Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2015shares | |
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 | Sep. 30, 2015 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock Shares Outstanding | 3,681,129,777 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Revenue | |||||
Investment banking fees | $ 1,604 | $ 1,538 | $ 5,231 | $ 4,709 | |
Principal transactions | 2,367 | 2,966 | 8,856 | 9,196 | |
Lending- and deposit-related fees | 1,463 | 1,479 | 4,244 | 4,347 | |
Asset management, administration and commissions | 3,845 | 3,978 | 11,667 | 11,821 | |
Securities gains | [1] | 33 | 6 | 129 | 48 |
Mortgage fees and related income | 469 | 903 | 1,957 | 2,708 | |
Card income | 1,447 | 1,537 | 4,493 | 4,494 | |
Other income | 628 | 955 | 1,796 | 2,467 | |
Noninterest revenue | 11,856 | 13,362 | 38,373 | 39,790 | |
Interest income | 12,739 | 12,926 | 37,818 | 38,580 | |
Interest expense | 1,815 | 1,819 | 5,533 | 6,008 | |
Net interest income | 10,924 | 11,107 | 32,285 | 32,572 | |
Total net revenue | 22,780 | 24,469 | 70,658 | 72,362 | |
Provision for credit losses | 682 | 757 | 2,576 | 2,299 | |
Noninterest expense | |||||
Compensation expense | 7,320 | 7,831 | 23,057 | 23,300 | |
Occupancy expense | 965 | 978 | 2,821 | 2,903 | |
Technology, communications and equipment expense | 1,546 | 1,465 | 4,536 | 4,309 | |
Professional and outside services | 1,776 | 1,907 | 5,178 | 5,625 | |
Marketing | 704 | 610 | 1,937 | 1,824 | |
Other expense | 3,057 | 3,007 | 7,222 | 7,904 | |
Total noninterest expense | 15,368 | 15,798 | 44,751 | 45,865 | |
Income before income tax expense/(benefit) | 6,730 | 7,914 | 23,331 | 24,198 | |
Income tax expense/(benefit) | (74) | 2,349 | 4,323 | 7,384 | |
Net income | 6,804 | 5,565 | 19,008 | 16,814 | |
Net income applicable to common stockholders | $ 6,270 | $ 5,128 | $ 17,498 | $ 15,588 | |
Net income per common share data | |||||
Basic earnings per share (in dollars per share) | $ 1.70 | $ 1.37 | $ 4.72 | $ 4.13 | |
Diluted earnings per share (in dollars per share) | $ 1.68 | $ 1.35 | $ 4.68 | $ 4.09 | |
Weighted-average basic shares (in shares) | 3,694.4 | 3,755.4 | 3,709.2 | 3,774.4 | |
Weighted-average diluted shares (in shares) | 3,725.6 | 3,788.7 | 3,742.2 | 3,808.3 | |
Cash dividends declared per common share (in dollars per share) | $ 0.44 | $ 0.40 | $ 1.28 | $ 1.18 | |
Other-than-temporary impairment losses included in securities gains | |||||
Total credit losses recognized in income | $ (12) | $ (2) | $ (14) | $ (2) | |
[1] | The Firm recognized other-than-temporary impairment (“OTTI”) losses of $12 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $14 million and $2 million for the nine months ended September 30, 2015 and 2014, respectively. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 6,804 | $ 5,565 | $ 19,008 | $ 16,814 |
Other comprehensive income/(loss), after–tax | ||||
Unrealized gains/(losses) on investment securities | (291) | (141) | (1,621) | 1,928 |
Translation adjustments, net of hedges | (5) | 3 | (12) | 13 |
Cash flow hedges | (106) | (58) | 51 | 69 |
Defined benefit pension and OPEB plans | 51 | 24 | 144 | 57 |
Total other comprehensive income, after–tax | (351) | (172) | (1,438) | 2,067 |
Comprehensive income | $ 6,453 | $ 5,393 | $ 17,570 | $ 18,881 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and due from banks | $ 21,258 | $ 27,831 | |
Deposits with banks | 376,196 | 484,477 | |
Federal funds sold and securities purchased under resale agreements (included $27,433 and $28,585 at fair value) | 218,467 | 215,803 | |
Securities borrowed (included $405 and $992 at fair value) | 105,668 | 110,435 | |
Trading assets (included assets pledged of $110,160 and $125,034) | 361,708 | 398,988 | |
Securities (included $256,491 and $298,752 at fair value and assets pledged of $23,432 and $24,912) | 306,660 | 348,004 | |
Loans (included $3,135 and $2,611 at fair value) | 809,457 | 757,336 | |
Allowance for loan losses | (13,466) | (14,185) | |
Loans, net of allowance for loan losses | 795,991 | 743,151 | |
Accrued interest and accounts receivable | 57,926 | 70,079 | |
Premises and equipment | 14,709 | 15,133 | |
Goodwill | 47,405 | 47,647 | |
Mortgage servicing rights | 6,716 | 7,436 | |
Other intangible assets | 1,036 | 1,192 | |
Other assets (included $7,700 and $11,909 at fair value and assets pledged of $1,176 and $1,399) | 103,381 | 102,597 | |
Total assets | [1] | 2,417,121 | 2,572,773 |
Liabilities | |||
Deposits (included $11,062 and $8,807 at fair value) | 1,273,106 | 1,363,427 | |
Federal funds purchased and securities loaned or sold under repurchase agreements (included $3,565 and $2,979 at fair value) | 180,319 | 192,101 | |
Commercial paper | 19,656 | 66,344 | |
Other borrowed funds (included $9,665 and $14,739 at fair value) | 27,174 | 30,222 | |
Trading liabilities | 141,474 | 152,815 | |
Accounts payable and other liabilities (included $5,850 and $4,155 at fair value) | 187,986 | 206,939 | |
Beneficial interests issued by consolidated variable interest entities | 48,733 | 52,362 | |
Long-term debt (included $31,160 and $30,226 at fair value) | 292,945 | 276,836 | |
Total liabilities | [1] | $ 2,171,393 | $ 2,341,046 |
Commitments and contingencies | |||
Stockholders’ equity | |||
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,606,750 and 2,006,250 shares) | $ 26,068 | $ 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 | 92,316 | 93,270 | |
Retained earnings | 143,050 | 129,977 | |
Accumulated other comprehensive income | 751 | 2,189 | |
Shares held in RSU Trust, at cost (472,953 shares) | (21) | (21) | |
Treasury stock, at cost (423,804,118 and 390,144,630 shares) | (20,541) | (17,856) | |
Total stockholders’ equity | 245,728 | 231,727 | |
Total liabilities and stockholders’ equity | 2,417,121 | 2,572,773 | |
VIEs consolidated by the Firm | |||
Assets | |||
Trading assets (included assets pledged of $110,160 and $125,034) | 4,237 | 9,090 | |
Loans (included $3,135 and $2,611 at fair value) | 69,119 | 68,880 | |
Other assets (included $7,700 and $11,909 at fair value and assets pledged of $1,176 and $1,399) | 2,109 | 1,815 | |
Total assets | 75,465 | 79,785 | |
Liabilities | |||
Beneficial interests issued by consolidated variable interest entities | 48,733 | 52,362 | |
All other liabilities | 821 | 949 | |
Total liabilities | $ 49,554 | $ 53,311 | |
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 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)Sep 30, 2015 Dec 31, 2014Assets Trading assets$4,237 $9,090Loans69,119 68,880All other assets2,109 1,815Total assets$75,465 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$48,733 $52,362All other liabilities821 949Total liabilities$49,554 $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 September 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 | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Available-for-sale securities | $ 256,491 | $ 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) | 2,606,750 | 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) | 423,804,118 | 390,144,630 |
Limited program wide credit enhancement | $ 2,000 | $ 2,000 |
Loans reported as trading assets | ||
Assets | ||
Assets pledged | 110,160 | 125,034 |
Securities | ||
Assets | ||
Assets pledged | 23,432 | 24,912 |
Other assets | ||
Assets | ||
Assets pledged | 1,176 | 1,399 |
Recurring | ||
Assets | ||
Federal funds sold and securities purchased under resale agreements | 27,433 | 28,585 |
Securities borrowed | 405 | 992 |
Available-for-sale securities | 256,491 | 298,752 |
Loans | 3,135 | 2,611 |
Liabilities | ||
Deposits | 11,062 | 8,807 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,565 | 2,979 |
Other borrowed funds | 9,665 | 14,739 |
Accounts payable and other liabilities | 5,850 | 4,155 |
Beneficial interests issued by consolidated VIEs | 1,199 | 2,162 |
Long-term debt | 31,160 | 30,226 |
Recurring | Other assets | ||
Assets | ||
Other assets at fair value | $ 7,700 | $ 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 | 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 | 8,905 | |||||||
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | (719) | |||||||
Other | (49) | |||||||
Net income | $ 16,814 | 16,814 | ||||||
Dividends declared: | ||||||||
Preferred stock | (799) | |||||||
Common stock ($1.28 and $1.18 per share) | (4,554) | |||||||
Other comprehensive income | 2,067 | 2,067 | ||||||
Purchase of treasury stock | (3,250) | |||||||
Reissuance from treasury stock | 1,667 | |||||||
Ending balance at Sep. 30, 2014 | 230,939 | 20,063 | 4,105 | 93,060 | 126,896 | 3,266 | (21) | (16,430) |
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 | 6,005 | |||||||
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | (635) | |||||||
Other | (319) | |||||||
Net income | 19,008 | 19,008 | ||||||
Dividends declared: | ||||||||
Preferred stock | (1,097) | |||||||
Common stock ($1.28 and $1.18 per share) | (4,838) | |||||||
Other comprehensive income | (1,438) | (1,438) | ||||||
Purchase of treasury stock | (4,397) | |||||||
Reissuance from treasury stock | 1,712 | |||||||
Ending balance at Sep. 30, 2015 | $ 245,728 | $ 26,068 | $ 4,105 | $ 92,316 | $ 143,050 | $ 751 | $ (21) | $ (20,541) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Dividends declared: | ||
Common stock, dividends, per share (in dollars per share) | $ 1.28 | $ 1.18 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating activities | ||
Net income | $ 19,008 | $ 16,814 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 2,576 | 2,299 |
Depreciation and amortization | 3,667 | 3,573 |
Deferred tax expense/(benefit) | (530) | 1,894 |
Investment securities gains | (129) | (48) |
Stock-based compensation | 1,539 | 1,681 |
Originations and purchases of loans held-for-sale | (36,188) | (48,334) |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 39,332 | 53,250 |
Net change in: | ||
Trading assets | 44,473 | (30,542) |
Securities borrowed | 4,828 | (7,416) |
Accrued interest and accounts receivable | 11,416 | (7,793) |
Other assets | (6,229) | 9,842 |
Trading liabilities | (6,625) | 2,624 |
Accounts payable and other liabilities | (13,420) | 9,341 |
Other operating adjustments | (6,419) | 662 |
Net cash provided by operating activities | 57,299 | 7,847 |
Investing activities | ||
Net change in deposits with banks | 108,281 | (98,261) |
Net change in federal funds sold and securities purchased under resale agreements | (2,626) | 32,272 |
Held-to-maturity securities: | ||
Proceeds from paydowns and maturities | 4,790 | 2,947 |
Purchases | (5,930) | (8,634) |
Available-for-sale securities: | ||
Proceeds from paydowns and maturities | 58,281 | 67,261 |
Proceeds from sales | 29,303 | 21,054 |
Purchases | (54,034) | (96,776) |
Proceeds from sales and securitizations of loans held-for-investment | 14,634 | 14,592 |
Other changes in loans, net | (75,891) | (30,070) |
Net cash provided by/(used in) business acquisitions or dispositions | 1,255 | 24 |
All other investing activities, net | 1,659 | (39) |
Net cash provided by/(used in) investing activities | 79,722 | (95,630) |
Financing activities | ||
Net change in deposits | (96,466) | 52,046 |
Net change in federal funds purchased and securities loaned or sold under repurchase agreements | (11,789) | 17,564 |
Net change in commercial paper and other borrowed funds | (47,615) | 4,367 |
Net change in beneficial interests issued by consolidated variable interest entities | (1,374) | (4,515) |
Proceeds from long-term borrowings | 70,243 | 54,263 |
Payments of long-term borrowings | (51,382) | (49,493) |
Excess tax benefits related to stock-based compensation | 310 | 387 |
Proceeds from issuance of preferred stock | 5,893 | 8,848 |
Treasury stock purchased | (4,397) | (3,250) |
Dividends paid | (5,678) | (5,078) |
All other financing activities, net | (1,258) | (1,078) |
Net cash (used in)/provided by financing activities | (143,513) | 74,061 |
Effect of exchange rate changes on cash and due from banks | (81) | (677) |
Net decrease in cash and due from banks | (6,573) | (14,399) |
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 | 21,258 | 25,372 |
Cash interest paid | 5,624 | 6,008 |
Cash income taxes paid, net | $ 6,871 | $ 453 |
Basis of presentation
Basis of presentation | 9 Months Ended |
Sep. 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 $223 million and $230 million in other income and income tax expense, respectively, for the three months ended September 30, 2014, and $669 million and $686 million , respectively, for the nine months ended September 30, 2014, which led to an increase of approximately 2% in the effective tax rate for both the three and nine months ended September 30, 2014. The impact on net income and earnings per share in the periods affected was not material. The Firm recognized $398 million and $394 million of tax credits and other tax benefits associated with these investments within Income tax expense for the three months ended September 30, 2015 and 2014, respectively, and $1.2 billion for both the nine months ended September 30, 2015 and 2014. The amount of amortization of such investments reported in income tax expense under the current period presentation was $274 million and $268 million , for the three months ended September 30, 2015 and 2014, respectively, and $829 million and $799 million for the nine months ended September 30, 2015 and 2014, respectively. The carrying value of investments in affordable housing projects was $7.3 billion at both September 30, 2015 and December 31, 2014. These investments are reported in other assets on the Firm’s Consolidated balance sheets. The amount of commitments related to these investments was $1.9 billion and $1.8 billion at September 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 | 9 Months Ended |
Sep. 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. Income tax expense The Firm’s effective tax rate was (1.1)% and 18.5% in the three and nine months ended September 30, 2015 , respectively, and 29.7% and 30.5% in the respective 2014 periods. The effective tax rate in the 2015 periods includes the recognition of tax benefits of $2.2 billion and $2.7 billion , respectively, which reduced the Firm’s effective tax rate by 32.0% and 11.7% , respectively. The recognition of tax benefits in 2015 resulted from the resolution of various tax audits by a number of taxing authorities, most notably the Internal Revenue Service, New York State, and the State of California (which reduced the Firm’s gross unrecognized tax benefits), as well as the release of U.S. deferred taxes associated with the restructuring of certain non-U.S. entities. Based upon the resolution of such audits, the gross balance of the Firm’s unrecognized tax benefits has decreased by approximately $2 billion for the nine months ended September 30, 2015 . For further information, see Note 26 of JPMorgan Chase ’s 2014 Annual Report . 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 nine months ended September 30, 2015 , the Firm issued $1.2 billion and $6.0 billion respectively, 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 | 9 Months Ended |
Sep. 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 September 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 September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 27,433 $ — $ — $ 27,433 Securities borrowed — 405 — — 405 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 35,038 786 — 35,829 Residential – nonagency — 1,505 119 — 1,624 Commercial – nonagency — 1,047 29 — 1,076 Total mortgage-backed securities 5 37,590 934 — 38,529 U.S. Treasury and government agencies (a) 22,451 7,308 — — 29,759 Obligations of U.S. states and municipalities — 6,543 572 — 7,115 Certificates of deposit, bankers’ acceptances and commercial paper — 525 — — 525 Non-U.S. government debt securities 28,349 28,394 86 — 56,829 Corporate debt securities — 25,411 837 — 26,248 Loans (b) — 25,809 8,014 — 33,823 Asset-backed securities — 2,549 1,806 — 4,355 Total debt instruments 50,805 134,129 12,249 — 197,183 Equity securities 79,946 390 335 — 80,671 Physical commodities (c) 2,845 1,140 — — 3,985 Other — 10,625 495 — 11,120 Total debt and equity instruments (d) 133,596 146,284 13,079 — 292,959 Derivative receivables: Interest rate 657 735,468 2,826 (709,835 ) 29,116 Credit — 51,967 2,442 (52,685 ) 1,724 Foreign exchange 777 183,986 1,786 (165,433 ) 21,116 Equity — 45,246 1,481 (39,237 ) 7,490 Commodity 218 27,899 343 (19,238 ) 9,222 Total derivative receivables (e) 1,652 1,044,566 8,878 (986,428 ) 68,668 Total trading assets 135,248 1,190,850 21,957 (986,428 ) 361,627 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 54,578 — — 54,578 Residential – nonagency — 36,600 5 — 36,605 Commercial – nonagency — 22,893 — — 22,893 Total mortgage-backed securities — 114,071 5 — 114,076 U.S. Treasury and government agencies (a) 11,305 42 — — 11,347 Obligations of U.S. states and municipalities — 32,709 — — 32,709 Certificates of deposit — 418 — — 418 Non-U.S. government debt securities 23,628 15,492 — — 39,120 Corporate debt securities — 14,781 — — 14,781 Asset-backed securities: Collateralized loan obligations — 30,549 755 — 31,304 Other — 10,056 75 — 10,131 Equity securities 2,605 — — — 2,605 Total available-for-sale securities 37,538 218,118 835 — 256,491 Loans — 260 2,875 — 3,135 Mortgage servicing rights (“MSRs”) — — 6,716 — 6,716 Other assets: Private equity investments (f) 148 64 1,700 — 1,912 All other 3,616 29 819 — 4,464 Total other assets 3,764 93 2,519 — 6,376 Total assets measured at fair value on a recurring basis $ 176,550 $ 1,437,159 $ 34,902 $ (986,428 ) $ 662,183 Deposits $ — $ 7,685 $ 3,377 $ — $ 11,062 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,565 — — 3,565 Other borrowed funds — 8,897 768 — 9,665 Trading liabilities: Debt and equity instruments (d) 64,715 19,552 67 — 84,334 Derivative payables: Interest rate 629 699,215 1,995 (691,114 ) 10,725 Credit — 51,181 1,930 (51,465 ) 1,646 Foreign exchange 876 199,256 2,321 (180,409 ) 22,044 Equity — 44,544 3,005 (38,543 ) 9,006 Commodity 132 30,865 1,563 (18,841 ) 13,719 Total derivative payables (e) 1,637 1,025,061 10,814 (980,372 ) 57,140 Total trading liabilities 66,352 1,044,613 10,881 (980,372 ) 141,474 Accounts payable and other liabilities 5,829 — 21 — 5,850 Beneficial interests issued by consolidated variable interest entities ("VIEs") — 181 1,018 — 1,199 Long-term debt — 20,304 10,856 — 31,160 Total liabilities measured at fair value on a recurring basis $ 72,181 $ 1,085,245 $ 26,921 $ (980,372 ) $ 203,975 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 (g) 4,129 — 26 — 4,155 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 $ 68,429 $ 1,355,052 $ 32,059 $ (1,239,657 ) $ 215,883 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 September 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 $1.4 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 September 30, 2015, and December 31, 2014, were trading assets of $81 million and $124 million , respectively, and other assets of $1.3 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 September 30, 2015 , and December 31, 2014, included total U.S. government-sponsored enterprise obligations of $67.5 billion and $84.1 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2015 , and December 31, 2014, included within trading loans were $13.1 billion and $17.0 billion , respectively, of residential first-lien mortgages, and $5.2 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 $2.7 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 $1.8 billion and $2.5 billion at September 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 $3.6 billion and $6.0 billion at September 30, 2015 , and December 31, 2014, respectively. (g) Certain prior period amounts (including the corresponding fair value parenthetical disclosure for accounts payable and other liabilities on the Consolidated balance sheets) were revised to conform with the current period presentation. Transfers between levels for instruments carried at fair value on a recurring basis For the three and nine months ended September 30, 2015 and the three months ended September 30, 2014, there were no individually significant transfers between levels 1 and 2, or from level 2 into level 3. During the three months ended September 30, 2015, transfers from level 3 into level 2 included $2.4 billion of long-term debt driven by an increase in observability on certain structured notes with embedded interest rate and FX derivatives and a reduction of the significance in the unobservable inputs for certain structured notes with embedded equity derivatives; further, $1.1 billion of interest rate derivative receivables was transferred from level 3 to level 2 as a result of an increase in observability. In addition, during the nine months ended September 30, 2015 transfers from level 3 into level 2 included $2.3 billion of trading loans driven by an increase in observability of certain collateralized financing transactions; $2.2 billion of corporate debt driven by a reduction of the significance in the unobservable inputs and an increase in observability for certain structured products. During the nine months ended September 30, 2014, transfers from level 3 into level 2 included $3.4 billion and $3.1 billion of equity derivative receivables and payables, respectively, due to increased observability of certain equity option valuation inputs; and $1.1 billion of corporate debt, $1.1 billion of long-term debt and $1.0 billion of trading loans based on increased liquidity and price transparency. Transfers from level 2 into level 3 included $1.1 billion of other borrowed funds based on a decrease in observability of valuation inputs and price transparency. All transfers are assumed to occur at the beginning of the quarterly reporting period in which they occur. Level 3 valuations For further information on the Firm’s valuation process and a detailed discussion of the determination of fair value for individual financial instruments, see Note 3 of JPMorgan Chase’s 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 at September 30, 2015, 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. 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) September 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 $ 5,653 Discounted cash flows Yield 4 % – 26% 6 % Prepayment speed 0 % – 20% 7 % Conditional default rate 0 % – 11% 2 % Loss severity 0 % – 100% 37 % Commercial mortgage-backed securities and loans (b) 3,970 Discounted cash flows Yield 0 % – 25% 3 % Conditional default rate 0 % – 91% 21 % Loss severity 0 % 40% 29 % Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 3,556 Discounted cash flows Credit spread 60 bps – 270 bps 254bps Yield 1 % – 22% 5 % 3,513 Market comparables Price $ — – $139 $ 94 Net interest rate derivatives 831 Option pricing Interest rate correlation (49 )% – 99% Interest rate spread volatility 4 % – 30% Net credit derivatives (b)(c) 512 Discounted cash flows Credit correlation 35 % – 90% Net foreign exchange derivatives (535 ) Option pricing Foreign exchange correlation 0 % – 60% Net equity derivatives (1,524 ) Option pricing Equity volatility 20 % – 65% Net commodity derivatives (1,220 ) Discounted cash flows Forward commodity price $ 33 – $54 per barrel Collateralized loan obligations 755 Discounted cash flows Credit spread 350 bps – 525 bps 390 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 40 % 40 % 160 Market comparables Price $ — – $100 $ 76 Mortgage servicing rights (“MSRs”) 6,716 Discounted cash flows Refer to Note 16 Private equity investments 1,700 Market comparables EBITDA multiple 6.4x – 9.9x 8.7x Liquidity adjustment 0 % – 15% 6 % Long-term debt, other borrowed funds, and deposits (d) 14,495 Option pricing Interest rate correlation (49 )% – 99% Interest rate spread volatility 4 % – 30% Foreign exchange correlation 0 % – 60% Equity correlation (50 )% – 80% 506 Discounted cash flows Credit correlation 35 % – 90% Beneficial interests issued by consolidated VIEs (e) 1,018 Discounted Cash Flows Yield 4 % – 28% 4 % Prepayment Speed 1 % – 12% 8 % Conditional default rate 2 % – 15% 2 % Loss severity 40 % – 100% 48 % (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 $394 million of credit derivative receivables and $355 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 $491 million of credit derivative receivables and $453 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. (e) The parameters are related to residential mortgage-backed securities. 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 nine months ended September 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 September 30, 2015 (in millions) Fair value at July 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at September 30, 2015 Change in unrealized gains/(losses) related to financial instruments held at September 30, 2015 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 901 $ (81 ) $ 68 $ (21 ) $ (28 ) $ (53 ) $ 786 $ (79 ) Residential – nonagency 123 64 25 (95 ) (9 ) 11 119 8 Commercial – nonagency 138 (3 ) 5 (15 ) (8 ) (88 ) 29 (4 ) Total mortgage-backed securities 1,162 (20 ) 98 (131 ) (45 ) (130 ) 934 (75 ) Obligations of U.S. states and municipalities 1,247 (7 ) 90 (23 ) — (735 ) 572 (8 ) Non-U.S. government debt securities 208 11 18 (7 ) (1 ) (143 ) 86 18 Corporate debt securities 943 (21 ) 123 (100 ) (84 ) (24 ) 837 (6 ) Loans 9,563 (73 ) 945 (672 ) (1,494 ) (255 ) 8,014 (104 ) Asset-backed securities 1,539 (15 ) 485 (207 ) (10 ) 14 1,806 (14 ) Total debt instruments 14,662 (125 ) 1,759 (1,140 ) (1,634 ) (1,273 ) 12,249 (189 ) Equity securities 310 9 26 (15 ) (2 ) 7 335 9 Other 969 (23 ) 460 (263 ) (89 ) (559 ) 495 (15 ) Total trading assets – debt and equity instruments 15,941 (139 ) (c) 2,245 (1,418 ) (1,725 ) (1,825 ) 13,079 (195 ) (c) Net derivative receivables: (a) Interest rate 859 244 9 (6 ) (147 ) (128 ) 831 77 Credit 432 7 6 (1 ) 48 20 512 13 Foreign exchange 405 (254 ) 1 (135 ) (154 ) (398 ) (535 ) (222 ) Equity (1,848 ) 348 196 (187 ) 172 (205 ) (1,524 ) 277 Commodity (594 ) (553 ) — (2 ) (100 ) 29 (1,220 ) (231 ) Total net derivative receivables (746 ) (208 ) (c) 212 (331 ) (181 ) (682 ) (1,936 ) (86 ) (c) Available-for-sale securities: Asset-backed securities 862 (27 ) — — (5 ) — 830 (26 ) Other 13 — — — (8 ) — 5 — Total available-for-sale securities 875 (27 ) (d) — — (13 ) — 835 (26 ) (d) Loans 2,295 9 (c) 869 — (298 ) — 2,875 9 (c) Mortgage servicing rights 7,571 (765 ) (e) 143 — (233 ) — 6,716 (765 ) (e) Other assets: Private equity investments 1,987 (32 ) (c) 70 (267 ) (58 ) — 1,700 (32 ) (c) All other 839 80 (f) — — (100 ) — 819 82 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at July 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 $ 3,528 $ 42 (c) $ — $ — $ 327 $ (280 ) $ (240 ) $ 3,377 $ 54 (c) Other borrowed funds 1,261 (402 ) (c) — 28 575 (431 ) (263 ) 768 (317 ) (c) Trading liabilities – debt and equity instruments 72 8 (c) (10 ) 2 — (6 ) 1 67 7 (c) Accounts payable and other liabilities 23 — — — — (2 ) — 21 — Beneficial interests issued by consolidated VIEs 1,140 (35 ) (c) (59 ) — — (28 ) — 1,018 (36 ) (c) Long-term debt 12,589 (420 ) (c) (11 ) — 2,057 (1,048 ) (2,311 ) 10,856 (392 ) (c) Fair value measurements using significant unobservable inputs Three months ended September 30, 2014 (in millions) Fair value at July 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 September 30, 2014 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 1,125 $ (18 ) $ 2 $ (12 ) $ (31 ) $ (8 ) $ 1,058 $ (18 ) Residential – nonagency 543 (13 ) 224 (120 ) (5 ) (38 ) 591 (22 ) Commercial – nonagency 327 (2 ) 251 (323 ) (6 ) 16 263 (6 ) Total mortgage-backed securities 1,995 (33 ) 477 (455 ) (42 ) (30 ) 1,912 (46 ) Obligations of U.S. states and municipalities 1,079 158 1 (49 ) — — 1,189 156 Non-U.S. government debt securities 128 7 88 (20 ) (1 ) (67 ) 135 6 Corporate debt securities 4,793 (88 ) 1,280 (776 ) (72 ) (75 ) 5,062 168 Loans 13,521 (179 ) 4,563 (1,476 ) (1,349 ) 251 15,331 (184 ) Asset-backed securities 1,216 (21 ) 564 (477 ) (88 ) 26 1,220 (27 ) Total debt instruments 22,732 (156 ) 6,973 (3,253 ) (1,552 ) 105 24,849 73 Equity securities 691 22 140 (12 ) (42 ) 35 834 19 Physical commodities 3 (1 ) — — — — 2 — Other 2,341 (53 ) 480 (66 ) (17 ) — 2,685 (53 ) Total trading assets – debt and equity instruments 25,767 (188 ) (c) 7,593 (3,331 ) (1,611 ) 140 28,370 39 (c) Net derivative receivables: (a) Interest rate 1,533 (46 ) 31 (61 ) (232 ) (15 ) 1,210 (133 ) Credit 134 89 23 (4 ) 19 (2 ) 259 112 Foreign exchange (1,194 ) 176 43 (3 ) 51 (4 ) (931 ) 194 Equity (2,206 ) (201 ) 699 (791 ) (4 ) 82 (2,421 ) (164 ) Commodity (122 ) 178 — — (80 ) 10 (14 ) 448 Total net derivative receivables (1,855 ) 196 (c) 796 (859 ) (246 ) 71 (1,897 ) 457 (c) Available-for-sale securities: Asset-backed securities 1,322 (25 ) 50 — (39 ) — 1,308 (24 ) Other 514 (18 ) — — (133 ) — 363 (2 ) Total available-for-sale securities 1,836 (43 ) (d) 50 — (172 ) — 1,671 (26 ) (d) Loans 4,227 (240 ) (c) 233 (89 ) (589 ) — 3,542 (241 ) (c) Mortgage servicing rights 8,347 (57 ) (e) 151 11 (216 ) — 8,236 (57 ) (e) Other assets: Private equity investments 4,630 147 (c) 4 (458 ) 18 — 4,341 346 (c) All other 1,199 12 (f) 2 — (38 ) — 1,175 12 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at July 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 $ 2,838 $ (52 ) (c) $ — $ — $ 452 $ (44 ) $ (359 ) $ 2,835 $ (52 ) (c) Other borrowed funds 1,538 (45 ) (c) — — 1,575 (1,494 ) 418 1,992 (41 ) (c) Trading liabilities – debt and equity instruments 80 (12 ) (c) (36 ) 22 — 9 (9 ) 54 (12 ) (c) Accounts payable and other liabilities 45 — (f) — — — (5 ) — 40 — (f) Beneficial interests issued by consolidated VIEs 1,062 (42 ) (c) — — 653 (24 ) — 1,649 (44 ) (c) Long-term debt 11,746 (382 ) (c) — — 2,175 (1,583 ) 4 11,960 (266 ) (c) Fair value measurements using significant unobservable inputs Nine 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 $ (43 ) $ 250 $ (186 ) $ (102 ) $ (55 ) $ 786 $ (41 ) Residential – nonagency 663 108 202 (558 ) (19 ) (277 ) 119 7 Commercial – nonagency 306 (12 ) 185 (215 ) (22 ) (213 ) 29 (5 ) Total mortgage-backed securities 1,891 53 637 (959 ) (143 ) (545 ) 934 (39 ) Obligations of U.S. states and municipalities 1,273 6 281 (133 ) (27 ) (828 ) 572 (7 ) Non-U.S. government debt securities 302 20 173 (119 ) (43 ) (247 ) 86 16 Corporate debt securities 2,989 (71 ) 944 (909 ) (119 ) (1,997 ) 837 (2 ) Loans 13,287 (64 ) 2,841 (3,821 ) (2,313 ) (1,916 ) 8,014 (254 ) Asset-backed securities 1,264 (31 ) 1,781 (1,099 ) (4 ) (105 ) 1,806 (19 ) Total debt instruments 21,006 (87 ) 6,657 (7,040 ) (2,649 ) (5,638 ) 12,249 (305 ) Equity securities 431 55 76 (138 ) (19 ) (70 ) 335 58 Other 1,052 65 1,571 (1,298 ) (305 ) (590 ) 495 (25 ) Total trading assets – debt and equity instruments 22,489 33 (c) 8,304 (8,476 ) (2,973 ) (6,298 ) 13,079 (272 ) (c) Net derivative receivables: (a) Interest rate 626 737 451 (164 ) (500 ) (319 ) 831 310 Credit 189 101 16 (5 ) 174 37 512 237 Foreign exchange (526 ) 691 14 (146 ) (140 ) (428 ) (535 ) 222 Equity (1,785 ) 673 620 (859 ) (90 ) (83 ) (1,524 ) 414 Commodity (565 ) (464 ) — (2 ) (151 ) (38 ) (1,220 ) (154 ) Total net derivative receivables (2,061 ) 1,738 (c) 1,101 (1,176 ) (707 ) (831 ) (1,936 ) 1,029 (c) Available-for-sale securities: Asset-backed securities 908 (34 ) 49 (43 ) (50 ) — 830 (28 ) Other 129 — — — (25 ) (99 ) 5 — Total available-for-sale securities 1,037 (34 ) (d) 49 (43 ) (75 ) (99 ) 835 (28 ) (d) Loans 2,541 (111 ) (c) 1,286 (83 ) (758 ) — 2,875 (108 ) (c) Mortgage servicing rights 7,436 (550 ) (e) 882 (375 ) (677 ) — 6,716 (550 ) (e) Other assets: Private equity investments 2,225 (i) 15 (c) 77 (294 ) (174 ) (149 ) 1,700 — (c) All other 959 (i) 90 (f) 65 (143 ) (152 ) — 819 66 (f) Fair value measurements using significant unobservable inputs Nine 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 $ (22 ) (c) $ — $ — $ 1,775 $ (425 ) $ (810 ) $ 3,377 $ 49 (c) Other borrowed funds 1,453 (525 ) (c) 45 28 2,897 (2,573 ) (557 ) 768 (424 ) (c) Trading liabilities – debt and equity instruments 72 13 (c) (141 ) 149 — (20 ) (6 ) 67 7 (c) Accounts payable and other liabilities 26 — (c) — — — (5 ) — 21 — (c) Beneficial interests issued by consolidated VIEs 1,146 (52 ) (c) (75 ) — 286 (287 ) — 1,018 (49 ) (c) Long-term debt 11,877 (617 ) (c) (11 ) (12 ) 7,440 (5,193 ) (2,628 ) 10,856 (583 ) (c) Fair value measurements using significant unobservable inputs Nine 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 $ 12 $ 345 $ (186 ) $ (91 ) $ (27 ) $ 1,058 $ 16 Residential – nonagency 726 78 597 (634 ) (29 ) (147 ) 591 5 Commercial – nonagency 432 26 832 (804 ) (54 ) (169 ) 263 (5 ) Total mortgage-backed securities 2,163 116 1,774 (1,624 ) (174 ) (343 ) 1,912 16 Obligations of U.S. states and municipalities 1,382 145 1 (339 ) — — 1,189 14 Non-U.S. government debt securities 143 26 523 (539 ) (3 ) (15 ) 135 9 Corporate debt securities 5,920 280 3,640 (2,791 ) (1,736 ) (251 ) 5,062 458 Loans 13,455 512 9,850 (4,378 ) (4,067 ) (41 ) 15,331 297 Asset-backed securities 1,272 49 1,921 (1,809 ) (259 ) 46 1,220 (19 ) Total debt instruments 24,335 1,128 17,709 (11,480 ) (6,239 ) (604 ) 24,849 775 Equity securities 867 122 225 (87 ) (72 ) (221 ) 834 92 Physical commodities 4 (1 ) — — (1 ) — 2 (1 ) Other 2,000 116 1,190 (244 ) (112 ) (265 ) 2,685 122 Total trading assets – debt and equity instruments 27,206 1,365 (c) 19,124 (11,811 ) (6,424 ) (1,090 ) 28,370 988 (c) Net derivative receivables: (a) In |
Fair value option
Fair value option | 9 Months Ended |
Sep. 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 nine months ended September 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 September 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 $ 63 $ — $ 63 $ (114 ) $ — $ (114 ) Securities borrowed (1 ) — (1 ) (3 ) — (3 ) Trading assets: Debt and equity instruments, excluding loans (144 ) — (144 ) 20 1 (c) 21 Loans reported as trading assets: Changes in instrument-specific credit risk 12 5 (c) 17 140 10 (c) 150 Other changes in fair value 94 277 (c) 371 98 249 (c) 347 Loans: Changes in instrument-specific credit risk 31 — 31 3 — 3 Other changes in fair value 2 — 2 (2 ) — (2 ) Other assets 54 — 54 6 21 (d) 27 Deposits (a) (112 ) — (112 ) 117 — 117 Federal funds purchased and securities loaned or sold under repurchase agreements (14 ) — (14 ) 15 — 15 Other borrowed funds (a) 2,015 — 2,015 (56 ) — (56 ) Trading liabilities (6 ) — (6 ) (2 ) — (2 ) Beneficial interests issued by consolidated VIEs 29 — 29 (54 ) — (54 ) Other liabilities — — — — — — Long-term debt: Changes in instrument-specific credit risk (a) 299 — 299 162 — 162 Other changes in fair value (b) 1,116 — 1,116 170 — 170 Nine months ended September 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 $ 37 $ — $ 37 $ (58 ) $ — $ (58 ) Securities borrowed (5 ) — (5 ) (8 ) — (8 ) Trading assets: Debt and equity instruments, excluding loans 375 1 (c) 376 495 2 (c) 497 Loans reported as trading assets: Changes in instrument-specific credit risk 223 18 (c) 241 894 22 (c) 916 Other changes in fair value 206 657 (c) 863 200 941 (c) 1,141 Loans: Changes in instrument-specific credit risk 32 — 32 31 — 31 Other changes in fair value 2 — 2 29 — 29 Other assets 116 9 (d) 125 18 (121 ) (d) (103 ) Deposits (a) (75 ) — (75 ) (94 ) — (94 ) Federal funds purchased and securities loaned or sold under repurchase agreements (5 ) — (5 ) (19 ) — (19 ) Other borrowed funds (a) 2,121 — 2,121 (1,227 ) — (1,227 ) Trading liabilities (20 ) — (20 ) (11 ) — (11 ) Beneficial interests issued by consolidated VIEs 73 — 73 (191 ) — (191 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 624 — 624 167 — 167 Other changes in fair value (b) 1,466 — 1,466 (621 ) — (621 ) (a) Total changes in instrument-specific credit risk (DVA) related to structured notes were $169 million and $190 million for the three months ended September 30, 2015 and 2014, respectively, and $492 million and $209 million for the nine months ended September 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 September 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. September 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 $ 4,048 $ 1,067 $ (2,981 ) $ 3,847 $ 905 $ (2,942 ) Loans 7 7 — 7 7 — Subtotal 4,055 1,074 (2,981 ) 3,854 912 (2,942 ) All other performing loans Loans reported as trading assets 34,765 32,756 (2,009 ) 37,608 35,462 (2,146 ) Loans 2,988 2,967 (21 ) 2,397 2,389 (8 ) Total loans $ 41,808 $ 36,797 $ (5,011 ) $ 43,859 $ 38,763 $ (5,096 ) Long-term debt Principal-protected debt $ 16,753 (c) $ 15,520 $ (1,233 ) $ 14,660 (c) $ 15,484 $ 824 Nonprincipal-protected debt (b) NA 15,640 NA NA 14,742 NA Total long-term debt NA $ 31,160 NA NA $ 30,226 NA Long-term beneficial interests Nonprincipal-protected debt (b) NA $ 1,199 NA NA $ 2,162 NA Total long-term beneficial interests NA $ 1,199 NA NA $ 2,162 NA (a) There were no performing loans that were ninety days or more past due as of September 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 reflects the contractual principal payment at maturity or, if applicable, the contractual principal payment at the Firm’s next call date. At September 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 $(101) 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 of this Form 10-Q. Structured note products by balance sheet classification and risk component The table below presents the fair value of the structured notes issued by the Firm, by balance sheet classification and the primary risk to which the structured notes’ embedded derivative relates. September 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 $ 11,506 $ 50 $ 3,762 $ 15,318 $ 10,858 $ 460 $ 2,119 $ 13,437 Credit 3,256 95 — 3,351 4,023 450 — 4,473 Foreign exchange 1,853 150 11 2,014 2,150 211 17 2,378 Equity 13,086 8,523 5,074 26,683 12,348 12,412 4,415 29,175 Commodity 833 81 1,955 2,869 710 644 2,012 3,366 Total structured notes $ 30,534 $ 8,899 $ 10,802 $ 50,235 $ 30,089 $ 14,177 $ 8,563 $ 52,829 |
Derivative instruments
Derivative instruments | 9 Months Ended |
Sep. 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 113 – 114 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 114 – 115 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 113 – 114 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 114 – 115 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. subsidiaries Net investment hedge Corporate 116 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 113 – 114 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 116 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 116 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 116 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 116 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 116 ◦ Various Other derivatives Market-making and other CIB, Corporate 116 Notional amount of derivative contracts The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2015 , and December 31, 2014 . Notional amounts (b) (in billions) September 30, 2015 December 31, 2014 Interest rate contracts Swaps $ 24,058 $ 29,734 Futures and forwards 5,377 10,189 Written options 3,689 3,903 Purchased options 4,170 4,259 Total interest rate contracts 37,294 48,085 Credit derivatives (a) 3,503 4,249 Foreign exchange contracts Cross-currency swaps 3,052 3,346 Spot, futures and forwards 4,976 4,669 Written options 759 790 Purchased options 740 780 Total foreign exchange contracts 9,527 9,585 Equity contracts Swaps 227 206 Futures and forwards 45 50 Written options 457 432 Purchased options 388 375 Total equity contracts 1,117 1,063 Commodity contracts Swaps 103 126 Spot, futures and forwards 132 193 Written options 172 181 Purchased options 170 180 Total commodity contracts 577 680 Total derivative notional amounts $ 52,018 $ 63,662 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 117–118 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 September 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 September 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 $ 733,909 $ 5,042 $ 738,951 $ 29,116 $ 699,048 $ 2,791 $ 701,839 $ 10,725 Credit 54,409 — 54,409 1,724 53,111 — 53,111 1,646 Foreign exchange 185,015 1,534 186,549 21,116 201,298 1,155 202,453 22,044 Equity 46,727 — 46,727 7,490 47,549 — 47,549 9,006 Commodity 27,452 1,008 28,460 9,222 32,542 18 32,560 13,719 Total fair value of trading assets and liabilities $ 1,047,512 $ 7,584 $ 1,055,096 $ 68,668 $ 1,033,548 $ 3,964 $ 1,037,512 $ 57,140 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 September 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. September 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 $ 455,022 $ (432,456 ) $ 22,566 $ 542,107 $ (514,914 ) $ 27,193 OTC–cleared 277,403 (277,379 ) 24 401,656 (401,618 ) 38 Exchange-traded (a) — — — — — — Total interest rate contracts 732,425 (709,835 ) 22,590 943,763 (916,532 ) 27,231 Credit contracts: OTC 44,739 (44,680 ) 59 66,636 (65,720 ) 916 OTC–cleared 8,020 (8,005 ) 15 9,320 (9,284 ) 36 Total credit contracts 52,759 (52,685 ) 74 75,956 (75,004 ) 952 Foreign exchange contracts: OTC 181,104 (165,157 ) 15,947 208,803 (193,900 ) 14,903 OTC–cleared 276 (276 ) — 36 (34 ) 2 Exchange-traded (a) — — — — — — Total foreign exchange contracts 181,380 (165,433 ) 15,947 208,839 (193,934 ) 14,905 Equity contracts: OTC 26,509 (25,732 ) 777 23,258 (22,826 ) 432 OTC–cleared — — — — — — Exchange-traded (a) 17,579 (13,505 ) 4,074 13,840 (11,486 ) 2,354 Total equity contracts 44,088 (39,237 ) 4,851 37,098 (34,312 ) 2,786 Commodity contracts: OTC 14,610 (6,644 ) 7,966 22,555 (14,327 ) 8,228 OTC–cleared — — — — — — Exchange-traded (a) 12,844 (12,594 ) 250 19,500 (15,344 ) 4,156 Total commodity contracts 27,454 (19,238 ) 8,216 42,055 (29,671 ) 12,384 Derivative receivables with appropriate legal opinion $ 1,038,106 $ (986,428 ) (b) $ 51,678 $ 1,307,711 $ (1,249,453 ) (b) $ 58,258 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 16,990 16,990 20,717 20,717 Total derivative receivables recognized on the Consolidated balance sheets $ 1,055,096 $ 68,668 $ 1,328,428 $ 78,975 (a) Exchange-traded derivative amounts that relate to futures contracts are settled daily. (b) Included cash collateral netted of $74.3 billion and $74.0 billion at September 30, 2015 , and December 31, 2014 , respectively. The following table presents, as of September 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. September 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 $ 431,744 $ (422,367 ) $ 9,377 $ 515,904 $ (503,384 ) $ 12,520 OTC–cleared 268,798 (268,747 ) 51 398,518 (397,250 ) 1,268 Exchange-traded (a) — — — — — — Total interest rate contracts 700,542 (691,114 ) 9,428 914,422 (900,634 ) 13,788 Credit contracts: OTC 45,435 (44,220 ) 1,215 65,432 (64,904 ) 528 OTC–cleared 7,245 (7,245 ) — 9,398 (9,398 ) — Total credit contracts 52,680 (51,465 ) 1,215 74,830 (74,302 ) 528 Foreign exchange contracts: OTC 196,762 (180,048 ) 16,714 217,998 (201,578 ) 16,420 OTC–cleared 362 (361 ) 1 66 (66 ) — Exchange-traded (a) — — — — — — Total foreign exchange contracts 197,124 (180,409 ) 16,715 218,064 (201,644 ) 16,420 Equity contracts: OTC 28,605 (25,038 ) 3,567 27,908 (23,036 ) 4,872 OTC–cleared — — — — — — Exchange-traded (a) 15,065 (13,505 ) 1,560 12,864 (11,486 ) 1,378 Total equity contracts 43,670 (38,543 ) 5,127 40,772 (34,522 ) 6,250 Commodity contracts: OTC 17,490 (6,247 ) 11,243 25,129 (13,211 ) 11,918 OTC–cleared — — — — — — Exchange-traded (a) 12,655 (12,594 ) 61 18,486 (15,344 ) 3,142 Total commodity contracts 30,145 (18,841 ) 11,304 43,615 (28,555 ) 15,060 Derivative payables with appropriate legal opinions $ 1,024,161 $ (980,372 ) (b) $ 43,789 $ 1,291,703 $ (1,239,657 ) (b) $ 52,046 Derivative payables where an appropriate legal opinion has not been either sought or obtained 13,351 13,351 19,070 19,070 Total derivative payables recognized on the Consolidated balance sheets $ 1,037,512 $ 57,140 $ 1,310,773 $ 71,116 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Included cash collateral netted of $68.2 billion and $64.2 billion related to OTC and OTC-cleared derivatives at September 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 consists 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 September 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 receivables collateral September 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 $ 51,678 $ (15,706 ) (a) $ 35,972 $ 58,258 $ (16,194 ) (a) $ 42,064 Derivative payables collateral (b) September 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 $ 43,789 $ (8,424 ) (a) $ 35,365 $ 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 payables 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 September 30, 2015 , and December 31, 2014 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2015 December 31, 2014 Aggregate fair value of net derivative payables $ 24,822 $ 32,303 Collateral posted 22,858 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 September 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 September 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) $ 895 $ 3,164 $ 1,046 $ 3,331 Amount required to settle contracts with termination triggers upon downgrade (b) 287 1,141 366 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 September 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 nine months ended September 30, 2015 and 2014 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 1,298 $ (1,071 ) $ 227 $ 8 $ 219 Foreign exchange (b) 1,012 (998 ) 14 — 14 Commodity (c) 303 (271 ) 32 (3 ) 35 Total $ 2,613 $ (2,340 ) $ 273 $ 5 $ 268 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2014 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (286 ) $ 651 $ 365 $ 27 $ 338 Foreign exchange (b) 6,008 (6,052 ) (44 ) — (44 ) Commodity (c) 284 (236 ) 48 10 38 Total $ 6,006 $ (5,637 ) $ 369 $ 37 $ 332 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 363 $ 390 $ 753 $ 6 $ 747 Foreign exchange (b) 5,369 (5,360 ) 9 — 9 Commodity (c) 867 (874 ) (7 ) (14 ) 7 Total $ 6,599 $ (5,844 ) $ 755 $ (8 ) $ 763 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2014 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 1,035 $ (17 ) $ 1,018 $ 99 $ 919 Foreign exchange (b) 5,222 (5,421 ) (199 ) — (199 ) Commodity (c) (97 ) 278 181 38 143 Total $ 6,160 $ (5,160 ) $ 1,000 $ 137 $ 863 (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 nine months ended September 30, 2015 and 2014 , respectively. Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 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) $ 14 $ — $ 14 $ (70 ) $ (84 ) Foreign exchange (b) (19 ) — (19 ) (105 ) (86 ) Total $ (5 ) $ — $ (5 ) $ (175 ) $ (170 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 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) $ (12 ) $ — $ (12 ) $ 26 $ 38 Foreign exchange (b) 43 — 43 (92 ) (135 ) Total $ 31 $ — $ 31 $ (66 ) $ (97 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 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) $ (113 ) $ — $ (113 ) $ (90 ) $ 23 Foreign exchange (b) (74 ) — (74 ) (14 ) 60 Total $ (187 ) $ — $ (187 ) $ (104 ) $ 83 Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 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) $ (48 ) $ — $ (48 ) $ 160 $ 208 Foreign exchange (b) 81 — 81 (11 ) (92 ) Total $ 33 $ — $ 33 $ 149 $ 116 (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 nine months ended September 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 September 30, 2015 and 2014, and nine months ended September 30, 2014. Over the next 12 months, the Firm expects that $11 million (after-tax) of net gains recorded in AOCI at September 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 8 years . For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately 2 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 nine months ended September 30, 2015 and 2014 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2015 2014 Three months ended September 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 $ (103 ) $ 908 $ (114 ) $ 1,185 Gains/(losses) recorded in income and 2015 2014 Nine months ended September 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 $ (292 ) $ 1,651 $ (341 ) $ 823 (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 nine months ended September 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 Nine months ended (in millions) 2015 2014 2015 2014 Contract type Interest rate (a) $ 665 $ 321 $ 785 $ 1,428 Credit (b) 76 1 52 (40 ) Foreign exchange (c) 26 (2 ) 21 (5 ) Commodity (d) — 16 (13 ) 178 Total $ 767 $ 336 $ 845 $ 1,561 (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 September 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 $ (1,683,730 ) $ 1,699,718 $ 15,988 $ 14,572 Other credit derivatives (a) (44,493 ) 41,960 (2,533 ) 18,217 Total credit derivatives (1,728,223 ) 1,741,678 13,455 32,789 Credit-related notes (22 ) — (22 ) 4,357 Total $ (1,728,245 ) $ 1,741,678 $ 13,433 $ 37,146 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 September 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 J |
Noninterest revenue
Noninterest revenue | 9 Months Ended |
Sep. 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 September 30, Nine months ended (in millions) 2015 2014 2015 2014 Underwriting Equity $ 257 $ 414 $ 1,108 $ 1,244 Debt 855 710 2,621 2,269 Total underwriting 1,112 1,124 3,729 3,513 Advisory 492 414 1,502 1,196 Total investment banking fees $ 1,604 $ 1,538 $ 5,231 $ 4,709 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 September 30, Nine months ended (in millions) 2015 2014 2015 2014 Trading revenue by instrument type Interest rate $ 530 $ 655 $ 1,836 $ 1,636 Credit 438 556 1,477 1,685 Foreign exchange 607 381 2,014 1,249 Equity 637 638 2,593 2,202 Commodity (a) 156 411 745 1,446 Total trading revenue 2,368 2,641 8,665 8,218 Private equity gains (b) (1 ) 325 191 978 Principal transactions $ 2,367 $ 2,966 $ 8,856 $ 9,196 (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 September 30, Nine months ended (in millions) 2015 2014 2015 2014 Asset management fees Investment management fees (a) $ 2,327 $ 2,311 $ 7,017 $ 6,667 All other asset management fees (b) 92 120 290 374 Total asset management fees 2,419 2,431 7,307 7,041 Total administration fees (c) 486 536 1,520 1,627 Commission and other fees Brokerage commissions 575 567 1,761 1,766 All other commissions and fees 365 444 1,079 1,387 Total commissions and fees 940 1,011 2,840 3,153 Total asset management, administration and commissions $ 3,845 $ 3,978 $ 11,667 $ 11,821 (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 Nine months ended (in millions) 2015 2014 2015 2014 Operating lease income $ 536 $ 433 $ 1,509 $ 1,252 |
Interest income and interest ex
Interest income and interest expense | 9 Months Ended |
Sep. 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 Nine months ended (in millions) 2015 2014 2015 2014 Interest income Loans $ 8,433 $ 8,060 $ 24,459 $ 24,138 Taxable securities 1,553 1,903 4,885 5,743 Nontaxable securities (a) 439 387 1,260 1,041 Total securities 1,992 2,290 6,145 6,784 Trading assets 1,538 1,855 5,008 5,453 Federal funds sold and securities purchased under resale agreements 431 400 1,167 1,234 Securities borrowed (b) (118 ) (150 ) (397 ) (369 ) Deposits with banks 291 300 944 835 Other assets (c) 172 171 492 505 Total interest income 12,739 12,926 37,818 38,580 Interest expense Interest-bearing deposits 293 399 965 1,242 Short-term and other liabilities (d) 315 238 991 1,121 Long-term debt 1,092 1,084 3,254 3,337 Beneficial interests issued by consolidated VIEs 115 98 323 308 Total interest expense 1,815 1,819 5,533 6,008 Net interest income 10,924 11,107 32,285 32,572 Provision for credit losses 682 757 2,576 2,299 Net interest income after provision for credit losses $ 10,242 $ 10,350 $ 29,709 $ 30,273 (a) Represents securities which are tax-exempt for U.S. federal income tax purposes. (b) Negative interest income for the three and nine months ended September 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 | 9 Months Ended |
Sep. 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 September 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 85 $ 70 $ 9 $ 8 $ — $ — Interest cost on benefit obligations 125 133 28 34 8 9 Expected return on plan assets (232 ) (247 ) (38 ) (42 ) (27 ) (25 ) Amortization: Net (gain)/loss 62 6 9 12 — — Prior service cost/(credit) (9 ) (9 ) — (1 ) — — Net periodic defined benefit cost 31 (47 ) 8 11 (19 ) (16 ) Other defined benefit pension plans (a) 3 3 2 2 NA NA Total defined benefit plans 34 (44 ) 10 13 (19 ) (16 ) Total defined contribution plans 119 115 85 87 NA NA Total pension and OPEB cost included in compensation expense $ 153 $ 71 $ 95 $ 100 $ (19 ) $ (16 ) Pension plans U.S. Non-U.S. OPEB plans Nine months ended September 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 255 $ 210 $ 28 $ 25 $ — $ — Interest cost on benefit obligations 375 401 84 104 24 27 Expected return on plan assets (697 ) (739 ) (113 ) (131 ) (80 ) (75 ) Amortization: Net (gain)/loss 185 19 27 36 — — Prior service cost/(credit) (26 ) (31 ) (1 ) (1 ) — — Net periodic defined benefit cost 92 (140 ) 25 33 (56 ) (48 ) Other defined benefit pension plans (a) 10 10 7 5 NA NA Total defined benefit plans 102 (130 ) 32 38 (56 ) (48 ) Total defined contribution plans 323 333 254 254 NA NA Total pension and OPEB cost included in compensation expense $ 425 $ 203 $ 286 $ 292 $ (56 ) $ (48 ) (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 $15.9 billion and $3.5 billion , as of September 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 September 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 | 9 Months Ended |
Sep. 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 September 30, Nine 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 $ 269 $ 326 $ 856 $ 1,071 Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees 195 213 683 610 Total noncash compensation expense related to employee stock-based incentive plans $ 464 $ 539 $ 1,539 $ 1,681 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 | 9 Months Ended |
Sep. 30, 2015 | |
Noninterest Expense [Abstract] | |
Noninterest expense | For details on Noninterest expense, see Consolidated statements of income on page 86 . Included within other expense is the following: Three months ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Firmwide legal expense $ 1,347 $ 1,062 $ 2,325 $ 1,769 Federal Deposit Insurance Corporation-related (“FDIC”) expense 298 250 916 809 |
Securities
Securities | 9 Months Ended |
Sep. 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 the Firm's asset-liability management objectives. At September 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. September 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) $ 52,800 $ 1,811 $ 33 $ 54,578 $ 63,089 $ 2,302 $ 72 $ 65,319 Residential: Prime and Alt-A 6,811 66 19 6,858 5,595 78 29 5,644 Subprime 301 8 — 309 677 14 — 691 Non-U.S. 28,841 606 9 29,438 43,550 1,010 — 44,560 Commercial 22,763 287 157 22,893 20,687 438 17 21,108 Total mortgage-backed securities 111,516 2,778 218 114,076 133,598 3,842 118 137,322 U.S. Treasury and government agencies (a) 11,482 1 136 11,347 13,603 56 14 13,645 Obligations of U.S. states and municipalities 30,923 1,872 86 32,709 27,841 2,243 16 30,068 Certificates of deposit 415 3 — 418 1,103 1 1 1,103 Non-U.S. government debt securities 38,197 960 37 39,120 51,492 1,272 21 52,743 Corporate debt securities 14,747 185 151 14,781 18,158 398 24 18,532 Asset-backed securities: Collateralized loan obligations 31,381 69 146 31,304 30,229 147 182 30,194 Other 10,114 94 77 10,131 12,442 184 11 12,615 Total available-for-sale debt securities 248,775 5,962 851 253,886 288,466 8,143 387 296,222 Available-for-sale equity securities 2,587 18 — 2,605 2,513 17 — 2,530 Total available-for-sale securities $ 251,362 $ 5,980 $ 851 $ 256,491 $ 290,979 $ 8,160 $ 387 $ 298,752 Total held-to-maturity securities (b) $ 50,169 $ 1,724 $ 48 $ 51,845 $ 49,252 $ 1,902 $ — $ 51,154 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $41.6 billion and $59.3 billion at September 30, 2015, and December 31, 2014 , respectively. (b) As of September 30, 2015, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $31.9 billion , MBS issued by U.S. government agencies with an amortized cost of $5.6 billion and obligations of U.S. states and municipalities with an amortized cost of $12.7 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 September 30, 2015, and December 31, 2014. Securities with gross unrealized losses Less than 12 months 12 months or more September 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 $ 4,797 $ 19 $ 717 $ 14 $ 5,514 $ 33 Residential: Prime and Alt-A 2,294 14 251 5 2,545 19 Subprime — — — — — — Non-U.S. 1,477 9 — — 1,477 9 Commercial 10,256 155 269 2 10,525 157 Total mortgage-backed securities 18,824 197 1,237 21 20,061 218 U.S. Treasury and government agencies 11,205 136 — — 11,205 136 Obligations of U.S. states and municipalities 4,681 79 218 7 4,899 86 Certificates of deposit — — — — — — Non-U.S. government debt securities 2,941 30 205 7 3,146 37 Corporate debt securities 4,107 142 634 9 4,741 151 Asset-backed securities: Collateralized loan obligations 11,843 44 10,414 102 22,257 146 Other 4,800 77 — — 4,800 77 Total available-for-sale debt securities 58,401 705 12,708 146 71,109 851 Available-for-sale equity securities — — — — — — Held-to-maturity securities 4,824 48 — — 4,824 48 Total securities with gross unrealized losses $ 63,225 $ 753 $ 12,708 $ 146 $ 75,933 $ 899 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 September 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 September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Realized gains $ 65 $ 41 $ 250 $ 265 Realized losses (20 ) (33 ) (107 ) (215 ) OTTI losses (12 ) (2 ) (14 ) (2 ) Net securities gains $ 33 $ 6 $ 129 $ 48 OTTI losses Credit-related losses recognized in income $ — $ — $ (1 ) $ — Securities the Firm intends to sell (12 ) (2 ) (13 ) (2 ) Total OTTI losses recognized in income $ (12 ) $ (2 ) $ (14 ) $ (2 ) Changes in the credit loss component of credit-impaired debt securities The following table presents a rollforward for the three and nine months ended September 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 September 30, Nine months ended September 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 September 30, 2015, of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 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 $ 2,333 $ 10,991 $ 6,054 $ 92,138 $ 111,516 Fair value 2,344 11,184 6,263 94,285 114,076 Average yield (b) 1.40 % 1.76 % 3.23 % 2.95 % 2.81 % U.S. Treasury and government agencies Amortized cost $ 100 $ — $ 10,228 $ 1,154 $ 11,482 Fair value 100 — 10,121 1,126 11,347 Average yield (b) 0.13 % — % 0.22 % 0.43 % 0.24 % Obligations of U.S. states and municipalities Amortized cost $ 139 $ 765 $ 1,440 $ 28,579 $ 30,923 Fair value 142 788 1,513 30,266 32,709 Average yield (b) 6.55 % 3.39 % 5.43 % 6.68 % 6.54 % Certificates of deposit Amortized cost $ 364 $ 51 $ — $ — $ 415 Fair value 365 53 — — 418 Average yield (b) 5.69 % 3.28 % — % — % 5.39 % Non-U.S. government debt securities Amortized cost $ 7,243 $ 11,485 $ 17,299 $ 2,170 $ 38,197 Fair value 7,479 11,750 17,607 2,284 39,120 Average yield (b) 3.28 % 1.75 % 1.05 % 0.72 % 1.64 % Corporate debt securities Amortized cost $ 3,486 $ 8,243 $ 2,875 $ 143 $ 14,747 Fair value 3,510 8,287 2,846 138 14,781 Average yield (b) 2.18 % 2.29 % 2.77 % 4.46 % 2.38 % Asset-backed securities Amortized cost $ 513 $ 473 $ 20,162 $ 20,347 $ 41,495 Fair value 514 476 20,139 20,306 41,435 Average yield (b) 0.95 % 1.19 % 1.76 % 1.79 % 1.76 % Total available-for-sale debt securities Amortized cost $ 14,178 $ 32,008 $ 58,058 $ 144,531 $ 248,775 Fair value 14,454 32,538 58,489 148,405 253,886 Average yield (b) 2.69 % 1.93 % 1.57 % 3.47 % 2.78 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,587 $ 2,587 Fair value — — — 2,605 2,605 Average yield (b) — % — % — % 0.02 % 0.02 % Total available-for-sale securities Amortized cost $ 14,178 $ 32,008 $ 58,058 $ 147,118 $ 251,362 Fair value 14,454 32,538 58,489 151,010 256,491 Average yield (b) 2.69 % 1.93 % 1.57 % 3.41 % 2.75 % Total held-to-maturity securities Amortized cost $ 52 $ — $ 901 $ 49,216 $ 50,169 Fair value 52 — 942 50,851 51,845 Average yield (b) 4.41% — % 4.98 % 3.97 % 3.99% (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at September 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 ten 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, two years for agency residential collateralized mortgage obligations and three years for U.S. nonagency residential collateralized mortgage obligations. |
Securities financing activities
Securities financing activities | 9 Months Ended |
Sep. 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 September 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. September 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 $ 375,841 $ (161,197 ) $ 214,644 $ 347,142 $ (142,719 ) $ 204,423 Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained 2,710 2,710 10,598 10,598 Total securities purchased under resale agreements $ 378,551 $ (161,197 ) $ 217,354 (a) $ 357,740 $ (142,719 ) $ 215,021 (a) Securities borrowed $ 105,668 NA $ 105,668 (b)(c) $ 110,435 NA $ 110,435 (b)(c) (a) At September 30, 2015 , and December 31, 2014 , included securities purchased under resale agreements of $27.4 billion and $28.6 billion , respectively, accounted for at fair value. (b) At September 30, 2015 , and December 31, 2014 , included securities borrowed of $405 million and $992 million , respectively, accounted for at fair value. (c) Included $21.5 billion and $27.7 billion at September 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 September 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. September 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 $ 214,644 $ (211,255 ) $ (518 ) $ 2,871 $ 204,423 $ (201,375 ) $ (246 ) $ 2,802 Securities borrowed $ 84,157 $ (81,413 ) $ — $ 2,744 $ 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 September 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. September 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 $ 311,565 $ (161,197 ) $ 150,368 $ 290,529 $ (142,719 ) $ 147,810 Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained (a) 14,070 14,070 21,996 21,996 Total securities sold under repurchase agreements $ 325,635 $ (161,197 ) $ 164,438 (c) $ 312,525 $ (142,719 ) $ 169,806 (c) Securities loaned (b) $ 20,738 NA $ 20,738 (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 $5.8 billion and $4.1 billion at September 30, 2015 , and December 31, 2014 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (c) At September 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 September 30, 2015 , and December 31, 2014 . (e) Included $41 million and $271 million at September 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 September 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. September 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 $ 150,368 $ (146,749 ) $ (442 ) $ 3,177 $ 147,810 $ (145,732 ) $ (497 ) $ 1,581 Securities loaned $ 20,697 $ (20,553 ) $ — $ 144 $ 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 September 30, 2015 . Gross liability balance September 30, 2015 (in millions) Securities sold under repurchase agreements Securities loaned Mortgage-backed securities $ 22,060 $ — U.S. Treasury and government agencies 166,522 223 Obligations of U.S. states and municipalities 1,718 — Non-U.S. government debt 89,573 621 Corporate debt securities 19,580 110 Asset-backed securities 5,238 — Equity securities 20,944 19,784 Total $ 325,635 $ 20,738 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 117,879 $ 124,711 $ 27,052 $ 55,993 $ 325,635 Total securities loaned 9,463 649 319 10,307 20,738 Transfers not qualifying for sale accounting At September 30, 2015 , and December 31, 2014 , the Firm held $11.2 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 | 9 Months Ended |
Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans | Loans Loan accounting framework The accounting for a loan depends on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. The Firm accounts for loans based on the following categories: • Originated or purchased loans held-for-investment (i.e., “retained”), other than purchased credit-impaired (“PCI”) loans • Loans held-for-sale • Loans at fair value • PCI loans held-for-investment For a detailed discussion of loans, including accounting policies, see Note 14 of JPMorgan Chase ’s 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. September 30, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 331,732 $ 125,634 $ 346,927 $ 804,293 (b) Held-for-sale 237 1,345 447 2,029 At fair value — — 3,135 3,135 Total $ 331,969 $ 126,979 $ 350,509 $ 809,457 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 $628 million and $1.3 billion at September 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 September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 1,196 (a)(b) $ — $ 1,199 $ 2,395 $ 1,945 (a)(b) $ — $ 312 $ 2,257 Sales 1,130 — 1,856 2,986 1,573 272 1,814 3,659 Retained loans reclassified to held-for-sale — 79 20 99 232 186 50 468 2015 2014 Nine months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 3,918 (a)(b) $ — $ 1,894 $ 5,812 $ 5,694 (a)(b) $ — $ 589 $ 6,283 Sales 4,073 1,269 7,381 12,723 3,816 272 6,493 10,581 Retained loans reclassified to held-for-sale 1,272 79 455 1,806 1,034 401 559 1,994 (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 $14.4 billion and $4.1 billion for the three months ended September 30, 2015 and 2014 , respectively, and $39.8 billion and $8.2 billion for the nine months ended September 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 Nine 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 $ 62 $ 97 $ 239 $ 223 Credit card 13 (9 ) 22 (9 ) Wholesale 33 26 32 53 Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) $ 108 $ 114 $ 293 $ 267 (a) Excludes sales related to loans accounted for at fair value. |
Consumer, excluding credit card | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans | Consumer, excluding credit card loan portfolio Consumer loans, excluding credit card loans, consist primarily of residential mortgages, home equity loans and lines of credit, auto loans, business banking loans, and student and other loans, with a focus on serving the prime consumer credit market. The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period, and certain payment-option loans originated by Washington Mutual that may result in negative amortization. The table below provides information about retained consumer loans, excluding credit card, by class. (in millions) September 30, December 31, Residential real estate – excluding PCI Home equity: Senior lien $ 15,156 $ 16,367 Junior lien 31,974 36,375 Mortgages: Prime, including option ARMs 150,114 104,921 Subprime 3,853 5,056 Other consumer loans Auto 57,174 54,536 Business banking 20,871 20,058 Student and other 10,354 10,970 Residential real estate – PCI Home equity 15,490 17,095 Prime mortgage 9,196 10,220 Subprime mortgage 3,329 3,673 Option ARMs 14,221 15,708 Total retained loans $ 331,732 $ 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 14,571 $ 15,730 $ 31,289 $ 35,575 $ 140,579 $ 93,951 $ 3,244 $ 4,296 $ 189,683 $ 149,552 30–149 days past due 248 275 447 533 3,513 4,091 396 489 4,604 5,388 150 or more days past due 337 362 238 267 6,022 6,879 213 271 6,810 7,779 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 % of 30+ days past due to total retained loans (b) 3.86 % 3.89 % 2.14 % 2.20 % 0.83 % 1.42 % 15.81 % 15.03 % 1.55 % 2.27 % 90 or more days past due and government guaranteed (c) $ — $ — $ — $ — $ 6,405 $ 7,544 $ — $ — $ 6,405 $ 7,544 Nonaccrual loans 883 938 1,373 1,590 1,863 2,190 812 1,036 4,931 5,754 Current estimated LTV ratios (d)(e)(f) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 15 $ 21 $ 252 $ 467 $ 62 $ 120 $ 3 $ 10 $ 332 $ 618 Less than 660 7 10 69 138 62 103 20 51 158 302 101% to 125% and refreshed FICO scores: Equal to or greater than 660 87 134 2,124 3,149 434 648 36 118 2,681 4,049 Less than 660 50 69 607 923 267 340 139 298 1,063 1,630 80% to 100% and refreshed FICO scores: Equal to or greater than 660 450 633 5,014 6,481 3,497 3,863 178 432 9,139 11,409 Less than 660 172 226 1,422 1,780 852 1,026 468 770 2,914 3,802 Less than 80% and refreshed FICO scores: Equal to or greater than 660 12,331 13,048 19,242 20,030 128,678 81,805 1,406 1,586 161,657 116,469 Less than 660 2,044 2,226 3,244 3,407 5,214 4,906 1,603 1,791 12,105 12,330 U.S. government-guaranteed — — — — 11,048 12,110 — — 11,048 12,110 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 Geographic region California $ 2,090 $ 2,232 $ 7,123 $ 8,144 $ 42,588 $ 28,133 $ 541 $ 718 $ 52,342 $ 39,227 New York 2,591 2,805 6,819 7,685 19,695 16,550 539 677 29,644 27,717 Illinois 1,219 1,306 2,321 2,605 10,588 6,654 151 207 14,279 10,772 Texas 1,624 1,845 977 1,087 8,143 4,935 148 177 10,892 8,044 Florida 828 861 1,688 1,923 6,388 5,106 432 632 9,336 8,522 New Jersey 652 654 2,009 2,233 4,930 3,361 178 227 7,769 6,475 Washington 455 506 1,056 1,216 3,662 2,410 84 109 5,257 4,241 Arizona 843 927 1,396 1,595 2,800 1,805 77 112 5,116 4,439 Michigan 683 736 734 848 1,718 1,203 84 121 3,219 2,908 Ohio 1,053 1,150 670 778 1,061 615 85 112 2,869 2,655 All other (g) 3,118 3,345 7,181 8,261 48,541 34,149 1,534 1,964 60,374 47,719 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.7 billion and $2.6 billion ; 30 – 149 days past due included $3.0 billion and $3.5 billion ; and 150 or more days past due included $5.3 billion and $6.0 billion at September 30, 2015 , and December 31, 2014 , respectively. (b) At September 30, 2015 , and December 31, 2014 , Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.3 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 September 30, 2015 , and December 31, 2014 , these balances included $3.8 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 September 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 September 30, 2015 , and December 31, 2014 , included mortgage loans insured by U.S. government agencies of $11.0 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 September 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 18,883 $ 25,252 1.57 % 1.75 % Beyond the revolving period 10,509 7,979 3.03 3.16 HELOANs 2,582 3,144 2.75 3.34 Total $ 31,974 $ 36,375 2.14 % 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 allow 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 561 $ 552 $ 726 $ 722 $ 3,954 $ 4,949 $ 1,437 $ 2,239 $ 6,678 $ 8,462 Without an allowance (a) 502 549 583 582 1,019 1,196 491 639 2,595 2,966 Total impaired loans (b)(c) $ 1,063 $ 1,101 $ 1,309 $ 1,304 $ 4,973 $ 6,145 $ 1,928 $ 2,878 $ 9,273 $ 11,428 Allowance for loan losses related to impaired loans $ 53 $ 84 $ 86 $ 147 $ 93 $ 127 $ 15 $ 64 $ 247 $ 422 Unpaid principal balance of impaired loans (d) 1,395 1,451 2,611 2,603 6,429 7,813 2,968 4,200 13,403 16,067 Impaired loans on nonaccrual status (e) 596 628 641 632 1,373 1,559 718 931 3,328 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 September 30, 2015 , Chapter 7 residential real estate loans included approximately 18% of senior lien home equity, 10% of junior lien home equity, 19% of prime mortgages, including option ARMs, and 14% of subprime mortgages that were 30 days or more past due. (b) At September 30, 2015 , and December 31, 2014 , $4.2 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 September 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 September 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 September 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 $ 1,072 $ 1,115 $ 13 $ 14 $ 8 $ 9 Junior lien 1,279 1,310 19 20 12 13 Mortgages Prime, including option ARMs 5,038 6,657 52 65 12 14 Subprime 1,942 3,411 30 45 10 13 Total residential real estate – excluding PCI $ 9,331 $ 12,493 $ 114 $ 144 $ 42 $ 49 Nine months ended September 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 $ 1,084 $ 1,128 $ 39 $ 42 $ 26 $ 28 Junior lien 1,287 1,316 59 61 38 40 Mortgages Prime, including option ARMs 5,562 6,811 166 199 36 41 Subprime 2,434 3,551 102 141 32 39 Total residential real estate – excluding PCI $ 10,367 $ 12,806 $ 366 $ 443 $ 132 $ 148 (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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Home equity: Senior lien $ 29 $ 27 $ 87 $ 74 Junior lien 110 53 199 157 Mortgages: Prime, including option ARMs 49 89 170 208 Subprime 13 29 47 82 Total residential real estate – excluding PCI $ 201 $ 198 $ 503 $ 521 Nature and extent of modifications The U.S. Treasury's Making Home Affordable (“MHA”) programs, 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 September 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 333 232 1,502 164 283 274 381 502 2,499 1,172 Number of loans permanently modified 273 333 680 581 414 1,267 391 1,420 1,758 3,601 Concession granted: (a) Interest rate reduction 77 % 43 % 68 % 84 % 76 % 23 % 70 % 26 % 72 % 36 % Term or payment extension 90 53 87 84 77 18 82 29 84 36 Principal and/or interest deferred 34 10 21 22 28 7 17 6 24 9 Principal forgiveness 3 50 5 20 25 73 34 72 15 62 Other (b) — — — — 10 4 15 7 6 4 Nine months ended September 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 983 651 1,749 505 822 790 1,170 1,530 4,724 3,476 Number of loans permanently modified 849 854 1,830 2,238 1,122 2,184 1,275 2,680 5,076 7,956 Concession granted: (a) Interest rate reduction 75 % 56 % 73 % 85 % 72 % 40 % 70 % 43 % 73 % 56 % Term or payment extension 85 71 87 83 82 46 80 49 84 60 Principal and/or interest deferred 32 12 24 22 33 17 21 11 26 16 Principal forgiveness 5 38 4 26 25 54 32 57 16 45 Other (b) — — — — 9 9 12 9 5 6 (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 September 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 5.55 % 6.05 % 4.96 % 4.81 % 5.07 % 4.16 % 6.82 % 6.97 % 5.57 % 5.14 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.61 3.13 2.15 2.07 2.61 2.77 3.11 3.45 2.65 2.87 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 17 19 25 25 24 22 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 33 31 34 35 36 37 37 35 36 35 Charge-offs recognized upon permanent modification $ 1 $ 1 $ — $ 2 $ 4 $ 1 $ — $ 1 $ 5 $ 5 Principal deferred 3 1 4 2 9 8 4 4 20 15 Principal forgiven — 6 — 3 10 51 9 49 19 109 Balance of loans that redefaulted within one year of permanent modification (a) $ 4 $ 5 $ 1 $ 3 $ 23 $ 35 $ 15 $ 32 $ 43 $ 75 Nine months ended September 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 5.82 % 6.45 % 4.85 % 4.83 % 5.08 % 4.81 % 6.73 % 7.29 % 5.57 % 5.63 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.74 3.03 2.20 1.95 2.50 2.70 3.17 3.44 2.65 2.79 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 18 19 25 25 24 24 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 32 30 34 35 37 37 36 36 36 36 Charge-offs recognized upon permanent modification $ 1 $ 2 $ 2 $ 24 $ 7 $ 5 $ 2 $ 2 $ 12 $ 33 Principal deferred 10 3 10 8 31 31 14 15 65 57 Principal forgiven 2 12 — 20 26 76 26 81 54 189 Balance of loans that redefaulted within one year of permanent modification (a) $ 10 $ 14 $ 4 $ 8 $ 58 $ 97 $ 44 $ 72 $ 116 $ 191 (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 September 30, 2015 , the weighted-average estimated remaining lives of residential real estate loans, excluding PCI loans, permanently modified in TDRs were 10 years for senior lien home equity, 9 years for junior lien home equity, 10 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 September 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 $1.2 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 56,566 $ 53,866 $ 20,583 $ 19,710 $ 9,636 $ 10,080 $ 86,785 $ 83,656 30–119 days past due 600 663 185 208 469 576 1,254 1,447 120 or more days past due 8 7 103 140 249 314 360 461 Total retained loans $ 57,174 $ 54,536 $ 20,871 $ 20,058 $ 10,354 $ 10,970 $ 88,399 $ 85,564 % of 30+ days past due to total retained loans 1.06 % 1.23 % 1.38 % 1.73 % 2.04 % (d) 2.15 % (d) 1.25 % (d) 1.47 % (d) 90 or more days past due and still accruing (b) $ — $ — $ — $ — $ 289 $ 367 $ 289 $ 367 Nonaccrual loans 110 115 236 279 253 270 599 664 Geographic region California $ 6,836 $ 6,294 $ 3,368 $ 3,008 $ 1,093 $ 1,143 $ 11,297 $ 10,445 New York 3,730 3,662 3,251 3,187 1,230 1,259 8,211 8,108 Illinois 3,424 3,175 1,401 1,373 697 729 5,522 5,277 Texas 6,042 5,608 2,604 2,626 845 868 9,491 9,102 Florida 2,607 2,301 930 827 525 521 4,062 3,649 New Jersey 1,972 1,945 504 451 384 378 2,860 2,774 Washington 1,098 1,019 269 258 215 235 1,582 1,512 Arizona 1,923 2,003 1,185 1,083 236 239 3,344 3,325 Michigan 1,533 1,633 1,366 1,375 430 466 3,329 3,474 Ohio 2,284 2,157 1,366 1,354 578 629 4,228 4,140 All other 25,725 24,739 4,627 4,516 4,121 4,503 34,473 33,758 Total retained loans $ 57,174 $ 54,536 $ 20,871 $ 20,058 $ 10,354 $ 10,970 $ 88,399 $ 85,564 Loans by risk ratings (c) Noncriticized $ 10,079 $ 9,822 $ 15,224 $ 14,619 NA NA $ 25,303 $ 24,441 Criticized performing 85 35 802 708 NA NA 887 743 Criticized nonaccrual — — 183 213 NA NA 183 213 (a) Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.0 billion and $4.3 billion ; 30 - 119 days past due included $279 million and $364 million ; and 120 or more days past due included $228 million and $290 million at September 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) September 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 $507 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) September 30, December 31, Impaired loans With an allowance $ 512 $ 557 Without an allowance (a) 32 35 Total impaired loans (b)(c) $ 544 $ 592 Allowance for loan losses related to impaired loans $ 112 $ 117 Unpaid principal balance of impaired loans (d) 657 719 Impaired loans on nonaccrual status 430 456 (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 $543 million and $603 million for the three months ended September 30, 2015 and 2014 , respectively, and $565 million and $701 million for the nine months ended September 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 nine months ended September 30, 2015 and 2014 . (d) Represents the contractual amount of principal owed at September 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 nine months ended September 30, 2015 and 2014. (in millions) September 30, December 31, Loans modified in TDRs (a)(b) $ 398 $ 442 TDRs on nonaccrual status 284 306 (a) The impact of these modifications was not material to the Firm for the three and nine months ended September 30, 2015 and 2014 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of September 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Carrying value (a) $ 15,490 $ 17,095 $ 9,196 $ 10,220 $ 3,329 $ 3,673 $ 14,221 $ 15,708 $ 42,236 $ 46,696 Related allowance for loan losses (b) 1,708 1,758 1,031 1,193 — 180 49 194 2,788 3,325 Loan delinquency (based on unpaid principal balance) Current $ 14,840 $ 16,295 $ 8,159 $ 8,912 $ 3,305 $ 3,565 $ 12,733 $ 13,814 $ 39,037 $ 42,586 30–149 days past due 317 445 423 500 465 536 705 858 1,910 2,339 150 or more days past due 710 1,000 638 837 381 551 1,328 1,824 3,057 4,212 Total loans $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 49,137 % of 30+ days past due to total loans 6.47 % 8.15 % 11.51 % 13.05 % 20.38 % 23.37 % 13.77 % 16.26 % 11.29 % 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 $ 298 $ 513 $ 19 $ 45 $ 22 $ 34 $ 48 $ 89 $ 387 $ 681 Less than 660 159 273 50 97 88 160 70 150 367 680 101% to 125% and refreshed FICO scores: Equal to or greater than 660 1,676 2,245 269 456 127 215 338 575 2,410 3,491 Less than 660 774 1,073 259 402 318 509 499 771 1,850 2,755 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,668 4,171 1,579 2,154 405 519 1,815 2,418 7,467 9,262 Less than 660 1,443 1,647 973 1,316 788 1,006 1,491 1,996 4,695 5,965 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,878 5,824 3,859 3,663 827 719 6,674 6,593 17,238 16,799 Less than 660 1,971 1,994 2,212 2,116 1,576 1,490 3,831 3,904 9,590 9,504 Total unpaid principal balance $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 49,137 Geographic region (based on unpaid principal balance) California $ 9,521 $ 10,671 $ 5,349 $ 5,965 $ 1,036 $ 1,138 $ 8,328 $ 9,190 $ 24,234 $ 26,964 New York 809 876 594 672 405 463 834 933 2,642 2,944 Illinois 371 405 272 301 201 229 343 397 1,187 1,332 Texas 235 273 97 92 248 281 77 85 657 731 Florida 1,533 1,696 611 689 381 432 1,231 1,440 3,756 4,257 New Jersey 319 348 243 279 142 165 483 553 1,187 1,345 Washington 850 959 199 225 84 95 348 395 1,481 1,674 Arizona 289 323 150 167 79 85 210 227 728 802 Michigan 46 53 148 166 116 130 159 182 469 531 Ohio 18 20 46 48 64 72 62 69 190 209 All other 1,876 2,116 1,511 1,645 1,395 1,562 2,691 3,025 7,473 8,348 Total unpaid principal balance $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 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 the unpaid principal balance as of September 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 5,888 $ 8,972 4.26 % 6.42 % Beyond the revolving period (c) 5,770 4,143 4.75 6.42 HELOANs 611 736 5.56 8.83 Total $ 12,269 $ 13,851 4.56 % 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 nine months ended September 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 September 30, Nine months ended September 30, 2015 2014 2015 2014 Beginning balance $ 13,741 $ 15,275 $ 14,592 $ 16,167 Accretion into interest income (424 ) (471 ) (1,290 ) (1,480 ) Changes in interest rates on variable-rate loans 3 (75 ) 21 (141 ) Other changes in expected cash flows (a) 511 242 508 425 Reclassification from nonaccretable difference (b) 90 — 90 $ — Balance at September 30 $ 13,921 $ 14,971 $ 13,921 $ 14,971 Accretable yield percentage 4.22 % 4.10 % 4.18 % 4.22 % (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 nine months ended September 30, 201 |
Credit card | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans | Credit card loan portfolio The table below sets forth information about the Firm’s credit card loans. (in millions, except ratios) September 30, December 31, Loan delinquency Current and less than 30 days past due and still accruing $ 123,901 $ 126,189 30–89 days past due and still accruing 908 943 90 or more days past due and still accruing 825 895 Nonaccrual loans — — Total retained credit card loans $ 125,634 $ 128,027 Loan delinquency ratios % of 30+ days past due to total retained loans 1.38 % 1.44 % % of 90+ days past due to total retained loans 0.66 0.70 Credit card loans by geographic region California $ 17,830 $ 17,940 Texas 11,270 11,088 New York 10,965 10,940 Illinois 7,389 7,497 Florida 7,375 7,398 New Jersey 5,668 5,750 Ohio 4,504 4,707 Pennsylvania 4,324 4,489 Michigan 3,448 3,552 Virginia 3,068 3,263 All other 49,793 51,403 Total retained credit card loans $ 125,634 $ 128,027 Percentage of portfolio based on carrying value with estimated refreshed FICO scores Equal to or greater than 660 85.1 % 85.7 % Less than 660 14.9 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) September 30, December 31, Impaired credit card loans with an allowance (a)(b) Credit card loans with modified payment terms (c) $ 1,370 $ 1,775 Modified credit card loans that have reverted to pre-modification payment terms (d) 193 254 Total impaired credit card loans (e) $ 1,563 $ 2,029 Allowance for loan losses related to impaired credit card loans $ 485 $ 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 September 30, 2015 , and December 31, 2014 , $122 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 $71 million and $95 million at September 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 Nine months ended (in millions) 2015 2014 2015 2014 Average impaired credit card loans $ 1,620 $ 2,342 $ 1,775 $ 2,630 Interest income on impaired credit card loans 20 29 64 97 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 $154 million and $196 million , for the three months ended September 30, 2015 and 2014 , respectively , and $483 million and $622 million for the nine months ended September 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 Nine months ended 2015 2014 2015 2014 Weighted-average interest rate of loans – before TDR 15.09 % 14.96 % 15.13 % 15.01 % Weighted-average interest rate of loans – after TDR 4.35 4.40 4.30 4.37 Loans that redefaulted within one year of modification (a) $ 23 $ 29 $ 65 $ 92 (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 26.04% and 27.91% as of September 30, 2015 , and December 31, 2014 , respectively. |
Wholesale | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans | Wholesale loan portfolio Wholesale loans include loans made to a variety of customers, ranging from large corporate and institutional clients to high-net-worth individuals. The primary credit quality indicator for wholesale loans is the risk rating assigned each loan. For further information on these risk ratings, see Note 14 and Note 15 of JPMorgan Chase ’s 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) Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loans by risk ratings Investment-grade $ 64,719 $ 63,069 $ 71,068 $ 61,006 $ 22,805 $ 27,111 $ 10,843 $ 8,393 $ 91,754 $ 82,087 $ 261,189 $ 241,666 Noninvestment-grade: Noncriticized 45,012 44,117 16,795 16,541 6,048 7,085 256 300 11,402 10,075 79,513 78,118 Criticized performing 3,304 2,251 1,361 1,313 296 316 7 3 171 236 5,139 4,119 Criticized nonaccrual 672 188 257 253 11 18 — — 146 140 1,086 599 Total noninvestment- grade 48,988 46,556 18,413 18,107 6,355 7,419 263 303 11,719 10,451 85,738 82,836 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 324,502 % of total criticized to total retained loans 3.50 % 2.22 % 1.81 % 1.98 % 1.05 % 0.97 % 0.06 % 0.03 % 0.31 % 0.41 % 1.79 % 1.45 % % of nonaccrual loans to total retained loans 0.59 0.17 0.29 0.32 0.04 0.05 — — 0.14 0.15 0.31 0.18 Loans by geographic distribution (a) Total non-U.S. $ 30,734 $ 33,739 $ 2,671 $ 2,099 $ 18,019 $ 20,944 $ 1,666 $ 1,122 $ 43,454 $ 42,961 $ 96,544 $ 100,865 Total U.S. 82,973 75,886 86,810 77,014 11,141 13,586 9,440 7,574 60,019 49,577 250,383 223,637 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 324,502 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 112,916 $ 108,857 $ 89,041 $ 78,552 $ 29,092 $ 34,408 $ 11,038 $ 8,627 $ 102,018 $ 91,168 $ 344,105 $ 321,612 30–89 days past due and still accruing 118 566 167 275 47 104 68 69 1,212 1,201 1,612 2,215 90 or more days past due and still accruing (c) 1 14 16 33 10 — — — 97 29 124 76 Criticized nonaccrual 672 188 257 253 11 18 — — 146 140 1,086 599 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Real estate retained loans $ 58,139 $ 51,049 $ 19,045 $ 17,438 $ 4,832 $ 4,264 $ 7,465 $ 6,362 $ 89,481 $ 79,113 Criticized exposure 515 652 978 841 40 42 85 31 1,618 1,566 % of criticized exposure to total real estate retained loans 0.89 % 1.28 % 5.14 % 4.82 % 0.83 % 0.98 % 1.14 % 0.49 % 1.81 % 1.98 % Criticized nonaccrual $ 114 $ 126 $ 100 $ 110 $ — $ — $ 43 $ 17 $ 257 $ 253 % of criticized nonaccrual to total real estate retained loans 0.20 % 0.25 % 0.53 % 0.63 % — % — % 0.58 % 0.27 % 0.29 % 0.32 % Wholesale impaired loans and loan modifications Wholesale impaired loans consist 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 578 $ 174 $ 167 $ 193 $ 10 $ 15 $ — $ — $ 86 $ 89 $ 841 $ 471 Without an allowance (a) 94 24 124 87 1 3 — — 61 52 280 166 Total impaired loans $ 672 $ 198 $ 291 $ 280 $ 11 $ 18 $ — $ — $ 147 $ 141 $ 1,121 (c) $ 637 (c) Allowance for loan losses related to impaired loans $ 216 $ 34 $ 20 $ 36 $ 2 $ 4 $ — $ — $ 43 $ 13 $ 281 $ 87 Unpaid principal balance of impaired loans (b) 721 266 356 345 14 22 — — 151 202 1,242 835 (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 September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Commercial and industrial $ 559 $ 245 $ 388 $ 262 Real estate 261 287 257 316 Financial institutions 12 17 14 19 Government agencies — — 1 — Other 122 162 114 163 Total (a) $ 954 $ 711 $ 774 $ 760 (a) The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the three and nine months ended September 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 September 30, 2015 and 2014 . |
Allowance for credit losses
Allowance for credit losses | 9 Months Ended |
Sep. 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 Nine months ended September 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 1,269 2,626 46 3,941 1,613 2,882 106 4,601 Gross recoveries (577 ) (278 ) (64 ) (919 ) (629 ) (311 ) (120 ) (1,060 ) Net charge-offs/(recoveries) 692 2,348 (18 ) 3,022 984 2,571 (14 ) 3,541 Write-offs of PCI loans (a) 162 — — 162 196 — — 196 Provision for loan losses (346 ) 2,348 461 2,463 180 2,371 (183 ) 2,368 Other (1 ) (5 ) 8 2 2 (5 ) (3 ) (6 ) Ending balance at September 30, $ 5,849 $ 3,434 $ 4,183 $ 13,466 $ 7,458 $ 3,590 $ 3,841 $ 14,889 Allowance for loan losses by impairment methodology Asset-specific (b) $ 359 $ 485 (c) $ 281 $ 1,125 $ 618 $ 500 (c) $ 124 $ 1,242 Formula-based 2,702 2,949 3,902 9,553 3,178 3,090 3,717 9,985 PCI 2,788 — — 2,788 3,662 — — 3,662 Total allowance for loan losses $ 5,849 $ 3,434 $ 4,183 $ 13,466 $ 7,458 $ 3,590 $ 3,841 $ 14,889 Loans by impairment methodology Asset-specific $ 9,817 $ 1,563 $ 1,121 $ 12,501 $ 12,779 $ 2,227 $ 664 $ 15,670 Formula-based 279,679 124,071 345,802 749,552 227,113 124,337 319,692 671,142 PCI 42,236 — 4 42,240 48,487 — 5 48,492 Total retained loans $ 331,732 $ 125,634 $ 346,927 $ 804,293 $ 288,379 $ 126,564 $ 320,361 $ 735,304 Impaired collateral-dependent loans Net charge-offs $ 84 $ — $ 2 $ 86 $ 105 $ — $ 8 $ 113 Loans measured at fair value of collateral less cost to sell 2,653 — 325 2,978 3,138 — 315 3,453 Allowance for lending-related commitments Beginning balance at January 1, $ 13 $ — $ 609 $ 622 $ 8 $ — $ 697 $ 705 Provision for lending-related commitments 1 — 112 113 1 — (70 ) (69 ) Other — — — — — — 1 1 Ending balance at September 30, $ 14 $ — $ 721 $ 735 $ 9 $ — $ 628 $ 637 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 69 $ 69 $ — $ — $ 68 $ 68 Formula-based 14 — 652 666 9 — 560 569 Total allowance for lending-related commitments $ 14 $ — $ 721 $ 735 $ 9 $ — $ 628 $ 637 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 176 $ 176 $ — $ — $ 134 $ 134 Formula-based 60,005 526,433 354,172 940,610 54,912 531,301 470,857 1,057,070 Total lending-related commitments $ 60,005 $ 526,433 $ 354,348 $ 940,786 $ 54,912 $ 531,301 $ 470,991 $ 1,057,204 (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 | 9 Months Ended |
Sep. 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 146 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 146 – 148 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 146 – 148 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 148 Municipal bond vehicles 148 – 149 Credit-related note and asset swap vehicles 149 The Firm also invests in and provides financing and other services to VIEs sponsored by third parties, as described on page 149 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 150 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 151 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 151 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) September 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 $ 88.7 $ 1.5 $ 73.8 $ 0.5 $ 1.7 $ 2.2 Subprime 25.2 0.1 23.3 0.1 — 0.1 Commercial and other (b) 125.6 0.2 87.3 0.5 3.6 4.1 Total $ 239.5 $ 1.8 $ 184.4 $ 1.1 $ 5.3 $ 6.4 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 151 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 $132 million and $64 million , respectively, at September 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 September 30, 2015 , and December 31, 2014 , 76% 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 $115 million and $185 million of noninvestment-grade retained interests at September 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 $239 million and $194 million of noninvestment-grade retained interests at September 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 September 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 150 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 150 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 September 30, 2015 and 2014 , the Firm transferred $6.6 billion and $7.5 billion respectively of securities to agency VIEs, and $50 million and $237 million , respectively, of securities to private-label VIEs. During the nine months ended September 30, 2015 and 2014 , the Firm transferred $ 16.8 billion and $ 20.8 billion respectively of securities to agency VIEs, and $ 777 million and $ 670 million , respectively, of securities to private-label VIEs. As of September 30, 2015 , and December 31, 2014 , the Firm did not consolidate any agency re-securitizations. As of September 30, 2015 , and December 31, 2014 , the Firm consolidated $48 million and $77 million , respectively, of assets, and $9 million and $21 million , respectively, of liabilities of private-label re-securitizations. See the table on page 150 of this Note for more information on consolidated re-securitization transactions. As of September 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 $2.2 billion and $2.9 billion , respectively. At September 30, 2015 , and December 31, 2014 , the Firm held approximately $1.8 billion and $2.4 billion , respectively, of interests in nonconsolidated agency re-securitization entities, and $2 million and $36 million , respectively, of senior and subordinated interests in nonconsolidated private-label re-securitization entities. See the table on page 151 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 $6.1 billion and $5.7 billion of the commercial paper issued by the Firm -administered multi-seller conduits at September 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 $6.9 billion and $9.9 billion at September 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 September 30, 2015 , and December 31, 2014 , including the ratings profile of the VIEs’ assets, was as follows. (in billions) (a) Fair value of assets held by VIEs Liquidity facilities Excess/(deficit) (b) Maximum exposure Nonconsolidated municipal bond vehicles September 30, 2015 $ 11.6 $ 6.5 $ 5.1 $ 6.5 December 31, 2014 11.5 6.3 5.2 6.3 Ratings profile of VIE assets (c) Fair value of assets held by VIEs Wt. avg. expected life of assets (years) Investment-grade Noninvestment- grade (in billions, except where otherwise noted) (a) AAA to AAA- AA+ to AA- A+ to A- BBB+ to BBB- BB+ and below September 30, 2015 2.7 8.2 0.7 — — 11.6 4.7 December 31, 2014 2.7 8.4 0.4 — — 11.5 4.9 (a) Includes municipal bond VIEs sponsored by third parties, but where the Firm provides the liquidity facility and serves as the remarketing agent. (b) Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (c) 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 September 30, 2015 , and December 31, 2014 . Assets Liabilities September 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 $ — $ 46.7 $ 0.7 $ 47.4 $ 30.1 $ — $ 30.1 Firm-administered multi-seller conduits — 19.0 — 19.0 13.0 — 13.0 Municipal bond vehicles 2.7 — — 2.7 2.6 — 2.6 Mortgage securitization entities (b) 1.2 1.4 — 2.6 0.9 0.7 1.6 Student loan securitization entities 0.1 2.0 0.1 2.2 1.9 — 1.9 Other 0.2 — 1.3 1.5 0.2 0.1 0.3 Total $ 4.2 $ 69.1 $ 2.1 $ 75.4 $ 48.7 $ 0.8 $ 49.5 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 $33.2 billion and $35.4 billion at September 30, 2015 , and December 31, 2014 , respectively. The maturities of the long-term beneficial interests as of September 30, 2015, were as follows: $5.0 billion under one year, $23.8 billion between one and five years, and $4.4 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 and nine months ended September 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 September 30, Nine months ended September 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 $ 971 $ 2,982 $ 484 $ 3,101 $ 2,663 $ 9,033 $ 1,144 $ 7,740 All cash flows during the period: Proceeds from new securitizations (b) $ 972 $ 2,995 $ 484 $ 3,141 $ 2,674 $ 9,053 $ 1,147 $ 7,849 Servicing fees collected 129 — 142 1 409 2 418 3 Purchases of previously transferred financial assets (or the underlying collateral) (c) 1 — 52 — 2 — 119 — Cash flows received on interests 122 172 43 56 308 379 128 515 (a) Excludes re-securitization transactions. (b) For the three and nine months ended September 30, 2015, $913 million and $2.6 billion , respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 and $59 million of proceeds classified as level 3 of the fair value hierarchy. For the three and nine months ended September 30, 2015, $3.0 billion and $9.0 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $5 million and $43 million , respectively, of proceeds classified as level 3 of the fair value hierarchy. For the three and nine months ended September 30, 2014, $484 million and $1.1 billion 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 nine months ended September 30, 2014, $3.1 billion and $7.4 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and zero and $130 million of proceeds classified as level 3 of the fair value hierarchy, and zero and $280 million of proceeds from commercial mortgage securitization were received as cash. All loans transferred into securitization vehicles during the three and nine months ended September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Carrying value of loans sold (a) $ 11,394 $ 12,396 $ 34,193 $ 38,919 Proceeds received from loan sales as cash 139 77 238 166 Proceeds from loans sales as securities (b) 11,170 12,250 33,758 38,446 Total proceeds received from loan sales (c) $ 11,309 $ 12,327 $ 33,996 $ 38,612 Gains on loan sales (d) $ 61 $ 86 $ 238 $ 205 (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 September 30, 2015, and December 31, 2014, the Firm had recorded on its Consolidated balance sheets $11.3 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 $327 million and $464 million as of September 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 September 30, 2015, and December 31, 2014, respectively; and liquidation losses for the three and nine months ended September 30, 2015 and 2014, respectively. Liquidation losses Securitized assets 90 days past due Three months ended September 30, Nine months ended September 30, (in millions) Sep 30, Dec 31, Sep 30, Dec 31, 2015 2014 2015 2014 Securitized loans (a) Residential mortgage: Prime / Alt-A & Option ARMs $ 73,779 $ 78,294 $ 9,481 $ 11,363 $ 486 $ 465 $ 1,402 $ 1,722 Subprime 23,300 25,659 5,730 6,473 380 353 1,105 1,556 Commercial and other 87,369 94,438 1,580 1,522 211 471 350 1,113 Total loans securitized (b) $ 184,448 $ 198,391 $ 16,791 $ 19,358 $ 1,077 $ 1,289 $ 2,857 $ 4,391 (a) Total assets held in securitization-related SPEs were $239.5 billion and $254.3 billion , respectively, at September 30, 2015, and December 31, 2014. The $184.4 billion and $198.4 billion , respectively, of loans securitized at September 30, 2015, and December 31, 2014, excluded: $53.3 billion and $52.2 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $1.8 billion and $3.7 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at September 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 | 9 Months Ended |
Sep. 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) September 30, December 31, Consumer & Community Banking $ 30,851 $ 30,941 Corporate & Investment Bank 6,771 6,780 Commercial Banking 2,861 2,861 Asset Management 6,922 6,964 Corporate — 101 Total goodwill $ 47,405 $ 47,647 The following table presents changes in the carrying amount of goodwill. Three months ended Nine months ended (in millions) 2015 2014 2015 2014 Balance at beginning of period $ 47,476 $ 48,110 $ 47,647 $ 48,081 Changes during the period from: Business combinations 8 6 25 24 Dispositions — (1 ) (101 ) (b) (1 ) Other (a) (79 ) (145 ) (166 ) (134 ) Balance at September 30, $ 47,405 $ 47,970 $ 47,405 $ 47,970 (a) Includes foreign currency translation adjustments and other tax-related adjustments, and, during the three and nine months ended September 30, 2014 , goodwill impairment associated with the Firm’s Private Equity business of $68 million . (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 September 30, 2015 , or December 31, 2014 , nor was goodwill written off due to impairment during the nine months ended September 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 nine months ended September 30, 2015 and 2014 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2015 2014 2015 2014 Fair value at beginning of period $ 7,571 $ 8,347 $ 7,436 $ 9,614 MSR activity: Originations of MSRs 147 148 447 518 Purchase of MSRs (4 ) 3 435 9 Disposition of MSRs (a) — 11 (375 ) (175 ) Net additions 143 162 507 352 Changes due to collection/realization of expected cash flows (b) (233 ) (216 ) (677 ) (702 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (c) (677 ) (101 ) (338 ) (832 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (76 ) 44 (103 ) 33 Discount rates — — (10 ) (459 ) (g) Prepayment model changes and other (d) (12 ) — (99 ) 230 Total changes in valuation due to other inputs and assumptions (88 ) 44 (212 ) (196 ) Total changes in valuation due to inputs and assumptions (b) (765 ) (57 ) (550 ) (1,028 ) Fair value at September 30, (e) $ 6,716 $ 8,236 $ 6,716 $ 8,236 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ (765 ) $ (57 ) $ (550 ) $ (1,028 ) Contractual service fees, late fees and other ancillary fees included in income $ 634 $ 701 $ 1,945 $ 2,189 Third-party mortgage loans serviced at September 30, (in billions) $ 706 $ 771 $ 706 $ 771 Net servicer advances at September 30, (in billions) (f) $ 6.6 $ 8.6 $ 6.6 $ 8.6 (a) For the nine months ended September 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 September 30, 2014 and nine months ended September 30, 2015 and 2014 . (b) Included changes related to commercial real estate of $(1) million and $(1) million for the three months ended September 30, 2015 and 2014 , respectively, and $(3) million and $(5) million for the nine months ended September 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 $7 million and $13 million related to commercial real estate at September 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 nine months ended September 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 nine months ended September 30, 2015 and 2014 . Three months ended Nine months ended (in millions) 2015 2014 2015 2014 CCB mortgage fees and related income Net production revenue $ 176 $ 253 $ 646 $ 865 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 648 787 2,104 2,524 Changes in MSR asset fair value due to collection/realization of expected cash flows (232 ) (214 ) (674 ) (696 ) Total operating revenue 416 573 1,430 1,828 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) (677 ) (101 ) (338 ) (831 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (88 ) 44 (212 ) (196 ) Change in derivative fair value and other 642 133 429 1,040 Total risk management (123 ) 76 (121 ) 13 Total net mortgage servicing revenue 293 649 1,309 1,841 Total CCB mortgage fees and related income 469 902 1,955 2,706 All other — 1 2 2 Mortgage fees and related income $ 469 $ 903 $ 1,957 $ 2,708 (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 September 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) Sep 30, Dec 31, Weighted-average prepayment speed assumption (“CPR”) 10.19 % 9.80 % Impact on fair value of 10% adverse change $ (297 ) $ (337 ) Impact on fair value of 20% adverse change (571 ) (652 ) Weighted-average option adjusted spread 9.09 % 9.43 % Impact on fair value of 100 basis points adverse change $ (265 ) $ (300 ) Impact on fair value of 200 basis points adverse change (510 ) (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 | 9 Months Ended |
Sep. 30, 2015 | |
Deposits [Abstract] | |
Deposits | Deposits For further discussion on deposits, see Note 19 of JPMorgan Chase’s 2014 Annual Report. At September 30, 2015, and December 31, 2014, noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, 2015 December 31, 2014 U.S. offices Noninterest-bearing $ 404,984 $ 437,558 Interest-bearing: Demand (a) 77,092 90,319 Savings (b) 469,990 466,730 Time (included $9,497 and $7,501 at fair value) (c) 76,932 86,301 Total interest-bearing deposits 624,014 643,350 Total deposits in U.S. offices 1,028,998 1,080,908 Non-U.S. offices Noninterest-bearing 20,174 19,078 Interest-bearing: Demand 171,290 217,011 Savings 1,742 2,673 Time (included $1,565 and $1,306 at fair value) (c) 50,902 43,757 Total interest-bearing deposits 223,934 263,441 Total deposits in non-U.S. offices 244,108 282,519 Total deposits $ 1,273,106 $ 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 | 9 Months Ended |
Sep. 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 nine months ended September 30, 2015 and 2014 . (in millions, except per share amounts) Three months ended Nine months ended 2015 2014 2015 2014 Basic earnings per share Net income $ 6,804 $ 5,565 $ 19,008 $ 16,814 Less: Preferred stock dividends 393 304 1,097 799 Net income applicable to common equity 6,411 5,261 17,911 16,015 Less: Dividends and undistributed earnings allocated to participating securities 141 133 413 427 Net income applicable to common stockholders $ 6,270 $ 5,128 $ 17,498 $ 15,588 Total weighted-average basic shares outstanding 3,694.4 3,755.4 3,709.2 3,774.4 Net income per share $ 1.70 $ 1.37 $ 4.72 $ 4.13 Diluted earnings per share Net income applicable to common stockholders $ 6,270 $ 5,128 $ 17,498 $ 15,588 Total weighted-average basic shares outstanding 3,694.4 3,755.4 3,709.2 3,774.4 Add: Employee stock options, SARs and warrants (a) 31.2 33.3 33.0 33.9 Total weighted-average diluted shares outstanding (b) 3,725.6 3,788.7 3,742.2 3,808.3 Net income per share $ 1.68 $ 1.35 $ 4.68 $ 4.09 (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 nine months ended September 30, 2015 ; and 1 million for each of the three and nine months ended September 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) | 9 Months Ended |
Sep. 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 July 1, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 Net change (291 ) (5 ) (106 ) 51 (351 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) $ 751 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 July 1, 2014 $ 4,867 $ (126 ) $ (12 ) $ (1,291 ) $ 3,438 Net change (141 ) 3 (58 ) 24 (172 ) Balance at September 30, 2014 $ 4,726 $ (123 ) $ (70 ) $ (1,267 ) $ 3,266 As of or for the nine 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 (1,621 ) (12 ) 51 144 (1,438 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) $ 751 As of or for the nine 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 1,928 13 69 57 2,067 Balance at September 30, 2014 $ 4,726 $ (123 ) $ (70 ) $ (1,267 ) $ 3,266 (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 September 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 $ (430 ) $ 160 $ (270 ) $ (283 ) $ 146 $ (137 ) Reclassification adjustment for realized (gains)/losses included in net income (a) (33 ) 12 (21 ) (6 ) 2 (4 ) Net change (463 ) 172 (291 ) (289 ) 148 (141 ) Translation adjustments: Translation (b) (912 ) 340 (572 ) (1,133 ) 416 (717 ) Hedges (b) 908 (341 ) 567 1,185 (465 ) 720 Net change (4 ) (1 ) (5 ) 52 (49 ) 3 Cash flow hedges: Net unrealized gains/(losses) arising during the period (175 ) 66 (109 ) (66 ) 27 (39 ) Reclassification adjustment for realized (gains)/losses included in net income (c) 5 (2 ) 3 (31 ) 12 (19 ) Net change (170 ) 64 (106 ) (97 ) 39 (58 ) Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — (1 ) — (1 ) Reclassification adjustments included in net income (d) : Amortization of net loss 71 (27 ) 44 18 (8 ) 10 Prior service costs/(credits) (9 ) 3 (6 ) (10 ) 4 (6 ) Foreign exchange and other 20 (7 ) 13 34 (13 ) 21 Net change 82 (31 ) 51 41 (17 ) 24 Total other comprehensive income/(loss) $ (555 ) $ 204 $ (351 ) $ (293 ) $ 121 $ (172 ) 2015 2014 Nine months ended September 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 $ (2,548 ) $ 1,008 $ (1,540 ) $ 3,116 $ (1,158 ) $ 1,958 Reclassification adjustment for realized (gains)/losses included in (a) (129 ) 48 (81 ) (48 ) 18 (30 ) Net change (2,677 ) 1,056 (1,621 ) 3,068 (1,140 ) 1,928 Translation adjustments: Translation (b) (1,645 ) 601 (1,044 ) (761 ) 274 (487 ) Hedges (b) 1,651 (619 ) 1,032 823 (323 ) 500 Net change 6 (18 ) (12 ) 62 (49 ) 13 Cash flow hedges: Net unrealized gains/(losses) arising during the period (104 ) 38 (66 ) 149 (60 ) 89 Reclassification adjustment for realized (gains)/losses included in (c)(e) 187 (70 ) 117 (33 ) 13 (20 ) Net change 83 (32 ) 51 116 (47 ) 69 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 101 (39 ) 62 87 (34 ) 53 Reclassification adjustments included in net income (d) : Amortization of net loss 212 (80 ) 132 55 (23 ) 32 Prior service costs/(credits) (27 ) 10 (17 ) (32 ) 13 (19 ) Foreign exchange and other 20 (53 ) (33 ) 15 (24 ) (9 ) Net change 306 (162 ) 144 125 (68 ) 57 Total other comprehensive income/(loss) $ (2,282 ) $ 844 $ (1,438 ) $ 3,371 $ (1,304 ) $ 2,067 (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 | 9 Months Ended |
Sep. 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. Under the Basel Committee's most recent capital framework (“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: 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 predominantly consists 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. Beginning July 21, 2015, the Volcker Rule provisions regarding the prohibitions against proprietary trading and holding ownership interests in or sponsoring “covered funds” became effective. The deduction from Basel III Tier 1 capital associated with the permissible holdings of covered funds acquired after December 31, 2013 was not material as of September 30, 2015 . 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) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 173,577 $ 164,426 $ 173,577 $ 164,426 Tier 1 capital (a) 199,222 186,294 199,222 186,294 Total capital 234,462 221,225 223,962 210,684 Assets Risk-weighted 1,503,370 (f) 1,472,602 1,502,685 1,608,240 Adjusted average (b) 2,375,809 2,465,414 2,375,809 2,465,414 Capital ratios (c) CET1 11.5 % 11.2 % 11.6 % 10.2 % Tier 1 (a) 13.3 12.7 13.3 11.6 Total 15.6 15.0 14.9 13.1 Tier 1 leverage (d) 8.4 7.6 8.4 7.6 JPMorgan Chase Bank, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 166,636 $ 156,567 $ 166,636 $ 156,567 Tier 1 capital (a) 166,900 156,891 166,900 156,891 Total capital 181,404 173,328 174,626 166,331 Assets Risk-weighted 1,287,699 (f) 1,230,358 1,260,657 1,330,175 Adjusted (b) 1,920,310 1,968,131 1,920,310 1,968,131 Capital ratios (c) CET1 12.9 % 12.7 % 13.2 % 11.8 % Tier 1 (a) 13.0 12.8 13.2 11.8 Total 14.1 14.1 13.9 12.5 Tier 1 leverage (d) 8.7 8.0 8.7 8.0 Chase Bank USA, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 15,256 $ 14,556 $ 15,256 $ 14,556 Tier 1 capital (a) 15,256 14,556 15,256 14,556 Total capital 21,201 20,517 19,906 19,206 Assets Risk-weighted 101,533 (f) 103,468 149,813 157,565 Adjusted (b) 133,525 128,111 133,525 128,111 Capital ratios (c) CET1 15.0 % 14.1 % 10.2 % 9.2 % Tier 1 (a) 15.0 14.1 10.2 9.2 Total 20.9 19.8 13.3 12.2 Tier 1 leverage (d) 11.4 11.4 11.4 11.4 (a) At September 30, 2015 , trust preferred securities included in Basel III Tier 1 capital were $999 million and $420 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At September 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 and 2.5 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 $111 million and $130 million at September 30, 2015 , and December 31, 2014 , respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $3.0 billion and $2.7 billion at September 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 September 30, 2015 . Minimum capital ratios (a) Well-capitalized ratios (b) Capital ratios CET1 4.5 % 6.5 % Tier 1 6.0 8.0 Total 8.0 10.0 (c) Tier 1 leverage 4.0 5.0 (a) As defined by the regulations issued by the Federal Reserve, OCC and FDIC and to which the Firm and its national bank subsidiaries are subject. (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. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. As of September 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 | 9 Months Ended |
Sep. 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 wholesale and certain consumer lending-related 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 September 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) September 30, 2015 Dec 31, Sep 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 $ 1,632 $ 4,082 $ 835 $ 4,312 $ 10,861 $ 11,807 $ — $ — Home equity – junior lien 2,604 4,782 793 4,208 12,387 14,859 — — Prime mortgage (a) 13,959 — — — 13,959 8,579 — — Auto 8,380 1,416 165 25 9,986 10,462 2 2 Business banking 10,998 781 90 489 12,358 11,894 12 11 Student and other 8 4 — 442 454 552 — — Total consumer, excluding credit card 37,581 11,065 1,883 9,476 60,005 58,153 14 13 Credit card 526,433 — — — 526,433 525,963 — — Total consumer (b) 564,014 11,065 1,883 9,476 586,438 584,116 14 13 Wholesale: Other unfunded commitments to extend credit (c)(d) 70,201 77,449 110,713 6,710 265,073 272,676 386 374 Standby letters of credit and other financial guarantees (c)(d)(e) 23,666 26,670 33,421 1,511 85,268 89,874 774 788 Other letters of credit (c) 3,362 586 59 — 4,007 4,331 1 1 Total wholesale (f)(g) 97,229 104,705 144,193 8,221 354,348 366,881 1,161 1,163 Total lending-related $ 661,243 $ 115,770 $ 146,076 $ 17,697 $ 940,786 $ 950,997 $ 1,175 $ 1,176 Other guarantees and commitments Securities lending indemnification agreements and guarantees (h) $ 184,227 $ — $ — $ — $ 184,227 $ 171,059 $ — $ — Derivatives qualifying as guarantees 1,421 441 11,337 38,990 52,189 53,589 258 80 Unsettled reverse repurchase and securities borrowing agreements 56,525 — — — 56,525 40,993 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 184 275 Loans sold with recourse NA NA NA NA 4,685 6,063 89 102 Other guarantees and commitments (i) 1,429 1,556 2,206 1,619 6,810 5,720 (101 ) (121 ) (a) Includes certain commitments to purchase loans from correspondents. (b) Predominantly all consumer lending-related commitments are in the U.S. (c) At September 30, 2015 , and December 31, 2014 , reflects the contractual amount net of risk participations totaling $321 million and $243 million , respectively, for other unfunded commitments to extend credit; $11.7 billion and $13.0 billion , respectively, for standby letters of credit and other financial guarantees; and $409 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. (d) At September 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 $13.0 billion and $14.8 billion , respectively, within other unfunded commitments to extend credit; and $10.0 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 September 30, 2015 , and December 31, 2014 , included commitments that could be utilized for standby letters of credit commitments of $45.1 billion and $45.6 billion , respectively. (f) At September 30, 2015 , and December 31, 2014 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 77% 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 September 30, 2015 , and December 31, 2014 , collateral held by the Firm in support of securities lending indemnification agreements was $190.3 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 September 30, 2015 , and December 31, 2014 , included unfunded commitments of $57 million and $147 million , respectively, to third-party private equity funds; and $1.4 billion and $961 million , at September 30, 2015 , and December 31, 2014 , respectively, to other equity investments. These commitments included $53 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 September 30, 2015 , and December 31, 2014 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.6 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 $30.3 billion and $23.4 billion at September 30, 2015 , and December 31, 2014 , respectively. 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 September 30, 2015 , and December 31, 2014 , the secured clearance advance facility maximum outstanding commitment amount was $10.9 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 September 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 $775 million and $789 million at September 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 $335 million and $235 million , respectively, for the allowance for lending-related commitments, and $440 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 September 30, 2015 , and December 31, 2014 . Standby letters of credit, other financial guarantees and other letters of credit September 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) $ 60,841 $ 3,362 $ 66,856 $ 3,476 Noninvestment-grade (a) 24,427 645 23,018 855 Total contractual amount $ 85,268 $ 4,007 $ 89,874 $ 4,331 Allowance for lending-related commitments $ 334 $ 1 $ 234 $ 1 Commitments with collateral 36,148 1,126 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 $52.2 billion and $53.6 billion at September 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 $28.2 billion and $27.5 billion at September 30, 2015 , and December 31, 2014 , respectively, and the maximum exposure to loss was $3.0 billion and $2.9 billion at September 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 $279 million and $102 million and derivative receivables of $21 million and $22 million at September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Repurchase liability at beginning of period $ 231 $ 436 $ 275 $ 681 Net realized gains/(losses) (a) 1 17 18 36 (Benefit)/provision for repurchase (b) (48 ) (62 ) (109 ) (326 ) Repurchase liability at end of period $ 184 $ 391 $ 184 $ 391 (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 $5 million for the three months ended September 30, 2015 and 2014 , respectively, and $6 million and $8 million for the nine months ended September 30, 2015 and 2014 , respectively. (b) Included a provision related to new loan sales of $1 million for each of the three months ended September 30, 2015 and 2014 , and $3 million for each of the nine months ended September 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 September 30, 2015 , and December 31, 2014 , the unpaid principal balance of loans sold with recourse totaled $4.7 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 $89 million and $102 million at September 30, 2015 , and December 31, 2014 , respectively. |
Pledged assets and collateral
Pledged assets and collateral | 9 Months Ended |
Sep. 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 September 30, 2015 , and December 31, 2014 , the Firm had pledged assets of $364.7 billion and $324.5 billion , respectively, at Federal Reserve Banks and Federal Home Loan Banks (“FHLBs”). In addition, as of September 30, 2015 , and December 31, 2014 , the Firm had pledged $51.8 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 September 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 $781.8 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, $636.7 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 | 9 Months Ended |
Sep. 30, 2015 | |
Litigation [Abstract] | |
Litigation | Litigation Contingencies As of September 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 $5.0 billion at September 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 matters, 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 U.S. Department of Justice (“DOJ”) is investigating potential statistical disparities in markups charged to borrowers of 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 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, and plaintiffs in four of those actions have appealed the dismissals. One appeal initially was affirmed, but that opinion was subsequently withdrawn and the appeal remains pending. Credit Default Swaps Investigations and Litigation. In July 2013, the European Commission (the “EC”) filed a Statement of Objections against the Firm (including various subsidiaries) and other industry members in connection with its ongoing investigation into the credit default swaps (“CDS”) marketplace. The EC asserts that between 2006 and 2009, a number of investment banks acted collectively through the International Swaps and Derivatives Association (“ISDA”) and Markit Group Limited (“Markit”) to foreclose exchanges from the potential market for exchange-traded credit derivatives. 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 defendants have entered separate agreements to settle 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 in this action had alleged 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. These settlements are subject to Court approval. 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 entered into a settlement agreement in the U.S. class action. Following this settlement, a number of additional class actions were filed seeking damages for persons who transacted FX futures and options on futures (the “exchanged-based actions”), consumers who purchased foreign currencies at allegedly inflated rates, and participants or beneficiaries of qualified ERISA plans. In July 2015, the plaintiffs in the U.S. class action filed an amended complaint, adding new claims as well as new parties. The Court also consolidated the exchange-based actions into the U.S. class action. The Firm has entered into a revised settlement agreement to resolve the consolidated U.S. class action, and that agreement is subject to Court approval. In September 2015, two class actions were filed in Canada against the Firm as well as a number of other FX dealers, principally for alleged violations of the Canadian Competition Act based on an alleged conspiracy to fix the prices of currency purchased in the FX market. The first action was filed in the province of Ontario, and seeks to represent all persons in Canada who transacted any FX instrument. The second action seeks to represent only those persons in Quebec who engaged in FX transactions. 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. 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. In October 2015, the lenders who brought these class actions voluntarily dismissed them without prejudice. 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 appealed, and oral argument was held in September 2015. Certain merchants and trade associations have also filed a motion with the District Court seeking to set aside the approval of the class settlement on the basis of alleged improper communications between one of MasterCard’s former outside counsel and one of plaintiffs’ outside counsel. That motion remains pending. 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 those 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 (after deducting $700 million of returned 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. In September 2015, the District Court, to which the case had been transferred from the Bankruptcy Court, granted summary judgment in favor of JPMorgan Chase Bank, N.A. on most of the remaining claims in the action, including the claims for duress and fraud. The District Court denied the plaintiffs’ motion for summary judgment on certain of their claims and for dismissal of the Firm’s counterclaims. The remaining claims challenge the propriety of the Firm’s post-petition payment, from collateral posted by LBHI, of approximately $1.9 billion of derivatives, repo and securities lending claims. 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. Defendants also moved to dismiss certain individual actions in the Multi-District Litigation. In August 2015, the Court granted in part and denied in part defendants’ motions, dismissing various claims, but allowing certain Commodity Exchange Act and common law claims to proceed. Motions to dismiss are pending in 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. Discovery is proceeding in this action. The Firm is also named as one of the defendants in a second putative class action filed on behalf of plaintiffs who transacted in financial instruments allegedly affected by Yen LIBOR or Euroyen TIBOR. 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. Plaintiff filed an amended complaint in August 2015, which defendants have moved to dismiss. 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. Defendants have filed a motion to dismiss this action. 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. Plaintiffs subsequently served a motion in the Court of Appeals seeking to have the Court reconsider its prior decision in light of another recent appellate decision. That motion remains pending. 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’ appeal of that decision is pending. 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, and that decision was subsequently affirmed. The Florida court granted the Firm’s motion to dismiss the case in September 2015 and plaintiffs subsequently filed a notice of appeal. The Firm moved to dismiss the case pending in New York. 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. All three actions have been dismissed and two are on appeal. 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 $13.2 billion , of which $11.5 billion involves JPMC, Bear Stearns or Washington Mutual as issuer and $1.7 billion involves JPMC, Bear Stearns or Washington Mutual solely as underwriter. The Firm and certain of its current and former officers and Board members have also been sued in shareholder derivative actions relating to the Firm’s MBS activities, and trustees have asserted or have threatened to assert claims that loans in securitization trusts should be repurchased. Issuer Litigation – Class Actions . JPMC has reached agreements to settle all pending putative class actions on behalf of purchasers of MBS, although certain of these settlements are subject to court approval. 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, plaintiffs filed a notice of appeal to contest the District Court’s reduction in the requested award of attorneys’ fees. 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. In October 2015, JPMC reached agreements to resolve repurchase and servicing claims of four trusts among the 16 that were previously excluded from the settlement. These agreements are subject to a judicial approval proceeding. Additional actions have been filed against third-party trustees that relate to loan repurchase and servicing claims involving trusts sponsored by JPMC, Bear Stearns and Washington Mutual. 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 DOJ’s Criminal Division and two United States Attorney’s Offices 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 United States 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. 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 appealed. 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 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 Fair Housing Act and ECOA and seeking statutory damages for the unfair competition claim, and, for the Fair Housing Act and ECOA claims, damages in the form of lost tax revenue and increased municipal costs associated with foreclosed properties. One of the municipal actions and the school district action we |
Business segments
Business segments | 9 Months Ended |
Sep. 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 17 , 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 nine months ended September 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 September 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 $ 3,729 $ 4,214 $ 5,748 $ 6,129 $ 522 $ 571 $ 2,261 $ 2,422 Net interest income 7,150 7,153 2,420 2,976 1,122 1,132 633 624 Total net revenue 10,879 11,367 8,168 9,105 1,644 1,703 2,894 3,046 Provision for credit losses 389 902 232 (67 ) 82 (79 ) (17 ) 9 Noninterest expense 6,237 6,305 6,131 6,035 719 668 2,109 2,081 Income before income tax expense 4,253 4,160 1,805 3,137 843 1,114 802 956 Income tax expense 1,623 1,631 341 1,457 325 443 327 366 Net income $ 2,630 $ 2,529 $ 1,464 $ 1,680 $ 518 $ 671 $ 475 $ 590 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 484,253 448,033 801,133 873,971 201,157 191,563 131,412 130,296 Return on common equity 20% 19% 8% 10% 14% 18% 20% 25% Overhead ratio 57 55 75 66 44 39 73 68 As of or for the three months ended September 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 73 $ 450 $ (477 ) $ (424 ) $ 11,856 $ 13,362 Net interest income (123 ) (525 ) (278 ) $ (253 ) 10,924 11,107 Total net revenue (50 ) (75 ) (755 ) $ (677 ) 22,780 24,469 Provision for credit losses (4 ) (8 ) — — 682 757 Noninterest expense 172 709 — — 15,368 15,798 Income/(loss) before income tax expense/(benefit) (218 ) (776 ) (755 ) (677 ) 6,730 7,914 Income tax expense/(benefit) (1,935 ) (871 ) (755 ) (677 ) (74 ) 2,349 Net income $ 1,717 $ 95 $ — $ — $ 6,804 $ 5,565 Average common equity $ 81,023 $ 74,621 $ — $ — $ 217,023 $ 209,621 Total assets 799,166 882,792 NA NA 2,417,121 2,526,655 Return on common equity NM NM NM NM 12 % 10 % Overhead ratio NM NM NM NM 67 65 Segment results and reconciliation (a) As of or for the nine months ended September 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 $ 11,554 $ 12,116 $ 19,055 $ 18,874 $ 1,767 $ 1,706 $ 7,189 $ 7,020 Net interest income 21,044 21,303 7,418 8,338 3,358 3,406 1,885 1,808 Total net revenue 32,598 33,419 26,473 27,212 5,125 5,112 9,074 8,828 Provision for credit losses 2,021 2,570 251 (102 ) 325 (141 ) (13 ) 1 Noninterest expense 18,637 19,198 16,925 17,697 2,131 2,029 6,690 6,218 Income/(loss) before income tax expense/(benefit) 11,940 11,651 9,297 9,617 2,669 3,224 2,397 2,609 Income tax expense/(benefit) 4,558 4,645 2,955 3,681 1,028 1,282 969 996 Net income $ 7,382 $ 7,006 $ 6,342 $ 5,936 $ 1,641 $ 1,942 $ 1,428 $ 1,613 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 484,253 448,033 801,133 873,971 201,157 191,563 131,412 130,296 Return on common equity 18% 18 % 13% 12 % 15% 18 % 20% 23 % Overhead ratio 57 57 64 65 42 40 74 70 As of or for the nine months ended September 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 213 $ 1,325 $ (1,405 ) $ (1,251 ) $ 38,373 $ 39,790 Net interest income (597 ) (1,560 ) (823 ) (723 ) 32,285 32,572 Total net revenue (384 ) (235 ) (2,228 ) (1,974 ) 70,658 72,362 Provision for credit losses (8 ) (29 ) — — 2,576 2,299 Noninterest expense 368 723 — — 44,751 45,865 Income/(loss) before income tax expense/(benefit) (744 ) (929 ) (2,228 ) (1,974 ) 23,331 24,198 Income tax expense/(benefit) (2,959 ) (1,246 ) (2,228 ) (1,974 ) 4,323 7,384 Net income $ 2,215 $ 317 $ — $ — $ 19,008 $ 16,814 Average common equity $ 78,389 $ 70,888 $ — $ — $ 214,389 $ 205,888 Total assets 799,166 882,792 NA NA 2,417,121 2,526,655 Return on common equity NM NM NM NM 11% 10 % Overhead ratio NM NM NM NM 63 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) | 9 Months Ended |
Sep. 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 $223 million and $230 million in other income and income tax expense, respectively, for the three months ended September 30, 2014, and $669 million and $686 million , respectively, for the nine months ended September 30, 2014, which led to an increase of approximately 2% in the effective tax rate for both the three and nine months ended September 30, 2014. The impact on net income and earnings per share in the periods affected was not material. The Firm recognized $398 million and $394 million of tax credits and other tax benefits associated with these investments within Income tax expense for the three months ended September 30, 2015 and 2014, respectively, and $1.2 billion for both the nine months ended September 30, 2015 and 2014. The amount of amortization of such investments reported in income tax expense under the current period presentation was $274 million and $268 million , for the three months ended September 30, 2015 and 2014, respectively, and $829 million and $799 million for the nine months ended September 30, 2015 and 2014, respectively. The carrying value of investments in affordable housing projects was $7.3 billion at both September 30, 2015 and December 31, 2014. These investments are reported in other assets on the Firm’s Consolidated balance sheets. The amount of commitments related to these investments was $1.9 billion and $1.8 billion at September 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. For further information on offsetting assets and liabilities, see Note 1 of JPMorgan Chase ’s 2014 Annual Report. |
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 September 30, 2015 was not material. |
Securities policy | Securities are classified as trading, AFS or held-to-maturity (“HTM”). Securities classified as trading assets are discussed in Note 3. |
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. As of September 30, 2015, and December 31, 2014, the Firm had recorded on its Consolidated balance sheets $11.3 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 $327 million and $464 million as of September 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. |
Fair value measurement (Tables)
Fair value measurement (Tables) | 9 Months Ended |
Sep. 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 September 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 September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 27,433 $ — $ — $ 27,433 Securities borrowed — 405 — — 405 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 35,038 786 — 35,829 Residential – nonagency — 1,505 119 — 1,624 Commercial – nonagency — 1,047 29 — 1,076 Total mortgage-backed securities 5 37,590 934 — 38,529 U.S. Treasury and government agencies (a) 22,451 7,308 — — 29,759 Obligations of U.S. states and municipalities — 6,543 572 — 7,115 Certificates of deposit, bankers’ acceptances and commercial paper — 525 — — 525 Non-U.S. government debt securities 28,349 28,394 86 — 56,829 Corporate debt securities — 25,411 837 — 26,248 Loans (b) — 25,809 8,014 — 33,823 Asset-backed securities — 2,549 1,806 — 4,355 Total debt instruments 50,805 134,129 12,249 — 197,183 Equity securities 79,946 390 335 — 80,671 Physical commodities (c) 2,845 1,140 — — 3,985 Other — 10,625 495 — 11,120 Total debt and equity instruments (d) 133,596 146,284 13,079 — 292,959 Derivative receivables: Interest rate 657 735,468 2,826 (709,835 ) 29,116 Credit — 51,967 2,442 (52,685 ) 1,724 Foreign exchange 777 183,986 1,786 (165,433 ) 21,116 Equity — 45,246 1,481 (39,237 ) 7,490 Commodity 218 27,899 343 (19,238 ) 9,222 Total derivative receivables (e) 1,652 1,044,566 8,878 (986,428 ) 68,668 Total trading assets 135,248 1,190,850 21,957 (986,428 ) 361,627 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 54,578 — — 54,578 Residential – nonagency — 36,600 5 — 36,605 Commercial – nonagency — 22,893 — — 22,893 Total mortgage-backed securities — 114,071 5 — 114,076 U.S. Treasury and government agencies (a) 11,305 42 — — 11,347 Obligations of U.S. states and municipalities — 32,709 — — 32,709 Certificates of deposit — 418 — — 418 Non-U.S. government debt securities 23,628 15,492 — — 39,120 Corporate debt securities — 14,781 — — 14,781 Asset-backed securities: Collateralized loan obligations — 30,549 755 — 31,304 Other — 10,056 75 — 10,131 Equity securities 2,605 — — — 2,605 Total available-for-sale securities 37,538 218,118 835 — 256,491 Loans — 260 2,875 — 3,135 Mortgage servicing rights (“MSRs”) — — 6,716 — 6,716 Other assets: Private equity investments (f) 148 64 1,700 — 1,912 All other 3,616 29 819 — 4,464 Total other assets 3,764 93 2,519 — 6,376 Total assets measured at fair value on a recurring basis $ 176,550 $ 1,437,159 $ 34,902 $ (986,428 ) $ 662,183 Deposits $ — $ 7,685 $ 3,377 $ — $ 11,062 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,565 — — 3,565 Other borrowed funds — 8,897 768 — 9,665 Trading liabilities: Debt and equity instruments (d) 64,715 19,552 67 — 84,334 Derivative payables: Interest rate 629 699,215 1,995 (691,114 ) 10,725 Credit — 51,181 1,930 (51,465 ) 1,646 Foreign exchange 876 199,256 2,321 (180,409 ) 22,044 Equity — 44,544 3,005 (38,543 ) 9,006 Commodity 132 30,865 1,563 (18,841 ) 13,719 Total derivative payables (e) 1,637 1,025,061 10,814 (980,372 ) 57,140 Total trading liabilities 66,352 1,044,613 10,881 (980,372 ) 141,474 Accounts payable and other liabilities 5,829 — 21 — 5,850 Beneficial interests issued by consolidated variable interest entities ("VIEs") — 181 1,018 — 1,199 Long-term debt — 20,304 10,856 — 31,160 Total liabilities measured at fair value on a recurring basis $ 72,181 $ 1,085,245 $ 26,921 $ (980,372 ) $ 203,975 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 (g) 4,129 — 26 — 4,155 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 $ 68,429 $ 1,355,052 $ 32,059 $ (1,239,657 ) $ 215,883 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 September 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 $1.4 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 September 30, 2015, and December 31, 2014, were trading assets of $81 million and $124 million , respectively, and other assets of $1.3 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 September 30, 2015 , and December 31, 2014, included total U.S. government-sponsored enterprise obligations of $67.5 billion and $84.1 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2015 , and December 31, 2014, included within trading loans were $13.1 billion and $17.0 billion , respectively, of residential first-lien mortgages, and $5.2 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 $2.7 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 $1.8 billion and $2.5 billion at September 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 $3.6 billion and $6.0 billion at September 30, 2015 , and December 31, 2014, respectively. (g) Certain prior period amounts (including the corresponding fair value parenthetical disclosure for accounts payable and other liabilities on the Consolidated balance sheets) were revised to conform with the current period presentation. |
Fair value inputs, assets and liabilities, quantitative information | Level 3 inputs (a) September 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 $ 5,653 Discounted cash flows Yield 4 % – 26% 6 % Prepayment speed 0 % – 20% 7 % Conditional default rate 0 % – 11% 2 % Loss severity 0 % – 100% 37 % Commercial mortgage-backed securities and loans (b) 3,970 Discounted cash flows Yield 0 % – 25% 3 % Conditional default rate 0 % – 91% 21 % Loss severity 0 % 40% 29 % Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 3,556 Discounted cash flows Credit spread 60 bps – 270 bps 254bps Yield 1 % – 22% 5 % 3,513 Market comparables Price $ — – $139 $ 94 Net interest rate derivatives 831 Option pricing Interest rate correlation (49 )% – 99% Interest rate spread volatility 4 % – 30% Net credit derivatives (b)(c) 512 Discounted cash flows Credit correlation 35 % – 90% Net foreign exchange derivatives (535 ) Option pricing Foreign exchange correlation 0 % – 60% Net equity derivatives (1,524 ) Option pricing Equity volatility 20 % – 65% Net commodity derivatives (1,220 ) Discounted cash flows Forward commodity price $ 33 – $54 per barrel Collateralized loan obligations 755 Discounted cash flows Credit spread 350 bps – 525 bps 390 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 40 % 40 % 160 Market comparables Price $ — – $100 $ 76 Mortgage servicing rights (“MSRs”) 6,716 Discounted cash flows Refer to Note 16 Private equity investments 1,700 Market comparables EBITDA multiple 6.4x – 9.9x 8.7x Liquidity adjustment 0 % – 15% 6 % Long-term debt, other borrowed funds, and deposits (d) 14,495 Option pricing Interest rate correlation (49 )% – 99% Interest rate spread volatility 4 % – 30% Foreign exchange correlation 0 % – 60% Equity correlation (50 )% – 80% 506 Discounted cash flows Credit correlation 35 % – 90% Beneficial interests issued by consolidated VIEs (e) 1,018 Discounted Cash Flows Yield 4 % – 28% 4 % Prepayment Speed 1 % – 12% 8 % Conditional default rate 2 % – 15% 2 % Loss severity 40 % – 100% 48 % (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 $394 million of credit derivative receivables and $355 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 $491 million of credit derivative receivables and $453 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. (e) The parameters are related to residential mortgage-backed securities. |
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 nine months ended September 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 September 30, 2015 (in millions) Fair value at July 1, 2015 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (h) Fair value at September 30, 2015 Change in unrealized gains/(losses) related to financial instruments held at September 30, 2015 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 901 $ (81 ) $ 68 $ (21 ) $ (28 ) $ (53 ) $ 786 $ (79 ) Residential – nonagency 123 64 25 (95 ) (9 ) 11 119 8 Commercial – nonagency 138 (3 ) 5 (15 ) (8 ) (88 ) 29 (4 ) Total mortgage-backed securities 1,162 (20 ) 98 (131 ) (45 ) (130 ) 934 (75 ) Obligations of U.S. states and municipalities 1,247 (7 ) 90 (23 ) — (735 ) 572 (8 ) Non-U.S. government debt securities 208 11 18 (7 ) (1 ) (143 ) 86 18 Corporate debt securities 943 (21 ) 123 (100 ) (84 ) (24 ) 837 (6 ) Loans 9,563 (73 ) 945 (672 ) (1,494 ) (255 ) 8,014 (104 ) Asset-backed securities 1,539 (15 ) 485 (207 ) (10 ) 14 1,806 (14 ) Total debt instruments 14,662 (125 ) 1,759 (1,140 ) (1,634 ) (1,273 ) 12,249 (189 ) Equity securities 310 9 26 (15 ) (2 ) 7 335 9 Other 969 (23 ) 460 (263 ) (89 ) (559 ) 495 (15 ) Total trading assets – debt and equity instruments 15,941 (139 ) (c) 2,245 (1,418 ) (1,725 ) (1,825 ) 13,079 (195 ) (c) Net derivative receivables: (a) Interest rate 859 244 9 (6 ) (147 ) (128 ) 831 77 Credit 432 7 6 (1 ) 48 20 512 13 Foreign exchange 405 (254 ) 1 (135 ) (154 ) (398 ) (535 ) (222 ) Equity (1,848 ) 348 196 (187 ) 172 (205 ) (1,524 ) 277 Commodity (594 ) (553 ) — (2 ) (100 ) 29 (1,220 ) (231 ) Total net derivative receivables (746 ) (208 ) (c) 212 (331 ) (181 ) (682 ) (1,936 ) (86 ) (c) Available-for-sale securities: Asset-backed securities 862 (27 ) — — (5 ) — 830 (26 ) Other 13 — — — (8 ) — 5 — Total available-for-sale securities 875 (27 ) (d) — — (13 ) — 835 (26 ) (d) Loans 2,295 9 (c) 869 — (298 ) — 2,875 9 (c) Mortgage servicing rights 7,571 (765 ) (e) 143 — (233 ) — 6,716 (765 ) (e) Other assets: Private equity investments 1,987 (32 ) (c) 70 (267 ) (58 ) — 1,700 (32 ) (c) All other 839 80 (f) — — (100 ) — 819 82 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at July 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 $ 3,528 $ 42 (c) $ — $ — $ 327 $ (280 ) $ (240 ) $ 3,377 $ 54 (c) Other borrowed funds 1,261 (402 ) (c) — 28 575 (431 ) (263 ) 768 (317 ) (c) Trading liabilities – debt and equity instruments 72 8 (c) (10 ) 2 — (6 ) 1 67 7 (c) Accounts payable and other liabilities 23 — — — — (2 ) — 21 — Beneficial interests issued by consolidated VIEs 1,140 (35 ) (c) (59 ) — — (28 ) — 1,018 (36 ) (c) Long-term debt 12,589 (420 ) (c) (11 ) — 2,057 (1,048 ) (2,311 ) 10,856 (392 ) (c) Fair value measurements using significant unobservable inputs Three months ended September 30, 2014 (in millions) Fair value at July 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 September 30, 2014 Purchases (g) Sales Settlements Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 1,125 $ (18 ) $ 2 $ (12 ) $ (31 ) $ (8 ) $ 1,058 $ (18 ) Residential – nonagency 543 (13 ) 224 (120 ) (5 ) (38 ) 591 (22 ) Commercial – nonagency 327 (2 ) 251 (323 ) (6 ) 16 263 (6 ) Total mortgage-backed securities 1,995 (33 ) 477 (455 ) (42 ) (30 ) 1,912 (46 ) Obligations of U.S. states and municipalities 1,079 158 1 (49 ) — — 1,189 156 Non-U.S. government debt securities 128 7 88 (20 ) (1 ) (67 ) 135 6 Corporate debt securities 4,793 (88 ) 1,280 (776 ) (72 ) (75 ) 5,062 168 Loans 13,521 (179 ) 4,563 (1,476 ) (1,349 ) 251 15,331 (184 ) Asset-backed securities 1,216 (21 ) 564 (477 ) (88 ) 26 1,220 (27 ) Total debt instruments 22,732 (156 ) 6,973 (3,253 ) (1,552 ) 105 24,849 73 Equity securities 691 22 140 (12 ) (42 ) 35 834 19 Physical commodities 3 (1 ) — — — — 2 — Other 2,341 (53 ) 480 (66 ) (17 ) — 2,685 (53 ) Total trading assets – debt and equity instruments 25,767 (188 ) (c) 7,593 (3,331 ) (1,611 ) 140 28,370 39 (c) Net derivative receivables: (a) Interest rate 1,533 (46 ) 31 (61 ) (232 ) (15 ) 1,210 (133 ) Credit 134 89 23 (4 ) 19 (2 ) 259 112 Foreign exchange (1,194 ) 176 43 (3 ) 51 (4 ) (931 ) 194 Equity (2,206 ) (201 ) 699 (791 ) (4 ) 82 (2,421 ) (164 ) Commodity (122 ) 178 — — (80 ) 10 (14 ) 448 Total net derivative receivables (1,855 ) 196 (c) 796 (859 ) (246 ) 71 (1,897 ) 457 (c) Available-for-sale securities: Asset-backed securities 1,322 (25 ) 50 — (39 ) — 1,308 (24 ) Other 514 (18 ) — — (133 ) — 363 (2 ) Total available-for-sale securities 1,836 (43 ) (d) 50 — (172 ) — 1,671 (26 ) (d) Loans 4,227 (240 ) (c) 233 (89 ) (589 ) — 3,542 (241 ) (c) Mortgage servicing rights 8,347 (57 ) (e) 151 11 (216 ) — 8,236 (57 ) (e) Other assets: Private equity investments 4,630 147 (c) 4 (458 ) 18 — 4,341 346 (c) All other 1,199 12 (f) 2 — (38 ) — 1,175 12 (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at July 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 $ 2,838 $ (52 ) (c) $ — $ — $ 452 $ (44 ) $ (359 ) $ 2,835 $ (52 ) (c) Other borrowed funds 1,538 (45 ) (c) — — 1,575 (1,494 ) 418 1,992 (41 ) (c) Trading liabilities – debt and equity instruments 80 (12 ) (c) (36 ) 22 — 9 (9 ) 54 (12 ) (c) Accounts payable and other liabilities 45 — (f) — — — (5 ) — 40 — (f) Beneficial interests issued by consolidated VIEs 1,062 (42 ) (c) — — 653 (24 ) — 1,649 (44 ) (c) Long-term debt 11,746 (382 ) (c) — — 2,175 (1,583 ) 4 11,960 (266 ) (c) Fair value measurements using significant unobservable inputs Nine 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 $ (43 ) $ 250 $ (186 ) $ (102 ) $ (55 ) $ 786 $ (41 ) Residential – nonagency 663 108 202 (558 ) (19 ) (277 ) 119 7 Commercial – nonagency 306 (12 ) 185 (215 ) (22 ) (213 ) 29 (5 ) Total mortgage-backed securities 1,891 53 637 (959 ) (143 ) (545 ) 934 (39 ) Obligations of U.S. states and municipalities 1,273 6 281 (133 ) (27 ) (828 ) 572 (7 ) Non-U.S. government debt securities 302 20 173 (119 ) (43 ) (247 ) 86 16 Corporate debt securities 2,989 (71 ) 944 (909 ) (119 ) (1,997 ) 837 (2 ) Loans 13,287 (64 ) 2,841 (3,821 ) (2,313 ) (1,916 ) 8,014 (254 ) Asset-backed securities 1,264 (31 ) 1,781 (1,099 ) (4 ) (105 ) 1,806 (19 ) Total debt instruments 21,006 (87 ) 6,657 (7,040 ) (2,649 ) (5,638 ) 12,249 (305 ) Equity securities 431 55 76 (138 ) (19 ) (70 ) 335 58 Other 1,052 65 1,571 (1,298 ) (305 ) (590 ) 495 (25 ) Total trading assets – debt and equity instruments 22,489 33 (c) 8,304 (8,476 ) (2,973 ) (6,298 ) 13,079 (272 ) (c) Net derivative receivables: (a) Interest rate 626 737 451 (164 ) (500 ) (319 ) 831 310 Credit 189 101 16 (5 ) 174 37 512 237 Foreign exchange (526 ) 691 14 (146 ) (140 ) (428 ) (535 ) 222 Equity (1,785 ) 673 620 (859 ) (90 ) (83 ) (1,524 ) 414 Commodity (565 ) (464 ) — (2 ) (151 ) (38 ) (1,220 ) (154 ) Total net derivative receivables (2,061 ) 1,738 (c) 1,101 (1,176 ) (707 ) (831 ) (1,936 ) 1,029 (c) Available-for-sale securities: Asset-backed securities 908 (34 ) 49 (43 ) (50 ) — 830 (28 ) Other 129 — — — (25 ) (99 ) 5 — Total available-for-sale securities 1,037 (34 ) (d) 49 (43 ) (75 ) (99 ) 835 (28 ) (d) Loans 2,541 (111 ) (c) 1,286 (83 ) (758 ) — 2,875 (108 ) (c) Mortgage servicing rights 7,436 (550 ) (e) 882 (375 ) (677 ) — 6,716 (550 ) (e) Other assets: Private equity investments 2,225 (i) 15 (c) 77 (294 ) (174 ) (149 ) 1,700 — (c) All other 959 (i) 90 (f) 65 (143 ) (152 ) — 819 66 (f) Fair value measurements using significant unobservable inputs Nine 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 $ (22 ) (c) $ — $ — $ 1,775 $ (425 ) $ (810 ) $ 3,377 $ 49 (c) Other borrowed funds 1,453 (525 ) (c) 45 28 2,897 (2,573 ) (557 ) 768 (424 ) (c) Trading liabilities – debt and equity instruments 72 13 (c) (141 ) 149 — (20 ) (6 ) 67 7 (c) Accounts payable and other liabilities 26 — (c) — — — (5 ) — 21 — (c) Beneficial interests issued by consolidated VIEs 1,146 (52 ) (c) (75 ) — 286 (287 ) — 1,018 (49 ) (c) Long-term debt 11,877 (617 ) (c) (11 ) (12 ) 7,440 (5,193 ) (2,628 ) 10,856 (583 ) (c) Fair value measurements using significant unobservable inputs Nine 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 $ 12 $ 345 $ (186 ) $ (91 ) $ (27 ) $ 1,058 $ 16 Residential – nonagency 726 78 597 (634 ) (29 ) (147 ) 591 5 Commercial – nonagency 432 26 832 (804 ) (54 ) (169 ) 263 (5 ) Total mortgage-backed securities 2,163 116 1,774 (1,624 ) (174 ) (343 ) 1,912 16 Obligations of U.S. states and municipalities 1,382 145 1 (339 ) — — 1,189 14 Non-U.S. government debt securities 143 26 523 (539 ) (3 ) (15 ) 135 9 Corporate debt securities 5,920 280 3,640 (2,791 ) (1,736 ) (251 ) 5,062 458 Loans 13,455 512 9,850 (4,378 ) (4,067 ) (41 ) 15,331 297 Asset-backed securities 1,272 49 1,921 (1,809 ) (259 ) 46 1,220 (19 ) Total debt instruments 24,335 1,128 17,709 (11,480 ) (6,239 ) (604 ) 24,849 775 Equity securities 867 122 225 (87 ) (72 ) (221 ) 834 92 Physical commodities 4 (1 ) — — (1 ) — 2 (1 ) Other 2,000 116 1,190 (244 ) (112 ) (265 ) 2,685 122 Total trading assets – debt and equity instruments 27,206 1,365 (c) 19,124 (11,811 ) (6,424 ) (1,090 ) 28,370 988 (c) Net derivative receivables: (a) Interest rate 2,379 (20 ) 129 (167 ) (997 ) (114 ) 1,210 (643 ) Credit 95 (150 ) 245 (25 ) 146 (52 ) 259 (74 ) Foreign exchange (1,200 ) (166 ) 137 (22 ) 306 14 (931 ) (389 ) Equity (1,063 ) (273 ) 1,557 (2,371 ) 47 (318 ) (2,421 ) 239 Commodity 115 6 1 — (93 ) (43 ) (14 ) (126 ) Total net derivative receivables 326 (603 ) (c) 2,069 (2,585 ) (591 ) (513 ) (1,897 ) (993 ) (c) Available-for-sale securities: Asset-backed securities 1,088 (36 ) 275 (2 ) (80 ) 63 1,308 (36 ) Other 1,234 (20 ) 122 — (201 ) (772 ) 363 (3 ) Total available-for-sale securities 2,322 (56 ) (d) 397 (2 ) (281 ) (709 ) 1,671 (39 ) (d) Loans 1,931 (168 ) (c) 3,313 (231 ) (1,303 ) — 3,542 (208 ) (c) Mortgage servicing rights 9,614 (1,028 ) (e) 527 (175 ) (702 ) — 8,236 (1,028 ) (e) Other assets: Private equity investments 5,817 387 (c) 107 (1,946 ) (290 ) 266 4,341 249 (c) All other 1,382 9 (f) 8 (130 ) (94 ) — 1,175 10 (f) Fair value measurements using significant unobservable inputs Nine 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 September 30, 2014 Purchases Sales Issuances Settlements Liabilities: (b) Deposits $ 2,255 $ 59 (c) $ — $ — $ 1,261 $ (110 ) $ (630 ) $ 2,835 $ 61 (c) Other borrowed funds 2,074 (138 ) (c) — — 4,251 (4,981 ) 786 1,992 51 (c) Trading liabilities – debt and equity instruments 113 (16 ) (c) (298 ) 301 — 1 (47 ) 54 (6 ) (c) Accounts payable and other liabilities 25 27 (f) — — — (12 ) — 40 — (f) Beneficial interests issued by consolidated VIEs 1,240 59 (c) — — 735 (283 ) (102 ) 1,649 45 (c) Long-term debt 10,008 157 (c) — — 5,919 (3,962 ) (162 ) 11,960 231 (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 94 . (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 13% at September 30, 2015 and 15% at 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 hedge accounting adjustments recorded in income on AFS securities were zero and $(30) million for the three months ended September 30, 2015 and 2014 and $(7) million and $(43) million for the nine months ended September 30, 2015 and 2014, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $(27) million and $(12) million for the three months ended September 30, 2015 and 2014 and $(27) million and $(13) million for the nine months ended September 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) Sep 30, 2015 Dec 31, 2014 Derivative receivables balance (a) $ 68,668 $ 78,975 Derivative payables balance (a) 57,140 71,116 Derivatives CVA (b) (2,279 ) (2,674 ) Derivatives DVA and FVA (b)(c) (437 ) (380 ) Structured notes balance (a)(d) 51,887 53,772 Structured notes DVA and FVA (b)(e) 2,355 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 September 30, 2015, and December 31, 2014, included derivatives DVA of $822 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 September 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 September 30, 2015, and December 31, 2014, included structured notes DVA of $1.9 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Credit adjustments: Derivatives CVA $ (127 ) $ (57 ) $ 395 $ 196 Derivatives DVA and FVA (a) (121 ) 144 (58 ) (17 ) Structured notes DVA and FVA (b) 552 161 1,203 340 (a) Included derivatives DVA of $51 million and $68 million for the three months ended September 30, 2015 and 2014, respectively, and $108 million and $(27) million for the nine months ended September 30, 2015 and 2014, respectively. (b) Included structured notes DVA of $169 million and $190 million for the three months ended September 30, 2015 and 2014, respectively, and $492 million and $209 million for the nine months ended September 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 September 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. September 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 $ 21.3 $ 21.3 $ — $ — $ 21.3 $ 27.8 $ 27.8 $ — $ — $ 27.8 Deposits with banks 376.2 372.0 4.2 — 376.2 484.5 480.4 4.1 — 484.5 Accrued interest and accounts receivable 57.9 — 57.7 0.2 57.9 70.1 — 70.0 0.1 70.1 Federal funds sold and securities purchased under resale agreements 191.1 — 191.1 — 191.1 187.2 — 187.2 — 187.2 Securities borrowed 105.3 — 105.3 — 105.3 109.4 — 109.4 — 109.4 Securities, held-to-maturity (a) 50.2 — 51.8 — 51.8 49.3 — 51.2 — 51.2 Loans, net of allowance for loan losses (b) 792.9 — 20.7 776.9 797.6 740.5 — 21.8 723.1 744.9 Other 66.7 0.1 57.7 13.5 71.3 64.7 — 55.7 13.3 69.0 Financial liabilities Deposits $ 1,262.0 $ — $ 1,261.0 $ 1.2 $ 1,262.2 $ 1,354.6 $ — $ 1,353.6 $ 1.2 $ 1,354.8 Federal funds purchased and securities loaned or sold under repurchase agreements 176.7 — 176.7 — 176.7 189.1 — 189.1 — 189.1 Commercial paper 19.7 — 19.7 — 19.7 66.3 — 66.3 — 66.3 Other borrowed funds 17.5 — 17.5 — 17.5 15.5 15.5 — 15.5 Accounts payable and other liabilities (c) 152.2 — 149.5 2.5 152.0 172.6 — 169.6 2.9 172.5 Beneficial interests issued by consolidated VIEs 47.5 — 45.7 1.8 47.5 50.2 — 48.2 2.0 50.2 Long-term debt and junior subordinated deferrable interest debentures (d) 261.7 — 263.8 4.0 267.8 246.6 — 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) Certain prior period amounts have been revised to conform with the current presentation. (d) 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. September 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 $ 0.7 $ — $ — $ 2.6 $ 2.6 $ 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) | 9 Months Ended |
Sep. 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 nine months ended September 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 September 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 $ 63 $ — $ 63 $ (114 ) $ — $ (114 ) Securities borrowed (1 ) — (1 ) (3 ) — (3 ) Trading assets: Debt and equity instruments, excluding loans (144 ) — (144 ) 20 1 (c) 21 Loans reported as trading assets: Changes in instrument-specific credit risk 12 5 (c) 17 140 10 (c) 150 Other changes in fair value 94 277 (c) 371 98 249 (c) 347 Loans: Changes in instrument-specific credit risk 31 — 31 3 — 3 Other changes in fair value 2 — 2 (2 ) — (2 ) Other assets 54 — 54 6 21 (d) 27 Deposits (a) (112 ) — (112 ) 117 — 117 Federal funds purchased and securities loaned or sold under repurchase agreements (14 ) — (14 ) 15 — 15 Other borrowed funds (a) 2,015 — 2,015 (56 ) — (56 ) Trading liabilities (6 ) — (6 ) (2 ) — (2 ) Beneficial interests issued by consolidated VIEs 29 — 29 (54 ) — (54 ) Other liabilities — — — — — — Long-term debt: Changes in instrument-specific credit risk (a) 299 — 299 162 — 162 Other changes in fair value (b) 1,116 — 1,116 170 — 170 Nine months ended September 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 $ 37 $ — $ 37 $ (58 ) $ — $ (58 ) Securities borrowed (5 ) — (5 ) (8 ) — (8 ) Trading assets: Debt and equity instruments, excluding loans 375 1 (c) 376 495 2 (c) 497 Loans reported as trading assets: Changes in instrument-specific credit risk 223 18 (c) 241 894 22 (c) 916 Other changes in fair value 206 657 (c) 863 200 941 (c) 1,141 Loans: Changes in instrument-specific credit risk 32 — 32 31 — 31 Other changes in fair value 2 — 2 29 — 29 Other assets 116 9 (d) 125 18 (121 ) (d) (103 ) Deposits (a) (75 ) — (75 ) (94 ) — (94 ) Federal funds purchased and securities loaned or sold under repurchase agreements (5 ) — (5 ) (19 ) — (19 ) Other borrowed funds (a) 2,121 — 2,121 (1,227 ) — (1,227 ) Trading liabilities (20 ) — (20 ) (11 ) — (11 ) Beneficial interests issued by consolidated VIEs 73 — 73 (191 ) — (191 ) Other liabilities — — — (27 ) — (27 ) Long-term debt: Changes in instrument-specific credit risk (a) 624 — 624 167 — 167 Other changes in fair value (b) 1,466 — 1,466 (621 ) — (621 ) (a) Total changes in instrument-specific credit risk (DVA) related to structured notes were $169 million and $190 million for the three months ended September 30, 2015 and 2014, respectively, and $492 million and $209 million for the nine months ended September 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 September 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. September 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 $ 4,048 $ 1,067 $ (2,981 ) $ 3,847 $ 905 $ (2,942 ) Loans 7 7 — 7 7 — Subtotal 4,055 1,074 (2,981 ) 3,854 912 (2,942 ) All other performing loans Loans reported as trading assets 34,765 32,756 (2,009 ) 37,608 35,462 (2,146 ) Loans 2,988 2,967 (21 ) 2,397 2,389 (8 ) Total loans $ 41,808 $ 36,797 $ (5,011 ) $ 43,859 $ 38,763 $ (5,096 ) Long-term debt Principal-protected debt $ 16,753 (c) $ 15,520 $ (1,233 ) $ 14,660 (c) $ 15,484 $ 824 Nonprincipal-protected debt (b) NA 15,640 NA NA 14,742 NA Total long-term debt NA $ 31,160 NA NA $ 30,226 NA Long-term beneficial interests Nonprincipal-protected debt (b) NA $ 1,199 NA NA $ 2,162 NA Total long-term beneficial interests NA $ 1,199 NA NA $ 2,162 NA (a) There were no performing loans that were ninety days or more past due as of September 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 reflects the contractual principal payment at maturity or, if applicable, the contractual principal payment at the Firm’s next call date. |
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. September 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 $ 11,506 $ 50 $ 3,762 $ 15,318 $ 10,858 $ 460 $ 2,119 $ 13,437 Credit 3,256 95 — 3,351 4,023 450 — 4,473 Foreign exchange 1,853 150 11 2,014 2,150 211 17 2,378 Equity 13,086 8,523 5,074 26,683 12,348 12,412 4,415 29,175 Commodity 833 81 1,955 2,869 710 644 2,012 3,366 Total structured notes $ 30,534 $ 8,899 $ 10,802 $ 50,235 $ 30,089 $ 14,177 $ 8,563 $ 52,829 |
Derivative instruments (Tables)
Derivative instruments (Tables) | 9 Months Ended |
Sep. 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 113 – 114 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 114 – 115 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 113 – 114 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 114 – 115 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. subsidiaries Net investment hedge Corporate 116 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 113 – 114 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 116 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 116 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 116 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 116 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 116 ◦ Various Other derivatives Market-making and other CIB, Corporate 116 |
Notional amount of derivative contracts | The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2015 , and December 31, 2014 . Notional amounts (b) (in billions) September 30, 2015 December 31, 2014 Interest rate contracts Swaps $ 24,058 $ 29,734 Futures and forwards 5,377 10,189 Written options 3,689 3,903 Purchased options 4,170 4,259 Total interest rate contracts 37,294 48,085 Credit derivatives (a) 3,503 4,249 Foreign exchange contracts Cross-currency swaps 3,052 3,346 Spot, futures and forwards 4,976 4,669 Written options 759 790 Purchased options 740 780 Total foreign exchange contracts 9,527 9,585 Equity contracts Swaps 227 206 Futures and forwards 45 50 Written options 457 432 Purchased options 388 375 Total equity contracts 1,117 1,063 Commodity contracts Swaps 103 126 Spot, futures and forwards 132 193 Written options 172 181 Purchased options 170 180 Total commodity contracts 577 680 Total derivative notional amounts $ 52,018 $ 63,662 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on pages 117–118 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 September 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 September 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 $ 733,909 $ 5,042 $ 738,951 $ 29,116 $ 699,048 $ 2,791 $ 701,839 $ 10,725 Credit 54,409 — 54,409 1,724 53,111 — 53,111 1,646 Foreign exchange 185,015 1,534 186,549 21,116 201,298 1,155 202,453 22,044 Equity 46,727 — 46,727 7,490 47,549 — 47,549 9,006 Commodity 27,452 1,008 28,460 9,222 32,542 18 32,560 13,719 Total fair value of trading assets and liabilities $ 1,047,512 $ 7,584 $ 1,055,096 $ 68,668 $ 1,033,548 $ 3,964 $ 1,037,512 $ 57,140 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 September 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. September 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 $ 455,022 $ (432,456 ) $ 22,566 $ 542,107 $ (514,914 ) $ 27,193 OTC–cleared 277,403 (277,379 ) 24 401,656 (401,618 ) 38 Exchange-traded (a) — — — — — — Total interest rate contracts 732,425 (709,835 ) 22,590 943,763 (916,532 ) 27,231 Credit contracts: OTC 44,739 (44,680 ) 59 66,636 (65,720 ) 916 OTC–cleared 8,020 (8,005 ) 15 9,320 (9,284 ) 36 Total credit contracts 52,759 (52,685 ) 74 75,956 (75,004 ) 952 Foreign exchange contracts: OTC 181,104 (165,157 ) 15,947 208,803 (193,900 ) 14,903 OTC–cleared 276 (276 ) — 36 (34 ) 2 Exchange-traded (a) — — — — — — Total foreign exchange contracts 181,380 (165,433 ) 15,947 208,839 (193,934 ) 14,905 Equity contracts: OTC 26,509 (25,732 ) 777 23,258 (22,826 ) 432 OTC–cleared — — — — — — Exchange-traded (a) 17,579 (13,505 ) 4,074 13,840 (11,486 ) 2,354 Total equity contracts 44,088 (39,237 ) 4,851 37,098 (34,312 ) 2,786 Commodity contracts: OTC 14,610 (6,644 ) 7,966 22,555 (14,327 ) 8,228 OTC–cleared — — — — — — Exchange-traded (a) 12,844 (12,594 ) 250 19,500 (15,344 ) 4,156 Total commodity contracts 27,454 (19,238 ) 8,216 42,055 (29,671 ) 12,384 Derivative receivables with appropriate legal opinion $ 1,038,106 $ (986,428 ) (b) $ 51,678 $ 1,307,711 $ (1,249,453 ) (b) $ 58,258 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 16,990 16,990 20,717 20,717 Total derivative receivables recognized on the Consolidated balance sheets $ 1,055,096 $ 68,668 $ 1,328,428 $ 78,975 (a) Exchange-traded derivative amounts that relate to futures contracts are settled daily. (b) Included cash collateral netted of $74.3 billion and $74.0 billion at September 30, 2015 , and December 31, 2014 , respectively. |
Offsetting liabilities | The following table presents, as of September 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. September 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 $ 431,744 $ (422,367 ) $ 9,377 $ 515,904 $ (503,384 ) $ 12,520 OTC–cleared 268,798 (268,747 ) 51 398,518 (397,250 ) 1,268 Exchange-traded (a) — — — — — — Total interest rate contracts 700,542 (691,114 ) 9,428 914,422 (900,634 ) 13,788 Credit contracts: OTC 45,435 (44,220 ) 1,215 65,432 (64,904 ) 528 OTC–cleared 7,245 (7,245 ) — 9,398 (9,398 ) — Total credit contracts 52,680 (51,465 ) 1,215 74,830 (74,302 ) 528 Foreign exchange contracts: OTC 196,762 (180,048 ) 16,714 217,998 (201,578 ) 16,420 OTC–cleared 362 (361 ) 1 66 (66 ) — Exchange-traded (a) — — — — — — Total foreign exchange contracts 197,124 (180,409 ) 16,715 218,064 (201,644 ) 16,420 Equity contracts: OTC 28,605 (25,038 ) 3,567 27,908 (23,036 ) 4,872 OTC–cleared — — — — — — Exchange-traded (a) 15,065 (13,505 ) 1,560 12,864 (11,486 ) 1,378 Total equity contracts 43,670 (38,543 ) 5,127 40,772 (34,522 ) 6,250 Commodity contracts: OTC 17,490 (6,247 ) 11,243 25,129 (13,211 ) 11,918 OTC–cleared — — — — — — Exchange-traded (a) 12,655 (12,594 ) 61 18,486 (15,344 ) 3,142 Total commodity contracts 30,145 (18,841 ) 11,304 43,615 (28,555 ) 15,060 Derivative payables with appropriate legal opinions $ 1,024,161 $ (980,372 ) (b) $ 43,789 $ 1,291,703 $ (1,239,657 ) (b) $ 52,046 Derivative payables where an appropriate legal opinion has not been either sought or obtained 13,351 13,351 19,070 19,070 Total derivative payables recognized on the Consolidated balance sheets $ 1,037,512 $ 57,140 $ 1,310,773 $ 71,116 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Included cash collateral netted of $68.2 billion and $64.2 billion related to OTC and OTC-cleared derivatives at September 30, 2015 , and December 31, 2014 , respectively. |
Current credit risk of derivative receivables and liquidity risk of derivative payables | The following tables present information regarding certain financial instrument collateral received and transferred as of September 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 receivables collateral September 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 $ 51,678 $ (15,706 ) (a) $ 35,972 $ 58,258 $ (16,194 ) (a) $ 42,064 Derivative payables collateral (b) September 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 $ 43,789 $ (8,424 ) (a) $ 35,365 $ 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 payables collateral relates only to OTC and OTC-cleared derivative instruments. Amounts exclude collateral transferred related to exchange-traded derivative instruments. (c) Net amount represents exposure of counterparties to the Firm. The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at September 30, 2015 , and December 31, 2014 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2015 December 31, 2014 Aggregate fair value of net derivative payables $ 24,822 $ 32,303 Collateral posted 22,858 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 September 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 September 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) $ 895 $ 3,164 $ 1,046 $ 3,331 Amount required to settle contracts with termination triggers upon downgrade (b) 287 1,141 366 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. |
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 nine months ended September 30, 2015 and 2014 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 1,298 $ (1,071 ) $ 227 $ 8 $ 219 Foreign exchange (b) 1,012 (998 ) 14 — 14 Commodity (c) 303 (271 ) 32 (3 ) 35 Total $ 2,613 $ (2,340 ) $ 273 $ 5 $ 268 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2014 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (286 ) $ 651 $ 365 $ 27 $ 338 Foreign exchange (b) 6,008 (6,052 ) (44 ) — (44 ) Commodity (c) 284 (236 ) 48 10 38 Total $ 6,006 $ (5,637 ) $ 369 $ 37 $ 332 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2015 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 363 $ 390 $ 753 $ 6 $ 747 Foreign exchange (b) 5,369 (5,360 ) 9 — 9 Commodity (c) 867 (874 ) (7 ) (14 ) 7 Total $ 6,599 $ (5,844 ) $ 755 $ (8 ) $ 763 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2014 (in millions) Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 1,035 $ (17 ) $ 1,018 $ 99 $ 919 Foreign exchange (b) 5,222 (5,421 ) (199 ) — (199 ) Commodity (c) (97 ) 278 181 38 143 Total $ 6,160 $ (5,160 ) $ 1,000 $ 137 $ 863 (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 nine months ended September 30, 2015 and 2014 , respectively. Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 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) $ 14 $ — $ 14 $ (70 ) $ (84 ) Foreign exchange (b) (19 ) — (19 ) (105 ) (86 ) Total $ (5 ) $ — $ (5 ) $ (175 ) $ (170 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 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) $ (12 ) $ — $ (12 ) $ 26 $ 38 Foreign exchange (b) 43 — 43 (92 ) (135 ) Total $ 31 $ — $ 31 $ (66 ) $ (97 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 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) $ (113 ) $ — $ (113 ) $ (90 ) $ 23 Foreign exchange (b) (74 ) — (74 ) (14 ) 60 Total $ (187 ) $ — $ (187 ) $ (104 ) $ 83 Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 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) $ (48 ) $ — $ (48 ) $ 160 $ 208 Foreign exchange (b) 81 — 81 (11 ) (92 ) Total $ 33 $ — $ 33 $ 149 $ 116 (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 nine months ended September 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 nine months ended September 30, 2015 and 2014 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2015 2014 Three months ended September 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 $ (103 ) $ 908 $ (114 ) $ 1,185 Gains/(losses) recorded in income and 2015 2014 Nine months ended September 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 $ (292 ) $ 1,651 $ (341 ) $ 823 (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 nine months ended September 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 Nine months ended (in millions) 2015 2014 2015 2014 Contract type Interest rate (a) $ 665 $ 321 $ 785 $ 1,428 Credit (b) 76 1 52 (40 ) Foreign exchange (c) 26 (2 ) 21 (5 ) Commodity (d) — 16 (13 ) 178 Total $ 767 $ 336 $ 845 $ 1,561 (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 September 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 $ (1,683,730 ) $ 1,699,718 $ 15,988 $ 14,572 Other credit derivatives (a) (44,493 ) 41,960 (2,533 ) 18,217 Total credit derivatives (1,728,223 ) 1,741,678 13,455 32,789 Credit-related notes (22 ) — (22 ) 4,357 Total $ (1,728,245 ) $ 1,741,678 $ 13,433 $ 37,146 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 September 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 September 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 $ (278,173 ) $ (881,329 ) $ (101,523 ) $ (1,261,025 ) $ 15,057 $ (6,870 ) $ 8,187 Noninvestment-grade (119,287 ) (307,953 ) (39,980 ) (467,220 ) 13,259 (17,838 ) (4,579 ) Total $ (397,460 ) $ (1,189,282 ) $ (141,503 ) $ (1,728,245 ) $ 28,316 $ (24,708 ) $ 3,608 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 Investors Service ("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) | 9 Months Ended |
Sep. 30, 2015 | |
Noninterest Income [Abstract] | |
Components of investment banking fees | The following table presents the components of investment banking fees. Three months ended September 30, Nine months ended (in millions) 2015 2014 2015 2014 Underwriting Equity $ 257 $ 414 $ 1,108 $ 1,244 Debt 855 710 2,621 2,269 Total underwriting 1,112 1,124 3,729 3,513 Advisory 492 414 1,502 1,196 Total investment banking fees $ 1,604 $ 1,538 $ 5,231 $ 4,709 |
Principal transactions revenue | 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 September 30, Nine months ended (in millions) 2015 2014 2015 2014 Trading revenue by instrument type Interest rate $ 530 $ 655 $ 1,836 $ 1,636 Credit 438 556 1,477 1,685 Foreign exchange 607 381 2,014 1,249 Equity 637 638 2,593 2,202 Commodity (a) 156 411 745 1,446 Total trading revenue 2,368 2,641 8,665 8,218 Private equity gains (b) (1 ) 325 191 978 Principal transactions $ 2,367 $ 2,966 $ 8,856 $ 9,196 (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 September 30, Nine months ended (in millions) 2015 2014 2015 2014 Asset management fees Investment management fees (a) $ 2,327 $ 2,311 $ 7,017 $ 6,667 All other asset management fees (b) 92 120 290 374 Total asset management fees 2,419 2,431 7,307 7,041 Total administration fees (c) 486 536 1,520 1,627 Commission and other fees Brokerage commissions 575 567 1,761 1,766 All other commissions and fees 365 444 1,079 1,387 Total commissions and fees 940 1,011 2,840 3,153 Total asset management, administration and commissions $ 3,845 $ 3,978 $ 11,667 $ 11,821 (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 Nine months ended (in millions) 2015 2014 2015 2014 Operating lease income $ 536 $ 433 $ 1,509 $ 1,252 |
Interest income and interest 38
Interest income and interest expense (Tables) | 9 Months Ended |
Sep. 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 Nine months ended (in millions) 2015 2014 2015 2014 Interest income Loans $ 8,433 $ 8,060 $ 24,459 $ 24,138 Taxable securities 1,553 1,903 4,885 5,743 Nontaxable securities (a) 439 387 1,260 1,041 Total securities 1,992 2,290 6,145 6,784 Trading assets 1,538 1,855 5,008 5,453 Federal funds sold and securities purchased under resale agreements 431 400 1,167 1,234 Securities borrowed (b) (118 ) (150 ) (397 ) (369 ) Deposits with banks 291 300 944 835 Other assets (c) 172 171 492 505 Total interest income 12,739 12,926 37,818 38,580 Interest expense Interest-bearing deposits 293 399 965 1,242 Short-term and other liabilities (d) 315 238 991 1,121 Long-term debt 1,092 1,084 3,254 3,337 Beneficial interests issued by consolidated VIEs 115 98 323 308 Total interest expense 1,815 1,819 5,533 6,008 Net interest income 10,924 11,107 32,285 32,572 Provision for credit losses 682 757 2,576 2,299 Net interest income after provision for credit losses $ 10,242 $ 10,350 $ 29,709 $ 30,273 (a) Represents securities which are tax-exempt for U.S. federal income tax purposes. (b) Negative interest income for the three and nine months ended September 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 postretirem39
Pension and other postretirement employee benefit plans (Tables) | 9 Months Ended |
Sep. 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 September 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 85 $ 70 $ 9 $ 8 $ — $ — Interest cost on benefit obligations 125 133 28 34 8 9 Expected return on plan assets (232 ) (247 ) (38 ) (42 ) (27 ) (25 ) Amortization: Net (gain)/loss 62 6 9 12 — — Prior service cost/(credit) (9 ) (9 ) — (1 ) — — Net periodic defined benefit cost 31 (47 ) 8 11 (19 ) (16 ) Other defined benefit pension plans (a) 3 3 2 2 NA NA Total defined benefit plans 34 (44 ) 10 13 (19 ) (16 ) Total defined contribution plans 119 115 85 87 NA NA Total pension and OPEB cost included in compensation expense $ 153 $ 71 $ 95 $ 100 $ (19 ) $ (16 ) Pension plans U.S. Non-U.S. OPEB plans Nine months ended September 30, (in millions) 2015 2014 2015 2014 2015 2014 Components of net periodic benefit cost Benefits earned during the period $ 255 $ 210 $ 28 $ 25 $ — $ — Interest cost on benefit obligations 375 401 84 104 24 27 Expected return on plan assets (697 ) (739 ) (113 ) (131 ) (80 ) (75 ) Amortization: Net (gain)/loss 185 19 27 36 — — Prior service cost/(credit) (26 ) (31 ) (1 ) (1 ) — — Net periodic defined benefit cost 92 (140 ) 25 33 (56 ) (48 ) Other defined benefit pension plans (a) 10 10 7 5 NA NA Total defined benefit plans 102 (130 ) 32 38 (56 ) (48 ) Total defined contribution plans 323 333 254 254 NA NA Total pension and OPEB cost included in compensation expense $ 425 $ 203 $ 286 $ 292 $ (56 ) $ (48 ) (a) Includes various defined benefit pension plans which are individually immaterial. |
Employee stock-based incentiv40
Employee stock-based incentives (Tables) | 9 Months Ended |
Sep. 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 September 30, Nine 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 $ 269 $ 326 $ 856 $ 1,071 Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees 195 213 683 610 Total noncash compensation expense related to employee stock-based incentive plans $ 464 $ 539 $ 1,539 $ 1,681 |
Noninterest expense (Tables)
Noninterest expense (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Noninterest Expense [Abstract] | |
Components of noninterest expense | For details on Noninterest expense, see Consolidated statements of income on page 86 . Included within other expense is the following: Three months ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Firmwide legal expense $ 1,347 $ 1,062 $ 2,325 $ 1,769 Federal Deposit Insurance Corporation-related (“FDIC”) expense 298 250 916 809 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 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. September 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) $ 52,800 $ 1,811 $ 33 $ 54,578 $ 63,089 $ 2,302 $ 72 $ 65,319 Residential: Prime and Alt-A 6,811 66 19 6,858 5,595 78 29 5,644 Subprime 301 8 — 309 677 14 — 691 Non-U.S. 28,841 606 9 29,438 43,550 1,010 — 44,560 Commercial 22,763 287 157 22,893 20,687 438 17 21,108 Total mortgage-backed securities 111,516 2,778 218 114,076 133,598 3,842 118 137,322 U.S. Treasury and government agencies (a) 11,482 1 136 11,347 13,603 56 14 13,645 Obligations of U.S. states and municipalities 30,923 1,872 86 32,709 27,841 2,243 16 30,068 Certificates of deposit 415 3 — 418 1,103 1 1 1,103 Non-U.S. government debt securities 38,197 960 37 39,120 51,492 1,272 21 52,743 Corporate debt securities 14,747 185 151 14,781 18,158 398 24 18,532 Asset-backed securities: Collateralized loan obligations 31,381 69 146 31,304 30,229 147 182 30,194 Other 10,114 94 77 10,131 12,442 184 11 12,615 Total available-for-sale debt securities 248,775 5,962 851 253,886 288,466 8,143 387 296,222 Available-for-sale equity securities 2,587 18 — 2,605 2,513 17 — 2,530 Total available-for-sale securities $ 251,362 $ 5,980 $ 851 $ 256,491 $ 290,979 $ 8,160 $ 387 $ 298,752 Total held-to-maturity securities (b) $ 50,169 $ 1,724 $ 48 $ 51,845 $ 49,252 $ 1,902 $ — $ 51,154 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $41.6 billion and $59.3 billion at September 30, 2015, and December 31, 2014 , respectively. (b) As of September 30, 2015, consists of MBS issued by U. S. government-sponsored enterprises with an amortized cost of $31.9 billion , MBS issued by U.S. government agencies with an amortized cost of $5.6 billion and obligations of U.S. states and municipalities with an amortized cost of $12.7 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 September 30, 2015, and December 31, 2014. Securities with gross unrealized losses Less than 12 months 12 months or more September 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 $ 4,797 $ 19 $ 717 $ 14 $ 5,514 $ 33 Residential: Prime and Alt-A 2,294 14 251 5 2,545 19 Subprime — — — — — — Non-U.S. 1,477 9 — — 1,477 9 Commercial 10,256 155 269 2 10,525 157 Total mortgage-backed securities 18,824 197 1,237 21 20,061 218 U.S. Treasury and government agencies 11,205 136 — — 11,205 136 Obligations of U.S. states and municipalities 4,681 79 218 7 4,899 86 Certificates of deposit — — — — — — Non-U.S. government debt securities 2,941 30 205 7 3,146 37 Corporate debt securities 4,107 142 634 9 4,741 151 Asset-backed securities: Collateralized loan obligations 11,843 44 10,414 102 22,257 146 Other 4,800 77 — — 4,800 77 Total available-for-sale debt securities 58,401 705 12,708 146 71,109 851 Available-for-sale equity securities — — — — — — Held-to-maturity securities 4,824 48 — — 4,824 48 Total securities with gross unrealized losses $ 63,225 $ 753 $ 12,708 $ 146 $ 75,933 $ 899 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Realized gains $ 65 $ 41 $ 250 $ 265 Realized losses (20 ) (33 ) (107 ) (215 ) OTTI losses (12 ) (2 ) (14 ) (2 ) Net securities gains $ 33 $ 6 $ 129 $ 48 OTTI losses Credit-related losses recognized in income $ — $ — $ (1 ) $ — Securities the Firm intends to sell (12 ) (2 ) (13 ) (2 ) Total OTTI losses recognized in income $ (12 ) $ (2 ) $ (14 ) $ (2 ) |
Changes in the credit loss component of credit-impaired debt securities | The following table presents a rollforward for the three and nine months ended September 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 September 30, Nine months ended September 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 September 30, 2015, of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 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 $ 2,333 $ 10,991 $ 6,054 $ 92,138 $ 111,516 Fair value 2,344 11,184 6,263 94,285 114,076 Average yield (b) 1.40 % 1.76 % 3.23 % 2.95 % 2.81 % U.S. Treasury and government agencies Amortized cost $ 100 $ — $ 10,228 $ 1,154 $ 11,482 Fair value 100 — 10,121 1,126 11,347 Average yield (b) 0.13 % — % 0.22 % 0.43 % 0.24 % Obligations of U.S. states and municipalities Amortized cost $ 139 $ 765 $ 1,440 $ 28,579 $ 30,923 Fair value 142 788 1,513 30,266 32,709 Average yield (b) 6.55 % 3.39 % 5.43 % 6.68 % 6.54 % Certificates of deposit Amortized cost $ 364 $ 51 $ — $ — $ 415 Fair value 365 53 — — 418 Average yield (b) 5.69 % 3.28 % — % — % 5.39 % Non-U.S. government debt securities Amortized cost $ 7,243 $ 11,485 $ 17,299 $ 2,170 $ 38,197 Fair value 7,479 11,750 17,607 2,284 39,120 Average yield (b) 3.28 % 1.75 % 1.05 % 0.72 % 1.64 % Corporate debt securities Amortized cost $ 3,486 $ 8,243 $ 2,875 $ 143 $ 14,747 Fair value 3,510 8,287 2,846 138 14,781 Average yield (b) 2.18 % 2.29 % 2.77 % 4.46 % 2.38 % Asset-backed securities Amortized cost $ 513 $ 473 $ 20,162 $ 20,347 $ 41,495 Fair value 514 476 20,139 20,306 41,435 Average yield (b) 0.95 % 1.19 % 1.76 % 1.79 % 1.76 % Total available-for-sale debt securities Amortized cost $ 14,178 $ 32,008 $ 58,058 $ 144,531 $ 248,775 Fair value 14,454 32,538 58,489 148,405 253,886 Average yield (b) 2.69 % 1.93 % 1.57 % 3.47 % 2.78 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,587 $ 2,587 Fair value — — — 2,605 2,605 Average yield (b) — % — % — % 0.02 % 0.02 % Total available-for-sale securities Amortized cost $ 14,178 $ 32,008 $ 58,058 $ 147,118 $ 251,362 Fair value 14,454 32,538 58,489 151,010 256,491 Average yield (b) 2.69 % 1.93 % 1.57 % 3.41 % 2.75 % Total held-to-maturity securities Amortized cost $ 52 $ — $ 901 $ 49,216 $ 50,169 Fair value 52 — 942 50,851 51,845 Average yield (b) 4.41% — % 4.98 % 3.97 % 3.99% (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at September 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 ten 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, two years for agency residential collateralized mortgage obligations and three years for U.S. nonagency residential collateralized mortgage obligations. |
Securities financing activiti43
Securities financing activities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Securities Financing Transactions Disclosures [Abstract] | |
Schedule of securities purchased under resale agreements, netting & securities borrowed | The following table presents as of September 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. September 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 $ 375,841 $ (161,197 ) $ 214,644 $ 347,142 $ (142,719 ) $ 204,423 Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained 2,710 2,710 10,598 10,598 Total securities purchased under resale agreements $ 378,551 $ (161,197 ) $ 217,354 (a) $ 357,740 $ (142,719 ) $ 215,021 (a) Securities borrowed $ 105,668 NA $ 105,668 (b)(c) $ 110,435 NA $ 110,435 (b)(c) (a) At September 30, 2015 , and December 31, 2014 , included securities purchased under resale agreements of $27.4 billion and $28.6 billion , respectively, accounted for at fair value. (b) At September 30, 2015 , and December 31, 2014 , included securities borrowed of $405 million and $992 million , respectively, accounted for at fair value. (c) Included $21.5 billion and $27.7 billion at September 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 September 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. September 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 $ 214,644 $ (211,255 ) $ (518 ) $ 2,871 $ 204,423 $ (201,375 ) $ (246 ) $ 2,802 Securities borrowed $ 84,157 $ (81,413 ) $ — $ 2,744 $ 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 September 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. September 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 $ 311,565 $ (161,197 ) $ 150,368 $ 290,529 $ (142,719 ) $ 147,810 Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained (a) 14,070 14,070 21,996 21,996 Total securities sold under repurchase agreements $ 325,635 $ (161,197 ) $ 164,438 (c) $ 312,525 $ (142,719 ) $ 169,806 (c) Securities loaned (b) $ 20,738 NA $ 20,738 (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 $5.8 billion and $4.1 billion at September 30, 2015 , and December 31, 2014 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (c) At September 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 September 30, 2015 , and December 31, 2014 . (e) Included $41 million and $271 million at September 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 September 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. September 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 $ 150,368 $ (146,749 ) $ (442 ) $ 3,177 $ 147,810 $ (145,732 ) $ (497 ) $ 1,581 Securities loaned $ 20,697 $ (20,553 ) $ — $ 144 $ 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 | 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 September 30, 2015 . Gross liability balance September 30, 2015 (in millions) Securities sold under repurchase agreements Securities loaned Mortgage-backed securities $ 22,060 $ — U.S. Treasury and government agencies 166,522 223 Obligations of U.S. states and municipalities 1,718 — Non-U.S. government debt 89,573 621 Corporate debt securities 19,580 110 Asset-backed securities 5,238 — Equity securities 20,944 19,784 Total $ 325,635 $ 20,738 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 117,879 $ 124,711 $ 27,052 $ 55,993 $ 325,635 Total securities loaned 9,463 649 319 10,307 20,738 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan portfolio segment descriptions | 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. September 30, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 331,732 $ 125,634 $ 346,927 $ 804,293 (b) Held-for-sale 237 1,345 447 2,029 At fair value — — 3,135 3,135 Total $ 331,969 $ 126,979 $ 350,509 $ 809,457 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 $628 million and $1.3 billion at September 30, 2015 , and December 31, 2014 , respectively. |
Schedule of retained loans purchased, sold and reclassified to held-for-sale | 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 September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 1,196 (a)(b) $ — $ 1,199 $ 2,395 $ 1,945 (a)(b) $ — $ 312 $ 2,257 Sales 1,130 — 1,856 2,986 1,573 272 1,814 3,659 Retained loans reclassified to held-for-sale — 79 20 99 232 186 50 468 2015 2014 Nine months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 3,918 (a)(b) $ — $ 1,894 $ 5,812 $ 5,694 (a)(b) $ — $ 589 $ 6,283 Sales 4,073 1,269 7,381 12,723 3,816 272 6,493 10,581 Retained loans reclassified to held-for-sale 1,272 79 455 1,806 1,034 401 559 1,994 (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 $14.4 billion and $4.1 billion for the three months ended September 30, 2015 and 2014 , respectively, and $39.8 billion and $8.2 billion for the nine months ended September 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 Nine 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 $ 62 $ 97 $ 239 $ 223 Credit card 13 (9 ) 22 (9 ) Wholesale 33 26 32 53 Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) $ 108 $ 114 $ 293 $ 267 (a) Excludes sales related to loans accounted for at fair value. |
Consumer, excluding credit card | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of loans by portfolio segment | The table below provides information about retained consumer loans, excluding credit card, by class. (in millions) September 30, December 31, Residential real estate – excluding PCI Home equity: Senior lien $ 15,156 $ 16,367 Junior lien 31,974 36,375 Mortgages: Prime, including option ARMs 150,114 104,921 Subprime 3,853 5,056 Other consumer loans Auto 57,174 54,536 Business banking 20,871 20,058 Student and other 10,354 10,970 Residential real estate – PCI Home equity 15,490 17,095 Prime mortgage 9,196 10,220 Subprime mortgage 3,329 3,673 Option ARMs 14,221 15,708 Total retained loans $ 331,732 $ 294,979 |
Consumer, excluding credit card | Residential real estate – PCI | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
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 nine months ended September 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 September 30, Nine months ended September 30, 2015 2014 2015 2014 Beginning balance $ 13,741 $ 15,275 $ 14,592 $ 16,167 Accretion into interest income (424 ) (471 ) (1,290 ) (1,480 ) Changes in interest rates on variable-rate loans 3 (75 ) 21 (141 ) Other changes in expected cash flows (a) 511 242 508 425 Reclassification from nonaccretable difference (b) 90 — 90 $ — Balance at September 30 $ 13,921 $ 14,971 $ 13,921 $ 14,971 Accretable yield percentage 4.22 % 4.10 % 4.18 % 4.22 % (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 nine months ended September 30, 2015 and 2014 , other changes in expected cash flows were driven by changes in prepayment assumptions. (b) Reclassifications from nonaccretable difference in the three and nine months ended September 30, 2015 were driven by continued improvement in home prices and delinquencies, as well as increased granularity in the impairment estimates. |
Consumer, excluding credit card | Residential real estate | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of financing receivable credit quality indicators | The following table provides information by class for residential real estate – excluding retained PCI loans in the consumer, excluding credit card, portfolio segment. 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 14,571 $ 15,730 $ 31,289 $ 35,575 $ 140,579 $ 93,951 $ 3,244 $ 4,296 $ 189,683 $ 149,552 30–149 days past due 248 275 447 533 3,513 4,091 396 489 4,604 5,388 150 or more days past due 337 362 238 267 6,022 6,879 213 271 6,810 7,779 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 % of 30+ days past due to total retained loans (b) 3.86 % 3.89 % 2.14 % 2.20 % 0.83 % 1.42 % 15.81 % 15.03 % 1.55 % 2.27 % 90 or more days past due and government guaranteed (c) $ — $ — $ — $ — $ 6,405 $ 7,544 $ — $ — $ 6,405 $ 7,544 Nonaccrual loans 883 938 1,373 1,590 1,863 2,190 812 1,036 4,931 5,754 Current estimated LTV ratios (d)(e)(f) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 15 $ 21 $ 252 $ 467 $ 62 $ 120 $ 3 $ 10 $ 332 $ 618 Less than 660 7 10 69 138 62 103 20 51 158 302 101% to 125% and refreshed FICO scores: Equal to or greater than 660 87 134 2,124 3,149 434 648 36 118 2,681 4,049 Less than 660 50 69 607 923 267 340 139 298 1,063 1,630 80% to 100% and refreshed FICO scores: Equal to or greater than 660 450 633 5,014 6,481 3,497 3,863 178 432 9,139 11,409 Less than 660 172 226 1,422 1,780 852 1,026 468 770 2,914 3,802 Less than 80% and refreshed FICO scores: Equal to or greater than 660 12,331 13,048 19,242 20,030 128,678 81,805 1,406 1,586 161,657 116,469 Less than 660 2,044 2,226 3,244 3,407 5,214 4,906 1,603 1,791 12,105 12,330 U.S. government-guaranteed — — — — 11,048 12,110 — — 11,048 12,110 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 Geographic region California $ 2,090 $ 2,232 $ 7,123 $ 8,144 $ 42,588 $ 28,133 $ 541 $ 718 $ 52,342 $ 39,227 New York 2,591 2,805 6,819 7,685 19,695 16,550 539 677 29,644 27,717 Illinois 1,219 1,306 2,321 2,605 10,588 6,654 151 207 14,279 10,772 Texas 1,624 1,845 977 1,087 8,143 4,935 148 177 10,892 8,044 Florida 828 861 1,688 1,923 6,388 5,106 432 632 9,336 8,522 New Jersey 652 654 2,009 2,233 4,930 3,361 178 227 7,769 6,475 Washington 455 506 1,056 1,216 3,662 2,410 84 109 5,257 4,241 Arizona 843 927 1,396 1,595 2,800 1,805 77 112 5,116 4,439 Michigan 683 736 734 848 1,718 1,203 84 121 3,219 2,908 Ohio 1,053 1,150 670 778 1,061 615 85 112 2,869 2,655 All other (g) 3,118 3,345 7,181 8,261 48,541 34,149 1,534 1,964 60,374 47,719 Total retained loans $ 15,156 $ 16,367 $ 31,974 $ 36,375 $ 150,114 $ 104,921 $ 3,853 $ 5,056 $ 201,097 $ 162,719 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.7 billion and $2.6 billion ; 30 – 149 days past due included $3.0 billion and $3.5 billion ; and 150 or more days past due included $5.3 billion and $6.0 billion at September 30, 2015 , and December 31, 2014 , respectively. (b) At September 30, 2015 , and December 31, 2014 , Prime, including option ARMs loans excluded mortgage loans insured by U.S. government agencies of $8.3 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 September 30, 2015 , and December 31, 2014 , these balances included $3.8 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 September 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 September 30, 2015 , and December 31, 2014 , included mortgage loans insured by U.S. government agencies of $11.0 billion and $12.1 billion , respectively. |
Consumer, excluding credit card | Residential real estate | Residential real estate – PCI | |
Accounts, Notes, Loans and Financing Receivable [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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Carrying value (a) $ 15,490 $ 17,095 $ 9,196 $ 10,220 $ 3,329 $ 3,673 $ 14,221 $ 15,708 $ 42,236 $ 46,696 Related allowance for loan losses (b) 1,708 1,758 1,031 1,193 — 180 49 194 2,788 3,325 Loan delinquency (based on unpaid principal balance) Current $ 14,840 $ 16,295 $ 8,159 $ 8,912 $ 3,305 $ 3,565 $ 12,733 $ 13,814 $ 39,037 $ 42,586 30–149 days past due 317 445 423 500 465 536 705 858 1,910 2,339 150 or more days past due 710 1,000 638 837 381 551 1,328 1,824 3,057 4,212 Total loans $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 49,137 % of 30+ days past due to total loans 6.47 % 8.15 % 11.51 % 13.05 % 20.38 % 23.37 % 13.77 % 16.26 % 11.29 % 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 $ 298 $ 513 $ 19 $ 45 $ 22 $ 34 $ 48 $ 89 $ 387 $ 681 Less than 660 159 273 50 97 88 160 70 150 367 680 101% to 125% and refreshed FICO scores: Equal to or greater than 660 1,676 2,245 269 456 127 215 338 575 2,410 3,491 Less than 660 774 1,073 259 402 318 509 499 771 1,850 2,755 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,668 4,171 1,579 2,154 405 519 1,815 2,418 7,467 9,262 Less than 660 1,443 1,647 973 1,316 788 1,006 1,491 1,996 4,695 5,965 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,878 5,824 3,859 3,663 827 719 6,674 6,593 17,238 16,799 Less than 660 1,971 1,994 2,212 2,116 1,576 1,490 3,831 3,904 9,590 9,504 Total unpaid principal balance $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 49,137 Geographic region (based on unpaid principal balance) California $ 9,521 $ 10,671 $ 5,349 $ 5,965 $ 1,036 $ 1,138 $ 8,328 $ 9,190 $ 24,234 $ 26,964 New York 809 876 594 672 405 463 834 933 2,642 2,944 Illinois 371 405 272 301 201 229 343 397 1,187 1,332 Texas 235 273 97 92 248 281 77 85 657 731 Florida 1,533 1,696 611 689 381 432 1,231 1,440 3,756 4,257 New Jersey 319 348 243 279 142 165 483 553 1,187 1,345 Washington 850 959 199 225 84 95 348 395 1,481 1,674 Arizona 289 323 150 167 79 85 210 227 728 802 Michigan 46 53 148 166 116 130 159 182 469 531 Ohio 18 20 46 48 64 72 62 69 190 209 All other 1,876 2,116 1,511 1,645 1,395 1,562 2,691 3,025 7,473 8,348 Total unpaid principal balance $ 15,867 $ 17,740 $ 9,220 $ 10,249 $ 4,151 $ 4,652 $ 14,766 $ 16,496 $ 44,004 $ 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. |
Consumer, excluding credit card | Home equity | Residential real estate – PCI | Junior lien | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of financing receivable credit quality indicators | 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 the unpaid principal balance as of September 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 5,888 $ 8,972 4.26 % 6.42 % Beyond the revolving period (c) 5,770 4,143 4.75 6.42 HELOANs 611 736 5.56 8.83 Total $ 12,269 $ 13,851 4.56 % 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. |
Consumer, excluding credit card | Mortgages | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 561 $ 552 $ 726 $ 722 $ 3,954 $ 4,949 $ 1,437 $ 2,239 $ 6,678 $ 8,462 Without an allowance (a) 502 549 583 582 1,019 1,196 491 639 2,595 2,966 Total impaired loans (b)(c) $ 1,063 $ 1,101 $ 1,309 $ 1,304 $ 4,973 $ 6,145 $ 1,928 $ 2,878 $ 9,273 $ 11,428 Allowance for loan losses related to impaired loans $ 53 $ 84 $ 86 $ 147 $ 93 $ 127 $ 15 $ 64 $ 247 $ 422 Unpaid principal balance of impaired loans (d) 1,395 1,451 2,611 2,603 6,429 7,813 2,968 4,200 13,403 16,067 Impaired loans on nonaccrual status (e) 596 628 641 632 1,373 1,559 718 931 3,328 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 September 30, 2015 , Chapter 7 residential real estate loans included approximately 18% of senior lien home equity, 10% of junior lien home equity, 19% of prime mortgages, including option ARMs, and 14% of subprime mortgages that were 30 days or more past due. (b) At September 30, 2015 , and December 31, 2014 , $4.2 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 September 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 September 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 September 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 $ 1,072 $ 1,115 $ 13 $ 14 $ 8 $ 9 Junior lien 1,279 1,310 19 20 12 13 Mortgages Prime, including option ARMs 5,038 6,657 52 65 12 14 Subprime 1,942 3,411 30 45 10 13 Total residential real estate – excluding PCI $ 9,331 $ 12,493 $ 114 $ 144 $ 42 $ 49 Nine months ended September 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 $ 1,084 $ 1,128 $ 39 $ 42 $ 26 $ 28 Junior lien 1,287 1,316 59 61 38 40 Mortgages Prime, including option ARMs 5,562 6,811 166 199 36 41 Subprime 2,434 3,551 102 141 32 39 Total residential real estate – excluding PCI $ 10,367 $ 12,806 $ 366 $ 443 $ 132 $ 148 (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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Home equity: Senior lien $ 29 $ 27 $ 87 $ 74 Junior lien 110 53 199 157 Mortgages: Prime, including option ARMs 49 89 170 208 Subprime 13 29 47 82 Total residential real estate – excluding PCI $ 201 $ 198 $ 503 $ 521 |
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 September 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 333 232 1,502 164 283 274 381 502 2,499 1,172 Number of loans permanently modified 273 333 680 581 414 1,267 391 1,420 1,758 3,601 Concession granted: (a) Interest rate reduction 77 % 43 % 68 % 84 % 76 % 23 % 70 % 26 % 72 % 36 % Term or payment extension 90 53 87 84 77 18 82 29 84 36 Principal and/or interest deferred 34 10 21 22 28 7 17 6 24 9 Principal forgiveness 3 50 5 20 25 73 34 72 15 62 Other (b) — — — — 10 4 15 7 6 4 Nine months ended September 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 983 651 1,749 505 822 790 1,170 1,530 4,724 3,476 Number of loans permanently modified 849 854 1,830 2,238 1,122 2,184 1,275 2,680 5,076 7,956 Concession granted: (a) Interest rate reduction 75 % 56 % 73 % 85 % 72 % 40 % 70 % 43 % 73 % 56 % Term or payment extension 85 71 87 83 82 46 80 49 84 60 Principal and/or interest deferred 32 12 24 22 33 17 21 11 26 16 Principal forgiveness 5 38 4 26 25 54 32 57 16 45 Other (b) — — — — 9 9 12 9 5 6 (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 September 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 5.55 % 6.05 % 4.96 % 4.81 % 5.07 % 4.16 % 6.82 % 6.97 % 5.57 % 5.14 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.61 3.13 2.15 2.07 2.61 2.77 3.11 3.45 2.65 2.87 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 17 19 25 25 24 22 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 33 31 34 35 36 37 37 35 36 35 Charge-offs recognized upon permanent modification $ 1 $ 1 $ — $ 2 $ 4 $ 1 $ — $ 1 $ 5 $ 5 Principal deferred 3 1 4 2 9 8 4 4 20 15 Principal forgiven — 6 — 3 10 51 9 49 19 109 Balance of loans that redefaulted within one year of permanent modification (a) $ 4 $ 5 $ 1 $ 3 $ 23 $ 35 $ 15 $ 32 $ 43 $ 75 Nine months ended September 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 5.82 % 6.45 % 4.85 % 4.83 % 5.08 % 4.81 % 6.73 % 7.29 % 5.57 % 5.63 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.74 3.03 2.20 1.95 2.50 2.70 3.17 3.44 2.65 2.79 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 17 18 18 19 25 25 24 24 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 32 30 34 35 37 37 36 36 36 36 Charge-offs recognized upon permanent modification $ 1 $ 2 $ 2 $ 24 $ 7 $ 5 $ 2 $ 2 $ 12 $ 33 Principal deferred 10 3 10 8 31 31 14 15 65 57 Principal forgiven 2 12 — 20 26 76 26 81 54 189 Balance of loans that redefaulted within one year of permanent modification (a) $ 10 $ 14 $ 4 $ 8 $ 58 $ 97 $ 44 $ 72 $ 116 $ 191 (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 | Other Consumer | |
Accounts, Notes, Loans and Financing Receivable [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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 56,566 $ 53,866 $ 20,583 $ 19,710 $ 9,636 $ 10,080 $ 86,785 $ 83,656 30–119 days past due 600 663 185 208 469 576 1,254 1,447 120 or more days past due 8 7 103 140 249 314 360 461 Total retained loans $ 57,174 $ 54,536 $ 20,871 $ 20,058 $ 10,354 $ 10,970 $ 88,399 $ 85,564 % of 30+ days past due to total retained loans 1.06 % 1.23 % 1.38 % 1.73 % 2.04 % (d) 2.15 % (d) 1.25 % (d) 1.47 % (d) 90 or more days past due and still accruing (b) $ — $ — $ — $ — $ 289 $ 367 $ 289 $ 367 Nonaccrual loans 110 115 236 279 253 270 599 664 Geographic region California $ 6,836 $ 6,294 $ 3,368 $ 3,008 $ 1,093 $ 1,143 $ 11,297 $ 10,445 New York 3,730 3,662 3,251 3,187 1,230 1,259 8,211 8,108 Illinois 3,424 3,175 1,401 1,373 697 729 5,522 5,277 Texas 6,042 5,608 2,604 2,626 845 868 9,491 9,102 Florida 2,607 2,301 930 827 525 521 4,062 3,649 New Jersey 1,972 1,945 504 451 384 378 2,860 2,774 Washington 1,098 1,019 269 258 215 235 1,582 1,512 Arizona 1,923 2,003 1,185 1,083 236 239 3,344 3,325 Michigan 1,533 1,633 1,366 1,375 430 466 3,329 3,474 Ohio 2,284 2,157 1,366 1,354 578 629 4,228 4,140 All other 25,725 24,739 4,627 4,516 4,121 4,503 34,473 33,758 Total retained loans $ 57,174 $ 54,536 $ 20,871 $ 20,058 $ 10,354 $ 10,970 $ 88,399 $ 85,564 Loans by risk ratings (c) Noncriticized $ 10,079 $ 9,822 $ 15,224 $ 14,619 NA NA $ 25,303 $ 24,441 Criticized performing 85 35 802 708 NA NA 887 743 Criticized nonaccrual — — 183 213 NA NA 183 213 (a) Individual delinquency classifications included loans insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) as follows: current included $4.0 billion and $4.3 billion ; 30 - 119 days past due included $279 million and $364 million ; and 120 or more days past due included $228 million and $290 million at September 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) September 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 $507 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) September 30, December 31, Impaired loans With an allowance $ 512 $ 557 Without an allowance (a) 32 35 Total impaired loans (b)(c) $ 544 $ 592 Allowance for loan losses related to impaired loans $ 112 $ 117 Unpaid principal balance of impaired loans (d) 657 719 Impaired loans on nonaccrual status 430 456 (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 $543 million and $603 million for the three months ended September 30, 2015 and 2014 , respectively, and $565 million and $701 million for the nine months ended September 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 nine months ended September 30, 2015 and 2014 . (d) Represents the contractual amount of principal owed at September 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 nine months ended September 30, 2015 and 2014. (in millions) September 30, December 31, Loans modified in TDRs (a)(b) $ 398 $ 442 TDRs on nonaccrual status 284 306 (a) The impact of these modifications was not material to the Firm for the three and nine months ended September 30, 2015 and 2014 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of September 30, 2015 , and December 31, 2014 , were immaterial. |
Consumer, excluding credit card | Home equity | |
Accounts, Notes, Loans and Financing Receivable [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 September 30, 2015 , and December 31, 2014 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 18,883 $ 25,252 1.57 % 1.75 % Beyond the revolving period 10,509 7,979 3.03 3.16 HELOANs 2,582 3,144 2.75 3.34 Total $ 31,974 $ 36,375 2.14 % 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 allow 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. |
Credit card | |
Accounts, Notes, Loans and Financing Receivable [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) September 30, December 31, Loan delinquency Current and less than 30 days past due and still accruing $ 123,901 $ 126,189 30–89 days past due and still accruing 908 943 90 or more days past due and still accruing 825 895 Nonaccrual loans — — Total retained credit card loans $ 125,634 $ 128,027 Loan delinquency ratios % of 30+ days past due to total retained loans 1.38 % 1.44 % % of 90+ days past due to total retained loans 0.66 0.70 Credit card loans by geographic region California $ 17,830 $ 17,940 Texas 11,270 11,088 New York 10,965 10,940 Illinois 7,389 7,497 Florida 7,375 7,398 New Jersey 5,668 5,750 Ohio 4,504 4,707 Pennsylvania 4,324 4,489 Michigan 3,448 3,552 Virginia 3,068 3,263 All other 49,793 51,403 Total retained credit card loans $ 125,634 $ 128,027 Percentage of portfolio based on carrying value with estimated refreshed FICO scores Equal to or greater than 660 85.1 % 85.7 % Less than 660 14.9 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) September 30, December 31, Impaired credit card loans with an allowance (a)(b) Credit card loans with modified payment terms (c) $ 1,370 $ 1,775 Modified credit card loans that have reverted to pre-modification payment terms (d) 193 254 Total impaired credit card loans (e) $ 1,563 $ 2,029 Allowance for loan losses related to impaired credit card loans $ 485 $ 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 September 30, 2015 , and December 31, 2014 , $122 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 $71 million and $95 million at September 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 Nine months ended (in millions) 2015 2014 2015 2014 Average impaired credit card loans $ 1,620 $ 2,342 $ 1,775 $ 2,630 Interest income on impaired credit card loans 20 29 64 97 |
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 Nine months ended 2015 2014 2015 2014 Weighted-average interest rate of loans – before TDR 15.09 % 14.96 % 15.13 % 15.01 % Weighted-average interest rate of loans – after TDR 4.35 4.40 4.30 4.37 Loans that redefaulted within one year of modification (a) $ 23 $ 29 $ 65 $ 92 (a) Represents loans modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The amounts presented represent the balance of such loans as of the end of the quarter in which they defaulted. |
Wholesale | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
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) Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loans by risk ratings Investment-grade $ 64,719 $ 63,069 $ 71,068 $ 61,006 $ 22,805 $ 27,111 $ 10,843 $ 8,393 $ 91,754 $ 82,087 $ 261,189 $ 241,666 Noninvestment-grade: Noncriticized 45,012 44,117 16,795 16,541 6,048 7,085 256 300 11,402 10,075 79,513 78,118 Criticized performing 3,304 2,251 1,361 1,313 296 316 7 3 171 236 5,139 4,119 Criticized nonaccrual 672 188 257 253 11 18 — — 146 140 1,086 599 Total noninvestment- grade 48,988 46,556 18,413 18,107 6,355 7,419 263 303 11,719 10,451 85,738 82,836 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 324,502 % of total criticized to total retained loans 3.50 % 2.22 % 1.81 % 1.98 % 1.05 % 0.97 % 0.06 % 0.03 % 0.31 % 0.41 % 1.79 % 1.45 % % of nonaccrual loans to total retained loans 0.59 0.17 0.29 0.32 0.04 0.05 — — 0.14 0.15 0.31 0.18 Loans by geographic distribution (a) Total non-U.S. $ 30,734 $ 33,739 $ 2,671 $ 2,099 $ 18,019 $ 20,944 $ 1,666 $ 1,122 $ 43,454 $ 42,961 $ 96,544 $ 100,865 Total U.S. 82,973 75,886 86,810 77,014 11,141 13,586 9,440 7,574 60,019 49,577 250,383 223,637 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 324,502 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 112,916 $ 108,857 $ 89,041 $ 78,552 $ 29,092 $ 34,408 $ 11,038 $ 8,627 $ 102,018 $ 91,168 $ 344,105 $ 321,612 30–89 days past due and still accruing 118 566 167 275 47 104 68 69 1,212 1,201 1,612 2,215 90 or more days past due and still accruing (c) 1 14 16 33 10 — — — 97 29 124 76 Criticized nonaccrual 672 188 257 253 11 18 — — 146 140 1,086 599 Total retained loans $ 113,707 $ 109,625 $ 89,481 $ 79,113 $ 29,160 $ 34,530 $ 11,106 $ 8,696 $ 103,473 $ 92,538 $ 346,927 $ 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 | 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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 578 $ 174 $ 167 $ 193 $ 10 $ 15 $ — $ — $ 86 $ 89 $ 841 $ 471 Without an allowance (a) 94 24 124 87 1 3 — — 61 52 280 166 Total impaired loans $ 672 $ 198 $ 291 $ 280 $ 11 $ 18 $ — $ — $ 147 $ 141 $ 1,121 (c) $ 637 (c) Allowance for loan losses related to impaired loans $ 216 $ 34 $ 20 $ 36 $ 2 $ 4 $ — $ — $ 43 $ 13 $ 281 $ 87 Unpaid principal balance of impaired loans (b) 721 266 356 345 14 22 — — 151 202 1,242 835 (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 September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Commercial and industrial $ 559 $ 245 $ 388 $ 262 Real estate 261 287 257 316 Financial institutions 12 17 14 19 Government agencies — — 1 — Other 122 162 114 163 Total (a) $ 954 $ 711 $ 774 $ 760 (a) The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the three and nine months ended September 30, 2015 and 2014 . |
Wholesale | Real estate | |
Accounts, Notes, Loans and Financing Receivable [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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Real estate retained loans $ 58,139 $ 51,049 $ 19,045 $ 17,438 $ 4,832 $ 4,264 $ 7,465 $ 6,362 $ 89,481 $ 79,113 Criticized exposure 515 652 978 841 40 42 85 31 1,618 1,566 % of criticized exposure to total real estate retained loans 0.89 % 1.28 % 5.14 % 4.82 % 0.83 % 0.98 % 1.14 % 0.49 % 1.81 % 1.98 % Criticized nonaccrual $ 114 $ 126 $ 100 $ 110 $ — $ — $ 43 $ 17 $ 257 $ 253 % of criticized nonaccrual to total real estate retained loans 0.20 % 0.25 % 0.53 % 0.63 % — % — % 0.58 % 0.27 % 0.29 % 0.32 % |
Allowance for credit losses (Ta
Allowance for credit losses (Tables) | 9 Months Ended |
Sep. 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 Nine months ended September 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 1,269 2,626 46 3,941 1,613 2,882 106 4,601 Gross recoveries (577 ) (278 ) (64 ) (919 ) (629 ) (311 ) (120 ) (1,060 ) Net charge-offs/(recoveries) 692 2,348 (18 ) 3,022 984 2,571 (14 ) 3,541 Write-offs of PCI loans (a) 162 — — 162 196 — — 196 Provision for loan losses (346 ) 2,348 461 2,463 180 2,371 (183 ) 2,368 Other (1 ) (5 ) 8 2 2 (5 ) (3 ) (6 ) Ending balance at September 30, $ 5,849 $ 3,434 $ 4,183 $ 13,466 $ 7,458 $ 3,590 $ 3,841 $ 14,889 Allowance for loan losses by impairment methodology Asset-specific (b) $ 359 $ 485 (c) $ 281 $ 1,125 $ 618 $ 500 (c) $ 124 $ 1,242 Formula-based 2,702 2,949 3,902 9,553 3,178 3,090 3,717 9,985 PCI 2,788 — — 2,788 3,662 — — 3,662 Total allowance for loan losses $ 5,849 $ 3,434 $ 4,183 $ 13,466 $ 7,458 $ 3,590 $ 3,841 $ 14,889 Loans by impairment methodology Asset-specific $ 9,817 $ 1,563 $ 1,121 $ 12,501 $ 12,779 $ 2,227 $ 664 $ 15,670 Formula-based 279,679 124,071 345,802 749,552 227,113 124,337 319,692 671,142 PCI 42,236 — 4 42,240 48,487 — 5 48,492 Total retained loans $ 331,732 $ 125,634 $ 346,927 $ 804,293 $ 288,379 $ 126,564 $ 320,361 $ 735,304 Impaired collateral-dependent loans Net charge-offs $ 84 $ — $ 2 $ 86 $ 105 $ — $ 8 $ 113 Loans measured at fair value of collateral less cost to sell 2,653 — 325 2,978 3,138 — 315 3,453 Allowance for lending-related commitments Beginning balance at January 1, $ 13 $ — $ 609 $ 622 $ 8 $ — $ 697 $ 705 Provision for lending-related commitments 1 — 112 113 1 — (70 ) (69 ) Other — — — — — — 1 1 Ending balance at September 30, $ 14 $ — $ 721 $ 735 $ 9 $ — $ 628 $ 637 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 69 $ 69 $ — $ — $ 68 $ 68 Formula-based 14 — 652 666 9 — 560 569 Total allowance for lending-related commitments $ 14 $ — $ 721 $ 735 $ 9 $ — $ 628 $ 637 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 176 $ 176 $ — $ — $ 134 $ 134 Formula-based 60,005 526,433 354,172 940,610 54,912 531,301 470,857 1,057,070 Total lending-related commitments $ 60,005 $ 526,433 $ 354,348 $ 940,786 $ 54,912 $ 531,301 $ 470,991 $ 1,057,204 (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) | 9 Months Ended |
Sep. 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 146 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 146 – 148 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 146 – 148 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 148 Municipal bond vehicles 148 – 149 Credit-related note and asset swap vehicles 149 |
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 151 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 151 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) September 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 $ 88.7 $ 1.5 $ 73.8 $ 0.5 $ 1.7 $ 2.2 Subprime 25.2 0.1 23.3 0.1 — 0.1 Commercial and other (b) 125.6 0.2 87.3 0.5 3.6 4.1 Total $ 239.5 $ 1.8 $ 184.4 $ 1.1 $ 5.3 $ 6.4 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 151 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 $132 million and $64 million , respectively, at September 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 September 30, 2015 , and December 31, 2014 , 76% 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 $115 million and $185 million of noninvestment-grade retained interests at September 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 $239 million and $194 million of noninvestment-grade retained interests at September 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 September 30, 2015 , and December 31, 2014 , including the ratings profile of the VIEs’ assets, was as follows. (in billions) (a) Fair value of assets held by VIEs Liquidity facilities Excess/(deficit) (b) Maximum exposure Nonconsolidated municipal bond vehicles September 30, 2015 $ 11.6 $ 6.5 $ 5.1 $ 6.5 December 31, 2014 11.5 6.3 5.2 6.3 |
Ratings profile of the VIEs' assets | Ratings profile of VIE assets (c) Fair value of assets held by VIEs Wt. avg. expected life of assets (years) Investment-grade Noninvestment- grade (in billions, except where otherwise noted) (a) AAA to AAA- AA+ to AA- A+ to A- BBB+ to BBB- BB+ and below September 30, 2015 2.7 8.2 0.7 — — 11.6 4.7 December 31, 2014 2.7 8.4 0.4 — — 11.5 4.9 (a) Includes municipal bond VIEs sponsored by third parties, but where the Firm provides the liquidity facility and serves as the remarketing agent. (b) Represents the excess/(deficit) of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (c) 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 September 30, 2015 , and December 31, 2014 . Assets Liabilities September 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 $ — $ 46.7 $ 0.7 $ 47.4 $ 30.1 $ — $ 30.1 Firm-administered multi-seller conduits — 19.0 — 19.0 13.0 — 13.0 Municipal bond vehicles 2.7 — — 2.7 2.6 — 2.6 Mortgage securitization entities (b) 1.2 1.4 — 2.6 0.9 0.7 1.6 Student loan securitization entities 0.1 2.0 0.1 2.2 1.9 — 1.9 Other 0.2 — 1.3 1.5 0.2 0.1 0.3 Total $ 4.2 $ 69.1 $ 2.1 $ 75.4 $ 48.7 $ 0.8 $ 49.5 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 $33.2 billion and $35.4 billion at September 30, 2015 , and December 31, 2014 , respectively. The maturities of the long-term beneficial interests as of September 30, 2015, were as follows: $5.0 billion under one year, $23.8 billion between one and five years, and $4.4 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 and nine months ended September 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 September 30, Nine months ended September 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 $ 971 $ 2,982 $ 484 $ 3,101 $ 2,663 $ 9,033 $ 1,144 $ 7,740 All cash flows during the period: Proceeds from new securitizations (b) $ 972 $ 2,995 $ 484 $ 3,141 $ 2,674 $ 9,053 $ 1,147 $ 7,849 Servicing fees collected 129 — 142 1 409 2 418 3 Purchases of previously transferred financial assets (or the underlying collateral) (c) 1 — 52 — 2 — 119 — Cash flows received on interests 122 172 43 56 308 379 128 515 (a) Excludes re-securitization transactions. (b) For the three and nine months ended September 30, 2015, $913 million and $2.6 billion , respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 and $59 million of proceeds classified as level 3 of the fair value hierarchy. For the three and nine months ended September 30, 2015, $3.0 billion and $9.0 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and $5 million and $43 million , respectively, of proceeds classified as level 3 of the fair value hierarchy. For the three and nine months ended September 30, 2014, $484 million and $1.1 billion 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 nine months ended September 30, 2014, $3.1 billion and $7.4 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2 and zero and $130 million of proceeds classified as level 3 of the fair value hierarchy, and zero and $280 million of proceeds from commercial mortgage securitization were received as cash. All loans transferred into securitization vehicles during the three and nine months ended September 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Carrying value of loans sold (a) $ 11,394 $ 12,396 $ 34,193 $ 38,919 Proceeds received from loan sales as cash 139 77 238 166 Proceeds from loans sales as securities (b) 11,170 12,250 33,758 38,446 Total proceeds received from loan sales (c) $ 11,309 $ 12,327 $ 33,996 $ 38,612 Gains on loan sales (d) $ 61 $ 86 $ 238 $ 205 (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 September 30, 2015, and December 31, 2014, respectively; and liquidation losses for the three and nine months ended September 30, 2015 and 2014, respectively. Liquidation losses Securitized assets 90 days past due Three months ended September 30, Nine months ended September 30, (in millions) Sep 30, Dec 31, Sep 30, Dec 31, 2015 2014 2015 2014 Securitized loans (a) Residential mortgage: Prime / Alt-A & Option ARMs $ 73,779 $ 78,294 $ 9,481 $ 11,363 $ 486 $ 465 $ 1,402 $ 1,722 Subprime 23,300 25,659 5,730 6,473 380 353 1,105 1,556 Commercial and other 87,369 94,438 1,580 1,522 211 471 350 1,113 Total loans securitized (b) $ 184,448 $ 198,391 $ 16,791 $ 19,358 $ 1,077 $ 1,289 $ 2,857 $ 4,391 (a) Total assets held in securitization-related SPEs were $239.5 billion and $254.3 billion , respectively, at September 30, 2015, and December 31, 2014. The $184.4 billion and $198.4 billion , respectively, of loans securitized at September 30, 2015, and December 31, 2014, excluded: $53.3 billion and $52.2 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $1.8 billion and $3.7 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at September 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 intangible47
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Tables of goodwill | The following table presents goodwill attributed to the business segments. (in millions) September 30, December 31, Consumer & Community Banking $ 30,851 $ 30,941 Corporate & Investment Bank 6,771 6,780 Commercial Banking 2,861 2,861 Asset Management 6,922 6,964 Corporate — 101 Total goodwill $ 47,405 $ 47,647 The following table presents changes in the carrying amount of goodwill. Three months ended Nine months ended (in millions) 2015 2014 2015 2014 Balance at beginning of period $ 47,476 $ 48,110 $ 47,647 $ 48,081 Changes during the period from: Business combinations 8 6 25 24 Dispositions — (1 ) (101 ) (b) (1 ) Other (a) (79 ) (145 ) (166 ) (134 ) Balance at September 30, $ 47,405 $ 47,970 $ 47,405 $ 47,970 (a) Includes foreign currency translation adjustments and other tax-related adjustments, and, during the three and nine months ended September 30, 2014 , goodwill impairment associated with the Firm’s Private Equity business of $68 million . (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 nine months ended September 30, 2015 and 2014 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2015 2014 2015 2014 Fair value at beginning of period $ 7,571 $ 8,347 $ 7,436 $ 9,614 MSR activity: Originations of MSRs 147 148 447 518 Purchase of MSRs (4 ) 3 435 9 Disposition of MSRs (a) — 11 (375 ) (175 ) Net additions 143 162 507 352 Changes due to collection/realization of expected cash flows (b) (233 ) (216 ) (677 ) (702 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (c) (677 ) (101 ) (338 ) (832 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (76 ) 44 (103 ) 33 Discount rates — — (10 ) (459 ) (g) Prepayment model changes and other (d) (12 ) — (99 ) 230 Total changes in valuation due to other inputs and assumptions (88 ) 44 (212 ) (196 ) Total changes in valuation due to inputs and assumptions (b) (765 ) (57 ) (550 ) (1,028 ) Fair value at September 30, (e) $ 6,716 $ 8,236 $ 6,716 $ 8,236 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ (765 ) $ (57 ) $ (550 ) $ (1,028 ) Contractual service fees, late fees and other ancillary fees included in income $ 634 $ 701 $ 1,945 $ 2,189 Third-party mortgage loans serviced at September 30, (in billions) $ 706 $ 771 $ 706 $ 771 Net servicer advances at September 30, (in billions) (f) $ 6.6 $ 8.6 $ 6.6 $ 8.6 (a) For the nine months ended September 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 September 30, 2014 and nine months ended September 30, 2015 and 2014 . (b) Included changes related to commercial real estate of $(1) million and $(1) million for the three months ended September 30, 2015 and 2014 , respectively, and $(3) million and $(5) million for the nine months ended September 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 $7 million and $13 million related to commercial real estate at September 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 nine months ended September 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 nine months ended September 30, 2015 and 2014 . Three months ended Nine months ended (in millions) 2015 2014 2015 2014 CCB mortgage fees and related income Net production revenue $ 176 $ 253 $ 646 $ 865 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 648 787 2,104 2,524 Changes in MSR asset fair value due to collection/realization of expected cash flows (232 ) (214 ) (674 ) (696 ) Total operating revenue 416 573 1,430 1,828 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) (677 ) (101 ) (338 ) (831 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (88 ) 44 (212 ) (196 ) Change in derivative fair value and other 642 133 429 1,040 Total risk management (123 ) 76 (121 ) 13 Total net mortgage servicing revenue 293 649 1,309 1,841 Total CCB mortgage fees and related income 469 902 1,955 2,706 All other — 1 2 2 Mortgage fees and related income $ 469 $ 903 $ 1,957 $ 2,708 (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 September 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) Sep 30, Dec 31, Weighted-average prepayment speed assumption (“CPR”) 10.19 % 9.80 % Impact on fair value of 10% adverse change $ (297 ) $ (337 ) Impact on fair value of 20% adverse change (571 ) (652 ) Weighted-average option adjusted spread 9.09 % 9.43 % Impact on fair value of 100 basis points adverse change $ (265 ) $ (300 ) Impact on fair value of 200 basis points adverse change (510 ) (578 ) CPR: Constant prepayment rate. |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Deposits [Abstract] | |
Noninterest-bearing and interest-bearing deposits | At September 30, 2015, and December 31, 2014, noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, 2015 December 31, 2014 U.S. offices Noninterest-bearing $ 404,984 $ 437,558 Interest-bearing: Demand (a) 77,092 90,319 Savings (b) 469,990 466,730 Time (included $9,497 and $7,501 at fair value) (c) 76,932 86,301 Total interest-bearing deposits 624,014 643,350 Total deposits in U.S. offices 1,028,998 1,080,908 Non-U.S. offices Noninterest-bearing 20,174 19,078 Interest-bearing: Demand 171,290 217,011 Savings 1,742 2,673 Time (included $1,565 and $1,306 at fair value) (c) 50,902 43,757 Total interest-bearing deposits 223,934 263,441 Total deposits in non-U.S. offices 244,108 282,519 Total deposits $ 1,273,106 $ 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) | 9 Months Ended |
Sep. 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 nine months ended September 30, 2015 and 2014 . (in millions, except per share amounts) Three months ended Nine months ended 2015 2014 2015 2014 Basic earnings per share Net income $ 6,804 $ 5,565 $ 19,008 $ 16,814 Less: Preferred stock dividends 393 304 1,097 799 Net income applicable to common equity 6,411 5,261 17,911 16,015 Less: Dividends and undistributed earnings allocated to participating securities 141 133 413 427 Net income applicable to common stockholders $ 6,270 $ 5,128 $ 17,498 $ 15,588 Total weighted-average basic shares outstanding 3,694.4 3,755.4 3,709.2 3,774.4 Net income per share $ 1.70 $ 1.37 $ 4.72 $ 4.13 Diluted earnings per share Net income applicable to common stockholders $ 6,270 $ 5,128 $ 17,498 $ 15,588 Total weighted-average basic shares outstanding 3,694.4 3,755.4 3,709.2 3,774.4 Add: Employee stock options, SARs and warrants (a) 31.2 33.3 33.0 33.9 Total weighted-average diluted shares outstanding (b) 3,725.6 3,788.7 3,742.2 3,808.3 Net income per share $ 1.68 $ 1.35 $ 4.68 $ 4.09 (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 nine months ended September 30, 2015 ; and 1 million for each of the three and nine months ended September 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 comprehensi50
Accumulated other comprehensive income/(loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
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 July 1, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) $ 1,102 Net change (291 ) (5 ) (106 ) 51 (351 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) $ 751 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 July 1, 2014 $ 4,867 $ (126 ) $ (12 ) $ (1,291 ) $ 3,438 Net change (141 ) 3 (58 ) 24 (172 ) Balance at September 30, 2014 $ 4,726 $ (123 ) $ (70 ) $ (1,267 ) $ 3,266 As of or for the nine 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 (1,621 ) (12 ) 51 144 (1,438 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) $ 751 As of or for the nine 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 1,928 13 69 57 2,067 Balance at September 30, 2014 $ 4,726 $ (123 ) $ (70 ) $ (1,267 ) $ 3,266 (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 September 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 $ (430 ) $ 160 $ (270 ) $ (283 ) $ 146 $ (137 ) Reclassification adjustment for realized (gains)/losses included in net income (a) (33 ) 12 (21 ) (6 ) 2 (4 ) Net change (463 ) 172 (291 ) (289 ) 148 (141 ) Translation adjustments: Translation (b) (912 ) 340 (572 ) (1,133 ) 416 (717 ) Hedges (b) 908 (341 ) 567 1,185 (465 ) 720 Net change (4 ) (1 ) (5 ) 52 (49 ) 3 Cash flow hedges: Net unrealized gains/(losses) arising during the period (175 ) 66 (109 ) (66 ) 27 (39 ) Reclassification adjustment for realized (gains)/losses included in net income (c) 5 (2 ) 3 (31 ) 12 (19 ) Net change (170 ) 64 (106 ) (97 ) 39 (58 ) Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — (1 ) — (1 ) Reclassification adjustments included in net income (d) : Amortization of net loss 71 (27 ) 44 18 (8 ) 10 Prior service costs/(credits) (9 ) 3 (6 ) (10 ) 4 (6 ) Foreign exchange and other 20 (7 ) 13 34 (13 ) 21 Net change 82 (31 ) 51 41 (17 ) 24 Total other comprehensive income/(loss) $ (555 ) $ 204 $ (351 ) $ (293 ) $ 121 $ (172 ) 2015 2014 Nine months ended September 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 $ (2,548 ) $ 1,008 $ (1,540 ) $ 3,116 $ (1,158 ) $ 1,958 Reclassification adjustment for realized (gains)/losses included in (a) (129 ) 48 (81 ) (48 ) 18 (30 ) Net change (2,677 ) 1,056 (1,621 ) 3,068 (1,140 ) 1,928 Translation adjustments: Translation (b) (1,645 ) 601 (1,044 ) (761 ) 274 (487 ) Hedges (b) 1,651 (619 ) 1,032 823 (323 ) 500 Net change 6 (18 ) (12 ) 62 (49 ) 13 Cash flow hedges: Net unrealized gains/(losses) arising during the period (104 ) 38 (66 ) 149 (60 ) 89 Reclassification adjustment for realized (gains)/losses included in (c)(e) 187 (70 ) 117 (33 ) 13 (20 ) Net change 83 (32 ) 51 116 (47 ) 69 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 101 (39 ) 62 87 (34 ) 53 Reclassification adjustments included in net income (d) : Amortization of net loss 212 (80 ) 132 55 (23 ) 32 Prior service costs/(credits) (27 ) 10 (17 ) (32 ) 13 (19 ) Foreign exchange and other 20 (53 ) (33 ) 15 (24 ) (9 ) Net change 306 (162 ) 144 125 (68 ) 57 Total other comprehensive income/(loss) $ (2,282 ) $ 844 $ (1,438 ) $ 3,371 $ (1,304 ) $ 2,067 (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) | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
Reconciliation of the Firm's regulatory capital, assets and risk-based capital ratios | The following table presents the minimum ratios to which the Firm and its national bank subsidiaries are subject as of September 30, 2015 . Minimum capital ratios (a) Well-capitalized ratios (b) Capital ratios CET1 4.5 % 6.5 % Tier 1 6.0 8.0 Total 8.0 10.0 (c) Tier 1 leverage 4.0 5.0 (a) As defined by the regulations issued by the Federal Reserve, OCC and FDIC and to which the Firm and its national bank subsidiaries are subject. (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. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. 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) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 173,577 $ 164,426 $ 173,577 $ 164,426 Tier 1 capital (a) 199,222 186,294 199,222 186,294 Total capital 234,462 221,225 223,962 210,684 Assets Risk-weighted 1,503,370 (f) 1,472,602 1,502,685 1,608,240 Adjusted average (b) 2,375,809 2,465,414 2,375,809 2,465,414 Capital ratios (c) CET1 11.5 % 11.2 % 11.6 % 10.2 % Tier 1 (a) 13.3 12.7 13.3 11.6 Total 15.6 15.0 14.9 13.1 Tier 1 leverage (d) 8.4 7.6 8.4 7.6 JPMorgan Chase Bank, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 166,636 $ 156,567 $ 166,636 $ 156,567 Tier 1 capital (a) 166,900 156,891 166,900 156,891 Total capital 181,404 173,328 174,626 166,331 Assets Risk-weighted 1,287,699 (f) 1,230,358 1,260,657 1,330,175 Adjusted (b) 1,920,310 1,968,131 1,920,310 1,968,131 Capital ratios (c) CET1 12.9 % 12.7 % 13.2 % 11.8 % Tier 1 (a) 13.0 12.8 13.2 11.8 Total 14.1 14.1 13.9 12.5 Tier 1 leverage (d) 8.7 8.0 8.7 8.0 Chase Bank USA, N.A. (e) Basel III Standardized Transitional Basel III Advanced Transitional (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, Regulatory capital CET1 capital $ 15,256 $ 14,556 $ 15,256 $ 14,556 Tier 1 capital (a) 15,256 14,556 15,256 14,556 Total capital 21,201 20,517 19,906 19,206 Assets Risk-weighted 101,533 (f) 103,468 149,813 157,565 Adjusted (b) 133,525 128,111 133,525 128,111 Capital ratios (c) CET1 15.0 % 14.1 % 10.2 % 9.2 % Tier 1 (a) 15.0 14.1 10.2 9.2 Total 20.9 19.8 13.3 12.2 Tier 1 leverage (d) 11.4 11.4 11.4 11.4 (a) At September 30, 2015 , trust preferred securities included in Basel III Tier 1 capital were $999 million and $420 million for JPMorgan Chase and JPMorgan Chase Bank, N.A., respectively. At September 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 and 2.5 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 $111 million and $130 million at September 30, 2015 , and December 31, 2014 , respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $3.0 billion and $2.7 billion at September 30, 2015 , and December 31, 2014 , respectively. |
Off-balance sheet lending-rel52
Off-balance sheet lending-related financial instruments, guarantees and other commitments (Tables) | 9 Months Ended |
Sep. 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 September 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) September 30, 2015 Dec 31, Sep 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 $ 1,632 $ 4,082 $ 835 $ 4,312 $ 10,861 $ 11,807 $ — $ — Home equity – junior lien 2,604 4,782 793 4,208 12,387 14,859 — — Prime mortgage (a) 13,959 — — — 13,959 8,579 — — Auto 8,380 1,416 165 25 9,986 10,462 2 2 Business banking 10,998 781 90 489 12,358 11,894 12 11 Student and other 8 4 — 442 454 552 — — Total consumer, excluding credit card 37,581 11,065 1,883 9,476 60,005 58,153 14 13 Credit card 526,433 — — — 526,433 525,963 — — Total consumer (b) 564,014 11,065 1,883 9,476 586,438 584,116 14 13 Wholesale: Other unfunded commitments to extend credit (c)(d) 70,201 77,449 110,713 6,710 265,073 272,676 386 374 Standby letters of credit and other financial guarantees (c)(d)(e) 23,666 26,670 33,421 1,511 85,268 89,874 774 788 Other letters of credit (c) 3,362 586 59 — 4,007 4,331 1 1 Total wholesale (f)(g) 97,229 104,705 144,193 8,221 354,348 366,881 1,161 1,163 Total lending-related $ 661,243 $ 115,770 $ 146,076 $ 17,697 $ 940,786 $ 950,997 $ 1,175 $ 1,176 Other guarantees and commitments Securities lending indemnification agreements and guarantees (h) $ 184,227 $ — $ — $ — $ 184,227 $ 171,059 $ — $ — Derivatives qualifying as guarantees 1,421 441 11,337 38,990 52,189 53,589 258 80 Unsettled reverse repurchase and securities borrowing agreements 56,525 — — — 56,525 40,993 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 184 275 Loans sold with recourse NA NA NA NA 4,685 6,063 89 102 Other guarantees and commitments (i) 1,429 1,556 2,206 1,619 6,810 5,720 (101 ) (121 ) (a) Includes certain commitments to purchase loans from correspondents. (b) Predominantly all consumer lending-related commitments are in the U.S. (c) At September 30, 2015 , and December 31, 2014 , reflects the contractual amount net of risk participations totaling $321 million and $243 million , respectively, for other unfunded commitments to extend credit; $11.7 billion and $13.0 billion , respectively, for standby letters of credit and other financial guarantees; and $409 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. (d) At September 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 $13.0 billion and $14.8 billion , respectively, within other unfunded commitments to extend credit; and $10.0 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 September 30, 2015 , and December 31, 2014 , included commitments that could be utilized for standby letters of credit commitments of $45.1 billion and $45.6 billion , respectively. (f) At September 30, 2015 , and December 31, 2014 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 77% 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 September 30, 2015 , and December 31, 2014 , collateral held by the Firm in support of securities lending indemnification agreements was $190.3 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 September 30, 2015 , and December 31, 2014 , included unfunded commitments of $57 million and $147 million , respectively, to third-party private equity funds; and $1.4 billion and $961 million , at September 30, 2015 , and December 31, 2014 , respectively, to other equity investments. These commitments included $53 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 September 30, 2015 , and December 31, 2014 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.6 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 September 30, 2015 , and December 31, 2014 . Standby letters of credit, other financial guarantees and other letters of credit September 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) $ 60,841 $ 3,362 $ 66,856 $ 3,476 Noninvestment-grade (a) 24,427 645 23,018 855 Total contractual amount $ 85,268 $ 4,007 $ 89,874 $ 4,331 Allowance for lending-related commitments $ 334 $ 1 $ 234 $ 1 Commitments with collateral 36,148 1,126 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 September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Repurchase liability at beginning of period $ 231 $ 436 $ 275 $ 681 Net realized gains/(losses) (a) 1 17 18 36 (Benefit)/provision for repurchase (b) (48 ) (62 ) (109 ) (326 ) Repurchase liability at end of period $ 184 $ 391 $ 184 $ 391 (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 $5 million for the three months ended September 30, 2015 and 2014 , respectively, and $6 million and $8 million for the nine months ended September 30, 2015 and 2014 , respectively. (b) Included a provision related to new loan sales of $1 million for each of the three months ended September 30, 2015 and 2014 , and $3 million for each of the nine months ended September 30, 2015 and 2014 |
Business segments (Tables)
Business segments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment results and reconciliation | Segment results and reconciliation (a) As of or for the three months ended September 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 $ 3,729 $ 4,214 $ 5,748 $ 6,129 $ 522 $ 571 $ 2,261 $ 2,422 Net interest income 7,150 7,153 2,420 2,976 1,122 1,132 633 624 Total net revenue 10,879 11,367 8,168 9,105 1,644 1,703 2,894 3,046 Provision for credit losses 389 902 232 (67 ) 82 (79 ) (17 ) 9 Noninterest expense 6,237 6,305 6,131 6,035 719 668 2,109 2,081 Income before income tax expense 4,253 4,160 1,805 3,137 843 1,114 802 956 Income tax expense 1,623 1,631 341 1,457 325 443 327 366 Net income $ 2,630 $ 2,529 $ 1,464 $ 1,680 $ 518 $ 671 $ 475 $ 590 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 484,253 448,033 801,133 873,971 201,157 191,563 131,412 130,296 Return on common equity 20% 19% 8% 10% 14% 18% 20% 25% Overhead ratio 57 55 75 66 44 39 73 68 As of or for the three months ended September 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 73 $ 450 $ (477 ) $ (424 ) $ 11,856 $ 13,362 Net interest income (123 ) (525 ) (278 ) $ (253 ) 10,924 11,107 Total net revenue (50 ) (75 ) (755 ) $ (677 ) 22,780 24,469 Provision for credit losses (4 ) (8 ) — — 682 757 Noninterest expense 172 709 — — 15,368 15,798 Income/(loss) before income tax expense/(benefit) (218 ) (776 ) (755 ) (677 ) 6,730 7,914 Income tax expense/(benefit) (1,935 ) (871 ) (755 ) (677 ) (74 ) 2,349 Net income $ 1,717 $ 95 $ — $ — $ 6,804 $ 5,565 Average common equity $ 81,023 $ 74,621 $ — $ — $ 217,023 $ 209,621 Total assets 799,166 882,792 NA NA 2,417,121 2,526,655 Return on common equity NM NM NM NM 12 % 10 % Overhead ratio NM NM NM NM 67 65 Segment results and reconciliation (a) As of or for the nine months ended September 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 $ 11,554 $ 12,116 $ 19,055 $ 18,874 $ 1,767 $ 1,706 $ 7,189 $ 7,020 Net interest income 21,044 21,303 7,418 8,338 3,358 3,406 1,885 1,808 Total net revenue 32,598 33,419 26,473 27,212 5,125 5,112 9,074 8,828 Provision for credit losses 2,021 2,570 251 (102 ) 325 (141 ) (13 ) 1 Noninterest expense 18,637 19,198 16,925 17,697 2,131 2,029 6,690 6,218 Income/(loss) before income tax expense/(benefit) 11,940 11,651 9,297 9,617 2,669 3,224 2,397 2,609 Income tax expense/(benefit) 4,558 4,645 2,955 3,681 1,028 1,282 969 996 Net income $ 7,382 $ 7,006 $ 6,342 $ 5,936 $ 1,641 $ 1,942 $ 1,428 $ 1,613 Average common equity $ 51,000 $ 51,000 $ 62,000 $ 61,000 $ 14,000 $ 14,000 $ 9,000 $ 9,000 Total assets 484,253 448,033 801,133 873,971 201,157 191,563 131,412 130,296 Return on common equity 18% 18 % 13% 12 % 15% 18 % 20% 23 % Overhead ratio 57 57 64 65 42 40 74 70 As of or for the nine months ended September 30, (in millions, except ratios) Corporate Reconciling Items (b) Total 2015 2014 2015 2014 2015 2014 Noninterest revenue $ 213 $ 1,325 $ (1,405 ) $ (1,251 ) $ 38,373 $ 39,790 Net interest income (597 ) (1,560 ) (823 ) (723 ) 32,285 32,572 Total net revenue (384 ) (235 ) (2,228 ) (1,974 ) 70,658 72,362 Provision for credit losses (8 ) (29 ) — — 2,576 2,299 Noninterest expense 368 723 — — 44,751 45,865 Income/(loss) before income tax expense/(benefit) (744 ) (929 ) (2,228 ) (1,974 ) 23,331 24,198 Income tax expense/(benefit) (2,959 ) (1,246 ) (2,228 ) (1,974 ) 4,323 7,384 Net income $ 2,215 $ 317 $ — $ — $ 19,008 $ 16,814 Average common equity $ 78,389 $ 70,888 $ — $ — $ 214,389 $ 205,888 Total assets 799,166 882,792 NA NA 2,417,121 2,526,655 Return on common equity NM NM NM NM 11% 10 % Overhead ratio NM NM NM NM 63 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 (Details)
Basis of presentation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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 | $ 223 | $ 669 | ||||
Increase in income tax expense, adoption of accounting guidance | $ 230 | $ 686 | ||||
Increase in the effective income tax rate | 2.00% | 2.00% | ||||
Tax credits and other tax benefits | $ 398 | $ 394 | $ 1,200 | $ 1,200 | ||
Amortization of affordable housing investments | 274 | $ 268 | 829 | $ 799 | ||
Carrying value of investments in affordable housing | 7,300 | 7,300 | $ 7,300 | |||
Commitments related to affordable housing investments | $ 1,900 | $ 1,900 | 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 developm55
Business changes and developments (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 02, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 |
Class of Stock [Line Items] | ||||||
Effective tax rate | (1.10%) | 29.70% | 18.50% | 30.50% | ||
Noncash tax benefit due to resolution of tax audits | $ 2,200 | $ 2,700 | ||||
Reduced effective tax rate due to resolution of tax audits | (32.00%) | (11.70%) | ||||
Decrease in unrecognized tax benefits | $ 2,000 | |||||
Trust preferred securities redeemed | $ 1,500 | |||||
Common stock, dividends, per share (in dollars per share) | $ 1.28 | $ 1.18 | ||||
Common stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, dividends, per share (in dollars per share) | $ 0.44 | $ 0.40 | ||||
Preferred stock | ||||||
Class of Stock [Line Items] | ||||||
Issuance of preferred stock | $ 1,200 | $ 6,005 | $ 8,905 |
Fair value measurement - Recurr
Fair value measurement - Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | $ 1,055,096 | $ 1,328,428 | ||||
Derivative netting adjustments | (986,428) | (1,249,453) | ||||
Derivative receivables, net | 68,668 | 78,975 | ||||
Trading assets | 361,708 | 398,988 | ||||
Available-for-sale securities | 256,491 | 298,752 | ||||
Mortgage servicing rights | 6,716 | $ 7,571 | 7,436 | $ 8,236 | $ 8,347 | $ 9,614 |
Derivative payables, gross | 1,037,512 | 1,310,773 | ||||
Derivative netting adjustments | (980,372) | (1,239,657) | ||||
Derivative payables, net | 57,140 | 71,116 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 1,400 | 1,500 | ||||
Reduction in level 3 derivative receivable and derivative payable balances | 1,800 | 2,500 | ||||
Costs of the private equity investment portfolio | 3,600 | 6,000 | ||||
Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 738,951 | 950,257 | ||||
Derivative netting adjustments | (709,835) | (916,532) | ||||
Derivative receivables, net | 29,116 | 33,725 | ||||
Derivative payables, gross | 701,839 | 918,379 | ||||
Derivative netting adjustments | (691,114) | (900,634) | ||||
Derivative payables, net | 10,725 | 17,745 | ||||
Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 54,409 | 76,842 | ||||
Derivative netting adjustments | (52,685) | (75,004) | ||||
Derivative receivables, net | 1,724 | 1,838 | ||||
Derivative payables, gross | 53,111 | 75,895 | ||||
Derivative netting adjustments | (51,465) | (74,302) | ||||
Derivative payables, net | 1,646 | 1,593 | ||||
Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 186,549 | 215,187 | ||||
Derivative netting adjustments | (165,433) | (193,934) | ||||
Derivative receivables, net | 21,116 | 21,253 | ||||
Derivative payables, gross | 202,453 | 224,614 | ||||
Derivative netting adjustments | (180,409) | (201,644) | ||||
Derivative payables, net | 22,044 | 22,970 | ||||
Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 46,727 | 42,489 | ||||
Derivative netting adjustments | (39,237) | (34,312) | ||||
Derivative receivables, net | 7,490 | 8,177 | ||||
Derivative payables, gross | 47,549 | 46,262 | ||||
Derivative netting adjustments | (38,543) | (34,522) | ||||
Derivative payables, net | 9,006 | 11,740 | ||||
Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 28,460 | 43,653 | ||||
Derivative netting adjustments | (19,238) | (29,671) | ||||
Derivative receivables, net | 9,222 | 13,982 | ||||
Derivative payables, gross | 32,560 | 45,623 | ||||
Derivative netting adjustments | (18,841) | (28,555) | ||||
Derivative payables, net | 13,719 | 17,068 | ||||
Other assets | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 1,300 | 1,400 | ||||
Loans reported as trading assets | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 81 | 124 | ||||
U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 41,600 | 59,300 | ||||
Residential real estate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 13,100 | 17,000 | ||||
Commercial mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 5,200 | 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 | 2,700 | 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 | 27,433 | 28,585 | ||||
Securities borrowed | 405 | 992 | ||||
Trading assets | 292,959 | 319,889 | ||||
Derivative netting adjustments | (986,428) | (1,249,453) | ||||
Derivative receivables, net | 68,668 | 78,975 | ||||
Trading assets | 361,627 | 398,864 | ||||
Available-for-sale securities | 256,491 | 298,752 | ||||
Loans | 3,135 | 2,611 | ||||
Mortgage servicing rights | 6,716 | 7,436 | ||||
Total assets measured at fair value on a recurring basis | 662,183 | 747,731 | ||||
Deposits | 11,062 | 8,807 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,565 | 2,979 | ||||
Other borrowed funds | 9,665 | 14,739 | ||||
Trading liabilities, Debt and equity instruments | 84,334 | 81,699 | ||||
Derivative netting adjustments | (980,372) | (1,239,657) | ||||
Derivative payables, net | 57,140 | 71,116 | ||||
Trading liabilities | 141,474 | 152,815 | ||||
Accounts payable and other liabilities | 5,850 | 4,155 | ||||
Beneficial interests issued by consolidated VIEs | 1,199 | 2,162 | ||||
Long-term debt | 31,160 | 30,226 | ||||
Total liabilities measured at fair value on a recurring basis | 203,975 | 215,883 | ||||
Recurring | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (709,835) | (916,532) | ||||
Derivative receivables, net | 29,116 | 33,725 | ||||
Derivative netting adjustments | (691,114) | (900,634) | ||||
Derivative payables, net | 10,725 | 17,745 | ||||
Recurring | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (52,685) | (75,004) | ||||
Derivative receivables, net | 1,724 | 1,838 | ||||
Derivative netting adjustments | (51,465) | (74,302) | ||||
Derivative payables, net | 1,646 | 1,593 | ||||
Recurring | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (165,433) | (193,934) | ||||
Derivative receivables, net | 21,116 | 21,253 | ||||
Derivative netting adjustments | (180,409) | (201,644) | ||||
Derivative payables, net | 22,044 | 22,970 | ||||
Recurring | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (39,237) | (34,312) | ||||
Derivative receivables, net | 7,490 | 8,177 | ||||
Derivative netting adjustments | (38,543) | (34,522) | ||||
Derivative payables, net | 9,006 | 11,740 | ||||
Recurring | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (19,238) | (29,671) | ||||
Derivative receivables, net | 9,222 | 13,982 | ||||
Derivative netting adjustments | (18,841) | (28,555) | ||||
Derivative payables, net | 13,719 | 17,068 | ||||
Recurring | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 1,912 | 5,497 | ||||
Recurring | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,464 | 4,994 | ||||
Recurring | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 7,700 | 11,909 | ||||
Recurring | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 197,183 | 199,650 | ||||
Recurring | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 38,529 | 36,117 | ||||
Available-for-sale securities | 114,076 | 137,322 | ||||
Recurring | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 35,829 | 32,840 | ||||
Available-for-sale securities | 54,578 | 65,319 | ||||
Recurring | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,624 | 2,044 | ||||
Available-for-sale securities | 36,605 | 50,895 | ||||
Recurring | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,076 | 1,233 | ||||
Available-for-sale securities | 22,893 | 21,108 | ||||
Recurring | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 29,759 | 26,276 | ||||
Available-for-sale securities | 11,347 | 13,645 | ||||
Recurring | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 7,115 | 10,571 | ||||
Available-for-sale securities | 32,709 | 30,068 | ||||
Recurring | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 525 | 1,429 | ||||
Recurring | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 418 | 1,103 | ||||
Recurring | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 56,829 | 53,450 | ||||
Available-for-sale securities | 39,120 | 52,743 | ||||
Recurring | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 26,248 | 31,088 | ||||
Available-for-sale securities | 14,781 | 18,532 | ||||
Recurring | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 33,823 | 36,367 | ||||
Recurring | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,355 | 4,352 | ||||
Recurring | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 31,304 | 30,194 | ||||
Recurring | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 10,131 | 12,615 | ||||
Recurring | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 80,671 | 105,945 | ||||
Available-for-sale securities | 2,605 | 2,530 | ||||
Recurring | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 3,985 | 4,482 | ||||
Recurring | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 11,120 | 9,812 | ||||
Recurring | U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 67,500 | 84,100 | ||||
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 | 133,596 | 151,313 | ||||
Gross derivative receivables | 1,652 | 1,478 | ||||
Trading assets | 135,248 | 152,791 | ||||
Available-for-sale securities | 37,538 | 40,195 | ||||
Loans | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 176,550 | 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, Debt and equity instruments | 64,715 | 62,914 | ||||
Derivative payables, gross | 1,637 | 1,386 | ||||
Trading liabilities | 66,352 | 64,300 | ||||
Accounts payable and other liabilities | 5,829 | 4,129 | ||||
Beneficial interests issued by consolidated VIEs | 0 | 0 | ||||
Long-term debt | 0 | 0 | ||||
Total liabilities measured at fair value on a recurring basis | 72,181 | 68,429 | ||||
Recurring | Level 1 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 657 | 473 | ||||
Derivative payables, gross | 629 | 499 | ||||
Recurring | Level 1 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 0 | 0 | ||||
Derivative payables, gross | 0 | 0 | ||||
Recurring | Level 1 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 777 | 758 | ||||
Derivative payables, gross | 876 | 746 | ||||
Recurring | Level 1 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 0 | 0 | ||||
Derivative payables, gross | 0 | 0 | ||||
Recurring | Level 1 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 218 | 247 | ||||
Derivative payables, gross | 132 | 141 | ||||
Recurring | Level 1 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 148 | 648 | ||||
Recurring | Level 1 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 3,616 | 4,018 | ||||
Recurring | Level 1 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 3,764 | 4,666 | ||||
Recurring | Level 1 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 50,805 | 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 | 22,451 | 17,816 | ||||
Available-for-sale securities | 11,305 | 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, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 0 | 0 | ||||
Recurring | Level 1 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 1 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 28,349 | 25,854 | ||||
Available-for-sale securities | 23,628 | 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 | 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 | 79,946 | 104,890 | ||||
Available-for-sale securities | 2,605 | 2,530 | ||||
Recurring | Level 1 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,845 | 2,739 | ||||
Recurring | Level 1 | Other | ||||||
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 | 27,433 | 28,585 | ||||
Securities borrowed | 405 | 992 | ||||
Trading assets | 146,284 | 146,087 | ||||
Gross derivative receivables | 1,044,566 | 1,314,385 | ||||
Trading assets | 1,190,850 | 1,460,472 | ||||
Available-for-sale securities | 218,118 | 257,520 | ||||
Loans | 260 | 70 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 1,437,159 | 1,750,280 | ||||
Deposits | 7,685 | 5,948 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 3,565 | 2,979 | ||||
Other borrowed funds | 8,897 | 13,286 | ||||
Trading liabilities, Debt and equity instruments | 19,552 | 18,713 | ||||
Derivative payables, gross | 1,025,061 | 1,294,761 | ||||
Trading liabilities | 1,044,613 | 1,313,474 | ||||
Accounts payable and other liabilities | 0 | 0 | ||||
Beneficial interests issued by consolidated VIEs | 181 | 1,016 | ||||
Long-term debt | 20,304 | 18,349 | ||||
Total liabilities measured at fair value on a recurring basis | 1,085,245 | 1,355,052 | ||||
Recurring | Level 2 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 735,468 | 945,635 | ||||
Derivative payables, gross | 699,215 | 914,357 | ||||
Recurring | Level 2 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 51,967 | 73,853 | ||||
Derivative payables, gross | 51,181 | 73,095 | ||||
Recurring | Level 2 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 183,986 | 212,153 | ||||
Derivative payables, gross | 199,256 | 221,066 | ||||
Recurring | Level 2 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 45,246 | 39,937 | ||||
Derivative payables, gross | 44,544 | 41,925 | ||||
Recurring | Level 2 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 27,899 | 42,807 | ||||
Derivative payables, gross | 30,865 | 44,318 | ||||
Recurring | Level 2 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 64 | 2,624 | ||||
Recurring | Level 2 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 29 | 17 | ||||
Recurring | Level 2 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 93 | 2,641 | ||||
Recurring | Level 2 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 134,129 | 134,960 | ||||
Recurring | Level 2 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 37,590 | 34,212 | ||||
Available-for-sale securities | 114,071 | 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 | 35,038 | 31,904 | ||||
Available-for-sale securities | 54,578 | 65,319 | ||||
Recurring | Level 2 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,505 | 1,381 | ||||
Available-for-sale securities | 36,600 | 50,865 | ||||
Recurring | Level 2 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,047 | 927 | ||||
Available-for-sale securities | 22,893 | 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 | 7,308 | 8,460 | ||||
Available-for-sale securities | 42 | 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 | 6,543 | 9,298 | ||||
Available-for-sale securities | 32,709 | 30,068 | ||||
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 | 525 | 1,429 | ||||
Recurring | Level 2 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 418 | 1,103 | ||||
Recurring | Level 2 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 28,394 | 27,294 | ||||
Available-for-sale securities | 15,492 | 28,669 | ||||
Recurring | Level 2 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 25,411 | 28,099 | ||||
Available-for-sale securities | 14,781 | 18,532 | ||||
Recurring | Level 2 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 25,809 | 23,080 | ||||
Recurring | Level 2 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,549 | 3,088 | ||||
Recurring | Level 2 | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 30,549 | 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 | 10,056 | 12,499 | ||||
Recurring | Level 2 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 390 | 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 | 1,140 | 1,741 | ||||
Recurring | Level 2 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 10,625 | 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 | 13,079 | 22,489 | ||||
Gross derivative receivables | 8,878 | 12,565 | ||||
Trading assets | 21,957 | 35,054 | ||||
Available-for-sale securities | 835 | 1,037 | ||||
Loans | 2,875 | 2,541 | ||||
Mortgage servicing rights | 6,716 | 7,436 | ||||
Total assets measured at fair value on a recurring basis | 34,902 | 49,252 | ||||
Deposits | 3,377 | 2,859 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Other borrowed funds | 768 | 1,453 | ||||
Trading liabilities, Debt and equity instruments | 67 | 72 | ||||
Derivative payables, gross | 10,814 | 14,626 | ||||
Trading liabilities | 10,881 | 14,698 | ||||
Accounts payable and other liabilities | 21 | 26 | ||||
Beneficial interests issued by consolidated VIEs | 1,018 | 1,146 | ||||
Long-term debt | 10,856 | 11,877 | ||||
Total liabilities measured at fair value on a recurring basis | 26,921 | 32,059 | ||||
Recurring | Level 3 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 2,826 | 4,149 | ||||
Derivative payables, gross | 1,995 | 3,523 | ||||
Recurring | Level 3 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 2,442 | 2,989 | ||||
Derivative payables, gross | 1,930 | 2,800 | ||||
Recurring | Level 3 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 1,786 | 2,276 | ||||
Derivative payables, gross | 2,321 | 2,802 | ||||
Recurring | Level 3 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 1,481 | 2,552 | ||||
Derivative payables, gross | 3,005 | 4,337 | ||||
Recurring | Level 3 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 343 | 599 | ||||
Derivative payables, gross | 1,563 | 1,164 | ||||
Recurring | Level 3 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 1,700 | 2,225 | ||||
Recurring | Level 3 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 819 | 959 | ||||
Recurring | Level 3 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 2,519 | 3,184 | ||||
Recurring | Level 3 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 12,249 | 21,006 | ||||
Recurring | Level 3 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 934 | 1,891 | ||||
Available-for-sale securities | 5 | 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 | 786 | 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 | 119 | 663 | ||||
Available-for-sale securities | 5 | 30 | ||||
Recurring | Level 3 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 29 | 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 | 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 | 572 | 1,273 | ||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 3 | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 0 | 0 | ||||
Recurring | Level 3 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 3 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 86 | 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 | 837 | 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 | 8,014 | 13,287 | ||||
Recurring | Level 3 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,806 | 1,264 | ||||
Recurring | Level 3 | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 755 | 792 | ||||
Recurring | Level 3 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 75 | 116 | ||||
Recurring | Level 3 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 335 | 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 | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 495 | 1,050 | ||||
Recurring, Excluding Amounts Measured at NAV [Member] | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | $ 6,376 | $ 10,491 |
Fair value measurement - Transf
Fair value measurement - Transfers (Details) - Recurring - USD ($) $ in Billions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
Long-term debt | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 of long-term debt | $ 2.4 | $ 1.1 | |
Derivative payables | Equity | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 of long-term debt | 3.1 | ||
Other borrowed funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 2 into level 3 | 1.1 | ||
Derivative receivables | Interest rate | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 | $ 1.1 | ||
Derivative receivables | Equity | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 | 3.4 | ||
Trading loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 | $ 2.3 | 1 | |
Corporate debt | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers from level 3 into level 2 | $ 2.2 | $ 1.1 |
Fair value measurement - Level
Fair value measurement - Level 3 Inputs (Details) | Sep. 30, 2015USD ($)$ / bbl | Mar. 31, 2015 | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2013USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,936,000,000) | $ (746,000,000) | $ (2,061,000,000) | $ (1,897,000,000) | $ (1,855,000,000) | $ 326,000,000 | |
Recurring | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | 203,975,000,000 | 215,883,000,000 | |||||
Beneficial interests issued by consolidated VIEs | 1,199,000,000 | 2,162,000,000 | |||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 292,959,000,000 | 319,889,000,000 | |||||
Trading liabilities | 141,474,000,000 | 152,815,000,000 | |||||
Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | 26,921,000,000 | 32,059,000,000 | |||||
Beneficial interests issued by consolidated VIEs | 1,018,000,000 | 1,146,000,000 | |||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 13,079,000,000 | 22,489,000,000 | |||||
Trading liabilities | $ 10,881,000,000 | 14,698,000,000 | |||||
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 | 35.00% | ||||||
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 | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | $ 506,000,000 | ||||||
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 | (49.00%) | ||||||
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 | 30.00% | ||||||
Foreign exchange correlation | 60.00% | ||||||
Equity correlation | 80.00% | ||||||
Long-term debt, other borrowed funds, and deposits | Option pricing | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | $ 14,495,000,000 | ||||||
Beneficial interests issued by consolidated VIEs | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Yield | 4.00% | ||||||
Prepayment speed | 1.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 40.00% | ||||||
Beneficial interests issued by consolidated VIEs | Discounted cash flows | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Yield | 28.00% | ||||||
Prepayment speed | 12.00% | ||||||
Conditional default rate | 15.00% | ||||||
Loss severity | 100.00% | ||||||
Beneficial interests issued by consolidated VIEs | Discounted cash flows | Weighted average | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Yield | 4.00% | ||||||
Prepayment speed | 8.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 48.00% | ||||||
Credit derivatives with underlying mortgage risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading liabilities | $ 355,000,000 | ||||||
Credit derivatives with underlying asset-backed securities risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading liabilities | 453,000,000 | ||||||
Interest rate | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 831,000,000 | 859,000,000 | 626,000,000 | 1,210,000,000 | 1,533,000,000 | 2,379,000,000 | |
Interest rate | Option pricing | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Interest rate correlation | (49.00%) | ||||||
Interest rate spread volatility | 4.00% | ||||||
Interest rate | 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 | 30.00% | ||||||
Interest rate | Option pricing | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 831,000,000 | ||||||
Credit | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 512,000,000 | 432,000,000 | 189,000,000 | 259,000,000 | 134,000,000 | 95,000,000 | |
Credit | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Credit correlation | 35.00% | ||||||
Credit | Discounted cash flows | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Credit correlation | 90.00% | ||||||
Credit | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 512,000,000 | ||||||
Foreign exchange | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (535,000,000) | 405,000,000 | (526,000,000) | (931,000,000) | (1,194,000,000) | (1,200,000,000) | |
Foreign exchange | Option pricing | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Foreign exchange correlation | 0.00% | ||||||
Foreign exchange | Option pricing | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Foreign exchange correlation | 60.00% | ||||||
Foreign exchange | Option pricing | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (535,000,000) | ||||||
Equity | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,524,000,000) | (1,848,000,000) | (1,785,000,000) | (2,421,000,000) | (2,206,000,000) | (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% | ||||||
Equity | Option pricing | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,524,000,000) | ||||||
Commodity | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,220,000,000) | $ (594,000,000) | $ (565,000,000) | $ (14,000,000) | $ (122,000,000) | $ 115,000,000 | |
Commodity | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Forward commodity price | $ / bbl | 33 | ||||||
Commodity | Discounted cash flows | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Forward commodity price | $ / bbl | 54 | ||||||
Commodity | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,220,000,000) | ||||||
Residential mortgage-backed securities and loans | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Yield | 4.00% | ||||||
Prepayment speed | 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] | |||||||
Yield | 26.00% | ||||||
Prepayment speed | 20.00% | ||||||
Conditional default rate | 11.00% | ||||||
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] | |||||||
Yield | 6.00% | ||||||
Prepayment speed | 7.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 37.00% | ||||||
Residential mortgage-backed securities and loans | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 5,653,000,000 | ||||||
Commercial mortgage-backed securities and loans | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Yield | 0.00% | ||||||
Conditional default rate | 0.00% | ||||||
Loss severity | 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] | |||||||
Yield | 25.00% | ||||||
Conditional default rate | 91.00% | ||||||
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] | |||||||
Yield | 3.00% | ||||||
Conditional default rate | 21.00% | ||||||
Loss severity | 29.00% | ||||||
Commercial mortgage-backed securities and loans | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 3,970,000,000 | ||||||
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] | |||||||
Yield | 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] | |||||||
Yield | 22.00% | ||||||
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] | |||||||
Yield | 5.00% | ||||||
Credit spread | 2.54% | ||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 3,556,000,000 | ||||||
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 | 139 | ||||||
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 | 94 | ||||||
Corporate debt securities, obligations of U.S. states and municipalities, and other | Market comparables | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 3,513,000,000 | ||||||
Collateralized loan obligations | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Prepayment speed | 20.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 40.00% | ||||||
Credit spread | 3.50% | ||||||
Collateralized loan obligations | Discounted cash flows | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Prepayment speed | 20.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 40.00% | ||||||
Credit spread | 5.25% | ||||||
Collateralized loan obligations | Discounted cash flows | Weighted average | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Prepayment speed | 20.00% | ||||||
Conditional default rate | 2.00% | ||||||
Loss severity | 40.00% | ||||||
Credit spread | 3.90% | ||||||
Collateralized loan obligations | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 755,000,000 | ||||||
Collateralized loan obligations | Market comparables | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price | 0 | ||||||
Collateralized loan obligations | Market comparables | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price | 100 | ||||||
Collateralized loan obligations | Market comparables | Weighted average | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price | 76 | ||||||
Collateralized loan obligations | Market comparables | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | 160,000,000 | ||||||
Mortgage servicing rights (MSRs) | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 6,716,000,000 | ||||||
Private equity investments | Market comparables | Private equity investments | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
EBITDA multiple | 6.4 | ||||||
Liquidity adjustment | 0.00% | ||||||
Private equity investments | Market comparables | Private equity investments | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
EBITDA multiple | 9.9 | ||||||
Liquidity adjustment | 15.00% | ||||||
Private equity investments | Market comparables | Private equity investments | Weighted average | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
EBITDA multiple | 8.7 | ||||||
Liquidity adjustment | 6.00% | ||||||
Private equity investments | Market comparables | Recurring | Level 3 | Private equity investments | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 1,700,000,000 | ||||||
Credit derivatives with underlying mortgage risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 394,000,000 | ||||||
Credit derivatives with underlying asset-backed securities risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | $ 491,000,000 |
Fair value measurement - Change
Fair value measurement - Changes in Level 3 Recurring Measurements (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Net derivative receivables: | |||||
Beginning balance | $ (746,000,000) | $ (1,855,000,000) | $ (2,061,000,000) | $ 326,000,000 | |
Total realized/unrealized gains/(losses) | (208,000,000) | 196,000,000 | (603,000,000) | ||
Purchases | 212,000,000 | 796,000,000 | 1,101,000,000 | 2,069,000,000 | |
Sales | (331,000,000) | (859,000,000) | (1,176,000,000) | (2,585,000,000) | |
Settlements | (181,000,000) | (246,000,000) | (707,000,000) | (591,000,000) | |
Transfers into and/or out of level 3 | (682,000,000) | 71,000,000 | (831,000,000) | (513,000,000) | |
Ending balance | (1,936,000,000) | (1,897,000,000) | (1,936,000,000) | (1,897,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | $ (86,000,000) | 457,000,000 | $ 1,029,000,000 | (993,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Level 3 liabilities as a percentage of total firm liabilities at fair value | 13.00% | 13.00% | 15.00% | ||
Deposits | |||||
Liabilities | |||||
Beginning balance | $ 3,528,000,000 | 2,838,000,000 | $ 2,859,000,000 | 2,255,000,000 | |
Total realized/unrealized (gains)/losses | 42,000,000 | (52,000,000) | (22,000,000) | 59,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 327,000,000 | 452,000,000 | 1,775,000,000 | 1,261,000,000 | |
Settlements | (280,000,000) | (44,000,000) | (425,000,000) | (110,000,000) | |
Transfers into and/or out of level 3 | (240,000,000) | (359,000,000) | (810,000,000) | (630,000,000) | |
Ending balance | 3,377,000,000 | 2,835,000,000 | 3,377,000,000 | 2,835,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 54,000,000 | (52,000,000) | 49,000,000 | 61,000,000 | |
Other borrowed funds | |||||
Liabilities | |||||
Beginning balance | 1,261,000,000 | 1,538,000,000 | 1,453,000,000 | 2,074,000,000 | |
Total realized/unrealized (gains)/losses | (402,000,000) | (45,000,000) | (525,000,000) | (138,000,000) | |
Purchases | 0 | 0 | 45,000,000 | 0 | |
Sales | 28,000,000 | 0 | 28,000,000 | 0 | |
Issuances | 575,000,000 | 1,575,000,000 | 2,897,000,000 | 4,251,000,000 | |
Settlements | (431,000,000) | (1,494,000,000) | (2,573,000,000) | (4,981,000,000) | |
Transfers into and/or out of level 3 | (263,000,000) | 418,000,000 | (557,000,000) | 786,000,000 | |
Ending balance | 768,000,000 | 1,992,000,000 | 768,000,000 | 1,992,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | (317,000,000) | (41,000,000) | (424,000,000) | 51,000,000 | |
Total trading assets – debt and equity instruments | |||||
Liabilities | |||||
Beginning balance | 72,000,000 | 80,000,000 | 72,000,000 | 113,000,000 | |
Total realized/unrealized (gains)/losses | 8,000,000 | (12,000,000) | 13,000,000 | (16,000,000) | |
Purchases | (10,000,000) | (36,000,000) | (141,000,000) | (298,000,000) | |
Sales | 2,000,000 | 22,000,000 | 149,000,000 | 301,000,000 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (6,000,000) | 9,000,000 | (20,000,000) | 1,000,000 | |
Transfers into and/or out of level 3 | 1,000,000 | (9,000,000) | (6,000,000) | (47,000,000) | |
Ending balance | 67,000,000 | 54,000,000 | 67,000,000 | 54,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 7,000,000 | (12,000,000) | 7,000,000 | (6,000,000) | |
Accounts payable and other liabilities | |||||
Liabilities | |||||
Beginning balance | 23,000,000 | 45,000,000 | 26,000,000 | 25,000,000 | |
Total realized/unrealized (gains)/losses | 0 | 0 | 0 | 27,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (2,000,000) | (5,000,000) | (5,000,000) | (12,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Ending balance | 21,000,000 | 40,000,000 | 21,000,000 | 40,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | 0 | 0 | 0 | 0 | |
Beneficial interests issued by consolidated VIEs | |||||
Liabilities | |||||
Beginning balance | 1,140,000,000 | 1,062,000,000 | 1,146,000,000 | 1,240,000,000 | |
Total realized/unrealized (gains)/losses | (35,000,000) | (42,000,000) | (52,000,000) | 59,000,000 | |
Purchases | (59,000,000) | 0 | (75,000,000) | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 653,000,000 | 286,000,000 | 735,000,000 | |
Settlements | (28,000,000) | (24,000,000) | (287,000,000) | (283,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | (102,000,000) | |
Ending balance | 1,018,000,000 | 1,649,000,000 | 1,018,000,000 | 1,649,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | (36,000,000) | (44,000,000) | (49,000,000) | 45,000,000 | |
Long-term debt | |||||
Liabilities | |||||
Beginning balance | 12,589,000,000 | 11,746,000,000 | 11,877,000,000 | 10,008,000,000 | |
Total realized/unrealized (gains)/losses | (420,000,000) | (382,000,000) | (617,000,000) | 157,000,000 | |
Purchases | (11,000,000) | 0 | (11,000,000) | 0 | |
Sales | 0 | 0 | (12,000,000) | 0 | |
Issuances | 2,057,000,000 | 2,175,000,000 | 7,440,000,000 | 5,919,000,000 | |
Settlements | (1,048,000,000) | (1,583,000,000) | (5,193,000,000) | (3,962,000,000) | |
Transfers into and/or out of level 3 | (2,311,000,000) | 4,000,000 | (2,628,000,000) | (162,000,000) | |
Ending balance | 10,856,000,000 | 11,960,000,000 | 10,856,000,000 | 11,960,000,000 | |
Change in unrealized gains(losses) related to financials instruments held | (392,000,000) | (266,000,000) | (583,000,000) | 231,000,000 | |
Interest rate | |||||
Net derivative receivables: | |||||
Beginning balance | 859,000,000 | 1,533,000,000 | 626,000,000 | 2,379,000,000 | |
Total realized/unrealized gains/(losses) | 244,000,000 | (46,000,000) | 737,000,000 | (20,000,000) | |
Purchases | 9,000,000 | 31,000,000 | 451,000,000 | 129,000,000 | |
Sales | (6,000,000) | (61,000,000) | (164,000,000) | (167,000,000) | |
Settlements | (147,000,000) | (232,000,000) | (500,000,000) | (997,000,000) | |
Transfers into and/or out of level 3 | (128,000,000) | (15,000,000) | (319,000,000) | (114,000,000) | |
Ending balance | 831,000,000 | 1,210,000,000 | 831,000,000 | 1,210,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 77,000,000 | (133,000,000) | 310,000,000 | (643,000,000) | |
Credit | |||||
Net derivative receivables: | |||||
Beginning balance | 432,000,000 | 134,000,000 | 189,000,000 | 95,000,000 | |
Total realized/unrealized gains/(losses) | 7,000,000 | 89,000,000 | 101,000,000 | (150,000,000) | |
Purchases | 6,000,000 | 23,000,000 | 16,000,000 | 245,000,000 | |
Sales | (1,000,000) | (4,000,000) | (5,000,000) | (25,000,000) | |
Settlements | 48,000,000 | 19,000,000 | 174,000,000 | 146,000,000 | |
Transfers into and/or out of level 3 | 20,000,000 | (2,000,000) | 37,000,000 | (52,000,000) | |
Ending balance | 512,000,000 | 259,000,000 | 512,000,000 | 259,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 13,000,000 | 112,000,000 | 237,000,000 | (74,000,000) | |
Foreign exchange | |||||
Net derivative receivables: | |||||
Beginning balance | 405,000,000 | (1,194,000,000) | (526,000,000) | (1,200,000,000) | |
Total realized/unrealized gains/(losses) | (254,000,000) | 176,000,000 | 691,000,000 | (166,000,000) | |
Purchases | 1,000,000 | 43,000,000 | 14,000,000 | 137,000,000 | |
Sales | (135,000,000) | (3,000,000) | (146,000,000) | (22,000,000) | |
Settlements | (154,000,000) | 51,000,000 | (140,000,000) | 306,000,000 | |
Transfers into and/or out of level 3 | (398,000,000) | (4,000,000) | (428,000,000) | 14,000,000 | |
Ending balance | (535,000,000) | (931,000,000) | (535,000,000) | (931,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (222,000,000) | 194,000,000 | 222,000,000 | (389,000,000) | |
Equity | |||||
Net derivative receivables: | |||||
Beginning balance | (1,848,000,000) | (2,206,000,000) | (1,785,000,000) | (1,063,000,000) | |
Total realized/unrealized gains/(losses) | 348,000,000 | (201,000,000) | 673,000,000 | (273,000,000) | |
Purchases | 196,000,000 | 699,000,000 | 620,000,000 | 1,557,000,000 | |
Sales | (187,000,000) | (791,000,000) | (859,000,000) | (2,371,000,000) | |
Settlements | 172,000,000 | (4,000,000) | (90,000,000) | 47,000,000 | |
Transfers into and/or out of level 3 | (205,000,000) | 82,000,000 | (83,000,000) | (318,000,000) | |
Ending balance | (1,524,000,000) | (2,421,000,000) | (1,524,000,000) | (2,421,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 277,000,000 | (164,000,000) | 414,000,000 | 239,000,000 | |
Commodity | |||||
Net derivative receivables: | |||||
Beginning balance | (594,000,000) | (122,000,000) | (565,000,000) | 115,000,000 | |
Total realized/unrealized gains/(losses) | (553,000,000) | 178,000,000 | (464,000,000) | 6,000,000 | |
Purchases | 0 | 0 | 0 | 1,000,000 | |
Sales | (2,000,000) | 0 | (2,000,000) | 0 | |
Settlements | (100,000,000) | (80,000,000) | (151,000,000) | (93,000,000) | |
Transfers into and/or out of level 3 | 29,000,000 | 10,000,000 | (38,000,000) | (43,000,000) | |
Ending balance | (1,220,000,000) | (14,000,000) | (1,220,000,000) | (14,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (231,000,000) | 448,000,000 | (154,000,000) | (126,000,000) | |
Total mortgage-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 1,162,000,000 | 1,995,000,000 | 1,891,000,000 | 2,163,000,000 | |
Total realized/unrealized gains/(losses) | (20,000,000) | (33,000,000) | 53,000,000 | 116,000,000 | |
Purchases | 98,000,000 | 477,000,000 | 637,000,000 | 1,774,000,000 | |
Sales | (131,000,000) | (455,000,000) | (959,000,000) | (1,624,000,000) | |
Settlements | (45,000,000) | (42,000,000) | (143,000,000) | (174,000,000) | |
Transfers into and/or out of level 3 | (130,000,000) | (30,000,000) | (545,000,000) | (343,000,000) | |
Fair value, ending balance | 934,000,000 | 1,912,000,000 | 934,000,000 | 1,912,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (75,000,000) | (46,000,000) | (39,000,000) | 16,000,000 | |
Mortgage-backed securities, U.S. government agencies | |||||
Assets | |||||
Fair value, beginning balance | 901,000,000 | 1,125,000,000 | 922,000,000 | 1,005,000,000 | |
Total realized/unrealized gains/(losses) | (81,000,000) | (18,000,000) | (43,000,000) | 12,000,000 | |
Purchases | 68,000,000 | 2,000,000 | 250,000,000 | 345,000,000 | |
Sales | (21,000,000) | (12,000,000) | (186,000,000) | (186,000,000) | |
Settlements | (28,000,000) | (31,000,000) | (102,000,000) | (91,000,000) | |
Transfers into and/or out of level 3 | (53,000,000) | (8,000,000) | (55,000,000) | (27,000,000) | |
Fair value, ending balance | 786,000,000 | 1,058,000,000 | 786,000,000 | 1,058,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (79,000,000) | (18,000,000) | (41,000,000) | 16,000,000 | |
Mortgage-backed securities, Residential - nonagency | |||||
Assets | |||||
Fair value, beginning balance | 123,000,000 | 543,000,000 | 663,000,000 | 726,000,000 | |
Total realized/unrealized gains/(losses) | 64,000,000 | (13,000,000) | 108,000,000 | 78,000,000 | |
Purchases | 25,000,000 | 224,000,000 | 202,000,000 | 597,000,000 | |
Sales | (95,000,000) | (120,000,000) | (558,000,000) | (634,000,000) | |
Settlements | (9,000,000) | (5,000,000) | (19,000,000) | (29,000,000) | |
Transfers into and/or out of level 3 | 11,000,000 | (38,000,000) | (277,000,000) | (147,000,000) | |
Fair value, ending balance | 119,000,000 | 591,000,000 | 119,000,000 | 591,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 8,000,000 | (22,000,000) | 7,000,000 | 5,000,000 | |
Mortgage-backed securities, Commercial - nonagency | |||||
Assets | |||||
Fair value, beginning balance | 138,000,000 | 327,000,000 | 306,000,000 | 432,000,000 | |
Total realized/unrealized gains/(losses) | (3,000,000) | (2,000,000) | (12,000,000) | 26,000,000 | |
Purchases | 5,000,000 | 251,000,000 | 185,000,000 | 832,000,000 | |
Sales | (15,000,000) | (323,000,000) | (215,000,000) | (804,000,000) | |
Settlements | (8,000,000) | (6,000,000) | (22,000,000) | (54,000,000) | |
Transfers into and/or out of level 3 | (88,000,000) | 16,000,000 | (213,000,000) | (169,000,000) | |
Fair value, ending balance | 29,000,000 | 263,000,000 | 29,000,000 | 263,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (4,000,000) | (6,000,000) | (5,000,000) | (5,000,000) | |
Total trading assets – debt and equity instruments | |||||
Assets | |||||
Fair value, beginning balance | 15,941,000,000 | 25,767,000,000 | 22,489,000,000 | 27,206,000,000 | |
Total realized/unrealized gains/(losses) | (139,000,000) | (188,000,000) | 33,000,000 | 1,365,000,000 | |
Purchases | 2,245,000,000 | 7,593,000,000 | 8,304,000,000 | 19,124,000,000 | |
Sales | (1,418,000,000) | (3,331,000,000) | (8,476,000,000) | (11,811,000,000) | |
Settlements | (1,725,000,000) | (1,611,000,000) | (2,973,000,000) | (6,424,000,000) | |
Transfers into and/or out of level 3 | (1,825,000,000) | 140,000,000 | (6,298,000,000) | (1,090,000,000) | |
Fair value, ending balance | 13,079,000,000 | 28,370,000,000 | 13,079,000,000 | 28,370,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (195,000,000) | 39,000,000 | (272,000,000) | 988,000,000 | |
Total available-for-sale securities | |||||
Assets | |||||
Fair value, beginning balance | 875,000,000 | 1,836,000,000 | 1,037,000,000 | 2,322,000,000 | |
Total realized/unrealized gains/(losses) | (27,000,000) | (43,000,000) | (34,000,000) | (56,000,000) | |
Purchases | 0 | 50,000,000 | 49,000,000 | 397,000,000 | |
Sales | 0 | 0 | (43,000,000) | (2,000,000) | |
Settlements | (13,000,000) | (172,000,000) | (75,000,000) | (281,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | (99,000,000) | (709,000,000) | |
Fair value, ending balance | 835,000,000 | 1,671,000,000 | 835,000,000 | 1,671,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (26,000,000) | (26,000,000) | (28,000,000) | (39,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Realized gains/(losses) recorded in income | 0 | (30,000,000) | (7,000,000) | (43,000,000) | |
Unrealized gains/(losses) recorded in OCI | (27,000,000) | (12,000,000) | (27,000,000) | (13,000,000) | |
Available-for-sale securities, Asset-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 862,000,000 | 1,322,000,000 | 908,000,000 | 1,088,000,000 | |
Total realized/unrealized gains/(losses) | (27,000,000) | (25,000,000) | (34,000,000) | (36,000,000) | |
Purchases | 0 | 50,000,000 | 49,000,000 | 275,000,000 | |
Sales | 0 | 0 | (43,000,000) | (2,000,000) | |
Settlements | (5,000,000) | (39,000,000) | (50,000,000) | (80,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 63,000,000 | |
Fair value, ending balance | 830,000,000 | 1,308,000,000 | 830,000,000 | 1,308,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (26,000,000) | (24,000,000) | (28,000,000) | (36,000,000) | |
Available-for-sale securities, Other | |||||
Assets | |||||
Fair value, beginning balance | 13,000,000 | 514,000,000 | 129,000,000 | 1,234,000,000 | |
Total realized/unrealized gains/(losses) | 0 | (18,000,000) | 0 | (20,000,000) | |
Purchases | 0 | 0 | 0 | 122,000,000 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | (8,000,000) | (133,000,000) | (25,000,000) | (201,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | (99,000,000) | (772,000,000) | |
Fair value, ending balance | 5,000,000 | 363,000,000 | 5,000,000 | 363,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | (2,000,000) | 0 | (3,000,000) | |
Loans | |||||
Assets | |||||
Fair value, beginning balance | 2,295,000,000 | 4,227,000,000 | 2,541,000,000 | 1,931,000,000 | |
Total realized/unrealized gains/(losses) | 9,000,000 | (240,000,000) | (111,000,000) | (168,000,000) | |
Purchases | 869,000,000 | 233,000,000 | 1,286,000,000 | 3,313,000,000 | |
Sales | 0 | (89,000,000) | (83,000,000) | (231,000,000) | |
Settlements | (298,000,000) | (589,000,000) | (758,000,000) | (1,303,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 2,875,000,000 | 3,542,000,000 | 2,875,000,000 | 3,542,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 9,000,000 | (241,000,000) | (108,000,000) | (208,000,000) | |
Mortgage servicing rights (MSRs) | |||||
Assets | |||||
Fair value, beginning balance | 7,571,000,000 | 8,347,000,000 | 7,436,000,000 | 9,614,000,000 | |
Total realized/unrealized gains/(losses) | (765,000,000) | (57,000,000) | (550,000,000) | (1,028,000,000) | |
Purchases | 143,000,000 | 151,000,000 | 882,000,000 | 527,000,000 | |
Sales | 0 | 11,000,000 | (375,000,000) | (175,000,000) | |
Settlements | (233,000,000) | (216,000,000) | (677,000,000) | (702,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 6,716,000,000 | 8,236,000,000 | 6,716,000,000 | 8,236,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (765,000,000) | (57,000,000) | (550,000,000) | (1,028,000,000) | |
Other assets, Private equity investments | |||||
Assets | |||||
Fair value, beginning balance | 1,987,000,000 | 4,630,000,000 | 2,225,000,000 | 5,817,000,000 | |
Total realized/unrealized gains/(losses) | (32,000,000) | 147,000,000 | 15,000,000 | 387,000,000 | |
Purchases | 70,000,000 | 4,000,000 | 77,000,000 | 107,000,000 | |
Sales | (267,000,000) | (458,000,000) | (294,000,000) | (1,946,000,000) | |
Settlements | (58,000,000) | 18,000,000 | (174,000,000) | (290,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | (149,000,000) | 266,000,000 | |
Fair value, ending balance | 1,700,000,000 | 4,341,000,000 | 1,700,000,000 | 4,341,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (32,000,000) | 346,000,000 | 0 | 249,000,000 | |
All other | |||||
Assets | |||||
Fair value, beginning balance | 839,000,000 | 1,199,000,000 | 959,000,000 | 1,382,000,000 | |
Total realized/unrealized gains/(losses) | 80,000,000 | 12,000,000 | 90,000,000 | 9,000,000 | |
Purchases | 0 | 2,000,000 | 65,000,000 | 8,000,000 | |
Sales | 0 | 0 | (143,000,000) | (130,000,000) | |
Settlements | (100,000,000) | (38,000,000) | (152,000,000) | (94,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 819,000,000 | 1,175,000,000 | 819,000,000 | 1,175,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 82,000,000 | 12,000,000 | 66,000,000 | 10,000,000 | |
Obligations of U.S. states and municipalities | |||||
Assets | |||||
Fair value, beginning balance | 1,247,000,000 | 1,079,000,000 | 1,273,000,000 | 1,382,000,000 | |
Total realized/unrealized gains/(losses) | (7,000,000) | 158,000,000 | 6,000,000 | 145,000,000 | |
Purchases | 90,000,000 | 1,000,000 | 281,000,000 | 1,000,000 | |
Sales | (23,000,000) | (49,000,000) | (133,000,000) | (339,000,000) | |
Settlements | 0 | 0 | (27,000,000) | 0 | |
Transfers into and/or out of level 3 | (735,000,000) | 0 | (828,000,000) | 0 | |
Fair value, ending balance | 572,000,000 | 1,189,000,000 | 572,000,000 | 1,189,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (8,000,000) | 156,000,000 | (7,000,000) | 14,000,000 | |
Non-U.S. government debt securities | |||||
Assets | |||||
Fair value, beginning balance | 208,000,000 | 128,000,000 | 302,000,000 | 143,000,000 | |
Total realized/unrealized gains/(losses) | 11,000,000 | 7,000,000 | 20,000,000 | 26,000,000 | |
Purchases | 18,000,000 | 88,000,000 | 173,000,000 | 523,000,000 | |
Sales | (7,000,000) | (20,000,000) | (119,000,000) | (539,000,000) | |
Settlements | (1,000,000) | (1,000,000) | (43,000,000) | (3,000,000) | |
Transfers into and/or out of level 3 | (143,000,000) | (67,000,000) | (247,000,000) | (15,000,000) | |
Fair value, ending balance | 86,000,000 | 135,000,000 | 86,000,000 | 135,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 18,000,000 | 6,000,000 | 16,000,000 | 9,000,000 | |
Corporate debt | |||||
Assets | |||||
Fair value, beginning balance | 943,000,000 | 4,793,000,000 | 2,989,000,000 | 5,920,000,000 | |
Total realized/unrealized gains/(losses) | (21,000,000) | (88,000,000) | (71,000,000) | 280,000,000 | |
Purchases | 123,000,000 | 1,280,000,000 | 944,000,000 | 3,640,000,000 | |
Sales | (100,000,000) | (776,000,000) | (909,000,000) | (2,791,000,000) | |
Settlements | (84,000,000) | (72,000,000) | (119,000,000) | (1,736,000,000) | |
Transfers into and/or out of level 3 | (24,000,000) | (75,000,000) | (1,997,000,000) | (251,000,000) | |
Fair value, ending balance | 837,000,000 | 5,062,000,000 | 837,000,000 | 5,062,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (6,000,000) | 168,000,000 | (2,000,000) | 458,000,000 | |
Trading loans | |||||
Assets | |||||
Fair value, beginning balance | 9,563,000,000 | 13,521,000,000 | 13,287,000,000 | 13,455,000,000 | |
Total realized/unrealized gains/(losses) | (73,000,000) | (179,000,000) | (64,000,000) | 512,000,000 | |
Purchases | 945,000,000 | 4,563,000,000 | 2,841,000,000 | 9,850,000,000 | |
Sales | (672,000,000) | (1,476,000,000) | (3,821,000,000) | (4,378,000,000) | |
Settlements | (1,494,000,000) | (1,349,000,000) | (2,313,000,000) | (4,067,000,000) | |
Transfers into and/or out of level 3 | (255,000,000) | 251,000,000 | (1,916,000,000) | (41,000,000) | |
Fair value, ending balance | 8,014,000,000 | 15,331,000,000 | 8,014,000,000 | 15,331,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (104,000,000) | (184,000,000) | (254,000,000) | 297,000,000 | |
Asset-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 1,539,000,000 | 1,216,000,000 | 1,264,000,000 | 1,272,000,000 | |
Total realized/unrealized gains/(losses) | (15,000,000) | (21,000,000) | (31,000,000) | 49,000,000 | |
Purchases | 485,000,000 | 564,000,000 | 1,781,000,000 | 1,921,000,000 | |
Sales | (207,000,000) | (477,000,000) | (1,099,000,000) | (1,809,000,000) | |
Settlements | (10,000,000) | (88,000,000) | (4,000,000) | (259,000,000) | |
Transfers into and/or out of level 3 | 14,000,000 | 26,000,000 | (105,000,000) | 46,000,000 | |
Fair value, ending balance | 1,806,000,000 | 1,220,000,000 | 1,806,000,000 | 1,220,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (14,000,000) | (27,000,000) | (19,000,000) | (19,000,000) | |
Debt securities | |||||
Assets | |||||
Fair value, beginning balance | 14,662,000,000 | 22,732,000,000 | 21,006,000,000 | 24,335,000,000 | |
Total realized/unrealized gains/(losses) | (125,000,000) | (156,000,000) | (87,000,000) | 1,128,000,000 | |
Purchases | 1,759,000,000 | 6,973,000,000 | 6,657,000,000 | 17,709,000,000 | |
Sales | (1,140,000,000) | (3,253,000,000) | (7,040,000,000) | (11,480,000,000) | |
Settlements | (1,634,000,000) | (1,552,000,000) | (2,649,000,000) | (6,239,000,000) | |
Transfers into and/or out of level 3 | (1,273,000,000) | 105,000,000 | (5,638,000,000) | (604,000,000) | |
Fair value, ending balance | 12,249,000,000 | 24,849,000,000 | 12,249,000,000 | 24,849,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (189,000,000) | 73,000,000 | (305,000,000) | 775,000,000 | |
Equity securities | |||||
Assets | |||||
Fair value, beginning balance | 310,000,000 | 691,000,000 | 431,000,000 | 867,000,000 | |
Total realized/unrealized gains/(losses) | 9,000,000 | 22,000,000 | 55,000,000 | 122,000,000 | |
Purchases | 26,000,000 | 140,000,000 | 76,000,000 | 225,000,000 | |
Sales | (15,000,000) | (12,000,000) | (138,000,000) | (87,000,000) | |
Settlements | (2,000,000) | (42,000,000) | (19,000,000) | (72,000,000) | |
Transfers into and/or out of level 3 | 7,000,000 | 35,000,000 | (70,000,000) | (221,000,000) | |
Fair value, ending balance | 335,000,000 | 834,000,000 | 335,000,000 | 834,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 9,000,000 | 19,000,000 | 58,000,000 | 92,000,000 | |
Physical commodities | |||||
Assets | |||||
Fair value, beginning balance | 3,000,000 | 4,000,000 | |||
Total realized/unrealized gains/(losses) | (1,000,000) | (1,000,000) | |||
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 | 2,000,000 | 2,000,000 | |||
Change in unrealized gains/(losses) related to financial instruments held | 0 | (1,000,000) | |||
Other | |||||
Assets | |||||
Fair value, beginning balance | 969,000,000 | 2,341,000,000 | 1,052,000,000 | 2,000,000,000 | |
Total realized/unrealized gains/(losses) | (23,000,000) | (53,000,000) | 65,000,000 | 116,000,000 | |
Purchases | 460,000,000 | 480,000,000 | 1,571,000,000 | 1,190,000,000 | |
Sales | (263,000,000) | (66,000,000) | (1,298,000,000) | (244,000,000) | |
Settlements | (89,000,000) | (17,000,000) | (305,000,000) | (112,000,000) | |
Transfers into and/or out of level 3 | (559,000,000) | 0 | (590,000,000) | (265,000,000) | |
Fair value, ending balance | 495,000,000 | 2,685,000,000 | 495,000,000 | 2,685,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | $ (15,000,000) | $ (53,000,000) | $ (25,000,000) | $ 122,000,000 |
Fair value measurement - Leve60
Fair value measurement - Level 3 Analysis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Percentage of level 3 assets in total Firm assets | 1.50% | 1.50% | |||
Total realized/unrealized gains/(losses) | $ (208) | $ 196 | $ (603) | ||
Liability | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | $ (1,200) | ||||
Liabilities, total realized/unrealized gains/(losses) | 533 | ||||
Trading assets, debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets, total realized/unrealized gains/(losses) | (1,000) | ||||
Derivative receivables | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (2,300) | 1,738 | |||
Mortgage servicing rights (MSRs) | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Change in realized/unrealized gains/(losses) | (765) | (57) | (550) | (1,028) | |
Assets, total realized/unrealized gains/(losses) | (765) | (57) | (550) | $ (1,028) | |
Total assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets, total realized/unrealized gains/(losses) | $ (173) | ||||
Level 3 | Liability | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (807) | ||||
Level 3 | Derivative receivables | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (3,700) | ||||
Level 3 | Total assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (1,100) | ||||
Recurring | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 662,183 | 662,183 | $ 747,731 | ||
Recurring | Level 3 | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 34,902 | 34,902 | $ 49,252 | ||
Increase (decrease) in level 3 assets | (5,800) | (14,400) | |||
Recurring | Level 3 | Trading assets, debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Increase (decrease) in level 3 assets | $ (2,900) | $ (9,400) |
Fair value measurement - Credit
Fair value measurement - Credit Adjustments Reflected on Balance Sheet (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Credit adjustments [Abstract] | ||
Derivative receivables balance | $ 68,668 | $ 78,975 |
Derivative payables, net | 57,140 | 71,116 |
Derivative CVA | (2,279) | (2,674) |
Derivatives and Structured notes DVA and FVA | (437) | (380) |
Structured notes balance | 51,887 | 53,772 |
Derivatives DVA | 822 | 714 |
Plain Vanilla Financial Instruments | ||
Credit adjustments [Abstract] | ||
Structured notes | 1,700 | 943 |
Structured Finance | ||
Credit adjustments [Abstract] | ||
Derivatives and Structured notes DVA and FVA | 2,355 | 1,152 |
Derivatives DVA | $ 1,900 | $ 1,400 |
Fair value measurement - Impact
Fair value measurement - Impact of Credit Adjustments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivatives CVA | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | $ (127) | $ (57) | $ 395 | $ 196 |
DVA and FVA | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | (121) | 144 | (58) | (17) |
Structured note credit adjustments | 552 | 161 | 1,203 | 340 |
DVA | ||||
Impact of credit adjustments on earnings [Abstract] | ||||
Derivative credit adjustments | 51 | 68 | 108 | (27) |
Structured note credit adjustments | $ 169 | $ 190 | $ 492 | $ 209 |
Fair value measurement - Nonrec
Fair value measurement - Nonrecurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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) | $ (66) | $ (280) | $ (170) | $ (709) | |
Credit card loans | Credit Card | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Transfers from level 3 into level 2 | 1,300 | $ 1,300 | |||
Residential real estate | Broker price opinions | Minimum | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 5.00% | ||||
Residential real estate | Broker price opinions | Maximum | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 59.00% | ||||
Residential real estate | Broker price opinions | Weighted average | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value inputs, liquidation value discount | 21.00% | ||||
Nonrecurring | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 2,300 | $ 2,300 | $ 2,600 | ||
Nonrecurring | Level 2 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 1,500 | 102 | 1,500 | 102 | |
Nonrecurring | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | 867 | $ 2,500 | 867 | $ 2,500 | |
Nonrecurring | Level 3 | Residential real estate | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets, fair value, nonrecurring | $ 528 | $ 528 |
Fair value measurement - Carryi
Fair value measurement - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financial assets | ||||
Cash and due from banks | $ 21,258 | $ 27,831 | $ 25,372 | $ 39,771 |
Deposits with banks | 376,196 | 484,477 | ||
Federal funds sold and securities purchased under resale agreements | 218,467 | 215,803 | ||
Securities, held-to-maturity | 51,845 | 51,154 | ||
Financial liabilities | ||||
Commercial paper | 19,656 | 66,344 | ||
Beneficial interests issued by consolidated VIEs | 48,733 | 52,362 | ||
Carrying value | ||||
Financial assets | ||||
Cash and due from banks | 21,300 | 27,800 | ||
Deposits with banks | 376,200 | 484,500 | ||
Accrued interest and accounts receivable | 57,900 | 70,100 | ||
Federal funds sold and securities purchased under resale agreements | 191,100 | 187,200 | ||
Securities borrowed | 105,300 | 109,400 | ||
Securities, held-to-maturity | 50,200 | 49,300 | ||
Loans, net of allowance for loan losses | 792,900 | 740,500 | ||
Other | 66,700 | 64,700 | ||
Financial liabilities | ||||
Deposits | 1,262,000 | 1,354,600 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 176,700 | 189,100 | ||
Commercial paper | 19,700 | 66,300 | ||
Other borrowed funds | 17,500 | 15,500 | ||
Accounts payable and other liabilities | 152,200 | 172,600 | ||
Beneficial interests issued by consolidated VIEs | 47,500 | 50,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 261,700 | 246,600 | ||
Wholesale lending-related commitments | 700 | 600 | ||
Estimated fair value hierarchy | ||||
Financial assets | ||||
Cash and due from banks | 21,300 | 27,800 | ||
Deposits with banks | 376,200 | 484,500 | ||
Accrued interest and accounts receivable | 57,900 | 70,100 | ||
Federal funds sold and securities purchased under resale agreements | 191,100 | 187,200 | ||
Securities borrowed | 105,300 | 109,400 | ||
Securities, held-to-maturity | 51,800 | 51,200 | ||
Loans, net of allowance for loan losses | 797,600 | 744,900 | ||
Other | 71,300 | 69,000 | ||
Financial liabilities | ||||
Deposits | 1,262,200 | 1,354,800 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 176,700 | 189,100 | ||
Commercial paper | 19,700 | 66,300 | ||
Other borrowed funds | 17,500 | 15,500 | ||
Accounts payable and other liabilities | 152,000 | 172,500 | ||
Beneficial interests issued by consolidated VIEs | 47,500 | 50,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 267,800 | 255,400 | ||
Wholesale lending-related commitments | 2,600 | 1,600 | ||
Estimated fair value hierarchy | Level 1 | ||||
Financial assets | ||||
Cash and due from banks | 21,300 | 27,800 | ||
Deposits with banks | 372,000 | 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 | 100 | 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 | ||
Estimated fair value hierarchy | Level 2 | ||||
Financial assets | ||||
Cash and due from banks | 0 | 0 | ||
Deposits with banks | 4,200 | 4,100 | ||
Accrued interest and accounts receivable | 57,700 | 70,000 | ||
Federal funds sold and securities purchased under resale agreements | 191,100 | 187,200 | ||
Securities borrowed | 105,300 | 109,400 | ||
Securities, held-to-maturity | 51,800 | 51,200 | ||
Loans, net of allowance for loan losses | 20,700 | 21,800 | ||
Other | 57,700 | 55,700 | ||
Financial liabilities | ||||
Deposits | 1,261,000 | 1,353,600 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 176,700 | 189,100 | ||
Commercial paper | 19,700 | 66,300 | ||
Other borrowed funds | 17,500 | 15,500 | ||
Accounts payable and other liabilities | 149,500 | 169,600 | ||
Beneficial interests issued by consolidated VIEs | 45,700 | 48,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 263,800 | 251,600 | ||
Wholesale lending-related commitments | 0 | 0 | ||
Estimated fair value hierarchy | 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 | 776,900 | 723,100 | ||
Other | 13,500 | 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 | 2,500 | 2,900 | ||
Beneficial interests issued by consolidated VIEs | 1,800 | 2,000 | ||
Long-term debt and junior subordinated deferrable interest debentures | 4,000 | 3,800 | ||
Wholesale lending-related commitments | $ 2,600 | $ 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 | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | $ (66) | $ (280) | $ (170) | $ (709) |
DVA | ||||
Changes in fair value under the fair value option election | ||||
Structured note credit adjustments | 169 | 190 | 492 | 209 |
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) | 63 | (114) | 37 | (58) |
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) | 63 | (114) | 37 | (58) |
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) | (1) | (3) | (5) | (8) |
Securities borrowed | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (1) | (3) | (5) | (8) |
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) | (144) | 21 | 376 | 497 |
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) | (144) | 20 | 375 | 495 |
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) | 0 | 1 | 1 | 2 |
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) | 17 | 150 | 241 | 916 |
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) | 12 | 140 | 223 | 894 |
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) | 5 | 10 | 18 | 22 |
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) | 371 | 347 | 863 | 1,141 |
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) | 94 | 98 | 206 | 200 |
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) | 277 | 249 | 657 | 941 |
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) | 31 | 3 | 32 | 31 |
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) | 31 | 3 | 32 | 31 |
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) | 2 | (2) | 2 | 29 |
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) | 2 | (2) | 2 | 29 |
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) | 54 | 27 | 125 | (103) |
Other assets | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 54 | 6 | 116 | 18 |
Other assets | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 21 | 9 | (121) |
Deposits | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (112) | 117 | (75) | (94) |
Deposits | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (112) | 117 | (75) | (94) |
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) | (14) | 15 | (5) | (19) |
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) | (14) | 15 | (5) | (19) |
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) | 2,015 | (56) | 2,121 | (1,227) |
Other borrowed funds | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 2,015 | (56) | 2,121 | (1,227) |
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) | (6) | (2) | (20) | (11) |
Trading liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (6) | (2) | (20) | (11) |
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) | 29 | (54) | 73 | (191) |
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) | 29 | (54) | 73 | (191) |
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 | 0 | 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 | 0 | 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) | 299 | 162 | 624 | 167 |
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) | 299 | 162 | 624 | 167 |
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) | 1,116 | 170 | 1,466 | (621) |
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) | 1,116 | 170 | 1,466 | (621) |
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 ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Long-term beneficial interests | ||
Performing loans, ninety days or more past due | $ 0 | $ 0 |
Other guarantees and commitments | ||
Long-term beneficial interests | ||
Contractual amount of letters of credit | 6,810,000,000 | 5,720,000,000 |
Contractual letters of credit, fair value | 101,000,000 | 121,000,000 |
Letters of credit which fair value option was elected | Other guarantees and commitments | ||
Long-term beneficial interests | ||
Contractual amount of letters of credit | 4,400,000,000 | 4,500,000,000 |
Contractual letters of credit, fair value | (101,000,000) | (147,000,000) |
Contractual principal outstanding | ||
Loans | ||
Nonaccrual loans | 4,055,000,000 | 3,854,000,000 |
Total loans | 41,808,000,000 | 43,859,000,000 |
Contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 4,048,000,000 | 3,847,000,000 |
All other performing loans | 34,765,000,000 | 37,608,000,000 |
Contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 2,988,000,000 | 2,397,000,000 |
Contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 16,753,000,000 | 14,660,000,000 |
Fair value | ||
Loans | ||
Nonaccrual loans | 1,074,000,000 | 912,000,000 |
Total loans | 36,797,000,000 | 38,763,000,000 |
Long-term debt | ||
Long-term debt | 31,160,000,000 | 30,226,000,000 |
Long-term beneficial interests | ||
Long-term beneficial interests | 1,199,000,000 | 2,162,000,000 |
Fair value | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 1,067,000,000 | 905,000,000 |
All other performing loans | 32,756,000,000 | 35,462,000,000 |
Fair value | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 2,967,000,000 | 2,389,000,000 |
Fair value | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 15,520,000,000 | 15,484,000,000 |
Fair value | Nonprincipal-protected debt | ||
Long-term debt | ||
Long-term debt | 15,640,000,000 | 14,742,000,000 |
Long-term beneficial interests | ||
Long-term beneficial interests | 1,199,000,000 | 2,162,000,000 |
Fair value over/(under) contractual principal outstanding | ||
Loans | ||
Nonaccrual loans | (2,981,000,000) | (2,942,000,000) |
Total loans | (5,011,000,000) | (5,096,000,000) |
Fair value over/(under) contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | (2,981,000,000) | (2,942,000,000) |
All other performing loans | (2,009,000,000) | (2,146,000,000) |
Fair value over/(under) contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans | 0 | 0 |
All other performing loans | (21,000,000) | (8,000,000) |
Fair value over/(under) contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | $ (1,233,000,000) | $ 824,000,000 |
Fair value option - Structured
Fair value option - Structured note products by balance sheet classification and risk component (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 50,235 | $ 52,829 |
Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 15,318 | 13,437 |
Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,351 | 4,473 |
Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 2,014 | 2,378 |
Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 26,683 | 29,175 |
Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 2,869 | 3,366 |
Long-term debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 30,534 | 30,089 |
Long-term debt | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 11,506 | 10,858 |
Long-term debt | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,256 | 4,023 |
Long-term debt | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 1,853 | 2,150 |
Long-term debt | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 13,086 | 12,348 |
Long-term debt | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 833 | 710 |
Other borrowed funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 8,899 | 14,177 |
Other borrowed funds | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 50 | 460 |
Other borrowed funds | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 95 | 450 |
Other borrowed funds | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 150 | 211 |
Other borrowed funds | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 8,523 | 12,412 |
Other borrowed funds | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 81 | 644 |
Deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 10,802 | 8,563 |
Deposits | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,762 | 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 | 11 | 17 |
Deposits | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 5,074 | 4,415 |
Deposits | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 1,955 | $ 2,012 |
Derivative instruments - Notion
Derivative instruments - Notional Amount of Derivative Contracts (Details) - USD ($) $ in Billions | Sep. 30, 2015 | Dec. 31, 2014 |
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 52,018 | $ 63,662 |
Interest rate contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 37,294 | 48,085 |
Interest rate swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 24,058 | 29,734 |
Interest rate futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 5,377 | 10,189 |
Interest rate options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,689 | 3,903 |
Interest rate options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 4,170 | 4,259 |
Credit derivatives | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,503 | 4,249 |
Foreign exchange contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 9,527 | 9,585 |
Foreign exchange cross-currency swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,052 | 3,346 |
Foreign exchange spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 4,976 | 4,669 |
Foreign exchange options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 759 | 790 |
Foreign exchange options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 740 | 780 |
Equity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 1,117 | 1,063 |
Equity swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 227 | 206 |
Equity futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 45 | 50 |
Equity options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 457 | 432 |
Equity options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 388 | 375 |
Commodity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 577 | 680 |
Commodity swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 103 | 126 |
Commodity spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 132 | 193 |
Commodity options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 172 | 181 |
Commodity options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 170 | $ 180 |
Derivative instruments - Impact
Derivative instruments - Impact on Balance Sheet (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | $ 1,055,096 | $ 1,328,428 |
Net derivative receivables | 68,668 | 78,975 |
Gross derivative payables | 1,037,512 | 1,310,773 |
Net derivative payables | 57,140 | 71,116 |
Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 738,951 | 950,257 |
Net derivative receivables | 29,116 | 33,725 |
Gross derivative payables | 701,839 | 918,379 |
Net derivative payables | 10,725 | 17,745 |
Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 54,409 | 76,842 |
Net derivative receivables | 1,724 | 1,838 |
Gross derivative payables | 53,111 | 75,895 |
Net derivative payables | 1,646 | 1,593 |
Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 186,549 | 215,187 |
Net derivative receivables | 21,116 | 21,253 |
Gross derivative payables | 202,453 | 224,614 |
Net derivative payables | 22,044 | 22,970 |
Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 46,727 | 42,489 |
Net derivative receivables | 7,490 | 8,177 |
Gross derivative payables | 47,549 | 46,262 |
Net derivative payables | 9,006 | 11,740 |
Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 28,460 | 43,653 |
Net derivative receivables | 9,222 | 13,982 |
Gross derivative payables | 32,560 | 45,623 |
Net derivative payables | 13,719 | 17,068 |
Not designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 1,047,512 | 1,318,904 |
Gross derivative payables | 1,033,548 | 1,306,968 |
Not designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 733,909 | 944,885 |
Gross derivative payables | 699,048 | 915,368 |
Not designated as hedges | Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 54,409 | 76,842 |
Gross derivative payables | 53,111 | 75,895 |
Not designated as hedges | Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 185,015 | 211,537 |
Gross derivative payables | 201,298 | 223,988 |
Not designated as hedges | Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 46,727 | 42,489 |
Gross derivative payables | 47,549 | 46,262 |
Not designated as hedges | Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 27,452 | 43,151 |
Gross derivative payables | 32,542 | 45,455 |
Designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 7,584 | 9,524 |
Gross derivative payables | 3,964 | 3,805 |
Designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 5,042 | 5,372 |
Gross derivative payables | 2,791 | 3,011 |
Designated as hedges | Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 1,534 | 3,650 |
Gross derivative payables | 1,155 | 626 |
Designated as hedges | Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 1,008 | 502 |
Gross derivative payables | $ 18 | $ 168 |
Derivative instruments - Deriva
Derivative instruments - Derivatives Netting (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | $ 1,038,106 | $ 1,307,711 |
Amounts netted on the Consolidated balance sheets | (986,428) | (1,249,453) |
Net derivative receivables | 51,678 | 58,258 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 16,990 | 20,717 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 1,055,096 | 1,328,428 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 68,668 | 78,975 |
Net cash collateral payables | 74,300 | 74,000 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 1,024,161 | 1,291,703 |
Amounts netted on the Consolidated balance sheets | (980,372) | (1,239,657) |
Net derivative payables | 43,789 | 52,046 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 13,351 | 19,070 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 1,037,512 | 1,310,773 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 57,140 | 71,116 |
Netted cash collateral receivables | 68,200 | 64,200 |
Interest rate contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 732,425 | 943,763 |
Amounts netted on the Consolidated balance sheets | (709,835) | (916,532) |
Net derivative receivables | 22,590 | 27,231 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 738,951 | 950,257 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 29,116 | 33,725 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 700,542 | 914,422 |
Amounts netted on the Consolidated balance sheets | (691,114) | (900,634) |
Net derivative payables | 9,428 | 13,788 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 701,839 | 918,379 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 10,725 | 17,745 |
Interest rate contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 455,022 | 542,107 |
Amounts netted on the Consolidated balance sheets | (432,456) | (514,914) |
Net derivative receivables | 22,566 | 27,193 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 431,744 | 515,904 |
Amounts netted on the Consolidated balance sheets | (422,367) | (503,384) |
Net derivative payables | 9,377 | 12,520 |
Interest rate contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 277,403 | 401,656 |
Amounts netted on the Consolidated balance sheets | (277,379) | (401,618) |
Net derivative receivables | 24 | 38 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 268,798 | 398,518 |
Amounts netted on the Consolidated balance sheets | (268,747) | (397,250) |
Net derivative payables | 51 | 1,268 |
Interest rate contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative payables | 0 | 0 |
Credit contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 52,759 | 75,956 |
Amounts netted on the Consolidated balance sheets | (52,685) | (75,004) |
Net derivative receivables | 74 | 952 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 54,409 | 76,842 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 1,724 | 1,838 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 52,680 | 74,830 |
Amounts netted on the Consolidated balance sheets | (51,465) | (74,302) |
Net derivative payables | 1,215 | 528 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 53,111 | 75,895 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 1,646 | 1,593 |
Credit contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 44,739 | 66,636 |
Amounts netted on the Consolidated balance sheets | (44,680) | (65,720) |
Net derivative receivables | 59 | 916 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 45,435 | 65,432 |
Amounts netted on the Consolidated balance sheets | (44,220) | (64,904) |
Net derivative payables | 1,215 | 528 |
Credit contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 8,020 | 9,320 |
Amounts netted on the Consolidated balance sheets | (8,005) | (9,284) |
Net derivative receivables | 15 | 36 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 7,245 | 9,398 |
Amounts netted on the Consolidated balance sheets | (7,245) | (9,398) |
Net derivative payables | 0 | 0 |
Foreign exchange contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 181,380 | 208,839 |
Amounts netted on the Consolidated balance sheets | (165,433) | (193,934) |
Net derivative receivables | 15,947 | 14,905 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 186,549 | 215,187 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 21,116 | 21,253 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 197,124 | 218,064 |
Amounts netted on the Consolidated balance sheets | (180,409) | (201,644) |
Net derivative payables | 16,715 | 16,420 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 202,453 | 224,614 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 22,044 | 22,970 |
Foreign exchange contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 181,104 | 208,803 |
Amounts netted on the Consolidated balance sheets | (165,157) | (193,900) |
Net derivative receivables | 15,947 | 14,903 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 196,762 | 217,998 |
Amounts netted on the Consolidated balance sheets | (180,048) | (201,578) |
Net derivative payables | 16,714 | 16,420 |
Foreign exchange contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 276 | 36 |
Amounts netted on the Consolidated balance sheets | (276) | (34) |
Net derivative receivables | 0 | 2 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 362 | 66 |
Amounts netted on the Consolidated balance sheets | (361) | (66) |
Net derivative payables | 1 | 0 |
Foreign exchange contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative payables | 0 | 0 |
Equity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 44,088 | 37,098 |
Amounts netted on the Consolidated balance sheets | (39,237) | (34,312) |
Net derivative receivables | 4,851 | 2,786 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 46,727 | 42,489 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 7,490 | 8,177 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 43,670 | 40,772 |
Amounts netted on the Consolidated balance sheets | (38,543) | (34,522) |
Net derivative payables | 5,127 | 6,250 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 47,549 | 46,262 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 9,006 | 11,740 |
Equity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 26,509 | 23,258 |
Amounts netted on the Consolidated balance sheets | (25,732) | (22,826) |
Net derivative receivables | 777 | 432 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 28,605 | 27,908 |
Amounts netted on the Consolidated balance sheets | (25,038) | (23,036) |
Net derivative payables | 3,567 | 4,872 |
Equity contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative payables | 0 | 0 |
Equity contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 17,579 | 13,840 |
Amounts netted on the Consolidated balance sheets | (13,505) | (11,486) |
Net derivative receivables | 4,074 | 2,354 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 15,065 | 12,864 |
Amounts netted on the Consolidated balance sheets | (13,505) | (11,486) |
Net derivative payables | 1,560 | 1,378 |
Commodity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 27,454 | 42,055 |
Amounts netted on the Consolidated balance sheets | (19,238) | (29,671) |
Net derivative receivables | 8,216 | 12,384 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 28,460 | 43,653 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 9,222 | 13,982 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 30,145 | 43,615 |
Amounts netted on the Consolidated balance sheets | (18,841) | (28,555) |
Net derivative payables | 11,304 | 15,060 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 32,560 | 45,623 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 13,719 | 17,068 |
Commodity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 14,610 | 22,555 |
Amounts netted on the Consolidated balance sheets | (6,644) | (14,327) |
Net derivative receivables | 7,966 | 8,228 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 17,490 | 25,129 |
Amounts netted on the Consolidated balance sheets | (6,247) | (13,211) |
Net derivative payables | 11,243 | 11,918 |
Commodity contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative receivables | 0 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 0 | 0 |
Amounts netted on the Consolidated balance sheets | 0 | 0 |
Net derivative payables | 0 | 0 |
Commodity contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 12,844 | 19,500 |
Amounts netted on the Consolidated balance sheets | (12,594) | (15,344) |
Net derivative receivables | 250 | 4,156 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 12,655 | 18,486 |
Amounts netted on the Consolidated balance sheets | (12,594) | (15,344) |
Net derivative payables | $ 61 | $ 3,142 |
Derivative instruments - Deri71
Derivative instruments - Derivatives Collateral (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative receivable collateral: | ||
Derivative receivables with appropriate legal opinion, Net derivative receivables | $ 51,678 | $ 58,258 |
Derivative receivables with appropriate legal opinions, Collateral not nettable on the Consolidated balance sheets | (15,706) | (16,194) |
Derivative receivables with appropriate legal opinions, Net exposure | 35,972 | 42,064 |
Derivative payable collateral: | ||
Derivative payables with appropriate legal opinions, Net derivative payables | 43,789 | 52,046 |
Derivative payables with appropriate legal opinions, Collateral not nettable on the Consolidated balance sheets | (8,424) | (10,505) |
Derivative payables with appropriate legal opinions, Net amount | $ 35,365 | $ 41,541 |
Derivative instruments - Liquid
Derivative instruments - Liquidity Risk and Credit-Related Contingent Features (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Aggregate fair value of net derivative payables | $ 24,822 | $ 32,303 |
Collateral posted | 22,858 | 27,585 |
Single-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 895 | 1,046 |
Amount required to settle contracts with termination triggers upon downgrade | 287 | 366 |
Two-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 3,164 | 3,331 |
Amount required to settle contracts with termination triggers upon downgrade | $ 1,141 | $ 1,388 |
Derivative instruments - Impa73
Derivative instruments - Impact on Statements of Income, Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Gains/(losses) recorded in income | ||||
Derivatives | $ 2,613 | $ 6,006 | $ 6,599 | $ 6,160 |
Hedged items | (2,340) | (5,637) | (5,844) | (5,160) |
Total income statement impact | 273 | 369 | 755 | 1,000 |
Income statement impact due to: | ||||
Hedge ineffectiveness | 5 | 37 | (8) | 137 |
Excluded components | 268 | 332 | 763 | 863 |
Interest rate | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 1,298 | (286) | 363 | 1,035 |
Hedged items | (1,071) | 651 | 390 | (17) |
Total income statement impact | 227 | 365 | 753 | 1,018 |
Income statement impact due to: | ||||
Hedge ineffectiveness | 8 | 27 | 6 | 99 |
Excluded components | 219 | 338 | 747 | 919 |
Foreign exchange | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 1,012 | 6,008 | 5,369 | 5,222 |
Hedged items | (998) | (6,052) | (5,360) | (5,421) |
Total income statement impact | 14 | (44) | 9 | (199) |
Income statement impact due to: | ||||
Hedge ineffectiveness | 0 | 0 | 0 | 0 |
Excluded components | 14 | (44) | 9 | (199) |
Commodity | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 303 | 284 | 867 | (97) |
Hedged items | (271) | (236) | (874) | 278 |
Total income statement impact | 32 | 48 | (7) | 181 |
Income statement impact due to: | ||||
Hedge ineffectiveness | (3) | 10 | (14) | 38 |
Excluded components | $ 35 | $ 38 | $ 7 | $ 143 |
Derivative instruments - Impa74
Derivative instruments - Impact on Statements of Income, Cash Flow Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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 | $ 11 | ||||
Terminated Cash Flows | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Maximum length of time hedged in forecasted transactions | 8 years | ||||
Open Cash Flow Hedges | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Maximum length of time hedged in forecasted transactions | 2 years | ||||
Cash Flow Hedging | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | $ (5) | $ 31 | $ (187) | $ 33 | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (5) | 31 | (187) | 33 | |
Derivatives – effective portion recorded in OCI | (175) | (66) | (104) | 149 | |
Total change in OCI for period | (170) | (97) | 83 | 116 | |
Cash Flow Hedging | Interest rate | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | 14 | (12) | (113) | (48) | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | 14 | (12) | (113) | (48) | |
Derivatives – effective portion recorded in OCI | (70) | 26 | (90) | 160 | |
Total change in OCI for period | (84) | 38 | 23 | 208 | |
Cash Flow Hedging | Foreign exchange | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | (19) | 43 | (74) | 81 | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (19) | 43 | (74) | 81 | |
Derivatives – effective portion recorded in OCI | (105) | (92) | (14) | (11) | |
Total change in OCI for period | $ (86) | $ (135) | $ 60 | $ (92) |
Derivative instruments - Impa75
Derivative instruments - Impact on Statements of Income, Net Investment Hedges (Details) - Net Investment Hedging - Foreign exchange - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net investment hedge gains and losses [Abstract] | ||||
Excluded components recorded directly in income | $ (103) | $ (114) | $ (292) | $ (341) |
Effective portion recorded in OCI | $ 908 | $ 1,185 | $ 1,651 | $ 823 |
Derivative instruments - Impa76
Derivative instruments - Impact on Statements of Income, Risk Management Derivatives (Details) - Risk Management Activities - Not designated as hedges - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 767 | $ 336 | $ 845 | $ 1,561 |
Interest rate | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | 665 | 321 | 785 | 1,428 |
Credit | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | 76 | 1 | 52 | (40) |
Foreign exchange | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | 26 | (2) | 21 | (5) |
Commodity | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 0 | $ 16 | $ (13) | $ 178 |
Derivative instruments - Credit
Derivative instruments - Credit Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Total credit derivatives and credit-related notes | ||
Protection sold | $ (1,728,245) | $ (2,100,303) |
Protection purchased with identical underlyings | 1,741,678 | 2,110,144 |
Net protection (sold)/purchased | 13,433 | 9,841 |
Other protection purchased | 37,146 | 41,810 |
Total credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,728,223) | (2,100,263) |
Protection purchased with identical underlyings | 1,741,678 | 2,110,144 |
Net protection (sold)/purchased | 13,455 | 9,881 |
Other protection purchased | 32,789 | 38,106 |
Credit default swaps | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,683,730) | (2,056,982) |
Protection purchased with identical underlyings | 1,699,718 | 2,078,096 |
Net protection (sold)/purchased | 15,988 | 21,114 |
Other protection purchased | 14,572 | 18,631 |
Other credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (44,493) | (43,281) |
Protection purchased with identical underlyings | 41,960 | 32,048 |
Net protection (sold)/purchased | (2,533) | (11,233) |
Other protection purchased | 18,217 | 19,475 |
Credit-related notes | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (22) | (40) |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | (22) | (40) |
Other protection purchased | $ 4,357 | $ 3,704 |
Derivative instruments - Cred78
Derivative instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details) - USD ($) $ in Millions | Sep. 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 1 year | $ (397,460) | $ (480,679) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (1,189,282) | (1,515,091) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (141,503) | (104,533) |
Total notional amount | (1,728,245) | (2,100,303) |
Fair value of receivables | 28,316 | 46,444 |
Fair value of payables | (24,708) | (28,769) |
Net fair value | 3,608 | 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 1 year | (278,173) | (323,398) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (881,329) | (1,118,293) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (101,523) | (79,486) |
Total notional amount | (1,261,025) | (1,521,177) |
Fair value of receivables | 15,057 | 25,767 |
Fair value of payables | (6,870) | (6,314) |
Net fair value | 8,187 | 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 1 year | (119,287) | (157,281) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (307,953) | (396,798) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (39,980) | (25,047) |
Total notional amount | (467,220) | (579,126) |
Fair value of receivables | 13,259 | 20,677 |
Fair value of payables | (17,838) | (22,455) |
Net fair value | $ (4,579) | $ (1,778) |
Noninterest revenue (Details)
Noninterest revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Components of investment banking fees [Abstract] | ||||
Underwriting | $ 1,112 | $ 1,124 | $ 3,729 | $ 3,513 |
Advisory | 492 | 414 | 1,502 | 1,196 |
Total investment banking fees | 1,604 | 1,538 | 5,231 | 4,709 |
Principal transactions revenue | ||||
Trading revenue | 2,368 | 2,641 | 8,665 | 8,218 |
Private equity gains | (1) | 325 | 191 | 978 |
Principal transactions | 2,367 | 2,966 | 8,856 | 9,196 |
Asset management: | ||||
Investment management fees | 2,327 | 2,311 | 7,017 | 6,667 |
All other asset management fees | 92 | 120 | 290 | 374 |
Asset Management Fees | 2,419 | 2,431 | 7,307 | 7,041 |
Total administration fees | 486 | 536 | 1,520 | 1,627 |
Commission and other fees: | ||||
Brokerage commissions | 575 | 567 | 1,761 | 1,766 |
All other commissions and fees | 365 | 444 | 1,079 | 1,387 |
Total commissions and fees | 940 | 1,011 | 2,840 | 3,153 |
Total asset management, administration and commissions | 3,845 | 3,978 | 11,667 | 11,821 |
Operating lease income | 536 | 433 | 1,509 | 1,252 |
Interest rate | ||||
Principal transactions revenue | ||||
Trading revenue | 530 | 655 | 1,836 | 1,636 |
Credit | ||||
Principal transactions revenue | ||||
Trading revenue | 438 | 556 | 1,477 | 1,685 |
Foreign exchange | ||||
Principal transactions revenue | ||||
Trading revenue | 607 | 381 | 2,014 | 1,249 |
Equity | ||||
Principal transactions revenue | ||||
Trading revenue | 637 | 638 | 2,593 | 2,202 |
Commodity | ||||
Principal transactions revenue | ||||
Trading revenue | 156 | 411 | 745 | 1,446 |
Equity securities | ||||
Components of investment banking fees [Abstract] | ||||
Underwriting | 257 | 414 | 1,108 | 1,244 |
Debt securities | ||||
Components of investment banking fees [Abstract] | ||||
Underwriting | $ 855 | $ 710 | $ 2,621 | $ 2,269 |
Interest income and interest 80
Interest income and interest expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income | ||||
Loans | $ 8,433 | $ 8,060 | $ 24,459 | $ 24,138 |
Taxable securities | 1,553 | 1,903 | 4,885 | 5,743 |
Non-taxable securities | 439 | 387 | 1,260 | 1,041 |
Total securities | 1,992 | 2,290 | 6,145 | 6,784 |
Trading assets | 1,538 | 1,855 | 5,008 | 5,453 |
Federal funds sold and securities purchased under resale agreements | 431 | 400 | 1,167 | 1,234 |
Securities borrowed | (118) | (150) | (397) | (369) |
Deposits with banks | 291 | 300 | 944 | 835 |
Other assets | 172 | 171 | 492 | 505 |
Total interest income | 12,739 | 12,926 | 37,818 | 38,580 |
Interest expense | ||||
Interest-bearing deposits | 293 | 399 | 965 | 1,242 |
Short-term and other liabilities | 315 | 238 | 991 | 1,121 |
Long-term debt | 1,092 | 1,084 | 3,254 | 3,337 |
Beneficial interests issued by consolidated VIEs | 115 | 98 | 323 | 308 |
Total interest expense | 1,815 | 1,819 | 5,533 | 6,008 |
Net interest income | 10,924 | 11,107 | 32,285 | 32,572 |
Provision for credit losses | 682 | 757 | 2,576 | 2,299 |
Net interest income after provision for credit losses | $ 10,242 | $ 10,350 | $ 29,709 | $ 30,273 |
Pension and other postretirem81
Pension and other postretirement employee benefit plans - Net Periodic Benefit Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Pension plans, U.S. | ||||
Amortization: | ||||
Total defined contribution plans | $ 119 | $ 115 | $ 323 | $ 333 |
Pension plans, Non-U.S. | ||||
Amortization: | ||||
Total defined contribution plans | 85 | 87 | 254 | 254 |
Pension plans, U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 85 | 70 | 255 | 210 |
Interest cost on benefit obligations | 125 | 133 | 375 | 401 |
Expected return on plan assets | (232) | (247) | (697) | (739) |
Amortization: | ||||
Net (gain)/loss | 62 | 6 | 185 | 19 |
Prior service cost/(credit) | (9) | (9) | (26) | (31) |
Net periodic defined benefit cost | 31 | (47) | 92 | (140) |
Other defined benefit pension plans | 3 | 3 | 10 | 10 |
Total defined benefit plans | 34 | (44) | 102 | (130) |
Total pension and OPEB cost included in compensation expense | 153 | 71 | 425 | 203 |
Pension plans, Non-U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 9 | 8 | 28 | 25 |
Interest cost on benefit obligations | 28 | 34 | 84 | 104 |
Expected return on plan assets | (38) | (42) | (113) | (131) |
Amortization: | ||||
Net (gain)/loss | 9 | 12 | 27 | 36 |
Prior service cost/(credit) | 0 | (1) | (1) | (1) |
Net periodic defined benefit cost | 8 | 11 | 25 | 33 |
Other defined benefit pension plans | 2 | 2 | 7 | 5 |
Total defined benefit plans | 10 | 13 | 32 | 38 |
Total pension and OPEB cost included in compensation expense | 95 | 100 | 286 | 292 |
OPEB plans | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost on benefit obligations | 8 | 9 | 24 | 27 |
Expected return on plan assets | (27) | (25) | (80) | (75) |
Amortization: | ||||
Net (gain)/loss | 0 | 0 | 0 | 0 |
Prior service cost/(credit) | 0 | 0 | 0 | 0 |
Net periodic defined benefit cost | (19) | (16) | (56) | (48) |
Total defined benefit plans | (19) | (16) | (56) | (48) |
Total pension and OPEB cost included in compensation expense | $ (19) | $ (16) | $ (56) | $ (48) |
Pension and other postretirem82
Pension and other postretirement employee benefit plans (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
US defined benefit pension and OPEB plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | $ 15,900 | $ 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 | 3,500 | $ 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 incentiv83
Employee stock-based incentives - Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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 | $ 269 | $ 326 | $ 856 | $ 1,071 |
Accrual of estimated costs of stock awards to be granted in future periods including those to full-career eligible employees | 195 | 213 | 683 | 610 |
Total noncash compensation expense related to employee stock-based incentive plans | $ 464 | $ 539 | $ 1,539 | $ 1,681 |
Employee stock-based incentiv84
Employee stock-based incentives - RSUs (Details) - Restricted Stock Units (RSUs) shares in Millions | 3 Months Ended |
Mar. 31, 2015$ / sharesshares | |
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) | $ / shares | $ 55.91 |
Noninterest expense (Details)
Noninterest expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Non interest Expense [Line Items] | ||||
Federal Deposit Insurance Corporation-related (“FDIC”) expense | $ 298 | $ 250 | $ 916 | $ 809 |
Threatened or Pending Litigation | ||||
Non interest Expense [Line Items] | ||||
Firmwide legal expense | $ 1,347 | $ 1,062 | $ 2,325 | $ 1,769 |
Securities - Amortized Costs, F
Securities - Amortized Costs, Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale Debt Securities: | ||
Amortized cost | $ 248,775 | $ 288,466 |
Gross unrealized gains | 5,962 | 8,143 |
Gross unrealized losses | 851 | 387 |
Fair value | 253,886 | 296,222 |
Available-for-sale Equity Securities: | ||
Amortized cost | 2,587 | 2,513 |
Gross unrealized gains | 18 | 17 |
Gross unrealized losses | 0 | 0 |
Fair value | 2,605 | 2,530 |
Available-for-sale Securities: | ||
Amortized cost | 251,362 | 290,979 |
Gross unrealized gains | 5,980 | 8,160 |
Gross unrealized losses | 851 | 387 |
Fair value | 256,491 | 298,752 |
Held-to-maturity Securities: | ||
Amortized cost | 50,169 | 49,252 |
Gross unrealized gains | 1,724 | 1,902 |
Gross unrealized losses | 48 | 0 |
Fair value | 51,845 | 51,154 |
Total mortgage-backed securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 111,516 | 133,598 |
Gross unrealized gains | 2,778 | 3,842 |
Gross unrealized losses | 218 | 118 |
Fair value | 114,076 | 137,322 |
U.S. government agencies | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 52,800 | 63,089 |
Gross unrealized gains | 1,811 | 2,302 |
Gross unrealized losses | 33 | 72 |
Fair value | 54,578 | 65,319 |
Commercial and other | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 22,763 | 20,687 |
Gross unrealized gains | 287 | 438 |
Gross unrealized losses | 157 | 17 |
Fair value | 22,893 | 21,108 |
U.S. Treasury and government agencies | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 11,482 | 13,603 |
Gross unrealized gains | 1 | 56 |
Gross unrealized losses | 136 | 14 |
Fair value | 11,347 | 13,645 |
Obligations of U.S. states and municipalities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 30,923 | 27,841 |
Gross unrealized gains | 1,872 | 2,243 |
Gross unrealized losses | 86 | 16 |
Fair value | 32,709 | 30,068 |
Held-to-maturity Securities: | ||
Amortized cost | 12,700 | 10,200 |
Certificates of deposit | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 415 | 1,103 |
Gross unrealized gains | 3 | 1 |
Gross unrealized losses | 0 | 1 |
Fair value | 418 | 1,103 |
Non-U.S. government debt securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 38,197 | 51,492 |
Gross unrealized gains | 960 | 1,272 |
Gross unrealized losses | 37 | 21 |
Fair value | 39,120 | 52,743 |
Corporate debt securities | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 14,747 | 18,158 |
Gross unrealized gains | 185 | 398 |
Gross unrealized losses | 151 | 24 |
Fair value | 14,781 | 18,532 |
Asset-backed securities, Collateralized loan obligations | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 31,381 | 30,229 |
Gross unrealized gains | 69 | 147 |
Gross unrealized losses | 146 | 182 |
Fair value | 31,304 | 30,194 |
Asset-backed securities, Other | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 10,114 | 12,442 |
Gross unrealized gains | 94 | 184 |
Gross unrealized losses | 77 | 11 |
Fair value | 10,131 | 12,615 |
US government-sponsored and enterprises obligations | ||
Available-for-sale Securities: | ||
Fair value | 41,600 | 59,300 |
Held-to-maturity Securities: | ||
Amortized cost | 31,900 | 35,300 |
US Government Corporations and Agencies | ||
Held-to-maturity Securities: | ||
Amortized cost | 5,600 | 3,700 |
Residential mortgage-backed securities | Residential, Prime and Alt-A | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 6,811 | 5,595 |
Gross unrealized gains | 66 | 78 |
Gross unrealized losses | 19 | 29 |
Fair value | 6,858 | 5,644 |
Residential mortgage-backed securities | Residential, Subprime | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 301 | 677 |
Gross unrealized gains | 8 | 14 |
Gross unrealized losses | 0 | 0 |
Fair value | 309 | 691 |
Residential mortgage-backed securities | Residential, Non-U.S. | ||
Available-for-sale Debt Securities: | ||
Amortized cost | 28,841 | 43,550 |
Gross unrealized gains | 606 | 1,010 |
Gross unrealized losses | 9 | 0 |
Fair value | $ 29,438 | $ 44,560 |
Securities - Continuous Unreali
Securities - Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Held-to-maturity Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | $ 4,824 | $ 0 |
Less than 12 months, Gross unrealized losses | 48 | 0 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 4,824 | 0 |
Total gross unrealized losses | 48 | 0 |
Investment Securities, Continuous Unrealized Loss Position: | ||
Less than 12 months, Fair value | 63,225 | 41,720 |
Less than 12 months, Gross unrealized losses | 753 | 173 |
12 months or more, Fair value | 12,708 | 15,614 |
12 months or more, Gross unrealized losses | 146 | 214 |
Total fair value | 75,933 | 57,334 |
Total gross unrealized losses | 899 | 387 |
Debt securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 58,401 | 41,720 |
Less than 12 months, Gross unrealized losses | 705 | 173 |
12 months or more, Fair Value | 12,708 | 15,614 |
12 months or more, Gross unrealized losses | 146 | 214 |
Total fair value | 71,109 | 57,334 |
Total gross unrealized losses | 851 | 387 |
Total mortgage-backed securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 18,824 | 7,761 |
Less than 12 months, Gross unrealized losses | 197 | 30 |
12 months or more, Fair Value | 1,237 | 5,486 |
12 months or more, Gross unrealized losses | 21 | 88 |
Total fair value | 20,061 | 13,247 |
Total gross unrealized losses | 218 | 118 |
U.S. government agencies | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 4,797 | 1,118 |
Less than 12 months, Gross unrealized losses | 19 | 5 |
12 months or more, Fair Value | 717 | 4,989 |
12 months or more, Gross unrealized losses | 14 | 67 |
Total fair value | 5,514 | 6,107 |
Total gross unrealized losses | 33 | 72 |
Residential, Prime and Alt-A | Residential mortgage-backed securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 2,294 | 1,840 |
Less than 12 months, Gross unrealized losses | 14 | 10 |
12 months or more, Fair Value | 251 | 405 |
12 months or more, Gross unrealized losses | 5 | 19 |
Total fair value | 2,545 | 2,245 |
Total gross unrealized losses | 19 | 29 |
Residential, Subprime | Residential mortgage-backed 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, Non-U.S. | Residential mortgage-backed securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 1,477 | 0 |
Less than 12 months, Gross unrealized losses | 9 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 1,477 | 0 |
Total gross unrealized losses | 9 | 0 |
Commercial and other | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 10,256 | 4,803 |
Less than 12 months, Gross unrealized losses | 155 | 15 |
12 months or more, Fair Value | 269 | 92 |
12 months or more, Gross unrealized losses | 2 | 2 |
Total fair value | 10,525 | 4,895 |
Total gross unrealized losses | 157 | 17 |
U.S. Treasury and government agencies | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 11,205 | 8,412 |
Less than 12 months, Gross unrealized losses | 136 | 14 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 11,205 | 8,412 |
Total gross unrealized losses | 136 | 14 |
Obligations of U.S. states and municipalities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 4,681 | 1,405 |
Less than 12 months, Gross unrealized losses | 79 | 15 |
12 months or more, Fair Value | 218 | 130 |
12 months or more, Gross unrealized losses | 7 | 1 |
Total fair value | 4,899 | 1,535 |
Total gross unrealized losses | 86 | 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 | 2,941 | 4,433 |
Less than 12 months, Gross unrealized losses | 30 | 4 |
12 months or more, Fair Value | 205 | 906 |
12 months or more, Gross unrealized losses | 7 | 17 |
Total fair value | 3,146 | 5,339 |
Total gross unrealized losses | 37 | 21 |
Corporate debt securities | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 4,107 | 2,492 |
Less than 12 months, Gross unrealized losses | 142 | 22 |
12 months or more, Fair Value | 634 | 80 |
12 months or more, Gross unrealized losses | 9 | 2 |
Total fair value | 4,741 | 2,572 |
Total gross unrealized losses | 151 | 24 |
Asset-backed securities, Collateralized loan obligations | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 11,843 | 13,909 |
Less than 12 months, Gross unrealized losses | 44 | 76 |
12 months or more, Fair Value | 10,414 | 9,012 |
12 months or more, Gross unrealized losses | 102 | 106 |
Total fair value | 22,257 | 22,921 |
Total gross unrealized losses | 146 | 182 |
Asset-backed securities, Other | ||
Available-for-sale Securities, Securities with Gross Unrealized Losses: | ||
Less than 12 months, Fair value | 4,800 | 2,258 |
Less than 12 months, Gross unrealized losses | 77 | 11 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 4,800 | 2,258 |
Total gross unrealized losses | 77 | 11 |
Available-for-sale 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 |
Securities - Realized Gain (Los
Securities - Realized Gain (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Securities gains and losses | |||||
Realized gains | $ 65 | $ 41 | $ 250 | $ 265 | |
Realized losses | (20) | (33) | (107) | (215) | |
OTTI losses | (12) | (2) | (14) | (2) | |
Net securities gains | [1] | 33 | 6 | 129 | 48 |
Credit-related losses recognized in income | |||||
Securities gains and losses | |||||
OTTI losses | 0 | 0 | (1) | 0 | |
Securities the Firm intends to sell | |||||
Securities gains and losses | |||||
OTTI losses | $ (12) | $ (2) | $ (13) | $ (2) | |
[1] | The Firm recognized other-than-temporary impairment (“OTTI”) losses of $12 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $14 million and $2 million for the nine months ended September 30, 2015 and 2014, respectively. |
Securities - Changes in Credit
Securities - Changes in Credit Loss (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in the credit loss component of OTTI losses recognized in income related to AFS debt securities | ||||
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 | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 14,178 | |
Due after one year through five years, amortized cost | 32,008 | |
Due after five years through 10 years, amortized cost | 58,058 | |
Due after 10 years, amortized cost | 144,531 | |
Amortized cost | 248,775 | $ 288,466 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 14,454 | |
Due after one year through five years, fair value | 32,538 | |
Due after five years through 10 years, fair value | 58,489 | |
Due after 10 years, fair value | 148,405 | |
Fair value | $ 253,886 | 296,222 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 2.69% | |
Due after one year through five years, average yield | 1.93% | |
Due after five years through 10 years, average yield | 1.57% | |
Due after 10 years, average yield | 3.47% | |
Average yield | 2.78% | |
Available-for-sale equity securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 0 | |
Due after one year through five years, amortized cost | 0 | |
Due after five years through 10 years, amortized cost | 0 | |
Due after 10 years, amortized cost | 2,587 | |
Amortized cost | 2,587 | |
Available-for-sale Securities, Equity Maturities, Single Maturity Date, Fair Value: | ||
Due in one year or less, fair value | 0 | |
Due after one year through five years, fair value | 0 | |
Due after five years through 10 years, fair value | 0 | |
Due after 10 years, fair value | 2,605 | |
Available-for-sale securities, equity maturities, fair value, total | $ 2,605 | |
Available For Sale Securities, Equity Maturities, Single Maturity Date, Average Yield: | ||
Due in one year or less, average yield | 0.00% | |
Due after one year through five years, average yield | 0.00% | |
Due after five years through 10 years, average yield | 0.00% | |
Due after 10 years, average yield | 0.02% | |
Average yield | 0.02% | |
Available-for-sale Securities, Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in one year or less, amortized cost | $ 14,178 | |
Due after one year through five years, amortized cost | 32,008 | |
Due after five years through 10 years, amortized cost | 58,058 | |
Due after 10 years, amortized cost | 147,118 | |
Amortized cost | 251,362 | 290,979 |
Available-for-sale Securities, Maturities, Single Maturity Date, Fair Value: | ||
Due in one year or less, fair value | 14,454 | |
Due after one year through five years, fair value | 32,538 | |
Due after five years through 10 years, fair value | 58,489 | |
Due after 10 years, fair value | 151,010 | |
Fair value | $ 256,491 | 298,752 |
Available For Sale Securities, Maturities, Single Maturity Date, Average Yield: | ||
Due in one year or less, average yield | 2.69% | |
Due after one year through five years, average yield | 1.93% | |
Due after five years through 10 years, average yield | 1.57% | |
Due after 10 years, average yield | 3.41% | |
Available-for-sale securities, maturities, average yield, total | 2.75% | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Due in one year or less, amortized cost | $ 52 | |
Due after one year through five years, amortized cost | 0 | |
Due after five years through 10 years, amortized cost | 901 | |
Due after 10 years, amortized cost | 49,216 | |
Amortized cost | 50,169 | 49,252 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value: | ||
Due in one year or less, fair value | 52 | |
Due after one year through five years, fair value | 0 | |
Due after five years through 10 years, fair value | 942 | |
Due after 10 years, fair value | 50,851 | |
Held-to-maturity Securities, Fair Value | $ 51,845 | 51,154 |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Average Yield [Abstract] | ||
Due in one year or less, average yield | 4.41% | |
Due after one year through five years, average yield | 0.00% | |
Due after five years through 10 years, average yield | 4.98% | |
Due after 10 years, average yield | 3.97% | |
Held-to-maturity securities, maturities, average yield, total | 3.99% | |
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 | 2 years | |
U.S. nonagency residential collateralized mortgage obligations estimated duration | 3 years | |
Minimum | ||
Supplemental information | ||
Due period of mortgage-backed securities and collateralized mortgage obligations | 10 years | |
Mortgage-backed securities | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 2,333 | |
Due after one year through five years, amortized cost | 10,991 | |
Due after five years through 10 years, amortized cost | 6,054 | |
Due after 10 years, amortized cost | 92,138 | |
Amortized cost | 111,516 | 133,598 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 2,344 | |
Due after one year through five years, fair value | 11,184 | |
Due after five years through 10 years, fair value | 6,263 | |
Due after 10 years, fair value | 94,285 | |
Fair value | $ 114,076 | 137,322 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 1.40% | |
Due after one year through five years, average yield | 1.76% | |
Due after five years through 10 years, average yield | 3.23% | |
Due after 10 years, average yield | 2.95% | |
Average yield | 2.81% | |
U.S. Treasury and government agencies | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 100 | |
Due after one year through five years, amortized cost | 0 | |
Due after five years through 10 years, amortized cost | 10,228 | |
Due after 10 years, amortized cost | 1,154 | |
Amortized cost | 11,482 | 13,603 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 100 | |
Due after one year through five years, fair value | 0 | |
Due after five years through 10 years, fair value | 10,121 | |
Due after 10 years, fair value | 1,126 | |
Fair value | $ 11,347 | 13,645 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 0.13% | |
Due after one year through five years, average yield | 0.00% | |
Due after five years through 10 years, average yield | 0.22% | |
Due after 10 years, average yield | 0.43% | |
Average yield | 0.24% | |
Obligations of U.S. states and municipalities | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 139 | |
Due after one year through five years, amortized cost | 765 | |
Due after five years through 10 years, amortized cost | 1,440 | |
Due after 10 years, amortized cost | 28,579 | |
Amortized cost | 30,923 | 27,841 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 142 | |
Due after one year through five years, fair value | 788 | |
Due after five years through 10 years, fair value | 1,513 | |
Due after 10 years, fair value | 30,266 | |
Fair value | $ 32,709 | 30,068 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 6.55% | |
Due after one year through five years, average yield | 3.39% | |
Due after five years through 10 years, average yield | 5.43% | |
Due after 10 years, average yield | 6.68% | |
Average yield | 6.54% | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis: | ||
Amortized cost | $ 12,700 | 10,200 |
Certificates of deposit | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | 364 | |
Due after one year through five years, amortized cost | 51 | |
Due after five years through 10 years, amortized cost | 0 | |
Due after 10 years, amortized cost | 0 | |
Amortized cost | 415 | 1,103 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 365 | |
Due after one year through five years, fair value | 53 | |
Due after five years through 10 years, fair value | 0 | |
Due after 10 years, fair value | 0 | |
Fair value | $ 418 | 1,103 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 5.69% | |
Due after one year through five years, average yield | 3.28% | |
Due after five years through 10 years, average yield | 0.00% | |
Due after 10 years, average yield | 0.00% | |
Average yield | 5.39% | |
Non-U.S. government debt securities | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 7,243 | |
Due after one year through five years, amortized cost | 11,485 | |
Due after five years through 10 years, amortized cost | 17,299 | |
Due after 10 years, amortized cost | 2,170 | |
Amortized cost | 38,197 | 51,492 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 7,479 | |
Due after one year through five years, fair value | 11,750 | |
Due after five years through 10 years, fair value | 17,607 | |
Due after 10 years, fair value | 2,284 | |
Fair value | $ 39,120 | 52,743 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 3.28% | |
Due after one year through five years, average yield | 1.75% | |
Due after five years through 10 years, average yield | 1.05% | |
Due after 10 years, average yield | 0.72% | |
Average yield | 1.64% | |
Corporate debt securities | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 3,486 | |
Due after one year through five years, amortized cost | 8,243 | |
Due after five years through 10 years, amortized cost | 2,875 | |
Due after 10 years, amortized cost | 143 | |
Amortized cost | 14,747 | 18,158 |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 3,510 | |
Due after one year through five years, fair value | 8,287 | |
Due after five years through 10 years, fair value | 2,846 | |
Due after 10 years, fair value | 138 | |
Fair value | $ 14,781 | $ 18,532 |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 2.18% | |
Due after one year through five years, average yield | 2.29% | |
Due after five years through 10 years, average yield | 2.77% | |
Due after 10 years, average yield | 4.46% | |
Average yield | 2.38% | |
Asset-backed securities | ||
Available-for-sale debt securities, Amortized cost: | ||
Due in one year or less, amortized cost | $ 513 | |
Due after one year through five years, amortized cost | 473 | |
Due after five years through 10 years, amortized cost | 20,162 | |
Due after 10 years, amortized cost | 20,347 | |
Amortized cost | 41,495 | |
Available-for-sale debt securities, Fair Value: | ||
Due in one year or less, fair value | 514 | |
Due after one year through five years, fair value | 476 | |
Due after five years through 10 years, fair value | 20,139 | |
Due after 10 years, fair value | 20,306 | |
Fair value | $ 41,435 | |
Available-for-sale debt securities, Average yield: | ||
Due in one year or less, average yield | 0.95% | |
Due after one year through five years, average yield | 1.19% | |
Due after five years through 10 years, average yield | 1.76% | |
Due after 10 years, average yield | 1.79% | |
Average yield | 1.76% |
Securities financing activiti91
Securities financing activities - Schedule of securities purchased under resale agreements, netting & securities borrowed (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities purchased under resale agreements: | ||
Securities purchased under resale agreements with an appropriate legal opinion, Gross asset balance | $ 375,841 | $ 347,142 |
Amounts netted on the Consolidated balance sheets | (161,197) | (142,719) |
Securities purchased under resale agreements with an appropriate legal opinion, Net asset balance | 214,644 | 204,423 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained, Gross asset balance | 2,710 | 10,598 |
Total securities purchased under resale agreements, gross asset balance | 378,551 | 357,740 |
Total securities purchased under resale agreements, net asset balance | 217,354 | 215,021 |
Securities borrowed, Gross asset balance | 105,668 | 110,435 |
Securities borrowed where an appropriate legal opinion has not been either sought or obtained | 21,500 | 27,700 |
Securities Financing Transaction, Fair Value | ||
Securities purchased under resale agreements: | ||
Total securities purchased under resale agreements, net asset balance | 27,400 | 28,600 |
Securities borrowed, fair value | $ 405 | $ 992 |
Securities financing activiti92
Securities financing activities - Schedule of securities purchased under resale agreements & securities borrowed collateral netting (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities purchased under resale agreements with an appropriate legal opinion: | ||
Net asset balance | $ 214,644 | $ 204,423 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | (211,255) | (201,375) |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | (518) | (246) |
Net exposure | 2,871 | 2,802 |
Securities borrowed: | ||
Net asset balance | 84,157 | 82,748 |
Amounts not nettable on the Consolidated Balance Sheets, Financial instruments | (81,413) | (80,338) |
Amounts not nettable on the Consolidated Balance Sheets, Cash collateral | 0 | 0 |
Net exposure | $ 2,744 | $ 2,410 |
Securities financing activiti93
Securities financing activities - Schedule of securities sold under repurchase agreements, netting & securities loaned (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements with an appropriate legal opinion, Gross liability balance | $ 311,565,000,000 | $ 290,529,000,000 |
Amounts netted on the Consolidated balance sheets | (161,197,000,000) | (142,719,000,000) |
Securities sold under repurchase agreements with an appropriate legal opinion, Net liability balance | 150,368,000,000 | 147,810,000,000 |
Securities sold under repurchase agreements where an appropriate legal opinion has not been either sought or obtained(a) | 14,070,000,000 | 21,996,000,000 |
Total securities sold under repurchase agreements, Gross liability balance | 325,635,000,000 | 312,525,000,000 |
Total securities sold under repurchase agreements, Net liability balance | 164,438,000,000 | 169,806,000,000 |
Securities loaned | 20,738,000,000 | 25,927,000,000 |
Securities loaned where an appropriate legal opinion has not been either sought or obtained | 41,000,000 | 271,000,000 |
Securities-For-Securities Borrow Versus Pledge Transactions | ||
Securities Financing Transaction [Line Items] | ||
Securities lending transactions and fair value | 5,800,000,000 | 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 lending transactions and fair value | $ 0 | $ 0 |
Securities financing activiti94
Securities financing activities - Schedule of securities sold under repurchase agreements & securities loaned collateral netting (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities sold under repurchase agreements with an appropriate legal opinion: | ||
Net liability balance | $ 150,368 | $ 147,810 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | (146,749) | (145,732) |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | (442) | (497) |
Net amount | 3,177 | 1,581 |
Securities loaned: | ||
Net liability | 20,697 | 25,656 |
Amounts not nettable on the Consolidated balance sheets, Financial Instruments | (20,553) | (25,287) |
Amounts not nettable on the Consolidated balance sheets, Cash collateral | 0 | 0 |
Net amount | $ 144 | $ 369 |
Securities financing activiti95
Securities financing activities - Schedule of secured financing transactions by assets pledged & remaining maturity (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | $ 325,635 | $ 312,525 |
Securities loaned, gross | 20,738 | $ 25,927 |
Remaining maturity, Overnight and continuous | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 117,879 | |
Securities loaned, gross | 9,463 | |
Remaining maturity, Up to 30 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 124,711 | |
Securities loaned, gross | 649 | |
Remaining maturity, 30 - 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 27,052 | |
Securities loaned, gross | 319 | |
Remaining maturity, Greater than 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 55,993 | |
Securities loaned, gross | 10,307 | |
Mortgage-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 22,060 | |
Securities loaned, gross | 0 | |
U.S. Treasury and government agencies | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 166,522 | |
Securities loaned, gross | 223 | |
Obligations of U.S. states and municipalities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 1,718 | |
Securities loaned, gross | 0 | |
Non-U.S. government debt | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 89,573 | |
Securities loaned, gross | 621 | |
Corporate debt securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 19,580 | |
Securities loaned, gross | 110 | |
Asset-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 5,238 | |
Securities loaned, gross | 0 | |
Equity securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements, gross | 20,944 | |
Securities loaned, gross | $ 19,784 |
Securities financing activiti96
Securities financing activities - Schedule of transfers not qualifying for sale accounting (Details) - USD ($) $ in Billions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Financing Transactions Disclosures [Abstract] | ||
Transfers not qualifying for sale accounting | $ 11.2 | $ 13.8 |
Loans - By Portfolio Segment (D
Loans - By Portfolio Segment (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Loan balances by portfolio segment: | |||
Retained | $ 804,293 | $ 747,508 | $ 735,304 |
Held-for-sale | 2,029 | 7,217 | |
At fair value | 3,135 | 2,611 | |
Total | 809,457 | 757,336 | |
Net deferred loan costs | 628 | 1,300 | |
Consumer, excluding credit card | |||
Loan balances by portfolio segment: | |||
Retained | 331,732 | 294,979 | 288,379 |
Held-for-sale | 237 | 395 | |
At fair value | 0 | 0 | |
Total | 331,969 | 295,374 | |
Credit card | |||
Loan balances by portfolio segment: | |||
Retained | 125,634 | 128,027 | 126,564 |
Held-for-sale | 1,345 | 3,021 | |
At fair value | 0 | 0 | |
Total | 126,979 | 131,048 | |
Wholesale | |||
Loan balances by portfolio segment: | |||
Retained | 346,927 | 324,502 | $ 320,361 |
Held-for-sale | 447 | 3,801 | |
At fair value | 3,135 | 2,611 | |
Total | $ 350,509 | $ 330,914 |
Loans - Purchased, Sold and Rec
Loans - Purchased, Sold and Reclassified to Held-for-Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | $ 2,395 | $ 2,257 | $ 5,812 | $ 6,283 |
Sales | 2,986 | 3,659 | 12,723 | 10,581 |
Retained loans reclassified to held-for-sale | 99 | 468 | 1,806 | 1,994 |
Consumer, excluding credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 1,196 | 1,945 | 3,918 | 5,694 |
Sales | 1,130 | 1,573 | 4,073 | 3,816 |
Retained loans reclassified to held-for-sale | 0 | 232 | 1,272 | 1,034 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 14,400 | 4,100 | 39,800 | 8,200 |
Credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 272 | 1,269 | 272 |
Retained loans reclassified to held-for-sale | 79 | 186 | 79 | 401 |
Wholesale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 1,199 | 312 | 1,894 | 589 |
Sales | 1,856 | 1,814 | 7,381 | 6,493 |
Retained loans reclassified to held-for-sale | $ 20 | $ 50 | $ 455 | $ 559 |
Loans - Net Gains and Losses on
Loans - Net Gains and Losses on Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ 108 | $ 114 | $ 293 | $ 267 |
Consumer, excluding credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | 62 | 97 | 239 | 223 |
Credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | 13 | (9) | 22 | (9) |
Wholesale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) | $ 33 | $ 26 | $ 32 | $ 53 |
Loans - Consumer, Excluding Cre
Loans - Consumer, Excluding Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 331,732 | 294,979 | $ 288,379 |
Consumer, excluding credit card | Home equity | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 15,490 | 17,095 | |
Consumer, excluding credit card | Home equity | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 15,156 | 16,367 | |
Consumer, excluding credit card | Home equity | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 31,974 | 36,375 | |
Consumer, excluding credit card | Home equity | Junior lien | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 12,269 | 13,851 | |
Consumer, excluding credit card | Mortgages | Prime | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 150,114 | 104,921 | |
Consumer, excluding credit card | Mortgages | Prime | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,196 | 10,220 | |
Consumer, excluding credit card | Mortgages | Subprime | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,853 | 5,056 | |
Consumer, excluding credit card | Mortgages | Subprime | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,329 | 3,673 | |
Consumer, excluding credit card | Mortgages | Option ARMs | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 14,221 | 15,708 | |
Consumer, excluding credit card | Auto | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 57,174 | 54,536 | |
Consumer, excluding credit card | Business banking | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 20,871 | 20,058 | |
Consumer, excluding credit card | Student and other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 10,354 | $ 10,970 |
Loans - Consumer, Excluding 101
Loans - Consumer, Excluding Credit Card Loan Portfolio, Residential Real Estate, Excluding PCI Loans (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293,000,000 | $ 747,508,000,000 | $ 735,304,000,000 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 331,732,000,000 | 294,979,000,000 | $ 288,379,000,000 |
Period past due, credit analysis factors, charge off criteria | 90 days | ||
Consumer, excluding credit card | Residential real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 201,097,000,000 | $ 162,719,000,000 | |
% of 30 days past due to total retained loans | 1.55% | 2.27% | |
Consumer, excluding credit card | Residential real estate | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 52,342,000,000 | $ 39,227,000,000 | |
Consumer, excluding credit card | Residential real estate | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 29,644,000,000 | 27,717,000,000 | |
Consumer, excluding credit card | Residential real estate | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 14,279,000,000 | 10,772,000,000 | |
Consumer, excluding credit card | Residential real estate | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 10,892,000,000 | 8,044,000,000 | |
Consumer, excluding credit card | Residential real estate | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,336,000,000 | 8,522,000,000 | |
Consumer, excluding credit card | Residential real estate | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 7,769,000,000 | 6,475,000,000 | |
Consumer, excluding credit card | Residential real estate | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,257,000,000 | 4,241,000,000 | |
Consumer, excluding credit card | Residential real estate | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,116,000,000 | 4,439,000,000 | |
Consumer, excluding credit card | Residential real estate | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,219,000,000 | 2,908,000,000 | |
Consumer, excluding credit card | Residential real estate | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,869,000,000 | 2,655,000,000 | |
Consumer, excluding credit card | Residential real estate | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 60,374,000,000 | 47,719,000,000 | |
Consumer, excluding credit card | Residential real estate | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,048,000,000 | 12,110,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 332,000,000 | 618,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 158,000,000 | 302,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,681,000,000 | 4,049,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,063,000,000 | 1,630,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,139,000,000 | 11,409,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,914,000,000 | 3,802,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 161,657,000,000 | 116,469,000,000 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 12,105,000,000 | 12,330,000,000 | |
Consumer, excluding credit card | Residential real estate | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 189,683,000,000 | 149,552,000,000 | |
Consumer, excluding credit card | Residential real estate | Current | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,700,000,000 | 2,600,000,000 | |
Consumer, excluding credit card | Residential real estate | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,604,000,000 | 5,388,000,000 | |
Consumer, excluding credit card | Residential real estate | 30–149 days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 3,000,000,000 | 3,500,000,000 | |
Consumer, excluding credit card | Residential real estate | 30–149 days past due | U.S. government-guaranteed | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 30 days | ||
Consumer, excluding credit card | Residential real estate | 30–149 days past due | U.S. government-guaranteed | Maximum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 149 days | ||
Consumer, excluding credit card | Residential real estate | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 6,810,000,000 | 7,779,000,000 | |
Consumer, excluding credit card | Residential real estate | 150 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 5,300,000,000 | 6,000,000,000 | |
Consumer, excluding credit card | Residential real estate | 150 or more days past due | U.S. government-guaranteed | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 150 days | ||
Consumer, excluding credit card | Residential real estate | 90 or more days past due and government guaranteed(c) | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 6,405,000,000 | 7,544,000,000 | |
Consumer, excluding credit card | Residential real estate | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,931,000,000 | 5,754,000,000 | |
Consumer, excluding credit card | Residential real estate | Nonaccrual loans | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,800,000,000 | 4,200,000,000 | |
Consumer, excluding credit card | Residential real estate | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 0 | $ 0 | |
Consumer, excluding credit card | Residential real estate | 90 or more days past due and still accruing | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Period past due, credit analysis factors, charge off criteria | 90 days | 90 days | |
Consumer, excluding credit card | Home equity | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 15,156,000,000 | $ 16,367,000,000 | |
% of 30 days past due to total retained loans | 3.86% | 3.89% | |
Consumer, excluding credit card | Home equity | Senior lien | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 2,090,000,000 | $ 2,232,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,591,000,000 | 2,805,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,219,000,000 | 1,306,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,624,000,000 | 1,845,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 828,000,000 | 861,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 652,000,000 | 654,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 455,000,000 | 506,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 843,000,000 | 927,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 683,000,000 | 736,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,053,000,000 | 1,150,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,118,000,000 | 3,345,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 15,000,000 | 21,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 87,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 50,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 450,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 172,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 12,331,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,044,000,000 | 2,226,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 14,571,000,000 | 15,730,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 248,000,000 | 275,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 337,000,000 | 362,000,000 | |
Consumer, excluding credit card | Home equity | Senior lien | 90 or more days past due and government guaranteed(c) | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity | Senior lien | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 883,000,000 | 938,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 31,974,000,000 | $ 36,375,000,000 | |
% of 30 days past due to total retained loans | 2.14% | 2.20% | |
Consumer, excluding credit card | Home equity | Junior lien | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 7,123,000,000 | $ 8,144,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,819,000,000 | 7,685,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,321,000,000 | 2,605,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 977,000,000 | 1,087,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,688,000,000 | 1,923,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,009,000,000 | 2,233,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,056,000,000 | 1,216,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,396,000,000 | 1,595,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 734,000,000 | 848,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 670,000,000 | 778,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 7,181,000,000 | 8,261,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity | Junior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 252,000,000 | 467,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 69,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,124,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 607,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,014,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,422,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 19,242,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,244,000,000 | 3,407,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 31,289,000,000 | 35,575,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 447,000,000 | 533,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 238,000,000 | 267,000,000 | |
Consumer, excluding credit card | Home equity | Junior lien | 90 or more days past due and government guaranteed(c) | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity | Junior lien | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,373,000,000 | 1,590,000,000 | |
Consumer, excluding credit card | Mortgages | U.S. government-guaranteed | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,000,000,000 | 12,100,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 150,114,000,000 | $ 104,921,000,000 | |
% of 30 days past due to total retained loans | 0.83% | 1.42% | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 42,588,000,000 | $ 28,133,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 19,695,000,000 | 16,550,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 10,588,000,000 | 6,654,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 8,143,000,000 | 4,935,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,388,000,000 | 5,106,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,930,000,000 | 3,361,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,662,000,000 | 2,410,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,800,000,000 | 1,805,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,718,000,000 | 1,203,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,061,000,000 | 615,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 48,541,000,000 | 34,149,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,048,000,000 | 12,110,000,000 | |
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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 62,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 62,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 434,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 267,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,497,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 852,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 128,678,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,214,000,000 | 4,906,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 140,579,000,000 | 93,951,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | 30 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 8,300,000,000 | 9,500,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,513,000,000 | 4,091,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,022,000,000 | 6,879,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | 90 or more days past due and government guaranteed(c) | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,405,000,000 | 7,544,000,000 | |
Consumer, excluding credit card | Mortgages | Prime, including option ARMs | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,863,000,000 | 2,190,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 3,853,000,000 | $ 5,056,000,000 | |
% of 30 days past due to total retained loans | 15.81% | 15.03% | |
Consumer, excluding credit card | Mortgages | Subprime | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 541,000,000 | $ 718,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 539,000,000 | 677,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 151,000,000 | 207,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 148,000,000 | 177,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 432,000,000 | 632,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 178,000,000 | 227,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 84,000,000 | 109,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 77,000,000 | 112,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 84,000,000 | 121,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 85,000,000 | 112,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,534,000,000 | 1,964,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,000,000 | 10,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 20,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 36,000,000 | 118,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 139,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 178,000,000 | 432,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 468,000,000 | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,406,000,000 | 1,586,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,603,000,000 | 1,791,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,244,000,000 | 4,296,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 396,000,000 | 489,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 213,000,000 | 271,000,000 | |
Consumer, excluding credit card | Mortgages | Subprime | 90 or more days past due and government guaranteed(c) | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Consumer, excluding credit card | Mortgages | Subprime | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 812,000,000 | $ 1,036,000,000 |
Loans - Consumer, Excluding 102
Loans - Consumer, Excluding Credit Card Loan Portfolio, Delinquency Statistics Junior Lien Home Equity Loans (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 331,732 | 294,979 | $ 288,379 |
Consumer, excluding credit card | Home equity | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 31,974 | $ 36,375 | |
% of 30 days past due to total retained loans | 2.14% | 2.20% | |
Consumer, excluding credit card | HELOANs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 2,582 | $ 3,144 | |
% of 30 days past due to total retained loans | 2.75% | 3.34% | |
Consumer, excluding credit card | HELOCs, Within the revolving period | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 18,883 | $ 25,252 | |
% of 30 days past due to total retained loans | 1.57% | 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 | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 10,509 | $ 7,979 | |
% of 30 days past due to total retained loans | 3.03% | 3.16% |
Loans - Consumer, Excluding 103
Loans - Consumer, Excluding Credit Card Loan Portfolio, Impaired Loans (Details) - Consumer, excluding credit card $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)payment | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Impaired loans: | |||||
Period past due, credit analysis factors, charge off criteria | 90 days | ||||
Loans modified subsequent to repurchase from Ginnie Mae | $ 4,200 | $ 4,200 | $ 4,900 | ||
TDRs not having yet made six payments | 2,600 | 2,600 | 2,900 | ||
Average impaired loans | 9,331 | $ 12,493 | 10,367 | $ 12,806 | |
Interest income on impaired loans | 114 | 144 | 366 | 443 | |
Interest income on impaired loans on a cash basis | 42 | 49 | $ 132 | 148 | |
Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 18.00% | ||||
Mortgages | Minimum | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Period past due, credit analysis factors, charge off criteria | 30 days | ||||
Residential real estate | |||||
Impaired loans: | |||||
With an allowance | 6,678 | $ 6,678 | 8,462 | ||
Without an allowance | 2,595 | 2,595 | 2,966 | ||
Total impaired loans | 9,273 | 9,273 | 11,428 | ||
Allowance for loan losses related to impaired loans | 247 | 247 | 422 | ||
Unpaid principal balance of impaired loans | 13,403 | 13,403 | 16,067 | ||
Impaired loans on nonaccrual status | 3,328 | $ 3,328 | 3,750 | ||
Number of payments under modified terms to recognize interest on cash basis | payment | 6 | ||||
Prime, including option ARMs | Mortgages | |||||
Impaired loans: | |||||
With an allowance | 3,954 | $ 3,954 | 4,949 | ||
Without an allowance | 1,019 | 1,019 | 1,196 | ||
Total impaired loans | 4,973 | 4,973 | 6,145 | ||
Allowance for loan losses related to impaired loans | 93 | 93 | 127 | ||
Unpaid principal balance of impaired loans | 6,429 | 6,429 | 7,813 | ||
Impaired loans on nonaccrual status | 1,373 | 1,373 | 1,559 | ||
Average impaired loans | 5,038 | 6,657 | 5,562 | 6,811 | |
Interest income on impaired loans | 52 | 65 | 166 | 199 | |
Interest income on impaired loans on a cash basis | 12 | 14 | $ 36 | 41 | |
Prime, including option ARMs | Mortgages | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 19.00% | ||||
Subprime | Mortgages | |||||
Impaired loans: | |||||
With an allowance | 1,437 | $ 1,437 | 2,239 | ||
Without an allowance | 491 | 491 | 639 | ||
Total impaired loans | 1,928 | 1,928 | 2,878 | ||
Allowance for loan losses related to impaired loans | 15 | 15 | 64 | ||
Unpaid principal balance of impaired loans | 2,968 | 2,968 | 4,200 | ||
Impaired loans on nonaccrual status | 718 | 718 | 931 | ||
Average impaired loans | 1,942 | 3,411 | 2,434 | 3,551 | |
Interest income on impaired loans | 30 | 45 | 102 | 141 | |
Interest income on impaired loans on a cash basis | 10 | 13 | $ 32 | 39 | |
Subprime | Mortgages | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 14.00% | ||||
Senior lien | Home equity | |||||
Impaired loans: | |||||
With an allowance | 561 | $ 561 | 552 | ||
Without an allowance | 502 | 502 | 549 | ||
Total impaired loans | 1,063 | 1,063 | 1,101 | ||
Allowance for loan losses related to impaired loans | 53 | 53 | 84 | ||
Unpaid principal balance of impaired loans | 1,395 | 1,395 | 1,451 | ||
Impaired loans on nonaccrual status | 596 | 596 | 628 | ||
Average impaired loans | 1,072 | 1,115 | 1,084 | 1,128 | |
Interest income on impaired loans | 13 | 14 | 39 | 42 | |
Interest income on impaired loans on a cash basis | 8 | 9 | $ 26 | 28 | |
Junior lien | Permanent Modification | Regulatory Guidance Regarding Chapter 7 Loans | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 10.00% | ||||
Junior lien | Home equity | |||||
Impaired loans: | |||||
With an allowance | 726 | $ 726 | 722 | ||
Without an allowance | 583 | 583 | 582 | ||
Total impaired loans | 1,309 | 1,309 | 1,304 | ||
Allowance for loan losses related to impaired loans | 86 | 86 | 147 | ||
Unpaid principal balance of impaired loans | 2,611 | 2,611 | 2,603 | ||
Impaired loans on nonaccrual status | 641 | 641 | $ 632 | ||
Average impaired loans | 1,279 | 1,310 | 1,287 | 1,316 | |
Interest income on impaired loans | 19 | 20 | 59 | 61 | |
Interest income on impaired loans on a cash basis | $ 12 | $ 13 | $ 38 | $ 40 |
Loans - Consumer, Excluding 104
Loans - Consumer, Excluding Credit Card Loan Portfolio, Loan Modifications, New TDRs (Details) - Consumer, excluding credit card - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 201 | $ 198 | $ 503 | $ 521 |
Prime, including option ARMs | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 49 | 89 | 170 | 208 |
Subprime | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 13 | 29 | 47 | 82 |
Senior lien | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 29 | 27 | 87 | 74 |
Junior lien | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 110 | $ 53 | $ 199 | $ 157 |
Loans - Consumer, Excluding 105
Loans - Consumer, Excluding Credit Card Loan Portfolio, Loan Modifications, Nature and Extent of Modifications (Details) - Consumer, excluding credit card - loan | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 72.00% | 36.00% | 73.00% | 56.00% |
Concession granted - Term of payment extension | 84.00% | 36.00% | 84.00% | 60.00% |
Concession granted - Principal and/or interest deferred | 24.00% | 9.00% | 26.00% | 16.00% |
Concession granted - principal forgiveness | 15.00% | 62.00% | 16.00% | 45.00% |
Concession granted - other | 6.00% | 4.00% | 5.00% | 6.00% |
Percentage, sum of items by type, may exceed | 100.00% | |||
Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 2,499 | 1,172 | 4,724 | 3,476 |
Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 1,758 | 3,601 | 5,076 | 7,956 |
Prime, including option ARMs | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 76.00% | 23.00% | 72.00% | 40.00% |
Concession granted - Term of payment extension | 77.00% | 18.00% | 82.00% | 46.00% |
Concession granted - Principal and/or interest deferred | 28.00% | 7.00% | 33.00% | 17.00% |
Concession granted - principal forgiveness | 25.00% | 73.00% | 25.00% | 54.00% |
Concession granted - other | 10.00% | 4.00% | 9.00% | 9.00% |
Prime, including option ARMs | Trial Modification | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 283 | 274 | 822 | 790 |
Prime, including option ARMs | Permanent Modification | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 414 | 1,267 | 1,122 | 2,184 |
Subprime | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 70.00% | 26.00% | 70.00% | 43.00% |
Concession granted - Term of payment extension | 82.00% | 29.00% | 80.00% | 49.00% |
Concession granted - Principal and/or interest deferred | 17.00% | 6.00% | 21.00% | 11.00% |
Concession granted - principal forgiveness | 34.00% | 72.00% | 32.00% | 57.00% |
Concession granted - other | 15.00% | 7.00% | 12.00% | 9.00% |
Subprime | Trial Modification | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 381 | 502 | 1,170 | 1,530 |
Subprime | Permanent Modification | Mortgages | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 391 | 1,420 | 1,275 | 2,680 |
Senior lien | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 77.00% | 43.00% | 75.00% | 56.00% |
Concession granted - Term of payment extension | 90.00% | 53.00% | 85.00% | 71.00% |
Concession granted - Principal and/or interest deferred | 34.00% | 10.00% | 32.00% | 12.00% |
Concession granted - principal forgiveness | 3.00% | 50.00% | 5.00% | 38.00% |
Concession granted - other | 0.00% | 0.00% | 0.00% | 0.00% |
Senior lien | Trial Modification | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 333 | 232 | 983 | 651 |
Senior lien | Permanent Modification | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 273 | 333 | 849 | 854 |
Junior lien | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 68.00% | 84.00% | 73.00% | 85.00% |
Concession granted - Term of payment extension | 87.00% | 84.00% | 87.00% | 83.00% |
Concession granted - Principal and/or interest deferred | 21.00% | 22.00% | 24.00% | 22.00% |
Concession granted - principal forgiveness | 5.00% | 20.00% | 4.00% | 26.00% |
Concession granted - other | 0.00% | 0.00% | 0.00% | 0.00% |
Junior lien | Trial Modification | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 1,502 | 164 | 1,749 | 505 |
Junior lien | Permanent Modification | Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of contract modifications | 680 | 581 | 1,830 | 2,238 |
Loans - Consumer, Excluding 106
Loans - Consumer, Excluding Credit Card Loan Portfolio, Financial Effects of Modifications and Redefaults (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)loan_payment | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 804,293 | $ 735,304 | $ 804,293 | $ 735,304 | $ 747,508 |
Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 331,732 | $ 288,379 | 331,732 | $ 288,379 | 294,979 |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 1,200 | 1,200 | 1,500 | ||
Consumer, excluding credit card | Business banking | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 20,871 | $ 20,871 | 20,058 | ||
Consumer, excluding credit card | Residential real estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of payments past due for deemed payment | loan_payment | 2 | ||||
Carrying value | $ 201,097 | $ 201,097 | 162,719 | ||
Permanent Modification | Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.57% | 5.14% | 5.57% | 5.63% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.65% | 2.87% | 2.65% | 2.79% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 22 years | 22 years | 22 years | 23 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 | $ 5 | $ 5 | $ 12 | $ 33 | |
Principal deferred | 20 | 15 | 65 | 57 | |
Principal forgiven | 19 | 109 | 54 | 189 | |
Balance of loans that redefaulted within one year of permanent modification | 43 | $ 75 | $ 116 | $ 191 | |
Maximum | Consumer, excluding credit card | Business banking | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Maximum | Consumer, excluding credit card | Residential real estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of months before a payment redefault under modified loans | 12 months | ||||
Prime, including option ARMs | Consumer, excluding credit card | Mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 150,114 | $ 150,114 | 104,921 | ||
Prime, including option ARMs | Permanent Modification | Consumer, excluding credit card | Mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.07% | 4.16% | 5.08% | 4.81% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.61% | 2.77% | 2.50% | 2.70% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 25 years | 25 years | 25 years | 25 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 36 years | 37 years | 37 years | 37 years | |
Charge-offs recognized upon permanent modification | $ 4 | $ 1 | $ 7 | $ 5 | |
Principal deferred | 9 | 8 | 31 | 31 | |
Principal forgiven | 10 | 51 | 26 | 76 | |
Balance of loans that redefaulted within one year of permanent modification | 23 | $ 35 | $ 58 | $ 97 | |
Modifications, weighted-average remaining life | 10 years | ||||
Subprime | Consumer, excluding credit card | Mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 3,853 | $ 3,853 | $ 5,056 | ||
Subprime | Permanent Modification | Consumer, excluding credit card | Mortgages | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.82% | 6.97% | 6.73% | 7.29% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.11% | 3.45% | 3.17% | 3.44% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 24 years | 22 years | 24 years | 24 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 37 years | 35 years | 36 years | 36 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 1 | $ 2 | $ 2 | |
Principal deferred | 4 | 4 | 14 | 15 | |
Principal forgiven | 9 | 49 | 26 | 81 | |
Balance of loans that redefaulted within one year of permanent modification | $ 15 | $ 32 | $ 44 | $ 72 | |
Modifications, weighted-average remaining life | 8 years | ||||
Senior lien | Permanent Modification | Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Modifications, weighted-average remaining life | 10 years | ||||
Senior lien | Permanent Modification | Consumer, excluding credit card | Home equity | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.55% | 6.05% | 5.82% | 6.45% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.61% | 3.13% | 2.74% | 3.03% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 17 years | 18 years | 17 years | 18 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 33 years | 31 years | 32 years | 30 years | |
Charge-offs recognized upon permanent modification | $ 1 | $ 1 | $ 1 | $ 2 | |
Principal deferred | 3 | 1 | 10 | 3 | |
Principal forgiven | 0 | 6 | 2 | 12 | |
Balance of loans that redefaulted within one year of permanent modification | $ 4 | $ 5 | $ 10 | $ 14 | |
Junior lien | Permanent Modification | Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Modifications, weighted-average remaining life | 9 years | ||||
Junior lien | Permanent Modification | Consumer, excluding credit card | Home equity | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 4.96% | 4.81% | 4.85% | 4.83% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.15% | 2.07% | 2.20% | 1.95% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 17 years | 19 years | 18 years | 19 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 34 years | 35 years | 34 years | 35 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 2 | $ 2 | $ 24 | |
Principal deferred | 4 | 2 | 10 | 8 | |
Principal forgiven | 0 | 3 | 0 | 20 | |
Balance of loans that redefaulted within one year of permanent modification | $ 1 | $ 3 | $ 4 | $ 8 |
Loans - Consumer, Excluding 107
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Loans (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 331,732 | 294,979 | $ 288,379 |
Auto | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 57,174 | $ 54,536 | |
% of 30 days past due to total retained loans | 1.06% | 1.23% | |
Auto | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 10,079 | $ 9,822 | |
Auto | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 85 | 35 | |
Auto | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Auto | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,836 | 6,294 | |
Auto | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,730 | 3,662 | |
Auto | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,424 | 3,175 | |
Auto | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,042 | 5,608 | |
Auto | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,607 | 2,301 | |
Auto | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,972 | 1,945 | |
Auto | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,098 | 1,019 | |
Auto | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,923 | 2,003 | |
Auto | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,533 | 1,633 | |
Auto | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,284 | 2,157 | |
Auto | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 25,725 | 24,739 | |
Auto | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 56,566 | 53,866 | |
Auto | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 600 | 663 | |
Auto | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 8 | 7 | |
Auto | 90 or more days past due and still accruing | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Auto | Nonaccrual loans | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 110 | 115 | |
Business banking | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 20,871 | $ 20,058 | |
% of 30 days past due to total retained loans | 1.38% | 1.73% | |
Business banking | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 15,224 | $ 14,619 | |
Business banking | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 802 | 708 | |
Business banking | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 183 | 213 | |
Business banking | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,368 | 3,008 | |
Business banking | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,251 | 3,187 | |
Business banking | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,401 | 1,373 | |
Business banking | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,604 | 2,626 | |
Business banking | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 930 | 827 | |
Business banking | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 504 | 451 | |
Business banking | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 269 | 258 | |
Business banking | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,185 | 1,083 | |
Business banking | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,366 | 1,375 | |
Business banking | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,366 | 1,354 | |
Business banking | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,627 | 4,516 | |
Business banking | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 20,583 | 19,710 | |
Business banking | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 185 | 208 | |
Business banking | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 103 | 140 | |
Business banking | 90 or more days past due and still accruing | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Business banking | Nonaccrual loans | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 236 | 279 | |
Student and other | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 10,354 | $ 10,970 | |
% of 30 days past due to total retained loans | 2.04% | 2.15% | |
Student and other | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 1,093 | $ 1,143 | |
Student and other | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,230 | 1,259 | |
Student and other | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 697 | 729 | |
Student and other | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 845 | 868 | |
Student and other | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 525 | 521 | |
Student and other | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 384 | 378 | |
Student and other | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 215 | 235 | |
Student and other | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 236 | 239 | |
Student and other | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 430 | 466 | |
Student and other | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 578 | 629 | |
Student and other | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,121 | 4,503 | |
Student and other | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,636 | 10,080 | |
Student and other | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 469 | 576 | |
Student and other | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 249 | 314 | |
Student and other | 90 or more days past due and still accruing | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 289 | 367 | |
Student and other | Nonaccrual loans | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 253 | 270 | |
Student and other | Days Past Due, 30 or More, and Still Accruing | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 507 | 654 | |
Other Consumer | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 88,399 | $ 85,564 | |
% of 30 days past due to total retained loans | 1.25% | 1.47% | |
Other Consumer | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 25,303 | $ 24,441 | |
Other Consumer | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 887 | 743 | |
Other Consumer | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 183 | 213 | |
Other Consumer | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,297 | 10,445 | |
Other Consumer | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 8,211 | 8,108 | |
Other Consumer | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,522 | 5,277 | |
Other Consumer | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,491 | 9,102 | |
Other Consumer | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,062 | 3,649 | |
Other Consumer | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,860 | 2,774 | |
Other Consumer | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,582 | 1,512 | |
Other Consumer | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,344 | 3,325 | |
Other Consumer | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,329 | 3,474 | |
Other Consumer | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,228 | 4,140 | |
Other Consumer | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 34,473 | 33,758 | |
Other Consumer | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 86,785 | 83,656 | |
Other Consumer | Current | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,000 | 4,300 | |
Other Consumer | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,254 | 1,447 | |
Other Consumer | 30–119 days past due | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 279 | 364 | |
Other Consumer | 30–119 days past due | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, charge-off criteria, period past due | 30 days | ||
Other Consumer | 30–119 days past due | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Maximum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, charge-off criteria, period past due | 119 days | ||
Other Consumer | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 360 | 461 | |
Other Consumer | 120 or more days past due | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 228 | 290 | |
Other Consumer | 120 or more days past due | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, charge-off criteria, period past due | 120 days | ||
Other Consumer | 90 or more days past due and still accruing | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 289 | 367 | |
Other Consumer | Nonaccrual loans | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 599 | $ 664 | |
Other Consumer | Days Past Due, 30 or More, and Still Accruing | Consumer, excluding credit card | Student and Other Loans Insured or Guaranteed by U.S. Government Agencies | Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, charge-off criteria, period past due | 30 days |
Loans - Consumer, Excluding 108
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Impaired Loans and Loan Modifications (Details) - Consumer, excluding credit card - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Average impaired loans | $ 9,331 | $ 12,493 | $ 10,367 | $ 12,806 | |
Other Consumer | |||||
Financing Receivable, Impaired [Line Items] | |||||
With an allowance | 512 | 512 | $ 557 | ||
Without an allowance | 32 | 32 | 35 | ||
Total impaired loans | 544 | 544 | 592 | ||
Allowance for loan losses related to impaired loans | 112 | 112 | 117 | ||
Unpaid principal balance of impaired loans | 657 | 657 | 719 | ||
Impaired loans on nonaccrual status | 430 | 430 | 456 | ||
Average impaired loans | 543 | $ 603 | 565 | $ 701 | |
Troubled debt restructuring | 398 | 398 | 442 | ||
Impaired loans on nonaccrual status | $ 284 | $ 284 | $ 306 |
Loans - Consumer, Excluding 109
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Loans (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | $ 804,293 | $ 747,508 | $ 735,304 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 331,732 | 294,979 | $ 288,379 |
Consumer, excluding credit card | Residential real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 201,097 | 162,719 | |
Consumer, excluding credit card | Residential real estate | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 52,342 | 39,227 | |
Consumer, excluding credit card | Residential real estate | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 29,644 | 27,717 | |
Consumer, excluding credit card | Residential real estate | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 14,279 | 10,772 | |
Consumer, excluding credit card | Residential real estate | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 10,892 | 8,044 | |
Consumer, excluding credit card | Residential real estate | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 9,336 | 8,522 | |
Consumer, excluding credit card | Residential real estate | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,769 | 6,475 | |
Consumer, excluding credit card | Residential real estate | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 5,257 | 4,241 | |
Consumer, excluding credit card | Residential real estate | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 5,116 | 4,439 | |
Consumer, excluding credit card | Residential real estate | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,219 | 2,908 | |
Consumer, excluding credit card | Residential real estate | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,869 | 2,655 | |
Consumer, excluding credit card | Residential real estate | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 60,374 | 47,719 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 332 | 618 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 158 | 302 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,681 | 4,049 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,063 | 1,630 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 9,139 | 11,409 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,914 | 3,802 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 161,657 | 116,469 | |
Consumer, excluding credit card | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 12,105 | 12,330 | |
Consumer, excluding credit card | Residential real estate | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,604 | 5,388 | |
Consumer, excluding credit card | Residential real estate | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,810 | 7,779 | |
Consumer, excluding credit card | Mortgages | Prime | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 150,114 | 104,921 | |
Consumer, excluding credit card | Mortgages | Prime | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 42,588 | 28,133 | |
Consumer, excluding credit card | Mortgages | Prime | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 19,695 | 16,550 | |
Consumer, excluding credit card | Mortgages | Prime | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 10,588 | 6,654 | |
Consumer, excluding credit card | Mortgages | Prime | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,143 | 4,935 | |
Consumer, excluding credit card | Mortgages | Prime | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,388 | 5,106 | |
Consumer, excluding credit card | Mortgages | Prime | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,930 | 3,361 | |
Consumer, excluding credit card | Mortgages | Prime | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,662 | 2,410 | |
Consumer, excluding credit card | Mortgages | Prime | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,800 | 1,805 | |
Consumer, excluding credit card | Mortgages | Prime | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,718 | 1,203 | |
Consumer, excluding credit card | Mortgages | Prime | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,061 | 615 | |
Consumer, excluding credit card | Mortgages | Prime | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 48,541 | 34,149 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 62 | 120 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 62 | 103 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 434 | 648 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 267 | 340 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,497 | 3,863 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 852 | 1,026 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 128,678 | 81,805 | |
Consumer, excluding credit card | Mortgages | Prime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 5,214 | 4,906 | |
Consumer, excluding credit card | Mortgages | Prime | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,513 | 4,091 | |
Consumer, excluding credit card | Mortgages | Prime | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,022 | 6,879 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,853 | 5,056 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 541 | 718 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 539 | 677 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 151 | 207 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 148 | 177 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 432 | 632 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 178 | 227 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 84 | 109 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 77 | 112 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 84 | 121 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 85 | 112 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,534 | 1,964 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3 | 10 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 20 | 51 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 36 | 118 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 139 | 298 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 178 | 432 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 468 | 770 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,406 | 1,586 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,603 | 1,791 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 396 | 489 | |
Consumer, excluding credit card | Mortgages | Subprime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 213 | 271 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 42,236 | 46,696 | |
Related allowance for loan losses | 2,788 | 3,325 | |
Total loans | $ 44,004 | $ 49,137 | |
% of 30 days past due to total loans | 11.29% | 13.33% | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 24,234 | $ 26,964 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 2,642 | 2,944 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,187 | 1,332 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 657 | 731 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,756 | 4,257 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,187 | 1,345 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,481 | 1,674 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 728 | 802 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 469 | 531 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 190 | 209 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 7,473 | 8,348 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 387 | 681 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 367 | 680 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 2,410 | 3,491 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,850 | 2,755 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 7,467 | 9,262 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 4,695 | 5,965 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 17,238 | 16,799 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 9,590 | 9,504 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 39,037 | 42,586 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,910 | 2,339 | |
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,057 | 4,212 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 15,490 | 17,095 | |
Related allowance for loan losses | 1,708 | 1,758 | |
Total loans | $ 15,867 | $ 17,740 | |
% of 30 days past due to total loans | 6.47% | 8.15% | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 9,521 | $ 10,671 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 809 | 876 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 371 | 405 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 235 | 273 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,533 | 1,696 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 319 | 348 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 850 | 959 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 289 | 323 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 46 | 53 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 18 | 20 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,876 | 2,116 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 298 | 513 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 159 | 273 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,676 | 2,245 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 774 | 1,073 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,668 | 4,171 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,443 | 1,647 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 5,878 | 5,824 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,971 | 1,994 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 14,840 | 16,295 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 317 | 445 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 710 | 1,000 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 9,196 | 10,220 | |
Related allowance for loan losses | 1,031 | 1,193 | |
Total loans | $ 9,220 | $ 10,249 | |
% of 30 days past due to total loans | 11.51% | 13.05% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 5,349 | $ 5,965 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 594 | 672 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 272 | 301 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 97 | 92 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 611 | 689 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 243 | 279 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 199 | 225 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 150 | 167 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 148 | 166 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 46 | 48 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,511 | 1,645 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 19 | 45 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 50 | 97 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 269 | 456 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 259 | 402 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,579 | 2,154 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 973 | 1,316 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,859 | 3,663 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 2,212 | 2,116 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 8,159 | 8,912 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 423 | 500 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Prime | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 638 | 837 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,329 | 3,673 | |
Related allowance for loan losses | 0 | 180 | |
Total loans | $ 4,151 | $ 4,652 | |
% of 30 days past due to total loans | 20.38% | 23.37% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 1,036 | $ 1,138 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 405 | 463 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 201 | 229 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 248 | 281 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 381 | 432 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 142 | 165 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 84 | 95 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 79 | 85 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 116 | 130 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 64 | 72 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,395 | 1,562 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 22 | 34 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 88 | 160 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 127 | 215 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 318 | 509 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 405 | 519 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 788 | 1,006 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 827 | 719 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,576 | 1,490 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,305 | 3,565 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 465 | 536 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Subprime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 381 | 551 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 14,221 | 15,708 | |
Related allowance for loan losses | 49 | 194 | |
Total loans | $ 14,766 | $ 16,496 | |
% of 30 days past due to total loans | 13.77% | 16.26% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 8,328 | $ 9,190 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 834 | 933 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 343 | 397 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 77 | 85 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,231 | 1,440 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 483 | 553 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 348 | 395 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 210 | 227 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 159 | 182 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 62 | 69 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 2,691 | 3,025 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 48 | 89 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Greater than 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 70 | 150 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 338 | 575 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Between 101% and 125% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 499 | 771 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,815 | 2,418 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Between 80% and 100% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 1,491 | 1,996 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Equal to or Greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 6,674 | 6,593 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current Estimated LTV Ratio Less than 80% | Refreshed FICO Scores Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 3,831 | 3,904 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 12,733 | 13,814 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | 705 | 858 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgages | Option ARMs | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans | $ 1,328 | $ 1,824 |
Loans - Consumer, Excluding 110
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Delinquency Statistics (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 331,732 | 294,979 | $ 288,379 |
Consumer, excluding credit card | Home equity | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 15,156 | $ 16,367 | |
Total 30 day delinquency rate | 3.86% | 3.89% | |
Consumer, excluding credit card | Home equity | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 31,974 | $ 36,375 | |
Total 30 day delinquency rate | 2.14% | 2.20% | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 15,490 | $ 17,095 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of senior liens to total financing receivables | 20.00% | ||
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 12,269 | $ 13,851 | |
Total 30 day delinquency rate | 4.56% | 6.55% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOCs | Junior lien | Within the revolving period | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 5,888 | $ 8,972 | |
Total 30 day delinquency rate | 4.26% | 6.42% | |
Home equity line of credit, open-ended revolving period | 10 years | ||
Consumer, excluding credit card | Residential real estate – PCI | HELOCs | Junior lien | Beyond the revolving period | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 5,770 | $ 4,143 | |
Total 30 day delinquency rate | 4.75% | 6.42% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 611 | $ 736 | |
Total 30 day delinquency rate | 5.56% | 8.83% |
Loans - Consumer, Excluding 111
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Accretable Yield Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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 | $ 804,293 | $ 735,304 | $ 804,293 | $ 735,304 | $ 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 | 331,732 | 288,379 | 331,732 | 288,379 | 294,979 |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | 1,200 | 1,200 | 1,500 | ||
Consumer, excluding credit card | Residential real estate | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | 201,097 | 201,097 | 162,719 | ||
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Beginning balance | 13,741 | 15,275 | 14,592 | 16,167 | |
Accretion into interest income | (424) | (471) | (1,290) | (1,480) | |
Changes in interest rates on variable-rate loans | 3 | (75) | 21 | (141) | |
Other changes in expected cash flows | 511 | 242 | 508 | 425 | |
Reclassifications from nonaccretable difference | 90 | 0 | 90 | 0 | |
Ending balance | $ 13,921 | $ 14,971 | $ 13,921 | $ 14,971 | |
Accretable yield percentage | 4.22% | 4.10% | 4.18% | 4.22% | |
Total retained loans | $ 42,236 | $ 42,236 | 46,696 | ||
Consumer, excluding credit card | Residential real estate – PCI | Residential real estate | In Process of Active or Suspended Foreclosure | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Total retained loans | $ 2,400 | $ 2,400 | $ 3,200 |
Loans - Credit Card Loan Portfo
Loans - Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 125,634 | 128,027 | $ 126,564 |
Credit card | Credit card loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 125,634 | $ 128,027 | |
% of 30 days past due to total retained loans | 1.38% | 1.44% | |
% of 90 days past due to total retained loans | 0.66% | 0.70% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Equal to or greater than 660 | 85.10% | 85.70% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Less than 660 | 14.90% | 14.30% | |
Credit card | Credit card loans | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 17,830 | $ 17,940 | |
Credit card | Credit card loans | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,270 | 11,088 | |
Credit card | Credit card loans | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 10,965 | 10,940 | |
Credit card | Credit card loans | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 7,389 | 7,497 | |
Credit card | Credit card loans | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 7,375 | 7,398 | |
Credit card | Credit card loans | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,668 | 5,750 | |
Credit card | Credit card loans | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,504 | 4,707 | |
Credit card | Credit card loans | Pennsylvania | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 4,324 | 4,489 | |
Credit card | Credit card loans | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,448 | 3,552 | |
Credit card | Credit card loans | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,068 | 3,263 | |
Credit card | Credit card loans | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 49,793 | 51,403 | |
Credit card | Credit card loans | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 123,901 | 126,189 | |
Credit card | Credit card loans | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 908 | 943 | |
Credit card | Credit card loans | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 825 | 895 | |
Credit card | Credit card loans | Nonaccrual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 0 | $ 0 |
Loans - Credit Card Portfolio -
Loans - Credit Card Portfolio - Impaired Loans (Details) - Credit card - Credit card loans - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Credit card loans with modified payment terms | $ 1,370 | $ 1,370 | $ 1,775 | ||
Modified credit card loans that have reverted to pre-modification payment terms | 193 | 193 | 254 | ||
Total impaired loans | 1,563 | 1,563 | 2,029 | ||
Allowance for loan losses related to impaired credit card loans | 485 | 485 | 500 | ||
Average impaired loans | 1,620 | $ 2,342 | 1,775 | $ 2,630 | |
Interest income on impaired loans | 20 | $ 29 | 64 | $ 97 | |
Completion of Short Term Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Amounts related to short-term modification program | 71 | 71 | 95 | ||
Noncompliance with Modified Terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Modified credit card loans that have reverted to pre-modification payment terms | $ 122 | $ 122 | $ 159 |
Loans - Credit Card Portfoli114
Loans - Credit Card Portfolio - Loan Modifications (Details) - Credit card - Credit card loans $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)payment | Sep. 30, 2014USD ($) | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Fixed payment plan period | 60 months | ||||
Weighted-average interest rate of loans – before TDR | 15.09% | 14.96% | 15.13% | 15.01% | |
Weighted-average interest rate of loans – after TDR | 4.35% | 4.40% | 4.30% | 4.37% | |
Loans that redefaulted within one year of modification | $ 23 | $ 29 | $ 65 | $ 92 | |
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 | 26.04% | 27.91% | |||
Total new enrollments | |||||
Financing Receivable, Impaired [Line Items] | |||||
New TDRs | $ 154 | $ 196 | $ 483 | $ 622 |
Loans - Wholesale Loan Portfoli
Loans - Wholesale Loan Portfolio - By Class of Receivable (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 346,927 | $ 324,502 | $ 320,361 |
% of total criticized to total retained loans | 1.79% | 1.45% | |
% of nonaccrual loans to total retained loans | 0.31% | 0.18% | |
Wholesale | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 344,105 | $ 321,612 | |
Wholesale | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,612 | 2,215 | |
Wholesale | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 124 | 76 | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,086 | 599 | |
Wholesale | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 96,544 | 100,865 | |
Wholesale | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 250,383 | 223,637 | |
Wholesale | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 261,189 | 241,666 | |
Wholesale | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 85,738 | 82,836 | |
Wholesale | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 79,513 | 78,118 | |
Wholesale | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 5,139 | 4,119 | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,086 | 599 | |
Wholesale | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 113,707 | $ 109,625 | |
% of total criticized to total retained loans | 3.50% | 2.22% | |
% of nonaccrual loans to total retained loans | 0.59% | 0.17% | |
Wholesale | Commercial and industrial | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 112,916 | $ 108,857 | |
Wholesale | Commercial and industrial | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 118 | 566 | |
Wholesale | Commercial and industrial | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1 | 14 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 672 | 188 | |
Wholesale | Commercial and industrial | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 30,734 | 33,739 | |
Wholesale | Commercial and industrial | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 82,973 | 75,886 | |
Wholesale | Commercial and industrial | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 64,719 | 63,069 | |
Wholesale | Commercial and industrial | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 48,988 | 46,556 | |
Wholesale | Commercial and industrial | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 45,012 | 44,117 | |
Wholesale | Commercial and industrial | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 3,304 | 2,251 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 672 | 188 | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 89,481 | $ 79,113 | |
% of total criticized to total retained loans | 1.81% | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 89,041 | $ 78,552 | |
Wholesale | Real estate | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 167 | 275 | |
Wholesale | Real estate | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 16 | 33 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 257 | 253 | |
Wholesale | Real estate | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 2,671 | 2,099 | |
Wholesale | Real estate | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 86,810 | 77,014 | |
Wholesale | Real estate | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 71,068 | 61,006 | |
Wholesale | Real estate | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 18,413 | 18,107 | |
Wholesale | Real estate | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 16,795 | 16,541 | |
Wholesale | Real estate | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,361 | 1,313 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 257 | 253 | |
Wholesale | Financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 29,160 | $ 34,530 | |
% of total criticized to total retained loans | 1.05% | 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 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 29,092 | $ 34,408 | |
Wholesale | Financial institutions | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 47 | 104 | |
Wholesale | Financial institutions | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 10 | 0 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11 | 18 | |
Wholesale | Financial institutions | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 18,019 | 20,944 | |
Wholesale | Financial institutions | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,141 | 13,586 | |
Wholesale | Financial institutions | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 22,805 | 27,111 | |
Wholesale | Financial institutions | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,355 | 7,419 | |
Wholesale | Financial institutions | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 6,048 | 7,085 | |
Wholesale | Financial institutions | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 296 | 316 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11 | 18 | |
Wholesale | Government agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 11,106 | $ 8,696 | |
% of total criticized to total retained loans | 0.06% | 0.03% | |
% of nonaccrual loans to total retained loans | 0.00% | 0.00% | |
Wholesale | Government agencies | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 11,038 | $ 8,627 | |
Wholesale | Government agencies | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 68 | 69 | |
Wholesale | Government agencies | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Government agencies | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,666 | 1,122 | |
Wholesale | Government agencies | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 9,440 | 7,574 | |
Wholesale | Government agencies | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 10,843 | 8,393 | |
Wholesale | Government agencies | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 263 | 303 | |
Wholesale | Government agencies | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 256 | 300 | |
Wholesale | Government agencies | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 7 | 3 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 103,473 | $ 92,538 | |
% of total criticized to total retained loans | 0.31% | 0.41% | |
% of nonaccrual loans to total retained loans | 0.14% | 0.15% | |
Wholesale | Other | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 102,018 | $ 91,168 | |
Wholesale | Other | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,212 | 1,201 | |
Wholesale | Other | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 97 | 29 | |
Wholesale | Other | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 146 | 140 | |
Wholesale | Other | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 43,454 | 42,961 | |
Wholesale | Other | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 60,019 | 49,577 | |
Wholesale | Other | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 91,754 | 82,087 | |
Wholesale | Other | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,719 | 10,451 | |
Wholesale | Other | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 11,402 | 10,075 | |
Wholesale | Other | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 171 | 236 | |
Wholesale | Other | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 146 | $ 140 |
Loans - Wholesale Loan Portf116
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 804,293 | $ 747,508 | $ 735,304 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 346,927 | $ 324,502 | $ 320,361 |
% of total criticized to total retained loans | 1.79% | 1.45% | |
% of criticized nonaccrual to total real estate retained loans | 0.31% | 0.18% | |
Wholesale | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 58,139 | $ 51,049 | |
% of total criticized to total retained loans | 0.89% | 1.28% | |
% of criticized nonaccrual to total real estate retained loans | 0.20% | 0.25% | |
Wholesale | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 19,045 | $ 17,438 | |
% of total criticized to total retained loans | 5.14% | 4.82% | |
% of criticized nonaccrual to total real estate retained loans | 0.53% | 0.63% | |
Wholesale | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 4,832 | $ 4,264 | |
% of total criticized to total retained loans | 0.83% | 0.98% | |
% of criticized nonaccrual to total real estate retained loans | 0.00% | 0.00% | |
Wholesale | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 7,465 | $ 6,362 | |
% of total criticized to total retained loans | 1.14% | 0.49% | |
% of criticized nonaccrual to total real estate retained loans | 0.58% | 0.27% | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 89,481 | $ 79,113 | |
% of total criticized to total retained loans | 1.81% | 1.98% | |
% of criticized nonaccrual to total real estate retained loans | 0.29% | 0.32% | |
Wholesale | Criticized exposure | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 515 | $ 652 | |
Wholesale | Criticized exposure | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 978 | 841 | |
Wholesale | Criticized exposure | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 40 | 42 | |
Wholesale | Criticized exposure | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 85 | 31 | |
Wholesale | Criticized exposure | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,618 | 1,566 | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 1,086 | 599 | |
Wholesale | Criticized nonaccrual | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 114 | 126 | |
Wholesale | Criticized nonaccrual | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 100 | 110 | |
Wholesale | Criticized nonaccrual | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 0 | 0 | |
Wholesale | Criticized nonaccrual | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | 43 | 17 | |
Wholesale | Criticized nonaccrual | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total retained loans | $ 257 | $ 253 |
Loans - Wholesale Loan Portf117
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) - Wholesale - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Commercial and industrial | |||||
Impaired loans: | |||||
With an allowance | $ 578 | $ 578 | $ 174 | ||
Without an allowance | 94 | 94 | 24 | ||
Total impaired loans | 672 | 672 | 198 | ||
Allowance for loan losses related to impaired loans | 216 | 216 | 34 | ||
Unpaid principal balance of impaired loans | 721 | 721 | 266 | ||
Average impaired loans | 559 | $ 245 | 388 | $ 262 | |
Real estate | |||||
Impaired loans: | |||||
With an allowance | 167 | 167 | 193 | ||
Without an allowance | 124 | 124 | 87 | ||
Total impaired loans | 291 | 291 | 280 | ||
Allowance for loan losses related to impaired loans | 20 | 20 | 36 | ||
Unpaid principal balance of impaired loans | 356 | 356 | 345 | ||
Average impaired loans | 261 | 287 | 257 | 316 | |
Financial institutions | |||||
Impaired loans: | |||||
With an allowance | 10 | 10 | 15 | ||
Without an allowance | 1 | 1 | 3 | ||
Total impaired loans | 11 | 11 | 18 | ||
Allowance for loan losses related to impaired loans | 2 | 2 | 4 | ||
Unpaid principal balance of impaired loans | 14 | 14 | 22 | ||
Average impaired loans | 12 | 17 | 14 | 19 | |
Government agencies | |||||
Impaired loans: | |||||
With an allowance | 0 | 0 | 0 | ||
Without an allowance | 0 | 0 | 0 | ||
Total impaired loans | 0 | 0 | 0 | ||
Allowance for loan losses related to impaired loans | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans | 0 | 0 | 0 | ||
Average impaired loans | 0 | 0 | 1 | 0 | |
Other | |||||
Impaired loans: | |||||
With an allowance | 86 | 86 | 89 | ||
Without an allowance | 61 | 61 | 52 | ||
Total impaired loans | 147 | 147 | 141 | ||
Allowance for loan losses related to impaired loans | 43 | 43 | 13 | ||
Unpaid principal balance of impaired loans | 151 | 151 | 202 | ||
Average impaired loans | 122 | 162 | 114 | 163 | |
Commercial mortgage | |||||
Impaired loans: | |||||
With an allowance | 841 | 841 | 471 | ||
Without an allowance | 280 | 280 | 166 | ||
Total impaired loans | 1,121 | 1,121 | 637 | ||
Allowance for loan losses related to impaired loans | 281 | 281 | 87 | ||
Unpaid principal balance of impaired loans | 1,242 | 1,242 | $ 835 | ||
Average impaired loans | $ 954 | $ 711 | $ 774 | $ 760 |
Allowance for credit losses (De
Allowance for credit losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Gross charge-offs/Write-offs of PCI loans | $ 162 | $ 196 | |||||
Provision for credit losses | $ 682 | $ 757 | 2,576 | 2,299 | |||
Loans by impairment methodology | |||||||
Asset-specific | $ 12,501 | $ 15,670 | |||||
Formula-based | 749,552 | 671,142 | |||||
PCI | 42,240 | 48,492 | |||||
Total retained loans | 804,293 | $ 747,508 | 735,304 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 176 | 134 | |||||
Formula-based | 940,610 | 1,057,070 | |||||
Total lending-related commitments | 940,786 | 950,997 | 1,057,204 | ||||
Impaired collateral-dependent loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Net charge-offs/(recoveries) | 86 | 113 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,978 | 3,453 | |||||
Allowance for loan losses | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 14,185 | 16,264 | |||||
Gross charge-offs/Write-offs of PCI loans | 3,941 | 4,601 | |||||
Gross recoveries | (919) | (1,060) | |||||
Net charge-offs/(recoveries) | 3,022 | 3,541 | |||||
Provision for credit losses | 2,463 | 2,368 | |||||
Other | 2 | (6) | |||||
Ending balance | 13,466 | 14,889 | 13,466 | 14,889 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 1,125 | 1,242 | |||||
Formula-based | 9,553 | 9,985 | |||||
PCI | 2,788 | 3,662 | |||||
Total allowance for loan losses | 13,466 | 14,889 | 14,185 | 16,264 | 13,466 | 14,185 | 14,889 |
Allowance for lending-related commitments | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 622 | 705 | |||||
Provision for credit losses | 113 | (69) | |||||
Other | 0 | 1 | |||||
Ending balance | 735 | 637 | 735 | 637 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 69 | 68 | |||||
Allowance for lending-related commitments by impairment methodology, formula-based | 666 | 569 | |||||
Total allowance for loan losses | 735 | 637 | 622 | 705 | 735 | 622 | 637 |
Consumer, excluding credit card | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Gross charge-offs/Write-offs of PCI loans | 162 | 196 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 9,817 | 12,779 | |||||
Formula-based | 279,679 | 227,113 | |||||
PCI | 42,236 | 48,487 | |||||
Total retained loans | 331,732 | 294,979 | 288,379 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 60,005 | 54,912 | |||||
Total lending-related commitments | 60,005 | 54,912 | |||||
Consumer, excluding credit card | Impaired collateral-dependent loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Net charge-offs/(recoveries) | 84 | 105 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,653 | 3,138 | |||||
Consumer, excluding credit card | Allowance for loan losses | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 7,050 | 8,456 | |||||
Gross charge-offs/Write-offs of PCI loans | 1,269 | 1,613 | |||||
Gross recoveries | (577) | (629) | |||||
Net charge-offs/(recoveries) | 692 | 984 | |||||
Provision for credit losses | (346) | 180 | |||||
Other | (1) | 2 | |||||
Ending balance | 5,849 | 7,458 | 5,849 | 7,458 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 359 | 618 | |||||
Formula-based | 2,702 | 3,178 | |||||
PCI | 2,788 | 3,662 | |||||
Total allowance for loan losses | 5,849 | 7,458 | 7,050 | 8,456 | 5,849 | 7,050 | 7,458 |
Consumer, excluding credit card | Allowance for lending-related commitments | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 13 | 8 | |||||
Provision for credit losses | 1 | 1 | |||||
Other | 0 | 0 | |||||
Ending balance | 14 | 9 | 14 | 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 | 14 | 9 | |||||
Total allowance for loan losses | 14 | 9 | 13 | 8 | 14 | 13 | 9 |
Credit card | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 1,563 | 2,227 | |||||
Formula-based | 124,071 | 124,337 | |||||
PCI | 0 | 0 | |||||
Total retained loans | 125,634 | 128,027 | 126,564 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 526,433 | 531,301 | |||||
Total lending-related commitments | 526,433 | 531,301 | |||||
Credit card | Impaired collateral-dependent loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Net charge-offs/(recoveries) | 0 | 0 | |||||
Impaired collateral-dependent loans | |||||||
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] | |||||||
Beginning balance | 3,439 | 3,795 | |||||
Gross charge-offs/Write-offs of PCI loans | 2,626 | 2,882 | |||||
Gross recoveries | (278) | (311) | |||||
Net charge-offs/(recoveries) | 2,348 | 2,571 | |||||
Provision for credit losses | 2,348 | 2,371 | |||||
Other | (5) | (5) | |||||
Ending balance | 3,434 | 3,590 | 3,434 | 3,590 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 485 | 500 | |||||
Formula-based | 2,949 | 3,090 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses | 3,434 | 3,590 | 3,439 | 3,795 | 3,434 | 3,439 | 3,590 |
Credit card | Allowance for lending-related commitments | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 0 | 0 | |||||
Provision for credit losses | 0 | 0 | |||||
Other | 0 | 0 | |||||
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 | 0 | 0 |
Wholesale | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 1,121 | 664 | |||||
Formula-based | 345,802 | 319,692 | |||||
PCI | 4 | 5 | |||||
Total retained loans | 346,927 | 324,502 | 320,361 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 176 | 134 | |||||
Formula-based | 354,172 | 470,857 | |||||
Total lending-related commitments | 354,348 | 470,991 | |||||
Wholesale | Impaired collateral-dependent loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Net charge-offs/(recoveries) | 2 | 8 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 325 | 315 | |||||
Wholesale | Allowance for loan losses | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,696 | 4,013 | |||||
Gross charge-offs/Write-offs of PCI loans | 46 | 106 | |||||
Gross recoveries | (64) | (120) | |||||
Net charge-offs/(recoveries) | (18) | (14) | |||||
Provision for credit losses | 461 | (183) | |||||
Other | 8 | (3) | |||||
Ending balance | 4,183 | 3,841 | 4,183 | 3,841 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 281 | 124 | |||||
Formula-based | 3,902 | 3,717 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses | 4,183 | 3,841 | 3,696 | 4,013 | 4,183 | 3,696 | 3,841 |
Wholesale | Allowance for lending-related commitments | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 609 | 697 | |||||
Provision for credit losses | 112 | (70) | |||||
Other | 0 | 1 | |||||
Ending balance | 721 | 628 | 721 | 628 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 69 | 68 | |||||
Allowance for lending-related commitments by impairment methodology, formula-based | 652 | 560 | |||||
Total allowance for loan losses | $ 721 | $ 628 | $ 609 | $ 697 | $ 721 | $ 609 | $ 628 |
Variable interest entities - Fi
Variable interest entities - Firm Sponsored Variable Interest Entities (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | $ 239,500 | $ 254,300 |
Retained securitization interests, risk-rated 'A' or better, at fair value | 76.00% | 77.00% |
Corporate & Investment Bank | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Senior securities purchased in connection with CIB's secondary market-making activities | $ 132 | $ 136 |
Subordinated securities purchased in connection with CIB's secondary market-making activities | 64 | 34 |
Residential mortgage | Prime / Alt-A & Option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 88,700 | 96,300 |
Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 25,200 | 28,400 |
Residential mortgage | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 2,100 | 1,100 |
Residential mortgage | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 115 | 185 |
Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 125,600 | 129,600 |
Commercial and other | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 3,800 | 3,700 |
Commercial and other | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 239 | 194 |
VIEs consolidated by the Firm | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 1,800 | 3,700 |
VIEs consolidated by the Firm | Residential mortgage | Prime / Alt-A & Option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 1,500 | 2,700 |
VIEs consolidated by the Firm | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 100 | 800 |
VIEs consolidated by the Firm | Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 200 | 200 |
Not Primary Beneficiary | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 184,448 | 198,391 |
Interest in securitized assets in nonconsolidated VIEs | 6,400 | 5,200 |
Not Primary Beneficiary | Loans reported as trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 1,100 | 1,000 |
Not Primary Beneficiary | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 5,300 | 4,200 |
Not Primary Beneficiary | Residential mortgage | Prime / Alt-A & Option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 73,779 | 78,294 |
Interest in securitized assets in nonconsolidated VIEs | 2,200 | 1,200 |
Not Primary Beneficiary | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 23,300 | 25,659 |
Interest in securitized assets in nonconsolidated VIEs | 100 | 100 |
Not Primary Beneficiary | Residential mortgage | Loans reported as trading assets | Prime / Alt-A & Option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 500 | 500 |
Not Primary Beneficiary | Residential mortgage | Loans reported as trading assets | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 100 | 100 |
Not Primary Beneficiary | Residential mortgage | AFS securities | Prime / Alt-A & Option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 1,700 | 700 |
Not Primary Beneficiary | Residential mortgage | AFS securities | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 0 | 0 |
Not Primary Beneficiary | Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 87,369 | 94,438 |
Interest in securitized assets in nonconsolidated VIEs | 4,100 | 3,900 |
Not Primary Beneficiary | Commercial and other | Loans reported as trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 500 | 400 |
Not Primary Beneficiary | Commercial and other | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | $ 3,600 | $ 3,500 |
Variable interest entities - Re
Variable interest entities - Resecuritizations, Multi-seller conduits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||||
Variable Interest Entity [Line Items] | ||||||||
Securities transferred to agency resecuritization VIEs | $ 6,600 | $ 7,500 | $ 16,800 | $ 20,800 | ||||
Securities transferred to private-label re-securitization VIEs | 50 | 237 | 777 | 670 | ||||
Total assets (including notional amount of interest-only securities) | 2,417,121 | [1] | 2,526,655 | 2,417,121 | [1] | 2,526,655 | $ 2,572,773 | [1] |
Unfunded lending-related commitments | 940,786 | $ 1,057,204 | 940,786 | $ 1,057,204 | 950,997 | |||
Nonconsolidated rirm-sponsored private-label re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Total assets (including notional amount of interest-only securities) | 2,200 | 2,200 | 2,900 | |||||
Re-securitization | Private-label re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 2 | 2 | 36 | |||||
Re-securitization | Private-label re-securitizations | Residential mortgage | ||||||||
Variable Interest Entity [Line Items] | ||||||||
VIE, consolidated, carrying amount assets | 48 | 48 | 77 | |||||
VIE, consolidated, carrying amount liabilities | 9 | 9 | 21 | |||||
Re-securitization | Re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 1,800 | 1,800 | 2,400 | |||||
Multi-seller conduits | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Commercial paper eliminated in consolidation | 6,100 | 6,100 | 5,700 | |||||
Multi-seller conduits | Commercial and other | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Unfunded lending-related commitments | $ 6,900 | $ 6,900 | $ 9,900 | |||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 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)Sep 30, 2015 Dec 31, 2014Assets Trading assets$4,237 $9,090Loans69,119 68,880All other assets2,109 1,815Total assets$75,465 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$48,733 $52,362All other liabilities821 949Total liabilities$49,554 $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 September 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 | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | $ 2,417,121 | [1] | $ 2,572,773 | [1] | $ 2,526,655 |
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 11,600 | 11,500 | |||
Liquidity facilities | 6,500 | 6,300 | |||
Excess/ (deficit) | $ 5,100 | $ 5,200 | |||
Weighted average expected life of assets (years) | 4 years 8 months 12 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] | |||||
Total 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] | |||||
Total assets | 8,200 | 8,400 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade Aplus to A- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 700 | 400 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade BBBplus to BBB- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 0 | 0 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Noninvestment-grade BBplus and below | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 0 | 0 | |||
Nonconsolidated entities | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Maximum exposure | $ 6,500 | $ 6,300 | |||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 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)Sep 30, 2015 Dec 31, 2014Assets Trading assets$4,237 $9,090Loans69,119 68,880All other assets2,109 1,815Total assets$75,465 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$48,733 $52,362All other liabilities821 949Total liabilities$49,554 $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 September 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 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 361,708 | $ 398,988 | ||||
Loans | 809,457 | 757,336 | ||||
Other | 103,381 | 102,597 | ||||
Total assets | 2,417,121 | [1] | 2,572,773 | [1] | $ 2,526,655 | |
Beneficial interests issued by consolidated VIEs | 48,733 | 52,362 | ||||
Total liabilities | [1] | 2,171,393 | 2,341,046 | |||
VIEs consolidated by the Firm | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 69,100 | 68,900 | ||||
Other | 2,100 | 1,800 | ||||
Total assets | 75,400 | 79,800 | ||||
Beneficial interests issued by consolidated VIEs | 48,700 | 52,400 | ||||
Other | 800 | 900 | ||||
Total liabilities | 49,500 | 53,300 | ||||
VIEs consolidated by the Firm | Long-term beneficial interests | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Beneficial interests issued by consolidated VIEs | 33,200 | 35,400 | ||||
VIEs consolidated by the Firm | 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 | 5,000 | |||||
VIEs consolidated by the Firm | 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 | 23,800 | |||||
VIEs consolidated by the Firm | 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 | 4,400 | |||||
VIEs consolidated by the Firm | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 4,200 | 9,100 | ||||
VIEs consolidated by the Firm | Firm-sponsored credit card trusts | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 46,700 | 48,300 | ||||
Other | 700 | 700 | ||||
Total assets | 47,400 | 49,000 | ||||
Beneficial interests issued by consolidated VIEs | 30,100 | 31,200 | ||||
Other | 0 | 0 | ||||
Total liabilities | 30,100 | 31,200 | ||||
VIEs consolidated by the Firm | 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 | ||||
VIEs consolidated by the Firm | Firm-administered multi-seller conduits | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 19,000 | 17,700 | ||||
Other | 0 | 100 | ||||
Total assets | 19,000 | 17,800 | ||||
Beneficial interests issued by consolidated VIEs | 13,000 | 12,000 | ||||
Other | 0 | 0 | ||||
Total liabilities | 13,000 | 12,000 | ||||
VIEs consolidated by the Firm | 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 | ||||
VIEs consolidated by the Firm | Municipal bond vehicles | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 0 | 0 | ||||
Other | 0 | 0 | ||||
Total assets | 2,700 | 5,300 | ||||
Beneficial interests issued by consolidated VIEs | 2,600 | 4,900 | ||||
Other | 0 | 0 | ||||
Total liabilities | 2,600 | 4,900 | ||||
VIEs consolidated by the Firm | Municipal bond vehicles | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 2,700 | 5,300 | ||||
VIEs consolidated by the Firm | Mortgage securitization entities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 1,400 | 700 | ||||
Other | 0 | 0 | ||||
Total assets | 2,600 | 4,000 | ||||
Beneficial interests issued by consolidated VIEs | 900 | 2,100 | ||||
Other | 700 | 800 | ||||
Total liabilities | 1,600 | 2,900 | ||||
VIEs consolidated by the Firm | Mortgage securitization entities | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 1,200 | 3,300 | ||||
VIEs consolidated by the Firm | 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 | 100 | 0 | ||||
Total assets | 2,200 | 2,400 | ||||
Beneficial interests issued by consolidated VIEs | 1,900 | 2,100 | ||||
Other | 0 | 0 | ||||
Total liabilities | 1,900 | 2,100 | ||||
VIEs consolidated by the Firm | 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 | ||||
VIEs consolidated by the Firm | Other | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 0 | 0 | ||||
Other | 1,300 | 1,000 | ||||
Total assets | 1,500 | 1,300 | ||||
Beneficial interests issued by consolidated VIEs | 200 | 100 | ||||
Other | 100 | 100 | ||||
Total liabilities | 300 | 200 | ||||
VIEs consolidated by the Firm | Other | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 200 | $ 300 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 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)Sep 30, 2015 Dec 31, 2014Assets Trading assets$4,237 $9,090Loans69,119 68,880All other assets2,109 1,815Total assets$75,465 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$48,733 $52,362All other liabilities821 949Total liabilities$49,554 $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 September 30, 2015, and December 31, 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable interest entities - Se
Variable interest entities - Securitization Activity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Residential mortgage | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | $ 913,000,000 | $ 484,000,000 | $ 2,600,000,000 | $ 1,100,000,000 |
Residential mortgage | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 59,000,000 | 0 | 0 | 21,000,000 |
Commercial and other | Cash | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 0 | 280,000,000 | ||
Commercial and other | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 3,000,000,000 | 3,100,000,000 | 9,000,000,000 | 7,400,000,000 |
Commercial and other | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 5,000,000 | 0 | 43,000,000 | 130,000,000 |
Securitization entities not consolidated | Residential mortgage | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 971,000,000 | 484,000,000 | 2,663,000,000 | 1,144,000,000 |
All cash flows during the period: | ||||
Proceeds from new securitizations | 972,000,000 | 484,000,000 | 2,674,000,000 | 1,147,000,000 |
Servicing fees collected | 129,000,000 | 142,000,000 | 409,000,000 | 418,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 1,000,000 | 52,000,000 | 2,000,000 | 119,000,000 |
Cash flows received on interests | 122,000,000 | 43,000,000 | 308,000,000 | 128,000,000 |
Securitization entities not consolidated | Commercial and other | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 2,982,000,000 | 3,101,000,000 | 9,033,000,000 | 7,740,000,000 |
All cash flows during the period: | ||||
Proceeds from new securitizations | 2,995,000,000 | 3,141,000,000 | 9,053,000,000 | 7,849,000,000 |
Servicing fees collected | 0 | 1,000,000 | 2,000,000 | 3,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 0 |
Cash flows received on interests | $ 172,000,000 | $ 56,000,000 | $ 379,000,000 | $ 515,000,000 |
Variable interest entities - Lo
Variable interest entities - Loans Sold to Third-Party Sponsored Securitization Entities (Details) - Nonconsolidated entities - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Summary of loan sale activities [Abstract] | |||||
Carrying value of loans sold | $ 11,394 | $ 12,396 | $ 34,193 | $ 38,919 | |
Proceeds received from loan sales as cash | 139 | 77 | 238 | 166 | |
Proceeds from loans sales as securities | 11,170 | 12,250 | 33,758 | 38,446 | |
Total proceeds received from loan sales | 11,309 | 12,327 | 33,996 | 38,612 | |
Gains on loan sales | 61 | $ 86 | 238 | $ 205 | |
Loans repurchased | 11,300 | 11,300 | $ 12,400 | ||
Real estate acquired through foreclosure | $ 327 | $ 327 | $ 464 |
Variable interest entities -125
Variable interest entities - Loan Delinquencies and Net Charge-offs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 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 | $ 239,500 | $ 239,500 | $ 254,300 | ||
Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 125,600 | 125,600 | 129,600 | ||
Securitized loans | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 16,791 | 16,791 | 19,358 | ||
Liquidation losses | 1,077 | $ 1,289 | 2,857 | $ 4,391 | |
Securitized loans in which the firm has no continuing involvement | 53,300 | 53,300 | 52,200 | ||
Securitized loans | Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 1,580 | 1,580 | 1,522 | ||
Liquidation losses | 211 | 471 | 350 | 1,113 | |
Nonconsolidated entities | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 184,448 | 184,448 | 198,391 | ||
Nonconsolidated entities | Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 87,369 | 87,369 | 94,438 | ||
VIEs consolidated by the Firm | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Assets held in consolidated securitization VIEs | 1,800 | 1,800 | 3,700 | ||
VIEs consolidated by the Firm | Commercial and other | |||||
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 | ||
Prime / Alt-A & Option ARMs | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 88,700 | 88,700 | 96,300 | ||
Prime / Alt-A & Option ARMs | Securitized loans | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 9,481 | 9,481 | 11,363 | ||
Liquidation losses | 486 | 465 | 1,402 | 1,722 | |
Prime / Alt-A & Option ARMs | Nonconsolidated entities | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 73,779 | 73,779 | 78,294 | ||
Prime / Alt-A & Option ARMs | VIEs consolidated by the Firm | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Assets held in consolidated securitization VIEs | 1,500 | 1,500 | 2,700 | ||
Subprime | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | 25,200 | 25,200 | 28,400 | ||
Subprime | Securitized loans | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 5,730 | 5,730 | 6,473 | ||
Liquidation losses | 380 | $ 353 | 1,105 | $ 1,556 | |
Subprime | Nonconsolidated entities | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 23,300 | 23,300 | 25,659 | ||
Subprime | VIEs consolidated by the Firm | Residential mortgage | |||||
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 |
Goodwill and other intangibl126
Goodwill and other intangible assets - by Business Segment (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||||||
Goodwill | $ 47,405 | $ 47,476 | $ 47,647 | $ 47,970 | $ 48,110 | $ 48,081 |
Consumer & Community Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 30,851 | 30,941 | ||||
Corporate & Investment Bank | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 6,771 | 6,780 | ||||
Commercial Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 2,861 | 2,861 | ||||
Asset Management | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 6,922 | 6,964 | ||||
Corporate | ||||||
Goodwill [Line Items] | ||||||
Goodwill | $ 0 | $ 101 |
Goodwill and other intangibl127
Goodwill and other intangible assets - Changes During Period (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Goodwill [Roll Forward] | ||||
Balance at beginning of period | $ 47,476,000,000 | $ 48,110,000,000 | $ 47,647,000,000 | $ 48,081,000,000 |
Changes during the period from: | ||||
Business combinations | 8,000,000 | 6,000,000 | 25,000,000 | 24,000,000 |
Dispositions | 0 | (1,000,000) | (101,000,000) | (1,000,000) |
Other | (79,000,000) | (145,000,000) | (166,000,000) | (134,000,000) |
Balance at end of period | 47,405,000,000 | 47,970,000,000 | 47,405,000,000 | 47,970,000,000 |
Goodwill impairment | 0 | |||
Corporate | ||||
Goodwill [Roll Forward] | ||||
Balance at beginning of period | 101,000,000 | |||
Changes during the period from: | ||||
Balance at end of period | $ 0 | $ 0 | ||
Goodwill impairment | $ 68,000,000 | $ 68,000,000 |
Goodwill and other intangibl128
Goodwill and other intangible assets - Mortgage Servicing Rights (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Mortgage servicing rights activity [Abstract] | ||||
Fair value at the beginning of the period | $ 7,571 | $ 8,347 | $ 7,436 | $ 9,614 |
MSR activity: | ||||
Originations of MSRs | 147 | 148 | 447 | 518 |
Purchase of MSRs | (4) | 3 | 435 | 9 |
Disposition of MSRs | 0 | 11 | (375) | (175) |
Net additions | 143 | 162 | 507 | 352 |
Changes due to collection/realization of expected cash flows | (233) | (216) | (677) | (702) |
Changes in valuation due to inputs and assumptions: | ||||
Changes due to market interest rates and other | (677) | (101) | (338) | (832) |
Changes in valuation due to other inputs and assumptions: | ||||
Projected cash flows (e.g., cost to service) | (76) | 44 | (103) | 33 |
Discount rates | 0 | 0 | (10) | (459) |
Prepayment model changes and other | (12) | 0 | (99) | 230 |
Total changes in valuation due to other inputs and assumptions | (88) | 44 | (212) | (196) |
Total changes in valuation due to inputs and assumptions | (765) | (57) | (550) | (1,028) |
Fair value at June 30 | 6,716 | 8,236 | 6,716 | 8,236 |
Change in unrealized gains/(losses) included in income related to MSRs | (765) | (57) | (550) | (1,028) |
Contractual service fees, late fees and other ancillary fees included in income | 634 | 701 | 1,945 | 2,189 |
Third-party mortgage loans serviced | 706,000 | 771,000 | 706,000 | 771,000 |
Net servicer advances | 6,600 | 8,600 | 6,600 | 8,600 |
MSR activity supplemental information | ||||
Commercial real estate, fair value period increase (decrease) | (1) | (1) | (3) | (5) |
Commercial real estate, fair value | $ 7 | $ 13 | $ 7 | $ 13 |
Goodwill and other intangibl129
Goodwill and other intangible assets - Mortgage Fees and Related Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Risk management: | ||||
All other | $ 0 | $ 1 | $ 2 | $ 2 |
Mortgage fees and related income | 469 | 903 | 1,957 | 2,708 |
Consumer & Community Banking | ||||
CCB mortgage fees and related income | ||||
Net production revenue | 176 | 253 | 646 | 865 |
Operating revenue: | ||||
Loan servicing revenue | 648 | 787 | 2,104 | 2,524 |
Changes in MSR asset fair value due to collection/realization of expected cash flows | (232) | (214) | (674) | (696) |
Total operating revenue | 416 | 573 | 1,430 | 1,828 |
Risk management: | ||||
Changes in MSR asset fair value due to market interest rates and other | (677) | (101) | (338) | (831) |
Other changes in MSR asset fair value due to inputs or assumptions in model | (88) | 44 | (212) | (196) |
Change in derivative fair value and other | 642 | 133 | 429 | 1,040 |
Total risk management | (123) | 76 | (121) | 13 |
Total net mortgage servicing revenue | 293 | 649 | 1,309 | 1,841 |
Mortgage fees and related income | $ 469 | $ 902 | $ 1,955 | $ 2,706 |
Goodwill and other intangibl130
Goodwill and other intangible assets - Key Economic Assumptions (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Weighted-average prepayment speed assumption (“CPR”) | 10.19% | 9.80% |
Impact on fair value of 10% adverse change | $ (297) | $ (337) |
Impact on fair value of 20% adverse change | $ (571) | $ (652) |
Weighted-average option adjusted spread | 9.09% | 9.43% |
Impact on fair value of 100 basis points adverse change | $ (265) | $ (300) |
Impact on fair value of 200 basis points adverse change | $ (510) | $ (578) |
Deposits - Noninterest and Inte
Deposits - Noninterest and Interest-bearing (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
U.S. offices | ||
Noninterest-bearing | $ 404,984 | $ 437,558 |
Interest-bearing: | ||
Demand | 77,092 | 90,319 |
Savings | 469,990 | 466,730 |
Time (included $9,497 and $7,501 at fair value) | 76,932 | 86,301 |
Total interest-bearing deposits | 624,014 | 643,350 |
Total deposits in U.S. offices | 1,028,998 | 1,080,908 |
Non-U.S. offices | ||
Noninterest-bearing | 20,174 | 19,078 |
Interest-bearing: | ||
Demand | 171,290 | 217,011 |
Savings | 1,742 | 2,673 |
Time (included $1,565 and $1,306 at fair value) | 50,902 | 43,757 |
Total interest-bearing deposits | 223,934 | 263,441 |
Total deposits in non-U.S. offices | 244,108 | 282,519 |
Total deposits | 1,273,106 | 1,363,427 |
Fair value | ||
Interest-bearing: | ||
Time (included $9,497 and $7,501 at fair value) | 9,497 | 7,501 |
Interest-bearing: | ||
Time (included $1,565 and $1,306 at fair value) | $ 1,565 | $ 1,306 |
Earnings per share (Details)
Earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic earnings per share | ||||
Net income | $ 6,804 | $ 5,565 | $ 19,008 | $ 16,814 |
Less: Preferred stock dividends | 393 | 304 | 1,097 | 799 |
Net income applicable to common equity | 6,411 | 5,261 | 17,911 | 16,015 |
Less: Dividends and undistributed earnings allocated to participating securities | 141 | 133 | 413 | 427 |
Net income applicable to common stockholders | $ 6,270 | $ 5,128 | $ 17,498 | $ 15,588 |
Total weighted-average basic shares outstanding (in shares) | 3,694.4 | 3,755.4 | 3,709.2 | 3,774.4 |
Net income per share (in dollars per share) | $ 1.70 | $ 1.37 | $ 4.72 | $ 4.13 |
Diluted earnings per share | ||||
Net income applicable to common stockholders | $ 6,270 | $ 5,128 | $ 17,498 | $ 15,588 |
Total weighted-average basic shares outstanding (in shares) | 3,694.4 | 3,755.4 | 3,709.2 | 3,774.4 |
Add: Employee stock options, SARs and warrants (in shares) | 31.2 | 33.3 | 33 | 33.9 |
Total weighted-average diluted shares outstanding (in shares) | 3,725.6 | 3,788.7 | 3,742.2 | 3,808.3 |
Net income per share (in dollars per share) | $ 1.68 | $ 1.35 | $ 4.68 | $ 4.09 |
Earnings Per Share, Diluted, Other Disclosures [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 1 | 1 |
Accumulated other comprehens133
Accumulated other comprehensive income/(loss) - Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | $ 2,189 | ||||
Net change, Unrealized gains/(losses) on investment securities | $ (291) | $ (141) | (1,621) | $ 1,928 | |
Net change, Translation adjustments, net of hedges | (5) | 3 | (12) | 13 | |
Net change, Cash flow hedges | (106) | (58) | 51 | 69 | |
Net change, Defined benefit pension and OPEB plans | 51 | 24 | 144 | 57 | |
Net change, Accumulated other comprehensive income/(loss) | (351) | (172) | (1,438) | 2,067 | |
Ending Balance | 751 | 751 | |||
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 | 3,443 | 4,867 | 4,773 | 2,798 | |
Net change, Unrealized gains/(losses) on investment securities | (291) | (141) | (1,621) | 1,928 | |
Ending Balance | 3,152 | 4,726 | 3,152 | 4,726 | |
Translation adjustments, net of hedges | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | (154) | (126) | (147) | (136) | |
Net change, Translation adjustments, net of hedges | (5) | 3 | (12) | 13 | |
Ending Balance | (159) | (123) | (159) | (123) | |
Cash flow hedges | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | 62 | (12) | (95) | (139) | |
Net change, Cash flow hedges | (106) | (58) | 51 | 69 | |
Ending Balance | (44) | (70) | (44) | (70) | |
Defined benefit pension and OPEB plans | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | (2,249) | (1,291) | (2,342) | (1,324) | |
Net change, Defined benefit pension and OPEB plans | 51 | 24 | 144 | 57 | |
Ending Balance | (2,198) | (1,267) | (2,198) | (1,267) | |
Accumulated other comprehensive income | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning Balance | 1,102 | 3,438 | 2,189 | 1,199 | |
Net change, Accumulated other comprehensive income/(loss) | (351) | (172) | (1,438) | 2,067 | |
Ending Balance | $ 751 | $ 3,266 | $ 751 | $ 3,266 |
Accumulated other comprehens134
Accumulated other comprehensive income/(loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Unrealized gains/(losses) on AFS securities: | |||||
Net change, unrealized gains/(losses) on AFS securities | $ (291) | $ (141) | $ (1,621) | $ 1,928 | |
Translation adjustments: | |||||
Net change after tax | (5) | 3 | (12) | 13 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax [Abstract] | |||||
Net change | (106) | (58) | 51 | 69 | |
Defined benefit pension and OPEB plans: | |||||
Net change, defined benefit pension and OPEB plans | 51 | 24 | 144 | 57 | |
Total other comprehensive income, after–tax | (351) | (172) | (1,438) | 2,067 | |
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 | (430) | (283) | (2,548) | 3,116 | |
Net unrealized gains/(losses) arising during the period tax effect | 160 | 146 | 1,008 | (1,158) | |
Net unrealized gains/(losses) arising during the period after tax | (270) | (137) | (1,540) | 1,958 | |
Reclassification adjustment for realized (gains)/losses included in net income before tax | (33) | (6) | (129) | (48) | |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | 12 | 2 | 48 | 18 | |
Reclassification adjustment for realized (gains)/losses included in net income after tax | (21) | (4) | (81) | (30) | |
Net change before tax | (463) | (289) | (2,677) | 3,068 | |
Net change tax effect | 172 | 148 | 1,056 | (1,140) | |
Net change, unrealized gains/(losses) on AFS securities | (291) | (141) | (1,621) | 1,928 | |
Translation adjustments, net of hedges | |||||
Translation adjustments: | |||||
Translation before tax | (912) | (1,133) | (1,645) | (761) | |
Translation tax effect | 340 | 416 | 601 | 274 | |
Translation after tax | (572) | (717) | (1,044) | (487) | |
Hedges before tax | 908 | 1,185 | 1,651 | 823 | |
Hedges tax effect | (341) | (465) | (619) | (323) | |
Hedges after tax | 567 | 720 | 1,032 | 500 | |
Net change before tax | (4) | 52 | 6 | 62 | |
Net change tax effect | (1) | (49) | (18) | (49) | |
Net change after tax | (5) | 3 | (12) | 13 | |
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 | (175) | (66) | (104) | 149 | |
Net unrealized gains/(losses) arising during the period tax effect | 66 | 27 | 38 | (60) | |
Net unrealized gains/(losses) arising during the period after tax | (109) | (39) | (66) | 89 | |
Reclassification adjustment for realized (gains)/losses included in net income before tax | 5 | (31) | 187 | (33) | |
Reclassification adjustment for realized (gains)/losses included in net income tax effect | (2) | 12 | (70) | 13 | |
Reclassification adjustment for realized (gains)/losses included in net income after tax | 3 | (19) | 117 | (20) | |
Net change before tax | (170) | (97) | 83 | 116 | |
Net change tax effect | 64 | 39 | (32) | (47) | |
Net change | (106) | (58) | 51 | 69 | |
Defined benefit pension and OPEB plans | |||||
Defined benefit pension and OPEB plans: | |||||
Net gains/(losses) arising during the period before tax | 0 | (1) | 101 | 87 | |
Net gains/(losses) arising during the period tax effect | 0 | 0 | (39) | (34) | |
Net gains/(losses) arising during the period after tax | 0 | (1) | 62 | 53 | |
Reclassification adjustments included in net income, amortization of net loss before tax | 71 | 18 | 212 | 55 | |
Reclassification adjustments included in net income, amortization of net loss tax effect | (27) | (8) | (80) | (23) | |
Reclassification adjustments included in net income, amortization of net loss after tax | 44 | 10 | 132 | 32 | |
Reclassification adjustments included in net income, prior service costs/(credits) before tax | (9) | (10) | (27) | (32) | |
Reclassification adjustments included in net income, prior service costs/(credits) tax effect | 3 | 4 | 10 | 13 | |
Reclassification adjustments included in net income, prior service costs/(credits) after tax | (6) | (6) | (17) | (19) | |
Foreign exchange and other before tax | 20 | 34 | 20 | 15 | |
Foreign exchange and other tax effect | (7) | (13) | (53) | (24) | |
Foreign exchange and other after tax | 13 | 21 | (33) | (9) | |
Net change before tax | 82 | 41 | 306 | 125 | |
Net change tax effect | (31) | (17) | (162) | (68) | |
Net change, defined benefit pension and OPEB plans | 51 | 24 | 144 | 57 | |
Accumulated other comprehensive income | |||||
Defined benefit pension and OPEB plans: | |||||
Total other comprehensive income/(loss) before tax | (555) | (293) | (2,282) | 3,371 | |
Total other comprehensive income/(loss) tax effect | 204 | 121 | 844 | (1,304) | |
Total other comprehensive income, after–tax | $ (351) | $ (172) | $ (1,438) | $ 2,067 |
Regulatory capital (Details)
Regulatory capital (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Basel III | ||
Capital ratios | ||
CET1 - Minimum capital ratios | 4.50% | |
CET1 - Well-capitalized ratios | 6.50% | |
Tier 1 - Minimum capital ratio | 6.00% | |
Tier 1 - Well capitalized ratio | 8.00% | |
Total - Minimum capital ratio | 8.00% | |
Total - 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 | $ 111,000,000 | $ 130,000,000 |
Adjustments to capital for deferred tax liabilities resulting from tax-deductible goodwill | 3,000,000,000 | 2,700,000,000 |
JPMorgan Chase & Co. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 173,577,000,000 | 164,426,000,000 |
Tier 1 capital | 199,222,000,000 | 186,294,000,000 |
Total capital | 234,462,000,000 | 221,225,000,000 |
Assets | ||
Risk-weighted | 1,503,370,000,000 | 1,472,602,000,000 |
Adjusted average | $ 2,375,809,000,000 | $ 2,465,414,000,000 |
Capital ratios | ||
CET1 | 11.50% | 11.20% |
Tier 1 | 13.30% | 12.70% |
Total | 15.60% | 15.00% |
Tier 1 leverage | 8.40% | 7.60% |
JPMorgan Chase & Co. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 173,577,000,000 | $ 164,426,000,000 |
Tier 1 capital | 199,222,000,000 | 186,294,000,000 |
Total capital | 223,962,000,000 | 210,684,000,000 |
Assets | ||
Risk-weighted | 1,502,685,000,000 | 1,608,240,000,000 |
Adjusted average | $ 2,375,809,000,000 | $ 2,465,414,000,000 |
Capital ratios | ||
CET1 | 11.60% | 10.20% |
Tier 1 | 13.30% | 11.60% |
Total | 14.90% | 13.10% |
Tier 1 leverage | 8.40% | 7.60% |
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 | $ 999,000,000 | |
JPMorgan Chase Bank, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 166,636,000,000 | $ 156,567,000,000 |
Tier 1 capital | 166,900,000,000 | 156,891,000,000 |
Total capital | 181,404,000,000 | 173,328,000,000 |
Assets | ||
Risk-weighted | 1,287,699,000,000 | 1,230,358,000,000 |
Adjusted average | $ 1,920,310,000,000 | $ 1,968,131,000,000 |
Capital ratios | ||
CET1 | 12.90% | 12.70% |
Tier 1 | 13.00% | 12.80% |
Total | 14.10% | 14.10% |
Tier 1 leverage | 8.70% | 8.00% |
JPMorgan Chase Bank, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 166,636,000,000 | $ 156,567,000,000 |
Tier 1 capital | 166,900,000,000 | 156,891,000,000 |
Total capital | 174,626,000,000 | 166,331,000,000 |
Assets | ||
Risk-weighted | 1,260,657,000,000 | 1,330,175,000,000 |
Adjusted average | $ 1,920,310,000,000 | $ 1,968,131,000,000 |
Capital ratios | ||
CET1 | 13.20% | 11.80% |
Tier 1 | 13.20% | 11.80% |
Total | 13.90% | 12.50% |
Tier 1 leverage | 8.70% | 8.00% |
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 | $ 420,000,000 | |
Chase Bank USA, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 15,256,000,000 | $ 14,556,000,000 |
Tier 1 capital | 15,256,000,000 | 14,556,000,000 |
Total capital | 21,201,000,000 | 20,517,000,000 |
Assets | ||
Risk-weighted | 101,533,000,000 | 103,468,000,000 |
Adjusted average | $ 133,525,000,000 | $ 128,111,000,000 |
Capital ratios | ||
CET1 | 15.00% | 14.10% |
Tier 1 | 15.00% | 14.10% |
Total | 20.90% | 19.80% |
Tier 1 leverage | 11.40% | 11.40% |
Chase Bank USA, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 15,256,000,000 | $ 14,556,000,000 |
Tier 1 capital | 15,256,000,000 | 14,556,000,000 |
Total capital | 19,906,000,000 | 19,206,000,000 |
Assets | ||
Risk-weighted | 149,813,000,000 | 157,565,000,000 |
Adjusted average | $ 133,525,000,000 | $ 128,111,000,000 |
Capital ratios | ||
CET1 | 10.20% | 9.20% |
Tier 1 | 10.20% | 9.20% |
Total | 13.30% | 12.20% |
Tier 1 leverage | 11.40% | 11.40% |
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 |
Off-balance sheet lending-re136
Off-balance sheet lending-related financial instruments, guarantees and other commitments (Details) - USD ($) $ in Millions | 9 Months Ended | |||||
Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | $ 940,786 | $ 950,997 | $ 1,057,204 | |||
Off-balance sheet lending-related financial commitments, Carrying value | 1,175 | 1,176 | ||||
Allowance for lending-related commitments | 184 | $ 231 | 275 | 391 | $ 436 | $ 681 |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Standby letters of credit, unissued commitments | 45,100 | 45,600 | ||||
Unfunded commitments investments private equity funds third party | 57 | 147 | ||||
Unfunded commitments investments other equity investments | 1,400 | 961 | ||||
Investments entities that calculate net asset value per share, unfunded commitments | 53 | 150 | ||||
Commitments to noninvestment-grade counterparties in connection with leveraged finance activities | 30,300 | 23,400 | ||||
Maximum | ||||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Secured clearance advance facility maximum outstanding commitment | 10,900 | 12,600 | ||||
Wholesale | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 354,348 | $ 470,991 | ||||
Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 661,243 | |||||
Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 115,770 | |||||
Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 146,076 | |||||
Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 17,697 | |||||
Consumer Loan | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 586,438 | 584,116 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 14 | 13 | ||||
Consumer Loan | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 564,014 | |||||
Consumer Loan | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 11,065 | |||||
Consumer Loan | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 1,883 | |||||
Consumer Loan | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 9,476 | |||||
Total consumer, excluding credit card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 60,005 | 58,153 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 14 | 13 | ||||
Total consumer, excluding credit card | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 37,581 | |||||
Total consumer, excluding credit card | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 11,065 | |||||
Total consumer, excluding credit card | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 1,883 | |||||
Total consumer, excluding credit card | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 9,476 | |||||
Home equity | Senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 10,861 | 11,807 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | ||||
Home equity | Junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 12,387 | 14,859 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | ||||
Home equity | Expires in 1 year or less | Senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 1,632 | |||||
Home equity | Expires in 1 year or less | Junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 2,604 | |||||
Home equity | Expires after 1 year through 3 years | Senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4,082 | |||||
Home equity | Expires after 1 year through 3 years | Junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4,782 | |||||
Home equity | Expires after 3 years through 5 years | Senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 835 | |||||
Home equity | Expires after 3 years through 5 years | Junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 793 | |||||
Home equity | Expires after 5 years | Senior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4,312 | |||||
Home equity | Expires after 5 years | Junior lien | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4,208 | |||||
Mortgage | Warranty Reserves | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Allowance for lending-related commitments | 184 | 275 | ||||
Mortgage | Prime | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 13,959 | 8,579 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | ||||
Mortgage | Expires in 1 year or less | Prime | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 13,959 | |||||
Mortgage | Expires after 1 year through 3 years | Prime | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 0 | |||||
Mortgage | Expires after 3 years through 5 years | Prime | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 0 | |||||
Mortgage | Expires after 5 years | Prime | ||||||
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 | 9,986 | 10,462 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 2 | 2 | ||||
Auto | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 8,380 | |||||
Auto | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 1,416 | |||||
Auto | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 165 | |||||
Auto | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 25 | |||||
Business banking | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 12,358 | 11,894 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 12 | 11 | ||||
Business banking | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 10,998 | |||||
Business banking | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 781 | |||||
Business banking | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 90 | |||||
Business banking | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 489 | |||||
Student and other | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 454 | 552 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | ||||
Student and other | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 8 | |||||
Student and other | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4 | |||||
Student and other | Expires after 3 years through 5 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 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 442 | |||||
Credit card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 526,433 | 525,963 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | ||||
Credit card | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 526,433 | |||||
Credit card | Expires after 1 year through 3 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 3 years through 5 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 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 0 | |||||
Total wholesale | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 354,348 | 366,881 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | $ 1,161 | $ 1,163 | ||||
Total wholesale | 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 | 77.00% | 73.00% | ||||
Total wholesale | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | $ 97,229 | |||||
Total wholesale | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 104,705 | |||||
Total wholesale | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 144,193 | |||||
Total wholesale | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 8,221 | |||||
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 | 265,073 | $ 272,676 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 386 | 374 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Risk participations for other unfunded commitments to extend credit | 321 | 243 | ||||
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 13,000 | 14,800 | ||||
Other unfunded commitments to extend credit | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 70,201 | |||||
Other unfunded commitments to extend credit | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 77,449 | |||||
Other unfunded commitments to extend credit | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 110,713 | |||||
Other unfunded commitments to extend credit | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 6,710 | |||||
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 | 85,268 | 89,874 | ||||
Off-balance sheet lending-related financial commitments, Carrying value | 774 | 788 | ||||
Allowance for lending-related commitments | 334 | 234 | ||||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | ||||||
Risk participations for standby letters of credit and other financial guarantees | 11,700 | 13,000 | ||||
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 10,000 | 13,300 | ||||
Standby letters of credit and other financial guarantees | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 23,666 | |||||
Standby letters of credit and other financial guarantees | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 26,670 | |||||
Standby letters of credit and other financial guarantees | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 33,421 | |||||
Standby letters of credit and other financial guarantees | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 1,511 | |||||
Other letters of credit | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 4,007 | 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] | ||||||
Risk participations for other letters of credit | 409 | 469 | ||||
Other letters of credit | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 3,362 | |||||
Other letters of credit | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 586 | |||||
Other letters of credit | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Off-balance sheet lending-related financial commitments, Contractual amount | 59 | |||||
Other letters of credit | Expires after 5 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 | 184,227 | 171,059 | ||||
Guarantor obligations, 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 | 190,300 | 177,100 | ||||
Securities lending indemnification agreements and guarantees | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 184,227 | |||||
Securities lending indemnification agreements and guarantees | Expires after 1 year through 3 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 3 years through 5 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 5 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 | 52,189 | 53,589 | ||||
Guarantor obligations, Carrying value | 258 | 80 | ||||
Derivatives qualifying as guarantees | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 1,421 | |||||
Derivatives qualifying as guarantees | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 441 | |||||
Derivatives qualifying as guarantees | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 11,337 | |||||
Derivatives qualifying as guarantees | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 38,990 | |||||
Unsettled reverse repurchase and securities borrowing agreements | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 56,525 | 40,993 | ||||
Guarantor obligations, Carrying value | 0 | 0 | ||||
Unsettled reverse repurchase and securities borrowing agreements | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 56,525 | |||||
Unsettled reverse repurchase and securities borrowing agreements | Expires after 1 year through 3 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 3 years through 5 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 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 0 | |||||
Loans sold with recourse | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Loan sale and securitization-related indemnifications, Contractual amount | 4,685 | 6,063 | ||||
Loan sale and securitization-related indemnifications, Carrying value | 89 | 102 | ||||
Other guarantees and commitments | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 6,810 | 5,720 | ||||
Guarantor obligations, Carrying value | (101) | (121) | ||||
Other guarantees and commitments | Expires in 1 year or less | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 1,429 | |||||
Other guarantees and commitments | Expires after 1 year through 3 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 1,556 | |||||
Other guarantees and commitments | Expires after 3 years through 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 2,206 | |||||
Other guarantees and commitments | Expires after 5 years | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | 1,619 | |||||
Letters of credit hedged by derivative transactions | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Other guarantees and commitments, Contractual amount | $ 4,600 | $ 4,500 | ||||
Days Past Due, 60 or More [Member] | Credit card | ||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||||||
Line of credit close criteria, period past due | 60 days |
Off-balance sheet lending-re137
Off-balance sheet lending-related financial instruments, guarantees and other commitments - Standby Letters of Credit and Other Financial Guarantees (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Total lending-related commitments | $ 940,786 | $ 950,997 | $ 1,057,204 | |||
Allowance for lending-related commitments | 184 | $ 231 | 275 | $ 391 | $ 436 | $ 681 |
Derivatives qualifying as guarantees | ||||||
Notional amount on stable value contracts | 52,018,000 | 63,662,000 | ||||
Standby and Other Letters of Credit | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Carrying values of standby and other letters of credit | 775 | 789 | ||||
Allowance for lending-related commitments | 335 | 235 | ||||
Guarantee liability and corresponding asset | 440 | 554 | ||||
Standby letters of credit and other financial guarantees | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Investment-grade | 60,841 | 66,856 | ||||
Noninvestment-grade | 24,427 | 23,018 | ||||
Total lending-related commitments | 85,268 | 89,874 | ||||
Allowance for lending-related commitments | 334 | 234 | ||||
Commitments with collateral | 36,148 | 39,726 | ||||
Other letters of credit | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Investment-grade | 3,362 | 3,476 | ||||
Noninvestment-grade | 645 | 855 | ||||
Total lending-related commitments | 4,007 | 4,331 | ||||
Allowance for lending-related commitments | 1 | 1 | ||||
Commitments with collateral | 1,126 | 1,509 | ||||
Derivatives qualifying as guarantees | ||||||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | ||||||
Guarantee liability and corresponding asset | 258 | 80 | ||||
Derivatives qualifying as guarantees | ||||||
Total notional value of derivatives the Firm deems guarantees | 52,189 | 53,589 | ||||
Notional amount on stable value contracts | 28,200 | 27,500 | ||||
Maximum exposure to loss | 3,000 | 2,900 | ||||
Derivative qualifying as guarantees payables | 279 | 102 | ||||
Derivative qualifying as guarantees receivables | $ 21 | $ 22 |
Off-balance sheet lending-re138
Off-balance sheet lending-related financial instruments, guarantees and other commitments - Loan Sales- and Securitization-Related Indemnifications (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Summary of changes in mortgage repurchase liability | |||||
Repurchase liability at beginning of period | $ 231 | $ 436 | $ 275 | $ 681 | |
Net realized gains/(losses) | 1 | 17 | 18 | 36 | |
(Benefit)/provision for repurchase | (48) | (62) | (109) | (326) | |
Repurchase liability at end of period | 184 | 391 | 184 | 391 | |
Loans sold with recourse | |||||
Loans sold with recourse | |||||
Unpaid principal balance of loans sold with recourse | 4,685 | 4,685 | $ 6,063 | ||
Carrying value of related liability for recourse obligations | 89 | 89 | $ 102 | ||
Warranty Reserves | Mortgage | |||||
Summary of changes in mortgage repurchase liability | |||||
Repurchase liability at beginning of period | 275 | ||||
Repurchase liability at end of period | 184 | 184 | |||
Repurchase make-whole settlements | Warranty Reserves | Mortgage | |||||
Summary of changes in mortgage repurchase liability | |||||
Net realized gains/(losses) | (2) | (5) | (6) | (8) | |
Reserves for New Mortgage Loans Sold During the Period | Warranty Reserves | Mortgage | |||||
Summary of changes in mortgage repurchase liability | |||||
Provision related to new loan sales | $ 1 | $ 1 | $ 3 | $ 3 |
Pledged assets and collateral (
Pledged assets and collateral (Details) - USD ($) $ in Billions | Sep. 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 | $ 51.8 | $ 60.1 |
Fair value of financial assets accepted as collateral to sell or repledge, deliver or otherwise use | 781.8 | 761.7 |
Collateral received that was sold or repledged | 636.7 | 596.8 |
Assets pledged to Federal Reserve Banks and Federal Home Loan Banks | ||
Pledged assets and Collateral | ||
Pledged assets | $ 364.7 | $ 324.5 |
Litigation (Details)
Litigation (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||
Oct. 31, 2015USD ($) | Jul. 31, 2015USD ($)plantiffs | May. 31, 2015USD ($) | May. 31, 2010USD ($) | Sep. 30, 2015USD ($)actionentityclaiminvestortrust | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)offeringtransactionactionentityclaiminvestordefendanttrustmunicipality | Sep. 30, 2014USD ($) | Mar. 31, 2014action | Sep. 30, 2013action | Mar. 31, 2013action | Mar. 31, 2012employee | |
CIO Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 7 | 7 | ||||||||||
CIO Investigations and Litigation | Litigation Dismissed | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 6 | 6 | ||||||||||
CIO Investigations and Litigation | Appealed Dismissals | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Claims dismissed | claim | 4 | |||||||||||
CIO Investigations and Litigation | Dismissal affirmed on appeal | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Claims dismissed | claim | 1 | |||||||||||
Madoff Litigation and Investigations | New York federal and state court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 3 | 3 | ||||||||||
Loss Contingency, Claims Dismissed but on Appeal, Number | action | 2 | |||||||||||
Threatened or Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Firmwide legal expense | $ 1,347,000,000 | $ 1,062,000,000 | $ 2,325,000,000 | $ 1,769,000,000 | ||||||||
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 | $ 5,000,000,000 | $ 5,000,000,000 | ||||||||||
Foreign Exchange Investigations and Litigation | Total international | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 2 | |||||||||||
Foreign Exchange Investigations and Litigation | CANADA | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 2 | 2 | ||||||||||
Foreign Exchange Investigations and Litigation | U.S. Department of Justice | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | $ 550,000,000 | |||||||||||
Foreign Exchange Investigations and Litigation | Federal Reserve | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | $ 342,000,000 | |||||||||||
General Motors Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 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% | |||||||||||
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 | action | 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 | |||||||||||
Collateral Returned | $ 700,000,000 | |||||||||||
Lehman Brothers Bankruptcy Proceedings | Minimum | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought, counterclaims value (more than) | 25,000,000,000 | |||||||||||
Lehman Brothers Bankruptcy Proceedings | Claims Relating to Derivatives Transactions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought, counterclaims value (more than) | $ 1,900,000,000 | |||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 3 | 3 | 2 | 3 | ||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | Alleged Manipulation of Euroven TIBOR and Yen LIBOR | Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of defendants | defendant | 1 | |||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | Second Claim Related to Euroven TIBOR and Yen LIBOR Alleged Manipulation | Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of defendants | defendant | 1 | |||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | Interest Rate Benchmark EURIBOR | Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of defendants | defendant | 1 | |||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | Defendant Banks and ICAP Manipulation of U.S. Dollar ISDAFIX Rates | Pending Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of defendants | defendant | 1 | |||||||||||
Madoff Litigation | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 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 | action | 5 | 5 | ||||||||||
Mortgage-Backed Securities and Repurchase Litigation and Related 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 | $ 13,200,000,000 | $ 13,200,000,000 | ||||||||||
Amount of original principal balance of MBS involved claims by investors or monoline insurers against JPMC, Bear Stearns or Washington Mutual as issuer | 11,500,000,000 | 11,500,000,000 | ||||||||||
Amount of original principal balance of MBS involved claims by investors or monoline insurers against JPMC, Bear Stearns or Washington Mutual as underwriter | $ 1,700,000,000 | $ 1,700,000,000 | ||||||||||
Mortgage-Backed Securities and Repurchase Litigation and Related Regulatory Investigations | New York State Court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Claims dismissed | action | 2 | |||||||||||
Loss Contingency, Claims Dismissed but on Appeal, Number | 1 | |||||||||||
Mortgage-Backed Securities and Repurchase Litigation and Related Regulatory Investigations | U.S. Department of Justice | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Loss Contingency, Parties Investigating, Number | action | 2 | |||||||||||
MBS Litigation Related to MBS Offerings Sponsored By EMC | Monoline Insurer | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 2 | 2 | ||||||||||
Number of offerings by entity related to filed suit | offering | 11 | |||||||||||
MBS Litigation Related to MBS Offerings Sponsored By EMC | Underwriter actions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 1 | 1 | ||||||||||
MBS Litigation Related to MBS Offerings Sponsored By Washington Mutual | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of MBS transactions (or more) issued | transaction | 1 | |||||||||||
Number of institutional MBS investors directing or threatening litigation | investor | 21 | 21 | ||||||||||
MBS Litigation Related to MBS Offerings Issued By JPMC and Bear Stearns | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | trust | 4 | 4 | ||||||||||
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 whole or in part | 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 | action | 1 | 1 | ||||||||||
Number of municipalities pursuing investigations into the impact if any of alleged violations of the FHA and ECOA on their respective communities | municipality | 3 | |||||||||||
Mortgage-Related Investigations and Litigation | Shareholder Derivative Action | New York State Supreme Court | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 1 | 1 | ||||||||||
Municipal Derivatives 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 | employee | 4 | |||||||||||
Parmalat | Claims Relating to Derivatives Transactions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | claim | 2 | 2 | ||||||||||
Parmalat | Civil Action | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 5 | 5 | ||||||||||
Parmalat | Claw-back Actions | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Number of legal proceedings | action | 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 | entity | 3 | 3 | ||||||||||
Number of credit facilities entered into with Polaroid | entity | 2 | 2 | ||||||||||
Sworn Documents, Debt Sales and Collection Litigation Practices | Attorneys General | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | $ 96,000,000 | |||||||||||
Number of plaintiffs | plantiffs | 47 | |||||||||||
Investigative costs | $ 11,000,000 | |||||||||||
Sworn Documents, Debt Sales and Collection Litigation Practices | Attorneys General | Subsequent Event | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | $ 50,000,000 | |||||||||||
Sworn Documents, Debt Sales and Collection Litigation Practices | Consumer Financial Protection Bureau | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | 30,000,000 | |||||||||||
Sworn Documents, Debt Sales and Collection Litigation Practices | The Office of the Comptroller of the Currency | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Settlement agreement, consideration | $ 30,000,000 | |||||||||||
Washington Mutual Litigations | Minimum | Plaintiff, Deutsche Bank National Trust Company | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | $ 6,000,000,000 | |||||||||||
Washington Mutual Litigations | Maximum | Plaintiff, Deutsche Bank National Trust Company | ||||||||||||
Loss Contingencies [Line Items] | ||||||||||||
Damages sought value (more than $1billion) | $ 10,000,000,000 |
Business segments (Details)
Business segments (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)segment | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | [1] | |||
Segment Reporting Information [Line Items] | ||||||||
Number of reportable segments | segment | 4 | |||||||
Noninterest revenue | $ 11,856 | $ 13,362 | $ 38,373 | $ 39,790 | ||||
Net interest income | 10,924 | 11,107 | 32,285 | 32,572 | ||||
Total net revenue | 22,780 | 24,469 | 70,658 | 72,362 | ||||
Provision for credit losses | 682 | 757 | 2,576 | 2,299 | ||||
Noninterest expense | 15,368 | 15,798 | 44,751 | 45,865 | ||||
Income before income tax expense/(benefit) | 6,730 | 7,914 | 23,331 | 24,198 | ||||
Income tax expense/(benefit) | (74) | 2,349 | 4,323 | 7,384 | ||||
Net income | 6,804 | 5,565 | 19,008 | 16,814 | ||||
Average common equity | 217,023 | 209,621 | 214,389 | 205,888 | ||||
Total assets | $ 2,417,121 | [1] | $ 2,526,655 | $ 2,417,121 | [1] | $ 2,526,655 | $ 2,572,773 | |
Return on common equity | 12.00% | 10.00% | 11.00% | 10.00% | ||||
Overhead ratio | 67.00% | 65.00% | 63.00% | 63.00% | ||||
Operating Segments | Consumer & Community Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 3,729 | $ 4,214 | $ 11,554 | $ 12,116 | ||||
Net interest income | 7,150 | 7,153 | 21,044 | 21,303 | ||||
Total net revenue | 10,879 | 11,367 | 32,598 | 33,419 | ||||
Provision for credit losses | 389 | 902 | 2,021 | 2,570 | ||||
Noninterest expense | 6,237 | 6,305 | 18,637 | 19,198 | ||||
Income before income tax expense/(benefit) | 4,253 | 4,160 | 11,940 | 11,651 | ||||
Income tax expense/(benefit) | 1,623 | 1,631 | 4,558 | 4,645 | ||||
Net income | 2,630 | 2,529 | 7,382 | 7,006 | ||||
Average common equity | 51,000 | 51,000 | 51,000 | 51,000 | ||||
Total assets | $ 484,253 | $ 448,033 | $ 484,253 | $ 448,033 | ||||
Return on common equity | 20.00% | 19.00% | 18.00% | 18.00% | ||||
Overhead ratio | 57.00% | 55.00% | 57.00% | 57.00% | ||||
Operating Segments | Corporate & Investment Bank | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 5,748 | $ 6,129 | $ 19,055 | $ 18,874 | ||||
Net interest income | 2,420 | 2,976 | 7,418 | 8,338 | ||||
Total net revenue | 8,168 | 9,105 | 26,473 | 27,212 | ||||
Provision for credit losses | 232 | (67) | 251 | (102) | ||||
Noninterest expense | 6,131 | 6,035 | 16,925 | 17,697 | ||||
Income before income tax expense/(benefit) | 1,805 | 3,137 | 9,297 | 9,617 | ||||
Income tax expense/(benefit) | 341 | 1,457 | 2,955 | 3,681 | ||||
Net income | 1,464 | 1,680 | 6,342 | 5,936 | ||||
Average common equity | 62,000 | 61,000 | 62,000 | 61,000 | ||||
Total assets | $ 801,133 | $ 873,971 | $ 801,133 | $ 873,971 | ||||
Return on common equity | 8.00% | 10.00% | 13.00% | 12.00% | ||||
Overhead ratio | 75.00% | 66.00% | 64.00% | 65.00% | ||||
Operating Segments | Commercial Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 522 | $ 571 | $ 1,767 | $ 1,706 | ||||
Net interest income | 1,122 | 1,132 | 3,358 | 3,406 | ||||
Total net revenue | 1,644 | 1,703 | 5,125 | 5,112 | ||||
Provision for credit losses | 82 | (79) | 325 | (141) | ||||
Noninterest expense | 719 | 668 | 2,131 | 2,029 | ||||
Income before income tax expense/(benefit) | 843 | 1,114 | 2,669 | 3,224 | ||||
Income tax expense/(benefit) | 325 | 443 | 1,028 | 1,282 | ||||
Net income | 518 | 671 | 1,641 | 1,942 | ||||
Average common equity | 14,000 | 14,000 | 14,000 | 14,000 | ||||
Total assets | $ 201,157 | $ 191,563 | $ 201,157 | $ 191,563 | ||||
Return on common equity | 14.00% | 18.00% | 15.00% | 18.00% | ||||
Overhead ratio | 44.00% | 39.00% | 42.00% | 40.00% | ||||
Operating Segments | Asset Management | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 2,261 | $ 2,422 | $ 7,189 | $ 7,020 | ||||
Net interest income | 633 | 624 | 1,885 | 1,808 | ||||
Total net revenue | 2,894 | 3,046 | 9,074 | 8,828 | ||||
Provision for credit losses | (17) | 9 | (13) | 1 | ||||
Noninterest expense | 2,109 | 2,081 | 6,690 | 6,218 | ||||
Income before income tax expense/(benefit) | 802 | 956 | 2,397 | 2,609 | ||||
Income tax expense/(benefit) | 327 | 366 | 969 | 996 | ||||
Net income | 475 | 590 | 1,428 | 1,613 | ||||
Average common equity | 9,000 | 9,000 | 9,000 | 9,000 | ||||
Total assets | $ 131,412 | $ 130,296 | $ 131,412 | $ 130,296 | ||||
Return on common equity | 20.00% | 25.00% | 20.00% | 23.00% | ||||
Overhead ratio | 73.00% | 68.00% | 74.00% | 70.00% | ||||
Operating Segments | Corporate | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 73 | $ 450 | $ 213 | $ 1,325 | ||||
Net interest income | (123) | (525) | (597) | (1,560) | ||||
Total net revenue | (50) | (75) | (384) | (235) | ||||
Provision for credit losses | (4) | (8) | (8) | (29) | ||||
Noninterest expense | 172 | 709 | 368 | 723 | ||||
Income before income tax expense/(benefit) | (218) | (776) | (744) | (929) | ||||
Income tax expense/(benefit) | (1,935) | (871) | (2,959) | (1,246) | ||||
Net income | 1,717 | 95 | 2,215 | 317 | ||||
Average common equity | 81,023 | 74,621 | 78,389 | 70,888 | ||||
Total assets | 799,166 | 882,792 | 799,166 | 882,792 | ||||
Reconciling Items | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | (477) | (424) | (1,405) | (1,251) | ||||
Net interest income | (278) | (253) | (823) | (723) | ||||
Total net revenue | (755) | (677) | (2,228) | (1,974) | ||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||
Noninterest expense | 0 | 0 | 0 | 0 | ||||
Income before income tax expense/(benefit) | (755) | (677) | (2,228) | (1,974) | ||||
Income tax expense/(benefit) | (755) | (677) | (2,228) | (1,974) | ||||
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 September 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)Sep 30, 2015 Dec 31, 2014Assets Trading assets$4,237 $9,090Loans69,119 68,880All other assets2,109 1,815Total assets$75,465 $79,785Liabilities Beneficial interests issued by consolidated variable interest entities$48,733 $52,362All other liabilities821 949Total liabilities$49,554 $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 September 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. |