Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2016shares | |
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, 2016 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock Shares Outstanding | 3,578,264,278 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Revenue | ||||
Investment banking fees | $ 1,866 | $ 1,604 | $ 4,843 | $ 5,231 |
Principal transactions | 3,451 | 2,367 | 9,106 | 8,856 |
Lending- and deposit-related fees | 1,484 | 1,463 | 4,290 | 4,244 |
Asset management, administration and commissions | 3,597 | 3,845 | 10,902 | 11,667 |
Securities gains | 64 | 33 | 136 | 129 |
Mortgage fees and related income | 624 | 469 | 1,980 | 1,957 |
Card income | 1,202 | 1,447 | 3,861 | 4,493 |
Other income | 782 | 628 | 2,844 | 1,796 |
Noninterest revenue | 13,070 | 11,856 | 37,962 | 38,373 |
Interest income | 14,070 | 12,739 | 41,435 | 37,818 |
Interest expense | 2,467 | 1,815 | 7,105 | 5,533 |
Net interest income | 11,603 | 10,924 | 34,330 | 32,285 |
Total net revenue | 24,673 | 22,780 | 72,292 | 70,658 |
Provision for credit losses | 1,271 | 682 | 4,497 | 2,576 |
Noninterest expense | ||||
Compensation expense | 7,669 | 7,320 | 23,107 | 23,057 |
Occupancy expense | 899 | 965 | 2,681 | 2,821 |
Technology, communications and equipment expense | 1,741 | 1,546 | 5,024 | 4,536 |
Professional and outside services | 1,665 | 1,776 | 4,913 | 5,178 |
Marketing | 825 | 704 | 2,200 | 1,937 |
Other expense | 1,664 | 3,057 | 4,013 | 7,222 |
Total noninterest expense | 14,463 | 15,368 | 41,938 | 44,751 |
Income before income tax expense/(benefit) | 8,939 | 6,730 | 25,857 | 23,331 |
Income tax expense/(benefit) | 2,653 | (74) | 7,851 | 4,323 |
Net income | 6,286 | 6,804 | 18,006 | 19,008 |
Net income applicable to common stockholders | $ 5,747 | $ 6,270 | $ 16,403 | $ 17,498 |
Net income per common share data | ||||
Basic earnings per share (in dollars per share) | $ 1.60 | $ 1.70 | $ 4.51 | $ 4.72 |
Diluted earnings per share (in dollars per share) | $ 1.58 | $ 1.68 | $ 4.48 | $ 4.68 |
Weighted-average basic shares (in shares) | 3,597.4 | 3,694.4 | 3,634.4 | 3,709.2 |
Weighted-average diluted shares (in shares) | 3,629.6 | 3,725.6 | 3,664.3 | 3,742.2 |
Cash dividends declared per common share (in dollars per share) | $ 0.48 | $ 0.44 | $ 1.4 | $ 1.28 |
Other-than-temporary impairment losses included in securities gains | ||||
Total credit losses recognized in income | $ (9) | $ (12) | $ (38) | $ (14) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 6,286 | $ 6,804 | $ 18,006 | $ 19,008 |
Other comprehensive income/(loss), after–tax | ||||
Unrealized gains/(losses) on investment securities | (160) | (291) | 1,132 | (1,621) |
Translation adjustments, net of hedges | 4 | (5) | 5 | (12) |
Cash flow hedges | 36 | (106) | (121) | 51 |
Defined benefit pension and OPEB plans | 42 | 51 | 123 | 144 |
DVA on fair value option elected liabilities | (66) | (11) | ||
Total other comprehensive income/(loss), after–tax | (144) | (351) | 1,128 | (1,438) |
Comprehensive income | $ 6,142 | $ 6,453 | $ 19,134 | $ 17,570 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |
Assets | |||
Cash and due from banks | $ 21,390 | $ 20,490 | |
Deposits with banks | 396,200 | 340,015 | |
Federal funds sold and securities purchased under resale agreements (included $22,986 and $23,141 at fair value) | 232,637 | 212,575 | |
Securities borrowed (included $0 and $395 at fair value) | 109,197 | 98,721 | |
Trading assets (included assets pledged of $123,775 and $115,284) | 374,837 | 343,839 | |
Securities (included $220,390 and $241,754 at fair value and assets pledged of $18,501 and $14,883) | 272,401 | 290,827 | |
Loans (included $1,911 and $2,861 at fair value) | 888,054 | 837,299 | |
Allowance for loan losses | (14,204) | (13,555) | |
Loans, net of allowance for loan losses | 873,850 | 823,744 | |
Accrued interest and accounts receivable | 64,333 | 46,605 | |
Premises and equipment | 14,208 | 14,362 | |
Goodwill | 47,302 | 47,325 | |
Mortgage servicing rights | 4,937 | 6,608 | |
Other intangible assets | 887 | 1,015 | |
Other assets (included $7,561 and $7,604 at fair value and assets pledged of $1,522 and $1,286) | 108,850 | 105,572 | |
Total assets | [1] | 2,521,029 | 2,351,698 |
Liabilities | |||
Deposits (included $12,991 and $12,516 at fair value) | 1,376,138 | 1,279,715 | |
Federal funds purchased and securities loaned or sold under repurchase agreements (included $1,436 and $3,526 at fair value) | 168,491 | 152,678 | |
Commercial paper | 12,258 | 15,562 | |
Other borrowed funds (included $10,021 and $9,911 at fair value) | 24,479 | 21,105 | |
Trading liabilities | 143,269 | 126,897 | |
Accounts payable and other liabilities (included $7,390 and $4,401 at fair value) | 190,412 | 177,638 | |
Beneficial interests issued by consolidated VIEs | 42,233 | 41,879 | |
Long-term debt (included $38,722 and $33,065 at fair value) | 309,418 | 288,651 | |
Total liabilities | [1] | 2,266,698 | 2,104,125 |
Commitments and contingencies | |||
Stockholders’ equity | |||
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,606,750 shares) | 26,068 | 26,068 | |
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 | 92,103 | 92,500 | |
Retained earnings | 157,870 | 146,420 | |
Accumulated other comprehensive income | 1,474 | 192 | |
Shares held in restricted stock units (“RSU”) Trust, at cost (472,953 shares) | (21) | (21) | |
Treasury stock, at cost (526,669,617 and 441,459,392 shares) | (27,268) | (21,691) | |
Total stockholders’ equity | 254,331 | 247,573 | |
Total liabilities and stockholders’ equity | 2,521,029 | 2,351,698 | |
VIEs consolidated by the Firm | |||
Assets | |||
Trading assets (included assets pledged of $123,775 and $115,284) | 3,169 | 3,736 | |
Loans (included $1,911 and $2,861 at fair value) | 76,333 | 75,104 | |
Other assets (included $7,561 and $7,604 at fair value and assets pledged of $1,522 and $1,286) | 3,437 | 2,765 | |
Total assets | 82,939 | 81,605 | |
Liabilities | |||
Beneficial interests issued by consolidated VIEs | 42,233 | 41,879 | |
All other liabilities | 738 | 809 | |
Total liabilities | $ 42,971 | $ 42,688 | |
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2016, and December 31, 2015. 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, 2016 Dec 31, 2015Assets Trading assets$3,169 $3,736Loans76,333 75,104All other assets3,437 2,765Total assets$82,939 $81,605Liabilities Beneficial interests issued by consolidated VIEs$42,233 $41,879All other liabilities738 809Total liabilities$42,971 $42,688The 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 September 30, 2016, and December 31, 2015, the Firm provided limited program-wide credit enhancements of $2.4 billion and $2.0 billion respectively related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Consolidated Balance Sheets (U5
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Available-for-sale securities | $ 220,390 | $ 241,754 |
Loans | $ 1,911 | $ 2,861 |
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 | 2,606,750 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued (in shares) | 4,104,933,895 | 4,104,933,895 |
Shares held in Trust, shares (in shares) | 472,953 | 472,953 |
Treasury stock, shares (in shares) | 526,669,617 | 441,459,392 |
Limited program wide credit enhancement | $ 2,400 | $ 2,000 |
Loans reported as trading assets | ||
Assets | ||
Assets pledged | 123,775 | 115,284 |
Securities | ||
Assets | ||
Assets pledged | 18,501 | 14,883 |
Other assets | ||
Assets | ||
Assets pledged | 1,522 | 1,286 |
Other assets | ||
Assets | ||
Other assets at fair value | 6,576 | 6,447 |
Recurring | ||
Assets | ||
Federal funds sold and securities purchased under resale agreements | 22,986 | 23,141 |
Securities borrowed | 0 | 395 |
Available-for-sale securities | 220,390 | 241,754 |
Loans | 1,911 | 2,861 |
Liabilities | ||
Deposits | 12,991 | 12,516 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,436 | 3,526 |
Other borrowed funds | 10,021 | 9,911 |
Accounts payable and other liabilities | 7,390 | 4,401 |
Beneficial interests issued by consolidated VIEs | 48 | 787 |
Long-term debt | 38,722 | 33,065 |
Recurring | Other assets | ||
Assets | ||
Other assets at fair value | $ 7,561 | $ 7,604 |
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, 2014 | $ 20,063 | $ 4,105 | $ 93,270 | $ 129,977 | $ 2,189 | $ (21) | $ (17,856) | |
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) | |||||||
Cumulative effect of change in accounting principle at Dec. 31, 2014 | 0 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | $ 19,008 | 19,008 | ||||||
Dividends declared: | ||||||||
Preferred stock | (1,097) | |||||||
Common stock ($1.40 and $1.28 per share) | (4,838) | |||||||
Other comprehensive income/(loss) | (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) |
Beginning balance at Jun. 30, 2015 | 1,102 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 6,804 | |||||||
Dividends declared: | ||||||||
Other comprehensive income/(loss) | (351) | |||||||
Ending balance at Sep. 30, 2015 | 245,728 | 26,068 | 4,105 | 92,316 | 143,050 | 751 | (21) | (20,541) |
Beginning balance at Dec. 31, 2015 | 247,573 | 26,068 | 4,105 | 92,500 | 146,420 | 192 | (21) | (21,691) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of preferred stock | 0 | |||||||
Shares issued and commitments to issue common stock for employee stock-based compensation awards, and related tax effects | (380) | |||||||
Other | (17) | |||||||
Cumulative effect of change in accounting principle at Dec. 31, 2015 | 154 | (154) | 154 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 18,006 | 18,006 | ||||||
Dividends declared: | ||||||||
Preferred stock | (1,235) | |||||||
Common stock ($1.40 and $1.28 per share) | (5,167) | |||||||
Other comprehensive income/(loss) | 1,128 | 1,128 | ||||||
Purchase of treasury stock | (6,831) | |||||||
Reissuance from treasury stock | 1,254 | |||||||
Ending balance at Sep. 30, 2016 | 254,331 | 26,068 | 4,105 | 92,103 | 157,870 | 1,474 | (21) | (27,268) |
Beginning balance at Jun. 30, 2016 | 1,618 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 6,286 | |||||||
Dividends declared: | ||||||||
Other comprehensive income/(loss) | (144) | |||||||
Ending balance at Sep. 30, 2016 | $ 254,331 | $ 26,068 | $ 4,105 | $ 92,103 | $ 157,870 | $ 1,474 | $ (21) | $ (27,268) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | |
Dividends declared: | ||||
Dividends declared, Common stock (in dollars per share) | $ 0.48 | $ 0.44 | $ 1.40 | $ 1.28 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating activities | ||
Net income | $ 18,006 | $ 19,008 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 4,497 | 2,576 |
Depreciation and amortization | 4,032 | 3,667 |
Deferred tax expense/(benefit) | 851 | (530) |
Other | 1,424 | 1,410 |
Originations and purchases of loans held-for-sale | (32,619) | (36,188) |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 31,756 | 39,332 |
Net change in: | ||
Trading assets | (44,082) | 44,473 |
Securities borrowed | (10,475) | 4,828 |
Accrued interest and accounts receivable | (17,731) | 11,416 |
Other assets | (6,428) | (6,229) |
Trading liabilities | 23,308 | (6,625) |
Accounts payable and other liabilities | 5,655 | (13,420) |
Other operating adjustments | 3,091 | (6,419) |
Net cash provided by/(used in) operating activities | (18,715) | 57,299 |
Investing activities | ||
Net change in deposits with banks | (56,185) | 108,281 |
Net change in federal funds sold and securities purchased under resale agreements | (20,048) | (2,626) |
Held-to-maturity securities: | ||
Proceeds from paydowns and maturities | 4,442 | 4,790 |
Purchases | (134) | (5,930) |
Available-for-sale securities: | ||
Proceeds from paydowns and maturities | 49,652 | 58,281 |
Proceeds from sales | 34,971 | 29,303 |
Purchases | (66,767) | (54,034) |
Proceeds from sales and securitizations of loans held-for-investment | 8,761 | 14,634 |
Other changes in loans, net | (65,204) | (75,891) |
All other investing activities, net | (1,590) | 2,914 |
Net cash provided by/(used in) investing activities | (112,102) | 79,722 |
Financing activities | ||
Net change in deposits | 113,365 | (96,466) |
Net change in federal funds purchased and securities loaned or sold under repurchase agreements | 15,797 | (11,789) |
Net change in commercial paper and other borrowed funds | (469) | (47,615) |
Net change in beneficial interests issued by consolidated VIEs | (4,767) | (1,374) |
Proceeds from long-term borrowings | 72,021 | 70,243 |
Payments of long-term borrowings | (51,054) | (51,382) |
Proceeds from issuance of preferred stock | 0 | 5,893 |
Treasury stock purchased | (6,831) | (4,397) |
Dividends paid | (6,189) | (5,678) |
All other financing activities, net | (174) | (948) |
Net cash provided by/(used in) financing activities | 131,699 | (143,513) |
Effect of exchange rate changes on cash and due from banks | 18 | (81) |
Net increase/(decrease) in cash and due from banks | 900 | (6,573) |
Cash and due from banks at the beginning of the period | 20,490 | 27,831 |
Cash and due from banks at the end of the period | 21,390 | 21,258 |
Cash interest paid | 6,922 | 5,624 |
Cash income taxes paid, net | $ 1,810 | $ 6,871 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
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 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 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 2015 Annual Report. Certain amounts reported in prior periods have been reclassified to conform with the current presentation. Consolidation The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated balance sheets. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a VIE. Effective January 1, 2016, the Firm adopted new accounting guidance related to the consolidation of legal entities such as limited partnerships, limited liability corporations, and securitization structures. The guidance eliminated the deferral issued by the FASB in February 2010 of the accounting guidance for VIEs for certain investment funds, including mutual funds, private equity funds and hedge funds. In addition, the guidance amends the evaluation of fees paid to a decision-maker or a service provider, and exempts certain money market funds from consolidation. Furthermore, asset management funds structured as limited partnerships or certain limited liability companies are now evaluated for consolidation as voting interest entities if the non-managing partners or members have the ability to remove the Firm as the general partner or managing member without cause (i.e., kick-out rights) based on a simple majority vote. Accordingly, the Firm does not consolidate these voting interest entities. However, in the limited cases where the non-managing partners or members do not have substantive kick-out or participating rights, the Firm evaluates the funds as VIEs and consolidates if it is the general partner or managing member and has a potentially significant variable interest. There was no material impact on the Firm’s Consolidated Financial Statements upon adoption of this accounting guidance. For a further description of JPMorgan Chase’s accounting policies regarding consolidation, see Notes 1 and 16 of JPMorgan Chase’s 2015 Annual Report. 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 Consolidated balance sheets 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 2015 Annual Report. |
Business Changes and Developmen
Business Changes and Developments | 9 Months Ended |
Sep. 30, 2016 | |
Business Changes [Abstract] | |
Business Changes and Developments | Business changes and developments Increase in common stock dividend The Board of Directors increased the Firm’s quarterly common stock dividend from $0.44 per share to $0.48 per share, effective with the dividend paid on July 31, 2016, to stockholders of record at the close of business on July 6, 2016. Subsequent event On October 31, 2016, the Firm announced that it had commenced a cash tender offer (the “Offer”) for any and all of the outstanding trust preferred securities issued by Chase Capital II, First Chicago NBD Capital I, Chase Capital III, Chase Capital VI, J.P. Morgan Chase Capital XIII, JPMorgan Chase Capital XXI and JPMorgan Chase Capital XXIII. The outstanding amount of the securities issued by such trusts is $3.2 billion . The Offer is conditioned on the satisfaction of certain general conditions as described in the Offer, but is not conditioned upon any minimum amount of securities being tendered. The Offer will expire at 5:00 p.m., New York City time, on November 4, 2016, unless extended or earlier terminated. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report. The following table presents the asset and liabilities reported at fair value as of September 30, 2016 , and December 31, 2015 , 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, 2016 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 22,986 $ — $ — $ 22,986 Securities borrowed — — — — — Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 35,080 426 — 35,511 Residential – nonagency — 1,405 106 — 1,511 Commercial – nonagency — 1,188 41 — 1,229 Total mortgage-backed securities 5 37,673 573 — 38,251 U.S. Treasury and government agencies (a) 25,668 6,346 — — 32,014 Obligations of U.S. states and municipalities — 7,722 596 — 8,318 Certificates of deposit, bankers’ acceptances and commercial paper — 1,527 — — 1,527 Non-U.S. government debt securities 31,566 30,186 41 — 61,793 Corporate debt securities — 24,458 500 — 24,958 Loans (b) — 26,039 4,930 — 30,969 Asset-backed securities — 3,390 326 — 3,716 Total debt instruments 57,239 137,341 6,966 — 201,546 Equity securities 91,994 214 272 — 92,480 Physical commodities (c) 4,137 1,857 — — 5,994 Other — 8,504 681 — 9,185 Total debt and equity instruments (d) 153,370 147,916 7,919 — 309,205 Derivative receivables: Interest rate 242 841,029 2,744 (809,416 ) 34,599 Credit — 34,003 1,604 (34,797 ) 810 Foreign exchange 844 165,197 993 (150,196 ) 16,838 Equity — 37,158 742 (31,041 ) 6,859 Commodity 129 18,807 106 (12,569 ) 6,473 Total derivative receivables (e) 1,215 1,096,194 6,189 (1,038,019 ) 65,579 Total trading assets (f) 154,585 1,244,110 14,108 (1,038,019 ) 374,784 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 56,822 — — 56,822 Residential – nonagency — 15,905 1 — 15,906 Commercial – nonagency — 11,524 — — 11,524 Total mortgage-backed securities — 84,251 1 — 84,252 U.S. Treasury and government agencies (a) 21,477 31 — — 21,508 Obligations of U.S. states and municipalities — 31,403 — — 31,403 Certificates of deposit — 108 — — 108 Non-U.S. government debt securities 24,748 12,505 — — 37,253 Corporate debt securities — 5,383 — — 5,383 Asset-backed securities: Collateralized loan obligations — 29,943 778 — 30,721 Other — 7,674 2 — 7,676 Equity securities 2,086 — — — 2,086 Total available-for-sale securities 48,311 171,298 781 — 220,390 Loans — 1,067 844 — 1,911 Mortgage servicing rights — — 4,937 — 4,937 Other assets: Private equity investments (g) 79 — 1,680 — 1,759 All other 4,132 — 685 — 4,817 Total other assets (f) 4,211 — 2,365 — 6,576 Total assets measured at fair value on a recurring basis $ 207,107 $ 1,439,461 $ 23,035 $ (1,038,019 ) $ 631,584 Deposits $ — $ 10,362 $ 2,629 $ — $ 12,991 Federal funds purchased and securities loaned or sold under repurchase agreements — 1,436 — — 1,436 Other borrowed funds — 8,970 1,051 — 10,021 Trading liabilities: Debt and equity instruments (d) 74,168 20,903 55 — 95,126 Derivative payables: Interest rate 367 798,317 1,501 (786,925 ) 13,260 Credit — 33,794 1,511 (34,034 ) 1,271 Foreign exchange 809 162,030 2,581 (149,890 ) 15,530 Equity — 37,116 3,179 (31,772 ) 8,523 Commodity 173 20,922 1,000 (12,536 ) 9,559 Total derivative payables (e) 1,349 1,052,179 9,772 (1,015,157 ) 48,143 Total trading liabilities 75,517 1,073,082 9,827 (1,015,157 ) 143,269 Accounts payable and other liabilities 7,376 — 14 — 7,390 Beneficial interests issued by consolidated VIEs — — 48 — 48 Long-term debt — 24,993 13,729 — 38,722 Total liabilities measured at fair value on a recurring basis $ 82,893 $ 1,118,843 $ 27,298 $ (1,015,157 ) $ 213,877 Fair value hierarchy Derivative netting adjustments December 31, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 23,141 $ — $ — $ 23,141 Securities borrowed — 395 — — 395 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 6 31,815 715 — 32,536 Residential – nonagency — 1,299 194 — 1,493 Commercial – nonagency — 1,080 115 — 1,195 Total mortgage-backed securities 6 34,194 1,024 — 35,224 U.S. Treasury and government agencies (a) 12,036 6,985 — — 19,021 Obligations of U.S. states and municipalities — 6,986 651 — 7,637 Certificates of deposit, bankers’ acceptances and commercial paper — 1,042 — — 1,042 Non-U.S. government debt securities 27,974 25,064 74 — 53,112 Corporate debt securities — 22,807 736 — 23,543 Loans (b) — 22,211 6,604 — 28,815 Asset-backed securities — 2,392 1,832 — 4,224 Total debt instruments 40,016 121,681 10,921 — 172,618 Equity securities 94,059 606 265 — 94,930 Physical commodities (c) 3,593 1,064 — — 4,657 Other — 11,152 744 — 11,896 Total debt and equity instruments (d) 137,668 134,503 11,930 — 284,101 Derivative receivables: Interest rate 354 666,491 2,766 (643,248 ) 26,363 Credit — 48,850 2,618 (50,045 ) 1,423 Foreign exchange 734 177,525 1,616 (162,698 ) 17,177 Equity — 35,150 709 (30,330 ) 5,529 Commodity 108 24,720 237 (15,880 ) 9,185 Total derivative receivables (e) 1,196 952,736 7,946 (902,201 ) 59,677 Total trading assets (f) 138,864 1,087,239 19,876 (902,201 ) 343,778 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 55,066 — — 55,066 Residential – nonagency — 27,618 1 — 27,619 Commercial – nonagency — 22,897 — — 22,897 Total mortgage-backed securities — 105,581 1 — 105,582 U.S. Treasury and government agencies (a) 10,998 38 — — 11,036 Obligations of U.S. states and municipalities — 33,550 — — 33,550 Certificates of deposit — 283 — — 283 Non-U.S. government debt securities 23,199 13,477 — — 36,676 Corporate debt securities — 12,436 — — 12,436 Asset-backed securities: Collateralized loan obligations — 30,248 759 — 31,007 Other — 9,033 64 — 9,097 Equity securities 2,087 — — — 2,087 Total available-for-sale securities 36,284 204,646 824 — 241,754 Loans — 1,343 1,518 — 2,861 Mortgage servicing rights — — 6,608 — 6,608 Other assets: — Private equity investments (g) 102 101 1,657 — 1,860 All other 3,815 28 744 — 4,587 Total other assets (f) 3,917 129 2,401 — 6,447 Total assets measured at fair value on a recurring basis $ 179,065 $ 1,316,893 $ 31,227 $ (902,201 ) $ 624,984 Deposits $ — $ 9,566 $ 2,950 $ — $ 12,516 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,526 — — 3,526 Other borrowed funds — 9,272 639 — 9,911 Trading liabilities: Debt and equity instruments (d) 53,845 20,199 63 — 74,107 Derivative payables: Interest rate 216 633,060 1,890 (624,945 ) 10,221 Credit — 48,460 2,069 (48,988 ) 1,541 Foreign exchange 669 187,890 2,341 (171,131 ) 19,769 Equity — 36,440 2,223 (29,480 ) 9,183 Commodity 52 26,430 1,172 (15,578 ) 12,076 Total derivative payables (e) 937 932,280 9,695 (890,122 ) 52,790 Total trading liabilities 54,782 952,479 9,758 (890,122 ) 126,897 Accounts payable and other liabilities 4,382 — 19 — 4,401 Beneficial interests issued by consolidated VIEs — 238 549 — 787 Long-term debt — 21,452 11,613 — 33,065 Total liabilities measured at fair value on a recurring basis $ 59,164 $ 996,533 $ 25,528 $ (890,122 ) $ 191,103 (a) At September 30, 2016 , and December 31, 2015, included total U.S. government-sponsored enterprise obligations of $65.0 billion and $67.0 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2016 , and December 31, 2015, included within trading loans were $15.3 billion and $11.8 billion , respectively, of residential first-lien mortgages, and $4.0 billion and $4.3 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 $10.1 billion and $5.3 billion , respectively, and reverse mortgages of $2.2 billion and $2.5 billion , respectively. (c) Physical commodities inventories are generally accounted for at the lower of cost or market. “Market” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, market approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when market is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, see Note 5 . To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. (d) Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). (e) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. However, if the Firm were to net such balances within level 3, the reduction in the level 3 derivative receivables and payables balances would be $1.9 billion and $546 million at September 30, 2016 , and December 31, 2015, respectively; this is exclusive of the netting benefit associated with cash collateral, which would further reduce the level 3 balances. (f) 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, 2016, and December 31, 2015, the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $1.0 billion and $1.2 billion , respectively. Included in the balances at September 30, 2016, and December 31, 2015, were trading assets of $53 million and $61 million , respectively, and other assets of $985 million and $1.2 billion , respectively. (g) Private equity instruments represent investments within Corporate. The portion of the private equity investment portfolio carried at fair value on a recurring basis had a cost basis of $2.8 billion and $3.5 billion at September 30, 2016 , and December 31, 2015, respectively. Transfers between levels for instruments carried at fair value on a recurring basis For the three and nine months ended September 30, 2016 and 2015, there were no individually significant transfers between levels 1 and 2, or from level 2 into level 3. In addition, during the three months ended September 30, 2016, there were no individually significant transfers from level 3 to level 2. During the nine months ended September 30, 2016, transfers from level 3 to level 2 included $1.3 billion of long-term debt driven by an increase in observability and a reduction of the significance in the unobservable inputs for certain structured notes. 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; and $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. 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 2015 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 F irm’s derivatives and structured notes positions classified within level 3 at September 30, 2016, interest rate correlation inputs used in estimating fair value were concentrated towards the upper end of the range presented; equity correlation inputs were concentrated at the upper end of the range; the credit correlation inputs were distributed across the range presented; and the foreign exchange correlation inputs were concentrated at the upper end of the range presented. In addition, the interest rate volatility inputs used in estimating fair value were distributed across the range presented. The equity volatilities are concentrated in the lower half end of the range. The forward commodity prices used in estimating the fair value of commodity derivatives were concentrated in the middle of the range presented. Level 3 inputs (a) September 30, 2016 (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 $ 3,103 Discounted cash flows Yield 4% – 13% 5% Prepayment speed 0% – 20% 9% Conditional default rate 0% – 25% 5% Loss severity 0% – 90% 43% Commercial mortgage-backed securities and loans (b) 2,205 2,197 Discounted cash flows Yield 1% – 25% 6% Conditional default rate 0% – 100% 67% Loss severity 40% 40% Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 860 Discounted cash flows Credit spread 40 bps – 375 bps 140 bps Yield 2% – 18% 9% 3,117 Market comparables Price $ — – $340 $ 91 Net interest rate derivatives 1,243 Option pricing Interest rate correlation (34)% – 97% Interest rate spread volatility 3% – 38% Net credit derivatives (b)(c) 93 Discounted cash flows Credit correlation 25% – 85% Net foreign exchange derivatives (1,588 ) Option pricing Foreign exchange correlation (20)% – 70% Net equity derivatives (2,437 ) Option pricing Equity volatility 20% – 60% Net commodity derivatives (894 ) Discounted cash flows Forward commodity price $ 38 – $54 per barrel Collateralized loan obligations 778 Discounted cash flows Credit spread 370 bps – 543 bps 404 bps Prepayment speed 20% 20% Conditional default rate 2% 2% Loss severity 30% 30% 165 Market comparables Price $ — – $121 $ 69 MSRs 4,937 Discounted cash flows Refer to Note 16 Private equity investments 1,680 Market comparables EBITDA multiple 6.4 x – 11 x 7.8 x Long-term debt, other borrowed funds, and deposits (d) 16,999 Option pricing Interest rate correlation (34)% – 97% Interest rate spread volatility 3% – 38% Foreign exchange correlation (20)% – 70% Equity correlation (50)% – 75% 410 Discounted cash flows Credit correlation 25% – 85% Beneficial interests issued by consolidated VIEs (e) 48 Discounted cash flows Yield 8% – 12% 10% Prepayment speed 0% – 3% 1% Conditional default rate 3% – 16% 12% Loss severity 85% – 140% 114% (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 $293 million of credit derivative receivables and $258 million of credit derivative payables with underlying commercial mortgage risk have been included in the inputs and ranges provided for commercial MBS and loans. (c) The unobservable inputs and associated input ranges for approximately $384 million of credit derivative receivables and $356 million of credit derivative payables with underlying 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 MBS. 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 2015 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, 2016 and 2015. 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 Fair value at Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies 473 (4 ) 4 (22 ) (31 ) 6 426 — Residential – nonagency 200 (3 ) 43 (66 ) (5 ) (63 ) 106 1 Commercial – nonagency 30 — — (1 ) (1 ) 13 41 — Total mortgage-backed securities 703 (7 ) 47 (89 ) (37 ) (44 ) 573 1 Obligations of U.S. states and municipalities 551 2 68 (25 ) — — 596 2 Non-U.S. government debt securities 37 (1 ) 54 (35 ) (2 ) (12 ) 41 (1 ) Corporate debt securities 516 17 63 (43 ) (30 ) (23 ) 500 (1 ) Loans 6,016 23 498 (1,111 ) (297 ) (199 ) 4,930 18 Asset-backed securities 959 18 133 (173 ) (40 ) (571 ) 326 13 Total debt instruments 8,782 52 863 (1,476 ) (406 ) (849 ) 6,966 32 Equity securities 246 21 42 (35 ) (2 ) — 272 18 Other 670 45 276 — (305 ) (5 ) 681 30 Total trading assets – debt and equity instruments 9,698 118 (c) 1,181 (1,511 ) (713 ) (854 ) 7,919 80 (c) Net derivative receivables: (a) Interest rate 1,107 247 36 (7 ) (319 ) 179 1,243 79 Credit 279 (231 ) 8 — 48 (11 ) 93 (237 ) Foreign exchange (1,205 ) 126 — (5 ) (509 ) 5 (1,588 ) (103 ) Equity (1,892 ) (251 ) 106 (249 ) 158 (309 ) (2,437 ) (67 ) Commodity (719 ) (169 ) — (9 ) 10 (7 ) (894 ) 1 Total net derivative receivables (2,430 ) (278 ) (c) 150 (270 ) (612 ) (143 ) (3,583 ) (327 ) (c) Available-for-sale securities: Asset-backed securities 809 18 — — (5 ) (42 ) 780 18 Other 1 — — — — — 1 — Total available-for-sale securities 810 18 (d) — — (5 ) (42 ) 781 18 (d) Loans 785 7 (c) 75 — (23 ) — 844 7 (c) Mortgage servicing rights 5,072 (87 ) (e) 190 (5 ) (233 ) — 4,937 (87 ) (e) Other assets: Private equity investments 1,656 28 (c) 6 — (10 ) — 1,680 17 (c) All other 713 (4 ) (f) — — (24 ) — 685 (2 ) (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,409 $ 1 (c) $ — $ — $ 602 $ (191 ) $ (192 ) $ 2,629 $ (10 ) (c) Other borrowed funds 907 (67 ) (c) — — 584 (420 ) 47 1,051 (48 ) (c) Trading liabilities – debt and equity instruments 57 (4 ) (c) (8 ) 5 — (6 ) 11 55 — (c) Accounts payable and other liabilities 15 — — — — (1 ) — 14 — Beneficial interests issued by consolidated VIEs 584 (11 ) (c) — — — (525 ) — 48 7 (c) Long-term debt 13,147 324 (c) — — 1,877 (1,432 ) (187 ) 13,729 268 (c) Fair value measurements using significant unobservable inputs Three months ended Fair value at Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) 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 (j) 1,987 (32 ) (c) 70 (267 ) (58 ) — 1,700 (32 ) (c) All other (j) 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 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 3,528 $ 42 (c) $ — $ — $ 327 $ (280 ) $ (240 ) $ 3,377 $ 54 (c) Other borrowed funds (j) 1,261 (402 ) (c) — — 575 (403 ) (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 (j) 1,140 (35 ) (c) — — — (87 ) — 1,018 (36 ) (c) Long-term debt 12,589 (420 ) (c) (58 ) — 2,104 (1,048 ) (2,311 ) 10,856 (392 ) (c) Fair value measurements using significant unobservable inputs Nine months ended Fair value at January 1, 2016 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 715 $ (78 ) $ 133 $ (230 ) $ (89 ) $ (25 ) $ 426 $ (78 ) Residential – nonagency 194 (4 ) 220 (250 ) (16 ) (38 ) 106 (3 ) Commercial – nonagency 115 (6 ) 65 (29 ) (1 ) (103 ) 41 2 Total mortgage-backed securities 1,024 (88 ) 418 (509 ) (106 ) (166 ) 573 (79 ) Obligations of U.S. states and municipalities 651 11 104 (132 ) (38 ) — 596 11 Non-U.S. government debt securities 74 1 83 (86 ) (2 ) (29 ) 41 (2 ) Corporate debt securities 736 (15 ) 222 (187 ) (155 ) (101 ) 500 (28 ) Loans 6,604 (165 ) 1,363 (2,255 ) (939 ) 322 4,930 65 Asset-backed securities 1,832 35 565 (643 ) (957 ) (506 ) 326 (7 ) Total debt instruments 10,921 (221 ) 2,755 (3,812 ) (2,197 ) (480 ) 6,966 (40 ) Equity securities 265 18 75 (68 ) (24 ) 6 272 32 Other 744 (1 ) 629 (287 ) (340 ) (64 ) 681 73 Total trading assets – debt and equity instruments 11,930 (204 ) (c) 3,459 (4,167 ) (2,561 ) (538 ) 7,919 65 (c) Net derivative receivables: (a) Interest rate 876 787 142 (27 ) (761 ) 226 1,243 (167 ) Credit 549 (679 ) 8 (2 ) 165 52 93 (662 ) Foreign exchange (725 ) (68 ) 58 (123 ) (709 ) (21 ) (1,588 ) (291 ) Equity (1,514 ) (615 ) 248 (571 ) 231 (216 ) (2,437 ) (599 ) Commodity (935 ) 58 — 9 (30 ) 4 (894 ) (7 ) Total net derivative receivables (1,749 ) (517 ) (c) 456 (714 ) (1,104 ) 45 (3,583 ) (1,726 ) (c) Available-for-sale securities: Asset-backed securities 823 17 — — (18 ) (42 ) 780 17 Other 1 — — — — — 1 — Total available-for-sale securities 824 17 (d) — — (18 ) (42 ) 781 17 (d) Loans 1,518 (7 ) (c) 259 — (613 ) (313 ) 844 38 (c) Mortgage servicing rights 6,608 (1,296 ) (e) 410 (72 ) (713 ) — 4,937 (1,296 ) (e) Other assets: Private equity investments 1,657 98 (c) 447 (427 ) (95 ) — 1,680 25 (c) All other 744 72 (f) 30 (11 ) (150 ) — 685 69 (f) Fair value measurements using significant unobservable inputs Nine months ended Fair value at January 1, 2016 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,950 $ 76 (c) — $ — $ 1,085 $ (868 ) $ (614 ) $ 2,629 $ (24 ) (c) Other borrowed funds 639 (223 ) (c) — 1,356 (789 ) 68 1,051 (113 ) (c) Trading liabilities – debt and equity instruments 63 (11 ) (c) (8 ) 23 — (21 ) 9 55 — Accounts payable and other liabilities 19 — — — — (5 ) — 14 — Beneficial interests issued by consolidated VIEs 549 (33 ) (c) — — 143 (611 ) — 48 — (c) Long-term debt 11,613 716 (c) — — 6,752 (4,327 ) (1,025 ) 13,729 1,678 (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 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) 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 (j) 2,225 15 (c) 77 (294 ) (174 ) (149 ) 1,700 — (c) All other (j) 959 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 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,859 $ (22 ) (c) $ — $ — $ 1,775 $ (425 ) $ (810 ) $ 3,377 $ 49 (c) Other borrowed funds (j) 1,453 (525 ) (c) — — 2,897 (2,545 ) (512 ) 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 — — — — (5 ) — 21 — Beneficial interests issued by consolidated VIEs (j) 1,146 (52 ) (c) — — 286 (362 ) — 1,018 (49 ) (c) Long-term debt (j) 11,877 (617 ) (c) (58 ) — 7,487 (5,205 ) (2,628 ) 10,856 (583 ) (c) (a) All level 3 derivatives are presented on a net basis, irrespective of the underlying counterparty. (b) Level 3 liabilities as a percentage of total Fi |
Fair Value Option
Fair Value Option | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Option | Fair value option For a discussion of the primary financial instruments for which the fair value option was elected, including the basis for those elections and the determination of instrument-specific credit risk, where relevant, see Note 4 of JPMorgan Chase’s 2015 Annual Report. Changes in fair value under the fair value option election The following tables presents the changes in fair value included in the Consolidated statements of income for the three and nine months ended September 30, 2016 and 2015, 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, 2016 2015 (in millions) Principal transactions All other income Total changes in fair Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements (a) $ (54 ) $ — $ (54 ) $ 63 $ — $ 63 Securities borrowed (a) — — — (1 ) — (1 ) Trading assets: Debt and equity instruments, excluding loans 256 — 256 (144 ) — (144 ) Loans reported as trading assets (b) : Changes in instrument-specific credit risk 286 10 (e) 296 12 5 (e) 17 Other changes in fair value 2 452 (e) 454 94 277 (e) 371 Loans (b) : Changes in instrument-specific credit risk — — — 31 — 31 Other changes in fair value 1 — 1 2 — 2 Other assets 2 (3 ) (f) (1 ) 54 — 54 Deposits (c) 38 — 38 (112 ) — (112 ) Federal funds purchased and securities loaned or sold under repurchase agreements (a) 4 — 4 (14 ) — (14 ) Other borrowed funds (c) (291 ) — (291 ) 2,015 — 2,015 Trading liabilities 3 — 3 (6 ) — (6 ) Beneficial interests issued by consolidated VIEs — — — 29 — 29 Long-term debt: DVA on fair value option elected liabilities (c) — — — 299 — 299 Other changes in fair value (d) (619 ) — (619 ) 1,116 — 1,116 Nine months ended September 30, 2016 2015 (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 (a) $ 14 $ — $ 14 $ 37 $ — $ 37 Securities borrowed (a) 1 — 1 (5 ) — (5 ) Trading assets: Debt and equity instruments, excluding loans 143 — 143 375 1 376 Loans reported as trading assets (b) : Changes in instrument-specific credit risk 384 24 (e) 408 223 18 (e) 241 Other changes in fair value 188 975 (e) 1,163 206 657 (e) 863 Loans (b) : Changes in instrument-specific credit risk 13 — 13 32 — 32 Other changes in fair value 5 — 5 2 — 2 Other assets 16 79 (f) 95 116 9 (f) 125 Deposits (c) (531 ) — (531 ) (75 ) — (75 ) Federal funds purchased and securities loaned or sold under repurchase agreements (a) (16 ) — (16 ) (5 ) — (5 ) Other borrowed funds (c) (292 ) — (292 ) 2,121 — 2,121 Trading liabilities 5 — 5 (20 ) — (20 ) Beneficial interests issued by consolidated VIEs 23 — 23 73 — 73 Long-term debt: DVA on fair value option elected liabilities (c) — — — 624 — 624 Other changes in fair value (d) (1,537 ) — (1,537 ) 1,466 — 1,466 (a) Resale and repurchase agreements, securities borrowed agreements and securities lending agreements: Generally, for these types of agreements, there is a requirement that collateral be maintained with a market value equal to or in excess of the principal amount loaned; as a result, there would be no adjustment or an immaterial adjustment for instrument-specific credit risk related to these agreements. (b) Loans and lending-related commitments: For floating-rate instruments, all changes in value are attributed to instrument-specific credit risk. For fixed-rate instruments, an allocation of the changes in value for the period is made between those changes in value that are interest rate-related and changes in value that are credit-related. Allocations are generally based on an analysis of borrower-specific credit spread and recovery information, where available, or benchmarking to similar entities or industries. (c) Effective January 1, 2016, unrealized gains/(losses) due to instrument-specific credit risk (DVA) for liabilities for which the fair value option has been elected is recorded in OCI, while realized gains (losses) are recorded in principal transactions revenue. DVA for the three and nine months ended September 30, 2015 was included in principal transactions revenue, and include the impact of the Firm’s own credit quality on the inception value of liabilities as well as the impact of changes in the Firm’s own credit quality subsequent to issuance. See Notes 3 and 19 for further information. (d) Long-term debt measured at fair value predominantly relate to structured notes 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. (e) Reported in mortgage fees and related income. (f) 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, 2016 , and December 31, 2015 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. September 30, 2016 December 31, 2015 (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 $ 3,157 $ 719 $ (2,438 ) $ 3,484 $ 631 $ (2,853 ) Loans 7 7 — 7 7 — Subtotal 3,164 726 (2,438 ) 3,491 638 (2,853 ) All other performing loans Loans reported as trading assets 32,158 30,250 (1,908 ) 30,780 28,184 (2,596 ) Loans 1,875 1,867 (8 ) 2,771 2,752 (19 ) Total loans $ 37,197 $ 32,843 $ (4,354 ) $ 37,042 $ 31,574 $ (5,468 ) Long-term debt Principal-protected debt $ 21,307 (c) $ 19,471 $ (1,836 ) $ 17,910 (c) $ 16,611 $ (1,299 ) Nonprincipal-protected debt (b) NA 19,251 NA NA 16,454 NA Total long-term debt NA $ 38,722 NA NA $ 33,065 NA Long-term beneficial interests Nonprincipal-protected debt NA $ 48 NA NA $ 787 NA Total long-term beneficial interests NA $ 48 NA NA $ 787 NA (a) There were no performing loans that were ninety days or more past due as of September 30, 2016 , and December 31, 2015 , 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, 2016 , and December 31, 2015 , the contractual amount of letters of credit for which the fair value option was elected was $4.6 billion and $4.6 billion , respectively, with a corresponding fair value of $(86) million and $(94) million , respectively. For further information regarding off-balance sheet lending-related financial instruments, see Note 29 of JPMorgan Chase’s 2015 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 type. September 30, 2016 December 31, 2015 (in millions) Long-term debt Other borrowed funds Deposits Total Long-term debt Other borrowed funds Deposits Total Risk exposure Interest rate $ 16,393 $ 322 $ 3,536 $ 20,251 $ 12,531 $ 58 $ 3,340 $ 15,929 Credit 3,509 666 — 4,175 3,195 547 — 3,742 Foreign exchange 2,571 150 6 2,727 1,765 77 11 1,853 Equity 15,116 8,527 5,459 29,102 14,293 8,447 4,993 27,733 Commodity 607 55 1,572 2,234 640 50 1,981 2,671 Total structured notes $ 38,196 $ 9,720 $ 10,573 $ 58,489 $ 32,424 $ 9,179 $ 10,325 $ 51,928 |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative instruments JPMorgan Chase makes markets in derivatives for clients 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 2015 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 112 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 113 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 112 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 113 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. dollar functional currency entities Net investment hedge Corporate 114 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 112 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: ◦ Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 114 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 114 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 114 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 114 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 114 ◦ Various Other derivatives Market-making and other CIB, Corporate 114 Notional amount of derivative contracts The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2016 , and December 31, 2015 . Notional amounts (b) (in billions) September 30, 2016 December 31, 2015 Interest rate contracts Swaps $ 23,419 $ 24,162 Futures and forwards 6,073 5,167 Written options 3,091 3,506 Purchased options 3,544 3,896 Total interest rate contracts 36,127 36,731 Credit derivatives (a) 2,545 2,900 Foreign exchange contracts Cross-currency swaps 3,485 3,199 Spot, futures and forwards 6,087 5,028 Written options 756 690 Purchased options 751 706 Total foreign exchange contracts 11,079 9,623 Equity contracts Swaps 274 232 Futures and forwards 65 43 Written options 491 395 Purchased options 430 326 Total equity contracts 1,260 996 Commodity contracts Swaps 92 83 Spot, futures and forwards 149 99 Written options 103 115 Purchased options 108 112 Total commodity contracts 452 409 Total derivative notional amounts $ 51,463 $ 50,659 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on page 115 . (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, 2016 , and December 31, 2015 , 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, 2016 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 $ 836,839 $ 7,174 $ 844,013 $ 34,599 $ 796,860 $ 3,326 $ 800,186 $ 13,260 Credit 35,607 — 35,607 810 35,305 — 35,305 1,271 Foreign exchange 166,547 488 167,035 16,838 164,385 1,035 165,420 15,530 Equity 37,901 — 37,901 6,859 40,294 — 40,294 8,523 Commodity 18,909 133 19,042 6,473 21,975 120 22,095 9,559 Total fair value of trading assets and liabilities $ 1,095,803 $ 7,795 $ 1,103,598 $ 65,579 $ 1,058,819 $ 4,481 $ 1,063,300 $ 48,143 Gross derivative receivables Gross derivative payables December 31, 2015 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 $ 665,531 $ 4,080 $ 669,611 $ 26,363 $ 632,928 $ 2,238 $ 635,166 $ 10,221 Credit 51,468 — 51,468 1,423 50,529 — 50,529 1,541 Foreign exchange 179,072 803 179,875 17,177 189,397 1,503 190,900 19,769 Equity 35,859 — 35,859 5,529 38,663 — 38,663 9,183 Commodity 23,713 1,352 25,065 9,185 27,653 1 27,654 12,076 Total fair value of trading assets and liabilities $ 955,643 $ 6,235 $ 961,878 $ 59,677 $ 939,170 $ 3,742 $ 942,912 $ 52,790 (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. Derivatives netting The following tables present, as of September 30, 2016 , and December 31, 2015 , gross and net derivative receivables and payables by contract and settlement type. Derivative receivables and payables, as well as the related cash collateral from the same counterparty have been netted on the Consolidated balance sheets where 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, amounts are not eligible for netting on the Consolidated balance sheets, and those derivative receivables and payables are shown separately in the tables below. In addition to the cash collateral received and transferred that is presented on a net basis with 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: • collateral that consists of non-cash financial instruments (generally U.S. government and agency securities and other G7 government bonds) and cash collateral held at third party custodians, which are shown separately as “Collateral not nettable on the Consolidated balance sheets” in the tables below, up to the fair value exposure amount. • the amount of collateral held or transferred that exceeds the fair value exposure at the individual counterparty level, as of the date presented, which is excluded from the tables below. • collateral held or transferred that relates to derivative receivables or payables where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement, which is excluded from the tables below. September 30, 2016 December 31, 2015 (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 $ 489,501 $ (461,990 ) $ 27,511 $ 417,386 $ (396,506 ) $ 20,880 OTC–cleared 347,445 (347,371 ) 74 246,750 (246,742 ) 8 Exchange-traded (a) 184 (55 ) 129 — — — Total interest rate contracts 837,130 (809,416 ) 27,714 664,136 (643,248 ) 20,888 Credit contracts: OTC 28,304 (27,993 ) 311 44,082 (43,182 ) 900 OTC–cleared 6,822 (6,804 ) 18 6,866 (6,863 ) 3 Total credit contracts 35,126 (34,797 ) 329 50,948 (50,045 ) 903 Foreign exchange contracts: OTC 162,056 (149,376 ) 12,680 175,060 (162,377 ) 12,683 OTC–cleared 1,033 (801 ) 232 323 (321 ) 2 Exchange-traded (a) 95 (19 ) 76 — — — Total foreign exchange contracts 163,184 (150,196 ) 12,988 175,383 (162,698 ) 12,685 Equity contracts: OTC 21,758 (20,056 ) 1,702 20,690 (20,439 ) 251 OTC–cleared — — — — — — Exchange-traded (a) 14,611 (10,985 ) 3,626 12,285 (9,891 ) 2,394 Total equity contracts 36,369 (31,041 ) 5,328 32,975 (30,330 ) 2,645 Commodity contracts: OTC 10,939 (5,168 ) 5,771 15,001 (6,772 ) 8,229 OTC–cleared — — — — — — Exchange-traded (a) 7,686 (7,401 ) 285 9,199 (9,108 ) 91 Total commodity contracts 18,625 (12,569 ) 6,056 24,200 (15,880 ) 8,320 Derivative receivables with appropriate legal opinion 1,090,434 (1,038,019 ) (b) 52,415 947,642 (902,201 ) (b) 45,441 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 13,164 13,164 14,236 14,236 Total derivative receivables recognized on the Consolidated balance sheets $ 1,103,598 $ 65,579 $ 961,878 $ 59,677 Collateral not nettable on the Consolidated balance sheets (c)(d) (16,178 ) (13,543 ) Net amounts $ 49,401 $ 46,134 September 30, 2016 December 31, 2015 (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 $ 456,267 $ (444,852 ) $ 11,415 $ 393,709 $ (384,576 ) $ 9,133 OTC–cleared 342,194 (342,018 ) 176 240,398 (240,369 ) 29 Exchange-traded (a) 82 (55 ) 27 — — — Total interest rate contracts 798,543 (786,925 ) 11,618 634,107 (624,945 ) 9,162 Credit contracts: OTC 28,174 (27,400 ) 774 44,379 (43,019 ) 1,360 OTC–cleared 6,634 (6,634 ) — 5,969 (5,969 ) — Total credit contracts 34,808 (34,034 ) 774 50,348 (48,988 ) 1,360 Foreign exchange contracts: OTC 159,983 (149,151 ) 10,832 185,178 (170,830 ) 14,348 OTC–cleared 723 (723 ) — 301 (301 ) — Exchange-traded (a) 312 (16 ) 296 — — — Total foreign exchange contracts 161,018 (149,890 ) 11,128 185,479 (171,131 ) 14,348 Equity contracts: OTC 25,339 (20,858 ) 4,481 23,458 (19,589 ) 3,869 OTC–cleared — — — — — — Exchange-traded (a) 11,625 (10,914 ) 711 10,998 (9,891 ) 1,107 Total equity contracts 36,964 (31,772 ) 5,192 34,456 (29,480 ) 4,976 Commodity contracts: OTC 13,015 (5,061 ) 7,954 16,953 (6,256 ) 10,697 OTC–cleared — — — — — — Exchange-traded (a) 7,704 (7,475 ) 229 9,374 (9,322 ) 52 Total commodity contracts 20,719 (12,536 ) 8,183 26,327 (15,578 ) 10,749 Derivative payables with appropriate legal opinions 1,052,052 (1,015,157 ) (b) 36,895 930,717 (890,122 ) (b) 40,595 Derivative payables where an appropriate legal opinion has not been either sought or obtained 11,248 11,248 12,195 12,195 Total derivative payables recognized on the Consolidated balance sheets $ 1,063,300 $ 48,143 $ 942,912 $ 52,790 Collateral not nettable on the Consolidated balance sheets (c)(d)(e) (10,121 ) (7,957 ) Net amounts $ 38,022 $ 44,833 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Net derivatives receivable included cash collateral netted of $88.5 billion and $73.7 billion at September 30, 2016 , and December 31, 2015 , respectively. Net derivatives payable included cash collateral netted of $65.6 billion and $61.6 billion related to OTC and OTC-cleared derivatives at September 30, 2016 , and December 31, 2015 , respectively. (c) Excludes all collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained. (d) Represents liquid security collateral as well as cash collateral held at third party custodians related to derivative instruments where an appropriate legal opinion has been obtained. 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. (e) Derivative payables collateral relates only to OTC and OTC-cleared derivative instruments. Amounts exclude collateral transferred related to exchange-traded derivative instruments. 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 2015 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, 2016 , and December 31, 2015 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2016 December 31, 2015 Aggregate fair value of net derivative payables $ 23,174 $ 22,328 Collateral posted 20,327 18,942 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, 2016 , and December 31, 2015 , 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), nor 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, 2016 December 31, 2015 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 419 $ 2,381 $ 807 $ 3,028 Amount required to settle contracts with termination triggers upon downgrade (b) 303 809 271 1,093 (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 in which 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, 2016 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 pre-tax gains/(losses) recorded on such derivatives and the related hedged items for the three and nine months ended September 30, 2016 and 2015 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2016 Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (232 ) $ 430 $ 198 $ 7 $ 191 Foreign exchange (b) (143 ) 194 51 — 51 Commodity (c) (203 ) 229 26 1 25 Total $ (578 ) $ 853 $ 275 $ 8 $ 267 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2015 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: Nine months ended September 30, 2016 Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 2,049 $ (1,478 ) $ 571 $ 36 $ 535 Foreign exchange (b) 46 104 150 — 150 Commodity (c) (276 ) 307 31 (11 ) 42 Total $ 1,819 $ (1,067 ) $ 752 $ 25 $ 727 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2015 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 (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 primarily 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 pre-tax gains/(losses) recorded on such derivatives, for the three and nine months ended September 30, 2016 and 2015 , respectively. The Firm includes the gain/(loss) on the hedging derivative and the change in cash flows on the hedged item in the same line item in the Consolidated statements of income . Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2016 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) $ (18 ) $ — $ (18 ) $ 22 $ 40 Foreign exchange (b) (104 ) — (104 ) (86 ) 18 Total $ (122 ) $ — $ (122 ) $ (64 ) $ 58 Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2015 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) $ 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) Nine months ended September 30, 2016 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) $ (58 ) $ — $ (58 ) $ (78 ) $ (20 ) Foreign exchange (b) (167 ) — (167 ) (340 ) (173 ) Total $ (225 ) $ — $ (225 ) $ (418 ) $ (193 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2015 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) $ (113 ) $ — $ (113 ) $ (90 ) $ 23 Foreign exchange (b) (74 ) — (74 ) (14 ) 60 Total $ (187 ) $ — $ (187 ) $ (104 ) $ 83 (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 the 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. The Firm did not experience any forecasted transactions that failed to occur for the three and nine months ended September 30, 2016 . 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 was probable that the forecasted interest payment cash flows would not occur as a result of the planned reduction in wholesale non-operating deposits. Over the next 12 months, the Firm expects that approximately $196 million (after-tax) of net losses recorded in AOCI at September 30, 2016 , 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 7 years . For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately 1 year . 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 pre-tax gains/(losses) recorded on such instruments for the three and nine months ended September 30, 2016 and 2015 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2016 2015 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 $ (69 ) $ (30 ) $ (103 ) $ 908 Gains/(losses) recorded in income and other comprehensive income/(loss) 2016 2015 Nine months ended September 30, (in millions) Excluded components recorded directly (a) Effective portion recorded in OCI Excluded components (a) Effective portion recorded in OCI Foreign exchange derivatives $ (219 ) $ (603 ) $ (292 ) $ 1,651 (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, 2016 and 2015 . Gains and losses on derivatives used for specified risk management purposes The following table presents pre-tax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, foreign currency-denominated assets and liabilities, and commodities-related contracts and investments. Derivatives gains/(losses) recorded in income Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Contract type Interest rate (a) $ 312 $ 665 $ 1,956 $ 785 Credit (b) (84 ) 76 (244 ) 52 Foreign exchange (c) (2 ) 26 (2 ) 21 Commodity (d) — — — (13 ) Total $ 226 $ 767 $ 1,710 $ 845 (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 derivatives used to mitigate 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 its 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 2015 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, 2016 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (1,217,087 ) $ 1,230,857 $ 13,770 $ 8,587 Other credit derivatives (a) (29,119 ) 35,281 6,162 23,688 Total credit derivatives (1,246,206 ) 1,266,138 19,932 32,275 Credit-related notes (28 ) — (28 ) 5,123 Total $ (1,246,234 ) $ 1,266,138 $ 19,904 $ 37,398 Maximum payout/Notional amount December 31, 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 $ (1,386,071 ) $ 1,402,201 $ 16,130 $ 12,011 Other credit derivatives (a) (42,738 ) 38,158 (4,580 ) 18,792 Total credit derivatives (1,428,809 ) 1,440,359 11,550 30,803 Credit-related notes (30 ) — (30 ) 4,715 Total $ (1,428,839 ) $ 1,440,359 $ 11,520 $ 35,518 (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, 2016 , and December 31, 2015, 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, 2016 <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 $ (276,853 ) $ (515,954 ) $ (76,261 ) $ (869,068 ) $ 10,084 $ (3,936 ) $ 6,148 Noninvestment-grade (132,323 ) (211,830 ) (33,013 ) (377,166 ) 10,356 (10,891 ) (535 ) Total $ (409,176 ) $ (727,784 ) $ (109,274 ) $ (1,246,234 ) $ 20,440 $ (14,827 ) $ 5,613 December 31, 2015 <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 $ (307,211 ) $ (699,227 ) $ (46,970 ) $ (1,053,408 ) $ 13,539 $ (6,836 ) $ 6,703 Noninvestment-grade (109,195 ) (245,151 ) (21,085 ) (375,431 ) 10,823 (18,891 ) (8,068 ) Total $ (416,406 ) $ (944,378 ) $ (68,055 ) $ (1,428,839 ) $ 24,362 $ (25,727 ) $ (1,365 ) (a) The ratings scale is primarily based on external credit ratings defined by S&P and Moody’s. (b) Amounts are shown on a gross basis, before the benefit of legally enforceable master netting agreements and cash collateral received by the Firm. |
Noninterest Revenue
Noninterest Revenue | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report . The following table presents the components of investment banking fees. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Underwriting Equity $ 369 $ 257 $ 854 $ 1,108 Debt 958 855 2,404 2,621 Total underwriting 1,327 1,112 3,258 3,729 Advisory 539 492 1,585 1,502 Total investment banking fees $ 1,866 $ 1,604 $ 4,843 $ 5,231 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 September 30, (in millions) 2016 2015 2016 2015 Trading revenue by instrument type Interest rate $ 825 $ 530 $ 1,843 $ 1,836 Credit 549 438 1,652 1,477 Foreign exchange 818 607 2,101 2,014 Equity 893 637 2,584 2,593 Commodity (a) 245 156 695 745 Total trading revenue 3,330 2,368 8,875 8,665 Private equity gains (b) 121 (1 ) 231 191 Principal transactions $ 3,451 $ 2,367 $ 9,106 $ 8,856 (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 September 30, (in millions) 2016 2015 2016 2015 Asset management fees Investment management fees (a) $ 2,203 $ 2,327 $ 6,541 $ 7,017 All other asset management fees (b) 90 92 277 290 Total asset management fees 2,293 2,419 6,818 7,307 Total administration fees (c) 478 486 1,444 1,520 Commission and other fees Brokerage commissions 505 575 1,628 1,761 All other commissions and fees 321 365 1,012 1,079 Total commissions and fees 826 940 2,640 2,840 Total asset management, administration and commissions $ 3,597 $ 3,845 $ 10,902 $ 11,667 (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 September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Operating lease income $ 708 $ 536 $ 1,974 $ 1,509 |
Interest Income and Interest Ex
Interest Income and Interest Expense | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report . Details of interest income and interest expense were as follows. Three months ended Nine months ended (in millions) 2016 2015 2016 2015 Interest income Loans $ 9,237 $ 8,433 $ 27,065 $ 24,459 Taxable securities 1,365 1,553 4,187 4,885 Nontaxable securities (a) 436 439 1,321 1,260 Total securities 1,801 1,992 5,508 6,145 Trading assets 1,890 1,538 5,448 5,008 Federal funds sold and securities purchased under resale agreements 566 431 1,696 1,167 Securities borrowed (b) (91 ) (118 ) (279 ) (397 ) Deposits with banks 448 291 1,374 944 Other assets (c) 219 172 623 492 Total interest income 14,070 12,739 41,435 37,818 Interest expense Interest-bearing deposits 340 293 981 965 Federal funds purchased and securities loaned or sold under repurchase agreements 286 159 828 444 Commercial paper 34 24 105 88 Trading liabilities – debt, short-term and other liabilities (d) 285 132 826 459 Long-term debt 1,387 1,092 3,999 3,254 Beneficial interests issued by consolidated VIEs 135 115 366 323 Total interest expense 2,467 1,815 7,105 5,533 Net interest income 11,603 10,924 34,330 32,285 Provision for credit losses 1,271 682 4,497 2,576 Net interest income after provision for credit losses $ 10,332 $ 10,242 $ 29,833 $ 29,709 (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, 2016 and 2015 , 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, 2016 | |
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 OPEB plans, see Note 9 of JPMorgan Chase ’s 2015 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) 2016 2015 2016 2015 2016 2015 Components of net periodic benefit cost Benefits earned during the period $ 74 $ 85 $ 9 $ 9 $ — $ — Interest cost on benefit obligations 133 125 21 28 7 8 Expected return on plan assets (223 ) (232 ) (32 ) (38 ) (26 ) (27 ) Amortization: Net (gain)/loss 59 62 6 9 — — Prior service cost/(credit) (9 ) (9 ) — — — — Net periodic defined benefit cost 34 31 4 8 (19 ) (19 ) Other defined benefit pension plans (a) 3 3 3 2 NA NA Total defined benefit plans 37 34 7 10 (19 ) (19 ) Total defined contribution plans 123 119 80 85 NA NA Total pension and OPEB cost included in compensation expense $ 160 $ 153 $ 87 $ 95 $ (19 ) $ (19 ) Pension plans U.S. Non-U.S. OPEB plans Nine months ended September 30, (in millions) 2016 2015 2016 2015 2016 2015 Components of net periodic benefit cost Benefits earned during the period $ 221 $ 255 $ 27 $ 28 $ — $ — Interest cost on benefit obligations 399 375 71 84 22 24 Expected return on plan assets (668 ) (697 ) (102 ) (113 ) (78 ) (80 ) Amortization: Net (gain)/loss 176 185 17 27 — — Prior service cost/(credit) (26 ) (26 ) (1 ) (1 ) — — Net periodic defined benefit cost 102 92 12 25 (56 ) (56 ) Other defined benefit pension plans (a) 10 10 8 7 NA NA Total defined benefit plans 112 102 20 32 (56 ) (56 ) Total defined contribution plans 345 323 249 254 NA NA Total pension and OPEB cost included in compensation expense $ 457 $ 425 $ 269 $ 286 $ (56 ) $ (56 ) (a) Includes various defined benefit pension plans which are individually immaterial. The fair values of plan assets for the U.S. defined benefit pension and OPEB plans and for the material non-U.S. defined benefit pension plans were $16.2 billion and $3.7 billion , as of September 30, 2016 , and $16.0 billion and $3.5 billion respectively, as of December 31, 2015. See Note 19 for further information on unrecognized amounts (i.e., net (gain)/loss and prior service costs/(credit)) reflected in AOCI for the three and nine months ended September 30, 2016 and 2015 . The Firm does not anticipate any contribution to the U.S. defined benefit pension plan in 2016 at this time. For 2016 , 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 2016 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, 2016 | |
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 2015 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 Nine months ended (in millions) 2016 2015 2016 2015 Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods $ 257 $ 269 $ 808 $ 856 Accrual of estimated costs of stock-based awards to be granted in future periods including those to full-career eligible employees 230 195 752 683 Total noncash compensation expense related to employee stock-based incentive plans $ 487 $ 464 $ 1,560 $ 1,539 In the first quarter of 2016, in connection with its annual incentive grant for the 2015 performance year, the Firm granted 33 million RSUs and 926 thousand PSUs, all with a weighted-average grant date fair value of $57.24 . PSU Awards In January 2016, the Firm’s Board of Directors approved the grant of PSUs to members of the Firm’s Operating Committee under the variable compensation program for performance year 2015. PSUs are subject to the Firm’s achievement of specified performance criteria over a three -year period. The number of awards that vest can range from zero to 150% of the grant amount. The awards vest and are converted into shares of common stock in the quarter after the end of the three -year performance period. In addition, dividends will be notionally reinvested in the Firm’s common stock and will be delivered only in respect of any earned shares. Once the PSUs have vested, the shares of common stock that are delivered, after applicable tax withholding, must be held for an additional two -year period, for a total combined vesting and holding period of five years from the grant date. |
Noninterest Expense
Noninterest Expense | 9 Months Ended |
Sep. 30, 2016 | |
Noninterest Expense [Abstract] | |
Noninterest Expense | Noninterest expense For details on noninterest expense, see Consolidated statements of income on page 85 . Included within other expense are the following: Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Legal expense/(benefit) $ (71 ) $ 1,347 $ (547 ) $ 2,325 FDIC-related expense 360 298 912 916 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities Securities are classified as trading, AFS or HTM. Securities classified as trading assets are discussed in Note 3 . Predominantly all of the Firm’s AFS and HTM securities are held by Treasury and CIO within the investment securities portfolio in connection with the Firm’s asset-liability management objectives. At September 30, 2016 , the investment securities portfolio consisted of debt securities with an average credit rating of 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 2015 Annual Report. During the second quarter of 2016, the Firm transferred commercial MBS and obligations of U.S. states and municipalities with a fair value of $7.5 billion from AFS to HTM. These securities were transferred at fair value. AOCI included net pretax unrealized gains of $78 million on the securities at the date of transfer. The transfers reflect the Firm’s intent to hold the securities to maturity in order to reduce the impact of price volatility on AOCI. This transfer was a non-cash transaction. The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. September 30, 2016 December 31, 2015 (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) 54,961 1,876 15 $ 56,822 $ 53,689 $ 1,483 $ 106 $ 55,066 Residential: Prime and Alt-A 6,269 86 24 6,331 7,462 40 57 7,445 Subprime 2,582 22 — 2,604 210 7 — 217 Non-U.S. 6,801 180 10 6,971 19,629 341 13 19,957 Commercial 11,378 181 35 11,524 22,990 150 243 22,897 Total mortgage-backed securities 81,991 2,345 84 84,252 103,980 2,021 419 105,582 U.S. Treasury and government agencies (a) 21,674 52 218 21,508 11,202 — 166 11,036 Obligations of U.S. states and municipalities 28,685 2,728 10 31,403 31,328 2,245 23 33,550 Certificates of deposit 108 — — 108 282 1 — 283 Non-U.S. government debt securities 36,120 1,150 17 37,253 35,864 853 41 36,676 Corporate debt securities 5,336 76 29 5,383 12,464 142 170 12,436 Asset-backed securities: Collateralized loan obligations 30,688 76 43 30,721 31,146 52 191 31,007 Other 7,681 62 67 7,676 9,125 72 100 9,097 Total available-for-sale debt securities 212,283 6,489 468 218,304 235,391 5,386 1,110 239,667 Available-for-sale equity securities 2,065 21 — 2,086 2,067 20 — 2,087 Total available-for-sale securities $ 214,348 $ 6,510 $ 468 $ 220,390 $ 237,458 $ 5,406 $ 1,110 $ 241,754 Held-to-maturity debt securities Mortgage-backed securities: U.S. government agencies (b) 31,730 1,599 — 33,329 36,271 852 42 37,081 Commercial 5,792 124 — 5,916 — — — — Total mortgage-backed securities 37,522 1,723 — 39,245 36,271 852 42 37,081 Obligations of U.S. states and municipalities 14,489 1,005 6 15,488 12,802 708 4 13,506 Total held-to-maturity debt securities 52,011 2,728 6 54,733 49,073 1,560 46 50,587 Total securities $ 266,359 $ 9,238 $ 474 $ 275,123 $ 286,531 $ 6,966 $ 1,156 $ 292,341 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $37.5 billion and $42.3 billion at September 30, 2016 , and December 31, 2015 , respectively, which were predominantly mortgage-related. (b) Included total U.S. government-sponsored enterprise obligations with amortized cost of $27.1 billion and $30.8 billion at September 30, 2016 , and December 31, 2015 , respectively, which were predominantly mortgage-related. Securities impairment The following tables present the fair value and gross unrealized losses for investment securities by aging category at September 30, 2016 , and December 31, 2015 . Securities with gross unrealized losses Less than 12 months 12 months or more September 30, 2016 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale debt securities Mortgage-backed securities: U.S. government agencies $ 2,428 $ 6 $ 458 $ 9 $ 2,886 $ 15 Residential: Prime and Alt-A 660 6 1,036 18 1,696 24 Subprime — — — — — — Non-U.S. 354 1 886 9 1,240 10 Commercial 3,205 29 1,308 6 4,513 35 Total mortgage-backed securities 6,647 42 3,688 42 10,335 84 U.S. Treasury and government agencies 17,595 218 — — 17,595 218 Obligations of U.S. states and municipalities 685 9 49 1 734 10 Certificates of deposit — — — — — — Non-U.S. government debt securities 2,559 6 430 11 2,989 17 Corporate debt securities — — 977 29 977 29 Asset-backed securities: Collateralized loan obligations 1,226 1 7,936 42 9,162 43 Other 1,964 40 1,094 27 3,058 67 Total available-for-sale debt securities 30,676 316 14,174 152 44,850 468 Available-for-sale equity securities — — — — — — Held-to-maturity securities Mortgage-backed securities U.S. government agencies — — — — — — Commercial — — — — — — Total mortgage-backed securities — — — — — — Obligations of U.S. states and municipalities 824 6 — — 824 6 Total held-to-maturity securities 824 6 — — 824 6 Total securities with gross unrealized losses $ 31,500 $ 322 $ 14,174 $ 152 $ 45,674 $ 474 Securities with gross unrealized losses Less than 12 months 12 months or more December 31, 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 $ 13,002 $ 95 $ 697 $ 11 $ 13,699 $ 106 Residential: Prime and Alt-A 5,147 51 238 6 5,385 57 Subprime — — — — — — Non-U.S. 2,021 12 167 1 2,188 13 Commercial 13,779 239 658 4 14,437 243 Total mortgage-backed securities 33,949 397 1,760 22 35,709 419 U.S. Treasury and government agencies 10,998 166 — — 10,998 166 Obligations of U.S. states and municipalities 1,676 18 205 5 1,881 23 Certificates of deposit — — — — — — Non-U.S. government debt securities 3,267 26 367 15 3,634 41 Corporate debt securities 3,198 125 848 45 4,046 170 Asset-backed securities: Collateralized loan obligations 15,340 67 10,692 124 26,032 191 Other 4,284 60 1,005 40 5,289 100 Total available-for-sale debt securities 72,712 859 14,877 251 87,589 1,110 Available-for-sale equity securities — — — — — — Held-to-maturity debt securities Mortgage-backed securities U.S. government agencies 3,294 42 — — 3,294 42 Commercial — — — — — — Total mortgage-backed securities 3,294 42 — — 3,294 42 Obligations of U.S. states and municipalities 469 4 — — 469 4 Total Held-to-maturity securities 3,763 46 — — 3,763 46 Total securities with gross unrealized losses $ 76,475 $ 905 $ 14,877 $ 251 $ 91,352 $ 1,156 Gross unrealized losses The Firm has recognized unrealized losses on securities it intends to sell as OTTI. The Firm does not intend to sell any of the remaining securities with an unrealized loss in AOCI as of September 30, 2016 , 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 as of September 30, 2016 , are not other-than-temporarily impaired. For additional information on other-than-temporary impairment, see Note 12 of the JPMorgan Chase’s 2015 Annual Report. Securities gains and losses The following table presents realized gains and losses and OTTI losses from AFS securities that were recognized in income. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Realized gains $ 95 $ 65 $ 284 $ 250 Realized losses (22 ) (20 ) (110 ) (107 ) OTTI losses (9 ) (12 ) (38 ) (14 ) Net securities gains $ 64 $ 33 $ 136 $ 129 OTTI losses Credit-related losses recognized in income $ — $ — $ (1 ) $ (1 ) Securities the Firm intends to sell (a) (9 ) (12 ) (37 ) (13 ) Total OTTI losses recognized in income $ (9 ) $ (12 ) $ (38 ) $ (14 ) (a) Excludes realized losses on securities sold of $14 million for the nine months ended September 30, 2016 that had been previously reported as an OTTI loss due to the intention to sell the securities. Changes in the credit loss component of credit-impaired debt securities The cumulative credit loss component, including any changes therein, of OTTI losses that have been recognized in income related to AFS debt securities that the Firm does not intend to sell was not material as of and during the three and nine month periods ended September 30, 2016 and 2015 . Contractual maturities and yields The following table presents the amortized cost and estimated fair value at September 30, 2016 , of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 30, 2016 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 $ 1,577 $ 3,188 $ 8,327 $ 68,899 $ 81,991 Fair value 1,586 3,269 8,576 70,821 84,252 Average yield (b) 2.18 % 2.27 % 2.93 % 3.26 % 3.17 % U.S. Treasury and government agencies Amortized cost $ 75 $ 4,731 $ 15,531 $ 1,337 $ 21,674 Fair value 75 4,714 15,462 1,257 21,508 Average yield (b) 0.43 % 0.70 % 1.22 % 0.91 % 1.08 % Obligations of U.S. states and municipalities Amortized cost $ 123 $ 666 $ 1,045 $ 26,851 $ 28,685 Fair value 125 688 1,124 29,466 31,403 Average yield (b) 6.15 % 3.27 % 6.25 % 6.66 % 6.56 % Certificates of deposit Amortized cost $ 108 $ — $ — $ — $ 108 Fair value 108 — — — 108 Average yield (b) 1.76 % — — — 1.76 % Non-U.S. government debt securities Amortized cost $ 5,777 $ 14,341 $ 13,917 $ 2,085 $ 36,120 Fair value 5,792 14,734 14,548 2,179 37,253 Average yield (b) 2.94 % 1.47 % 0.92 % 0.48 % 1.44 % Corporate debt securities Amortized cost $ 1,551 $ 2,025 $ 1,630 $ 130 $ 5,336 Fair value 1,565 2,058 1,630 130 5,383 Average yield (b) 3.53 % 2.67 % 2.99 % 3.22 % 3.03 % Asset-backed securities Amortized cost $ 7 $ 565 $ 22,889 $ 14,908 $ 38,369 Fair value 7 568 22,895 14,927 38,397 Average yield (b) 2.47 % 0.79 % 2.17 % 2.08 % 2.12 % Total available-for-sale debt securities Amortized cost $ 9,218 $ 25,516 $ 63,339 $ 114,210 $ 212,283 Fair value 9,258 26,031 64,235 118,780 218,304 Average yield (b) 2.92 % 1.55 % 1.85 % 3.83 % 2.93 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,065 $ 2,065 Fair value — — — 2,086 2,086 Average yield (b) — % — % — % 0.29 % 0.29 % Total available-for-sale securities Amortized cost $ 9,218 $ 25,516 $ 63,339 $ 116,275 $ 214,348 Fair value 9,258 26,031 64,235 120,866 220,390 Average yield (b) 2.92 % 1.55 % 1.85 % 3.77 % 2.90 % Held-to-maturity debt securities Mortgage-backed securities (a) Amortized cost $ — $ — $ — $ 37,522 $ 37,522 Fair value — — — 39,245 39,245 Average yield (b) — % — % — % 3.31 % 3.31 % Obligations of U.S. states and municipalities Amortized cost $ — $ 29 $ 1,385 $ 13,075 $ 14,489 Fair value — 30 1,470 13,988 15,488 Average yield (b) — % 6.11 % 5.08 % 5.68 % 5.62 % Total held-to-maturity securities Amortized cost $ — $ 29 $ 1,385 $ 50,597 $ 52,011 Fair value — 30 1,470 53,233 54,733 Average yield (b) — % 6.11 % 5.08 % 3.92 % 3.95 % (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at September 30, 2016 . (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 U.S. residential MBS and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated weighted-average life, which reflects anticipated future prepayments, is approximately 5 years for agency residential MBS, 2 years for agency residential collateralized mortgage obligations and 3 years for nonagency residential collateralized mortgage obligations. |
Securities Financing Activities
Securities Financing Activities | 9 Months Ended |
Sep. 30, 2016 | |
Securities Financing Transactions Disclosures [Abstract] | |
Securities Financing Activities | Securities financing activities For a discussion of accounting policies relating to securities financing activities, see Note 13 of JPMorgan Chase’s 2015 Annual Report. For further information regarding securities borrowed and securities lending agreements for which the fair value option has been elected, see Note 4. For further information regarding assets pledged and collateral received in securities financing agreements, see Note 22. The table below summarizes the gross and net amounts of the Firm’s securities financing agreements as of September 30, 2016 and December 31, 2015. When the Firm has obtained an appropriate legal opinion with respect to the master netting agreement with a counterparty and where other relevant netting criteria under U.S. GAAP are met, the Firm nets, on the Consolidated balance sheets, the balances outstanding under its securities financing agreements with the same counterparty. In addition, the Firm exchanges securities and/or cash collateral with its counterparties; this collateral also reduces, in the Firm’s view, the economic exposure with the counterparty. Such collateral, along with securities financing balances that do not meet relevant netting criteria under U.S. GAAP, is presented as “Amounts not nettable on the Consolidated balance sheets,” and reduces the “Net amounts” presented below, if the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. September 30, 2016 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 448,134 $ (215,572 ) $ 232,562 $ (226,850 ) $ 5,712 Securities borrowed 109,197 — 109,197 (78,667 ) 30,530 Liabilities Securities sold under repurchase agreements $ 367,383 $ (215,572 ) $ 151,811 $ (132,431 ) $ 19,380 Securities loaned and other (a) 23,002 — 23,002 (22,926 ) 76 December 31, 2015 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 368,148 $ (156,258 ) $ 211,890 $ (207,958 ) (e) $ 3,932 (e) Securities borrowed 98,721 — 98,721 (65,081 ) 33,640 Liabilities Securities sold under repurchase agreements $ 290,044 $ (156,258 ) $ 133,786 $ (119,332 ) (e) $ 14,454 (e) Securities loaned and other (a) 22,556 — 22,556 (22,245 ) 311 (a) Includes securities-for-securities lending transactions of $7.4 billion and $4.4 billion at September 30, 2016 and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. (b) Includes securities financing agreements accounted for at fair value. At September 30, 2016 and December 31, 2015, included securities purchased under resale agreements of $23.0 billion and $23.1 billion , respectively, securities borrowed of zero and $395 million , respectively, and securities sold under agreements to repurchase of $1.4 billion and $3.5 billion , respectively. There were no securities loaned accounted for at fair value in either period. (c) In some cases, collateral exchanged with a counterparty exceeds the net asset or liability balance with that counterparty. In such cases, the amounts reported in this column are limited to the related asset or liability with that counterparty. (d) Includes securities financing agreements that provide collateral rights, but where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained. At September 30, 2016 and December 31, 2015, included $3.9 billion and $2.3 billion , respectively, of securities purchased under resale agreements; $27.9 billion and $31.3 billion , respectively, of securities borrowed; $17.5 billion and $12.6 billion , respectively, of securities sold under agreements to repurchase; and $22 million and $45 million , respectively, of securities loaned and other. (e) The prior period amounts have been revised to conform with the current presentation. The tables below present as of September 30, 2016 , and December 31, 2015 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements. Gross liability balance September 30, 2016 December 31, 2015 (in millions) Securities sold under repurchase agreements Securities loaned and other (a) Securities sold under repurchase agreements Securities loaned and other (a) Mortgage-backed securities $ 17,038 $ — $ 12,790 $ — U.S. Treasury and government agencies 202,515 17 154,377 5 Obligations of U.S. states and municipalities 2,076 — 1,316 — Non-U.S. government debt 106,088 5,813 80,162 4,426 Corporate debt securities 19,754 86 21,286 78 Asset-backed securities 5,139 — 4,394 — Equity securities 14,773 17,086 15,719 18,047 Total $ 367,383 $ 23,002 $ 290,044 $ 22,556 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2016 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 141,524 $ 132,267 $ 41,871 $ 51,721 $ 367,383 Total securities loaned and other (a) 11,460 647 1,588 9,307 23,002 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days December 31, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 114,595 $ 100,082 $ 29,955 $ 45,412 $ 290,044 Total securities loaned and other (a) 8,320 708 793 12,735 22,556 (a) Includes securities-for-securities lending transactions of $7.4 billion and $4.4 billion at September 30, 2016 and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. Transfers not qualifying for sale accounting At September 30, 2016, and December 31, 2015, the Firm held $5.8 billion and $7.5 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, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
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 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 2015 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 (f) Residential real estate – excluding PCI • Home equity (b) • Residential mortgage (c) Other consumer loans • Auto (d) • Business banking (d)(e) • 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 (g) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. (b) Includes senior and junior lien home equity loans. (c) Includes prime (including option ARMs) and subprime loans. (d) 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. (e) Predominantly includes Business Banking loans as well as deposit overdrafts. (f) 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. (g) Includes loans to: individuals; SPEs; holding companies; and private education and civic organizations. For more information on exposures to SPEs, see Note 16 of JPMorgan Chase ’s 2015 Annual Report . The following tables summarize the Firm’s loan balances by portfolio segment. September 30, 2016 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 363,398 $ 133,346 $ 386,449 $ 883,193 (b) Held-for-sale 398 89 2,463 2,950 At fair value — — 1,911 1,911 Total $ 363,796 $ 133,435 $ 390,823 $ 888,054 December 31, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 344,355 $ 131,387 $ 357,050 $ 832,792 (b) Held-for-sale 466 76 1,104 1,646 At fair value — — 2,861 2,861 Total $ 344,821 $ 131,463 $ 361,015 $ 837,299 (a) Includes accrued interest and fees net of an allowance for the uncollectible portion of accrued interest and fee income. (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. These amounts were not material as of September 30, 2016 , and December 31, 2015 . 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. 2016 2015 Three months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 959 (a)(b) $ — $ 282 $ 1,241 $ 1,196 (a)(b) $ — $ 1,199 $ 2,395 Sales 577 — 2,637 3,214 1,130 — 1,856 2,986 Retained loans reclassified to held-for-sale 176 — 777 953 — 79 20 99 2016 2015 Nine months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 3,048 (a)(b) $ — $ 975 $ 4,023 $ 3,918 (a)(b) $ — $ 1,894 $ 5,812 Sales 2,242 — 6,383 8,625 4,073 — (c) 7,381 11,454 Retained loans reclassified to held-for-sale 259 — 1,393 1,652 1,272 79 455 1,806 (a) Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Government National Mortgage Association (“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, FHA, RHS, and/or VA. (b) Excludes purchases of retained loans sourced through the correspondent origination channel and underwritten in accordance with the Firm’s standards. Such purchases were $6.7 billion and $14.4 billion for the three months ended September 30, 2016 and 2015 , respectively, and $23.8 billion and $39.8 billion for the nine months ended September 30, 2016 and 2015 , respectively. (c) Prior period amounts have been revised to conform with current period presentation. 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 September 30, (in millions) 2016 2015 2016 2015 Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) (a) Consumer, excluding credit card $ 51 $ 62 $ 168 $ 239 Credit card (2 ) 13 (6 ) 22 Wholesale 17 33 15 32 Total net gains on sales of loans (including lower of cost or fair value adjustments) $ 66 $ 108 $ 177 $ 293 (a) Excludes sales related to loans accounted for at fair value. 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 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 $ 40,740 $ 45,559 Residential mortgage 189,558 166,239 Other consumer loans Auto 64,512 60,255 Business banking 22,292 21,208 Student and other 9,251 10,096 Residential real estate – PCI Home equity 13,448 14,989 Prime mortgage 7,919 8,893 Subprime mortgage 3,021 3,263 Option ARMs 12,657 13,853 Total retained loans $ 363,398 $ 344,355 For further information on consumer credit quality indicators, see Note 14 of JPMorgan Chase ’s 2015 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 (in millions, except ratios) Home equity (g) Residential mortgage (g) Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 39,644 $ 44,299 $ 181,247 $ 156,463 $ 220,891 $ 200,762 30–149 days past due 610 708 3,737 4,042 4,347 4,750 150 or more days past due 486 552 4,574 5,734 5,060 6,286 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 % of 30+ days past due to total retained loans (b) 2.69 % 2.77 % 0.81 % 1.03 % 1.14 % 1.40 % 90 or more days past due and government guaranteed (c) $ — $ — $ 4,796 $ 6,056 $ 4,796 $ 6,056 Nonaccrual loans 1,904 2,191 2,295 2,503 4,199 4,694 Current estimated LTV ratios (d)(e) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 65 $ 165 $ 52 $ 58 $ 117 $ 223 Less than 660 18 32 64 77 82 109 101% to 125% and refreshed FICO scores: Equal to or greater than 660 810 1,344 162 274 972 1,618 Less than 660 266 434 237 291 503 725 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,346 4,537 4,009 3,159 7,355 7,696 Less than 660 1,069 1,409 880 996 1,949 2,405 Less than 80% and refreshed FICO scores: Equal to or greater than 660 28,185 29,648 165,480 142,241 193,665 171,889 Less than 660 4,534 4,934 7,027 6,797 11,561 11,731 No FICO/LTV available 2,447 3,056 2,095 1,658 4,542 4,714 U.S. government-guaranteed — — 9,552 10,688 9,552 10,688 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 Geographic region California $ 7,992 $ 8,945 $ 57,410 $ 47,263 $ 65,402 $ 56,208 New York 8,345 9,147 24,282 21,462 32,627 30,609 Illinois 3,067 3,420 13,117 11,524 16,184 14,944 Texas 2,278 2,532 10,519 9,128 12,797 11,660 Florida 2,196 2,409 8,295 7,177 10,491 9,586 New Jersey 2,324 2,590 6,365 5,567 8,689 8,157 Washington 1,287 1,451 5,159 4,176 6,446 5,627 Arizona 1,858 2,143 3,604 3,155 5,462 5,298 Michigan 1,194 1,350 2,069 1,945 3,263 3,295 Ohio 1,464 1,652 1,362 1,247 2,826 2,899 All other (f) 8,735 9,920 57,376 53,595 66,111 63,515 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.8 billion and $2.6 billion ; 30 – 149 days past due included $2.9 billion and $3.2 billion ; and 150 or more days past due included $3.9 billion and $4.9 billion at September 30, 2016 , and December 31, 2015 , respectively. (b) At September 30, 2016 , and December 31, 2015 , Residential mortgage loans excluded mortgage loans insured by U.S. government agencies of $6.8 billion and $8.1 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, 2016 , and December 31, 2015 , these balances included $2.7 billion and $3.4 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 that were not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing interest at September 30, 2016 , and December 31, 2015 . (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. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (e) Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. (f) At September 30, 2016 , and December 31, 2015 , included mortgage loans insured by U.S. government agencies of $9.6 billion and $10.7 billion , respectively. (g) Includes residential real estate loans to private banking clients in AM, for which the primary credit quality indicators are the borrower’s financial position and LTV. The following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines as of September 30, 2016 , and December 31, 2015 . 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) $ 11,646 $ 17,050 1.18 % 1.57 % Beyond the revolving period 13,135 11,252 2.90 3.10 HELOANs 1,999 2,409 2.70 3.03 Total $ 26,780 $ 30,711 2.14 % 2.25 % (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 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. HELOCs beyond the revolving period and HELOANs have higher delinquency rates than 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 Firm’s allowance for loan losses. Impaired loans The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 of JPMorgan Chase ’s 2015 Annual Report . Home equity Residential mortgage Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 1,287 $ 1,293 $ 4,865 $ 5,243 $ 6,152 $ 6,536 Without an allowance (a) 966 1,065 1,349 1,447 2,315 2,512 Total impaired loans (b)(c) $ 2,253 $ 2,358 $ 6,214 $ 6,690 $ 8,467 $ 9,048 Allowance for loan losses related to impaired loans $ 132 $ 138 $ 79 $ 108 $ 211 $ 246 Unpaid principal balance of impaired loans (d) 3,792 3,960 8,518 9,082 12,310 13,042 Impaired loans on nonaccrual status (e) 1,088 1,220 1,799 1,957 2,887 3,177 (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, 2016 , Chapter 7 residential real estate loans included approximately 13% of home equity and 17% of residential mortgages that were 30 days or more past due. (b) At September 30, 2016 , and December 31, 2015 , $3.6 billion and $3.8 billion , respectively, of loans modified subsequent to repurchase from 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, 2016 , and December 31, 2015 . 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, 2016 , and December 31, 2015 , nonaccrual loans included $2.3 billion and $2.5 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 2015 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 (a) (in millions) 2016 2015 2016 2015 2016 2015 Home equity $ 2,276 $ 2,351 $ 31 $ 32 $ 20 $ 20 Residential mortgage 6,305 6,980 76 82 19 22 Total residential real estate – excluding PCI $ 8,581 $ 9,331 $ 107 $ 114 $ 39 $ 42 Nine months ended September 30, Average impaired loans Interest income on (a) Interest income on impaired (a) (in millions) 2016 2015 2016 2015 2016 2015 Home equity $ 2,325 $ 2,371 $ 94 $ 98 $ 61 $ 64 Residential mortgage 6,457 7,996 231 268 58 68 Total residential real estate – excluding PCI $ 8,782 $ 10,367 $ 325 $ 366 $ 119 $ 132 (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 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) 2016 2015 2016 2015 Home equity $ 62 $ 139 $ 258 $ 286 Residential mortgage 72 62 194 217 Total residential real estate – excluding PCI $ 134 $ 201 $ 452 $ 503 Nature and extent of modifications The U.S. Treasury’s Making Home Affordable 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 above 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, Total residential real estate – excluding PCI Home equity Residential mortgage 2016 2015 2016 2015 2016 2015 Number of loans approved for a trial modification 351 1,835 386 664 737 2,499 Number of loans permanently modified 1,163 953 849 805 2,012 1,758 Concession granted: (a) Interest rate reduction 83 % 71 % 81 % 73 % 82 % 72 % Term or payment extension 76 88 86 80 81 84 Principal and/or interest deferred 21 24 15 22 18 24 Principal forgiveness 6 4 25 29 14 15 Other (b) 6 — 27 13 15 6 Nine months ended September 30, Total residential real estate – excluding PCI Home equity Residential mortgage 2016 2015 2016 2015 2016 2015 Number of loans approved for a trial modification 2,088 2,732 1,521 1,992 3,609 4,724 Number of loans permanently modified 3,804 2,679 2,560 2,397 6,364 5,076 Concession granted: (a) Interest rate reduction 74 % 74 % 75 % 71 % 75 % 73 % Term or payment extension 84 86 89 81 86 84 Principal and/or interest deferred 12 26 18 26 18 26 Principal forgiveness 9 5 27 29 16 16 Other (b) 1 — 14 11 11 5 (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 above 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, (in millions, except weighted-average data and number of loans) Home equity Residential mortgage Total residential real estate – excluding PCI 2016 2015 2016 2015 2016 2015 Weighted-average interest rate of loans with interest rate reductions – before TDR 4.99 % 5.20 % 5.76 % 5.76 % 5.47 % 5.57 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.28 2.33 2.99 2.81 2.73 2.65 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 19 17 24 25 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 33 38 37 38 36 Charge-offs recognized upon permanent modification $ — $ 1 $ 1 $ 4 $ 1 $ 5 Principal deferred 6 7 7 13 13 20 Principal forgiven 1 — 12 19 13 19 Balance of loans that redefaulted within one year of permanent modification (a) $ 13 $ 5 $ 29 $ 38 $ 42 $ 43 Nine months ended September 30, Home equity Residential mortgage Total residential real estate – excluding PCI 2016 2015 2016 2015 2016 2015 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.08 % 5.24 % 5.66 % 5.74 % 5.43 % 5.57 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.40 2.41 2.94 2.76 2.73 2.65 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 18 18 25 25 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 33 38 37 38 36 Charge-offs recognized upon permanent modification $ 1 $ 3 $ 3 $ 9 $ 4 $ 12 Principal deferred 18 20 26 45 44 65 Principal forgiven 5 2 37 52 42 54 Balance of loans that redefaulted within one year of permanent modification (a) $ 31 $ 14 $ 72 $ 102 $ 103 $ 116 (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, 2016 , the weighted-average estimated remaining lives of residential real estate loans, excluding PCI loans, permanently modified in TDRs were 9 years for home equity and 11 years for residential 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, 2016 , and December 31, 2015 , the Firm had non-PCI residential real estate loans, excluding those insured by U.S. government agencies, with a carrying value of $1.0 billion and $1.2 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 $ 63,815 $ 59,442 $ 21,954 $ 20,887 $ 8,644 $ 9,405 $ 94,413 $ 89,734 30–119 days past due 688 804 212 215 380 445 1,280 1,464 120 or more days past due 9 9 126 106 227 246 362 361 Total retained loans $ 64,512 $ 60,255 $ 22,292 $ 21,208 $ 9,251 $ 10,096 $ 96,055 $ 91,559 % of 30+ days past due to total retained loans 1.08 % 1.35 % 1.52 % 1.51 % 1.58 % (d) 1.63 % (d) 1.23 % (d) 1.42 % (d) 90 or more days past due and (b) $ — $ — $ — $ — $ 259 $ 290 $ 259 $ 290 Nonaccrual loans 212 116 286 263 211 242 709 621 Geographic region California $ 7,837 $ 7,186 $ 4,031 $ 3,530 $ 951 $ 1,051 $ 12,819 $ 11,767 New York 3,970 3,874 3,392 3,359 1,202 1,224 8,564 8,457 Illinois 3,921 3,678 1,582 1,459 608 679 6,111 5,816 Texas 6,866 6,457 2,715 2,622 761 839 10,342 9,918 Florida 3,343 2,843 1,046 941 484 516 4,873 4,300 New Jersey 2,026 1,998 540 500 326 366 2,892 2,864 Washington 1,207 1,135 279 264 198 212 1,684 1,611 Arizona 2,215 2,033 1,251 1,205 212 236 3,678 3,474 Michigan 1,514 1,550 1,309 1,361 369 415 3,192 3,326 Ohio 2,269 2,340 1,359 1,363 509 559 4,137 4,262 All other 29,344 27,161 4,788 4,604 3,631 3,999 37,763 35,764 Total retained loans $ 64,512 $ 60,255 $ 22,292 $ 21,208 $ 9,251 $ 10,096 $ 96,055 $ 91,559 Loans by risk ratings (c) Noncriticized $ 12,276 $ 11,277 $ 16,563 $ 15,505 NA NA $ 28,839 $ 26,782 Criticized performing 188 76 761 815 NA NA 949 891 Criticized nonaccrual 98 — 236 210 NA NA 334 210 (a) Student loan delinquency classifications included loans insured by U.S. government agencies under the FFELP as follows: current included $3.5 billion and $3.8 billion ; 30 - 119 days past due included $250 million and $299 million ; and 120 or more days past due included $211 million and $227 million at September 30, 2016 , and December 31, 2015 , 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, 2016 , and December 31, 2015 , excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $461 million and $526 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 $ 648 $ 527 Without an allowance (a) 30 31 Total impaired loans (b)(c) $ 678 $ 558 Allowance for loan losses related to impaired loans $ 141 $ 118 Unpaid principal balance of impaired loans (d) 790 668 Impaired loans on nonaccrual status 551 449 (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 $683 million and $543 million for the three months ended September 30, 2016 and 2015 , respectively, and $626 million and $565 million for the nine months ended September 30, 2016 and 2015 , 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, 2016 and 2015 . (d) Represents the contractual amount of principal owed at September 30, 2016 , and December 31, 2015 . 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 2015 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, 2016 and 2015. (in millions) September 30, December 31, Loans modified in TDRs (a)(b) $ 386 $ 384 TDRs on nonaccrual status 259 275 (a) The impact of these modifications was not material to the Firm for the three and nine months ended September 30, 2016 and 2015 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of September 30, 2016 , and December 31, 2015 , 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 2015 Annual Report . Residential real estate – PCI loans The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. 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) $ 13,448 $ 14,989 $ 7,919 $ 8,893 $ 3,021 $ 3,263 $ 12,657 $ 13,853 $ 37,045 $ 40,998 Related allowance for loan losses (b) 1,708 1,708 861 985 — — 49 49 2,618 2,742 Loan delinquency (based on unpaid principal balance) Current $ 12,970 $ 14,387 $ 7,100 $ 7,894 $ 3,065 $ 3,232 $ 11,445 $ 12,370 $ 34,580 $ 37,883 30–149 days past due 279 322 350 424 389 439 571 711 1,589 1,896 150 or more days past due 510 633 494 601 260 380 993 1,272 2,257 2,886 Total loans $ 13,759 $ 15,342 $ 7,944 $ 8,919 $ 3,714 $ 4,051 $ 13,009 $ 14,353 $ 38,426 $ 42,665 % of 30+ days past due to total loans 5.73 % 6.22 % 10.62 % 11.49 % 17.47 % 20.22 % 12.02 % 13.82 % 10.01 % 11.21 % Current estimated LTV ratios (based on unpaid principal balance) (c)(d) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 89 $ 153 $ 6 $ 10 $ 6 $ 10 $ 11 $ 19 $ 112 $ 192 Less than 660 50 80 19 28 33 55 23 36 125 199 101% to 125% and refreshed FICO scores: Equal to or greater than 660 649 942 64 120 46 77 98 166 857 1,305 Less than 660 305 444 94 152 152 220 164 239 715 1,055 80% to 100% and refreshed FICO scores: Equal to or greater than 660 2,119 2,709 520 816 248 331 653 977 3,540 4,833 Less than 660 914 1,136 436 614 496 643 744 1,050 2,590 3,443 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 6,678 6,724 4,082 4,243 915 863 6,847 7,073 18,522 18,903 Less than 660 2,198 2,265 2,312 2,438 1,635 1,642 3,858 4,065 10,003 10,410 No FICO/LTV available 757 889 411 498 183 210 611 728 1,962 2,325 Total unpaid principal balance $ 13,759 $ 15,342 $ 7,944 $ 8,919 $ 3,714 $ 4,051 $ 13,009 $ 14,353 $ 38,426 $ 42,665 Geographic region (based on unpaid principal balance) California $ 8,246 $ 9,205 $ 4,589 $ 5,172 $ 927 $ 1,005 $ 7,378 $ 8,108 $ 21,140 $ 23,490 New York 724 788 528 580 373 400 740 813 2,365 2,581 Illinois 327 358 235 263 181 196 289 333 1,032 1,150 Texas 193 224 83 94 219 243 66 75 561 636 Florida 1,348 1,479 519 586 341 373 1,063 1,183 3,271 3,621 New Jersey 289 310 217 238 127 139 419 470 1,052 1,157 Washington 708 819 173 194 71 81 303 339 1,255 1,433 Arizona 253 281 131 143 70 76 188 203 642 703 Michigan 39 44 126 141 103 113 133 150 401 448 Ohio 15 17 41 45 58 62 53 61 167 185 All other 1,617 1,817 1,302 1,463 1,244 1,363 2,377 2,618 6,540 7,261 Total u |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report . Allowance for credit losses and related information The table below summarizes information about the allowances for loan losses and lending-related commitments, and includes a breakdown of loans and lending-related commitments by impairment methodology. 2016 2015 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, $ 5,806 $ 3,434 $ 4,315 $ 13,555 7,050 $ 3,439 $ 3,696 $ 14,185 Gross charge-offs 1,071 2,803 291 4,165 1,269 2,626 46 3,941 Gross recoveries (448 ) (275 ) (30 ) (753 ) (577 ) (278 ) (64 ) (919 ) Net charge-offs/(recoveries) 623 2,528 261 3,412 692 2,348 (18 ) 3,022 Write-offs of PCI loans (a) 124 — — 124 162 — — 162 Provision for loan losses 578 2,978 628 4,184 (346 ) 2,348 461 2,463 Other — — 1 1 (1 ) (5 ) 8 2 Ending balance at September 30, $ 5,637 $ 3,884 $ 4,683 $ 14,204 $ 5,849 $ 3,434 $ 4,183 $ 13,466 Allowance for loan losses by impairment methodology Asset-specific (b) $ 352 $ 363 (c) $ 490 $ 1,205 $ 359 $ 485 (c) $ 281 $ 1,125 Formula-based 2,667 3,521 4,193 10,381 2,702 2,949 3,902 9,553 PCI 2,618 — — 2,618 2,788 — — 2,788 Total allowance for loan losses $ 5,637 $ 3,884 $ 4,683 $ 14,204 $ 5,849 $ 3,434 $ 4,183 $ 13,466 Loans by impairment methodology Asset-specific $ 9,145 $ 1,264 $ 2,233 $ 12,642 $ 9,817 $ 1,563 $ 1,121 $ 12,501 Formula-based 317,208 132,082 384,213 833,503 279,679 124,071 345,802 749,552 PCI 37,045 — 3 37,048 42,236 — 4 42,240 Total retained loans $ 363,398 $ 133,346 $ 386,449 $ 883,193 $ 331,732 $ 125,634 $ 346,927 $ 804,293 Impaired collateral-dependent loans Net charge-offs $ 63 $ — $ 7 $ 70 $ 84 $ — $ 2 $ 86 Loans measured at fair value of collateral less cost to sell 2,371 — 346 2,717 2,653 — 325 2,978 Allowance for lending-related commitments Beginning balance at January 1, $ 14 $ — $ 772 $ 786 $ 13 $ — $ 609 $ 622 Provision for lending-related commitments — — 313 313 1 — 112 113 Other — — 1 1 — — — — Ending balance at September 30, $ 14 $ — $ 1,086 $ 1,100 $ 14 $ — $ 721 $ 735 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 162 $ 162 $ — $ — $ 69 $ 69 Formula-based 14 — 924 938 14 — 652 666 Total allowance for lending-related commitments $ 14 $ — $ 1,086 $ 1,100 $ 14 $ — $ 721 $ 735 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 503 $ 503 $ — $ — $ 176 $ 176 Formula-based 59,990 549,634 368,484 978,108 60,005 526,433 354,172 940,610 Total lending-related commitments $ 59,990 $ 549,634 $ 368,987 $ 978,611 $ 60,005 $ 526,433 $ 354,348 $ 940,786 (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, 2016 | |
Variable Interest Entities [Abstract] | |
Variable Interest Entities | Variable interest entities For a further description of JPMorgan Chase’s accounting policies regarding consolidation of VIEs, see Note 1 of JPMorgan Chase’s 2015 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 142 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 142 – 144 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 142 – 144 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 144 Municipal bond vehicles 144–145 The Firm also invests in and provides financing and other services to VIEs sponsored by third parties, as described on page 145 of this Note. Significant Firm-sponsored VIEs Credit card securitizations For a more detailed discussion of JPMorgan Chase’s involvement with credit card securitizations, see Note 16 of JPMorgan Chase’s 2015 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, including its primary vehicle, the Chase Issuance Trust. See the table on page 146 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 interests 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 2015 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 147 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 147 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, 2016 (in millions) 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 (a) Residential mortgage: Prime/Alt-A and option ARMs $ 80,226 $ 4,749 $ 59,790 $ 204 $ 1,444 $ 1,648 Subprime 22,300 5 20,594 78 — 78 Commercial and other (b) 107,288 107 73,454 612 1,945 2,557 Total $ 209,814 $ 4,861 $ 153,838 $ 894 $ 3,389 $ 4,283 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2015 (in millions) 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 (a) Residential mortgage: Prime/Alt-A and option ARMs $ 85,687 $ 1,400 $ 66,708 $ 394 $ 1,619 $ 2,013 Subprime 24,389 64 22,549 109 — 109 Commercial and other (b) 123,474 107 80,319 447 3,451 3,898 Total $ 233,550 $ 1,571 $ 169,576 $ 950 $ 5,070 $ 6,020 (a) Excludes U.S. government agency securitizations and re-securitizations, which are not Firm-sponsored. See page 147 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) 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 $34 million and $48 million , respectively, at September 30, 2016 , and $163 million and $73 million , respectively, at December 31, 2015 , 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, 2016 , and December 31, 2015 , 65% and 76% , 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 $1.6 billion and $1.9 billion of investment-grade and $68 million and $93 million of noninvestment-grade retained interests at September 30, 2016 , and December 31, 2015 , respectively. The retained interests in commercial and other securitizations trusts consisted of $2.3 billion and $3.7 billion of investment-grade and $253 million and $198 million of noninvestment-grade retained interests at September 30, 2016 , and December 31, 2015 , respectively. Residential mortgage The Firm securitizes residential mortgage loans originated by CCB , as well as residential mortgage loan purchased from third parties by either CCB or CIB . For a more detailed description of the Firm’s involvement with residential mortgage securitizations, see Note 16 of JPMorgan Chase’s 2015 Annual Report . See the table on page 146 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 2015 Annual Report . See the table on page 146 of this Note for more information on the consolidated commercial mortgage securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated securitizations. Re-securitizations For a more detailed description of JPMorgan Chase’s participation in certain re-securitization transactions, see Note 16 of JPMorgan Chase’s 2015 Annual Report . During the three months ended September 30, 2016 and 2015 , the Firm transferred $1.2 billion and $6.6 billion , respectively, of securities to agency VIEs, and $503 million and $50 million , respectively, of securities to private-label VIEs. During the nine months ended September 30, 2016 and 2015 , the Firm transferred $7.6 billion and $16.8 billion , respectively, of securities to agency VIEs, and $647 million and $777 million , respectively, of securities to private-label VIEs. As of September 30, 2016 , and December 31, 2015 , 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 $2.4 billion and $2.2 billion , respectively. At September 30, 2016 , and December 31, 2015 , the Firm held approximately $1.3 billion and $4.6 billion , respectively, of interests in nonconsolidated agency re-securitization entities. The Firm’s exposure to non-consolidated private-label re-securitization entities as of September 30, 2016 , and December 31, 2015 was not material. As of September 30, 2016 , and December 31, 2015 , the Firm did not consolidate any agency re-securitizations. As of September 30, 2016 , and December 31, 2015 , the Firm consolidated an insignificant amount of assets and liabilities of Firm-sponsored private-label re-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 2015 Annual Report . In the normal course of business, JPMorgan Chase makes markets in and invests in commercial paper issued by the Firm -administered multi-seller conduits. The Firm held $21.2 billion and $15.7 billion of the commercial paper issued by the Firm -administered multi-seller conduits at September 30, 2016 , and December 31, 2015 , respectively. 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 have been eliminated in consolidation. The Firm or the Firm-administered multi-seller conduits provide lending-related commitments to certain clients of the Firm-administered multi-seller conduits. The unfunded portion of these commitments was $9.1 billion and $5.6 billion at September 30, 2016 , and December 31, 2015 , 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 2015 Annual Report . The Firm’s exposure to nonconsolidated municipal bond VIEs at September 30, 2016 , and December 31, 2015 , including the ratings profile of the VIEs’ assets, was as follows. (in millions) Fair value of assets held by VIEs Liquidity facilities Excess/(deficit) (a) Maximum exposure Nonconsolidated municipal bond vehicles September 30, 2016 $ 1,916 $ 1,136 $ 780 $ 1,136 December 31, 2015 6,937 3,794 3,143 3,794 Ratings profile of VIE assets (b) Fair value of assets held by VIEs Wt. avg. expected life of assets (years) Investment-grade (in millions, except where otherwise noted) AAA to AAA- AA+ to AA- A+ to A- BBB+ to BBB- Unrated (c) September 30, 2016 $ 474 $ 1,195 $ 108 $ 24 $ 115 $ 1,916 3.7 December 31, 2015 1,743 4,631 448 24 91 6,937 4.0 (a) Represents the excess of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (b) The ratings scale is presented on an S&P-equivalent basis. (c) These security positions have been defeased by the municipality and no longer carry credit ratings, but are backed by high quality assets such as U.S. treasuries and cash. VIEs sponsored by third parties The Firm enters into transactions with VIEs structured by other parties. These include, for example, acting as a derivative counterparty, liquidity provider, investor, underwriter, placement agent, remarketing 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 in the same manner 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, 2016 , and December 31, 2015 . Assets Liabilities September 30, 2016 (in millions) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type (a) Firm-sponsored credit card trusts $ — $ 45,011 $ 798 $ 45,809 $ 33,424 $ 18 $ 33,442 Firm-administered multi-seller conduits — 24,833 42 24,875 3,659 31 3,690 Municipal bond vehicles 2,915 — 9 2,924 2,962 2 2,964 Mortgage securitization entities (b) 73 4,742 162 4,977 417 563 980 Student loan securitization entities — 1,747 55 1,802 1,583 5 1,588 Other 181 — 2,371 2,552 188 119 307 Total $ 3,169 $ 76,333 $ 3,437 $ 82,939 $ 42,233 $ 738 $ 42,971 Assets Liabilities December 31, 2015 (in millions) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type (a) Firm-sponsored credit card trusts $ — $ 47,358 $ 718 $ 48,076 $ 27,906 $ 15 $ 27,921 Firm-administered multi-seller conduits — 24,388 37 24,425 8,724 19 8,743 Municipal bond vehicles 2,686 — 5 2,691 2,597 1 2,598 Mortgage securitization entities (b) 840 1,433 27 2,300 777 643 1,420 Student loan securitization entities — 1,925 62 1,987 1,760 5 1,765 Other 210 — 1,916 2,126 115 126 241 Total $ 3,736 $ 75,104 $ 2,765 $ 81,605 $ 41,879 $ 809 $ 42,688 (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 and other assets on 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 VIEs.” 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 $35.6 billion and $30.6 billion at September 30, 2016 , and December 31, 2015 , respectively. The maturities of the long-term beneficial interests as of September 30, 2016 , were as follows: $11.6 billion under one year, $21.3 billion between one and five years, and $2.7 billion over five years. (f) Includes liabilities classified as accounts payable and other liabilities on the Consolidated balance sheets. Loan securitizations The Firm has securitized and sold 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 2015 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, 2016 and 2015 , 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, 2016 2015 2016 2015 (in millions) 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 $ 698 $ 3,428 $ 971 $ 2,982 $ 1,111 $ 5,786 $ 2,663 $ 9,033 All cash flows during the period: (a) Proceeds from new securitizations (b) $ 709 $ 3,551 $ 972 $ 2,995 $ 1,122 $ 5,924 $ 2,674 $ 9,053 Servicing fees collected 111 1 129 — 334 2 409 2 Purchases of previously transferred financial assets (or the underlying collateral) (c) — — 1 — 37 — 2 — Cash flows received on interests 121 535 122 172 326 1,115 308 379 (a) Excludes re-securitization transactions. (b) For the three and nine months ended September 30, 2016 , $709 million and $1.1 billion , respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy. For the three and nine months ended September 30, 2016 , $3.6 billion and $5.9 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2, and $0 million and $2 million , respectively, of proceeds were classified as level 3 of the fair value hierarchy. 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 for both periods $59 million of proceeds were classified as level 3 of the fair value hierarchy, respectively. 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 were classified as level 3 of the fair value hierarchy, and no proceeds from commercial mortgage securitization were received as cash. All loans transferred into securitization vehicles during the three and nine months ended September 30, 2016 and 2015, were classified as trading assets; and changes in fair value were recorded in principal transactions revenue. The Firm elected the fair value option for loans pending securitization. The carrying value of these loans accounted for at fair value approximated the proceeds received from securitization. (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 mortgage and student loan securitizations. Loans and excess MSRs sold to U.S. government-sponsored enterprises, 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 U.S. government-sponsored enterprises (“ U.S. GSEs”). These loans and excess MSRs are sold primarily for the purpose of securitization by the U.S. 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 these transactions 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 21 of this Form 10-Q, and Note 29 of JPMorgan Chase’s 2015 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 U.S. 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) 2016 2015 2016 2015 Carrying value of loans sold $ 14,811 $ 11,394 $ 32,647 $ 34,193 Proceeds received from loan sales as cash 68 139 306 238 Proceeds received from loans sales as securities (a) 14,610 11,170 32,113 33,758 Total proceeds received from loan sales (b) $ 14,678 $ 11,309 $ 32,419 $ 33,996 Gains on loan sales (c) $ 50 $ 61 $ 164 $ 238 (a) Predominantly i ncludes securities from U.S. GSEs and Ginnie Mae that are generally sold shortly after receipt. (b) Excludes the value of MSRs retained upon the sale of loans. Gains on loan sales include the value of MSRs. (c) The carrying value of the loans accounted for at fair value approximated the proceeds received upon loan sale. Options to repurchase delinquent loans In addition to the Firm’s obligation to repurchase certain loans due to material breaches of representations and warranties as discussed in Note 21 , the Firm also has the option to repurchase delinquent loans that it services for Ginnie Mae loan pools, as well as for other U.S. government agencies under certain arrangements. The Firm 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, 2016 , and December 31, 2015 , the Firm had recorded on its Consolidated balance sheets $9.9 billion and $11.1 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 $163 million and $343 million as of September 30, 2016 , and December 31, 2015 , respectively. Substantially all of these loans and REO 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 2015 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, 2016 , and December 31, 2015 . 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, 2016 2015 2016 2015 Securitized loans (a) Residential mortgage: Prime / Alt-A & option ARMs $ 59,790 $ 66,708 $ 6,509 $ 8,325 $ 275 $ 486 $ 933 $ 1,402 Subprime 20,594 22,549 4,379 5,448 280 380 898 1,105 Commercial and other 73,454 80,319 1,324 1,808 78 211 564 350 Total loans securitized $ 153,838 $ 169,576 $ 12,212 $ 15,581 $ 633 $ 1,077 $ 2,395 $ 2,857 (a) Total assets held in securitization-related SPEs were $209.8 billion and $233.6 billion , respectively, at September 30, 2016 , and December 31, 2015 . The $153.8 billion and $169.6 billion , respectively, of loans securitized at September 30, 2016 , and December 31, 2015 , excluded: $51.1 billion and $62.4 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $4.9 billion and $1.6 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at September 30, 2016 , and December 31, 2015 . |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report . The following table presents goodwill attributed to the business segments. (in millions) September 30, December 31, Consumer & Community Banking $ 30,806 $ 30,769 Corporate & Investment Bank 6,775 6,772 Commercial Banking 2,861 2,861 Asset Management 6,860 6,923 Total goodwill $ 47,302 $ 47,325 The following table presents changes in the carrying amount of goodwill. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Balance at beginning of period $ 47,303 $ 47,476 $ 47,325 $ 47,647 Changes during the period from: Business combinations — 8 — 25 Dispositions (a) — — (71 ) (101 ) Other (b) (1 ) (79 ) 48 (166 ) Balance at September 30, $ 47,302 $ 47,405 $ 47,302 $ 47,405 (a) During the nine months ended September 30, 2016 , represents AM goodwill, which was disposed of as part of AM sales completed in March 2016. During the nine months ended September 30, 2015, represents Private Equity goodwill, which was disposed of as part of a Private Equity sale completed in January 2015. (b) Includes foreign currency translation adjustments and other tax-related adjustments. Goodwill Impairment testing For further description of the Firm’s goodwill impairment testing, 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 274–275 of JPMorgan Chase ’s 2015 Annual Report . Goodwill was not impaired at September 30, 2016 , or December 31, 2015 , nor was goodwill written off due to impairment during the nine months ended September 30, 2016 or 2015. Declines in business performance, increases in credit losses, increases in equity capital requirements, as well as deterioration in economic or market conditions, adverse estimates of the impact of regulatory or legislative changes or increases in the estimated market 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 2015 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, 2016 and 2015 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2016 2015 2016 2015 Fair value at beginning of period $ 5,072 $ 7,571 $ 6,608 $ 7,436 MSR activity: Originations of MSRs 190 147 410 447 Purchase of MSRs — (4 ) — 435 Disposition of MSRs (a) (5 ) — (72 ) (375 ) Net additions 185 143 338 507 Changes due to collection/realization of expected cash flows (233 ) (233 ) (713 ) (677 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (b) (35 ) (677 ) (1,230 ) (338 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (21 ) (76 ) (28 ) (103 ) Discount rates — — 7 (10 ) Prepayment model changes and other (c) (31 ) (12 ) (45 ) (99 ) Total changes in valuation due to other inputs and assumptions (52 ) (88 ) (66 ) (212 ) Total changes in valuation due to inputs and assumptions (87 ) (765 ) (1,296 ) (550 ) Fair value at September 30, $ 4,937 $ 6,716 $ 4,937 $ 6,716 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ (87 ) $ (765 ) $ (1,296 ) $ (550 ) Contractual service fees, late fees and other ancillary fees included in income 523 634 1,629 1,945 Third-party mortgage loans serviced at September 30, (in billions) 611 706 611 706 Net servicer advances at September 30, (in billions) (d) 5.0 6.6 5.0 6.6 (a) For the nine months ended September 30, 2016 , 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, 2016 and nine months ended September 30, 2016 and 2015 . (b) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (c) Represents changes in prepayments other than those attributable to changes in market interest rates. (d) 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. 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, 2016 and 2015 . Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 CCB mortgage fees and related income Net production revenue $ 247 $ 176 $ 670 $ 646 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 571 648 1,780 2,104 Changes in MSR asset fair value due to collection/realization of expected cash flows (232 ) (232 ) (710 ) (674 ) Total operating revenue 339 416 1,070 1,430 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) (35 ) (677 ) (1,230 ) (338 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (52 ) (88 ) (66 ) (212 ) Change in derivative fair value and other 125 642 1,536 429 Total risk management 38 (123 ) 240 (121 ) Total net mortgage servicing revenue 377 293 1,310 1,309 Total CCB mortgage fees and related income 624 469 1,980 1,955 All other — — — 2 Mortgage fees and related income $ 624 $ 469 $ 1,980 $ 1,957 (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, 2016 , and December 31, 2015 , 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”) 14.43 % 9.81 % Impact on fair value of 10% adverse change $ (262 ) $ (275 ) Impact on fair value of 20% adverse change (500 ) (529 ) Weighted-average option adjusted spread 9.87 % 9.54 % Impact on fair value of a 100 basis point adverse change $ (177 ) $ (258 ) Impact on fair value of a 200 basis point adverse change (340 ) (498 ) 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 could either magnify or counteract the impact of the initial change. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2016 | |
Deposits [Abstract] | |
Deposits | Deposits For further discussion on deposits, see Note 19 of JPMorgan Chase’s 2015 Annual Report. At September 30, 2016 , and December 31, 2015 , noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, December 31, 2015 U.S. offices Noninterest-bearing $ 409,912 $ 392,721 Interest-bearing (included $11,624 and $10,916 at fair value) (a) 722,294 663,004 Total deposits in U.S. offices 1,132,206 1,055,725 Non-U.S. offices Noninterest-bearing 19,397 18,921 Interest-bearing (included $1,367 and $1,600 at fair value) (a) 224,535 205,069 Total deposits in non-U.S. offices 243,932 223,990 Total deposits $ 1,376,138 $ 1,279,715 (a) 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 2015 Annual Report . |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report . The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2016 and 2015 . (in millions, except per share amounts) Three months ended Nine months ended 2016 2015 2016 2015 Basic earnings per share Net income $ 6,286 $ 6,804 $ 18,006 $ 19,008 Less: Preferred stock dividends 412 393 1,235 1,097 Net income applicable to common equity 5,874 6,411 16,771 17,911 Less: Dividends and undistributed earnings allocated to participating securities 127 141 368 413 Net income applicable to common stockholders $ 5,747 $ 6,270 $ 16,403 $ 17,498 Total weighted-average basic shares outstanding 3,597.4 3,694.4 3,634.4 3,709.2 Net income per share $ 1.60 $ 1.70 $ 4.51 $ 4.72 Diluted earnings per share Net income applicable to common stockholders $ 5,747 $ 6,270 $ 16,403 $ 17,498 Total weighted-average basic shares outstanding 3,597.4 3,694.4 3,634.4 3,709.2 Add: Employee stock options, SARs, warrants and PSUs 32.2 31.2 29.9 33.0 Total weighted-average diluted shares outstanding (a) 3,629.6 3,725.6 3,664.3 3,742.2 Net income per share $ 1.58 $ 1.68 $ 4.48 $ 4.68 (a) 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, 2016 | |
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, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans, and DVA on fair value option elected liabilities. Effective January 1, 2016, the Firm adopted new accounting guidance related to the recognition and measurement of financial liabilities where the fair value option has been elected. This guidance requires the portion of the total change in fair value caused by changes in the Firm’s own credit risk (DVA) to be presented separately in OCI; previously these amounts were recognized in net income. The guidance was required to be applied as of the beginning of the fiscal year of adoption by means of a cumulative effect adjustment to the Consolidated balance sheets, which resulted in a reclassification from retained earnings to AOCI. As of or for the three months ended (in millions) Unrealized gains/(losses) on investment securities (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and OPEB plans DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2016 $ 3,921 $ (161 ) $ (201 ) $ (2,150 ) $ 209 $ 1,618 Net change (160 ) 4 36 42 (66 ) (144 ) Balance at September 30, 2016 $ 3,761 $ (157 ) $ (165 ) $ (2,108 ) $ 143 $ 1,474 As of or for the three months ended (in millions) Unrealized gains/(losses) on investment securities (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and OPEB plans DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) NA $ 1,102 Net change (291 ) (5 ) (106 ) 51 NA (351 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) NA $ 751 As of or for the nine months ended (in millions) Unrealized (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2016 $ 2,629 $ (162 ) $ (44 ) $ (2,231 ) NA $ 192 Cumulative effect of change in accounting principle — — — — 154 154 Net change 1,132 5 (121 ) 123 (11 ) 1,128 Balance at September 30, 2016 $ 3,761 $ (157 ) $ (165 ) $ (2,108 ) $ 143 $ 1,474 As of or for the nine months ended (in millions) Unrealized (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2015 $ 4,773 $ (147 ) $ (95 ) $ (2,342 ) NA $ 2,189 Net change (1,621 ) (12 ) 51 144 NA (1,438 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) NA $ 751 (a) Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS, including net unamortized unrealized gains and losses related to AFS securities transferred to HTM. The following table presents the pre-tax and after-tax changes in the components of OCI. 2016 2015 Three months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (192 ) $ 72 $ (120 ) $ (430 ) $ 160 $ (270 ) Reclassification adjustment for realized (gains)/losses included in net income (a) (64 ) 24 (40 ) (33 ) 12 (21 ) Net change (256 ) 96 (160 ) (463 ) 172 (291 ) Translation adjustments (b) : Translation 34 (12 ) 22 (912 ) 340 (572 ) Hedges (30 ) 12 (18 ) 908 (341 ) 567 Net change 4 — 4 (4 ) (1 ) (5 ) Cash flow hedges: Net unrealized gains/(losses) arising during the period (64 ) 23 (41 ) (175 ) 66 (109 ) Reclassification adjustment for realized (gains)/losses included in net income (c) 122 (45 ) 77 5 (2 ) 3 Net change 58 (22 ) 36 (170 ) 64 (106 ) Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — — — — Reclassification adjustments included in net income (d) : Amortization of net loss 65 (24 ) 41 71 (27 ) 44 Prior service costs/(credits) (9 ) 3 (6 ) (9 ) 3 (6 ) Foreign exchange and other 12 (5 ) 7 20 (7 ) 13 Net change 68 (26 ) 42 82 (31 ) 51 DVA on fair value option elected liabilities, net change: (106 ) 40 (66 ) NA NA NA Total other comprehensive income/(loss) $ (232 ) $ 88 $ (144 ) $ (555 ) $ 204 $ (351 ) 2016 2015 Nine months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ 1,948 $ (731 ) $ 1,217 $ (2,548 ) $ 1,008 $ (1,540 ) Reclassification adjustment for realized (gains)/losses included in (a) (136 ) 51 (85 ) (129 ) 48 (81 ) Net change 1,812 (680 ) 1,132 (2,677 ) 1,056 (1,621 ) Translation adjustments: Translation (b) 613 (228 ) 385 (1,645 ) 601 (1,044 ) Hedges (b) (603 ) 223 (380 ) 1,651 (619 ) 1,032 Net change 10 (5 ) 5 6 (18 ) (12 ) Cash flow hedges: Net unrealized gains/(losses) arising during the period (418 ) 156 (262 ) (104 ) 38 (66 ) Reclassification adjustment for realized (gains)/losses included in (c)(e) 225 (84 ) 141 187 (70 ) 117 Net change (193 ) 72 (121 ) 83 (32 ) 51 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period (15 ) 6 (9 ) 101 (39 ) 62 Reclassification adjustments included in net income (d) : Amortization of net loss 193 (73 ) 120 212 (80 ) 132 Prior service costs/(credits) (27 ) 10 (17 ) (27 ) 10 (17 ) Foreign exchange and other 46 (17 ) 29 20 (53 ) (33 ) Net change 197 (74 ) 123 306 (162 ) 144 DVA on fair value option elected liabilities, net change: $ (18 ) $ 7 (11 ) NA NA NA Total other comprehensive income/(loss) $ 1,808 $ (680 ) $ 1,128 $ (2,282 ) $ 844 $ (1,438 ) (a) The pre-tax amount is reported in securities gains in the Consolidated statements of income. (b) Reclassifications of pre-tax 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 pre-tax amounts are predominantly recorded in net interest income in the Consolidated statements of income. (d) In 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 . (e) The pre-tax amount is reported in compensation expense in the Consolidated statements of income. |
Regulatory Capital
Regulatory Capital | 9 Months Ended |
Sep. 30, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | Regulatory capital The Federal Reserve establishes capital requirements, including well-capitalized standards, for the consolidated financial holding company. The OCC establishes similar capital requirements and standards for the Firm’s national banks, including JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A. 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 IDI subsidiaries, revised, among other things, the definition of capital and introduced a new CET1 capital requirement; presents two comprehensive methodologies for calculating RWA, a general (Standardized) approach, (“Basel III Standardized”) and an advanced approach, (“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 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. 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 $ 181,606 $ 175,398 $ 181,606 $ 175,398 Tier 1 capital (a) 206,430 200,482 206,430 200,482 Total capital 241,004 234,413 229,324 224,616 Assets Risk-weighted 1,480,291 1,465,262 1,515,177 1,485,336 Adjusted average (b) 2,427,423 2,358,471 2,427,423 2,358,471 Capital ratios (c) CET1 12.3 % 12.0 % 12.0 % 11.8 % Tier 1 (a) 13.9 13.7 13.6 13.5 Total 16.3 16.0 15.1 15.1 Tier 1 leverage (d) 8.5 8.5 8.5 8.5 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 $ 176,083 $ 168,857 $ 176,083 $ 168,857 Tier 1 capital (a) 176,375 169,222 176,375 169,222 Total capital 190,955 183,262 182,984 176,423 Assets Risk-weighted 1,319,671 1,264,056 1,302,659 1,249,607 Adjusted (b) 2,041,246 1,910,934 2,041,246 1,910,934 Capital ratios (c) CET1 13.3 % 13.4 % 13.5 % 13.5 % Tier 1 (a) 13.4 13.4 13.5 13.5 Total 14.5 14.5 14.0 14.1 Tier 1 leverage (d) 8.6 8.9 8.6 8.9 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 $ 16,597 $ 15,419 $ 16,597 $ 15,419 Tier 1 capital (a) 16,597 15,419 16,597 15,419 Total capital 22,602 21,418 21,247 20,069 Assets Risk-weighted 106,507 105,807 184,858 181,775 Adjusted (b) 121,335 134,152 121,335 134,152 Capital ratios (c) CET1 15.6 % 14.6 % 9.0 % 8.5 % Tier 1 (a) 15.6 14.6 9.0 8.5 Total 21.2 20.2 11.5 11.0 Tier 1 leverage (d) 13.7 11.5 13.7 11.5 (a) Includes the deduction associated with the permissible holdings of covered funds (as defined by the Volcker Rule) acquired after December 31, 2013 which was not material as of September 30, 2016 . (b) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for unrealized gains/(losses) on AFS securities, less deductions for goodwill and other intangible assets, defined benefit pension plan assets, and deferred tax assets related to NOL and tax credit carryforwards. (c) For each of the risk-based capital ratios, the capital adequacy of the Firm and its national bank subsidiaries is evaluated against the Basel III approach, Standardized or Advanced, which results in the lower ratio (the “Collins Floor”), as required by the Collins Amendment of the Dodd-Frank Act. (d) The Tier 1 leverage ratio is not a risk-based measure of capital. This ratio is calculated by dividing Tier 1 capital by adjusted average assets. (e) Asset and capital amounts for JPMorgan Chase ’s banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. Note: Rating agencies allow measures of capital to be adjusted upward for deferred tax liabilities, which have resulted from both nontaxable business combinations and from tax-deductible goodwill. The Firm had deferred tax liabilities resulting from nontaxable business combinations totaling $88 million and $105 million at September 30, 2016 , and December 31, 2015 , respectively; and deferred tax liabilities resulting from tax-deductible goodwill of $3.1 billion and $3.0 billion at September 30, 2016 , and December 31, 2015 , respectively. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of CET1, Tier 1 and Total capital to RWA, 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, 2016 . Minimum capital ratios Well-capitalized ratios BHC (a) IDI (b) BHC (c) IDI (d) Capital ratios CET1 6.25 % 5.125 % — % 6.5 % Tier 1 7.75 6.625 6.0 8.0 Total 9.75 8.625 10.0 10.0 Tier 1 leverage 4.0 4.0 — 5.0 Note: The table above is 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. (a) Represents the transitional minimum capital ratios applicable to the Firm under Basel III at September 30, 2016 . Commencing in the first quarter of 2016, the CET1 minimum capital ratio includes 0.625% resulting from the phase in of the Firm’s 2.5% capital conservation buffer and 1.125% , resulting from the phase in of the Firm’s estimated 4.5% GSIB surcharge as of December 31, 2014 published by the Federal Reserve on July 20, 2015. (b) Represents requirements for JPMorgan Chase ’s banking subsidiaries. The CET1 minimum capital ratio includes 0.625% resulting from the phase in of the 2.5% capital conservation buffer that is applicable to the banking subsidiaries. The banking subsidiaries are not subject to the GSIB surcharge. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. (d) Represents requirements for bank subsidiaries pursuant to regulations issued under the FDIC Improvement Act. As of September 30, 2016 , and December 31, 2015 , 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, 2016 | |
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 are refinanced, extended, cancelled, or 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 2015 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, 2016 , and December 31, 2015 . 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 HELOCs 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 (h) September 30, 2016 Dec 31, Sep 30, Dec 31, By remaining maturity Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity $ 4,272 $ 4,628 $ 1,038 $ 11,874 $ 21,812 $ 22,756 $ — $ — Residential mortgage (a) 14,896 — — — 14,896 12,992 — — Auto 9,538 500 160 1 10,199 10,237 2 2 Business banking 11,653 676 131 479 12,939 12,351 12 12 Student and other 107 — — 37 144 142 — — Total consumer, excluding credit card $ 40,466 $ 5,804 $ 1,329 $ 12,391 $ 59,990 $ 58,478 $ 14 $ 14 Credit card $ 549,634 $ — $ — $ — $ 549,634 $ 515,518 $ — $ — Total consumer (b) $ 590,100 $ 5,804 $ 1,329 $ 12,391 $ 609,624 $ 573,996 $ 14 $ 14 Wholesale: Other unfunded commitments to extend credit (c)(d) $ 67,028 $ 113,031 $ 142,917 $ 6,617 $ 329,593 $ 323,325 $ 938 $ 649 Standby letters of credit and other financial guarantees (c)(d) 16,571 11,482 7,148 1,046 36,247 39,133 573 548 Other letters of credit (c) 2,955 155 37 — 3,147 3,941 1 2 Total wholesale (e) $ 86,554 $ 124,668 $ 150,102 $ 7,663 $ 368,987 $ 366,399 $ 1,512 $ 1,199 Total lending-related $ 676,654 $ 130,472 $ 151,431 $ 20,054 $ 978,611 $ 940,395 $ 1,526 $ 1,213 Other guarantees and commitments Securities lending indemnification agreements and guarantees (f) $ 163,855 $ — $ — $ — $ 163,855 $ 183,329 $ — $ — Derivatives qualifying as guarantees 2,900 724 10,922 39,360 53,906 53,784 230 222 Unsettled reverse repurchase and securities borrowing agreements 76,810 — — — 76,810 42,482 — — Unsettled repurchase and securities lending agreements 54,023 — — — 54,023 21,798 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 136 148 Loans sold with recourse NA NA NA NA 3,303 4,274 66 82 Other guarantees and commitments (g) 954 2,662 1,033 1,553 6,202 5,580 (72 ) (94 ) (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, 2016 , and December 31, 2015 , reflected the contractual amount net of risk participations totaling $345 million and $385 million , respectively, for other unfunded commitments to extend credit; $10.6 billion and $11.2 billion , respectively, for standby letters of credit and other financial guarantees; and $320 million and $341 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, 2016 , and December 31, 2015 , included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $10.3 billion and $12.3 billion , respectively, within other unfunded commitments to extend credit; and $7.4 billion and $9.6 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; see Note 15 . (e) At September 30, 2016 , and December 31, 2015 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 75% and 77% , respectively. (f) At September 30, 2016 , and December 31, 2015 , collateral held by the Firm in support of securities lending indemnification agreements was $170.3 billion and $190.6 billion , respectively. Securities lending collateral consists of primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development and U.S. government agencies. (g) At September 30, 2016 , and December 31, 2015 , included unfunded commitments of $49 million and $50 million , respectively, to third-party private equity funds; and $1.4 billion and $871 million , at September 30, 2016 , and December 31, 2015 , respectively, to other equity investments. These commitments included $67 million and $73 million , respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3 . In addition, at September 30, 2016 , and December 31, 2015 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.7 billion and $4.6 billion , respectively. (h) 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 consist of 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. The Firm also issues commitments under multipurpose facilities which could be drawn upon in several forms, including the issuance of a standby letter of credit. In the second quarter of 2016, the Firm implemented interagency guidance on the definition of leveraged financing, which broadened the scope of sectors beyond that of Commercial & Industrial and transactions beyond those of buyouts, acquisitions or capital distributions, and modified the methodology for calculating leveraged ratios. As of September 30, 2016 , included in other unfunded commitments to extend credit, are noninvestment-grade exposures to leveraged finance counterparties, which totaled $60.6 billion . 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, 2016 , and December 31, 2015 , the secured clearance advance facility maximum outstanding commitment amount was $2.4 billion and $2.9 billion , respectively. Standby letters of credit and other financial guarantees Standby letters of credit 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 following table summarizes the standby letters of credit and other letters of credit arrangements as of September 30, 2016 , and December 31, 2015 . Standby letters of credit, other financial guarantees and other letters of credit September 30, 2016 December 31, 2015 (in millions) Standby letters of Other letters of credit Standby letters of Other letters of credit Investment-grade (a) $ 28,388 $ 2,497 $ 31,751 $ 3,290 Noninvestment-grade (a) 7,859 650 7,382 651 Total contractual amount $ 36,247 $ 3,147 $ 39,133 $ 3,941 Allowance for lending-related commitments $ 147 $ 1 $ 121 $ 2 Guarantee liability 426 — 427 — Total carrying value $ 573 $ 1 $ 548 $ 2 Commitments with collateral $ 20,359 $ 580 $ 18,825 $ 996 (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 2015 Annual Report . The total notional value of the derivatives that the Firm deems to be guarantees was $53.9 billion and $53.8 billion at September 30, 2016 , and December 31, 2015 , 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 $28.6 billion and $28.4 billion at September 30, 2016 , and December 31, 2015 , respectively, and the maximum exposure to loss was $3.0 billion and $3.0 billion at September 30, 2016 , and December 31, 2015 . 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 $237 million and $236 million at September 30, 2016 , and December 31, 2015 , respectively, and derivative receivables of $7 million and $14 million at September 30, 2016 , and December 31, 2015 , 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 In connection with the Firm’s mortgage loan sale and securitization activities with GSEs and in certain private label transactions, the Firm has made representations and warranties that the loans sold meet certain requirements that may require the Firm to repurchase mortgage loans and/or indemnify the loan purchaser. Further, although the Firm’s securitizations are predominantly nonrecourse, the Firm does provide recourse servicing in certain limited cases where it agrees to share credit risk with the owner of the mortgage loans. For additional information, see Note 29 of JPMorgan Chase’s 2015 Annual Report. 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 2015 Annual Report. Guarantees of subsidiary JPMorgan Chase Financial Company LLC (“JPMFC”), a direct, 100% -owned finance subsidiary of the Parent Company, was formed on September 30, 2015, for the purpose of issuing debt and other securities in offerings to investors. Securities issued by JPMFC are fully and unconditionally guaranteed by the Parent Company, and these guarantees rank on a parity with the Firm’s unsecured and unsubordinated indebtedness. |
Pledged Assets and Collateral
Pledged Assets and Collateral | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 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, and to cover customer short sales . Certain of these pledged assets may be sold or repledged or otherwise used by the secured parties and are identified as financial instruments owned (pledged to various parties) on the Consolidated balance sheets. At September 30, 2016 , and December 31, 2015 , the Firm had pledged assets of $425.6 billion and $385.6 billion , respectively, at Federal Reserve banks and FHLBs. In addition, as of September 30, 2016 , and December 31, 2015 , the Firm had pledged $54.8 billion and $50.7 billion , respectively, of financial assets that may not be sold or repledged or otherwise used 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 2015 Annual Report . Collateral At September 30, 2016 , and December 31, 2015 , the Firm had accepted financial assets as collateral that it could sell or repledge, deliver or otherwise use with a fair value of $893.8 billion and $748.5 billion , respectively. This collateral was generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Of the collateral received, $710.5 billion and $580.9 billion , respectively, were sold, repledged, delivered or otherwise used. Collateral was generally used under repurchase agreements, securities lending agreements or to cover customer short sales and to collateralize deposits and derivative agreements. |
Litigation
Litigation | 9 Months Ended |
Sep. 30, 2016 | |
Litigation [Abstract] | |
Litigation | Litigation Contingencies As of September 30, 2016 , the Firm and its subsidiaries and affiliates 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 $3.1 billion at September 30, 2016 . This estimated aggregate range of reasonably possible losses was 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, as of that date. 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 significantly. 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, and in a consolidated putative class action brought under the Employee Retirement Income Security Act (“ERISA”), relating to 2012 losses in the synthetic credit portfolio formerly managed by the Firm’s Chief Investment Office (“CIO”). A settlement of the shareholder class action, under which the Firm will pay $150 million , has received final court approval over objections from two individuals. One of the objectors is seeking to appeal the approval of the settlement. The putative ERISA class action has been dismissed, and that dismissal has been affirmed by the appellate court, but the plaintiffs have filed a motion for rehearing. 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. FX-related investigations and inquiries by government authorities, including competition authorities, are ongoing, and the Firm is cooperating with those matters. The sentencing in connection with the Firm’s agreement in May 2015 to plead guilty to a single violation of federal antitrust law has been scheduled for December 15, 2016. The Firm has an application pending with the Department of Labor to secure a necessary waiver in advance of sentencing. The Firm is also one of a number of foreign exchange dealers defending a class action filed in the United States District Court for the Southern District of New York by U.S.-based plaintiffs, principally alleging violations of federal antitrust laws based on an alleged conspiracy to manipulate foreign exchange rates (the “U.S. class action”). In January 2015, the Firm entered into a settlement agreement in the U.S. class action. Following this settlement, a number of additional putative 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 (the “consumer action”), participants or beneficiaries of qualified ERISA plans (the “ERISA actions”), and purported indirect purchasers of FX instruments (the “indirect purchaser action”). Since then, the Firm has entered into a revised settlement agreement to resolve the consolidated U.S. class action, including the exchange-based actions, and that agreement has been preliminarily approved by the Court. The District Court has dismissed one of the ERISA actions, and the plaintiffs have filed an appeal. The consumer action, a second ERISA action and the indirect purchaser action remain pending in the District Court. 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 January 2015, following several court proceedings, the United States Court of Appeals for the Second Circuit 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. The proceedings in the Bankruptcy Court continue 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 that was unaffected by the filing of the termination statement at issue. In addition, certain Term Loan lenders filed cross-claims against JPMorgan Chase Bank, N.A. in the Bankruptcy Court seeking indemnification and asserting various claims. 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 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 provided for modifications to each credit card network’s rules, including those that prohibit surcharging credit card transactions. In December 2013, the District Court granted final approval of the settlement. A number of merchants appealed to the United States Court of Appeals for the Second Circuit, which, in June 2016, vacated the District Court’s certification of the class action and reversed the approval of the class settlement. The case has been remanded to the District Court for further proceedings consistent with the appellate decision. 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, and those actions are proceeding. Investment Management Litigation. The Firm is defending two pending cases that are coordinated for pre-trial and trial purposes, alleging 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 total losses of more than $1 billion in market value of these securities. Discovery has been completed. In January 2016, plaintiffs filed a joint partial motion for summary judgment in the coordinated actions, which JPMIM has opposed. The trial is scheduled to begin in March 2017. Lehman Brothers Bankruptcy Proceedings. In January 2016, JPMorgan Chase Bank, N.A. and Lehman Brothers Holdings Inc. (“LBHI”) and several of LBHI’s subsidiaries reached an agreement, approved by the Bankruptcy Court, under which the Firm paid $1.42 billion to settle a variety of claims asserted by LBHI and those subsidiaries in multiple separate litigations and claims objections. In those actions, LBHI had alleged, among other things, that it was entitled to recover $7.9 billion that was transferred to JPMorgan Chase Bank, N.A. in the weeks preceding LBHI’s bankruptcy, that JPMorgan Chase Bank, N.A.’s collateral requests hastened LBHI’s bankruptcy, and that LBHI was entitled to damages resulting from the Firm filing allegedly overstated claims relating to the close-out of derivatives positions following the Lehman bankruptcy. The January 2016 settlement did not resolve the following remaining matters: In the Bankruptcy Court proceedings, LBHI and its Official Committee of Unsecured Creditors filed an objection to the claims asserted by JPMorgan Chase Bank, N.A. against LBHI with respect to clearing advances made to Lehman Brothers Inc., 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. LBHI also brought two claims objections relating to securities lending claims and a group of other smaller claims. Discovery with respect to these objections is ongoing. LIBOR and Other Benchmark Rate Investigations and Litigation. JPMorgan Chase has received subpoenas and requests for documents and, in some cases, interviews, from federal and state agencies and entities, including the DOJ, the U.S. Commodity Futures Trading Commission (“CFTC”), the U.S. Securities and Exchange Commission (“SEC”) and various state attorneys general, as well as the European Commission (“EC”), the U.K. Financial Conduct Authority (“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. In June 2016, the DOJ informed the Firm that the DOJ had closed its inquiry into LIBOR and other benchmark rates with respect to the Firm without taking action. 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 putative class actions filed in various United States District Courts. These actions have been filed, or consolidated for pre-trial purposes, in the United States District Court for the Southern District of New York. In these actions, 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, EURIBOR, Singapore Interbank Offered Rate (“SIBOR”), Singapore Swap Offer Rate (“SOR”) and/or the Bank Bill Swap Reference Rate (“BBSW”) 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, EURIBOR, SIBOR, SOR or BBSW and assert a variety of claims including antitrust claims seeking treble damages. These matters are in various stages of litigation. In the U.S. dollar LIBOR-related actions, the Court dismissed certain claims, including the antitrust claims, and permitted other claims under the Commodity Exchange Act and common law to proceed. In May 2016, the United States Court of Appeals for the Second Circuit vacated the dismissal of the antitrust claims and remanded the case to the District Court to consider, among other things, whether the plaintiffs have standing to assert antitrust claims. JPMorgan Chase and other defendants again moved to dismiss the antitrust claims in July 2016. 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 Commodity Exchange Act. In April 2016, the Firm settled the ISDAFIX litigation, along with certain other banks. Those settlements have been preliminarily approved by the Court. Madoff Litigation. A putative class action was 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 a prior class action settlement. These plaintiffs allege violations of the federal securities law, as well as other state and federal claims. A similar action was filed in the United States District Court for the Middle District of Florida, although it was not styled as a class action, and included claims pursuant to Florida statutes. The Florida court granted the Firm’s motion to dismiss the case, and in August 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal. The plaintiffs have filed a petition for writ of certiorari with the United States Supreme Court. In addition, the same plaintiffs have re-filed their dismissed state claims in Florida state court, where the Firm’s motion to dismiss is pending. The New Jersey court granted a transfer motion to the United States District Court for the Southern District of New York, which granted the Firm’s motion to dismiss, and the plaintiffs have filed an appeal of that dismissal. 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. All three actions have been dismissed. Mortgage-Backed Securities and Repurchase Litigation and Related Regulatory Investigations. The Firm 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”). Following the settlements referred to below, the remaining civil cases include one investor action, one action by a monoline insurer relating to Bear Stearns’ role solely as underwriter, and actions for repurchase of mortgage loans. 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 one action remains pending. Issuer Litigation – Individual Purchaser Actions . With the exception of one remaining action, the Firm has settled all of the 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). Underwriter Actions . The Firm is defending one remaining action by a monoline insurer relating to Bear Stearns’ role solely as underwriter for another issuer’s MBS offering. The issuer is defunct. Repurchase Litigation . The Firm is defending a number of actions brought by trustees, securities administrators and/or master servicers of various MBS trusts 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. The Firm has reached a settlement with Deutsche Bank National Trust Company, acting as trustee for various MBS trusts, and the Federal Deposit Insurance Corporation (the “FDIC”) in connection with the litigation related to 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 created between 2005 and 2008. The offer does not resolve claims relating to Washington Mutual MBS. The 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 has received final approval from the court. 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. The Firm has entered into agreements with a number of MBS trustees or entities that purchased MBS that toll applicable statute of 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. Derivative Actions . A shareholder derivative action against the Firm, as nominal defendant, and certain of its current and former officers and members of its Board of Directors relating to the Firm’s MBS activities is pending in California federal court. Defendants have filed a motion to dismiss the action. Government Enforcement Investigations and Litigation . The Firm is responding to an ongoing investigation being conducted by the DOJ’s Criminal Division and two United States Attorney’s Offices relating to MBS offerings securitized and sold by the Firm and its subsidiaries. Mortgage-Related Investigations and Litigation. 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 in connection with its mortgage lending practices. In addition, three municipalities have commenced litigation against the Firm alleging violations of an unfair competition law or the Fair Housing Act. The municipalities seek, among other things, civil penalties for the unfair competition claim, and, for the Fair Housing Act claims, damages resulting from lost tax revenue and increased municipal costs associated with foreclosed properties. The municipal actions are stayed pending an appeal by the City of Los Angeles to the United States Court of Appeals for the Ninth Circuit, as well as the United States Supreme Court’s review of decisions of the United States Court of Appeals for the Eleventh Circuit which held, among other things, that the City of Miami has standing under the Fair Housing Act to pursue similar claims against other banks. In March 2015, JPMorgan Chase Bank, N.A entered into a settlement agreement with the Executive Office for United States Bankruptcy Trustees and the United States Trustee Program (collectively, the “Bankruptcy Trustee”) to resolve issues relating to mortgage payment change notices and escrow statements in bankruptcy proceedings. The Bankruptcy Trustee continues to review certain issues relating to mortgage payment change notices. In January 2016, the OCC determined that, among other things, the mortgage payment change notices issues that were the subject of the settlement with the Bankruptcy Trustee violated the 2011 mortgage servicing-related consent order entered into by JPMorgan Chase Bank, N.A. and the OCC (as amended in 2013 and 2015), and assessed a $48 million civil money penalty. The OCC concurrently terminated that consent order. Municipal Derivatives Litigation. Several civil actions were commenced in New York and Alabama courts against the Firm relating to certain Jefferson County, Alabama (the “County”) warrant underwritings and swap transactions. The claims in the civil actions generally alleged that the Firm made payments to certain third parties in exchange for being chosen to underwrite more than $3 billion in warrants issued by the County and to act as the counterparty for certain swaps executed by the County. The County filed for bankruptcy in November 2011. In June 2013, the County filed a Chapter 9 Plan of Adjustment, as amended (the “Plan of Adjustment”), which provided that all the above-described actions against the Firm would be released and dismissed with prejudice. In November 2013, the Bankruptcy Court confirmed the Plan of Adjustment, and in December 2013, certain sewer rate payers filed an appeal challenging the confirmation of the Plan of Adjustment. All conditions to the Plan of Adjustment’s effectiveness, including the dismissal of the actions against the Firm, were satisfied or waived and the transactions contemplated by the Plan of Adjustment occurred in December 2013. Accordingly, all the above-described actions against the Firm have been dismissed pursuant to the terms of the Plan of Adjustment. The appeal of the Bankruptcy Court’s order confirming the Plan of Adjustment remains pending. Petters Bankruptcy and Related Matters. JPMorgan Chase and certain of its affiliates, including One Equity Partners (“OEP”), have been named as defendants in several actions filed in connection with the receivership and bankruptcy proceedings pertaining to Thomas J. Petters and certain affiliated entities (collectively, “Petters”) and the Polaroid Corporation. The principal actions against JPMorgan Chase and its affiliates have been brought by a court-appointed receiver for Petters and the trustees in bankruptcy proceedings for three Petters entities. These actions generally seek to avoid certain putative transfers in connection with (i) the 2005 acquisition by Petters of Polaroid, which at the time was majority-owned by OEP; (ii) two credit facilities that JPMorgan Chase and other financial institutions entered into with Polaroid; and (iii) a credit line and investment accounts held by Petters. The actions collectively seek recovery of approximately $450 million . The Court has granted the defendants’ motion to dismiss the complaints in the actions filed by the Petters bankruptcy trustees, but has allowed the plaintiffs to file an amended complaint. Proprietary Products Investigations and Litigation. In December 2015, JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC agreed to a settlement with the SEC, and JPMorgan Chase Bank, N.A. agreed to a settlement with the CFTC, regarding disclosures to clients concerning conflicts associated with the Firm’s sale and use of proprietary products, such as J.P. Morgan mutual funds, in the Firm’s wealth management businesses, and the U.S. Private Bank’s disclosures concerning the use of hedge funds that pay placement agent fees to JPMorgan Chase broker-dealer affiliates. The Firm settled with an additional government authority in July 2016, and continues to cooperate with inquiries from other government authorities concerning disclosure of conflicts associated with the Firm’s sale and use of proprietary products. A putative class action, which was filed in the United States District Court for the Northern District of Illinois on behalf of financial advisory clients from 2007 to the present whose funds were invested in proprietary funds and who were charged investment management fees, was dismissed by the Court. Plaintiffs’ appeal of the dismissal is pending. Referral Hiring Practices Investigations. Various regulators, including the DOJ’s Criminal Division as well as the SEC, are investigating, among other things, the Firm’s compliance with the Foreign Corrupt Practices Act and other laws with respect to the Firm’s hiring practices related to candidates referred by clients, potential clients and government officials in the Asia Pacific region, as well as to controls applicable to those activities. The Firm continues to cooperate with these investigations and is currently engaged in discussions with various regulators about resolving their respective investigations. There is no assurance that such discussions will result in settlements. Washington Mutual Litigations. Proceedings related to Washington Mutual’s failure are pending before the United States District Court for the District of Columbia and include a lawsuit brought by Deutsche Bank National Trust Company, initially against the FDIC and amended to include JPMorgan Chase Bank, N.A. as a defendant, asserting an estimated $6 billion to $10 billion in damages based upon alleged breaches of certain representations and warranties given by certain Washington Mutual affiliates in connection with mortgage securitization agreements. The case includes assertions that JPMorgan Chase Bank, N.A. may have assumed liabilities for the alleged breaches of representations and warranties in the mortgage securitization agreements. In June 2015, the court ruled in favor of JPMorgan Chase Bank, N.A. on the question of whether the Firm or the FDIC bears responsibility for Washington Mutual Bank’s repurchase obligations, holding that JPMorgan Chase Bank, N.A. assumed only those liabilities that were reflected on Washington Mutual Bank’s financial accounting records as of September 25, 2008, and only up to the amount of the book value reflected therein. The FDIC has appealed that ruling. JPMorgan Chase has also filed complaints in the United States District Court for the District of Columbia against the FDIC, in its corporate capacity as well as in its capacity as receiver for Washington Mutual Bank, asserting multiple claims for indemnification under the terms of the Purchase & Assumption Agreement between JPMorgan Chase Bank, N.A. and the FDIC relating to JPMorgan Chase Bank, N.A.’s purchase of substantially all of the assets and certain liabilities of Washington Mutual Bank (the “Purchase & Assumption Agreement”). The Firm, Deutsche Bank National Trust Company and the FDIC have signed a settlement agreement to resolve (i) pending litigation brought by Deutsche Bank National Trust Company against the FDIC and JPMorgan Chase Bank, N.A., as defendants, relating to alleged breaches of certain representations and warranties given by certain Washington Mutual affiliates in connection with mortgage securitization agreements and (ii) JPMorgan Chase Bank, N.A.’s outstanding indemnification claims pursuant to the terms of the Purchase & Assumption Agreement. The settlement is subject to certain judicial approval procedures, and both matters are stayed pending approval of the settlement. Wendel. Since 2012, the French criminal authorities have been investigating a series of transactions entered into by senior managers of Wendel Investissement (“Wendel”) during the period from 2004 through 2007 to restructure their shareholdings in Wendel. JPMorgan Chase Bank, N.A., Paris branch provided financing for the transactions to a number of managers of Wendel in 2007. In April 2015, JPMorgan Chase Bank, N.A. was notified that the authorities were formally investigating the role of its Paris branch in the transactions, including alleged criminal tax abuse. JPMorgan Chase is responding to and cooperating with the investigation, and has raised legal challenges which are currently pending before the Court of Cassation in France. In addition, civil proceedings have been commenced against JPMorgan Chase Bank, N.A. by a number of the managers. The claims are separate, involve different allegations and are at various stages of proceedings. * * * In addition to the various legal proceedings discussed above, JPMorgan Chase and its subsidiaries are named as defendants or are otherwise involved in a substantial number of other legal proceedings. The Firm believes it has meritorious defenses to the claims asserted against it in its currently outstanding legal proceedings and it intends to defend itself vigorously in all such matters. Additional legal proceedings may be initiated from time to time in the future. The Firm has established reserves for several hundred of its currently outstanding legal proceedings. In accordance with the provisions of U.S. GAAP for contingencies, the Firm accrues for a litigation-related liability when it is probable that such a liability has been incurred and the amount of the loss can be reasonably estimated. The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downward, as appropriate, based on management’s best judgment after consultation with counsel. The Firm’s legal expense was a benefit of $(71) million and an expense of $1.3 billion during the three months ended September 30, 2016 and 2015, respectively, and a benefit of $(547) million and an expense of $2.3 billion during the nine months ended September 30, 2016 and 2015, respectively. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future. In view of the inherent difficulty of predicting the outcome of legal proceedings, particularly where the claimants seek very large or indeterminate damages, or where the matters present novel legal theories, involve a large number of parties or are in early stages of discovery, the Firm cannot state with confidence what will be the eventual outcomes of the currently pending matters, the timing of their ultimate resolution or the eventual losses, fin |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2016 | |
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 18 , and pages 83–84, and Note 33 of JPMorgan Chase’s 2015 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, 2016 and 2015, on a managed basis. Total net revenue (noninterest revenue and net interest income) for each of the segments is presented on a 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 allows management to assess the comparability of revenue from year-to-year 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. The line of business equity allocations are updated as refinements are implemented. Each business segment is allocated capital by taking into consideration stand-alone peer comparisons, regulatory capital requirements (as estimated under Basel III Advanced Fully Phased-In rules) and economic risk. The amount of capital assigned to each business is referred to as equity. Segment results and reconciliation (a) As of or for the three months ended September 30, Consumer & Corporate & Commercial Banking Asset Management 2016 2015 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 3,868 $ 3,729 $ 6,690 $ 5,748 $ 578 $ 522 $ 2,277 $ 2,261 Net interest income 7,460 7,150 2,765 2,420 1,292 1,122 770 633 Total net revenue 11,328 10,879 9,455 8,168 1,870 1,644 3,047 2,894 Provision for credit losses 1,294 389 67 232 (121 ) 82 32 (17 ) Noninterest expense 6,510 6,237 4,934 6,131 746 719 2,130 2,109 Income before income tax expense 3,524 4,253 4,454 1,805 1,245 843 885 802 Income tax expense 1,320 1,623 1,542 341 467 325 328 327 Net income $ 2,204 $ 2,630 $ 2,912 $ 1,464 $ 778 $ 518 $ 557 $ 475 Average common equity $ 51,000 $ 51,000 $ 64,000 $ 62,000 $ 16,000 $ 14,000 $ 9,000 $ 9,000 Total assets 521,276 484,253 825,933 801,133 212,189 201,157 137,295 131,412 Return on common equity 16% 20% 17% 8% 18% 14% 24% 20% Overhead ratio 57 57 52 75 40 44 70 73 As of or for the three months ended September 30, Corporate Reconciling Items (a) Total 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 197 $ 73 $ (540 ) $ (477 ) $ 13,070 $ 11,856 Net interest income (385 ) (123 ) (299 ) $ (278 ) 11,603 10,924 Total net revenue (188 ) (50 ) (839 ) $ (755 ) 24,673 22,780 Provision for credit losses (1 ) (4 ) — — 1,271 682 Noninterest expense 143 172 — — 14,463 15,368 Income/(loss) before income tax expense/(benefit) (330 ) (218 ) (839 ) (755 ) 8,939 6,730 Income tax expense/(benefit) (165 ) (1,935 ) (839 ) (755 ) 2,653 (74 ) Net income/(loss) $ (165 ) $ 1,717 $ — $ — $ 6,286 $ 6,804 Average common equity $ 86,089 $ 81,023 $ — $ — $ 226,089 $ 217,023 Total assets 824,336 798,680 NA NA 2,521,029 2,416,635 Return on common equity NM NM NM NM 10 % 12 % Overhead ratio NM NM NM NM 59 67 Segment results and reconciliation (a) As of or for the nine months ended September 30, Consumer & Corporate & Commercial Banking Asset Management 2016 2015 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 11,812 $ 11,554 $ 18,699 $ 19,055 $ 1,720 $ 1,767 $ 6,714 $ 7,189 Net interest income 22,084 21,044 8,056 7,418 3,770 3,358 2,244 1,885 Total net revenue 33,896 32,598 26,755 26,473 5,490 5,125 8,958 9,074 Provision for credit losses 3,545 2,021 761 251 158 325 37 (13 ) Noninterest expense 18,602 18,637 14,820 16,925 2,190 2,131 6,303 6,690 Income before income tax expense 11,749 11,940 11,174 9,297 3,142 2,669 2,618 2,397 Income tax expense 4,399 4,558 3,790 2,955 1,172 1,028 953 969 Net income $ 7,350 $ 7,382 $ 7,384 $ 6,342 $ 1,970 $ 1,641 $ 1,665 $ 1,428 Average common equity $ 51,000 $ 51,000 $ 64,000 $ 62,000 $ 16,000 $ 14,000 $ 9,000 $ 9,000 Total assets 521,276 484,253 825,933 801,133 212,189 201,157 137,295 131,412 Return on common equity 18% 18 % 14% 13 % 15% 15 % 24% 20 % Overhead ratio 55 57 55 64 40 42 70 74 As of or for the nine months ended September 30, Corporate Reconciling Items (a) Total 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 637 $ 213 $ (1,620 ) $ (1,405 ) $ 37,962 $ 38,373 Net interest income (927 ) (597 ) (897 ) (823 ) 34,330 32,285 Total net revenue (290 ) (384 ) (2,517 ) (2,228 ) 72,292 70,658 Provision for credit losses (4 ) (8 ) — — 4,497 2,576 Noninterest expense 23 368 — — 41,938 44,751 Income/(loss) before income tax expense/(benefit) (309 ) (744 ) (2,517 ) (2,228 ) 25,857 23,331 Income tax expense/(benefit) 54 (2,959 ) (2,517 ) (2,228 ) 7,851 4,323 Net income/(loss) $ (363 ) $ 2,215 $ — $ — $ 18,006 $ 19,008 Average common equity $ 84,034 $ 78,389 $ — $ — $ 224,034 $ 214,389 Total assets 824,336 798,680 NA NA 2,521,029 2,416,635 Return on common equity NM NM NM NM 10% 11 % Overhead ratio NM NM NM NM 58 63 (a) 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, 2016 | |
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 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. |
Consolidation policy | The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated balance sheets. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a VIE. Effective January 1, 2016, the Firm adopted new accounting guidance related to the consolidation of legal entities such as limited partnerships, limited liability corporations, and securitization structures. The guidance eliminated the deferral issued by the FASB in February 2010 of the accounting guidance for VIEs for certain investment funds, including mutual funds, private equity funds and hedge funds. In addition, the guidance amends the evaluation of fees paid to a decision-maker or a service provider, and exempts certain money market funds from consolidation. Furthermore, asset management funds structured as limited partnerships or certain limited liability companies are now evaluated for consolidation as voting interest entities if the non-managing partners or members have the ability to remove the Firm as the general partner or managing member without cause (i.e., kick-out rights) based on a simple majority vote. Accordingly, the Firm does not consolidate these voting interest entities. However, in the limited cases where the non-managing partners or members do not have substantive kick-out or participating rights, the Firm evaluates the funds as VIEs and consolidates if it is the general partner or managing member and has a potentially significant variable interest. There was no material impact on the Firm’s Consolidated Financial Statements upon adoption of this accounting guidance. |
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 Consolidated balance sheets 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 2015 Annual Report. |
Loan securitizations policy | The Firm has securitized and sold a variety of loans, including residential mortgage, credit card, student and commercial (primarily related to real estate) loans. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 , and December 31, 2015 , 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, 2016 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 22,986 $ — $ — $ 22,986 Securities borrowed — — — — — Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 5 35,080 426 — 35,511 Residential – nonagency — 1,405 106 — 1,511 Commercial – nonagency — 1,188 41 — 1,229 Total mortgage-backed securities 5 37,673 573 — 38,251 U.S. Treasury and government agencies (a) 25,668 6,346 — — 32,014 Obligations of U.S. states and municipalities — 7,722 596 — 8,318 Certificates of deposit, bankers’ acceptances and commercial paper — 1,527 — — 1,527 Non-U.S. government debt securities 31,566 30,186 41 — 61,793 Corporate debt securities — 24,458 500 — 24,958 Loans (b) — 26,039 4,930 — 30,969 Asset-backed securities — 3,390 326 — 3,716 Total debt instruments 57,239 137,341 6,966 — 201,546 Equity securities 91,994 214 272 — 92,480 Physical commodities (c) 4,137 1,857 — — 5,994 Other — 8,504 681 — 9,185 Total debt and equity instruments (d) 153,370 147,916 7,919 — 309,205 Derivative receivables: Interest rate 242 841,029 2,744 (809,416 ) 34,599 Credit — 34,003 1,604 (34,797 ) 810 Foreign exchange 844 165,197 993 (150,196 ) 16,838 Equity — 37,158 742 (31,041 ) 6,859 Commodity 129 18,807 106 (12,569 ) 6,473 Total derivative receivables (e) 1,215 1,096,194 6,189 (1,038,019 ) 65,579 Total trading assets (f) 154,585 1,244,110 14,108 (1,038,019 ) 374,784 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 56,822 — — 56,822 Residential – nonagency — 15,905 1 — 15,906 Commercial – nonagency — 11,524 — — 11,524 Total mortgage-backed securities — 84,251 1 — 84,252 U.S. Treasury and government agencies (a) 21,477 31 — — 21,508 Obligations of U.S. states and municipalities — 31,403 — — 31,403 Certificates of deposit — 108 — — 108 Non-U.S. government debt securities 24,748 12,505 — — 37,253 Corporate debt securities — 5,383 — — 5,383 Asset-backed securities: Collateralized loan obligations — 29,943 778 — 30,721 Other — 7,674 2 — 7,676 Equity securities 2,086 — — — 2,086 Total available-for-sale securities 48,311 171,298 781 — 220,390 Loans — 1,067 844 — 1,911 Mortgage servicing rights — — 4,937 — 4,937 Other assets: Private equity investments (g) 79 — 1,680 — 1,759 All other 4,132 — 685 — 4,817 Total other assets (f) 4,211 — 2,365 — 6,576 Total assets measured at fair value on a recurring basis $ 207,107 $ 1,439,461 $ 23,035 $ (1,038,019 ) $ 631,584 Deposits $ — $ 10,362 $ 2,629 $ — $ 12,991 Federal funds purchased and securities loaned or sold under repurchase agreements — 1,436 — — 1,436 Other borrowed funds — 8,970 1,051 — 10,021 Trading liabilities: Debt and equity instruments (d) 74,168 20,903 55 — 95,126 Derivative payables: Interest rate 367 798,317 1,501 (786,925 ) 13,260 Credit — 33,794 1,511 (34,034 ) 1,271 Foreign exchange 809 162,030 2,581 (149,890 ) 15,530 Equity — 37,116 3,179 (31,772 ) 8,523 Commodity 173 20,922 1,000 (12,536 ) 9,559 Total derivative payables (e) 1,349 1,052,179 9,772 (1,015,157 ) 48,143 Total trading liabilities 75,517 1,073,082 9,827 (1,015,157 ) 143,269 Accounts payable and other liabilities 7,376 — 14 — 7,390 Beneficial interests issued by consolidated VIEs — — 48 — 48 Long-term debt — 24,993 13,729 — 38,722 Total liabilities measured at fair value on a recurring basis $ 82,893 $ 1,118,843 $ 27,298 $ (1,015,157 ) $ 213,877 Fair value hierarchy Derivative netting adjustments December 31, 2015 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 23,141 $ — $ — $ 23,141 Securities borrowed — 395 — — 395 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) 6 31,815 715 — 32,536 Residential – nonagency — 1,299 194 — 1,493 Commercial – nonagency — 1,080 115 — 1,195 Total mortgage-backed securities 6 34,194 1,024 — 35,224 U.S. Treasury and government agencies (a) 12,036 6,985 — — 19,021 Obligations of U.S. states and municipalities — 6,986 651 — 7,637 Certificates of deposit, bankers’ acceptances and commercial paper — 1,042 — — 1,042 Non-U.S. government debt securities 27,974 25,064 74 — 53,112 Corporate debt securities — 22,807 736 — 23,543 Loans (b) — 22,211 6,604 — 28,815 Asset-backed securities — 2,392 1,832 — 4,224 Total debt instruments 40,016 121,681 10,921 — 172,618 Equity securities 94,059 606 265 — 94,930 Physical commodities (c) 3,593 1,064 — — 4,657 Other — 11,152 744 — 11,896 Total debt and equity instruments (d) 137,668 134,503 11,930 — 284,101 Derivative receivables: Interest rate 354 666,491 2,766 (643,248 ) 26,363 Credit — 48,850 2,618 (50,045 ) 1,423 Foreign exchange 734 177,525 1,616 (162,698 ) 17,177 Equity — 35,150 709 (30,330 ) 5,529 Commodity 108 24,720 237 (15,880 ) 9,185 Total derivative receivables (e) 1,196 952,736 7,946 (902,201 ) 59,677 Total trading assets (f) 138,864 1,087,239 19,876 (902,201 ) 343,778 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 55,066 — — 55,066 Residential – nonagency — 27,618 1 — 27,619 Commercial – nonagency — 22,897 — — 22,897 Total mortgage-backed securities — 105,581 1 — 105,582 U.S. Treasury and government agencies (a) 10,998 38 — — 11,036 Obligations of U.S. states and municipalities — 33,550 — — 33,550 Certificates of deposit — 283 — — 283 Non-U.S. government debt securities 23,199 13,477 — — 36,676 Corporate debt securities — 12,436 — — 12,436 Asset-backed securities: Collateralized loan obligations — 30,248 759 — 31,007 Other — 9,033 64 — 9,097 Equity securities 2,087 — — — 2,087 Total available-for-sale securities 36,284 204,646 824 — 241,754 Loans — 1,343 1,518 — 2,861 Mortgage servicing rights — — 6,608 — 6,608 Other assets: — Private equity investments (g) 102 101 1,657 — 1,860 All other 3,815 28 744 — 4,587 Total other assets (f) 3,917 129 2,401 — 6,447 Total assets measured at fair value on a recurring basis $ 179,065 $ 1,316,893 $ 31,227 $ (902,201 ) $ 624,984 Deposits $ — $ 9,566 $ 2,950 $ — $ 12,516 Federal funds purchased and securities loaned or sold under repurchase agreements — 3,526 — — 3,526 Other borrowed funds — 9,272 639 — 9,911 Trading liabilities: Debt and equity instruments (d) 53,845 20,199 63 — 74,107 Derivative payables: Interest rate 216 633,060 1,890 (624,945 ) 10,221 Credit — 48,460 2,069 (48,988 ) 1,541 Foreign exchange 669 187,890 2,341 (171,131 ) 19,769 Equity — 36,440 2,223 (29,480 ) 9,183 Commodity 52 26,430 1,172 (15,578 ) 12,076 Total derivative payables (e) 937 932,280 9,695 (890,122 ) 52,790 Total trading liabilities 54,782 952,479 9,758 (890,122 ) 126,897 Accounts payable and other liabilities 4,382 — 19 — 4,401 Beneficial interests issued by consolidated VIEs — 238 549 — 787 Long-term debt — 21,452 11,613 — 33,065 Total liabilities measured at fair value on a recurring basis $ 59,164 $ 996,533 $ 25,528 $ (890,122 ) $ 191,103 (a) At September 30, 2016 , and December 31, 2015, included total U.S. government-sponsored enterprise obligations of $65.0 billion and $67.0 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2016 , and December 31, 2015, included within trading loans were $15.3 billion and $11.8 billion , respectively, of residential first-lien mortgages, and $4.0 billion and $4.3 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 $10.1 billion and $5.3 billion , respectively, and reverse mortgages of $2.2 billion and $2.5 billion , respectively. (c) Physical commodities inventories are generally accounted for at the lower of cost or market. “Market” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, market approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when market is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, see Note 5 . To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. (d) Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). (e) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. However, if the Firm were to net such balances within level 3, the reduction in the level 3 derivative receivables and payables balances would be $1.9 billion and $546 million at September 30, 2016 , and December 31, 2015, respectively; this is exclusive of the netting benefit associated with cash collateral, which would further reduce the level 3 balances. (f) 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, 2016, and December 31, 2015, the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $1.0 billion and $1.2 billion , respectively. Included in the balances at September 30, 2016, and December 31, 2015, were trading assets of $53 million and $61 million , respectively, and other assets of $985 million and $1.2 billion , respectively. (g) Private equity instruments represent investments within Corporate. The portion of the private equity investment portfolio carried at fair value on a recurring basis had a cost basis of $2.8 billion and $3.5 billion at September 30, 2016 , and December 31, 2015, respectively. |
Fair value inputs, assets and liabilities, quantitative information | Level 3 inputs (a) September 30, 2016 (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 $ 3,103 Discounted cash flows Yield 4% – 13% 5% Prepayment speed 0% – 20% 9% Conditional default rate 0% – 25% 5% Loss severity 0% – 90% 43% Commercial mortgage-backed securities and loans (b) 2,205 2,197 Discounted cash flows Yield 1% – 25% 6% Conditional default rate 0% – 100% 67% Loss severity 40% 40% Corporate debt securities, obligations of U.S. states and municipalities, and other (c) 860 Discounted cash flows Credit spread 40 bps – 375 bps 140 bps Yield 2% – 18% 9% 3,117 Market comparables Price $ — – $340 $ 91 Net interest rate derivatives 1,243 Option pricing Interest rate correlation (34)% – 97% Interest rate spread volatility 3% – 38% Net credit derivatives (b)(c) 93 Discounted cash flows Credit correlation 25% – 85% Net foreign exchange derivatives (1,588 ) Option pricing Foreign exchange correlation (20)% – 70% Net equity derivatives (2,437 ) Option pricing Equity volatility 20% – 60% Net commodity derivatives (894 ) Discounted cash flows Forward commodity price $ 38 – $54 per barrel Collateralized loan obligations 778 Discounted cash flows Credit spread 370 bps – 543 bps 404 bps Prepayment speed 20% 20% Conditional default rate 2% 2% Loss severity 30% 30% 165 Market comparables Price $ — – $121 $ 69 MSRs 4,937 Discounted cash flows Refer to Note 16 Private equity investments 1,680 Market comparables EBITDA multiple 6.4 x – 11 x 7.8 x Long-term debt, other borrowed funds, and deposits (d) 16,999 Option pricing Interest rate correlation (34)% – 97% Interest rate spread volatility 3% – 38% Foreign exchange correlation (20)% – 70% Equity correlation (50)% – 75% 410 Discounted cash flows Credit correlation 25% – 85% Beneficial interests issued by consolidated VIEs (e) 48 Discounted cash flows Yield 8% – 12% 10% Prepayment speed 0% – 3% 1% Conditional default rate 3% – 16% 12% Loss severity 85% – 140% 114% (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 $293 million of credit derivative receivables and $258 million of credit derivative payables with underlying commercial mortgage risk have been included in the inputs and ranges provided for commercial MBS and loans. (c) The unobservable inputs and associated input ranges for approximately $384 million of credit derivative receivables and $356 million of credit derivative payables with underlying 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 MBS. |
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, 2016 and 2015. 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 Fair value at Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies 473 (4 ) 4 (22 ) (31 ) 6 426 — Residential – nonagency 200 (3 ) 43 (66 ) (5 ) (63 ) 106 1 Commercial – nonagency 30 — — (1 ) (1 ) 13 41 — Total mortgage-backed securities 703 (7 ) 47 (89 ) (37 ) (44 ) 573 1 Obligations of U.S. states and municipalities 551 2 68 (25 ) — — 596 2 Non-U.S. government debt securities 37 (1 ) 54 (35 ) (2 ) (12 ) 41 (1 ) Corporate debt securities 516 17 63 (43 ) (30 ) (23 ) 500 (1 ) Loans 6,016 23 498 (1,111 ) (297 ) (199 ) 4,930 18 Asset-backed securities 959 18 133 (173 ) (40 ) (571 ) 326 13 Total debt instruments 8,782 52 863 (1,476 ) (406 ) (849 ) 6,966 32 Equity securities 246 21 42 (35 ) (2 ) — 272 18 Other 670 45 276 — (305 ) (5 ) 681 30 Total trading assets – debt and equity instruments 9,698 118 (c) 1,181 (1,511 ) (713 ) (854 ) 7,919 80 (c) Net derivative receivables: (a) Interest rate 1,107 247 36 (7 ) (319 ) 179 1,243 79 Credit 279 (231 ) 8 — 48 (11 ) 93 (237 ) Foreign exchange (1,205 ) 126 — (5 ) (509 ) 5 (1,588 ) (103 ) Equity (1,892 ) (251 ) 106 (249 ) 158 (309 ) (2,437 ) (67 ) Commodity (719 ) (169 ) — (9 ) 10 (7 ) (894 ) 1 Total net derivative receivables (2,430 ) (278 ) (c) 150 (270 ) (612 ) (143 ) (3,583 ) (327 ) (c) Available-for-sale securities: Asset-backed securities 809 18 — — (5 ) (42 ) 780 18 Other 1 — — — — — 1 — Total available-for-sale securities 810 18 (d) — — (5 ) (42 ) 781 18 (d) Loans 785 7 (c) 75 — (23 ) — 844 7 (c) Mortgage servicing rights 5,072 (87 ) (e) 190 (5 ) (233 ) — 4,937 (87 ) (e) Other assets: Private equity investments 1,656 28 (c) 6 — (10 ) — 1,680 17 (c) All other 713 (4 ) (f) — — (24 ) — 685 (2 ) (f) Fair value measurements using significant unobservable inputs Three months ended Fair value at Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,409 $ 1 (c) $ — $ — $ 602 $ (191 ) $ (192 ) $ 2,629 $ (10 ) (c) Other borrowed funds 907 (67 ) (c) — — 584 (420 ) 47 1,051 (48 ) (c) Trading liabilities – debt and equity instruments 57 (4 ) (c) (8 ) 5 — (6 ) 11 55 — (c) Accounts payable and other liabilities 15 — — — — (1 ) — 14 — Beneficial interests issued by consolidated VIEs 584 (11 ) (c) — — — (525 ) — 48 7 (c) Long-term debt 13,147 324 (c) — — 1,877 (1,432 ) (187 ) 13,729 268 (c) Fair value measurements using significant unobservable inputs Three months ended Fair value at Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) 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 (j) 1,987 (32 ) (c) 70 (267 ) (58 ) — 1,700 (32 ) (c) All other (j) 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 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 3,528 $ 42 (c) $ — $ — $ 327 $ (280 ) $ (240 ) $ 3,377 $ 54 (c) Other borrowed funds (j) 1,261 (402 ) (c) — — 575 (403 ) (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 (j) 1,140 (35 ) (c) — — — (87 ) — 1,018 (36 ) (c) Long-term debt 12,589 (420 ) (c) (58 ) — 2,104 (1,048 ) (2,311 ) 10,856 (392 ) (c) Fair value measurements using significant unobservable inputs Nine months ended Fair value at January 1, 2016 Total realized/unrealized gains/(losses) Transfers into and/or out of level 3 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 715 $ (78 ) $ 133 $ (230 ) $ (89 ) $ (25 ) $ 426 $ (78 ) Residential – nonagency 194 (4 ) 220 (250 ) (16 ) (38 ) 106 (3 ) Commercial – nonagency 115 (6 ) 65 (29 ) (1 ) (103 ) 41 2 Total mortgage-backed securities 1,024 (88 ) 418 (509 ) (106 ) (166 ) 573 (79 ) Obligations of U.S. states and municipalities 651 11 104 (132 ) (38 ) — 596 11 Non-U.S. government debt securities 74 1 83 (86 ) (2 ) (29 ) 41 (2 ) Corporate debt securities 736 (15 ) 222 (187 ) (155 ) (101 ) 500 (28 ) Loans 6,604 (165 ) 1,363 (2,255 ) (939 ) 322 4,930 65 Asset-backed securities 1,832 35 565 (643 ) (957 ) (506 ) 326 (7 ) Total debt instruments 10,921 (221 ) 2,755 (3,812 ) (2,197 ) (480 ) 6,966 (40 ) Equity securities 265 18 75 (68 ) (24 ) 6 272 32 Other 744 (1 ) 629 (287 ) (340 ) (64 ) 681 73 Total trading assets – debt and equity instruments 11,930 (204 ) (c) 3,459 (4,167 ) (2,561 ) (538 ) 7,919 65 (c) Net derivative receivables: (a) Interest rate 876 787 142 (27 ) (761 ) 226 1,243 (167 ) Credit 549 (679 ) 8 (2 ) 165 52 93 (662 ) Foreign exchange (725 ) (68 ) 58 (123 ) (709 ) (21 ) (1,588 ) (291 ) Equity (1,514 ) (615 ) 248 (571 ) 231 (216 ) (2,437 ) (599 ) Commodity (935 ) 58 — 9 (30 ) 4 (894 ) (7 ) Total net derivative receivables (1,749 ) (517 ) (c) 456 (714 ) (1,104 ) 45 (3,583 ) (1,726 ) (c) Available-for-sale securities: Asset-backed securities 823 17 — — (18 ) (42 ) 780 17 Other 1 — — — — — 1 — Total available-for-sale securities 824 17 (d) — — (18 ) (42 ) 781 17 (d) Loans 1,518 (7 ) (c) 259 — (613 ) (313 ) 844 38 (c) Mortgage servicing rights 6,608 (1,296 ) (e) 410 (72 ) (713 ) — 4,937 (1,296 ) (e) Other assets: Private equity investments 1,657 98 (c) 447 (427 ) (95 ) — 1,680 25 (c) All other 744 72 (f) 30 (11 ) (150 ) — 685 69 (f) Fair value measurements using significant unobservable inputs Nine months ended Fair value at January 1, 2016 Total realized/unrealized (gains)/losses Transfers into and/or out of level 3 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,950 $ 76 (c) — $ — $ 1,085 $ (868 ) $ (614 ) $ 2,629 $ (24 ) (c) Other borrowed funds 639 (223 ) (c) — 1,356 (789 ) 68 1,051 (113 ) (c) Trading liabilities – debt and equity instruments 63 (11 ) (c) (8 ) 23 — (21 ) 9 55 — Accounts payable and other liabilities 19 — — — — (5 ) — 14 — Beneficial interests issued by consolidated VIEs 549 (33 ) (c) — — 143 (611 ) — 48 — (c) Long-term debt 11,613 716 (c) — — 6,752 (4,327 ) (1,025 ) 13,729 1,678 (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 (i) Fair value at Change in unrealized gains/(losses) related Purchases (g) Sales Settlements (h) 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 (j) 2,225 15 (c) 77 (294 ) (174 ) (149 ) 1,700 — (c) All other (j) 959 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 (i) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (h) Liabilities: (b) Deposits $ 2,859 $ (22 ) (c) $ — $ — $ 1,775 $ (425 ) $ (810 ) $ 3,377 $ 49 (c) Other borrowed funds (j) 1,453 (525 ) (c) — — 2,897 (2,545 ) (512 ) 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 — — — — (5 ) — 21 — Beneficial interests issued by consolidated VIEs (j) 1,146 (52 ) (c) — — 286 (362 ) — 1,018 (49 ) (c) Long-term debt (j) 11,877 (617 ) (c) (58 ) — 7,487 (5,205 ) (2,628 ) 10,856 (583 ) (c) (a) All level 3 derivatives are presented on a net basis, irrespective of the underlying counterparty. (b) Level 3 liabilities as a percentage of total Firm liabilities accounted for at fair value (including liabilities measured at fair value on a nonrecurring basis) were 13% at September 30, 2016 and 13% at December 31, 2015. (c) Predominantly reported in principal transactions revenue, except for changes in fair value for CCB mortgage loans and lending-related commitments originated with the intent to sell, and mortgage loan purchase commitments, which are reported in mortgage fees and related income. (d) Realized gains/(losses) on AFS securities, as well as other-than-temporary impairment ("OTTI") 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 for the three months ended September 30, 2016 and 2015, respectively, and zero and $(7) million for the nine months ended September 30, 2016 and 2015, respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were $18 million and $(27) million for the three months ended September 30, 2016 and 2015, respectively, and $16 million and $(27) million for the nine months ended September 30, 2016 and 2015, respectively. (e) Changes in fair value for CCB MSRs are reported in mortgage fees and related income. (f) Predominantly reported in other income. (g) Loan originations are included in purchases. (h) Includes financial assets and liabilities that have matured, been partially or fully repaid, impacts of modifications, and deconsolidation associated with beneficial interests in VIEs. (i) 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. (j) Certain prior period amounts have been revised to conform with the current period presentation. The revision had no impact on the Firm’s Consolidated balance sheets or its results of operations. |
Impact of credit adjustments on earnings | The DVA and FVA reported below include the impact of the Firm’s own credit quality on the inception value of liabilities as well as the impact of changes in the Firm’s own credit quality over time. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Credit adjustments: Derivatives CVA $ 97 $ (127 ) $ (659 ) $ 395 Derivatives DVA and FVA (154 ) (121 ) (277 ) (58 ) |
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, 2016 , and December 31, 2015 , of financial assets and liabilities, excluding financial instruments which are carried at fair value on a recurring basis, and 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 2015 Annual Report. September 30, 2016 December 31, 2015 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 $ 21.4 $ 21.4 $ — $ — $ 21.4 $ 20.5 $ 20.5 $ — $ — $ 20.5 Deposits with banks 396.2 391.7 4.5 — 396.2 340.0 335.9 4.1 — 340.0 Accrued interest and accounts receivable 64.3 — 64.2 0.1 64.3 46.6 — 46.4 0.2 46.6 Federal funds sold and securities purchased under resale agreements 209.6 — 209.1 0.5 209.6 189.5 — 189.5 — 189.5 Securities borrowed 109.2 — 109.2 — 109.2 98.3 — 98.3 — 98.3 Securities, held-to-maturity (a) 52.0 — 54.7 — 54.7 49.1 — 50.6 — 50.6 Loans, net of allowance for loan losses (b) 872.0 — 25.1 851.9 877.0 820.8 — 25.4 802.7 828.1 Other 67.5 0.2 57.1 14.9 72.2 66.0 0.1 56.3 14.3 70.7 Financial liabilities Deposits $ 1,363.1 $ — $ 1,363.2 $ — $ 1,363.2 $ 1,267.2 $ — $ 1,266.1 $ 1.2 $ 1,267.3 Federal funds purchased and securities loaned or sold under repurchase agreements 167.1 — 167.1 — 167.1 149.2 — 149.2 — 149.2 Commercial paper 12.3 — 12.3 — 12.3 15.6 — 15.6 — 15.6 Other borrowed funds 14.5 — 14.5 — 14.5 11.2 — 11.2 — 11.2 Accounts payable and other liabilities 156.3 — 153.2 2.9 156.1 144.6 — 141.7 2.8 144.5 Beneficial interests issued by consolidated VIEs (c) 42.2 — 42.3 — 42.3 41.1 — 40.2 0.9 41.1 Long-term debt and junior subordinated deferrable interest debentures (d) 270.7 — 271.7 2.0 273.7 255.6 — 257.4 4.3 261.7 (a) Carrying value reflects 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 185–188 of JPMorgan Chase’s 2015 Annual Report. (c) Carrying value reflects unamortized issuance costs. (d) Carrying value reflects unamortized premiums and discounts, issuance costs, 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 of the allowance and the estimated fair value of the Firm’s wholesale lending-related commitments were as follows for the periods indicated. September 30, 2016 December 31, 2015 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 $ 1.1 $ — $ — $ 2.4 $ 2.4 $ 0.8 $ — $ — $ 3.0 $ 3.0 (a) 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, 2016 | |
Fair Value Disclosures [Abstract] | |
Changes in fair value under the fair value option election | The following tables presents the changes in fair value included in the Consolidated statements of income for the three and nine months ended September 30, 2016 and 2015, 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, 2016 2015 (in millions) Principal transactions All other income Total changes in fair Principal transactions All other income Total changes in fair value recorded Federal funds sold and securities purchased under resale agreements (a) $ (54 ) $ — $ (54 ) $ 63 $ — $ 63 Securities borrowed (a) — — — (1 ) — (1 ) Trading assets: Debt and equity instruments, excluding loans 256 — 256 (144 ) — (144 ) Loans reported as trading assets (b) : Changes in instrument-specific credit risk 286 10 (e) 296 12 5 (e) 17 Other changes in fair value 2 452 (e) 454 94 277 (e) 371 Loans (b) : Changes in instrument-specific credit risk — — — 31 — 31 Other changes in fair value 1 — 1 2 — 2 Other assets 2 (3 ) (f) (1 ) 54 — 54 Deposits (c) 38 — 38 (112 ) — (112 ) Federal funds purchased and securities loaned or sold under repurchase agreements (a) 4 — 4 (14 ) — (14 ) Other borrowed funds (c) (291 ) — (291 ) 2,015 — 2,015 Trading liabilities 3 — 3 (6 ) — (6 ) Beneficial interests issued by consolidated VIEs — — — 29 — 29 Long-term debt: DVA on fair value option elected liabilities (c) — — — 299 — 299 Other changes in fair value (d) (619 ) — (619 ) 1,116 — 1,116 Nine months ended September 30, 2016 2015 (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 (a) $ 14 $ — $ 14 $ 37 $ — $ 37 Securities borrowed (a) 1 — 1 (5 ) — (5 ) Trading assets: Debt and equity instruments, excluding loans 143 — 143 375 1 376 Loans reported as trading assets (b) : Changes in instrument-specific credit risk 384 24 (e) 408 223 18 (e) 241 Other changes in fair value 188 975 (e) 1,163 206 657 (e) 863 Loans (b) : Changes in instrument-specific credit risk 13 — 13 32 — 32 Other changes in fair value 5 — 5 2 — 2 Other assets 16 79 (f) 95 116 9 (f) 125 Deposits (c) (531 ) — (531 ) (75 ) — (75 ) Federal funds purchased and securities loaned or sold under repurchase agreements (a) (16 ) — (16 ) (5 ) — (5 ) Other borrowed funds (c) (292 ) — (292 ) 2,121 — 2,121 Trading liabilities 5 — 5 (20 ) — (20 ) Beneficial interests issued by consolidated VIEs 23 — 23 73 — 73 Long-term debt: DVA on fair value option elected liabilities (c) — — — 624 — 624 Other changes in fair value (d) (1,537 ) — (1,537 ) 1,466 — 1,466 (a) Resale and repurchase agreements, securities borrowed agreements and securities lending agreements: Generally, for these types of agreements, there is a requirement that collateral be maintained with a market value equal to or in excess of the principal amount loaned; as a result, there would be no adjustment or an immaterial adjustment for instrument-specific credit risk related to these agreements. (b) Loans and lending-related commitments: For floating-rate instruments, all changes in value are attributed to instrument-specific credit risk. For fixed-rate instruments, an allocation of the changes in value for the period is made between those changes in value that are interest rate-related and changes in value that are credit-related. Allocations are generally based on an analysis of borrower-specific credit spread and recovery information, where available, or benchmarking to similar entities or industries. (c) Effective January 1, 2016, unrealized gains/(losses) due to instrument-specific credit risk (DVA) for liabilities for which the fair value option has been elected is recorded in OCI, while realized gains (losses) are recorded in principal transactions revenue. DVA for the three and nine months ended September 30, 2015 was included in principal transactions revenue, and include the impact of the Firm’s own credit quality on the inception value of liabilities as well as the impact of changes in the Firm’s own credit quality subsequent to issuance. See Notes 3 and 19 for further information. (d) Long-term debt measured at fair value predominantly relate to structured notes 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. (e) Reported in mortgage fees and related income. (f) 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, 2016 , and December 31, 2015 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. September 30, 2016 December 31, 2015 (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 $ 3,157 $ 719 $ (2,438 ) $ 3,484 $ 631 $ (2,853 ) Loans 7 7 — 7 7 — Subtotal 3,164 726 (2,438 ) 3,491 638 (2,853 ) All other performing loans Loans reported as trading assets 32,158 30,250 (1,908 ) 30,780 28,184 (2,596 ) Loans 1,875 1,867 (8 ) 2,771 2,752 (19 ) Total loans $ 37,197 $ 32,843 $ (4,354 ) $ 37,042 $ 31,574 $ (5,468 ) Long-term debt Principal-protected debt $ 21,307 (c) $ 19,471 $ (1,836 ) $ 17,910 (c) $ 16,611 $ (1,299 ) Nonprincipal-protected debt (b) NA 19,251 NA NA 16,454 NA Total long-term debt NA $ 38,722 NA NA $ 33,065 NA Long-term beneficial interests Nonprincipal-protected debt NA $ 48 NA NA $ 787 NA Total long-term beneficial interests NA $ 48 NA NA $ 787 NA (a) There were no performing loans that were ninety days or more past due as of September 30, 2016 , and December 31, 2015 , 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 type. September 30, 2016 December 31, 2015 (in millions) Long-term debt Other borrowed funds Deposits Total Long-term debt Other borrowed funds Deposits Total Risk exposure Interest rate $ 16,393 $ 322 $ 3,536 $ 20,251 $ 12,531 $ 58 $ 3,340 $ 15,929 Credit 3,509 666 — 4,175 3,195 547 — 3,742 Foreign exchange 2,571 150 6 2,727 1,765 77 11 1,853 Equity 15,116 8,527 5,459 29,102 14,293 8,447 4,993 27,733 Commodity 607 55 1,572 2,234 640 50 1,981 2,671 Total structured notes $ 38,196 $ 9,720 $ 10,573 $ 58,489 $ 32,424 $ 9,179 $ 10,325 $ 51,928 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 112 ◦ Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 113 ◦ Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 112 ◦ Foreign exchange Hedge forecasted revenue and expense Cash flow hedge Corporate 113 ◦ Foreign exchange Hedge the value of the Firm’s investments in non-U.S. dollar functional currency entities Net investment hedge Corporate 114 ◦ Commodity Hedge commodity inventory Fair value hedge CIB 112 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: ◦ Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 114 ◦ Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 114 ◦ Commodity Manage the risk of certain commodities-related contracts and investments Specified risk management CIB 114 ◦ Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 114 Market-making derivatives and other activities: ◦ Various Market-making and related risk management Market-making and other CIB 114 ◦ Various Other derivatives Market-making and other CIB, Corporate 114 |
Notional amount of derivative contracts | The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2016 , and December 31, 2015 . Notional amounts (b) (in billions) September 30, 2016 December 31, 2015 Interest rate contracts Swaps $ 23,419 $ 24,162 Futures and forwards 6,073 5,167 Written options 3,091 3,506 Purchased options 3,544 3,896 Total interest rate contracts 36,127 36,731 Credit derivatives (a) 2,545 2,900 Foreign exchange contracts Cross-currency swaps 3,485 3,199 Spot, futures and forwards 6,087 5,028 Written options 756 690 Purchased options 751 706 Total foreign exchange contracts 11,079 9,623 Equity contracts Swaps 274 232 Futures and forwards 65 43 Written options 491 395 Purchased options 430 326 Total equity contracts 1,260 996 Commodity contracts Swaps 92 83 Spot, futures and forwards 149 99 Written options 103 115 Purchased options 108 112 Total commodity contracts 452 409 Total derivative notional amounts $ 51,463 $ 50,659 (a) For more information on volumes and types of credit derivative contracts, see the Credit derivatives discussion on page 115 . (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, 2016 , and December 31, 2015 , 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, 2016 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 $ 836,839 $ 7,174 $ 844,013 $ 34,599 $ 796,860 $ 3,326 $ 800,186 $ 13,260 Credit 35,607 — 35,607 810 35,305 — 35,305 1,271 Foreign exchange 166,547 488 167,035 16,838 164,385 1,035 165,420 15,530 Equity 37,901 — 37,901 6,859 40,294 — 40,294 8,523 Commodity 18,909 133 19,042 6,473 21,975 120 22,095 9,559 Total fair value of trading assets and liabilities $ 1,095,803 $ 7,795 $ 1,103,598 $ 65,579 $ 1,058,819 $ 4,481 $ 1,063,300 $ 48,143 Gross derivative receivables Gross derivative payables December 31, 2015 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 $ 665,531 $ 4,080 $ 669,611 $ 26,363 $ 632,928 $ 2,238 $ 635,166 $ 10,221 Credit 51,468 — 51,468 1,423 50,529 — 50,529 1,541 Foreign exchange 179,072 803 179,875 17,177 189,397 1,503 190,900 19,769 Equity 35,859 — 35,859 5,529 38,663 — 38,663 9,183 Commodity 23,713 1,352 25,065 9,185 27,653 1 27,654 12,076 Total fair value of trading assets and liabilities $ 955,643 $ 6,235 $ 961,878 $ 59,677 $ 939,170 $ 3,742 $ 942,912 $ 52,790 (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 | September 30, 2016 December 31, 2015 (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 $ 489,501 $ (461,990 ) $ 27,511 $ 417,386 $ (396,506 ) $ 20,880 OTC–cleared 347,445 (347,371 ) 74 246,750 (246,742 ) 8 Exchange-traded (a) 184 (55 ) 129 — — — Total interest rate contracts 837,130 (809,416 ) 27,714 664,136 (643,248 ) 20,888 Credit contracts: OTC 28,304 (27,993 ) 311 44,082 (43,182 ) 900 OTC–cleared 6,822 (6,804 ) 18 6,866 (6,863 ) 3 Total credit contracts 35,126 (34,797 ) 329 50,948 (50,045 ) 903 Foreign exchange contracts: OTC 162,056 (149,376 ) 12,680 175,060 (162,377 ) 12,683 OTC–cleared 1,033 (801 ) 232 323 (321 ) 2 Exchange-traded (a) 95 (19 ) 76 — — — Total foreign exchange contracts 163,184 (150,196 ) 12,988 175,383 (162,698 ) 12,685 Equity contracts: OTC 21,758 (20,056 ) 1,702 20,690 (20,439 ) 251 OTC–cleared — — — — — — Exchange-traded (a) 14,611 (10,985 ) 3,626 12,285 (9,891 ) 2,394 Total equity contracts 36,369 (31,041 ) 5,328 32,975 (30,330 ) 2,645 Commodity contracts: OTC 10,939 (5,168 ) 5,771 15,001 (6,772 ) 8,229 OTC–cleared — — — — — — Exchange-traded (a) 7,686 (7,401 ) 285 9,199 (9,108 ) 91 Total commodity contracts 18,625 (12,569 ) 6,056 24,200 (15,880 ) 8,320 Derivative receivables with appropriate legal opinion 1,090,434 (1,038,019 ) (b) 52,415 947,642 (902,201 ) (b) 45,441 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 13,164 13,164 14,236 14,236 Total derivative receivables recognized on the Consolidated balance sheets $ 1,103,598 $ 65,579 $ 961,878 $ 59,677 Collateral not nettable on the Consolidated balance sheets (c)(d) (16,178 ) (13,543 ) Net amounts $ 49,401 $ 46,134 |
Offsetting liabilities | September 30, 2016 December 31, 2015 (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 $ 456,267 $ (444,852 ) $ 11,415 $ 393,709 $ (384,576 ) $ 9,133 OTC–cleared 342,194 (342,018 ) 176 240,398 (240,369 ) 29 Exchange-traded (a) 82 (55 ) 27 — — — Total interest rate contracts 798,543 (786,925 ) 11,618 634,107 (624,945 ) 9,162 Credit contracts: OTC 28,174 (27,400 ) 774 44,379 (43,019 ) 1,360 OTC–cleared 6,634 (6,634 ) — 5,969 (5,969 ) — Total credit contracts 34,808 (34,034 ) 774 50,348 (48,988 ) 1,360 Foreign exchange contracts: OTC 159,983 (149,151 ) 10,832 185,178 (170,830 ) 14,348 OTC–cleared 723 (723 ) — 301 (301 ) — Exchange-traded (a) 312 (16 ) 296 — — — Total foreign exchange contracts 161,018 (149,890 ) 11,128 185,479 (171,131 ) 14,348 Equity contracts: OTC 25,339 (20,858 ) 4,481 23,458 (19,589 ) 3,869 OTC–cleared — — — — — — Exchange-traded (a) 11,625 (10,914 ) 711 10,998 (9,891 ) 1,107 Total equity contracts 36,964 (31,772 ) 5,192 34,456 (29,480 ) 4,976 Commodity contracts: OTC 13,015 (5,061 ) 7,954 16,953 (6,256 ) 10,697 OTC–cleared — — — — — — Exchange-traded (a) 7,704 (7,475 ) 229 9,374 (9,322 ) 52 Total commodity contracts 20,719 (12,536 ) 8,183 26,327 (15,578 ) 10,749 Derivative payables with appropriate legal opinions 1,052,052 (1,015,157 ) (b) 36,895 930,717 (890,122 ) (b) 40,595 Derivative payables where an appropriate legal opinion has not been either sought or obtained 11,248 11,248 12,195 12,195 Total derivative payables recognized on the Consolidated balance sheets $ 1,063,300 $ 48,143 $ 942,912 $ 52,790 Collateral not nettable on the Consolidated balance sheets (c)(d)(e) (10,121 ) (7,957 ) Net amounts $ 38,022 $ 44,833 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Net derivatives receivable included cash collateral netted of $88.5 billion and $73.7 billion at September 30, 2016 , and December 31, 2015 , respectively. Net derivatives payable included cash collateral netted of $65.6 billion and $61.6 billion related to OTC and OTC-cleared derivatives at September 30, 2016 , and December 31, 2015 , respectively. (c) Excludes all collateral related to derivative instruments where an appropriate legal opinion has not been either sought or obtained. (d) Represents liquid security collateral as well as cash collateral held at third party custodians related to derivative instruments where an appropriate legal opinion has been obtained. 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. (e) Derivative payables collateral relates only to OTC and OTC-cleared derivative instruments. Amounts exclude collateral transferred related to exchange-traded derivative instruments. |
Current credit risk of derivative receivables and liquidity risk of derivative payables | The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at September 30, 2016 , and December 31, 2015 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2016 December 31, 2015 Aggregate fair value of net derivative payables $ 23,174 $ 22,328 Collateral posted 20,327 18,942 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, 2016 , and December 31, 2015 , 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), nor 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, 2016 December 31, 2015 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 419 $ 2,381 $ 807 $ 3,028 Amount required to settle contracts with termination triggers upon downgrade (b) 303 809 271 1,093 (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 pre-tax gains/(losses) recorded on such derivatives and the related hedged items for the three and nine months ended September 30, 2016 and 2015 , respectively. Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2016 Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ (232 ) $ 430 $ 198 $ 7 $ 191 Foreign exchange (b) (143 ) 194 51 — 51 Commodity (c) (203 ) 229 26 1 25 Total $ (578 ) $ 853 $ 275 $ 8 $ 267 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2015 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: Nine months ended September 30, 2016 Derivatives Hedged items Total income statement impact Hedge ineffectiveness (d) Excluded components (e) Contract type Interest rate (a) $ 2,049 $ (1,478 ) $ 571 $ 36 $ 535 Foreign exchange (b) 46 104 150 — 150 Commodity (c) (276 ) 307 31 (11 ) 42 Total $ 1,819 $ (1,067 ) $ 752 $ 25 $ 727 Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2015 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 (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 primarily 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 pre-tax gains/(losses) recorded on such derivatives, for the three and nine months ended September 30, 2016 and 2015 , respectively. The Firm includes the gain/(loss) on the hedging derivative and the change in cash flows on the hedged item in the same line item in the Consolidated statements of income . Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2016 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) $ (18 ) $ — $ (18 ) $ 22 $ 40 Foreign exchange (b) (104 ) — (104 ) (86 ) 18 Total $ (122 ) $ — $ (122 ) $ (64 ) $ 58 Gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2015 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) $ 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) Nine months ended September 30, 2016 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) $ (58 ) $ — $ (58 ) $ (78 ) $ (20 ) Foreign exchange (b) (167 ) — (167 ) (340 ) (173 ) Total $ (225 ) $ — $ (225 ) $ (418 ) $ (193 ) Gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2015 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) $ (113 ) $ — $ (113 ) $ (90 ) $ 23 Foreign exchange (b) (74 ) — (74 ) (14 ) 60 Total $ (187 ) $ — $ (187 ) $ (104 ) $ 83 (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 the 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 pre-tax gains/(losses) recorded on such instruments for the three and nine months ended September 30, 2016 and 2015 . Gains/(losses) recorded in income and other comprehensive income/(loss) 2016 2015 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 $ (69 ) $ (30 ) $ (103 ) $ 908 Gains/(losses) recorded in income and other comprehensive income/(loss) 2016 2015 Nine months ended September 30, (in millions) Excluded components recorded directly (a) Effective portion recorded in OCI Excluded components (a) Effective portion recorded in OCI Foreign exchange derivatives $ (219 ) $ (603 ) $ (292 ) $ 1,651 (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, 2016 and 2015 . |
Risk management derivatives gains and losses (not designated as hedging instruments) | The following table presents pre-tax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, foreign currency-denominated assets and liabilities, and commodities-related contracts and investments. Derivatives gains/(losses) recorded in income Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Contract type Interest rate (a) $ 312 $ 665 $ 1,956 $ 785 Credit (b) (84 ) 76 (244 ) 52 Foreign exchange (c) (2 ) 26 (2 ) 21 Commodity (d) — — — (13 ) Total $ 226 $ 767 $ 1,710 $ 845 (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 derivatives used to mitigate 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, 2016 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (1,217,087 ) $ 1,230,857 $ 13,770 $ 8,587 Other credit derivatives (a) (29,119 ) 35,281 6,162 23,688 Total credit derivatives (1,246,206 ) 1,266,138 19,932 32,275 Credit-related notes (28 ) — (28 ) 5,123 Total $ (1,246,234 ) $ 1,266,138 $ 19,904 $ 37,398 Maximum payout/Notional amount December 31, 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 $ (1,386,071 ) $ 1,402,201 $ 16,130 $ 12,011 Other credit derivatives (a) (42,738 ) 38,158 (4,580 ) 18,792 Total credit derivatives (1,428,809 ) 1,440,359 11,550 30,803 Credit-related notes (30 ) — (30 ) 4,715 Total $ (1,428,839 ) $ 1,440,359 $ 11,520 $ 35,518 (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, 2016 , and December 31, 2015, 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, 2016 <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 $ (276,853 ) $ (515,954 ) $ (76,261 ) $ (869,068 ) $ 10,084 $ (3,936 ) $ 6,148 Noninvestment-grade (132,323 ) (211,830 ) (33,013 ) (377,166 ) 10,356 (10,891 ) (535 ) Total $ (409,176 ) $ (727,784 ) $ (109,274 ) $ (1,246,234 ) $ 20,440 $ (14,827 ) $ 5,613 December 31, 2015 <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 $ (307,211 ) $ (699,227 ) $ (46,970 ) $ (1,053,408 ) $ 13,539 $ (6,836 ) $ 6,703 Noninvestment-grade (109,195 ) (245,151 ) (21,085 ) (375,431 ) 10,823 (18,891 ) (8,068 ) Total $ (416,406 ) $ (944,378 ) $ (68,055 ) $ (1,428,839 ) $ 24,362 $ (25,727 ) $ (1,365 ) (a) The ratings scale is primarily based on external credit ratings defined by S&P and Moody’s. (b) Amounts are shown on a gross basis, before the benefit of legally enforceable master netting agreements and cash collateral received by the Firm. |
Noninterest Revenue (Tables)
Noninterest Revenue (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 September 30, (in millions) 2016 2015 2016 2015 Underwriting Equity $ 369 $ 257 $ 854 $ 1,108 Debt 958 855 2,404 2,621 Total underwriting 1,327 1,112 3,258 3,729 Advisory 539 492 1,585 1,502 Total investment banking fees $ 1,866 $ 1,604 $ 4,843 $ 5,231 |
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 September 30, (in millions) 2016 2015 2016 2015 Trading revenue by instrument type Interest rate $ 825 $ 530 $ 1,843 $ 1,836 Credit 549 438 1,652 1,477 Foreign exchange 818 607 2,101 2,014 Equity 893 637 2,584 2,593 Commodity (a) 245 156 695 745 Total trading revenue 3,330 2,368 8,875 8,665 Private equity gains (b) 121 (1 ) 231 191 Principal transactions $ 3,451 $ 2,367 $ 9,106 $ 8,856 (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 September 30, (in millions) 2016 2015 2016 2015 Asset management fees Investment management fees (a) $ 2,203 $ 2,327 $ 6,541 $ 7,017 All other asset management fees (b) 90 92 277 290 Total asset management fees 2,293 2,419 6,818 7,307 Total administration fees (c) 478 486 1,444 1,520 Commission and other fees Brokerage commissions 505 575 1,628 1,761 All other commissions and fees 321 365 1,012 1,079 Total commissions and fees 826 940 2,640 2,840 Total asset management, administration and commissions $ 3,597 $ 3,845 $ 10,902 $ 11,667 (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 September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Operating lease income $ 708 $ 536 $ 1,974 $ 1,509 |
Interest Income and Interest 38
Interest Income and Interest Expense (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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) 2016 2015 2016 2015 Interest income Loans $ 9,237 $ 8,433 $ 27,065 $ 24,459 Taxable securities 1,365 1,553 4,187 4,885 Nontaxable securities (a) 436 439 1,321 1,260 Total securities 1,801 1,992 5,508 6,145 Trading assets 1,890 1,538 5,448 5,008 Federal funds sold and securities purchased under resale agreements 566 431 1,696 1,167 Securities borrowed (b) (91 ) (118 ) (279 ) (397 ) Deposits with banks 448 291 1,374 944 Other assets (c) 219 172 623 492 Total interest income 14,070 12,739 41,435 37,818 Interest expense Interest-bearing deposits 340 293 981 965 Federal funds purchased and securities loaned or sold under repurchase agreements 286 159 828 444 Commercial paper 34 24 105 88 Trading liabilities – debt, short-term and other liabilities (d) 285 132 826 459 Long-term debt 1,387 1,092 3,999 3,254 Beneficial interests issued by consolidated VIEs 135 115 366 323 Total interest expense 2,467 1,815 7,105 5,533 Net interest income 11,603 10,924 34,330 32,285 Provision for credit losses 1,271 682 4,497 2,576 Net interest income after provision for credit losses $ 10,332 $ 10,242 $ 29,833 $ 29,709 (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, 2016 and 2015 , 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, 2016 | |
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) 2016 2015 2016 2015 2016 2015 Components of net periodic benefit cost Benefits earned during the period $ 74 $ 85 $ 9 $ 9 $ — $ — Interest cost on benefit obligations 133 125 21 28 7 8 Expected return on plan assets (223 ) (232 ) (32 ) (38 ) (26 ) (27 ) Amortization: Net (gain)/loss 59 62 6 9 — — Prior service cost/(credit) (9 ) (9 ) — — — — Net periodic defined benefit cost 34 31 4 8 (19 ) (19 ) Other defined benefit pension plans (a) 3 3 3 2 NA NA Total defined benefit plans 37 34 7 10 (19 ) (19 ) Total defined contribution plans 123 119 80 85 NA NA Total pension and OPEB cost included in compensation expense $ 160 $ 153 $ 87 $ 95 $ (19 ) $ (19 ) Pension plans U.S. Non-U.S. OPEB plans Nine months ended September 30, (in millions) 2016 2015 2016 2015 2016 2015 Components of net periodic benefit cost Benefits earned during the period $ 221 $ 255 $ 27 $ 28 $ — $ — Interest cost on benefit obligations 399 375 71 84 22 24 Expected return on plan assets (668 ) (697 ) (102 ) (113 ) (78 ) (80 ) Amortization: Net (gain)/loss 176 185 17 27 — — Prior service cost/(credit) (26 ) (26 ) (1 ) (1 ) — — Net periodic defined benefit cost 102 92 12 25 (56 ) (56 ) Other defined benefit pension plans (a) 10 10 8 7 NA NA Total defined benefit plans 112 102 20 32 (56 ) (56 ) Total defined contribution plans 345 323 249 254 NA NA Total pension and OPEB cost included in compensation expense $ 457 $ 425 $ 269 $ 286 $ (56 ) $ (56 ) (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, 2016 | |
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 Nine months ended (in millions) 2016 2015 2016 2015 Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods $ 257 $ 269 $ 808 $ 856 Accrual of estimated costs of stock-based awards to be granted in future periods including those to full-career eligible employees 230 195 752 683 Total noncash compensation expense related to employee stock-based incentive plans $ 487 $ 464 $ 1,560 $ 1,539 |
Noninterest Expense (Tables)
Noninterest Expense (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Noninterest Expense [Abstract] | |
Components of noninterest expense | Included within other expense are the following: Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Legal expense/(benefit) $ (71 ) $ 1,347 $ (547 ) $ 2,325 FDIC-related expense 360 298 912 916 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 December 31, 2015 (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) 54,961 1,876 15 $ 56,822 $ 53,689 $ 1,483 $ 106 $ 55,066 Residential: Prime and Alt-A 6,269 86 24 6,331 7,462 40 57 7,445 Subprime 2,582 22 — 2,604 210 7 — 217 Non-U.S. 6,801 180 10 6,971 19,629 341 13 19,957 Commercial 11,378 181 35 11,524 22,990 150 243 22,897 Total mortgage-backed securities 81,991 2,345 84 84,252 103,980 2,021 419 105,582 U.S. Treasury and government agencies (a) 21,674 52 218 21,508 11,202 — 166 11,036 Obligations of U.S. states and municipalities 28,685 2,728 10 31,403 31,328 2,245 23 33,550 Certificates of deposit 108 — — 108 282 1 — 283 Non-U.S. government debt securities 36,120 1,150 17 37,253 35,864 853 41 36,676 Corporate debt securities 5,336 76 29 5,383 12,464 142 170 12,436 Asset-backed securities: Collateralized loan obligations 30,688 76 43 30,721 31,146 52 191 31,007 Other 7,681 62 67 7,676 9,125 72 100 9,097 Total available-for-sale debt securities 212,283 6,489 468 218,304 235,391 5,386 1,110 239,667 Available-for-sale equity securities 2,065 21 — 2,086 2,067 20 — 2,087 Total available-for-sale securities $ 214,348 $ 6,510 $ 468 $ 220,390 $ 237,458 $ 5,406 $ 1,110 $ 241,754 Held-to-maturity debt securities Mortgage-backed securities: U.S. government agencies (b) 31,730 1,599 — 33,329 36,271 852 42 37,081 Commercial 5,792 124 — 5,916 — — — — Total mortgage-backed securities 37,522 1,723 — 39,245 36,271 852 42 37,081 Obligations of U.S. states and municipalities 14,489 1,005 6 15,488 12,802 708 4 13,506 Total held-to-maturity debt securities 52,011 2,728 6 54,733 49,073 1,560 46 50,587 Total securities $ 266,359 $ 9,238 $ 474 $ 275,123 $ 286,531 $ 6,966 $ 1,156 $ 292,341 (a) Included total U.S. government-sponsored enterprise obligations with fair values of $37.5 billion and $42.3 billion at September 30, 2016 , and December 31, 2015 , respectively, which were predominantly mortgage-related. (b) Included total U.S. government-sponsored enterprise obligations with amortized cost of $27.1 billion and $30.8 billion at September 30, 2016 , and December 31, 2015 , respectively, which were predominantly mortgage-related. |
Securities impairment | The following tables present the fair value and gross unrealized losses for investment securities by aging category at September 30, 2016 , and December 31, 2015 . Securities with gross unrealized losses Less than 12 months 12 months or more September 30, 2016 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale debt securities Mortgage-backed securities: U.S. government agencies $ 2,428 $ 6 $ 458 $ 9 $ 2,886 $ 15 Residential: Prime and Alt-A 660 6 1,036 18 1,696 24 Subprime — — — — — — Non-U.S. 354 1 886 9 1,240 10 Commercial 3,205 29 1,308 6 4,513 35 Total mortgage-backed securities 6,647 42 3,688 42 10,335 84 U.S. Treasury and government agencies 17,595 218 — — 17,595 218 Obligations of U.S. states and municipalities 685 9 49 1 734 10 Certificates of deposit — — — — — — Non-U.S. government debt securities 2,559 6 430 11 2,989 17 Corporate debt securities — — 977 29 977 29 Asset-backed securities: Collateralized loan obligations 1,226 1 7,936 42 9,162 43 Other 1,964 40 1,094 27 3,058 67 Total available-for-sale debt securities 30,676 316 14,174 152 44,850 468 Available-for-sale equity securities — — — — — — Held-to-maturity securities Mortgage-backed securities U.S. government agencies — — — — — — Commercial — — — — — — Total mortgage-backed securities — — — — — — Obligations of U.S. states and municipalities 824 6 — — 824 6 Total held-to-maturity securities 824 6 — — 824 6 Total securities with gross unrealized losses $ 31,500 $ 322 $ 14,174 $ 152 $ 45,674 $ 474 Securities with gross unrealized losses Less than 12 months 12 months or more December 31, 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 $ 13,002 $ 95 $ 697 $ 11 $ 13,699 $ 106 Residential: Prime and Alt-A 5,147 51 238 6 5,385 57 Subprime — — — — — — Non-U.S. 2,021 12 167 1 2,188 13 Commercial 13,779 239 658 4 14,437 243 Total mortgage-backed securities 33,949 397 1,760 22 35,709 419 U.S. Treasury and government agencies 10,998 166 — — 10,998 166 Obligations of U.S. states and municipalities 1,676 18 205 5 1,881 23 Certificates of deposit — — — — — — Non-U.S. government debt securities 3,267 26 367 15 3,634 41 Corporate debt securities 3,198 125 848 45 4,046 170 Asset-backed securities: Collateralized loan obligations 15,340 67 10,692 124 26,032 191 Other 4,284 60 1,005 40 5,289 100 Total available-for-sale debt securities 72,712 859 14,877 251 87,589 1,110 Available-for-sale equity securities — — — — — — Held-to-maturity debt securities Mortgage-backed securities U.S. government agencies 3,294 42 — — 3,294 42 Commercial — — — — — — Total mortgage-backed securities 3,294 42 — — 3,294 42 Obligations of U.S. states and municipalities 469 4 — — 469 4 Total Held-to-maturity securities 3,763 46 — — 3,763 46 Total securities with gross unrealized losses $ 76,475 $ 905 $ 14,877 $ 251 $ 91,352 $ 1,156 |
Securities gains and losses | The following table presents realized gains and losses and OTTI losses from AFS securities that were recognized in income. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Realized gains $ 95 $ 65 $ 284 $ 250 Realized losses (22 ) (20 ) (110 ) (107 ) OTTI losses (9 ) (12 ) (38 ) (14 ) Net securities gains $ 64 $ 33 $ 136 $ 129 OTTI losses Credit-related losses recognized in income $ — $ — $ (1 ) $ (1 ) Securities the Firm intends to sell (a) (9 ) (12 ) (37 ) (13 ) Total OTTI losses recognized in income $ (9 ) $ (12 ) $ (38 ) $ (14 ) (a) Excludes realized losses on securities sold of $14 million for the nine months ended September 30, 2016 that had been previously reported as an OTTI loss due to the intention to sell the securities. |
Amortized cost and estimated fair value by contractual maturity | The following table presents the amortized cost and estimated fair value at September 30, 2016 , of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 30, 2016 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 $ 1,577 $ 3,188 $ 8,327 $ 68,899 $ 81,991 Fair value 1,586 3,269 8,576 70,821 84,252 Average yield (b) 2.18 % 2.27 % 2.93 % 3.26 % 3.17 % U.S. Treasury and government agencies Amortized cost $ 75 $ 4,731 $ 15,531 $ 1,337 $ 21,674 Fair value 75 4,714 15,462 1,257 21,508 Average yield (b) 0.43 % 0.70 % 1.22 % 0.91 % 1.08 % Obligations of U.S. states and municipalities Amortized cost $ 123 $ 666 $ 1,045 $ 26,851 $ 28,685 Fair value 125 688 1,124 29,466 31,403 Average yield (b) 6.15 % 3.27 % 6.25 % 6.66 % 6.56 % Certificates of deposit Amortized cost $ 108 $ — $ — $ — $ 108 Fair value 108 — — — 108 Average yield (b) 1.76 % — — — 1.76 % Non-U.S. government debt securities Amortized cost $ 5,777 $ 14,341 $ 13,917 $ 2,085 $ 36,120 Fair value 5,792 14,734 14,548 2,179 37,253 Average yield (b) 2.94 % 1.47 % 0.92 % 0.48 % 1.44 % Corporate debt securities Amortized cost $ 1,551 $ 2,025 $ 1,630 $ 130 $ 5,336 Fair value 1,565 2,058 1,630 130 5,383 Average yield (b) 3.53 % 2.67 % 2.99 % 3.22 % 3.03 % Asset-backed securities Amortized cost $ 7 $ 565 $ 22,889 $ 14,908 $ 38,369 Fair value 7 568 22,895 14,927 38,397 Average yield (b) 2.47 % 0.79 % 2.17 % 2.08 % 2.12 % Total available-for-sale debt securities Amortized cost $ 9,218 $ 25,516 $ 63,339 $ 114,210 $ 212,283 Fair value 9,258 26,031 64,235 118,780 218,304 Average yield (b) 2.92 % 1.55 % 1.85 % 3.83 % 2.93 % Available-for-sale equity securities Amortized cost $ — $ — $ — $ 2,065 $ 2,065 Fair value — — — 2,086 2,086 Average yield (b) — % — % — % 0.29 % 0.29 % Total available-for-sale securities Amortized cost $ 9,218 $ 25,516 $ 63,339 $ 116,275 $ 214,348 Fair value 9,258 26,031 64,235 120,866 220,390 Average yield (b) 2.92 % 1.55 % 1.85 % 3.77 % 2.90 % Held-to-maturity debt securities Mortgage-backed securities (a) Amortized cost $ — $ — $ — $ 37,522 $ 37,522 Fair value — — — 39,245 39,245 Average yield (b) — % — % — % 3.31 % 3.31 % Obligations of U.S. states and municipalities Amortized cost $ — $ 29 $ 1,385 $ 13,075 $ 14,489 Fair value — 30 1,470 13,988 15,488 Average yield (b) — % 6.11 % 5.08 % 5.68 % 5.62 % Total held-to-maturity securities Amortized cost $ — $ 29 $ 1,385 $ 50,597 $ 52,011 Fair value — 30 1,470 53,233 54,733 Average yield (b) — % 6.11 % 5.08 % 3.92 % 3.95 % (a) U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase ’s total stockholders’ equity at September 30, 2016 . (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 U.S. residential MBS and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated weighted-average life, which reflects anticipated future prepayments, is approximately 5 years for agency residential MBS, 2 years for agency residential collateralized mortgage obligations and 3 years for nonagency residential collateralized mortgage obligations. |
Securities Financing Activiti43
Securities Financing Activities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Securities Financing Transactions Disclosures [Abstract] | |
Schedule of securities sold under repurchase agreements, netting & securities loaned | The table below summarizes the gross and net amounts of the Firm’s securities financing agreements as of September 30, 2016 and December 31, 2015. When the Firm has obtained an appropriate legal opinion with respect to the master netting agreement with a counterparty and where other relevant netting criteria under U.S. GAAP are met, the Firm nets, on the Consolidated balance sheets, the balances outstanding under its securities financing agreements with the same counterparty. In addition, the Firm exchanges securities and/or cash collateral with its counterparties; this collateral also reduces, in the Firm’s view, the economic exposure with the counterparty. Such collateral, along with securities financing balances that do not meet relevant netting criteria under U.S. GAAP, is presented as “Amounts not nettable on the Consolidated balance sheets,” and reduces the “Net amounts” presented below, if the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. September 30, 2016 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 448,134 $ (215,572 ) $ 232,562 $ (226,850 ) $ 5,712 Securities borrowed 109,197 — 109,197 (78,667 ) 30,530 Liabilities Securities sold under repurchase agreements $ 367,383 $ (215,572 ) $ 151,811 $ (132,431 ) $ 19,380 Securities loaned and other (a) 23,002 — 23,002 (22,926 ) 76 December 31, 2015 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 368,148 $ (156,258 ) $ 211,890 $ (207,958 ) (e) $ 3,932 (e) Securities borrowed 98,721 — 98,721 (65,081 ) 33,640 Liabilities Securities sold under repurchase agreements $ 290,044 $ (156,258 ) $ 133,786 $ (119,332 ) (e) $ 14,454 (e) Securities loaned and other (a) 22,556 — 22,556 (22,245 ) 311 (a) Includes securities-for-securities lending transactions of $7.4 billion and $4.4 billion at September 30, 2016 and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. (b) Includes securities financing agreements accounted for at fair value. At September 30, 2016 and December 31, 2015, included securities purchased under resale agreements of $23.0 billion and $23.1 billion , respectively, securities borrowed of zero and $395 million , respectively, and securities sold under agreements to repurchase of $1.4 billion and $3.5 billion , respectively. There were no securities loaned accounted for at fair value in either period. (c) In some cases, collateral exchanged with a counterparty exceeds the net asset or liability balance with that counterparty. In such cases, the amounts reported in this column are limited to the related asset or liability with that counterparty. (d) Includes securities financing agreements that provide collateral rights, but where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained. At September 30, 2016 and December 31, 2015, included $3.9 billion and $2.3 billion , respectively, of securities purchased under resale agreements; $27.9 billion and $31.3 billion , respectively, of securities borrowed; $17.5 billion and $12.6 billion , respectively, of securities sold under agreements to repurchase; and $22 million and $45 million , respectively, of securities loaned and other. (e) The prior period amounts have been revised to conform with the current presentation. |
Schedule of types of assets pledged in secured financing transactions | The tables below present as of September 30, 2016 , and December 31, 2015 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements. Gross liability balance September 30, 2016 December 31, 2015 (in millions) Securities sold under repurchase agreements Securities loaned and other (a) Securities sold under repurchase agreements Securities loaned and other (a) Mortgage-backed securities $ 17,038 $ — $ 12,790 $ — U.S. Treasury and government agencies 202,515 17 154,377 5 Obligations of U.S. states and municipalities 2,076 — 1,316 — Non-U.S. government debt 106,088 5,813 80,162 4,426 Corporate debt securities 19,754 86 21,286 78 Asset-backed securities 5,139 — 4,394 — Equity securities 14,773 17,086 15,719 18,047 Total $ 367,383 $ 23,002 $ 290,044 $ 22,556 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2016 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 141,524 $ 132,267 $ 41,871 $ 51,721 $ 367,383 Total securities loaned and other (a) 11,460 647 1,588 9,307 23,002 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days December 31, 2015 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 114,595 $ 100,082 $ 29,955 $ 45,412 $ 290,044 Total securities loaned and other (a) 8,320 708 793 12,735 22,556 (a) Includes securities-for-securities lending transactions of $7.4 billion and $4.4 billion at September 30, 2016 and December 31, 2015, respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
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 (f) Residential real estate – excluding PCI • Home equity (b) • Residential mortgage (c) Other consumer loans • Auto (d) • Business banking (d)(e) • 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 (g) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AM and prime mortgage loans held in Corporate. (b) Includes senior and junior lien home equity loans. (c) Includes prime (including option ARMs) and subprime loans. (d) 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. (e) Predominantly includes Business Banking loans as well as deposit overdrafts. (f) 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. (g) Includes loans to: individuals; SPEs; holding companies; and private education and civic organizations. For more information on exposures to SPEs, see Note 16 of JPMorgan Chase ’s 2015 Annual Report |
Schedule of loans by portfolio segment | The following tables summarize the Firm’s loan balances by portfolio segment. September 30, 2016 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 363,398 $ 133,346 $ 386,449 $ 883,193 (b) Held-for-sale 398 89 2,463 2,950 At fair value — — 1,911 1,911 Total $ 363,796 $ 133,435 $ 390,823 $ 888,054 December 31, 2015 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 344,355 $ 131,387 $ 357,050 $ 832,792 (b) Held-for-sale 466 76 1,104 1,646 At fair value — — 2,861 2,861 Total $ 344,821 $ 131,463 $ 361,015 $ 837,299 (a) Includes accrued interest and fees net of an allowance for the uncollectible portion of accrued interest and fee income. (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. These amounts were not material as of September 30, 2016 , and December 31, 2015 . 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 $ 40,740 $ 45,559 Residential mortgage 189,558 166,239 Other consumer loans Auto 64,512 60,255 Business banking 22,292 21,208 Student and other 9,251 10,096 Residential real estate – PCI Home equity 13,448 14,989 Prime mortgage 7,919 8,893 Subprime mortgage 3,021 3,263 Option ARMs 12,657 13,853 Total retained loans $ 363,398 $ 344,355 |
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. 2016 2015 Three months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 959 (a)(b) $ — $ 282 $ 1,241 $ 1,196 (a)(b) $ — $ 1,199 $ 2,395 Sales 577 — 2,637 3,214 1,130 — 1,856 2,986 Retained loans reclassified to held-for-sale 176 — 777 953 — 79 20 99 2016 2015 Nine months ended September 30, (in millions) Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 3,048 (a)(b) $ — $ 975 $ 4,023 $ 3,918 (a)(b) $ — $ 1,894 $ 5,812 Sales 2,242 — 6,383 8,625 4,073 — (c) 7,381 11,454 Retained loans reclassified to held-for-sale 259 — 1,393 1,652 1,272 79 455 1,806 (a) Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Government National Mortgage Association (“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, FHA, RHS, and/or VA. (b) Excludes purchases of retained loans sourced through the correspondent origination channel and underwritten in accordance with the Firm’s standards. Such purchases were $6.7 billion and $14.4 billion for the three months ended September 30, 2016 and 2015 , respectively, and $23.8 billion and $39.8 billion for the nine months ended September 30, 2016 and 2015 , respectively. (c) Prior period amounts have been revised to conform with current period presentation. |
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 September 30, (in millions) 2016 2015 2016 2015 Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments) (a) Consumer, excluding credit card $ 51 $ 62 $ 168 $ 239 Credit card (2 ) 13 (6 ) 22 Wholesale 17 33 15 32 Total net gains on sales of loans (including lower of cost or fair value adjustments) $ 66 $ 108 $ 177 $ 293 (a) Excludes sales related to loans accounted for at fair value. |
Schedule of financing receivable credit quality indicators | The following tables set forth delinquency statistics for PCI junior lien home equity loans and lines of credit based on the unpaid principal balance as of September 30, 2016 , and December 31, 2015 . 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) $ 2,754 $ 5,000 3.81 % 4.10 % Beyond the revolving period (c) 7,265 6,252 3.98 4.46 HELOANs 494 582 4.86 5.33 Total $ 10,513 $ 11,834 3.98 % 4.35 % (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 following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines as of September 30, 2016 , and December 31, 2015 . 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) $ 11,646 $ 17,050 1.18 % 1.57 % Beyond the revolving period 13,135 11,252 2.90 3.10 HELOANs 1,999 2,409 2.70 3.03 Total $ 26,780 $ 30,711 2.14 % 2.25 % (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 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. 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 (in millions, except ratios) Home equity (g) Residential mortgage (g) Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 39,644 $ 44,299 $ 181,247 $ 156,463 $ 220,891 $ 200,762 30–149 days past due 610 708 3,737 4,042 4,347 4,750 150 or more days past due 486 552 4,574 5,734 5,060 6,286 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 % of 30+ days past due to total retained loans (b) 2.69 % 2.77 % 0.81 % 1.03 % 1.14 % 1.40 % 90 or more days past due and government guaranteed (c) $ — $ — $ 4,796 $ 6,056 $ 4,796 $ 6,056 Nonaccrual loans 1,904 2,191 2,295 2,503 4,199 4,694 Current estimated LTV ratios (d)(e) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 65 $ 165 $ 52 $ 58 $ 117 $ 223 Less than 660 18 32 64 77 82 109 101% to 125% and refreshed FICO scores: Equal to or greater than 660 810 1,344 162 274 972 1,618 Less than 660 266 434 237 291 503 725 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,346 4,537 4,009 3,159 7,355 7,696 Less than 660 1,069 1,409 880 996 1,949 2,405 Less than 80% and refreshed FICO scores: Equal to or greater than 660 28,185 29,648 165,480 142,241 193,665 171,889 Less than 660 4,534 4,934 7,027 6,797 11,561 11,731 No FICO/LTV available 2,447 3,056 2,095 1,658 4,542 4,714 U.S. government-guaranteed — — 9,552 10,688 9,552 10,688 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 Geographic region California $ 7,992 $ 8,945 $ 57,410 $ 47,263 $ 65,402 $ 56,208 New York 8,345 9,147 24,282 21,462 32,627 30,609 Illinois 3,067 3,420 13,117 11,524 16,184 14,944 Texas 2,278 2,532 10,519 9,128 12,797 11,660 Florida 2,196 2,409 8,295 7,177 10,491 9,586 New Jersey 2,324 2,590 6,365 5,567 8,689 8,157 Washington 1,287 1,451 5,159 4,176 6,446 5,627 Arizona 1,858 2,143 3,604 3,155 5,462 5,298 Michigan 1,194 1,350 2,069 1,945 3,263 3,295 Ohio 1,464 1,652 1,362 1,247 2,826 2,899 All other (f) 8,735 9,920 57,376 53,595 66,111 63,515 Total retained loans $ 40,740 $ 45,559 $ 189,558 $ 166,239 $ 230,298 $ 211,798 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.8 billion and $2.6 billion ; 30 – 149 days past due included $2.9 billion and $3.2 billion ; and 150 or more days past due included $3.9 billion and $4.9 billion at September 30, 2016 , and December 31, 2015 , respectively. (b) At September 30, 2016 , and December 31, 2015 , Residential mortgage loans excluded mortgage loans insured by U.S. government agencies of $6.8 billion and $8.1 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, 2016 , and December 31, 2015 , these balances included $2.7 billion and $3.4 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 that were not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing interest at September 30, 2016 , and December 31, 2015 . (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. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (e) Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. (f) At September 30, 2016 , and December 31, 2015 , included mortgage loans insured by U.S. government agencies of $9.6 billion and $10.7 billion , respectively. (g) Includes residential real estate loans to private banking clients in AM, for which the primary credit quality indicators are the borrower’s financial position and LTV. The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. 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) $ 13,448 $ 14,989 $ 7,919 $ 8,893 $ 3,021 $ 3,263 $ 12,657 $ 13,853 $ 37,045 $ 40,998 Related allowance for loan losses (b) 1,708 1,708 861 985 — — 49 49 2,618 2,742 Loan delinquency (based on unpaid principal balance) Current $ 12,970 $ 14,387 $ 7,100 $ 7,894 $ 3,065 $ 3,232 $ 11,445 $ 12,370 $ 34,580 $ 37,883 30–149 days past due 279 322 350 424 389 439 571 711 1,589 1,896 150 or more days past due 510 633 494 601 260 380 993 1,272 2,257 2,886 Total loans $ 13,759 $ 15,342 $ 7,944 $ 8,919 $ 3,714 $ 4,051 $ 13,009 $ 14,353 $ 38,426 $ 42,665 % of 30+ days past due to total loans 5.73 % 6.22 % 10.62 % 11.49 % 17.47 % 20.22 % 12.02 % 13.82 % 10.01 % 11.21 % Current estimated LTV ratios (based on unpaid principal balance) (c)(d) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 89 $ 153 $ 6 $ 10 $ 6 $ 10 $ 11 $ 19 $ 112 $ 192 Less than 660 50 80 19 28 33 55 23 36 125 199 101% to 125% and refreshed FICO scores: Equal to or greater than 660 649 942 64 120 46 77 98 166 857 1,305 Less than 660 305 444 94 152 152 220 164 239 715 1,055 80% to 100% and refreshed FICO scores: Equal to or greater than 660 2,119 2,709 520 816 248 331 653 977 3,540 4,833 Less than 660 914 1,136 436 614 496 643 744 1,050 2,590 3,443 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 6,678 6,724 4,082 4,243 915 863 6,847 7,073 18,522 18,903 Less than 660 2,198 2,265 2,312 2,438 1,635 1,642 3,858 4,065 10,003 10,410 No FICO/LTV available 757 889 411 498 183 210 611 728 1,962 2,325 Total unpaid principal balance $ 13,759 $ 15,342 $ 7,944 $ 8,919 $ 3,714 $ 4,051 $ 13,009 $ 14,353 $ 38,426 $ 42,665 Geographic region (based on unpaid principal balance) California $ 8,246 $ 9,205 $ 4,589 $ 5,172 $ 927 $ 1,005 $ 7,378 $ 8,108 $ 21,140 $ 23,490 New York 724 788 528 580 373 400 740 813 2,365 2,581 Illinois 327 358 235 263 181 196 289 333 1,032 1,150 Texas 193 224 83 94 219 243 66 75 561 636 Florida 1,348 1,479 519 586 341 373 1,063 1,183 3,271 3,621 New Jersey 289 310 217 238 127 139 419 470 1,052 1,157 Washington 708 819 173 194 71 81 303 339 1,255 1,433 Arizona 253 281 131 143 70 76 188 203 642 703 Michigan 39 44 126 141 103 113 133 150 401 448 Ohio 15 17 41 45 58 62 53 61 167 185 All other 1,617 1,817 1,302 1,463 1,244 1,363 2,377 2,618 6,540 7,261 Total unpaid principal balance $ 13,759 $ 15,342 $ 7,944 $ 8,919 $ 3,714 $ 4,051 $ 13,009 $ 14,353 $ 38,426 $ 42,665 (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. 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 $ 63,815 $ 59,442 $ 21,954 $ 20,887 $ 8,644 $ 9,405 $ 94,413 $ 89,734 30–119 days past due 688 804 212 215 380 445 1,280 1,464 120 or more days past due 9 9 126 106 227 246 362 361 Total retained loans $ 64,512 $ 60,255 $ 22,292 $ 21,208 $ 9,251 $ 10,096 $ 96,055 $ 91,559 % of 30+ days past due to total retained loans 1.08 % 1.35 % 1.52 % 1.51 % 1.58 % (d) 1.63 % (d) 1.23 % (d) 1.42 % (d) 90 or more days past due and (b) $ — $ — $ — $ — $ 259 $ 290 $ 259 $ 290 Nonaccrual loans 212 116 286 263 211 242 709 621 Geographic region California $ 7,837 $ 7,186 $ 4,031 $ 3,530 $ 951 $ 1,051 $ 12,819 $ 11,767 New York 3,970 3,874 3,392 3,359 1,202 1,224 8,564 8,457 Illinois 3,921 3,678 1,582 1,459 608 679 6,111 5,816 Texas 6,866 6,457 2,715 2,622 761 839 10,342 9,918 Florida 3,343 2,843 1,046 941 484 516 4,873 4,300 New Jersey 2,026 1,998 540 500 326 366 2,892 2,864 Washington 1,207 1,135 279 264 198 212 1,684 1,611 Arizona 2,215 2,033 1,251 1,205 212 236 3,678 3,474 Michigan 1,514 1,550 1,309 1,361 369 415 3,192 3,326 Ohio 2,269 2,340 1,359 1,363 509 559 4,137 4,262 All other 29,344 27,161 4,788 4,604 3,631 3,999 37,763 35,764 Total retained loans $ 64,512 $ 60,255 $ 22,292 $ 21,208 $ 9,251 $ 10,096 $ 96,055 $ 91,559 Loans by risk ratings (c) Noncriticized $ 12,276 $ 11,277 $ 16,563 $ 15,505 NA NA $ 28,839 $ 26,782 Criticized performing 188 76 761 815 NA NA 949 891 Criticized nonaccrual 98 — 236 210 NA NA 334 210 (a) Student loan delinquency classifications included loans insured by U.S. government agencies under the FFELP as follows: current included $3.5 billion and $3.8 billion ; 30 - 119 days past due included $250 million and $299 million ; and 120 or more days past due included $211 million and $227 million at September 30, 2016 , and December 31, 2015 , 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, 2016 , and December 31, 2015 , excluded loans 30 days or more past due and still accruing, which are insured by U.S. government agencies under the FFELP, of $461 million and $526 million , respectively. These amounts were excluded as reimbursement of insured amounts is proceeding normally. 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 $ 131,311 $ 129,502 30–89 days past due and still accruing 1,041 941 90 or more days past due and still accruing 994 944 Total retained credit card loans $ 133,346 $ 131,387 Loan delinquency ratios % of 30+ days past due to total retained loans 1.53 % 1.43 % % of 90+ days past due to total retained loans 0.75 0.72 Credit card loans by geographic region California $ 19,218 $ 18,802 Texas 12,376 11,847 New York 11,606 11,360 Florida 8,005 7,806 Illinois 7,752 7,655 New Jersey 5,934 5,879 Ohio 4,627 4,700 Pennsylvania 4,496 4,533 Michigan 3,548 3,562 Colorado 3,521 3,399 All other 52,263 51,844 Total retained credit card loans $ 133,346 $ 131,387 Percentage of portfolio based on carrying value with estimated refreshed FICO scores (a) Equal to or greater than 660 84.5 % 84.4 % Less than 660 14.1 13.1 No FICO available 1.4 2.5 (a) The current period percentage of portfolio based on carrying value with estimated refreshed FICO scores disclosures have been updated to reflect where the FICO score is unavailable. The prior period amounts have been revised to conform with the current presentation. 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 $ 67,142 $ 62,150 $ 86,511 $ 74,330 $ 24,954 $ 21,786 $ 14,960 $ 11,363 $ 97,218 $ 98,107 $ 290,785 $ 267,736 Noninvestment-grade: Noncriticized 48,343 45,632 16,655 17,008 7,987 7,667 447 256 12,385 11,390 85,817 81,953 Criticized performing 6,486 4,542 867 1,251 175 320 6 7 162 253 7,696 6,373 Criticized nonaccrual 1,637 608 206 231 18 10 — — 290 139 2,151 988 Total noninvestment- grade 56,466 50,782 17,728 18,490 8,180 7,997 453 263 12,837 11,782 95,664 89,314 Total retained loans $ 123,608 $ 112,932 $ 104,239 $ 92,820 $ 33,134 $ 29,783 $ 15,413 $ 11,626 $ 110,055 $ 109,889 $ 386,449 $ 357,050 % of total criticized exposure to total retained loans 6.57 % 4.56 % 1.03 % 1.60 % 0.58 % 1.11 % 0.04 % 0.06 % 0.41 % 0.36 % 2.55 % 2.06 % % of criticized nonaccrual to total retained loans 1.32 0.54 0.20 0.25 0.05 0.03 — — 0.26 0.13 0.56 0.28 Loans by geographic distribution (a) Total non-U.S. $ 33,799 $ 30,063 $ 3,970 $ 3,003 $ 16,937 $ 17,166 $ 3,948 $ 1,788 $ 42,604 $ 42,031 $ 101,258 $ 94,051 Total U.S. 89,809 82,869 100,269 89,817 16,197 12,617 11,465 9,838 67,451 67,858 285,191 262,999 Total retained loans $ 123,608 $ 112,932 $ 104,239 $ 92,820 $ 33,134 $ 29,783 $ 15,413 $ 11,626 $ 110,055 $ 109,889 $ 386,449 $ 357,050 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 121,674 $ 112,058 $ 104,009 $ 92,381 $ 33,039 $ 29,713 $ 15,410 $ 11,565 $ 108,755 $ 108,734 $ 382,887 $ 354,451 30–89 days past due and still accruing 178 259 24 193 59 49 — 55 951 988 1,212 1,544 90 or more days past due and still accruing (c) 119 7 — 15 18 11 3 6 59 28 199 67 Criticized nonaccrual 1,637 608 206 231 18 10 — — 290 139 2,151 988 Total retained loans $ 123,608 $ 112,932 $ 104,239 $ 92,820 $ 33,134 $ 29,783 $ 15,413 $ 11,626 $ 110,055 $ 109,889 $ 386,449 $ 357,050 (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 further discussion, see Note 14 of JPMorgan Chase ’s 2015 Annual Report . (c) Represents loans that are considered well-collateralized and therefore still accruing interest. (d) Other includes: individuals; SPEs; holding companies; and private education and civic organizations. For more information on exposures to SPEs, see Note 16 of JPMorgan Chase ’s 2015 Annual Report . 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 2015 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 $ 65,006 $ 60,290 $ 24,415 $ 20,062 $ 5,871 $ 4,920 $ 8,947 $ 7,548 $ 104,239 $ 92,820 Criticized exposure 519 520 442 844 93 43 19 75 1,073 1,482 % of total criticized exposure to total real estate retained loans 0.80 % 0.86 % 1.81 % 4.21 % 1.58 % 0.87 % 0.21 % 0.99 % 1.03 % 1.60 % Criticized nonaccrual $ 104 $ 85 $ 99 $ 100 $ 1 $ 1 $ 2 $ 45 $ 206 $ 231 % of criticized nonaccrual loans to total real estate retained loans 0.16 % 0.14 % 0.41 % 0.50 % 0.02 % 0.02 % 0.02 % 0.60 % 0.20 % 0.25 % |
Schedule of impaired financing receivables | The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 15 of JPMorgan Chase ’s 2015 Annual Report . Home equity Residential mortgage Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 1,287 $ 1,293 $ 4,865 $ 5,243 $ 6,152 $ 6,536 Without an allowance (a) 966 1,065 1,349 1,447 2,315 2,512 Total impaired loans (b)(c) $ 2,253 $ 2,358 $ 6,214 $ 6,690 $ 8,467 $ 9,048 Allowance for loan losses related to impaired loans $ 132 $ 138 $ 79 $ 108 $ 211 $ 246 Unpaid principal balance of impaired loans (d) 3,792 3,960 8,518 9,082 12,310 13,042 Impaired loans on nonaccrual status (e) 1,088 1,220 1,799 1,957 2,887 3,177 (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, 2016 , Chapter 7 residential real estate loans included approximately 13% of home equity and 17% of residential mortgages that were 30 days or more past due. (b) At September 30, 2016 , and December 31, 2015 , $3.6 billion and $3.8 billion , respectively, of loans modified subsequent to repurchase from 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, 2016 , and December 31, 2015 . 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, 2016 , and December 31, 2015 , nonaccrual loans included $2.3 billion and $2.5 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 2015 Annual Report . 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 $ 648 $ 527 Without an allowance (a) 30 31 Total impaired loans (b)(c) $ 678 $ 558 Allowance for loan losses related to impaired loans $ 141 $ 118 Unpaid principal balance of impaired loans (d) 790 668 Impaired loans on nonaccrual status 551 449 (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 $683 million and $543 million for the three months ended September 30, 2016 and 2015 , respectively, and $626 million and $565 million for the nine months ended September 30, 2016 and 2015 , 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, 2016 and 2015 . (d) Represents the contractual amount of principal owed at September 30, 2016 , and December 31, 2015 . 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. 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) $ 1,117 $ 1,286 Modified credit card loans that have reverted to pre-modification payment terms (d) 147 179 Total impaired credit card loans (e) $ 1,264 $ 1,465 Allowance for loan losses related to impaired credit card loans $ 363 $ 460 (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, 2016 , and December 31, 2015 , $95 million and $113 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 $52 million and $66 million at September 30, 2016 , and December 31, 2015 , 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 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 $ 1,249 $ 522 $ 135 $ 148 $ 17 $ 10 $ — $ — $ 176 $ 46 $ 1,577 $ 726 Without an allowance (a) 459 98 82 106 — — — — 115 94 656 298 Total impaired loans $ 1,708 $ 620 $ 217 $ 254 $ 17 $ 10 $ — $ — $ 291 $ 140 $ 2,233 (c) $ 1,024 (c) Allowance for loan losses related to impaired loans $ 400 $ 220 $ 17 $ 27 $ 3 $ 3 $ — $ — $ 70 $ 24 $ 490 $ 274 Unpaid principal balance of impaired loans (b) 1,965 669 314 363 19 13 — — 309 164 2,607 1,209 (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, 2016 , and December 31, 2015 . 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, largely consists of loans in the U.S. |
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 (a) (in millions) 2016 2015 2016 2015 2016 2015 Home equity $ 2,276 $ 2,351 $ 31 $ 32 $ 20 $ 20 Residential mortgage 6,305 6,980 76 82 19 22 Total residential real estate – excluding PCI $ 8,581 $ 9,331 $ 107 $ 114 $ 39 $ 42 Nine months ended September 30, Average impaired loans Interest income on (a) Interest income on impaired (a) (in millions) 2016 2015 2016 2015 2016 2015 Home equity $ 2,325 $ 2,371 $ 94 $ 98 $ 61 $ 64 Residential mortgage 6,457 7,996 231 268 58 68 Total residential real estate – excluding PCI $ 8,782 $ 10,367 $ 325 $ 366 $ 119 $ 132 (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. The following table presents average balances of impaired credit card loans and interest income recognized on those loans. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Average impaired credit card loans $ 1,283 $ 1,620 $ 1,349 $ 1,775 Interest income on impaired credit card loans 15 20 48 64 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) 2016 2015 2016 2015 Commercial and industrial $ 1,489 $ 559 $ 1,437 $ 388 Real estate 210 261 227 257 Financial institutions 16 12 13 14 Government agencies — — — 1 Other 213 122 197 114 Total (a) $ 1,928 $ 954 $ 1,874 $ 774 (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, 2016 and 2015 . |
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) 2016 2015 2016 2015 Home equity $ 62 $ 139 $ 258 $ 286 Residential mortgage 72 62 194 217 Total residential real estate – excluding PCI $ 134 $ 201 $ 452 $ 503 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, 2016 and 2015. (in millions) September 30, December 31, Loans modified in TDRs (a)(b) $ 386 $ 384 TDRs on nonaccrual status 259 275 (a) The impact of these modifications was not material to the Firm for the three and nine months ended September 30, 2016 and 2015 . (b) Additional commitments to lend to borrowers whose loans have been modified in TDRs as of September 30, 2016 , and December 31, 2015 , were immaterial. |
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 above 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, Total residential real estate – excluding PCI Home equity Residential mortgage 2016 2015 2016 2015 2016 2015 Number of loans approved for a trial modification 351 1,835 386 664 737 2,499 Number of loans permanently modified 1,163 953 849 805 2,012 1,758 Concession granted: (a) Interest rate reduction 83 % 71 % 81 % 73 % 82 % 72 % Term or payment extension 76 88 86 80 81 84 Principal and/or interest deferred 21 24 15 22 18 24 Principal forgiveness 6 4 25 29 14 15 Other (b) 6 — 27 13 15 6 Nine months ended September 30, Total residential real estate – excluding PCI Home equity Residential mortgage 2016 2015 2016 2015 2016 2015 Number of loans approved for a trial modification 2,088 2,732 1,521 1,992 3,609 4,724 Number of loans permanently modified 3,804 2,679 2,560 2,397 6,364 5,076 Concession granted: (a) Interest rate reduction 74 % 74 % 75 % 71 % 75 % 73 % Term or payment extension 84 86 89 81 86 84 Principal and/or interest deferred 12 26 18 26 18 26 Principal forgiveness 9 5 27 29 16 16 Other (b) 1 — 14 11 11 5 (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 above 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, (in millions, except weighted-average data and number of loans) Home equity Residential mortgage Total residential real estate – excluding PCI 2016 2015 2016 2015 2016 2015 Weighted-average interest rate of loans with interest rate reductions – before TDR 4.99 % 5.20 % 5.76 % 5.76 % 5.47 % 5.57 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.28 2.33 2.99 2.81 2.73 2.65 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 19 17 24 25 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 33 38 37 38 36 Charge-offs recognized upon permanent modification $ — $ 1 $ 1 $ 4 $ 1 $ 5 Principal deferred 6 7 7 13 13 20 Principal forgiven 1 — 12 19 13 19 Balance of loans that redefaulted within one year of permanent modification (a) $ 13 $ 5 $ 29 $ 38 $ 42 $ 43 Nine months ended September 30, Home equity Residential mortgage Total residential real estate – excluding PCI 2016 2015 2016 2015 2016 2015 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.08 % 5.24 % 5.66 % 5.74 % 5.43 % 5.57 % Weighted-average interest rate of loans with interest rate reductions – after TDR 2.40 2.41 2.94 2.76 2.73 2.65 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 18 18 25 25 22 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 33 38 37 38 36 Charge-offs recognized upon permanent modification $ 1 $ 3 $ 3 $ 9 $ 4 $ 12 Principal deferred 18 20 26 45 44 65 Principal forgiven 5 2 37 52 42 54 Balance of loans that redefaulted within one year of permanent modification (a) $ 31 $ 14 $ 72 $ 102 $ 103 $ 116 (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. 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 Weighted-average interest rate of loans – before TDR 15.60 % 15.09 % 15.56 % 15.13 % Weighted-average interest rate of loans – after TDR 4.66 4.35 4.76 4.30 Loans that redefaulted within one year of modification (a) $ 20 $ 23 $ 57 $ 65 (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. |
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, 2016 and 2015 , 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, 2016 2015 2016 2015 Beginning balance $ 12,301 $ 13,741 $ 13,491 $ 14,592 Accretion into interest income (382 ) (424 ) (1,184 ) (1,290 ) Changes in interest rates on variable-rate loans 42 3 143 21 Other changes in expected cash flows (a) 291 511 (198 ) 508 Reclassification from nonaccretable difference (b) — 90 — 90 Balance at September 30 $ 12,252 $ 13,921 $ 12,252 $ 13,921 Accretable yield percentage 4.33 % 4.22 % 4.35 % 4.18 % (a) Other changes in expected cash flows may vary from period to period as the Firm continues to refine its cash flow model, for example cash flows expected to be collected due to the impact of modifications and 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. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Allowance for Credit Losses [Abstract] | |
Allowance for credit losses on financing receivables | The table below summarizes information about the allowances for loan losses and lending-related commitments, and includes a breakdown of loans and lending-related commitments by impairment methodology. 2016 2015 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, $ 5,806 $ 3,434 $ 4,315 $ 13,555 7,050 $ 3,439 $ 3,696 $ 14,185 Gross charge-offs 1,071 2,803 291 4,165 1,269 2,626 46 3,941 Gross recoveries (448 ) (275 ) (30 ) (753 ) (577 ) (278 ) (64 ) (919 ) Net charge-offs/(recoveries) 623 2,528 261 3,412 692 2,348 (18 ) 3,022 Write-offs of PCI loans (a) 124 — — 124 162 — — 162 Provision for loan losses 578 2,978 628 4,184 (346 ) 2,348 461 2,463 Other — — 1 1 (1 ) (5 ) 8 2 Ending balance at September 30, $ 5,637 $ 3,884 $ 4,683 $ 14,204 $ 5,849 $ 3,434 $ 4,183 $ 13,466 Allowance for loan losses by impairment methodology Asset-specific (b) $ 352 $ 363 (c) $ 490 $ 1,205 $ 359 $ 485 (c) $ 281 $ 1,125 Formula-based 2,667 3,521 4,193 10,381 2,702 2,949 3,902 9,553 PCI 2,618 — — 2,618 2,788 — — 2,788 Total allowance for loan losses $ 5,637 $ 3,884 $ 4,683 $ 14,204 $ 5,849 $ 3,434 $ 4,183 $ 13,466 Loans by impairment methodology Asset-specific $ 9,145 $ 1,264 $ 2,233 $ 12,642 $ 9,817 $ 1,563 $ 1,121 $ 12,501 Formula-based 317,208 132,082 384,213 833,503 279,679 124,071 345,802 749,552 PCI 37,045 — 3 37,048 42,236 — 4 42,240 Total retained loans $ 363,398 $ 133,346 $ 386,449 $ 883,193 $ 331,732 $ 125,634 $ 346,927 $ 804,293 Impaired collateral-dependent loans Net charge-offs $ 63 $ — $ 7 $ 70 $ 84 $ — $ 2 $ 86 Loans measured at fair value of collateral less cost to sell 2,371 — 346 2,717 2,653 — 325 2,978 Allowance for lending-related commitments Beginning balance at January 1, $ 14 $ — $ 772 $ 786 $ 13 $ — $ 609 $ 622 Provision for lending-related commitments — — 313 313 1 — 112 113 Other — — 1 1 — — — — Ending balance at September 30, $ 14 $ — $ 1,086 $ 1,100 $ 14 $ — $ 721 $ 735 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 162 $ 162 $ — $ — $ 69 $ 69 Formula-based 14 — 924 938 14 — 652 666 Total allowance for lending-related commitments $ 14 $ — $ 1,086 $ 1,100 $ 14 $ — $ 721 $ 735 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 503 $ 503 $ — $ — $ 176 $ 176 Formula-based 59,990 549,634 368,484 978,108 60,005 526,433 354,172 940,610 Total lending-related commitments $ 59,990 $ 549,634 $ 368,987 $ 978,611 $ 60,005 $ 526,433 $ 354,348 $ 940,786 (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, 2016 | |
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 142 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 142 – 144 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and student loans 142 – 144 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 144 Municipal bond vehicles 144–145 |
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 147 of this Note for further information regarding the Firm’s cash flows with and interests retained in nonconsolidated VIEs, and page 147 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, 2016 (in millions) 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 (a) Residential mortgage: Prime/Alt-A and option ARMs $ 80,226 $ 4,749 $ 59,790 $ 204 $ 1,444 $ 1,648 Subprime 22,300 5 20,594 78 — 78 Commercial and other (b) 107,288 107 73,454 612 1,945 2,557 Total $ 209,814 $ 4,861 $ 153,838 $ 894 $ 3,389 $ 4,283 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2015 (in millions) 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 (a) Residential mortgage: Prime/Alt-A and option ARMs $ 85,687 $ 1,400 $ 66,708 $ 394 $ 1,619 $ 2,013 Subprime 24,389 64 22,549 109 — 109 Commercial and other (b) 123,474 107 80,319 447 3,451 3,898 Total $ 233,550 $ 1,571 $ 169,576 $ 950 $ 5,070 $ 6,020 (a) Excludes U.S. government agency securitizations and re-securitizations, which are not Firm-sponsored. See page 147 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) 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 $34 million and $48 million , respectively, at September 30, 2016 , and $163 million and $73 million , respectively, at December 31, 2015 , 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, 2016 , and December 31, 2015 , 65% and 76% , 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 $1.6 billion and $1.9 billion of investment-grade and $68 million and $93 million of noninvestment-grade retained interests at September 30, 2016 , and December 31, 2015 , respectively. The retained interests in commercial and other securitizations trusts consisted of $2.3 billion and $3.7 billion of investment-grade and $253 million and $198 million of noninvestment-grade retained interests at September 30, 2016 , and December 31, 2015 , respectively. |
Firm's exposure to nonconsolidated municipal bond VIEs | The Firm’s exposure to nonconsolidated municipal bond VIEs at September 30, 2016 , and December 31, 2015 , including the ratings profile of the VIEs’ assets, was as follows. (in millions) Fair value of assets held by VIEs Liquidity facilities Excess/(deficit) (a) Maximum exposure Nonconsolidated municipal bond vehicles September 30, 2016 $ 1,916 $ 1,136 $ 780 $ 1,136 December 31, 2015 6,937 3,794 3,143 3,794 |
Ratings profile of the VIEs' assets | Ratings profile of VIE assets (b) Fair value of assets held by VIEs Wt. avg. expected life of assets (years) Investment-grade (in millions, except where otherwise noted) AAA to AAA- AA+ to AA- A+ to A- BBB+ to BBB- Unrated (c) September 30, 2016 $ 474 $ 1,195 $ 108 $ 24 $ 115 $ 1,916 3.7 December 31, 2015 1,743 4,631 448 24 91 6,937 4.0 (a) Represents the excess of the fair values of municipal bond assets available to repay the liquidity facilities, if drawn. (b) The ratings scale is presented on an S&P-equivalent basis. (c) These security positions have been defeased by the municipality and no longer carry credit ratings, but are backed by high quality assets such as U.S. treasuries and cash. |
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, 2016 , and December 31, 2015 . Assets Liabilities September 30, 2016 (in millions) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type (a) Firm-sponsored credit card trusts $ — $ 45,011 $ 798 $ 45,809 $ 33,424 $ 18 $ 33,442 Firm-administered multi-seller conduits — 24,833 42 24,875 3,659 31 3,690 Municipal bond vehicles 2,915 — 9 2,924 2,962 2 2,964 Mortgage securitization entities (b) 73 4,742 162 4,977 417 563 980 Student loan securitization entities — 1,747 55 1,802 1,583 5 1,588 Other 181 — 2,371 2,552 188 119 307 Total $ 3,169 $ 76,333 $ 3,437 $ 82,939 $ 42,233 $ 738 $ 42,971 Assets Liabilities December 31, 2015 (in millions) Trading assets Loans Other (c) Total assets (d) Beneficial interests in VIE assets (e) Other (f) Total liabilities VIE program type (a) Firm-sponsored credit card trusts $ — $ 47,358 $ 718 $ 48,076 $ 27,906 $ 15 $ 27,921 Firm-administered multi-seller conduits — 24,388 37 24,425 8,724 19 8,743 Municipal bond vehicles 2,686 — 5 2,691 2,597 1 2,598 Mortgage securitization entities (b) 840 1,433 27 2,300 777 643 1,420 Student loan securitization entities — 1,925 62 1,987 1,760 5 1,765 Other 210 — 1,916 2,126 115 126 241 Total $ 3,736 $ 75,104 $ 2,765 $ 81,605 $ 41,879 $ 809 $ 42,688 (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 and other assets on 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 VIEs.” 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 $35.6 billion and $30.6 billion at September 30, 2016 , and December 31, 2015 , respectively. The maturities of the long-term beneficial interests as of September 30, 2016 , were as follows: $11.6 billion under one year, $21.3 billion between one and five years, and $2.7 billion over five years. (f) Includes liabilities classified as accounts payable and other liabilities on 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, 2016 and 2015 , 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, 2016 2015 2016 2015 (in millions) 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 $ 698 $ 3,428 $ 971 $ 2,982 $ 1,111 $ 5,786 $ 2,663 $ 9,033 All cash flows during the period: (a) Proceeds from new securitizations (b) $ 709 $ 3,551 $ 972 $ 2,995 $ 1,122 $ 5,924 $ 2,674 $ 9,053 Servicing fees collected 111 1 129 — 334 2 409 2 Purchases of previously transferred financial assets (or the underlying collateral) (c) — — 1 — 37 — 2 — Cash flows received on interests 121 535 122 172 326 1,115 308 379 (a) Excludes re-securitization transactions. (b) For the three and nine months ended September 30, 2016 , $709 million and $1.1 billion , respectively, of proceeds from residential mortgage securitizations were received as securities classified in level 2 of the fair value hierarchy. For the three and nine months ended September 30, 2016 , $3.6 billion and $5.9 billion , respectively, of proceeds from commercial mortgage securitizations were received as securities classified in level 2, and $0 million and $2 million , respectively, of proceeds were classified as level 3 of the fair value hierarchy. 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 for both periods $59 million of proceeds were classified as level 3 of the fair value hierarchy, respectively. 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 were classified as level 3 of the fair value hierarchy, and no proceeds from commercial mortgage securitization were received as cash. All loans transferred into securitization vehicles during the three and nine months ended September 30, 2016 and 2015, were classified as trading assets; and changes in fair value were recorded in principal transactions revenue. The Firm elected the fair value option for loans pending securitization. The carrying value of these loans accounted for at fair value approximated the proceeds received from securitization. (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 mortgage and student loan securitizations. |
Summary of loan sale activities | The following table summarizes the activities related to loans sold to the U.S. 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) 2016 2015 2016 2015 Carrying value of loans sold $ 14,811 $ 11,394 $ 32,647 $ 34,193 Proceeds received from loan sales as cash 68 139 306 238 Proceeds received from loans sales as securities (a) 14,610 11,170 32,113 33,758 Total proceeds received from loan sales (b) $ 14,678 $ 11,309 $ 32,419 $ 33,996 Gains on loan sales (c) $ 50 $ 61 $ 164 $ 238 (a) Predominantly i ncludes securities from U.S. GSEs and Ginnie Mae that are generally sold shortly after receipt. (b) Excludes the value of MSRs retained upon the sale of loans. Gains on loan sales include the value of MSRs. (c) The carrying value of the loans accounted for at fair value approximated the proceeds received upon loan sale. |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets | The table below includes information about components of nonconsolidated securitized financial assets, in which the Firm has continuing involvement, and delinquencies as of September 30, 2016 , and December 31, 2015 . 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, 2016 2015 2016 2015 Securitized loans (a) Residential mortgage: Prime / Alt-A & option ARMs $ 59,790 $ 66,708 $ 6,509 $ 8,325 $ 275 $ 486 $ 933 $ 1,402 Subprime 20,594 22,549 4,379 5,448 280 380 898 1,105 Commercial and other 73,454 80,319 1,324 1,808 78 211 564 350 Total loans securitized $ 153,838 $ 169,576 $ 12,212 $ 15,581 $ 633 $ 1,077 $ 2,395 $ 2,857 (a) Total assets held in securitization-related SPEs were $209.8 billion and $233.6 billion , respectively, at September 30, 2016 , and December 31, 2015 . The $153.8 billion and $169.6 billion , respectively, of loans securitized at September 30, 2016 , and December 31, 2015 , excluded: $51.1 billion and $62.4 billion , respectively, of securitized loans in which the Firm has no continuing involvement, and $4.9 billion and $1.6 billion , respectively, of loan securitizations consolidated on the Firm’s Consolidated balance sheets at September 30, 2016 , and December 31, 2015 . |
Goodwill and Other Intangible47
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill attributed to the business segments | The following table presents goodwill attributed to the business segments. (in millions) September 30, December 31, Consumer & Community Banking $ 30,806 $ 30,769 Corporate & Investment Bank 6,775 6,772 Commercial Banking 2,861 2,861 Asset Management 6,860 6,923 Total goodwill $ 47,302 $ 47,325 The following table presents changes in the carrying amount of goodwill. Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 Balance at beginning of period $ 47,303 $ 47,476 $ 47,325 $ 47,647 Changes during the period from: Business combinations — 8 — 25 Dispositions (a) — — (71 ) (101 ) Other (b) (1 ) (79 ) 48 (166 ) Balance at September 30, $ 47,302 $ 47,405 $ 47,302 $ 47,405 (a) During the nine months ended September 30, 2016 , represents AM goodwill, which was disposed of as part of AM sales completed in March 2016. During the nine months ended September 30, 2015, represents Private Equity goodwill, which was disposed of as part of a Private Equity sale completed in January 2015. (b) Includes foreign currency translation adjustments and other tax-related adjustments. |
Mortgage servicing rights activity | The following table summarizes MSR activity for the three and nine months ended September 30, 2016 and 2015 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2016 2015 2016 2015 Fair value at beginning of period $ 5,072 $ 7,571 $ 6,608 $ 7,436 MSR activity: Originations of MSRs 190 147 410 447 Purchase of MSRs — (4 ) — 435 Disposition of MSRs (a) (5 ) — (72 ) (375 ) Net additions 185 143 338 507 Changes due to collection/realization of expected cash flows (233 ) (233 ) (713 ) (677 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (b) (35 ) (677 ) (1,230 ) (338 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) (21 ) (76 ) (28 ) (103 ) Discount rates — — 7 (10 ) Prepayment model changes and other (c) (31 ) (12 ) (45 ) (99 ) Total changes in valuation due to other inputs and assumptions (52 ) (88 ) (66 ) (212 ) Total changes in valuation due to inputs and assumptions (87 ) (765 ) (1,296 ) (550 ) Fair value at September 30, $ 4,937 $ 6,716 $ 4,937 $ 6,716 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ (87 ) $ (765 ) $ (1,296 ) $ (550 ) Contractual service fees, late fees and other ancillary fees included in income 523 634 1,629 1,945 Third-party mortgage loans serviced at September 30, (in billions) 611 706 611 706 Net servicer advances at September 30, (in billions) (d) 5.0 6.6 5.0 6.6 (a) For the nine months ended September 30, 2016 , 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, 2016 and nine months ended September 30, 2016 and 2015 . (b) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (c) Represents changes in prepayments other than those attributable to changes in market interest rates. (d) 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. |
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, 2016 and 2015 . Three months ended September 30, Nine months ended September 30, (in millions) 2016 2015 2016 2015 CCB mortgage fees and related income Net production revenue $ 247 $ 176 $ 670 $ 646 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 571 648 1,780 2,104 Changes in MSR asset fair value due to collection/realization of expected cash flows (232 ) (232 ) (710 ) (674 ) Total operating revenue 339 416 1,070 1,430 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) (35 ) (677 ) (1,230 ) (338 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (52 ) (88 ) (66 ) (212 ) Change in derivative fair value and other 125 642 1,536 429 Total risk management 38 (123 ) 240 (121 ) Total net mortgage servicing revenue 377 293 1,310 1,309 Total CCB mortgage fees and related income 624 469 1,980 1,955 All other — — — 2 Mortgage fees and related income $ 624 $ 469 $ 1,980 $ 1,957 (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, 2016 , and December 31, 2015 , 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”) 14.43 % 9.81 % Impact on fair value of 10% adverse change $ (262 ) $ (275 ) Impact on fair value of 20% adverse change (500 ) (529 ) Weighted-average option adjusted spread 9.87 % 9.54 % Impact on fair value of a 100 basis point adverse change $ (177 ) $ (258 ) Impact on fair value of a 200 basis point adverse change (340 ) (498 ) CPR: Constant prepayment rate |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Deposits [Abstract] | |
Noninterest-bearing and interest-bearing deposits | At September 30, 2016 , and December 31, 2015 , noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, December 31, 2015 U.S. offices Noninterest-bearing $ 409,912 $ 392,721 Interest-bearing (included $11,624 and $10,916 at fair value) (a) 722,294 663,004 Total deposits in U.S. offices 1,132,206 1,055,725 Non-U.S. offices Noninterest-bearing 19,397 18,921 Interest-bearing (included $1,367 and $1,600 at fair value) (a) 224,535 205,069 Total deposits in non-U.S. offices 243,932 223,990 Total deposits $ 1,376,138 $ 1,279,715 (a) 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 2015 Annual Report . |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015 . (in millions, except per share amounts) Three months ended Nine months ended 2016 2015 2016 2015 Basic earnings per share Net income $ 6,286 $ 6,804 $ 18,006 $ 19,008 Less: Preferred stock dividends 412 393 1,235 1,097 Net income applicable to common equity 5,874 6,411 16,771 17,911 Less: Dividends and undistributed earnings allocated to participating securities 127 141 368 413 Net income applicable to common stockholders $ 5,747 $ 6,270 $ 16,403 $ 17,498 Total weighted-average basic shares outstanding 3,597.4 3,694.4 3,634.4 3,709.2 Net income per share $ 1.60 $ 1.70 $ 4.51 $ 4.72 Diluted earnings per share Net income applicable to common stockholders $ 5,747 $ 6,270 $ 16,403 $ 17,498 Total weighted-average basic shares outstanding 3,597.4 3,694.4 3,634.4 3,709.2 Add: Employee stock options, SARs, warrants and PSUs 32.2 31.2 29.9 33.0 Total weighted-average diluted shares outstanding (a) 3,629.6 3,725.6 3,664.3 3,742.2 Net income per share $ 1.58 $ 1.68 $ 4.48 $ 4.68 (a) 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, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated other comprehensive income/(loss) | Effective January 1, 2016, the Firm adopted new accounting guidance related to the recognition and measurement of financial liabilities where the fair value option has been elected. This guidance requires the portion of the total change in fair value caused by changes in the Firm’s own credit risk (DVA) to be presented separately in OCI; previously these amounts were recognized in net income. The guidance was required to be applied as of the beginning of the fiscal year of adoption by means of a cumulative effect adjustment to the Consolidated balance sheets, which resulted in a reclassification from retained earnings to AOCI. As of or for the three months ended (in millions) Unrealized gains/(losses) on investment securities (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and OPEB plans DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2016 $ 3,921 $ (161 ) $ (201 ) $ (2,150 ) $ 209 $ 1,618 Net change (160 ) 4 36 42 (66 ) (144 ) Balance at September 30, 2016 $ 3,761 $ (157 ) $ (165 ) $ (2,108 ) $ 143 $ 1,474 As of or for the three months ended (in millions) Unrealized gains/(losses) on investment securities (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and OPEB plans DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2015 $ 3,443 $ (154 ) $ 62 $ (2,249 ) NA $ 1,102 Net change (291 ) (5 ) (106 ) 51 NA (351 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) NA $ 751 As of or for the nine months ended (in millions) Unrealized (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2016 $ 2,629 $ (162 ) $ (44 ) $ (2,231 ) NA $ 192 Cumulative effect of change in accounting principle — — — — 154 154 Net change 1,132 5 (121 ) 123 (11 ) 1,128 Balance at September 30, 2016 $ 3,761 $ (157 ) $ (165 ) $ (2,108 ) $ 143 $ 1,474 As of or for the nine months ended (in millions) Unrealized (a) Translation adjustments, net of hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2015 $ 4,773 $ (147 ) $ (95 ) $ (2,342 ) NA $ 2,189 Net change (1,621 ) (12 ) 51 144 NA (1,438 ) Balance at September 30, 2015 $ 3,152 $ (159 ) $ (44 ) $ (2,198 ) NA $ 751 (a) Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS, including net unamortized unrealized gains and losses related to AFS securities transferred to HTM. |
Changes of the components of accumulated other comprehensive income (loss) | The following table presents the pre-tax and after-tax changes in the components of OCI. 2016 2015 Three months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (192 ) $ 72 $ (120 ) $ (430 ) $ 160 $ (270 ) Reclassification adjustment for realized (gains)/losses included in net income (a) (64 ) 24 (40 ) (33 ) 12 (21 ) Net change (256 ) 96 (160 ) (463 ) 172 (291 ) Translation adjustments (b) : Translation 34 (12 ) 22 (912 ) 340 (572 ) Hedges (30 ) 12 (18 ) 908 (341 ) 567 Net change 4 — 4 (4 ) (1 ) (5 ) Cash flow hedges: Net unrealized gains/(losses) arising during the period (64 ) 23 (41 ) (175 ) 66 (109 ) Reclassification adjustment for realized (gains)/losses included in net income (c) 122 (45 ) 77 5 (2 ) 3 Net change 58 (22 ) 36 (170 ) 64 (106 ) Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — — — — Reclassification adjustments included in net income (d) : Amortization of net loss 65 (24 ) 41 71 (27 ) 44 Prior service costs/(credits) (9 ) 3 (6 ) (9 ) 3 (6 ) Foreign exchange and other 12 (5 ) 7 20 (7 ) 13 Net change 68 (26 ) 42 82 (31 ) 51 DVA on fair value option elected liabilities, net change: (106 ) 40 (66 ) NA NA NA Total other comprehensive income/(loss) $ (232 ) $ 88 $ (144 ) $ (555 ) $ 204 $ (351 ) 2016 2015 Nine months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ 1,948 $ (731 ) $ 1,217 $ (2,548 ) $ 1,008 $ (1,540 ) Reclassification adjustment for realized (gains)/losses included in (a) (136 ) 51 (85 ) (129 ) 48 (81 ) Net change 1,812 (680 ) 1,132 (2,677 ) 1,056 (1,621 ) Translation adjustments: Translation (b) 613 (228 ) 385 (1,645 ) 601 (1,044 ) Hedges (b) (603 ) 223 (380 ) 1,651 (619 ) 1,032 Net change 10 (5 ) 5 6 (18 ) (12 ) Cash flow hedges: Net unrealized gains/(losses) arising during the period (418 ) 156 (262 ) (104 ) 38 (66 ) Reclassification adjustment for realized (gains)/losses included in (c)(e) 225 (84 ) 141 187 (70 ) 117 Net change (193 ) 72 (121 ) 83 (32 ) 51 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period (15 ) 6 (9 ) 101 (39 ) 62 Reclassification adjustments included in net income (d) : Amortization of net loss 193 (73 ) 120 212 (80 ) 132 Prior service costs/(credits) (27 ) 10 (17 ) (27 ) 10 (17 ) Foreign exchange and other 46 (17 ) 29 20 (53 ) (33 ) Net change 197 (74 ) 123 306 (162 ) 144 DVA on fair value option elected liabilities, net change: $ (18 ) $ 7 (11 ) NA NA NA Total other comprehensive income/(loss) $ 1,808 $ (680 ) $ 1,128 $ (2,282 ) $ 844 $ (1,438 ) (a) The pre-tax amount is reported in securities gains in the Consolidated statements of income. (b) Reclassifications of pre-tax 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 pre-tax amounts are predominantly recorded in net interest income in the Consolidated statements of income. (d) In 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 . (e) The pre-tax amount is reported in compensation expense in the Consolidated statements of income. |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 . Minimum capital ratios Well-capitalized ratios BHC (a) IDI (b) BHC (c) IDI (d) Capital ratios CET1 6.25 % 5.125 % — % 6.5 % Tier 1 7.75 6.625 6.0 8.0 Total 9.75 8.625 10.0 10.0 Tier 1 leverage 4.0 4.0 — 5.0 Note: The table above is 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. (a) Represents the transitional minimum capital ratios applicable to the Firm under Basel III at September 30, 2016 . Commencing in the first quarter of 2016, the CET1 minimum capital ratio includes 0.625% resulting from the phase in of the Firm’s 2.5% capital conservation buffer and 1.125% , resulting from the phase in of the Firm’s estimated 4.5% GSIB surcharge as of December 31, 2014 published by the Federal Reserve on July 20, 2015. (b) Represents requirements for JPMorgan Chase ’s banking subsidiaries. The CET1 minimum capital ratio includes 0.625% resulting from the phase in of the 2.5% capital conservation buffer that is applicable to the banking subsidiaries. The banking subsidiaries are not subject to the GSIB surcharge. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. (d) Represents requirements for bank subsidiaries pursuant to regulations issued under the FDIC Improvement Act. 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 $ 181,606 $ 175,398 $ 181,606 $ 175,398 Tier 1 capital (a) 206,430 200,482 206,430 200,482 Total capital 241,004 234,413 229,324 224,616 Assets Risk-weighted 1,480,291 1,465,262 1,515,177 1,485,336 Adjusted average (b) 2,427,423 2,358,471 2,427,423 2,358,471 Capital ratios (c) CET1 12.3 % 12.0 % 12.0 % 11.8 % Tier 1 (a) 13.9 13.7 13.6 13.5 Total 16.3 16.0 15.1 15.1 Tier 1 leverage (d) 8.5 8.5 8.5 8.5 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 $ 176,083 $ 168,857 $ 176,083 $ 168,857 Tier 1 capital (a) 176,375 169,222 176,375 169,222 Total capital 190,955 183,262 182,984 176,423 Assets Risk-weighted 1,319,671 1,264,056 1,302,659 1,249,607 Adjusted (b) 2,041,246 1,910,934 2,041,246 1,910,934 Capital ratios (c) CET1 13.3 % 13.4 % 13.5 % 13.5 % Tier 1 (a) 13.4 13.4 13.5 13.5 Total 14.5 14.5 14.0 14.1 Tier 1 leverage (d) 8.6 8.9 8.6 8.9 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 $ 16,597 $ 15,419 $ 16,597 $ 15,419 Tier 1 capital (a) 16,597 15,419 16,597 15,419 Total capital 22,602 21,418 21,247 20,069 Assets Risk-weighted 106,507 105,807 184,858 181,775 Adjusted (b) 121,335 134,152 121,335 134,152 Capital ratios (c) CET1 15.6 % 14.6 % 9.0 % 8.5 % Tier 1 (a) 15.6 14.6 9.0 8.5 Total 21.2 20.2 11.5 11.0 Tier 1 leverage (d) 13.7 11.5 13.7 11.5 (a) Includes the deduction associated with the permissible holdings of covered funds (as defined by the Volcker Rule) acquired after December 31, 2013 which was not material as of September 30, 2016 . (b) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for unrealized gains/(losses) on AFS securities, less deductions for goodwill and other intangible assets, defined benefit pension plan assets, and deferred tax assets related to NOL and tax credit carryforwards. (c) For each of the risk-based capital ratios, the capital adequacy of the Firm and its national bank subsidiaries is evaluated against the Basel III approach, Standardized or Advanced, which results in the lower ratio (the “Collins Floor”), as required by the Collins Amendment of the Dodd-Frank Act. (d) The Tier 1 leverage ratio is not a risk-based measure of capital. This ratio is calculated by dividing Tier 1 capital by adjusted average assets. (e) Asset and capital amounts for JPMorgan Chase ’s banking subsidiaries reflect intercompany transactions; whereas the respective amounts for JPMorgan Chase reflect the elimination of intercompany transactions. |
Off-balance Sheet Lending-rel52
Off-balance Sheet Lending-related Financial Instruments, Guarantees and Other Commitments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 Firm may reduce or close HELOCs 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 (h) September 30, 2016 Dec 31, Sep 30, Dec 31, By remaining maturity Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity $ 4,272 $ 4,628 $ 1,038 $ 11,874 $ 21,812 $ 22,756 $ — $ — Residential mortgage (a) 14,896 — — — 14,896 12,992 — — Auto 9,538 500 160 1 10,199 10,237 2 2 Business banking 11,653 676 131 479 12,939 12,351 12 12 Student and other 107 — — 37 144 142 — — Total consumer, excluding credit card $ 40,466 $ 5,804 $ 1,329 $ 12,391 $ 59,990 $ 58,478 $ 14 $ 14 Credit card $ 549,634 $ — $ — $ — $ 549,634 $ 515,518 $ — $ — Total consumer (b) $ 590,100 $ 5,804 $ 1,329 $ 12,391 $ 609,624 $ 573,996 $ 14 $ 14 Wholesale: Other unfunded commitments to extend credit (c)(d) $ 67,028 $ 113,031 $ 142,917 $ 6,617 $ 329,593 $ 323,325 $ 938 $ 649 Standby letters of credit and other financial guarantees (c)(d) 16,571 11,482 7,148 1,046 36,247 39,133 573 548 Other letters of credit (c) 2,955 155 37 — 3,147 3,941 1 2 Total wholesale (e) $ 86,554 $ 124,668 $ 150,102 $ 7,663 $ 368,987 $ 366,399 $ 1,512 $ 1,199 Total lending-related $ 676,654 $ 130,472 $ 151,431 $ 20,054 $ 978,611 $ 940,395 $ 1,526 $ 1,213 Other guarantees and commitments Securities lending indemnification agreements and guarantees (f) $ 163,855 $ — $ — $ — $ 163,855 $ 183,329 $ — $ — Derivatives qualifying as guarantees 2,900 724 10,922 39,360 53,906 53,784 230 222 Unsettled reverse repurchase and securities borrowing agreements 76,810 — — — 76,810 42,482 — — Unsettled repurchase and securities lending agreements 54,023 — — — 54,023 21,798 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 136 148 Loans sold with recourse NA NA NA NA 3,303 4,274 66 82 Other guarantees and commitments (g) 954 2,662 1,033 1,553 6,202 5,580 (72 ) (94 ) (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, 2016 , and December 31, 2015 , reflected the contractual amount net of risk participations totaling $345 million and $385 million , respectively, for other unfunded commitments to extend credit; $10.6 billion and $11.2 billion , respectively, for standby letters of credit and other financial guarantees; and $320 million and $341 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, 2016 , and December 31, 2015 , included credit enhancements and bond and commercial paper liquidity commitments to U.S. states and municipalities, hospitals and other non-profit entities of $10.3 billion and $12.3 billion , respectively, within other unfunded commitments to extend credit; and $7.4 billion and $9.6 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; see Note 15 . (e) At September 30, 2016 , and December 31, 2015 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 75% and 77% , respectively. (f) At September 30, 2016 , and December 31, 2015 , collateral held by the Firm in support of securities lending indemnification agreements was $170.3 billion and $190.6 billion , respectively. Securities lending collateral consists of primarily cash and securities issued by governments that are members of the Organisation for Economic Co-operation and Development and U.S. government agencies. (g) At September 30, 2016 , and December 31, 2015 , included unfunded commitments of $49 million and $50 million , respectively, to third-party private equity funds; and $1.4 billion and $871 million , at September 30, 2016 , and December 31, 2015 , respectively, to other equity investments. These commitments included $67 million and $73 million , respectively, related to investments that are generally fair valued at net asset value as discussed in Note 3 . In addition, at September 30, 2016 , and December 31, 2015 , included letters of credit hedged by derivative transactions and managed on a market risk basis of $4.7 billion and $4.6 billion , respectively. (h) 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 standby letters of credit and other letters of credit arrangements as of September 30, 2016 , and December 31, 2015 . Standby letters of credit, other financial guarantees and other letters of credit September 30, 2016 December 31, 2015 (in millions) Standby letters of Other letters of credit Standby letters of Other letters of credit Investment-grade (a) $ 28,388 $ 2,497 $ 31,751 $ 3,290 Noninvestment-grade (a) 7,859 650 7,382 651 Total contractual amount $ 36,247 $ 3,147 $ 39,133 $ 3,941 Allowance for lending-related commitments $ 147 $ 1 $ 121 $ 2 Guarantee liability 426 — 427 — Total carrying value $ 573 $ 1 $ 548 $ 2 Commitments with collateral $ 20,359 $ 580 $ 18,825 $ 996 (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. |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment results and reconciliation | Segment results and reconciliation (a) As of or for the three months ended September 30, Consumer & Corporate & Commercial Banking Asset Management 2016 2015 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 3,868 $ 3,729 $ 6,690 $ 5,748 $ 578 $ 522 $ 2,277 $ 2,261 Net interest income 7,460 7,150 2,765 2,420 1,292 1,122 770 633 Total net revenue 11,328 10,879 9,455 8,168 1,870 1,644 3,047 2,894 Provision for credit losses 1,294 389 67 232 (121 ) 82 32 (17 ) Noninterest expense 6,510 6,237 4,934 6,131 746 719 2,130 2,109 Income before income tax expense 3,524 4,253 4,454 1,805 1,245 843 885 802 Income tax expense 1,320 1,623 1,542 341 467 325 328 327 Net income $ 2,204 $ 2,630 $ 2,912 $ 1,464 $ 778 $ 518 $ 557 $ 475 Average common equity $ 51,000 $ 51,000 $ 64,000 $ 62,000 $ 16,000 $ 14,000 $ 9,000 $ 9,000 Total assets 521,276 484,253 825,933 801,133 212,189 201,157 137,295 131,412 Return on common equity 16% 20% 17% 8% 18% 14% 24% 20% Overhead ratio 57 57 52 75 40 44 70 73 As of or for the three months ended September 30, Corporate Reconciling Items (a) Total 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 197 $ 73 $ (540 ) $ (477 ) $ 13,070 $ 11,856 Net interest income (385 ) (123 ) (299 ) $ (278 ) 11,603 10,924 Total net revenue (188 ) (50 ) (839 ) $ (755 ) 24,673 22,780 Provision for credit losses (1 ) (4 ) — — 1,271 682 Noninterest expense 143 172 — — 14,463 15,368 Income/(loss) before income tax expense/(benefit) (330 ) (218 ) (839 ) (755 ) 8,939 6,730 Income tax expense/(benefit) (165 ) (1,935 ) (839 ) (755 ) 2,653 (74 ) Net income/(loss) $ (165 ) $ 1,717 $ — $ — $ 6,286 $ 6,804 Average common equity $ 86,089 $ 81,023 $ — $ — $ 226,089 $ 217,023 Total assets 824,336 798,680 NA NA 2,521,029 2,416,635 Return on common equity NM NM NM NM 10 % 12 % Overhead ratio NM NM NM NM 59 67 Segment results and reconciliation (a) As of or for the nine months ended September 30, Consumer & Corporate & Commercial Banking Asset Management 2016 2015 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 11,812 $ 11,554 $ 18,699 $ 19,055 $ 1,720 $ 1,767 $ 6,714 $ 7,189 Net interest income 22,084 21,044 8,056 7,418 3,770 3,358 2,244 1,885 Total net revenue 33,896 32,598 26,755 26,473 5,490 5,125 8,958 9,074 Provision for credit losses 3,545 2,021 761 251 158 325 37 (13 ) Noninterest expense 18,602 18,637 14,820 16,925 2,190 2,131 6,303 6,690 Income before income tax expense 11,749 11,940 11,174 9,297 3,142 2,669 2,618 2,397 Income tax expense 4,399 4,558 3,790 2,955 1,172 1,028 953 969 Net income $ 7,350 $ 7,382 $ 7,384 $ 6,342 $ 1,970 $ 1,641 $ 1,665 $ 1,428 Average common equity $ 51,000 $ 51,000 $ 64,000 $ 62,000 $ 16,000 $ 14,000 $ 9,000 $ 9,000 Total assets 521,276 484,253 825,933 801,133 212,189 201,157 137,295 131,412 Return on common equity 18% 18 % 14% 13 % 15% 15 % 24% 20 % Overhead ratio 55 57 55 64 40 42 70 74 As of or for the nine months ended September 30, Corporate Reconciling Items (a) Total 2016 2015 2016 2015 2016 2015 Noninterest revenue $ 637 $ 213 $ (1,620 ) $ (1,405 ) $ 37,962 $ 38,373 Net interest income (927 ) (597 ) (897 ) (823 ) 34,330 32,285 Total net revenue (290 ) (384 ) (2,517 ) (2,228 ) 72,292 70,658 Provision for credit losses (4 ) (8 ) — — 4,497 2,576 Noninterest expense 23 368 — — 41,938 44,751 Income/(loss) before income tax expense/(benefit) (309 ) (744 ) (2,517 ) (2,228 ) 25,857 23,331 Income tax expense/(benefit) 54 (2,959 ) (2,517 ) (2,228 ) 7,851 4,323 Net income/(loss) $ (363 ) $ 2,215 $ — $ — $ 18,006 $ 19,008 Average common equity $ 84,034 $ 78,389 $ — $ — $ 224,034 $ 214,389 Total assets 824,336 798,680 NA NA 2,521,029 2,416,635 Return on common equity NM NM NM NM 10% 11 % Overhead ratio NM NM NM NM 58 63 (a) 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. |
Business Changes and Developm54
Business Changes and Developments (Details) - USD ($) $ / shares in Units, $ in Billions | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Oct. 31, 2016 | |
Business Changes [Abstract] | |||||
Quarterly common stock dividend (in dollars per share) | $ 0.48 | $ 0.44 | $ 1.40 | $ 1.28 | |
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Amount of trust preferred securities issued by trust | $ 3.2 |
Fair Value Measurement - Recurr
Fair Value Measurement - Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | $ 1,103,598 | $ 961,878 | ||||
Derivative netting adjustments | (1,038,019) | (902,201) | ||||
Derivative receivables balance | 65,579 | 59,677 | ||||
Trading assets | 374,837 | 343,839 | ||||
Available-for-sale securities | 220,390 | 241,754 | ||||
Loans | 1,911 | 2,861 | ||||
Mortgage servicing rights | 4,937 | $ 5,072 | 6,608 | $ 6,716 | $ 7,571 | $ 7,436 |
Derivative payables, gross | 1,063,300 | 942,912 | ||||
Derivative netting adjustments | (1,015,157) | (890,122) | ||||
Derivative payables, net | 48,143 | 52,790 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 1,000 | 1,200 | ||||
Reduction in level 3 derivative receivable and derivative payable balances | 1,900 | 546 | ||||
Costs of the private equity investment portfolio | 2,800 | 3,500 | ||||
Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 844,013 | 669,611 | ||||
Derivative netting adjustments | (809,416) | (643,248) | ||||
Derivative receivables balance | 34,599 | 26,363 | ||||
Derivative payables, gross | 800,186 | 635,166 | ||||
Derivative netting adjustments | (786,925) | (624,945) | ||||
Derivative payables, net | 13,260 | 10,221 | ||||
Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 35,607 | 51,468 | ||||
Derivative netting adjustments | (34,797) | (50,045) | ||||
Derivative receivables balance | 810 | 1,423 | ||||
Derivative payables, gross | 35,305 | 50,529 | ||||
Derivative netting adjustments | (34,034) | (48,988) | ||||
Derivative payables, net | 1,271 | 1,541 | ||||
Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 167,035 | 179,875 | ||||
Derivative netting adjustments | (150,196) | (162,698) | ||||
Derivative receivables balance | 16,838 | 17,177 | ||||
Derivative payables, gross | 165,420 | 190,900 | ||||
Derivative netting adjustments | (149,890) | (171,131) | ||||
Derivative payables, net | 15,530 | 19,769 | ||||
Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 37,901 | 35,859 | ||||
Derivative netting adjustments | (31,041) | (30,330) | ||||
Derivative receivables balance | 6,859 | 5,529 | ||||
Derivative payables, gross | 40,294 | 38,663 | ||||
Derivative netting adjustments | (31,772) | (29,480) | ||||
Derivative payables, net | 8,523 | 9,183 | ||||
Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 19,042 | 25,065 | ||||
Derivative netting adjustments | (12,569) | (15,880) | ||||
Derivative receivables balance | 6,473 | 9,185 | ||||
Derivative payables, gross | 22,095 | 27,654 | ||||
Derivative netting adjustments | (12,536) | (15,578) | ||||
Derivative payables, net | 9,559 | 12,076 | ||||
Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 6,576 | 6,447 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 985 | 1,200 | ||||
Trading assets | ||||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 53 | 61 | ||||
U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 37,500 | 42,300 | ||||
Total PCI | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 15,300 | 11,800 | ||||
Commercial mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,000 | 4,300 | ||||
Residential conforming mortgage intended for sale to government agency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 10,100 | 5,300 | ||||
Reverse mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 2,200 | 2,500 | ||||
Recurring | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Federal funds sold and securities purchased under resale agreements | 22,986 | 23,141 | ||||
Securities borrowed | 0 | 395 | ||||
Trading assets | 309,205 | 284,101 | ||||
Derivative netting adjustments | (1,038,019) | (902,201) | ||||
Derivative receivables balance | 65,579 | 59,677 | ||||
Trading assets | 374,784 | 343,778 | ||||
Available-for-sale securities | 220,390 | 241,754 | ||||
Loans | 1,911 | 2,861 | ||||
Mortgage servicing rights | 4,937 | 6,608 | ||||
Total assets measured at fair value on a recurring basis | 631,584 | 624,984 | ||||
Deposits | 12,991 | 12,516 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,436 | 3,526 | ||||
Other borrowed funds | 10,021 | 9,911 | ||||
Trading liabilities, Debt and equity instruments | 95,126 | 74,107 | ||||
Derivative netting adjustments | (1,015,157) | (890,122) | ||||
Derivative payables, net | 48,143 | 52,790 | ||||
Trading liabilities | 143,269 | 126,897 | ||||
Accounts payable and other liabilities | 7,390 | 4,401 | ||||
Beneficial interests issued by consolidated VIEs | 48 | 787 | ||||
Long-term debt | 38,722 | 33,065 | ||||
Total liabilities measured at fair value on a recurring basis | 213,877 | 191,103 | ||||
Recurring | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (809,416) | (643,248) | ||||
Derivative receivables balance | 34,599 | 26,363 | ||||
Derivative netting adjustments | (786,925) | (624,945) | ||||
Derivative payables, net | 13,260 | 10,221 | ||||
Recurring | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (34,797) | (50,045) | ||||
Derivative receivables balance | 810 | 1,423 | ||||
Derivative netting adjustments | (34,034) | (48,988) | ||||
Derivative payables, net | 1,271 | 1,541 | ||||
Recurring | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (150,196) | (162,698) | ||||
Derivative receivables balance | 16,838 | 17,177 | ||||
Derivative netting adjustments | (149,890) | (171,131) | ||||
Derivative payables, net | 15,530 | 19,769 | ||||
Recurring | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (31,041) | (30,330) | ||||
Derivative receivables balance | 6,859 | 5,529 | ||||
Derivative netting adjustments | (31,772) | (29,480) | ||||
Derivative payables, net | 8,523 | 9,183 | ||||
Recurring | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Derivative netting adjustments | (12,569) | (15,880) | ||||
Derivative receivables balance | 6,473 | 9,185 | ||||
Derivative netting adjustments | (12,536) | (15,578) | ||||
Derivative payables, net | 9,559 | 12,076 | ||||
Recurring | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 1,759 | 1,860 | ||||
Recurring | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,817 | 4,587 | ||||
Recurring | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 7,561 | 7,604 | ||||
Recurring | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 201,546 | 172,618 | ||||
Recurring | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 38,251 | 35,224 | ||||
Available-for-sale securities | 84,252 | 105,582 | ||||
Recurring | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 35,511 | 32,536 | ||||
Available-for-sale securities | 56,822 | 55,066 | ||||
Recurring | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,511 | 1,493 | ||||
Available-for-sale securities | 15,906 | 27,619 | ||||
Recurring | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,229 | 1,195 | ||||
Available-for-sale securities | 11,524 | 22,897 | ||||
Recurring | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 32,014 | 19,021 | ||||
Available-for-sale securities | 21,508 | 11,036 | ||||
Recurring | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 8,318 | 7,637 | ||||
Available-for-sale securities | 31,403 | 33,550 | ||||
Recurring | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,527 | 1,042 | ||||
Recurring | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 108 | 283 | ||||
Recurring | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 61,793 | 53,112 | ||||
Available-for-sale securities | 37,253 | 36,676 | ||||
Recurring | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 24,958 | 23,543 | ||||
Available-for-sale securities | 5,383 | 12,436 | ||||
Recurring | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 30,969 | 28,815 | ||||
Recurring | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 3,716 | 4,224 | ||||
Recurring | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 30,721 | 31,007 | ||||
Recurring | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 7,676 | 9,097 | ||||
Recurring | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 92,480 | 94,930 | ||||
Available-for-sale securities | 2,086 | 2,087 | ||||
Recurring | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 5,994 | 4,657 | ||||
Recurring | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 9,185 | 11,896 | ||||
Recurring | U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 65,000 | 67,000 | ||||
Recurring | Level 1 | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ||||
Securities borrowed | 0 | 0 | ||||
Trading assets | 153,370 | 137,668 | ||||
Gross derivative receivables | 1,215 | 1,196 | ||||
Trading assets | 154,585 | 138,864 | ||||
Available-for-sale securities | 48,311 | 36,284 | ||||
Loans | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 207,107 | 179,065 | ||||
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 | 74,168 | 53,845 | ||||
Derivative payables, gross | 1,349 | 937 | ||||
Trading liabilities | 75,517 | 54,782 | ||||
Accounts payable and other liabilities | 7,376 | 4,382 | ||||
Beneficial interests issued by consolidated VIEs | 0 | 0 | ||||
Long-term debt | 0 | 0 | ||||
Total liabilities measured at fair value on a recurring basis | 82,893 | 59,164 | ||||
Recurring | Level 1 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 242 | 354 | ||||
Derivative payables, gross | 367 | 216 | ||||
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 | 844 | 734 | ||||
Derivative payables, gross | 809 | 669 | ||||
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 | 129 | 108 | ||||
Derivative payables, gross | 173 | 52 | ||||
Recurring | Level 1 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 79 | 102 | ||||
Recurring | Level 1 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,132 | 3,815 | ||||
Recurring | Level 1 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 4,211 | 3,917 | ||||
Recurring | Level 1 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 57,239 | 40,016 | ||||
Recurring | Level 1 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 5 | 6 | ||||
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 | 6 | ||||
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 | 25,668 | 12,036 | ||||
Available-for-sale securities | 21,477 | 10,998 | ||||
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 | 31,566 | 27,974 | ||||
Available-for-sale securities | 24,748 | 23,199 | ||||
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 | 91,994 | 94,059 | ||||
Available-for-sale securities | 2,086 | 2,087 | ||||
Recurring | Level 1 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,137 | 3,593 | ||||
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 | 22,986 | 23,141 | ||||
Securities borrowed | 0 | 395 | ||||
Trading assets | 147,916 | 134,503 | ||||
Gross derivative receivables | 1,096,194 | 952,736 | ||||
Trading assets | 1,244,110 | 1,087,239 | ||||
Available-for-sale securities | 171,298 | 204,646 | ||||
Loans | 1,067 | 1,343 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 1,439,461 | 1,316,893 | ||||
Deposits | 10,362 | 9,566 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,436 | 3,526 | ||||
Other borrowed funds | 8,970 | 9,272 | ||||
Trading liabilities, Debt and equity instruments | 20,903 | 20,199 | ||||
Derivative payables, gross | 1,052,179 | 932,280 | ||||
Trading liabilities | 1,073,082 | 952,479 | ||||
Accounts payable and other liabilities | 0 | 0 | ||||
Beneficial interests issued by consolidated VIEs | 0 | 238 | ||||
Long-term debt | 24,993 | 21,452 | ||||
Total liabilities measured at fair value on a recurring basis | 1,118,843 | 996,533 | ||||
Recurring | Level 2 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 841,029 | 666,491 | ||||
Derivative payables, gross | 798,317 | 633,060 | ||||
Recurring | Level 2 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 34,003 | 48,850 | ||||
Derivative payables, gross | 33,794 | 48,460 | ||||
Recurring | Level 2 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 165,197 | 177,525 | ||||
Derivative payables, gross | 162,030 | 187,890 | ||||
Recurring | Level 2 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 37,158 | 35,150 | ||||
Derivative payables, gross | 37,116 | 36,440 | ||||
Recurring | Level 2 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 18,807 | 24,720 | ||||
Derivative payables, gross | 20,922 | 26,430 | ||||
Recurring | Level 2 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 0 | 101 | ||||
Recurring | Level 2 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 0 | 28 | ||||
Recurring | Level 2 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 0 | 129 | ||||
Recurring | Level 2 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 137,341 | 121,681 | ||||
Recurring | Level 2 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 37,673 | 34,194 | ||||
Available-for-sale securities | 84,251 | 105,581 | ||||
Recurring | Level 2 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 35,080 | 31,815 | ||||
Available-for-sale securities | 56,822 | 55,066 | ||||
Recurring | Level 2 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,405 | 1,299 | ||||
Available-for-sale securities | 15,905 | 27,618 | ||||
Recurring | Level 2 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,188 | 1,080 | ||||
Available-for-sale securities | 11,524 | 22,897 | ||||
Recurring | Level 2 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 6,346 | 6,985 | ||||
Available-for-sale securities | 31 | 38 | ||||
Recurring | Level 2 | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 7,722 | 6,986 | ||||
Available-for-sale securities | 31,403 | 33,550 | ||||
Recurring | Level 2 | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 1,527 | 1,042 | ||||
Recurring | Level 2 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 108 | 283 | ||||
Recurring | Level 2 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 30,186 | 25,064 | ||||
Available-for-sale securities | 12,505 | 13,477 | ||||
Recurring | Level 2 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 24,458 | 22,807 | ||||
Available-for-sale securities | 5,383 | 12,436 | ||||
Recurring | Level 2 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 26,039 | 22,211 | ||||
Recurring | Level 2 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 3,390 | 2,392 | ||||
Recurring | Level 2 | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 29,943 | 30,248 | ||||
Recurring | Level 2 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 7,674 | 9,033 | ||||
Recurring | Level 2 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 214 | 606 | ||||
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 | 1,857 | 1,064 | ||||
Recurring | Level 2 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 8,504 | 11,152 | ||||
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 | 7,919 | 11,930 | ||||
Gross derivative receivables | 6,189 | 7,946 | ||||
Trading assets | 14,108 | 19,876 | ||||
Available-for-sale securities | 781 | 824 | ||||
Loans | 844 | 1,518 | ||||
Mortgage servicing rights | 4,937 | 6,608 | ||||
Total assets measured at fair value on a recurring basis | 23,035 | 31,227 | ||||
Deposits | 2,629 | 2,950 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Other borrowed funds | 1,051 | 639 | ||||
Trading liabilities, Debt and equity instruments | 55 | 63 | ||||
Derivative payables, gross | 9,772 | 9,695 | ||||
Trading liabilities | 9,827 | 9,758 | ||||
Accounts payable and other liabilities | 14 | 19 | ||||
Beneficial interests issued by consolidated VIEs | 48 | 549 | ||||
Long-term debt | 13,729 | 11,613 | ||||
Total liabilities measured at fair value on a recurring basis | 27,298 | 25,528 | ||||
Recurring | Level 3 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 2,744 | 2,766 | ||||
Derivative payables, gross | 1,501 | 1,890 | ||||
Recurring | Level 3 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 1,604 | 2,618 | ||||
Derivative payables, gross | 1,511 | 2,069 | ||||
Recurring | Level 3 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 993 | 1,616 | ||||
Derivative payables, gross | 2,581 | 2,341 | ||||
Recurring | Level 3 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 742 | 709 | ||||
Derivative payables, gross | 3,179 | 2,223 | ||||
Recurring | Level 3 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Gross derivative receivables | 106 | 237 | ||||
Derivative payables, gross | 1,000 | 1,172 | ||||
Recurring | Level 3 | Private equity investments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 1,680 | 1,657 | ||||
Recurring | Level 3 | All other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 685 | 744 | ||||
Recurring | Level 3 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Other | 2,365 | 2,401 | ||||
Recurring | Level 3 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 6,966 | 10,921 | ||||
Recurring | Level 3 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 573 | 1,024 | ||||
Available-for-sale securities | 1 | 1 | ||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 426 | 715 | ||||
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 | 106 | 194 | ||||
Available-for-sale securities | 1 | 1 | ||||
Recurring | Level 3 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 41 | 115 | ||||
Available-for-sale securities | 0 | 0 | ||||
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 | 596 | 651 | ||||
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 | 41 | 74 | ||||
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 | 500 | 736 | ||||
Available-for-sale securities | 0 | 0 | ||||
Recurring | Level 3 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 4,930 | 6,604 | ||||
Recurring | Level 3 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 326 | 1,832 | ||||
Recurring | Level 3 | Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 778 | 759 | ||||
Recurring | Level 3 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Available-for-sale securities | 2 | 64 | ||||
Recurring | Level 3 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | 272 | 265 | ||||
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 | 0 | ||||
Recurring | Level 3 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||||
Trading assets | $ 681 | $ 744 |
Fair Value Measurement - Transf
Fair Value Measurement - Transfers (Details) - USD ($) $ in Billions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative receivables | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers out of Level 3 | $ 1.1 | ||
Trading loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers out of Level 3 | $ 2.3 | ||
Debt | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers out of Level 3 | $ 2.4 | $ 1.3 | |
Transfers out of Level 3 | $ 2.2 |
Fair Value Measurement - Level
Fair Value Measurement - Level 3 Inputs (Details) $ / shares in Units, $ in Millions | Sep. 30, 2016USD ($)$ / shares$ / bbl | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (3,583) | $ (3,583) | $ (2,430) | $ (1,749) | $ (1,936) | $ (746) | $ (2,061) |
Recurring | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | 213,877 | 213,877 | 191,103 | ||||
Beneficial interests issued by consolidated VIEs | 48 | 48 | 787 | ||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 309,205 | 309,205 | 284,101 | ||||
Trading liabilities | 143,269 | 143,269 | 126,897 | ||||
Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Liability fair value | 27,298 | 27,298 | 25,528 | ||||
Beneficial interests issued by consolidated VIEs | 48 | 48 | 549 | ||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 7,919 | 7,919 | 11,930 | ||||
Trading liabilities | $ 9,827 | 9,827 | 9,758 | ||||
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 | 25.00% | ||||||
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 | 85.00% | ||||||
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 | $ 410 | 410 | |||||
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 | (34.00%) | ||||||
Interest rate spread volatility | 3.00% | ||||||
Foreign exchange correlation | (20.00%) | ||||||
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 | 97.00% | ||||||
Interest rate spread volatility | 38.00% | ||||||
Foreign exchange correlation | 70.00% | ||||||
Equity correlation | 75.00% | ||||||
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 | $ 16,999 | 16,999 | |||||
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 | 8.00% | ||||||
Prepayment speed | 0.00% | ||||||
Conditional default rate | 3.00% | ||||||
Loss severity | 85.00% | ||||||
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 | 12.00% | ||||||
Prepayment speed | 3.00% | ||||||
Conditional default rate | 16.00% | ||||||
Loss severity | 140.00% | ||||||
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 | 10.00% | ||||||
Prepayment speed | 1.00% | ||||||
Conditional default rate | 12.00% | ||||||
Loss severity | 114.00% | ||||||
Credit derivatives with underlying mortgage risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading liabilities | $ 258 | 258 | |||||
Credit derivatives with underlying asset-backed securities risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading liabilities | 356 | 356 | |||||
Interest rate | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 1,243 | 1,243 | 1,107 | 876 | 831 | 859 | 626 |
Interest rate | Option pricing | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Interest rate correlation | (34.00%) | ||||||
Interest rate spread volatility | 3.00% | ||||||
Interest rate | Option pricing | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Interest rate correlation | 97.00% | ||||||
Interest rate spread volatility | 38.00% | ||||||
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) | $ 1,243 | 1,243 | |||||
Credit | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ 93 | 93 | 279 | 549 | 512 | 432 | 189 |
Credit | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Credit correlation | 25.00% | ||||||
Credit | Discounted cash flows | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Credit correlation | 85.00% | ||||||
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) | $ 93 | 93 | |||||
Foreign exchange | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (1,588) | (1,588) | (1,205) | (725) | (535) | 405 | (526) |
Foreign exchange | Option pricing | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Foreign exchange correlation | (20.00%) | ||||||
Foreign exchange | Option pricing | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Foreign exchange correlation | 70.00% | ||||||
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) | $ (1,588) | (1,588) | |||||
Equity | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (2,437) | (2,437) | (1,892) | (1,514) | (1,524) | (1,848) | (1,785) |
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 | 60.00% | ||||||
Equity | Option pricing | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (2,437) | (2,437) | |||||
Commodity | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Net derivative asset (liability) | $ (894) | (894) | $ (719) | $ (935) | $ (1,220) | $ (594) | $ (565) |
Commodity | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Forward commodity price | $ / bbl | 38 | ||||||
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) | $ (894) | (894) | |||||
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 | 13.00% | ||||||
Prepayment speed | 20.00% | ||||||
Conditional default rate | 25.00% | ||||||
Loss severity | 90.00% | ||||||
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 | 5.00% | ||||||
Prepayment speed | 9.00% | ||||||
Conditional default rate | 5.00% | ||||||
Loss severity | 43.00% | ||||||
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 | $ 3,103 | 3,103 | |||||
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 | 1.00% | ||||||
Conditional default rate | 0.00% | ||||||
Loss severity | 40.00% | ||||||
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 | 100.00% | ||||||
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 | 6.00% | ||||||
Conditional default rate | 67.00% | ||||||
Loss severity | 40.00% | ||||||
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 | $ 2,205 | $ 2,205 | |||||
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 | 2.00% | ||||||
Credit spread | 0.40% | ||||||
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 | 18.00% | ||||||
Credit spread | 3.75% | ||||||
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 | 9.00% | ||||||
Credit spread | 1.40% | ||||||
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 | $ 860 | $ 860 | |||||
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 (in dollars per share) | $ / shares | $ 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 (in dollars per share) | $ / shares | 340 | ||||||
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 (in dollars per share) | $ / shares | $ 91 | ||||||
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 | $ 3,117 | $ 3,117 | |||||
Collateralized loan obligations | Discounted cash flows | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Prepayment speed | 0.00% | ||||||
Conditional default rate | 0.00% | ||||||
Loss severity | 0.00% | ||||||
Credit spread | 3.70% | ||||||
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 | 30.00% | ||||||
Credit spread | 5.43% | ||||||
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 | 30.00% | ||||||
Credit spread | 4.04% | ||||||
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 | $ 778 | $ 778 | |||||
Collateralized loan obligations | Market comparables | Minimum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price (in dollars per share) | $ / shares | $ 0 | ||||||
Collateralized loan obligations | Market comparables | Maximum | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price (in dollars per share) | $ / shares | 121 | ||||||
Collateralized loan obligations | Market comparables | Weighted average | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Price (in dollars per share) | $ / shares | $ 69 | ||||||
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 | $ 165 | 165 | |||||
MSRs | Discounted cash flows | Recurring | Level 3 | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Asset fair value | $ 4,937 | 4,937 | |||||
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 | ||||||
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 | 11 | ||||||
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 | 7.8 | ||||||
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 | $ 1,680 | 1,680 | |||||
Credit derivatives with underlying mortgage risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | 293 | 293 | |||||
Credit derivatives with underlying asset-backed securities risk | Recurring | Level 3 | |||||||
Level 3 Analysis - Supplemental Data: | |||||||
Trading Securities | $ 384 | $ 384 |
Fair Value Measurement - Change
Fair Value Measurement - Changes in Level 3 Recurring Measurements (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Net derivative receivables: | |||||
Beginning balance | $ (2,430,000,000) | $ (746,000,000) | $ (1,749,000,000) | $ (2,061,000,000) | |
Total realized/unrealized gains/(losses) | (278,000,000) | (208,000,000) | (517,000,000) | ||
Purchases | 150,000,000 | 212,000,000 | 456,000,000 | 1,101,000,000 | |
Sales | (270,000,000) | (331,000,000) | (714,000,000) | (1,176,000,000) | |
Settlements | (612,000,000) | (181,000,000) | (1,104,000,000) | (707,000,000) | |
Transfers into and/or out of level 3 | (143,000,000) | (682,000,000) | 45,000,000 | (831,000,000) | |
Ending balance | (3,583,000,000) | (1,936,000,000) | (3,583,000,000) | (1,936,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | $ (327,000,000) | (86,000,000) | $ (1,726,000,000) | 1,029,000,000 | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Level 3 liabilities as a percentage of total firm liabilities at fair value | 13.00% | 13.00% | 13.00% | ||
Deposits | |||||
Liabilities | |||||
Beginning balance | $ 2,409,000,000 | 3,528,000,000 | $ 2,950,000,000 | 2,859,000,000 | |
Total realized/unrealized (gains)/losses | 1,000,000 | 42,000,000 | 76,000,000 | (22,000,000) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 602,000,000 | 327,000,000 | 1,085,000,000 | 1,775,000,000 | |
Settlements | (191,000,000) | (280,000,000) | (868,000,000) | (425,000,000) | |
Transfers into and/or out of level 3 | (192,000,000) | (240,000,000) | (614,000,000) | (810,000,000) | |
Ending balance | 2,629,000,000 | 3,377,000,000 | 2,629,000,000 | 3,377,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | (10,000,000) | 54,000,000 | (24,000,000) | 49,000,000 | |
Other borrowed funds | |||||
Liabilities | |||||
Beginning balance | 907,000,000 | 1,261,000,000 | 639,000,000 | 1,453,000,000 | |
Total realized/unrealized (gains)/losses | (67,000,000) | (402,000,000) | (223,000,000) | (525,000,000) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | ||
Issuances | 584,000,000 | 575,000,000 | 1,356,000,000 | 2,897,000,000 | |
Settlements | (420,000,000) | (403,000,000) | (789,000,000) | (2,545,000,000) | |
Transfers into and/or out of level 3 | 47,000,000 | (263,000,000) | 68,000,000 | (512,000,000) | |
Ending balance | 1,051,000,000 | 768,000,000 | 1,051,000,000 | 768,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | (48,000,000) | (317,000,000) | (113,000,000) | (424,000,000) | |
Total trading assets – debt and equity instruments | |||||
Liabilities | |||||
Beginning balance | 57,000,000 | 72,000,000 | 63,000,000 | 72,000,000 | |
Total realized/unrealized (gains)/losses | (4,000,000) | 8,000,000 | (11,000,000) | 13,000,000 | |
Purchases | (8,000,000) | (10,000,000) | (8,000,000) | (141,000,000) | |
Sales | 5,000,000 | 2,000,000 | 23,000,000 | 149,000,000 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (6,000,000) | (6,000,000) | (21,000,000) | (20,000,000) | |
Transfers into and/or out of level 3 | 11,000,000 | 1,000,000 | 9,000,000 | (6,000,000) | |
Ending balance | 55,000,000 | 67,000,000 | 55,000,000 | 67,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 0 | 7,000,000 | 0 | 7,000,000 | |
Accounts payable and other liabilities | |||||
Liabilities | |||||
Beginning balance | 15,000,000 | 23,000,000 | 19,000,000 | 26,000,000 | |
Total realized/unrealized (gains)/losses | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (1,000,000) | (2,000,000) | (5,000,000) | (5,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Ending balance | 14,000,000 | 21,000,000 | 14,000,000 | 21,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 0 | 0 | 0 | 0 | |
Beneficial interests issued by consolidated VIE | |||||
Liabilities | |||||
Beginning balance | 584,000,000 | 1,140,000,000 | 549,000,000 | 1,146,000,000 | |
Total realized/unrealized (gains)/losses | (11,000,000) | (35,000,000) | (33,000,000) | (52,000,000) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 143,000,000 | 286,000,000 | |
Settlements | (525,000,000) | (87,000,000) | (611,000,000) | (362,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Ending balance | 48,000,000 | 1,018,000,000 | 48,000,000 | 1,018,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 7,000,000 | (36,000,000) | 0 | (49,000,000) | |
Long-term debt | |||||
Liabilities | |||||
Beginning balance | 13,147,000,000 | 12,589,000,000 | 11,613,000,000 | 11,877,000,000 | |
Total realized/unrealized (gains)/losses | 324,000,000 | (420,000,000) | 716,000,000 | (617,000,000) | |
Purchases | 0 | (58,000,000) | 0 | (58,000,000) | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 1,877,000,000 | 2,104,000,000 | 6,752,000,000 | 7,487,000,000 | |
Settlements | (1,432,000,000) | (1,048,000,000) | (4,327,000,000) | (5,205,000,000) | |
Transfers into and/or out of level 3 | (187,000,000) | (2,311,000,000) | (1,025,000,000) | (2,628,000,000) | |
Ending balance | 13,729,000,000 | 10,856,000,000 | 13,729,000,000 | 10,856,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 268,000,000 | (392,000,000) | 1,678,000,000 | (583,000,000) | |
Interest rate | |||||
Net derivative receivables: | |||||
Beginning balance | 1,107,000,000 | 859,000,000 | 876,000,000 | 626,000,000 | |
Total realized/unrealized gains/(losses) | 247,000,000 | 244,000,000 | 787,000,000 | 737,000,000 | |
Purchases | 36,000,000 | 9,000,000 | 142,000,000 | 451,000,000 | |
Sales | (7,000,000) | (6,000,000) | (27,000,000) | (164,000,000) | |
Settlements | (319,000,000) | (147,000,000) | (761,000,000) | (500,000,000) | |
Transfers into and/or out of level 3 | 179,000,000 | (128,000,000) | 226,000,000 | (319,000,000) | |
Ending balance | 1,243,000,000 | 831,000,000 | 1,243,000,000 | 831,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 79,000,000 | 77,000,000 | (167,000,000) | 310,000,000 | |
Credit | |||||
Net derivative receivables: | |||||
Beginning balance | 279,000,000 | 432,000,000 | 549,000,000 | 189,000,000 | |
Total realized/unrealized gains/(losses) | (231,000,000) | 7,000,000 | (679,000,000) | 101,000,000 | |
Purchases | 8,000,000 | 6,000,000 | 8,000,000 | 16,000,000 | |
Sales | 0 | (1,000,000) | (2,000,000) | (5,000,000) | |
Settlements | 48,000,000 | 48,000,000 | 165,000,000 | 174,000,000 | |
Transfers into and/or out of level 3 | (11,000,000) | 20,000,000 | 52,000,000 | 37,000,000 | |
Ending balance | 93,000,000 | 512,000,000 | 93,000,000 | 512,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (237,000,000) | 13,000,000 | (662,000,000) | 237,000,000 | |
Foreign exchange | |||||
Net derivative receivables: | |||||
Beginning balance | (1,205,000,000) | 405,000,000 | (725,000,000) | (526,000,000) | |
Total realized/unrealized gains/(losses) | 126,000,000 | (254,000,000) | (68,000,000) | 691,000,000 | |
Purchases | 0 | 1,000,000 | 58,000,000 | 14,000,000 | |
Sales | (5,000,000) | (135,000,000) | (123,000,000) | (146,000,000) | |
Settlements | (509,000,000) | (154,000,000) | (709,000,000) | (140,000,000) | |
Transfers into and/or out of level 3 | 5,000,000 | (398,000,000) | (21,000,000) | (428,000,000) | |
Ending balance | (1,588,000,000) | (535,000,000) | (1,588,000,000) | (535,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (103,000,000) | (222,000,000) | (291,000,000) | 222,000,000 | |
Equity | |||||
Net derivative receivables: | |||||
Beginning balance | (1,892,000,000) | (1,848,000,000) | (1,514,000,000) | (1,785,000,000) | |
Total realized/unrealized gains/(losses) | (251,000,000) | 348,000,000 | (615,000,000) | 673,000,000 | |
Purchases | 106,000,000 | 196,000,000 | 248,000,000 | 620,000,000 | |
Sales | (249,000,000) | (187,000,000) | (571,000,000) | (859,000,000) | |
Settlements | 158,000,000 | 172,000,000 | 231,000,000 | (90,000,000) | |
Transfers into and/or out of level 3 | (309,000,000) | (205,000,000) | (216,000,000) | (83,000,000) | |
Ending balance | (2,437,000,000) | (1,524,000,000) | (2,437,000,000) | (1,524,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (67,000,000) | 277,000,000 | (599,000,000) | 414,000,000 | |
Commodity | |||||
Net derivative receivables: | |||||
Beginning balance | (719,000,000) | (594,000,000) | (935,000,000) | (565,000,000) | |
Total realized/unrealized gains/(losses) | (169,000,000) | (553,000,000) | 58,000,000 | (464,000,000) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | (9,000,000) | (2,000,000) | 9,000,000 | (2,000,000) | |
Settlements | 10,000,000 | (100,000,000) | (30,000,000) | (151,000,000) | |
Transfers into and/or out of level 3 | (7,000,000) | 29,000,000 | 4,000,000 | (38,000,000) | |
Ending balance | (894,000,000) | (1,220,000,000) | (894,000,000) | (1,220,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 1,000,000 | (231,000,000) | (7,000,000) | (154,000,000) | |
Total mortgage-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 703,000,000 | 1,162,000,000 | 1,024,000,000 | 1,891,000,000 | |
Total realized/unrealized gains/(losses) | (7,000,000) | (20,000,000) | (88,000,000) | 53,000,000 | |
Purchases | 47,000,000 | 98,000,000 | 418,000,000 | 637,000,000 | |
Sales | (89,000,000) | (131,000,000) | (509,000,000) | (959,000,000) | |
Settlements | (37,000,000) | (45,000,000) | (106,000,000) | (143,000,000) | |
Transfers into and/or out of level 3 | (44,000,000) | (130,000,000) | (166,000,000) | (545,000,000) | |
Fair value, ending balance | 573,000,000 | 934,000,000 | 573,000,000 | 934,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 1,000,000 | (75,000,000) | (79,000,000) | (39,000,000) | |
Mortgage-backed securities, U.S. government agencies | |||||
Assets | |||||
Fair value, beginning balance | 473,000,000 | 901,000,000 | 715,000,000 | 922,000,000 | |
Total realized/unrealized gains/(losses) | (4,000,000) | (81,000,000) | (78,000,000) | (43,000,000) | |
Purchases | 4,000,000 | 68,000,000 | 133,000,000 | 250,000,000 | |
Sales | (22,000,000) | (21,000,000) | (230,000,000) | (186,000,000) | |
Settlements | (31,000,000) | (28,000,000) | (89,000,000) | (102,000,000) | |
Transfers into and/or out of level 3 | 6,000,000 | (53,000,000) | (25,000,000) | (55,000,000) | |
Fair value, ending balance | 426,000,000 | 786,000,000 | 426,000,000 | 786,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | (79,000,000) | (78,000,000) | (41,000,000) | |
Mortgage-backed securities, Residential - nonagency | |||||
Assets | |||||
Fair value, beginning balance | 200,000,000 | 123,000,000 | 194,000,000 | 663,000,000 | |
Total realized/unrealized gains/(losses) | (3,000,000) | 64,000,000 | (4,000,000) | 108,000,000 | |
Purchases | 43,000,000 | 25,000,000 | 220,000,000 | 202,000,000 | |
Sales | (66,000,000) | (95,000,000) | (250,000,000) | (558,000,000) | |
Settlements | (5,000,000) | (9,000,000) | (16,000,000) | (19,000,000) | |
Transfers into and/or out of level 3 | (63,000,000) | 11,000,000 | (38,000,000) | (277,000,000) | |
Fair value, ending balance | 106,000,000 | 119,000,000 | 106,000,000 | 119,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 1,000,000 | 8,000,000 | (3,000,000) | 7,000,000 | |
Mortgage-backed securities, Commercial - nonagency | |||||
Assets | |||||
Fair value, beginning balance | 30,000,000 | 138,000,000 | 115,000,000 | 306,000,000 | |
Total realized/unrealized gains/(losses) | 0 | (3,000,000) | (6,000,000) | (12,000,000) | |
Purchases | 0 | 5,000,000 | 65,000,000 | 185,000,000 | |
Sales | (1,000,000) | (15,000,000) | (29,000,000) | (215,000,000) | |
Settlements | (1,000,000) | (8,000,000) | (1,000,000) | (22,000,000) | |
Transfers into and/or out of level 3 | 13,000,000 | (88,000,000) | (103,000,000) | (213,000,000) | |
Fair value, ending balance | 41,000,000 | 29,000,000 | 41,000,000 | 29,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | (4,000,000) | 2,000,000 | (5,000,000) | |
Total trading assets – debt and equity instruments | |||||
Assets | |||||
Fair value, beginning balance | 9,698,000,000 | 15,941,000,000 | 11,930,000,000 | 22,489,000,000 | |
Total realized/unrealized gains/(losses) | 118,000,000 | (139,000,000) | (204,000,000) | 33,000,000 | |
Purchases | 1,181,000,000 | 2,245,000,000 | 3,459,000,000 | 8,304,000,000 | |
Sales | (1,511,000,000) | (1,418,000,000) | (4,167,000,000) | (8,476,000,000) | |
Settlements | (713,000,000) | (1,725,000,000) | (2,561,000,000) | (2,973,000,000) | |
Transfers into and/or out of level 3 | (854,000,000) | (1,825,000,000) | (538,000,000) | (6,298,000,000) | |
Fair value, ending balance | 7,919,000,000 | 13,079,000,000 | 7,919,000,000 | 13,079,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 80,000,000 | (195,000,000) | 65,000,000 | (272,000,000) | |
Total debt instruments | |||||
Assets | |||||
Fair value, beginning balance | 8,782,000,000 | 14,662,000,000 | 10,921,000,000 | 21,006,000,000 | |
Total realized/unrealized gains/(losses) | 52,000,000 | (125,000,000) | (221,000,000) | (87,000,000) | |
Purchases | 863,000,000 | 1,759,000,000 | 2,755,000,000 | 6,657,000,000 | |
Sales | (1,476,000,000) | (1,140,000,000) | (3,812,000,000) | (7,040,000,000) | |
Settlements | (406,000,000) | (1,634,000,000) | (2,197,000,000) | (2,649,000,000) | |
Transfers into and/or out of level 3 | (849,000,000) | (1,273,000,000) | (480,000,000) | (5,638,000,000) | |
Fair value, ending balance | 6,966,000,000 | 12,249,000,000 | 6,966,000,000 | 12,249,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 32,000,000 | (189,000,000) | (40,000,000) | (305,000,000) | |
Obligations of U.S. states and municipalities | |||||
Assets | |||||
Fair value, beginning balance | 551,000,000 | 1,247,000,000 | 651,000,000 | 1,273,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | (7,000,000) | 11,000,000 | 6,000,000 | |
Purchases | 68,000,000 | 90,000,000 | 104,000,000 | 281,000,000 | |
Sales | (25,000,000) | (23,000,000) | (132,000,000) | (133,000,000) | |
Settlements | 0 | 0 | (38,000,000) | (27,000,000) | |
Transfers into and/or out of level 3 | 0 | (735,000,000) | 0 | (828,000,000) | |
Fair value, ending balance | 596,000,000 | 572,000,000 | 596,000,000 | 572,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 2,000,000 | (8,000,000) | 11,000,000 | (7,000,000) | |
Non-U.S. government debt securities | |||||
Assets | |||||
Fair value, beginning balance | 37,000,000 | 208,000,000 | 74,000,000 | 302,000,000 | |
Total realized/unrealized gains/(losses) | (1,000,000) | 11,000,000 | 1,000,000 | 20,000,000 | |
Purchases | 54,000,000 | 18,000,000 | 83,000,000 | 173,000,000 | |
Sales | (35,000,000) | (7,000,000) | (86,000,000) | (119,000,000) | |
Settlements | (2,000,000) | (1,000,000) | (2,000,000) | (43,000,000) | |
Transfers into and/or out of level 3 | (12,000,000) | (143,000,000) | (29,000,000) | (247,000,000) | |
Fair value, ending balance | 41,000,000 | 86,000,000 | 41,000,000 | 86,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (1,000,000) | 18,000,000 | (2,000,000) | 16,000,000 | |
Corporate debt securities | |||||
Assets | |||||
Fair value, beginning balance | 516,000,000 | 943,000,000 | 736,000,000 | 2,989,000,000 | |
Total realized/unrealized gains/(losses) | 17,000,000 | (21,000,000) | (15,000,000) | (71,000,000) | |
Purchases | 63,000,000 | 123,000,000 | 222,000,000 | 944,000,000 | |
Sales | (43,000,000) | (100,000,000) | (187,000,000) | (909,000,000) | |
Settlements | (30,000,000) | (84,000,000) | (155,000,000) | (119,000,000) | |
Transfers into and/or out of level 3 | (23,000,000) | (24,000,000) | (101,000,000) | (1,997,000,000) | |
Fair value, ending balance | 500,000,000 | 837,000,000 | 500,000,000 | 837,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (1,000,000) | (6,000,000) | (28,000,000) | (2,000,000) | |
Loans | |||||
Assets | |||||
Fair value, beginning balance | 6,016,000,000 | 9,563,000,000 | 6,604,000,000 | 13,287,000,000 | |
Total realized/unrealized gains/(losses) | 23,000,000 | (73,000,000) | (165,000,000) | (64,000,000) | |
Purchases | 498,000,000 | 945,000,000 | 1,363,000,000 | 2,841,000,000 | |
Sales | (1,111,000,000) | (672,000,000) | (2,255,000,000) | (3,821,000,000) | |
Settlements | (297,000,000) | (1,494,000,000) | (939,000,000) | (2,313,000,000) | |
Transfers into and/or out of level 3 | (199,000,000) | (255,000,000) | 322,000,000 | (1,916,000,000) | |
Fair value, ending balance | 4,930,000,000 | 8,014,000,000 | 4,930,000,000 | 8,014,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 18,000,000 | (104,000,000) | 65,000,000 | (254,000,000) | |
Asset-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 959,000,000 | 1,539,000,000 | 1,832,000,000 | 1,264,000,000 | |
Total realized/unrealized gains/(losses) | 18,000,000 | (15,000,000) | 35,000,000 | (31,000,000) | |
Purchases | 133,000,000 | 485,000,000 | 565,000,000 | 1,781,000,000 | |
Sales | (173,000,000) | (207,000,000) | (643,000,000) | (1,099,000,000) | |
Settlements | (40,000,000) | (10,000,000) | (957,000,000) | (4,000,000) | |
Transfers into and/or out of level 3 | (571,000,000) | 14,000,000 | (506,000,000) | (105,000,000) | |
Fair value, ending balance | 326,000,000 | 1,806,000,000 | 326,000,000 | 1,806,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 13,000,000 | (14,000,000) | (7,000,000) | (19,000,000) | |
Equity securities | |||||
Assets | |||||
Fair value, beginning balance | 246,000,000 | 310,000,000 | 265,000,000 | 431,000,000 | |
Total realized/unrealized gains/(losses) | 21,000,000 | 9,000,000 | 18,000,000 | 55,000,000 | |
Purchases | 42,000,000 | 26,000,000 | 75,000,000 | 76,000,000 | |
Sales | (35,000,000) | (15,000,000) | (68,000,000) | (138,000,000) | |
Settlements | (2,000,000) | (2,000,000) | (24,000,000) | (19,000,000) | |
Transfers into and/or out of level 3 | 0 | 7,000,000 | 6,000,000 | (70,000,000) | |
Fair value, ending balance | 272,000,000 | 335,000,000 | 272,000,000 | 335,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 18,000,000 | 9,000,000 | 32,000,000 | 58,000,000 | |
Other | |||||
Assets | |||||
Fair value, beginning balance | 670,000,000 | 969,000,000 | 744,000,000 | 1,052,000,000 | |
Total realized/unrealized gains/(losses) | 45,000,000 | (23,000,000) | (1,000,000) | 65,000,000 | |
Purchases | 276,000,000 | 460,000,000 | 629,000,000 | 1,571,000,000 | |
Sales | 0 | (263,000,000) | (287,000,000) | (1,298,000,000) | |
Settlements | (305,000,000) | (89,000,000) | (340,000,000) | (305,000,000) | |
Transfers into and/or out of level 3 | (5,000,000) | (559,000,000) | (64,000,000) | (590,000,000) | |
Fair value, ending balance | 681,000,000 | 495,000,000 | 681,000,000 | 495,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 30,000,000 | (15,000,000) | 73,000,000 | (25,000,000) | |
Total available-for-sale securities | |||||
Assets | |||||
Fair value, beginning balance | 810,000,000 | 875,000,000 | 824,000,000 | 1,037,000,000 | |
Total realized/unrealized gains/(losses) | 18,000,000 | (27,000,000) | 17,000,000 | (34,000,000) | |
Purchases | 0 | 0 | 0 | 49,000,000 | |
Sales | 0 | 0 | 0 | (43,000,000) | |
Settlements | (5,000,000) | (13,000,000) | (18,000,000) | (75,000,000) | |
Transfers into and/or out of level 3 | (42,000,000) | 0 | (42,000,000) | (99,000,000) | |
Fair value, ending balance | 781,000,000 | 835,000,000 | 781,000,000 | 835,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 18,000,000 | (26,000,000) | 17,000,000 | (28,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Realized gains/(losses) recorded in income | 0 | 0 | 0 | (7,000,000) | |
Unrealized gains/(losses) recorded in OCI | 18,000,000 | (27,000,000) | 16,000,000 | (27,000,000) | |
Asset-backed securities | |||||
Assets | |||||
Fair value, beginning balance | 809,000,000 | 862,000,000 | 823,000,000 | 908,000,000 | |
Total realized/unrealized gains/(losses) | 18,000,000 | (27,000,000) | 17,000,000 | (34,000,000) | |
Purchases | 0 | 0 | 0 | 49,000,000 | |
Sales | 0 | 0 | 0 | (43,000,000) | |
Settlements | (5,000,000) | (5,000,000) | (18,000,000) | (50,000,000) | |
Transfers into and/or out of level 3 | (42,000,000) | 0 | (42,000,000) | 0 | |
Fair value, ending balance | 780,000,000 | 830,000,000 | 780,000,000 | 830,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 18,000,000 | (26,000,000) | 17,000,000 | (28,000,000) | |
Other | |||||
Assets | |||||
Fair value, beginning balance | 1,000,000 | 13,000,000 | 1,000,000 | 129,000,000 | |
Total realized/unrealized gains/(losses) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 0 | (8,000,000) | 0 | (25,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | (99,000,000) | |
Fair value, ending balance | 1,000,000 | 5,000,000 | 1,000,000 | 5,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 0 | 0 | 0 | |
Loans | |||||
Assets | |||||
Fair value, beginning balance | 785,000,000 | 2,295,000,000 | 1,518,000,000 | 2,541,000,000 | |
Total realized/unrealized gains/(losses) | 7,000,000 | 9,000,000 | (7,000,000) | (111,000,000) | |
Purchases | 75,000,000 | 869,000,000 | 259,000,000 | 1,286,000,000 | |
Sales | 0 | 0 | 0 | (83,000,000) | |
Settlements | (23,000,000) | (298,000,000) | (613,000,000) | (758,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | (313,000,000) | 0 | |
Fair value, ending balance | 844,000,000 | 2,875,000,000 | 844,000,000 | 2,875,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 7,000,000 | 9,000,000 | 38,000,000 | (108,000,000) | |
Mortgage servicing rights | |||||
Assets | |||||
Fair value, beginning balance | 5,072,000,000 | 7,571,000,000 | 6,608,000,000 | 7,436,000,000 | |
Total realized/unrealized gains/(losses) | (87,000,000) | (765,000,000) | (1,296,000,000) | (550,000,000) | |
Purchases | 190,000,000 | 143,000,000 | 410,000,000 | 882,000,000 | |
Sales | (5,000,000) | 0 | (72,000,000) | (375,000,000) | |
Settlements | (233,000,000) | (233,000,000) | (713,000,000) | (677,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 4,937,000,000 | 6,716,000,000 | 4,937,000,000 | 6,716,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (87,000,000) | (765,000,000) | (1,296,000,000) | (550,000,000) | |
Other assets, Private equity investments | |||||
Assets | |||||
Fair value, beginning balance | 1,656,000,000 | 1,987,000,000 | 1,657,000,000 | 2,225,000,000 | |
Total realized/unrealized gains/(losses) | 28,000,000 | (32,000,000) | 98,000,000 | 15,000,000 | |
Purchases | 6,000,000 | 70,000,000 | 447,000,000 | 77,000,000 | |
Sales | 0 | (267,000,000) | (427,000,000) | (294,000,000) | |
Settlements | (10,000,000) | (58,000,000) | (95,000,000) | (174,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | (149,000,000) | |
Fair value, ending balance | 1,680,000,000 | 1,700,000,000 | 1,680,000,000 | 1,700,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 17,000,000 | (32,000,000) | 25,000,000 | 0 | |
Other assets, All other | |||||
Assets | |||||
Fair value, beginning balance | 713,000,000 | 839,000,000 | 744,000,000 | 959,000,000 | |
Total realized/unrealized gains/(losses) | (4,000,000) | 80,000,000 | 72,000,000 | 90,000,000 | |
Purchases | 0 | 0 | 30,000,000 | 65,000,000 | |
Sales | 0 | 0 | (11,000,000) | (143,000,000) | |
Settlements | (24,000,000) | (100,000,000) | (150,000,000) | (152,000,000) | |
Transfers into and/or out of level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 685,000,000 | 819,000,000 | 685,000,000 | 819,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | $ (2,000,000) | $ 82,000,000 | $ 69,000,000 | $ 66,000,000 |
Fair Value Measurement - Leve59
Fair Value Measurement - Level 3 Analysis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Percentage of level 3 assets in total Firm assets | 0.90% | 0.90% | |||
Total realized/unrealized gains/(losses) | $ (278) | $ (208) | $ (517) | ||
Credit derivative | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (231) | 7 | (679) | $ 101 | |
Debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Net loss on mortgage servicing rights | 80 | (195) | 65 | (272) | |
Assets, total realized/unrealized gains/(losses) | 118 | (139) | (204) | 33 | |
Trading loans | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Net loss on mortgage servicing rights | 18 | (104) | 65 | (254) | |
Assets, total realized/unrealized gains/(losses) | 23 | (73) | (165) | (64) | |
MSRs | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Net loss on mortgage servicing rights | (87) | (765) | (1,296) | (550) | |
Assets, total realized/unrealized gains/(losses) | (87) | (765) | (1,296) | (550) | |
Level 3 | Liability | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (243) | (807) | |||
Liabilities, total realized/unrealized gains/(losses) | 525 | (1,200) | |||
Level 3 | Total assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | (198) | $ (1,100) | (1,800) | ||
Level 3 | Derivatives | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | $ 1,738 | ||||
Recurring | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 631,584 | 631,584 | $ 624,984 | ||
Recurring | Credit derivative | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,000 | ||||
Recurring | Trading assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,800 | 4,000 | |||
Recurring | Debt and equity instruments | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,100 | ||||
Recurring | Derivative receivables | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,100 | 1,800 | |||
Recurring | Trading loans | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,700 | ||||
Recurring | Asset-backed securities | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,500 | ||||
Recurring | MSRs | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Decrease in level 3 assets | 1,700 | ||||
Recurring | Level 3 | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 23,035 | 23,035 | $ 31,227 | ||
Decrease in level 3 assets | $ 3,000 | $ 8,200 |
Fair Value Measurement - Impact
Fair Value Measurement - Impact of Credit Adjustments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Impact of credit adjustments on earnings [Abstract] | ||||
Credit adjustments, CVA | $ 97 | $ (127) | $ (659) | $ 395 |
Credit adjustments, DVA and FVA | $ (154) | $ (121) | $ (277) | $ (58) |
Fair Value Measurement - Nonrec
Fair Value Measurement - Nonrecurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value option, changes in fair value gain (loss) | $ (28) | $ (66) | $ (181) | $ (170) |
Total PCI | Broker price opinions | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 8.00% | |||
Total PCI | Broker price opinions | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 52.00% | |||
Total PCI | Broker price opinions | Weighted average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 23.00% | |||
Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value, nonrecurring | 1,100 | 2,300 | $ 1,100 | 2,300 |
Nonrecurring | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value, nonrecurring | 281 | 1,500 | 281 | 1,500 |
Nonrecurring | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value, nonrecurring | 784 | $ 867 | 784 | $ 867 |
Nonrecurring | Level 3 | Total PCI | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value, nonrecurring | $ 354 | $ 354 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Financial assets | ||||
Cash and due from banks | $ 21,390 | $ 20,490 | $ 21,258 | $ 27,831 |
Deposits with banks | 396,200 | 340,015 | ||
Federal funds sold and securities purchased under resale agreements | 232,637 | 212,575 | ||
Securities, held-to-maturity | 54,733 | 50,587 | ||
At fair value | 1,911 | 2,861 | ||
Financial liabilities | ||||
Commercial paper | 12,258 | 15,562 | ||
Beneficial interests issued by consolidated VIEs | 42,233 | 41,879 | ||
Carrying value | ||||
Financial assets | ||||
Cash and due from banks | 21,400 | 20,500 | ||
Deposits with banks | 396,200 | 340,000 | ||
Accrued interest and accounts receivable | 64,300 | 46,600 | ||
Federal funds sold and securities purchased under resale agreements | 209,600 | 189,500 | ||
Securities borrowed | 109,200 | 98,300 | ||
Securities, held-to-maturity | 52,000 | 49,100 | ||
At fair value | 872,000 | 820,800 | ||
Other | 67,500 | 66,000 | ||
Financial liabilities | ||||
Deposits | 1,363,100 | 1,267,200 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 167,100 | 149,200 | ||
Commercial paper | 12,300 | 15,600 | ||
Other borrowed funds | 14,500 | 11,200 | ||
Accounts payable and other liabilities | 156,300 | 144,600 | ||
Beneficial interests issued by consolidated VIEs | 42,200 | 41,100 | ||
Long-term debt and junior subordinated deferrable interest debentures | 270,700 | 255,600 | ||
Wholesale lending-related commitments | 1,100 | 800 | ||
Estimated fair value hierarchy | ||||
Financial assets | ||||
Cash and due from banks | 21,400 | 20,500 | ||
Deposits with banks | 396,200 | 340,000 | ||
Accrued interest and accounts receivable | 64,300 | 46,600 | ||
Federal funds sold and securities purchased under resale agreements | 209,600 | 189,500 | ||
Securities borrowed | 109,200 | 98,300 | ||
Securities, held-to-maturity | 54,700 | 50,600 | ||
At fair value | 877,000 | 828,100 | ||
Other | 72,200 | 70,700 | ||
Financial liabilities | ||||
Deposits | 1,363,200 | 1,267,300 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 167,100 | 149,200 | ||
Commercial paper | 12,300 | 15,600 | ||
Other borrowed funds | 14,500 | 11,200 | ||
Accounts payable and other liabilities | 156,100 | 144,500 | ||
Beneficial interests issued by consolidated VIEs | 42,300 | 41,100 | ||
Long-term debt and junior subordinated deferrable interest debentures | 273,700 | 261,700 | ||
Wholesale lending-related commitments | 2,400 | 3,000 | ||
Estimated fair value hierarchy | Level 1 | ||||
Financial assets | ||||
Cash and due from banks | 21,400 | 20,500 | ||
Deposits with banks | 391,700 | 335,900 | ||
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 | ||
At fair value | 0 | 0 | ||
Other | 200 | 100 | ||
Financial liabilities | ||||
Deposits | 0 | 0 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||
Commercial paper | 0 | 0 | ||
Other borrowed funds | 0 | 0 | ||
Accounts payable and other liabilities | 0 | 0 | ||
Beneficial 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 | 4,500 | 4,100 | ||
Accrued interest and accounts receivable | 64,200 | 46,400 | ||
Federal funds sold and securities purchased under resale agreements | 209,100 | 189,500 | ||
Securities borrowed | 109,200 | 98,300 | ||
Securities, held-to-maturity | 54,700 | 50,600 | ||
At fair value | 25,100 | 25,400 | ||
Other | 57,100 | 56,300 | ||
Financial liabilities | ||||
Deposits | 1,363,200 | 1,266,100 | ||
Federal funds purchased and securities loaned or sold under repurchase agreements | 167,100 | 149,200 | ||
Commercial paper | 12,300 | 15,600 | ||
Other borrowed funds | 14,500 | 11,200 | ||
Accounts payable and other liabilities | 153,200 | 141,700 | ||
Beneficial interests issued by consolidated VIEs | 42,300 | 40,200 | ||
Long-term debt and junior subordinated deferrable interest debentures | 271,700 | 257,400 | ||
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 | 100 | 200 | ||
Federal funds sold and securities purchased under resale agreements | 500 | 0 | ||
Securities borrowed | 0 | 0 | ||
Securities, held-to-maturity | 0 | 0 | ||
At fair value | 851,900 | 802,700 | ||
Other | 14,900 | 14,300 | ||
Financial liabilities | ||||
Deposits | 0 | 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 | 2,900 | 2,800 | ||
Beneficial interests issued by consolidated VIEs | 0 | 900 | ||
Long-term debt and junior subordinated deferrable interest debentures | 2,000 | 4,300 | ||
Wholesale lending-related commitments | $ 2,400 | $ 3,000 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | $ (28) | $ (66) | $ (181) | $ (170) |
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) | (54) | 63 | 14 | 37 |
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) | (54) | 63 | 14 | 37 |
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) | 0 | (1) | 1 | (5) |
Securities borrowed | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | (1) | 1 | (5) |
Securities borrowed | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 0 | 0 | 0 |
Debt and equity instruments, excluding loans | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 256 | (144) | 143 | 376 |
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) | 256 | (144) | 143 | 375 |
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 | 0 | 0 | 1 |
Loans reported as trading assets: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 296 | 17 | 408 | 241 |
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) | 286 | 12 | 384 | 223 |
Loans reported as trading assets: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 10 | 5 | 24 | 18 |
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) | 454 | 371 | 1,163 | 863 |
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) | 2 | 94 | 188 | 206 |
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) | 452 | 277 | 975 | 657 |
Loans: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 31 | 13 | 32 |
Loans: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 31 | 13 | 32 |
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) | 1 | 2 | 5 | 2 |
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) | 1 | 2 | 5 | 2 |
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) | (1) | 54 | 95 | 125 |
Other assets | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 2 | 54 | 16 | 116 |
Other assets | All other income | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (3) | 0 | 79 | 9 |
Deposits | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 38 | (112) | (531) | (75) |
Deposits | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 38 | (112) | (531) | (75) |
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) | 4 | (14) | (16) | (5) |
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) | 4 | (14) | (16) | (5) |
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) | (291) | 2,015 | (292) | 2,121 |
Other borrowed funds | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (291) | 2,015 | (292) | 2,121 |
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) | 3 | (6) | 5 | (20) |
Trading liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 3 | (6) | 5 | (20) |
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) | 0 | 29 | 23 | 73 |
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) | 0 | 29 | 23 | 73 |
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 |
Long-term debt: DVA on fair value option elected liabilities | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 299 | 0 | 624 |
Long-term debt: DVA on fair value option elected liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | 0 | 299 | 0 | 624 |
Long-term debt: DVA on fair value option elected 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: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Fair value option, changes in fair value gain (loss) | (619) | 1,116 | (1,537) | 1,466 |
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) | (619) | 1,116 | (1,537) | 1,466 |
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, 2016 | Dec. 31, 2015 |
Long-term beneficial interests | ||
Performing loans, ninety days or more past due | $ 0 | $ 0 |
Letters of Credit Hedged by Derivative Transactions, Amount Elected at Fair Value [Member] | ||
Long-term beneficial interests | ||
Contractual amount of letters of credit | 4,600,000,000 | 4,600,000,000 |
Contractual letters of credit, fair value | (86,000,000) | (94,000,000) |
Contractual principal outstanding | ||
Loans | ||
Nonaccrual loans | 3,164,000,000 | 3,491,000,000 |
Total loans | 37,197,000,000 | 37,042,000,000 |
Contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 21,307,000,000 | 17,910,000,000 |
Contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 3,157,000,000 | 3,484,000,000 |
All other performing loans | 32,158,000,000 | 30,780,000,000 |
Contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 1,875,000,000 | 2,771,000,000 |
Fair value | ||
Loans | ||
Nonaccrual loans | 726,000,000 | 638,000,000 |
Total loans | 32,843,000,000 | 31,574,000,000 |
Long-term debt | ||
Long-term debt | 38,722,000,000 | 33,065,000,000 |
Long-term beneficial interests | ||
Long-term beneficial interests | 48,000,000 | 787,000,000 |
Fair value | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | 19,471,000,000 | 16,611,000,000 |
Fair value | Nonprincipal-protected debt | ||
Long-term debt | ||
Long-term debt | 19,251,000,000 | 16,454,000,000 |
Long-term beneficial interests | ||
Long-term beneficial interests | 48,000,000 | 787,000,000 |
Fair value | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 719,000,000 | 631,000,000 |
All other performing loans | 30,250,000,000 | 28,184,000,000 |
Fair value | Loans | ||
Loans | ||
Nonaccrual loans | 7,000,000 | 7,000,000 |
All other performing loans | 1,867,000,000 | 2,752,000,000 |
Fair value over/(under) contractual principal outstanding | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | (2,438,000,000) | (2,853,000,000) |
Total loans | (4,354,000,000) | (5,468,000,000) |
Fair value over/(under) contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Long-term debt | (1,836,000,000) | (1,299,000,000) |
Fair value over/(under) contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | (2,438,000,000) | (2,853,000,000) |
All other performing loans | (1,908,000,000) | (2,596,000,000) |
Fair value over/(under) contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | 0 | 0 |
All other performing loans | $ (8,000,000) | $ (19,000,000) |
Fair Value Option - Structured
Fair Value Option - Structured note products by balance sheet classification and risk component (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 58,489 | $ 51,928 |
Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 20,251 | 15,929 |
Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 4,175 | 3,742 |
Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 2,727 | 1,853 |
Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 29,102 | 27,733 |
Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 2,234 | 2,671 |
Long-term debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 38,196 | 32,424 |
Long-term debt | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 16,393 | 12,531 |
Long-term debt | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,509 | 3,195 |
Long-term debt | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 2,571 | 1,765 |
Long-term debt | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 15,116 | 14,293 |
Long-term debt | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 607 | 640 |
Other borrowed funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 9,720 | 9,179 |
Other borrowed funds | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 322 | 58 |
Other borrowed funds | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 666 | 547 |
Other borrowed funds | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 150 | 77 |
Other borrowed funds | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 8,527 | 8,447 |
Other borrowed funds | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 55 | 50 |
Deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 10,573 | 10,325 |
Deposits | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 3,536 | 3,340 |
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 | 6 | 11 |
Deposits | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | 5,459 | 4,993 |
Deposits | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Structured notes balance | $ 1,572 | $ 1,981 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amount of Derivative Contracts (Details) - USD ($) $ in Billions | Sep. 30, 2016 | Dec. 31, 2015 |
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 51,463 | $ 50,659 |
Interest rate contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 36,127 | 36,731 |
Interest rate swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 23,419 | 24,162 |
Interest rate futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 6,073 | 5,167 |
Interest rate options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,091 | 3,506 |
Interest rate options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,544 | 3,896 |
Credit derivative | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 2,545 | 2,900 |
Foreign exchange contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 11,079 | 9,623 |
Foreign exchange cross-currency swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,485 | 3,199 |
Foreign exchange spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 6,087 | 5,028 |
Foreign exchange options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 756 | 690 |
Foreign exchange options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 751 | 706 |
Equity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 1,260 | 996 |
Equity swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 274 | 232 |
Equity futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 65 | 43 |
Equity options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 491 | 395 |
Equity options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 430 | 326 |
Commodity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 452 | 409 |
Commodity swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 92 | 83 |
Commodity spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 149 | 99 |
Commodity options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 103 | 115 |
Commodity options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 108 | $ 112 |
Derivative Instruments - Impact
Derivative Instruments - Impact on Balance Sheet (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | $ 1,103,598 | $ 961,878 |
Net derivative receivables | 65,579 | 59,677 |
Gross derivative payables | 1,063,300 | 942,912 |
Net derivative payables | 48,143 | 52,790 |
Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 844,013 | 669,611 |
Net derivative receivables | 34,599 | 26,363 |
Gross derivative payables | 800,186 | 635,166 |
Net derivative payables | 13,260 | 10,221 |
Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 35,607 | 51,468 |
Net derivative receivables | 810 | 1,423 |
Gross derivative payables | 35,305 | 50,529 |
Net derivative payables | 1,271 | 1,541 |
Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 167,035 | 179,875 |
Net derivative receivables | 16,838 | 17,177 |
Gross derivative payables | 165,420 | 190,900 |
Net derivative payables | 15,530 | 19,769 |
Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 37,901 | 35,859 |
Net derivative receivables | 6,859 | 5,529 |
Gross derivative payables | 40,294 | 38,663 |
Net derivative payables | 8,523 | 9,183 |
Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 19,042 | 25,065 |
Net derivative receivables | 6,473 | 9,185 |
Gross derivative payables | 22,095 | 27,654 |
Net derivative payables | 9,559 | 12,076 |
Not designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 1,095,803 | 955,643 |
Gross derivative payables | 1,058,819 | 939,170 |
Not designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 836,839 | 665,531 |
Gross derivative payables | 796,860 | 632,928 |
Not designated as hedges | Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 35,607 | 51,468 |
Gross derivative payables | 35,305 | 50,529 |
Not designated as hedges | Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 166,547 | 179,072 |
Gross derivative payables | 164,385 | 189,397 |
Not designated as hedges | Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 37,901 | 35,859 |
Gross derivative payables | 40,294 | 38,663 |
Not designated as hedges | Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 18,909 | 23,713 |
Gross derivative payables | 21,975 | 27,653 |
Designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 7,795 | 6,235 |
Gross derivative payables | 4,481 | 3,742 |
Designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 7,174 | 4,080 |
Gross derivative payables | 3,326 | 2,238 |
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 | 488 | 803 |
Gross derivative payables | 1,035 | 1,503 |
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 | 133 | 1,352 |
Gross derivative payables | $ 120 | $ 1 |
Derivative Instruments - Deriva
Derivative Instruments - Derivatives Netting (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | $ 1,090,434 | $ 947,642 |
Amounts netted on the Consolidated balance sheets | (1,038,019) | (902,201) |
Net derivative receivables | 52,415 | 45,441 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 13,164 | 14,236 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 1,103,598 | 961,878 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 65,579 | 59,677 |
Amounts not nettable on the Consolidated balance sheets | (16,178) | (13,543) |
Net amounts | 49,401 | 46,134 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 1,052,052 | 930,717 |
Amounts netted on the Consolidated balance sheets | (1,015,157) | (890,122) |
Net derivative payables | 36,895 | 40,595 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 11,248 | 12,195 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 1,063,300 | 942,912 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 48,143 | 52,790 |
Amounts not nettable on the Consolidated balance sheet | (10,121) | (7,957) |
Net amounts | 38,022 | 44,833 |
Net cash collateral payables | 88,500 | 73,700 |
Netted cash collateral receivables | 65,600 | 61,600 |
Interest rate contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 837,130 | 664,136 |
Amounts netted on the Consolidated balance sheets | (809,416) | (643,248) |
Net derivative receivables | 27,714 | 20,888 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 844,013 | 669,611 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 34,599 | 26,363 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 798,543 | 634,107 |
Amounts netted on the Consolidated balance sheets | (786,925) | (624,945) |
Net derivative payables | 11,618 | 9,162 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 800,186 | 635,166 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 13,260 | 10,221 |
Interest rate contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 489,501 | 417,386 |
Amounts netted on the Consolidated balance sheets | (461,990) | (396,506) |
Net derivative receivables | 27,511 | 20,880 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 456,267 | 393,709 |
Amounts netted on the Consolidated balance sheets | (444,852) | (384,576) |
Net derivative payables | 11,415 | 9,133 |
Interest rate contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 347,445 | 246,750 |
Amounts netted on the Consolidated balance sheets | (347,371) | (246,742) |
Net derivative receivables | 74 | 8 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 342,194 | 240,398 |
Amounts netted on the Consolidated balance sheets | (342,018) | (240,369) |
Net derivative payables | 176 | 29 |
Interest rate contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 184 | 0 |
Amounts netted on the Consolidated balance sheets | (55) | 0 |
Net derivative receivables | 129 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 82 | 0 |
Amounts netted on the Consolidated balance sheets | (55) | 0 |
Net derivative payables | 27 | 0 |
Credit contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 35,126 | 50,948 |
Amounts netted on the Consolidated balance sheets | (34,797) | (50,045) |
Net derivative receivables | 329 | 903 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 35,607 | 51,468 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 810 | 1,423 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 34,808 | 50,348 |
Amounts netted on the Consolidated balance sheets | (34,034) | (48,988) |
Net derivative payables | 774 | 1,360 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 35,305 | 50,529 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 1,271 | 1,541 |
Credit contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 28,304 | 44,082 |
Amounts netted on the Consolidated balance sheets | (27,993) | (43,182) |
Net derivative receivables | 311 | 900 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 28,174 | 44,379 |
Amounts netted on the Consolidated balance sheets | (27,400) | (43,019) |
Net derivative payables | 774 | 1,360 |
Credit contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 6,822 | 6,866 |
Amounts netted on the Consolidated balance sheets | (6,804) | (6,863) |
Net derivative receivables | 18 | 3 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 6,634 | 5,969 |
Amounts netted on the Consolidated balance sheets | (6,634) | (5,969) |
Net derivative payables | 0 | 0 |
Foreign exchange contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 163,184 | 175,383 |
Amounts netted on the Consolidated balance sheets | (150,196) | (162,698) |
Net derivative receivables | 12,988 | 12,685 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 167,035 | 179,875 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 16,838 | 17,177 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 161,018 | 185,479 |
Amounts netted on the Consolidated balance sheets | (149,890) | (171,131) |
Net derivative payables | 11,128 | 14,348 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 165,420 | 190,900 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 15,530 | 19,769 |
Foreign exchange contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 162,056 | 175,060 |
Amounts netted on the Consolidated balance sheets | (149,376) | (162,377) |
Net derivative receivables | 12,680 | 12,683 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 159,983 | 185,178 |
Amounts netted on the Consolidated balance sheets | (149,151) | (170,830) |
Net derivative payables | 10,832 | 14,348 |
Foreign exchange contracts | OTC-cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 1,033 | 323 |
Amounts netted on the Consolidated balance sheets | (801) | (321) |
Net derivative receivables | 232 | 2 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 723 | 301 |
Amounts netted on the Consolidated balance sheets | (723) | (301) |
Net derivative payables | 0 | 0 |
Foreign exchange contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 95 | 0 |
Amounts netted on the Consolidated balance sheets | (19) | 0 |
Net derivative receivables | 76 | 0 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 312 | 0 |
Amounts netted on the Consolidated balance sheets | (16) | 0 |
Net derivative payables | 296 | 0 |
Equity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 36,369 | 32,975 |
Amounts netted on the Consolidated balance sheets | (31,041) | (30,330) |
Net derivative receivables | 5,328 | 2,645 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 37,901 | 35,859 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 6,859 | 5,529 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 36,964 | 34,456 |
Amounts netted on the Consolidated balance sheets | (31,772) | (29,480) |
Net derivative payables | 5,192 | 4,976 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 40,294 | 38,663 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 8,523 | 9,183 |
Equity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 21,758 | 20,690 |
Amounts netted on the Consolidated balance sheets | (20,056) | (20,439) |
Net derivative receivables | 1,702 | 251 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 25,339 | 23,458 |
Amounts netted on the Consolidated balance sheets | (20,858) | (19,589) |
Net derivative payables | 4,481 | 3,869 |
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 | 14,611 | 12,285 |
Amounts netted on the Consolidated balance sheets | (10,985) | (9,891) |
Net derivative receivables | 3,626 | 2,394 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 11,625 | 10,998 |
Amounts netted on the Consolidated balance sheets | (10,914) | (9,891) |
Net derivative payables | 711 | 1,107 |
Commodity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 18,625 | 24,200 |
Amounts netted on the Consolidated balance sheets | (12,569) | (15,880) |
Net derivative receivables | 6,056 | 8,320 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 19,042 | 25,065 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 6,473 | 9,185 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 20,719 | 26,327 |
Amounts netted on the Consolidated balance sheets | (12,536) | (15,578) |
Net derivative payables | 8,183 | 10,749 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 22,095 | 27,654 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 9,559 | 12,076 |
Commodity contracts | OTC | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 10,939 | 15,001 |
Amounts netted on the Consolidated balance sheets | (5,168) | (6,772) |
Net derivative receivables | 5,771 | 8,229 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 13,015 | 16,953 |
Amounts netted on the Consolidated balance sheets | (5,061) | (6,256) |
Net derivative payables | 7,954 | 10,697 |
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 | 7,686 | 9,199 |
Amounts netted on the Consolidated balance sheets | (7,401) | (9,108) |
Net derivative receivables | 285 | 91 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 7,704 | 9,374 |
Amounts netted on the Consolidated balance sheets | (7,475) | (9,322) |
Net derivative payables | $ 229 | $ 52 |
Derivative Instruments - Liquid
Derivative Instruments - Liquidity Risk and Credit-Related Contingent Features (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Aggregate fair value of net derivative payables | $ 23,174 | $ 22,328 |
Collateral posted | 20,327 | 18,942 |
Single-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 419 | 807 |
Amount required to settle contracts with termination triggers upon downgrade | 303 | 271 |
Two-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 2,381 | 3,028 |
Amount required to settle contracts with termination triggers upon downgrade | $ 809 | $ 1,093 |
Derivative Instruments - Impa70
Derivative Instruments - Impact on Statements of Income, Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Gains/(losses) recorded in income | ||||
Derivatives | $ (578) | $ 2,613 | $ 1,819 | $ 6,599 |
Hedged items | 853 | (2,340) | (1,067) | (5,844) |
Total income statement impact | 275 | 273 | 752 | 755 |
Income statement impact due to: | ||||
Hedge ineffectiveness | 8 | 5 | 25 | (8) |
Excluded components | 267 | 268 | 727 | 763 |
Interest rate | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (232) | 1,298 | 2,049 | 363 |
Hedged items | 430 | (1,071) | (1,478) | 390 |
Total income statement impact | 198 | 227 | 571 | 753 |
Income statement impact due to: | ||||
Hedge ineffectiveness | 7 | 8 | 36 | 6 |
Excluded components | 191 | 219 | 535 | 747 |
Foreign exchange | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (143) | 1,012 | 46 | 5,369 |
Hedged items | 194 | (998) | 104 | (5,360) |
Total income statement impact | 51 | 14 | 150 | 9 |
Income statement impact due to: | ||||
Hedge ineffectiveness | 0 | 0 | 0 | 0 |
Excluded components | 51 | 14 | 150 | 9 |
Commodity | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (203) | 303 | (276) | 867 |
Hedged items | 229 | (271) | 307 | (874) |
Total income statement impact | 26 | 32 | 31 | (7) |
Income statement impact due to: | ||||
Hedge ineffectiveness | 1 | (3) | (11) | (14) |
Excluded components | $ 25 | $ 35 | $ 42 | $ 7 |
Derivative Instruments - Impa71
Derivative Instruments - Impact on Statements of Income, Cash Flow Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
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 | $ 196 | ||||
Maximum Length of Time Hedged in Cash Flow Hedge, Terminated Cash Flow Hedge | 7 years | ||||
Maximum Length of Time Hedged in Cash Flow Hedge, Open Cash Flow Hedge | 1 year | ||||
Cash Flow Hedging | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | $ (122) | $ (5) | $ (225) | $ (187) | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (122) | (5) | (225) | (187) | |
Derivatives – effective portion recorded in OCI | (64) | (175) | (418) | (104) | |
Total change in OCI for period | 58 | (170) | (193) | 83 | |
Cash Flow Hedging | Interest rate | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | (18) | 14 | (58) | (113) | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (18) | 14 | (58) | (113) | |
Derivatives – effective portion recorded in OCI | 22 | (70) | (78) | (90) | |
Total change in OCI for period | 40 | (84) | (20) | 23 | |
Cash Flow Hedging | Foreign exchange | |||||
Gains/(losses) recorded in income and other comprehensive income/(loss) | |||||
Derivatives – effective portion reclassified from AOCI to income | (104) | (19) | (167) | (74) | |
Hedge ineffectiveness recorded directly in income | 0 | 0 | 0 | 0 | |
Total income statement impact | (104) | (19) | (167) | (74) | |
Derivatives – effective portion recorded in OCI | (86) | (105) | (340) | (14) | |
Total change in OCI for period | $ 18 | $ (86) | $ (173) | $ 60 |
Derivative Instruments - Impa72
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net investment hedge gains and losses [Abstract] | ||||
Excluded components recorded directly in income | $ (69) | $ (103) | $ (219) | $ (292) |
Effective portion recorded in OCI | $ (30) | $ 908 | $ (603) | $ 1,651 |
Derivative Instruments - Impa73
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 226 | $ 767 | $ 1,710 | $ 845 |
Interest rate | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | 312 | 665 | 1,956 | 785 |
Credit | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | (84) | 76 | (244) | 52 |
Foreign exchange | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | (2) | 26 | (2) | 21 |
Commodity | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 0 | $ 0 | $ 0 | $ (13) |
Derivative Instruments - Credit
Derivative Instruments - Credit Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Total credit derivatives and credit-related notes | ||
Protection sold | $ (1,246,234) | $ (1,428,839) |
Protection purchased with identical underlyings | 1,266,138 | 1,440,359 |
Net protection (sold)/purchased | 19,904 | 11,520 |
Other protection purchased | 37,398 | 35,518 |
Total credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,246,206) | (1,428,809) |
Protection purchased with identical underlyings | 1,266,138 | 1,440,359 |
Net protection (sold)/purchased | 19,932 | 11,550 |
Other protection purchased | 32,275 | 30,803 |
Credit default swaps | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (1,217,087) | (1,386,071) |
Protection purchased with identical underlyings | 1,230,857 | 1,402,201 |
Net protection (sold)/purchased | 13,770 | 16,130 |
Other protection purchased | 8,587 | 12,011 |
Other credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (29,119) | (42,738) |
Protection purchased with identical underlyings | 35,281 | 38,158 |
Net protection (sold)/purchased | 6,162 | (4,580) |
Other protection purchased | 23,688 | 18,792 |
Credit-related notes | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (28) | (30) |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | (28) | (30) |
Other protection purchased | $ 5,123 | $ 4,715 |
Derivative Instruments - Cred75
Derivative Instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
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 | $ (409,176) | $ (416,406) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (727,784) | (944,378) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (109,274) | (68,055) |
Total notional amount | (1,246,234) | (1,428,839) |
Fair value of receivables | 20,440 | 24,362 |
Fair value of payables | (14,827) | (25,727) |
Net fair value | 5,613 | (1,365) |
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 | (276,853) | (307,211) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (515,954) | (699,227) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (76,261) | (46,970) |
Total notional amount | (869,068) | (1,053,408) |
Fair value of receivables | 10,084 | 13,539 |
Fair value of payables | (3,936) | (6,836) |
Net fair value | 6,148 | 6,703 |
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 | (132,323) | (109,195) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (211,830) | (245,151) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (33,013) | (21,085) |
Total notional amount | (377,166) | (375,431) |
Fair value of receivables | 10,356 | 10,823 |
Fair value of payables | (10,891) | (18,891) |
Net fair value | $ (535) | $ (8,068) |
Noninterest Revenue - Investmen
Noninterest Revenue - Investment Banking Fees (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | $ 1,327 | $ 1,112 | $ 3,258 | $ 3,729 |
Advisory | 539 | 492 | 1,585 | 1,502 |
Total investment banking fees | 1,866 | 1,604 | 4,843 | 5,231 |
Equity | ||||
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | 369 | 257 | 854 | 1,108 |
Debt | ||||
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | $ 958 | $ 855 | $ 2,404 | $ 2,621 |
Noninterest Revenue - Principal
Noninterest Revenue - Principal Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Principal transactions revenue | ||||
Trading revenue | $ 3,330 | $ 2,368 | $ 8,875 | $ 8,665 |
Private equity gains | 121 | (1) | 231 | 191 |
Principal transactions | 3,451 | 2,367 | 9,106 | 8,856 |
Interest rate | ||||
Principal transactions revenue | ||||
Trading revenue | 825 | 530 | 1,843 | 1,836 |
Credit | ||||
Principal transactions revenue | ||||
Trading revenue | 549 | 438 | 1,652 | 1,477 |
Foreign exchange | ||||
Principal transactions revenue | ||||
Trading revenue | 818 | 607 | 2,101 | 2,014 |
Equity | ||||
Principal transactions revenue | ||||
Trading revenue | 893 | 637 | 2,584 | 2,593 |
Commodity | ||||
Principal transactions revenue | ||||
Trading revenue | $ 245 | $ 156 | $ 695 | $ 745 |
Noninterest Revenue - Asset Man
Noninterest Revenue - Asset Management, Administration and Commissions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Asset management fees | ||||
Investment management fees | $ 2,203 | $ 2,327 | $ 6,541 | $ 7,017 |
All other asset management fees | 90 | 92 | 277 | 290 |
Total asset management fees | 2,293 | 2,419 | 6,818 | 7,307 |
Total administration fees | 478 | 486 | 1,444 | 1,520 |
Commission and other fees | ||||
Brokerage commissions | 505 | 575 | 1,628 | 1,761 |
All other commissions and fees | 321 | 365 | 1,012 | 1,079 |
Total commissions and fees | 826 | 940 | 2,640 | 2,840 |
Total asset management, administration and commissions | $ 3,597 | $ 3,845 | $ 10,902 | $ 11,667 |
Noninterest Revenue - Other Inc
Noninterest Revenue - Other Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Noninterest Income [Abstract] | ||||
Operating lease income | $ 708 | $ 536 | $ 1,974 | $ 1,509 |
Interest Income and Interest 80
Interest Income and Interest Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income | ||||
Loans | $ 9,237 | $ 8,433 | $ 27,065 | $ 24,459 |
Taxable securities | 1,365 | 1,553 | 4,187 | 4,885 |
Non-taxable securities | 436 | 439 | 1,321 | 1,260 |
Total securities | 1,801 | 1,992 | 5,508 | 6,145 |
Trading assets | 1,890 | 1,538 | 5,448 | 5,008 |
Federal funds sold and securities purchased under resale agreements | 566 | 431 | 1,696 | 1,167 |
Securities borrowed | (91) | (118) | (279) | (397) |
Deposits with banks | 448 | 291 | 1,374 | 944 |
Other assets | 219 | 172 | 623 | 492 |
Total interest income | 14,070 | 12,739 | 41,435 | 37,818 |
Interest expense | ||||
Interest-bearing deposits | 340 | 293 | 981 | 965 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 286 | 159 | 828 | 444 |
Commercial paper | 34 | 24 | 105 | 88 |
Trading liabilities – debt, short-term and other liabilities | 285 | 132 | 826 | 459 |
Long-term debt | 1,387 | 1,092 | 3,999 | 3,254 |
Beneficial interests issued by consolidated VIEs | 135 | 115 | 366 | 323 |
Total interest expense | 2,467 | 1,815 | 7,105 | 5,533 |
Net interest income | 11,603 | 10,924 | 34,330 | 32,285 |
Provision for credit losses | 1,271 | 682 | 4,497 | 2,576 |
Net interest income after provision for credit losses | $ 10,332 | $ 10,242 | $ 29,833 | $ 29,709 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Pension plans, U.S. | ||||
Amortization: | ||||
Total defined contribution plans | $ 123 | $ 119 | $ 345 | $ 323 |
Pension plans, Non-U.S. | ||||
Amortization: | ||||
Total defined contribution plans | 80 | 85 | 249 | 254 |
Pension plans, U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 74 | 85 | 221 | 255 |
Interest cost on benefit obligations | 133 | 125 | 399 | 375 |
Expected return on plan assets | (223) | (232) | (668) | (697) |
Amortization: | ||||
Net (gain)/loss | 59 | 62 | 176 | 185 |
Prior service cost/(credit) | (9) | (9) | (26) | (26) |
Net periodic defined benefit cost | 34 | 31 | 102 | 92 |
Other defined benefit pension plans | 3 | 3 | 10 | 10 |
Total defined benefit plans | 37 | 34 | 112 | 102 |
Total pension and OPEB cost included in compensation expense | 160 | 153 | 457 | 425 |
Pension plans, Non-U.S. | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 9 | 9 | 27 | 28 |
Interest cost on benefit obligations | 21 | 28 | 71 | 84 |
Expected return on plan assets | (32) | (38) | (102) | (113) |
Amortization: | ||||
Net (gain)/loss | 6 | 9 | 17 | 27 |
Prior service cost/(credit) | 0 | 0 | (1) | (1) |
Net periodic defined benefit cost | 4 | 8 | 12 | 25 |
Other defined benefit pension plans | 3 | 2 | 8 | 7 |
Total defined benefit plans | 7 | 10 | 20 | 32 |
Total pension and OPEB cost included in compensation expense | 87 | 95 | 269 | 286 |
OPEB plans | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost on benefit obligations | 7 | 8 | 22 | 24 |
Expected return on plan assets | (26) | (27) | (78) | (80) |
Amortization: | ||||
Net (gain)/loss | 0 | 0 | 0 | 0 |
Prior service cost/(credit) | 0 | 0 | 0 | 0 |
Net periodic defined benefit cost | (19) | (19) | (56) | (56) |
Total defined benefit plans | (19) | (19) | (56) | (56) |
Total pension and OPEB cost included in compensation expense | $ (19) | $ (19) | $ (56) | $ (56) |
Pension and Other Postretirem82
Pension and Other Postretirement Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Non-U.S. defined benefit pension plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | $ 3,700 | $ 3,500 |
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 | |
United States | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | 16,200 | $ 16,000 |
United States | U.S. non-qualified defined benefit pension plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit pension plan, non-U.S., expected contribution | $ 33 |
Employee Stock-based Incentiv83
Employee Stock-based Incentives - Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods | $ 257 | $ 269 | $ 808 | $ 856 |
Accrual of estimated costs of stock-based awards to be granted in future periods including those to full-career eligible employees | 230 | 195 | 752 | 683 |
Total noncash compensation expense related to employee stock-based incentive plans | $ 487 | $ 464 | $ 1,560 | $ 1,539 |
Employee Stock-based Incentiv84
Employee Stock-based Incentives - Narrative (Details) - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended |
Mar. 31, 2016 | Sep. 30, 2016 | |
RSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Grants in period (in shares) | 33,000 | |
Grants in period, weighted average grant date fair value (in dollars per share) | $ 57.24 | |
PSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Grants in period (in shares) | 926 | |
Grants in period, weighted average grant date fair value (in dollars per share) | $ 57.24 | |
Vesting period | 3 years | |
Holding period | 2 years | |
Combined vesting and holding period | 5 years | |
PSUs | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting percentage of grant amount | 0.00% | |
PSUs | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting percentage of grant amount | 150.00% |
Noninterest Expense (Details)
Noninterest Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Noninterest Expense [Abstract] | ||||
Legal expense/(benefit) | $ (71) | $ 1,347 | $ (547) | $ 2,325 |
FDIC-related expense | $ 360 | $ 298 | $ 912 | $ 916 |
Securities - Narrative (Details
Securities - Narrative (Details) $ in Millions | Sep. 30, 2016USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Fair value of securities transferred from AFS to HTM | $ 7,500 |
Net pretax unrealized gains at the date of transfer | $ 78 |
Securities - Amortized Costs an
Securities - Amortized Costs and Estimated Fair Values (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Available-for-sale debt securities | ||
Amortized cost | $ 212,283 | $ 235,391 |
Gross unrealized gains | 6,489 | 5,386 |
Gross unrealized losses | 468 | 1,110 |
Fair value | 218,304 | 239,667 |
Available-for-sale equity securities | ||
Amortized cost | 2,065 | 2,067 |
Gross unrealized gains | 21 | 20 |
Gross unrealized losses | 0 | 0 |
Fair value | 2,086 | 2,087 |
Total available-for-sale securities | ||
Amortized cost | 214,348 | 237,458 |
Gross unrealized gains | 6,510 | 5,406 |
Gross unrealized losses | 468 | 1,110 |
Fair value | 220,390 | 241,754 |
Held-to-maturity debt securities | ||
Amortized cost | 52,011 | 49,073 |
Gross unrealized gains | 2,728 | 1,560 |
Gross unrealized losses | 6 | 46 |
Fair value | 54,733 | 50,587 |
Total securities | ||
Amortized cost | 266,359 | 286,531 |
Gross unrealized gains | 9,238 | 6,966 |
Gross unrealized losses | 474 | 1,156 |
Fair value | 275,123 | 292,341 |
Total mortgage-backed securities | ||
Available-for-sale debt securities | ||
Amortized cost | 81,991 | 103,980 |
Gross unrealized gains | 2,345 | 2,021 |
Gross unrealized losses | 84 | 419 |
Fair value | 84,252 | 105,582 |
Held-to-maturity debt securities | ||
Amortized cost | 37,522 | 36,271 |
Gross unrealized gains | 1,723 | 852 |
Gross unrealized losses | 0 | 42 |
Fair value | 39,245 | 37,081 |
U.S. government agencies | ||
Available-for-sale debt securities | ||
Amortized cost | 54,961 | 53,689 |
Gross unrealized gains | 1,876 | 1,483 |
Gross unrealized losses | 15 | 106 |
Fair value | 56,822 | 55,066 |
Held-to-maturity debt securities | ||
Amortized cost | 31,730 | 36,271 |
Gross unrealized gains | 1,599 | 852 |
Gross unrealized losses | 0 | 42 |
Fair value | 33,329 | 37,081 |
Residential: Prime and Alt-A | Residential mortgage-backed securities | ||
Available-for-sale debt securities | ||
Amortized cost | 6,269 | 7,462 |
Gross unrealized gains | 86 | 40 |
Gross unrealized losses | 24 | 57 |
Fair value | 6,331 | 7,445 |
Residential: Subprime | Residential mortgage-backed securities | ||
Available-for-sale debt securities | ||
Amortized cost | 2,582 | 210 |
Gross unrealized gains | 22 | 7 |
Gross unrealized losses | 0 | 0 |
Fair value | 2,604 | 217 |
Residential: Non-U.S. | Residential mortgage-backed securities | ||
Available-for-sale debt securities | ||
Amortized cost | 6,801 | 19,629 |
Gross unrealized gains | 180 | 341 |
Gross unrealized losses | 10 | 13 |
Fair value | 6,971 | 19,957 |
Commercial | ||
Available-for-sale debt securities | ||
Amortized cost | 11,378 | 22,990 |
Gross unrealized gains | 181 | 150 |
Gross unrealized losses | 35 | 243 |
Fair value | 11,524 | 22,897 |
Held-to-maturity debt securities | ||
Amortized cost | 5,792 | 0 |
Gross unrealized gains | 124 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | 5,916 | 0 |
U.S. Treasury and government agencies | ||
Available-for-sale debt securities | ||
Amortized cost | 21,674 | 11,202 |
Gross unrealized gains | 52 | 0 |
Gross unrealized losses | 218 | 166 |
Fair value | 21,508 | 11,036 |
Obligations of U.S. states and municipalities | ||
Available-for-sale debt securities | ||
Amortized cost | 28,685 | 31,328 |
Gross unrealized gains | 2,728 | 2,245 |
Gross unrealized losses | 10 | 23 |
Fair value | 31,403 | 33,550 |
Held-to-maturity debt securities | ||
Amortized cost | 14,489 | 12,802 |
Gross unrealized gains | 1,005 | 708 |
Gross unrealized losses | 6 | 4 |
Fair value | 15,488 | 13,506 |
Certificates of deposit | ||
Available-for-sale debt securities | ||
Amortized cost | 108 | 282 |
Gross unrealized gains | 0 | 1 |
Gross unrealized losses | 0 | 0 |
Fair value | 108 | 283 |
Non-U.S. government debt securities | ||
Available-for-sale debt securities | ||
Amortized cost | 36,120 | 35,864 |
Gross unrealized gains | 1,150 | 853 |
Gross unrealized losses | 17 | 41 |
Fair value | 37,253 | 36,676 |
Corporate debt securities | ||
Available-for-sale debt securities | ||
Amortized cost | 5,336 | 12,464 |
Gross unrealized gains | 76 | 142 |
Gross unrealized losses | 29 | 170 |
Fair value | 5,383 | 12,436 |
Asset-backed securities: Collateralized loan obligations | ||
Available-for-sale debt securities | ||
Amortized cost | 30,688 | 31,146 |
Gross unrealized gains | 76 | 52 |
Gross unrealized losses | 43 | 191 |
Fair value | 30,721 | 31,007 |
Asset-backed securities: Other | ||
Available-for-sale debt securities | ||
Amortized cost | 7,681 | 9,125 |
Gross unrealized gains | 62 | 72 |
Gross unrealized losses | 67 | 100 |
Fair value | 7,676 | 9,097 |
U.S. government-sponsored enterprise obligations | ||
Total available-for-sale securities | ||
Fair value | 37,500 | 42,300 |
Held-to-maturity debt securities | ||
Amortized cost | $ 27,100 | $ 30,800 |
Securities - Fair Value and Gro
Securities - Fair Value and Gross Unrealized Losses by Aging Category (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | $ 824 | $ 3,763 |
Less than 12 months, Gross unrealized losses | 6 | 46 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 824 | 3,763 |
Total gross unrealized losses | 6 | 46 |
Total securities with gross unrealized losses | ||
Less than 12 months, Fair value | 31,500 | 76,475 |
Less than 12 months, Gross unrealized losses | 322 | 905 |
12 months or more, Fair value | 14,174 | 14,877 |
12 months or more, Gross unrealized losses | 152 | 251 |
Total fair value | 45,674 | 91,352 |
Total gross unrealized losses | 474 | 1,156 |
Total debt instruments | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 30,676 | 72,712 |
Less than 12 months, Gross unrealized losses | 316 | 859 |
12 months or more, Fair Value | 14,174 | 14,877 |
12 months or more, Gross unrealized losses | 152 | 251 |
Total fair value | 44,850 | 87,589 |
Total gross unrealized losses | 468 | 1,110 |
Total mortgage-backed securities | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 6,647 | 33,949 |
Less than 12 months, Gross unrealized losses | 42 | 397 |
12 months or more, Fair Value | 3,688 | 1,760 |
12 months or more, Gross unrealized losses | 42 | 22 |
Total fair value | 10,335 | 35,709 |
Total gross unrealized losses | 84 | 419 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 0 | 3,294 |
Less than 12 months, Gross unrealized losses | 0 | 42 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 3,294 |
Total gross unrealized losses | 0 | 42 |
U.S. government agencies | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 2,428 | 13,002 |
Less than 12 months, Gross unrealized losses | 6 | 95 |
12 months or more, Fair Value | 458 | 697 |
12 months or more, Gross unrealized losses | 9 | 11 |
Total fair value | 2,886 | 13,699 |
Total gross unrealized losses | 15 | 106 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 0 | 3,294 |
Less than 12 months, Gross unrealized losses | 0 | 42 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 3,294 |
Total gross unrealized losses | 0 | 42 |
Residential: Prime and Alt-A | Residential mortgage-backed securities | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 660 | 5,147 |
Less than 12 months, Gross unrealized losses | 6 | 51 |
12 months or more, Fair Value | 1,036 | 238 |
12 months or more, Gross unrealized losses | 18 | 6 |
Total fair value | 1,696 | 5,385 |
Total gross unrealized losses | 24 | 57 |
Residential: Subprime | Residential mortgage-backed securities | ||
Available-for-sale debt securities | ||
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 debt securities | ||
Less than 12 months, Fair value | 354 | 2,021 |
Less than 12 months, Gross unrealized losses | 1 | 12 |
12 months or more, Fair Value | 886 | 167 |
12 months or more, Gross unrealized losses | 9 | 1 |
Total fair value | 1,240 | 2,188 |
Total gross unrealized losses | 10 | 13 |
Commercial | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 3,205 | 13,779 |
Less than 12 months, Gross unrealized losses | 29 | 239 |
12 months or more, Fair Value | 1,308 | 658 |
12 months or more, Gross unrealized losses | 6 | 4 |
Total fair value | 4,513 | 14,437 |
Total gross unrealized losses | 35 | 243 |
Held-to-maturity securities | ||
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 |
U.S. Treasury and government agencies | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 17,595 | 10,998 |
Less than 12 months, Gross unrealized losses | 218 | 166 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 17,595 | 10,998 |
Total gross unrealized losses | 218 | 166 |
Obligations of U.S. states and municipalities | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 685 | 1,676 |
Less than 12 months, Gross unrealized losses | 9 | 18 |
12 months or more, Fair Value | 49 | 205 |
12 months or more, Gross unrealized losses | 1 | 5 |
Total fair value | 734 | 1,881 |
Total gross unrealized losses | 10 | 23 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 824 | 469 |
Less than 12 months, Gross unrealized losses | 6 | 4 |
12 months or more, Fair value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 824 | 469 |
Total gross unrealized losses | 6 | 4 |
Certificates of deposit | ||
Available-for-sale debt securities | ||
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 |
Non-U.S. government debt securities | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 2,559 | 3,267 |
Less than 12 months, Gross unrealized losses | 6 | 26 |
12 months or more, Fair Value | 430 | 367 |
12 months or more, Gross unrealized losses | 11 | 15 |
Total fair value | 2,989 | 3,634 |
Total gross unrealized losses | 17 | 41 |
Corporate debt securities | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 0 | 3,198 |
Less than 12 months, Gross unrealized losses | 0 | 125 |
12 months or more, Fair Value | 977 | 848 |
12 months or more, Gross unrealized losses | 29 | 45 |
Total fair value | 977 | 4,046 |
Total gross unrealized losses | 29 | 170 |
Asset-backed securities: Collateralized loan obligations | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 1,226 | 15,340 |
Less than 12 months, Gross unrealized losses | 1 | 67 |
12 months or more, Fair Value | 7,936 | 10,692 |
12 months or more, Gross unrealized losses | 42 | 124 |
Total fair value | 9,162 | 26,032 |
Total gross unrealized losses | 43 | 191 |
Asset-backed securities: Other | ||
Available-for-sale debt securities | ||
Less than 12 months, Fair value | 1,964 | 4,284 |
Less than 12 months, Gross unrealized losses | 40 | 60 |
12 months or more, Fair Value | 1,094 | 1,005 |
12 months or more, Gross unrealized losses | 27 | 40 |
Total fair value | 3,058 | 5,289 |
Total gross unrealized losses | 67 | 100 |
Available-for-sale equity securities | ||
Available-for-sale debt securities | ||
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 Gains and
Securities - Realized Gains and Losses and OTTI Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Securities gains and losses | ||||
Realized gains | $ 95 | $ 65 | $ 284 | $ 250 |
Realized losses | (22) | (20) | (110) | (107) |
OTTI losses | (9) | (12) | (38) | (14) |
Net securities gains | 64 | 33 | 136 | 129 |
Realized losses on securities previously reported as OTTI loss | 14 | |||
Credit-related losses recognized in income | ||||
Securities gains and losses | ||||
OTTI losses | 0 | 0 | (1) | (1) |
Securities the Firm intends to sell | ||||
Securities gains and losses | ||||
OTTI losses | $ (9) | $ (12) | $ (37) | $ (13) |
Securities - Amortized Cost and
Securities - Amortized Cost and Estimated Fair Value by Contractual Maturity (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 9,218 | |
Due after one year through five years, amortized cost | 25,516 | |
Due after five years through 10 years, amortized cost | 63,339 | |
Due after 10 years, amortized cost | 114,210 | |
Amortized cost | 212,283 | $ 235,391 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 9,258 | |
Due after one year through five years, fair value | 26,031 | |
Due after five years through 10 years, fair value | 64,235 | |
Due after 10 years, fair value | 118,780 | |
Fair value | $ 218,304 | 239,667 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 2.92% | |
Due after one year through five years, average yield | 1.55% | |
Due after five years through 10 years, average yield | 1.85% | |
Due after 10 years, average yield | 3.83% | |
Average yield | 2.93% | |
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 | 2,065 | |
Amortized cost | 2,065 | |
Available-for-sale equity securities, 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 | 2,086 | |
Fair value | $ 2,086 | |
Available-for-sale equity securities, 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 | 0.29% | |
Average yield | 0.29% | |
Total available-for-sale securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 9,218 | |
Due after one year through five years, amortized cost | 25,516 | |
Due after five years through 10 years, amortized cost | 63,339 | |
Due after 10 years, amortized cost | 116,275 | |
Amortized cost | 214,348 | 237,458 |
Total available-for-sale securities, Fair value | ||
Due in one year or less, fair value | 9,258 | |
Due after one year through five years, fair value | 26,031 | |
Due after five years through 10 years, fair value | 64,235 | |
Due after 10 years, fair value | 120,866 | |
Fair value | $ 220,390 | 241,754 |
Total available-for-sale securities, Average yield | ||
Due in one year or less, average yield | 2.92% | |
Due after one year through five years, average yield | 1.55% | |
Due after five years through 10 years, average yield | 1.85% | |
Due after 10 years, average yield | 3.77% | |
Available-for-sale securities, maturities, average yield, total | 2.90% | |
Total held-to-maturity securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 0 | |
Due after one year through five years, amortized cost | 29 | |
Due after five years through 10 years, amortized cost | 1,385 | |
Due after 10 years, amortized cost | 50,597 | |
Amortized cost | 52,011 | 49,073 |
Total held-to-maturity securities, Fair value | ||
Due in one year or less, fair value | 0 | |
Due after one year through five years, fair value | 30 | |
Due after five years through 10 years, fair value | 1,470 | |
Due after 10 years, fair value | 53,233 | |
Held-to-maturity Securities, Fair Value | $ 54,733 | 50,587 |
Total held-to-maturity securities, Average yield | ||
Due in one year or less, average yield | 0.00% | |
Due after one year through five years, average yield | 6.11% | |
Due after five years through 10 years, average yield | 5.08% | |
Due after 10 years, average yield | 3.92% | |
Held-to-maturity securities, maturities, average yield, total | 3.95% | |
Supplemental information | ||
US government agencies and US government sponsored enterprises residential MBS estimated duration | 5 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 | $ 1,577 | |
Due after one year through five years, amortized cost | 3,188 | |
Due after five years through 10 years, amortized cost | 8,327 | |
Due after 10 years, amortized cost | 68,899 | |
Amortized cost | 81,991 | 103,980 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 1,586 | |
Due after one year through five years, fair value | 3,269 | |
Due after five years through 10 years, fair value | 8,576 | |
Due after 10 years, fair value | 70,821 | |
Fair value | $ 84,252 | 105,582 |
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 | 2.27% | |
Due after five years through 10 years, average yield | 2.93% | |
Due after 10 years, average yield | 3.26% | |
Average yield | 3.17% | |
Total held-to-maturity 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 | 37,522 | |
Amortized cost | 37,522 | 36,271 |
Total held-to-maturity securities, 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 | 39,245 | |
Held-to-maturity Securities, Fair Value | $ 39,245 | 37,081 |
Total held-to-maturity securities, 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 | 3.31% | |
Held-to-maturity securities, maturities, average yield, total | 3.31% | |
U.S. Treasury and government agencies | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 75 | |
Due after one year through five years, amortized cost | 4,731 | |
Due after five years through 10 years, amortized cost | 15,531 | |
Due after 10 years, amortized cost | 1,337 | |
Amortized cost | 21,674 | 11,202 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 75 | |
Due after one year through five years, fair value | 4,714 | |
Due after five years through 10 years, fair value | 15,462 | |
Due after 10 years, fair value | 1,257 | |
Fair value | $ 21,508 | 11,036 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 0.43% | |
Due after one year through five years, average yield | 0.70% | |
Due after five years through 10 years, average yield | 1.22% | |
Due after 10 years, average yield | 0.91% | |
Average yield | 1.08% | |
Obligations of U.S. states and municipalities | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 123 | |
Due after one year through five years, amortized cost | 666 | |
Due after five years through 10 years, amortized cost | 1,045 | |
Due after 10 years, amortized cost | 26,851 | |
Amortized cost | 28,685 | 31,328 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 125 | |
Due after one year through five years, fair value | 688 | |
Due after five years through 10 years, fair value | 1,124 | |
Due after 10 years, fair value | 29,466 | |
Fair value | $ 31,403 | 33,550 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 6.15% | |
Due after one year through five years, average yield | 3.27% | |
Due after five years through 10 years, average yield | 6.25% | |
Due after 10 years, average yield | 6.66% | |
Average yield | 6.56% | |
Total held-to-maturity securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 0 | |
Due after one year through five years, amortized cost | 29 | |
Due after five years through 10 years, amortized cost | 1,385 | |
Due after 10 years, amortized cost | 13,075 | |
Amortized cost | 14,489 | 12,802 |
Total held-to-maturity securities, Fair value | ||
Due in one year or less, fair value | 0 | |
Due after one year through five years, fair value | 30 | |
Due after five years through 10 years, fair value | 1,470 | |
Due after 10 years, fair value | 13,988 | |
Held-to-maturity Securities, Fair Value | $ 15,488 | 13,506 |
Total held-to-maturity securities, Average yield | ||
Due in one year or less, average yield | 0.00% | |
Due after one year through five years, average yield | 6.11% | |
Due after five years through 10 years, average yield | 5.08% | |
Due after 10 years, average yield | 5.68% | |
Held-to-maturity securities, maturities, average yield, total | 5.62% | |
Certificates of deposit | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 108 | |
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 | 0 | |
Amortized cost | 108 | 282 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 108 | |
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 | 0 | |
Fair value | $ 108 | 283 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 1.76% | |
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 | 0.00% | |
Average yield | 1.76% | |
Non-U.S. government debt securities | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 5,777 | |
Due after one year through five years, amortized cost | 14,341 | |
Due after five years through 10 years, amortized cost | 13,917 | |
Due after 10 years, amortized cost | 2,085 | |
Amortized cost | 36,120 | 35,864 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 5,792 | |
Due after one year through five years, fair value | 14,734 | |
Due after five years through 10 years, fair value | 14,548 | |
Due after 10 years, fair value | 2,179 | |
Fair value | $ 37,253 | 36,676 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 2.94% | |
Due after one year through five years, average yield | 1.47% | |
Due after five years through 10 years, average yield | 0.92% | |
Due after 10 years, average yield | 0.48% | |
Average yield | 1.44% | |
Corporate debt securities | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 1,551 | |
Due after one year through five years, amortized cost | 2,025 | |
Due after five years through 10 years, amortized cost | 1,630 | |
Due after 10 years, amortized cost | 130 | |
Amortized cost | 5,336 | 12,464 |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 1,565 | |
Due after one year through five years, fair value | 2,058 | |
Due after five years through 10 years, fair value | 1,630 | |
Due after 10 years, fair value | 130 | |
Fair value | $ 5,383 | $ 12,436 |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 3.53% | |
Due after one year through five years, average yield | 2.67% | |
Due after five years through 10 years, average yield | 2.99% | |
Due after 10 years, average yield | 3.22% | |
Average yield | 3.03% | |
Asset-backed securities | ||
Available-for-sale debt securities, Amortized cost | ||
Due in one year or less, amortized cost | $ 7 | |
Due after one year through five years, amortized cost | 565 | |
Due after five years through 10 years, amortized cost | 22,889 | |
Due after 10 years, amortized cost | 14,908 | |
Amortized cost | 38,369 | |
Available-for-sale debt securities, Fair value | ||
Due in one year or less, fair value | 7 | |
Due after one year through five years, fair value | 568 | |
Due after five years through 10 years, fair value | 22,895 | |
Due after 10 years, fair value | 14,927 | |
Fair value | $ 38,397 | |
Available-for-sale debt securities, Average yield | ||
Due in one year or less, average yield | 2.47% | |
Due after one year through five years, average yield | 0.79% | |
Due after five years through 10 years, average yield | 2.17% | |
Due after 10 years, average yield | 2.08% | |
Average yield | 2.12% |
Securities Financing Activiti91
Securities Financing Activities - Gross and Net Amounts of Securities Financing Agreements (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Securities purchased under resale agreements, Gross amounts | $ 448,134,000,000 | $ 368,148,000,000 |
Securities purchased under resale agreements, Amounts netted on the Consolidated balance sheets | (215,572,000,000) | (156,258,000,000) |
Securities purchased under resale agreements, Amounts presented in the Consolidated balance sheets | 232,562,000,000 | 211,890,000,000 |
Securities purchased under resale agreements, Amounts not nettable on the Consolidated balance sheets | (226,850,000,000) | (207,958,000,000) |
Securities purchased under resale agreements, Net amounts | 5,712,000,000 | 3,932,000,000 |
Securities borrowed, Gross amounts/Amounts presented in the Consolidated balance sheets | 109,197,000,000 | 98,721,000,000 |
Securities borrowed, Amounts not nettable on the Consolidated balance sheets | (78,667,000,000) | (65,081,000,000) |
Securities borrowed, Net amounts | 30,530,000,000 | 33,640,000,000 |
Liabilities | ||
Securities sold under repurchase agreements, gross amounts | 367,383,000,000 | 290,044,000,000 |
Securities sold under repurchase agreements, Amounts netted on the Consolidated balance sheets | (215,572,000,000) | (156,258,000,000) |
Securities sold under repurchase agreements, Amounts presented on the Consolidated balance sheets | 151,811,000,000 | 133,786,000,000 |
Securities sold under repurchase agreements, Amounts not nettable on the Consolidated balance sheets | (132,431,000,000) | (119,332,000,000) |
Securities sold under repurchase agreements, Net amounts | 19,380,000,000 | 14,454,000,000 |
Securities loaned and other, Gross amounts | 23,002,000,000 | 22,556,000,000 |
Securities loaned and other, Amounts not nettable on the Consolidated balance sheets | (22,926,000,000) | (22,245,000,000) |
Securities loaned and other, Net amounts | 76,000,000 | 311,000,000 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained, Gross asset balance | 3,900,000,000 | 2,300,000,000 |
Securities borrowed where an appropriate legal opinion has not been either sought or obtained | 27,900,000,000 | 31,300,000,000 |
Securities sold under agreements to repurchase | 17,500,000,000 | 12,600,000,000 |
Securities loaned and other | 22,000,000 | 45,000,000 |
Securities-for-Securities | ||
Liabilities | ||
Securities lending transactions at fair value | 7,400,000,000 | 4,400,000,000 |
Securities Financing Transaction, Fair Value | ||
Assets | ||
Securities purchased under resale agreements, Amounts presented in the Consolidated balance sheets | 23,000,000,000 | 23,100,000,000 |
Liabilities | ||
Securities sold under repurchase agreements, Amounts presented on the Consolidated balance sheets | 1,400,000,000 | 3,500,000,000 |
Securities borrowed | 0 | 395,000,000 |
Securities loaned accounted for at fair value | $ 0 | |
Securities Financing Transaction, Fair Value | Securities loaned | ||
Liabilities | ||
Securities loaned accounted for at fair value | $ 0 |
Securities Financing Activiti92
Securities Financing Activities - Types of Financial Assets Pledged and Remaining Maturity (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | $ 367,383 | $ 290,044 |
Securities loaned and other | 23,002 | 22,556 |
Securities-for-Securities | ||
Securities Financing Transaction [Line Items] | ||
Lending transactions | 7,400 | 4,400 |
Overnight and continuous | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 141,524 | 114,595 |
Securities loaned and other | 11,460 | 8,320 |
Up to 30 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 132,267 | 100,082 |
Securities loaned and other | 647 | 708 |
30 – 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 41,871 | 29,955 |
Securities loaned and other | 1,588 | 793 |
Greater than 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 51,721 | 45,412 |
Securities loaned and other | 9,307 | 12,735 |
Mortgage-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 17,038 | 12,790 |
Securities loaned and other | 0 | 0 |
U.S. Treasury and government agencies | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 202,515 | 154,377 |
Securities loaned and other | 17 | 5 |
Obligations of U.S. states and municipalities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 2,076 | 1,316 |
Securities loaned and other | 0 | 0 |
Non-U.S. government debt | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 106,088 | 80,162 |
Securities loaned and other | 5,813 | 4,426 |
Corporate debt securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 19,754 | 21,286 |
Securities loaned and other | 86 | 78 |
Asset-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 5,139 | 4,394 |
Securities loaned and other | 0 | 0 |
Equity securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 14,773 | 15,719 |
Securities loaned and other | $ 17,086 | $ 18,047 |
Securities Financing Activiti93
Securities Financing Activities - Transfers Not Qualifying for Sale Accounting (Details) - USD ($) $ in Billions | Sep. 30, 2016 | Dec. 31, 2015 |
Securities Financing Transactions Disclosures [Abstract] | ||
Transfers not qualifying for sale accounting | $ 5.8 | $ 7.5 |
Loans - By Portfolio Segment (D
Loans - By Portfolio Segment (Details) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016USD ($)loan_segment | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of portfolio segments | loan_segment | 3 | ||
Loan balances by portfolio segment: | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Held-for-sale | 2,950 | 1,646 | |
At fair value | 1,911 | 2,861 | |
Total | 888,054 | 837,299 | |
Consumer, excluding credit card | |||
Loan balances by portfolio segment: | |||
Retained loans | 363,398 | 344,355 | 331,732 |
Held-for-sale | 398 | 466 | |
At fair value | 0 | 0 | |
Total | 363,796 | 344,821 | |
Credit card | |||
Loan balances by portfolio segment: | |||
Retained loans | 133,346 | 131,387 | |
Held-for-sale | 89 | 76 | |
At fair value | 0 | 0 | |
Total | 133,435 | 131,463 | |
Wholesale | |||
Loan balances by portfolio segment: | |||
Retained loans | 386,449 | 357,050 | $ 346,927 |
Held-for-sale | 2,463 | 1,104 | |
At fair value | 1,911 | 2,861 | |
Total | $ 390,823 | $ 361,015 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | $ 1,241 | $ 2,395 | $ 4,023 | $ 5,812 |
Sales | 3,214 | 2,986 | 8,625 | 11,454 |
Retained loans reclassified to held-for-sale | 953 | 99 | 1,652 | 1,806 |
Consumer, excluding credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 959 | 1,196 | 3,048 | 3,918 |
Sales | 577 | 1,130 | 2,242 | 4,073 |
Retained loans reclassified to held-for-sale | 176 | 0 | 259 | 1,272 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 6,700 | 14,400 | 23,800 | 39,800 |
Credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Retained loans reclassified to held-for-sale | 0 | 79 | 0 | 79 |
Wholesale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 282 | 1,199 | 975 | 1,894 |
Sales | 2,637 | 1,856 | 6,383 | 7,381 |
Retained loans reclassified to held-for-sale | $ 777 | $ 20 | $ 1,393 | $ 455 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains on sales of loans (including lower of cost or fair value adjustments) | $ 66 | $ 108 | $ 177 | $ 293 |
Consumer, excluding credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains on sales of loans (including lower of cost or fair value adjustments) | 51 | 62 | 168 | 239 |
Credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains on sales of loans (including lower of cost or fair value adjustments) | (2) | 13 | (6) | 22 |
Wholesale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total net gains on sales of loans (including lower of cost or fair value adjustments) | $ 17 | $ 33 | $ 15 | $ 32 |
Loans - Consumer, Excluding Cre
Loans - Consumer, Excluding Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 363,398 | 344,355 | $ 331,732 |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 40,740 | 45,559 | |
Consumer, excluding credit card | Home equity | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,448 | 14,989 | |
Consumer, excluding credit card | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 189,558 | 166,239 | |
Consumer, excluding credit card | Total PCI | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 37,045 | 40,998 | |
Consumer, excluding credit card | Auto | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 64,512 | 60,255 | |
Consumer, excluding credit card | Business banking | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 22,292 | 21,208 | |
Consumer, excluding credit card | Student and other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,251 | 10,096 | |
Consumer, excluding credit card | Fixed Rate Residential Mortgage | Prime mortgage | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,919 | 8,893 | |
Consumer, excluding credit card | Fixed Rate Residential Mortgage | Subprime mortgage | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,021 | 3,263 | |
Consumer, excluding credit card | Option ARMs | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 12,657 | $ 13,853 |
Loans - Consumer, Excluding C98
Loans - Consumer, Excluding Credit Card Loan Portfolio, Residential Real Estate, Excluding PCI Loans (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 363,398 | 344,355 | $ 331,732 |
Consumer, excluding credit card | Total residential real estate – excluding PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 230,298 | $ 211,798 | |
% of 30 days past due to total retained loans | 1.14% | 1.40% | |
Nonaccrual loans | $ 4,199 | $ 4,694 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 65,402 | 56,208 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 32,627 | 30,609 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16,184 | 14,944 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,797 | 11,660 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 10,491 | 9,586 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,689 | 8,157 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,446 | 5,627 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,462 | 5,298 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,263 | 3,295 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,826 | 2,899 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 66,111 | 63,515 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,552 | 10,688 | |
90 days past due | 4,796 | 6,056 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | U.S. government-guaranteed | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,600 | 10,700 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,542 | 4,714 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 117 | 223 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 82 | 109 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 972 | 1,618 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 503 | 725 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,355 | 7,696 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,949 | 2,405 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 193,665 | 171,889 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 11,561 | 11,731 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 220,891 | 200,762 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Current | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,800 | 2,600 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,347 | 4,750 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30–149 days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,900 | 3,200 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,060 | 6,286 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 150 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,900 | 4,900 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30 plus days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,800 | 8,100 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 90 or more days past due and still accruing | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 2,700 | 3,400 | |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 40,740 | $ 45,559 | |
% of 30 days past due to total retained loans | 2.69% | 2.77% | |
Nonaccrual loans | $ 1,904 | $ 2,191 | |
Consumer, excluding credit card | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,992 | 8,945 | |
Consumer, excluding credit card | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,345 | 9,147 | |
Consumer, excluding credit card | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,067 | 3,420 | |
Consumer, excluding credit card | Home equity | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,278 | 2,532 | |
Consumer, excluding credit card | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,196 | 2,409 | |
Consumer, excluding credit card | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,324 | 2,590 | |
Consumer, excluding credit card | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,287 | 1,451 | |
Consumer, excluding credit card | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,858 | 2,143 | |
Consumer, excluding credit card | Home equity | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,194 | 1,350 | |
Consumer, excluding credit card | Home equity | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,464 | 1,652 | |
Consumer, excluding credit card | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,735 | 9,920 | |
Consumer, excluding credit card | Home equity | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
90 days past due | 0 | 0 | |
Consumer, excluding credit card | Home equity | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,447 | 3,056 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 65 | 165 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 18 | 32 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 810 | 1,344 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 266 | 434 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,346 | 4,537 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,069 | 1,409 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 28,185 | 29,648 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,534 | 4,934 | |
Consumer, excluding credit card | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 39,644 | 44,299 | |
Consumer, excluding credit card | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 610 | 708 | |
Consumer, excluding credit card | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 486 | 552 | |
Consumer, excluding credit card | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 189,558 | $ 166,239 | |
% of 30 days past due to total retained loans | 0.81% | 1.03% | |
Nonaccrual loans | $ 2,295 | $ 2,503 | |
Consumer, excluding credit card | Total PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 57,410 | 47,263 | |
Consumer, excluding credit card | Total PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 24,282 | 21,462 | |
Consumer, excluding credit card | Total PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,117 | 11,524 | |
Consumer, excluding credit card | Total PCI | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 10,519 | 9,128 | |
Consumer, excluding credit card | Total PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,295 | 7,177 | |
Consumer, excluding credit card | Total PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,365 | 5,567 | |
Consumer, excluding credit card | Total PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,159 | 4,176 | |
Consumer, excluding credit card | Total PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,604 | 3,155 | |
Consumer, excluding credit card | Total PCI | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,069 | 1,945 | |
Consumer, excluding credit card | Total PCI | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,362 | 1,247 | |
Consumer, excluding credit card | Total PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 57,376 | 53,595 | |
Consumer, excluding credit card | Total PCI | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,552 | 10,688 | |
90 days past due | 4,796 | 6,056 | |
Consumer, excluding credit card | Total PCI | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,095 | 1,658 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 52 | 58 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 64 | 77 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 162 | 274 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 237 | 291 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,009 | 3,159 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 880 | 996 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 165,480 | 142,241 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,027 | 6,797 | |
Consumer, excluding credit card | Total PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 181,247 | 156,463 | |
Consumer, excluding credit card | Total PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,737 | 4,042 | |
Consumer, excluding credit card | Total PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,574 | 5,734 | |
Consumer, excluding credit card | Total PCI | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 0 | $ 0 |
Loans - Consumer, Excluding C99
Loans - Consumer, Excluding Credit Card Loan Portfolio, Delinquency Statistics Junior Lien Home Equity Loans (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 363,398 | 344,355 | $ 331,732 |
Consumer, excluding credit card | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 40,740 | $ 45,559 | |
Total 30 plus day delinquency rate | 2.69% | 2.77% | |
Consumer, excluding credit card | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 26,780 | $ 30,711 | |
Total 30 plus day delinquency rate | 2.14% | 2.25% | |
Consumer, excluding credit card | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,999 | $ 2,409 | |
Total 30 plus day delinquency rate | 2.70% | 3.03% | |
Consumer, excluding credit card | HELOCs, Within the revolving period | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Open-ended revolving period | 10 years | ||
Consumer, excluding credit card | HELOCs, Within the revolving period | HELOCs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 11,646 | $ 17,050 | |
Total 30 plus day delinquency rate | 1.18% | 1.57% | |
Consumer, excluding credit card | HELOCs, Beyond the revolving period | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Amortization period | 20 years | ||
Consumer, excluding credit card | HELOCs, Beyond the revolving period | HELOCs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 13,135 | $ 11,252 | |
Total 30 plus day delinquency rate | 2.90% | 3.10% |
Loans - Consumer, Excluding 100
Loans - Consumer, Excluding Credit Card Loan Portfolio, Impaired Loans (Details) - Consumer, excluding credit card $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)payment | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Impaired loans: | |||||
Loans modified subsequent to repurchase from Ginnie Mae | $ 3,600 | $ 3,600 | $ 3,800 | ||
TDRs less than 90 days past due | 2,300 | 2,300 | 2,500 | ||
Total residential real estate – excluding PCI | |||||
Impaired loans: | |||||
With an allowance | 6,152 | 6,152 | 6,536 | ||
Without an allowance | 2,315 | 2,315 | 2,512 | ||
Total impaired loans | 8,467 | 8,467 | 9,048 | ||
Allowance for loan losses related to impaired loans | 211 | 211 | 246 | ||
Unpaid principal balance of impaired loans | 12,310 | 12,310 | 13,042 | ||
Impaired loans on nonaccrual status | 2,887 | 2,887 | 3,177 | ||
Average impaired credit card loans | 8,581 | $ 9,331 | 8,782 | $ 10,367 | |
Interest income on impaired credit card loans | 107 | 114 | 325 | 366 | |
Interest income on impaired loans on a cash basis | 39 | 42 | $ 119 | 132 | |
Number of payments under modified terms to recognize interest on cash basis | payment | 6 | ||||
Home equity | |||||
Impaired loans: | |||||
With an allowance | 1,287 | $ 1,287 | 1,293 | ||
Without an allowance | 966 | 966 | 1,065 | ||
Total impaired loans | 2,253 | 2,253 | 2,358 | ||
Allowance for loan losses related to impaired loans | 132 | 132 | 138 | ||
Unpaid principal balance of impaired loans | 3,792 | 3,792 | 3,960 | ||
Impaired loans on nonaccrual status | 1,088 | 1,088 | 1,220 | ||
Average impaired credit card loans | 2,276 | 2,351 | 2,325 | 2,371 | |
Interest income on impaired credit card loans | 31 | 32 | 94 | 98 | |
Interest income on impaired loans on a cash basis | 20 | 20 | $ 61 | 64 | |
Home equity | Permanent Modification | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 13.00% | ||||
Total PCI | |||||
Impaired loans: | |||||
With an allowance | 4,865 | $ 4,865 | 5,243 | ||
Without an allowance | 1,349 | 1,349 | 1,447 | ||
Total impaired loans | 6,214 | 6,214 | 6,690 | ||
Allowance for loan losses related to impaired loans | 79 | 79 | 108 | ||
Unpaid principal balance of impaired loans | 8,518 | 8,518 | 9,082 | ||
Impaired loans on nonaccrual status | 1,799 | 1,799 | $ 1,957 | ||
Average impaired credit card loans | 6,305 | 6,980 | 6,457 | 7,996 | |
Interest income on impaired credit card loans | 76 | 82 | 231 | 268 | |
Interest income on impaired loans on a cash basis | $ 19 | $ 22 | $ 58 | $ 68 | |
Total PCI | Permanent Modification | |||||
Impaired loans: | |||||
Rate of default for modified loans, estimated weighted average | 17.00% |
Loans - Consumer, Excluding 101
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Total residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 134 | $ 201 | $ 452 | $ 503 |
Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 62 | 139 | 258 | 286 |
Total PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 72 | $ 62 | $ 194 | $ 217 |
Loans - Consumer, Excluding 102
Loans - Consumer, Excluding Credit Card Loan Portfolio, Loan Modifications, Nature and Extent of Modifications (Details) - Consumer, excluding credit card - loan loan in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | ||||
Percentage, sum of items by type, may exceed | 100.00% | |||
Total residential real estate – excluding PCI | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 737 | 2,499 | 3,609 | 4,724 |
Total residential real estate – excluding PCI | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 2,012 | 1,758 | 6,364 | 5,076 |
Total residential real estate – excluding PCI | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 82.00% | 72.00% | 75.00% | 73.00% |
Total residential real estate – excluding PCI | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 81.00% | 84.00% | 86.00% | 84.00% |
Total residential real estate – excluding PCI | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 18.00% | 24.00% | 18.00% | 26.00% |
Total residential real estate – excluding PCI | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 14.00% | 15.00% | 16.00% | 16.00% |
Total residential real estate – excluding PCI | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 15.00% | 6.00% | 11.00% | 5.00% |
Home equity | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 351 | 1,835 | 2,088 | 2,732 |
Home equity | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 1,163 | 953 | 3,804 | 2,679 |
Home equity | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 83.00% | 71.00% | 74.00% | 74.00% |
Home equity | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 76.00% | 88.00% | 84.00% | 86.00% |
Home equity | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 21.00% | 24.00% | 12.00% | 26.00% |
Home equity | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 6.00% | 4.00% | 9.00% | 5.00% |
Home equity | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 6.00% | 0.00% | 1.00% | 0.00% |
Total PCI | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 386 | 664 | 1,521 | 1,992 |
Total PCI | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 849 | 805 | 2,560 | 2,397 |
Total PCI | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 81.00% | 73.00% | 75.00% | 71.00% |
Total PCI | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 86.00% | 80.00% | 89.00% | 81.00% |
Total PCI | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 15.00% | 22.00% | 18.00% | 26.00% |
Total PCI | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 25.00% | 29.00% | 27.00% | 29.00% |
Total PCI | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted - Interest rate reduction | 27.00% | 13.00% | 14.00% | 11.00% |
Loans - Consumer, Excluding 103
Loans - Consumer, Excluding Credit Card Loan Portfolio, Financial Effects of Modifications and Redefaults (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)loan_payment | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Carrying value | $ 883,193 | $ 804,293 | $ 883,193 | $ 804,293 | $ 832,792 |
Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 363,398 | $ 331,732 | 363,398 | $ 331,732 | 344,355 |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 1,000 | $ 1,000 | 1,200 | ||
Consumer, excluding credit card | Total residential real estate – excluding PCI | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of payments past due for deemed payment | loan_payment | 2 | ||||
Carrying value | $ 230,298 | $ 230,298 | 211,798 | ||
Consumer, excluding credit card | Total residential real estate – excluding PCI | Maximum | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of months before a payment redefault under modified loans | 12 months | ||||
Consumer, excluding credit card | Total residential real estate – excluding PCI | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.47% | 5.57% | 5.43% | 5.57% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.73% | 2.65% | 2.73% | 2.65% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 22 years | 22 years | 22 years | 22 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 38 years | 36 years | 38 years | 36 years | |
Charge-offs recognized upon permanent modification | $ 1 | $ 5 | $ 4 | $ 12 | |
Principal deferred | 13 | 20 | 44 | 65 | |
Principal forgiven | 13 | 19 | 42 | 54 | |
Balance of loans that redefaulted within one year of permanent modification | 42 | $ 43 | 103 | $ 116 | |
Consumer, excluding credit card | Home equity | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 40,740 | $ 40,740 | 45,559 | ||
Consumer, excluding credit card | Home equity | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 4.99% | 5.20% | 5.08% | 5.24% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.28% | 2.33% | 2.40% | 2.41% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 19 years | 17 years | 18 years | 18 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 38 years | 33 years | 38 years | 33 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 1 | $ 1 | $ 3 | |
Principal deferred | 6 | 7 | 18 | 20 | |
Principal forgiven | 1 | 0 | 5 | 2 | |
Balance of loans that redefaulted within one year of permanent modification | 13 | $ 5 | $ 31 | $ 14 | |
Modifications, weighted-average remaining life | 9 years | ||||
Consumer, excluding credit card | Total PCI | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 189,558 | $ 189,558 | 166,239 | ||
Consumer, excluding credit card | Total PCI | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.76% | 5.76% | 5.66% | 5.74% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 2.99% | 2.81% | 2.94% | 2.76% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 24 years | 25 years | 25 years | 25 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 38 years | 37 years | 38 years | 37 years | |
Charge-offs recognized upon permanent modification | $ 1 | $ 4 | $ 3 | $ 9 | |
Principal deferred | 7 | 13 | 26 | 45 | |
Principal forgiven | 12 | 19 | 37 | 52 | |
Balance of loans that redefaulted within one year of permanent modification | 29 | $ 38 | $ 72 | $ 102 | |
Modifications, weighted-average remaining life | 11 years | ||||
Consumer, excluding credit card | Business banking | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 22,292 | $ 22,292 | $ 21,208 | ||
Consumer, excluding credit card | Business banking | Maximum | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year |
Loans - Consumer, Excluding 104
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Loans (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 363,398 | 344,355 | $ 331,732 |
Total other consumer | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 96,055 | $ 91,559 | |
% of 30 days past due to total retained loans | 1.23% | 1.42% | |
90 or more days past due and still accruing | $ 259 | $ 290 | |
Nonaccrual loans | 709 | 621 | |
Total other consumer | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 28,839 | 26,782 | |
Total other consumer | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 949 | 891 | |
Total other consumer | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 334 | 210 | |
Total other consumer | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,819 | 11,767 | |
Total other consumer | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,564 | 8,457 | |
Total other consumer | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,111 | 5,816 | |
Total other consumer | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 10,342 | 9,918 | |
Total other consumer | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,873 | 4,300 | |
Total other consumer | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,892 | 2,864 | |
Total other consumer | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,684 | 1,611 | |
Total other consumer | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,678 | 3,474 | |
Total other consumer | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,192 | 3,326 | |
Total other consumer | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,137 | 4,262 | |
Total other consumer | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 37,763 | 35,764 | |
Total other consumer | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 94,413 | 89,734 | |
Total other consumer | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,280 | 1,464 | |
Total other consumer | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 362 | 361 | |
Auto | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 64,512 | $ 60,255 | |
% of 30 days past due to total retained loans | 1.08% | 1.35% | |
90 or more days past due and still accruing | $ 0 | $ 0 | |
Nonaccrual loans | 212 | 116 | |
Auto | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,276 | 11,277 | |
Auto | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 188 | 76 | |
Auto | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 98 | 0 | |
Auto | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,837 | 7,186 | |
Auto | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,970 | 3,874 | |
Auto | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,921 | 3,678 | |
Auto | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,866 | 6,457 | |
Auto | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,343 | 2,843 | |
Auto | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,026 | 1,998 | |
Auto | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,207 | 1,135 | |
Auto | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,215 | 2,033 | |
Auto | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,514 | 1,550 | |
Auto | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,269 | 2,340 | |
Auto | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 29,344 | 27,161 | |
Auto | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 63,815 | 59,442 | |
Auto | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 688 | 804 | |
Auto | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9 | 9 | |
Business banking | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 22,292 | $ 21,208 | |
% of 30 days past due to total retained loans | 1.52% | 1.51% | |
90 or more days past due and still accruing | $ 0 | $ 0 | |
Nonaccrual loans | 286 | 263 | |
Business banking | Consumer, excluding credit card | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16,563 | 15,505 | |
Business banking | Consumer, excluding credit card | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 761 | 815 | |
Business banking | Consumer, excluding credit card | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 236 | 210 | |
Business banking | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,031 | 3,530 | |
Business banking | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,392 | 3,359 | |
Business banking | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,582 | 1,459 | |
Business banking | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,715 | 2,622 | |
Business banking | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,046 | 941 | |
Business banking | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 540 | 500 | |
Business banking | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 279 | 264 | |
Business banking | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,251 | 1,205 | |
Business banking | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,309 | 1,361 | |
Business banking | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,359 | 1,363 | |
Business banking | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,788 | 4,604 | |
Business banking | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 21,954 | 20,887 | |
Business banking | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 212 | 215 | |
Business banking | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 126 | 106 | |
Student and other | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 9,251 | $ 10,096 | |
% of 30 days past due to total retained loans | 1.58% | 1.63% | |
90 or more days past due and still accruing | $ 259 | $ 290 | |
Nonaccrual loans | 211 | 242 | |
Student and other | Consumer, excluding credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 951 | 1,051 | |
Student and other | Consumer, excluding credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,202 | 1,224 | |
Student and other | Consumer, excluding credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 608 | 679 | |
Student and other | Consumer, excluding credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 761 | 839 | |
Student and other | Consumer, excluding credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 484 | 516 | |
Student and other | Consumer, excluding credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 326 | 366 | |
Student and other | Consumer, excluding credit card | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 198 | 212 | |
Student and other | Consumer, excluding credit card | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 212 | 236 | |
Student and other | Consumer, excluding credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 369 | 415 | |
Student and other | Consumer, excluding credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 509 | 559 | |
Student and other | Consumer, excluding credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,631 | 3,999 | |
Student and other | Current | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,644 | 9,405 | |
Student and other | 30–119 days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 380 | 445 | |
Student and other | 120 or more days past due | Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 227 | 246 | |
Student and other | 30 days or more past due and still accruing | Consumer, excluding credit card | Student loans insured by U.S. government agencies under the FFELP | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 461 | 526 | |
Student loan | Consumer, excluding credit card | Student loans insured by U.S. government agencies under the FFELP | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,500 | 3,800 | |
Student loan | 30–119 days past due | Consumer, excluding credit card | Student loans insured by U.S. government agencies under the FFELP | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 250 | 299 | |
Student loan | 120 or more days past due | Consumer, excluding credit card | Student loans insured by U.S. government agencies under the FFELP | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 211 | $ 227 |
Loans - Consumer, Excluding 105
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Impaired Loans and Loan Modifications (Details) - Consumer, excluding credit card - Other consumer - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
With an allowance | $ 648 | $ 648 | $ 527 | ||
Without an allowance | 30 | 30 | 31 | ||
Total impaired loans | 678 | 678 | 558 | ||
Allowance for loan losses related to impaired loans | 141 | 141 | 118 | ||
Unpaid principal balance of impaired loans | 790 | 790 | 668 | ||
Impaired loans on nonaccrual status | 551 | 551 | 449 | ||
Average impaired credit card loans | 683 | $ 543 | 626 | $ 565 | |
Loans modified in TDRs | 386 | 386 | 384 | ||
TDRs on nonaccrual status | $ 259 | $ 259 | $ 275 |
Loans - Consumer, Excluding 106
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Loans (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 363,398 | 344,355 | $ 331,732 |
Consumer, excluding credit card | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 189,558 | 166,239 | |
Unpaid principal balance of impaired loans | 8,518 | 9,082 | |
Consumer, excluding credit card | Total PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 57,410 | 47,263 | |
Consumer, excluding credit card | Total PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 24,282 | 21,462 | |
Consumer, excluding credit card | Total PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 13,117 | 11,524 | |
Consumer, excluding credit card | Total PCI | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 10,519 | 9,128 | |
Consumer, excluding credit card | Total PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,295 | 7,177 | |
Consumer, excluding credit card | Total PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,365 | 5,567 | |
Consumer, excluding credit card | Total PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 5,159 | 4,176 | |
Consumer, excluding credit card | Total PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,604 | 3,155 | |
Consumer, excluding credit card | Total PCI | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,069 | 1,945 | |
Consumer, excluding credit card | Total PCI | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,362 | 1,247 | |
Consumer, excluding credit card | Total PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 57,376 | 53,595 | |
Consumer, excluding credit card | Total PCI | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,095 | 1,658 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 52 | 58 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 64 | 77 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 162 | 274 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 237 | 291 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,009 | 3,159 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 880 | 996 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 165,480 | 142,241 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,027 | 6,797 | |
Consumer, excluding credit card | Total PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 181,247 | 156,463 | |
Consumer, excluding credit card | Total PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,737 | 4,042 | |
Consumer, excluding credit card | Total PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,574 | 5,734 | |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 40,740 | 45,559 | |
Unpaid principal balance of impaired loans | 3,792 | 3,960 | |
Consumer, excluding credit card | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,992 | 8,945 | |
Consumer, excluding credit card | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,345 | 9,147 | |
Consumer, excluding credit card | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,067 | 3,420 | |
Consumer, excluding credit card | Home equity | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,278 | 2,532 | |
Consumer, excluding credit card | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,196 | 2,409 | |
Consumer, excluding credit card | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,324 | 2,590 | |
Consumer, excluding credit card | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,287 | 1,451 | |
Consumer, excluding credit card | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,858 | 2,143 | |
Consumer, excluding credit card | Home equity | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,194 | 1,350 | |
Consumer, excluding credit card | Home equity | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,464 | 1,652 | |
Consumer, excluding credit card | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,735 | 9,920 | |
Consumer, excluding credit card | Home equity | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,447 | 3,056 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 65 | 165 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 18 | 32 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 810 | 1,344 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 266 | 434 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,346 | 4,537 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,069 | 1,409 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 28,185 | 29,648 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,534 | 4,934 | |
Consumer, excluding credit card | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 39,644 | 44,299 | |
Consumer, excluding credit card | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 610 | 708 | |
Consumer, excluding credit card | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 486 | 552 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 37,045 | 40,998 | |
Related allowance for loan losses | 2,618 | 2,742 | |
Unpaid principal balance of impaired loans | $ 38,426 | $ 42,665 | |
% of 30 days past due to total loans | 10.01% | 11.21% | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 21,140 | $ 23,490 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,365 | 2,581 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,032 | 1,150 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 561 | 636 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3,271 | 3,621 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,052 | 1,157 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,255 | 1,433 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 642 | 703 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 401 | 448 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 167 | 185 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 6,540 | 7,261 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,962 | 2,325 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 112 | 192 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 125 | 199 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 857 | 1,305 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 715 | 1,055 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3,540 | 4,833 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,590 | 3,443 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 18,522 | 18,903 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 10,003 | 10,410 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 34,580 | 37,883 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,589 | 1,896 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,257 | 2,886 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 13,448 | 14,989 | |
Related allowance for loan losses | 1,708 | 1,708 | |
Unpaid principal balance of impaired loans | $ 13,759 | $ 15,342 | |
% of 30 days past due to total loans | 5.73% | 6.22% | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 8,246 | $ 9,205 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 724 | 788 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 327 | 358 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 193 | 224 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,348 | 1,479 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 289 | 310 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 708 | 819 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 253 | 281 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 39 | 44 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 15 | 17 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,617 | 1,817 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 757 | 889 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 89 | 153 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 50 | 80 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 649 | 942 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 305 | 444 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,119 | 2,709 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 914 | 1,136 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 6,678 | 6,724 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,198 | 2,265 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 12,970 | 14,387 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 279 | 322 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 510 | 633 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,919 | 8,893 | |
Related allowance for loan losses | 861 | 985 | |
Unpaid principal balance of impaired loans | $ 7,944 | $ 8,919 | |
% of 30 days past due to total loans | 10.62% | 11.49% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 4,589 | $ 5,172 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 528 | 580 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 235 | 263 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 83 | 94 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 519 | 586 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 217 | 238 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 173 | 194 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 131 | 143 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 126 | 141 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 41 | 45 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,302 | 1,463 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 411 | 498 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 6 | 10 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 19 | 28 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 64 | 120 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 94 | 152 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 520 | 816 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 436 | 614 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 4,082 | 4,243 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,312 | 2,438 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 7,100 | 7,894 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 350 | 424 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 494 | 601 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,021 | 3,263 | |
Related allowance for loan losses | 0 | 0 | |
Unpaid principal balance of impaired loans | $ 3,714 | $ 4,051 | |
% of 30 days past due to total loans | 17.47% | 20.22% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 927 | $ 1,005 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 373 | 400 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 181 | 196 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 219 | 243 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 341 | 373 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 127 | 139 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 71 | 81 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 70 | 76 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 103 | 113 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 58 | 62 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,244 | 1,363 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 183 | 210 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 6 | 10 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 33 | 55 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 46 | 77 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 152 | 220 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 248 | 331 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 496 | 643 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 915 | 863 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,635 | 1,642 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3,065 | 3,232 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 389 | 439 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 260 | 380 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 12,657 | 13,853 | |
Related allowance for loan losses | 49 | 49 | |
Unpaid principal balance of impaired loans | $ 13,009 | $ 14,353 | |
% of 30 days past due to total loans | 12.02% | 13.82% | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 7,378 | $ 8,108 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 740 | 813 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 289 | 333 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 66 | 75 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,063 | 1,183 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 419 | 470 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 303 | 339 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 188 | 203 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 133 | 150 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 53 | 61 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,377 | 2,618 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | No FICO or LTV Score Available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 611 | 728 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 11 | 19 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 23 | 36 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 98 | 166 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 164 | 239 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 653 | 977 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 744 | 1,050 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 6,847 | 7,073 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3,858 | 4,065 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 11,445 | 12,370 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 571 | 711 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 993 | $ 1,272 |
Loans - Consumer, Excluding 107
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Delinquency Statistics (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 883,193 | $ 832,792 | $ 804,293 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 363,398 | 344,355 | $ 331,732 |
Consumer, excluding credit card | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 40,740 | $ 45,559 | |
Total 30 day delinquency rate | 2.69% | 2.77% | |
Consumer, excluding credit card | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 26,780 | $ 30,711 | |
Total 30 day delinquency rate | 2.14% | 2.25% | |
Consumer, excluding credit card | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,999 | $ 2,409 | |
Total 30 day delinquency rate | 2.70% | 3.03% | |
Consumer, excluding credit card | Residential real estate – PCI | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 13,448 | $ 14,989 | |
Consumer, excluding credit card | Residential real estate – PCI | Total | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of senior liens to total financing receivables | 24.00% | ||
Consumer, excluding credit card | Residential real estate – PCI | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 10,513 | $ 11,834 | |
Total 30 day delinquency rate | 3.98% | 4.35% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOCs | Junior lien | Within the revolving period | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 2,754 | $ 5,000 | |
Total 30 day delinquency rate | 3.81% | 4.10% | |
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] | |||
Loans | $ 7,265 | $ 6,252 | |
Total 30 day delinquency rate | 3.98% | 4.46% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 494 | $ 582 | |
Total 30 day delinquency rate | 4.86% | 5.33% |
Loans - Consumer, Excluding 108
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Accretable Yield Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | $ 883,193 | $ 804,293 | $ 883,193 | $ 804,293 | $ 832,792 |
Consumer, excluding credit card | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | 363,398 | 331,732 | 363,398 | 331,732 | 344,355 |
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] | |||||
Loans | 1,000 | 1,000 | 1,200 | ||
Consumer, excluding credit card | Total PCI | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | 189,558 | 189,558 | 166,239 | ||
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Beginning balance | 12,301 | 13,741 | 13,491 | 14,592 | |
Accretion into interest income | (382) | (424) | (1,184) | (1,290) | |
Changes in interest rates on variable-rate loans | 42 | 3 | 143 | 21 | |
Other changes in expected cash flows | 291 | 511 | (198) | 508 | |
Reclassification from nonaccretable difference | 0 | 90 | 0 | 90 | |
Ending balance | $ 12,252 | $ 13,921 | $ 12,252 | $ 13,921 | |
Accretable yield percentage | 4.33% | 4.22% | 4.35% | 4.18% | |
Loans | $ 37,045 | $ 37,045 | 40,998 | ||
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | In Process of Active or Suspended Foreclosure | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | $ 1,900 | $ 1,900 | $ 2,300 |
Loans - Credit Card Loan Portfo
Loans - Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 133,346 | $ 131,387 | |
% of 30 days past due to total retained loans | 1.53% | 1.43% | |
% of 90 days past due to total retained loans | 0.75% | 0.72% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Equal to or greater than 660 | 84.50% | 84.40% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Less than 660 | 14.10% | 13.10% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, No FICO available | 1.40% | 2.50% | |
Credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 19,218 | $ 18,802 | |
Credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,376 | 11,847 | |
Credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 11,606 | 11,360 | |
Credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,005 | 7,806 | |
Credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,752 | 7,655 | |
Credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,934 | 5,879 | |
Credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,627 | 4,700 | |
Credit card | Pennsylvania | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,496 | 4,533 | |
Credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,548 | 3,562 | |
Credit card | Colorado | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,521 | 3,399 | |
Credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 52,263 | 51,844 | |
Credit card | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 131,311 | 129,502 | |
Credit card | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,041 | 941 | |
Credit card | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 994 | $ 944 |
Loans - Credit Card Portfolio -
Loans - Credit Card Portfolio - Impaired Loans (Details) - Credit card - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | $ 1,264 | $ 1,264 | $ 1,465 | ||
Allowance for loan losses related to impaired credit card loans | 363 | 363 | 460 | ||
Average impaired credit card loans | 1,283 | $ 1,620 | 1,349 | $ 1,775 | |
Interest income on impaired credit card loans | 15 | $ 20 | 48 | $ 64 | |
Credit card loans with modified payment terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 1,117 | 1,117 | 1,286 | ||
Modified credit card loans that have reverted to pre-modification payment terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 147 | 147 | 179 | ||
Noncompliance with Modified Terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 95 | 95 | 113 | ||
Completion of Short Term Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | $ 52 | $ 52 | $ 66 |
Loans - Credit Card Portfoli111
Loans - Credit Card Portfolio - Loan Modifications (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)payment | Sep. 30, 2015USD ($) | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Fixed payment plan period | 60 months | ||||
New TDRs | $ 162 | $ 154 | $ 462 | $ 483 | |
Weighted-average interest rate of loans – before TDR | 15.60% | 15.09% | 15.56% | 15.13% | |
Weighted-average interest rate of loans – after TDR | 4.66% | 4.35% | 4.76% | 4.30% | |
Loans that redefaulted within one year of modification | $ 20 | $ 23 | $ 57 | $ 65 | |
Number of payments past due for deemed payment | payment | 2 | ||||
Rate of default for modified loans, estimated weighted average | 28.73% | 25.61% |
Loans - Wholesale Loan Portfoli
Loans - Wholesale Loan Portfolio - By Class of Receivable (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 386,449 | $ 357,050 | $ 346,927 |
% of total criticized exposure to total retained loans | 2.55% | 2.06% | |
% of criticized nonaccrual to total retained loans | 0.56% | 0.28% | |
Wholesale | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 382,887 | $ 354,451 | |
Wholesale | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,212 | 1,544 | |
Wholesale | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 199 | 67 | |
Wholesale | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 101,258 | 94,051 | |
Wholesale | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 285,191 | 262,999 | |
Wholesale | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 290,785 | 267,736 | |
Wholesale | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 95,664 | 89,314 | |
Wholesale | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 85,817 | 81,953 | |
Wholesale | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,696 | 6,373 | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,151 | 988 | |
Wholesale | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 123,608 | $ 112,932 | |
% of total criticized exposure to total retained loans | 6.57% | 4.56% | |
% of criticized nonaccrual to total retained loans | 1.32% | 0.54% | |
Wholesale | Commercial and industrial | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 121,674 | $ 112,058 | |
Wholesale | Commercial and industrial | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 178 | 259 | |
Wholesale | Commercial and industrial | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 119 | 7 | |
Wholesale | Commercial and industrial | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 33,799 | 30,063 | |
Wholesale | Commercial and industrial | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 89,809 | 82,869 | |
Wholesale | Commercial and industrial | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 67,142 | 62,150 | |
Wholesale | Commercial and industrial | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 56,466 | 50,782 | |
Wholesale | Commercial and industrial | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 48,343 | 45,632 | |
Wholesale | Commercial and industrial | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,486 | 4,542 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,637 | 608 | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 104,239 | $ 92,820 | |
% of total criticized exposure to total retained loans | 1.03% | 1.60% | |
% of criticized nonaccrual to total retained loans | 0.20% | 0.25% | |
Wholesale | Real estate | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 104,009 | $ 92,381 | |
Wholesale | Real estate | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 24 | 193 | |
Wholesale | Real estate | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 15 | |
Wholesale | Real estate | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,970 | 3,003 | |
Wholesale | Real estate | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 100,269 | 89,817 | |
Wholesale | Real estate | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 86,511 | 74,330 | |
Wholesale | Real estate | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 17,728 | 18,490 | |
Wholesale | Real estate | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16,655 | 17,008 | |
Wholesale | Real estate | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 867 | 1,251 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 206 | 231 | |
Wholesale | Financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 33,134 | $ 29,783 | |
% of total criticized exposure to total retained loans | 0.58% | 1.11% | |
% of criticized nonaccrual to total retained loans | 0.05% | 0.03% | |
Wholesale | Financial institutions | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 33,039 | $ 29,713 | |
Wholesale | Financial institutions | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 59 | 49 | |
Wholesale | Financial institutions | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 18 | 11 | |
Wholesale | Financial institutions | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16,937 | 17,166 | |
Wholesale | Financial institutions | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16,197 | 12,617 | |
Wholesale | Financial institutions | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 24,954 | 21,786 | |
Wholesale | Financial institutions | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,180 | 7,997 | |
Wholesale | Financial institutions | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,987 | 7,667 | |
Wholesale | Financial institutions | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 175 | 320 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 18 | 10 | |
Wholesale | Government agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 15,413 | $ 11,626 | |
% of total criticized exposure to total retained loans | 0.04% | 0.06% | |
% of criticized nonaccrual 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] | |||
Retained loans | $ 15,410 | $ 11,565 | |
Wholesale | Government agencies | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 55 | |
Wholesale | Government agencies | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3 | 6 | |
Wholesale | Government agencies | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,948 | 1,788 | |
Wholesale | Government agencies | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 11,465 | 9,838 | |
Wholesale | Government agencies | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,960 | 11,363 | |
Wholesale | Government agencies | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 453 | 263 | |
Wholesale | Government agencies | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 447 | 256 | |
Wholesale | Government agencies | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6 | 7 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
Wholesale | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 110,055 | $ 109,889 | |
% of total criticized exposure to total retained loans | 0.41% | 0.36% | |
% of criticized nonaccrual to total retained loans | 0.26% | 0.13% | |
Wholesale | Other | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 108,755 | $ 108,734 | |
Wholesale | Other | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 951 | 988 | |
Wholesale | Other | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 59 | 28 | |
Wholesale | Other | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 42,604 | 42,031 | |
Wholesale | Other | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 67,451 | 67,858 | |
Wholesale | Other | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 97,218 | 98,107 | |
Wholesale | Other | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,837 | 11,782 | |
Wholesale | Other | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,385 | 11,390 | |
Wholesale | Other | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 162 | 253 | |
Wholesale | Other | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 290 | $ 139 |
Loans - Wholesale Loan Portf113
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 883,193 | $ 832,792 | $ 804,293 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 386,449 | $ 357,050 | $ 346,927 |
% of total criticized exposure to total retained loans | 2.55% | 2.06% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.56% | 0.28% | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 2,151 | $ 988 | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 104,239 | $ 92,820 | |
% of total criticized exposure to total retained loans | 1.03% | 1.60% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.20% | 0.25% | |
Wholesale | Real estate | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 65,006 | $ 60,290 | |
% of total criticized exposure to total retained loans | 0.80% | 0.86% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.16% | 0.14% | |
Wholesale | Real estate | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 24,415 | $ 20,062 | |
% of total criticized exposure to total retained loans | 1.81% | 4.21% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.41% | 0.50% | |
Wholesale | Real estate | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 5,871 | $ 4,920 | |
% of total criticized exposure to total retained loans | 1.58% | 0.87% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.02% | 0.02% | |
Wholesale | Real estate | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 8,947 | $ 7,548 | |
% of total criticized exposure to total retained loans | 0.21% | 0.99% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.02% | 0.60% | |
Wholesale | Real estate | Criticized exposure | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 1,073 | $ 1,482 | |
Wholesale | Real estate | Criticized exposure | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 519 | 520 | |
Wholesale | Real estate | Criticized exposure | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 442 | 844 | |
Wholesale | Real estate | Criticized exposure | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 93 | 43 | |
Wholesale | Real estate | Criticized exposure | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 19 | 75 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 206 | 231 | |
Wholesale | Real estate | Criticized nonaccrual | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 104 | 85 | |
Wholesale | Real estate | Criticized nonaccrual | Commercial lessors | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 99 | 100 | |
Wholesale | Real estate | Criticized nonaccrual | Commercial construction and development | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1 | 1 | |
Wholesale | Real estate | Criticized nonaccrual | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 2 | $ 45 |
Loans - Wholesale Loan Portf114
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) - Wholesale - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Impaired loans: | |||||
With an allowance | $ 1,577 | $ 1,577 | $ 726 | ||
Without an allowance | 656 | 656 | 298 | ||
Total impaired loans | 2,233 | 2,233 | 1,024 | ||
Allowance for loan losses related to impaired loans | 490 | 490 | 274 | ||
Unpaid principal balance of impaired loans | 2,607 | 2,607 | 1,209 | ||
Average impaired credit card loans | 1,928 | $ 954 | 1,874 | $ 774 | |
Troubled debt restructuring | 600 | 600 | 208 | ||
Commercial and industrial | |||||
Impaired loans: | |||||
With an allowance | 1,249 | 1,249 | 522 | ||
Without an allowance | 459 | 459 | 98 | ||
Total impaired loans | 1,708 | 1,708 | 620 | ||
Allowance for loan losses related to impaired loans | 400 | 400 | 220 | ||
Unpaid principal balance of impaired loans | 1,965 | 1,965 | 669 | ||
Average impaired credit card loans | 1,489 | 559 | 1,437 | 388 | |
Real estate | |||||
Impaired loans: | |||||
With an allowance | 135 | 135 | 148 | ||
Without an allowance | 82 | 82 | 106 | ||
Total impaired loans | 217 | 217 | 254 | ||
Allowance for loan losses related to impaired loans | 17 | 17 | 27 | ||
Unpaid principal balance of impaired loans | 314 | 314 | 363 | ||
Average impaired credit card loans | 210 | 261 | 227 | 257 | |
Financial institutions | |||||
Impaired loans: | |||||
With an allowance | 17 | 17 | 10 | ||
Without an allowance | 0 | 0 | 0 | ||
Total impaired loans | 17 | 17 | 10 | ||
Allowance for loan losses related to impaired loans | 3 | 3 | 3 | ||
Unpaid principal balance of impaired loans | 19 | 19 | 13 | ||
Average impaired credit card loans | 16 | 12 | 13 | 14 | |
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 credit card loans | 0 | 0 | 0 | 1 | |
Other | |||||
Impaired loans: | |||||
With an allowance | 176 | 176 | 46 | ||
Without an allowance | 115 | 115 | 94 | ||
Total impaired loans | 291 | 291 | 140 | ||
Allowance for loan losses related to impaired loans | 70 | 70 | 24 | ||
Unpaid principal balance of impaired loans | 309 | 309 | $ 164 | ||
Average impaired credit card loans | $ 213 | $ 122 | $ 197 | $ 114 |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | $ 124 | $ 162 | |||||
Provision for credit losses/lending-related commitments | $ 1,271 | $ 682 | 4,497 | 2,576 | |||
Loans by impairment methodology | |||||||
Asset-specific | $ 12,642 | $ 12,501 | |||||
Formula-based | 833,503 | 749,552 | |||||
PCI | 37,048 | 42,240 | |||||
Total retained loans | 883,193 | $ 832,792 | 804,293 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 503 | 176 | |||||
Formula-based | 978,108 | 940,610 | |||||
Total lending-related commitments | 978,611 | 940,395 | 940,786 | ||||
Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs/(recoveries) | 70 | 86 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,717 | 2,978 | |||||
Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 13,555 | 14,185 | |||||
Gross charge-offs/Write-offs of PCI loans | 4,165 | 3,941 | |||||
Gross recoveries | (753) | (919) | |||||
Net charge-offs/(recoveries) | 3,412 | 3,022 | |||||
Provision for credit losses/lending-related commitments | 4,184 | 2,463 | |||||
Other | 1 | 2 | |||||
Ending balance | 14,204 | 13,466 | 14,204 | 13,466 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 1,205 | 1,125 | |||||
Formula-based | 10,381 | 9,553 | |||||
PCI | 2,618 | 2,788 | |||||
Total allowance for loan losses | 14,204 | 13,466 | 13,555 | 14,185 | 14,204 | 13,555 | 13,466 |
Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 786 | 622 | |||||
Provision for credit losses/lending-related commitments | 313 | 113 | |||||
Ending balance | 1,100 | 735 | 1,100 | 735 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 162 | 69 | |||||
Allowance for lending-related commitments by impairment methodology, formula-based | 938 | 666 | |||||
Total allowance for loan losses | 1,100 | 735 | 786 | 622 | 1,100 | 786 | 735 |
Consumer, excluding credit card | |||||||
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 124 | 162 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 9,145 | 9,817 | |||||
Formula-based | 317,208 | 279,679 | |||||
PCI | 37,045 | 42,236 | |||||
Total retained loans | 363,398 | 344,355 | 331,732 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 59,990 | 60,005 | |||||
Total lending-related commitments | 59,990 | 60,005 | |||||
Consumer, excluding credit card | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs/(recoveries) | 63 | 84 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,371 | 2,653 | |||||
Consumer, excluding credit card | Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 5,806 | 7,050 | |||||
Gross charge-offs/Write-offs of PCI loans | 1,071 | 1,269 | |||||
Gross recoveries | (448) | (577) | |||||
Net charge-offs/(recoveries) | 623 | 692 | |||||
Provision for credit losses/lending-related commitments | 578 | (346) | |||||
Other | 0 | (1) | |||||
Ending balance | 5,637 | 5,849 | 5,637 | 5,849 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 352 | 359 | |||||
Formula-based | 2,667 | 2,702 | |||||
PCI | 2,618 | 2,788 | |||||
Total allowance for loan losses | 5,637 | 5,849 | 5,806 | 7,050 | 5,637 | 5,806 | 5,849 |
Consumer, excluding credit card | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 14 | 13 | |||||
Provision for credit losses/lending-related commitments | 0 | 1 | |||||
Other | 0 | ||||||
Ending balance | 14 | 14 | 14 | 14 | |||
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 | 14 | |||||
Total allowance for loan losses | 14 | 14 | 14 | 13 | 14 | 14 | 14 |
Credit card | |||||||
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 1,264 | 1,563 | |||||
Formula-based | 132,082 | 124,071 | |||||
PCI | 0 | 0 | |||||
Total retained loans | 133,346 | 125,634 | |||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 549,634 | 526,433 | |||||
Total lending-related commitments | 549,634 | 526,433 | |||||
Credit card | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
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 losses | |||||||
Beginning balance | 3,434 | 3,439 | |||||
Gross charge-offs/Write-offs of PCI loans | 2,803 | 2,626 | |||||
Gross recoveries | (275) | (278) | |||||
Net charge-offs/(recoveries) | 2,528 | 2,348 | |||||
Provision for credit losses/lending-related commitments | 2,978 | 2,348 | |||||
Other | 0 | (5) | |||||
Ending balance | 3,884 | 3,434 | 3,884 | 3,434 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 363 | 485 | |||||
Formula-based | 3,521 | 2,949 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses | 3,884 | 3,434 | 3,434 | 3,439 | 3,884 | 3,434 | 3,434 |
Credit card | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 0 | 0 | |||||
Provision for credit losses/lending-related commitments | 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 losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 2,233 | 1,121 | |||||
Formula-based | 384,213 | 345,802 | |||||
PCI | 3 | 4 | |||||
Total retained loans | 386,449 | 357,050 | 346,927 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 503 | 176 | |||||
Formula-based | 368,484 | 354,172 | |||||
Total lending-related commitments | 368,987 | 354,348 | |||||
Wholesale | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs/(recoveries) | 7 | 2 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 346 | 325 | |||||
Wholesale | Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 4,315 | 3,696 | |||||
Gross charge-offs/Write-offs of PCI loans | 291 | 46 | |||||
Gross recoveries | (30) | (64) | |||||
Net charge-offs/(recoveries) | 261 | (18) | |||||
Provision for credit losses/lending-related commitments | 628 | 461 | |||||
Other | 1 | 8 | |||||
Ending balance | 4,683 | 4,183 | 4,683 | 4,183 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Asset-specific | 490 | 281 | |||||
Formula-based | 4,193 | 3,902 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses | 4,683 | 4,183 | 4,315 | 3,696 | 4,683 | 4,315 | 4,183 |
Wholesale | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 772 | 609 | |||||
Provision for credit losses/lending-related commitments | 313 | 112 | |||||
Ending balance | 1,086 | 721 | 1,086 | 721 | |||
Allowance For Lending Related Commitments, by Impairment Methodology [Abstract] | |||||||
Allowance for lending-related commitments by impairment methodology, asset-specific | 162 | 69 | |||||
Allowance for lending-related commitments by impairment methodology, formula-based | 924 | 652 | |||||
Total allowance for loan losses | $ 1,086 | $ 721 | $ 772 | $ 609 | $ 1,086 | $ 772 | $ 721 |
Variable Interest Entities - Fi
Variable Interest Entities - Firm Sponsored VIEs (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | $ 209,814 | $ 233,550 |
Retained securitization interests, risk-rated 'A' or better, at fair value | 65.00% | 76.00% |
Corporate & Investment Bank | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Senior securities purchased in connection with CIB's secondary market-making activities | $ 34 | $ 163 |
Subordinated securities purchased in connection with CIB's secondary market-making activities | 48 | 73 |
Residential mortgage | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 80,226 | 85,687 |
Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 22,300 | 24,389 |
Residential mortgage | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 1,600 | 1,900 |
Residential mortgage | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 68 | 93 |
Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 107,288 | 123,474 |
Commercial and other | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 2,300 | 3,700 |
Commercial and other | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 253 | 198 |
VIEs consolidated by the Firm | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 4,861 | 1,571 |
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 | 4,749 | 1,400 |
VIEs consolidated by the Firm | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 5 | 64 |
VIEs consolidated by the Firm | Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 107 | 107 |
Not Primary Beneficiary | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 153,838 | 169,576 |
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 4,283 | 6,020 |
Not Primary Beneficiary | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 894 | 950 |
Not Primary Beneficiary | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 3,389 | 5,070 |
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 | 59,790 | 66,708 |
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 1,648 | 2,013 |
Not Primary Beneficiary | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 20,594 | 22,549 |
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 78 | 109 |
Not Primary Beneficiary | Residential mortgage | Trading assets | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 204 | 394 |
Not Primary Beneficiary | Residential mortgage | Trading assets | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 78 | 109 |
Not Primary Beneficiary | Residential mortgage | AFS securities | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 1,444 | 1,619 |
Not Primary Beneficiary | Residential mortgage | AFS securities | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase 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 | 73,454 | 80,319 |
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 2,557 | 3,898 |
Not Primary Beneficiary | Commercial and other | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | 612 | 447 |
Not Primary Beneficiary | Commercial and other | AFS securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
JPMorgan Chase interest in securitized assets in nonconsolidated VIEs | $ 1,945 | $ 3,451 |
Variable Interest Entities - Re
Variable Interest Entities - Resecuritizations, Multi-seller conduits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||||
Variable Interest Entity [Line Items] | ||||||||
Securities transferred to agency resecuritization VIEs | $ 1,200 | $ 6,600 | $ 7,600 | $ 16,800 | ||||
Securities transferred to private-label re-securitization VIEs | 503 | 50 | 647 | 777 | ||||
Total assets (including notional amount of interest-only securities) | 2,521,029 | [1] | 2,416,635 | 2,521,029 | [1] | 2,416,635 | $ 2,351,698 | [1] |
Unfunded lending-related commitments | 978,611 | $ 940,786 | 978,611 | $ 940,786 | 940,395 | |||
Nonconsolidated rirm-sponsored private-label re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Total assets (including notional amount of interest-only securities) | 2,400 | 2,400 | 2,200 | |||||
Re-securitization | Re-securitizations | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Senior and subordinated interest in nonconsolidated agency re-securitization entities | 1,300 | 1,300 | 4,600 | |||||
Multi-seller conduits | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Commercial paper eliminated in consolidation | 21,200 | 21,200 | 15,700 | |||||
Multi-seller conduits | Commercial and other | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Unfunded lending-related commitments | $ 9,100 | $ 9,100 | $ 5,600 | |||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2016, and December 31, 2015. 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, 2016 Dec 31, 2015Assets Trading assets$3,169 $3,736Loans76,333 75,104All other assets3,437 2,765Total assets$82,939 $81,605Liabilities Beneficial interests issued by consolidated VIEs$42,233 $41,879All other liabilities738 809Total liabilities$42,971 $42,688The 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 September 30, 2016, and December 31, 2015, the Firm provided limited program-wide credit enhancements of $2.4 billion and $2.0 billion respectively related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - No
Variable Interest Entities - Nonconsolidated Municipal Bond VIEs (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | $ 2,521,029 | [1] | $ 2,351,698 | [1] | $ 2,416,635 |
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 1,916 | 6,937 | |||
Liquidity facilities | 1,136 | 3,794 | |||
Excess/(deficit) | $ 780 | $ 3,143 | |||
Wt. avg. expected life of assets (years) | 3 years 8 months 12 days | 4 years | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade AAA to AAA- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | $ 474 | $ 1,743 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade AAplus to AA- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 1,195 | 4,631 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade Aplus to A- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 108 | 448 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Investment-grade BBBplus to BBB- | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 24 | 24 | |||
Nonconsolidated municipal bond vehicles | Municipal bond vehicles | Unrated | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Total assets | 115 | 91 | |||
Nonconsolidated entities | Municipal bond vehicles | |||||
Firm's exposure to nonconsolidated municipal bond VIEs [Abstract] | |||||
Maximum exposure | $ 1,136 | $ 3,794 | |||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2016, and December 31, 2015. 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, 2016 Dec 31, 2015Assets Trading assets$3,169 $3,736Loans76,333 75,104All other assets3,437 2,765Total assets$82,939 $81,605Liabilities Beneficial interests issued by consolidated VIEs$42,233 $41,879All other liabilities738 809Total liabilities$42,971 $42,688The 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 September 30, 2016, and December 31, 2015, the Firm provided limited program-wide credit enhancements of $2.4 billion and $2.0 billion respectively related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - Co
Variable Interest Entities - Consolidated VIE Assets and Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 374,837 | $ 343,839 | ||||
Loans | 883,193 | 832,792 | $ 804,293 | |||
Other | 108,850 | 105,572 | ||||
Total assets | 2,521,029 | [1] | 2,351,698 | [1] | $ 2,416,635 | |
Beneficial interests issued by consolidated VIEs | 42,233 | 41,879 | ||||
Total liabilities | [1] | 2,266,698 | 2,104,125 | |||
VIEs consolidated by the Firm | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 76,333 | 75,104 | ||||
Other | 3,437 | 2,765 | ||||
Total assets | 82,939 | 81,605 | ||||
Beneficial interests issued by consolidated VIEs | 42,233 | 41,879 | ||||
Other | 738 | 809 | ||||
Total liabilities | 42,971 | 42,688 | ||||
Beneficial interests in VIE assets, long term | 35,600 | 30,600 | ||||
Beneficial interests in VIE assets, long term, maturing in less than one year | 11,600 | |||||
Beneficial interests in VIE assets, long term, maturing between one and five years | 21,300 | |||||
Beneficial interests in VIE assets, long term, maturing in more than five years | 2,700 | |||||
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 | 3,169 | 3,736 | ||||
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 | 45,011 | 47,358 | ||||
Other | 798 | 718 | ||||
Total assets | 45,809 | 48,076 | ||||
Beneficial interests issued by consolidated VIEs | 33,424 | 27,906 | ||||
Other | 18 | 15 | ||||
Total liabilities | 33,442 | 27,921 | ||||
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 | 24,833 | 24,388 | ||||
Other | 42 | 37 | ||||
Total assets | 24,875 | 24,425 | ||||
Beneficial interests issued by consolidated VIEs | 3,659 | 8,724 | ||||
Other | 31 | 19 | ||||
Total liabilities | 3,690 | 8,743 | ||||
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 | 9 | 5 | ||||
Total assets | 2,924 | 2,691 | ||||
Beneficial interests issued by consolidated VIEs | 2,962 | 2,597 | ||||
Other | 2 | 1 | ||||
Total liabilities | 2,964 | 2,598 | ||||
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 | 2,915 | 2,686 | ||||
VIEs consolidated by the Firm | Mortgage securitization entities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 4,742 | 1,433 | ||||
Other | 162 | 27 | ||||
Total assets | 4,977 | 2,300 | ||||
Beneficial interests issued by consolidated VIEs | 417 | 777 | ||||
Other | 563 | 643 | ||||
Total liabilities | 980 | 1,420 | ||||
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 | 73 | 840 | ||||
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 | 1,747 | 1,925 | ||||
Other | 55 | 62 | ||||
Total assets | 1,802 | 1,987 | ||||
Beneficial interests issued by consolidated VIEs | 1,583 | 1,760 | ||||
Other | 5 | 5 | ||||
Total liabilities | 1,588 | 1,765 | ||||
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 | 0 | 0 | ||||
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 | 2,371 | 1,916 | ||||
Total assets | 2,552 | 2,126 | ||||
Beneficial interests issued by consolidated VIEs | 188 | 115 | ||||
Other | 119 | 126 | ||||
Total liabilities | 307 | 241 | ||||
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 | $ 181 | $ 210 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2016, and December 31, 2015. 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, 2016 Dec 31, 2015Assets Trading assets$3,169 $3,736Loans76,333 75,104All other assets3,437 2,765Total assets$82,939 $81,605Liabilities Beneficial interests issued by consolidated VIEs$42,233 $41,879All other liabilities738 809Total liabilities$42,971 $42,688The 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 September 30, 2016, and December 31, 2015, the Firm provided limited program-wide credit enhancements of $2.4 billion and $2.0 billion respectively related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |
Variable Interest Entities - Se
Variable Interest Entities - Securitization Activity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Residential mortgage | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | $ 59,000,000 | $ 59,000,000 | ||
Commercial and other | Cash | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 0 | 0 | ||
Commercial and other | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 3,000,000,000 | 9,000,000,000 | ||
Commercial and other | Level 3 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | $ 0 | 5,000,000 | $ 2,000,000 | 43,000,000 |
Securitization entities not consolidated | Residential mortgage | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 698,000,000 | 971,000,000 | 1,111,000,000 | 2,663,000,000 |
All cash flows during the period: | ||||
Proceeds from new securitizations | 972,000,000 | 2,674,000,000 | ||
Servicing fees collected | 111,000,000 | 129,000,000 | 334,000,000 | 409,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 1,000,000 | 37,000,000 | 2,000,000 |
Cash flows received on interests | 121,000,000 | 122,000,000 | 326,000,000 | 308,000,000 |
Securitization entities not consolidated | Residential mortgage | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | 709,000,000 | 913,000,000 | 1,122,000,000 | 2,600,000,000 |
Securitization entities not consolidated | Commercial and other | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 3,428,000,000 | 2,982,000,000 | 5,786,000,000 | 9,033,000,000 |
All cash flows during the period: | ||||
Servicing fees collected | 1,000,000 | 0 | 2,000,000 | 2,000,000 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 0 |
Cash flows received on interests | 535,000,000 | 172,000,000 | 1,115,000,000 | 379,000,000 |
Securitization entities not consolidated | Commercial and other | Level 2 | ||||
All cash flows during the period: | ||||
Proceeds from new securitizations | $ 3,551,000,000 | $ 2,995,000,000 | $ 5,924,000,000 | $ 9,053,000,000 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Summary of loan sale activities [Abstract] | |||||
Carrying value of loans sold | $ 14,811 | $ 11,394 | $ 32,647 | $ 34,193 | |
Proceeds received from loan sales as cash | 68 | 139 | 306 | 238 | |
Proceeds from loans sales as securities | 14,610 | 11,170 | 32,113 | 33,758 | |
Total proceeds received from loan sales | 14,678 | 11,309 | 32,419 | 33,996 | |
Gains on loan sales | 50 | $ 61 | 164 | $ 238 | |
Loans repurchased | 9,900 | 9,900 | $ 11,100 | ||
Real estate acquired through foreclosure | $ 163 | $ 163 | $ 343 |
Variable Interest Entities -122
Variable Interest Entities - Loan Delinquencies and Net Charge-offs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Total assets held by securitization VIEs | $ 209,814 | $ 209,814 | $ 233,550 | ||
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 | 107,288 | 107,288 | 123,474 | ||
Securitized loans | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 12,212 | 12,212 | 15,581 | ||
Liquidation losses | 633 | $ 1,077 | 2,395 | $ 2,857 | |
Securitized loans in which the firm has no continuing involvement | 51,100 | 51,100 | 62,400 | ||
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 | 1,324 | 1,324 | 1,808 | ||
Liquidation losses | 78 | 211 | 564 | 350 | |
Nonconsolidated entities | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 153,838 | 153,838 | 169,576 | ||
Nonconsolidated entities | Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 73,454 | 73,454 | 80,319 | ||
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 | 4,861 | 4,861 | 1,571 | ||
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 | 107 | 107 | 107 | ||
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 | 80,226 | 80,226 | 85,687 | ||
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 | 6,509 | 6,509 | 8,325 | ||
Liquidation losses | 275 | 486 | 933 | 1,402 | |
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 | 59,790 | 59,790 | 66,708 | ||
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 | 4,749 | 4,749 | 1,400 | ||
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 | 22,300 | 22,300 | 24,389 | ||
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 | 4,379 | 4,379 | 5,448 | ||
Liquidation losses | 280 | $ 380 | 898 | $ 1,105 | |
Subprime | Nonconsolidated entities | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 20,594 | 20,594 | 22,549 | ||
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 | $ 5 | $ 5 | $ 64 |
Goodwill and Other Intangibl123
Goodwill and Other Intangible Assets - by Business Segment (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Goodwill [Line Items] | ||||||
Goodwill | $ 47,302 | $ 47,303 | $ 47,325 | $ 47,405 | $ 47,476 | $ 47,647 |
Consumer & Community Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 30,806 | 30,769 | ||||
Corporate & Investment Bank | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 6,775 | 6,772 | ||||
Commercial Banking | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 2,861 | 2,861 | ||||
Asset Management | ||||||
Goodwill [Line Items] | ||||||
Goodwill | $ 6,860 | $ 6,923 |
Goodwill and Other Intangibl124
Goodwill and Other Intangible Assets - Changes During Period (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Goodwill [Roll Forward] | ||||
Balance at beginning of period | $ 47,303 | $ 47,476 | $ 47,325 | $ 47,647 |
Changes during the period from: | ||||
Business combinations | 0 | 8 | 0 | 25 |
Dispositions | 0 | 0 | (71) | (101) |
Other | (1) | (79) | 48 | (166) |
Balance at end of period | $ 47,302 | $ 47,405 | $ 47,302 | $ 47,405 |
Goodwill and Other Intangibl125
Goodwill and Other Intangible Assets - Mortgage Servicing Rights (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Mortgage servicing rights activity [Abstract] | ||||
Fair value at beginning of period | $ 5,072 | $ 7,571 | $ 6,608 | $ 7,436 |
MSR activity: | ||||
Originations of MSRs | 190 | 147 | 410 | 447 |
Purchase of MSRs | 0 | (4) | 0 | 435 |
Disposition of MSRs | (5) | 0 | (72) | (375) |
Net additions | 185 | 143 | 338 | 507 |
Changes due to collection/realization of expected cash flows | (233) | (233) | (713) | (677) |
Changes in valuation due to inputs and assumptions: | ||||
Changes due to market interest rates and other | (35) | (677) | (1,230) | (338) |
Changes in valuation due to other inputs and assumptions: | ||||
Projected cash flows (e.g., cost to service) | (21) | (76) | (28) | (103) |
Discount rates | 0 | 0 | 7 | (10) |
Prepayment model changes and other | (31) | (12) | (45) | (99) |
Total changes in valuation due to other inputs and assumptions | (52) | (88) | (66) | (212) |
Total changes in valuation due to inputs and assumptions | (87) | (765) | (1,296) | (550) |
Fair value at ending of period | 4,937 | 6,716 | 4,937 | 6,716 |
Change in unrealized gains/(losses) included in income related to MSRs | (87) | (765) | (1,296) | (550) |
Contractual service fees, late fees and other ancillary fees included in income | 523 | 634 | 1,629 | 1,945 |
Third-party mortgage loans serviced | 611,000 | 706,000 | 611,000 | 706,000 |
Net servicer advances | $ 5,000 | $ 6,600 | $ 5,000 | $ 6,600 |
Goodwill and Other Intangibl126
Goodwill and Other Intangible Assets - Mortgage Fees and Related Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Risk management: | ||||
All other | $ 0 | $ 0 | $ 0 | $ 2 |
Mortgage fees and related income | 624 | 469 | 1,980 | 1,957 |
Consumer & Community Banking | ||||
CCB mortgage fees and related income | ||||
Net production revenue | 247 | 176 | 670 | 646 |
Operating revenue: | ||||
Loan servicing revenue | 571 | 648 | 1,780 | 2,104 |
Changes in MSR asset fair value due to collection/realization of expected cash flows | (232) | (232) | (710) | (674) |
Total operating revenue | 339 | 416 | 1,070 | 1,430 |
Risk management: | ||||
Changes in MSR asset fair value due to market interest rates and other | (35) | (677) | (1,230) | (338) |
Other changes in MSR asset fair value due to inputs or assumptions in model | (52) | (88) | (66) | (212) |
Change in derivative fair value and other | 125 | 642 | 1,536 | 429 |
Total risk management | 38 | (123) | 240 | (121) |
Total net mortgage servicing revenue | 377 | 293 | 1,310 | 1,309 |
Mortgage fees and related income | $ 624 | $ 469 | $ 1,980 | $ 1,955 |
Goodwill and Other Intangibl127
Goodwill and Other Intangible Assets - Key Economic Assumptions (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Weighted-average prepayment speed assumption (“CPR”) | 14.43% | 9.81% |
Impact on fair value of 10% adverse change | $ (262) | $ (275) |
Impact on fair value of 20% adverse change | $ (500) | $ (529) |
Weighted-average option adjusted spread | 9.87% | 9.54% |
Impact on fair value of a 100 basis point adverse change | $ (177) | $ (258) |
Impact on fair value of a 200 basis point adverse change | $ (340) | $ (498) |
Deposits - Noninterest and Inte
Deposits - Noninterest and Interest-bearing (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
U.S. offices | ||
Noninterest-bearing | $ 409,912 | $ 392,721 |
Interest-bearing (included $11,624 and $10,916 at fair value)(a) | 722,294 | 663,004 |
Total deposits in U.S. offices | 1,132,206 | 1,055,725 |
Non-U.S. offices | ||
Noninterest-bearing | 19,397 | 18,921 |
Interest-bearing (included $X,XXX and $1,600 at fair value) | 224,535 | 205,069 |
Total deposits in non-U.S. offices | 243,932 | 223,990 |
Total deposits | 1,376,138 | 1,279,715 |
Fair value | ||
U.S. offices | ||
Interest-bearing, fair value | 11,624 | 10,916 |
Non-U.S. offices | ||
Interest-bearing, fair value | $ 1,367 | $ 1,600 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Basic earnings per share | ||||
Net income | $ 6,286 | $ 6,804 | $ 18,006 | $ 19,008 |
Less: Preferred stock dividends | 412 | 393 | 1,235 | 1,097 |
Net income applicable to common equity | 5,874 | 6,411 | 16,771 | 17,911 |
Less: Dividends and undistributed earnings allocated to participating securities | 127 | 141 | 368 | 413 |
Net income applicable to common stockholders | $ 5,747 | $ 6,270 | $ 16,403 | $ 17,498 |
Total weighted-average basic shares outstanding (in shares) | 3,597.4 | 3,694.4 | 3,634.4 | 3,709.2 |
Net income per share (in dollars per share) | $ 1.60 | $ 1.70 | $ 4.51 | $ 4.72 |
Diluted earnings per share | ||||
Net income applicable to common stockholders | $ 5,747 | $ 6,270 | $ 16,403 | $ 17,498 |
Total weighted-average basic shares outstanding (in shares) | 3,597.4 | 3,694.4 | 3,634.4 | 3,709.2 |
Add: Employee stock options, SARs and warrants (in shares) | 32.2 | 31.2 | 29.9 | 33 |
Total weighted-average diluted shares outstanding (in shares) | 3,629.6 | 3,725.6 | 3,664.3 | 3,742.2 |
Net income per share (in dollars per share) | $ 1.58 | $ 1.68 | $ 4.48 | $ 4.68 |
Accumulated Other Comprehens130
Accumulated Other Comprehensive Income/(Loss) - Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | $ 247,573 | |||||
Cumulative effect of change in accounting principle | $ 154 | |||||
Net change | $ (144) | $ (351) | 1,128 | $ (1,438) | ||
Ending balance | 254,331 | 245,728 | 254,331 | 245,728 | ||
Unrealized gains/(losses) on investment securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | 3,921 | 3,443 | 2,629 | 4,773 | ||
Cumulative effect of change in accounting principle | 0 | |||||
Net change | (160) | (291) | 1,132 | (1,621) | ||
Ending balance | 3,761 | 3,152 | 3,761 | 3,152 | ||
Translation adjustments, net of hedges | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (161) | (154) | (162) | (147) | ||
Cumulative effect of change in accounting principle | 0 | |||||
Net change | 4 | (5) | 5 | (12) | ||
Ending balance | (157) | (159) | (157) | (159) | ||
Cash flow hedges | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (201) | 62 | (44) | (95) | ||
Cumulative effect of change in accounting principle | 0 | |||||
Net change | 36 | (106) | (121) | 51 | ||
Ending balance | (165) | (44) | (165) | (44) | ||
Defined benefit pension and OPEB plans | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (2,150) | (2,249) | (2,231) | (2,342) | ||
Cumulative effect of change in accounting principle | 0 | |||||
Net change | 42 | 51 | 123 | 144 | ||
Ending balance | (2,108) | (2,198) | (2,108) | (2,198) | ||
DVA on fair value option elected liabilities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | 209 | |||||
Cumulative effect of change in accounting principle | 154 | |||||
Net change | (66) | (11) | ||||
Ending balance | 143 | 143 | ||||
Accumulated other comprehensive income/(loss) | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | 1,618 | 1,102 | 192 | 2,189 | ||
Cumulative effect of change in accounting principle | $ 154 | $ 0 | ||||
Net change | 1,128 | (1,438) | ||||
Ending balance | $ 1,474 | $ 751 | $ 1,474 | $ 751 |
Accumulated Other Comprehens131
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Unrealized gains/(losses) on AFS securities: | |||||
Total other comprehensive income/(loss), after–tax | $ (144) | $ (351) | $ 1,128 | $ (1,438) | |
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/Translation, Pretax | (192) | (430) | 1,948 | (2,548) | |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 72 | 160 | (731) | 1,008 | |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | (120) | (270) | 1,217 | (1,540) | |
Reclassification, Pretax | (64) | (33) | (136) | (129) | |
Reclassification, Tax effect | 24 | 12 | 51 | 48 | |
Reclassification, After-tax | (40) | (21) | (85) | (81) | |
Net change, Pretax | (256) | (463) | 1,812 | (2,677) | |
Net change, Tax effect | 96 | 172 | (680) | 1,056 | |
Total other comprehensive income/(loss), after–tax | (160) | (291) | 1,132 | (1,621) | |
Translation adjustments | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net unrealized gains/(losses) arising during the period/Translation, Pretax | 34 | (912) | 613 | (1,645) | |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | (12) | 340 | (228) | 601 | |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | 22 | (572) | 385 | (1,044) | |
Reclassification, Pretax | (30) | 908 | (603) | 1,651 | |
Reclassification, Tax effect | 12 | (341) | 223 | (619) | |
Reclassification, After-tax | (18) | 567 | (380) | 1,032 | |
Net change, Pretax | 4 | (4) | 10 | 6 | |
Net change, Tax effect | 0 | (1) | (5) | (18) | |
Total other comprehensive income/(loss), after–tax | 4 | (5) | 5 | (12) | |
Cash flow hedges | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net unrealized gains/(losses) arising during the period/Translation, Pretax | (64) | (175) | (418) | (104) | |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 23 | 66 | 156 | 38 | |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | (41) | (109) | (262) | (66) | |
Reclassification, Pretax | 122 | 5 | 225 | 187 | |
Reclassification, Tax effect | (45) | (2) | (84) | (70) | |
Reclassification, After-tax | 77 | 3 | 141 | 117 | |
Net change, Pretax | 58 | (170) | (193) | 83 | |
Net change, Tax effect | (22) | 64 | 72 | (32) | |
Total other comprehensive income/(loss), after–tax | 36 | (106) | (121) | 51 | |
Defined benefit pension and OPEB plans | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net change, Pretax | 68 | 82 | 197 | 306 | |
Net change, Tax effect | (26) | (31) | (74) | (162) | |
Total other comprehensive income/(loss), after–tax | 42 | 51 | 123 | 144 | |
Net gain/(losses)/Amortization of net loss | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net unrealized gains/(losses) arising during the period/Translation, Pretax | 0 | 0 | (15) | 101 | |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 0 | 0 | 6 | (39) | |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | 0 | 0 | (9) | 62 | |
Reclassification, Pretax | 65 | 71 | 193 | 212 | |
Reclassification, Tax effect | (24) | (27) | (73) | (80) | |
Reclassification, After-tax | 41 | 44 | 120 | 132 | |
Prior service costs/(credits) | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Reclassification, Pretax | (9) | (9) | (27) | (27) | |
Reclassification, Tax effect | 3 | 3 | 10 | 10 | |
Reclassification, After-tax | (6) | (6) | (17) | (17) | |
Foreign exchange and other | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Reclassification, Pretax | 12 | 20 | 46 | 20 | |
Reclassification, Tax effect | (5) | (7) | (17) | (53) | |
Reclassification, After-tax | 7 | 13 | 29 | (33) | |
DVA on fair value option elected liabilities, net change | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net change, Pretax | (106) | (18) | |||
Net change, Tax effect | 40 | 7 | |||
Total other comprehensive income/(loss), after–tax | (66) | (11) | |||
Accumulated other comprehensive income/(loss) | |||||
Unrealized gains/(losses) on AFS securities: | |||||
Net change, Pretax | (232) | (555) | 1,808 | (2,282) | |
Net change, Tax effect | $ 88 | $ 204 | (680) | 844 | |
Total other comprehensive income/(loss), after–tax | $ 1,128 | $ (1,438) |
Regulatory Capital (Details)
Regulatory Capital (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Basel III | ||
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ||
Adjustments to capital for deferred tax liabilities resulting from nontaxable business combinations | $ 88 | $ 105 |
Adjustments to capital for deferred tax liabilities resulting from tax-deductible goodwill | 3,100 | 3,000 |
JPMorgan Chase & Co. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | 181,606 | 175,398 |
Tier 1 capital | 206,430 | 200,482 |
Total capital | 241,004 | 234,413 |
Assets | ||
Risk-weighted | 1,480,291 | 1,465,262 |
Adjusted average | $ 2,427,423 | $ 2,358,471 |
Capital ratios | ||
CET1 | 12.30% | 12.00% |
Tier 1 | 13.90% | 13.70% |
Total | 16.30% | 16.00% |
Tier 1 leverage | 8.50% | 8.50% |
JPMorgan Chase & Co. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 181,606 | $ 175,398 |
Tier 1 capital | 206,430 | 200,482 |
Total capital | 229,324 | 224,616 |
Assets | ||
Risk-weighted | 1,515,177 | 1,485,336 |
Adjusted average | $ 2,427,423 | $ 2,358,471 |
Capital ratios | ||
CET1 | 12.00% | 11.80% |
Tier 1 | 13.60% | 13.50% |
Total | 15.10% | 15.10% |
Tier 1 leverage | 8.50% | 8.50% |
JPMorgan Chase Bank, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | $ 176,083 | $ 168,857 |
Tier 1 capital | 176,375 | 169,222 |
Total capital | 190,955 | 183,262 |
Assets | ||
Risk-weighted | 1,319,671 | 1,264,056 |
Adjusted average | $ 2,041,246 | $ 1,910,934 |
Capital ratios | ||
CET1 | 13.30% | 13.40% |
Tier 1 | 13.40% | 13.40% |
Total | 14.50% | 14.50% |
Tier 1 leverage | 8.60% | 8.90% |
JPMorgan Chase Bank, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 176,083 | $ 168,857 |
Tier 1 capital | 176,375 | 169,222 |
Total capital | 182,984 | 176,423 |
Assets | ||
Risk-weighted | 1,302,659 | 1,249,607 |
Adjusted average | $ 2,041,246 | $ 1,910,934 |
Capital ratios | ||
CET1 | 13.50% | 13.50% |
Tier 1 | 13.50% | 13.50% |
Total | 14.00% | 14.10% |
Tier 1 leverage | 8.60% | 8.90% |
Chase Bank USA, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | $ 16,597 | $ 15,419 |
Tier 1 capital | 16,597 | 15,419 |
Total capital | 22,602 | 21,418 |
Assets | ||
Risk-weighted | 106,507 | 105,807 |
Adjusted average | $ 121,335 | $ 134,152 |
Capital ratios | ||
CET1 | 15.60% | 14.60% |
Tier 1 | 15.60% | 14.60% |
Total | 21.20% | 20.20% |
Tier 1 leverage | 13.70% | 11.50% |
Chase Bank USA, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 16,597 | $ 15,419 |
Tier 1 capital | 16,597 | 15,419 |
Total capital | 21,247 | 20,069 |
Assets | ||
Risk-weighted | 184,858 | 181,775 |
Adjusted average | $ 121,335 | $ 134,152 |
Capital ratios | ||
CET1 | 9.00% | 8.50% |
Tier 1 | 9.00% | 8.50% |
Total | 11.50% | 11.00% |
Tier 1 leverage | 13.70% | 11.50% |
Bank Holding Companies | Basel III | ||
Capital ratios | ||
CET1 - Minimum capital ratios | 6.25% | |
CET1 - Well-capitalized ratios | 0.00% | |
Tier 1 - Minimum capital ratio | 7.75% | |
Tier 1 - Well capitalized ratio | 6.00% | |
Total - Minimum capital ratio | 9.75% | |
Total - Well-capitalized ratio | 10.00% | |
Tier 1 leverage - Minimum capital ratio | 4.00% | |
Tier 1 leverage - Well-capitalized ratio | 0.00% | |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ||
Capital conservation buffer phase-in amount | 0.625% | |
Capital conservation buffer | 2.50% | |
GSIB surcharge phase-in amount | 1.125% | |
GSIB surcharge | 4.50% | |
Insured Depository Institutions | Basel III | ||
Capital ratios | ||
CET1 - Minimum capital ratios | 5.125% | |
CET1 - Well-capitalized ratios | 6.50% | |
Tier 1 - Minimum capital ratio | 6.625% | |
Tier 1 - Well capitalized ratio | 8.00% | |
Total - Minimum capital ratio | 8.625% | |
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] | ||
Capital conservation buffer phase-in amount | 0.625% | |
Capital conservation buffer | 2.50% |
Off-balance Sheet Lending-re133
Off-balance Sheet Lending-related Financial Instruments, Guarantees and Other Commitments (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | $ 978,611 | $ 940,395 | $ 940,786 |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 676,654 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 130,472 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 151,431 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 20,054 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 1,526 | 1,213 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Unfunded commitments investments private equity funds third party | 49 | 50 | |
Unfunded commitments investments other equity investments | 1,400 | 871 | |
Investments entities that calculate net asset value per share, unfunded commitments | 67 | 73 | |
Non-investment grade | Leveraged Finance | |||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for other unfunded commitments to extend credit | 60,600 | ||
Maximum | |||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Secured clearance advance facility maximum outstanding commitment | 2,400 | 2,900 | |
Wholesale | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 368,987 | $ 354,348 | |
Consumer Loan | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 609,624 | 573,996 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 590,100 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 5,804 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 1,329 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 12,391 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 14 | 14 | |
Total consumer, excluding credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 59,990 | 58,478 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 40,466 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 5,804 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 1,329 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 12,391 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 14 | 14 | |
Home equity | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 21,812 | 22,756 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 4,272 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 4,628 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 1,038 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 11,874 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Mortgage | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 14,896 | 12,992 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 14,896 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 0 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Mortgage | Warranty Reserves | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Allowance for lending-related commitments | 136 | 148 | |
Auto | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 10,199 | 10,237 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 9,538 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 500 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 160 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 1 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 2 | 2 | |
Business banking | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 12,939 | 12,351 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 11,653 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 676 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 131 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 479 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 12 | 12 | |
Student and other | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 144 | 142 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 107 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 37 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 549,634 | 515,518 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 549,634 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 0 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Total wholesale | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 368,987 | 366,399 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 86,554 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 124,668 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 150,102 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 7,663 | ||
Off-balance sheet lending-related financial commitments, Carrying value | $ 1,512 | $ 1,199 | |
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 | 75.00% | 77.00% | |
Other unfunded commitments to extend credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | $ 329,593 | $ 323,325 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 67,028 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 113,031 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 142,917 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 6,617 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 938 | 649 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for other unfunded commitments to extend credit | 345 | 385 | |
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 10,300 | 12,300 | |
Standby letters of credit and other financial guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 36,247 | 39,133 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 16,571 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 11,482 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 7,148 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 1,046 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 573 | 548 | |
Guarantor obligations, Carrying value | 426 | 427 | |
Allowance for lending-related commitments | 147 | 121 | |
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 | 10,600 | 11,200 | |
Credit enhancements and bond and commercial paper liquidity commitments to US states and municipalities hospitals and other not for profit entities | 7,400 | 9,600 | |
Other letters of credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 3,147 | 3,941 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in less than one year | 2,955 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between one and three years | 155 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring between three and five years | 37 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in more than five years | 0 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 1 | 2 | |
Guarantor obligations, Carrying value | 0 | 0 | |
Allowance for lending-related commitments | 1 | 2 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for other letters of credit | 320 | 341 | |
Securities lending indemnification agreements and guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 163,855 | 183,329 | |
Other guarantees and commitments, Contractual amount, Expiring in less than one year | 163,855 | ||
Other guarantees and commitments, Contractual amount, Expiring between one and three years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring between three and five years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring in more than five years | 0 | ||
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 | 170,300 | 190,600 | |
Derivatives qualifying as guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 53,906 | 53,784 | |
Other guarantees and commitments, Contractual amount, Expiring in less than one year | 2,900 | ||
Other guarantees and commitments, Contractual amount, Expiring between one and three years | 724 | ||
Other guarantees and commitments, Contractual amount, Expiring between three and five years | 10,922 | ||
Other guarantees and commitments, Contractual amount, Expiring in more than five years | 39,360 | ||
Guarantor obligations, Carrying value | 230 | 222 | |
Unsettled reverse repurchase and securities borrowing agreements | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 76,810 | 42,482 | |
Other guarantees and commitments, Contractual amount, Expiring in less than one year | 76,810 | ||
Other guarantees and commitments, Contractual amount, Expiring between one and three years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring between three and five years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring in more than five years | 0 | ||
Guarantor obligations, Carrying value | 0 | 0 | |
Unsettled repurchase and securities lending agreements | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 54,023 | 21,798 | |
Other guarantees and commitments, Contractual amount, Expiring in less than one year | 54,023 | ||
Guarantor obligations, Carrying value | 0 | ||
Loans sold with recourse | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan sale and securitization-related indemnifications, Contractual amount | 3,303 | 4,274 | |
Loan sale and securitization-related indemnifications, Carrying value | 66 | 82 | |
Other guarantees and commitments | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 6,202 | 5,580 | |
Other guarantees and commitments, Contractual amount, Expiring in less than one year | 954 | ||
Other guarantees and commitments, Contractual amount, Expiring between one and three years | 2,662 | ||
Other guarantees and commitments, Contractual amount, Expiring between three and five years | 1,033 | ||
Other guarantees and commitments, Contractual amount, Expiring in more than five years | 1,553 | ||
Guarantor obligations, Carrying value | (72) | (94) | |
Letters of credit hedged by derivative transactions | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | $ 4,700 | $ 4,600 | |
Days Past Due, 60 or More | Credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Line of credit close criteria, period past due | 60 days |
Off-balance Sheet Lending-re134
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 | Sep. 30, 2016 | Dec. 31, 2015 |
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Total lending-related commitments | $ 940,786 | $ 978,611 | $ 940,395 |
Off-balance sheet lending-related financial commitments, Carrying value | 1,526 | 1,213 | |
Derivatives qualifying as guarantees | |||
Notional amount on stable value contracts | 51,463,000 | 50,659,000 | |
JPMorgan Chase Financial Company LLC (JPMFC) | |||
Other off-balance sheet arrangements | |||
Direct-owned finance subsidiary ownership | 100.00% | ||
Standby letters of credit and other financial guarantees | |||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Investment-grade | 28,388 | 31,751 | |
Noninvestment-grade | 7,859 | 7,382 | |
Total lending-related commitments | 36,247 | 39,133 | |
Allowance for lending-related commitments | 147 | 121 | |
Guarantee liability and corresponding asset | 426 | 427 | |
Off-balance sheet lending-related financial commitments, Carrying value | 573 | 548 | |
Standby Letters of Credit, Supported by Collateral | 20,359 | 18,825 | |
Other letters of credit | |||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Investment-grade | 2,497 | 3,290 | |
Noninvestment-grade | 650 | 651 | |
Total lending-related commitments | 3,147 | 3,941 | |
Allowance for lending-related commitments | 1 | 2 | |
Guarantee liability and corresponding asset | 0 | 0 | |
Off-balance sheet lending-related financial commitments, Carrying value | 1 | 2 | |
Other Letters of Credit, Supported by Collateral | 580 | 996 | |
Derivatives qualifying as guarantees | |||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Guarantee liability and corresponding asset | 230 | 222 | |
Derivatives qualifying as guarantees | |||
Total notional value of derivatives the Firm deems guarantees | 53,906 | 53,784 | |
Notional amount on stable value contracts | 28,600 | 28,400 | |
Maximum exposure to loss | 3,000 | 3,000 | |
Derivative qualifying as guarantees payables | 237 | 236 | |
Derivative qualifying as guarantees receivables | $ 7 | $ 14 |
Pledged Assets and Collateral (
Pledged Assets and Collateral (Details) - USD ($) $ in Billions | Sep. 30, 2016 | Dec. 31, 2015 |
Pledged assets and Collateral | ||
Financial instruments pledged by the Firm that may not be sold or repledged by the secured parties | $ 54.8 | $ 50.7 |
Fair value of financial assets accepted as collateral to sell or repledge, deliver or otherwise use | 893.8 | 748.5 |
Collateral received that was sold or repledged | 710.5 | 580.9 |
Assets pledged to Federal Reserve Banks and Federal Home Loan Banks | ||
Pledged assets and Collateral | ||
Pledged assets | $ 425.6 | $ 385.6 |
Litigation (Details)
Litigation (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jan. 31, 2016USD ($) | Jan. 31, 2015actionclaim | Sep. 30, 2016USD ($)actionentityclaiminvestorobjectortrust | Sep. 30, 2015USD ($)action | Sep. 30, 2016USD ($)transactionactionentityclaiminvestorobjectordefendanttrustmunicipality | Sep. 30, 2015USD ($)action | |
Loss Contingencies [Line Items] | ||||||
Legal expense/(benefit) | $ (71,000,000) | $ 1,347,000,000 | $ (547,000,000) | $ 2,325,000,000 | ||
CIO Investigations and Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Settlement of class action | $ 150,000,000 | $ 150,000,000 | ||||
Number of individuals with objections approved | objector | 2 | 2 | ||||
Number of objectors to appeal | objector | 1 | 1 | ||||
Madoff Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Number of legal proceedings | action | 3 | 3 | ||||
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 | 3,100,000,000 | 3,100,000,000 | ||||
Foreign Exchange Investigations and Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Number of actions dismissed | action | 1 | |||||
Foreign Exchange Investigations and Litigation | CANADA | ||||||
Loss Contingencies [Line Items] | ||||||
Number of legal proceedings | action | 2 | 2 | ||||
Foreign Exchange Investigations and Litigation | ERISA Actions | ||||||
Loss Contingencies [Line Items] | ||||||
Number of actions pending | action | 1 | |||||
General Motors Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
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% | |||||
Basis points of credit card 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 | ||||
Damages sought value (more than $1 billion) | $ 1,000,000,000 | |||||
Lehman Brothers Bankruptcy Proceedings | ||||||
Loss Contingencies [Line Items] | ||||||
Damages sought value (more than $1 billion) | $ 7,900,000,000 | |||||
Civil money penalty | 1,420,000,000 | |||||
Lehman Brothers Bankruptcy Proceedings | Claims Objections Relating to Securities Lending Claims and Smaller Claims [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of legal proceedings | claim | 2 | |||||
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 | |||||
MBS Related to Investor Action | Pending Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Number of actions pending | claim | 1 | 1 | ||||
MBS Related to Underwriter Actions | Pending Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Number of actions pending | claim | 1 | 1 | ||||
MBS Related to Individual Purchaser Actions | Pending Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Number of actions pending | claim | 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] | ||||||
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 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] | ||||||
Civil money penalty | $ 48,000,000 | |||||
Number of municipalities pursuing investigations into the impact if any of alleged violations of the FHA and ECOA on their respective communities | municipality | 3 | |||||
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 | |||||
Petters Bankruptcy and Related Matters | ||||||
Loss Contingencies [Line Items] | ||||||
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 | ||||
Damages sought recoveries value | $ 450,000,000 | |||||
Washington Mutual Litigations | Minimum | ||||||
Loss Contingencies [Line Items] | ||||||
Damages sought value (more than $1 billion) | 6,000,000,000 | |||||
Washington Mutual Litigations | Maximum | ||||||
Loss Contingencies [Line Items] | ||||||
Damages sought value (more than $1 billion) | $ 10,000,000,000 |
Business Segments (Details)
Business Segments (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)segment | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | [1] | |||
Segment Reporting Information [Line Items] | ||||||||
Number of reportable segments | segment | 4 | |||||||
Noninterest revenue | $ 13,070 | $ 11,856 | $ 37,962 | $ 38,373 | ||||
Net interest income | 11,603 | 10,924 | 34,330 | 32,285 | ||||
Total net revenue | 24,673 | 22,780 | 72,292 | 70,658 | ||||
Provision for credit losses | 1,271 | 682 | 4,497 | 2,576 | ||||
Noninterest expense | 14,463 | 15,368 | 41,938 | 44,751 | ||||
Income before income tax expense/(benefit) | 8,939 | 6,730 | 25,857 | 23,331 | ||||
Income tax expense/(benefit) | 2,653 | (74) | 7,851 | 4,323 | ||||
Net income | 6,286 | 6,804 | 18,006 | 19,008 | ||||
Average common equity | 226,089 | 217,023 | 224,034 | 214,389 | ||||
Total assets | $ 2,521,029 | [1] | $ 2,416,635 | $ 2,521,029 | [1] | $ 2,416,635 | $ 2,351,698 | |
Return on common equity | 10.00% | 12.00% | 10.00% | 11.00% | ||||
Overhead ratio | 59.00% | 67.00% | 58.00% | 63.00% | ||||
Operating Segments | Consumer & Community Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 3,868 | $ 3,729 | $ 11,812 | $ 11,554 | ||||
Net interest income | 7,460 | 7,150 | 22,084 | 21,044 | ||||
Total net revenue | 11,328 | 10,879 | 33,896 | 32,598 | ||||
Provision for credit losses | 1,294 | 389 | 3,545 | 2,021 | ||||
Noninterest expense | 6,510 | 6,237 | 18,602 | 18,637 | ||||
Income before income tax expense/(benefit) | 3,524 | 4,253 | 11,749 | 11,940 | ||||
Income tax expense/(benefit) | 1,320 | 1,623 | 4,399 | 4,558 | ||||
Net income | 2,204 | 2,630 | 7,350 | 7,382 | ||||
Average common equity | 51,000 | 51,000 | 51,000 | 51,000 | ||||
Total assets | $ 521,276 | $ 484,253 | $ 521,276 | $ 484,253 | ||||
Return on common equity | 16.00% | 20.00% | 18.00% | 18.00% | ||||
Overhead ratio | 57.00% | 57.00% | 55.00% | 57.00% | ||||
Operating Segments | Corporate & Investment Bank | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 6,690 | $ 5,748 | $ 18,699 | $ 19,055 | ||||
Net interest income | 2,765 | 2,420 | 8,056 | 7,418 | ||||
Total net revenue | 9,455 | 8,168 | 26,755 | 26,473 | ||||
Provision for credit losses | 67 | 232 | 761 | 251 | ||||
Noninterest expense | 4,934 | 6,131 | 14,820 | 16,925 | ||||
Income before income tax expense/(benefit) | 4,454 | 1,805 | 11,174 | 9,297 | ||||
Income tax expense/(benefit) | 1,542 | 341 | 3,790 | 2,955 | ||||
Net income | 2,912 | 1,464 | 7,384 | 6,342 | ||||
Average common equity | 64,000 | 62,000 | 64,000 | 62,000 | ||||
Total assets | $ 825,933 | $ 801,133 | $ 825,933 | $ 801,133 | ||||
Return on common equity | 17.00% | 8.00% | 14.00% | 13.00% | ||||
Overhead ratio | 52.00% | 75.00% | 55.00% | 64.00% | ||||
Operating Segments | Commercial Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 578 | $ 522 | $ 1,720 | $ 1,767 | ||||
Net interest income | 1,292 | 1,122 | 3,770 | 3,358 | ||||
Total net revenue | 1,870 | 1,644 | 5,490 | 5,125 | ||||
Provision for credit losses | (121) | 82 | 158 | 325 | ||||
Noninterest expense | 746 | 719 | 2,190 | 2,131 | ||||
Income before income tax expense/(benefit) | 1,245 | 843 | 3,142 | 2,669 | ||||
Income tax expense/(benefit) | 467 | 325 | 1,172 | 1,028 | ||||
Net income | 778 | 518 | 1,970 | 1,641 | ||||
Average common equity | 16,000 | 14,000 | 16,000 | 14,000 | ||||
Total assets | $ 212,189 | $ 201,157 | $ 212,189 | $ 201,157 | ||||
Return on common equity | 18.00% | 14.00% | 15.00% | 15.00% | ||||
Overhead ratio | 40.00% | 44.00% | 40.00% | 42.00% | ||||
Operating Segments | Asset Management | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 2,277 | $ 2,261 | $ 6,714 | $ 7,189 | ||||
Net interest income | 770 | 633 | 2,244 | 1,885 | ||||
Total net revenue | 3,047 | 2,894 | 8,958 | 9,074 | ||||
Provision for credit losses | 32 | (17) | 37 | (13) | ||||
Noninterest expense | 2,130 | 2,109 | 6,303 | 6,690 | ||||
Income before income tax expense/(benefit) | 885 | 802 | 2,618 | 2,397 | ||||
Income tax expense/(benefit) | 328 | 327 | 953 | 969 | ||||
Net income | 557 | 475 | 1,665 | 1,428 | ||||
Average common equity | 9,000 | 9,000 | 9,000 | 9,000 | ||||
Total assets | $ 137,295 | $ 131,412 | $ 137,295 | $ 131,412 | ||||
Return on common equity | 24.00% | 20.00% | 24.00% | 20.00% | ||||
Overhead ratio | 70.00% | 73.00% | 70.00% | 74.00% | ||||
Operating Segments | Corporate | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 197 | $ 73 | $ 637 | $ 213 | ||||
Net interest income | (385) | (123) | (927) | (597) | ||||
Total net revenue | (188) | (50) | (290) | (384) | ||||
Provision for credit losses | (1) | (4) | (4) | (8) | ||||
Noninterest expense | 143 | 172 | 23 | 368 | ||||
Income before income tax expense/(benefit) | (330) | (218) | (309) | (744) | ||||
Income tax expense/(benefit) | (165) | (1,935) | 54 | (2,959) | ||||
Net income | (165) | 1,717 | (363) | 2,215 | ||||
Average common equity | 86,089 | 81,023 | 84,034 | 78,389 | ||||
Total assets | 824,336 | 798,680 | 824,336 | 798,680 | ||||
Reconciling Items | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | (540) | (477) | (1,620) | (1,405) | ||||
Net interest income | (299) | (278) | (897) | (823) | ||||
Total net revenue | (839) | (755) | (2,517) | (2,228) | ||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||
Noninterest expense | 0 | 0 | 0 | 0 | ||||
Income before income tax expense/(benefit) | (839) | (755) | (2,517) | (2,228) | ||||
Income tax expense/(benefit) | (839) | (755) | (2,517) | (2,228) | ||||
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, 2016, and December 31, 2015. 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, 2016 Dec 31, 2015Assets Trading assets$3,169 $3,736Loans76,333 75,104All other assets3,437 2,765Total assets$82,939 $81,605Liabilities Beneficial interests issued by consolidated VIEs$42,233 $41,879All other liabilities738 809Total liabilities$42,971 $42,688The 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 September 30, 2016, and December 31, 2015, the Firm provided limited program-wide credit enhancements of $2.4 billion and $2.0 billion respectively related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 15. |