Morgan Stanley (MS) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Entity File Number	1-11758
Entity Registrant Name	MORGAN STANLEY
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1585 Broadway
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
Entity Tax Identification Number	36-3145972
City Area Code	(212)
Local Phone Number	761-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,794,411,954
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000895421
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Common Stock, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MS
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series A, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series A, $0.01 par value
Trading Symbol	MS/PA
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series E, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series E, $0.01 par value
Trading Symbol	MS/PE
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series F, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series F, $0.01 par value
Trading Symbol	MS/PF
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series I, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series I, $0.01 par value
Trading Symbol	MS/PI
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series K, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series K, $0.01 par value
Trading Symbol	MS/PK
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series L, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series L, $0.01 par value
Trading Symbol	MS/PL
Security Exchange Name	NYSE
Non-Cumulative Preferred Stock, Series O, $0.01 par value
Document Information [Line Items]
Title of 12(b) Security	Non-Cumulative Preferred Stock, Series O, $0.01 par value
Trading Symbol	MS/PO
Security Exchange Name	NYSE
Global Medium-Term Notes, Series A, Fixed Rate Step-Up Senior Notes Due 2026
Document Information [Line Items]
Title of 12(b) Security	Global Medium-Term Notes, Series A, Fixed Rate Step-Up Senior Notes Due 2026
Trading Symbol	MS/26C
Security Exchange Name	NYSE

Consolidated Income Statements

Consolidated Income Statements - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Investment banking	$ 3,013	$ 1,826	$ 8,413	$ 5,239
Trading	2,861	3,150	10,416	10,754
Investments	45	346	744	659
Commissions and fees	1,280	1,037	4,214	3,499
Asset management	5,201	3,664	14,572	10,346
Other	290	212	916	221
Total non-interest revenues	12,690	10,235	39,275	30,718
Interest income	2,351	2,056	7,000	7,917
Interest expense	288	570	1,044	3,475
Net interest	2,063	1,486	5,956	4,442
Net revenues	14,753	11,721	45,231	35,160
Provision for credit losses	24	111	(1)	757
Non-interest expenses
Compensation and benefits	5,920	5,086	19,141	15,404
Brokerage, clearing and exchange fees	825	697	2,530	2,153
Information processing and communications	788	616	2,286	1,768
Professional services	734	542	2,104	1,526
Occupancy and equipment	427	373	1,246	1,103
Marketing and business development	146	78	438	273
Other	1,015	731	2,703	2,188
Total non-interest expenses	9,855	8,123	30,448	24,415
Income before provision for income taxes	4,874	3,487	14,784	9,988
Provision for income taxes	1,150	736	3,380	2,221
Net income	3,724	2,751	11,404	7,767
Net income applicable to noncontrolling interests	17	34	66	156
Net income applicable to Morgan Stanley	3,707	2,717	11,338	7,611
Preferred stock dividends	123	120	364	377
Earnings applicable to Morgan Stanley common shareholders	$ 3,584	$ 2,597	$ 10,974	$ 7,234
Earnings per common share
Basic (USD per share)	$ 2.01	$ 1.68	$ 6.11	$ 4.68
Diluted (USD per share)	$ 1.98	$ 1.66	$ 6.02	$ 4.62
Average common shares outstanding
Basic (shares)	1,781	1,542	1,797	1,546
Diluted (shares)	1,812	1,566	1,824	1,565

Consolidated Comprehensive Inco

Consolidated Comprehensive Income Statements - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 3,724	$ 2,751	$ 11,404	$ 7,767
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(78)	110	(256)	(1)
Change in net unrealized gains (losses) on available-for-sale securities	(256)	(62)	(1,039)	1,558
Pension and other	5	5	22	29
Change in net debt valuation adjustment	147	(563)	470	744
Total other comprehensive income (loss)	(182)	(510)	(803)	2,330
Comprehensive income	3,542	2,241	10,601	10,097
Net income applicable to noncontrolling interests	17	34	66	156
Other comprehensive income (loss) applicable to noncontrolling interests	(4)	28	(64)	79
Comprehensive income applicable to Morgan Stanley	$ 3,529	$ 2,179	$ 10,599	$ 9,862

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 123,863	$ 105,654
Trading assets at fair value ($109,494 and $132,578 were pledged to various parties)	315,161	312,738
Investment securities (includes $101,594 and $110,383 at fair value)	183,431	182,154
Securities purchased under agreements to resell (includes $7 and $15 at fair value)	119,721	116,234
Securities borrowed	125,922	112,391
Customer and other receivables	98,353	97,737
Loans:
Held for investment (net of allowance for credit losses of $684 and $835)	160,191	137,784
Held for sale	13,168	12,813
Goodwill	16,832	11,635
Intangible assets (net of accumulated amortization of $3,671 and $3,265)	8,514	4,980
Other assets	25,320	21,742
Total assets	1,190,476	1,115,862
Liabilities
Deposits (includes $2,010 and $3,521 at fair value)	329,041	310,782
Trading liabilities at fair value	169,959	157,631
Securities sold under agreements to repurchase (includes $928 and $1,115 at fair value)	61,987	50,587
Securities loaned	11,133	7,731
Other secured financings (includes $5,614 and $11,701 at fair value)	10,272	15,863
Customer and other payables	240,319	227,437
Other liabilities and accrued expenses	30,884	25,603
Borrowings (includes $75,752 and $73,701 at fair value)	229,762	217,079
Total liabilities	1,083,357	1,012,713
Commitments and contingent liabilities (see Note 14)
Equity
Preferred stock	7,750	9,250
Common stock	20	20
Additional paid-in capital	28,504	25,546
Retained earnings	87,099	78,694
Employee stock trusts	3,770	3,043
Accumulated other comprehensive income (loss)	(2,701)	(1,962)
Common stock held in treasury at cost, $0.01 par value (239,985,131 and 229,269,835 shares)	(14,769)	(9,767)
Common stock issued to employee stock trusts	(3,770)	(3,043)
Total Morgan Stanley shareholders’ equity	105,903	101,781
Noncontrolling interests	1,216	1,368
Total equity	107,119	103,149
Total liabilities and equity	$ 1,190,476	$ 1,115,862

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets
Trading assets pledged to various parties	$ 109,494	$ 132,578
Investment securities - AFS at fair value	101,594	110,383
Fair value of securities purchased under agreement to resell	7	15
Loans held for investment, allowance	684	835
Intangible assets, accumulated amortization	3,671	3,265
Liabilities
Deposits at fair value	2,010	3,521
Fair value of securities sold under agreement to repurchase	928	1,115
Fair value of other secured financings	5,614	11,701
Fair value of borrowings	$ 75,752	$ 73,701
Equity
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	3,500,000,000	3,500,000,000
Common stock issued (shares)	2,038,893,979	2,038,893,979
Common stock outstanding (shares)	1,798,908,848	1,809,624,144
Common stock held in treasury (shares)	239,985,131	229,269,835

Consolidated Statements of Chan

Consolidated Statements of Changes in Total Equity - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings		Retained EarningsCumulative Effect, Period of Adoption, Adjustment	[1]	Employee Stock Trusts	Accumulated Other Comprehensive Income (Loss)	Common Stock Held in Treasury at Cost	Common Stock Issued to Employee Stock Trusts	Noncontrolling Interests
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance at Dec. 31, 2019		$ 8,520	$ 20	$ 23,935	$ 70,589		$ (100)		$ 2,918	$ (2,788)	$ (18,727)	$ (2,918)	$ 1,148
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of Series J preferred stock		0
Share-based award activity				79					74		882	(74)
Net income applicable to Morgan Stanley	$ 7,611				7,611
Preferred stock dividends	(377)				(377)	[2]
Common stock dividends	(1,662)				(1,662)	[2]
Repurchases of common stock and employee tax withholdings											(1,840)
Issuance of common stock for the acquisition of Eaton Vance				0							0
Net income applicable to noncontrolling interests	156												156
Net change in Accumulated other comprehensive income (loss)	2,330									2,251			79
Other net increases (decreases)				1	0								41
Ending balance at Sep. 30, 2020	89,818	8,520	20	24,015	76,061				2,992	(537)	(19,685)	(2,992)	1,424
Beginning balance at Jun. 30, 2020		8,520	20	23,782	74,015				3,018	1	(19,693)	(3,018)	1,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of Series J preferred stock		0
Share-based award activity				232					(26)		38	26
Net income applicable to Morgan Stanley	2,717				2,717
Preferred stock dividends	(120)				(120)	[2]
Common stock dividends	(551)				(551)	[2]
Repurchases of common stock and employee tax withholdings											(30)
Issuance of common stock for the acquisition of Eaton Vance				0							0
Net income applicable to noncontrolling interests	34												34
Net change in Accumulated other comprehensive income (loss)	(510)									(538)			28
Other net increases (decreases)				1	0								(2)
Ending balance at Sep. 30, 2020	89,818	8,520	20	24,015	76,061				2,992	(537)	(19,685)	(2,992)	1,424
Beginning balance at Dec. 31, 2020	103,149	9,250	20	25,546	78,694				3,043	(1,962)	(9,767)	(3,043)	1,368
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of Series J preferred stock		(1,500)
Share-based award activity				765					727		1,094	(727)
Net income applicable to Morgan Stanley	11,338				11,338
Preferred stock dividends	(364)				(364)	[2]
Common stock dividends	(2,562)				(2,562)	[2]
Repurchases of common stock and employee tax withholdings											(9,228)
Issuance of common stock for the acquisition of Eaton Vance				2,185							3,132
Net income applicable to noncontrolling interests	66												66
Net change in Accumulated other comprehensive income (loss)	(803)									(739)			(64)
Other net increases (decreases)				8	(7)								(154)
Ending balance at Sep. 30, 2021	107,119	7,750	20	28,504	87,099				3,770	(2,701)	(14,769)	(3,770)	1,216
Beginning balance at Jun. 30, 2021		7,750	20	28,030	84,791				3,768	(2,523)	(11,198)	(3,768)	1,292
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of Series J preferred stock		0
Share-based award activity				473					2		57	(2)
Net income applicable to Morgan Stanley	3,707				3,707
Preferred stock dividends	(123)				(123)	[2]
Common stock dividends	(1,276)				(1,276)	[2]
Repurchases of common stock and employee tax withholdings											(3,628)
Issuance of common stock for the acquisition of Eaton Vance				0							0
Net income applicable to noncontrolling interests	17												17
Net change in Accumulated other comprehensive income (loss)	(182)									(178)			(4)
Other net increases (decreases)				1	0								(89)
Ending balance at Sep. 30, 2021	$ 107,119	$ 7,750	$ 20	$ 28,504	$ 87,099				$ 3,770	$ (2,701)	$ (14,769)	$ (3,770)	$ 1,216
[1]	See Notes 2 and 18 in the 2020 Form 10-K for further information regarding cumulative adjustments for accounting changes.
[2]	See Note 17 for information regarding dividends per share for each class of stock.

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statements - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 11,404	$ 7,767
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Stock-based compensation expense	1,636	802
Depreciation and amortization	2,979	2,363
Provision for credit losses	(1)	757
Other operating adjustments	(149)	663
Changes in assets and liabilities:
Trading assets, net of Trading liabilities	2,832	18,442
Securities borrowed	(13,531)	5,746
Securities loaned	3,402	(582)
Customer and other receivables and other assets	(2,692)	(17,098)
Customer and other payables and other liabilities	19,829	(5,818)
Securities purchased under agreements to resell	(3,487)	(59)
Securities sold under agreements to repurchase	11,400	(12,824)
Net cash provided by (used for) operating activities	33,622	159
Proceeds from (payments for):
Other assets—Premises, equipment and software, net	(1,658)	(905)
Changes in loans, net	(23,197)	(13,592)
Investment securities:
Purchases	(57,334)	(41,147)
Proceeds from sales	18,325	7,220
Proceeds from paydowns and maturities	32,368	11,240
Cash paid as part of the Eaton Vance acquisition, net of cash acquired	(2,648)	0
Other investing activities	(447)	(254)
Net cash provided by (used for) investing activities	(34,591)	(37,438)
Net proceeds from (payments for):
Other secured financings	(1,125)	229
Deposits	18,347	48,734
Proceeds from issuance of Borrowings	73,591	42,169
Payments for:
Borrowings	(56,699)	(38,151)
Repurchases of common stock and employee tax withholdings	(9,228)	(1,840)
Cash dividends	(2,857)	(2,008)
Other financing activities	(197)	(208)
Net cash provided by (used for) financing activities	21,832	48,925
Effect of exchange rate changes on cash and cash equivalents	(2,654)	955
Net increase (decrease) in cash and cash equivalents	18,209	12,601
Cash and cash equivalents, at beginning of period	105,654	82,171
Cash and cash equivalents, at end of period	123,863	94,772
Supplemental Disclosure of Cash Flow Information
Cash payments for interest	1,236	3,747
Cash payments for income taxes, net of refunds	$ 3,303	$ 1,675

Introduction and Basis of Prese

Introduction and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Introduction and Basis of Presentation	Introduction and Basis of Presentation The Firm Morgan Stanley is a global financial services firm that maintains significant market positions in each of its business segments—Institutional Securities, Wealth Management and Investment Management. Morgan Stanley, through its subsidiaries and affiliates, provides a wide variety of products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions and individuals. Unless the context otherwise requires, the terms “Morgan Stanley” or the “Firm” mean Morgan Stanley (the “Parent Company”) together with its consolidated subsidiaries. See the “Glossary of Common Terms and Acronyms” for the definition of certain terms and acronyms used throughout this Form 10-Q. A description of the clients and principal products and services of each of the Firm’s business segments is as follows: Institutional Securities provides a variety of products and services to corporations, governments, financial institutions and ultra-high net worth clients. Investment banking services consist of capital raising and financial advisory services, including services relating to the underwriting of debt, equity and other securities, as well as advice on mergers and acquisitions, restructurings and project finance. Our Equity and Fixed Income businesses include sales, financing, prime brokerage, market-making, Asia wealth management services and certain business-related investments. Lending activities include originating corporate loans and commercial real estate loans, providing secured lending facilities, and extending securities-based and other financing to customers. Other activities include research. Wealth Management provides a comprehensive array of financial services and solutions to individual investors and small to medium-sized businesses and institutions covering: financial advisor-led brokerage and investment advisory services; self-directed brokerage services; financial and wealth planning services; workplace services including stock plan administration; annuity and insurance products; securities-based lending, residential real estate loans and other lending products; banking; and retirement plan services. Investment Management provides a broad range of investment strategies and products that span geographies, asset classes, and public and private markets to a diverse group of clients across institutional and intermediary channels. Strategies and products, which are offered through a variety of investment vehicles, include equity, fixed income, alternatives and solutions, and liquidity and overlay services. Institutional clients include defined benefit/defined contribution plans, foundations, endowments, government entities, sovereign wealth funds, insurance companies, third-party fund sponsors and corporations. Individual clients are generally served through intermediaries, including affiliated and non-affiliated distributors. Basis of Financial Information The financial statements are prepared in accordance with U.S. GAAP, which requires the Firm to make estimates and assumptions regarding the valuations of certain financial instruments, the valuations of goodwill and intangible assets, the outcome of legal and tax matters, deferred tax assets, ACL, and other matters that affect its financial statements and related disclosures. The Firm believes that the estimates utilized in the preparation of its financial statements are prudent and reasonable. Actual results could differ materially from these estimates. The financial statements reflect the effects of the following reclassifications to prior period amounts. The Provision for credit losses for loans and lending commitments is presented as a separate line in the income statements. Previously, the provision for credit losses for loans was included in Other revenues, and the provision for credit losses for lending commitments was included in Other expenses. In addition, economic hedges of certain held-for-sale and held-for-investment loans, which were previously reported in Trading revenues, are reported in Other revenues. The Notes are an integral part of the Firm’s financial statements. The Firm has evaluated subsequent events for adjustment to or disclosure in these financial statements through the date of this report and has not identified any recordable or disclosable events not otherwise reported in these financial statements or the notes thereto. The accompanying financial statements should be read in conjunction with the Firm’s financial statements and notes thereto included in the 2020 Form 10-K. Certain footnote disclosures included in the 2020 Form 10-K have been condensed or omitted from these financial statements as they are not required for interim reporting under U.S. GAAP. The financial statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for the fair presentation of the results for the interim period. The results of operations for interim periods are not necessarily indicative of results for the entire year. Consolidation The financial statements include the accounts of the Firm, its wholly owned subsidiaries and other entities in which the Firm has a controlling financial interest, including certain VIEs (see Note 15). Intercompany balances and transactions have been eliminated. For consolidated subsidiaries that are not wholly owned, the third-party holdings of equity interests are referred to as Noncontrolling interests. The net income attributable to Noncontrolling interests for such subsidiaries is presented as Net income applicable to noncontrolling interests in the income statements. The portion of shareholders’ equity that is attributable to noncontrolling interests for such subsidiaries is presented as noncontrolling interests, a component of Total equity, in the balance sheets. For a discussion of the Firm’s significant regulated U.S. and international subsidiaries and its involvement with VIEs, see Note 1 to the financial statements in the 2020 Form 10-K.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies For a detailed discussion about the Firm’s significant accounting policies and for further information on accounting updates adopted in the prior year, see Note 2 to the financial statements in the 2020 Form 10-K. During the nine months ended September 30, 2021 (“current year period”), there were no significant updates to the Firm’s significant accounting policies, other than as described below and in Note 1 to the financial statements. The Firm’s acquisition of Eaton Vance Corp. (“Eaton Vance”) on March 1, 2021 added indefinite lived intangible assets to the Firm’s balance sheet. Indefinite lived intangible assets are not amortized but are tested for impairment on an annual basis and on an interim basis when certain events or circumstances exist. For both the annual and interim tests, the Firm has the option to either (i) perform a quantitative impairment test or (ii) first perform a qualitative assessment to determine whether it is more likely than not that the asset is impaired, in which case the quantitative test would be performed. Goodwill The Firm completed its annual goodwill impairment testing as of July 1, 2021. The Firm’s impairment testing did not indicate any goodwill impairment, as each of the Firm’s reporting units with goodwill had a fair value that was in excess of its carrying value.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions Acquisition of Eaton Vance On March 1, 2021, the Firm completed the acquisition of 100% of Eaton Vance in a stock and cash transaction, which increases the scale and breadth of the Investment Management business segment. Total consideration for the transaction was approximately $8.7 billion, which consists of the $5.3 billion fair value of 69 million common shares issued from Common stock held in treasury and cash of approximately $3.4 billion. Upon acquisition, the assets and liabilities of Eaton Vance were adjusted to their respective fair values as of the closing date of the transaction, including the identifiable intangible assets acquired. In addition, the excess of the purchase price over the fair value of the net assets acquired has been recorded as goodwill. The fair value estimates used in valuing certain acquired assets and liabilities are based, in part, on inputs that are unobservable. For intangible assets, these include, but are not limited to, forecasted future cash flows, revenue growth rates, attrition rates and discount rates. Eaton Vance Purchase Price Allocation $ in millions At Assets Cash and cash equivalents $ 691 Trading assets at fair value: Loans and lending commitments 445 Investments 299 Corporate and other debt 52 Customer and other receivables 331 Goodwill 5,270 Intangible assets 3,956 Other assets 836 Total assets $ 11,880 Liabilities Other secured financings $ 399 Other liabilities and accrued expenses 2,147 Borrowings 678 Total liabilities $ 3,224 Acquired Intangible Assets $ in millions Weighted At Non-amortizable Management contracts indefinite $ 2,120 Amortizable Customer relationships 16 1,455 Tradenames 23 221 Management contracts 16 160 Total acquired Intangible assets $ 3,956 Eaton Vance Results Included in the Firm’s Consolidated Results $ in millions Three Months Ended Nine Months Ended September 30, 2021 1 Net revenues $ 549 $ 1,258 Net income 137 287 1. Reflects Eaton Vance results from March 1, 2021 through September 30, 2021. Morgan Stanley and Eaton Vance Proforma Combined Financial Information Three Months Ended Nine Months Ended $ in millions 2021 1 2020 2021 2020 Net revenues $ 14,753 $ 12,072 $ 45,527 $ 36,313 Net income 3,724 2,729 11,504 7,420 1. Amounts are the same as those presented in the Consolidated Income Statement for the current quarter. The proforma financial information presented in the previous table was computed by combining the historical financial information of the Firm and Eaton Vance along with the effects of the acquisition method of accounting for business combinations as though the companies were combined on January 1, 2020. The proforma information does not reflect the potential benefits of cost and funding synergies, opportunities to earn additional revenues, or other factors, and therefore does not represent what the actual Net revenues and Net income would have been had the companies actually been combined as of this date.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of Cash and due from banks and Interest bearing deposits with banks. Cash equivalents are highly liquid investments with remaining maturities of three months or less from the acquisition date that are readily convertible to cash and are not held for trading purposes. $ in millions At At Cash and due from banks $ 10,216 $ 9,792 Interest bearing deposits with banks 113,647 95,862 Total Cash and cash equivalents $ 123,863 $ 105,654 Restricted cash $ 43,829 $ 38,202

Fair Values

Fair Values	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Values	Fair Values Recurring Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis At September 30, 2021 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Assets at fair value Trading assets: U.S. Treasury and agency securities $ 44,238 $ 26,312 $ 4 $ — $ 70,554 Other sovereign government obligations 32,668 5,246 127 — 38,041 State and municipal securities — 1,960 — — 1,960 MABS — 1,249 366 — 1,615 Loans and lending commitments 2 — 10,611 4,304 — 14,915 Corporate and other debt — 31,242 1,563 — 32,805 Corporate equities 3 100,903 1,126 214 — 102,243 Derivative and other contracts: Interest rate 3,382 158,164 1,311 — 162,857 Credit — 9,063 510 — 9,573 Foreign exchange 32 73,464 147 — 73,643 Equity 1,211 69,495 464 — 71,170 Commodity and other 12,547 27,294 2,882 — 42,723 Netting 1 (15,382) (248,815) (869) (51,501) (316,567) Total derivative and other contracts 1,790 88,665 4,445 (51,501) 43,399 Investments 4 795 648 781 — 2,224 Physical commodities — 3,049 — — 3,049 Total trading assets 4 180,394 170,108 11,804 (51,501) 310,805 Investment securities—AFS 55,839 45,755 — — 101,594 Securities purchased under agreements to resell — 7 — — 7 Total assets at fair value $ 236,233 $ 215,870 $ 11,804 $ (51,501) $ 412,406 At September 30, 2021 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Liabilities at fair value Deposits $ — $ 1,948 $ 62 $ — $ 2,010 Trading liabilities: U.S. Treasury and agency securities 19,623 1,142 — — 20,765 Other sovereign government obligations 23,194 1,814 3 — 25,011 Corporate and other debt — 10,565 5 — 10,570 Corporate equities 3 74,549 314 34 — 74,897 Derivative and other contracts: Interest rate 3,251 148,188 515 — 151,954 Credit — 9,671 544 — 10,215 Foreign exchange 35 69,491 50 — 69,576 Equity 1,477 80,045 1,464 — 82,986 Commodity and other 12,445 23,170 1,573 — 37,188 Netting 1 (15,382) (248,815) (869) (48,137) (313,203) Total derivative and other contracts 1,826 81,750 3,277 (48,137) 38,716 Total trading liabilities 119,192 95,585 3,319 (48,137) 169,959 Securities sold under agreements to repurchase — 480 448 — 928 Other secured financings — 5,219 395 — 5,614 Borrowings — 73,696 2,056 — 75,752 Total liabilities at fair value $ 119,192 $ 176,928 $ 6,280 $ (48,137) $ 254,263 At December 31, 2020 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Assets at fair value Trading assets: U.S. Treasury and agency securities $ 43,084 $ 31,524 $ 9 $ — $ 74,617 Other sovereign government obligations 26,174 5,048 268 — 31,490 State and municipal securities — 1,135 — — 1,135 MABS — 1,070 322 — 1,392 Loans and lending commitments 2 — 5,389 5,759 — 11,148 Corporate and other debt — 30,093 3,435 — 33,528 Corporate equities 3 111,575 1,142 86 — 112,803 Derivative and other contracts: Interest rate 4,458 227,818 1,210 — 233,486 Credit — 6,840 701 — 7,541 Foreign exchange 29 93,770 260 — 94,059 Equity 1,132 65,943 1,369 — 68,444 Commodity and other 1,818 10,108 2,723 — 14,649 Netting 1 (5,488) (310,534) (1,351) (62,956) (380,329) Total derivative and other contracts 1,949 93,945 4,912 (62,956) 37,850 Investments 4 624 234 828 — 1,686 Physical commodities — 3,260 — — 3,260 Total trading assets 4 183,406 172,840 15,619 (62,956) 308,909 Investment securities—AFS 46,354 61,225 2,804 — 110,383 Securities purchased under agreements to resell — 12 3 — 15 Total assets at fair value $ 229,760 $ 234,077 $ 18,426 $ (62,956) $ 419,307 At December 31, 2020 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Liabilities at fair value Deposits $ — $ 3,395 $ 126 $ — $ 3,521 Trading liabilities: U.S. Treasury and agency securities 10,204 1 — — 10,205 Other sovereign government obligations 24,209 1,738 16 — 25,963 Corporate and other debt — 8,468 — — 8,468 Corporate equities 3 67,822 172 63 — 68,057 Derivative and other contracts: Interest rate 4,789 213,321 528 — 218,638 Credit — 7,500 652 — 8,152 Foreign exchange 11 94,698 199 — 94,908 Equity 1,245 81,683 3,600 — 86,528 Commodity and other 1,758 9,418 1,014 — 12,190 Netting 1 (5,488) (310,534) (1,351) (58,105) (375,478) Total derivative and other contracts 2,315 96,086 4,642 (58,105) 44,938 Total trading liabilities 104,550 106,465 4,721 (58,105) 157,631 Securities sold under agreements to repurchase — 671 444 — 1,115 Other secured financings — 11,185 516 — 11,701 Borrowings — 69,327 4,374 — 73,701 Total liabilities at fair value $ 104,550 $ 191,043 $ 10,181 $ (58,105) $ 247,669 MABS—Mortgage- and asset-backed securities 1. For positions with the same counterparty that cross over the levels of the fair value hierarchy, both counterparty netting and cash collateral netting are included in the column titled “Netting.” Positions classified within the same level that are with the same counterparty are netted within that level. For further information on derivative instruments and hedging activities, see Note 7. 2. For a further breakdown by type, see the following Detail of Loans and Lending Commitments at Fair Value table. 3. For trading purposes, the Firm holds or sells short equity securities issued by entities in diverse industries and of varying sizes. 4. Amounts exclude certain investments that are measured based on NAV per share, which are not classified in the fair value hierarchy. For additional disclosure about such investments, see “Net Asset Value Measurements” herein. Detail of Loans and Lending Commitments at Fair Value $ in millions At At Corporate $ 13 $ 13 Secured lending facilities 350 648 Commercial Real Estate 2,418 916 Residential Real Estate 3,118 2,145 Securities-based lending and Other loans 9,016 7,426 Total $ 14,915 $ 11,148 Unsettled Fair Value of Futures Contracts 1 $ in millions At At Customer and other receivables (payables), net $ (26) $ 434 1. These contracts are primarily Level 1, actively traded, valued based on quoted prices from the exchange and are excluded from the previous recurring fair value tables. For a description of the valuation techniques applied to the Firm’s major categories of assets and liabilities measured at fair value on a recurring basis, see Note 5 to the financial statements in the 2020 Form 10-K. During the current quarter, there were no significant revisions made to the Firm’s valuation techniques. Rollforward of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 U.S. Treasury and agency securities Beginning balance $ 25 $ 97 $ 9 $ 22 Realized and unrealized gains (losses) (1) (1) — — Purchases 4 109 28 133 Sales (24) (36) (33) (42) Net transfers — (47) — 9 Ending balance $ 4 $ 122 $ 4 $ 122 Unrealized gains (losses) $ (1) $ (1) $ — $ — Other sovereign government obligations Beginning balance $ 78 $ 11 $ 268 $ 5 Realized and unrealized gains (losses) (3) (1) (1) — Purchases 59 1 129 8 Sales (4) (1) (269) (3) Net transfers (3) — — — Ending balance $ 127 $ 10 $ 127 $ 10 Unrealized gains (losses) $ (3) $ — $ — $ — State and municipal securities Beginning balance $ 4 $ — $ — $ 1 Purchases — — 4 — Sales (4) — (4) — Net transfers — — — (1) Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — MABS Beginning balance $ 357 $ 379 $ 322 $ 438 Realized and unrealized gains (losses) 11 13 67 (60) Purchases 96 13 263 172 Sales (23) (54) (216) (162) Net transfers (75) 92 (70) 55 Ending balance $ 366 $ 443 $ 366 $ 443 Unrealized gains (losses) $ 11 $ 8 $ 8 $ (35) Loans and lending commitments Beginning balance $ 4,896 $ 4,068 $ 5,759 $ 5,073 Realized and unrealized gains (losses) 47 20 33 (161) Purchases and originations 1,373 846 2,467 1,926 Sales (768) (725) (2,314) (1,139) Settlements (414) (285) (1,082) (1,907) Net transfers 1 (830) 427 (559) 559 Ending balance $ 4,304 $ 4,351 $ 4,304 $ 4,351 Unrealized gains (losses) $ 21 $ 27 $ (5) $ (137) Corporate and other debt Beginning balance $ 1,801 $ 2,686 $ 3,435 $ 1,396 Realized and unrealized gains (losses) 173 (107) (151) (184) Purchases and originations 639 451 1,505 2,217 Sales (594) (325) (1,698) (425) Settlements — — — (311) Net transfers 2 (456) 22 (1,528) 34 Ending balance $ 1,563 $ 2,727 $ 1,563 $ 2,727 Unrealized gains (losses) $ 173 $ (96) $ 10 $ (186) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Corporate equities Beginning balance $ 150 $ 83 $ 86 $ 97 Realized and unrealized gains (losses) 4 32 (15) — Purchases 83 32 367 42 Sales (7) (27) (193) (27) Net transfers (16) 15 (31) 23 Ending balance $ 214 $ 135 $ 214 $ 135 Unrealized gains (losses) $ 4 $ 39 $ (5) $ 14 Investments Beginning balance $ 978 $ 759 $ 828 $ 858 Realized and unrealized gains (losses) 18 55 58 (6) Purchases 59 7 150 37 Sales (23) (16) (46) (37) Net transfers (251) 16 (209) (31) Ending balance $ 781 $ 821 $ 781 $ 821 Unrealized gains (losses) $ 13 $ 44 $ 39 $ (19) Investment securities —AFS Beginning balance $ — $ — $ 2,804 $ — Realized and unrealized gains (losses) — — (4) — Sales — — (203) — Net transfers 3 — — (2,597) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Securities purchased under agreements to resell Beginning balance $ — $ — $ 3 $ — Net transfers — — (3) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Net derivatives: Interest rate Beginning balance $ 668 $ 760 $ 682 $ 777 Realized and unrealized gains (losses) 70 (147) (223) (95) Purchases 22 36 48 153 Issuances (9) (15) (41) (41) Settlements 18 (31) 101 36 Net transfers 27 33 229 (194) Ending balance $ 796 $ 636 $ 796 $ 636 Unrealized gains (losses) $ 165 $ (139) $ (168) $ (37) Net derivatives: Credit Beginning balance $ (203) $ 131 $ 49 $ 124 Realized and unrealized gains (losses) 59 (16) (2) 11 Purchases 12 17 23 66 Issuances (19) (51) (44) (101) Settlements 102 10 16 61 Net transfers 15 25 (76) (45) Ending balance $ (34) $ 116 $ (34) $ 116 Unrealized gains (losses) $ (26) $ (16) $ — $ 2 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Net derivatives: Foreign exchange Beginning balance $ 33 $ 17 $ 61 $ (31) Realized and unrealized gains (losses) 32 86 41 202 Purchases 12 — 19 3 Issuances (15) (4) (21) (5) Settlements 46 (9) (45) (27) Net transfers (11) 9 42 (43) Ending balance $ 97 $ 99 $ 97 $ 99 Unrealized gains (losses) $ 29 $ 75 $ 73 $ 136 Net derivatives: Equity Beginning balance $ (837) $ (1,884) $ (2,231) $ (1,684) Realized and unrealized gains (losses) (45) 3 366 75 Purchases 24 19 69 192 Issuances (122) (181) (362) (706) Settlements (3) (151) (196) (167) Net transfers 2 (17) 49 1,354 145 Ending balance $ (1,000) $ (2,145) $ (1,000) $ (2,145) Unrealized gains (losses) $ (96) $ 32 $ (57) $ (143) Net derivatives: Commodity and other Beginning balance $ 1,430 $ 2,087 $ 1,709 $ 1,612 Realized and unrealized gains (losses) (167) (29) 43 373 Purchases 44 1 324 26 Issuances (31) (40) (137) (65) Settlements (97) (181) (371) (101) Net transfers 130 (34) (259) (41) Ending balance $ 1,309 $ 1,804 $ 1,309 $ 1,804 Unrealized gains (losses) $ (96) $ (251) $ (243) $ (6) Deposits Beginning balance $ 86 $ 90 $ 126 $ 179 Realized and unrealized losses (gains) (1) 4 1 8 Settlements (4) (2) (12) (13) Net transfers (19) 13 (53) (69) Ending balance $ 62 $ 105 $ 62 $ 105 Unrealized losses (gains) $ (1) $ 4 $ 1 $ 8 Nonderivative trading liabilities Beginning balance $ 59 $ 74 $ 79 $ 37 Realized and unrealized losses (gains) (11) (6) (20) (21) Purchases (16) (7) (88) (23) Sales 11 5 83 23 Settlements — — — 3 Net transfers (1) (6) (12) 41 Ending balance $ 42 $ 60 $ 42 $ 60 Unrealized losses (gains) $ (11) $ (4) $ 1 $ (21) Securities sold under agreements to repurchase Beginning balance $ 449 $ 440 $ 444 $ — Realized and unrealized losses (gains) (1) 8 5 (22) Issuances — — — 470 Net transfers — — (1) — Ending balance $ 448 $ 448 $ 448 $ 448 Unrealized losses (gains) $ (1) $ 8 $ 5 $ (22) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Other secured financings Beginning balance $ 401 $ 300 $ 516 $ 109 Realized and unrealized losses (gains) (17) 11 (14) (1) Issuances 14 3 421 10 Settlements (3) (5) (500) (208) Net transfers — — (28) 399 Ending balance $ 395 $ 309 $ 395 $ 309 Unrealized losses (gains) $ (17) $ 11 $ (13) $ (1) Borrowings Beginning balance $ 1,975 $ 4,135 $ 4,374 $ 4,088 Realized and unrealized losses (gains) (87) (32) (37) (284) Issuances 197 194 411 992 Settlements (67) (70) (347) (346) Net transfers 2 38 (146) (2,345) (369) Ending balance $ 2,056 $ 4,081 $ 2,056 $ 4,081 Unrealized losses (gains) $ (86) $ (33) $ (8) $ (282) Portion of Unrealized losses (gains) recorded in OCI—Change in net DVA (4) 22 (18) (124) 1. Net transfers in the current quarter reflect the transfer of $895 million of equity margin loans from Level 3 to Level 2 as a result of the reduced significance of the margin loan rate input. N et transfers in the prior year periods reflect the largely offsetting impacts of equity margin loan transfers of $857 million into Level 3 in the first quarter of the prior year and $707 million out of Level 3 in the second quarter of the prior year, both driven by changes in the significance level of the margin loan rate input based on changes in liquidity conditions. 2. Net transfers in the current year period reflect the transfer in the second quarter of $2.0 billion of Corporate and Other Debt, $1.0 billion of net Equity derivatives, and $2.2 billion of Borrowings from Level 3 to Level 2 as the unobservable inputs were not significant to the overall fair value measurements. 3. Net transfers in the current year period reflect the transfer in the first quarter of $2.5 billion of AFS securities from Level 3 to Level 2 due to increased trading activity and observability of pricing inputs. Level 3 instruments may be hedged with instruments classified in Level 1 and Level 2. The realized and unrealized gains or losses for assets and liabilities within the Level 3 category presented in the previous tables do not reflect the related realized and unrealized gains or losses on hedging instruments that have been classified by the Firm within the Level 1 and/or Level 2 categories. The unrealized gains (losses) during the period for assets and liabilities within the Level 3 category may include changes in fair value during the period that were attributable to both observable and unobservable inputs. Total realized and unrealized gains (losses) are primarily included in Trading revenues in the income statements. Additionally, in the previous tables, consolidations of VIEs are included in Purchases, and deconsolidations of VIEs are included in Settlements. Significant Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Valuation Techniques and Unobservable Inputs Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Assets at Fair Value on a Recurring Basis Other sovereign government obligations $ 127 $ 268 Comparable pricing: Bond price 96 to 152 points (125 points) 106 points MABS $ 366 $ 322 Comparable pricing: Bond price 0 to 86 points (53 points) 0 to 80 points (50 points) Loans and lending $ 4,304 $ 5,759 Margin loan model: Margin loan rate 1% to 4% (3%) 1% to 5% (3%) Comparable pricing: Loan price 91 to 102 points (99 points) 75 to 102 points (93 points) Corporate and $ 1,563 $ 3,435 Comparable pricing: Bond price 90 to 110 points (99 points) 10 to 133 points (101 points) Discounted cash flow: Recovery rate 40% to 62% (46% / 40%) 40% to 62% (46% / 40%) Option model: Equity volatility 22% to 134% (70%) 18% to 21% (19%) Corporate equities $ 214 $ 86 Comparable pricing: Equity price 100% 100% Investments $ 781 $ 828 Discounted cash flow: WACC 10% to 16% (15%) 8% to 18% (15%) Exit multiple 8 to 17 times (12 times) 7 to 17 times (12 times) Market approach: EBITDA multiple 8 to 29 times (10 times) 8 to 32 times (11 times) Comparable pricing: Equity price 43% to 100% (99%) 45% to 100% (99%) Investment securities —AFS $ — $ 2,804 Comparable pricing: Bond price N/A 97 to 107 points (101 points) Net derivative and other contracts: Interest rate $ 796 $ 682 Option model: IR volatility skew 33% to 99% (60% / 59%) 0% to 349% (62% / 59%) IR curve correlation 65% to 98% (83% / 83%) 54% to 99% (87% / 89%) Bond volatility 5% to 14% (7% / 6%) 6% to 24% (13% / 13%) Inflation volatility 25% to 65% (45% / 43%) 25% to 66% (45% / 43%) IR curve 2% 1% Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Credit $ (34) $ 49 Credit default swap model: Cash-synthetic basis 7 points 7 points Bond price 0 to 83 points (46 points) 0 to 85 points (47 points) Credit spread 14 to 463 bps (74 bps) 20 to 435 bps (74 bps) Funding spread 18 to 95 bps (60 bps) 65 to 118 bps (86 bps) Correlation model: Credit correlation 23% to 39% (26%) 27% to 44% (32%) Foreign exchange 2 $ 97 $ 61 Option model: IR - FX correlation 53% to 57% (55% 55%) 55% to 59% (56% / 56%) IR volatility skew 33% to 99% (60% / 59%) 0% to 349% (62% / 59%) IR curve 7% 6% to 8% (7% / 8%) Foreign exchange volatility skew -4% to -2% (-3% / -3%) -22% to 28% (3% / 1%) Contingency probability 95% 50% to 95% (83% / 93%) Equity 2 $ (1,000) $ (2,231) Option model: Equity volatility 5% to 92% (23%) 16% to 97% (43%) Equity volatility skew -4% to 0% (-1%) -3% to 0% (-1%) Equity correlation 5% to 99% (74%) 24% to 96% (74%) FX correlation -85% to 50% (-33%) -79% to 60% (-16%) IR correlation -13% to 35% (15%) -13% to 47% (21% / 20%) Commodity and other $ 1,309 $ 1,709 Option model: Forward power price $1 to $248 ($39) per MWh $-1 to $157 ($28) per MWh Commodity volatility 8% to 212% (24%) 8% to 183% (19%) Cross-commodity correlation 43% to 100% (94%) 43% to 99% (92%) Liabilities Measured at Fair Value on a Recurring Basis Deposits $ 62 $ 126 Option model: Equity volatility 7% 7% to 22% (8%) Nonderivative trading liabilities $ 34 $ 63 Comparable pricing: Equity price 100% 100% Securities sold under agreements to repurchase $ 448 $ 444 Discounted cash flow: Funding spread 116 to 122 bps (119 bps) 107 to 127 bps (115 bps) Other secured financings $ 395 $ 516 Discounted cash flow: Funding spread N/A 111 bps (111 bps) Comparable pricing: Loan price 30 to 100 points (83 points) 30 to 101 points (56 points) Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Borrowings $ 2,056 $ 4,374 Option model: Equity volatility 7% to 51% (19%) 6% to 66% (23%) Equity volatility skew -1% to 0% (0%) -2% to 0% (0%) Equity correlation 39% to 98% (91%) 37% to 95% (78%) Equity - FX correlation -60% to 10% (-16%) -72% to 13% (-24%) IR FX Correlation -27% to 7% (-5% / -5%) -28% to 6% (-6% / -6%) Discounted cash flow: Recovery rate 40% to 62% (46% / 40%) N/M Nonrecurring Fair Value Measurement Loans $ 1,603 $ 3,134 Corporate loan model: Credit spread 95 to 562 bps (298 bps) 36 to 636 bps (336 bps) Comparable pricing: Loan price 48 to 80 points (63 points) N/M Warehouse model: Credit spread 197 to 450 bps (374 bps) 200 to 413 bps (368 bps) Comparable pricing: Bond Price N/A 88 to 99 bps (94 bps) Points—Percentage of par IR—Interest rate FX—Foreign exchange 1. A single amount is disclosed for range and average when there is no significant difference between the minimum, maximum and average. Amounts represent weighted averages except where simple averages and the median of the inputs are more relevant. 2. Includes derivative contracts with multiple risks ( i.e. , hybrid products). The previous tables provide information on the valuation techniques, significant unobservable inputs, and the ranges and averages for each major category of assets and liabilities measured at fair value on a recurring and nonrecurring basis with a significant Level 3 balance. The level of aggregation and breadth of products cause the range of inputs to be wide and not evenly distributed across the inventory of financial instruments. Further, the range of unobservable inputs may differ across firms in the financial services industry because of diversity in the types of products included in each firm’s inventory. Generally, there are no predictable relationships between multiple significant unobservable inputs attributable to a given valuation technique. For a description of the Firm’s significant unobservable inputs and qualitative information about the effect of hypothetical changes in the values of those inputs, see Note 5 to the financial statements in the 2020 Form 10-K. During the current quarter, there were no significant revisions made to the descriptions of the Firm’s significant unobservable inputs. Net Asset Value Measurements Fund Interests At September 30, 2021 At December 31, 2020 $ in millions Carrying Value Commitment Carrying Value Commitment Private equity $ 2,430 $ 640 $ 2,367 $ 644 Real estate 1,747 255 1,403 136 Hedge 1 179 3 59 — Total $ 4,356 $ 898 $ 3,829 $ 780 1. Investments in hedge funds may be subject to initial period lock-up or gate provisions, which restrict an investor from withdrawing from the fund during a certain initial period or restrict the redemption amount on any redemption date, respectively. Amounts in the previous table represent the Firm’s carrying value of general and limited partnership interests in fund investments, as well as any related performance-based income in the form of carried interest. The carrying amounts are measured based on the NAV of the fund taking into account the distribution terms applicable to the interest held. This same measurement applies whether the fund investments are accounted for under the equity method or fair value. For a description of the Firm’s investments in private equity funds, real estate funds and hedge funds, which are measured based on NAV, see Note 5 to the financial statements in the 2020 Form 10-K. See Note 14 for information regarding general partner guarantees, which include potential obligations to return performance fee distributions previously received. See Note 20 for information regarding unrealized carried interest at risk of reversal. Nonredeemable Funds by Contractual Maturity Carrying Value at September 30, 2021 $ in millions Private Equity Real Estate Less than 5 years $ 1,094 $ 408 5-10 years 1,094 678 Over 10 years 242 661 Total $ 2,430 $ 1,747 Nonrecurring Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At September 30, 2021 Fair Value $ in millions Level 2 Level 3 1 Total Assets Loans $ 3,310 $ 1,603 $ 4,913 Other assets—Other investments — 76 76 Total $ 3,310 $ 1,679 $ 4,989 Liabilities Other liabilities and accrued expenses—Lending commitments $ 156 $ 67 $ 223 Total $ 156 $ 67 $ 223 At December 31, 2020 Fair Value $ in millions Level 2 Level 3 1 Total Assets Loans $ 2,566 $ 3,134 $ 5,700 Other assets—Other investments — 16 16 Other assets—ROU assets 21 — 21 Total $ 2,587 $ 3,150 $ 5,737 Liabilities Other liabilities and accrued expenses—Lending commitments $ 193 $ 72 $ 265 Total $ 193 $ 72 $ 265 1. For significant Level 3 balances, refer to “Significant Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements” section herein for details of the significant unobservable inputs used for nonrecurring fair value measurement. Gains (Losses) from Nonrecurring Fair Value Remeasurements 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Assets Loans 2 $ (22) $ (43) $ (75) $ (467) Goodwill — — (8) — Intangibles — (1) (3) (1) Other assets— Other investments 3 (2) (2) (55) (54) Other assets—Premises, equipment and software 4 (10) (29) (14) (35) Total $ (34) $ (75) $ (155) $ (557) Liabilities Other liabilities and accrued expenses—Lending commitments 2 $ (2) $ 25 $ 34 $ (54) Total $ (2) $ 25 $ 34 $ (54) 1. Gains and losses for Loans and Other assets—Other investments are classified in Other revenues. For other items, gains and losses are recorded in Other revenues if the item is held for sale; otherwise, they are recorded in Other expenses. 2. Nonrecurring changes in the fair value of loans and lending commitments were calculated as follows: for the held-for-investment category, based on the value of the underlying collateral; and for the held-for-sale category, based on recently executed transactions, market price quotations, valuation models that incorporate market observable inputs where possible, such as comparable loan or debt prices and CDS spread levels adjusted for any basis difference between cash and derivative instruments, or default recovery analysis where such transactions and quotations are unobservable. 3. Losses related to Other assets—Other investments were determined using techniques that included discounted cash flow models, methodologies that incorporate multiples of certain comparable companies and recently executed transactions. 4. Losses related to Other assets—Premises, equipment and software generally include impairments as well as write-offs related to the disposal of certain assets. Financial Instruments Not Measured at Fair Value At September 30, 2021 Carrying Fair Value $ in millions Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 123,863 $ 123,863 $ — $ — $ 123,863 Investment securities—HTM 81,837 30,726 50,380 982 82,088 Securities purchased under agreements to resell 119,714 — 117,863 1,868 119,731 Securities borrowed 125,922 — 125,923 — 125,923 Customer and other receivables 95,022 — 91,571 3,349 94,920 Loans 1 173,359 — 23,242 151,341 174,583 Other assets 528 — 528 — 528 Financial liabilities Deposits $ 327,031 $ — $ 327,384 $ — $ 327,384 Securities sold under agreements to repurchase 61,059 — 61,100 — 61,100 Securities loaned 11,133 — 11,131 — 11,131 Other secured financings 4,658 — 4,659 — 4,659 Customer and other payables 240,293 — 240,293 — 240,293 Borrowings 154,010 — 160,131 4 160,135 Commitment Lending commitments 2 $ 136,040 $ — $ 682 $ 423 $ 1,105 At December 31, 2020 Carrying Fair Value $ in millions Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 105,654 $ 105,654 $ — $ — $ 105,654 Investment securities—HTM 71,771 31,239 42,281 900 74,420 Securities purchased under agreements to resell 116,219 — 114,046 2,173 116,219 Securities borrowed 112,391 — 112,392 — 112,392 Customer and other receivables 92,907 — 89,832 3,041 92,873 Loans 1 150,597 — 16,635 135,277 151,912 Other assets 485 — 485 — 485 Financial liabilities Deposits $ 307,261 $ — $ 307,807 $ — $ 307,807 Securities sold under agreements to repurchase 49,472 — 49,315 195 49,510 Securities loaned 7,731 — 7,731 — 7,731 Other secured financings 4,162 — 4,162 — 4,162 Customer and other payables 224,951 — 224,951 — 224,951 Borrowings 143,378 — 150,824 5 150,829 Commitment Lending commitments 2 $ 125,498 $ — $ 709 $ 395 $ 1,104 1. Amounts include loans measured at fair value on a nonrecurring basis. 2. Represents Lending commitments accounted for as Held for Investment and Held for Sale. For a further discussion on lending commitments, see Note 14.

Fair Value Option

Fair Value Option	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Option	Fair Value Option The Firm has elected the fair value option for certain eligible instruments that are risk managed on a fair value basis to mitigate income statement volatility caused by measurement basis differences between the elected instruments and their associated risk management transactions or to eliminate complexities of applying certain accounting models. Borrowings Measured at Fair Value on a Recurring Basis $ in millions At At Business Unit Responsible for Risk Management Equity $ 35,708 $ 33,952 Interest rates 29,213 31,222 Commodities 7,968 5,078 Credit 1,274 1,344 Foreign exchange 1,589 2,105 Total $ 75,752 $ 73,701 Net Revenues from Borrowings under the Fair Value Option Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Trading revenues $ 1,383 $ (1,455) $ 937 $ (1,447) Interest expense 77 77 234 241 Net revenues 1 $ 1,306 $ (1,532) $ 703 $ (1,688) 1. Amounts do not reflect any gains or losses from related economic hedges. Gains (losses) from changes in fair value are recorded in Trading revenues and are mainly attributable to movements in the reference price or index, interest rates or foreign exchange rates. Gains (Losses) Due to Changes in Instrument-Specific Credit Risk Three Months Ended September 30, 2021 2020 $ in millions Trading OCI Trading OCI Loans and other debt 1 $ 58 $ — $ 56 $ — Lending commitments (3) — (3) — Deposits — 6 — (19) Borrowings (9) 190 (8) (720) Nine Months Ended September 30, 2021 2020 $ in millions Trading OCI Trading OCI Loans and other debt 1 $ 311 $ — $ (183) $ — Lending commitments (2) — (2) — Deposits — 15 — (10) Borrowings (36) 612 (14) 991 $ in millions At At Cumulative pre-tax DVA gain (loss) recognized in AOCI $ (2,730) $ (3,357) 1. Loans and other debt instrument-specific credit gains (losses) were determined by excluding the non-credit components of gains and losses. Difference Between Contractual Principal and Fair Value 1 $ in millions At At Loans and other debt 2 $ 13,053 $ 14,042 Nonaccrual loans 2 10,732 11,551 Borrowings 3 (2,382) (3,773) 1. Amounts indicate contractual principal greater than or (less than) fair value. 2. The majority of the difference between principal and fair value amounts for loans and other debt relates to distressed debt positions purchased at amounts well below par. 3. Excludes borrowings where the repayment of the initial principal amount fluctuates based on changes in a reference price or index. The previous tables exclude non-recourse debt from consolidated VIEs, liabilities related to transfers of financial assets treated as collateralized financings, pledged commodities and other liabilities that have specified assets attributable to them. Fair Value Loans on Nonaccrual Status $ in millions At At Nonaccrual loans $ 943 $ 1,407 Nonaccrual loans 90 or more days past due 321 239

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Fair Values of Derivative Contracts Assets at September 30, 2021 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 578 $ 9 $ — $ 587 Foreign exchange 145 15 — 160 Total 723 24 — 747 Not designated as accounting hedges Economic loan hedges Credit 1 16 — 17 Other derivatives Interest rate 154,421 7,628 221 162,270 Credit 5,624 3,932 — 9,556 Foreign exchange 72,129 1,301 53 73,483 Equity 29,159 — 42,011 71,170 Commodity and other 28,545 — 14,178 42,723 Total 289,879 12,877 56,463 359,219 Total gross derivatives $ 290,602 $ 12,901 $ 56,463 $ 359,966 Amounts offset Counterparty netting (205,701) (11,014) (52,930) (269,645) Cash collateral netting (45,163) (1,759) — (46,922) Total in Trading assets $ 39,738 $ 128 $ 3,533 $ 43,399 Amounts not offset 1 Financial instruments collateral (12,419) — — (12,419) Net amounts $ 27,319 $ 128 $ 3,533 $ 30,980 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 4,385 Liabilities at September 30, 2021 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ — $ — $ — Foreign exchange 7 20 — 27 Total 7 20 — 27 Not designated as accounting hedges Economic loan hedges Credit 15 229 — 244 Other derivatives Interest rate 144,921 6,683 350 151,954 Credit 5,508 4,463 — 9,971 Foreign exchange 68,163 1,334 52 69,549 Equity 39,690 — 43,296 82,986 Commodity and other 22,708 — 14,480 37,188 Total 281,005 12,709 58,178 351,892 Total gross derivatives $ 281,012 $ 12,729 $ 58,178 $ 351,919 Amounts offset Counterparty netting (205,701) (11,014) (52,930) (269,645) Cash collateral netting (42,471) (1,087) — (43,558) Total in Trading liabilities $ 32,840 $ 628 $ 5,248 $ 38,716 Amounts not offset 1 Financial instruments collateral (6,226) — (1,007) (7,233) Net amounts $ 26,614 $ 628 $ 4,241 $ 31,483 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable 7,103 Assets at December 31, 2020 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 946 $ 2 $ — $ 948 Foreign exchange 5 2 — 7 Total 951 4 — 955 Not designated as accounting hedges Economic loan hedges Credit 2 2 51 — 53 Other derivatives Interest rate 221,895 10,343 300 232,538 Credit 2 5,341 2,147 — 7,488 Foreign exchange 92,334 1,639 79 94,052 Equity 34,278 — 34,166 68,444 Commodity and other 11,095 — 3,554 14,649 Total 364,945 14,180 38,099 417,224 Total gross derivatives $ 365,896 $ 14,184 $ 38,099 $ 418,179 Amounts offset Counterparty netting (276,682) (11,601) (35,260) (323,543) Cash collateral netting (54,921) (1,865) — (56,786) Total in Trading assets $ 34,293 $ 718 $ 2,839 $ 37,850 Amounts not offset 1 Financial instruments collateral (13,319) — — (13,319) Other cash collateral (391) — — (391) Net amounts $ 20,583 $ 718 $ 2,839 $ 24,140 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 3,743 Liabilities at December 31, 2020 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 19 $ — $ 19 Foreign exchange 291 99 — 390 Total 291 118 — 409 Not designated as accounting hedges Economic loan hedges Credit 2 18 177 — 195 Other derivatives Interest rate 210,015 7,965 639 218,619 Credit 2 5,275 2,682 — 7,957 Foreign exchange 92,975 1,500 43 94,518 Equity 49,943 — 36,585 86,528 Commodity and other 8,831 — 3,359 12,190 Total 367,057 12,324 40,626 420,007 Total gross derivatives $ 367,348 $ 12,442 $ 40,626 $ 420,416 Amounts offset Counterparty netting (276,682) (11,601) (35,260) (323,543) Cash collateral netting (51,112) (823) — (51,935) Total in Trading liabilities $ 39,554 $ 18 $ 5,366 $ 44,938 Amounts not offset 1 Financial instruments collateral (10,598) — (1,520) (12,118) Other cash collateral (62) (3) — (65) Net amounts $ 28,894 $ 15 $ 3,846 $ 32,755 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 6,746 1. Amounts relate to master netting agreements and collateral agreements that have been determined by the Firm to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetting accounting guidance. 2. Certain prior period amounts have been reclassified to conform to the current presentation. See Note 5 for information related to the unsettled fair value of futures contracts not designated as accounting hedges, which are excluded from the previous tables. Notionals of Derivative Contracts Assets at September 30, 2021 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 4 $ 103 $ — $ 107 Foreign exchange 12 1 — 13 Total 16 104 — 120 Not designated as accounting hedges Economic loan hedges Credit — — — — Other derivatives Interest rate 3,836 7,950 558 12,344 Credit 213 130 — 343 Foreign exchange 3,363 89 9 3,461 Equity 522 — 459 981 Commodity and other 142 — 83 225 Total 8,076 8,169 1,109 17,354 Total gross derivatives $ 8,092 $ 8,273 $ 1,109 $ 17,474 Liabilities at September 30, 2021 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 99 $ — $ 99 Foreign exchange 3 2 — 5 Total 3 101 — 104 Not designated as accounting hedges Economic loan hedges Credit — 7 — 7 Other derivatives Interest rate 3,924 7,979 505 12,408 Credit 204 140 — 344 Foreign exchange 3,230 87 20 3,337 Equity 538 — 766 1,304 Commodity and other 119 — 87 206 Total 8,015 8,213 1,378 17,606 Total gross derivatives $ 8,018 $ 8,314 $ 1,378 $ 17,710 Assets at December 31, 2020 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 6 $ 123 $ — $ 129 Foreign exchange 2 — — 2 Total 8 123 — 131 Not designated as accounting hedges Economic loan hedges Credit 1 — 1 — 1 Other derivatives Interest rate 3,847 6,946 409 11,202 Credit 1 140 87 — 227 Foreign exchange 3,046 103 10 3,159 Equity 444 — 367 811 Commodity and other 107 — 68 175 Total 7,584 7,137 854 15,575 Total gross derivatives $ 7,592 $ 7,260 $ 854 $ 15,706 Liabilities at December 31, 2020 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 80 $ — $ 80 Foreign exchange 11 3 — 14 Total 11 83 — 94 Not designated as accounting hedges Economic loan hedges Credit 1 1 5 — 6 Other derivatives Interest rate 4,000 6,915 511 11,426 Credit 1 142 93 — 235 Foreign exchange 3,180 102 11 3,293 Equity 474 — 591 1,065 Commodity and other 93 — 68 161 Total 7,890 7,115 1,181 16,186 Total gross derivatives $ 7,901 $ 7,198 $ 1,181 $ 16,280 1. Certain prior period amounts have been reclassified to conform to the current presentation. The notional amounts of derivative contracts generally overstate the Firm’s exposure. In most circumstances, notional amounts are used only as a reference point from which to calculate amounts owed between the parties to the contract. Furthermore, notional amounts do not reflect the benefit of legally enforceable netting arrangements or risk mitigating transactions. For a discussion of the Firm’s derivative instruments and hedging activities, see Note 7 to the financial statements in the 2020 Form 10-K. Gains (Losses) on Accounting Hedges Three Months Ended Nine Months Ended September 30, September 30, $ in millions 2021 2020 2021 2020 Fair value hedges—Recognized in Interest income Interest rate contracts $ 107 $ 12 $ 607 $ (68) Investment Securities—AFS (82) (11) (509) 78 Fair value hedges—Recognized in Interest expense Interest rate contracts $ (763) $ (1,004) $ (3,633) $ 5,908 Deposits 15 62 73 (153) Borrowings 796 915 3,547 (5,844) Net investment hedges—Foreign exchange contracts Recognized in OCI $ 225 $ (260) $ 524 $ 54 Forward points excluded from hedge effectiveness testing—Recognized in Interest income (19) (6) (32) 19 Fair Value Hedges—Hedged Items $ in millions At At Investment Securities—AFS Amortized cost basis currently or previously hedged $ 17,823 $ 16,288 Basis adjustments included in amortized cost 1 $ (459) $ (39) Deposits Carrying amount currently or previously hedged $ 4,672 $ 15,059 Basis adjustments included in carrying amount 1 $ 20 $ 93 Borrowings Carrying amount currently or previously hedged $ 120,111 $ 114,349 Basis adjustments included in carrying amount — Outstanding hedges $ 2,996 $ 6,575 Basis adjustments included in carrying amount — Terminated hedges $ (750) $ (756) 1. Hedge accounting basis adjustments are primarily related to outstanding hedges. Gains (Losses) on Economic Loan Hedges Three Months Ended Nine Months Ended September 30, September 30, $ in millions 2021 2020 2021 2020 Recognized in Other revenues Credit contracts 1 $ (21) $ (58) $ (170) $ 77 1. Amounts related to hedges of certain held-for-investment and held-for-sale loans. Net Derivative Liabilities and Collateral Posted $ in millions At At Net derivative liabilities with credit risk-related contingent features $ 22,199 $ 30,421 Collateral posted 15,433 23,842 The previous table presents the aggregate fair value of certain derivative contracts that contain credit risk-related contingent features that are in a net liability position for which the Firm has posted collateral in the normal course of business. Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade $ in millions At One-notch downgrade $ 264 Two-notch downgrade 434 Bilateral downgrade agreements included in the amounts above 1 $ 587 1. Amount represents arrangements between the Firm and other parties where upon the downgrade of one party, the downgraded party must deliver collateral to the other party. These bilateral downgrade arrangements are used by the Firm to manage the risk of counterparty downgrades. The additional collateral or termination payments that may be called in the event of a future credit rating downgrade vary by contract and can be based on ratings by either or both of Moody’s Investors Service, Inc. and S&P Global Ratings. The previous table shows the future potential collateral amounts and termination payments that could be called or required by counterparties or exchange and clearing organizations in the event of one-notch or two-notch downgrade scenarios based on the relevant contractual downgrade triggers. Maximum Potential Payout/Notional of Credit Protection Sold 1 Years to Maturity at September 30, 2021 $ in billions < 1 1-3 3-5 Over 5 Total Single-name CDS Investment grade $ 9 $ 22 $ 30 $ 14 $ 75 Non-investment grade 5 12 16 5 38 Total $ 14 $ 34 $ 46 $ 19 $ 113 Index and basket CDS Investment grade $ 2 $ 8 $ 84 $ 37 $ 131 Non-investment grade 7 14 37 25 83 Total $ 9 $ 22 $ 121 $ 62 $ 214 Total CDS sold $ 23 $ 56 $ 167 $ 81 $ 327 Other credit contracts — — — — — Total credit protection sold $ 23 $ 56 $ 167 $ 81 $ 327 CDS protection sold with identical protection purchased $ 283 Years to Maturity at December 31, 2020 $ in billions < 1 1-3 3-5 Over 5 Total Single-name CDS Investment grade $ 9 $ 19 $ 32 $ 9 $ 69 Non-investment grade 7 10 17 2 36 Total $ 16 $ 29 $ 49 $ 11 $ 105 Index and basket CDS Investment grade $ 2 $ 5 $ 39 $ 14 $ 60 Non-investment grade 6 9 29 14 58 Total $ 8 $ 14 $ 68 $ 28 $ 118 Total CDS sold $ 24 $ 43 $ 117 $ 39 $ 223 Other credit contracts — — — — — Total credit protection sold $ 24 $ 43 $ 117 $ 39 $ 223 CDS protection sold with identical protection purchased $ 196 Fair Value Asset (Liability) of Credit Protection Sold 1 $ in millions At At Single-name CDS Investment grade $ 1,532 $ 1,230 Non-investment grade (18) (22) Total $ 1,514 $ 1,208 Index and basket CDS Investment grade $ 1,590 $ 843 Non-investment grade (82) (824) Total $ 1,508 $ 19 Total CDS sold $ 3,022 $ 1,227 Other credit contracts (3) (4) Total credit protection sold $ 3,019 $ 1,223 1. Investment grade/non-investment grade determination is based on the internal credit rating of the reference obligation. Internal credit ratings serve as the CRM’s assessment of credit risk and the basis for a comprehensive credit limits framework used to control credit risk. The Firm uses quantitative models and judgment to estimate the various risk parameters related to each obligor. Protection Purchased with CDS Notional $ in billions At At Single name $ 123 $ 116 Index and basket 228 116 Tranched index and basket 16 14 Total $ 367 $ 246 Fair Value Asset (Liability) $ in millions At At Single name $ (1,811) $ (1,452) Index and basket (1,535) (57) Tranched index and basket (318) (329) Total $ (3,664) $ (1,838) The Firm enters into credit derivatives, principally CDS, under which it receives or provides protection against the risk of default on a set of debt obligations issued by a specified reference entity or entities. A majority of the Firm’s counterparties for these derivatives are banks, broker-dealers, and insurance and other financial institutions. The fair value amounts as shown in the previous tables are prior to cash collateral or counterparty netting. For further information on credit derivatives and other credit contracts, see Note 7 to the financial statements in the 2020 Form 10-K.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities AFS and HTM Securities At September 30, 2021 $ in millions Amortized Cost 1 Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities U.S. Treasury securities $ 55,344 $ 555 $ 83 $ 55,816 U.S. agency securities 2 28,383 386 188 28,581 Agency CMBS 14,881 342 65 15,158 State and municipal securities 285 26 6 305 FFELP student loan ABS 3 1,728 15 9 1,734 Total AFS securities 100,621 1,324 351 101,594 HTM securities U.S. Treasury securities 29,684 1,103 61 30,726 U.S. agency securities 2 48,871 267 1,055 48,083 Agency CMBS 2,331 — 34 2,297 Non-agency CMBS 951 34 3 982 Total HTM securities 81,837 1,404 1,153 82,088 Total investment securities $ 182,458 $ 2,728 $ 1,504 $ 183,682 At December 31, 2020 $ in millions Amortized Cost 1 Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities U.S. Treasury securities $ 45,345 $ 1,010 $ — $ 46,355 U.S. agency securities 2 37,389 762 25 38,126 Agency CMBS 19,982 465 9 20,438 Corporate bonds 1,694 42 — 1,736 State and municipal securities 1,461 103 1 1,563 FFELP student loan ABS 3 1,735 7 26 1,716 Other ABS 449 — — 449 Total AFS securities 108,055 2,389 61 110,383 HTM securities U.S. Treasury securities 29,346 1,893 — 31,239 U.S. agency securities 2 38,951 704 8 39,647 Agency CMBS 2,632 4 2 2,634 Non-agency CMBS 842 58 — 900 Total HTM securities 71,771 2,659 10 74,420 Total investment securities $ 179,826 $ 5,048 $ 71 $ 184,803 1. Amounts are net of any ACL. 2. U.S. agency securities consist mainly of agency mortgage pass-through pool securities, CMOs and agency-issued debt. 3. Underlying loans are backed by a guarantee, ultimately from the U.S. Department of Education, of at least 95% of the principal balance and interest outstanding. Investment Securities in an Unrealized Loss Position At At $ in millions Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities Less than 12 months $ 23,587 $ 83 $ 151 $ — Total 23,587 83 151 — U.S. agency securities Less than 12 months 11,116 170 5,808 22 12 months or longer 839 18 1,168 3 Total 11,955 188 6,976 25 Agency CMBS Less than 12 months 2,738 65 2,779 9 12 months or longer 22 — 46 — Total 2,760 65 2,825 9 Corporate bonds 12 months or longer — — 31 — Total — — 31 — State and municipal securities Less than 12 months 102 6 86 — 12 months or longer — — 36 1 Total 102 6 122 1 FFELP student loan ABS Less than 12 months 39 — — — 12 months or longer 759 9 1,077 26 Total 798 9 1,077 26 Total AFS securities in an unrealized loss position Less than 12 months 37,582 324 8,824 31 12 months or longer 1,620 27 2,358 30 Total $ 39,202 $ 351 $ 11,182 $ 61 For AFS securities, the Firm believes there are no securities in an unrealized loss position that have credit losses after performing the analysis described in Note 2 in the 2020 Form 10-K and the Firm expects to recover the amortized cost basis of these securities. Additionally, the Firm does not intend to sell these securities and is not likely to be required to sell these securities prior to recovery of the amortized cost basis. As of September 30, 2021 and December 31, 2020, the securities in an unrealized loss position are predominantly investment grade. The HTM securities net carrying amounts at September 30, 2021 and December 31, 2020 reflect an ACL of $35 million and $26 million, respectively, related to Non-agency CMBS. See Note 2 in the 2020 Form 10-K for a description of the ACL methodology used for HTM Securities. As of September 30, 2021, and December 31, 2020, Non-Agency CMBS HTM securities were predominantly on accrual status and investment grade. See Note 15 for additional information on securities issued by VIEs, including U.S. agency mortgage-backed securities, non-agency CMBS, FFELP student loan ABS and other ABS. Investment Securities by Contractual Maturity At September 30, 2021 $ in millions Amortized 1 Fair Annualized AFS securities U.S. Treasury securities: Due within 1 year $ 11,941 $ 12,031 1.4 % After 1 year through 5 years 34,704 35,070 1.1 % After 5 years through 10 years 8,699 8,715 1.2 % Total 55,344 55,816 U.S. agency securities: Due within 1 year 3 3 1.2 % After 1 year through 5 years 132 134 1.3 % After 5 years through 10 years 1,402 1,438 1.8 % After 10 years 26,846 27,006 1.5 % Total 28,383 28,581 Agency CMBS: Due within 1 year 193 194 1.7 % After 1 year through 5 years 1,926 1,964 1.7 % After 5 years through 10 years 9,974 10,257 1.6 % After 10 years 2,788 2,743 1.4 % Total 14,881 15,158 State and municipal securities: Due within 1 year 4 4 1.9 % After 1 year through 5 years 22 22 1.8 % After 5 years through 10 years 49 58 2.1 % After 10 Years 210 221 2.0 % Total 285 305 FFELP student loan ABS: Due within 1 year 31 31 0.8 % After 1 year through 5 years 183 180 0.9 % After 5 years through 10 years 148 144 0.7 % After 10 years 1,366 1,379 1.2 % Total 1,728 1,734 Total AFS securities 100,621 101,594 1.3 % At September 30, 2021 $ in millions Amortized 1 Fair Annualized HTM securities U.S. Treasury securities: Due within 1 year 4,022 4,058 1.9 % After 1 year through 5 years 18,673 19,217 1.7 % After 5 years through 10 years 5,426 5,811 2.4 % After 10 years 1,563 1,640 2.3 % Total 29,684 30,726 U.S. agency securities: After 5 years through 10 years 497 512 2.0 % After 10 years 48,374 47,571 1.6 % Total 48,871 48,083 Agency CMBS: Due within 1 year 46 46 1.1 % After 1 year through 5 years 1,193 1,181 1.3 % After 5 years through 10 years 939 922 1.4 % After 10 years 153 148 1.5 % Total 2,331 2,297 Non-agency CMBS: Due within 1 year 151 151 4.5 % After 1 year through 5 years 61 62 2.6 % After 5 years through 10 years 703 730 3.6 % After 10 years 36 39 4.4 % Total 951 982 Total HTM securities 81,837 82,088 1.7 % Total investment securities $ 182,458 $ 183,682 1.5 % 1. Amounts are net of any ACL. Gross Realized Gains (Losses) on Sales of AFS Securities Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Gross realized gains $ 17 $ 55 $ 236 $ 120 Gross realized (losses) — — (27) (14) Total 1 $ 17 $ 55 $ 209 $ 106 1. Realized gains and losses are recognized in Other revenues in the income statements.

Collateralized Transactions

Collateralized Transactions	9 Months Ended
	Sep. 30, 2021
Collateralized Agreements [Abstract]
Collateralized Transactions	Collateralized Transactions Offsetting of Certain Collateralized Transactions At September 30, 2021 $ in millions Gross Amounts Amounts Offset Balance Sheet Net Amounts Amounts Not Offset 1 Net Amounts Assets Securities purchased under agreements to resell $ 215,672 $ (95,951) $ 119,721 $ (116,787) $ 2,934 Securities borrowed 136,731 (10,809) 125,922 (119,047) 6,875 Liabilities Securities sold under agreements to repurchase $ 157,938 $ (95,951) $ 61,987 $ (54,226) $ 7,761 Securities loaned 21,942 (10,809) 11,133 (10,822) 311 Net amounts for which master netting agreements are not in place or may not be legally enforceable Securities purchased under agreements to resell $ 2,417 Securities borrowed 2,006 Securities sold under agreements to repurchase 7,167 Securities loaned 173 At December 31, 2020 $ in millions Gross Amounts Amounts Offset Balance Sheet Net Amounts Amounts Not Offset 1 Net Amounts Assets Securities purchased under agreements to resell $ 264,140 $ (147,906) $ 116,234 $ (114,108) $ 2,126 Securities borrowed 124,921 (12,530) 112,391 (107,434) 4,957 Liabilities Securities sold under agreements to repurchase $ 198,493 $ (147,906) $ 50,587 $ (43,960) $ 6,627 Securities loaned 20,261 (12,530) 7,731 (7,430) 301 Net amounts for which master netting agreements are not in place or may not be legally enforceable Securities purchased under agreements to resell $ 1,870 Securities borrowed 596 Securities sold under agreements to repurchase 6,282 Securities loaned 128 1. Amounts relate to master netting agreements that have been determined by the Firm to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetting accounting guidance. For further discussion of the Firm’s collateralized transactions, see Note 2 and Note 9 to the financial statements in the 2020 Form 10-K. For information related to offsetting of derivatives, see Note 7. Gross Secured Financing Balances by Remaining Contractual Maturity At September 30, 2021 $ in millions Overnight and Open Less than 30 Days 30-90 Days Over 90 Days Total Securities sold under agreements to repurchase $ 48,461 $ 53,458 $ 12,529 $ 43,490 $ 157,938 Securities loaned 12,675 — 150 9,117 21,942 Total included in the offsetting disclosure $ 61,136 $ 53,458 $ 12,679 $ 52,607 $ 179,880 Trading liabilities— 22,528 — — — 22,528 Total $ 83,664 $ 53,458 $ 12,679 $ 52,607 $ 202,408 At December 31, 2020 $ in millions Overnight and Open Less than 30 Days 30-90 Days Over 90 Days Total Securities sold under agreements to repurchase $ 84,349 $ 60,853 $ 26,221 $ 27,070 $ 198,493 Securities loaned 15,267 247 — 4,747 20,261 Total included in the offsetting disclosure $ 99,616 $ 61,100 $ 26,221 $ 31,817 $ 218,754 Trading liabilities— 16,389 — — — 16,389 Total $ 116,005 $ 61,100 $ 26,221 $ 31,817 $ 235,143 Gross Secured Financing Balances by Class of Collateral Pledged $ in millions At At Securities sold under agreements to repurchase U.S. Treasury and agency securities $ 40,104 $ 94,662 Other sovereign government obligations 83,996 71,140 Corporate equities 24,508 24,692 Other 9,330 7,999 Total $ 157,938 $ 198,493 Securities loaned Other sovereign government obligations $ 1,359 $ 3,430 Corporate equities 20,195 16,536 Other 388 295 Total $ 21,942 $ 20,261 Total included in the offsetting disclosure $ 179,880 $ 218,754 Trading liabilities—Obligation to return securities received as collateral Corporate equities $ 22,487 $ 16,365 Other 41 24 Total $ 22,528 $ 16,389 Total $ 202,408 $ 235,143 Carrying Value of Assets Loaned or Pledged without Counterparty Right to Sell or Repledge $ in millions At At Trading assets $ 33,926 $ 30,954 The Firm pledges certain of its trading assets to collateralize securities sold under agreements to repurchase, securities loaned, other secured financings and derivatives and to cover customer short sales. Counterparties may or may not have the right to sell or repledge the collateral. Pledged financial instruments that can be sold or repledged by the secured party are identified as Trading assets (pledged to various parties) in the balance sheets. Fair Value of Collateral Received with Right to Sell or Repledge $ in millions At At Collateral received with right to sell or repledge $ 706,446 $ 724,818 Collateral that was sold or repledged 1 535,697 523,648 1. Does not include securities used to meet federal regulations for the Firm’s U.S. broker-dealers. The Firm receives collateral in the form of securities in connection with securities purchased under agreements to resell, securities borrowed, securities-for-securities transactions, derivative transactions, customer margin loans and securities-based lending. In many cases, the Firm is permitted to sell or repledge this collateral to secure securities sold under agreements to repurchase, to enter into securities lending and derivative transactions or for delivery to counterparties to cover short positions. Securities Segregated for Regulatory Purposes $ in millions At At Segregated securities 1 $ 20,552 $ 34,106 1. Securities segregated under federal regulations for the Firm’s U.S. broker-dealers are sourced from Securities purchased under agreements to resell and Trading assets in the balance sheets. Customer Margin and Other Lending $ in millions At At Margin and other lending $ 69,608 $ 74,714 The Firm provides margin lending arrangements that allow customers to borrow against the value of qualifying securities. Receivables from these arrangements are included within Customer and other receivables in the balance sheets. Under these arrangements, the Firm receives collateral, which includes U.S. government and agency securities, other sovereign government obligations, corporate and other debt, and corporate equities. Margin loans are collateralized by customer-owned securities held by the Firm. The Firm monitors required margin levels and established credit terms daily and, pursuant to such guidelines, requires customers to deposit additional collateral, or reduce positions, when necessary. For a further discussion of the Firm’s margin lending activities, see Note 9 to the financial statements in the 2020 Form 10-K. Also included in the amounts in the previous table is non-purpose securities-based lending on non-bank entities in the Wealth Management business segment. Other Secured Financings The Firm has additional secured liabilities. For a further discussion of other secured financings, see Note 13.

Loans, Lending Commitments and

Loans, Lending Commitments and Related Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans, Lending Commitments and Related Allowance for Credit Losses	Loans, Lending Commitments and Related Allowance for Credit Losses Loans by Type At September 30, 2021 $ in millions Loans Held for Investment Loans Held for Sale Total Loans Corporate $ 4,774 $ 8,998 $ 13,772 Secured lending facilities 27,345 3,650 30,995 Commercial real estate 6,915 434 7,349 Residential real estate 41,428 8 41,436 Securities-based lending and Other loans 80,413 78 80,491 Total loans 160,875 13,168 174,043 ACL (684) (684) Total loans, net $ 160,191 $ 13,168 $ 173,359 Fixed rate loans, net $ 40,590 Floating or adjustable rate loans, net 132,769 Loans to non-U.S. borrowers, net 21,260 At December 31, 2020 $ in millions Loans Held for Investment Loans Held for Sale Total Loans Corporate $ 6,046 $ 8,580 $ 14,626 Secured lending facilities 25,727 3,296 29,023 Commercial real estate 7,346 822 8,168 Residential real estate 35,268 48 35,316 Securities-based lending and Other loans 64,232 67 64,299 Total loans 138,619 12,813 151,432 ACL (835) (835) Total loans, net $ 137,784 $ 12,813 $ 150,597 Fixed rate loans, net $ 32,796 Floating or adjustable rate loans, net 117,801 Loans to non-U.S. borrowers, net 21,081 For additional information on the Firm’s held-for-investment and held-for-sale loan portfolios, see Note 10 to the financial statements in the 2020 Form 10-K. Note 5 for further information regarding Loans and lending commitments held at fair value. See Note 14 for details of current commitments to lend in the future. Loans Held for Investment before Allowance by Origination Year At September 30, 2021 At December 31, 2020 Corporate $ in millions IG NIG Total IG NIG Total Revolving $ 1,529 $ 2,302 $ 3,831 $ 1,138 $ 3,231 $ 4,369 2021 — 71 71 2020 179 26 205 585 80 665 2019 — 181 181 204 202 406 2018 195 — 195 195 — 195 2017 — 60 60 — 64 64 Prior 231 — 231 247 100 347 Total $ 2,134 $ 2,640 $ 4,774 $ 2,369 $ 3,677 $ 6,046 At September 30, 2021 At December 31, 2020 Secured lending facilities $ in millions IG NIG Total IG NIG Total Revolving $ 7,000 $ 16,034 $ 23,034 $ 4,711 $ 14,510 $ 19,221 2021 33 354 387 2020 84 175 259 162 253 415 2019 173 1,065 1,238 260 1,904 2,164 2018 310 786 1,096 614 1,432 2,046 2017 144 306 450 245 581 826 Prior — 881 881 — 1,055 1,055 Total $ 7,744 $ 19,601 $ 27,345 $ 5,992 $ 19,735 $ 25,727 At September 30, 2021 At December 31, 2020 Commercial real estate $ in millions IG NIG Total IG NIG Total 2021 260 537 797 2020 160 813 973 95 943 1,038 2019 1,148 1,400 2,548 1,074 1,848 2,922 2018 533 415 948 746 774 1,520 2017 334 339 673 412 387 799 Prior 100 876 976 100 967 1,067 Total $ 2,535 $ 4,380 $ 6,915 $ 2,427 $ 4,919 $ 7,346 At September 30, 2021 Residential real estate by FICO Scores by LTV Ratio Total $ in millions ≥ 740 680-739 ≤ 679 ≤ 80% > 80% Revolving $ 66 $ 26 $ 4 $ 96 $ — $ 96 2021 8,749 1,863 164 10,099 677 10,776 2020 8,245 1,711 133 9,557 532 10,089 2019 4,941 1,130 149 5,836 384 6,220 2018 1,977 519 65 2,369 192 2,561 2017 2,282 584 76 2,736 206 2,942 Prior 6,350 2,060 334 7,967 777 8,744 Total $ 32,610 $ 7,893 $ 925 $ 38,660 $ 2,768 $ 41,428 At December 31, 2020 Residential real estate by FICO Scores by LTV Ratio Total $ in millions ≥ 740 680-739 ≤ 679 ≤ 80% > 80% Revolving $ 85 $ 32 $ 5 $ 122 $ — $ 122 2020 8,948 1,824 149 10,338 583 10,921 2019 5,592 1,265 168 6,584 441 7,025 2018 2,320 604 75 2,756 243 2,999 2017 2,721 690 89 3,251 249 3,500 2016 3,324 884 118 4,035 291 4,326 Prior 4,465 1,626 284 5,684 691 6,375 Total $ 27,455 $ 6,925 $ 888 $ 32,770 $ 2,498 $ 35,268 At September 30, 2021 Securities-based lending 1 Other 2 $ in millions Investment Grade Non-Investment Grade Total Revolving $ 67,009 $ 5,783 $ 670 $ 73,462 2021 31 346 64 441 2020 — 729 590 1,319 2019 19 1,105 627 1,751 2018 232 288 384 904 2017 — 521 262 783 Prior 16 1,395 342 1,753 Total $ 67,307 $ 10,167 $ 2,939 $ 80,413 December 31, 2020 Securities-based lending 1 Other 2 $ in millions Investment Grade Non-Investment Grade Total Revolving $ 51,667 $ 4,816 $ 555 $ 57,038 2020 — 1,073 590 1,663 2019 18 1,156 623 1,797 2018 232 407 403 1,042 2017 — 654 122 776 2016 — 566 111 677 Prior 16 1,066 157 1,239 Total $ 51,933 $ 9,738 $ 2,561 $ 64,232 1. Securities-based loans are subject to collateral maintenance provisions, and at September 30, 2021 and December 31, 2020, these loans are predominantly over-collateralized. For more information on the ACL methodology related to securities-based loans, see Note 2 to the financial statements in the 2020 Form 10-K. 2. Other loans primarily include certain loans originated in the tailored lending business within the Wealth Management business segment. Past Due Loans Held for Investment before Allowance 1 $ in millions At September 30, 2021 At December 31, 2020 Corporate $ 4 $ — Residential real estate 235 332 Securities-based lending and Other loans — 31 Total $ 239 $ 363 1. The majority of the amounts are past due for a period of greater than 90 days as of September 30, 2021, and the majority of the amounts are past due for a period of less than 90 days as of December 31, 2020. Nonaccrual Loans Held for Investment before Allowance $ in millions At September 30, 2021 At December 31, 2020 Corporate $ 82 $ 164 Secured lending facilities 388 — Commercial real estate 68 152 Residential real estate 127 97 Securities-based lending and Other loans 161 178 Total 1 $ 826 $ 591 Nonaccrual loans without an ACL $ 125 $ 90 1. Includes all HFI loans that are 90 days or more past due as of September 30, 2021 and December 31, 2020. See Note 2 to the financial statements in the 2020 Form 10-K for a description of the ACL calculated under the CECL methodology, including credit quality indicators, used for HFI loans. Troubled Debt Restructurings $ in millions At September 30, 2021 At December 31, 2020 Loans, before ACL $ 65 $ 167 Lending commitments — 27 ACL on Loans and Lending commitments 9 36 Troubled debt restructurings typically include modifications of interest rates, collateral requirements, other loan covenants and payment extensions. See Note 2 to the financial statements in the 2020 Form 10-K for further information on TDR guidance issued by Congress in the CARES Act as well as by the U.S. banking agencies. Allowance for Credit Losses Rollforward—Loans $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2020 $ 309 $ 198 $ 211 $ 59 $ 58 $ 835 Gross charge-offs (19) (67) (21) — — (107) Provision for credit losses (91) 47 4 (2) 5 (37) Other (2) (3) (1) 1 (2) (7) September 30, 2021 $ 197 $ 175 $ 193 $ 58 $ 61 $ 684 $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2019 $ 115 $ 101 $ 75 $ 25 $ 33 $ 349 Effect of CECL adoption (2) (42) 34 21 (2) 9 Gross charge-offs (33) — (26) — — (59) Recoveries 3 — — — 2 5 Net recoveries (charge-offs) (30) — (26) — 2 (54) Provision for credit losses 281 131 173 12 4 601 Other 3 1 (34) — 38 8 September 30, 2020 $ 367 $ 191 $ 222 $ 58 $ 75 $ 913 Allowance for Credit Losses Rollforward—Lending Commitments $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2020 $ 323 $ 38 $ 11 $ 1 $ 23 $ 396 Provision for credit losses 39 2 — — (5) 36 Other (3) 1 (1) — — (3) September 30, 2021 $ 359 $ 41 $ 10 $ 1 $ 18 $ 429 $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2019 $ 201 $ 27 $ 7 $ — $ 6 $ 241 Effect of CECL adoption (41) (11) 1 2 (1) (50) Provision for credit losses 119 24 7 (1) 7 156 Other — — (4) — 4 — September 30, 2020 $ 279 $ 40 $ 11 $ 1 $ 16 $ 347 CRE—Commercial real estate SBL—Securities-based lending Provision for Credit Losses Three Months Ended $ in millions 2021 2020 Loans $ 5 $ 63 Lending commitments 19 48 The aggregate allowance for loans and lending commitments decreased in the current year period, primarily reflecting charge-offs, as well as an allowance release as a result of paydowns on Corporate loans, including by lower-rated borrowers, offset by the provision for one Secured lending facility.The base scenario used in our ACL models as of September 30, 2021 was generated using a combination of industry consensus economic forecasts, forward rates, and internally developed and validated models. Given the nature of our lending portfolio, the most sensitive model input is U.S. gross domestic product. The base scenario, among other things, assumes continued growth over the forecast period and a year-over-year U.S. GDP effective growth rate of approximately 6% in the fourth quarter of 2021, supported by fiscal stimulus and accommodative monetary policy. For a further discussion of the Firm’s loans as well as the Firm’s allowance methodology, refer to Notes 2 and 10 to the financial statements in the 2020 Form 10-K. Employee Loans $ in millions At At Currently employed by the Firm 1 $ 3,486 $ 3,100 No longer employed by the Firm 2 128 $ 140 Employee loans $ 3,614 $ 3,240 ACL (163) (165) Employee loans, net of ACL $ 3,451 $ 3,075 Remaining repayment term, weighted average in years 5.6 5.3 1. These loans were predominantly current as of September 30, 2021 and December 31, 2020. 2. These loans were predominantly past due for a period of 90 days or more as of September 30, 2021 and December 31, 2020. Employee loans are granted in conjunction with a program established primarily to recruit certain Wealth Management representatives, are full recourse and generally require periodic repayments, and are due in full upon termination of employment with the Firm. These loans are recorded in Customer and other receivables in the balance sheets. The ACL as of September 30, 2021 and December 31, 2020 was calculated under the CECL methodology. The related provision is recorded in Compensation and benefits expense in the income statements. See Note 2 to the financial statements in the 2020 Form 10-K for a description of the CECL allowance methodology, including credit quality indicators, for employee loans.

Other Assets - Equity Method In

Other Assets - Equity Method Investments	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Other Assets - Equity Method Investments	Other Assets—Equity Method Investments Equity Method Investments $ in millions At At Investments $ 2,298 $ 2,410 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Income (loss) $ 24 $ 10 $ 51 $ (24) Equity method investments, other than investments in certain fund interests, are summarized above and are included in Other assets in the balance sheets with related income or loss included in Other revenues in the income statements. See “Net Asset Value Measurements—Fund Interests” in Note 5 for the carrying value of certain of the Firm’s fund interests, which are comprised of general and limited partnership interests, as well as any related carried interest. Japanese Securities Joint Venture Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Income (loss) from investment in MUMSS $ 29 $ 15 $ 113 $ 46 For more information on Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (“MUMSS”) and other relationships with Mitsubishi UFJ Financial Group, Inc., see Note 12 to the financial statements in the 2020 Form 10-K.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2021
Deposits [Abstract]
Deposits	Deposits Deposits $ in millions At At Savings and demand deposits $ 310,845 $ 279,221 Time deposits 18,196 31,561 Total $ 329,041 $ 310,782 Deposits subject to FDIC insurance $ 226,605 $ 234,211 Time deposits that equal or exceed the FDIC insurance limit $ — $ 16 Time Deposit Maturities $ in millions At 2021 $ 3,544 2022 6,124 2023 4,243 2024 2,813 2025 793 Thereafter 679 Total $ 18,196

Borrowings and Other Secured Fi

Borrowings and Other Secured Financings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings and Other Secured Financings	Borrowings and Other Secured Financings Borrowings $ in millions At At Original maturities of one year or less $ 4,825 $ 3,691 Original maturities greater than one year Senior $ 211,226 $ 202,305 Subordinated 13,711 11,083 Total $ 224,937 $ 213,388 Total borrowings $ 229,762 $ 217,079 Weighted average stated maturity, in years 1 7.7 7.3 1. Only includes borrowings wit h original maturities greater than one year. Other Secured Financings $ in millions At At Original maturities: One year or less $ 4,947 $ 10,453 Greater than one year 5,325 5,410 Total $ 10,272 $ 15,863 Transfers of assets accounted for as secured financings $ 1,255 $ 1,529 Other secured financings include the liabilities related to certain ELNs, transfers of financial assets that are accounted for as financings rather than sales, pledged commodities, consolidated VIEs where the Firm is deemed to be the primary beneficiary and other secured borrowings. These liabilities are generally payable from the cash flows of the related assets accounted for as Trading assets. See Note 15 for further information on other secured financings related to VIEs and securitization activities. For transfers of assets that fail to meet accounting criteria for a sale, the Firm continues to record the assets and recognizes the associated liabilities in the balance sheets.

Commitments, Guarantees and Con

Commitments, Guarantees and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments, Guarantees and Contingencies	Commitments, Guarantees and Contingencies Commitments Years to Maturity at September 30, 2021 $ in millions Less than 1 1-3 3-5 Over 5 Total Lending: Corporate $ 16,994 $ 36,794 $ 45,711 $ 7,396 $ 106,895 Secured lending facilities 4,799 6,061 1,717 630 13,207 Commercial and Residential real estate 303 242 133 270 948 Securities-based lending and Other 12,028 3,132 470 436 16,066 Forward-starting secured financing receivables 64,603 — — — 64,603 Central counterparty 300 — — 11,807 12,107 Underwriting 428 14 — — 442 Investment activities 1,119 240 60 409 1,828 Letters of credit and other financial guarantees 26 — — 3 29 Total $ 100,600 $ 46,483 $ 48,091 $ 20,951 $ 216,125 Lending commitments participated to third parties $ 8,380 Forward-starting secured financing receivables settled within three business days $ 55,387 Since commitments associated with these instruments may expire unused, the amounts shown do not necessarily reflect the actual future cash funding requirements. For a further description of these commitments, refer to Note 15 to the financial statements in the 2020 Form 10-K. Guarantees At September 30, 2021 Maximum Potential Payout/Notional of Obligations by Years to Maturity Carrying Amount Asset (Liability) $ in millions Less than 1 1-3 3-5 Over 5 Non-credit derivatives 1 $ 1,231,656 $ 1,036,489 $ 396,233 $ 933,946 $ (48,593) Standby letters of credit and other financial guarantees issued 2 1,466 1,053 770 3,573 88 Market value guarantees 75 20 — — — Liquidity facilities 4,022 — — — 5 Whole loan sales guarantees — — 69 23,112 — Securitization representations and warranties 3 — — — 74,446 (42) General partner guarantees 327 12 32 114 (65) Client clearing guarantees 54 — — — — 1. The carrying amounts of derivative contracts that meet the accounting definition of a guarantee are shown on a gross basis. For further information on derivatives contracts, see Note 7. 2. These amounts include certain issued standby letters of credit participated to third parties, totaling $0.6 billion of notional and collateral/recourse, due to the nature of the Firm’s obligations under these arrangements. As of September 30, 2021, the carrying amount of standby letters of credit and other financial guarantees issued includes an allowance for credit losses of $85 million. 3. Primarily related to residential mortgage securitizations. The Firm has obligations under certain guarantee arrangements, including contracts and indemnification agreements, that contingently require the Firm to make payments to the guaranteed party based on changes in an underlying measure (such as an interest or foreign exchange rate, security or commodity price, an index, or the occurrence or non-occurrence of a specified event) related to an asset, liability or equity security of a guaranteed party. Also included as guarantees are contracts that contingently require the Firm to make payments to the guaranteed party based on another entity’s failure to perform under an agreement, as well as indirect guarantees of the indebtedness of others. For more information on the nature of the obligations and related business activities for our guarantees, see Note 15 to the financial statements in the 2020 Form 10-K. Other Guarantees and Indemnities In the normal course of business, the Firm provides guarantees and indemnifications in a variety of transactions. These provisions generally are standard contractual terms. Certain of these guarantees and indemnifications related to indemnities, exchange and clearinghouse member guarantees and merger and acquisition guarantees are described in Note 15 to the financial statements in the 2020 Form 10-K. In addition, in the ordinary course of business, the Firm guarantees the debt and/or certain trading obligations (including obligations associated with derivatives, foreign exchange contracts and the settlement of physical commodities) of certain subsidiaries. These guarantees generally are entity or product specific and are required by investors or trading counterparties. The activities of the Firm’s subsidiaries covered by these guarantees (including any related debt or trading obligations) are included in the financial statements. Finance Subsidiary The Parent Company fully and unconditionally guarantees the securities issued by Morgan Stanley Finance LLC, a wholly owned finance subsidiary. No other subsidiary of the Parent Company guarantees these securities. Contingencies Legal In addition to the matters described in the following paragraphs, in the normal course of business, the Firm has been named, from time to time, as a defendant in various legal actions, including arbitrations, class actions and other litigation, arising in connection with its activities as a global diversified financial services institution. Certain of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. In some cases, the entities that would otherwise be the primary defendants in such cases are bankrupt or are in financial distress. These actions have included, but are not limited to, residential mortgage and credit crisis-related matters. While the Firm has identified below any individual proceedings where the Firm believes a material loss to be reasonably possible and reasonably estimable, there can be no assurance that material losses will not be incurred from claims that have not yet been asserted or those where potential losses have not yet been determined to be probable or possible, and reasonably estimable. The Firm contests liability and/or the amount of damages as appropriate in each pending matter. Where available information indicates that it is probable a liability had been incurred at the date of the financial statements and the Firm can reasonably estimate the amount of that loss, the Firm accrues the estimated loss by a charge to income. In many proceedings and investigations, however, it is inherently difficult to determine whether any loss is probable or even possible or to estimate the amount of any loss. In addition, even where a loss is possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is not always possible to reasonably estimate the size of the possible loss or range of loss, particularly for proceedings and investigations where the factual record is being developed or contested or where plaintiffs or government entities seek substantial or indeterminate damages, restitution, disgorgement or penalties. Numerous issues may need to be resolved before a loss or additional loss, or range of loss or additional range of loss, can be reasonably estimated for a proceeding or investigation, including through potentially lengthy discovery and determination of important factual matters, determination of issues related to class certification and the calculation of damages or other relief, and by addressing novel or unsettled legal questions relevant to the proceedings or investigations in question. For certain other legal proceedings and investigations, the Firm can estimate reasonably possible losses, additional losses, ranges of loss or ranges of additional loss in excess of amounts accrued but does not believe, based on current knowledge and after consultation with counsel, that such losses could have a material adverse effect on the Firm’s financial statements as a whole, other than the matters referred to in the following paragraphs. On September 23, 2014, Financial Guaranty Insurance Company (“FGIC”) filed a complaint against the Firm in the Supreme Court of the State of New York County (“Supreme Court of NY”) styled Financial Guaranty Insurance Company v. Morgan Stanley ABS Capital I Inc. et al . relating to the Morgan Stanley ABS Capital I Inc. Trust 2007-NC4. The complaint asserts claims for breach of contract and fraudulent inducement and alleges, among other things, that the loans in the trust breached various representations and warranties and defendants made untrue statements and material omissions to induce FGIC to issue a financial guaranty policy on certain classes of certificates that had an original balance of approximately $876 million. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, compensatory, consequential and punitive damages, attorneys’ fees, interest and costs. On January 23, 2017, the court denied the Firm’s motion to dismiss the complaint. On September 13, 2018, the Appellate Division, First Department (“First Department”) affirmed in part and reversed in part the lower court’s order denying the Firm’s motion to dismiss the complaint. On December 20, 2018, the First Department denied plaintiff’s motion for leave to appeal to the New York Court of Appeals (“Court of Appeals”) or, in the alternative, for re-argument. On July 30, 2021, the Firm filed a motion for summary judgment. Based on currently available information, the Firm believes that it could incur a loss in this action of up to approximately $277 million, the total original unpaid balance of the mortgage loans for which the Firm received repurchase demands from a certificate holder and FGIC that the Firm did not repurchase, plus pre- and post- judgment interest, fees and costs, as well as claim payments that FGIC has made and will make in the future. In addition, plaintiff is seeking to expand the number of loans at issue and the possible range of loss could increase. On January 23, 2015, Deutsche Bank National Trust Company, in its capacity as trustee, filed a complaint against the Firm styled Deutsche Bank National Trust Company solely in its capacity as Trustee of the Morgan Stanley ABS Capital I Inc. Trust 2007-NC4 v. Morgan Stanley Mortgage Capital Holdings LLC as Successor-by-Merger to Morgan Stanley Mortgage Capital Inc., and Morgan Stanley ABS Capital I Inc. , pending in the Supreme Court of NY. The complaint asserts claims for breach of contract and alleges, among other things, that the loans in the trust, which had an original principal balance of approximately $1.05 billion, breached various representations and warranties. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, compensatory, consequential, rescissory, equitable and punitive damages, attorneys’ fees, costs and other related expenses, and interest. On December 11, 2015, the court granted in part and denied in part the Firm’s motion to dismiss the complaint. On October 19, 2018, the court granted the Firm’s motion for leave to amend its answer and to stay the case pending resolution of Deutsche Bank National Trust Company’s appeal to the Court of Appeals in another case, styled Deutsche Bank National Trust Company v. Barclays Bank PLC , regarding the applicable statute of limitations. On January 17, 2019, the First Department reversed the trial court’s order to the extent that it had granted in part the Firm’s motion to dismiss the complaint. On June 4, 2019, the First Department granted the Firm’s motion for leave to appeal its January 17, 2019 decision to the Court of Appeals. On March 19, 2020, the Firm filed a motion for partial summary judgment. On December 22, 2020, the Court of Appeals reversed the First Department and reinstated the trial court's order to the extent it had granted in part the Firm's motion to dismiss the complaint. Based on currently available information, the Firm believes that it could incur a loss in this action of up to approximately $277 million, the total original unpaid balance of the mortgage loans for which the Firm received repurchase demands from a certificate holder and a monoline insurer that the Firm did not repurchase, plus pre- and post-judgment interest, fees and costs, but plaintiff is seeking to expand the number of loans at issue and the possible range of loss could increase. Tax In matters styled Case number 15/3637 and Case number 15/4353 , the Dutch Tax Authority (“Dutch Authority”) is challenging in the Dutch courts, the prior set-off by the Firm of approximately €124 million (approximately $144 million) plus accrued interest of withholding tax credits against the Firm’s corporation tax liabilities for the tax years 2007 to 2012. The Dutch Authority alleges that the Firm was not entitled to receive the withholding tax credits on the basis, inter alia, that a Firm subsidiary did not hold legal title to certain securities subject to withholding tax on the relevant dates. The Dutch Authority has also alleged that the Firm failed to provide certain information to the Dutch Authority and keep adequate books and records. On April 26, 2018, the District Court in Amsterdam issued a decision dismissing the Dutch Authority’s claims with respect to certain of the tax years in dispute. On May 12, 2020, the Court of Appeal in Amsterdam granted the Dutch Authority’s appeal in matters re-styled Case number 18/00318 and Case number 18/00319 . On June 22, 2020, the Firm filed an appeal against the decision of the Court of Appeal in Amsterdam before the Dutch High Court. On January 29, 2021, the Advocate General of the Dutch High Court issued an advisory opinion on the Firm’s appeal, which rejected the Firm’s principal grounds of appeal. On February 11, 2021, the Firm and the Dutch Authority each responded to this opinio n. On June 22, 2021, Dutch criminal authorities sought various documents in connection with an investigation of the Firm related to the civil claims asserted by the Dutch Authority concerning the accuracy of the Firm subsidiary’s tax returns and the maintenance of its books and records for 2007 to 2012.

Variable Interest Entities and

Variable Interest Entities and Securitization Activities	9 Months Ended
	Sep. 30, 2021
Variable Interest Entities and Securitization Activities [Abstract]
Variable Interest Entities and Securitization Activities	Variable Interest Entities and Securitization Activities Consolidated VIE Assets and Liabilities by Type of Activity 1 At September 30, 2021 At December 31, 2020 $ in millions VIE Assets VIE Liabilities VIE Assets VIE Liabilities MABS 2 $ 774 $ 234 $ 590 $ 17 Investment vehicles 3 696 216 776 355 Operating entities 497 38 504 39 Other 452 220 248 3 Total $ 2,419 $ 708 $ 2,118 $ 414 1. Certain prior period amounts have been reclassified to conform to the current presentation. 2. Amounts include transactions backed by residential mortgage loans, commercial mortgage loans and other types of assets, including consumer or commercial assets and may be in loan or security form. The value of assets is determined based on the fair value of the liabilities and the interests owned by the Firm in such VIEs as the fair values for the liabilities and interests owned are more observable. 3. Amounts include investment funds and CLOs. Consolidated VIE Assets and Liabilities by Balance Sheet Caption $ in millions At At Assets Cash and cash equivalents $ 270 $ 269 Trading assets at fair value 1,550 1,445 Investment securities 33 — Securities purchased under agreements to resell 200 — Customer and other receivables 18 23 Intangible assets 89 98 Other assets 259 283 Total $ 2,419 $ 2,118 Liabilities Other secured financings $ 505 $ 366 Other liabilities and accrued expenses 203 48 Total $ 708 $ 414 Noncontrolling interests $ 130 $ 196 Consolidated VIE assets and liabilities are presented in the previous tables after intercompany eliminations. Generally, most assets owned by consolidated VIEs cannot be removed unilaterally by the Firm and are not available to the Firm while the related liabilities issued by consolidated VIEs are non-recourse to the Firm. However, in certain consolidated VIEs, the Firm either has the unilateral right to remove assets or provides additional recourse through derivatives such as total return swaps, guarantees or other forms of involvement. In general, the Firm’s exposure to loss in consolidated VIEs is limited to losses that would be absorbed on the VIE net assets recognized in its financial statements, net of amounts absorbed by third-party variable interest holders. Non-consolidated VIEs At September 30, 2021 $ in millions MABS 1 CDO MTOB OSF Other 2 VIE assets (UPB) $ 157,608 $ 1,968 $ 6,048 $ 2,014 $ 53,835 Maximum exposure to loss 3 Debt and equity interests $ 19,539 $ 169 $ — $ 1,239 $ 10,497 Derivative and other contracts — — 4,022 — 6,345 Commitments, guarantees and other 530 — — — 1,119 Total $ 20,069 $ 169 $ 4,022 $ 1,239 $ 17,961 Carrying value of variable interests—Assets Debt and equity interests $ 19,539 $ 169 $ — $ 1,239 $ 10,497 Derivative and other contracts — — 6 — 2,307 Total $ 19,539 $ 169 $ 6 $ 1,239 $ 12,804 Additional VIE assets owned 4 $ 15,975 Carrying value of variable interests—Liabilities Derivative and other contracts $ — $ — $ — $ — $ 224 At December 31, 2020 $ in millions MABS 1 CDO MTOB OSF Other 2 VIE assets (UPB) $ 184,153 $ 3,527 $ 6,524 $ 2,161 $ 48,241 Maximum exposure to loss 3 Debt and equity interests $ 26,247 $ 257 $ — $ 1,187 $ 11,008 Derivative and other contracts — — 4,425 — 5,639 Commitments, guarantees and other 929 — — — 749 Total $ 27,176 $ 257 $ 4,425 $ 1,187 $ 17,396 Carrying value of variable interests – Assets Debt and equity interests $ 26,247 $ 257 $ — $ 1,187 $ 11,008 Derivative and other contracts — — 5 — 851 Total $ 26,247 $ 257 $ 5 $ 1,187 $ 11,859 Additional VIE assets owned 4 $ 20,019 Carrying value of variable interests—Liabilities Derivative and other contracts $ — $ — $ — $ — $ 222 MTOB—Municipal tender option bonds 1. Amounts include transactions backed by residential mortgage loans, commercial mortgage loans and other types of assets, including consumer or commercial assets, and may be in loan or security form. 2. Other primarily includes exposures to commercial real estate property and investment funds. 3. Where notional amounts are utilized in quantifying the maximum exposure related to derivatives, such amounts do not reflect changes in fair value recorded by the Firm. 4. Additional VIE assets owned represents the carrying value of total exposure to non-consolidated VIEs for which the maximum exposure to loss is less than specific thresholds, primarily interests issued by securitization SPEs. The Firm’s maximum exposure to loss generally equals the fair value of the assets owned. These assets are primarily included in Trading assets and Investment securities and are measured at fair value (see Note 5). The Firm does not provide additional support in these transactions through contractual facilities, guarantees or similar derivatives. The majority of the VIEs included in the previous tables are sponsored by unrelated parties; examples of the Firm’s involvement with these VIEs include its secondary market-making activities and the securities held in its Investment securities portfolio (see Note 8). The Firm’s maximum exposure to loss is dependent on the nature of the Firm’s variable interest in the VIE and is limited to the notional amounts of certain liquidity facilities and other credit support, total return swaps and written put options, as well as the fair value of certain other derivatives and investments the Firm has made in the VIE. The Firm’s maximum exposure to loss in the previous tables does not include the offsetting benefit of hedges or any reductions associated with the amount of collateral held as part of a transaction with the VIE or any party to the VIE directly against a specific exposure to loss. Liabilities issued by VIEs generally are non-recourse to the Firm. Detail of Mortgage- and Asset-Backed Securitization Assets At September 30, 2021 At December 31, 2020 $ in millions UPB Debt and Equity Interests UPB Debt and Equity Interests Residential mortgages $ 23,049 $ 2,536 $ 17,775 $ 3,175 Commercial mortgages 67,858 3,741 62,093 4,131 U.S. agency collateralized mortgage obligations 62,470 10,881 99,182 17,224 Other consumer or commercial loans 4,231 2,381 5,103 1,717 Total $ 157,608 $ 19,539 $ 184,153 $ 26,247 Transferred Assets with Continuing Involvement At September 30, 2021 $ in millions RML CML U.S. Agency CMO CLN and Other 1 SPE assets (UPB) 2 $ 7,528 $ 92,588 $ 38,788 $ 13,481 Retained interests Investment grade $ 93 $ 938 $ 629 $ — Non-investment grade 21 287 — 74 Total $ 114 $ 1,225 $ 629 $ 74 Interests purchased in the secondary market Investment grade $ 7 $ 83 $ 41 $ — Non-investment grade 34 77 — — Total $ 41 $ 160 $ 41 $ — Derivative assets $ — $ — $ — $ 586 Derivative liabilities — — — 178 At December 31, 2020 $ in millions RML CML U.S. Agency CMO CLN and Other 1 SPE assets (UPB) 2 $ 7,515 $ 84,674 $ 21,061 $ 12,978 Retained interests Investment grade $ 49 $ 822 $ 615 $ — Non-investment grade 16 195 — 114 Total $ 65 $ 1,017 $ 615 $ 114 Interests purchased in the secondary market Investment grade $ — $ 96 $ 116 $ — Non-investment grade 43 80 — 21 Total $ 43 $ 176 $ 116 $ 21 Derivative assets $ — $ — $ — $ 400 Derivative liabilities — — — 436 Fair Value At September 30, 2021 $ in millions Level 2 Level 3 Total Retained interests Investment grade $ 725 $ — $ 725 Non-investment grade 38 52 90 Total $ 763 $ 52 $ 815 Interests purchased in the secondary market Investment grade $ 124 $ 7 $ 131 Non-investment grade 74 37 111 Total $ 198 $ 44 $ 242 Derivative assets $ 585 $ 1 $ 586 Derivative liabilities 149 29 178 Fair Value at December 31, 2020 $ in millions Level 2 Level 3 Total Retained interests Investment grade $ 663 $ — $ 663 Non-investment grade 6 63 69 Total $ 669 $ 63 $ 732 Interests purchased in the secondary market Investment grade $ 196 $ 16 $ 212 Non-investment grade 62 82 144 Total $ 258 $ 98 $ 356 Derivative assets $ 388 $ 12 $ 400 Derivative liabilities 435 1 436 RML—Residential mortgage loans CML—Commercial mortgage loans 1. Amounts include CLO transactions managed by unrelated third parties. 2. Amounts include assets transferred by unrelated transferors. The previous tables include transactions with SPEs in which the Firm, acting as principal, transferred financial assets with continuing involvement and received sales treatment. The transferred assets are carried at fair value prior to securitization, and any changes in fair value are recognized in the income statements. The Firm may act as underwriter of the beneficial interests issued by these securitization vehicles, for which Investment banking revenues are recognized. The Firm may retain interests in the securitized financial assets as one or more tranches of the securitization. These retained interests are generally carried at fair value in the balance sheets with changes in fair value recognized in the income statements. Fair value for these interests is measured using techniques that are consistent with the valuation techniques applied to the Firm’s major categories of assets and liabilities as described in Note 2 in the 2020 Form 10-K and Note 5 herein. Further, as permitted by applicable guidance, certain transfers of assets where the Firm’s only continuing involvement is a derivative are only reported in the following Assets Sold with Retained Exposure table. Proceeds from New Securitization Transactions and Sales of Loans Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 New transactions 1 $ 12,103 $ 12,969 $ 43,303 $ 30,629 Retained interests 2,396 1,991 7,960 7,215 Sales of corporate loans to CLO SPEs 1, 2 144 234 217 373 1. Net gains on new transactions and sales of corporate loans to CLO entities at the time of the sale were not material for all periods presented. 2. Sponsored by non-affiliates. The Firm has provided, or otherwise agreed to be responsible for, representations and warranties regarding certain assets transferred in securitization transactions sponsored by the Firm (see Note 14). Assets Sold with Retained Exposure $ in millions At At Gross cash proceeds from sale of assets 1 $ 64,054 $ 45,051 Fair value Assets sold $ 64,185 $ 46,609 Derivative assets recognized 901 1,592 Derivative liabilities recognized 771 64 1. The carrying value of assets derecognized at the time of sale approximates gross cash proceeds. The Firm enters into transactions in which it sells securities, primarily equities, and contemporaneously enters into bilateral OTC derivatives with the purchasers of the securities, through which it retains exposure to the sold securities. For a discussion of the Firm’s VIEs, the determination and structure of VIEs and securitization activities, see Note 16 to the financial statements in the 2020 Form 10-K.

Regulatory Requirements

Regulatory Requirements	9 Months Ended
	Sep. 30, 2021
Brokers and Dealers [Abstract]
Regulatory Requirements	Regulatory Requirements Regulatory Capital Framework and Requirements For a discussion of the Firm’s regulatory capital framework, see Note 17 to the financial statements in the 2020 Form 10-K. The Firm is required to maintain minimum risk-based and leverage-based capital ratios under regulatory capital requirements. A summary of the calculations of regulatory capital and RWA follows. Minimum risk-based capital ratio requirements apply to Common Equity Tier 1 capital, Tier 1 capital and Total capital (which includes Tier 2 capital). Capital standards require certain adjustments to, and deductions from, capital for purposes of determining these ratios. At September 30, 2021 and December 31, 2020, the differences between the actual and required ratios were lower under the Standardized Approach. In 2020, the U.S. banking agencies adopted a final rule, consistent with an interim final rule that was effective March 31, 2020, altering, for purposes of the regulatory capital rules, the required adoption time period for CECL. As of September 30, 2021 and December 31, 2020, the risk-based and leverage-based capital amounts and ratios, as well as RWA, adjusted average assets and supplementary leverage exposure are calculated excluding the effect of the adoption of CECL based on the Firm’s election to defer this effect over a five- year transition period which began on January 1, 2020 in accordance with the final rule. Risk-Based Regulatory Capital Ratio Requirements At September 30, 2021 and December 31, 2020 Standardized Advanced Capital buffers Capital conservation buffer — 2.5% SCB 5.7% N/A G-SIB capital surcharge 3.0% 3.0% CCyB 1 0% 0% Capital buffer requirement 2 8.7% 5.5% At September 30, 2021 and December 31, 2020 Regulatory Minimum Standardized Advanced Required ratios 3 Common Equity Tier 1 capital ratio 4.5 % 13.2% 10.0% Tier 1 capital ratio 6.0 % 14.7% 11.5% Total capital ratio 8.0 % 16.7% 13.5% 1. The CCyB can be set up to 2.5%, but is currently set by the U.S. banking agencies at zero. 2. The capital buffer requirement represents the amount of Common Equity Tier 1 capital the Firm must maintain above the minimum risk-based capital requirements in order to avoid restrictions on the Firm's ability to make capital distributions, including the payment of dividends and the repurchase of stock, and to pay discretionary bonuses to executive officers. The Firm's Standardized Approach capital buffer requirement is equal to the sum of the SCB, G-SIB capital surcharge and CCyB, and the Advanced Approach capital buffer requirement is equal to the 2.5% capital conservation buffer, G-SIB capital surcharge and CCyB. 3. Required ratios represent the regulatory minimum plus the capital buffer requirement. The Firm’s Regulatory Capital and Capital Ratios $ in millions Required 1 At September 30, 2021 At December 31, 2020 Risk-based capital Common Equity Tier 1 capital $ 75,785 $ 78,650 Tier 1 capital 83,435 88,079 Total capital 94,062 97,213 Total RWA 473,020 453,106 Common Equity Tier 1 capital ratio 13.2 % 16.0 % 17.4 % Tier 1 capital ratio 14.7 % 17.6 % 19.4 % Total capital ratio 16.7 % 19.9 % 21.5 % $ in millions Required Ratio 1 At September 30, 2021 At December 31, 2020 Leverage-based capital Adjusted average assets 2 $ 1,145,682 $ 1,053,510 Tier 1 leverage ratio 4.0 % 7.3 % 8.4 % Supplementary leverage exposure 3,4 $ 1,459,466 $ 1,192,506 SLR 4 5.0 % 5.7 % 7.4 % 1. Required ratios are inclusive of any buffers applicable as of the date presented. Failure to maintain the buffers would result in restrictions on the Firm’s ability to make capital distributions, including the payment of dividends and the repurchase of stock, and to pay discretionary bonuses to executive officers. 2. Adjusted average assets represents the denominator of the Tier 1 leverage ratio and is composed of the average daily balance of consolidated on-balance sheet assets for the quarters ending on the respective balance sheet dates, reduced by disallowed goodwill, intangible assets, investments in covered funds, defined benefit pension plan assets, after-tax gain on sale from assets sold into securitizations, investments in the Firm’s own capital instruments, certain defined tax assets and other capital deductions. 3. Supplementary leverage exposure is the sum of Adjusted average assets used in the Tier 1 leverage ratio and other adjustments, primarily: (i) for derivatives, potential future exposure and the effective notional principal amount of sold credit protection offset by qualifying purchased credit protection; (ii) the counterparty credit risk for repo-style transactions; and (iii) the credit equivalent amount for off-balance sheet exposures. 4. The Firm’s SLR and Supplementary leverage exposure as of December 31, 2020 reflect the exclusion of U.S. Treasury securities and deposits at Federal Reserve Banks based on a Federal Reserve interim final rule that was in effect until March 31, 2021. Certain U.S. Bank Subsidiaries’ Regulatory Capital and Capital Ratios The OCC establishes capital requirements for the Firm’s U.S. bank subsidiaries, which as of September 30, 2021 and December 31, 2020 include, among others, Morgan Stanley Bank, N.A. (“MSBNA”) and Morgan Stanley Private Bank, National Association (“MSPBNA”), and evaluates their compliance with such capital requirements. Regulatory capital requirements for MSBNA and MSPBNA are calculated in a similar manner to the Firm’s regulatory capital requirements, although G-SIB capital surcharge and SCB requirements do not apply to the U.S. bank subsidiaries. The OCC’s regulatory capital framework includes Prompt Corrective Action (“PCA”) standards, including “well-capitalized” PCA standards that are based on specified regulatory capital ratio minimums. For the Firm to remain an FHC, its U.S. bank subsidiaries must remain well-capitalized in accordance with the OCC’s PCA standards. In addition, failure by the U.S. bank subsidiaries to meet minimum capital requirements may result in certain mandatory and discretionary actions by regulators that, if undertaken, could have a direct material effect on the U.S. bank subsidiaries’ and the Firm’s financial statements. At September 30, 2021 and December 31, 2020, MSBNA and MSPBNA risk-based capital ratios are based on the Standardized Approach rules. At September 30, 2021 and December 31, 2020, the risk-based and leverage-based capital amounts and ratios are calculated excluding the effect of the adoption of CECL based on MSBNA’s and MSPBNA’s election to defer this effect over a five-year transition period, which began on January 1, 2020. MSBNA’s Regulatory Capital At September 30, 2021 At December 31, 2020 $ in millions Well-Capitalized Requirement Required Ratio 1 Amount Ratio Amount Ratio Risk-based capital Common Equity Tier 1 capital 6.5 % 7.0 % $ 18,562 20.8 % $ 17,238 18.7 % Tier 1 capital 8.0 % 8.5 % 18,562 20.8 % 17,238 18.7 % Total capital 10.0 % 10.5 % 19,149 21.4 % 17,882 19.4 % Leverage-based capital Tier 1 leverage 5.0 % 4.0 % $ 18,562 10.2 % $ 17,238 10.1 % SLR 6.0 % 3.0 % 18,562 8.1 % 17,238 8.0 % MSPBNA’s Regulatory Capital At September 30, 2021 At December 31, 2020 $ in millions Well-Capitalized Requirement Required Ratio 1 Amount Ratio Amount Ratio Risk-based capital Common Equity Tier 1 capital 6.5 % 7.0 % $ 9,972 24.9 % $ 8,213 21.3 % Tier 1 capital 8.0 % 8.5 % 9,972 24.9 % 8,213 21.3 % Total capital 10.0 % 10.5 % 10,045 25.1 % 8,287 21.5 % Leverage-based capital Tier 1 leverage 5.0 % 4.0 % $ 9,972 7.1 % $ 8,213 7.2 % SLR 6.0 % 3.0 % 9,972 6.9 % 8,213 6.9 % 1. Required ratios are inclusive of any buffers applicable as of the date presented. Failure to maintain the buffers would result in restrictions on the ability to make capital distributions, including the payment of dividends. U.S. Broker-Dealer Regulatory Capital Requirements MS&Co. Regulatory Capital $ in millions At September 30, At December 31, Net capital $ 15,922 $ 12,869 Excess net capital 12,043 9,034 MS&Co. is a registered U.S. broker-dealer and registered futures commission merchant and, accordingly, is subject to the minimum net capital requirements of the SEC and the CFTC. MS&Co. has consistently operated with capital in excess of its regulatory capital requirements. As an Alternative Net Capital broker-dealer, and in accordance with Securities Exchange Act of 1934 (“Exchange Act”) Rule 15c3-1, Appendix E, MS&Co. is subject to minimum net capital and tentative net capital requirements. In addition, MS&Co. must notify the SEC if its tentative net capital falls below certain levels. At September 30, 2021 and December 31, 2020, MS&Co. exceeded its net capital requirement and had tentative net capital in excess of the minimum and notification requirements. Other Regulated Subsidiaries MSSB, a registered U.S. broker-dealer and introducing broker for the futures business, is subject to the minimum net capital requirements of the SEC. MSIP, a London-based broker-dealer subsidiary, is subject to the capital requirements of the PRA, and the Morgan Stanley Europe Holdings SE Group (“MSEHSE Group”) is subject to the capital requirements of the European Central Bank, BaFin and the German Central Bank. MSSB, MSIP and the MSEHSE Group, including MSESE, a Germany-based broker-dealer, have consistently operated with capital in excess of their respective regulatory capital requirements. Additionally, E*TRADE Bank and E*TRADE Savings Bank are subject to the capital requirements of the OCC, and E*TRADE Securities LLC is subject to the minimum net capital requirements of the SEC; each of these entities has consistently operated with capital in excess of their respective regulatory capital requirements. Certain other U.S. and non-U.S. subsidiaries of the Firm are subject to various securities, commodities and banking regulations, and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate. These subsidiaries have also consistently operated with capital in excess of their local capital adequacy requirements.

Total Equity

Total Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Total Equity	Total Equity Preferred Stock Shares Outstanding Carrying Value $ in millions, except per share data At Liquidation Preference per Share At At Series A 44,000 $ 25,000 $ 1,100 $ 1,100 C 1 519,882 1,000 408 408 E 34,500 25,000 862 862 F 34,000 25,000 850 850 H 52,000 25,000 1,300 1,300 I 40,000 25,000 1,000 1,000 J 2 — — — 1,500 K 40,000 25,000 1,000 1,000 L 20,000 25,000 500 500 M 400,000 1,000 430 430 N 3,000 100,000 300 300 Total $ 7,750 $ 9,250 Shares authorized 30,000,000 1. Series C preferred stock is held by MUFG. 2. On March 15, 2021, the Firm announced the redemption in whole of its outstanding Series J preferred stock. On notice of redemption, the amount due to holders of Series J Preferred Stock was reclassified to Borrowings, and on April 15, 2021 the redemption settled at the carrying value of $1.5 billion. For a description of Series A through Series N preferred stock issuances, see Note 18 to the financial statements in the 2020 Form 10-K. The Firm’s preferred stock has a preference over its common stock upon liquidation. The Firm’s preferred stock qualifies as and is included in Tier 1 capital in accordance with regulatory capital requirements (see Note 16). On October 25, 2021, the Firm issued 52 million Depositary Shares of Series O Preferred Stock, for an aggregate price of $1.3 billion. Each Depositary Share represents a 1/1000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series O, $0.01 par value (“Series O Preferred Stock”). The Series O Preferred Stock is redeemable at the Firm’s option, (i) in whole or in part, from time to time, on any dividend payment date on or after January 15, 2027 or (ii) in whole but not in part at any time within 90 days following a regulatory capital treatment event (as described in the terms of that series), in each case at a redemption price of $25,000 per share (equivalent to $25 per Depositary Share). The Series O Preferred Stock also has a preference over the Firm’s common stock upon liquidation. Share Repurchases Three Months Ended September 30, Nine Months Ended September 30, $ in millions 2021 2020 2021 2020 Repurchases of common stock under the Firm’s Share Repurchase Program $ 3,557 $ — $ 8,631 $ 1,347 Beginning late in the first quarter of 2020, the Firm suspended its share repurchase program, however the Federal Reserve permitted the resumption of share repurchases for the current year per iod. On June 28, 2021, the Firm announced its Board of Directors authorized the repurchase of up to $12 billion of outstanding common stock from July 1, 2021 through June 30, 2022, from time to time as conditions warrant, which supersedes the previous common stock repurchase authorization. For more information on share repurchases, see Note 18 to the fi nancial statements in the 2020 Form 10-K. Common Shares Outstanding for Basic and Diluted EPS Three Months Ended Nine Months Ended in millions 2021 2020 2021 2020 Weighted average common shares outstanding, basic 1,781 1,542 1,797 1,546 Effect of dilutive Stock options, RSUs and PSUs 31 24 27 19 Weighted average common shares outstanding and common stock equivalents, diluted 1,812 1,566 1,824 1,565 Weighted average antidilutive common stock equivalents (excluded from the computation of diluted EPS) — — — 7 Dividends $ in millions, except per share data Three Months Ended Three Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 256 $ 11 $ 256 $ 11 C 25 13 25 13 E 445 15 445 15 F 430 15 430 15 H 239 12 248 13 I 398 16 398 16 J 2 — — 261 16 K 366 15 366 15 L 305 6 305 6 M 3 29 12 — — N 4 2,650 8 — — Total Preferred stock $ 123 $ 120 Common stock 0.70 $ 1,276 $ 0.35 $ 551 $ in millions, except per share data Nine Months Ended Nine Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 758 $ 33 $ 761 $ 33 C 75 39 75 39 E 1,336 45 1,336 45 F 1,289 44 1,289 44 H 719 37 897 47 I 1,195 48 1,195 48 J 2 253 15 955 58 K 1,097 45 1,097 45 L 914 18 914 18 M 3 59 24 — — N 4 5,300 16 — — Total Preferred stock $ 364 $ 377 Common stock $ 1.40 $ 2,562 $ 1.05 $ 1,662 1. Common and Preferred Stock dividends are payable quarterly, unless otherwise noted. 2. Series J was payable semiannually until July 15, 2020, after which it was payable quarterly until its redemption. 3. Series M is payable semiannually until September 15, 2026, and thereafter will be payable quarterly. 4. Series N is payable semiannually until March 15, 2023, and thereafter will be payable quarterly. Accumulated Other Comprehensive Income (Loss) 1 $ in millions CTA AFS Securities Pension and Other DVA Total June 30, 2021 $ (895) $ 1,004 $ (481) $ (2,151) $ (2,523) OCI during the period (65) (256) 5 138 (178) September 30, 2021 $ (960) $ 748 $ (476) $ (2,013) $ (2,701) June 30, 2020 $ (1,017) $ 1,827 $ (620) $ (189) $ 1 OCI during the period 81 (62) 5 (562) (538) September 30, 2020 $ (936) $ 1,765 $ (615) $ (751) $ (537) December 31, 2020 $ (795) $ 1,787 $ (498) $ (2,456) $ (1,962) OCI during the period (165) (1,039) 22 443 (739) September 30, 2021 $ (960) $ 748 $ (476) $ (2,013) $ (2,701) December 31, 2019 $ (897) $ 207 $ (644) $ (1,454) $ (2,788) OCI during the period (39) 1,558 29 703 2,251 September 30, 2020 $ (936) $ 1,765 $ (615) $ (751) $ (537) CTA—Cumulative foreign currency translation adjustments 1. Amounts are net of tax and noncontrolling interests. Components of Period Changes in OCI Three Months Ended September 30, 2021 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ (14) $ (64) $ (78) $ (13) $ (65) Reclassified to earnings — — — — — Net OCI $ (14) $ (64) $ (78) $ (13) $ (65) Change in net unrealized gains (losses) on AFS securities OCI activity $ (317) $ 74 $ (243) $ — $ (243) Reclassified to earnings (17) 4 (13) — (13) Net OCI $ (334) $ 78 $ (256) $ — $ (256) Pension and other OCI activity $ — $ — $ — $ — $ — Reclassified to earnings 7 (2) 5 — 5 Net OCI $ 7 $ (2) $ 5 $ — $ 5 Change in net DVA OCI activity $ 187 $ (46) $ 141 $ 9 $ 132 Reclassified to earnings 9 (3) 6 — 6 Net OCI $ 196 $ (49) $ 147 $ 9 $ 138 Three Months Ended September 30, 2020 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ 34 $ 76 $ 110 $ 29 $ 81 Reclassified to earnings — — — — — Net OCI $ 34 $ 76 $ 110 $ 29 $ 81 Change in net unrealized gains (losses) on AFS securities OCI activity $ (26) $ 6 $ (20) $ — $ (20) Reclassified to earnings (55) 13 (42) — (42) Net OCI $ (81) $ 19 $ (62) $ — $ (62) Pension and other OCI activity $ (1) $ 1 $ — $ — $ — Reclassified to earnings 6 (1) 5 — 5 Net OCI $ 5 $ — $ 5 $ — $ 5 Change in net DVA OCI activity $ (747) $ 178 $ (569) $ (1) $ (568) Reclassified to earnings 8 (2) 6 — 6 Net OCI $ (739) $ 176 $ (563) $ (1) $ (562) Nine Months Ended September 30, 2021 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ (106) $ (150) $ (256) $ (91) $ (165) Reclassified to earnings — — — — — Net OCI $ (106) $ (150) $ (256) $ (91) $ (165) Change in net unrealized gains (losses) on AFS securities OCI activity $ (1,146) $ 267 $ (879) $ — $ (879) Reclassified to earnings (209) 49 (160) — (160) Net OCI $ (1,355) $ 316 $ (1,039) $ — $ (1,039) Pension and other OCI activity $ 8 $ — $ 8 $ — $ 8 Reclassified to earnings 21 (7) 14 — 14 Net OCI $ 29 $ (7) $ 22 $ — $ 22 Change in net DVA OCI activity $ 591 $ (148) $ 443 $ 27 $ 416 Reclassified to earnings 36 (9) 27 — 27 Net OCI $ 627 $ (157) $ 470 $ 27 $ 443 Nine Months Ended September 30, 2020 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ 19 $ (17) $ 2 $ 38 $ (36) Reclassified to earnings (3) — (3) — (3) Net OCI $ 16 $ (17) $ (1) $ 38 $ (39) Change in net unrealized gains (losses) on AFS securities OCI activity $ 2,142 $ (503) $ 1,639 $ — $ 1,639 Reclassified to earnings (106) 25 (81) — (81) Net OCI $ 2,036 $ (478) $ 1,558 $ — $ 1,558 Pension and other OCI activity $ 20 $ (4) $ 16 $ — $ 16 Reclassified to earnings 16 (3) 13 — 13 Net OCI $ 36 $ (7) $ 29 $ — $ 29 Change in net DVA OCI activity $ 967 $ (233) $ 734 $ 41 $ 693 Reclassified to earnings 14 (4) 10 — 10 Net OCI $ 981 $ (237) $ 744 $ 41 $ 703

Interest Income and Interest Ex

Interest Income and Interest Expense	9 Months Ended
	Sep. 30, 2021
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense	Interest Income and Interest Expense Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Interest income Investment securities $ 643 $ 529 $ 2,100 $ 1,603 Loans 1,063 967 3,091 3,171 Securities purchased under agreements to resell and Securities borrowed 1 (282) (187) (899) 70 Trading assets, net of Trading liabilities 525 537 1,521 1,902 Customer receivables and Other 2 402 210 1,187 1,171 Total interest income $ 2,351 $ 2,056 $ 7,000 $ 7,917 Interest expense Deposits $ 102 $ 178 $ 330 $ 804 Borrowings 597 714 2,030 2,534 Securities sold under agreements to repurchase and Securities loaned 3 131 165 361 883 Customer payables and Other 4 (542) (487) (1,677) (746) Total interest expense $ 288 $ 570 $ 1,044 $ 3,475 Net interest $ 2,063 $ 1,486 $ 5,956 $ 4,442 1. Includes fees paid on Securities borrowed. 2. Includes interest from Cash and cash equivalents. 3. Includes fees received on Securities loaned. 4. Includes fees received from Equity Financing customers for stock loan transactions entered into to cover customers’ short positions. Interest income and Interest expense are classified in the income statements based on the nature of the instrument and related market conventions. When included as a component of the instrument’s fair value, interest is included within Trading revenues or Investments revenues. Otherwise, it is included within Interest income or Interest expense. Accrued Interest $ in millions At At December 31, 2020 Customer and other receivables $ 2,229 $ 1,652 Customer and other payables 2,374 2,119

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Firm is under continuous examination by the IRS and other tax authorities in certain countries, such as Japan and the U.K., and in states and localities in which it has significant business operations, such as New York. The Firm believes that the resolution of these tax examinations will not have a material effect on the annual financial statements, although a resolution could have a material impact in the income statement and on the effective tax rate for any period in which such resolutions occur. It is reasonably possible that significant changes in the balance of unrecognized tax benefits may occur within the next 12 months. At this time, however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and the impact on the Firm’s effective tax rate over the next 12 months.

Segment, Geographic and Revenue

Segment, Geographic and Revenue Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment, Geographic and Revenue Information	Segment, Geographic and Revenue Information Selected Financial Information by Business Segment Three Months Ended September 30, 2021 $ in millions IS WM IM I/E Total Investment banking $ 2,849 $ 186 $ — $ (22) $ 3,013 Trading 2,897 (58) 1 21 2,861 Investments 52 8 (15) — 45 Commissions and fees 1 664 704 — (88) 1,280 Asset management 1,2 145 3,628 1,470 (42) 5,201 Other 172 119 — (1) 290 Total non-interest revenues 6,779 4,587 1,456 (132) 12,690 Interest income 948 1,464 8 (69) 2,351 Interest expense 232 116 11 (71) 288 Net interest 716 1,348 (3) 2 2,063 Net revenues $ 7,495 $ 5,935 $ 1,453 $ (130) $ 14,753 Provision for credit losses $ 24 $ — $ — $ — $ 24 Compensation and benefits 2,248 3,159 513 — 5,920 Non-compensation expenses 2,250 1,246 570 (131) 3,935 Total non-interest expenses $ 4,498 $ 4,405 $ 1,083 $ (131) $ 9,855 Income before provision for income taxes $ 2,973 $ 1,530 $ 370 $ 1 $ 4,874 Provision for income taxes 713 373 64 — 1,150 Net income 2,260 1,157 306 1 3,724 Net income applicable to noncontrolling interests 31 — (14) — 17 Net income applicable to Morgan Stanley $ 2,229 $ 1,157 $ 320 $ 1 $ 3,707 Three Months Ended September 30, 2020 $ in millions IS WM IM I/E Total Investment banking $ 1,707 $ 135 $ — $ (16) $ 1,826 Trading 3 2,865 268 2 15 3,150 Investments 87 1 258 — 346 Commissions and fees 1 639 477 1 (80) 1,037 Asset management 1,2 114 2,793 795 (38) 3,664 Other 3 123 91 1 (3) 212 Total non-interest revenues 5,535 3,765 1,057 (122) 10,235 Interest income 1,086 1,065 7 (102) 2,056 Interest expense 492 176 8 (106) 570 Net interest 594 889 (1) 4 1,486 Net revenues 3 $ 6,129 $ 4,654 $ 1,056 $ (118) $ 11,721 Provision for credit losses 3 $ 113 $ (2) $ — $ — $ 111 Compensation and benefits 2,001 2,684 401 — 5,086 Non-compensation expenses 3 1,967 852 340 (122) 3,037 Total non-interest expenses 3 $ 3,968 $ 3,536 $ 741 $ (122) $ 8,123 Income before provision for income taxes $ 2,048 $ 1,120 $ 315 $ 4 $ 3,487 Provision for income taxes 385 278 72 1 736 Net income 1,663 842 243 3 2,751 Net income applicable to noncontrolling interests 16 — 18 — 34 Net income applicable to Morgan Stanley $ 1,647 $ 842 $ 225 $ 3 $ 2,717 Nine Months Ended September 30, 2021 $ in millions IS WM IM I/E Total Investment banking $ 7,838 $ 640 $ — $ (65) $ 8,413 Trading 10,048 323 (18) 63 10,416 Investments 199 24 521 — 744 Commissions and fees 1 2,216 2,269 1 (272) 4,214 Asset management 1,2 432 10,266 3,991 (117) 14,572 Other 467 479 (23) (7) 916 Total non-interest revenues 21,200 14,001 4,472 (398) 39,275 Interest income 2,791 4,316 26 (133) 7,000 Interest expense 827 328 29 (140) 1,044 Net interest 1,964 3,988 (3) 7 5,956 Net revenues $ 23,164 $ 17,989 $ 4,469 $ (391) $ 45,231 Provision for credit losses $ 1 $ (2) $ — $ — $ (1) Compensation and benefits 7,795 9,604 1,742 — 19,141 Non-compensation expenses 6,526 3,621 1,557 (397) 11,307 Total non-interest expenses $ 14,321 $ 13,225 $ 3,299 $ (397) $ 30,448 Income before provision for income taxes $ 8,842 $ 4,766 $ 1,170 $ 6 $ 14,784 Provision for income taxes 2,023 1,103 253 1 3,380 Net income 6,819 3,663 917 5 11,404 Net income applicable to noncontrolling interests 85 — (19) — 66 Net income applicable to Morgan Stanley $ 6,734 $ 3,663 $ 936 $ 5 $ 11,338 Nine Months Ended September 30, 2020 $ in millions IS WM IM I/E Total Investment banking $ 4,902 $ 403 $ — $ (66) $ 5,239 Trading 3 10,298 413 (13) 56 10,754 Investments 98 9 552 — 659 Commissions and fees 1 2,230 1,538 1 (270) 3,499 Asset management 1,2 342 7,980 2,144 (120) 10,346 Other 3 11 256 (39) (7) 221 Total non-interest revenues 17,881 10,599 2,645 (407) 30,718 Interest income 4,809 3,468 22 (382) 7,917 Interest expense 3,184 653 33 (395) 3,475 Net interest 1,625 2,815 (11) 13 4,442 Net revenues 3 $ 19,506 $ 13,414 $ 2,634 $ (394) $ 35,160 Provision for credit losses 3 $ 718 $ 39 $ — $ — $ 757 Compensation and benefits 6,767 7,625 1,012 — 15,404 Non-compensation expenses 3 6,030 2,433 948 (400) 9,011 Total non-interest expenses 3 $ 12,797 $ 10,058 $ 1,960 $ (400) $ 24,415 Income before provision for income taxes $ 5,991 $ 3,317 $ 674 $ 6 $ 9,988 Provision for income taxes 1,326 758 136 1 2,221 Net income 4,665 2,559 538 5 7,767 Net income applicable to noncontrolling interests 75 — 81 — 156 Net income applicable to Morgan Stanley $ 4,590 $ 2,559 $ 457 $ 5 $ 7,611 I/E–Intersegment Eliminations 1. Substantially all revenues are from contracts with customers. 2. Includes certain fees which may relate to services performed in prior periods. 3. Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information. For a discussion about the Firm’s business segments, see Note 23 to the financial statements in the 2020 Form 10-K. Detail of Investment Banking Revenues Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Institutional Securities Advisory $ 1,272 $ 357 $ 2,416 $ 1,181 Institutional Securities Underwriting 1,577 1,350 5,422 3,721 Firm Investment banking revenues from contracts with customers 91 % 95 % 91 % 92 % Trading Revenues by Product Type 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Interest rate $ (32) $ 511 $ 844 $ 2,593 Foreign exchange 253 138 841 603 Equity security and index 2 1,903 1,478 5,631 4,494 Commodity and other 538 553 2,079 1,286 Credit 199 470 1,021 1,778 Total $ 2,861 $ 3,150 $ 10,416 $ 10,754 1. Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information. 2. Dividend income is included within equity security and index contracts. The previous table summarizes realized and unrealized gains and losses, from derivative and non-derivative financial instruments, included in Trading revenues in the income statements. The Firm generally utilizes financial instruments across a variety of product types in connection with its market-making and related risk management strategies. The trading revenues presented in the table are not representative of the manner in which the Firm manages its business activities and are prepared in a manner similar to the presentation of trading revenues for regulatory reporting purposes. Investment Management Investments Revenues—Net Cumulative Unrealized Carried Interest $ in millions At At Net cumulative unrealized performance-based income at risk of reversing $ 774 $ 735 The Firm’s portion of net cumulative performance-based income in the form of unrealized carried interest, for which the Firm is not obligated to pay compensation, is at risk of reversing when the return in certain funds fall below specified performance targets. See Note 14 for information regarding general partner guarantees, which include potential obligations to return performance fee distributions previously received. Investment Management Asset Management Revenues—Reduction of Fees Due to Fee Waivers Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Fee waivers $ 139 $ 37 $ 364 $ 70 The Firm waives a portion of its fees in the Investment Management business segment from certain registered money market funds that comply with the requirements of Rule 2a-7 of the Investment Company Act of 1940. Certain Other Fee Waivers Separately, the Firm’s employees, including its senior officers, may participate on the same terms and conditions as other investors in certain funds that the Firm sponsors primarily for client investment, and the Firm may waive or lower applicable fees and charges for its employees. Other Expenses — Transaction Taxes Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Transaction taxes $ 262 $ 194 $ 717 $ 524 Transaction taxes are composed of securities transaction taxes and stamp duties, which are levied on the sale or purchase of securities listed on recognized stock exchanges in certain markets. These taxes are imposed mainly on trades of equity securities in Asia and EMEA. Similar transaction taxes are levied on trades of listed derivative instruments in certain countries. Net Revenues by Region 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Americas $ 11,255 $ 8,455 $ 33,331 $ 25,293 EMEA 1,752 1,472 6,004 4,778 Asia 1,746 1,794 5,896 5,089 Total $ 14,753 $ 11,721 $ 45,231 $ 35,160 1. Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information. For a discussion about the Firm’s geographic net revenues, see Note 23 to the financial statements in the 2020 Form 10-K. Revenues Recognized from Prior Services Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Non-interest revenues $ 1,308 $ 556 $ 1,862 $ 1,616 The previous table includes revenues from contracts with customers recognized where some or all services were performed in prior periods. For the three and nine months ended September 30, 2021 these revenues primarily include investment banking advisory fees, and for the three and nine months ended September 30, 2020, these revenues primarily include investment banking advisory fees and distribution fees. Receivables from Contracts with Customers $ in millions At At Customer and other receivables $ 3,592 $ 3,200 Receivables from contracts with customers, which are included within Customer and other receivables in the balance sheets, arise when the Firm has both recorded revenues and the right per the contract to bill the customer. Assets by Business Segment $ in millions At At Institutional Securities $ 808,252 $ 753,322 Wealth Management 364,634 355,595 Investment Management 17,590 6,945 Total 1 $ 1,190,476 $ 1,115,862

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Financial Information	Basis of Financial Information The financial statements are prepared in accordance with U.S. GAAP, which requires the Firm to make estimates and assumptions regarding the valuations of certain financial instruments, the valuations of goodwill and intangible assets, the outcome of legal and tax matters, deferred tax assets, ACL, and other matters that affect its financial statements and related disclosures. The Firm believes that the estimates utilized in the preparation of its financial statements are prudent and reasonable. Actual results could differ materially from these estimates. The financial statements reflect the effects of the following reclassifications to prior period amounts. The Provision for credit losses for loans and lending commitments is presented as a separate line in the income statements. Previously, the provision for credit losses for loans was included in Other revenues, and the provision for credit losses for lending commitments was included in Other expenses. In addition, economic hedges of certain held-for-sale and held-for-investment loans, which were previously reported in Trading revenues, are reported in Other revenues. The Notes are an integral part of the Firm’s financial statements. The Firm has evaluated subsequent events for adjustment to or disclosure in these financial statements through the date of this report and has not identified any recordable or disclosable events not otherwise reported in these financial statements or the notes thereto. The accompanying financial statements should be read in conjunction with the Firm’s financial statements and notes thereto included in the 2020 Form 10-K. Certain footnote disclosures included in the 2020 Form 10-K have been condensed or omitted from these financial statements as they are not required for interim reporting under U.S. GAAP. The financial statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for the fair presentation of the results for the interim period. The results of operations for interim periods are not necessarily indicative of results for the entire year.
Consolidation	Consolidation The financial statements include the accounts of the Firm, its wholly owned subsidiaries and other entities in which the Firm has a controlling financial interest, including certain VIEs (see Note 15). Intercompany balances and transactions have been eliminated. For consolidated subsidiaries that are not wholly owned, the third-party holdings of equity interests are referred to as Noncontrolling interests. The net income attributable to Noncontrolling interests for such subsidiaries is presented as Net income applicable to noncontrolling interests in the income statements. The portion of shareholders’ equity that is attributable to noncontrolling interests for such subsidiaries is presented as noncontrolling interests, a component of Total equity, in the balance sheets. For a discussion of the Firm’s significant regulated U.S. and international subsidiaries and its involvement with VIEs, see Note 1 to the financial statements in the 2020 Form 10-K.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Schedule of Preliminary Purchase Price Allocation	Eaton Vance Purchase Price Allocation $ in millions At Assets Cash and cash equivalents $ 691 Trading assets at fair value: Loans and lending commitments 445 Investments 299 Corporate and other debt 52 Customer and other receivables 331 Goodwill 5,270 Intangible assets 3,956 Other assets 836 Total assets $ 11,880 Liabilities Other secured financings $ 399 Other liabilities and accrued expenses 2,147 Borrowings 678 Total liabilities $ 3,224
Schedule of Acquired Intangible Assets	Acquired Intangible Assets $ in millions Weighted At Non-amortizable Management contracts indefinite $ 2,120 Amortizable Customer relationships 16 1,455 Tradenames 23 221 Management contracts 16 160 Total acquired Intangible assets $ 3,956
Schedule of Proforma Combined Financial Information (Unaudited)	Eaton Vance Results Included in the Firm’s Consolidated Results $ in millions Three Months Ended Nine Months Ended September 30, 2021 1 Net revenues $ 549 $ 1,258 Net income 137 287 1. Reflects Eaton Vance results from March 1, 2021 through September 30, 2021. Morgan Stanley and Eaton Vance Proforma Combined Financial Information Three Months Ended Nine Months Ended $ in millions 2021 1 2020 2021 2020 Net revenues $ 14,753 $ 12,072 $ 45,527 $ 36,313 Net income 3,724 2,729 11,504 7,420 1. Amounts are the same as those presented in the Consolidated Income Statement for the current quarter.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	$ in millions At At Cash and due from banks $ 10,216 $ 9,792 Interest bearing deposits with banks 113,647 95,862 Total Cash and cash equivalents $ 123,863 $ 105,654 Restricted cash $ 43,829 $ 38,202

Fair Values (Tables)

Fair Values (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and Liabilities Measured at Fair Value on a Recurring Basis At September 30, 2021 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Assets at fair value Trading assets: U.S. Treasury and agency securities $ 44,238 $ 26,312 $ 4 $ — $ 70,554 Other sovereign government obligations 32,668 5,246 127 — 38,041 State and municipal securities — 1,960 — — 1,960 MABS — 1,249 366 — 1,615 Loans and lending commitments 2 — 10,611 4,304 — 14,915 Corporate and other debt — 31,242 1,563 — 32,805 Corporate equities 3 100,903 1,126 214 — 102,243 Derivative and other contracts: Interest rate 3,382 158,164 1,311 — 162,857 Credit — 9,063 510 — 9,573 Foreign exchange 32 73,464 147 — 73,643 Equity 1,211 69,495 464 — 71,170 Commodity and other 12,547 27,294 2,882 — 42,723 Netting 1 (15,382) (248,815) (869) (51,501) (316,567) Total derivative and other contracts 1,790 88,665 4,445 (51,501) 43,399 Investments 4 795 648 781 — 2,224 Physical commodities — 3,049 — — 3,049 Total trading assets 4 180,394 170,108 11,804 (51,501) 310,805 Investment securities—AFS 55,839 45,755 — — 101,594 Securities purchased under agreements to resell — 7 — — 7 Total assets at fair value $ 236,233 $ 215,870 $ 11,804 $ (51,501) $ 412,406 At September 30, 2021 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Liabilities at fair value Deposits $ — $ 1,948 $ 62 $ — $ 2,010 Trading liabilities: U.S. Treasury and agency securities 19,623 1,142 — — 20,765 Other sovereign government obligations 23,194 1,814 3 — 25,011 Corporate and other debt — 10,565 5 — 10,570 Corporate equities 3 74,549 314 34 — 74,897 Derivative and other contracts: Interest rate 3,251 148,188 515 — 151,954 Credit — 9,671 544 — 10,215 Foreign exchange 35 69,491 50 — 69,576 Equity 1,477 80,045 1,464 — 82,986 Commodity and other 12,445 23,170 1,573 — 37,188 Netting 1 (15,382) (248,815) (869) (48,137) (313,203) Total derivative and other contracts 1,826 81,750 3,277 (48,137) 38,716 Total trading liabilities 119,192 95,585 3,319 (48,137) 169,959 Securities sold under agreements to repurchase — 480 448 — 928 Other secured financings — 5,219 395 — 5,614 Borrowings — 73,696 2,056 — 75,752 Total liabilities at fair value $ 119,192 $ 176,928 $ 6,280 $ (48,137) $ 254,263 At December 31, 2020 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Assets at fair value Trading assets: U.S. Treasury and agency securities $ 43,084 $ 31,524 $ 9 $ — $ 74,617 Other sovereign government obligations 26,174 5,048 268 — 31,490 State and municipal securities — 1,135 — — 1,135 MABS — 1,070 322 — 1,392 Loans and lending commitments 2 — 5,389 5,759 — 11,148 Corporate and other debt — 30,093 3,435 — 33,528 Corporate equities 3 111,575 1,142 86 — 112,803 Derivative and other contracts: Interest rate 4,458 227,818 1,210 — 233,486 Credit — 6,840 701 — 7,541 Foreign exchange 29 93,770 260 — 94,059 Equity 1,132 65,943 1,369 — 68,444 Commodity and other 1,818 10,108 2,723 — 14,649 Netting 1 (5,488) (310,534) (1,351) (62,956) (380,329) Total derivative and other contracts 1,949 93,945 4,912 (62,956) 37,850 Investments 4 624 234 828 — 1,686 Physical commodities — 3,260 — — 3,260 Total trading assets 4 183,406 172,840 15,619 (62,956) 308,909 Investment securities—AFS 46,354 61,225 2,804 — 110,383 Securities purchased under agreements to resell — 12 3 — 15 Total assets at fair value $ 229,760 $ 234,077 $ 18,426 $ (62,956) $ 419,307 At December 31, 2020 $ in millions Level 1 Level 2 Level 3 Netting 1 Total Liabilities at fair value Deposits $ — $ 3,395 $ 126 $ — $ 3,521 Trading liabilities: U.S. Treasury and agency securities 10,204 1 — — 10,205 Other sovereign government obligations 24,209 1,738 16 — 25,963 Corporate and other debt — 8,468 — — 8,468 Corporate equities 3 67,822 172 63 — 68,057 Derivative and other contracts: Interest rate 4,789 213,321 528 — 218,638 Credit — 7,500 652 — 8,152 Foreign exchange 11 94,698 199 — 94,908 Equity 1,245 81,683 3,600 — 86,528 Commodity and other 1,758 9,418 1,014 — 12,190 Netting 1 (5,488) (310,534) (1,351) (58,105) (375,478) Total derivative and other contracts 2,315 96,086 4,642 (58,105) 44,938 Total trading liabilities 104,550 106,465 4,721 (58,105) 157,631 Securities sold under agreements to repurchase — 671 444 — 1,115 Other secured financings — 11,185 516 — 11,701 Borrowings — 69,327 4,374 — 73,701 Total liabilities at fair value $ 104,550 $ 191,043 $ 10,181 $ (58,105) $ 247,669 MABS—Mortgage- and asset-backed securities 1. For positions with the same counterparty that cross over the levels of the fair value hierarchy, both counterparty netting and cash collateral netting are included in the column titled “Netting.” Positions classified within the same level that are with the same counterparty are netted within that level. For further information on derivative instruments and hedging activities, see Note 7. 2. For a further breakdown by type, see the following Detail of Loans and Lending Commitments at Fair Value table. 3. For trading purposes, the Firm holds or sells short equity securities issued by entities in diverse industries and of varying sizes.
Schedule of Details of Loans and Lending Commitments at Fair Value	Detail of Loans and Lending Commitments at Fair Value $ in millions At At Corporate $ 13 $ 13 Secured lending facilities 350 648 Commercial Real Estate 2,418 916 Residential Real Estate 3,118 2,145 Securities-based lending and Other loans 9,016 7,426 Total $ 14,915 $ 11,148
Schedule of Unsettled Fair Value of Futures Contracts	Unsettled Fair Value of Futures Contracts 1 $ in millions At At Customer and other receivables (payables), net $ (26) $ 434 1. These contracts are primarily Level 1, actively traded, valued based on quoted prices from the exchange and are excluded from the previous recurring fair value tables.
Schedule of Rollforward of Level 3 Assets Measured at Fair Value on a Recurring Basis	Rollforward of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 U.S. Treasury and agency securities Beginning balance $ 25 $ 97 $ 9 $ 22 Realized and unrealized gains (losses) (1) (1) — — Purchases 4 109 28 133 Sales (24) (36) (33) (42) Net transfers — (47) — 9 Ending balance $ 4 $ 122 $ 4 $ 122 Unrealized gains (losses) $ (1) $ (1) $ — $ — Other sovereign government obligations Beginning balance $ 78 $ 11 $ 268 $ 5 Realized and unrealized gains (losses) (3) (1) (1) — Purchases 59 1 129 8 Sales (4) (1) (269) (3) Net transfers (3) — — — Ending balance $ 127 $ 10 $ 127 $ 10 Unrealized gains (losses) $ (3) $ — $ — $ — State and municipal securities Beginning balance $ 4 $ — $ — $ 1 Purchases — — 4 — Sales (4) — (4) — Net transfers — — — (1) Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — MABS Beginning balance $ 357 $ 379 $ 322 $ 438 Realized and unrealized gains (losses) 11 13 67 (60) Purchases 96 13 263 172 Sales (23) (54) (216) (162) Net transfers (75) 92 (70) 55 Ending balance $ 366 $ 443 $ 366 $ 443 Unrealized gains (losses) $ 11 $ 8 $ 8 $ (35) Loans and lending commitments Beginning balance $ 4,896 $ 4,068 $ 5,759 $ 5,073 Realized and unrealized gains (losses) 47 20 33 (161) Purchases and originations 1,373 846 2,467 1,926 Sales (768) (725) (2,314) (1,139) Settlements (414) (285) (1,082) (1,907) Net transfers 1 (830) 427 (559) 559 Ending balance $ 4,304 $ 4,351 $ 4,304 $ 4,351 Unrealized gains (losses) $ 21 $ 27 $ (5) $ (137) Corporate and other debt Beginning balance $ 1,801 $ 2,686 $ 3,435 $ 1,396 Realized and unrealized gains (losses) 173 (107) (151) (184) Purchases and originations 639 451 1,505 2,217 Sales (594) (325) (1,698) (425) Settlements — — — (311) Net transfers 2 (456) 22 (1,528) 34 Ending balance $ 1,563 $ 2,727 $ 1,563 $ 2,727 Unrealized gains (losses) $ 173 $ (96) $ 10 $ (186) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Corporate equities Beginning balance $ 150 $ 83 $ 86 $ 97 Realized and unrealized gains (losses) 4 32 (15) — Purchases 83 32 367 42 Sales (7) (27) (193) (27) Net transfers (16) 15 (31) 23 Ending balance $ 214 $ 135 $ 214 $ 135 Unrealized gains (losses) $ 4 $ 39 $ (5) $ 14 Investments Beginning balance $ 978 $ 759 $ 828 $ 858 Realized and unrealized gains (losses) 18 55 58 (6) Purchases 59 7 150 37 Sales (23) (16) (46) (37) Net transfers (251) 16 (209) (31) Ending balance $ 781 $ 821 $ 781 $ 821 Unrealized gains (losses) $ 13 $ 44 $ 39 $ (19) Investment securities —AFS Beginning balance $ — $ — $ 2,804 $ — Realized and unrealized gains (losses) — — (4) — Sales — — (203) — Net transfers 3 — — (2,597) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Securities purchased under agreements to resell Beginning balance $ — $ — $ 3 $ — Net transfers — — (3) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Net derivatives: Interest rate Beginning balance $ 668 $ 760 $ 682 $ 777 Realized and unrealized gains (losses) 70 (147) (223) (95) Purchases 22 36 48 153 Issuances (9) (15) (41) (41) Settlements 18 (31) 101 36 Net transfers 27 33 229 (194) Ending balance $ 796 $ 636 $ 796 $ 636 Unrealized gains (losses) $ 165 $ (139) $ (168) $ (37) Net derivatives: Credit Beginning balance $ (203) $ 131 $ 49 $ 124 Realized and unrealized gains (losses) 59 (16) (2) 11 Purchases 12 17 23 66 Issuances (19) (51) (44) (101) Settlements 102 10 16 61 Net transfers 15 25 (76) (45) Ending balance $ (34) $ 116 $ (34) $ 116 Unrealized gains (losses) $ (26) $ (16) $ — $ 2 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Net derivatives: Foreign exchange Beginning balance $ 33 $ 17 $ 61 $ (31) Realized and unrealized gains (losses) 32 86 41 202 Purchases 12 — 19 3 Issuances (15) (4) (21) (5) Settlements 46 (9) (45) (27) Net transfers (11) 9 42 (43) Ending balance $ 97 $ 99 $ 97 $ 99 Unrealized gains (losses) $ 29 $ 75 $ 73 $ 136 Net derivatives: Equity Beginning balance $ (837) $ (1,884) $ (2,231) $ (1,684) Realized and unrealized gains (losses) (45) 3 366 75 Purchases 24 19 69 192 Issuances (122) (181) (362) (706) Settlements (3) (151) (196) (167) Net transfers 2 (17) 49 1,354 145 Ending balance $ (1,000) $ (2,145) $ (1,000) $ (2,145) Unrealized gains (losses) $ (96) $ 32 $ (57) $ (143) Net derivatives: Commodity and other Beginning balance $ 1,430 $ 2,087 $ 1,709 $ 1,612 Realized and unrealized gains (losses) (167) (29) 43 373 Purchases 44 1 324 26 Issuances (31) (40) (137) (65) Settlements (97) (181) (371) (101) Net transfers 130 (34) (259) (41) Ending balance $ 1,309 $ 1,804 $ 1,309 $ 1,804 Unrealized gains (losses) $ (96) $ (251) $ (243) $ (6) Deposits Beginning balance $ 86 $ 90 $ 126 $ 179 Realized and unrealized losses (gains) (1) 4 1 8 Settlements (4) (2) (12) (13) Net transfers (19) 13 (53) (69) Ending balance $ 62 $ 105 $ 62 $ 105 Unrealized losses (gains) $ (1) $ 4 $ 1 $ 8 Nonderivative trading liabilities Beginning balance $ 59 $ 74 $ 79 $ 37 Realized and unrealized losses (gains) (11) (6) (20) (21) Purchases (16) (7) (88) (23) Sales 11 5 83 23 Settlements — — — 3 Net transfers (1) (6) (12) 41 Ending balance $ 42 $ 60 $ 42 $ 60 Unrealized losses (gains) $ (11) $ (4) $ 1 $ (21) Securities sold under agreements to repurchase Beginning balance $ 449 $ 440 $ 444 $ — Realized and unrealized losses (gains) (1) 8 5 (22) Issuances — — — 470 Net transfers — — (1) — Ending balance $ 448 $ 448 $ 448 $ 448 Unrealized losses (gains) $ (1) $ 8 $ 5 $ (22) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Other secured financings Beginning balance $ 401 $ 300 $ 516 $ 109 Realized and unrealized losses (gains) (17) 11 (14) (1) Issuances 14 3 421 10 Settlements (3) (5) (500) (208) Net transfers — — (28) 399 Ending balance $ 395 $ 309 $ 395 $ 309 Unrealized losses (gains) $ (17) $ 11 $ (13) $ (1) Borrowings Beginning balance $ 1,975 $ 4,135 $ 4,374 $ 4,088 Realized and unrealized losses (gains) (87) (32) (37) (284) Issuances 197 194 411 992 Settlements (67) (70) (347) (346) Net transfers 2 38 (146) (2,345) (369) Ending balance $ 2,056 $ 4,081 $ 2,056 $ 4,081 Unrealized losses (gains) $ (86) $ (33) $ (8) $ (282) Portion of Unrealized losses (gains) recorded in OCI—Change in net DVA (4) 22 (18) (124) 1. Net transfers in the current quarter reflect the transfer of $895 million of equity margin loans from Level 3 to Level 2 as a result of the reduced significance of the margin loan rate input. N et transfers in the prior year periods reflect the largely offsetting impacts of equity margin loan transfers of $857 million into Level 3 in the first quarter of the prior year and $707 million out of Level 3 in the second quarter of the prior year, both driven by changes in the significance level of the margin loan rate input based on changes in liquidity conditions. 2. Net transfers in the current year period reflect the transfer in the second quarter of $2.0 billion of Corporate and Other Debt, $1.0 billion of net Equity derivatives, and $2.2 billion of Borrowings from Level 3 to Level 2 as the unobservable inputs were not significant to the overall fair value measurements. 3. Net transfers in the current year period reflect the transfer in the first quarter of $2.5 billion of AFS securities from Level 3 to Level 2 due to increased trading activity and observability of pricing inputs.
Schedule of Rollforward of Level 3 Liabilities Measured at Fair Value on a Recurring Basis	Rollforward of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 U.S. Treasury and agency securities Beginning balance $ 25 $ 97 $ 9 $ 22 Realized and unrealized gains (losses) (1) (1) — — Purchases 4 109 28 133 Sales (24) (36) (33) (42) Net transfers — (47) — 9 Ending balance $ 4 $ 122 $ 4 $ 122 Unrealized gains (losses) $ (1) $ (1) $ — $ — Other sovereign government obligations Beginning balance $ 78 $ 11 $ 268 $ 5 Realized and unrealized gains (losses) (3) (1) (1) — Purchases 59 1 129 8 Sales (4) (1) (269) (3) Net transfers (3) — — — Ending balance $ 127 $ 10 $ 127 $ 10 Unrealized gains (losses) $ (3) $ — $ — $ — State and municipal securities Beginning balance $ 4 $ — $ — $ 1 Purchases — — 4 — Sales (4) — (4) — Net transfers — — — (1) Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — MABS Beginning balance $ 357 $ 379 $ 322 $ 438 Realized and unrealized gains (losses) 11 13 67 (60) Purchases 96 13 263 172 Sales (23) (54) (216) (162) Net transfers (75) 92 (70) 55 Ending balance $ 366 $ 443 $ 366 $ 443 Unrealized gains (losses) $ 11 $ 8 $ 8 $ (35) Loans and lending commitments Beginning balance $ 4,896 $ 4,068 $ 5,759 $ 5,073 Realized and unrealized gains (losses) 47 20 33 (161) Purchases and originations 1,373 846 2,467 1,926 Sales (768) (725) (2,314) (1,139) Settlements (414) (285) (1,082) (1,907) Net transfers 1 (830) 427 (559) 559 Ending balance $ 4,304 $ 4,351 $ 4,304 $ 4,351 Unrealized gains (losses) $ 21 $ 27 $ (5) $ (137) Corporate and other debt Beginning balance $ 1,801 $ 2,686 $ 3,435 $ 1,396 Realized and unrealized gains (losses) 173 (107) (151) (184) Purchases and originations 639 451 1,505 2,217 Sales (594) (325) (1,698) (425) Settlements — — — (311) Net transfers 2 (456) 22 (1,528) 34 Ending balance $ 1,563 $ 2,727 $ 1,563 $ 2,727 Unrealized gains (losses) $ 173 $ (96) $ 10 $ (186) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Corporate equities Beginning balance $ 150 $ 83 $ 86 $ 97 Realized and unrealized gains (losses) 4 32 (15) — Purchases 83 32 367 42 Sales (7) (27) (193) (27) Net transfers (16) 15 (31) 23 Ending balance $ 214 $ 135 $ 214 $ 135 Unrealized gains (losses) $ 4 $ 39 $ (5) $ 14 Investments Beginning balance $ 978 $ 759 $ 828 $ 858 Realized and unrealized gains (losses) 18 55 58 (6) Purchases 59 7 150 37 Sales (23) (16) (46) (37) Net transfers (251) 16 (209) (31) Ending balance $ 781 $ 821 $ 781 $ 821 Unrealized gains (losses) $ 13 $ 44 $ 39 $ (19) Investment securities —AFS Beginning balance $ — $ — $ 2,804 $ — Realized and unrealized gains (losses) — — (4) — Sales — — (203) — Net transfers 3 — — (2,597) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Securities purchased under agreements to resell Beginning balance $ — $ — $ 3 $ — Net transfers — — (3) — Ending balance $ — $ — $ — $ — Unrealized gains (losses) $ — $ — $ — $ — Net derivatives: Interest rate Beginning balance $ 668 $ 760 $ 682 $ 777 Realized and unrealized gains (losses) 70 (147) (223) (95) Purchases 22 36 48 153 Issuances (9) (15) (41) (41) Settlements 18 (31) 101 36 Net transfers 27 33 229 (194) Ending balance $ 796 $ 636 $ 796 $ 636 Unrealized gains (losses) $ 165 $ (139) $ (168) $ (37) Net derivatives: Credit Beginning balance $ (203) $ 131 $ 49 $ 124 Realized and unrealized gains (losses) 59 (16) (2) 11 Purchases 12 17 23 66 Issuances (19) (51) (44) (101) Settlements 102 10 16 61 Net transfers 15 25 (76) (45) Ending balance $ (34) $ 116 $ (34) $ 116 Unrealized gains (losses) $ (26) $ (16) $ — $ 2 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Net derivatives: Foreign exchange Beginning balance $ 33 $ 17 $ 61 $ (31) Realized and unrealized gains (losses) 32 86 41 202 Purchases 12 — 19 3 Issuances (15) (4) (21) (5) Settlements 46 (9) (45) (27) Net transfers (11) 9 42 (43) Ending balance $ 97 $ 99 $ 97 $ 99 Unrealized gains (losses) $ 29 $ 75 $ 73 $ 136 Net derivatives: Equity Beginning balance $ (837) $ (1,884) $ (2,231) $ (1,684) Realized and unrealized gains (losses) (45) 3 366 75 Purchases 24 19 69 192 Issuances (122) (181) (362) (706) Settlements (3) (151) (196) (167) Net transfers 2 (17) 49 1,354 145 Ending balance $ (1,000) $ (2,145) $ (1,000) $ (2,145) Unrealized gains (losses) $ (96) $ 32 $ (57) $ (143) Net derivatives: Commodity and other Beginning balance $ 1,430 $ 2,087 $ 1,709 $ 1,612 Realized and unrealized gains (losses) (167) (29) 43 373 Purchases 44 1 324 26 Issuances (31) (40) (137) (65) Settlements (97) (181) (371) (101) Net transfers 130 (34) (259) (41) Ending balance $ 1,309 $ 1,804 $ 1,309 $ 1,804 Unrealized gains (losses) $ (96) $ (251) $ (243) $ (6) Deposits Beginning balance $ 86 $ 90 $ 126 $ 179 Realized and unrealized losses (gains) (1) 4 1 8 Settlements (4) (2) (12) (13) Net transfers (19) 13 (53) (69) Ending balance $ 62 $ 105 $ 62 $ 105 Unrealized losses (gains) $ (1) $ 4 $ 1 $ 8 Nonderivative trading liabilities Beginning balance $ 59 $ 74 $ 79 $ 37 Realized and unrealized losses (gains) (11) (6) (20) (21) Purchases (16) (7) (88) (23) Sales 11 5 83 23 Settlements — — — 3 Net transfers (1) (6) (12) 41 Ending balance $ 42 $ 60 $ 42 $ 60 Unrealized losses (gains) $ (11) $ (4) $ 1 $ (21) Securities sold under agreements to repurchase Beginning balance $ 449 $ 440 $ 444 $ — Realized and unrealized losses (gains) (1) 8 5 (22) Issuances — — — 470 Net transfers — — (1) — Ending balance $ 448 $ 448 $ 448 $ 448 Unrealized losses (gains) $ (1) $ 8 $ 5 $ (22) Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Other secured financings Beginning balance $ 401 $ 300 $ 516 $ 109 Realized and unrealized losses (gains) (17) 11 (14) (1) Issuances 14 3 421 10 Settlements (3) (5) (500) (208) Net transfers — — (28) 399 Ending balance $ 395 $ 309 $ 395 $ 309 Unrealized losses (gains) $ (17) $ 11 $ (13) $ (1) Borrowings Beginning balance $ 1,975 $ 4,135 $ 4,374 $ 4,088 Realized and unrealized losses (gains) (87) (32) (37) (284) Issuances 197 194 411 992 Settlements (67) (70) (347) (346) Net transfers 2 38 (146) (2,345) (369) Ending balance $ 2,056 $ 4,081 $ 2,056 $ 4,081 Unrealized losses (gains) $ (86) $ (33) $ (8) $ (282) Portion of Unrealized losses (gains) recorded in OCI—Change in net DVA (4) 22 (18) (124) 1. Net transfers in the current quarter reflect the transfer of $895 million of equity margin loans from Level 3 to Level 2 as a result of the reduced significance of the margin loan rate input. N et transfers in the prior year periods reflect the largely offsetting impacts of equity margin loan transfers of $857 million into Level 3 in the first quarter of the prior year and $707 million out of Level 3 in the second quarter of the prior year, both driven by changes in the significance level of the margin loan rate input based on changes in liquidity conditions. 2. Net transfers in the current year period reflect the transfer in the second quarter of $2.0 billion of Corporate and Other Debt, $1.0 billion of net Equity derivatives, and $2.2 billion of Borrowings from Level 3 to Level 2 as the unobservable inputs were not significant to the overall fair value measurements. 3. Net transfers in the current year period reflect the transfer in the first quarter of $2.5 billion of AFS securities from Level 3 to Level 2 due to increased trading activity and observability of pricing inputs.
Schedule of Valuation Techniques and Unobservable Inputs	Valuation Techniques and Unobservable Inputs Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Assets at Fair Value on a Recurring Basis Other sovereign government obligations $ 127 $ 268 Comparable pricing: Bond price 96 to 152 points (125 points) 106 points MABS $ 366 $ 322 Comparable pricing: Bond price 0 to 86 points (53 points) 0 to 80 points (50 points) Loans and lending $ 4,304 $ 5,759 Margin loan model: Margin loan rate 1% to 4% (3%) 1% to 5% (3%) Comparable pricing: Loan price 91 to 102 points (99 points) 75 to 102 points (93 points) Corporate and $ 1,563 $ 3,435 Comparable pricing: Bond price 90 to 110 points (99 points) 10 to 133 points (101 points) Discounted cash flow: Recovery rate 40% to 62% (46% / 40%) 40% to 62% (46% / 40%) Option model: Equity volatility 22% to 134% (70%) 18% to 21% (19%) Corporate equities $ 214 $ 86 Comparable pricing: Equity price 100% 100% Investments $ 781 $ 828 Discounted cash flow: WACC 10% to 16% (15%) 8% to 18% (15%) Exit multiple 8 to 17 times (12 times) 7 to 17 times (12 times) Market approach: EBITDA multiple 8 to 29 times (10 times) 8 to 32 times (11 times) Comparable pricing: Equity price 43% to 100% (99%) 45% to 100% (99%) Investment securities —AFS $ — $ 2,804 Comparable pricing: Bond price N/A 97 to 107 points (101 points) Net derivative and other contracts: Interest rate $ 796 $ 682 Option model: IR volatility skew 33% to 99% (60% / 59%) 0% to 349% (62% / 59%) IR curve correlation 65% to 98% (83% / 83%) 54% to 99% (87% / 89%) Bond volatility 5% to 14% (7% / 6%) 6% to 24% (13% / 13%) Inflation volatility 25% to 65% (45% / 43%) 25% to 66% (45% / 43%) IR curve 2% 1% Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Credit $ (34) $ 49 Credit default swap model: Cash-synthetic basis 7 points 7 points Bond price 0 to 83 points (46 points) 0 to 85 points (47 points) Credit spread 14 to 463 bps (74 bps) 20 to 435 bps (74 bps) Funding spread 18 to 95 bps (60 bps) 65 to 118 bps (86 bps) Correlation model: Credit correlation 23% to 39% (26%) 27% to 44% (32%) Foreign exchange 2 $ 97 $ 61 Option model: IR - FX correlation 53% to 57% (55% 55%) 55% to 59% (56% / 56%) IR volatility skew 33% to 99% (60% / 59%) 0% to 349% (62% / 59%) IR curve 7% 6% to 8% (7% / 8%) Foreign exchange volatility skew -4% to -2% (-3% / -3%) -22% to 28% (3% / 1%) Contingency probability 95% 50% to 95% (83% / 93%) Equity 2 $ (1,000) $ (2,231) Option model: Equity volatility 5% to 92% (23%) 16% to 97% (43%) Equity volatility skew -4% to 0% (-1%) -3% to 0% (-1%) Equity correlation 5% to 99% (74%) 24% to 96% (74%) FX correlation -85% to 50% (-33%) -79% to 60% (-16%) IR correlation -13% to 35% (15%) -13% to 47% (21% / 20%) Commodity and other $ 1,309 $ 1,709 Option model: Forward power price $1 to $248 ($39) per MWh $-1 to $157 ($28) per MWh Commodity volatility 8% to 212% (24%) 8% to 183% (19%) Cross-commodity correlation 43% to 100% (94%) 43% to 99% (92%) Liabilities Measured at Fair Value on a Recurring Basis Deposits $ 62 $ 126 Option model: Equity volatility 7% 7% to 22% (8%) Nonderivative trading liabilities $ 34 $ 63 Comparable pricing: Equity price 100% 100% Securities sold under agreements to repurchase $ 448 $ 444 Discounted cash flow: Funding spread 116 to 122 bps (119 bps) 107 to 127 bps (115 bps) Other secured financings $ 395 $ 516 Discounted cash flow: Funding spread N/A 111 bps (111 bps) Comparable pricing: Loan price 30 to 100 points (83 points) 30 to 101 points (56 points) Balance / Range (Average 1 ) $ in millions, except inputs At September 30, 2021 At December 31, 2020 Borrowings $ 2,056 $ 4,374 Option model: Equity volatility 7% to 51% (19%) 6% to 66% (23%) Equity volatility skew -1% to 0% (0%) -2% to 0% (0%) Equity correlation 39% to 98% (91%) 37% to 95% (78%) Equity - FX correlation -60% to 10% (-16%) -72% to 13% (-24%) IR FX Correlation -27% to 7% (-5% / -5%) -28% to 6% (-6% / -6%) Discounted cash flow: Recovery rate 40% to 62% (46% / 40%) N/M Nonrecurring Fair Value Measurement Loans $ 1,603 $ 3,134 Corporate loan model: Credit spread 95 to 562 bps (298 bps) 36 to 636 bps (336 bps) Comparable pricing: Loan price 48 to 80 points (63 points) N/M Warehouse model: Credit spread 197 to 450 bps (374 bps) 200 to 413 bps (368 bps) Comparable pricing: Bond Price N/A 88 to 99 bps (94 bps) Points—Percentage of par IR—Interest rate FX—Foreign exchange 1. A single amount is disclosed for range and average when there is no significant difference between the minimum, maximum and average. Amounts represent weighted averages except where simple averages and the median of the inputs are more relevant. 2. Includes derivative contracts with multiple risks ( i.e. , hybrid products).
Schedule of Net Asset Value Measurements	Fund Interests At September 30, 2021 At December 31, 2020 $ in millions Carrying Value Commitment Carrying Value Commitment Private equity $ 2,430 $ 640 $ 2,367 $ 644 Real estate 1,747 255 1,403 136 Hedge 1 179 3 59 — Total $ 4,356 $ 898 $ 3,829 $ 780 1. Investments in hedge funds may be subject to initial period lock-up or gate provisions, which restrict an investor from withdrawing from the fund during a certain initial period or restrict the redemption amount on any redemption date, respectively. Nonredeemable Funds by Contractual Maturity Carrying Value at September 30, 2021 $ in millions Private Equity Real Estate Less than 5 years $ 1,094 $ 408 5-10 years 1,094 678 Over 10 years 242 661 Total $ 2,430 $ 1,747
Schedule of Nonrecurring Fair Value Measurements	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At September 30, 2021 Fair Value $ in millions Level 2 Level 3 1 Total Assets Loans $ 3,310 $ 1,603 $ 4,913 Other assets—Other investments — 76 76 Total $ 3,310 $ 1,679 $ 4,989 Liabilities Other liabilities and accrued expenses—Lending commitments $ 156 $ 67 $ 223 Total $ 156 $ 67 $ 223 At December 31, 2020 Fair Value $ in millions Level 2 Level 3 1 Total Assets Loans $ 2,566 $ 3,134 $ 5,700 Other assets—Other investments — 16 16 Other assets—ROU assets 21 — 21 Total $ 2,587 $ 3,150 $ 5,737 Liabilities Other liabilities and accrued expenses—Lending commitments $ 193 $ 72 $ 265 Total $ 193 $ 72 $ 265 1. For significant Level 3 balances, refer to “Significant Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements” section herein for details of the significant unobservable inputs used for nonrecurring fair value measurement. Gains (Losses) from Nonrecurring Fair Value Remeasurements 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Assets Loans 2 $ (22) $ (43) $ (75) $ (467) Goodwill — — (8) — Intangibles — (1) (3) (1) Other assets— Other investments 3 (2) (2) (55) (54) Other assets—Premises, equipment and software 4 (10) (29) (14) (35) Total $ (34) $ (75) $ (155) $ (557) Liabilities Other liabilities and accrued expenses—Lending commitments 2 $ (2) $ 25 $ 34 $ (54) Total $ (2) $ 25 $ 34 $ (54) 1. Gains and losses for Loans and Other assets—Other investments are classified in Other revenues. For other items, gains and losses are recorded in Other revenues if the item is held for sale; otherwise, they are recorded in Other expenses. 2. Nonrecurring changes in the fair value of loans and lending commitments were calculated as follows: for the held-for-investment category, based on the value of the underlying collateral; and for the held-for-sale category, based on recently executed transactions, market price quotations, valuation models that incorporate market observable inputs where possible, such as comparable loan or debt prices and CDS spread levels adjusted for any basis difference between cash and derivative instruments, or default recovery analysis where such transactions and quotations are unobservable. 3. Losses related to Other assets—Other investments were determined using techniques that included discounted cash flow models, methodologies that incorporate multiples of certain comparable companies and recently executed transactions.
Schedule of Financial Instruments Not Measured at Fair Value	Financial Instruments Not Measured at Fair Value At September 30, 2021 Carrying Fair Value $ in millions Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 123,863 $ 123,863 $ — $ — $ 123,863 Investment securities—HTM 81,837 30,726 50,380 982 82,088 Securities purchased under agreements to resell 119,714 — 117,863 1,868 119,731 Securities borrowed 125,922 — 125,923 — 125,923 Customer and other receivables 95,022 — 91,571 3,349 94,920 Loans 1 173,359 — 23,242 151,341 174,583 Other assets 528 — 528 — 528 Financial liabilities Deposits $ 327,031 $ — $ 327,384 $ — $ 327,384 Securities sold under agreements to repurchase 61,059 — 61,100 — 61,100 Securities loaned 11,133 — 11,131 — 11,131 Other secured financings 4,658 — 4,659 — 4,659 Customer and other payables 240,293 — 240,293 — 240,293 Borrowings 154,010 — 160,131 4 160,135 Commitment Lending commitments 2 $ 136,040 $ — $ 682 $ 423 $ 1,105 At December 31, 2020 Carrying Fair Value $ in millions Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 105,654 $ 105,654 $ — $ — $ 105,654 Investment securities—HTM 71,771 31,239 42,281 900 74,420 Securities purchased under agreements to resell 116,219 — 114,046 2,173 116,219 Securities borrowed 112,391 — 112,392 — 112,392 Customer and other receivables 92,907 — 89,832 3,041 92,873 Loans 1 150,597 — 16,635 135,277 151,912 Other assets 485 — 485 — 485 Financial liabilities Deposits $ 307,261 $ — $ 307,807 $ — $ 307,807 Securities sold under agreements to repurchase 49,472 — 49,315 195 49,510 Securities loaned 7,731 — 7,731 — 7,731 Other secured financings 4,162 — 4,162 — 4,162 Customer and other payables 224,951 — 224,951 — 224,951 Borrowings 143,378 — 150,824 5 150,829 Commitment Lending commitments 2 $ 125,498 $ — $ 709 $ 395 $ 1,104 1. Amounts include loans measured at fair value on a nonrecurring basis. 2. Represents Lending commitments accounted for as Held for Investment and Held for Sale. For a further discussion on lending commitments, see Note 14.

Fair Value Option (Tables)

Fair Value Option (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Option	$ in millions At At Business Unit Responsible for Risk Management Equity $ 35,708 $ 33,952 Interest rates 29,213 31,222 Commodities 7,968 5,078 Credit 1,274 1,344 Foreign exchange 1,589 2,105 Total $ 75,752 $ 73,701 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Trading revenues $ 1,383 $ (1,455) $ 937 $ (1,447) Interest expense 77 77 234 241 Net revenues 1 $ 1,306 $ (1,532) $ 703 $ (1,688) 1. Amounts do not reflect any gains or losses from related economic hedges. Three Months Ended September 30, 2021 2020 $ in millions Trading OCI Trading OCI Loans and other debt 1 $ 58 $ — $ 56 $ — Lending commitments (3) — (3) — Deposits — 6 — (19) Borrowings (9) 190 (8) (720) Nine Months Ended September 30, 2021 2020 $ in millions Trading OCI Trading OCI Loans and other debt 1 $ 311 $ — $ (183) $ — Lending commitments (2) — (2) — Deposits — 15 — (10) Borrowings (36) 612 (14) 991 $ in millions At At Cumulative pre-tax DVA gain (loss) recognized in AOCI $ (2,730) $ (3,357) 1. Loans and other debt instrument-specific credit gains (losses) were determined by excluding the non-credit components of gains and losses. $ in millions At At Loans and other debt 2 $ 13,053 $ 14,042 Nonaccrual loans 2 10,732 11,551 Borrowings 3 (2,382) (3,773) 1. Amounts indicate contractual principal greater than or (less than) fair value. 2. The majority of the difference between principal and fair value amounts for loans and other debt relates to distressed debt positions purchased at amounts well below par. 3. Excludes borrowings where the repayment of the initial principal amount fluctuates based on changes in a reference price or index. $ in millions At At Nonaccrual loans $ 943 $ 1,407 Nonaccrual loans 90 or more days past due 321 239

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivative Asset Contracts	Fair Values of Derivative Contracts Assets at September 30, 2021 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 578 $ 9 $ — $ 587 Foreign exchange 145 15 — 160 Total 723 24 — 747 Not designated as accounting hedges Economic loan hedges Credit 1 16 — 17 Other derivatives Interest rate 154,421 7,628 221 162,270 Credit 5,624 3,932 — 9,556 Foreign exchange 72,129 1,301 53 73,483 Equity 29,159 — 42,011 71,170 Commodity and other 28,545 — 14,178 42,723 Total 289,879 12,877 56,463 359,219 Total gross derivatives $ 290,602 $ 12,901 $ 56,463 $ 359,966 Amounts offset Counterparty netting (205,701) (11,014) (52,930) (269,645) Cash collateral netting (45,163) (1,759) — (46,922) Total in Trading assets $ 39,738 $ 128 $ 3,533 $ 43,399 Amounts not offset 1 Financial instruments collateral (12,419) — — (12,419) Net amounts $ 27,319 $ 128 $ 3,533 $ 30,980 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 4,385 Assets at December 31, 2020 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 946 $ 2 $ — $ 948 Foreign exchange 5 2 — 7 Total 951 4 — 955 Not designated as accounting hedges Economic loan hedges Credit 2 2 51 — 53 Other derivatives Interest rate 221,895 10,343 300 232,538 Credit 2 5,341 2,147 — 7,488 Foreign exchange 92,334 1,639 79 94,052 Equity 34,278 — 34,166 68,444 Commodity and other 11,095 — 3,554 14,649 Total 364,945 14,180 38,099 417,224 Total gross derivatives $ 365,896 $ 14,184 $ 38,099 $ 418,179 Amounts offset Counterparty netting (276,682) (11,601) (35,260) (323,543) Cash collateral netting (54,921) (1,865) — (56,786) Total in Trading assets $ 34,293 $ 718 $ 2,839 $ 37,850 Amounts not offset 1 Financial instruments collateral (13,319) — — (13,319) Other cash collateral (391) — — (391) Net amounts $ 20,583 $ 718 $ 2,839 $ 24,140 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 3,743
Schedule of Fair Values of Derivative Liability Contracts	Liabilities at September 30, 2021 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ — $ — $ — Foreign exchange 7 20 — 27 Total 7 20 — 27 Not designated as accounting hedges Economic loan hedges Credit 15 229 — 244 Other derivatives Interest rate 144,921 6,683 350 151,954 Credit 5,508 4,463 — 9,971 Foreign exchange 68,163 1,334 52 69,549 Equity 39,690 — 43,296 82,986 Commodity and other 22,708 — 14,480 37,188 Total 281,005 12,709 58,178 351,892 Total gross derivatives $ 281,012 $ 12,729 $ 58,178 $ 351,919 Amounts offset Counterparty netting (205,701) (11,014) (52,930) (269,645) Cash collateral netting (42,471) (1,087) — (43,558) Total in Trading liabilities $ 32,840 $ 628 $ 5,248 $ 38,716 Amounts not offset 1 Financial instruments collateral (6,226) — (1,007) (7,233) Net amounts $ 26,614 $ 628 $ 4,241 $ 31,483 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable 7,103 Liabilities at December 31, 2020 $ in millions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 19 $ — $ 19 Foreign exchange 291 99 — 390 Total 291 118 — 409 Not designated as accounting hedges Economic loan hedges Credit 2 18 177 — 195 Other derivatives Interest rate 210,015 7,965 639 218,619 Credit 2 5,275 2,682 — 7,957 Foreign exchange 92,975 1,500 43 94,518 Equity 49,943 — 36,585 86,528 Commodity and other 8,831 — 3,359 12,190 Total 367,057 12,324 40,626 420,007 Total gross derivatives $ 367,348 $ 12,442 $ 40,626 $ 420,416 Amounts offset Counterparty netting (276,682) (11,601) (35,260) (323,543) Cash collateral netting (51,112) (823) — (51,935) Total in Trading liabilities $ 39,554 $ 18 $ 5,366 $ 44,938 Amounts not offset 1 Financial instruments collateral (10,598) — (1,520) (12,118) Other cash collateral (62) (3) — (65) Net amounts $ 28,894 $ 15 $ 3,846 $ 32,755 Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable $ 6,746 1. Amounts relate to master netting agreements and collateral agreements that have been determined by the Firm to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetting accounting guidance.
Schedule of Notionals of Derivative Contracts	Notionals of Derivative Contracts Assets at September 30, 2021 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 4 $ 103 $ — $ 107 Foreign exchange 12 1 — 13 Total 16 104 — 120 Not designated as accounting hedges Economic loan hedges Credit — — — — Other derivatives Interest rate 3,836 7,950 558 12,344 Credit 213 130 — 343 Foreign exchange 3,363 89 9 3,461 Equity 522 — 459 981 Commodity and other 142 — 83 225 Total 8,076 8,169 1,109 17,354 Total gross derivatives $ 8,092 $ 8,273 $ 1,109 $ 17,474 Liabilities at September 30, 2021 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 99 $ — $ 99 Foreign exchange 3 2 — 5 Total 3 101 — 104 Not designated as accounting hedges Economic loan hedges Credit — 7 — 7 Other derivatives Interest rate 3,924 7,979 505 12,408 Credit 204 140 — 344 Foreign exchange 3,230 87 20 3,337 Equity 538 — 766 1,304 Commodity and other 119 — 87 206 Total 8,015 8,213 1,378 17,606 Total gross derivatives $ 8,018 $ 8,314 $ 1,378 $ 17,710 Assets at December 31, 2020 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ 6 $ 123 $ — $ 129 Foreign exchange 2 — — 2 Total 8 123 — 131 Not designated as accounting hedges Economic loan hedges Credit 1 — 1 — 1 Other derivatives Interest rate 3,847 6,946 409 11,202 Credit 1 140 87 — 227 Foreign exchange 3,046 103 10 3,159 Equity 444 — 367 811 Commodity and other 107 — 68 175 Total 7,584 7,137 854 15,575 Total gross derivatives $ 7,592 $ 7,260 $ 854 $ 15,706 Liabilities at December 31, 2020 $ in billions Bilateral OTC Cleared OTC Exchange- Traded Total Designated as accounting hedges Interest rate $ — $ 80 $ — $ 80 Foreign exchange 11 3 — 14 Total 11 83 — 94 Not designated as accounting hedges Economic loan hedges Credit 1 1 5 — 6 Other derivatives Interest rate 4,000 6,915 511 11,426 Credit 1 142 93 — 235 Foreign exchange 3,180 102 11 3,293 Equity 474 — 591 1,065 Commodity and other 93 — 68 161 Total 7,890 7,115 1,181 16,186 Total gross derivatives $ 7,901 $ 7,198 $ 1,181 $ 16,280 1. Certain prior period amounts have been reclassified to conform to the current presentation.
Schedule of Gains (Losses) on Accounting Hedges	Gains (Losses) on Accounting Hedges Three Months Ended Nine Months Ended September 30, September 30, $ in millions 2021 2020 2021 2020 Fair value hedges—Recognized in Interest income Interest rate contracts $ 107 $ 12 $ 607 $ (68) Investment Securities—AFS (82) (11) (509) 78 Fair value hedges—Recognized in Interest expense Interest rate contracts $ (763) $ (1,004) $ (3,633) $ 5,908 Deposits 15 62 73 (153) Borrowings 796 915 3,547 (5,844) Net investment hedges—Foreign exchange contracts Recognized in OCI $ 225 $ (260) $ 524 $ 54 Forward points excluded from hedge effectiveness testing—Recognized in Interest income (19) (6) (32) 19
Schedule of Fair Value Hedges - Hedged Items	Fair Value Hedges—Hedged Items $ in millions At At Investment Securities—AFS Amortized cost basis currently or previously hedged $ 17,823 $ 16,288 Basis adjustments included in amortized cost 1 $ (459) $ (39) Deposits Carrying amount currently or previously hedged $ 4,672 $ 15,059 Basis adjustments included in carrying amount 1 $ 20 $ 93 Borrowings Carrying amount currently or previously hedged $ 120,111 $ 114,349 Basis adjustments included in carrying amount — Outstanding hedges $ 2,996 $ 6,575 Basis adjustments included in carrying amount — Terminated hedges $ (750) $ (756) 1. Hedge accounting basis adjustments are primarily related to outstanding hedges.
Schedule of Gains (Losses) on Economic Loan Hedges	Gains (Losses) on Economic Loan Hedges Three Months Ended Nine Months Ended September 30, September 30, $ in millions 2021 2020 2021 2020 Recognized in Other revenues Credit contracts 1 $ (21) $ (58) $ (170) $ 77
Schedule of Net Derivative Liabilities and Collateral Posted	Net Derivative Liabilities and Collateral Posted $ in millions At At Net derivative liabilities with credit risk-related contingent features $ 22,199 $ 30,421 Collateral posted 15,433 23,842
Schedule of Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade	Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade $ in millions At One-notch downgrade $ 264 Two-notch downgrade 434 Bilateral downgrade agreements included in the amounts above 1 $ 587
Schedule of Maximum Potential Payout/Notional of Credit Protection Sold	Maximum Potential Payout/Notional of Credit Protection Sold 1 Years to Maturity at September 30, 2021 $ in billions < 1 1-3 3-5 Over 5 Total Single-name CDS Investment grade $ 9 $ 22 $ 30 $ 14 $ 75 Non-investment grade 5 12 16 5 38 Total $ 14 $ 34 $ 46 $ 19 $ 113 Index and basket CDS Investment grade $ 2 $ 8 $ 84 $ 37 $ 131 Non-investment grade 7 14 37 25 83 Total $ 9 $ 22 $ 121 $ 62 $ 214 Total CDS sold $ 23 $ 56 $ 167 $ 81 $ 327 Other credit contracts — — — — — Total credit protection sold $ 23 $ 56 $ 167 $ 81 $ 327 CDS protection sold with identical protection purchased $ 283 Years to Maturity at December 31, 2020 $ in billions < 1 1-3 3-5 Over 5 Total Single-name CDS Investment grade $ 9 $ 19 $ 32 $ 9 $ 69 Non-investment grade 7 10 17 2 36 Total $ 16 $ 29 $ 49 $ 11 $ 105 Index and basket CDS Investment grade $ 2 $ 5 $ 39 $ 14 $ 60 Non-investment grade 6 9 29 14 58 Total $ 8 $ 14 $ 68 $ 28 $ 118 Total CDS sold $ 24 $ 43 $ 117 $ 39 $ 223 Other credit contracts — — — — — Total credit protection sold $ 24 $ 43 $ 117 $ 39 $ 223 CDS protection sold with identical protection purchased $ 196
Schedule of Fair Value Asset (Liability) of Credit Protection Sold	Fair Value Asset (Liability) of Credit Protection Sold 1 $ in millions At At Single-name CDS Investment grade $ 1,532 $ 1,230 Non-investment grade (18) (22) Total $ 1,514 $ 1,208 Index and basket CDS Investment grade $ 1,590 $ 843 Non-investment grade (82) (824) Total $ 1,508 $ 19 Total CDS sold $ 3,022 $ 1,227 Other credit contracts (3) (4) Total credit protection sold $ 3,019 $ 1,223 1. Investment grade/non-investment grade determination is based on the internal credit rating of the reference obligation. Internal credit ratings serve as the CRM’s assessment of credit risk and the basis for a comprehensive credit limits framework used to control credit risk. The Firm uses quantitative models and judgment to estimate the various risk parameters related to each obligor.
Schedule of Protection Purchased with CDS	Protection Purchased with CDS Notional $ in billions At At Single name $ 123 $ 116 Index and basket 228 116 Tranched index and basket 16 14 Total $ 367 $ 246 Fair Value Asset (Liability) $ in millions At At Single name $ (1,811) $ (1,452) Index and basket (1,535) (57) Tranched index and basket (318) (329) Total $ (3,664) $ (1,838)

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of AFS and HTM Securities	AFS and HTM Securities At September 30, 2021 $ in millions Amortized Cost 1 Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities U.S. Treasury securities $ 55,344 $ 555 $ 83 $ 55,816 U.S. agency securities 2 28,383 386 188 28,581 Agency CMBS 14,881 342 65 15,158 State and municipal securities 285 26 6 305 FFELP student loan ABS 3 1,728 15 9 1,734 Total AFS securities 100,621 1,324 351 101,594 HTM securities U.S. Treasury securities 29,684 1,103 61 30,726 U.S. agency securities 2 48,871 267 1,055 48,083 Agency CMBS 2,331 — 34 2,297 Non-agency CMBS 951 34 3 982 Total HTM securities 81,837 1,404 1,153 82,088 Total investment securities $ 182,458 $ 2,728 $ 1,504 $ 183,682 At December 31, 2020 $ in millions Amortized Cost 1 Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities U.S. Treasury securities $ 45,345 $ 1,010 $ — $ 46,355 U.S. agency securities 2 37,389 762 25 38,126 Agency CMBS 19,982 465 9 20,438 Corporate bonds 1,694 42 — 1,736 State and municipal securities 1,461 103 1 1,563 FFELP student loan ABS 3 1,735 7 26 1,716 Other ABS 449 — — 449 Total AFS securities 108,055 2,389 61 110,383 HTM securities U.S. Treasury securities 29,346 1,893 — 31,239 U.S. agency securities 2 38,951 704 8 39,647 Agency CMBS 2,632 4 2 2,634 Non-agency CMBS 842 58 — 900 Total HTM securities 71,771 2,659 10 74,420 Total investment securities $ 179,826 $ 5,048 $ 71 $ 184,803 1. Amounts are net of any ACL. 2. U.S. agency securities consist mainly of agency mortgage pass-through pool securities, CMOs and agency-issued debt.
Schedule of Investment Securities in an Unrealized Loss Position	Investment Securities in an Unrealized Loss Position At At $ in millions Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury securities Less than 12 months $ 23,587 $ 83 $ 151 $ — Total 23,587 83 151 — U.S. agency securities Less than 12 months 11,116 170 5,808 22 12 months or longer 839 18 1,168 3 Total 11,955 188 6,976 25 Agency CMBS Less than 12 months 2,738 65 2,779 9 12 months or longer 22 — 46 — Total 2,760 65 2,825 9 Corporate bonds 12 months or longer — — 31 — Total — — 31 — State and municipal securities Less than 12 months 102 6 86 — 12 months or longer — — 36 1 Total 102 6 122 1 FFELP student loan ABS Less than 12 months 39 — — — 12 months or longer 759 9 1,077 26 Total 798 9 1,077 26 Total AFS securities in an unrealized loss position Less than 12 months 37,582 324 8,824 31 12 months or longer 1,620 27 2,358 30 Total $ 39,202 $ 351 $ 11,182 $ 61
Schedule of Investment Securities by Contractual Maturity	Investment Securities by Contractual Maturity At September 30, 2021 $ in millions Amortized 1 Fair Annualized AFS securities U.S. Treasury securities: Due within 1 year $ 11,941 $ 12,031 1.4 % After 1 year through 5 years 34,704 35,070 1.1 % After 5 years through 10 years 8,699 8,715 1.2 % Total 55,344 55,816 U.S. agency securities: Due within 1 year 3 3 1.2 % After 1 year through 5 years 132 134 1.3 % After 5 years through 10 years 1,402 1,438 1.8 % After 10 years 26,846 27,006 1.5 % Total 28,383 28,581 Agency CMBS: Due within 1 year 193 194 1.7 % After 1 year through 5 years 1,926 1,964 1.7 % After 5 years through 10 years 9,974 10,257 1.6 % After 10 years 2,788 2,743 1.4 % Total 14,881 15,158 State and municipal securities: Due within 1 year 4 4 1.9 % After 1 year through 5 years 22 22 1.8 % After 5 years through 10 years 49 58 2.1 % After 10 Years 210 221 2.0 % Total 285 305 FFELP student loan ABS: Due within 1 year 31 31 0.8 % After 1 year through 5 years 183 180 0.9 % After 5 years through 10 years 148 144 0.7 % After 10 years 1,366 1,379 1.2 % Total 1,728 1,734 Total AFS securities 100,621 101,594 1.3 % At September 30, 2021 $ in millions Amortized 1 Fair Annualized HTM securities U.S. Treasury securities: Due within 1 year 4,022 4,058 1.9 % After 1 year through 5 years 18,673 19,217 1.7 % After 5 years through 10 years 5,426 5,811 2.4 % After 10 years 1,563 1,640 2.3 % Total 29,684 30,726 U.S. agency securities: After 5 years through 10 years 497 512 2.0 % After 10 years 48,374 47,571 1.6 % Total 48,871 48,083 Agency CMBS: Due within 1 year 46 46 1.1 % After 1 year through 5 years 1,193 1,181 1.3 % After 5 years through 10 years 939 922 1.4 % After 10 years 153 148 1.5 % Total 2,331 2,297 Non-agency CMBS: Due within 1 year 151 151 4.5 % After 1 year through 5 years 61 62 2.6 % After 5 years through 10 years 703 730 3.6 % After 10 years 36 39 4.4 % Total 951 982 Total HTM securities 81,837 82,088 1.7 % Total investment securities $ 182,458 $ 183,682 1.5 % 1. Amounts are net of any ACL.
Schedule of Gross Realized Gains (Losses) on Sales of AFS Securities	Gross Realized Gains (Losses) on Sales of AFS Securities Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Gross realized gains $ 17 $ 55 $ 236 $ 120 Gross realized (losses) — — (27) (14) Total 1 $ 17 $ 55 $ 209 $ 106 1. Realized gains and losses are recognized in Other revenues in the income statements.

Collateralized Transactions (Ta

Collateralized Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
Collateralized Agreements [Abstract]
Schedule of Offsetting of Certain Collateralized Transactions	Offsetting of Certain Collateralized Transactions At September 30, 2021 $ in millions Gross Amounts Amounts Offset Balance Sheet Net Amounts Amounts Not Offset 1 Net Amounts Assets Securities purchased under agreements to resell $ 215,672 $ (95,951) $ 119,721 $ (116,787) $ 2,934 Securities borrowed 136,731 (10,809) 125,922 (119,047) 6,875 Liabilities Securities sold under agreements to repurchase $ 157,938 $ (95,951) $ 61,987 $ (54,226) $ 7,761 Securities loaned 21,942 (10,809) 11,133 (10,822) 311 Net amounts for which master netting agreements are not in place or may not be legally enforceable Securities purchased under agreements to resell $ 2,417 Securities borrowed 2,006 Securities sold under agreements to repurchase 7,167 Securities loaned 173 At December 31, 2020 $ in millions Gross Amounts Amounts Offset Balance Sheet Net Amounts Amounts Not Offset 1 Net Amounts Assets Securities purchased under agreements to resell $ 264,140 $ (147,906) $ 116,234 $ (114,108) $ 2,126 Securities borrowed 124,921 (12,530) 112,391 (107,434) 4,957 Liabilities Securities sold under agreements to repurchase $ 198,493 $ (147,906) $ 50,587 $ (43,960) $ 6,627 Securities loaned 20,261 (12,530) 7,731 (7,430) 301 Net amounts for which master netting agreements are not in place or may not be legally enforceable Securities purchased under agreements to resell $ 1,870 Securities borrowed 596 Securities sold under agreements to repurchase 6,282 Securities loaned 128 1. Amounts relate to master netting agreements that have been determined by the Firm to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetting accounting guidance.
Schedule of Gross Secured Financing Balances	Gross Secured Financing Balances by Remaining Contractual Maturity At September 30, 2021 $ in millions Overnight and Open Less than 30 Days 30-90 Days Over 90 Days Total Securities sold under agreements to repurchase $ 48,461 $ 53,458 $ 12,529 $ 43,490 $ 157,938 Securities loaned 12,675 — 150 9,117 21,942 Total included in the offsetting disclosure $ 61,136 $ 53,458 $ 12,679 $ 52,607 $ 179,880 Trading liabilities— 22,528 — — — 22,528 Total $ 83,664 $ 53,458 $ 12,679 $ 52,607 $ 202,408 At December 31, 2020 $ in millions Overnight and Open Less than 30 Days 30-90 Days Over 90 Days Total Securities sold under agreements to repurchase $ 84,349 $ 60,853 $ 26,221 $ 27,070 $ 198,493 Securities loaned 15,267 247 — 4,747 20,261 Total included in the offsetting disclosure $ 99,616 $ 61,100 $ 26,221 $ 31,817 $ 218,754 Trading liabilities— 16,389 — — — 16,389 Total $ 116,005 $ 61,100 $ 26,221 $ 31,817 $ 235,143 Gross Secured Financing Balances by Class of Collateral Pledged $ in millions At At Securities sold under agreements to repurchase U.S. Treasury and agency securities $ 40,104 $ 94,662 Other sovereign government obligations 83,996 71,140 Corporate equities 24,508 24,692 Other 9,330 7,999 Total $ 157,938 $ 198,493 Securities loaned Other sovereign government obligations $ 1,359 $ 3,430 Corporate equities 20,195 16,536 Other 388 295 Total $ 21,942 $ 20,261 Total included in the offsetting disclosure $ 179,880 $ 218,754 Trading liabilities—Obligation to return securities received as collateral Corporate equities $ 22,487 $ 16,365 Other 41 24 Total $ 22,528 $ 16,389 Total $ 202,408 $ 235,143
Schedule of Carrying Value of Assets Loaned or Pledged Without Counterparty Right to Sell or Repledge	Carrying Value of Assets Loaned or Pledged without Counterparty Right to Sell or Repledge $ in millions At At Trading assets $ 33,926 $ 30,954
Schedule of Fair Value of Collateral Received with Right to Sell or Repledge	Fair Value of Collateral Received with Right to Sell or Repledge $ in millions At At Collateral received with right to sell or repledge $ 706,446 $ 724,818 Collateral that was sold or repledged 1 535,697 523,648
Schedule of Securities Segregated for Regulatory Purposes	Securities Segregated for Regulatory Purposes $ in millions At At Segregated securities 1 $ 20,552 $ 34,106 1. Securities segregated under federal regulations for the Firm’s U.S. broker-dealers are sourced from Securities purchased under agreements to resell and Trading assets in the balance sheets.
Schedule of Customer Margin Lending	Customer Margin and Other Lending $ in millions At At Margin and other lending $ 69,608 $ 74,714

Loans, Lending Commitments an_2

Loans, Lending Commitments and Related Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of Loans by Type	Loans by Type At September 30, 2021 $ in millions Loans Held for Investment Loans Held for Sale Total Loans Corporate $ 4,774 $ 8,998 $ 13,772 Secured lending facilities 27,345 3,650 30,995 Commercial real estate 6,915 434 7,349 Residential real estate 41,428 8 41,436 Securities-based lending and Other loans 80,413 78 80,491 Total loans 160,875 13,168 174,043 ACL (684) (684) Total loans, net $ 160,191 $ 13,168 $ 173,359 Fixed rate loans, net $ 40,590 Floating or adjustable rate loans, net 132,769 Loans to non-U.S. borrowers, net 21,260 At December 31, 2020 $ in millions Loans Held for Investment Loans Held for Sale Total Loans Corporate $ 6,046 $ 8,580 $ 14,626 Secured lending facilities 25,727 3,296 29,023 Commercial real estate 7,346 822 8,168 Residential real estate 35,268 48 35,316 Securities-based lending and Other loans 64,232 67 64,299 Total loans 138,619 12,813 151,432 ACL (835) (835) Total loans, net $ 137,784 $ 12,813 $ 150,597 Fixed rate loans, net $ 32,796 Floating or adjustable rate loans, net 117,801 Loans to non-U.S. borrowers, net 21,081
Schedule of Loans Held for Investment	Loans Held for Investment before Allowance by Origination Year At September 30, 2021 At December 31, 2020 Corporate $ in millions IG NIG Total IG NIG Total Revolving $ 1,529 $ 2,302 $ 3,831 $ 1,138 $ 3,231 $ 4,369 2021 — 71 71 2020 179 26 205 585 80 665 2019 — 181 181 204 202 406 2018 195 — 195 195 — 195 2017 — 60 60 — 64 64 Prior 231 — 231 247 100 347 Total $ 2,134 $ 2,640 $ 4,774 $ 2,369 $ 3,677 $ 6,046 At September 30, 2021 At December 31, 2020 Secured lending facilities $ in millions IG NIG Total IG NIG Total Revolving $ 7,000 $ 16,034 $ 23,034 $ 4,711 $ 14,510 $ 19,221 2021 33 354 387 2020 84 175 259 162 253 415 2019 173 1,065 1,238 260 1,904 2,164 2018 310 786 1,096 614 1,432 2,046 2017 144 306 450 245 581 826 Prior — 881 881 — 1,055 1,055 Total $ 7,744 $ 19,601 $ 27,345 $ 5,992 $ 19,735 $ 25,727 At September 30, 2021 At December 31, 2020 Commercial real estate $ in millions IG NIG Total IG NIG Total 2021 260 537 797 2020 160 813 973 95 943 1,038 2019 1,148 1,400 2,548 1,074 1,848 2,922 2018 533 415 948 746 774 1,520 2017 334 339 673 412 387 799 Prior 100 876 976 100 967 1,067 Total $ 2,535 $ 4,380 $ 6,915 $ 2,427 $ 4,919 $ 7,346 At September 30, 2021 Residential real estate by FICO Scores by LTV Ratio Total $ in millions ≥ 740 680-739 ≤ 679 ≤ 80% > 80% Revolving $ 66 $ 26 $ 4 $ 96 $ — $ 96 2021 8,749 1,863 164 10,099 677 10,776 2020 8,245 1,711 133 9,557 532 10,089 2019 4,941 1,130 149 5,836 384 6,220 2018 1,977 519 65 2,369 192 2,561 2017 2,282 584 76 2,736 206 2,942 Prior 6,350 2,060 334 7,967 777 8,744 Total $ 32,610 $ 7,893 $ 925 $ 38,660 $ 2,768 $ 41,428 At December 31, 2020 Residential real estate by FICO Scores by LTV Ratio Total $ in millions ≥ 740 680-739 ≤ 679 ≤ 80% > 80% Revolving $ 85 $ 32 $ 5 $ 122 $ — $ 122 2020 8,948 1,824 149 10,338 583 10,921 2019 5,592 1,265 168 6,584 441 7,025 2018 2,320 604 75 2,756 243 2,999 2017 2,721 690 89 3,251 249 3,500 2016 3,324 884 118 4,035 291 4,326 Prior 4,465 1,626 284 5,684 691 6,375 Total $ 27,455 $ 6,925 $ 888 $ 32,770 $ 2,498 $ 35,268 At September 30, 2021 Securities-based lending 1 Other 2 $ in millions Investment Grade Non-Investment Grade Total Revolving $ 67,009 $ 5,783 $ 670 $ 73,462 2021 31 346 64 441 2020 — 729 590 1,319 2019 19 1,105 627 1,751 2018 232 288 384 904 2017 — 521 262 783 Prior 16 1,395 342 1,753 Total $ 67,307 $ 10,167 $ 2,939 $ 80,413 December 31, 2020 Securities-based lending 1 Other 2 $ in millions Investment Grade Non-Investment Grade Total Revolving $ 51,667 $ 4,816 $ 555 $ 57,038 2020 — 1,073 590 1,663 2019 18 1,156 623 1,797 2018 232 407 403 1,042 2017 — 654 122 776 2016 — 566 111 677 Prior 16 1,066 157 1,239 Total $ 51,933 $ 9,738 $ 2,561 $ 64,232 1. Securities-based loans are subject to collateral maintenance provisions, and at September 30, 2021 and December 31, 2020, these loans are predominantly over-collateralized. For more information on the ACL methodology related to securities-based loans, see Note 2 to the financial statements in the 2020 Form 10-K. 2. Other loans primarily include certain loans originated in the tailored lending business within the Wealth Management business segment. Past Due Loans Held for Investment before Allowance 1 $ in millions At September 30, 2021 At December 31, 2020 Corporate $ 4 $ — Residential real estate 235 332 Securities-based lending and Other loans — 31 Total $ 239 $ 363 1. The majority of the amounts are past due for a period of greater than 90 days as of September 30, 2021, and the majority of the amounts are past due for a period of less than 90 days as of December 31, 2020. Nonaccrual Loans Held for Investment before Allowance $ in millions At September 30, 2021 At December 31, 2020 Corporate $ 82 $ 164 Secured lending facilities 388 — Commercial real estate 68 152 Residential real estate 127 97 Securities-based lending and Other loans 161 178 Total 1 $ 826 $ 591 Nonaccrual loans without an ACL $ 125 $ 90 1. Includes all HFI loans that are 90 days or more past due as of September 30, 2021 and December 31, 2020.
Schedule of Troubled Debt Restructurings	Troubled Debt Restructurings $ in millions At September 30, 2021 At December 31, 2020 Loans, before ACL $ 65 $ 167 Lending commitments — 27 ACL on Loans and Lending commitments 9 36
Schedule of Allowance for Credit Losses Rollforward - Loans and Lending Commitments	Allowance for Credit Losses Rollforward—Loans $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2020 $ 309 $ 198 $ 211 $ 59 $ 58 $ 835 Gross charge-offs (19) (67) (21) — — (107) Provision for credit losses (91) 47 4 (2) 5 (37) Other (2) (3) (1) 1 (2) (7) September 30, 2021 $ 197 $ 175 $ 193 $ 58 $ 61 $ 684 $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2019 $ 115 $ 101 $ 75 $ 25 $ 33 $ 349 Effect of CECL adoption (2) (42) 34 21 (2) 9 Gross charge-offs (33) — (26) — — (59) Recoveries 3 — — — 2 5 Net recoveries (charge-offs) (30) — (26) — 2 (54) Provision for credit losses 281 131 173 12 4 601 Other 3 1 (34) — 38 8 September 30, 2020 $ 367 $ 191 $ 222 $ 58 $ 75 $ 913 Allowance for Credit Losses Rollforward—Lending Commitments $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2020 $ 323 $ 38 $ 11 $ 1 $ 23 $ 396 Provision for credit losses 39 2 — — (5) 36 Other (3) 1 (1) — — (3) September 30, 2021 $ 359 $ 41 $ 10 $ 1 $ 18 $ 429 $ in millions Corporate Secured lending facilities CRE Residential real estate SBL and Other Total December 31, 2019 $ 201 $ 27 $ 7 $ — $ 6 $ 241 Effect of CECL adoption (41) (11) 1 2 (1) (50) Provision for credit losses 119 24 7 (1) 7 156 Other — — (4) — 4 — September 30, 2020 $ 279 $ 40 $ 11 $ 1 $ 16 $ 347 CRE—Commercial real estate SBL—Securities-based lending Provision for Credit Losses Three Months Ended $ in millions 2021 2020 Loans $ 5 $ 63 Lending commitments 19 48
Schedule of Employee Loans	Employee Loans $ in millions At At Currently employed by the Firm 1 $ 3,486 $ 3,100 No longer employed by the Firm 2 128 $ 140 Employee loans $ 3,614 $ 3,240 ACL (163) (165) Employee loans, net of ACL $ 3,451 $ 3,075 Remaining repayment term, weighted average in years 5.6 5.3 1. These loans were predominantly current as of September 30, 2021 and December 31, 2020. 2. These loans were predominantly past due for a period of 90 days or more as of September 30, 2021 and December 31, 2020.

Other Assets - Equity Method _2

Other Assets - Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Equity Method Investments $ in millions At At Investments $ 2,298 $ 2,410 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Income (loss) $ 24 $ 10 $ 51 $ (24)
Schedule of Joint Ventures	Japanese Securities Joint Venture Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Income (loss) from investment in MUMSS $ 29 $ 15 $ 113 $ 46

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2021
Deposits [Abstract]
Schedule of Deposits	Deposits $ in millions At At Savings and demand deposits $ 310,845 $ 279,221 Time deposits 18,196 31,561 Total $ 329,041 $ 310,782 Deposits subject to FDIC insurance $ 226,605 $ 234,211 Time deposits that equal or exceed the FDIC insurance limit $ — $ 16
Schedule of Time Deposit Maturities	Time Deposit Maturities $ in millions At 2021 $ 3,544 2022 6,124 2023 4,243 2024 2,813 2025 793 Thereafter 679 Total $ 18,196

Borrowings and Other Secured _2

Borrowings and Other Secured Financings (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Borrowings	Borrowings $ in millions At At Original maturities of one year or less $ 4,825 $ 3,691 Original maturities greater than one year Senior $ 211,226 $ 202,305 Subordinated 13,711 11,083 Total $ 224,937 $ 213,388 Total borrowings $ 229,762 $ 217,079 Weighted average stated maturity, in years 1 7.7 7.3 1. Only includes borrowings wit h original maturities greater than one year.
Schedule of Other Secured Financings	Other Secured Financings $ in millions At At Original maturities: One year or less $ 4,947 $ 10,453 Greater than one year 5,325 5,410 Total $ 10,272 $ 15,863 Transfers of assets accounted for as secured financings $ 1,255 $ 1,529

Commitments, Guarantees and C_2

Commitments, Guarantees and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Commitments	Commitments Years to Maturity at September 30, 2021 $ in millions Less than 1 1-3 3-5 Over 5 Total Lending: Corporate $ 16,994 $ 36,794 $ 45,711 $ 7,396 $ 106,895 Secured lending facilities 4,799 6,061 1,717 630 13,207 Commercial and Residential real estate 303 242 133 270 948 Securities-based lending and Other 12,028 3,132 470 436 16,066 Forward-starting secured financing receivables 64,603 — — — 64,603 Central counterparty 300 — — 11,807 12,107 Underwriting 428 14 — — 442 Investment activities 1,119 240 60 409 1,828 Letters of credit and other financial guarantees 26 — — 3 29 Total $ 100,600 $ 46,483 $ 48,091 $ 20,951 $ 216,125 Lending commitments participated to third parties $ 8,380 Forward-starting secured financing receivables settled within three business days $ 55,387
Schedule of Obligations under Guarantee Arrangements	Guarantees At September 30, 2021 Maximum Potential Payout/Notional of Obligations by Years to Maturity Carrying Amount Asset (Liability) $ in millions Less than 1 1-3 3-5 Over 5 Non-credit derivatives 1 $ 1,231,656 $ 1,036,489 $ 396,233 $ 933,946 $ (48,593) Standby letters of credit and other financial guarantees issued 2 1,466 1,053 770 3,573 88 Market value guarantees 75 20 — — — Liquidity facilities 4,022 — — — 5 Whole loan sales guarantees — — 69 23,112 — Securitization representations and warranties 3 — — — 74,446 (42) General partner guarantees 327 12 32 114 (65) Client clearing guarantees 54 — — — — 1. The carrying amounts of derivative contracts that meet the accounting definition of a guarantee are shown on a gross basis. For further information on derivatives contracts, see Note 7. 2. These amounts include certain issued standby letters of credit participated to third parties, totaling $0.6 billion of notional and collateral/recourse, due to the nature of the Firm’s obligations under these arrangements. As of September 30, 2021, the carrying amount of standby letters of credit and other financial guarantees issued includes an allowance for credit losses of $85 million. 3. Primarily related to residential mortgage securitizations.

Variable Interest Entities an_2

Variable Interest Entities and Securitization Activities (Tables)	9 Months Ended
	Sep. 30, 2021
Variable Interest Entities and Securitization Activities [Abstract]
Schedule of Consolidated VIEs	Consolidated VIE Assets and Liabilities by Type of Activity 1 At September 30, 2021 At December 31, 2020 $ in millions VIE Assets VIE Liabilities VIE Assets VIE Liabilities MABS 2 $ 774 $ 234 $ 590 $ 17 Investment vehicles 3 696 216 776 355 Operating entities 497 38 504 39 Other 452 220 248 3 Total $ 2,419 $ 708 $ 2,118 $ 414 1. Certain prior period amounts have been reclassified to conform to the current presentation. 2. Amounts include transactions backed by residential mortgage loans, commercial mortgage loans and other types of assets, including consumer or commercial assets and may be in loan or security form. The value of assets is determined based on the fair value of the liabilities and the interests owned by the Firm in such VIEs as the fair values for the liabilities and interests owned are more observable. 3. Amounts include investment funds and CLOs. Consolidated VIE Assets and Liabilities by Balance Sheet Caption $ in millions At At Assets Cash and cash equivalents $ 270 $ 269 Trading assets at fair value 1,550 1,445 Investment securities 33 — Securities purchased under agreements to resell 200 — Customer and other receivables 18 23 Intangible assets 89 98 Other assets 259 283 Total $ 2,419 $ 2,118 Liabilities Other secured financings $ 505 $ 366 Other liabilities and accrued expenses 203 48 Total $ 708 $ 414 Noncontrolling interests $ 130 $ 196
Schedule of Non-Consolidated VIEs	Non-consolidated VIEs At September 30, 2021 $ in millions MABS 1 CDO MTOB OSF Other 2 VIE assets (UPB) $ 157,608 $ 1,968 $ 6,048 $ 2,014 $ 53,835 Maximum exposure to loss 3 Debt and equity interests $ 19,539 $ 169 $ — $ 1,239 $ 10,497 Derivative and other contracts — — 4,022 — 6,345 Commitments, guarantees and other 530 — — — 1,119 Total $ 20,069 $ 169 $ 4,022 $ 1,239 $ 17,961 Carrying value of variable interests—Assets Debt and equity interests $ 19,539 $ 169 $ — $ 1,239 $ 10,497 Derivative and other contracts — — 6 — 2,307 Total $ 19,539 $ 169 $ 6 $ 1,239 $ 12,804 Additional VIE assets owned 4 $ 15,975 Carrying value of variable interests—Liabilities Derivative and other contracts $ — $ — $ — $ — $ 224 At December 31, 2020 $ in millions MABS 1 CDO MTOB OSF Other 2 VIE assets (UPB) $ 184,153 $ 3,527 $ 6,524 $ 2,161 $ 48,241 Maximum exposure to loss 3 Debt and equity interests $ 26,247 $ 257 $ — $ 1,187 $ 11,008 Derivative and other contracts — — 4,425 — 5,639 Commitments, guarantees and other 929 — — — 749 Total $ 27,176 $ 257 $ 4,425 $ 1,187 $ 17,396 Carrying value of variable interests – Assets Debt and equity interests $ 26,247 $ 257 $ — $ 1,187 $ 11,008 Derivative and other contracts — — 5 — 851 Total $ 26,247 $ 257 $ 5 $ 1,187 $ 11,859 Additional VIE assets owned 4 $ 20,019 Carrying value of variable interests—Liabilities Derivative and other contracts $ — $ — $ — $ — $ 222 MTOB—Municipal tender option bonds 1. Amounts include transactions backed by residential mortgage loans, commercial mortgage loans and other types of assets, including consumer or commercial assets, and may be in loan or security form. 2. Other primarily includes exposures to commercial real estate property and investment funds. 3. Where notional amounts are utilized in quantifying the maximum exposure related to derivatives, such amounts do not reflect changes in fair value recorded by the Firm.
Schedule of Mortgage- and Asset-Backed Securitization Assets	Detail of Mortgage- and Asset-Backed Securitization Assets At September 30, 2021 At December 31, 2020 $ in millions UPB Debt and Equity Interests UPB Debt and Equity Interests Residential mortgages $ 23,049 $ 2,536 $ 17,775 $ 3,175 Commercial mortgages 67,858 3,741 62,093 4,131 U.S. agency collateralized mortgage obligations 62,470 10,881 99,182 17,224 Other consumer or commercial loans 4,231 2,381 5,103 1,717 Total $ 157,608 $ 19,539 $ 184,153 $ 26,247
Schedule of Transfers of Assets with Continuing Involvement	Transferred Assets with Continuing Involvement At September 30, 2021 $ in millions RML CML U.S. Agency CMO CLN and Other 1 SPE assets (UPB) 2 $ 7,528 $ 92,588 $ 38,788 $ 13,481 Retained interests Investment grade $ 93 $ 938 $ 629 $ — Non-investment grade 21 287 — 74 Total $ 114 $ 1,225 $ 629 $ 74 Interests purchased in the secondary market Investment grade $ 7 $ 83 $ 41 $ — Non-investment grade 34 77 — — Total $ 41 $ 160 $ 41 $ — Derivative assets $ — $ — $ — $ 586 Derivative liabilities — — — 178 At December 31, 2020 $ in millions RML CML U.S. Agency CMO CLN and Other 1 SPE assets (UPB) 2 $ 7,515 $ 84,674 $ 21,061 $ 12,978 Retained interests Investment grade $ 49 $ 822 $ 615 $ — Non-investment grade 16 195 — 114 Total $ 65 $ 1,017 $ 615 $ 114 Interests purchased in the secondary market Investment grade $ — $ 96 $ 116 $ — Non-investment grade 43 80 — 21 Total $ 43 $ 176 $ 116 $ 21 Derivative assets $ — $ — $ — $ 400 Derivative liabilities — — — 436 Fair Value At September 30, 2021 $ in millions Level 2 Level 3 Total Retained interests Investment grade $ 725 $ — $ 725 Non-investment grade 38 52 90 Total $ 763 $ 52 $ 815 Interests purchased in the secondary market Investment grade $ 124 $ 7 $ 131 Non-investment grade 74 37 111 Total $ 198 $ 44 $ 242 Derivative assets $ 585 $ 1 $ 586 Derivative liabilities 149 29 178 Fair Value at December 31, 2020 $ in millions Level 2 Level 3 Total Retained interests Investment grade $ 663 $ — $ 663 Non-investment grade 6 63 69 Total $ 669 $ 63 $ 732 Interests purchased in the secondary market Investment grade $ 196 $ 16 $ 212 Non-investment grade 62 82 144 Total $ 258 $ 98 $ 356 Derivative assets $ 388 $ 12 $ 400 Derivative liabilities 435 1 436 RML—Residential mortgage loans CML—Commercial mortgage loans 1. Amounts include CLO transactions managed by unrelated third parties.
Schedule of Proceeds from New Securitization Transactions and Sales of Loans	Proceeds from New Securitization Transactions and Sales of Loans Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 New transactions 1 $ 12,103 $ 12,969 $ 43,303 $ 30,629 Retained interests 2,396 1,991 7,960 7,215 Sales of corporate loans to CLO SPEs 1, 2 144 234 217 373 1. Net gains on new transactions and sales of corporate loans to CLO entities at the time of the sale were not material for all periods presented.
Schedule of Assets Sold with Retained Exposure	Assets Sold with Retained Exposure $ in millions At At Gross cash proceeds from sale of assets 1 $ 64,054 $ 45,051 Fair value Assets sold $ 64,185 $ 46,609 Derivative assets recognized 901 1,592 Derivative liabilities recognized 771 64

Regulatory Requirements (Tables

Regulatory Requirements (Tables)	9 Months Ended
	Sep. 30, 2021
Regulatory Requirements
Schedule of Regulatory Capital and Capital Ratios	Risk-Based Regulatory Capital Ratio Requirements At September 30, 2021 and December 31, 2020 Standardized Advanced Capital buffers Capital conservation buffer — 2.5% SCB 5.7% N/A G-SIB capital surcharge 3.0% 3.0% CCyB 1 0% 0% Capital buffer requirement 2 8.7% 5.5% At September 30, 2021 and December 31, 2020 Regulatory Minimum Standardized Advanced Required ratios 3 Common Equity Tier 1 capital ratio 4.5 % 13.2% 10.0% Tier 1 capital ratio 6.0 % 14.7% 11.5% Total capital ratio 8.0 % 16.7% 13.5% 1. The CCyB can be set up to 2.5%, but is currently set by the U.S. banking agencies at zero. 2. The capital buffer requirement represents the amount of Common Equity Tier 1 capital the Firm must maintain above the minimum risk-based capital requirements in order to avoid restrictions on the Firm's ability to make capital distributions, including the payment of dividends and the repurchase of stock, and to pay discretionary bonuses to executive officers. The Firm's Standardized Approach capital buffer requirement is equal to the sum of the SCB, G-SIB capital surcharge and CCyB, and the Advanced Approach capital buffer requirement is equal to the 2.5% capital conservation buffer, G-SIB capital surcharge and CCyB. 3. Required ratios represent the regulatory minimum plus the capital buffer requirement. The Firm’s Regulatory Capital and Capital Ratios $ in millions Required 1 At September 30, 2021 At December 31, 2020 Risk-based capital Common Equity Tier 1 capital $ 75,785 $ 78,650 Tier 1 capital 83,435 88,079 Total capital 94,062 97,213 Total RWA 473,020 453,106 Common Equity Tier 1 capital ratio 13.2 % 16.0 % 17.4 % Tier 1 capital ratio 14.7 % 17.6 % 19.4 % Total capital ratio 16.7 % 19.9 % 21.5 % $ in millions Required Ratio 1 At September 30, 2021 At December 31, 2020 Leverage-based capital Adjusted average assets 2 $ 1,145,682 $ 1,053,510 Tier 1 leverage ratio 4.0 % 7.3 % 8.4 % Supplementary leverage exposure 3,4 $ 1,459,466 $ 1,192,506 SLR 4 5.0 % 5.7 % 7.4 % 1. Required ratios are inclusive of any buffers applicable as of the date presented. Failure to maintain the buffers would result in restrictions on the Firm’s ability to make capital distributions, including the payment of dividends and the repurchase of stock, and to pay discretionary bonuses to executive officers. 2. Adjusted average assets represents the denominator of the Tier 1 leverage ratio and is composed of the average daily balance of consolidated on-balance sheet assets for the quarters ending on the respective balance sheet dates, reduced by disallowed goodwill, intangible assets, investments in covered funds, defined benefit pension plan assets, after-tax gain on sale from assets sold into securitizations, investments in the Firm’s own capital instruments, certain defined tax assets and other capital deductions. 3. Supplementary leverage exposure is the sum of Adjusted average assets used in the Tier 1 leverage ratio and other adjustments, primarily: (i) for derivatives, potential future exposure and the effective notional principal amount of sold credit protection offset by qualifying purchased credit protection; (ii) the counterparty credit risk for repo-style transactions; and (iii) the credit equivalent amount for off-balance sheet exposures. 4. The Firm’s SLR and Supplementary leverage exposure as of December 31, 2020 reflect the exclusion of U.S. Treasury securities and deposits at Federal Reserve Banks based on a Federal Reserve interim final rule that was in effect until March 31, 2021.
MSBNA
Regulatory Requirements
Schedule of Regulatory Capital and Capital Ratios	MSBNA’s Regulatory Capital At September 30, 2021 At December 31, 2020 $ in millions Well-Capitalized Requirement Required Ratio 1 Amount Ratio Amount Ratio Risk-based capital Common Equity Tier 1 capital 6.5 % 7.0 % $ 18,562 20.8 % $ 17,238 18.7 % Tier 1 capital 8.0 % 8.5 % 18,562 20.8 % 17,238 18.7 % Total capital 10.0 % 10.5 % 19,149 21.4 % 17,882 19.4 % Leverage-based capital Tier 1 leverage 5.0 % 4.0 % $ 18,562 10.2 % $ 17,238 10.1 % SLR 6.0 % 3.0 % 18,562 8.1 % 17,238 8.0 %
MSPBNA
Regulatory Requirements
Schedule of Regulatory Capital and Capital Ratios	MSPBNA’s Regulatory Capital At September 30, 2021 At December 31, 2020 $ in millions Well-Capitalized Requirement Required Ratio 1 Amount Ratio Amount Ratio Risk-based capital Common Equity Tier 1 capital 6.5 % 7.0 % $ 9,972 24.9 % $ 8,213 21.3 % Tier 1 capital 8.0 % 8.5 % 9,972 24.9 % 8,213 21.3 % Total capital 10.0 % 10.5 % 10,045 25.1 % 8,287 21.5 % Leverage-based capital Tier 1 leverage 5.0 % 4.0 % $ 9,972 7.1 % $ 8,213 7.2 % SLR 6.0 % 3.0 % 9,972 6.9 % 8,213 6.9 % 1. Required ratios are inclusive of any buffers applicable as of the date presented. Failure to maintain the buffers would result in restrictions on the ability to make capital distributions, including the payment of dividends.
MS&Co.
Regulatory Requirements
Schedule of Broker-Dealer Regulatory Capital Requirements	MS&Co. Regulatory Capital $ in millions At September 30, At December 31, Net capital $ 15,922 $ 12,869 Excess net capital 12,043 9,034

Total Equity (Tables)

Total Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Preferred Stock Outstanding and Preferred Stock Dividends	Preferred Stock Shares Outstanding Carrying Value $ in millions, except per share data At Liquidation Preference per Share At At Series A 44,000 $ 25,000 $ 1,100 $ 1,100 C 1 519,882 1,000 408 408 E 34,500 25,000 862 862 F 34,000 25,000 850 850 H 52,000 25,000 1,300 1,300 I 40,000 25,000 1,000 1,000 J 2 — — — 1,500 K 40,000 25,000 1,000 1,000 L 20,000 25,000 500 500 M 400,000 1,000 430 430 N 3,000 100,000 300 300 Total $ 7,750 $ 9,250 Shares authorized 30,000,000 1. Series C preferred stock is held by MUFG. 2. On March 15, 2021, the Firm announced the redemption in whole of its outstanding Series J preferred stock. On notice of redemption, the amount due to holders of Series J Preferred Stock was reclassified to Borrowings, and on April 15, 2021 the redemption settled at the carrying value of $1.5 billion. Dividends $ in millions, except per share data Three Months Ended Three Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 256 $ 11 $ 256 $ 11 C 25 13 25 13 E 445 15 445 15 F 430 15 430 15 H 239 12 248 13 I 398 16 398 16 J 2 — — 261 16 K 366 15 366 15 L 305 6 305 6 M 3 29 12 — — N 4 2,650 8 — — Total Preferred stock $ 123 $ 120 Common stock 0.70 $ 1,276 $ 0.35 $ 551 $ in millions, except per share data Nine Months Ended Nine Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 758 $ 33 $ 761 $ 33 C 75 39 75 39 E 1,336 45 1,336 45 F 1,289 44 1,289 44 H 719 37 897 47 I 1,195 48 1,195 48 J 2 253 15 955 58 K 1,097 45 1,097 45 L 914 18 914 18 M 3 59 24 — — N 4 5,300 16 — — Total Preferred stock $ 364 $ 377 Common stock $ 1.40 $ 2,562 $ 1.05 $ 1,662 1. Common and Preferred Stock dividends are payable quarterly, unless otherwise noted. 2. Series J was payable semiannually until July 15, 2020, after which it was payable quarterly until its redemption. 3. Series M is payable semiannually until September 15, 2026, and thereafter will be payable quarterly. 4. Series N is payable semiannually until March 15, 2023, and thereafter will be payable quarterly.
Schedule of Share Repurchases	Share Repurchases Three Months Ended September 30, Nine Months Ended September 30, $ in millions 2021 2020 2021 2020 Repurchases of common stock under the Firm’s Share Repurchase Program $ 3,557 $ — $ 8,631 $ 1,347
Schedule of Common Shares Outstanding for Basic and Diluted EPS	Common Shares Outstanding for Basic and Diluted EPS Three Months Ended Nine Months Ended in millions 2021 2020 2021 2020 Weighted average common shares outstanding, basic 1,781 1,542 1,797 1,546 Effect of dilutive Stock options, RSUs and PSUs 31 24 27 19 Weighted average common shares outstanding and common stock equivalents, diluted 1,812 1,566 1,824 1,565 Weighted average antidilutive common stock equivalents (excluded from the computation of diluted EPS) — — — 7
Schedule of Common Stock Dividends Per Share	Dividends $ in millions, except per share data Three Months Ended Three Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 256 $ 11 $ 256 $ 11 C 25 13 25 13 E 445 15 445 15 F 430 15 430 15 H 239 12 248 13 I 398 16 398 16 J 2 — — 261 16 K 366 15 366 15 L 305 6 305 6 M 3 29 12 — — N 4 2,650 8 — — Total Preferred stock $ 123 $ 120 Common stock 0.70 $ 1,276 $ 0.35 $ 551 $ in millions, except per share data Nine Months Ended Nine Months Ended Per Share 1 Total Per Share 1 Total Preferred stock series A $ 758 $ 33 $ 761 $ 33 C 75 39 75 39 E 1,336 45 1,336 45 F 1,289 44 1,289 44 H 719 37 897 47 I 1,195 48 1,195 48 J 2 253 15 955 58 K 1,097 45 1,097 45 L 914 18 914 18 M 3 59 24 — — N 4 5,300 16 — — Total Preferred stock $ 364 $ 377 Common stock $ 1.40 $ 2,562 $ 1.05 $ 1,662 1. Common and Preferred Stock dividends are payable quarterly, unless otherwise noted. 2. Series J was payable semiannually until July 15, 2020, after which it was payable quarterly until its redemption. 3. Series M is payable semiannually until September 15, 2026, and thereafter will be payable quarterly. 4. Series N is payable semiannually until March 15, 2023, and thereafter will be payable quarterly.
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) 1 $ in millions CTA AFS Securities Pension and Other DVA Total June 30, 2021 $ (895) $ 1,004 $ (481) $ (2,151) $ (2,523) OCI during the period (65) (256) 5 138 (178) September 30, 2021 $ (960) $ 748 $ (476) $ (2,013) $ (2,701) June 30, 2020 $ (1,017) $ 1,827 $ (620) $ (189) $ 1 OCI during the period 81 (62) 5 (562) (538) September 30, 2020 $ (936) $ 1,765 $ (615) $ (751) $ (537) December 31, 2020 $ (795) $ 1,787 $ (498) $ (2,456) $ (1,962) OCI during the period (165) (1,039) 22 443 (739) September 30, 2021 $ (960) $ 748 $ (476) $ (2,013) $ (2,701) December 31, 2019 $ (897) $ 207 $ (644) $ (1,454) $ (2,788) OCI during the period (39) 1,558 29 703 2,251 September 30, 2020 $ (936) $ 1,765 $ (615) $ (751) $ (537) CTA—Cumulative foreign currency translation adjustments 1. Amounts are net of tax and noncontrolling interests.
Schedule of Components of Period Changes in OCI	Components of Period Changes in OCI Three Months Ended September 30, 2021 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ (14) $ (64) $ (78) $ (13) $ (65) Reclassified to earnings — — — — — Net OCI $ (14) $ (64) $ (78) $ (13) $ (65) Change in net unrealized gains (losses) on AFS securities OCI activity $ (317) $ 74 $ (243) $ — $ (243) Reclassified to earnings (17) 4 (13) — (13) Net OCI $ (334) $ 78 $ (256) $ — $ (256) Pension and other OCI activity $ — $ — $ — $ — $ — Reclassified to earnings 7 (2) 5 — 5 Net OCI $ 7 $ (2) $ 5 $ — $ 5 Change in net DVA OCI activity $ 187 $ (46) $ 141 $ 9 $ 132 Reclassified to earnings 9 (3) 6 — 6 Net OCI $ 196 $ (49) $ 147 $ 9 $ 138 Three Months Ended September 30, 2020 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ 34 $ 76 $ 110 $ 29 $ 81 Reclassified to earnings — — — — — Net OCI $ 34 $ 76 $ 110 $ 29 $ 81 Change in net unrealized gains (losses) on AFS securities OCI activity $ (26) $ 6 $ (20) $ — $ (20) Reclassified to earnings (55) 13 (42) — (42) Net OCI $ (81) $ 19 $ (62) $ — $ (62) Pension and other OCI activity $ (1) $ 1 $ — $ — $ — Reclassified to earnings 6 (1) 5 — 5 Net OCI $ 5 $ — $ 5 $ — $ 5 Change in net DVA OCI activity $ (747) $ 178 $ (569) $ (1) $ (568) Reclassified to earnings 8 (2) 6 — 6 Net OCI $ (739) $ 176 $ (563) $ (1) $ (562) Nine Months Ended September 30, 2021 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ (106) $ (150) $ (256) $ (91) $ (165) Reclassified to earnings — — — — — Net OCI $ (106) $ (150) $ (256) $ (91) $ (165) Change in net unrealized gains (losses) on AFS securities OCI activity $ (1,146) $ 267 $ (879) $ — $ (879) Reclassified to earnings (209) 49 (160) — (160) Net OCI $ (1,355) $ 316 $ (1,039) $ — $ (1,039) Pension and other OCI activity $ 8 $ — $ 8 $ — $ 8 Reclassified to earnings 21 (7) 14 — 14 Net OCI $ 29 $ (7) $ 22 $ — $ 22 Change in net DVA OCI activity $ 591 $ (148) $ 443 $ 27 $ 416 Reclassified to earnings 36 (9) 27 — 27 Net OCI $ 627 $ (157) $ 470 $ 27 $ 443 Nine Months Ended September 30, 2020 $ in millions Pre-tax Income After-tax Non- Net CTA OCI activity $ 19 $ (17) $ 2 $ 38 $ (36) Reclassified to earnings (3) — (3) — (3) Net OCI $ 16 $ (17) $ (1) $ 38 $ (39) Change in net unrealized gains (losses) on AFS securities OCI activity $ 2,142 $ (503) $ 1,639 $ — $ 1,639 Reclassified to earnings (106) 25 (81) — (81) Net OCI $ 2,036 $ (478) $ 1,558 $ — $ 1,558 Pension and other OCI activity $ 20 $ (4) $ 16 $ — $ 16 Reclassified to earnings 16 (3) 13 — 13 Net OCI $ 36 $ (7) $ 29 $ — $ 29 Change in net DVA OCI activity $ 967 $ (233) $ 734 $ 41 $ 693 Reclassified to earnings 14 (4) 10 — 10 Net OCI $ 981 $ (237) $ 744 $ 41 $ 703

Interest Income and Interest _2

Interest Income and Interest Expense (Tables)	9 Months Ended
	Sep. 30, 2021
Interest Income (Expense), Net [Abstract]
Schedule of Details of Interest Income and Interest Expense	Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Interest income Investment securities $ 643 $ 529 $ 2,100 $ 1,603 Loans 1,063 967 3,091 3,171 Securities purchased under agreements to resell and Securities borrowed 1 (282) (187) (899) 70 Trading assets, net of Trading liabilities 525 537 1,521 1,902 Customer receivables and Other 2 402 210 1,187 1,171 Total interest income $ 2,351 $ 2,056 $ 7,000 $ 7,917 Interest expense Deposits $ 102 $ 178 $ 330 $ 804 Borrowings 597 714 2,030 2,534 Securities sold under agreements to repurchase and Securities loaned 3 131 165 361 883 Customer payables and Other 4 (542) (487) (1,677) (746) Total interest expense $ 288 $ 570 $ 1,044 $ 3,475 Net interest $ 2,063 $ 1,486 $ 5,956 $ 4,442 1. Includes fees paid on Securities borrowed. 2. Includes interest from Cash and cash equivalents. 3. Includes fees received on Securities loaned.
Schedule of Accrued Interest	Accrued Interest $ in millions At At December 31, 2020 Customer and other receivables $ 2,229 $ 1,652 Customer and other payables 2,374 2,119

Segment, Geographic and Reven_2

Segment, Geographic and Revenue Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Selected Financial Information by Business Segment	Selected Financial Information by Business Segment Three Months Ended September 30, 2021 $ in millions IS WM IM I/E Total Investment banking $ 2,849 $ 186 $ — $ (22) $ 3,013 Trading 2,897 (58) 1 21 2,861 Investments 52 8 (15) — 45 Commissions and fees 1 664 704 — (88) 1,280 Asset management 1,2 145 3,628 1,470 (42) 5,201 Other 172 119 — (1) 290 Total non-interest revenues 6,779 4,587 1,456 (132) 12,690 Interest income 948 1,464 8 (69) 2,351 Interest expense 232 116 11 (71) 288 Net interest 716 1,348 (3) 2 2,063 Net revenues $ 7,495 $ 5,935 $ 1,453 $ (130) $ 14,753 Provision for credit losses $ 24 $ — $ — $ — $ 24 Compensation and benefits 2,248 3,159 513 — 5,920 Non-compensation expenses 2,250 1,246 570 (131) 3,935 Total non-interest expenses $ 4,498 $ 4,405 $ 1,083 $ (131) $ 9,855 Income before provision for income taxes $ 2,973 $ 1,530 $ 370 $ 1 $ 4,874 Provision for income taxes 713 373 64 — 1,150 Net income 2,260 1,157 306 1 3,724 Net income applicable to noncontrolling interests 31 — (14) — 17 Net income applicable to Morgan Stanley $ 2,229 $ 1,157 $ 320 $ 1 $ 3,707 Three Months Ended September 30, 2020 $ in millions IS WM IM I/E Total Investment banking $ 1,707 $ 135 $ — $ (16) $ 1,826 Trading 3 2,865 268 2 15 3,150 Investments 87 1 258 — 346 Commissions and fees 1 639 477 1 (80) 1,037 Asset management 1,2 114 2,793 795 (38) 3,664 Other 3 123 91 1 (3) 212 Total non-interest revenues 5,535 3,765 1,057 (122) 10,235 Interest income 1,086 1,065 7 (102) 2,056 Interest expense 492 176 8 (106) 570 Net interest 594 889 (1) 4 1,486 Net revenues 3 $ 6,129 $ 4,654 $ 1,056 $ (118) $ 11,721 Provision for credit losses 3 $ 113 $ (2) $ — $ — $ 111 Compensation and benefits 2,001 2,684 401 — 5,086 Non-compensation expenses 3 1,967 852 340 (122) 3,037 Total non-interest expenses 3 $ 3,968 $ 3,536 $ 741 $ (122) $ 8,123 Income before provision for income taxes $ 2,048 $ 1,120 $ 315 $ 4 $ 3,487 Provision for income taxes 385 278 72 1 736 Net income 1,663 842 243 3 2,751 Net income applicable to noncontrolling interests 16 — 18 — 34 Net income applicable to Morgan Stanley $ 1,647 $ 842 $ 225 $ 3 $ 2,717 Nine Months Ended September 30, 2021 $ in millions IS WM IM I/E Total Investment banking $ 7,838 $ 640 $ — $ (65) $ 8,413 Trading 10,048 323 (18) 63 10,416 Investments 199 24 521 — 744 Commissions and fees 1 2,216 2,269 1 (272) 4,214 Asset management 1,2 432 10,266 3,991 (117) 14,572 Other 467 479 (23) (7) 916 Total non-interest revenues 21,200 14,001 4,472 (398) 39,275 Interest income 2,791 4,316 26 (133) 7,000 Interest expense 827 328 29 (140) 1,044 Net interest 1,964 3,988 (3) 7 5,956 Net revenues $ 23,164 $ 17,989 $ 4,469 $ (391) $ 45,231 Provision for credit losses $ 1 $ (2) $ — $ — $ (1) Compensation and benefits 7,795 9,604 1,742 — 19,141 Non-compensation expenses 6,526 3,621 1,557 (397) 11,307 Total non-interest expenses $ 14,321 $ 13,225 $ 3,299 $ (397) $ 30,448 Income before provision for income taxes $ 8,842 $ 4,766 $ 1,170 $ 6 $ 14,784 Provision for income taxes 2,023 1,103 253 1 3,380 Net income 6,819 3,663 917 5 11,404 Net income applicable to noncontrolling interests 85 — (19) — 66 Net income applicable to Morgan Stanley $ 6,734 $ 3,663 $ 936 $ 5 $ 11,338 Nine Months Ended September 30, 2020 $ in millions IS WM IM I/E Total Investment banking $ 4,902 $ 403 $ — $ (66) $ 5,239 Trading 3 10,298 413 (13) 56 10,754 Investments 98 9 552 — 659 Commissions and fees 1 2,230 1,538 1 (270) 3,499 Asset management 1,2 342 7,980 2,144 (120) 10,346 Other 3 11 256 (39) (7) 221 Total non-interest revenues 17,881 10,599 2,645 (407) 30,718 Interest income 4,809 3,468 22 (382) 7,917 Interest expense 3,184 653 33 (395) 3,475 Net interest 1,625 2,815 (11) 13 4,442 Net revenues 3 $ 19,506 $ 13,414 $ 2,634 $ (394) $ 35,160 Provision for credit losses 3 $ 718 $ 39 $ — $ — $ 757 Compensation and benefits 6,767 7,625 1,012 — 15,404 Non-compensation expenses 3 6,030 2,433 948 (400) 9,011 Total non-interest expenses 3 $ 12,797 $ 10,058 $ 1,960 $ (400) $ 24,415 Income before provision for income taxes $ 5,991 $ 3,317 $ 674 $ 6 $ 9,988 Provision for income taxes 1,326 758 136 1 2,221 Net income 4,665 2,559 538 5 7,767 Net income applicable to noncontrolling interests 75 — 81 — 156 Net income applicable to Morgan Stanley $ 4,590 $ 2,559 $ 457 $ 5 $ 7,611 I/E–Intersegment Eliminations 1. Substantially all revenues are from contracts with customers. 2. Includes certain fees which may relate to services performed in prior periods.
Schedule of Investment Banking Revenues	Detail of Investment Banking Revenues Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Institutional Securities Advisory $ 1,272 $ 357 $ 2,416 $ 1,181 Institutional Securities Underwriting 1,577 1,350 5,422 3,721 Firm Investment banking revenues from contracts with customers 91 % 95 % 91 % 92 %
Schedule of Trading Revenues by Product Type	Trading Revenues by Product Type 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Interest rate $ (32) $ 511 $ 844 $ 2,593 Foreign exchange 253 138 841 603 Equity security and index 2 1,903 1,478 5,631 4,494 Commodity and other 538 553 2,079 1,286 Credit 199 470 1,021 1,778 Total $ 2,861 $ 3,150 $ 10,416 $ 10,754 1. Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information.
Schedule of Net Unrealized Carried Interest and Reduction of Fees due to Fee Waivers	Investment Management Investments Revenues—Net Cumulative Unrealized Carried Interest $ in millions At At Net cumulative unrealized performance-based income at risk of reversing $ 774 $ 735 Investment Management Asset Management Revenues—Reduction of Fees Due to Fee Waivers Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Fee waivers $ 139 $ 37 $ 364 $ 70
Schedule of Other Expenses - Transaction Taxes	Other Expenses — Transaction Taxes Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Transaction taxes $ 262 $ 194 $ 717 $ 524
Schedule of Net Revenues by Region	Net Revenues by Region 1 Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Americas $ 11,255 $ 8,455 $ 33,331 $ 25,293 EMEA 1,752 1,472 6,004 4,778 Asia 1,746 1,794 5,896 5,089 Total $ 14,753 $ 11,721 $ 45,231 $ 35,160
Schedule of Revenue Recognized from Prior Services	Revenues Recognized from Prior Services Three Months Ended Nine Months Ended $ in millions 2021 2020 2021 2020 Non-interest revenues $ 1,308 $ 556 $ 1,862 $ 1,616
Schedule of Receivables from Contracts with Customers	Receivables from Contracts with Customers $ in millions At At Customer and other receivables $ 3,592 $ 3,200
Schedule of Assets by Business Segment	Assets by Business Segment $ in millions At At Institutional Securities $ 808,252 $ 753,322 Wealth Management 364,634 355,595 Investment Management 17,590 6,945 Total 1 $ 1,190,476 $ 1,115,862

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - Eaton Vance shares in Millions, $ in Billions	Mar. 01, 2021USD ($)shares
Business Acquisition [Line Items]
Voting interests acquired (as a percent)	100.00%
Consideration transferred in business acquisition	$ 8.7
Cash consideration transferred	3.4
Common Stock, $0.01 par value
Business Acquisition [Line Items]
Fair value of shares transferred in acquisition	$ 5.3
Stock issued in acquisition (shares) | shares	69

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 01, 2021	Dec. 31, 2020
Assets
Goodwill	$ 16,832		$ 11,635
Eaton Vance
Assets
Cash and cash equivalents		$ 691
Trading assets at fair value: Loans and lending commitments		445
Trading assets at fair value: Investments		299
Trading assets at fair value: Corporate and other debt		52
Customer and other receivables		331
Goodwill		5,270
Intangible assets		3,956
Other assets		836
Total assets		11,880
Liabilities
Other secured financings		399
Other liabilities and accrued expenses		2,147
Borrowings		678
Total liabilities		$ 3,224

Acquisitions - Acquired Intangi

Acquisitions - Acquired Intangible Assets (Details) - Eaton Vance $ in Millions	Mar. 01, 2021USD ($)
Business Acquisition [Line Items]
Total acquired Intangible assets	$ 3,956
Customer relationships
Business Acquisition [Line Items]
Weighted-average intangible life	16 years
Amortizable acquired intangible assets	$ 1,455
Tradenames
Business Acquisition [Line Items]
Weighted-average intangible life	23 years
Amortizable acquired intangible assets	$ 221
Management contracts
Business Acquisition [Line Items]
Weighted-average intangible life	16 years
Amortizable acquired intangible assets	$ 160
Management contracts
Business Acquisition [Line Items]
Non-amortizable acquired intangible assets	$ 2,120

Acquisitions - Proforma Combine

Acquisitions - Proforma Combined Financial Information (Details) - Eaton Vance - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Net revenues of acquiree since acquisition date	$ 549		$ 1,258
Net income of acquiree since acquisition date	137		287
Net revenues	14,753	$ 12,072	45,527	$ 36,313
Net income	$ 3,724	$ 2,729	$ 11,504	$ 7,420

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and due from banks	$ 10,216	$ 9,792
Interest bearing deposits with banks	113,647	95,862
Total Cash and cash equivalents	123,863	105,654
Restricted cash	$ 43,829	$ 38,202

Fair Values - Assets and Liabil

Fair Values - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets at fair value
Derivative and other contracts	$ 43,399	$ 37,850
Investment securities	183,682	184,803
Total trading assets	315,161	312,738
Investment securities—AFS	101,594	110,383
Securities purchased under agreements to resell	7	15
Liabilities at fair value
Deposits	2,010	3,521
Derivative and other contracts	38,716	44,938
Securities sold under agreements to repurchase	928	1,115
Other secured financings	5,614	11,701
Borrowings	75,752	73,701
State and municipal securities
Assets at fair value
Investment securities—AFS	305	1,563
Recurring
Assets at fair value
Netting	(51,501)	(62,956)
Liabilities at fair value
Netting	(48,137)	(58,105)
Borrowings	75,752	73,701
Recurring | Interest rate
Liabilities at fair value
Borrowings	29,213	31,222
Recurring | Credit
Liabilities at fair value
Borrowings	1,274	1,344
Recurring | Foreign exchange
Liabilities at fair value
Borrowings	1,589	2,105
Recurring | Equity
Liabilities at fair value
Borrowings	35,708	33,952
Recurring | Commodity and other
Liabilities at fair value
Borrowings	7,968	5,078
Recurring | Loans and lending commitments
Assets at fair value
Trading assets	14,915	11,148
Recurring | Total
Assets at fair value
Derivative and other contracts	43,399	37,850
Netting	(316,567)	(380,329)
Investment securities	2,224	1,686
Physical commodities	3,049	3,260
Total trading assets	310,805	308,909
Investment securities—AFS	101,594	110,383
Securities purchased under agreements to resell	7	15
Total assets at fair value	412,406	419,307
Liabilities at fair value
Deposits	2,010	3,521
Trading liabilities	169,959	157,631
Derivative and other contracts	38,716	44,938
Netting	(313,203)	(375,478)
Securities sold under agreements to repurchase	928	1,115
Other secured financings	5,614	11,701
Borrowings	75,752	73,701
Total liabilities at fair value	254,263	247,669
Recurring | Total | Interest rate
Assets at fair value
Derivative and other contracts	162,857	233,486
Liabilities at fair value
Derivative and other contracts	151,954	218,638
Recurring | Total | Credit
Assets at fair value
Derivative and other contracts	9,573	7,541
Liabilities at fair value
Derivative and other contracts	10,215	8,152
Recurring | Total | Foreign exchange
Assets at fair value
Derivative and other contracts	73,643	94,059
Liabilities at fair value
Derivative and other contracts	69,576	94,908
Recurring | Total | Equity
Assets at fair value
Derivative and other contracts	71,170	68,444
Liabilities at fair value
Derivative and other contracts	82,986	86,528
Recurring | Total | Commodity and other
Assets at fair value
Derivative and other contracts	42,723	14,649
Liabilities at fair value
Derivative and other contracts	37,188	12,190
Recurring | Total | U.S. Treasury and agency securities
Liabilities at fair value
Trading liabilities	20,765	10,205
Recurring | Total | Other sovereign government obligations
Liabilities at fair value
Trading liabilities	25,011	25,963
Recurring | Total | Corporate and other debt
Liabilities at fair value
Trading liabilities	10,570	8,468
Recurring | Total | Corporate equities
Liabilities at fair value
Trading liabilities	74,897	68,057
Recurring | Total | U.S. Treasury and agency securities
Assets at fair value
Trading assets	70,554	74,617
Recurring | Total | Other sovereign government obligations
Assets at fair value
Trading assets	38,041	31,490
Recurring | Total | State and municipal securities
Assets at fair value
Trading assets	1,960	1,135
Recurring | Total | MABS
Assets at fair value
Trading assets	1,615	1,392
Recurring | Total | Loans and lending commitments
Assets at fair value
Trading assets	14,915	11,148
Recurring | Total | Corporate and other debt
Assets at fair value
Trading assets	32,805	33,528
Recurring | Total | Corporate equities
Assets at fair value
Equity securities	102,243	112,803
Recurring | Level 1
Assets at fair value
Derivative and other contracts	1,790	1,949
Netting	(15,382)	(5,488)
Investment securities	795	624
Physical commodities	0	0
Total trading assets	180,394	183,406
Investment securities—AFS	55,839	46,354
Securities purchased under agreements to resell	0	0
Total assets at fair value	236,233	229,760
Liabilities at fair value
Deposits	0	0
Trading liabilities	119,192	104,550
Derivative and other contracts	1,826	2,315
Netting	(15,382)	(5,488)
Securities sold under agreements to repurchase	0	0
Other secured financings	0	0
Borrowings	0	0
Total liabilities at fair value	119,192	104,550
Recurring | Level 1 | Interest rate
Assets at fair value
Derivative and other contracts	3,382	4,458
Liabilities at fair value
Derivative and other contracts	3,251	4,789
Recurring | Level 1 | Credit
Assets at fair value
Derivative and other contracts	0	0
Liabilities at fair value
Derivative and other contracts	0	0
Recurring | Level 1 | Foreign exchange
Assets at fair value
Derivative and other contracts	32	29
Liabilities at fair value
Derivative and other contracts	35	11
Recurring | Level 1 | Equity
Assets at fair value
Derivative and other contracts	1,211	1,132
Liabilities at fair value
Derivative and other contracts	1,477	1,245
Recurring | Level 1 | Commodity and other
Assets at fair value
Derivative and other contracts	12,547	1,818
Liabilities at fair value
Derivative and other contracts	12,445	1,758
Recurring | Level 1 | U.S. Treasury and agency securities
Liabilities at fair value
Trading liabilities	19,623	10,204
Recurring | Level 1 | Other sovereign government obligations
Liabilities at fair value
Trading liabilities	23,194	24,209
Recurring | Level 1 | Corporate and other debt
Liabilities at fair value
Trading liabilities	0	0
Recurring | Level 1 | Corporate equities
Liabilities at fair value
Trading liabilities	74,549	67,822
Recurring | Level 1 | U.S. Treasury and agency securities
Assets at fair value
Trading assets	44,238	43,084
Recurring | Level 1 | Other sovereign government obligations
Assets at fair value
Trading assets	32,668	26,174
Recurring | Level 1 | State and municipal securities
Assets at fair value
Trading assets	0	0
Recurring | Level 1 | MABS
Assets at fair value
Trading assets	0	0
Recurring | Level 1 | Loans and lending commitments
Assets at fair value
Trading assets	0	0
Recurring | Level 1 | Corporate and other debt
Assets at fair value
Trading assets	0	0
Recurring | Level 1 | Corporate equities
Assets at fair value
Equity securities	100,903	111,575
Recurring | Level 2
Assets at fair value
Derivative and other contracts	88,665	93,945
Netting	(248,815)	(310,534)
Investment securities	648	234
Physical commodities	3,049	3,260
Total trading assets	170,108	172,840
Investment securities—AFS	45,755	61,225
Securities purchased under agreements to resell	7	12
Total assets at fair value	215,870	234,077
Liabilities at fair value
Deposits	1,948	3,395
Trading liabilities	95,585	106,465
Derivative and other contracts	81,750	96,086
Netting	(248,815)	(310,534)
Securities sold under agreements to repurchase	480	671
Other secured financings	5,219	11,185
Borrowings	73,696	69,327
Total liabilities at fair value	176,928	191,043
Recurring | Level 2 | Interest rate
Assets at fair value
Derivative and other contracts	158,164	227,818
Liabilities at fair value
Derivative and other contracts	148,188	213,321
Recurring | Level 2 | Credit
Assets at fair value
Derivative and other contracts	9,063	6,840
Liabilities at fair value
Derivative and other contracts	9,671	7,500
Recurring | Level 2 | Foreign exchange
Assets at fair value
Derivative and other contracts	73,464	93,770
Liabilities at fair value
Derivative and other contracts	69,491	94,698
Recurring | Level 2 | Equity
Assets at fair value
Derivative and other contracts	69,495	65,943
Liabilities at fair value
Derivative and other contracts	80,045	81,683
Recurring | Level 2 | Commodity and other
Assets at fair value
Derivative and other contracts	27,294	10,108
Liabilities at fair value
Derivative and other contracts	23,170	9,418
Recurring | Level 2 | U.S. Treasury and agency securities
Liabilities at fair value
Trading liabilities	1,142	1
Recurring | Level 2 | Other sovereign government obligations
Liabilities at fair value
Trading liabilities	1,814	1,738
Recurring | Level 2 | Corporate and other debt
Liabilities at fair value
Trading liabilities	10,565	8,468
Recurring | Level 2 | Corporate equities
Liabilities at fair value
Trading liabilities	314	172
Recurring | Level 2 | U.S. Treasury and agency securities
Assets at fair value
Trading assets	26,312	31,524
Recurring | Level 2 | Other sovereign government obligations
Assets at fair value
Trading assets	5,246	5,048
Recurring | Level 2 | State and municipal securities
Assets at fair value
Trading assets	1,960	1,135
Recurring | Level 2 | MABS
Assets at fair value
Trading assets	1,249	1,070
Recurring | Level 2 | Loans and lending commitments
Assets at fair value
Trading assets	10,611	5,389
Recurring | Level 2 | Corporate and other debt
Assets at fair value
Trading assets	31,242	30,093
Recurring | Level 2 | Corporate equities
Assets at fair value
Equity securities	1,126	1,142
Recurring | Level 3
Assets at fair value
Equity securities	214	86
Derivative and other contracts	4,445	4,912
Netting	(869)	(1,351)
Investment securities	781	828
Physical commodities	0	0
Total trading assets	11,804	15,619
Investment securities—AFS	0	2,804
Securities purchased under agreements to resell	0	3
Total assets at fair value	11,804	18,426
Liabilities at fair value
Deposits	62	126
Trading liabilities	3,319	4,721
Derivative and other contracts	3,277	4,642
Netting	(869)	(1,351)
Securities sold under agreements to repurchase	448	444
Other secured financings	395	516
Borrowings	2,056	4,374
Total liabilities at fair value	6,280	10,181
Recurring | Level 3 | Interest rate
Assets at fair value
Derivative and other contracts	1,311	1,210
Liabilities at fair value
Derivative and other contracts	515	528
Recurring | Level 3 | Credit
Assets at fair value
Derivative and other contracts	510	701
Liabilities at fair value
Derivative and other contracts	544	652
Recurring | Level 3 | Foreign exchange
Assets at fair value
Derivative and other contracts	147	260
Liabilities at fair value
Derivative and other contracts	50	199
Recurring | Level 3 | Equity
Assets at fair value
Derivative and other contracts	464	1,369
Liabilities at fair value
Derivative and other contracts	1,464	3,600
Recurring | Level 3 | Commodity and other
Assets at fair value
Derivative and other contracts	2,882	2,723
Liabilities at fair value
Derivative and other contracts	1,573	1,014
Recurring | Level 3 | U.S. Treasury and agency securities
Liabilities at fair value
Trading liabilities	0	0
Recurring | Level 3 | Other sovereign government obligations
Liabilities at fair value
Trading liabilities	3	16
Recurring | Level 3 | Corporate and other debt
Liabilities at fair value
Trading liabilities	5	0
Recurring | Level 3 | Corporate equities
Liabilities at fair value
Trading liabilities	34	63
Recurring | Level 3 | U.S. Treasury and agency securities
Assets at fair value
Trading assets	4	9
Recurring | Level 3 | Other sovereign government obligations
Assets at fair value
Trading assets	127	268
Recurring | Level 3 | State and municipal securities
Assets at fair value
Trading assets	0	0
Recurring | Level 3 | MABS
Assets at fair value
Trading assets	366	322
Recurring | Level 3 | Loans and lending commitments
Assets at fair value
Trading assets	4,304	5,759
Recurring | Level 3 | Corporate and other debt
Assets at fair value
Trading assets	1,563	3,435
Recurring | Level 3 | Corporate equities
Assets at fair value
Equity securities	$ 214	$ 86

Fair Values - Detail of Loans a

Fair Values - Detail of Loans and Lending Commitments at Fair Value (Details) - Loans and lending commitments - Recurring - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Measurements
Trading assets	$ 14,915	$ 11,148
Corporate
Fair Value Measurements
Trading assets	13	13
Secured lending facilities
Fair Value Measurements
Trading assets	350	648
Commercial real estate
Fair Value Measurements
Trading assets	2,418	916
Residential real estate
Fair Value Measurements
Trading assets	3,118	2,145
Securities-based lending and Other loans
Fair Value Measurements
Trading assets	$ 9,016	$ 7,426

Fair Values - Detail of Unsettl

Fair Values - Detail of Unsettled Fair Value of Futures Contracts (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Futures Contracts | Customer and other receivables (payables), net | Recurring
Fair Value Measurements
Derivative assets, unsettled fair value	$ (26)	$ 434

Fair Values - Activity of Level

Fair Values - Activity of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - Level 3 - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Liabilities at Fair Value
Portion of Unrealized losses (gains) recorded in OCI—Change in net DVA	$ (4)			$ 22			$ (18)	$ (124)
Deposits
Liabilities at Fair Value
Beginning balance	86		$ 126	90		$ 179	126	179
Realized and unrealized losses (gains)	(1)			4			1	8
Settlements	(4)			(2)			(12)	(13)
Net transfers	(19)			13			(53)	(69)
Ending balance	62	$ 86		105	$ 90		62	105
Unrealized losses (gains)	(1)			4			1	8
Nonderivative trading liabilities
Liabilities at Fair Value
Beginning balance	59		79	74		37	79	37
Realized and unrealized losses (gains)	(11)			(6)			(20)	(21)
Purchases	(16)			(7)			(88)	(23)
Sales	11			5			83	23
Settlements	0			0			0	3
Net transfers	(1)			(6)			(12)	41
Ending balance	42	59		60	74		42	60
Unrealized losses (gains)	(11)			(4)			1	(21)
Securities sold under agreements to repurchase
Liabilities at Fair Value
Beginning balance	449		444	440		0	444	0
Realized and unrealized losses (gains)	(1)			8			5	(22)
Issuances	0			0			0	470
Net transfers	0			0			(1)	0
Ending balance	448	449		448	440		448	448
Unrealized losses (gains)	(1)			8			5	(22)
Other secured financings
Liabilities at Fair Value
Beginning balance	401		516	300		109	516	109
Realized and unrealized losses (gains)	(17)			11			(14)	(1)
Issuances	14			3			421	10
Settlements	(3)			(5)			(500)	(208)
Net transfers	0			0			(28)	399
Ending balance	395	401		309	300		395	309
Unrealized losses (gains)	(17)			11			(13)	(1)
Borrowings
Liabilities at Fair Value
Beginning balance	1,975		4,374	4,135		4,088	4,374	4,088
Realized and unrealized losses (gains)	(87)			(32)			(37)	(284)
Issuances	197			194			411	992
Settlements	(67)			(70)			(347)	(346)
Net transfers	38			(146)			(2,345)	(369)
Ending balance	2,056	1,975		4,081	4,135		2,056	4,081
Unrealized losses (gains)	(86)			(33)			(8)	(282)
Transfers from Level 3 to Level 2		2,200
Interest rate
Assets at Fair value
Beginning balance	668		682	760		777	682	777
Realized and unrealized gains (losses)	70			(147)			(223)	(95)
Purchases	22			36			48	153
Issuances	(9)			(15)			(41)	(41)
Settlements	18			(31)			101	36
Net transfers	27			33			229	(194)
Ending balance	796	668		636	760		796	636
Unrealized gains (losses)	165			(139)			(168)	(37)
Credit
Assets at Fair value
Beginning balance	(203)		49	131		124	49	124
Realized and unrealized gains (losses)	59			(16)			(2)	11
Purchases	12			17			23	66
Issuances	(19)			(51)			(44)	(101)
Settlements	102			10			16	61
Net transfers	15			25			(76)	(45)
Ending balance	(34)	(203)		116	131		(34)	116
Unrealized gains (losses)	(26)			(16)			0	2
Foreign exchange
Assets at Fair value
Beginning balance	33		61	17		(31)	61	(31)
Realized and unrealized gains (losses)	32			86			41	202
Purchases	12			0			19	3
Issuances	(15)			(4)			(21)	(5)
Settlements	46			(9)			(45)	(27)
Net transfers	(11)			9			42	(43)
Ending balance	97	33		99	17		97	99
Unrealized gains (losses)	29			75			73	136
Equity
Assets at Fair value
Beginning balance	(837)		(2,231)	(1,884)		(1,684)	(2,231)	(1,684)
Realized and unrealized gains (losses)	(45)			3			366	75
Purchases	24			19			69	192
Issuances	(122)			(181)			(362)	(706)
Settlements	(3)			(151)			(196)	(167)
Net transfers	(17)			49			1,354	145
Ending balance	(1,000)	(837)		(2,145)	(1,884)		(1,000)	(2,145)
Unrealized gains (losses)	(96)			32			(57)	(143)
Liabilities at Fair Value
Transfers from Level 3 to Level 2		1,000
Commodity and other
Assets at Fair value
Beginning balance	1,430		1,709	2,087		1,612	1,709	1,612
Realized and unrealized gains (losses)	(167)			(29)			43	373
Purchases	44			1			324	26
Issuances	(31)			(40)			(137)	(65)
Settlements	(97)			(181)			(371)	(101)
Net transfers	130			(34)			(259)	(41)
Ending balance	1,309	1,430		1,804	2,087		1,309	1,804
Unrealized gains (losses)	(96)			(251)			(243)	(6)
U.S. Treasury and agency securities
Assets at Fair value
Beginning balance	25		9	97		22	9	22
Realized and unrealized gains (losses)	(1)			(1)			0	0
Purchases	4			109			28	133
Sales	(24)			(36)			(33)	(42)
Net transfers	0			(47)			0	9
Ending balance	4	25		122	97		4	122
Unrealized gains (losses)	(1)			(1)			0	0
Other sovereign government obligations
Assets at Fair value
Beginning balance	78		268	11		5	268	5
Realized and unrealized gains (losses)	(3)			(1)			(1)	0
Purchases	59			1			129	8
Sales	(4)			(1)			(269)	(3)
Net transfers	(3)			0			0	0
Ending balance	127	78		10	11		127	10
Unrealized gains (losses)	(3)			0			0	0
State and municipal securities
Assets at Fair value
Beginning balance	4		0	0		1	0	1
Purchases	0			0			4	0
Sales	(4)			0			(4)	0
Net transfers	0			0			0	(1)
Ending balance	0	4		0	0		0	0
Unrealized gains (losses)	0			0			0	0
MABS
Assets at Fair value
Beginning balance	357		322	379		438	322	438
Realized and unrealized gains (losses)	11			13			67	(60)
Purchases	96			13			263	172
Sales	(23)			(54)			(216)	(162)
Net transfers	(75)			92			(70)	55
Ending balance	366	357		443	379		366	443
Unrealized gains (losses)	11			8			8	(35)
Loans and lending commitments
Assets at Fair value
Beginning balance	4,896		5,759	4,068		5,073	5,759	5,073
Realized and unrealized gains (losses)	47			20			33	(161)
Purchases and originations	1,373			846			2,467	1,926
Sales	(768)			(725)			(2,314)	(1,139)
Settlements	(414)			(285)			(1,082)	(1,907)
Net transfers	(830)			427			(559)	559
Ending balance	4,304	4,896		4,351	4,068		4,304	4,351
Unrealized gains (losses)	21			27			(5)	(137)
Liabilities at Fair Value
Transfers of equity margin loans from Level 2 into Level 3					707	857
Transfers from Level 3 to Level 2	895
Corporate and other debt
Assets at Fair value
Beginning balance	1,801		3,435	2,686		1,396	3,435	1,396
Realized and unrealized gains (losses)	173			(107)			(151)	(184)
Purchases and originations	639			451			1,505	2,217
Sales	(594)			(325)			(1,698)	(425)
Settlements	0			0			0	(311)
Net transfers	(456)			22			(1,528)	34
Ending balance	1,563	1,801		2,727	2,686		1,563	2,727
Unrealized gains (losses)	173			(96)			10	(186)
Liabilities at Fair Value
Transfers from Level 3 to Level 2		2,000
Corporate equities
Assets at Fair value
Beginning balance	150		86	83		97	86	97
Realized and unrealized gains (losses)	4			32			(15)	0
Purchases	83			32			367	42
Sales	(7)			(27)			(193)	(27)
Net transfers	(16)			15			(31)	23
Ending balance	214	150		135	83		214	135
Unrealized gains (losses)	4			39			(5)	14
Investments
Assets at Fair value
Beginning balance	978		828	759		858	828	858
Realized and unrealized gains (losses)	18			55			58	(6)
Purchases	59			7			150	37
Sales	(23)			(16)			(46)	(37)
Net transfers	(251)			16			(209)	(31)
Ending balance	781	978		821	759		781	821
Unrealized gains (losses)	13			44			39	(19)
Investment securities —AFS
Assets at Fair value
Beginning balance	0		2,804	0		0	2,804	0
Realized and unrealized gains (losses)	0			0			(4)	0
Sales	0			0			(203)	0
Net transfers	0			0			(2,597)	0
Ending balance	0	0		0	0		0	0
Unrealized gains (losses)	0			0			0	0
Liabilities at Fair Value
Transfers from Level 3 to Level 2			2,500
Securities purchased under agreements to resell
Assets at Fair value
Beginning balance	0		$ 3	0		$ 0	3	0
Net transfers	0			0			(3)	0
Ending balance	0	$ 0		0	$ 0		0	0
Unrealized gains (losses)	$ 0			$ 0			$ 0	$ 0

Fair Values - Valuation Techniq

Fair Values - Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements (Details) $ in Millions	Sep. 30, 2021USD ($)$ / MWh	Dec. 31, 2020USD ($)$ / MWh
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investment securities - AFS at fair value	$ 101,594	$ 110,383
Derivative assets	43,399	37,850
Deposits	2,010	3,521
Securities sold under agreements to repurchase	928	1,115
Other secured financings	10,272	15,863
Borrowings	75,752	73,701
Recurring
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings	75,752	73,701
Recurring | Loans and lending commitments
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets	14,915	11,148
Nonrecurring
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans	4,913	5,700
Level 3 | Recurring
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Corporate equities	214	86
Investments	781	828
Investment securities - AFS at fair value	0	2,804
Derivative assets	4,445	4,912
Deposits	62	126
Trading liabilities	3,319	4,721
Securities sold under agreements to repurchase	448	444
Other secured financings	395	516
Borrowings	2,056	4,374
Level 3 | Recurring | Corporate equities
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Trading liabilities	$ 34	$ 63
Level 3 | Recurring | Comparable Pricing | Equity Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Corporate equities, measurement input value	1	1
Level 3 | Recurring | Comparable Pricing | Equity Price | Corporate equities
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Corporate equities, measurement input value	1	1
Level 3 | Recurring | Other sovereign government obligations
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets	$ 127	$ 268
Level 3 | Recurring | Other sovereign government obligations | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value		1.06
Level 3 | Recurring | MABS
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets	366	$ 322
Level 3 | Recurring | Loans and lending commitments
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets	4,304	5,759
Level 3 | Recurring | Corporate and other debt
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets	1,563	3,435
Level 3 | Recurring | Interest rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets	796	$ 682
Level 3 | Recurring | Interest rate | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.01
Level 3 | Recurring | Credit
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets	$ (34)	$ 49
Level 3 | Recurring | Credit | Credit Default Swap Model | Cash-Synthetic Basis
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0007	0.0007
Level 3 | Recurring | Foreign exchange
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets	$ 97	$ 61
Level 3 | Recurring | Equity
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets	(1,000)	(2,231)
Level 3 | Recurring | Commodity and other
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets	$ 1,309	$ 1,709
Level 3 | Recurring | Minimum | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investment securities - AFS at fair value, measurement input value		0.97
Level 3 | Recurring | Minimum | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Other secured financings, measurement input value	0.0030	0.0030
Loans, measurement input value	0.0048
Level 3 | Recurring | Minimum | Comparable Pricing | Equity Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	0.43	0.45
Level 3 | Recurring | Minimum | Discounted Cash Flow | WACC
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	0.10	0.08
Level 3 | Recurring | Minimum | Discounted Cash Flow | Exit Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	8	7
Level 3 | Recurring | Minimum | Discounted Cash Flow | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Securities sold under agreement to repurchase, measurement input value	0.0116	0.0107
Other secured financings, measurement input value		0.0111
Level 3 | Recurring | Minimum | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Deposits, measurement input value	0.07	0.07
Borrowings, measurement input value	0.07	0.06
Level 3 | Recurring | Minimum | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.27)	(0.28)
Level 3 | Recurring | Minimum | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.01)	(0.02)
Level 3 | Recurring | Minimum | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0.39	0.37
Level 3 | Recurring | Minimum | Option Model | Equity - FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.60)	(0.72)
Level 3 | Recurring | Minimum | Market Approach | EBITDA Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	8	8
Level 3 | Recurring | Minimum | Other sovereign government obligations | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.96
Level 3 | Recurring | Minimum | MABS | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0	0
Level 3 | Recurring | Minimum | Loans and lending commitments | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	91	75
Level 3 | Recurring | Minimum | Loans and lending commitments | Margin Loan Model | Margin Loan Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.01	0.01
Level 3 | Recurring | Minimum | Corporate and other debt | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	90	10
Level 3 | Recurring | Minimum | Corporate and other debt | Discounted Cash Flow | Recovery Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.40	0.40
Borrowings, measurement input value	0.40
Level 3 | Recurring | Minimum | Corporate and other debt | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.22	0.18
Level 3 | Recurring | Minimum | Interest rate | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.33	0
Level 3 | Recurring | Minimum | Interest rate | Option Model | IR Curve Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.65	0.54
Level 3 | Recurring | Minimum | Interest rate | Option Model | Bond Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.05	0.06
Level 3 | Recurring | Minimum | Interest rate | Option Model | Inflation Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.25	0.25
Level 3 | Recurring | Minimum | Interest rate | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.02
Level 3 | Recurring | Minimum | Credit | Credit Default Swap Model | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0	0
Level 3 | Recurring | Minimum | Credit | Credit Default Swap Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0014	0.0020
Level 3 | Recurring | Minimum | Credit | Credit Default Swap Model | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0018	0.0065
Level 3 | Recurring | Minimum | Credit | Correlation Model | Credit Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.23	0.27
Level 3 | Recurring | Minimum | Foreign exchange | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.33	0
Level 3 | Recurring | Minimum | Foreign exchange | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.07	0.06
Level 3 | Recurring | Minimum | Foreign exchange | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.53	0.55
Level 3 | Recurring | Minimum | Foreign exchange | Option Model | Foreign Exchange Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.04)	(0.22)
Level 3 | Recurring | Minimum | Foreign exchange | Option Model | Contingency Probability
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.95	0.50
Level 3 | Recurring | Minimum | Equity | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.05	0.16
Level 3 | Recurring | Minimum | Equity | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.04)	(0.03)
Level 3 | Recurring | Minimum | Equity | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.05	0.24
Level 3 | Recurring | Minimum | Equity | Option Model | FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.85)	(0.79)
Level 3 | Recurring | Minimum | Equity | Option Model | IR Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.13)	(0.13)
Level 3 | Recurring | Minimum | Commodity and other | Option Model | Forward Power Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value | $ / MWh	1	(1)
Level 3 | Recurring | Minimum | Commodity and other | Option Model | Commodity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.08	0.08
Level 3 | Recurring | Minimum | Commodity and other | Option Model | Cross-Commodity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.43	0.43
Level 3 | Recurring | Maximum | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investment securities - AFS at fair value, measurement input value		1.07
Level 3 | Recurring | Maximum | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Other secured financings, measurement input value	0.0100	0.0101
Loans, measurement input value	0.0080
Level 3 | Recurring | Maximum | Comparable Pricing | Equity Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	1	1
Level 3 | Recurring | Maximum | Discounted Cash Flow | WACC
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	0.16	0.18
Level 3 | Recurring | Maximum | Discounted Cash Flow | Exit Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	17	17
Level 3 | Recurring | Maximum | Discounted Cash Flow | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Securities sold under agreement to repurchase, measurement input value	0.0122	0.0127
Other secured financings, measurement input value		0.0111
Level 3 | Recurring | Maximum | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Deposits, measurement input value		0.22
Borrowings, measurement input value	0.51	0.66
Level 3 | Recurring | Maximum | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0.07	0.06
Level 3 | Recurring | Maximum | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0	0
Level 3 | Recurring | Maximum | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0.98	0.95
Level 3 | Recurring | Maximum | Option Model | Equity - FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0.10	0.13
Level 3 | Recurring | Maximum | Market Approach | EBITDA Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	29	32
Level 3 | Recurring | Maximum | Other sovereign government obligations | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	1.52
Level 3 | Recurring | Maximum | MABS | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.86	0.80
Level 3 | Recurring | Maximum | Loans and lending commitments | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	102	102
Level 3 | Recurring | Maximum | Loans and lending commitments | Margin Loan Model | Margin Loan Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.04	0.05
Level 3 | Recurring | Maximum | Corporate and other debt | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	110	133
Level 3 | Recurring | Maximum | Corporate and other debt | Discounted Cash Flow | Recovery Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.62	0.62
Borrowings, measurement input value	0.62
Level 3 | Recurring | Maximum | Corporate and other debt | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	1.34	0.21
Level 3 | Recurring | Maximum | Interest rate | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.99	3.49
Level 3 | Recurring | Maximum | Interest rate | Option Model | IR Curve Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.98	0.99
Level 3 | Recurring | Maximum | Interest rate | Option Model | Bond Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.14	0.24
Level 3 | Recurring | Maximum | Interest rate | Option Model | Inflation Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.65	0.66
Level 3 | Recurring | Maximum | Credit | Credit Default Swap Model | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0083	0.0085
Level 3 | Recurring | Maximum | Credit | Credit Default Swap Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0463	0.0435
Level 3 | Recurring | Maximum | Credit | Credit Default Swap Model | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0095	0.0118
Level 3 | Recurring | Maximum | Credit | Correlation Model | Credit Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.39	0.44
Level 3 | Recurring | Maximum | Foreign exchange | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.99	3.49
Level 3 | Recurring | Maximum | Foreign exchange | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.08
Level 3 | Recurring | Maximum | Foreign exchange | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.57	0.59
Level 3 | Recurring | Maximum | Foreign exchange | Option Model | Foreign Exchange Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.02)	0.28
Level 3 | Recurring | Maximum | Foreign exchange | Option Model | Contingency Probability
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.95
Level 3 | Recurring | Maximum | Equity | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.92	0.97
Level 3 | Recurring | Maximum | Equity | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0	0
Level 3 | Recurring | Maximum | Equity | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.99	0.96
Level 3 | Recurring | Maximum | Equity | Option Model | FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.50	0.60
Level 3 | Recurring | Maximum | Equity | Option Model | IR Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.35	0.47
Level 3 | Recurring | Maximum | Commodity and other | Option Model | Forward Power Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value | $ / MWh	248	157
Level 3 | Recurring | Maximum | Commodity and other | Option Model | Commodity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	2.12	1.83
Level 3 | Recurring | Maximum | Commodity and other | Option Model | Cross-Commodity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	1	0.99
Level 3 | Recurring | Weighted Average | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investment securities - AFS at fair value, measurement input value		1.01
Level 3 | Recurring | Weighted Average | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Other secured financings, measurement input value	0.0083	0.0056
Loans, measurement input value	0.0063
Level 3 | Recurring | Weighted Average | Comparable Pricing | Equity Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	0.99	0.99
Level 3 | Recurring | Weighted Average | Discounted Cash Flow | WACC
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	0.15	0.15
Level 3 | Recurring | Weighted Average | Discounted Cash Flow | Exit Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	12	12
Level 3 | Recurring | Weighted Average | Discounted Cash Flow | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Securities sold under agreement to repurchase, measurement input value	0.0119	0.0115
Other secured financings, measurement input value		0.0111
Level 3 | Recurring | Weighted Average | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Deposits, measurement input value		0.08
Borrowings, measurement input value	0.19	0.23
Level 3 | Recurring | Weighted Average | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0	0
Level 3 | Recurring | Weighted Average | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	0.91	0.78
Level 3 | Recurring | Weighted Average | Option Model | Equity - FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.16)	(0.24)
Level 3 | Recurring | Weighted Average | Market Approach | EBITDA Multiple
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Investments, measurement input value	10	11
Level 3 | Recurring | Weighted Average | Other sovereign government obligations | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	1.25
Level 3 | Recurring | Weighted Average | MABS | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.53	0.50
Level 3 | Recurring | Weighted Average | Loans and lending commitments | Comparable Pricing | Loan Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	99	93
Level 3 | Recurring | Weighted Average | Loans and lending commitments | Margin Loan Model | Margin Loan Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.03	0.03
Level 3 | Recurring | Weighted Average | Corporate and other debt | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	99	101
Level 3 | Recurring | Weighted Average | Corporate and other debt | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.70	0.19
Level 3 | Recurring | Weighted Average | Credit | Credit Default Swap Model | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0046	0.0047
Level 3 | Recurring | Weighted Average | Credit | Credit Default Swap Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0074	0.0074
Level 3 | Recurring | Weighted Average | Credit | Credit Default Swap Model | Funding Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.0060	0.0086
Level 3 | Recurring | Weighted Average | Credit | Correlation Model | Credit Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.26	0.32
Level 3 | Recurring | Weighted Average | Equity | Option Model | Equity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.23	0.43
Level 3 | Recurring | Weighted Average | Equity | Option Model | Equity Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.01)	(0.01)
Level 3 | Recurring | Weighted Average | Equity | Option Model | Equity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.74	0.74
Level 3 | Recurring | Weighted Average | Equity | Option Model | FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.33)	(0.16)
Level 3 | Recurring | Weighted Average | Commodity and other | Option Model | Forward Power Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value | $ / MWh	39	28
Level 3 | Recurring | Weighted Average | Commodity and other | Option Model | Commodity Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.24	0.19
Level 3 | Recurring | Weighted Average | Commodity and other | Option Model | Cross-Commodity Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.94	0.92
Level 3 | Recurring | Average | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.05)	(0.06)
Level 3 | Recurring | Average | Corporate and other debt | Discounted Cash Flow | Recovery Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.46	0.46
Borrowings, measurement input value	0.46
Level 3 | Recurring | Average | Interest rate | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.60	0.62
Level 3 | Recurring | Average | Interest rate | Option Model | IR Curve Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.83	0.87
Level 3 | Recurring | Average | Interest rate | Option Model | Bond Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.07	0.13
Level 3 | Recurring | Average | Interest rate | Option Model | Inflation Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.45	0.45
Level 3 | Recurring | Average | Foreign exchange | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.60	0.62
Level 3 | Recurring | Average | Foreign exchange | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.07
Level 3 | Recurring | Average | Foreign exchange | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.55	0.56
Level 3 | Recurring | Average | Foreign exchange | Option Model | Foreign Exchange Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.03)	0.03
Level 3 | Recurring | Average | Foreign exchange | Option Model | Contingency Probability
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.83
Level 3 | Recurring | Average | Equity | Option Model | IR Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.15	0.21
Level 3 | Recurring | Median | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Borrowings, measurement input value	(0.05)	(0.06)
Level 3 | Recurring | Median | Corporate and other debt | Discounted Cash Flow | Recovery Rate
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Debt securities, trading assets, measurement input value	0.40	0.40
Borrowings, measurement input value	0.40
Level 3 | Recurring | Median | Interest rate | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.59	0.59
Level 3 | Recurring | Median | Interest rate | Option Model | IR Curve Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.83	0.89
Level 3 | Recurring | Median | Interest rate | Option Model | Bond Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.06	0.13
Level 3 | Recurring | Median | Interest rate | Option Model | Inflation Volatility
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.43	0.43
Level 3 | Recurring | Median | Foreign exchange | Option Model | IR Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.59	0.59
Level 3 | Recurring | Median | Foreign exchange | Option Model | IR Curve
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.08
Level 3 | Recurring | Median | Foreign exchange | Option Model | IR FX Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	0.55	0.56
Level 3 | Recurring | Median | Foreign exchange | Option Model | Foreign Exchange Volatility Skew
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value	(0.03)	0.01
Level 3 | Recurring | Median | Foreign exchange | Option Model | Contingency Probability
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.93
Level 3 | Recurring | Median | Equity | Option Model | IR Correlation
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Derivative assets, measurement input value		0.20
Level 3 | Nonrecurring
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans	$ 1,603	$ 3,134
Level 3 | Nonrecurring | Minimum | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value		0.0088
Level 3 | Nonrecurring | Minimum | Corporate Loan Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0095	0.0036
Level 3 | Nonrecurring | Minimum | Warehouse Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0197	0.0200
Level 3 | Nonrecurring | Maximum | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value		0.0099
Level 3 | Nonrecurring | Maximum | Corporate Loan Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0562	0.0636
Level 3 | Nonrecurring | Maximum | Warehouse Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0450	0.0413
Level 3 | Nonrecurring | Weighted Average | Comparable Pricing | Bond Price
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value		0.0094
Level 3 | Nonrecurring | Weighted Average | Corporate Loan Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0298	0.0336
Level 3 | Nonrecurring | Weighted Average | Warehouse Model | Credit Spread
Valuation Techniques and Sensitivity of Unobservable Inputs Used in Level 3 Fair Value Measurements
Loans, measurement input value	0.0374	0.0368

Fair Values - Fund Interests Me

Fair Values - Fund Interests Measured Based on Net Asset Value (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Measured Based on Net Asset Value
Carrying Value	$ 4,356	$ 3,829
Commitment	898	780
Private equity
Measured Based on Net Asset Value
Carrying Value	2,430	2,367
Commitment	640	644
Real estate
Measured Based on Net Asset Value
Carrying Value	1,747	1,403
Commitment	255	136
Hedge
Measured Based on Net Asset Value
Carrying Value	179	59
Commitment	$ 3	$ 0

Fair Values - Nonredeemable Fun

Fair Values - Nonredeemable Funds by Contractual Maturity (Details) $ in Millions	Sep. 30, 2021USD ($)
Private equity
Carrying Value of Nonredeemable Funds by Contractual Maturity
Less than 5 years	$ 1,094
5-10 years	1,094
Over 10 years	242
Total	2,430
Real estate
Carrying Value of Nonredeemable Funds by Contractual Maturity
Less than 5 years	408
5-10 years	678
Over 10 years	661
Total	$ 1,747

Fair Values - Assets and Liab_2

Fair Values - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets at fair value
Loans	$ 4,913	$ 5,700
Other assets—Other investments	76	16
Other assets—ROU assets		21
Total	4,989	5,737
Liabilities at fair value
Other liabilities and accrued expenses—Lending commitments	223	265
Total	223	265
Level 2
Assets at fair value
Loans	3,310	2,566
Other assets—Other investments	0	0
Other assets—ROU assets		21
Total	3,310	2,587
Liabilities at fair value
Other liabilities and accrued expenses—Lending commitments	156	193
Total	156	193
Level 3
Assets at fair value
Loans	1,603	3,134
Other assets—Other investments	76	16
Other assets—ROU assets		0
Total	1,679	3,150
Liabilities at fair value
Other liabilities and accrued expenses—Lending commitments	67	72
Total	$ 67	$ 72

Fair Values - Gains (Losses) fr

Fair Values - Gains (Losses) from Nonrecurring Fair Value Remeasurements (Details) - Nonrecurring - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Assets
Fair Value Measurements
Net revenues	$ (34)	$ (75)	$ (155)	$ (557)
Loans
Fair Value Measurements
Net revenues	(22)	(43)	(75)	(467)
Goodwill
Fair Value Measurements
Net revenues	0	0	(8)	0
Intangibles
Fair Value Measurements
Net revenues	0	(1)	(3)	(1)
Other assets—Other investments
Fair Value Measurements
Net revenues	(2)	(2)	(55)	(54)
Other assets—Premises, equipment and software
Fair Value Measurements
Net revenues	(10)	(29)	(14)	(35)
Liabilities
Fair Value Measurements
Net revenues	(2)	25	34	(54)
Other liabilities and accrued expenses—Lending commitments
Fair Value Measurements
Net revenues	$ (2)	$ 25	$ 34	$ (54)

Fair Values - Financial Instrum

Fair Values - Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Financial assets
Securities borrowed	$ 125,922	$ 112,391
Customer and other receivables	98,353	97,737
Loans	160,191	137,784
Financial liabilities
Deposits	329,041	310,782
Securities sold under agreements to repurchase	61,987	50,587
Securities loaned	11,133	7,731
Other secured financings	10,272	15,863
Customer and other payables	240,319	227,437
Borrowings	229,762	217,079
Carrying Value
Financial assets
Cash and cash equivalents	123,863	105,654
Investment securities - HTM	81,837	71,771
Securities purchased under agreements to resell	119,714	116,219
Securities borrowed	125,922	112,391
Customer and other receivables	95,022	92,907
Loans	173,359	150,597
Other assets	528	485
Financial liabilities
Deposits	327,031	307,261
Securities sold under agreements to repurchase	61,059	49,472
Securities loaned	11,133	7,731
Other secured financings	4,658	4,162
Customer and other payables	240,293	224,951
Borrowings	154,010	143,378
Additional Disclosures
Lending commitments	136,040	125,498
Fair Value
Financial assets
Cash and cash equivalents	123,863	105,654
Investment securities - HTM	82,088	74,420
Securities purchased under agreements to resell	119,731	116,219
Securities borrowed	125,923	112,392
Customer and other receivables	94,920	92,873
Loans	174,583	151,912
Other assets	528	485
Financial liabilities
Deposits	327,384	307,807
Securities sold under agreements to repurchase	61,100	49,510
Securities loaned	11,131	7,731
Other secured financings	4,659	4,162
Customer and other payables	240,293	224,951
Borrowings	160,135	150,829
Additional Disclosures
Lending commitments	1,105	1,104
Fair Value | Level 1
Financial assets
Cash and cash equivalents	123,863	105,654
Investment securities - HTM	30,726	31,239
Securities purchased under agreements to resell	0	0
Securities borrowed	0	0
Customer and other receivables	0	0
Loans	0	0
Other assets	0	0
Financial liabilities
Deposits	0	0
Securities sold under agreements to repurchase	0	0
Securities loaned	0	0
Other secured financings	0	0
Customer and other payables	0	0
Borrowings	0	0
Additional Disclosures
Lending commitments	0	0
Fair Value | Level 2
Financial assets
Cash and cash equivalents	0	0
Investment securities - HTM	50,380	42,281
Securities purchased under agreements to resell	117,863	114,046
Securities borrowed	125,923	112,392
Customer and other receivables	91,571	89,832
Loans	23,242	16,635
Other assets	528	485
Financial liabilities
Deposits	327,384	307,807
Securities sold under agreements to repurchase	61,100	49,315
Securities loaned	11,131	7,731
Other secured financings	4,659	4,162
Customer and other payables	240,293	224,951
Borrowings	160,131	150,824
Additional Disclosures
Lending commitments	682	709
Fair Value | Level 3
Financial assets
Cash and cash equivalents	0	0
Investment securities - HTM	982	900
Securities purchased under agreements to resell	1,868	2,173
Securities borrowed	0	0
Customer and other receivables	3,349	3,041
Loans	151,341	135,277
Other assets	0	0
Financial liabilities
Deposits	0	0
Securities sold under agreements to repurchase	0	195
Securities loaned	0	0
Other secured financings	0	0
Customer and other payables	0	0
Borrowings	4	5
Additional Disclosures
Lending commitments	$ 423	$ 395

Fair Value Option - Borrowings

Fair Value Option - Borrowings Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Measurements
Borrowings at fair value	$ 75,752	$ 73,701
Recurring
Fair Value Measurements
Borrowings at fair value	75,752	73,701
Recurring | Equity
Fair Value Measurements
Borrowings at fair value	35,708	33,952
Recurring | Interest rates
Fair Value Measurements
Borrowings at fair value	29,213	31,222
Recurring | Commodities
Fair Value Measurements
Borrowings at fair value	7,968	5,078
Recurring | Credit
Fair Value Measurements
Borrowings at fair value	1,274	1,344
Recurring | Foreign exchange
Fair Value Measurements
Borrowings at fair value	$ 1,589	$ 2,105

Fair Value Option - Net Revenue

Fair Value Option - Net Revenues from Borrowings under the Fair Value Option (Details) - Borrowings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value Option Quantitative Disclosures
Net revenues	$ 1,306	$ (1,532)	$ 703	$ (1,688)
Trading revenues
Fair Value Option Quantitative Disclosures
Net revenues	1,383	(1,455)	937	(1,447)
Interest expense
Fair Value Option Quantitative Disclosures
Net revenues	$ 77	$ 77	$ 234	$ 241

Fair Value Option - Gains (Loss

Fair Value Option - Gains (Losses) Due to Changes in Instrument-Specific Credit Risk (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair Value disclosure
Cumulative pre-tax DVA gain (loss) recognized in AOCI	$ (2,730)		$ (2,730)		$ (3,357)
Loans and other debt | Trading revenues
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	58	$ 56	311	$ (183)
Loans and other debt | OCI
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	0	0	0	0
Lending commitments | Trading revenues
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	(3)	(3)	(2)	(2)
Lending commitments | OCI
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	0	0	0	0
Deposits | Trading revenues
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	0	0	0	0
Deposits | OCI
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	6	(19)	15	(10)
Borrowings | Trading revenues
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	(9)	(8)	(36)	(14)
Borrowings | OCI
Fair Value disclosure
Gains (losses) due to changes in instrument-specific credit risk	$ 190	$ (720)	$ 612	$ 991

Fair Value Option - Difference

Fair Value Option - Difference Between Contractual Principal and Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Loans and other debt	$ 13,053	$ 14,042
Nonaccrual loans	10,732	11,551
Borrowings	$ (2,382)	$ (3,773)

Fair Value Option - Fair Value

Fair Value Option - Fair Value Loans on Nonaccrual Status (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Nonaccrual loans	$ 943	$ 1,407
Nonaccrual loans 90 or more days past due	$ 321	$ 239

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Fair Values of Derivative Contracts (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Derivative Assets
Total gross derivatives	$ 359,966	$ 418,179
Amounts offset against counterparty netting	(269,645)	(323,543)
Amounts offset against cash collateral netting	(46,922)	(56,786)
Total in Trading assets	43,399	37,850
Amounts not offset against financial instruments collateral	(12,419)	(13,319)
Amounts not offset against other cash collateral		(391)
Net amounts	30,980	24,140
Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable	4,385	3,743
Derivative Liabilities
Total gross derivatives	351,919	420,416
Amounts offset against counterparty netting	(269,645)	(323,543)
Amounts offset against cash collateral netting	(43,558)	(51,935)
Total in Trading liabilities	38,716	44,938
Amounts not offset against financial instruments collateral	(7,233)	(12,118)
Amounts not offset against other cash collateral		(65)
Net amounts	31,483	32,755
Net amounts for which master netting or collateral agreements are not in place or may not be legally enforceable	7,103	6,746
Designated as accounting hedges
Derivative Assets
Total gross derivatives	747	955
Derivative Liabilities
Total gross derivatives	27	409
Designated as accounting hedges | Interest rate
Derivative Assets
Total gross derivatives	587	948
Derivative Liabilities
Total gross derivatives	0	19
Designated as accounting hedges | Foreign exchange
Derivative Assets
Total gross derivatives	160	7
Derivative Liabilities
Total gross derivatives	27	390
Not designated as accounting hedges
Derivative Assets
Total gross derivatives	359,219	417,224
Derivative Liabilities
Total gross derivatives	351,892	420,007
Economic loan hedges | Credit
Derivative Assets
Total gross derivatives	17	53
Derivative Liabilities
Total gross derivatives	244	195
Other derivatives | Interest rate
Derivative Assets
Total gross derivatives	162,270	232,538
Derivative Liabilities
Total gross derivatives	151,954	218,619
Other derivatives | Credit
Derivative Assets
Total gross derivatives	9,556	7,488
Derivative Liabilities
Total gross derivatives	9,971	7,957
Other derivatives | Foreign exchange
Derivative Assets
Total gross derivatives	73,483	94,052
Derivative Liabilities
Total gross derivatives	69,549	94,518
Other derivatives | Equity
Derivative Assets
Total gross derivatives	71,170	68,444
Derivative Liabilities
Total gross derivatives	82,986	86,528
Other derivatives | Commodity and other
Derivative Assets
Total gross derivatives	42,723	14,649
Derivative Liabilities
Total gross derivatives	37,188	12,190
Bilateral OTC
Derivative Assets
Total gross derivatives	290,602	365,896
Amounts offset against counterparty netting	(205,701)	(276,682)
Amounts offset against cash collateral netting	(45,163)	(54,921)
Total in Trading assets	39,738	34,293
Amounts not offset against financial instruments collateral	(12,419)	(13,319)
Amounts not offset against other cash collateral		(391)
Net amounts	27,319	20,583
Derivative Liabilities
Total gross derivatives	281,012	367,348
Amounts offset against counterparty netting	(205,701)	(276,682)
Amounts offset against cash collateral netting	(42,471)	(51,112)
Total in Trading liabilities	32,840	39,554
Amounts not offset against financial instruments collateral	(6,226)	(10,598)
Amounts not offset against other cash collateral		(62)
Net amounts	26,614	28,894
Bilateral OTC | Designated as accounting hedges
Derivative Assets
Total gross derivatives	723	951
Derivative Liabilities
Total gross derivatives	7	291
Bilateral OTC | Designated as accounting hedges | Interest rate
Derivative Assets
Total gross derivatives	578	946
Derivative Liabilities
Total gross derivatives	0	0
Bilateral OTC | Designated as accounting hedges | Foreign exchange
Derivative Assets
Total gross derivatives	145	5
Derivative Liabilities
Total gross derivatives	7	291
Bilateral OTC | Not designated as accounting hedges
Derivative Assets
Total gross derivatives	289,879	364,945
Derivative Liabilities
Total gross derivatives	281,005	367,057
Bilateral OTC | Economic loan hedges | Credit
Derivative Assets
Total gross derivatives	1	2
Derivative Liabilities
Total gross derivatives	15	18
Bilateral OTC | Other derivatives | Interest rate
Derivative Assets
Total gross derivatives	154,421	221,895
Derivative Liabilities
Total gross derivatives	144,921	210,015
Bilateral OTC | Other derivatives | Credit
Derivative Assets
Total gross derivatives	5,624	5,341
Derivative Liabilities
Total gross derivatives	5,508	5,275
Bilateral OTC | Other derivatives | Foreign exchange
Derivative Assets
Total gross derivatives	72,129	92,334
Derivative Liabilities
Total gross derivatives	68,163	92,975
Bilateral OTC | Other derivatives | Equity
Derivative Assets
Total gross derivatives	29,159	34,278
Derivative Liabilities
Total gross derivatives	39,690	49,943
Bilateral OTC | Other derivatives | Commodity and other
Derivative Assets
Total gross derivatives	28,545	11,095
Derivative Liabilities
Total gross derivatives	22,708	8,831
Cleared OTC
Derivative Assets
Total gross derivatives	12,901	14,184
Amounts offset against counterparty netting	(11,014)	(11,601)
Amounts offset against cash collateral netting	(1,759)	(1,865)
Total in Trading assets	128	718
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral		0
Net amounts	128	718
Derivative Liabilities
Total gross derivatives	12,729	12,442
Amounts offset against counterparty netting	(11,014)	(11,601)
Amounts offset against cash collateral netting	(1,087)	(823)
Total in Trading liabilities	628	18
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral		(3)
Net amounts	628	15
Cleared OTC | Designated as accounting hedges
Derivative Assets
Total gross derivatives	24	4
Derivative Liabilities
Total gross derivatives	20	118
Cleared OTC | Designated as accounting hedges | Interest rate
Derivative Assets
Total gross derivatives	9	2
Derivative Liabilities
Total gross derivatives	0	19
Cleared OTC | Designated as accounting hedges | Foreign exchange
Derivative Assets
Total gross derivatives	15	2
Derivative Liabilities
Total gross derivatives	20	99
Cleared OTC | Not designated as accounting hedges
Derivative Assets
Total gross derivatives	12,877	14,180
Derivative Liabilities
Total gross derivatives	12,709	12,324
Cleared OTC | Economic loan hedges | Credit
Derivative Assets
Total gross derivatives	16	51
Derivative Liabilities
Total gross derivatives	229	177
Cleared OTC | Other derivatives | Interest rate
Derivative Assets
Total gross derivatives	7,628	10,343
Derivative Liabilities
Total gross derivatives	6,683	7,965
Cleared OTC | Other derivatives | Credit
Derivative Assets
Total gross derivatives	3,932	2,147
Derivative Liabilities
Total gross derivatives	4,463	2,682
Cleared OTC | Other derivatives | Foreign exchange
Derivative Assets
Total gross derivatives	1,301	1,639
Derivative Liabilities
Total gross derivatives	1,334	1,500
Cleared OTC | Other derivatives | Equity
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Cleared OTC | Other derivatives | Commodity and other
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded
Derivative Assets
Total gross derivatives	56,463	38,099
Amounts offset against counterparty netting	(52,930)	(35,260)
Amounts offset against cash collateral netting	0	0
Total in Trading assets	3,533	2,839
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral		0
Net amounts	3,533	2,839
Derivative Liabilities
Total gross derivatives	58,178	40,626
Amounts offset against counterparty netting	(52,930)	(35,260)
Amounts offset against cash collateral netting	0	0
Total in Trading liabilities	5,248	5,366
Amounts not offset against financial instruments collateral	(1,007)	(1,520)
Amounts not offset against other cash collateral		0
Net amounts	4,241	3,846
Exchange- Traded | Designated as accounting hedges
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded | Designated as accounting hedges | Interest rate
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded | Designated as accounting hedges | Foreign exchange
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded | Not designated as accounting hedges
Derivative Assets
Total gross derivatives	56,463	38,099
Derivative Liabilities
Total gross derivatives	58,178	40,626
Exchange- Traded | Economic loan hedges | Credit
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded | Other derivatives | Interest rate
Derivative Assets
Total gross derivatives	221	300
Derivative Liabilities
Total gross derivatives	350	639
Exchange- Traded | Other derivatives | Credit
Derivative Assets
Total gross derivatives	0	0
Derivative Liabilities
Total gross derivatives	0	0
Exchange- Traded | Other derivatives | Foreign exchange
Derivative Assets
Total gross derivatives	53	79
Derivative Liabilities
Total gross derivatives	52	43
Exchange- Traded | Other derivatives | Equity
Derivative Assets
Total gross derivatives	42,011	34,166
Derivative Liabilities
Total gross derivatives	43,296	36,585
Exchange- Traded | Other derivatives | Commodity and other
Derivative Assets
Total gross derivatives	14,178	3,554
Derivative Liabilities
Total gross derivatives	$ 14,480	$ 3,359

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Notionals of Derivative Contracts (Details) - USD ($) $ in Billions	Sep. 30, 2021	Dec. 31, 2020
Derivatives, Notional Amount
Derivative assets	$ 17,474	$ 15,706
Derivative liabilities	17,710	16,280
Designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	120	131
Derivative liabilities	104	94
Designated as accounting hedges | Interest rate
Derivatives, Notional Amount
Derivative assets	107	129
Derivative liabilities	99	80
Designated as accounting hedges | Foreign exchange
Derivatives, Notional Amount
Derivative assets	13	2
Derivative liabilities	5	14
Not designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	17,354	15,575
Derivative liabilities	17,606	16,186
Economic loan hedges | Credit
Derivatives, Notional Amount
Derivative assets	0	1
Derivative liabilities	7	6
Other derivatives | Interest rate
Derivatives, Notional Amount
Derivative assets	12,344	11,202
Derivative liabilities	12,408	11,426
Other derivatives | Credit
Derivatives, Notional Amount
Derivative assets	343	227
Derivative liabilities	344	235
Other derivatives | Foreign exchange
Derivatives, Notional Amount
Derivative assets	3,461	3,159
Derivative liabilities	3,337	3,293
Other derivatives | Equity
Derivatives, Notional Amount
Derivative assets	981	811
Derivative liabilities	1,304	1,065
Other derivatives | Commodity and other
Derivatives, Notional Amount
Derivative assets	225	175
Derivative liabilities	206	161
Bilateral OTC
Derivatives, Notional Amount
Derivative assets	8,092	7,592
Derivative liabilities	8,018	7,901
Bilateral OTC | Designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	16	8
Derivative liabilities	3	11
Bilateral OTC | Designated as accounting hedges | Interest rate
Derivatives, Notional Amount
Derivative assets	4	6
Derivative liabilities	0	0
Bilateral OTC | Designated as accounting hedges | Foreign exchange
Derivatives, Notional Amount
Derivative assets	12	2
Derivative liabilities	3	11
Bilateral OTC | Not designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	8,076	7,584
Derivative liabilities	8,015	7,890
Bilateral OTC | Economic loan hedges | Credit
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	1
Bilateral OTC | Other derivatives | Interest rate
Derivatives, Notional Amount
Derivative assets	3,836	3,847
Derivative liabilities	3,924	4,000
Bilateral OTC | Other derivatives | Credit
Derivatives, Notional Amount
Derivative assets	213	140
Derivative liabilities	204	142
Bilateral OTC | Other derivatives | Foreign exchange
Derivatives, Notional Amount
Derivative assets	3,363	3,046
Derivative liabilities	3,230	3,180
Bilateral OTC | Other derivatives | Equity
Derivatives, Notional Amount
Derivative assets	522	444
Derivative liabilities	538	474
Bilateral OTC | Other derivatives | Commodity and other
Derivatives, Notional Amount
Derivative assets	142	107
Derivative liabilities	119	93
Cleared OTC
Derivatives, Notional Amount
Derivative assets	8,273	7,260
Derivative liabilities	8,314	7,198
Cleared OTC | Designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	104	123
Derivative liabilities	101	83
Cleared OTC | Designated as accounting hedges | Interest rate
Derivatives, Notional Amount
Derivative assets	103	123
Derivative liabilities	99	80
Cleared OTC | Designated as accounting hedges | Foreign exchange
Derivatives, Notional Amount
Derivative assets	1	0
Derivative liabilities	2	3
Cleared OTC | Not designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	8,169	7,137
Derivative liabilities	8,213	7,115
Cleared OTC | Economic loan hedges | Credit
Derivatives, Notional Amount
Derivative assets	0	1
Derivative liabilities	7	5
Cleared OTC | Other derivatives | Interest rate
Derivatives, Notional Amount
Derivative assets	7,950	6,946
Derivative liabilities	7,979	6,915
Cleared OTC | Other derivatives | Credit
Derivatives, Notional Amount
Derivative assets	130	87
Derivative liabilities	140	93
Cleared OTC | Other derivatives | Foreign exchange
Derivatives, Notional Amount
Derivative assets	89	103
Derivative liabilities	87	102
Cleared OTC | Other derivatives | Equity
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Cleared OTC | Other derivatives | Commodity and other
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded
Derivatives, Notional Amount
Derivative assets	1,109	854
Derivative liabilities	1,378	1,181
Exchange- Traded | Designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded | Designated as accounting hedges | Interest rate
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded | Designated as accounting hedges | Foreign exchange
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded | Not designated as accounting hedges
Derivatives, Notional Amount
Derivative assets	1,109	854
Derivative liabilities	1,378	1,181
Exchange- Traded | Economic loan hedges | Credit
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded | Other derivatives | Interest rate
Derivatives, Notional Amount
Derivative assets	558	409
Derivative liabilities	505	511
Exchange- Traded | Other derivatives | Credit
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Exchange- Traded | Other derivatives | Foreign exchange
Derivatives, Notional Amount
Derivative assets	9	10
Derivative liabilities	20	11
Exchange- Traded | Other derivatives | Equity
Derivatives, Notional Amount
Derivative assets	459	367
Derivative liabilities	766	591
Exchange- Traded | Other derivatives | Commodity and other
Derivatives, Notional Amount
Derivative assets	83	68
Derivative liabilities	$ 87	$ 68

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Gains (Losses) on Accounting Hedges and Fair Value Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Investment Securities - AFS
Fair Value Hedges - Hedged Items
Amortized cost basis currently or previously hedged	$ 17,823		$ 17,823		$ 16,288
Basis adjustments included in amortized cost1	(459)		(459)		(39)
Deposits
Fair Value Hedges - Hedged Items
Amortized cost basis currently or previously hedged	4,672		4,672		15,059
Basis adjustments included in amortized cost1	20		20		93
Borrowings
Borrowings
Carrying amount currently or previously hedged	120,111		120,111		114,349
Basis adjustments included in carrying amount—Outstanding hedges	2,996		2,996		6,575
Basis adjustments included in carrying amount—Terminated hedges	(750)		(750)		$ (756)
Fair Value Hedges | Interest Income | Interest rate contracts
Gain (Loss) on Fair Value Hedges Recognized in Interest Expense
Gains (losses) recognized in Interest Expense	107	$ 12	607	$ (68)
Fair Value Hedges | Interest Income | Investment Securities - AFS
Gain (Loss) on Fair Value Hedges Recognized in Interest Expense
Gains (losses) recognized in Interest Expense	(82)	(11)	(509)	78
Fair Value Hedges | Interest expense | Interest rate contracts
Gain (Loss) on Fair Value Hedges Recognized in Interest Expense
Gains (losses) recognized in Interest Expense	(763)	(1,004)	(3,633)	5,908
Fair Value Hedges | Interest expense | Deposits
Gain (Loss) on Fair Value Hedges Recognized in Interest Expense
Gains (losses) recognized in Interest Expense	15	62	73	(153)
Fair Value Hedges | Interest expense | Borrowings
Gain (Loss) on Fair Value Hedges Recognized in Interest Expense
Gains (losses) recognized in Interest Expense	796	915	3,547	(5,844)
Net Investment Hedges | Foreign exchange
Net Investment Hedges
Recognized in OCI	225	(260)	524	54
Forward points excluded from hedge effectiveness testing—Recognized in Interest income	$ (19)	$ (6)	$ (32)	$ 19

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Economic Loan Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Credit derivatives | Economic loan hedges
Derivative [Line Items]
Gain (loss) on derivative recognized in Other Revenues	$ (21)	$ (58)	$ (170)	$ 77

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Net Derivative Liabilities and Collateral Posted (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net derivative liabilities with credit risk-related contingent features	$ 22,199	$ 30,421
Collateral posted	$ 15,433	$ 23,842

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - Incremental Collateral and Termination Payments upon Potential Future Ratings Downgrade (Details) $ in Millions	Sep. 30, 2021USD ($)
Bilateral Downgrade Agreement
Derivatives
Incremental collateral or termination payments upon potential future ratings downgrade	$ 587
One-notch downgrade
Derivatives
Incremental collateral or termination payments upon potential future ratings downgrade	264
Two-notch downgrade
Derivatives
Incremental collateral or termination payments upon potential future ratings downgrade	$ 434

Derivative Instruments and He_9

Derivative Instruments and Hedging Activities - Maximum Potential Payout/Notional of Credit Protection Sold (Details) - Credit Protection Sold - USD ($) $ in Billions	Sep. 30, 2021	Dec. 31, 2020
Credit Derivatives
Maximum potential payout/notional	$ 327	$ 223
CDS
Credit Derivatives
Maximum potential payout/notional	327	223
CDS protection sold with identical protection purchased	283	196
Single-name CDS
Credit Derivatives
Maximum potential payout/notional	113	105
Single-name CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	75	69
Single-name CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	38	36
Index and basket CDS
Credit Derivatives
Maximum potential payout/notional	214	118
Index and basket CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	131	60
Index and basket CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	83	58
Other credit contracts
Credit Derivatives
Maximum potential payout/notional	0	0
Less Than 1 (Year)
Credit Derivatives
Maximum potential payout/notional	23	24
Less Than 1 (Year) | CDS
Credit Derivatives
Maximum potential payout/notional	23	24
Less Than 1 (Year) | Single-name CDS
Credit Derivatives
Maximum potential payout/notional	14	16
Less Than 1 (Year) | Single-name CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	9	9
Less Than 1 (Year) | Single-name CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	5	7
Less Than 1 (Year) | Index and basket CDS
Credit Derivatives
Maximum potential payout/notional	9	8
Less Than 1 (Year) | Index and basket CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	2	2
Less Than 1 (Year) | Index and basket CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	7	6
Less Than 1 (Year) | Other credit contracts
Credit Derivatives
Maximum potential payout/notional	0	0
1 - 3 (Years)
Credit Derivatives
Maximum potential payout/notional	56	43
1 - 3 (Years) | CDS
Credit Derivatives
Maximum potential payout/notional	56	43
1 - 3 (Years) | Single-name CDS
Credit Derivatives
Maximum potential payout/notional	34	29
1 - 3 (Years) | Single-name CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	22	19
1 - 3 (Years) | Single-name CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	12	10
1 - 3 (Years) | Index and basket CDS
Credit Derivatives
Maximum potential payout/notional	22	14
1 - 3 (Years) | Index and basket CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	8	5
1 - 3 (Years) | Index and basket CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	14	9
1 - 3 (Years) | Other credit contracts
Credit Derivatives
Maximum potential payout/notional	0	0
3 - 5 (Years)
Credit Derivatives
Maximum potential payout/notional	167	117
3 - 5 (Years) | CDS
Credit Derivatives
Maximum potential payout/notional	167	117
3 - 5 (Years) | Single-name CDS
Credit Derivatives
Maximum potential payout/notional	46	49
3 - 5 (Years) | Single-name CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	30	32
3 - 5 (Years) | Single-name CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	16	17
3 - 5 (Years) | Index and basket CDS
Credit Derivatives
Maximum potential payout/notional	121	68
3 - 5 (Years) | Index and basket CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	84	39
3 - 5 (Years) | Index and basket CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	37	29
3 - 5 (Years) | Other credit contracts
Credit Derivatives
Maximum potential payout/notional	0	0
Over 5 (Years)
Credit Derivatives
Maximum potential payout/notional	81	39
Over 5 (Years) | CDS
Credit Derivatives
Maximum potential payout/notional	81	39
Over 5 (Years) | Single-name CDS
Credit Derivatives
Maximum potential payout/notional	19	11
Over 5 (Years) | Single-name CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	14	9
Over 5 (Years) | Single-name CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	5	2
Over 5 (Years) | Index and basket CDS
Credit Derivatives
Maximum potential payout/notional	62	28
Over 5 (Years) | Index and basket CDS | Investment grade
Credit Derivatives
Maximum potential payout/notional	37	14
Over 5 (Years) | Index and basket CDS | Non-investment grade
Credit Derivatives
Maximum potential payout/notional	25	14
Over 5 (Years) | Other credit contracts
Credit Derivatives
Maximum potential payout/notional	$ 0	$ 0

Derivative Instruments and H_10

Derivative Instruments and Hedging Activities - Fair Value Asset/(Liability) of Credit Protection Sold (Details) - Credit Protection Sold - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Credit Derivatives
Fair Value Asset (Liability)	$ 3,019	$ 1,223
CDS
Credit Derivatives
Fair Value Asset (Liability)	3,022	1,227
Single-name CDS
Credit Derivatives
Fair Value Asset (Liability)	1,514	1,208
Single-name CDS | Investment grade
Credit Derivatives
Fair Value Asset (Liability)	1,532	1,230
Single-name CDS | Non-investment grade
Credit Derivatives
Fair Value Asset (Liability)	(18)	(22)
Index and basket CDS
Credit Derivatives
Fair Value Asset (Liability)	1,508	19
Index and basket CDS | Investment grade
Credit Derivatives
Fair Value Asset (Liability)	1,590	843
Index and basket CDS | Non-investment grade
Credit Derivatives
Fair Value Asset (Liability)	(82)	(824)
Other credit contracts
Credit Derivatives
Fair Value Asset (Liability)	$ (3)	$ (4)

Derivative Instruments and H_11

Derivative Instruments and Hedging Activities - Protection Purchased with CDS (Details) - Protection Purchased - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Credit Derivatives
Notional	$ 367,000	$ 246,000
CDS
Credit Derivatives
Fair Value Asset (Liability)	(3,664)	(1,838)
Single name
Credit Derivatives
Notional	123,000	116,000
Fair Value Asset (Liability)	(1,811)	(1,452)
Index and basket
Credit Derivatives
Notional	228,000	116,000
Fair Value Asset (Liability)	(1,535)	(57)
Tranched index and basket
Credit Derivatives
Notional	16,000	14,000
Fair Value Asset (Liability)	$ (318)	$ (329)

Investment Securities - AFS and

Investment Securities - AFS and HTM Securities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
AFS securities
Amortized Cost	$ 100,621	$ 108,055
Gross Unrealized Gains	1,324	2,389
Gross Unrealized Losses	351	61
Fair  Value	101,594	110,383
HTM securities
Amortized Cost	81,837	71,771
Gross Unrealized Gains	1,404	2,659
Gross Unrealized Losses	1,153	10
Fair  Value	82,088	74,420
Amortized Cost	182,458	179,826
Gross Unrealized Gains	2,728	5,048
Gross Unrealized Losses	1,504	71
Fair  Value	183,682	184,803
U.S. Treasury securities
AFS securities
Amortized Cost	55,344	45,345
Gross Unrealized Gains	555	1,010
Gross Unrealized Losses	83	0
Fair  Value	55,816	46,355
HTM securities
Amortized Cost	29,684	29,346
Gross Unrealized Gains	1,103	1,893
Gross Unrealized Losses	61	0
Fair  Value	30,726	31,239
U.S. agency securities
AFS securities
Amortized Cost	28,383	37,389
Gross Unrealized Gains	386	762
Gross Unrealized Losses	188	25
Fair  Value	28,581	38,126
HTM securities
Amortized Cost	48,871	38,951
Gross Unrealized Gains	267	704
Gross Unrealized Losses	1,055	8
Fair  Value	48,083	39,647
Agency CMBS
AFS securities
Amortized Cost	14,881	19,982
Gross Unrealized Gains	342	465
Gross Unrealized Losses	65	9
Fair  Value	15,158	20,438
HTM securities
Amortized Cost	2,331	2,632
Gross Unrealized Gains	0	4
Gross Unrealized Losses	34	2
Fair  Value	2,297	2,634
Non-agency CMBS
HTM securities
Amortized Cost	951	842
Gross Unrealized Gains	34	58
Gross Unrealized Losses	3	0
Fair  Value	982	900
Corporate bonds
AFS securities
Amortized Cost		1,694
Gross Unrealized Gains		42
Gross Unrealized Losses		0
Fair  Value		1,736
State and municipal securities
AFS securities
Amortized Cost	285	1,461
Gross Unrealized Gains	26	103
Gross Unrealized Losses	6	1
Fair  Value	305	1,563
FFELP Student Loan ABS
AFS securities
Amortized Cost	1,728	1,735
Gross Unrealized Gains	15	7
Gross Unrealized Losses	9	26
Fair  Value	$ 1,734	1,716
HTM securities
Third party guarantees (as a percent)	95.00%
Other ABS
AFS securities
Amortized Cost		449
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair  Value		$ 449

Investment Securities - Investm

Investment Securities - Investment Securities in an Unrealized Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
AFS securities
AFS: Fair Value, Less than 12 Months	$ 37,582	$ 8,824
AFS: Fair Value, 12 Months or Longer	1,620	2,358
AFS: Fair Value, Total	39,202	11,182
AFS: Gross Unrealized Losses, Less than 12 Months	324	31
AFS: Gross Unrealized Losses, 12 Months or Longer	27	30
AFS: Gross Unrealized Losses, Total	351	61
U.S. Treasury securities
AFS securities
AFS: Fair Value, Less than 12 Months	23,587	151
AFS: Fair Value, Total	23,587	151
AFS: Gross Unrealized Losses, Less than 12 Months	83	0
AFS: Gross Unrealized Losses, Total	83	0
U.S. agency securities
AFS securities
AFS: Fair Value, Less than 12 Months	11,116	5,808
AFS: Fair Value, 12 Months or Longer	839	1,168
AFS: Fair Value, Total	11,955	6,976
AFS: Gross Unrealized Losses, Less than 12 Months	170	22
AFS: Gross Unrealized Losses, 12 Months or Longer	18	3
AFS: Gross Unrealized Losses, Total	188	25
Agency CMBS
AFS securities
AFS: Fair Value, Less than 12 Months	2,738	2,779
AFS: Fair Value, 12 Months or Longer	22	46
AFS: Fair Value, Total	2,760	2,825
AFS: Gross Unrealized Losses, Less than 12 Months	65	9
AFS: Gross Unrealized Losses, 12 Months or Longer	0	0
AFS: Gross Unrealized Losses, Total	65	9
Corporate bonds
AFS securities
AFS: Fair Value, 12 Months or Longer	0	31
AFS: Fair Value, Total	0	31
AFS: Gross Unrealized Losses, 12 Months or Longer	0	0
AFS: Gross Unrealized Losses, Total	0	0
State and municipal securities
AFS securities
AFS: Fair Value, Less than 12 Months	102	86
AFS: Fair Value, 12 Months or Longer	0	36
AFS: Fair Value, Total	102	122
AFS: Gross Unrealized Losses, Less than 12 Months	6	0
AFS: Gross Unrealized Losses, 12 Months or Longer	0	1
AFS: Gross Unrealized Losses, Total	6	1
FFELP Student Loan ABS
AFS securities
AFS: Fair Value, Less than 12 Months	39	0
AFS: Fair Value, 12 Months or Longer	759	1,077
AFS: Fair Value, Total	798	1,077
AFS: Gross Unrealized Losses, Less than 12 Months	0	0
AFS: Gross Unrealized Losses, 12 Months or Longer	9	26
AFS: Gross Unrealized Losses, Total	$ 9	$ 26

Investment Securities - Narrati

Investment Securities - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Non-agency CMBS
Schedule of Held-to-maturity Securities [Line Items]
Allowance for credit loss related to held-to-maturity securities	$ 35	$ 26

Investment Securities - Inves_2

Investment Securities - Investment Securities by Contractual Maturity (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Amortized Cost
AFS securities: Amortized cost, total	$ 100,621	$ 108,055
HTM securities: Net carrying amount, total	81,837
Investment securities: Amortized cost, total	182,458	179,826
Fair Value
AFS securities: Fair value, total	101,594	110,383
HTM securities: Fair value, total	82,088	74,420
Investment securities: Fair value, total	$ 183,682	184,803
Annualized Average Yield
AFS securities: Annualized average yield, total (as a percent)	1.30%
HTM securities: Annualized average yield, total (as a percent)	1.70%
Investment securities: Annualized average yield, total (as a percent)	1.50%
U.S. Treasury securities
Amortized Cost
AFS securities: Amortized cost, due within 1 year	$ 11,941
AFS securities: Amortized cost, after 1 year through 5 years	34,704
AFS securities: Amortized cost, after 5 years through 10 years	8,699
AFS securities: Amortized cost, total	55,344	45,345
HTM securities: Net carrying amount, due within 1 year	4,022
HTM securities: Net carrying amount, after 1 year through 5 years	18,673
HTM securities: Net carrying amount, after 5 year through 10 years	5,426
HTM securities: Net carrying amount, after 10 years	1,563
HTM securities: Net carrying amount, total	29,684
Fair Value
AFS securities: Fair value, due within 1 year	12,031
AFS securities: Fair value, after 1 year through 5 years	35,070
AFS securities: Fair value, after 5 years through 10 years	8,715
AFS securities: Fair value, total	55,816	46,355
HTM securities: Fair value, due within 1 year	4,058
HTM securities: Fair value, after 1 year through 5 years	19,217
HTM securities: Fair value, after 5 years through 10 years	5,811
HTM securities: Fair value, after 10 years	1,640
HTM securities: Fair value, total	$ 30,726	31,239
Annualized Average Yield
AFS securities: Annualized average yield, due within 1 year (as a percent)	1.40%
AFS securities: Annualized average yield, after 1 year through 5 years (as a percent)	1.10%
AFS securities: Annualized average yield, after 5 years through 10 years (as a percent)	1.20%
HTM securities: Annualized average yield, due within 1 year (as a percent)	1.90%
HTM securities: Annualized average yield, after 1 years through 5 years (as a percent)	1.70%
HTM securities: Annualized average yield, after 5 years through 10 years (as a percent)	2.40%
HTM securities: Annualized average yield, after 10 year (as a percent)	2.30%
U.S. agency securities
Amortized Cost
AFS securities: Amortized cost, due within 1 year	$ 3
AFS securities: Amortized cost, after 1 year through 5 years	132
AFS securities: Amortized cost, after 5 years through 10 years	1,402
AFS securities: Amortized cost, after 10 years	26,846
AFS securities: Amortized cost, total	28,383	37,389
HTM securities: Net carrying amount, after 5 year through 10 years	497
HTM securities: Net carrying amount, after 10 years	48,374
HTM securities: Net carrying amount, total	48,871
Fair Value
AFS securities: Fair value, due within 1 year	3
AFS securities: Fair value, after 1 year through 5 years	134
AFS securities: Fair value, after 5 years through 10 years	1,438
AFS securities: Fair value, after 10 years	27,006
AFS securities: Fair value, total	28,581	38,126
HTM securities: Fair value, after 5 years through 10 years	512
HTM securities: Fair value, after 10 years	47,571
HTM securities: Fair value, total	$ 48,083	39,647
Annualized Average Yield
AFS securities: Annualized average yield, due within 1 year (as a percent)	1.20%
AFS securities: Annualized average yield, after 1 year through 5 years (as a percent)	1.30%
AFS securities: Annualized average yield, after 5 years through 10 years (as a percent)	1.80%
AFS securities: Annualized average yield, after 10 years (as a percent)	1.50%
HTM securities: Annualized average yield, after 5 years through 10 years (as a percent)	2.00%
HTM securities: Annualized average yield, after 10 year (as a percent)	1.60%
Agency CMBS
Amortized Cost
AFS securities: Amortized cost, due within 1 year	$ 193
AFS securities: Amortized cost, after 1 year through 5 years	1,926
AFS securities: Amortized cost, after 5 years through 10 years	9,974
AFS securities: Amortized cost, after 10 years	2,788
AFS securities: Amortized cost, total	14,881	19,982
HTM securities: Net carrying amount, due within 1 year	46
HTM securities: Net carrying amount, after 1 year through 5 years	1,193
HTM securities: Net carrying amount, after 5 year through 10 years	939
HTM securities: Net carrying amount, after 10 years	153
HTM securities: Net carrying amount, total	2,331
Fair Value
AFS securities: Fair value, due within 1 year	194
AFS securities: Fair value, after 1 year through 5 years	1,964
AFS securities: Fair value, after 5 years through 10 years	10,257
AFS securities: Fair value, after 10 years	2,743
AFS securities: Fair value, total	15,158	20,438
HTM securities: Fair value, due within 1 year	46
HTM securities: Fair value, after 1 year through 5 years	1,181
HTM securities: Fair value, after 5 years through 10 years	922
HTM securities: Fair value, after 10 years	148
HTM securities: Fair value, total	$ 2,297	2,634
Annualized Average Yield
AFS securities: Annualized average yield, due within 1 year (as a percent)	1.70%
AFS securities: Annualized average yield, after 1 year through 5 years (as a percent)	1.70%
AFS securities: Annualized average yield, after 5 years through 10 years (as a percent)	1.60%
AFS securities: Annualized average yield, after 10 years (as a percent)	1.40%
HTM securities: Annualized average yield, due within 1 year (as a percent)	1.10%
HTM securities: Annualized average yield, after 1 years through 5 years (as a percent)	1.30%
HTM securities: Annualized average yield, after 5 years through 10 years (as a percent)	1.40%
HTM securities: Annualized average yield, after 10 year (as a percent)	1.50%
Non-agency CMBS
Amortized Cost
HTM securities: Net carrying amount, due within 1 year	$ 151
HTM securities: Net carrying amount, after 1 year through 5 years	61
HTM securities: Net carrying amount, after 5 year through 10 years	703
HTM securities: Net carrying amount, after 10 years	36
HTM securities: Net carrying amount, total	951
Fair Value
HTM securities: Fair value, due within 1 year	151
HTM securities: Fair value, after 1 year through 5 years	62
HTM securities: Fair value, after 5 years through 10 years	730
HTM securities: Fair value, after 10 years	39
HTM securities: Fair value, total	$ 982	900
Annualized Average Yield
HTM securities: Annualized average yield, due within 1 year (as a percent)	4.50%
HTM securities: Annualized average yield, after 1 years through 5 years (as a percent)	2.60%
HTM securities: Annualized average yield, after 5 years through 10 years (as a percent)	3.60%
HTM securities: Annualized average yield, after 10 year (as a percent)	4.40%
Corporate bonds
Amortized Cost
AFS securities: Amortized cost, total		1,694
Fair Value
AFS securities: Fair value, total		1,736
State and municipal securities
Amortized Cost
AFS securities: Amortized cost, due within 1 year	$ 4
AFS securities: Amortized cost, after 1 year through 5 years	22
AFS securities: Amortized cost, after 5 years through 10 years	49
AFS securities: Amortized cost, after 10 years	210
AFS securities: Amortized cost, total	285	1,461
Fair Value
AFS securities: Fair value, due within 1 year	4
AFS securities: Fair value, after 1 year through 5 years	22
AFS securities: Fair value, after 5 years through 10 years	58
AFS securities: Fair value, after 10 years	221
AFS securities: Fair value, total	$ 305	1,563
Annualized Average Yield
AFS securities: Annualized average yield, due within 1 year (as a percent)	1.90%
AFS securities: Annualized average yield, after 1 year through 5 years (as a percent)	1.80%
AFS securities: Annualized average yield, after 5 years through 10 years (as a percent)	2.10%
AFS securities: Annualized average yield, after 10 years (as a percent)	2.00%
FFELP Student Loan ABS
Amortized Cost
AFS securities: Amortized cost, due within 1 year	$ 31
AFS securities: Amortized cost, after 1 year through 5 years	183
AFS securities: Amortized cost, after 5 years through 10 years	148
AFS securities: Amortized cost, after 10 years	1,366
AFS securities: Amortized cost, total	1,728	1,735
Fair Value
AFS securities: Fair value, due within 1 year	31
AFS securities: Fair value, after 1 year through 5 years	180
AFS securities: Fair value, after 5 years through 10 years	144
AFS securities: Fair value, after 10 years	1,379
AFS securities: Fair value, total	$ 1,734	1,716
Annualized Average Yield
AFS securities: Annualized average yield, due within 1 year (as a percent)	0.80%
AFS securities: Annualized average yield, after 1 year through 5 years (as a percent)	0.90%
AFS securities: Annualized average yield, after 5 years through 10 years (as a percent)	0.70%
AFS securities: Annualized average yield, after 10 years (as a percent)	1.20%
Other ABS
Amortized Cost
AFS securities: Amortized cost, total		449
Fair Value
AFS securities: Fair value, total		$ 449

Investment Securities - Gross R

Investment Securities - Gross Realized Gains (Losses) on Sales of AFS Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AFS securities
Gross realized gains	$ 17	$ 55	$ 236	$ 120
Gross realized (losses)	0	0	(27)	(14)
Total	$ 17	$ 55	$ 209	$ 106

Collateralized Transactions - O

Collateralized Transactions - Offsetting of Certain Collateralized Transactions (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Securities purchased under agreements to resell
Gross Amounts	$ 215,672	$ 264,140
Amounts Offset	(95,951)	(147,906)
Balance Sheet Net Amounts	119,721	116,234
Amounts not offset	(116,787)	(114,108)
Net Amounts	2,934	2,126
Securities borrowed
Gross Amounts	136,731	124,921
Amounts Offset	(10,809)	(12,530)
Balance Sheet Net Amounts	125,922	112,391
Amounts not offset	(119,047)	(107,434)
Net Amounts	6,875	4,957
Securities sold under agreements to repurchase
Gross Amounts	157,938	198,493
Amounts Offset	(95,951)	(147,906)
Balance Sheet Net Amounts	61,987	50,587
Amounts not offset	(54,226)	(43,960)
Net Amounts	7,761	6,627
Securities loaned
Gross Amounts	21,942	20,261
Amounts Offset	(10,809)	(12,530)
Balance Sheet Net Amounts	11,133	7,731
Amounts not offset	(10,822)	(7,430)
Net Amounts	311	301
Net amounts for which master netting agreements are not in place or may not be legally enforceable
Securities purchased under agreements to resell	2,417	1,870
Securities borrowed	2,006	596
Securities sold under agreements to repurchase	7,167	6,282
Securities loaned	$ 173	$ 128

Collateralized Transactions - G

Collateralized Transactions - Gross Secured Financing Balances (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Gross Secured Financing Balances
Securities sold under agreements to repurchase	$ 157,938	$ 198,493
Securities loaned	21,942	20,261
Total included in the offsetting disclosure	179,880	218,754
Trading liabilities— Obligation to return securities received as collateral	22,528	16,389
Total	202,408	235,143
U.S. Treasury and agency securities
Gross Secured Financing Balances
Securities sold under agreements to repurchase	40,104	94,662
Other sovereign government obligations
Gross Secured Financing Balances
Securities sold under agreements to repurchase	83,996	71,140
Securities loaned	1,359	3,430
Corporate equities
Gross Secured Financing Balances
Securities sold under agreements to repurchase	24,508	24,692
Securities loaned	20,195	16,536
Trading liabilities— Obligation to return securities received as collateral	22,487	16,365
Other
Gross Secured Financing Balances
Securities sold under agreements to repurchase	9,330	7,999
Securities loaned	388	295
Trading liabilities— Obligation to return securities received as collateral	41	24
Overnight and Open
Gross Secured Financing Balances
Securities sold under agreements to repurchase	48,461	84,349
Securities loaned	12,675	15,267
Total included in the offsetting disclosure	61,136	99,616
Trading liabilities— Obligation to return securities received as collateral	22,528	16,389
Total	83,664	116,005
Less than 30 Days
Gross Secured Financing Balances
Securities sold under agreements to repurchase	53,458	60,853
Securities loaned	0	247
Total included in the offsetting disclosure	53,458	61,100
Trading liabilities— Obligation to return securities received as collateral	0	0
Total	53,458	61,100
30-90 Days
Gross Secured Financing Balances
Securities sold under agreements to repurchase	12,529	26,221
Securities loaned	150	0
Total included in the offsetting disclosure	12,679	26,221
Trading liabilities— Obligation to return securities received as collateral	0	0
Total	12,679	26,221
Over 90 Days
Gross Secured Financing Balances
Securities sold under agreements to repurchase	43,490	27,070
Securities loaned	9,117	4,747
Total included in the offsetting disclosure	52,607	31,817
Trading liabilities— Obligation to return securities received as collateral	0	0
Total	$ 52,607	$ 31,817

Collateralized Transactions - A

Collateralized Transactions - Assets Loaned or Pledged (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Collateralized Agreements [Abstract]
Trading assets	$ 33,926	$ 30,954

Collateralized Transactions - C

Collateralized Transactions - Collateral Received (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Collateralized Agreements [Abstract]
Collateral received with right to sell or repledge	$ 706,446	$ 724,818
Collateral that was sold or repledged	$ 535,697	$ 523,648

Collateralized Transactions - S

Collateralized Transactions - Securities Segregated for Regulatory Purposes (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Collateralized Agreements [Abstract]
Segregated securities	$ 20,552	$ 34,106

Collateralized Transactions -_2

Collateralized Transactions - Customer Margin Lending (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Collateralized Agreements [Abstract]
Margin and other lending	$ 69,608	$ 74,714

Loans, Lending Commitments an_3

Loans, Lending Commitments and Related Allowance for Credit Losses - Loans by Type (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Loans Held for Investment
Loans held for investment, before allowance	$ 160,875	$ 138,619
Allowance for credit losses	(684)	(835)	$ (913)	$ (349)
Loans held for investment, net	160,191	137,784
Loans Held for Sale
Loans held for sale, before allowance	13,168	12,813
Loans held for sale, net	13,168	12,813
Total Loans
Total loans	174,043	151,432
Allowance for credit losses	(684)	(835)	(913)	(349)
Total loans, net	173,359	150,597
Fixed rate loans, net	40,590	32,796
Floating or adjustable rate loans, net	132,769	117,801
Loans to non-U.S. borrowers, net	21,260	21,081
Corporate
Loans Held for Investment
Loans held for investment, before allowance	4,774	6,046
Allowance for credit losses	(197)	(309)	(367)	(115)
Loans Held for Sale
Loans held for sale, before allowance	8,998	8,580
Total Loans
Total loans	13,772	14,626
Allowance for credit losses	(197)	(309)	(367)	(115)
Secured lending facilities
Loans Held for Investment
Loans held for investment, before allowance	27,345	25,727
Allowance for credit losses	(175)	(198)	(191)	(101)
Loans Held for Sale
Loans held for sale, before allowance	3,650	3,296
Total Loans
Total loans	30,995	29,023
Allowance for credit losses	(175)	(198)	(191)	(101)
Commercial real estate
Loans Held for Investment
Loans held for investment, before allowance	6,915	7,346
Allowance for credit losses	(193)	(211)	(222)	(75)
Loans Held for Sale
Loans held for sale, before allowance	434	822
Total Loans
Total loans	7,349	8,168
Allowance for credit losses	(193)	(211)	(222)	(75)
Residential real estate
Loans Held for Investment
Loans held for investment, before allowance	41,428	35,268
Allowance for credit losses	(58)	(59)	(58)	(25)
Loans Held for Sale
Loans held for sale, before allowance	8	48
Total Loans
Total loans	41,436	35,316
Allowance for credit losses	(58)	(59)	(58)	(25)
Securities-based lending and Other loans
Loans Held for Investment
Loans held for investment, before allowance	80,413	64,232
Allowance for credit losses	(61)	(58)	(75)	(33)
Loans Held for Sale
Loans held for sale, before allowance	78	67
Total Loans
Total loans	80,491	64,299
Allowance for credit losses	$ (61)	$ (58)	$ (75)	$ (33)

Loans, Lending Commitments an_4

Loans, Lending Commitments and Related Allowance for Credit Losses - Loans Held for Investment before Allowance by Origination Year (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 160,875	$ 138,619
Corporate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	3,831	4,369
Current Fiscal Year	71	665
One Year Ago	205	406
Two Years Ago	181	195
Three Years Ago	195	64
Four Years Ago	60
Prior	231	347
Total	4,774	6,046
Corporate | Investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	1,529	1,138
Current Fiscal Year	0	585
One Year Ago	179	204
Two Years Ago	0	195
Three Years Ago	195	0
Four Years Ago	0
Prior	231	247
Total	2,134	2,369
Corporate | Non-investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	2,302	3,231
Current Fiscal Year	71	80
One Year Ago	26	202
Two Years Ago	181	0
Three Years Ago	0	64
Four Years Ago	60
Prior	0	100
Total	2,640	3,677
Secured lending facilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	23,034	19,221
Current Fiscal Year	387	415
One Year Ago	259	2,164
Two Years Ago	1,238	2,046
Three Years Ago	1,096	826
Four Years Ago	450
Prior	881	1,055
Total	27,345	25,727
Secured lending facilities | Investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	7,000	4,711
Current Fiscal Year	33	162
One Year Ago	84	260
Two Years Ago	173	614
Three Years Ago	310	245
Four Years Ago	144
Prior	0	0
Total	7,744	5,992
Secured lending facilities | Non-investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	16,034	14,510
Current Fiscal Year	354	253
One Year Ago	175	1,904
Two Years Ago	1,065	1,432
Three Years Ago	786	581
Four Years Ago	306
Prior	881	1,055
Total	19,601	19,735
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Fiscal Year	797	1,038
One Year Ago	973	2,922
Two Years Ago	2,548	1,520
Three Years Ago	948	799
Four Years Ago	673
Prior	976	1,067
Total	6,915	7,346
Commercial real estate | Investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Fiscal Year	260	95
One Year Ago	160	1,074
Two Years Ago	1,148	746
Three Years Ago	533	412
Four Years Ago	334
Prior	100	100
Total	2,535	2,427
Commercial real estate | Non-investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Fiscal Year	537	943
One Year Ago	813	1,848
Two Years Ago	1,400	774
Three Years Ago	415	387
Four Years Ago	339
Prior	876	967
Total	4,380	4,919
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	96	122
Current Fiscal Year	10,776	10,921
One Year Ago	10,089	7,025
Two Years Ago	6,220	2,999
Three Years Ago	2,561	3,500
Four Years Ago	2,942	4,326
Prior	8,744	6,375
Total	41,428	35,268
Residential real estate | Less than or equal to 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	96	122
Current Fiscal Year	10,099	10,338
One Year Ago	9,557	6,584
Two Years Ago	5,836	2,756
Three Years Ago	2,369	3,251
Four Years Ago	2,736	4,035
Prior	7,967	5,684
Total	38,660	32,770
Residential real estate | Greater than 80%
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	0	0
Current Fiscal Year	677	583
One Year Ago	532	441
Two Years Ago	384	243
Three Years Ago	192	249
Four Years Ago	206	291
Prior	777	691
Total	2,768	2,498
Residential real estate | Greater than or equal to 740
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	66	85
Current Fiscal Year	8,749	8,948
One Year Ago	8,245	5,592
Two Years Ago	4,941	2,320
Three Years Ago	1,977	2,721
Four Years Ago	2,282	3,324
Prior	6,350	4,465
Total	32,610	27,455
Residential real estate | 680-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	26	32
Current Fiscal Year	1,863	1,824
One Year Ago	1,711	1,265
Two Years Ago	1,130	604
Three Years Ago	519	690
Four Years Ago	584	884
Prior	2,060	1,626
Total	7,893	6,925
Residential real estate | Less than or equal to 679
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	4	5
Current Fiscal Year	164	149
One Year Ago	133	168
Two Years Ago	149	75
Three Years Ago	65	89
Four Years Ago	76	118
Prior	334	284
Total	925	888
Securities-based lending and Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	73,462	57,038
Current Fiscal Year	441	1,663
One Year Ago	1,319	1,797
Two Years Ago	1,751	1,042
Three Years Ago	904	776
Four Years Ago	783	677
Prior	1,753	1,239
Total	80,413	64,232
Securities-based lending
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	67,009	51,667
Current Fiscal Year	31	0
One Year Ago	0	18
Two Years Ago	19	232
Three Years Ago	232	0
Four Years Ago	0	0
Prior	16	16
Total	67,307	51,933
Other | Investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	5,783	4,816
Current Fiscal Year	346	1,073
One Year Ago	729	1,156
Two Years Ago	1,105	407
Three Years Ago	288	654
Four Years Ago	521	566
Prior	1,395	1,066
Total	10,167	9,738
Other | Non-investment grade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	670	555
Current Fiscal Year	64	590
One Year Ago	590	623
Two Years Ago	627	403
Three Years Ago	384	122
Four Years Ago	262	111
Prior	342	157
Total	$ 2,939	$ 2,561

Loans, Lending Commitments an_5

Loans, Lending Commitments and Related Allowance for Credit Losses - Past Due Loans Held for Investment before Allowance (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	$ 160,875	$ 138,619
Past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	239	363
Corporate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	4,774	6,046
Corporate | Past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	4	0
Secured lending facilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	27,345	25,727
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	6,915	7,346
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	41,428	35,268
Residential real estate | Past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	235	332
Securities-based lending and Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	80,413	64,232
Securities-based lending and Other loans | Past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, gross	$ 0	$ 31

Loans, Lending Commitments an_6

Loans, Lending Commitments and Related Allowance for Credit Losses - Nonaccrual Loans Held for Investment before Allowance (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	$ 826	$ 591
Nonaccrual loans without an ACL	125	90
Corporate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	82	164
Secured lending facilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	388	0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	68	152
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	127	97
Securities-based lending and Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	$ 161	$ 178

Loans, Lending Commitments an_7

Loans, Lending Commitments and Related Allowance for Credit Losses - Troubled Debt Restructurings (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Troubled Debt Restructurings
Loans, before ACL	$ 65	$ 167
Lending commitments	0	27
ACL on Loans and Lending commitments	$ 9	$ 36

Loans, Lending Commitments an_8

Loans, Lending Commitments and Related Allowance for Credit Losses - Allowance for Credit Losses Rollforward - Loans and Lending Commitments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Allowance for loan losses rollforward
Beginning balance			$ 835	$ 349
Effect of CECL adoption				9
Gross charge-offs			(107)	(59)
Recoveries				5
Net recoveries (charge-offs)				(54)
Provision for credit losses	$ 5	$ 63	(37)	601
Other			(7)	8
Ending balance	684	913	684	913
Allowance for lending commitments rollforward
Beginning balance			396	241
Effect of CECL adoption				(50)
Provision for credit losses	19	48	36	156
Other			(3)	0
Ending balance	429	347	429	347
Corporate
Allowance for loan losses rollforward
Beginning balance			309	115
Effect of CECL adoption				(2)
Gross charge-offs			(19)	(33)
Recoveries				3
Net recoveries (charge-offs)				(30)
Provision for credit losses			(91)	281
Other			(2)	3
Ending balance	197	367	197	367
Allowance for lending commitments rollforward
Beginning balance			323	201
Effect of CECL adoption				(41)
Provision for credit losses			39	119
Other			(3)	0
Ending balance	359	279	359	279
Secured lending facilities
Allowance for loan losses rollforward
Beginning balance			198	101
Effect of CECL adoption				(42)
Gross charge-offs			(67)	0
Recoveries				0
Net recoveries (charge-offs)				0
Provision for credit losses			47	131
Other			(3)	1
Ending balance	175	191	175	191
Allowance for lending commitments rollforward
Beginning balance			38	27
Effect of CECL adoption				(11)
Provision for credit losses			2	24
Other			1	0
Ending balance	41	40	41	40
Commercial real estate
Allowance for loan losses rollforward
Beginning balance			211	75
Effect of CECL adoption				34
Gross charge-offs			(21)	(26)
Recoveries				0
Net recoveries (charge-offs)				(26)
Provision for credit losses			4	173
Other			(1)	(34)
Ending balance	193	222	193	222
Allowance for lending commitments rollforward
Beginning balance			11	7
Effect of CECL adoption				1
Provision for credit losses			0	7
Other			(1)	(4)
Ending balance	10	11	10	11
Residential real estate
Allowance for loan losses rollforward
Beginning balance			59	25
Effect of CECL adoption				21
Gross charge-offs			0	0
Recoveries				0
Net recoveries (charge-offs)				0
Provision for credit losses			(2)	12
Other			1	0
Ending balance	58	58	58	58
Allowance for lending commitments rollforward
Beginning balance			1	0
Effect of CECL adoption				2
Provision for credit losses			0	(1)
Other			0	0
Ending balance	1	1	1	1
SBL and Other
Allowance for loan losses rollforward
Beginning balance			58	33
Effect of CECL adoption				(2)
Gross charge-offs			0	0
Recoveries				2
Net recoveries (charge-offs)				2
Provision for credit losses			5	4
Other			(2)	38
Ending balance	61	75	61	75
Allowance for lending commitments rollforward
Beginning balance			23	6
Effect of CECL adoption				(1)
Provision for credit losses			(5)	7
Other			0	4
Ending balance	$ 18	$ 16	$ 18	$ 16

Loans, Lending Commitments an_9

Loans, Lending Commitments and Related Allowance for Credit Losses - Employee Loans (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Employee Loans [Line Items]
Employee loans	$ 3,614	$ 3,240
Allowance for credit losses	(163)	(165)
Employee loans, net of ACL	$ 3,451	$ 3,075
Repayment term range, in years	5 years 7 months 6 days	5 years 3 months 18 days
Currently employed by the Firm
Employee Loans [Line Items]
Employee loans	$ 3,486	$ 3,100
No longer employed by the Firm
Employee Loans [Line Items]
Employee loans	$ 128	$ 140

Other Assets - Equity Method _3

Other Assets - Equity Method Investments - Balances (Details) - Investment Management - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Equity Method Investments
Investments	$ 2,298		$ 2,298		$ 2,410
Income (loss)	$ 24	$ 10	$ 51	$ (24)

Other Assets - Equity Method _4

Other Assets - Equity Method Investments - Joint Ventures (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
MUMSS
Equity Method Investments
Income (loss) from equity method investments	$ 29	$ 15	$ 113	$ 46

Deposits - Summary (Details)

Deposits - Summary (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Deposits [Abstract]
Savings and demand deposits	$ 310,845	$ 279,221
Time deposits	18,196	31,561
Total	329,041	310,782
Deposits subject to FDIC insurance	226,605	234,211
Time deposits that equal or exceed the FDIC insurance limit	$ 0	$ 16

Deposits - Time Deposit Maturit

Deposits - Time Deposit Maturities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Time Deposit Maturities
2021	$ 3,544
2022	6,124
2023	4,243
2024	2,813
2025	793
Thereafter	679
Total	$ 18,196	$ 31,561

Borrowings and Other Secured _3

Borrowings and Other Secured Financings - Borrowings (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Borrowings
Original maturities of one year or less	$ 4,825	$ 3,691
Original maturities greater than one year
Senior	211,226	202,305
Subordinated	13,711	11,083
Total	224,937	213,388
Total borrowings	$ 229,762	$ 217,079
Weighted average stated maturity, in years	7 years 8 months 12 days	7 years 3 months 18 days

Borrowings and Other Secured _4

Borrowings and Other Secured Financings - Other Secured Financings (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Original maturities:
One year or less	$ 4,947	$ 10,453
Greater than one year	5,325	5,410
Total	10,272	15,863
Transfers of assets accounted for as secured financings	$ 1,255	$ 1,529

Commitments, Guarantees and C_3

Commitments, Guarantees and Contingencies - Commitments (Details) $ in Millions	Sep. 30, 2021USD ($)
Commitment, Fiscal Year Maturity
Less than 1 (year)	$ 100,600
1-3 (years)	46,483
3-5 (years)	48,091
Over 5 (years)	20,951
Total	216,125
Forward-starting secured financing receivables
Commitment, Fiscal Year Maturity
Less than 1 (year)	64,603
1-3 (years)	0
3-5 (years)	0
Over 5 (years)	0
Total	64,603
Forward-starting secured financing receivables settled within three business days	55,387
Central counterparty
Commitment, Fiscal Year Maturity
Less than 1 (year)	300
1-3 (years)	0
3-5 (years)	0
Over 5 (years)	11,807
Total	12,107
Underwriting
Commitment, Fiscal Year Maturity
Less than 1 (year)	428
1-3 (years)	14
3-5 (years)	0
Over 5 (years)	0
Total	442
Investment activities
Commitment, Fiscal Year Maturity
Less than 1 (year)	1,119
1-3 (years)	240
3-5 (years)	60
Over 5 (years)	409
Total	1,828
Letters of credit and other financial guarantees
Commitment, Fiscal Year Maturity
Less than 1 (year)	26
1-3 (years)	0
3-5 (years)	0
Over 5 (years)	3
Total	29
Corporate lending
Commitment, Fiscal Year Maturity
Less than 1 (year)	16,994
1-3 (years)	36,794
3-5 (years)	45,711
Over 5 (years)	7,396
Total	106,895
Lending commitments participated to third parties	8,380
Secured lending facilities
Commitment, Fiscal Year Maturity
Less than 1 (year)	4,799
1-3 (years)	6,061
3-5 (years)	1,717
Over 5 (years)	630
Total	13,207
Commercial and Residential real estate
Commitment, Fiscal Year Maturity
Less than 1 (year)	303
1-3 (years)	242
3-5 (years)	133
Over 5 (years)	270
Total	948
Securities-based lending and Other
Commitment, Fiscal Year Maturity
Less than 1 (year)	12,028
1-3 (years)	3,132
3-5 (years)	470
Over 5 (years)	436
Total	$ 16,066

Commitments, Guarantees and C_4

Commitments, Guarantees and Contingencies - Obligations under Guarantee Arrangements (Details) $ in Millions	Sep. 30, 2021USD ($)
Non-credit derivatives
Guarantees
Carrying amount: liability	$ (48,593)
Non-credit derivatives | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	1,231,656
Non-credit derivatives | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	1,036,489
Non-credit derivatives | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	396,233
Non-credit derivatives | Over 5 (Years)
Guarantees
Maximum potential payout/notional	933,946
Standby letters of credit and other financial guarantees issued
Guarantees
Carrying amount: asset	88
Standby letters of credit	600
Allowance for credit loss	85
Standby letters of credit and other financial guarantees issued | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	1,466
Standby letters of credit and other financial guarantees issued | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	1,053
Standby letters of credit and other financial guarantees issued | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	770
Standby letters of credit and other financial guarantees issued | Over 5 (Years)
Guarantees
Maximum potential payout/notional	3,573
Market value guarantees
Guarantees
Carrying amount: asset	0
Market value guarantees | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	75
Market value guarantees | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	20
Market value guarantees | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	0
Market value guarantees | Over 5 (Years)
Guarantees
Maximum potential payout/notional	0
Liquidity facilities
Guarantees
Carrying amount: asset	5
Liquidity facilities | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	4,022
Liquidity facilities | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	0
Liquidity facilities | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	0
Liquidity facilities | Over 5 (Years)
Guarantees
Maximum potential payout/notional	0
Whole loan sales guarantees
Guarantees
Carrying amount: liability	0
Whole loan sales guarantees | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	0
Whole loan sales guarantees | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	0
Whole loan sales guarantees | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	69
Whole loan sales guarantees | Over 5 (Years)
Guarantees
Maximum potential payout/notional	23,112
Securitization representations and warranties
Guarantees
Carrying amount: liability	(42)
Securitization representations and warranties | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	0
Securitization representations and warranties | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	0
Securitization representations and warranties | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	0
Securitization representations and warranties | Over 5 (Years)
Guarantees
Maximum potential payout/notional	74,446
General partner guarantees
Guarantees
Carrying amount: liability	(65)
General partner guarantees | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	327
General partner guarantees | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	12
General partner guarantees | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	32
General partner guarantees | Over 5 (Years)
Guarantees
Maximum potential payout/notional	114
Client clearing guarantees
Guarantees
Carrying amount: liability	0
Client clearing guarantees | Less Than 1 (Year)
Guarantees
Maximum potential payout/notional	54
Client clearing guarantees | 1 - 3 (Years)
Guarantees
Maximum potential payout/notional	0
Client clearing guarantees | 3 - 5 (Years)
Guarantees
Maximum potential payout/notional	0
Client clearing guarantees | Over 5 (Years)
Guarantees
Maximum potential payout/notional	$ 0

Commitments, Guarantees and C_5

Commitments, Guarantees and Contingencies - Narrative (Details) - Sep. 30, 2021 - Pending Litigation € in Millions, $ in Millions	USD ($)	EUR (€)
Financial Guaranty Insurance Company v. Morgan Stanley ABS Capital I Inc. et al. (Trust 2007-NC4)
Loss Contingencies
Original principal amount of debt instrument	$ 876
Deutsche Bank National Trust Company solely in its capacity as Trustee of the Morgan Stanley ABS Capital I Inc. Trust 2007-NC4 v. Morgan Stanley Mortgage Capital Holdings LLC as Successor-by-Merger to Morgan Stanley Mortgage Capital Inc., and Morgan Stanley ABS Capital I Inc. | Maximum
Loss Contingencies
Estimate of possible loss	277
US Bank National Association 2007-2AX v. Morgan Stanley Mortgage Capital Holdings LLC
Loss Contingencies
Original principal amount of debt instrument	1,050
Case Number 15/3637 and Case Number 15/4353
Loss Contingencies
Withholding tax credit set-off	$ 144	€ 124

Variable Interest Entities an_3

Variable Interest Entities and Securitization Activities - Assets and Liabilities by Type of Activity (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity
Carrying value of variable interests—Assets	$ 1,190,476	$ 1,115,862
Carrying value of variable interests—Liabilities	1,083,357	1,012,713
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	2,419	2,118
Carrying value of variable interests—Liabilities	708	414
Variable Interest Entity, Primary Beneficiary | MABS
Variable Interest Entity
Carrying value of variable interests—Assets	774	590
Carrying value of variable interests—Liabilities	234	17
Variable Interest Entity, Primary Beneficiary | Investment vehicles
Variable Interest Entity
Carrying value of variable interests—Assets	696	776
Carrying value of variable interests—Liabilities	216	355
Variable Interest Entity, Primary Beneficiary | Operating entities
Variable Interest Entity
Carrying value of variable interests—Assets	497	504
Carrying value of variable interests—Liabilities	38	39
Variable Interest Entity, Primary Beneficiary | Other
Variable Interest Entity
Carrying value of variable interests—Assets	452	248
Carrying value of variable interests—Liabilities	$ 220	$ 3

Variable Interest Entities an_4

Variable Interest Entities and Securitization Activities - Assets and Liabilities by Balance Sheet Caption (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 123,863	$ 105,654
Trading assets at fair value	315,161	312,738
Investment securities	183,682	184,803
Securities purchased under agreements to resell	119,721	116,234
Customer and other receivables	98,353	97,737
Intangible assets	8,514	4,980
Other assets	25,320	21,742
Total assets	1,190,476	1,115,862
Liabilities
Other secured financings	5,614	11,701
Other liabilities and accrued expenses	30,884	25,603
Total liabilities	1,083,357	1,012,713
Noncontrolling interests	1,216	1,368
Variable Interest Entity, Primary Beneficiary
Assets
Cash and cash equivalents	270	269
Trading assets at fair value	1,550	1,445
Investment securities	33	0
Securities purchased under agreements to resell	200	0
Customer and other receivables	18	23
Intangible assets	89	98
Other assets	259	283
Total assets	2,419	2,118
Liabilities
Other secured financings	505	366
Other liabilities and accrued expenses	203	48
Total liabilities	708	414
Noncontrolling interests	$ 130	$ 196

Variable Interest Entities an_5

Variable Interest Entities and Securitization Activities - Non-Consolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity
Carrying value of variable interests—Assets	$ 1,190,476	$ 1,115,862
Additional VIE assets owned	15,975	20,019
Carrying value of variable interests—Liabilities	1,083,357	1,012,713
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
VIE assets (UPB)	157,608	184,153
MABS
Variable Interest Entity
VIE assets (UPB)	157,608	184,153
Maximum exposure to loss	20,069	27,176
MABS | Assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	19,539	26,247
MABS | Debt and equity interests
Variable Interest Entity
Maximum exposure to loss	19,539	26,247
MABS | Debt and equity interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	19,539	26,247
MABS | Derivative and other contracts
Variable Interest Entity
Maximum exposure to loss	0	0
MABS | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	0	0
MABS | Commitments, guarantees and other
Variable Interest Entity
Maximum exposure to loss	530	929
MABS | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Liabilities	0	0
CDO
Variable Interest Entity
VIE assets (UPB)	1,968	3,527
Maximum exposure to loss	169	257
CDO | Assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	169	257
CDO | Debt and equity interests
Variable Interest Entity
Maximum exposure to loss	169	257
CDO | Debt and equity interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	169	257
CDO | Derivative and other contracts
Variable Interest Entity
Maximum exposure to loss	0	0
CDO | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	0	0
CDO | Commitments, guarantees and other
Variable Interest Entity
Maximum exposure to loss	0	0
CDO | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Liabilities	0	0
MTOB
Variable Interest Entity
VIE assets (UPB)	6,048	6,524
Maximum exposure to loss	4,022	4,425
MTOB | Assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	6	5
MTOB | Debt and equity interests
Variable Interest Entity
Maximum exposure to loss	0	0
MTOB | Debt and equity interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	0	0
MTOB | Derivative and other contracts
Variable Interest Entity
Maximum exposure to loss	4,022	4,425
MTOB | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	6	5
MTOB | Commitments, guarantees and other
Variable Interest Entity
Maximum exposure to loss	0	0
MTOB | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Liabilities	0	0
OSF
Variable Interest Entity
VIE assets (UPB)	2,014	2,161
Maximum exposure to loss	1,239	1,187
OSF | Assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	1,239	1,187
OSF | Debt and equity interests
Variable Interest Entity
Maximum exposure to loss	1,239	1,187
OSF | Debt and equity interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	1,239	1,187
OSF | Derivative and other contracts
Variable Interest Entity
Maximum exposure to loss	0	0
OSF | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	0	0
OSF | Commitments, guarantees and other
Variable Interest Entity
Maximum exposure to loss	0	0
OSF | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Liabilities	0	0
Other
Variable Interest Entity
VIE assets (UPB)	53,835	48,241
Maximum exposure to loss	17,961	17,396
Other | Assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	12,804	11,859
Other | Debt and equity interests
Variable Interest Entity
Maximum exposure to loss	10,497	11,008
Other | Debt and equity interests | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	10,497	11,008
Other | Derivative and other contracts
Variable Interest Entity
Maximum exposure to loss	6,345	5,639
Other | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Assets	2,307	851
Other | Commitments, guarantees and other
Variable Interest Entity
Maximum exposure to loss	1,119	749
Other | Derivative and other contracts | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
Carrying value of variable interests—Liabilities	$ 224	$ 222

Variable Interest Entities an_6

Variable Interest Entities and Securitization Activities - Mortgage and Asset Backed Securitization Assets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity
Assets	$ 1,190,476	$ 1,115,862
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity
UPB	157,608	184,153
Variable Interest Entity, Not Primary Beneficiary | Residential mortgages
Variable Interest Entity
UPB	23,049	17,775
Variable Interest Entity, Not Primary Beneficiary | Commercial mortgages
Variable Interest Entity
UPB	67,858	62,093
Variable Interest Entity, Not Primary Beneficiary | U.S. agency collateralized mortgage obligations
Variable Interest Entity
UPB	62,470	99,182
Variable Interest Entity, Not Primary Beneficiary | Other consumer or commercial loans
Variable Interest Entity
UPB	4,231	5,103
Variable Interest Entity, Not Primary Beneficiary | Debt and Equity Interests
Variable Interest Entity
Assets	19,539	26,247
Variable Interest Entity, Not Primary Beneficiary | Debt and Equity Interests | Residential mortgages
Variable Interest Entity
Assets	2,536	3,175
Variable Interest Entity, Not Primary Beneficiary | Debt and Equity Interests | Commercial mortgages
Variable Interest Entity
Assets	3,741	4,131
Variable Interest Entity, Not Primary Beneficiary | Debt and Equity Interests | U.S. agency collateralized mortgage obligations
Variable Interest Entity
Assets	10,881	17,224
Variable Interest Entity, Not Primary Beneficiary | Debt and Equity Interests | Other consumer or commercial loans
Variable Interest Entity
Assets	$ 2,381	$ 1,717

Variable Interest Entities an_7

Variable Interest Entities and Securitization Activities - Transferred Assets with Continuing Involvement (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity
Derivative assets	$ 43,399	$ 37,850
Derivative liabilities	38,716	44,938
SPE
Variable Interest Entity
Interests purchased in the secondary market	242	356
Derivative assets	586	400
Derivative liabilities	178	436
SPE | Investment grade
Variable Interest Entity
Interests purchased in the secondary market	131	212
SPE | Non-investment grade
Variable Interest Entity
Interests purchased in the secondary market	111	144
SPE | RML
Variable Interest Entity
SPE assets (UPB)	7,528	7,515
Retained interests	114	65
Interests purchased in the secondary market	41	43
Derivative assets	0	0
Derivative liabilities	0	0
SPE | RML | Investment grade
Variable Interest Entity
Retained interests	93	49
Interests purchased in the secondary market	7	0
SPE | RML | Non-investment grade
Variable Interest Entity
Retained interests	21	16
Interests purchased in the secondary market	34	43
SPE | CML
Variable Interest Entity
SPE assets (UPB)	92,588	84,674
Retained interests	1,225	1,017
Interests purchased in the secondary market	160	176
Derivative assets	0	0
Derivative liabilities	0	0
SPE | CML | Investment grade
Variable Interest Entity
Retained interests	938	822
Interests purchased in the secondary market	83	96
SPE | CML | Non-investment grade
Variable Interest Entity
Retained interests	287	195
Interests purchased in the secondary market	77	80
SPE | U.S. Agency CMO
Variable Interest Entity
SPE assets (UPB)	38,788	21,061
Retained interests	629	615
Interests purchased in the secondary market	41	116
Derivative assets	0	0
Derivative liabilities	0	0
SPE | U.S. Agency CMO | Investment grade
Variable Interest Entity
Retained interests	629	615
Interests purchased in the secondary market	41	116
SPE | U.S. Agency CMO | Non-investment grade
Variable Interest Entity
Retained interests	0	0
Interests purchased in the secondary market	0	0
SPE | CLN and Other
Variable Interest Entity
SPE assets (UPB)	13,481	12,978
Retained interests	74	114
Interests purchased in the secondary market	0	21
Derivative assets	586	400
Derivative liabilities	178	436
SPE | CLN and Other | Investment grade
Variable Interest Entity
Retained interests	0	0
Interests purchased in the secondary market	0	0
SPE | CLN and Other | Non-investment grade
Variable Interest Entity
Retained interests	74	114
Interests purchased in the secondary market	$ 0	$ 21

Variable Interest Entities an_8

Variable Interest Entities and Securitization Activities - Fair Value of Transfers of Assets with Continuing Involvement (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity
Derivative assets	$ 43,399	$ 37,850
Derivative liabilities	38,716	44,938
SPE
Variable Interest Entity
Retained interests	815	732
Interests purchased in the secondary market	242	356
Derivative assets	586	400
Derivative liabilities	178	436
SPE | Investment grade
Variable Interest Entity
Retained interests	725	663
Interests purchased in the secondary market	131	212
SPE | Non-investment grade
Variable Interest Entity
Retained interests	90	69
Interests purchased in the secondary market	111	144
SPE | Level 2
Variable Interest Entity
Retained interests	763	669
Interests purchased in the secondary market	198	258
Derivative assets	585	388
Derivative liabilities	149	435
SPE | Level 2 | Investment grade
Variable Interest Entity
Retained interests	725	663
Interests purchased in the secondary market	124	196
SPE | Level 2 | Non-investment grade
Variable Interest Entity
Retained interests	38	6
Interests purchased in the secondary market	74	62
SPE | Level 3
Variable Interest Entity
Retained interests	52	63
Interests purchased in the secondary market	44	98
Derivative assets	1	12
Derivative liabilities	29	1
SPE | Level 3 | Investment grade
Variable Interest Entity
Retained interests	0	0
Interests purchased in the secondary market	7	16
SPE | Level 3 | Non-investment grade
Variable Interest Entity
Retained interests	52	63
Interests purchased in the secondary market	$ 37	$ 82

Variable Interest Entities an_9

Variable Interest Entities and Securitization Activities - Proceeds from New Securitization Transactions and Sales of Loans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Transfer of Financial Assets Accounted for as Sales
New transactions	$ 12,103	$ 12,969	$ 43,303	$ 30,629
Retained interests	2,396	1,991	7,960	7,215
CLO SPEs | Corporate Loans
Transfer of Financial Assets Accounted for as Sales
Sales of corporate loans to CLO SPEs	$ 144	$ 234	$ 217	$ 373

Variable Interest Entities a_10

Variable Interest Entities and Securitization Activities - Assets Sold with Retained Exposure (Details) - Bilateral OTC - Equity Derivatives - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Transfer of Financial Assets Accounted for as Sales
Gross cash proceeds from sale of assets	$ 64,054	$ 45,051
Fair value
Assets sold	64,185	46,609
Derivative assets recognized in the balance sheets	901	1,592
Derivative liabilities recognized in the balance sheets	$ 771	$ 64

Regulatory Requirements - Risk-

Regulatory Requirements - Risk-Based Regulatory Capital Ratio Requirements (Details)	Sep. 30, 2021	Dec. 31, 2020
Capital conservation buffer
Advanced (as a percent)	0.025	0.025
Stress capital buffer (“SCB”)
Standardized (as a percent)	0.057	0.057
G-SIB capital surcharge
Standardized (as a percent)	0.030	0.030
Advanced (as a percent)	0.030	0.030
CCyB
Standardized (as a percent)	0	0
Advanced (as a percent)	0	0
Capital buffer requirement
Standardized (as a percent)	0.087	0.087
Advanced (as a percent)	0.055	0.055
Common Equity Tier 1 capital ratio
Regulatory Minimum (as a percent)	0.045
Standardized (as a percent)	13.20%	13.20%
Advanced (as a percent)	0.100	0.100
Tier 1 capital ratio
Regulatory Minimum (as a percent)	0.060
Standardized (as a percent)	0.147	0.147
Advanced (as a percent)	0.115	0.115
Total capital ratio
Regulatory Minimum (as a percent)	0.080
Standardized (as a percent)	0.167	0.167
Advanced (as a percent)	0.135	0.135
Maximum
CCyB
Standardized (as a percent)	0.025

Regulatory Requirements - The F

Regulatory Requirements - The Firm's Regulatory Capital and Capital Ratios (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Required Ratio
Common Equity Tier 1 capital (as a percent)	13.20%	13.20%
Tier 1 capital (as a percent)	0.147	0.147
Total capital (as a percent)	0.167	0.167
Tier 1 leverage (as a percent)	0.040
SLR (as a percent)	5.00%
Amount
Common Equity Tier 1 capital	$ 75,785	$ 78,650
Tier 1 capital	83,435	88,079
Total capital	94,062	97,213
Total RWA	473,020	453,106
Adjusted average assets	1,145,682	1,053,510
Supplementary leverage exposure	$ 1,459,466	$ 1,192,506
Ratio
Common Equity Tier 1 capital (as a percent)	0.160	0.174
Tier 1 capital (as a percent)	0.176	0.194
Total capital (as a percent)	0.199	0.215
Tier 1 leverage (as a percent)	0.073	0.084
SLR (as a percent)	0.057	0.074

Regulatory Requirements - U.S.

Regulatory Requirements - U.S. Bank Subsidiaries' Regulatory Capital and Capital Ratios (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Required Ratio
Common Equity Tier 1 capital (as a percent)	13.20%	13.20%
Tier 1 capital (as a percent)	0.147	0.147
Total capital (as a percent)	0.167	0.167
Tier 1 leverage (as a percent)	0.040
SLR (as a percent)	5.00%
Amount
Common Equity Tier 1 capital	$ 75,785	$ 78,650
Tier 1 capital	83,435	88,079
Total capital	$ 94,062	$ 97,213
Ratio
Common Equity Tier 1 capital (as a percent)	0.160	0.174
Tier 1 capital (as a percent)	0.176	0.194
Total capital (as a percent)	0.199	0.215
Tier 1 leverage (as a percent)	0.073	0.084
SLR (as a percent)	0.057	0.074
MSBNA
Well-Capitalized Requirement
Common Equity Tier 1 capital (as a percent)	6.50%
Tier 1 capital (as a percent)	8.00%
Total capital (as a percent)	0.100
Tier 1 leverage (as a percent)	0.050
SLR (as a percent)	6.00%
Required Ratio
Common Equity Tier 1 capital (as a percent)	7.00%
Tier 1 capital (as a percent)	0.085
Total capital (as a percent)	0.105
Tier 1 leverage (as a percent)	0.040
SLR (as a percent)	3.00%
Amount
Common Equity Tier 1 capital	$ 18,562	$ 17,238
Tier 1 capital	18,562	17,238
Total capital	19,149	17,882
Tier 1 leverage	18,562	17,238
SLR	$ 18,562	$ 17,238
Ratio
Common Equity Tier 1 capital (as a percent)	0.208	0.187
Tier 1 capital (as a percent)	0.208	0.187
Total capital (as a percent)	0.214	0.194
Tier 1 leverage (as a percent)	0.102	0.101
SLR (as a percent)	0.081	0.080
MSPBNA
Well-Capitalized Requirement
Common Equity Tier 1 capital (as a percent)	6.50%
Tier 1 capital (as a percent)	8.00%
Total capital (as a percent)	0.100
Tier 1 leverage (as a percent)	0.050
SLR (as a percent)	6.00%
Required Ratio
Common Equity Tier 1 capital (as a percent)	7.00%
Tier 1 capital (as a percent)	0.085
Total capital (as a percent)	0.105
Tier 1 leverage (as a percent)	0.040
SLR (as a percent)	3.00%
Amount
Common Equity Tier 1 capital	$ 9,972	$ 8,213
Tier 1 capital	9,972	8,213
Total capital	10,045	8,287
Tier 1 leverage	9,972	8,213
SLR	$ 9,972	$ 8,213
Ratio
Common Equity Tier 1 capital (as a percent)	0.249	0.213
Tier 1 capital (as a percent)	0.249	0.213
Total capital (as a percent)	0.251	0.215
Tier 1 leverage (as a percent)	0.071	0.072
SLR (as a percent)	0.069	0.069

Regulatory Requirements - U.S_2

Regulatory Requirements - U.S. Broker-Dealer Regulatory Capital Requirements (Details) - MS&Co. - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Regulatory Requirements
Net capital	$ 15,922	$ 12,869
Excess net capital	$ 12,043	$ 9,034

Total Equity - Preferred Stock

Total Equity - Preferred Stock Outstanding (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 15, 2021	Sep. 30, 2021	Dec. 31, 2020
Class of Stock
Preferred stock carrying value		$ 7,750	$ 9,250
Preferred stock shares authorized (shares)		30,000,000
Series A
Class of Stock
Preferred stock shares outstanding (shares)		44,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 1,100	1,100
Series C
Class of Stock
Preferred stock shares outstanding (shares)		519,882
Liquidation preference per share (USD per share)		$ 1,000
Preferred stock carrying value		$ 408	408
Series E
Class of Stock
Preferred stock shares outstanding (shares)		34,500
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 862	862
Series F
Class of Stock
Preferred stock shares outstanding (shares)		34,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 850	850
Series H
Class of Stock
Preferred stock shares outstanding (shares)		52,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 1,300	1,300
Series I
Class of Stock
Preferred stock shares outstanding (shares)		40,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 1,000	1,000
Series J
Class of Stock
Preferred stock shares outstanding (shares)		0
Liquidation preference per share (USD per share)		$ 0
Preferred stock carrying value		$ 0	1,500
Redemption of Series J preferred stock	$ 1,500
Series K
Class of Stock
Preferred stock shares outstanding (shares)		40,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 1,000	1,000
Series L
Class of Stock
Preferred stock shares outstanding (shares)		20,000
Liquidation preference per share (USD per share)		$ 25,000
Preferred stock carrying value		$ 500	500
Series M
Class of Stock
Preferred stock shares outstanding (shares)		400,000
Liquidation preference per share (USD per share)		$ 1,000
Preferred stock carrying value		$ 430	430
Series N
Class of Stock
Preferred stock shares outstanding (shares)		3,000
Liquidation preference per share (USD per share)		$ 100,000
Preferred stock carrying value		$ 300	$ 300

Total Equity - Common Stock Rep

Total Equity - Common Stock Repurchases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Repurchases of common stock under the Firm’s Share Repurchase Program	$ 3,557	$ 0	$ 8,631	$ 1,347

Total Equity - Narrative (Detai

Total Equity - Narrative (Details) - USD ($)	Oct. 25, 2021	Jun. 28, 2021
Class of Stock
Authorized repurchase amount of outstanding common stock		$ 12,000,000,000
Depositary Shares of Series O Preferred Stock | Subsequent Event
Class of Stock
Depositary shares issued (in shares)	52,000,000
Aggregate price	$ 1,300,000,000
Redemption price (in USD per share)	$ 25
Non-Cumulative Preferred Stock, Series O, $0.01 par value | Subsequent Event
Class of Stock
Dividend rate	4.25%
Preferred stock, par value (in USD per share)	$ 0.01
Redemption period following a regulatory capital treatment event	90 days
Redemption price (in USD per share)	$ 25,000

Total Equity - Common Shares Ou

Total Equity - Common Shares Outstanding for Basic and Diluted EPS (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Weighted average common shares outstanding, basic (shares)	1,781	1,542	1,797	1,546
Effect of dilutive Stock options, RSUs and PSUs (shares)	31	24	27	19
Weighted average common shares outstanding and common stock equivalents, diluted (shares)	1,812	1,566	1,824	1,565
Weighted average antidilutive common stock equivalents (excluded from the computation of diluted EPS) (shares)	0	0	0	7

Total Equity - Dividends (Detai

Total Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Preferred Stock Dividends
Preferred stock dividends declared	$ 123	$ 120	$ 364	$ 377
Dividends declared per common share (USD per share)	$ 0.70	$ 0.35	$ 1.40	$ 1.05
Common stock dividends	$ 1,276	$ 551	$ 2,562	$ 1,662
Series A
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 256	$ 256	$ 758	$ 761
Preferred stock dividends declared	$ 11	$ 11	$ 33	$ 33
Series C
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 25	$ 25	$ 75	$ 75
Preferred stock dividends declared	$ 13	$ 13	$ 39	$ 39
Series E
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 445	$ 445	$ 1,336	$ 1,336
Preferred stock dividends declared	$ 15	$ 15	$ 45	$ 45
Series F
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 430	$ 430	$ 1,289	$ 1,289
Preferred stock dividends declared	$ 15	$ 15	$ 44	$ 44
Series H
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 239	$ 248	$ 719	$ 897
Preferred stock dividends declared	$ 12	$ 13	$ 37	$ 47
Series I
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 398	$ 398	$ 1,195	$ 1,195
Preferred stock dividends declared	$ 16	$ 16	$ 48	$ 48
Series J
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 0	$ 261	$ 253	$ 955
Preferred stock dividends declared	$ 0	$ 16	$ 15	$ 58
Series K
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 366	$ 366	$ 1,097	$ 1,097
Preferred stock dividends declared	$ 15	$ 15	$ 45	$ 45
Series L
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 305	$ 305	$ 914	$ 914
Preferred stock dividends declared	$ 6	$ 6	$ 18	$ 18
Series M
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 29	$ 0	$ 59	$ 0
Preferred stock dividends declared	$ 12	$ 0	$ 24	$ 0
Series N
Preferred Stock Dividends
Preferred stock dividend declared (USD per share)	$ 2,650	$ 0	$ 5,300	$ 0
Preferred stock dividends declared	$ 8	$ 0	$ 16	$ 0

Total Equity - Accumulated Othe

Total Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 103,149
OCI during the period	$ (182)	$ (510)	(803)	$ 2,330
Ending balance	107,119	89,818	107,119	89,818
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,523)	1	(1,962)	(2,788)
OCI during the period	(178)	(538)	(739)	2,251
Ending balance	(2,701)	(537)	(2,701)	(537)
CTA
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(895)	(1,017)	(795)	(897)
OCI during the period	(65)	81	(165)	(39)
Ending balance	(960)	(936)	(960)	(936)
AFS Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,004	1,827	1,787	207
OCI during the period	(256)	(62)	(1,039)	1,558
Ending balance	748	1,765	748	1,765
Pension and Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(481)	(620)	(498)	(644)
OCI during the period	5	5	22	29
Ending balance	(476)	(615)	(476)	(615)
DVA
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,151)	(189)	(2,456)	(1,454)
OCI during the period	138	(562)	443	703
Ending balance	$ (2,013)	$ (751)	$ (2,013)	$ (751)

Total Equity - Components of Pe

Total Equity - Components of Period Changes in OCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
After-tax Gain (Loss)
Net OCI	$ (182)	$ (510)	$ (803)	$ 2,330
Foreign Currency Translation Adjustment Attributable to Parent
After-tax Gain (Loss)
OCI activity	(65)	81	(165)	(36)
Reclassified to earnings	0	0	0	(3)
Net OCI	(65)	81	(165)	(39)
Foreign Currency Translation Adjustment Including Noncontrolling Interest
Pre-tax Gain (Loss)
OCI activity	(14)	34	(106)	19
Reclassified to earnings	0	0	0	(3)
Net OCI	(14)	34	(106)	16
Income Tax Benefit (Provision)
OCI activity	(64)	76	(150)	(17)
Reclassified to earnings	0	0	0	0
Net OCI	(64)	76	(150)	(17)
After-tax Gain (Loss)
OCI activity	(78)	110	(256)	2
Reclassified to earnings	0	0	0	(3)
Net OCI	(78)	110	(256)	(1)
Foreign Currency Translation Adjustment Attributable to Noncontrolling Interest
After-tax Gain (Loss)
OCI activity	(13)	29	(91)	38
Reclassified to earnings	0	0	0	0
Net OCI	(13)	29	(91)	38
Change in Net Unrealized Gains (Losses) on AFS Securities Attributable to Parent
After-tax Gain (Loss)
OCI activity	(243)	(20)	(879)	1,639
Reclassified to earnings	(13)	(42)	(160)	(81)
Net OCI	(256)	(62)	(1,039)	1,558
Change in Net Unrealized Gains (Losses) on AFS Securities Including Noncontrolling Interest
Pre-tax Gain (Loss)
OCI activity	(317)	(26)	(1,146)	2,142
Reclassified to earnings	(17)	(55)	(209)	(106)
Net OCI	(334)	(81)	(1,355)	2,036
Income Tax Benefit (Provision)
OCI activity	74	6	267	(503)
Reclassified to earnings	4	13	49	25
Net OCI	78	19	316	(478)
After-tax Gain (Loss)
OCI activity	(243)	(20)	(879)	1,639
Reclassified to earnings	(13)	(42)	(160)	(81)
Net OCI	(256)	(62)	(1,039)	1,558
Change in Net Unrealized Gains (Losses) on AFS Securities Attributable to Noncontrolling Interest
After-tax Gain (Loss)
OCI activity	0	0	0	0
Reclassified to earnings	0	0	0	0
Net OCI	0	0	0	0
Pension, Postretirement and Other Attributable to Parent
After-tax Gain (Loss)
OCI activity	0	0	8	16
Reclassified to earnings	5	5	14	13
Net OCI	5	5	22	29
Pension, Postretirement and Other Including Noncontrolling Interest
Pre-tax Gain (Loss)
OCI activity	0	(1)	8	20
Reclassified to earnings	7	6	21	16
Net OCI	7	5	29	36
Income Tax Benefit (Provision)
OCI activity	0	1	0	(4)
Reclassified to earnings	(2)	(1)	(7)	(3)
Net OCI	(2)	0	(7)	(7)
After-tax Gain (Loss)
OCI activity	0	0	8	16
Reclassified to earnings	5	5	14	13
Net OCI	5	5	22	29
Pension, Postretirement and Other Attributable to Noncontrolling Interest
After-tax Gain (Loss)
OCI activity	0	0	0	0
Reclassified to earnings	0	0	0	0
Net OCI	0	0	0	0
Change in Net DVA Attributable to Parent
After-tax Gain (Loss)
OCI activity	132	(568)	416	693
Reclassified to earnings	6	6	27	10
Net OCI	138	(562)	443	703
Change in Net DVA Including Noncontrolling Interest
Pre-tax Gain (Loss)
OCI activity	187	(747)	591	967
Reclassified to earnings	9	8	36	14
Net OCI	196	(739)	627	981
Income Tax Benefit (Provision)
OCI activity	(46)	178	(148)	(233)
Reclassified to earnings	(3)	(2)	(9)	(4)
Net OCI	(49)	176	(157)	(237)
After-tax Gain (Loss)
OCI activity	141	(569)	443	734
Reclassified to earnings	6	6	27	10
Net OCI	147	(563)	470	744
Change in Net DVA Attributable to Noncontrolling Interest
After-tax Gain (Loss)
OCI activity	9	(1)	27	41
Reclassified to earnings	0	0	0	0
Net OCI	$ 9	$ (1)	$ 27	$ 41

Interest Income and Interest _3

Interest Income and Interest Expense - Summary (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest income
Investment securities	$ 643	$ 529	$ 2,100	$ 1,603
Loans	1,063	967	3,091	3,171
Securities purchased under agreements to resell and Securities borrowed	(282)	(187)	(899)	70
Trading assets, net of Trading liabilities	525	537	1,521	1,902
Customer receivables and Other	402	210	1,187	1,171
Total interest income	2,351	2,056	7,000	7,917
Interest expense
Deposits	102	178	330	804
Borrowings	597	714	2,030	2,534
Securities sold under agreements to repurchase and Securities loaned	131	165	361	883
Customer payables and Other	(542)	(487)	(1,677)	(746)
Total interest expense	288	570	1,044	3,475
Net interest	$ 2,063	$ 1,486	$ 5,956	$ 4,442

Interest Income and Interest _4

Interest Income and Interest Expense - Accrued Interest (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Interest Income (Expense), Net [Abstract]
Customer and other receivables	$ 2,229	$ 1,652
Customer and other payables	$ 2,374	$ 2,119

Segment, Geographic and Reven_3

Segment, Geographic and Revenue Information - Selected Financial Information by Business Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information
Investment banking	$ 3,013	$ 1,826	$ 8,413	$ 5,239
Trading	2,861	3,150	10,416	10,754
Investments	45	346	744	659
Commissions and fees	1,280	1,037	4,214	3,499
Asset management	5,201	3,664	14,572	10,346
Other	290	212	916	221
Total non-interest revenues	12,690	10,235	39,275	30,718
Interest income	2,351	2,056	7,000	7,917
Interest expense	288	570	1,044	3,475
Net interest	2,063	1,486	5,956	4,442
Net revenues	14,753	11,721	45,231	35,160
Provision for credit losses	24	111	(1)	757
Compensation and benefits	5,920	5,086	19,141	15,404
Non-compensation expenses	3,935	3,037	11,307	9,011
Total non-interest expenses	9,855	8,123	30,448	24,415
Income before provision for income taxes	4,874	3,487	14,784	9,988
Provision for income taxes	1,150	736	3,380	2,221
Net income	3,724	2,751	11,404	7,767
Net income (loss) applicable to noncontrolling interests	17	34	66	156
Net income applicable to Morgan Stanley	3,707	2,717	11,338	7,611
I/E
Segment Reporting Information
Investment banking	(22)	(16)	(65)	(66)
Trading	21	15	63	56
Investments	0	0	0	0
Commissions and fees	(88)	(80)	(272)	(270)
Asset management	(42)	(38)	(117)	(120)
Other	(1)	(3)	(7)	(7)
Total non-interest revenues	(132)	(122)	(398)	(407)
Interest income	(69)	(102)	(133)	(382)
Interest expense	(71)	(106)	(140)	(395)
Net interest	2	4	7	13
Net revenues	(130)	(118)	(391)	(394)
Provision for credit losses	0	0	0	0
Compensation and benefits	0	0	0	0
Non-compensation expenses	(131)	(122)	(397)	(400)
Total non-interest expenses	(131)	(122)	(397)	(400)
Income before provision for income taxes	1	4	6	6
Provision for income taxes	0	1	1	1
Net income	1	3	5	5
Net income (loss) applicable to noncontrolling interests	0	0	0	0
Net income applicable to Morgan Stanley	1	3	5	5
IS | Operating Segments
Segment Reporting Information
Investment banking	2,849	1,707	7,838	4,902
Trading	2,897	2,865	10,048	10,298
Investments	52	87	199	98
Commissions and fees	664	639	2,216	2,230
Asset management	145	114	432	342
Other	172	123	467	11
Total non-interest revenues	6,779	5,535	21,200	17,881
Interest income	948	1,086	2,791	4,809
Interest expense	232	492	827	3,184
Net interest	716	594	1,964	1,625
Net revenues	7,495	6,129	23,164	19,506
Provision for credit losses	24	113	1	718
Compensation and benefits	2,248	2,001	7,795	6,767
Non-compensation expenses	2,250	1,967	6,526	6,030
Total non-interest expenses	4,498	3,968	14,321	12,797
Income before provision for income taxes	2,973	2,048	8,842	5,991
Provision for income taxes	713	385	2,023	1,326
Net income	2,260	1,663	6,819	4,665
Net income (loss) applicable to noncontrolling interests	31	16	85	75
Net income applicable to Morgan Stanley	2,229	1,647	6,734	4,590
WM | Operating Segments
Segment Reporting Information
Investment banking	186	135	640	403
Trading	(58)	268	323	413
Investments	8	1	24	9
Commissions and fees	704	477	2,269	1,538
Asset management	3,628	2,793	10,266	7,980
Other	119	91	479	256
Total non-interest revenues	4,587	3,765	14,001	10,599
Interest income	1,464	1,065	4,316	3,468
Interest expense	116	176	328	653
Net interest	1,348	889	3,988	2,815
Net revenues	5,935	4,654	17,989	13,414
Provision for credit losses	0	(2)	(2)	39
Compensation and benefits	3,159	2,684	9,604	7,625
Non-compensation expenses	1,246	852	3,621	2,433
Total non-interest expenses	4,405	3,536	13,225	10,058
Income before provision for income taxes	1,530	1,120	4,766	3,317
Provision for income taxes	373	278	1,103	758
Net income	1,157	842	3,663	2,559
Net income (loss) applicable to noncontrolling interests	0	0	0	0
Net income applicable to Morgan Stanley	1,157	842	3,663	2,559
IM | Operating Segments
Segment Reporting Information
Investment banking	0	0	0	0
Trading	1	2	(18)	(13)
Investments	(15)	258	521	552
Commissions and fees	0	1	1	1
Asset management	1,470	795	3,991	2,144
Other	0	1	(23)	(39)
Total non-interest revenues	1,456	1,057	4,472	2,645
Interest income	8	7	26	22
Interest expense	11	8	29	33
Net interest	(3)	(1)	(3)	(11)
Net revenues	1,453	1,056	4,469	2,634
Provision for credit losses	0	0	0	0
Compensation and benefits	513	401	1,742	1,012
Non-compensation expenses	570	340	1,557	948
Total non-interest expenses	1,083	741	3,299	1,960
Income before provision for income taxes	370	315	1,170	674
Provision for income taxes	64	72	253	136
Net income	306	243	917	538
Net income (loss) applicable to noncontrolling interests	(14)	18	(19)	81
Net income applicable to Morgan Stanley	$ 320	$ 225	$ 936	$ 457

Segment, Geographic and Reven_4

Segment, Geographic and Revenue Information - Institutional Securities - Investment Banking Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from External Customer [Line Items]
Investment banking	$ 3,013	$ 1,826	$ 8,413	$ 5,239
Firm Investment banking revenues from contracts with customers (as a percent)	91.00%	95.00%	91.00%	92.00%
Institutional Securities | Operating Segments
Revenue from External Customer [Line Items]
Investment banking	$ 2,849	$ 1,707	$ 7,838	$ 4,902
Institutional Securities | Operating Segments | Advisory
Revenue from External Customer [Line Items]
Investment banking	1,272	357	2,416	1,181
Institutional Securities | Operating Segments | Underwriting
Revenue from External Customer [Line Items]
Investment banking	$ 1,577	$ 1,350	$ 5,422	$ 3,721

Segment, Geographic and Reven_5

Segment, Geographic and Revenue Information - Trading Revenues by Product Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue
Trading revenues	$ 2,861	$ 3,150	$ 10,416	$ 10,754
Interest rate
Disaggregation of Revenue
Trading revenues	(32)	511	844	2,593
Foreign exchange
Disaggregation of Revenue
Trading revenues	253	138	841	603
Equity security and index
Disaggregation of Revenue
Trading revenues	1,903	1,478	5,631	4,494
Commodity and other
Disaggregation of Revenue
Trading revenues	538	553	2,079	1,286
Credit
Disaggregation of Revenue
Trading revenues	$ 199	$ 470	$ 1,021	$ 1,778

Segment, Geographic and Reven_6

Segment, Geographic and Revenue Information - Investment Management Investments Revenues - Net Unrealized Carried Interest (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Net cumulative unrealized performance-based income at risk of reversing	$ 774	$ 735

Segment, Geographic and Reven_7

Segment, Geographic and Revenue Information - Investment Management Asset Management Revenues - Reduction of Fees due to Fee Waivers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Fee waivers	$ 139	$ 37	$ 364	$ 70

Segment, Geographic and Reven_8

Segment, Geographic and Revenue Information - Other Expenses - Transaction Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Transaction taxes	$ 262	$ 194	$ 717	$ 524

Segment, Geographic and Reven_9

Segment, Geographic and Revenue Information - Net Revenues by Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information
Net revenues	$ 14,753	$ 11,721	$ 45,231	$ 35,160
Americas
Segment Reporting Information
Net revenues	11,255	8,455	33,331	25,293
EMEA
Segment Reporting Information
Net revenues	1,752	1,472	6,004	4,778
Asia
Segment Reporting Information
Net revenues	$ 1,746	$ 1,794	$ 5,896	$ 5,089

Segment, Geographic and Reve_10

Segment, Geographic and Revenue Information - Revenue Recognized from Prior Services (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Non-interest revenues	$ 1,308	$ 556	$ 1,862	$ 1,616

Segment, Geographic and Reve_11

Segment, Geographic and Revenue Information - Receivables from Contracts with Customers (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Customer and other receivables	$ 3,592	$ 3,200

Segment, Geographic and Reve_12

Segment, Geographic and Revenue Information - Assets by Business Segment (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information
Assets	$ 1,190,476	$ 1,115,862
Institutional Securities
Segment Reporting Information
Assets	808,252	753,322
Wealth Management
Segment Reporting Information
Assets	364,634	355,595
Investment Management
Segment Reporting Information
Assets	$ 17,590	$ 6,945