Morgan Stanley (MS) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	MS
Entity Registrant Name	MORGAN STANLEY
Entity Central Index Key	895,421
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,936,223,959

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Investment banking	$ 1,313	$ 1,551	$ 4,284	$ 4,492
Trading	2,026	2,448	8,649	7,926
Investments	(119)	138	408	724
Commissions and fees	1,115	1,124	3,459	3,478
Asset management, distribution and administration fees	2,732	2,716	8,155	7,886
Other	(62)	373	406	873
Total non-interest revenues	7,005	8,350	25,361	25,379
Interest income	1,451	1,384	4,321	3,977
Interest expense	689	827	2,265	2,845
Net interest	762	557	2,056	1,132
Net revenues	7,767	8,907	27,417	26,511
Non-interest expenses:
Compensation and benefits	3,437	4,214	12,366	12,720
Occupancy and equipment	341	350	1,034	1,069
Brokerage, clearing and exchange fees	485	437	1,435	1,338
Information processing and communications	447	396	1,300	1,231
Marketing and business development	158	160	487	472
Professional services	576	522	1,660	1,506
Other	849	608	2,079	1,653
Total non-interest expenses	6,293	6,687	20,361	19,989
Income from continuing operations before income taxes	1,474	2,220	7,056	6,522
Provision for income taxes	423	463	1,704	1,263
Income from continuing operations	1,051	1,757	5,352	5,259
Discontinued operations:
Income (loss) from discontinued operations before income taxes	(4)	(8)	(13)	(11)
Provision for (benefit from) income taxes	(2)	(3)	(4)	(5)
Income (loss) from discontinued operations	(2)	(5)	(9)	(6)
Net income	1,049	1,752	5,343	5,253
Net income applicable to nonredeemable noncontrolling interests	31	59	124	156
Net income applicable to Morgan Stanley	1,018	1,693	5,219	5,097
Preferred stock dividends and other	79	64	301	199
Earnings applicable to Morgan Stanley common shareholders	$ 939	$ 1,629	$ 4,918	$ 4,898
Earnings per basic common share:
Income from continuing operations	$ 0.49	$ 0.85	$ 2.57	$ 2.55
Income (loss) from discontinued operations	0	0	0	(0.01)
Earnings per basic common share	0.49	0.85	2.57	2.54
Earnings per diluted common share:
Income from continuing operations	0.48	0.83	2.52	2.49
Income (loss) from discontinued operations	0	0	(0.01)	0
Earnings per diluted common share	0.48	0.83	2.51	2.49
Dividends declared per common share	$ 0.15	$ 0.1	$ 0.4	$ 0.25
Average common shares outstanding:
Basic	1,904,213,493	1,922,995,835	1,915,807,606	1,925,172,108
Diluted	1,949,281,601	1,970,922,473	1,957,544,581	1,970,091,170

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Comprehensive Income
Net income		$ 1,049	$ 1,752	$ 5,343	$ 5,253
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	[1]	(61)	(327)	(249)	(175)
Change in net unrealized gains (losses) on available for sale securities	[2]	100	(102)	72	134
Pension, postretirement and other	[3]	4	(15)	3	(7)
Total other comprehensive income (loss)		43	(444)	(174)	(48)
Comprehensive income		1,092	1,308	5,169	5,205
Net income applicable to nonredeemable noncontrolling interests		31	59	124	156
Other comprehensive income (loss) applicable to nonredeemable noncontrolling interests		15	(62)	(3)	(26)
Comprehensive income applicable to Morgan Stanley		1,046	1,311	5,048	5,075
Parenthetical Disclosures
Foreign currency translation adjustments, provision for (benefit from) income taxes		30	249	150	137
Change in net unrealized gains (losses) on available for sale securities, provision for (benefit from) income taxes		57	(70)	41	92
Pension, postretirement and other, provision for (benefit from) income taxes		$ (2)	$ (7)	$ (2)	$ (4)
[1]	Amounts include provision for (benefit from) income taxes of $ 30 million and $ 249 million for the quarters ended September 30, 2015 and 2014 , respectively, and $ 150 million and $ 137 million for the nine months ended September 30, 2015 and 2014 , respectively.
[2]	Amounts include provision for (benefit from) income taxes of $ 57 million and $ (70) million for the quarters ended September 30, 2015 and 2014 , respectively, and $ 41 million and $ 92 million for the nine months ended September 30, 2015 and 2014 , respec tively.
[3]	Amounts include provision for (benefit from) income taxes of $ (2) million and $ (7) million for the quarters ended September 30, 2015 and 2014 , respectively, and $ (2) million and $ (4) million for the nine months ended September 30, 2015 and 2014 , respective ly.

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks ($13 and $45 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	$ 19,244	$ 21,381
Interest bearing deposits with banks	34,274	25,603
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements ($165 and $149 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	35,552	40,607
Trading assets, at fair value ($129,632 and $127,342 were pledged to various parties at September 30, 2015 and December 31, 2014, respectively) ($834 and $966 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	237,811	256,801
Investment securities (includes $61,159 and $69,216 at fair value at September 30, 2015 and December 31, 2014, respectively)	64,689	69,316
Securities received as collateral, at fair value	9,456	21,316
Securities purchased under agreements to resell (includes $809 and $1,113 at fair value at September 30, 2015 and December 31, 2014, respectively)	127,206	83,288
Securities borrowed	148,245	136,708
Customer and other receivables	50,070	48,961
Loans
Held for investment (net of allowances of $173 and $149 at September 30, 2015 and December 31, 2014, respectively)	69,010	57,119
Held for sale	9,199	9,458
Other investments ($364 and $467 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	4,282	4,355
Premises, equipment and software costs (net of accumulated depreciation of $6,906 and $6,219 at September 30, 2015 and December 31, 2014, respectively) ($187 and $191 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	6,259	6,108
Goodwill	6,587	6,588
Intangible assets (net of accumulated amortization of $2,050 and $1,824 at September 30, 2015 and December 31, 2014, respectively) (includes $5 and $6 at fair value at September 30, 2015 and December 31, 2014, respectively)	3,069	3,159
Other assets ($57 and $59 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally not available to the Company)	9,160	10,742
Total assets	834,113	801,510
Liabilities
Deposits	147,226	133,544
Short-term borrowings (includes $1,768 and $1,765 at fair value at September 30, 2015 and December 31, 2014, respectively)	1,982	2,261
Trading liabilities, at fair value	125,525	107,381
Obligation to return securities received as collateral, at fair value	20,328	25,685
Securities sold under agreements to repurchase (includes $597 and $612 at fair value at September 30, 2015 and December 31, 2014, respectively)	58,570	69,949
Securities loaned	20,644	25,219
Other secured financings (includes $3,450 and $4,504 at fair value at September 30, 2015 and December 31, 2014, respectively) ($456 and $348 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally non-recourse to the Company)	10,171	12,085
Customer and other payables	193,775	181,069
Other liabilities and accrued expenses ($3 and $72 at September 30, 2015 and December 31, 2014, respectively, related to consolidated variable interest entities, generally non-recourse to the Company)	19,129	19,441
Long-term borrowings (includes $31,387 and $31,774 at fair value at September 30, 2015 and December 31, 2014, respectively)	160,343	152,772
Total liabilities	$ 757,693	$ 729,406
Commitments and contingent liabilities
Morgan Stanley shareholders' equity:
Preferred stock	$ 7,520	$ 6,020
Common stock, $0.01 par value: Shares authorized: 3,500,000,000 at September 30, 2015 and December 31, 2014; Shares issued: 2,038,893,979 at September 30, 2015 and December 31, 2014; Shares outstanding: 1,938,069,312 and 1,950,980,142 at September 30, 2015 and December 31, 2014, respectively	20	20
Additional Paid-in capital	23,876	24,249
Retained earnings	48,746	44,625
Employee stock trusts	2,399	2,127
Accumulated other comprehensive loss	(1,419)	(1,248)
Common stock held in treasury, at cost, $0.01 par value: Shares outstanding: 100,824,667 and 87,913,837 at September 30, 2015 and December 31, 2014, respectively	(3,456)	(2,766)
Common stock issued to employee trusts	(2,399)	(2,127)
Total Morgan Stanley shareholders' equity	75,287	70,900
Nonredeemable noncontrolling interests	1,133	1,204
Total equity	76,420	72,104
Total liabilities and equity	$ 834,113	$ 801,510

Consolidated Statements of Fin5

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Cash and due from banks	$ 19,244	$ 21,381
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	35,552	40,607
Trading assets pledged to various parties	129,632	127,342
Trading assets, fair value	237,811	256,801
Total AFS securities, Fair value	61,159	69,216
Federal funds sold and securities purchased under agreement to resell, fair value	809	1,113
Other investments	4,282	4,355
Allowances, loans	173	149
Premises, equipment and software costs, accumulated depreciation	6,906	6,219
Premises, equipment and software costs	6,259	6,108
Intangible assets, accumulated amortization	2,050	1,824
Intangible assets, fair value	5	6
Other assets	9,160	10,742
Commercial paper and other short-term borrowings, fair value	1,768	1,765
Securities sold under agreement to repurchase, fair value	597	612
Other secured financings, fair value	3,450	4,504
Other secured financings	10,171	12,085
Trading liabilities, at fair value	125,525	107,381
Other liabilities and accrued expenses	19,129	19,441
Long-term borrowings, fair value	$ 31,387	$ 31,774
Common stock par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	3,500,000,000	3,500,000,000
Common stock, shares issued	2,038,893,979	2,038,893,979
Common stock, shares outstanding	1,938,069,312	1,950,980,142
Common stock held in treasury, shares	100,824,667	87,913,837
Consolidated VIEs
Cash and due from banks	$ 13	$ 45
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	165	149
Trading assets, fair value	834	966
Other investments	364	467
Premises, equipment and software costs	187	191
Other assets	57	59
Other secured financings	456	348
Other liabilities and accrued expenses	$ 3	$ 72

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	Employee Stock Trusts	Accumulated Other Comprehensive Income (Loss)	Common Stock Held in Treasury at Cost	Common Stock Issued to Employee Stock Trusts	Non-Redeemable Non-controlling Interests
BALANCE AT at Dec. 31, 2013	$ 69,030	$ 3,220	$ 20	$ 24,570	$ 42,172	$ 1,718	$ (1,093)	$ (2,968)	$ (1,718)	$ 3,109
Net income applicable to Morgan Stanley	5,097				5,097
Net income applicable to nonredeemable noncontrolling interest	156									156
Dividends	(696)				(696)
Shares issued under employee plans and related tax effects	1,011			(627)		409		1,638	(409)
Repurchases of common stock and employee tax withholdings	(1,172)							(1,172)
Net change in Accumulated other comprehensive income	(48)						(22)			(26)
Issuance of preferred stock	2,782	2,800		(18)
Deconsolidation of certain legal entities associated with a real estate fund	(1,606)									(1,606)
Other net increases (decreases)	(543)			(3)						(540)
BALANCE AT at Sep. 30, 2014	74,011	6,020	20	23,922	46,573	2,127	(1,115)	(2,502)	(2,127)	1,093
BALANCE AT at Dec. 31, 2014	72,104	6,020	20	24,249	44,625	2,127	(1,248)	(2,766)	(2,127)	1,204
Net income applicable to Morgan Stanley	5,219				5,219
Net income applicable to nonredeemable noncontrolling interest	124									124
Dividends	(1,098)				(1,098)
Shares issued under employee plans and related tax effects	1,089			(356)		272		1,445	(272)
Repurchases of common stock and employee tax withholdings	(2,135)							(2,135)
Net change in Accumulated other comprehensive income	(174)						(171)			(3)
Issuance of preferred stock	1,493	1,500		(7)
Deconsolidation of certain legal entities associated with a real estate fund	(191)									(191)
Other net increases (decreases)	(11)			(10)						(1)
BALANCE AT at Sep. 30, 2015	$ 76,420	$ 7,520	$ 20	$ 23,876	$ 48,746	$ 2,399	$ (1,419)	$ (3,456)	$ (2,399)	$ 1,133

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 5,343	$ 5,253
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Income from equity method investments	(118)	(108)
Compensation payable in common stock and options	836	933
Depreciation and amortization	1,023	748
Net gain on sale of available for sale securities	(74)	(36)
Impairment charges	91	85
Provision (release) for credit losses on lending activities	47	1
Other operating activities	264	(167)
Changes in assets and liabilities:
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	5,055	(5,903)
Trading assets, net of Trading liabilities	39,775	39,156
Securities borrowed	(11,537)	(10,596)
Securities loaned	(4,575)	(5,142)
Customer and other receivables and other assets	787	2,931
Customer and other payables and other liabilities	10,351	23,335
Securities purchased under agreements to resell	(43,918)	19,136
Securities sold under agreements to repurchase	(11,313)	(61,935)
Net cash provided by (used for) operating activities	(7,963)	7,691
Proceeds from (payments for):
Premises, equipment and software, net	(964)	(533)
Business dispositions, net of cash disposed	0	962
Loans
Purchases, net of proceeds from sales	(1,053)	(797)
Originations, net of repayments	(10,260)	(13,177)
Investment securities:
Purchases	(32,133)	(24,581)
Proceeds from sales	32,788	11,212
Proceeds from paydowns and maturities	4,285	3,415
Other investing activities	(61)	(264)
Net cash provided by (used for) investing activities	(7,398)	(23,763)
Net proceeds from (payments for):
Short-term borrowings	(279)	(382)
Nonredeemable noncontrolling interests	(70)	(189)
Other secured financings	(1,677)	(1,725)
Deposits	13,682	12,003
Proceeds from:
Excess tax benefits associated with stock-based awards	180	91
Derivatives financing activities	392	784
Proceeds from issuance of preferred stock, net of issuance costs	1,493	2,782
Issuance of long-term borrowings	30,159	26,529
Payments for:
Long-term borrowings	(17,615)	(24,731)
Derivatives financing activities	(372)	(384)
Repurchases of common stock and employee tax withholdings	(2,135)	(1,172)
Cash dividends	(1,096)	(652)
Net cash provided by (used for) financing activities	22,662	12,954
Effect of exchange rate changes on cash and cash equivalents	(767)	(939)
Net decrease in cash and cash equivalents	6,534	(4,057)
Cash and cash equivalents, at beginning of period	46,984	59,883
Cash and cash equivalents, at end of period	53,518	55,826
Cash and cash equivalents include:
Cash and due from banks	19,244	20,242
Interest bearing deposits with banks	34,274	35,584
Cash and cash equivalents, at end of period	53,518	55,826
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	1,456	2,116
Cash payments for income taxes	$ 541	$ 620

Introduction and Basis of Prese

Introduction and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Introduction and Basis of Presentation [Abstract]
Introduction And Basis Of Presentation	1. Introduction and Basis of Presentation. The Company. Morgan Stanley, a financial holding company, 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 “Company” mean Morgan Stanley (the “Parent”) together with its consolidated subsidiaries. For a summary of the activities of each of the Company’s bus iness segments, see Note 1 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Form 10-K”). Basis of Financial Information. The Company’s condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) , which require the Company to make estimates and assumptions regarding the valuations of certain financial instruments, the valuation of goodwill and intangible assets, compensation, deferred tax assets, the outcome of legal and tax matters, allowance for credit losses and other matters tha t affect its condensed consolidated financial statements and related disclosures. The Company believes that the estimates utilized in the preparation of its condensed consolidated financial statements are prudent and reasonable. Actual results could differ materially from these estimates. Intercompany balances and transactions have been eliminated. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes there to included in the 2014 Form 10-K. Certain footnote disclosures included in the 2014 Form 10-K have been condensed or omitted from the condensed consolidated financial statements as they are not required for interim reporting under U.S. GAAP. The condensed consolidated 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 condensed consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries and other entities in which the Company has a controlling finan cial interest, including certain variable interest entities (“VIE”) (see Note 12). For consolidated subsidiaries that are less than wholly owned, the third-party holdings of equity interests are referred to as noncontrolling interests. The net income at tributable to noncontrolling interests for such subsidiaries is presented as Net income (loss) applicable to nonredeemable noncontrolling interests in the Company’s condensed consolidated statements of income. The portion of shareholders’ equity of such su bsidiaries that is attributable to noncontrolling interests for such subsidiaries is presented as Nonredeemable noncontrolling interests, a component of total equity, in the Company’s condensed consolidated statements of financial condition. For a discuss ion of the Company’s VIEs and its significant regulated U.S. and international subsidiaries, see Note 1 to the consolidated financial statements in the 2014 Form 10-K. Income Statement Presentation. The Company, through its subsidiaries and affiliat es, 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 . In connection with the delivery of the various products and services to clients, the Company manages its revenues and related expenses in the aggregate. As such, when assessing the performance of its businesses, primarily in its Institutional Securities business segment, the Company considers its trading, investment banking, commissions and fees , and interest income, along with the associated interest expense, as one integrated activity. Statements of Cash Flows Presentation. During 2015, the Company deconsolidated approximately $ 191 million in net assets previously attributable to nonredeemable noncontrolling interests that were related to a real estate fund sponsored by the Company. The deconsolidation resulted in a non-cash reduct ion of assets of $ 169 million. During 2014, the Company deconsolidated approximately $ 1.6 billion in net assets previously attributable to nonredeemable noncontrolling interests related to certain legal entities associated with another real estate fund spo nsored by the Company. The deconsolidation resulted in a non-cash reduction of assets of $ 1.3 billion. Global Oil Merchanting Business. As a result of entering into a definitive agreement to sell the global oil merchanting unit of the commodities d ivision to Castleton Commodities International LLC, on May 11, 2015, the Company recognized an impairment charge of $ 10 million and $ 69 million in Other revenues in the Company’s condensed consolidated statements of income in the quarter and nine months en ded September 30, 2015, respectively, to reduce the carrying amount of the unit to its estimated fair value less costs to sell. The Company close d the transaction o n November 1, 2015. The transaction does not meet the criteria for disco ntinued operations and is not expected to have a material impact on the Company’s financial results (see Note 3). TransMontaigne. On July 1, 2014, the Company completed the sale of its ownership stake in TransMontaigne Inc. (“TransMontaigne”) , a U.S .-based oil storage, mar keting and transportation company, as well as related physical inventory and the assumption of the Company’s obligations under certain terminal storage contracts, to NGL Energy Partners LP. The gain on sale, which was included in continuing operations, was approximately $ 101 million for the quarter and nine months ended September 30, 2014. CanTerm . On March 27, 2014, the Company completed the sale of Canterm Canadian Terminals Inc. (“ CanTerm ”), a public storage terminal operator for refined products with two distribution terminals in Canada. As a result of the Company’s level of continuing involvement with CanTerm , the results of CanTerm are reported as a component of continuing operations within the Company’s Institutional Securities business segment for the nine months ended September 30, 2014. The gain on sale was approximately $ 45 million and is included in the condensed consolidated statement of income for the nine months ended September 30, 2014.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies . For a detailed discussion about the Company’s significant accounting policies, see Note 2 to the consolidated financial statements in the 2014 Form 10-K. During the quarter and nine months ended September 30, 2015 , other than the following, there were no significant updates made to the Company’s significant accounting policies. Accounting Standards Adopted. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the Financi al Accounting Standards Board (the “FASB”) issued an accounting update requiring repurchase-to-maturity transactions be accounted for as secured borrowings consistent with the accounting for other repurchase agreements. This accounting update also requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty (a repurchase financing), which will result in secured borrowing accounting for the repurchase agreement. This guidan ce became effective for the Company beginning January 1, 2015. In addition, new disclosures are required for sales of financial assets where the Company retains substantially all the exposure throughout the term and for the collateral pledged and remaining maturity of repurchase and securities lending agreements, which were effective January 1, 2015, and April 1, 2015, respectively. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. For further information on the adoption of this guidance, see Notes 6 and 12. Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). In May 2015, the FASB issued an accounting update that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured at net asset value (“NAV”) per share, or its equivalent using the practical expedient . The Company adopted this guidance retrospecti vely during the second quarter of 2015, as early adoption is permitted. For further information on the adoption of this guidance, see Note 3. Goodwill. The Company completed its annual goodwill impairment testing at July 1, 2015. The Company’s impairme nt testing did not indicate any goodwill impairment, as each of the Company’s reporting units with goodwill had a fair value that was substantially in excess of its carrying value. However, adverse market or economic events could result in impairment charg es in future periods.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures
Fair Value Disclosures	3. Fair Value s. Fair Value Measurements. For a description of the valuation techniques applied to the Company’s major categories of assets and liabilities measured at fair value on a recurring basis , see Note 4 to the consolidated financial statements in the 2014 Form 10-K. The following fair value hierarchy tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014 . Assets and Liabilities Measured at Fair Value on a Recurring Basis. At September 30, 2015. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at September 30, 2015 (dollars in millions) Assets at Fair Value Trading assets: U.S. government and agency securities: U.S. Treasury securities $ 18,359 $ — $ — $ — $ 18,359 U.S. agency securities 1,328 18,690 — — 20,018 Total U.S. government and agency securities 19,687 18,690 — — 38,377 Other sovereign government obligations 19,597 7,493 11 — 27,101 Corporate and other debt: State and municipal securities — 1,954 33 — 1,987 Residential mortgage-backed securities — 1,746 404 — 2,150 Commercial mortgage-backed securities — 1,868 79 — 1,947 Asset-backed securities — 771 31 — 802 Corporate bonds — 13,207 226 — 13,433 Collateralized debt and loan obligations — 187 545 — 732 Loans and lending commitments — 6,170 5,164 — 11,334 Other debt — 1,714 530 — 2,244 Total corporate and other debt — 27,617 7,012 — 34,629 Corporate equities(1) 96,023 491 575 — 97,089 Derivative and other contracts: Interest rate contracts 860 368,503 2,160 — 371,523 Credit contracts — 23,844 937 — 24,781 Foreign exchange contracts 102 70,801 347 — 71,250 Equity contracts 876 49,833 951 — 51,660 Commodity contracts 3,392 14,646 3,203 — 21,241 Other — 364 — — 364 Netting(2) (4,652) (437,820) (3,981) (61,072) (507,525) Total derivative and other contracts 578 90,171 3,617 (61,072) 33,294 Investments: Investments measured at NAV(3) 4,278 Principal investments 23 97 541 — 661 Other 149 204 312 — 665 Total investments 172 301 853 — 5,604 Physical commodities — 1,717 — — 1,717 Total trading assets 136,057 146,480 12,068 (61,072) 237,811 AFS securities 27,765 33,394 — — 61,159 Securities received as collateral 9,455 — 1 — 9,456 Securities purchased under agreements to resell — 809 — — 809 Intangible assets(4) — — 5 — 5 Total assets measured at fair value $ 173,277 $ 180,683 $ 12,074 $ (61,072) $ 309,240 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at September 30, 2015 (dollars in millions) Liabilities at Fair Value Short-term borrowings $ — $ 1,699 $ 69 $ — $ 1,768 Trading liabilities: U.S. government and agency securities: U.S. Treasury securities 14,524 — — — 14,524 U.S. agency securities 1,026 135 — — 1,161 Total U.S. government and agency securities 15,550 135 — — 15,685 Other sovereign government obligations 13,611 2,379 — — 15,990 Corporate and other debt: State and municipal securities — 3 — — 3 Corporate bonds — 6,783 19 — 6,802 Lending commitments — 2 — — 2 Other debt — 7 4 — 11 Total corporate and other debt — 6,795 23 — 6,818 Corporate equities(1) 50,017 1,145 97 — 51,259 Derivative and other contracts: Interest rate contracts 780 346,806 2,071 — 349,657 Credit contracts — 22,900 1,742 — 24,642 Foreign exchange contracts 60 72,593 281 — 72,934 Equity contracts 691 53,728 2,992 — 57,411 Commodity contracts 3,845 13,551 1,771 — 19,167 Other — 51 — — 51 Netting(2) (4,652) (437,820) (3,981) (41,636) (488,089) Total derivative and other contracts 724 71,809 4,876 (41,636) 35,773 Total trading liabilities 79,902 82,263 4,996 (41,636) 125,525 Obligation to return securities received as collateral 20,327 — 1 — 20,328 Securities sold under agreements to repurchase — 443 154 — 597 Other secured financings — 3,109 341 — 3,450 Long-term borrowings — 28,925 2,462 — 31,387 Total liabilities measured at fair value $ 100,229 $ 116,439 $ 8,023 $ (41,636) $ 183,055 _____________ AFS—available for sale (1) For trading purposes, the Company holds or sells short equity securities issued by entities in diverse industries and of varying size. (2) 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 “Counterparty and Cash Collateral Netting.” For contracts with the same counterparty, counterparty netting among positions classified within the same level is included within that shared level. For further information on derivative instruments and hedging activities, see Note 4. (3) Certain investments that are measured at fai r value using the NAV per share, or its equivalent , are not classi fied in the fair value hierarchy. For additional disclosure about such investments, see “Fair Value of Investments that are Measured at Net Asset Value” herein. (4) Amount represents mortgage servicing rights (“MSRs”) accounted for at fair value . At December 31, 2014. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at December 31, 2014 (dollars in millions) Assets at Fair Value Trading assets: U.S. government and agency securities: U.S. Treasury securities $ 16,961 $ — $ — $ — $ 16,961 U.S. agency securities 850 18,193 — — 19,043 Total U.S. government and agency securities 17,811 18,193 — — 36,004 Other sovereign government obligations 15,149 7,888 41 — 23,078 Corporate and other debt: State and municipal securities — 2,049 — — 2,049 Residential mortgage-backed securities — 1,991 175 — 2,166 Commercial mortgage-backed securities — 1,484 96 — 1,580 Asset-backed securities — 583 76 — 659 Corporate bonds — 15,800 386 — 16,186 Collateralized debt and loan obligations — 741 1,152 — 1,893 Loans and lending commitments — 6,088 5,874 — 11,962 Other debt — 2,167 285 — 2,452 Total corporate and other debt — 30,903 8,044 — 38,947 Corporate equities(1) 112,490 1,357 272 — 114,119 Derivative and other contracts: Interest rate contracts 663 495,026 2,484 — 498,173 Credit contracts — 30,813 1,369 — 32,182 Foreign exchange contracts 83 72,769 249 — 73,101 Equity contracts(2) 571 45,967 1,586 — 48,124 Commodity contracts 4,105 18,042 2,268 — 24,415 Other — 376 — — 376 Netting(3) (4,910) (564,127) (4,220) (66,720) (639,977) Total derivative and other contracts 512 98,866 3,736 (66,720) 36,394 Investments: Investments measured at NAV(4) 5,009 Principal investments 58 3 835 — 896 Other 225 198 323 — 746 Total investments 283 201 1,158 — 6,651 Physical commodities — 1,608 — — 1,608 Total trading assets 146,245 159,016 13,251 (66,720) 256,801 AFS securities 37,200 32,016 — — 69,216 Securities received as collateral 21,265 51 — — 21,316 Securities purchased under agreements to resell — 1,113 — — 1,113 Intangible assets(5) — — 6 — 6 Total assets measured at fair value $ 204,710 $ 192,196 $ 13,257 $ (66,720) $ 348,452 Liabilities at Fair Value Short-term borrowings $ — $ 1,765 $ — $ — $ 1,765 Trading liabilities: U.S. government and agency securities: U.S. Treasury securities 14,199 — — — 14,199 U.S. agency securities 1,274 85 — — 1,359 Total U.S. government and agency securities 15,473 85 — — 15,558 Other sovereign government obligations 11,653 2,109 — — 13,762 Corporate and other debt: State and municipal securities — 1 — — 1 Corporate bonds — 5,943 78 — 6,021 Lending commitments — 10 5 — 15 Other debt — 63 38 — 101 Total corporate and other debt — 6,017 121 — 6,138 Corporate equities(1) 31,340 326 45 — 31,711 Derivative and other contracts: Interest rate contracts 602 469,319 2,657 — 472,578 Credit contracts — 29,997 2,112 — 32,109 Foreign exchange contracts 21 72,233 98 — 72,352 Equity contracts(2) 416 51,405 3,751 — 55,572 Commodity contracts 4,817 15,584 1,122 — 21,523 Other — 172 — — 172 Netting(3) (4,910) (564,127) (4,220) (40,837) (614,094) Total derivative and other contracts 946 74,583 5,520 (40,837) 40,212 Total trading liabilities 59,412 83,120 5,686 (40,837) 107,381 Obligation to return securities received as collateral 25,629 56 — — 25,685 Securities sold under agreements to repurchase — 459 153 — 612 Other secured financings — 4,355 149 — 4,504 Long-term borrowings — 29,840 1,934 — 31,774 Total liabilities measured at fair value $ 85,041 $ 119,595 $ 7,922 $ (40,837) $ 171,721 _____________ (1 ) For trading purposes, the Company holds or sells short equity securities issued by entities in diverse industries and of varying size. (2) The balance of Level 3 asset derivative equity contracts increased by $ 57 million with a corresponding decrease in the balance of Level 2 asset derivative equity contracts, and the balance of Level 3 liability derivative equity contracts increased by $ 842 million with a corresponding decrease in the balance of Level 2 liability derivative equity contracts to correct the fair value level assigned to these contracts at December 31, 2014. The total amount of asset and liability derivative equity contracts remained unchanged. (3) 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 “Counterparty and Cash Collateral Netting.” For contracts with the same counterparty, counterparty netting among positions classified within the same level is included within that shared level. For further information on derivative instruments and hedging activities, see Note 4. (4) Certain investments that are measured at fair value using the NAV per share, or its equ ivalent , are not classified in the fair value hierarchy. For additional disclosure about such investments, see “Fair Value of Investments that are Measured at Net Asset Value” herein. (5) Amount represents MSRs accounted for at fair value. Changes in Lev el 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis. The following tables present additional information about Level 3 assets and liabilities measured at fair value on a recurring basis for the quarters and nine months ended September 30, 2015 and 2014 , respectively . Level 3 instruments may be hedged with instruments classified in Level 1 and Level 2. As a result, the realized and unrealized gains (losses) for assets and liabilities within the Level 3 category presented in the tables below do not reflect the related realized and unrealized gains (losses) on hedging instruments that have been classified by the Company within the Level 1 and/or Level 2 categories. Additionally, both observable and unobservable inputs may be used to determine t he fair value of positions that the Company has classified within the Level 3 category. As a result, the unrealized gains (losses) during the period for assets and liabilities within the Level 3 category presented in the tables below may include changes in fair value during the period that were attributable to both observable ( e.g. , changes in market interest rates) and unobservable ( e.g. , changes in unobservable long-dated volatilities) inputs. For assets and liabilities that were transferred into Level 3 during the period, gains (losses) are presented as if the assets or liabilities had been transferred into Level 3 at the beginning of the period; similarly, for assets and liabilities that were transferred out of Level 3 during the period, gains (losses) are presented as if the assets or liabilities had been transferred out at the beginning of the period. Three Months Ended September 30, 2015. Beginning Balance at June 30, 2015 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2015 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2015(3) (dollars in millions) Assets at Fair Value Trading assets: U.S. agency securities $ 3 $ — $ — $ — $ — $ — $ (3) $ — $ — Other sovereign government obligations 12 — 5 (4) — — (2) 11 — Corporate and other debt: State and municipal securities 7 5 12 (5) — — 14 33 5 Residential mortgage-backed securities 378 3 59 (55) — — 19 404 4 Commercial mortgage-backed securities 84 (12) 17 (6) — — (4) 79 (12) Asset-backed securities 19 — 13 (7) — — 6 31 — Corporate bonds 479 (25) 78 (228) — (50) (28) 226 (6) Collateralized debt and loan obligations 660 (7) 80 (188) — — — 545 (11) Loans and lending commitments 5,512 (78) 939 (156) — (1,229) 176 5,164 (53) Other debt 564 (22) 9 (4) — (1) (16) 530 (23) Total corporate and other debt 7,703 (136) 1,207 (649) — (1,280) 167 7,012 (96) Corporate equities 486 10 150 (80) — — 9 575 4 Net derivative and other contracts(4): Interest rate contracts (236) (137) 12 — (7) 74 383 89 (66) Credit contracts (989) 210 — — (74) 86 (38) (805) 219 Foreign exchange contracts 446 42 3 — — (327) (98) 66 45 Equity contracts (2,102) 309 16 — (50) (187) (27) (2,041) 296 Commodity contracts 1,205 238 — — — (11) — 1,432 179 Total net derivative and other contracts (1,676) 662 31 — (131) (365) 220 (1,259) 673 Investments: Principal investments 581 26 8 (50) — — (24) 541 26 Other 300 11 1 — — — — 312 11 Securities received as collateral 3 — — (2) — — — 1 — Intangible assets 6 (1) — — — — — 5 (1) Liabilities at Fair Value Short-term borrowings $ — $ (2) $ — $ — $ 4 $ — $ 63 $ 69 $ (2) Trading liabilities: Corporate and other debt: Corporate bonds 15 9 (10) 23 — — — 19 7 Other debt 4 — — — — — — 4 — Total corporate and other debt 19 9 (10) 23 — — — 23 7 Corporate equities 112 72 (50) 99 — — 8 97 73 Obligation to return securities received as collateral 3 — (2) — — — — 1 — Securities sold under agreements to repurchase 154 — — — — — — 154 — Other secured financings 168 2 — — 187 (12) — 341 2 Long-term borrowings 2,221 61 — — 237 (81) 146 2,462 64 ___________________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the condensed consolidated statements of income except for $ 37 million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the quarter ended September 30, 2015 related to assets and liabilities still outstanding at September 30, 2015 . (4 ) Net derivative and other contracts repres ent Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. Nine Months Ended September 30, 2015. Beginning Balance at December 31, 2014 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2015 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2015(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 41 $ (1) $ 7 $ (31) $ — $ — $ (5) $ 11 $ — Corporate and other debt: State and municipal securities — 5 14 (1) — — 15 33 5 Residential mortgage-backed securities 175 28 172 (57) — — 86 404 19 Commercial mortgage-backed securities 96 (17) 23 (23) — — — 79 (19) Asset-backed securities 76 (1) 22 (31) — — (35) 31 4 Corporate bonds 386 (19) 155 (218) — (53) (25) 226 (16) Collateralized debt and loan obligations 1,152 141 320 (709) — (331) (28) 545 (7) Loans and lending commitments 5,874 (34) 1,860 (95) — (2,461) 20 5,164 (62) Other debt 285 (13) 30 (14) — (25) 267 530 — Total corporate and other debt 8,044 90 2,596 (1,148) — (2,870) 300 7,012 (76) Corporate equities 272 57 437 (199) — — 8 575 67 Net derivative and other contracts(4): Interest rate contracts (173) (37) 16 — (22) 277 28 89 20 Credit contracts (743) (69) 6 — (94) 86 9 (805) (89) Foreign exchange contracts 151 133 4 — (1) (197) (24) 66 133 Equity contracts(5) (2,165) (76) 115 — (279) 252 112 (2,041) (237) Commodity contracts 1,146 345 2 — (112) 111 (60) 1,432 420 Total net derivative and other contracts (1,784) 296 143 — (508) 529 65 (1,259) 247 Investments: Principal investments 835 22 20 (109) — (187) (40) 541 — Other 323 (5) 2 (6) — — (2) 312 — Securities received as collateral — — 1 — — — — 1 — Intangible assets 6 — — — — (1) — 5 — Liabilities at Fair Value Short-term borrowings $ — $ (2) $ — $ — $ 60 $ — $ 7 $ 69 $ (2) Trading liabilities: Corporate and other debt: Corporate bonds 78 6 (25) 37 — — (65) 19 6 Lending commitments 5 5 — — — — — — 5 Other debt 38 — (1) 7 — (39) (1) 4 — Total corporate and other debt 121 11 (26) 44 — (39) (66) 23 11 Corporate equities 45 90 (88) 128 — — 102 97 90 Obligation to return securities received as collateral — — — 1 — — — 1 — Securities sold under agreements to repurchase 153 (1) — — — — — 154 — Other secured financings 149 (5) — — 223 (36) — 341 4 Long-term borrowings 1,934 159 — — 853 (213) 47 2,462 157 ___________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the Company’s condensed consolidated statements of income except for $ 17 million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the nine months ended September 30, 2015 related to assets and liabilities still outstanding at September 30, 2015 . (4 ) Net derivative and other contracts re present Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. (5 ) Net liability Level 3 derivative equity con tracts increased by $ 785 million to correct the fair value level assigned to these contracts at December 31, 2014. The total amount of derivative equity contracts remained unchanged at December 31, 2014. Three Months Ended September 30, 2014. Beginning Balance at June 30, 2014 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2014 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2014(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 14 $ (1) $ — $ (1) $ — $ — $ 1 $ 13 $ (1) Corporate and other debt: State and municipal securities 4 — — — — — (4) — — Residential mortgage-backed securities 55 11 33 (7) — (11) — 81 11 Commercial mortgage-backed securities 47 (1) 1 (3) — — 13 57 (2) Asset-backed securities 65 5 27 (8) — — 22 111 5 Corporate bonds 510 36 99 (148) — — 9 506 38 Collateralized debt obligations 1,332 8 299 (362) — (6) — 1,271 6 Loans and lending commitments 5,829 (20) 2,138 (676) — (721) 957 7,507 (24) Other debt 22 — 135 (3) — — 1 155 — Total corporate and other debt 7,864 39 2,732 (1,207) — (738) 998 9,688 34 Corporate equities 243 (2) 30 (41) — — 11 241 7 Net derivative and other contracts(4): Interest rate contracts (109) (15) 7 — (3) (17) 150 13 (22) Credit contracts (710) 209 7 — (64) (108) (16) (682) 140 Foreign exchange contracts 109 (27) 6 (3) — 70 (1) 154 (25) Equity contracts (1,097) (6) 56 — (59) (105) 23 (1,188) (9) Commodity contracts 1,132 73 36 — — (62) (12) 1,167 12 Other (3) (1) — — — 4 — — — Total net derivative and other contracts (678) 233 112 (3) (126) (218) 144 (536) 96 Investments: Principal investments 883 (1) 22 (23) — — 32 913 (1) Other 380 (3) 14 — — — 2 393 (3) Intangible assets 6 — — — — — — 6 — Liabilities at Fair Value Trading liabilities: Other sovereign government obligations $ — $ — $ — $ — $ — $ — $ 2 $ 2 $ — Corporate and other debt: Corporate bonds 14 1 (8) 46 — — (3) 48 1 Lending commitments 12 12 — — — — — — — Other debt 42 5 — — — (2) — 35 5 Total corporate and other debt 68 18 (8) 46 — (2) (3) 83 6 Corporate equities 6 (5) (12) 2 — — 2 3 (4) Securities sold under agreements to repurchase 155 2 — — — — — 153 2 Other secured financings 135 — — — 4 (3) 26 162 — Long-term borrowings 1,779 72 — — 136 (108) 186 1,921 72 ___________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the condensed consolidated statements of income except for $ (4) million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the quarter ended September 30, 2014 related to assets and liabilities still outstanding at September 30, 2014 . (4 ) N et derivative and other contracts represent Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. Nine Months Ended September 30, 2014. Beginning Balance at December 31, 2013 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2014 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2014(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 27 $ (1) $ 7 $ (21) $ — $ — $ 1 $ 13 $ (1) Corporate and other debt: Residential mortgage-backed securities 47 34 30 (9) — (20) (1) 81 29 Commercial mortgage-backed securities 108 11 22 (97) — — 13 57 (3) Asset-backed securities 103 (3) 58 (93) — — 46 111 (3) Corporate bonds 522 107 185 (302) — — (6) 506 84 Collateralized debt and loan obligations 1,468 137 716 (940) — (109) (1) 1,271 45 Loans and lending commitments 5,129 (202) 3,962 (327) — (1,299) 244 7,507 (181) Other debt 27 4 128 (6) — (2) 4 155 3 Total corporate and other debt 7,404 88 5,101 (1,774) — (1,430) 299 9,688 (26) Corporate equities 190 17 83 (47) — — (2) 241 10 Net derivative and other contracts(4): Interest rate contracts 113 (4) 8 — (3) (61) (40) 13 4 Credit contracts (147) (434) 52 — (118) 10 (45) (682) (475) Foreign exchange contracts 68 (6) 6 (1) — 106 (19) 154 (2) Equity contracts (831) (19) 223 (1) (273) (370) 83 (1,188) (66) Commodity contracts 880 177 200 — — (90) — 1,167 99 Other (4) (1) — — — 5 — — — Total net derivative and other contracts 79 (287) 489 (2) (394) (400) (21) (536) (440) Investments: Principal investments 2,160 49 36 (124) — (1,234) 26 913 129 Other 538 (13) 17 (11) — — (138) 393 (6) Intangible assets 8 — — — — (2) — 6 (1) Liabilities at Fair Value Short-term borrowings $ 1 $ — $ — $ — $ — $ (1) $ — $ — $ — Trading liabilities: Other sovereign government obligations — — — — — — 2 2 — Corporate and other debt: Corporate bonds 22 2 (46) 85 — — (11) 48 3 Lending commitments 2 2 — — — — — — — Other debt 48 15 — — — 1 1 35 5 Total corporate and other debt 72 19 (46) 85 — 1 (10) 83 8 Corporate equities 8 (6) (16) 2 — — 3 3 (6) Securities sold under agreements to repurchase 154 1 — — — — — 153 1 Other secured financings 278 (9) — — 21 (188) 42 162 (6) Long-term borrowings 1,887 17 — — 372 (289) (32) 1,921 15 __________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the Company’s condensed consolidated statements of income except for $ 36 million related to Trading assets—I nvestments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the nine months ended September 30, 2014 related to assets and liabilities still outstanding at September 30, 2014 . (4 ) Net derivative and other contracts represent Trading assets—Derivative and other contracts, net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. Quantitative Information about and Sensitivity of Significant Unobservable Inputs Used in Recurring Level 3 Fair Value Measurements. The disclosures below provide information on the valuation techniques, significant unobservable inputs , and their ranges and averages for each major category of assets and liabilities measured at fair value on a recurring 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 e venly distributed across the inventory. 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. The following disclosures also inc lude qualitative information on the sensitivity of the fair value measurements to changes in the significant unobservable inputs . At September 30, 2015 Balance at September 30, 2015 Valuations Technique(s) / Significant Unobservable Input(s) / Sensitivity of the Fair Value to Changes in the Unobservable Inputs Range(1) Averages(2) (dollars in millions) Assets at Fair Value Trading assets: Corporate and other debt: Residential mortgage-backed securities $ 404 Comparable pricing: Comparable bond price / (A) 0 to 80 points 36 points Commercial mortgage-backed securities 79 Comparable pricing: Comparable bond price / (A) 0 to 9 points 2 points Corporate bonds 226 Comparable pricing: Comparable bond price / (A) 4 to 119 points 83 points Collateralized debt and loan obligations 545 Comparable pricing(3): Comparable bond price / (A) 45 to 103 points 77 points Correlation model: Credit correlation / (B) 35% to 60% 49% Loans and lending commitments 5,164 Corporate loan model: Credit spread / (C) 72 to 831 basis points 544 basis points Margin loan model: Credit spread / (C)(D) 80 to 548 basis points 165 basis points Volatility skew / (C)(D) 14% to 70% 36% Discount rate / (C)(D) 2% to 6% 4% Option model: Volatility skew / (C) -1% -1% Comparable pricing(3): Comparable loan price / (A) 40 to 103 points 89 points Discounted cash flow Implied weighted average cost of capital / (C)(D) 6% to 8% 7% Capitalization rate / (C)(D) 4% to 10% 4% Other debt 530 Comparable pricing: Comparable loan price / (A) 3 to 84 points 65 points Comparable pricing: Comparable bond price / (A) 11 points 11 points Option model: At the money volatility / (A) 16% to 53% 16% Margin loan model(3): Discount rate / (C) 1% to 2% 1% Corporate equities 575 Comparable pricing: Comparable price / (A) 59% to 91% 78% Comparable pricing(3): Comparable equity price / (A) 100% 100% Market approach: EBITDA multiple / (A)(D) 9 times 9 times Price / Book ratio / (A)(D) 0 times 0 times Net derivative and other contracts(4): Interest rate contracts 89 Option model: Interest rate volatility concentration liquidity multiple / (C)(D) 0 to 3 times 2 times Interest rate - Foreign exchange correlation / (C)(D) 26% to 62% 44% / 43% (5) Interest rate volatility skew / (A)(D) 32% to 91% 44% / 43% (5) Interest rate quanto correlation / (A)(D) -8% to 37% 2% / -8% (5) Interest rate curve correlation / (C)(D) 24% to 93% 69% / 75% (5) Inflation volatility / (A)(D) 60% 60% / 60% (5) Interest rate - Inflation correlation / (A)(D) -43% to -41% -43% / -43% (5) Credit contracts (805) Comparable pricing: Cash synthetic basis / (C)(D) 5 to 12 points 9 points Comparable bond price / (C)(D) 0 to 75 points 25 points Correlation model(3): Credit correlation / (B) 34% to 99% 58% Foreign exchange contracts(6) 66 Option model: Interest rate - Foreign exchange correlation / (C)(D) 26% to 62% 44% / 43% (5) Interest rate volatility skew / (A)(D) 32% to 91% 44% / 43% (5) Interest rate curve / (A)(D) 0% to 1% 0% / 0% (5) Interest rate quanto correlation / (A)(D) -8% to 37% 2% / -8% (5) Equity contracts(6) (2,041) Option model: At the money volatility / (A)(D) 16% to 62% 31% Volatility skew / (A)(D) -3% to 0% -1% Equity - Equity correlation / (C)(D) 40% to 99% 72% Equity - Foreign exchange correlation / (A)(D) -50% to 10% -16% Equity - Interest rate correlation / (C)(D) -31% to 50% 14% / 7% (5) Commodity contracts 1,432 Option model: Forward power price / (C)(D) $4 to $91 per $33 per Megawatt hour Megawatt hour Commodity volatility / (A)(D) 10% to 59% 18% Cross commodity correlation / (C)(D) 43% to 100% 93% Investments: Principal investments 541 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 14% 14% Exit multiple / (A)(D) 10 times 10 times Capitalization rate / (C)(D) 5% to 10% 6% Equity discount rate / (C)(D) 18% to 35% 21% Market approach(3): EBITDA multiple / (A)(D) 9 to 19 times 11 times Forward capacity price / (A)(D) $5 to $9 $7 Comparable pricing: Comparable equity price / (A) 75% to 100% 84% Other 312 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 10% 10% Exit multiple / (A)(D) 10 times 10 times Market approach: EBITDA multiple / (A) 8 to 14 times 10 times Comparable pricing(3): Comparable equity price / (A) 100% 100% Liabilities at Fair Value Short-term borrowings $ 69 Comparable pricing: Comparable equity price / (A) 20% 20% Corporate equities 97 Comparable pricing: Comparable equity price / (A) 0% to 100% 80% Securities sold under agreements to repurchase 154 Discounted cash flow: Funding spread / (A) 96 to 123 basis points 113 basis points Other secured financings 341 Comparable pricing: Comparable bond price / (A) 100 points 100 points Discounted cash flow(3): Discount rate / (C) 4% to 17% 5% Discounted cash flow: Funding spread / (A) 108 to 130 basis points 119 basis points Long-term borrowings 2,462 Option model(3): At the money volatility / (C)(D) 22% to 40% 29% Volatility skew / (A)(D) -2% to 0% -1% Equity - Equity correlation / (A)(D) 40% to 97% 78% Equity - Foreign exchange correlation / (C)(D) -70% to 35% -42% Option model: Equity alpha / (A) 25% to 80% 63% Correlation model: Credit correlation / (B) 40% to 60% 44% Comparable pricing: Comparable equity price / (A) 100 % 100% At December 31, 2014. Valuation Technique(s) / Significant Unobservable Input(s) / Balance at Sensitivity of the Fair Value to Changes December 31, 2014 in the Unobservable Inputs Range(1) Averages(2) Assets at Fair Value (dollars in millions) Trading assets: Corporate and other debt: Residential mortgage-backed securities $ 175 Comparable pricing: Comparable bond price / (A) 3 to 90 points 15 points Commercial mortgage-backed securities 96 Comparable pricing: Comparable bond price / (A) 0 to 7 points 1 point Asset-backed securities 76 Comparable pricing: Comparable bond price / (A) 0 to 62 points 23 points Corporate bonds 386 Comparable pricing: Comparable bond price / (A) 1 to 160 points 90 points Collateralized debt and loan obligations 1,152 Comparable pricing(3): Comparable bond price / (A) 20 to 100 points 66 points Correlation model: Credit correlation / (B) 47% to 65% 56% Loans and lending commitments 5,874 Corporate loan model: Credit spread / (C) 36 to 753 basis points 373 basis points Margin loan model: Credit spread / (C)(D) 150 to 451 basis points 216 basis points Volatility skew / (C)(D) 3% to 37% 21% Discount rate / (C)(D) 2% to 3% 3% Option model: Volatility skew / (C) -1% -1% Comparable pricing(3): Comparable loan price / (A) 15 to 105 points 89 points Other debt 285 Comparable pricing(3): Comparable loan price / (A) 0 to 75 points 39 points Comparable pricing: Comparable bond price / (A) 15 points 15 points Option model: At the money volatility / (A) 15% to 54% 15% Corporate equities 272 Net asset value: Discount to net asset value / (C) 0% to 71% 36% Comparable pricing: Comparable price / (A) 83% to 96% 85% Comparable pricing(3): Comparable equity price / (A) 100% 100% Market approach: EBITDA multiple / (A)(D) 6 to 9 times 8 times Price / Book ratio / (A)(D) 0 times 0 times Net derivative and other contracts(4): Interest rate contracts (173) Option model: Interest rate volatility concentration liquidity multiple / (C)(D) 0 to 3 times 2 times Interest rate - Foreign exchange correlation / (A)(D) 28% to 62% 44% / 42%(5) Interest rate volatility skew / (A)(D) 38% to 104% 86% / 60%(5) Interest rate quanto correlation / (A)(D) -9% to 35% 6% / -6%(5) Interest rate curve correlation / (A)(D) 44% to 87% 73% / 80%(5) Inflation volatility / (A)(D) 69% to 71% 70% / 71%(5) Interest rate - Inflation correlation / (A)(D) -44% to -40% -42% / -43%(5) Credit contracts (743) Comparable pricing: Cash synthetic basis / (C)(D) 5 to 13 points 9 points Comparable bond price / (C)(D) 0 to 55 points 18 points Correlation model(3): Credit correlation / (B) 42% to 95% 63% Foreign exchange contracts(6) 151 Option model: Interest rate quanto correlation / (A)(D) -9% to 35% 6% / -6%(5) Interest rate - Credit spread correlati

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure
Derivative Instruments and Hedging Activities	4. Derivative Instruments and Hedging Activities. The Company trades and makes markets globally in listed futures, over-the-counter (“ OTC”) swaps, forwards, options and other derivatives referencing, among other things, interest rates, currencies, investment grade and non-investment grade corporate credits, loans, bonds, U.S. and other sovereign securities, emerging market bonds and loans, cr edit indices, asset-backed security indices, property indices, mortgage-related and other asset-backed securities, and real estate loan products. The Company uses these instruments for trading, foreign currency exposure management, and asset and liability management. The Company manages its trading positions by employing a variety of risk mitigation strategies. These strategies include diversification of risk exposures and hedging. Hedging activities consist of the purchase or sale of positions in related securities and financial instruments, including a variety of derivative products ( e.g. , futures, forwards, swaps and options). The Company manages the market risk associated with its trading activities on a Company-wide basis, on a worldwide trading divis ion level and on an individual product basis. Offsetting of Derivative Instruments. In connection with its derivative activities, the Company generally enters into master netting a greements and collateral a greements with its counterparties. For a furthe r discussion of these agreements, see Note 12 to the consolidated financial statements in the 2014 Form 10-K. The following tables present information about the offsetting of derivative instruments and related collateral amounts. See information related to offsetting of certain collateralized transactions in Note 6 . At September 30, 2015 Gross Amounts(1) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Amounts Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure Financial Instruments Collateral Other Cash Collateral (dollars in millions) Derivative assets Bilateral OTC $ 379,609 $ (351,265) $ 28,344 $ (9,967) $ (8) $ 18,369 Cleared OTC(3) 129,262 (127,987) 1,275 — — 1,275 Exchange traded 31,948 (28,273) 3,675 — — 3,675 Total derivative assets $ 540,819 $ (507,525) $ 33,294 $ (9,967) $ (8) $ 23,319 Derivative liabilities Bilateral OTC $ 361,467 $ (332,549) $ 28,918 $ (6,967) $ — $ 21,951 Cleared OTC(3) 128,153 (127,267) 886 — (2) 884 Exchange traded 34,242 (28,273) 5,969 (735) — 5,234 Total derivative liabilities $ 523,862 $ (488,089) $ 35,773 $ (7,702) $ (2) $ 28,069 At December 31, 2014 Gross Amounts(4) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Amounts Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure Financial Instruments Collateral Other Cash Collateral (dollars in millions) Derivative assets Bilateral OTC $ 427,079 $ (396,582) $ 30,497 $ (9,844) $ (19) $ 20,634 Cleared OTC(3) 217,169 (215,576) 1,593 — — 1,593 Exchange traded 32,123 (27,819) 4,304 — — 4,304 Total derivative assets $ 676,371 $ (639,977) $ 36,394 $ (9,844) $ (19) $ 26,531 Derivative liabilities Bilateral OTC $ 410,003 $ (375,095) $ 34,908 $ (11,192) $ (179) $ 23,537 Cleared OTC(3) 211,695 (211,180) 515 — (6) 509 Exchange traded 32,608 (27,819) 4,789 (726) — 4,063 Total derivative liabilities $ 654,306 $ (614,094) $ 40,212 $ (11,918) $ (185) $ 28,109 (1) Amounts include $ 6.2 billion of derivative assets and $ 6.9 billion of derivative liabilities, which are either not subject to master netting agreements or collateral agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. See also “Fair Value and Notional of Derivative Instruments” herein, for additional disclosure about gross fair values and notionals for derivative instruments by risk type. (2) Amounts relate to master netting a greements and collateral a greements, which have been determined by the Company to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetti ng accounting guidance. (3) Amounts include OTC derivatives that are centrally cleared in accordance with certain regulatory requirements. (4) Amounts include $ 6.5 billion of derivative assets and $ 6.9 billion of derivative liabilities, which are either no t subject to master netting agreements or collateral agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. See also “ Fair Value and Notional of Derivative Instruments ” herein, for addition al disclosure about gross fair values and notionals for derivative instruments by risk type. The Company incurs credit risk as a dealer in OTC derivatives. Credit risk with respect to derivative instruments arises from the failure of a counterparty to pe rform according to the terms of the contract. The Company’s exposure to credit risk at any point in time is represented by the fair value of the derivative contracts reported as assets. The fair value of a derivative represents the amount at which the deri vative could be exchanged in an orderly transaction between market participants and is further described in Note 2 to the consolidated financial statements in the 2014 Form 10-K and Note 3. OTC Derivative Products—Trading Assets . The tables below pres ent a summary by counterparty credit rating and remaining contract maturity of the fair value of OTC derivatives in a gain position at September 30, 2015 and December 31, 2014 . Fair value is presented in the final column, net of collateral received (pr incipally cash and U.S. government and agency securities): At September 30, 2015(1) Years to Maturity Cross-Maturity and Cash Collateral Netting(3) Net Exposure Post-cash Collateral Net Exposure Post-collateral Credit Rating(2) Less than 1 1 - 3 3 - 5 Over 5 (dollars in millions) AAA $ 260 $ 289 $ 895 $ 4,174 $ (4,514) $ 1,104 $ 924 AA 2,599 2,493 1,848 11,978 (13,432) 5,486 2,887 A 10,807 9,428 5,885 22,520 (38,543) 10,097 6,606 BBB 4,202 4,711 2,414 12,306 (15,682) 7,951 5,654 Non-investment grade 4,502 3,339 1,521 3,755 (8,144) 4,973 3,573 Total $ 22,370 $ 20,260 $ 12,563 $ 54,733 $ (80,315) $ 29,611 $ 19,644 At December 31, 2014(1) Years to Maturity Cross-Maturity and Cash Collateral Netting(3) Net Exposure Post-cash Collateral Net Exposure Post-collateral Credit Rating(2) Less than 1 1-3 3-5 Over 5 (dollars in millions) AAA $ 499 $ 246 $ 1,313 $ 4,281 $ (5,009) $ 1,330 $ 1,035 AA 2,679 2,811 2,704 14,137 (15,415) 6,916 4,719 A 11,733 10,833 7,585 23,968 (43,644) 10,475 6,520 BBB 5,119 3,753 2,592 13,132 (15,844) 8,752 6,035 Non-investment grade 3,196 3,089 1,541 2,499 (5,727) 4,598 3,918 Total $ 23,226 $ 20,732 $ 15,735 $ 58,017 $ (85,639) $ 32,071 $ 22,227 _____________ (1) Fair values shown represent the Company’s net exposure to counterparties related to the Company’s OTC derivative products. Amounts include centrally cleared OTC derivatives. The tables do not include exchange-traded derivatives and the effect of any related hedges utilized by the Company. (2) Obligor credit ratings are determined by the Company’s Credit Risk Management Department. (3) Amounts represent the netting of receivable balances with payable balances for th e same counterparty across maturity categories. Receivable and payable balances with the same counterparty in the same maturity category are netted within such maturity category, where appropriate. Cash collateral received is netted on a counterparty basis , provided legal right of offset exists. For a discussion of hedge accounting, fair value hedges—interest rate risk and net investment hedges, see Note 12 to the consolidated financial statements in the 2014 Form 10-K. Fair Value and Notional of Derivat ive Instruments. The following tables summarize the fair value of derivative instruments designated as accounting hedges and the fair value of derivative instruments not designated as accounting hedges by type of derivative contract and the platform on w hich these instruments are traded or cleared on a gross basis. Fair values of derivative contracts in an asset position are included in Trading assets, and fair values of derivative contracts in a liability position are reflected in Trading liabilities in the Company’s condensed consolidated statements of financial condition (see Note 3): Derivative Assets at September 30, 2015 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 3,565 $ 1,828 $ — $ 5,393 $ 38,389 $ 43,193 $ — $ 81,582 Foreign exchange contracts 210 5 — 215 6,533 438 — 6,971 Total derivatives designated as accounting hedges 3,775 1,833 — 5,608 44,922 43,631 — 88,553 Derivatives not designated as accounting hedges(2): Interest rate contracts 242,212 123,482 436 366,130 4,570,771 6,416,792 1,231,155 12,218,718 Credit contracts 21,246 3,535 — 24,781 684,536 171,985 — 856,521 Foreign exchange contracts 70,521 412 102 71,035 1,964,784 13,908 42,417 2,021,109 Equity contracts 25,261 — 26,399 51,660 356,509 — 294,745 651,254 Commodity contracts 16,230 — 5,011 21,241 87,566 — 103,188 190,754 Other 364 — — 364 7,568 — — 7,568 Total derivatives not designated as accounting hedges 375,834 127,429 31,948 535,211 7,671,734 6,602,685 1,671,505 15,945,924 Total derivatives $ 379,609 $ 129,262 $ 31,948 $ 540,819 $ 7,716,656 $ 6,646,316 $ 1,671,505 $ 16,034,477 Cash collateral netting (54,391) (2,480) — (56,871) — — — — Counterparty netting (296,874) (125,507) (28,273) (450,654) — — — — Total derivative assets $ 28,344 $ 1,275 $ 3,675 $ 33,294 $ 7,716,656 $ 6,646,316 $ 1,671,505 $ 16,034,477 Derivative Liabilities at September 30, 2015 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 61 $ 98 $ — $ 159 $ 2,000 $ 4,519 $ — $ 6,519 Foreign exchange contracts 37 2 — 39 4,155 153 — 4,308 Total derivatives designated as . accounting hedges 98 100 — 198 6,155 4,672 — 10,827 Derivatives not designated as accounting hedges(2): Interest rate contracts 224,805 124,372 321 349,498 4,259,745 6,013,571 1,189,701 11,463,017 Credit contracts 21,224 3,418 — 24,642 617,011 165,496 — 782,507 Foreign exchange contracts 72,572 263 60 72,895 1,968,292 12,137 9,274 1,989,703 Equity contracts 28,858 — 28,553 57,411 351,276 — 293,615 644,891 Commodity contracts 13,859 — 5,308 19,167 79,641 — 89,147 168,788 Other 51 — — 51 4,170 — — 4,170 Total derivatives not designated as accounting hedges 361,369 128,053 34,242 523,664 7,280,135 6,191,204 1,581,737 15,053,076 Total derivatives $ 361,467 $ 128,153 $ 34,242 $ 523,862 $ 7,286,290 $ 6,195,876 $ 1,581,737 $ 15,063,903 Cash collateral netting (35,675) (1,760) — (37,435) — — — — Counterparty netting (296,874) (125,507) (28,273) (450,654) — — — — Total derivative liabilities $ 28,918 $ 886 $ 5,969 $ 35,773 $ 7,286,290 $ 6,195,876 $ 1,581,737 $ 15,063,903 Derivative Assets at December 31, 2014 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 3,947 $ 1,053 $ — $ 5,000 $ 44,324 $ 27,692 $ — $ 72,016 Foreign exchange contracts 498 6 — 504 9,362 261 — 9,623 Total derivatives designated as accounting hedges 4,445 1,059 — 5,504 53,686 27,953 — 81,639 Derivatives not designated as accounting hedges(3): Interest rate contracts 281,214 211,552 407 493,173 4,854,953 9,187,454 1,467,056 15,509,463 Credit contracts 27,776 4,406 — 32,182 806,441 167,390 — 973,831 Foreign exchange contracts 72,362 152 83 72,597 1,955,343 11,538 9,663 1,976,544 Equity contracts 23,208 — 24,916 48,124 299,363 — 271,164 570,527 Commodity contracts 17,698 — 6,717 24,415 115,792 — 156,440 272,232 Other 376 — — 376 5,179 — — 5,179 Total derivatives not designated as accounting hedges 422,634 216,110 32,123 670,867 8,037,071 9,366,382 1,904,323 19,307,776 Total derivatives $ 427,079 $ 217,169 $ 32,123 $ 676,371 $ 8,090,757 $ 9,394,335 $ 1,904,323 $ 19,389,415 Cash collateral netting (58,541) (4,654) — (63,195) — — — — Counterparty netting (338,041) (210,922) (27,819) (576,782) — — — — Total derivative assets $ 30,497 $ 1,593 $ 4,304 $ 36,394 $ 8,090,757 $ 9,394,335 $ 1,904,323 $ 19,389,415 Derivative Liabilities at December 31, 2014 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 125 $ 99 $ — $ 224 $ 2,024 $ 7,588 $ — $ 9,612 Foreign exchange contracts 5 1 — 6 1,491 121 — 1,612 Total derivatives designated as accounting hedges 130 100 — 230 3,515 7,709 — 11,224 Derivatives not designated as accounting hedges(3): Interest rate contracts 264,579 207,482 293 472,354 4,615,886 9,138,417 1,714,021 15,468,324 Credit contracts 28,165 3,944 — 32,109 714,181 154,054 — 868,235 Foreign exchange contracts 72,156 169 21 72,346 1,947,178 11,477 1,761 1,960,416 Equity contracts 30,061 — 25,511 55,572 339,884 — 302,205 642,089 Commodity contracts 14,740 — 6,783 21,523 93,019 — 132,136 225,155 Other 172 — — 172 5,478 — — 5,478 Total derivatives not designated as accounting hedges 409,873 211,595 32,608 654,076 7,715,626 9,303,948 2,150,123 19,169,697 Total derivatives $ 410,003 $ 211,695 $ 32,608 $ 654,306 $ 7,719,141 $ 9,311,657 $ 2,150,123 $ 19,180,921 Cash collateral netting (37,054) (258) — (37,312) — — — — Counterparty netting (338,041) (210,922) (27,819) (576,782) — — — — Total derivative liabilities $ 34,908 $ 515 $ 4,789 $ 40,212 $ 7,719,141 $ 9,311,657 $ 2,150,123 $ 19,180,921 _____________ (1) Amounts include OTC derivatives that are centrally cleared in accordance with certain regulatory requirements. (2) Notional amounts include gross notionals related to open long and short futures contracts of $ 886 billion and $ 950 billion, respectively. The unsettled fair value on these futures contracts (excluded from the table above) of $ 432 million and $ 9 million is included in Customer and other receivables an d Customer and other payables, respectively, in the Company’s condensed consolidated statements of financial condition. (3) Notional amounts include gross notionals related to open long and short futures contracts of $ 685 billion and $ 1,122 billion, respe ctively. The unsettled fair value on these futures contracts (excluded from the table above) of $ 472 million and $ 21 million is included in Customer and other receivables and Customer and other payables, respectively, in the Company’s condensed consolidate d statements of financial condition. A t September 30, 2015 , c ash collateral payables of $ 3 million and at December 31, 2014 , cash collateral receivables and payables of $ 21 million and $ 30 million , respectively, were not offset against certain contracts that did not meet the definition of a derivative. The Company had no cash collateral receivable at September 30, 2015 that was not offset against certain contracts that did not meet the definition of a derivative. Derivatives D esignated as Fair Value Hedges. The following table presents gains (losses) reported on interest rate derivative instruments designated and qualifying as accounting hedges and the related hedged item as well as the hedge ineffectiveness included in Inter est expense in the Company’s condensed consolidated statements of income: Gains (Losses) Recognized in Interest Expense Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Derivatives $ 1,531 $ (384) $ 390 $ 547 Borrowings (1,334) 757 386 429 Total $ 197 $ 373 $ 776 $ 976 Derivatives Designated as Net Investment Hedges . The following table presents gains (losses) reported on derivative instruments designated and qualifying as accounting hedges: Gains (Losses) Recognized in OCI (effective portion) Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Foreign exchange contracts(1) $ 210 $ 438 $ 391 $ 262 Total $ 210 $ 438 $ 391 $ 262 ____________ (1) Losses of $ 37 million and $ 117 million related to the forward points on the hedging instruments were excluded from hedge effectiveness testing and recognized in interest income during the quarter and nine months ended September 30, 2015 , respectively. Losses of $ 46 million and $ 143 million related to the forward points on the hedging instruments were excluded from hedge effectiveness testing and recognized in interest income during the quarter and nine months ended September 30, 2014 , respectively. Derivatives Not Designated as Accounting Hedges. The following table summarizes gains (losses) on derivative instruments not designated as accounting hedges: Gains (Losses) Recognized in Income(1) Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Interest rate contracts $ 103 $ (37) $ 579 $ (1,847) Credit contracts 99 407 (110) 258 Foreign exchange contracts 3,570 191 (1,224) 1,795 Equity contracts 3,678 114 1,658 (2,212) Commodity contracts 787 60 1,435 531 Other contracts 35 22 (30) 133 Total derivative instruments $ 8,272 $ 757 $ 2,308 $ (1,342) ____________ (1) Gains (losses) on derivative contracts not designated as hedges are primarily included in Trading revenues in the Company’s condensed consolidated statements of income. Gains (losses) associated with certain derivative contracts that have physically settled are excluded from the table above. Gains (losses) on these contracts are reflected with the associated cash instruments, which are also included in Trading revenues in the Company’s condensed consolidated statements of income. The Company also has certain embedded derivatives that have been bifurcated from the related structured borrowings. Such derivatives are classified in Long-term borrowings and had a net fair value of $ 19 million and $ 10 million at September 30, 2015 and December 31, 2014 , respectively, and a notional value of $ 2,069 million at both September 30, 2015 and December 31, 2014 . The Company recognized a loss of $ 6 million and a gain of $ 10 million related to changes in the fair va lue of its bifurcated embedded derivatives for the quarter and nine months ended September 30, 2015 , respectively. The Company recognized a gain of $ 5 million and a loss of $ 23 million related to changes in the fair value of its bifurcated embedded derivativ es for the quarter and nine months ended September 30, 2014 , respectively. Credit Risk-Related Contingencies. In connection with certain OTC trading agreements, the Company may be required to provide additional collateral or immediately settle any outstan ding liability balances with certain counterparties in the event of a credit rating downgrade of the Company. The following table presents the aggregate fair value of certain derivative contracts that contain credit risk-related contingent features that ar e in a net liability position for which the Company has posted collateral in the normal course of business. At September 30, 2015 (dollars in millions) Net derivative liabilities $ 26,700 Collateral posted 22,247 The additional collateral or termination payments which 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. (“ Moody’s”) and Standard & Poor’s Ratings Services (“ S&P”) . At September 30, 2015 , for such OTC trading agreements, 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 on e-notch or two-notch downgrade scenarios based on the relevant contractual downgrade triggers were as follows: At September 30, 2015 (dollars in millions) Incremental collateral or termination payments upon potential future ratings downgrade(1): One-notch downgrade $ 1,111 Two-notch downgrade 1,251 ________ (1) Amounts include $ 1,879 million related to bilateral arrangements between the Company 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 a risk management tool used extensively by the Company as credit exposures are reduced if counterparties are downgraded. Credit Derivatives and Other Credit Contracts. The Company enters into credit derivatives, pri ncipally through credit default swaps, 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 Company’s counterparties are banks, broker- dealers, insurance and other financial institutions, and monoline insurers. The tables below summarize the notional and fair value of protection sold and protection purchased through credit default swaps: At September 30, 2015 Maximum Potential Payout/Notional Protection Sold Protection Purchased Notional Fair Value (Asset)/Liability Notional Fair Value (Asset)/Liability (dollars in millions) Single name credit default swaps $ 458,768 $ 1,241 $ 439,328 $ (593) Index and basket credit default swaps 264,416 (148) 231,528 (68) Tranched index and basket credit default swaps 74,353 (1,394) 170,635 823 Total $ 797,537 $ (301) $ 841,491 $ 162 At December 31, 2014 Maximum Potential Payout/Notional Protection Sold Protection Purchased Notional Fair Value (Asset)/Liability Notional Fair Value (Asset)/Liability (dollars in millions) Single name credit default swaps $ 535,415 $ (2,479) $ 509,872 $ 1,641 Index and basket credit default swaps 276,465 (1,777) 229,789 1,563 Tranched index and basket credit default swaps 96,182 (2,355) 194,343 3,334 Total $ 908,062 $ (6,611) $ 934,004 $ 6,538 The tables below summarize the credit ratings of the reference obligation and maturities of protection sold through credit default swaps and other credit contracts : At September 30, 2015 Maximum Potential Payout/Notional Fair Value (Asset)/ Liability(1)(2) Years to Maturity Credit Ratings of the Reference Obligation Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Single name credit default swaps: AAA $ 4,247 $ 13,475 $ 5,252 $ 1,587 $ 24,561 $ (253) AA 9,247 18,450 10,605 2,689 40,991 (433) A 18,861 36,875 11,145 1,825 68,706 (803) BBB 43,071 92,864 41,808 11,883 189,626 (325) Non-investment grade 35,030 66,058 28,914 4,882 134,884 3,055 Total 110,456 227,722 97,724 22,866 458,768 1,241 Index and basket credit default swaps: AAA 14,890 41,296 1,663 — 57,849 (1,006) A 4,700 4,668 6,271 12 15,651 (197) BBB 9,904 27,045 49,952 34,893 121,794 (818) Non-investment grade 24,331 82,978 16,048 20,118 143,475 479 Total 53,825 155,987 73,934 55,023 338,769 (1,542) Total credit default swaps sold $ 164,281 $ 383,709 $ 171,658 $ 77,889 $ 797,537 $ (301) Other credit contracts(3) $ 1 $ 806 $ 340 $ 49 $ 1,196 $ (1,042) Total credit derivatives and other credit contracts $ 164,282 $ 384,515 $ 171,998 $ 77,938 $ 798,733 $ (1,343) At December 31, 2014 Maximum Potential Payout/Notional Fair Value (Asset)/ Liability(1)(2) Years to Maturity Credit Ratings of the Reference Obligation Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Single name credit default swaps: AAA $ 2,385 $ 9,400 $ 6,147 $ 692 $ 18,624 $ (113) AA 9,080 23,701 14,769 3,318 50,868 (688) A 22,861 52,291 22,083 2,944 100,179 (1,962) BBB 48,547 114,384 60,629 13,536 237,096 (1,489) Non-investment grade 29,857 66,066 29,011 3,714 128,648 1,773 Total 112,730 265,842 132,639 24,204 535,415 (2,479) Index and basket credit default swaps: AAA 17,625 31,124 7,265 1,883 57,897 (985) AA 704 6,512 716 2,864 10,796 (270) A 1,283 6,841 10,154 30 18,308 (465) BBB 30,265 40,575 60,141 7,730 138,711 (2,904) Non-investment grade 25,750 88,105 22,971 10,109 146,935 492 Total 75,627 173,157 101,247 22,616 372,647 (4,132) Total credit default swaps sold $ 188,357 $ 438,999 $ 233,886 $ 46,820 $ 908,062 $ (6,611) Other credit contracts(3) $ 51 $ 539 $ 1 $ 620 $ 1,211 $ (500) Total credit derivatives and other credit contracts $ 188,408 $ 439,538 $ 233,887 $ 47,440 $ 909,273 $ (7,111) _____________ (1) Fair value amounts are shown on a gross basis prior to cash collateral or counterparty netting. (2) Fair value amounts of certain credit default swaps where the Company sold protection have an asset carrying value because credit spreads of the underlying reference entity or entities tightened during the term of the contracts. (3) Other credit contracts include credit-linked notes (“CLNs”), collateralized debt obligations (“CDOs”) and credit default swaps that are considered hybrid instruments. Fair value amount s shown represent the fair value of the hybrid instruments. Single Name Credit Default Swaps. A credit default swap protects the buyer against the loss of principal on a bond or loan in case of a default by the issuer. The protection buyer pays a periodic premium (generally quarterly) over the life of the contract and is protected for the per iod. The Company in turn will have to perform under a credit default swap if a credit event as defined under the contract occurs. Typical credit events include bankruptcy, dissolution or insolvency of the referenced entity, failure to pay and restructuring of the obligations of the referenced entity. In order to provide an indication of the current payment status or performance risk of the credit default swaps, a breakdown by credit ratings is provided. Agency ratings, if available, are used for this purpos e; otherwise the Company’s internal ratings are used . Index and Basket Credit Default Swaps. Index and basket credit default swaps are products where credit protection is provided on a portfolio of single name credit default swaps. Generally, in the event of a default on one of the underlying names, the Company will have to pay a pro rata portion of the total notional amount of the credit default swap. The Company also enters into tranched index and basket credit default swaps where credit protecti on is provided on a particular portion of the portfolio loss distribution. The most junior tranches cover initial defaults, and once losses exceed the notional of the tranche, they are passed on to the next most senior tranche in the capital structure. I n order to provide an indication of the current payment status or performance risk of the credit default swaps, a breakdown by the Company’s internal credit ratings is provided. Effective January 1, 2015, the Company utilized its internal credit ratings as compared with December 31, 2014 where external agency ratings, if available, were utilized. The change in the rating methodology did not have a significant impact on investment grade versus non-investment grade classifications or the fair values of tranch ed and non-tranched index and basket products in the above table. Credit Protection Sold through CLNs and CDOs. The Company has invested in CLNs and CDOs, which are hybrid instruments containing embedded derivatives, in which credit protection has been sold to the issuer of the note. If there is a credit event of a reference entity underlying the instrument, the principal balance of the note may not be repaid in full to the Company. Purchased Credit Protection with Identical Underlying Reference Obligations. For single name credit default swaps and non-tranched index and basket credit default swaps, the Company has purchased protection with a not ional amount of approximately $ 668 billion and $ 731 billion at September 30, 2015 and December 31, 2014 , respectively, compared with a not ional amount of approximately $ 721 billion and $ 805 billion at September 30, 2015 and December 31, 2014 , respectively, of credit protection sold with identical un derlying refe rence obligations. In order to identify purchased protection with the same underlying reference obligations, the notional amount for individual reference obligations within non-tranched indices and baskets was determined on a pro rata basis and matched off against single name and non-tranched index and basket credit default swaps where credit protection was sold with identical underlying reference obligations. The purchase of credit protection does not represent the sole manner in which the Company risk m anages its exposure to credit derivatives. The Company manages its exposure to these derivative contracts through a variety of risk mitigation strategies, which include managing the credit and correlation risk across single name, non-tranched indices and b askets, tranched indices and baskets, and cash positions. Aggregate market risk limits have been established for credit derivatives, and market risk measures are routinely monitored against these limits. The Company may also recover amounts on the underlyi ng reference obligation delivered to the Company under credit default swaps where credit protection was sold.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2015
Investment securities:
Investment Securities	5. Investment Securities. The following tables present information about the Company’s AFS securities, which are carried at fair value, and HTM securities, which are carried at amortized cost. The net unrealized gains or losses on AFS securities are reported on an after-tax basis as a component of Accumulated other comprehensive income (loss) (“AOCI”). At September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Other-than-Temporary Impairment Fair Value (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 24,718 $ 119 $ 3 $ — $ 24,834 U.S. agency securities(1) 21,000 90 68 — 21,022 Total U.S. government and agency securities 45,718 209 71 — 45,856 Corporate and other debt: Commercial mortgage-backed securities: Agency 1,996 4 44 — 1,956 Non-agency 2,174 16 12 — 2,178 Auto loan asset-backed securities 2,679 3 1 — 2,681 Corporate bonds 3,866 14 17 — 3,863 Collateralized loan obligations 912 — 13 — 899 FFELP student loan asset-backed securities(2) 3,807 — 93 — 3,714 Total corporate and other debt 15,434 37 180 — 15,291 Total AFS debt securities 61,152 246 251 — 61,147 AFS equity securities 15 — 3 — 12 Total AFS securities 61,167 246 254 — 61,159 HTM securities: U.S. government securities: U.S. Treasury securities 1,002 5 — — 1,007 U.S. agency securities(1) 2,528 1 8 — 2,521 Total HTM securities 3,530 6 8 — 3,528 Total Investment securities $ 64,697 $ 252 $ 262 $ — $ 64,687 At December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Other-than-Temporary Impairment Fair Value (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 35,855 $ 42 $ 67 $ — $ 35,830 U.S. agency securities(1) 18,030 77 72 — 18,035 Total U.S. government and agency securities 53,885 119 139 — 53,865 Corporate and other debt: Commercial mortgage-backed securities: Agency 2,288 1 76 — 2,213 Non-agency 1,820 11 6 — 1,825 Auto loan asset-backed securities 2,433 — 5 — 2,428 Corporate bonds 3,640 10 22 — 3,628 Collateralized loan obligations 1,087 — 20 — 1,067 FFELP student loan asset-backed securities(2) 4,169 18 8 — 4,179 Total corporate and other debt 15,437 40 137 — 15,340 Total AFS debt securities 69,322 159 276 — 69,205 AFS equity securities 15 — 4 — 11 Total AFS securities 69,337 159 280 — 69,216 HTM securities: U.S. government securities: U.S. Treasury securities 100 — — — 100 Total HTM securities 100 — — — 100 Total Investment securities $ 69,437 $ 159 $ 280 $ — $ 69,316 ______________ U.S. agency securities are compo sed of three main categories consisting of agency-issued debt, agency mortgage pass-through pool securities and collateralized mortgage obligations . FFELP—Federal Family Education Loan Program. Amounts are backed by a guarantee from the U.S. Department of Education of at least 95 % of the principal balance and interest on such loans. The following tables present the fair value of Investment securities that are in an unrealized loss position: At September 30, 2015 Less than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 1,926 $ 3 $ — $ — $ 1,926 $ 3 U.S. agency securities 8,137 31 1,943 37 10,080 68 Total U.S. government and agency securities 10,063 34 1,943 37 12,006 71 Corporate and other debt: Commercial mortgage-backed securities: Agency 43 — 1,250 44 1,293 44 Non-agency 634 6 475 6 1,109 12 Auto loan asset-backed securities 782 — 309 1 1,091 1 Corporate bonds 1,196 8 469 9 1,665 17 Collateralized loan obligations — — 900 13 900 13 FFELP student loan asset-backed securities 2,767 62 877 31 3,644 93 Total corporate and other debt 5,422 76 4,280 104 9,702 180 Total AFS debt securities 15,485 110 6,223 141 21,708 251 AFS equity securities 12 3 — — 12 3 Total AFS securities 15,497 113 6,223 141 21,720 254 HTM securities: U.S. government and agency securities: U.S. agency securities 1,921 8 — — 1,921 8 Total HTM securities 1,921 8 — — 1,921 8 Total Investment securities $ 17,418 $ 121 $ 6,223 $ 141 $ 23,641 $ 262 At December 31, 2014 Less than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 11,410 $ 14 $ 5,924 $ 53 $ 17,334 $ 67 U.S. agency securities 2,739 6 4,133 66 6,872 72 Total U.S. government and agency securities 14,149 20 10,057 119 24,206 139 Corporate and other debt: Commercial mortgage-backed securities: Agency 42 — 1,822 76 1,864 76 Non-agency 706 3 346 3 1,052 6 Auto loan asset-backed securities 2,034 5 — — 2,034 5 Corporate bonds 905 6 1,299 16 2,204 22 Collateralized loan obligations — — 1,067 20 1,067 20 FFELP student loan asset-backed securities 1,523 6 393 2 1,916 8 Total corporate and other debt 5,210 20 4,927 117 10,137 137 Total AFS debt securities 19,359 40 14,984 236 34,343 276 AFS equity securities 11 4 — — 11 4 Total Investment securities $ 19,370 $ 44 $ 14,984 $ 236 $ 34,354 $ 280 As discussed in Note 2 to the Company’s consolidated financial statements in the 2014 Form 10-K, AFS and HTM securities with a current fair value less than their amortized cost are analyzed as part of the Company’s ongoing assessment of temporary versus other-than-temporarily impaired at the individual security level. The net unrealized losses on AFS debt securities report ed in the table above are primarily due to higher interest rates since those securities were purchased . T he risk of credit loss on securities in an unrealized loss position is considered minimal because all of the Company’s agency securities as well as t he Company’s asset-backed securities , commercial mortgage-backed s ecurities (“CMBS”) and collateralized loan obligations (“CLOs”) are highly rated and because the Company’s corporate bonds are all investment grade. The Company does not intend to sell and i s not likely to be required to sell its AFS debt securities prior to recovery of its amortized cost basis. The Company does not expect to experience a credit loss on its AFS debt securities or HTM securities based on consideration of the relevant informati on (as discussed in Note 2 to the Company’s consolidated financial statements in the 2014 Form 10-K), including for U.S. government and agency securities, the existence of an explicit and implicit guarantee provided by the U.S. government. The Compan y believes that its AFS debt securities in an unrealized loss position were not other-than-temporarily impaired at September 30, 2015 and December 31, 2014. For AFS equity securities in an unrealized loss position, the Company does not intend to sell t hese securities or expect to be required to sell these securities prior to the recovery of the cost basis and the Company believes that these securities were not other-than-temporarily impaired at September 30, 2015 and December 31, 2014. The following table presents the amortized cost, fair value and annualized average yield of Investment securities by contractual maturity dates at September 30, 2015 : At September 30, 2015 Amortized Cost Fair Value Annualized Average Yield (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities: After 1 year through 5 years $ 24,570 $ 24,683 1.1% After 5 years through 10 years 148 151 2.1% Total 24,718 24,834 U.S. agency securities: After 1 year through 5 years 2,436 2,437 0.7% After 5 years through 10 years 2,087 2,103 1.6% After 10 years 16,477 16,482 1.8% Total 21,000 21,022 Total U.S. government and agency securities 45,718 45,856 1.3% Corporate and other debt: Commercial mortgage-backed securities: Agency: Due within 1 year 2 2 0.5% After 1 year through 5 years 673 675 0.9% After 5 years through 10 years 218 217 1.5% After 10 years 1,103 1,062 1.5% Total 1,996 1,956 Non-agency: After 10 years 2,174 2,178 1.8% Total 2,174 2,178 Auto loan asset-backed securities: Due within 1 year 11 11 0.7% After 1 year through 5 years 2,315 2,316 1.1% After 5 years through 10 years 353 354 1.5% Total 2,679 2,681 Corporate bonds: Due within 1 year 458 459 1.0% After 1 year through 5 years 2,694 2,688 1.6% After 5 years through 10 years 714 716 2.7% Total 3,866 3,863 Collateralized loan obligations: After 5 years through 10 years 912 899 1.4% Total 912 899 FFELP student loan asset-backed securities: After 1 year through 5 years 87 87 0.7% After 5 years through 10 years 697 687 0.9% After 10 years 3,023 2,940 0.9% Total 3,807 3,714 Total corporate and other debt 15,434 15,291 1.6% Total AFS debt securities 61,152 61,147 1.3% AFS equity securities 15 12 ― % Total AFS securities 61,167 61,159 1.3% HTM securities: U.S. government securities: U.S. Treasury securities: After 1 year through 5 years 1,002 1,007 1.0% Total 1,002 1,007 U.S. agency securities: After 10 years 2,528 2,521 2.4% Total 2,528 2,521 Total HTM securities 3,530 3,528 2.0% Total Investment securities $ 64,697 $ 64,687 1.4% See Note 12 for additional information on securities issued by VIEs, including U.S. agency mortgage-backed securities, non-agency CMBS , auto loan asset-backed securities, CLO and FFELP student loan asset-backed securities. The following table presents information pertaining to gross realized gains and losses on sales of AFS securities within the Company’s Investment securities portfolio during the quarters and nine months ended September 30, 2015 and 2014: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (dollars in millions) Gross realized gains $ 22 $ 20 $ 91 $ 37 Gross realized (losses) (4) — (17) (1) Total $ 18 $ 20 $ 74 $ 36 Gross realized gains and losses are recognized in Other revenues in the Company’s condensed consolidated statements of income.

Collateralized Transactions

Collateralized Transactions	9 Months Ended
	Sep. 30, 2015
Collateralized Transactions
Collateralized Transactions	6. Collateralized Transactions. The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions to, among other things, acquire securities to cover short positions and settle other securities obligations, to accommodate customers’ needs and to finance the Company’s inventory positions. The Company manages credit exposure arising from such transactions by, in appropriate circumstances, entering into master netting agree ments and collateral agreements with counterparties that provide the Company, in the event of a counterparty default (such as bankruptcy or a counterparty’s failure to pay or perform), with the right to net a counterparty’s rights and obligations under suc h agreement and liquidate and set off collateral held by the Company against the net amount owed by the counterparty. The Company’s policy is generally to take possession of securities purchased under agreements to resell and securities borrowed, and to receive securities and cash posted as collateral (with rights of rehypothecation ) . I n certain cases, the Company may agree for such collateral to be posted to a third-party custodian under a tri-party arrangement that enables the Company to take control of such collateral in the event of a counterparty default. The Company also monitors the fair value of the underlying securities as compared with the related receivable or payable, including accrued interest, and, as necessary, requests additional collateral as provided under the applicable agreement to ensure such transactions are adequately collateralized. The risk related to a decline in the market value of collateral (pledged or received) is managed by setting appropriate market-based haircuts. Increases in collateral margin calls on secured financing due to market value declines may be mitigated by increases in collateral margin calls on reverse repurchase agreements and securities borrowed transactions with similar quality collateral. Additionally, the C ompany may request lower quality collateral pledged be replaced with higher quality collateral through collateral substitution rights in the underlying agreements. The Company actively manages its secured financing in a manner that reduces the potential refinancing risk of secured financing for less liquid assets. The Company considers the quality of collateral when negotiating collateral eligibility with counterparties, as defined by the Company’s fundability criteria. The Company utilizes shorter-term secured finan cing for highly liquid assets and has established longer tenor limits for less liquid assets, for which funding may be at risk in the event of a market disruption. Offsetting of Certain Collateralized Transactions. The following tables present informati on about the offsetting of these instruments and related collateral amounts. For information related to offsetting of derivatives , see Note 4. At September 30, 2015 Gross Amounts(1) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Financial Instruments Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure (dollars in millions) Assets Securities purchased under agreements to resell $ 185,825 $ (58,619) $ 127,206 $ (122,156) $ 5,050 Securities borrowed 157,456 (9,211) 148,245 (141,809) 6,436 Liabilities Securities sold under agreements to repurchase $ 117,189 $ (58,619) $ 58,570 $ (48,777) $ 9,793 Securities loaned 29,855 (9,211) 20,644 (20,183) 461 At December 31, 2014 Gross Amounts(3) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Financial Instruments Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure (dollars in millions) Assets Securities purchased under agreements to resell $ 148,234 $ (64,946) $ 83,288 $ (79,343) $ 3,945 Securities borrowed 145,556 (8,848) 136,708 (128,282) 8,426 Liabilities Securities sold under agreements to repurchase $ 134,895 $ (64,946) $ 69,949 $ (56,454) $ 13,495 Securities loaned 34,067 (8,848) 25,219 (24,252) 967 _____________ (1) Amounts include $ 4.9 billion of Securities purchased under agreements to resell, $ 3.5 billion of Securities borrowed, $ 9.7 billion of Securities sold under agreements to repurchase and $ 0.4 billion of Securities loaned, which are either not subject to master netting agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. (2) Amounts relate to master netting agreements, which have been determined by the Company to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable of fsetting accounting guidance. (3) Amounts include $3.9 billion of Securities purchased under agreements to resell, $4.2 billion of Securities borrowed, $15.6 billion of Securities sold under agreements to repurchase and $0.7 billion of Securities loaned, which are either not subject to master netting agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable . Secured Financing Transactions—Maturities and Collateral Pledged. The following ta bles present gross obligations for repurchase agreements, securities loaned transactions and obligations to return securities received as collateral by remaining contractual maturity and class of collateral pledged. At September 30, 2015 Remaining Contractual Maturity Overnight and Open Less than 30 days 30-90 days Over 90 days Total (dollars in millions) Securities sold under agreements to repurchase(1) $ 46,165 $ 21,392 $ 12,312 $ 37,320 $ 117,189 Securities loaned(1) 16,224 2,026 2,103 9,502 29,855 Gross amount of secured financing included in the above offsetting disclosure $ 62,389 $ 23,418 $ 14,415 $ 46,822 $ 147,044 Obligation to return securities received as collateral 20,328 — — — 20,328 Total $ 82,717 $ 23,418 $ 14,415 $ 46,822 $ 167,372 Secured Financing by the Class of Collateral Pledged At September 30, 2015 (dollars in millions) Securities sold under agreements to repurchase(1) U.S. government and agency securities $ 65,438 State and municipal securities 51 Other sovereign government obligations 35,608 Asset-backed securities 776 Corporate and other debt 4,426 Corporate equities 10,587 Other 303 Total securities sold under agreements to repurchase $ 117,189 Securities loaned(1) Other sovereign government obligations $ 9,356 Corporate and other debt 176 Corporate equities 20,312 Other 11 Total securities loaned $ 29,855 Gross amount of secured financing included in the above offsetting disclosure $ 147,044 Obligation to return securities received as collateral Corporate equities $ 20,328 Total obligation to return securities received as collateral $ 20,328 Total $ 167,372 _____________ (1) Amounts presented on a gross basis, prior to netting as shown on the Company’s condensed consolidated statements of financial condition. Trading Assets Pledged. The Company pledges its trading assets to collateralize repurchase agreements and other secured financings. Pledged financial instruments that can be sold or repledged by the secured party are identified as Trading assets (pledged to various parties) in the Company’s condensed consolidated statements of financial conditio n. At September 30, 2015 and December 31, 2014 , the carrying value of Trading assets by the Company that have been loaned or pledged to counterparties where those counterparties do not have the right to sell or reple dge the collateral were $ 43.1 billion and $ 31.3 billion, respectively. Collateral Received. The Company receives collateral in the form of securities in connection with reverse repurchase agreements, securities borrowed and derivative transactions, customer margin loans and securities-based lending. In many cases, the Company is permitted to sell or repledge these securities held as collateral and use the securities to secure repurchase agreements, to enter into securities lending and derivative transactions or for delivery to counterparties to cover short positions. Th e Company additionally receives securities as collateral in connection with certain securities-for-securities transactions in which the Company is the lender. In instances where the Company is permitted to sell or repledge these securities, the Company rep orts the fair value of the collateral received and the related obligation to return the collateral in its condensed consolidated statements of financial condition. At September 30, 2015 and December 31, 2014, the total fair value of financial instruments received as collateral where the Company is permitted to sell or repledge the securities was $ 593 billion and $ 546 billion, respectively, and the fair value of the portion that had been sold or repledged was $ 438 billion and $ 403 billion, respectively. O ther. The Company also engages in margin lending to clients that allows the client to borrow against the value of qualifying securities and is included within Customer and other receivables in the Company’s condensed consolidated statements of financial c ondition. For a further discussion of the Company’s margin lending activities, see Note 6 to the consolidated financial statements in the 2014 Form 10-K. At September 30, 2015 and December 31, 2014, there were approximately $ 25 .7 billion and $ 29.0 billi on, respectively, of customer margin loans outstanding. Other secured financings include the liabilities related to transfers of financial assets that are accounted for as financings rather than sales, consolidated VIEs where the Company is deemed to be t he primary beneficiary, and certain equity-linked notes and other secured borrowings. These liabilities are generally payable from the cash flows of the related assets accounted for as Trading assets (see Notes 10 and 12). At September 30, 2015 an d December 31, 2014 , cash and securities deposited with clearing organizations or segregated under federal and other regulations or requirements were as follows: At September 30, 2015 At December 31, 2014 (dollars in millions) Cash deposited with clearing organizations or segregated under federal and other regulations or requirements(1) $ 35,552 $ 40,607 Securities(2) 16,946 14,630 Total $ 52,498 $ 55,237 _____________ In June 2015, the Company made amendments to certain arrangements by which it acts in the capacity of a clearing member to clear derivatives on behalf of customers. These amendments resulted in approximately $ 3 . 8 billion related to cash initial margin received from customers and remitted to clearing organizations or third- party custodian banks no longer qualifying for recognition in the Company’s condensed consolidated statements of financial condition. Securities deposited with clearing organizations or segregated under federal and other regulations or requirements are sourced from Securities purchased under agreements to resell and Trading assets in the Company’s condensed consolidated statements of financial cond ition.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Financing Receivables and Allowance for Credit Losses	7. Loans and Allowance for Credit Losses. Loans. The Company’s loans held for investment are recorded at amortized cost, and its loans held for sale are recorded at lower of cost or fair value in the Company’s condens ed consolidated statements of financial condition. The Company’s outstanding loans at September 30, 2015 and December 31, 2014 included the following: At September 30, 2015 At December 31, 2014 Loans by Product Type Loans Held for Investment Loans Held for Sale Total Loans(1)(2) Loans Held for Investment Loans Held for Sale Total Loans(1)(2) (dollars in millions) Corporate loans $ 22,519 $ 8,509 $ 31,028 $ 19,659 $ 8,200 $ 27,859 Consumer loans 20,447 — 20,447 16,576 — 16,576 Residential real estate loans 19,640 121 19,761 15,735 114 15,849 Wholesale real estate loans 6,577 569 7,146 5,298 1,144 6,442 Total loans, gross of allowance for loan losses 69,183 9,199 78,382 57,268 9,458 66,726 Allowance for loan losses (173) — (173) (149) — (149) Total loans, net of allowance for loan losses $ 69,010 $ 9,199 $ 78,209 $ 57,119 $ 9,458 $ 66,577 ______________ Amounts include loans that are made to non-U.S. borrowers of $ 7,455 million and $ 7 , 017 million at September 30, 2015 and December 31, 2014 , respectively. Loans at fixed interest rates and floating or adjustable interest rates were $ 7,280 million and $ 70,929 million, respectively, at September 30, 2015 and $6,663 million and $59,914 million, respectively, at December 31, 2014 The above table does not include Loans and lending commitments held at fair value of $ 11,334 million and $ 11 ,962 million that were recorded as Trading assets in the Company’s condensed consolidated statement of financial condition at September 30, 2015 and December 31, 2014 , respectively. At September 30, 2015 , Loans and lending commitments held at fair val ue consisted of $ 6,762 million of corporate loans, $ 1,933 million of residential real estate loans and $ 2,639 million of wholesale real estate loans. At December 31, 2014 , Loans and lending commitments held at fair value consisted of $ 7,093 million of c orporate loans, $ 1,682 million of residential real estate loans and $ 3,187 million of wholesale real estate loans. See Note 3 for further information regarding Loans and lending commitments held at fair value. Credit Quality. For a discussion about th e Company’s evaluation of credit transactions and monitoring, see Note 8 to the Company’s consolidated financial statements in the 2014 Form 10-K. The Company utilizes the following credit quality indicators which are consistent with U.S. bank ing regulators’ definitions of criticized exposures, in its credit monitoring process for loans held for investment. • Pass . A credit exposure rated pass has a continued expectation of timely repayment, all obligations of the borrower are current, and the obligor complies with material terms and conditions of the lending agreement. • Special Mention . Extensions of cre dit that have potential weakness that deserve management’s close attention, and if left uncorrected may, at some future date, result in the deterioration of the repayment prospects or collateral position. • Substandard . Obligor has a well-defined wea kness that jeopardizes the repayment of the debt and has a high probability of payment default with the distinct possibility that the Company will sustain some loss if noted deficiencies are not corrected. • Doubtful . Inherent weakness in the exposur e makes the collection or repayment in full, based on existing facts, conditions and circumstances, highly improbable, and the amount of loss is uncertain. • Loss . Extensions of credit classified as loss are considered uncollectible and are charged o ff. Loans considered as doubtful or loss are considered impaired. Substandard loans are regularly reviewed for impairment. When a loan is impaired the impairment is measured based on the present value of expected future cash flows discounted at the loan’ s effective interest rate or as a practical expedient the observable market price of the loan or the fair value of the collateral if the loan is collateral dependent. For further information, see Note 2 to the Company’s consolidated financial statements in the 2014 Form 10-K. T he following tables present credit quality indicators for the Company’s loans held for investment, gross of allowance for loan losses, by product type . At September 30, 2015 Loans by Credit Quality Indicators Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Pass $ 21,265 $ 20,447 $ 19,596 $ 6,577 $ 67,885 Special mention 786 — — — 786 Substandard 447 — 44 — 491 Doubtful 21 — — — 21 Total loans $ 22,519 $ 20,447 $ 19,640 $ 6,577 $ 69,183 At December 31, 2014 Loans by Credit Quality Indicators Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Pass $ 17,847 $ 16,576 $ 15,688 $ 5,298 $ 55,409 Special mention 1,683 — — — 1,683 Substandard 127 — 47 — 174 Doubtful 2 — — — 2 Total loans $ 19,659 $ 16,576 $ 15,735 $ 5,298 $ 57,268 Allowance for Credit Losses and Impaired Loans. For factors considered by the Company in determining the allowance for loan losses and impairments, see Notes 2 and 8 to the Company’s consolidated financial statements in the 2014 Form 10-K. The tables below provide detail s on impaired and past due loans for the Company’s loans held for investment At September 30, 2015 At December 31, 2014 Loans by Product Type Corporate Residential Real Estate Total Corporate Residential Real Estate Total (dollars in millions) Impaired loans with allowance $ 17 $ — $ 17 $ — $ — $ — Impaired loans without allowance(1) 76 25 101 2 17 19 Impaired loans unpaid principal balance 93 25 118 2 17 19 Past due 90 days loans and on nonaccrual 53 28 81 2 25 27 (1) At September 30, 2015 and December 31, 2014 , no allowance was outstanding for these loans as the present value of the expected future cash flows (or alternatively, the observable market price of the loan or the fair value of the collateral held) exceeded or equaled the carrying value. At September 30, 2015 At December 31, 2014 Loans by Region Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total (dollars in millions) Impaired loans $ 101 $ 17 $ — $ 118 $ 19 $ — $ — $ 19 Past due 90 days loans and on nonaccrual 81 — — 81 27 — — 27 Allowance for loan losses 140 28 5 173 121 20 8 149 EMEA—Europe, Middle East and Africa. The table below summarizes information about the allowance for loan losses, loans by impairment methodology, the allowance for lending commitments and lending commitments by impairment methodology. Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Allowance for loan losses: Balance at December 31, 2014 $ 118 $ 2 $ 8 $ 21 $ 149 Gross charge-offs — — (1) — (1) Gross recoveries 1 — — — 1 Net recoveries/(charge-offs) 1 — (1) — — Provision for loan losses(1) 31 — 3 1 35 Other(2) (11) — — — (11) Balance at September 30, 2015 $ 139 $ 2 $ 10 $ 22 $ 173 Allowance for loan losses by impairment methodology: Inherent $ 134 $ 2 $ 10 $ 22 $ 168 Specific 5 — — — 5 Total allowance for loan losses at September 30, 2015 $ 139 $ 2 $ 10 $ 22 $ 173 Loans evaluated by impairment methodology(3): Inherent $ 22,426 $ 20,447 $ 19,615 $ 6,577 $ 69,065 Specific 93 — 25 — 118 Total loans evaluated at September 30, 2015 $ 22,519 $ 20,447 $ 19,640 $ 6,577 $ 69,183 Allowance for lending commitments: Balance at December 31, 2014 $ 147 $ — $ — $ 2 $ 149 Provision for lending commitments(4) 11 — — 1 12 Balance at September 30, 2015 $ 158 $ — $ — $ 3 $ 161 Allowance for lending commitments by impairment methodology: Inherent $ 158 $ — $ — $ 3 $ 161 Specific — — — — — Total allowance for lending commitments at September 30, 2015 $ 158 $ — $ — $ 3 $ 161 Lending commitments evaluated by impairment methodology(3): Inherent $ 65,627 $ 4,587 $ 310 $ 446 $ 70,970 Specific 128 — — — 128 Total lending commitments evaluated at September 30, 2015 $ 65,755 $ 4,587 $ 310 $ 446 $ 71,098 Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Allowance for loan losses: Balance at December 31, 2013 $ 137 $ 1 $ 4 $ 14 $ 156 Gross charge-offs — — — (3) (3) Gross recoveries — — — 1 1 Net charge-offs — — — (2) (2) Provision (release) for loan losses(1) (20) 1 3 3 (13) Balance at September 30, 2014 $ 117 $ 2 $ 7 $ 15 $ 141 Allowance for loan losses by impairment methodology: Inherent $ 115 $ 2 $ 7 $ 15 $ 139 Specific 2 — — — 2 Total allowance for loan losses at September 30, 2014 $ 117 $ 2 $ 7 $ 15 $ 141 Loans evaluated by impairment methodology(3): Inherent $ 18,575 $ 15,389 $ 14,169 $ 3,430 $ 51,563 Specific 14 — 29 — 43 Total loan evaluated at September 30, 2014 $ 18,589 $ 15,389 $ 14,198 $ 3,430 $ 51,606 Allowance for lending commitments: Balance at December 31, 2013 $ 125 $ — $ — $ 2 $ 127 Provision for lending commitments(4) 14 — — — 14 Balance at September 30, 2014 $ 139 $ — $ — $ 2 $ 141 Allowance for lending commitments by impairment methodology: Inherent $ 139 $ — $ — $ 2 $ 141 Specific — — — — — Total allowance for lending commitments at September 30, 2014 $ 139 $ — $ — $ 2 $ 141 Lending commitments evaluated by impairment methodology(3): Inherent $ 63,702 $ 4,354 $ 269 $ 288 $ 68,613 Specific 53 — — — 53 Total lending commitments evaluated at September 30, 2014 $ 63,755 $ 4,354 $ 269 $ 288 $ 68,666 _______________ (1) The Company recorded provisions of $ 5 million and $ 2 million for loan losses within Other revenues for the quarters ended September 30, 2015 and 2014 , respectively. (2) Amount includes the impact related to the transfer to loans held for sale and foreign currency translation adjustments. (3) Loan balances are gross of the allowance for loan losses and lending commitments are gross of credit losses. (4) The Company recorded a provision of $ 4 million and a release of $ 16 million for lending commitments within Other non-interest expenses for the quarters ended September 30, 2015 and 2014 , respectively. Employee Loans. Employee loans are granted primarily in conjunction with a program established in the Company’s We alth Management business segment to retain and recruit certain employees. These loans are recorded in Customer and other receivables in the Company’s condensed consolidated statements of financial condition. These loans are full recourse, generally require periodic payments and have repayment terms ranging from one to twelve years. The Company establishes an allowance for loan amounts it does not consider recoverable, which is recorded in Compensation and benefits expense. At September 30, 2015 , the Compan y had $ 4,887 million of employee loans, net of an allowance of approximately $ 121 million. At December 31, 2014 , the Company had $ 5,130 million of employee loans, net of an allowance of approximately $ 116 million.

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2015
Wealth Management JV
Equity Method Investments	8. Equity Method Investments. Equity Method Investment s . The Company has investments accounted for under the equity method of accounting (see Note 1 to the consolidated financial statements in the 2014 Form 10-K) of $ 3,244 million and $ 3,332 million at September 30, 2015 and December 31, 2014, respectively, included in Other investments in the Company’s condensed consolidated statements of financial condition. Income from equity method investments was $ 35 million and $ 32 million for the quarters ended September 30, 2015 and 2014 , respectively, and $118 million and $108 million for the nine months ended September 30, 2015 and 2014 , respectively, and is included in Other revenues in the Company’s condensed consolidated statements of income. Income from the Company’s equity method i nvestments for the quarters and nine months ended September 30, 2015 and 2014 was primarily related to the Company’s 40 % stake in Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (“MUMSS”), as described below. Japanese Securities Joint Venture. The Company holds a 40% voting interest and Mitsubishi UFJ Financial Group, Inc. holds a 60 % voting interest in MUMSS. The Company accounts for its interest in MUMSS as an equity method investment within the Company’s Institutional Securities business segment. During the quarters ended September 30, 2015 and 2014 , the Company recorded income of $ 54 million and $ 55 million, respectively, and income of $ 194 million and $ 146 million in the nine months ended September 30, 2015 and 2014 , respectively, within Other revenues in the Company’s condensed consolidated statements of income, arising from the Company’s 40% stake in MUMSS. In June 2015 and 2014 , MUMSS paid a dividend of approximately $ 291 million and $ 594 million, r espectively, of which the Company received approximately $ 116 million and $ 238 million, respectively, for its proportionate share of MUMSS.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
Deposits	9. Deposits. The Company’s d eposits, which were primarily in the U.S., were as follows: At September 30, 2015(1) At December 31, 2014(1) (dollars in millions) Savings and demand deposits $ 143,543 $ 132,159 Time deposits 3,683 1,385 Total $ 147,226 $ 133,544 (1) Total deposits subject to the Federal Deposit Insurance Corporation (the “FDIC”) insurance at September 30, 2015 and December 31, 2014 were $ 107 billion and $ 99 billion, respectively. Interest-bearing deposits at September 30, 2015 included $ 143,528 million of saving deposits payable upon demand, and $ 2,437 million of time deposits maturing in 2015, $ 1,053 million of time deposits maturing in 2016, $ 180 million of time deposits maturing in 2017 and $ 13 million of time deposits maturing in 201 8. The vast majority of deposits in Morgan Stanley Bank, N.A. (“MSBNA”) and Morgan Stanley Private Bank, National Association (“MSPBNA”) (collectively, “ U.S. Bank Subsidiaries”) are sourced from the Company’s retail brokerage accounts. Concurrent with the acquisition of the remaining 35 % stake in the purchase of the retail securities joint venture between the Company and Citigroup Inc. (“Citi”) (the “Wealth Management JV”) in 2013, the deposit sweep agreement between Citi and the Company was terminated ( se e Note 3 to the consolidated financial statements in the 2014 Form 10-K ). The transfer of deposits previously held by Citi to the Company’s depository institutions relating to the Company’s customer accounts was completed at June 30, 2015. During 2015 , $ 8.7 billion of deposits were transferred by Citi to the Company’s depository institutions.

Long-Term Borrowings and Other

Long-Term Borrowings and Other Secured Financings	9 Months Ended
	Sep. 30, 2015
Borrowings and Other Secured Financings
Long-Term Borrowings and Other Secured Financings	10. Long-Term Borrowings and Other Secured Financings. Long-Term Borrowings. The Company’s long-term borrowings included the following components: At September 30, 2015 At December 31, 2014 (dollars in millions) Senior debt $ 146,899 $ 139,565 Subordinated debt 10,575 8,339 Junior subordinated debentures 2,869 4,868 Total $ 160,343 $ 152,772 During the nine months ended September 30, 2015 and 2014 , the Company issued notes with a principal amount of approximately $ 30.2 billion and $ 26.5 billion, respectively, and approximately $ 17.6 billion and $ 24.7 billion, respectively, in aggregate long-term borrowings matured or were retired. The weighted average maturity of the Company’s long-term borrowings, based upon stated maturity dates , w as approximately 5.9 years for both September 30, 2015 and December 31, 2014 . During May of 2015, Morgan Stanley Capital Trusts VI and VII redeemed all of their issued and outstanding 6.60 % Capital Securities , respectively . Other Secured Financings. Other secured financings include the liabilities related to tr ansfers of financial assets that are accounted for as financings rather than sales, consolidated VIEs where the Company is deemed to be the primary beneficiary, pledged commodities, certain equity-linked notes and other secured borrowings. See Note 12 f or further information on Other secured financings related to VIEs and securitization activities. The Company’s Other secured financings consisted of the following: At September 30, 2015 At December 31, 2014 (dollars in millions) Secured financings with original maturities greater than one year $ 8,096 $ 10,346 Secured financings with original maturities one year or less 1,733 1,395 Failed sales(1) 342 344 Total $ 10,171 $ 12,085 ___________ (1) For more information on failed sales, see Note 12 .

Commitments, Guarantees and Con

Commitments, Guarantees and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments, Guarantees and Contingencies [Abstract]
Commitments, Guarantees and Contingencies	11. Commitments, Guarantees and Contingencies. Commitments. The Company’s commit ments associated with outstanding letters of credit and other financial guarantees obtained to satisfy collateral requirements, investment activities, corporate lending, securities financing arrangements, mortgage lending, underwriting commitments and other financing arrangements at September 30, 2015 are summarized below by years to maturity. Since commitments associated with these instruments may expire unused, the amounts shown do not necessarily reflect the actual future cash funding requirements: Years to Maturity at September 30, 2015 Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Letters of credit and other financial guarantees obtained to satisfy collateral requirements $ 315 $ 8 $ — $ 1 $ 324 Investment activities 484 61 20 533 1,098 Primary lending commitments—investment grade(1) 13,636 20,928 34,007 3,453 72,024 Primary lending commitments—non-investment grade(1) 2,278 6,246 14,131 5,947 28,602 Secondary lending commitments 45 81 48 40 214 Commitments for secured lending transactions 1,895 294 511 1,188 3,888 Forward starting reverse repurchase agreements and securities borrowing agreements(2)(3) 73,680 — — — 73,680 Commercial and residential mortgage-related commitments 18 359 70 1,262 1,709 Other lending commitments 5,058 980 601 139 6,778 Total $ 97,409 $ 28,957 $ 49,388 $ 12,563 $ 188,317 (1) Due to the nature of the Company’s obligations under the commitments, these amounts include certain commitments participated to third parties totaling $ 1.8 billion of investment grade and $ 3.0 billion of non-investment grade. ( 2 ) The Company enters into forward starting reverse repurchase and securities borrowing agreements (agreements that have a trade date at or prior to September 30, 2015 and settle subsequent to period-end) that are primari ly secured by collateral from U.S. government agency securities and other sovereign government obligations. These agreements primarily settle within three business days of the trade date, and of the total amount at September 30, 2015 , $ 60.3 billion settled within three business days. (3) The Company also has a contingent obligation to provide financing to a clearinghouse through which it clears certain transactions. The financing is required only upon the default of a clearingho use member. The financing takes the form of a reverse repurchase facility, with a maximum amount of approximately $ 1.3 billion. For a further description of these commitments, refer to Note 13 to the Company’s consolidated financial st atements in the 2014 Form 10-K . The Company sponsors several non-consolidated investment funds for third-party investors where the Company typically acts as general partner of, and investment advisor to, these funds and typically commits to invest a mino rity of the capital of such funds, with subscribing third-party investors contributing the majority. The Company’s employees, including its senior officers, as well as the Company’s Directors, may participate on the same terms and conditions as other inves tors in certain of these funds that the Company forms primarily for client investment, except that the Company may waive or lower applicable fees and charges for its employees. The Company has contractual capital commitments, guarantees, lending facilities and counterparty arrangements with respect to these investment funds. Guarantees. The table below summarizes certain information regarding the Company’s obligations under guarantee arrangements at September 30, 2015 : Maximum Potential Payout/Notional Carrying Amount (Asset)/ Liability Collateral/ Recourse Years to Maturity Type of Guarantee Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Credit derivative contracts(1) $ 164,281 $ 383,709 $ 171,658 $ 77,889 $ 797,537 $ (301) $ — Other credit contracts 1 806 340 49 1,196 (1,042) — Non-credit derivative contracts(1) 1,069,489 825,927 301,902 590,735 2,788,053 80,932 — Standby letters of credit and other financial guarantees issued(2) 818 1,509 1,311 6,284 9,922 (188) 6,962 Market value guarantees 26 397 221 34 678 4 82 Liquidity facilities 2,842 — — — 2,842 (4) 4,473 Whole loan sales guarantees — — 1 23,484 23,485 9 — Securitization representations and warranties — — — 63,613 63,613 98 — General partner guarantees 71 37 87 454 649 71 — _____________ (1) Carrying amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting. For further information on derivative contracts, see Note 4. (2) The se amounts include certain standby letters of credit participated to third parties totaling $ 0.7 billion due to the nature of the Company’s obligations under these arrangements. For a further description of these guarantees, refer to Note 13 to the Company’s consolidated financial statements in the 2014 Form 10-K. The Company has obligations under certain guarantee arrangements, including contracts and indemnification agreements , that contingently require a guarantor to make payments to the guaran teed 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 guar anteed party. Also included as guarantees are contracts that contingently require the guarantor 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. The Company’s use of guarantees is described in Note 13 to the Company’s consolidated financial statements in the 2014 Form 10-K. Other Guarantees and Indemnities. In the normal course of business, the Company provides guarantees and indemnific ations in a variety of commercial transactions. These provisions generally are standard contractual terms. Certain of these guarantees and indemnifications related to trust preferred securities, indemnities, exchange/clearinghouse member guarantees and mer ger and acquisition guarantees are described in Note 13 to the Company’s consolidated financial statements in the 2014 Form 10-K. In the ordinary course of business, the Company 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 Company’s subsidiaries covered by these guarantees (including any related debt or trading obligations) are included in the Company’s condensed consolidated financial statements . Contingencies. Legal . In the normal course of business, the Company 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 fina ncial 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 primar y 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. Over the last several years, the level of litigation and investigatory activi ty (both formal and informal) by governmental and self-regulatory agencies has increased materially in the financial services industry. As a result, the Company expects that it may become the subject of increased claims for damages and other relief and, wh ile the Company has identified below any individual proceedings where the Company 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 are not yet determined to be probable or possible and reasonably estimable losses. The Company contests liability and/or the amount of damages as appropriate in each pending matter. Where available information indicates that it is probab le a liability had been incurred at the date of the consolidated financial statements and the Company can reasonably estimate the amount of that loss, the Company accrues the estimated loss by a charge to income. The Company expects future litigation accru als in general to continue to be elevated and the changes in accruals from period to period may fluctuate significantly, given the current environment regarding government investigations and private litigation affecting global financial services firms, inc luding the Company. The Company incurred legal expenses of $ 320 million and $ 555 million in the quarter and nine months ended September 30, 2015, respectively, and $ 66 million and $ 256 million in the quarter and nine months ended September 30, 2014, respe ctively, within Other non-interest expenses. 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 pos sible 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. For certain legal pro ceedings and investigations, the Company cannot reasonably estimate such losses, particularly for proceedings and investigations where the factual record is being developed or contested or where plaintiffs or governmental entities seek substantial or indet erminate damages, restitution, disgorgement or penalties. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters, determination of issues related to class certification and th e calculation of damages or other relief, and by addressing novel or unsettled legal questions relevant to the proceedings or investigations in question, before a loss or additional loss or range of loss or additional loss can be reasonably estimated for a proceeding or investigation. For certain other legal proceedings and investigations, the Company can estimate reasonably possible losses, additional losses, ranges of loss or ranges of additional loss in excess of amounts accrued, but does not believe, b ased on current knowledge and after consultation with counsel, that such losses will have a material adverse effect on the Company’s consolidated financial statements as a whole, other than the matters referred to in the following paragraphs. On July 15, 2010, China Development Industrial Bank (“CDIB”) filed a complaint against the Company, styled China Development Industrial Bank v. Morgan Stanley & Co. Incorporated et al ., which is pending in the Supreme Court of the State of New York, New York County (“ Supreme Court of NY”). The complaint relates to a $275 million credit default swap referencing the super senior portion of the STACK 2006-1 CDO. The complaint asserts claims for common law fraud, fraudulent inducement and fraudulent concealment and alleges that the Company misrepresented the risks of the STACK 2006-1 CDO to CDIB, and that the Company knew that the assets backing the CDO were of poor quality when it entered into the credit default swap with CDIB. The complaint seeks compensatory damages rela ted to the approximately $228 million that CDIB alleges it has already lost under the credit default swap, rescission of CDIB’s obligation to pay an additional $12 million, punitive damages, equitable relief, fees and costs. On February 28, 2011, the court denied the Company’s motion to dismiss the complaint. Based on currently available information, the Company believes it could incur a loss of up to approximately $240 million plus pre- and post-judgment interest, fees and costs. On April 25, 2012, The Pr udential Insurance Company of America and certain affiliates filed a complaint against the Company and certain affiliates in the Superior Court of the State of New Jersey, styled The Prudential Insurance Company of America, et al. v. Morgan Stanley, et al. On October 16, 2012, plaintiffs filed an amended complaint which alleges that defendants made untrue statements and material omissions in connection with the sale to plaintiffs of certain mortgage pass-through certificates backed by securitization trusts containing residential mortgage loans. The total amount of certificates allegedly sponsored, underwritten and/or sold by the Company was approximately $1.073 billion. The amended complaint raises claims under the New Jersey Uniform Securities Law, as well as common law claims of negligent misrepresentation, fraud, fraudulent inducement, equitable fraud, aiding and abetting fraud, and violations of the New Jersey RICO statute, and includes a claim for treble damages. On April 26, 2013, the defendants filed a n answer to the amended complaint. On January 2, 2015, the court denied defendants’ renewed motion to dismiss the amended complaint. At September 25, 2015, the current unpaid balance of the mortgage pass-through certificates at issue in this action was app roximately $581 million, and the certificates had not yet incurred actual losses. Based on currently available information, the Company believes it could incur a loss in this action up to the difference between the $581 million unpaid balance of these cert ificates (plus any losses incurred) and their fair market value at the time of a judgment against the Company, or upon sale, plus pre- and post-judgment interest, fees and costs. The Company may be entitled to be indemnified for some of these losses and to an offset for interest received by the plaintiff prior to a judgment. On August 7, 2012, U.S. Bank, in its capacity as Trustee, filed a complaint on behalf of Morgan Stanley Mortgage Loan Trust 2006-4SL and Mortgage Pass-Through Certificates, Series 2006 -4SL (together, the “Trust”) against the Company. The matter is styled Morgan Stanley Mortgage Loan Trust 2006-4SL, et al. v. Morgan Stanley Mortgage Capital Inc. and is pending in the Supreme Court of NY. The complaint asserts claims for breach of contrac t and alleges, among other things, that the loans in the trust, which had an original principal balance of approximately $303 million, breached various representations and warranties. The complaint seeks, among other relief, rescission of the mortgage loan purchase agreement underlying the transaction, specific performance and unspecified damages and interest. On August 8, 2014, the court granted in part and denied in part the Company’s motion to dismiss. On September 3, 2014, the Company filed its answer t o the complaint. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $149 million, the total original unpaid balance of the mortgage loans for which the Company received repurchase demands that it 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. On August 8, 2012, U.S. Bank, in its capacity as Trus tee, filed a complaint on behalf of Morgan Stanley Mortgage Loan Trust 2006-14SL, Mortgage Pass-Through Certificates, Series 2006-14SL, Morgan Stanley Mortgage Loan Trust 2007-4SL and Mortgage Pass-Through Certificates, Series 2007-4SL against the Company. The complaint is styled Morgan Stanley Mortgage Loan Trust 2006-14SL, et al. v. Morgan Stanley Mortgage Capital Holdings LLC, as successor in interest to Morgan Stanley Mortgage Capital Inc . and is 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 trusts, which had original principal balances of approximately $354 million and $305 million respectively, breached various representations and warranties. On August 16, 2013, the court granted in part and denied in part the Company’s motion to dismiss the complaint. On September 17, 2013, the Company filed its answer to the complaint. On September 26, 2013, and October 7, 2013, the Company and the plaintiff, respectively, filed notices of appeal with respect to the court’s August 16, 2013 decision. The plaintiff is seeking, among other relief, rescission of the mortgage loan purchase agreements underlying the transactions, specific performance and unspecified damages and i nterest. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $527 million, the total original unpaid balance of the mortgage loans for which the Company received repurchase demands that it 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. On September 28, 2012, U.S. Bank, in its capacity as Trustee, filed a complaint on behalf of Morgan Stanley Mortgage Loan Trust 2006-13ARX against the Company styled Morgan Stanley Mortgage Loan Trust 2006-13ARX v. Morgan Stanley Mortgage Capital Holdings LLC, as successor in interest to Morgan Stanley Mortgage Capi tal Inc., pending in the Supreme Court of NY. U.S. Bank filed an amended complaint on January 17, 2013, which asserts claims for breach of contract and alleges, among other things, that the loans in the trust, which had an original principal balance of app roximately $609 million, breached various representations and warranties. The amended complaint seeks, among other relief, declaratory judgment relief, specific performance and unspecified damages and interest. On September 25, 2014, the court granted in p art and denied in part the Company’s motion to dismiss. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $170 million, the total original unpaid balance of the mortgage loans fo r which the Company received repurchase demands that it 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. On January 10, 2013, U.S. Bank, in its capacity as Trustee, filed a complaint on behalf of Morgan Stanley Mortgage Loan Trust 2006-10SL and Mortgage Pass-Through Certificates, Series 2006-10SL against the Company. The complaint is styled Morgan Stanley Mortgage Loan Trus t 2006-10SL, et al. v. Morgan Stanley Mortgage Capital Holdings LLC, as successor in interest to Morgan Stanley Mortgage Capital Inc. and is pending in the Supreme Court of NY. The complaint asserts claims for breach of contract and alleges, among other th ings, that the loans in the trust, which had an original principal balance of approximately $300 million, breached various representations and warranties. The complaint seeks, among other relief, an order requiring the Company to comply with the loan breac h remedy procedures in the transaction documents, unspecified damages, and interest. On August 8, 2014, the court granted in part and denied in part the Company’s motion to dismiss. On September 3, 2014, the Company filed its answer to the complaint. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $197 million, the total original unpaid balance of the mortgage loans for which the Company received repurchase demands that it did n ot 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. On May 3, 2013, plaintiffs in Deutsche Zentral-Genossenschaftsbank AG et al . v. Morgan Stanley et al. filed a complaint against the Company, certain affiliates, and other defendants in the Supreme Court of NY. The complaint alleges that defendants made material misrepresentations and omissions in the sale to plaintiffs of certain mortgage pass-through certificates backed by securitization trusts containing residential mortgage loans. The total amount of certificates allegedly sponsored, underwritten and/or sold by the Company to plaintiff currently at issue in this action was appr oximately $644 million. The complaint alleges causes of action against the Company for common law fraud, fraudulent concealment, aiding and abetting fraud, negligent misrepresentation, and rescission and seeks, among other things, compensatory and punitive damages. On September 12, 2014, the Company filed a notice of appeal from the June 10, 2014 denial of the defendants’ motion to dismiss. On January 12, 2015, the Company filed an amended answer to the complaint. At September 25, 2015, the current unpaid b alance of the mortgage pass-through certificates at issue in this action was approximately $277 million, and the certificates had incurred actual losses of approximately $81 million. Based on currently available information, the Company believes it could i ncur a loss in this action up to the difference between the $277 million unpaid balance of these certificates (plus any losses incurred) and their fair market value at the time of a judgment against the Company, or upon sale, plus pre- and post-judgment in terest, fees and costs. The Company may be entitled to be indemnified for some of these losses. On September 23, 2013, the plaintiff in National Credit Union Administration Board v. Morgan Stanley & Co. Inc., et al. filed a complaint against the Company and certain affiliates in the United States District Court for the Southern District of New York (“SDNY”). The complaint alleges that defendants made untrue statements of material fact or omitted to state material fact s in the sale to the plaintiff of certain mortgage pass-through certificates issued by securitization trusts containing residential mortgage loans. The total amount of certificates allegedly sponsored, underwritten and/or sold by the Company to plaintiffs was approximately $417 million. The amended complaint, filed November 17, 2014, alleges causes of action against the Company for violations of the Texas Securities Act and the Illinois Securities Law of 1953 and seeks, among other things, rescissory and co mpensatory damages. On December 15, 2014, defendants answered the amended complaint. At September 25, 2015, the current unpaid balance of the mortgage pass-through certificates at issue in this action was approximately $194 million, and the certificates ha d incurred actual losses of $31 million. Based on currently available information, the Company believes it could incur a loss in this action up to the difference between the $194 million unpaid balance of these certificates (plus any losses incurred) and t heir fair market value at the time of a judgment against the Company, or upon sale, plus pre- and post-judgment interest, fees and costs. The Company may be entitled to be indemnified for some of these losses and to an offset for interest received by the p laintiff prior to a judgment. On April 28, 2014, Deutsche Bank National Trust Company, in its capacity as trustee for Morgan Stanley Structured Trust I 2007-1, filed a complaint against the Company. The matter is styled Deutsche Bank National Trust Compan y v. Morgan Stanley Mortgage Capital Holdings LLC and is pending in the SDNY. 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 $735 mi llion, breached various representations and warranties. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, unspecified compensatory and/or rescissory damages, interest and costs. On April 3, 2015, the court granted in part and denied in part the Company’s motion to dismiss. On April 17, 2015, the Company filed its answer to the complaint. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $292 million, the total original unpaid balance of the mortgage loans for which the Company received repurchase demands that it did not repurchase, plus pre- and post-judgment interest, fees and costs, but plaintiff is se eking to expand the number of loans at issue and the possible range of loss could increase. On July 8, 2013, U.S. Bank National Association, in its capacity as trustee for Morgan Stanley Mortgage Loan Trust 2007-2AX, filed a complaint against the Company. The matter is styled U.S. Bank National Association, solely in its capacity as Trustee of the Morgan Stanley Mortgage Loan Trust 2007-2AX (MSM 2007-2AX) v. Morgan Stanley Mortgage Capital Holdings LLC, as Successor-by-Merger to Morgan Stanley Mortgage Cap ital Inc. and GreenPoint Mortgage Fundin g, Inc. and is 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 approxi mately $650 million, breached various representations and warranties. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, unspecified damages and interest. On August 22, 2013, th e Company filed a motion to dismiss the complaint, which was granted in part and denied in part on November 24, 2014. The Company filed its answer on December 12, 2014. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $240 million, the total original unpaid balance of the mortgage loans for which the Company received repurchase demands that it did not repurchase, plus pre- and post-judgment interest, fees and costs, but plaint iff 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 for Morgan Stanley ABS Capital I Inc. Trust 2007-NC4, filed a complaint against the Company. The matter is styled Deutsche Bank National Trust Company solely in its capac ity 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. and is pending in the Supreme Cour t 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 complai nt 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 October 20, 2015, the court grant ed in part and den ied in part the Company’s motion to dismiss. Based on currently available information, the Company believes that it could incur a loss in this action of up to approximately $277 million, the total orig inal unpaid balance of the mortgage loans for which the Company received repurchase demands from a certificate holder and a monoline insurer that the Company 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.

Variable Interest Entities and

Variable Interest Entities and Securitization Activities	9 Months Ended
	Sep. 30, 2015
Securitization Activities and Variable Interest Entities [Abstract]
Variable Interest Entity Disclosures	12. Variable Interest Entities and Securitization Activities. The Company is involved with various special purpose entities (“SPE”) in the normal course of business. In most cases, these entities are deemed to be VIEs. The Company’s transactions with VIEs primarily include securitizations, municipal tender option bond trusts, credit protection purchased through credit-linked notes, other structured financings, collateralized loan and debt obligations, equity-linked notes, managed real estate partnersh ips and asset management investment funds. The Company’s continuing involvement in VIEs that it does not consolidate can include ownership of retained interests in Company-sponsored transactions, interests purchased in the secondary market (both for Compan y-sponsored transactions and transactions sponsored by third parties), and derivatives with securitization SPEs (primarily interest rate derivatives in commercial mortgage and residential mortgage securitizations and credit derivatives in which the Company has purchased protection in synthetic CDOs). For a further discussion on the Company’s VIEs, the determination and structure of VIEs and securitization activities, see Note 7 to the Company’s consolidated financial statements in the 2014 Form 10-K. Consoli dated VIEs. Except for consolidated VIEs included in other structured financings and managed real estate partnerships in the tables below, the Company accounts for the assets held by the entities primarily in Trading assets and the liabilities of the ent ities in Other secured financings in its condensed consolidated statements of financial condition. For consolidated VIEs included in other structured financings, the Company accounts for the assets held by the entities primarily in Premises, equipment and software costs, and Other assets in its condensed consolidated statements of financial condition. For consolidated VIEs included in managed real estate partnerships, the Company accounts for the assets held by the entities primarily in Trading assets in it s condensed consolidated statements of financial condition. Except for consolidated VIEs included in other structured financings, the assets and liabilities are measured at fair value, with changes in fair value reflected in earnings. The assets owned by many consolidated VIEs cannot be removed unilaterally by the Company and are not generally available to the Company. The related liabilities issued by many consolidated VIEs are non-recourse to the Company. In certain other consolidated VIEs, the Company either has the unilateral right to remove assets or provide additional recourse through derivatives such as total return swaps, guarantees or other forms of involvement. The following table presents information at September 30, 2015 and December 31, 2014 about VIEs that the Company consolidates. Consolidated VIE assets and liabilities are presented after intercompany eliminations and include assets financed on a non-recourse basis: At September 30, 2015 At December 31, 2014 VIE assets VIE liabilities VIE assets VIE liabilities (dollars in millions) Mortgage- and asset-backed securitizations $ 437 $ 254 $ 563 $ 337 Managed real estate partnerships(1) 60 1 288 4 Other structured financings 830 13 928 80 Credit linked notes and Other 1,635 192 1,199 — _________ During the second quarter of 2015, the Company deconsolidated approximately $ 191 million in net assets previously attributable to nonredeemable noncontrolling interests that were related to a real estate fund sponsored by the Company. In general, the Company’s exposure to loss in consolidated VIEs is limited to losses that would be absorbed on the VIE’s assets recognized in its financial statements, net of losses absorbed by third-party holders of the VIE’s liabilities. At September 30, 2015 and December 31, 2014 , managed real estate partnerships reflected nonredeemable noncontrol ling interests in the Company’s condensed consoli dated financial statements of $ 59 million and $ 240 million, respectively. The Company al so had additional maximum exposure to losses of approximately $ 69 million and $ 105 million at September 30, 2015 and December 31, 2014 , respectively , primarily related to certain derivatives, commitments, guarantees and ot her forms of involvement . Non-Consolidated VIEs. The following tables present information about certain non-consolidated VIEs in which the Company had variable interests at September 30, 2015 and December 31, 2014 . The tables include all VIEs in which the Company has determined that its maximum exposure to loss is greater than specific thresholds or meets certain other criteria. Most of the VIEs included in the tables below are sponsored by unrelated parties; the Company’s involvement generally is the result of the Company’s secondary market-making activities and securities held in its Investment securities portfolio (see Note 5): At September 30, 2015 Mortgage- and Asset-Backed Securitizations Collateralized Debt Obligations Municipal Tender Option Bonds Other Structured Financings Other (dollars in millions) VIE assets that the Company does not consolidate (unpaid principal balance)(1) $ 161,547 $ 15,046 $ 4,343 $ 1,696 $ 20,012 Maximum exposure to loss: Debt and equity interests(2) $ 15,121 $ 1,704 $ 12 $ 1,078 $ 3,559 Derivative and other contracts 13 — 2,597 — 66 Commitments, guarantees and other 956 1,120 — 609 268 Total maximum exposure to loss $ 16,090 $ 2,824 $ 2,609 $ 1,687 $ 3,893 Carrying value of exposure to loss—Assets: Debt and equity interests(2) $ 15,121 $ 1,704 $ 12 $ 644 $ 3,560 Derivative and other contracts 13 — 21 — 30 Total carrying value of exposure to loss—Assets $ 15,134 $ 1,704 $ 33 $ 644 $ 3,590 Carrying value of exposure to loss—Liabilities: Derivative and other contracts $ — $ — $ 17 $ — $ 2 Commitments, guarantees and other — — — 5 — Total carrying value of exposure to loss—Liabilities $ — $ — $ 17 $ 5 $ 2 At December 31, 2014 Mortgage- and Asset-Backed Securitizations Collateralized Debt Obligations Municipal Tender Option Bonds Other Structured Financings Other (dollars in millions) VIE assets that the Company does not consolidate (unpaid principal balance)(3) $ 174,548 $ 26,567 $ 3,449 $ 2,040 $ 19,237 Maximum exposure to loss: Debt and equity interests(4) $ 15,028 $ 3,062 $ 13 $ 1,158 $ 3,884 Derivative and other contracts 15 2 2,212 — 164 Commitments, guarantees and other 1,054 432 — 617 429 Total maximum exposure to loss $ 16,097 $ 3,496 $ 2,225 $ 1,775 $ 4,477 Carrying value of exposure to loss—Assets: Debt and equity interests(4) $ 15,028 $ 3,062 $ 13 $ 741 $ 3,884 Derivative and other contracts 15 2 4 — 74 Total carrying value of exposure to loss—Assets $ 15,043 $ 3,064 $ 17 $ 741 $ 3,958 Carrying value of exposure to loss—Liabilities: Derivative and other contracts $ — $ — $ — $ — $ 57 Commitments, guarantees and other — — — 5 — Total carrying value of exposure to loss—Liabilities $ — $ — $ — $ 5 $ 57 (1) Mortgage- and asset-backed securitizations include VIE assets as follows: $ 14.5 billion of residential mortgages; $ 77.3 billion of commercial mortgages; $ 17.3 billion of U.S. agency collateralized mortgage obligations; and $ 52.4 billion of other consumer or commercial loans. (2) Mortgage- and asset-backed se curitizations include VIE debt and equity interests as follows: $ 1.2 billion of residential mortgages; $ 3.1 billion of commercial mortgages; $ 3.8 billion of U.S. agency collateralized mortgage obligations; and $ 7.0 billion of other consumer or commercial loans. (3) Mortgage- and asset-backed securit izations include VIE assets as follows: $ 30.8 billion of residential mortgages; $ 71.9 billion of commercial mortgages; $ 20.6 billion of U.S. agency collateralized mortgage obligations; and $ 51.2 billion of other consumer or commercial loans. (4) Mortgage - and asset-backed securitizations include VIE debt and equity interests as follows: $ 1.9 billion of residential mortgages; $ 2.4 billion of commercial mortgages; $ 4.0 billion of U.S. agency collateralized mortgage obligations; and $ 6.8 billion of other con sumer or commercial loans. The Company’s maximum exposure to loss often differs from the carrying value of the variable interests held by the Company. The maximum exposure to loss is dependent on the nature of the Company’s variable interest in the VIEs and is limited to the notional amounts of certain liquidity facilities, other credit support, total return swaps, written put options, and the fair value of certain other derivatives and investments the Company has made in the VIEs. Liabilities issued by V IEs generally are non-recourse to the Company. Where notional amounts are utilized in quantifying maximum exposure related to derivatives, such amounts do not reflect fair value write-downs already recorded by the Company. The Company’s maximum exposure to loss does not include the offsetting benefit of any financial instruments that the Company may utilize to hedge these risks associated with the Company’s variable interests. In addition, the Company’s maximum exposure to loss is not reduced by the amoun t of collateral held as part of a transaction with the VIE or any party to the VIE directly against a specific exposure to loss. Securitization transactions generally involve VIEs. Primarily as a result of its secondary market-making activities, the Company owned additional securities issued by securitization SPEs for which the maximum exposure to loss is less than specific thresholds. These additional securities totaled $ 13.7 billion and $14.0 billion at September 30, 2015 , and December 31, 2014 , respectively. These securities were either retained in connection with transfers of assets by the Company , acquired in connection with secondary market-making activities or held as AFS securities in the Company’s Investment securities portfolio (see Note 5). At September 30, 2015 , and December 31, 2014 , these securities consisted of securities backed by residential mortgage loans, commercial mortgage loans or other consumer loans, such as credit card receivables, automobile loans and student loans, and CDOs or CLOs. The Company’s primary risk exposure is to the securities issued by the SPE owned by the Company, with the risk highest on the most subordinate class of beneficial interests. These securities generally are included in Trading assets—Corporate and other debt or AFS securities within the Company’s Investment securities portfolio and are measure d at fair value (see Note 3). T he Company does not provide additional support in these transactions through contractual facilities, such as liquidity facilities, guarantees or similar derivatives. The Company’s maximum exposure to loss generally equals the fair value of the securities owned. Transfers of Assets with Continuing Involvement. The following tables present information at September 30, 2015 , and December 31, 2014 , respectively, regarding transactions with SPEs in which the Company, act ing as principal, transferred financial assets with continuing involvement and received sales treatment: At September 30, 2015 Residential Mortgage Loans Commercial Mortgage Loans U.S. Agency Collateralized Mortgage Obligations Credit-Linked Notes and Other(1) (dollars in millions) SPE assets (unpaid principal balance)(2) $ 24,523 $ 58,983 $ 19,020 $ 20,296 Retained interests (fair value): Investment grade $ — $ 150 $ 1,290 $ — Non-investment grade 203 69 — 1,194 Total retained interests (fair value) $ 203 $ 219 $ 1,290 $ 1,194 Interests purchased in the secondary market (fair value): Investment grade $ — $ 231 $ 204 $ 2 Non-investment grade 92 81 — 31 Total interests purchased in the secondary market (fair value) $ 92 $ 312 $ 204 $ 33 Derivative assets (fair value) $ — $ 376 $ — $ 117 Derivative liabilities (fair value) — — — 780 _____________ (1) Amounts i nclude CLO transactions managed by unrelated third parties. ( 2 ) Amounts include assets transferred by unrelated transferors. At September 30, 2015 Level 1 Level 2 Level 3 Total (dollars in millions) Retained interests (fair value): Investment grade $ — $ 1,437 $ 3 $ 1,440 Non-investment grade — 28 1,438 1,466 Total retained interests (fair value) $ — $ 1,465 $ 1,441 $ 2,906 Interests purchased in the secondary market (fair value): Investment grade $ — $ 437 $ — $ 437 Non-investment grade — 168 36 204 Total interests purchased in the secondary market (fair value) $ — $ 605 $ 36 $ 641 Derivative assets (fair value) $ — $ 456 $ 37 $ 493 Derivative liabilities (fair value) — 764 16 780 At December 31, 2014 Residential Mortgage Loans Commercial Mortgage Loans U.S. Agency Collateralized Mortgage Obligations Credit-Linked Notes and Other(1) (dollars in millions) SPE assets (unpaid principal balance)(2) $ 26,549 $ 58,660 $ 20,826 $ 24,011 Retained interests (fair value): Investment grade $ 10 $ 117 $ 1,019 $ 57 Non-investment grade 98 120 — 1,264 Total retained interests (fair value) $ 108 $ 237 $ 1,019 $ 1,321 Interests purchased in the secondary market (fair value): Investment grade $ 32 $ 129 $ 61 $ 423 Non-investment grade 32 72 — 59 Total interests purchased in the secondary market (fair value) $ 64 $ 201 $ 61 $ 482 Derivative assets (fair value) $ — $ 495 $ — $ 138 Derivative liabilities (fair value) — — — 86 _____________ (1) Amounts i nclude CLO transactions managed by unrelated third parties. (2) Amounts include assets transferred by unrelated transferors. At December 31, 2014 Level 1 Level 2 Level 3 Total (dollars in millions) Retained interests (fair value): Investment grade $ — $ 1,166 $ 37 $ 1,203 Non-investment grade — 123 1,359 1,482 Total retained interests (fair value) $ — $ 1,289 $ 1,396 $ 2,685 Interests purchased in the secondary market (fair value): Investment grade $ — $ 644 $ 1 $ 645 Non-investment grade — 129 34 163 Total interests purchased in the secondary market (fair value) $ — $ 773 $ 35 $ 808 Derivative assets (fair value) $ — $ 559 $ 74 $ 633 Derivative liabilities (fair value) — 82 4 86 Transferred assets are carried at fair value prior to securitization, and any changes in fair value are recognized in the Company’s condensed consolidated statements of income. The Company may act as underwriter of the beneficial interests issued by these securitization vehicles. Investment banking underwriting net revenues are recognized in connection with these transactions. The Company may retain interests in the securitized financial assets as one or more tranches of the securitization. These retained interests are included in the Company’s condensed consolidated statements of financial condition at fair value. Any changes in the fair value of such retained interests are recognized in the Company’s condensed consolidated statements of income. Net gai ns on sale of assets in securitization transactions at the time of the sale were not material for the quarters and nine months ended September 30, 2015 and 2014 . For the quarters and nine months ended September 30, 2015 and 2014 , proceeds from ne w securitization transactions and proceeds from retained interests in securitization transactions received by the Company were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Proceeds received from new securitization transactions $ 6,105 $ 7,662 $ 17,270 $ 17,310 Proceeds from retained interests in securitization transactions 476 714 2,082 2,186 The Company has provided, or otherwise agreed to be responsible for, representations and warranties regarding certain assets transferred in securitization transactions sponsored by the Company (see Note 11 ). I n connection with its underwriting of CLO transactions for unaffiliated sponsors, the Company received proceeds from the sale of corporate loans sold to those SPEs as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Proceeds from sale of corporate loans sold to those SPEs $ 121 $ 447 $ 1,086 $ 1,572 Net gains on sale of corporate loans to CLO transactions at the time of sale were not material for the quarters and nine months ended September 30, 2015 and 2014 . The Company also enters into transactions in which it sells equity securities and contemporaneously enters into bilateral OTC equity derivatives with the purchasers of the securities, through which derivatives it retains the exposure to the securities. For transactions where the derivatives were outstanding at September 30, 2015, the carr ying value of assets derecognized at the time of sale and the gross cash proceeds were $ 7.7 billion. In addition, the fair value at September 30, 2015 of the assets sold was $ 7.4 billion while the fair value of derivative assets and derivative liabilities recognized in the Company’s condensed consolidated statement of financial condition at September 30, 2015 was $ 39.5 million and $ 225 million, respectively (see Note 4 ). Failed Sales. In order to be treated as a sale of assets for accounting purp oses, a transaction must meet all of the criteria stipulated in the accounting guidance for the transfer of financial assets. A transfer that fails to meet these criteria is treated as a failed sale. In such cases, the Company continues to recognize the as sets in Trading assets, and the Company recognizes the associated liabilities in Other secured financings in its condensed consolidated statements of financial condition (see Note 10 ). The assets transferred to unconsolidated VIEs in transactions accou nted for as failed sales cannot be removed unilaterally by the Company and are not generally available to the Company. The related liabilities are also non-recourse to the Company. In certain other failed sale transactions, the Company has the right to rem ove assets or provide additional recourse through derivatives such as total return swaps, guarantees or other forms of involvement. The following table presents information about the carrying value (equal to fair value) of assets and liabilities resultin g from transfers of financial assets treated by the Company as secured financings : At September 30, 2015 At December 31, 2014 Carrying Value of Carrying Value of Assets Liabilities Assets Liabilities (dollars in millions) Failed sales $ 342 $ 342 $ 352 $ 344

Regulatory Requirements

Regulatory Requirements	9 Months Ended
	Sep. 30, 2015
Regulatory Requirements
Regulatory Requirements	13. Regulatory Requirements. Regulatory Capital Framework . For a discussion of the Company’s regulatory capital framework, see Note 14 to the consolidated financial statements in the 2014 Form 10-K. Calculation of Risk-Based Capital Ratios. The Company is required to calculate and hold capital against cred it, market and operational risk- weighted assets (“RWAs”). For a further discussion of the Company’s RWAs, see Note 14 to the consolidated financial statements in the 2014 Form 10-K. As a U.S. Basel III Advanced Approach banking organization, the Company is subject to a permanent “capital floor” based on the lower of the risk-based capital ratios calculated using ( i ) standardized approaches for calculating credit risk RWAs and market risk RWAs (the “Standardized Approach”); and (ii) an advanced internal ratings-based approach for calculating credit risk RWAs, an advanced measurement approach for calculating operational risk RWAs, and an advan ced approach for calculating market risk RWAs (the “Advanced Approach”) under the U.S. revised risk-based and leverage capital framework, referred to herein as “U.S. Basel III.” The capital floor applies to the calculation of the minimum risk-based capital requirements and, when in effect, the capital conservation buffer, the countercyclical capital buffer (if deployed by banking regulators), and the global systemically important bank (“G-SIB”) capital surcharge. The methods for calculating each of the C ompany’s risk-based capital ratios will change through January 1, 2022 as aspects of U.S. Basel III are phased in. These ongoing methodological changes may result in differences in the Company’s reported capital ratios from one reporting period to the next that are independent of changes to the Company’s capital base, asset composition, off-balance sheet exposures or risk profile. The Company’s Regulatory Capital and Capital Ratios. Beginning on January 1, 2015, the risk-based capital ratios for regulatory purposes of the Company and its U.S. Bank Subsidiaries are the lower of each ratio calculated using RWAs under the Advanced Approach or the Standardized Approach under U.S. Basel III , in both cases subject to transitional provisions. In 2014, the Company’s binding risk-based capital ratios were the lower of its ratios computed under the Advanced Approach or U.S. banking regulators’ U.S. Basel I-based rules (“U.S. Basel I”) as suppleme nted by rules that implemented the Basel Committee’s market risk capital framework amendment, commonly referred to as “Basel 2.5”. At September 30, 2015 , the Company’s risk-based capital ratios were lower under the Advanced Approach transitional rules; ho wever, the risk-based capital ratios for its U.S. Bank Subsidiaries were lower under the Standardized Approach transitional rules. The following table presents the Company’s capital measures under the U.S. Basel III Advanced Approach transitional rules and the minimum regulatory capital ratios. At September 30, 2015 At December 31, 2014 Amount Ratio Minimum Regulatory Capital Ratio(1) Amount Ratio Minimum Regulatory Capital Ratio(1) (dollars in millions) Regulatory capital and capital ratios: Common Equity Tier 1 capital $ 59,056 14.0% 4.5% $ 57,324 12.6% 4.0% Tier 1 capital 66,071 15.6% 6.0% 64,182 14.1% 5.5% Total capital 78,921 18.6% 8.0% 74,972 16.4% 8.0% Tier 1 leverage — 8.1% 4.0% — 7.9% 4.0% Assets: RWAs $ 423,242 N/A N/A $ 456,008 N/A N/A Adjusted average assets(2) 816,722 N/A N/A 810,524 N/A N/A __________ N/A—Not Applicable. (1) Percentages represent minimum regulatory capital ratios under U.S. Basel III transitional rules. (2) Beginning with the first quarter of 2015, in accordance with U.S. Basel III, adjusted average assets represent the denominator of the Tier 1 leverage ratio and were composed of the average daily balance of consolidated on-balance sheet assets under U.S. GAAP during the calendar quarter, adjusted for disallowed goodwill, transitional intangible assets, certain deferred tax assets, certain investments in the capital instruments of unconsolidated financial institutions and other adjustments. The Company’s U.S. Bank Subsidiaries . The Company’s U.S. Bank Subsidiaries are subject to similar regulatory capital requirement s as the Company. Failure to meet minimum capital requirements can initiate certain mandatory and discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s U.S. Bank Subsidiaries ’ financial statements. Und er capital adequacy guidelines and the regulatory framework for prompt corrective action, each of the Company’s U.S. Bank Subsidiaries must meet specific capital guidelines that involve quantitative measures of its assets, liabilities and certain off-balanc e sheet items as calculated under regulatory accounting practices. The following table sets forth the capital information for MSBNA: At September 30, 2015 At December 31, 2014 U.S. Basel III Transitional/ Standardized Approach Required Capital Ratio(1) U.S. Basel III Transitional/ Basel I + Basel 2.5 Approach Required Capital Ratio(1) Amount Ratio Amount Ratio (dollars in millions) Common Equity Tier 1 capital $ 12,939 13.8% 6.5% $ 12,355 12.2% 6.5% Tier 1 capital 12,939 13.8% 8.0% 12,355 12.2% 8.0% Total capital 14,649 15.7% 10.0% 14,040 13.9% 10.0% Tier 1 leverage 12,939 10.1% 5.0% 12,355 10.2% 5.0% The following table sets forth the capital information for MSPB NA: At September 30, 2015 At December 31, 2014 U.S. Basel III Transitional/ Standardized Approach Required Capital Ratio(1) U.S. Basel III Transitional/ Basel I + Basel 2.5 Approach Required Capital Ratio(1) Amount Ratio Amount Ratio (dollars in millions) Common Equity Tier 1 capital $ 3,433 23.0% 6.5% $ 2,468 20.3% 6.5% Tier 1 capital 3,433 23.0% 8.0% 2,468 20.3% 8.0% Total capital 3,447 23.1% 10.0% 2,480 20.4% 10.0% Tier 1 leverage 3,433 9.9% 5.0% 2,468 9.4% 5.0% _______ (1) Capital ratios required to be considered well-capitalized for U.S. regulatory purposes. Under regulatory capital requirements adopted by the U.S. federal banking agencies, U.S. depository institutions, in order to be considered well-capitalized, must maintain certain minimum capital ratios. Each U.S. depository institution subsidiary of the C ompany must be well-capitalized in order for the Company to continue to qualify as a financial holding company and to continue to engage in the broadest range of financial activities permitted for financial holding companies. At September 30, 2015 and Dec ember 31, 2014, the Company’s U.S. Bank Subsidiaries maintained capital at levels in excess of the universally mandated well-capitalized requirements. The Company’s U.S. Bank Subsidiaries maintained capital at levels sufficiently in excess of these “well c apitalized” requirements to address any additional capital needs and requirements identified by the U.S. federal banking regulators. MS&Co. and Other Broker-Dealers. Morgan Stanley & Co. LLC (“MS&Co.”) is a registered broker-dealer and registered fut ures commission merchant and, accordingly, is subject to the minimum net capital requirements of the SEC and the U.S. Commod ity Futures Trading Commission (“CFTC”). MS&Co. has consistently operated with capital in excess of its regulatory capital requireme nts. MS&Co.’s net capital totaled $ 9,533 million and $ 6,593 million at September 30, 2015 and December 31, 2014 , respectively, which exceeded the amount required by $ 7,784 million and $ 4,928 million, respectively . MS&Co. is required to hold tentative n et capital in excess of $ 1 billion and net capital in excess of $ 500 million in accordance with the market and credit risk standards of Appendix E of SEC Rule 15c3-1. MS&Co. is also required to notify the SEC in th e event that its tentative net capital is less than $ 5 billion. At September 30, 2015 and December 31, 2014, MS&Co. had tentative net capital in excess of the minimum and the notification requirements. Morgan Stanley Smith Barney LLC (“MSSB LLC”) is a registered broker- dealer and introducing broker for the futures business and, accordingly, is subject to the minimum net capital requirements of the SEC and the CFTC . MSSB LLC has consistently operated with capital in excess of its regulatory capital requirements. MSSB LLC’s net capit al totaled $ 4,452 million and $ 4,620 million at September 30, 2015 and December 31, 2014 , respectively, which exceeded the amount required by $ 4,295 million and $ 4,460 million, respectively. Morgan Stanley & Co. International plc (“MSIP”), a London- based broker-dealer subsidiary, is subject to the capital requirements of the Prudential Regulation Authority, and Morgan Stanley MUFG Securities Co., Ltd. (“MSMS”), a Tokyo-based broker-dealer subsidiary, is subject to the capital requirements of the Fina ncial Services Agency. MSIP and MSMS have consistently operated with capital in excess of their respective regulatory capital requirements. Other Regulated Subsidiaries. Certain other U.S. and non-U.S. subsidiaries of the Company are subject to var ious 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 consistently operated with capital in excess of t heir local capital adequacy requirements. Morgan Stanley Derivative Products Inc. (“MSDP”), a derivative products subsidiary rated A 1 by Moody’s and AA - by S&P, maintains certain operating restrictions that have been reviewed by Moody’s and S&P. MSDP is operated such that creditors of the Company should not expect to have any claims on the assets of MSDP, unless and until the obligations to its own creditors are satisfied in full. Creditors of MSDP should not expect to have any claims on the assets of th e Company or any of its affiliates, other tha n the respective assets of MSDP .

Total Equity

Total Equity	9 Months Ended
	Sep. 30, 2015
Total Equity
Total Equity	14. Total Equit y. Dividends and Share Repurchases. In March 2015, the Company received no objection from the Board of Governors of the Federal Reserve System (the “ Federal Reserve ”) to its 2015 capital plan. The capital plan included a share repurchase of up to $ 3.1 billion of the Company’s outstanding common stock that began in the second quarter of 2015 through the end of the second quarter of 2016. Additionally, the capital plan i ncluded an increase in the Company’s quarterly common stock dividend to $ 0.15 per share from $ 0.10 per share that began with the dividend declared on April 20, 2015. During the quarter and nine months ended September 30, 2015 , the Company repurchased approxi mately $ 625 million and $ 1,500 million, respectively. During the quarter and nine months ended September 30, 2014 , the Company repurchased approximately $ 195 million and $ 629 million, respectively, of the Company’s outstanding common stock as part of its s hare repurchase program. Pursuant to the share repurchase program, the Company considers, among other things, business segment capital needs as well as equity-based compensation and benefit plan requirements. Share repurchases under the Company’s program will be exercised from time to time at prices the Company deems appropriate subject to various factors, including the Company’s capital position and market conditions. The share repurchases may be effected through open m arket purchases or privately negoti ated transactions, including through Rule 10b5-1 plans, and may be suspended at any time. Share repurchases by the Company are subject to regulatory approval. Preferred Stock. Series J Preferred Stock. On March 1 9 , 2015, the Company issued 1,500,000 Depositary Shares, for an aggregate price of $1,500 million. Each Depositary Share represents a 1/25th interest in a share of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J, $0.01 par value (“Series J Preferred Stock”). The Seri es J Preferred Stock is redeemable at the Company’s option, ( i ) in whole or in part, from time to time, on any dividend payment date on or after July 15, 2020 or (ii) in whole but not in part at any time within 90 days following a regulatory capital treatm ent event (as described in the terms of that series), in each case at a redemption price of $25,000 per share (equivalent to $1,000 per Depositary Share), plus any declared and unpaid dividends up to, but excluding, the date fixed for redemption, without a ccumulation of any undeclared dividends. The Series J Preferred Stock also has a preference over the Company’s common stock upon liquidation. The Series J Preferred Stock offering (net of related issuance costs) resulted in proceeds of approximately $1,493 million. For a description of Series A through Series I preferred stock issuances, see Note 15 to the consolidated financial statements in the 2014 Form 10-K. The Company is authorized to issue 30 million shares of preferred stock. At September 30, 201 5 and December 31, 2014, the Company’s preferred stock outstanding consisted of the following (dollars in millions, except per share data): Shares Outstanding at September 30, 2015 Liquidation Preference per Share Carrying Value Series At September 30, 2015 At December 31, 2014 A 44,000 $ 25,000 $ 1,100 $ 1,100 C 519,882 1,000 408 408 E 34,500 25,000 862 862 F 34,000 25,000 850 850 G 20,000 25,000 500 500 H 52,000 25,000 1,300 1,300 I 40,000 25,000 1,000 1,000 J 60,000 25,000 1,500 — Total $ 7,520 $ 6,020 The Company’s preferred stock qualifies as Tier 1 capital in accordance with regulatory capital requirements (see Note 13 ). During the quarters ended September 30, 2015 and 2014 , dividends declared on the Company’s out standing preferred stock were $ 78 million and $ 62 million, respectively. During the nine months ended September 30, 2015 and 2014 , dividends declared on the Company’s outstanding preferred stock were $ 297 million and $ 192 million, respectively. Accumulated Other Comprehensive Income (Loss). The following tables present changes in AOCI by component, net of noncontrolling interests, during the quarters ended September 30, 2015 and 2014 : Foreign Currency Translation Adjustments Change in Net Unrealized Gains (Losses) on AFS Securities Pensions, Postretirement and Other Total (dollars in millions) Balance at June 30, 2015 $ (833) $ (101) $ (513) $ (1,447) Other comprehensive income (loss) before reclassifications (76) 111 2 37 Amounts reclassified from AOCI — (11) 2 (9) Net other comprehensive income (loss) during the period (76) 100 4 28 Balance at September 30, 2015 $ (909) $ (1) $ (509) $ (1,419) Balance at June 30, 2014 $ (150) $ (46) $ (537) $ (733) Other comprehensive income (loss) before reclassifications (265) (90) (18) (373) Amounts reclassified from AOCI — (12) 3 (9) Net other comprehensive income (loss) during the period (265) (102) (15) (382) Balance at September 30, 2014 $ (415) $ (148) $ (552) $ (1,115) The Company had no significant reclassifications out of AOCI during the quarters ended September 30, 2015 and 2014 . The following table presents changes in AOCI by component, net of noncontrolling interests, during the nine months ended September 30, 2015 and 2014 : Foreign Currency Translation Adjustments Change in Net Unrealized Gains (Losses) on AFS Securities Pensions, Postretirement and Other Total (dollars in millions) Balance at December 31, 2014 $ (663) $ (73) $ (512) $ (1,248) Other comprehensive income (loss) before reclassifications (246) 118 (2) (130) Amounts reclassified from AOCI — (46) 5 (41) Net other comprehensive income (loss) during the period (246) 72 3 (171) Balance at September 30, 2015 $ (909) $ (1) $ (509) $ (1,419) Balance at December 31, 2013 $ (266) $ (282) $ (545) $ (1,093) Other comprehensive income (loss) before reclassifications (149) 156 (16) (9) Amounts reclassified from AOCI — (22) 9 (13) Net other comprehensive income (loss) during the period (149) 134 (7) (22) Balance at September 30, 2014 $ (415) $ (148) $ (552) $ (1,115) The Company had no significant reclassifications out of AOCI during the nine months ended September 30, 2015 and 2014 . Nonredeemable Noncontrolling Interests. Nonredeemable noncontrolling interests were $ 1,133 million and $ 1,204 million at September 30, 2015 and December 31, 2014 , respectively. The reduction in nonredeemable noncontrolling interests was primarily due to the deconsolidation of certain legal entities associated with real estate funds sponsored by the Company in the second quarters of 2015 and 2014.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share
Earnings Per Common Share	15. Earnings per Common Share. Basic earnings per common share (“EPS”) is computed by dividing earnings applicable to Morgan Stanley common shareholders by the weighted average number of common shares outstanding for the period. Common shares outstanding include common stock and vested restricted stock units (“ RSUs”) where recipients have satisfied either the explicit vesting terms or retirement eligibility requirements. Diluted EPS reflects the assumed conversion of all dilutive securities. The Company calculates EPS using the two-class method, which allocates a portion of the Company’s earnings to instruments granted in share-based payment transactions that are considered participating securities (see Note 2 to the consolidated financial statements in the 2014 Form 10-K). The following table presents the calculation of basic and diluted EPS (in millions, except for pe r share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic EPS: Income from continuing operations $ 1,051 $ 1,757 $ 5,352 $ 5,259 Income (loss) from discontinued operations (2) (5) (9) (6) Net income 1,049 1,752 5,343 5,253 Net income applicable to nonredeemable noncontrolling interests 31 59 124 156 Net income applicable to Morgan Stanley 1,018 1,693 5,219 5,097 Less: Preferred dividends (78) (62) (297) (192) Less: Allocation of (earnings) loss to participating RSUs(1): From continuing operations (1) (2) (4) (7) Earnings applicable to Morgan Stanley common shareholders $ 939 $ 1,629 $ 4,918 $ 4,898 Weighted average common shares outstanding 1,904 1,923 1,916 1,925 Earnings per basic common share: Income from continuing operations $ 0.49 $ 0.85 $ 2.57 $ 2.55 Income (loss) from discontinued operations — — — (0.01) Earnings per basic common share $ 0.49 $ 0.85 $ 2.57 $ 2.54 Diluted EPS: Earnings applicable to Morgan Stanley common shareholders $ 939 $ 1,629 $ 4,918 $ 4,898 Weighted average common shares outstanding 1,904 1,923 1,916 1,925 Effect of dilutive securities: Stock options and RSUs(1) 45 48 42 45 Weighted average common shares outstanding and common stock equivalents 1,949 1,971 1,958 1,970 Earnings per diluted common share: Income from continuing operations $ 0.48 $ 0.83 $ 2.52 $ 2.49 Income (loss) from discontinued operations — — (0.01) — Earnings per diluted common share $ 0.48 $ 0.83 $ 2.51 $ 2.49 _____________ ( 1 ) RSUs that are considered participating securities participate in all of the earnings of the Company in the computation of basic EPS, and , therefore, such RSUs are not included as incremental shares in the dilute d calculation. The following securities were considered antidilutive and, therefore, were excluded from the computation of diluted EPS: Three Months Ended Nine Months Ended September 30, September 30, Number of Antidilutive Securities Outstanding at End of Period: 2015 2014 2015 2014 (shares in millions) Stock options 11 13 11 13 RSUs and performance-based stock units 1 2 1 2 Total 12 15 12 15

Interest Income and Interest Ex

Interest Income and Interest Expense	9 Months Ended
	Sep. 30, 2015
Interest Income And Interest Expense
Interest Income And Interest Expense	16. Interest Income and Interest Expense. Details of Interest income a nd Interest expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Interest income(1): Trading assets(2) $ 568 $ 508 $ 1,707 $ 1,520 Investment securities 211 162 650 449 Loans 560 474 1,573 1,220 Interest bearing deposits with banks 29 22 74 81 Securities purchased under agreements to resell and Securities borrowed(3) (99) (103) (404) (239) Customer receivables and Other(4) 182 321 721 946 Total interest income $ 1,451 $ 1,384 $ 4,321 $ 3,977 Interest expense(1): Deposits $ 17 $ 12 $ 51 $ 44 Short-term borrowings 7 1 16 3 Long-term borrowings 908 865 2,749 2,730 Securities sold under agreements to repurchase and Securities loaned(5) 254 301 797 930 Customer payables and Other(6) (497) (352) (1,348) (862) Total interest expense $ 689 $ 827 $ 2,265 $ 2,845 Net interest $ 762 $ 557 $ 2,056 $ 1,132 _____________ (1) Interest income and expense are recorded within the Company’s condensed consolidated statements of income depending on the nature of the instrument and related market conventions. When interest is 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. (2) Interest expense on Trading liabilities is reported as a reduction to Interest income on Trading assets. (3) Includes fees paid on Securities borrowed. (4) Includes interest from Customer receivables and Other interest earning assets. (5) Includes fees received on Securities loaned. (6) Includes fees received from prime brokerage custo mers for stock loan transactions incurred to cover customers’ short positions.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2015
Employee Benefit Plans
Employee Benefit Plans	17. Employee Benefit Plans. The Company sponsors various pension plans for the majority of its U.S. and non-U.S. employees. The Company provides certain other postretirement benefits, primarily health care and life insurance, to eligible U.S. employees. The Company also provides certain postemployment benefits to certain former employees or inactive employees prior to retirement. The components of the Company’s net periodic benefit expense for its pension and postretirement plans were as fol lows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (dollars in millions) Service cost, benefits earned during the period $ 5 $ 6 $ 15 $ 18 Interest cost on projected benefit obligation 39 40 116 120 Expected return on plan assets (30) (27) (89) (82) Net amortization of prior service cost (credit) (4) (3) (14) (9) Net amortization of actuarial loss 6 6 19 18 Curtailment loss — 3 — 3 Net periodic benefit expense $ 16 $ 25 $ 47 $ 68

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes
Income Taxes	18. Income Taxes. The Company is under continuous examination by the Internal Revenue Service (the “IRS”) and other tax authorities in certain countries, such as Japan and the United Kingdom (“U.K.”), and in states in which the Company has significant business operations, such as New York. The Company is currently at various levels of field examination with respect to audits by the IRS, as well as New York State and New York City, for tax years 2009–2012 and 2007–2009, respectively. The IRS has substantially completed the field examination for the audit of tax years 2006–2008. The Company believes that the resolution of these tax matters will not have a material effect on the Company’s condensed consolidated statements of financial condition, although a resolution could have a material impact on the Company’s condensed consolidated statements of income for a particular future period and on the effective tax rate for any period in which such resolution occurs. During the third quarter of 2015, the IRS completed an Appeals Office review of matters from tax years 1999-2005 and submitted a final report to the Congressional Joint Committee on Taxation for approval. The Company has reserved the right to contest certain items, the re solution of which is not expec ted to have a material impact on the effective tax rate or the Company’s condensed consolidated financial statements. During 2016, the Company expects to reach a conclusion with the U.K. tax authorities on substantially all i ssues through tax year 2010, the resolution of which is not expected to have a material impact on the effective tax rate or the Company’s condensed consolidated financial statements. The Company has established a liability for unrecognized tax benefits th at the Company believes is adequate in relation to the potential for additional assessments. Once established, the Company adjusts unrecognized tax benefits only when more information is available or when an event occurs necessitating a change. It is reas onably possible that significant changes in the gross balance of unrecognized tax benefits may occur within the next 12 months related to certain tax authority examinations referred to above. At this time, however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and impact on the Company’s effective tax rate over the next 12 months. The Company’s effective tax rate from contin uing operations for the nine months ended September 30, 2015 included a net discre te tax benefit of $ 564 million. This net discrete tax benefit was primarily associated with the repatriation of non-U.S. earnings at a cost lower than originally estimated due to an internal restructuring to simplify the Company’s legal entity o rganization in the U.K. The Company’s effective tax rate from continuing operations for the quarter and nine months ended September 30, 2014 included a net discrete tax benefit of $ 237 million primarily associated with the repatriation of non-U.S. earnin gs at a cost lower than originally estimated. Additionally, the Company’s effective tax rate from continuing operations for the nine months ended September 30, 2014 included a net discrete tax benefit of $ 609 million principally associated with remeasurement of reserves and related interest due to new information regarding the status of the IRS field examination referred to above.

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting
Segment And Geographic Information	19 . Segment and Geographic Information . Segment Information. For a discussion about the Company’s business segments, see Note 21 to the consolidated financial statements in the 2014 Form 10-K. Selected financial information for the Company’s business segments is presented below: Three Months Ended September 30, 2015 Institutional Securities Wealth Management Investment Management Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(2) $ 3,889 $ 2,889 $ 278 $ (51) $ 7,005 Interest income 825 777 — (151) 1,451 Interest expense 810 26 4 (151) 689 Net interest 15 751 (4) — 762 Net revenues $ 3,904 $ 3,640 $ 274 $ (51) $ 7,767 Income (loss) from continuing operations before income taxes $ 688 $ 824 $ (38) $ — $ 1,474 Provision for (benefit from) income taxes 141 315 (33) — 423 Income (loss) from continuing operations 547 509 (5) — 1,051 Discontinued operations: Income (loss) from discontinued operations before income taxes (5) — 1 — (4) Provision for (benefit from) income taxes (2) — — — (2) Income (loss) from discontinued operations (3) — 1 — (2) Net income (loss) 544 509 (4) — 1,049 Net income applicable to nonredeemable noncontrolling interests 26 — 5 — 31 Net income (loss) applicable to Morgan Stanley $ 518 $ 509 $ (9) $ — $ 1,018 Three Months Ended September 30, 2014 Institutional Securities Wealth Management(3) Investment Management(3) Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(4)(5) $ 4,560 $ 3,174 $ 668 $ (52) $ 8,350 Interest income 859 649 — (124) 1,384 Interest expense 903 50 1 (127) 827 Net interest (44) 599 (1) 3 557 Net revenues $ 4,516 $ 3,773 $ 667 $ (49) $ 8,907 Income from continuing operations before income taxes $ 1,227 $ 800 $ 193 $ — $ 2,220 Provision for income taxes(6) 89 321 53 — 463 Income from continuing operations 1,138 479 140 — 1,757 Discontinued operations: Income (loss) from discontinued operations before income taxes (9) — 1 — (8) Provision for (benefit from) income taxes (3) — — — (3) Income (loss) from discontinued operations (6) — 1 — (5) Net income 1,132 479 141 — 1,752 Net income applicable to nonredeemable noncontrolling interests 41 — 18 — 59 Net income applicable to Morgan Stanley $ 1,091 $ 479 $ 123 $ — $ 1,693 Nine Months Ended September 30, 2015 Institutional Securities Wealth Management Investment Management Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(2) $ 14,640 $ 9,172 $ 1,709 $ (160) $ 25,361 Interest income 2,418 2,296 1 (394) 4,321 Interest expense 2,524 119 16 (394) 2,265 Net interest (106) 2,177 (15) — 2,056 Net revenues $ 14,534 $ 11,349 $ 1,694 $ (160) $ 27,417 Income from continuing operations before income taxes $ 4,123 $ 2,564 $ 369 $ — $ 7,056 Provision for income taxes(6) 658 959 87 — 1,704 Income from continuing operations 3,465 1,605 282 — 5,352 Discontinued operations: Income (loss) from discontinued operations before income taxes (14) — 1 — (13) Provision for (benefit from) income taxes (4) — — — (4) Income (loss) from discontinued operations (10) — 1 — (9) Net income 3,455 1,605 283 — 5,343 Net income applicable to nonredeemable noncontrolling interests 100 — 24 — 124 Net income applicable to Morgan Stanley $ 3,355 $ 1,605 $ 259 $ — $ 5,219 Nine Months Ended September 30, 2014 Institutional Securities Wealth Management(3) Investment Management(3) Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(4)(5) $ 14,016 $ 9,370 $ 2,136 $ (143) $ 25,379 Interest income 2,498 1,846 2 (369) 3,977 Interest expense 3,073 132 14 (374) 2,845 Net interest (575) 1,714 (12) 5 1,132 Net revenues $ 13,441 $ 11,084 $ 2,124 $ (138) $ 26,511 Income from continuing operations before income taxes $ 3,603 $ 2,249 $ 670 $ — $ 6,522 Provision for income taxes(6) 171 882 210 — 1,263 Income from continuing operations 3,432 1,367 460 — 5,259 Discontinued operations: Income (loss) from discontinued operations before income taxes (18) — 7 — (11) Provision for (benefit from) income taxes (7) — 2 — (5) Income (loss) from discontinued operations (11) — 5 — (6) Net income 3,421 1,367 465 — 5,253 Net income applicable to nonredeemable noncontrolling interests 77 — 79 — 156 Net income applicable to Morgan Stanley $ 3,344 $ 1,367 $ 386 $ — $ 5,097 In certain management fee arrangements, the Company is entitled to receive performance-based fees (also referred to as incentive fees) when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fee revenue is accrued (or reversed) quarterly based on measuring account fund performance to date versus the performance benchmark stated in the investment management agreement. The Company’s portion of unrealized cumulative per formance-based fee revenue at risk of reversing if fund performance falls below stated investment management agreement benchmarks was approximately $ 456 million at September 30, 2015 and approximately $ 634 million at December 31, 201 4 (see Note 2 to the Company’s consolidated financial statements in the 2014 Form 10-K ). See also Note 11 for information regarding general partner guarantees which include potential obligations to return performance fee distributions previously received. During the qu arter and nine months ended September 30, 2015, Other revenues included losses within the Company’s Institutional Securities business segment as a result of write-downs on loans and lending commitments held for sale , which were partially offset by gains on the sales of investment securities within the Company’s Wealth Management business segment . (3) On October 1, 2014, the Managed Futures business was transferred from the Company’s Wealth Management business segment to the Company’s Investment Management b usiness segment. All prior-period amounts have been recast to conform to the current year’s presentation. (4) In September 2014, the Company sold a retail property space resulting in a gain on sale of $ 141 million (within Institutional Securities $ 84 milli on, Wealth Management $ 40 million and Investment Management $ 17 million), which was included within Other revenues on the condensed consolidated statement of income. (5) On July 1, 2014, the Company completed the sale of its ownership stake in TransMontaigne. The gain on sale, which was included in continuing operations, was approximately $ 101 million (within the Company’s Institutional Securities business segment) for the quarter and nine months ended September 30, 2014. (6 ) The Company’s effective tax rate from continuing operations fo r the nine months ended September 30, 2015 include d a net discrete tax benefit of $ 564 million (within the Company’s Institutional Securities business segment). The Company’s effective tax rate from continuing operations for the quarter and nine months ended September 30, 2014 included a net discrete tax benefit of $ 237 million and $ 846 million , respectively (primarily within the Company’s Institutional Securities business segment) (see Note 18) . Total Assets(1) Institutional Securities Wealth Management Investment Management Total (dollars in millions) At September 30, 2015 $ 658,867 $ 170,295 $ 4,951 $ 834,113 At December 31, 2014 $ 630,341 $ 165,147 $ 6,022 $ 801,510 (1) Corporate assets have been fully allocated to the Company’s business segments. Geographic Information. For a discussion about the Company’s geographic net revenues, see Note 21 to the consolidated financial statements in the 2014 Form 10-K. Three Months Ended Nine Months Ended September 30, September 30, Net Revenues 2015 2014 2015 2014 (dollars in millions) Americas $ 5,652 $ 6,308 $ 19,359 $ 19,022 EMEA 1,198 1,271 4,396 4,191 Asia-Pacific 917 1,328 3,662 3,298 Net revenues $ 7,767 $ 8,907 $ 27,417 $ 26,511

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events
Subsequent Events	20 . Subsequent Events. The Company has evaluated subsequent events for adjustment to or disclosure in its condensed consolidated financial statements through the date of this report, and has not identified any recordable or disclosable events, not otherwise reported in these condensed consolidated financial statements or the notes thereto, except for the following: Global Oil Merchanting Business. The Company closed the sale of its global oil merchanting unit of the commodities di vision to Castleton Commodities International LLC on November 1, 2015. Common Stock Dividend. On October 19, 2015, the Company announced that its Board of Directors declared a quarterly dividend per common share of $0.15. The dividend is payable on November 13, 2015 to common shareholders of record on October 30, 2015 (see Note 14 ). Long-Term Borrowings. Subsequent to September 3 0 , 201 5 and through October 30 , 201 5 , the Company’s long-term borrowings decreased by approximately $2. 3 billion , net of issuances.

Significant Accounting Polici28

Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Goodwill and Intangible Assets	Goodwill. The Company completed its annual goodwill impairment testing at July 1, 2015. The Company’s impairme nt testing did not indicate any goodwill impairment, as each of the Company’s reporting units with goodwill had a fair value that was substantially in excess of its carrying value. However, adverse market or economic events could result in impairment charg es in future periods.
Accounting Standards Adopted	Accounting Standards Adopted. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the Financi al Accounting Standards Board (the “FASB”) issued an accounting update requiring repurchase-to-maturity transactions be accounted for as secured borrowings consistent with the accounting for other repurchase agreements. This accounting update also requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty (a repurchase financing), which will result in secured borrowing accounting for the repurchase agreement. This guidan ce became effective for the Company beginning January 1, 2015. In addition, new disclosures are required for sales of financial assets where the Company retains substantially all the exposure throughout the term and for the collateral pledged and remaining maturity of repurchase and securities lending agreements, which were effective January 1, 2015, and April 1, 2015, respectively. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. For further information on the adoption of this guidance, see Notes 6 and 12. Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). In May 2015, the FASB issued an accounting update that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured at net asset value (“NAV”) per share, or its equivalent using the practical expedient . The Company adopted this guidance retrospecti vely during the second quarter of 2015, as early adoption is permitted. For further information on the adoption of this guidance, see Note 3.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures
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, 2015. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at September 30, 2015 (dollars in millions) Assets at Fair Value Trading assets: U.S. government and agency securities: U.S. Treasury securities $ 18,359 $ — $ — $ — $ 18,359 U.S. agency securities 1,328 18,690 — — 20,018 Total U.S. government and agency securities 19,687 18,690 — — 38,377 Other sovereign government obligations 19,597 7,493 11 — 27,101 Corporate and other debt: State and municipal securities — 1,954 33 — 1,987 Residential mortgage-backed securities — 1,746 404 — 2,150 Commercial mortgage-backed securities — 1,868 79 — 1,947 Asset-backed securities — 771 31 — 802 Corporate bonds — 13,207 226 — 13,433 Collateralized debt and loan obligations — 187 545 — 732 Loans and lending commitments — 6,170 5,164 — 11,334 Other debt — 1,714 530 — 2,244 Total corporate and other debt — 27,617 7,012 — 34,629 Corporate equities(1) 96,023 491 575 — 97,089 Derivative and other contracts: Interest rate contracts 860 368,503 2,160 — 371,523 Credit contracts — 23,844 937 — 24,781 Foreign exchange contracts 102 70,801 347 — 71,250 Equity contracts 876 49,833 951 — 51,660 Commodity contracts 3,392 14,646 3,203 — 21,241 Other — 364 — — 364 Netting(2) (4,652) (437,820) (3,981) (61,072) (507,525) Total derivative and other contracts 578 90,171 3,617 (61,072) 33,294 Investments: Investments measured at NAV(3) 4,278 Principal investments 23 97 541 — 661 Other 149 204 312 — 665 Total investments 172 301 853 — 5,604 Physical commodities — 1,717 — — 1,717 Total trading assets 136,057 146,480 12,068 (61,072) 237,811 AFS securities 27,765 33,394 — — 61,159 Securities received as collateral 9,455 — 1 — 9,456 Securities purchased under agreements to resell — 809 — — 809 Intangible assets(4) — — 5 — 5 Total assets measured at fair value $ 173,277 $ 180,683 $ 12,074 $ (61,072) $ 309,240 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at September 30, 2015 (dollars in millions) Liabilities at Fair Value Short-term borrowings $ — $ 1,699 $ 69 $ — $ 1,768 Trading liabilities: U.S. government and agency securities: U.S. Treasury securities 14,524 — — — 14,524 U.S. agency securities 1,026 135 — — 1,161 Total U.S. government and agency securities 15,550 135 — — 15,685 Other sovereign government obligations 13,611 2,379 — — 15,990 Corporate and other debt: State and municipal securities — 3 — — 3 Corporate bonds — 6,783 19 — 6,802 Lending commitments — 2 — — 2 Other debt — 7 4 — 11 Total corporate and other debt — 6,795 23 — 6,818 Corporate equities(1) 50,017 1,145 97 — 51,259 Derivative and other contracts: Interest rate contracts 780 346,806 2,071 — 349,657 Credit contracts — 22,900 1,742 — 24,642 Foreign exchange contracts 60 72,593 281 — 72,934 Equity contracts 691 53,728 2,992 — 57,411 Commodity contracts 3,845 13,551 1,771 — 19,167 Other — 51 — — 51 Netting(2) (4,652) (437,820) (3,981) (41,636) (488,089) Total derivative and other contracts 724 71,809 4,876 (41,636) 35,773 Total trading liabilities 79,902 82,263 4,996 (41,636) 125,525 Obligation to return securities received as collateral 20,327 — 1 — 20,328 Securities sold under agreements to repurchase — 443 154 — 597 Other secured financings — 3,109 341 — 3,450 Long-term borrowings — 28,925 2,462 — 31,387 Total liabilities measured at fair value $ 100,229 $ 116,439 $ 8,023 $ (41,636) $ 183,055 _____________ AFS—available for sale (1) For trading purposes, the Company holds or sells short equity securities issued by entities in diverse industries and of varying size. (2) 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 “Counterparty and Cash Collateral Netting.” For contracts with the same counterparty, counterparty netting among positions classified within the same level is included within that shared level. For further information on derivative instruments and hedging activities, see Note 4. (3) Certain investments that are measured at fai r value using the NAV per share, or its equivalent , are not classi fied in the fair value hierarchy. For additional disclosure about such investments, see “Fair Value of Investments that are Measured at Net Asset Value” herein. (4) Amount represents mortgage servicing rights (“MSRs”) accounted for at fair value . At December 31, 2014. Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Counterparty and Cash Collateral Netting Balance at December 31, 2014 (dollars in millions) Assets at Fair Value Trading assets: U.S. government and agency securities: U.S. Treasury securities $ 16,961 $ — $ — $ — $ 16,961 U.S. agency securities 850 18,193 — — 19,043 Total U.S. government and agency securities 17,811 18,193 — — 36,004 Other sovereign government obligations 15,149 7,888 41 — 23,078 Corporate and other debt: State and municipal securities — 2,049 — — 2,049 Residential mortgage-backed securities — 1,991 175 — 2,166 Commercial mortgage-backed securities — 1,484 96 — 1,580 Asset-backed securities — 583 76 — 659 Corporate bonds — 15,800 386 — 16,186 Collateralized debt and loan obligations — 741 1,152 — 1,893 Loans and lending commitments — 6,088 5,874 — 11,962 Other debt — 2,167 285 — 2,452 Total corporate and other debt — 30,903 8,044 — 38,947 Corporate equities(1) 112,490 1,357 272 — 114,119 Derivative and other contracts: Interest rate contracts 663 495,026 2,484 — 498,173 Credit contracts — 30,813 1,369 — 32,182 Foreign exchange contracts 83 72,769 249 — 73,101 Equity contracts(2) 571 45,967 1,586 — 48,124 Commodity contracts 4,105 18,042 2,268 — 24,415 Other — 376 — — 376 Netting(3) (4,910) (564,127) (4,220) (66,720) (639,977) Total derivative and other contracts 512 98,866 3,736 (66,720) 36,394 Investments: Investments measured at NAV(4) 5,009 Principal investments 58 3 835 — 896 Other 225 198 323 — 746 Total investments 283 201 1,158 — 6,651 Physical commodities — 1,608 — — 1,608 Total trading assets 146,245 159,016 13,251 (66,720) 256,801 AFS securities 37,200 32,016 — — 69,216 Securities received as collateral 21,265 51 — — 21,316 Securities purchased under agreements to resell — 1,113 — — 1,113 Intangible assets(5) — — 6 — 6 Total assets measured at fair value $ 204,710 $ 192,196 $ 13,257 $ (66,720) $ 348,452 Liabilities at Fair Value Short-term borrowings $ — $ 1,765 $ — $ — $ 1,765 Trading liabilities: U.S. government and agency securities: U.S. Treasury securities 14,199 — — — 14,199 U.S. agency securities 1,274 85 — — 1,359 Total U.S. government and agency securities 15,473 85 — — 15,558 Other sovereign government obligations 11,653 2,109 — — 13,762 Corporate and other debt: State and municipal securities — 1 — — 1 Corporate bonds — 5,943 78 — 6,021 Lending commitments — 10 5 — 15 Other debt — 63 38 — 101 Total corporate and other debt — 6,017 121 — 6,138 Corporate equities(1) 31,340 326 45 — 31,711 Derivative and other contracts: Interest rate contracts 602 469,319 2,657 — 472,578 Credit contracts — 29,997 2,112 — 32,109 Foreign exchange contracts 21 72,233 98 — 72,352 Equity contracts(2) 416 51,405 3,751 — 55,572 Commodity contracts 4,817 15,584 1,122 — 21,523 Other — 172 — — 172 Netting(3) (4,910) (564,127) (4,220) (40,837) (614,094) Total derivative and other contracts 946 74,583 5,520 (40,837) 40,212 Total trading liabilities 59,412 83,120 5,686 (40,837) 107,381 Obligation to return securities received as collateral 25,629 56 — — 25,685 Securities sold under agreements to repurchase — 459 153 — 612 Other secured financings — 4,355 149 — 4,504 Long-term borrowings — 29,840 1,934 — 31,774 Total liabilities measured at fair value $ 85,041 $ 119,595 $ 7,922 $ (40,837) $ 171,721 _____________ (1 ) For trading purposes, the Company holds or sells short equity securities issued by entities in diverse industries and of varying size. (2) The balance of Level 3 asset derivative equity contracts increased by $ 57 million with a corresponding decrease in the balance of Level 2 asset derivative equity contracts, and the balance of Level 3 liability derivative equity contracts increased by $ 842 million with a corresponding decrease in the balance of Level 2 liability derivative equity contracts to correct the fair value level assigned to these contracts at December 31, 2014. The total amount of asset and liability derivative equity contracts remained unchanged. (3) 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 “Counterparty and Cash Collateral Netting.” For contracts with the same counterparty, counterparty netting among positions classified within the same level is included within that shared level. For further information on derivative instruments and hedging activities, see Note 4. (4) Certain investments that are measured at fair value using the NAV per share, or its equ ivalent , are not classified in the fair value hierarchy. For additional disclosure about such investments, see “Fair Value of Investments that are Measured at Net Asset Value” herein. (5) Amount represents MSRs accounted for at fair value.
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	Three Months Ended September 30, 2015. Beginning Balance at June 30, 2015 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2015 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2015(3) (dollars in millions) Assets at Fair Value Trading assets: U.S. agency securities $ 3 $ — $ — $ — $ — $ — $ (3) $ — $ — Other sovereign government obligations 12 — 5 (4) — — (2) 11 — Corporate and other debt: State and municipal securities 7 5 12 (5) — — 14 33 5 Residential mortgage-backed securities 378 3 59 (55) — — 19 404 4 Commercial mortgage-backed securities 84 (12) 17 (6) — — (4) 79 (12) Asset-backed securities 19 — 13 (7) — — 6 31 — Corporate bonds 479 (25) 78 (228) — (50) (28) 226 (6) Collateralized debt and loan obligations 660 (7) 80 (188) — — — 545 (11) Loans and lending commitments 5,512 (78) 939 (156) — (1,229) 176 5,164 (53) Other debt 564 (22) 9 (4) — (1) (16) 530 (23) Total corporate and other debt 7,703 (136) 1,207 (649) — (1,280) 167 7,012 (96) Corporate equities 486 10 150 (80) — — 9 575 4 Net derivative and other contracts(4): Interest rate contracts (236) (137) 12 — (7) 74 383 89 (66) Credit contracts (989) 210 — — (74) 86 (38) (805) 219 Foreign exchange contracts 446 42 3 — — (327) (98) 66 45 Equity contracts (2,102) 309 16 — (50) (187) (27) (2,041) 296 Commodity contracts 1,205 238 — — — (11) — 1,432 179 Total net derivative and other contracts (1,676) 662 31 — (131) (365) 220 (1,259) 673 Investments: Principal investments 581 26 8 (50) — — (24) 541 26 Other 300 11 1 — — — — 312 11 Securities received as collateral 3 — — (2) — — — 1 — Intangible assets 6 (1) — — — — — 5 (1) Liabilities at Fair Value Short-term borrowings $ — $ (2) $ — $ — $ 4 $ — $ 63 $ 69 $ (2) Trading liabilities: Corporate and other debt: Corporate bonds 15 9 (10) 23 — — — 19 7 Other debt 4 — — — — — — 4 — Total corporate and other debt 19 9 (10) 23 — — — 23 7 Corporate equities 112 72 (50) 99 — — 8 97 73 Obligation to return securities received as collateral 3 — (2) — — — — 1 — Securities sold under agreements to repurchase 154 — — — — — — 154 — Other secured financings 168 2 — — 187 (12) — 341 2 Long-term borrowings 2,221 61 — — 237 (81) 146 2,462 64 ___________________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the condensed consolidated statements of income except for $ 37 million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the quarter ended September 30, 2015 related to assets and liabilities still outstanding at September 30, 2015 . (4 ) Net derivative and other contracts repres ent Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. Nine Months Ended September 30, 2015. Beginning Balance at December 31, 2014 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2015 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2015(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 41 $ (1) $ 7 $ (31) $ — $ — $ (5) $ 11 $ — Corporate and other debt: State and municipal securities — 5 14 (1) — — 15 33 5 Residential mortgage-backed securities 175 28 172 (57) — — 86 404 19 Commercial mortgage-backed securities 96 (17) 23 (23) — — — 79 (19) Asset-backed securities 76 (1) 22 (31) — — (35) 31 4 Corporate bonds 386 (19) 155 (218) — (53) (25) 226 (16) Collateralized debt and loan obligations 1,152 141 320 (709) — (331) (28) 545 (7) Loans and lending commitments 5,874 (34) 1,860 (95) — (2,461) 20 5,164 (62) Other debt 285 (13) 30 (14) — (25) 267 530 — Total corporate and other debt 8,044 90 2,596 (1,148) — (2,870) 300 7,012 (76) Corporate equities 272 57 437 (199) — — 8 575 67 Net derivative and other contracts(4): Interest rate contracts (173) (37) 16 — (22) 277 28 89 20 Credit contracts (743) (69) 6 — (94) 86 9 (805) (89) Foreign exchange contracts 151 133 4 — (1) (197) (24) 66 133 Equity contracts(5) (2,165) (76) 115 — (279) 252 112 (2,041) (237) Commodity contracts 1,146 345 2 — (112) 111 (60) 1,432 420 Total net derivative and other contracts (1,784) 296 143 — (508) 529 65 (1,259) 247 Investments: Principal investments 835 22 20 (109) — (187) (40) 541 — Other 323 (5) 2 (6) — — (2) 312 — Securities received as collateral — — 1 — — — — 1 — Intangible assets 6 — — — — (1) — 5 — Liabilities at Fair Value Short-term borrowings $ — $ (2) $ — $ — $ 60 $ — $ 7 $ 69 $ (2) Trading liabilities: Corporate and other debt: Corporate bonds 78 6 (25) 37 — — (65) 19 6 Lending commitments 5 5 — — — — — — 5 Other debt 38 — (1) 7 — (39) (1) 4 — Total corporate and other debt 121 11 (26) 44 — (39) (66) 23 11 Corporate equities 45 90 (88) 128 — — 102 97 90 Obligation to return securities received as collateral — — — 1 — — — 1 — Securities sold under agreements to repurchase 153 (1) — — — — — 154 — Other secured financings 149 (5) — — 223 (36) — 341 4 Long-term borrowings 1,934 159 — — 853 (213) 47 2,462 157 ___________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the Company’s condensed consolidated statements of income except for $ 17 million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the nine months ended September 30, 2015 related to assets and liabilities still outstanding at September 30, 2015 . (4 ) Net derivative and other contracts re present Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. (5 ) Net liability Level 3 derivative equity con tracts increased by $ 785 million to correct the fair value level assigned to these contracts at December 31, 2014. The total amount of derivative equity contracts remained unchanged at December 31, 2014. Three Months Ended September 30, 2014. Beginning Balance at June 30, 2014 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2014 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2014(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 14 $ (1) $ — $ (1) $ — $ — $ 1 $ 13 $ (1) Corporate and other debt: State and municipal securities 4 — — — — — (4) — — Residential mortgage-backed securities 55 11 33 (7) — (11) — 81 11 Commercial mortgage-backed securities 47 (1) 1 (3) — — 13 57 (2) Asset-backed securities 65 5 27 (8) — — 22 111 5 Corporate bonds 510 36 99 (148) — — 9 506 38 Collateralized debt obligations 1,332 8 299 (362) — (6) — 1,271 6 Loans and lending commitments 5,829 (20) 2,138 (676) — (721) 957 7,507 (24) Other debt 22 — 135 (3) — — 1 155 — Total corporate and other debt 7,864 39 2,732 (1,207) — (738) 998 9,688 34 Corporate equities 243 (2) 30 (41) — — 11 241 7 Net derivative and other contracts(4): Interest rate contracts (109) (15) 7 — (3) (17) 150 13 (22) Credit contracts (710) 209 7 — (64) (108) (16) (682) 140 Foreign exchange contracts 109 (27) 6 (3) — 70 (1) 154 (25) Equity contracts (1,097) (6) 56 — (59) (105) 23 (1,188) (9) Commodity contracts 1,132 73 36 — — (62) (12) 1,167 12 Other (3) (1) — — — 4 — — — Total net derivative and other contracts (678) 233 112 (3) (126) (218) 144 (536) 96 Investments: Principal investments 883 (1) 22 (23) — — 32 913 (1) Other 380 (3) 14 — — — 2 393 (3) Intangible assets 6 — — — — — — 6 — Liabilities at Fair Value Trading liabilities: Other sovereign government obligations $ — $ — $ — $ — $ — $ — $ 2 $ 2 $ — Corporate and other debt: Corporate bonds 14 1 (8) 46 — — (3) 48 1 Lending commitments 12 12 — — — — — — — Other debt 42 5 — — — (2) — 35 5 Total corporate and other debt 68 18 (8) 46 — (2) (3) 83 6 Corporate equities 6 (5) (12) 2 — — 2 3 (4) Securities sold under agreements to repurchase 155 2 — — — — — 153 2 Other secured financings 135 — — — 4 (3) 26 162 — Long-term borrowings 1,779 72 — — 136 (108) 186 1,921 72 ___________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the condensed consolidated statements of income except for $ (4) million related to Trading assets—Investments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the quarter ended September 30, 2014 related to assets and liabilities still outstanding at September 30, 2014 . (4 ) N et derivative and other contracts represent Trading assets—Derivative and other contracts net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4. Nine Months Ended September 30, 2014. Beginning Balance at December 31, 2013 Total Realized and Unrealized Gains (Losses)(1) Purchases (2) Sales Issuances Settlements Net Transfers Ending Balance at September 30, 2014 Unrealized Gains (Losses) for Level 3 Assets/ Liabilities Outstanding at September 30, 2014(3) (dollars in millions) Assets at Fair Value Trading assets: Other sovereign government obligations $ 27 $ (1) $ 7 $ (21) $ — $ — $ 1 $ 13 $ (1) Corporate and other debt: Residential mortgage-backed securities 47 34 30 (9) — (20) (1) 81 29 Commercial mortgage-backed securities 108 11 22 (97) — — 13 57 (3) Asset-backed securities 103 (3) 58 (93) — — 46 111 (3) Corporate bonds 522 107 185 (302) — — (6) 506 84 Collateralized debt and loan obligations 1,468 137 716 (940) — (109) (1) 1,271 45 Loans and lending commitments 5,129 (202) 3,962 (327) — (1,299) 244 7,507 (181) Other debt 27 4 128 (6) — (2) 4 155 3 Total corporate and other debt 7,404 88 5,101 (1,774) — (1,430) 299 9,688 (26) Corporate equities 190 17 83 (47) — — (2) 241 10 Net derivative and other contracts(4): Interest rate contracts 113 (4) 8 — (3) (61) (40) 13 4 Credit contracts (147) (434) 52 — (118) 10 (45) (682) (475) Foreign exchange contracts 68 (6) 6 (1) — 106 (19) 154 (2) Equity contracts (831) (19) 223 (1) (273) (370) 83 (1,188) (66) Commodity contracts 880 177 200 — — (90) — 1,167 99 Other (4) (1) — — — 5 — — — Total net derivative and other contracts 79 (287) 489 (2) (394) (400) (21) (536) (440) Investments: Principal investments 2,160 49 36 (124) — (1,234) 26 913 129 Other 538 (13) 17 (11) — — (138) 393 (6) Intangible assets 8 — — — — (2) — 6 (1) Liabilities at Fair Value Short-term borrowings $ 1 $ — $ — $ — $ — $ (1) $ — $ — $ — Trading liabilities: Other sovereign government obligations — — — — — — 2 2 — Corporate and other debt: Corporate bonds 22 2 (46) 85 — — (11) 48 3 Lending commitments 2 2 — — — — — — — Other debt 48 15 — — — 1 1 35 5 Total corporate and other debt 72 19 (46) 85 — 1 (10) 83 8 Corporate equities 8 (6) (16) 2 — — 3 3 (6) Securities sold under agreements to repurchase 154 1 — — — — — 153 1 Other secured financings 278 (9) — — 21 (188) 42 162 (6) Long-term borrowings 1,887 17 — — 372 (289) (32) 1,921 15 __________ (1 ) Total realized and unrealized gains (losses) are primarily included in Trading revenues in the Company’s condensed consolidated statements of income except for $ 36 million related to Trading assets—I nvestments, which is included in Investments revenues. (2) Loan originations are included in purchases. (3 ) Amounts represent unrealized gains (losses) for the nine months ended September 30, 2014 related to assets and liabilities still outstanding at September 30, 2014 . (4 ) Net derivative and other contracts represent Trading assets—Derivative and other contracts, net of Trading liabilities—Derivative and other contracts. For further information on derivative instruments and hedging activities, see Note 4.
Quantitative Information about and Sensitivity of Significant Unobservable Inputs used in Recurring Level 3 Fair Value Measurements	At September 30, 2015 Balance at September 30, 2015 Valuations Technique(s) / Significant Unobservable Input(s) / Sensitivity of the Fair Value to Changes in the Unobservable Inputs Range(1) Averages(2) (dollars in millions) Assets at Fair Value Trading assets: Corporate and other debt: Residential mortgage-backed securities $ 404 Comparable pricing: Comparable bond price / (A) 0 to 80 points 36 points Commercial mortgage-backed securities 79 Comparable pricing: Comparable bond price / (A) 0 to 9 points 2 points Corporate bonds 226 Comparable pricing: Comparable bond price / (A) 4 to 119 points 83 points Collateralized debt and loan obligations 545 Comparable pricing(3): Comparable bond price / (A) 45 to 103 points 77 points Correlation model: Credit correlation / (B) 35% to 60% 49% Loans and lending commitments 5,164 Corporate loan model: Credit spread / (C) 72 to 831 basis points 544 basis points Margin loan model: Credit spread / (C)(D) 80 to 548 basis points 165 basis points Volatility skew / (C)(D) 14% to 70% 36% Discount rate / (C)(D) 2% to 6% 4% Option model: Volatility skew / (C) -1% -1% Comparable pricing(3): Comparable loan price / (A) 40 to 103 points 89 points Discounted cash flow Implied weighted average cost of capital / (C)(D) 6% to 8% 7% Capitalization rate / (C)(D) 4% to 10% 4% Other debt 530 Comparable pricing: Comparable loan price / (A) 3 to 84 points 65 points Comparable pricing: Comparable bond price / (A) 11 points 11 points Option model: At the money volatility / (A) 16% to 53% 16% Margin loan model(3): Discount rate / (C) 1% to 2% 1% Corporate equities 575 Comparable pricing: Comparable price / (A) 59% to 91% 78% Comparable pricing(3): Comparable equity price / (A) 100% 100% Market approach: EBITDA multiple / (A)(D) 9 times 9 times Price / Book ratio / (A)(D) 0 times 0 times Net derivative and other contracts(4): Interest rate contracts 89 Option model: Interest rate volatility concentration liquidity multiple / (C)(D) 0 to 3 times 2 times Interest rate - Foreign exchange correlation / (C)(D) 26% to 62% 44% / 43% (5) Interest rate volatility skew / (A)(D) 32% to 91% 44% / 43% (5) Interest rate quanto correlation / (A)(D) -8% to 37% 2% / -8% (5) Interest rate curve correlation / (C)(D) 24% to 93% 69% / 75% (5) Inflation volatility / (A)(D) 60% 60% / 60% (5) Interest rate - Inflation correlation / (A)(D) -43% to -41% -43% / -43% (5) Credit contracts (805) Comparable pricing: Cash synthetic basis / (C)(D) 5 to 12 points 9 points Comparable bond price / (C)(D) 0 to 75 points 25 points Correlation model(3): Credit correlation / (B) 34% to 99% 58% Foreign exchange contracts(6) 66 Option model: Interest rate - Foreign exchange correlation / (C)(D) 26% to 62% 44% / 43% (5) Interest rate volatility skew / (A)(D) 32% to 91% 44% / 43% (5) Interest rate curve / (A)(D) 0% to 1% 0% / 0% (5) Interest rate quanto correlation / (A)(D) -8% to 37% 2% / -8% (5) Equity contracts(6) (2,041) Option model: At the money volatility / (A)(D) 16% to 62% 31% Volatility skew / (A)(D) -3% to 0% -1% Equity - Equity correlation / (C)(D) 40% to 99% 72% Equity - Foreign exchange correlation / (A)(D) -50% to 10% -16% Equity - Interest rate correlation / (C)(D) -31% to 50% 14% / 7% (5) Commodity contracts 1,432 Option model: Forward power price / (C)(D) $4 to $91 per $33 per Megawatt hour Megawatt hour Commodity volatility / (A)(D) 10% to 59% 18% Cross commodity correlation / (C)(D) 43% to 100% 93% Investments: Principal investments 541 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 14% 14% Exit multiple / (A)(D) 10 times 10 times Capitalization rate / (C)(D) 5% to 10% 6% Equity discount rate / (C)(D) 18% to 35% 21% Market approach(3): EBITDA multiple / (A)(D) 9 to 19 times 11 times Forward capacity price / (A)(D) $5 to $9 $7 Comparable pricing: Comparable equity price / (A) 75% to 100% 84% Other 312 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 10% 10% Exit multiple / (A)(D) 10 times 10 times Market approach: EBITDA multiple / (A) 8 to 14 times 10 times Comparable pricing(3): Comparable equity price / (A) 100% 100% Liabilities at Fair Value Short-term borrowings $ 69 Comparable pricing: Comparable equity price / (A) 20% 20% Corporate equities 97 Comparable pricing: Comparable equity price / (A) 0% to 100% 80% Securities sold under agreements to repurchase 154 Discounted cash flow: Funding spread / (A) 96 to 123 basis points 113 basis points Other secured financings 341 Comparable pricing: Comparable bond price / (A) 100 points 100 points Discounted cash flow(3): Discount rate / (C) 4% to 17% 5% Discounted cash flow: Funding spread / (A) 108 to 130 basis points 119 basis points Long-term borrowings 2,462 Option model(3): At the money volatility / (C)(D) 22% to 40% 29% Volatility skew / (A)(D) -2% to 0% -1% Equity - Equity correlation / (A)(D) 40% to 97% 78% Equity - Foreign exchange correlation / (C)(D) -70% to 35% -42% Option model: Equity alpha / (A) 25% to 80% 63% Correlation model: Credit correlation / (B) 40% to 60% 44% Comparable pricing: Comparable equity price / (A) 100 % 100% At December 31, 2014. Valuation Technique(s) / Significant Unobservable Input(s) / Balance at Sensitivity of the Fair Value to Changes December 31, 2014 in the Unobservable Inputs Range(1) Averages(2) Assets at Fair Value (dollars in millions) Trading assets: Corporate and other debt: Residential mortgage-backed securities $ 175 Comparable pricing: Comparable bond price / (A) 3 to 90 points 15 points Commercial mortgage-backed securities 96 Comparable pricing: Comparable bond price / (A) 0 to 7 points 1 point Asset-backed securities 76 Comparable pricing: Comparable bond price / (A) 0 to 62 points 23 points Corporate bonds 386 Comparable pricing: Comparable bond price / (A) 1 to 160 points 90 points Collateralized debt and loan obligations 1,152 Comparable pricing(3): Comparable bond price / (A) 20 to 100 points 66 points Correlation model: Credit correlation / (B) 47% to 65% 56% Loans and lending commitments 5,874 Corporate loan model: Credit spread / (C) 36 to 753 basis points 373 basis points Margin loan model: Credit spread / (C)(D) 150 to 451 basis points 216 basis points Volatility skew / (C)(D) 3% to 37% 21% Discount rate / (C)(D) 2% to 3% 3% Option model: Volatility skew / (C) -1% -1% Comparable pricing(3): Comparable loan price / (A) 15 to 105 points 89 points Other debt 285 Comparable pricing(3): Comparable loan price / (A) 0 to 75 points 39 points Comparable pricing: Comparable bond price / (A) 15 points 15 points Option model: At the money volatility / (A) 15% to 54% 15% Corporate equities 272 Net asset value: Discount to net asset value / (C) 0% to 71% 36% Comparable pricing: Comparable price / (A) 83% to 96% 85% Comparable pricing(3): Comparable equity price / (A) 100% 100% Market approach: EBITDA multiple / (A)(D) 6 to 9 times 8 times Price / Book ratio / (A)(D) 0 times 0 times Net derivative and other contracts(4): Interest rate contracts (173) Option model: Interest rate volatility concentration liquidity multiple / (C)(D) 0 to 3 times 2 times Interest rate - Foreign exchange correlation / (A)(D) 28% to 62% 44% / 42%(5) Interest rate volatility skew / (A)(D) 38% to 104% 86% / 60%(5) Interest rate quanto correlation / (A)(D) -9% to 35% 6% / -6%(5) Interest rate curve correlation / (A)(D) 44% to 87% 73% / 80%(5) Inflation volatility / (A)(D) 69% to 71% 70% / 71%(5) Interest rate - Inflation correlation / (A)(D) -44% to -40% -42% / -43%(5) Credit contracts (743) Comparable pricing: Cash synthetic basis / (C)(D) 5 to 13 points 9 points Comparable bond price / (C)(D) 0 to 55 points 18 points Correlation model(3): Credit correlation / (B) 42% to 95% 63% Foreign exchange contracts(6) 151 Option model: Interest rate quanto correlation / (A)(D) -9% to 35% 6% / -6%(5) Interest rate - Credit spread correlation / (A)(D) -54% to -2% -17% / -11%(5) Interest rate curve correlation / (A)(D) 44% to 87% 73% / 80%(5) Interest rate - Foreign exchange correlation / (A)(D) 28% to 62% 44% / 42%(5) Interest rate curve / (A)(D) 0% to 2% 1% / 1%(5) Equity contracts(6)(7) (2,165) Option model: At the money volatility / (A)(D) 14% to 51% 29% Volatility skew / (A)(D) -2% to 0% -1% Equity - Equity correlation / (C)(D) 40% to 99% 72% Equity - Foreign exchange correlation / (C)(D) -50% to 10% -16% Equity - Interest rate correlation / (C)(D) -18% to 81% 26% / 11%(5) Commodity contracts 1,146 Option model: Forward power price / (C)(D) $5 to $106 per $38 per Megawatt hour Megawatt hour Commodity volatility / (A)(D) 11% to 90% 19% Cross commodity correlation / (C)(D) 33% to 100% 93% Investments: Principal investments 835 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 11% 11% Exit multiple / (A)(D) 10 times 10 times Discounted cash flow: Equity discount rate / (C) 25% 25% Market approach(3): EBITDA multiple / (A)(D) 4 to 14 times 10 times Price / Earnings ratio / (A)(D) 23 times 23 times Forward capacity price / (A)(D) $5 to $7 $7 Comparable pricing: Comparable equity price / (A) 64% to 100% 95% Other 323 Discounted cash flow: Implied weighted average cost of capital / (C)(D) 10% to 13% 11% Exit multiple / (A)(D) 6 to 9 times 9 times Market approach: EBITDA multiple / (A)(D) 9 to 13 times 10 times Comparable pricing(3): Comparable equity price / (A) 100% 100% Liabilities at Fair Value Trading liabilities: Corporate and other debt: Corporate bonds $ 78 Option model: Volatility skew / (C)(D) -1% -1% At the money volatility / (C)(D) 10% 10% Securities sold under agreements to repurchase 153 Discounted cash flow: Funding spread / (A) 75 to 91 basis points 86 basis points Other secured financings 149 Comparable pricing: Comparable bond price / (A) 99 to 101 points 100 points Discounted cash flow(3): Funding spread / (A) 82 to 98 basis points 95 basis points Long-term borrowings 1,934 Option model(3): At the money volatility / (C)(D) 18% to 32% 27% Volatility skew / (A)(D) -1% to 0% 0% Equity - Equity correlation / (A)(D) 40% to 90% 68% Equity - Foreign exchange correlation / (C)(D) -73% to 30% -32% Option model: Equity alpha / (A) 0% to 94% 67% Correlation model: Credit correlation / (B) 48% to 65% 51% ________________ EBITDA— Earnings before interest, taxes, depreciation and amortization (1) The ranges of significant unobservable inputs are represented in points, percentages, basis points, times or megawatt hours. Points are a percentage of par; for example, 80 points would be 80 % of par. A basis point equals 1/100th of 1%; for example, 831 basis points would equal 8.31 %. (2) Amounts represent weighted averages except where simple average s and the median of the inputs are provided (see footnote 5 below). Weighted averages are calculated by weighting each input by the fair value of the respective financial instruments except for collateralized debt and loan obligations, principal investment s, other debt, corporate bonds, long-term borrowings and derivative instruments where some or all inputs are weighted by risk. (3) This is the predominant valuation technique for this major asset or liability class. (4) Credit Valuation Adjustment (“CVA”) and Funding Valuation Adjustments (“FVA”) are included in the balance, but excluded from the Valuation Technique(s) and Significant Unobservable Input(s) in the table above. CVA is a Level 3 input when the underlying counterparty credit curve is unobservab le. FVA is a Level 3 input in its entirety given the lack of observability of funding spreads in the principal market. (5) The data structure of the significant unobservable inputs used in valuing interest rate contracts, foreign exchange contracts and cer tain equity contracts may be in a multi-dimensional form, such as a curve or surface, with risk distributed across the structure. Therefore, a simple average and median, together with the range of data inputs, may be more appropriate measurements than a s ingle point weighted average. (6) Includes derivative contracts with multiple risks ( i.e., hybrid products). (7) Net liability Level 3 derivative equity contracts increased by $ 785 million to correct the fair value level assigned to these contracts a t December 31, 2014. This correction did not result in a change to the Valuation Technique ( s ) , Significant Unobservable Inputs, Ranges or Averages. Sensitivity of the fair value to changes in the unobservable inputs: (A) Significant increase (decrease ) in the unobservable input in isolation would result in a significantly higher (lower) fair value measurement. (B) Significant changes in credit correlation may result in a significantly higher or lower fair value measurement. Increasing (decreasing) cor relation drives a redistribution of risk within the capital structure such that junior tranches become less (more) risky and senior tranches become more (less) risky. (C) Significant increase (decrease) in the unobservable input in isolation would result in a significantly lower (higher) fair value measurement. (D) There are no predictable relationships between the significant unobservable inputs.
Fair Value of Investments that Calculate Net Asset Value	At September 30, 2015 At December 31, 2014 Fair Value Commitment Fair Value Commitment (dollars in millions) Private equity funds $ 1,962 $ 597 $ 2,569 $ 613 Real estate funds 1,664 135 1,753 112 Hedge funds(1): Long-short equity hedge funds 447 ─ 433 ─ Fixed income/credit-related hedge funds 73 ─ 76 ─ Event-driven hedge funds 3 ─ 39 ─ Multi-strategy hedge funds 129 4 139 3 Total $ 4,278 $ 736 $ 5,009 $ 728 (1 ) Fixed income/credit-related hedge funds, event-driven hedge funds and multi-strategy hedge funds are redeemable at least on a three-month period basis, primarily with a notice period of 90 days or less . At September 30, 2015 , approximately 32 % of the fair value amount of long-short equity hedge funds was redeemable at least quarterly, 48 % is redeemable every six months and 20 % of these funds have a redemption frequency of greater than six months. At December 31, 2014 , approximately 36 % of the fair value amount of long-short equity hedge funds was redeemable at least quarterly, 47 % is redeemable every six months and 17 % of these funds have a redemption frequency of greater than six months. The notice period for long-short equity hedge funds at September 30, 2015 and December 31, 2014 was primarily greater than six months. At September 30, 2015 Fair Value of the Funds Estimated to be Liquidated Fund Type Less than 5 years 5-10 years Over 10 years Total (dollars in millions) Private equity funds $ 139 $ 1,151 $ 672 $ 1,962 Real estate funds 235 882 547 1,664 At September 30, 2015 Hedge Fund Restrictions Hedge Fund Type Fair Value Lock-up Restrictions Gate Restrictions (dollars in millions) Long-short equity(1)(2) $ 447 1% 12% Fixed income/credit-related(1) 73 13% N/A Event-driven(1) 3 3% N/A Multi-strategy(1)(2) 129 37% 28% N/A—Not Applicable. (1) The remaining restriction period subject to lock-up restrictions was primarily over three years at September 30, 2015. (2) The restriction period for these investments subject to an exit restriction was indefinite at September 30, 2015.
Net Gains (Losses) Due to Changes in Fair Value for Items Measured at Fair Value Pursuant to the Fair Value Option Election	Interest Gains (Losses) Trading Income Included in Revenues (Expense) Net Revenues (dollars in millions) Three Months Ended September 30, 2015 Securities purchased under agreements to resell $ (1) $ 2 $ 1 Short-term borrowings(1) (85) ─ (85) Securities sold under agreements to repurchase ─ (2) (2) Long-term borrowings(1) 1,137 (129) 1,008 Nine Months Ended September 30, 2015 Securities purchased under agreements to resell $ (4) $ 7 $ 3 Short-term borrowings(1) (127) ─ (127) Securities sold under agreements to repurchase 4 (5) (1) Long-term borrowings(1) 2,226 (399) 1,827 Three Months Ended September 30, 2014 Securities purchased under agreements to resell $ (2) $ 2 $ ─ Short-term borrowings(2) 5 2 7 Securities sold under agreements to repurchase 3 (2) 1 Long-term borrowings(2) 1,579 (174) 1,405 Nine Months Ended September 30, 2014 Securities purchased under agreements to resell $ (4) $ 6 $ 2 Short-term borrowings(2) (32) 2 (30) Securities sold under agreements to repurchase (2) (4) (6) Long-term borrowings(2) 631 (520) 111 Of the total gains (losses) recorded in Trading revenues for short-term and long-term borrowings for the quarter and nine months ended September 30, 2015 , $ 435 million and $ 742 million, respectively, are attributable to changes in the credit quality of the Company and other credit factors, and the respective remainder is attributable to changes in foreign currency rates or interest rates or movements in the reference price or index for structured notes before the impact o f related hedges. Of the total gains (losses) recorded in Trading revenues for short-term and long-term borrowings for the quarter and nine months ended September 30, 2014 , $ 215 million and $ 428 million, respectively, are attributable to changes in the credi t quality of the Company and other credit factors, and the respective remainder is attributable to changes in foreign currency rates or interest rates or movements in the reference price or index for structured notes before the impact of related hedges.
Breakdown of Outstanding Short-term and Long-term Borrowings	Short-Term and Long-Term Borrowings Business Unit At September 30, 2015 At December 31, 2014 (dollars in millions) Equity $ 17,054 $ 17,253 Interest rates 13,614 13,545 Credit and foreign exchange 1,947 2,105 Commodities 540 636 Total $ 33,155 $ 33,539
Gains (Losses) Due to Changes in Instrument Specific Credit Risk	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (dollars in millions) Short-term and long-term borrowings(1) $ 435 $ 215 $ 742 $ 428 Loans and other debt(2) (32) 25 39 153 Lending commitments(3) 5 2 13 29 _____________ (1) The change in the fair value of short-term and long-term borrowings (primarily structured notes ) includes an adjustment to reflect the change in credit quality of the Company based upon observations of the Company’s secondary bond market spreads and changes in other credit factors . (2) Loans and other debt instrument-specific credit gains (losses) were determined by excluding the non-credit components of gains and losses, such as those due to changes in interest rates. (3) Gains (losses ) on lending commitments were generally determined based on the differential between estimated expected client yields and contractual yields at each respective period-end.
Net Difference between Contractual Principal Amount and Fair Value	Contractual Principal Amount Exceeds Fair Value At September 30, 2015 At December 31, 2014 (dollars in millions) Loans and other debt(1) $ 14,186 $ 14,990 Loans 90 or more days past due and/or on nonaccrual status(1)(2) 11,798 12,916 Short-term and long-term borrowings(3) 694 (670) _____________ (1) The majority of the difference between principal and fair value amounts for loans and other debt emanates from the Company’s distressed debt trading business, which purchases distressed debt at amounts well below par. (2) The aggregate fair value of loans that were in nonaccrual status, which includes all loans 90 or more days past due, was $ 2,070 million and $ 1,367 million at September 30, 2015 and December 31, 2014 , respectively. The aggregate fair value of loans that were 90 or more days past due was $ 916 million and $ 643 million at September 30, 2015 and December 31, 2014 , respectively. (3) Short-term and long-term borrowings do not include structured notes where the repayment of the i nitial principal amount fluctuates based on changes in the reference price or index.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis	Three Months and Nine Months Ended September 30, 2015 . Fair Value Measurements Using: Quoted Prices Total Total in Active Gains (Losses) Gains (Losses) Carrying Markets for Significant Significant for the for the Value at Identical Observable Unobservable Three Months Ended Nine Months Ended September 30, Assets Inputs Inputs September 30, September 30, 2015(1) (Level 1) (Level 2) (Level 3) 2015(2) 2015(2) (dollars in millions) Assets: Loans(3) $ 5,089 $ ─ $ 3,060 $ 2,029 $ 12 $ (201) Other investments(4) ─ ─ ─ ─ ─ (2) Premises, equipment and software costs(5) ─ ─ ─ ─ (2) (24) Total assets $ 5,089 $ ─ $ 3,060 $ 2,029 $ 10 $ (227) Liabilities: Other liabilities and accrued expenses(3) $ (427) $ ─ $ (365) $ (62) $ (144) $ (171) Total liabilities $ (427) $ ─ $ (365) $ (62) $ (144) $ (171) Three Months and Nine Months Ended September 30, 2014 . Fair Value Measurements Using: Quoted Prices Total Total in Active Gains (Losses) Gains (Losses) Carrying Markets for Significant Significant for the for the Value at Identical Observable Unobservable Three Months Ended Nine Months Ended September 30, Assets Inputs Inputs September 30, September 30, 2014(1) (Level 1) (Level 2) (Level 3) 2014(2) 2014(2) (dollars in millions) Assets: Loans(3) $ 2,672 $ ─ $ 1,996 $ 676 $ (45) $ (55) Other investments(4) 38 ─ ─ 38 (2) (27) Premises, equipment and software costs(5) software costs(5) ─ ─ ─ ─ (27) (43) Intangible assets(4) 20 ─ ─ 20 (4) (6) Other assets(5) ─ ─ ─ ─ ─ (9) Total assets $ 2,730 $ ─ $ 1,996 $ 734 $ (78) $ (140) _____________ (1) Carrying values relate only to those assets that had fair value adjustments during the quarters ended September 30, 2015 and 2014 . (2) Changes in the f air value of Loans and losses related to Other investments are recorded within Other revenues in the Company’s condensed consolidated statements of income. L osses related to Premises, equipment and software costs , Intangible assets and Other assets are recorded within Other expenses if not held for sale and within Other reven ues if held for sale . Losses related to Other liabilities and accrued expenses are recorded within Other revenues and represent non-recurring fair value adjustments for certain lending commitments designated as held for sale. (3) Non-recurring changes in the fair value of loans and lending commitments held for investment or held for sale were calculated using recently executed transactions; market price quotations; valuation models that incorporate market observable inputs where possible, such as comparable l oan or debt prices and credit default swap spread levels adjusted for any basis difference between cash and derivative instruments; or default recovery analysis where such transactions and quotations are unobservable . (4) Losses related to Other in vestments and Intangible assets were determined primarily using discounted cash flow models and methodologies that incorporate multiples of certain comparable companies. (5) Losses related to Premises, equipment and software costs and Other assets were determined primarily using a default recovery analysis.
Financial Instruments Not Measured at Fair Value	At September 30, 2015. At September 30, 2015 Fair Value Measurements Using: Carrying Value Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (dollars in millions) Financial Assets: Cash and due from banks $ 19,244 $ 19,244 $ 19,244 $ — $ — Interest bearing deposits with banks 34,274 34,274 34,274 — — Cash deposited with clearing organizations or segregated under federal and other regulations or requirements 35,552 35,552 35,552 — — Investment securities—HTM securities 3,530 3,528 1,007 2,521 — Securities purchased under agreements to resell 126,397 126,397 — 125,731 666 Securities borrowed 148,245 148,232 — 148,148 84 Customer and other receivables(1) 46,134 46,028 — 41,230 4,798 Loans(2) 78,209 79,026 — 17,317 61,709 Financial Liabilities: Deposits $ 147,226 $ 147,248 $ — $ 147,248 $ — Short-term borrowings 214 214 — 214 — Securities sold under agreements to repurchase 57,973 58,036 — 55,598 2,438 Securities loaned 20,644 20,657 — 20,488 169 Other secured financings 6,721 6,720 — 5,441 1,279 Customer and other payables(1) 190,434 190,434 — 190,434 — Long-term borrowings 128,956 130,826 — 130,747 79 At December 31, 2014 At December 31, 2014 Fair Value Measurements Using: Carrying Value Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (dollars in millions) Financial Assets: Cash and due from banks $ 21,381 $ 21,381 $ 21,381 $ — $ — Interest bearing deposits with banks 25,603 25,603 25,603 — — Cash deposited with clearing organizations or segregated under federal and other regulations or requirements 40,607 40,607 40,607 — — Investment securities—HTM securities 100 100 100 — — Securities purchased under agreements to resell 82,175 82,165 — 81,981 184 Securities borrowed 136,708 136,708 — 136,696 12 Customer and other receivables(1) 45,116 45,028 — 39,945 5,083 Loans(2) 66,577 67,800 — 18,212 49,588 Financial Liabilities: Deposits $ 133,544 $ 133,572 $ — $ 133,572 $ — Short-term borrowings 496 496 — 496 — Securities sold under agreements to repurchase 69,337 69,433 — 63,921 5,512 Securities loaned 25,219 25,244 — 24,740 504 Other secured financings 7,581 7,881 — 5,465 2,416 Customer and other payables(1) 178,373 178,373 — 178,373 — Long-term borrowings 120,998 124,961 — 124,150 811 ___________________ HTM—held to maturity (1) Accrued interest, fees, and dividend receivables and payables where carrying value approximates fair value have been excluded. (2) Amounts include all loans measured at fair value on a non-recurring basis.

Derivative Instruments and He30

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure
Offsetting of Derivative Instruments and Related Collateral Amounts	At September 30, 2015 Gross Amounts(1) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Amounts Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure Financial Instruments Collateral Other Cash Collateral (dollars in millions) Derivative assets Bilateral OTC $ 379,609 $ (351,265) $ 28,344 $ (9,967) $ (8) $ 18,369 Cleared OTC(3) 129,262 (127,987) 1,275 — — 1,275 Exchange traded 31,948 (28,273) 3,675 — — 3,675 Total derivative assets $ 540,819 $ (507,525) $ 33,294 $ (9,967) $ (8) $ 23,319 Derivative liabilities Bilateral OTC $ 361,467 $ (332,549) $ 28,918 $ (6,967) $ — $ 21,951 Cleared OTC(3) 128,153 (127,267) 886 — (2) 884 Exchange traded 34,242 (28,273) 5,969 (735) — 5,234 Total derivative liabilities $ 523,862 $ (488,089) $ 35,773 $ (7,702) $ (2) $ 28,069 At December 31, 2014 Gross Amounts(4) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Amounts Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure Financial Instruments Collateral Other Cash Collateral (dollars in millions) Derivative assets Bilateral OTC $ 427,079 $ (396,582) $ 30,497 $ (9,844) $ (19) $ 20,634 Cleared OTC(3) 217,169 (215,576) 1,593 — — 1,593 Exchange traded 32,123 (27,819) 4,304 — — 4,304 Total derivative assets $ 676,371 $ (639,977) $ 36,394 $ (9,844) $ (19) $ 26,531 Derivative liabilities Bilateral OTC $ 410,003 $ (375,095) $ 34,908 $ (11,192) $ (179) $ 23,537 Cleared OTC(3) 211,695 (211,180) 515 — (6) 509 Exchange traded 32,608 (27,819) 4,789 (726) — 4,063 Total derivative liabilities $ 654,306 $ (614,094) $ 40,212 $ (11,918) $ (185) $ 28,109 (1) Amounts include $ 6.2 billion of derivative assets and $ 6.9 billion of derivative liabilities, which are either not subject to master netting agreements or collateral agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. See also “Fair Value and Notional of Derivative Instruments” herein, for additional disclosure about gross fair values and notionals for derivative instruments by risk type. (2) Amounts relate to master netting a greements and collateral a greements, which have been determined by the Company to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable offsetti ng accounting guidance. (3) Amounts include OTC derivatives that are centrally cleared in accordance with certain regulatory requirements. (4) Amounts include $ 6.5 billion of derivative assets and $ 6.9 billion of derivative liabilities, which are either no t subject to master netting agreements or collateral agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. See also “ Fair Value and Notional of Derivative Instruments ” herein, for addition al disclosure about gross fair values and notionals for derivative instruments by risk type.
Summary by Counterparty Credit Rating and Remaining Contract Maturity of the Fair Value of OTC Derivatives in a Gain Position	OTC Derivative Products—Trading Assets . The tables below pres ent a summary by counterparty credit rating and remaining contract maturity of the fair value of OTC derivatives in a gain position at September 30, 2015 and December 31, 2014 . Fair value is presented in the final column, net of collateral received (pr incipally cash and U.S. government and agency securities): At September 30, 2015(1) Years to Maturity Cross-Maturity and Cash Collateral Netting(3) Net Exposure Post-cash Collateral Net Exposure Post-collateral Credit Rating(2) Less than 1 1 - 3 3 - 5 Over 5 (dollars in millions) AAA $ 260 $ 289 $ 895 $ 4,174 $ (4,514) $ 1,104 $ 924 AA 2,599 2,493 1,848 11,978 (13,432) 5,486 2,887 A 10,807 9,428 5,885 22,520 (38,543) 10,097 6,606 BBB 4,202 4,711 2,414 12,306 (15,682) 7,951 5,654 Non-investment grade 4,502 3,339 1,521 3,755 (8,144) 4,973 3,573 Total $ 22,370 $ 20,260 $ 12,563 $ 54,733 $ (80,315) $ 29,611 $ 19,644 At December 31, 2014(1) Years to Maturity Cross-Maturity and Cash Collateral Netting(3) Net Exposure Post-cash Collateral Net Exposure Post-collateral Credit Rating(2) Less than 1 1-3 3-5 Over 5 (dollars in millions) AAA $ 499 $ 246 $ 1,313 $ 4,281 $ (5,009) $ 1,330 $ 1,035 AA 2,679 2,811 2,704 14,137 (15,415) 6,916 4,719 A 11,733 10,833 7,585 23,968 (43,644) 10,475 6,520 BBB 5,119 3,753 2,592 13,132 (15,844) 8,752 6,035 Non-investment grade 3,196 3,089 1,541 2,499 (5,727) 4,598 3,918 Total $ 23,226 $ 20,732 $ 15,735 $ 58,017 $ (85,639) $ 32,071 $ 22,227 _____________ (1) Fair values shown represent the Company’s net exposure to counterparties related to the Company’s OTC derivative products. Amounts include centrally cleared OTC derivatives. The tables do not include exchange-traded derivatives and the effect of any related hedges utilized by the Company. (2) Obligor credit ratings are determined by the Company’s Credit Risk Management Department. (3) Amounts represent the netting of receivable balances with payable balances for th e same counterparty across maturity categories. Receivable and payable balances with the same counterparty in the same maturity category are netted within such maturity category, where appropriate. Cash collateral received is netted on a counterparty basis , provided legal right of offset exists.
Fair Value of Derivative Instruments Designated and Not Designated as Accounting Hedges by Type of Derivative Contract on a Gross Basis	Derivative Assets at September 30, 2015 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 3,565 $ 1,828 $ — $ 5,393 $ 38,389 $ 43,193 $ — $ 81,582 Foreign exchange contracts 210 5 — 215 6,533 438 — 6,971 Total derivatives designated as accounting hedges 3,775 1,833 — 5,608 44,922 43,631 — 88,553 Derivatives not designated as accounting hedges(2): Interest rate contracts 242,212 123,482 436 366,130 4,570,771 6,416,792 1,231,155 12,218,718 Credit contracts 21,246 3,535 — 24,781 684,536 171,985 — 856,521 Foreign exchange contracts 70,521 412 102 71,035 1,964,784 13,908 42,417 2,021,109 Equity contracts 25,261 — 26,399 51,660 356,509 — 294,745 651,254 Commodity contracts 16,230 — 5,011 21,241 87,566 — 103,188 190,754 Other 364 — — 364 7,568 — — 7,568 Total derivatives not designated as accounting hedges 375,834 127,429 31,948 535,211 7,671,734 6,602,685 1,671,505 15,945,924 Total derivatives $ 379,609 $ 129,262 $ 31,948 $ 540,819 $ 7,716,656 $ 6,646,316 $ 1,671,505 $ 16,034,477 Cash collateral netting (54,391) (2,480) — (56,871) — — — — Counterparty netting (296,874) (125,507) (28,273) (450,654) — — — — Total derivative assets $ 28,344 $ 1,275 $ 3,675 $ 33,294 $ 7,716,656 $ 6,646,316 $ 1,671,505 $ 16,034,477 Derivative Liabilities at September 30, 2015 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 61 $ 98 $ — $ 159 $ 2,000 $ 4,519 $ — $ 6,519 Foreign exchange contracts 37 2 — 39 4,155 153 — 4,308 Total derivatives designated as . accounting hedges 98 100 — 198 6,155 4,672 — 10,827 Derivatives not designated as accounting hedges(2): Interest rate contracts 224,805 124,372 321 349,498 4,259,745 6,013,571 1,189,701 11,463,017 Credit contracts 21,224 3,418 — 24,642 617,011 165,496 — 782,507 Foreign exchange contracts 72,572 263 60 72,895 1,968,292 12,137 9,274 1,989,703 Equity contracts 28,858 — 28,553 57,411 351,276 — 293,615 644,891 Commodity contracts 13,859 — 5,308 19,167 79,641 — 89,147 168,788 Other 51 — — 51 4,170 — — 4,170 Total derivatives not designated as accounting hedges 361,369 128,053 34,242 523,664 7,280,135 6,191,204 1,581,737 15,053,076 Total derivatives $ 361,467 $ 128,153 $ 34,242 $ 523,862 $ 7,286,290 $ 6,195,876 $ 1,581,737 $ 15,063,903 Cash collateral netting (35,675) (1,760) — (37,435) — — — — Counterparty netting (296,874) (125,507) (28,273) (450,654) — — — — Total derivative liabilities $ 28,918 $ 886 $ 5,969 $ 35,773 $ 7,286,290 $ 6,195,876 $ 1,581,737 $ 15,063,903 Derivative Assets at December 31, 2014 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 3,947 $ 1,053 $ — $ 5,000 $ 44,324 $ 27,692 $ — $ 72,016 Foreign exchange contracts 498 6 — 504 9,362 261 — 9,623 Total derivatives designated as accounting hedges 4,445 1,059 — 5,504 53,686 27,953 — 81,639 Derivatives not designated as accounting hedges(3): Interest rate contracts 281,214 211,552 407 493,173 4,854,953 9,187,454 1,467,056 15,509,463 Credit contracts 27,776 4,406 — 32,182 806,441 167,390 — 973,831 Foreign exchange contracts 72,362 152 83 72,597 1,955,343 11,538 9,663 1,976,544 Equity contracts 23,208 — 24,916 48,124 299,363 — 271,164 570,527 Commodity contracts 17,698 — 6,717 24,415 115,792 — 156,440 272,232 Other 376 — — 376 5,179 — — 5,179 Total derivatives not designated as accounting hedges 422,634 216,110 32,123 670,867 8,037,071 9,366,382 1,904,323 19,307,776 Total derivatives $ 427,079 $ 217,169 $ 32,123 $ 676,371 $ 8,090,757 $ 9,394,335 $ 1,904,323 $ 19,389,415 Cash collateral netting (58,541) (4,654) — (63,195) — — — — Counterparty netting (338,041) (210,922) (27,819) (576,782) — — — — Total derivative assets $ 30,497 $ 1,593 $ 4,304 $ 36,394 $ 8,090,757 $ 9,394,335 $ 1,904,323 $ 19,389,415 Derivative Liabilities at December 31, 2014 Fair Value Notional Bilateral OTC Cleared OTC(1) Exchange Traded Total Bilateral OTC Cleared OTC(1) Exchange Traded Total (dollars in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 125 $ 99 $ — $ 224 $ 2,024 $ 7,588 $ — $ 9,612 Foreign exchange contracts 5 1 — 6 1,491 121 — 1,612 Total derivatives designated as accounting hedges 130 100 — 230 3,515 7,709 — 11,224 Derivatives not designated as accounting hedges(3): Interest rate contracts 264,579 207,482 293 472,354 4,615,886 9,138,417 1,714,021 15,468,324 Credit contracts 28,165 3,944 — 32,109 714,181 154,054 — 868,235 Foreign exchange contracts 72,156 169 21 72,346 1,947,178 11,477 1,761 1,960,416 Equity contracts 30,061 — 25,511 55,572 339,884 — 302,205 642,089 Commodity contracts 14,740 — 6,783 21,523 93,019 — 132,136 225,155 Other 172 — — 172 5,478 — — 5,478 Total derivatives not designated as accounting hedges 409,873 211,595 32,608 654,076 7,715,626 9,303,948 2,150,123 19,169,697 Total derivatives $ 410,003 $ 211,695 $ 32,608 $ 654,306 $ 7,719,141 $ 9,311,657 $ 2,150,123 $ 19,180,921 Cash collateral netting (37,054) (258) — (37,312) — — — — Counterparty netting (338,041) (210,922) (27,819) (576,782) — — — — Total derivative liabilities $ 34,908 $ 515 $ 4,789 $ 40,212 $ 7,719,141 $ 9,311,657 $ 2,150,123 $ 19,180,921 _____________ (1) Amounts include OTC derivatives that are centrally cleared in accordance with certain regulatory requirements. (2) Notional amounts include gross notionals related to open long and short futures contracts of $ 886 billion and $ 950 billion, respectively. The unsettled fair value on these futures contracts (excluded from the table above) of $ 432 million and $ 9 million is included in Customer and other receivables an d Customer and other payables, respectively, in the Company’s condensed consolidated statements of financial condition. (3) Notional amounts include gross notionals related to open long and short futures contracts of $ 685 billion and $ 1,122 billion, respe ctively. The unsettled fair value on these futures contracts (excluded from the table above) of $ 472 million and $ 21 million is included in Customer and other receivables and Customer and other payables, respectively, in the Company’s condensed consolidate d statements of financial condition.
Summary of Gains or Losses Reported on Derivative Instruments Designated and Not Designated as Accounting Hedges	Derivatives D esignated as Fair Value Hedges. The following table presents gains (losses) reported on interest rate derivative instruments designated and qualifying as accounting hedges and the related hedged item as well as the hedge ineffectiveness included in Inter est expense in the Company’s condensed consolidated statements of income: Gains (Losses) Recognized in Interest Expense Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Derivatives $ 1,531 $ (384) $ 390 $ 547 Borrowings (1,334) 757 386 429 Total $ 197 $ 373 $ 776 $ 976 Derivatives Designated as Net Investment Hedges . The following table presents gains (losses) reported on derivative instruments designated and qualifying as accounting hedges: Gains (Losses) Recognized in OCI (effective portion) Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Foreign exchange contracts(1) $ 210 $ 438 $ 391 $ 262 Total $ 210 $ 438 $ 391 $ 262 ____________ (1) Losses of $ 37 million and $ 117 million related to the forward points on the hedging instruments were excluded from hedge effectiveness testing and recognized in interest income during the quarter and nine months ended September 30, 2015 , respectively. Losses of $ 46 million and $ 143 million related to the forward points on the hedging instruments were excluded from hedge effectiveness testing and recognized in interest income during the quarter and nine months ended September 30, 2014 , respectively. Derivatives Not Designated as Accounting Hedges. The following table summarizes gains (losses) on derivative instruments not designated as accounting hedges: Gains (Losses) Recognized in Income(1) Three Months Ended Nine Months Ended September 30, September 30, Product Type 2015 2014 2015 2014 (dollars in millions) Interest rate contracts $ 103 $ (37) $ 579 $ (1,847) Credit contracts 99 407 (110) 258 Foreign exchange contracts 3,570 191 (1,224) 1,795 Equity contracts 3,678 114 1,658 (2,212) Commodity contracts 787 60 1,435 531 Other contracts 35 22 (30) 133 Total derivative instruments $ 8,272 $ 757 $ 2,308 $ (1,342) ____________ (1) Gains (losses) on derivative contracts not designated as hedges are primarily included in Trading revenues in the Company’s condensed consolidated statements of income. Gains (losses) associated with certain derivative contracts that have physically settled are excluded from the table above. Gains (losses) on these contracts are reflected with the associated cash instruments, which are also included in Trading revenues in the Company’s condensed consolidated statements of income.
Credit Risk-Related Contingencies	At September 30, 2015 (dollars in millions) Net derivative liabilities $ 26,700 Collateral posted 22,247 At September 30, 2015 (dollars in millions) Incremental collateral or termination payments upon potential future ratings downgrade(1): One-notch downgrade $ 1,111 Two-notch downgrade 1,251 ________ (1) Amounts include $ 1,879 million related to bilateral arrangements between the Company 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 a risk management tool used extensively by the Company as credit exposures are reduced if counterparties are downgraded.
Disclosure of Credit Derivatives	At September 30, 2015 Maximum Potential Payout/Notional Protection Sold Protection Purchased Notional Fair Value (Asset)/Liability Notional Fair Value (Asset)/Liability (dollars in millions) Single name credit default swaps $ 458,768 $ 1,241 $ 439,328 $ (593) Index and basket credit default swaps 264,416 (148) 231,528 (68) Tranched index and basket credit default swaps 74,353 (1,394) 170,635 823 Total $ 797,537 $ (301) $ 841,491 $ 162 At December 31, 2014 Maximum Potential Payout/Notional Protection Sold Protection Purchased Notional Fair Value (Asset)/Liability Notional Fair Value (Asset)/Liability (dollars in millions) Single name credit default swaps $ 535,415 $ (2,479) $ 509,872 $ 1,641 Index and basket credit default swaps 276,465 (1,777) 229,789 1,563 Tranched index and basket credit default swaps 96,182 (2,355) 194,343 3,334 Total $ 908,062 $ (6,611) $ 934,004 $ 6,538 The tables below summarize the credit ratings of the reference obligation and maturities of protection sold through credit default swaps and other credit contracts : At September 30, 2015 Maximum Potential Payout/Notional Fair Value (Asset)/ Liability(1)(2) Years to Maturity Credit Ratings of the Reference Obligation Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Single name credit default swaps: AAA $ 4,247 $ 13,475 $ 5,252 $ 1,587 $ 24,561 $ (253) AA 9,247 18,450 10,605 2,689 40,991 (433) A 18,861 36,875 11,145 1,825 68,706 (803) BBB 43,071 92,864 41,808 11,883 189,626 (325) Non-investment grade 35,030 66,058 28,914 4,882 134,884 3,055 Total 110,456 227,722 97,724 22,866 458,768 1,241 Index and basket credit default swaps: AAA 14,890 41,296 1,663 — 57,849 (1,006) A 4,700 4,668 6,271 12 15,651 (197) BBB 9,904 27,045 49,952 34,893 121,794 (818) Non-investment grade 24,331 82,978 16,048 20,118 143,475 479 Total 53,825 155,987 73,934 55,023 338,769 (1,542) Total credit default swaps sold $ 164,281 $ 383,709 $ 171,658 $ 77,889 $ 797,537 $ (301) Other credit contracts(3) $ 1 $ 806 $ 340 $ 49 $ 1,196 $ (1,042) Total credit derivatives and other credit contracts $ 164,282 $ 384,515 $ 171,998 $ 77,938 $ 798,733 $ (1,343) At December 31, 2014 Maximum Potential Payout/Notional Fair Value (Asset)/ Liability(1)(2) Years to Maturity Credit Ratings of the Reference Obligation Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Single name credit default swaps: AAA $ 2,385 $ 9,400 $ 6,147 $ 692 $ 18,624 $ (113) AA 9,080 23,701 14,769 3,318 50,868 (688) A 22,861 52,291 22,083 2,944 100,179 (1,962) BBB 48,547 114,384 60,629 13,536 237,096 (1,489) Non-investment grade 29,857 66,066 29,011 3,714 128,648 1,773 Total 112,730 265,842 132,639 24,204 535,415 (2,479) Index and basket credit default swaps: AAA 17,625 31,124 7,265 1,883 57,897 (985) AA 704 6,512 716 2,864 10,796 (270) A 1,283 6,841 10,154 30 18,308 (465) BBB 30,265 40,575 60,141 7,730 138,711 (2,904) Non-investment grade 25,750 88,105 22,971 10,109 146,935 492 Total 75,627 173,157 101,247 22,616 372,647 (4,132) Total credit default swaps sold $ 188,357 $ 438,999 $ 233,886 $ 46,820 $ 908,062 $ (6,611) Other credit contracts(3) $ 51 $ 539 $ 1 $ 620 $ 1,211 $ (500) Total credit derivatives and other credit contracts $ 188,408 $ 439,538 $ 233,887 $ 47,440 $ 909,273 $ (7,111) _____________ (1) Fair value amounts are shown on a gross basis prior to cash collateral or counterparty netting. (2) Fair value amounts of certain credit default swaps where the Company sold protection have an asset carrying value because credit spreads of the underlying reference entity or entities tightened during the term of the contracts. (3) Other credit contracts include credit-linked notes (“CLNs”), collateralized debt obligations (“CDOs”) and credit default swaps that are considered hybrid instruments. Fair value amount s shown represent the fair value of the hybrid instruments.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investment securities:
Schedule of Available for Sale Securities	At September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Other-than-Temporary Impairment Fair Value (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 24,718 $ 119 $ 3 $ — $ 24,834 U.S. agency securities(1) 21,000 90 68 — 21,022 Total U.S. government and agency securities 45,718 209 71 — 45,856 Corporate and other debt: Commercial mortgage-backed securities: Agency 1,996 4 44 — 1,956 Non-agency 2,174 16 12 — 2,178 Auto loan asset-backed securities 2,679 3 1 — 2,681 Corporate bonds 3,866 14 17 — 3,863 Collateralized loan obligations 912 — 13 — 899 FFELP student loan asset-backed securities(2) 3,807 — 93 — 3,714 Total corporate and other debt 15,434 37 180 — 15,291 Total AFS debt securities 61,152 246 251 — 61,147 AFS equity securities 15 — 3 — 12 Total AFS securities 61,167 246 254 — 61,159 HTM securities: U.S. government securities: U.S. Treasury securities 1,002 5 — — 1,007 U.S. agency securities(1) 2,528 1 8 — 2,521 Total HTM securities 3,530 6 8 — 3,528 Total Investment securities $ 64,697 $ 252 $ 262 $ — $ 64,687 At December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Other-than-Temporary Impairment Fair Value (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 35,855 $ 42 $ 67 $ — $ 35,830 U.S. agency securities(1) 18,030 77 72 — 18,035 Total U.S. government and agency securities 53,885 119 139 — 53,865 Corporate and other debt: Commercial mortgage-backed securities: Agency 2,288 1 76 — 2,213 Non-agency 1,820 11 6 — 1,825 Auto loan asset-backed securities 2,433 — 5 — 2,428 Corporate bonds 3,640 10 22 — 3,628 Collateralized loan obligations 1,087 — 20 — 1,067 FFELP student loan asset-backed securities(2) 4,169 18 8 — 4,179 Total corporate and other debt 15,437 40 137 — 15,340 Total AFS debt securities 69,322 159 276 — 69,205 AFS equity securities 15 — 4 — 11 Total AFS securities 69,337 159 280 — 69,216 HTM securities: U.S. government securities: U.S. Treasury securities 100 — — — 100 Total HTM securities 100 — — — 100 Total Investment securities $ 69,437 $ 159 $ 280 $ — $ 69,316 ______________ U.S. agency securities are compo sed of three main categories consisting of agency-issued debt, agency mortgage pass-through pool securities and collateralized mortgage obligations . FFELP—Federal Family Education Loan Program. Amounts are backed by a guarantee from the U.S. Department of Education of at least 95 % of the principal balance and interest on such loans.
Schedule of Investment Securities in an Unrealized Loss Position	At September 30, 2015 Less than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 1,926 $ 3 $ — $ — $ 1,926 $ 3 U.S. agency securities 8,137 31 1,943 37 10,080 68 Total U.S. government and agency securities 10,063 34 1,943 37 12,006 71 Corporate and other debt: Commercial mortgage-backed securities: Agency 43 — 1,250 44 1,293 44 Non-agency 634 6 475 6 1,109 12 Auto loan asset-backed securities 782 — 309 1 1,091 1 Corporate bonds 1,196 8 469 9 1,665 17 Collateralized loan obligations — — 900 13 900 13 FFELP student loan asset-backed securities 2,767 62 877 31 3,644 93 Total corporate and other debt 5,422 76 4,280 104 9,702 180 Total AFS debt securities 15,485 110 6,223 141 21,708 251 AFS equity securities 12 3 — — 12 3 Total AFS securities 15,497 113 6,223 141 21,720 254 HTM securities: U.S. government and agency securities: U.S. agency securities 1,921 8 — — 1,921 8 Total HTM securities 1,921 8 — — 1,921 8 Total Investment securities $ 17,418 $ 121 $ 6,223 $ 141 $ 23,641 $ 262 At December 31, 2014 Less than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities $ 11,410 $ 14 $ 5,924 $ 53 $ 17,334 $ 67 U.S. agency securities 2,739 6 4,133 66 6,872 72 Total U.S. government and agency securities 14,149 20 10,057 119 24,206 139 Corporate and other debt: Commercial mortgage-backed securities: Agency 42 — 1,822 76 1,864 76 Non-agency 706 3 346 3 1,052 6 Auto loan asset-backed securities 2,034 5 — — 2,034 5 Corporate bonds 905 6 1,299 16 2,204 22 Collateralized loan obligations — — 1,067 20 1,067 20 FFELP student loan asset-backed securities 1,523 6 393 2 1,916 8 Total corporate and other debt 5,210 20 4,927 117 10,137 137 Total AFS debt securities 19,359 40 14,984 236 34,343 276 AFS equity securities 11 4 — — 11 4 Total Investment securities $ 19,370 $ 44 $ 14,984 $ 236 $ 34,354 $ 280
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Date	At September 30, 2015 Amortized Cost Fair Value Annualized Average Yield (dollars in millions) AFS debt securities: U.S. government and agency securities: U.S. Treasury securities: After 1 year through 5 years $ 24,570 $ 24,683 1.1% After 5 years through 10 years 148 151 2.1% Total 24,718 24,834 U.S. agency securities: After 1 year through 5 years 2,436 2,437 0.7% After 5 years through 10 years 2,087 2,103 1.6% After 10 years 16,477 16,482 1.8% Total 21,000 21,022 Total U.S. government and agency securities 45,718 45,856 1.3% Corporate and other debt: Commercial mortgage-backed securities: Agency: Due within 1 year 2 2 0.5% After 1 year through 5 years 673 675 0.9% After 5 years through 10 years 218 217 1.5% After 10 years 1,103 1,062 1.5% Total 1,996 1,956 Non-agency: After 10 years 2,174 2,178 1.8% Total 2,174 2,178 Auto loan asset-backed securities: Due within 1 year 11 11 0.7% After 1 year through 5 years 2,315 2,316 1.1% After 5 years through 10 years 353 354 1.5% Total 2,679 2,681 Corporate bonds: Due within 1 year 458 459 1.0% After 1 year through 5 years 2,694 2,688 1.6% After 5 years through 10 years 714 716 2.7% Total 3,866 3,863 Collateralized loan obligations: After 5 years through 10 years 912 899 1.4% Total 912 899 FFELP student loan asset-backed securities: After 1 year through 5 years 87 87 0.7% After 5 years through 10 years 697 687 0.9% After 10 years 3,023 2,940 0.9% Total 3,807 3,714 Total corporate and other debt 15,434 15,291 1.6% Total AFS debt securities 61,152 61,147 1.3% AFS equity securities 15 12 ― % Total AFS securities 61,167 61,159 1.3% HTM securities: U.S. government securities: U.S. Treasury securities: After 1 year through 5 years 1,002 1,007 1.0% Total 1,002 1,007 U.S. agency securities: After 10 years 2,528 2,521 2.4% Total 2,528 2,521 Total HTM securities 3,530 3,528 2.0% Total Investment securities $ 64,697 $ 64,687 1.4%
Schedule of Proceeds of Sale of Securities Available for Sale	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (dollars in millions) Gross realized gains $ 22 $ 20 $ 91 $ 37 Gross realized (losses) (4) — (17) (1) Total $ 18 $ 20 $ 74 $ 36

Collateralized Transactions (Ta

Collateralized Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Collateralized Transactions
Information of Offsetting of Assets and Liabilities	At September 30, 2015 Gross Amounts(1) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Financial Instruments Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure (dollars in millions) Assets Securities purchased under agreements to resell $ 185,825 $ (58,619) $ 127,206 $ (122,156) $ 5,050 Securities borrowed 157,456 (9,211) 148,245 (141,809) 6,436 Liabilities Securities sold under agreements to repurchase $ 117,189 $ (58,619) $ 58,570 $ (48,777) $ 9,793 Securities loaned 29,855 (9,211) 20,644 (20,183) 461 At December 31, 2014 Gross Amounts(3) Amounts Offset in the Condensed Consolidated Statements of Financial Condition Net Amounts Presented in the Condensed Consolidated Statements of Financial Condition Financial Instruments Not Offset in the Condensed Consolidated Statements of Financial Condition(2) Net Exposure (dollars in millions) Assets Securities purchased under agreements to resell $ 148,234 $ (64,946) $ 83,288 $ (79,343) $ 3,945 Securities borrowed 145,556 (8,848) 136,708 (128,282) 8,426 Liabilities Securities sold under agreements to repurchase $ 134,895 $ (64,946) $ 69,949 $ (56,454) $ 13,495 Securities loaned 34,067 (8,848) 25,219 (24,252) 967 _____________ (1) Amounts include $ 4.9 billion of Securities purchased under agreements to resell, $ 3.5 billion of Securities borrowed, $ 9.7 billion of Securities sold under agreements to repurchase and $ 0.4 billion of Securities loaned, which are either not subject to master netting agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable. (2) Amounts relate to master netting agreements, which have been determined by the Company to be legally enforceable in the event of default but where certain other criteria are not met in accordance with applicable of fsetting accounting guidance. (3) Amounts include $3.9 billion of Securities purchased under agreements to resell, $4.2 billion of Securities borrowed, $15.6 billion of Securities sold under agreements to repurchase and $0.7 billion of Securities loaned, which are either not subject to master netting agreements or are subject to such agreements but the Company has not determined the agreements to be legally enforceable .
Schedule Of Securities Financing Transactions	At September 30, 2015 Remaining Contractual Maturity Overnight and Open Less than 30 days 30-90 days Over 90 days Total (dollars in millions) Securities sold under agreements to repurchase(1) $ 46,165 $ 21,392 $ 12,312 $ 37,320 $ 117,189 Securities loaned(1) 16,224 2,026 2,103 9,502 29,855 Gross amount of secured financing included in the above offsetting disclosure $ 62,389 $ 23,418 $ 14,415 $ 46,822 $ 147,044 Obligation to return securities received as collateral 20,328 — — — 20,328 Total $ 82,717 $ 23,418 $ 14,415 $ 46,822 $ 167,372 Secured Financing by the Class of Collateral Pledged At September 30, 2015 (dollars in millions) Securities sold under agreements to repurchase(1) U.S. government and agency securities $ 65,438 State and municipal securities 51 Other sovereign government obligations 35,608 Asset-backed securities 776 Corporate and other debt 4,426 Corporate equities 10,587 Other 303 Total securities sold under agreements to repurchase $ 117,189 Securities loaned(1) Other sovereign government obligations $ 9,356 Corporate and other debt 176 Corporate equities 20,312 Other 11 Total securities loaned $ 29,855 Gross amount of secured financing included in the above offsetting disclosure $ 147,044 Obligation to return securities received as collateral Corporate equities $ 20,328 Total obligation to return securities received as collateral $ 20,328 Total $ 167,372 _____________ (1) Amounts presented on a gross basis, prior to netting as shown on the Company’s condensed consolidated statements of financial condition.
Schedule of Cash and Securities Segregated under Federal and Other Regulations	At September 30, 2015 At December 31, 2014 (dollars in millions) Cash deposited with clearing organizations or segregated under federal and other regulations or requirements(1) $ 35,552 $ 40,607 Securities(2) 16,946 14,630 Total $ 52,498 $ 55,237 _____________ In June 2015, the Company made amendments to certain arrangements by which it acts in the capacity of a clearing member to clear derivatives on behalf of customers. These amendments resulted in approximately $ 3 . 8 billion related to cash initial margin received from customers and remitted to clearing organizations or third- party custodian banks no longer qualifying for recognition in the Company’s condensed consolidated statements of financial condition. Securities deposited with clearing organizations or segregated under federal and other regulations or requirements are sourced from Securities purchased under agreements to resell and Trading assets in the Company’s condensed consolidated statements of financial cond ition.

Loans and Allowance for Loan 33

Loans and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Table of Loans Outstanding	At September 30, 2015 At December 31, 2014 Loans by Product Type Loans Held for Investment Loans Held for Sale Total Loans(1)(2) Loans Held for Investment Loans Held for Sale Total Loans(1)(2) (dollars in millions) Corporate loans $ 22,519 $ 8,509 $ 31,028 $ 19,659 $ 8,200 $ 27,859 Consumer loans 20,447 — 20,447 16,576 — 16,576 Residential real estate loans 19,640 121 19,761 15,735 114 15,849 Wholesale real estate loans 6,577 569 7,146 5,298 1,144 6,442 Total loans, gross of allowance for loan losses 69,183 9,199 78,382 57,268 9,458 66,726 Allowance for loan losses (173) — (173) (149) — (149) Total loans, net of allowance for loan losses $ 69,010 $ 9,199 $ 78,209 $ 57,119 $ 9,458 $ 66,577 ______________ Amounts include loans that are made to non-U.S. borrowers of $ 7,455 million and $ 7 , 017 million at September 30, 2015 and December 31, 2014 , respectively. Loans at fixed interest rates and floating or adjustable interest rates were $ 7,280 million and $ 70,929 million, respectively, at September 30, 2015 and $6,663 million and $59,914 million, respectively, at December 31, 2014
Table of Credit Quality Indicators for Gross Loans Held-for-investment by Product Type	At September 30, 2015 Loans by Credit Quality Indicators Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Pass $ 21,265 $ 20,447 $ 19,596 $ 6,577 $ 67,885 Special mention 786 — — — 786 Substandard 447 — 44 — 491 Doubtful 21 — — — 21 Total loans $ 22,519 $ 20,447 $ 19,640 $ 6,577 $ 69,183 At December 31, 2014 Loans by Credit Quality Indicators Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Pass $ 17,847 $ 16,576 $ 15,688 $ 5,298 $ 55,409 Special mention 1,683 — — — 1,683 Substandard 127 — 47 — 174 Doubtful 2 — — — 2 Total loans $ 19,659 $ 16,576 $ 15,735 $ 5,298 $ 57,268
Table of Impaired Loans, Past Due Loans and Allowance for Held-for-investment Loans	At September 30, 2015 At December 31, 2014 Loans by Product Type Corporate Residential Real Estate Total Corporate Residential Real Estate Total (dollars in millions) Impaired loans with allowance $ 17 $ — $ 17 $ — $ — $ — Impaired loans without allowance(1) 76 25 101 2 17 19 Impaired loans unpaid principal balance 93 25 118 2 17 19 Past due 90 days loans and on nonaccrual 53 28 81 2 25 27 (1) At September 30, 2015 and December 31, 2014 , no allowance was outstanding for these loans as the present value of the expected future cash flows (or alternatively, the observable market price of the loan or the fair value of the collateral held) exceeded or equaled the carrying value. At September 30, 2015 At December 31, 2014 Loans by Region Americas EMEA Asia-Pacific Total Americas EMEA Asia-Pacific Total (dollars in millions) Impaired loans $ 101 $ 17 $ — $ 118 $ 19 $ — $ — $ 19 Past due 90 days loans and on nonaccrual 81 — — 81 27 — — 27 Allowance for loan losses 140 28 5 173 121 20 8 149 EMEA—Europe, Middle East and Africa.
Loan and Lending-related Commitments by Impairment Methodology, and Their Respective Allowances	Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Allowance for loan losses: Balance at December 31, 2014 $ 118 $ 2 $ 8 $ 21 $ 149 Gross charge-offs — — (1) — (1) Gross recoveries 1 — — — 1 Net recoveries/(charge-offs) 1 — (1) — — Provision for loan losses(1) 31 — 3 1 35 Other(2) (11) — — — (11) Balance at September 30, 2015 $ 139 $ 2 $ 10 $ 22 $ 173 Allowance for loan losses by impairment methodology: Inherent $ 134 $ 2 $ 10 $ 22 $ 168 Specific 5 — — — 5 Total allowance for loan losses at September 30, 2015 $ 139 $ 2 $ 10 $ 22 $ 173 Loans evaluated by impairment methodology(3): Inherent $ 22,426 $ 20,447 $ 19,615 $ 6,577 $ 69,065 Specific 93 — 25 — 118 Total loans evaluated at September 30, 2015 $ 22,519 $ 20,447 $ 19,640 $ 6,577 $ 69,183 Allowance for lending commitments: Balance at December 31, 2014 $ 147 $ — $ — $ 2 $ 149 Provision for lending commitments(4) 11 — — 1 12 Balance at September 30, 2015 $ 158 $ — $ — $ 3 $ 161 Allowance for lending commitments by impairment methodology: Inherent $ 158 $ — $ — $ 3 $ 161 Specific — — — — — Total allowance for lending commitments at September 30, 2015 $ 158 $ — $ — $ 3 $ 161 Lending commitments evaluated by impairment methodology(3): Inherent $ 65,627 $ 4,587 $ 310 $ 446 $ 70,970 Specific 128 — — — 128 Total lending commitments evaluated at September 30, 2015 $ 65,755 $ 4,587 $ 310 $ 446 $ 71,098 Corporate Consumer Residential Real Estate Wholesale Real Estate Total (dollars in millions) Allowance for loan losses: Balance at December 31, 2013 $ 137 $ 1 $ 4 $ 14 $ 156 Gross charge-offs — — — (3) (3) Gross recoveries — — — 1 1 Net charge-offs — — — (2) (2) Provision (release) for loan losses(1) (20) 1 3 3 (13) Balance at September 30, 2014 $ 117 $ 2 $ 7 $ 15 $ 141 Allowance for loan losses by impairment methodology: Inherent $ 115 $ 2 $ 7 $ 15 $ 139 Specific 2 — — — 2 Total allowance for loan losses at September 30, 2014 $ 117 $ 2 $ 7 $ 15 $ 141 Loans evaluated by impairment methodology(3): Inherent $ 18,575 $ 15,389 $ 14,169 $ 3,430 $ 51,563 Specific 14 — 29 — 43 Total loan evaluated at September 30, 2014 $ 18,589 $ 15,389 $ 14,198 $ 3,430 $ 51,606 Allowance for lending commitments: Balance at December 31, 2013 $ 125 $ — $ — $ 2 $ 127 Provision for lending commitments(4) 14 — — — 14 Balance at September 30, 2014 $ 139 $ — $ — $ 2 $ 141 Allowance for lending commitments by impairment methodology: Inherent $ 139 $ — $ — $ 2 $ 141 Specific — — — — — Total allowance for lending commitments at September 30, 2014 $ 139 $ — $ — $ 2 $ 141 Lending commitments evaluated by impairment methodology(3): Inherent $ 63,702 $ 4,354 $ 269 $ 288 $ 68,613 Specific 53 — — — 53 Total lending commitments evaluated at September 30, 2014 $ 63,755 $ 4,354 $ 269 $ 288 $ 68,666 _______________ (1) The Company recorded provisions of $ 5 million and $ 2 million for loan losses within Other revenues for the quarters ended September 30, 2015 and 2014 , respectively. (2) Amount includes the impact related to the transfer to loans held for sale and foreign currency translation adjustments. (3) Loan balances are gross of the allowance for loan losses and lending commitments are gross of credit losses. (4) The Company recorded a provision of $ 4 million and a release of $ 16 million for lending commitments within Other non-interest expenses for the quarters ended September 30, 2015 and 2014 , respectively.

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
Deposits	At September 30, 2015(1) At December 31, 2014(1) (dollars in millions) Savings and demand deposits $ 143,543 $ 132,159 Time deposits 3,683 1,385 Total $ 147,226 $ 133,544 (1) Total deposits subject to the Federal Deposit Insurance Corporation (the “FDIC”) insurance at September 30, 2015 and December 31, 2014 were $ 107 billion and $ 99 billion, respectively.

Long-Term Borrowings and Othe35

Long-Term Borrowings and Other Secured Financings (Tables)	9 Months Ended
	Sep. 30, 2015
Borrowings and Other Secured Financings
Components of Long-term Borrowings	At September 30, 2015 At December 31, 2014 (dollars in millions) Senior debt $ 146,899 $ 139,565 Subordinated debt 10,575 8,339 Junior subordinated debentures 2,869 4,868 Total $ 160,343 $ 152,772
Other Secured Financings	At September 30, 2015 At December 31, 2014 (dollars in millions) Secured financings with original maturities greater than one year $ 8,096 $ 10,346 Secured financings with original maturities one year or less 1,733 1,395 Failed sales(1) 342 344 Total $ 10,171 $ 12,085 ___________ (1) For more information on failed sales, see Note 12 .

Commitments, Guarantees and C36

Commitments, Guarantees and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments, Guarantees and Contingencies [Abstract]
Commitments by Period of Expiration	Years to Maturity at September 30, 2015 Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Letters of credit and other financial guarantees obtained to satisfy collateral requirements $ 315 $ 8 $ — $ 1 $ 324 Investment activities 484 61 20 533 1,098 Primary lending commitments—investment grade(1) 13,636 20,928 34,007 3,453 72,024 Primary lending commitments—non-investment grade(1) 2,278 6,246 14,131 5,947 28,602 Secondary lending commitments 45 81 48 40 214 Commitments for secured lending transactions 1,895 294 511 1,188 3,888 Forward starting reverse repurchase agreements and securities borrowing agreements(2)(3) 73,680 — — — 73,680 Commercial and residential mortgage-related commitments 18 359 70 1,262 1,709 Other lending commitments 5,058 980 601 139 6,778 Total $ 97,409 $ 28,957 $ 49,388 $ 12,563 $ 188,317 (1) Due to the nature of the Company’s obligations under the commitments, these amounts include certain commitments participated to third parties totaling $ 1.8 billion of investment grade and $ 3.0 billion of non-investment grade. ( 2 ) The Company enters into forward starting reverse repurchase and securities borrowing agreements (agreements that have a trade date at or prior to September 30, 2015 and settle subsequent to period-end) that are primari ly secured by collateral from U.S. government agency securities and other sovereign government obligations. These agreements primarily settle within three business days of the trade date, and of the total amount at September 30, 2015 , $ 60.3 billion settled within three business days. (3) The Company also has a contingent obligation to provide financing to a clearinghouse through which it clears certain transactions. The financing is required only upon the default of a clearingho use member. The financing takes the form of a reverse repurchase facility, with a maximum amount of approximately $ 1.3 billion.
Obligations under Guarantee Arrangements	Maximum Potential Payout/Notional Carrying Amount (Asset)/ Liability Collateral/ Recourse Years to Maturity Type of Guarantee Less than 1 1-3 3-5 Over 5 Total (dollars in millions) Credit derivative contracts(1) $ 164,281 $ 383,709 $ 171,658 $ 77,889 $ 797,537 $ (301) $ — Other credit contracts 1 806 340 49 1,196 (1,042) — Non-credit derivative contracts(1) 1,069,489 825,927 301,902 590,735 2,788,053 80,932 — Standby letters of credit and other financial guarantees issued(2) 818 1,509 1,311 6,284 9,922 (188) 6,962 Market value guarantees 26 397 221 34 678 4 82 Liquidity facilities 2,842 — — — 2,842 (4) 4,473 Whole loan sales guarantees — — 1 23,484 23,485 9 — Securitization representations and warranties — — — 63,613 63,613 98 — General partner guarantees 71 37 87 454 649 71 — (1) Carrying amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting. For further information on derivative contracts, see Note 4. (2) The se amounts include certain standby letters of credit participated to third parties totaling $ 0.7 billion due to the nature of the Company’s obligations under these arrangements.

Variable Interest Entities an37

Variable Interest Entities and Securitization Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Securitization Activities and Variable Interest Entities [Abstract]
Consolidated VIEs	At September 30, 2015 At December 31, 2014 VIE assets VIE liabilities VIE assets VIE liabilities (dollars in millions) Mortgage- and asset-backed securitizations $ 437 $ 254 $ 563 $ 337 Managed real estate partnerships(1) 60 1 288 4 Other structured financings 830 13 928 80 Credit linked notes and Other 1,635 192 1,199 — _________ During the second quarter of 2015, the Company deconsolidated approximately $ 191 million in net assets previously attributable to nonredeemable noncontrolling interests that were related to a real estate fund sponsored by the Company.
Non-Consolidated VIEs	At September 30, 2015 Mortgage- and Asset-Backed Securitizations Collateralized Debt Obligations Municipal Tender Option Bonds Other Structured Financings Other (dollars in millions) VIE assets that the Company does not consolidate (unpaid principal balance)(1) $ 161,547 $ 15,046 $ 4,343 $ 1,696 $ 20,012 Maximum exposure to loss: Debt and equity interests(2) $ 15,121 $ 1,704 $ 12 $ 1,078 $ 3,559 Derivative and other contracts 13 — 2,597 — 66 Commitments, guarantees and other 956 1,120 — 609 268 Total maximum exposure to loss $ 16,090 $ 2,824 $ 2,609 $ 1,687 $ 3,893 Carrying value of exposure to loss—Assets: Debt and equity interests(2) $ 15,121 $ 1,704 $ 12 $ 644 $ 3,560 Derivative and other contracts 13 — 21 — 30 Total carrying value of exposure to loss—Assets $ 15,134 $ 1,704 $ 33 $ 644 $ 3,590 Carrying value of exposure to loss—Liabilities: Derivative and other contracts $ — $ — $ 17 $ — $ 2 Commitments, guarantees and other — — — 5 — Total carrying value of exposure to loss—Liabilities $ — $ — $ 17 $ 5 $ 2 At December 31, 2014 Mortgage- and Asset-Backed Securitizations Collateralized Debt Obligations Municipal Tender Option Bonds Other Structured Financings Other (dollars in millions) VIE assets that the Company does not consolidate (unpaid principal balance)(3) $ 174,548 $ 26,567 $ 3,449 $ 2,040 $ 19,237 Maximum exposure to loss: Debt and equity interests(4) $ 15,028 $ 3,062 $ 13 $ 1,158 $ 3,884 Derivative and other contracts 15 2 2,212 — 164 Commitments, guarantees and other 1,054 432 — 617 429 Total maximum exposure to loss $ 16,097 $ 3,496 $ 2,225 $ 1,775 $ 4,477 Carrying value of exposure to loss—Assets: Debt and equity interests(4) $ 15,028 $ 3,062 $ 13 $ 741 $ 3,884 Derivative and other contracts 15 2 4 — 74 Total carrying value of exposure to loss—Assets $ 15,043 $ 3,064 $ 17 $ 741 $ 3,958 Carrying value of exposure to loss—Liabilities: Derivative and other contracts $ — $ — $ — $ — $ 57 Commitments, guarantees and other — — — 5 — Total carrying value of exposure to loss—Liabilities $ — $ — $ — $ 5 $ 57 (1) Mortgage- and asset-backed securitizations include VIE assets as follows: $ 14.5 billion of residential mortgages; $ 77.3 billion of commercial mortgages; $ 17.3 billion of U.S. agency collateralized mortgage obligations; and $ 52.4 billion of other consumer or commercial loans. (2) Mortgage- and asset-backed se curitizations include VIE debt and equity interests as follows: $ 1.2 billion of residential mortgages; $ 3.1 billion of commercial mortgages; $ 3.8 billion of U.S. agency collateralized mortgage obligations; and $ 7.0 billion of other consumer or commercial loans. (3) Mortgage- and asset-backed securit izations include VIE assets as follows: $ 30.8 billion of residential mortgages; $ 71.9 billion of commercial mortgages; $ 20.6 billion of U.S. agency collateralized mortgage obligations; and $ 51.2 billion of other consumer or commercial loans. (4) Mortgage - and asset-backed securitizations include VIE debt and equity interests as follows: $ 1.9 billion of residential mortgages; $ 2.4 billion of commercial mortgages; $ 4.0 billion of U.S. agency collateralized mortgage obligations; and $ 6.8 billion of other con sumer or commercial loans.
Information Regarding SPEs	At September 30, 2015 Residential Mortgage Loans Commercial Mortgage Loans U.S. Agency Collateralized Mortgage Obligations Credit-Linked Notes and Other(1) (dollars in millions) SPE assets (unpaid principal balance)(2) $ 24,523 $ 58,983 $ 19,020 $ 20,296 Retained interests (fair value): Investment grade $ — $ 150 $ 1,290 $ — Non-investment grade 203 69 — 1,194 Total retained interests (fair value) $ 203 $ 219 $ 1,290 $ 1,194 Interests purchased in the secondary market (fair value): Investment grade $ — $ 231 $ 204 $ 2 Non-investment grade 92 81 — 31 Total interests purchased in the secondary market (fair value) $ 92 $ 312 $ 204 $ 33 Derivative assets (fair value) $ — $ 376 $ — $ 117 Derivative liabilities (fair value) — — — 780 _____________ (1) Amounts i nclude CLO transactions managed by unrelated third parties. ( 2 ) Amounts include assets transferred by unrelated transferors. At September 30, 2015 Level 1 Level 2 Level 3 Total (dollars in millions) Retained interests (fair value): Investment grade $ — $ 1,437 $ 3 $ 1,440 Non-investment grade — 28 1,438 1,466 Total retained interests (fair value) $ — $ 1,465 $ 1,441 $ 2,906 Interests purchased in the secondary market (fair value): Investment grade $ — $ 437 $ — $ 437 Non-investment grade — 168 36 204 Total interests purchased in the secondary market (fair value) $ — $ 605 $ 36 $ 641 Derivative assets (fair value) $ — $ 456 $ 37 $ 493 Derivative liabilities (fair value) — 764 16 780 At December 31, 2014 Residential Mortgage Loans Commercial Mortgage Loans U.S. Agency Collateralized Mortgage Obligations Credit-Linked Notes and Other(1) (dollars in millions) SPE assets (unpaid principal balance)(2) $ 26,549 $ 58,660 $ 20,826 $ 24,011 Retained interests (fair value): Investment grade $ 10 $ 117 $ 1,019 $ 57 Non-investment grade 98 120 — 1,264 Total retained interests (fair value) $ 108 $ 237 $ 1,019 $ 1,321 Interests purchased in the secondary market (fair value): Investment grade $ 32 $ 129 $ 61 $ 423 Non-investment grade 32 72 — 59 Total interests purchased in the secondary market (fair value) $ 64 $ 201 $ 61 $ 482 Derivative assets (fair value) $ — $ 495 $ — $ 138 Derivative liabilities (fair value) — — — 86 _____________ (1) Amounts i nclude CLO transactions managed by unrelated third parties. (2) Amounts include assets transferred by unrelated transferors. At December 31, 2014 Level 1 Level 2 Level 3 Total (dollars in millions) Retained interests (fair value): Investment grade $ — $ 1,166 $ 37 $ 1,203 Non-investment grade — 123 1,359 1,482 Total retained interests (fair value) $ — $ 1,289 $ 1,396 $ 2,685 Interests purchased in the secondary market (fair value): Investment grade $ — $ 644 $ 1 $ 645 Non-investment grade — 129 34 163 Total interests purchased in the secondary market (fair value) $ — $ 773 $ 35 $ 808 Derivative assets (fair value) $ — $ 559 $ 74 $ 633 Derivative liabilities (fair value) — 82 4 86
Schedule of proceeds from securitization transactions	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Proceeds received from new securitization transactions $ 6,105 $ 7,662 $ 17,270 $ 17,310 Proceeds from retained interests in securitization transactions 476 714 2,082 2,186 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Proceeds from sale of corporate loans sold to those SPEs $ 121 $ 447 $ 1,086 $ 1,572
Transfers of Assets Treated as Secured Financings	At September 30, 2015 At December 31, 2014 Carrying Value of Carrying Value of Assets Liabilities Assets Liabilities (dollars in millions) Failed sales $ 342 $ 342 $ 352 $ 344

Regulatory Requirements (Tables

Regulatory Requirements (Tables)	9 Months Ended
	Sep. 30, 2015
Regulatory Requirements
Capital Measures	The following table presents the Company’s capital measures under the U.S. Basel III Advanced Approach transitional rules and the minimum regulatory capital ratios. At September 30, 2015 At December 31, 2014 Amount Ratio Minimum Regulatory Capital Ratio(1) Amount Ratio Minimum Regulatory Capital Ratio(1) (dollars in millions) Regulatory capital and capital ratios: Common Equity Tier 1 capital $ 59,056 14.0% 4.5% $ 57,324 12.6% 4.0% Tier 1 capital 66,071 15.6% 6.0% 64,182 14.1% 5.5% Total capital 78,921 18.6% 8.0% 74,972 16.4% 8.0% Tier 1 leverage — 8.1% 4.0% — 7.9% 4.0% Assets: RWAs $ 423,242 N/A N/A $ 456,008 N/A N/A Adjusted average assets(2) 816,722 N/A N/A 810,524 N/A N/A __________ N/A—Not Applicable. (1) Percentages represent minimum regulatory capital ratios under U.S. Basel III transitional rules. (2) Beginning with the first quarter of 2015, in accordance with U.S. Basel III, adjusted average assets represent the denominator of the Tier 1 leverage ratio and were composed of the average daily balance of consolidated on-balance sheet assets under U.S. GAAP during the calendar quarter, adjusted for disallowed goodwill, transitional intangible assets, certain deferred tax assets, certain investments in the capital instruments of unconsolidated financial institutions and other adjustments. The following table sets forth the capital information for MSBNA: At September 30, 2015 At December 31, 2014 U.S. Basel III Transitional/ Standardized Approach Required Capital Ratio(1) U.S. Basel III Transitional/ Basel I + Basel 2.5 Approach Required Capital Ratio(1) Amount Ratio Amount Ratio (dollars in millions) Common Equity Tier 1 capital $ 12,939 13.8% 6.5% $ 12,355 12.2% 6.5% Tier 1 capital 12,939 13.8% 8.0% 12,355 12.2% 8.0% Total capital 14,649 15.7% 10.0% 14,040 13.9% 10.0% Tier 1 leverage 12,939 10.1% 5.0% 12,355 10.2% 5.0% The following table sets forth the capital information for MSPB NA: At September 30, 2015 At December 31, 2014 U.S. Basel III Transitional/ Standardized Approach Required Capital Ratio(1) U.S. Basel III Transitional/ Basel I + Basel 2.5 Approach Required Capital Ratio(1) Amount Ratio Amount Ratio (dollars in millions) Common Equity Tier 1 capital $ 3,433 23.0% 6.5% $ 2,468 20.3% 6.5% Tier 1 capital 3,433 23.0% 8.0% 2,468 20.3% 8.0% Total capital 3,447 23.1% 10.0% 2,480 20.4% 10.0% Tier 1 leverage 3,433 9.9% 5.0% 2,468 9.4% 5.0% (1) Capital ratios required to be considered well-capitalized for U.S. regulatory purposes.

Total Equity (Tables)

Total Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Total Equity
Preferred Stock Outstanding	Shares Outstanding at September 30, 2015 Liquidation Preference per Share Carrying Value Series At September 30, 2015 At December 31, 2014 A 44,000 $ 25,000 $ 1,100 $ 1,100 C 519,882 1,000 408 408 E 34,500 25,000 862 862 F 34,000 25,000 850 850 G 20,000 25,000 500 500 H 52,000 25,000 1,300 1,300 I 40,000 25,000 1,000 1,000 J 60,000 25,000 1,500 — Total $ 7,520 $ 6,020
Changes in Accumulated Other Comprehensive Income (Loss) by Component	Foreign Currency Translation Adjustments Change in Net Unrealized Gains (Losses) on AFS Securities Pensions, Postretirement and Other Total (dollars in millions) Balance at June 30, 2015 $ (833) $ (101) $ (513) $ (1,447) Other comprehensive income (loss) before reclassifications (76) 111 2 37 Amounts reclassified from AOCI — (11) 2 (9) Net other comprehensive income (loss) during the period (76) 100 4 28 Balance at September 30, 2015 $ (909) $ (1) $ (509) $ (1,419) Balance at June 30, 2014 $ (150) $ (46) $ (537) $ (733) Other comprehensive income (loss) before reclassifications (265) (90) (18) (373) Amounts reclassified from AOCI — (12) 3 (9) Net other comprehensive income (loss) during the period (265) (102) (15) (382) Balance at September 30, 2014 $ (415) $ (148) $ (552) $ (1,115) Foreign Currency Translation Adjustments Change in Net Unrealized Gains (Losses) on AFS Securities Pensions, Postretirement and Other Total (dollars in millions) Balance at December 31, 2014 $ (663) $ (73) $ (512) $ (1,248) Other comprehensive income (loss) before reclassifications (246) 118 (2) (130) Amounts reclassified from AOCI — (46) 5 (41) Net other comprehensive income (loss) during the period (246) 72 3 (171) Balance at September 30, 2015 $ (909) $ (1) $ (509) $ (1,419) Balance at December 31, 2013 $ (266) $ (282) $ (545) $ (1,093) Other comprehensive income (loss) before reclassifications (149) 156 (16) (9) Amounts reclassified from AOCI — (22) 9 (13) Net other comprehensive income (loss) during the period (149) 134 (7) (22) Balance at September 30, 2014 $ (415) $ (148) $ (552) $ (1,115)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share
Calculation of Basic and Diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic EPS: Income from continuing operations $ 1,051 $ 1,757 $ 5,352 $ 5,259 Income (loss) from discontinued operations (2) (5) (9) (6) Net income 1,049 1,752 5,343 5,253 Net income applicable to nonredeemable noncontrolling interests 31 59 124 156 Net income applicable to Morgan Stanley 1,018 1,693 5,219 5,097 Less: Preferred dividends (78) (62) (297) (192) Less: Allocation of (earnings) loss to participating RSUs(1): From continuing operations (1) (2) (4) (7) Earnings applicable to Morgan Stanley common shareholders $ 939 $ 1,629 $ 4,918 $ 4,898 Weighted average common shares outstanding 1,904 1,923 1,916 1,925 Earnings per basic common share: Income from continuing operations $ 0.49 $ 0.85 $ 2.57 $ 2.55 Income (loss) from discontinued operations — — — (0.01) Earnings per basic common share $ 0.49 $ 0.85 $ 2.57 $ 2.54 Diluted EPS: Earnings applicable to Morgan Stanley common shareholders $ 939 $ 1,629 $ 4,918 $ 4,898 Weighted average common shares outstanding 1,904 1,923 1,916 1,925 Effect of dilutive securities: Stock options and RSUs(1) 45 48 42 45 Weighted average common shares outstanding and common stock equivalents 1,949 1,971 1,958 1,970 Earnings per diluted common share: Income from continuing operations $ 0.48 $ 0.83 $ 2.52 $ 2.49 Income (loss) from discontinued operations — — (0.01) — Earnings per diluted common share $ 0.48 $ 0.83 $ 2.51 $ 2.49 _____________ ( 1 ) RSUs that are considered participating securities participate in all of the earnings of the Company in the computation of basic EPS, and , therefore, such RSUs are not included as incremental shares in the dilute d calculation.
Antidilutive Securities Excluded From The Computation Of Diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, Number of Antidilutive Securities Outstanding at End of Period: 2015 2014 2015 2014 (shares in millions) Stock options 11 13 11 13 RSUs and performance-based stock units 1 2 1 2 Total 12 15 12 15

Interest Income and Interest 41

Interest Income and Interest Expense (Tables)	9 Months Ended
	Sep. 30, 2015
Interest Income And Interest Expense
Schedule of Details of Interest Income and Interest Expense	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (dollars in millions) Interest income(1): Trading assets(2) $ 568 $ 508 $ 1,707 $ 1,520 Investment securities 211 162 650 449 Loans 560 474 1,573 1,220 Interest bearing deposits with banks 29 22 74 81 Securities purchased under agreements to resell and Securities borrowed(3) (99) (103) (404) (239) Customer receivables and Other(4) 182 321 721 946 Total interest income $ 1,451 $ 1,384 $ 4,321 $ 3,977 Interest expense(1): Deposits $ 17 $ 12 $ 51 $ 44 Short-term borrowings 7 1 16 3 Long-term borrowings 908 865 2,749 2,730 Securities sold under agreements to repurchase and Securities loaned(5) 254 301 797 930 Customer payables and Other(6) (497) (352) (1,348) (862) Total interest expense $ 689 $ 827 $ 2,265 $ 2,845 Net interest $ 762 $ 557 $ 2,056 $ 1,132 _____________ (1) Interest income and expense are recorded within the Company’s condensed consolidated statements of income depending on the nature of the instrument and related market conventions. When interest is 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. (2) Interest expense on Trading liabilities is reported as a reduction to Interest income on Trading assets. (3) Includes fees paid on Securities borrowed. (4) Includes interest from Customer receivables and Other interest earning assets. (5) Includes fees received on Securities loaned. (6) Includes fees received from prime brokerage custo mers for stock loan transactions incurred to cover customers’ short positions.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Employee Benefit Plans
Components of Net Periodic Benefit Expense	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (dollars in millions) Service cost, benefits earned during the period $ 5 $ 6 $ 15 $ 18 Interest cost on projected benefit obligation 39 40 116 120 Expected return on plan assets (30) (27) (89) (82) Net amortization of prior service cost (credit) (4) (3) (14) (9) Net amortization of actuarial loss 6 6 19 18 Curtailment loss — 3 — 3 Net periodic benefit expense $ 16 $ 25 $ 47 $ 68

Segment and Geographic Inform43

Segment and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting
Selected Financial Information by Segments	Three Months Ended September 30, 2015 Institutional Securities Wealth Management Investment Management Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(2) $ 3,889 $ 2,889 $ 278 $ (51) $ 7,005 Interest income 825 777 — (151) 1,451 Interest expense 810 26 4 (151) 689 Net interest 15 751 (4) — 762 Net revenues $ 3,904 $ 3,640 $ 274 $ (51) $ 7,767 Income (loss) from continuing operations before income taxes $ 688 $ 824 $ (38) $ — $ 1,474 Provision for (benefit from) income taxes 141 315 (33) — 423 Income (loss) from continuing operations 547 509 (5) — 1,051 Discontinued operations: Income (loss) from discontinued operations before income taxes (5) — 1 — (4) Provision for (benefit from) income taxes (2) — — — (2) Income (loss) from discontinued operations (3) — 1 — (2) Net income (loss) 544 509 (4) — 1,049 Net income applicable to nonredeemable noncontrolling interests 26 — 5 — 31 Net income (loss) applicable to Morgan Stanley $ 518 $ 509 $ (9) $ — $ 1,018 Three Months Ended September 30, 2014 Institutional Securities Wealth Management(3) Investment Management(3) Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(4)(5) $ 4,560 $ 3,174 $ 668 $ (52) $ 8,350 Interest income 859 649 — (124) 1,384 Interest expense 903 50 1 (127) 827 Net interest (44) 599 (1) 3 557 Net revenues $ 4,516 $ 3,773 $ 667 $ (49) $ 8,907 Income from continuing operations before income taxes $ 1,227 $ 800 $ 193 $ — $ 2,220 Provision for income taxes(6) 89 321 53 — 463 Income from continuing operations 1,138 479 140 — 1,757 Discontinued operations: Income (loss) from discontinued operations before income taxes (9) — 1 — (8) Provision for (benefit from) income taxes (3) — — — (3) Income (loss) from discontinued operations (6) — 1 — (5) Net income 1,132 479 141 — 1,752 Net income applicable to nonredeemable noncontrolling interests 41 — 18 — 59 Net income applicable to Morgan Stanley $ 1,091 $ 479 $ 123 $ — $ 1,693 Nine Months Ended September 30, 2015 Institutional Securities Wealth Management Investment Management Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(2) $ 14,640 $ 9,172 $ 1,709 $ (160) $ 25,361 Interest income 2,418 2,296 1 (394) 4,321 Interest expense 2,524 119 16 (394) 2,265 Net interest (106) 2,177 (15) — 2,056 Net revenues $ 14,534 $ 11,349 $ 1,694 $ (160) $ 27,417 Income from continuing operations before income taxes $ 4,123 $ 2,564 $ 369 $ — $ 7,056 Provision for income taxes(6) 658 959 87 — 1,704 Income from continuing operations 3,465 1,605 282 — 5,352 Discontinued operations: Income (loss) from discontinued operations before income taxes (14) — 1 — (13) Provision for (benefit from) income taxes (4) — — — (4) Income (loss) from discontinued operations (10) — 1 — (9) Net income 3,455 1,605 283 — 5,343 Net income applicable to nonredeemable noncontrolling interests 100 — 24 — 124 Net income applicable to Morgan Stanley $ 3,355 $ 1,605 $ 259 $ — $ 5,219 Nine Months Ended September 30, 2014 Institutional Securities Wealth Management(3) Investment Management(3) Intersegment Eliminations Total (dollars in millions) Total non-interest revenues(1)(4)(5) $ 14,016 $ 9,370 $ 2,136 $ (143) $ 25,379 Interest income 2,498 1,846 2 (369) 3,977 Interest expense 3,073 132 14 (374) 2,845 Net interest (575) 1,714 (12) 5 1,132 Net revenues $ 13,441 $ 11,084 $ 2,124 $ (138) $ 26,511 Income from continuing operations before income taxes $ 3,603 $ 2,249 $ 670 $ — $ 6,522 Provision for income taxes(6) 171 882 210 — 1,263 Income from continuing operations 3,432 1,367 460 — 5,259 Discontinued operations: Income (loss) from discontinued operations before income taxes (18) — 7 — (11) Provision for (benefit from) income taxes (7) — 2 — (5) Income (loss) from discontinued operations (11) — 5 — (6) Net income 3,421 1,367 465 — 5,253 Net income applicable to nonredeemable noncontrolling interests 77 — 79 — 156 Net income applicable to Morgan Stanley $ 3,344 $ 1,367 $ 386 $ — $ 5,097 In certain management fee arrangements, the Company is entitled to receive performance-based fees (also referred to as incentive fees) when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fee revenue is accrued (or reversed) quarterly based on measuring account fund performance to date versus the performance benchmark stated in the investment management agreement. The Company’s portion of unrealized cumulative per formance-based fee revenue at risk of reversing if fund performance falls below stated investment management agreement benchmarks was approximately $ 456 million at September 30, 2015 and approximately $ 634 million at December 31, 201 4 (see Note 2 to the Company’s consolidated financial statements in the 2014 Form 10-K ). See also Note 11 for information regarding general partner guarantees which include potential obligations to return performance fee distributions previously received. During the qu arter and nine months ended September 30, 2015, Other revenues included losses within the Company’s Institutional Securities business segment as a result of write-downs on loans and lending commitments held for sale , which were partially offset by gains on the sales of investment securities within the Company’s Wealth Management business segment . (3) On October 1, 2014, the Managed Futures business was transferred from the Company’s Wealth Management business segment to the Company’s Investment Management b usiness segment. All prior-period amounts have been recast to conform to the current year’s presentation. (4) In September 2014, the Company sold a retail property space resulting in a gain on sale of $ 141 million (within Institutional Securities $ 84 milli on, Wealth Management $ 40 million and Investment Management $ 17 million), which was included within Other revenues on the condensed consolidated statement of income. (5) On July 1, 2014, the Company completed the sale of its ownership stake in TransMontaigne. The gain on sale, which was included in continuing operations, was approximately $ 101 million (within the Company’s Institutional Securities business segment) for the quarter and nine months ended September 30, 2014. (6 ) The Company’s effective tax rate from continuing operations fo r the nine months ended September 30, 2015 include d a net discrete tax benefit of $ 564 million (within the Company’s Institutional Securities business segment). The Company’s effective tax rate from continuing operations for the quarter and nine months ended September 30, 2014 included a net discrete tax benefit of $ 237 million and $ 846 million , respectively (primarily within the Company’s Institutional Securities business segment) (see Note 18) .
Assets by Segments	Total Assets(1) Institutional Securities Wealth Management Investment Management Total (dollars in millions) At September 30, 2015 $ 658,867 $ 170,295 $ 4,951 $ 834,113 At December 31, 2014 $ 630,341 $ 165,147 $ 6,022 $ 801,510 (1) Corporate assets have been fully allocated to the Company’s business segments.
Net Revenues by Geographic Area	Three Months Ended Nine Months Ended September 30, September 30, Net Revenues 2015 2014 2015 2014 (dollars in millions) Americas $ 5,652 $ 6,308 $ 19,359 $ 19,022 EMEA 1,198 1,271 4,396 4,191 Asia-Pacific 917 1,328 3,662 3,298 Net revenues $ 7,767 $ 8,907 $ 27,417 $ 26,511

Introduction and Basis of Pre44

Introduction and Basis of Presentation (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Global Oil Merchanting Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges recognized in Other revenues	$ 10		$ 69
Canadian Terminal Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on business dispositions included in continuing operations				$ 45
TransMontaigne Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on business dispositions included in continuing operations		$ 101		$ 101

Introduction and Basis of Pre45

Introduction and Basis of Presentation (Other Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements of Cash Flows
Reduction in nonredeemable noncontrolling interests related to deconsolidation of certain legal entities associated with a real estate fund			$ 191	$ 191	$ 1,606
Real Estate Funds
Consolidated Statements of Cash Flows
Reduction in nonredeemable noncontrolling interests related to deconsolidation of certain legal entities associated with a real estate fund	$ 191
Noncash reduction in Assets	$ 169
Another Real Estate Funds
Consolidated Statements of Cash Flows
Reduction in nonredeemable noncontrolling interests related to deconsolidation of certain legal entities associated with a real estate fund		$ 1,600
Noncash reduction in Assets		$ 1,300

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015
Assets at Fair Value
Netting	$ (639,977)	$ (507,525)
Investments	6,651	5,604
Trading assets, fair value	256,801	237,811
AFS securities	69,216	61,159
Securities received as collateral	21,316	9,456
Securities purchased under agreement to resell	1,113	809
Intangible assets	6	5
Liabilities at Fair Value
Short-term borrowings	1,765	1,768
Netting	(614,094)	(488,089)
Total trading liabilities	107,381	125,525
Obligation to return securities received as collateral	25,685	20,328
Securities sold under agreement to repurchase	612	597
Other secured financings	4,504	3,450
Long-term borrowings	31,774	31,387
AFS securities
Assets at Fair Value
AFS securities	69,216	61,159
Recurring
Assets at Fair Value
U.S. government and agency securities	36,004	38,377
Other sovereign government obligations	23,078	27,101
Corporate and other debt	38,947	34,629
Corporate equities	114,119	97,089
Derivative and other contracts	36,394	33,294
Netting	(639,977)	(507,525)
Investments	6,651	5,604
Physical commodities	1,608	1,717
Trading assets, fair value	256,801	237,811
Securities received as collateral	21,316	9,456
Securities purchased under agreement to resell	1,113	809
Intangible assets	6	5
Total assets measured at fair value	348,452	309,240
Liabilities at Fair Value
Short-term borrowings	1,765	1,768
U.S. government and agency securities	15,558	15,685
Other sovereign government obligations	13,762	15,990
Corporate and other debt	6,138	6,818
Corporate equities	31,711	51,259
Derivative and other contracts	40,212	35,773
Netting	(614,094)	(488,089)
Total trading liabilities	107,381	125,525
Obligation to return securities received as collateral	25,685	20,328
Securities sold under agreement to repurchase	612	597
Other secured financings	4,504	3,450
Long-term borrowings	31,774	31,387
Total liabilities measure at fair value	171,721	183,055
Recurring | Net Asset Value
Assets at Fair Value
Investments	5,009	4,278
Recurring | U.S. Treasury Securities
Assets at Fair Value
U.S. government and agency securities	16,961	18,359
Liabilities at Fair Value
U.S. government and agency securities	14,199	14,524
Recurring | U.S. Agency Securities
Assets at Fair Value
U.S. government and agency securities	19,043	20,018
Liabilities at Fair Value
U.S. government and agency securities	1,359	1,161
Recurring | State and Municipal Securities
Assets at Fair Value
Corporate and other debt	2,049	1,987
Liabilities at Fair Value
Corporate and other debt	1	3
Recurring | Residential Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	2,166	2,150
Recurring | Commercial Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	1,580	1,947
Recurring | Asset-backed Securities
Assets at Fair Value
Corporate and other debt	659	802
Recurring | Corporate Bonds
Assets at Fair Value
Corporate and other debt	16,186	13,433
Liabilities at Fair Value
Corporate and other debt	6,021	6,802
Recurring | Collateralized Debt and Loan Obligations
Assets at Fair Value
Corporate and other debt	1,893	732
Recurring | Loans and Lending Commitments
Assets at Fair Value
Corporate and other debt	11,962	11,334
Recurring | Lending Commitments
Liabilities at Fair Value
Corporate and other debt	15	2
Recurring | Other Debt
Assets at Fair Value
Corporate and other debt	2,452	2,244
Liabilities at Fair Value
Corporate and other debt	101	11
Recurring | Interest Rate Contracts
Assets at Fair Value
Derivative and other contracts	498,173	371,523
Liabilities at Fair Value
Derivative and other contracts	472,578	349,657
Recurring | Credit Contracts
Assets at Fair Value
Derivative and other contracts	32,182	24,781
Liabilities at Fair Value
Derivative and other contracts	32,109	24,642
Recurring | Foreign Exchange Contracts
Assets at Fair Value
Derivative and other contracts	73,101	71,250
Liabilities at Fair Value
Derivative and other contracts	72,352	72,934
Recurring | Equity Contracts
Assets at Fair Value
Derivative and other contracts	48,124	51,660
Liabilities at Fair Value
Derivative and other contracts	55,572	57,411
Recurring | Commodity Contracts
Assets at Fair Value
Derivative and other contracts	24,415	21,241
Liabilities at Fair Value
Derivative and other contracts	21,523	19,167
Recurring | Other Contracts
Assets at Fair Value
Derivative and other contracts	376	364
Liabilities at Fair Value
Derivative and other contracts	172	51
Recurring | Principal Investments
Assets at Fair Value
Investments	896	661
Recurring | Other Investments
Assets at Fair Value
Investments	746	665
Recurring | AFS securities
Assets at Fair Value
AFS securities	69,216	61,159
Recurring | Level 1
Assets at Fair Value
U.S. government and agency securities	17,811	19,687
Other sovereign government obligations	15,149	19,597
Corporate and other debt	0	0
Corporate equities	112,490	96,023
Derivative and other contracts	512	578
Netting	(4,910)	(4,652)
Investments	283	172
Physical commodities	0	0
Trading assets, fair value	146,245	136,057
Securities received as collateral	21,265	9,455
Securities purchased under agreement to resell	0	0
Intangible assets	0	0
Total assets measured at fair value	204,710	173,277
Liabilities at Fair Value
Short-term borrowings	0	0
U.S. government and agency securities	15,473	15,550
Other sovereign government obligations	11,653	13,611
Corporate and other debt	0	0
Corporate equities	31,340	50,017
Derivative and other contracts	946	724
Netting	(4,910)	(4,652)
Total trading liabilities	59,412	79,902
Obligation to return securities received as collateral	25,629	20,327
Securities sold under agreement to repurchase	0	0
Other secured financings	0	0
Long-term borrowings	0	0
Total liabilities measure at fair value	85,041	100,229
Recurring | Level 1 | U.S. Treasury Securities
Assets at Fair Value
U.S. government and agency securities	16,961	18,359
Liabilities at Fair Value
U.S. government and agency securities	14,199	14,524
Recurring | Level 1 | U.S. Agency Securities
Assets at Fair Value
U.S. government and agency securities	850	1,328
Liabilities at Fair Value
U.S. government and agency securities	1,274	1,026
Recurring | Level 1 | State and Municipal Securities
Assets at Fair Value
Corporate and other debt	0	0
Liabilities at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Residential Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Commercial Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Asset-backed Securities
Assets at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Corporate Bonds
Assets at Fair Value
Corporate and other debt	0	0
Liabilities at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Collateralized Debt and Loan Obligations
Assets at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Loans and Lending Commitments
Assets at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Lending Commitments
Liabilities at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Other Debt
Assets at Fair Value
Corporate and other debt	0	0
Liabilities at Fair Value
Corporate and other debt	0	0
Recurring | Level 1 | Interest Rate Contracts
Assets at Fair Value
Derivative and other contracts	663	860
Liabilities at Fair Value
Derivative and other contracts	602	780
Recurring | Level 1 | Credit Contracts
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 Contracts
Assets at Fair Value
Derivative and other contracts	83	102
Liabilities at Fair Value
Derivative and other contracts	21	60
Recurring | Level 1 | Equity Contracts
Assets at Fair Value
Derivative and other contracts	571	876
Liabilities at Fair Value
Derivative and other contracts	416	691
Recurring | Level 1 | Commodity Contracts
Assets at Fair Value
Derivative and other contracts	4,105	3,392
Liabilities at Fair Value
Derivative and other contracts	4,817	3,845
Recurring | Level 1 | Other Contracts
Assets at Fair Value
Derivative and other contracts	0	0
Liabilities at Fair Value
Derivative and other contracts	0	0
Recurring | Level 1 | Principal Investments
Assets at Fair Value
Investments	58	23
Recurring | Level 1 | Other Investments
Assets at Fair Value
Investments	225	149
Recurring | Level 1 | AFS securities
Assets at Fair Value
AFS securities	37,200	27,765
Recurring | Level 2
Assets at Fair Value
U.S. government and agency securities	18,193	18,690
Other sovereign government obligations	7,888	7,493
Corporate and other debt	30,903	27,617
Corporate equities	1,357	491
Derivative and other contracts	98,866	90,171
Netting	(564,127)	(437,820)
Investments	201	301
Physical commodities	1,608	1,717
Trading assets, fair value	159,016	146,480
Securities received as collateral	51	0
Securities purchased under agreement to resell	1,113	809
Intangible assets	0	0
Total assets measured at fair value	192,196	180,683
Liabilities at Fair Value
Short-term borrowings	1,765	1,699
U.S. government and agency securities	85	135
Other sovereign government obligations	2,109	2,379
Corporate and other debt	6,017	6,795
Corporate equities	326	1,145
Derivative and other contracts	74,583	71,809
Netting	(564,127)	(437,820)
Total trading liabilities	83,120	82,263
Obligation to return securities received as collateral	56	0
Securities sold under agreement to repurchase	459	443
Other secured financings	4,355	3,109
Long-term borrowings	29,840	28,925
Total liabilities measure at fair value	119,595	116,439
Recurring | Level 2 | U.S. Treasury Securities
Assets at Fair Value
U.S. government and agency securities	0	0
Liabilities at Fair Value
U.S. government and agency securities	0	0
Recurring | Level 2 | U.S. Agency Securities
Assets at Fair Value
U.S. government and agency securities	18,193	18,690
Liabilities at Fair Value
U.S. government and agency securities	85	135
Recurring | Level 2 | State and Municipal Securities
Assets at Fair Value
Corporate and other debt	2,049	1,954
Liabilities at Fair Value
Corporate and other debt	1	3
Recurring | Level 2 | Residential Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	1,991	1,746
Recurring | Level 2 | Commercial Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	1,484	1,868
Recurring | Level 2 | Asset-backed Securities
Assets at Fair Value
Corporate and other debt	583	771
Recurring | Level 2 | Corporate Bonds
Assets at Fair Value
Corporate and other debt	15,800	13,207
Liabilities at Fair Value
Corporate and other debt	5,943	6,783
Recurring | Level 2 | Collateralized Debt and Loan Obligations
Assets at Fair Value
Corporate and other debt	741	187
Recurring | Level 2 | Loans and Lending Commitments
Assets at Fair Value
Corporate and other debt	6,088	6,170
Recurring | Level 2 | Lending Commitments
Liabilities at Fair Value
Corporate and other debt	10	2
Recurring | Level 2 | Other Debt
Assets at Fair Value
Corporate and other debt	2,167	1,714
Liabilities at Fair Value
Corporate and other debt	63	7
Recurring | Level 2 | Interest Rate Contracts
Assets at Fair Value
Derivative and other contracts	495,026	368,503
Liabilities at Fair Value
Derivative and other contracts	469,319	346,806
Recurring | Level 2 | Credit Contracts
Assets at Fair Value
Derivative and other contracts	30,813	23,844
Liabilities at Fair Value
Derivative and other contracts	29,997	22,900
Recurring | Level 2 | Foreign Exchange Contracts
Assets at Fair Value
Derivative and other contracts	72,769	70,801
Liabilities at Fair Value
Derivative and other contracts	72,233	72,593
Recurring | Level 2 | Equity Contracts
Assets at Fair Value
Derivative and other contracts	45,967	49,833
Liabilities at Fair Value
Derivative and other contracts	51,405	53,728
Recurring | Level 2 | Commodity Contracts
Assets at Fair Value
Derivative and other contracts	18,042	14,646
Liabilities at Fair Value
Derivative and other contracts	15,584	13,551
Recurring | Level 2 | Other Contracts
Assets at Fair Value
Derivative and other contracts	376	364
Liabilities at Fair Value
Derivative and other contracts	172	51
Recurring | Level 2 | Principal Investments
Assets at Fair Value
Investments	3	97
Recurring | Level 2 | Other Investments
Assets at Fair Value
Investments	198	204
Recurring | Level 2 | AFS securities
Assets at Fair Value
AFS securities	32,016	33,394
Recurring | Level 3
Assets at Fair Value
U.S. government and agency securities	0	0
Other sovereign government obligations	41	11
Corporate and other debt	8,044	7,012
Corporate equities	272	575
Derivative and other contracts	3,736	3,617
Netting	(4,220)	(3,981)
Investments	1,158	853
Physical commodities	0	0
Trading assets, fair value	13,251	12,068
Securities received as collateral	0	1
Securities purchased under agreement to resell	0	0
Intangible assets	6	5
Total assets measured at fair value	13,257	12,074
Liabilities at Fair Value
Short-term borrowings	0	69
U.S. government and agency securities	0	0
Other sovereign government obligations	0	0
Corporate and other debt	121	23
Corporate equities	45	97
Derivative and other contracts	5,520	4,876
Netting	(4,220)	(3,981)
Total trading liabilities	5,686	4,996
Obligation to return securities received as collateral	0	1
Securities sold under agreement to repurchase	153	154
Other secured financings	149	341
Long-term borrowings	1,934	2,462
Total liabilities measure at fair value	7,922	8,023
Recurring | Level 3 | U.S. Treasury Securities
Assets at Fair Value
U.S. government and agency securities	0	0
Liabilities at Fair Value
U.S. government and agency securities	0	0
Recurring | Level 3 | U.S. Agency Securities
Assets at Fair Value
U.S. government and agency securities	0	0
Liabilities at Fair Value
U.S. government and agency securities	0	0
Recurring | Level 3 | State and Municipal Securities
Assets at Fair Value
Corporate and other debt	0	33
Liabilities at Fair Value
Corporate and other debt	0	0
Recurring | Level 3 | Residential Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	175	404
Recurring | Level 3 | Commercial Mortgage-backed Securities
Assets at Fair Value
Corporate and other debt	96	79
Recurring | Level 3 | Asset-backed Securities
Assets at Fair Value
Corporate and other debt	76	31
Recurring | Level 3 | Corporate Bonds
Assets at Fair Value
Corporate and other debt	386	226
Liabilities at Fair Value
Corporate and other debt	78	19
Recurring | Level 3 | Collateralized Debt and Loan Obligations
Assets at Fair Value
Corporate and other debt	1,152	545
Recurring | Level 3 | Loans and Lending Commitments
Assets at Fair Value
Corporate and other debt	5,874	5,164
Recurring | Level 3 | Lending Commitments
Liabilities at Fair Value
Corporate and other debt	5	0
Recurring | Level 3 | Other Debt
Assets at Fair Value
Corporate and other debt	285	530
Liabilities at Fair Value
Corporate and other debt	38	4
Recurring | Level 3 | Interest Rate Contracts
Assets at Fair Value
Derivative and other contracts	2,484	2,160
Liabilities at Fair Value
Derivative and other contracts	2,657	2,071
Recurring | Level 3 | Credit Contracts
Assets at Fair Value
Derivative and other contracts	1,369	937
Liabilities at Fair Value
Derivative and other contracts	2,112	1,742
Recurring | Level 3 | Foreign Exchange Contracts
Assets at Fair Value
Derivative and other contracts	249	347
Liabilities at Fair Value
Derivative and other contracts	98	281
Recurring | Level 3 | Equity Contracts
Assets at Fair Value
Derivative and other contracts	1,586	951
Asset derivative equity contract increased by	57
Liabilities at Fair Value
Derivative and other contracts	3,751	2,992
Liabilities derivative equity contract increased by	842
Recurring | Level 3 | Commodity Contracts
Assets at Fair Value
Derivative and other contracts	2,268	3,203
Liabilities at Fair Value
Derivative and other contracts	1,122	1,771
Recurring | Level 3 | Other Contracts
Assets at Fair Value
Derivative and other contracts	0	0
Liabilities at Fair Value
Derivative and other contracts	0	0
Recurring | Level 3 | Principal Investments
Assets at Fair Value
Investments	835	541
Recurring | Level 3 | Other Investments
Assets at Fair Value
Investments	323	312
Recurring | Level 3 | AFS securities
Assets at Fair Value
AFS securities	0	0
Recurring | Counterparty and Cash Collateral Netting
Assets at Fair Value
Derivative and other contracts	(66,720)	(61,072)
Netting	(66,720)	(61,072)
Trading assets, fair value	(66,720)	(61,072)
Total assets measured at fair value	(66,720)	(61,072)
Liabilities at Fair Value
Derivative and other contracts	(40,837)	(41,636)
Netting	(40,837)	(41,636)
Total trading liabilities	(40,837)	(41,636)
Total liabilities measure at fair value	$ (40,837)	$ (41,636)

Fair Value Disclosures (Changes

Fair Value Disclosures (Changes in 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		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Securities Received as Collateral
Assets
Beginning balance	$ 3		$ 0
Realized and Unrealized Gains (Losses)	0		0
Purchases	0		1
Sales	(2)		0
Issuances	0		0
Settlements	0		0
Net Transfers	0		0
Ending balance	1		1		$ 0
Unrealized Gains (Losses) for Level 3 Assets Outstanding	0		0
Intangible Assets
Assets
Beginning balance	6	$ 6	6	$ 8	8
Realized and Unrealized Gains (Losses)	(1)	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	(1)	(2)
Net Transfers	0	0	0	0
Ending balance	5	6	5	6	6
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(1)	0	0	(1)
Short-term Borrowings
Liabilities
Beginning balance	0		0	1	1
Realized and Unrealized Gains (Losses)	(2)		(2)	0
Purchases	0		0	0
Sales	0		0	0
Issuances	4		60	0
Settlements	0		0	(1)
Net Transfers	63		7	0
Ending balance	69	0	69	0	0
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	(2)		(2)	0
Obligation to Return Securities Received as Collateral
Liabilities
Beginning balance	3		0
Realized and Unrealized Gains (Losses)	0		0
Purchases	(2)		0
Sales	0		1
Issuances	0		0
Settlements	0		0
Net Transfers	0		0
Ending balance	1		1		0
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	0		0
Securities Sold under Agreements to Repurchase
Liabilities
Beginning balance	154	155	153	154	154
Realized and Unrealized Gains (Losses)	0	2	(1)	1
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	0	0	0	0
Ending balance	154	153	154	153	153
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	0	2	0	1
Other Secured Financings
Liabilities
Beginning balance	168	135	149	278	278
Realized and Unrealized Gains (Losses)	2	0	(5)	(9)
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	187	4	223	21
Settlements	(12)	(3)	(36)	(188)
Net Transfers	0	26	0	42
Ending balance	341	162	341	162	149
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	2	0	4	(6)
Long-term Borrowings
Liabilities
Beginning balance	2,221	1,779	1,934	1,887	1,887
Realized and Unrealized Gains (Losses)	61	72	159	17
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	237	136	853	372
Settlements	(81)	(108)	(213)	(289)
Net Transfers	146	186	47	(32)
Ending balance	2,462	1,921	2,462	1,921	1,934
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	64	72	157	15
Trading Assets | U.S. Agency Securities
Assets
Beginning balance	3
Realized and Unrealized Gains (Losses)	0
Purchases	0
Sales	0
Issuances	0
Settlements	0
Net Transfers	(3)
Ending balance	0		0
Unrealized Gains (Losses) for Level 3 Assets Outstanding	0
Trading Assets | Other Sovereign Government Obligations
Assets
Beginning balance	12	14	41	27	27
Realized and Unrealized Gains (Losses)	0	(1)	(1)	(1)
Purchases	5	0	7	7
Sales	(4)	(1)	(31)	(21)
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	(2)	1	(5)	1
Ending balance	11	13	11	13	41
Unrealized Gains (Losses) for Level 3 Assets Outstanding	0	(1)	0	(1)
Trading Assets | Corporate and Other Debt
Assets
Beginning balance	7,703	7,864	8,044	7,404	7,404
Realized and Unrealized Gains (Losses)	(136)	39	90	88
Purchases	1,207	2,732	2,596	5,101
Sales	(649)	(1,207)	(1,148)	(1,774)
Issuances	0	0	0	0
Settlements	(1,280)	(738)	(2,870)	(1,430)
Net Transfers	167	998	300	299
Ending balance	7,012	9,688	7,012	9,688	8,044
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(96)	34	(76)	(26)
Trading Assets | Corporate and Other Debt | State and Municipal Securities
Assets
Beginning balance	7	4	0
Realized and Unrealized Gains (Losses)	5	0	5
Purchases	12	0	14
Sales	(5)	0	(1)
Issuances	0	0	0
Settlements	0	0	0
Net Transfers	14	(4)	15
Ending balance	33	0	33	0	0
Unrealized Gains (Losses) for Level 3 Assets Outstanding	5	0	5
Trading Assets | Corporate and Other Debt | Residential Mortgage-backed Securities
Assets
Beginning balance	378	55	175	47	47
Realized and Unrealized Gains (Losses)	3	11	28	34
Purchases	59	33	172	30
Sales	(55)	(7)	(57)	(9)
Issuances	0	0	0	0
Settlements	0	(11)	0	(20)
Net Transfers	19	0	86	(1)
Ending balance	404	81	404	81	175
Unrealized Gains (Losses) for Level 3 Assets Outstanding	4	11	19	29
Trading Assets | Corporate and Other Debt | Commercial Mortgage-backed Securities
Assets
Beginning balance	84	47	96	108	108
Realized and Unrealized Gains (Losses)	(12)	(1)	(17)	11
Purchases	17	1	23	22
Sales	(6)	(3)	(23)	(97)
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	(4)	13	0	13
Ending balance	79	57	79	57	96
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(12)	(2)	(19)	(3)
Trading Assets | Corporate and Other Debt | Asset-backed Securities
Assets
Beginning balance	19	65	76	103	103
Realized and Unrealized Gains (Losses)	0	5	(1)	(3)
Purchases	13	27	22	58
Sales	(7)	(8)	(31)	(93)
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	6	22	(35)	46
Ending balance	31	111	31	111	76
Unrealized Gains (Losses) for Level 3 Assets Outstanding	0	5	4	(3)
Trading Assets | Corporate and Other Debt | Corporate Bonds
Assets
Beginning balance	479	510	386	522	522
Realized and Unrealized Gains (Losses)	(25)	36	(19)	107
Purchases	78	99	155	185
Sales	(228)	(148)	(218)	(302)
Issuances	0	0	0	0
Settlements	(50)	0	(53)	0
Net Transfers	(28)	9	(25)	(6)
Ending balance	226	506	226	506	386
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(6)	38	(16)	84
Trading Assets | Corporate and Other Debt | Collateralized Debt and Loan Obligations
Assets
Beginning balance	660	1,332	1,152	1,468	1,468
Realized and Unrealized Gains (Losses)	(7)	8	141	137
Purchases	80	299	320	716
Sales	(188)	(362)	(709)	(940)
Issuances	0	0	0	0
Settlements	0	(6)	(331)	(109)
Net Transfers	0	0	(28)	(1)
Ending balance	545	1,271	545	1,271	1,152
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(11)	6	(7)	45
Trading Assets | Corporate and Other Debt | Loans and Lending Commitments
Assets
Beginning balance	5,512	5,829	5,874	5,129	5,129
Realized and Unrealized Gains (Losses)	(78)	(20)	(34)	(202)
Purchases	939	2,138	1,860	3,962
Sales	(156)	(676)	(95)	(327)
Issuances	0	0	0	0
Settlements	(1,229)	(721)	(2,461)	(1,299)
Net Transfers	176	957	20	244
Ending balance	5,164	7,507	5,164	7,507	5,874
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(53)	(24)	(62)	(181)
Trading Assets | Corporate and Other Debt | Other Debt
Assets
Beginning balance	564	22	285	27	27
Realized and Unrealized Gains (Losses)	(22)	0	(13)	4
Purchases	9	135	30	128
Sales	(4)	(3)	(14)	(6)
Issuances	0	0	0	0
Settlements	(1)	0	(25)	(2)
Net Transfers	(16)	1	267	4
Ending balance	530	155	530	155	285
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(23)	0	0	3
Trading Assets | Corporate Equities
Assets
Beginning balance	486	243	272	190	190
Realized and Unrealized Gains (Losses)	10	(2)	57	17
Purchases	150	30	437	83
Sales	(80)	(41)	(199)	(47)
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	9	11	8	(2)
Ending balance	575	241	575	241	272
Unrealized Gains (Losses) for Level 3 Assets Outstanding	4	7	67	10
Trading Assets | Net Derivative and Other Contracts
Assets
Beginning balance	(1,676)	(678)	(1,784)	79	79
Realized and Unrealized Gains (Losses)	662	233	296	(287)
Purchases	31	112	143	489
Sales	0	(3)	0	(2)
Issuances	(131)	(126)	(508)	(394)
Settlements	(365)	(218)	529	(400)
Net Transfers	220	144	65	(21)
Ending balance	(1,259)	(536)	(1,259)	(536)	(1,784)
Unrealized Gains (Losses) for Level 3 Assets Outstanding	673	96	247	(440)
Trading Assets | Net Derivative and Other Contracts | Interest Rate Contracts
Assets
Beginning balance	(236)	(109)	(173)	113	113
Realized and Unrealized Gains (Losses)	(137)	(15)	(37)	(4)
Purchases	12	7	16	8
Sales	0	0	0	0
Issuances	(7)	(3)	(22)	(3)
Settlements	74	(17)	277	(61)
Net Transfers	383	150	28	(40)
Ending balance	89	13	89	13	(173)
Unrealized Gains (Losses) for Level 3 Assets Outstanding	(66)	(22)	20	4
Trading Assets | Net Derivative and Other Contracts | Credit Contracts
Assets
Beginning balance	(989)	(710)	(743)	(147)	(147)
Realized and Unrealized Gains (Losses)	210	209	(69)	(434)
Purchases	0	7	6	52
Sales	0	0	0	0
Issuances	(74)	(64)	(94)	(118)
Settlements	86	(108)	86	10
Net Transfers	(38)	(16)	9	(45)
Ending balance	(805)	(682)	(805)	(682)	(743)
Unrealized Gains (Losses) for Level 3 Assets Outstanding	219	140	(89)	(475)
Trading Assets | Net Derivative and Other Contracts | Foreign Exchange Contracts
Assets
Beginning balance	446	109	151	68	68
Realized and Unrealized Gains (Losses)	42	(27)	133	(6)
Purchases	3	6	4	6
Sales	0	(3)	0	(1)
Issuances	0	0	(1)	0
Settlements	(327)	70	(197)	106
Net Transfers	(98)	(1)	(24)	(19)
Ending balance	66	154	66	154	151
Unrealized Gains (Losses) for Level 3 Assets Outstanding	45	(25)	133	(2)
Trading Assets | Net Derivative and Other Contracts | Equity Contracts
Assets
Beginning balance	(2,102)	(1,097)	(2,165)	(831)	(831)
Realized and Unrealized Gains (Losses)	309	(6)	(76)	(19)
Purchases	16	56	115	223
Sales	0	0	0	(1)
Issuances	(50)	(59)	(279)	(273)
Settlements	(187)	(105)	252	(370)
Net Transfers	(27)	23	112	83
Ending balance	(2,041)	(1,188)	(2,041)	(1,188)	(2,165)
Unrealized Gains (Losses) for Level 3 Assets Outstanding	296	(9)	(237)	(66)
Trading Assets | Net Derivative and Other Contracts | Commodity Contracts
Assets
Beginning balance	1,205	1,132	1,146	880	880
Realized and Unrealized Gains (Losses)	238	73	345	177
Purchases	0	36	2	200
Sales	0	0	0	0
Issuances	0	0	(112)	0
Settlements	(11)	(62)	111	(90)
Net Transfers	0	(12)	(60)	0
Ending balance	1,432	1,167	1,432	1,167	1,146
Unrealized Gains (Losses) for Level 3 Assets Outstanding	179	12	420	99
Trading Assets | Net Derivative and Other Contracts | Other Contracts
Assets
Beginning balance		(3)		(4)	(4)
Realized and Unrealized Gains (Losses)		(1)		(1)
Purchases		0		0
Sales		0		0
Issuances		0		0
Settlements		4		5
Net Transfers		0		0
Ending balance		0		0
Unrealized Gains (Losses) for Level 3 Assets Outstanding		0		0
Trading Assets | Investments
Liabilities
Realized and Unrealized Gains (Losses)	37	(4)	17	36
Trading Assets | Investments | Principal Investments
Assets
Beginning balance	581	883	835	2,160	2,160
Realized and Unrealized Gains (Losses)	26	(1)	22	49
Purchases	8	22	20	36
Sales	(50)	(23)	(109)	(124)
Issuances	0	0	0	0
Settlements	0	0	(187)	(1,234)
Net Transfers	(24)	32	(40)	26
Ending balance	541	913	541	913	835
Unrealized Gains (Losses) for Level 3 Assets Outstanding	26	(1)	0	129
Trading Assets | Investments | Other Investments
Assets
Beginning balance	300	380	323	538	538
Realized and Unrealized Gains (Losses)	11	(3)	(5)	(13)
Purchases	1	14	2	17
Sales	0	0	(6)	(11)
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	0	2	(2)	(138)
Ending balance	312	393	312	393	323
Unrealized Gains (Losses) for Level 3 Assets Outstanding	11	(3)	0	(6)
Trading Liabilities | Equity Contracts
Liabilities
Liabilities derivative equity contract increased by					785
Trading Liabilities | Other Sovereign Government Obligations
Liabilities
Beginning balance		0		0	0
Realized and Unrealized Gains (Losses)		0		0
Purchases		0		0
Sales		0		0
Issuances		0		0
Settlements		0		0
Net Transfers		2		2
Ending balance		2		2
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding		0		0
Trading Liabilities | Corporate and Other Debt
Liabilities
Beginning balance	19	68	121	72	72
Realized and Unrealized Gains (Losses)	9	18	11	19
Purchases	(10)	(8)	(26)	(46)
Sales	23	46	44	85
Issuances	0	0	0	0
Settlements	0	(2)	(39)	1
Net Transfers	0	(3)	(66)	(10)
Ending balance	23	83	23	83	121
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	7	6	11	8
Trading Liabilities | Corporate and Other Debt | Corporate Bonds
Liabilities
Beginning balance	15	14	78	22	22
Realized and Unrealized Gains (Losses)	9	1	6	2
Purchases	(10)	(8)	(25)	(46)
Sales	23	46	37	85
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	0	(3)	(65)	(11)
Ending balance	19	48	19	48	78
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	7	1	6	3
Trading Liabilities | Corporate and Other Debt | Lending Commitments
Liabilities
Beginning balance		12	5	2	2
Realized and Unrealized Gains (Losses)		12	5	2
Purchases		0	0	0
Sales		0	0	0
Issuances		0	0	0
Settlements		0	0	0
Net Transfers		0	0	0
Ending balance	0	0	0	0	5
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding		0	5	0
Trading Liabilities | Corporate and Other Debt | Other Debt
Liabilities
Beginning balance	4	42	38	48	48
Realized and Unrealized Gains (Losses)	0	5	0	15
Purchases	0	0	(1)	0
Sales	0	0	7	0
Issuances	0	0	0	0
Settlements	0	(2)	(39)	1
Net Transfers	0	0	(1)	1
Ending balance	4	35	4	35	38
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	0	5	0	5
Trading Liabilities | Corporate Equities
Liabilities
Beginning balance	112	6	45	8	8
Realized and Unrealized Gains (Losses)	72	(5)	90	(6)
Purchases	(50)	(12)	(88)	(16)
Sales	99	2	128	2
Issuances	0	0	0	0
Settlements	0	0	0	0
Net Transfers	8	2	102	3
Ending balance	97	3	97	3	$ 45
Unrealized Gains (Losses) for Level 3 Liabilities Outstanding	$ 73	$ (4)	$ 90	$ (6)

Fair Value Disclosures (Quantit

Fair Value Disclosures (Quantitative Information about and Sensitivity of Significant Unobservable Inputs Used in Recurring Level 3 Fair Value Measurements) (Details) - Recurring - Level 3 $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)$ / MWh$ / PowerCapacityUnit	Dec. 31, 2014USD ($)$ / MWh$ / PowerCapacityUnit
Residential Mortgage-backed Securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 404	$ 175
Residential Mortgage-backed Securities | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)	0.00%	3.00%
Residential Mortgage-backed Securities | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)	80.00%	90.00%
Residential Mortgage-backed Securities | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	36.00%	15.00%
Commercial Mortgage-backed Securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 79	$ 96
Commercial Mortgage-backed Securities | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)	0.00%	0.00%
Commercial Mortgage-backed Securities | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)	9.00%	7.00%
Commercial Mortgage-backed Securities | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	2.00%	1.00%
Asset-backed Securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets		$ 76
Asset-backed Securities | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)		0.00%
Asset-backed Securities | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)		62.00%
Asset-backed Securities | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)		23.00%
Corporate Bonds
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 226	$ 386
Liabilities		$ 78
Corporate Bonds | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)	4.00%	1.00%
Corporate Bonds | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)	119.00%	160.00%
Corporate Bonds | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	83.00%	90.00%
Corporate Bonds | Option Model
Fair Value Inputs
At the Money Volatility		10.00%
Volatility Skew		(1.00%)
Corporate Bonds | Option Model | Weighted Average
Fair Value Inputs
At the Money Volatility		10.00%
Volatility Skew		(1.00%)
Collateralized Debt and Loan Obligations
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 545	$ 1,152
Collateralized Debt and Loan Obligations | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)	45.00%	20.00%
Collateralized Debt and Loan Obligations | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)	103.00%	100.00%
Collateralized Debt and Loan Obligations | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	77.00%	66.00%
Collateralized Debt and Loan Obligations | Correlation Model | Minimum
Fair Value Inputs
Credit Correlation	35.00%	47.00%
Collateralized Debt and Loan Obligations | Correlation Model | Maximum
Fair Value Inputs
Credit Correlation	60.00%	65.00%
Collateralized Debt and Loan Obligations | Correlation Model | Weighted Average
Fair Value Inputs
Credit Correlation	49.00%	56.00%
Loans and Lending Commitments
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 5,164	$ 5,874
Loans and Lending Commitments | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Loan Price	40.00%	15.00%
Loans and Lending Commitments | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Loan Price	103.00%	105.00%
Loans and Lending Commitments | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Loan Price	89.00%	89.00%
Loans and Lending Commitments | Discounted Cash Flow | Minimum
Fair Value Inputs
Implied Weighted Average Cost of Capital	6.00%
Capitalization Rate	4.00%
Loans and Lending Commitments | Discounted Cash Flow | Maximum
Fair Value Inputs
Implied Weighted Average Cost of Capital	8.00%
Capitalization Rate	10.00%
Loans and Lending Commitments | Discounted Cash Flow | Weighted Average
Fair Value Inputs
Implied Weighted Average Cost of Capital	7.00%
Capitalization Rate	4.00%
Loans and Lending Commitments | Corporate Loan Model | Minimum
Fair Value Inputs
Credit Spread	0.72%	0.36%
Loans and Lending Commitments | Corporate Loan Model | Maximum
Fair Value Inputs
Credit Spread	8.31%	7.53%
Loans and Lending Commitments | Corporate Loan Model | Weighted Average
Fair Value Inputs
Credit Spread	5.44%	3.73%
Loans and Lending Commitments | Margin Loan Model | Minimum
Fair Value Inputs
Discount Rate	2.00%	2.00%
Credit Spread	0.80%	1.50%
Volatility Skew	14.00%	3.00%
Loans and Lending Commitments | Margin Loan Model | Maximum
Fair Value Inputs
Discount Rate	6.00%	3.00%
Credit Spread	5.48%	4.51%
Volatility Skew	70.00%	37.00%
Loans and Lending Commitments | Margin Loan Model | Weighted Average
Fair Value Inputs
Discount Rate	4.00%	3.00%
Credit Spread	1.65%	2.16%
Volatility Skew	36.00%	21.00%
Loans and Lending Commitments | Option Model
Fair Value Inputs
Volatility Skew	(1.00%)	(1.00%)
Loans and Lending Commitments | Option Model | Weighted Average
Fair Value Inputs
Volatility Skew	(1.00%)	(1.00%)
Other Debt
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 530	$ 285
Other Debt | Comparable Pricing
Fair Value Inputs
Comparable Bond Price - higher (lower)	11.00%	15.00%
Other Debt | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Loan Price	3.00%	0.00%
Other Debt | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Loan Price	84.00%	75.00%
Other Debt | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	11.00%	15.00%
Comparable Loan Price	65.00%	39.00%
Other Debt | Margin Loan Model | Minimum
Fair Value Inputs
Discount Rate	1.00%
Other Debt | Margin Loan Model | Maximum
Fair Value Inputs
Discount Rate	2.00%
Other Debt | Margin Loan Model | Weighted Average
Fair Value Inputs
Discount Rate	1.00%
Other Debt | Option Model | Minimum
Fair Value Inputs
At the Money Volatility	16.00%	15.00%
Other Debt | Option Model | Maximum
Fair Value Inputs
At the Money Volatility	53.00%	54.00%
Other Debt | Option Model | Weighted Average
Fair Value Inputs
At the Money Volatility	16.00%	15.00%
Corporate Equities
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 575	$ 272
Liabilities	$ 97
Corporate Equities | Comparable Pricing
Fair Value Inputs
Comparable Equity Price	100.00%	100.00%
Corporate Equities | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Equity Price (Liabilities)	0.00%
Comparable Price	59.00%	83.00%
Corporate Equities | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Equity Price (Liabilities)	100.00%
Comparable Price	91.00%	96.00%
Corporate Equities | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Equity Price	100.00%	100.00%
Comparable Equity Price (Liabilities)	80.00%
Comparable Price	78.00%	85.00%
Corporate Equities | Net Asset Value | Minimum
Fair Value Inputs
Discount to Net Asset Value		0.00%
Corporate Equities | Net Asset Value | Maximum
Fair Value Inputs
Discount to Net Asset Value		71.00%
Corporate Equities | Net Asset Value | Weighted Average
Fair Value Inputs
Discount to Net Asset Value		36.00%
Corporate Equities | Market Approach
Fair Value Inputs
EBITDA Multiple	9
Price/Book ratio	0	0
Corporate Equities | Market Approach | Minimum
Fair Value Inputs
EBITDA Multiple		6
Corporate Equities | Market Approach | Maximum
Fair Value Inputs
EBITDA Multiple		9
Corporate Equities | Market Approach | Weighted Average
Fair Value Inputs
EBITDA Multiple	9	8
Price/Book ratio	0	0
Interest Rate Contracts
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 89	$ (173)
Interest Rate Contracts | Option Model
Fair Value Inputs
Inflation Volatility	60.00%
Interest Rate Contracts | Option Model | Minimum
Fair Value Inputs
Interest Rate Volatility Concentration Liquidity Multiple	0	0
Interest Rate Volatility Skew	32.00%	38.00%
Interest Rate Quanto Correlation	(8.00%)	(9.00%)
Interest Rate - Foreign Exchange Correlation	26.00%	28.00%
Interest Rate - Inflation Correlation	(43.00%)	(44.00%)
Inflation Volatility		69.00%
Interest Rate Curve Correlation	24.00%	44.00%
Interest Rate Contracts | Option Model | Maximum
Fair Value Inputs
Interest Rate Volatility Concentration Liquidity Multiple	3	3
Interest Rate Volatility Skew	91.00%	104.00%
Interest Rate Quanto Correlation	37.00%	35.00%
Interest Rate - Foreign Exchange Correlation	62.00%	62.00%
Interest Rate - Inflation Correlation	(41.00%)	(40.00%)
Inflation Volatility		71.00%
Interest Rate Curve Correlation	93.00%	87.00%
Interest Rate Contracts | Option Model | Weighted Average
Fair Value Inputs
Interest Rate Volatility Concentration Liquidity Multiple	2	2
Interest Rate Contracts | Option Model | Simple Average
Fair Value Inputs
Interest Rate Volatility Skew	44.00%	86.00%
Interest Rate Quanto Correlation	2.00%	6.00%
Interest Rate - Foreign Exchange Correlation	44.00%	44.00%
Interest Rate - Inflation Correlation	(43.00%)	(42.00%)
Inflation Volatility	60.00%	70.00%
Interest Rate Curve Correlation	69.00%	73.00%
Interest Rate Contracts | Option Model | Median
Fair Value Inputs
Interest Rate Volatility Skew	43.00%	60.00%
Interest Rate Quanto Correlation	(8.00%)	(6.00%)
Interest Rate - Foreign Exchange Correlation	43.00%	42.00%
Interest Rate - Inflation Correlation	(43.00%)	(43.00%)
Inflation Volatility	60.00%	71.00%
Interest Rate Curve Correlation	75.00%	80.00%
Credit Contracts
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ (805)	$ (743)
Credit Contracts | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - lower (higher)	0.00%	0.00%
Cash Synthetic Basis	5.00%	5.00%
Credit Contracts | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - lower (higher)	75.00%	55.00%
Cash Synthetic Basis	12.00%	13.00%
Credit Contracts | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - lower (higher)	25.00%	18.00%
Cash Synthetic Basis	9.00%	9.00%
Credit Contracts | Correlation Model | Minimum
Fair Value Inputs
Credit Correlation	34.00%	42.00%
Credit Contracts | Correlation Model | Maximum
Fair Value Inputs
Credit Correlation	99.00%	95.00%
Credit Contracts | Correlation Model | Weighted Average
Fair Value Inputs
Credit Correlation	58.00%	63.00%
Foreign Exchange Contracts
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 66	$ 151
Foreign Exchange Contracts | Option Model | Minimum
Fair Value Inputs
Interest Rate Volatility Skew	32.00%
Interest rate curve	0.00%	0.00%
Interest Rate Quanto Correlation	(8.00%)	(9.00%)
Interest Rate - Credit Spread Correlation		(54.00%)
Interest Rate - Foreign Exchange Correlation	26.00%	28.00%
Interest Rate Curve Correlation		44.00%
Foreign Exchange Contracts | Option Model | Maximum
Fair Value Inputs
Interest Rate Volatility Skew	91.00%
Interest rate curve	1.00%	2.00%
Interest Rate Quanto Correlation	37.00%	35.00%
Interest Rate - Credit Spread Correlation		(2.00%)
Interest Rate - Foreign Exchange Correlation	62.00%	62.00%
Interest Rate Curve Correlation		87.00%
Foreign Exchange Contracts | Option Model | Simple Average
Fair Value Inputs
Interest Rate Volatility Skew	44.00%
Interest rate curve	0.00%	1.00%
Interest Rate Quanto Correlation	2.00%	6.00%
Interest Rate - Credit Spread Correlation		(17.00%)
Interest Rate - Foreign Exchange Correlation	44.00%	44.00%
Interest Rate Curve Correlation		73.00%
Foreign Exchange Contracts | Option Model | Median
Fair Value Inputs
Interest Rate Volatility Skew	43.00%
Interest rate curve	0.00%	1.00%
Interest Rate Quanto Correlation	(8.00%)	(6.00%)
Interest Rate - Credit Spread Correlation		(11.00%)
Interest Rate - Foreign Exchange Correlation	43.00%	42.00%
Interest Rate Curve Correlation		80.00%
Equity Contracts
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ (2,041)	$ (2,165)
Liabilities derivative equity contract increased by		$ 785
Equity Contracts | Option Model | Minimum
Fair Value Inputs
At the Money Volatility	16.00%	14.00%
Volatility Skew	(3.00%)	(2.00%)
Equity - Equity Correlation	40.00%	40.00%
Equity - Foreign Exchange Correlation	(50.00%)	(50.00%)
Equity - Interest Rate Correlation	(31.00%)	(18.00%)
Equity Contracts | Option Model | Maximum
Fair Value Inputs
At the Money Volatility	62.00%	51.00%
Volatility Skew	0.00%	0.00%
Equity - Equity Correlation	99.00%	99.00%
Equity - Foreign Exchange Correlation	10.00%	10.00%
Equity - Interest Rate Correlation	50.00%	81.00%
Equity Contracts | Option Model | Weighted Average
Fair Value Inputs
At the Money Volatility	31.00%	29.00%
Volatility Skew	(1.00%)	(1.00%)
Equity - Equity Correlation	72.00%	72.00%
Equity - Foreign Exchange Correlation	(16.00%)	(16.00%)
Equity Contracts | Option Model | Simple Average
Fair Value Inputs
Equity - Interest Rate Correlation	14.00%	26.00%
Equity Contracts | Option Model | Median
Fair Value Inputs
Equity - Interest Rate Correlation	7.00%	11.00%
Commodity Contracts
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 1,432	$ 1,146
Commodity Contracts | Option Model | Minimum
Fair Value Inputs
Forward Power Price (per megawatt hour) | $ / MWh	4	5
Commodity Volatility	10.00%	11.00%
Cross Commodity Correlation	43.00%	33.00%
Commodity Contracts | Option Model | Maximum
Fair Value Inputs
Forward Power Price (per megawatt hour) | $ / MWh	91	106
Commodity Volatility	59.00%	90.00%
Cross Commodity Correlation	100.00%	100.00%
Commodity Contracts | Option Model | Weighted Average
Fair Value Inputs
Forward Power Price (per megawatt hour) | $ / MWh	33	38
Commodity Volatility	18.00%	19.00%
Cross Commodity Correlation	93.00%	93.00%
Principal Investments
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 541	$ 835
Principal Investments | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Equity Price	75.00%	64.00%
Principal Investments | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Equity Price	100.00%	100.00%
Principal Investments | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Equity Price	84.00%	95.00%
Principal Investments | Discounted Cash Flow
Fair Value Inputs
Implied Weighted Average Cost of Capital	14.00%	11.00%
Exit Multiple	10	10
Equity Discount Rate		25.00%
Principal Investments | Discounted Cash Flow | Minimum
Fair Value Inputs
Capitalization Rate	5.00%
Equity Discount Rate	18.00%
Principal Investments | Discounted Cash Flow | Maximum
Fair Value Inputs
Capitalization Rate	10.00%
Equity Discount Rate	35.00%
Principal Investments | Discounted Cash Flow | Weighted Average
Fair Value Inputs
Implied Weighted Average Cost of Capital	14.00%	11.00%
Exit Multiple	10	10
Capitalization Rate	6.00%
Equity Discount Rate	21.00%	25.00%
Principal Investments | Market Approach
Fair Value Inputs
Price / Earnings ratio		23
Principal Investments | Market Approach | Minimum
Fair Value Inputs
EBITDA Multiple	9	4
Forward capacity price (per capacity power unit) | $ / PowerCapacityUnit	5	5
Principal Investments | Market Approach | Maximum
Fair Value Inputs
EBITDA Multiple	19	14
Forward capacity price (per capacity power unit) | $ / PowerCapacityUnit	9	7
Principal Investments | Market Approach | Weighted Average
Fair Value Inputs
EBITDA Multiple	11	10
Price / Earnings ratio		23
Forward capacity price (per capacity power unit) | $ / PowerCapacityUnit	7	7
Other Investments
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Assets	$ 312	$ 323
Other Investments | Comparable Pricing
Fair Value Inputs
Comparable Equity Price	100.00%	100.00%
Other Investments | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Equity Price	100.00%	100.00%
Other Investments | Discounted Cash Flow
Fair Value Inputs
Implied Weighted Average Cost of Capital	10.00%
Exit Multiple	10
Other Investments | Discounted Cash Flow | Minimum
Fair Value Inputs
Implied Weighted Average Cost of Capital		10.00%
Exit Multiple		6
Other Investments | Discounted Cash Flow | Maximum
Fair Value Inputs
Implied Weighted Average Cost of Capital		13.00%
Exit Multiple		9
Other Investments | Discounted Cash Flow | Weighted Average
Fair Value Inputs
Implied Weighted Average Cost of Capital	10.00%	11.00%
Exit Multiple	10	9
Other Investments | Market Approach | Minimum
Fair Value Inputs
EBITDA Multiple	8	9
Other Investments | Market Approach | Maximum
Fair Value Inputs
EBITDA Multiple	14	13
Other Investments | Market Approach | Weighted Average
Fair Value Inputs
EBITDA Multiple	10	10
Short-term Borrowings | Comparable Pricing
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Liabilities	$ 69
Fair Value Inputs
Comparable Equity Price	20.00%
Short-term Borrowings | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Equity Price	20.00%
Securities Sold under Agreements to Repurchase
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Liabilities	$ 154	$ 153
Securities Sold under Agreements to Repurchase | Discounted Cash Flow | Minimum
Fair Value Inputs
Funding Spread	0.96%	0.75%
Securities Sold under Agreements to Repurchase | Discounted Cash Flow | Maximum
Fair Value Inputs
Funding Spread	1.23%	0.91%
Securities Sold under Agreements to Repurchase | Discounted Cash Flow | Weighted Average
Fair Value Inputs
Funding Spread	1.13%	0.86%
Other Secured Financings
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Liabilities	$ 341	$ 149
Other Secured Financings | Comparable Pricing
Fair Value Inputs
Comparable Bond Price - higher (lower)	100.00%
Other Secured Financings | Comparable Pricing | Minimum
Fair Value Inputs
Comparable Bond Price - higher (lower)		99.00%
Other Secured Financings | Comparable Pricing | Maximum
Fair Value Inputs
Comparable Bond Price - higher (lower)		101.00%
Other Secured Financings | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Bond Price - higher (lower)	100.00%	100.00%
Other Secured Financings | Discounted Cash Flow | Minimum
Fair Value Inputs
Discount Rate	4.00%
Funding Spread	1.08%	0.82%
Other Secured Financings | Discounted Cash Flow | Maximum
Fair Value Inputs
Discount Rate	17.00%
Funding Spread	1.30%	0.98%
Other Secured Financings | Discounted Cash Flow | Weighted Average
Fair Value Inputs
Discount Rate	5.00%
Funding Spread	1.19%	0.95%
Long-term Borrowings
Fair Value Inputs, Assets and Liabilities, Quantitative Information
Liabilities	$ 2,462	$ 1,934
Long-term Borrowings | Comparable Pricing
Fair Value Inputs
Comparable Equity Price (Liabilities)	100.00%
Long-term Borrowings | Comparable Pricing | Weighted Average
Fair Value Inputs
Comparable Equity Price (Liabilities)	100.00%
Long-term Borrowings | Correlation Model | Minimum
Fair Value Inputs
Credit Correlation	40.00%	48.00%
Long-term Borrowings | Correlation Model | Maximum
Fair Value Inputs
Credit Correlation	60.00%	65.00%
Long-term Borrowings | Correlation Model | Weighted Average
Fair Value Inputs
Credit Correlation	44.00%	51.00%
Long-term Borrowings | Option Model | Minimum
Fair Value Inputs
At the Money Volatility	22.00%	18.00%
Equity Alpha	25.00%	0.00%
Volatility Skew	(2.00%)	(1.00%)
Equity - Equity Correlation	40.00%	40.00%
Equity - Foreign Exchange Correlation	(70.00%)	(73.00%)
Long-term Borrowings | Option Model | Maximum
Fair Value Inputs
At the Money Volatility	40.00%	32.00%
Equity Alpha	80.00%	94.00%
Volatility Skew	0.00%	0.00%
Equity - Equity Correlation	97.00%	90.00%
Equity - Foreign Exchange Correlation	35.00%	30.00%
Long-term Borrowings | Option Model | Weighted Average
Fair Value Inputs
At the Money Volatility	29.00%	27.00%
Equity Alpha	63.00%	67.00%
Volatility Skew	(1.00%)	0.00%
Equity - Equity Correlation	78.00%	68.00%
Equity - Foreign Exchange Correlation	(42.00%)	(32.00%)

Fair Value Disclosures (Fair Va

Fair Value Disclosures (Fair Value of Investments that Calculate Net Asset Value) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value of Investments that Calculate Net Asset Value
Fair Value	$ 4,278	$ 5,009
Commitment	736	728
Private Equity Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	1,962	2,569
Commitment	597	613
Real Estate Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	1,664	1,753
Commitment	135	112
Long-short Equity Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	447	433
Commitment	$ 0	$ 0
Percent of investments redeemable at least quarterly	32.00%	36.00%
Percent of investments redeemable every six months	48.00%	47.00%
Percent of investments redeemable greater than six months	20.00%	17.00%
Fixed Income/Credit-Related Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	$ 73	$ 76
Commitment	0	0
Event Driven Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	3	39
Commitment	0	0
Multi-strategy Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value	129	139
Commitment	$ 4	$ 3

Fair Value Disclosures (Fair 50

Fair Value Disclosures (Fair Value of Equity Fund and Hedge Fund) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value of Investments that Calculate Net Asset Value
Fair Value, Investments	$ 4,278	$ 5,009
Private Equity Funds
Fair Value of Investments that Calculate Net Asset Value
Fair value of investment to be liquidated (less than 5 years)	139
Fair value of investment to be liquidated (5-10 years)	1,151
Fair value of investment to be liquidated (Over 10 years)	672
Fair Value, Investments	1,962	2,569
Real Estate Funds
Fair Value of Investments that Calculate Net Asset Value
Fair value of investment to be liquidated (less than 5 years)	235
Fair value of investment to be liquidated (5-10 years)	882
Fair value of investment to be liquidated (Over 10 years)	547
Fair Value, Investments	1,664	1,753
Long-short Equity Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value, Investments	$ 447	433
Long-short Equity Hedge Funds | Initial Period Lock-up Restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	1.00%
Long-short Equity Hedge Funds | Gate restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	12.00%
Fixed Income Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value, Investments	$ 73	76
Fixed Income Funds | Initial Period Lock-up Restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	13.00%
Event Driven Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value, Investments	$ 3	39
Event Driven Hedge Funds | Initial Period Lock-up Restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	3.00%
Multi-strategy Hedge Funds
Fair Value of Investments that Calculate Net Asset Value
Fair Value, Investments	$ 129	$ 139
Multi-strategy Hedge Funds | Initial Period Lock-up Restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	37.00%
Multi-strategy Hedge Funds | Gate restrictions
Fair Value of Investments that Calculate Net Asset Value
Percent of investments that cannot be redeemed currently	28.00%

Fair Value Disclosures (Net Gai

Fair Value Disclosures (Net Gains (Losses) Due to Changes in Fair Value for Items Measured at Fair Value Pursuant to the Fair Value Option Election) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Securities Purchased under Agreements to Resell
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	$ 1	$ 0	$ 3	$ 2
Short-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	(85)	7	(127)	(30)
Securities Sold under Agreements to Repurchase
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	(2)	1	(1)	(6)
Long-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	1,008	1,405	1,827	111
Trading
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value attributable to changes in the credit quality of the Company	435	215	742	428
Trading | Securities Purchased under Agreements to Resell
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	(1)	(2)	(4)	(4)
Trading | Short-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	(85)	5	(127)	(32)
Trading | Securities Sold under Agreements to Repurchase
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	0	3	4	(2)
Trading | Long-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	1,137	1,579	2,226	631
Interest Income (Expense) | Securities Purchased under Agreements to Resell
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	2	2	7	6
Interest Income (Expense) | Short-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	0	2	0	2
Interest Income (Expense) | Securities Sold under Agreements to Repurchase
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	(2)	(2)	(5)	(4)
Interest Income (Expense) | Long-term Borrowings
Fair Value Option Quantitative Disclosures
Gains (losses) due to changes in fair value	$ (129)	$ (174)	$ (399)	$ (520)

Fair Value Disclosures (Short-t

Fair Value Disclosures (Short-term and Long-term Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Balance Sheet Captions
Short-term and long-term borrowing, fair value	$ 33,155	$ 33,539
Equity
Balance Sheet Captions
Short-term and long-term borrowing, fair value	17,054	17,253
Interest Rates
Balance Sheet Captions
Short-term and long-term borrowing, fair value	13,614	13,545
Credit and Foreign Exchange Contracts
Balance Sheet Captions
Short-term and long-term borrowing, fair value	1,947	2,105
Commodities
Balance Sheet Captions
Short-term and long-term borrowing, fair value	$ 540	$ 636

Fair Value Disclosures (Gains (

Fair Value Disclosures (Gains (Losses) Due to Changes in Instrument Specific Credit Risk) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Short-term and Long-term Borrowings
Fair Value disclosure
Gains (losses) due to changes in instrument specific credit risk	$ 435	$ 215	$ 742	$ 428
Loans and other debt
Fair Value disclosure
Gains (losses) due to changes in instrument specific credit risk	(32)	25	39	153
Lending Commitments
Fair Value disclosure
Gains (losses) due to changes in instrument specific credit risk	$ 5	$ 2	$ 13	$ 29

Fair Value Disclosures (Net Dif

Fair Value Disclosures (Net Difference between Contractual Principal Amount and Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value Disclosures
Short-term and long-term debt borrowings	$ 694	$ (670)
Loans and other debt	14,186	14,990
Loans 90 or more days past due and/or on non-accrual status	11,798	12,916
Aggregate fair value of loans in non-accrual status including all loans 90 or more days past due	2,070	1,367
Amounts past due 90 days or greater (unpaid principal balance)	$ 916	$ 643

Fair Value Disclosures (Asset55

Fair Value Disclosures (Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Assets
Loans	$ 69,010		$ 69,010		$ 57,119
Other investments	4,282		4,282		4,355
Premises, equipment and software costs	6,259		6,259		6,108
Intangible assets	3,069		3,069		3,159
Goodwill	6,587		6,587		6,588
Other assets	9,160		9,160		10,742
Liabilities
Other liabilities and accrued expenses	(19,129)		(19,129)		(19,441)
Total liabilities	(757,693)		(757,693)		(729,406)
Fair Value
Loans	11,334		11,334		11,962
Other investments	64,687		64,687		69,316
Intangible assets	5		5		$ 6
Global Oil Merchanting Business
Additional Disclosures
Impairment charges recognized in Other revenues	10		69
Nonrecurring
Assets
Loans	5,089	$ 2,672	5,089	$ 2,672
Other investments	0	38	0	38
Premises, equipment and software costs	0	0	0	0
Intangible assets		20		20
Other assets		0		0
Total carrying value	5,089	2,730	5,089	2,730
Liabilities
Other liabilities and accrued expenses	(427)		(427)
Total liabilities	(427)		(427)
Nonrecurring | Other Assets
Fair Value
Gains (losses) in fair value adjustment - Assets		0		(9)
Nonrecurring | Loans
Fair Value
Gains (losses) in fair value adjustment - Assets	12	(45)	(201)	(55)
Nonrecurring | Other Investments
Fair Value
Gains (losses) in fair value adjustment - Assets	0	(2)	(2)	(27)
Nonrecurring | Premises, Equipment and Software Costs
Fair Value
Gains (losses) in fair value adjustment - Assets	(2)	(27)	(24)	(43)
Nonrecurring | Intangible Assets
Fair Value
Gains (losses) in fair value adjustment - Assets		(4)		(6)
Nonrecurring | Total assets
Fair Value
Gains (losses) in fair value adjustment - Assets	10	(78)	(227)	(140)
Nonrecurring | Other Liabilities and accrued expenses
Fair Value
Gains (losses) in fair value adjustment - Liabilities	(144)		(171)
Nonrecurring | Total liabilities
Fair Value
Gains (losses) in fair value adjustment - Liabilities	(144)		(171)
Nonrecurring | Level 1
Fair Value
Loans	0	0	0	0
Other investments	0	0	0	0
Premises, equipment and software costs	0	0	0	0
Intangible assets		0		0
Other assets		0		0
Total assets measured at fair value	0	0	0	0
Other liabilities and accrued expenses	0		0
Total Liabilities, Fair value	0		0
Nonrecurring | Level 2
Fair Value
Loans	3,060	1,996	3,060	1,996
Other investments	0	0	0	0
Premises, equipment and software costs	0	0	0	0
Intangible assets		0		0
Other assets		0		0
Total assets measured at fair value	3,060	1,996	3,060	1,996
Other liabilities and accrued expenses	(365)		(365)
Total Liabilities, Fair value	(365)		(365)
Nonrecurring | Level 3
Fair Value
Loans	2,029	676	2,029	676
Other investments	0	38	0	38
Premises, equipment and software costs	0	0	0	0
Intangible assets		20		20
Other assets		0		0
Total assets measured at fair value	2,029	$ 734	2,029	$ 734
Other liabilities and accrued expenses	(62)		(62)
Total Liabilities, Fair value	$ (62)		$ (62)

Fair Value Disclosures (Financi

Fair Value Disclosures (Financial Instruments Not Measured at FV) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Financial Assets:
Cash and due from banks	$ 19,244	$ 21,381	$ 20,242
Interest bearing deposits with banks	34,274	25,603	$ 35,584
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	35,552	40,607
Securities purchased under agreements to resell	127,206	83,288
Securities borrowed	148,245	136,708
Customer and other receivables	50,070	48,961
Loans	69,010	57,119
Financial Liabilities
Deposits	147,226	133,544
Short-term borrowings	1,982	2,261
Securities sold under agreement to repurchase	58,570	69,949
Securities loaned	20,644	25,219
Other secured financings	10,171	12,085
Customer and other payables	193,775	181,069
Long-term borrowings	160,343	152,772
Carrying Value
Financial Assets:
Cash and due from banks	19,244	21,381
Interest bearing deposits with banks	34,274	25,603
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	35,552	40,607
Investment securities - HTM securities	3,530	100
Securities purchased under agreements to resell	126,397	82,175
Securities borrowed	148,245	136,708
Customer and other receivables	46,134	45,116
Loans	78,209	66,577
Financial Liabilities
Deposits	147,226	133,544
Short-term borrowings	214	496
Securities sold under agreement to repurchase	57,973	69,337
Securities loaned	20,644	25,219
Other secured financings	6,721	7,581
Customer and other payables	190,434	178,373
Long-term borrowings	128,956	120,998
Additional Disclosures
Lending commitments if fully funded	109,800	86,800
Fair Value
Financial Assets:
Cash and due from banks	19,244	21,381
Interest bearing deposits with banks	34,274	25,603
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	35,552	40,607
Investment securities - HTM securities	3,528	100
Securities purchased under agreements to resell	126,397	82,165
Securities borrowed	148,232	136,708
Customer and other receivables	46,028	45,028
Loans	79,026	67,800
Financial Liabilities
Deposits	147,248	133,572
Short-term borrowings	214	496
Securities sold under agreement to repurchase	58,036	69,433
Securities loaned	20,657	25,244
Other secured financings	6,720	7,881
Customer and other payables	190,434	178,373
Long-term borrowings	130,826	124,961
Additional Disclosures
Unfunded lending commitments	1,807	1,178
Fair Value | Level 1
Financial Assets:
Cash and due from banks	19,244	21,381
Interest bearing deposits with banks	34,274	25,603
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	35,552	40,607
Investment securities - HTM securities	1,007	100
Securities purchased under agreements to resell	0	0
Securities borrowed	0	0
Customer and other receivables	0	0
Loans	0	0
Financial Liabilities
Deposits	0	0
Short-term borrowings	0	0
Securities sold under agreement to repurchase	0	0
Securities loaned	0	0
Other secured financings	0	0
Customer and other payables	0	0
Long-term borrowings	0	0
Fair Value | Level 2
Financial Assets:
Cash and due from banks	0	0
Interest bearing deposits with banks	0	0
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	0	0
Investment securities - HTM securities	2,521	0
Securities purchased under agreements to resell	125,731	81,981
Securities borrowed	148,148	136,696
Customer and other receivables	41,230	39,945
Loans	17,317	18,212
Financial Liabilities
Deposits	147,248	133,572
Short-term borrowings	214	496
Securities sold under agreement to repurchase	55,598	63,921
Securities loaned	20,488	24,740
Other secured financings	5,441	5,465
Customer and other payables	190,434	178,373
Long-term borrowings	130,747	124,150
Additional Disclosures
Unfunded lending commitments	1,544	928
Fair Value | Level 3
Financial Assets:
Cash and due from banks	0	0
Interest bearing deposits with banks	0	0
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements	0	0
Investment securities - HTM securities	0	0
Securities purchased under agreements to resell	666	184
Securities borrowed	84	12
Customer and other receivables	4,798	5,083
Loans	61,709	49,588
Financial Liabilities
Deposits	0	0
Short-term borrowings	0	0
Securities sold under agreement to repurchase	2,438	5,512
Securities loaned	169	504
Other secured financings	1,279	2,416
Customer and other payables	0	0
Long-term borrowings	79	811
Additional Disclosures
Unfunded lending commitments	$ 263	$ 250

Derivative Instruments and He57

Derivative Instruments and Hedging Activities (Other Disclosures) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivatives
Embedded derivatives, net fair value	$ 19		$ 19		$ 10
Embedded Derivative notional amount	2,069		2,069		2,069
Recognized gains (losses) related to changes in the fair value of bifurcated embedded derivatives	(6)	$ 5	10	$ (23)
Cash Collateral Receivables	0		0		21
Cash collateral payables	$ 3		$ 3		$ 30

Derivative Instruments and He58

Derivative Instruments and Hedging Activities (Components of Derivative Products) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative Assets
Gross amounts	$ 540,819	$ 676,371
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(507,525)	(639,977)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	33,294	36,394
Amounts not offset against financial instruments collateral	(9,967)	(9,844)
Amounts not offset against other cash collateral	(8)	(19)
Net exposure	23,319	26,531
Derivative assets, which are either not subject to master netting agreements or collateral agreements, or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	6,200	6,500
Derivative Liabilities
Gross amounts	523,862	654,306
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(488,089)	(614,094)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	35,773	40,212
Amounts not offset against financial instruments collateral	(7,702)	(11,918)
Amounts not offset against other cash collateral	(2)	(185)
Net exposure	28,069	28,109
Derivative liabilities, which are either not subject to master netting agreements or collateral agreements, or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	6,900	6,900
Bilateral OTC
Derivative Assets
Gross amounts	379,609	427,079
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(351,265)	(396,582)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	28,344	30,497
Amounts not offset against financial instruments collateral	(9,967)	(9,844)
Amounts not offset against other cash collateral	(8)	(19)
Net exposure	18,369	20,634
Derivative Liabilities
Gross amounts	361,467	410,003
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(332,549)	(375,095)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	28,918	34,908
Amounts not offset against financial instruments collateral	(6,967)	(11,192)
Amounts not offset against other cash collateral	0	(179)
Net exposure	21,951	23,537
Cleared OTC
Derivative Assets
Gross amounts	129,262	217,169
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(127,987)	(215,576)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	1,275	1,593
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral	0	0
Net exposure	1,275	1,593
Derivative Liabilities
Gross amounts	128,153	211,695
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(127,267)	(211,180)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	886	515
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral	(2)	(6)
Net exposure	884	509
Exchange Traded
Derivative Assets
Gross amounts	31,948	32,123
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(28,273)	(27,819)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	3,675	4,304
Amounts not offset against financial instruments collateral	0	0
Amounts not offset against other cash collateral	0	0
Net exposure	3,675	4,304
Derivative Liabilities
Gross amounts	34,242	32,608
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(28,273)	(27,819)
Net amounts presented in the Condensed Consolidated Statements of Financial Condition	5,969	4,789
Amounts not offset against financial instruments collateral	(735)	(726)
Amounts not offset against other cash collateral	0	0
Net exposure	$ 5,234	$ 4,063

Derivative Instruments and He59

Derivative Instruments and Hedging Activities (Fair Value of OTC Derivatives in a Gain Position) (Details) - OTC - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Credit Derivatives
Years to maturity, less than 1	$ 22,370	$ 23,226
Years to maturity, 1 - 3	20,260	20,732
Years to maturity, 3 - 5	12,563	15,735
Years to maturity, over 5	54,733	58,017
Cross-maturity and cash collateral netting	(80,315)	(85,639)
Net exposure post-cash collateral	29,611	32,071
Net exposure post-collateral	19,644	22,227
AAA
Credit Derivatives
Years to maturity, less than 1	260	499
Years to maturity, 1 - 3	289	246
Years to maturity, 3 - 5	895	1,313
Years to maturity, over 5	4,174	4,281
Cross-maturity and cash collateral netting	(4,514)	(5,009)
Net exposure post-cash collateral	1,104	1,330
Net exposure post-collateral	924	1,035
AA
Credit Derivatives
Years to maturity, less than 1	2,599	2,679
Years to maturity, 1 - 3	2,493	2,811
Years to maturity, 3 - 5	1,848	2,704
Years to maturity, over 5	11,978	14,137
Cross-maturity and cash collateral netting	(13,432)	(15,415)
Net exposure post-cash collateral	5,486	6,916
Net exposure post-collateral	2,887	4,719
A
Credit Derivatives
Years to maturity, less than 1	10,807	11,733
Years to maturity, 1 - 3	9,428	10,833
Years to maturity, 3 - 5	5,885	7,585
Years to maturity, over 5	22,520	23,968
Cross-maturity and cash collateral netting	(38,543)	(43,644)
Net exposure post-cash collateral	10,097	10,475
Net exposure post-collateral	6,606	6,520
BBB
Credit Derivatives
Years to maturity, less than 1	4,202	5,119
Years to maturity, 1 - 3	4,711	3,753
Years to maturity, 3 - 5	2,414	2,592
Years to maturity, over 5	12,306	13,132
Cross-maturity and cash collateral netting	(15,682)	(15,844)
Net exposure post-cash collateral	7,951	8,752
Net exposure post-collateral	5,654	6,035
Non-investment Grade
Credit Derivatives
Years to maturity, less than 1	4,502	3,196
Years to maturity, 1 - 3	3,339	3,089
Years to maturity, 3 - 5	1,521	1,541
Years to maturity, over 5	3,755	2,499
Cross-maturity and cash collateral netting	(8,144)	(5,727)
Net exposure post-cash collateral	4,973	4,598
Net exposure post-collateral	$ 3,573	$ 3,918

Derivative Instruments and He60

Derivative Instruments and Hedging Activities (Fair Value of Derivative Instruments Designated and Not Designated as Accounting Hedges by Type of Derivative Contract on a Gross Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative Assets
Total derivatives	$ 540,819	$ 676,371
Cash collateral netting	(56,871)	(63,195)
Counterparty netting	(450,654)	(576,782)
Total derivative assets	33,294	36,394
Derivative Liabilities
Total derivatives	523,862	654,306
Cash collateral netting	(37,435)	(37,312)
Counterparty netting	(450,654)	(576,782)
Total derivative liabilities	35,773	40,212
Derivatives, Notional Amount
Derivative assets	16,034,477	19,389,415
Derivative liabilities	15,063,903	19,180,921
Bilateral OTC
Derivative Assets
Total derivatives	379,609	427,079
Cash collateral netting	(54,391)	(58,541)
Counterparty netting	(296,874)	(338,041)
Total derivative assets	28,344	30,497
Derivative Liabilities
Total derivatives	361,467	410,003
Cash collateral netting	(35,675)	(37,054)
Counterparty netting	(296,874)	(338,041)
Total derivative liabilities	28,918	34,908
Derivatives, Notional Amount
Derivative assets	7,716,656	8,090,757
Derivative liabilities	7,286,290	7,719,141
Cleared OTC
Derivative Assets
Total derivatives	129,262	217,169
Cash collateral netting	(2,480)	(4,654)
Counterparty netting	(125,507)	(210,922)
Total derivative assets	1,275	1,593
Derivative Liabilities
Total derivatives	128,153	211,695
Cash collateral netting	(1,760)	(258)
Counterparty netting	(125,507)	(210,922)
Total derivative liabilities	886	515
Derivatives, Notional Amount
Derivative assets	6,646,316	9,394,335
Derivative liabilities	6,195,876	9,311,657
Exchange Traded
Derivative Assets
Total derivatives	31,948	32,123
Cash collateral netting	0	0
Counterparty netting	(28,273)	(27,819)
Total derivative assets	3,675	4,304
Derivative Liabilities
Total derivatives	34,242	32,608
Cash collateral netting	0	0
Counterparty netting	(28,273)	(27,819)
Total derivative liabilities	5,969	4,789
Derivatives, Notional Amount
Derivative assets	1,671,505	1,904,323
Derivative liabilities	1,581,737	2,150,123
Designated as Accounting Hedges
Derivative Assets
Total derivatives	5,608	5,504
Derivative Liabilities
Total derivatives	198	230
Derivatives, Notional Amount
Derivative assets	88,553	81,639
Derivative liabilities	10,827	11,224
Designated as Accounting Hedges | Bilateral OTC
Derivative Assets
Total derivatives	3,775	4,445
Derivative Liabilities
Total derivatives	98	130
Derivatives, Notional Amount
Derivative assets	44,922	53,686
Derivative liabilities	6,155	3,515
Designated as Accounting Hedges | Cleared OTC
Derivative Assets
Total derivatives	1,833	1,059
Derivative Liabilities
Total derivatives	100	100
Derivatives, Notional Amount
Derivative assets	43,631	27,953
Derivative liabilities	4,672	7,709
Designated as Accounting Hedges | Exchange Traded
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Designated as Accounting Hedges | Interest Rate Contracts
Derivative Assets
Total derivatives	5,393	5,000
Derivative Liabilities
Total derivatives	159	224
Derivatives, Notional Amount
Derivative assets	81,582	72,016
Derivative liabilities	6,519	9,612
Designated as Accounting Hedges | Interest Rate Contracts | Bilateral OTC
Derivative Assets
Total derivatives	3,565	3,947
Derivative Liabilities
Total derivatives	61	125
Derivatives, Notional Amount
Derivative assets	38,389	44,324
Derivative liabilities	2,000	2,024
Designated as Accounting Hedges | Interest Rate Contracts | Cleared OTC
Derivative Assets
Total derivatives	1,828	1,053
Derivative Liabilities
Total derivatives	98	99
Derivatives, Notional Amount
Derivative assets	43,193	27,692
Derivative liabilities	4,519	7,588
Designated as Accounting Hedges | Interest Rate Contracts | Exchange Traded
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Designated as Accounting Hedges | Foreign Exchange Contracts
Derivative Assets
Total derivatives	215	504
Derivative Liabilities
Total derivatives	39	6
Derivatives, Notional Amount
Derivative assets	6,971	9,623
Derivative liabilities	4,308	1,612
Designated as Accounting Hedges | Foreign Exchange Contracts | Bilateral OTC
Derivative Assets
Total derivatives	210	498
Derivative Liabilities
Total derivatives	37	5
Derivatives, Notional Amount
Derivative assets	6,533	9,362
Derivative liabilities	4,155	1,491
Designated as Accounting Hedges | Foreign Exchange Contracts | Cleared OTC
Derivative Assets
Total derivatives	5	6
Derivative Liabilities
Total derivatives	2	1
Derivatives, Notional Amount
Derivative assets	438	261
Derivative liabilities	153	121
Designated as Accounting Hedges | Foreign Exchange Contracts | Exchange Traded
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges
Derivative Assets
Total derivatives	535,211	670,867
Derivative Liabilities
Total derivatives	523,664	654,076
Derivatives, Notional Amount
Derivative assets	15,945,924	19,307,776
Derivative liabilities	15,053,076	19,169,697
Not Designated as Accounting Hedges | Bilateral OTC
Derivative Assets
Total derivatives	375,834	422,634
Derivative Liabilities
Total derivatives	361,369	409,873
Derivatives, Notional Amount
Derivative assets	7,671,734	8,037,071
Derivative liabilities	7,280,135	7,715,626
Not Designated as Accounting Hedges | Cleared OTC
Derivative Assets
Total derivatives	127,429	216,110
Derivative Liabilities
Total derivatives	128,053	211,595
Derivatives, Notional Amount
Derivative assets	6,602,685	9,366,382
Derivative liabilities	6,191,204	9,303,948
Not Designated as Accounting Hedges | Exchange Traded
Derivative Assets
Total derivatives	31,948	32,123
Derivative Liabilities
Total derivatives	34,242	32,608
Derivatives, Notional Amount
Derivative assets	1,671,505	1,904,323
Derivative liabilities	1,581,737	2,150,123
Not Designated as Accounting Hedges | Interest Rate Contracts
Derivative Assets
Total derivatives	366,130	493,173
Derivative Liabilities
Total derivatives	349,498	472,354
Derivatives, Notional Amount
Derivative assets	12,218,718	15,509,463
Derivative liabilities	11,463,017	15,468,324
Not Designated as Accounting Hedges | Interest Rate Contracts | Bilateral OTC
Derivative Assets
Total derivatives	242,212	281,214
Derivative Liabilities
Total derivatives	224,805	264,579
Derivatives, Notional Amount
Derivative assets	4,570,771	4,854,953
Derivative liabilities	4,259,745	4,615,886
Not Designated as Accounting Hedges | Interest Rate Contracts | Cleared OTC
Derivative Assets
Total derivatives	123,482	211,552
Derivative Liabilities
Total derivatives	124,372	207,482
Derivatives, Notional Amount
Derivative assets	6,416,792	9,187,454
Derivative liabilities	6,013,571	9,138,417
Not Designated as Accounting Hedges | Interest Rate Contracts | Exchange Traded
Derivative Assets
Total derivatives	436	407
Derivative Liabilities
Total derivatives	321	293
Derivatives, Notional Amount
Derivative assets	1,231,155	1,467,056
Derivative liabilities	1,189,701	1,714,021
Not Designated as Accounting Hedges | Credit Contracts
Derivative Assets
Total derivatives	24,781	32,182
Derivative Liabilities
Total derivatives	24,642	32,109
Derivatives, Notional Amount
Derivative assets	856,521	973,831
Derivative liabilities	782,507	868,235
Not Designated as Accounting Hedges | Credit Contracts | Bilateral OTC
Derivative Assets
Total derivatives	21,246	27,776
Derivative Liabilities
Total derivatives	21,224	28,165
Derivatives, Notional Amount
Derivative assets	684,536	806,441
Derivative liabilities	617,011	714,181
Not Designated as Accounting Hedges | Credit Contracts | Cleared OTC
Derivative Assets
Total derivatives	3,535	4,406
Derivative Liabilities
Total derivatives	3,418	3,944
Derivatives, Notional Amount
Derivative assets	171,985	167,390
Derivative liabilities	165,496	154,054
Not Designated as Accounting Hedges | Credit Contracts | Exchange Traded
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges | Foreign Exchange Contracts
Derivative Assets
Total derivatives	71,035	72,597
Derivative Liabilities
Total derivatives	72,895	72,346
Derivatives, Notional Amount
Derivative assets	2,021,109	1,976,544
Derivative liabilities	1,989,703	1,960,416
Not Designated as Accounting Hedges | Foreign Exchange Contracts | Bilateral OTC
Derivative Assets
Total derivatives	70,521	72,362
Derivative Liabilities
Total derivatives	72,572	72,156
Derivatives, Notional Amount
Derivative assets	1,964,784	1,955,343
Derivative liabilities	1,968,292	1,947,178
Not Designated as Accounting Hedges | Foreign Exchange Contracts | Cleared OTC
Derivative Assets
Total derivatives	412	152
Derivative Liabilities
Total derivatives	263	169
Derivatives, Notional Amount
Derivative assets	13,908	11,538
Derivative liabilities	12,137	11,477
Not Designated as Accounting Hedges | Foreign Exchange Contracts | Exchange Traded
Derivative Assets
Total derivatives	102	83
Derivative Liabilities
Total derivatives	60	21
Derivatives, Notional Amount
Derivative assets	42,417	9,663
Derivative liabilities	9,274	1,761
Not Designated as Accounting Hedges | Equity Contracts
Derivative Assets
Total derivatives	51,660	48,124
Derivative Liabilities
Total derivatives	57,411	55,572
Derivatives, Notional Amount
Derivative assets	651,254	570,527
Derivative liabilities	644,891	642,089
Not Designated as Accounting Hedges | Equity Contracts | Bilateral OTC
Derivative Assets
Total derivatives	25,261	23,208
Derivative Liabilities
Total derivatives	28,858	30,061
Derivatives, Notional Amount
Derivative assets	356,509	299,363
Derivative liabilities	351,276	339,884
Not Designated as Accounting Hedges | Equity Contracts | Cleared OTC
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges | Equity Contracts | Exchange Traded
Derivative Assets
Total derivatives	26,399	24,916
Derivative Liabilities
Total derivatives	28,553	25,511
Derivatives, Notional Amount
Derivative assets	294,745	271,164
Derivative liabilities	293,615	302,205
Not Designated as Accounting Hedges | Commodity Contracts
Derivative Assets
Total derivatives	21,241	24,415
Derivative Liabilities
Total derivatives	19,167	21,523
Derivatives, Notional Amount
Derivative assets	190,754	272,232
Derivative liabilities	168,788	225,155
Not Designated as Accounting Hedges | Commodity Contracts | Bilateral OTC
Derivative Assets
Total derivatives	16,230	17,698
Derivative Liabilities
Total derivatives	13,859	14,740
Derivatives, Notional Amount
Derivative assets	87,566	115,792
Derivative liabilities	79,641	93,019
Not Designated as Accounting Hedges | Commodity Contracts | Cleared OTC
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges | Commodity Contracts | Exchange Traded
Derivative Assets
Total derivatives	5,011	6,717
Derivative Liabilities
Total derivatives	5,308	6,783
Derivatives, Notional Amount
Derivative assets	103,188	156,440
Derivative liabilities	89,147	132,136
Not Designated as Accounting Hedges | Other Contracts
Derivative Assets
Total derivatives	364	376
Derivative Liabilities
Total derivatives	51	172
Derivatives, Notional Amount
Derivative assets	7,568	5,179
Derivative liabilities	4,170	5,478
Not Designated as Accounting Hedges | Other Contracts | Bilateral OTC
Derivative Assets
Total derivatives	364	376
Derivative Liabilities
Total derivatives	51	172
Derivatives, Notional Amount
Derivative assets	7,568	5,179
Derivative liabilities	4,170	5,478
Not Designated as Accounting Hedges | Other Contracts | Cleared OTC
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges | Other Contracts | Exchange Traded
Derivative Assets
Total derivatives	0	0
Derivative Liabilities
Total derivatives	0	0
Derivatives, Notional Amount
Derivative assets	0	0
Derivative liabilities	0	0
Not Designated as Accounting Hedges | Future Contracts | Long
Derivatives, Notional Amount
Derivative notional amount	886,000	685,000
Not Designated as Accounting Hedges | Future Contracts | Short
Derivatives, Notional Amount
Derivative notional amount	950,000	1,122,000
Not Designated as Accounting Hedges | Future Contracts | Customer and Other Receivables
Derivatives, Notional Amount
Derivative assets, unsettled fair value	432,000	472
Not Designated as Accounting Hedges | Future Contracts | Customer and Other Payables
Derivatives, Notional Amount
Derivative liabilities, unsettled fair value	$ 9	$ 21

Derivative Instruments and He61

Derivative Instruments and Hedging Activities (Gains or Losses on Derivative Instruments, Related Hedge Items and Hedge Ineffectiveness) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Designated as Accounting Hedges | Interest Expense
Derivatives
Gains (Losses) on Fair Value Hedges Recognized	$ 197	$ 373	$ 776	$ 976
Designated as Accounting Hedges | Interest Expense | Derivatives
Derivatives
Gains (Losses) on Fair Value Hedges Recognized	1,531	(384)	390	547
Designated as Accounting Hedges | Interest Expense | Borrowings
Derivatives
Gains (Losses) on Fair Value Hedges Recognized	(1,334)	757	386	429
Not Designated as Accounting Hedges
Derivatives
Gains (Losses) Recognized in Income	8,272	757	2,308	(1,342)
Not Designated as Accounting Hedges | Interest Rate Contracts
Derivatives
Gains (Losses) Recognized in Income	103	(37)	579	(1,847)
Not Designated as Accounting Hedges | Credit Contracts
Derivatives
Gains (Losses) Recognized in Income	99	407	(110)	258
Not Designated as Accounting Hedges | Foreign Exchange Contracts
Derivatives
Gains (Losses) Recognized in Income	3,570	191	(1,224)	1,795
Not Designated as Accounting Hedges | Equity Contracts
Derivatives
Gains (Losses) Recognized in Income	3,678	114	1,658	(2,212)
Not Designated as Accounting Hedges | Commodity Contracts
Derivatives
Gains (Losses) Recognized in Income	787	60	1,435	531
Not Designated as Accounting Hedges | Other Contracts
Derivatives
Gains (Losses) Recognized in Income	35	22	(30)	133
Net Investment Hedges | Designated as Accounting Hedges
Derivatives
Gain (Losses) Recognized in OCI (effective portion)	210	438	391	262
Net Investment Hedges | Designated as Accounting Hedges | Foreign Exchange Contracts
Derivatives
Gain (Losses) Recognized in OCI (effective portion)	210	438	391	262
Gain (loss) recognized in interest income and related to the forward points on the hedging instruments were excluded from hedge effectiveness testing and recognized.	$ (37)	$ (46)	$ (117)	$ (143)

Derivative Instruments and He62

Derivative Instruments and Hedging Activities (Credit Risk Related Contingencies) (Details) $ in Millions	Sep. 30, 2015USD ($)
Derivatives
Aggregate fair value of derivative contracts that contain credit-risk-related contingent features that are in a net liability position	$ 26,700
Posted collateral	22,247
Bilateral arrangement
Derivatives
Amount of additional collateral or termination payments that could be called by counterparties	1,879
One-notch Downgrade
Derivatives
Amount of additional collateral or termination payments that could be called by counterparties	1,111
Two-notch Downgrade
Derivatives
Amount of additional collateral or termination payments that could be called by counterparties	$ 1,251

Derivative Instruments and He63

Derivative Instruments and Hedging Activities (Notional and Fair Value of Protection Sold and Purchased through Credit Default Swaps) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Protection Sold
Credit Derivatives
Derivative notional amount	$ 798,733	$ 909,273
Credit risk derivative (assets) / liability, fair value	(1,343)	(7,111)
Protection Sold | Less than 1 Year
Credit Derivatives
Derivative notional amount	164,282	188,408
Protection Sold | 1 - 3 Years
Credit Derivatives
Derivative notional amount	384,515	439,538
Protection Sold | 3 - 5 Years
Credit Derivatives
Derivative notional amount	171,998	233,887
Protection Sold | Over 5 Years
Credit Derivatives
Derivative notional amount	77,938	47,440
Protection Sold | Credit Default Swaps
Credit Derivatives
Derivative notional amount	797,537	908,062
Credit risk derivative (assets) / liability, fair value	(301)	(6,611)
Protection Sold | Credit Default Swaps | Less than 1 Year
Credit Derivatives
Derivative notional amount	164,281	188,357
Protection Sold | Credit Default Swaps | 1 - 3 Years
Credit Derivatives
Derivative notional amount	383,709	438,999
Protection Sold | Credit Default Swaps | 3 - 5 Years
Credit Derivatives
Derivative notional amount	171,658	233,886
Protection Sold | Credit Default Swaps | Over 5 Years
Credit Derivatives
Derivative notional amount	77,889	46,820
Protection Sold | Single Name Credit Default Swaps
Credit Derivatives
Derivative notional amount	458,768	535,415
Credit risk derivative (assets) / liability, fair value	1,241	(2,479)
Protection Sold | Single Name Credit Default Swaps | AAA
Credit Derivatives
Derivative notional amount	24,561	18,624
Credit risk derivative (assets) / liability, fair value	(253)	(113)
Protection Sold | Single Name Credit Default Swaps | AA
Credit Derivatives
Derivative notional amount	40,991	50,868
Credit risk derivative (assets) / liability, fair value	(433)	(688)
Protection Sold | Single Name Credit Default Swaps | A
Credit Derivatives
Derivative notional amount	68,706	100,179
Credit risk derivative (assets) / liability, fair value	(803)	(1,962)
Protection Sold | Single Name Credit Default Swaps | BBB
Credit Derivatives
Derivative notional amount	189,626	237,096
Credit risk derivative (assets) / liability, fair value	(325)	(1,489)
Protection Sold | Single Name Credit Default Swaps | Non-investment Grade
Credit Derivatives
Derivative notional amount	134,884	128,648
Credit risk derivative (assets) / liability, fair value	3,055	1,773
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year
Credit Derivatives
Derivative notional amount	110,456	112,730
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year | AAA
Credit Derivatives
Derivative notional amount	4,247	2,385
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year | AA
Credit Derivatives
Derivative notional amount	9,247	9,080
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year | A
Credit Derivatives
Derivative notional amount	18,861	22,861
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year | BBB
Credit Derivatives
Derivative notional amount	43,071	48,547
Protection Sold | Single Name Credit Default Swaps | Less than 1 Year | Non-investment Grade
Credit Derivatives
Derivative notional amount	35,030	29,857
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years
Credit Derivatives
Derivative notional amount	227,722	265,842
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years | AAA
Credit Derivatives
Derivative notional amount	13,475	9,400
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years | AA
Credit Derivatives
Derivative notional amount	18,450	23,701
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years | A
Credit Derivatives
Derivative notional amount	36,875	52,291
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years | BBB
Credit Derivatives
Derivative notional amount	92,864	114,384
Protection Sold | Single Name Credit Default Swaps | 1 - 3 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	66,058	66,066
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years
Credit Derivatives
Derivative notional amount	97,724	132,639
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years | AAA
Credit Derivatives
Derivative notional amount	5,252	6,147
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years | AA
Credit Derivatives
Derivative notional amount	10,605	14,769
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years | A
Credit Derivatives
Derivative notional amount	11,145	22,083
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years | BBB
Credit Derivatives
Derivative notional amount	41,808	60,629
Protection Sold | Single Name Credit Default Swaps | 3 - 5 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	28,914	29,011
Protection Sold | Single Name Credit Default Swaps | Over 5 Years
Credit Derivatives
Derivative notional amount	22,866	24,204
Protection Sold | Single Name Credit Default Swaps | Over 5 Years | AAA
Credit Derivatives
Derivative notional amount	1,587	692
Protection Sold | Single Name Credit Default Swaps | Over 5 Years | AA
Credit Derivatives
Derivative notional amount	2,689	3,318
Protection Sold | Single Name Credit Default Swaps | Over 5 Years | A
Credit Derivatives
Derivative notional amount	1,825	2,944
Protection Sold | Single Name Credit Default Swaps | Over 5 Years | BBB
Credit Derivatives
Derivative notional amount	11,883	13,536
Protection Sold | Single Name Credit Default Swaps | Over 5 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	4,882	3,714
Protection Sold | Total Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	338,769	372,647
Credit risk derivative (assets) / liability, fair value	(1,542)	(4,132)
Protection Sold | Total Index and Basket Credit Default Swaps | AAA
Credit Derivatives
Derivative notional amount	57,849	57,897
Credit risk derivative (assets) / liability, fair value	(1,006)	(985)
Protection Sold | Total Index and Basket Credit Default Swaps | AA
Credit Derivatives
Derivative notional amount		10,796
Credit risk derivative (assets) / liability, fair value		(270)
Protection Sold | Total Index and Basket Credit Default Swaps | A
Credit Derivatives
Derivative notional amount	15,651	18,308
Credit risk derivative (assets) / liability, fair value	(197)	(465)
Protection Sold | Total Index and Basket Credit Default Swaps | BBB
Credit Derivatives
Derivative notional amount	121,794	138,711
Credit risk derivative (assets) / liability, fair value	(818)	(2,904)
Protection Sold | Total Index and Basket Credit Default Swaps | Non-investment Grade
Credit Derivatives
Derivative notional amount	143,475	146,935
Credit risk derivative (assets) / liability, fair value	479	492
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year
Credit Derivatives
Derivative notional amount	53,825	75,627
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year | AAA
Credit Derivatives
Derivative notional amount	14,890	17,625
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year | AA
Credit Derivatives
Derivative notional amount		704
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year | A
Credit Derivatives
Derivative notional amount	4,700	1,283
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year | BBB
Credit Derivatives
Derivative notional amount	9,904	30,265
Protection Sold | Total Index and Basket Credit Default Swaps | Less than 1 Year | Non-investment Grade
Credit Derivatives
Derivative notional amount	24,331	25,750
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years
Credit Derivatives
Derivative notional amount	155,987	173,157
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years | AAA
Credit Derivatives
Derivative notional amount	41,296	31,124
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years | AA
Credit Derivatives
Derivative notional amount		6,512
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years | A
Credit Derivatives
Derivative notional amount	4,668	6,841
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years | BBB
Credit Derivatives
Derivative notional amount	27,045	40,575
Protection Sold | Total Index and Basket Credit Default Swaps | 1 - 3 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	82,978	88,105
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years
Credit Derivatives
Derivative notional amount	73,934	101,247
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years | AAA
Credit Derivatives
Derivative notional amount	1,663	7,265
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years | AA
Credit Derivatives
Derivative notional amount		716
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years | A
Credit Derivatives
Derivative notional amount	6,271	10,154
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years | BBB
Credit Derivatives
Derivative notional amount	49,952	60,141
Protection Sold | Total Index and Basket Credit Default Swaps | 3 - 5 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	16,048	22,971
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years
Credit Derivatives
Derivative notional amount	55,023	22,616
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years | AAA
Credit Derivatives
Derivative notional amount	0	1,883
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years | AA
Credit Derivatives
Derivative notional amount		2,864
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years | A
Credit Derivatives
Derivative notional amount	12	30
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years | BBB
Credit Derivatives
Derivative notional amount	34,893	7,730
Protection Sold | Total Index and Basket Credit Default Swaps | Over 5 Years | Non-investment Grade
Credit Derivatives
Derivative notional amount	20,118	10,109
Protection Sold | Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	264,416	276,465
Credit risk derivative (assets) / liability, fair value	(148)	(1,777)
Protection Sold | Tranched Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	74,353	96,182
Credit risk derivative (assets) / liability, fair value	(1,394)	(2,355)
Protection Sold | Single Name, and Non-tranched Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	721,000	805,000
Protection Sold | Other Credit Contracts
Credit Derivatives
Derivative notional amount	1,196	1,211
Credit risk derivative (assets) / liability, fair value	(1,042)	(500)
Protection Sold | Other Credit Contracts | Less than 1 Year
Credit Derivatives
Derivative notional amount	1	51
Protection Sold | Other Credit Contracts | 1 - 3 Years
Credit Derivatives
Derivative notional amount	806	539
Protection Sold | Other Credit Contracts | 3 - 5 Years
Credit Derivatives
Derivative notional amount	340	1
Protection Sold | Other Credit Contracts | Over 5 Years
Credit Derivatives
Derivative notional amount	49	620
Protection Purchased | Credit Default Swaps
Credit Derivatives
Derivative notional amount	841,491	934,004
Credit risk derivative (assets) / liability, fair value	162	6,538
Protection Purchased | Single Name Credit Default Swaps
Credit Derivatives
Derivative notional amount	439,328	509,872
Credit risk derivative (assets) / liability, fair value	(593)	1,641
Protection Purchased | Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	231,528	229,789
Credit risk derivative (assets) / liability, fair value	(68)	1,563
Protection Purchased | Tranched Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	170,635	194,343
Credit risk derivative (assets) / liability, fair value	823	3,334
Protection Purchased | Single Name, and Non-tranched Index and Basket Credit Default Swaps
Credit Derivatives
Derivative notional amount	$ 668,000	$ 731,000

Investment Securities (Schedule

Investment Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Investment Securities
Total Investment securities, Amortized cost	$ 64,697	$ 69,437
Total Investment securities, Gross unrealized gains	252	159
Total Investment securities, Gross unrealized losses	262	280
Total Investment Securities, Other-than-Temporary Impairment	0	0
Total Investment securities, Fair value	64,687	69,316
AFS securities
Total AFS securities, Fair value	$ 61,159	$ 69,216
FFELP Student Loan Asset-backed Securities
Investment Securities
Percent of principal balance and interest guaranteed by the U.S. Department of Education	95.00%	95.00%
AFS securities
AFS securities
Total AFS securities, Amortized cost	$ 61,167	$ 69,337
Total AFS securities, Gross unrealized gains	246	159
Total AFS securities, Gross unrealized loss	254	280
Total AFS securities, Other-than-Temporary impairment	0	0
Total AFS securities, Fair value	61,159	69,216
AFS Debt Securities
AFS securities
AFS debt securities, Amortized cost	61,152	69,322
AFS debt securities, Gross unrealized gains	246	159
AFS debt securities, Gross unrealized losses	251	276
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	61,147	69,205
AFS Debt Securities | U.S. Government and Agency Securities
AFS securities
AFS debt securities, Amortized cost	45,718	53,885
AFS debt securities, Gross unrealized gains	209	119
AFS debt securities, Gross unrealized losses	71	139
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	45,856	53,865
AFS Debt Securities | U.S. Treasury Securities
AFS securities
AFS debt securities, Amortized cost	24,718	35,855
AFS debt securities, Gross unrealized gains	119	42
AFS debt securities, Gross unrealized losses	3	67
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	24,834	35,830
AFS Debt Securities | U.S. Agency Securities
AFS securities
AFS debt securities, Amortized cost	21,000	18,030
AFS debt securities, Gross unrealized gains	90	77
AFS debt securities, Gross unrealized losses	68	72
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	21,022	18,035
AFS Debt Securities | Corporate and Other Debt
AFS securities
AFS debt securities, Amortized cost	15,434	15,437
AFS debt securities, Gross unrealized gains	37	40
AFS debt securities, Gross unrealized losses	180	137
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	15,291	15,340
AFS Debt Securities | Agency
AFS securities
AFS debt securities, Amortized cost	1,996	2,288
AFS debt securities, Gross unrealized gains	4	1
AFS debt securities, Gross unrealized losses	44	76
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	1,956	2,213
AFS Debt Securities | Non-Agency
AFS securities
AFS debt securities, Amortized cost	2,174	1,820
AFS debt securities, Gross unrealized gains	16	11
AFS debt securities, Gross unrealized losses	12	6
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	2,178	1,825
AFS Debt Securities | Auto Loan Asset-backed Securities
AFS securities
AFS debt securities, Amortized cost	2,679	2,433
AFS debt securities, Gross unrealized gains	3	0
AFS debt securities, Gross unrealized losses	1	5
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	2,681	2,428
AFS Debt Securities | Corporate Bonds
AFS securities
AFS debt securities, Amortized cost	3,866	3,640
AFS debt securities, Gross unrealized gains	14	10
AFS debt securities, Gross unrealized losses	17	22
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	3,863	3,628
AFS Debt Securities | Collateralized Loan Obligations
AFS securities
AFS debt securities, Amortized cost	912	1,087
AFS debt securities, Gross unrealized gains	0	0
AFS debt securities, Gross unrealized losses	13	20
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	899	1,067
AFS Debt Securities | FFELP Student Loan Asset-backed Securities
AFS securities
AFS debt securities, Amortized cost	3,807	4,169
AFS debt securities, Gross unrealized gains	0	18
AFS debt securities, Gross unrealized losses	93	8
AFS debt securities, Other-than-Temporary Impairment	0	0
AFS debt securities, Fair value	3,714	4,179
AFS Equity Securities
AFS securities
AFS equity securities, Amortized cost	15	15
AFS equity securities, Gross unrealized gains	0	0
AFS equity securities, Gross unrealized losses	3	4
AFS equity securities, Other-than-Temporary Impairment	0	0
AFS equity securities, Fair value	12	11
HTM securities
HTM securities:
HTM - Amortized Cost	3,530	100
HTM - Gross Unrealized Gains	6	0
HTM - Gross Unrealized Losses	8	0
HTM - Other-than-Temporary Impairment	0	0
HTM - Fair Value	3,528	100
HTM securities | U.S. Treasury Securities
HTM securities:
HTM - Amortized Cost	1,002	100
HTM - Gross Unrealized Gains	5	0
HTM - Gross Unrealized Losses	0	0
HTM - Other-than-Temporary Impairment	0	0
HTM - Fair Value	1,007	$ 100
HTM securities | U.S. Agency Securities
HTM securities:
HTM - Amortized Cost	2,528
HTM - Gross Unrealized Gains	1
HTM - Gross Unrealized Losses	8
HTM - Other-than-Temporary Impairment	0
HTM - Fair Value	$ 2,521

Investment Securities (Schedu65

Investment Securities (Schedule of Investment Securities in an Unrealized Loss Position) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
HTM securities:
HTM - Fair Value, Less than 12 Months	$ 1,921
HTM - Fair Value, 12 Months or Longer	0
HTM - Fair Value, Total	1,921
HTM - Gross Unrealized Losses, Less than 12 Months	8
HTM - Gross Unrealized Losses, 12 Months or Longer	0
HTM - Gross Unrealized Losses, Total	8
Investment securities - Fair Value, Less than 12 Months	17,418	$ 19,370
Investment securities - Fair Value, 12 Months or Longer	6,223	14,984
Investment securities - Fair Value	23,641	34,354
Investment securities - Gross Unrealized Loss, Less than 12 Months	121	44
Investment securities - Gross Unrealized Loss, 12 Months or Longer	141	236
Investment securities - Gross Unrealized Loss	262	280
U.S. Agency Securities
HTM securities:
HTM - Fair Value, Less than 12 Months	1,921
HTM - Fair Value, 12 Months or Longer	0
HTM - Fair Value, Total	1,921
HTM - Gross Unrealized Losses, Less than 12 Months	8
HTM - Gross Unrealized Losses, 12 Months or Longer	0
HTM - Gross Unrealized Losses, Total	8
AFS securities
Investment Securities
AFS - Fair Value, Less than 12 Months	15,497
AFS - Fair Value, 12 Months or Longer	6,223
AFS - Fair Value, Total	21,720
AFS - Gross Unrealized Losses, Less than 12 Months	113
AFS - Gross Unrealized Losses, 12 Months or Longer	141
AFS - Gross Unrealized Losses, Total	254
AFS Debt Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	15,485	19,359
AFS - Fair Value, 12 Months or Longer	6,223	14,984
AFS - Fair Value, Total	21,708	34,343
AFS - Gross Unrealized Losses, Less than 12 Months	110	40
AFS - Gross Unrealized Losses, 12 Months or Longer	141	236
AFS - Gross Unrealized Losses, Total	251	276
AFS Debt Securities | U.S. Government and Agency Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	10,063	14,149
AFS - Fair Value, 12 Months or Longer	1,943	10,057
AFS - Fair Value, Total	12,006	24,206
AFS - Gross Unrealized Losses, Less than 12 Months	34	20
AFS - Gross Unrealized Losses, 12 Months or Longer	37	119
AFS - Gross Unrealized Losses, Total	71	139
AFS Debt Securities | U.S. Treasury Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	1,926	11,410
AFS - Fair Value, 12 Months or Longer	0	5,924
AFS - Fair Value, Total	1,926	17,334
AFS - Gross Unrealized Losses, Less than 12 Months	3	14
AFS - Gross Unrealized Losses, 12 Months or Longer	0	53
AFS - Gross Unrealized Losses, Total	3	67
AFS Debt Securities | U.S. Agency Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	8,137	2,739
AFS - Fair Value, 12 Months or Longer	1,943	4,133
AFS - Fair Value, Total	10,080	6,872
AFS - Gross Unrealized Losses, Less than 12 Months	31	6
AFS - Gross Unrealized Losses, 12 Months or Longer	37	66
AFS - Gross Unrealized Losses, Total	68	72
AFS Debt Securities | Corporate and Other Debt
Investment Securities
AFS - Fair Value, Less than 12 Months	5,422	5,210
AFS - Fair Value, 12 Months or Longer	4,280	4,927
AFS - Fair Value, Total	9,702	10,137
AFS - Gross Unrealized Losses, Less than 12 Months	76	20
AFS - Gross Unrealized Losses, 12 Months or Longer	104	117
AFS - Gross Unrealized Losses, Total	180	137
AFS Debt Securities | Agency
Investment Securities
AFS - Fair Value, Less than 12 Months	43	42
AFS - Fair Value, 12 Months or Longer	1,250	1,822
AFS - Fair Value, Total	1,293	1,864
AFS - Gross Unrealized Losses, Less than 12 Months	0	0
AFS - Gross Unrealized Losses, 12 Months or Longer	44	76
AFS - Gross Unrealized Losses, Total	44	76
AFS Debt Securities | Non-Agency
Investment Securities
AFS - Fair Value, Less than 12 Months	634	706
AFS - Fair Value, 12 Months or Longer	475	346
AFS - Fair Value, Total	1,109	1,052
AFS - Gross Unrealized Losses, Less than 12 Months	6	3
AFS - Gross Unrealized Losses, 12 Months or Longer	6	3
AFS - Gross Unrealized Losses, Total	12	6
AFS Debt Securities | Auto Loan Asset-backed Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	782	2,034
AFS - Fair Value, 12 Months or Longer	309	0
AFS - Fair Value, Total	1,091	2,034
AFS - Gross Unrealized Losses, Less than 12 Months	0	5
AFS - Gross Unrealized Losses, 12 Months or Longer	1	0
AFS - Gross Unrealized Losses, Total	1	5
AFS Debt Securities | Corporate Bonds
Investment Securities
AFS - Fair Value, Less than 12 Months	1,196	905
AFS - Fair Value, 12 Months or Longer	469	1,299
AFS - Fair Value, Total	1,665	2,204
AFS - Gross Unrealized Losses, Less than 12 Months	8	6
AFS - Gross Unrealized Losses, 12 Months or Longer	9	16
AFS - Gross Unrealized Losses, Total	17	22
AFS Debt Securities | Collateralized Loan Obligations
Investment Securities
AFS - Fair Value, Less than 12 Months	0	0
AFS - Fair Value, 12 Months or Longer	900	1,067
AFS - Fair Value, Total	900	1,067
AFS - Gross Unrealized Losses, Less than 12 Months	0	0
AFS - Gross Unrealized Losses, 12 Months or Longer	13	20
AFS - Gross Unrealized Losses, Total	13	20
AFS Debt Securities | FFELP Student Loan Asset-backed Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	2,767	1,523
AFS - Fair Value, 12 Months or Longer	877	393
AFS - Fair Value, Total	3,644	1,916
AFS - Gross Unrealized Losses, Less than 12 Months	62	6
AFS - Gross Unrealized Losses, 12 Months or Longer	31	2
AFS - Gross Unrealized Losses, Total	93	8
AFS Equity Securities
Investment Securities
AFS - Fair Value, Less than 12 Months	12	11
AFS - Fair Value, 12 Months or Longer	0	0
AFS - Fair Value, Total	12	11
AFS - Gross Unrealized Losses, Less than 12 Months	3	4
AFS - Gross Unrealized Losses, 12 Months or Longer	0	0
AFS - Gross Unrealized Losses, Total	$ 3	$ 4

Investment Securities (Schedu66

Investment Securities (Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Date) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Amortized Cost
Total Investment securities - Amortized Cost	$ 64,697	$ 69,437
Fair Value
Available-for-sale Securities, Fair value, total	61,159	69,216
Investment securities, fair value	$ 64,687	69,316
Annualized Average Yield
Total Investment securities, Annualized average yield	1.40%
AFS securities
Amortized Cost
Available-for-sale Securities, amortized Cost, Total	$ 61,167	69,337
Fair Value
Available-for-sale Securities, Fair value, total	$ 61,159	69,216
Annualized Average Yield
Annualized average yield, total	1.30%
AFS Debt Securities
Amortized Cost
AFS debt securities, amortized cost, total	$ 61,152	69,322
Fair Value
AFS debt securities, Fair value, total	$ 61,147	69,205
Annualized Average Yield
Annualized average yield, total	1.30%
AFS Debt Securities | U.S. Government and Agency Securities
Amortized Cost
AFS debt securities, amortized cost, total	$ 45,718	53,885
Fair Value
AFS debt securities, Fair value, total	$ 45,856	53,865
Annualized Average Yield
Annualized average yield, total	1.30%
AFS Debt Securities | U.S. Treasury Securities
Amortized Cost
AFS debt securities, amortized cost, after 1 year through 5 years	$ 24,570
AFS debt securities, amortized cost, after 5 years through 10 years	148
AFS debt securities, amortized cost, total	24,718	35,855
Fair Value
AFS debt securities, after 1 year through 5 years	24,683
AFS debt securities, after 5 years through 10 years	151
AFS debt securities, Fair value, total	$ 24,834	35,830
Annualized Average Yield
Annualized average yield, after 1 year through 5 years	1.10%
Annualized average yield, after 5 years through 10 years	2.10%
AFS Debt Securities | U.S. Agency Securities
Amortized Cost
AFS debt securities, amortized cost, after 1 year through 5 years	$ 2,436
AFS debt securities, amortized cost, after 5 years through 10 years	2,087
AFS debt securities, amortized cost, after 10 years	16,477
AFS debt securities, amortized cost, total	21,000	18,030
Fair Value
AFS debt securities, after 1 year through 5 years	2,437
AFS debt securities, after 5 years through 10 years	2,103
AFS debt securities, after 10 years	16,482
AFS debt securities, Fair value, total	$ 21,022	18,035
Annualized Average Yield
Annualized average yield, after 1 year through 5 years	0.70%
Annualized average yield, after 5 years through 10 years	1.60%
Annualized average yield, after 10 years	1.80%
AFS Debt Securities | Corporate and Other Debt
Amortized Cost
AFS debt securities, amortized cost, total	$ 15,434	15,437
Fair Value
AFS debt securities, Fair value, total	$ 15,291	15,340
Annualized Average Yield
Annualized average yield, total	1.60%
AFS Debt Securities | Agency
Amortized Cost
AFS debt securities, amortized cost, due within 1 year	$ 2
AFS debt securities, amortized cost, after 1 year through 5 years	673
AFS debt securities, amortized cost, after 5 years through 10 years	218
AFS debt securities, amortized cost, after 10 years	1,103
AFS debt securities, amortized cost, total	1,996	2,288
Fair Value
AFS debt securities, due within 1 year	2
AFS debt securities, after 1 year through 5 years	675
AFS debt securities, after 5 years through 10 years	217
AFS debt securities, after 10 years	1,062
AFS debt securities, Fair value, total	$ 1,956	2,213
Annualized Average Yield
Annualized average yield, due within 1 year	0.50%
Annualized average yield, after 1 year through 5 years	0.90%
Annualized average yield, after 5 years through 10 years	1.50%
Annualized average yield, after 10 years	1.50%
AFS Debt Securities | Non-Agency
Amortized Cost
AFS debt securities, amortized cost, after 10 years	$ 2,174
AFS debt securities, amortized cost, total	2,174	1,820
Fair Value
AFS debt securities, after 10 years	2,178
AFS debt securities, Fair value, total	$ 2,178	1,825
Annualized Average Yield
Annualized average yield, after 10 years	1.80%
AFS Debt Securities | Auto Loan Asset-backed Securities
Amortized Cost
AFS debt securities, amortized cost, due within 1 year	$ 11
AFS debt securities, amortized cost, after 1 year through 5 years	2,315
AFS debt securities, amortized cost, after 5 years through 10 years	353
AFS debt securities, amortized cost, total	2,679	2,433
Fair Value
AFS debt securities, due within 1 year	11
AFS debt securities, after 1 year through 5 years	2,316
AFS debt securities, after 5 years through 10 years	354
AFS debt securities, Fair value, total	$ 2,681	2,428
Annualized Average Yield
Annualized average yield, due within 1 year	0.70%
Annualized average yield, after 1 year through 5 years	1.10%
Annualized average yield, after 5 years through 10 years	1.50%
AFS Debt Securities | Corporate Bonds
Amortized Cost
AFS debt securities, amortized cost, due within 1 year	$ 458
AFS debt securities, amortized cost, after 1 year through 5 years	2,694
AFS debt securities, amortized cost, after 5 years through 10 years	714
AFS debt securities, amortized cost, total	3,866	3,640
Fair Value
AFS debt securities, due within 1 year	459
AFS debt securities, after 1 year through 5 years	2,688
AFS debt securities, after 5 years through 10 years	716
AFS debt securities, Fair value, total	$ 3,863	3,628
Annualized Average Yield
Annualized average yield, due within 1 year	1.00%
Annualized average yield, after 1 year through 5 years	1.60%
Annualized average yield, after 5 years through 10 years	2.70%
AFS Debt Securities | Collateralized Loan Obligations
Amortized Cost
AFS debt securities, amortized cost, after 5 years through 10 years	$ 912
AFS debt securities, amortized cost, total	912	1,087
Fair Value
AFS debt securities, after 5 years through 10 years	899
AFS debt securities, Fair value, total	$ 899	1,067
Annualized Average Yield
Annualized average yield, after 5 years through 10 years	1.40%
AFS Debt Securities | FFELP Student Loan Asset-backed Securities
Amortized Cost
AFS debt securities, amortized cost, after 1 year through 5 years	$ 87
AFS debt securities, amortized cost, after 5 years through 10 years	697
AFS debt securities, amortized cost, after 10 years	3,023
AFS debt securities, amortized cost, total	3,807	4,169
Fair Value
AFS debt securities, after 1 year through 5 years	87
AFS debt securities, after 5 years through 10 years	687
AFS debt securities, after 10 years	2,940
AFS debt securities, Fair value, total	$ 3,714	4,179
Annualized Average Yield
Annualized average yield, after 1 year through 5 years	0.70%
Annualized average yield, after 5 years through 10 years	0.90%
Annualized average yield, after 10 years	0.90%
AFS Equity Securities
Amortized Cost
AFS equity securities, Amortized cost	$ 15	15
Fair Value
AFS equity securities, Fair value	$ 12	$ 11
Annualized Average Yield
Annualized average yield, total	0.00%
HTM securities
Amortized Cost
HTM securities: amortized cost, total	$ 3,530
Fair Value
HTM securities, Fair value, total	$ 3,528
Annualized Average Yield
HTM securities: Annualized average yield, total	2.00%
HTM securities | U.S. Treasury Securities
Amortized Cost
HTM securities: amortized cost, after 1 year through 5 years	$ 1,002
HTM securities: amortized cost, total	1,002
Fair Value
HTM securities: after 1 year through 5 years	1,007
HTM securities, Fair value, total	$ 1,007
Annualized Average Yield
HTM securities: Annualized average yield, after 1 years through 5 years	1.00%
HTM securities | U.S. Agency Securities
Amortized Cost
HTM securities: amortized cost, after 10 years	$ 2,528
HTM securities: amortized cost, total	2,528
Fair Value
HTM securities: after 10 years	2,521
HTM securities, Fair value, total	$ 2,521
Annualized Average Yield
HTM securities: Annualized average yield, after 10 year	2.40%

Investment Securities (Schedu67

Investment Securities (Schedule of Proceeds of Sale of Securities Available for Sale) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investment securities:
Gross realized gains	$ 22	$ 20	$ 91	$ 37
Gross realized (losses)	(4)	0	(17)	(1)
Total	$ 18	$ 20	$ 74	$ 36

Collateralized Transactions (Na

Collateralized Transactions (Narrative) (Details) - USD ($) $ in Billions	Sep. 30, 2015	Dec. 31, 2014
Collateralized Agreements
Customer margin loans outstanding	$ 25.7	$ 29
Fair value of financial instruments received as collateral where the Company is permitted to sell or repledge the securities	593	546
Fair value of financial instruments received as collateral where the Company has sold or repledged	438	403
Trading assets	$ 43.1	$ 31.3

Collateralized Transactions (Ba

Collateralized Transactions (Balance Sheet Offsetting) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Securities Purchased under Agreements to Resell
Gross amount	$ 185,825	$ 148,234
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(58,619)	(64,946)
Net amount presented in the Condensed Consolidated Statements of Financial Condition	127,206	83,288
Financial instruments not offset in the Condensed Consolidated Statements of Financial Condition	(122,156)	(79,343)
Net exposure	5,050	3,945
Securities Borrowed
Gross amount	157,456	145,556
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(9,211)	(8,848)
Net amount presented in the Condensed Consolidated Statements of Financial Condition	148,245	136,708
Financial instruments not offset in the Condensed Consolidated Statements of Financial Condition	(141,809)	(128,282)
Net exposure	6,436	8,426
Securities Sold under Agreements to Repurchase
Gross amount	117,189	134,895
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(58,619)	(64,946)
Net amount presented in the Condensed Consolidated Statements of Financial Condition	58,570	69,949
Financial instruments not offset in the Condensed Consolidated Statements of Financial Condition	(48,777)	(56,454)
Net exposure	9,793	13,495
Securities Loaned
Gross amount	29,855	34,067
Amounts offset in the Condensed Consolidated Statements of Financial Condition	(9,211)	(8,848)
Net amount presented in the Condensed Consolidated Statements of Financial Condition	20,644	25,219
Financial instruments not offset in the Condensed Consolidated Statements of Financial Condition	(20,183)	(24,252)
Net exposure	461	967
Securities purchased under agreements to resell, which are either not subject to master netting agreements or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	4,900	3,900
Securities borrowed, which are either not subject to master netting agreements or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	3,500	4,200
Securities sold under agreements to repurchase, which are either not subject to master netting agreements or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	9,700	15,600
Securities loaned, which are either not subject to master netting agreements or are subject to such agreements but the entity has not determined the agreements to be legally enforceable	$ 400	$ 700

Collateralized Transactions (Se

Collateralized Transactions (Secured Financing Transactions) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Securities Financing Transaction
Securities sold under agreements to repurchase	$ 117,189	$ 134,895
Securities loaned	29,855	34,067
Gross amount of secured financing included in the above offseting disclosure	147,044
Obligation to return securities received as collateral	20,328	$ 25,685
Total	167,372
U.S. Government and Agency Securities
Securities Financing Transaction
Securities sold under agreements to repurchase	65,438
State And Municipal Securities
Securities Financing Transaction
Securities sold under agreements to repurchase	51
Other Sovereign Government Obligations
Securities Financing Transaction
Securities sold under agreements to repurchase	35,608
Securities loaned	9,356
Obligation to return securities received as collateral	0
Asset-backed Securities
Securities Financing Transaction
Securities sold under agreements to repurchase	776
Corporate and Other Debt
Securities Financing Transaction
Securities sold under agreements to repurchase	4,426
Securities loaned	176
Corporate Equities
Securities Financing Transaction
Securities sold under agreements to repurchase	10,587
Securities loaned	20,312
Obligation to return securities received as collateral	20,328
Other
Securities Financing Transaction
Securities sold under agreements to repurchase	303
Securities loaned	11
Obligation to return securities received as collateral	0
Overnight and Open
Securities Financing Transaction
Securities sold under agreements to repurchase	46,165
Securities loaned	16,224
Gross amount of secured financing included in the above offseting disclosure	62,389
Obligation to return securities received as collateral	20,328
Total	82,717
Less than 30 days
Securities Financing Transaction
Securities sold under agreements to repurchase	21,392
Securities loaned	2,026
Gross amount of secured financing included in the above offseting disclosure	23,418
Obligation to return securities received as collateral	0
Total	23,418
30-90 days
Securities Financing Transaction
Securities sold under agreements to repurchase	12,312
Securities loaned	2,103
Gross amount of secured financing included in the above offseting disclosure	14,415
Obligation to return securities received as collateral	0
Total	14,415
Over 90 days
Securities Financing Transaction
Securities sold under agreements to repurchase	37,320
Securities loaned	9,502
Gross amount of secured financing included in the above offseting disclosure	46,822
Obligation to return securities received as collateral	0
Total	$ 46,822

Collateralized Transactions (Ca

Collateralized Transactions (Cash And Securities Deposited With Clearing Organizations Or Segregated Under Federal And Other Regulations Or Requirements) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Collateralized Transactions
Cash deposited with clearing organizations or segregated under federal and other regulations or requirements		$ 35,552	$ 40,607
Securities		16,946	14,630
Total		$ 52,498	$ 55,237
Cash Initial Margin Received from Customers and remitted to clearing organizations	$ 3,800

Loans and Allowance for Loan 72

Loans and Allowance for Loan Losses (Outstanding Loans and Credit Quality) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Loans Held for Investments
Loans held for investments, gross	$ 69,183	$ 57,268	$ 51,606
Allowance for loan losses	(173)	(149)	(141)	$ (156)
Loans held for investment, net	69,010	57,119
Loans Held for Sale
Loans held for sale, gross	9,199	9,458
Loans held for sale, net	9,199	9,458
Total Loans
Total loans, gross	78,382	66,726
Allowance for loan losses	(173)	(149)
Total loans, net	78,209	66,577
Total loans, net of allowance, made to foreign borrowers	7,455	7,017
Loans held at fair value	11,334	11,962
Loans at fixed interest rate	7,280	6,663
Loans at floating or adjustable interest rate	70,929	59,914
Pass
Loans Held for Investments
Loans held for investments, gross	67,885	55,409
Special Mention
Loans Held for Investments
Loans held for investments, gross	786	1,683
Substandard
Loans Held for Investments
Loans held for investments, gross	491	174
Doubtful
Loans Held for Investments
Loans held for investments, gross	21	2
Corporate
Loans Held for Investments
Loans held for investments, gross	22,519	19,659	18,589
Allowance for loan losses	(139)	(118)	(117)	(137)
Loans Held for Sale
Loans held for sale, gross	8,509	8,200
Total Loans
Total loans, gross	31,028	27,859
Loans held at fair value	6,762	7,093
Corporate | Pass
Loans Held for Investments
Loans held for investments, gross	21,265	17,847
Corporate | Special Mention
Loans Held for Investments
Loans held for investments, gross	786	1,683
Corporate | Substandard
Loans Held for Investments
Loans held for investments, gross	447	127
Corporate | Doubtful
Loans Held for Investments
Loans held for investments, gross	21	2
Consumer
Loans Held for Investments
Loans held for investments, gross	20,447	16,576	15,389
Allowance for loan losses	(2)	(2)	(2)	(1)
Loans Held for Sale
Loans held for sale, gross	0	0
Total Loans
Total loans, gross	20,447	16,576
Consumer | Pass
Loans Held for Investments
Loans held for investments, gross	20,447	16,576
Consumer | Special Mention
Loans Held for Investments
Loans held for investments, gross	0	0
Consumer | Substandard
Loans Held for Investments
Loans held for investments, gross	0	0
Consumer | Doubtful
Loans Held for Investments
Loans held for investments, gross	0	0
Residential Real Estate
Loans Held for Investments
Loans held for investments, gross	19,640	15,735	14,198
Allowance for loan losses	(10)	(8)	(7)	(4)
Loans Held for Sale
Loans held for sale, gross	121	114
Total Loans
Total loans, gross	19,761	15,849
Loans held at fair value	1,933	1,682
Residential Real Estate | Pass
Loans Held for Investments
Loans held for investments, gross	19,596	15,688
Residential Real Estate | Special Mention
Loans Held for Investments
Loans held for investments, gross	0	0
Residential Real Estate | Substandard
Loans Held for Investments
Loans held for investments, gross	44	47
Residential Real Estate | Doubtful
Loans Held for Investments
Loans held for investments, gross	0	0
Wholesale Real Estate
Loans Held for Investments
Loans held for investments, gross	6,577	5,298	3,430
Allowance for loan losses	(22)	(21)	$ (15)	$ (14)
Loans Held for Sale
Loans held for sale, gross	569	1,144
Total Loans
Total loans, gross	7,146	6,442
Loans held at fair value	2,639	3,187
Wholesale Real Estate | Pass
Loans Held for Investments
Loans held for investments, gross	6,577	5,298
Wholesale Real Estate | Special Mention
Loans Held for Investments
Loans held for investments, gross	0	0
Wholesale Real Estate | Substandard
Loans Held for Investments
Loans held for investments, gross	0	0
Wholesale Real Estate | Doubtful
Loans Held for Investments
Loans held for investments, gross	$ 0	$ 0

Loans and Allowance for Loan 73

Loans and Allowance for Loan Losses (Impaired Loans) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Impaired Loans
Impaired loans with allowance	$ 17	$ 0
Impaired loans without allowance	101	19
Impaired loans unpaid principal balance	118	19
Past due 90 days loans and on nonaccrual	81	27
Allowance	173	149	$ 141	$ 156
Americas
Impaired Loans
Impaired loans unpaid principal balance	101	19
Past due 90 days loans and on nonaccrual	81	27
Allowance	140	121
EMEA
Impaired Loans
Impaired loans unpaid principal balance	17	0
Past due 90 days loans and on nonaccrual	0	0
Allowance	28	20
Asia-Pacific
Impaired Loans
Impaired loans unpaid principal balance	0	0
Past due 90 days loans and on nonaccrual	0	0
Allowance	5	8
Corporate
Impaired Loans
Impaired loans with allowance	17	0
Impaired loans without allowance	76	2
Impaired loans unpaid principal balance	93	2
Past due 90 days loans and on nonaccrual	53	2
Allowance	139	118	117	137
Consumer
Impaired Loans
Allowance	2	2	2	1
Residential Real Estate
Impaired Loans
Impaired loans with allowance	0	0
Impaired loans without allowance	25	17
Impaired loans unpaid principal balance	25	17
Past due 90 days loans and on nonaccrual	28	25
Allowance	10	8	7	4
Wholesale Real Estate
Impaired Loans
Allowance	$ 22	$ 21	$ 15	$ 14

Loans and Allowance for Loan 74

Loans and Allowance for Loan Losses (Loans and Lending-related Commitments) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Allowance for loan losses rollforward
Beginning balance	$ 149	$ 156
Gross charge-offs	(1)	(3)
Gross recoveries	1	1
Net charge-offs	0	(2)
Provision for loan losses	35	(13)
Other	(11)
Ending balance	173	141
Loans, additional information
Allowance, inherent	168	139
Allowance, specific	5	2
Loans, inherent	69,065	51,563
Loans, specific	118	43
Total Loans	69,183	51,606	$ 57,268
Allowance for lending-related commitments rollforward
Beginning balance	149	127
Provision for lending-related commitments	12	14
Ending balance	161	141
Lending-related commitments, additional information
Allowance, inherent	161	141
Allowance, specific	0	0
Lending-related commitments, inherent	70,970	68,613
Lending-related commitments, specific	128	53
Total lending-related commitments evaluated for impairment	71,098	68,666
Corporate
Allowance for loan losses rollforward
Beginning balance	118	137
Gross charge-offs	0	0
Gross recoveries	1	0
Net charge-offs	1	0
Provision for loan losses	31	(20)
Other	(11)
Ending balance	139	117
Loans, additional information
Allowance, inherent	134	115
Allowance, specific	5	2
Loans, inherent	22,426	18,575
Loans, specific	93	14
Total Loans	22,519	18,589	19,659
Allowance for lending-related commitments rollforward
Beginning balance	147	125
Provision for lending-related commitments	11	14
Ending balance	158	139
Lending-related commitments, additional information
Allowance, inherent	158	139
Allowance, specific	0	0
Lending-related commitments, inherent	65,627	63,702
Lending-related commitments, specific	128	53
Total lending-related commitments evaluated for impairment	65,755	63,755
Consumer
Allowance for loan losses rollforward
Beginning balance	2	1
Gross charge-offs	0	0
Gross recoveries	0	0
Net charge-offs	0	0
Provision for loan losses	0	1
Other	0
Ending balance	2	2
Loans, additional information
Allowance, inherent	2	2
Allowance, specific	0	0
Loans, inherent	20,447	15,389
Loans, specific	0	0
Total Loans	20,447	15,389	16,576
Allowance for lending-related commitments rollforward
Beginning balance	0	0
Provision for lending-related commitments	0	0
Ending balance	0	0
Lending-related commitments, additional information
Allowance, inherent	0	0
Allowance, specific	0	0
Lending-related commitments, inherent	4,587	4,354
Lending-related commitments, specific	0	0
Total lending-related commitments evaluated for impairment	4,587	4,354
Residential Real Estate
Allowance for loan losses rollforward
Beginning balance	8	4
Gross charge-offs	(1)	0
Gross recoveries	0	0
Net charge-offs	(1)	0
Provision for loan losses	3	3
Other	0
Ending balance	10	7
Loans, additional information
Allowance, inherent	10	7
Allowance, specific	0	0
Loans, inherent	19,615	14,169
Loans, specific	25	29
Total Loans	19,640	14,198	15,735
Allowance for lending-related commitments rollforward
Beginning balance	0	0
Provision for lending-related commitments	0	0
Ending balance	0	0
Lending-related commitments, additional information
Allowance, inherent	0	0
Allowance, specific	0	0
Lending-related commitments, inherent	310	269
Lending-related commitments, specific	0	0
Total lending-related commitments evaluated for impairment	310	269
Wholesale Real Estate
Allowance for loan losses rollforward
Beginning balance	21	14
Gross charge-offs	0	(3)
Gross recoveries	0	1
Net charge-offs	0	(2)
Provision for loan losses	1	3
Other	0
Ending balance	22	15
Loans, additional information
Allowance, inherent	22	15
Allowance, specific	0	0
Loans, inherent	6,577	3,430
Loans, specific	0	0
Total Loans	6,577	3,430	$ 5,298
Allowance for lending-related commitments rollforward
Beginning balance	2	2
Provision for lending-related commitments	1	0
Ending balance	3	2
Lending-related commitments, additional information
Allowance, inherent	3	2
Allowance, specific	0	0
Lending-related commitments, inherent	446	288
Lending-related commitments, specific	0	0
Total lending-related commitments evaluated for impairment	$ 446	$ 288

Loans and Allowance for Loan 75

Loans and Allowance for Loan Losses (Loans and Lending-related Commitments subnote) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable and Allowance for Credit Losses
Provision for loan losses			$ 35	$ (13)
Provision for lending-related commitments			$ 12	$ 14
Other Revenues
Financing Receivable and Allowance for Credit Losses
Provision for loan losses	$ 5	$ 2
Other Non-interest Expenses
Financing Receivable and Allowance for Credit Losses
Provision for lending-related commitments	$ 4	$ 16

Loans and Allowance for Loan 76

Loans and Allowance for Loan Losses (Employee Loans) (Details) - Employee Retainment and Recruitment Program - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Employee Loans
Employee loans outstanding	$ 4,887	$ 5,130
Allowance for employee loans	$ 121	$ 116
Minimum
Employee Loans
Employee loan repayment terms	1 year
Maximum
Employee Loans
Employee loan repayment terms	12 years

Equity Method Investments (Narr

Equity Method Investments (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments
Income (loss) from equity method investments	$ 35	$ 32			$ 118	$ 108
MUMSS
Equity Method Investments
Income (loss) from equity method investments	$ 54	$ 55			$ 194	$ 146
Dividends declared and paid by Joint Venture			$ 291	$ 594
Dividends received from equity method investment			$ 116	$ 238
Voting interest in joint venture	40.00%				40.00%
MUMSS | MUFG
Equity Method Investments
Voting interest held by noncontrolling interest	60.00%				60.00%

Equity Method Investments (Inve

Equity Method Investments (Investees) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Equity Method Investments
Equity method investment	$ 3,244	$ 3,332

Deposits (Details)

Deposits (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Jun. 28, 2013	Dec. 31, 2014
Deposits [Abstract]
Savings and demand deposits	$ 143,543		$ 132,159
Time deposits	3,683		1,385
Total	147,226		133,544
Interest-bearing Deposits
Time deposits maturing in 2015	2,437
Time deposits maturing in 2016	1,053
Time deposits maturing in 2017	180
Time deposits maturing in 2018	13
Interest-bearing savings deposits payable on demand	143,528
Deposits subject to FDIC	107,000		$ 99,000
Wealth Management JV
Noncontrolling Interest [Line Items]
Purchase of noncontrolling interests, percent		35.00%
Wealth Management JV | Citi
Noncontrolling Interest [Line Items]
Transfer of deposits from joint venture partners	$ 8,700

Long-Term Borrowings and Othe80

Long-Term Borrowings and Other Secured Financings (Other Narratives) (Details) - USD ($) $ in Billions	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Long-term Borrowings
Notes issued, principal amount	$ 30.2	$ 26.5
Notes matured or retired	$ 17.6	$ 24.7
Weighted average maturity of long-term borrowings	5 years 11 months		5 years 11 months

Long-Term Borrowings and Othe81

Long-Term Borrowings and Other Secured Financings (Long-term Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Components of Long-term Borrowings
Senior debt	$ 146,899	$ 139,565
Subordinated debt	10,575	8,339
Junior subordinated debentures	2,869	4,868
Total	$ 160,343	$ 152,772

Long-Term Borrowings and Othe82

Long-Term Borrowings and Other Secured Financings (Other Secured Financings) (Details) $ in Millions	Sep. 30, 2015USD ($)	Jun. 30, 2015	Dec. 31, 2014USD ($)
Long-term Borrowings
Secured financings with original maturities greater than one year	$ 8,096		$ 10,346
Secured financings with original maturities one year or less	1,733		1,395
Failed sales	342		344
Total other secured financings	$ 10,171		$ 12,085
Morgan Stanley Capital Trust VI
Capital Securities Redemption
Stated Interest Rate		0.066

Commitments, Guarantees and C83

Commitments, Guarantees and Contingencies (Narrative - Contingencies) (Details) - USD ($) $ in Millions

Sep. 25, 2015

Jul. 15, 2010

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Jan. 23, 2015

Apr. 28, 2014

Sep. 23, 2013

Jul. 08, 2013

May. 03, 2013

Jan. 10, 2013

Oct. 16, 2012

Sep. 28, 2012

Aug. 08, 2012

Aug. 07, 2012

Contingencies

Legal Expenses

$ 320

$ 66

$ 555

$ 256

China Development Industrial Bank v. Morgan Stanley & Co. Incorporated et al.

Contingencies

Damages sought

$ 228

Additional damages sought

12

Estimate of possible loss, maximum

240

240

Credit default swap asset

$ 275

The Prudential Insurance Company of America, et al. v. Morgan Stanley, et al.

Contingencies

Estimate of possible loss, minimum

581

581

Mortgage pass through certificate backed by securitization trusts original amount

$ 1,073

Mortgage pass through certificate backed by securitization trusts unpaid amount

$ 581

Morgan Stanley Mortgage Loan Trusts v Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Estimate of possible loss, maximum

527

527

Morgan Stanley Mortgage Loan Trust 2006-4SL v. Morgan Stanley Mortgage Capital Inc.

Contingencies

Estimate of possible loss, maximum

149

149

Original principal balance of loans in trust

$ 303

Morgan Stanley Mortgage Loan Trust 2006-14SL v Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Original principal balance of loans in trust

$ 354

Morgan Stanley Mortgage Loan Trust 2007-4SL v Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Original principal balance of loans in trust

$ 305

Morgan Stanley Mortgage Loan Trust 2006-13ARX v. Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Estimate of possible loss, maximum

170

170

Original principal balance of loans in trust

$ 609

Morgan Stanley Mortgage Loan Trust 2006-10SL v. Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Estimate of possible loss, maximum

197

197

Original principal balance of loans in trust

$ 300

National Credit Union Administration Board v Morgan Stanley & Co. Inc., et al.

Contingencies

Estimate of possible loss, minimum

194

194

Mortgage pass through certificate backed by securitization trusts original amount

$ 417

Mortgage pass through certificate backed by securitization trusts unpaid amount

194

Mortgage pass through certificate incurred losses

31

Deutsche Zentral-Genossenschaftsbank AG et al. v. Morgan Stanley et al.

Contingencies

Estimate of possible loss, minimum

277

277

Mortgage pass through certificate backed by securitization trusts original amount

$ 644

Mortgage pass through certificate backed by securitization trusts unpaid amount

277

Mortgage pass through certificate incurred losses

$ 81

Deutsche Bank National Trust Company v. Morgan Stanley Mortgage Capital Holdings Llc

Contingencies

Estimate of possible loss, maximum

292

292

Original principal balance of loans in trust

$ 735

U.S. Bank National Association 2007-2AX v. Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Estimate of possible loss, maximum

240

240

Original principal balance of loans in trust

$ 650

Deutsche Bank National Trust Company (2007-NC4) v. Morgan Stanley Mortgage Capital Holdings LLC

Contingencies

Estimate of possible loss, maximum

$ 277

$ 277

Original principal balance of loans in trust

$ 1,050

Commitments, Guarantees and C84

Commitments, Guarantees and Contingencies (Commitments) (Details) $ in Millions	Sep. 30, 2015USD ($)
Commitment, Fiscal Year Maturity
Less than 1	$ 97,409
1-3 years	28,957
3-5 years	49,388
Over 5 years	12,563
Total	188,317
Letters of Credit and Other Financial Guarantees Obtained to Satisfy Collateral Requirements
Commitment, Fiscal Year Maturity
Less than 1	315
1-3 years	8
3-5 years	0
Over 5 years	1
Total	324
Investment Activities
Commitment, Fiscal Year Maturity
Less than 1	484
1-3 years	61
3-5 years	20
Over 5 years	533
Total	1,098
Primary Lending Commitments - Investment Grade
Commitment, Fiscal Year Maturity
Less than 1	13,636
1-3 years	20,928
3-5 years	34,007
Over 5 years	3,453
Total	72,024
Unfunded commitments accounted for as held for investment	1,800
Primary Lending Commitments - Non-investment Grade
Commitment, Fiscal Year Maturity
Less than 1	2,278
1-3 years	6,246
3-5 years	14,131
Over 5 years	5,947
Total	28,602
Unfunded commitments accounted for as held for investment	3,000
Secondary Lending Commitments
Commitment, Fiscal Year Maturity
Less than 1	45
1-3 years	81
3-5 years	48
Over 5 years	40
Total	214
Commitments for Secured Lending Transactions
Commitment, Fiscal Year Maturity
Less than 1	1,895
1-3 years	294
3-5 years	511
Over 5 years	1,188
Total	3,888
Forward Starting Reverse Repurchase Agreements and Securities Borrowing Agreements
Commitment, Fiscal Year Maturity
Less than 1	73,680
1-3 years	0
3-5 years	0
Over 5 years	0
Total	73,680
Maximum commitment under reverse repurchase facility	1,300
Commitments due in the next three business days	60,300
Commercial and Residential Mortgage-related Commitments
Commitment, Fiscal Year Maturity
Less than 1	18
1-3 years	359
3-5 years	70
Over 5 years	1,262
Total	1,709
Other Lending Commitments
Commitment, Fiscal Year Maturity
Less than 1	5,058
1-3 years	980
3-5 years	601
Over 5 years	139
Total	$ 6,778

Commitments, Guarantees and C85

Commitments, Guarantees and Contingencies (Obligations under Guarantee Arrangements) (Details) $ in Millions	Sep. 30, 2015USD ($)
Credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	$ 797,537
Carrying Amount (Asset)/Liability	(301)
Collateral/Recourse	0
Other Credit Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	1,196
Carrying Amount (Asset)/Liability	(1,042)
Collateral/Recourse	0
Non-credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	2,788,053
Carrying Amount (Asset)/Liability	80,932
Collateral/Recourse	0
Standby Letters of Credit and Other Financial Guarantees Issued
Guarantor Obligations
Maximum Potential Payout/Notional	9,922
Carrying Amount (Asset)/Liability	(188)
Collateral/Recourse	6,962
Market Value Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	678
Carrying Amount (Asset)/Liability	4
Collateral/Recourse	82
Liquidity Facilities
Guarantor Obligations
Maximum Potential Payout/Notional	2,842
Carrying Amount (Asset)/Liability	(4)
Collateral/Recourse	4,473
Whole Loan Sales Guarantees and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	23,485
Carrying Amount (Asset)/Liability	9
Collateral/Recourse	0
Securitizations Representations and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	63,613
Carrying Amount (Asset)/Liability	98
Collateral/Recourse	0
General Partner Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	649
Carrying Amount (Asset)/Liability	71
Collateral/Recourse	0
Less than 1 Year | Credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	164,281
Less than 1 Year | Other Credit Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	1
Less than 1 Year | Non-credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	1,069,489
Less than 1 Year | Standby Letters of Credit and Other Financial Guarantees Issued
Guarantor Obligations
Maximum Potential Payout/Notional	818
Less than 1 Year | Market Value Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	26
Less than 1 Year | Liquidity Facilities
Guarantor Obligations
Maximum Potential Payout/Notional	2,842
Less than 1 Year | Whole Loan Sales Guarantees and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	0
Less than 1 Year | Securitizations Representations and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	0
Less than 1 Year | General Partner Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	71
1 - 3 Years | Credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	383,709
1 - 3 Years | Other Credit Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	806
1 - 3 Years | Non-credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	825,927
1 - 3 Years | Standby Letters of Credit and Other Financial Guarantees Issued
Guarantor Obligations
Maximum Potential Payout/Notional	1,509
1 - 3 Years | Market Value Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	397
1 - 3 Years | Liquidity Facilities
Guarantor Obligations
Maximum Potential Payout/Notional	0
1 - 3 Years | Whole Loan Sales Guarantees and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	0
1 - 3 Years | Securitizations Representations and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	0
1 - 3 Years | General Partner Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	37
3 - 5 Years | Credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	171,658
3 - 5 Years | Other Credit Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	340
3 - 5 Years | Non-credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	301,902
3 - 5 Years | Standby Letters of Credit and Other Financial Guarantees Issued
Guarantor Obligations
Maximum Potential Payout/Notional	1,311
3 - 5 Years | Market Value Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	221
3 - 5 Years | Liquidity Facilities
Guarantor Obligations
Maximum Potential Payout/Notional	0
3 - 5 Years | Whole Loan Sales Guarantees and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	1
3 - 5 Years | Securitizations Representations and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	0
3 - 5 Years | General Partner Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	87
Over 5 Years | Credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	77,889
Over 5 Years | Other Credit Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	49
Over 5 Years | Non-credit Derivative Contracts
Guarantor Obligations
Maximum Potential Payout/Notional	590,735
Over 5 Years | Standby Letters of Credit and Other Financial Guarantees Issued
Guarantor Obligations
Maximum Potential Payout/Notional	6,284
Over 5 Years | Market Value Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	34
Over 5 Years | Liquidity Facilities
Guarantor Obligations
Maximum Potential Payout/Notional	0
Over 5 Years | Whole Loan Sales Guarantees and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	23,484
Over 5 Years | Securitizations Representations and Warranties
Guarantor Obligations
Maximum Potential Payout/Notional	63,613
Over 5 Years | General Partner Guarantees
Guarantor Obligations
Maximum Potential Payout/Notional	454
Primary and Secondary Lending Commitments
Guarantor Obligations
Standby letters of credit	$ 700

Variable Interest Entities an86

Variable Interest Entities and Securitization Activities (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity
Nonredeemable noncontrolling interests	$ 1,133	$ 1,204
Additional maximum exposure to losses	69	105
Securities issued by SPEs	13,700	14,000
Managed Real Estate Partnerships
Variable Interest Entity
Nonredeemable noncontrolling interests	$ 59	$ 240

Variable Interest Entities an87

Variable Interest Entities and Securitization Activities (Consolidated VIEs) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Variable Interest Entity
Reduction in nonredeemable noncontrolling interests related to deconsolidation of certain legal entities associated with a real estate fund		$ 191	$ 191	$ 1,606
Real Estate Funds
Variable Interest Entity
Reduction in nonredeemable noncontrolling interests related to deconsolidation of certain legal entities associated with a real estate fund	$ 191
Mortgage and Asset-Backed Securitizations
Variable Interest Entity
VIE assets			437		$ 563
VIE liabilities			254		337
Managed Real Estate Partnerships
Variable Interest Entity
VIE assets			60		288
VIE liabilities			1		4
Other Structured Financings
Variable Interest Entity
VIE assets			830		928
VIE liabilities			13		80
Other
Variable Interest Entity
VIE assets			1,635		1,199
VIE liabilities			$ 192		$ 0

Variable Interest Entities an88

Variable Interest Entities and Securitization Activities (Non-Consolidated VIEs) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Mortgage and Asset-Backed Securities
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	$ 161,547	$ 174,548
Maximum exposure to loss	16,090	16,097
Mortgage and Asset-Backed Securities | Assets
Variable Interest Entity
Carrying value of exposure to loss	15,134	15,043
Mortgage and Asset-Backed Securities | Debt and Equity Interests
Variable Interest Entity
Maximum exposure to loss	15,121	15,028
Carrying value of exposure to loss	15,121	15,028
Mortgage and Asset-Backed Securities | Derivative and Other Contracts, Assets
Variable Interest Entity
Maximum exposure to loss	13	15
Carrying value of exposure to loss	13	15
Mortgage and Asset-Backed Securities | Liabilities
Variable Interest Entity
Carrying value of exposure to loss	0	0
Mortgage and Asset-Backed Securities | Commitments, Guarantees and Other
Variable Interest Entity
Maximum exposure to loss	956	1,054
Carrying value of exposure to loss	0	0
Mortgage and Asset-Backed Securities | Derivative and Other Contracts, Liabilities
Variable Interest Entity
Carrying value of exposure to loss	0	0
Residential Mortgage
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	14,500	30,800
Residential Mortgage | Debt and Equity Interests
Variable Interest Entity
Carrying value of exposure to loss	1,200	1,900
Commercial Mortgage
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	77,300	71,900
Commercial Mortgage | Debt and Equity Interests
Variable Interest Entity
Carrying value of exposure to loss	3,100	2,400
U.S. Agency Collateralized Mortgage Obligations
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	17,300	20,600
U.S. Agency Collateralized Mortgage Obligations | Debt and Equity Interests
Variable Interest Entity
Carrying value of exposure to loss	3,800	4,000
Other Consumer or Commercial Loans
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	52,400	51,200
Other Consumer or Commercial Loans | Debt and Equity Interests
Variable Interest Entity
Carrying value of exposure to loss	7,000	6,800
Collateralized Debt Obligations
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	15,046	26,567
Maximum exposure to loss	2,824	3,496
Collateralized Debt Obligations | Assets
Variable Interest Entity
Carrying value of exposure to loss	1,704	3,064
Collateralized Debt Obligations | Debt and Equity Interests
Variable Interest Entity
Maximum exposure to loss	1,704	3,062
Carrying value of exposure to loss	1,704	3,062
Collateralized Debt Obligations | Derivative and Other Contracts, Assets
Variable Interest Entity
Maximum exposure to loss	0	2
Carrying value of exposure to loss	0	2
Collateralized Debt Obligations | Liabilities
Variable Interest Entity
Carrying value of exposure to loss	0	0
Collateralized Debt Obligations | Commitments, Guarantees and Other
Variable Interest Entity
Maximum exposure to loss	1,120	432
Carrying value of exposure to loss	0	0
Collateralized Debt Obligations | Derivative and Other Contracts, Liabilities
Variable Interest Entity
Carrying value of exposure to loss	0	0
Municipal Tender Option Bonds
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	4,343	3,449
Maximum exposure to loss	2,609	2,225
Municipal Tender Option Bonds | Assets
Variable Interest Entity
Carrying value of exposure to loss	33	17
Municipal Tender Option Bonds | Debt and Equity Interests
Variable Interest Entity
Maximum exposure to loss	12	13
Carrying value of exposure to loss	12	13
Municipal Tender Option Bonds | Derivative and Other Contracts, Assets
Variable Interest Entity
Maximum exposure to loss	2,597	2,212
Carrying value of exposure to loss	21	4
Municipal Tender Option Bonds | Liabilities
Variable Interest Entity
Carrying value of exposure to loss	17	0
Municipal Tender Option Bonds | Commitments, Guarantees and Other
Variable Interest Entity
Maximum exposure to loss	0	0
Carrying value of exposure to loss	0	0
Municipal Tender Option Bonds | Derivative and Other Contracts, Liabilities
Variable Interest Entity
Carrying value of exposure to loss	17	0
Other Structured Financings
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	1,696	2,040
Maximum exposure to loss	1,687	1,775
Other Structured Financings | Assets
Variable Interest Entity
Carrying value of exposure to loss	644	741
Other Structured Financings | Debt and Equity Interests
Variable Interest Entity
Maximum exposure to loss	1,078	1,158
Carrying value of exposure to loss	644	741
Other Structured Financings | Derivative and Other Contracts, Assets
Variable Interest Entity
Maximum exposure to loss	0	0
Carrying value of exposure to loss	0	0
Other Structured Financings | Liabilities
Variable Interest Entity
Carrying value of exposure to loss	5	5
Other Structured Financings | Commitments, Guarantees and Other
Variable Interest Entity
Maximum exposure to loss	609	617
Carrying value of exposure to loss	5	5
Other Structured Financings | Derivative and Other Contracts, Liabilities
Variable Interest Entity
Carrying value of exposure to loss	0	0
Other
Variable Interest Entity
VIE assets that the Company does not consolidate (unpaid principal balance)	20,012	19,237
Maximum exposure to loss	3,893	4,477
Other | Assets
Variable Interest Entity
Carrying value of exposure to loss	3,590	3,958
Other | Debt and Equity Interests
Variable Interest Entity
Maximum exposure to loss	3,559	3,884
Carrying value of exposure to loss	3,560	3,884
Other | Derivative and Other Contracts, Assets
Variable Interest Entity
Maximum exposure to loss	66	164
Carrying value of exposure to loss	30	74
Other | Liabilities
Variable Interest Entity
Carrying value of exposure to loss	2	57
Other | Commitments, Guarantees and Other
Variable Interest Entity
Maximum exposure to loss	268	429
Carrying value of exposure to loss	0	0
Other | Derivative and Other Contracts, Liabilities
Variable Interest Entity
Carrying value of exposure to loss	$ 2	$ 57

Variable Interest Entities an89

Variable Interest Entities and Securitization Activities (Transfers of Assets with Continuing Involvement 1) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity
Derivative assets (fair value)	$ 33,294	$ 36,394
Derivative liabilities (fair value)	35,773	40,212
Special Purpose Entities
Variable Interest Entity
Retained interests (fair value)	2,906	2,685
Interests purchased in the secondary market (fair value)	641	808
Derivative assets (fair value)	493	633
Derivative liabilities (fair value)	780	86
Special Purpose Entities | Investment Grade
Variable Interest Entity
Retained interests (fair value)	1,440	1,203
Interests purchased in the secondary market (fair value)	437	645
Special Purpose Entities | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	1,466	1,482
Interests purchased in the secondary market (fair value)	204	163
Special Purpose Entities | Residential Mortgage
Variable Interest Entity
SPE assets (unpaid principal balance)	24,523	26,549
Retained interests (fair value)	203	108
Interests purchased in the secondary market (fair value)	92	64
Derivative assets (fair value)	0	0
Derivative liabilities (fair value)	0	0
Special Purpose Entities | Residential Mortgage | Investment Grade
Variable Interest Entity
Retained interests (fair value)	0	10
Interests purchased in the secondary market (fair value)	0	32
Special Purpose Entities | Residential Mortgage | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	203	98
Interests purchased in the secondary market (fair value)	92	32
Special Purpose Entities | Commercial Mortgage Loans
Variable Interest Entity
SPE assets (unpaid principal balance)	58,983	58,660
Retained interests (fair value)	219	237
Interests purchased in the secondary market (fair value)	312	201
Derivative assets (fair value)	376	495
Derivative liabilities (fair value)	0	0
Special Purpose Entities | Commercial Mortgage Loans | Investment Grade
Variable Interest Entity
Retained interests (fair value)	150	117
Interests purchased in the secondary market (fair value)	231	129
Special Purpose Entities | Commercial Mortgage Loans | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	69	120
Interests purchased in the secondary market (fair value)	81	72
Special Purpose Entities | U.S. Agency Collateralized Mortgage Obligations
Variable Interest Entity
SPE assets (unpaid principal balance)	19,020	20,826
Retained interests (fair value)	1,290	1,019
Interests purchased in the secondary market (fair value)	204	61
Derivative assets (fair value)	0	0
Derivative liabilities (fair value)	0	0
Special Purpose Entities | U.S. Agency Collateralized Mortgage Obligations | Investment Grade
Variable Interest Entity
Retained interests (fair value)	1,290	1,019
Interests purchased in the secondary market (fair value)	204	61
Special Purpose Entities | U.S. Agency Collateralized Mortgage Obligations | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	0	0
Interests purchased in the secondary market (fair value)	0	0
Special Purpose Entities | Credit-Linked Notes and Other
Variable Interest Entity
SPE assets (unpaid principal balance)	20,296	24,011
Retained interests (fair value)	1,194	1,321
Interests purchased in the secondary market (fair value)	33	482
Derivative assets (fair value)	117	138
Derivative liabilities (fair value)	780	86
Special Purpose Entities | Credit-Linked Notes and Other | Investment Grade
Variable Interest Entity
Retained interests (fair value)	0	57
Interests purchased in the secondary market (fair value)	2	423
Special Purpose Entities | Credit-Linked Notes and Other | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	1,194	1,264
Interests purchased in the secondary market (fair value)	$ 31	$ 59

Variable Interest Entities an90

Variable Interest Entities and Securitization Activities (Transfers of Assets with Continuing Involvement 2) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity
Derivative assets (fair value)	$ 33,294	$ 36,394
Derivative liabilities (fair value)	35,773	40,212
Equity Securites Transaction with bilateral OTC equity contracts
Variable Interest Entity
Proceeds from sale of equity	7,700
Fair value of assets sold	7,400
Derivative assets (fair value)	39.5
Derivative liabilities (fair value)	225
Special Purpose Entities
Variable Interest Entity
Retained interests (fair value)	2,906	2,685
Interests purchased in the secondary market (fair value)	641	808
Derivative assets (fair value)	493	633
Derivative liabilities (fair value)	780	86
Special Purpose Entities | Level 1
Variable Interest Entity
Retained interests (fair value)	0	0
Interests purchased in the secondary market (fair value)	0	0
Derivative assets (fair value)	0	0
Derivative liabilities (fair value)	0	0
Special Purpose Entities | Level 2
Variable Interest Entity
Retained interests (fair value)	1,465	1,289
Interests purchased in the secondary market (fair value)	605	773
Derivative assets (fair value)	456	559
Derivative liabilities (fair value)	764	82
Special Purpose Entities | Level 3
Variable Interest Entity
Retained interests (fair value)	1,441	1,396
Interests purchased in the secondary market (fair value)	36	35
Derivative assets (fair value)	37	74
Derivative liabilities (fair value)	16	4
Special Purpose Entities | Investment Grade
Variable Interest Entity
Retained interests (fair value)	1,440	1,203
Interests purchased in the secondary market (fair value)	437	645
Special Purpose Entities | Investment Grade | Level 1
Variable Interest Entity
Retained interests (fair value)	0	0
Interests purchased in the secondary market (fair value)	0	0
Special Purpose Entities | Investment Grade | Level 2
Variable Interest Entity
Retained interests (fair value)	1,437	1,166
Interests purchased in the secondary market (fair value)	437	644
Special Purpose Entities | Investment Grade | Level 3
Variable Interest Entity
Retained interests (fair value)	3	37
Interests purchased in the secondary market (fair value)	0	1
Special Purpose Entities | Noninvestment Grade
Variable Interest Entity
Retained interests (fair value)	1,466	1,482
Interests purchased in the secondary market (fair value)	204	163
Special Purpose Entities | Noninvestment Grade | Level 1
Variable Interest Entity
Retained interests (fair value)	0	0
Interests purchased in the secondary market (fair value)	0	0
Special Purpose Entities | Noninvestment Grade | Level 2
Variable Interest Entity
Retained interests (fair value)	28	123
Interests purchased in the secondary market (fair value)	168	129
Special Purpose Entities | Noninvestment Grade | Level 3
Variable Interest Entity
Retained interests (fair value)	1,438	1,359
Interests purchased in the secondary market (fair value)	$ 36	$ 34

Variable Interest Entities an91

Variable Interest Entities and Securitization Activities (Proceeds from retained interests in securitization transactions) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Securitization Activities and Variable Interest Entities [Abstract]
Proceeds received from new securitization transactions	$ 6,105	$ 7,662	$ 17,270	$ 17,310
Proceeds from retained interests in securitization transactions	476	714	2,082	2,186
CLOs | Special Purpose Entities
Variable Interest Entity [Line Items]
Proceeds from sale of corporate loans sold to those SPEs	$ 121	$ 447	$ 1,086	$ 1,572

Variable Interest Entities an92

Variable Interest Entities and Securitization Activities (Failed Sales) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity
Assets, carrying value	$ 342	$ 352
Liabilities, carrying value	$ 342	$ 344

Regulatory Requirements (Narrat

Regulatory Requirements (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
MS&Co.
Regulatory Requirements
Net capital	$ 9,533	$ 6,593
Amount of capital that exceeds the minimum required	7,784	4,928
Net capital, minimum amount required to hold	1,000
Net capital, minimum amount required to hold in accordance with the market and credit risk standards	500
MS&Co. | Minimum
Regulatory Requirements
Amount by which if net capital falls below, the company is required to notify the SEC	5,000
MSSB LLC
Regulatory Requirements
Net capital	4,452	4,620
Amount of capital that exceeds the minimum required	$ 4,295	$ 4,460

Regulatory Requirements (Capita

Regulatory Requirements (Capital Measures) (Details) - U.S. Basel III - Transitional / Advanced Approach - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Balance
Common Equity Tier 1 capital, amount	$ 59,056	$ 57,324
Tier 1 capital, amount	66,071	64,182
Total capital, amount	78,921	74,972
Assets
RWAs	423,242	456,008
Adjusted average assets	$ 816,722	$ 810,524
Ratio
Common Equity Tier 1 capital ratio	14.00%	12.60%
Tier 1 capital ratio	15.60%	14.10%
Total capital ratio	18.60%	16.40%
Tier 1 leverage ratio	8.10%	7.90%
Minimum Regulatory Capital Ratio
Minimum Common Equity Tier 1 capital, required	4.50%	4.00%
Minimum Tier 1 capital ratio, required	6.00%	5.50%
Minimum total capital ratio, required	8.00%	8.00%
Minimum Teir 1 leverage ratio, required	4.00%	4.00%

Regulatory Requirements (Signif

Regulatory Requirements (Significant U.S. Bank Operating Subsidiaries' Capital) (Details) - U.S. Basel III - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Transitional / Advanced Approach
Regulatory Requirements
Common Equity Tier 1 capital, amount	$ 59,056	$ 57,324
Tier 1 capital, amount	66,071	64,182
Total capital, amount	$ 78,921	$ 74,972
Ratio
Common Equity Tier 1 capital ratio	14.00%	12.60%
Tier 1 capital ratio	15.60%	14.10%
Total capital ratio	18.60%	16.40%
Tier 1 leverage ratio	8.10%	7.90%
MSBNA
Required Capital Ratio
Common Equity Tier 1 capital ratio, required	6.50%	6.50%
Tier 1 capital ratio, required	8.00%	8.00%
Total capital ratio, required	10.00%	10.00%
Teir 1 leverage ratio, required	5.00%	5.00%
MSBNA | Transitional / Standardized Approach
Regulatory Requirements
Common Equity Tier 1 capital, amount	$ 12,939
Tier 1 capital, amount	12,939
Total capital, amount	14,649
Tier 1 leverage capital, amount	$ 12,939
Ratio
Common Equity Tier 1 capital ratio	13.80%
Tier 1 capital ratio	13.80%
Total capital ratio	15.70%
Tier 1 leverage ratio	10.10%
MSBNA | Transitional / U.S. Basel I And Basel 2.5 Approach
Regulatory Requirements
Common Equity Tier 1 capital, amount		$ 12,355
Tier 1 capital, amount		12,355
Total capital, amount		14,040
Tier 1 leverage capital, amount		$ 12,355
Ratio
Common Equity Tier 1 capital ratio		12.20%
Tier 1 capital ratio		12.20%
Total capital ratio		13.90%
Tier 1 leverage ratio		10.20%
MSPBNA
Required Capital Ratio
Common Equity Tier 1 capital ratio, required	6.50%	6.50%
Tier 1 capital ratio, required	8.00%	8.00%
Total capital ratio, required	10.00%	10.00%
Teir 1 leverage ratio, required	5.00%	5.00%
MSPBNA | Transitional / Standardized Approach
Regulatory Requirements
Common Equity Tier 1 capital, amount	$ 3,433
Tier 1 capital, amount	3,433
Total capital, amount	3,447
Tier 1 leverage capital, amount	$ 3,433
Ratio
Common Equity Tier 1 capital ratio	23.00%
Tier 1 capital ratio	23.00%
Total capital ratio	23.10%
Tier 1 leverage ratio	9.90%
MSPBNA | Transitional / U.S. Basel I And Basel 2.5 Approach
Regulatory Requirements
Common Equity Tier 1 capital, amount		$ 2,468
Tier 1 capital, amount		2,468
Total capital, amount		2,480
Tier 1 leverage capital, amount		$ 2,468
Ratio
Common Equity Tier 1 capital ratio		20.30%
Tier 1 capital ratio		20.30%
Total capital ratio		20.40%
Tier 1 leverage ratio		9.40%

Total Equity (Narrative) (Detai

Total Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 20, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Treasury Shares
Authorized repurchase amount of outstanding common stock		$ 3,100		$ 3,100
Dividends declared per common share	$ 0.15	$ 0.15	$ 0.1	$ 0.4	$ 0.25
Common stock repurchased		$ 625	$ 195	$ 1,500	$ 629
Nonredeemable Noncontrolling Interests
Nonredeemable noncontrolling interests		$ 1,133		$ 1,133		$ 1,204

Total Equity (Preferred Stock O

Total Equity (Preferred Stock Outstanding) (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Class of Stock
Preferred stock carrying value	$ 7,520	$ 6,020
Series A Preferred Stock
Class of Stock
Preferred stock shares outstanding	44,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 1,100	1,100
Series C Preferred Stock
Class of Stock
Preferred stock shares outstanding	519,882
Liquidation preference per share	$ 1,000
Preferred stock carrying value	$ 408	408
Series E Preferred Stock
Class of Stock
Preferred stock shares outstanding	34,500
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 862	862
Series F Preferred Stock
Class of Stock
Preferred stock shares outstanding	34,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 850	850
Series G Preferred Stock
Class of Stock
Preferred stock shares outstanding	20,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 500	500
Series H Preferred Stock
Class of Stock
Preferred stock shares outstanding	52,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 1,300	1,300
Series I Preferred Stock
Class of Stock
Preferred stock shares outstanding	40,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 1,000	1,000
Series J Preferred Stock
Class of Stock
Preferred stock shares outstanding	60,000
Liquidation preference per share	$ 25,000
Preferred stock carrying value	$ 1,500	$ 0

Total Equity (Preferred Stock)

Total Equity (Preferred Stock) (Details) $ / shares in Units, $ in Millions	Mar. 19, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)
Preferred Stock
Proceeds from issuance of preferred stock, net of issuance costs				$ 1,493	$ 2,782
Preferred stock shares authorized | shares		30,000,000		30,000,000
Dividends declared, Preferred Stock		$ 78	$ 62	$ 297	$ 192
Series J Preferred Stock
Preferred Stock
Preferred stock issuance date	Mar. 19, 2015
Depositary Shares issued (in shares) | shares	1,500,000
Depositary Shares issued	$ 1,500
Fraction of underlying stock that each Depositary Share represents	0.04
Preferred stock par value (per share) | $ / shares	$ 0.01
Preferred stock redemption price (per share) | $ / shares	25,000
Preferred stock redemption price per Depositary Share | $ / shares	$ 1,000
Proceeds from issuance of preferred stock, net of issuance costs	$ 1,493
Preferred stock redemption terms	The Series J Preferred Stock is redeemable at the Company’s option, (i) in whole or in part, from time to time, on any dividend payment date on or after July 15, 2020 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 $1,000 per Depositary Share), plus any declared and unpaid dividends up to, but excluding, the date fixed for redemption, without accumulation of any undeclared dividends.

Total Equity (Components of Acc

Total Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Beginning balance	$ (1,447)	$ (733)	$ (1,248)	$ (1,093)
Other comprehensive income (loss) before reclassifications	37	(373)	(130)	(9)
Amounts reclassified from AOCI	(9)	(9)	(41)	(13)
Net other comprehensive income (loss) during the period	28	(382)	(171)	(22)
Ending balance	(1,419)	(1,115)	(1,419)	(1,115)
Foreign Currency Translation Adjustments
Beginning balance	(833)	(150)	(663)	(266)
Other comprehensive income (loss) before reclassifications	(76)	(265)	(246)	(149)
Amounts reclassified from AOCI	0	0	0	0
Net other comprehensive income (loss) during the period	(76)	(265)	(246)	(149)
Ending balance	(909)	(415)	(909)	(415)
Change in Net Unrealized Gains (Losses) on Securities Available for Sale
Beginning balance	(101)	(46)	(73)	(282)
Other comprehensive income (loss) before reclassifications	111	(90)	118	156
Amounts reclassified from AOCI	(11)	(12)	(46)	(22)
Net other comprehensive income (loss) during the period	100	(102)	72	134
Ending balance	(1)	(148)	(1)	(148)
Pension, Postretirement and Other
Beginning balance	(513)	(537)	(512)	(545)
Other comprehensive income (loss) before reclassifications	2	(18)	(2)	(16)
Amounts reclassified from AOCI	2	3	5	9
Net other comprehensive income (loss) during the period	4	(15)	3	(7)
Ending balance	$ (509)	$ (552)	$ (509)	$ (552)

Earnings Per Common Share (Calc

Earnings Per Common Share (Calculation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic EPS:
Income from continuing operations	$ 1,051	$ 1,757	$ 5,352	$ 5,259
Income (loss) from discontinued operations	(2)	(5)	(9)	(6)
Net income	1,049	1,752	5,343	5,253
Net income applicable to nonredeemable noncontrolling interests	31	59	124	156
Net income applicable to Morgan Stanley	1,018	1,693	5,219	5,097
Less: Preferred dividends	(78)	(62)	(297)	(192)
Less: Allocation of (earnings) loss to participating RSUs:
From continuing operations	(1)	(2)	(4)	(7)
Earnings applicable to Morgan Stanley common shareholders	$ 939	$ 1,629	$ 4,918	$ 4,898
Weighted average common shares outstanding	1,904,213,493	1,922,995,835	1,915,807,606	1,925,172,108
Earnings per basic common share:
Income from continuing operations	$ 0.49	$ 0.85	$ 2.57	$ 2.55
Income (loss) from discontinued operations	0	0	0	(0.01)
Earnings per basic common share	$ 0.49	$ 0.85	$ 2.57	$ 2.54
Diluted EPS:
Earnings applicable to Morgan Stanley common shareholders	$ 939	$ 1,629	$ 4,918	$ 4,898
Weighted average common shares outstanding	1,904,213,493	1,922,995,835	1,915,807,606	1,925,172,108
Effect of dilutive securities:
Stock options and RSUs	45,000,000	48,000,000	42,000,000	45,000,000
Weighted average common shares outstanding and common stock equivalents	1,949,281,601	1,970,922,473	1,957,544,581	1,970,091,170
Earnings per diluted common share:
Income from continuing operations	$ 0.48	$ 0.83	$ 2.52	$ 2.49
Income (loss) from discontinued operations	0	0	(0.01)	0
Earnings per diluted common share	$ 0.48	$ 0.83	$ 2.51	$ 2.49

Earnings Per Common Share (Anti

Earnings Per Common Share (Antidilutive Securities Excluded from the Computation of Diluted EPS) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive securities outstanding	12	15	12	15
Stock Options
Antidilutive securities outstanding	11	13	11	13
RSUs and Performance-based Stock Units
Antidilutive securities outstanding	1	2	1	2

Interest Income and Interest102

Interest Income and Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income:
Trading assets	$ 568	$ 508	$ 1,707	$ 1,520
Investment securities	211	162	650	449
Loans	560	474	1,573	1,220
Interest bearing deposits with banks	29	22	74	81
Interest income securities purchased under agreements to resell and securities borrowed	(99)	(103)	(404)	(239)
Customer receivables and Other	182	321	721	946
Total Interest income	1,451	1,384	4,321	3,977
Interest expense:
Deposits	17	12	51	44
Short-term borrowings	7	1	16	3
Long-term borrowings	908	865	2,749	2,730
Securities sold under agreements to repurchase and Securities loaned	254	301	797	930
Customer payables and Other	(497)	(352)	(1,348)	(862)
Total Interest expense	689	827	2,265	2,845
Net interest	$ 762	$ 557	$ 2,056	$ 1,132

Employee Benefit Plans (Net Per

Employee Benefit Plans (Net Periodic Benefit Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of Net Periodic Benefit Expense
Service cost, benefits earned during the period	$ 5	$ 6	$ 15	$ 18
Interest cost on projected benefit obligation	39	40	116	120
Expected return on plan assets	(30)	(27)	(89)	(82)
Net amortization of prior service cost (credit)	(4)	(3)	(14)	(9)
Net amortization of actuarial loss	6	6	19	18
Curtailment loss	0	3	0	3
Net periodic benefit expense	$ 16	$ 25	$ 47	$ 68

Income Taxes (Reconciliation of

Income Taxes (Reconciliation of the Provision for (Benefit from) Income Taxes and the U.S. Federal Statutory Income Tax Rate) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Remeasurement of Reserves and Related Interest Associated with Either Expiration of Applicable Statute of Limitations or New Information Regarding Status of Certain Internal Revenue Service Examinations
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation
Aggregate net discrete tax expense (benefit) from continuing operations			$ (609)
Planned Repatriation of Non-U.S. Earnings at Cost Lower Than Originally Estimated
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation
Aggregate net discrete tax expense (benefit) from continuing operations	$ (237)	$ (564)	$ (237)

Segment and Geographic Infor105

Segment and Geographic Information (Selected Financial Information by Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information
Total non-interest revenues	$ 7,005	$ 8,350	$ 25,361	$ 25,379
Interest income	1,451	1,384	4,321	3,977
Interest expense	689	827	2,265	2,845
Net interest	762	557	2,056	1,132
Net revenues	7,767	8,907	27,417	26,511
Income (loss) from continuing operations before income taxes	1,474	2,220	7,056	6,522
Provision for (benefit from) income taxes	423	463	1,704	1,263
Income from continuing operations	1,051	1,757	5,352	5,259
Discontinued operations:
Income (loss) from discontinued operations before income taxes	(4)	(8)	(13)	(11)
Provision for (benefit from) income taxes	(2)	(3)	(4)	(5)
Income (loss) from discontinued operations	(2)	(5)	(9)	(6)
Net income	1,049	1,752	5,343	5,253
Net income applicable to nonredeemable noncontrolling interests	31	59	124	156
Net income applicable to Morgan Stanley	1,018	1,693	5,219	5,097
Segment Reporting Information, Additional Information
Performance-based fee revenue at risk	456		456		$ 634
Gain on sale of retail property space		141		141
Intersegment Eliminations
Segment Reporting Information
Total non-interest revenues	(51)	(52)	(160)	(143)
Interest income	(151)	(124)	(394)	(369)
Interest expense	(151)	(127)	(394)	(374)
Net interest	0	3	0	5
Net revenues	(51)	(49)	(160)	(138)
Income (loss) from continuing operations before income taxes	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Income from continuing operations	0	0	0	0
Discontinued operations:
Income (loss) from discontinued operations before income taxes	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Income (loss) from discontinued operations	0	0	0	0
Net income	0	0	0	0
Net income applicable to nonredeemable noncontrolling interests	0	0	0	0
Net income applicable to Morgan Stanley	0	0	0	0
Institutional Securities
Segment Reporting Information
Total non-interest revenues	3,889	4,560	14,640	14,016
Interest income	825	859	2,418	2,498
Interest expense	810	903	2,524	3,073
Net interest	15	(44)	(106)	(575)
Net revenues	3,904	4,516	14,534	13,441
Income (loss) from continuing operations before income taxes	688	1,227	4,123	3,603
Provision for (benefit from) income taxes	141	89	658	171
Income from continuing operations	547	1,138	3,465	3,432
Discontinued operations:
Income (loss) from discontinued operations before income taxes	(5)	(9)	(14)	(18)
Provision for (benefit from) income taxes	(2)	(3)	(4)	(7)
Income (loss) from discontinued operations	(3)	(6)	(10)	(11)
Net income	544	1,132	3,455	3,421
Net income applicable to nonredeemable noncontrolling interests	26	41	100	77
Net income applicable to Morgan Stanley	518	1,091	3,355	3,344
Segment Reporting Information, Additional Information
Gain on sale of retail property space		84		84
Aggregate net discrete tax expense (benefit) from continuing operations		(237)	(564)	(846)
Institutional Securities | TransMontaigne Inc.
Segment Reporting Information, Additional Information
Gain on sale of retail property space		101		101
Wealth Management
Segment Reporting Information
Total non-interest revenues	2,889	3,174	9,172	9,370
Interest income	777	649	2,296	1,846
Interest expense	26	50	119	132
Net interest	751	599	2,177	1,714
Net revenues	3,640	3,773	11,349	11,084
Income (loss) from continuing operations before income taxes	824	800	2,564	2,249
Provision for (benefit from) income taxes	315	321	959	882
Income from continuing operations	509	479	1,605	1,367
Discontinued operations:
Income (loss) from discontinued operations before income taxes	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Income (loss) from discontinued operations	0	0	0	0
Net income	509	479	1,605	1,367
Net income applicable to nonredeemable noncontrolling interests	0	0	0	0
Net income applicable to Morgan Stanley	509	479	1,605	1,367
Segment Reporting Information, Additional Information
Gain on sale of retail property space		40		40
Investment Management
Segment Reporting Information
Total non-interest revenues	278	668	1,709	2,136
Interest income	0	0	1	2
Interest expense	4	1	16	14
Net interest	(4)	(1)	(15)	(12)
Net revenues	274	667	1,694	2,124
Income (loss) from continuing operations before income taxes	(38)	193	369	670
Provision for (benefit from) income taxes	(33)	53	87	210
Income from continuing operations	(5)	140	282	460
Discontinued operations:
Income (loss) from discontinued operations before income taxes	1	1	1	7
Provision for (benefit from) income taxes	0	0	0	2
Income (loss) from discontinued operations	1	1	1	5
Net income	(4)	141	283	465
Net income applicable to nonredeemable noncontrolling interests	5	18	24	79
Net income applicable to Morgan Stanley	$ (9)	123	$ 259	386
Segment Reporting Information, Additional Information
Gain on sale of retail property space		$ 17		$ 17

Segment and Geographic Infor106

Segment and Geographic Information (Assets by Segments) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Information
Assets	$ 834,113	$ 801,510
Institutional Securities
Segment Reporting Information
Assets	658,867	630,341
Wealth Management
Segment Reporting Information
Assets	170,295	165,147
Investment Management
Segment Reporting Information
Assets	$ 4,951	$ 6,022

Segment and Geographic Infor107

Segment and Geographic Information (Net Revenues by Geographic Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information
Net Revenues	$ 7,767	$ 8,907	$ 27,417	$ 26,511
Americas
Segment Reporting Information
Net Revenues	5,652	6,308	19,359	19,022
EMEA
Segment Reporting Information
Net Revenues	1,198	1,271	4,396	4,191
Asia-Pacific
Segment Reporting Information
Net Revenues	$ 917	$ 1,328	$ 3,662	$ 3,298

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Billions	Oct. 19, 2015	Apr. 20, 2015	Oct. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event
Dividends declared per common share		$ 0.15		$ 0.15	$ 0.1	$ 0.4	$ 0.25
Subsequent Event
Subsequent Event
Dividends declared per common share	$ 0.15
Dividends declared date	Oct. 19, 2015
Dividend payable date	Nov. 13, 2015
Shareholders of record, date	Oct. 30, 2015
Increase in long-term borrowings			$ 2.3