Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2018shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | JPMORGAN CHASE & CO |
Entity Central Index Key | 19,617 |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2018 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 3,325,410,725 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue | ||||
Investment banking fees | $ 1,832 | $ 1,868 | $ 5,736 | $ 5,594 |
Principal transactions | 2,964 | 2,721 | 10,698 | 9,440 |
Lending- and deposit-related fees | 1,542 | 1,497 | 4,514 | 4,427 |
Asset management, administration and commissions | 4,310 | 4,072 | 12,923 | 11,996 |
Investment securities losses | (46) | (1) | (371) | (38) |
Mortgage fees and related income | 262 | 429 | 1,051 | 1,239 |
Card income | 1,328 | 1,242 | 3,623 | 3,323 |
Other income | 1,160 | 952 | 4,041 | 3,197 |
Noninterest revenue | 13,352 | 12,780 | 42,215 | 39,178 |
Interest income | 19,840 | 16,687 | 56,404 | 47,379 |
Interest expense | 5,932 | 3,889 | 15,699 | 10,309 |
Net interest income | 13,908 | 12,798 | 40,705 | 37,070 |
Total net revenue | 27,260 | 25,578 | 82,920 | 76,248 |
Provision for credit losses | 948 | 1,452 | 3,323 | 3,982 |
Noninterest expense | ||||
Compensation expense | 8,108 | 7,697 | 25,308 | 23,710 |
Occupancy expense | 1,014 | 930 | 2,883 | 2,803 |
Technology, communications and equipment expense | 2,219 | 1,972 | 6,441 | 5,677 |
Professional and outside services | 2,086 | 1,955 | 6,333 | 5,646 |
Marketing | 798 | 710 | 2,396 | 2,179 |
Other expense | 1,398 | 1,306 | 4,313 | 4,605 |
Total noninterest expense | 15,623 | 14,570 | 47,674 | 44,620 |
Income before income tax expense | 10,689 | 9,556 | 31,923 | 27,646 |
Income tax expense | 2,309 | 2,824 | 6,515 | 7,437 |
Net income | 8,380 | 6,732 | 25,408 | 20,209 |
Net income applicable to common stockholders | $ 7,948 | $ 6,262 | $ 24,067 | $ 18,786 |
Net income per common share data | ||||
Basic earnings per share (in dollars per share) | $ 2.35 | $ 1.77 | $ 7.04 | $ 5.26 |
Diluted earnings per share (in dollars per share) | $ 2.34 | $ 1.76 | $ 7 | $ 5.22 |
Weighted-average basic shares (in shares) | 3,376.1 | 3,534.7 | 3,416.5 | 3,570.9 |
Weighted-average diluted shares (in shares) | 3,394.3 | 3,559.6 | 3,436.2 | 3,597 |
Cash dividends declared per common share (in dollars per share) | $ 0.80 | $ 0.56 | $ 1.92 | $ 1.56 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 8,380 | $ 6,732 | $ 25,408 | $ 20,209 |
Other comprehensive income/(loss), after–tax | ||||
Unrealized gains/(losses) on investment securities | (819) | 147 | (2,280) | 842 |
Translation adjustments, net of hedges | (31) | 0 | 84 | 7 |
Fair value hedges | 34 | (74) | ||
Cash flow hedges | (88) | 26 | (327) | 170 |
Defined benefit pension and OPEB plans | 19 | 22 | 78 | 26 |
DVA on fair value option elected liabilities | (402) | (112) | 125 | (179) |
Total other comprehensive income/(loss), after–tax | (1,287) | 83 | (2,394) | 866 |
Comprehensive income | $ 7,093 | $ 6,815 | $ 23,014 | $ 21,075 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | |
Assets | |||
Cash and due from banks | $ 23,225 | $ 25,898 | |
Deposits with banks | 395,872 | 405,406 | |
Federal funds sold and securities purchased under resale agreements (included $12,226 and $14,732 at fair value) | 217,632 | 198,422 | |
Securities borrowed (included $4,528 and $3,049 at fair value) | 122,434 | 105,112 | |
Trading assets (included assets pledged of $114,850 and $109,887) | 419,827 | 381,844 | |
Investment securities (included $200,030 and $202,225 at fair value and assets pledged of $10,534 and $17,969) | 231,398 | 249,958 | |
Loans (included $2,987 and $2,508 at fair value) | 954,318 | 930,697 | |
Allowance for loan losses | (13,128) | (13,604) | |
Loans, net of allowance for loan losses | 941,190 | 917,093 | |
Accrued interest and accounts receivable | 78,792 | 67,729 | |
Premises and equipment | 14,180 | 14,159 | |
Goodwill, MSRs and other intangible assets | 54,697 | 54,392 | |
Other assets (included $12,479 and $16,128 at fair value and assets pledged of $5,334 and $7,980) | 115,936 | 113,587 | |
Total assets | [1] | 2,615,183 | 2,533,600 |
Liabilities | |||
Deposits (included $20,500 and $21,321 at fair value) | 1,458,762 | 1,443,982 | |
Federal funds purchased and securities loaned or sold under repurchase agreements (included $1,059 and $697 at fair value) | 181,608 | 158,916 | |
Short-term borrowings (included $7,885 and $9,191 at fair value) | 64,635 | 51,802 | |
Trading liabilities | 151,150 | 123,663 | |
Accounts payable and other liabilities (included $5,159 and $9,208 at fair value) | 209,707 | 189,383 | |
Beneficial interests issued by consolidated VIEs (included $17 and $45 at fair value) | 20,241 | 26,081 | |
Long-term debt (included $54,112 and $47,519 at fair value) | 270,124 | 284,080 | |
Total liabilities | [1] | 2,356,227 | 2,277,907 |
Commitments and contingencies (refer to Notes 20, 21 and 22) | |||
Stockholders’ equity | |||
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,776,375 and 2,606,750 shares) | 27,764 | 26,068 | |
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 | |
Additional paid-in capital | 89,333 | 90,579 | |
Retained earnings | 195,180 | 177,676 | |
Accumulated other comprehensive loss | (2,425) | (119) | |
Shares held in restricted stock units (“RSU”) Trust, at cost (472,953 shares) | (21) | (21) | |
Treasury stock, at cost (779,523,170 and 679,635,064 shares) | (54,980) | (42,595) | |
Total stockholders’ equity | 258,956 | 255,693 | |
Total liabilities and stockholders’ equity | 2,615,183 | 2,533,600 | |
VIEs consolidated by the Firm | |||
Assets | |||
Trading assets (included assets pledged of $114,850 and $109,887) | 1,567 | 1,449 | |
Loans (included $2,987 and $2,508 at fair value) | 57,114 | 68,995 | |
Other assets (included $12,479 and $16,128 at fair value and assets pledged of $5,334 and $7,980) | 2,407 | 2,674 | |
Total assets | 61,088 | 73,118 | |
Liabilities | |||
Beneficial interests issued by consolidated VIEs (included $17 and $45 at fair value) | 20,241 | 26,081 | |
All other liabilities | 330 | 349 | |
Total liabilities | $ 20,571 | $ 26,430 | |
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2018 , and December 31, 2017 . The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase . The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. For a further discussion, refer to Note 13 . (in millions) Sep 30, 2018 Dec 31, 2017 Assets Trading assets $ 1,567 $ 1,449 Loans 57,114 68,995 All other assets 2,407 2,674 Total assets $ 61,088 $ 73,118 Liabilities Beneficial interests issued by consolidated VIEs $ 20,241 $ 26,081 All other liabilities 330 349 Total liabilities $ 20,571 $ 26,430 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Assets pledged | $ 130,700 | $ 135,800 |
Fair value | 200,030 | 201,678 |
Fair value | 202,225 | |
Loans | $ 2,987 | $ 2,508 |
Stockholders' equity | ||
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (in shares) | 2,776,375 | 2,606,750 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 9,000,000,000 | 9,000,000,000 |
Common stock, shares issued (in shares) | 4,104,933,895 | 4,104,933,895 |
Shares held in Trust, at cost (in shares) | 472,953 | 472,953 |
Treasury stock, at cost (in shares) | 779,523,170 | 679,635,064 |
Trading assets | ||
Assets | ||
Assets pledged | $ 114,850 | $ 109,887 |
Securities | ||
Assets | ||
Assets pledged | 10,534 | 17,969 |
Other assets | ||
Assets | ||
Assets pledged | 5,334 | 7,980 |
Recurring | ||
Assets | ||
Federal funds sold and securities purchased under resale agreements | 12,226 | 14,732 |
Securities borrowed | 4,528 | 3,049 |
Fair value | 200,030 | |
Fair value | 202,225 | |
Loans | 2,987 | 2,508 |
Liabilities | ||
Deposits | 20,500 | 21,321 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,059 | 697 |
Short-term borrowings | 7,885 | 9,191 |
Accounts payable and other liabilities | 5,159 | 9,208 |
Beneficial interests issued by consolidated VIEs | 17 | 45 |
Long-term debt | 54,112 | 47,519 |
Recurring | Other assets | ||
Assets | ||
Other assets | $ 12,479 | $ 16,128 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions | Total | Preferred stock | Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Shares held in RSU Trust, at cost | Treasury stock, at cost |
Beginning balance at Dec. 31, 2016 | $ 26,068 | $ 4,105 | $ 91,627 | $ 162,440 | $ (1,175) | $ (21) | $ (28,854) | |
Cumulative effect of changes in accounting principles at Dec. 31, 2016 | 0 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance | 0 | |||||||
Shares issued and commitments to issue common stock for employee shared-based compensation awards, and related tax effects | (680) | |||||||
Other | (250) | |||||||
Net income | $ 20,209 | 20,209 | ||||||
Dividends declared: | ||||||||
Preferred stock | (1,235) | |||||||
Common stock ($1.92 and $1.56 per share) | (5,587) | |||||||
Other comprehensive income/(loss) | 866 | 866 | ||||||
Repurchase | (10,602) | |||||||
Reissuance | 1,471 | |||||||
Ending balance at Sep. 30, 2017 | 258,382 | 26,068 | 4,105 | 90,697 | 175,827 | (309) | (21) | (37,985) |
Beginning balance at Jun. 30, 2017 | (392) | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 6,732 | |||||||
Dividends declared: | ||||||||
Other comprehensive income/(loss) | 83 | |||||||
Ending balance at Sep. 30, 2017 | 258,382 | 26,068 | 4,105 | 90,697 | 175,827 | (309) | (21) | (37,985) |
Beginning balance at Dec. 31, 2017 | 255,693 | 26,068 | 4,105 | 90,579 | 177,676 | (119) | (21) | (42,595) |
Cumulative effect of changes in accounting principles at Dec. 31, 2017 | (183) | 88 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance | 1,696 | |||||||
Shares issued and commitments to issue common stock for employee shared-based compensation awards, and related tax effects | (897) | |||||||
Other | (349) | |||||||
Net income | 25,408 | 25,408 | ||||||
Dividends declared: | ||||||||
Preferred stock | (1,167) | |||||||
Common stock ($1.92 and $1.56 per share) | (6,554) | |||||||
Other comprehensive income/(loss) | (2,394) | (2,394) | ||||||
Repurchase | (14,055) | |||||||
Reissuance | 1,670 | |||||||
Ending balance at Sep. 30, 2018 | 258,956 | 27,764 | 4,105 | 89,333 | 195,180 | (2,425) | (21) | (54,980) |
Beginning balance at Jun. 30, 2018 | (1,138) | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 8,380 | |||||||
Dividends declared: | ||||||||
Other comprehensive income/(loss) | (1,287) | |||||||
Ending balance at Sep. 30, 2018 | $ 258,956 | $ 27,764 | $ 4,105 | $ 89,333 | $ 195,180 | $ (2,425) | $ (21) | $ (54,980) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Dividends declared: | ||
Dividends declared, Common stock (in dollars per share) | $ 1.92 | $ 1.56 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Operating activities | ||
Net income | $ 25,408 | $ 20,209 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Provision for credit losses | 3,323 | 3,982 |
Depreciation and amortization | 5,716 | 4,547 |
Deferred tax (benefit)/expense | (323) | (187) |
Other | 2,179 | 1,655 |
Originations and purchases of loans held-for-sale | (68,235) | (75,907) |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 68,214 | 75,255 |
Net change in: | ||
Trading assets | (44,427) | (31,189) |
Securities borrowed | (17,344) | (5,191) |
Accrued interest and accounts receivable | (11,335) | (9,795) |
Other assets | 2,909 | 18,668 |
Trading liabilities | 21,580 | (23,162) |
Accounts payable and other liabilities | 26,677 | (10,124) |
Other operating adjustments | (577) | 7,858 |
Net cash provided by/(used in) operating activities | 13,765 | (23,381) |
Net change in: | ||
Federal funds sold and securities purchased under resale agreements | (19,259) | 44,463 |
Held-to-maturity securities: | ||
Proceeds from paydowns and maturities | 2,268 | 3,508 |
Purchases | (8,613) | (594) |
Available-for-sale securities: | ||
Proceeds from paydowns and maturities | 29,618 | 43,536 |
Proceeds from sales | 34,322 | 57,640 |
Purchases | (46,530) | (73,717) |
Proceeds from sales and securitizations of loans held-for-investment | 20,154 | 11,600 |
Other changes in loans, net | (49,755) | (39,385) |
All other investing activities, net | (1,987) | 655 |
Net cash provided by/(used in) investing activities | (39,782) | 47,706 |
Net change in: | ||
Deposits | 15,274 | 51,352 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 22,719 | 3,731 |
Short-term borrowings | 12,974 | 19,006 |
Beneficial interests issued by consolidated VIEs | 975 | (1,312) |
Proceeds from long-term borrowings | 54,842 | 46,311 |
Payments of long-term borrowings | (69,636) | (65,932) |
Proceeds from issuance of preferred stock | 1,655 | 0 |
Treasury stock repurchased | (14,055) | (10,602) |
Dividends paid | (6,989) | (6,478) |
All other financing activities, net | (1,440) | 329 |
Net cash provided by financing activities | 16,319 | 36,405 |
Effect of exchange rate changes on cash and due from banks and deposits with banks | (2,509) | 7,272 |
Net increase/(decrease) in cash and due from banks and deposits with banks | (12,207) | 68,002 |
Cash and due from banks and deposits with banks at the beginning of the period | 431,304 | 391,154 |
Cash and due from banks and deposits with banks at the end of the period | 419,097 | 459,156 |
Cash interest paid | 15,144 | 10,294 |
Cash income taxes paid, net | $ 2,197 | $ 3,238 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of presentation JPMorgan Chase & Co. (“JPMorgan Chase” or “the Firm”), a financial holding company incorporated under Delaware law in 1968, is a leading global financial services firm and one of the largest banking institutions in the U.S., with operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. For a further discussion of the Firm’s business segments, refer to Note 23 . The accounting and financial reporting policies of JPMorgan Chase and its subsidiaries conform to U.S. GAAP. Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by regulatory authorities. The unaudited Consolidated Financial Statements prepared in conformity with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expense, and the disclosures of contingent assets and liabilities. Actual results could be different from these estimates. In the opinion of management, all normal, recurring adjustments have been included such that this interim financial information is fairly presented. These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements, and related notes thereto, included in JPMorgan Chase ’s 2017 Annual Report. Certain amounts reported in prior periods have been reclassified to conform with the current presentation. Consolidation The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated balance sheets. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. For a further description of JPMorgan Chase’s accounting policies regarding consolidation, refer to Notes 1 and 14 of JPMorgan Chase’s 2017 Annual Report. Offsetting assets and liabilities U.S. GAAP permits entities to present derivative receivables and derivative payables with the same counterparty and the related cash collateral receivables and payables on a net basis on the Consolidated balance sheets when a legally enforceable master netting agreement exists. U.S. GAAP also permits securities financing activities to be presented on a net basis when specified conditions are met, including the existence of a legally enforceable master netting agreement. The Firm has elected to net such balances when the specified conditions are met. For further information on offsetting assets and liabilities, refer to Note 1 of JPMorgan Chase ’s 2017 Annual Report. Application of U.S. GAAP related to the Tax Cuts and Jobs Act (“TCJA”) SEC Staff Accounting Bulletin No. 118 On December 22, 2017, the TCJA was signed into law and the Firm recorded the estimated impact of the deemed repatriation of the Firm’s unremitted non-U.S. earnings and the remeasurement of deferred taxes under the TCJA. These provisional amounts represent estimates under SEC guidance, which provides a one-year measurement period in which to refine the estimates based on new information or the issuance of interpretative guidance. Based on legislative guidance and adjustments to the 2017 federal tax return as filed, the Firm recorded a net tax benefit of $132 million in the third quarter for changes in the estimates to both the remeasurement of certain deferred taxes and the deemed repatriation tax on non-U.S. earnings. The year-to-date benefit recorded for changes in estimates was $305 million and the Firm may recognize additional adjustments during the fourth quarter as a result of the issuance of additional legislative and accounting guidance. The Firm considers any legislative or accounting guidance issued as of the balance sheet date when evaluating potential refinements to these estimates. Accounting standards adopted January 1, 2018 The following table identifies the standards adopted, and the note where further information on the impact of the new guidance can be found: Revenue recognition – revenue from contracts with customers Note 5 Recognition and measurement of financial assets and financial liabilities Notes 2 and 9 Treatment of restricted cash on the statement of cash flows Note 18 Presentation of net periodic pension cost and net periodic postretirement benefit cost Note 7 Premium amortization on purchased callable debt securities Notes 9 and 17 Hedge accounting Notes 4, 9 and 17 Reclassification of certain tax effects from AOCI Note 17 Certain of the new accounting standards were applied retrospectively and prior period amounts were revised accordingly. The most significant of the new standards was revenue recognition, which requires gross presentation of certain costs that were previously offset against revenue. This change resulted in noninterest revenue and noninterest expense each increasing by $252 million and $777 million for the three and nine months ended September 30, 2017, respectively, with no impact to net income. Upon adoption of the restricted cash guidance, to align the Consolidated balance sheets with the Consolidated statements of cash flows, the Firm reclassified restricted cash into cash and due from banks or deposits with banks. In addition, for the Firm’s Consolidated statements of cash flows, cash is defined as those amounts included in cash and due from banks and deposits with banks. This guidance was applied retrospectively and, accordingly, prior period amounts have been revised, resulting in cash and due from banks and deposits with banks increasing by $71 million and $1.1 billion , respectively, and other assets decreasing by $1.2 billion at December 31, 2017. Business changes and developments On October 30, 2018, the Firm redeemed $1.7 billion |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair value measurement For a discussion of the Firm’s valuation methodologies for assets, liabilities and lending-related commitments measured at fair value and the fair value hierarchy, refer to Note 2 of JPMorgan Chase’s 2017 Annual Report. The following table presents the assets and liabilities reported at fair value as of September 30, 2018 , and December 31, 2017 , by major product category and fair value hierarchy . Assets and liabilities measured at fair value on a recurring basis Fair value hierarchy Derivative September 30, 2018 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 12,226 $ — $ — $ 12,226 Securities borrowed — 4,528 — — 4,528 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) — 46,252 529 — 46,781 Residential – nonagency — 1,681 77 — 1,758 Commercial – nonagency — 1,420 13 — 1,433 Total mortgage-backed securities — 49,353 619 — 49,972 U.S. Treasury and government agencies (a) 40,815 7,443 — — 48,258 Obligations of U.S. states and municipalities — 8,785 699 — 9,484 Certificates of deposit, bankers’ acceptances and commercial paper — 3,070 — — 3,070 Non-U.S. government debt securities 26,824 28,875 164 — 55,863 Corporate debt securities — 23,210 395 — 23,605 Loans (b) — 40,051 1,533 — 41,584 Asset-backed securities — 2,779 76 — 2,855 Total debt instruments 67,639 163,566 3,486 — 234,691 Equity securities 104,701 405 329 — 105,435 Physical commodities (c) 3,727 1,256 — — 4,983 Other — 14,188 413 — 14,601 Total debt and equity instruments (d) 176,067 179,415 4,228 — 359,710 Derivative receivables: Interest rate 715 258,744 2,000 (238,062 ) 23,397 Credit — 22,553 952 (22,923 ) 582 Foreign exchange 734 187,377 773 (171,841 ) 17,043 Equity — 43,791 3,141 (36,828 ) 10,104 Commodity — 22,129 239 (13,432 ) 8,936 Total derivative receivables (e) 1,449 534,594 7,105 (483,086 ) 60,062 Total trading assets (f) 177,516 714,009 11,333 (483,086 ) 419,772 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 63,110 — — 63,110 Residential – nonagency — 9,216 1 — 9,217 Commercial – nonagency — 7,048 — — 7,048 Total mortgage-backed securities — 79,374 1 — 79,375 U.S. Treasury and government agencies 27,816 — — — 27,816 Obligations of U.S. states and municipalities — 38,121 — — 38,121 Certificates of deposit — 75 — — 75 Non-U.S. government debt securities 16,544 8,130 — — 24,674 Corporate debt securities — 2,056 — — 2,056 Asset-backed securities: Collateralized loan obligations — 20,048 61 — 20,109 Other — 7,804 — — 7,804 Total available-for-sale securities 44,360 155,608 62 — 200,030 Loans — 2,847 140 — 2,987 Mortgage servicing rights — — 6,433 — 6,433 Other assets (f)(g) 10,684 20 1,063 — 11,767 Total assets measured at fair value on a recurring basis $ 232,560 $ 889,238 $ 19,031 $ (483,086 ) $ 657,743 Deposits $ — $ 16,060 $ 4,440 $ — $ 20,500 Federal funds purchased and securities loaned or sold under repurchase agreements — 1,059 — — 1,059 Short-term borrowings — 5,914 1,971 — 7,885 Trading liabilities: Debt and equity instruments (d) 84,958 24,403 96 — 109,457 Derivative payables: Interest rate 310 232,614 1,309 (227,142 ) 7,091 Credit 22,435 925 (21,908 ) 1,452 Foreign exchange 880 175,664 1,075 (165,217 ) 12,402 Equity — 45,937 5,418 (39,377 ) 11,978 Commodity — 22,075 764 (14,069 ) 8,770 Total derivative payables (e) 1,190 498,725 9,491 (467,713 ) 41,693 Total trading liabilities 86,148 523,128 9,587 (467,713 ) 151,150 Accounts payable and other liabilities 5,127 20 12 — 5,159 Beneficial interests issued by consolidated VIEs — 16 1 — 17 Long-term debt — 34,074 20,038 — 54,112 Total liabilities measured at fair value on a recurring basis $ 91,275 $ 580,271 $ 36,049 $ (467,713 ) $ 239,882 Fair value hierarchy Derivative December 31, 2017 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 14,732 $ — $ — $ 14,732 Securities borrowed — 3,049 — — 3,049 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) — 41,515 307 — 41,822 Residential – nonagency — 1,835 60 — 1,895 Commercial – nonagency — 1,645 11 — 1,656 Total mortgage-backed securities — 44,995 378 — 45,373 U.S. Treasury and government agencies (a) 30,758 6,475 1 — 37,234 Obligations of U.S. states and municipalities — 9,067 744 — 9,811 Certificates of deposit, bankers’ acceptances and commercial paper — 226 — — 226 Non-U.S. government debt securities 28,887 28,831 78 — 57,796 Corporate debt securities — 24,146 312 — 24,458 Loans (b) — 35,242 2,719 — 37,961 Asset-backed securities — 3,284 153 — 3,437 Total debt instruments 59,645 152,266 4,385 — 216,296 Equity securities 87,346 197 295 — 87,838 Physical commodities (c) 4,924 1,322 — — 6,246 Other — 14,197 690 — 14,887 Total debt and equity instruments (d) 151,915 167,982 5,370 — 325,267 Derivative receivables: Interest rate 181 314,107 1,704 (291,319 ) 24,673 Credit — 21,995 1,209 (22,335 ) 869 Foreign exchange 841 158,834 557 (144,081 ) 16,151 Equity — 37,722 2,318 (32,158 ) 7,882 Commodity — 19,875 210 (13,137 ) 6,948 Total derivative receivables (e) 1,022 552,533 5,998 (503,030 ) 56,523 Total trading assets (f) 152,937 720,515 11,368 (503,030 ) 381,790 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 70,280 — — 70,280 Residential – nonagency — 11,366 1 — 11,367 Commercial – nonagency — 5,025 — — 5,025 Total mortgage-backed securities — 86,671 1 — 86,672 U.S. Treasury and government agencies 22,745 — — — 22,745 Obligations of U.S. states and municipalities — 32,338 — — 32,338 Certificates of deposit — 59 — — 59 Non-U.S. government debt securities 18,140 9,154 — — 27,294 Corporate debt securities — 2,757 — — 2,757 Asset-backed securities: Collateralized loan obligations — 20,720 276 — 20,996 Other — 8,817 — — 8,817 Equity securities (g) 547 — — — 547 Total available-for-sale securities 41,432 160,516 277 — 202,225 Loans — 2,232 276 — 2,508 Mortgage servicing rights — — 6,030 — 6,030 Other assets (f)(g) 13,795 343 1,265 — 15,403 Total assets measured at fair value on a recurring basis $ 208,164 $ 901,387 $ 19,216 $ (503,030 ) $ 625,737 Deposits $ — $ 17,179 $ 4,142 $ — $ 21,321 Federal funds purchased and securities loaned or sold under repurchase agreements — 697 — — 697 Short-term borrowings — 7,526 1,665 — 9,191 Trading liabilities: Debt and equity instruments (d) 64,664 21,183 39 — 85,886 Derivative payables: Interest rate 170 282,825 1,440 (277,306 ) 7,129 Credit — 22,009 1,244 (21,954 ) 1,299 Foreign exchange 794 154,075 953 (143,349 ) 12,473 Equity — 39,668 5,727 (36,203 ) 9,192 Commodity — 21,017 884 (14,217 ) 7,684 Total derivative payables (e) 964 519,594 10,248 (493,029 ) 37,777 Total trading liabilities 65,628 540,777 10,287 (493,029 ) 123,663 Accounts payable and other liabilities 9,074 121 13 — 9,208 Beneficial interests issued by consolidated VIEs — 6 39 — 45 Long-term debt — 31,394 16,125 — 47,519 Total liabilities measured at fair value on a recurring basis $ 74,702 $ 597,700 $ 32,271 $ (493,029 ) $ 211,644 (a) At September 30, 2018 , and December 31, 2017 , included total U.S. government-sponsored enterprise obligations of $77.3 billion and $78.0 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2018 , and December 31, 2017 , included within trading loans were $13.8 billion and $11.4 billion , respectively, of residential first-lien mortgages, and $2.6 billion and $4.2 billion , respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $9.2 billion and $5.7 billion , respectively, and reverse mortgages of zero and $836 million respectively. (c) Physical commodities inventories are generally accounted for at the lower of cost or net realizable value. “Net realizable value” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, net realizable value approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when net realizable value is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, refer to Note 4 . To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. (d) Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). (e) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. The level 3 balances would be reduced if netting were applied, including the netting benefit associated with cash collateral. (f) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not required to be classified in the fair value hierarchy. At September 30, 2018 , and December 31, 2017 , the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $767 million and $779 million , respectively. Included in these balances at September 30, 2018 , and December 31, 2017 , were trading assets of $55 million and $54 million , respectively, and other assets of $712 million and $725 million , respectively. (g) Effective January 1, 2018, the Firm adopted the recognition and measurement guidance. Equity securities that were previously reported as AFS securities were reclassified to other assets upon adoption. Transfers between levels for instruments carried at fair value on a recurring basis For both the three months ended September 30, 2018 and 2017 and the nine months ended September 30, 2017 there were no individually significant transfers. For the nine months ended September 30, 2018, the only significant transfers were between levels 2 and 3. Significant transfers from level 3 to level 2 included the following: • $1.2 billion of total debt and equity instruments, the majority of which were trading loans, driven by an increase in observability. • $1.0 billion of gross equity derivative receivables and $1.2 billion of gross equity derivative payables as a result of an increase in observability and a decrease in the significance of unobservable inputs. Significant transfers from level 2 to level 3 included the following: • $1.0 billion of gross equity derivative payables as a result of a decrease in observability and an increase in the significance of unobservable inputs. All transfers are based on changes in the observability of the valuation inputs and are assumed to occur at the beginning of the quarterly reporting period in which they occur. For further information on the Firm’s valuation process and a detailed discussion of the determination of fair value for individual financial instruments, refer to Note 2 of JPMorgan Chase’s 2017 Annual Report. The following table presents the Firm’s primary level 3 financial instruments, the valuation techniques used to measure the fair value of those financial instruments, the significant unobservable inputs, the range of values for those inputs and, for certain instruments, the weighted averages of such inputs. While the determination to classify an instrument within level 3 is based on the significance of the unobservable inputs to the overall fair value measurement, level 3 financial instruments typically include observable components (that is, components that are actively quoted and can be validated to external sources) in addition to the unobservable components. The level 1 and/or level 2 inputs are not included in the table. In addition, the Firm manages the risk of the observable components of level 3 financial instruments using securities and derivative positions that are classified within levels 1 or 2 of the fair value hierarchy. The range of values presented in the table is representative of the highest and lowest level input used to value the significant groups of instruments within a product/instrument classification. Where provided, the weighted averages of the input values presented in the table are calculated based on the fair value of the instruments that the input is being used to value. In the Firm’s view, the input range and the weighted average value do not reflect the degree of input uncertainty or an assessment of the reasonableness of the Firm’s estimates and assumptions. Rather, they reflect the characteristics of the various instruments held by the Firm and the relative distribution of instruments within the range of characteristics. For example, two option contracts may have similar levels of market risk exposure and valuation uncertainty, but may have significantly different implied volatility levels because the option contracts have different underlyings, tenors, or strike prices. The input range and weighted average values will therefore vary from period-to-period and parameter-to-parameter based on the characteristics of the instruments held by the Firm at each balance sheet date. For the Firm’s derivatives and structured notes positions classified within level 3 at September 30, 2018, interest rate correlation inputs used in estimating fair value were concentrated towards the upper end of the range; equity correlation, equity-FX, and equity-IR correlation inputs were concentrated in the middle of the range; commodity correlation inputs were concentrated in the middle of the range; credit correlation inputs were concentrated towards the lower end of the range; and the interest rate-foreign exchange (“IR-FX”) correlation inputs were distributed across the range. In addition, the interest rate spread volatility inputs used in estimating fair value were distributed across the range; equity volatilities and commodity volatilities were concentrated towards the lower end of the range; and forward commodity prices used in estimating the fair value of commodity derivatives were concentrated towards the lower end of the range. Prepayment speed inputs used in estimating fair value of interest rate derivatives were concentrated towards the lower end of the range. Recovery rate, yield and prepayment speed inputs used in estimating fair value of credit derivatives were distributed across the range; credit spreads and conditional default rates were concentrated towards the lower end of the range; loss severity and price inputs were concentrated towards the upper end of the range. Level 3 inputs (a) September 30, 2018 Product/Instrument Fair value (in millions) Principal valuation technique Unobservable inputs (g) Range of input values Weighted average Residential mortgage-backed securities and loans (b) $ 823 Discounted cash flows Yield 0 % – 28 % 6 % Prepayment speed 0 % – 39 % 9 % Conditional default rate 0 % – 6 % 1 % Loss severity 0 % – 100 % 5 % Commercial mortgage-backed securities and loans (c) 439 Market comparables Price $ 4 – $ 101 $ 93 Obligations of U.S. states and municipalities 699 Market comparables Price $ 60 – $ 100 $ 97 Corporate debt securities 395 Market comparables Price $ 3 – $ 110 $ 80 Loans (d) 1,031 Market comparables Price $ 3 – $ 102 $ 79 Asset-backed securities 61 Discounted cash flows Credit spread 219 bps 219 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 30 % 30 % 76 Market comparables Price $ 0 – $ 100 $ 51 Net interest rate derivatives 528 Option pricing Interest rate spread volatility 16 bps – 38 bps Interest rate correlation (45 )% – 97 % IR-FX correlation 55 % – 60 % 163 Discounted cash flows Prepayment speed 0 % – 30 % Net credit derivatives 26 Discounted cash flows Credit correlation 35 % – 60 % Credit spread 6 bps – 1,543 bps Recovery rate 20 % – 70 % Yield 3 % – 52 % Prepayment speed 5 % – 17 % Conditional default rate 0 % – 100 % Loss severity 0 % – 100 % 1 Market comparables Price $ 10 – $ 98 Net foreign exchange derivatives (121 ) Option pricing IR-FX correlation (45 )% – 60 % (181 ) Discounted cash flows Prepayment speed 8 % – 9 % Net equity derivatives (2,277 ) Option pricing Equity volatility 10 % – 60 % Equity correlation 10 % – 95 % Equity-FX correlation (75 )% – 60 % Equity-IR correlation 20 % – 60 % Net commodity derivatives (525 ) Option pricing Forward commodity price $ 61 – $ 83 per barrel Commodity volatility 5 % – 48 % Commodity correlation (52 )% – 95 % MSRs 6,433 Discounted cash flows Refer to Note 14 Other assets 322 Discounted cash flows Credit spread 70 bps 70 bps Yield 8 % – 10 % 8 % 1,154 Market comparables Price $ 34 – $ 106 $ 45 EBITDA multiple 3.0x – 9.2x 8.4x Long-term debt, short-term borrowings, and deposits (e) 26,449 Option pricing Interest rate spread volatility 16 bps – 38 bps Interest rate correlation (45 )% – 97 % IR-FX correlation (45 )% – 60 % Equity correlation 10 % – 95 % Equity-FX correlation (75 )% – 60 % Equity-IR correlation 20 % – 60 % Other level 3 assets and liabilities, net (f) 384 (a) The categories presented in the table have been aggregated based upon the product type, which may differ from their classification on the Consolidated balance sheets. Furthermore, the inputs presented for each valuation technique in the table are, in some cases, not applicable to every instrument valued using the technique as the characteristics of the instruments can differ. (b) Includes U.S. government agency securities of $502 million , nonagency securities of $78 million and trading loans of $243 million . (c) Includes U.S. government agency securities of $27 million , nonagency securities of $13 million , trading loans of $259 million and non-trading loans of $140 million . (d) Comprises trading loans. (e) Long-term debt, short-term borrowings and deposits include structured notes issued by the Firm that are financial instruments that typically contain embedded derivatives. The estimation of the fair value of structured notes includes the derivative features embedded within the instrument. The significant unobservable inputs are broadly consistent with those presented for derivative receivables. (f) Includes level 3 assets and liabilities that are insignificant both individually and in aggregate. (g) Price is a significant unobservable input for certain instruments. When quoted market prices are not readily available, reliance is generally placed on price-based internal valuation techniques. The price input is expressed assuming a par value of $100 . Changes in and ranges of unobservable inputs For a discussion of the impact on fair value of changes in unobservable inputs and the relationships between unobservable inputs as well as a description of attributes of the underlying instruments and external market factors that affect the range of inputs used in the valuation of the Firm’s positions refer to Note 2 of JPMorgan Chase’s 2017 Annual Report. Changes in level 3 recurring fair value measurements The following tables include a rollforward of the Consolidated balance sheets amounts (including changes in fair value) for financial instruments classified by the Firm within level 3 of the fair value hierarchy for the three and nine months ended September 30, 2018 and 2017. When a determination is made to classify a financial instrument within level 3, the determination is based on the significance of the unobservable parameters to the overall fair value measurement. However, level 3 financial instruments typically include, in addition to the unobservable or level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources); accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. Also, the Firm risk-manages the observable components of level 3 financial instruments using securities and derivative positions that are classified within level 1 or 2 of the fair value hierarchy; as these level 1 and level 2 risk management instruments are not included below, the gains or losses in the following tables do not reflect the effect of the Firm’s risk management activities related to such level 3 instruments. Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 478 $ 2 $ 14 $ (28 ) $ (17 ) $ 83 $ (3 ) $ 529 $ — Residential – nonagency 87 1 — (6 ) (3 ) 18 (20 ) 77 1 Commercial – nonagency 18 (1 ) — — — 9 (13 ) 13 (1 ) Total mortgage-backed securities 583 2 14 (34 ) (20 ) 110 (36 ) 619 — U.S. Treasury and government agencies — — — — — — — — — Obligations of U.S. states and municipalities 736 8 26 (70 ) (1 ) — — 699 7 Non-U.S. government debt securities 183 (9 ) 44 (29 ) (2 ) 1 (24 ) 164 (9 ) Corporate debt securities 274 (2 ) 156 (87 ) (4 ) 82 (24 ) 395 (3 ) Loans 1,986 17 188 (146 ) (199 ) 48 (361 ) 1,533 3 Asset-backed securities 87 6 5 (7 ) (13 ) 5 (7 ) 76 3 Total debt instruments 3,849 22 433 (373 ) (239 ) 246 (452 ) 3,486 1 Equity securities 288 20 6 (48 ) — 82 (19 ) 329 (18 ) Other 406 30 13 — (37 ) 2 (1 ) 413 10 Total trading assets – debt and equity instruments 4,543 72 (c) 452 (421 ) (276 ) 330 (472 ) 4,228 (7 ) (c) Net derivative receivables: (a) Interest rate 489 236 28 (22 ) (101 ) 68 (7 ) 691 216 Credit (24 ) (19 ) 1 — 47 6 16 27 (15 ) Foreign exchange (245 ) (56 ) 29 (7 ) (49 ) (2 ) 28 (302 ) (54 ) Equity (2,578 ) (94 ) 643 (635 ) 622 (251 ) 16 (2,277 ) (121 ) Commodity (752 ) 318 — — (113 ) 15 7 (525 ) 138 Total net derivative receivables (3,110 ) 385 (c) 701 (664 ) 406 (164 ) 60 (2,386 ) 164 (c) Available-for-sale securities: Asset-backed securities 147 — — — (86 ) — — 61 — Other 1 — — — — — — 1 — Total available-for-sale securities 148 — — — (86 ) — — 62 — Loans 159 (1 ) (c) 1 — (19 ) — — 140 (1 ) (c) Mortgage servicing rights 6,241 98 (e) 291 (2 ) (195 ) — — 6,433 98 (e) Other assets 1,225 (160 ) (c) 2 — (7 ) 3 — 1,063 (160 ) (c) Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 4,305 $ (84 ) (c)(i) $ — $ — $ 517 $ (170 ) $ 1 $ (129 ) $ 4,440 $ (82 ) (c)(i) Short-term borrowings 2,209 (47 ) (c)(i) — — 713 (885 ) 6 (25 ) 1,971 (31 ) (c)(i) Trading liabilities – debt and equity instruments 43 36 (c) (6 ) 19 — (2 ) 7 (1 ) 96 36 (c) Accounts payable and other liabilities 8 1 — — — — 3 — 12 1 Beneficial interests issued by consolidated VIEs 1 — — — — — — — 1 — Long-term debt 18,262 194 (c)(i) — — 3,551 (1,809 ) 59 (219 ) 20,038 192 (c)(i) Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized gains/(losses) Transfers into level 3 (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 365 $ (2 ) $ — $ (15 ) $ (20 ) $ 10 $ (15 ) $ 323 $ (2 ) Residential – nonagency 98 6 4 (4 ) (12 ) 50 (35 ) 107 5 Commercial – nonagency 65 3 10 (24 ) — 3 (30 ) 27 3 Total mortgage-backed securities 528 7 14 (43 ) (32 ) 63 (80 ) 457 6 U.S. Treasury and government agencies — — — — — 1 — 1 — Obligations of U.S. states and municipalities 681 3 31 — — — — 715 3 Non-U.S. government debt securities 37 — 252 (217 ) — 23 (15 ) 80 — Corporate debt securities 461 7 193 (327 ) (22 ) 68 (19 ) 361 8 Loans 4,488 131 564 (1,498 ) (421 ) 246 (303 ) 3,207 71 Asset-backed securities 83 5 170 (10 ) (8 ) 36 (5 ) 271 4 Total debt instruments 6,278 153 1,224 (2,095 ) (483 ) 437 (422 ) 5,092 92 Equity securities 284 6 29 (40 ) — 16 (7 ) 288 7 Other 731 20 5 (38 ) (25 ) — (2 ) 691 16 Total trading assets – debt and equity instruments 7,293 179 (c) 1,258 (2,173 ) (508 ) 453 (431 ) 6,071 115 (c) Net derivative receivables: (a) Interest rate 712 101 16 (23 ) (182 ) 21 19 664 (7 ) Credit (45 ) (32 ) — (1 ) (2 ) 40 4 (36 ) (22 ) Foreign exchange (686 ) 16 9 (2 ) 68 (39 ) 95 (539 ) 37 Equity (2,444 ) (10 ) 355 (184 ) (132 ) (1 ) 41 (2,375 ) 82 Commodity (58 ) (30 ) — — (3 ) (2 ) (7 ) (100 ) (51 ) Total net derivative receivables (2,521 ) 45 (c) 380 (210 ) (251 ) 19 152 (2,386 ) 39 (c) Available-for-sale securities: Asset-backed securities 547 2 — — (63 ) — — 486 2 Other 1 — — — — — — 1 — Total available-for-sale securities 548 2 (d) — — (63 ) — — 487 2 (d) Loans 305 8 (c) — (26 ) (10 ) — — 277 8 (c) Mortgage servicing rights 5,753 (66 ) (e) 253 (2 ) (200 ) — — 5,738 (66 ) (e) Other assets 1,934 18 (c) 3 (2 ) (82 ) — — 1,871 16 (c) Fair value measurements using significant unobservable inputs Three months ended Fair at July 1, 2017 Total realized/unrealized (gains)/losses Transfers into level 3 (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 2,131 $ 33 (c) $ — $ — $ 1,909 $ (58 ) $ — $ (177 ) $ 3,838 $ 27 (c) Federal funds purchased and securities loaned or sold under repurchase agreements — — — — — — 1 — 1 — Short-term borrowings 1,314 33 (c) — — 818 (631 ) 13 (76 ) 1,471 21 (c) Trading liabilities – debt and equity instruments 36 2 (c) (23 ) 28 — — — — 43 3 (c) Accounts payable and other liabilities 10 — — — — (1 ) — — 9 — Beneficial interests issued by consolidated VIEs 1 — — 39 — — 78 — 118 — Long-term debt 14,732 319 (c)(j) — — 3,023 (j) (3,552 ) 181 (209 ) 14,494 (j) 242 (c)(j) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 307 $ 5 $ 348 $ (126 ) $ (56 ) $ 92 $ (41 ) $ 529 $ 3 Residential – nonagency 60 1 45 (19 ) (6 ) 58 (62 ) 77 4 Commercial – nonagency 11 2 7 (8 ) (13 ) 30 (16 ) 13 (1 ) Total mortgage-backed securities 378 8 400 (153 ) (75 ) 180 (119 ) 619 6 U.S. Treasury and government agencies 1 — — — — — (1 ) — — Obligations of U.S. states and municipalities 744 (3 ) 107 (70 ) (79 ) — — 699 (3 ) Non-U.S. government debt securities 78 (19 ) 395 (213 ) (2 ) 18 (93 ) 164 (18 ) Corporate debt securities 312 (6 ) 297 (227 ) (15 ) 249 (215 ) 395 (1 ) Loans 2,719 58 1,223 (1,680 ) (528 ) 422 (681 ) 1,533 (22 ) Asset-backed securities 153 15 64 (29 ) (53 ) 18 (92 ) 76 8 Total debt instruments 4,385 53 2,486 (2,372 ) (752 ) 887 (1,201 ) 3,486 (30 ) Equity securities 295 (1 ) 99 (108 ) (1 ) 86 (41 ) 329 11 Other 690 (209 ) 47 (40 ) (75 ) 3 (3 ) 413 (250 ) Total trading assets – debt and equity instruments 5,370 (157 ) (c) 2,632 (2,520 ) (828 ) 976 (1,245 ) 4,228 (269 ) (c) Net derivative receivables: (a) Interest rate 264 576 83 (77 ) (234 ) 40 39 691 498 Credit (35 ) 19 3 (7 ) 22 5 20 27 7 Foreign exchange (396 ) 184 42 (15 ) (46 ) (114 ) 43 (302 ) 42 Equity (3,409 ) 688 1,467 (1,919 ) 1,043 (324 ) 177 (2,277 ) 31 Commodity (674 ) 468 — — (287 ) 7 (39 ) (525 ) 158 Total net derivative receivables (4,250 ) 1,935 (c) 1,595 (2,018 ) 498 (386 ) 240 (2,386 ) 736 (c) Available-for-sale securities: Asset-backed securities 276 1 — — (216 ) — — 61 1 Other 1 — — — — — — 1 — Total available-for-sale securities 277 1 (d) — — (216 ) — — 62 1 (d) Loans 276 (5 ) (c) 123 — (180 ) — (74 ) 140 (5 ) (c) Mortgage servicing rights 6,030 576 (e) 770 (401 ) (542 ) — — 6,433 576 (e) Other assets 1,265 (210 ) (c) 49 (16 ) (28 ) 4 (1 ) 1,063 (217 ) (c) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 4,142 $ (125 ) (c)(i) $ — $ — $ 1,272 $ (425 ) $ 2 $ (426 ) $ 4,440 $ (115 ) (c)(i) Short-term borrowings 1,665 (229 ) (c)(i) — — 2,783 (2,245 ) 61 (64 ) 1,971 26 (c)(i) Trading liabilities – debt and equity instruments 39 28 (c) (68 ) 95 — (1 ) 9 (6 ) 96 11 (c) Accounts payable and other liabilities 13 — (6 ) 1 — — 4 — 12 — Beneficial interests issued by consolidated VIEs 39 — — — — (38 ) — — 1 — Long-term debt 16,125 (396 ) (c)(i) — — 10,382 (6,155 ) 653 (571 ) 20,038 (576 ) (c)(i) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 392 $ (9 ) $ 161 $ (166 ) $ (55 ) $ 37 $ (37 ) $ 323 $ (17 ) Residential – nonagency 83 14 40 (24 ) (21 ) 111 (96 ) 107 2 Commercial – nonagency 17 5 27 (38 ) (5 ) 63 (42 ) 27 1 Total mortgage-backed securities 492 10 228 (228 ) (81 ) 211 (175 ) 457 (14 ) U.S. Treasury and government agencies — — — — — 1 — 1 — Obligations of U.S. states and municipalities 649 15 126 (70 ) (5 ) — — 715 15 Non-U.S. government debt securities 46 3 426 (395 ) — 50 (50 ) 80 — Corporate debt securities 576 — 690 (473 ) (398 ) 128 (162 ) 361 11 Loans 4,837 309 2,055 (2,565 ) (1,186 ) 564 (807 ) 3,207 73 Asset-backed securities 302 27 279 (178 ) (44 ) 50 (165 ) 271 2 Total debt instruments 6,902 364 3,804 (3,909 ) (1,714 ) 1,004 (1,359 ) 5,092 87 Equity securities 231 40 142 (87 ) — 18 (56 ) 288 34 Other 761 85 27 (45 ) (137 ) 10 (10 ) 691 46 Total trading assets – debt and equity instruments 7,894 489 (c) 3,973 (4,041 ) (1,851 ) 1,032 (1,425 ) 6,071 167 (c) Net derivative receivables: (a) Interest rate 1,263 182 53 (76 ) (833 ) 55 20 664 (184 ) Credit 98 (126 ) 1 (4 ) (64 ) 57 2 (36 ) (57 ) Foreign exchange (1,384 ) 86 13 (6 ) 633 (16 ) 135 (539 ) (12 ) Equity (2,252 ) 24 840 (312 ) (660 ) (182 ) 167 (2,375 ) 76 Commodity (85 ) (34 ) — — 22 2 (5 ) (100 ) 27 Total net derivative receivables (2,360 ) 132 (c) 907 (398 ) (902 ) (84 ) 319 (2,386 ) (150 ) (c) Available-for-sale securities: Asset-backed securities 663 14 — (50 ) (141 ) — — 486 12 Other 1 — — — — — — 1 — Total available-for-sale securities 664 14 (d) — (50 ) (141 ) — — 487 12 (d) Loans 570 32 (c) — (26 ) (299 ) — — 277 8 (c) Mortgage servicing rights 6,096 (223 ) (e) 624 (140 ) (619 ) — — 5,738 (224 ) (e) Other assets 2,223 248 (c) 35 (157 ) (478 ) — — 1,871 126 (c) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 2,117 $ 39 (c) $ — $ — $ 2,510 $ (169 ) $ — $ (659 ) $ 3,838 $ 140 (c) Federal funds purchased and securities loaned or sold under repurchase agreements — — — — — — 1 — 1 — Short-term borrowings 1,134 80 (c) — 2,208 (1,873 ) 53 (131 ) 1,471 50 (c) Trading liabilities – debt and equity instruments 43 1 (c) (31 ) 32 — 1 3 (6 ) 43 1 (c) Accounts payable and other liabilities 13 — (1 ) — — (3 ) — — 9 — Beneficial interests issued by consolidated VIEs 48 3 (44 ) 39 — (6 ) 78 — 118 — Long-term debt 12,850 918 (c)(j) — — 9,756 (j) (8,637 ) 269 (662 ) 14,494 (j) 996 (c)(j) (a) All level 3 derivatives are presented on a net basis, irrespective of the underlying counterparty. (b) Level 3 liabilities as a percentage of total Firm liabilities ac |
Fair Value Option
Fair Value Option | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Option | Fair value option For a discussion of the primary financial instruments for which the fair value option was elected, including the basis for those elections and the determination of instrument-specific credit risk, where relevant, refer to Note 3 of JPMorgan Chase’s 2017 Annual Report. Changes in fair value under the fair value option election The following table presents the changes in fair value included in the Consolidated statements of income for the three months ended September 30, 2018 and 2017 , for items for which the fair value option was elected. The profit and loss information presented below only includes the financial instruments that were elected to be measured at fair value; related risk management instruments, which are required to be measured at fair value, are not included in the table. Three months ended September 30, 2018 2017 (in millions) Principal transactions All other income Total changes in fair (e) Principal transactions All other income Total changes in fair value recorded (e) Federal funds sold and securities purchased under resale agreements $ (23 ) $ — $ (23 ) $ (17 ) $ — $ (17 ) Securities borrowed (24 ) — (24 ) (10 ) — (10 ) Trading assets: Debt and equity instruments, excluding loans (45 ) 5 (c) (40 ) 412 — 412 Loans reported as trading assets: Changes in instrument-specific credit risk 122 1 (c) 123 139 (2 ) (c) 137 Other changes in fair value (6 ) 49 (c) 43 111 249 (c) 360 Loans: Changes in instrument-specific credit risk (1 ) — (1 ) — — — Other changes in fair value 1 — 1 3 — 3 Other assets 2 16 (d) 18 3 (4 ) (d) (1 ) Deposits (a) 32 — 32 (117 ) — (117 ) Federal funds purchased and securities loaned or sold under repurchase agreements 8 — 8 2 — 2 Short-term borrowings (a) (25 ) — (25 ) (54 ) — (54 ) Trading liabilities 2 — 2 (3 ) — (3 ) Long-term debt (a)(b) 259 — 259 (793 ) — (793 ) Nine months ended September 30, 2018 2017 (in millions) Principal transactions All other income Total changes in fair value recorded (e) Principal transactions All other income Total changes in fair value recorded (e) Federal funds sold and securities purchased under resale agreements $ (49 ) $ — $ (49 ) $ (50 ) $ — $ (50 ) Securities borrowed (22 ) — (22 ) 80 — 80 Trading assets: — Debt and equity instruments, excluding loans (490 ) 6 (c) (484 ) 1,107 2 (c) 1,109 Loans reported as trading assets: — Changes in instrument-specific credit risk 458 5 (c) 463 382 13 (c) 395 Other changes in fair value 64 24 (c) 88 188 601 (c) 789 Loans: Changes in instrument-specific credit risk (2 ) — (2 ) (1 ) — (1 ) Other changes in fair value (1 ) (1 ) 4 3 (c) 7 Other assets 4 6 (d) 10 10 (26 ) (d) (16 ) Deposits (a) 371 — 371 (362 ) — (362 ) Federal funds purchased and securities loaned or sold under repurchase agreements 27 — 27 4 — 4 Other borrowed funds (a) 86 — 86 (485 ) — (485 ) Trading liabilities 1 — 1 (4 ) — (4 ) Long-term debt (a)(b) 1,486 — 1,486 (1,716 ) — (1,716 ) (a) Unrealized gains/(losses) due to instrument-specific credit risk (DVA) for liabilities for which the fair value option has been elected is recorded in OCI, while realized gains/(losses) are recorded in principal transactions revenue. Realized gains/(losses) due to instrument-specific credit risk recorded in principal transactions revenue were not material for the three and nine months ended September 30, 2018 and 2017 , respectively. (b) Long-term debt measured at fair value predominantly relates to structured notes. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. (c) Reported in mortgage fees and related income. (d) Reported in other income. (e) Changes in fair value exclude contractual interest, which is included in interest income and interest expense for all instruments other than hybrid financial instruments. For further information regarding interest income and interest expense, refer to Note 6 . Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of September 30, 2018 , and December 31, 2017 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. September 30, 2018 December 31, 2017 (in millions) Contractual principal outstanding Fair value Fair value over/(under) contractual principal outstanding Contractual principal outstanding Fair value Fair value over/(under) contractual principal outstanding Loans (a) Nonaccrual loans Loans reported as trading assets $ 4,171 $ 1,189 $ (2,982 ) $ 4,219 $ 1,371 $ (2,848 ) Loans — — — 39 — (39 ) Subtotal 4,171 1,189 (2,982 ) 4,258 1,371 (2,887 ) All other performing loans Loans reported as trading assets 41,986 40,395 (1,591 ) 38,157 36,590 (1,567 ) Loans 3,039 2,987 (52 ) 2,539 2,508 (31 ) Total loans $ 49,196 $ 44,571 $ (4,625 ) $ 44,954 $ 40,469 $ (4,485 ) Long-term debt Principal-protected debt $ 31,858 (c) $ 27,518 $ (4,340 ) $ 26,297 (c) $ 23,848 $ (2,449 ) Nonprincipal-protected debt (b) NA 26,594 NA NA 23,671 NA Total long-term debt NA $ 54,112 NA NA $ 47,519 NA Long-term beneficial interests Nonprincipal-protected debt NA $ 17 NA NA $ 45 NA Total long-term beneficial interests NA $ 17 NA NA $ 45 NA (a) There were no performing loans that were ninety days or more past due as of September 30, 2018 , and December 31, 2017 , respectively. (b) Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. However, investors are exposed to the credit risk of the Firm as issuer for both nonprincipal-protected and principal-protected notes. (c) Where the Firm issues principal-protected zero-coupon or discount notes, the balance reflects the contractual principal payment at maturity or, if applicable, the contractual principal payment at the Firm’s next call date. At September 30, 2018 , and December 31, 2017 , the contractual amount of lending-related commitments for which the fair value option was elected was $9.1 billion and $7.4 billion , respectively, with a corresponding fair value of $(53) million and $(76) million , respectively. For further information regarding off-balance sheet lending-related financial instruments, refer to Note 27 of JPMorgan Chase’s 2017 Annual Report, and Note 20 of this Form 10-Q. Structured note products by balance sheet classification and risk component The following table presents the fair value of the structured notes issued by the Firm, by balance sheet classification and the primary risk type. September 30, 2018 December 31, 2017 (in millions) Long-term debt Short-term borrowings Deposits Total Long-term debt Short-term borrowings Deposits Total Risk exposure Interest rate $ 23,333 $ 616 $ 9,269 $ 33,218 $ 22,056 $ 69 $ 8,058 $ 30,183 Credit 3,771 483 — 4,254 4,329 1,312 — 5,641 Foreign exchange 2,930 96 37 3,063 2,841 147 38 3,026 Equity 21,950 6,258 7,330 35,538 17,581 7,106 6,548 31,235 Commodity 355 7 1,715 2,077 230 15 4,468 4,713 Total structured notes $ 52,339 $ 7,460 $ 18,351 $ 78,150 $ 47,037 $ 8,649 $ 19,112 $ 74,798 |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative instruments JPMorgan Chase makes markets in derivatives for clients and also uses derivatives to hedge or manage its own risk exposures. For a further discussion of the Firm’s use of and accounting policies regarding derivative instruments, refer to Note 5 of JPMorgan Chase’s 2017 Annual Report. The Firm’s disclosures are based on the accounting treatment and purpose of these derivatives. A limited number of the Firm’s derivatives are designated in hedge accounting relationships and are disclosed according to the type of hedge (fair value hedge, cash flow hedge, or net investment hedge). Derivatives not designated in hedge accounting relationships include certain derivatives that are used to manage certain risks associated with specified assets or liabilities (“specified risk management” positions) as well as derivatives used in the Firm’s market-making businesses or for other purposes. Derivatives designated as hedges The adoption of the new hedge accounting guidance in the first quarter of 2018 better aligns hedge accounting with the economics of the Firm’s risk management activities. For additional information on the impact of the new guidance, refer to Note 17 . To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, for a derivative to be designated as a hedge, the risk management objective and strategy must be documented. Hedge documentation must identify the derivative hedging instrument, the asset or liability or forecasted transaction and type of risk to be hedged, and how the effectiveness of the derivative is assessed prospectively and retrospectively. To assess effectiveness, the Firm uses statistical methods such as regression analysis, nonstatistical methods such as dollar-value comparisons of the change in the fair value of the derivative to the change in the fair value or cash flows of the hedged item, and qualitative comparisons of critical terms and the evaluation of any changes in those terms. The extent to which a derivative has been, and is expected to continue to be, highly effective at offsetting changes in the fair value or cash flows of the hedged item must be assessed and documented at least quarterly. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued. For qualifying fair value hedges, changes in the fair value of the derivative, and in the value of the hedged item for the risk being hedged, are recognized in earnings. Certain amounts excluded from the assessment of effectiveness are recorded in OCI and recognized in earnings through an amortization approach over the life of the derivative. If the hedge relationship is terminated, then the adjustment to the hedged item continues to be reported as part of the basis of the hedged item, and for benchmark interest rate hedges, is amortized to earnings as a yield adjustment. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item - primarily net interest income and principal transactions revenue. For qualifying cash flow hedges, changes in the fair value of the derivative are recorded in OCI and recognized in earnings as the hedged item affects earnings. Derivative amounts affecting earnings are recognized consistent with the classification of the hedged item - primarily interest income, interest expense, noninterest revenue and compensation expense. If the hedge relationship is terminated, then the change in value of the derivative recorded in AOCI is recognized in earnings when the cash flows that were hedged affect earnings. For hedge relationships that are discontinued because a forecasted transaction is not expected to occur according to the original hedge forecast, any related derivative values recorded in AOCI are immediately recognized in earnings. For qualifying net investment hedges, changes in the fair value of the derivatives due to changes in spot foreign exchange rates are recorded in OCI as translation adjustments. Amounts excluded from the assessment of effectiveness are recorded directly in earnings. The following table outlines the Firm’s primary uses of derivatives and the related hedge accounting designation or disclosure category. Type of Derivative Use of Derivative Designation and disclosure Affected segment or unit 10-Q page reference Manage specifically identified risk exposures in qualifying hedge accounting relationships: • Interest rate Hedge fixed rate assets and liabilities Fair value hedge Corporate 118-119 • Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 120 • Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 118-119 • Foreign exchange Hedge foreign currency-denominated forecasted revenue and expense Cash flow hedge Corporate 120 • Foreign exchange Hedge the value of the Firm’s investments in non-U.S. dollar functional currency entities Net investment hedge Corporate 121 • Commodity Hedge commodity inventory Fair value hedge CIB 118-119 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: • Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 121 • Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 121 • Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 121 Market-making derivatives and other activities: • Various Market-making and related risk management Market-making and other CIB 121 • Various Other derivatives Market-making and other CIB, Corporate 121 Notional amount of derivative contracts The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2018 , and December 31, 2017 . Notional amounts (b) (in billions) September 30, 2018 December 31, 2017 Interest rate contracts Swaps $ 25,236 $ 21,043 Futures and forwards 7,326 4,904 Written options 4,718 3,576 Purchased options 5,233 3,987 Total interest rate contracts 42,513 33,510 Credit derivatives (a) 1,603 1,522 Foreign exchange contracts Cross-currency swaps 3,893 3,953 Spot, futures and forwards 6,812 5,923 Written options 961 786 Purchased options 956 776 Total foreign exchange contracts 12,622 11,438 Equity contracts Swaps 402 367 Futures and forwards 106 90 Written options 596 531 Purchased options 543 453 Total equity contracts 1,647 1,441 Commodity contracts Swaps 140 116 Spot, futures and forwards 164 168 Written options 157 98 Purchased options 134 93 Total commodity contracts 595 475 Total derivative notional amounts $ 58,980 $ 48,386 (a) For more information on volumes and types of credit derivative contracts, refer to the Credit derivatives discussion on page 122 . (b) Represents the sum of gross long and gross short third-party notional derivative contracts. While the notional amounts disclosed above give an indication of the volume of the Firm’s derivatives activity, the notional amounts significantly exceed, in the Firm’s view, the possible losses that could arise from such transactions. For most derivative transactions, the notional amount is not exchanged; it is used simply as a reference to calculate payments. The following table summarizes information on derivative receivables and payables (before and after netting adjustments) that are reflected on the Firm’s Consolidated balance sheets as of September 30, 2018 , and December 31, 2017 , by accounting designation (e.g., whether the derivatives were designated in qualifying hedge accounting relationships or not) and contract type. Free-standing derivative receivables and payables (a) Gross derivative receivables Gross derivative payables September 30, 2018 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated as hedges Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 260,636 $ 823 $ 261,459 $ 23,397 $ 234,232 $ 1 $ 234,233 $ 7,091 Credit 23,505 — 23,505 582 23,360 — 23,360 1,452 Foreign exchange 188,261 623 188,884 17,043 176,771 848 177,619 12,402 Equity 46,932 — 46,932 10,104 51,355 — 51,355 11,978 Commodity 22,175 193 22,368 8,936 22,749 90 22,839 8,770 Total fair value of trading assets and liabilities $ 541,509 $ 1,639 $ 543,148 $ 60,062 $ 508,467 $ 939 $ 509,406 $ 41,693 Gross derivative receivables Gross derivative payables December 31, 2017 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 314,962 (c) $ 1,030 (c) $ 315,992 $ 24,673 $ 284,433 (c) $ 3 (c) $ 284,436 $ 7,129 Credit 23,205 — 23,205 869 23,252 — 23,252 1,299 Foreign exchange 159,740 491 160,231 16,151 154,601 1,221 155,822 12,473 Equity 40,040 — 40,040 7,882 45,395 — 45,395 9,192 Commodity 20,066 19 20,085 6,948 21,498 403 21,901 7,684 Total fair value of trading assets and liabilities $ 558,013 (c) $ 1,540 (c) $ 559,553 $ 56,523 $ 529,179 (c) $ 1,627 (c) $ 530,806 $ 37,777 (a) Balances exclude structured notes for which the fair value option has been elected. Refer to Note 3 for further information. (b) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral receivables and payables when a legally enforceable master netting agreement exists. (c) Derivatives netting The following tables present, as of September 30, 2018 , and December 31, 2017 , gross and net derivative receivables and payables by contract and settlement type. Derivative receivables and payables, as well as the related cash collateral from the same counterparty have been netted on the Consolidated balance sheets where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the Consolidated balance sheets, and those derivative receivables and payables are shown separately in the tables below. In addition to the cash collateral received and transferred that is presented on a net basis with derivative receivables and payables, the Firm receives and transfers additional collateral (financial instruments and cash). These amounts mitigate counterparty credit risk associated with the Firm’s derivative instruments, but are not eligible for net presentation: • collateral that consists of non-cash financial instruments (generally U.S. government and agency securities and other G7 government securities) and cash collateral held at third party custodians, which are shown separately as “Collateral not nettable on the Consolidated balance sheets” in the tables below, up to the fair value exposure amount. • the amount of collateral held or transferred that exceeds the fair value exposure at the individual counterparty level, as of the date presented, which is excluded from the tables below; and • collateral held or transferred that relates to derivative receivables or payables where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement, which is excluded from the tables below. September 30, 2018 December 31, 2017 (in millions) Gross derivative receivables Amounts netted on the Consolidated balance sheets Net derivative receivables Gross derivative receivables Amounts netted on the Consolidated balance sheets Net derivative receivables U.S. GAAP nettable derivative receivables Interest rate contracts: Over-the-counter (“OTC”) $ 250,181 $ (230,533 ) $ 19,648 $ 305,569 $ (284,917 ) $ 20,652 OTC–cleared 7,512 (7,374 ) 138 6,531 (6,318 ) 213 Exchange-traded (a) 300 (155 ) 145 185 (84 ) 101 Total interest rate contracts 257,993 (238,062 ) 19,931 312,285 (291,319 ) 20,966 Credit contracts: OTC 12,502 (12,153 ) 349 15,390 (15,165 ) 225 OTC–cleared 10,806 (10,770 ) 36 7,225 (7,170 ) 55 Total credit contracts 23,308 (22,923 ) 385 22,615 (22,335 ) 280 Foreign exchange contracts: OTC 184,421 (171,163 ) 13,258 155,289 (142,420 ) 12,869 OTC–cleared 676 (659 ) 17 1,696 (1,654 ) 42 Exchange-traded (a) 42 (19 ) 23 141 (7 ) 134 Total foreign exchange contracts 185,139 (171,841 ) 13,298 157,126 (144,081 ) 13,045 Equity contracts: OTC 25,197 (22,380 ) 2,817 22,024 (19,917 ) 2,107 Exchange-traded (a) 16,789 (14,448 ) 2,341 14,188 (12,241 ) 1,947 Total equity contracts 41,986 (36,828 ) 5,158 36,212 (32,158 ) 4,054 Commodity contracts: OTC 12,497 (4,916 ) 7,581 10,903 (4,436 ) 6,467 Exchange-traded (a) 9,198 (8,516 ) 682 8,854 (8,701 ) 153 Total commodity contracts 21,695 (13,432 ) 8,263 19,757 (13,137 ) 6,620 Derivative receivables with appropriate legal opinion 530,121 (483,086 ) (b) 47,035 547,995 (503,030 ) (b) 44,965 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 13,027 13,027 11,558 11,558 Total derivative receivables recognized on the Consolidated balance sheets $ 543,148 $ 60,062 $ 559,553 $ 56,523 Collateral not nettable on the Consolidated balance sheets (c)(d) (13,826 ) (13,363 ) Net amounts $ 46,236 $ 43,160 September 30, 2018 December 31, 2017 (in millions) Gross derivative payables Amounts netted on the Consolidated balance sheets Net derivative payables Gross derivative payables Amounts netted on the Consolidated balance sheets Net derivative payables U.S. GAAP nettable derivative payables Interest rate contracts: OTC $ 225,999 $ (220,369 ) $ 5,630 $ 276,960 $ (271,294 ) $ 5,666 OTC–cleared 6,650 (6,618 ) 32 6,004 (5,928 ) 76 Exchange-traded (a) 172 (155 ) 17 127 (84 ) 43 Total interest rate contracts 232,821 (227,142 ) 5,679 283,091 (277,306 ) 5,785 Credit contracts: OTC 13,133 (11,852 ) 1,281 16,194 (15,170 ) 1,024 OTC–cleared 10,062 (10,056 ) 6 6,801 (6,784 ) 17 Total credit contracts 23,195 (21,908 ) 1,287 22,995 (21,954 ) 1,041 Foreign exchange contracts: OTC 173,389 (164,557 ) 8,832 150,966 (141,789 ) 9,177 OTC–cleared 679 (654 ) 25 1,555 (1,553 ) 2 Exchange-traded (a) 25 (6 ) 19 98 (7 ) 91 Total foreign exchange contracts 174,093 (165,217 ) 8,876 152,619 (143,349 ) 9,270 Equity contracts: OTC 28,618 (24,869 ) 3,749 28,193 (23,969 ) 4,224 Exchange-traded (a) 16,234 (14,508 ) 1,726 12,720 (12,234 ) 486 Total equity contracts 44,852 (39,377 ) 5,475 40,913 (36,203 ) 4,710 Commodity contracts: OTC 13,607 (5,600 ) 8,007 12,645 (5,508 ) 7,137 Exchange-traded (a) 8,558 (8,469 ) 89 8,870 (8,709 ) 161 Total commodity contracts 22,165 (14,069 ) 8,096 21,515 (14,217 ) 7,298 Derivative payables with appropriate legal opinion 497,126 (467,713 ) (b) 29,413 521,133 (493,029 ) (b) 28,104 Derivative payables where an appropriate legal opinion has not been either sought or obtained 12,280 12,280 9,673 9,673 Total derivative payables recognized on the Consolidated balance sheets $ 509,406 $ 41,693 $ 530,806 $ 37,777 Collateral not nettable on the Consolidated balance sheets (c)(d) (3,566 ) (4,180 ) Net amounts $ 38,127 $ 33,597 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Net derivatives receivable included cash collateral netted of $55.5 billion at both September 30, 2018 , and December 31, 2017 , respectively. Net derivatives payable included cash collateral netted of $40.1 billion and $45.5 billion related to OTC and OTC-cleared derivatives at September 30, 2018 , and December 31, 2017 , respectively. (c) Represents liquid security collateral as well as cash collateral held at third party custodians related to derivative instruments where an appropriate legal opinion has been obtained. For some counterparties, the collateral amounts of financial instruments may exceed the derivative receivables and derivative payables balances. Where this is the case, the total amount reported is limited to the net derivative receivables and net derivative payables balances with that counterparty. (d) Liquidity risk and credit-related contingent features For a more detailed discussion of liquidity risk and credit-related contingent features related to the Firm’s derivative contracts, refer to Note 5 of JPMorgan Chase’s 2017 Annual Report. The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at September 30, 2018 , and December 31, 2017 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2018 December 31, 2017 Aggregate fair value of net derivative payables $ 10,103 $ 11,916 Collateral posted 8,926 9,973 The following table shows the impact of a single-notch and two-notch downgrade of the long-term issuer ratings of JPMorgan Chase & Co. and its subsidiaries , predominantly JPMorgan Chase Bank, National Association (“JPMorgan Chase Bank, N.A.”), at September 30, 2018 , and December 31, 2017 , related to OTC and OTC-cleared derivative contracts with contingent collateral or termination features that may be triggered upon a ratings downgrade. Derivatives contracts generally require additional collateral to be posted or terminations to be triggered when the predefined threshold rating is breached. A downgrade by a single rating agency that does not result in a rating lower than a preexisting corresponding rating provided by another major rating agency will generally not result in additional collateral, (except in certain instances in which additional initial margin may be required upon a ratings downgrade), nor in termination payments requirements. The liquidity impact in the table is calculated based upon a downgrade below the lowest current rating of the rating agencies referred to in the derivative contract. Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives September 30, 2018 December 31, 2017 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 116 $ 2,046 $ 79 $ 1,989 Amount required to settle contracts with termination triggers upon downgrade (b) 317 861 320 650 (a) Includes the additional collateral to be posted for initial margin. (b) Amounts represent fair values of derivative payables, and do not reflect collateral posted. Derivatives executed in contemplation of a sale of the underlying financial asset In certain instances the Firm enters into transactions in which it transfers financial assets but maintains the economic exposure to the transferred assets by entering into a derivative with the same counterparty in contemplation of the initial transfer. The Firm generally accounts for such transfers as collateralized financing transactions as described in Note 10 , but in limited circumstances they may qualify to be accounted for as a sale and a derivative under U.S. GAAP. The amount of such transfers accounted for as a sale where the associated derivative was outstanding at September 30, 2018 was not material, and there were no such transfers at December 31, 2017 The following tables provide information related to gains and losses recorded on derivatives based on their hedge accounting designation or purpose. Fair value hedge gains and losses The following tables present derivative instruments, by contract type, used in fair value hedge accounting relationships, as well as pre-tax gains/(losses) recorded on such derivatives and the related hedged items for the three and nine months ended September 30, 2018 and 2017 , respectively. The Firm includes gains/(losses) on the hedging derivative in the same line item in the Consolidated statements of income as the related hedged item. Gains/(losses) recorded in income Income statement impact of (f) OCI impact Three months ended September 30, 2018 Derivatives Hedged items Income statement impact Amortization approach Changes in fair value Derivatives - Gains/(losses) recorded in OCI (g) Contract type Interest rate (a)(b) $ (870 ) $ 1,032 $ 162 $ — $ 160 $ — Foreign exchange (c) 277 (165 ) 112 (137 ) 112 45 Commodity (d) 454 (461 ) (7 ) — (5 ) — Total $ (139 ) $ 406 $ 267 $ (137 ) $ 267 $ 45 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2017 Derivatives Hedged items Income statement impact Hedge ineffectiveness (e) Excluded components (f) Contract type Interest rate (a)(b) $ 22 $ 182 $ 204 $ (2 ) $ 206 Foreign exchange (c) (982 ) 1,002 20 — 20 Commodity (d) (457 ) 461 4 4 — Total $ (1,417 ) $ 1,645 $ 228 $ 2 $ 226 Gains/(losses) recorded in income Income statement impact of (f) OCI impact Nine months ended September 30, 2018 Derivatives Hedged items Income statement impact Amortization approach Changes in fair value Derivatives - Gains/(losses) recorded in OCI (g) Contract type Interest rate (a)(b) $ (2,747 ) $ 3,214 $ 467 $ — $ 459 $ — Foreign exchange (c) 797 (452 ) 345 (404 ) 345 (96 ) Commodity (d) 649 (626 ) 23 — 29 — Total $ (1,301 ) $ 2,136 $ 835 $ (404 ) $ 833 $ (96 ) Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2017 Derivatives Hedged items Income statement impact Hedge ineffectiveness (e) Excluded components (f) Contract type Interest rate (a)(b) $ (131 ) $ 759 $ 628 $ (16 ) $ 644 Foreign exchange (c) (3,254 ) 3,235 (19 ) — (19 ) Commodity (d) (823 ) 861 38 23 15 Total $ (4,208 ) $ 4,855 $ 647 $ 7 $ 640 (a) Primarily consists of hedges of the benchmark (e.g., London Interbank Offered Rate (“LIBOR”)) interest rate risk of fixed-rate long-term debt and AFS securities. Gains and losses were recorded in net interest income. (b) Excludes the amortization expense associated with the inception hedge accounting adjustment applied to the hedged item. This expense is recorded in net interest income and substantially offsets the income statement impact of the excluded components. Also excludes the accrual of interest on interest rate swaps and the related hedged items. (c) Primarily consists of hedges of the foreign currency risk of long-term debt and AFS securities for changes in spot foreign currency rates. Gains and losses related to the derivatives and the hedged items due to changes in foreign currency rates and the income statement impact of excluded components were recorded primarily in principal transactions revenue and net interest income. (d) Consists of overall fair value hedges of physical commodities inventories that are generally carried at the lower of cost or net realizable value (net realizable value approximates fair value). Gains and losses were recorded in principal transactions revenue. (e) Hedge ineffectiveness is the amount by which the gain or loss on the designated derivative instrument does not exactly offset the gain or loss on the hedged item attributable to the hedged risk. (f) The assessment of hedge effectiveness excludes certain components of the changes in fair values of the derivatives and hedged items such as forward points on foreign exchange forward contracts, time values and cross-currency basis spreads. Under the new hedge accounting guidance, the initial amount of the excluded components may be amortized into income over the life of the derivative, or changes in fair value may be recognized in current period earnings. (g) Represents the change in value of amounts excluded from the assessment of effectiveness under the amortization approach, predominantly cross-currency basis spreads. The amount excluded at inception of the hedge is recognized in earnings over the life of the derivative. As of September 30, 2018 , the following amounts were recorded on the Consolidated balance sheets related to certain cumulative fair value hedge basis adjustments that are expected to reverse through the income statement in future periods as an adjustment to yield. Carrying amount of the hedged items (a)(b) Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged items: September 30, 2018 Active hedging relationships Discontinued hedging relationships (d) Total Assets Investment securities - AFS $ 47,896 (c) $ (2,292 ) $ 438 $ (1,854 ) Liabilities Long-term debt $ 135,239 $ (2,693 ) $ (5 ) $ (2,698 ) Beneficial interests issued by consolidated VIEs 6,976 — (42 ) (42 ) (a) Excludes physical commodities with a carrying value of $4.6 billion to which the Firm applies fair value hedge accounting. As a result of the application of hedge accounting, these inventories are carried at fair value, thus recognizing unrealized gains and losses in current periods. Given the Firm exits these positions at fair value, there is no incremental impact to net income in future periods. (b) Excludes hedged items where only foreign currency risk is the designated hedged risk, as basis adjustments related to foreign currency hedges will not reverse through the income statement in future periods. The carrying amount excluded for available-for-sale securities is $14.7 billion and for long-term debt is $7.2 billion . (c) Carrying amount represents the amortized cost. (d) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date. Cash flow hedge gains and losses The following tables present derivative instruments, by contract type, used in cash flow hedge accounting relationships, and the pre-tax gains/(losses) recorded on such derivatives, for the three and nine months ended September 30, 2018 and 2017 , respectively. The Firm includes the gain/(loss) on the hedging derivative in the same line item in the Consolidated statements of income as the change in cash flows on the related hedged item . Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2018 Amounts reclassified from AOCI to income Amounts recorded in OCI Total change Contract type Interest rate (a) $ 10 $ (30 ) $ (40 ) Foreign exchange (b) (19 ) (92 ) (73 ) Total $ (9 ) $ (122 ) $ (113 ) Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2017 Amounts reclassified from AOCI to income Amounts recorded in OCI (c) Total change Contract type Interest rate (a) $ 1 $ (1 ) $ (2 ) Foreign exchange (b) (11 ) 30 41 Total $ (10 ) $ 29 $ 39 Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2018 Amounts reclassified from AOCI to income Amounts recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ 36 $ (141 ) $ (177 ) Foreign exchange (b) 26 (224 ) (250 ) Total $ 62 $ (365 ) $ (427 ) Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2017 Amounts reclassified from AOCI to income Amounts recorded in OCI (c) Total change Contract type Interest rate (a) $ (16 ) $ 11 $ 27 Foreign exchange (b) (144 ) 100 244 Total $ (160 ) $ 111 $ 271 (a) Primarily consists of benchmark interest rate hedges of LIBOR-indexed floating-rate assets and floating-rate liabilities. Gains and losses were recorded in net interest income. (b) Primarily consists of hedges of the foreign currency risk of non-U.S. dollar-denominated revenue and expense. The income statement classification of gains and losses follows the hedged item – primarily noninterest revenue and compensation expense. (c) Represents the effective portion of changes in value of the related hedging derivative. Hedge ineffectiveness is the amount by which the cumulative gain or loss on the designated derivative instrument exceeds the present value of the cumulative expected change in cash flows on the hedged item attributable to the hedged risk. The Firm did not recognize any ineffectiveness on cash flow hedges during the three and nine months ended September 30, 2017. The Firm did not experience any forecasted transactions that failed to occur for the three and nine months ended September 30, 2018 and 2017 . Over the next 12 months, the Firm expects that approximately $(118) million (after-tax) of net losses recorded in AOCI at September 30, 2018 , related to cash flow hedges will be recognized in income. For terminated cash flow hedges, the maximum length of time over which forecasted transactions are remaining is approximately six years . For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately six years . The Firm’s longer-dated forecasted transactions relate to core lending and borrowing activities. Net investment hedge gains and losses The following table presents hedging instruments, by contract type, that were used in net investment hedge accounting relationships, and the pre-tax gains/(losses) recorded on such instruments for the three and nine months ended September 30, 2018 and 2017 . 2018 2017 Three months ended September 30, Amounts recorded in income (a)(c) Amounts recorded in OCI Amounts recorded in income (a)(c) Amounts recorded in OCI (b) Foreign exchange derivatives $ 2 $ 311 $ (39 ) $ (286 ) 2018 2017 Nine months ended September 30, Amounts recorded in income (a)(c) Amounts recorded in OCI Amounts recorded in income (a)(c) Amounts recorded in OCI (b) Foreign exchange derivatives $ (5 ) $ 1,126 $ (150 ) $ (1,161 ) (a) Certain components of hedging derivatives are permitted to be excluded from the assessment of hedge effectiveness, such as forward points on foreign exchange forward contracts. The Firm elects to record changes in fair value of these amounts directly in other income. (b) Represents the effective portion of changes in value of the related hedging derivative. The Firm did not recognize any ineffectiveness on net investment hedges directly in income during the three and nine months ended September 30, 2017 . (c) The following table presents pre-tax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, and foreign currency-denominated assets and liabilities. Derivatives gains/(losses) recorded in income Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Contract type Interest rate (a) $ (42 ) $ 97 $ (277 ) $ 318 Credit (b) (7 ) (18 ) (17 ) (70 ) Foreign exchange (c) 52 (18 ) 152 (52 ) Total $ 3 $ 61 $ (142 ) $ 196 (a) Primarily represents interest rate derivatives used to hedge the interest rate risk inherent in the mortgage pipeline, warehouse loans and MSRs, as well as written commitments to originate warehouse loans. Gains and losses were recorded predominantly in mortgage fees and related income. (b) Relates to credit derivatives used to mitigate credit risk associated with lending exposures in the Firm’s wholesale businesses. These derivatives do not include credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, which is included in gains and losses on derivatives related to market-making activities and other derivatives. Gains and losses were recorded in principal transactions revenue. (c) Primarily relates to derivatives used to mitigate foreign exchange risk of specified foreign currency-denominated assets and liabilities. Gains and losses were recorded in principal transactions revenue. Gains and losses on derivatives related to market-making activities and other derivatives The Firm makes markets in derivatives in order to meet the needs of customers and uses derivatives to manage certain risks associated with net open risk positions from its market-making activities, including the counterparty credit risk arising from derivative receivables. All derivatives not included in the hedge accounting or specified risk management categories above are included in this category. Gains and losses on these derivatives are primarily recorded in principal transactions revenue. Refer to Note 5 for information on principal transactions revenue. For a more detailed discussion of credit derivatives, refer to Note 5 of JPMorgan Chase’s 2017 Annual Report. The Firm does not use notional amounts of credit deriv |
Noninterest Revenue and Noninte
Noninterest Revenue and Noninterest Expense | 9 Months Ended |
Sep. 30, 2018 | |
Noninterest Income (Expense) [Abstract] | |
Noninterest Revenue and Noninterest Expense | Noninterest revenue and noninterest expense Noninterest revenue For a discussion of the components of and accounting policies for the Firm’s noninterest revenue, refer to Note 6 of JPMorgan Chase ’s 2017 Annual Report . The adoption of the revenue recognition guidance in the first quarter of 2018, required gross presentation of certain costs previously offset against revenue, predominantly associated with certain distribution costs (previously offset against asset management, administration and commissions), with the remainder associated with certain underwriting costs (previously offset against investment banking fees). Adoption of the guidance did not result in any material changes in the timing of revenue recognition. This guidance was adopted retrospectively and, accordingly, prior period amounts were revised, which resulted in an increase in both noninterest revenue and noninterest expense. For additional information, refer to Note 1 . Investment banking fees The following table presents the components of investment banking fees. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Underwriting Equity $ 417 $ 302 $ 1,342 $ 1,105 Debt 836 945 2,596 2,873 Total underwriting 1,253 1,247 3,938 3,978 Advisory 579 621 1,798 1,616 Total investment banking fees $ 1,832 $ 1,868 $ 5,736 $ 5,594 Principal transactions The following table presents all realized and unrealized gains and losses recorded in principal transactions revenue. This table excludes interest income and interest expense on trading assets and liabilities, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. Refer to Note 6 for further information on interest income and interest expense. Trading revenue is presented primarily by instrument type. The Firm’s client-driven market-making businesses generally utilize a variety of instrument types in connection with their market-making and related risk-management activities; accordingly, the trading revenue presented in the table below is not representative of the total revenue of any individual line of busi ness. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Trading revenue by instrument type Interest rate $ 338 $ 649 $ 1,784 $ 2,032 Credit 202 330 1,230 1,288 Foreign exchange 937 681 2,706 2,363 Equity 1,363 915 4,376 3,153 Commodity 277 156 800 461 Total trading revenue 3,117 2,731 10,896 9,297 Private equity gains/(losses) (a) (153 ) (10 ) (198 ) 143 Principal transactions $ 2,964 $ 2,721 $ 10,698 $ 9,440 (a) The third quarter of 2018 included markdowns of approximately $220 million on certain private equity investments in Corporate, with $170 million recorded within principal transactions revenue and $50 million in other income. Lending- and deposit-related fees The following table presents the components of lending- and deposit-related fees. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Lending-related fees $ 284 $ 280 $ 838 $ 824 Deposit-related fees 1,258 1,217 3,676 3,603 Total lending- and deposit-related fees $ 1,542 $ 1,497 $ 4,514 $ 4,427 Asset management, administration and commissions The following table presents the components of Firmwide asset management, administration and commissions. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Asset management fees Investment management fees (a) $ 2,716 $ 2,636 $ 8,081 $ 7,603 All other asset management fees (b) 79 63 211 226 Total asset management fees 2,795 2,699 8,292 7,829 Total administration fees (c) 533 514 1,651 1,500 Commission and other fees Brokerage commissions 604 546 1,887 1,691 All other commissions and fees 378 313 1,093 976 Total commissions and fees 982 859 2,980 2,667 Total asset management, administration and commissions $ 4,310 $ 4,072 $ 12,923 $ 11,996 (a) Represents fees earned from managing assets on behalf of the Firm’s clients, including investors in Firm-sponsored funds and owners of separately managed investment accounts. (b) Represents fees for services that are ancillary to investment management services, such as commissions earned on the sales or distribution of mutual funds to clients. (c) Predominantly includes fees for custody, securities lending, funds services and securities clearance. Card income The following table presents the components of card income: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Interchange and merchant processing income $ 4,781 $ 4,342 $ 13,863 $ 12,557 Rewards costs and partner payments (3,276 ) (2,727 ) (9,687 ) (b) (7,941 ) Other card income (a) (177 ) (373 ) (553 ) (1,293 ) Total card income $ 1,328 $ 1,242 $ 3,623 $ 3,323 (a) Predominantly represents annual fees and new account origination costs, which are deferred and recognized on a straight-line basis over a 12 -month period. (b) Includes an adjustment to the credit card rewards liability of approximately $330 million , recorded in the second quarter of 2018. Other income Other income on the Firm’s Consolidated statements of income included the following: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Operating lease income $ 1,157 $ 928 $ 3,316 $ 2,625 Noninterest expense Other expense Other expense on the Firm’s Consolidated statements of income included the following: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Legal expense $ 20 $ (107 ) $ 90 $ 172 FDIC-related expense 349 353 1,100 1,110 |
Interest Income and Interest Ex
Interest Income and Interest Expense | 9 Months Ended |
Sep. 30, 2018 | |
Interest Income (Expense), Net [Abstract] | |
Interest Income and Interest Expense | Interest income and Interest expense For a description of JPMorgan Chase’s accounting policies regarding interest income and interest expense, refer to Note 7 of JPMorgan Chase ’s 2017 Annual Report . The following table presents the components of interest income and interest expense. Three months ended Nine months ended (in millions) 2018 2017 2018 2017 Interest income Loans (a) $ 12,207 $ 10,519 $ 34,915 $ 30,265 Taxable securities 1,402 1,362 4,098 4,202 Non-taxable securities (b) 394 456 1,199 1,393 Total investment securities (a) 1,796 1,818 5,297 5,595 Trading assets 2,155 1,947 6,369 5,611 Federal funds sold and securities purchased under resale agreements 952 622 2,490 1,676 Securities borrowed (c) 200 — 410 (65 ) Deposits with banks 1,585 1,259 4,449 3,002 All other interest-earning assets (d) 945 522 2,474 1,295 Total interest income 19,840 16,687 56,404 47,379 Interest expense Interest-bearing deposits 1,621 837 4,021 1,949 Federal funds purchased and securities loaned or sold under repurchase agreements 827 451 2,164 1,131 Short-term borrowings (e) 288 149 757 318 Trading liabilities – debt and all other interest-bearing liabilities (f) 1,018 570 2,579 1,490 Long-term debt 2,056 1,759 5,812 5,035 Beneficial interest issued by consolidated VIEs 122 123 366 386 Total interest expense 5,932 3,889 15,699 10,309 Net interest income 13,908 12,798 40,705 37,070 Provision for credit losses 948 1,452 3,323 3,982 Net interest income after provision for credit losses $ 12,960 $ 11,346 $ 37,382 $ 33,088 (a) Includes the amortization/accretion of unearned income (e.g., purchase premiums/discounts, net deferred fees/costs, etc.). (b) Represents securities which are tax-exempt for U.S. federal income tax purposes. (c) Negative interest income is related to client-driven demand for certain securities combined with the impact of low interest rates. This is matched book activity and the negative interest expense on the corresponding securities loaned is recognized in interest expense. (d) Includes held-for-investment margin loans, which are classified in accrued interest and accounts receivable, and all other interest-earning assets included in other assets on the Consolidated balance sheets. (e) Includes commercial paper. (f) |
Pension and Other Postretiremen
Pension and Other Postretirement Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Pension and Other Postretirement Employee Benefit Plans | Pension and other postretirement employee benefit plans For a discussion of JPMorgan Chase ’s pension and OPEB plans, refer to Note 8 of JPMorgan Chase (in millions) Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit pension plans OPEB plans Defined benefit pension plans OPEB plans Components of net periodic benefit cost Benefits earned during the period $ 88 $ 83 $ — $ — $ 267 $ 247 $ — $ — Interest cost on benefit obligations 139 148 6 7 417 447 18 21 Expected return on plan assets (246 ) (242 ) (25 ) (24 ) (741 ) (725 ) (77 ) (72 ) Amortization: Net (gain)/loss 26 63 — — 78 187 — — Prior service cost/(credit) (7 ) (9 ) — — (19 ) (27 ) — — Settlement — — — — — (3 ) — — Net periodic defined benefit cost (a) — 43 (19 ) (17 ) 2 126 (59 ) (51 ) Other defined benefit pension plans (b) 6 6 NA NA 21 16 NA NA Total defined benefit plans 6 49 (19 ) (17 ) 23 142 (59 ) (51 ) Total defined contribution plans 229 221 NA NA 661 617 NA NA Total pension and OPEB cost included in noninterest expense $ 235 $ 270 $ (19 ) $ (17 ) $ 684 $ 759 $ (59 ) $ (51 ) (a) Effective January 1, 2018, benefits earned during the period are reported in compensation expense; all other components of net periodic defined benefit costs are reported within other expense in the Consolidated statements of income. (b) Includes various defined benefit pension plans which are individually immaterial. The following table presents the fair values of plan assets for the U.S. defined benefit pension and OPEB plans and for the material non-U.S. defined benefit pension plans. (in billions) September 30, December 31, 2017 Fair value of plan assets Defined benefit pension plans $ 19.2 $ 19.6 OPEB plans 2.8 2.8 There are no expected contributions to the U.S. defined benefit pension plan for 2018. |
Employee Share-based Incentives
Employee Share-based Incentives | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Share-based Incentives | Employee share-based incentives For a discussion of the accounting policies and other information relating to employee share-based incentives, refer to Note 9 of JPMorgan Chase ’s 2017 Annual Report . The Firm recognized the following noncash compensation expense related to its various employee share-based incentive plans in its Consolidated statements of income. Three months ended Nine months ended (in millions) 2018 2017 2018 2017 Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods $ 282 $ 267 $ 956 $ 867 Accrual of estimated costs of share-based awards to be granted in future periods including those to full-career eligible employees 240 224 852 750 Total noncash compensation expense related to employee share-based incentive plans $ 522 $ 491 $ 1,808 $ 1,617 In the first quarter of 2018, in connection with its annual incentive grant for the 2017 performance year, the Firm granted 17 million RSUs and 516 thousand PSUs with weighted-average grant date fair values of $111.17 per RSU and $110.46 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment securities Investment securities consist of debt securities that are classified as AFS or HTM. Debt securities classified as trading assets are discussed in Note 2 . Predominantly all of the Firm’s AFS and HTM securities are held by Treasury and CIO in connection with its asset-liability management activities. At September 30, 2018 , the investment securities portfolio consisted of debt securities with an average credit rating of AA+ (based upon external ratings where available, and where not available, based primarily upon internal ratings which correspond to ratings as defined by S&P and Moody’s). For additional information regarding the investment securities portfolio, refer to Note 10 of JPMorgan Chase’s 2017 Annual Report. As a result of the adoption of the premium amortization accounting guidance in the first quarter of 2018, premiums on purchased callable debt securities must be amortized to the earliest call date for debt securities with call features that are explicit, noncontingent and callable at fixed prices and on preset dates. The guidance primarily impacts obligations of U.S. states and municipalities held in the Firm’s investment securities portfolio. For additional information, refer to Note 17 . As permitted by the new hedge accounting guidance, the Firm also elected to transfer U.S. government agency MBS, commercial MBS, and obligations of U.S. states and municipalities with a carrying value of $22.4 billion from HTM to AFS in the first quarter of 2018. This transfer was a non-cash transaction. For additional information, refer to Note 17 . The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. September 30, 2018 December 31, 2017 (in millions) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale securities Mortgage-backed securities: U.S. government agencies (a) $ 64,229 $ 389 $ 1,508 $ 63,110 $ 69,879 $ 736 $ 335 $ 70,280 Residential: U.S. 6,396 127 36 6,487 8,193 185 14 8,364 Non-U.S. 2,639 94 3 2,730 2,882 122 1 3,003 Commercial 7,151 79 182 7,048 4,932 98 5 5,025 Total mortgage-backed securities 80,415 689 1,729 79,375 85,886 1,141 355 86,672 U.S. Treasury and government agencies 27,526 486 196 27,816 22,510 266 31 22,745 Obligations of U.S. states and municipalities 36,659 1,580 118 38,121 30,490 1,881 33 32,338 Certificates of deposit 75 — — 75 59 — — 59 Non-U.S. government debt securities 24,398 321 45 24,674 26,900 426 32 27,294 Corporate debt securities 1,993 64 1 2,056 2,657 101 1 2,757 Asset-backed securities: Collateralized loan obligations 20,139 12 42 20,109 20,928 69 1 20,996 Other 7,761 70 27 7,804 8,764 77 24 8,817 Total available-for-sale debt securities 198,966 3,222 2,158 200,030 198,194 3,961 477 201,678 Available-for-sale equity securities (b) — — — — 547 — — 547 Total available-for-sale securities 198,966 3,222 2,158 200,030 198,741 3,961 477 202,225 Held-to-maturity securities Mortgage-backed securities: U.S. government agencies (c) 26,537 5 493 26,049 27,577 558 40 28,095 Commercial — — — — 5,783 1 74 5,710 Total mortgage-backed securities 26,537 5 493 26,049 33,360 559 114 33,805 Obligations of U.S. states and municipalities 4,831 69 31 4,869 14,373 554 80 14,847 Total held-to-maturity securities 31,368 74 524 30,918 47,733 1,113 194 48,652 Total investment securities $ 230,334 $ 3,296 $ 2,682 $ 230,948 $ 246,474 $ 5,074 $ 671 $ 250,877 (a) Includes total U.S. government-sponsored enterprise obligations with fair values of $44.2 billion and $45.8 billion at September 30, 2018 , and December 31, 2017 , respectively. (b) Effective January 1, 2018, the Firm adopted the recognition and measurement guidance. Equity securities that were previously reported as AFS securities were reclassified to other assets upon adoption. (c) Included total U.S. government-sponsored enterprise obligations with amortized cost of $20.6 billion and $22.0 billion at September 30, 2018 , and December 31, 2017 , respectively. Investment securities impairment The following tables present the fair value and gross unrealized losses for investment securities by aging category at September 30, 2018 , and December 31, 2017 . Investment securities with gross unrealized losses Less than 12 months 12 months or more September 30, 2018 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale securities Mortgage-backed securities: U.S. government agencies $ 37,109 $ 988 $ 10,492 $ 520 $ 47,601 $ 1,508 Residential: U.S. 1,343 20 860 16 2,203 36 Non-U.S. 635 2 180 1 815 3 Commercial 914 11 3,018 171 3,932 182 Total mortgage-backed securities 40,001 1,021 14,550 708 54,551 1,729 U.S. Treasury and government agencies 4,556 100 1,416 96 5,972 196 Obligations of U.S. states and municipalities 4,171 63 1,291 55 5,462 118 Certificates of deposit — — — — — — Non-U.S. government debt securities 4,237 16 1,798 29 6,035 45 Corporate debt securities — — 38 1 38 1 Asset-backed securities: Collateralized loan obligations 10,267 42 — — 10,267 42 Other 2,018 6 2,545 21 4,563 27 Total available-for-sale securities 65,250 1,248 21,638 910 86,888 2,158 Held-to-maturity securities Mortgage-backed securities U.S. government agencies 22,131 356 2,595 137 24,726 493 Commercial — — — — — — Total mortgage-backed securities 22,131 356 2,595 137 24,726 493 Obligations of U.S. states and municipalities 853 10 677 21 1,530 31 Total held-to-maturity securities 22,984 366 3,272 158 26,256 524 Total investment securities with gross unrealized losses $ 88,234 $ 1,614 $ 24,910 $ 1,068 $ 113,144 $ 2,682 Investment securities with gross unrealized losses Less than 12 months 12 months or more December 31, 2017 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale securities Mortgage-backed securities: U.S. government agencies $ 36,037 $ 139 $ 7,711 $ 196 $ 43,748 $ 335 Residential: U.S. 1,112 5 596 9 $ 1,708 14 Non-U.S. — — 266 1 266 1 Commercial 528 4 335 1 863 5 Total mortgage-backed securities 37,677 148 8,908 207 46,585 355 U.S. Treasury and government agencies 1,834 11 373 20 2,207 31 Obligations of U.S. states and municipalities 949 7 1,652 26 2,601 33 Certificates of deposit — — — — — — Non-U.S. government debt securities 6,500 15 811 17 7,311 32 Corporate debt securities — — 52 1 52 1 Asset-backed securities: Collateralized loan obligations — — 276 1 276 1 Other 3,521 20 720 4 4,241 24 Total available-for-sale securities 50,481 201 12,792 276 63,273 477 Held-to-maturity securities Mortgage-backed securities U.S. government agencies 4,070 38 205 2 4,275 40 Commercial 3,706 41 1,882 33 5,588 74 Total mortgage-backed securities 7,776 79 2,087 35 9,863 114 Obligations of U.S. states and municipalities 584 9 2,131 71 2,715 80 Total held-to-maturity securities 8,360 88 4,218 106 12,578 194 Total investment securities with gross unrealized losses $ 58,841 $ 289 $ 17,010 $ 382 $ 75,851 $ 671 Gross unrealized losses The Firm has recognized unrealized losses on investment securities that it intends to sell as OTTI. The Firm does not intend to sell any of the remaining investment securities with an unrealized loss in AOCI as of September 30, 2018 , and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis. Except for the securities for which credit losses have been recognized in income, the Firm believes that the investment securities with an unrealized loss in AOCI as of September 30, 2018 , are not other-than-temporarily impaired. For additional information on other-than-temporary impairment, refer to Note 10 of the JPMorgan Chase’s 2017 Annual Report. Investment securities gains and losses The following table presents realized gains and losses and OTTI from AFS securities that were recognized in income. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Realized gains $ 58 $ 122 $ 137 $ 664 Realized losses (103 ) (123 ) (507 ) (696 ) OTTI losses (1 ) — (1 ) (6 ) Net investment securities losses $ (46 ) $ (1 ) $ (371 ) $ (38 ) OTTI losses Credit-related losses recognized in income $ — $ — $ — $ — Investment securities the Firm intends to sell (a) (1 ) — (1 ) (6 ) Total OTTI losses recognized in income $ (1 ) $ — $ (1 ) $ (6 ) (a) Excludes realized losses on securities sold of $21 million and $6 million for the nine months ended September 30, 2018 and 2017 that had been previously reported as an OTTI loss due to the intention to sell the securities. Changes in the credit loss component of credit-impaired debt securities The cumulative credit loss component, including any changes therein, of OTTI losses that have been recognized in income related to AFS securities that the Firm does not intend to sell was not material as of and during the nine month periods ended September 30, 2018 and 2017 . Contractual maturities and yields The following table presents the amortized cost and estimated fair value at September 30, 2018 , of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 30, 2018 (in millions) Due in one year or less Due after one year through five years Due after five years through 10 years Due after 10 years (c) Total Available-for-sale securities Mortgage-backed securities (a) Amortized cost $ 258 $ 377 $ 5,746 $ 74,034 $ 80,415 Fair value 260 379 5,827 72,909 79,375 Average yield (b) 1.84 % 2.45 % 3.44 % 3.48 % 3.46 % U.S. Treasury and government agencies Amortized cost $ 84 $ 8,565 $ 13,644 $ 5,233 $ 27,526 Fair value 85 8,673 13,533 5,525 27,816 Average yield (b) 2.12 % 2.70 % 2.53 % 2.91 % 2.66 % Obligations of U.S. states and municipalities Amortized cost $ 103 $ 715 $ 2,783 $ 33,058 $ 36,659 Fair value 104 728 2,872 34,417 38,121 Average yield (b) 2.07 % 3.89 % 5.05 % 5.01 % 4.98 % Certificates of deposit Amortized cost $ 75 $ — $ — $ — $ 75 Fair value 75 — — — 75 Average yield (b) 0.49 % — % — % — % 0.49 % Non-U.S. government debt securities Amortized cost $ 4,289 $ 14,711 $ 5,398 $ — $ 24,398 Fair value 4,289 14,886 5,499 — 24,674 Average yield (b) 3.00 % 1.86 % 1.30 % — % 1.94 % Corporate debt securities Amortized cost $ 70 $ 914 $ 872 $ 137 $ 1,993 Fair value 70 936 905 145 2,056 Average yield (b) 4.04 % 4.40 % 4.57 % 4.73 % 4.48 % Asset-backed securities Amortized cost $ — $ 3,537 $ 5,345 $ 19,018 $ 27,900 Fair value — 3,515 5,347 19,051 27,913 Average yield (b) — % 2.83 % 3.19 % 3.04 % 3.04 % Total available-for-sale securities Amortized cost $ 4,879 $ 28,819 $ 33,788 $ 131,480 $ 198,966 Fair value 4,883 29,117 33,983 132,047 200,030 Average yield (b) 2.88 % 2.37 % 2.85 % 3.78 % 3.39 % Held-to-maturity securities Mortgage-backed securities (a) Amortized cost $ — $ — $ 2,765 $ 23,772 $ 26,537 Fair value — — 2,725 23,324 26,049 Average yield (b) — % — % 3.52 % 3.33 % 3.35 % Obligations of U.S. states and municipalities Amortized cost $ — $ — $ 20 $ 4,811 $ 4,831 Fair value — — 20 4,849 4,869 Average yield (b) — % — % 3.90 % 4.11 % 4.11 % Total held-to-maturity securities Amortized cost $ — $ — $ 2,785 $ 28,583 $ 31,368 Fair value — — 2,745 28,173 30,918 Average yield (b) — % — % 3.53 % 3.46 % 3.47 % (a) As of September 30, 2018 , mortgage-backed securities issued by Fannie Mae exceeded 10% of JPMorgan Chase ’s total stockholders’ equity; the amortized cost and fair value of such securities was $51.2 billion and $50.6 billion , respectively. (b) Average yield is computed using the effective yield of each security owned at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. The effective yield excludes unscheduled principal prepayments; and accordingly, actual maturities of securities may differ from their contractual or expected maturities as certain securities may be prepaid. (c) Includes investment securities with no stated maturity. Substantially all of the Firm’s U.S. residential MBS and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated weighted-average life, which reflects anticipated future prepayments, is approximately 7 years for agency residential MBS, 3 years for agency residential collateralized mortgage obligations and 3 years |
Securities Financing Activities
Securities Financing Activities | 9 Months Ended |
Sep. 30, 2018 | |
Securities Financing Transactions Disclosures [Abstract] | |
Securities Financing Activities | Securities financing activities For a discussion of accounting policies relating to securities financing activities, refer to Note 11 of JPMorgan Chase’s 2017 Annual Report. For further information regarding securities borrowed and securities lending agreements for which the fair value option has been elected, refer to Note 3 . For further information regarding assets pledged and collateral received in securities financing agreements, refer to Note 21 . The table below summarizes the gross and net amounts of the Firm’s securities financing agreements as of September 30, 2018 and December 31, 2017 . When the Firm has obtained an appropriate legal opinion with respect to the master netting agreement with a counterparty and where other relevant netting criteria under U.S. GAAP are met, the Firm nets, on the Consolidated balance sheets, the balances outstanding under its securities financing agreements with the same counterparty. In addition, the Firm exchanges securities and/or cash collateral with its counterparties; this collateral also reduces the economic exposure with the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. the counterparty. Such collateral, along with securities financing balances that do not meet all these relevant netting criteria under U.S. GAAP, is presented as “Amounts not nettable on the Consolidated balance sheets,” and reduces the “Net amounts” presented below, if the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. September 30, 2018 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 521,732 $ (304,110 ) $ 217,622 $ (205,345 ) $ 12,277 Securities borrowed 143,644 (21,210 ) 122,434 (89,771 ) 32,663 Liabilities Securities sold under repurchase agreements $ 472,560 $ (304,110 ) $ 168,450 $ (154,335 ) $ 14,115 Securities loaned and other (a) 38,720 (21,210 ) 17,510 (17,146 ) 364 December 31, 2017 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 448,608 $ (250,505 ) $ 198,103 $ (188,502 ) $ 9,601 Securities borrowed 113,926 (8,814 ) 105,112 (76,805 ) 28,307 Liabilities Securities sold under repurchase agreements $ 398,218 $ (250,505 ) $ 147,713 $ (129,178 ) $ 18,535 Securities loaned and other (a) 27,228 (8,814 ) 18,414 (18,151 ) 263 (a) Includes securities-for-securities lending transactions of $5.2 billion and $9.2 billion at September 30, 2018 and December 31, 2017 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (b) Includes securities financing agreements accounted for at fair value. At September 30, 2018 and December 31, 2017 , included securities purchased under resale agreements of $12.2 billion and $14.7 billion , respectively and securities sold under agreements to repurchase of $1.1 billion and $697 million , respectively. There were $4.5 billion and $3.0 billion of securities borrowed at September 30, 2018 and December 31, 2017 , respectively. There were no securities loaned accounted for at fair value in either period. (c) In some cases, collateral exchanged with a counterparty exceeds the net asset or liability balance with that counterparty. In such cases, the amounts reported in this column are limited to the related asset or liability with that counterparty. (d) Includes securities financing agreements that provide collateral rights, but where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained. At September 30, 2018 and December 31, 2017 , included $6.4 billion and $7.5 billion , respectively, of securities purchased under resale agreements; $29.7 billion and $25.5 billion , respectively, of securities borrowed; $13.2 billion and $16.5 billion , respectively, of securities sold under agreements to repurchase; and $45 million and $29 million , respectively, of securities loaned and other. The tables below present as of September 30, 2018 , and December 31, 2017 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements. Gross liability balance September 30, 2018 December 31, 2017 (in millions) Securities sold under repurchase agreements Securities loaned and other (a) Securities sold under repurchase agreements Securities loaned and other (a) Mortgage-backed securities U.S. government agencies 25,116 — 13,100 — Residential - nonagency 1,861 — 2,972 — Commercial - nonagency 1,431 — 1,594 — U.S. Treasury and government agencies 236,939 14 177,581 14 Obligations of U.S. states and municipalities 1,161 — 1,557 — Non-U.S. government debt 174,400 2,294 170,196 2,485 Corporate debt securities 15,474 216 14,231 287 Asset-backed securities 2,543 — 3,508 — Equity securities 13,635 36,196 13,479 24,442 Total $ 472,560 $ 38,720 $ 398,218 $ 27,228 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2018 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 195,713 $ 166,754 $ 46,511 $ 63,582 $ 472,560 Total securities loaned and other (a) 29,415 138 1,805 7,362 38,720 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days December 31, 2017 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 142,185 (b) $ 180,674 (b) $ 41,611 $ 33,748 $ 398,218 Total securities loaned and other (a) 22,876 375 2,328 1,649 27,228 (a) Includes securities-for-securities lending transactions of $5.2 billion and $9.2 billion at September 30, 2018 and December 31, 2017 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. (b) The prior period amounts have been revised to conform with the current period presentation. Transfers not qualifying for sale accounting At September 30, 2018 , and December 31, 2017 , the Firm held $1.6 billion and $1.5 billion respectively, of financial assets for which the rights have been transferred to third parties; however, the transfers did not qualify as a sale in accordance with U.S. GAAP. These transfers have been recognized as collateralized financing transactions. The transferred assets are recorded in trading assets and loans, and the corresponding liabilities are recorded predominantly in short-term borrowings on the Consolidated balance sheets. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans | Loans Loan accounting framework The accounting for a loan depends on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. The Firm accounts for loans based on the following categories: • Originated or purchased loans held-for-investment (i.e., “retained”), other than PCI loans • Loans held-for-sale • Loans at fair value • PCI loans held-for-investment For a detailed discussion of loans, including accounting policies, refer to Note 12 of JPMorgan Chase ’s 2017 Annual Report . Refer to Note 3 of this Form 10-Q for further information on the Firm’s elections of fair value accounting under the fair value option. Refer to Note 2 of this Form 10-Q for information on loans carried at fair value and classified as trading assets. Loan portfolio The Firm’s loan portfolio is divided into three portfolio segments, which are the same segments used by the Firm to determine the allowance for loan losses: Consumer, excluding credit card; Credit card; and Wholesale. Within each portfolio segment the Firm monitors and assesses the credit risk in the following classes of loans, based on the risk characteristics of each loan class. Consumer, excluding credit card (a) Credit card Wholesale (f) Residential real estate – excluding PCI • Residential mortgage (b) • Home equity (c) Other consumer loans (d) • Auto • Consumer & Business Banking (e) Residential real estate – PCI • Home equity • Prime mortgage • Subprime mortgage • Option ARMs • Credit card loans • Commercial and industrial • Real estate • Financial institutions • Government agencies • Other (g) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AWM and prime mortgage loans held in Corporate . (b) Predominantly includes prime (including option ARMs) and subprime loans. (c) Includes senior and junior lien home equity loans. (d) Includes certain business banking and auto dealer risk-rated loans that apply the wholesale methodology for determining the allowance for loan losses; these loans are managed by CCB, and therefore, for consistency in presentation, are included with the other consumer loan classes. (e) Predominantly includes Business Banking loans. (f) Includes loans held in CIB, CB, AWM and Corporate. Excludes prime mortgage and home equity loans held in AWM and prime mortgage loans held in Corporate. Classes are internally defined and may not align with regulatory definitions. (g) Includes loans to: individuals (predominantly Wealth Management clients within AWM), SPEs, and private education and civic organizations. For more information on SPEs, refer to Note 14 of JPMorgan Chase ’s 2017 Annual Report . The following tables summarize the Firm’s loan balances by portfolio segment. September 30, 2018 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 375,958 $ 147,856 $ 423,837 $ 947,651 (b) Held-for-sale 104 25 3,551 3,680 At fair value — — 2,987 2,987 Total $ 376,062 $ 147,881 $ 430,375 $ 954,318 December 31, 2017 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 372,553 $ 149,387 $ 402,898 $ 924,838 (b) Held-for-sale 128 124 3,099 3,351 At fair value — — 2,508 2,508 Total $ 372,681 $ 149,511 $ 408,505 $ 930,697 (a) Includes accrued interest and fees net of an allowance for the uncollectible portion of accrued interest and fee income. (b) Loans (other than PCI loans and loans for which the fair value option has been elected) are presented net of unamortized discounts and premiums, and net deferred loan fees or costs. These amounts were not material as of September 30, 2018 , and December 31, 2017 . The following tables provide information about the carrying value of retained loans purchased, sold and reclassified to held-for-sale during the periods indicated. Reclassifications of loans to held-for sale are non-cash transactions. The Firm manages its exposure to credit risk on an ongoing basis. Selling loans is one way that the Firm reduces its credit exposures. Loans that were reclassified to held-for-sale and sold in a subsequent period are excluded from the sales line of this table. 2018 2017 Three months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 561 (a)(b) $ — $ 285 $ 846 $ 711 (a)(b) $ — $ 479 $ 1,190 Sales 1,789 — 4,197 5,986 672 — 3,342 4,014 Retained loans reclassified to held-for-sale — — 666 666 — — 367 367 2018 2017 Nine months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 2,164 (a)(b) $ — $ 1,915 $ 4,079 $ 2,277 (a)(b) $ — $ 1,357 $ 3,634 Sales 4,661 — 12,829 17,490 2,025 — 8,166 10,191 Retained loans reclassified to held-for-sale 36 — 1,926 1,962 6,340 (c) — 961 7,301 (a) Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Government National Mortgage Association (“Ginnie Mae”) guidelines. The Firm typically elects to repurchase these delinquent loans as it continues to service them and/or manage the foreclosure process in accordance with applicable requirements of Ginnie Mae, FHA, RHS, and/or VA. (b) Excludes purchases of retained loans sourced through the correspondent origination channel and underwritten in accordance with the Firm’s standards. Such purchases were $5.6 billion and $6.9 billion for the three months ended September 30, 2018 and 2017 , respectively, and $14.5 billion and $18.2 billion for the nine months ended September 30, 2018 and 2017 , respectively. (c) Includes the Firm’s student loan portfolio which was sold in 2017. Gains and losses on sales of loans Gains and losses on sales of loans (including adjustments to record loans held-for-sale at the lower of cost or fair value) recognized in other income were not material to the Firm for the three and nine months ended September 30, 2018 and 2017 Consumer loans, excluding credit card loans, consist primarily of residential mortgages, home equity loans and lines of credit, auto loans and consumer and business banking loans, with a focus on serving the prime consumer credit market. The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period, and certain payment-option loans that may result in negative amortization. The following table provides information about retained consumer loans, excluding credit card, by class. In 2017, the Firm sold its student loan portfolio. (in millions) September 30, December 31, Residential real estate – excluding PCI Residential mortgage $ 231,361 $ 216,496 Home equity 29,318 33,450 Other consumer loans Auto 63,619 66,242 Consumer & Business Banking 26,451 25,789 Residential real estate – PCI Home equity 9,393 10,799 Prime mortgage 4,931 6,479 Subprime mortgage 2,072 2,609 Option ARMs 8,813 10,689 Total retained loans $ 375,958 $ 372,553 For further information on consumer credit quality indicators, refer to Note 12 of JPMorgan Chase ’s 2017 Annual Report . Residential real estate – excluding PCI loans The following table provides information by class for retained residential real estate – excluding PCI loans. Residential real estate – excluding PCI loans (in millions, except ratios) Residential mortgage Home equity Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 225,799 $ 208,713 $ 28,554 $ 32,391 $ 254,353 $ 241,104 30–149 days past due 2,825 4,234 470 671 3,295 4,905 150 or more days past due 2,737 3,549 294 388 3,031 3,937 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 % of 30+ days past due to total retained loans (b) 0.51 % 0.77 % 2.61 % 3.17 % 0.75 % 1.09 % 90 or more days past due and government guaranteed (c) $ 2,828 $ 4,172 $ — $ — $ 2,828 $ 4,172 Nonaccrual loans 1,880 2,175 1,382 1,610 3,262 3,785 Current estimated LTV ratios (d)(e) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 28 $ 37 $ 6 $ 10 $ 34 $ 47 Less than 660 30 19 1 3 31 22 101% to 125% and refreshed FICO scores: Equal to or greater than 660 20 36 138 296 158 332 Less than 660 60 88 46 95 106 183 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,606 4,369 1,059 1,676 4,665 6,045 Less than 660 314 483 359 569 673 1,052 Less than 80% and refreshed FICO scores: Equal to or greater than 660 212,585 194,758 22,851 25,262 235,436 220,020 Less than 660 6,734 6,952 3,501 3,850 10,235 10,802 No FICO/LTV available 888 1,259 1,357 1,689 2,245 2,948 U.S. government-guaranteed 7,096 8,495 — — 7,096 8,495 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 Geographic region California $ 74,324 $ 68,855 $ 5,852 $ 6,582 $ 80,176 $ 75,437 New York 29,146 27,473 6,016 6,866 35,162 34,339 Illinois 15,242 14,501 2,208 2,521 17,450 17,022 Texas 13,926 12,508 1,843 2,021 15,769 14,529 Florida 10,624 9,598 1,619 1,847 12,243 11,445 New Jersey 7,448 7,142 1,702 1,957 9,150 9,099 Washington 8,057 6,962 904 1,026 8,961 7,988 Colorado 8,131 7,335 525 632 8,656 7,967 Massachusetts 6,545 6,323 246 295 6,791 6,618 Arizona 4,519 4,109 1,211 1,439 5,730 5,548 All other (f) 53,399 51,690 7,192 8,264 60,591 59,954 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.7 billion and $2.4 billion ; 30 – 149 days past due included $2.2 billion and $3.2 billion ; and 150 or more days past due included $2.2 billion and $2.9 billion at September 30, 2018 , and December 31, 2017 , respectively. (b) At September 30, 2018 , and December 31, 2017 , residential mortgage loans excluded mortgage loans insured by U.S. government agencies of $4.4 billion and $6.1 billion , respectively, that are 30 or more days past due. These amounts have been excluded based upon the government guarantee. (c) These balances, which are 90 days or more past due, were excluded from nonaccrual loans as the loans are guaranteed by U.S government agencies. Typically the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. At September 30, 2018 , and December 31, 2017 , these balances included $1.3 billion and $1.5 billion , respectively, of loans that are no longer accruing interest based on the agreed-upon servicing guidelines. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. There were no loans that were not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing interest at September 30, 2018 , and December 31, 2017 . (d) Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (e) Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. (f) At September 30, 2018 , and December 31, 2017 , included mortgage loans insured by U.S. government agencies of $7.1 billion and $8.5 billion , respectively. These amounts have been excluded from the geographic regions presented based upon the government guarantee. Approximately 37% of the home equity portfolio are senior lien loans; the remaining balance are junior lien HELOANs or HELOCs. The following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines of credit as of September 30, 2018 , and December 31, 2017 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 5,482 $ 6,363 0.22 % 0.50 % Beyond the revolving period 11,982 13,532 2.78 3.56 HELOANs 1,104 1,371 2.99 3.50 Total $ 18,568 $ 21,266 2.04 % 2.64 % (a) These HELOCs are predominantly revolving loans for a 10 -year period, after which time the HELOC converts to a loan with a 20 -year amortization period, but also include HELOCs that allow interest-only payments beyond the revolving period. (b) The Firm manages the risk of HELOCs during their revolving period by closing or reducing the undrawn line to the extent permitted by law when borrowers are experiencing financial difficulty. HELOCs beyond the revolving period and HELOANs have higher delinquency rates than HELOCs within the revolving period. That is primarily because the fully-amortizing payment that is generally required for those products is higher than the minimum payment options available for HELOCs within the revolving period. The higher delinquency rates associated with amortizing HELOCs and HELOANs are factored into the Firm’s allowance for loan losses. Impaired loans The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 13 of JPMorgan Chase ’s 2017 Annual Report . Residential mortgage Home equity Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 3,558 $ 4,407 $ 1,177 $ 1,236 $ 4,735 $ 5,643 Without an allowance (a) 1,164 1,213 879 882 2,043 2,095 Total impaired loans (b)(c) $ 4,722 $ 5,620 $ 2,056 $ 2,118 $ 6,778 $ 7,738 Allowance for loan losses related to impaired loans $ 97 $ 62 $ 42 $ 111 $ 139 $ 173 Unpaid principal balance of impaired loans (d) 6,439 7,741 3,537 3,701 9,976 11,442 Impaired loans on nonaccrual status (e) 1,536 1,743 993 1,032 2,529 2,775 (a) Represents collateral-dependent residential real estate loans that are charged off to the fair value of the underlying collateral less cost to sell. The Firm reports, in accordance with regulatory guidance, residential real estate loans that have been discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (“Chapter 7 loans”) as collateral-dependent nonaccrual TDRs, regardless of their delinquency status. At September 30, 2018 , Chapter 7 residential real estate loans included approximately 13% of residential mortgages and 9% of home equity that were 30 days or more past due. (b) At September 30, 2018 , and December 31, 2017 , $4.0 billion and $3.8 billion , respectively, of loans modified subsequent to repurchase from Ginnie Mae in accordance with the standards of the appropriate government agency (i.e., FHA, VA, RHS) are not included in the table above. When such loans perform subsequent to modification in accordance with Ginnie Mae guidelines, they are generally sold back into Ginnie Mae loan pools. Modified loans that do not re-perform become subject to foreclosure. (c) Predominantly all residential real estate impaired loans, excluding PCI loans, are in the U.S. (d) Represents the contractual amount of principal owed at September 30, 2018 , and December 31, 2017 . The unpaid principal balance differs from the impaired loan balances due to various factors including charge-offs, net deferred loan fees or costs, and unamortized discounts or premiums on purchased loans. (e) At September 30, 2018 and December 31, 2017 , nonaccrual loans included $2.0 billion and $2.2 billion , respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework in Note 12 of JPMorgan Chase ’s 2017 Annual Report . The following tables present average impaired loans and the related interest income reported by the Firm. Three months ended September 30, Average impaired loans Interest income on impaired loans (a) Interest income on impaired (a) 2018 2017 2018 2017 2018 2017 Residential mortgage $ 4,872 $ 5,743 $ 61 $ 71 $ 19 $ 19 Home equity 2,065 2,150 33 32 21 20 Total residential real estate – excluding PCI $ 6,937 $ 7,893 $ 94 $ 103 $ 40 $ 39 Nine months ended September 30, 2018 Average impaired loans Interest income on impaired loans (a) Interest income on impaired loans on a cash basis (a) 2018 2017 2018 2017 2018 2017 Residential mortgage $ 5,242 $ 5,861 $ 197 $ 217 $ 58 $ 57 Home equity 2,092 2,213 98 95 63 60 Total residential real estate – excluding PCI $ 7,334 $ 8,074 $ 295 $ 312 $ 121 $ 117 (a) Generally, interest income on loans modified in TDRs is recognized on a cash basis until the borrower has made a minimum of six payments under the new terms, unless the loan is deemed to be collateral-dependent. Loan modifications Modifications of residential real estate loans, excluding PCI loans, are generally accounted for and reported as TDRs. There were no additional commitments to lend to borrowers whose residential real estate loans, excluding PCI loans, have been modified in TDRs. The following table presents new TDRs reported by the Firm. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Residential mortgage $ 67 $ 57 $ 314 $ 225 Home equity 55 82 241 232 Total residential real estate – excluding PCI $ 122 $ 139 $ 555 $ 457 Nature and extent of modifications The U.S. Treasury’s Making Home Affordable programs, as well as the Firm’s proprietary modification programs, generally provide various concessions to financially troubled borrowers including, but not limited to, interest rate reductions, term or payment extensions and deferral of principal and/or interest payments that would otherwise have been required under the terms of the original agreement. The following tables provide information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs described above during the periods presented. These tables exclude Chapter 7 loans where the sole concession granted is the discharge of debt . Three months ended September 30, Total residential real estate – excluding PCI Residential mortgage Home equity 2018 2017 2018 2017 2018 2017 Number of loans approved for a trial modification 513 206 586 536 1,099 742 Number of loans permanently modified 719 510 939 1,228 1,658 1,738 Concession granted: (a) Interest rate reduction 58 % 64 % 77 % 60 % 69 % 61 % Term or payment extension 83 80 88 66 86 70 Principal and/or interest deferred 30 22 11 8 19 12 Principal forgiveness 9 17 7 19 8 19 Other (b) 36 15 58 32 49 27 Nine months ended September 30, Total residential Residential mortgage Home equity 2018 2017 2018 2017 2018 2017 Number of loans approved for a trial modification 1,789 1,052 1,895 1,844 3,684 2,896 Number of loans permanently modified 2,374 1,952 4,005 4,028 6,379 5,980 Concession granted: (a) Interest rate reduction 36 % 73 % 57 % 68 % 49 % 69 % Term or payment extension 49 84 62 78 57 80 Principal and/or interest deferred 47 16 22 12 31 13 Principal forgiveness 7 18 7 12 7 14 Other (b) 40 24 58 19 52 21 (a) Represents concessions granted in permanent modifications as a percentage of the number of loans permanently modified. The sum of the percentages exceeds 100% because predominantly all of the modifications include more than one type of concession. Concessions offered on trial modifications are generally consistent with those granted on permanent modifications. (b) Includes variable interest rate to fixed interest rate modifications for the three and nine months ended September 30, 2018 and 2017 . Also includes forbearances that meet the definition of a TDR for the three and nine months ended September 30, 2018 . Forbearances suspend or reduce monthly payments for a specific period of time to address a temporary hardship. Financial effects of modifications and redefaults The following tables provide information about the financial effects of the various concessions granted in modifications of residential real estate loans, excluding PCI loans, under the loss mitigation programs described above and about redefaults of certain loans modified in TDRs for the periods presented. The following tables present only the financial effects of permanent modifications and does not include temporary concessions offered through trial modifications. These tables also exclude Chapter 7 loans where the sole concession granted is the discharge of debt. Three months ended September 30, Residential mortgage Home equity Total residential real estate – excluding PCI 2018 2017 2018 2017 2018 2017 Weighted-average interest rate of loans with interest rate reductions – before TDR 6.13 % 4.92 % 5.69 % 5.26 % 5.89 % 5.06 % Weighted-average interest rate of loans with interest rate reductions – after TDR 4.23 2.89 3.83 2.96 4.01 2.92 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 22 24 18 18 21 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 39 38 39 38 39 38 Charge-offs recognized upon permanent modification $ — $ — $ — $ — $ — $ — Principal deferred 7 3 2 1 9 4 Principal forgiven 3 5 1 4 4 9 Balance of loans that redefaulted within one year of permanent modification (a) $ 27 $ 32 $ 19 $ 17 $ 46 $ 49 Nine months ended September 30, Residential mortgage Home equity Total residential real estate – excluding PCI 2018 2017 2018 2017 2018 2017 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.45 % 5.16 % 5.34 % 4.92 % 5.39 % 5.06 % Weighted-average interest rate of loans with interest rate reductions – after TDR 3.64 2.97 3.39 2.55 3.49 2.79 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 24 24 18 22 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 38 39 39 38 38 Charge-offs recognized upon permanent modification $ — $ 1 $ 1 $ 1 $ 1 $ 2 Principal deferred 17 10 7 8 24 18 Principal forgiven 9 16 5 9 14 25 Balance of loans that redefaulted within one year of permanent modification (a) $ 69 $ 86 $ 49 $ 36 $ 118 $ 122 (a) Represents loans permanently modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The dollar amounts presented represent the balance of such loans at the end of the reporting period in which such loans defaulted. For residential real estate loans modified in TDRs, payment default is deemed to occur when the loan becomes two contractual payments past due. In the event that a modified loan redefaults, it is probable that the loan will ultimately be liquidated through foreclosure or another similar type of liquidation transaction. Redefaults of loans modified within the last 12 months may not be representative of ultimate redefault levels. At September 30, 2018 , the weighted-average estimated remaining lives of residential real estate loans, excluding PCI loans, permanently modified in TDRs were 10 years for residential mortgage and 9 years for home equity. The estimated remaining lives of these loans reflect estimated prepayments, both voluntary and involuntary (i.e., foreclosures and other forced liquidations). Active and suspended foreclosure At September 30, 2018 , and December 31, 2017 , the Firm had non-PCI residential real estate loans, excluding those insured by U.S. government agencies, with a carrying value of $719 million and $787 million , respectively, that were not included in REO, but were in the process of active or suspended foreclosure. Other consumer loans The table below provides information for other consumer retained loan classes, including auto and business banking loans. (in millions, except ratios) Auto Consumer & Business Banking Total other consumer Sep 30, 2018 Dec 31, 2017 Sep 30, 2018 Dec 31, 2017 Sep 30, 2018 Dec 31, 2017 Loan delinquency Current $ 63,095 $ 65,651 $ 26,170 $ 25,454 $ 89,265 $ 91,105 30–119 days past due 517 584 183 213 700 797 120 or more days past due 7 7 98 122 105 129 Total retained loans $ 63,619 $ 66,242 $ 26,451 $ 25,789 $ 90,070 $ 92,031 % of 30+ days past due to total retained loans 0.82 % 0.89 % 1.06 % 1.30 % 0.89 % 1.01 % Nonaccrual loans (a) 137 141 237 283 374 424 Geographic region California $ 8,382 $ 8,445 $ 5,375 $ 5,032 $ 13,757 $ 13,477 Texas 6,497 7,013 3,002 2,916 9,499 9,929 New York 3,843 4,023 4,218 4,195 8,061 8,218 Illinois 3,667 3,916 2,045 2,017 5,712 5,933 Florida 3,332 3,350 1,484 1,424 4,816 4,774 Arizona 2,061 2,221 1,451 1,383 3,512 3,604 Ohio 1,987 2,105 1,346 1,380 3,333 3,485 New Jersey 1,990 2,044 738 721 2,728 2,765 Michigan 1,378 1,418 1,332 1,357 2,710 2,775 Louisiana 1,570 1,656 860 849 2,430 2,505 All other 28,912 30,051 4,600 4,515 33,512 34,566 Total retained loans $ 63,619 $ 66,242 $ 26,451 $ 25,789 $ 90,070 $ 92,031 Loans by risk ratings (b) Noncriticized $ 14,193 $ 15,604 $ 18,644 $ 17,938 $ 32,837 $ 33,542 Criticized performing 337 93 760 791 1,097 884 Criticized nonaccrual 3 9 195 213 198 222 (a) There were no loans that were 90 or more days past due and still accruing interest at September 30, 2018 , and December 31, 2017 . (b) For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. Other consumer impaired loans and loan modifications The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. (in millions) September 30, December 31, Impaired loans With an allowance $ 227 $ 272 Without an allowance (a) 41 26 Total impaired loans (b)(c) $ 268 $ 298 Allowance for loan losses related to impaired loans $ 65 $ 73 Unpaid principal balance of impaired loans (d) 372 402 Impaired loans on nonaccrual status 244 268 (a) When discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged off and/or there have been interest payments received and applied to the loan balance. (b) Predominantly all other consumer impaired loans are in the U.S. (c) Other consumer average impaired loans were $271 million and $366 million for the three months ended September 30, 2018 and 2017 , respectively, and $281 million and $459 million for the nine months ended September 30, 2018 and 2017 , respectively. The related interest income on impaired loans, including those on a cash basis, was not material for the three and nine months ended September 30, 2018 and 2017 . (d) Represents the contractual amount of principal owed at September 30, 2018 , and December 31, 2017 . The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs, interest payments received and applied to the principal balance, net deferred loan fees or costs, and unamortized discounts or premiums on purchased loans. Loan modifications Certain other consumer loan modifications are considered to be TDRs as they provide various concessions to borrowers who are experiencing financial difficulty. All of these TDRs are reported as impaired loans. Refer to Note 12 of JPMorgan Chase’s 2017 Annual Report for further information on other consumer loans modified in TDRs. At September 30, 2018 and December 31, 2017 , other consumer loans modified in TDRs were $90 million and $102 million , respectively. The impact of these modifications, as well as new TDRs, were not material to the Firm for the three and nine months ended September 30, 2018 and 2017 . Additional commitments to lend to borrowers whose loans have been modified in TDRs as of September 30, 2018 and December 31, 2017 were not material. TDRs on nonaccrual status were $66 million and $72 million at September 30, 2018 and December 31, 2017 , respectively. Purchased credit-impaired loans For a detailed discussion of PCI loans, including the related accounting policies, refer to Note 12 of JPMorgan Chase ’s 2017 Annual Report . Residential real estate – PCI loans The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. Home equity Prime mortgage Subprime mortgage Option ARMs Total PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Carrying value (a) $ 9,393 $ 10,799 $ 4,931 $ 6,479 $ 2,072 $ 2,609 $ 8,813 $ 10,689 $ 25,209 $ 30,576 Loan delinquency (based on unpaid principal balance) Current $ 9,047 $ 10,272 $ 4,429 $ 5,839 $ 2,152 $ 2,640 $ 7,904 $ 9,662 $ 23,532 $ 28,413 30–149 days past due 257 356 269 336 297 381 427 547 1,250 1,620 150 or more days past due 263 392 257 327 143 176 526 689 1,189 1,584 Total loans $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 % of 30+ days past due to total loans 5.44 % 6.79 % 10.62 % 10.20 % 16.98 % 17.42 % 10.76 % 11.34 % 9.39 % 10.13 % Current estimated LTV ratios (based on unpaid principal balance) (b)(c) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 17 $ 33 $ 1 $ 4 $ — $ 2 $ 3 $ 6 $ 21 $ 45 Less than 660 15 21 10 16 12 20 8 9 45 66 101% to 125% and refreshed FICO scores: Equal to or greater than 660 153 274 7 16 8 20 24 43 192 353 Less than 660 73 132 24 42 38 75 46 71 181 320 80% to 100% and refreshed FICO scores: Equal to or greater than 660 846 1,195 92 221 62 119 145 316 1,145 1,851 Less than 660 394 559 132 230 192 309 220 371 938 1,469 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,627 6,134 2,791 3,551 753 895 5,235 6,113 14,406 16,693 Less than 660 1,940 2,095 1,649 2,103 1,403 1,608 2,792 3,499 7,784 9,305 No FICO/LTV available 502 577 249 319 124 149 384 470 1,259 1,515 Total unpaid principal balance $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 Geographic region (based on unpaid principal balance) California $ 5,678 $ 6,555 $ 2,706 $ 3,716 $ 627 $ 797 $ 4,966 $ 6,225 $ 13,977 $ 17,293 Florida 1,014 1,137 351 428 249 296 753 878 2,367 2,739 New York 543 607 383 457 282 330 538 628 1,746 2,022 Washington 442 532 103 135 46 61 185 238 776 966 Illinois 242 273 164 200 131 161 211 249 748 883 New Jersey 217 242 145 178 94 110 283 336 739 866 Massachusetts 67 79 118 149 78 98 252 307 515 633 Maryland 51 57 104 129 106 132 188 232 449 550 Virginia 56 66 94 123 39 51 234 280 423 520 Arizona 175 203 70 106 45 60 121 156 411 525 All other 1,082 1,269 717 881 895 1,101 1,126 1,369 3,820 4,620 Total unpaid principal balance $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 (a) Carrying value includes the effect of fair value adjustments that were applied to the consumer PCI portfolio at the date of acquisition. (b) Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (c) Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. Approximately 25% of the PCI home equity portfolio are senior lien loans; the remaining balance are junior lien HELOANs or HELOCs. The following table represents the Firm’s delinquency statistics for PCI junior lien home equity loans and lines of credit based on |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses | Allowance for credit losses For a detailed discussion of the allowance for credit losses and the related accounting policies, refer to Note 13 of JPMorgan Chase ’s 2017 Annual Report . Allowance for credit losses and related information The table below summarizes information about the allowances for loan losses and lending-related commitments, and includes a breakdown of loans and lending-related commitments by impairment methodology. 2018 2017 Nine months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Allowance for loan losses Beginning balance at January 1, $ 4,579 $ 4,884 $ 4,141 $ 13,604 $ 5,198 $ 4,034 $ 4,544 $ 13,776 Gross charge-offs 776 3,777 264 4,817 1,479 3,344 154 4,977 Gross recoveries (681 ) (370 ) (146 ) (1,197 ) (478 ) (295 ) (81 ) (854 ) Net charge-offs 95 3,407 118 3,620 1,001 3,049 73 4,123 Write-offs of PCI loans (a) 151 — — 151 66 — — 66 Provision for loan losses (152 ) 3,557 (111 ) 3,294 653 3,699 (401 ) 3,951 Other 1 — — 1 (2 ) — 3 1 Ending balance at September 30, $ 4,182 $ 5,034 $ 3,912 $ 13,128 $ 4,782 $ 4,684 $ 4,073 $ 13,539 Allowance for loan losses by impairment methodology Asset-specific (b) $ 204 $ 421 (c) $ 280 $ 905 $ 271 $ 376 (c) $ 363 $ 1,010 Formula-based 2,154 4,613 3,632 10,399 2,266 4,308 3,710 10,284 PCI 1,824 — — 1,824 2,245 — — 2,245 Total allowance for loan losses $ 4,182 $ 5,034 $ 3,912 $ 13,128 $ 4,782 $ 4,684 $ 4,073 $ 13,539 Loans by impairment methodology Asset-specific $ 7,046 $ 1,284 $ 1,051 $ 9,381 $ 8,147 $ 1,206 $ 1,638 $ 10,991 Formula-based 343,703 146,572 422,783 913,058 329,445 139,994 396,928 866,367 PCI 25,209 — 3 25,212 31,821 — 3 31,824 Total retained loans $ 375,958 $ 147,856 $ 423,837 $ 947,651 $ 369,413 $ 141,200 $ 398,569 $ 909,182 Impaired collateral-dependent loans Net charge-offs $ 15 $ — $ — $ 15 $ 47 $ — $ 30 $ 77 Loans measured at fair value of collateral less cost to sell 2,077 — 258 2,335 2,198 — 250 2,448 Allowance for lending-related commitments Beginning balance at January 1, $ 33 $ — $ 1,035 $ 1,068 $ 26 $ — $ 1,052 $ 1,078 Provision for lending-related commitments — — 29 29 7 — 24 31 Other — — — — — — — — Ending balance at September 30, $ 33 $ — $ 1,064 $ 1,097 $ 33 $ — $ 1,076 $ 1,109 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 71 $ 71 $ — $ — $ 220 $ 220 Formula-based 33 — 993 1,026 33 — 856 889 Total allowance for lending-related commitments $ 33 $ — $ 1,064 $ 1,097 $ 33 $ — $ 1,076 $ 1,109 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 252 $ 252 $ — $ — $ 764 $ 764 Formula-based 50,630 600,728 397,064 1,048,422 52,796 (d) 574,641 371,616 999,053 (d) Total lending-related commitments $ 50,630 $ 600,728 $ 397,316 $ 1,048,674 $ 52,796 (d) $ 574,641 $ 372,380 $ 999,817 (d) (a) Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. A write-off of a PCI loan is recognized when the underlying loan is removed from a pool. (b) Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR. (c) The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates. (d) |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2018 | |
Variable Interest Entities [Abstract] | |
Variable Interest Entities | Variable interest entities For a further description of JPMorgan Chase’s accounting policies regarding consolidation of VIEs, refer to Note 1 of JPMorgan Chase’s 2017 Annual Report . The following table summarizes the most significant types of Firm-sponsored VIEs by business segment. Line of Business Transaction Type Activity Form 10-Q page reference CCB Credit card securitization trusts Securitization of originated credit card receivables 148 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 148-150 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and other consumer loans 148-150 Multi-seller conduits Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs 150 Municipal bond vehicles Financing of municipal bond investments 150 The Firm also invests in and provides financing and other services to VIEs sponsored by third parties. Refer to pages 151-152 of this Note for more information on the VIEs sponsored by third parties. Significant Firm-sponsored VIEs Credit card securitizations For a more detailed discussion of JPMorgan Chase’s involvement with credit card securitizations, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . As a result of the Firm’s continuing involvement, the Firm is considered to be the primary beneficiary of its Firm-sponsored credit card securitization trusts, including its primary vehicle, the Chase Issuance Trust. Refer to the table on page 151 of this Note for further information on consolidated VIE assets and liabilities. Firm-sponsored mortgage and other securitization trusts The Firm securitizes (or has securitized) originated and purchased residential mortgages, commercial mortgages and other consumer loans primarily in its CCB and CIB businesses. Depending on the particular transaction, as well as the respective business involved, the Firm may act as the servicer of the loans and/or retain certain beneficial interests in the securitization trusts. For a detailed discussion of the Firm’s involvement with Firm-sponsored mortgage and other securitization trusts, as well as the accounting treatment relating to such trusts, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . The following table presents the total unpaid principal amount of assets held in Firm-sponsored private-label securitization entities, including those in which the Firm has continuing involvement, and those that are consolidated by the Firm. Continuing involvement includes servicing the loans, holding senior interests or subordinated interests (including amounts required to be held pursuant to credit risk retention rules), recourse or guarantee arrangements, and derivative transactions. In certain instances, the Firm’s only continuing involvement is servicing the loans. Refer to Securitization activity on page 152 of this Note for further information regarding the Firm’s cash flows associated with and interests retained in nonconsolidated VIEs, and pages 152-153 of this Note for information on the Firm’s loan sales to U.S. government agencies. Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) September 30, 2018 (in millions) Total assets held by securitization VIEs Assets Assets held in nonconsolidated securitization VIEs with continuing involvement Trading assets Investment securities Other financial assets Total interests held by JPMorgan Securitization-related (a) Residential mortgage: Prime/Alt-A and option ARMs $ 65,481 $ 3,314 $ 51,914 $ 607 $ 704 $ — $ 1,311 Subprime 17,278 19 15,950 55 — — 55 Commercial and other (b) 102,603 — 77,494 497 869 216 1,582 Total $ 185,362 $ 3,333 $ 145,358 $ 1,159 $ 1,573 $ 216 $ 2,948 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2017 (in millions) Total assets held by securitization VIEs Assets held in consolidated securitization VIEs Assets held in nonconsolidated securitization VIEs with continuing involvement Trading assets Investment securities Other financial assets Total interests held by JPMorgan Chase Securitization-related (a) Residential mortgage: Prime/Alt-A and option ARMs $ 68,874 $ 3,615 $ 52,280 $ 410 $ 943 $ — $ 1,353 Subprime 18,984 7 17,612 93 — — 93 Commercial and other (b) 94,905 63 63,411 745 1,133 157 2,035 Total $ 182,763 $ 3,685 $ 133,303 $ 1,248 $ 2,076 $ 157 $ 3,481 (a) Excludes U.S. government agency securitizations and re-securitizations, which are not Firm-sponsored. Refer to pages 152-153 of this Note for information on the Firm’s loan sales to U.S. government agencies. (b) Consists of securities backed by commercial loans (predominantly real estate) and non-mortgage-related consumer receivables purchased from third parties. (c) Excludes the following: retained servicing (refer to Note 14 for a discussion of MSRs); securities retained from loan sales to U.S. government agencies; interest rate and foreign exchange derivatives primarily used to manage interest rate and foreign exchange risks of securitization entities (Refer to Note 4 for further information on derivatives); senior and subordinated securities of $75 million and $111 million , respectively, at September 30, 2018 , and $88 million and $48 million , respectively, at December 31, 2017 , which the Firm purchased in connection with CIB’s secondary market-making activities. (d) Includes interests held in re-securitization transactions. (e) As of September 30, 2018 , and December 31, 2017 , 66% and 61% , respectively, of the Firm’s retained securitization interests, which are predominantly carried at fair value and include amounts required to be held pursuant to credit risk retention rules, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $1.3 billion of investment-grade at both September 30, 2018 and December 31, 2017 , and $34 million and $48 million of noninvestment-grade at September 30, 2018 , and December 31, 2017 , respectively. The retained interests in commercial and other securitizations trusts consisted of $1.2 billion and $1.6 billion of investment-grade and $410 million and $412 million of noninvestment-grade retained interests at September 30, 2018 , and December 31, 2017 , respectively. Residential mortgage The Firm securitizes residential mortgage loans originated by CCB , as well as residential mortgage loans purchased from third parties by either CCB or CIB . For a more detailed description of the Firm’s involvement with residential mortgage securitizations, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . Refer to the table on page 151 of this Note for more information on the consolidated residential mortgage securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated residential mortgage securitizations. Commercial mortgages and other consumer securitizations CIB originates and securitizes commercial mortgage loans, and engages in underwriting and trading activities involving the securities issued by securitization trusts. For a more detailed description of the Firm’s involvement with commercial mortgage and other consumer securitizations, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . Refer to the table on page 151 of this Note for more information on the consolidated commercial mortgage securitizations, and the table on the previous page of this Note for further information on interests held in nonconsolidated securitizations. Re-securitizations For a more detailed description of JPMorgan Chase’s participation in certain re-securitization transactions, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report. The following table presents the principal amount of securities transferred to re-securitization VIEs. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Transfers of securities to VIEs Agency $ 2,540 $ 1,477 $ 11,321 $ 6,163 The following table presents information on nonconsolidated re-securitization VIEs. Nonconsolidated re-securitization VIEs (in millions) September 30, 2018 December 31, 2017 Firm-sponsored private-label Assets held in VIEs with continuing involvement (a) $ 198 $ 783 Interest in VIEs 10 29 Agency Interest in VIEs 2,263 2,250 (a) Represents the principal amount and includes the notional amount of interest-only securities. As of September 30, 2018 , and December 31, 2017 , the Firm did not consolidate any agency re-securitization VIEs or any Firm-sponsored private-label re-securitization VIEs. Multi-seller conduits For a more detailed description of JPMorgan Chase’s principal involvement with Firm -administered multi-seller conduits, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . In the normal course of business, JPMorgan Chase makes markets in and invests in commercial paper issued by the Firm -administered multi-seller conduits. The Firm held $18.7 billion and $20.4 billion of the commercial paper issued by the Firm -administered multi-seller conduits at September 30, 2018 , and December 31, 2017 , respectively, which have been eliminated in consolidation. The Firm’s investments reflect the Firm’s funding needs and capacity and were not driven by market illiquidity. Other than the amounts required to be held pursuant to credit risk retention rules, the Firm is not obligated under any agreement to purchase the commercial paper issued by the Firm -administered multi-seller conduits. Deal-specific liquidity facilities, program-wide liquidity and credit enhancement provided by the Firm have been eliminated in consolidation. The Firm or the Firm-administered multi-seller conduits provide lending-related commitments to certain clients of the Firm-administered multi-seller conduits. The unfunded commitments were $9.2 billion and $8.8 billion at September 30, 2018 , and December 31, 2017 , respectively, and are reported as off-balance sheet lending-related commitments. For more information on off-balance sheet lending-related commitments, refer to Note 20 . Municipal bond vehicles Municipal bond vehicles or tender option bond (“TOB”) trusts allow institutions to finance their municipal bond investments at short-term rates. TOB transactions are known as Customer TOB trusts and Non-Customer TOB trusts. Customer TOB trusts are sponsored by a third party; refer to pages 151-152 of this Note for further information. The Firm serves as sponsor for all Non-Customer TOB transactions. For a more detailed description of JPMorgan Chase’s Municipal bond vehicles, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . The Firm had no exposure to nonconsolidated Firm- sponsored municipal bond vehicles at September 30, 2018 and December 31, 2017 , respectively. Refer to pages 151-152 of this Note for further information on consolidated municipal bond vehicles. Consolidated VIE assets and liabilities The following table presents information on assets and liabilities related to VIEs consolidated by the Firm as of September 30, 2018 , and December 31, 2017 . Assets Liabilities September 30, 2018 (in millions) Trading assets Loans Other (b) Total assets (c) Beneficial interests in VIE assets (d) Other (e) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 30,949 $ 504 $ 31,453 $ 14,142 $ 12 $ 14,154 Firm-administered multi-seller conduits 1 22,797 129 22,927 4,304 30 4,334 Municipal bond vehicles 1,370 — 4 1,374 1,344 2 1,346 Mortgage securitization entities (a) 62 3,368 37 3,467 304 171 475 Other 134 — 1,733 1,867 147 115 262 Total $ 1,567 $ 57,114 $ 2,407 $ 61,088 $ 20,241 $ 330 $ 20,571 Assets Liabilities December 31, 2017 (in millions) Trading assets Loans Other (b) Total assets (c) Beneficial interests in VIE assets (d) Other (e) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 41,923 $ 652 $ 42,575 $ 21,278 $ 16 $ 21,294 Firm-administered multi-seller conduits — 23,411 48 23,459 3,045 28 3,073 Municipal bond vehicles 1,278 — 3 1,281 1,265 2 1,267 Mortgage securitization entities (a) 66 3,661 55 3,782 359 199 558 Other 105 — 1,916 2,021 134 104 238 Total $ 1,449 $ 68,995 $ 2,674 $ 73,118 $ 26,081 $ 349 $ 26,430 (a) Includes residential and commercial mortgage securitizations. (b) Includes assets classified as cash and other assets on the Consolidated balance sheets. (c) The assets of the consolidated VIEs included in the program types above are used to settle the liabilities of those entities. The assets and liabilities include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. (d) The interest-bearing beneficial interest liabilities issued by consolidated VIEs are classified in the line item on the Consolidated balance sheets titled, “Beneficial interests issued by consolidated variable interest entities.” The holders of these beneficial interests generally do not have recourse to the general credit of JPMorgan Chase . For conduits program-wide credit enhancements, refer to note 14 of JPMorgan Chase’s 2017 Annual Report. Included in beneficial interests in VIE assets are long-term beneficial interests of $14.6 billion and $21.8 billion at September 30, 2018 , and December 31, 2017 , respectively. (e) Includes liabilities classified as accounts payable and other liabilities on the Consolidated balance sheets. VIEs sponsored by third parties The Firm enters into transactions with VIEs structured by other parties. These include, for example, acting as a derivative counterparty, liquidity provider , investor , underwriter, placement agent, remarketing agent, trustee or custodian. These transactions are conducted at arm’s-length, and individual credit decisions are based on the analysis of the specific VIE, taking into consideration the quality of the underlying assets. Where the Firm does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, or a variable interest that could potentially be significant, the Firm generally does not consolidate the VIE, but it records and reports these positions on its Consolidated balance sheets in the same manner it would record and report positions in respect of any other third-party transaction. Tax credit vehicles The Firm holds investments in unconsolidated tax credit vehicles, which are limited partnerships and similar entities that construct, own and operate affordable housing , wind , solar and other alternative energy projects. These entities are primarily considered VIEs. A third party is typically the general partner or managing member and has control over the significant activities of the tax credit vehicles, and accordingly the Firm does not consolidate tax credit vehicles. The Firm generally invests in these partnerships as a limited partner and earns a return primarily through the receipt of tax credits allocated to the projects. The maximum loss exposure, represented by equity investments and funding commitments, was $ 13.7 billion and $13.4 billion , of which $3.2 billion was unfunded at both September 30, 2018 and December 31, 2017 , respectively. In order to reduce the risk of loss, the Firm assesses each project and withholds varying amounts of its capital investment until qualification of the project for tax credits. For further information on affordable housing tax credits, refer to Note 24 of JPMorgan Chase’s 2017 Annual Report. For more information on off-balance sheet lending-related commitments, refer to Note 20 of this Form 10-Q. Customer municipal bond vehicles (TOB trusts) The Firm may provide various services to Customer TOB trusts, including remarketing agent, liquidity or tender option provider. In certain Customer TOB transactions, the Firm, as liquidity provider, has entered into a reimbursement agreement with the Residual holder. In those transactions, upon the termination of the vehicle, the Firm has recourse to the third party Residual holders for any shortfall. The Firm does not have any intent to protect Residual holders from potential losses on any of the underlying municipal bonds. The Firm does not consolidate Customer TOB trusts, since the Firm does not have the power to make decisions that significantly impact the economic performance of the municipal bond vehicle. The Firm’s maximum exposure as a liquidity provider to Customer TOB trusts at September 30, 2018 and December 31, 2017 was $5.0 billion and $5.3 billion , respectively. The fair value of assets held by such VIEs at September 30, 2018 and December 31, 2017 , was $8.0 billion and $9.2 million , respectively. For more information on off-balance sheet lending-related commitments, refer to Note 20 . Loan securitizations The Firm has securitized and sold a variety of loans, including residential mortgage, credit card, and commercial mortgage. For a further description of the Firm’s accounting policies regarding securitizations, refer to Note 14 of JPMorgan Chase’s 2017 Annual Report . Securitization activity The following table provides information related to the Firm’s securitization activities for the three and nine months ended September 30, 2018 and 2017 , related to assets held in Firm -sponsored securitization entities that were not consolidated by the Firm, and where sale accounting was achieved at the time of the securitization. Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (in millions) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Principal securitized $ 1,513 $ 3,533 $ 1,017 $ 4,411 $ 5,972 $ 8,705 $ 3,066 $ 7,723 All cash flows during the period (a) : Proceeds received from loan sales as financial instruments (b) $ 1,524 $ 3,558 $ 1,053 $ 4,419 $ 5,984 $ 8,745 $ 3,136 $ 7,796 Servicing fees collected (c) 43 1 49 1 134 1 151 3 Purchases of previously transferred financial assets (or the underlying collateral) (d) — — — — — — 1 — Cash flows received on interests 99 99 125 287 328 230 384 828 (a) Excludes re-securitization transactions. (b) Predominantly includes Level 2 assets. (c) The prior period amounts have been revised to conform with the current period presentation. (d) Includes cash paid by the Firm to reacquire assets from off–balance sheet, nonconsolidated entities – for example, loan repurchases due to representation and warranties and servicer “clean-up” calls. (e) Includes prime, Alt-A, subprime, and option ARMs. Excludes loan securitization transactions entered into with Ginnie Mae, Fannie Mae and Freddie Mac. (f) Includes commercial mortgage and other consumer loans. Loans and excess MSRs sold to U.S. government-sponsored enterprises, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities In addition to the amounts reported in the securitization activity tables above, the Firm, in the normal course of business, sells originated and purchased mortgage loans and certain originated excess MSRs on a nonrecourse basis, predominantly to U.S. government-sponsored enterprises The Firm also sells loans into securitization transactions pursuant to Ginnie Mae guidelines; these loans are typically insured or guaranteed by another U.S. government agency. The Firm does not consolidate the securitization vehicles underlying these transactions as it is not the primary beneficiary. For a limited number of loan sales, the Firm is obligated to share a portion of the credit risk associated with the sold loans with the purchaser. Refer to Note 20 of this Form 10-Q, and Note 27 of JPMorgan Chase’s 2017 Annual Report for additional information a The Firm also sells loans into securitization transactions pursuant to Ginnie Mae guidelines; these loans are typically insured or guaranteed by another U.S. government agency. The Firm does not consolidate the securitization vehicles underlying these transactions as it is not the primary beneficiary. For a limited number of loan sales, the Firm is obligated to share a portion of the credit risk associated with the sold loans with the purchaser. Refer to Note 20 of this Form 10-Q, and Note 27 of JPMorgan Chase’s 2017 Annual Report for additional information about the Firm’s loan sales- and securitization-related indemnifications. Refer to Note 14 for additional information about the impact of the Firm ’s sale of certain excess MSRs. (“U.S. GSEs”). These loans and excess MSRs are sold primarily for the purpose of securitization by the U.S. GSEs, who provide certain guarantee provisions (e.g., credit enhancement of the loans). The Firm also sells loans into securitization transactions pursuant to Ginnie Mae guidelines; these loans are typically insured or guaranteed by another U.S. government agency. The Firm does not consolidate the securitization vehicles underlying these transactions as it is not the primary beneficiary. For a limited number of loan sales, the Firm is obligated to share a portion of the credit risk associated with the sold loans with the purchaser. Refer to Note 20 of this Form 10-Q, and Note 27 of JPMorgan Chase’s 2017 Annual Report for additional information bout the Firm’s loan sales- and securitization-related indemnifications. Refer to Note 14 for additional information about the impact of the Firm ’s sale of certain excess MSRs. about the Firm’s loan sales- and securitization-related indemnifications. Refer to Note 14 for additional information about the impact of the Firm ’s sale of certain excess MSRs. The following table summarizes the activities related to loans sold to the U.S. GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Carrying value of loans sold $ 11,968 $ 15,402 $ 28,804 $ 44,282 Proceeds received from loan sales as cash 1 104 1 117 Proceeds from loan sales as securities (a) 11,713 15,093 28,291 43,682 Total proceeds received from loan sales (b) $ 11,714 $ 15,197 $ 28,292 $ 43,799 Gains on loan sales (c)(d) $ 9 $ 41 $ 32 $ 114 (a) Predominantly includes securities from U.S. GSEs and Ginnie Mae that are generally sold shortly after receipt. (b) Excludes the value of MSRs retained upon the sale of loans. (c) Gains on loan sales include the value of MSRs. (d) The carrying value of the loans accounted for at fair value approximated the proceeds received upon loan sale. Options to repurchase delinquent loans In addition to the Firm’s obligation to repurchase certain loans due to material breaches of representations and warranties as discussed in Note 20 , the Firm also has the option to repurchase delinquent loans that it services for Ginnie Mae loan pools, as well as for other U.S. government agencies under certain arrangements . The Firm typically elects to repurchase delinquent loans from Ginnie Mae loan pools as it continues to service them and/or manage the foreclosure process in accordance with the applicable requirements, and such loans continue to be insured or guaranteed. When the Firm’s repurchase option becomes exercisable, such loans must be reported on the Consolidated balance sheets as a loan with a corresponding liability. For additional information, refer to Note 11 . The following table presents loans the Firm repurchased or had an option to repurchase, real estate owned, and foreclosed government-guaranteed residential mortgage loans recognized on the Firm’s Consolidated balance sheets as of September 30, 2018 and December 31, 2017 . Substantially all of these loans and real estate are insured or guaranteed by U.S. government agencies. (in millions) Sep 30, Dec 31, Loans repurchased or option to repurchase (a) $ 7,207 $ 8,629 Real estate owned 78 95 Foreclosed government-guaranteed residential mortgage loans (b) 404 527 (a) Predominantly all of these amounts relate to loans that have been repurchased from Ginnie Mae loan pools. (b) Relates to voluntary repurchases of loans, which are included in accrued interest and accounts receivable. Loan delinquencies and liquidation losses The table below includes information about components of nonconsolidated securitized financial assets held in Firm -sponsored private-label securitization entities, in which the Firm has continuing involvement, and delinquencies as of September 30, 2018 , and December 31, 2017 . Net liquidation losses (a) Securitized assets 90 days past due Three months ended September 30, Nine months ended September 30, (in millions) Sep 30, Dec 31, Sep 30, Dec 31, 2018 2017 2018 2017 Securitized loans Residential mortgage: Prime / Alt-A & option ARMs $ 51,914 $ 52,280 $ 3,612 $ 4,870 $ 182 $ 184 $ 453 $ 622 Subprime 15,950 17,612 2,637 3,276 155 153 (307 ) 529 Commercial and other 77,494 63,411 526 957 71 2 119 59 Total loans securitized $ 145,358 $ 133,303 $ 6,775 $ 9,103 $ 408 $ 339 $ 265 $ 1,210 (a) |
Goodwill and Mortgage Servicing
Goodwill and Mortgage Servicing Rights | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Mortgage Servicing Rights | Goodwill and Mortgage servicing rights For a discussion of the accounting policies related to goodwill and mortgage servicing rights, refer to Note 15 of JPMorgan Chase ’s 2017 Annual Report . Goodwill The following table presents goodwill attributed to the business segments. (in millions) September 30, December 31, Consumer & Community Banking $ 30,995 $ 31,013 Corporate & Investment Bank 6,771 6,776 Commercial Banking 2,860 2,860 Asset & Wealth Management 6,857 6,858 Total goodwill $ 47,483 $ 47,507 The following table presents changes in the carrying amount of goodwill. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Balance at beginning of period $ 47,488 $ 47,300 $ 47,507 $ 47,288 Changes during the period from: Other (a) (5 ) 9 (24 ) 21 Balance at September 30, $ 47,483 $ 47,309 $ 47,483 $ 47,309 (a) Includes foreign currency remeasurement and other adjustments. Goodwill Impairment testing For a further description of the Firm’s goodwill impairment testing, including the primary method used to estimate the fair value of the reporting units, and the assumptions used in the goodwill impairment test, refer to Impairment testing on pages 244–245 of JPMorgan Chase ’s 2017 Annual Report . Goodwill was not impaired at September 30, 2018 , or December 31, 2017 , nor was goodwill written off due to impairment during the nine months ended September 30, 2018 or 2017 . Declines in business performance, increases in credit losses, increases in equity capital requirements, as well as deterioration in economic or market conditions, adverse regulatory or legislative changes or increases in the estimated market cost of equity, could cause the estimated fair values of the Firm’s reporting units or their associated goodwill to decline in the future, which could result in a material impairment charge to earnings in a future period related to some portion of the associated goodwill. Mortgage servicing rights MSRs represent the fair value of expected future cash flows for performing servicing activities for others. The fair value considers estimated future servicing fees and ancillary revenue, offset by estimated costs to service the loans, and generally declines over time as net servicing cash flows are received, effectively amortizing the MSR asset against contractual servicing and ancillary fee income. MSRs are either purchased from third parties or recognized upon sale or securitization of mortgage loans if servicing is retained. For a further description of the MSR asset, interest rate risk management, and the valuation of MSRs, refer to Note s 2 and 15 of JPMorgan Chase ’s 2017 Annual Report . The following table summarizes MSR activity for the three and nine months ended September 30, 2018 and 2017 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2018 2017 2018 2017 Fair value at beginning of period $ 6,241 $ 5,753 $ 6,030 $ 6,096 MSR activity: Originations of MSRs 278 253 611 624 Purchase of MSRs 13 — 159 — Disposition of MSRs (a) (2 ) (2 ) (401 ) (140 ) Net additions/(dispositions) 289 251 369 484 Changes due to collection/realization of expected cash flows (195 ) (200 ) (542 ) (619 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (b) 150 (67 ) 635 (188 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) 14 (116 ) 14 (102 ) Discount rates — — 24 (19 ) Prepayment model changes and other (c) (66 ) 117 (97 ) 86 Total changes in valuation due to other inputs and assumptions (52 ) 1 (59 ) (35 ) Total changes in valuation due to inputs and assumptions 98 (66 ) 576 (223 ) Fair value at September 30, $ 6,433 $ 5,738 $ 6,433 $ 5,738 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ 98 $ (66 ) $ 576 $ (223 ) Contractual service fees, late fees and other ancillary fees included in income 428 463 1,339 1,427 Third-party mortgage loans serviced at September 30, (in billions) 528 558 528 558 Net servicer advances at September 30, (in billions) (d) 3.1 3.9 3.1 3.9 (a) Includes excess MSRs transferred to agency-sponsored trusts in exchange for stripped mortgage backed securities (“SMBS”). In each transaction, a portion of the SMBS was acquired by third parties at the transaction date; the Firm acquired the remaining balance of those SMBS as trading securities. (b) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (c) Represents changes in prepayments other than those attributable to changes in market interest rates. (d) Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these servicer advances is minimal because reimbursement of the advances is typically senior to all cash payments to investors. In addition, the Firm maintains the right to stop payment to investors if the collateral is insufficient to cover the advance. However, certain of these servicer advances may not be recoverable if they were not made in accordance with applicable rules and agreements. The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the three and nine months ended September 30, 2018 and 2017 . Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 CCB mortgage fees and related income Net production revenue $ 108 $ 158 $ 296 $ 451 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 435 493 1,389 1,533 Changes in MSR asset fair value due to collection/realization of expected cash flows (195 ) (200 ) (542 ) (617 ) Total operating revenue 240 293 847 916 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) 150 (67 ) 636 (188 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (52 ) 1 (59 ) (35 ) Change in derivative fair value and other (186 ) 43 (671 ) 91 Total risk management (88 ) (23 ) (94 ) (132 ) Total net mortgage servicing revenue 152 270 753 784 Total CCB mortgage fees and related income 260 428 1,049 1,235 All other 2 1 2 4 Mortgage fees and related income $ 262 $ 429 $ 1,051 $ 1,239 (a) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (b) Represents the aggregate impact of changes in model inputs and assumptions such as projected cash flows (e.g., cost to service), discount rates and changes in prepayments other than those attributable to changes in market interest rates (e.g., changes in prepayments due to changes in home prices). The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at September 30, 2018 , and December 31, 2017 , and outlines hypothetical sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. (in millions, except rates) Sep 30, Dec 31, Weighted-average prepayment speed assumption (“CPR”) 8.40 % 9.35 % Impact on fair value of 10% adverse change $ (194 ) $ (221 ) Impact on fair value of 20% adverse change (376 ) (427 ) Weighted-average option adjusted spread 8.65 % 9.04 % Impact on fair value of a 100 basis point adverse change $ (251 ) $ (250 ) Impact on fair value of a 200 basis point adverse change (483 ) (481 ) CPR: Constant prepayment rate. Changes in fair value based on variation in assumptions generally cannot be easily extrapolated, because the relationship of the change in the assumptions to the change in fair value are often highly interrelated and may not be linear. In this table, the effect that a change in a particular assumption may have on the fair value is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which would either magnify or counteract the impact of the initial change. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2018 | |
Deposits [Abstract] | |
Deposits | Deposits For further information on deposits, refer to Note 17 of JPMorgan Chase’s 2017 Annual Report. At September 30, 2018 , and December 31, 2017 , noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, December 31, 2017 U.S. offices Noninterest-bearing $ 374,603 $ 393,645 Interest-bearing (included $16,526 and $14,947 at fair value) (a) 814,988 793,618 Total deposits in U.S. offices 1,189,591 1,187,263 Non-U.S. offices Noninterest-bearing 19,127 15,576 Interest-bearing (included $3,974 and $6,374 at fair value) (a) 250,044 241,143 Total deposits in non-U.S. offices 269,171 256,719 Total deposits $ 1,458,762 $ 1,443,982 (a) Includes structured notes classified as deposits for which the fair value option has been elected. For a further discussion, refer to Note 3 of JPMorgan Chase’s 2017 Annual Report |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Earnings per share For a discussion of the computation of basic and diluted earnings per share (“EPS”), refer to Note 22 of JPMorgan Chase ’s 2017 Annual Report . The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2018 and 2017 . (in millions, except per share amounts) Three months ended Nine months ended 2018 2017 2018 2017 Basic earnings per share Net income $ 8,380 $ 6,732 $ 25,408 $ 20,209 Less: Preferred stock dividends 379 412 1,167 1,235 Net income applicable to common equity 8,001 6,320 24,241 18,974 Less: Dividends and undistributed earnings allocated to participating securities 53 58 174 188 Net income applicable to common stockholders $ 7,948 $ 6,262 $ 24,067 $ 18,786 Total weighted-average basic shares outstanding 3,376.1 3,534.7 3,416.5 3,570.9 Net income per share $ 2.35 $ 1.77 $ 7.04 $ 5.26 Diluted earnings per share Net income applicable to common stockholders $ 7,948 $ 6,262 $ 24,067 $ 18,786 Total weighted-average basic shares outstanding 3,376.1 3,534.7 3,416.5 3,570.9 Add: Employee stock options, SARs, warrants and unvested PSUs 18.2 24.9 19.7 26.1 Total weighted-average diluted shares outstanding 3,394.3 3,559.6 3,436.2 3,597.0 Net income per share $ 2.34 $ 1.76 $ 7.00 $ 5.22 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income/(Loss) | Accumulated other comprehensive income/(loss) AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans. As of or for the three months ended Unrealized Translation adjustments, net of hedges Fair value hedges (b) Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2018 $ 1,599 $ (632 ) $ (162 ) $ (147 ) $ (1,876 ) $ 80 $ (1,138 ) Net change (819 ) (31 ) 34 (88 ) 19 (402 ) (1,287 ) Balance at September 30, 2018 $ 780 $ (663 ) $ (128 ) $ (235 ) $ (1,857 ) $ (322 ) $ (2,425 ) As of or for the three months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2017 $ 2,219 $ (157 ) NA $ 44 $ (2,255 ) $ (243 ) $ (392 ) Net change 147 — NA 26 22 (112 ) 83 Balance at September 30, 2017 $ 2,366 $ (157 ) NA $ 70 $ (2,233 ) $ (355 ) $ (309 ) As of or for the nine months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2018 $ 2,164 $ (470 ) $ — $ 76 $ (1,521 ) $ (368 ) $ (119 ) Cumulative effect of changes in accounting principles (a): Premium amortization on purchased callable debt securities 261 — — — — — 261 Hedge accounting 169 — (54 ) — — — 115 Reclassification of certain tax effects from AOCI 466 (277 ) — 16 (414 ) (79 ) (288 ) Net change (2,280 ) 84 (74 ) (327 ) 78 125 (2,394 ) Balance at September 30, 2018 $ 780 $ (663 ) $ (128 ) $ (235 ) $ (1,857 ) $ (322 ) $ (2,425 ) As of or for the nine months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2017 $ 1,524 $ (164 ) NA $ (100 ) $ (2,259 ) $ (176 ) $ (1,175 ) Net change 842 7 NA 170 26 (179 ) 866 Balance at September 30, 2017 $ 2,366 $ (157 ) NA $ 70 $ (2,233 ) $ (355 ) $ (309 ) (a) Represents the adjustment to AOCI as a result of the new accounting standards adopted in the first quarter of 2018. (b) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swap. The following table presents the pre-tax and after-tax changes in the components of OCI. 2018 2017 Three months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (1,117 ) $ 262 $ (855 ) $ 232 $ (86 ) $ 146 Reclassification adjustment for realized (gains)/losses included in net income (a) 46 (10 ) 36 1 — 1 Net change (1,071 ) 252 (819 ) 233 (86 ) 147 Translation adjustments: Translation (314 ) 45 (269 ) 286 (106 ) 180 Hedges 311 (73 ) 238 (286 ) 106 (180 ) Net change (3 ) (28 ) (31 ) — — — Fair value hedges, net change (b) : 45 (11 ) 34 NA NA NA Cash flow hedges: Net unrealized gains/(losses) arising during the period (122 ) 27 (95 ) 29 (11 ) 18 Reclassification adjustment for realized (gains)/losses included in net income (c) 9 (2 ) 7 10 (2 ) 8 Net change (113 ) 25 (88 ) 39 (13 ) 26 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — — — — Reclassification adjustments included in net income (d) : Amortization of net loss 26 (6 ) 20 63 (23 ) 40 Prior service costs/(credits) (7 ) 2 (5 ) (9 ) 3 (6 ) Foreign exchange and other 7 (3 ) 4 (19 ) 7 (12 ) Net change 26 (7 ) 19 35 (13 ) 22 DVA on fair value option elected liabilities, net change: (527 ) 125 (402 ) (178 ) 66 (112 ) Total other comprehensive income/(loss) $ (1,643 ) $ 356 $ (1,287 ) $ 129 $ (46 ) $ 83 2018 2017 Nine months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (3,351 ) $ 787 $ (2,564 ) $ 1,294 $ (476 ) $ 818 Reclassification adjustment for realized (gains)/losses included in net income (a) 371 (87 ) 284 38 (14 ) 24 Net change (2,980 ) 700 (2,280 ) 1,332 (490 ) 842 Translation adjustments (e): Translation (981 ) 188 (793 ) 1,185 (448 ) 737 Hedges 1,149 (272 ) 877 (1,161 ) 431 (730 ) Net change 168 (84 ) 84 24 (17 ) 7 Fair value hedges, net change (b) : (96 ) 22 (74 ) NA NA NA Cash flow hedges: Net unrealized gains/(losses) arising during the period (365 ) 85 (280 ) 111 (42 ) 69 Reclassification adjustment for realized (gains)/losses included in net income (c) (62 ) 15 (47 ) 160 (59 ) 101 Net change (427 ) 100 (327 ) 271 (101 ) 170 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 25 (6 ) 19 (52 ) 19 (33 ) Reclassification adjustments included in net income (d) : Amortization of net loss 78 (18 ) 60 187 (69 ) 118 Prior service costs/(credits) (19 ) 5 (14 ) (27 ) 10 (17 ) Settlement (gain)/loss — — — (3 ) 1 (2 ) Foreign exchange and other 19 (6 ) 13 (51 ) 11 (40 ) Net change 103 (25 ) 78 54 (28 ) 26 DVA on fair value option elected liabilities, net change: $ 163 $ (38 ) $ 125 $ (283 ) $ 104 $ (179 ) Total other comprehensive income/(loss) $ (3,069 ) $ 675 $ (2,394 ) $ 1,398 $ (532 ) $ 866 (a) The pre-tax amount is reported in investment securities losses in the Consolidated statements of income. (b) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swap. (c) The pre-tax amounts are predominantly recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income. (d) The pre-tax amount is reported in other expense in the Consolidated statements of income. (e) Reclassifications of pre-tax realized gains/(losses) on translation adjustments and related hedges are reported in other income/expense in the Consolidated statements of income. During the nine months ended September 30, 2018 , the Firm reclassified a net pre-tax loss of $174 million to other expense related to the liquidation of a legal entity, $23 million related to net investment hedge losses and $151 million related to cumulative translation adjustments. During the nine months ended September 30, 2017 , the Firm reclassified a net pre-tax loss of $25 million to other expense related to the liquidation of a legal entity, $47 million related to net investment hedge gains and $72 million |
Restricted Cash and Other Restr
Restricted Cash and Other Restricted Assets | 9 Months Ended |
Sep. 30, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Restricted Cash and Other Restricted Assets | Restricted cash and other restricted assets For a detailed discussion of the Firm’s restricted cash and other restricted assets, refer to Note 25 of JPMorgan Chase’s 2017 Annual Report. As a result of the adoption of the restricted cash accounting guidance in the first quarter of 2018, restricted cash is included with unrestricted cash when reconciling the beginning and ending cash balances on the Consolidated statements of cash flows. The following table presents the components of the Firm’s restricted cash: (in billions) September 30, December 31, 2017 Cash reserves – Federal Reserve Banks $ 23.6 $ 25.7 Segregated for the benefit of securities and futures brokerage customers 15.3 16.8 Cash reserves at non-U.S. central banks and held for other general purposes 3.3 3.3 Total restricted cash (a) $ 42.2 $ 45.8 (a) Comprises $40.7 billion and $44.8 billion in deposits with banks, and $1.5 billion and $1.0 billion in cash and due from banks on the Consolidated balance sheets as of September 30, 2018 and December 31, 2017 , respectively. Also, as of September 30, 2018 and December 31, 2017 , the Firm had: • Cash and securities pledged with clearing organizations for the benefit of customers of $18.8 billion and $18.0 billion , respectively. • Securities with a fair value of $2.2 billion and $3.5 billion |
Regulatory Capital
Regulatory Capital | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | Regulatory capital For a detailed discussion on regulatory capital, refer to Note 26 of JPMorgan Chase’s 2017 Annual Report. The Federal Reserve establishes capital requirements, including well-capitalized standards, for the consolidated financial holding company. The Office of the Comptroller of the Currency (“OCC”) establishes similar minimum capital requirements and standards for the Firm’s insured depository institutions (“IDI”), including JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios for CET1, Tier 1, Total, Tier 1 leverage and the SLR. Failure to meet these minimum requirements could cause the Federal Reserve to take action. IDI subsidiaries are also subject to these capital requirements by their respective primary regulators. The following table represents the minimum and well-capitalized ratios to which the Firm and its IDI subsidiaries were subject as of September 30, 2018 . Minimum capital ratios Well-capitalized ratios BHC (a)(e)(f) IDI (b)(e)(f) BHC (c) IDI (d) Capital ratios CET1 9.0 % 6.375 % — % 6.5 % Tier 1 10.5 7.875 6.0 8.0 Total 12.5 9.875 10.0 10.0 Tier 1 leverage 4.0 4.0 5.0 5.0 SLR 5.0 6.0 — 6.0 Note: The table above is as defined by the regulations issued by the Federal Reserve, OCC and FDIC and to which the Firm and its IDI subsidiaries are subject. (a) Represents the Transitional minimum capital ratios applicable to the Firm under Basel III at September 30, 2018 . At September 30, 2018 , the CET1 minimum capital ratio includes 1.875% resulting from the phase in of the Firm’s 2.5% capital conservation buffer, and 2.625% resulting from the phase in of the Firm’s 3.5% GSIB surcharge. (b) Represents requirements for JPMorgan Chase ’s IDI subsidiaries. The CET1 minimum capital ratio includes 1.875% resulting from the phase in of the 2.5% capital conservation buffer that is applicable to the IDI subsidiaries. The IDI subsidiaries are not subject to the GSIB surcharge. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. (d) Represents requirements for IDI subsidiaries pursuant to regulations issued under the FDIC Improvement Act. (e) For the period ended December 31, 2017 , the CET1, Tier 1, Total and Tier 1 leverage minimum capital ratios applicable to the Firm were 7.5% , 9.0% , 11.0% and 4.0% , and the CET1, Tier 1, Total and Tier 1 leverage minimum capital ratios applicable to the Firm’s IDI subsidiaries were 5.75% , 7.25% , 9.25% and 4.0% , respectively. (f) Represents minimum SLR requirement of 3.0% , as well as, supplementary leverage buffers of 2.0% and 3.0% for BHC and IDI, respectively. The following tables present the risk-based and leverage-based capital metrics for JPMorgan Chase and its significant IDI subsidiaries under both the Basel III Standardized and Basel III Advanced Approaches. As of September 30, 2018 and December 31, 2017 , JPMorgan Chase and all of its IDI subsidiaries were well-capitalized and met all capital requirements to which each was subject. September 30, 2018 Basel III Standardized Transitional Basel III Advanced Transitional JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Regulatory capital CET1 capital $ 184,972 $ 188,608 $ 23,136 $ 184,972 $ 188,608 $ 23,136 Tier 1 capital 210,589 188,608 23,136 210,589 188,608 23,136 Total capital 238,303 199,634 28,026 228,574 193,613 26,636 Assets Risk-weighted 1,545,326 1,362,039 109,138 1,438,529 1,211,473 182,177 Adjusted average (a) 2,552,612 2,141,332 116,411 2,552,612 2,141,332 116,411 Capital ratios (b) CET1 12.0 % 13.8 % 21.2 % 12.9 % 15.6 % 12.7 % Tier 1 13.6 13.8 21.2 14.6 15.6 12.7 Total 15.4 14.7 25.7 15.9 16.0 14.6 Tier 1 leverage (c) 8.2 8.8 19.9 8.2 8.8 19.9 December 31, 2017 Basel III Standardized Transitional Basel III Advanced Transitional JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Regulatory capital CET1 capital $ 183,300 $ 184,375 $ 21,600 $ 183,300 $ 184,375 $ 21,600 Tier 1 capital 208,644 184,375 21,600 208,644 184,375 21,600 Total capital 238,395 195,839 27,691 227,933 189,510 (d) 26,250 Assets Risk-weighted 1,499,506 1,338,970 (d) 113,108 1,435,825 1,241,916 (d) 190,523 Adjusted average (a) 2,514,270 2,116,031 126,517 2,514,270 2,116,031 126,517 Capital ratios (b) CET1 12.2 % 13.8 % 19.1 % 12.8 % 14.8 % (d) 11.3 % Tier 1 13.9 13.8 19.1 14.5 14.8 (d) 11.3 Total 15.9 14.6 (d) 24.5 15.9 15.3 (d) 13.8 Tier 1 leverage (c) 8.3 8.7 17.1 8.3 8.7 17.1 (a) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill and other intangible assets. (b) For each of the risk-based capital ratios, the capital adequacy of the Firm and its IDI subsidiaries is evaluated against the lower of the two ratios as calculated under Basel III approaches (Standardized or Advanced). (c) The Tier 1 leverage ratio is not a risk-based measure of capital. (d) The prior period amounts have been revised to conform with the current period presentation. September 30, 2018 December 31, 2017 Basel III Advanced Fully Phased-In Basel III Advanced Transitional (in millions, except ratios) JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Total leverage exposure (a) $ 3,235,518 $ 2,765,905 $ 175,153 $ 3,204,463 $ 2,775,041 $ 182,803 SLR (a) 6.5 % 6.8 % 13.2 % 6.5 % 6.6 % 11.8 % (a) |
Off-balance Sheet Lending-relat
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments | 9 Months Ended |
Sep. 30, 2018 | |
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract] | |
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments | Off–balance sheet lending-related financial instruments, guarantees, and other commitments JPMorgan Chase provides lending-related financial instruments (e.g., commitments and guarantees) to address the financing needs of its customers and clients. The contractual amount of these financial instruments represents the maximum possible credit risk to the Firm should the customer or client draw upon the commitment or the Firm be required to fulfill its obligation under the guarantee, and should the customer or client subsequently fail to perform according to the terms of the contract. Most of these commitments and guarantees are refinanced, extended, cancelled, or expire without being drawn or a default occurring. As a result, the total contractual amount of these instruments is not, in the Firm’s view, representative of its expected future credit exposure or funding requirements. For a further discussion of lending-related commitments and guarantees, and the Firm’s related accounting policies, refer to Note 27 of JPMorgan Chase ’s 2017 Annual Report . To provide for probable credit losses inherent in wholesale and certain consumer lending-related commitments, an allowance for credit losses on lending-related commitments is maintained. Refer to Note 12 for further information regarding the allowance for credit losses on lending-related commitments. The following table summarizes the contractual amounts and carrying values of off-balance sheet lending-related financial instruments, guarantees and other commitments at September 30, 2018 , and December 31, 2017 . The amounts in the table below for credit card and home equity lending-related commitments represent the total available credit for these products. The Firm has not experienced, and does not anticipate, that all available lines of credit for these products will be utilized at the same time. The Firm can reduce or cancel credit card lines of credit by providing the borrower notice or, in some cases as permitted by law, without notice. In addition, the Firm typically closes credit card lines when the borrower is 60 days or more past due. The Firm may reduce or close HELOCs when there are significant decreases in the value of the underlying property, or when there has been a demonstrable decline in the creditworthiness of the borrower. Off–balance sheet lending-related financial instruments, guarantees and other commitments Contractual amount Carrying value (g) September 30, 2018 Dec 31, Sep 30, Dec 31, By remaining maturity Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity $ 916 $ 1,110 $ 1,693 $ 16,942 $ 20,661 $ 20,360 $ 12 $ 12 Residential mortgage (a) 6,955 — — 12 6,967 5,736 — — Auto 7,911 1,430 200 89 9,630 9,255 2 2 Consumer & Business Banking 12,127 647 111 487 13,372 13,202 19 19 Total consumer, excluding credit card 27,909 3,187 2,004 17,530 50,630 48,553 33 33 Credit card 600,728 — — — 600,728 572,831 — — Total consumer (b) 628,637 3,187 2,004 17,530 651,358 621,384 33 33 Wholesale: Other unfunded commitments to extend credit (c) 74,427 128,149 148,414 10,995 361,985 331,160 886 840 Standby letters of credit and other financial guarantees (c) 14,561 9,810 5,038 2,339 31,748 35,226 585 636 Other letters of credit (c) 3,344 137 102 — 3,583 3,712 7 3 Total wholesale (d) 92,332 138,096 153,554 13,334 397,316 370,098 1,478 1,479 Total lending-related $ 720,969 $ 141,283 $ 155,558 $ 30,864 $ 1,048,674 $ 991,482 $ 1,511 $ 1,512 Other guarantees and commitments Securities lending indemnification agreements and guarantees (e) $ 202,622 $ — $ — $ — $ 202,622 $ 179,490 $ — $ — Derivatives qualifying as guarantees 2,800 361 12,384 40,349 55,894 57,174 370 304 Unsettled reverse repurchase and securities borrowing agreements 119,762 — — — 119,762 76,859 — — Unsettled repurchase and securities lending agreements 92,115 — — — 92,115 44,205 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 89 111 Loans sold with recourse NA NA NA NA 1,066 1,169 33 38 Other guarantees and commitments (f) 10,091 1,443 384 2,641 14,559 11,867 (53 ) (76 ) (a) Includes certain commitments to purchase loans from correspondents. (b) Predominantly all consumer lending-related commitments are in the U.S. (c) At September 30, 2018 , and December 31, 2017 , reflected the contractual amount net of risk participations totaling $287 million and $334 million respectively, for other unfunded commitments to extend credit; $9.9 billion and $10.4 billion , respectively, for standby letters of credit and other financial guarantees; and $469 million and $405 million , respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. (d) At both September 30, 2018 , and December 31, 2017 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 76% . (e) At September 30, 2018 , and December 31, 2017 , collateral held by the Firm in support of securities lending indemnification agreements was $214.3 billion and $188.7 billion , respectively. Securities lending collateral primarily consists of cash and securities issued by governments that are members of G7 and U.S. government agencies. (f) At September 30, 2018 , and December 31, 2017 , primarily includes letters of credit hedged by derivative transactions and managed on a market risk basis, unfunded commitments related to institutional lending and commitments associated with the Firm’s membership in certain clearing houses. Additionally, includes unfunded commitments predominantly related to certain tax-oriented equity investments. (g) For lending-related products, the carrying value represents the allowance for lending-related commitments and the guarantee liability; for derivative-related products, the carrying value represents the fair value. Other unfunded commitments to extend credit Other unfunded commitments to extend credit generally consist of commitments for working capital and general corporate purposes, extensions of credit to support commercial paper facilities and bond financings in the event that those obligations cannot be remarketed to new investors, as well as committed liquidity facilities to clearing organizations. The Firm also issues commitments under multipurpose facilities which could be drawn upon in several forms, including the issuance of a standby letter of credit. The Firm acts as a settlement and custody bank in the U.S. tri-party repurchase transaction market. In its role as settlement and custody bank, the Firm in part is exposed to the intra-day credit risk of its cash borrower clients, usually broker-dealers. This exposure arises under secured clearance advance facilities that the Firm extended to its clients (i.e., cash borrowers); these facilities contractually limit the Firm’s intra-day credit risk to the facility amount and must be repaid by the end of the day. As of December 31, 2017 the secured clearance advance facility maximum outstanding commitment amount was $1.5 billion . As of September 30, 2018 the Firm no longer offers such arrangements to its clients. Standby letters of credit and other financial guarantees Standby letters of credit and other financial guarantees are conditional lending commitments issued by the Firm to guarantee the performance of a client or customer to a third party under certain arrangements, such as commercial paper facilities, bond financings, acquisition financings, trade and similar transactions. The following table summarizes the standby letters of credit and other letters of credit arrangements as of September 30, 2018 , and December 31, 2017 . Standby letters of credit, other financial guarantees and other letters of credit September 30, 2018 December 31, 2017 (in millions) Standby letters of Other letters of credit Standby letters of Other letters of credit Investment-grade (a) $ 25,038 $ 2,507 $ 28,492 $ 2,646 Noninvestment-grade (a) 6,710 1,076 6,734 1,066 Total contractual amount $ 31,748 $ 3,583 $ 35,226 $ 3,712 Allowance for lending-related commitments $ 171 $ 7 $ 192 $ 3 Guarantee liability 414 — 444 — Total carrying value $ 585 $ 7 $ 636 $ 3 Commitments with collateral $ 16,074 $ 559 $ 17,421 $ 878 (a) The ratings scale is based on the Firm’s internal ratings which generally correspond to ratings as defined by S&P and Moody’s. Derivatives qualifying as guarantees The Firm transacts certain derivative contracts that have the characteristics of a guarantee under U.S. GAAP. For further information on these derivatives, refer to Note 27 of JPMorgan Chase’s 2017 Annual Report. The following table summarizes the derivatives qualifying as guarantees as of September 30, 2018 , and December 31, 2017 . (in millions) September 30, 2018 December 31, 2017 Notional amounts Derivative guarantees $ 55,894 $ 57,174 Stable value contracts with contractually limited exposure 28,574 29,104 Maximum exposure of stable value contracts with contractually limited exposure 2,954 3,053 Fair value Derivative payables 370 304 Derivative receivables — — In addition to derivative contracts that meet the characteristics of a guarantee, the Firm is both a purchaser and seller of credit protection in the credit derivatives market. For a further discussion of credit derivatives, refer to Note 4 . Loan sales- and securitization-related indemnifications In connection with the Firm’s mortgage loan sale and securitization activities with GSEs and in certain private label transactions, the Firm has made representations and warranties that the loans sold meet certain requirements, and that may require the Firm to repurchase mortgage loans and/or indemnify the loan purchaser if such representations and warranties are breached by the Firm. Further, although the Firm’s securitizations are predominantly nonrecourse, the Firm does provide recourse servicing in certain limited cases where it agrees to share credit risk with the owner of the mortgage loans. For additional information, refer to Note 27 of JPMorgan Chase’s 2017 Annual Report. The liability related to repurchase demands associated with private label securitizations is separately evaluated by the Firm in establishing its litigation reserves. For additional information regarding litigation, refer to Note 22 of this Form 10-Q and Note 29 of JPMorgan Chase’s 2017 Annual Report. Guarantees of subsidiary |
Pledged Assets and Collateral
Pledged Assets and Collateral | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Pledged Assets and Collateral | Pledged assets and collateral For a discussion of the Firm’s pledged assets and collateral, refer to Note 28 of JPMorgan Chase’s 2017 Annual Report . Pledged assets The Firm may pledge financial assets that it owns to maintain potential borrowing capacity with central banks and for other purposes, including to secure borrowings and public deposits, collateralize repurchase and other securities financing agreements, and cover customer short sales . Certain of these pledged assets may be sold or repledged or otherwise used by the secured parties and are parenthetically identified on the Consolidated balance sheets as assets pledged. The following table presents the Firm ’s pledged assets. (in billions) September 30, 2018 December 31, 2017 Assets that may be sold or repledged or otherwise used by secured parties $ 130.7 $ 135.8 Assets that may not be sold or repledged or otherwise used by secured parties 76.2 68.1 Assets pledged at Federal Reserve banks and FHLBs 488.9 493.7 Total assets pledged $ 695.8 $ 697.6 Total assets pledged do not include assets of consolidated VIEs; these assets are used to settle the liabilities of those entities. Refer to Note 13 for additional information on assets and liabilities of consolidated VIEs. For additional information on the Firm ’s securities financing activities, refer to Note 10 . For additional information on the Firm ’s long-term debt, refer to Note 19 of JPMorgan Chase’s 2017 Annual Report. Collateral The Firm accepts financial assets as collateral that it is permitted to sell or repledge, deliver or otherwise use. This collateral is generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Collateral is generally used under repurchase agreements, securities lending agreements or to cover customer short sales and to collateralize deposits and derivative agreements. The following table presents the fair value of collateral accepted. (in billions) September 30, 2018 December 31, 2017 Collateral permitted to be sold or repledged, delivered, or otherwise used $ 1,114.1 $ 968.8 Collateral sold, repledged, delivered or otherwise used 927.5 771.0 Certain prior period amounts for both collateral and pledged assets (including the corresponding pledged assets parenthetical disclosure for trading assets and other assets on the Consolidated balance sheets) have been revised to conform with the current period presentation. |
Litigation
Litigation | 9 Months Ended |
Sep. 30, 2018 | |
Litigation [Abstract] | |
Litigation | Litigation Contingencies As of September 30, 2018 , the Firm and its subsidiaries and affiliates are defendants or putative defendants in numerous legal proceedings, including private, civil litigations and regulatory/government investigations. The litigations range from individual actions involving a single plaintiff to class action lawsuits with potentially millions of class members. Investigations involve both formal and informal proceedings, by both governmental agencies and self-regulatory organizations. These legal proceedings are at varying stages of adjudication, arbitration or investigation, and involve each of the Firm’s lines of business and geographies and a wide variety of claims (including common law tort and contract claims and statutory antitrust, securities and consumer protection claims), some of which present novel legal theories. The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $ 1.6 billion at September 30, 2018 . This estimated aggregate range of reasonably possible losses was based upon currently available information for those proceedings in which the Firm believes that an estimate of reasonably possible loss can be made. For certain matters, the Firm does not believe that such an estimate can be made, as of that date. The Firm’s estimate of the aggregate range of reasonably possible losses involves significant judgment, given: • the number, variety and varying stages of the proceedings, including the fact that many are in preliminary stages, • the existence in many such proceedings of multiple defendants, including the Firm, whose share of liability (if any) has yet to be determined, • the numerous yet-unresolved issues in many of the proceedings, including issues regarding class certification and the scope of many of the claims, and • the attendant uncertainty of the various potential outcomes of such proceedings, including where the Firm has made assumptions concerning future rulings by the court or other adjudicator, or about the behavior or incentives of adverse parties or regulatory authorities, and those assumptions prove to be incorrect. In addition, the outcome of a particular proceeding may be a result which the Firm did not take into account in its estimate because the Firm had deemed the likelihood of that outcome to be remote. Accordingly, the Firm’s estimate of the aggregate range of reasonably possible losses will change from time to time, and actual losses may vary significantly. Set forth below are descriptions of the Firm’s material legal proceedings. American Depositary Receipts Pre-Release Inquiry. The Staff of the U.S. Securities and Exchange Commission’s Enforcement Division has been investigating depositary banks and broker-dealers, including the Firm, in connection with activity relating to pre-released American Depositary Receipts. The Staff’s investigation focuses on the period of 2011 to 2015. The Firm continues to cooperate with this investigation and is currently engaged in settlement discussions. There is no assurance that such discussions will result in a settlement. Foreign Exchange Investigations and Litigation. The Firm previously reported settlements with certain government authorities relating to its foreign exchange (“FX”) sales and trading activities and controls related to those activities. FX-related investigations and inquiries by government authorities, including competition authorities, are ongoing, and the Firm is cooperating with and working to resolve those matters. In May 2015, the Firm pleaded guilty to a single violation of federal antitrust law. In January 2017, the Firm was sentenced, with judgment entered thereafter and a term of probation ending in January 2020. The Department of Labor has granted the Firm a five -year exemption of disqualification that allows the Firm and its affiliates to continue to rely on the Qualified Professional Asset Manager exemption under the Employee Retirement Income Security Act (“ERISA”) until January 2023. The Firm will need to reapply in due course for a further exemption to cover the remainder of the ten -year disqualification period. Separately, in February 2017 the South Africa Competition Commission referred its FX investigation of the Firm and other banks to the South Africa Competition Tribunal, which is conducting civil proceedings concerning that matter. The Firm is also one of a number of foreign exchange dealers named as defendants in a class action filed in the United States District Court for the Southern District of New York by U.S.-based plaintiffs, principally alleging violations of federal antitrust laws based on an alleged conspiracy to manipulate foreign exchange rates (the “U.S. class action”). In January 2015, the Firm entered into a settlement agreement in the U.S. class action. Following this settlement, a number of additional putative class actions were filed seeking damages for persons who transacted FX futures and options on futures (the “exchanged-based actions”), consumers who purchased foreign currencies at allegedly inflated rates (the “consumer action”), participants or beneficiaries of qualified ERISA plans (the “ERISA actions”), and purported indirect purchasers of FX instruments (the “indirect purchaser action”). Since then, the Firm has entered into a revised settlement agreement to resolve the consolidated U.S. class action, including the exchange-based actions. The Court granted final approval of that settlement agreement in August 2018. Certain members of the settlement class have filed requests to the Court to be excluded from the class. The District Court has dismissed one of the ERISA actions, and the United States Court of Appeals for the Second Circuit affirmed that dismissal in July 2018. The District Court has also dismissed the indirect purchaser action, and the plaintiffs have sought leave to replead their complaint. The consumer action and a second ERISA action remain pending in the District Court. General Motors Litigation. JPMorgan Chase Bank, N.A. participated in, and was the Administrative Agent on behalf of a syndicate of lenders on, a $1.5 billion syndicated Term Loan facility (“Term Loan”) for General Motors Corporation (“GM”). In July 2009, in connection with the GM bankruptcy proceedings, the Official Committee of Unsecured Creditors of Motors Liquidation Company (“Creditors Committee”) filed a lawsuit against JPMorgan Chase Bank, N.A., in its individual capacity and as Administrative Agent for other lenders on the Term Loan, seeking to hold the underlying lien invalid based on the filing of a UCC-3 termination statement relating to the Term Loan. In January 2015, following several court proceedings, the United States Court of Appeals for the Second Circuit reversed the Bankruptcy Court’s dismissal of the Creditors Committee’s claim and remanded the case to the Bankruptcy Court with instructions to enter partial summary judgment for the Creditors Committee as to the termination statement. The proceedings in the Bankruptcy Court continue with respect to, among other things, additional defenses asserted by JPMorgan Chase Bank, N.A. and the value of additional collateral on the Term Loan that was unaffected by the filing of the termination statement at issue. In connection with that additional collateral, a trial in the Bankruptcy Court regarding the value of certain representative assets concluded in May 2017, and a ruling was issued in September 2017. The Bankruptcy Court found that 33 of the 40 representative assets are fixtures and that these fixtures generally should be valued on a “going concern” basis. The Creditors Committee sought leave to appeal the Bankruptcy Court’s ruling that the fixtures should be valued on a “going concern” basis rather than on a liquidation basis, and in September 2018, the District Court denied that request. In addition, certain Term Loan lenders filed cross-claims in the Bankruptcy Court against JPMorgan Chase Bank, N.A. seeking indemnification and asserting various claims. The parties have engaged in mediation concerning, among other things, the characterization and value of the remaining additional collateral, in light of the Bankruptcy Court’s ruling regarding the representative assets, as well as other issues, including the cross-claims. In September 2018, the Bankruptcy Court approved a schedule for continued proceedings concerning issues that the parties have been unable to resolve through mediation. Interchange Litigation. A group of merchants and retail associations filed a series of class action complaints alleging that Visa and MasterCard, as well as certain banks, conspired to set the price of credit and debit card interchange fees and enacted respective rules in violation of antitrust laws. The parties settled the cases for a cash payment, a temporary reduction of credit card interchange, and modifications to certain credit card network rules. In December 2013, the District Court granted final approval of the settlement. A number of merchants appealed the settlement to the United States Court of Appeals for the Second Circuit, which, in June 2016, vacated the District Court’s certification of the class action and reversed the approval of the class settlement. In March 2017, the U.S. Supreme Court declined petitions seeking review of the decision of the Court of Appeals. The case was remanded to the District Court for further proceedings consistent with the appellate decision. The original class action was divided into two separate actions, one seeking primarily monetary relief and the other seeking primarily injunctive relief. In September 2018, the parties to the class action seeking monetary relief finalized an agreement which amends and supersedes the prior settlement agreement, and the plaintiffs filed a motion seeking preliminary approval of the modified settlement. This settlement provides for the defendants to contribute an additional $900 million to the approximately $5.3 billion currently held in escrow from the original settlement. Upon preliminary approval by the District Court, $600 million of that additional amount will be funded from the litigation escrow account established under the Visa defendants’ Retrospective Responsibility Plan, and $300 million will be paid by Mastercard and certain banks in accordance with an agreement among themselves regarding their respective shares. In June 2018, Visa deposited an additional $600 million into its litigation escrow account, which in turn led to a corresponding change in the conversion rate of Visa Class B to Class A shares. Of the Mastercard-related portion, the Firm’s share is approximately $36 million . The class action seeking primarily injunctive relief continues separately. In addition, certain merchants have filed individual actions raising similar allegations against Visa and Mastercard, as well as against the Firm and other banks, and those actions are proceeding. LIBOR and Other Benchmark Rate Investigations and Litigation. JPMorgan Chase has received subpoenas and requests for documents and, in some cases, interviews, from federal and state agencies and entities, including the U.S. Commodity Futures Trading Commission (“CFTC”) and various state attorneys general, as well as the European Commission (“EC”), the Swiss Competition Commission (“ComCo”) and other regulatory authorities and banking associations around the world relating primarily to the process by which interest rates were submitted to the British Bankers Association (“BBA”) in connection with the setting of the BBA’s London Interbank Offered Rate (“LIBOR”) for various currencies, principally in 2007 and 2008. Some of the inquiries also relate to similar processes by which information on rates was submitted to the European Banking Federation (“EBF”) in connection with the setting of the EBF’s Euro Interbank Offered Rates (“EURIBOR”) and to the Japanese Bankers’ Association for the setting of Tokyo Interbank Offered Rates (“TIBOR”) during similar time periods, as well as processes for the setting of U.S. dollar ISDAFIX rates and other reference rates in various parts of the world during similar time periods, including through 2012. The Firm continues to cooperate with these investigations to the extent that they are ongoing. The Firm has recently reached a resolution with the CFTC concerning the CFTC’s U.S. dollar ISDAFIX-related investigation. As previously reported, the Firm has resolved EC inquiries relating to Yen LIBOR and Swiss Franc LIBOR. In December 2016, the Firm resolved ComCo inquiries relating to these same rates. ComCo’s investigation relating to EURIBOR, to which the Firm and other banks are subject, continues. In December 2016, the EC issued a decision against the Firm and other banks finding an infringement of European antitrust rules relating to EURIBOR. The Firm has filed an appeal of that decision with the European General Court, and that appeal is pending. In addition, the Firm has been named as a defendant along with other banks in a series of individual and putative class actions filed in various United States District Courts. These actions have been filed, or consolidated for pre-trial purposes, in the United States District Court for the Southern District of New York. In these actions, plaintiffs make varying allegations that in various periods, starting in 2000 or later, defendants either individually or collectively manipulated various benchmark rates by submitting rates that were artificially low or high. Plaintiffs allege that they transacted in loans, derivatives or other financial instruments whose values are affected by changes in these rates and assert a variety of claims including antitrust claims seeking treble damages. These matters are in various stages of litigation. The Firm has agreed to settle putative class actions related to exchange-traded Eurodollar futures contracts, Swiss franc LIBOR, EURIBOR, the Singapore Interbank Offered Rate, the Singapore Swap Offer Rate and the Australian Bank Bill Swap Reference Rate. Those settlements are all subject to further documentation and court approval. In actions related to U.S. dollar LIBOR, the District Court dismissed certain claims, including antitrust claims brought by some plaintiffs whom the District Court found did not have standing to assert such claims, and permitted antitrust claims, claims under the Commodity Exchange Act and common law claims to proceed. The plaintiffs whose antitrust claims were dismissed for lack of standing have filed an appeal. In February 2018, as to those actions which the Firm has not agreed to settle, the District Court (i) granted class certification with respect to certain antitrust claims related to bonds and interest rate swaps sold directly by the defendants, (ii) denied class certification with respect to state common law claims brought by the holders of those bonds and swaps and (iii) denied class certification with respect to the putative class action related to LIBOR-based loans held by plaintiff lending institutions. The Firm is one of the defendants in a number of putative class actions alleging that defendant banks and ICAP conspired to manipulate the U.S. dollar ISDAFIX rates. In April 2016, the Firm settled this litigation, along with certain other banks. Those settlements have been preliminarily approved by the Court. Municipal Derivatives Litigation. Several civil actions were commenced in New York and Alabama courts against the Firm relating to certain Jefferson County, Alabama (the “County”) warrant underwritings and swap transactions. The claims in the civil actions generally alleged that the Firm made payments to certain third parties in exchange for being chosen to underwrite more than $3.0 billion in warrants issued by the County and to act as the counterparty for certain swaps executed by the County. The County filed for bankruptcy in November 2011. In June 2013, the County filed a Chapter 9 Plan of Adjustment, as amended (the “Plan of Adjustment”), which provided that all the above-described actions against the Firm would be released and dismissed with prejudice. In November 2013, the Bankruptcy Court confirmed the Plan of Adjustment, and in December 2013, certain sewer rate payers filed an appeal challenging the confirmation of the Plan of Adjustment. All conditions to the Plan of Adjustment’s effectiveness, including the dismissal of the actions against the Firm, were satisfied or waived and the transactions contemplated by the Plan of Adjustment occurred in December 2013. Accordingly, all the above-described actions against the Firm have been dismissed pursuant to the terms of the Plan of Adjustment. The appeal of the Bankruptcy Court’s order confirming the Plan of Adjustment was dismissed in August 2018, but appellants have filed a motion for rehearing which remains pending. Wendel. Since 2012, the French criminal authorities have been investigating a series of transactions entered into by senior managers of Wendel Investissement (“Wendel”) during the period from 2004 through 2007 to restructure their shareholdings in Wendel. JPMorgan Chase Bank, N.A., Paris branch provided financing for the transactions to a number of managers of Wendel in 2007. JPMorgan Chase has cooperated with the investigation. The investigating judges issued an ordonnance de renvoi in November 2016, referring JPMorgan Chase Bank, N.A. to the French tribunal correctionnel for alleged complicity in tax fraud. No date for trial has been set by the court. The Firm has been successful in legal challenges made to the Court of Cassation, France’s highest court, with respect to the criminal proceedings. In January 2018, the Paris Court of Appeal issued a decision cancelling the mise en examen of JPMorgan Chase Bank, N.A. The Court of Cassation ruled in September 2018 that a mise en examen is a prerequisite for an ordonnance de renvoi and remanded the case to the Court of Appeal to consider JPMorgan Chase Bank, N.A.’s application for the annulment of the ordonnance de renvoi referring JPMorgan Chase Bank, N.A. to the French tribunal correctionnel . Any further actions in the criminal proceedings are stayed pending the outcome of that application. In addition, a number of the managers have commenced civil proceedings against JPMorgan Chase Bank, N.A. The claims are separate, involve different allegations and are at various stages of proceedings. * * * In addition to the various legal proceedings discussed above, JPMorgan Chase and its subsidiaries are named as defendants or are otherwise involved in a substantial number of other legal proceedings. The Firm believes it has meritorious defenses to the claims asserted against it in its currently outstanding legal proceedings and it intends to defend itself vigorously. Additional legal proceedings may be initiated from time to time in the future. The Firm has established reserves for several hundred of its currently outstanding legal proceedings. In accordance with the provisions of U.S. GAAP for contingencies, the Firm accrues for a litigation-related liability when it is probable that such a liability has been incurred and the amount of the loss can be reasonably estimated. The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downward, as appropriate, based on management’s best judgment after consultation with counsel. The Firm’s legal expense/(benefit) was $20 million and $(107) million for the three months ended September 30, 2018 and 2017 , respectively, and $90 million and $172 million for the nine months ended September 30, 2018 and 2017 . There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future. |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segments | Business segments The Firm is managed on a line of business basis. There are four major reportable business segments - Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset & Wealth Management. In addition, there is a Corporate segment. The business segments are determined based on the products and services provided, or the type of customer served, and they reflect the manner in which financial information is currently evaluated by management. Results of these lines of business are presented on a managed basis. For a further discussion concerning JPMorgan Chase ’s business segments, refer to Segment results below, and Note 31 of JPMorgan Chase ’s 2017 Annual Report. Segment results The following table provides a summary of the Firm’s segment results as of or for the three and nine months ended September 30, 2018 and 2017, on a managed basis. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. This allows management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. Business segment capital allocation The amount of capital assigned to each business is referred to as equity. On at least an annual basis, the Firm assesses the level of capital required for each line of business as well as the assumptions and methodologies used to allocate capital. For additional information on business segment capital allocation, refer to Line of business equity on pages 88-89 of JPMorgan Chase’s 2017 Annual Report. Effective January 1, 2018, the Firm adopted several new accounting standards. Certain of the new accounting standards were applied retrospectively and, accordingly, prior period amounts were revised. For additional information, refer to Note 1 . Net income in 2018 for the business segments reflects the favorable impact of the reduction in the U.S. federal statutory income tax rate as a result of the TCJA. Segment results and reconciliation (a) As of or for the three months ended September 30, Consumer & Corporate & Commercial Banking Asset & Wealth Management 2018 2017 2018 2017 2018 2017 2018 2017 Noninterest revenue $ 4,176 $ 3,898 $ 6,505 $ 6,119 $ 576 $ 592 $ 2,680 $ 2,617 Net interest income 9,114 8,135 2,300 2,496 1,695 1,554 879 855 Total net revenue 13,290 12,033 8,805 8,615 2,271 2,146 3,559 3,472 Provision for credit losses 980 1,517 (42 ) (26 ) (15 ) (47 ) 23 8 Noninterest expense 6,982 6,495 5,175 4,793 853 800 2,585 2,408 Income before income tax expense 5,328 4,021 3,672 3,848 1,433 1,393 951 1,056 Income tax expense 1,242 1,468 1,046 1,302 344 512 227 382 Net income $ 4,086 $ 2,553 $ 2,626 $ 2,546 $ 1,089 $ 881 $ 724 $ 674 Average equity $ 51,000 $ 51,000 $ 70,000 $ 70,000 $ 20,000 $ 20,000 $ 9,000 $ 9,000 Total assets 560,432 537,459 928,148 851,808 217,194 220,064 166,716 149,170 Return on equity 31 % 19 % 14 % 13 % 21 % 17 % 31 % 29 % Overhead ratio 53 54 59 56 38 37 73 69 As of or for the three months ended September 30, Corporate Reconciling Items (a) Total 2018 2017 2018 2017 2018 2017 Noninterest revenue $ (177 ) $ 109 $ (408 ) $ (555 ) $ 13,352 $ 12,780 Net interest income 74 77 (154 ) $ (319 ) 13,908 12,798 Total net revenue (103 ) 186 (562 ) $ (874 ) 27,260 25,578 Provision for credit losses 2 — — — 948 1,452 Noninterest expense 28 74 — — 15,623 14,570 Income/(loss) before income tax expense/(benefit) (133 ) 112 (562 ) (874 ) 10,689 9,556 Income tax expense/(benefit) 12 34 (562 ) (874 ) 2,309 2,824 Net income/(loss) $ (145 ) $ 78 $ — $ — $ 8,380 $ 6,732 Average equity $ 80,439 $ 81,861 $ — $ — $ 230,439 $ 231,861 Total assets 742,693 804,573 NA NA 2,615,183 2,563,074 Return on equity NM NM NM NM 14 % 11 % Overhead ratio NM NM NM NM 57 57 (a) Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. Segment results and reconciliation (a) As of or for the nine months ended September 30, Consumer & Corporate & Commercial Banking Asset & Wealth Management 2018 2017 2018 2017 2018 2017 2018 2017 Noninterest revenue $ 12,063 $ 10,899 $ 21,954 $ 19,598 $ 1,758 $ 1,774 $ 7,997 $ 7,677 Net interest income 26,321 23,516 7,257 7,541 4,995 4,478 2,640 2,520 Total net revenue 38,384 34,415 29,211 27,139 6,753 6,252 10,637 10,197 Provision for credit losses 3,405 4,341 (142 ) (175 ) 23 (214 ) 40 30 Noninterest expense 20,770 19,390 16,237 14,854 2,541 2,415 7,732 7,606 Income before income tax expense 14,209 10,684 13,116 12,460 4,189 4,051 2,865 2,561 Income tax expense 3,385 3,920 3,318 3,963 988 1,469 616 878 Net income $ 10,824 $ 6,764 $ 9,798 $ 8,497 $ 3,201 $ 2,582 $ 2,249 $ 1,683 Average equity $ 51,000 $ 51,000 $ 70,000 $ 70,000 $ 20,000 $ 20,000 $ 9,000 $ 9,000 Total assets 560,432 537,459 928,148 851,808 217,194 220,064 166,716 149,170 Return on equity 27 % 17 % 18 % 15 % 20 % 16 % 32 % 24 % Overhead ratio 54 56 56 55 38 39 73 75 As of or for the nine months ended September 30, Corporate Reconciling Items (a) Total 2018 2017 2018 2017 2018 2017 Noninterest revenue $ (220 ) $ 963 $ (1,337 ) $ (1,733 ) $ 42,215 $ 39,178 Net interest income (35 ) 2 (473 ) $ (987 ) 40,705 37,070 Total net revenue (255 ) 965 (1,810 ) $ (2,720 ) 82,920 76,248 Provision for credit losses (3 ) — — — 3,323 3,982 Noninterest expense 394 355 — — 47,674 44,620 Income/(loss) before income tax expense/(benefit) (646 ) 610 (1,810 ) (2,720 ) 31,923 27,646 Income tax expense/(benefit) 18 (73 ) (1,810 ) (2,720 ) 6,515 7,437 Net income/(loss) $ (664 ) $ 683 $ — $ — $ 25,408 $ 20,209 Average equity $ 78,995 $ 79,937 $ — $ — $ 228,995 $ 229,937 Total assets 742,693 804,573 NA NA 2,615,183 2,563,074 Return on equity NM NM NM NM 14 % 11 % Overhead ratio NM NM NM NM 57 59 (a) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of presentation policy | The accounting and financial reporting policies of JPMorgan Chase and its subsidiaries conform to U.S. GAAP. Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by regulatory authorities. |
Use of estimates in the preparation of consolidated financial statements policy | The unaudited Consolidated Financial Statements prepared in conformity with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expense, and the disclosures of contingent assets and liabilities. Actual results could be different from these estimates. In the opinion of management, all normal, recurring adjustments have been included such that this interim financial information is fairly presented. |
Reclassifications policy | Certain amounts reported in prior periods have been reclassified to conform with the current presentation. |
Consolidation policy | The Consolidated Financial Statements include the accounts of JPMorgan Chase and other entities in which the Firm has a controlling financial interest. All material intercompany balances and transactions have been eliminated. Assets held for clients in an agency or fiduciary capacity by the Firm are not assets of JPMorgan Chase and are not included on the Consolidated balance sheets. The Firm determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a |
Offsetting assets and liabilities policy | U.S. GAAP permits entities to present derivative receivables and derivative payables with the same counterparty and the related cash collateral receivables and payables on a net basis on the Consolidated balance sheets when a legally enforceable master netting agreement exists. U.S. GAAP also permits securities financing activities to be presented on a net basis when specified conditions are met, including the existence of a legally enforceable master netting agreement. The Firm has elected to net such balances when the specified conditions are met. For further information on offsetting assets and liabilities, refer to Note 1 of JPMorgan Chase |
Accounting standards adopted January 1, 2018 | Certain of the new accounting standards were applied retrospectively and prior period amounts were revised accordingly. The most significant of the new standards was revenue recognition, which requires gross presentation of certain costs that were previously offset against revenue. This change resulted in noninterest revenue and noninterest expense each increasing by $252 million and $777 million for the three and nine months ended September 30, 2017, respectively, with no impact to net income. Upon adoption of the restricted cash guidance, to align the Consolidated balance sheets with the Consolidated statements of cash flows, the Firm reclassified restricted cash into cash and due from banks or deposits with banks. In addition, for the Firm’s Consolidated statements of cash flows, cash is defined as those amounts included in cash and due from banks and deposits with banks. This guidance was applied retrospectively and, accordingly, prior period amounts have been revised, resulting in cash and due from banks and deposits with banks increasing by $71 million and $1.1 billion , respectively, and other assets decreasing by $1.2 billion |
Loan securitizations policy | The Firm has securitized and sold a variety of loans, including residential mortgage, credit card, and commercial mortgage. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of adoption of new accounting standards | The following table identifies the standards adopted, and the note where further information on the impact of the new guidance can be found: Revenue recognition – revenue from contracts with customers Note 5 Recognition and measurement of financial assets and financial liabilities Notes 2 and 9 Treatment of restricted cash on the statement of cash flows Note 18 Presentation of net periodic pension cost and net periodic postretirement benefit cost Note 7 Premium amortization on purchased callable debt securities Notes 9 and 17 Hedge accounting Notes 4, 9 and 17 Reclassification of certain tax effects from AOCI Note 17 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and liabilities measured at fair value on a recurring basis | The following table presents the assets and liabilities reported at fair value as of September 30, 2018 , and December 31, 2017 , by major product category and fair value hierarchy . Assets and liabilities measured at fair value on a recurring basis Fair value hierarchy Derivative September 30, 2018 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 12,226 $ — $ — $ 12,226 Securities borrowed — 4,528 — — 4,528 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) — 46,252 529 — 46,781 Residential – nonagency — 1,681 77 — 1,758 Commercial – nonagency — 1,420 13 — 1,433 Total mortgage-backed securities — 49,353 619 — 49,972 U.S. Treasury and government agencies (a) 40,815 7,443 — — 48,258 Obligations of U.S. states and municipalities — 8,785 699 — 9,484 Certificates of deposit, bankers’ acceptances and commercial paper — 3,070 — — 3,070 Non-U.S. government debt securities 26,824 28,875 164 — 55,863 Corporate debt securities — 23,210 395 — 23,605 Loans (b) — 40,051 1,533 — 41,584 Asset-backed securities — 2,779 76 — 2,855 Total debt instruments 67,639 163,566 3,486 — 234,691 Equity securities 104,701 405 329 — 105,435 Physical commodities (c) 3,727 1,256 — — 4,983 Other — 14,188 413 — 14,601 Total debt and equity instruments (d) 176,067 179,415 4,228 — 359,710 Derivative receivables: Interest rate 715 258,744 2,000 (238,062 ) 23,397 Credit — 22,553 952 (22,923 ) 582 Foreign exchange 734 187,377 773 (171,841 ) 17,043 Equity — 43,791 3,141 (36,828 ) 10,104 Commodity — 22,129 239 (13,432 ) 8,936 Total derivative receivables (e) 1,449 534,594 7,105 (483,086 ) 60,062 Total trading assets (f) 177,516 714,009 11,333 (483,086 ) 419,772 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 63,110 — — 63,110 Residential – nonagency — 9,216 1 — 9,217 Commercial – nonagency — 7,048 — — 7,048 Total mortgage-backed securities — 79,374 1 — 79,375 U.S. Treasury and government agencies 27,816 — — — 27,816 Obligations of U.S. states and municipalities — 38,121 — — 38,121 Certificates of deposit — 75 — — 75 Non-U.S. government debt securities 16,544 8,130 — — 24,674 Corporate debt securities — 2,056 — — 2,056 Asset-backed securities: Collateralized loan obligations — 20,048 61 — 20,109 Other — 7,804 — — 7,804 Total available-for-sale securities 44,360 155,608 62 — 200,030 Loans — 2,847 140 — 2,987 Mortgage servicing rights — — 6,433 — 6,433 Other assets (f)(g) 10,684 20 1,063 — 11,767 Total assets measured at fair value on a recurring basis $ 232,560 $ 889,238 $ 19,031 $ (483,086 ) $ 657,743 Deposits $ — $ 16,060 $ 4,440 $ — $ 20,500 Federal funds purchased and securities loaned or sold under repurchase agreements — 1,059 — — 1,059 Short-term borrowings — 5,914 1,971 — 7,885 Trading liabilities: Debt and equity instruments (d) 84,958 24,403 96 — 109,457 Derivative payables: Interest rate 310 232,614 1,309 (227,142 ) 7,091 Credit 22,435 925 (21,908 ) 1,452 Foreign exchange 880 175,664 1,075 (165,217 ) 12,402 Equity — 45,937 5,418 (39,377 ) 11,978 Commodity — 22,075 764 (14,069 ) 8,770 Total derivative payables (e) 1,190 498,725 9,491 (467,713 ) 41,693 Total trading liabilities 86,148 523,128 9,587 (467,713 ) 151,150 Accounts payable and other liabilities 5,127 20 12 — 5,159 Beneficial interests issued by consolidated VIEs — 16 1 — 17 Long-term debt — 34,074 20,038 — 54,112 Total liabilities measured at fair value on a recurring basis $ 91,275 $ 580,271 $ 36,049 $ (467,713 ) $ 239,882 Fair value hierarchy Derivative December 31, 2017 (in millions) Level 1 Level 2 Level 3 Total fair value Federal funds sold and securities purchased under resale agreements $ — $ 14,732 $ — $ — $ 14,732 Securities borrowed — 3,049 — — 3,049 Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies (a) — 41,515 307 — 41,822 Residential – nonagency — 1,835 60 — 1,895 Commercial – nonagency — 1,645 11 — 1,656 Total mortgage-backed securities — 44,995 378 — 45,373 U.S. Treasury and government agencies (a) 30,758 6,475 1 — 37,234 Obligations of U.S. states and municipalities — 9,067 744 — 9,811 Certificates of deposit, bankers’ acceptances and commercial paper — 226 — — 226 Non-U.S. government debt securities 28,887 28,831 78 — 57,796 Corporate debt securities — 24,146 312 — 24,458 Loans (b) — 35,242 2,719 — 37,961 Asset-backed securities — 3,284 153 — 3,437 Total debt instruments 59,645 152,266 4,385 — 216,296 Equity securities 87,346 197 295 — 87,838 Physical commodities (c) 4,924 1,322 — — 6,246 Other — 14,197 690 — 14,887 Total debt and equity instruments (d) 151,915 167,982 5,370 — 325,267 Derivative receivables: Interest rate 181 314,107 1,704 (291,319 ) 24,673 Credit — 21,995 1,209 (22,335 ) 869 Foreign exchange 841 158,834 557 (144,081 ) 16,151 Equity — 37,722 2,318 (32,158 ) 7,882 Commodity — 19,875 210 (13,137 ) 6,948 Total derivative receivables (e) 1,022 552,533 5,998 (503,030 ) 56,523 Total trading assets (f) 152,937 720,515 11,368 (503,030 ) 381,790 Available-for-sale securities: Mortgage-backed securities: U.S. government agencies (a) — 70,280 — — 70,280 Residential – nonagency — 11,366 1 — 11,367 Commercial – nonagency — 5,025 — — 5,025 Total mortgage-backed securities — 86,671 1 — 86,672 U.S. Treasury and government agencies 22,745 — — — 22,745 Obligations of U.S. states and municipalities — 32,338 — — 32,338 Certificates of deposit — 59 — — 59 Non-U.S. government debt securities 18,140 9,154 — — 27,294 Corporate debt securities — 2,757 — — 2,757 Asset-backed securities: Collateralized loan obligations — 20,720 276 — 20,996 Other — 8,817 — — 8,817 Equity securities (g) 547 — — — 547 Total available-for-sale securities 41,432 160,516 277 — 202,225 Loans — 2,232 276 — 2,508 Mortgage servicing rights — — 6,030 — 6,030 Other assets (f)(g) 13,795 343 1,265 — 15,403 Total assets measured at fair value on a recurring basis $ 208,164 $ 901,387 $ 19,216 $ (503,030 ) $ 625,737 Deposits $ — $ 17,179 $ 4,142 $ — $ 21,321 Federal funds purchased and securities loaned or sold under repurchase agreements — 697 — — 697 Short-term borrowings — 7,526 1,665 — 9,191 Trading liabilities: Debt and equity instruments (d) 64,664 21,183 39 — 85,886 Derivative payables: Interest rate 170 282,825 1,440 (277,306 ) 7,129 Credit — 22,009 1,244 (21,954 ) 1,299 Foreign exchange 794 154,075 953 (143,349 ) 12,473 Equity — 39,668 5,727 (36,203 ) 9,192 Commodity — 21,017 884 (14,217 ) 7,684 Total derivative payables (e) 964 519,594 10,248 (493,029 ) 37,777 Total trading liabilities 65,628 540,777 10,287 (493,029 ) 123,663 Accounts payable and other liabilities 9,074 121 13 — 9,208 Beneficial interests issued by consolidated VIEs — 6 39 — 45 Long-term debt — 31,394 16,125 — 47,519 Total liabilities measured at fair value on a recurring basis $ 74,702 $ 597,700 $ 32,271 $ (493,029 ) $ 211,644 (a) At September 30, 2018 , and December 31, 2017 , included total U.S. government-sponsored enterprise obligations of $77.3 billion and $78.0 billion , respectively, which were predominantly mortgage-related. (b) At September 30, 2018 , and December 31, 2017 , included within trading loans were $13.8 billion and $11.4 billion , respectively, of residential first-lien mortgages, and $2.6 billion and $4.2 billion , respectively, of commercial first-lien mortgages. Residential mortgage loans include conforming mortgage loans originated with the intent to sell to U.S. government agencies of $9.2 billion and $5.7 billion , respectively, and reverse mortgages of zero and $836 million respectively. (c) Physical commodities inventories are generally accounted for at the lower of cost or net realizable value. “Net realizable value” is a term defined in U.S. GAAP as not exceeding fair value less costs to sell (“transaction costs”). Transaction costs for the Firm’s physical commodities inventories are either not applicable or immaterial to the value of the inventory. Therefore, net realizable value approximates fair value for the Firm’s physical commodities inventories. When fair value hedging has been applied (or when net realizable value is below cost), the carrying value of physical commodities approximates fair value, because under fair value hedge accounting, the cost basis is adjusted for changes in fair value. For a further discussion of the Firm’s hedge accounting relationships, refer to Note 4 . To provide consistent fair value disclosure information, all physical commodities inventories have been included in each period presented. (d) Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). (e) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral received and paid when a legally enforceable master netting agreement exists. For purposes of the tables above, the Firm does not reduce derivative receivables and derivative payables balances for this netting adjustment, either within or across the levels of the fair value hierarchy, as such netting is not relevant to a presentation based on the transparency of inputs to the valuation of an asset or liability. The level 3 balances would be reduced if netting were applied, including the netting benefit associated with cash collateral. (f) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not required to be classified in the fair value hierarchy. At September 30, 2018 , and December 31, 2017 , the fair values of these investments, which include certain hedge funds, private equity funds, real estate and other funds, were $767 million and $779 million , respectively. Included in these balances at September 30, 2018 , and December 31, 2017 , were trading assets of $55 million and $54 million , respectively, and other assets of $712 million and $725 million , respectively. (g) Effective January 1, 2018, the Firm adopted the recognition and measurement guidance. Equity securities that were previously reported as AFS securities were reclassified to other assets upon adoption. |
Fair value inputs, assets and liabilities, quantitative information | Level 3 inputs (a) September 30, 2018 Product/Instrument Fair value (in millions) Principal valuation technique Unobservable inputs (g) Range of input values Weighted average Residential mortgage-backed securities and loans (b) $ 823 Discounted cash flows Yield 0 % – 28 % 6 % Prepayment speed 0 % – 39 % 9 % Conditional default rate 0 % – 6 % 1 % Loss severity 0 % – 100 % 5 % Commercial mortgage-backed securities and loans (c) 439 Market comparables Price $ 4 – $ 101 $ 93 Obligations of U.S. states and municipalities 699 Market comparables Price $ 60 – $ 100 $ 97 Corporate debt securities 395 Market comparables Price $ 3 – $ 110 $ 80 Loans (d) 1,031 Market comparables Price $ 3 – $ 102 $ 79 Asset-backed securities 61 Discounted cash flows Credit spread 219 bps 219 bps Prepayment speed 20 % 20 % Conditional default rate 2 % 2 % Loss severity 30 % 30 % 76 Market comparables Price $ 0 – $ 100 $ 51 Net interest rate derivatives 528 Option pricing Interest rate spread volatility 16 bps – 38 bps Interest rate correlation (45 )% – 97 % IR-FX correlation 55 % – 60 % 163 Discounted cash flows Prepayment speed 0 % – 30 % Net credit derivatives 26 Discounted cash flows Credit correlation 35 % – 60 % Credit spread 6 bps – 1,543 bps Recovery rate 20 % – 70 % Yield 3 % – 52 % Prepayment speed 5 % – 17 % Conditional default rate 0 % – 100 % Loss severity 0 % – 100 % 1 Market comparables Price $ 10 – $ 98 Net foreign exchange derivatives (121 ) Option pricing IR-FX correlation (45 )% – 60 % (181 ) Discounted cash flows Prepayment speed 8 % – 9 % Net equity derivatives (2,277 ) Option pricing Equity volatility 10 % – 60 % Equity correlation 10 % – 95 % Equity-FX correlation (75 )% – 60 % Equity-IR correlation 20 % – 60 % Net commodity derivatives (525 ) Option pricing Forward commodity price $ 61 – $ 83 per barrel Commodity volatility 5 % – 48 % Commodity correlation (52 )% – 95 % MSRs 6,433 Discounted cash flows Refer to Note 14 Other assets 322 Discounted cash flows Credit spread 70 bps 70 bps Yield 8 % – 10 % 8 % 1,154 Market comparables Price $ 34 – $ 106 $ 45 EBITDA multiple 3.0x – 9.2x 8.4x Long-term debt, short-term borrowings, and deposits (e) 26,449 Option pricing Interest rate spread volatility 16 bps – 38 bps Interest rate correlation (45 )% – 97 % IR-FX correlation (45 )% – 60 % Equity correlation 10 % – 95 % Equity-FX correlation (75 )% – 60 % Equity-IR correlation 20 % – 60 % Other level 3 assets and liabilities, net (f) 384 (a) The categories presented in the table have been aggregated based upon the product type, which may differ from their classification on the Consolidated balance sheets. Furthermore, the inputs presented for each valuation technique in the table are, in some cases, not applicable to every instrument valued using the technique as the characteristics of the instruments can differ. (b) Includes U.S. government agency securities of $502 million , nonagency securities of $78 million and trading loans of $243 million . (c) Includes U.S. government agency securities of $27 million , nonagency securities of $13 million , trading loans of $259 million and non-trading loans of $140 million . (d) Comprises trading loans. (e) Long-term debt, short-term borrowings and deposits include structured notes issued by the Firm that are financial instruments that typically contain embedded derivatives. The estimation of the fair value of structured notes includes the derivative features embedded within the instrument. The significant unobservable inputs are broadly consistent with those presented for derivative receivables. (f) Includes level 3 assets and liabilities that are insignificant both individually and in aggregate. (g) Price is a significant unobservable input for certain instruments. When quoted market prices are not readily available, reliance is generally placed on price-based internal valuation techniques. The price input is expressed assuming a par value of $100 |
Changes in level 3 recurring fair value measurements | The following tables include a rollforward of the Consolidated balance sheets amounts (including changes in fair value) for financial instruments classified by the Firm within level 3 of the fair value hierarchy for the three and nine months ended September 30, 2018 and 2017. When a determination is made to classify a financial instrument within level 3, the determination is based on the significance of the unobservable parameters to the overall fair value measurement. However, level 3 financial instruments typically include, in addition to the unobservable or level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources); accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. Also, the Firm risk-manages the observable components of level 3 financial instruments using securities and derivative positions that are classified within level 1 or 2 of the fair value hierarchy; as these level 1 and level 2 risk management instruments are not included below, the gains or losses in the following tables do not reflect the effect of the Firm’s risk management activities related to such level 3 instruments. Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 478 $ 2 $ 14 $ (28 ) $ (17 ) $ 83 $ (3 ) $ 529 $ — Residential – nonagency 87 1 — (6 ) (3 ) 18 (20 ) 77 1 Commercial – nonagency 18 (1 ) — — — 9 (13 ) 13 (1 ) Total mortgage-backed securities 583 2 14 (34 ) (20 ) 110 (36 ) 619 — U.S. Treasury and government agencies — — — — — — — — — Obligations of U.S. states and municipalities 736 8 26 (70 ) (1 ) — — 699 7 Non-U.S. government debt securities 183 (9 ) 44 (29 ) (2 ) 1 (24 ) 164 (9 ) Corporate debt securities 274 (2 ) 156 (87 ) (4 ) 82 (24 ) 395 (3 ) Loans 1,986 17 188 (146 ) (199 ) 48 (361 ) 1,533 3 Asset-backed securities 87 6 5 (7 ) (13 ) 5 (7 ) 76 3 Total debt instruments 3,849 22 433 (373 ) (239 ) 246 (452 ) 3,486 1 Equity securities 288 20 6 (48 ) — 82 (19 ) 329 (18 ) Other 406 30 13 — (37 ) 2 (1 ) 413 10 Total trading assets – debt and equity instruments 4,543 72 (c) 452 (421 ) (276 ) 330 (472 ) 4,228 (7 ) (c) Net derivative receivables: (a) Interest rate 489 236 28 (22 ) (101 ) 68 (7 ) 691 216 Credit (24 ) (19 ) 1 — 47 6 16 27 (15 ) Foreign exchange (245 ) (56 ) 29 (7 ) (49 ) (2 ) 28 (302 ) (54 ) Equity (2,578 ) (94 ) 643 (635 ) 622 (251 ) 16 (2,277 ) (121 ) Commodity (752 ) 318 — — (113 ) 15 7 (525 ) 138 Total net derivative receivables (3,110 ) 385 (c) 701 (664 ) 406 (164 ) 60 (2,386 ) 164 (c) Available-for-sale securities: Asset-backed securities 147 — — — (86 ) — — 61 — Other 1 — — — — — — 1 — Total available-for-sale securities 148 — — — (86 ) — — 62 — Loans 159 (1 ) (c) 1 — (19 ) — — 140 (1 ) (c) Mortgage servicing rights 6,241 98 (e) 291 (2 ) (195 ) — — 6,433 98 (e) Other assets 1,225 (160 ) (c) 2 — (7 ) 3 — 1,063 (160 ) (c) Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 4,305 $ (84 ) (c)(i) $ — $ — $ 517 $ (170 ) $ 1 $ (129 ) $ 4,440 $ (82 ) (c)(i) Short-term borrowings 2,209 (47 ) (c)(i) — — 713 (885 ) 6 (25 ) 1,971 (31 ) (c)(i) Trading liabilities – debt and equity instruments 43 36 (c) (6 ) 19 — (2 ) 7 (1 ) 96 36 (c) Accounts payable and other liabilities 8 1 — — — — 3 — 12 1 Beneficial interests issued by consolidated VIEs 1 — — — — — — — 1 — Long-term debt 18,262 194 (c)(i) — — 3,551 (1,809 ) 59 (219 ) 20,038 192 (c)(i) Fair value measurements using significant unobservable inputs Three months ended Fair Total realized/unrealized gains/(losses) Transfers into level 3 (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 365 $ (2 ) $ — $ (15 ) $ (20 ) $ 10 $ (15 ) $ 323 $ (2 ) Residential – nonagency 98 6 4 (4 ) (12 ) 50 (35 ) 107 5 Commercial – nonagency 65 3 10 (24 ) — 3 (30 ) 27 3 Total mortgage-backed securities 528 7 14 (43 ) (32 ) 63 (80 ) 457 6 U.S. Treasury and government agencies — — — — — 1 — 1 — Obligations of U.S. states and municipalities 681 3 31 — — — — 715 3 Non-U.S. government debt securities 37 — 252 (217 ) — 23 (15 ) 80 — Corporate debt securities 461 7 193 (327 ) (22 ) 68 (19 ) 361 8 Loans 4,488 131 564 (1,498 ) (421 ) 246 (303 ) 3,207 71 Asset-backed securities 83 5 170 (10 ) (8 ) 36 (5 ) 271 4 Total debt instruments 6,278 153 1,224 (2,095 ) (483 ) 437 (422 ) 5,092 92 Equity securities 284 6 29 (40 ) — 16 (7 ) 288 7 Other 731 20 5 (38 ) (25 ) — (2 ) 691 16 Total trading assets – debt and equity instruments 7,293 179 (c) 1,258 (2,173 ) (508 ) 453 (431 ) 6,071 115 (c) Net derivative receivables: (a) Interest rate 712 101 16 (23 ) (182 ) 21 19 664 (7 ) Credit (45 ) (32 ) — (1 ) (2 ) 40 4 (36 ) (22 ) Foreign exchange (686 ) 16 9 (2 ) 68 (39 ) 95 (539 ) 37 Equity (2,444 ) (10 ) 355 (184 ) (132 ) (1 ) 41 (2,375 ) 82 Commodity (58 ) (30 ) — — (3 ) (2 ) (7 ) (100 ) (51 ) Total net derivative receivables (2,521 ) 45 (c) 380 (210 ) (251 ) 19 152 (2,386 ) 39 (c) Available-for-sale securities: Asset-backed securities 547 2 — — (63 ) — — 486 2 Other 1 — — — — — — 1 — Total available-for-sale securities 548 2 (d) — — (63 ) — — 487 2 (d) Loans 305 8 (c) — (26 ) (10 ) — — 277 8 (c) Mortgage servicing rights 5,753 (66 ) (e) 253 (2 ) (200 ) — — 5,738 (66 ) (e) Other assets 1,934 18 (c) 3 (2 ) (82 ) — — 1,871 16 (c) Fair value measurements using significant unobservable inputs Three months ended Fair at July 1, 2017 Total realized/unrealized (gains)/losses Transfers into level 3 (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/losses related Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 2,131 $ 33 (c) $ — $ — $ 1,909 $ (58 ) $ — $ (177 ) $ 3,838 $ 27 (c) Federal funds purchased and securities loaned or sold under repurchase agreements — — — — — — 1 — 1 — Short-term borrowings 1,314 33 (c) — — 818 (631 ) 13 (76 ) 1,471 21 (c) Trading liabilities – debt and equity instruments 36 2 (c) (23 ) 28 — — — — 43 3 (c) Accounts payable and other liabilities 10 — — — — (1 ) — — 9 — Beneficial interests issued by consolidated VIEs 1 — — 39 — — 78 — 118 — Long-term debt 14,732 319 (c)(j) — — 3,023 (j) (3,552 ) 181 (209 ) 14,494 (j) 242 (c)(j) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 307 $ 5 $ 348 $ (126 ) $ (56 ) $ 92 $ (41 ) $ 529 $ 3 Residential – nonagency 60 1 45 (19 ) (6 ) 58 (62 ) 77 4 Commercial – nonagency 11 2 7 (8 ) (13 ) 30 (16 ) 13 (1 ) Total mortgage-backed securities 378 8 400 (153 ) (75 ) 180 (119 ) 619 6 U.S. Treasury and government agencies 1 — — — — — (1 ) — — Obligations of U.S. states and municipalities 744 (3 ) 107 (70 ) (79 ) — — 699 (3 ) Non-U.S. government debt securities 78 (19 ) 395 (213 ) (2 ) 18 (93 ) 164 (18 ) Corporate debt securities 312 (6 ) 297 (227 ) (15 ) 249 (215 ) 395 (1 ) Loans 2,719 58 1,223 (1,680 ) (528 ) 422 (681 ) 1,533 (22 ) Asset-backed securities 153 15 64 (29 ) (53 ) 18 (92 ) 76 8 Total debt instruments 4,385 53 2,486 (2,372 ) (752 ) 887 (1,201 ) 3,486 (30 ) Equity securities 295 (1 ) 99 (108 ) (1 ) 86 (41 ) 329 11 Other 690 (209 ) 47 (40 ) (75 ) 3 (3 ) 413 (250 ) Total trading assets – debt and equity instruments 5,370 (157 ) (c) 2,632 (2,520 ) (828 ) 976 (1,245 ) 4,228 (269 ) (c) Net derivative receivables: (a) Interest rate 264 576 83 (77 ) (234 ) 40 39 691 498 Credit (35 ) 19 3 (7 ) 22 5 20 27 7 Foreign exchange (396 ) 184 42 (15 ) (46 ) (114 ) 43 (302 ) 42 Equity (3,409 ) 688 1,467 (1,919 ) 1,043 (324 ) 177 (2,277 ) 31 Commodity (674 ) 468 — — (287 ) 7 (39 ) (525 ) 158 Total net derivative receivables (4,250 ) 1,935 (c) 1,595 (2,018 ) 498 (386 ) 240 (2,386 ) 736 (c) Available-for-sale securities: Asset-backed securities 276 1 — — (216 ) — — 61 1 Other 1 — — — — — — 1 — Total available-for-sale securities 277 1 (d) — — (216 ) — — 62 1 (d) Loans 276 (5 ) (c) 123 — (180 ) — (74 ) 140 (5 ) (c) Mortgage servicing rights 6,030 576 (e) 770 (401 ) (542 ) — — 6,433 576 (e) Other assets 1,265 (210 ) (c) 49 (16 ) (28 ) 4 (1 ) 1,063 (217 ) (c) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 4,142 $ (125 ) (c)(i) $ — $ — $ 1,272 $ (425 ) $ 2 $ (426 ) $ 4,440 $ (115 ) (c)(i) Short-term borrowings 1,665 (229 ) (c)(i) — — 2,783 (2,245 ) 61 (64 ) 1,971 26 (c)(i) Trading liabilities – debt and equity instruments 39 28 (c) (68 ) 95 — (1 ) 9 (6 ) 96 11 (c) Accounts payable and other liabilities 13 — (6 ) 1 — — 4 — 12 — Beneficial interests issued by consolidated VIEs 39 — — — — (38 ) — — 1 — Long-term debt 16,125 (396 ) (c)(i) — — 10,382 (6,155 ) 653 (571 ) 20,038 (576 ) (c)(i) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized gains/(losses) Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized gains/(losses) related Purchases (f) Sales Settlements (g) Assets: Trading assets: Debt instruments: Mortgage-backed securities: U.S. government agencies $ 392 $ (9 ) $ 161 $ (166 ) $ (55 ) $ 37 $ (37 ) $ 323 $ (17 ) Residential – nonagency 83 14 40 (24 ) (21 ) 111 (96 ) 107 2 Commercial – nonagency 17 5 27 (38 ) (5 ) 63 (42 ) 27 1 Total mortgage-backed securities 492 10 228 (228 ) (81 ) 211 (175 ) 457 (14 ) U.S. Treasury and government agencies — — — — — 1 — 1 — Obligations of U.S. states and municipalities 649 15 126 (70 ) (5 ) — — 715 15 Non-U.S. government debt securities 46 3 426 (395 ) — 50 (50 ) 80 — Corporate debt securities 576 — 690 (473 ) (398 ) 128 (162 ) 361 11 Loans 4,837 309 2,055 (2,565 ) (1,186 ) 564 (807 ) 3,207 73 Asset-backed securities 302 27 279 (178 ) (44 ) 50 (165 ) 271 2 Total debt instruments 6,902 364 3,804 (3,909 ) (1,714 ) 1,004 (1,359 ) 5,092 87 Equity securities 231 40 142 (87 ) — 18 (56 ) 288 34 Other 761 85 27 (45 ) (137 ) 10 (10 ) 691 46 Total trading assets – debt and equity instruments 7,894 489 (c) 3,973 (4,041 ) (1,851 ) 1,032 (1,425 ) 6,071 167 (c) Net derivative receivables: (a) Interest rate 1,263 182 53 (76 ) (833 ) 55 20 664 (184 ) Credit 98 (126 ) 1 (4 ) (64 ) 57 2 (36 ) (57 ) Foreign exchange (1,384 ) 86 13 (6 ) 633 (16 ) 135 (539 ) (12 ) Equity (2,252 ) 24 840 (312 ) (660 ) (182 ) 167 (2,375 ) 76 Commodity (85 ) (34 ) — — 22 2 (5 ) (100 ) 27 Total net derivative receivables (2,360 ) 132 (c) 907 (398 ) (902 ) (84 ) 319 (2,386 ) (150 ) (c) Available-for-sale securities: Asset-backed securities 663 14 — (50 ) (141 ) — — 486 12 Other 1 — — — — — — 1 — Total available-for-sale securities 664 14 (d) — (50 ) (141 ) — — 487 12 (d) Loans 570 32 (c) — (26 ) (299 ) — — 277 8 (c) Mortgage servicing rights 6,096 (223 ) (e) 624 (140 ) (619 ) — — 5,738 (224 ) (e) Other assets 2,223 248 (c) 35 (157 ) (478 ) — — 1,871 126 (c) Fair value measurements using significant unobservable inputs Nine months ended Fair Total realized/unrealized (gains)/losses Transfers into (h) Transfers (out of) level 3 (h) Fair value at Change in unrealized (gains)/ Purchases Sales Issuances Settlements (g) Liabilities: (b) Deposits $ 2,117 $ 39 (c) $ — $ — $ 2,510 $ (169 ) $ — $ (659 ) $ 3,838 $ 140 (c) Federal funds purchased and securities loaned or sold under repurchase agreements — — — — — — 1 — 1 — Short-term borrowings 1,134 80 (c) — 2,208 (1,873 ) 53 (131 ) 1,471 50 (c) Trading liabilities – debt and equity instruments 43 1 (c) (31 ) 32 — 1 3 (6 ) 43 1 (c) Accounts payable and other liabilities 13 — (1 ) — — (3 ) — — 9 — Beneficial interests issued by consolidated VIEs 48 3 (44 ) 39 — (6 ) 78 — 118 — Long-term debt 12,850 918 (c)(j) — — 9,756 (j) (8,637 ) 269 (662 ) 14,494 (j) 996 (c)(j) (a) All level 3 derivatives are presented on a net basis, irrespective of the underlying counterparty. (b) Level 3 liabilities as a percentage of total Firm liabilities accounted for at fair value (including liabilities measured at fair value on a nonrecurring basis) were 15% at both September 30, 2018 and December 31, 2017 , respectively. (c) Predominantly reported in principal transactions revenue, except for changes in fair value for CCB mortgage loans and lending-related commitments originated with the intent to sell, and mortgage loan purchase commitments, which are reported in mortgage fees and related income. (d) Realized gains/(losses) on AFS securities, as well as other-than-temporary impairment (“OTTI”) losses that are recorded in earnings, are reported in investment securities losses. Unrealized gains/(losses) are reported in OCI. There were no realized gains/(losses) or foreign exchange hedge accounting adjustments recorded in income on AFS securities for the three and nine months ended September 30, 2018 and 2017 , respectively. Unrealized gains/(losses) recorded on AFS securities in OCI were zero and $2 million for the three months ended September 30, 2018 and 2017 , respectively and $1 million and $14 million for the nine months ended September 30, 2018 and 2017, respectively. (e) Changes in fair value for CCB MSRs are reported in mortgage fees and related income. (f) Loan originations are included in purchases. (g) Includes financial assets and liabilities that have matured, been partially or fully repaid, impacts of modifications, deconsolidation associated with beneficial interests in VIEs and other items. (h) All transfers into and/or out of level 3 are based on changes in the observability of the valuation inputs and are assumed to occur at the beginning of the quarterly reporting period in which they occur. (i) Realized (gains)/losses due to DVA for fair value option elected liabilities are reported in principal transactions revenue. Unrealized (gains)/losses are reported in OCI. Unrealized (gains)/losses were $123 million for the three months ended September 30, 2018 and unrealized (gains)/losses were not material for the nine months ended September 30, 2018. There were no material realized (gains)/losses for the three and nine months ended September 30, 2018, respectively. (j) |
Impact of credit adjustments on earnings | The following table provides the impact of credit and funding adjustments on principal transactions revenue in the respective periods, excluding the effect of any associated hedging activities. The FVA presented below includes the impact of the Firm’s own credit quality on the inception value of liabilities as well as the impact of changes in the Firm’s own credit quality over time. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Credit and funding adjustments: Derivatives CVA $ 66 $ 245 $ 223 $ 715 Derivatives FVA 88 (222 ) 102 (289 ) |
Assets and liabilities measured at fair value on a nonrecurring basis | The following table presents the total change in value of assets and liabilities for which a fair value adjustment has been recognized for the three and nine months ended September 30, 2018 and 2017 , related to financial instruments held at those dates. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Loans $ (22 ) $ (52 ) $ (36 ) $ (157 ) Other assets (117 ) (a) (11 ) 383 (a) (44 ) Accounts payable and other liabilities — — — (1 ) Total nonrecurring fair value gains/(losses) $ (139 ) $ (63 ) $ 347 $ (202 ) (a) Included $(113) million and $384 million The following tables present the assets still held as of September 30, 2018 and 2017, respectively, for which a nonrecurring fair value adjustment was recorded during the nine months ended September 30, 2018 and 2017, respectively, by major product category and fair value hierarchy. Fair value hierarchy Total fair value September 30, 2018 (in millions) Level 1 Level 2 Level 3 Loans $ — $ 492 $ 243 (a) $ 735 Other assets (b) — 216 826 1,042 Total assets measured at fair value on a nonrecurring basis $ — $ 708 $ 1,069 $ 1,777 Fair value hierarchy Total fair value September 30, 2017 (in millions) Level 1 Level 2 Level 3 Loans $ — $ 338 $ 542 $ 880 Other assets — 7 245 252 Total assets measured at fair value on a nonrecurring basis $ — $ 345 $ 787 $ 1,132 (a) Of the $243 million in level 3 assets measured at fair value on a nonrecurring basis as of September 30, 2018, $200 million related to residential real estate loans carried at the net realizable value of the underlying collateral (e.g., collateral-dependent loans and other loans charged off in accordance with regulatory guidance). These amounts are classified as level 3 as they are valued using a broker’s price opinion and discounted based upon the Firm’s experience with actual liquidation values. These discounts to the broker price opinions ranged from 13% to 40% with a weighted average of 22% . (b) Primarily includes equity securities without readily determinable fair values that were adjusted based on observable price changes in orderly transactions from an identical or similar investment of the same issuer (measurement alternative) as a result of the adoption of the recognition and measurement guidance. Of the $826 million in level 3 assets measured at fair value on a nonrecurring basis as of September 30, 2018, $724 million |
Carrying value and estimated fair value of financial assets and liabilities | The following table presents by fair value hierarchy classification the carrying values and estimated fair values at September 30, 2018 , and December 31, 2017 , of financial assets and liabilities, excluding financial instruments that are carried at fair value on a recurring basis, and their classification within the fair value hierarchy. For additional information regarding the financial instruments within the scope of this disclosure, and the methods and significant assumptions used to estimate their fair value, refer to Note 2 of JPMorgan Chase’s 2017 Annual Report. September 30, 2018 December 31, 2017 Estimated fair value hierarchy Estimated fair value hierarchy (in billions) Carrying value Level 1 Level 2 Level 3 Total estimated fair value Carrying value Level 1 Level 2 Level 3 Total estimated fair value Financial assets Cash and due from banks $ 23.2 $ 23.2 $ — $ — $ 23.2 $ 25.9 $ 25.9 $ — $ — $ 25.9 Deposits with banks 395.9 392.2 3.7 — 395.9 405.4 401.8 3.6 — 405.4 Accrued interest and accounts receivable 77.7 — 77.6 0.1 77.7 67.0 — 67.0 — 67.0 Federal funds sold and securities purchased under resale agreements 205.4 — 205.4 — 205.4 183.7 — 183.7 — 183.7 Securities borrowed 117.9 — 117.9 — 117.9 102.1 — 102.1 — 102.1 Securities, held-to-maturity 31.4 — 30.9 — 30.9 47.7 — 48.7 — 48.7 Loans, net of allowance for loan losses (a) 938.2 — 227.3 710.0 937.3 914.6 — 213.2 707.1 920.3 Other (b) 55.0 — 54.1 1.0 55.1 53.9 — 52.1 9.2 61.3 Financial liabilities Deposits $ 1,438.3 $ — $ 1,438.4 $ — $ 1,438.4 $ 1,422.7 $ — $ 1,422.7 $ — $ 1,422.7 Federal funds purchased and securities loaned or sold under repurchase agreements 180.5 — 180.5 — 180.5 158.2 — 158.2 — 158.2 Short-term borrowings 56.7 — 56.7 — 56.7 42.6 — 42.4 0.2 42.6 Accounts payable and other liabilities 173.4 — 170.0 3.1 173.1 152.0 — 148.9 2.9 151.8 Beneficial interests issued by consolidated VIEs 20.2 — 20.2 — 20.2 26.0 — 26.0 — 26.0 Long-term debt and junior subordinated deferrable interest debentures 216.0 — 217.5 3.3 220.8 236.6 — 240.3 3.2 243.5 Effective January 1, 2018, the Firm adopted several new accounting standards. Certain of the new accounting standards were applied retrospectively and, accordingly, prior period amounts were revised. (a) Fair value is typically estimated using a discounted cash flow model that incorporates the characteristics of the underlying loans (including principal, contractual interest rate and contractual fees) and other key inputs, including expected lifetime credit losses, interest rates, prepayment rates, and primary origination or secondary market spreads. For certain loans, the fair value is measured based on the value of the underlying collateral. The difference between the estimated fair value and carrying value of a financial asset or liability is the result of the different methodologies used to determine fair value as compared with carrying value. For example, credit losses are estimated for a financial asset’s remaining life in a fair value calculation but are estimated for a loss emergence period in the allowance for loan loss calculation; future loan income (interest and fees) is incorporated in a fair value calculation but is generally not considered in the allowance for loan losses. For a further discussion of the Firm’s methodologies for estimating the fair value of loans and lending-related commitments, refer to Valuation hierarchy on pages 156–159 of JPMorgan Chase’s 2017 Annual Report. (b) |
The carrying value and estimated fair value of wholesale lending- related commitments | The majority of the Firm’s lending-related commitments are not carried at fair value on a recurring basis on the Consolidated balance sheets. The carrying value of the wholesale allowance for lending-related commitments and the estimated fair value of these wholesale lending-related commitments were as follows for the periods indicated. September 30, 2018 December 31, 2017 Estimated fair value hierarchy Estimated fair value hierarchy (in billions) Carrying value (a) Level 1 Level 2 Level 3 Total estimated fair value Carrying value (a) Level 1 Level 2 Level 3 Total estimated fair value Wholesale lending-related commitments $1.1 $— $— $1.5 $1.5 $1.1 $— $— $1.6 $1.6 (a) |
Schedule of equity securities without readily determinable fair values measured under the measurement alternative and related adjustments | The following table presents the carrying value of equity securities without readily determinable fair values still held as of September 30, 2018, that are measured under the measurement alternative and the related adjustments recorded during the periods presented for those securities with observable price changes. These securities are included in the nonrecurring fair value tables when applicable price changes are observable. As of or for the (in millions) Three months ended September 30, 2018 Nine months ended September 30, 2018 Other assets Carrying value $ 1,801 $ 1,801 Upward carrying value changes 14 540 Downward carrying value changes/impairment (127 ) (156 ) |
Fair Value Option (Tables)
Fair Value Option (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Changes in fair value under the fair value option election | The following table presents the changes in fair value included in the Consolidated statements of income for the three months ended September 30, 2018 and 2017 , for items for which the fair value option was elected. The profit and loss information presented below only includes the financial instruments that were elected to be measured at fair value; related risk management instruments, which are required to be measured at fair value, are not included in the table. Three months ended September 30, 2018 2017 (in millions) Principal transactions All other income Total changes in fair (e) Principal transactions All other income Total changes in fair value recorded (e) Federal funds sold and securities purchased under resale agreements $ (23 ) $ — $ (23 ) $ (17 ) $ — $ (17 ) Securities borrowed (24 ) — (24 ) (10 ) — (10 ) Trading assets: Debt and equity instruments, excluding loans (45 ) 5 (c) (40 ) 412 — 412 Loans reported as trading assets: Changes in instrument-specific credit risk 122 1 (c) 123 139 (2 ) (c) 137 Other changes in fair value (6 ) 49 (c) 43 111 249 (c) 360 Loans: Changes in instrument-specific credit risk (1 ) — (1 ) — — — Other changes in fair value 1 — 1 3 — 3 Other assets 2 16 (d) 18 3 (4 ) (d) (1 ) Deposits (a) 32 — 32 (117 ) — (117 ) Federal funds purchased and securities loaned or sold under repurchase agreements 8 — 8 2 — 2 Short-term borrowings (a) (25 ) — (25 ) (54 ) — (54 ) Trading liabilities 2 — 2 (3 ) — (3 ) Long-term debt (a)(b) 259 — 259 (793 ) — (793 ) Nine months ended September 30, 2018 2017 (in millions) Principal transactions All other income Total changes in fair value recorded (e) Principal transactions All other income Total changes in fair value recorded (e) Federal funds sold and securities purchased under resale agreements $ (49 ) $ — $ (49 ) $ (50 ) $ — $ (50 ) Securities borrowed (22 ) — (22 ) 80 — 80 Trading assets: — Debt and equity instruments, excluding loans (490 ) 6 (c) (484 ) 1,107 2 (c) 1,109 Loans reported as trading assets: — Changes in instrument-specific credit risk 458 5 (c) 463 382 13 (c) 395 Other changes in fair value 64 24 (c) 88 188 601 (c) 789 Loans: Changes in instrument-specific credit risk (2 ) — (2 ) (1 ) — (1 ) Other changes in fair value (1 ) (1 ) 4 3 (c) 7 Other assets 4 6 (d) 10 10 (26 ) (d) (16 ) Deposits (a) 371 — 371 (362 ) — (362 ) Federal funds purchased and securities loaned or sold under repurchase agreements 27 — 27 4 — 4 Other borrowed funds (a) 86 — 86 (485 ) — (485 ) Trading liabilities 1 — 1 (4 ) — (4 ) Long-term debt (a)(b) 1,486 — 1,486 (1,716 ) — (1,716 ) (a) Unrealized gains/(losses) due to instrument-specific credit risk (DVA) for liabilities for which the fair value option has been elected is recorded in OCI, while realized gains/(losses) are recorded in principal transactions revenue. Realized gains/(losses) due to instrument-specific credit risk recorded in principal transactions revenue were not material for the three and nine months ended September 30, 2018 and 2017 , respectively. (b) Long-term debt measured at fair value predominantly relates to structured notes. Although the risk associated with the structured notes is actively managed, the gains/(losses) reported in this table do not include the income statement impact of the risk management instruments used to manage such risk. (c) Reported in mortgage fees and related income. (d) Reported in other income. (e) Changes in fair value exclude contractual interest, which is included in interest income and interest expense for all instruments other than hybrid financial instruments. For further information regarding interest income and interest expense, refer to Note 6 |
Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding | The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of September 30, 2018 , and December 31, 2017 , for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected. September 30, 2018 December 31, 2017 (in millions) Contractual principal outstanding Fair value Fair value over/(under) contractual principal outstanding Contractual principal outstanding Fair value Fair value over/(under) contractual principal outstanding Loans (a) Nonaccrual loans Loans reported as trading assets $ 4,171 $ 1,189 $ (2,982 ) $ 4,219 $ 1,371 $ (2,848 ) Loans — — — 39 — (39 ) Subtotal 4,171 1,189 (2,982 ) 4,258 1,371 (2,887 ) All other performing loans Loans reported as trading assets 41,986 40,395 (1,591 ) 38,157 36,590 (1,567 ) Loans 3,039 2,987 (52 ) 2,539 2,508 (31 ) Total loans $ 49,196 $ 44,571 $ (4,625 ) $ 44,954 $ 40,469 $ (4,485 ) Long-term debt Principal-protected debt $ 31,858 (c) $ 27,518 $ (4,340 ) $ 26,297 (c) $ 23,848 $ (2,449 ) Nonprincipal-protected debt (b) NA 26,594 NA NA 23,671 NA Total long-term debt NA $ 54,112 NA NA $ 47,519 NA Long-term beneficial interests Nonprincipal-protected debt NA $ 17 NA NA $ 45 NA Total long-term beneficial interests NA $ 17 NA NA $ 45 NA (a) There were no performing loans that were ninety days or more past due as of September 30, 2018 , and December 31, 2017 , respectively. (b) Remaining contractual principal is not applicable to nonprincipal-protected notes. Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note. However, investors are exposed to the credit risk of the Firm as issuer for both nonprincipal-protected and principal-protected notes. (c) |
Fair value option, structured notes by balance sheet classification and primary embedded derivative risk | The following table presents the fair value of the structured notes issued by the Firm, by balance sheet classification and the primary risk type. September 30, 2018 December 31, 2017 (in millions) Long-term debt Short-term borrowings Deposits Total Long-term debt Short-term borrowings Deposits Total Risk exposure Interest rate $ 23,333 $ 616 $ 9,269 $ 33,218 $ 22,056 $ 69 $ 8,058 $ 30,183 Credit 3,771 483 — 4,254 4,329 1,312 — 5,641 Foreign exchange 2,930 96 37 3,063 2,841 147 38 3,026 Equity 21,950 6,258 7,330 35,538 17,581 7,106 6,548 31,235 Commodity 355 7 1,715 2,077 230 15 4,468 4,713 Total structured notes $ 52,339 $ 7,460 $ 18,351 $ 78,150 $ 47,037 $ 8,649 $ 19,112 $ 74,798 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of uses and disclosure of derivatives | The following table outlines the Firm’s primary uses of derivatives and the related hedge accounting designation or disclosure category. Type of Derivative Use of Derivative Designation and disclosure Affected segment or unit 10-Q page reference Manage specifically identified risk exposures in qualifying hedge accounting relationships: • Interest rate Hedge fixed rate assets and liabilities Fair value hedge Corporate 118-119 • Interest rate Hedge floating-rate assets and liabilities Cash flow hedge Corporate 120 • Foreign exchange Hedge foreign currency-denominated assets and liabilities Fair value hedge Corporate 118-119 • Foreign exchange Hedge foreign currency-denominated forecasted revenue and expense Cash flow hedge Corporate 120 • Foreign exchange Hedge the value of the Firm’s investments in non-U.S. dollar functional currency entities Net investment hedge Corporate 121 • Commodity Hedge commodity inventory Fair value hedge CIB 118-119 Manage specifically identified risk exposures not designated in qualifying hedge accounting relationships: • Interest rate Manage the risk of the mortgage pipeline, warehouse loans and MSRs Specified risk management CCB 121 • Credit Manage the credit risk of wholesale lending exposures Specified risk management CIB 121 • Interest rate and foreign exchange Manage the risk of certain other specified assets and liabilities Specified risk management Corporate 121 Market-making derivatives and other activities: • Various Market-making and related risk management Market-making and other CIB 121 • Various Other derivatives Market-making and other CIB, Corporate 121 |
Notional amount of derivative contracts | The following table summarizes the notional amount of derivative contracts outstanding as of September 30, 2018 , and December 31, 2017 . Notional amounts (b) (in billions) September 30, 2018 December 31, 2017 Interest rate contracts Swaps $ 25,236 $ 21,043 Futures and forwards 7,326 4,904 Written options 4,718 3,576 Purchased options 5,233 3,987 Total interest rate contracts 42,513 33,510 Credit derivatives (a) 1,603 1,522 Foreign exchange contracts Cross-currency swaps 3,893 3,953 Spot, futures and forwards 6,812 5,923 Written options 961 786 Purchased options 956 776 Total foreign exchange contracts 12,622 11,438 Equity contracts Swaps 402 367 Futures and forwards 106 90 Written options 596 531 Purchased options 543 453 Total equity contracts 1,647 1,441 Commodity contracts Swaps 140 116 Spot, futures and forwards 164 168 Written options 157 98 Purchased options 134 93 Total commodity contracts 595 475 Total derivative notional amounts $ 58,980 $ 48,386 (a) For more information on volumes and types of credit derivative contracts, refer to the Credit derivatives discussion on page 122 . (b) |
Impact of derivatives on the Consolidated Balance Sheets | The following table summarizes information on derivative receivables and payables (before and after netting adjustments) that are reflected on the Firm’s Consolidated balance sheets as of September 30, 2018 , and December 31, 2017 , by accounting designation (e.g., whether the derivatives were designated in qualifying hedge accounting relationships or not) and contract type. Free-standing derivative receivables and payables (a) Gross derivative receivables Gross derivative payables September 30, 2018 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated as hedges Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 260,636 $ 823 $ 261,459 $ 23,397 $ 234,232 $ 1 $ 234,233 $ 7,091 Credit 23,505 — 23,505 582 23,360 — 23,360 1,452 Foreign exchange 188,261 623 188,884 17,043 176,771 848 177,619 12,402 Equity 46,932 — 46,932 10,104 51,355 — 51,355 11,978 Commodity 22,175 193 22,368 8,936 22,749 90 22,839 8,770 Total fair value of trading assets and liabilities $ 541,509 $ 1,639 $ 543,148 $ 60,062 $ 508,467 $ 939 $ 509,406 $ 41,693 Gross derivative receivables Gross derivative payables December 31, 2017 Not designated as hedges Designated as hedges Total derivative receivables Net derivative receivables (b) Not designated as hedges Designated Total derivative payables Net derivative payables (b) Trading assets and liabilities Interest rate $ 314,962 (c) $ 1,030 (c) $ 315,992 $ 24,673 $ 284,433 (c) $ 3 (c) $ 284,436 $ 7,129 Credit 23,205 — 23,205 869 23,252 — 23,252 1,299 Foreign exchange 159,740 491 160,231 16,151 154,601 1,221 155,822 12,473 Equity 40,040 — 40,040 7,882 45,395 — 45,395 9,192 Commodity 20,066 19 20,085 6,948 21,498 403 21,901 7,684 Total fair value of trading assets and liabilities $ 558,013 (c) $ 1,540 (c) $ 559,553 $ 56,523 $ 529,179 (c) $ 1,627 (c) $ 530,806 $ 37,777 (a) Balances exclude structured notes for which the fair value option has been elected. Refer to Note 3 for further information. (b) As permitted under U.S. GAAP, the Firm has elected to net derivative receivables and derivative payables and the related cash collateral receivables and payables when a legally enforceable master netting agreement exists. (c) The prior period amounts have been revised to conform with the current period presentation. |
Offsetting assets | The following tables present, as of September 30, 2018 , and December 31, 2017 , gross and net derivative receivables and payables by contract and settlement type. Derivative receivables and payables, as well as the related cash collateral from the same counterparty have been netted on the Consolidated balance sheets where the Firm has obtained an appropriate legal opinion with respect to the master netting agreement. Where such a legal opinion has not been either sought or obtained, amounts are not eligible for netting on the Consolidated balance sheets, and those derivative receivables and payables are shown separately in the tables below. In addition to the cash collateral received and transferred that is presented on a net basis with derivative receivables and payables, the Firm receives and transfers additional collateral (financial instruments and cash). These amounts mitigate counterparty credit risk associated with the Firm’s derivative instruments, but are not eligible for net presentation: • collateral that consists of non-cash financial instruments (generally U.S. government and agency securities and other G7 government securities) and cash collateral held at third party custodians, which are shown separately as “Collateral not nettable on the Consolidated balance sheets” in the tables below, up to the fair value exposure amount. • the amount of collateral held or transferred that exceeds the fair value exposure at the individual counterparty level, as of the date presented, which is excluded from the tables below; and • collateral held or transferred that relates to derivative receivables or payables where an appropriate legal opinion has not been either sought or obtained with respect to the master netting agreement, which is excluded from the tables below. September 30, 2018 December 31, 2017 (in millions) Gross derivative receivables Amounts netted on the Consolidated balance sheets Net derivative receivables Gross derivative receivables Amounts netted on the Consolidated balance sheets Net derivative receivables U.S. GAAP nettable derivative receivables Interest rate contracts: Over-the-counter (“OTC”) $ 250,181 $ (230,533 ) $ 19,648 $ 305,569 $ (284,917 ) $ 20,652 OTC–cleared 7,512 (7,374 ) 138 6,531 (6,318 ) 213 Exchange-traded (a) 300 (155 ) 145 185 (84 ) 101 Total interest rate contracts 257,993 (238,062 ) 19,931 312,285 (291,319 ) 20,966 Credit contracts: OTC 12,502 (12,153 ) 349 15,390 (15,165 ) 225 OTC–cleared 10,806 (10,770 ) 36 7,225 (7,170 ) 55 Total credit contracts 23,308 (22,923 ) 385 22,615 (22,335 ) 280 Foreign exchange contracts: OTC 184,421 (171,163 ) 13,258 155,289 (142,420 ) 12,869 OTC–cleared 676 (659 ) 17 1,696 (1,654 ) 42 Exchange-traded (a) 42 (19 ) 23 141 (7 ) 134 Total foreign exchange contracts 185,139 (171,841 ) 13,298 157,126 (144,081 ) 13,045 Equity contracts: OTC 25,197 (22,380 ) 2,817 22,024 (19,917 ) 2,107 Exchange-traded (a) 16,789 (14,448 ) 2,341 14,188 (12,241 ) 1,947 Total equity contracts 41,986 (36,828 ) 5,158 36,212 (32,158 ) 4,054 Commodity contracts: OTC 12,497 (4,916 ) 7,581 10,903 (4,436 ) 6,467 Exchange-traded (a) 9,198 (8,516 ) 682 8,854 (8,701 ) 153 Total commodity contracts 21,695 (13,432 ) 8,263 19,757 (13,137 ) 6,620 Derivative receivables with appropriate legal opinion 530,121 (483,086 ) (b) 47,035 547,995 (503,030 ) (b) 44,965 Derivative receivables where an appropriate legal opinion has not been either sought or obtained 13,027 13,027 11,558 11,558 Total derivative receivables recognized on the Consolidated balance sheets $ 543,148 $ 60,062 $ 559,553 $ 56,523 Collateral not nettable on the Consolidated balance sheets (c)(d) (13,826 ) (13,363 ) Net amounts $ 46,236 $ 43,160 |
Offsetting liabilities | September 30, 2018 December 31, 2017 (in millions) Gross derivative payables Amounts netted on the Consolidated balance sheets Net derivative payables Gross derivative payables Amounts netted on the Consolidated balance sheets Net derivative payables U.S. GAAP nettable derivative payables Interest rate contracts: OTC $ 225,999 $ (220,369 ) $ 5,630 $ 276,960 $ (271,294 ) $ 5,666 OTC–cleared 6,650 (6,618 ) 32 6,004 (5,928 ) 76 Exchange-traded (a) 172 (155 ) 17 127 (84 ) 43 Total interest rate contracts 232,821 (227,142 ) 5,679 283,091 (277,306 ) 5,785 Credit contracts: OTC 13,133 (11,852 ) 1,281 16,194 (15,170 ) 1,024 OTC–cleared 10,062 (10,056 ) 6 6,801 (6,784 ) 17 Total credit contracts 23,195 (21,908 ) 1,287 22,995 (21,954 ) 1,041 Foreign exchange contracts: OTC 173,389 (164,557 ) 8,832 150,966 (141,789 ) 9,177 OTC–cleared 679 (654 ) 25 1,555 (1,553 ) 2 Exchange-traded (a) 25 (6 ) 19 98 (7 ) 91 Total foreign exchange contracts 174,093 (165,217 ) 8,876 152,619 (143,349 ) 9,270 Equity contracts: OTC 28,618 (24,869 ) 3,749 28,193 (23,969 ) 4,224 Exchange-traded (a) 16,234 (14,508 ) 1,726 12,720 (12,234 ) 486 Total equity contracts 44,852 (39,377 ) 5,475 40,913 (36,203 ) 4,710 Commodity contracts: OTC 13,607 (5,600 ) 8,007 12,645 (5,508 ) 7,137 Exchange-traded (a) 8,558 (8,469 ) 89 8,870 (8,709 ) 161 Total commodity contracts 22,165 (14,069 ) 8,096 21,515 (14,217 ) 7,298 Derivative payables with appropriate legal opinion 497,126 (467,713 ) (b) 29,413 521,133 (493,029 ) (b) 28,104 Derivative payables where an appropriate legal opinion has not been either sought or obtained 12,280 12,280 9,673 9,673 Total derivative payables recognized on the Consolidated balance sheets $ 509,406 $ 41,693 $ 530,806 $ 37,777 Collateral not nettable on the Consolidated balance sheets (c)(d) (3,566 ) (4,180 ) Net amounts $ 38,127 $ 33,597 (a) Exchange-traded derivative balances that relate to futures contracts are settled daily. (b) Net derivatives receivable included cash collateral netted of $55.5 billion at both September 30, 2018 , and December 31, 2017 , respectively. Net derivatives payable included cash collateral netted of $40.1 billion and $45.5 billion related to OTC and OTC-cleared derivatives at September 30, 2018 , and December 31, 2017 , respectively. (c) Represents liquid security collateral as well as cash collateral held at third party custodians related to derivative instruments where an appropriate legal opinion has been obtained. For some counterparties, the collateral amounts of financial instruments may exceed the derivative receivables and derivative payables balances. Where this is the case, the total amount reported is limited to the net derivative receivables and net derivative payables balances with that counterparty. (d) Derivative collateral relates only to OTC and OTC-cleared derivative instruments. |
Current credit risk of derivative receivables and liquidity risk of derivative payables | The following table shows the aggregate fair value of net derivative payables related to OTC and OTC-cleared derivatives that contain contingent collateral or termination features that may be triggered upon a ratings downgrade, and the associated collateral the Firm has posted in the normal course of business, at September 30, 2018 , and December 31, 2017 . OTC and OTC-cleared derivative payables containing downgrade triggers (in millions) September 30, 2018 December 31, 2017 Aggregate fair value of net derivative payables $ 10,103 $ 11,916 Collateral posted 8,926 9,973 The following table shows the impact of a single-notch and two-notch downgrade of the long-term issuer ratings of JPMorgan Chase & Co. and its subsidiaries , predominantly JPMorgan Chase Bank, National Association (“JPMorgan Chase Bank, N.A.”), at September 30, 2018 , and December 31, 2017 , related to OTC and OTC-cleared derivative contracts with contingent collateral or termination features that may be triggered upon a ratings downgrade. Derivatives contracts generally require additional collateral to be posted or terminations to be triggered when the predefined threshold rating is breached. A downgrade by a single rating agency that does not result in a rating lower than a preexisting corresponding rating provided by another major rating agency will generally not result in additional collateral, (except in certain instances in which additional initial margin may be required upon a ratings downgrade), nor in termination payments requirements. The liquidity impact in the table is calculated based upon a downgrade below the lowest current rating of the rating agencies referred to in the derivative contract. Liquidity impact of downgrade triggers on OTC and OTC-cleared derivatives September 30, 2018 December 31, 2017 (in millions) Single-notch downgrade Two-notch downgrade Single-notch downgrade Two-notch downgrade Amount of additional collateral to be posted upon downgrade (a) $ 116 $ 2,046 $ 79 $ 1,989 Amount required to settle contracts with termination triggers upon downgrade (b) 317 861 320 650 (a) Includes the additional collateral to be posted for initial margin. (b) |
Fair value hedge gains and losses | The following tables present derivative instruments, by contract type, used in fair value hedge accounting relationships, as well as pre-tax gains/(losses) recorded on such derivatives and the related hedged items for the three and nine months ended September 30, 2018 and 2017 , respectively. The Firm includes gains/(losses) on the hedging derivative in the same line item in the Consolidated statements of income as the related hedged item. Gains/(losses) recorded in income Income statement impact of (f) OCI impact Three months ended September 30, 2018 Derivatives Hedged items Income statement impact Amortization approach Changes in fair value Derivatives - Gains/(losses) recorded in OCI (g) Contract type Interest rate (a)(b) $ (870 ) $ 1,032 $ 162 $ — $ 160 $ — Foreign exchange (c) 277 (165 ) 112 (137 ) 112 45 Commodity (d) 454 (461 ) (7 ) — (5 ) — Total $ (139 ) $ 406 $ 267 $ (137 ) $ 267 $ 45 Gains/(losses) recorded in income Income statement impact due to: Three months ended September 30, 2017 Derivatives Hedged items Income statement impact Hedge ineffectiveness (e) Excluded components (f) Contract type Interest rate (a)(b) $ 22 $ 182 $ 204 $ (2 ) $ 206 Foreign exchange (c) (982 ) 1,002 20 — 20 Commodity (d) (457 ) 461 4 4 — Total $ (1,417 ) $ 1,645 $ 228 $ 2 $ 226 Gains/(losses) recorded in income Income statement impact of (f) OCI impact Nine months ended September 30, 2018 Derivatives Hedged items Income statement impact Amortization approach Changes in fair value Derivatives - Gains/(losses) recorded in OCI (g) Contract type Interest rate (a)(b) $ (2,747 ) $ 3,214 $ 467 $ — $ 459 $ — Foreign exchange (c) 797 (452 ) 345 (404 ) 345 (96 ) Commodity (d) 649 (626 ) 23 — 29 — Total $ (1,301 ) $ 2,136 $ 835 $ (404 ) $ 833 $ (96 ) Gains/(losses) recorded in income Income statement impact due to: Nine months ended September 30, 2017 Derivatives Hedged items Income statement impact Hedge ineffectiveness (e) Excluded components (f) Contract type Interest rate (a)(b) $ (131 ) $ 759 $ 628 $ (16 ) $ 644 Foreign exchange (c) (3,254 ) 3,235 (19 ) — (19 ) Commodity (d) (823 ) 861 38 23 15 Total $ (4,208 ) $ 4,855 $ 647 $ 7 $ 640 (a) Primarily consists of hedges of the benchmark (e.g., London Interbank Offered Rate (“LIBOR”)) interest rate risk of fixed-rate long-term debt and AFS securities. Gains and losses were recorded in net interest income. (b) Excludes the amortization expense associated with the inception hedge accounting adjustment applied to the hedged item. This expense is recorded in net interest income and substantially offsets the income statement impact of the excluded components. Also excludes the accrual of interest on interest rate swaps and the related hedged items. (c) Primarily consists of hedges of the foreign currency risk of long-term debt and AFS securities for changes in spot foreign currency rates. Gains and losses related to the derivatives and the hedged items due to changes in foreign currency rates and the income statement impact of excluded components were recorded primarily in principal transactions revenue and net interest income. (d) Consists of overall fair value hedges of physical commodities inventories that are generally carried at the lower of cost or net realizable value (net realizable value approximates fair value). Gains and losses were recorded in principal transactions revenue. (e) Hedge ineffectiveness is the amount by which the gain or loss on the designated derivative instrument does not exactly offset the gain or loss on the hedged item attributable to the hedged risk. (f) The assessment of hedge effectiveness excludes certain components of the changes in fair values of the derivatives and hedged items such as forward points on foreign exchange forward contracts, time values and cross-currency basis spreads. Under the new hedge accounting guidance, the initial amount of the excluded components may be amortized into income over the life of the derivative, or changes in fair value may be recognized in current period earnings. (g) |
Schedule of amounts recorded on Consolidated Balance Sheets related to certain cumulative fair value hedge basis adjustments | As of September 30, 2018 , the following amounts were recorded on the Consolidated balance sheets related to certain cumulative fair value hedge basis adjustments that are expected to reverse through the income statement in future periods as an adjustment to yield. Carrying amount of the hedged items (a)(b) Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged items: September 30, 2018 Active hedging relationships Discontinued hedging relationships (d) Total Assets Investment securities - AFS $ 47,896 (c) $ (2,292 ) $ 438 $ (1,854 ) Liabilities Long-term debt $ 135,239 $ (2,693 ) $ (5 ) $ (2,698 ) Beneficial interests issued by consolidated VIEs 6,976 — (42 ) (42 ) (a) Excludes physical commodities with a carrying value of $4.6 billion to which the Firm applies fair value hedge accounting. As a result of the application of hedge accounting, these inventories are carried at fair value, thus recognizing unrealized gains and losses in current periods. Given the Firm exits these positions at fair value, there is no incremental impact to net income in future periods. (b) Excludes hedged items where only foreign currency risk is the designated hedged risk, as basis adjustments related to foreign currency hedges will not reverse through the income statement in future periods. The carrying amount excluded for available-for-sale securities is $14.7 billion and for long-term debt is $7.2 billion . (c) Carrying amount represents the amortized cost. (d) |
Cash flow hedge gains and losses | The following tables present derivative instruments, by contract type, used in cash flow hedge accounting relationships, and the pre-tax gains/(losses) recorded on such derivatives, for the three and nine months ended September 30, 2018 and 2017 , respectively. The Firm includes the gain/(loss) on the hedging derivative in the same line item in the Consolidated statements of income as the change in cash flows on the related hedged item . Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2018 Amounts reclassified from AOCI to income Amounts recorded in OCI Total change Contract type Interest rate (a) $ 10 $ (30 ) $ (40 ) Foreign exchange (b) (19 ) (92 ) (73 ) Total $ (9 ) $ (122 ) $ (113 ) Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Three months ended September 30, 2017 Amounts reclassified from AOCI to income Amounts recorded in OCI (c) Total change Contract type Interest rate (a) $ 1 $ (1 ) $ (2 ) Foreign exchange (b) (11 ) 30 41 Total $ (10 ) $ 29 $ 39 Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2018 Amounts reclassified from AOCI to income Amounts recorded in OCI Total change in OCI for period Contract type Interest rate (a) $ 36 $ (141 ) $ (177 ) Foreign exchange (b) 26 (224 ) (250 ) Total $ 62 $ (365 ) $ (427 ) Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) Nine months ended September 30, 2017 Amounts reclassified from AOCI to income Amounts recorded in OCI (c) Total change Contract type Interest rate (a) $ (16 ) $ 11 $ 27 Foreign exchange (b) (144 ) 100 244 Total $ (160 ) $ 111 $ 271 (a) Primarily consists of benchmark interest rate hedges of LIBOR-indexed floating-rate assets and floating-rate liabilities. Gains and losses were recorded in net interest income. (b) Primarily consists of hedges of the foreign currency risk of non-U.S. dollar-denominated revenue and expense. The income statement classification of gains and losses follows the hedged item – primarily noninterest revenue and compensation expense. (c) |
Net investment hedge gains and losses | The following table presents hedging instruments, by contract type, that were used in net investment hedge accounting relationships, and the pre-tax gains/(losses) recorded on such instruments for the three and nine months ended September 30, 2018 and 2017 . 2018 2017 Three months ended September 30, Amounts recorded in income (a)(c) Amounts recorded in OCI Amounts recorded in income (a)(c) Amounts recorded in OCI (b) Foreign exchange derivatives $ 2 $ 311 $ (39 ) $ (286 ) 2018 2017 Nine months ended September 30, Amounts recorded in income (a)(c) Amounts recorded in OCI Amounts recorded in income (a)(c) Amounts recorded in OCI (b) Foreign exchange derivatives $ (5 ) $ 1,126 $ (150 ) $ (1,161 ) (a) Certain components of hedging derivatives are permitted to be excluded from the assessment of hedge effectiveness, such as forward points on foreign exchange forward contracts. The Firm elects to record changes in fair value of these amounts directly in other income. (b) Represents the effective portion of changes in value of the related hedging derivative. The Firm did not recognize any ineffectiveness on net investment hedges directly in income during the three and nine months ended September 30, 2017 . (c) |
Risk management derivatives gains and losses (not designated as hedging instruments) | The following table presents pre-tax gains/(losses) recorded on a limited number of derivatives, not designated in hedge accounting relationships, that are used to manage risks associated with certain specified assets and liabilities, including certain risks arising from the mortgage pipeline, warehouse loans, MSRs, wholesale lending exposures, and foreign currency-denominated assets and liabilities. Derivatives gains/(losses) recorded in income Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Contract type Interest rate (a) $ (42 ) $ 97 $ (277 ) $ 318 Credit (b) (7 ) (18 ) (17 ) (70 ) Foreign exchange (c) 52 (18 ) 152 (52 ) Total $ 3 $ 61 $ (142 ) $ 196 (a) Primarily represents interest rate derivatives used to hedge the interest rate risk inherent in the mortgage pipeline, warehouse loans and MSRs, as well as written commitments to originate warehouse loans. Gains and losses were recorded predominantly in mortgage fees and related income. (b) Relates to credit derivatives used to mitigate credit risk associated with lending exposures in the Firm’s wholesale businesses. These derivatives do not include credit derivatives used to mitigate counterparty credit risk arising from derivative receivables, which is included in gains and losses on derivatives related to market-making activities and other derivatives. Gains and losses were recorded in principal transactions revenue. (c) |
Credit derivatives table | Total credit derivatives and credit-related notes Maximum payout/Notional amount September 30, 2018 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (746,195 ) $ 754,889 $ 8,694 $ 6,341 Other credit derivatives (a) (38,928 ) 45,393 6,465 11,563 Total credit derivatives (785,123 ) 800,282 15,159 17,904 Credit-related notes (18 ) — (18 ) 7,653 Total $ (785,141 ) $ 800,282 $ 15,141 $ 25,557 Maximum payout/Notional amount December 31, 2017 (in millions) Protection sold Protection purchased with identical underlyings (b) Net protection (sold)/purchased (c) Other protection purchased (d) Credit derivatives Credit default swaps $ (690,224 ) $ 702,098 $ 11,874 $ 5,045 Other credit derivatives (a) (54,157 ) 59,158 5,001 11,747 Total credit derivatives (744,381 ) 761,256 16,875 16,792 Credit-related notes (18 ) — (18 ) 7,915 Total $ (744,399 ) $ 761,256 $ 16,857 $ 24,707 (a) Other credit derivatives largely consists of credit swap options. (b) Represents the total notional amount of protection purchased where the underlying reference instrument is identical to the reference instrument on protection sold; the notional amount of protection purchased for each individual identical underlying reference instrument may be greater or lower than the notional amount of protection sold. (c) Does not take into account the fair value of the reference obligation at the time of settlement, which would generally reduce the amount the seller of protection pays to the buyer of protection in determining settlement value. (d) |
Protection sold - credit derivatives and credit-related notes ratings/maturity profile | The following tables summarize the notional amounts by the ratings, maturity profile, and total fair value, of credit derivatives and credit-related notes as of September 30, 2018 , and December 31, 2017 , where JPMorgan Chase is the seller of protection. The maturity profile is based on the remaining contractual maturity of the credit derivative contracts. The ratings profile is based on the rating of the reference entity on which the credit derivative contract is based. The ratings and maturity profile of credit derivatives and credit-related notes where JPMorgan Chase is the purchaser of protection are comparable to the profile reflected below. Protection sold — credit derivatives and credit-related notes ratings (a) /maturity profile September 30, 2018 <1 year 1–5 years >5 years Total notional amount Fair value of receivables (b) Fair value of payables (b) Net fair value Risk rating of reference entity Investment-grade $ (116,930 ) $ (364,470 ) $ (71,226 ) $ (552,626 ) $ 8,043 $ (1,859 ) $ 6,184 Noninvestment-grade (53,103 ) (147,117 ) (32,295 ) (232,515 ) 8,337 (4,519 ) 3,818 Total $ (170,033 ) $ (511,587 ) $ (103,521 ) $ (785,141 ) $ 16,380 $ (6,378 ) $ 10,002 December 31, 2017 <1 year 1–5 years >5 years Total notional amount Fair value of receivables (b) Fair value of payables (b) Net fair value Risk rating of reference entity Investment-grade $ (159,286 ) $ (319,726 ) $ (39,429 ) $ (518,441 ) $ 8,516 $ (1,134 ) $ 7,382 Noninvestment-grade (73,394 ) (134,125 ) (18,439 ) (225,958 ) 7,407 (5,313 ) 2,094 Total $ (232,680 ) $ (453,851 ) $ (57,868 ) $ (744,399 ) $ 15,923 $ (6,447 ) $ 9,476 (a) The ratings scale is primarily based on external credit ratings defined by S&P and Moody’s. (b) |
Noninterest Revenue and Nonin_2
Noninterest Revenue and Noninterest Expense (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Noninterest Income (Expense) [Abstract] | |
Components of investment banking fees | The following table presents the components of investment banking fees. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Underwriting Equity $ 417 $ 302 $ 1,342 $ 1,105 Debt 836 945 2,596 2,873 Total underwriting 1,253 1,247 3,938 3,978 Advisory 579 621 1,798 1,616 Total investment banking fees $ 1,832 $ 1,868 $ 5,736 $ 5,594 |
Principal transactions revenue | The following table presents all realized and unrealized gains and losses recorded in principal transactions revenue. This table excludes interest income and interest expense on trading assets and liabilities, which are an integral part of the overall performance of the Firm’s client-driven market-making activities. Refer to Note 6 for further information on interest income and interest expense. Trading revenue is presented primarily by instrument type. The Firm’s client-driven market-making businesses generally utilize a variety of instrument types in connection with their market-making and related risk-management activities; accordingly, the trading revenue presented in the table below is not representative of the total revenue of any individual line of busi ness. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Trading revenue by instrument type Interest rate $ 338 $ 649 $ 1,784 $ 2,032 Credit 202 330 1,230 1,288 Foreign exchange 937 681 2,706 2,363 Equity 1,363 915 4,376 3,153 Commodity 277 156 800 461 Total trading revenue 3,117 2,731 10,896 9,297 Private equity gains/(losses) (a) (153 ) (10 ) (198 ) 143 Principal transactions $ 2,964 $ 2,721 $ 10,698 $ 9,440 (a) The third quarter of 2018 included markdowns of approximately $220 million on certain private equity investments in Corporate, with $170 million recorded within principal transactions revenue and $50 million |
Components of lending and deposit-related fees | The following table presents the components of lending- and deposit-related fees. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Lending-related fees $ 284 $ 280 $ 838 $ 824 Deposit-related fees 1,258 1,217 3,676 3,603 Total lending- and deposit-related fees $ 1,542 $ 1,497 $ 4,514 $ 4,427 |
Components of asset management, administration and commissions | The following table presents the components of Firmwide asset management, administration and commissions. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Asset management fees Investment management fees (a) $ 2,716 $ 2,636 $ 8,081 $ 7,603 All other asset management fees (b) 79 63 211 226 Total asset management fees 2,795 2,699 8,292 7,829 Total administration fees (c) 533 514 1,651 1,500 Commission and other fees Brokerage commissions 604 546 1,887 1,691 All other commissions and fees 378 313 1,093 976 Total commissions and fees 982 859 2,980 2,667 Total asset management, administration and commissions $ 4,310 $ 4,072 $ 12,923 $ 11,996 (a) Represents fees earned from managing assets on behalf of the Firm’s clients, including investors in Firm-sponsored funds and owners of separately managed investment accounts. (b) Represents fees for services that are ancillary to investment management services, such as commissions earned on the sales or distribution of mutual funds to clients. (c) |
Schedule of components of card income | The following table presents the components of card income: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Interchange and merchant processing income $ 4,781 $ 4,342 $ 13,863 $ 12,557 Rewards costs and partner payments (3,276 ) (2,727 ) (9,687 ) (b) (7,941 ) Other card income (a) (177 ) (373 ) (553 ) (1,293 ) Total card income $ 1,328 $ 1,242 $ 3,623 $ 3,323 (a) Predominantly represents annual fees and new account origination costs, which are deferred and recognized on a straight-line basis over a 12 -month period. (b) Includes an adjustment to the credit card rewards liability of approximately $330 million |
Schedule of amounts included in other income | Other income on the Firm’s Consolidated statements of income included the following: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Operating lease income $ 1,157 $ 928 $ 3,316 $ 2,625 |
Components of noninterest expense | Other expense on the Firm’s Consolidated statements of income included the following: Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Legal expense $ 20 $ (107 ) $ 90 $ 172 FDIC-related expense 349 353 1,100 1,110 |
Interest Income and Interest _2
Interest Income and Interest Expense (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Interest Income (Expense), Net [Abstract] | |
Details of interest income and interest expense | The following table presents the components of interest income and interest expense. Three months ended Nine months ended (in millions) 2018 2017 2018 2017 Interest income Loans (a) $ 12,207 $ 10,519 $ 34,915 $ 30,265 Taxable securities 1,402 1,362 4,098 4,202 Non-taxable securities (b) 394 456 1,199 1,393 Total investment securities (a) 1,796 1,818 5,297 5,595 Trading assets 2,155 1,947 6,369 5,611 Federal funds sold and securities purchased under resale agreements 952 622 2,490 1,676 Securities borrowed (c) 200 — 410 (65 ) Deposits with banks 1,585 1,259 4,449 3,002 All other interest-earning assets (d) 945 522 2,474 1,295 Total interest income 19,840 16,687 56,404 47,379 Interest expense Interest-bearing deposits 1,621 837 4,021 1,949 Federal funds purchased and securities loaned or sold under repurchase agreements 827 451 2,164 1,131 Short-term borrowings (e) 288 149 757 318 Trading liabilities – debt and all other interest-bearing liabilities (f) 1,018 570 2,579 1,490 Long-term debt 2,056 1,759 5,812 5,035 Beneficial interest issued by consolidated VIEs 122 123 366 386 Total interest expense 5,932 3,889 15,699 10,309 Net interest income 13,908 12,798 40,705 37,070 Provision for credit losses 948 1,452 3,323 3,982 Net interest income after provision for credit losses $ 12,960 $ 11,346 $ 37,382 $ 33,088 (a) Includes the amortization/accretion of unearned income (e.g., purchase premiums/discounts, net deferred fees/costs, etc.). (b) Represents securities which are tax-exempt for U.S. federal income tax purposes. (c) Negative interest income is related to client-driven demand for certain securities combined with the impact of low interest rates. This is matched book activity and the negative interest expense on the corresponding securities loaned is recognized in interest expense. (d) Includes held-for-investment margin loans, which are classified in accrued interest and accounts receivable, and all other interest-earning assets included in other assets on the Consolidated balance sheets. (e) Includes commercial paper. (f) Other interest-bearing liabilities include brokerage customer payables. |
Pension and Other Postretirem_2
Pension and Other Postretirement Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Components of net periodic benefit costs reported in the Consolidated Statements of Income | The following table presents the components of net periodic benefit costs reported in the Consolidated statements of income for the Firm’s U.S. and non-U.S. defined benefit pension, defined contribution and OPEB plans. (in millions) Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 2018 2017 2018 2017 Defined benefit pension plans OPEB plans Defined benefit pension plans OPEB plans Components of net periodic benefit cost Benefits earned during the period $ 88 $ 83 $ — $ — $ 267 $ 247 $ — $ — Interest cost on benefit obligations 139 148 6 7 417 447 18 21 Expected return on plan assets (246 ) (242 ) (25 ) (24 ) (741 ) (725 ) (77 ) (72 ) Amortization: Net (gain)/loss 26 63 — — 78 187 — — Prior service cost/(credit) (7 ) (9 ) — — (19 ) (27 ) — — Settlement — — — — — (3 ) — — Net periodic defined benefit cost (a) — 43 (19 ) (17 ) 2 126 (59 ) (51 ) Other defined benefit pension plans (b) 6 6 NA NA 21 16 NA NA Total defined benefit plans 6 49 (19 ) (17 ) 23 142 (59 ) (51 ) Total defined contribution plans 229 221 NA NA 661 617 NA NA Total pension and OPEB cost included in noninterest expense $ 235 $ 270 $ (19 ) $ (17 ) $ 684 $ 759 $ (59 ) $ (51 ) (a) Effective January 1, 2018, benefits earned during the period are reported in compensation expense; all other components of net periodic defined benefit costs are reported within other expense in the Consolidated statements of income. (b) |
Schedule of Fair Values of Plan Assets | The following table presents the fair values of plan assets for the U.S. defined benefit pension and OPEB plans and for the material non-U.S. defined benefit pension plans. (in billions) September 30, December 31, 2017 Fair value of plan assets Defined benefit pension plans $ 19.2 $ 19.6 OPEB plans 2.8 2.8 |
Employee Share-based Incentiv_2
Employee Share-based Incentives (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Noncash compensation expense related to employee stock-based incentive plans | The Firm recognized the following noncash compensation expense related to its various employee share-based incentive plans in its Consolidated statements of income. Three months ended Nine months ended (in millions) 2018 2017 2018 2017 Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods $ 282 $ 267 $ 956 $ 867 Accrual of estimated costs of share-based awards to be granted in future periods including those to full-career eligible employees 240 224 852 750 Total noncash compensation expense related to employee share-based incentive plans $ 522 $ 491 $ 1,808 $ 1,617 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized costs and estimated fair values | The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated. September 30, 2018 December 31, 2017 (in millions) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale securities Mortgage-backed securities: U.S. government agencies (a) $ 64,229 $ 389 $ 1,508 $ 63,110 $ 69,879 $ 736 $ 335 $ 70,280 Residential: U.S. 6,396 127 36 6,487 8,193 185 14 8,364 Non-U.S. 2,639 94 3 2,730 2,882 122 1 3,003 Commercial 7,151 79 182 7,048 4,932 98 5 5,025 Total mortgage-backed securities 80,415 689 1,729 79,375 85,886 1,141 355 86,672 U.S. Treasury and government agencies 27,526 486 196 27,816 22,510 266 31 22,745 Obligations of U.S. states and municipalities 36,659 1,580 118 38,121 30,490 1,881 33 32,338 Certificates of deposit 75 — — 75 59 — — 59 Non-U.S. government debt securities 24,398 321 45 24,674 26,900 426 32 27,294 Corporate debt securities 1,993 64 1 2,056 2,657 101 1 2,757 Asset-backed securities: Collateralized loan obligations 20,139 12 42 20,109 20,928 69 1 20,996 Other 7,761 70 27 7,804 8,764 77 24 8,817 Total available-for-sale debt securities 198,966 3,222 2,158 200,030 198,194 3,961 477 201,678 Available-for-sale equity securities (b) — — — — 547 — — 547 Total available-for-sale securities 198,966 3,222 2,158 200,030 198,741 3,961 477 202,225 Held-to-maturity securities Mortgage-backed securities: U.S. government agencies (c) 26,537 5 493 26,049 27,577 558 40 28,095 Commercial — — — — 5,783 1 74 5,710 Total mortgage-backed securities 26,537 5 493 26,049 33,360 559 114 33,805 Obligations of U.S. states and municipalities 4,831 69 31 4,869 14,373 554 80 14,847 Total held-to-maturity securities 31,368 74 524 30,918 47,733 1,113 194 48,652 Total investment securities $ 230,334 $ 3,296 $ 2,682 $ 230,948 $ 246,474 $ 5,074 $ 671 $ 250,877 (a) Includes total U.S. government-sponsored enterprise obligations with fair values of $44.2 billion and $45.8 billion at September 30, 2018 , and December 31, 2017 , respectively. (b) Effective January 1, 2018, the Firm adopted the recognition and measurement guidance. Equity securities that were previously reported as AFS securities were reclassified to other assets upon adoption. (c) Included total U.S. government-sponsored enterprise obligations with amortized cost of $20.6 billion and $22.0 billion at September 30, 2018 , and December 31, 2017 |
Securities impairment | The following tables present the fair value and gross unrealized losses for investment securities by aging category at September 30, 2018 , and December 31, 2017 . Investment securities with gross unrealized losses Less than 12 months 12 months or more September 30, 2018 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale securities Mortgage-backed securities: U.S. government agencies $ 37,109 $ 988 $ 10,492 $ 520 $ 47,601 $ 1,508 Residential: U.S. 1,343 20 860 16 2,203 36 Non-U.S. 635 2 180 1 815 3 Commercial 914 11 3,018 171 3,932 182 Total mortgage-backed securities 40,001 1,021 14,550 708 54,551 1,729 U.S. Treasury and government agencies 4,556 100 1,416 96 5,972 196 Obligations of U.S. states and municipalities 4,171 63 1,291 55 5,462 118 Certificates of deposit — — — — — — Non-U.S. government debt securities 4,237 16 1,798 29 6,035 45 Corporate debt securities — — 38 1 38 1 Asset-backed securities: Collateralized loan obligations 10,267 42 — — 10,267 42 Other 2,018 6 2,545 21 4,563 27 Total available-for-sale securities 65,250 1,248 21,638 910 86,888 2,158 Held-to-maturity securities Mortgage-backed securities U.S. government agencies 22,131 356 2,595 137 24,726 493 Commercial — — — — — — Total mortgage-backed securities 22,131 356 2,595 137 24,726 493 Obligations of U.S. states and municipalities 853 10 677 21 1,530 31 Total held-to-maturity securities 22,984 366 3,272 158 26,256 524 Total investment securities with gross unrealized losses $ 88,234 $ 1,614 $ 24,910 $ 1,068 $ 113,144 $ 2,682 Investment securities with gross unrealized losses Less than 12 months 12 months or more December 31, 2017 (in millions) Fair value Gross unrealized losses Fair value Gross unrealized losses Total fair value Total gross unrealized losses Available-for-sale securities Mortgage-backed securities: U.S. government agencies $ 36,037 $ 139 $ 7,711 $ 196 $ 43,748 $ 335 Residential: U.S. 1,112 5 596 9 $ 1,708 14 Non-U.S. — — 266 1 266 1 Commercial 528 4 335 1 863 5 Total mortgage-backed securities 37,677 148 8,908 207 46,585 355 U.S. Treasury and government agencies 1,834 11 373 20 2,207 31 Obligations of U.S. states and municipalities 949 7 1,652 26 2,601 33 Certificates of deposit — — — — — — Non-U.S. government debt securities 6,500 15 811 17 7,311 32 Corporate debt securities — — 52 1 52 1 Asset-backed securities: Collateralized loan obligations — — 276 1 276 1 Other 3,521 20 720 4 4,241 24 Total available-for-sale securities 50,481 201 12,792 276 63,273 477 Held-to-maturity securities Mortgage-backed securities U.S. government agencies 4,070 38 205 2 4,275 40 Commercial 3,706 41 1,882 33 5,588 74 Total mortgage-backed securities 7,776 79 2,087 35 9,863 114 Obligations of U.S. states and municipalities 584 9 2,131 71 2,715 80 Total held-to-maturity securities 8,360 88 4,218 106 12,578 194 Total investment securities with gross unrealized losses $ 58,841 $ 289 $ 17,010 $ 382 $ 75,851 $ 671 |
Securities gains and losses | The following table presents realized gains and losses and OTTI from AFS securities that were recognized in income. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Realized gains $ 58 $ 122 $ 137 $ 664 Realized losses (103 ) (123 ) (507 ) (696 ) OTTI losses (1 ) — (1 ) (6 ) Net investment securities losses $ (46 ) $ (1 ) $ (371 ) $ (38 ) OTTI losses Credit-related losses recognized in income $ — $ — $ — $ — Investment securities the Firm intends to sell (a) (1 ) — (1 ) (6 ) Total OTTI losses recognized in income $ (1 ) $ — $ (1 ) $ (6 ) (a) Excludes realized losses on securities sold of $21 million and $6 million for the nine months ended September 30, 2018 and 2017 |
Amortized cost and estimated fair value by contractual maturity | The following table presents the amortized cost and estimated fair value at September 30, 2018 , of JPMorgan Chase ’s investment securities portfolio by contractual maturity. By remaining maturity September 30, 2018 (in millions) Due in one year or less Due after one year through five years Due after five years through 10 years Due after 10 years (c) Total Available-for-sale securities Mortgage-backed securities (a) Amortized cost $ 258 $ 377 $ 5,746 $ 74,034 $ 80,415 Fair value 260 379 5,827 72,909 79,375 Average yield (b) 1.84 % 2.45 % 3.44 % 3.48 % 3.46 % U.S. Treasury and government agencies Amortized cost $ 84 $ 8,565 $ 13,644 $ 5,233 $ 27,526 Fair value 85 8,673 13,533 5,525 27,816 Average yield (b) 2.12 % 2.70 % 2.53 % 2.91 % 2.66 % Obligations of U.S. states and municipalities Amortized cost $ 103 $ 715 $ 2,783 $ 33,058 $ 36,659 Fair value 104 728 2,872 34,417 38,121 Average yield (b) 2.07 % 3.89 % 5.05 % 5.01 % 4.98 % Certificates of deposit Amortized cost $ 75 $ — $ — $ — $ 75 Fair value 75 — — — 75 Average yield (b) 0.49 % — % — % — % 0.49 % Non-U.S. government debt securities Amortized cost $ 4,289 $ 14,711 $ 5,398 $ — $ 24,398 Fair value 4,289 14,886 5,499 — 24,674 Average yield (b) 3.00 % 1.86 % 1.30 % — % 1.94 % Corporate debt securities Amortized cost $ 70 $ 914 $ 872 $ 137 $ 1,993 Fair value 70 936 905 145 2,056 Average yield (b) 4.04 % 4.40 % 4.57 % 4.73 % 4.48 % Asset-backed securities Amortized cost $ — $ 3,537 $ 5,345 $ 19,018 $ 27,900 Fair value — 3,515 5,347 19,051 27,913 Average yield (b) — % 2.83 % 3.19 % 3.04 % 3.04 % Total available-for-sale securities Amortized cost $ 4,879 $ 28,819 $ 33,788 $ 131,480 $ 198,966 Fair value 4,883 29,117 33,983 132,047 200,030 Average yield (b) 2.88 % 2.37 % 2.85 % 3.78 % 3.39 % Held-to-maturity securities Mortgage-backed securities (a) Amortized cost $ — $ — $ 2,765 $ 23,772 $ 26,537 Fair value — — 2,725 23,324 26,049 Average yield (b) — % — % 3.52 % 3.33 % 3.35 % Obligations of U.S. states and municipalities Amortized cost $ — $ — $ 20 $ 4,811 $ 4,831 Fair value — — 20 4,849 4,869 Average yield (b) — % — % 3.90 % 4.11 % 4.11 % Total held-to-maturity securities Amortized cost $ — $ — $ 2,785 $ 28,583 $ 31,368 Fair value — — 2,745 28,173 30,918 Average yield (b) — % — % 3.53 % 3.46 % 3.47 % (a) As of September 30, 2018 , mortgage-backed securities issued by Fannie Mae exceeded 10% of JPMorgan Chase ’s total stockholders’ equity; the amortized cost and fair value of such securities was $51.2 billion and $50.6 billion , respectively. (b) Average yield is computed using the effective yield of each security owned at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. The effective yield excludes unscheduled principal prepayments; and accordingly, actual maturities of securities may differ from their contractual or expected maturities as certain securities may be prepaid. (c) Includes investment securities with no stated maturity. Substantially all of the Firm’s U.S. residential MBS and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated weighted-average life, which reflects anticipated future prepayments, is approximately 7 years for agency residential MBS, 3 years for agency residential collateralized mortgage obligations and 3 years |
Securities Financing Activiti_2
Securities Financing Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Securities Financing Transactions Disclosures [Abstract] | |
Schedule of securities sold under repurchase agreements, netting & securities loaned | The table below summarizes the gross and net amounts of the Firm’s securities financing agreements as of September 30, 2018 and December 31, 2017 . When the Firm has obtained an appropriate legal opinion with respect to the master netting agreement with a counterparty and where other relevant netting criteria under U.S. GAAP are met, the Firm nets, on the Consolidated balance sheets, the balances outstanding under its securities financing agreements with the same counterparty. In addition, the Firm exchanges securities and/or cash collateral with its counterparties; this collateral also reduces the economic exposure with the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. the counterparty. Such collateral, along with securities financing balances that do not meet all these relevant netting criteria under U.S. GAAP, is presented as “Amounts not nettable on the Consolidated balance sheets,” and reduces the “Net amounts” presented below, if the Firm has an appropriate legal opinion with respect to the master netting agreement with the counterparty. Where a legal opinion has not been either sought or obtained, the securities financing balances are presented gross in the “Net amounts” below, and related collateral does not reduce the amounts presented. September 30, 2018 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 521,732 $ (304,110 ) $ 217,622 $ (205,345 ) $ 12,277 Securities borrowed 143,644 (21,210 ) 122,434 (89,771 ) 32,663 Liabilities Securities sold under repurchase agreements $ 472,560 $ (304,110 ) $ 168,450 $ (154,335 ) $ 14,115 Securities loaned and other (a) 38,720 (21,210 ) 17,510 (17,146 ) 364 December 31, 2017 (in millions) Gross amounts Amounts netted on the Consolidated balance sheets Amounts presented on the Consolidated balance sheets (b) Amounts not nettable on the Consolidated balance sheets (c) Net amounts (d) Assets Securities purchased under resale agreements $ 448,608 $ (250,505 ) $ 198,103 $ (188,502 ) $ 9,601 Securities borrowed 113,926 (8,814 ) 105,112 (76,805 ) 28,307 Liabilities Securities sold under repurchase agreements $ 398,218 $ (250,505 ) $ 147,713 $ (129,178 ) $ 18,535 Securities loaned and other (a) 27,228 (8,814 ) 18,414 (18,151 ) 263 (a) Includes securities-for-securities lending transactions of $5.2 billion and $9.2 billion at September 30, 2018 and December 31, 2017 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities in the Consolidated balance sheets. (b) Includes securities financing agreements accounted for at fair value. At September 30, 2018 and December 31, 2017 , included securities purchased under resale agreements of $12.2 billion and $14.7 billion , respectively and securities sold under agreements to repurchase of $1.1 billion and $697 million , respectively. There were $4.5 billion and $3.0 billion of securities borrowed at September 30, 2018 and December 31, 2017 , respectively. There were no securities loaned accounted for at fair value in either period. (c) In some cases, collateral exchanged with a counterparty exceeds the net asset or liability balance with that counterparty. In such cases, the amounts reported in this column are limited to the related asset or liability with that counterparty. (d) Includes securities financing agreements that provide collateral rights, but where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained. At September 30, 2018 and December 31, 2017 , included $6.4 billion and $7.5 billion , respectively, of securities purchased under resale agreements; $29.7 billion and $25.5 billion , respectively, of securities borrowed; $13.2 billion and $16.5 billion , respectively, of securities sold under agreements to repurchase; and $45 million and $29 million |
Schedule of types of assets pledged in secured financing transactions | The tables below present as of September 30, 2018 , and December 31, 2017 the types of financial assets pledged in securities financing agreements and the remaining contractual maturity of the securities financing agreements. Gross liability balance September 30, 2018 December 31, 2017 (in millions) Securities sold under repurchase agreements Securities loaned and other (a) Securities sold under repurchase agreements Securities loaned and other (a) Mortgage-backed securities U.S. government agencies 25,116 — 13,100 — Residential - nonagency 1,861 — 2,972 — Commercial - nonagency 1,431 — 1,594 — U.S. Treasury and government agencies 236,939 14 177,581 14 Obligations of U.S. states and municipalities 1,161 — 1,557 — Non-U.S. government debt 174,400 2,294 170,196 2,485 Corporate debt securities 15,474 216 14,231 287 Asset-backed securities 2,543 — 3,508 — Equity securities 13,635 36,196 13,479 24,442 Total $ 472,560 $ 38,720 $ 398,218 $ 27,228 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days September 30, 2018 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 195,713 $ 166,754 $ 46,511 $ 63,582 $ 472,560 Total securities loaned and other (a) 29,415 138 1,805 7,362 38,720 Remaining contractual maturity of the agreements Overnight and continuous Greater than 90 days December 31, 2017 (in millions) Up to 30 days 30 – 90 days Total Total securities sold under repurchase agreements $ 142,185 (b) $ 180,674 (b) $ 41,611 $ 33,748 $ 398,218 Total securities loaned and other (a) 22,876 375 2,328 1,649 27,228 (a) Includes securities-for-securities lending transactions of $5.2 billion and $9.2 billion at September 30, 2018 and December 31, 2017 , respectively, accounted for at fair value, where the Firm is acting as lender. These amounts are presented within other liabilities on the Consolidated balance sheets. (b) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loan portfolio segment descriptions | The Firm’s loan portfolio is divided into three portfolio segments, which are the same segments used by the Firm to determine the allowance for loan losses: Consumer, excluding credit card; Credit card; and Wholesale. Within each portfolio segment the Firm monitors and assesses the credit risk in the following classes of loans, based on the risk characteristics of each loan class. Consumer, excluding credit card (a) Credit card Wholesale (f) Residential real estate – excluding PCI • Residential mortgage (b) • Home equity (c) Other consumer loans (d) • Auto • Consumer & Business Banking (e) Residential real estate – PCI • Home equity • Prime mortgage • Subprime mortgage • Option ARMs • Credit card loans • Commercial and industrial • Real estate • Financial institutions • Government agencies • Other (g) (a) Includes loans held in CCB, prime mortgage and home equity loans held in AWM and prime mortgage loans held in Corporate . (b) Predominantly includes prime (including option ARMs) and subprime loans. (c) Includes senior and junior lien home equity loans. (d) Includes certain business banking and auto dealer risk-rated loans that apply the wholesale methodology for determining the allowance for loan losses; these loans are managed by CCB, and therefore, for consistency in presentation, are included with the other consumer loan classes. (e) Predominantly includes Business Banking loans. (f) Includes loans held in CIB, CB, AWM and Corporate. Excludes prime mortgage and home equity loans held in AWM and prime mortgage loans held in Corporate. Classes are internally defined and may not align with regulatory definitions. (g) Includes loans to: individuals (predominantly Wealth Management clients within AWM), SPEs, and private education and civic organizations. For more information on SPEs, refer to Note 14 of JPMorgan Chase ’s 2017 Annual Report |
Schedule of loans by portfolio segment | The following tables summarize the Firm’s loan balances by portfolio segment. September 30, 2018 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 375,958 $ 147,856 $ 423,837 $ 947,651 (b) Held-for-sale 104 25 3,551 3,680 At fair value — — 2,987 2,987 Total $ 376,062 $ 147,881 $ 430,375 $ 954,318 December 31, 2017 Consumer, excluding credit card Credit card (a) Wholesale Total (in millions) Retained $ 372,553 $ 149,387 $ 402,898 $ 924,838 (b) Held-for-sale 128 124 3,099 3,351 At fair value — — 2,508 2,508 Total $ 372,681 $ 149,511 $ 408,505 $ 930,697 (a) Includes accrued interest and fees net of an allowance for the uncollectible portion of accrued interest and fee income. (b) Loans (other than PCI loans and loans for which the fair value option has been elected) are presented net of unamortized discounts and premiums, and net deferred loan fees or costs. These amounts were not material as of September 30, 2018 , and December 31, 2017 The following table provides information about retained consumer loans, excluding credit card, by class. In 2017, the Firm sold its student loan portfolio. (in millions) September 30, December 31, Residential real estate – excluding PCI Residential mortgage $ 231,361 $ 216,496 Home equity 29,318 33,450 Other consumer loans Auto 63,619 66,242 Consumer & Business Banking 26,451 25,789 Residential real estate – PCI Home equity 9,393 10,799 Prime mortgage 4,931 6,479 Subprime mortgage 2,072 2,609 Option ARMs 8,813 10,689 Total retained loans $ 375,958 $ 372,553 |
Schedule of retained loans purchased, sold and reclassified to held-for-sale | The following tables provide information about the carrying value of retained loans purchased, sold and reclassified to held-for-sale during the periods indicated. Reclassifications of loans to held-for sale are non-cash transactions. The Firm manages its exposure to credit risk on an ongoing basis. Selling loans is one way that the Firm reduces its credit exposures. Loans that were reclassified to held-for-sale and sold in a subsequent period are excluded from the sales line of this table. 2018 2017 Three months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 561 (a)(b) $ — $ 285 $ 846 $ 711 (a)(b) $ — $ 479 $ 1,190 Sales 1,789 — 4,197 5,986 672 — 3,342 4,014 Retained loans reclassified to held-for-sale — — 666 666 — — 367 367 2018 2017 Nine months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Purchases $ 2,164 (a)(b) $ — $ 1,915 $ 4,079 $ 2,277 (a)(b) $ — $ 1,357 $ 3,634 Sales 4,661 — 12,829 17,490 2,025 — 8,166 10,191 Retained loans reclassified to held-for-sale 36 — 1,926 1,962 6,340 (c) — 961 7,301 (a) Purchases predominantly represent the Firm’s voluntary repurchase of certain delinquent loans from loan pools as permitted by Government National Mortgage Association (“Ginnie Mae”) guidelines. The Firm typically elects to repurchase these delinquent loans as it continues to service them and/or manage the foreclosure process in accordance with applicable requirements of Ginnie Mae, FHA, RHS, and/or VA. (b) Excludes purchases of retained loans sourced through the correspondent origination channel and underwritten in accordance with the Firm’s standards. Such purchases were $5.6 billion and $6.9 billion for the three months ended September 30, 2018 and 2017 , respectively, and $14.5 billion and $18.2 billion for the nine months ended September 30, 2018 and 2017 , respectively. (c) |
Schedule of financing receivable credit quality indicators | The following table represents the Firm’s delinquency statistics for PCI junior lien home equity loans and lines of credit based on the unpaid principal balance as of September 30, 2018 , and December 31, 2017 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 6 $ 51 — % 1.96 % Beyond the revolving period (c) 6,837 7,875 3.79 4.63 HELOANs 296 360 3.38 5.28 Total $ 7,139 $ 8,286 3.77 % 4.65 % (a) In general, these HELOCs are revolving loans for a 10 -year period, after which time the HELOC converts to an interest-only loan with a balloon payment at the end of the loan’s term. (b) Substantially all undrawn HELOCs within the revolving period have been closed. (c) The table below sets forth information about the Firm’s consumer, excluding credit card, PCI loans. Home equity Prime mortgage Subprime mortgage Option ARMs Total PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Carrying value (a) $ 9,393 $ 10,799 $ 4,931 $ 6,479 $ 2,072 $ 2,609 $ 8,813 $ 10,689 $ 25,209 $ 30,576 Loan delinquency (based on unpaid principal balance) Current $ 9,047 $ 10,272 $ 4,429 $ 5,839 $ 2,152 $ 2,640 $ 7,904 $ 9,662 $ 23,532 $ 28,413 30–149 days past due 257 356 269 336 297 381 427 547 1,250 1,620 150 or more days past due 263 392 257 327 143 176 526 689 1,189 1,584 Total loans $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 % of 30+ days past due to total loans 5.44 % 6.79 % 10.62 % 10.20 % 16.98 % 17.42 % 10.76 % 11.34 % 9.39 % 10.13 % Current estimated LTV ratios (based on unpaid principal balance) (b)(c) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 17 $ 33 $ 1 $ 4 $ — $ 2 $ 3 $ 6 $ 21 $ 45 Less than 660 15 21 10 16 12 20 8 9 45 66 101% to 125% and refreshed FICO scores: Equal to or greater than 660 153 274 7 16 8 20 24 43 192 353 Less than 660 73 132 24 42 38 75 46 71 181 320 80% to 100% and refreshed FICO scores: Equal to or greater than 660 846 1,195 92 221 62 119 145 316 1,145 1,851 Less than 660 394 559 132 230 192 309 220 371 938 1,469 Lower than 80% and refreshed FICO scores: Equal to or greater than 660 5,627 6,134 2,791 3,551 753 895 5,235 6,113 14,406 16,693 Less than 660 1,940 2,095 1,649 2,103 1,403 1,608 2,792 3,499 7,784 9,305 No FICO/LTV available 502 577 249 319 124 149 384 470 1,259 1,515 Total unpaid principal balance $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 Geographic region (based on unpaid principal balance) California $ 5,678 $ 6,555 $ 2,706 $ 3,716 $ 627 $ 797 $ 4,966 $ 6,225 $ 13,977 $ 17,293 Florida 1,014 1,137 351 428 249 296 753 878 2,367 2,739 New York 543 607 383 457 282 330 538 628 1,746 2,022 Washington 442 532 103 135 46 61 185 238 776 966 Illinois 242 273 164 200 131 161 211 249 748 883 New Jersey 217 242 145 178 94 110 283 336 739 866 Massachusetts 67 79 118 149 78 98 252 307 515 633 Maryland 51 57 104 129 106 132 188 232 449 550 Virginia 56 66 94 123 39 51 234 280 423 520 Arizona 175 203 70 106 45 60 121 156 411 525 All other 1,082 1,269 717 881 895 1,101 1,126 1,369 3,820 4,620 Total unpaid principal balance $ 9,567 $ 11,020 $ 4,955 $ 6,502 $ 2,592 $ 3,197 $ 8,857 $ 10,898 $ 25,971 $ 31,617 (a) Carrying value includes the effect of fair value adjustments that were applied to the consumer PCI portfolio at the date of acquisition. (b) Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (c) The following table provides information by class for retained residential real estate – excluding PCI loans. Residential real estate – excluding PCI loans (in millions, except ratios) Residential mortgage Home equity Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loan delinquency (a) Current $ 225,799 $ 208,713 $ 28,554 $ 32,391 $ 254,353 $ 241,104 30–149 days past due 2,825 4,234 470 671 3,295 4,905 150 or more days past due 2,737 3,549 294 388 3,031 3,937 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 % of 30+ days past due to total retained loans (b) 0.51 % 0.77 % 2.61 % 3.17 % 0.75 % 1.09 % 90 or more days past due and government guaranteed (c) $ 2,828 $ 4,172 $ — $ — $ 2,828 $ 4,172 Nonaccrual loans 1,880 2,175 1,382 1,610 3,262 3,785 Current estimated LTV ratios (d)(e) Greater than 125% and refreshed FICO scores: Equal to or greater than 660 $ 28 $ 37 $ 6 $ 10 $ 34 $ 47 Less than 660 30 19 1 3 31 22 101% to 125% and refreshed FICO scores: Equal to or greater than 660 20 36 138 296 158 332 Less than 660 60 88 46 95 106 183 80% to 100% and refreshed FICO scores: Equal to or greater than 660 3,606 4,369 1,059 1,676 4,665 6,045 Less than 660 314 483 359 569 673 1,052 Less than 80% and refreshed FICO scores: Equal to or greater than 660 212,585 194,758 22,851 25,262 235,436 220,020 Less than 660 6,734 6,952 3,501 3,850 10,235 10,802 No FICO/LTV available 888 1,259 1,357 1,689 2,245 2,948 U.S. government-guaranteed 7,096 8,495 — — 7,096 8,495 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 Geographic region California $ 74,324 $ 68,855 $ 5,852 $ 6,582 $ 80,176 $ 75,437 New York 29,146 27,473 6,016 6,866 35,162 34,339 Illinois 15,242 14,501 2,208 2,521 17,450 17,022 Texas 13,926 12,508 1,843 2,021 15,769 14,529 Florida 10,624 9,598 1,619 1,847 12,243 11,445 New Jersey 7,448 7,142 1,702 1,957 9,150 9,099 Washington 8,057 6,962 904 1,026 8,961 7,988 Colorado 8,131 7,335 525 632 8,656 7,967 Massachusetts 6,545 6,323 246 295 6,791 6,618 Arizona 4,519 4,109 1,211 1,439 5,730 5,548 All other (f) 53,399 51,690 7,192 8,264 60,591 59,954 Total retained loans $ 231,361 $ 216,496 $ 29,318 $ 33,450 $ 260,679 $ 249,946 (a) Individual delinquency classifications include mortgage loans insured by U.S. government agencies as follows: current included $2.7 billion and $2.4 billion ; 30 – 149 days past due included $2.2 billion and $3.2 billion ; and 150 or more days past due included $2.2 billion and $2.9 billion at September 30, 2018 , and December 31, 2017 , respectively. (b) At September 30, 2018 , and December 31, 2017 , residential mortgage loans excluded mortgage loans insured by U.S. government agencies of $4.4 billion and $6.1 billion , respectively, that are 30 or more days past due. These amounts have been excluded based upon the government guarantee. (c) These balances, which are 90 days or more past due, were excluded from nonaccrual loans as the loans are guaranteed by U.S government agencies. Typically the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting agreed-upon servicing guidelines. At September 30, 2018 , and December 31, 2017 , these balances included $1.3 billion and $1.5 billion , respectively, of loans that are no longer accruing interest based on the agreed-upon servicing guidelines. For the remaining balance, interest is being accrued at the guaranteed reimbursement rate. There were no loans that were not guaranteed by U.S. government agencies that are 90 or more days past due and still accruing interest at September 30, 2018 , and December 31, 2017 . (d) Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. These property values do not represent actual appraised loan level collateral values; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property. (e) Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis. (f) At September 30, 2018 , and December 31, 2017 , included mortgage loans insured by U.S. government agencies of $7.1 billion and $8.5 billion The table below provides information for other consumer retained loan classes, including auto and business banking loans. (in millions, except ratios) Auto Consumer & Business Banking Total other consumer Sep 30, 2018 Dec 31, 2017 Sep 30, 2018 Dec 31, 2017 Sep 30, 2018 Dec 31, 2017 Loan delinquency Current $ 63,095 $ 65,651 $ 26,170 $ 25,454 $ 89,265 $ 91,105 30–119 days past due 517 584 183 213 700 797 120 or more days past due 7 7 98 122 105 129 Total retained loans $ 63,619 $ 66,242 $ 26,451 $ 25,789 $ 90,070 $ 92,031 % of 30+ days past due to total retained loans 0.82 % 0.89 % 1.06 % 1.30 % 0.89 % 1.01 % Nonaccrual loans (a) 137 141 237 283 374 424 Geographic region California $ 8,382 $ 8,445 $ 5,375 $ 5,032 $ 13,757 $ 13,477 Texas 6,497 7,013 3,002 2,916 9,499 9,929 New York 3,843 4,023 4,218 4,195 8,061 8,218 Illinois 3,667 3,916 2,045 2,017 5,712 5,933 Florida 3,332 3,350 1,484 1,424 4,816 4,774 Arizona 2,061 2,221 1,451 1,383 3,512 3,604 Ohio 1,987 2,105 1,346 1,380 3,333 3,485 New Jersey 1,990 2,044 738 721 2,728 2,765 Michigan 1,378 1,418 1,332 1,357 2,710 2,775 Louisiana 1,570 1,656 860 849 2,430 2,505 All other 28,912 30,051 4,600 4,515 33,512 34,566 Total retained loans $ 63,619 $ 66,242 $ 26,451 $ 25,789 $ 90,070 $ 92,031 Loans by risk ratings (b) Noncriticized $ 14,193 $ 15,604 $ 18,644 $ 17,938 $ 32,837 $ 33,542 Criticized performing 337 93 760 791 1,097 884 Criticized nonaccrual 3 9 195 213 198 222 (a) There were no loans that were 90 or more days past due and still accruing interest at September 30, 2018 , and December 31, 2017 . (b) For risk-rated business banking and auto loans, the primary credit quality indicator is the risk rating of the loan, including whether the loans are considered to be criticized and/or nonaccrual. Approximately 37% of the home equity portfolio are senior lien loans; the remaining balance are junior lien HELOANs or HELOCs. The following table represents the Firm’s delinquency statistics for junior lien home equity loans and lines of credit as of September 30, 2018 , and December 31, 2017 . Total loans Total 30+ day delinquency rate (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, HELOCs: (a) Within the revolving period (b) $ 5,482 $ 6,363 0.22 % 0.50 % Beyond the revolving period 11,982 13,532 2.78 3.56 HELOANs 1,104 1,371 2.99 3.50 Total $ 18,568 $ 21,266 2.04 % 2.64 % (a) These HELOCs are predominantly revolving loans for a 10 -year period, after which time the HELOC converts to a loan with a 20 -year amortization period, but also include HELOCs that allow interest-only payments beyond the revolving period. (b) The table below sets forth information about the Firm’s credit card loans. (in millions, except ratios) September 30, December 31, Loan delinquency Current and less than 30 days past due and still accruing $ 145,271 $ 146,704 30–89 days past due and still accruing 1,323 1,305 90 or more days past due and still accruing 1,262 1,378 Total retained credit card loans $ 147,856 $ 149,387 Loan delinquency ratios % of 30+ days past due to total retained loans 1.75 % 1.80 % % of 90+ days past due to total retained loans 0.85 0.92 Credit card loans by geographic region California $ 22,166 $ 22,245 Texas 14,171 14,200 New York 12,908 13,021 Florida 9,064 9,138 Illinois 8,482 8,585 New Jersey 6,345 6,506 Ohio 4,803 4,997 Pennsylvania 4,677 4,883 Colorado 4,090 4,006 Michigan 3,710 3,826 All other 57,440 57,980 Total retained credit card loans $ 147,856 $ 149,387 Percentage of portfolio based on carrying value with estimated refreshed FICO scores Equal to or greater than 660 83.7 % 84.0 % Less than 660 14.9 14.6 No FICO available 1.4 1.4 The following table presents additional information on the real estate class of loans within the Wholesale portfolio for the periods indicated. For further information on real estate loans, refer to Note 12 of JPMorgan Chase ’s 2017 Annual Report . (in millions, except ratios) Multifamily Other commercial Total real estate loans Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Real estate retained loans $ 79,112 $ 77,597 $ 36,184 $ 36,051 $ 115,296 $ 113,648 Criticized exposure 383 491 351 355 734 846 % of total criticized exposure to total real estate retained loans 0.48 % 0.63 % 0.97 % 0.98 % 0.64 % 0.74 % Criticized nonaccrual $ 47 $ 44 $ 83 $ 92 $ 130 $ 136 % of criticized nonaccrual loans to total real estate retained loans 0.06 % 0.06 % 0.23 % 0.26 % 0.11 % 0.12 % The table below provides information by class of receivable for the retained loans in the Wholesale portfolio segment. Commercial and industrial Real estate Financial Government agencies Other (d) Total (in millions, except ratios) Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Loans by risk ratings Investment-grade $ 66,968 $ 68,071 $ 100,036 $ 98,467 $ 31,194 $ 26,791 $ 14,435 $ 15,140 $ 111,710 $ 103,212 $ 324,343 $ 311,681 Noninvestment-grade: Noncriticized 51,758 46,558 14,526 14,335 14,374 13,071 168 369 13,288 9,988 94,114 84,321 Criticized performing 3,429 3,983 604 710 142 210 — — 211 259 4,386 5,162 Criticized nonaccrual 696 1,357 130 136 2 2 — — 166 239 994 1,734 Total noninvestment- grade 55,883 51,898 15,260 15,181 14,518 13,283 168 369 13,665 10,486 99,494 91,217 Total retained loans $ 122,851 $ 119,969 $ 115,296 $ 113,648 $ 45,712 $ 40,074 $ 14,603 $ 15,509 $ 125,375 $ 113,698 $ 423,837 $ 402,898 % of total criticized exposure to total retained loans 3.36 % 4.45 % 0.64 % 0.74 % 0.32 % 0.53 % — % — % 0.30 % 0.44 % 1.27 % 1.71 % % of criticized nonaccrual to total retained loans 0.57 1.13 0.11 0.12 — — — — 0.13 0.21 0.23 0.43 Loans by geographic distribution (a) Total non-U.S. $ 30,435 $ 28,470 $ 2,741 $ 3,101 $ 17,748 $ 16,790 $ 2,973 $ 2,906 $ 49,030 $ 44,112 $ 102,927 $ 95,379 Total U.S. 92,416 91,499 112,555 110,547 27,964 23,284 11,630 12,603 76,345 69,586 320,910 307,519 Total retained loans $ 122,851 $ 119,969 $ 115,296 $ 113,648 $ 45,712 $ 40,074 $ 14,603 $ 15,509 $ 125,375 $ 113,698 $ 423,837 $ 402,898 Loan delinquency (b) Current and less than 30 days past due and still accruing $ 121,913 $ 118,288 $ 115,098 $ 113,258 $ 45,671 $ 40,042 $ 14,585 $ 15,493 $ 124,097 $ 112,559 $ 421,364 $ 399,640 30–89 days past due and still accruing 211 216 52 242 38 15 15 12 1,110 898 1,426 1,383 90 or more days past due and still accruing (c) 31 108 16 12 1 15 3 4 2 2 53 141 Criticized nonaccrual 696 1,357 130 136 2 2 — — 166 239 994 1,734 Total retained loans $ 122,851 $ 119,969 $ 115,296 $ 113,648 $ 45,712 $ 40,074 $ 14,603 $ 15,509 $ 125,375 $ 113,698 $ 423,837 $ 402,898 (a) The U.S. and non-U.S. distribution is determined based predominantly on the domicile of the borrower. (b) The credit quality of wholesale loans is assessed primarily through ongoing review and monitoring of an obligor’s ability to meet contractual obligations rather than relying on the past due status, which is generally a lagging indicator of credit quality. For a further discussion, refer to Note 12 of JPMorgan Chase ’s 2017 Annual Report . (c) Represents loans that are considered well-collateralized and therefore still accruing interest. (d) Other includes individuals (predominantly Wealth Management clients within AWM), SPEs, and private education and civic organizations. For more information on SPEs, refer to Note 14 of JPMorgan Chase ’s 2017 Annual Report |
Schedule of impaired financing receivables | The table below sets forth information about the Firm’s residential real estate impaired loans, excluding PCI loans. These loans are considered to be impaired as they have been modified in a TDR. All impaired loans are evaluated for an asset-specific allowance as described in Note 13 of JPMorgan Chase ’s 2017 Annual Report . Residential mortgage Home equity Total residential real estate – excluding PCI Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 3,558 $ 4,407 $ 1,177 $ 1,236 $ 4,735 $ 5,643 Without an allowance (a) 1,164 1,213 879 882 2,043 2,095 Total impaired loans (b)(c) $ 4,722 $ 5,620 $ 2,056 $ 2,118 $ 6,778 $ 7,738 Allowance for loan losses related to impaired loans $ 97 $ 62 $ 42 $ 111 $ 139 $ 173 Unpaid principal balance of impaired loans (d) 6,439 7,741 3,537 3,701 9,976 11,442 Impaired loans on nonaccrual status (e) 1,536 1,743 993 1,032 2,529 2,775 (a) Represents collateral-dependent residential real estate loans that are charged off to the fair value of the underlying collateral less cost to sell. The Firm reports, in accordance with regulatory guidance, residential real estate loans that have been discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (“Chapter 7 loans”) as collateral-dependent nonaccrual TDRs, regardless of their delinquency status. At September 30, 2018 , Chapter 7 residential real estate loans included approximately 13% of residential mortgages and 9% of home equity that were 30 days or more past due. (b) At September 30, 2018 , and December 31, 2017 , $4.0 billion and $3.8 billion , respectively, of loans modified subsequent to repurchase from Ginnie Mae in accordance with the standards of the appropriate government agency (i.e., FHA, VA, RHS) are not included in the table above. When such loans perform subsequent to modification in accordance with Ginnie Mae guidelines, they are generally sold back into Ginnie Mae loan pools. Modified loans that do not re-perform become subject to foreclosure. (c) Predominantly all residential real estate impaired loans, excluding PCI loans, are in the U.S. (d) Represents the contractual amount of principal owed at September 30, 2018 , and December 31, 2017 . The unpaid principal balance differs from the impaired loan balances due to various factors including charge-offs, net deferred loan fees or costs, and unamortized discounts or premiums on purchased loans. (e) At September 30, 2018 and December 31, 2017 , nonaccrual loans included $2.0 billion and $2.2 billion , respectively, of TDRs for which the borrowers were less than 90 days past due. For additional information about loans modified in a TDR that are on nonaccrual status refer to the Loan accounting framework in Note 12 of JPMorgan Chase ’s 2017 Annual Report The table below sets forth information about the Firm’s other consumer impaired loans, including risk-rated business banking and auto loans that have been placed on nonaccrual status, and loans that have been modified in TDRs. (in millions) September 30, December 31, Impaired loans With an allowance $ 227 $ 272 Without an allowance (a) 41 26 Total impaired loans (b)(c) $ 268 $ 298 Allowance for loan losses related to impaired loans $ 65 $ 73 Unpaid principal balance of impaired loans (d) 372 402 Impaired loans on nonaccrual status 244 268 (a) When discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged off and/or there have been interest payments received and applied to the loan balance. (b) Predominantly all other consumer impaired loans are in the U.S. (c) Other consumer average impaired loans were $271 million and $366 million for the three months ended September 30, 2018 and 2017 , respectively, and $281 million and $459 million for the nine months ended September 30, 2018 and 2017 , respectively. The related interest income on impaired loans, including those on a cash basis, was not material for the three and nine months ended September 30, 2018 and 2017 . (d) Represents the contractual amount of principal owed at September 30, 2018 , and December 31, 2017 The table below sets forth information about the Firm’s impaired credit card loans. All of these loans are considered to be impaired as they have been modified in TDRs. (in millions) September 30, December 31, Impaired credit card loans with an allowance (a)(b) Credit card loans with modified payment terms (c) $ 1,228 $ 1,135 Modified credit card loans that have reverted to pre-modification payment terms (d) 56 80 Total impaired credit card loans (e) $ 1,284 $ 1,215 Allowance for loan losses related to impaired credit card loans $ 421 $ 383 (a) The carrying value and the unpaid principal balance are the same for credit card impaired loans. (b) There were no impaired loans without an allowance. (c) Represents credit card loans outstanding to borrowers enrolled in a credit card modification program as of the date presented. (d) Represents credit card loans that were modified in TDRs but that have subsequently reverted back to the loans’ pre-modification payment terms. At September 30, 2018 , and December 31, 2017 , $26 million and $43 million , respectively, of loans have reverted back to the pre-modification payment terms of the loans due to noncompliance with the terms of the modified loans. The remaining $30 million and $37 million at September 30, 2018 , and December 31, 2017 , respectively, of these loans are to borrowers who have successfully completed a short-term modification program. The Firm continues to report these loans as TDRs since the borrowers’ credit lines remain closed. (e) The table below sets forth information about the Firm’s wholesale impaired retained loans. (in millions) Commercial and industrial Real estate Financial institutions Government agencies Other Total retained loans Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Impaired loans With an allowance $ 658 $ 1,170 $ 78 $ 78 $ 2 $ 93 $ — $ — $ 151 $ 168 $ 889 $ 1,509 Without an allowance (a) 84 228 53 60 — — — — 25 70 162 358 Total impaired loans $ 742 $ 1,398 $ 131 $ 138 $ 2 $ 93 $ — $ — $ 176 $ 238 $ 1,051 (c) $ 1,867 (c) Allowance for loan losses related to impaired loans $ 243 $ 404 $ 15 $ 11 $ 1 $ 4 $ — $ — $ 21 $ 42 $ 280 $ 461 Unpaid principal balance of impaired loans (b) 846 1,604 198 201 2 94 — — 387 255 1,433 2,154 (a) When the discounted cash flows, collateral value or market price equals or exceeds the recorded investment in the loan, the loan does not require an allowance. This typically occurs when the impaired loans have been partially charged-off and/or there have been interest payments received and applied to the loan balance. (b) Represents the contractual amount of principal owed at September 30, 2018 , and December 31, 2017 . The unpaid principal balance differs from the impaired loan balances due to various factors, including charge-offs; interest payments received and applied to the carrying value; net deferred loan fees or costs; and unamortized discount or premiums on purchased loans. (c) |
Schedule of impaired financing receivables, average recorded investment | The following tables present average impaired loans and the related interest income reported by the Firm. Three months ended September 30, Average impaired loans Interest income on impaired loans (a) Interest income on impaired (a) 2018 2017 2018 2017 2018 2017 Residential mortgage $ 4,872 $ 5,743 $ 61 $ 71 $ 19 $ 19 Home equity 2,065 2,150 33 32 21 20 Total residential real estate – excluding PCI $ 6,937 $ 7,893 $ 94 $ 103 $ 40 $ 39 Nine months ended September 30, 2018 Average impaired loans Interest income on impaired loans (a) Interest income on impaired loans on a cash basis (a) 2018 2017 2018 2017 2018 2017 Residential mortgage $ 5,242 $ 5,861 $ 197 $ 217 $ 58 $ 57 Home equity 2,092 2,213 98 95 63 60 Total residential real estate – excluding PCI $ 7,334 $ 8,074 $ 295 $ 312 $ 121 $ 117 (a) Generally, interest income on loans modified in TDRs is recognized on a cash basis until the borrower has made a minimum of six The following table presents average balances of impaired credit card loans and interest income recognized on those loans. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Average impaired credit card loans $ 1,267 $ 1,205 $ 1,245 $ 1,215 Interest income on impaired credit card loans 17 15 48 44 The following table presents the Firm’s average impaired retained loans for the periods indicated. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Commercial and industrial $ 838 $ 1,207 $ 1,095 $ 1,277 Real estate 134 167 138 175 Financial institutions 45 70 76 38 Government agencies — — — — Other 202 231 214 246 Total (a)(b) $ 1,219 $ 1,675 $ 1,523 $ 1,736 (a) The related interest income on accruing impaired loans and interest income recognized on a cash basis were not material for the three and nine months ended September 30, 2018 and 2017 . (b) |
Troubled debt restructuring on financing receivables | The following table presents new TDRs reported by the Firm. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Residential mortgage $ 67 $ 57 $ 314 $ 225 Home equity 55 82 241 232 Total residential real estate – excluding PCI $ 122 $ 139 $ 555 $ 457 |
Troubled debt restructuring on financing receivables nature and extent of modifications | The following tables provide information about how residential real estate loans, excluding PCI loans, were modified under the Firm’s loss mitigation programs described above during the periods presented. These tables exclude Chapter 7 loans where the sole concession granted is the discharge of debt . Three months ended September 30, Total residential real estate – excluding PCI Residential mortgage Home equity 2018 2017 2018 2017 2018 2017 Number of loans approved for a trial modification 513 206 586 536 1,099 742 Number of loans permanently modified 719 510 939 1,228 1,658 1,738 Concession granted: (a) Interest rate reduction 58 % 64 % 77 % 60 % 69 % 61 % Term or payment extension 83 80 88 66 86 70 Principal and/or interest deferred 30 22 11 8 19 12 Principal forgiveness 9 17 7 19 8 19 Other (b) 36 15 58 32 49 27 Nine months ended September 30, Total residential Residential mortgage Home equity 2018 2017 2018 2017 2018 2017 Number of loans approved for a trial modification 1,789 1,052 1,895 1,844 3,684 2,896 Number of loans permanently modified 2,374 1,952 4,005 4,028 6,379 5,980 Concession granted: (a) Interest rate reduction 36 % 73 % 57 % 68 % 49 % 69 % Term or payment extension 49 84 62 78 57 80 Principal and/or interest deferred 47 16 22 12 31 13 Principal forgiveness 7 18 7 12 7 14 Other (b) 40 24 58 19 52 21 (a) Represents concessions granted in permanent modifications as a percentage of the number of loans permanently modified. The sum of the percentages exceeds 100% because predominantly all of the modifications include more than one type of concession. Concessions offered on trial modifications are generally consistent with those granted on permanent modifications. (b) Includes variable interest rate to fixed interest rate modifications for the three and nine months ended September 30, 2018 and 2017 . Also includes forbearances that meet the definition of a TDR for the three and nine months ended September 30, 2018 |
Troubled debt restructuring on financing receivables, financial effects of modifications and re-defaults | The following tables provide information about the financial effects of the various concessions granted in modifications of residential real estate loans, excluding PCI loans, under the loss mitigation programs described above and about redefaults of certain loans modified in TDRs for the periods presented. The following tables present only the financial effects of permanent modifications and does not include temporary concessions offered through trial modifications. These tables also exclude Chapter 7 loans where the sole concession granted is the discharge of debt. Three months ended September 30, Residential mortgage Home equity Total residential real estate – excluding PCI 2018 2017 2018 2017 2018 2017 Weighted-average interest rate of loans with interest rate reductions – before TDR 6.13 % 4.92 % 5.69 % 5.26 % 5.89 % 5.06 % Weighted-average interest rate of loans with interest rate reductions – after TDR 4.23 2.89 3.83 2.96 4.01 2.92 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 22 24 18 18 21 22 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 39 38 39 38 39 38 Charge-offs recognized upon permanent modification $ — $ — $ — $ — $ — $ — Principal deferred 7 3 2 1 9 4 Principal forgiven 3 5 1 4 4 9 Balance of loans that redefaulted within one year of permanent modification (a) $ 27 $ 32 $ 19 $ 17 $ 46 $ 49 Nine months ended September 30, Residential mortgage Home equity Total residential real estate – excluding PCI 2018 2017 2018 2017 2018 2017 Weighted-average interest rate of loans with interest rate reductions – before TDR 5.45 % 5.16 % 5.34 % 4.92 % 5.39 % 5.06 % Weighted-average interest rate of loans with interest rate reductions – after TDR 3.64 2.97 3.39 2.55 3.49 2.79 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR 24 24 18 22 22 23 Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR 38 38 39 39 38 38 Charge-offs recognized upon permanent modification $ — $ 1 $ 1 $ 1 $ 1 $ 2 Principal deferred 17 10 7 8 24 18 Principal forgiven 9 16 5 9 14 25 Balance of loans that redefaulted within one year of permanent modification (a) $ 69 $ 86 $ 49 $ 36 $ 118 $ 122 (a) Represents loans permanently modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year of the modification. The dollar amounts presented represent the balance of such loans at the end of the reporting period in which such loans defaulted. For residential real estate loans modified in TDRs, payment default is deemed to occur when the loan becomes two contractual payments past due. In the event that a modified loan redefaults, it is probable that the loan will ultimately be liquidated through foreclosure or another similar type of liquidation transaction. Redefaults of loans modified within the last 12 months The following table provides information about the financial effects of the concessions granted on credit card loans modified in TDRs and redefaults for the periods presented. (in millions, except weighted-average data) Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Weighted-average interest rate of loans – before TDR 18.25 % 16.84 % 17.82 % 16.52 % Weighted-average interest rate of loans – after TDR 5.10 4.95 5.12 4.84 Loans that redefaulted within one year of modification (a) $ 31 $ 27 $ 82 $ 72 (a) Represents loans modified in TDRs that experienced a payment default in the periods presented, and for which the payment default occurred within one year |
Certain loans acquired in transfer accretable yield movement roll forward | The table below sets forth the accretable yield activity for the Firm’s PCI consumer loans for the three and nine months ended September 30, 2018 and 2017 , and represents the Firm’s estimate of gross interest income expected to be earned over the remaining life of the PCI loan portfolios. The table excludes the cost to fund the PCI portfolios, and therefore the accretable yield does not represent net interest income expected to be earned on these portfolios. Total PCI (in millions, except ratios) Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Beginning balance $ 8,722 $ 12,639 $ 11,159 $ 11,768 Accretion into interest income (303 ) (345 ) (958 ) (1,061 ) Changes in interest rates on variable-rate loans 37 51 (231 ) 218 Other changes in expected cash flows (a) 46 (1,333 ) (1,468 ) 87 Balance at September 30 $ 8,502 $ 11,012 $ 8,502 $ 11,012 Accretable yield percentage 4.95 % 4.54 % 4.88 % 4.48 % (a) |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Allowance for credit losses on financing receivables | The table below summarizes information about the allowances for loan losses and lending-related commitments, and includes a breakdown of loans and lending-related commitments by impairment methodology. 2018 2017 Nine months ended September 30, Consumer, excluding credit card Credit card Wholesale Total Consumer, excluding credit card Credit card Wholesale Total Allowance for loan losses Beginning balance at January 1, $ 4,579 $ 4,884 $ 4,141 $ 13,604 $ 5,198 $ 4,034 $ 4,544 $ 13,776 Gross charge-offs 776 3,777 264 4,817 1,479 3,344 154 4,977 Gross recoveries (681 ) (370 ) (146 ) (1,197 ) (478 ) (295 ) (81 ) (854 ) Net charge-offs 95 3,407 118 3,620 1,001 3,049 73 4,123 Write-offs of PCI loans (a) 151 — — 151 66 — — 66 Provision for loan losses (152 ) 3,557 (111 ) 3,294 653 3,699 (401 ) 3,951 Other 1 — — 1 (2 ) — 3 1 Ending balance at September 30, $ 4,182 $ 5,034 $ 3,912 $ 13,128 $ 4,782 $ 4,684 $ 4,073 $ 13,539 Allowance for loan losses by impairment methodology Asset-specific (b) $ 204 $ 421 (c) $ 280 $ 905 $ 271 $ 376 (c) $ 363 $ 1,010 Formula-based 2,154 4,613 3,632 10,399 2,266 4,308 3,710 10,284 PCI 1,824 — — 1,824 2,245 — — 2,245 Total allowance for loan losses $ 4,182 $ 5,034 $ 3,912 $ 13,128 $ 4,782 $ 4,684 $ 4,073 $ 13,539 Loans by impairment methodology Asset-specific $ 7,046 $ 1,284 $ 1,051 $ 9,381 $ 8,147 $ 1,206 $ 1,638 $ 10,991 Formula-based 343,703 146,572 422,783 913,058 329,445 139,994 396,928 866,367 PCI 25,209 — 3 25,212 31,821 — 3 31,824 Total retained loans $ 375,958 $ 147,856 $ 423,837 $ 947,651 $ 369,413 $ 141,200 $ 398,569 $ 909,182 Impaired collateral-dependent loans Net charge-offs $ 15 $ — $ — $ 15 $ 47 $ — $ 30 $ 77 Loans measured at fair value of collateral less cost to sell 2,077 — 258 2,335 2,198 — 250 2,448 Allowance for lending-related commitments Beginning balance at January 1, $ 33 $ — $ 1,035 $ 1,068 $ 26 $ — $ 1,052 $ 1,078 Provision for lending-related commitments — — 29 29 7 — 24 31 Other — — — — — — — — Ending balance at September 30, $ 33 $ — $ 1,064 $ 1,097 $ 33 $ — $ 1,076 $ 1,109 Allowance for lending-related commitments by impairment methodology Asset-specific $ — $ — $ 71 $ 71 $ — $ — $ 220 $ 220 Formula-based 33 — 993 1,026 33 — 856 889 Total allowance for lending-related commitments $ 33 $ — $ 1,064 $ 1,097 $ 33 $ — $ 1,076 $ 1,109 Lending-related commitments by impairment methodology Asset-specific $ — $ — $ 252 $ 252 $ — $ — $ 764 $ 764 Formula-based 50,630 600,728 397,064 1,048,422 52,796 (d) 574,641 371,616 999,053 (d) Total lending-related commitments $ 50,630 $ 600,728 $ 397,316 $ 1,048,674 $ 52,796 (d) $ 574,641 $ 372,380 $ 999,817 (d) (a) Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. A write-off of a PCI loan is recognized when the underlying loan is removed from a pool. (b) Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR. (c) The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates. (d) |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Variable Interest Entities [Abstract] | |
Schedule of significant types of variable interest entities by business segment | The following table summarizes the most significant types of Firm-sponsored VIEs by business segment. Line of Business Transaction Type Activity Form 10-Q page reference CCB Credit card securitization trusts Securitization of originated credit card receivables 148 Mortgage securitization trusts Servicing and securitization of both originated and purchased residential mortgages 148-150 CIB Mortgage and other securitization trusts Securitization of both originated and purchased residential and commercial mortgages, and other consumer loans 148-150 Multi-seller conduits Assist clients in accessing the financial markets in a cost-efficient manner and structures transactions to meet investor needs 150 Municipal bond vehicles Financing of municipal bond investments 150 |
Firm-sponsored mortgage and other consumer securitization trusts | The following table presents the total unpaid principal amount of assets held in Firm-sponsored private-label securitization entities, including those in which the Firm has continuing involvement, and those that are consolidated by the Firm. Continuing involvement includes servicing the loans, holding senior interests or subordinated interests (including amounts required to be held pursuant to credit risk retention rules), recourse or guarantee arrangements, and derivative transactions. In certain instances, the Firm’s only continuing involvement is servicing the loans. Refer to Securitization activity on page 152 of this Note for further information regarding the Firm’s cash flows associated with and interests retained in nonconsolidated VIEs, and pages 152-153 of this Note for information on the Firm’s loan sales to U.S. government agencies. Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) September 30, 2018 (in millions) Total assets held by securitization VIEs Assets Assets held in nonconsolidated securitization VIEs with continuing involvement Trading assets Investment securities Other financial assets Total interests held by JPMorgan Securitization-related (a) Residential mortgage: Prime/Alt-A and option ARMs $ 65,481 $ 3,314 $ 51,914 $ 607 $ 704 $ — $ 1,311 Subprime 17,278 19 15,950 55 — — 55 Commercial and other (b) 102,603 — 77,494 497 869 216 1,582 Total $ 185,362 $ 3,333 $ 145,358 $ 1,159 $ 1,573 $ 216 $ 2,948 Principal amount outstanding JPMorgan Chase interest in securitized assets in nonconsolidated VIEs (c)(d)(e) December 31, 2017 (in millions) Total assets held by securitization VIEs Assets held in consolidated securitization VIEs Assets held in nonconsolidated securitization VIEs with continuing involvement Trading assets Investment securities Other financial assets Total interests held by JPMorgan Chase Securitization-related (a) Residential mortgage: Prime/Alt-A and option ARMs $ 68,874 $ 3,615 $ 52,280 $ 410 $ 943 $ — $ 1,353 Subprime 18,984 7 17,612 93 — — 93 Commercial and other (b) 94,905 63 63,411 745 1,133 157 2,035 Total $ 182,763 $ 3,685 $ 133,303 $ 1,248 $ 2,076 $ 157 $ 3,481 (a) Excludes U.S. government agency securitizations and re-securitizations, which are not Firm-sponsored. Refer to pages 152-153 of this Note for information on the Firm’s loan sales to U.S. government agencies. (b) Consists of securities backed by commercial loans (predominantly real estate) and non-mortgage-related consumer receivables purchased from third parties. (c) Excludes the following: retained servicing (refer to Note 14 for a discussion of MSRs); securities retained from loan sales to U.S. government agencies; interest rate and foreign exchange derivatives primarily used to manage interest rate and foreign exchange risks of securitization entities (Refer to Note 4 for further information on derivatives); senior and subordinated securities of $75 million and $111 million , respectively, at September 30, 2018 , and $88 million and $48 million , respectively, at December 31, 2017 , which the Firm purchased in connection with CIB’s secondary market-making activities. (d) Includes interests held in re-securitization transactions. (e) As of September 30, 2018 , and December 31, 2017 , 66% and 61% , respectively, of the Firm’s retained securitization interests, which are predominantly carried at fair value and include amounts required to be held pursuant to credit risk retention rules, were risk-rated “A” or better, on an S&P-equivalent basis. The retained interests in prime residential mortgages consisted of $1.3 billion of investment-grade at both September 30, 2018 and December 31, 2017 , and $34 million and $48 million of noninvestment-grade at September 30, 2018 , and December 31, 2017 , respectively. The retained interests in commercial and other securitizations trusts consisted of $1.2 billion and $1.6 billion of investment-grade and $410 million and $412 million of noninvestment-grade retained interests at September 30, 2018 , and December 31, 2017 |
Schedule of re-securitizations | The following table presents the principal amount of securities transferred to re-securitization VIEs. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Transfers of securities to VIEs Agency $ 2,540 $ 1,477 $ 11,321 $ 6,163 The following table presents information on nonconsolidated re-securitization VIEs. Nonconsolidated re-securitization VIEs (in millions) September 30, 2018 December 31, 2017 Firm-sponsored private-label Assets held in VIEs with continuing involvement (a) $ 198 $ 783 Interest in VIEs 10 29 Agency Interest in VIEs 2,263 2,250 (a) |
Information on assets and liabilities related to VIEs that are consolidated by the Firm | The following table presents information on assets and liabilities related to VIEs consolidated by the Firm as of September 30, 2018 , and December 31, 2017 . Assets Liabilities September 30, 2018 (in millions) Trading assets Loans Other (b) Total assets (c) Beneficial interests in VIE assets (d) Other (e) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 30,949 $ 504 $ 31,453 $ 14,142 $ 12 $ 14,154 Firm-administered multi-seller conduits 1 22,797 129 22,927 4,304 30 4,334 Municipal bond vehicles 1,370 — 4 1,374 1,344 2 1,346 Mortgage securitization entities (a) 62 3,368 37 3,467 304 171 475 Other 134 — 1,733 1,867 147 115 262 Total $ 1,567 $ 57,114 $ 2,407 $ 61,088 $ 20,241 $ 330 $ 20,571 Assets Liabilities December 31, 2017 (in millions) Trading assets Loans Other (b) Total assets (c) Beneficial interests in VIE assets (d) Other (e) Total liabilities VIE program type Firm-sponsored credit card trusts $ — $ 41,923 $ 652 $ 42,575 $ 21,278 $ 16 $ 21,294 Firm-administered multi-seller conduits — 23,411 48 23,459 3,045 28 3,073 Municipal bond vehicles 1,278 — 3 1,281 1,265 2 1,267 Mortgage securitization entities (a) 66 3,661 55 3,782 359 199 558 Other 105 — 1,916 2,021 134 104 238 Total $ 1,449 $ 68,995 $ 2,674 $ 73,118 $ 26,081 $ 349 $ 26,430 (a) Includes residential and commercial mortgage securitizations. (b) Includes assets classified as cash and other assets on the Consolidated balance sheets. (c) The assets of the consolidated VIEs included in the program types above are used to settle the liabilities of those entities. The assets and liabilities include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. (d) The interest-bearing beneficial interest liabilities issued by consolidated VIEs are classified in the line item on the Consolidated balance sheets titled, “Beneficial interests issued by consolidated variable interest entities.” The holders of these beneficial interests generally do not have recourse to the general credit of JPMorgan Chase . For conduits program-wide credit enhancements, refer to note 14 of JPMorgan Chase’s 2017 Annual Report. Included in beneficial interests in VIE assets are long-term beneficial interests of $14.6 billion and $21.8 billion at September 30, 2018 , and December 31, 2017 , respectively. (e) |
Securitization activities | The following table provides information related to the Firm’s securitization activities for the three and nine months ended September 30, 2018 and 2017 , related to assets held in Firm -sponsored securitization entities that were not consolidated by the Firm, and where sale accounting was achieved at the time of the securitization. Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 (in millions) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Residential mortgage (e) Commercial and other (f) Principal securitized $ 1,513 $ 3,533 $ 1,017 $ 4,411 $ 5,972 $ 8,705 $ 3,066 $ 7,723 All cash flows during the period (a) : Proceeds received from loan sales as financial instruments (b) $ 1,524 $ 3,558 $ 1,053 $ 4,419 $ 5,984 $ 8,745 $ 3,136 $ 7,796 Servicing fees collected (c) 43 1 49 1 134 1 151 3 Purchases of previously transferred financial assets (or the underlying collateral) (d) — — — — — — 1 — Cash flows received on interests 99 99 125 287 328 230 384 828 (a) Excludes re-securitization transactions. (b) Predominantly includes Level 2 assets. (c) The prior period amounts have been revised to conform with the current period presentation. (d) Includes cash paid by the Firm to reacquire assets from off–balance sheet, nonconsolidated entities – for example, loan repurchases due to representation and warranties and servicer “clean-up” calls. (e) Includes prime, Alt-A, subprime, and option ARMs. Excludes loan securitization transactions entered into with Ginnie Mae, Fannie Mae and Freddie Mac. (f) |
Summary of loan sale activities | The following table summarizes the activities related to loans sold to the U.S. GSEs, loans in securitization transactions pursuant to Ginnie Mae guidelines, and other third-party-sponsored securitization entities. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Carrying value of loans sold $ 11,968 $ 15,402 $ 28,804 $ 44,282 Proceeds received from loan sales as cash 1 104 1 117 Proceeds from loan sales as securities (a) 11,713 15,093 28,291 43,682 Total proceeds received from loan sales (b) $ 11,714 $ 15,197 $ 28,292 $ 43,799 Gains on loan sales (c)(d) $ 9 $ 41 $ 32 $ 114 (a) Predominantly includes securities from U.S. GSEs and Ginnie Mae that are generally sold shortly after receipt. (b) Excludes the value of MSRs retained upon the sale of loans. (c) Gains on loan sales include the value of MSRs. (d) |
Schedule options to repurchase delinquent loans | The following table presents loans the Firm repurchased or had an option to repurchase, real estate owned, and foreclosed government-guaranteed residential mortgage loans recognized on the Firm’s Consolidated balance sheets as of September 30, 2018 and December 31, 2017 . Substantially all of these loans and real estate are insured or guaranteed by U.S. government agencies. (in millions) Sep 30, Dec 31, Loans repurchased or option to repurchase (a) $ 7,207 $ 8,629 Real estate owned 78 95 Foreclosed government-guaranteed residential mortgage loans (b) 404 527 (a) Predominantly all of these amounts relate to loans that have been repurchased from Ginnie Mae loan pools. (b) |
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets | The table below includes information about components of nonconsolidated securitized financial assets held in Firm -sponsored private-label securitization entities, in which the Firm has continuing involvement, and delinquencies as of September 30, 2018 , and December 31, 2017 . Net liquidation losses (a) Securitized assets 90 days past due Three months ended September 30, Nine months ended September 30, (in millions) Sep 30, Dec 31, Sep 30, Dec 31, 2018 2017 2018 2017 Securitized loans Residential mortgage: Prime / Alt-A & option ARMs $ 51,914 $ 52,280 $ 3,612 $ 4,870 $ 182 $ 184 $ 453 $ 622 Subprime 15,950 17,612 2,637 3,276 155 153 (307 ) 529 Commercial and other 77,494 63,411 526 957 71 2 119 59 Total loans securitized $ 145,358 $ 133,303 $ 6,775 $ 9,103 $ 408 $ 339 $ 265 $ 1,210 (a) Includes liquidation gains as a result of private label mortgage settlement payments during the first quarter of 2018, which were reflected as asset recoveries by trustees. |
Goodwill and Mortgage Servici_2
Goodwill and Mortgage Servicing Rights (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill attributed to the business segments | The following table presents goodwill attributed to the business segments. (in millions) September 30, December 31, Consumer & Community Banking $ 30,995 $ 31,013 Corporate & Investment Bank 6,771 6,776 Commercial Banking 2,860 2,860 Asset & Wealth Management 6,857 6,858 Total goodwill $ 47,483 $ 47,507 The following table presents changes in the carrying amount of goodwill. Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 Balance at beginning of period $ 47,488 $ 47,300 $ 47,507 $ 47,288 Changes during the period from: Other (a) (5 ) 9 (24 ) 21 Balance at September 30, $ 47,483 $ 47,309 $ 47,483 $ 47,309 (a) |
Mortgage servicing rights activity | The following table summarizes MSR activity for the three and nine months ended September 30, 2018 and 2017 . As of or for the three months As of or for the nine months (in millions, except where otherwise noted) 2018 2017 2018 2017 Fair value at beginning of period $ 6,241 $ 5,753 $ 6,030 $ 6,096 MSR activity: Originations of MSRs 278 253 611 624 Purchase of MSRs 13 — 159 — Disposition of MSRs (a) (2 ) (2 ) (401 ) (140 ) Net additions/(dispositions) 289 251 369 484 Changes due to collection/realization of expected cash flows (195 ) (200 ) (542 ) (619 ) Changes in valuation due to inputs and assumptions: Changes due to market interest rates and other (b) 150 (67 ) 635 (188 ) Changes in valuation due to other inputs and assumptions: Projected cash flows (e.g., cost to service) 14 (116 ) 14 (102 ) Discount rates — — 24 (19 ) Prepayment model changes and other (c) (66 ) 117 (97 ) 86 Total changes in valuation due to other inputs and assumptions (52 ) 1 (59 ) (35 ) Total changes in valuation due to inputs and assumptions 98 (66 ) 576 (223 ) Fair value at September 30, $ 6,433 $ 5,738 $ 6,433 $ 5,738 Change in unrealized gains/(losses) included in income related to MSRs held at September 30, $ 98 $ (66 ) $ 576 $ (223 ) Contractual service fees, late fees and other ancillary fees included in income 428 463 1,339 1,427 Third-party mortgage loans serviced at September 30, (in billions) 528 558 528 558 Net servicer advances at September 30, (in billions) (d) 3.1 3.9 3.1 3.9 (a) Includes excess MSRs transferred to agency-sponsored trusts in exchange for stripped mortgage backed securities (“SMBS”). In each transaction, a portion of the SMBS was acquired by third parties at the transaction date; the Firm acquired the remaining balance of those SMBS as trading securities. (b) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (c) Represents changes in prepayments other than those attributable to changes in market interest rates. (d) |
CCB mortgage fees and related income | The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the three and nine months ended September 30, 2018 and 2017 . Three months ended September 30, Nine months ended September 30, (in millions) 2018 2017 2018 2017 CCB mortgage fees and related income Net production revenue $ 108 $ 158 $ 296 $ 451 Net mortgage servicing revenue: Operating revenue: Loan servicing revenue 435 493 1,389 1,533 Changes in MSR asset fair value due to collection/realization of expected cash flows (195 ) (200 ) (542 ) (617 ) Total operating revenue 240 293 847 916 Risk management: Changes in MSR asset fair value due to market interest rates and other (a) 150 (67 ) 636 (188 ) Other changes in MSR asset fair value due to other inputs and assumptions in model (b) (52 ) 1 (59 ) (35 ) Change in derivative fair value and other (186 ) 43 (671 ) 91 Total risk management (88 ) (23 ) (94 ) (132 ) Total net mortgage servicing revenue 152 270 753 784 Total CCB mortgage fees and related income 260 428 1,049 1,235 All other 2 1 2 4 Mortgage fees and related income $ 262 $ 429 $ 1,051 $ 1,239 (a) Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments. (b) |
Key economic assumptions used to determine FV of MSRs | The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at September 30, 2018 , and December 31, 2017 , and outlines hypothetical sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below. (in millions, except rates) Sep 30, Dec 31, Weighted-average prepayment speed assumption (“CPR”) 8.40 % 9.35 % Impact on fair value of 10% adverse change $ (194 ) $ (221 ) Impact on fair value of 20% adverse change (376 ) (427 ) Weighted-average option adjusted spread 8.65 % 9.04 % Impact on fair value of a 100 basis point adverse change $ (251 ) $ (250 ) Impact on fair value of a 200 basis point adverse change (483 ) (481 ) |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Deposits [Abstract] | |
Noninterest-bearing and interest-bearing deposits | At September 30, 2018 , and December 31, 2017 , noninterest-bearing and interest-bearing deposits were as follows. (in millions) September 30, December 31, 2017 U.S. offices Noninterest-bearing $ 374,603 $ 393,645 Interest-bearing (included $16,526 and $14,947 at fair value) (a) 814,988 793,618 Total deposits in U.S. offices 1,189,591 1,187,263 Non-U.S. offices Noninterest-bearing 19,127 15,576 Interest-bearing (included $3,974 and $6,374 at fair value) (a) 250,044 241,143 Total deposits in non-U.S. offices 269,171 256,719 Total deposits $ 1,458,762 $ 1,443,982 (a) Includes structured notes classified as deposits for which the fair value option has been elected. For a further discussion, refer to Note 3 of JPMorgan Chase’s 2017 Annual Report |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of earnings per share basic and diluted | The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2018 and 2017 . (in millions, except per share amounts) Three months ended Nine months ended 2018 2017 2018 2017 Basic earnings per share Net income $ 8,380 $ 6,732 $ 25,408 $ 20,209 Less: Preferred stock dividends 379 412 1,167 1,235 Net income applicable to common equity 8,001 6,320 24,241 18,974 Less: Dividends and undistributed earnings allocated to participating securities 53 58 174 188 Net income applicable to common stockholders $ 7,948 $ 6,262 $ 24,067 $ 18,786 Total weighted-average basic shares outstanding 3,376.1 3,534.7 3,416.5 3,570.9 Net income per share $ 2.35 $ 1.77 $ 7.04 $ 5.26 Diluted earnings per share Net income applicable to common stockholders $ 7,948 $ 6,262 $ 24,067 $ 18,786 Total weighted-average basic shares outstanding 3,376.1 3,534.7 3,416.5 3,570.9 Add: Employee stock options, SARs, warrants and unvested PSUs 18.2 24.9 19.7 26.1 Total weighted-average diluted shares outstanding 3,394.3 3,559.6 3,436.2 3,597.0 Net income per share $ 2.34 $ 1.76 $ 7.00 $ 5.22 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated other comprehensive income/(loss) | AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans. As of or for the three months ended Unrealized Translation adjustments, net of hedges Fair value hedges (b) Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2018 $ 1,599 $ (632 ) $ (162 ) $ (147 ) $ (1,876 ) $ 80 $ (1,138 ) Net change (819 ) (31 ) 34 (88 ) 19 (402 ) (1,287 ) Balance at September 30, 2018 $ 780 $ (663 ) $ (128 ) $ (235 ) $ (1,857 ) $ (322 ) $ (2,425 ) As of or for the three months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at July 1, 2017 $ 2,219 $ (157 ) NA $ 44 $ (2,255 ) $ (243 ) $ (392 ) Net change 147 — NA 26 22 (112 ) 83 Balance at September 30, 2017 $ 2,366 $ (157 ) NA $ 70 $ (2,233 ) $ (355 ) $ (309 ) As of or for the nine months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2018 $ 2,164 $ (470 ) $ — $ 76 $ (1,521 ) $ (368 ) $ (119 ) Cumulative effect of changes in accounting principles (a): Premium amortization on purchased callable debt securities 261 — — — — — 261 Hedge accounting 169 — (54 ) — — — 115 Reclassification of certain tax effects from AOCI 466 (277 ) — 16 (414 ) (79 ) (288 ) Net change (2,280 ) 84 (74 ) (327 ) 78 125 (2,394 ) Balance at September 30, 2018 $ 780 $ (663 ) $ (128 ) $ (235 ) $ (1,857 ) $ (322 ) $ (2,425 ) As of or for the nine months ended Unrealized Translation adjustments, net of hedges Fair value hedges Cash flow hedges Defined benefit pension and DVA on fair value option elected liabilities Accumulated other comprehensive income/(loss) Balance at January 1, 2017 $ 1,524 $ (164 ) NA $ (100 ) $ (2,259 ) $ (176 ) $ (1,175 ) Net change 842 7 NA 170 26 (179 ) 866 Balance at September 30, 2017 $ 2,366 $ (157 ) NA $ 70 $ (2,233 ) $ (355 ) $ (309 ) (a) Represents the adjustment to AOCI as a result of the new accounting standards adopted in the first quarter of 2018. (b) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swap. |
Changes of the components of accumulated other comprehensive income (loss) | The following table presents the pre-tax and after-tax changes in the components of OCI. 2018 2017 Three months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (1,117 ) $ 262 $ (855 ) $ 232 $ (86 ) $ 146 Reclassification adjustment for realized (gains)/losses included in net income (a) 46 (10 ) 36 1 — 1 Net change (1,071 ) 252 (819 ) 233 (86 ) 147 Translation adjustments: Translation (314 ) 45 (269 ) 286 (106 ) 180 Hedges 311 (73 ) 238 (286 ) 106 (180 ) Net change (3 ) (28 ) (31 ) — — — Fair value hedges, net change (b) : 45 (11 ) 34 NA NA NA Cash flow hedges: Net unrealized gains/(losses) arising during the period (122 ) 27 (95 ) 29 (11 ) 18 Reclassification adjustment for realized (gains)/losses included in net income (c) 9 (2 ) 7 10 (2 ) 8 Net change (113 ) 25 (88 ) 39 (13 ) 26 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period — — — — — — Reclassification adjustments included in net income (d) : Amortization of net loss 26 (6 ) 20 63 (23 ) 40 Prior service costs/(credits) (7 ) 2 (5 ) (9 ) 3 (6 ) Foreign exchange and other 7 (3 ) 4 (19 ) 7 (12 ) Net change 26 (7 ) 19 35 (13 ) 22 DVA on fair value option elected liabilities, net change: (527 ) 125 (402 ) (178 ) 66 (112 ) Total other comprehensive income/(loss) $ (1,643 ) $ 356 $ (1,287 ) $ 129 $ (46 ) $ 83 2018 2017 Nine months ended September 30, (in millions) Pre-tax Tax effect After-tax Pre-tax Tax effect After-tax Unrealized gains/(losses) on investment securities: Net unrealized gains/(losses) arising during the period $ (3,351 ) $ 787 $ (2,564 ) $ 1,294 $ (476 ) $ 818 Reclassification adjustment for realized (gains)/losses included in net income (a) 371 (87 ) 284 38 (14 ) 24 Net change (2,980 ) 700 (2,280 ) 1,332 (490 ) 842 Translation adjustments (e): Translation (981 ) 188 (793 ) 1,185 (448 ) 737 Hedges 1,149 (272 ) 877 (1,161 ) 431 (730 ) Net change 168 (84 ) 84 24 (17 ) 7 Fair value hedges, net change (b) : (96 ) 22 (74 ) NA NA NA Cash flow hedges: Net unrealized gains/(losses) arising during the period (365 ) 85 (280 ) 111 (42 ) 69 Reclassification adjustment for realized (gains)/losses included in net income (c) (62 ) 15 (47 ) 160 (59 ) 101 Net change (427 ) 100 (327 ) 271 (101 ) 170 Defined benefit pension and OPEB plans: Net gains/(losses) arising during the period 25 (6 ) 19 (52 ) 19 (33 ) Reclassification adjustments included in net income (d) : Amortization of net loss 78 (18 ) 60 187 (69 ) 118 Prior service costs/(credits) (19 ) 5 (14 ) (27 ) 10 (17 ) Settlement (gain)/loss — — — (3 ) 1 (2 ) Foreign exchange and other 19 (6 ) 13 (51 ) 11 (40 ) Net change 103 (25 ) 78 54 (28 ) 26 DVA on fair value option elected liabilities, net change: $ 163 $ (38 ) $ 125 $ (283 ) $ 104 $ (179 ) Total other comprehensive income/(loss) $ (3,069 ) $ 675 $ (2,394 ) $ 1,398 $ (532 ) $ 866 (a) The pre-tax amount is reported in investment securities losses in the Consolidated statements of income. (b) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swap. (c) The pre-tax amounts are predominantly recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income. (d) The pre-tax amount is reported in other expense in the Consolidated statements of income. (e) Reclassifications of pre-tax realized gains/(losses) on translation adjustments and related hedges are reported in other income/expense in the Consolidated statements of income. During the nine months ended September 30, 2018 , the Firm reclassified a net pre-tax loss of $174 million to other expense related to the liquidation of a legal entity, $23 million related to net investment hedge losses and $151 million related to cumulative translation adjustments. During the nine months ended September 30, 2017 , the Firm reclassified a net pre-tax loss of $25 million to other expense related to the liquidation of a legal entity, $47 million related to net investment hedge gains and $72 million |
Restricted Cash and Other Res_2
Restricted Cash and Other Restricted Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Components of restricted cash | The following table presents the components of the Firm’s restricted cash: (in billions) September 30, December 31, 2017 Cash reserves – Federal Reserve Banks $ 23.6 $ 25.7 Segregated for the benefit of securities and futures brokerage customers 15.3 16.8 Cash reserves at non-U.S. central banks and held for other general purposes 3.3 3.3 Total restricted cash (a) $ 42.2 $ 45.8 (a) Comprises $40.7 billion and $44.8 billion in deposits with banks, and $1.5 billion and $1.0 billion in cash and due from banks on the Consolidated balance sheets as of September 30, 2018 and December 31, 2017 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Reconciliation of the Firm's regulatory capital, assets and risk-based capital ratios | The following table represents the minimum and well-capitalized ratios to which the Firm and its IDI subsidiaries were subject as of September 30, 2018 . Minimum capital ratios Well-capitalized ratios BHC (a)(e)(f) IDI (b)(e)(f) BHC (c) IDI (d) Capital ratios CET1 9.0 % 6.375 % — % 6.5 % Tier 1 10.5 7.875 6.0 8.0 Total 12.5 9.875 10.0 10.0 Tier 1 leverage 4.0 4.0 5.0 5.0 SLR 5.0 6.0 — 6.0 Note: The table above is as defined by the regulations issued by the Federal Reserve, OCC and FDIC and to which the Firm and its IDI subsidiaries are subject. (a) Represents the Transitional minimum capital ratios applicable to the Firm under Basel III at September 30, 2018 . At September 30, 2018 , the CET1 minimum capital ratio includes 1.875% resulting from the phase in of the Firm’s 2.5% capital conservation buffer, and 2.625% resulting from the phase in of the Firm’s 3.5% GSIB surcharge. (b) Represents requirements for JPMorgan Chase ’s IDI subsidiaries. The CET1 minimum capital ratio includes 1.875% resulting from the phase in of the 2.5% capital conservation buffer that is applicable to the IDI subsidiaries. The IDI subsidiaries are not subject to the GSIB surcharge. (c) Represents requirements for bank holding companies pursuant to regulations issued by the Federal Reserve. (d) Represents requirements for IDI subsidiaries pursuant to regulations issued under the FDIC Improvement Act. (e) For the period ended December 31, 2017 , the CET1, Tier 1, Total and Tier 1 leverage minimum capital ratios applicable to the Firm were 7.5% , 9.0% , 11.0% and 4.0% , and the CET1, Tier 1, Total and Tier 1 leverage minimum capital ratios applicable to the Firm’s IDI subsidiaries were 5.75% , 7.25% , 9.25% and 4.0% , respectively. (f) Represents minimum SLR requirement of 3.0% , as well as, supplementary leverage buffers of 2.0% and 3.0% for BHC and IDI, respectively. The following tables present the risk-based and leverage-based capital metrics for JPMorgan Chase and its significant IDI subsidiaries under both the Basel III Standardized and Basel III Advanced Approaches. As of September 30, 2018 and December 31, 2017 , JPMorgan Chase and all of its IDI subsidiaries were well-capitalized and met all capital requirements to which each was subject. September 30, 2018 Basel III Standardized Transitional Basel III Advanced Transitional JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Regulatory capital CET1 capital $ 184,972 $ 188,608 $ 23,136 $ 184,972 $ 188,608 $ 23,136 Tier 1 capital 210,589 188,608 23,136 210,589 188,608 23,136 Total capital 238,303 199,634 28,026 228,574 193,613 26,636 Assets Risk-weighted 1,545,326 1,362,039 109,138 1,438,529 1,211,473 182,177 Adjusted average (a) 2,552,612 2,141,332 116,411 2,552,612 2,141,332 116,411 Capital ratios (b) CET1 12.0 % 13.8 % 21.2 % 12.9 % 15.6 % 12.7 % Tier 1 13.6 13.8 21.2 14.6 15.6 12.7 Total 15.4 14.7 25.7 15.9 16.0 14.6 Tier 1 leverage (c) 8.2 8.8 19.9 8.2 8.8 19.9 December 31, 2017 Basel III Standardized Transitional Basel III Advanced Transitional JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Regulatory capital CET1 capital $ 183,300 $ 184,375 $ 21,600 $ 183,300 $ 184,375 $ 21,600 Tier 1 capital 208,644 184,375 21,600 208,644 184,375 21,600 Total capital 238,395 195,839 27,691 227,933 189,510 (d) 26,250 Assets Risk-weighted 1,499,506 1,338,970 (d) 113,108 1,435,825 1,241,916 (d) 190,523 Adjusted average (a) 2,514,270 2,116,031 126,517 2,514,270 2,116,031 126,517 Capital ratios (b) CET1 12.2 % 13.8 % 19.1 % 12.8 % 14.8 % (d) 11.3 % Tier 1 13.9 13.8 19.1 14.5 14.8 (d) 11.3 Total 15.9 14.6 (d) 24.5 15.9 15.3 (d) 13.8 Tier 1 leverage (c) 8.3 8.7 17.1 8.3 8.7 17.1 (a) Adjusted average assets, for purposes of calculating the Tier 1 leverage ratio, includes total quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill and other intangible assets. (b) For each of the risk-based capital ratios, the capital adequacy of the Firm and its IDI subsidiaries is evaluated against the lower of the two ratios as calculated under Basel III approaches (Standardized or Advanced). (c) The Tier 1 leverage ratio is not a risk-based measure of capital. (d) The prior period amounts have been revised to conform with the current period presentation. September 30, 2018 December 31, 2017 Basel III Advanced Fully Phased-In Basel III Advanced Transitional (in millions, except ratios) JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. Chase Bank USA, N.A. Total leverage exposure (a) $ 3,235,518 $ 2,765,905 $ 175,153 $ 3,204,463 $ 2,775,041 $ 182,803 SLR (a) 6.5 % 6.8 % 13.2 % 6.5 % 6.6 % 11.8 % (a) |
Off-balance Sheet Lending-rel_2
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Off-Balance Sheet Lending-Related Financial Instruments, Guarantees and Other Commitments [Abstract] | |
Off-balance sheet lending related financial instruments, guarantees and other commitments | The following table summarizes the contractual amounts and carrying values of off-balance sheet lending-related financial instruments, guarantees and other commitments at September 30, 2018 , and December 31, 2017 . The amounts in the table below for credit card and home equity lending-related commitments represent the total available credit for these products. The Firm has not experienced, and does not anticipate, that all available lines of credit for these products will be utilized at the same time. The Firm can reduce or cancel credit card lines of credit by providing the borrower notice or, in some cases as permitted by law, without notice. In addition, the Firm typically closes credit card lines when the borrower is 60 days or more past due. The Firm may reduce or close HELOCs when there are significant decreases in the value of the underlying property, or when there has been a demonstrable decline in the creditworthiness of the borrower. Off–balance sheet lending-related financial instruments, guarantees and other commitments Contractual amount Carrying value (g) September 30, 2018 Dec 31, Sep 30, Dec 31, By remaining maturity Expires in 1 year or less Expires after Expires after Expires after 5 years Total Total Lending-related Consumer, excluding credit card: Home equity $ 916 $ 1,110 $ 1,693 $ 16,942 $ 20,661 $ 20,360 $ 12 $ 12 Residential mortgage (a) 6,955 — — 12 6,967 5,736 — — Auto 7,911 1,430 200 89 9,630 9,255 2 2 Consumer & Business Banking 12,127 647 111 487 13,372 13,202 19 19 Total consumer, excluding credit card 27,909 3,187 2,004 17,530 50,630 48,553 33 33 Credit card 600,728 — — — 600,728 572,831 — — Total consumer (b) 628,637 3,187 2,004 17,530 651,358 621,384 33 33 Wholesale: Other unfunded commitments to extend credit (c) 74,427 128,149 148,414 10,995 361,985 331,160 886 840 Standby letters of credit and other financial guarantees (c) 14,561 9,810 5,038 2,339 31,748 35,226 585 636 Other letters of credit (c) 3,344 137 102 — 3,583 3,712 7 3 Total wholesale (d) 92,332 138,096 153,554 13,334 397,316 370,098 1,478 1,479 Total lending-related $ 720,969 $ 141,283 $ 155,558 $ 30,864 $ 1,048,674 $ 991,482 $ 1,511 $ 1,512 Other guarantees and commitments Securities lending indemnification agreements and guarantees (e) $ 202,622 $ — $ — $ — $ 202,622 $ 179,490 $ — $ — Derivatives qualifying as guarantees 2,800 361 12,384 40,349 55,894 57,174 370 304 Unsettled reverse repurchase and securities borrowing agreements 119,762 — — — 119,762 76,859 — — Unsettled repurchase and securities lending agreements 92,115 — — — 92,115 44,205 — — Loan sale and securitization-related indemnifications: Mortgage repurchase liability NA NA NA NA NA NA 89 111 Loans sold with recourse NA NA NA NA 1,066 1,169 33 38 Other guarantees and commitments (f) 10,091 1,443 384 2,641 14,559 11,867 (53 ) (76 ) (a) Includes certain commitments to purchase loans from correspondents. (b) Predominantly all consumer lending-related commitments are in the U.S. (c) At September 30, 2018 , and December 31, 2017 , reflected the contractual amount net of risk participations totaling $287 million and $334 million respectively, for other unfunded commitments to extend credit; $9.9 billion and $10.4 billion , respectively, for standby letters of credit and other financial guarantees; and $469 million and $405 million , respectively, for other letters of credit. In regulatory filings with the Federal Reserve these commitments are shown gross of risk participations. (d) At both September 30, 2018 , and December 31, 2017 , the U.S. portion of the contractual amount of total wholesale lending-related commitments was 76% . (e) At September 30, 2018 , and December 31, 2017 , collateral held by the Firm in support of securities lending indemnification agreements was $214.3 billion and $188.7 billion , respectively. Securities lending collateral primarily consists of cash and securities issued by governments that are members of G7 and U.S. government agencies. (f) At September 30, 2018 , and December 31, 2017 , primarily includes letters of credit hedged by derivative transactions and managed on a market risk basis, unfunded commitments related to institutional lending and commitments associated with the Firm’s membership in certain clearing houses. Additionally, includes unfunded commitments predominantly related to certain tax-oriented equity investments. (g) |
Standby letters of credit, other financial guarantees and other letters of credit | The following table summarizes the standby letters of credit and other letters of credit arrangements as of September 30, 2018 , and December 31, 2017 . Standby letters of credit, other financial guarantees and other letters of credit September 30, 2018 December 31, 2017 (in millions) Standby letters of Other letters of credit Standby letters of Other letters of credit Investment-grade (a) $ 25,038 $ 2,507 $ 28,492 $ 2,646 Noninvestment-grade (a) 6,710 1,076 6,734 1,066 Total contractual amount $ 31,748 $ 3,583 $ 35,226 $ 3,712 Allowance for lending-related commitments $ 171 $ 7 $ 192 $ 3 Guarantee liability 414 — 444 — Total carrying value $ 585 $ 7 $ 636 $ 3 Commitments with collateral $ 16,074 $ 559 $ 17,421 $ 878 (a) |
Derivatives qualifying as guarantees | The following table summarizes the derivatives qualifying as guarantees as of September 30, 2018 , and December 31, 2017 . (in millions) September 30, 2018 December 31, 2017 Notional amounts Derivative guarantees $ 55,894 $ 57,174 Stable value contracts with contractually limited exposure 28,574 29,104 Maximum exposure of stable value contracts with contractually limited exposure 2,954 3,053 Fair value Derivative payables 370 304 Derivative receivables — — |
Pledged Assets and Collateral (
Pledged Assets and Collateral (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of pledged assets | The following table presents the Firm ’s pledged assets. (in billions) September 30, 2018 December 31, 2017 Assets that may be sold or repledged or otherwise used by secured parties $ 130.7 $ 135.8 Assets that may not be sold or repledged or otherwise used by secured parties 76.2 68.1 Assets pledged at Federal Reserve banks and FHLBs 488.9 493.7 Total assets pledged $ 695.8 $ 697.6 |
Schedule of collateral received | The following table presents the fair value of collateral accepted. (in billions) September 30, 2018 December 31, 2017 Collateral permitted to be sold or repledged, delivered, or otherwise used $ 1,114.1 $ 968.8 Collateral sold, repledged, delivered or otherwise used 927.5 771.0 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment results and reconciliation | The following table provides a summary of the Firm’s segment results as of or for the three and nine months ended September 30, 2018 and 2017, on a managed basis. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. This allows management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business. Business segment capital allocation The amount of capital assigned to each business is referred to as equity. On at least an annual basis, the Firm assesses the level of capital required for each line of business as well as the assumptions and methodologies used to allocate capital. For additional information on business segment capital allocation, refer to Line of business equity on pages 88-89 of JPMorgan Chase’s 2017 Annual Report. Effective January 1, 2018, the Firm adopted several new accounting standards. Certain of the new accounting standards were applied retrospectively and, accordingly, prior period amounts were revised. For additional information, refer to Note 1 . Net income in 2018 for the business segments reflects the favorable impact of the reduction in the U.S. federal statutory income tax rate as a result of the TCJA. Segment results and reconciliation (a) As of or for the three months ended September 30, Consumer & Corporate & Commercial Banking Asset & Wealth Management 2018 2017 2018 2017 2018 2017 2018 2017 Noninterest revenue $ 4,176 $ 3,898 $ 6,505 $ 6,119 $ 576 $ 592 $ 2,680 $ 2,617 Net interest income 9,114 8,135 2,300 2,496 1,695 1,554 879 855 Total net revenue 13,290 12,033 8,805 8,615 2,271 2,146 3,559 3,472 Provision for credit losses 980 1,517 (42 ) (26 ) (15 ) (47 ) 23 8 Noninterest expense 6,982 6,495 5,175 4,793 853 800 2,585 2,408 Income before income tax expense 5,328 4,021 3,672 3,848 1,433 1,393 951 1,056 Income tax expense 1,242 1,468 1,046 1,302 344 512 227 382 Net income $ 4,086 $ 2,553 $ 2,626 $ 2,546 $ 1,089 $ 881 $ 724 $ 674 Average equity $ 51,000 $ 51,000 $ 70,000 $ 70,000 $ 20,000 $ 20,000 $ 9,000 $ 9,000 Total assets 560,432 537,459 928,148 851,808 217,194 220,064 166,716 149,170 Return on equity 31 % 19 % 14 % 13 % 21 % 17 % 31 % 29 % Overhead ratio 53 54 59 56 38 37 73 69 As of or for the three months ended September 30, Corporate Reconciling Items (a) Total 2018 2017 2018 2017 2018 2017 Noninterest revenue $ (177 ) $ 109 $ (408 ) $ (555 ) $ 13,352 $ 12,780 Net interest income 74 77 (154 ) $ (319 ) 13,908 12,798 Total net revenue (103 ) 186 (562 ) $ (874 ) 27,260 25,578 Provision for credit losses 2 — — — 948 1,452 Noninterest expense 28 74 — — 15,623 14,570 Income/(loss) before income tax expense/(benefit) (133 ) 112 (562 ) (874 ) 10,689 9,556 Income tax expense/(benefit) 12 34 (562 ) (874 ) 2,309 2,824 Net income/(loss) $ (145 ) $ 78 $ — $ — $ 8,380 $ 6,732 Average equity $ 80,439 $ 81,861 $ — $ — $ 230,439 $ 231,861 Total assets 742,693 804,573 NA NA 2,615,183 2,563,074 Return on equity NM NM NM NM 14 % 11 % Overhead ratio NM NM NM NM 57 57 (a) Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. Segment results and reconciliation (a) As of or for the nine months ended September 30, Consumer & Corporate & Commercial Banking Asset & Wealth Management 2018 2017 2018 2017 2018 2017 2018 2017 Noninterest revenue $ 12,063 $ 10,899 $ 21,954 $ 19,598 $ 1,758 $ 1,774 $ 7,997 $ 7,677 Net interest income 26,321 23,516 7,257 7,541 4,995 4,478 2,640 2,520 Total net revenue 38,384 34,415 29,211 27,139 6,753 6,252 10,637 10,197 Provision for credit losses 3,405 4,341 (142 ) (175 ) 23 (214 ) 40 30 Noninterest expense 20,770 19,390 16,237 14,854 2,541 2,415 7,732 7,606 Income before income tax expense 14,209 10,684 13,116 12,460 4,189 4,051 2,865 2,561 Income tax expense 3,385 3,920 3,318 3,963 988 1,469 616 878 Net income $ 10,824 $ 6,764 $ 9,798 $ 8,497 $ 3,201 $ 2,582 $ 2,249 $ 1,683 Average equity $ 51,000 $ 51,000 $ 70,000 $ 70,000 $ 20,000 $ 20,000 $ 9,000 $ 9,000 Total assets 560,432 537,459 928,148 851,808 217,194 220,064 166,716 149,170 Return on equity 27 % 17 % 18 % 15 % 20 % 16 % 32 % 24 % Overhead ratio 54 56 56 55 38 39 73 75 As of or for the nine months ended September 30, Corporate Reconciling Items (a) Total 2018 2017 2018 2017 2018 2017 Noninterest revenue $ (220 ) $ 963 $ (1,337 ) $ (1,733 ) $ 42,215 $ 39,178 Net interest income (35 ) 2 (473 ) $ (987 ) 40,705 37,070 Total net revenue (255 ) 965 (1,810 ) $ (2,720 ) 82,920 76,248 Provision for credit losses (3 ) — — — 3,323 3,982 Noninterest expense 394 355 — — 47,674 44,620 Income/(loss) before income tax expense/(benefit) (646 ) 610 (1,810 ) (2,720 ) 31,923 27,646 Income tax expense/(benefit) 18 (73 ) (1,810 ) (2,720 ) 6,515 7,437 Net income/(loss) $ (664 ) $ 683 $ — $ — $ 25,408 $ 20,209 Average equity $ 78,995 $ 79,937 $ — $ — $ 228,995 $ 229,937 Total assets 742,693 804,573 NA NA 2,615,183 2,563,074 Return on equity NM NM NM NM 14 % 11 % Overhead ratio NM NM NM NM 57 59 (a) Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results. |
Basis of Presentation - Narrati
Basis of Presentation - Narrative (Details) - USD ($) | Oct. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Net tax benefit recorded for changes in estimates | $ 132,000,000 | $ 305,000,000 | ||||
Increase to noninterest revenue | 13,352,000,000 | $ 12,780,000,000 | 42,215,000,000 | $ 39,178,000,000 | ||
Increase to noninterest expense | 15,623,000,000 | 14,570,000,000 | 47,674,000,000 | 44,620,000,000 | ||
Impact to net income | 8,380,000,000 | 6,732,000,000 | 25,408,000,000 | 20,209,000,000 | ||
Increase in cash and due from banks | 23,225,000,000 | 23,225,000,000 | $ 25,898,000,000 | |||
Increase in deposits with banks | 395,872,000,000 | 395,872,000,000 | 405,406,000,000 | |||
Decrease in other assets | $ (115,936,000,000) | $ (115,936,000,000) | (113,587,000,000) | |||
Subsequent Event | Non-cumulative Perpetual Preferred Stock, Series I | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Redemption of fixed-to-floating rate stock | $ 1,700,000,000 | |||||
Accounting Standards Update 2014-09 | Revisions | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Increase to noninterest revenue | 252,000,000 | 777,000,000 | ||||
Increase to noninterest expense | 252,000,000 | 777,000,000 | ||||
Impact to net income | $ 0 | $ 0 | ||||
Accounting Standards Update 2016-18 | Revisions | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Increase in cash and due from banks | 71,000,000 | |||||
Increase in deposits with banks | 1,100,000,000 | |||||
Decrease in other assets | $ 1,200,000,000 |
Fair Value Measurement - Recurr
Fair Value Measurement - Recurring Basis (Details) - USD ($) | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | $ 543,148,000,000 | $ 559,553,000,000 | ||||
Derivative netting adjustments | (483,086,000,000) | (503,030,000,000) | ||||
Net derivative receivables | 60,062,000,000 | 56,523,000,000 | ||||
Trading assets | 419,827,000,000 | 381,844,000,000 | ||||
Available-for-sale securities | 200,030,000,000 | 201,678,000,000 | ||||
Available-for-sale securities | 202,225,000,000 | |||||
Loans | 2,987,000,000 | 2,508,000,000 | ||||
Mortgage servicing rights | 6,433,000,000 | $ 6,241,000,000 | 6,030,000,000 | $ 5,738,000,000 | $ 5,753,000,000 | $ 6,096,000,000 |
Gross derivative payables | 509,406,000,000 | 530,806,000,000 | ||||
Derivative netting adjustments | (467,713,000,000) | (493,029,000,000) | ||||
Net derivative payables | 41,693,000,000 | 37,777,000,000 | ||||
Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 261,459,000,000 | 315,992,000,000 | ||||
Derivative netting adjustments | (238,062,000,000) | (291,319,000,000) | ||||
Net derivative receivables | 23,397,000,000 | 24,673,000,000 | ||||
Gross derivative payables | 234,233,000,000 | 284,436,000,000 | ||||
Derivative netting adjustments | (227,142,000,000) | (277,306,000,000) | ||||
Net derivative payables | 7,091,000,000 | 7,129,000,000 | ||||
Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 23,505,000,000 | 23,205,000,000 | ||||
Derivative netting adjustments | (22,923,000,000) | (22,335,000,000) | ||||
Net derivative receivables | 582,000,000 | 869,000,000 | ||||
Gross derivative payables | 23,360,000,000 | 23,252,000,000 | ||||
Derivative netting adjustments | (21,908,000,000) | (21,954,000,000) | ||||
Net derivative payables | 1,452,000,000 | 1,299,000,000 | ||||
Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 188,884,000,000 | 160,231,000,000 | ||||
Derivative netting adjustments | (171,841,000,000) | (144,081,000,000) | ||||
Net derivative receivables | 17,043,000,000 | 16,151,000,000 | ||||
Gross derivative payables | 177,619,000,000 | 155,822,000,000 | ||||
Derivative netting adjustments | (165,217,000,000) | (143,349,000,000) | ||||
Net derivative payables | 12,402,000,000 | 12,473,000,000 | ||||
Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 46,932,000,000 | 40,040,000,000 | ||||
Derivative netting adjustments | (36,828,000,000) | (32,158,000,000) | ||||
Net derivative receivables | 10,104,000,000 | 7,882,000,000 | ||||
Gross derivative payables | 51,355,000,000 | 45,395,000,000 | ||||
Derivative netting adjustments | (39,377,000,000) | (36,203,000,000) | ||||
Net derivative payables | 11,978,000,000 | 9,192,000,000 | ||||
Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 22,368,000,000 | 20,085,000,000 | ||||
Derivative netting adjustments | (13,432,000,000) | (13,137,000,000) | ||||
Net derivative receivables | 8,936,000,000 | 6,948,000,000 | ||||
Gross derivative payables | 22,839,000,000 | 21,901,000,000 | ||||
Derivative netting adjustments | (14,069,000,000) | (14,217,000,000) | ||||
Net derivative payables | 8,770,000,000 | 7,684,000,000 | ||||
Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 79,375,000,000 | 86,672,000,000 | ||||
Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 7,048,000,000 | 5,025,000,000 | ||||
U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 27,816,000,000 | 22,745,000,000 | ||||
Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 38,121,000,000 | 32,338,000,000 | ||||
Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 75,000,000 | 59,000,000 | ||||
Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 24,674,000,000 | 27,294,000,000 | ||||
Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 2,056,000,000 | 2,757,000,000 | ||||
Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 27,913,000,000 | |||||
Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 20,109,000,000 | 20,996,000,000 | ||||
U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 44,200,000,000 | 45,800,000,000 | ||||
Residential mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 13,800,000,000 | 11,400,000,000 | ||||
Commercial mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 2,600,000,000 | 4,200,000,000 | ||||
Residential conforming mortgage intended for sale to government agency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 9,200,000,000 | 5,700,000,000 | ||||
Reverse mortgage | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 836,000,000 | ||||
Fair Value Measured at Net Asset Value Per Share | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets | 55,000,000 | 54,000,000 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Alternative investments, net asset value, fair value | 767,000,000 | 779,000,000 | ||||
Other assets | 712,000,000 | 725,000,000 | ||||
Recurring | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Federal funds sold and securities purchased under resale agreements | 12,226,000,000 | 14,732,000,000 | ||||
Securities borrowed | 4,528,000,000 | 3,049,000,000 | ||||
Trading assets, debt and equity instruments | 359,710,000,000 | 325,267,000,000 | ||||
Derivative netting adjustments | (483,086,000,000) | (503,030,000,000) | ||||
Net derivative receivables | 60,062,000,000 | 56,523,000,000 | ||||
Trading assets | 419,772,000,000 | 381,790,000,000 | ||||
Available-for-sale securities | 200,030,000,000 | |||||
Available-for-sale securities | 202,225,000,000 | |||||
Loans | 2,987,000,000 | 2,508,000,000 | ||||
Mortgage servicing rights | 6,433,000,000 | 6,030,000,000 | ||||
Total assets measured at fair value on a recurring basis | 657,743,000,000 | 625,737,000,000 | ||||
Deposits | 20,500,000,000 | 21,321,000,000 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,059,000,000 | 697,000,000 | ||||
Short-term borrowings | 7,885,000,000 | 9,191,000,000 | ||||
Trading liabilities, Debt and equity instruments | 109,457,000,000 | 85,886,000,000 | ||||
Derivative netting adjustments | (467,713,000,000) | (493,029,000,000) | ||||
Net derivative payables | 41,693,000,000 | 37,777,000,000 | ||||
Trading liabilities | 151,150,000,000 | 123,663,000,000 | ||||
Accounts payable and other liabilities | 5,159,000,000 | 9,208,000,000 | ||||
Beneficial interests issued by consolidated VIEs | 17,000,000 | 45,000,000 | ||||
Long-term debt | 54,112,000,000 | 47,519,000,000 | ||||
Total liabilities measured at fair value on a recurring basis | 239,882,000,000 | 211,644,000,000 | ||||
Recurring | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Derivative netting adjustments | (238,062,000,000) | (291,319,000,000) | ||||
Net derivative receivables | 23,397,000,000 | 24,673,000,000 | ||||
Derivative netting adjustments | (227,142,000,000) | (277,306,000,000) | ||||
Net derivative payables | 7,091,000,000 | 7,129,000,000 | ||||
Recurring | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Derivative netting adjustments | (22,923,000,000) | (22,335,000,000) | ||||
Net derivative receivables | 582,000,000 | 869,000,000 | ||||
Derivative netting adjustments | (21,908,000,000) | (21,954,000,000) | ||||
Net derivative payables | 1,452,000,000 | 1,299,000,000 | ||||
Recurring | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Derivative netting adjustments | (171,841,000,000) | (144,081,000,000) | ||||
Net derivative receivables | 17,043,000,000 | 16,151,000,000 | ||||
Derivative netting adjustments | (165,217,000,000) | (143,349,000,000) | ||||
Net derivative payables | 12,402,000,000 | 12,473,000,000 | ||||
Recurring | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Derivative netting adjustments | (36,828,000,000) | (32,158,000,000) | ||||
Net derivative receivables | 10,104,000,000 | 7,882,000,000 | ||||
Derivative netting adjustments | (39,377,000,000) | (36,203,000,000) | ||||
Net derivative payables | 11,978,000,000 | 9,192,000,000 | ||||
Recurring | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Derivative netting adjustments | (13,432,000,000) | (13,137,000,000) | ||||
Net derivative receivables | 8,936,000,000 | 6,948,000,000 | ||||
Derivative netting adjustments | (14,069,000,000) | (14,217,000,000) | ||||
Net derivative payables | 8,770,000,000 | 7,684,000,000 | ||||
Recurring | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Other assets | 11,767,000,000 | 15,403,000,000 | ||||
Fair value assets and liabilities measured on recurring basis - supplemental data | ||||||
Other assets | 12,479,000,000 | 16,128,000,000 | ||||
Recurring | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 234,691,000,000 | 216,296,000,000 | ||||
Recurring | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 49,972,000,000 | 45,373,000,000 | ||||
Available-for-sale securities | 79,375,000,000 | |||||
Available-for-sale securities | 86,672,000,000 | |||||
Recurring | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 46,781,000,000 | 41,822,000,000 | ||||
Available-for-sale securities | 63,110,000,000 | |||||
Available-for-sale securities | 70,280,000,000 | |||||
Recurring | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,758,000,000 | 1,895,000,000 | ||||
Available-for-sale securities | 9,217,000,000 | |||||
Available-for-sale securities | 11,367,000,000 | |||||
Recurring | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,433,000,000 | 1,656,000,000 | ||||
Available-for-sale securities | 7,048,000,000 | |||||
Available-for-sale securities | 5,025,000,000 | |||||
Recurring | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 48,258,000,000 | 37,234,000,000 | ||||
Available-for-sale securities | 27,816,000,000 | |||||
Available-for-sale securities | 22,745,000,000 | |||||
Recurring | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 9,484,000,000 | 9,811,000,000 | ||||
Available-for-sale securities | 38,121,000,000 | |||||
Available-for-sale securities | 32,338,000,000 | |||||
Recurring | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 3,070,000,000 | 226,000,000 | ||||
Recurring | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 75,000,000 | |||||
Available-for-sale securities | 59,000,000 | |||||
Recurring | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 55,863,000,000 | 57,796,000,000 | ||||
Available-for-sale securities | 24,674,000,000 | |||||
Available-for-sale securities | 27,294,000,000 | |||||
Recurring | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 23,605,000,000 | 24,458,000,000 | ||||
Available-for-sale securities | 2,056,000,000 | |||||
Available-for-sale securities | 2,757,000,000 | |||||
Recurring | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 41,584,000,000 | 37,961,000,000 | ||||
Recurring | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 2,855,000,000 | 3,437,000,000 | ||||
Recurring | Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 20,109,000,000 | |||||
Available-for-sale securities | 20,996,000,000 | |||||
Recurring | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 7,804,000,000 | |||||
Available-for-sale securities | 8,817,000,000 | |||||
Recurring | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 105,435,000,000 | 87,838,000,000 | ||||
Available-for-sale securities | 547,000,000 | |||||
Recurring | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 4,983,000,000 | 6,246,000,000 | ||||
Recurring | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 14,601,000,000 | 14,887,000,000 | ||||
Recurring | U.S. government-sponsored enterprise obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 77,300,000,000 | 78,000,000,000 | ||||
Recurring | Level 1 | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ||||
Securities borrowed | 0 | 0 | ||||
Trading assets, debt and equity instruments | 176,067,000,000 | 151,915,000,000 | ||||
Gross derivative receivables | 1,449,000,000 | 1,022,000,000 | ||||
Trading assets | 177,516,000,000 | 152,937,000,000 | ||||
Available-for-sale securities | 44,360,000,000 | |||||
Available-for-sale securities | 41,432,000,000 | |||||
Loans | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 232,560,000,000 | 208,164,000,000 | ||||
Deposits | 0 | 0 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Short-term borrowings | 0 | 0 | ||||
Trading liabilities, Debt and equity instruments | 84,958,000,000 | 64,664,000,000 | ||||
Gross derivative payables | 1,190,000,000 | 964,000,000 | ||||
Trading liabilities | 86,148,000,000 | 65,628,000,000 | ||||
Accounts payable and other liabilities | 5,127,000,000 | 9,074,000,000 | ||||
Beneficial interests issued by consolidated VIEs | 0 | 0 | ||||
Long-term debt | 0 | 0 | ||||
Total liabilities measured at fair value on a recurring basis | 91,275,000,000 | 74,702,000,000 | ||||
Recurring | Level 1 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 715,000,000 | 181,000,000 | ||||
Gross derivative payables | 310,000,000 | 170,000,000 | ||||
Recurring | Level 1 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 0 | 0 | ||||
Gross derivative payables | 0 | |||||
Recurring | Level 1 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 734,000,000 | 841,000,000 | ||||
Gross derivative payables | 880,000,000 | 794,000,000 | ||||
Recurring | Level 1 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 0 | 0 | ||||
Gross derivative payables | 0 | 0 | ||||
Recurring | Level 1 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 0 | 0 | ||||
Gross derivative payables | 0 | 0 | ||||
Recurring | Level 1 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Other assets | 10,684,000,000 | 13,795,000,000 | ||||
Recurring | Level 1 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 67,639,000,000 | 59,645,000,000 | ||||
Recurring | Level 1 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 40,815,000,000 | 30,758,000,000 | ||||
Available-for-sale securities | 27,816,000,000 | |||||
Available-for-sale securities | 22,745,000,000 | |||||
Recurring | Level 1 | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 1 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 26,824,000,000 | 28,887,000,000 | ||||
Available-for-sale securities | 16,544,000,000 | |||||
Available-for-sale securities | 18,140,000,000 | |||||
Recurring | Level 1 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 1 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 1 | Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 1 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 104,701,000,000 | 87,346,000,000 | ||||
Available-for-sale securities | 547,000,000 | |||||
Recurring | Level 1 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 3,727,000,000 | 4,924,000,000 | ||||
Recurring | Level 1 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 2 | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Federal funds sold and securities purchased under resale agreements | 12,226,000,000 | 14,732,000,000 | ||||
Securities borrowed | 4,528,000,000 | 3,049,000,000 | ||||
Trading assets, debt and equity instruments | 179,415,000,000 | 167,982,000,000 | ||||
Gross derivative receivables | 534,594,000,000 | 552,533,000,000 | ||||
Trading assets | 714,009,000,000 | 720,515,000,000 | ||||
Available-for-sale securities | 155,608,000,000 | |||||
Available-for-sale securities | 160,516,000,000 | |||||
Loans | 2,847,000,000 | 2,232,000,000 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Total assets measured at fair value on a recurring basis | 889,238,000,000 | 901,387,000,000 | ||||
Deposits | 16,060,000,000 | 17,179,000,000 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 1,059,000,000 | 697,000,000 | ||||
Short-term borrowings | 5,914,000,000 | 7,526,000,000 | ||||
Trading liabilities, Debt and equity instruments | 24,403,000,000 | 21,183,000,000 | ||||
Gross derivative payables | 498,725,000,000 | 519,594,000,000 | ||||
Trading liabilities | 523,128,000,000 | 540,777,000,000 | ||||
Accounts payable and other liabilities | 20,000,000 | 121,000,000 | ||||
Beneficial interests issued by consolidated VIEs | 16,000,000 | 6,000,000 | ||||
Long-term debt | 34,074,000,000 | 31,394,000,000 | ||||
Total liabilities measured at fair value on a recurring basis | 580,271,000,000 | 597,700,000,000 | ||||
Recurring | Level 2 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 258,744,000,000 | 314,107,000,000 | ||||
Gross derivative payables | 232,614,000,000 | 282,825,000,000 | ||||
Recurring | Level 2 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 22,553,000,000 | 21,995,000,000 | ||||
Gross derivative payables | 22,435,000,000 | 22,009,000,000 | ||||
Recurring | Level 2 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 187,377,000,000 | 158,834,000,000 | ||||
Gross derivative payables | 175,664,000,000 | 154,075,000,000 | ||||
Recurring | Level 2 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 43,791,000,000 | 37,722,000,000 | ||||
Gross derivative payables | 45,937,000,000 | 39,668,000,000 | ||||
Recurring | Level 2 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 22,129,000,000 | 19,875,000,000 | ||||
Gross derivative payables | 22,075,000,000 | 21,017,000,000 | ||||
Recurring | Level 2 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Other assets | 20,000,000 | 343,000,000 | ||||
Recurring | Level 2 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 163,566,000,000 | 152,266,000,000 | ||||
Recurring | Level 2 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 49,353,000,000 | 44,995,000,000 | ||||
Available-for-sale securities | 79,374,000,000 | |||||
Available-for-sale securities | 86,671,000,000 | |||||
Recurring | Level 2 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 46,252,000,000 | 41,515,000,000 | ||||
Available-for-sale securities | 63,110,000,000 | |||||
Available-for-sale securities | 70,280,000,000 | |||||
Recurring | Level 2 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,681,000,000 | 1,835,000,000 | ||||
Available-for-sale securities | 9,216,000,000 | |||||
Available-for-sale securities | 11,366,000,000 | |||||
Recurring | Level 2 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,420,000,000 | 1,645,000,000 | ||||
Available-for-sale securities | 7,048,000,000 | |||||
Available-for-sale securities | 5,025,000,000 | |||||
Recurring | Level 2 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 7,443,000,000 | 6,475,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 2 | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 8,785,000,000 | 9,067,000,000 | ||||
Available-for-sale securities | 38,121,000,000 | |||||
Available-for-sale securities | 32,338,000,000 | |||||
Recurring | Level 2 | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 3,070,000,000 | 226,000,000 | ||||
Recurring | Level 2 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 75,000,000 | |||||
Available-for-sale securities | 59,000,000 | |||||
Recurring | Level 2 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 28,875,000,000 | 28,831,000,000 | ||||
Available-for-sale securities | 8,130,000,000 | |||||
Available-for-sale securities | 9,154,000,000 | |||||
Recurring | Level 2 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 23,210,000,000 | 24,146,000,000 | ||||
Available-for-sale securities | 2,056,000,000 | |||||
Available-for-sale securities | 2,757,000,000 | |||||
Recurring | Level 2 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 40,051,000,000 | 35,242,000,000 | ||||
Recurring | Level 2 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 2,779,000,000 | 3,284,000,000 | ||||
Recurring | Level 2 | Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 20,048,000,000 | |||||
Available-for-sale securities | 20,720,000,000 | |||||
Recurring | Level 2 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 7,804,000,000 | |||||
Available-for-sale securities | 8,817,000,000 | |||||
Recurring | Level 2 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 405,000,000 | 197,000,000 | ||||
Available-for-sale securities | 0 | |||||
Recurring | Level 2 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,256,000,000 | 1,322,000,000 | ||||
Recurring | Level 2 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 14,188,000,000 | 14,197,000,000 | ||||
Recurring | Level 3 | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Federal funds sold and securities purchased under resale agreements | 0 | 0 | ||||
Securities borrowed | 0 | 0 | ||||
Trading assets, debt and equity instruments | 4,228,000,000 | 5,370,000,000 | ||||
Gross derivative receivables | 7,105,000,000 | 5,998,000,000 | ||||
Trading assets | 11,333,000,000 | 11,368,000,000 | ||||
Available-for-sale securities | 62,000,000 | |||||
Available-for-sale securities | 277,000,000 | |||||
Loans | 140,000,000 | 276,000,000 | ||||
Mortgage servicing rights | 6,433,000,000 | 6,030,000,000 | ||||
Total assets measured at fair value on a recurring basis | 19,031,000,000 | 19,216,000,000 | ||||
Deposits | 4,440,000,000 | 4,142,000,000 | ||||
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 | ||||
Short-term borrowings | 1,971,000,000 | 1,665,000,000 | ||||
Trading liabilities, Debt and equity instruments | 96,000,000 | 39,000,000 | ||||
Gross derivative payables | 9,491,000,000 | 10,248,000,000 | ||||
Trading liabilities | 9,587,000,000 | 10,287,000,000 | ||||
Accounts payable and other liabilities | 12,000,000 | 13,000,000 | ||||
Beneficial interests issued by consolidated VIEs | 1,000,000 | 39,000,000 | ||||
Long-term debt | 20,038,000,000 | 16,125,000,000 | ||||
Total liabilities measured at fair value on a recurring basis | 36,049,000,000 | 32,271,000,000 | ||||
Recurring | Level 3 | Interest rate | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 2,000,000,000 | 1,704,000,000 | ||||
Gross derivative payables | 1,309,000,000 | 1,440,000,000 | ||||
Recurring | Level 3 | Credit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 952,000,000 | 1,209,000,000 | ||||
Gross derivative payables | 925,000,000 | 1,244,000,000 | ||||
Recurring | Level 3 | Foreign exchange | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 773,000,000 | 557,000,000 | ||||
Gross derivative payables | 1,075,000,000 | 953,000,000 | ||||
Recurring | Level 3 | Equity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 3,141,000,000 | 2,318,000,000 | ||||
Gross derivative payables | 5,418,000,000 | 5,727,000,000 | ||||
Recurring | Level 3 | Commodity | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Gross derivative receivables | 239,000,000 | 210,000,000 | ||||
Gross derivative payables | 764,000,000 | 884,000,000 | ||||
Recurring | Level 3 | Other assets | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Other assets | 1,063,000,000 | 1,265,000,000 | ||||
Recurring | Level 3 | Total debt instruments | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 3,486,000,000 | 4,385,000,000 | ||||
Recurring | Level 3 | Total mortgage-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 619,000,000 | 378,000,000 | ||||
Available-for-sale securities | 1,000,000 | |||||
Available-for-sale securities | 1,000,000 | |||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 529,000,000 | 307,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Mortgage-backed securities, Residential - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 77,000,000 | 60,000,000 | ||||
Available-for-sale securities | 1,000,000 | |||||
Available-for-sale securities | 1,000,000 | |||||
Recurring | Level 3 | Mortgage-backed securities, Commercial - nonagency | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 13,000,000 | 11,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | U.S. Treasury and government agencies | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 1,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Obligations of U.S. states and municipalities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 699,000,000 | 744,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Certificates of deposit, bankers’ acceptances and commercial paper | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 3 | Certificates of deposit | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Non-U.S. government debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 164,000,000 | 78,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Corporate debt securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 395,000,000 | 312,000,000 | ||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Loans | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 1,533,000,000 | 2,719,000,000 | ||||
Recurring | Level 3 | Asset-backed securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 76,000,000 | 153,000,000 | ||||
Recurring | Level 3 | Asset-backed securities, Collateralized loan obligations | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 61,000,000 | |||||
Available-for-sale securities | 276,000,000 | |||||
Recurring | Level 3 | Asset-backed securities, Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Available-for-sale securities | 0 | |||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Equity securities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 329,000,000 | 295,000,000 | ||||
Available-for-sale securities | 0 | |||||
Recurring | Level 3 | Physical commodities | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | 0 | 0 | ||||
Recurring | Level 3 | Other | ||||||
Assets and liabilities measured at fair value on a recurring basis | ||||||
Trading assets, debt and equity instruments | $ 413,000,000 | $ 690,000,000 |
Fair Value Measurement - Transf
Fair Value Measurement - Transfers (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Total debt and equity instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Transfers from level 3 into level 2, assets | $ 472 | $ 431 | $ 1,245 | $ 1,425 |
Recurring | Derivative payables | Equity contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Transfers from level 3 into level 2, liabilities | 1,200 | |||
Transfers from level 2 into level 3, liabilities | 1,000 | |||
Recurring | Total debt and equity instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Transfers from level 3 into level 2, assets | 1,200 | |||
Recurring | Derivative receivables | Equity contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Transfers from level 3 into level 2, assets | $ 1,000 |
Fair Value Measurement - Level
Fair Value Measurement - Level 3 Inputs (Details) $ in Millions | Sep. 30, 2018USD ($)$ / shares$ / bbl | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans | $ 2,987 | $ 2,508 | ||||
Asset-backed securities | 200,030 | 201,678 | ||||
MSRs | $ 6,433 | $ 6,241 | 6,030 | $ 5,738 | $ 5,753 | $ 6,096 |
Assumed par value for price input (in dollars per share) | $ / shares | $ 100 | |||||
Obligations of U.S. states and municipalities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | $ 38,121 | 32,338 | ||||
Corporate debt securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 2,056 | 2,757 | ||||
Asset-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 27,913 | |||||
Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | $ 7,048 | 5,025 | ||||
Level 3 | Yield | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.08 | |||||
Level 3 | Yield | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.10 | |||||
Level 3 | Yield | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.08 | |||||
Level 3 | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | $ / shares | 34 | |||||
Level 3 | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | $ / shares | 106 | |||||
Level 3 | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | $ / shares | 45 | |||||
Level 3 | Credit spread | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.0070 | |||||
Level 3 | Credit spread | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.0070 | |||||
Level 3 | Credit spread | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 0.0070 | |||||
Level 3 | Interest rate spread volatility | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.0016 | |||||
Level 3 | Interest rate spread volatility | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.0038 | |||||
Level 3 | Interest rate correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | (0.45) | |||||
Level 3 | Interest rate correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.97 | |||||
Level 3 | IR-FX correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | (0.45) | |||||
Level 3 | IR-FX correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.60 | |||||
Level 3 | Equity correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.10 | |||||
Level 3 | Equity correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.95 | |||||
Level 3 | Equity-FX correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | (0.75) | |||||
Level 3 | Equity-FX correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.60 | |||||
Level 3 | Equity-IR correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.20 | |||||
Level 3 | Equity-IR correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits, measurement inputs | 0.60 | |||||
Level 3 | EBITDA multiple | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 3 | |||||
Level 3 | EBITDA multiple | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 9.2 | |||||
Level 3 | EBITDA multiple | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets, measurement inputs | 8.4 | |||||
Level 3 | Residential mortgage-backed securities and loans | Yield | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0 | |||||
Level 3 | Residential mortgage-backed securities and loans | Yield | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.28 | |||||
Level 3 | Residential mortgage-backed securities and loans | Yield | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.06 | |||||
Level 3 | Residential mortgage-backed securities and loans | Prepayment speed | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0 | |||||
Level 3 | Residential mortgage-backed securities and loans | Prepayment speed | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.39 | |||||
Level 3 | Residential mortgage-backed securities and loans | Prepayment speed | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.09 | |||||
Level 3 | Residential mortgage-backed securities and loans | Conditional default rate | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0 | |||||
Level 3 | Residential mortgage-backed securities and loans | Conditional default rate | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.06 | |||||
Level 3 | Residential mortgage-backed securities and loans | Conditional default rate | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.01 | |||||
Level 3 | Residential mortgage-backed securities and loans | Loss severity | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0 | |||||
Level 3 | Residential mortgage-backed securities and loans | Loss severity | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 1 | |||||
Level 3 | Residential mortgage-backed securities and loans | Loss severity | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | 0.05 | |||||
Level 3 | Commercial mortgage-backed securities and loans | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | $ / shares | 4 | |||||
Level 3 | Commercial mortgage-backed securities and loans | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | $ / shares | 101 | |||||
Level 3 | Commercial mortgage-backed securities and loans | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans, measurement input | $ / shares | 93 | |||||
Level 3 | Obligations of U.S. states and municipalities | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 60 | |||||
Level 3 | Obligations of U.S. states and municipalities | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 100 | |||||
Level 3 | Obligations of U.S. states and municipalities | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 97 | |||||
Level 3 | Corporate debt securities | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 3 | |||||
Level 3 | Corporate debt securities | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 110 | |||||
Level 3 | Corporate debt securities | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 80 | |||||
Level 3 | Asset-backed securities | Prepayment speed | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.20 | |||||
Level 3 | Asset-backed securities | Prepayment speed | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.20 | |||||
Level 3 | Asset-backed securities | Prepayment speed | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.20 | |||||
Level 3 | Asset-backed securities | Conditional default rate | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.02 | |||||
Level 3 | Asset-backed securities | Conditional default rate | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.02 | |||||
Level 3 | Asset-backed securities | Conditional default rate | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.02 | |||||
Level 3 | Asset-backed securities | Loss severity | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.30 | |||||
Level 3 | Asset-backed securities | Loss severity | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.30 | |||||
Level 3 | Asset-backed securities | Loss severity | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.30 | |||||
Level 3 | Asset-backed securities | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 0 | |||||
Level 3 | Asset-backed securities | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 100 | |||||
Level 3 | Asset-backed securities | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading, measurement input | $ / shares | 51 | |||||
Level 3 | Asset-backed securities | Credit spread | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.0219 | |||||
Level 3 | Asset-backed securities | Credit spread | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.0219 | |||||
Level 3 | Asset-backed securities | Credit spread | Discounted cash flows | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities, measurement inputs | 0.0219 | |||||
Level 3 | Net interest rate derivatives | Prepayment speed | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0 | |||||
Level 3 | Net interest rate derivatives | Prepayment speed | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.30 | |||||
Level 3 | Net interest rate derivatives | Interest rate spread volatility | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.0016 | |||||
Level 3 | Net interest rate derivatives | Interest rate spread volatility | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.0038 | |||||
Level 3 | Net interest rate derivatives | Interest rate correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | (0.45) | |||||
Level 3 | Net interest rate derivatives | Interest rate correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.97 | |||||
Level 3 | Net interest rate derivatives | IR-FX correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.55 | |||||
Level 3 | Net interest rate derivatives | IR-FX correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net credit derivatives | Yield | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.03 | |||||
Level 3 | Net credit derivatives | Yield | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.52 | |||||
Level 3 | Net credit derivatives | Prepayment speed | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.05 | |||||
Level 3 | Net credit derivatives | Prepayment speed | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.17 | |||||
Level 3 | Net credit derivatives | Conditional default rate | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0 | |||||
Level 3 | Net credit derivatives | Conditional default rate | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 1 | |||||
Level 3 | Net credit derivatives | Loss severity | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0 | |||||
Level 3 | Net credit derivatives | Loss severity | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 1 | |||||
Level 3 | Net credit derivatives | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 10 | |||||
Level 3 | Net credit derivatives | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 98 | |||||
Level 3 | Net credit derivatives | Credit spread | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.0006 | |||||
Level 3 | Net credit derivatives | Credit spread | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.1543 | |||||
Level 3 | Net credit derivatives | Credit correlation | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.35 | |||||
Level 3 | Net credit derivatives | Credit correlation | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net credit derivatives | Recovery rate | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.20 | |||||
Level 3 | Net credit derivatives | Recovery rate | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.70 | |||||
Level 3 | Net foreign exchange derivatives | Prepayment speed | Discounted cash flows | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.08 | |||||
Level 3 | Net foreign exchange derivatives | Prepayment speed | Discounted cash flows | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.09 | |||||
Level 3 | Net foreign exchange derivatives | IR-FX correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | (0.45) | |||||
Level 3 | Net foreign exchange derivatives | IR-FX correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net equity derivatives | Equity volatility | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.10 | |||||
Level 3 | Net equity derivatives | Equity volatility | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net equity derivatives | Equity correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.10 | |||||
Level 3 | Net equity derivatives | Equity correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.95 | |||||
Level 3 | Net equity derivatives | Equity-FX correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | (0.75) | |||||
Level 3 | Net equity derivatives | Equity-FX correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net equity derivatives | Equity-IR correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.20 | |||||
Level 3 | Net equity derivatives | Equity-IR correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.60 | |||||
Level 3 | Net commodity derivatives | Forward commodity price | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | $ / bbl | 61 | |||||
Level 3 | Net commodity derivatives | Forward commodity price | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | $ / bbl | 83 | |||||
Level 3 | Net commodity derivatives | Commodity volatility | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.05 | |||||
Level 3 | Net commodity derivatives | Commodity volatility | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.48 | |||||
Level 3 | Net commodity derivatives | Commodity correlation | Option pricing | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | (0.52) | |||||
Level 3 | Net commodity derivatives | Commodity correlation | Option pricing | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability), measurement inputs | 0.95 | |||||
Level 3 | Trading loans | Price | Market comparables | Minimum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans, measurement input | $ / shares | 3 | |||||
Level 3 | Trading loans | Price | Market comparables | Maximum | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans, measurement input | $ / shares | 102 | |||||
Level 3 | Trading loans | Price | Market comparables | Weighted average | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans, measurement input | $ / shares | 79 | |||||
Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans | $ 2,987 | 2,508 | ||||
Asset-backed securities | 200,030 | |||||
MSRs | 6,433 | 6,030 | ||||
Long-term debt, short-term borrowings, and deposits | 239,882 | 211,644 | ||||
Recurring | Obligations of U.S. states and municipalities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 38,121 | |||||
Recurring | Corporate debt securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 2,056 | |||||
Recurring | Mortgage-backed securities, U.S. government agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 63,110 | |||||
Recurring | Residential mortgage-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 9,217 | |||||
Recurring | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 7,048 | |||||
Recurring | Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans | 140 | 276 | ||||
Asset-backed securities | 62 | |||||
MSRs | 6,433 | 6,030 | ||||
Long-term debt, short-term borrowings, and deposits | 36,049 | $ 32,271 | ||||
Other level 3 asset and liabilities, net | 384 | |||||
Recurring | Level 3 | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
MSRs | 6,433 | |||||
Other assets | 322 | |||||
Recurring | Level 3 | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Other assets | 1,154 | |||||
Recurring | Level 3 | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Long-term debt, short-term borrowings, and deposits | 26,449 | |||||
Recurring | Level 3 | Residential mortgage-backed securities and loans | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 823 | |||||
Recurring | Level 3 | Commercial mortgage-backed securities and loans | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 439 | |||||
Recurring | Level 3 | Obligations of U.S. states and municipalities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 0 | |||||
Recurring | Level 3 | Obligations of U.S. states and municipalities | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading | 699 | |||||
Recurring | Level 3 | Corporate debt securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 0 | |||||
Recurring | Level 3 | Corporate debt securities | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading | 395 | |||||
Recurring | Level 3 | Asset-backed securities | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 61 | |||||
Recurring | Level 3 | Asset-backed securities | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities, trading | 76 | |||||
Recurring | Level 3 | Net interest rate derivatives | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 163 | |||||
Recurring | Level 3 | Net interest rate derivatives | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 528 | |||||
Recurring | Level 3 | Net credit derivatives | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 26 | |||||
Recurring | Level 3 | Net credit derivatives | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | 1 | |||||
Recurring | Level 3 | Net foreign exchange derivatives | Discounted cash flows | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (181) | |||||
Recurring | Level 3 | Net foreign exchange derivatives | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (121) | |||||
Recurring | Level 3 | Net equity derivatives | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (2,277) | |||||
Recurring | Level 3 | Net commodity derivatives | Option pricing | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Net derivative asset (liability) | (525) | |||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 0 | |||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | Discounted cash flows | Residential mortgage-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 502 | |||||
Recurring | Level 3 | Mortgage-backed securities, U.S. government agencies | Market comparables | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 27 | |||||
Recurring | Level 3 | Residential mortgage-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 1 | |||||
Recurring | Level 3 | Residential mortgage-backed securities | Discounted cash flows | Residential mortgage-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 78 | |||||
Recurring | Level 3 | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Asset-backed securities | 0 | |||||
Recurring | Level 3 | Commercial | Market comparables | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 13 | |||||
Recurring | Level 3 | Trading loans | Discounted cash flows | Residential mortgage-backed securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 243 | |||||
Recurring | Level 3 | Trading loans | Market comparables | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Loans | 1,031 | |||||
Recurring | Level 3 | Trading loans | Market comparables | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | 259 | |||||
Recurring | Level 3 | Nontrading loans | Market comparables | Commercial | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Debt securities and loans | $ 140 |
Fair Value Measurement - Change
Fair Value Measurement - Changes in Level 3 Recurring Measurements (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Net derivative receivables: | |||||
Fair value, beginning balance | $ (3,110,000,000) | $ (2,521,000,000) | $ (4,250,000,000) | $ (2,360,000,000) | |
Total realized/unrealized gains/(losses) | 385,000,000 | 45,000,000 | 1,935,000,000 | 132,000,000 | |
Purchases | 701,000,000 | 380,000,000 | 1,595,000,000 | 907,000,000 | |
Sales | (664,000,000) | (210,000,000) | (2,018,000,000) | (398,000,000) | |
Settlements | 406,000,000 | (251,000,000) | 498,000,000 | (902,000,000) | |
Transfers into level 3 | (164,000,000) | 19,000,000 | (386,000,000) | (84,000,000) | |
Transfers (out of) level 3 | 60,000,000 | 152,000,000 | 240,000,000 | 319,000,000 | |
Fair value, ending balance | (2,386,000,000) | (2,386,000,000) | (2,386,000,000) | (2,386,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | $ 164,000,000 | 39,000,000 | $ 736,000,000 | (150,000,000) | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Level 3 liabilities as a percentage of total firm liabilities at fair value | 15.00% | 15.00% | 15.00% | ||
Deposits | |||||
Liabilities: | |||||
Fair value, beginning balance | $ 4,305,000,000 | 2,131,000,000 | $ 4,142,000,000 | 2,117,000,000 | |
Total realized/unrealized (gains)/losses | (84,000,000) | 33,000,000 | (125,000,000) | 39,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 517,000,000 | 1,909,000,000 | 1,272,000,000 | 2,510,000,000 | |
Settlements | (170,000,000) | (58,000,000) | (425,000,000) | (169,000,000) | |
Transfers into level 3 | 1,000,000 | 0 | 2,000,000 | 0 | |
Transfers (out of) level 3 | (129,000,000) | (177,000,000) | (426,000,000) | (659,000,000) | |
Fair value, ending balance | 4,440,000,000 | 3,838,000,000 | 4,440,000,000 | 3,838,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | (82,000,000) | 27,000,000 | (115,000,000) | 140,000,000 | |
Federal funds purchased and securities loaned or sold under repurchase agreements | |||||
Liabilities: | |||||
Fair value, beginning balance | 0 | 0 | |||
Total realized/unrealized (gains)/losses | 0 | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into level 3 | 1,000,000 | 1,000,000 | |||
Transfers (out of) level 3 | 0 | 0 | |||
Fair value, ending balance | 1,000,000 | 1,000,000 | |||
Change in unrealized (gains)/losses related to financials instruments held | 0 | 0 | |||
Short-term borrowings | |||||
Liabilities: | |||||
Fair value, beginning balance | 2,209,000,000 | 1,314,000,000 | 1,665,000,000 | 1,134,000,000 | |
Total realized/unrealized (gains)/losses | (47,000,000) | 33,000,000 | (229,000,000) | 80,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | ||
Issuances | 713,000,000 | 818,000,000 | 2,783,000,000 | 2,208,000,000 | |
Settlements | (885,000,000) | (631,000,000) | (2,245,000,000) | (1,873,000,000) | |
Transfers into level 3 | 6,000,000 | 13,000,000 | 61,000,000 | 53,000,000 | |
Transfers (out of) level 3 | (25,000,000) | (76,000,000) | (64,000,000) | (131,000,000) | |
Fair value, ending balance | 1,971,000,000 | 1,471,000,000 | 1,971,000,000 | 1,471,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | (31,000,000) | 21,000,000 | 26,000,000 | 50,000,000 | |
Total debt and equity instruments | |||||
Liabilities: | |||||
Fair value, beginning balance | 43,000,000 | 36,000,000 | 39,000,000 | 43,000,000 | |
Total realized/unrealized (gains)/losses | 36,000,000 | 2,000,000 | 28,000,000 | 1,000,000 | |
Purchases | (6,000,000) | (23,000,000) | (68,000,000) | (31,000,000) | |
Sales | 19,000,000 | 28,000,000 | 95,000,000 | 32,000,000 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (2,000,000) | 0 | (1,000,000) | 1,000,000 | |
Transfers into level 3 | 7,000,000 | 0 | 9,000,000 | 3,000,000 | |
Transfers (out of) level 3 | (1,000,000) | 0 | (6,000,000) | (6,000,000) | |
Fair value, ending balance | 96,000,000 | 43,000,000 | 96,000,000 | 43,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 36,000,000 | 3,000,000 | 11,000,000 | 1,000,000 | |
Accounts payable and other liabilities | |||||
Liabilities: | |||||
Fair value, beginning balance | 8,000,000 | 10,000,000 | 13,000,000 | 13,000,000 | |
Total realized/unrealized (gains)/losses | 1,000,000 | 0 | 0 | 0 | |
Purchases | 0 | 0 | (6,000,000) | (1,000,000) | |
Sales | 0 | 0 | 1,000,000 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | (1,000,000) | 0 | (3,000,000) | |
Transfers into level 3 | 3,000,000 | 0 | 4,000,000 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 12,000,000 | 9,000,000 | 12,000,000 | 9,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 1,000,000 | 0 | 0 | 0 | |
Beneficial interests issued by consolidated VIEs | |||||
Liabilities: | |||||
Fair value, beginning balance | 1,000,000 | 1,000,000 | 39,000,000 | 48,000,000 | |
Total realized/unrealized (gains)/losses | 0 | 0 | 0 | 3,000,000 | |
Purchases | 0 | 0 | 0 | (44,000,000) | |
Sales | 0 | 39,000,000 | 0 | 39,000,000 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | (38,000,000) | (6,000,000) | |
Transfers into level 3 | 0 | 78,000,000 | 0 | 78,000,000 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 1,000,000 | 118,000,000 | 1,000,000 | 118,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 0 | 0 | 0 | 0 | |
Long-term debt | |||||
Liabilities: | |||||
Fair value, beginning balance | 18,262,000,000 | 14,732,000,000 | 16,125,000,000 | 12,850,000,000 | |
Total realized/unrealized (gains)/losses | 194,000,000 | 319,000,000 | (396,000,000) | 918,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 3,551,000,000 | 3,023,000,000 | 10,382,000,000 | 9,756,000,000 | |
Settlements | (1,809,000,000) | (3,552,000,000) | (6,155,000,000) | (8,637,000,000) | |
Transfers into level 3 | 59,000,000 | 181,000,000 | 653,000,000 | 269,000,000 | |
Transfers (out of) level 3 | (219,000,000) | (209,000,000) | (571,000,000) | (662,000,000) | |
Fair value, ending balance | 20,038,000,000 | 14,494,000,000 | 20,038,000,000 | 14,494,000,000 | |
Change in unrealized (gains)/losses related to financials instruments held | 192,000,000 | 242,000,000 | (576,000,000) | 996,000,000 | |
Debit valuation adjustment for fair value option financial liabilities | |||||
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Unrealized (gains)/losses on liabilities recorded in OCI | 123,000,000 | ||||
Interest rate | |||||
Net derivative receivables: | |||||
Fair value, beginning balance | 489,000,000 | 712,000,000 | 264,000,000 | 1,263,000,000 | |
Total realized/unrealized gains/(losses) | 236,000,000 | 101,000,000 | 576,000,000 | 182,000,000 | |
Purchases | 28,000,000 | 16,000,000 | 83,000,000 | 53,000,000 | |
Sales | (22,000,000) | (23,000,000) | (77,000,000) | (76,000,000) | |
Settlements | (101,000,000) | (182,000,000) | (234,000,000) | (833,000,000) | |
Transfers into level 3 | 68,000,000 | 21,000,000 | 40,000,000 | 55,000,000 | |
Transfers (out of) level 3 | (7,000,000) | 19,000,000 | 39,000,000 | 20,000,000 | |
Fair value, ending balance | 691,000,000 | 664,000,000 | 691,000,000 | 664,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 216,000,000 | (7,000,000) | 498,000,000 | (184,000,000) | |
Credit | |||||
Net derivative receivables: | |||||
Fair value, beginning balance | (24,000,000) | (45,000,000) | (35,000,000) | 98,000,000 | |
Total realized/unrealized gains/(losses) | (19,000,000) | (32,000,000) | 19,000,000 | (126,000,000) | |
Purchases | 1,000,000 | 0 | 3,000,000 | 1,000,000 | |
Sales | 0 | (1,000,000) | (7,000,000) | (4,000,000) | |
Settlements | 47,000,000 | (2,000,000) | 22,000,000 | (64,000,000) | |
Transfers into level 3 | 6,000,000 | 40,000,000 | 5,000,000 | 57,000,000 | |
Transfers (out of) level 3 | 16,000,000 | 4,000,000 | 20,000,000 | 2,000,000 | |
Fair value, ending balance | 27,000,000 | (36,000,000) | 27,000,000 | (36,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (15,000,000) | (22,000,000) | 7,000,000 | (57,000,000) | |
Foreign exchange | |||||
Net derivative receivables: | |||||
Fair value, beginning balance | (245,000,000) | (686,000,000) | (396,000,000) | (1,384,000,000) | |
Total realized/unrealized gains/(losses) | (56,000,000) | 16,000,000 | 184,000,000 | 86,000,000 | |
Purchases | 29,000,000 | 9,000,000 | 42,000,000 | 13,000,000 | |
Sales | (7,000,000) | (2,000,000) | (15,000,000) | (6,000,000) | |
Settlements | (49,000,000) | 68,000,000 | (46,000,000) | 633,000,000 | |
Transfers into level 3 | (2,000,000) | (39,000,000) | (114,000,000) | (16,000,000) | |
Transfers (out of) level 3 | 28,000,000 | 95,000,000 | 43,000,000 | 135,000,000 | |
Fair value, ending balance | (302,000,000) | (539,000,000) | (302,000,000) | (539,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (54,000,000) | 37,000,000 | 42,000,000 | (12,000,000) | |
Equity | |||||
Net derivative receivables: | |||||
Fair value, beginning balance | (2,578,000,000) | (2,444,000,000) | (3,409,000,000) | (2,252,000,000) | |
Total realized/unrealized gains/(losses) | (94,000,000) | (10,000,000) | 688,000,000 | 24,000,000 | |
Purchases | 643,000,000 | 355,000,000 | 1,467,000,000 | 840,000,000 | |
Sales | (635,000,000) | (184,000,000) | (1,919,000,000) | (312,000,000) | |
Settlements | 622,000,000 | (132,000,000) | 1,043,000,000 | (660,000,000) | |
Transfers into level 3 | (251,000,000) | (1,000,000) | (324,000,000) | (182,000,000) | |
Transfers (out of) level 3 | 16,000,000 | 41,000,000 | 177,000,000 | 167,000,000 | |
Fair value, ending balance | (2,277,000,000) | (2,375,000,000) | (2,277,000,000) | (2,375,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | (121,000,000) | 82,000,000 | 31,000,000 | 76,000,000 | |
Commodity | |||||
Net derivative receivables: | |||||
Fair value, beginning balance | (752,000,000) | (58,000,000) | (674,000,000) | (85,000,000) | |
Total realized/unrealized gains/(losses) | 318,000,000 | (30,000,000) | 468,000,000 | (34,000,000) | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | (113,000,000) | (3,000,000) | (287,000,000) | 22,000,000 | |
Transfers into level 3 | 15,000,000 | (2,000,000) | 7,000,000 | 2,000,000 | |
Transfers (out of) level 3 | 7,000,000 | (7,000,000) | (39,000,000) | (5,000,000) | |
Fair value, ending balance | (525,000,000) | (100,000,000) | (525,000,000) | (100,000,000) | |
Change in unrealized gains/(losses) related to financial instruments held | 138,000,000 | (51,000,000) | 158,000,000 | 27,000,000 | |
Total mortgage-backed securities | |||||
Assets: | |||||
Fair value, beginning balance | 583,000,000 | 528,000,000 | 378,000,000 | 492,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | 7,000,000 | 8,000,000 | 10,000,000 | |
Purchases | 14,000,000 | 14,000,000 | 400,000,000 | 228,000,000 | |
Sales | (34,000,000) | (43,000,000) | (153,000,000) | (228,000,000) | |
Settlements | (20,000,000) | (32,000,000) | (75,000,000) | (81,000,000) | |
Transfers into level 3 | 110,000,000 | 63,000,000 | 180,000,000 | 211,000,000 | |
Transfers (out of) level 3 | (36,000,000) | (80,000,000) | (119,000,000) | (175,000,000) | |
Fair value, ending balance | 619,000,000 | 457,000,000 | 619,000,000 | 457,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 6,000,000 | 6,000,000 | (14,000,000) | |
Mortgage-backed securities, U.S. government agencies | |||||
Assets: | |||||
Fair value, beginning balance | 478,000,000 | 365,000,000 | 307,000,000 | 392,000,000 | |
Total realized/unrealized gains/(losses) | 2,000,000 | (2,000,000) | 5,000,000 | (9,000,000) | |
Purchases | 14,000,000 | 0 | 348,000,000 | 161,000,000 | |
Sales | (28,000,000) | (15,000,000) | (126,000,000) | (166,000,000) | |
Settlements | (17,000,000) | (20,000,000) | (56,000,000) | (55,000,000) | |
Transfers into level 3 | 83,000,000 | 10,000,000 | 92,000,000 | 37,000,000 | |
Transfers (out of) level 3 | (3,000,000) | (15,000,000) | (41,000,000) | (37,000,000) | |
Fair value, ending balance | 529,000,000 | 323,000,000 | 529,000,000 | 323,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | (2,000,000) | 3,000,000 | (17,000,000) | |
Mortgage-backed securities, Residential - nonagency | |||||
Assets: | |||||
Fair value, beginning balance | 87,000,000 | 98,000,000 | 60,000,000 | 83,000,000 | |
Total realized/unrealized gains/(losses) | 1,000,000 | 6,000,000 | 1,000,000 | 14,000,000 | |
Purchases | 0 | 4,000,000 | 45,000,000 | 40,000,000 | |
Sales | (6,000,000) | (4,000,000) | (19,000,000) | (24,000,000) | |
Settlements | (3,000,000) | (12,000,000) | (6,000,000) | (21,000,000) | |
Transfers into level 3 | 18,000,000 | 50,000,000 | 58,000,000 | 111,000,000 | |
Transfers (out of) level 3 | (20,000,000) | (35,000,000) | (62,000,000) | (96,000,000) | |
Fair value, ending balance | 77,000,000 | 107,000,000 | 77,000,000 | 107,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 1,000,000 | 5,000,000 | 4,000,000 | 2,000,000 | |
Mortgage-backed securities, Commercial - nonagency | |||||
Assets: | |||||
Fair value, beginning balance | 18,000,000 | 65,000,000 | 11,000,000 | 17,000,000 | |
Total realized/unrealized gains/(losses) | (1,000,000) | 3,000,000 | 2,000,000 | 5,000,000 | |
Purchases | 0 | 10,000,000 | 7,000,000 | 27,000,000 | |
Sales | 0 | (24,000,000) | (8,000,000) | (38,000,000) | |
Settlements | 0 | 0 | (13,000,000) | (5,000,000) | |
Transfers into level 3 | 9,000,000 | 3,000,000 | 30,000,000 | 63,000,000 | |
Transfers (out of) level 3 | (13,000,000) | (30,000,000) | (16,000,000) | (42,000,000) | |
Fair value, ending balance | 13,000,000 | 27,000,000 | 13,000,000 | 27,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (1,000,000) | 3,000,000 | (1,000,000) | 1,000,000 | |
Total debt and equity instruments | |||||
Assets: | |||||
Fair value, beginning balance | 4,543,000,000 | 7,293,000,000 | 5,370,000,000 | 7,894,000,000 | |
Total realized/unrealized gains/(losses) | 72,000,000 | 179,000,000 | (157,000,000) | 489,000,000 | |
Purchases | 452,000,000 | 1,258,000,000 | 2,632,000,000 | 3,973,000,000 | |
Sales | (421,000,000) | (2,173,000,000) | (2,520,000,000) | (4,041,000,000) | |
Settlements | (276,000,000) | (508,000,000) | (828,000,000) | (1,851,000,000) | |
Transfers into level 3 | 330,000,000 | 453,000,000 | 976,000,000 | 1,032,000,000 | |
Transfers (out of) level 3 | (472,000,000) | (431,000,000) | (1,245,000,000) | (1,425,000,000) | |
Fair value, ending balance | 4,228,000,000 | 6,071,000,000 | 4,228,000,000 | 6,071,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (7,000,000) | 115,000,000 | (269,000,000) | 167,000,000 | |
Total debt instruments | |||||
Assets: | |||||
Fair value, beginning balance | 3,849,000,000 | 6,278,000,000 | 4,385,000,000 | 6,902,000,000 | |
Total realized/unrealized gains/(losses) | 22,000,000 | 153,000,000 | 53,000,000 | 364,000,000 | |
Purchases | 433,000,000 | 1,224,000,000 | 2,486,000,000 | 3,804,000,000 | |
Sales | (373,000,000) | (2,095,000,000) | (2,372,000,000) | (3,909,000,000) | |
Settlements | (239,000,000) | (483,000,000) | (752,000,000) | (1,714,000,000) | |
Transfers into level 3 | 246,000,000 | 437,000,000 | 887,000,000 | 1,004,000,000 | |
Transfers (out of) level 3 | (452,000,000) | (422,000,000) | (1,201,000,000) | (1,359,000,000) | |
Fair value, ending balance | 3,486,000,000 | 5,092,000,000 | 3,486,000,000 | 5,092,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 1,000,000 | 92,000,000 | (30,000,000) | 87,000,000 | |
U.S. Treasury and government agencies | |||||
Assets: | |||||
Fair value, beginning balance | 0 | 0 | 1,000,000 | 0 | |
Total realized/unrealized gains/(losses) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Transfers into level 3 | 0 | 1,000,000 | 0 | 1,000,000 | |
Transfers (out of) level 3 | 0 | 0 | (1,000,000) | 0 | |
Fair value, ending balance | 0 | 1,000,000 | 0 | 1,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 0 | 0 | 0 | |
Obligations of U.S. states and municipalities | |||||
Assets: | |||||
Fair value, beginning balance | 736,000,000 | 681,000,000 | 744,000,000 | 649,000,000 | |
Total realized/unrealized gains/(losses) | 8,000,000 | 3,000,000 | (3,000,000) | 15,000,000 | |
Purchases | 26,000,000 | 31,000,000 | 107,000,000 | 126,000,000 | |
Sales | (70,000,000) | 0 | (70,000,000) | (70,000,000) | |
Settlements | (1,000,000) | 0 | (79,000,000) | (5,000,000) | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 699,000,000 | 715,000,000 | 699,000,000 | 715,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 7,000,000 | 3,000,000 | (3,000,000) | 15,000,000 | |
Non-U.S. government debt securities | |||||
Assets: | |||||
Fair value, beginning balance | 183,000,000 | 37,000,000 | 78,000,000 | 46,000,000 | |
Total realized/unrealized gains/(losses) | (9,000,000) | 0 | (19,000,000) | 3,000,000 | |
Purchases | 44,000,000 | 252,000,000 | 395,000,000 | 426,000,000 | |
Sales | (29,000,000) | (217,000,000) | (213,000,000) | (395,000,000) | |
Settlements | (2,000,000) | 0 | (2,000,000) | 0 | |
Transfers into level 3 | 1,000,000 | 23,000,000 | 18,000,000 | 50,000,000 | |
Transfers (out of) level 3 | (24,000,000) | (15,000,000) | (93,000,000) | (50,000,000) | |
Fair value, ending balance | 164,000,000 | 80,000,000 | 164,000,000 | 80,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (9,000,000) | 0 | (18,000,000) | 0 | |
Corporate debt securities | |||||
Assets: | |||||
Fair value, beginning balance | 274,000,000 | 461,000,000 | 312,000,000 | 576,000,000 | |
Total realized/unrealized gains/(losses) | (2,000,000) | 7,000,000 | (6,000,000) | 0 | |
Purchases | 156,000,000 | 193,000,000 | 297,000,000 | 690,000,000 | |
Sales | (87,000,000) | (327,000,000) | (227,000,000) | (473,000,000) | |
Settlements | (4,000,000) | (22,000,000) | (15,000,000) | (398,000,000) | |
Transfers into level 3 | 82,000,000 | 68,000,000 | 249,000,000 | 128,000,000 | |
Transfers (out of) level 3 | (24,000,000) | (19,000,000) | (215,000,000) | (162,000,000) | |
Fair value, ending balance | 395,000,000 | 361,000,000 | 395,000,000 | 361,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (3,000,000) | 8,000,000 | (1,000,000) | 11,000,000 | |
Loans | |||||
Assets: | |||||
Fair value, beginning balance | 1,986,000,000 | 4,488,000,000 | 2,719,000,000 | 4,837,000,000 | |
Total realized/unrealized gains/(losses) | 17,000,000 | 131,000,000 | 58,000,000 | 309,000,000 | |
Purchases | 188,000,000 | 564,000,000 | 1,223,000,000 | 2,055,000,000 | |
Sales | (146,000,000) | (1,498,000,000) | (1,680,000,000) | (2,565,000,000) | |
Settlements | (199,000,000) | (421,000,000) | (528,000,000) | (1,186,000,000) | |
Transfers into level 3 | 48,000,000 | 246,000,000 | 422,000,000 | 564,000,000 | |
Transfers (out of) level 3 | (361,000,000) | (303,000,000) | (681,000,000) | (807,000,000) | |
Fair value, ending balance | 1,533,000,000 | 3,207,000,000 | 1,533,000,000 | 3,207,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 3,000,000 | 71,000,000 | (22,000,000) | 73,000,000 | |
Asset-backed securities | |||||
Assets: | |||||
Fair value, beginning balance | 87,000,000 | 83,000,000 | 153,000,000 | 302,000,000 | |
Total realized/unrealized gains/(losses) | 6,000,000 | 5,000,000 | 15,000,000 | 27,000,000 | |
Purchases | 5,000,000 | 170,000,000 | 64,000,000 | 279,000,000 | |
Sales | (7,000,000) | (10,000,000) | (29,000,000) | (178,000,000) | |
Settlements | (13,000,000) | (8,000,000) | (53,000,000) | (44,000,000) | |
Transfers into level 3 | 5,000,000 | 36,000,000 | 18,000,000 | 50,000,000 | |
Transfers (out of) level 3 | (7,000,000) | (5,000,000) | (92,000,000) | (165,000,000) | |
Fair value, ending balance | 76,000,000 | 271,000,000 | 76,000,000 | 271,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 3,000,000 | 4,000,000 | 8,000,000 | 2,000,000 | |
Equity securities | |||||
Assets: | |||||
Fair value, beginning balance | 288,000,000 | 284,000,000 | 295,000,000 | 231,000,000 | |
Total realized/unrealized gains/(losses) | 20,000,000 | 6,000,000 | (1,000,000) | 40,000,000 | |
Purchases | 6,000,000 | 29,000,000 | 99,000,000 | 142,000,000 | |
Sales | (48,000,000) | (40,000,000) | (108,000,000) | (87,000,000) | |
Settlements | 0 | 0 | (1,000,000) | 0 | |
Transfers into level 3 | 82,000,000 | 16,000,000 | 86,000,000 | 18,000,000 | |
Transfers (out of) level 3 | (19,000,000) | (7,000,000) | (41,000,000) | (56,000,000) | |
Fair value, ending balance | 329,000,000 | 288,000,000 | 329,000,000 | 288,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (18,000,000) | 7,000,000 | 11,000,000 | 34,000,000 | |
Other | |||||
Assets: | |||||
Fair value, beginning balance | 406,000,000 | 731,000,000 | 690,000,000 | 761,000,000 | |
Total realized/unrealized gains/(losses) | 30,000,000 | 20,000,000 | (209,000,000) | 85,000,000 | |
Purchases | 13,000,000 | 5,000,000 | 47,000,000 | 27,000,000 | |
Sales | 0 | (38,000,000) | (40,000,000) | (45,000,000) | |
Settlements | (37,000,000) | (25,000,000) | (75,000,000) | (137,000,000) | |
Transfers into level 3 | 2,000,000 | 0 | 3,000,000 | 10,000,000 | |
Transfers (out of) level 3 | (1,000,000) | (2,000,000) | (3,000,000) | (10,000,000) | |
Fair value, ending balance | 413,000,000 | 691,000,000 | 413,000,000 | 691,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 10,000,000 | 16,000,000 | (250,000,000) | 46,000,000 | |
Total available-for-sale securities | |||||
Assets: | |||||
Fair value, beginning balance | 148,000,000 | 548,000,000 | 277,000,000 | 664,000,000 | |
Total realized/unrealized gains/(losses) | 0 | 2,000,000 | 1,000,000 | 14,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | (50,000,000) | |
Settlements | (86,000,000) | (63,000,000) | (216,000,000) | (141,000,000) | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 62,000,000 | 487,000,000 | 62,000,000 | 487,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 2,000,000 | 1,000,000 | 12,000,000 | |
Level 3 Rollforward Supplemental Data [Abstract] | |||||
Realized gains/(losses) recorded in income | 0 | 0 | 0 | 0 | |
Unrealized gains/(losses) recorded in OCI | 0 | 2,000,000 | 1,000,000 | 14,000,000 | |
Asset-backed securities | |||||
Assets: | |||||
Fair value, beginning balance | 147,000,000 | 547,000,000 | 276,000,000 | 663,000,000 | |
Total realized/unrealized gains/(losses) | 0 | 2,000,000 | 1,000,000 | 14,000,000 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | (50,000,000) | |
Settlements | (86,000,000) | (63,000,000) | (216,000,000) | (141,000,000) | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 61,000,000 | 486,000,000 | 61,000,000 | 486,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 2,000,000 | 1,000,000 | 12,000,000 | |
Other | |||||
Assets: | |||||
Fair value, beginning balance | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |
Total realized/unrealized gains/(losses) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 0 | 0 | 0 | 0 | |
Loans | |||||
Assets: | |||||
Fair value, beginning balance | 159,000,000 | 305,000,000 | 276,000,000 | 570,000,000 | |
Total realized/unrealized gains/(losses) | (1,000,000) | 8,000,000 | (5,000,000) | 32,000,000 | |
Purchases | 1,000,000 | 0 | 123,000,000 | 0 | |
Sales | 0 | (26,000,000) | 0 | (26,000,000) | |
Settlements | (19,000,000) | (10,000,000) | (180,000,000) | (299,000,000) | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | (74,000,000) | 0 | |
Fair value, ending balance | 140,000,000 | 277,000,000 | 140,000,000 | 277,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | (1,000,000) | 8,000,000 | (5,000,000) | 8,000,000 | |
Mortgage servicing rights | |||||
Assets: | |||||
Fair value, beginning balance | 6,241,000,000 | 5,753,000,000 | 6,030,000,000 | 6,096,000,000 | |
Total realized/unrealized gains/(losses) | 98,000,000 | (66,000,000) | 576,000,000 | (223,000,000) | |
Purchases | 291,000,000 | 253,000,000 | 770,000,000 | 624,000,000 | |
Sales | (2,000,000) | (2,000,000) | (401,000,000) | (140,000,000) | |
Settlements | (195,000,000) | (200,000,000) | (542,000,000) | (619,000,000) | |
Transfers into level 3 | 0 | 0 | 0 | 0 | |
Transfers (out of) level 3 | 0 | 0 | 0 | 0 | |
Fair value, ending balance | 6,433,000,000 | 5,738,000,000 | 6,433,000,000 | 5,738,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | 98,000,000 | (66,000,000) | 576,000,000 | (224,000,000) | |
Other assets | |||||
Assets: | |||||
Fair value, beginning balance | 1,225,000,000 | 1,934,000,000 | 1,265,000,000 | 2,223,000,000 | |
Total realized/unrealized gains/(losses) | (160,000,000) | 18,000,000 | (210,000,000) | 248,000,000 | |
Purchases | 2,000,000 | 3,000,000 | 49,000,000 | 35,000,000 | |
Sales | 0 | (2,000,000) | (16,000,000) | (157,000,000) | |
Settlements | (7,000,000) | (82,000,000) | (28,000,000) | (478,000,000) | |
Transfers into level 3 | 3,000,000 | 0 | 4,000,000 | 0 | |
Transfers (out of) level 3 | 0 | 0 | (1,000,000) | 0 | |
Fair value, ending balance | 1,063,000,000 | 1,871,000,000 | 1,063,000,000 | 1,871,000,000 | |
Change in unrealized gains/(losses) related to financial instruments held | $ (160,000,000) | $ 16,000,000 | $ (217,000,000) | $ 126,000,000 |
Fair Value Measurement - Leve_2
Fair Value Measurement - Level 3 Analysis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Percentage of level 3 assets in total Firm assets | 0.80% | 0.80% | |||
Total realized/unrealized gains/(losses) | $ 385 | $ 45 | $ 1,935 | $ 132 | |
Recurring | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 657,743 | 657,743 | $ 625,737 | ||
Recurring | Level 3 | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Assets fair value | 19,031 | 19,031 | $ 19,216 | ||
Decrease in level 3 assets | 272 | 185 | |||
Recurring | Level 3 | Liabilities | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | 100 | (387) | 722 | (1,000) | |
Recurring | Level 3 | Assets | |||||
Level 3 Analysis - Supplemental Data [Abstract] | |||||
Total realized/unrealized gains/(losses) | $ 394 | $ 186 | $ 2,100 | $ 692 |
Fair Value Measurement - Impact
Fair Value Measurement - Impact of Credit Adjustments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Credit and funding adjustments: | ||||
Derivatives CVA | $ 66 | $ 245 | $ 223 | $ 715 |
Derivatives FVA | $ 88 | $ (222) | $ 102 | $ (289) |
Fair Value Measurement - Nonrec
Fair Value Measurement - Nonrecurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity securities without readily determinable fair values | $ 1,801 | $ 1,801 | ||
Fair value losses as a result of measurement alternative | 127 | 156 | ||
Fair value gains as a result of measurement alternative | 14 | $ 540 | ||
Residential mortgage | Broker price opinions | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 13.00% | |||
Residential mortgage | Broker price opinions | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 40.00% | |||
Residential mortgage | Broker price opinions | Weighted average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value inputs, liquidation value discount | 22.00% | |||
Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 1,777 | $ 1,132 | $ 1,777 | $ 1,132 |
Total nonrecurring fair value gains/(losses) | (139) | (63) | 347 | (202) |
Nonrecurring | Accounts payable and other liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | (1) |
Nonrecurring | Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 735 | 880 | 735 | 880 |
Total nonrecurring fair value gains/(losses) | (22) | (52) | (36) | (157) |
Nonrecurring | Other assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 1,042 | 252 | 1,042 | 252 |
Total nonrecurring fair value gains/(losses) | (117) | (11) | 383 | (44) |
Fair value losses as a result of measurement alternative | (113) | |||
Fair value gains as a result of measurement alternative | 384 | |||
Nonrecurring | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 0 | 0 | 0 | 0 |
Nonrecurring | Level 1 | Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 0 | 0 | 0 | 0 |
Nonrecurring | Level 1 | Other assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 0 | 0 | 0 | 0 |
Nonrecurring | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 708 | 345 | 708 | 345 |
Nonrecurring | Level 2 | Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 492 | 338 | 492 | 338 |
Nonrecurring | Level 2 | Other assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 216 | 7 | 216 | 7 |
Nonrecurring | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 1,069 | 787 | 1,069 | 787 |
Nonrecurring | Level 3 | Loans | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 243 | 542 | 243 | 542 |
Nonrecurring | Level 3 | Other assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | 826 | $ 245 | 826 | $ 245 |
Equity securities without readily determinable fair values | 724 | 724 | ||
Nonrecurring | Level 3 | Residential mortgage | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value on a nonrecurring basis | $ 200 | $ 200 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Financial assets | ||
Cash and due from banks | $ 23,225 | $ 25,898 |
Deposits with banks | 395,872 | 405,406 |
Federal funds sold and securities purchased under resale agreements | 217,632 | 198,422 |
Securities, held-to-maturity | 30,918 | 48,652 |
Loans, net of allowance for loan losses | 2,987 | 2,508 |
Financial liabilities | ||
Beneficial interests issued by consolidated VIEs | 20,241 | 26,081 |
Carrying value | ||
Financial assets | ||
Cash and due from banks | 23,200 | 25,900 |
Deposits with banks | 395,900 | 405,400 |
Accrued interest and accounts receivable | 77,700 | 67,000 |
Federal funds sold and securities purchased under resale agreements | 205,400 | 183,700 |
Securities borrowed | 117,900 | 102,100 |
Securities, held-to-maturity | 31,400 | 47,700 |
Loans, net of allowance for loan losses | 938,200 | 914,600 |
Other | 55,000 | 53,900 |
Financial liabilities | ||
Deposits | 1,438,300 | 1,422,700 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 180,500 | 158,200 |
Short-term borrowings | 56,700 | 42,600 |
Accounts payable and other liabilities | 173,400 | 152,000 |
Beneficial interests issued by consolidated VIEs | 20,200 | 26,000 |
Long-term debt and junior subordinated deferrable interest debentures | 216,000 | 236,600 |
Wholesale lending-related commitments | 1,100 | 1,100 |
Total estimated fair value | ||
Financial assets | ||
Cash and due from banks | 23,200 | 25,900 |
Deposits with banks | 395,900 | 405,400 |
Accrued interest and accounts receivable | 77,700 | 67,000 |
Federal funds sold and securities purchased under resale agreements | 205,400 | 183,700 |
Securities borrowed | 117,900 | 102,100 |
Securities, held-to-maturity | 30,900 | 48,700 |
Loans, net of allowance for loan losses | 937,300 | 920,300 |
Other | 55,100 | 61,300 |
Financial liabilities | ||
Deposits | 1,438,400 | 1,422,700 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 180,500 | 158,200 |
Short-term borrowings | 56,700 | 42,600 |
Accounts payable and other liabilities | 173,100 | 151,800 |
Beneficial interests issued by consolidated VIEs | 20,200 | 26,000 |
Long-term debt and junior subordinated deferrable interest debentures | 220,800 | 243,500 |
Wholesale lending-related commitments | 1,500 | 1,600 |
Total estimated fair value | Level 1 | ||
Financial assets | ||
Cash and due from banks | 23,200 | 25,900 |
Deposits with banks | 392,200 | 401,800 |
Accrued interest and accounts receivable | 0 | 0 |
Federal funds sold and securities purchased under resale agreements | 0 | 0 |
Securities borrowed | 0 | 0 |
Securities, held-to-maturity | 0 | 0 |
Loans, net of allowance for loan losses | 0 | 0 |
Other | 0 | 0 |
Financial liabilities | ||
Deposits | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 |
Short-term borrowings | 0 | 0 |
Accounts payable and other liabilities | 0 | 0 |
Beneficial interests issued by consolidated VIEs | 0 | 0 |
Long-term debt and junior subordinated deferrable interest debentures | 0 | 0 |
Wholesale lending-related commitments | 0 | 0 |
Total estimated fair value | Level 2 | ||
Financial assets | ||
Cash and due from banks | 0 | 0 |
Deposits with banks | 3,700 | 3,600 |
Accrued interest and accounts receivable | 77,600 | 67,000 |
Federal funds sold and securities purchased under resale agreements | 205,400 | 183,700 |
Securities borrowed | 117,900 | 102,100 |
Securities, held-to-maturity | 30,900 | 48,700 |
Loans, net of allowance for loan losses | 227,300 | 213,200 |
Other | 54,100 | 52,100 |
Financial liabilities | ||
Deposits | 1,438,400 | 1,422,700 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 180,500 | 158,200 |
Short-term borrowings | 56,700 | 42,400 |
Accounts payable and other liabilities | 170,000 | 148,900 |
Beneficial interests issued by consolidated VIEs | 20,200 | 26,000 |
Long-term debt and junior subordinated deferrable interest debentures | 217,500 | 240,300 |
Wholesale lending-related commitments | 0 | 0 |
Total estimated fair value | Level 3 | ||
Financial assets | ||
Cash and due from banks | 0 | 0 |
Deposits with banks | 0 | 0 |
Accrued interest and accounts receivable | 100 | 0 |
Federal funds sold and securities purchased under resale agreements | 0 | 0 |
Securities borrowed | 0 | 0 |
Securities, held-to-maturity | 0 | 0 |
Loans, net of allowance for loan losses | 710,000 | 707,100 |
Other | 1,000 | 9,200 |
Financial liabilities | ||
Deposits | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 0 | 0 |
Short-term borrowings | 0 | 200 |
Accounts payable and other liabilities | 3,100 | 2,900 |
Beneficial interests issued by consolidated VIEs | 0 | 0 |
Long-term debt and junior subordinated deferrable interest debentures | 3,300 | 3,200 |
Wholesale lending-related commitments | $ 1,500 | $ 1,600 |
Fair Value Measurement - Equity
Fair Value Measurement - Equity Securities Without Readily Determinable Fair Value (Details) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018USD ($)shares | Sep. 30, 2018USD ($)shares | |
Fair Value Disclosures [Abstract] | ||
Carrying value | $ 1,801 | $ 1,801 |
Upward carrying value changes | 14 | 540 |
Downward carrying value changes/impairment | $ (127) | $ (156) |
Common stock | Class B | VISA | ||
Investment Holdings [Line Items] | ||
Interest owned, included in other assets (in shares) | shares | 40 | 40 |
Conversion rate | 1.6298 | 1.6298 |
Fair Value Option - Changes in
Fair Value Option - Changes in Fair Value Under the Fair Value Option (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Federal funds sold and securities purchased under resale agreements | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | $ (23) | $ (17) | $ (49) | $ (50) |
Federal funds sold and securities purchased under resale agreements | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (23) | (17) | (49) | (50) |
Federal funds sold and securities purchased under resale agreements | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Securities borrowed | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (24) | (10) | (22) | 80 |
Securities borrowed | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (24) | (10) | (22) | 80 |
Securities borrowed | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Debt and equity instruments, excluding loans | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (40) | 412 | (484) | 1,109 |
Debt and equity instruments, excluding loans | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (45) | 412 | (490) | 1,107 |
Debt and equity instruments, excluding loans | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 5 | 0 | 6 | 2 |
Loans reported as trading assets: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 123 | 137 | 463 | 395 |
Loans reported as trading assets: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 122 | 139 | 458 | 382 |
Loans reported as trading assets: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 1 | (2) | 5 | 13 |
Loans reported as trading assets: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 43 | 360 | 88 | 789 |
Loans reported as trading assets: Other changes in fair value | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (6) | 111 | 64 | 188 |
Loans reported as trading assets: Other changes in fair value | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 49 | 249 | 24 | 601 |
Loans: Changes in instrument-specific credit risk | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (1) | 0 | (2) | (1) |
Loans: Changes in instrument-specific credit risk | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (1) | 0 | (2) | (1) |
Loans: Changes in instrument-specific credit risk | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Loans: Other changes in fair value | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 1 | 3 | (1) | 7 |
Loans: Other changes in fair value | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 1 | 3 | (1) | 4 |
Loans: Other changes in fair value | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 3 | |
Other assets | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 18 | (1) | 10 | (16) |
Other assets | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 2 | 3 | 4 | 10 |
Other assets | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 16 | (4) | 6 | (26) |
Deposits | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 32 | (117) | 371 | (362) |
Deposits | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 32 | (117) | 371 | (362) |
Deposits | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Federal funds purchased and securities loaned or sold under repurchase agreements | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 8 | 2 | 27 | 4 |
Federal funds purchased and securities loaned or sold under repurchase agreements | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 8 | 2 | 27 | 4 |
Federal funds purchased and securities loaned or sold under repurchase agreements | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Short-term borrowings | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (25) | (54) | ||
Short-term borrowings | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | (25) | (54) | ||
Short-term borrowings | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | ||
Other borrowed funds | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 86 | (485) | ||
Other borrowed funds | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 86 | (485) | ||
Other borrowed funds | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | ||
Trading liabilities | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 2 | (3) | 1 | (4) |
Trading liabilities | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 2 | (3) | 1 | (4) |
Trading liabilities | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 0 | 0 | 0 | 0 |
Long-term debt | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 259 | (793) | 1,486 | (1,716) |
Long-term debt | Principal transactions | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | 259 | (793) | 1,486 | (1,716) |
Long-term debt | All other income | ||||
Changes in fair value under the fair value option election | ||||
Total nonrecurring fair value gains/(losses) | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Option - Aggregate D
Fair Value Option - Aggregate Differences (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Long-term beneficial interests | ||
Performing loans, ninety days or more past due | $ 0 | $ 0 |
Lending-related commitments, fair value option elected | ||
Long-term beneficial interests | ||
Contractual amount of lending-related commitments | 9,100,000,000 | 7,400,000,000 |
Contractual lending-related commitments, fair value | (53,000,000) | (76,000,000) |
Contractual principal outstanding | ||
Loans | ||
Nonaccrual loans | 4,171,000,000 | 4,258,000,000 |
Total loans | 49,196,000,000 | 44,954,000,000 |
Contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Total long-term debt | 31,858,000,000 | 26,297,000,000 |
Contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 4,171,000,000 | 4,219,000,000 |
All other performing loans | 41,986,000,000 | 38,157,000,000 |
Contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans | 0 | 39,000,000 |
All other performing loans | 3,039,000,000 | 2,539,000,000 |
Fair value | ||
Loans | ||
Nonaccrual loans | 1,189,000,000 | 1,371,000,000 |
Total loans | 44,571,000,000 | 40,469,000,000 |
Long-term debt | ||
Total long-term debt | 54,112,000,000 | 47,519,000,000 |
Long-term beneficial interests | ||
Total long-term beneficial interests | 17,000,000 | 45,000,000 |
Fair value | Principal-protected debt | ||
Long-term debt | ||
Total long-term debt | 27,518,000,000 | 23,848,000,000 |
Fair value | Nonprincipal-protected debt | ||
Long-term debt | ||
Total long-term debt | 26,594,000,000 | 23,671,000,000 |
Long-term beneficial interests | ||
Total long-term beneficial interests | 17,000,000 | 45,000,000 |
Fair value | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans | 1,189,000,000 | 1,371,000,000 |
All other performing loans | 40,395,000,000 | 36,590,000,000 |
Fair value | Loans | ||
Loans | ||
Nonaccrual loans | 0 | 0 |
All other performing loans | 2,987,000,000 | 2,508,000,000 |
Fair value over/(under) contractual principal outstanding | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | (2,982,000,000) | (2,887,000,000) |
Total loans | (4,625,000,000) | (4,485,000,000) |
Fair value over/(under) contractual principal outstanding | Principal-protected debt | ||
Long-term debt | ||
Long-term debt, Fair value over/(under) contractual principal outstanding | (4,340,000,000) | (2,449,000,000) |
Fair value over/(under) contractual principal outstanding | Loans reported as trading assets | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | (2,982,000,000) | (2,848,000,000) |
All other performing loans | (1,591,000,000) | (1,567,000,000) |
Fair value over/(under) contractual principal outstanding | Loans | ||
Loans | ||
Nonaccrual loans, Fair value over/(under) contractual principal outstanding | 0 | (39,000,000) |
All other performing loans | $ (52,000,000) | $ (31,000,000) |
Fair Value Option - Structured
Fair Value Option - Structured Note Products by Balance Sheet Classification and Risk Component (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | $ 78,150 | $ 74,798 |
Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 33,218 | 30,183 |
Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 4,254 | 5,641 |
Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 3,063 | 3,026 |
Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 35,538 | 31,235 |
Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 2,077 | 4,713 |
Long-term debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 52,339 | 47,037 |
Long-term debt | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 23,333 | 22,056 |
Long-term debt | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 3,771 | 4,329 |
Long-term debt | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 2,930 | 2,841 |
Long-term debt | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 21,950 | 17,581 |
Long-term debt | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 355 | 230 |
Short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 7,460 | 8,649 |
Short-term borrowings | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 616 | 69 |
Short-term borrowings | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 483 | 1,312 |
Short-term borrowings | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 96 | 147 |
Short-term borrowings | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 6,258 | 7,106 |
Short-term borrowings | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 7 | 15 |
Deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 18,351 | 19,112 |
Deposits | Interest rate | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 9,269 | 8,058 |
Deposits | Credit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 0 | 0 |
Deposits | Foreign exchange | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 37 | 38 |
Deposits | Equity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | 7,330 | 6,548 |
Deposits | Commodity | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total structured notes | $ 1,715 | $ 4,468 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amount of Derivative Contracts (Details) - USD ($) $ in Billions | Sep. 30, 2018 | Dec. 31, 2017 |
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 58,980 | $ 48,386 |
Interest rate contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 42,513 | 33,510 |
Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 25,236 | 21,043 |
Futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 7,326 | 4,904 |
Options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 4,718 | 3,576 |
Options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 5,233 | 3,987 |
Credit derivatives | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 1,603 | 1,522 |
Foreign exchange contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 12,622 | 11,438 |
Cross-currency swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 3,893 | 3,953 |
Spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 6,812 | 5,923 |
Options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 961 | 786 |
Options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 956 | 776 |
Equity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 1,647 | 1,441 |
Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 402 | 367 |
Futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 106 | 90 |
Options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 596 | 531 |
Options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 543 | 453 |
Commodity contracts | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 595 | 475 |
Swaps | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 140 | 116 |
Spot, futures and forwards | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 164 | 168 |
Options | Written options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | 157 | 98 |
Options | Purchased options | ||
Notional amount of derivative contracts outstanding [Abstract] | ||
Derivative notional amounts | $ 134 | $ 93 |
Derivative Instruments - Impact
Derivative Instruments - Impact on Balance Sheet (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | $ 543,148 | $ 559,553 |
Net derivative receivables | 60,062 | 56,523 |
Gross derivative payables | 509,406 | 530,806 |
Net derivative payables | 41,693 | 37,777 |
Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 261,459 | 315,992 |
Net derivative receivables | 23,397 | 24,673 |
Gross derivative payables | 234,233 | 284,436 |
Net derivative payables | 7,091 | 7,129 |
Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 23,505 | 23,205 |
Net derivative receivables | 582 | 869 |
Gross derivative payables | 23,360 | 23,252 |
Net derivative payables | 1,452 | 1,299 |
Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 188,884 | 160,231 |
Net derivative receivables | 17,043 | 16,151 |
Gross derivative payables | 177,619 | 155,822 |
Net derivative payables | 12,402 | 12,473 |
Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 46,932 | 40,040 |
Net derivative receivables | 10,104 | 7,882 |
Gross derivative payables | 51,355 | 45,395 |
Net derivative payables | 11,978 | 9,192 |
Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 22,368 | 20,085 |
Net derivative receivables | 8,936 | 6,948 |
Gross derivative payables | 22,839 | 21,901 |
Net derivative payables | 8,770 | 7,684 |
Not designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 541,509 | 558,013 |
Gross derivative payables | 508,467 | 529,179 |
Not designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 260,636 | 314,962 |
Gross derivative payables | 234,232 | 284,433 |
Not designated as hedges | Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 23,505 | 23,205 |
Gross derivative payables | 23,360 | 23,252 |
Not designated as hedges | Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 188,261 | 159,740 |
Gross derivative payables | 176,771 | 154,601 |
Not designated as hedges | Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 46,932 | 40,040 |
Gross derivative payables | 51,355 | 45,395 |
Not designated as hedges | Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 22,175 | 20,066 |
Gross derivative payables | 22,749 | 21,498 |
Designated as hedges | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 1,639 | 1,540 |
Gross derivative payables | 939 | 1,627 |
Designated as hedges | Interest rate | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 823 | 1,030 |
Gross derivative payables | 1 | 3 |
Designated as hedges | Credit | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Foreign exchange | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 623 | 491 |
Gross derivative payables | 848 | 1,221 |
Designated as hedges | Equity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 0 | 0 |
Gross derivative payables | 0 | 0 |
Designated as hedges | Commodity | ||
Derivatives, Fair Value [Line Items] | ||
Gross derivative receivables | 193 | 19 |
Gross derivative payables | $ 90 | $ 403 |
Derivative Instruments - Deriva
Derivative Instruments - Derivatives Netting (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | $ 530,121 | $ 547,995 |
Amounts netted on the Consolidated balance sheets | (483,086) | (503,030) |
Net derivative receivables | 47,035 | 44,965 |
Derivative receivables where an appropriate legal opinion has not been either sought or obtained | 13,027 | 11,558 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 543,148 | 559,553 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 60,062 | 56,523 |
Collateral not nettable on the Consolidated balance sheets | (13,826) | (13,363) |
Net amounts | 46,236 | 43,160 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 497,126 | 521,133 |
Amounts netted on the Consolidated balance sheets | (467,713) | (493,029) |
Net derivative payables | 29,413 | 28,104 |
Derivative payables where an appropriate legal opinion has not been either sought or obtained | 12,280 | 9,673 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 509,406 | 530,806 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 41,693 | 37,777 |
Collateral not nettable on the Consolidated balance sheets | (3,566) | (4,180) |
Net amounts | 38,127 | 33,597 |
Net cash collateral receivables | 55,500 | 55,500 |
Net cash collateral payables | 40,100 | 45,500 |
Interest rate contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 257,993 | 312,285 |
Amounts netted on the Consolidated balance sheets | (238,062) | (291,319) |
Net derivative receivables | 19,931 | 20,966 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 261,459 | 315,992 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 23,397 | 24,673 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 232,821 | 283,091 |
Amounts netted on the Consolidated balance sheets | (227,142) | (277,306) |
Net derivative payables | 5,679 | 5,785 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 234,233 | 284,436 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 7,091 | 7,129 |
Interest rate contracts | Over-the-counter (“OTC”) | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 250,181 | 305,569 |
Amounts netted on the Consolidated balance sheets | (230,533) | (284,917) |
Net derivative receivables | 19,648 | 20,652 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 225,999 | 276,960 |
Amounts netted on the Consolidated balance sheets | (220,369) | (271,294) |
Net derivative payables | 5,630 | 5,666 |
Interest rate contracts | OTC–cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 7,512 | 6,531 |
Amounts netted on the Consolidated balance sheets | (7,374) | (6,318) |
Net derivative receivables | 138 | 213 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 6,650 | 6,004 |
Amounts netted on the Consolidated balance sheets | (6,618) | (5,928) |
Net derivative payables | 32 | 76 |
Interest rate contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 300 | 185 |
Amounts netted on the Consolidated balance sheets | (155) | (84) |
Net derivative receivables | 145 | 101 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 172 | 127 |
Amounts netted on the Consolidated balance sheets | (155) | (84) |
Net derivative payables | 17 | 43 |
Net credit derivatives | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 23,308 | 22,615 |
Amounts netted on the Consolidated balance sheets | (22,923) | (22,335) |
Net derivative receivables | 385 | 280 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 23,505 | 23,205 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 582 | 869 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 23,195 | 22,995 |
Amounts netted on the Consolidated balance sheets | (21,908) | (21,954) |
Net derivative payables | 1,287 | 1,041 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 23,360 | 23,252 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 1,452 | 1,299 |
Net credit derivatives | Over-the-counter (“OTC”) | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 12,502 | 15,390 |
Amounts netted on the Consolidated balance sheets | (12,153) | (15,165) |
Net derivative receivables | 349 | 225 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 13,133 | 16,194 |
Amounts netted on the Consolidated balance sheets | (11,852) | (15,170) |
Net derivative payables | 1,281 | 1,024 |
Net credit derivatives | OTC–cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 10,806 | 7,225 |
Amounts netted on the Consolidated balance sheets | (10,770) | (7,170) |
Net derivative receivables | 36 | 55 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 10,062 | 6,801 |
Amounts netted on the Consolidated balance sheets | (10,056) | (6,784) |
Net derivative payables | 6 | 17 |
Foreign exchange contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 185,139 | 157,126 |
Amounts netted on the Consolidated balance sheets | (171,841) | (144,081) |
Net derivative receivables | 13,298 | 13,045 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 188,884 | 160,231 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 17,043 | 16,151 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 174,093 | 152,619 |
Amounts netted on the Consolidated balance sheets | (165,217) | (143,349) |
Net derivative payables | 8,876 | 9,270 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 177,619 | 155,822 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 12,402 | 12,473 |
Foreign exchange contracts | Over-the-counter (“OTC”) | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 184,421 | 155,289 |
Amounts netted on the Consolidated balance sheets | (171,163) | (142,420) |
Net derivative receivables | 13,258 | 12,869 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 173,389 | 150,966 |
Amounts netted on the Consolidated balance sheets | (164,557) | (141,789) |
Net derivative payables | 8,832 | 9,177 |
Foreign exchange contracts | OTC–cleared | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 676 | 1,696 |
Amounts netted on the Consolidated balance sheets | (659) | (1,654) |
Net derivative receivables | 17 | 42 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 679 | 1,555 |
Amounts netted on the Consolidated balance sheets | (654) | (1,553) |
Net derivative payables | 25 | 2 |
Foreign exchange contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 42 | 141 |
Amounts netted on the Consolidated balance sheets | (19) | (7) |
Net derivative receivables | 23 | 134 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 25 | 98 |
Amounts netted on the Consolidated balance sheets | (6) | (7) |
Net derivative payables | 19 | 91 |
Equity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 41,986 | 36,212 |
Amounts netted on the Consolidated balance sheets | (36,828) | (32,158) |
Net derivative receivables | 5,158 | 4,054 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 46,932 | 40,040 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 10,104 | 7,882 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 44,852 | 40,913 |
Amounts netted on the Consolidated balance sheets | (39,377) | (36,203) |
Net derivative payables | 5,475 | 4,710 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 51,355 | 45,395 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 11,978 | 9,192 |
Equity contracts | Over-the-counter (“OTC”) | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 25,197 | 22,024 |
Amounts netted on the Consolidated balance sheets | (22,380) | (19,917) |
Net derivative receivables | 2,817 | 2,107 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 28,618 | 28,193 |
Amounts netted on the Consolidated balance sheets | (24,869) | (23,969) |
Net derivative payables | 3,749 | 4,224 |
Equity contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 16,789 | 14,188 |
Amounts netted on the Consolidated balance sheets | (14,448) | (12,241) |
Net derivative receivables | 2,341 | 1,947 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 16,234 | 12,720 |
Amounts netted on the Consolidated balance sheets | (14,508) | (12,234) |
Net derivative payables | 1,726 | 486 |
Commodity contracts | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 21,695 | 19,757 |
Amounts netted on the Consolidated balance sheets | (13,432) | (13,137) |
Net derivative receivables | 8,263 | 6,620 |
Total derivative receivables recognized on the Consolidated balance sheets, Gross derivative receivables | 22,368 | 20,085 |
Total derivative receivables recognized on the Consolidated balance sheets, Net derivative receivables | 8,936 | 6,948 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 22,165 | 21,515 |
Amounts netted on the Consolidated balance sheets | (14,069) | (14,217) |
Net derivative payables | 8,096 | 7,298 |
Total derivative payables recognized on the Consolidated balance sheets, Gross derivative payables | 22,839 | 21,901 |
Total derivative payables recognized on the Consolidated balance sheets, Net derivative payables | 8,770 | 7,684 |
Commodity contracts | Over-the-counter (“OTC”) | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 12,497 | 10,903 |
Amounts netted on the Consolidated balance sheets | (4,916) | (4,436) |
Net derivative receivables | 7,581 | 6,467 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 13,607 | 12,645 |
Amounts netted on the Consolidated balance sheets | (5,600) | (5,508) |
Net derivative payables | 8,007 | 7,137 |
Commodity contracts | Exchange-traded | ||
Gross and Net Derivative Receivables by Contract and Settlement Type: | ||
Gross derivative receivables | 9,198 | 8,854 |
Amounts netted on the Consolidated balance sheets | (8,516) | (8,701) |
Net derivative receivables | 682 | 153 |
Gross and Net Derivative Payables by Contract and Settlement Type: | ||
Gross derivative payables | 8,558 | 8,870 |
Amounts netted on the Consolidated balance sheets | (8,469) | (8,709) |
Net derivative payables | $ 89 | $ 161 |
Derivative Instruments - Liquid
Derivative Instruments - Liquidity Risk and Credit-Related Contingent Features (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Aggregate fair value of net derivative payables | $ 10,103,000,000 | $ 11,916,000,000 |
Collateral posted | 8,926,000,000 | 9,973,000,000 |
Amount of transfers accounted for as sale where associated derivative was outstanding | 0 | |
Single-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 116,000,000 | 79,000,000 |
Amount required to settle contracts with termination triggers upon downgrade | 317,000,000 | 320,000,000 |
Two-notch downgrade | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Amount of additional collateral to be posted upon downgrade | 2,046,000,000 | 1,989,000,000 |
Amount required to settle contracts with termination triggers upon downgrade | $ 861,000,000 | $ 650,000,000 |
Derivative Instruments - Impa_2
Derivative Instruments - Impact on Statements of Income, Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Gains/(losses) recorded in income | ||||
Derivatives | $ (139) | $ (1,417) | $ (1,301) | $ (4,208) |
Hedged items | 406 | 1,645 | 2,136 | 4,855 |
Income statement impact | 267 | 228 | 835 | 647 |
Income statement impact of excluded components: | ||||
Amortization approach | (137) | (404) | ||
Changes in fair value | 267 | 833 | ||
Income statement impact due to: | ||||
Hedge ineffectiveness | 2 | 7 | ||
Excluded components | 226 | 640 | ||
OCI impact | ||||
Derivatives - Gains/(losses) recorded in OCI | 45 | (96) | ||
Interest rate | ||||
Gains/(losses) recorded in income | ||||
Derivatives | (870) | 22 | (2,747) | (131) |
Hedged items | 1,032 | 182 | 3,214 | 759 |
Income statement impact | 162 | 204 | 467 | 628 |
Income statement impact of excluded components: | ||||
Amortization approach | 0 | 0 | ||
Changes in fair value | 160 | 459 | ||
Income statement impact due to: | ||||
Hedge ineffectiveness | (2) | (16) | ||
Excluded components | 206 | 644 | ||
OCI impact | ||||
Derivatives - Gains/(losses) recorded in OCI | 0 | 0 | ||
Foreign exchange | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 277 | (982) | 797 | (3,254) |
Hedged items | (165) | 1,002 | (452) | 3,235 |
Income statement impact | 112 | 20 | 345 | (19) |
Income statement impact of excluded components: | ||||
Amortization approach | (137) | (404) | ||
Changes in fair value | 112 | 345 | ||
Income statement impact due to: | ||||
Hedge ineffectiveness | 0 | 0 | ||
Excluded components | 20 | (19) | ||
OCI impact | ||||
Derivatives - Gains/(losses) recorded in OCI | 45 | (96) | ||
Commodity | ||||
Gains/(losses) recorded in income | ||||
Derivatives | 454 | (457) | 649 | (823) |
Hedged items | (461) | 461 | (626) | 861 |
Income statement impact | (7) | 4 | 23 | 38 |
Income statement impact of excluded components: | ||||
Amortization approach | 0 | 0 | ||
Changes in fair value | (5) | 29 | ||
Income statement impact due to: | ||||
Hedge ineffectiveness | 4 | 23 | ||
Excluded components | $ 0 | $ 15 | ||
OCI impact | ||||
Derivatives - Gains/(losses) recorded in OCI | $ 0 | $ 0 |
Derivative Instruments - Cumula
Derivative Instruments - Cumulative Fair Value Hedging Adjustments (Details) $ in Millions | Sep. 30, 2018USD ($) |
Commodity contracts | |
Assets | |
Carrying amount of the hedged items | $ 4,600 |
Long-term debt | |
Liabilities | |
Carrying amount of the hedged items | 135,239 |
Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged items: | |
Active hedging relationships | (2,693) |
Discontinued hedging relationships | (5) |
Total | (2,698) |
Long-term debt | Not designated as hedges | |
Liabilities | |
Carrying amount of the hedged items | 7,200 |
Beneficial interests issued by consolidated VIEs | |
Liabilities | |
Carrying amount of the hedged items | 6,976 |
Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged items: | |
Active hedging relationships | 0 |
Discontinued hedging relationships | (42) |
Total | (42) |
Investment securities - AFS | |
Assets | |
Carrying amount of the hedged items | 47,896 |
Cumulative amount of fair value hedging adjustments included in the carrying amount of hedged items: | |
Active hedging relationships | (2,292) |
Discontinued hedging relationships | 438 |
Total | (1,854) |
Investment securities - AFS | Not designated as hedges | |
Assets | |
Carrying amount of the hedged items | $ 14,700 |
Derivative Instruments - Impa_3
Derivative Instruments - Impact on Statements of Income, Cash Flow Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) | ||||
Recognition of gain (loss) related to cash flow hedges in Income | $ (118) | |||
Maximum length of time hedged in forecasted transactions, terminated cash flow hedges | 6 years | |||
Maximum length of time hedged in forecasted transactions, open cash flow hedges | 6 years | |||
Cash Flow Hedging | ||||
Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) | ||||
Amounts reclassified from AOCI to income | $ (9) | $ (10) | $ 62 | $ (160) |
Amounts recorded in OCI | (122) | 29 | (365) | 111 |
Total change in OCI for period | (113) | 39 | (427) | 271 |
Cash Flow Hedging | Interest rate | ||||
Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) | ||||
Amounts reclassified from AOCI to income | 10 | 1 | 36 | (16) |
Amounts recorded in OCI | (30) | (1) | (141) | 11 |
Total change in OCI for period | (40) | (2) | (177) | 27 |
Cash Flow Hedging | Foreign exchange | ||||
Derivatives gains/(losses) recorded in income and other comprehensive income/(loss) | ||||
Amounts reclassified from AOCI to income | (19) | (11) | 26 | (144) |
Amounts recorded in OCI | (92) | 30 | (224) | 100 |
Total change in OCI for period | $ (73) | $ 41 | $ (250) | $ 244 |
Derivative Instruments - Impa_4
Derivative Instruments - Impact on Statements of Income, Net Investment Hedges (Details) - Net Investment Hedging - Foreign exchange - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Gains/(losses) recorded in income and other comprehensive income/(loss) | ||||
Amounts recorded in income | $ 2 | $ (39) | $ (5) | $ (150) |
Amounts recorded in OCI | $ 311 | $ (286) | $ 1,126 | $ (1,161) |
Derivative Instruments - Impa_5
Derivative Instruments - Impact on Statements of Income, Risk Management Derivatives (Details) - Risk Management Activities - Not designated as hedges - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 3 | $ 61 | $ (142) | $ 196 |
Interest rate | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | (42) | 97 | (277) | 318 |
Credit | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | (7) | (18) | (17) | (70) |
Foreign exchange | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax [Abstract] | ||||
Derivatives gains/(losses) recorded in income | $ 52 | $ (18) | $ 152 | $ (52) |
Derivative Instruments - Credit
Derivative Instruments - Credit Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Total credit derivatives and credit-related notes | ||
Protection sold | $ (785,141) | $ (744,399) |
Protection purchased with identical underlyings | 800,282 | 761,256 |
Net protection (sold)/purchased | 15,141 | 16,857 |
Other protection purchased | 25,557 | 24,707 |
Total credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (785,123) | (744,381) |
Protection purchased with identical underlyings | 800,282 | 761,256 |
Net protection (sold)/purchased | 15,159 | 16,875 |
Other protection purchased | 17,904 | 16,792 |
Credit default swaps | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (746,195) | (690,224) |
Protection purchased with identical underlyings | 754,889 | 702,098 |
Net protection (sold)/purchased | 8,694 | 11,874 |
Other protection purchased | 6,341 | 5,045 |
Other credit derivatives | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (38,928) | (54,157) |
Protection purchased with identical underlyings | 45,393 | 59,158 |
Net protection (sold)/purchased | 6,465 | 5,001 |
Other protection purchased | 11,563 | 11,747 |
Credit-related notes | ||
Total credit derivatives and credit-related notes | ||
Protection sold | (18) | (18) |
Protection purchased with identical underlyings | 0 | 0 |
Net protection (sold)/purchased | (18) | (18) |
Other protection purchased | $ 7,653 | $ 7,915 |
Derivative Instruments - Cred_2
Derivative Instruments - Credit Derivatives, Protection Sold, Notional and Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than 1 year | $ (170,033) | $ (232,680) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (511,587) | (453,851) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (103,521) | (57,868) |
Total notional amount | (785,141) | (744,399) |
Fair value of receivables | 16,380 | 15,923 |
Fair value of payables | (6,378) | (6,447) |
Net fair value | 10,002 | 9,476 |
Investment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than 1 year | (116,930) | (159,286) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (364,470) | (319,726) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (71,226) | (39,429) |
Total notional amount | (552,626) | (518,441) |
Fair value of receivables | 8,043 | 8,516 |
Fair value of payables | (1,859) | (1,134) |
Net fair value | 6,184 | 7,382 |
Noninvestment-grade | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile | ||
Protection sold credit derivatives and credit related notes ratings/maturity profile - less than 1 year | (53,103) | (73,394) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - from 1-5 years | (147,117) | (134,125) |
Protection sold credit derivatives and credit-related notes ratings/maturity profile - more than 5 years | (32,295) | (18,439) |
Total notional amount | (232,515) | (225,958) |
Fair value of receivables | 8,337 | 7,407 |
Fair value of payables | (4,519) | (5,313) |
Net fair value | $ 3,818 | $ 2,094 |
Noninterest Revenue and Nonin_3
Noninterest Revenue and Noninterest Expense - Investment Banking Fees (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | $ 1,253 | $ 1,247 | $ 3,938 | $ 3,978 |
Advisory | 579 | 621 | 1,798 | 1,616 |
Total investment banking fees | 1,832 | 1,868 | 5,736 | 5,594 |
Equity | ||||
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | 417 | 302 | 1,342 | 1,105 |
Debt | ||||
Schedule of Noninterest revenue [Line Items] | ||||
Underwriting | $ 836 | $ 945 | $ 2,596 | $ 2,873 |
Noninterest Revenue and Nonin_4
Noninterest Revenue and Noninterest Expense - Principal Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Principal transactions revenue | ||||
Total trading revenue | $ 3,117 | $ 2,731 | $ 10,896 | $ 9,297 |
Private equity gains/(losses) | (153) | (10) | (198) | 143 |
Principal transactions | 2,964 | 2,721 | 10,698 | 9,440 |
Corporate | ||||
Principal transactions revenue | ||||
Private equity gains/(losses) | (220) | |||
Corporate | Principal transactions revenue | ||||
Principal transactions revenue | ||||
Private equity gains/(losses) | (170) | |||
Corporate | Other income | ||||
Principal transactions revenue | ||||
Private equity gains/(losses) | (50) | |||
Interest rate | ||||
Principal transactions revenue | ||||
Total trading revenue | 338 | 649 | 1,784 | 2,032 |
Credit | ||||
Principal transactions revenue | ||||
Total trading revenue | 202 | 330 | 1,230 | 1,288 |
Foreign exchange | ||||
Principal transactions revenue | ||||
Total trading revenue | 937 | 681 | 2,706 | 2,363 |
Equity | ||||
Principal transactions revenue | ||||
Total trading revenue | 1,363 | 915 | 4,376 | 3,153 |
Commodity | ||||
Principal transactions revenue | ||||
Total trading revenue | $ 277 | $ 156 | $ 800 | $ 461 |
Noninterest Revenue and Nonin_5
Noninterest Revenue and Noninterest Expense - Lending and Deposit-Related Fees (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Noninterest Income (Expense) [Abstract] | ||||
Lending-related fees | $ 284 | $ 280 | $ 838 | $ 824 |
Deposit-related fees | 1,258 | 1,217 | 3,676 | 3,603 |
Total lending- and deposit-related fees | $ 1,542 | $ 1,497 | $ 4,514 | $ 4,427 |
Noninterest Revenue and Nonin_6
Noninterest Revenue and Noninterest Expense - Asset Management, Administration and Commissions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Asset management fees | ||||
Investment management fees | $ 2,716 | $ 2,636 | $ 8,081 | $ 7,603 |
All other asset management fees | 79 | 63 | 211 | 226 |
Total asset management fees | 2,795 | 2,699 | 8,292 | 7,829 |
Total administration fees | 533 | 514 | 1,651 | 1,500 |
Commission and other fees | ||||
Brokerage commissions | 604 | 546 | 1,887 | 1,691 |
All other commissions and fees | 378 | 313 | 1,093 | 976 |
Total commissions and fees | 982 | 859 | 2,980 | 2,667 |
Total asset management, administration and commissions | $ 4,310 | $ 4,072 | $ 12,923 | $ 11,996 |
Noninterest Revenue and Nonin_7
Noninterest Revenue and Noninterest Expense - Card Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Jun. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disaggregation of Revenue [Line Items] | |||||
Total card income | $ 1,328 | $ 1,242 | $ 3,623 | $ 3,323 | |
Interchange and merchant processing income | |||||
Disaggregation of Revenue [Line Items] | |||||
Total card income | 4,781 | 4,342 | 13,863 | 12,557 | |
Rewards costs and partner payments | |||||
Disaggregation of Revenue [Line Items] | |||||
Total card income | (3,276) | (2,727) | (9,687) | (7,941) | |
Adjustment to credit card rewards liability | $ 330 | ||||
Other card income | |||||
Disaggregation of Revenue [Line Items] | |||||
Total card income | $ (177) | $ (373) | $ (553) | $ (1,293) | |
Deferred revenues, recognition period | 12 months | 12 months |
Noninterest Revenue and Nonin_8
Noninterest Revenue and Noninterest Expense - Other Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Noninterest Income (Expense) [Abstract] | ||||
Operating lease income | $ 1,157 | $ 928 | $ 3,316 | $ 2,625 |
Noninterest Revenue and Nonin_9
Noninterest Revenue and Noninterest Expense - Components of Noninterest Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Noninterest Income (Expense) [Abstract] | ||||
Legal expense | $ 20 | $ (107) | $ 90 | $ 172 |
FDIC-related expense | $ 349 | $ 353 | $ 1,100 | $ 1,110 |
Interest Income and Interest _3
Interest Income and Interest Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest income | ||||
Loans | $ 12,207 | $ 10,519 | $ 34,915 | $ 30,265 |
Taxable securities | 1,402 | 1,362 | 4,098 | 4,202 |
Non-taxable securities | 394 | 456 | 1,199 | 1,393 |
Total investment securities | 1,796 | 1,818 | 5,297 | 5,595 |
Trading assets | 2,155 | 1,947 | 6,369 | 5,611 |
Federal funds sold and securities purchased under resale agreements | 952 | 622 | 2,490 | 1,676 |
Securities borrowed | 200 | 0 | 410 | (65) |
Deposits with banks | 1,585 | 1,259 | 4,449 | 3,002 |
All other interest-earning assets | 945 | 522 | 2,474 | 1,295 |
Total interest income | 19,840 | 16,687 | 56,404 | 47,379 |
Interest expense | ||||
Interest-bearing deposits | 1,621 | 837 | 4,021 | 1,949 |
Federal funds purchased and securities loaned or sold under repurchase agreements | 827 | 451 | 2,164 | 1,131 |
Short-term borrowings | 288 | 149 | 757 | 318 |
Trading liabilities – debt and all other interest-bearing liabilities | 1,018 | 570 | 2,579 | 1,490 |
Long-term debt | 2,056 | 1,759 | 5,812 | 5,035 |
Beneficial interest issued by consolidated VIEs | 122 | 123 | 366 | 386 |
Total interest expense | 5,932 | 3,889 | 15,699 | 10,309 |
Net interest income | 13,908 | 12,798 | 40,705 | 37,070 |
Provision for credit losses | 948 | 1,452 | 3,323 | 3,982 |
Net interest income after provision for credit losses | $ 12,960 | $ 11,346 | $ 37,382 | $ 33,088 |
Pension and Other Postretirem_3
Pension and Other Postretirement Employee Benefit Plans - Net Periodic Benefit Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Defined benefit pension plans | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | $ 88 | $ 83 | $ 267 | $ 247 |
Interest cost on benefit obligations | 139 | 148 | 417 | 447 |
Expected return on plan assets | (246) | (242) | (741) | (725) |
Amortization: | ||||
Net (gain)/loss | 26 | 63 | 78 | 187 |
Prior service cost/(credit) | (7) | (9) | (19) | (27) |
Settlement | 0 | 0 | 0 | (3) |
Net periodic defined benefit cost | 0 | 43 | 2 | 126 |
Other defined benefit pension plans | 6 | 6 | 21 | 16 |
Total defined benefit plans | 6 | 49 | 23 | 142 |
Total defined contribution plans | 229 | 221 | 661 | 617 |
Total pension and OPEB cost included in noninterest expense | 235 | 270 | 684 | 759 |
OPEB plans | ||||
Components of net periodic benefit cost | ||||
Benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost on benefit obligations | 6 | 7 | 18 | 21 |
Expected return on plan assets | (25) | (24) | (77) | (72) |
Amortization: | ||||
Net (gain)/loss | 0 | 0 | 0 | 0 |
Prior service cost/(credit) | 0 | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 | 0 |
Net periodic defined benefit cost | (19) | (17) | (59) | (51) |
Total defined benefit plans | (19) | (17) | (59) | (51) |
Total pension and OPEB cost included in noninterest expense | $ (19) | $ (17) | $ (59) | $ (51) |
Pension and Other Postretirem_4
Pension and Other Postretirement Employee Benefit Plans - Schedule of Fair Values of Plan Assets (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected contributions for 2018 | $ 0 | |
Defined benefit pension plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | 19,200,000,000 | $ 19,600,000,000 |
OPEB plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets | $ 2,800,000,000 | $ 2,800,000,000 |
Employee Share-based Incentiv_3
Employee Share-based Incentives - Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Cost of prior grants of RSUs, stock appreciation rights (“SARs”) and performance share units (“PSUs”) that are amortized over their applicable vesting periods | $ 282 | $ 267 | $ 956 | $ 867 |
Accrual of estimated costs of share-based awards to be granted in future periods including those to full-career eligible employees | 240 | 224 | 852 | 750 |
Total noncash compensation expense related to employee share-based incentive plans | $ 522 | $ 491 | $ 1,808 | $ 1,617 |
Employee Share-based Incentiv_4
Employee Share-based Incentives - Narrative (Details) shares in Thousands | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
RSUs | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants in period (in shares) | shares | 17,000 |
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares | $ 111.17 |
PSUs | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Grants in period (in shares) | shares | 516 |
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares | $ 110.46 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Billions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Hedge accounting | |
Debt Securities, Available-for-sale [Line Items] | |
HTM securities transferred to AFS, carrying value | $ 22.4 |
Investment Securities - Amortiz
Investment Securities - Amortized Costs and Estimated Fair Values (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities | ||
Amortized cost | $ 198,966 | $ 198,194 |
Gross unrealized gains | 3,222 | 3,961 |
Gross unrealized losses | 2,158 | 477 |
Fair value | 200,030 | 201,678 |
Available-for-sale equity securities | ||
Amortized cost | 547 | |
Gross unrealized gains | 0 | |
Gross unrealized losses | 0 | |
Fair value | 547 | |
Total available-for-sale securities | ||
Amortized cost | 198,741 | |
Gross unrealized gains | 3,961 | |
Gross unrealized losses | 477 | |
Fair value | 202,225 | |
Held-to-maturity securities | ||
Amortized cost | 31,368 | 47,733 |
Gross unrealized gains | 74 | 1,113 |
Gross unrealized losses | 524 | 194 |
Fair value | 30,918 | 48,652 |
Total investment securities | ||
Amortized cost | 230,334 | 246,474 |
Gross unrealized gains | 3,296 | 5,074 |
Gross unrealized losses | 2,682 | 671 |
Fair value | 230,948 | 250,877 |
Total mortgage-backed securities | ||
Available-for-sale securities | ||
Amortized cost | 80,415 | 85,886 |
Gross unrealized gains | 689 | 1,141 |
Gross unrealized losses | 1,729 | 355 |
Fair value | 79,375 | 86,672 |
Held-to-maturity securities | ||
Amortized cost | 26,537 | 33,360 |
Gross unrealized gains | 5 | 559 |
Gross unrealized losses | 493 | 114 |
Fair value | 26,049 | 33,805 |
U.S. government agencies | ||
Available-for-sale securities | ||
Amortized cost | 64,229 | 69,879 |
Gross unrealized gains | 389 | 736 |
Gross unrealized losses | 1,508 | 335 |
Fair value | 63,110 | 70,280 |
Held-to-maturity securities | ||
Amortized cost | 26,537 | 27,577 |
Gross unrealized gains | 5 | 558 |
Gross unrealized losses | 493 | 40 |
Fair value | 26,049 | 28,095 |
Residential: U.S. | ||
Available-for-sale securities | ||
Amortized cost | 6,396 | 8,193 |
Gross unrealized gains | 127 | 185 |
Gross unrealized losses | 36 | 14 |
Fair value | 6,487 | 8,364 |
Residential: Non-U.S. | ||
Available-for-sale securities | ||
Amortized cost | 2,639 | 2,882 |
Gross unrealized gains | 94 | 122 |
Gross unrealized losses | 3 | 1 |
Fair value | 2,730 | 3,003 |
Commercial | ||
Available-for-sale securities | ||
Amortized cost | 7,151 | 4,932 |
Gross unrealized gains | 79 | 98 |
Gross unrealized losses | 182 | 5 |
Fair value | 7,048 | 5,025 |
Held-to-maturity securities | ||
Amortized cost | 0 | 5,783 |
Gross unrealized gains | 0 | 1 |
Gross unrealized losses | 0 | 74 |
Fair value | 0 | 5,710 |
U.S. Treasury and government agencies | ||
Available-for-sale securities | ||
Amortized cost | 27,526 | 22,510 |
Gross unrealized gains | 486 | 266 |
Gross unrealized losses | 196 | 31 |
Fair value | 27,816 | 22,745 |
Obligations of U.S. states and municipalities | ||
Available-for-sale securities | ||
Amortized cost | 36,659 | 30,490 |
Gross unrealized gains | 1,580 | 1,881 |
Gross unrealized losses | 118 | 33 |
Fair value | 38,121 | 32,338 |
Held-to-maturity securities | ||
Amortized cost | 4,831 | 14,373 |
Gross unrealized gains | 69 | 554 |
Gross unrealized losses | 31 | 80 |
Fair value | 4,869 | 14,847 |
Certificates of deposit | ||
Available-for-sale securities | ||
Amortized cost | 75 | 59 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | 75 | 59 |
Non-U.S. government debt securities | ||
Available-for-sale securities | ||
Amortized cost | 24,398 | 26,900 |
Gross unrealized gains | 321 | 426 |
Gross unrealized losses | 45 | 32 |
Fair value | 24,674 | 27,294 |
Corporate debt securities | ||
Available-for-sale securities | ||
Amortized cost | 1,993 | 2,657 |
Gross unrealized gains | 64 | 101 |
Gross unrealized losses | 1 | 1 |
Fair value | 2,056 | 2,757 |
Asset-backed securities: Collateralized loan obligations | ||
Available-for-sale securities | ||
Amortized cost | 20,139 | 20,928 |
Gross unrealized gains | 12 | 69 |
Gross unrealized losses | 42 | 1 |
Fair value | 20,109 | 20,996 |
Asset-backed securities: Other | ||
Available-for-sale securities | ||
Amortized cost | 7,761 | 8,764 |
Gross unrealized gains | 70 | 77 |
Gross unrealized losses | 27 | 24 |
Fair value | 7,804 | 8,817 |
U.S. government-sponsored enterprise obligations | ||
Available-for-sale securities | ||
Fair value | 44,200 | 45,800 |
Held-to-maturity securities | ||
Amortized cost | $ 20,600 | $ 22,000 |
Investment Securities - Fair Va
Investment Securities - Fair Value and Gross Unrealized Losses by Aging Category (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities | ||
Less than 12 months, Fair value | $ 65,250 | $ 50,481 |
Less than 12 months, Gross unrealized losses | 1,248 | 201 |
12 months or more, Fair Value | 21,638 | 12,792 |
12 months or more, Gross unrealized losses | 910 | 276 |
Total fair value | 86,888 | 63,273 |
Total gross unrealized losses | 2,158 | 477 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 22,984 | 8,360 |
Less than 12 months, Gross unrealized losses | 366 | 88 |
12 months or more, Fair value | 3,272 | 4,218 |
12 months or more, Gross unrealized losses | 158 | 106 |
Total fair value | 26,256 | 12,578 |
Total gross unrealized losses | 524 | 194 |
Total investment securities with gross unrealized losses | ||
Less than 12 months, Fair value | 88,234 | 58,841 |
Less than 12 months, Gross unrealized losses | 1,614 | 289 |
12 months or more, Fair value | 24,910 | 17,010 |
12 months or more, Gross unrealized losses | 1,068 | 382 |
Total fair value | 113,144 | 75,851 |
Total gross unrealized losses | 2,682 | 671 |
Total mortgage-backed securities | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 40,001 | 37,677 |
Less than 12 months, Gross unrealized losses | 1,021 | 148 |
12 months or more, Fair Value | 14,550 | 8,908 |
12 months or more, Gross unrealized losses | 708 | 207 |
Total fair value | 54,551 | 46,585 |
Total gross unrealized losses | 1,729 | 355 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 22,131 | 7,776 |
Less than 12 months, Gross unrealized losses | 356 | 79 |
12 months or more, Fair value | 2,595 | 2,087 |
12 months or more, Gross unrealized losses | 137 | 35 |
Total fair value | 24,726 | 9,863 |
Total gross unrealized losses | 493 | 114 |
U.S. government agencies | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 37,109 | 36,037 |
Less than 12 months, Gross unrealized losses | 988 | 139 |
12 months or more, Fair Value | 10,492 | 7,711 |
12 months or more, Gross unrealized losses | 520 | 196 |
Total fair value | 47,601 | 43,748 |
Total gross unrealized losses | 1,508 | 335 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 22,131 | 4,070 |
Less than 12 months, Gross unrealized losses | 356 | 38 |
12 months or more, Fair value | 2,595 | 205 |
12 months or more, Gross unrealized losses | 137 | 2 |
Total fair value | 24,726 | 4,275 |
Total gross unrealized losses | 493 | 40 |
Residential: U.S. | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 1,343 | 1,112 |
Less than 12 months, Gross unrealized losses | 20 | 5 |
12 months or more, Fair Value | 860 | 596 |
12 months or more, Gross unrealized losses | 16 | 9 |
Total fair value | 2,203 | 1,708 |
Total gross unrealized losses | 36 | 14 |
Residential: Non-U.S. | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 635 | 0 |
Less than 12 months, Gross unrealized losses | 2 | 0 |
12 months or more, Fair Value | 180 | 266 |
12 months or more, Gross unrealized losses | 1 | 1 |
Total fair value | 815 | 266 |
Total gross unrealized losses | 3 | 1 |
Commercial | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 914 | 528 |
Less than 12 months, Gross unrealized losses | 11 | 4 |
12 months or more, Fair Value | 3,018 | 335 |
12 months or more, Gross unrealized losses | 171 | 1 |
Total fair value | 3,932 | 863 |
Total gross unrealized losses | 182 | 5 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 0 | 3,706 |
Less than 12 months, Gross unrealized losses | 0 | 41 |
12 months or more, Fair value | 0 | 1,882 |
12 months or more, Gross unrealized losses | 0 | 33 |
Total fair value | 0 | 5,588 |
Total gross unrealized losses | 0 | 74 |
U.S. Treasury and government agencies | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 4,556 | 1,834 |
Less than 12 months, Gross unrealized losses | 100 | 11 |
12 months or more, Fair Value | 1,416 | 373 |
12 months or more, Gross unrealized losses | 96 | 20 |
Total fair value | 5,972 | 2,207 |
Total gross unrealized losses | 196 | 31 |
Obligations of U.S. states and municipalities | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 4,171 | 949 |
Less than 12 months, Gross unrealized losses | 63 | 7 |
12 months or more, Fair Value | 1,291 | 1,652 |
12 months or more, Gross unrealized losses | 55 | 26 |
Total fair value | 5,462 | 2,601 |
Total gross unrealized losses | 118 | 33 |
Held-to-maturity securities | ||
Less than 12 months, Fair value | 853 | 584 |
Less than 12 months, Gross unrealized losses | 10 | 9 |
12 months or more, Fair value | 677 | 2,131 |
12 months or more, Gross unrealized losses | 21 | 71 |
Total fair value | 1,530 | 2,715 |
Total gross unrealized losses | 31 | 80 |
Certificates of deposit | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 0 | 0 |
Less than 12 months, Gross unrealized losses | 0 | 0 |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Gross unrealized losses | 0 | 0 |
Total fair value | 0 | 0 |
Total gross unrealized losses | 0 | 0 |
Non-U.S. government debt securities | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 4,237 | 6,500 |
Less than 12 months, Gross unrealized losses | 16 | 15 |
12 months or more, Fair Value | 1,798 | 811 |
12 months or more, Gross unrealized losses | 29 | 17 |
Total fair value | 6,035 | 7,311 |
Total gross unrealized losses | 45 | 32 |
Corporate debt securities | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 0 | 0 |
Less than 12 months, Gross unrealized losses | 0 | 0 |
12 months or more, Fair Value | 38 | 52 |
12 months or more, Gross unrealized losses | 1 | 1 |
Total fair value | 38 | 52 |
Total gross unrealized losses | 1 | 1 |
Asset-backed securities: Collateralized loan obligations | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 10,267 | 0 |
Less than 12 months, Gross unrealized losses | 42 | 0 |
12 months or more, Fair Value | 0 | 276 |
12 months or more, Gross unrealized losses | 0 | 1 |
Total fair value | 10,267 | 276 |
Total gross unrealized losses | 42 | 1 |
Asset-backed securities: Other | ||
Available-for-sale securities | ||
Less than 12 months, Fair value | 2,018 | 3,521 |
Less than 12 months, Gross unrealized losses | 6 | 20 |
12 months or more, Fair Value | 2,545 | 720 |
12 months or more, Gross unrealized losses | 21 | 4 |
Total fair value | 4,563 | 4,241 |
Total gross unrealized losses | $ 27 | $ 24 |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses and OTTI Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Securities gains and losses | ||||
Realized gains | $ 58 | $ 122 | $ 137 | $ 664 |
Realized losses | (103) | (123) | (507) | (696) |
OTTI losses | (1) | 0 | (1) | (6) |
Net investment securities losses | (46) | (1) | (371) | (38) |
Excluded realized losses on securities sold previously reported as OTTI loss due to intention to sell | 21 | 6 | ||
Credit-related losses recognized in income | ||||
Securities gains and losses | ||||
OTTI losses | 0 | 0 | 0 | 0 |
Investment securities the Firm intends to sell | ||||
Securities gains and losses | ||||
OTTI losses | $ (1) | $ 0 | $ (1) | $ (6) |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value by Contractual Maturity (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 4,879 | |
Due after one year through five years | 28,819 | |
Due after five years through 10 years | 33,788 | |
Due after 10 years | 131,480 | |
Amortized cost | 198,966 | $ 198,194 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 4,883 | |
Due after one year through five years | 29,117 | |
Due after five years through 10 years | 33,983 | |
Due after 10 years | 132,047 | |
Fair value | $ 200,030 | 201,678 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 2.88% | |
Due after one year through five years | 2.37% | |
Due after five years through 10 years | 2.85% | |
Due after 10 years | 3.78% | |
Average yield | 3.39% | |
Total held-to-maturity securities, Amortized cost | ||
Due in one year or less | $ 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 2,785 | |
Due after 10 years | 28,583 | |
Amortized cost | 31,368 | 47,733 |
Total held-to-maturity securities, Fair value | ||
Due in one year or less | 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 2,745 | |
Due after 10 years | 28,173 | |
Fair value | $ 30,918 | 48,652 |
Total held-to-maturity securities, Average yield | ||
Due in one year or less | 0.00% | |
Due after one year through five years | 0.00% | |
Due after five years through 10 years | 3.53% | |
Due after 10 years | 3.46% | |
Average yield | 3.47% | |
Supplemental information | ||
US government agencies and US government sponsored enterprises residential MBS estimated duration | 7 years | |
US government agencies and US government sponsored enterprises residential collateralized mortgage obligations estimated duration | 3 years | |
U.S. nonagency residential collateralized mortgage obligations estimated duration | 3 years | |
Minimum | ||
Supplemental information | ||
Due period of mortgage-backed securities and collateralized mortgage obligations | 10 years | |
Mortgage-backed securities | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 258 | |
Due after one year through five years | 377 | |
Due after five years through 10 years | 5,746 | |
Due after 10 years | 74,034 | |
Amortized cost | 80,415 | 85,886 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 260 | |
Due after one year through five years | 379 | |
Due after five years through 10 years | 5,827 | |
Due after 10 years | 72,909 | |
Fair value | $ 79,375 | 86,672 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 1.84% | |
Due after one year through five years | 2.45% | |
Due after five years through 10 years | 3.44% | |
Due after 10 years | 3.48% | |
Average yield | 3.46% | |
Total held-to-maturity securities, Amortized cost | ||
Due in one year or less | $ 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 2,765 | |
Due after 10 years | 23,772 | |
Amortized cost | 26,537 | 33,360 |
Total held-to-maturity securities, Fair value | ||
Due in one year or less | 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 2,725 | |
Due after 10 years | 23,324 | |
Fair value | $ 26,049 | 33,805 |
Total held-to-maturity securities, Average yield | ||
Due in one year or less | 0.00% | |
Due after one year through five years | 0.00% | |
Due after five years through 10 years | 3.52% | |
Due after 10 years | 3.33% | |
Average yield | 3.35% | |
Mortgage-backed securities | Fannie Mae | ||
Supplemental information | ||
Securities exceeding 10% of total stockholders' equity, Amortized cost | $ 51,200 | |
Securities exceeding 10% of total stockholders' equity, Fair value | 50,600 | |
U.S. Treasury and government agencies | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | 84 | |
Due after one year through five years | 8,565 | |
Due after five years through 10 years | 13,644 | |
Due after 10 years | 5,233 | |
Amortized cost | 27,526 | 22,510 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 85 | |
Due after one year through five years | 8,673 | |
Due after five years through 10 years | 13,533 | |
Due after 10 years | 5,525 | |
Fair value | $ 27,816 | 22,745 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 2.12% | |
Due after one year through five years | 2.70% | |
Due after five years through 10 years | 2.53% | |
Due after 10 years | 2.91% | |
Average yield | 2.66% | |
Obligations of U.S. states and municipalities | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 103 | |
Due after one year through five years | 715 | |
Due after five years through 10 years | 2,783 | |
Due after 10 years | 33,058 | |
Amortized cost | 36,659 | 30,490 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 104 | |
Due after one year through five years | 728 | |
Due after five years through 10 years | 2,872 | |
Due after 10 years | 34,417 | |
Fair value | $ 38,121 | 32,338 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 2.07% | |
Due after one year through five years | 3.89% | |
Due after five years through 10 years | 5.05% | |
Due after 10 years | 5.01% | |
Average yield | 4.98% | |
Total held-to-maturity securities, Amortized cost | ||
Due in one year or less | $ 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 20 | |
Due after 10 years | 4,811 | |
Amortized cost | 4,831 | 14,373 |
Total held-to-maturity securities, Fair value | ||
Due in one year or less | 0 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 20 | |
Due after 10 years | 4,849 | |
Fair value | $ 4,869 | 14,847 |
Total held-to-maturity securities, Average yield | ||
Due in one year or less | 0.00% | |
Due after one year through five years | 0.00% | |
Due after five years through 10 years | 3.90% | |
Due after 10 years | 4.11% | |
Average yield | 4.11% | |
Certificates of deposit | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 75 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 0 | |
Due after 10 years | 0 | |
Amortized cost | 75 | 59 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 75 | |
Due after one year through five years | 0 | |
Due after five years through 10 years | 0 | |
Due after 10 years | 0 | |
Fair value | $ 75 | 59 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 0.49% | |
Due after one year through five years | 0.00% | |
Due after five years through 10 years | 0.00% | |
Due after 10 years | 0.00% | |
Average yield | 0.49% | |
Non-U.S. government debt securities | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 4,289 | |
Due after one year through five years | 14,711 | |
Due after five years through 10 years | 5,398 | |
Due after 10 years | 0 | |
Amortized cost | 24,398 | 26,900 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 4,289 | |
Due after one year through five years | 14,886 | |
Due after five years through 10 years | 5,499 | |
Due after 10 years | 0 | |
Fair value | $ 24,674 | 27,294 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 3.00% | |
Due after one year through five years | 1.86% | |
Due after five years through 10 years | 1.30% | |
Due after 10 years | 0.00% | |
Average yield | 1.94% | |
Corporate debt securities | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 70 | |
Due after one year through five years | 914 | |
Due after five years through 10 years | 872 | |
Due after 10 years | 137 | |
Amortized cost | 1,993 | 2,657 |
Available-for-sale securities, Fair value | ||
Due in one year or less | 70 | |
Due after one year through five years | 936 | |
Due after five years through 10 years | 905 | |
Due after 10 years | 145 | |
Fair value | $ 2,056 | $ 2,757 |
Available-for-sale securities, Average yield | ||
Due in one year or less | 4.04% | |
Due after one year through five years | 4.40% | |
Due after five years through 10 years | 4.57% | |
Due after 10 years | 4.73% | |
Average yield | 4.48% | |
Asset-backed securities | ||
Available-for-sale securities, Amortized cost | ||
Due in one year or less | $ 0 | |
Due after one year through five years | 3,537 | |
Due after five years through 10 years | 5,345 | |
Due after 10 years | 19,018 | |
Amortized cost | 27,900 | |
Available-for-sale securities, Fair value | ||
Due in one year or less | 0 | |
Due after one year through five years | 3,515 | |
Due after five years through 10 years | 5,347 | |
Due after 10 years | 19,051 | |
Fair value | $ 27,913 | |
Available-for-sale securities, Average yield | ||
Due in one year or less | 0.00% | |
Due after one year through five years | 2.83% | |
Due after five years through 10 years | 3.19% | |
Due after 10 years | 3.04% | |
Average yield | 3.04% |
Securities Financing Activiti_3
Securities Financing Activities - Gross and Net Amounts of Securities Financing Agreements (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Securities purchased under resale agreements, Gross amounts | $ 521,732,000,000 | $ 448,608,000,000 |
Securities purchased under resale agreements, Amounts netted on the Consolidated balance sheets | (304,110,000,000) | (250,505,000,000) |
Securities purchased under resale agreements, Amounts presented on the Consolidated balance sheets | 217,622,000,000 | 198,103,000,000 |
Securities purchased under resale agreements, Amounts not nettable on the Consolidated balance sheets | (205,345,000,000) | (188,502,000,000) |
Securities purchased under resale agreements, Net amounts | 12,277,000,000 | 9,601,000,000 |
Securities borrowed, Gross amounts | 143,644,000,000 | 113,926,000,000 |
Securities borrowed, Amounts netted on the Consolidated balance sheets | (21,210,000,000) | (8,814,000,000) |
Securities borrowed, Amounts presented on the Consolidated balance sheets | 122,434,000,000 | 105,112,000,000 |
Securities borrowed, Amounts not nettable on the Consolidated balance sheets | (89,771,000,000) | (76,805,000,000) |
Securities borrowed, Net amounts | 32,663,000,000 | 28,307,000,000 |
Liabilities | ||
Securities sold under repurchase agreements, Gross amounts | 472,560,000,000 | 398,218,000,000 |
Securities sold under repurchase agreements, Amounts netted on the Consolidated balance sheets | (304,110,000,000) | (250,505,000,000) |
Securities sold under repurchase agreements, Amounts presented on the Consolidated balance sheets | 168,450,000,000 | 147,713,000,000 |
Securities sold under repurchase agreements, Amounts not nettable on the Consolidated balance sheets | (154,335,000,000) | (129,178,000,000) |
Securities sold under repurchase agreements, Net amounts | 14,115,000,000 | 18,535,000,000 |
Securities loaned and other, Gross amounts | 38,720,000,000 | 27,228,000,000 |
Securities loaned and other, Amounts netted on the Consolidated balance sheets | (21,210,000,000) | (8,814,000,000) |
Securities loaned and other, Amounts presented on the Consolidated balance sheets | 17,510,000,000 | 18,414,000,000 |
Securities loaned and other, Amounts not nettable on the Consolidated balance sheets | (17,146,000,000) | (18,151,000,000) |
Securities loaned and other, Net amounts | 364,000,000 | 263,000,000 |
Securities purchased under resale agreements where an appropriate legal opinion has not been either sought or obtained, Gross asset balance | 6,400,000,000 | 7,500,000,000 |
Securities borrowed where an appropriate legal opinion has not been either sought or obtained | 29,700,000,000 | 25,500,000,000 |
Securities sold under agreements to repurchase | 13,200,000,000 | 16,500,000,000 |
Securities loaned and other | 45,000,000 | 29,000,000 |
Securities-for-securities | ||
Liabilities | ||
Securities loaned and other, Amounts presented on the Consolidated balance sheets | 5,200,000,000 | 9,200,000,000 |
Securities financing agreements accounted for at fair value | ||
Assets | ||
Securities purchased under resale agreements, Amounts presented on the Consolidated balance sheets | 12,200,000,000 | 14,700,000,000 |
Liabilities | ||
Securities sold under repurchase agreements, Amounts presented on the Consolidated balance sheets | 1,100,000,000 | 697,000,000 |
Securities borrowed, fair value | 4,500,000,000 | 3,000,000,000 |
Securities financing agreements accounted for at fair value | Securities loaned | ||
Liabilities | ||
Securities loaned accounted for at fair value | $ 0 | $ 0 |
Securities Financing Activiti_4
Securities Financing Activities - Types of Financial Assets Pledged and Remaining Maturity (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | $ 472,560 | $ 398,218 |
Securities loaned and other | 38,720 | 27,228 |
Lending transactions | 17,510 | 18,414 |
Securities-for-securities | ||
Securities Financing Transaction [Line Items] | ||
Lending transactions | 5,200 | 9,200 |
Overnight and continuous | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 195,713 | 142,185 |
Securities loaned and other | 29,415 | 22,876 |
Up to 30 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 166,754 | 180,674 |
Securities loaned and other | 138 | 375 |
30 – 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 46,511 | 41,611 |
Securities loaned and other | 1,805 | 2,328 |
Greater than 90 days | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 63,582 | 33,748 |
Securities loaned and other | 7,362 | 1,649 |
Mortgage-backed securities, U.S. government agencies | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 25,116 | 13,100 |
Securities loaned and other | 0 | 0 |
Mortgage-backed securities, Residential - nonagency | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 1,861 | 2,972 |
Securities loaned and other | 0 | 0 |
Mortgage-backed securities, Commercial - nonagency | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 1,431 | 1,594 |
Securities loaned and other | 0 | 0 |
U.S. Treasury and government agencies | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 236,939 | 177,581 |
Securities loaned and other | 14 | 14 |
Obligations of U.S. states and municipalities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 1,161 | 1,557 |
Securities loaned and other | 0 | 0 |
Non-U.S. government debt | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 174,400 | 170,196 |
Securities loaned and other | 2,294 | 2,485 |
Corporate debt securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 15,474 | 14,231 |
Securities loaned and other | 216 | 287 |
Asset-backed securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 2,543 | 3,508 |
Securities loaned and other | 0 | 0 |
Equity securities | ||
Securities Financing Transaction [Line Items] | ||
Securities sold under repurchase agreements | 13,635 | 13,479 |
Securities loaned and other | $ 36,196 | $ 24,442 |
Securities Financing Activiti_5
Securities Financing Activities - Transfers Not Qualifying for Sale Accounting (Details) - USD ($) $ in Billions | Sep. 30, 2018 | Dec. 31, 2017 |
Securities Financing Transactions Disclosures [Abstract] | ||
Transfers not qualifying for sale accounting | $ 1.6 | $ 1.5 |
Loans - By Portfolio Segment (D
Loans - By Portfolio Segment (Details) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018USD ($)loan_segment | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | |
Receivables [Abstract] | |||
Number of portfolio segments | loan_segment | 3 | ||
Loan balances by portfolio segment: | |||
Retained loans | $ 947,651 | $ 924,838 | $ 909,182 |
Held-for-sale | 3,680 | 3,351 | |
At fair value | 2,987 | 2,508 | |
Total | 954,318 | 930,697 | |
Consumer, excluding credit card | |||
Loan balances by portfolio segment: | |||
Retained loans | 375,958 | 372,553 | 369,413 |
Held-for-sale | 104 | 128 | |
At fair value | 0 | 0 | |
Total | 376,062 | 372,681 | |
Credit card | |||
Loan balances by portfolio segment: | |||
Retained loans | 147,856 | 149,387 | |
Held-for-sale | 25 | 124 | |
At fair value | 0 | 0 | |
Total | 147,881 | 149,511 | |
Wholesale | |||
Loan balances by portfolio segment: | |||
Retained loans | 423,837 | 402,898 | $ 398,569 |
Held-for-sale | 3,551 | 3,099 | |
At fair value | 2,987 | 2,508 | |
Total | $ 430,375 | $ 408,505 |
Loans - Purchased, Sold and Rec
Loans - Purchased, Sold and Reclassified to Held-for-Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | $ 846 | $ 1,190 | $ 4,079 | $ 3,634 |
Sales | 5,986 | 4,014 | 17,490 | 10,191 |
Retained loans reclassified to held-for-sale | 666 | 367 | 1,962 | 7,301 |
Consumer, excluding credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 561 | 711 | 2,164 | 2,277 |
Sales | 1,789 | 672 | 4,661 | 2,025 |
Retained loans reclassified to held-for-sale | 0 | 0 | 36 | 6,340 |
Excluded retained loans purchased from correspondents that were originated in accordance with the Firm's underwriting standards | 5,600 | 6,900 | 14,500 | 18,200 |
Credit card | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Retained loans reclassified to held-for-sale | 0 | 0 | 0 | 0 |
Wholesale | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchases | 285 | 479 | 1,915 | 1,357 |
Sales | 4,197 | 3,342 | 12,829 | 8,166 |
Retained loans reclassified to held-for-sale | $ 666 | $ 367 | $ 1,926 | $ 961 |
Loans - Consumer, Excluding Cre
Loans - Consumer, Excluding Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651 | $ 924,838 | $ 909,182 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 375,958 | 372,553 | $ 369,413 |
Consumer, excluding credit card | Residential mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 231,361 | 216,496 | |
Consumer, excluding credit card | Residential mortgage | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 25,209 | 30,576 | |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 29,318 | 33,450 | |
Consumer, excluding credit card | Home equity | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,393 | 10,799 | |
Consumer, excluding credit card | Auto | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 63,619 | 66,242 | |
Consumer, excluding credit card | Consumer & Business Banking | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 26,451 | 25,789 | |
Consumer, excluding credit card | Fixed Rate Residential Mortgage | Prime mortgage | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,931 | 6,479 | |
Consumer, excluding credit card | Fixed Rate Residential Mortgage | Subprime mortgage | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,072 | 2,609 | |
Consumer, excluding credit card | Option ARMs | Residential real estate – PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 8,813 | $ 10,689 |
Loans - Consumer, Excluding C_2
Loans - Consumer, Excluding Credit Card Loan Portfolio, Residential Real Estate, Excluding PCI Loans (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651,000,000 | $ 924,838,000,000 | $ 909,182,000,000 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 375,958,000,000 | 372,553,000,000 | $ 369,413,000,000 |
90 or more days past due and government guaranteed | 0 | 0 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 260,679,000,000 | $ 249,946,000,000 | |
% of 30 plus days past due to total retained loans | 0.75% | 1.09% | |
Nonaccrual loans | $ 3,262,000,000 | $ 3,785,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 80,176,000,000 | 75,437,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 35,162,000,000 | 34,339,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 17,450,000,000 | 17,022,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 15,769,000,000 | 14,529,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,243,000,000 | 11,445,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,150,000,000 | 9,099,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,961,000,000 | 7,988,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Colorado | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,656,000,000 | 7,967,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,791,000,000 | 6,618,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,730,000,000 | 5,548,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 60,591,000,000 | 59,954,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,096,000,000 | 8,495,000,000 | |
90 or more days past due and government guaranteed | 2,828,000,000 | 4,172,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | U.S. government-guaranteed | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,100,000,000 | 8,500,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,245,000,000 | 2,948,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 34,000,000 | 47,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 31,000,000 | 22,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 158,000,000 | 332,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 106,000,000 | 183,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,665,000,000 | 6,045,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 673,000,000 | 1,052,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 235,436,000,000 | 220,020,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 10,235,000,000 | 10,802,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 254,353,000,000 | 241,104,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | Current | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,700,000,000 | 2,400,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,295,000,000 | 4,905,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30–149 days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,200,000,000 | 3,200,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,031,000,000 | 3,937,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 150 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,200,000,000 | 2,900,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 30 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,400,000,000 | 6,100,000,000 | |
Consumer, excluding credit card | Total residential real estate – excluding PCI | 90 or more days past due | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 1,300,000,000 | 1,500,000,000 | |
Consumer, excluding credit card | Residential mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 231,361,000,000 | $ 216,496,000,000 | |
% of 30 plus days past due to total retained loans | 0.51% | 0.77% | |
Nonaccrual loans | $ 1,880,000,000 | $ 2,175,000,000 | |
Consumer, excluding credit card | Residential mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 74,324,000,000 | 68,855,000,000 | |
Consumer, excluding credit card | Residential mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 29,146,000,000 | 27,473,000,000 | |
Consumer, excluding credit card | Residential mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 15,242,000,000 | 14,501,000,000 | |
Consumer, excluding credit card | Residential mortgage | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,926,000,000 | 12,508,000,000 | |
Consumer, excluding credit card | Residential mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 10,624,000,000 | 9,598,000,000 | |
Consumer, excluding credit card | Residential mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,448,000,000 | 7,142,000,000 | |
Consumer, excluding credit card | Residential mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,057,000,000 | 6,962,000,000 | |
Consumer, excluding credit card | Residential mortgage | Colorado | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,131,000,000 | 7,335,000,000 | |
Consumer, excluding credit card | Residential mortgage | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,545,000,000 | 6,323,000,000 | |
Consumer, excluding credit card | Residential mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,519,000,000 | 4,109,000,000 | |
Consumer, excluding credit card | Residential mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 53,399,000,000 | 51,690,000,000 | |
Consumer, excluding credit card | Residential mortgage | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,096,000,000 | 8,495,000,000 | |
90 or more days past due and government guaranteed | 2,828,000,000 | 4,172,000,000 | |
Consumer, excluding credit card | Residential mortgage | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 888,000,000 | 1,259,000,000 | |
Consumer, excluding credit card | Residential mortgage | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 28,000,000 | 37,000,000 | |
Consumer, excluding credit card | Residential mortgage | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 30,000,000 | 19,000,000 | |
Consumer, excluding credit card | Residential mortgage | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 20,000,000 | 36,000,000 | |
Consumer, excluding credit card | Residential mortgage | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 60,000,000 | 88,000,000 | |
Consumer, excluding credit card | Residential mortgage | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,606,000,000 | 4,369,000,000 | |
Consumer, excluding credit card | Residential mortgage | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 314,000,000 | 483,000,000 | |
Consumer, excluding credit card | Residential mortgage | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 212,585,000,000 | 194,758,000,000 | |
Consumer, excluding credit card | Residential mortgage | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,734,000,000 | 6,952,000,000 | |
Consumer, excluding credit card | Residential mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 225,799,000,000 | 208,713,000,000 | |
Consumer, excluding credit card | Residential mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,825,000,000 | 4,234,000,000 | |
Consumer, excluding credit card | Residential mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,737,000,000 | 3,549,000,000 | |
Consumer, excluding credit card | Residential mortgage | 90 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 29,318,000,000 | $ 33,450,000,000 | |
% of 30 plus days past due to total retained loans | 2.61% | 3.17% | |
Nonaccrual loans | $ 1,382,000,000 | $ 1,610,000,000 | |
Consumer, excluding credit card | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,852,000,000 | 6,582,000,000 | |
Consumer, excluding credit card | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,016,000,000 | 6,866,000,000 | |
Consumer, excluding credit card | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,208,000,000 | 2,521,000,000 | |
Consumer, excluding credit card | Home equity | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,843,000,000 | 2,021,000,000 | |
Consumer, excluding credit card | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,619,000,000 | 1,847,000,000 | |
Consumer, excluding credit card | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,702,000,000 | 1,957,000,000 | |
Consumer, excluding credit card | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 904,000,000 | 1,026,000,000 | |
Consumer, excluding credit card | Home equity | Colorado | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 525,000,000 | 632,000,000 | |
Consumer, excluding credit card | Home equity | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 246,000,000 | 295,000,000 | |
Consumer, excluding credit card | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,211,000,000 | 1,439,000,000 | |
Consumer, excluding credit card | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,192,000,000 | 8,264,000,000 | |
Consumer, excluding credit card | Home equity | U.S. government-guaranteed | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
90 or more days past due and government guaranteed | 0 | 0 | |
Consumer, excluding credit card | Home equity | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,357,000,000 | 1,689,000,000 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,000,000 | 10,000,000 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,000,000 | 3,000,000 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 138,000,000 | 296,000,000 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 46,000,000 | 95,000,000 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,059,000,000 | 1,676,000,000 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 359,000,000 | 569,000,000 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 22,851,000,000 | 25,262,000,000 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,501,000,000 | 3,850,000,000 | |
Consumer, excluding credit card | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 28,554,000,000 | 32,391,000,000 | |
Consumer, excluding credit card | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 470,000,000 | 671,000,000 | |
Consumer, excluding credit card | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 294,000,000 | $ 388,000,000 |
Loans - Consumer, Excluding C_3
Loans - Consumer, Excluding Credit Card Loan Portfolio, Delinquency Statistics Junior Lien Home Equity Loans (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 947,651 | $ 924,838 | $ 909,182 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 375,958 | 372,553 | $ 369,413 |
Consumer, excluding credit card | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 29,318 | $ 33,450 | |
Total 30 plus day delinquency rate | 2.61% | 3.17% | |
Consumer, excluding credit card | Total | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of senior liens to total financing receivables | 37.00% | ||
Consumer, excluding credit card | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 18,568 | $ 21,266 | |
Total 30 plus day delinquency rate | 2.04% | 2.64% | |
Consumer, excluding credit card | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,104 | $ 1,371 | |
Total 30 plus day delinquency rate | 2.99% | 3.50% | |
Consumer, excluding credit card | HELOCs, Within the revolving period | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Open-ended revolving period | 10 years | ||
Consumer, excluding credit card | HELOCs, Within the revolving period | HELOCs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 5,482 | $ 6,363 | |
Total 30 plus day delinquency rate | 0.22% | 0.50% | |
Consumer, excluding credit card | HELOCs, Beyond the revolving period | HELOCs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Amortization period | 20 years | ||
Consumer, excluding credit card | HELOCs, Beyond the revolving period | HELOCs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 11,982 | $ 13,532 | |
Total 30 plus day delinquency rate | 2.78% | 3.56% |
Loans - Consumer, Excluding C_4
Loans - Consumer, Excluding Credit Card Loan Portfolio, Impaired Loans (Details) - Consumer, excluding credit card $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)payment | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Impaired loans | |||||
Loans modified subsequent to repurchase from Ginnie Mae | $ 4,000 | $ 4,000 | $ 3,800 | ||
TDRs less than 90 days past due | 2,000 | 2,000 | 2,200 | ||
Total residential real estate – excluding PCI | |||||
Impaired loans | |||||
With an allowance | 4,735 | 4,735 | 5,643 | ||
Without an allowance | 2,043 | 2,043 | 2,095 | ||
Total impaired loans | 6,778 | 6,778 | 7,738 | ||
Allowance for loan losses related to impaired loans | 139 | 139 | 173 | ||
Unpaid principal balance of impaired loans | 9,976 | 9,976 | 11,442 | ||
Impaired loans on nonaccrual status | 2,529 | 2,529 | 2,775 | ||
Average impaired loans | 6,937 | $ 7,893 | 7,334 | $ 8,074 | |
Interest income on impaired loans | 94 | 103 | 295 | 312 | |
Interest income on impaired loans on a cash basis | 40 | 39 | $ 121 | 117 | |
Number of payments under modified terms to recognize interest on cash basis | payment | 6 | ||||
Residential mortgage | |||||
Impaired loans | |||||
With an allowance | 3,558 | $ 3,558 | 4,407 | ||
Without an allowance | 1,164 | 1,164 | 1,213 | ||
Total impaired loans | 4,722 | 4,722 | 5,620 | ||
Allowance for loan losses related to impaired loans | 97 | 97 | 62 | ||
Unpaid principal balance of impaired loans | 6,439 | 6,439 | 7,741 | ||
Impaired loans on nonaccrual status | 1,536 | 1,536 | 1,743 | ||
Average impaired loans | 4,872 | 5,743 | 5,242 | 5,861 | |
Interest income on impaired loans | 61 | 71 | 197 | 217 | |
Interest income on impaired loans on a cash basis | 19 | 19 | $ 58 | 57 | |
Residential mortgage | Permanent Modification | |||||
Impaired loans | |||||
Rate of default for modified loans, estimated weighted average | 13.00% | ||||
Home equity | |||||
Impaired loans | |||||
With an allowance | 1,177 | $ 1,177 | 1,236 | ||
Without an allowance | 879 | 879 | 882 | ||
Total impaired loans | 2,056 | 2,056 | 2,118 | ||
Allowance for loan losses related to impaired loans | 42 | 42 | 111 | ||
Unpaid principal balance of impaired loans | 3,537 | 3,537 | 3,701 | ||
Impaired loans on nonaccrual status | 993 | 993 | $ 1,032 | ||
Average impaired loans | 2,065 | 2,150 | 2,092 | 2,213 | |
Interest income on impaired loans | 33 | 32 | 98 | 95 | |
Interest income on impaired loans on a cash basis | $ 21 | $ 20 | $ 63 | $ 60 | |
Home equity | Permanent Modification | |||||
Impaired loans | |||||
Rate of default for modified loans, estimated weighted average | 9.00% |
Loans - Consumer, Excluding C_5
Loans - Consumer, Excluding Credit Card Loan Portfolio, Loan Modifications, New TDRs (Details) - Consumer, excluding credit card - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Total residential real estate – excluding PCI | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 122 | $ 139 | $ 555 | $ 457 |
Residential mortgage | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | 67 | 57 | 314 | 225 |
Home equity | ||||
Financing Receivable, Impaired [Line Items] | ||||
New TDRs | $ 55 | $ 82 | $ 241 | $ 232 |
Loans - Consumer, Excluding C_6
Loans - Consumer, Excluding Credit Card Loan Portfolio, Loan Modifications, Nature and Extent of Modifications (Details) - Consumer, excluding credit card - loan | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Impaired [Line Items] | ||||
Percentage, sum of items by type, may exceed | 100.00% | |||
Total residential real estate – excluding PCI | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 1,099 | 742 | 3,684 | 2,896 |
Total residential real estate – excluding PCI | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 1,658 | 1,738 | 6,379 | 5,980 |
Total residential real estate – excluding PCI | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 69.00% | 61.00% | 49.00% | 69.00% |
Total residential real estate – excluding PCI | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 86.00% | 70.00% | 57.00% | 80.00% |
Total residential real estate – excluding PCI | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 19.00% | 12.00% | 31.00% | 13.00% |
Total residential real estate – excluding PCI | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 8.00% | 19.00% | 7.00% | 14.00% |
Total residential real estate – excluding PCI | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 49.00% | 27.00% | 52.00% | 21.00% |
Residential mortgage | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 513 | 206 | 1,789 | 1,052 |
Residential mortgage | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 719 | 510 | 2,374 | 1,952 |
Residential mortgage | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 58.00% | 64.00% | 36.00% | 73.00% |
Residential mortgage | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 83.00% | 80.00% | 49.00% | 84.00% |
Residential mortgage | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 30.00% | 22.00% | 47.00% | 16.00% |
Residential mortgage | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 9.00% | 17.00% | 7.00% | 18.00% |
Residential mortgage | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 36.00% | 15.00% | 40.00% | 24.00% |
Home equity | Trial Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 586 | 536 | 1,895 | 1,844 |
Home equity | Permanent Modification | ||||
Financing Receivable, Impaired [Line Items] | ||||
Number of loans modified | 939 | 1,228 | 4,005 | 4,028 |
Home equity | Interest rate reduction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 77.00% | 60.00% | 57.00% | 68.00% |
Home equity | Term or payment extension | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 88.00% | 66.00% | 62.00% | 78.00% |
Home equity | Principal and/or interest deferred | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 11.00% | 8.00% | 22.00% | 12.00% |
Home equity | Principal forgiveness | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 7.00% | 19.00% | 7.00% | 12.00% |
Home equity | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Concession granted | 58.00% | 32.00% | 58.00% | 19.00% |
Loans - Consumer, Excluding C_7
Loans - Consumer, Excluding Credit Card Loan Portfolio, Financial Effects of Modifications and Redefaults (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)loan_payment | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Carrying value | $ 947,651 | $ 909,182 | $ 947,651 | $ 909,182 | $ 924,838 |
Consumer, excluding credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 375,958 | $ 369,413 | 375,958 | $ 369,413 | 372,553 |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | 719 | $ 719 | 787 | ||
Consumer, excluding credit card | Maximum | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Consumer, excluding credit card | Total residential real estate – excluding PCI | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of payments past due for deemed payment | loan_payment | 2 | ||||
Carrying value | $ 260,679 | $ 260,679 | 249,946 | ||
Consumer, excluding credit card | Total residential real estate – excluding PCI | Maximum | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of months before a payment redefault under modified loans | 12 months | ||||
Consumer, excluding credit card | Total residential real estate – excluding PCI | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.89% | 5.06% | 5.39% | 5.06% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.01% | 2.92% | 3.49% | 2.79% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 21 years | 22 years | 22 years | 23 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 39 years | 38 years | 38 years | 38 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 0 | $ 1 | $ 2 | |
Principal deferred | 9 | 4 | 24 | 18 | |
Principal forgiven | 4 | 9 | 14 | 25 | |
Balance of loans that redefaulted within one year of permanent modification | 46 | $ 49 | 118 | $ 122 | |
Consumer, excluding credit card | Residential mortgage | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 231,361 | $ 231,361 | 216,496 | ||
Consumer, excluding credit card | Residential mortgage | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 6.13% | 4.92% | 5.45% | 5.16% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 4.23% | 2.89% | 3.64% | 2.97% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 22 years | 24 years | 24 years | 24 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 39 years | 38 years | 38 years | 38 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 0 | $ 0 | $ 1 | |
Principal deferred | 7 | 3 | 17 | 10 | |
Principal forgiven | 3 | 5 | 9 | 16 | |
Balance of loans that redefaulted within one year of permanent modification | 27 | $ 32 | $ 69 | $ 86 | |
Modifications, weighted-average remaining life | 10 years | ||||
Consumer, excluding credit card | Home equity | |||||
Financing Receivable, Impaired [Line Items] | |||||
Carrying value | $ 29,318 | $ 29,318 | $ 33,450 | ||
Consumer, excluding credit card | Home equity | Permanent Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Weighted-average interest rate of loans with interest rate reductions – before TDR | 5.69% | 5.26% | 5.34% | 4.92% | |
Weighted-average interest rate of loans with interest rate reductions – after TDR | 3.83% | 2.96% | 3.39% | 2.55% | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR | 18 years | 18 years | 18 years | 22 years | |
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR | 39 years | 38 years | 39 years | 39 years | |
Charge-offs recognized upon permanent modification | $ 0 | $ 0 | $ 1 | $ 1 | |
Principal deferred | 2 | 1 | 7 | 8 | |
Principal forgiven | 1 | 4 | 5 | 9 | |
Balance of loans that redefaulted within one year of permanent modification | $ 19 | $ 17 | $ 49 | $ 36 | |
Modifications, weighted-average remaining life | 9 years |
Loans - Consumer, Excluding C_8
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Loans (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651,000,000 | $ 924,838,000,000 | $ 909,182,000,000 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 375,958,000,000 | 372,553,000,000 | $ 369,413,000,000 |
90 or more days past due and still accruing | 0 | 0 | |
Consumer, excluding credit card | Auto | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 63,619,000,000 | $ 66,242,000,000 | |
% of 30 plus days past due to total retained loans | 0.82% | 0.89% | |
Nonaccrual loans | $ 137,000,000 | $ 141,000,000 | |
Consumer, excluding credit card | Auto | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,193,000,000 | 15,604,000,000 | |
Consumer, excluding credit card | Auto | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 337,000,000 | 93,000,000 | |
Consumer, excluding credit card | Auto | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,000,000 | 9,000,000 | |
Consumer, excluding credit card | Auto | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,382,000,000 | 8,445,000,000 | |
Consumer, excluding credit card | Auto | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,497,000,000 | 7,013,000,000 | |
Consumer, excluding credit card | Auto | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,843,000,000 | 4,023,000,000 | |
Consumer, excluding credit card | Auto | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,667,000,000 | 3,916,000,000 | |
Consumer, excluding credit card | Auto | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,332,000,000 | 3,350,000,000 | |
Consumer, excluding credit card | Auto | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,061,000,000 | 2,221,000,000 | |
Consumer, excluding credit card | Auto | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,987,000,000 | 2,105,000,000 | |
Consumer, excluding credit card | Auto | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,990,000,000 | 2,044,000,000 | |
Consumer, excluding credit card | Auto | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,378,000,000 | 1,418,000,000 | |
Consumer, excluding credit card | Auto | Louisiana | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,570,000,000 | 1,656,000,000 | |
Consumer, excluding credit card | Auto | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 28,912,000,000 | 30,051,000,000 | |
Consumer, excluding credit card | Auto | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 63,095,000,000 | 65,651,000,000 | |
Consumer, excluding credit card | Auto | 30–119 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 517,000,000 | 584,000,000 | |
Consumer, excluding credit card | Auto | 120 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 7,000,000 | 7,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 26,451,000,000 | $ 25,789,000,000 | |
% of 30 plus days past due to total retained loans | 1.06% | 1.30% | |
Nonaccrual loans | $ 237,000,000 | $ 283,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 18,644,000,000 | 17,938,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 760,000,000 | 791,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 195,000,000 | 213,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,375,000,000 | 5,032,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,002,000,000 | 2,916,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,218,000,000 | 4,195,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,045,000,000 | 2,017,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,484,000,000 | 1,424,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,451,000,000 | 1,383,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,346,000,000 | 1,380,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 738,000,000 | 721,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,332,000,000 | 1,357,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Louisiana | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 860,000,000 | 849,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,600,000,000 | 4,515,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 26,170,000,000 | 25,454,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | 30–119 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 183,000,000 | 213,000,000 | |
Consumer, excluding credit card | Consumer and Business Banking | 120 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 98,000,000 | 122,000,000 | |
Consumer, excluding credit card | Total other consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 90,070,000,000 | $ 92,031,000,000 | |
% of 30 plus days past due to total retained loans | 0.89% | 1.01% | |
Nonaccrual loans | $ 374,000,000 | $ 424,000,000 | |
Consumer, excluding credit card | Total other consumer | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 32,837,000,000 | 33,542,000,000 | |
Consumer, excluding credit card | Total other consumer | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,097,000,000 | 884,000,000 | |
Consumer, excluding credit card | Total other consumer | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 198,000,000 | 222,000,000 | |
Consumer, excluding credit card | Total other consumer | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,757,000,000 | 13,477,000,000 | |
Consumer, excluding credit card | Total other consumer | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,499,000,000 | 9,929,000,000 | |
Consumer, excluding credit card | Total other consumer | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,061,000,000 | 8,218,000,000 | |
Consumer, excluding credit card | Total other consumer | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 5,712,000,000 | 5,933,000,000 | |
Consumer, excluding credit card | Total other consumer | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,816,000,000 | 4,774,000,000 | |
Consumer, excluding credit card | Total other consumer | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,512,000,000 | 3,604,000,000 | |
Consumer, excluding credit card | Total other consumer | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,333,000,000 | 3,485,000,000 | |
Consumer, excluding credit card | Total other consumer | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,728,000,000 | 2,765,000,000 | |
Consumer, excluding credit card | Total other consumer | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,710,000,000 | 2,775,000,000 | |
Consumer, excluding credit card | Total other consumer | Louisiana | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,430,000,000 | 2,505,000,000 | |
Consumer, excluding credit card | Total other consumer | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 33,512,000,000 | 34,566,000,000 | |
Consumer, excluding credit card | Total other consumer | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 89,265,000,000 | 91,105,000,000 | |
Consumer, excluding credit card | Total other consumer | 30–119 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 700,000,000 | 797,000,000 | |
Consumer, excluding credit card | Total other consumer | 120 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 105,000,000 | $ 129,000,000 |
Loans - Consumer, Excluding C_9
Loans - Consumer, Excluding Credit Card Loan Portfolio, Other Consumer Impaired Loans and Loan Modifications (Details) - Consumer, excluding credit card - Other consumer - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||||
With an allowance | $ 227 | $ 227 | $ 272 | ||
Without an allowance | 41 | 41 | 26 | ||
Total impaired loans | 268 | 268 | 298 | ||
Allowance for loan losses related to impaired loans | 65 | 65 | 73 | ||
Unpaid principal balance of impaired loans | 372 | 372 | 402 | ||
Impaired loans on nonaccrual status | 244 | 244 | 268 | ||
Average impaired loans | 271 | $ 366 | 281 | $ 459 | |
Loans modified in TDRs | 90 | 90 | 102 | ||
TDRs on nonaccrual status | $ 66 | $ 66 | $ 72 |
Loans - Consumer, Excluding _10
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Loans (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | $ 947,651 | $ 924,838 | $ 909,182 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 375,958 | 372,553 | $ 369,413 |
Consumer, excluding credit card | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 231,361 | 216,496 | |
Unpaid principal balance of impaired loans | 6,439 | 7,741 | |
Consumer, excluding credit card | Total PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 74,324 | 68,855 | |
Consumer, excluding credit card | Total PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 10,624 | 9,598 | |
Consumer, excluding credit card | Total PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 29,146 | 27,473 | |
Consumer, excluding credit card | Total PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,057 | 6,962 | |
Consumer, excluding credit card | Total PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 15,242 | 14,501 | |
Consumer, excluding credit card | Total PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,448 | 7,142 | |
Consumer, excluding credit card | Total PCI | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,545 | 6,323 | |
Consumer, excluding credit card | Total PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,519 | 4,109 | |
Consumer, excluding credit card | Total PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 53,399 | 51,690 | |
Consumer, excluding credit card | Total PCI | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 888 | 1,259 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 28 | 37 | |
Consumer, excluding credit card | Total PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 30 | 19 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 20 | 36 | |
Consumer, excluding credit card | Total PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 60 | 88 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,606 | 4,369 | |
Consumer, excluding credit card | Total PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 314 | 483 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 212,585 | 194,758 | |
Consumer, excluding credit card | Total PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,734 | 6,952 | |
Consumer, excluding credit card | Total PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 225,799 | 208,713 | |
Consumer, excluding credit card | Total PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,825 | 4,234 | |
Consumer, excluding credit card | Total PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,737 | 3,549 | |
Consumer, excluding credit card | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 29,318 | 33,450 | |
Unpaid principal balance of impaired loans | 3,537 | 3,701 | |
Consumer, excluding credit card | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 5,852 | 6,582 | |
Consumer, excluding credit card | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,619 | 1,847 | |
Consumer, excluding credit card | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6,016 | 6,866 | |
Consumer, excluding credit card | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 904 | 1,026 | |
Consumer, excluding credit card | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,208 | 2,521 | |
Consumer, excluding credit card | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,702 | 1,957 | |
Consumer, excluding credit card | Home equity | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 246 | 295 | |
Consumer, excluding credit card | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,211 | 1,439 | |
Consumer, excluding credit card | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 7,192 | 8,264 | |
Consumer, excluding credit card | Home equity | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,357 | 1,689 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 6 | 10 | |
Consumer, excluding credit card | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1 | 3 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 138 | 296 | |
Consumer, excluding credit card | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 46 | 95 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 1,059 | 1,676 | |
Consumer, excluding credit card | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 359 | 569 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 22,851 | 25,262 | |
Consumer, excluding credit card | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 3,501 | 3,850 | |
Consumer, excluding credit card | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 28,554 | 32,391 | |
Consumer, excluding credit card | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 470 | 671 | |
Consumer, excluding credit card | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 294 | 388 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 25,209 | 30,576 | |
Unpaid principal balance of impaired loans | $ 25,971 | $ 31,617 | |
% of 30 days past due to total loans | 9.39% | 10.13% | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 13,977 | $ 17,293 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,367 | 2,739 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,746 | 2,022 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 776 | 966 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 748 | 883 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 739 | 866 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 515 | 633 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Maryland | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 449 | 550 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 423 | 520 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 411 | 525 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3,820 | 4,620 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,259 | 1,515 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 21 | 45 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 45 | 66 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 192 | 353 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 181 | 320 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,145 | 1,851 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 938 | 1,469 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 14,406 | 16,693 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 7,784 | 9,305 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 23,532 | 28,413 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,250 | 1,620 | |
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,189 | 1,584 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 9,393 | 10,799 | |
Unpaid principal balance of impaired loans | $ 9,567 | $ 11,020 | |
% of 30 days past due to total loans | 5.44% | 6.79% | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 5,678 | $ 6,555 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,014 | 1,137 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 543 | 607 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 442 | 532 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 242 | 273 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 217 | 242 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 67 | 79 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Maryland | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 51 | 57 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 56 | 66 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 175 | 203 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,082 | 1,269 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 502 | 577 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 17 | 33 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 15 | 21 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 153 | 274 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 73 | 132 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 846 | 1,195 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 394 | 559 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 5,627 | 6,134 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,940 | 2,095 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 9,047 | 10,272 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 257 | 356 | |
Consumer, excluding credit card | Residential real estate – PCI | Home equity | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 263 | 392 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 4,931 | 6,479 | |
Unpaid principal balance of impaired loans | $ 4,955 | $ 6,502 | |
% of 30 days past due to total loans | 10.62% | 10.20% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 2,706 | $ 3,716 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 351 | 428 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 383 | 457 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 103 | 135 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 164 | 200 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 145 | 178 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 118 | 149 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Maryland | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 104 | 129 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 94 | 123 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 70 | 106 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 717 | 881 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 249 | 319 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1 | 4 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 10 | 16 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 7 | 16 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 24 | 42 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 92 | 221 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 132 | 230 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,791 | 3,551 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,649 | 2,103 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 4,429 | 5,839 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 269 | 336 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Prime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 257 | 327 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 2,072 | 2,609 | |
Unpaid principal balance of impaired loans | $ 2,592 | $ 3,197 | |
% of 30 days past due to total loans | 16.98% | 17.42% | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 627 | $ 797 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 249 | 296 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 282 | 330 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 46 | 61 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 131 | 161 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 94 | 110 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 78 | 98 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Maryland | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 106 | 132 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 39 | 51 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 45 | 60 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 895 | 1,101 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 124 | 149 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 0 | 2 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 12 | 20 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 8 | 20 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 38 | 75 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 62 | 119 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 192 | 309 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 753 | 895 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,403 | 1,608 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,152 | 2,640 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 297 | 381 | |
Consumer, excluding credit card | Residential real estate – PCI | Mortgage | Subprime mortgage | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 143 | 176 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Carrying value | 8,813 | 10,689 | |
Unpaid principal balance of impaired loans | $ 8,857 | $ 10,898 | |
% of 30 days past due to total loans | 10.76% | 11.34% | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 4,966 | $ 6,225 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 753 | 878 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 538 | 628 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Washington | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 185 | 238 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 211 | 249 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 283 | 336 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Massachusetts | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 252 | 307 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Maryland | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 188 | 232 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Virginia | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 234 | 280 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Arizona | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 121 | 156 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 1,126 | 1,369 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | No FICO/LTV available | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 384 | 470 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Greater than 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 3 | 6 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Greater than 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 8 | 9 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 101% to 125% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 24 | 43 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 101% to 125% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 46 | 71 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 80% to 100% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 145 | 316 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 80% to 100% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 220 | 371 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Less than 80% and refreshed FICO scores | Equal to or greater than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 5,235 | 6,113 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Less than 80% and refreshed FICO scores | Less than 660 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 2,792 | 3,499 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 7,904 | 9,662 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 30–149 days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | 427 | 547 | |
Consumer, excluding credit card | Residential real estate – PCI | Option ARMs | 150 or more days past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance of impaired loans | $ 526 | $ 689 |
Loans - Consumer, Excluding _11
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Delinquency Statistics (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 947,651 | $ 924,838 | $ 909,182 |
Consumer, excluding credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 375,958 | 372,553 | $ 369,413 |
Consumer, excluding credit card | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 29,318 | $ 33,450 | |
Total 30 day delinquency rate | 2.61% | 3.17% | |
Consumer, excluding credit card | Total | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of senior liens to total financing receivables | 37.00% | ||
Consumer, excluding credit card | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 18,568 | $ 21,266 | |
Total 30 day delinquency rate | 2.04% | 2.64% | |
Consumer, excluding credit card | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,104 | $ 1,371 | |
Total 30 day delinquency rate | 2.99% | 3.50% | |
Consumer, excluding credit card | Residential real estate – PCI | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 9,393 | $ 10,799 | |
Consumer, excluding credit card | Residential real estate – PCI | Total | Senior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of senior liens to total financing receivables | 25.00% | ||
Consumer, excluding credit card | Residential real estate – PCI | Total | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 7,139 | $ 8,286 | |
Total 30 day delinquency rate | 3.77% | 4.65% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOCs | Junior lien | Within the revolving period | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 6 | $ 51 | |
Total 30 day delinquency rate | 0.00% | 1.96% | |
Open-ended revolving period | 10 years | ||
Consumer, excluding credit card | Residential real estate – PCI | HELOCs | Junior lien | Beyond the revolving period | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 6,837 | $ 7,875 | |
Total 30 day delinquency rate | 3.79% | 4.63% | |
Consumer, excluding credit card | Residential real estate – PCI | HELOANs | Junior lien | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 296 | $ 360 | |
Total 30 day delinquency rate | 3.38% | 5.28% |
Loans - Consumer, Excluding _12
Loans - Consumer, Excluding Credit Card Loan Portfolio, PCI Accretable Yield Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | $ 947,651 | $ 909,182 | $ 947,651 | $ 909,182 | $ 924,838 |
Consumer, excluding credit card | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | 375,958 | 369,413 | 375,958 | 369,413 | 372,553 |
Consumer, excluding credit card | In Process of Active or Suspended Foreclosure | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | 719 | 719 | 787 | ||
Consumer, excluding credit card | Total PCI | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | 231,361 | 231,361 | 216,496 | ||
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Beginning balance | 8,722 | 12,639 | 11,159 | 11,768 | |
Accretion into interest income | (303) | (345) | (958) | (1,061) | |
Changes in interest rates on variable-rate loans | 37 | 51 | (231) | 218 | |
Other changes in expected cash flows | 46 | (1,333) | (1,468) | 87 | |
Ending balance | $ 8,502 | $ 11,012 | $ 8,502 | $ 11,012 | |
Accretable yield percentage | 4.95% | 4.54% | 4.88% | 4.48% | |
Loans | $ 25,209 | $ 25,209 | 30,576 | ||
Consumer, excluding credit card | Residential real estate – PCI | Total PCI | In Process of Active or Suspended Foreclosure | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||||
Loans | $ 1,100 | $ 1,100 | $ 1,300 |
Loans - Credit Card Loan Portfo
Loans - Credit Card Loan Portfolio (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651 | $ 924,838 | $ 909,182 |
Credit card | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 147,856 | $ 149,387 | |
% of 30 plus days past due to total retained loans | 1.75% | 1.80% | |
% of 90 plus days past due to total retained loans | 0.85% | 0.92% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Equal to or greater than 660 | 83.70% | 84.00% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, Less than 660 | 14.90% | 14.60% | |
Percentage of portfolio based on carrying value with estimated refreshed FICO scores, No FICO available | 1.40% | 1.40% | |
Credit card | California | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 22,166 | $ 22,245 | |
Credit card | Texas | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,171 | 14,200 | |
Credit card | New York | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 12,908 | 13,021 | |
Credit card | Florida | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 9,064 | 9,138 | |
Credit card | Illinois | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 8,482 | 8,585 | |
Credit card | New Jersey | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 6,345 | 6,506 | |
Credit card | Ohio | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,803 | 4,997 | |
Credit card | Pennsylvania | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,677 | 4,883 | |
Credit card | Colorado | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,090 | 4,006 | |
Credit card | Michigan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,710 | 3,826 | |
Credit card | All other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 57,440 | 57,980 | |
Credit card | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 145,271 | 146,704 | |
Credit card | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,323 | 1,305 | |
Credit card | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 1,262 | $ 1,378 |
Loans - Credit Card Portfolio -
Loans - Credit Card Portfolio - Impaired Loans (Details) - Credit card - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | $ 1,284 | $ 1,284 | $ 1,215 | ||
Allowance for loan losses related to impaired credit card loans | 421 | 421 | 383 | ||
Average impaired credit card loans | 1,267 | $ 1,205 | 1,245 | $ 1,215 | |
Interest income on impaired credit card loans | 17 | $ 15 | 48 | $ 44 | |
Credit card loans with modified payment terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 1,228 | 1,228 | 1,135 | ||
Modified credit card loans that have reverted to pre-modification payment terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 56 | 56 | 80 | ||
Noncompliance with Modified Terms | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | 26 | 26 | 43 | ||
Completion of Short Term Modification | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired credit card loans with an allowance | $ 30 | $ 30 | $ 37 |
Loans - Credit Card Portfolio_2
Loans - Credit Card Portfolio - Loan Modifications (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)payment | Sep. 30, 2017USD ($) | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||||
Number of years before payment default under a modified loan | 1 year | ||||
Credit card | |||||
Financing Receivable, Impaired [Line Items] | |||||
Fixed payment plan period | 60 months | ||||
New TDRs | $ 215 | $ 191 | $ 640 | $ 552 | |
Weighted-average interest rate of loans – before TDR | 18.25% | 16.84% | 17.82% | 16.52% | |
Weighted-average interest rate of loans – after TDR | 5.10% | 4.95% | 5.12% | 4.84% | |
Loans that redefaulted within one year of modification | $ 31 | $ 27 | $ 82 | $ 72 | |
Modified loans, payment default, number of payments past due | payment | 2 | ||||
Rate of default for modified loans, estimated weighted average | 32.78% | 31.54% | |||
New enrollments, percent of total retained credit card loans (less than) | 1.00% |
Loans - Wholesale Loan Portfoli
Loans - Wholesale Loan Portfolio - By Class of Receivable (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651 | $ 924,838 | $ 909,182 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 423,837 | $ 402,898 | $ 398,569 |
% of total criticized exposure to total retained loans | 1.27% | 1.71% | |
% of criticized nonaccrual to total retained loans | 0.23% | 0.43% | |
Wholesale | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 421,364 | $ 399,640 | |
Wholesale | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,426 | 1,383 | |
Wholesale | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 53 | 141 | |
Wholesale | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 102,927 | 95,379 | |
Wholesale | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 320,910 | 307,519 | |
Wholesale | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 324,343 | 311,681 | |
Wholesale | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 99,494 | 91,217 | |
Wholesale | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 94,114 | 84,321 | |
Wholesale | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 4,386 | 5,162 | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 994 | 1,734 | |
Wholesale | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 122,851 | $ 119,969 | |
% of total criticized exposure to total retained loans | 3.36% | 4.45% | |
% of criticized nonaccrual to total retained loans | 0.57% | 1.13% | |
Wholesale | Commercial and industrial | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 121,913 | $ 118,288 | |
Wholesale | Commercial and industrial | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 211 | 216 | |
Wholesale | Commercial and industrial | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 31 | 108 | |
Wholesale | Commercial and industrial | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 30,435 | 28,470 | |
Wholesale | Commercial and industrial | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 92,416 | 91,499 | |
Wholesale | Commercial and industrial | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 66,968 | 68,071 | |
Wholesale | Commercial and industrial | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 55,883 | 51,898 | |
Wholesale | Commercial and industrial | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 51,758 | 46,558 | |
Wholesale | Commercial and industrial | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3,429 | 3,983 | |
Wholesale | Commercial and industrial | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 696 | 1,357 | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 115,296 | $ 113,648 | |
% of total criticized exposure to total retained loans | 0.64% | 0.74% | |
% of criticized nonaccrual to total retained loans | 0.11% | 0.12% | |
Wholesale | Real estate | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 115,098 | $ 113,258 | |
Wholesale | Real estate | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 52 | 242 | |
Wholesale | Real estate | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 16 | 12 | |
Wholesale | Real estate | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,741 | 3,101 | |
Wholesale | Real estate | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 112,555 | 110,547 | |
Wholesale | Real estate | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 100,036 | 98,467 | |
Wholesale | Real estate | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 15,260 | 15,181 | |
Wholesale | Real estate | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,526 | 14,335 | |
Wholesale | Real estate | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 604 | 710 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 130 | 136 | |
Wholesale | Financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 45,712 | $ 40,074 | |
% of total criticized exposure to total retained loans | 0.32% | 0.53% | |
% of criticized nonaccrual to total retained loans | 0.00% | 0.00% | |
Wholesale | Financial institutions | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 45,671 | $ 40,042 | |
Wholesale | Financial institutions | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 38 | 15 | |
Wholesale | Financial institutions | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1 | 15 | |
Wholesale | Financial institutions | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 17,748 | 16,790 | |
Wholesale | Financial institutions | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 27,964 | 23,284 | |
Wholesale | Financial institutions | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 31,194 | 26,791 | |
Wholesale | Financial institutions | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,518 | 13,283 | |
Wholesale | Financial institutions | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,374 | 13,071 | |
Wholesale | Financial institutions | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 142 | 210 | |
Wholesale | Financial institutions | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2 | 2 | |
Wholesale | Government agencies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 14,603 | $ 15,509 | |
% of total criticized exposure to total retained loans | 0.00% | 0.00% | |
% of criticized nonaccrual to total retained loans | 0.00% | 0.00% | |
Wholesale | Government agencies | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 14,585 | $ 15,493 | |
Wholesale | Government agencies | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 15 | 12 | |
Wholesale | Government agencies | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 3 | 4 | |
Wholesale | Government agencies | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2,973 | 2,906 | |
Wholesale | Government agencies | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 11,630 | 12,603 | |
Wholesale | Government agencies | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 14,435 | 15,140 | |
Wholesale | Government agencies | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 168 | 369 | |
Wholesale | Government agencies | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 168 | 369 | |
Wholesale | Government agencies | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
Wholesale | Government agencies | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 0 | 0 | |
Wholesale | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 125,375 | $ 113,698 | |
% of total criticized exposure to total retained loans | 0.30% | 0.44% | |
% of criticized nonaccrual to total retained loans | 0.13% | 0.21% | |
Wholesale | Other | Current and less than 30 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 124,097 | $ 112,559 | |
Wholesale | Other | 30–89 days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 1,110 | 898 | |
Wholesale | Other | 90 or more days past due and still accruing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 2 | 2 | |
Wholesale | Other | Total non-U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 49,030 | 44,112 | |
Wholesale | Other | Total U.S. | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 76,345 | 69,586 | |
Wholesale | Other | Investment-grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 111,710 | 103,212 | |
Wholesale | Other | Total noninvestment- grade | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,665 | 10,486 | |
Wholesale | Other | Noncriticized | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 13,288 | 9,988 | |
Wholesale | Other | Criticized performing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 211 | 259 | |
Wholesale | Other | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 166 | $ 239 |
Loans - Wholesale Loan Portfo_2
Loans - Wholesale Loan Portfolio - Real Estate Class of Loans (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 947,651 | $ 924,838 | $ 909,182 |
Wholesale | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 423,837 | $ 402,898 | $ 398,569 |
% of total criticized exposure to total retained loans | 1.27% | 1.71% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.23% | 0.43% | |
Wholesale | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 994 | $ 1,734 | |
Wholesale | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 115,296 | $ 113,648 | |
% of total criticized exposure to total retained loans | 0.64% | 0.74% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.11% | 0.12% | |
Wholesale | Real estate | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 79,112 | $ 77,597 | |
% of total criticized exposure to total retained loans | 0.48% | 0.63% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.06% | 0.06% | |
Wholesale | Real estate | Other commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 36,184 | $ 36,051 | |
% of total criticized exposure to total retained loans | 0.97% | 0.98% | |
% of criticized nonaccrual loans to total real estate retained loans | 0.23% | 0.26% | |
Wholesale | Real estate | Criticized exposure | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 734 | $ 846 | |
Wholesale | Real estate | Criticized exposure | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 383 | 491 | |
Wholesale | Real estate | Criticized exposure | Other commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 351 | 355 | |
Wholesale | Real estate | Criticized nonaccrual | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 130 | 136 | |
Wholesale | Real estate | Criticized nonaccrual | Multifamily | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | 47 | 44 | |
Wholesale | Real estate | Criticized nonaccrual | Other commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Retained loans | $ 83 | $ 92 |
Loans - Wholesale Loan Portfo_3
Loans - Wholesale Loan Portfolio - Impaired Loans (Details) - Wholesale - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Impaired loans | |||||
With an allowance | $ 889 | $ 889 | $ 1,509 | ||
Without an allowance | 162 | 162 | 358 | ||
Total impaired loans | 1,051 | 1,051 | 1,867 | ||
Allowance for loan losses related to impaired loans | 280 | 280 | 461 | ||
Unpaid principal balance of impaired loans | 1,433 | 1,433 | 2,154 | ||
Average impaired credit card loans | 1,219 | $ 1,675 | 1,523 | $ 1,736 | |
Troubled debt restructuring | 517 | 517 | 614 | ||
Commercial and industrial | |||||
Impaired loans | |||||
With an allowance | 658 | 658 | 1,170 | ||
Without an allowance | 84 | 84 | 228 | ||
Total impaired loans | 742 | 742 | 1,398 | ||
Allowance for loan losses related to impaired loans | 243 | 243 | 404 | ||
Unpaid principal balance of impaired loans | 846 | 846 | 1,604 | ||
Average impaired credit card loans | 838 | 1,207 | 1,095 | 1,277 | |
Real estate | |||||
Impaired loans | |||||
With an allowance | 78 | 78 | 78 | ||
Without an allowance | 53 | 53 | 60 | ||
Total impaired loans | 131 | 131 | 138 | ||
Allowance for loan losses related to impaired loans | 15 | 15 | 11 | ||
Unpaid principal balance of impaired loans | 198 | 198 | 201 | ||
Average impaired credit card loans | 134 | 167 | 138 | 175 | |
Financial institutions | |||||
Impaired loans | |||||
With an allowance | 2 | 2 | 93 | ||
Without an allowance | 0 | 0 | 0 | ||
Total impaired loans | 2 | 2 | 93 | ||
Allowance for loan losses related to impaired loans | 1 | 1 | 4 | ||
Unpaid principal balance of impaired loans | 2 | 2 | 94 | ||
Average impaired credit card loans | 45 | 70 | 76 | 38 | |
Government agencies | |||||
Impaired loans | |||||
With an allowance | 0 | 0 | 0 | ||
Without an allowance | 0 | 0 | 0 | ||
Total impaired loans | 0 | 0 | 0 | ||
Allowance for loan losses related to impaired loans | 0 | 0 | 0 | ||
Unpaid principal balance of impaired loans | 0 | 0 | 0 | ||
Average impaired credit card loans | 0 | 0 | 0 | 0 | |
Other | |||||
Impaired loans | |||||
With an allowance | 151 | 151 | 168 | ||
Without an allowance | 25 | 25 | 70 | ||
Total impaired loans | 176 | 176 | 238 | ||
Allowance for loan losses related to impaired loans | 21 | 21 | 42 | ||
Unpaid principal balance of impaired loans | 387 | 387 | $ 255 | ||
Average impaired credit card loans | $ 202 | $ 231 | $ 214 | $ 246 |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | |
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | $ 151 | $ 66 | |||||
Provision for loan losses/lending-related commitments | $ 948 | $ 1,452 | 3,323 | 3,982 | |||
Loans by impairment methodology | |||||||
Asset-specific | $ 9,381 | $ 10,991 | |||||
Formula-based | 913,058 | 866,367 | |||||
PCI | 25,212 | 31,824 | |||||
Total retained loans | 947,651 | $ 924,838 | 909,182 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 252 | 764 | |||||
Formula-based | 1,048,422 | 999,053 | |||||
Total lending-related commitments | 1,048,674 | 991,482 | 999,817 | ||||
Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs | 15 | 77 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,335 | 2,448 | |||||
Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 13,604 | 13,776 | |||||
Gross charge-offs/Write-offs of PCI loans | 4,817 | 4,977 | |||||
Gross recoveries | (1,197) | (854) | |||||
Net charge-offs | 3,620 | 4,123 | |||||
Provision for loan losses/lending-related commitments | 3,294 | 3,951 | |||||
Other | 1 | 1 | |||||
Ending balance | 13,128 | 13,539 | 13,128 | 13,539 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Asset-specific | 905 | 1,010 | |||||
Formula-based | 10,399 | 10,284 | |||||
PCI | 1,824 | 2,245 | |||||
Total allowance for loan losses/lending-related commitments | 13,128 | 13,539 | 13,604 | 13,776 | 13,128 | 13,604 | 13,539 |
Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 1,068 | 1,078 | |||||
Provision for loan losses/lending-related commitments | 29 | 31 | |||||
Other | 0 | 0 | |||||
Ending balance | 1,097 | 1,109 | 1,097 | 1,109 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Allowance for lending-related commitments by impairment methodology, Asset-specific | 71 | 220 | |||||
Allowance for lending-related commitments by impairment methodology, Formula-based | 1,026 | 889 | |||||
Total allowance for loan losses/lending-related commitments | 1,097 | 1,109 | 1,068 | 1,078 | 1,097 | 1,068 | 1,109 |
Consumer, excluding credit card | |||||||
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 151 | 66 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 7,046 | 8,147 | |||||
Formula-based | 343,703 | 329,445 | |||||
PCI | 25,209 | 31,821 | |||||
Total retained loans | 375,958 | 372,553 | 369,413 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 50,630 | 52,796 | |||||
Total lending-related commitments | 50,630 | 52,796 | |||||
Consumer, excluding credit card | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs | 15 | 47 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 2,077 | 2,198 | |||||
Consumer, excluding credit card | Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 4,579 | 5,198 | |||||
Gross charge-offs/Write-offs of PCI loans | 776 | 1,479 | |||||
Gross recoveries | (681) | (478) | |||||
Net charge-offs | 95 | 1,001 | |||||
Provision for loan losses/lending-related commitments | (152) | 653 | |||||
Other | 1 | (2) | |||||
Ending balance | 4,182 | 4,782 | 4,182 | 4,782 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Asset-specific | 204 | 271 | |||||
Formula-based | 2,154 | 2,266 | |||||
PCI | 1,824 | 2,245 | |||||
Total allowance for loan losses/lending-related commitments | 4,182 | 4,782 | 4,579 | 5,198 | 4,182 | 4,579 | 4,782 |
Consumer, excluding credit card | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 33 | 26 | |||||
Provision for loan losses/lending-related commitments | 0 | 7 | |||||
Other | 0 | 0 | |||||
Ending balance | 33 | 33 | 33 | 33 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Allowance for lending-related commitments by impairment methodology, Asset-specific | 0 | 0 | |||||
Allowance for lending-related commitments by impairment methodology, Formula-based | 33 | 33 | |||||
Total allowance for loan losses/lending-related commitments | 33 | 33 | 33 | 26 | 33 | 33 | 33 |
Credit card | |||||||
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 1,284 | 1,206 | |||||
Formula-based | 146,572 | 139,994 | |||||
PCI | 0 | 0 | |||||
Total retained loans | 147,856 | 141,200 | |||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 0 | 0 | |||||
Formula-based | 600,728 | 574,641 | |||||
Total lending-related commitments | 600,728 | 574,641 | |||||
Credit card | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs | 0 | 0 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 0 | 0 | |||||
Credit card | Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 4,884 | 4,034 | |||||
Gross charge-offs/Write-offs of PCI loans | 3,777 | 3,344 | |||||
Gross recoveries | (370) | (295) | |||||
Net charge-offs | 3,407 | 3,049 | |||||
Provision for loan losses/lending-related commitments | 3,557 | 3,699 | |||||
Other | 0 | 0 | |||||
Ending balance | 5,034 | 4,684 | 5,034 | 4,684 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Asset-specific | 421 | 376 | |||||
Formula-based | 4,613 | 4,308 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses/lending-related commitments | 5,034 | 4,684 | 4,884 | 4,034 | 5,034 | 4,884 | 4,684 |
Credit card | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 0 | 0 | |||||
Provision for loan losses/lending-related commitments | 0 | 0 | |||||
Other | 0 | 0 | |||||
Ending balance | 0 | 0 | 0 | 0 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Allowance for lending-related commitments by impairment methodology, Asset-specific | 0 | 0 | |||||
Allowance for lending-related commitments by impairment methodology, Formula-based | 0 | 0 | |||||
Total allowance for loan losses/lending-related commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Wholesale | |||||||
Allowance for loan losses | |||||||
Gross charge-offs/Write-offs of PCI loans | 0 | 0 | |||||
Loans by impairment methodology | |||||||
Asset-specific | 1,051 | 1,638 | |||||
Formula-based | 422,783 | 396,928 | |||||
PCI | 3 | 3 | |||||
Total retained loans | 423,837 | 402,898 | 398,569 | ||||
Lending-related commitments by impairment methodology | |||||||
Asset-specific | 252 | 764 | |||||
Formula-based | 397,064 | 371,616 | |||||
Total lending-related commitments | 397,316 | 372,380 | |||||
Wholesale | Impaired collateral-dependent loans | |||||||
Allowance for loan losses | |||||||
Net charge-offs | 0 | 30 | |||||
Impaired collateral-dependent loans | |||||||
Loans measured at fair value of collateral less cost to sell | 258 | 250 | |||||
Wholesale | Allowance for loan losses | |||||||
Allowance for loan losses | |||||||
Beginning balance | 4,141 | 4,544 | |||||
Gross charge-offs/Write-offs of PCI loans | 264 | 154 | |||||
Gross recoveries | (146) | (81) | |||||
Net charge-offs | 118 | 73 | |||||
Provision for loan losses/lending-related commitments | (111) | (401) | |||||
Other | 0 | 3 | |||||
Ending balance | 3,912 | 4,073 | 3,912 | 4,073 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Asset-specific | 280 | 363 | |||||
Formula-based | 3,632 | 3,710 | |||||
PCI | 0 | 0 | |||||
Total allowance for loan losses/lending-related commitments | 3,912 | 4,073 | 4,141 | 4,544 | 3,912 | 4,141 | 4,073 |
Wholesale | Allowance for lending-related commitments | |||||||
Allowance for loan losses | |||||||
Beginning balance | 1,035 | 1,052 | |||||
Provision for loan losses/lending-related commitments | 29 | 24 | |||||
Other | 0 | 0 | |||||
Ending balance | 1,064 | 1,076 | 1,064 | 1,076 | |||
Allowance for loan losses/lending-related commitments by impairment methodology | |||||||
Allowance for lending-related commitments by impairment methodology, Asset-specific | 71 | 220 | |||||
Allowance for lending-related commitments by impairment methodology, Formula-based | 993 | 856 | |||||
Total allowance for loan losses/lending-related commitments | $ 1,064 | $ 1,076 | $ 1,035 | $ 1,052 | $ 1,064 | $ 1,035 | $ 1,076 |
Variable Interest Entities - Fi
Variable Interest Entities - Firm Sponsored VIEs (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | $ 185,362 | $ 182,763 |
Retained securitization interests, risk-rated 'A' or better, at fair value | 66.00% | 61.00% |
Corporate & Investment Bank | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Senior securities purchased in connection with CIB's secondary market-making activities | $ 75 | $ 88 |
Subordinated securities purchased in connection with CIB's secondary market-making activities | 111 | 48 |
Residential mortgage | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 1,300 | 1,300 |
Residential mortgage | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 34 | 48 |
Residential mortgage | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 65,481 | 68,874 |
Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 17,278 | 18,984 |
Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Total assets held by securitization VIEs | 102,603 | 94,905 |
Commercial and other | Investment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 1,200 | 1,600 |
Commercial and other | Noninvestment-grade | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Fair value of retained interests | 410 | 412 |
VIEs consolidated by the Firm | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 3,333 | 3,685 |
VIEs consolidated by the Firm | Residential mortgage | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 3,314 | 3,615 |
VIEs consolidated by the Firm | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 19 | 7 |
VIEs consolidated by the Firm | Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in consolidated securitization VIEs | 0 | 63 |
Nonconsolidated re-securitization VIEs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 145,358 | 133,303 |
Interest in securitized assets in nonconsolidated VIEs | 2,948 | 3,481 |
Nonconsolidated re-securitization VIEs | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 1,159 | 1,248 |
Nonconsolidated re-securitization VIEs | Investment securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 1,573 | 2,076 |
Nonconsolidated re-securitization VIEs | Other financial assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 216 | 157 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 51,914 | 52,280 |
Interest in securitized assets in nonconsolidated VIEs | 1,311 | 1,353 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 15,950 | 17,612 |
Interest in securitized assets in nonconsolidated VIEs | 55 | 93 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Trading assets | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 607 | 410 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Trading assets | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 55 | 93 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Investment securities | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 704 | 943 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Investment securities | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 0 | 0 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Other financial assets | Prime / Alt-A & option ARMs | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 0 | 0 |
Nonconsolidated re-securitization VIEs | Residential mortgage | Other financial assets | Subprime | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 0 | 0 |
Nonconsolidated re-securitization VIEs | Commercial and other | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Assets held in nonconsolidated securitization VIEs with continuing involvement | 77,494 | 63,411 |
Interest in securitized assets in nonconsolidated VIEs | 1,582 | 2,035 |
Nonconsolidated re-securitization VIEs | Commercial and other | Trading assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 497 | 745 |
Nonconsolidated re-securitization VIEs | Commercial and other | Investment securities | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | 869 | 1,133 |
Nonconsolidated re-securitization VIEs | Commercial and other | Other financial assets | ||
Firm-sponsored mortgage and other consumer securitization trusts | ||
Interest in securitized assets in nonconsolidated VIEs | $ 216 | $ 157 |
Variable Interest Entities - Re
Variable Interest Entities - Re-securitizations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Transfers of securities to VIEs | |||||
Agency | $ 2,540 | $ 1,477 | $ 11,321 | $ 6,163 | |
Variable Interest Entity [Line Items] | |||||
Assets held in VIEs with continuing involvement | 185,362 | 185,362 | $ 182,763 | ||
Firm-sponsored private-label | Nonconsolidated re-securitization VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Assets held in VIEs with continuing involvement | 198 | 198 | 783 | ||
Interest in VIEs | 10 | 10 | 29 | ||
Agency | Nonconsolidated re-securitization VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Interest in VIEs | $ 2,263 | $ 2,263 | $ 2,250 |
Variable Interest Entities - Mu
Variable Interest Entities - Multi-seller conduits (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Variable Interest Entity [Line Items] | |||
Unfunded lending-related commitments | $ 1,048,674 | $ 991,482 | $ 999,817 |
Multi-seller conduits | |||
Variable Interest Entity [Line Items] | |||
Commercial paper eliminated in consolidation | 18,700 | 20,400 | |
Multi-seller conduits | Commercial and other | |||
Variable Interest Entity [Line Items] | |||
Unfunded lending-related commitments | $ 9,200 | $ 8,800 |
Variable Interest Entities - Co
Variable Interest Entities - Consolidated VIE Assets and Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | |||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 419,827 | $ 381,844 | ||||
Loans | 947,651 | 924,838 | $ 909,182 | |||
Other | 115,936 | 113,587 | ||||
Total assets | 2,615,183 | [1] | 2,533,600 | [1] | $ 2,563,074 | |
Beneficial interests in VIE assets | 20,241 | 26,081 | ||||
Total liabilities | [1] | 2,356,227 | 2,277,907 | |||
VIEs consolidated by the Firm | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 1,567 | 1,449 | ||||
Loans | 57,114 | 68,995 | ||||
Other | 2,407 | 2,674 | ||||
Total assets | 61,088 | 73,118 | ||||
Beneficial interests in VIE assets | 20,241 | 26,081 | ||||
Other | 330 | 349 | ||||
Total liabilities | 20,571 | 26,430 | ||||
Beneficial interests in VIE assets, long term | 14,600 | 21,800 | ||||
VIEs consolidated by the Firm | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 1,567 | 1,449 | ||||
VIEs consolidated by the Firm | Firm-sponsored credit card trusts | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 30,949 | 41,923 | ||||
Other | 504 | 652 | ||||
Total assets | 31,453 | 42,575 | ||||
Beneficial interests in VIE assets | 14,142 | 21,278 | ||||
Other | 12 | 16 | ||||
Total liabilities | 14,154 | 21,294 | ||||
VIEs consolidated by the Firm | Firm-sponsored credit card trusts | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 0 | 0 | ||||
VIEs consolidated by the Firm | Firm-administered multi-seller conduits | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 22,797 | 23,411 | ||||
Other | 129 | 48 | ||||
Total assets | 22,927 | 23,459 | ||||
Beneficial interests in VIE assets | 4,304 | 3,045 | ||||
Other | 30 | 28 | ||||
Total liabilities | 4,334 | 3,073 | ||||
VIEs consolidated by the Firm | Firm-administered multi-seller conduits | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 1 | 0 | ||||
VIEs consolidated by the Firm | Municipal bond vehicles | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 0 | 0 | ||||
Other | 4 | 3 | ||||
Total assets | 1,374 | 1,281 | ||||
Beneficial interests in VIE assets | 1,344 | 1,265 | ||||
Other | 2 | 2 | ||||
Total liabilities | 1,346 | 1,267 | ||||
VIEs consolidated by the Firm | Municipal bond vehicles | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 1,370 | 1,278 | ||||
VIEs consolidated by the Firm | Mortgage securitization entities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 3,368 | 3,661 | ||||
Other | 37 | 55 | ||||
Total assets | 3,467 | 3,782 | ||||
Beneficial interests in VIE assets | 304 | 359 | ||||
Other | 171 | 199 | ||||
Total liabilities | 475 | 558 | ||||
VIEs consolidated by the Firm | Mortgage securitization entities | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | 62 | 66 | ||||
VIEs consolidated by the Firm | Other | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Loans | 0 | 0 | ||||
Other | 1,733 | 1,916 | ||||
Total assets | 1,867 | 2,021 | ||||
Beneficial interests in VIE assets | 147 | 134 | ||||
Other | 115 | 104 | ||||
Total liabilities | 262 | 238 | ||||
VIEs consolidated by the Firm | Other | Debt and equity securities | ||||||
Information on assets and liabilities related to VIEs that are consolidated by the Firm [Abstract] | ||||||
Trading assets | $ 134 | $ 105 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2018 , and December 31, 2017 . The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase . The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. For a further discussion, refer to Note 13 . (in millions) Sep 30, 2018 Dec 31, 2017 Assets Trading assets $ 1,567 $ 1,449 Loans 57,114 68,995 All other assets 2,407 2,674 Total assets $ 61,088 $ 73,118 Liabilities Beneficial interests issued by consolidated VIEs $ 20,241 $ 26,081 All other liabilities 330 349 Total liabilities $ 20,571 $ 26,430 |
Variable Interest Entities - VI
Variable Interest Entities - VIEs Sponsored by Third Parties (Details) - Nonconsolidated entities - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Tax credit vehicles | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure | $ 13,700 | $ 13,400 |
Unfunded commitments | 3,200 | 3,200 |
Municipal bond vehicles | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure | 5,000 | 5,300 |
Fair value of assets held by VIE | $ 8,000 | $ 9.2 |
Variable Interest Entities - Se
Variable Interest Entities - Securitization Activity (Details) - Securitization entities not consolidated - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Residential mortgage | ||||
Securitization activity [Abstract] | ||||
Principal securitized | $ 1,513 | $ 1,017 | $ 5,972 | $ 3,066 |
All cash flows during the period: | ||||
Proceeds received from loan sales as financial instruments | 1,524 | 1,053 | 5,984 | 3,136 |
Servicing fees collected | 43 | 49 | 134 | 151 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 1 |
Cash flows received on interests | 99 | 125 | 328 | 384 |
Commercial and other | ||||
Securitization activity [Abstract] | ||||
Principal securitized | 3,533 | 4,411 | 8,705 | 7,723 |
All cash flows during the period: | ||||
Proceeds received from loan sales as financial instruments | 3,558 | 4,419 | 8,745 | 7,796 |
Servicing fees collected | 1 | 1 | 1 | 3 |
Purchases of previously transferred financial assets (or the underlying collateral) | 0 | 0 | 0 | 0 |
Cash flows received on interests | $ 99 | $ 287 | $ 230 | $ 828 |
Variable Interest Entities - Lo
Variable Interest Entities - Loans Sold to Third-Party Sponsored Securitization Entities (Details) - Nonconsolidated entities - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Summary of loan sale activities [Abstract] | ||||
Carrying value of loans sold | $ 11,968 | $ 15,402 | $ 28,804 | $ 44,282 |
Proceeds received from loan sales as cash | 1 | 104 | 1 | 117 |
Proceeds from loans sales as securities | 11,713 | 15,093 | 28,291 | 43,682 |
Total proceeds received from loan sales | 11,714 | 15,197 | 28,292 | 43,799 |
Gains on loan sales | $ 9 | $ 41 | $ 32 | $ 114 |
Variable Interest Entities - Sc
Variable Interest Entities - Schedule of Options to Repurchase Delinquent Loans (Details) - Nonconsolidated entities - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Variable Interest Entity [Line Items] | ||
Loans repurchased or option to repurchase | $ 7,207 | $ 8,629 |
Real estate acquired through foreclosure | 78 | 95 |
Residential mortgage | ||
Variable Interest Entity [Line Items] | ||
Real estate acquired through foreclosure | $ 404 | $ 527 |
Variable Interest Entities - _2
Variable Interest Entities - Loan Delinquencies and Net Charge-offs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Securitized loans | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | $ 6,775 | $ 6,775 | $ 9,103 | ||
Net liquidation losses | 408 | $ 339 | 265 | $ 1,210 | |
Securitized loans | Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 526 | 526 | 957 | ||
Net liquidation losses | 71 | 2 | 119 | 59 | |
Nonconsolidated entities | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 145,358 | 145,358 | 133,303 | ||
Nonconsolidated entities | Commercial and other | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 77,494 | 77,494 | 63,411 | ||
Prime / Alt-A & option ARMs | Securitized loans | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 3,612 | 3,612 | 4,870 | ||
Net liquidation losses | 182 | 184 | 453 | 622 | |
Prime / Alt-A & option ARMs | Nonconsolidated entities | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | 51,914 | 51,914 | 52,280 | ||
Subprime | Securitized loans | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
90 days past due | 2,637 | 2,637 | 3,276 | ||
Net liquidation losses | 155 | $ 153 | (307) | $ 529 | |
Subprime | Nonconsolidated entities | Residential mortgage | |||||
Information about delinquencies, net charge-offs, and components of off-balance sheet securitized financial assets [Abstract] | |||||
Securitized assets | $ 15,950 | $ 15,950 | $ 17,612 |
Goodwill and Mortgage Servici_3
Goodwill and Mortgage Servicing Rights - by Business Segment (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Goodwill [Line Items] | ||||||
Total goodwill | $ 47,483 | $ 47,488 | $ 47,507 | $ 47,309 | $ 47,300 | $ 47,288 |
Consumer & Community Banking | ||||||
Goodwill [Line Items] | ||||||
Total goodwill | 30,995 | 31,013 | ||||
Corporate & Investment Bank | ||||||
Goodwill [Line Items] | ||||||
Total goodwill | 6,771 | 6,776 | ||||
Commercial Banking | ||||||
Goodwill [Line Items] | ||||||
Total goodwill | 2,860 | 2,860 | ||||
Asset & Wealth Management | ||||||
Goodwill [Line Items] | ||||||
Total goodwill | $ 6,857 | $ 6,858 |
Goodwill and Mortgage Servici_4
Goodwill and Mortgage Servicing Rights - Changes During Period (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Goodwill [Roll Forward] | ||||
Balance at beginning of period | $ 47,488 | $ 47,300 | $ 47,507 | $ 47,288 |
Changes during the period from: | ||||
Other | (5) | 9 | (24) | 21 |
Balance at end of period | $ 47,483 | $ 47,309 | $ 47,483 | $ 47,309 |
Goodwill and Mortgage Servici_5
Goodwill and Mortgage Servicing Rights - Mortgage Servicing Rights (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Mortgage servicing rights activity [Abstract] | ||||
Fair value at beginning of period | $ 6,241 | $ 5,753 | $ 6,030 | $ 6,096 |
MSR activity: | ||||
Originations of MSRs | 278 | 253 | 611 | 624 |
Purchase of MSRs | 13 | 0 | 159 | 0 |
Disposition of MSRs | (2) | (2) | (401) | (140) |
Net additions/(dispositions) | 289 | 251 | 369 | 484 |
Changes due to collection/realization of expected cash flows | (195) | (200) | (542) | (619) |
Changes in valuation due to inputs and assumptions: | ||||
Changes due to market interest rates and other | 150 | (67) | 635 | (188) |
Changes in valuation due to other inputs and assumptions: | ||||
Projected cash flows (e.g., cost to service) | 14 | (116) | 14 | (102) |
Discount rates | 0 | 0 | 24 | (19) |
Prepayment model changes and other | (66) | 117 | (97) | 86 |
Total changes in valuation due to other inputs and assumptions | (52) | 1 | (59) | (35) |
Total changes in valuation due to inputs and assumptions | 98 | (66) | 576 | (223) |
Fair value at end of period | 6,433 | 5,738 | 6,433 | 5,738 |
Change in unrealized gains/(losses) included in income related to MSRs | 98 | (66) | 576 | (223) |
Contractual service fees, late fees and other ancillary fees included in income | 428 | 463 | 1,339 | 1,427 |
Third-party mortgage loans serviced | 528,000 | 558,000 | 528,000 | 558,000 |
Net servicer advances | $ 3,100 | $ 3,900 | $ 3,100 | $ 3,900 |
Goodwill and Mortgage Servici_6
Goodwill and Mortgage Servicing Rights - Mortgage Fees and Related Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Risk management: | ||||
All other | $ 2 | $ 1 | $ 2 | $ 4 |
Mortgage fees and related income | 262 | 429 | 1,051 | 1,239 |
Consumer & Community Banking | ||||
CCB mortgage fees and related income | ||||
Net production revenue | 108 | 158 | 296 | 451 |
Operating revenue: | ||||
Loan servicing revenue | 435 | 493 | 1,389 | 1,533 |
Changes in MSR asset fair value due to collection/realization of expected cash flows | (195) | (200) | (542) | (617) |
Total operating revenue | 240 | 293 | 847 | 916 |
Risk management: | ||||
Changes in MSR asset fair value due to market interest rates and other | 150 | (67) | 636 | (188) |
Other changes in MSR asset fair value due to other inputs and assumptions in model | (52) | 1 | (59) | (35) |
Change in derivative fair value and other | (186) | 43 | (671) | 91 |
Total risk management | (88) | (23) | (94) | (132) |
Total net mortgage servicing revenue | 152 | 270 | 753 | 784 |
Mortgage fees and related income | $ 260 | $ 428 | $ 1,049 | $ 1,235 |
Goodwill and Mortgage Servici_7
Goodwill and Mortgage Servicing Rights - Key Economic Assumptions (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Weighted-average prepayment speed assumption (“CPR”) | 8.40% | 9.35% |
Impact on fair value of 10% adverse change | $ (194) | $ (221) |
Impact on fair value of 20% adverse change | $ (376) | $ (427) |
Weighted-average option adjusted spread | 8.65% | 9.04% |
Impact on fair value of a 100 basis point adverse change | $ (251) | $ (250) |
Impact on fair value of a 200 basis point adverse change | $ (483) | $ (481) |
Deposits - Noninterest and Inte
Deposits - Noninterest and Interest-bearing (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
U.S. offices | ||
Noninterest-bearing | $ 374,603 | $ 393,645 |
Interest-bearing (included $16,526 and $14,947 at fair value) | 814,988 | 793,618 |
Total deposits in U.S. offices | 1,189,591 | 1,187,263 |
Non-U.S. offices | ||
Noninterest-bearing | 19,127 | 15,576 |
Interest-bearing (included $3,974 and $6,374 at fair value) | 250,044 | 241,143 |
Total deposits in non-U.S. offices | 269,171 | 256,719 |
Total deposits | 1,458,762 | 1,443,982 |
Fair value | ||
U.S. offices | ||
Interest-bearing, fair value | 16,526 | 14,947 |
Non-U.S. offices | ||
Interest-bearing, fair value | $ 3,974 | $ 6,374 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Basic earnings per share | ||||
Net income | $ 8,380 | $ 6,732 | $ 25,408 | $ 20,209 |
Less: Preferred stock dividends | 379 | 412 | 1,167 | 1,235 |
Net income applicable to common equity | 8,001 | 6,320 | 24,241 | 18,974 |
Less: Dividends and undistributed earnings allocated to participating securities | 53 | 58 | 174 | 188 |
Net income applicable to common stockholders | $ 7,948 | $ 6,262 | $ 24,067 | $ 18,786 |
Total weighted-average basic shares outstanding (in shares) | 3,376.1 | 3,534.7 | 3,416.5 | 3,570.9 |
Net income per share (in dollars per share) | $ 2.35 | $ 1.77 | $ 7.04 | $ 5.26 |
Diluted earnings per share | ||||
Net income applicable to common stockholders | $ 7,948 | $ 6,262 | $ 24,067 | $ 18,786 |
Total weighted-average basic shares outstanding (in shares) | 3,376.1 | 3,534.7 | 3,416.5 | 3,570.9 |
Add: Employee stock options, SARs, warrants and unvested PSUs (in shares) | 18.2 | 24.9 | 19.7 | 26.1 |
Total weighted-average diluted shares outstanding (in shares) | 3,394.3 | 3,559.6 | 3,436.2 | 3,597 |
Net income per share (in dollars per share) | $ 2.34 | $ 1.76 | $ 7 | $ 5.22 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income/(Loss) - Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | $ 255,693 | |||||
Net change | $ (1,287) | $ 83 | (2,394) | $ 866 | ||
Ending balance | 258,956 | 258,382 | 258,956 | 258,382 | ||
Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | $ 261 | |||||
Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 115 | |||||
Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | (288) | |||||
Unrealized gains/(losses) on investment securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | 1,599 | 2,219 | 2,164 | 1,524 | ||
Net change | (819) | 147 | (2,280) | 842 | ||
Ending balance | 780 | 2,366 | 780 | 2,366 | ||
Unrealized gains/(losses) on investment securities | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 261 | |||||
Unrealized gains/(losses) on investment securities | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 169 | |||||
Unrealized gains/(losses) on investment securities | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 466 | |||||
Translation adjustments, net of hedges | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (632) | (157) | (470) | (164) | ||
Net change | (31) | 0 | 84 | 7 | ||
Ending balance | (663) | (157) | (663) | (157) | ||
Translation adjustments, net of hedges | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Translation adjustments, net of hedges | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Translation adjustments, net of hedges | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | (277) | |||||
Fair value hedges | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (162) | 0 | ||||
Net change | 34 | (74) | ||||
Ending balance | (128) | (128) | ||||
Fair value hedges | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Fair value hedges | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | (54) | |||||
Fair value hedges | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Cash flow hedges | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (147) | 44 | 76 | (100) | ||
Net change | (88) | 26 | (327) | 170 | ||
Ending balance | (235) | 70 | (235) | 70 | ||
Cash flow hedges | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Cash flow hedges | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Cash flow hedges | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 16 | |||||
Defined benefit pension and OPEB plans | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (1,876) | (2,255) | (1,521) | (2,259) | ||
Net change | 19 | 22 | 78 | 26 | ||
Ending balance | (1,857) | (2,233) | (1,857) | (2,233) | ||
Defined benefit pension and OPEB plans | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Defined benefit pension and OPEB plans | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
Defined benefit pension and OPEB plans | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | (414) | |||||
DVA on fair value option elected liabilities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | 80 | (243) | (368) | (176) | ||
Net change | (402) | (112) | 125 | (179) | ||
Ending balance | (322) | (355) | (322) | (355) | ||
DVA on fair value option elected liabilities | Premium amortization on purchased callable debt securities | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
DVA on fair value option elected liabilities | Hedge accounting | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | 0 | |||||
DVA on fair value option elected liabilities | Reclassification of certain tax effects from AOCI | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Cumulative effect of changes in accounting principles | (79) | |||||
Accumulated other comprehensive income/(loss) | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning balance | (1,138) | (392) | (119) | (1,175) | ||
Cumulative effect of changes in accounting principles | $ 88 | $ 0 | ||||
Net change | (2,394) | 866 | ||||
Ending balance | $ (2,425) | $ (309) | $ (2,425) | $ (309) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Unrealized gains/(losses) on investment securities: | ||||
Net change, Pre-tax | $ (1,643) | $ 129 | $ (3,069) | $ 1,398 |
Net change, Tax effect | 356 | (46) | 675 | (532) |
Total other comprehensive income/(loss), after–tax | (1,287) | 83 | (2,394) | 866 |
Accumulated other comprehensive income/(loss) | ||||
Unrealized gains/(losses) on investment securities: | ||||
Total other comprehensive income/(loss), after–tax | (2,394) | 866 | ||
Net pre-tax loss reclassified to other expense related to liquidation of legal entity | 174 | 25 | ||
Unrealized gains/(losses) on investment securities | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net unrealized gains/(losses) arising during the period/Translation, Pre-tax | (1,117) | 232 | (3,351) | 1,294 |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 262 | (86) | 787 | (476) |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | (855) | 146 | (2,564) | 818 |
Reclassification, Pre-tax | 46 | 1 | 371 | 38 |
Reclassification, Tax effect | (10) | 0 | (87) | (14) |
Reclassifications, After-tax | 36 | 1 | 284 | 24 |
Net change, Pre-tax | (1,071) | 233 | (2,980) | 1,332 |
Net change, Tax effect | 252 | (86) | 700 | (490) |
Total other comprehensive income/(loss), after–tax | (819) | 147 | (2,280) | 842 |
Net pre-tax loss reclassified to other expense related to liquidation of legal entity | 23 | 47 | ||
Translation adjustments | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net unrealized gains/(losses) arising during the period/Translation, Pre-tax | (314) | 286 | (981) | 1,185 |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 45 | (106) | 188 | (448) |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | (269) | 180 | (793) | 737 |
Reclassification, Pre-tax | 311 | (286) | 1,149 | (1,161) |
Reclassification, Tax effect | (73) | 106 | (272) | 431 |
Reclassifications, After-tax | 238 | (180) | 877 | (730) |
Net change, Pre-tax | (3) | 0 | 168 | 24 |
Net change, Tax effect | (28) | 0 | (84) | (17) |
Total other comprehensive income/(loss), after–tax | (31) | 0 | 84 | 7 |
Net pre-tax loss reclassified to other expense related to liquidation of legal entity | 151 | 72 | ||
Fair value hedges | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net change, Pre-tax | 45 | (96) | ||
Net change, Tax effect | (11) | 22 | ||
Total other comprehensive income/(loss), after–tax | 34 | (74) | ||
Cash flow hedges | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net unrealized gains/(losses) arising during the period/Translation, Pre-tax | (122) | 29 | (365) | 111 |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 27 | (11) | 85 | (42) |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | (95) | 18 | (280) | 69 |
Reclassification, Pre-tax | 9 | 10 | (62) | 160 |
Reclassification, Tax effect | (2) | (2) | 15 | (59) |
Reclassifications, After-tax | 7 | 8 | (47) | 101 |
Net change, Pre-tax | (113) | 39 | (427) | 271 |
Net change, Tax effect | 25 | (13) | 100 | (101) |
Total other comprehensive income/(loss), after–tax | (88) | 26 | (327) | 170 |
Defined benefit pension and OPEB plans | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net change, Pre-tax | 26 | 35 | 103 | 54 |
Net change, Tax effect | (7) | (13) | (25) | (28) |
Total other comprehensive income/(loss), after–tax | 19 | 22 | 78 | 26 |
Net gain/(losses)/Amortization of net loss | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net unrealized gains/(losses) arising during the period/Translation, Pre-tax | 0 | 0 | 25 | (52) |
Net unrealized gains/(losses) arising during the period/Translation, Tax effect | 0 | 0 | (6) | 19 |
Net unrealized gains/(losses) arising during the period/Translation, After-tax | 0 | 0 | 19 | (33) |
Reclassification, Pre-tax | 26 | 63 | 78 | 187 |
Reclassification, Tax effect | (6) | (23) | (18) | (69) |
Reclassifications, After-tax | 20 | 40 | 60 | 118 |
Prior service costs/(credits) | ||||
Unrealized gains/(losses) on investment securities: | ||||
Reclassification, Pre-tax | (7) | (9) | (19) | (27) |
Reclassification, Tax effect | 2 | 3 | 5 | 10 |
Reclassifications, After-tax | (5) | (6) | (14) | (17) |
Settlement (gain)/loss | ||||
Unrealized gains/(losses) on investment securities: | ||||
Reclassification, Pre-tax | 0 | (3) | ||
Reclassification, Tax effect | 0 | 1 | ||
Reclassifications, After-tax | 0 | (2) | ||
Foreign exchange and other | ||||
Unrealized gains/(losses) on investment securities: | ||||
Reclassification, Pre-tax | 7 | (19) | 19 | (51) |
Reclassification, Tax effect | (3) | 7 | (6) | 11 |
Reclassifications, After-tax | 4 | (12) | 13 | (40) |
DVA on fair value option elected liabilities, net change | ||||
Unrealized gains/(losses) on investment securities: | ||||
Net change, Pre-tax | (527) | (178) | 163 | (283) |
Net change, Tax effect | 125 | 66 | (38) | 104 |
Total other comprehensive income/(loss), after–tax | $ (402) | $ (112) | $ 125 | $ (179) |
Restricted Cash and Other Res_3
Restricted Cash and Other Restricted Assets (Details) - USD ($) $ in Billions | Sep. 30, 2018 | Dec. 31, 2017 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | $ 42.2 | $ 45.8 |
Cash and securities pledged with clearing organizations for the benefit of customers | 18.8 | 18 |
Fair value of securities restricted in relation to customer activity | 2.2 | 3.5 |
Deposits with banks | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | 40.7 | 44.8 |
Cash and due from banks | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | 1.5 | 1 |
Cash reserves – Federal Reserve Banks | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | 23.6 | 25.7 |
Segregated for the benefit of securities and futures brokerage customers | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | 15.3 | 16.8 |
Cash reserves at non-U.S. central banks and held for other general purposes | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Total restricted cash | $ 3.3 | $ 3.3 |
Regulatory Capital (Details)
Regulatory Capital (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Basel III Standardized Transitional | JPMorgan Chase & Co. | ||
Regulatory capital | ||
CET1 capital | $ 184,972 | $ 183,300 |
Tier 1 capital | 210,589 | 208,644 |
Total capital | 238,303 | 238,395 |
Assets | ||
Risk-weighted | 1,545,326 | 1,499,506 |
Adjusted average | $ 2,552,612 | $ 2,514,270 |
Capital ratios | ||
CET1 | 12.00% | 12.20% |
Tier 1 | 13.60% | 13.90% |
Total | 15.40% | 15.90% |
Tier 1 leverage | 8.20% | 8.30% |
Basel III Advanced Transitional | JPMorgan Chase & Co. | ||
Regulatory capital | ||
CET1 capital | $ 184,972 | $ 183,300 |
Tier 1 capital | 210,589 | 208,644 |
Total capital | 228,574 | 227,933 |
Assets | ||
Risk-weighted | 1,438,529 | 1,435,825 |
Adjusted average | $ 2,552,612 | $ 2,514,270 |
Capital ratios | ||
CET1 | 12.90% | 12.80% |
Tier 1 | 14.60% | 14.50% |
Total | 15.90% | 15.90% |
Tier 1 leverage | 8.20% | 8.30% |
Total leverage exposure | $ 3,204,463 | |
SLR | 6.50% | |
Basel III Advanced Fully Phased-In | JPMorgan Chase & Co. | ||
Capital ratios | ||
Total leverage exposure | $ 3,235,518 | |
SLR | 6.50% | |
Bank Holding Companies | Basel III | ||
Minimum capital ratios | ||
CET1 | 9.00% | 7.50% |
Tier 1 | 10.50% | 9.00% |
Total | 12.50% | 11.00% |
Tier 1 leverage | 4.00% | 4.00% |
SLR | 5.00% | |
Well-capitalized ratios | ||
CET1 | 0.00% | |
Tier 1 | 6.00% | |
Total | 10.00% | |
Tier 1 leverage | 5.00% | |
SLR | 0.00% | |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ||
Capital conservation buffer phase-in amount | 1.875% | |
Capital conservation buffer | 2.50% | |
GSIB surcharge phase-in amount | 2.625% | |
GSIB surcharge | 3.50% | |
SLR, minimum requirement | 3.00% | |
SLR, supplementary leverage buffer | 2.00% | |
Insured Depository Institutions | Basel III | ||
Minimum capital ratios | ||
CET1 | 6.375% | 5.75% |
Tier 1 | 7.875% | 7.25% |
Total | 9.875% | 9.25% |
Tier 1 leverage | 4.00% | 4.00% |
SLR | 6.00% | |
Well-capitalized ratios | ||
CET1 | 6.50% | |
Tier 1 | 8.00% | |
Total | 10.00% | |
Tier 1 leverage | 5.00% | |
SLR | 6.00% | |
Adjustments to Capital for Deferred Tax Liabilities [Abstract] | ||
Capital conservation buffer | 2.50% | |
SLR, minimum requirement | 3.00% | |
SLR, supplementary leverage buffer | 3.00% | |
JPMorgan Chase Bank, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | $ 188,608 | $ 184,375 |
Tier 1 capital | 188,608 | 184,375 |
Total capital | 199,634 | 195,839 |
Assets | ||
Risk-weighted | 1,362,039 | 1,338,970 |
Adjusted average | $ 2,141,332 | $ 2,116,031 |
Capital ratios | ||
CET1 | 13.80% | 13.80% |
Tier 1 | 13.80% | 13.80% |
Total | 14.70% | 14.60% |
Tier 1 leverage | 8.80% | 8.70% |
JPMorgan Chase Bank, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 188,608 | $ 184,375 |
Tier 1 capital | 188,608 | 184,375 |
Total capital | 193,613 | 189,510 |
Assets | ||
Risk-weighted | 1,211,473 | 1,241,916 |
Adjusted average | $ 2,141,332 | $ 2,116,031 |
Capital ratios | ||
CET1 | 15.60% | 14.80% |
Tier 1 | 15.60% | 14.80% |
Total | 16.00% | 15.30% |
Tier 1 leverage | 8.80% | 8.70% |
Total leverage exposure | $ 2,775,041 | |
SLR | 6.60% | |
JPMorgan Chase Bank, N.A. | Basel III Advanced Fully Phased-In | ||
Capital ratios | ||
Total leverage exposure | $ 2,765,905 | |
SLR | 6.80% | |
Chase Bank USA, N.A. | Basel III Standardized Transitional | ||
Regulatory capital | ||
CET1 capital | $ 23,136 | $ 21,600 |
Tier 1 capital | 23,136 | 21,600 |
Total capital | 28,026 | 27,691 |
Assets | ||
Risk-weighted | 109,138 | 113,108 |
Adjusted average | $ 116,411 | $ 126,517 |
Capital ratios | ||
CET1 | 21.20% | 19.10% |
Tier 1 | 21.20% | 19.10% |
Total | 25.70% | 24.50% |
Tier 1 leverage | 19.90% | 17.10% |
Chase Bank USA, N.A. | Basel III Advanced Transitional | ||
Regulatory capital | ||
CET1 capital | $ 23,136 | $ 21,600 |
Tier 1 capital | 23,136 | 21,600 |
Total capital | 26,636 | 26,250 |
Assets | ||
Risk-weighted | 182,177 | 190,523 |
Adjusted average | $ 116,411 | $ 126,517 |
Capital ratios | ||
CET1 | 12.70% | 11.30% |
Tier 1 | 12.70% | 11.30% |
Total | 14.60% | 13.80% |
Tier 1 leverage | 19.90% | 17.10% |
Total leverage exposure | $ 182,803 | |
SLR | 11.80% | |
Chase Bank USA, N.A. | Basel III Advanced Fully Phased-In | ||
Capital ratios | ||
Total leverage exposure | $ 175,153 | |
SLR | 13.20% |
Off-balance Sheet Lending-rel_3
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | $ 1,048,674 | $ 991,482 | $ 999,817 |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 720,969 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 141,283 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 155,558 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 30,864 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 1,511 | 1,512 | |
Maximum | |||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Secured clearance advance facility maximum outstanding commitment | 1,500 | ||
Wholesale | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 397,316 | $ 372,380 | |
Warranty Reserves | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan sale and securitization-related indemnifications, Mortgage repurchase liability, Carrying value | 89 | 111 | |
Total Consumer | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 651,358 | 621,384 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 628,637 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 3,187 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 2,004 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 17,530 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 33 | 33 | |
Total consumer, excluding credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 50,630 | 48,553 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 27,909 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 3,187 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 2,004 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 17,530 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 33 | 33 | |
Home equity | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 20,661 | 20,360 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 916 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 1,110 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 1,693 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 16,942 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 12 | 12 | |
Residential mortgage | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 6,967 | 5,736 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 6,955 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 12 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Auto | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 9,630 | 9,255 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 7,911 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 1,430 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 200 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 89 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 2 | 2 | |
Consumer & Business Banking | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 13,372 | 13,202 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 12,127 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 647 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 111 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 487 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 19 | 19 | |
Credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 600,728 | 572,831 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 600,728 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 0 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 0 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 0 | 0 | |
Total wholesale | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 397,316 | 370,098 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 92,332 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 138,096 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 153,554 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 13,334 | ||
Off-balance sheet lending-related financial commitments, Carrying value | $ 1,478 | $ 1,479 | |
Total wholesale | Wholesale | U.S. | |||
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Off balance sheet lending related financial commitments, percent | 76.00% | 76.00% | |
Other unfunded commitments to extend credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | $ 361,985 | $ 331,160 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 74,427 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 128,149 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 148,414 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 10,995 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 886 | 840 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for other unfunded commitments to extend credit | 287 | 334 | |
Standby letters of credit and other financial guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 31,748 | 35,226 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 14,561 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 9,810 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 5,038 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 2,339 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 585 | 636 | |
Other guarantees and commitments, Carrying value | 414 | 444 | |
Loan sale and securitization-related indemnifications, Mortgage repurchase liability, Carrying value | 171 | 192 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for standby letters of credit and other financial guarantees | 9,900 | 10,400 | |
Other letters of credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Total lending-related commitments | 3,583 | 3,712 | |
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring in 1 year or less | 3,344 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 1 year through 3 years | 137 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 3 years through 5 years | 102 | ||
Off-balance sheet lending-related financial commitments, Contractual amount, Expiring after 5 years | 0 | ||
Off-balance sheet lending-related financial commitments, Carrying value | 7 | 3 | |
Other guarantees and commitments, Carrying value | 0 | 0 | |
Loan sale and securitization-related indemnifications, Mortgage repurchase liability, Carrying value | 7 | 3 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Risk participations for other letters of credit | 469 | 405 | |
Securities lending indemnification agreements and guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 202,622 | 179,490 | |
Other guarantees and commitments, Contractual amount, Expiring in 1 year or less | 202,622 | ||
Other guarantees and commitments, Contractual amount, Expiring after 1 year through 3 years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring after 3 years through 5 years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring after 5 years | 0 | ||
Other guarantees and commitments, Carrying value | 0 | 0 | |
Off balance sheet lending related financial instruments guarantees and other commitments - supplemental information [Abstract] | |||
Indemnification agreement securities lending guarantees collateral held in support of | 214,300 | 188,700 | |
Derivatives qualifying as guarantees | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 55,894 | 57,174 | |
Other guarantees and commitments, Contractual amount, Expiring in 1 year or less | 2,800 | ||
Other guarantees and commitments, Contractual amount, Expiring after 1 year through 3 years | 361 | ||
Other guarantees and commitments, Contractual amount, Expiring after 3 years through 5 years | 12,384 | ||
Other guarantees and commitments, Contractual amount, Expiring after 5 years | 40,349 | ||
Other guarantees and commitments, Carrying value | 370 | 304 | |
Unsettled reverse repurchase and securities borrowing agreements | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 119,762 | 76,859 | |
Other guarantees and commitments, Contractual amount, Expiring in 1 year or less | 119,762 | ||
Other guarantees and commitments, Contractual amount, Expiring after 1 year through 3 years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring after 3 years through 5 years | 0 | ||
Other guarantees and commitments, Contractual amount, Expiring after 5 years | 0 | ||
Other guarantees and commitments, Carrying value | 0 | 0 | |
Unsettled repurchase and securities lending agreements | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 92,115 | 44,205 | |
Other guarantees and commitments, Contractual amount, Expiring in 1 year or less | 92,115 | ||
Other guarantees and commitments, Carrying value | 0 | 0 | |
Loans sold with recourse | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Loan sale and securitization-related indemnifications, Loans sold with recourse, Contractual amount | 1,066 | 1,169 | |
Loan sale and securitization-related indemnifications, Loans sold with recourse, Carrying value | 33 | 38 | |
Other guarantees and commitments | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Other guarantees and commitments, Contractual amount | 14,559 | 11,867 | |
Other guarantees and commitments, Contractual amount, Expiring in 1 year or less | 10,091 | ||
Other guarantees and commitments, Contractual amount, Expiring after 1 year through 3 years | 1,443 | ||
Other guarantees and commitments, Contractual amount, Expiring after 3 years through 5 years | 384 | ||
Other guarantees and commitments, Contractual amount, Expiring after 5 years | 2,641 | ||
Other guarantees and commitments, Carrying Value | $ (53) | $ (76) | |
Days Past Due, 60 or More | Credit card | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Line of credit close criteria, period past due | 60 days |
Off-balance Sheet Lending-rel_4
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments - Standby Letters of Credit and Other Financial Guarantees (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Total lending-related commitments | $ 1,048,674 | $ 991,482 | $ 999,817 |
Total carrying value | 1,511 | 1,512 | |
Standby letters of credit and other financial guarantees | |||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Investment-grade | 25,038 | 28,492 | |
Noninvestment-grade | 6,710 | 6,734 | |
Total lending-related commitments | 31,748 | 35,226 | |
Allowance for lending-related commitments | 171 | 192 | |
Guarantee liability | 414 | 444 | |
Total carrying value | 585 | 636 | |
Commitments with collateral | 16,074 | 17,421 | |
Other letters of credit | |||
Standby letters of credit and other financial guarantees and other letters of credit [Abstract] | |||
Investment-grade | 2,507 | 2,646 | |
Noninvestment-grade | 1,076 | 1,066 | |
Total lending-related commitments | 3,583 | 3,712 | |
Allowance for lending-related commitments | 7 | 3 | |
Guarantee liability | 0 | 0 | |
Total carrying value | 7 | 3 | |
Commitments with collateral | $ 559 | $ 878 |
Off-balance Sheet Lending-rel_5
Off-balance Sheet Lending-related Financial Instruments, Guarantees, and Other Commitments - Schedule of Derivatives Qualifying as Guarantees (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Notional amounts | ||
Stable value contracts with contractually limited exposure | $ 58,980,000 | $ 48,386,000 |
Derivatives qualifying as guarantees | ||
Notional amounts | ||
Derivative guarantees | 55,894 | 57,174 |
Stable value contracts with contractually limited exposure | 28,574 | 29,104 |
Maximum exposure of stable value contracts with contractually limited exposure | 2,954 | 3,053 |
Fair value | ||
Derivative payables | 370 | 304 |
Derivative receivables | $ 0 | $ 0 |
Pledged Assets and Collateral -
Pledged Assets and Collateral - Schedule of Pledged Assets (Details) - USD ($) $ in Billions | Sep. 30, 2018 | Dec. 31, 2017 |
Pledged assets and Collateral | ||
Assets that may be sold or repledged or otherwise used by secured parties | $ 130.7 | $ 135.8 |
Assets that may not be sold or repledged or otherwise used by secured parties | 76.2 | 68.1 |
Total assets pledged | 695.8 | 697.6 |
Assets pledged at Federal Reserve banks and FHLBs | ||
Pledged assets and Collateral | ||
Total assets pledged | $ 488.9 | $ 493.7 |
Pledged Assets and Collateral_2
Pledged Assets and Collateral - Schedule of Collateral Received (Details) - USD ($) $ in Billions | Sep. 30, 2018 | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | ||
Collateral permitted to be sold or repledged, delivered, or otherwise used | $ 1,114.1 | $ 968.8 |
Collateral sold, repledged, delivered or otherwise used | $ 927.5 | $ 771 |
Litigation (Details)
Litigation (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Sep. 30, 2017asset | Mar. 31, 2017action | Jan. 31, 2017 | Jan. 31, 2015action | Dec. 31, 2013USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)defendant | Sep. 30, 2017USD ($) | |
Loss Contingencies [Line Items] | |||||||||||
Legal expense/(benefit) | $ 20,000,000 | $ (107,000,000) | $ 90,000,000 | $ 172,000,000 | |||||||
Threatened or Pending Litigation | Minimum | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Loss contingency range of possible loss | $ 0 | 0 | 0 | ||||||||
Threatened or Pending Litigation | Maximum | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Loss contingency range of possible loss | 1,600,000,000 | 1,600,000,000 | $ 1,600,000,000 | ||||||||
Foreign Exchange Investigations and Litigation | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Exemption of disqualification period | 5 years | ||||||||||
Disqualification period | 10 years | ||||||||||
Number of defendants | defendant | 1 | ||||||||||
Number of actions dismissed | action | 1 | ||||||||||
General Motors Litigation | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Syndicated term loan facility for General Motors Corporation | 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | ||||||||
Number of representative assets ruled as fixtures | asset | 33 | ||||||||||
Total number of representative assets | asset | 40 | ||||||||||
Interchange Litigation | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Number of separate actions | action | 2 | ||||||||||
Settlement amount | 36,000,000 | ||||||||||
Interchange Litigation | The Defendants | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Settlement amount | 900,000,000 | $ 5,300,000,000 | |||||||||
Interchange Litigation | Visa Defendants | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Settlement amount | 600,000,000 | ||||||||||
Amount deposited into litigation escrow account | $ 600,000,000 | ||||||||||
Interchange Litigation | Mastercard and Certain Banks | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Settlement amount | $ 300,000,000 | ||||||||||
LIBOR and Other Benchmark Rate Investigations and Litigation | Defendant Banks and ICAP Manipulation of U.S. Dollar ISDAFIX Rates | Pending Litigation | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Number of defendants | defendant | 1 | ||||||||||
Municipal Derivatives Litigation | Minimum | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Value of warrants the Firm was chosen to underwrite based upon alleged payments made to certain third parties | $ 3,000,000,000 |
Business Segments (Details)
Business Segments (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)segment | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | [1] | |||
Segment Reporting Information [Line Items] | ||||||||
Number of reportable segments | segment | 4 | |||||||
Noninterest revenue | $ 13,352 | $ 12,780 | $ 42,215 | $ 39,178 | ||||
Net interest income | 13,908 | 12,798 | 40,705 | 37,070 | ||||
Total net revenue | 27,260 | 25,578 | 82,920 | 76,248 | ||||
Provision for credit losses | 948 | 1,452 | 3,323 | 3,982 | ||||
Noninterest expense | 15,623 | 14,570 | 47,674 | 44,620 | ||||
Income before income tax expense | 10,689 | 9,556 | 31,923 | 27,646 | ||||
Income tax expense/(benefit) | 2,309 | 2,824 | 6,515 | 7,437 | ||||
Net income | 8,380 | 6,732 | 25,408 | 20,209 | ||||
Average equity | 230,439 | 231,861 | 228,995 | 229,937 | ||||
Total assets | $ 2,615,183 | [1] | $ 2,563,074 | $ 2,615,183 | [1] | $ 2,563,074 | $ 2,533,600 | |
Return on equity | 14.00% | 11.00% | 14.00% | 11.00% | ||||
Overhead ratio | 57.00% | 57.00% | 57.00% | 59.00% | ||||
Operating Segments | Consumer & Community Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 4,176 | $ 3,898 | $ 12,063 | $ 10,899 | ||||
Net interest income | 9,114 | 8,135 | 26,321 | 23,516 | ||||
Total net revenue | 13,290 | 12,033 | 38,384 | 34,415 | ||||
Provision for credit losses | 980 | 1,517 | 3,405 | 4,341 | ||||
Noninterest expense | 6,982 | 6,495 | 20,770 | 19,390 | ||||
Income before income tax expense | 5,328 | 4,021 | 14,209 | 10,684 | ||||
Income tax expense/(benefit) | 1,242 | 1,468 | 3,385 | 3,920 | ||||
Net income | 4,086 | 2,553 | 10,824 | 6,764 | ||||
Average equity | 51,000 | 51,000 | 51,000 | 51,000 | ||||
Total assets | $ 560,432 | $ 537,459 | $ 560,432 | $ 537,459 | ||||
Return on equity | 31.00% | 19.00% | 27.00% | 17.00% | ||||
Overhead ratio | 53.00% | 54.00% | 54.00% | 56.00% | ||||
Operating Segments | Corporate & Investment Bank | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 6,505 | $ 6,119 | $ 21,954 | $ 19,598 | ||||
Net interest income | 2,300 | 2,496 | 7,257 | 7,541 | ||||
Total net revenue | 8,805 | 8,615 | 29,211 | 27,139 | ||||
Provision for credit losses | (42) | (26) | (142) | (175) | ||||
Noninterest expense | 5,175 | 4,793 | 16,237 | 14,854 | ||||
Income before income tax expense | 3,672 | 3,848 | 13,116 | 12,460 | ||||
Income tax expense/(benefit) | 1,046 | 1,302 | 3,318 | 3,963 | ||||
Net income | 2,626 | 2,546 | 9,798 | 8,497 | ||||
Average equity | 70,000 | 70,000 | 70,000 | 70,000 | ||||
Total assets | $ 928,148 | $ 851,808 | $ 928,148 | $ 851,808 | ||||
Return on equity | 14.00% | 13.00% | 18.00% | 15.00% | ||||
Overhead ratio | 59.00% | 56.00% | 56.00% | 55.00% | ||||
Operating Segments | Commercial Banking | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 576 | $ 592 | $ 1,758 | $ 1,774 | ||||
Net interest income | 1,695 | 1,554 | 4,995 | 4,478 | ||||
Total net revenue | 2,271 | 2,146 | 6,753 | 6,252 | ||||
Provision for credit losses | (15) | (47) | 23 | (214) | ||||
Noninterest expense | 853 | 800 | 2,541 | 2,415 | ||||
Income before income tax expense | 1,433 | 1,393 | 4,189 | 4,051 | ||||
Income tax expense/(benefit) | 344 | 512 | 988 | 1,469 | ||||
Net income | 1,089 | 881 | 3,201 | 2,582 | ||||
Average equity | 20,000 | 20,000 | 20,000 | 20,000 | ||||
Total assets | $ 217,194 | $ 220,064 | $ 217,194 | $ 220,064 | ||||
Return on equity | 21.00% | 17.00% | 20.00% | 16.00% | ||||
Overhead ratio | 38.00% | 37.00% | 38.00% | 39.00% | ||||
Operating Segments | Asset & Wealth Management | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ 2,680 | $ 2,617 | $ 7,997 | $ 7,677 | ||||
Net interest income | 879 | 855 | 2,640 | 2,520 | ||||
Total net revenue | 3,559 | 3,472 | 10,637 | 10,197 | ||||
Provision for credit losses | 23 | 8 | 40 | 30 | ||||
Noninterest expense | 2,585 | 2,408 | 7,732 | 7,606 | ||||
Income before income tax expense | 951 | 1,056 | 2,865 | 2,561 | ||||
Income tax expense/(benefit) | 227 | 382 | 616 | 878 | ||||
Net income | 724 | 674 | 2,249 | 1,683 | ||||
Average equity | 9,000 | 9,000 | 9,000 | 9,000 | ||||
Total assets | $ 166,716 | $ 149,170 | $ 166,716 | $ 149,170 | ||||
Return on equity | 31.00% | 29.00% | 32.00% | 24.00% | ||||
Overhead ratio | 73.00% | 69.00% | 73.00% | 75.00% | ||||
Operating Segments | Corporate | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | $ (177) | $ 109 | $ (220) | $ 963 | ||||
Net interest income | 74 | 77 | (35) | 2 | ||||
Total net revenue | (103) | 186 | (255) | 965 | ||||
Provision for credit losses | 2 | 0 | (3) | 0 | ||||
Noninterest expense | 28 | 74 | 394 | 355 | ||||
Income before income tax expense | (133) | 112 | (646) | 610 | ||||
Income tax expense/(benefit) | 12 | 34 | 18 | (73) | ||||
Net income | (145) | 78 | (664) | 683 | ||||
Average equity | 80,439 | 81,861 | 78,995 | 79,937 | ||||
Total assets | 742,693 | 804,573 | 742,693 | 804,573 | ||||
Reconciling Items | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Noninterest revenue | (408) | (555) | (1,337) | (1,733) | ||||
Net interest income | (154) | (319) | (473) | (987) | ||||
Total net revenue | (562) | (874) | (1,810) | (2,720) | ||||
Provision for credit losses | 0 | 0 | 0 | 0 | ||||
Noninterest expense | 0 | 0 | 0 | 0 | ||||
Income before income tax expense | (562) | (874) | (1,810) | (2,720) | ||||
Income tax expense/(benefit) | (562) | (874) | (1,810) | (2,720) | ||||
Net income | 0 | 0 | 0 | 0 | ||||
Average equity | $ 0 | $ 0 | $ 0 | $ 0 | ||||
[1] | The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at September 30, 2018 , and December 31, 2017 . The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase . The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. For a further discussion, refer to Note 13 . (in millions) Sep 30, 2018 Dec 31, 2017 Assets Trading assets $ 1,567 $ 1,449 Loans 57,114 68,995 All other assets 2,407 2,674 Total assets $ 61,088 $ 73,118 Liabilities Beneficial interests issued by consolidated VIEs $ 20,241 $ 26,081 All other liabilities 330 349 Total liabilities $ 20,571 $ 26,430 |