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Fair Value Option (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Assets and Liabilities, by Type, of Consolidated Investment Management Funds Recorded at Fair Value
The following table presents the assets and liabilities, by type, of consolidated investment management funds recorded at fair value. 

Assets and liabilities of consolidated investment management funds, at fair value
 
March 31, 2016

Dec. 31, 2015

(in millions)
Assets of consolidated investment management funds:
 
 
Trading assets
$
1,186

$
1,228

Other assets
114

173

Total assets of consolidated investment management funds
$
1,300

$
1,401

Liabilities of consolidated investment management funds:
 
 
Trading liabilities
$
245

$
229

Other liabilities
9

17

Total liabilities of consolidated investment management funds
$
254

$
246

Changes in Fair Value of the Loans and Long-Term Debt and the Location of the Changes
The following table presents the changes in fair value of the loans and long-term debt and the location of the changes in the consolidated income statement.

Impact of changes in fair value in the income statement (a)
 
Quarter ended
(in millions)
March 31, 2016

Dec. 31, 2015

March 31, 2015

Loans:
 
 
 
Investment and other income
$
18

$
3

$
2

Long-term debt:
 
 
 
Foreign exchange and other trading revenue
$
(13
)
$
3

$
(8
)

(a)
The changes in fair value of the loans and long-term debt are approximately offset by economic hedges included in foreign exchange and other trading revenue.