Credit Risk Concentrations (Tables)

12 Months Ended

Dec. 31, 2021

The table below presents both on–balance sheet and off–balance sheet consumer and wholesale credit exposure by the Firm’s three credit portfolio segments as of December 31, 2021 and 2020. The wholesale industry of risk category is generally based on the client or counterparty’s primary business activity.


	2021									2020
	Credit exposure(h)		On-balance sheet					Off-balance sheet(j)		Credit exposure(h)		On-balance sheet						Off-balance sheet(j)
December 31, (in millions)			Loans			Derivatives						Loans			Derivatives
Consumer, excluding credit card	$	368,640	$	323,306	(i)	$	—	$	45,334	$	375,898	$	318,579	(i)	$	—		$	57,319
Credit card(a)	884,830		154,296			—		730,534		802,722		144,216			—			658,506
Total consumer(a)	1,253,470		477,602			—		775,868		1,178,620		462,795			—			715,825
Wholesale(b)
Real Estate	155,069		119,753			1,113		34,203		148,498		118,299			1,385			28,814
Individuals and Individual Entities(c)	141,973		130,576			1,317		10,080		122,870		109,746			1,750			11,374
Consumer & Retail	122,789		39,588			2,669		80,532		108,437		39,013			2,802			66,622
Technology, Media & Telecommunications	84,070		17,815			2,640		63,615		72,150		14,687			4,252			53,211
Asset Managers	81,228		41,031			9,351		30,846		66,573		31,059			9,277			26,237
Industrials	66,974		21,652			1,224		44,098		66,470		21,143			1,851			43,476
Healthcare	59,014		18,587			2,575		37,852		60,118		19,405			3,252			37,461
Banks & Finance Cos	54,684		34,217			4,418		16,049		54,032		31,004			8,044			14,984
Oil & Gas	42,606		11,039			6,034		25,533		39,159		11,267			1,643			26,249
Automotive	34,573		11,759			720		22,094		43,331		17,128			5,995			20,208
State & Municipal Govt(d)	33,216		15,322			1,563		16,331		38,286		18,054			2,347			17,885
Utilities	33,203		5,969			3,736		23,498		30,124		4,874			3,340			21,910
Chemicals & Plastics	17,660		5,033			564		12,063		17,176		4,884			856			11,436
Metals & Mining	16,696		5,696			924		10,076		15,542		4,854			882			9,806
Transportation	14,635		5,453			782		8,400		16,232		6,566			1,495			8,171
Insurance	13,926		1,303			2,700		9,923		13,141		1,042			2,527			9,572
Central Govt	11,317		2,889			6,837		1,591		17,025		3,396			12,313			1,316
Financial Markets Infrastructure	4,377		5			2,487		1,885		6,515		19			3,757			2,739
Securities Firms	4,180		469			1,260		2,451		8,048		469			4,838			2,741
All other(e)	111,690		72,198			4,167		35,325		96,527		58,038			2,838		(k)	35,651
Subtotal	1,103,880		560,354			57,081		486,445		1,040,254		514,947			75,444			449,863
Loans held-for-sale and loans at fair value	39,758		39,758			—		—		35,111		35,111			—			—
Receivables from customers(f)	59,645		—			—		—		47,710		—			—			—
Total wholesale	1,203,283		600,112			57,081		486,445		1,123,075		550,058			75,444			449,863
Total exposure(g)(h)	$	2,456,753	$	1,077,714		$	57,081	$	1,262,313	$	2,301,695	$	1,012,853		$	75,444		$	1,165,688

(a)Also includes commercial card lending-related commitments primarily in CB and CIB.

(b)The industry rankings presented in the table as of December 31, 2020, are based on the industry rankings of the corresponding exposures at December 31, 2021, not actual rankings of such exposures at December 31, 2020.

(c)Individuals and Individual Entities predominantly consists of Global Private Bank clients within AWM and includes exposure to personal investment companies and personal and testamentary trusts.

(d)In addition to the credit risk exposure to states and municipal governments (both U.S. and non-U.S.) at December 31, 2021 and 2020, noted above, the Firm held: $7.1 billion and $7.2 billion, respectively, of trading assets; $15.9 billion and $20.4 billion, respectively, of AFS securities; and $14.0 billion and $12.8 billion, respectively, of HTM securities, issued by U.S. state and municipal governments. Refer to Note 2 and Note 10 for further information.

(e)All other includes: SPEs and Private education and civic organizations, representing approximately 94% and 6%, respectively, at December 31, 2021 and 92% and 8%, respectively, at December 31, 2020 . Refer to Note 14 for more information on exposures to SPEs.

(f)Receivables from customers reflect held-for-investment margin loans to brokerage clients in CIB, CCB and AWM that are collateralized by assets maintained in the clients’ brokerage accounts (e.g., cash on deposit, liquid and readily marketable debt or equity securities). Because of this collateralization, no allowance for credit losses is generally held against these receivables. To manage its credit risk the Firm establishes margin requirements and monitors the required margin levels on an ongoing basis, and requires clients to deposit additional cash or other collateral, or to reduce positions, when appropriate. These receivables are reported within accrued interest and accounts receivable on the Firm’s Consolidated balance sheets.

(g)Excludes cash placed with banks of $729.6 billion and $516.9 billion, at December 31, 2021 and 2020, respectively, which is predominantly placed with various central banks, primarily Federal Reserve Banks.

(h)Credit exposure is net of risk participations and excludes the benefit of credit derivatives used in credit portfolio management activities held against derivative receivables or loans and liquid securities and other cash collateral held against derivative receivables.

(i)At December 31, 2021 and 2020, included $5.4 billion and $19.2 billion of loans in Business Banking under the PPP, respectively. PPP loans are guaranteed by the SBA. Other than in certain limited circumstances, the Firm typically does not recognize charge-offs, classify as nonaccrual nor record an allowance for loan losses on these loans.

(j)Represents lending-related financial instruments.

(k)Prior-period amounts have been revised to conform with the current presentation.