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Financial Instruments Subject to Off-Balance Sheet Credit Risk (Tables)
 9 Months Ended
Sep. 30, 2018
Offsetting [Abstract]  
Offsetting Assets and Liabilities
The following table presents information about our resale agreements and securities lending activity depicting the potential effect of rights of setoff between these recognized assets and recognized liabilities at September 30, 2018 and December 31, 2017.

 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Condensed Consolidated
Balance Sheets
 
 
 
 
Gross
Assets/
Liabilities
 
Gross Amounts
Offset in the
Condensed
Consolidated
Balance Sheets
 
Net Amounts
Presented in the
Condensed
Consolidated
Balance Sheets
 
Counterparty
Offsetting
 
Collateral
 
Net
Amount
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Resale agreements (1)
 
$
4,424

 
$
—

 
$
4,424

 
$
—

 
$
(4,424
)
(2) 
 
$
—

Securities borrowed (3)
 
346

 
—

 
346

 
(316
)
 
(30
)
 
 
—

Total
 
$
4,770

 
$
—

 
$
4,770

 
$
(316
)
 
$
(4,454
)
 
 
$
—

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities loaned (4,5)
 
$
1,062

 
$
—

 
$
1,062

 
$
(316
)
 
$
(652
)
 
 
$
94

Total
 
$
1,062

 
$
—

 
$
1,062

 
$
(316
)
 
$
(652
)
 
 
$
94

 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Resale agreements (1)
 
$
6,596

 
$
—

 
$
6,596

 
$
—

 
$
(6,596
)
(2) 
 
$
—

Securities borrowed (3)
 
222

 
—

 
222

 
(199
)
 
(22
)
 
 
1

Total
 
$
6,818

 
$
—

 
$
6,818

 
$
(199
)
 
$
(6,618
)
 
 
$
1

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities loaned (4,5)
 
$
966

 
$
—

 
$
966

 
$
(199
)
 
$
(670
)
 
 
$
97

Total
 
$
966

 
$
—

 
$
966

 
$
(199
)
 
$
(670
)
 
 
$
97

(1) Included in cash and investments segregated and on deposit for regulatory purposes in the condensed consolidated balance sheets.
(2) Actual collateral was greater than or equal to 102% of the related assets. At September 30, 2018 and December 31, 2017, the fair value of collateral received in connection with resale agreements that are available to be repledged or sold was $4.5 billion and $6.7 billion, respectively.
(3) Included in receivables from brokers, dealers, and clearing organizations in the condensed consolidated balance sheets.
(4) Included in payables to brokers, dealers, and clearing organizations in the condensed consolidated balance sheets. The cash collateral received from counterparties under securities lending transactions was equal to or greater than the market value of the securities loaned at September 30, 2018 and December 31, 2017.
(5) Securities loaned are predominantly comprised of equity securities held in client brokerage accounts with overnight and continuous remaining contractual maturities.
Summary of the Fair Value of Client Securities Available to Utilize as Collateral and Amounts Pledged
The following table summarizes the fair value of client securities that were available, under such regulations, that could have been used as collateral, and the amounts that we had pledged:
 
 
 
 
 
 
September 30, 2018
 
December 31, 2017
Fair value of client securities available to be pledged
 
$
28,806

 
$
25,905

Fair value of client securities pledged for:
 
 
 
 
Fulfillment of requirements with the Options Clearing Corporation (1)
 
3,036

 
2,280

Fulfillment of client short sales
 
1,923

 
2,011

Securities lending to other broker-dealers
 
872

 
784

Total collateral pledged
 
$
5,831

 
$
5,075

Note: Excludes amounts available and pledged for securities lending from fully-paid client securities. The fair value of fully-paid client securities available and pledged was $88 million as of September 30, 2018 and $78 million as of December 31, 2017.
(1)  
Client securities pledged to fulfill client margin requirements for open option contracts established with the Options Clearing Corporation.