Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Lease Obligations We lease certain offices, buildings and equipment. The leases have various renewal options. The office space leases generally require us to pay certain operating expenses. Net rental expense under operating leases was $6 million, $8 million and $10 million in 2016, 2015 and 2014, respectively. See Note 16, "Related Party Transactions," for additional information.

Future net minimum lease commitments under noncancelable operating lease arrangements were:



Year Ending December 31,	Minimum Rental Payments
	(in millions)
2017	$	4
2018	3
2019	2
2020	1
2021	—
Thereafter	—
Net minimum lease commitments	$	10

Litigation Bond As discussed in Note 20, "Litigation and Regulatory Matters," in 2013, a partial final judgment was entered against us in the securities litigation and we obtained a surety bond for $2.5 billion to secure a stay of execution pending the outcome of our appeal. In the third quarter of 2015, the judgment was reversed and we terminated the surety bond. Prior to the termination of the surety bond, we recorded surety bond fees of $5 million during 2015. As a result of the reversal of the judgment and the termination of the surety bond, during the fourth quarter of 2015 we recovered $13 million of previously paid surety bond fees. Surety bond fees during 2014, totaled of $7 million. The case was settled during 2016. See Note 16, "Related Party Transactions," for discussion of a guarantee we entered into with HSBC North America related to the surety bond.