Trading account assets and liabilities |
Trading account assets and Trading account liabilities are carried at fair value, other than physical commodities accounted for at the lower of cost or fair value, and consist of the following: | | | | | | | | | December 31, | In millions of dollars | 2015 | 2014 | Trading account assets | | | Mortgage-backed securities(1) | | | U.S. government-sponsored agency guaranteed | $ | 24,767 |
| $ | 27,053 |
| Prime | 803 |
| 1,271 |
| Alt-A | 543 |
| 709 |
| Subprime | 516 |
| 1,382 |
| Non-U.S. residential | 523 |
| 1,476 |
| Commercial | 2,855 |
| 4,343 |
| Total mortgage-backed securities | $ | 30,007 |
| $ | 36,234 |
| U.S. Treasury and federal agency securities | | | U.S. Treasury | $ | 15,791 |
| $ | 18,906 |
| Agency obligations | 2,005 |
| 1,568 |
| Total U.S. Treasury and federal agency securities | $ | 17,796 |
| $ | 20,474 |
| State and municipal securities | $ | 2,696 |
| $ | 3,402 |
| Foreign government securities | 56,609 |
| 64,937 |
| Corporate | 14,437 |
| 27,797 |
| Derivatives(2) | 56,184 |
| 67,957 |
| Equity securities | 56,495 |
| 57,846 |
| Asset-backed securities(1) | 3,956 |
| 4,546 |
| Other trading assets(3) | 11,776 |
| 13,593 |
| Total trading account assets | $ | 249,956 |
| $ | 296,786 |
| Trading account liabilities | | | Securities sold, not yet purchased | $ | 57,827 |
| $ | 70,944 |
| Derivatives(2) | 57,592 |
| 68,092 |
| Other trading liabilities(3) | 2,093 |
| — |
| Total trading account liabilities | $ | 117,512 |
| $ | 139,036 |
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| | (1) | The Company invests in mortgage-backed and asset-backed securities. These securitizations are generally considered VIEs. The Company’s maximum exposure to loss from these VIEs is equal to the carrying amount of the securities, which is reflected in the table above. For mortgage-backed and asset-backed securitizations in which the Company has other involvement, see Note 22 to the Consolidated Financial Statements. |
| | (2) | Presented net, pursuant to enforceable master netting agreements. See Note 23 to the Consolidated Financial Statements for a discussion regarding the accounting and reporting for derivatives. |
| | (3) | Includes positions related to investments in unallocated precious metals, as discussed in Note 26 to the Consolidated Financial Statements. Also includes physical commodities accounted for at the lower of cost or fair value. |
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