Trading assets and liabilities are summarized in the following table.



	March 31, 2013		December 31, 2012
	(in millions)
Trading assets:
U.S. Treasury	$	1,234	$	2,484
U.S. Government agency	330		337
U.S. Government sponsored enterprises⁽¹⁾	87		32
Asset backed securities	704		687
Corporate and foreign bonds⁽²⁾	8,043		9,583
Other securities	33		36
Precious metals	15,875		12,332
Derivatives	8,352		10,504
	$	34,658	$	35,995
Trading liabilities:
Securities sold, not yet purchased	$	841	$	207
Payables for precious metals	6,186		5,767
Derivatives	12,461		13,846
	$	19,488	$	19,820


⁽¹⁾	Includes mortgage backed securities of $19 million and $16 million issued or guaranteed by the Federal National Mortgage Association (“FNMA”) and $69 million and $16 million issued or guaranteed by the Federal Home Loan Mortgage Corporation (“FHLMC”) at March 31, 2013 and December 31, 2012, respectively.


⁽²⁾	We did not hold any foreign bonds issued by the governments of Greece, Ireland, Italy, Portugal or Spain at either March 31, 2013 or December 31, 2012.