Trading assets and liabilities are summarized in the following table.



	June 30, 2013		December 31, 2012
	(in millions)
Trading assets:
U.S. Treasury	$	1,530	$	2,484
U.S. Government agency	73		337
U.S. Government sponsored enterprises⁽¹⁾	124		32
Asset backed securities	469		687
Corporate and foreign bonds⁽²⁾	6,830		9,583
Other securities	24		36
Precious metals	9,397		12,332
Derivatives	9,001		10,504
	$	27,448	$	35,995
Trading liabilities:
Securities sold, not yet purchased	$	491	$	207
Payables for precious metals	4,545		5,767
Derivatives	10,301		13,846
	$	15,337	$	19,820


⁽¹⁾	Includes mortgage backed securities of $97 million and $16 million issued or guaranteed by the Federal National Mortgage Association (“FNMA”) and $27 million and $16 million issued or guaranteed by the Federal Home Loan Mortgage Corporation (“FHLMC”) at June 30, 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 June 30, 2013 or December 31, 2012.