XML 177 R167.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value Measurements - Changes in Fair Value of Level 3 Assets and Liabilities (Detail) - Level 3 [Member] - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance $ 2,088 $ 2,207
Fair Value Assets, Gains (Losses) Included In Earnings 48 (133)
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 4 (4)
Fair Value Assets, Purchases 0 0
Fair Value Assets, Issuances 0 0
Fair Value Assets, Settlements (1,268) (109)
Fair Value Assets, Transfers Into Level 3 (17) 106
Fair Value Assets, Transfers Out of Level 3 (152) 21
Fair Value Assets, Ending Balance 703 2,088
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings 133 (132)
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 4  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Liability, Beginning Balance (1,337) (1,538)
Fair Value Liability, Gains (Losses) Included In Earnings (142) 83
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income (19) 23
Fair Value Liability, Purchases 0 0
Fair Value Liability, Issuances (344) (597)
Fair Value Liability, Settlements 380 356
Fair Value Liability, Transfers Into Level 3 (7) (29)
Fair Value Liability, Transfers Out of Level 3 341 365
Fair Value Liability, Ending Balance (1,128) (1,337)
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Earnings (200) 76
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [2] (19)  
Interest rate contracts [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Derivatives, net, Beginning Balance [3] 2 0
Derivatives, net, Gains (Losses) included in Earnings [3] 13 2
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [3] 0 0
Derivatives, net, Purchases [3] 0 0
Derivatives, net, Issuances [3] 0 0
Derivatives, net, Settlements [3] 0 0
Derivatives, net, Transfers into Level 3 [3] 0 0
Derivatives, net, Transfers out of Level 3 [3] (5) 0
Derivatives, net, Ending Balance [3] 10 2
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Earnings [3] 11 2
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [3] 0  
Foreign exchange contracts [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Derivatives, net, Beginning Balance [3] (1) [4] 0
Derivatives, net, Gains (Losses) included in Earnings [3] 4 (2)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [3] 0 0
Derivatives, net, Purchases [3] 0 0
Derivatives, net, Issuances [3] 0 0
Derivatives, net, Settlements [3] 21 1
Derivatives, net, Transfers into Level 3 [3] (21) 0
Derivatives, net, Transfers out of Level 3 [3] (4) 0
Derivatives, net, Ending Balance [3],[4] (1) (1)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Earnings [3] 0 (1)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [3] 0  
Equity contracts [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Derivatives, net, Beginning Balance [3] (52) [4] 81
Derivatives, net, Gains (Losses) included in Earnings [3] 122 (126)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [3] 0 0
Derivatives, net, Purchases [3] 0 0
Derivatives, net, Issuances [3] 0 0
Derivatives, net, Settlements [3] 1 (26)
Derivatives, net, Transfers into Level 3 [3] 0 (2)
Derivatives, net, Transfers out of Level 3 [3] 1 21
Derivatives, net, Ending Balance [3],[4] 72 (52)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Earnings [3] 112 (95)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [3] 0  
Credit contracts [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Derivatives, net, Beginning Balance [3] 52 114
Derivatives, net, Gains (Losses) included in Earnings [3] (36) (2)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [3] 0 0
Derivatives, net, Purchases [3] 0 0
Derivatives, net, Issuances [3] 0 0
Derivatives, net, Settlements [3] 31 (60)
Derivatives, net, Transfers into Level 3 [3] 4 0
Derivatives, net, Transfers out of Level 3 [3] 8 0
Derivatives, net, Ending Balance [3] 59 52
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Earnings [3] 10 (44)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [3] 0  
Other Contracts [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Derivatives, net, Beginning Balance [3] (35) (46)
Derivatives, net, Gains (Losses) included in Earnings [3] (63) (15)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [3] 0 0
Derivatives, net, Purchases [3] 0 0
Derivatives, net, Issuances [3] 0 0
Derivatives, net, Settlements [3] 23 26
Derivatives, net, Transfers into Level 3 [3] 0 0
Derivatives, net, Transfers out of Level 3 [3] 0 0
Derivatives, net, Ending Balance [3] (75) (35)
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Earnings [3] 0 0
Derivatives, net, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [3] 0  
Other assets [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance [5] 4 15
Fair Value Assets, Gains (Losses) Included In Earnings [5] 0 (3)
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [5] 0 0
Fair Value Assets, Purchases [5] 0 0
Fair Value Assets, Issuances [5] 0 0
Fair Value Assets, Settlements [5] (4) (8)
Fair Value Assets, Transfers Into Level 3 [5] 0 0
Fair Value Assets, Transfers Out of Level 3 [5] 0 0
Fair Value Assets, Ending Balance [5] 0 4
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings [5] 0 0
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 0  
Collateralized debt obligations [Member] | Trading assets, excluding derivatives [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance [1] 100 129
Fair Value Assets, Gains (Losses) Included In Earnings [1] 2 13
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [1] 0 0
Fair Value Assets, Purchases [1] 0 0
Fair Value Assets, Issuances [1] 0 0
Fair Value Assets, Settlements [1] (30) (42)
Fair Value Assets, Transfers Into Level 3 [1] 0 0
Fair Value Assets, Transfers Out of Level 3 [1] (72) 0
Fair Value Assets, Ending Balance [1] 0 100
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings [1] 0 10
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 0  
Residential Mortgage Backed Securities [Member] | Trading assets, excluding derivatives [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance 16 [1] 0
Fair Value Assets, Gains (Losses) Included In Earnings [1] 1 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 0 [1] 0
Fair Value Assets, Purchases 0 [1] 0
Fair Value Assets, Issuances 0 [1] 0
Fair Value Assets, Settlements 0 [1] 0
Fair Value Assets, Transfers Into Level 3 0 16
Fair Value Assets, Transfers Out of Level 3 0 [1] 0
Fair Value Assets, Ending Balance [1] 17 16
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings 0 [1] 0
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 0  
Student loan asset-backed securities [Member] | Trading assets, excluding derivatives [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance 92 0
Fair Value Assets, Gains (Losses) Included In Earnings [1] 5 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 0 0
Fair Value Assets, Purchases 0 0
Fair Value Assets, Issuances 0 0
Fair Value Assets, Settlements (17) 0
Fair Value Assets, Transfers Into Level 3 0 92
Fair Value Assets, Transfers Out of Level 3 (80) [1] 0
Fair Value Assets, Ending Balance 0 92
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings 0 0
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 0  
Corporate and other domestic debt securities [Member] | Trading assets, excluding derivatives [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance [1] 1,803 1,803
Fair Value Assets, Gains (Losses) Included In Earnings [1] 0 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 0 0 [1]
Fair Value Assets, Purchases 0 0 [1]
Fair Value Assets, Issuances 0 0 [1]
Fair Value Assets, Settlements (1,293) 0 [1]
Fair Value Assets, Transfers Into Level 3 0 0 [1]
Fair Value Assets, Transfers Out of Level 3 0 0 [1]
Fair Value Assets, Ending Balance 510 1,803 [1]
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings 0 0 [1]
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 0  
Other asset-backed securities available-for-sale [Member] | Available-for-sale securities [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Assets, Beginning Balance [6] 107 111
Fair Value Assets, Gains (Losses) Included In Earnings [6] 0 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [6] 4 (4)
Fair Value Assets, Purchases [6] 0 0
Fair Value Assets, Issuances [6] 0 0
Fair Value Assets, Settlements [6] 0 0
Fair Value Assets, Transfers Into Level 3 [6] 0 0
Fair Value Assets, Transfers Out of Level 3 [6] 0 0
Fair Value Assets, Ending Balance [6] 111 107
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Earnings [6] 0 (4)
Fair Value Assets, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income , Recurring Basis, Still Held, Unrealized Gain (Loss), OCI [1] 4  
Deposits [Member]    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Liability, Beginning Balance [2] (925) [4],[7] (897)
Fair Value Liability, Gains (Losses) Included In Earnings [2] (99) 32
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income [2] (14) 13
Fair Value Liability, Purchases [2] 0 0
Fair Value Liability, Issuances [2] (188) (400)
Fair Value Liability, Settlements [2] 236 149
Fair Value Liability, Transfers Into Level 3 [2] (7) (28)
Fair Value Liability, Transfers Out of Level 3 [2] 223 206
Fair Value Liability, Ending Balance [2],[4],[7] (774) (925)
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Earnings [2] (149) 33
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [2] (14)  
Long-term debt [Member]    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value Liability, Beginning Balance [2] (412) [4],[7] (641)
Fair Value Liability, Gains (Losses) Included In Earnings [2] (43) 51
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income [2] (5) 10
Fair Value Liability, Purchases [2] 0 0
Fair Value Liability, Issuances [2] (156) (197)
Fair Value Liability, Settlements [2] 144 207
Fair Value Liability, Transfers Into Level 3 [2] 0 (1)
Fair Value Liability, Transfers Out of Level 3 [2] 118 159
Fair Value Liability, Ending Balance [2],[4],[7] (354) (412)
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Earnings [2] (51) $ 43
Fair Value Liability, Current Period Unrealized Gains (Losses) Included in Other Comprehensive Income [2] $ (5)  
[1] Gains (losses) on trading assets, excluding derivatives are included in trading revenue in the consolidated statement of income (loss).
[2] Excluding unrealized gains (losses) on fair value option liabilities attributable to our own credit spread, which are recorded in other comprehensive income, gains (losses) on fair value option liabilities are included in gain (loss) on instruments designated at fair value and related derivatives in the consolidated statement of income (loss).
[3] Level 3 net derivatives included derivative assets of $287 million and derivative liabilities of $222 million at December 31, 2019 and derivative assets of $179 million and derivative liabilities of $213 million at December 31, 2018. Gains (losses) on derivatives, net are predominantly included in trading revenue and gain (loss) on instruments designated at fair value and related derivatives in the consolidated statement of income (loss).
[4] We are the client-facing entity and we enter into identical but opposite derivatives to transfer the resultant risks to our affiliates. With the exception of counterparty credit risks, we are market neutral. The corresponding intra-group derivatives are presented as equity derivatives and foreign exchange derivatives in the table.
[5] Represented contingent consideration receivable associated with the sale of a portion of our PB business, which concluded in 2019. Gains (losses) associated with this transaction were included in other income in the consolidated statement of income (loss).
[6] Realized gains (losses) on securities available-for-sale are included in other securities gains, net in the consolidated statement of income (loss). Unrealized gains (losses) on securities available-for-sale are included in other comprehensive income.
[7] Structured deposits and structured notes contain embedded derivative features whose fair value measurements contain significant Level 3 inputs. See equity and foreign exchange derivatives below for a discussion of the uncertainty of Level 3 inputs related to structured deposits and structured notes.