Trading Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Trading assets and liabilities consisted of the following:


At December 31,	2020		2019
	(in millions)
Trading assets:
U.S. Treasury	$	5,145	$	6,763
U.S. Government agency issued or guaranteed	—		18
U.S. Government sponsored enterprises	192		20

Asset-backed securities	143		168
Corporate and foreign bonds	7,971		10,826
Equity securities	6,043		5,693
Precious metals	4,989		1,909
Derivatives, net	2,801		3,055
Total trading assets	$	27,284	$	28,452
Trading liabilities:
Securities sold, not yet purchased	$	727	$	1,182
Payables for precious metals	2,312		124
Derivatives, net	2,358		1,929
Total trading liabilities	$	5,397	$	3,235