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Trading Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2012
Trading Assets and Liabilities

Trading assets and liabilities are summarized in the following table.

 

     

September 30,

2012

    

December 31,

2011

 
     (in millions)  

Trading assets:

     

U.S. Treasury

   $ 2,283       $ 259   

U.S. Government agency issued or guaranteed

     292         14   

U.S. Government sponsored enterprises(1)

     231         24   

Asset-backed securities

     987         1,032   

Corporate and foreign bonds(2)

     9,636         11,577   

Other securities

     37         40   

Precious metals

     15,777         17,082   

Fair value of derivatives, net

     9,079         8,772   
  

 

 

    

 

 

 
   $ 38,322       $ 38,800   
  

 

 

    

 

 

 

Trading liabilities:

     

Securities sold, not yet purchased

   $ 361       $ 343   

Payables for precious metals

     6,853         6,999   

Fair value of derivatives, net

     13,661         6,844   
  

 

 

    

 

 

 
   $ 20,875       $ 14,186   
  

 

 

    

 

 

 

 

 

(1) 

Includes mortgage-backed securities of $13 million and $10 million issued or guaranteed by the Federal National Mortgage Association (“FNMA”) at September 30, 2012 and December 31, 2011, respectively, and $218 million and $14 million issued or guaranteed by the Federal Home Loan Mortgage Corporation (“FHLMC”) at September 30, 2012 and December 31, 2011, respectively.

 

(2) 

We did not hold any foreign bonds issued by the governments of Greece, Ireland, Italy, Portugal or Spain at either September 30, 2012 or December 31, 2011.