Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2014

Text Block [Abstract]

Nonconsolidated Variable Interest Entities

The tables below present information about nonconsolidated VIEs in which the firm holds variable interests.

	Nonconsolidated VIEs
	As of March 2014
in millions		Mortgage- backed		Corporate CDOs and CLOs	Real estate, credit-related and other investing	Other asset- backed	Power- related	Investment funds	Total
Assets in VIE		$81,477	2	$16,888	$9,293	$4,459	$906	$2,299	$115,322
Carrying Value of the Firm’s Variable Interests
Assets		4,334		881	2,785	246	116	49	8,411
Liabilities		—		5	1	17	—	—	23
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		2,963		35	—	11	—	—	3,009
Purchased interests		1,371		573	—	119	—	—	2,063
Commitments and guarantees 1		—		—	502	160	452	3	1,117
Derivatives 1		518		4,877	62	1,819	—	—	7,276
Loans and investments		—		—	2,785	—	116	49	2,950
Total		$  4,852	2	$  5,485	$3,349	$2,109	$568	$     52	$  16,415
	Nonconsolidated VIEs
	As of December 2013
in millions		Mortgage- backed		Corporate CDOs and CLOs	Real estate, credit-related and other investing	Other asset- backed	Power- related	Investment funds	Total
Assets in VIE		$86,562	2	$19,761	$8,599	$4,401	$593	$2,332	$122,248
Carrying Value of the Firm’s Variable Interests
Assets		5,269		1,063	2,756	284	116	49	9,537
Liabilities		—		3	2	40	—	—	45
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests		3,641		80	—	6	—	—	3,727
Purchased interests		1,627		659	—	142	—	—	2,428
Commitments and guarantees 1		—		—	485	—	278	3	766
Derivatives 1		586		4,809	—	2,115	—	—	7,510
Loans and investments		—		—	2,756	—	116	49	2,921
Total		$  5,854	2	$  5,548	$3,241	$2,263	$394	$     52	$  17,352

1. The aggregate amounts include $1.67 billion and $2.01 billion as of March 2014 and December 2013, respectively, related to derivative transactions with VIEs to which the firm transferred assets.

2. Assets in VIE and maximum exposure to loss include $4.62 billion and $860 million, respectively, as of March 2014, and $4.55 billion and $900 million, respectively, as of December 2013, related to CDOs backed by mortgage obligations.

Consolidated Variable Interest Entities

The tables below present the carrying amount and classification of assets and liabilities in consolidated VIEs, excluding the benefit of offsetting financial instruments that are held to mitigate the risks associated with the firm’s variable interests.

	Consolidated VIEs
	As of March 2014
in millions		Real estate, credit-related and other investing	CDOs, mortgage-backed and  other asset-backed	Principal- protected notes	Total
Assets
Cash and cash equivalents		$     77	$  —	$      —	$     77
Cash and securities segregated for regulatory and other purposes		72	—	63	135
Receivables from customers and counterparties		51	—	—	51
Financial instruments owned, at fair value		1,438	324	159	1,921
Other assets		640	—	—	640
Total		$2,278	$324	$   222	$2,824
Liabilities
Other secured financings		$   304	$222	$   403	$   929
Financial Instruments sold, but not yet purchased, at fair value		—	15	—	15
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		—	—	1,224	1,224
Unsecured long-term borrowings		42	—	176	218
Other liabilities and accrued expenses		349	—	—	349
Total		$   695	$237	$1,803	$2,735
	Consolidated VIEs
	As of December 2013
in millions		Real estate, credit-related and other investing	CDOs, mortgage-backed and  other asset-backed	Principal- protected notes	Total
Assets
Cash and cash equivalents		$   183	$  —	$      —	$   183
Cash and securities segregated for regulatory and other purposes		84	—	63	147
Receivables from customers and counterparties		50	—	—	50
Financial instruments owned, at fair value		1,309	310	155	1,774
Other assets		921	—	—	921
Total		$2,547	$310	$   218	$3,075
Liabilities
Other secured financings		$   417	$198	$   404	$1,019
Unsecured short-term borrowings, including the current portion of unsecured long-term borrowings		—	—	1,258	1,258
Unsecured long-term borrowings		57	—	193	250
Other liabilities and accrued expenses		556	—	—	556
Total		$1,030	$198	$1,855	$3,083