Unsecured Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Unsecured Borrowings

The table below presents information about unsecured borrowings.



		As of December

$ in millions			2020				2019
Unsecured short-term borrowings			$ 52,870				$ 48,287
Unsecured long-term borrowings			213,481				207,076
Total			$266,351				$255,363

Unsecured Short-Term Borrowings

The table below presents information about unsecured short-term borrowings.



		As of December

$ in millions			2020				2019
Current portion of unsecured long-term borrowings			$25,914				$30,636
Hybrid financial instruments			18,823				15,814
Commercial paper			6,085				–
Other unsecured short-term borrowings			2,048				1,837
Total unsecured short-term borrowings			$52,870				$48,287
Weighted average interest rate			1.84%				2.71%

Unsecured Long-Term Borrowings

The table below presents information about unsecured long-term borrowings.



$ in millions			U.S. Dollar				Non-U.S. Dollar				Total
As of December 2020
Fixed-rate obligations:
Group Inc.			$ 98,858				$35,614				$134,472
Subsidiaries			1,700				3,145				4,845
Floating-rate obligations:
Group Inc.			18,579				18,871				37,450
Subsidiaries			23,440				13,274				36,714
Total			$142,577				$70,904				$213,481
As of December 2019
Fixed-rate obligations:
Group Inc.			$ 91,256				$33,631				$124,887
Subsidiaries			1,590				2,554				4,144
Floating-rate obligations:
Group Inc.			25,318				18,383				43,701
Subsidiaries			22,532				11,812				34,344
Total			$140,696				$66,380				$207,076

Unsecured Long-Term Borrowings by Maturity Date

The table below presents unsecured long-term borrowings by maturity.



		As of December 2020

$ in millions			Group Inc.				Subsidiaries				Total
2022			$ 22,637				$ 6,332				$ 28,969
2023			26,961				6,332				33,293
2024			15,551				4,780				20,331
2025			21,405				5,771				27,176
2026 - thereafter			85,368				18,344				103,712
Total			$171,922				$41,559				$213,481

Unsecured Long-Term Borrowings after Hedging

The table below presents unsecured long-term borrowings, after giving effect to such hedging activities.



$ in millions			Group Inc.				Subsidiaries				Total
As of December 2020
Fixed-rate obligations:
At fair value			$ 1,407				$ 114				$ 1,521
At amortized cost			27,482				3,345				30,827
Floating-rate obligations:
At fair value			9,721				29,669				39,390
At amortized cost			133,312				8,431				141,743
Total			$171,922				$41,559				$213,481
As of December 2019
Fixed-rate obligations:
At fair value			$ 678				$ 47				$ 725
At amortized cost			44,631				2,946				47,577
Floating-rate obligations:
At fair value			14,920				28,016				42,936
At amortized cost			108,359				7,479				115,838
Total			$168,588				$38,488				$207,076

Subordinated Borrowings

The table below presents information about subordinated borrowings.



$ in millions			Par Amount				Carrying Value				Rate
As of December 2020
Subordinated debt			$14,136				$18,529				1.83%
Junior subordinated debt			968				1,430				1.32%
Total			$15,104				$19,959				1.80%
As of December 2019
Subordinated debt			$14,041				$16,980				3.46%
Junior subordinated debt			976				1,328				2.85%
Total			$15,017				$18,308				3.42%