Collateralized Agreements and Financings (Tables)

6 Months Ended

Jun. 30, 2021

The table below presents resale and repurchase agreements and securities borrowed and loaned transactions included in the consolidated balance sheets, as well as the amounts not offset in the consolidated balance sheets.



	Assets					Liabilities

$ in millions		Resale agreements		Securities borrowed			Repurchase agreements		Securities loaned
As of June 2021
Included in the consolidated balance sheets
Gross carrying value		$ 267,924		$ 200,633			$ 265,493		$ 42,536
Counterparty netting		(113,801	)	(4,379	)		(113,801	)	(4,379	)
Total		154,123		196,254			151,692		38,157
Amounts not offset
Counterparty netting		(28,495	)	(11,866	)		(28,495	)	(11,866	)
Collateral		(120,865	)	(176,921	)		(119,180	)	(23,138	)
Total		$ 4,763		$ 7,467			$ 4,017		$ 3,153
As of December 2020
Included in the consolidated balance sheets
Gross carrying value		$ 205,817		$ 147,593			$ 224,328		$ 27,054
Counterparty netting		(97,757	)	(5,433	)		(97,757	)	(5,433	)
Total		108,060		142,160			126,571		21,621
Amounts not offset
Counterparty netting		(8,920	)	(3,525	)		(8,920	)	(3,525	)
Collateral		(96,140	)	(132,893	)		(116,819	)	(17,693	)
Total		$ 3,000		$ 5,742			$ 832		$ 403

Schedule of Gross Carrying Value of Repurchase Agreements and Securities Loaned by Class of Collateral Pledged

The table below presents the gross carrying value of repurchase agreements and securities loaned by class of collateral pledged.



$ in millions	Repurchase agreements	Securities loaned
As of June 2021
Money market instruments	$ 928	$ 9
U.S. government and agency obligations	113,578	64
Non-U.S. government and agency obligations	119,760	1,572
Securities backed by commercial real estate	26	–
Securities backed by residential real estate	218	–
Corporate debt securities	11,007	297
State and municipal obligations	92	–
Other debt obligations	55	–
Equity securities	19,829	40,594
Total	$265,493	$42,536
As of December 2020
Money market instruments	$ 88	$ –
U.S. government and agency obligations	121,751	–
Non-U.S. government and agency obligations	79,159	1,634
Securities backed by commercial real estate	65	–
Securities backed by residential real estate	121	–
Corporate debt securities	6,364	46
State and municipal obligations	92	–
Other debt obligations	20	–
Equity securities	16,668	25,374
Total	$224,328	$27,054

Schedule of Gross Carrying Value of Repurchase Agreements and Securities Loaned by Maturity Date

The table below presents the gross carrying value of repurchase agreements and securities loaned by maturity.



	As of June 2021
$ in millions		Repurchase agreements	Securities loaned
No stated maturity and overnight		$102,727	$25,544
2 - 30 days		66,897	90
31 - 90 days		28,944	109
91 days - 1 year		57,363	15,490
Greater than 1 year		9,562	1,303
Total		$265,493	$42,536

Other Secured Financings

The table below presents information about other secured financings.



$ in millions	U.S. Dollar	Non-U.S. Dollar	Total
As of June 2021
Other secured financings (short-term):
At fair value	$ 7,523	$ 7,786	$15,309
At amortized cost	139	–	139
Other secured financings (long-term):
At fair value	5,563	5,298	10,861
At amortized cost	659	665	1,324
Total other secured financings	$13,884	$13,749	$27,633
Other secured financings collateralized by:
Financial instruments	$ 7,756	$12,052	$19,808
Other assets	$ 6,128	$ 1,697	$ 7,825
As of December 2020
Other secured financings (short-term):
At fair value	$ 6,371	$ 6,847	$13,218
At amortized cost	–	–	–
Other secured financings (long-term):
At fair value	6,632	4,276	10,908
At amortized cost	914	715	1,629
Total other secured financings	$13,917	$11,838	$25,755
Other secured financings collateralized by:
Financial instruments	$ 6,841	$10,068	$16,909
Other assets	$ 7,076	$ 1,770	$ 8,846

Other Secured Financings by Maturity Date

The table below presents other secured financings by maturity.



$ in millions			As of June 2021
Other secured financings (short-term)			$15,448
Other secured financings (long-term):
2022			3,389
2023			3,016
2024			1,559
2025			972
2026			1,236
2027 - thereafter			2,013
Total other secured financings (long-term)			12,185
Total other secured financings			$27,633

Financial Instruments Received as Collateral and Repledged

The table below presents financial instruments at fair value received as collateral that were available to be delivered or repledged and were delivered or repledged.



	As of
$ in millions		June 2021	December 2020
Collateral available to be delivered or repledged		$1,010,547	$864,494
Collateral that was delivered or repledged		$ 853,216	$723,409

Financial Instruments Owned, at Fair Value and Other Assets Pledged as Collateral

The table below presents information about assets pledged.


	As of

$ in millions		June 2021	December 2020
Pledged to counterparties that had the right to deliver or repledge
Trading assets		$ 74,597	$ 69,031
Investments		$ 13,266	$ 13,375
Pledged to counterparties that did not have the right to deliver or repledge
Trading assets		$ 99,640	$ 99,142
Investments		$ 4,020	$ 2,331
Loans		$ 8,234	$ 8,320
Other assets		$ 12,246	$ 14,144