Collateralized Agreements and Financings (Tables)

9 Months Ended

Sep. 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 September 2021
Included in the consolidated balance sheets
Gross carrying value		$ 323,886		$ 191,023			$ 278,163		$ 45,886
Counterparty netting		(110,824	)	(4,352	)		(110,824	)	(4,352	)
Total		213,062		186,671			167,339		41,534
Amounts not offset
Counterparty netting		(32,117	)	(12,313	)		(32,117	)	(12,313	)
Collateral		(178,668	)	(164,478	)		(131,121	)	(28,295	)
Total		$ 2,277		$ 9,880			$ 4,101		$ 926
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 September 2021
Money market instruments	$ 1,104	$ 3
U.S. government and agency obligations	120,020	–
Non-U.S. government and agency obligations	117,732	1,471
Securities backed by commercial real estate	237	–
Securities backed by residential real estate	729	–
Corporate debt securities	13,859	902
State and municipal obligations	135	–
Other debt obligations	365	–
Equity securities	23,982	43,510
Total	$278,163	$45,886
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 September 2021

$ in millions		Repurchase agreements	Securities loaned
No stated maturity and overnight		$ 94,879	$29,258
2 - 30 days		74,502	219
31 - 90 days		44,514	116
91 days - 1 year		49,889	13,362
Greater than 1 year		14,379	2,931
Total		$278,163	$45,886

Other Secured Financings

The table below presents information about other secured financings.



$ in millions	U.S. Dollar	Non-U.S. Dollar	Total
As of September 2021
Other secured financings (short-term):
At fair value	$ 4,768	$ 5,332	$10,100
At amortized cost	–	–	–
Other secured financings (long-term):
At fair value	3,812	4,296	8,108
At amortized cost	813	664	1,477
Total other secured financings	$ 9,393	$10,292	$19,685
Other secured financings collateralized by:
Financial instruments	$ 5,154	$ 8,943	$14,097
Other assets	$ 4,239	$ 1,349	$ 5,588
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 September 2021
Other secured financings (short-term)			$10,100
Other secured financings (long-term):
2022			1,314
2023			3,002
2024			1,389
2025			795
2026			1,076
2027 - thereafter			2,009
Total other secured financings (long-term)			9,585
Total other secured financings			$19,685

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		September 2021	December 2020
Collateral available to be delivered or repledged		$1,045,005	$864,494
Collateral that was delivered or repledged		$ 875,554	$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		September 2021	December 2020
Pledged to counterparties that had the right to deliver or repledge
Trading assets		$66,754	$69,031
Investments		$14,515	$13,375
Pledged to counterparties that did not have the right to deliver or repledge
Trading assets		$99,991	$99,142
Investments		$ 9,840	$ 2,331
Loans		$ 8,152	$ 8,320
Other assets		$ 8,741	$14,144