v3.10.0.1
Commitments, Guarantees and Contingencies (Tables)
12 Months Ended
Dec. 31, 2018
Commitments, Guarantees and Contingencies [Abstract]  
Commitments
Commitments
Years to Maturity at December 31, 2018
Less
$ in millions than 11-33-5Over 5Total
Lending:
Corporate$12,132$30,294$47,955$6,910$97,291
Consumer7,1451117,157
Residential and wholesale
real estate755444082531,280
Forward-starting
secured financing
receivables85,5413,70089,241
Underwriting 687687
Investment activities 5098216267874
Letters of credit and
other financial
guarantees180139220
Total $106,269$30,922$48,390$11,169$196,750
Corporate lending commitments participated to third parties$8,078
Forward-starting secured financing receivables
settled within three business days$80,559
Operating Premises Leases
Operating Premises Leases
At
December 31,
$ in millions2018
2019$677
2020657
2021602
2022555
2023507
Thereafter2,639
Total$5,637
Total minimum rental income to be received in the
future under non-cancelable operating subleases$7
Rent Expense
$ in millions201820172016
Rent expense$753$704$689
Obligations under Guarantee Arrangements
Obligations under Guarantee Arrangements at December 31, 2018
Maximum Potential Payout/Notional
Years to Maturity
$ in millionsLess than 11-33-5Over 5Total
Credit derivatives$42,347$50,658$102,231$28,793$224,029
Other credit contracts116116
Non-credit derivatives1,826,6421,398,077454,910600,3124,279,941
Standby letters of credit
and other financial
guarantees issued11,0179781,3264,9148,235
Market value
guarantees8312626235
Liquidity facilities4,4494,449
Whole loan sales
guarantees123,21023,211
Securitization
representations
and warranties63,55263,552
General partner
guarantees911216044325
Carrying
Amount
(Asset)/Collateral/
$ in millionsLiabilityRecourse
Credit derivatives2$1,384$
Other credit contracts14
Non-credit derivatives253,434
Standby letters of credit and other
financial guarantees issued1(226)6,901
Market value guarantees124
Liquidity facilities(5)7,353
Whole loan sales guarantees9
Securitization representations and warranties342
General partner guarantees71

1. These amounts include certain issued standby letters of credit participated to third parties, totaling $0.6 billion of notional and collateral/recourse, due to the nature of the Firm’s obligations under these arrangements.

2. Carrying amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting. For further information on derivative contracts, see Note 4.

3. Primarily related to residential mortgage securitizations.

Legal Expenses
$ in millions201820172016
Legal expenses$206$342$263