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1.0.0.3 false Securities false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Securities [Abstract] 0 jpm_SecuritiesAbstract jpm false na duration string Securities. false false false false false true false false false 1 false false 0 0 false false Securities. false 3 Securities 1 jpm_SecuritiesTextBlock jpm false na duration string This item represents the entire disclosure related to Investments in Certain Debt and Equity Securities which include all... false false false false false false false false false 1 false false 0 0   <div style="font-family: Helvetica,Arial,sans-serif"> <div align="left" style="font-size: 12pt; margin-top: 12pt"><b>Note 11 – Securities</b> </div> <div style="position: relative"> <div align="left" style="font-size: 10pt; margin-top: 6pt">Securities are classified as AFS, held-to-maturity (“HTM”) or trading. Trading securities are discussed in Note 3 on pages 148-165 of this Annual Report. Securities are classified primarily as AFS when used to manage the Firm’s exposure to interest rate movements, as well as to make strategic longer-term investments. AFS securities are carried at fair value on the Consolidated Balance Sheets. Unrealized gains and losses, after any applicable hedge accounting adjustments, are reported as net increases or decreases to accumulated other comprehensive income/(loss). The specific identification method is used to determine realized gains and losses on AFS securities, which are included in securities gains/(losses) on the Consolidated Statements of Income. Securities that the Firm has the positive intent and ability to hold to maturity are classified as HTM and are carried at amortized cost on the Consolidated Balance Sheets. The Firm has not classified new purchases of securities as HTM for the past several years. </div> </div> <div style="position: relative"> <div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents realized gains and losses from AFS securities. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="64%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">Year ended December 31,</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">(in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>2009</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2008</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2007</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="13" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Realized gains </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>2,268</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,890</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">667</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Realized losses </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right"><b>(580</b></td> <td nowrap="nowrap"><b>)</b></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(254</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(503</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td colspan="13" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Net realized gains<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td> </td> <td align="right"><b>1,688</b></td> <td> </td> <td> </td> <td> </td> <td align="right">1,636</td> <td> </td> <td> </td> <td> </td> <td align="right">164</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Credit losses included in securities gains<sup style="font-size: 85%; vertical-align: text-top">(b)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right"><b>(578</b></td> <td nowrap="nowrap"><b>)</b></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(76</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="13" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Net securities gains</b> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>1,110</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,560</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">164</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="13" align="left" style="border-top: 2px solid #000000"> </td> </tr>  </table> </div> <div style="margin-top: 3pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Proceeds from securities sold were within approximately 3% of amortized cost in 2009 and approximately 2% of amortized cost in 2008 and 2007.</td> </tr> <tr style="font-size: 0pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>Includes other-than-temporary impairment losses recognized in income on certain prime and subprime mortgage-backed securities and obligations of U.S. states and municipalities.</td> </tr> </table> </div> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">The amortized costs and estimated fair values of AFS and HTM securities were as follows for the dates indicated. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="28%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000"><b>2009</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">2008</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Gross</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Gross</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Gross</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Gross</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Amortized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">unrealized</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Amortized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">December 31, (in millions)</td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">cost</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">gains</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">cost</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">gains</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">value</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Available-for-sale debt securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Mortgage-backed securities<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">U.S. government agencies<sup style="font-size: 85%; vertical-align: text-top">(b)</sup> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>166,094</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>2,412</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>608</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>167,898</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">115,198</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,414</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">227</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">117,385</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Residential: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:30px; text-indent:-15px">Prime and Alt-A </div></td> <td> </td> <td> </td> <td align="right"><b>5,234</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>96</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right"><b>807</b></td> <td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(d)</sup></td> <td> </td> <td> </td> <td align="right"><b>4,523</b></td> <td> </td> <td> </td> <td> </td> <td align="right">8,826</td> <td> </td> <td> </td> <td> </td> <td align="right">4</td> <td> </td> <td> </td> <td> </td> <td align="right">1,935</td> <td> </td> <td> </td> <td> </td> <td align="right">6,895</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Subprime </div></td> <td> </td> <td> </td> <td align="right"><b>17</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>17</b></td> <td> </td> <td> </td> <td> </td> <td align="right">213</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">19</td> <td> </td> <td> </td> <td> </td> <td align="right">194</td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:30px; text-indent:-15px">Non-U.S. </div></td> <td> </td> <td> </td> <td align="right"><b>10,003</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>320</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>65</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>10,258</b></td> <td> </td> <td> </td> <td> </td> <td align="right">2,233</td> <td> </td> <td> </td> <td> </td> <td align="right">24</td> <td> </td> <td> </td> <td> </td> <td align="right">182</td> <td> </td> <td> </td> <td> </td> <td align="right">2,075</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Commercial </div></td> <td> </td> <td> </td> <td align="right"><b>4,521</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>132</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>63</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>4,590</b></td> <td> </td> <td> </td> <td> </td> <td align="right">4,623</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">684</td> <td> </td> <td> </td> <td> </td> <td align="right">3,939</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total mortgage-backed securities</b> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>185,869</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>2,960</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>1,543</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>187,286</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">131,093</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,442</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3,047</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">130,488</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">U.S. Treasury and government agencies<sup style="font-size: 85%; vertical-align: text-top">(b)</sup> </div></td> <td> </td> <td> </td> <td align="right"><b>30,044</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>88</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>135</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>29,997</b></td> <td> </td> <td> </td> <td> </td> <td align="right">10,402</td> <td> </td> <td> </td> <td> </td> <td align="right">52</td> <td> </td> <td> </td> <td> </td> <td align="right">97</td> <td> </td> <td> </td> <td> </td> <td align="right">10,357</td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Obligations of U.S. states and municipalities </div></td> <td> </td> <td> </td> <td align="right"><b>6,270</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>292</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>25</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>6,537</b></td> <td> </td> <td> </td> <td> </td> <td align="right">3,479</td> <td> </td> <td> </td> <td> </td> <td align="right">94</td> <td> </td> <td> </td> <td> </td> <td align="right">238</td> <td> </td> <td> </td> <td> </td> <td align="right">3,335</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Certificates of deposit </div></td> <td> </td> <td> </td> <td align="right"><b>2,649</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>2,650</b></td> <td> </td> <td> </td> <td> </td> <td align="right">17,226</td> <td> </td> <td> </td> <td> </td> <td align="right">64</td> <td> </td> <td> </td> <td> </td> <td align="right">8</td> <td> </td> <td> </td> <td> </td> <td align="right">17,282</td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Non-U.S. government debt securities </div></td> <td> </td> <td> </td> <td align="right"><b>24,320</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>234</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>51</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>24,503</b></td> <td> </td> <td> </td> <td> </td> <td align="right">8,173</td> <td> </td> <td> </td> <td> </td> <td align="right">173</td> <td> </td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> <td> </td> <td> </td> <td align="right">8,344</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Corporate debt securities </div></td> <td> </td> <td> </td> <td align="right"><b>61,226</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>812</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>30</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>62,008</b></td> <td> </td> <td> </td> <td> </td> <td align="right">9,358</td> <td> </td> <td> </td> <td> </td> <td align="right">257</td> <td> </td> <td> </td> <td> </td> <td align="right">61</td> <td> </td> <td> </td> <td> </td> <td align="right">9,554</td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Asset-backed securities<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Credit card receivables </div></td> <td> </td> <td> </td> <td align="right"><b>25,266</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>502</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>26</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>25,742</b></td> <td> </td> <td> </td> <td> </td> <td align="right">13,651</td> <td> </td> <td> </td> <td> </td> <td align="right">8</td> <td> </td> <td> </td> <td> </td> <td align="right">2,268</td> <td> </td> <td> </td> <td> </td> <td align="right">11,391</td> <td> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px">Collateralized debt and loan obligations </div></td> <td> </td> <td> </td> <td align="right"><b>12,172</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>413</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>436</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>12,149</b></td> <td> </td> <td> </td> <td> </td> <td align="right">11,847</td> <td> </td> <td> </td> <td> </td> <td align="right">168</td> <td> </td> <td> </td> <td> </td> <td align="right">820</td> <td> </td> <td> </td> <td> </td> <td align="right">11,195</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Other </div></td> <td> </td> <td> </td> <td align="right"><b>6,719</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>129</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>54</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>6,794</b></td> <td> </td> <td> </td> <td> </td> <td align="right">1,026</td> <td> </td> <td> </td> <td> </td> <td align="right">4</td> <td> </td> <td> </td> <td> </td> <td align="right">135</td> <td> </td> <td> </td> <td> </td> <td align="right">895</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total available-for-sale debt securities</b> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>354,535</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>5,431</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"><b>$</b></td> <td align="right"><b>2,300</b></td> <td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(d)</sup></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>357,666</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">206,255</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3,262</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,676</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">202,841</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Available-for-sale equity securities </div></td> <td> </td> <td> </td> <td align="right"><b>2,518</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>185</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>4</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>2,699</b></td> <td> </td> <td> </td> <td> </td> <td align="right">3,073</td> <td> </td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> <td> </td> <td> </td> <td align="right">3,068</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #ffffff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total available-for-sale securities</b> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>357,053</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>5,616</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"><b>$</b></td> <td align="right"><b>2,304</b></td> <td nowrap="nowrap"><sup style="font-size: 85%; vertical-align: text-top">(d)</sup></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>360,365</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">209,328</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3,264</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,683</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">205,909</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 2px solid #000000"> </td> </tr> <tr style="font-size: 4pt"> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total held-to-maturity securities</b><sup style="font-size: 85%; vertical-align: text-top">(c)</sup> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>25</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>2</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>27</b></td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">34</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">35</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="33" align="left" style="border-top: 2px solid #000000"> </td> </tr>  </table> </div> <div style="margin-top: 3pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Prior periods have been revised to conform to the current presentation.</td> </tr> <tr style="font-size: 0pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>Includes total U.S. government-sponsored enterprise obligations with fair values of $153.0 billion and $120.1 billion at December 31, 2009 and 2008, respectively, which were predominantly mortgage-related.</td> </tr> <tr style="font-size: 0pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(c)</td> <td> </td> <td>Consists primarily of mortgage-backed securities issued by U.S. government-sponsored enterprises.</td> </tr> <tr style="font-size: 0pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(d)</td> <td> </td> <td>Includes a total of $368 million (before tax) of unrealized losses related to prime mortgage-backed securities reported in accumulated comprehensive income not related to credit on debt securities for which credit losses have been recognized in income.</td> </tr> </table> </div> <div align="center"> <table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="47%"></td> <td width="5%"></td> <td width="47%"></td> </tr>   <tr valign="bottom">  <td align="left" valign="top"></td> <td></td> <td align="right" valign="top"></td> </tr> <tr valign="bottom"> <td align="left" valign="top"></td> <td></td> <td align="right" valign="top"></td> </tr>  </table> </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif"> <div align="left" style="font-size: 12pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><b>Securities impairment</b> </div> <div align="left" style="font-size: 10pt">The following table presents the fair value and gross unrealized losses for AFS securities by aging category at December 31. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="32%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="22" style="border-bottom: 1px solid #000000">Securities with gross unrealized losses</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">Less than 12 months</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">12 months or more</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Gross</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Gross</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Total gross</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Fair</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Total fair</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left"><b>December 31, 2009</b> (in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Fair value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Available-for-sale debt securities </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Mortgage-backed securities: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">U.S. government agencies </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>43,235</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>603</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>644</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>5</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>43,879</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>608</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Residential: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Prime and Alt-A </div></td> <td> </td> <td> </td> <td align="right"><b>183</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>27</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>3,032</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>780</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>3,215</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>807</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Subprime </div></td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Non-U.S. </div></td> <td> </td> <td> </td> <td align="right"><b>391</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,773</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>64</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>2,164</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>65</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Commercial </div></td> <td> </td> <td> </td> <td align="right"><b>679</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>34</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>229</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>29</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>908</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>63</b></td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total mortgage-backed securities </div></td> <td> </td> <td> </td> <td align="right"><b>44,488</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>665</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>5,678</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>878</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>50,166</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,543</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">U.S. Treasury and government agencies </div></td> <td> </td> <td> </td> <td align="right"><b>8,433</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>135</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>8,433</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>135</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Obligations of U.S. states and municipalities </div></td> <td> </td> <td> </td> <td align="right"><b>472</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>11</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>389</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>14</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>861</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>25</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Certificates of deposit </div></td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Non-U.S. government debt securities </div></td> <td> </td> <td> </td> <td align="right"><b>2,471</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>46</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>835</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>5</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>3,306</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>51</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Corporate debt securities </div></td> <td> </td> <td> </td> <td align="right"><b>1,831</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>12</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>4,634</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>18</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>6,465</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>30</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Asset-backed securities: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Credit card receivables </div></td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>—</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>745</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>26</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>745</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>26</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Collateralized debt and loan obligations </div></td> <td> </td> <td> </td> <td align="right"><b>42</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>7,883</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>435</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>7,925</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>436</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Other </div></td> <td> </td> <td> </td> <td align="right"><b>767</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>8</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,767</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>46</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>2,534</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>54</b></td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total available-for-sale debt securities </div></td> <td> </td> <td> </td> <td align="right"><b>58,504</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>878</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>21,931</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,422</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>80,435</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>2,300</b></td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Available-for-sale equity securities</b> </div></td> <td> </td> <td> </td> <td align="right"><b>1</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>3</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>3</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>4</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>4</b></td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total securities with gross unrealized losses</b> </div></td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>58,505</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>879</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>21,934</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>1,425</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>80,439</b></td> <td> </td> <td> </td> <td align="left"><b>$</b></td> <td align="right"><b>2,304</b></td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 2px solid #000000"> </td> </tr>  </table> </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="32%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="22" style="border-bottom: 1px solid #000000">Securities with gross unrealized losses</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">Less than 12 months</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">12 months or more</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Gross</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Gross</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Total gross</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Total fair</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">unrealized</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">December 31, 2008 (in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Fair value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Fair value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">losses</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Available-for-sale debt securities </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Mortgage-backed securities<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">U.S. government agencies </div></td> <td> </td> <td align="left">$</td> <td align="right">6,016</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">224</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">469</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,485</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">227</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Residential: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Prime and Alt-A </div></td> <td> </td> <td> </td> <td align="right">6,254</td> <td> </td> <td> </td> <td> </td> <td align="right">1,838</td> <td> </td> <td> </td> <td> </td> <td align="right">333</td> <td> </td> <td> </td> <td> </td> <td align="right">97</td> <td> </td> <td> </td> <td> </td> <td align="right">6,587</td> <td> </td> <td> </td> <td> </td> <td align="right">1,935</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Subprime </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">151</td> <td> </td> <td> </td> <td> </td> <td align="right">19</td> <td> </td> <td> </td> <td> </td> <td align="right">151</td> <td> </td> <td> </td> <td> </td> <td align="right">19</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Non-U.S. </div></td> <td> </td> <td> </td> <td align="right">1,908</td> <td> </td> <td> </td> <td> </td> <td align="right">182</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">1,908</td> <td> </td> <td> </td> <td> </td> <td align="right">182</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Commercial </div></td> <td> </td> <td> </td> <td align="right">3,939</td> <td> </td> <td> </td> <td> </td> <td align="right">684</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">3,939</td> <td> </td> <td> </td> <td> </td> <td align="right">684</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total mortgage-backed securities </div></td> <td> </td> <td> </td> <td align="right">18,117</td> <td> </td> <td> </td> <td> </td> <td align="right">2,928</td> <td> </td> <td> </td> <td> </td> <td align="right">953</td> <td> </td> <td> </td> <td> </td> <td align="right">119</td> <td> </td> <td> </td> <td> </td> <td align="right">19,070</td> <td> </td> <td> </td> <td> </td> <td align="right">3,047</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">U.S. Treasury and government agencies<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td> </td> <td align="right">7,659</td> <td> </td> <td> </td> <td> </td> <td align="right">97</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">7,659</td> <td> </td> <td> </td> <td> </td> <td align="right">97</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Obligations of U.S. states and municipalities </div></td> <td> </td> <td> </td> <td align="right">1,129</td> <td> </td> <td> </td> <td> </td> <td align="right">232</td> <td> </td> <td> </td> <td> </td> <td align="right">16</td> <td> </td> <td> </td> <td> </td> <td align="right">6</td> <td> </td> <td> </td> <td> </td> <td align="right">1,145</td> <td> </td> <td> </td> <td> </td> <td align="right">238</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Certificates of deposit </div></td> <td> </td> <td> </td> <td align="right">382</td> <td> </td> <td> </td> <td> </td> <td align="right">8</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">382</td> <td> </td> <td> </td> <td> </td> <td align="right">8</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Non-U.S. government debt securities </div></td> <td> </td> <td> </td> <td align="right">308</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">74</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">382</td> <td> </td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Corporate debt securities </div></td> <td> </td> <td> </td> <td align="right">558</td> <td> </td> <td> </td> <td> </td> <td align="right">54</td> <td> </td> <td> </td> <td> </td> <td align="right">30</td> <td> </td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> <td> </td> <td> </td> <td align="right">588</td> <td> </td> <td> </td> <td> </td> <td align="right">61</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Asset-backed securities<sup style="font-size: 85%; vertical-align: text-top">(a)</sup>: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Credit card receivables </div></td> <td> </td> <td> </td> <td align="right">10,267</td> <td> </td> <td> </td> <td> </td> <td align="right">1,964</td> <td> </td> <td> </td> <td> </td> <td align="right">472</td> <td> </td> <td> </td> <td> </td> <td align="right">304</td> <td> </td> <td> </td> <td> </td> <td align="right">10,739</td> <td> </td> <td> </td> <td> </td> <td align="right">2,268</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Collateralized debt and loan obligations </div></td> <td> </td> <td> </td> <td align="right">9,059</td> <td> </td> <td> </td> <td> </td> <td align="right">820</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">9,059</td> <td> </td> <td> </td> <td> </td> <td align="right">820</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Other </div></td> <td> </td> <td> </td> <td align="right">813</td> <td> </td> <td> </td> <td> </td> <td align="right">134</td> <td> </td> <td> </td> <td> </td> <td align="right">17</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">830</td> <td> </td> <td> </td> <td> </td> <td align="right">135</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total available-for-sale debt securities </div></td> <td> </td> <td> </td> <td align="right">48,292</td> <td> </td> <td> </td> <td> </td> <td align="right">6,238</td> <td> </td> <td> </td> <td> </td> <td align="right">1,562</td> <td> </td> <td> </td> <td> </td> <td align="right">438</td> <td> </td> <td> </td> <td> </td> <td align="right">49,854</td> <td> </td> <td> </td> <td> </td> <td align="right">6,676</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Available-for-sale equity securities</b> </div></td> <td> </td> <td> </td> <td align="right">19</td> <td> </td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">19</td> <td> </td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total securities with gross unrealized losses</b> </div></td> <td> </td> <td align="left">$</td> <td align="right">48,311</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,245</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,562</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">438</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">49,873</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,683</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="25" align="left" style="border-top: 2px solid #000000"> </td> </tr>  </table> </div> <div style="margin-top: 3pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Prior periods have been revised to conform to the current presentation.</td> </tr> </table> </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="8%"> </td> <td width="5%"> </td> <td width="87%"> </td> </tr>   <tr valign="bottom"> <td valign="top"> </td> </tr>  </table> </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif"> <div style="position: relative"> <div align="left" style="font-size: 10pt; margin-top: 0pt"> <b>Other-than-temporary impairment</b> </div> <div align="left" style="font-size: 10pt">In April 2009, the FASB amended the other-than-temporary impairment (“OTTI”) model for debt securities. The impairment model for equity securities was not affected. Under the new guidance, OTTI losses must be recognized in earnings if an investor has the intent to sell the debt security, or if it is more likely than not that the investor will be required to sell the debt security before recovery of its amortized cost basis. However, even if an investor does not expect to sell a debt security, it must evaluate expected cash flows to be received and determine if a credit loss exists. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. Amounts relating to factors other than credit losses are recorded in OCI. The guidance also requires additional disclosures regarding the calculation of credit losses, as well as factors considered in reaching a conclusion that an investment is not other-than-temporarily impaired. JPMorgan Chase early adopted the new guidance effective for the period ending March 31, 2009. The Firm did not record a transition adjustment for securities held at March 31, 2009, which were previously considered other-than-temporarily impaired, as the Firm intended to sell the securities for which it had previously recognized other-than-temporary impairments. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">AFS securities in unrealized loss positions are analyzed as part of the Firm’s ongoing assessment of OTTI. When the Firm intends to sell AFS securities, it recognizes an impairment loss equal to the full difference between the amortized cost basis and the fair value of those securities. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">When the Firm does not intend to sell AFS equity or debt securities in an unrealized loss position, potential OTTI is considered using a variety of factors, including the length of time and extent to which the market value has been less than cost; adverse conditions specifically related to the industry, geographic area or financial condition of the issuer or underlying collateral of a security; payment structure of the security; changes to the rating of the security by a rating agency; the volatility of the fair value changes; and changes in fair value of the security after the balance sheet date. For debt securities, the Firm estimates cash flows over the remaining lives of the underlying collateral to assess whether credit losses exist and, where applicable for purchased or retained beneficial interests in securitized assets, to determine if any adverse changes in cash flows have occurred. The Firm’s cash flow estimates take into account expectations of relevant market and economic data as of the end of the reporting period – including, for example, for securities issued in a securitization, underlying loan-level data, and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement. The Firm compares the losses projected for the underlying collateral (“pool losses”) against the level of credit enhancement in the securitization structure to determine whether these features are sufficient to absorb the pool losses, or whether a credit loss on the AFS debt security exists. The Firm also performs other analyses to support its cash flow projections, such as first-loss analyses or stress scenarios. For debt securities, the Firm considers a decline in fair value to be other-than-temporary when the Firm does not expect to recover the entire amortized cost basis of the security. The Firm also considers an OTTI to have occurred when there is an adverse change in cash flows to beneficial interests in securitizations that are rated below “AA” at acquisition, or that can be contractually prepaid or otherwise settled in such a way that the Firm would not recover substantially all of its recorded investment. For equity securities, the Firm considers the above factors, as well as the Firm’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the carrying value. The Firm considers a decline in fair value of AFS equity securities to be other-than-temporary if it is probable that the Firm will not recover its amortized cost basis. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents credit losses that are included in the securities gains and losses table above. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">Year ended December 31, (in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2009</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Debt securities the Firm does not intend to sell that have credit losses</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Total losses<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(946</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Losses recorded in/(reclassified from) other comprehensive income </div></td> <td> </td> <td> </td> <td align="right">368</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Credit losses recognized in income</b><sup style="font-size: 85%; vertical-align: text-top">(b)(c)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(578</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr>  </table> </div> <div style="margin-top: 3pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>For initial other-than-temporary impairments, represents the excess of the amortized cost over the fair value of AFS debt securities. For subsequent impairments of the same security, represents additional declines in fair value subsequent to the previously recorded other-than-temporary impairment(s), if applicable.</td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>Represents the credit loss component of certain prime and subprime mortgage-backed securities and obligations of U.S. states and municipalities that the Firm does not intend to sell. Subsequent credit losses may be recorded on securities without a corresponding further decline in fair value if there has been a decline in expected cash flows.</td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(c)</td> <td> </td> <td>Excluded from this table are OTTI losses of $7 million that were recognized in income in 2009, related to subprime mortgage-backed debt securities the Firm intended to sell. These securities were sold in 2009, resulting in the recognition of a recovery of $1 million.</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Changes in the credit loss component of credit-impaired debt securities</b> </div> <div align="left" style="font-size: 10pt">The following table presents a rollforward of the credit loss component of OTTI losses that were recognized in income in 2009, related to debt securities that the Firm does not intend to sell. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">Year ended December 31, (in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2009</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Balance, beginning of period </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Additions: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Newly credit-impaired securities </div></td> <td> </td> <td> </td> <td align="right">578</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Increase in losses on previously credit-impaired securities reclassified from other comprehensive income </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Balance, end of period</b> </div></td> <td> </td> <td align="left">$</td> <td align="right">578</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="5" align="left" style="border-top: 2px solid #000000"> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">During 2009, the Firm continued to increase the size of its AFS securities portfolio. Unrealized losses have decreased since December 31, 2008, due primarily to overall market spread and market liquidity improvements, which resulted in increased pricing across asset classes. As of December 31, 2009, the Firm does not intend to sell the securities with a loss position in AOCI, and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis. Except for the securities reported in the table above for which credit losses have been recognized in income, the Firm believes that the securities with an unrealized loss in AOCI are not other-than-temporarily impaired as of December 31, 2009. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">Following is a description of the Firm’s primary security investments and the key assumptions used in its estimate of the present value of the cash flows most likely to be collected from these investments. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Mortgage-backed securities – U.S. government agencies</i> </div> <div align="left" style="font-size: 10pt">As of December 31, 2009, gross unrealized losses on mortgage-backed securities related to U.S. agencies were $608 million, of which $5 million related to securities that have been in an unrealized loss position for longer than 12 months. These mortgage-backed securities do not have any credit losses, given the explicit and implicit guarantees provided by the U.S. federal government. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Mortgage-backed securities – Prime and Alt-A nonagency</i> </div> <div align="left" style="font-size: 10pt">As of December 31, 2009, gross unrealized losses related to prime and Alt-A residential mortgage-backed securities issued by private issuers were $807 million, of which $780 million related to securities that have been in an unrealized loss position for longer than 12 months. Overall losses have decreased since December 31, 2008, due to increased market stabilization, resulting from increased demand for higher-yielding asset classes and new U.S. government programs. Approximately one-third of these positions (by amortized cost) are currently rated “AAA.” The remaining two-thirds have experienced downgrades since purchase, and approximately half of the positions are currently rated below investment-grade. In analyzing prime and Alt-A residential mortgage-backed securities for potential credit losses, the Firm utilizes a methodology that focuses on loan-level detail to estimate future cash flows, which are then applied to the various tranches of issued securities based on their respective contractual provisions of the securitization trust. The loan-level analysis considers prepayment, home price, default rate and loss severity assumptions. Given this level of granularity, the underlying assumptions vary significantly taking into consideration such factors as the financial condition of the borrower, loan to value ratio, loan type and geographical location of the underlying property. The weighted average underlying default rate on the positions was 19% and the related weighted average loss severity was 51%. Based on this analysis, the Firm has recognized $138 million of OTTI losses in earnings in 2009, related to securities that have experienced increased delinquency rates associated to specific collateral types and origination dates. The unrealized loss of $807 million on the remaining securities is considered temporary, based on management’s assessment that the credit enhancement levels for those securities remain sufficient to support the Firm’s investment. </div> </div> <div style="position: relative"> <div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Mortgage-backed securities – Commercial</i> </div> <div align="left" style="font-size: 10pt">As of December 31, 2009, gross unrealized losses related to commercial mortgage-backed securities were $63 million, of which $29 million related to securities that have been in an unrealized loss position for longer than 12 months. The Firm’s commercial mortgage-backed securities are rated “AAA,” “AA,” “A” and “BBB” and possess, on average, 29% subordination (a form of credit enhancement for the benefit of senior securities, expressed here as the percentage of pool losses that can occur before a senior asset-backed security will incur its first dollar of principal loss). In considering whether potential credit-related losses exist, the Firm conducted a scenario analysis, using high levels of delinquencies and losses over the near term, followed by lower levels over the longer term. Specific assumptions included: (i) default of all loans more than 60 days delinquent; (ii) additional default rates for the remaining portfolio forecasted to be up to 8% in the near term and 2% in the longer term; and (iii) loss severity assumptions ranging from 45% in the near term to 40% in later years. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Asset-backed securities – Credit card receivables</i> </div> <div align="left" style="font-size: 10pt">As of December 31, 2009, gross unrealized losses related to credit card receivables asset-backed securities were $26 million, which relate to securities that were in an unrealized loss position for longer than 12 months. One of the key metrics the Firm reviews for credit card–related asset-backed securities is each trust’s excess spread, which is the credit enhancement resulting from cash that remains each month after payments are made to investors for principal and interest and to servicers for servicing fees, and after credit losses are allocated. The average excess spread for the issuing trusts in which the Firm holds interests ranges from 3.8% to 13.8% with a weighted average of 6.9%. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><i>Asset-backed securities – Collateralized debt and loan obligations</i> </div> <div align="left" style="font-size: 10pt">As of December 31, 2009, gross unrealized losses related to collateralized debt and loan obligations were $436 million, of which $435 million related to securities that were in an unrealized loss position for longer than 12 months. Overall losses have decreased since December 31, 2008, mainly as a result of, lower default forecasts and spread tightening across various asset classes. Substantially all of these securities are rated “AAA” and “AA” and have an average credit enhancement of 29%. Credit enhancement in CLOs is primarily in the form of overcollateralization, which is the excess of the par amount of collateral over the par amount of securities. The key assumptions considered in analyzing potential credit losses were underlying loan and debt security defaults and loss severity. Based on current default trends, the Firm assumed collateral default rates of 5% for 2009 and thereafter. Further, loss severities were assumed to be 50% for loans and 80% for debt securities. Losses on collateral were estimated to occur approximately 18 months after default. </div> </div> <div align="center"> <table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="8%"></td> <td width="5%"></td> <td width="87%"></td> </tr>   <tr valign="bottom"> <td valign="top"> <div style="margin-left:0px; text-indent:-0px"> </div> </td> <td></td> <td align="right" valign="bottom"> <font style="white-space: nowrap"> </font> </td> </tr>  </table> </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Contractual maturities and yields</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">The following table presents the amortized cost and estimated fair value at December 31, 2009, of JPMorgan Chase’s AFS and HTM securities by contractual maturity. </div> <div align="center"> <table style="font-size: 8pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="18" style="border-bottom: 1px solid #000000"><b>2009</b></td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>Due after one</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>Due after five</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">By remaining maturity</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>Due in one</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>year through</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>years through</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>Due after</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">December 31, (in millions)</td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>year or less</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>five years</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>10 years</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>10 ears<sup style="font-size: 85%; vertical-align: text-top">(c)</sup></b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>Total</b></td> <td> </td> </tr>   <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Available-for-sale debt securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Mortgage-backed securities<sup style="font-size: 85%; vertical-align: text-top">(b)</sup> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">1</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">321</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,707</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">178,840</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">185,869</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">335</td> <td> </td> <td> </td> <td> </td> <td align="right">6,804</td> <td> </td> <td> </td> <td> </td> <td align="right">180,146</td> <td> </td> <td> </td> <td> </td> <td align="right">187,286</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.40</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">5.17</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.75</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.54</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.54</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">U.S. Treasury and government agencies<sup style="font-size: 85%; vertical-align: text-top">(b)</sup> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">307</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">23,985</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">5,527</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">225</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">30,044</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">307</td> <td> </td> <td> </td> <td> </td> <td align="right">24,044</td> <td> </td> <td> </td> <td> </td> <td align="right">5,423</td> <td> </td> <td> </td> <td> </td> <td align="right">223</td> <td> </td> <td> </td> <td> </td> <td align="right">29,997</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0.34</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.34</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.34</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">5.38</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.53</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Obligations of U.S. states and municipalities </div></td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td colspan="3" nowrap="nowrap" align="center"> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">14</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">249</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">353</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">5,654</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">6,270</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">14</td> <td> </td> <td> </td> <td> </td> <td align="right">260</td> <td> </td> <td> </td> <td> </td> <td align="right">364</td> <td> </td> <td> </td> <td> </td> <td align="right">5,899</td> <td> </td> <td> </td> <td> </td> <td align="right">6,537</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0.25</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.80</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">5.13</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.75</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.75</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Certificates of deposit </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">2.649</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,649</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">2,650</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,650</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.12</td> <td nowrap="nowrap">%</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.12</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Non-U.S. government debt securities </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">10,726</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">12,830</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">616</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">148</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">24,320</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">10,732</td> <td> </td> <td> </td> <td> </td> <td align="right">12,994</td> <td> </td> <td> </td> <td> </td> <td align="right">627</td> <td> </td> <td> </td> <td> </td> <td align="right">150</td> <td> </td> <td> </td> <td> </td> <td align="right">24,503</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0.95</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.13</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.21</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.71</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.64</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Corporate debt securities </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">6,694</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">53,081</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,253</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">198</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">61,226</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">6,786</td> <td> </td> <td> </td> <td> </td> <td align="right">53,706</td> <td> </td> <td> </td> <td> </td> <td align="right">1,308</td> <td> </td> <td> </td> <td> </td> <td align="right">208</td> <td> </td> <td> </td> <td> </td> <td align="right">62,008</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.78</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.15</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">5.88</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">6.15</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.19</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Asset-backed securities </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">13,826</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">8,365</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">10,386</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">11,580</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">44,157</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">13,902</td> <td> </td> <td> </td> <td> </td> <td align="right">8,646</td> <td> </td> <td> </td> <td> </td> <td align="right">10,507</td> <td> </td> <td> </td> <td> </td> <td align="right">11,630</td> <td> </td> <td> </td> <td> </td> <td align="right">44,685</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.04</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.70</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.38</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.43</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.66</td> <td nowrap="nowrap">%</td> </tr> <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 2px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total available-for-sale debt securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">34,217</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">98,831</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">24,842</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">196,645</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">354,535</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">34,392</td> <td> </td> <td> </td> <td> </td> <td align="right">99,985</td> <td> </td> <td> </td> <td> </td> <td align="right">25,033</td> <td> </td> <td> </td> <td> </td> <td align="right">198,256</td> <td> </td> <td> </td> <td> </td> <td align="right">357,666</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.72</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.17</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.05</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.36</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.40</td> <td nowrap="nowrap">%</td> </tr> <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 2px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Available-for-sale equity securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,518</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,518</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">2,699</td> <td> </td> <td> </td> <td> </td> <td align="right">2,699</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0.42</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">0.42</td> <td nowrap="nowrap">%</td> </tr> <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 2px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total available-for-sale securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td align="left">$</td> <td align="right">34,217</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">98,831</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">24,842</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">199,163</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">357,053</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">34,392</td> <td> </td> <td> </td> <td> </td> <td align="right">99,985</td> <td> </td> <td> </td> <td> </td> <td align="right">25,033</td> <td> </td> <td> </td> <td> </td> <td align="right">200,955</td> <td> </td> <td> </td> <td> </td> <td align="right">360,365</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.72</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.17</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.05</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">4.31</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">3.38</td> <td nowrap="nowrap">%</td> </tr> <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 2px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>Total held-to-maturity securities</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Amortized cost </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">20</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">25</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Fair value </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">3</td> <td> </td> <td> </td> <td> </td> <td align="right">22</td> <td> </td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> <td> </td> <td> </td> <td align="right">27</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Average yield<sup style="font-size: 85%; vertical-align: text-top">(a)</sup> </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">—</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">6.96</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">6.87</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">6.49</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">6.85</td> <td nowrap="nowrap">%</td> </tr> <tr style="font-size: 1px"> <td colspan="21" align="left" style="border-top: 1px solid #000000"> </td> </tr>  </table> </div> <div style="margin-top: 3pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Average yield was based on amortized cost balances at the end of the period and did not give effect to changes in fair value reflected in accumulated other comprehensive income/(loss). Yields are derived by dividing interest/dividend income (including the effect of related derivatives on available-for-sale securities and the amortization of premiums and accretion of discounts) by total amortized cost. Taxable-equivalent yields are used where applicable.</td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>U.S. government agencies and U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at December 31, 2009.</td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(c)</td> <td> </td> <td>Includes securities with no stated maturity. Substantially all of the Firm’s mortgage-backed securities and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated duration, which reflects anticipated future prepayments based on a consensus of dealers in the market, is approximately five years for nonagency mortgage-backed securities and three years for collateralized mortgage obligations.</td> </tr> </table> </div> <div align="center"> <table style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="92%"></td> <td width="5%"></td> <td width="1%"></td> <td width="1%"></td> <td width="1%"></td> </tr>   <tr valign="bottom"> <td valign="top"> <div style="margin-left:0px; text-indent:-0px"> <font style="white-space: nowrap"> </font> </div> </td> <td></td> <td nowrap="nowrap" align="right" valign="bottom"></td> <td align="right" valign="bottom"></td> <td nowrap="nowrap" valign="bottom"></td> </tr>  </table> </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif"> <div align="left" style="font-size: 12pt; margin-top: 0pt"> <b> </b> </div> <div style="position: relative"> </div> </div>  <!-- Begin Block Tagged Note false false This item represents the entire disclosure related to Investments in Certain Debt and Equity Securities which include all debt and equity securities classified as (1) available-for-sale securities and (2) held-to-maturity securities. This is includes securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true