JP Morgan Chase 2010 Annual Report Download - page 178

Notes to consolidated financial statements
178 JPMorgan Chase & Co./2010 Annual Report
Fair value hierarchy
December 31, 2009 (in millions) Level 1 Level 2 Level 3
Netting
adjustments
Total
fair value
Federal funds sold and securities purchased under resale
agreements $ — $ 20,536 $ — $ — $ 20,536
Securities borrowed
—
7,032
—
—
7,032
Trading assets:
Debt instruments:
Mortgage-backed securities:
U.S. government agencies
(a)
33,092 8,373 260 — 41,725
Residential
–
nonagency
—
2,284
1,115
—
3,399
Commercial
–
nonagency
—
537
1,770
—
2,307
Total mortgage
-
backed securities
33,092 11,194 3,145 — 47,431
U.S. Treasury and government agencies
(a)
13,701 9,559 — — 23,260
Obligations of U.S. states and municipalities — 5,681 1,971 — 7,652
Certificates of deposit, bankers’ acceptances and
commercial paper — 5,419 — — 5,419
Non-U.S. government debt securities 25,684 32,487 734 — 58,905
Corporate debt securities — 48,754 5,241 — 53,995
Loans
(
b
)
— 18,330 13,218 — 31,548
Asset
-
backed securities
—
1,428
7,975
—
9,403
Total debt instruments
72,477 132,852 32,284 — 237,613
Equity securities
75,053
3,450
1,956
—
80,459
Physical commodities
(
c
)
9,450 586 — — 10,036
Other — 1,884 926 — 2,810
Total debt and equity instruments
(d)
156,980 138,772 35,166 — 330,918
Derivative receivables
(
e
)
(f)
2,344 1,516,490 46,684 (1,485,308) 80,210
Total
trading assets
159,324 1,655,262 81,850 (1,485,308) 411,128
Available
-
for
-
sale securities
:
Mortgage
-
backed securities:
U.S. government agencies
(a)
158,957 8,941 — — 167,898
Residential
–
nonagency
—
14,773
25
—
14,798
Commercial
–
nonagency
—
4,590
—
—
4,590
Total mortgage
-
backed securities
158,957 28,304 25 — 187,286
U.S. Treasury and government agencies
(a)
405 29,592 — — 29,997
Obligations of U.S. states and municipal
ities
—
6,188
349
—
6,537
Certificates of deposit
—
2,650
—
—
2,650
Non
-
U.S. government debt securities
5,506
18,997
—
—
24,503
Corporate debt securities
1
62,007
—
—
62,008
Asset-backed securities:
Credit card receivables — 25,742 — — 25,742
Collateralized debt and loan obligations — 5 12,144 — 12,149
Other — 6,206 588 — 6,794
Equity securities 2,466 146 87 — 2,699
Total available
-
for
-
sale securities
167,335 179,837 13,193 — 360,365
Loans
—
374
990
—
1,364
Mortgage servicing rights
—
—
15,531
—
15,531
Other assets:
Private equity investments
(
g
)
165 597 6,563 — 7,325
All other
(
j
)
7,241 90 9,521 — 16,852
Total other assets
7,406 687 16,084 — 24,177
Total assets measured at fair value on a recurring
basis(h) $ 334,065 $ 1,863,728 $ 127,648 $ (1,485,308) $ 840,133