JP Morgan Chase 2013 Annual Report Download - page 195

JPMorgan Chase & Co./2013 Annual Report 201
The following table presents the asset and liabilities measured at fair value as of December 31, 2013 and 2012 by major
product category and fair value hierarchy.
Assets and liabilities measured at fair value on a recurring basis
Fair value hierarchy
December 31, 2013 (in millions) Level 1 Level 2 Level 3 Netting adjustments Total fair value
Federal funds sold and securities purchased under resale agreements $ — $ 25,135 $ — $ — $ 25,135
Securities borrowed — 3,739 — — 3,739
Trading assets:
Debt instruments:
Mortgage-backed securities:
U.S. government agencies(a) 4 25,582 1,005 — 26,591
Residential – nonagency — 1,749 726 — 2,475
Commercial – nonagency — 871 432 — 1,303
Total mortgage-backed securities 4 28,202 2,163 — 30,369
U.S. Treasury and government agencies(a) 14,933 10,547 — — 25,480
Obligations of U.S. states and municipalities — 6,538 1,382 — 7,920
Certificates of deposit, bankers’ acceptances and commercial paper — 3,071 — — 3,071
Non-U.S. government debt securities 25,762 22,379 143 — 48,284
Corporate debt securities — 24,802 5,920 — 30,722
Loans(b) — 17,331 13,455 — 30,786
Asset-backed securities — 3,647 1,272 — 4,919
Total debt instruments 40,699 116,517 24,335 — 181,551
Equity securities 107,667 954 885 — 109,506
Physical commodities(c) 4,968 5,217 4 — 10,189
Other — 5,659 2,000 — 7,659
Total debt and equity instruments(d) 153,334 128,347 27,224 — 308,905
Derivative receivables:
Interest rate 419 848,862 5,398 (828,897) 25,782
Credit — 79,754 3,766 (82,004) 1,516
Foreign exchange 434 151,521 1,644 (136,809) 16,790
Equity — 45,892 7,039 (40,704) 12,227
Commodity 320 34,696 722 (26,294) 9,444
Total derivative receivables(e) 1,173 1,160,725 18,569 (1,114,708) 65,759
Total trading assets 154,507 1,289,072 45,793 (1,114,708) 374,664
Available-for-sale securities:
Mortgage-backed securities:
U.S. government agencies(a) — 77,815 — — 77,815
Residential – nonagency — 61,760 709 — 62,469
Commercial – nonagency — 15,900 525 — 16,425
Total mortgage-backed securities — 155,475 1,234 — 156,709
U.S. Treasury and government agencies(a) 21,091 298 — — 21,389
Obligations of U.S. states and municipalities — 29,461 — — 29,461
Certificates of deposit — 1,041 — — 1,041
Non-U.S. government debt securities 25,648 30,600 — — 56,248
Corporate debt securities — 21,512 — — 21,512
Asset-backed securities:
Collateralized loan obligations — 27,409 821 — 28,230
Other — 11,978 267 — 12,245
Equity securities 3,142 — — — 3,142
Total available-for-sale securities 49,881 277,774 2,322 — 329,977
Loans — 80 1,931 — 2,011
Mortgage servicing rights — — 9,614 — 9,614
Other assets:
Private equity investments(f) 606 429 6,474 — 7,509
All other 4,213 289 3,176 — 7,678
Total other assets 4,819 718 9,650 — 15,187
Total assets measured at fair value on a recurring basis $ 209,207 $ 1,596,518 (g) $ 69,310 (g) $ (1,114,708) $ 760,327
Deposits $ — $ 4,369 $ 2,255 $ — $ 6,624
Federal funds purchased and securities loaned or sold under repurchase agreements — 5,426 — — 5,426
Other borrowed funds — 11,232 2,074 — 13,306
Trading liabilities:
Debt and equity instruments(d) 61,262 19,055 113 — 80,430
Derivative payables:
Interest rate 321 822,014 3,019 (812,071) 13,283
Credit — 78,731 3,671 (80,121) 2,281
Foreign exchange 443 156,838 2,844 (144,178) 15,947
Equity — 46,552 8,102 (39,935) 14,719
Commodity 398 36,609 607 (26,530) 11,084
Total derivative payables(e) 1,162 1,140,744 18,243 (1,102,835) 57,314
Total trading liabilities 62,424 1,159,799 18,356 (1,102,835) 137,744
Accounts payable and other liabilities — — 25 — 25
Beneficial interests issued by consolidated VIEs — 756 1,240 — 1,996
Long-term debt — 18,870 10,008 — 28,878
Total liabilities measured at fair value on a recurring basis $ 62,424 $ 1,200,452 $ 33,958 $ (1,102,835) $ 193,999