JP Morgan Chase 2014 Annual Report Download - page 187

JPMorgan Chase & Co./2014 Annual Report 185
The following table presents the asset and liabilities reported at fair value as of December 31, 2014 and 2013, by major
product category and fair value hierarchy.
Assets and liabilities measured at fair value on a recurring basis
Fair value hierarchy
December 31, 2014 (in millions) Level 1 Level 2 Level 3 Derivative netting adjustments Total fair value
Federal funds sold and securities purchased under resale agreements $ — $ 28,585 $ — $ — $ 28,585
Securities borrowed — 992 — — 992
Trading assets:
Debt instruments:
Mortgage-backed securities:
U.S. government agencies(a) 14 31,904 922 — 32,840
Residential – nonagency — 1,381 663 — 2,044
Commercial – nonagency — 927 306 — 1,233
Total mortgage-backed securities 14 34,212 1,891 — 36,117
U.S. Treasury and government agencies(a) 17,816 8,460 — — 26,276
Obligations of U.S. states and municipalities — 9,298 1,273 — 10,571
Certificates of deposit, bankers’ acceptances and commercial paper — 1,429 — — 1,429
Non-U.S. government debt securities 25,854 27,294 302 — 53,450
Corporate debt securities — 28,099 2,989 — 31,088
Loans(b) — 23,080 13,287 — 36,367
Asset-backed securities — 3,088 1,264 — 4,352
Total debt instruments 43,684 134,960 21,006 — 199,650
Equity securities 104,890 748 431 — 106,069
Physical commodities(c) 2,739 1,741 2 — 4,482
Other — 8,762 1,050 — 9,812
Total debt and equity instruments(d) 151,313 146,211 22,489 — 320,013
Derivative receivables:
Interest rate 473 951,901 4,149 (922,798) 33,725
Credit — 73,853 2,989 (75,004) 1,838
Foreign exchange 758 205,887 2,276 (187,668) 21,253
Equity — 44,240 2,552 (38,615) 8,177
Commodity 247 42,807 599 (29,671) 13,982
Total derivative receivables(e) 1,478 1,318,688 12,565 (1,253,756) 78,975
Total trading assets 152,791 1,464,899 35,054 (1,253,756) 398,988
Available-for-sale securities:
Mortgage-backed securities:
U.S. government agencies(a) — 65,319 — — 65,319
Residential – nonagency — 50,865 30 — 50,895
Commercial – nonagency — 21,009 99 — 21,108
Total mortgage-backed securities — 137,193 129 — 137,322
U.S. Treasury and government agencies(a) 13,591 54 — — 13,645
Obligations of U.S. states and municipalities — 30,068 — — 30,068
Certificates of deposit — 1,103 — — 1,103
Non-U.S. government debt securities 24,074 28,669 — — 52,743
Corporate debt securities — 18,532 — — 18,532
Asset-backed securities:
Collateralized loan obligations — 29,402 792 — 30,194
Other — 12,499 116 — 12,615
Equity securities 2,530 — — — 2,530
Total available-for-sale securities 40,195 257,520 1,037 — 298,752
Loans — 70 2,541 — 2,611
Mortgage servicing rights — — 7,436 — 7,436
Other assets:
Private equity investments(f) 648 2,624 2,475 — 5,747
All other 4,018 230 2,371 — 6,619
Total other assets 4,666 2,854 4,846 — 12,366
Total assets measured at fair value on a recurring basis $ 197,652 $ 1,754,920 (g) $ 50,914 (g) $ (1,253,756) $ 749,730
Deposits $ — $ 5,948 $ 2,859 $ — $ 8,807
Federal funds purchased and securities loaned or sold under repurchase agreements — 2,979 — — 2,979
Other borrowed funds — 13,286 1,453 — 14,739
Trading liabilities:
Debt and equity instruments(d) 62,914 18,713 72 — 81,699
Derivative payables:
Interest rate 499 920,623 3,523 (906,900) 17,745
Credit — 73,095 2,800 (74,302) 1,593
Foreign exchange 746 214,800 2,802 (195,378) 22,970
Equity — 46,228 4,337 (38,825) 11,740
Commodity 141 44,318 1,164 (28,555) 17,068
Total derivative payables(e) 1,386 1,299,064 14,626 (1,243,960) 71,116
Total trading liabilities 64,300 1,317,777 14,698 (1,243,960) 152,815
Accounts payable and other liabilities — — 36 — 36
Beneficial interests issued by consolidated VIEs — 1,016 1,146 — 2,162
Long-term debt — 18,349 11,877 — 30,226
Total liabilities measured at fair value on a recurring basis $ 64,300 $ 1,359,355 $ 32,069 $ (1,243,960) $ 211,764