JP Morgan Chase 2015 Annual Report Download - page 199

JPMorgan Chase & Co./2015 Annual Report 189
The following table presents the asset and liabilities reported at fair value as of December 31, 2015 and 2014, by major
product category and fair value hierarchy.
Assets and liabilities measured at fair value on a recurring basis
Fair value hierarchy
December 31, 2015 (in millions) Level 1 Level 2 Level 3
Derivative netting
adjustments Total fair value
Federal funds sold and securities purchased under resale agreements $ — $ 23,141 $ — $ — $ 23,141
Securities borrowed — 395 — — 395
Trading assets:
Debt instruments:
Mortgage-backed securities:
U.S. government agencies(a) 6 31,815 715 — 32,536
Residential – nonagency — 1,299 194 — 1,493
Commercial – nonagency — 1,080 115 — 1,195
Total mortgage-backed securities 6 34,194 1,024 — 35,224
U.S. Treasury and government agencies(a) 12,036 6,985 — — 19,021
Obligations of U.S. states and municipalities — 6,986 651 — 7,637
Certificates of deposit, bankers’ acceptances and commercial paper — 1,042 — — 1,042
Non-U.S. government debt securities 27,974 25,064 74 — 53,112
Corporate debt securities — 22,807 736 — 23,543
Loans(b) — 22,211 6,604 — 28,815
Asset-backed securities — 2,392 1,832 — 4,224
Total debt instruments 40,016 121,681 10,921 — 172,618
Equity securities 94,059 606 265 — 94,930
Physical commodities(c) 3,593 1,064 — — 4,657
Other — 11,152 744 — 11,896
Total debt and equity instruments(d) 137,668 134,503 11,930 — 284,101
Derivative receivables:
Interest rate 354 666,491 2,766 (643,248) 26,363
Credit — 48,850 2,618 (50,045) 1,423
Foreign exchange 734 177,525 1,616 (162,698) 17,177
Equity — 35,150 709 (30,330) 5,529
Commodity 108 24,720 237 (15,880) 9,185
Total derivative receivables(e) 1,196 952,736 7,946 (902,201) 59,677
Total trading assets 138,864 1,087,239 19,876 (902,201) 343,778
Available-for-sale securities:
Mortgage-backed securities:
U.S. government agencies(a) — 55,066 — — 55,066
Residential – nonagency — 27,618 1 — 27,619
Commercial – nonagency — 22,897 — — 22,897
Total mortgage-backed securities — 105,581 1 — 105,582
U.S. Treasury and government agencies(a) 10,998 38 — — 11,036
Obligations of U.S. states and municipalities — 33,550 — — 33,550
Certificates of deposit — 283 — — 283
Non-U.S. government debt securities 23,199 13,477 — — 36,676
Corporate debt securities — 12,436 — — 12,436
Asset-backed securities:
Collateralized loan obligations — 30,248 759 — 31,007
Other — 9,033 64 — 9,097
Equity securities 2,087 — — — 2,087
Total available-for-sale securities 36,284 204,646 824 — 241,754
Loans — 1,343 1,518 — 2,861
Mortgage servicing rights — — 6,608 — 6,608
Other assets:
Private equity investments(f) 102 101 1,657 — 1,860
All other 3,815 28 744 — 4,587
Total other assets 3,917 129 2,401 — 6,447
Total assets measured at fair value on a recurring basis $ 179,065 $ 1,316,893 (g) $ 31,227 (g) $ (902,201) $ 624,984
Deposits $ — $ 9,566 $ 2,950 $ — $ 12,516
Federal funds purchased and securities loaned or sold under repurchase agreements — 3,526 — — 3,526
Other borrowed funds — 9,272 639 — 9,911
Trading liabilities:
Debt and equity instruments(d) 53,845 20,199 63 — 74,107
Derivative payables:
Interest rate 216 633,060 1,890 (624,945) 10,221
Credit — 48,460 2,069 (48,988) 1,541
Foreign exchange 669 187,890 2,341 (171,131) 19,769
Equity — 36,440 2,223 (29,480) 9,183
Commodity 52 26,430 1,172 (15,578) 12,076
Total derivative payables(e) 937 932,280 9,695 (890,122) 52,790
Total trading liabilities 54,782 952,479 9,758 (890,122) 126,897
Accounts payable and other liabilities 4,382 — 19 — 4,401
Beneficial interests issued by consolidated VIEs — 238 549 — 787
Long-term debt — 21,452 11,613 — 33,065
Total liabilities measured at fair value on a recurring basis $ 59,164 $ 996,533 $ 25,528 $ (890,122) $ 191,103