Quarterly report [Sections 13 or 15(d)]

Derivatives - Credit Derivatives (Details)

v3.25.1
Derivatives - Credit Derivatives (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Carrying Value of Credit Derivatives    
Total $ 273,900 $ 305,700
Carrying Value of Credit-related Notes    
Less than One Year 5 5
One to Three Years 2 5
Three to Five Years 23 46
Over Five Years 1,774 1,834
Total 1,804 1,890
Credit derivatives | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,171 271
One to Three Years 328 307
Three to Five Years 938 776
Over Five Years 510 457
Total 2,947 1,811
Maximum Payout/Notional    
Less than One Year 148,979 127,507
One to Three Years 119,718 120,297
Three to Five Years 217,715 195,671
Over Five Years 70,833 26,051
Total 557,245 469,526
Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 20 33
One to Three Years 313 307
Three to Five Years 938 776
Over Five Years 510 457
Total 1,781 1,573
Maximum Payout/Notional    
Less than One Year 52,851 50,704
One to Three Years 117,470 117,557
Three to Five Years 216,458 194,194
Over Five Years 70,276 25,715
Total 457,055 388,170
Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,151 238
One to Three Years 15 0
Three to Five Years 0 0
Over Five Years 0 0
Total 1,166 238
Maximum Payout/Notional    
Less than One Year 96,128 76,803
One to Three Years 2,248 2,740
Three to Five Years 1,257 1,477
Over Five Years 557 336
Total 100,190 81,356
Investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 0 0
One to Three Years 0 0
Three to Five Years 4 9
Over Five Years 491 715
Total 495 724
Investment grade | Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 0 0
One to Three Years 2 3
Three to Five Years 21 24
Over Five Years 31 16
Total 54 43
Maximum Payout/Notional    
Less than One Year 37,038 35,634
One to Three Years 84,029 87,302
Three to Five Years 163,520 150,225
Over Five Years 56,679 21,482
Total 341,266 294,643
Investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 61 93
One to Three Years 0 0
Three to Five Years 0 0
Over Five Years 0 0
Total 61 93
Maximum Payout/Notional    
Less than One Year 64,286 54,041
One to Three Years 1,296 1,288
Three to Five Years 1,147 1,185
Over Five Years 457 238
Total 67,186 56,752
Non-investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 5 5
One to Three Years 2 5
Three to Five Years 19 37
Over Five Years 1,283 1,119
Total 1,309 1,166
Non-investment grade | Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 20 33
One to Three Years 311 304
Three to Five Years 917 752
Over Five Years 479 441
Total 1,727 1,530
Maximum Payout/Notional    
Less than One Year 15,813 15,070
One to Three Years 33,441 30,255
Three to Five Years 52,938 43,969
Over Five Years 13,597 4,233
Total 115,789 93,527
Non-investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,090 145
One to Three Years 15 0
Three to Five Years 0 0
Over Five Years 0 0
Total 1,105 145
Maximum Payout/Notional    
Less than One Year 31,842 22,762
One to Three Years 952 1,452
Three to Five Years 110 292
Over Five Years 100 98
Total $ 33,004 $ 24,604