Fair Value Disclosures (Tables)

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Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2012
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present Merrill Lynch’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 and December 31, 2011, respectively. (dollars in millions)   Fair Value Measurements on a Recurring Basis   as of December 31, 2012   Level 1   Level 2   Level 3   Netting Adj(1)   Total Assets:                   Securities segregated for regulatory purposes or deposited with clearing organizations:                   Non-U.S. governments and agencies $ —   $ 1,833   $ —   $ —   $ 1,833 U.S. Government and agencies 3,558   250   —   —   3,808 Total securities segregated for regulatory purposes or deposited with clearing organizations 3,558   2,083   —   —   5,641 Receivables under resale agreements —   93,715   —   —   93,715 Receivables under securities borrowed transactions —   961   —   —   961 Trading assets, excluding derivative contracts:                   Equities 23,813   12,340   178   —   36,331 Convertible debentures —   4,272   15   —   4,287 Non-U.S. governments and agencies 34,256   3,236   353   —   37,845 Corporate debt —   16,068   1,900   —   17,968 Preferred stock —   116   253   —   369 Mortgages, mortgage-backed and asset-backed —   5,799   4,814   —   10,613 U.S. Government and agencies 26,201   28,363   —   —   54,564 Municipals and money markets 1,292   9,201   1,295   —   11,788 Physical commodities and other —   692   —   —   692 Total trading assets, excluding derivative contracts 85,562   80,087   8,808   —   174,457 Derivative contracts(2) 2,691   657,621   5,677   (641,138 )   24,851 Investment securities available-for-sale:                   U.S. Government and agencies 390   —   —   —   390 Securities, mortgage-backed and asset backed                        Non-agency MBS —   40   —   —   40      Corporate ABS —   218   8   —   226 Total investment securities available-for-sale 390   258   8   —   656 Investment securities non-qualifying 2,254   1,056   287   —   3,597 Total investment securities 2,644   1,314   295   —   4,253 Securities received as collateral 15,426   587   —   —   16,013 Loans, notes and mortgages —   1,396   1,681   —   3,077    Other —   12   1,534   —   1,546 Liabilities:                   Payables under repurchase agreements —   42,639   —   —   42,639 Short-term borrowings —   3,283   —   —   3,283 Trading liabilities, excluding derivative contracts:                   Equities 16,225   2,557   —   —   18,782 Convertible debentures —   175   —   —   175 Non-U.S. governments and agencies 18,382   1,325   —   —   19,707 Corporate debt —   7,912   31   —   7,943 Preferred stock —   83   —   —   83 U.S. Government and agencies 19,276   910   —   —   20,186 Municipals, money markets and other 487   43   32   —   562 Total trading liabilities, excluding derivative contracts 54,370   13,005   63   —   67,438 Derivative contracts(2) 2,449   659,271   4,133   (645,285 )   20,568 Obligation to return securities received as collateral 15,426   587   —   —   16,013 Other payables — interest and other —   50   7   —   57 Long-term borrowings —   29,559   1,316   —   30,875                     (1) Represents counterparty and cash collateral netting. (2) Refer to Note 6 for product level detail. (dollars in millions)   Fair Value Measurements on a Recurring Basis   as of December 31, 2011   Level 1   Level 2   Level 3   Netting Adj(1)   Total Assets:                   Securities segregated for regulatory purposes or deposited with clearing organizations:                   Corporate debt $ —   $ 295   $ —   $ —   $ 295 Non-U.S. governments and agencies —   1,757   —   —   1,757 U.S. Government and agencies 1,796   740   —   —   2,536 Total securities segregated for regulatory purposes or deposited with clearing organizations 1,796   2,792   —   —   4,588 Receivables under resale agreements —   85,652   —   —   85,652 Receivables under securities borrowed transactions —   259   —   —   259 Trading assets, excluding derivative contracts:                   Equities 14,962   5,860   179   —   21,001 Convertible debentures —   4,519   99   —   4,618 Non-U.S. governments and agencies 28,026   1,871   342   —   30,239 Corporate debt —   13,027   3,962   —   16,989 Preferred stock —   89   227   —   316 Mortgages, mortgage-backed and asset-backed —   5,055   3,199   —   8,254 U.S. Government and agencies 22,183   20,820   —   —   43,003 Municipals and money markets 1,067   9,755   2,047   —   12,869 Physical commodities and other —   175   —   —   175 Total trading assets, excluding derivative contracts 66,238   61,171   10,055   —   137,464 Derivative contracts(2) 1,810   722,186   10,110   (699,015 )   35,091 Investment securities available-for-sale:                   U.S. Government and agencies 398   —   —   —   398 Securities, mortgage-backed and asset backed                        Non-agency MBS —   249   —   —   249      Corporate ABS —   —   47   —   47 Total investment securities available-for-sale 398   249   47   —   694 Investment securities non-qualifying 2,624   328   574   —   3,526 Total investment securities 3,022   577   621   —   4,220 Securities received as collateral 13,058   658   —   —   13,716 Loans, notes and mortgages —   596   1,726   —   2,322 Other Assets —   —   1,349   —   1,349 Liabilities:                   Payables under repurchase agreements —   34,235   —   —   34,235 Short-term borrowings —   5,908   —   —   5,908 Trading liabilities, excluding derivative contracts:                   Equities 10,868   1,230   —   —   12,098 Convertible debentures —   125   —   —   125 Non-U.S. governments and agencies 15,911   643   —   —   16,554 Corporate debt —   6,927   52   —   6,979 Preferred Stock —   89   16   —   105 U.S. Government and agencies 15,603   1,373   —   —   16,976 Municipals, money markets and other 549   51   45   —   645 Total trading liabilities, excluding derivative contracts 42,931   10,438   113   —   53,482 Derivative contracts(2) 1,419   724,713   5,615   (705,508 )   26,239 Obligation to return securities received as collateral 13,058   658   —   —   13,716 Other payables — interest and other —   163   10   —   173 Long-term borrowings —   28,139   2,186   —   30,325                     (1) Represents counterparty and cash collateral netting. (2) Refer to Note 6 for product level detail.
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	(dollars in millions)                                         Level 3 Financial Assets and Liabilities Year Ended December 31, 2010       Total Realized and Unrealized Gains or (Losses) included in Income   Total Realized and Unrealized Gains or (Losses) included in Income   Unrealized Gains or (Losses) to OCI   Purchases, Issuances and Settlements   Transfers In           Beginning Balance   Principal Transactions   Other Revenue   Interest           Transfers Out   Ending Balance Assets:                                       Trading assets, excluding derivative contracts:                                       Equities $ 351   $ (17 )   $ —   $ —   $ (17 )   $ —   $ (167 )   $ 130   $ (127 )   $ 170 Non-U.S. governments and agencies 1,142   (143 )   —   —   (143 )   —   (144 )   103   (715 )   243 Corporate debt 6,790   398   —   —   398   —   (2,271 )   965   (1,277 )   4,605 Preferred stock 562   (34 )   —   —   (34 )   —   (204 )   —   (37 )   287 Mortgages, mortgage-backed and asset-backed 7,294   253   —   —   253   —   (1,793 )   390   (397 )   5,747 Municipals and money markets 2,148   112   —   —   112   —   (1,054 )   1,234   (113 )   2,327 Total trading assets, excluding derivative contracts 18,287   569   —   —   569   —   (5,633 )   2,822   (2,666 )   13,379 Derivative contracts, net 6,866   (1,173 )   —   —   (1,173 )   —   648   691   (664 )   6,368 Investment securities available-for-sale :                                       Mortgage-backed securities — non-agency MBSs 473   —   (96 )   31   (65 )   (36 )   (224 )   77   (12 )   213 Total investment securities available-for-sale 473   —   (96 )   31   (65 )   (36 )   (224 )   77   (12 )   213 Investment securities non-qualifying 3,696   —   1,437   —   1,437   —   (1,540 )   —   (199 )   3,394 Total investment securities 4,169   —   1,341   31   1,372   (36 )   (1,764 )   77   (211 )   3,607 Loans, notes and mortgages 4,115   —   133   144   277   —   (2,420 )   28   (109 )   1,891 Liabilities:                                       Trading liabilities, excluding derivative contracts:                                       Non-U.S. governments and agencies 386   23   —   —   23   —   17   —   (380 )   — Total trading liabilities, excluding derivative contracts 386   23   —   —   23   —   17   —   (380 )   — Other payables - interest and other 186   —   44   —   44   —   (16 )   —   —   126 Long-term borrowings 4,683   676   41   —   717   —   (1,254 )   1,353   (1,669 )   2,396                                         The following tables provide a summary of changes in Merrill Lynch’s Level 3 financial assets and liabilities for the years ended December 31, 2012, December 31, 2011 and December 31, 2010. (dollars in millions)                                                     Level 3 Financial Assets and Liabilities Year Ended December 31, 2012       Total Realized and Unrealized Gains or (Losses) included in Income   Total Realized and Unrealized Gains or (Losses) included in Income   Unrealized Gains or (Losses) to OCI   Sales   Purchases   Issuances   Settlements               Beginning Balance   Principal Transactions   Other Revenue   Interest               Transfers In   Transfers Out   Ending Balance Assets:                                                   Trading assets, excluding derivative contracts:                                                   Equities $ 179   $ (12 )   $ —   $ —   $ (12 )   $ —   $ (77 )   $ 90   $ —   $ (18 )   $ 85   $ (69 )   $ 178 Convertible debentures 99   (1 )   —   —   (1 )   —   (56 )   2   —   (20 )   10   (19 )   15 Non-U.S. governments and agencies 342   8   —   —   8   —   (357 )   387   —   (6 )   1   (22 )   353 Corporate debt(1) 3,962   104   —   —   104   —   (2,232 )   1,145   —   (634 )   357   (802 )   1,900 Preferred stock 227   39   —   —   39   —   (120 )   111   —   (1 )   5   (8 )   253 Mortgages, mortgage-backed and asset-backed(1) 3,199   171   —   —   171   —   (1,230 )   2,535   —   (579 )   833   (115 )   4,814 Municipals and money markets 2,047   32   —   —   32   —   (1,013 )   466   —   (209 )   —   (28 )   1,295 Total trading assets, excluding derivative contracts 10,055   341   —   —   341   —   (5,085 )   4,736   —   (1,467 )   1,291   (1,063 )   8,808 Derivative contracts, net 4,495   (1,902 )   —   —   (1,902 )   —   (495 )   680   —   (709 )   (177 )   (348 )   1,544 Investment securities available-for-sale :                                                   Corporate ABS 47   —   (2 )   —   (2 )   —   —   —   —   (37 )   —   —   8 Total investment securities available-for-sale 47   —   (2 )   —   (2 )   —   —   —   —   (37 )   —   —   8 Investment securities non-qualifying 574   —   (9 )   —   (9 )   2   (146 )   61   —   (195 )   —   —   287 Total investment securities 621   —   (11 )   —   (11 )   2   (146 )   61   —   (232 )   —   —   295 Loans, notes and mortgages 1,726   —   205   30   235   —   (382 )   195   —   (104 )   11   —   1,681 Other 1,349   —   (85 )   —   (85 )   —   —   —   270   —   —   —   1,534 Liabilities:                                                   Trading liabilities, excluding derivative contracts:                                                   Corporate debt 52   2   —   —   2   —   76   (61 )   —   1   6   (41 )   31 Preferred stock 16   (2 )   —   —   (2 )   —   9   (14 )   —   —   —   (13 )   — Municipals, money markets and other 45   7   —   —   7   —   21   (28 )   1   —   —   —   32 Total trading liabilities, excluding derivative contracts 113   7   —   —   7   —   106   (103 )   1   1   6   (54 )   63 Other payables - interest and other 10   —   3   —   3   —   —   (4 )   6   —   2   (4 )   7 Long-term borrowings 2,186   (133 )   (54 )   —   (187 )   —   33   (188 )   103   (826 )   980   (1,159 )   1,316 (1) During the year ended December 31, 2012, approximately $900 million was reclassified from Corporate debt to Mortgages, mortgage-backed and asset-backed.  In the table above, this reclassification is presented as a sale of Corporate debt and as a purchase of Mortgages, mortgage-backed and asset-backed trading assets. (dollars in millions)                                                     Level 3 Financial Assets and Liabilities Year Ended December 31, 2011       Total Realized and Unrealized Gains or (Losses) included in Income   Total Realized and Unrealized Gains or (Losses) included in Income   Unrealized Gains or (Losses) to OCI   Sales   Purchases                       Beginning Balance   Principal Transactions   Other Revenue   Interest           Issuances   Settlements   Transfers In   Transfers Out   Ending Balance Assets:                                                   Trading assets, excluding derivative contracts:                                                   Equities $ 170   $ 15   $ —   $ —   $ 15   $ —   $ (159 )   $ 232   $ —   $ (64 )   $ 11   $ (26 )   $ 179 Convertible debentures —   3   —   —   3   —   (106 )   298   —   (4 )   36   (128 )   99 Non-U.S. governments and agencies 243   87   —   —   87   —   (137 )   188   —   (3 )   8   (44 )   342 Corporate debt 4,605   163   —   —   163   —   (3,198 )   2,596   —   (459 )   832   (577 )   3,962 Preferred stock 287   30   —   —   30   —   (201 )   66   —   (76 )   121   —   227 Mortgages, mortgage-backed and asset-backed 5,747   221   —   —   221   —   (3,759 )   1,820   —   (196 )   3   (637 )   3,199 Municipals and money markets 2,327   60   —   —   60   —   (2,133 )   2,097   —   (425 )   126   (5 )   2,047 Total trading assets, excluding derivative contracts 13,379   579   —   —   579   —   (9,693 )   7,297   —   (1,227 )   1,137   (1,417 )   10,055 Derivative contracts, net 6,368   809   —   —   809   —   (884 )   929   —   (3,211 )   1,146   (662 )   4,495 Investment securities available-for-sale :                                                   Mortgage-backed securities — agency CMOs —   —   —   —   —   —   (55 )   56   —   (1 )   —   —   — Mortgage-backed securities — non-agency MBSs 213   —   (19 )   —   (19 )   (38 )   (167 )   11   —   —   —   —   — Corporate ABS —   —   (16 )   —   (16 )   —   —   304   —   —   —   (241 )   47 Total investment securities available-for-sale 213   —   (35 )   —   (35 )   (38 )   (222 )   371   —   (1 )   —   (241 )   47 Investment securities non-qualifying 3,394   —   476   —   476   —   (1,575 )   92   —   (298 )   375   (1,890 )   574 Total investment securities 3,607   —   441   —   441   (38 )   (1,797 )   463   —   (299 )   375   (2,131 )   621   Loans, notes and mortgages 1,891   —   155   34   189   —   (669 )   154   665   (273 )   135   (366 )   1,726   Other Assets —   —   (229 )   —   (229 )   —   —   1,578   —   —   —   —   1,349 Liabilities:                                                   Trading liabilities, excluding derivative contracts:                                                   Corporate debt —   1   —   —   1   —   120   (94 )   —   —   37   (10 )   52 Preferred stock —   4   —   —   4   —   27   (7 )   —   —   —   —   16 Municipals, money markets and other —   (2 )   —   —   (2 )   —   35   (20 )   —   —   28   —   45 Total trading liabilities, excluding derivative contracts —   3   —   —   3   —   182   (121 )   —   —   65   (10 )   113 Other payables - interest and other 126   —   23   —   23   —   4   (6 )   9   —   —   (100 )   10 Long-term borrowings 2,396   (106 )   (43 )   —   (149 )   —   72   (382 )   412   (583 )   975   (853 )   2,186
Fair Value, Measured on Recurring Basis, Unrecognized Gain (Loss) Included in Earnings on Assets and Liabilities related to Level 3 Still Held	The following tables provide the portion of gains or losses included in income for years ended December 31, 2012, December 31, 2011 and December 31, 2010 attributable to unrealized gains or losses relating to those Level 3 assets and liabilities held at December 31, 2012, December 31, 2011 and December 31, 2010, respectively. (dollars in millions)   Unrealized Gains or (Losses) for Level 3 Assets and Liabilities Still Held   Year Ended December 31, 2012   Principal Transactions   Other Revenue   Total Assets:           Trading assets, excluding derivative contracts:           Equities $ (5 )   $ —   $ (5 ) Convertible debentures (6 )   —   (6 ) Non-U.S. governments and agencies 20   —   20 Corporate debt (2 )   —   (2 ) Preferred stock 19   —   19 Mortgages, mortgage-backed and asset-backed 40   —   40 Municipals and money markets 1   —   1 Total trading assets, excluding derivative contracts 67   —   67 Derivative contracts, net (1,411 )   —   (1,411 ) Investment securities non-qualifying —   (32 )   (32 ) Loans, notes and mortgages —   158   158 Other —   (85 )   (85 ) Liabilities:           Trading liabilities, excluding derivative contracts:           Municipals, money markets and other 4   —   4 Total trading liabilities, excluding derivative contracts 4   —   4 Other payables — interest and other —   (2 )   (2 ) Long-term borrowings (136 )   (53 )   (189 ) (dollars in millions)   Unrealized Gains or (Losses) for Level 3 Assets and Liabilities Still Held   Year Ended December 31, 2011   Principal Transactions   Other Revenue     Total Assets:             Trading assets, excluding derivative contracts:             Equities $ (66 )   $ —     $ (66 ) Convertible debentures (2 )   —     (2 ) Non-U.S. governments and agencies 101   —     101 Corporate debt (35 )   —     (35 ) Preferred stock 6   —     6 Mortgages, mortgage-backed and asset-backed 41   —     41 Municipals and money markets 22   —     22 Total trading assets, excluding derivative contracts 67   —     67 Derivative contracts, net 932   —     932 Investment securities available-for-sale:             Mortgage-backed securities - non-agency MBSs —   (30 )     (30 ) Corporate /Agency bonds —   (6 )     (6 ) Total investment securities available-for-sale —   (36 )     (36 ) Investment securities non-qualifying —   (101 )     (101 ) Total investment securities —   (137 )     (137 ) Loans, notes and mortgages —   14     14 Other assets(1) —   (229 )     (229 ) Liabilities:             Trading liabilities, excluding derivative contracts:             Corporate debt 1   —     1 Preferred Stock 4   —     4 Municipals, money markets and other (2 )   —     (2 ) Total trading liabilities, excluding derivative contracts 3   —     3 Other payables — interest and other —   (2 )     (2 ) Long-term borrowings (107 )   (55 )     (162 )               (1) Includes unrealized losses related to net monoline exposure from certain derivative contracts subsequent to their reclassification to other assets in the third quarter of 2011. (dollars in millions)   Unrealized Gains or (Losses) for Level 3 Assets and Liabilities Still Held   Year Ended December 31, 2010   Principal Transactions   Other Revenue   Interest   Total Assets:               Trading assets, excluding derivative contracts:               Equities $ (29 )   $ —   $ —   $ (29 ) Non-U.S. governments and agencies (144 )   —   —   (144 ) Corporate debt 136   —   —   136 Preferred stock (36 )   —   —   (36 ) Mortgages, mortgage-backed and asset-backed 136   —   —   136 Municipals and money markets 88   —   —   88 Total trading assets, excluding derivative contracts 151   —   —   151 Derivative contracts, net (770 )   —   —   (770 ) Investment securities available-for-sale:               Mortgage-backed securities - non-agency MBSs —   (47 )   31   (16 ) Total investment securities available-for-sale —   (47 )   31   (16 ) Investment securities non-qualifying —   20   —   20 Total investment securities —   (27 )   31   4 Loans, notes and mortgages —   199   —   199 Liabilities:               Trading liabilities, excluding derivative contracts:               Non-U.S. governments and agencies 52   —   —   52 Total trading liabilities, excluding derivative contracts 52   —   —   52 Other payables — interest and other —   42   —   42 Long-term borrowings 585   43   —   628
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The following tables present information about significant unobservable inputs related to material components of Merrill Lynch's Level 3 financial assets and liabilities as of December 31, 2012. Quantitative Information about Level 3 Fair Value Measurements (dollars in millions)     Financial Instrument Fair Value Valuation Techniques Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities           Instruments backed by residential real estate assets $ 1,608 Discounted Cash Flow Yield 4% to 25% 7 % Loans, notes and mortgages 1,231 Prepayment Speeds (CPR) 3% to 10% 7 % Trading assets - Mortgages, mortgage-backed and asset-backed 377 Default Rates (CDR) 1% to 3% 2 %     Loss Severities 35% to 45% 41 % Instruments backed by commercial real estate assets $ 1,534 Discounted Cash Flow Yield 5% 5 % Other   Loss Severities 51% to 100% 88 %           Commercial loans, debt securities and other $ 6,787 Discounted Cash Flow, Market Comparables Yield 0% to 25% 5 % Loans, notes and mortgages 450 Enterprise Value/EBITDA multiple 2x to 11x 6 x Trading assets - Mortgages, mortgage-backed and asset-backed 4,437 Prepayment Speed 5% to 30% 20 % Trading assets - Corporate debt 1,900 Default Rates 1% to 5% 4 %     Loss Severity 25% to 40% 35 % Auction Rate Securities   Market Comparables       Trading assets - Municipals and money markets $ 1,295 Projected tender price / re-financing level 50% to 100% 90 % Long-term borrowings $ 1,316 Industry Standard Derivative Pricing (1) Equity Correlation 30% to 97% (2)      Long- Dated Volatilities 20% to 70% (2)  (1) Includes models such as Monte Carlo simulation and Black-Scholes. (2) For further information on the ranges of inputs for equity correlation and long-dated volatilities, refer to the qualitative equity derivatives disclosure below. CPR = Constant Prepayment Rate CDR = Constant Default Rate Quantitative Information about Level 3 Fair Value Measurements (dollars in millions)     Financial Instrument Fair Value Valuation Techniques Significant Unobservable Inputs Ranges of Inputs Net Derivative Contracts            Credit derivatives $ 1,632 Discounted Cash Flow, Stochastic Recovery Correlation Model Yield 2% to 25%     Credit spreads 58bps to 615bps     Upfront points 25 to 99 points     Spread to index -2,080bps to 1,972bps     Credit correlation 19% to 75%     Prepayment speed (CPR) 3% to 30%     Default rates (CDR) 1% to 5%     Loss severity 25% to 40%    Equity derivatives $ (814 ) Industry Standard Derivative Pricing (1) Equity Correlation 30% to 97%     Long-Dated Volatilities 20% to 70%    Commodity derivatives $ (5 ) Discounted Cash Flow Long-term Natural Gas Basis -$0.30 to $0.30    Interest rate derivatives $ 731 Industry Standard Derivative Pricing (1) Correlation (IR/IR) 15% to 99%     Correlation (FX/IR) -65% to 50%     Long-Dated Inflation Rates 2% to 3%     Long-Dated Inflation Volatilities 0% to 1%     Long-Dated Volatilities (FX) 5% to 36%     Long-Dated Swap Rates 8% to 10% Total net derivative contracts $ 1,544       (1)  Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. IR = Interest Rate FX = Foreign Exchange CPR = Constant Prepayment Rate CDR = Constant Default Ra
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis	The tables below show the fair value hierarchy for assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2012 and December 31, 2011. (dollars in millions)   Non-Recurring Basis   Gains/(Losses)   as of December 31, 2012   Year Ended     Level 2   Level 3   Total   December 31, 2012 Assets:                 Loans, notes and mortgages   $ 1   $ 221   $ 222   $ (80 ) Other   —   2   2   1                   (dollars in millions)                       Non-Recurring Basis   Gains/(Losses)   Gains/(Losses)   as of December 31, 2011   Year Ended   Year Ended     Level 2   Level 3   Total   December 31, 2011   December 31, 2010 Assets:                     Investment securities non-qualifying   $ —   $ 5   $ 5   $ (1 )   $ (32 ) Loans, notes and mortgages   298   245   543   (59 )   (19 ) Other assets   —   19   19   (8 )   (26 ) Liabilities:                     Other payables — interest and other   —   —   —   —   8
Fair Value Option	The following tables provide information about the line items in the Consolidated Statements of Earnings (Loss) where changes in fair values of assets and liabilities, for which the fair value option election has been made, are included for the years ended December 31, 2012, December 31, 2011 and December 31, 2010. (dollars in millions)   Changes in Fair Value For the Year Ended December 31, 2012, for Items Measured at Fair Value Pursuant to the Fair Value Option Election     Changes in Fair Value For the Year Ended December 31, 2011, for Items Measured at Fair Value Pursuant to the Fair Value Option Election   Gains/ (losses) Principal Transactions   Gains/ (losses) Other Revenues   Total Changes in Fair Value     Gains/ (losses) Principal Transactions   Gains/ (losses) Other Revenues   Total Changes in Fair Value Assets:                         Receivables under resale agreements $ (118 )   $ —   $ (118 )     $ 179   $ —   $ 179 Investment securities —   1   1     —   18   18 Loans 77   181   258     (31 )   30   (1 ) Other —   1   1     —   —   — Liabilities:                         Payables under repurchase agreements 36   —   36     (22 )   —   (22 ) Short-term borrowings 1   —   1     261   —   261 Other payables — interest and other —   99   99     —   (53 )   (53 ) Long-term borrowings (4,374 )   (35 )   (4,409 )     3,612   124   3,736   Changes in Fair Value For the Year Ended December 31, 2010, for Items Measured at Fair Value Pursuant to the Fair Value Option Election   Gains/ (losses) Principal Transactions   Gains/ (losses) Other Revenues   Total Changes in Fair Value Assets:           Receivables under resale agreements $ (24 )   $ —   $ (24 ) Investment securities —   107   107 Loans, notes and mortgages —   290   290 Liabilities:           Payables under repurchase agreements 13   —   13 Short-term borrowings 110   —   110 Other payables — interest and other —   13   13 Long-term borrowings 357   (115 )   242
Schedule Of Fair Value Option Elections	The following tables present the difference between fair values and the aggregate contractual principal amounts of receivables under resale agreements, receivables under securities borrowed transactions, loans and long-term borrowings for which the fair value option election has been made as of December 31, 2012 and December 31, 2011. (dollars in millions)             Fair Value at   Principal Amount Due Upon Maturity       December 31, 2012     Difference Assets:           Receivables under resale agreements $ 93,715   $ 93,433   $ 282 Receivables under securities borrowed transactions 961   892   69 Loans (1) 4,063   4,835   (772 ) Liabilities:           Long-term borrowings(2) 30,875   32,151   (1,276 ) (1) Includes trading loans with a fair value of $715 million and margin loans with a fair value of $271 million. (2) The majority of the difference between the fair value and principal amount due upon maturity at December 31, 2012 relates to the impact of changes in Merrill Lynch's credit spreads, as well as the fair value of the embedded derivative, where applicable. (dollars in millions)   Fair Value at   Principal Amount Due Upon Maturity       December 31, 2011     Difference Assets:           Receivables under resale agreements (1)  $ 85,652   $ 85,197   $ 455 Receivables under securities borrowed transactions 259   287   (28 ) Loans, notes and mortgages 2,742   4,023   (1,281 ) Liabilities:           Long-term borrowings (2) 30,325   36,537   (6,212 ) (1) Includes loans held for sale with a fair value of $420 million, accounted for under the fair value option, which were reclassified to trading assets because they are risk managed on that basis. (2) The majority of the difference between the fair value and principal amount due upon maturity at December 31, 2011 relates to the impact of changes in Merrill Lynch's credit spreads, as well as the fair value of the embedded derivative, where applicabl