Fair Value Disclosures (Tables)

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Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2013
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	(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 26,834   2,936   353   —   30,123 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 78,140   79,787   8,808   —   166,735   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 Other debt securities carried at fair value (3)                       Non-U.S. governments and agencies 7,422   300   —   —   7,722 Total other debt securities carried at fair value 7,422   300   —   —   7,722 Investment securities non-qualifying 2,254   1,056   287   —   3,597 Total investment securities 10,066   1,614   295   —   11,975 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)  See Note 6 for product level detail. (3)  Certain assets that are used for liquidity management purposes were reclassified from Trading assets to Other debt securities carried at fair value during the six months ended June 30, 2013. Prior period amounts have been reclassified to conform with the current period presentation. 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 June 30, 2013 and December 31, 2012, respectively. (dollars in millions)   Fair Value Measurements on a Recurring Basis   as of June 30, 2013   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 $ 24   $ 2,492   $ —   $ —   $ 2,516 U.S. Government and agencies 4,976   573   —   —   5,549 Total securities segregated for regulatory purposes or deposited with clearing organizations 5,000   3,065   —   —   8,065 Receivables under resale agreements —   99,001   —   —   99,001 Receivables under securities borrowed transactions —   1,954   —   —   1,954 Trading assets, excluding derivative contracts:                   Equities 22,323   11,081   216   —   33,620 Convertible debentures —   3,569   17   —   3,586 Non-U.S. governments and agencies 28,574   2,805   401   —   31,780 Corporate debt —   15,193   1,764   —   16,957 Preferred stock —   269   137   —   406 Mortgages, mortgage-backed and asset-backed —   5,302   4,586   —   9,888 U.S. Government and agencies 23,942   12,098   —   —   36,040 Municipals and money markets 1,333   6,595   204   —   8,132 Physical commodities and other —   744   —   —   744 Total trading assets, excluding derivative contracts 76,172   57,656   7,325   —   141,153 Derivative contracts(2) 4,730   484,350   5,592   (467,039 )   27,633 Investment securities available-for-sale:                   U.S. Government and agencies 402   —   —   —   402 Securities, mortgage-backed and asset backed                        Non-agency MBS —   1   —   —   1      Corporate ABS —   201   8   —   209 Total investment securities available-for-sale 402   202   8   —   612 Other debt securities carried at fair value (3)                       Non-U.S. governments and agencies 8,288   460   —   —   8,748 Total other debt securities carried at fair value 8,288   460   —   —   8,748 Investment securities non-qualifying 1,880   1,115   288   —   3,283 Total investment securities 10,570   1,777   296   —   12,643 Securities received as collateral 11,311   1,271   —   —   12,582 Loans, notes and mortgages —   486   815   —   1,301    Other —   —   267   —   267 Liabilities:                   Payables under repurchase agreements —   59,926   —   —   59,926 Short-term borrowings —   1,389   —   —   1,389 Trading liabilities, excluding derivative contracts:                   Equities 19,783   3,112   —   —   22,895 Convertible debentures —   223   —   —   223 Non-U.S. governments and agencies 22,620   1,670   —   —   24,290 Corporate debt —   8,483   9   —   8,492 Preferred stock —   85   —   —   85 U.S. Government and agencies 18,794   411   —   —   19,205 Municipals, money markets and other 482   105   46   —   633 Total trading liabilities, excluding derivative contracts 61,679   14,089   55   —   75,823  Derivative contracts(2) 4,644   483,697   3,917   (467,085 )   25,173 Obligation to return securities received as collateral 11,311   1,271   —   —   12,582 Other payables — interest and other —   47   5   —   52 Long-term borrowings —   26,882   1,082   —   27,964                     (1)  Represents counterparty and cash collateral netting. (2)  See Note 6 for product level detail. (3)  Certain assets that are used for liquidity management purposes were reclassified from Trading assets to Other debt securities carried at fair value during the six months ended June 30, 2013. Prior period amounts have been reclassified to conform with the current period presentation.
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	The following tables provide a summary of changes in Merrill Lynch’s Level 3 financial assets and liabilities for the three and six months ended June 30, 2013 and June 30, 2012. (dollars in millions)                                                     Level 3 Financial Assets and Liabilities Three Months Ended June 30, 2013       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 $ 175   $ 14   $ —   $ —   $ 14   $ —   (20 )   27   $ —   —   $ 29   $ (9 )   $ 216 Convertible debentures 14   (1 )   —   —   (1 )   —   —   6   —   —   —   (2 )   17 Non-U.S. governments and agencies 417   (6 )   —   —   (6 )   —   —   11   —   (22 )   1   —   401 Corporate debt 1,840   10   —   —   10   —   (250 )   176   —   (88 )   202   (126 )   1,764 Preferred stock 208   (3 )   —   —   (3 )   —   (15 )   1   —   —   —   (54 )   137 Mortgages, mortgage-backed and asset-backed 4,368   11   —   —   11   —   (676 )   972   —   (69 )   —   (20 )   4,586 Municipals and money markets 1,079   3   —   —   3   —   (429 )   76   —   —   2   (527 )   204 Total trading assets, excluding derivative contracts 8,101   28   —   —   28   —   (1,390 )   1,269   —   (179 )   234   (738 )   7,325 Derivative contracts, net 1,182   264   —   —   264   —   (143 )   179   —   4   (117 )   306   1,675 Investment securities available-for-sale :                                                   Corporate ABS 8   —   —   —   —   —   —   —   —   —   —   —   8 Total investment securities available-for-sale 8   —   —   —   —   —   —   —   —   —   —   —   8 Investment securities non-qualifying 288   —   (3 )   —   (3 )   —   —   21   —   (18 )   —   —   288 Total investment securities 296   —   (3 )   —   (3 )   —   —   21   —   (18 )   —   —   296 Loans, notes and mortgages 1,436   —   12   7   19   —   (180 )   8   —   (465 )   —   (3 )   815 Other 1,086   —   (6 )     (6 )   —   —   —   —   (813 )   —   —   267 Liabilities:                                                   Trading liabilities, excluding derivative contracts:                                                   Corporate debt 16   2   —   —   2   —   4   (1 )   —   —   1   (9 )   9 Municipals, money markets and other 42   4   —   —   4   —   13   (10 )   5   —   —   —   46 Total trading liabilities, excluding derivative contracts 58   6   —   —   6   —   17   (11 )   5   —   1   (9 )   55 Other payables - interest and other 4   —   —   —   —   —   —   —   —   —   1   —   5 Long-term borrowings 1,285   58   (5 )   —   53   —   —   (154 )   52   (44 )   94   (98 )   1,082                                                     Transfers in and out related to corporate debt reflected changes in third party prices available for certain corporate loans. Transfers out for municipals and money markets reflected increased trading activity for certain ARS.  Transfers in for derivative contracts, net were primarily due to additional information related to certain total return swaps ("TRS").  Transfers out for derivative contracts, net related to additional market comparables on certain option contracts.  Transfers in and out related to long-term borrowings were primarily due to changes in the impact of unobservable inputs on the value of certain equity-linked structured notes.                                                       (dollars in millions)                                                     Level 3 Financial Assets and Liabilities Six Months Ended June 30, 2013       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 $ 178   $ 34   $ —   $ —   $ 34   $ —   (70 )   50   $ —   —   $ 36   $ (12 )   $ 216 Convertible debentures 15   (1 )   —   —   (1 )   —   (2 )   6   —   —   2   (3 )   17 Non-U.S. governments and agencies 353   45   —   —   45   —   (1 )   26   —   (22 )   1   (1 )   401 Corporate debt 1,900   64   —   —   64   —   (485 )   363   —   (209 )   360   (229 )   1,764 Preferred stock 253   19   —   —   19   —   (74 )   7   —   —   1   (69 )   137 Mortgages, mortgage-backed and asset-backed 4,814   173   —   —   173   —   (1,311 )   1,625   —   (698 )   3   (20 )   4,586 Municipals and money markets 1,295   28   —   —   28   —   (1,080 )   431   —   (1 )   58   (527 )   204 Total trading assets, excluding derivative contracts 8,808   362   —   —   362   —   (3,023 )   2,508   —   (930 )   461   (861 )   7,325 Derivative contracts, net 1,544   78   —   —   78   —   (369 )   271   —   (87 )   (41 )   279   1,675 Investment securities available-for-sale :                                                   Corporate ABS 8   —   —   —   —   —   —   —   —   —   —   —   8 Total investment securities available-for-sale 8   —   —   —   —   —   —   —   —   —   —   —   8 Investment securities non-qualifying 287   —   (6 )   —   (6 )   —   (7 )   32   —   (18 )   —   —   288 Total investment securities 295   —   (6 )   —   (6 )   —   (7 )   32   —   (18 )   —   —   296 Loans, notes and mortgages 1,681   —   (40 )   14   (26 )   —   (366 )   8     (479 )   —   (3 )   815 Other 1,534   —   (454 )   —   (454 )   —   —   —     (813 )   —   —   267 Liabilities:                                                   Trading liabilities, excluding derivative contracts:                                                   Corporate debt 31   2   —   —   2   —   6   (6 )   —   —   9   (29 )   9 Municipals, money markets and other 32   4   —   —   4   —   24   (12 )   6   —   —   —   46 Total trading liabilities, excluding derivative contracts 63   6   —   —   6   —   30   (18 )   6   —   9   (29 )   55 Other payables - interest and other 7   —   —   —   —   —   —   —   —   (2 )   1   (1 )   5 Long-term borrowings 1,316   80   (9 )   —   71   —   4   (223 )   88   (91 )   279   (220 )   1,082                                                     (dollars in millions)                                                     Level 3 Financial Assets and Liabilities Three Months Ended June 30, 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 $ 178   $ (6 )   $ —   $ —   $ (6 )   $ —   $ (13 )   $ 1   $ —   $ —   $ 25   $ —   $ 185 Convertible debentures 43   (2 )   —   —   (2 )   —   —   —   —   —   —   (7 )   34 Non-U.S. governments and agencies 546   (26 )   —   —   (26 )   —   (164 )   35   —   (1 )   —   (1 )   389 Corporate debt (1) 3,418   6   —   —   6   —   (1,232 )   189   —   (285 )   92   (82 )   2,106 Preferred stock 207   (1 )   —   —   (1 )   —   (22 )   44   —   —   —   —   228 Mortgages, mortgage-backed and asset-backed (1) 3,768   (38 )   —   —   (38 )   —   (163 )   1,164   —   (153 )   —   —   4,578 Municipals and money markets 2,009   15   —   —   15   —   (187 )   73   —   (180 )   —   —   1,730 Total trading assets, excluding derivative contracts 10,169   (52 )   —   —   (52 )   —   (1,781 )   1,506   —   (619 )   117   (90 )   9,250 Derivative contracts, net 3,207   159   —   —   159   —   (121 )   207   —   29   (38 )   (29 )   3,414 Investment securities available-for-sale :                                                   Corporate ABS 45   —   —   —   —   —   —   —   —   (37 )   —   —   8 Total investment securities available-for-sale 45   —   —   —   —   —   —   —   —   (37 )   —   —   8 Investment securities non-qualifying 421   —   1   —   1   —   (77 )   —   —   (12 )   —   —   333 Total investment securities 466   —   1   —   1   —   (77 )   —   —   (49 )   —   —   341 Loans, notes and mortgages 1,809   —   19   8   27   —   (16 )   3   —   (47 )   —   —   1,776     Other assets 1,302   —   (39 )   —   (39 )   —   —   —   —   —   —   —   1,263 Liabilities:                                                   Trading liabilities, excluding derivative contracts:                                                   Corporate debt —   —   —   —   —   —   16   (6 )   —   1   1   (3 )   9 Preferred stock 14   —   —   —   —   —   9   (1 )   —   —   —   (13 )   9 Municipals, money markets and other 45   4   —   —   4   —   3   —   —   —   —   —   44 Total trading liabilities, excluding derivative contracts 59   4   —   —   4   —   28   (7 )   —   1   1   (16 )   62 Other payables - interest and other 3   —   1   —   1   —   —   —   —   —   —   —   2 Long-term borrowings 1,743   80   9   —   89   —   —   (30 )   53   (252 )   219   (175 )   1,469                                                     (1) During the second quarter of 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.
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 the three and six months ended June 30, 2013 and June 30, 2012 attributable to unrealized gains or losses relating to those Level 3 assets and liabilities held at June 30, 2013 and June 30, 2012, respectively. (dollars in millions)                         Unrealized Gains or (Losses) for Level 3 Assets and Liabilities Still Held   Three Months Ended June 30, 2013   Six Months Ended June 30, 2013   Principal Transactions   Other Revenue   Total   Principal Transactions   Other Revenue   Total Assets:                       Trading assets, excluding derivative contracts:                       Equities $ 10   $ —   $ 10   $ (13 )   $ —   $ (13 ) Convertible debentures (1 )   —   (1 )   (2 )   —   (2 ) Non-U.S. governments and agencies (18 )   —   (18 )   63   —   63 Corporate debt (11 )   —   (11 )   25   —   25 Preferred stock (3 )   —   (3 )   8   —   8 Mortgages, mortgage-backed and asset-backed (8 )   —   (8 )   61   —   61 Municipals and money markets 1   —   1   9   —   9 Total trading assets, excluding derivative contracts (30 )   —   (30 )   151   —   151 Derivative contracts, net 188     188   (35 )   —   (35 ) Investment securities non-qualifying —   (3 )   (3 )   —   (8 )   (8 ) Loans, notes and mortgages —   12   12   —   (32 )   (32 ) Other —   (6 )   (6 )   —   (4 )   (4 ) Liabilities:                       Trading liabilities, excluding derivative contracts:                       Corporate debt 2   —   2   1   —   1 Total trading liabilities, excluding derivative contracts 2   —   2   1   —   1 Long-term borrowings 58   (5 )   53   55   (9 )   46 (dollars in millions)                         Unrealized Gains or (Losses) for Level 3 Assets and Liabilities Still Held   Three Months Ended June 30, 2012   Six Months Ended June 30, 2012   Principal Transactions   Other Revenue   Total   Principal Transactions   Other Revenue   Total Assets:                       Trading assets, excluding derivative contracts:                       Equities $ (6 )   $ —   $ (6 )   $ 1   $ —   $ 1 Convertible debentures (2 )   —   (2 )   —   —   — Non-U.S. governments and agencies (25 )   —   (25 )   —   —   — Corporate debt (35 )   —   (35 )   3   —   3 Preferred stock (1 )   —   (1 )   2   —   2 Mortgages, mortgage-backed and asset-backed (45 )   —   (45 )   (7 )   —   (7 ) Municipals and money markets 6   —   6   (3 )   —   (3 ) Total trading assets, excluding derivative contracts (108 )   —   (108 )   (4 )   —   (4 ) Derivative contracts, net 173   —   173   (429 )   —   (429 ) Investment securities non-qualifying —   1   1   —   (10 )   (10 ) Loans, notes and mortgages —   13   13   —   110   110 Other assets —   (39 )   (39 )   —   (86 )   (86 )                         Liabilities:                       Trading liabilities, excluding derivative contracts:                       Preferred stock —   —   —   (2 )   —   (2 ) Municipals, money markets and other 3   —   3   3   —   3 Total trading liabilities, excluding derivative contracts 3   —   3   1   —   1 Other payables — interest and other —   1   1   —   —   — Long-term borrowings 82   9   91   (12 )   —   (12 )
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 at June 30, 2013 and December 31, 2012. Quantitative Information about Level 3 Fair Value Measurements at June 30, 2013 (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 $ 1,075 Discounted Cash Flow, Market Comparables Yield 4% to 25% 8 % Loans, notes and mortgages 641 Prepayment Speeds (CPR) 3% to 10% 7 % Trading assets - Mortgages, mortgage-backed and asset-backed 434 Default Rates (CDR) 1% to 3% 2 %   Loss Severities 35% to 45% 41 % Commercial loans, debt securities and other $ 6,090 Discounted Cash Flow, Market Comparables Yield 0% to 35% 7 % Loans, notes and mortgages 174 Enterprise Value/EBITDA multiple 0x to 18x 7 x Trading assets - Mortgages, mortgage-backed and asset-backed 4,152 Prepayment Speed 5% to 40% 20 % Trading assets - Corporate debt 1,764 Default Rates 1% to 4% 4 %   Loss Severity 25% to 40% 35 % Long-term borrowings $ 1,082 Industry Standard Derivative Pricing (1) Equity Correlation 30% to 100% 63 %   Long- Dated Volatilities 4% to 70% 24 % (1) Includes models such as Monte Carlo simulation and Black-Scholes. CPR = Constant Prepayment Rate CDR = Constant Default Rate Quantitative Information about Level 3 Fair Value Measurements at June 30, 2013 (dollars in millions)       Financial Instrument Fair Value Valuation Techniques Significant Unobservable Inputs Ranges of Inputs Weighted Average Net Derivative Contracts          Credit derivatives $ 1,399 Discounted Cash Flow, Stochastic Recovery Correlation Model Yield 4% to 25% 15  %   Credit spreads 56 bps to 184 bps 173 bps   Upfront points 0 to 100 points 53 points   Spread to index -1,745 bps to 1,852 bps 208 bps   Credit correlation 28% to 81% 52  %   Prepayment speed (CPR) 3% to 20% 9  %   Default rates (CDR) 1% to 4% 3  %   Loss severity 20% to 35% 35  %    Equity derivatives $ (223 ) Industry Standard Derivative Pricing (1) Equity Correlation 30% to 100% 63  %   Long-Dated Volatilities 4% to 70% 24  %    Commodity derivatives $ 5 Discounted Cash Flow, Industry Standard Derivative Pricing (1) Natural gas forward price $3/MMBtu to $12/MMBtu $7/MMBtu     Correlation 47% to 95% 79  %     Volatilities 9% to 301% 34  %    Interest rate derivatives $ 494 Industry Standard Derivative Pricing (1) Correlation (IR/IR) 24% to 99% 51  %   Correlation (FX/IR) -65% to 50% -12  %   Long-Dated Inflation Rates 1% to 3% 2  %   Long-Dated Inflation Volatilities 0% to 2% 1  % Total net derivative contracts $ 1,675         (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 Rate MMBtu = Million British thermal units (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 Discounted Cash Flow Yield 5% 5 % Other $ 1,534 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, see the qualitative equity derivatives disclosure below. CPR = Constant Prepayment Rate CDR = Constant Default Rate Quantitative Information about Level 3 Fair Value Measurements at December 31, 2012 (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 Natural gas forward price $3/MMBtu to $12/MMBtu    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 Rate MMBtu = Million British thermal units
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 June 30, 2013 and December 31, 2012. (dollars in millions)               Non-Recurring Basis   Gains/(Losses)   Gains/(Losses)   Gains/(Losses)   Gains/(Losses)   as of June 30, 2013   Three Months Ended   Six Months Ended   Three Months Ended   Six Months Ended     Level 2   Level 3   Total   June 30, 2013   June 30, 2013   June 30, 2012   June 30, 2012 Assets:                             Loans, notes and mortgages   $ 1   $ 132   $ 133   $ (1 )   $ (2 )   $ (53 )   $ (40 ) Other   —   2   2   —   —   —   — Liabilities:                             Other payables — interest and other   —   —   —   —   —   4   3 (dollars in millions)   Non-Recurring Basis   as of December 31, 2012     Level 2   Level 3   Total Assets:             Loans, notes and mortgages   $ 1   $ 221   $ 222 Other   —   2   2
Fair Value Option	The following tables provide information about the line items in the Condensed 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 three and six months ended June 30, 2013 and June 30, 2012. (dollars in millions)   Changes in Fair Value For the Three Months Ended June 30, 2013, for Items Measured at Fair Value Pursuant to the Fair Value Option Election     Changes in Fair Value For the Six Months Ended June 30, 2013, 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 $ (8 )   $ —   $ (8 )     $ 30   $ —   $ 30 Investment securities —   (3 )   (3 )     —   (3 )   (3 ) Loans 11   14   25     26   (42 )   (16 ) Other —   (6 )   (6 )     —   (3 )   (3 ) Liabilities:                         Payables under repurchase agreements 4   —   4     (16 )   —   (16 ) Short-term borrowings 11   —   11     (28 )   —   (28 ) Other payables — interest and other —   4   4     —   17   17 Long-term borrowings 903   —   903     (29 )   —   (29 )
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 June 30, 2013 and December 31, 2012. (dollars in millions)             Fair Value at   Principal Amount Due Upon Maturity       June 30, 2013     Difference Assets:           Receivables under resale agreements $ 99,001   $ 98,704   $ 297 Receivables under securities borrowed transactions 1,954   1,980   (26 ) Loans (1) 2,472   3,163   (691 )             Liabilities:           Long-term borrowings (2) (3) 27,964   28,629   (665 ) (1)  Includes trading loans with a fair value of $904 million and margin loans with a fair value of $267 million. (2)  The majority of the difference between the fair value and principal amount due upon maturity at June 30, 2013 relates to the impact of changes in Merrill Lynch's credit spreads, as well as the fair value of the embedded derivative, where applicable. (3)  Includes structured liabilities with a fair value of $18.6 billion and principal amount due upon maturity of $19.0 billion as of June 30, 2013. (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) (3) 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 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. (3)  Includes structured liabilities with a fair value of $22.0 billion and principal amount due upon maturity of $22.7 billion as of December 31, 2012.