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Securities Financing Transactions (Tables)
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6 Months Ended |
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Jun. 30, 2013
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| Securities Financing Transactions [Abstract] |
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| Schedule of Financial Instruments Owned and Pledged as Collateral |
The carrying value and classification of securities owned by Merrill Lynch that have been pledged to counterparties where those counterparties do not have the right to sell or repledge at June 30, 2013 and December 31, 2012 are as follows:
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(dollars in millions) |
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June 30, 2013 |
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|
December 31, 2012 |
Trading asset category |
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Equities and convertible debentures |
$ |
13,234 |
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|
|
$ |
11,732 |
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Corporate debt and preferred stock |
5,358 |
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|
|
8,368 |
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U.S. Government and agencies |
9,531 |
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|
|
41,236 |
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Non-U.S. governments and agencies |
2,164 |
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|
|
1,707 |
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Mortgages, mortgage-backed, and asset-backed securities |
1,813 |
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|
|
4,547 |
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Municipals and money markets |
282 |
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|
|
2,469 |
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Total |
$ |
32,382 |
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|
|
$ |
70,059 |
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| Offsetting Assets |
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Offsetting of Securities Financing Agreements |
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Assets |
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June 30, 2013 |
(dollars in millions) |
Gross Assets |
|
Amounts Offset |
|
Net Balance Sheet Amount |
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Financial Instruments |
|
Net Asset |
Receivables under resale agreements |
$ |
217,062 |
|
|
$ |
(74,745 |
) |
|
$ |
142,317 |
|
|
$ |
(112,136 |
) |
|
$ |
30,181 |
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Receivables under securities borrowed transactions |
93,591 |
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|
(19,792 |
) |
|
73,799 |
|
|
(54,917 |
) |
|
18,882 |
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Total |
$ |
310,653 |
|
|
$ |
(94,537 |
) |
|
$ |
216,116 |
|
|
$ |
(167,053 |
) |
|
$ |
49,063 |
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|
|
|
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|
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December 31, 2012 |
|
Gross Assets |
|
Amounts Offset |
|
Net Balance Sheet Amount |
|
Financial Instruments |
|
Net Asset |
Receivables under resale agreements |
$ |
276,275 |
|
|
$ |
(127,458 |
) |
|
$ |
148,817 |
|
|
$ |
(121,422 |
) |
|
$ |
27,395 |
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Receivables under securities borrowed transactions |
71,309 |
|
|
(10,317 |
) |
|
60,992 |
|
|
(43,660 |
) |
|
17,332 |
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Total |
$ |
347,584 |
|
|
$ |
(137,775 |
) |
|
$ |
209,809 |
|
|
$ |
(165,082 |
) |
|
$ |
44,727 |
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| Offsetting Liabilities |
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Liabilities |
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June 30, 2013 |
(dollars in millions) |
Gross Liabilities |
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Amounts Offset |
|
Net Balance Sheet Amount |
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Financial Instruments |
|
Net Liability |
Payables under repurchase agreements |
$ |
260,605 |
|
|
$ |
(74,745 |
) |
|
$ |
185,860 |
|
|
$ |
(129,439 |
) |
|
$ |
56,421 |
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Payables under securities loaned transactions |
39,989 |
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|
(19,792 |
) |
|
20,197 |
|
|
(14,590 |
) |
|
5,607 |
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Other |
12,582 |
|
|
— |
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|
12,582 |
|
|
(12,575 |
) |
|
7 |
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Total |
$ |
313,176 |
|
|
$ |
(94,537 |
) |
|
$ |
218,639 |
|
|
$ |
(156,604 |
) |
|
$ |
62,035 |
|
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|
|
|
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|
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December 31, 2012 |
|
Gross Liabilities |
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Amounts Offset |
|
Net Balance Sheet Amount |
|
Financial Instruments |
|
Net Liability |
Payables under repurchase agreements |
$ |
347,168 |
|
|
$ |
(127,458 |
) |
|
$ |
219,710 |
|
|
$ |
(153,414 |
) |
|
$ |
66,296 |
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Payables under securities loaned transactions |
28,622 |
|
|
(10,317 |
) |
|
18,305 |
|
|
(14,598 |
) |
|
3,707 |
|
Other |
16,013 |
|
|
— |
|
|
16,013 |
|
|
(16,009 |
) |
|
4 |
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Total |
$ |
391,803 |
|
|
$ |
(137,775 |
) |
|
$ |
254,028 |
|
|
$ |
(184,021 |
) |
|
$ |
70,007 |
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