Quarterly report [Sections 13 or 15(d)]

Derivatives - Credit Derivatives (Details)

v3.26.1
Derivatives - Credit Derivatives (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Carrying Value of Credit Derivatives    
Total $ 333,000 $ 297,600
Carrying Value of Credit-related Notes    
Less than One Year 1 0
One to Three Years 9 4
Three to Five Years 32 29
Over Five Years 1,952 2,106
Total 1,994 2,139
Credit derivatives | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,324 1,406
One to Three Years 1,232 623
Three to Five Years 683 499
Over Five Years 478 438
Total 3,717 2,966
Maximum Payout/Notional    
Less than One Year 235,759 160,657
One to Three Years 141,821 139,729
Three to Five Years 305,233 219,979
Over Five Years 77,437 26,292
Total 760,250 546,657
Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 33 60
One to Three Years 572 532
Three to Five Years 618 425
Over Five Years 477 437
Total 1,700 1,454
Maximum Payout/Notional    
Less than One Year 65,565 64,070
One to Three Years 136,901 135,345
Three to Five Years 303,469 218,044
Over Five Years 76,281 25,420
Total 582,216 442,879
Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,291 1,346
One to Three Years 660 91
Three to Five Years 65 74
Over Five Years 1 1
Total 2,017 1,512
Maximum Payout/Notional    
Less than One Year 170,194 96,587
One to Three Years 4,920 4,384
Three to Five Years 1,764 1,935
Over Five Years 1,156 872
Total 178,034 103,778
Investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 0 0
One to Three Years 0 0
Three to Five Years 0 3
Over Five Years 675 970
Total 675 973
Investment grade | Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 0 0
One to Three Years 0 0
Three to Five Years 21 7
Over Five Years 48 34
Total 69 41
Maximum Payout/Notional    
Less than One Year 49,109 48,636
One to Three Years 100,702 100,059
Three to Five Years 230,590 168,131
Over Five Years 59,367 22,048
Total 439,768 338,874
Investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 195 88
One to Three Years 1 2
Three to Five Years 0 0
Over Five Years 0 0
Total 196 90
Maximum Payout/Notional    
Less than One Year 128,850 61,269
One to Three Years 1,432 1,507
Three to Five Years 1,386 1,419
Over Five Years 622 352
Total 132,290 64,547
Non-investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 1 0
One to Three Years 9 4
Three to Five Years 32 26
Over Five Years 1,277 1,136
Total 1,319 1,166
Non-investment grade | Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 33 60
One to Three Years 572 532
Three to Five Years 597 418
Over Five Years 429 403
Total 1,631 1,413
Maximum Payout/Notional    
Less than One Year 16,456 15,434
One to Three Years 36,199 35,286
Three to Five Years 72,879 49,913
Over Five Years 16,914 3,372
Total 142,448 104,005
Non-investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 1,096 1,258
One to Three Years 659 89
Three to Five Years 65 74
Over Five Years 1 1
Total 1,821 1,422
Maximum Payout/Notional    
Less than One Year 41,344 35,318
One to Three Years 3,488 2,877
Three to Five Years 378 516
Over Five Years 534 520
Total $ 45,744 $ 39,231