Quarterly report [Sections 13 or 15(d)]

Derivatives - Credit Derivatives (Details)

v3.26.1
Derivatives - Credit Derivatives (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Carrying Value of Credit Derivatives    
Total $ 356,200 $ 297,600
Carrying Value of Credit-related Notes    
Less than One Year 0 0
One to Three Years 13 4
Three to Five Years 45 29
Over Five Years 1,951 2,106
Total 2,009 2,139
Credit derivatives | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 2,356 1,406
One to Three Years 832 623
Three to Five Years 469 499
Over Five Years 456 438
Total 4,113 2,966
Maximum Payout/Notional    
Less than One Year 208,510 160,657
One to Three Years 158,861 139,729
Three to Five Years 246,018 219,979
Over Five Years 27,672 26,292
Total 641,061 546,657
Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 9 60
One to Three Years 340 532
Three to Five Years 418 425
Over Five Years 403 437
Total 1,170 1,454
Maximum Payout/Notional    
Less than One Year 71,578 64,070
One to Three Years 156,517 135,345
Three to Five Years 244,206 218,044
Over Five Years 26,853 25,420
Total 499,154 442,879
Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 2,347 1,346
One to Three Years 492 91
Three to Five Years 51 74
Over Five Years 53 1
Total 2,943 1,512
Maximum Payout/Notional    
Less than One Year 136,932 96,587
One to Three Years 2,344 4,384
Three to Five Years 1,812 1,935
Over Five Years 819 872
Total 141,907 103,778
Investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 0 0
One to Three Years 0 0
Three to Five Years 6 3
Over Five Years 808 970
Total 814 973
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 12 7
Over Five Years 25 34
Total 37 41
Maximum Payout/Notional    
Less than One Year 54,356 48,636
One to Three Years 118,738 100,059
Three to Five Years 180,156 168,131
Over Five Years 23,682 22,048
Total 376,932 338,874
Investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 34 88
One to Three Years 0 2
Three to Five Years 0 0
Over Five Years 0 0
Total 34 90
Maximum Payout/Notional    
Less than One Year 88,877 61,269
One to Three Years 1,321 1,507
Three to Five Years 1,501 1,419
Over Five Years 341 352
Total 92,040 64,547
Non-investment grade    
Carrying Value of Credit-related Notes    
Less than One Year 0 0
One to Three Years 13 4
Three to Five Years 39 26
Over Five Years 1,143 1,136
Total 1,195 1,166
Non-investment grade | Credit default swaps: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 9 60
One to Three Years 340 532
Three to Five Years 406 418
Over Five Years 378 403
Total 1,133 1,413
Maximum Payout/Notional    
Less than One Year 17,222 15,434
One to Three Years 37,779 35,286
Three to Five Years 64,050 49,913
Over Five Years 3,171 3,372
Total 122,222 104,005
Non-investment grade | Total return swaps/options: | Written credit derivatives:    
Carrying Value of Credit Derivatives    
Less than One Year 2,313 1,258
One to Three Years 492 89
Three to Five Years 51 74
Over Five Years 53 1
Total 2,909 1,422
Maximum Payout/Notional    
Less than One Year 48,055 35,318
One to Three Years 1,023 2,877
Three to Five Years 311 516
Over Five Years 478 520
Total $ 49,867 $ 39,231