Commitments, Guarantees and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments


	Years to Maturity at March 31, 2026
$ in millions	Less than 1		1-3		3-5		Over 5		Total
Lending:
Corporate	$	19,756	$	48,423	$	80,382	$	6,559	$	155,120
Secured lending facilities	6,309		8,156		10,132		6,524		31,121
Commercial and Residential real estate	423		45		165		466		1,099
Securities-based lending and Other	17,475		3,404		247		507		21,633
Forward-starting secured financing receivables1	156,477		2,278		—		—		158,755
Central counterparty	15,226		—		—		—		15,226

Investment activities	2,177		580		108		502		3,367
Letters of credit and other financial guarantees	32		—		—		4		36
Total	$	217,875	$	62,886	$	91,034	$	14,562	$	386,357
Lending commitments participated to third parties									$	13,373

1.These amounts primarily include secured financing receivables yet to settle as of March 31, 2026, with settlement generally occurring within three business days. These amounts also include commitments to enter into certain collateralized financing transactions.

Schedule of Obligations under Guarantee Arrangements

Guarantees


	At March 31, 2026
	Maximum Potential Payout/Notional of Obligations by Years to Maturity								Carrying Amount Asset (Liability)
$ in millions	Less than 1		1-3		3-5		Over 5
Non-credit derivatives1	$	1,522,376	$	795,403	$	210,745	$	602,124	$	(58,510)
Standby letters of credit and other financial guarantees issued2,3	1,672		957		1,264		2,577		15

Liquidity facilities	3,549		—		—		—		3
Whole loan sales guarantees	34		—		1		23,071		—
Securitization representations and warranties4	—		—		—		98,492		—
General partner guarantees	122		119		95		27		(58)
Client clearing guarantees	1,957		—		—		—		—

1.The carrying amounts of derivative contracts that meet the accounting definition of a guarantee are shown on a gross basis. For further information on derivatives contracts, see Note 6.

2.These amounts include certain issued standby letters of credit participated to third parties, totaling $0.6 billion of notional and collateral/recourse, due to the nature of the Firm’s obligations under these arrangements.

3.As of March 31, 2026, the carrying amount of standby letters of credit and other financial guarantees issued includes an allowance for credit losses of $52 million.

4.Related to commercial, residential mortgage and asset backed securitizations.