v3.26.1
Fair value measurement - Assets and Liabilities on Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Trading assets:    
Total derivatives fair value $ 10,334 $ 6,614
Effect of master netting agreements (6,797) (5,224)
Total derivative assets 3,537 1,390
Trading assets 16,836 14,276
Other assets 2,125 1,666
Trading liabilities:    
Total derivatives fair value 9,782 6,462
Effect of master netting agreements (7,098) (3,831)
Derivative liabilities 2,684 2,631
Other liabilities 662 617
Interest rate contracts    
Trading assets:    
Effect of master netting agreements (843) (685)
Trading liabilities:    
Effect of master netting agreements (495) (456)
Foreign exchange contracts    
Trading assets:    
Effect of master netting agreements (5,856) (4,523)
Trading liabilities:    
Effect of master netting agreements (6,568) (3,348)
Equity contracts    
Trading assets:    
Effect of master netting agreements (98) (16)
Trading liabilities:    
Effect of master netting agreements (35) (27)
Not designated as hedging    
Trading assets:    
Total derivatives fair value 9,762 6,256
Trading liabilities:    
Total derivatives fair value 9,732 6,381
Not designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 791 718
Trading liabilities:    
Total derivatives fair value 1,018 973
Not designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 8,836 5,517
Trading liabilities:    
Total derivatives fair value 8,666 5,351
Not designated as hedging | Equity contracts    
Trading assets:    
Total derivatives fair value 135 21
Trading liabilities:    
Total derivatives fair value 38 44
Designated as hedging    
Trading assets:    
Total derivatives fair value 572 358
Trading liabilities:    
Total derivatives fair value 50 81
Designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 311 305
Trading liabilities:    
Total derivatives fair value 24 0
Designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 261 53
Trading liabilities:    
Total derivatives fair value 26 81
NAV    
Trading assets:    
Assets measured at NAV 154 155
Measured at fair value on a recurring basis | Operating segments    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 107,400 102,106
Trading assets:    
Debt instruments 5,610 6,204
Equity instruments 8,261 7,040
Effect of master netting agreements (6,797) (5,224)
Trading assets 16,836 14,276
Other assets 1,399 1,153
Total other assets 1,971 1,511
Total assets 126,361 118,048
Trading liabilities:    
Total trading liabilities 5,299 6,135
Effect of master netting agreements (7,098) (3,831)
Other liabilities 612 536
Total other liabilities 662 617
Total liabilities 5,961 6,752
Measured at fair value on a recurring basis | Operating segments | U.S. Treasury    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 29,892 25,711
Measured at fair value on a recurring basis | Operating segments | Non-U.S. government    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 27,664 28,568
Measured at fair value on a recurring basis | Operating segments | Agency residential mortgage-backed securities (“RMBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 22,955 21,220
Measured at fair value on a recurring basis | Operating segments | Foreign covered bonds    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 7,885 8,068
Measured at fair value on a recurring basis | Operating segments | Agency commercial mortgage-backed securities (“MBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 6,659 6,780
Measured at fair value on a recurring basis | Operating segments | Collateralized loan obligations (“CLOs”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 7,003 6,118
Measured at fair value on a recurring basis | Operating segments | Non-agency commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,967 2,196
Measured at fair value on a recurring basis | Operating segments | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,538 1,554
Measured at fair value on a recurring basis | Operating segments | Non-agency RMBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,524 1,515
Measured at fair value on a recurring basis | Operating segments | Other asset-backed securities (“ABS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 313 376
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging    
Trading assets:    
Total derivative assets 2,965 1,032
Trading liabilities:    
Derivative liabilities 2,634 2,550
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Interest rate contracts    
Trading assets:    
Total derivative assets 791 718
Trading liabilities:    
Derivative liabilities 1,018 973
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivative assets 8,836 5,517
Trading liabilities:    
Derivative liabilities 8,666 5,351
Measured at fair value on a recurring basis | Operating segments | Not designated as hedging | Equity contracts    
Trading assets:    
Total derivative assets 135 21
Trading liabilities:    
Derivative liabilities 48 57
Measured at fair value on a recurring basis | Operating segments | Designated as hedging    
Trading assets:    
Total derivative assets 572 358
Trading liabilities:    
Derivative liabilities 50 81
Measured at fair value on a recurring basis | Operating segments | Designated as hedging | Interest rate contracts    
Trading assets:    
Total derivative assets 311 305
Trading liabilities:    
Derivative liabilities 24  
Measured at fair value on a recurring basis | Operating segments | Designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivative assets 261 53
Trading liabilities:    
Derivative liabilities 26 81
Measured at fair value on a recurring basis | Operating segments | Debt instruments    
Trading liabilities:    
Total trading liabilities 2,343 3,344
Measured at fair value on a recurring basis | Operating segments | Equity instruments    
Trading liabilities:    
Total trading liabilities 322 241
Measured at fair value on a recurring basis | Operating segments | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 35,784 31,951
Trading assets:    
Debt instruments 2,022 2,426
Equity instruments 8,261 7,040
Trading assets 10,294 9,471
Other assets 645 575
Total other assets 645 575
Total assets $ 46,723 $ 41,997
Percentage of total assets prior to netting 35.00% 34.00%
Trading liabilities:    
Total trading liabilities $ 2,638 $ 3,548
Other liabilities 585 535
Total other liabilities 585 535
Total liabilities $ 3,223 $ 4,083
Percentage of total liabilities prior to netting 25.00% 39.00%
Measured at fair value on a recurring basis | Operating segments | Level 1 | U.S. Treasury    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value $ 28,934 $ 24,755
Measured at fair value on a recurring basis | Operating segments | Level 1 | Non-U.S. government    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 6,850 7,196
Measured at fair value on a recurring basis | Operating segments | Level 1 | Agency residential mortgage-backed securities (“RMBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Foreign covered bonds    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Agency commercial mortgage-backed securities (“MBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Collateralized loan obligations (“CLOs”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Non-agency commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Non-agency RMBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Other asset-backed securities (“ABS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging    
Trading assets:    
Total derivatives fair value 11 5
Trading liabilities:    
Total derivatives fair value 21 4
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 10 5
Trading liabilities:    
Total derivatives fair value 20 3
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Not designated as hedging | Equity contracts    
Trading assets:    
Total derivatives fair value 1 0
Trading liabilities:    
Total derivatives fair value 1 1
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0  
Measured at fair value on a recurring basis | Operating segments | Level 1 | Designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 1 | Debt instruments    
Trading liabilities:    
Total trading liabilities 2,295 3,303
Measured at fair value on a recurring basis | Operating segments | Level 1 | Equity instruments    
Trading liabilities:    
Total trading liabilities 322 241
Measured at fair value on a recurring basis | Operating segments | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 71,616 70,155
Trading assets:    
Debt instruments 3,588 3,778
Equity instruments 0 0
Trading assets 13,339 10,029
Other assets 754 578
Total other assets 1,326 936
Total assets $ 86,281 $ 81,120
Percentage of total assets prior to netting 65.00% 66.00%
Trading liabilities:    
Total trading liabilities $ 9,759 $ 6,418
Other liabilities 27 1
Total other liabilities 77 82
Total liabilities $ 9,836 $ 6,500
Percentage of total liabilities prior to netting 75.00% 61.00%
Measured at fair value on a recurring basis | Operating segments | Level 2 | U.S. Treasury    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value $ 958 $ 956
Measured at fair value on a recurring basis | Operating segments | Level 2 | Non-U.S. government    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 20,814 21,372
Measured at fair value on a recurring basis | Operating segments | Level 2 | Agency residential mortgage-backed securities (“RMBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 22,955 21,220
Measured at fair value on a recurring basis | Operating segments | Level 2 | Foreign covered bonds    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 7,885 8,068
Measured at fair value on a recurring basis | Operating segments | Level 2 | Agency commercial mortgage-backed securities (“MBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 6,659 6,780
Measured at fair value on a recurring basis | Operating segments | Level 2 | Collateralized loan obligations (“CLOs”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 7,003 6,118
Measured at fair value on a recurring basis | Operating segments | Level 2 | Non-agency commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,967 2,196
Measured at fair value on a recurring basis | Operating segments | Level 2 | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,538 1,554
Measured at fair value on a recurring basis | Operating segments | Level 2 | Non-agency RMBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 1,524 1,515
Measured at fair value on a recurring basis | Operating segments | Level 2 | Other asset-backed securities (“ABS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 313 376
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging    
Trading assets:    
Total derivatives fair value 9,751 6,251
Trading liabilities:    
Total derivatives fair value 9,711 6,377
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 781 713
Trading liabilities:    
Total derivatives fair value 998 970
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 8,836 5,517
Trading liabilities:    
Total derivatives fair value 8,666 5,351
Measured at fair value on a recurring basis | Operating segments | Level 2 | Not designated as hedging | Equity contracts    
Trading assets:    
Total derivatives fair value 134 21
Trading liabilities:    
Total derivatives fair value 47 56
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging    
Trading assets:    
Total derivatives fair value 572 358
Trading liabilities:    
Total derivatives fair value 50 81
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 311 305
Trading liabilities:    
Total derivatives fair value 24  
Measured at fair value on a recurring basis | Operating segments | Level 2 | Designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 261 53
Trading liabilities:    
Total derivatives fair value 26 81
Measured at fair value on a recurring basis | Operating segments | Level 2 | Debt instruments    
Trading liabilities:    
Total trading liabilities 48 41
Measured at fair value on a recurring basis | Operating segments | Level 2 | Equity instruments    
Trading liabilities:    
Total trading liabilities 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Trading assets:    
Debt instruments 0 0
Equity instruments 0 0
Trading assets 0 0
Other assets 0 0
Total other assets 0 0
Total assets $ 0 $ 0
Percentage of total assets prior to netting 0.00% 0.00%
Trading liabilities:    
Total trading liabilities $ 0 $ 0
Other liabilities 0 0
Total other liabilities 0 0
Total liabilities $ 0 $ 0
Percentage of total liabilities prior to netting 0.00% 0.00%
Measured at fair value on a recurring basis | Operating segments | Level 3 | U.S. Treasury    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value $ 0 $ 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Non-U.S. government    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Agency residential mortgage-backed securities (“RMBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Foreign covered bonds    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Agency commercial mortgage-backed securities (“MBS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Collateralized loan obligations (“CLOs”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Non-agency commercial MBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Non-agency RMBS    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Other asset-backed securities (“ABS”)    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Not designated as hedging | Equity contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging | Interest rate contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0  
Measured at fair value on a recurring basis | Operating segments | Level 3 | Designated as hedging | Foreign exchange contracts    
Trading assets:    
Total derivatives fair value 0 0
Trading liabilities:    
Total derivatives fair value 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Debt instruments    
Trading liabilities:    
Total trading liabilities 0 0
Measured at fair value on a recurring basis | Operating segments | Level 3 | Equity instruments    
Trading liabilities:    
Total trading liabilities 0 0
Measured at fair value on a recurring basis | Operating segments | NAV    
Trading assets:    
Assets measured at NAV $ 154 $ 155