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Borrowings and Other Secured Financings
9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Borrowings and Other Secured Financings Borrowings and Other Secured Financings
Borrowings
$ in millionsAt
September 30,
2025
At
December 31,
2024
Original maturities of one year or less$7,551 $4,512 
Original maturities greater than one year
Senior$309,979 $270,594 
Subordinated14,149 13,713 
Total greater than one year$324,128 $284,307 
Total$331,679 $288,819 
Weighted average stated maturity, in years1
6.46.6
1.Only includes borrowings with original maturities greater than one year.
Other Secured Financings
$ in millionsAt
September 30,
2025
At
December 31,
2024
Original maturities:
One year or less$13,373 $17,133 
Greater than one year8,068 4,469 
Total$21,441 $21,602 
Transfers of assets accounted for as secured financings$9,479 $10,275 
Other secured financings include the liabilities related to collateralized notes, transfers of financial assets that are accounted for as financings rather than sales and consolidated VIEs where the Firm is deemed to be the primary beneficiary. These liabilities are generally payable from the cash flows of the related assets accounted for as Trading assets. See Note 14 for further information on other secured financings related to VIEs and securitization activities.
For transfers of assets that fail to meet accounting criteria for a sale, the Firm continues to record the assets and recognizes the associated liabilities in the balance sheet.