By remaining maturity at December 31, | 2013 | 2012 | ||||||||||||||||||
(in millions, except rates) | Under 1 year | 1-5 years | After 5 years | Total | Total | |||||||||||||||
Parent company | ||||||||||||||||||||
Senior debt: | Fixed rate | $ | 11,100 | $ | 49,241 | $ | 40,733 | $ | 101,074 | $ | 99,716 | |||||||||
Variable rate | 12,411 | 22,790 | 5,829 | 41,030 | 38,765 | |||||||||||||||
Interest rates(a) | 0.38-6.25% | 0.35-7.25% | 0.19-6.40% | 0.19-7.25% | 0.26-7.25% | |||||||||||||||
Subordinated debt: | Fixed rate | $ | 2,904 | $ | 4,966 | $ | 7,328 | $ | 15,198 | $ | 16,312 | |||||||||
Variable rate | — | 4,557 | 9 | 4,566 | 3,440 | |||||||||||||||
Interest rates(a) | 1.92-5.13% | 0.63-6.13% | 3.38-8.53% | 0.63-8.53% | 0.61-8.53% | |||||||||||||||
Subtotal | $ | 26,415 | $ | 81,554 | $ | 53,899 | $ | 161,868 | $ | 158,233 | ||||||||||
Subsidiaries | ||||||||||||||||||||
Federal Home Loan Banks ("FHLB") advances: | Fixed rate | $ | 1,029 | $ | 2,022 | $ | 185 | $ | 3,236 | $ | 4,712 | |||||||||
Variable rate | 11,050 | 39,590 | 8,000 | 58,640 | 37,333 | |||||||||||||||
Interest rates(a) | 0.20-1.54% | 0.16-2.04% | 0.36-0.43% | 0.16-2.04% | 0.30-2.04% | |||||||||||||||
Senior debt: | Fixed rate | $ | 347 | $ | 1,655 | $ | 3,426 | $ | 5,428 | $ | 6,761 | |||||||||
Variable rate | 6,593 | 14,117 | 2,748 | 23,458 | 21,607 | |||||||||||||||
Interest rates(a) | 0.12-3.75% | 0.21-8.00% | 7.28 | % | 0.12-8.00% | 0.16-7.28% | ||||||||||||||
Subordinated debt: | Fixed rate | $ | — | $ | 5,445 | $ | 1,841 | $ | 7,286 | $ | 7,513 | |||||||||
Variable rate | — | 2,528 | — | 2,528 | 2,466 | |||||||||||||||
Interest rates(a) | — | % | 0.57-6.00% | 4.38-8.25% | 0.57-8.25% | 0.64-8.25% | ||||||||||||||
Subtotal | $ | 19,019 | $ | 65,357 | $ | 16,200 | $ | 100,576 | $ | 80,392 | ||||||||||
Junior subordinated debt: | Fixed rate | $ | — | $ | — | $ | 2,176 | $ | 2,176 | $ | 7,131 | |||||||||
Variable rate | — | — | 3,269 | 3,269 | 3,268 | |||||||||||||||
Interest rates(a) | — | % | — | % | 0.74-8.75% | 0.74-8.75% | 0.81-8.75% | |||||||||||||
Subtotal | $ | — | $ | — | $ | 5,445 | $ | 5,445 | $ | 10,399 | ||||||||||
Total long-term debt(b)(c)(d) | $ | 45,434 | $ | 146,911 | $ | 75,544 | $ | 267,889 | (f)(g) | $ | 249,024 | |||||||||
Long-term beneficial interests: | ||||||||||||||||||||
Fixed rate | $ | 353 | $ | 7,537 | $ | 3,068 | $ | 10,958 | $ | 10,393 | ||||||||||
Variable rate | 3,438 | 13,056 | 4,378 | 20,872 | 24,579 | |||||||||||||||
Interest rates | 0.19-5.63% | 0.19-5.35% | 0.04-15.93% | 0.04-15.93% | 0.23-13.91% | |||||||||||||||
Total long-term beneficial interests(e) | $ | 3,791 | $ | 20,593 | $ | 7,446 | $ | 31,830 | $ | 34,972 |
(a) | The interest rates shown are the range of contractual rates in effect at year-end, including non-U.S. dollar fixed- and variable-rate issuances, which excludes the effects of the associated derivative instruments used in hedge accounting relationships, if applicable. The use of these derivative instruments modifies the Firm’s exposure to the contractual interest rates disclosed in the table above. Including the effects of the hedge accounting derivatives, the range of modified rates in effect at December 31, 2013, for total long-term debt was (0.18)% to 8.00%, versus the contractual range of 0.12% to 8.75% presented in the table above. The interest rate ranges shown exclude structured notes accounted for at fair value. |
(b) | Included long-term debt of $68.4 billion and $48.0 billion secured by assets totaling $131.3 billion and $112.8 billion at December 31, 2013 and 2012, respectively. The amount of long-term debt secured by assets does not include amounts related to hybrid instruments. |
(c) | Included $28.9 billion and $30.8 billion of long-term debt accounted for at fair value at December 31, 2013 and 2012, respectively. |
(d) | Included $2.7 billion and $1.6 billion of outstanding zero-coupon notes at December 31, 2013 and 2012, respectively. The aggregate principal amount of these notes at their respective maturities is $4.5 billion and $3.0 billion, respectively. |
(e) | Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated VIEs. Also included $2.0 billion and $1.2 billion of outstanding structured notes accounted for at fair value at December 31, 2013 and 2012, respectively. Excluded short-term commercial paper and other short-term beneficial interests of $17.8 billion and $28.2 billion at December 31, 2013 and 2012, respectively. |
(f) | At December 31, 2013, long-term debt in the aggregate of $24.6 billion was redeemable at the option of JPMorgan Chase, in whole or in part, prior to maturity, based on the terms specified in the respective notes. |
(g) | The aggregate carrying values of debt that matures in each of the five years subsequent to 2013 is $45.4 billion in 2014, $43.3 billion in 2015, $36.3 billion in 2016, $32.5 billion in 2017 and $34.8 billion in 2018. |
December 31, 2013 (in millions) | Amount of trust preferred securities issued by trust(a) | Principal amount of debenture issued to trust(b) | Issue date | Stated maturity of trust preferred securities and debentures | Earliest redemption date | Interest rate of trust preferred securities and debentures | Interest payment/distribution dates | |||||||||||
Bank One Capital III | $ | 474 | $ | 675 | 2000 | 2030 | Any time | 8.75% | Semiannually | |||||||||
Chase Capital II | 482 | 498 | 1997 | 2027 | Any time | LIBOR + 0.50% | Quarterly | |||||||||||
Chase Capital III | 296 | 305 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | |||||||||||
Chase Capital VI | 241 | 249 | 1998 | 2028 | Any time | LIBOR + 0.625% | Quarterly | |||||||||||
First Chicago NBD Capital I | 249 | 257 | 1997 | 2027 | Any time | LIBOR + 0.55% | Quarterly | |||||||||||
JPMorgan Chase Capital XIII | 465 | 480 | 2004 | 2034 | 2014 | LIBOR + 0.95% | Quarterly | |||||||||||
JPMorgan Chase Capital XXI | 836 | 837 | 2007 | 2037 | Any time | LIBOR + 0.95% | Quarterly | |||||||||||
JPMorgan Chase Capital XXIII | 643 | 644 | 2007 | 2047 | Any time | LIBOR + 1.00% | Quarterly | |||||||||||
JPMorgan Chase Capital XXIX | 1,500 | 1,500 | 2010 | 2040 | 2015 | 6.70% | Quarterly | |||||||||||
Total | $ | 5,186 | $ | 5,445 |
(a) | Represents the amount of trust preferred securities issued to the public by each trust, including unamortized original issue discount. |
(b) | Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s Consolidated Financial Statements. |