By remaining maturity December 31, 2013 (in millions) | Due in one year or less | Due after one year through five years | Due after five years through 10 years | Due after 10 years(c) | Total | ||||||||||
Available-for-sale debt securities | |||||||||||||||
Mortgage-backed securities(a) | |||||||||||||||
Amortized cost | $ | 209 | $ | 13,689 | $ | 8,239 | $ | 131,282 | $ | 153,419 | |||||
Fair value | 210 | 14,117 | 8,489 | 133,893 | 156,709 | ||||||||||
Average yield(b) | 2.17 | % | 2.10 | % | 2.83 | % | 2.93 | % | 2.85 | % | |||||
U.S. Treasury and government agencies(a) | |||||||||||||||
Amortized cost | $ | 8,781 | $ | 10,246 | $ | 1,425 | $ | 858 | $ | 21,310 | |||||
Fair value | 8,792 | 10,257 | 1,425 | 915 | 21,389 | ||||||||||
Average yield(b) | 0.36 | % | 0.39 | % | 0.34 | % | 0.59 | % | 0.38 | % | |||||
Obligations of U.S. states and municipalities | |||||||||||||||
Amortized cost | $ | 57 | $ | 479 | $ | 1,644 | $ | 27,561 | $ | 29,741 | |||||
Fair value | 58 | 505 | 1,664 | 27,234 | 29,461 | ||||||||||
Average yield(b) | 3.12 | % | 4.91 | % | 4.27 | % | 6.19 | % | 6.06 | % | |||||
Certificates of deposit | |||||||||||||||
Amortized cost | $ | 990 | $ | 51 | $ | — | $ | — | $ | 1,041 | |||||
Fair value | 988 | 53 | — | — | 1,041 | ||||||||||
Average yield(b) | 6.37 | % | 3.28 | % | — | % | — | % | 6.22 | % | |||||
Non-U.S. government debt securities | |||||||||||||||
Amortized cost | $ | 11,210 | $ | 16,999 | $ | 24,735 | $ | 2,563 | $ | 55,507 | |||||
Fair value | 11,223 | 17,191 | 25,166 | 2,668 | 56,248 | ||||||||||
Average yield(b) | 2.72 | % | 2.26 | % | 1.39 | % | 1.64 | % | 1.94 | % | |||||
Corporate debt securities | |||||||||||||||
Amortized cost | $ | 2,871 | $ | 12,318 | $ | 5,854 | $ | — | $ | 21,043 | |||||
Fair value | 2,873 | 12,638 | 6,001 | — | 21,512 | ||||||||||
Average yield(b) | 1.94 | % | 2.41 | % | 2.60 | % | — | % | 2.40 | % | |||||
Asset-backed securities | |||||||||||||||
Amortized cost | $ | 42 | $ | 2,412 | $ | 15,135 | $ | 22,603 | $ | 40,192 | |||||
Fair value | 42 | 2,438 | 15,258 | 22,737 | 40,475 | ||||||||||
Average yield(b) | 2.17 | % | 1.98 | % | 1.74 | % | 1.80 | % | 1.79 | % | |||||
Total available-for-sale debt securities | |||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 184,867 | $ | 322,253 | |||||
Fair value | 24,186 | 57,199 | 58,003 | 187,447 | 326,835 | ||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.25 | % | 2.67 | % | |||||
Available-for-sale equity securities | |||||||||||||||
Amortized cost | $ | — | $ | — | $ | — | $ | 3,125 | $ | 3,125 | |||||
Fair value | — | — | — | 3,142 | 3,142 | ||||||||||
Average yield(b) | — | % | — | % | — | % | 0.20 | % | 0.20 | % | |||||
Total available-for-sale securities | |||||||||||||||
Amortized cost | $ | 24,160 | $ | 56,194 | $ | 57,032 | $ | 187,992 | $ | 325,378 | |||||
Fair value | 24,186 | 57,199 | 58,003 | 190,589 | 329,977 | ||||||||||
Average yield(b) | 1.91 | % | 1.93 | % | 1.87 | % | 3.20 | % | 2.65 | % | |||||
Total held-to-maturity securities | |||||||||||||||
Amortized cost | $ | — | $ | 3 | $ | 1 | $ | 24,022 | $ | 24,026 | |||||
Fair value | — | 4 | 1 | 23,726 | 23,731 | ||||||||||
Average yield(b) | — | % | 6.86 | % | 6.48 | % | 3.53 | % | 3.53 | % | |||||
(a) | U.S. government-sponsored enterprises were the only issuers whose securities exceeded 10% of JPMorgan Chase’s total stockholders’ equity at December 31, 2013. |
(b) | Average yield is computed using the effective yield of each security owned at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and the effect of related hedging derivatives. Taxable-equivalent amounts are used where applicable. The effective yield excludes unscheduled principal prepayments; and accordingly, actual maturities of securities may differ from their contractual or expected maturities as certain securities may be prepaid. |
(c) | Includes securities with no stated maturity. Substantially all of the Firm’s residential mortgage-backed securities and collateralized mortgage obligations are due in 10 years or more, based on contractual maturity. The estimated duration, which reflects anticipated future prepayments based on a consensus of dealers in the market, is approximately five years for agency residential mortgage-backed securities, two years for agency residential collateralized mortgage obligations and three years for nonagency residential collateralized mortgage obligations. |