Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 23, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | PNC | |
Entity Registrant Name | PNC FINANCIAL SERVICES GROUP, INC. | |
Entity Central Index Key | 713,676 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 507,805,789 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Income | ||||
Loans | $ 1,804,000,000 | $ 1,848,000,000 | $ 5,397,000,000 | $ 5,592,000,000 |
Investment securities | 423,000,000 | 387,000,000 | 1,236,000,000 | 1,226,000,000 |
Other | 114,000,000 | 93,000,000 | 332,000,000 | 276,000,000 |
Total interest income | 2,341,000,000 | 2,328,000,000 | 6,965,000,000 | 7,094,000,000 |
Interest Expense | ||||
Deposits | 107,000,000 | 81,000,000 | 297,000,000 | 239,000,000 |
Borrowed funds | 172,000,000 | 143,000,000 | 482,000,000 | 427,000,000 |
Total interest expense | 279,000,000 | 224,000,000 | 779,000,000 | 666,000,000 |
Net interest income | 2,062,000,000 | 2,104,000,000 | 6,186,000,000 | 6,428,000,000 |
Noninterest Income | ||||
Asset management | 376,000,000 | 411,000,000 | 1,168,000,000 | 1,137,000,000 |
Consumer services | 341,000,000 | 320,000,000 | 986,000,000 | 933,000,000 |
Corporate services | 384,000,000 | 374,000,000 | 1,097,000,000 | 1,018,000,000 |
Residential mortgage | 125,000,000 | 140,000,000 | 453,000,000 | 483,000,000 |
Service charges on deposits | 172,000,000 | 179,000,000 | 481,000,000 | 482,000,000 |
Net gains on sales of securities | (9,000,000) | 0 | 41,000,000 | 4,000,000 |
Other | 324,000,000 | 313,000,000 | 960,000,000 | 943,000,000 |
Total noninterest income | 1,713,000,000 | 1,737,000,000 | 5,186,000,000 | 5,000,000,000 |
Total revenue | 3,775,000,000 | 3,841,000,000 | 11,372,000,000 | 11,428,000,000 |
Provision For Credit Losses | 81,000,000 | 55,000,000 | 181,000,000 | 221,000,000 |
Noninterest Expense | ||||
Personnel | 1,222,000,000 | 1,189,000,000 | 3,579,000,000 | 3,441,000,000 |
Occupancy | 209,000,000 | 200,000,000 | 634,000,000 | 617,000,000 |
Equipment | 227,000,000 | 220,000,000 | 680,000,000 | 625,000,000 |
Marketing | 64,000,000 | 66,000,000 | 193,000,000 | 186,000,000 |
Other | 630,000,000 | 682,000,000 | 1,981,000,000 | 2,080,000,000 |
Total noninterest expense | 2,352,000,000 | 2,357,000,000 | 7,067,000,000 | 6,949,000,000 |
Income (loss) before income taxes and noncontrolling interests | 1,342,000,000 | 1,429,000,000 | 4,124,000,000 | 4,258,000,000 |
Income taxes | 269,000,000 | 391,000,000 | 1,003,000,000 | 1,108,000,000 |
Net income | 1,073,000,000 | 1,038,000,000 | 3,121,000,000 | 3,150,000,000 |
Net income (loss) attributable to noncontrolling interests | 18,000,000 | 1,000,000 | 23,000,000 | 2,000,000 |
Preferred stock dividends and discount accretion and redemptions | 64,000,000 | 71,000,000 | 182,000,000 | 189,000,000 |
Net income attributable to common shareholders | $ 991,000,000 | $ 966,000,000 | $ 2,916,000,000 | $ 2,959,000,000 |
Earnings Per Common Share | ||||
Basic | $ 1.93 | $ 1.82 | $ 5.64 | $ 5.55 |
Diluted | $ 1.9 | $ 1.79 | $ 5.52 | $ 5.45 |
Average Common Shares Outstanding | ||||
Basic | 512 | 529 | 516 | 531 |
Diluted | 520 | 537 | 525 | 539 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 1,073,000,000 | $ 1,038,000,000 | $ 3,121,000,000 | $ 3,150,000,000 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Net unrealized gains (losses) on non-OTTI securities | 154,000,000 | (132,000,000) | (137,000,000) | 269,000,000 |
Net unrealized gains (losses) on OTTI securities | 4,000,000 | 15,000,000 | 11,000,000 | 122,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives | 234,000,000 | (81,000,000) | 303,000,000 | (5,000,000) |
Pension and other postretirement benefit plan adjustments | 7,000,000 | (2,000,000) | 57,000,000 | 89,000,000 |
Other | (1,000,000) | (12,000,000) | (37,000,000) | (5,000,000) |
Other comprehensive income (loss), before tax and net of reclassifications into Net income | 398,000,000 | (212,000,000) | 197,000,000 | 470,000,000 |
Income tax benefit (expense) related to items of other comprehensive income | (162,000,000) | 58,000,000 | (85,000,000) | (179,000,000) |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | 236,000,000 | (154,000,000) | 112,000,000 | 291,000,000 |
Comprehensive income | 1,309,000,000 | 884,000,000 | 3,233,000,000 | 3,441,000,000 |
Less: Comprehensive income (loss) attributable to noncontrolling interests (a) | 18,000,000 | 1,000,000 | 23,000,000 | 2,000,000 |
Comprehensive income attributable to PNC | $ 1,291,000,000 | $ 883,000,000 | $ 3,210,000,000 | $ 3,439,000,000 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and due from banks (includes $5 and $6 for VIEs) (a) | [1] | $ 3,835,000,000 | $ 4,360,000,000 |
Federal funds sold and resale agreements (includes $139 and $155 measured at fair value) (b) | [2] | 1,534,000,000 | 1,852,000,000 |
Trading securities | 1,901,000,000 | 2,353,000,000 | |
Interest-earning deposits with banks (includes $5 and $6 for VIEs) (a) | [1] | 34,224,000,000 | 31,779,000,000 |
Loans held for sale (includes $1,888 and $2,154 measured at fair value) (b) | [2] | 2,060,000,000 | 2,262,000,000 |
Investment securities | 68,066,000,000 | 55,823,000,000 | |
Loans (includes $1,354 and $1,606 for VIEs) (a) (includes $915 and $1,034 measured at fair value) (b) | [1],[2] | 204,983,000,000 | 204,817,000,000 |
Allowance for loan and lease losses (includes $(43) and $(50) for VIEs) (a) | [1] | (3,237,000,000) | (3,331,000,000) |
Net loans | 201,746,000,000 | 201,486,000,000 | |
Goodwill | 9,103,000,000 | 9,103,000,000 | |
Mortgage servicing rights | 1,467,000,000 | 1,351,000,000 | |
Other intangible assets | 407,000,000 | 493,000,000 | |
Equity investments (includes $114 and $492 for VIEs) (a) | [1] | 10,497,000,000 | 10,728,000,000 |
Other (includes $468 and $483 for VIEs) (a) (includes $349 and $412 measured at fair value) (b) | [1],[2] | 27,285,000,000 | 23,482,000,000 |
Total assets | 362,125,000,000 | 345,072,000,000 | |
Deposits | |||
Noninterest-bearing | 78,239,000,000 | 73,479,000,000 | |
Interest-bearing | 166,740,000,000 | 158,755,000,000 | |
Total deposits | 244,979,000,000 | 232,234,000,000 | |
Borrowed funds | |||
Federal funds purchased and repurchase agreements | 2,077,000,000 | 3,510,000,000 | |
Federal Home Loan Bank Borrowings | 21,664,000,000 | 20,005,000,000 | |
Bank notes and senior debt | 19,749,000,000 | 15,750,000,000 | |
Subordinated debt | 9,242,000,000 | 9,151,000,000 | |
Commercial paper | 1,125,000,000 | 4,995,000,000 | |
Other (includes $207 and $347 for VIEs) (a) (includes $136 and $273 measured at fair value) (b) | [1],[2] | 2,806,000,000 | 3,357,000,000 |
Borrowed funds | 56,663,000,000 | 56,768,000,000 | |
Allowance for unfunded loan commitments and letters of credit | 266,000,000 | 259,000,000 | |
Accrued expenses (includes $55 and $70 for VIEs) (a) | [1] | 5,185,000,000 | 5,187,000,000 |
Other (includes $95 and $206 for VIEs) (a) | [1] | 8,754,000,000 | 4,550,000,000 |
Total liabilities | 315,847,000,000 | 298,998,000,000 | |
Equity | |||
Preferred stock (c) | [3] | 0 | 0 |
Common stock ($5 par value, authorized 800 shares, issued 542 and 541 shares) | 2,708,000,000 | 2,705,000,000 | |
Capital surplus - preferred stock | 3,450,000,000 | 3,946,000,000 | |
Capital surplus - common stock and other | 12,675,000,000 | 12,627,000,000 | |
Retained earnings | 28,337,000,000 | 26,200,000,000 | |
Accumulated other comprehensive income | 615,000,000 | 503,000,000 | |
Common stock held in treasury at cost: 32 and 18 shares | (2,837,000,000) | (1,430,000,000) | |
Total shareholders' equity | 44,948,000,000 | 44,551,000,000 | |
Noncontrolling interests | 1,330,000,000 | 1,523,000,000 | |
Total equity | 46,278,000,000 | 46,074,000,000 | |
Total liabilities and equity | $ 362,125,000,000 | $ 345,072,000,000 | |
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||
[2] | Amounts represent items for which we have elected the fair value option. | ||
[3] | Par value less than $.5 million at each date. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Cash and due from banks | [1] | $ 3,835,000,000 | $ 4,360,000,000 |
Interest-earning deposits with banks | [1] | 34,224,000,000 | 31,779,000,000 |
Total Loans | [1],[2] | 204,983,000,000 | 204,817,000,000 |
Allowance for loan and lease losses | [1] | (3,237,000,000) | (3,331,000,000) |
Equity investments | [1] | 10,497,000,000 | 10,728,000,000 |
Other assets | [1],[2] | 27,285,000,000 | 23,482,000,000 |
Other borrowed funds | [1],[2] | 2,806,000,000 | 3,357,000,000 |
Accrued expenses | [1] | 5,185,000,000 | 5,187,000,000 |
Other liabilities | [1] | $ 8,754,000,000 | $ 4,550,000,000 |
Common stock, par value | $ 5 | $ 5 | |
Common stock, authorized | 800 | 800 | |
Common stock, issued | 542 | 541 | |
Common stock held in treasury at cost, shares | 32 | 18 | |
Preferred stock (c) | [3] | $ 500,000 | $ 500,000 |
Portion at Fair Value, Fair Value Disclosure | |||
Federal funds sold and resale agreements, fair value | [2] | 139,000,000 | 155,000,000 |
Loans held for sale, fair value | [2] | 1,888,000,000 | 2,154,000,000 |
Loans, Fair Value | [2] | 915,000,000 | 1,034,000,000 |
Other assets, fair value | [2] | 349,000,000 | 412,000,000 |
Other borrowed funds, fair value | [2] | 136,000,000 | 273,000,000 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Cash and due from banks | [1] | 5,000,000 | 6,000,000 |
Interest-earning deposits with banks | [1] | 5,000,000 | 6,000,000 |
Total Loans | [1] | 1,354,000,000 | 1,606,000,000 |
Allowance for loan and lease losses | [1] | (43,000,000) | (50,000,000) |
Equity investments | [1] | 114,000,000 | 492,000,000 |
Other assets | [1] | 468,000,000 | 483,000,000 |
Other borrowed funds | [1] | 207,000,000 | 347,000,000 |
Accrued expenses | [1] | 55,000,000 | 70,000,000 |
Other liabilities | [1] | $ 95,000,000 | $ 206,000,000 |
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||
[2] | Amounts represent items for which we have elected the fair value option. | ||
[3] | Par value less than $.5 million at each date. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | ||
Operating Activities | |||
Net income | $ 3,121,000,000 | $ 3,150,000,000 | |
Adjustments to reconcile net income to net cash provided (used) by operating activities | |||
Provision for credit losses (benefit) | 181,000,000 | 221,000,000 | |
Depreciation and amortization | 802,000,000 | 724,000,000 | |
Deferred income taxes | 128,000,000 | 50,000,000 | |
Net gains on sales of securities | (41,000,000) | (4,000,000) | |
Changes in fair value of mortgage servicing rights | 297,000,000 | 308,000,000 | |
Gain on sales of Visa Class B common shares | (122,000,000) | (173,000,000) | |
Undistributed earnings of BlackRock | (292,000,000) | (334,000,000) | |
Excess tax benefits from share-based payment arrangements | (33,000,000) | (23,000,000) | |
Net change in | |||
Trading securities and other short-term investments | 165,000,000 | 628,000,000 | |
Loans held for sale | (86,000,000) | (220,000,000) | |
Other assets | (2,415,000,000) | 170,000,000 | |
Accrued expenses and other liabilities | 2,280,000,000 | 332,000,000 | |
Other | (385,000,000) | (249,000,000) | |
Net cash provided (used) by operating activities | 3,600,000,000 | 4,580,000,000 | |
Sales | |||
Securities available for sale | 3,341,000,000 | 3,564,000,000 | |
Loans | 1,613,000,000 | 1,866,000,000 | |
Repayments/maturities | |||
Securities available for sale | 6,013,000,000 | 5,349,000,000 | |
Securities held to maturity | 1,541,000,000 | 1,648,000,000 | |
Purchases | |||
Securities available for sale | (17,546,000,000) | (5,057,000,000) | |
Securities held to maturity | (3,735,000,000) | ||
Loans | (564,000,000) | (544,000,000) | |
Net change in | |||
Federal funds sold and resale agreements | 317,000,000 | 222,000,000 | |
Interest-earning deposits with banks | (2,445,000,000) | (14,112,000,000) | |
Loans | (1,502,000,000) | (7,206,000,000) | |
Other | (567,000,000) | (277,000,000) | |
Net cash provided (used) by investing activities | (13,534,000,000) | (14,547,000,000) | |
Net change in | |||
Noninterest-bearing deposits | 4,772,000,000 | 2,672,000,000 | |
Interest-bearing deposits | 7,985,000,000 | 2,716,000,000 | |
Federal funds purchased and repurchase agreements | (1,433,000,000) | (789,000,000) | |
Commercial paper | (2,000,000) | (268,000,000) | |
Other borrowed funds | 276,000,000 | (156,000,000) | |
Sales/issuances | |||
Federal Home Loan Bank borrowings | 2,250,000,000 | 10,150,000,000 | |
Bank notes and senior debt | 6,428,000,000 | 4,933,000,000 | |
Subordinated debt | 745,000,000 | ||
Commercial paper | 1,394,000,000 | 6,737,000,000 | |
Other borrowed funds | 613,000,000 | 470,000,000 | |
Common and treasury stock | 130,000,000 | 203,000,000 | |
Repayments Maturities Financing [Abstract] | |||
Federal Home Loan Bank borrowings | (591,000,000) | (6,591,000,000) | |
Bank notes and senior debt | (2,629,000,000) | (2,194,000,000) | |
Subordinated debt | 57,000,000 | 34,000,000 | |
Commercial paper | (5,262,000,000) | (6,657,000,000) | |
Other borrowed funds | (1,557,000,000) | (374,000,000) | |
Preferred stock redemption | (500,000,000) | ||
Excess tax benefits from share-based payment arrangements - financing | 33,000,000 | 23,000,000 | |
Acquisition of treasury stock | (1,598,000,000) | (633,000,000) | |
Preferred stock cash dividends paid | (178,000,000) | (185,000,000) | |
Common stock cash dividends paid | (779,000,000) | (748,000,000) | |
Net cash provided (used) by financing activities | 9,409,000,000 | 10,088,000,000 | |
Net Increase (Decrease) In Cash And Due From Banks | (525,000,000) | 121,000,000 | |
Cash and due from banks at beginning of period | 4,360,000,000 | [1] | 4,043,000,000 |
Cash and due from banks at end of period | 3,835,000,000 | [1] | 4,164,000,000 |
Supplemental Disclosures | |||
Interest paid | 764,000,000 | 627,000,000 | |
Income taxes paid | 527,000,000 | 689,000,000 | |
Income taxes refunded | 2,000,000 | 9,000,000 | |
Non-cash Investing and Financing Items | |||
Transfer from (to) loans to (from) loans held for sale, net | 153,000,000 | 485,000,000 | |
Transfer from loans to foreclosed assets | $ 340,000,000 | $ 465,000,000 | |
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Accounting Policies
Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Accounting Policies | Notes To Consolidated Financial Statements (Unaudited) The P NC Financial Services Group, Inc. Business The PNC Financial Services Group, Inc. (PNC) is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. We have businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing many of our products and services nationally, as well as other produc ts and services in our primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Car olina. We also provide certain products and services internationally. Note 1 Accounting Policies Basis Of Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly - owned, and certain partnership interests and variable interest entities. We prepared these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP) . We have e liminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2015 presentation , which did not have a material impact on our consolidated financial condition or results of operations. Additionally, w e evaluate the materiality of identified errors in the financial statements using both an income statement and a balance sheet approach, based on relevant quantitative and qualitative factors. The consolidated financial statements include c ertain adjustments to correct immaterial errors related to previously reported periods . In our opinion, the unaudited interim consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full ye ar or any other interim period. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2014 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2014 Form 10-K for a detailed description of significant accounting policies. Included herein are policies that are required to be disclosed on an interim basis as well as policies where there has been a significant change within the first nine months of 2015 . These interim consolidated financial statements serve to update the 2014 Form 10-K and may not include all information and notes necessary to constitute a complete set of financial statements. We have also considered the impact of subsequent events on these consolidated financial statements. Use Of Estimates We prepared these consolidated financial statements using financial information available at the time of preparation , which requires us to make estimates and assumptions that affect the amounts reported. Our most significant estimates pertain to our fair value measurements, allowances for loan and lease losses and unfunded loan commitments and letters of credit, and acc retion on purchased impaired loans. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. Nonperforming Loans and Leases The matrix below summarizes PNC's policies for classifying certain loans as nonperforming loans and/or discontinuing the accrual of loan interest income. Commercial loans Loans Classified as Nonperforming and Accounted for as Nonaccrual ● Loans accounted for at amortized cost where: – The loan is 90 days or more past due. – The loan is rated substandard or worse due to the determination that full collection of principal and interest is not probable as demonstrated by the following conditions: ○ The collection of principal or interest is 90 days or more past due; ○ Reasonable doubt exists as to the certainty of the borrower's future debt service ability, according to the terms of the credit arrangement, regardless of whether 90 days have passed or not; ○ The borrower has filed or will likely file for bankruptcy; ○ The bank advances additional funds to cover principal or interest; ○ We are in the process of liquidating a commercial borrower; or ○ We are pursuing remedies under a guarantee. Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual ● Loans accounted for under the fair value option and full collection of principal and interest is not probable. ● Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) and full collection of principal and interest is not probable. Loans Excluded from Nonperforming Classification and Nonaccrual Accounting ● Purchased impaired loans because interest income is accreted by nature of the accounting for these assets. ● Loans that are well secured and in the process of collection. Consumer loans Loans Classified as Nonperforming and Accounted for as Nonaccrual ● Loans accounted for at amortized cost where full collection of contractual principal and interest is not deemed probable as demonstrated in the policies below: – The loan is 90 days past due for home equity and installment loans, and 180 days past due for well secured residential real estate loans; – The loan has been modified and classified as a troubled debt restructuring (TDR); – Notification of bankruptcy has been received and the loan is 30 days or more past due; – The bank holds a subordinate lien position in the loan and the first lien loan is seriously stressed (i.e., 90 days or more past due); – Other loans within the same borrower relationship have been placed on nonaccrual or charge-offs have been taken on them; – The bank has repossessed non-real estate collateral securing the loan; or – The bank has charged-off the loan to the value of the collateral. Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual ● Loans accounted for under the fair value option and full collection of principal and interest is not probable. ● Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) and full collection of principal and interest is not probable. Loans Excluded from Nonperforming Classification and Nonaccrual Accounting ● Purchased impaired loans because interest income is accreted through the accounting model. ● Certain government insured loans where substantially all principal and interest is insured. ● Residential real estate loans that are well secured and in the process of collection. ● Consumer loans and lines of credit, not secured by residential real estate, as permitted by regulatory guidance. See Note 3 Asset Quality in this Report for additional detail on nonperforming assets and asset quality indicators for commercial and consumer loans. Commercial Loans We generally charge off Commercial Lending (Commercial, Commercial Real Estate, and Equipment Lease Financing) nonperforming loans when we determine that a specific loan, or portion thereof, is uncollectible. This determination is based on the specific facts and circumstances of the individual loans. In making this determination, we cons ider the viability of the business or project as a going concern, the past due status when the asset is not well-secured, the expected cash flows to repay the loan, the value of the collateral, and the ability and willingness of any guarantors to perform. Additionally, in general, for smaller dollar commercial loans of $ 1 million or less, a partial or full charge-off occurs at 120 days past due for term loans and 180 days past due for revolvers. Certain small business credit card balances that are placed on nonaccrual status when they become 90 days or more past due are charged-off at 180 days past due. Consumer Loans Home equity installment loans, home equity lines of credit, and residential real estate loans that are not well-s ecured and in the process of collection are charged-off at no later than 180 days past due. At that time, the basis in the loan is reduced to the fair value of the collateral less costs to sell. In addition to this policy, the bank recognizes a charge-off on a secured consumer loan when: The bank holds a subordinate lien position in the loan and a foreclosure notice has been received on the first lien loan; The bank holds a subordinate lien position in the loan which is 30 days or more past due with a combi ned loan to value ratio of greater than or equal to 110% and the first lien loan is seriously stressed ( i.e ., 90 days or more past due); The loan is modified or otherwise restructured in a manner that results in the loan becoming collateral dependent; Not ification of bankruptcy has been received within the last 60 days and the loan is 60 days or more past due; The borrower has been discharged from personal liability through Chapter 7 bankruptcy and has not formally reaffirmed his or her loan obligation to PNC; or The collateral securing the loan has been repossessed and the value of the collateral is less than the recorded investment of the loan outstanding. For loans that continue to meet any of the above policies, collateral values are updated annually and subsequent declines in collateral values are charged-off resulting in incremental provision for credit loss. Most consumer loans and lines of credit, not secured by residential real estate, are charged off after 120-180 days past due. Accounting for Nonperforming Loans and Leases and Other Nonaccrual Loans For accrual loans, interest income is accrued on a monthly basis and certain fees and costs are deferred upon origination and recognized in income over the term of the loan utilizing an effectiv e yield method. For nonaccrual loans, interest income accrual and deferred fee/cost amortization is discontinued. Additionally, the current year accrued and uncollected interest is reversed through Net interest income and prior year accrued and uncollected interest is charged-off. Nonaccrual loans may also be charged-off to reduce the basis to the fair value of collateral less costs to sell. If payment is received on a nonaccrual loan, generally the payment is first applied to the recorded investment; paym ents are then applied to recover any charged-off amounts related to the loan. Finally, if both recorded investment and any charge-offs have been recovered, then the payment will be recorded as fee and interest income. For TDRs, payments are applied based upon their contractual terms unless the related loan is deemed non-performing. TDRs are generally included in nonperforming and nonaccrual loans until returned to performing/accruing status through performance under restructured terms and other performanc e indicators for a reasonable period of time demonstrating that the bank expects to collect all of the loan’s remaining contractual principal and interest. TDRs resulting from 1) borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and 2) borrowers that are not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. Other nonaccrual lo ans are generally not returned to accrual status until the borrower has performed in accordance with the contractual terms and other performance indicators for at least six months, the period of time which was determined to demonstrate the expected collect ion of the loan’s remaining contractual principal and interest. When a nonperforming loan is returned to accrual status, it is then considered a performing loan. See Note 3 Asset Quality and Note 5 Allowances for Loan and Lease Losses an d Unfunded Loan Commitments and Letters of Credit in this Report and in our 2014 Form 10-K for additional TDR information. Allowance f or Loan a nd Lease Losses We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan and lease portfolios as of the balance sheet date. Our determination of the allowance is based on periodic evaluations of these loan and lease portfolios and other relevant factors. This critical estimate includes signifi cant use of PNC’s own historical data and complex methods to interpret this data. These evaluations are inherently subjective, as they require material estimates and may be susceptible to significant change, and include, among others: Probability of defaul t (PD), Loss given default (LGD), Outstanding balance of the loan, Movement through delinquency stages, Amounts and timing of expected future cash flows, Value of collateral, which may be obtained from third parties, and Qualitative factors, such as changes in current economic conditions, that may not be reflected in modeled results. For all loans, except purchased impaired loans, the ALLL is the sum of three components: ( i ) asset specific/individual impaired reserves, (ii) quantitative (formulaic o r pooled) reserves and (iii) qualitative (judgmental) reserves. The reserve calculation and determination process is dependent on the use of key assumptions. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. Asset Specific/Individual Component Nonperforming loans that are considered impaired under ASC 310 – Receivables, which include all commercial and consumer TDRs, are evaluated for a specific reserve. Specific reserve allocations are determined as follows: For commercial nonperforming loans and commercial TDRs greater than or equal to a defined dollar threshold, specific reserves are based on an analysis of the present value of the loan’s expected future cash flows, the loan’s observable market price or the fair value of the collateral. For commercial nonperforming loans and commercial TDRs below the defined dollar threshold, the individual loan’s loss given default (LGD) percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve imp airment. Consumer nonperforming loans are collectively reserved for unless classified as consumer TDRs. For consumer TDRs, specific reserves are determined through an analysis of the present value of the loan’s expected future cash flows, except for those instances where loans have been deemed collateral dependent, including loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC. Once that determination has been made, those TDRs are charged down to the fair value of the collateral less costs to sell at each period end. Commercial Lending Quantitative Component The estimates of the quantitative component of ALLL for incurred losses within the commercial lending portfolio segment are determined through statistical loss modeling utilizing PD, LGD and outstanding balance of the loan. Based upon loan risk ratings, we assign PDs and LGDs. Each of these statistical parameters is determined based on internal his torical data and market data. PD is influenced by such factors as liquidity, industry, obligor financial structure, access to capital and cash flow. LGD is influenced by collateral type, original and/or updated loan-to-value ratio (LTV), facility structure and other factors. Consumer Lending Quantitative Component Quantitative estimates within the consumer lending portfolio segment are calculated primarily using a roll-rate model based on statistical relationships, calculated from historical data that esti mate the movement of loan outstandings through the various stages of delinquency and ultimately charge-off over our loss emergence period. Qualitative Component While our reserve methodologies strive to reflect all relevant risk factors, there continues t o be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of specific or pooled reserves. Such qualitative factors may include: Industry concentrations and con ditions, Recent credit quality trends, Recent loss experience in particular portfolios, Recent macro-economic factors, Model imprecision, Changes in lending policies and procedures, Timing of available information, including the performance of first lien positions, and Limitations of available historical data. Allowance for Purchased Non-Impaired Loans ALLL for purchased non-impaired loans is determined based upon a comparison between the methodologies described above and the remaining acquisition da te fair value discount that has yet to be accreted into interest income. After making the comparison, an ALLL is recorded for the amount greater than the discount, or no ALLL is recorded if the discount is greater. Allowance for Purchased Impaired Loans A LLL for purchased impaired loans is determined in accordance with ASC 310-30 by comparing the net present value of the cash flows expected to be collected to the recorded investment for a given loan (or pool of loans). In cases where the net present value of expected cash flows is lower than the recorded investment, ALLL is established. Cash flows expected to be collected represent management’s best estimate of the cash flows expected over the life of a loan (or pool of loans). For large balance commercial loans, cash flows are separately estimated at the loan level. For smaller balance pooled loans, pool cash flows are estimated using cash flow models. Pools were defined at acquisition based on the risk characteristics of the loan. Our cash flow models use loan data including, but not limited to, contractual loan balance, delinquency status of the loan, updated borrower FICO credit scores, geographic information, historical loss experience, and updated LTVs, as well as best estimates for changes in unemploym ent rates, home prices and other economic factors, to determine estimated cash flows. See Note 4 Purchased Loans and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. Our credit risk management policies, procedures and practices are designed to promote sound lending standards and prudent credit risk management. We have policies, procedures and practices that address fi nancial statement requirements, collateral review and appraisal requirements, advance rates based upon collateral types, appropriate levels of exposure, cross-border risk, lending to specialized industries or borrower type, guarantor requirements, and regu latory compliance. Allowance f or Unfunded Loan Commitments a nd Letters o f Credit We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable credit losses incurred on these unfunde d credit facilities as of the balance sheet date. We determine the allowance based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors, and, solely for commercial le nding, the terms and expiration dates of the unfunded credit facilities. Other than the estimation of the probability of funding, the reserve for unfunded loan commitments is estimated in a manner similar to the methodology used for determining reserves fo r funded exposures. The allowance for unfunded loan commitments and letters of credit is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the allowance for unfunded loan commitments and letters of credit are included in the pro vision for credit losses. See Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. Earnings Per Common Share Basic earnings per common share is calculated using the two-class method to determine income attributable to common shareholders. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are considered participating securities under the two-class method. Income attributable to common shareholders is then divided by the weighted-average common shares outstanding for the period. Diluted earnings per common share is calculated under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, we increase the weighted-average number of shares of common stock outstanding by the assumed conversion of outstandi ng convertible preferred stock from the beginning of the year or date of issuance, if later, and the number of shares of common stock that would be issued assuming the exercise of stock options and warrants and the issuance of incentive shares using the tr easury stock method. These adjustments to the weighted-average number of shares of common stock outstanding are made only when such adjustments will dilute earnings per common share. See Note 12 Earnings Per Share for additional information. Recent ly Adopted Accounting Standards We did not adopt any new accounting standards during the third quarter of 2015. |
Loan Sale and Servicing Activit
Loan Sale and Servicing Activities and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2015 | |
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |
Loan Sale and Servicing Activities and Variable Interest Entities | Note 2 Loan Sale and Servicing Activities and Variable Interest Entities Loan Sale and Servicing Activities As more fully described in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K, w e have transferred residential and commercial mortgage loans in securitization or sales transactions in which we have continuing involvement. Our continuing involvement generally consists of servicing, repurchasing previously transferred loans under certain conditions and loss share arrangements, and, in limited circumstances, holding of mortgage-backed securities issued by the securitization SPEs. We earn servicing and other ancillary fees for our role as servicer and, depending on the contractual terms o f the servicing arrangement, we can be terminated as servicer with or without cause. At the consummation date of each type of loan transfer where PNC retains the servicing, we recognize a servicing right at fair value. See Note 8 Goodwill and Other Intangi ble Assets for information on our servicing rights, including the carrying value of servicing assets. The following table provides cash flows associated with PNC's loan sale and servicing activities: Table 51: Cash Flows Associated with Loan Sale and Servicing Activities Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) CASH FLOWS - Three months ended September 30, 2015 Sales of loans (c) $ 2,329 $ 846 Repurchases of previously transferred loans (d) 129 $ 90 Servicing fees (e) 84 35 4 Servicing advances recovered/(funded), net 32 (6) 3 Cash flows on mortgage-backed securities held (f) 424 41 CASH FLOWS - Three months ended September 30, 2014 Sales of loans (c) $ 2,153 $ 1,091 Repurchases of previously transferred loans (d) 188 $ 4 Servicing fees (e) 86 34 4 Servicing advances recovered/(funded), net 15 38 Cash flows on mortgage-backed securities held (f) 238 51 CASH FLOWS - Nine months ended September 30, 2015 Sales of loans (c) $ 6,284 $ 3,025 Repurchases of previously transferred loans (d) 432 $ 92 Servicing fees (e) 249 103 12 Servicing advances recovered/(funded), net 70 22 28 Cash flows on mortgage-backed securities held (f) 1,093 155 CASH FLOWS - Nine months ended September 30, 2014 Sales of loans (c) $ 6,437 $ 2,026 Repurchases of previously transferred loans (d) 556 $ 13 Servicing fees (e) 260 101 14 Servicing advances recovered/(funded), net 84 93 6 Cash flows on mortgage-backed securities held (f) 724 242 (a) Represents cash flow information associated with both commercial mortgage loan transfer and servicing activities. (b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. (c) Gains/losses recognized on sales of loans were insignificant for the periods presented. (d) Includes government insured or guaranteed loans eligible for repurchase through the exercise of our ROAP option and loans repurchased due to breaches of origination covenants or representations and warranties made to purchasers. (e) Includes contractually specified servicing fees, late charges and ancillary fees. (f) Represents cash flows on securities we hold issued by a securitization SPE in which PNC transferred to and/or services loans. The carrying value of such securities held were $5.8 billion in residential mortgage-backed securities and $1.1 billion in commercial mortgage-backed securities at September 30, 2015 and $3.5 billion in residential mortgage-backed securities and $1.2 billion in commercial mortgage-backed securities at September 30, 2014. Additionally, at December 31, 2014, the carrying value of such securities held were $3.4 billion in residential mortgage-backed securities and $1.3 billion in commercial mortgage-backed securities. The table below presents information about the principal balances of transferred loans that we service and are not recorded on our Consolidated Balance Sheet. We would only experience a loss on these transferred loans if we were required to repurchase a loan due to a breach in representations and warranties or a loss sharing arrangement associated with our continuing involvement of these loans. For more information regarding our recourse and repurchase obligations, including our reserve of estimated losse s, see the Recourse and Repurchase Obligations section of Note 16 Commitments and Guarantees. Table 52: Principal Balance, Delinquent Loans, and Net Charge-offs Related to Serviced Loans For Others Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) September 30, 2015 Total principal balance $ 74,338 $ 53,466 $ 3,009 Delinquent loans (c) 2,014 792 933 December 31, 2014 Total principal balance $ 79,108 $ 60,873 $ 3,833 Delinquent loans (c) 2,657 707 1,303 Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) Three months ended September 30, 2015 Net charge-offs (d) $ 23 $ 236 $ 6 Three months ended September 30, 2014 Net charge-offs (d) $ 33 $ 439 $ 15 Nine months ended September 30, 2015 Net charge-offs (d) $ 92 $ 491 $ 21 Nine months ended September 30, 2014 Net charge-offs (d) $ 108 $ 1,139 $ 47 (a) Represents information at the securitization level in which PNC has sold loans and is the servicer for the securitization. (b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. (c) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. (d) Net charge-offs for Residential mortgages and Home equity loans/lines represent credit losses less recoveries distributed and as reported to investors during the period. Net charge-offs for Commercial mortgages represent credit losses less recoveries distributed and as reported by the trustee for CMBS securitizations. Realized losses for Agency securitizations are not reflected as we do not manage the underlying real estate upon foreclosure and, as such, do not have access to loss information. Variable Interest Entities (VIEs) As discussed in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K, we are involved with various entities in the normal course of business that are deemed to be VIEs. The following provides a summary of VIEs, including those that we have consolidated and those in which we hold variable interests but have not co nsolidated into our financial statements as of September 30, 2015 and December 31, 2014 , respectively. We have not provided additional financial support to these entities which we are not contractually required to provide. Table 53: Consolidated VIEs – Carrying Value (a) (b) September 30, 2015 Credit Card and Other Tax Credit In millions Securitization Trusts Investments Total Assets Cash and due from banks $ 5 $ 5 Interest-earning deposits with banks 5 5 Loans $ 1,348 6 1,354 Allowance for loan and lease losses (43) (43) Equity investments 114 114 Other assets 19 449 468 Total assets $ 1,324 $ 579 $ 1,903 Liabilities Other borrowed funds $ 51 $ 156 $ 207 Accrued expenses 55 55 Other liabilities 95 95 Total liabilities $ 51 $ 306 $ 357 December 31, 2014 Credit Card and Other Tax Credit In millions Securitization Trusts Investments Total Assets Cash and due from banks $ 6 $ 6 Interest-earning deposits with banks 6 6 Loans $ 1,606 1,606 Allowance for loan and lease losses (50) (50) Equity investments 492 492 Other assets 31 452 483 Total assets $ 1,587 $ 956 $ 2,543 Liabilities Other borrowed funds $ 166 $ 181 $ 347 Accrued expenses 70 70 Other liabilities 206 206 Total liabilities $ 166 $ 457 $ 623 (a) Amounts represent carrying value on PNC’s Consolidated Balance Sheet. (b) Difference between total assets and total liabilities represents the equity portion of the VIE or intercompany assets and liabilities which are eliminated in consolidation. Table 54: Non-Consolidated VIEs PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions September 30, 2015 Commercial Mortgage-Backed Securitizations (b) $ 1,314 $ 1,314 (c) Residential Mortgage-Backed Securitizations (b) 5,783 5,783 (c) $ 1 (e) Tax Credit Investments and Other 2,388 2,447 (d) 719 (f) Total $ 9,485 $ 9,544 $ 720 PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions December 31, 2014 Commercial Mortgage-Backed Securitizations (b) $ 1,550 $ 1,550 (c) $ 1 (e) Residential Mortgage-Backed Securitizations (b) 3,385 3,385 (c) 4 (e) Tax Credit Investments and Other 2,270 2,304 (d) 777 (f) Total $ 7,205 $ 7,239 $ 782 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts reflect involvement with securitization SPEs where PNC transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Values disclosed in the PNC Risk of Loss column represent our maximum exposure to loss for those securities’ holdings. Additionally, we also invest in other mortgage and asset-backed securities issued by third-party VIEs with which we have no continuing involvement. Further information on these securities is included in Note 6 Investment Securities. (c) Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. (d) Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (e) Included in Other liabilities on our Consolidated Balance Sheet. (f) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. Our involvement with VIEs is discussed in further detail in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities in our 2014 Form 10-K. |
Asset Quality
Asset Quality | 9 Months Ended |
Sep. 30, 2015 | |
Asset Quality [Abstract] | |
Asset Quality | Note 3 Asset Quality Asset Quality We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk. Trends in delinquency rates may be a key indicator, among other considerations, of credit risk within the loan portfolios. The measurement of delinquency status is based on the contractual terms of each loan. Loans that are 30 days or more past due in terms of payment are considered delinquent. Loan delinquencies exclude loans held for sale, pu rchased impaired loans, nonperforming loans and loans accounted for under the fair value option which are on nonaccrual status, but include government insured or guaranteed loans and accruing loans accounted for under the fair value opti on. Nonperforming assets include nonperforming loans and leases , OREO and foreclosed assets , and nonperforming TDRs. Nonperforming loans are those loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is not recognized on these loans. Loans accounted for under the fair value option are reported as performing loans as these loans are accounted for at fair value. However , when nonaccrual crite ria is met, interest income is not recognized on these loans. Additionally, certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest are not reported as nonperforming loans and continue to accru e interest . Purchased impaired loans are excluded from nonperforming loans as we are currently accreting interest income over the expected life of the loans. See Note 4 Purchased Loans for further information. See Note 1 Accounting Poli cies for additional delinquency, nonperforming, and charge-off information. The following tables display the delinquency status of our loans and our nonperforming assets at September 30, 2015 and December 31, 2014 , respectively. Table 55: Analysis of Loan Portfolio (a) Accruing Current or Less 30-59 60-89 90 Days Total Fair Value Option Purchased Total Than 30 Days Days Days Or More Past Nonperforming Nonaccrual Impaired Loans Dollars in millions Past Due Past Due Past Due Past Due Due (b) Loans Loans (c) Loans (d) (e) September 30, 2015 Commercial Lending Commercial $ 96,952 $ 56 $ 39 $ 36 $ 131 $ 301 $ 43 $ 97,427 Commercial real estate 25,671 32 17 49 212 161 26,093 Equipment lease financing 7,635 2 2 7 7,644 Total commercial lending 130,258 90 56 36 182 520 204 131,164 Consumer Lending Home equity 30,124 69 31 100 1,029 1,753 33,006 Residential real estate (f) 10,691 146 58 585 789 571 $ 231 2,210 14,492 Credit card 4,523 26 18 30 74 3 4,600 Other consumer (g) 21,149 177 102 239 518 54 21,721 Total consumer lending 66,487 418 209 854 1,481 1,657 231 3,963 73,819 Total $ 196,745 $ 508 $ 265 $ 890 $ 1,663 $ 2,177 $ 231 $ 4,167 $ 204,983 Percentage of total loans 95.99 % .25 % .13 % .43 % .81 % 1.06 % .11 % 2.03 % 100.00 % December 31, 2014 Commercial Lending Commercial $ 96,922 $ 73 $ 24 $ 37 $ 134 $ 290 $ 74 $ 97,420 Commercial real estate 22,667 23 2 25 334 236 23,262 Equipment lease financing 7,672 11 1 12 2 7,686 Total commercial lending 127,261 107 27 37 171 626 310 128,368 Consumer Lending Home equity 31,474 70 32 102 1,112 1,989 34,677 Residential real estate (f) 9,900 163 68 742 973 706 $ 269 2,559 14,407 Credit card 4,528 28 20 33 81 3 4,612 Other consumer (g) 22,071 214 112 293 619 63 22,753 Total consumer lending 67,973 475 232 1,068 1,775 1,884 269 4,548 76,449 Total $ 195,234 $ 582 $ 259 $ 1,105 $ 1,946 $ 2,510 $ 269 $ 4,858 $ 204,817 Percentage of total loans 95.32 % .28 % .13 % .54 % .95 % 1.23 % .13 % 2.37 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. (b) Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), as we are currently accreting interest income over the expected life of the loans. (c) Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policies. Given that these loans are not accounted for at amortized cost, these loans have been excluded from the nonperforming loan population. (d) Net of unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums totaling $1.5 billion and $1.7 billion at September 30, 2015 and December 31, 2014, respectively. (e) Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. (f) Past due loan amounts at September 30, 2015 include government insured or guaranteed Residential real estate mortgages totaling $62 million for 30 to 59 days past due, $40 million for 60 to 89 days past due and $558 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Residential real estate mortgages totaling $68 million for 30 to 59 days past due, $43 million for 60 to 89 days past due and $719 million for 90 days or more past due. (g) Past due loan amounts at September 30, 2015 include government insured or guaranteed Other consumer loans totaling $119 million for 30 to 59 days past due, $80 million for 60 to 89 days past due and $224 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Other consumer loans totaling $152 million for 30 to 59 days past due, $93 million for 60 to 89 days past due and $277 million for 90 days or more past due. At September 30, 2015 , we pledged $ 18.9 billion of commercial loans to the Federal Reserve Bank (FRB) and $ 54.2 billion of residential real estate and other loans to the Federal Home Loan Bank (FHLB) as collateral for the contingent ability to borrow, if necessary. The comparable amounts at December 31, 2014 were $ 19.2 billion and $ 52.8 billion, respectively. In the normal course of business, we originate or purchase loan products with contractual characteristics that, when concentrated, may increase our exposure as a holder of those loan products. Possible product features th at may create a concentration of credit risk would include a high original or updated LTV ratio, terms that may expose the borrower to future increases in repayments above increases in market interest rates, and interest-only loans, among others. We origi nate interest-only loans to commercial borrowers. Such credit arrangements are usually designed to match borrower cash flow expectations (e.g., working capital lines, revolvers). These products are standard in the financial services industry and product fe atures are considered during the underwriting process to mitigate the increased risk that the interest-only feature may result in borrowers not being able to make interest and principal payments when due. We do not believe that these product features creat e a concentration of credit risk. Table 56: Nonperforming Assets September 30 December 31 Dollars in millions 2015 2014 Nonperforming loans Total commercial lending $ 520 $ 626 Total consumer lending (a)(b) 1,657 1,884 Total nonperforming loans (c) 2,177 2,510 OREO and foreclosed assets Other real estate owned (OREO) 293 351 Foreclosed and other assets 20 19 Total OREO and foreclosed assets 313 370 Total nonperforming assets $ 2,490 $ 2,880 Nonperforming loans to total loans 1.06 % 1.23 % Nonperforming assets to total loans, OREO and foreclosed assets 1.21 1.40 Nonperforming assets to total assets .69 .83 (a) Excludes most consumer loans and lines of credit, not secured by residential real estate, which are charged off after 120 to 180 days past due and are not placed on nonperforming status. (b) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.6 billion and $.8 billion at September 30, 2015 and December 31, 2014, which included $.3 billion and $.5 billion, respectively, of loans that are government insured/guaranteed. (c) Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. Nonperforming loans also include certain l oans whose terms have bee n restructured in a manner that grants a concession to a borrower experiencing financial difficulties . In accordance with applicable accounting guidance, these loans are considered TDRs. See Note 1 Accounting Policies and the TDR section of Note 3 in our 2014 Form 10-K for additional information. Total nonperforming loans in the nonperforming assets table above include TDRs of $ 1.2 billion at September 30, 2015 and $1.4 billion at December 31, 2014 . TDRs that are performing, in cluding credit card TDR loans, totaled $1.2 billion at September 30, 2015 and December 31, 2014 and are exc luded from nonperforming loans. T hese include TDRs that are not placed on nonaccrual status as permitted by regulatory guidance. No nperforming TDRs are returned to accrual and classified as performing after demonstrating a period of at least six months of consecutive performance under the restructured terms. Loans where borrowers have been discharged from personal liability through C hapter 7 bankruptcy and have not formally reaffirmed their loan obligation s to PNC and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status . Additional Asset Quality Indicators We have two overall portfolio segments – Commercial Lending and Cons umer Lending. Each of these two segments is comprised of multiple loan classes. Classes are characterized by similarities in initial measurement, risk attributes and the manner in which we monitor and assess credit risk. The C ommercial Lending segment is comprised of the commercial, commercial real estate, equipment lease financing, a nd commercial purchased impaired loan c lasses . The Consumer Lending segment is comprised of the home equity, reside ntial real estate, credit card, other consumer, and consumer purchased impaired loan c lasses. Commercial Lending Asset Classes Commercial L oan Class For commercial loans, we monitor the performance of the borrower in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, we assign an internal risk rating reflecting the borrower’s PD and LGD. This two-dimensional credit risk rating methodology provides granularity in the risk monitoring process on an ongoing basis. These ratings are reviewed and updated, generally at least once per year. Additionally, no less frequently than on an annual basis, we review PD rates related to each rating grade based upon internal historical data. These rates are updated as needed and augmented by market data as deemed necessary. For small balance homogenous pools of commercial loans, mort gages and leases, we apply statistical modeling to assist in determining the probability of default within these pools. Further, on a periodic basis, we update our LGD estimates associated with each rating grade based upon historical data. The combinatio n of the PD and LGD ratings assigned to a commercial loan, capturing both the combination of expectations of default and loss severity in event of default, reflects the relative estimated likelihood of loss for that loan at the reporting date. In general, loans with better PD and LGD tend to have a lower likelihood of loss compared to loans with worse PD and LGD. The loss amount also considers an estimate of exposure at date of default, which we also periodically update based upon historical data. Based upon the amount o f the lending arrangement and our risk rating assessment, we follow a formal schedule of written periodic review. Quarterly, we conduct formal reviews of a market's or business unit's entire loan portfolio, focusing on those loans which we perceive to be o f higher risk, based upon PDs and LGDs, or loans for which credit quality is weakening. If circumstances warrant, it is our practice to review any customer obligation and its level of credit risk more frequently. We attempt to proactively manage our loans by using various procedures that are customized to the risk of a given loan, including ongoing outreach, contact, and assessment of obligor financial conditions, collateral inspection and appraisal. Commercial Real Estate Loan Class We manage credit risk associated with our commercial real estate projects and commercial mortgage activities similar to commercial loans by analyzing PD and LGD. Additionally, risks connected with commercial real estate projects and commercial mortgage activities tend to be cor related to the loan structure and collateral location, project progress and business environment. As a result, these attributes are also monitored and utilized in assessing credit risk. As with the commercial class, a formal schedule of periodic review is also performed to assess market/geographic risk and business unit/industry risk. Often as a result of these overviews, more in-depth reviews and increased scrutiny are placed on areas of higher risk, including adverse changes in risk ratings, deterioratin g operating trends, and/or areas that concern management. These reviews are designed to assess risk and take actions to mitigate our exposure to such risks. Equipment Lease Financing Loan Class We manage credit risk associated with our equipment lease fi nancing loan class similar to commercial loans by analyzing PD and LGD. Based upon the dollar amount of the lease and of the level of credit risk, we follow a formal schedule of periodic review. Generally, this occurs quarterly, although we have establish ed practices to review such credit risk more frequently if circumstances warrant. Our review process entails analysis of the following factors: equipment value/residual value, exposure levels, jurisdiction risk, industry risk, guarantor requirements, and r egulatory compliance. Commercial Purchased Impaired Loan Class Estimates of the expected cash flows primarily determine the valuation of commercial purchased impaired loans. Commercial cash flow estimates are influenced by a number of credit related items, which include but are not limited to: estimated collateral value, receipt of additional collateral, secondary trading prices, circumstances of possible and/or ongoing liquidation, capital availability, business operations and payment patterns. We attempt to proactively manage these factors by using various procedures that are customized to the risk of a given loan. These procedures include a review by our Special Asset Committee (SAC), ongoing outreach, contact, and assessment of obligor financial conditions, collateral inspection and appraisal. See Note 4 Purchased Loans for additional information. Table 57: Commercial Lending Asset Quality Indicators (a)(b) Criticized Commercial Loans Pass Special Total In millions Rated Mention (c) Substandard (d) Doubtful (e) Loans September 30, 2015 Commercial $ 92,334 $ 1,971 $ 2,962 $ 117 $ 97,384 Commercial real estate 25,224 203 478 27 25,932 Equipment lease financing 7,375 75 189 5 7,644 Purchased impaired loans 7 164 33 204 Total commercial lending $ 124,933 $ 2,256 $ 3,793 $ 182 $ 131,164 December 31, 2014 Commercial $ 92,884 $ 1,984 $ 2,424 $ 55 $ 97,347 Commercial real estate 22,066 285 639 35 23,025 Equipment lease financing 7,518 73 93 2 7,686 Purchased impaired loans 4 280 26 310 Total commercial lending $ 122,468 $ 2,346 $ 3,436 $ 118 $ 128,368 (a) Based upon PDs and LGDs. We apply a split rating classification to certain loans meeting threshold criteria. By assigning a split classification, a loan's exposure amount may be split into more than one classification category in the above table. (b) Loans are included above based on the Regulatory Classification definitions of "Pass", "Special Mention", "Substandard" and "Doubtful". (c) Special Mention rated loans have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects at some future date. These loans do not expose us to sufficient risk to warrant a more adverse classification at this time. (d) Substandard rated loans have a well-defined weakness or weaknesses that jeopardize the collection or liquidation of debt. They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. (e) Doubtful rated loans possess all the inherent weaknesses of a Substandard loan with the additional characteristics that the weakness makes collection or liquidation in full improbable due to existing facts, conditions, and values. Consumer Lending Asset Classes Home Equity and Residential Real Estate Loan Classes We use several credit quality indicators, including delinquency information, nonperforming loan information, updated credit scores, originated and updated LTV ratios, and geography, to monitor and manage credit risk within the home equity and residential real estate loan classes. We evaluate mortgage loan performance by source originators and loan servicers. A summary of asset quality indicators follows: Delinquency/De linquency Rates : We monitor trending of delinquency/delinquency rates for home equity and residential real estate loans. See the Asset Quality section of this Note 3 for additional information. Nonperforming Loans : We monitor trending of nonperforming lo ans for home equity and residential real estate loans. See the Asset Quality section of this Note 3 for additional information. Credit Scores : We use a national third-party provider to update FICO credit scores for home equity loans and lines of credit a nd residential real estate loans at least quarterly. The updated scores are incorporated into a series of credit management reports, which are utilized to monitor the risk in the loan classes. LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions) : At least annually, we update the property values of real estate collateral and calculate an updated LTV ratio. For open-end credit lines secured by real estate in regions experiencing significant declines in property values, m ore frequent valuations may occur. We examine LTV migration and stratify LTV into categories to monitor the risk in the loan classes. Historically, we used, and we continue to use, a combination of original LTV and updated LTV for internal risk management and reporting purposes ( e.g. , line management, loss mitigation strategies). In addition to the fact that estimated property values by their nature are estimates, given certain data limitations it is important to note that updated LTVs may be based upon ma nagement’s assumptions ( e.g. , if an updated LTV is not provided by the third-party service provider, home price index (HPI) changes will be incorporated in arriving at management’s estimate of updated LTV). Geography : Geographic concentrations are monito red to evaluate and manage exposures. Loan purchase programs are sensitive to, and focused within, certain regions to manage geographic exposures and associated risks. A combination of updated FICO scores, originated and updated LTV ratios and geographic location assigned to home equity loans and lines of credit and residential real estate loans is used to monitor the risk in the loan classes. Loans with higher FICO scores and lower LTVs tend to have a lowe r level of risk. Conversely, loans with lower FICO scores, higher LTVs, and in certain geographic locations tend to have a higher level of risk. Consumer Purchased Impaired Loan Class Estimates of the expected cash flows primarily determine the valuation of consumer purchased impaired loans. Consumer cash flow estimates are influenced by a number of credit related items, which include, but are not limited to: estimated real estate values, payment patterns, updated FICO scores, the current economic environm ent, updated LTV ratios and the date of origination. These key factors are monitored to help ensure that concentrations of risk are managed and cash flows are maximized. See Note 4 Purchased Loans for additional information. Table 58: Home Equity and Residential Real Estate Balances September 30 December 31 In millions 2015 2014 Home equity and residential real estate loans - excluding purchased impaired loans (a) $ 42,582 $ 43,348 Home equity and residential real estate loans - purchased impaired loans (b) 3,853 4,541 Government insured or guaranteed residential real estate mortgages (a) 953 1,188 Difference between outstanding balance and recorded investment in purchased impaired loans (c) 110 7 Total home equity and residential real estate loans (a) $ 47,498 $ 49,084 (a) Represents recorded investment. (b) Represents outstanding balance. (c) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. Table 59: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) Home Equity Residential Real Estate September 30, 2015 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (c) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 300 $ 1,050 $ 315 $ 1,665 Less than or equal to 660 (d) (e) 44 208 72 324 Missing FICO 1 7 5 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 703 1,892 607 3,202 Less than or equal to 660 (d) (e) 98 317 113 528 Missing FICO 2 6 6 14 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 780 1,569 660 3,009 Less than or equal to 660 101 228 96 425 Missing FICO 1 3 8 12 Less than 90% and updated FICO scores: Greater than 660 14,069 7,650 8,770 30,489 Less than or equal to 660 1,276 899 576 2,751 Missing FICO 32 17 101 150 Total home equity and residential real estate loans $ 17,407 $ 13,846 $ 11,329 $ 42,582 Home Equity Residential Real Estate December 31, 2014 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (c) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 333 $ 1,399 $ 360 $ 2,092 Less than or equal to 660 (d) (e) 57 273 92 422 Missing FICO 1 9 8 18 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 839 2,190 772 3,801 Less than or equal to 660 (d) (e) 118 383 153 654 Missing FICO 1 5 12 18 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 891 1,703 755 3,349 Less than or equal to 660 103 271 118 492 Missing FICO 2 3 5 10 Less than 90% and updated FICO scores: Greater than 660 13,878 7,874 7,703 29,455 Less than or equal to 660 1,319 995 573 2,887 Missing FICO 27 14 109 150 Total home equity and residential real estate loans $ 17,569 $ 15,119 $ 10,660 $ 43,348 (a) Excludes purchased impaired loans of approximately $4.0 billion and $4.5 billion in recorded investment, certain government insured or guaranteed residential real estate mortgages of approximately $1.0 billion and $1.2 billion, and loans held for sale at September 30, 2015 and December 31, 2014, respectively. See the Home Equity and Residential Real Estate Asset Quality Indicators - Purchased Impaired Loans table below for additional information on purchased impaired loans. (b) Amounts shown represent recorded investment. (c) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. We generally utilize origination lien balances provided by a third-party, where applicable, which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon lien balances held by others, and as such, are necessarily imprecise and subject to change as we enhance our methodology. (d) Higher risk loans are defined as loans with both an updated FICO score of less than or equal to 660 and an updated LTV greater than or equal to 100%. (e) The following states had the highest percentage of higher risk loans at September 30, 2015: New Jersey 15%, Pennsylvania 13%, Ohio 11%, Illinois 11%, Florida 7%, Maryland 7% and Michigan 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 31% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2014: New Jersey 14%, Illinois 12%, Pennsylvania 12%, Ohio 12%, Florida 8%, Maryland 6%, Michigan 5%, and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 28% of the higher risk loans. Table 60: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) Home Equity (b) (c) Residential Real Estate (b) (c) September 30, 2015 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (d) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 8 $ 195 $ 182 $ 385 Less than or equal to 660 8 92 89 189 Missing FICO 7 6 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 12 355 201 568 Less than or equal to 660 10 158 131 299 Missing FICO 9 7 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 9 170 137 316 Less than or equal to 660 7 82 81 170 Missing FICO 4 3 7 Less than 90% and updated FICO scores: Greater than 660 110 337 649 1,096 Less than or equal to 660 94 179 461 734 Missing FICO 1 12 28 41 Missing LTV and updated FICO scores: Greater than 660 1 10 11 Less than or equal to 660 3 5 8 Total home equity and residential real estate loans $ 263 $ 1,600 $ 1,990 $ 3,853 Home Equity (b) (c ) Residential Real Estate (b) (c) December 31, 2014 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (d) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 8 $ 243 $ 276 $ 527 Less than or equal to 660 9 125 144 278 Missing FICO 8 6 14 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 15 426 272 713 Less than or equal to 660 12 194 200 406 Missing FICO 11 5 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 12 207 186 405 Less than or equal to 660 9 93 123 225 Missing FICO 5 3 8 Less than 90% and updated FICO scores: Greater than 660 102 339 626 1,067 Less than or equal to 660 109 200 515 824 Missing FICO 1 12 15 28 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 4 10 14 Missing FICO 1 1 Total home equity and residential real estate loans $ 282 $ 1,863 $ 2,396 $ 4,541 (a) Amounts shown represent outstanding balance. See Note 4 Purchased Loans for additional information. (b) For the estimate of cash flows utilized in our purchased impaired loan accounting, other assumptions and estimates are made, including amortization of first lien balances, pre-payment rates, etc., which are not reflected in this table. (c) The following states had the highest percentage of purchased impaired loans at September 30, 2015: California 16%, Florida 14%, Illinois 11%, Ohio 9%, North Carolina 7%, and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 38% of the purchased impaired portfolio. The following states had the highest percentage of purchased impaired loans at December 31, 2014: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7% and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. (d) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. We generally utilize origination lien balances provided by a third-party, where applicable, which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon lien balances held by others, and as such, are necessarily imprecise and subject to change as we enhance our methodology. Credit Card and Other Consumer Loan Classes Table 61: Credit Card and Other Consumer Loan Classes Asset Quality Indicators Credit Card (a) Other Consumer (b) % of Total Loans % of Total Loans Using FICO Using FICO Dollars in millions Amount Credit Metric Amount Credit Metric September 30, 2015 FICO score greater than 719 $ 2,729 59 % $ 9,396 65 % 650 to 719 1,295 28 3,501 24 620 to 649 197 4 509 4 Less than 620 211 5 580 4 No FICO score available or required (c) 168 4 423 3 Total loans using FICO credit metric 4,600 100 % 14,409 100 % Consumer loans using other internal credit metrics (b) 7,312 Total loan balance $ 4,600 $ 21,721 Weighted-average updated FICO score (d) 733 745 December 31, 2014 FICO score greater than 719 $ 2,717 59 % $ 9,156 64 % 650 to 719 1,288 28 3,459 24 620 to 649 203 4 528 4 Less than 620 239 5 619 4 No FICO score available or required (c) 165 4 557 4 Total loans using FICO credit metric 4,612 100 % 14,319 100 % Consumer loans using other internal credit metrics (b) 8,434 Total loan balance $ 4,612 $ 22,753 Weighted-average updated FICO score (d) 732 744 (a) At September 30, 2015, we had $31 million of credit card loans that are higher risk (i.e., loans with both updated FICO scores less than 660 and in late stage (90+ days) delinquency status). The majority of the September 30, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, New Jersey 8%, Florida 7%, Illinois 7%, Indiana 5%, Maryland 5% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. At December 31, 2014, we had $35 million of credit card loans that are higher risk. The majority of the December 31, 2014 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 7%, New Jersey 7%, Indiana 6%, Florida 6% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. (b) Other consumer loans for which updated FICO scores are used as an asset quality indicator include non-government guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans. Other consumer loans for which other internal credit metrics are used as an asset quality indicator include primarily government guaranteed or insured education loans, as well as consumer loans to high net worth individuals. Other internal credit metrics may include delinquency status, geography or other factors. (c) Credit card loans and other consumer loans with no FICO score available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name, and/or cards secured by collateral. Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes act |
Purchased Loans
Purchased Loans | 9 Months Ended |
Sep. 30, 2015 | |
Purchased Loans [Abstract] | |
Purchased Loans | Note 4 Purchased Loans Purchased Impaired Loans Purchased impaired loan accounting addresses differences between contractual cash flows and cash flows expected to be collected from the initial investment in loans if those differences are attributable, at least in part, to credit quality. Several factors were considered when evaluating whether a loan was considered a purchased impaired loan, including the delinquency status of the loan, updated borrower credit status, geographic information, and updated LTV. GAAP allows purchasers to account for loans individually or to aggregate purchased impaired loans acquired in the same fiscal quarter into one or more pools, provided that the loans h ave common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Purchased impaired homogeneous consumer, residential real estate and smaller balance commercia l loans with common risk characteristics are aggregated into pools where appropriate, whereas commercial loans with a total commitment greater than a defined threshold are accounted for individually. For pooled loans, proceeds of individual loans are not a pplied individually to each loan within a pool, but to the pool’s recorded investment since it is accounted for as a single asset. Upon final disposition of a loan within a pool ( e.g ., payoff, short-sale, foreclosure, etc .), the loan’s carrying value is re moved from the pool and any gain or loss associated with the transaction is retained in the pool’s recorded investment. For example, upon final disposition of a loan by short-sale, the proceeds of the short - sale may be less (or more) than the loan’s record ed investment. This shortfall or loss (excess or gain) is not accounted for as an individual loan sale in our income statement and is instead retained as part of the pool’s recorded investment consistent with our accounting for the pool as a single asset. This treatment is designed to maintain a constant effective yield for recognition of interest income. Accordingly, a pool’s recorded investment includes the net accumulation of realized losses or gains attributable to these final dispositions. As there are no future expected cash flows related to these dispositions, their net carrying value is $0. The recorded investment, including these realized losses and gains, is evaluated for collectability based upon the net present value of the pool’s remaining expec ted cash flows when establishing our ALLL. See below and Note 1 Accounting Policies and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional information. The following table provides balances of purchased impaired loans at September 30, 2015 and December 31, 2014 : Table 66: Purchased Impaired Loans - Balances September 30, 2015 December 31, 2014 In millions Outstanding Balance (a) Recorded Investment Carrying Value Outstanding Balance (a) Recorded Investment Carrying Value Commercial lending Commercial $ 112 $ 43 $ 29 $ 159 $ 74 $ 57 Commercial real estate 184 161 108 307 236 174 Total commercial lending 296 204 137 466 310 231 Consumer lending Consumer 1,864 1,753 1,468 2,145 1,989 1,661 Residential real estate 1,990 2,210 1,744 2,396 2,559 2,094 Total consumer lending 3,854 3,963 3,212 4,541 4,548 3,755 Total $ 4,150 $ 4,167 $ 3,349 $ 5,007 $ 4,858 $ 3,986 (a) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. The excess of undiscounted cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized as interest income over the remaining life of the loan using the constant effective yield method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable difference and is not recognized in income . Subsequent changes in the expected cash flows of i ndividual or pooled purchased impaired loans will either impact the accretable yield or result in an impairment charge to provision for credit losses in the period in which the changes become probable. Decreases to the net present value of expected cash fl ows will generally result in an impairment charge recorded as a provision for credit losses, resulting in an increase to the ALLL , and a reclassification from accretable yield to non-accretable difference. During the first nine months of 2015 , $ 47 million of provision recapture was recorded for purchased impaired loans compared to $86 million of provision recapture during the first nine months of 2014 . Charge-offs (which were specifically for commercial loans greater tha n a defined threshold) during the first nine months of 2015 were $ 7 million compared to $28 million during the first nine months of 2014 . At September 30, 2015 and December 31, 2014 , the ALLL on total purchased impaired loans was $.8 billion and $.9 billion, respectively. For purchased impaired loan pools where an allowance has been recognized, subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded ALLL to the extent applicable, and/or a reclassification from non-accretable differen ce to accretable yield, which will be recognized prospectively. Individual loan transactions where final dispositions have occurred (as noted a bove) result in removal of the loans from their applicable pools for cash flow estimation purposes. The cash flow re-estimation process is completed quarterly to evaluate the appropriateness of the ALLL associated with the purchased impaired loans. Activity for the accretable yield during the first nine months of 2015 and 2014 follows: Table 67: Purchased Impaired Loans - Accretable Yield In millions 2015 2014 January 1 $ 1,558 $ 2,055 Accretion (including excess cash recoveries) (359) (449) Net reclassifications to accretable from non-accretable (a) 218 237 Disposals (66) (24) September 30 $ 1,351 $ 1,819 (a) Approximately 66% and 68% of the net reclassifications for the nine months ended September 30, 2015 and 2014, respectively, were driven by the consumer portfolio and were due to improvements of cash expected to be collected on loans in future periods. The remaining net reclassifications were predominantly due to future cash flow changes in the commercial portfolio. |
Allowances for Loan and Lease L
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | 9 Months Ended |
Sep. 30, 2015 | |
Allowance For Loan And Lease Losses [Abstract] | |
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit Allowance for Loan and Lease Losses We maintain the ALLL at levels that we believe to be a ppropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date. We use the two main portfolio segments – Commercial Lendi ng and Consumer Lending – and develop and document the ALLL under separate methodologies for each of these segments as discussed in Note 1 Accounting Policies. A rollforward of the ALLL and associated loan data follows. Table 68: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total September 30, 2015 Allowance for Loan and Lease Losses January 1 $ 1,571 $ 1,760 $ 3,331 Charge-offs (176) (413) (589) Recoveries 188 135 323 Net (charge-offs) / recoveries 12 (278) (266) Provision for credit losses 48 133 181 Net change in allowance for unfunded loan commitments and letters of credit (7) (7) Other (2) (2) September 30 $ 1,622 $ 1,615 $ 3,237 TDRs individually evaluated for impairment $ 39 $ 263 $ 302 Other loans individually evaluated for impairment 70 70 Loans collectively evaluated for impairment 1,446 601 2,047 Purchased impaired loans 67 751 818 September 30 $ 1,622 $ 1,615 $ 3,237 Loan Portfolio TDRs individually evaluated for impairment (a) $ 420 $ 1,948 $ 2,368 Other loans individually evaluated for impairment 291 291 Loans collectively evaluated for impairment (b) 130,249 66,993 197,242 Fair value option loans (c) 915 915 Purchased impaired loans 204 3,963 4,167 September 30 $ 131,164 $ 73,819 $ 204,983 Portfolio segment ALLL as a percentage of total ALLL 50 % 50 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.24 % 2.19 % 1.58 % September 30, 2014 Allowance for Loan and Lease Losses January 1 $ 1,547 $ 2,062 $ 3,609 Charge-offs (286) (500) (786) Recoveries 230 143 373 Net charge-offs (56) (357) (413) Provision for credit losses 89 132 221 Net change in allowance for unfunded loan commitments and letters of credit (9) (9) Other (2) (2) September 30 $ 1,569 $ 1,837 $ 3,406 TDRs individually evaluated for impairment $ 26 $ 382 $ 408 Other loans individually evaluated for impairment 98 98 Loans collectively evaluated for impairment 1,349 660 2,009 Purchased impaired loans 96 795 891 September 30 $ 1,569 $ 1,837 $ 3,406 Loan Portfolio TDRs individually evaluated for impairment (a) $ 551 $ 2,064 $ 2,615 Other loans individually evaluated for impairment 402 402 Loans collectively evaluated for impairment (b) 122,705 68,966 191,671 Fair value option loans (c) 1,017 1,017 Purchased impaired loans 405 4,762 5,167 September 30 $ 124,063 $ 76,809 $ 200,872 Portfolio segment ALLL as a percentage of total ALLL 46 % 54 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.26 % 2.39 % 1.70 % (a) TDRs individually evaluated for impairment exclude TDRs that were subsequently accounted for as held for sale loans, but continue to be disclosed as TDRs. (b) Includes $157 million of loans collectively evaluated for impairment based upon collateral values and written down to the respective collateral value less costs to sell at September 30, 2015. Accordingly, there is no allowance recorded for these loans. The comparative amount as of September 30, 2014 was $221 million. (c) Loans accounted for under the fair value option are not evaluated for impairment as these loans are accounted for at fair value. Accordingly, there is no allowance recorded on these loans. Allowance for Unfunded Loan Commitments and Letters of Credit We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is a ppropriate to absorb estimated probable credit losses incurred on these unfunded credit facilities as of the balance sheet date as discussed in Note 1 Accounting Policies. A rollforward of the allowance is presented below. Table 69: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit In millions 2015 2014 January 1 $ 259 $ 242 Net change in allowance for unfunded loan commitments and letters of credit 7 9 September 30 $ 266 $ 251 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities | NOTE 6 INVESTMENT SECURITIES Table 70: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value September 30, 2015 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 8,113 $ 197 $ (19) $ 8,291 Residential mortgage-backed Agency 24,141 402 (34) 24,509 Non-agency 4,151 269 (81) 4,339 Commercial mortgage-backed Agency 1,942 25 (4) 1,963 Non-agency 4,709 59 (11) 4,757 Asset-backed 5,195 72 (33) 5,234 State and municipal 1,999 69 (7) 2,061 Other debt 1,896 43 (6) 1,933 Total debt securities 52,146 1,136 (195) 53,087 Corporate stocks and other 576 1 (1) 576 Total securities available for sale $ 52,722 $ 1,137 $ (196) $ 53,663 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 255 $ 47 $ 302 Residential mortgage-backed Agency 9,044 155 $ (23) 9,176 Non-agency 241 11 252 Commercial mortgage-backed Agency 1,135 57 1,192 Non-agency 768 19 787 Asset-backed 726 - (10) 716 State and municipal 1,973 106 2,079 Other debt 261 1 (1) 261 Total securities held to maturity $ 14,403 $ 396 $ (34) $ 14,765 December 31, 2014 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 5,237 $ 186 $ (1) $ 5,422 Residential mortgage-backed Agency 17,646 438 (41) 18,043 Non-agency 4,723 318 (99) 4,942 Commercial mortgage-backed Agency 2,178 23 (14) 2,187 Non-agency 4,085 88 (11) 4,162 Asset-backed 5,141 78 (32) 5,187 State and municipal 1,953 88 (3) 2,038 Other debt 1,776 43 (6) 1,813 Total debt securities 42,739 1,262 (207) 43,794 Corporate stocks and other 442 (1) 441 Total securities available for sale $ 43,181 $ 1,262 $ (208) $ 44,235 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 248 $ 44 $ 292 Residential mortgage-backed Agency 5,736 166 $ (10) 5,892 Non-agency 270 13 283 Commercial mortgage-backed Agency 1,200 53 1,253 Non-agency 1,010 19 1,029 Asset-backed 759 2 (8) 753 State and municipal 2,042 111 2,153 Other debt 323 6 329 Total securities held to maturity $ 11,588 $ 414 $ (18) $ 11,984 (a) Held to maturity securities transferred from available for sale are included in held to maturity at fair value at the time of transfer. The amortized cost of held to maturity securities included net unrealized gains of $104 million and $125 million at September 30, 2015 and December 31, 2014, respectively, related to securities transferred, which are offset in Accumulated Other Comprehensive Income, net of tax. The fair value of investment securities is impacted by interest rates, credit spreads, market volatility and liquidity conditions. Net unrealized gains and losses in the securities available for sale portfolio are included in Shareholders’ equity as A ccumulated other comprehensive income or loss, net of tax, unless credit-related. Securities held to maturity are carried at amortized cost. At September 30, 2015 , Accumulated other comprehensive income included pretax gains of $ 98 million from derivatives that hedged the purchase of investment securities classified as held to maturity. The gains will be accreted into interest income as an adjustment of yield on the securities. Table 71 presents gross unrealized losses on securities available for sale at September 30, 2015 and December 31, 2014 . The securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and twelve months or more based on the point in time that the fair value declined below the amortized cost basis. The table includes debt securities where a portion of other-than-temporary impairment (OTTI) has been recognized in A ccumulated other comprehensi ve income ( loss ) . Table 71: Gross Unrealized Loss and Fair Value of Securities Available for Sale Unrealized loss position less Unrealized loss position 12 In millions than 12 months months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Loss Value Loss Value Loss Value September 30, 2015 Debt securities U.S. Treasury and government agencies $ (19) $ 3,402 $ (19) $ 3,402 Residential mortgage-backed Agency (17) 3,516 $ (17) $ 963 (34) 4,479 Non-agency (4) 290 (77) 1,412 (81) 1,702 Commercial mortgage-backed Agency (1) 230 (3) 143 (4) 373 Non-agency (10) 1,735 (1) 337 (11) 2,072 Asset-backed (17) 2,088 (16) 464 (33) 2,552 State and municipal (5) 363 (2) 43 (7) 406 Other debt (3) 210 (3) 134 (6) 344 Total debt securities (76) 11,834 (119) 3,496 (195) 15,330 Corporate stocks and other (1) 16 (1) 16 Total $ (76) $ 11,834 $ (120) $ 3,512 $ (196) $ 15,346 December 31, 2014 Debt securities U.S. Treasury and government agencies $ (1) $ 1,426 $ (1) $ 1,426 Residential mortgage-backed Agency (4) 644 $ (37) $ 1,963 (41) 2,607 Non-agency (5) 276 (94) 1,487 (99) 1,763 Commercial mortgage-backed Agency (2) 681 (12) 322 (14) 1,003 Non-agency (4) 928 (7) 335 (11) 1,263 Asset-backed (4) 913 (28) 1,133 (32) 2,046 State and municipal (a) 41 (3) 77 (3) 118 Other debt (2) 314 (4) 186 (6) 500 Total debt securities (22) 5,223 (185) 5,503 (207) 10,726 Corporate stocks and other (1) 15 (1) 15 Total $ (22) $ 5,223 $ (186) $ 5,518 $ (208) $ 10,741 (a) The unrealized loss on these securities was less than $.5 million. The gross unrealized loss on debt securities held to maturity was $ 36 million at September 30, 2015 , with $ 18 million of the loss related to securities with a fair value of $ 3.2 b illion that had been in a continuous loss position less than 12 months and $ 18 million of the loss related to securities with a fair value of $ 972 m illion that had been in a continuous loss position for more than 12 months. The gross unrealized loss on debt securities held to maturity was $22 million at December 31, 2014 , with $1 million of the loss related to securities with a fair value of $134 million that had been in a continuous loss position less than 12 months and $21 million of the loss related to securities with a fair value of $ 1.6 billion that had been in a continuous loss position for more than 12 months. For securities transferred to held to maturity from available for sale, the unrealized loss for purposes of this analysis is determined by comparing the security’s original amortized cost to its current estimated fair value. Evaluating Investment Securities for Other-than-Temporary Impairments For the securities in the preceding Table 71 , as of September 30, 2015 we do not intend to sell and believe we will not be required to sell the securities prior to recovery of the amortized cost basis. A t least quarterly, we conduct a comprehensive security-level assessment on all securities . For those securities in an unrealized loss position we determine if OTTI exists. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basi s. An OTTI loss must be recognized for a debt security in an unrealized loss position if we intend to sell the security or it is more likely than not we will be required to sell the security prior to recovery of its amortized cost basis. In this situation, the amount of loss recognized in income is equal to the difference between the fair value and the amortized cost basis of the security. Even if we do not expect to sell the security, we must evaluate the expected cash flows to be received to determine if we believe a credit loss has occurred. In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income. The portion of the unrealized loss relating to other factors, such as liquidity conditions in the m arket or changes in market interest rates, is recorded in accumulated other comprehensive income ( loss ) . The security-level assessment is performed on each investment security. Our assessment considers the security structure, recent security collateral p erformance metrics if applicable, external credit ratings, failure of the issuer to make scheduled interest or principal payments, our judgment and expectations of future performance, and relevant independent industry research, analysis and forecasts. Resu lts of the periodic assessment are reviewed by a cross-functional senior management team representing Asset & Liability Management, Finance, and Market Risk Management. The senior management team considers the results of the assessments, as well as other f actors, in determining whether the impairment is other-than-temporary. Substantially all of the credit impairment we have recognized relates to non-agency residential mortgage-backed securities and asset-backed securities collateralized by first-lien and second-lien non-agency residential mortgage loans. Potential credit losses on these securit ies are evaluated on a security- by - security basis. Collateral performance assumptions are developed for each security after reviewing collateral composition and col lateral performance statistics. This includes analyzing recent delinquency roll rates, loss se verities, voluntary prepayments and various other collateral and performance metrics. This information is then combined with general expectations on the housing m arket , employment and other macro economic factors to develop estimates of future performance. Security level assumptions for prepayments, loan defaults and loss given default are applied to each non-agency residential mortgage-backed security and asset-ba cked security collateralized by first-lien and second-lien non-agency residential mortgage loans using a third-party cash flow model. The third-party cash flow model then generates projected cash flows according to the structure of each security. Based on the results of the cash flow analysis, we determine whether we expect that we will recover the amortized cost basis of our security. For those securities on our balance sheet where we determined losses represented OTTI, we have recorded cumulative credit losses of $ 1.1 billion at September 30, 2015. During the first nine months and third quarters of 2015 and 2014, the OTTI credit losses recognized in noninterest income and the OTTI noncredit losses recognized in accumulated other comprehensive income (loss), net of tax, on securities were not significant. Information relating to gross realized securities gains and losses from the sales of securities is set forth in the following table. Table 72: Gains (Losses) on Sales of Securities Available for Sale Gross Gross Net Tax In millions Proceeds Gains Losses Gains Expense Nine months ended September 30 2015 $ 3,445 $ 54 $ (13) $ 41 $ 14 2014 $ 3,606 $ 29 $ (25) $ 4 $ 1 The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at September 30, 2015 . Table 73: Contractual Maturity of Debt Securities September 30, 2015 After 1 Year After 5 Years After 10 Dollars in millions 1 Year or Less through 5 Years through 10 Years Years Total Securities Available for Sale U.S. Treasury and government agencies $ 509 $ 1,607 $ 5,469 $ 528 $ 8,113 Residential mortgage-backed Agency 109 981 23,051 24,141 Non-agency 4 - 4,147 4,151 Commercial mortgage-backed Agency 86 114 83 1,659 1,942 Non-agency 50 28 8 4,623 4,709 Asset-backed 14 1,257 1,826 2,098 5,195 State and municipal 3 122 328 1,546 1,999 Other debt 142 1,230 358 166 1,896 Total debt securities available for sale $ 804 $ 4,471 $ 9,053 $ 37,818 $ 52,146 Fair value $ 810 $ 4,550 $ 9,185 $ 38,542 $ 53,087 Weighted-average yield, GAAP basis 2.82 % 2.25 % 2.36 % 2.95 % 2.78 % Securities Held to Maturity U.S. Treasury and government agencies $ 255 $ 255 Residential mortgage-backed Agency $ 199 8,845 9,044 Non-agency 241 241 Commercial mortgage-backed Agency $ 935 143 57 1,135 Non-agency 6 762 768 Asset-backed 5 591 130 726 State and municipal 56 888 1,029 1,973 Other debt 261 261 Total debt securities held to maturity $ 1,002 $ 2,082 $ 11,319 $ 14,403 Fair value $ 1,045 $ 2,147 $ 11,573 $ 14,765 Weighted-average yield, GAAP basis 3.50 % 3.09 % 3.50 % 3.44 % Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security. At September 30, 2015 , there were no securities of a single issuer, other than FNMA , that exceeded 10% of T otal shareholders’ equity. The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outstanding borrowings. Table 74: Fair Value of Securities Pledged and Accepted as Collateral September 30 December 31 In millions 2015 2014 Pledged to others $ 10,186 $ 10,874 Accepted from others: Permitted by contract or custom to sell or repledge 1,167 1,658 Permitted amount repledged to others 1,008 1,488 The securities pledged to others include positions held in our portfolio of investment securities, trading securities, and securities accepted as collateral from others that we are permitted by contract or custom to sell or repledge , and were used to secure public and trust deposits, repurchase agreements, and for other purposes. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value [Abstract] | |
Fair Value | Note 7 Fair Value Fair Value Measurement PNC measures certain financial assets and liabilities at fair value in accordance with GAAP. Fair value is defined in GAAP as the price that would be received to sell an asset or the price that would be paid to transfer a liability on the measurement date. GAAP focuses on the exit price in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also establishes a fair value hierarchy to maximize the use of observable inputs when measuring fair value. For more information regarding the fair value hierarchy see Note 7 Fair Value in our 2014 Form 10-K. Assets and Liabilities Measured at Fair Value on a Recurring Basis For mo re information on the valuation methodologies used to measure assets and liabilities at fair value on a recurring basis, see Note 7 Fair Value in our 2014 Form 10-K. The following table summarizes our assets and liabilities measured at fair value on a recurring basis, including instruments for w hich PNC has elected the fair value option. Table 75: Fair Value Measurements - Recurring Basis Summary September 30, 2015 December 31, 2014 Total Total In millions Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Assets Securities available for sale U.S. Treasury and government agencies $ 7,674 $ 617 $ 8,291 $ 4,795 $ 627 $ 5,422 Residential mortgage-backed Agency 24,509 24,509 18,043 18,043 Non-agency 124 $ 4,215 4,339 144 $ 4,798 4,942 Commercial mortgage-backed Agency 1,963 1,963 2,187 2,187 Non-agency 4,757 4,757 4,162 4,162 Asset-backed 4,723 511 5,234 4,624 563 5,187 State and municipal 2,045 16 2,061 1,904 134 2,038 Other debt 1,903 30 1,933 1,783 30 1,813 Total debt securities 7,674 40,641 4,772 53,087 4,795 33,474 5,525 43,794 Corporate stocks and other 513 63 576 426 15 441 Total securities available for sale 8,187 40,704 4,772 53,663 5,221 33,489 5,525 44,235 Financial derivatives (a) (b) Interest rate contracts 4 5,823 43 5,870 4 4,874 40 4,918 Other contracts 360 2 362 314 2 316 Total financial derivatives 4 6,183 45 6,232 4 5,188 42 5,234 Residential mortgage loans held for sale (c) 1,081 5 1,086 1,255 6 1,261 Trading securities (d) Debt (e) 915 974 3 1,892 1,340 960 32 2,332 Equity 9 9 21 21 Total trading securities 924 974 3 1,901 1,361 960 32 2,353 Trading loans (a) 37 37 30 7 37 Residential mortgage servicing rights 962 962 845 845 Commercial mortgage servicing rights 505 505 506 506 Commercial mortgage loans held for sale (c) 802 802 893 893 Equity investments (a) Direct investments 1,215 1,215 1,152 1,152 Indirect investments (f) 406 406 469 469 Total equity investments 1,621 1,621 1,621 1,621 Customer resale agreements (g) 139 139 155 155 Loans (h) 565 350 915 637 397 1,034 Other assets (a) BlackRock Series C Preferred Stock (i) 312 312 375 375 Other 238 192 7 437 190 226 8 424 Total other assets 238 192 319 749 190 226 383 799 Total assets $ 9,353 $ 49,875 $ 9,384 $ 68,612 $ 6,776 $ 41,940 $ 10,257 $ 58,973 Liabilities Financial derivatives (b) (j) Interest rate contracts $ 4 $ 3,892 $ 9 $ 3,905 $ 3,260 $ 12 $ 3,272 BlackRock LTIP 312 312 375 375 Other contracts 251 122 373 241 139 380 Total financial derivatives 4 4,143 443 4,590 3,501 526 4,027 Trading securities sold short (k) Debt 1,035 7 1,042 $ 1,479 11 1,490 Total trading securities sold short 1,035 7 1,042 1,479 11 1,490 Other borrowed funds (k) 74 62 136 92 181 273 Other liabilities (j) 5 10 15 9 9 Total liabilities $ 1,039 $ 4,229 $ 515 $ 5,783 $ 1,479 $ 3,604 $ 716 $ 5,799 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Amounts at September 30, 2015 and December 31, 2014, are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow PNC to net positive and negative positions and cash collateral held or placed with the same counterparty. At September 30, 2015 and December 31, 2014, the net asset amounts were $3.6 billion and $2.6 billion, respectively, and the net liability amounts were $1.9 billion and $1.4 billion, respectively. (c) Included in Loans held for sale on our Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. (d) Fair value includes net unrealized gains of $43 million at September 30, 2015 compared with net unrealized gains of $54 million at December 31, 2014. (e) Approximately 33% of these securities are residential mortgage-backed securities and 48% are U.S. Treasury and government agencies securities at September 30, 2015. Comparable amounts at December 31, 2014 were 34% and 57%, respectively. (f) The indirect equity funds are not redeemable, but PNC receives distributions over the life of the partnership from liquidation of the underlying investments by the investee, which we expect to occur over the next twelve years. The amount of unfunded contractual commitments as of September 30, 2015 related to indirect equity investments was $113 million and related to direct equity investments was $26 million, respectively. Comparable amounts at December 31, 2014 were $112 million and $28 million, respectively. (g) Included in Federal funds sold and resale agreements on our Consolidated Balance Sheet. PNC has elected the fair value option for these items. (h) Included in Loans on our Consolidated Balance Sheet. (i) PNC has elected the fair value option for these shares. (j) Included in Other liabilities on our Consolidated Balance Sheet. (k) Included in Other borrowed funds on our Consolidated Balance Sheet. Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the three and nine months ended September 30, 2015 and 2014 follow: Table 76: Reconciliation of Level 3 Assets and Liabilities Three Months Ended September 30, 2015 Unrealized gains (losses) Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only June 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2015 2015 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,424 $ 30 $ (9) $ (230) $ 4,215 Asset-backed 531 5 2 (27) 511 (1) State and municipal 16 16 Other debt 33 (1) $ 8 $ (5) (5) 30 Total securities available for sale 5,004 35 (8) 8 (5) (262) 4,772 (1) Financial derivatives 36 39 (30) 45 48 Residential mortgage loans held for sale 10 1 4 (1) $ 2 $ (11) 5 Trading securities - Debt 3 3 Residential mortgage servicing rights 1,015 (137) 111 23 (50) 962 (136) Commercial mortgage servicing rights 543 (44) 15 14 (23) 505 (44) Commercial mortgage loans held for sale 757 19 874 (848) 802 7 Equity investments Direct investments 1,191 36 87 (99) 1,215 39 Indirect investments 425 27 3 (49) 406 27 Total equity investments 1,616 63 90 (148) 1,621 66 Loans 365 4 29 (13) (24) 10 (21) 350 1 Other assets BlackRock Series C Preferred Stock 363 (51) 312 (51) Other 7 7 Total other assets 370 (51) 319 (51) Total assets $ 9,719 $ (71) (e) $ (8) $ 257 $ (167) $ 911 $ (1,237) $ 12 $ (32) $ 9,384 $ (110) (f) Liabilities Financial derivatives (d) $ 498 $ (54) $ (1) $ 443 $ (57) Other borrowed funds 165 1 $ 23 (127) 62 Other liabilities 10 10 Total liabilities $ 673 $ (53) (e) $ 23 $ (128) $ 515 $ (57) (f) Three Months Ended September 30, 2014 Unrealized gains (losses) Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only June 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2014 2014 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 5,107 $ 31 $ (5) $ (222) $ 4,911 $ (1) Asset-backed 619 3 9 (39) 592 State and municipal 345 1 346 Other debt 31 31 Total securities available for sale 6,102 34 5 (261) 5,880 (1) Financial derivatives 41 46 $ 1 (59) 29 30 Residential mortgage loans held for sale 4 3 $ 5 $ (8) 4 Trading securities - Debt 33 1 34 Residential mortgage servicing rights 967 (4) 28 $ 23 (36) 978 (3) Commercial mortgage servicing rights 515 5 16 19 (23) 532 5 Commercial mortgage loans held for sale 521 6 349 (9) 867 6 Equity investments Direct investments 1,219 48 93 $ (125) 1,235 38 Indirect investments 574 28 7 (56) 553 27 Total equity investments 1,793 76 100 (181) 1,788 65 Loans (g) 373 22 29 (4) (22) 7 (22) 383 20 Other assets BlackRock Series C Preferred Stock 335 10 345 10 Other 8 8 Total other assets 343 10 353 10 Total assets $ 10,692 $ 196 (e) $ 5 $ 177 $ (185) $ 391 $ (410) $ 12 $ (30) $ 10,848 $ 132 (f) Liabilities Financial derivatives (d) $ 454 $ 75 $ (30) $ 499 $ 51 Other borrowed funds 183 3 $ 10 (16) 180 Total liabilities $ 637 $ 78 (e) $ 10 $ (46) $ 679 $ 51 (f) Nine Months Ended September 30, 2015 Unrealized Total realized / unrealized gains (losses) gains or losses for the period (a) on assets and Included liabilities held on Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Consolidated Only Dec. 31, Included in comprehensive into out of Sept. 30, Balance Sheet In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2015 at Sept. 30, 2015 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,798 $ 85 $ (31) $ (637) $ 4,215 $ (1) Commercial mortgage backed non-agency 8 (8) Asset-backed 563 16 11 (79) 511 (1) State and municipal 134 (1) (117) 16 Other debt 30 1 (1) $ 11 $ (5) (6) 30 Total securities available for sale 5,525 110 (22) 11 (5) (847) 4,772 (2) Financial derivatives 42 126 1 (124) 45 115 Residential mortgage loans held for sale 6 1 21 (3) (1) $ 4 $ (23) 5 1 Trading securities - Debt 32 (29) 3 Trading loans 7 (7) Residential mortgage servicing rights 845 (69) 261 61 (136) 962 (69) Commercial mortgage servicing rights 506 (26) 43 48 (66) 505 (26) Commercial mortgage loans held for sale 893 63 (56) 2,965 (3,063) 802 3 Equity investments Direct investments 1,152 92 225 (254) 1,215 79 Indirect investments 469 62 11 (136) 406 60 Total equity investments 1,621 154 236 (390) 1,621 139 Loans 397 19 84 (21) (96) 21 (54) 350 10 Other assets BlackRock Series C Preferred Stock 375 (63) 312 (63) Other 8 (1) 7 Total other assets 383 (63) (1) 319 (63) Total assets $ 10,257 $ 315 (e) $ (22) $ 657 $ (482) $ 3,074 $ (4,363) $ 25 $ (77) $ 9,384 $ 108 (f) Liabilities Financial derivatives (d) $ 526 $ (28) $ 1 $ (56) $ 443 $ (69) Other borrowed funds 181 4 $ 69 (192) 62 Other liabilities 9 1 10 Total liabilities $ 716 $ (23) (e) $ 1 $ 69 $ (248) $ 515 $ (69) (f) Nine Months Ended September 30, 2014 Unrealized Total realized / unrealized gains (losses) gains or losses for the period (a) on assets and Included liabilities held Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value on Consolidated Only Dec. 31, Included in comprehensive into out of Sept. 30, Balance Sheet In millions 2013 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2014 at Sept. 30, 2014 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 5,358 $ 105 $ 80 $ (632) $ 4,911 $ (4) Asset-backed 641 11 28 (88) 592 State and municipal 333 (2) 15 346 Other debt 38 1 $ 1 $ (7) (2) 31 Total securities available for sale 6,370 115 123 1 (7) (722) 5,880 (4) Financial derivatives 36 165 2 (174) 29 105 Residential mortgage loans held for sale 8 1 11 (3) (1) $ 9 $ (21) 4 1 Trading securities - Debt 32 2 34 2 Residential mortgage servicing rights 1,087 (120) 45 $ 66 (100) 978 (115) Commercial mortgage servicing rights (20) 32 36 484 (g) 532 (20) Commercial mortgage loans held for sale 586 13 349 (81) 867 13 Equity investments Direct investments 1,069 120 261 (215) 1,235 101 Indirect investments 595 61 19 (121) (1) 553 59 Total equity investments 1,664 181 280 (336) (1) 1,788 160 Loans (g) 527 41 85 (142) (69) 17 (76) 383 34 Other assets BlackRock Series C Preferred Stock 332 13 345 13 Other 8 8 Total other assets 340 13 353 13 Total assets $ 10,650 $ 391 (e) $ 123 $ 456 $ (488) $ 451 $ (664) $ 26 $ (97) $ 10,848 $ 189 (f) Liabilities Financial derivatives (d) $ 439 $ 145 $ 1 $ (86) $ 499 $ 9 Other borrowed funds 199 $ 29 (48) 180 Total liabilities $ 638 $ 145 (e) $ 1 $ 29 $ (134) $ 679 $ 9 (f) (a) Losses for assets are bracketed while losses for liabilities are not. (b) PNC's policy is to recognize transfers in and transfers out as of the end of the reporting period. (c) The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period. (d) Includes swaps entered into in connection with sales of certain Visa Class B common shares. (e) Net losses (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $18 million for the third quarter of 2015, while for the first nine months of 2015 there were $338 million of net gains (realized and unrealized) included in earnings. The comparative amounts included net gains (realized and unrealized) of $118 million for the third quarter of 2014 and net gains (realized and unrealized) of $246 million for the first nine months of 2014. These amounts also included amortization and accretion of $36 million for the third quarter of 2015 and $113 million for the first nine months of 2015. The comparative amounts were $37 million for the third quarter of 2014 and $122 million for the first nine months of 2014. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains/(losses) (realized and unrealized) were included in Noninterest income on the Consolidated Income Statement. (f) Net unrealized losses relating to those assets and liabilities held at the end of the reporting period were $53 million for the third quarter of 2015, while for the first nine months of 2015 there were $177 million of net unrealized gains. The comparative amounts included net unrealized gains of $81 million for the third quarter of 2014 and net unrealized gains of $180 million for the first nine months of 2014. These amounts were included in Noninterest income on the Consolidated Income Statement. (g) Settlements relating to commercial MSRs include $552 million, which represents the fair value as of January 1, 2014 as a result of an irrevocable election to measure all classes of commercial MSRs at fair value. Refer to Note 8 Goodwill and Other Intangible Assets in our 2014 Form 10-K for additional information on this election. An instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Changes from one quarter to the next related to the observability of inputs to a fair value measurement may result in a reclassification (transfer) of assets or liabilities between hierarchy levels. PNC’s policy is to recognize transfers in and transfers out as of the end of the reporting period. There were no significa nt transfers into or out of Level 3 assets and liabilities during the first nine months of 2015 and 2014. Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 77: Fair Value Measurements - Recurring Quantitative Information September 30, 2015 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,215 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.0%) (a) using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.4%) (a) pricing model (a) Loss severity 10.0%-98.5% (53.2%) (a) Spread over the benchmark curve (b) 252bps weighted average (a) Asset-backed securities 511 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.7% (6.5%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (6.8%) (a) pricing model (a) Loss severity 15.0%-100% (76.5%) (a) Spread over the benchmark curve (b) 333bps weighted average (a) Residential mortgage servicing rights 962 Discounted cash flow Constant prepayment rate (CPR) 0.3%-34.8% (11.8%) Spread over the benchmark curve (b) 555bps-1,851bps (932bps) Commercial mortgage servicing 505 Discounted cash flow Constant prepayment rate (CPR) 5.7%-29.1% (7.2%) rights Discount rate 1.8%-7.6% (7.4%) Commercial mortgage loans held 802 Discounted cash flow Spread over the benchmark curve (b) 62bps-3,595bps (468bps) for sale Estimated servicing cash flows 0.0%-3.8% (0.6%) Equity investments - Direct investments 1,215 Multiple of adjusted earnings Multiple of earnings 4.2x-15.0x (7.9x) Equity investments - Indirect (d) 406 Net asset value Net asset value Loans - Residential real estate 121 Consensus pricing (c) Cumulative default rate 2.0%-100% (85.5%) Loss severity 0.0%-100% (28.9%) Discount rate 4.9%-7.0% (5.2%) 118 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.5% weighted average Loans - Home equity 111 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (53.0%) BlackRock Series C Preferred Stock 312 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (312) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain Visa (117) Discounted cash flow Estimated conversion factor of Class B common shares Class B shares into Class A shares 164.3% (e) Estimated growth rate of Visa Class A share price 18.0% Other borrowed funds - non-agency securitization (51) Consensus pricing (c) Credit and Liquidity discount 0%-100.0% (10.0%) Insignificant Level 3 assets, net of liabilities (f) 71 Total Level 3 assets, net of liabilities (g) $ 8,869 December 31, 2014 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,798 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-28.9% (6.8%) (a) using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.6%) (a) pricing model (a) Loss severity 6.1%-100.0% (53.1%) (a) Spread over the benchmark curve (b) 249bps weighted average (a) Asset-backed securities 563 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.7% (5.9%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (7.6%) (a) pricing model (a) Loss severity 14.6%-100.0% (73.5%) (a) Spread over the benchmark curve (b) 352bps weighted average (a) State and municipal securities 132 Discounted cash flow Spread over the benchmark curve (b) 55bps-165bps (67bps) 2 Consensus pricing (c) Credit and Liquidity discount 0.0%-20.0% (14.9%) Other debt securities 30 Consensus pricing (c) Credit and Liquidity discount 7.0%-95.0% (88.6%) Trading securities - Debt 32 Consensus pricing (c) Credit and Liquidity discount 0.0%-15.0% (8.0%) Residential mortgage servicing rights 845 Discounted cash flow Constant prepayment rate (CPR) 3.8%-32.7% (11.2%) Spread over the benchmark curve (b) 889bps-1,888bps (1,036bps) Commercial mortgage servicing rights 506 Discounted cash flow Constant prepayment rate (CPR) 7.0%-16.8% (8.0%) Discount rate 2.5%-8.6% (6.6%) Commercial mortgage loans held for sale 893 Discounted cash flow Spread over the benchmark curve (b) 37bps-4,025bps (549bps) Estimated servicing cash flows 0.0%-2.0% (1.2%) Equity investments - Direct investments 1,152 Multiple of adjusted earnings Multiple of earnings 3.2x-13.9x (7.7x) Equity investments - Indirect (d) 469 Net asset value Net asset value Loans - Residential real estate 114 Consensus pricing (c) Cumulative default rate 2.0%-100.0% (90.5%) Loss severity 0.0%-100.0% (35.6%) Discount rate 5.4%-7.0% (6.4%) 154 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.4% weighted average Loans - Home equity 129 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (51.0%) BlackRock Series C Preferred Stock 375 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (375) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain (135) Discounted cash flow Estimated conversion factor of Visa Class B common shares Class B shares into Class A shares 41.1% Estimated growth rate of Visa Class A share price 14.8% Other borrowed funds - non-agency securitization (166) Consensus pricing (c) Credit and Liquidity discount 0.0%-99.0% (18.0%) Spread over the benchmark curve (b) 113bps Insignificant Level 3 assets, net of liabilities (f) 23 Total Level 3 assets, net of liabilities (g) $ 9,541 (a) Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2015 totaling $3,561 million and $478 million, respectively, were priced by a third-party vendor using a discounted cash flow pricing model that incorporates consensus pricing, where available. The comparable amounts as of December 31, 2014 were $4,081 million and $532 million, respectively. The significant unobservable inputs for these securities were provided by the third-party vendor and are disclosed in the table. Our procedures to validate the prices provided by the third-party vendor related to these securities are discussed further in the Fair Value Measurement section of Note 7 Fair Value in our 2014 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2015 of $654 million and $33 million, respectively, were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. The comparable amounts as of December 31, 2014 were $717 million and $31 million, respectively. (b) The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest-rate risks, such as credit and liquidity risks. (c) Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices. (d) The range on these indirect equity investments has not been disclosed since these investments are recorded at their net asset redemption values. (e) This conversion factor reflects the 4-for-1 split of Visa Class A common shares, which occurred during the first quarter of 2015. (f) Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities (for the 2015 period), state and municipal securities (for the 2015 period), other debt securities (for 2015 period), residential mortgage loans held for sale, trading loans, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Fair Value Measurement discussion included in Note 7 Fair Value in our 2014 Form 10-K. (g) Consisted of total Level 3 assets of $9,384 million and total Level 3 liabilities of $515 million as of September 30, 2015 and $10,257 million and $716 million as of December 31, 2014, respectively. Financial Assets Accounted for at Fair Value on a Nonrecurring Basis We may be required to measure certain financial assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of lower of amortized cost or fair value accounting or write-downs of individual assets due to impairment and are included in Table 78 and Table 79 . For more information regarding the valuation methodologie s of our financial assets measured at fair value on a nonrecurring basis, see Note 7 Fair Value in our 2014 Form 10-K. Table 78: Fair Value Measurements - Nonrecurring Gains (Losses) Gains (Losses) Fair Value (a) Three months ended Nine months ended September 30 December 31 September 30 September 30 September 30 September 30 In millions 2015 2014 2015 2014 2015 2014 Assets Nonaccrual loans $ 44 $ 54 $ (41) $ (3) $ (48) $ (12) Loans held for sale 8 Equity investments 1 17 OREO and foreclosed assets 129 168 (6) (7) (18) (16) Long-lived assets held for sale 18 22 (2) (2) (16) (12) Total assets $ 192 $ 269 $ (49) $ (12) $ (82) $ (40) (a) All Level 3 as of September 30, 2015 and December 31, 2014, except for $8 million included in Loans held for sale which was categorized as Level 2 as of December 31, 2014. Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 79: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) September 30, 2015 Assets Nonaccrual loans (a) $ 24 LGD percentage (b) Loss severity 9.0%-75.3% (60.9%) Equity investments 1 Discounted cash flow Market rate of return 5.0% Other (c) 167 Fair value of property or collateral Appraised value/sales price Not meaningful Total assets $ 192 December 31, 2014 Assets Nonaccrual loans (a) $ 29 LGD percentage (b) Loss severity 2.9%-68.5% (42.1%) Equity investments 17 Discounted cash flow Market rate of return 6.0% Other (c) 215 Fair value of property or collateral Appraised value/sales price Not meaningful Total assets $ 261 (a) The fair value of nonaccrual loans included in this line item is determined based on internal loss rates. The fair value of nonaccrual loans where the fair value is determined based on the appraised value or sales price is included within Other, below. (b) LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. (c) Other included Nonaccrual loans of $20 million, OREO and foreclosed assets of $129 million and Long-lived assets held for sale of $18 million as of September 30, 2015. Comparably, as of December 31, 2014, Other included Nonaccrual loans of $25 million, OREO and foreclosed assets of $168 million and Long-lived assets held for sale of $22 million. The fair value of these assets is determined based on appraised value or sales price, the range of which is not meaningful to disclose. Financial Instruments Accounted For Under Fair Value Option We elect the fair value option to account for certain financial instruments. For more information on these financial instruments for which the fair value option election has been made, please refer to Note 7 Fair Value in our 2014 Form 10-K. The changes in fair value included in Noninterest income for items f or which we elected the fair value option follow. Table 80: Fair Value Option - Changes in Fair Value (a) Gains (Losses) Gains (Losses) Three months ended Nine months ended September 30 September 30 September 30 September 30 In millions 2015 2014 2015 2014 Assets Customer resale agreements $ (1) $ (2) $ (1) $ (3) Trading loans 2 1 Commercial mortgage loans held for sale 25 6 81 13 Residential mortgage loans held for sale 56 26 127 155 Residential mortgage loans – portfolio 8 26 37 113 BlackRock Series C Preferred Stock (51) 10 (63) 13 Liabilities Other borrowed funds (2) (3) (4) (a) The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. Fair values and aggregate unpaid principal balances of items for which we elected the fair value option follow. Table 81: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference September 30, 2015 Assets Customer resale agreements $ 139 $ 134 $ 5 Trading loans 37 37 Residential mortgage loans held for sale Performing loans 1,074 1,025 49 Accruing loans 90 days or more past due 3 3 Nonaccrual loans 9 10 (1) Total 1,086 1,038 48 Commercial mortgage loans held for sale (a) Performing loans 800 813 (13) Nonaccrual loans 2 3 (1) Total 802 816 (14) Residential mortgage loans - portfolio Performing loans 221 278 (57) Accruing loans 90 days or more past due 462 465 (3) Nonaccrual loans 232 378 (146) Total 915 1,121 (206) Liabilities Other borrowed funds $ 136 $ 135 $ 1 December 31, 2014 Assets Customer resale agreements $ 155 $ 148 $ 7 Trading loans 37 37 Residential mortgage loans held for sale Performing loans 1,236 1,176 60 Accruing loans 90 days or more past due 9 9 Nonaccrual loans 16 17 (1) Total 1,261 1,202 59 Commercial mortgage loans held for sale (a) Performing loans 873 908 (35) Nonaccrual loans 20 64 (44) Total 893 972 (79) Residential mortgage loans - portfolio Performing loans 194 256 (62) Accruing loans 90 days or more past due 570 573 (3) Nonaccrual loans 270 449 (179) Total 1,034 1,278 (244) Liabilities Other borrowed funds $ 273 $ 312 $ (39) (a) There were no accruing loans 90 days or more past due within this category at September 30, 2015 or December 31, 2014. Additional Fair Value Information Related to Other Financial Instruments The following table presents the carrying amounts and estimated fair values, including the level within the fair value hierarchy, of all other financial instruments that are not measured on the consolidated financial statements at fair value as of September 30, 2015 and December 31, 2014 . Table 82: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 September 30, 2015 Assets Cash and due from banks $ 3,835 $ 3,835 $ 3,835 Short-term assets 36,644 36,644 $ 36,644 Securities held to maturity 14,403 14,765 302 14,456 $ 7 Loans held for sale 172 181 117 64 Net loans (excludes leases) 193,170 195,774 195,774 Other assets 1,900 2,473 1,857 616 (a) Total assets $ 250,124 $ 253,672 $ 4,137 $ 53,074 $ 196,461 Liabilities Demand, savings and money market deposits $ 224,097 $ 224,097 $ 224,097 Time deposits 20,882 20,934 20,934 Borrowed funds 55,790 56,066 54,674 $ 1,392 Unfunded loan commitments and letters of credit 249 249 249 Total liabilities $ 301,018 $ 301,346 $ 299,705 $ 1,641 December 31, 2014 Assets Cash and due from banks $ 4,360 $ 4,360 $ 4,360 Short-term assets 34,380 34,380 $ 34,380 Securities held to maturity 11,588 11,984 292 11,683 $ 9 Loans held for sale 108 108 56 52 Net loans (excludes leases) 192,573 194,564 194,564 Other assets 1,879 2,544 1,802 742 (a) Total assets $ 244,888 $ 247,940 $ 4,652 $ 47,921 $ 195,367 Liabilities Demand, savings and money market deposits $ 210,838 $ 210,838 $ 210,838 Time deposits 21,396 21,392 21,392 Borrowed funds 55,329 56,011 54,574 $ 1,437 Unfunded loan commitments and letters of credit 240 240 240 Total liabilities $ 287,803 $ 288,481 $ 286,804 $ 1,677 (a) Represents estimated fair value of Visa Class B common shares, which was estimated solely based upon the September 30, 2015 and December 31, 2014 closing price for the Visa Class A common shares, respectively, and the Visa Class B common share conversion rate, which reflects adjustments in respect of all litigation funding by Visa as of that date. The transfer restrictions on the Visa Class B common shares could impact the aforementioned estimate, until they can be converted to Class A common shares. See Note 22 Commitments and Guarantees in our 2014 Form 10-K for additional information. T he aggregate fair values in the preceding table represent only a portion of the total market value of PNC’s assets and liabilities as , in accordance with the guidance related to fair values of financial instruments, T able 82 excludes the following: financial instruments recorded at fair value on a recurring basis, real and personal property, lease financing, loan customer relationships, deposit customer intangibles, mortgage servicing rights, retail branch networks, fee-based busines ses, such as asset management and brokerage, and trademarks and brand names. For more information regarding the methods and assumptions used to estimate the fair values of financial instruments included in Table 82 , see Note 7 Fair Value in our 2014 Form 10-K. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 8 Goodwill and Intangible Assets Goodwill Goodwill by business segment consisted of the following: Table 83: Goodwill by Business Segment (a) September 30 December 31 In millions 2015 2014 Retail Banking $ 5,795 $ 5,795 Corporate & Institutional Banking 3,244 3,244 Asset Management Group 64 64 Total $ 9,103 $ 9,103 (a) The Residential Mortgage Banking and Non-Strategic Assets Portfolio business segments did not have any goodwill allocated to them as of September 30, 2015 and December 31, 2014. Mortgage Servicing Rights We recognize the right to service mortgage loans for others as an intangible asset. MSRs are purchased or originated when loans are sold with servicing retained. MSRs totaled $1.5 billion and $1.4 billion at September 30, 2015 and December 31 , 2014 , respectively, and consisted of loan servicing contracts for commercial and residential mortgages measured at fair value . MSRs are subject to declines in value from actual or expected prepaym ent of t he underlying loans and defaults as well as market driven changes in interest rates . We manage this risk by economically hedging the fair value of MSRs with securities and derivative instruments which are expected to increase (or decrease) in value when th e value of MSRs declines (or increases). See the Sensitivity Analysis section of this Note 8, as well as Note 7 Fair Value for more detail on our fair value measurement of MSRs. Refer to Note 8 Goodwill and Other Intangible Assets in our 2014 Form 10-K for more information on our accounting and measurement of MSRs. Changes in the commercial and residential MSRs follow: Table 84: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2015 2014 2015 2014 January 1 $ 506 $ 552 $ 845 $ 1,087 Additions: From loans sold with servicing retained 48 36 61 66 Purchases 43 32 261 45 Changes in fair value due to: Time and payoffs (a) (66) (68) (136) (100) Other (b) (26) (20) (69) (120) September 30 $ 505 $ 532 $ 962 $ 978 Related unpaid principal balance at September 30 $ 143,915 $ 143,449 $ 121,680 $ 110,749 Servicing advances at September 30 $ 277 $ 318 $ 431 $ 486 (a) Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period. (b) Represents MSR value changes resulting primarily from market-driven changes in interest rates. Sensitivity Analysis The fair value of commercial and residential MSRs and significant inputs to the valuation models as of September 30, 2015 are shown in the tables below. The expected and actual rates of mortgage loan prepayments are significant factors driving the fair value. Management uses both internal proprietary models and a third-party model to estimate future commercial mortgage loan prepayments and a third-party model to estimate future residential mortgage loan prepayments. T he s e model s have been refined based on current market conditions and management judgment . Future interest rates are another important factor in the valuation of MSRs. Management utilizes market implied forward interest rates to estimate the future directio n of mortgage and discount rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. Changes in the shape and slope of the forward curve in future periods may result in volatility in the fair value estimate. A sensitivity analysis of the hypothetical effect on the fair value of MSRs to adverse changes in key assumptions is presented below. These sensitivities do not include the impact of the related hedging activities. Changes in fair value generally cannot be extrapolated because the relationship of the change in the assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fa ir value of the MSRs is calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, changes in mortgage interest rates, which drive changes in prepayment rate estimates, c ould result in changes in the interest rate spread), which could either magnify or counteract the sensitivities. The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on th e fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions: Table 85: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2015 2014 Fair value $ 505 $ 506 Weighted-average life (years) 4.8 4.7 Weighted-average constant prepayment rate 7.22 % 8.03 % Decline in fair value from 10% adverse change $ 10 $ 10 Decline in fair value from 20% adverse change $ 20 $ 19 Effective discount rate 7.36 % 6.59 % Decline in fair value from 10% adverse change $ 14 $ 13 Decline in fair value from 20% adverse change $ 28 $ 26 Table 86: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2015 2014 Fair value $ 962 $ 845 Weighted-average life (years) 5.9 6.1 Weighted-average constant prepayment rate 11.82 % 11.16 % Decline in fair value from 10% adverse change $ 45 $ 36 Decline in fair value from 20% adverse change $ 86 $ 69 Weighted-average option adjusted spread 9.32 % 10.36 % Decline in fair value from 10% adverse change $ 33 $ 31 Decline in fair value from 20% adverse change $ 64 $ 61 Fees from mortgage loan servicing, comprised of contractually specified servicing fees, late fees and ancillary fees, follows: Table 87: Fees from Mortgage Loan Servicing In millions 2015 2014 Nine months ended September 30 $ 381 $ 381 Three months ended September 30 $ 133 $ 125 We also generate servicing fees from fee-based activities provided to others for which we do not have an associated servicing asset . Fees from comm ercial and resid ential MSRs are reported on our Consolidated Income Statement in th e line items Corporate services and Residential mortgage , respectively. Other Intangible Assets Other intangible assets consist primarily of core deposit intangibles, customer lists and non-compete agreements. Core deposit intangibles are amortized on an accelerated basis, whereas the remaining other intangible assets are amortized on a straight-line basis. The estimated remaining useful lives of our other intangible assets range from 1 year to 9 years , with a weighted-average remaining useful life of 6 years . Other intangible assets were as follows at September 30, 2015 and December 31 , 2014 : Table 88: Other Intangible Assets September 30 December 31 In millions 2015 2014 Gross carrying amount $ 1,499 $ 1,502 Accumulated amortization (1,092) (1,009) Net carrying amount $ 407 $ 493 Amortization expense on existing other intangible assets for the first nine months of 2015 and 2014, as well as future amortization expense for the remainder of 2015 and the next five fiscal years, follows: Table 89: Amortization Expense on Existing Other Intangible Assets In millions Nine months ended September 30, 2015 $ 86 Nine months ended September 30, 2014 96 Remainder of 2015 28 2016 97 2017 83 2018 72 2019 61 2020 37 |
Capital Securities of a Subsidi
Capital Securities of a Subsidiary Trust and Perpetual Trust Securities | 9 Months Ended |
Sep. 30, 2015 | |
Capital Securities of Subsidiary Trusts [Abstract] | |
Capital Securities of a Subsidiary Trust and Perpetual Trust Securities | Note 9 Capital Securities of a Subsidiary Trust and Perpetual Trust Securities Capital Securities of a Subsidiary Trust Our capital securities of a subsidiary trust (“Trust”) are described in Note 1 2 Capital Securities of a Subsidiary Trust and Perpetual Trust Securities in our 2014 Form 10-K. This Trust is a wholly-owned finance subsidiary of PNC. In the event of certain changes or amendments to regulatory requirements or federal tax rules, th e capital securities are redeemable in whole. In accordance with GAAP, t he fi nancial statements of the Trust are not included in PNC's consolidated financial st atements . The obligations of the parent of the Trust, when taken collectively, are the equivale nt of a full and unconditional guarantee of the obligations of the Trust under the terms of the Capital S ecurities. Such guarantee is subordinate in right of payment in the same manner as other junior subordinated debt. There are certain restrictions on PN C’s overall ability to obtain funds from its subsidiaries. For additional disclosure on these funding restrictions, including an explanation of dividend and intercompa ny loan limitations, see Note 20 Regulatory Matters in our 2014 Form 10-K. PNC i s also subject to restrictions on dividends and other provisions potentially impos ed under the Exchange Agreement with PNC Preferred Funding Trust II, as described in Note 12 in our 2014 Form 10-K in the Perpetual Trust Securities section, and to other provisions similar to or in some ways more restrictive than those potentially imposed under that agreement . Perpetual Trust Securities Our perpetual trust securities are described in Note 12 in our 2014 Form 10-K. Our 2014 Form 1 0-K also includes additional information regarding the PNC Preferred Funding Trust I and Trust II Securities, including descriptions of replacement capital and dividend restriction covenants. |
Certain Employee Benefit and St
Certain Employee Benefit and Stock Based Compensation Plans | 9 Months Ended |
Sep. 30, 2015 | |
Employee Benefit Plans [Abstract] | |
Certain Employee Benefit and Stock Based Compensation Plans | Note 10 Certain Employee Benefit And Stock Based Compensation Plans Pension And Postretirement Plans As described in Note 13 Employee Benefit Plans in our 2014 Form 10-K, we have a noncontributory, qualified defined benefit pension plan covering eligible employees. Benefits are determined using a cash balance formula where earnings credits are a percentage of eligible compensation. Pension contributions are based on an actuarially determined amount necessary to fund total benefits payable to plan participants. We also maintain nonqualified supplemental retirement plans for certain employees and provide certain health care and life insurance benefits for qualifying retired employees (postretirement benefits) through various plans. The non qualified pension and postretirement benefit plans are unfunded . PNC reserves the right to terminate plans or make plan changes at any time. The components of our net periodic pensi on and post retirement benefit cost for the first nine months of 2015 and 2014 , respectively, were as follows: Table 90: Net Periodic Pension and Postretirement Benefits Costs Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Three months ended September 30 In millions 2015 2014 2015 2014 2015 2014 Net periodic cost consists of: Service cost $ 27 $ 26 $ 1 $ 1 $ 2 Interest cost 44 46 3 $ 3 4 4 Expected return on plan assets (75) (72) Amortization of prior service credit (2) (2) (1) (1) Amortization of actuarial losses 8 2 1 Net periodic cost/(benefit) $ 2 $ (2) $ 6 $ 4 $ 4 $ 5 Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Nine months ended September 30 In millions 2015 2014 2015 2014 2015 2014 Net periodic cost consists of: Service cost $ 80 $ 77 $ 2 $ 2 $ 4 $ 4 Interest cost 133 140 9 9 11 12 Expected return on plan assets (223) (216) Amortization of prior service credit (6) (6) (1) (1) Amortization of actuarial losses 23 5 3 Net periodic cost/(benefit) $ 7 $ (5) $ 16 $ 14 $ 14 $ 15 Stock Based Compensation Plans As more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K, we have long-term incentive award plans (Incentive Plans) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted stock, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employ ee directors. Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash. We typically grant a substantial portion of our stock-based compensation awards during the first quarter of the year. As of September 30, 2015 , no stock appreciation rights were outstanding. Total compensation expense recognized related to all share-based payment arrangements during the first nine months of 2015 and 2014 was $ 118 million and $ 133 million, respectively. At September 30, 2015 , there was $ 215 million of unamortized share-based compensation expense related to nonvested equity compensation arrangements, including liability awards granted under the Inc entive Plans. This unamortized cost is expected to be recognized as expense over a period of no longer than five years. Nonqualified Stock Options Beginning in 2014, PNC discontinued the use of stock options as a standard element of our long-term equity incentive compensation programs under our Incentive Plans. Additional information regarding PNC stock options is more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K. The following table represents the stock option activity for the first nine months of 2015. Table 91: Stock Option Rollforward PNC Options Converted From National City PNC Options Total Weighted-Average Weighted-Average Weighted-Average In thousands, except weighted-average data Shares Exercise Price Shares Exercise Price Shares Exercise Price Outstanding at December 31, 2014 6,701 $ 56.41 343 $ 585.23 7,044 $ 82.17 Granted (a) Exercised (1,649) 59.09 (1,649) 59.09 Cancelled (29) 44.61 (34) 731.38 (63) 412.47 Outstanding at September 30, 2015 5,023 $ 55.60 309 $ 569.21 5,332 $ 85.39 Exercisable at September 30, 2015 4,975 $ 55.52 309 $ 569.21 5,284 $ 85.59 (a) PNC did not grant any stock options in the first nine months of 2015. During the first nine months of 2015 , we issued approximately 1.2 million common shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we currently intend to utilize primarily treasury stock for any future stock option exercises. Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards Information on incentive/performance unit share awards and restricted stock/share unit awards is more fully described in Note 14 Stock Based Compensation Plans in our 2014 Form 10-K. Table 92: Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward Nonvested Nonvested Weighted- Restricted Weighted- Incentive/ Average Stock/ Average Performance Grant Date Share Grant Date Shares in thousands Unit Shares Fair Value Units Fair Value December 31, 2014 1,837 $ 69.84 3,652 $ 69.03 Granted 649 90.35 1,048 92.35 Vested/Released (682) 66.17 (1,199) 61.14 Forfeited (37) 73.56 (130) 78.13 September 30, 2015 1,767 $ 78.71 3,371 $ 78.82 In the preceding table, the unit shares and related weighted-average grant date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares, as those dividends will be paid in cash if and when the underlying unit shares are released to the participants. Liability Awards A summary of all nonvested , cash-payable incentive/performance units and restricted share unit activity follows: Table 93: Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units – Rollforward Cash-Payable Incentive/ Cash-Payable Performance Restricted In thousands Units Share Units Total Outstanding at December 31, 2014 177 658 835 Granted 81 364 445 Vested and Released (98) (349) (447) Forfeited (43) (6) (49) Outstanding at September 30, 2015 117 667 784 Included in the preceding table are cash-payable restricted share units granted to certain executives. These grants were made primarily as part of an annual bonus incentive deferral plan. While there are time-based and other vesting criteria, there are generally no market or performance criteria associated with these awards. Prior to the 2015 grant, compensation expense recognized related to these awards was recorded in prior periods as part of the annual cash bonus process. Due to certain requisite serv ice period changes in the award agreements starting with the 2015 grant (for the 2014 performance year), compensation expense is recognized ratably over a four year period commensurate with the performance year plus the three years of service-based vesting requirements. As of September 30, 2015 , the aggregate intrinsic value of all outstanding nonvested cash-payable incentive/performance units and restricted share units was approximately $ 70 million. |
Financial Derivatives
Financial Derivatives | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | Note 11 Financial Derivatives We use derivative financial instruments (derivatives) primarily to help manage exposure to interest rate, market and credit risk and reduce the effects that changes in interest rates may have on net income, the fair value of assets and liabilities, and cash flows. We also enter into derivatives with customers to facilitate their risk management activities. Derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or an other type of asset to the other party based on a notional amount and an underlying as specified in the contract. For more information regarding derivatives see Note 1 Accounting Policies and Note 15 Financial Derivatives in our Notes To Consolidated Fin ancial Statements under Item 8 of our 2014 Form 10-K. The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by PNC : Table 94: Total Gross Derivatives September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Derivatives designated as hedging instruments under GAAP $ 52,710 $ 1,604 $ 217 $ 49,061 $ 1,261 $ 186 Derivatives not designated as hedging instruments under GAAP 313,983 4,628 4,373 291,256 3,973 3,841 Total gross derivatives $ 366,693 $ 6,232 $ 4,590 $ 340,317 $ 5,234 $ 4,027 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. All derivatives are carried on our Consolidated Balance Sheet at fair value. Derivative balances are presented on the Consolidated Balance Sheet on a net basis taking into consideration the effects of legally enforceable master netting agreements and any related cash collateral exchanged with counterparties. Further discussion regarding the rights of setoff associated with these legally enforceable master n etting agreements is included in the Offsetting, Counterparty Credit Risk, and Contingent Features section below. Any nonperformance risk, including credit risk, is included in the determination of the estimated net fair value of the derivatives. Derivatives Designated As Hedging Instruments under GAAP Certain derivatives used to manage interest rate and foreign exchange risk as part of our asset and liability risk management activities are designated as accounting hedges under GAAP. Derivatives hedging the risks associated with changes in the fair value of assets or liabilities are considered fair value hedges, derivatives hedging the variability of expected future cash flows a re considered cash flow hedges , and derivatives hedging a net investme nt in a foreign subsidiary are considered net investment hedges. Designating derivatives as accounting hedges allows for gains and losses on those derivatives, to the extent effective, to be recognized in the income statement in the same period the hedged items affect earnings. Further detail regarding the notional amounts and fair values related to derivatives designated in hedge relationships is presented in the following table: Table 95: Derivatives Designated As Hedging Instruments under GAAP September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Interest rate contracts: Fair value hedges: Receive-fixed swaps $ 24,651 $ 975 $ 20,930 $ 827 $ 38 Pay-fixed swaps (c) 5,145 $ 217 4,233 3 138 Subtotal $ 29,796 $ 975 $ 217 $ 25,163 $ 830 $ 176 Cash flow hedges: Receive-fixed swaps $ 20,423 $ 579 $ 19,991 $ 400 $ 10 Forward purchase commitments 1,366 12 2,778 25 Subtotal $ 21,789 $ 591 $ 22,769 $ 425 $ 10 Foreign exchange contracts: Net investment hedges $ 1,125 38 $ 1,129 $ 6 Total derivatives designated as hedging instruments $ 52,710 $ 1,604 $ 217 $ 49,061 $ 1,261 $ 186 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Includes zero-coupon swaps. Fair Value Hedges We enter into receive-fixed, pay-variable interest rate swaps to hedge changes in the fair value of outstanding fixed-rate debt and borrowings caused by fluctuations in market interest rates. We also enter into pay-fixed, receive-variable interest rate swaps and zero-coupon swaps to hedge changes in the fair value of fixed rate and zero-coupon investment securities caused by fluctuations in market interest rates. For these hedge relationships, we use statistical regression analysis to assess hedge effectiveness at both the inception of the hedge relationship and on an ongoing basis. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness. Further detail regarding gains (los ses) on fair value hedge derivatives and related hedged items is presented in the following table: Table 96: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Gain (Loss) Gain (Loss) Gain (Loss) Gain (Loss) Gain on Related Gain on Related Gain on Related Gain on Related (Loss) on Hedged (Loss) on Hedged (Loss) on Hedged (Loss) on Hedged Derivatives Items Derivatives Items Derivatives Items Derivatives Items Recognized Recognized Recognized Recognized Recognized Recognized Recognized Recognized in Income in Income in Income in Income in Income in Income in Income in Income In millions Hedged Items Location Amount Amount Amount Amount Amount Amount Amount Amount Interest rate U.S. Treasury and Investment contracts Government securities Agencies Securities (interest income) $ (91) $ 93 $ 31 $ (31) $ (79) $ 81 $ (52) $ 55 Interest rate Other Debt Investment contracts Securities securities (interest income) (1) 1 2 (2) (1) 1 1 (1) Interest rate Subordinated debt Borrowed funds contracts (interest expense) 92 (104) (69) 66 8 (37) 5 (23) Borrowed funds Interest rate Bank notes and (interest contracts senior debt expense) 213 (219) (78) 77 190 (199) (19) 15 Total (a) $ 213 $ (229) $ (114) $ 110 $ 118 $ (154) $ (65) $ 46 (a) The ineffective portion of the change in value of our fair value hedge derivatives resulted in net losses of $16 million for the three months ended September 30, 2015 and net losses of $36 million for the nine months ended September 30, 2015 compared with net losses of $4 million for the three months ended September 30, 2014 and net losses of $19 million for the nine months ended September 30, 2014. Cash Flow Hedges We enter into receive-fixed, pay-variable interest rate swaps to modify the interest rate characteristics of designated commercial loans from variable to fixed in order to reduce the impact of changes in future cash flows due to market interest rate changes. For these cash flow hedges, any changes in the fair value of the derivatives that are effective in offsetting changes in the forecasted interest cash flows are recorded in Accumulated other comprehensive income and are reclassified t o interest income in conjunction with the recognition of interest received on the loans. In the 12 months that follow September 30, 2015 , we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net der ivative gains of $ 243 million pretax, or $ 158 million after-tax, in association with interest received on the hedged loans. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to September 30, 2015 . The maximum length of time over which forecasted loan cash flows are hedged is 10 years. We use statistical regression analysis to assess the effectiveness of these hedge relationships at both the inception of the hedge relationship and on an ongoing basis. We also periodically enter into forward purchase and sale contracts to hedge the variability of the consideration that will be paid or rec eived related to the purchase or sale of investment securities. The forecasted purchase or sale is consummated upon gross settlement of the forward contract itself. As a result, hedge ineffectiveness, if any, is typically minimal. Gains and losses on these forward contracts are recorded in Accumulated other comprehensive income and are recognized in earnings when the hedged cash flows affect earnings. In the 12 months that follow September 30, 2015 , we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net derivative gains of $ 33 million pretax, or $ 22 million after-tax, as adjustments of yield on investment securities. As of September 30, 2015 , the maximu m length of time over which forecasted purchase contracts are hedged is t hree months. There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness related to either cash flow hedge strategy. During the first nine months of 2015 and 2014 , there were no gains or losses from cash flow hedge derivatives reclassified to earnings because it became probable that the original forecasted transaction would not occur. Further detail regarding gains (losse s) on derivatives and related cash flows is presented in the following table: Table 97: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Gains (losses) on derivatives recognized in OCI - (effective portion) $ 326 $ (17) $ 522 $ 193 Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) Interest income 80 64 220 200 Noninterest income 12 (1) (2) Total gains (losses) reclassified from accumulated OCI into income - (effective portion) 92 64 219 198 Net unrealized gains (losses) on cash flow hedge derivatives $ 234 $ (81) $ 303 $ (5) (a) All cash flow hedge derivatives are interest rate contracts as of September 30, 2015 and September 30, 2014. (b) The amount of cash flow hedge ineffectiveness recognized in income was not material for the periods presented. Net Investment Hedges We enter into foreign currency forward contracts to hedge non-U.S. Dollar (USD) net investments in foreign subsidiaries against adverse changes in foreign exchange rates. We assess whether the hedging relationship is highly effective in achieving offsetting changes in the value of the hedge and hedged item by qualitatively verifying that the critical terms of the hedge and hedged item match at the inception of the hedging relationship and on an ongoing basis. There were no components of derivative gains or losses excluded from the assessment of the hedge effectiveness. For the first nine months of 2015 and 2014 , there was no net investment hedge ineffectiveness. Further detail on gains (losses) on net investment hedge derivatives is presented in the following table: Table 98: Gains (Losses) on Derivatives - Net Investment Hedges Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Gains (losses) on derivatives recognized in OCI (effective portion) Foreign exchange contracts $ 43 $ 51 $ 32 $ 18 Derivatives Not Designated As Hedging Instruments under GAAP We also enter into derivatives that are not designated as accounting hedges under GAAP . For additional information on derivatives not designated as hedging instruments under GAAP see Note 15 Financial Derivatives in our 2014 Form 10-K. Further detail regarding the notional amounts and fair values related to derivatives not designated in hedge relationships is presented in the fo llowing table: Table 99: Derivatives Not Designated As Hedging Instruments under GAAP September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts: Swaps $ 35,752 $ 972 $ 599 $ 32,459 $ 777 $ 394 Swaptions 928 31 14 1,498 29 22 Futures (c) 25,204 22,084 Futures options 17,000 4 4 12,225 4 Mortgage-backed securities commitments 3,990 20 2 710 4 Subtotal 82,874 1,027 619 68,976 814 416 Loan sales Interest rate contracts: Futures (c) 30 58 Bond options 300 1 300 Mortgage-backed securities commitments 6,027 9 26 4,916 10 21 Residential mortgage loan commitments 1,789 28 1,852 22 Subtotal 8,146 38 26 7,126 32 21 Subtotal $ 91,020 $ 1,065 $ 645 $ 76,102 $ 846 $ 437 Derivatives used for commercial mortgage banking activities: Interest rate contracts: Swaps $ 3,822 $ 103 $ 67 $ 3,801 $ 67 $ 48 Swaptions 439 439 2 1 Futures (c) 21,391 19,913 Commercial mortgage loan commitments 1,607 14 7 2,042 16 10 Subtotal 27,259 117 74 26,195 85 59 Credit contracts: Credit default swaps 79 95 Subtotal $ 27,338 $ 117 $ 74 $ 26,290 $ 85 $ 59 Derivatives used for customer-related activities: Interest rate contracts: Swaps $ 152,068 $ 2,985 $ 2,938 $ 146,008 $ 2,632 $ 2,559 Caps/floors - Sold 5,292 13 4,846 16 Caps/floors - Purchased 6,585 29 6,339 34 Swaptions 5,161 103 10 3,361 62 12 Futures (c) 1,367 3,112 Mortgage-backed securities commitments 3,299 6 8 2,137 3 3 Subtotal 173,772 3,123 2,969 165,803 2,731 2,590 Foreign exchange contracts 11,183 244 246 12,547 223 240 Credit contracts: Risk participation agreements 5,135 2 5 5,124 2 4 Subtotal $ 190,090 $ 3,369 $ 3,220 $ 183,474 $ 2,956 $ 2,834 Derivatives used for other risk management activities: Interest rate contracts $ 833 $ 1 Foreign exchange contracts $ 3,357 $ 77 $ 5 2,661 85 $ 1 Credit contracts: Credit default swaps 15 15 Other contracts (d) 2,163 429 1,881 510 Subtotal 5,535 77 434 5,390 86 511 Total derivatives not designated as hedging instruments $ 313,983 $ 4,628 $ 4,373 $ 291,256 $ 3,973 $ 3,841 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. (d) Includes PNC's obligation to fund a portion of certain BlackRock LTIP programs and the swaps entered into in connection with sales of a portion of Visa Class B common shares. Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table: Table 100: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts $ 144 $ 15 $ 159 $ 125 Loan sales Interest rate contracts (6) 17 62 5 Gains (losses) included in residential mortgage banking activities (a) $ 138 $ 32 $ 221 $ 130 Derivatives used for commercial mortgage banking activities: Interest rate contracts (b) (c) $ 42 $ 4 $ 47 $ 47 Credit contracts (c) (1) Gains (losses) from commercial mortgage banking activities $ 42 $ 4 $ 47 $ 46 Derivatives used for customer-related activities: Interest rate contracts $ 10 $ 15 $ 44 $ 25 Foreign exchange contracts 23 (5) 56 43 Gains (losses) from customer-related activities (c) $ 33 $ 10 $ 100 $ 68 Derivatives used for other risk management activities: Interest rate contracts $ $ 1 $ 1 $ (14) Foreign exchange contracts 94 80 208 73 Other contracts (d) 47 (52) 54 (79) Gains (losses) from other risk management activities (c) $ 141 $ 29 $ 263 $ (20) Total gains (losses) from derivatives not designated as hedging instruments $ 354 $ 75 $ 631 $ 224 (a) Included in Residential mortgage noninterest income. (b) Included in Corporate services noninterest income. (c) Included in Other noninterest income. (d) Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. Credit Derivatives W e have historically enter ed into credit derivatives, specifically credit default swaps and risk participation agreements, as part of our commercial mortgage banking hedging activities and for customer and other risk management purposes. Credit Default Swaps We no longer actively enter into these types of credit derivatives. For more information regarding credit default swaps, see Note 15 Financial D erivatives in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. Risk Participation Agreements We have entered into risk participation agreements to share some of the credit exposure with other counterparties related to interest rate derivative contracts or to take on credit exposure to generate revenue. The notional amount of risk participation agreements sold was $ 2.8 billion at both September 30 , 2015 and December 31, 2014 . For more information regarding risk participation agreements, see Note 15 Financial Derivatives in our Not es To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. Assuming all underlying third party customers referenced in the swap contracts defaulted at September 30, 2015 , the exposure from these agreements would be $ 148 million based on the fair value of the underlying swaps, compared with $ 124 million at December 31, 2014 . Offsetting, Counterparty Credit Risk, and Contingent Features We, generally, utilize a net presentation on the Consolidated Balance Sheet for those derivative financial instruments entered into with counterparties under legally enforceable master netting agreements. The master netting agreements reduce credit risk by permitting th e closeout netting of various types of derivative instruments with the same counterparty upon the occurrence of an event of default. For additional information on derivative offsetting, counterparty credit risk, and contingent features see Note 15 Financ ial Derivatives in our 2014 Form 10-K. Refer to Note 16 Commitments and Guarantees in this Report for additional information related to resale and repurchase agreements offsetting. The following derivative Table 101 shows the impact legally enforceable master netting agreements had on our derivative assets and derivative liabilities as of September 30, 2015 and December 31, 2014 . The table also includ es the fair value of any securities collateral held or pledged under legally enforceable master netting agreements. Cash and securities collateral amounts are included in the table only to the extent of the related net derivative fair values. Table 101: Derivative Assets and Liabilities Offsetting Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Held Under September 30, 2015 Derivative Fair Value Cash Derivative Master Netting Net In millions Assets Offset Amount Collateral Assets Agreements Amounts Derivative assets Interest rate contracts $ 5,871 $ 1,956 $ 432 $ 3,483 $ 240 $ 3,243 Foreign exchange contracts 359 201 22 136 5 131 Credit contracts 2 1 1 Total derivative assets (a) $ 6,232 $ 2,158 $ 455 $ 3,619 (b) $ 245 $ 3,374 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Pledged Under September 30, 2015 Derivative Fair Value Cash Derivative Master Netting Net In millions Liabilities Offset Amount Collateral Liabilities Agreements Amounts Derivative liabilities Interest rate contracts $ 3,905 $ 2,028 $ 539 $ 1,338 $ 1,338 Foreign exchange contracts 251 126 22 103 103 Credit contracts 5 4 1 Other contracts 429 429 429 Total derivative liabilities (a) $ 4,590 $ 2,158 $ 562 $ 1,870 (c) $ 1,870 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Held Under December 31, 2014 Derivative Fair Value Cash Derivative Master Netting Net In millions Assets Offset Amount Collateral Assets Agreements Amounts Derivative assets Interest rate contracts $ 4,918 $ 1,981 $ 458 $ 2,479 $ 143 $ 2,336 Foreign exchange contracts 314 159 47 108 1 107 Credit contracts 2 1 1 Total derivative assets (a) $ 5,234 $ 2,141 $ 506 $ 2,587 (b) $ 144 $ 2,443 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Pledged Under December 31, 2014 Derivative Fair Value Cash Derivative Master Netting Net In millions Liabilities Offset Amount Collateral Liabilities Agreements Amounts Derivative liabilities Interest rate contracts $ 3,272 $ 2,057 $ 483 $ 732 $ 732 Foreign exchange contracts 241 80 20 141 141 Credit contracts 4 4 Other contracts 510 510 510 Total derivative liabilities (a) $ 4,027 $ 2,141 $ 503 $ 1,383 (c) $ 1,383 (a) Included derivative assets and derivative liabilities as of September 30, 2015 totaling $1.4 billion and $1.3 billion, respectively, related to interest rate contracts executed bilaterally with counterparties in the U.S. over-the-counter market and novated to and cleared through a central clearing house. The comparable amounts as of December 31, 2014 totaled $807 million and $657 million, respectively. Derivative assets and liabilities as of September 30, 2015 and December 31, 2014 related to exchange-traded interest rate contracts were not material. As of September 30, 2015 and December 31, 2014, these contracts were not subject to offsetting. The remaining gross and net derivative assets and liabilities relate to contracts executed bilaterally with counterparties that are not settled through an organized exchange or central clearing house. (b) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (c) Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. In addition to using master netting and related collateral agreements to reduce credit risk associated with derivative instruments, we also seek to manage credit risk by evaluating credit ratings of counterparties, by taking collateral and by using internal credit analysis, limits, and monitoring procedures. Collateral may also be exchanged under certain derivative agreements that are not considered master netting agreements. At September 30, 2015 , we held cash, U . S . government securities and mortgage-backed securities totaling $ 1.1 billion under master netting and other collateral agreements to collateralize net derivative assets due from counterparties, and we have pledged cash totaling $ .9 billion unde r these agreements to collateralize net derivative liabilities owed to counterparties. These totals may differ from the amounts presented in the preceding offsetting table because they may include collateral exchanged under an agreement that does not quali fy as a master netting agreement or because the total amount of collateral held or pledged exceeds the net derivative fair value with the counterparty as of the balance sheet date due to timing or other factors. To the extent not netted against the derivat ive fair value under a master netting agreement, the receivable for cash pledged is included in Other assets and the obligation for cash held is included in Other borrowed funds on our Consolidated Balance Sheet. Securities held from counterparties are not recognized on our balance sheet. Likewise securities we have pledged to counterparties remain on our balance sheet. Certain of the master netting agreements and certain other derivative agreements also contain provisions that require PNC’s debt to maint ain an investment grade credit rating from each of the major credit rating agencies. If PNC’s debt ratings were to fall below investment grade, we would be in violation of these provisions and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position on September 30, 2015 was $ .9 billion for whi ch PNC had posted collateral of $ .7 billion in the normal course of business. The maximum additional amount of collateral PNC w ould have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered on September 30, 2015 would be $ .2 billion. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings per Share | |
Earnings per Share | Note 12 Earnings Per Share Table 102: Basic and Diluted Earnings per Common Share Three months ended Nine months ended September 30 September 30 In millions, except per share data 2015 2014 2015 2014 Basic Net income $ 1,073 $ 1,038 $ 3,121 $ 3,150 Less: Net income (loss) attributable to noncontrolling interests 18 1 23 2 Preferred stock dividends and discount accretion and redemptions 64 71 182 189 Net income attributable to common shares 991 966 2,916 2,959 Less: Dividends and undistributed earnings allocated to nonvested restricted shares 3 2 9 Net income attributable to basic common shares $ 991 $ 963 $ 2,914 $ 2,950 Basic weighted-average common shares outstanding 512 529 516 531 Basic earnings per common share (a) $ 1.93 $ 1.82 $ 5.64 $ 5.55 Diluted Net income attributable to basic common shares $ 991 $ 963 $ 2,914 $ 2,950 Less: Impact of BlackRock earnings per share dilution 4 4 14 13 Net income attributable to diluted common shares $ 987 $ 959 $ 2,900 $ 2,937 Basic weighted-average common shares outstanding 512 529 516 531 Dilutive potential common shares (b) (c) 8 8 9 8 Diluted weighted-average common shares outstanding 520 537 525 539 Diluted earnings per common share (a) $ 1.90 $ 1.79 $ 5.52 $ 5.45 (a) Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares (participating securities). (b) No stock options were considered to be anti-dilutive for the three and nine months ended September 30, 2015 and September 30, 2014, respectively. (c) No warrants were considered to be anti-dilutive for the three and nine months ended September 30, 2015 and September 30, 2014, respectively. |
Total Equity and Other Comprehe
Total Equity and Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Other Comprehensive Income [Abstract] | |
Total Equity And Other Comprehensive Income Disclosure [Text Block] | Note 13 Total Equity And Other Comprehensive Income Activity in total equity for the first nine months of 2014 and 2015 follows. Table 103: Rollforward of Total Equity Shareholders' Equity Capital Accumulated Shares Capital Surplus - Other Outstanding Surplus - Common Comprehensive Non- Common Common Preferred Stock Retained Income Treasury controlling Total In millions Stock Stock Stock and Other Earnings (Loss) Stock Interests Equity Balance at December 31, 2013 533 $ 2,698 $ 3,941 $ 12,416 $ 23,251 $ 436 $ (408) $ 1,703 $ 44,037 Cumulative effect of adopting ASC 860-50 (a) 2 2 Balance at January 1, 2014 533 $ 2,698 $ 3,941 $ 12,416 $ 23,253 $ 436 $ (408) $ 1,703 $ 44,039 Net income 3,148 2 3,150 Other comprehensive income (loss), net of tax 291 291 Cash dividends declared Common ($1.40 per share) (748) (748) Preferred (185) (185) Preferred stock discount accretion 4 (4) Common stock activity 1 5 56 61 Treasury stock activity (6) 12 (523) (511) Other 89 (191) (102) Balance at September 30, 2014 (b) 528 $ 2,703 $ 3,945 $ 12,573 $ 25,464 $ 727 $ (931) $ 1,514 $ 45,995 Balance at January 1, 2015 523 $ 2,705 $ 3,946 $ 12,627 $ 26,200 $ 503 $ (1,430) $ 1,523 $ 46,074 Net income 3,098 23 3,121 Other comprehensive income (loss), net of tax 112 112 Cash dividends declared Common ($1.50 per share) (779) (779) Preferred (178) (178) Preferred stock discount accretion 4 (4) Common stock activity 1 3 36 39 Treasury stock activity (14) (58) (1,407) (1,465) Preferred stock redemption - Series K (c) (500) (500) Other 70 (216) (146) Balance at September 30, 2015 (b) 510 $ 2,708 $ 3,450 $ 12,675 $ 28,337 $ 615 $ (2,837) $ 1,330 $ 46,278 (a) Amount represents the cumulative impact of our January 1, 2014 irrevocable election to prospectively measure all classes of commercial MSRs at fair value. See Note 1 Accounting Policies and Note 8 Goodwill and Other Intangible Assets for more information on this election in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. (b) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (c) On May 4, 2015, PNC redeemed all 50,000 shares of its Series K Preferred Stock, as well as all 500,000 Depositary Shares representing fractional interests in such shares, resulting in net outflow of $500 million. Warrants We had 13,385,615 warrants outstanding as of September 30, 2015 compared to 16,885,192 as of December 31, 2014 . The reduction was due to 3,499,577 warrants that were exercised during 2015 . Each warrant entitles the holder to purchase one share of PNC common stock at an exercise price of $67.33 per share. In accordance with the terms of the warrants, the warrants are exercised on a non-cash net basis with the warrant holder receiving PNC common shares determined bas ed on the excess of the market price of PNC common stock on the exercise date over the exercise price of the warrant. In 2015 , we issued 1,059,612 common shares resulting from the exercise of the warrants. The issuance of these shares resulted in a reclassification within Capital s urplus – C ommon s tock and o ther with no impact on PNC’s S hareholder’s equity. The remaining outstanding warrants will expire as of December 31, 2018, and are considered in the calculation of diluted earnings per common s hare in Note 12 Earnings Per Share in this Report. Table 104: Other Comprehensive Income Details of other comprehensive income (loss) are as follows: In millions Pretax Tax After-tax Net unrealized gains (losses) on non-OTTI securities Balance at June 30, 2014 $ 1,048 $ (385) $ 663 Third Quarter 2014 activity Increase in net unrealized gains (losses) on non-OTTI securities (125) 46 (79) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 7 (3) 4 Net unrealized gains (losses) on non-OTTI securities (132) 49 (83) Balance at September 30, 2014 916 (336) 580 Balance at June 30, 2015 731 (268) 463 Third Quarter 2015 activity Increase in net unrealized gains (losses) on non-OTTI securities 139 (52) 87 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 6 (2) 4 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (21) 7 (14) Net unrealized gains (losses) on non-OTTI securities 154 (57) 97 Balance at September 30, 2015 $ 885 $ (325) $ 560 Net unrealized gains (losses) on OTTI securities Balance at June 30, 2014 $ 143 $ (51) $ 92 Third Quarter 2014 activity Increase in net unrealized gains (losses) on OTTI securities 14 (5) 9 Less: OTTI losses realized on securities reclassified to noninterest income (1) 1 Net unrealized gains (losses) on OTTI securities 15 (6) 9 Balance at September 30, 2014 158 (57) 101 Balance at June 30, 2015 122 (44) 78 Third Quarter 2015 activity Increase in net unrealized gains (losses) on OTTI securities 3 (1) 2 Less: OTTI losses realized on securities reclassified to noninterest income (1) (1) Net unrealized gains (losses) on OTTI securities 4 (1) 3 Balance at September 30, 2015 $ 126 $ (45) $ 81 Net unrealized gains (losses) on cash flow hedge derivatives Balance at June 30, 2014 $ 460 $ (168) $ 292 Third Quarter 2014 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives (17) 6 (11) Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 61 (22) 39 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 3 (1) 2 Net unrealized gains (losses) on cash flow hedge derivatives (81) 29 (52) Balance at September 30, 2014 379 (139) 240 Balance at June 30, 2015 621 (227) 394 Third Quarter 2015 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 326 (119) 207 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 74 (27) 47 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 6 (2) 4 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) 12 (4) 8 Net unrealized gains (losses) on cash flow hedge derivatives 234 (86) 148 Balance at September 30, 2015 $ 855 $ (313) $ 542 In millions Pretax Tax After-tax Pension and other postretirement benefit plan adjustments Balance at June 30, 2014 $ (283) $ 103 $ (180) Third Quarter 2014 activity Amortization of actuarial loss (gain) reclassified to other noninterest expense 1 1 Amortization of prior service cost (credit) reclassified to other noninterest expense (3) 1 (2) Total Third Quarter 2014 activity (2) 1 (1) Balance at September 30, 2014 (285) 104 (181) Balance at June 30, 2015 (770) 282 (488) Third Quarter 2015 activity Net pension and other postretirement benefit plan activity Amortization of actuarial loss (gain) reclassified to other noninterest expense 10 (3) 7 Amortization of prior service cost (credit) reclassified to other noninterest expense (3) 1 (2) Total Third Quarter 2015 activity 7 (2) 5 Balance at September 30, 2015 $ (763) $ 280 $ (483) Other Balance at June 30, 2014 $ (13) $ 27 $ 14 Third Quarter 2014 Activity PNC's portion of BlackRock's OCI (10) 4 (6) Net investment hedge derivatives (b) 51 (19) 32 Foreign currency translation adjustments (c) (53) (53) Total Third Quarter 2014 activity (12) (15) (27) Balance at September 30, 2014 (25) 12 (13) Balance at June 30, 2015 (95) 27 (68) Third Quarter 2015 Activity PNC's portion of BlackRock's OCI Net investment hedge derivatives (b) 43 (16) 27 Foreign currency translation adjustments (c) (44) (44) Total Third Quarter 2015 activity (1) (16) (17) Balance at September 30, 2015 $ (96) $ 11 $ (85) In millions Pretax Tax After-tax Net unrealized gains (losses) on non-OTTI securities Balance at December 31, 2013 $ 647 $ (238) $ 409 2014 activity Increase in net unrealized gains (losses) on non-OTTI securities 296 (108) 188 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 21 (8) 13 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 6 (2) 4 Net unrealized gains (losses) on non-OTTI securities 269 (98) 171 Balance at September 30, 2014 916 (336) 580 Balance at December 31, 2014 1,022 (375) 647 2015 activity Increase in net unrealized gains (losses) on non-OTTI securities (75) 27 (48) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 20 (7) 13 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 42 (16) 26 Net unrealized gains (losses) on non-OTTI securities (137) 50 (87) Balance at September 30, 2015 $ 885 $ (325) $ 560 Net unrealized gains (losses) on OTTI securities Balance at December 31, 2013 $ 36 $ (12) $ 24 2014 activity Increase in net unrealized gains (losses) on OTTI securities 118 (43) 75 Less: OTTI losses realized on securities reclassified to noninterest income (4) 2 (2) Net unrealized gains (losses) on OTTI securities 122 (45) 77 Balance at September 30, 2014 158 (57) 101 Balance at December 31, 2014 115 (41) 74 2015 activity Increase in net unrealized gains (losses) on OTTI securities 8 (3) 5 Less: OTTI losses realized on securities reclassified to noninterest income (3) 1 (2) Net unrealized gains (losses) on OTTI securities 11 (4) 7 Balance at September 30, 2015 $ 126 $ (45) $ 81 Net unrealized gains (losses) on cash flow hedge derivatives Balance at December 31, 2013 $ 384 $ (141) $ 243 2014 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 193 (72) 121 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 191 (70) 121 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 9 (4) 5 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) (2) (2) Net unrealized gains (losses) on cash flow hedge derivatives (5) 2 (3) Balance at September 30, 2014 379 (139) 240 Balance at December 31, 2014 552 (202) 350 2015 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 522 (191) 331 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 202 (74) 128 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 18 (7) 11 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) (1) 1 Net unrealized gains (losses) on cash flow hedge derivatives 303 (111) 192 Balance at September 30, 2015 $ 855 $ (313) $ 542 In millions Pretax Tax After-tax Pension and other postretirement benefit plan adjustments Balance at December 31, 2013 $ (374) $ 137 $ (237) 2014 Activity Net pension and other postretirement benefit plan activity 93 (35) 58 Amortization of actuarial loss (gain) reclassified to other noninterest expense 3 (1) 2 Amortization of prior service cost (credit) reclassified to other noninterest expense (7) 3 (4) Total 2014 activity 89 (33) 56 Balance at September 30, 2014 (285) 104 (181) Balance at December 31, 2014 (820) 300 (520) 2015 Activity Net pension and other postretirement benefit plan activity 36 (13) 23 Amortization of actuarial loss (gain) reclassified to other noninterest expense 28 (10) 18 Amortization of prior service cost (credit) reclassified to other noninterest expense (7) 3 (4) Total 2015 Activity 57 (20) 37 Balance at September 30, 2015 $ (763) $ 280 $ (483) Other Balance at December 31, 2013 $ (20) $ 17 $ (3) 2014 Activity PNC's portion of BlackRock's OCI (3) 2 (1) Net investment hedge derivatives (b) 18 (7) 11 Foreign currency translation adjustments (20) (20) Total 2014 activity (5) (5) (10) Balance at September 30, 2014 (25) 12 (13) Balance at December 31, 2014 (59) 11 (48) 2015 Activity PNC's portion of BlackRock's OCI (34) 12 (22) Net investment hedge derivatives (b) 32 (12) 20 Foreign currency translation adjustments (c) (35) (35) Total 2015 activity (37) (37) Balance at September 30, 2015 $ (96) $ 11 $ (85) (a) Cash flow hedge derivatives are interest rate contract derivatives designated as hedging instruments under GAAP. (b) Net investment hedge derivatives are foreign exchange contracts designated as hedging instruments under GAAP. (c) The earnings of PNC's Luxembourg-UK lending business have been indefinitely reinvested: therefore, no U.S. deferred income tax has been recorded on the foreign currency translation of the investment. Table 105: Accumulated Other Comprehensive Income (Loss) Components September 30, 2015 December 31, 2014 In millions Pretax After-tax Pretax After-tax Net unrealized gains (losses) on non-OTTI securities $ 885 $ 560 $ 1,022 $ 647 Net unrealized gains (losses) on OTTI securities 126 81 115 74 Net unrealized gains (losses) on cash flow hedge derivatives 855 542 552 350 Pension and other postretirement benefit plan adjustments (763) (483) (820) (520) Other (96) (85) (59) (48) Accumulated other comprehensive income (loss) $ 1,007 $ 615 $ 810 $ 503 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | Note 14 Income Taxes Table 106: Net Operating Loss Carryforwards and Tax Credit Carryforwards September 30 December 31 In millions 2015 2014 Net Operating Loss Carryforwards: Federal $ 918 $ 997 State $ 2,433 $ 2,594 Tax Credit Carryforwards: Federal $ 35 $ 35 State $ 7 $ 7 The federal net operating loss carryforwards expire in 2032. The state net operating loss carryforwards will expire from 2015 to 2035. The majority of the tax credit carryforwards expire in 2032. All federal and most state net operating loss and credit carryforwards are from acquired entities and utilization is subject to various statutory limitations. It is anticipated that the company will be able to fully utilize its carryforwards for federal tax purposes, but a valuation allowance of $ 63 million has been recorded against certain state tax carryforwards as of September 30, 2015 . If select uncertain tax positions were successfully challenged by a state, the state net operating losses listed above could be reduced by $6 0 million. The Internal Revenue Service (IRS) is currently examining PNC's 2011 through 2013 returns. Examinations by the IRS relating to National City's consolidated federal income tax returns through 2008 were effectively settled. The Company had unrecognized tax benefits of $ 30 million at September 30, 2015 and $77 million at December 31, 2014 . At September 30, 2015 , $ 23 million of unrecogniz ed tax benefits, if recognized, would favorably impact the effective income tax rate. It is reasonably possible that the balance of unrecognized tax benefits could increase or decrease in the next twelve months due to completion of tax authorities’ exam s or the expiration of statutes of limitations. Management estimates that the balance of unrecognized tax benefits could decrease by $ 10 million within the next twelve months. During the nine months ended September 30, 2015, we recognized $ 154 million of amortization, $ 167 million of tax credits, and $ 56 million of other tax benefits associated with qualified investments in low income housing tax credi ts within Income taxes. The amounts for the third quarter of 2015 were $ 52 million, $ 56 million and $ 19 million, respectively. |
Legal Proceedings
Legal Proceedings | 9 Months Ended |
Sep. 30, 2015 | |
Legal Proceedings [Abstract] | |
Legal Proceedings | N OTE 15 Legal Proceedings We establish accruals for legal proceedings, including litigation and regulatory and governmental investigations and inquiries, when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated. Any such accruals are adjusted thereafter as appropriate to reflect changed circumstances. When we are able to do so, we also determine estimates of possible losses or ranges of possible losses, whether in ex cess of any related accrued liability or where there is no accrued liability, for disclosed legal proceedings (“Disclosed Matters,” which are those matters disclosed in this Note 15 as well as those matters disclosed in Note 21 Legal Proceedings in Part II, Item 8 of our 2014 Form 10-K and in Note 15 Legal Proceedings in Part I, Item 1 of our first and second quarter 2015 Forms 10-Q (such prior disclosure collectively referred to as “Prior Disclosure”)). For Disclosed Matters where we are able to est imate such possible losses or ranges of possible losses, as of September 30, 2015, we estimate that it is reasonably possible that we could incur losses in excess of related accrued liabilities, if any, in an aggregate amount of up to approximately $ 725 million. The estimates included in this amount are based on our analysis of currently available information and are subject to significant judgment and a variety of assumptions and uncertainties. As new information is obtained w e may change our estimates. Due to the inherent subjectivity of the assessments and unpredictability of outcomes of legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to us from the legal proceed ings in question. Thus, our exposure and ultimate losses may be higher, and possibly significantly so, than the amounts accrued or this aggregate amount. In our experience, legal proceedings are inherently unpredictable. One or more of the following facto rs frequently contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whether a case brought as a class action will be allowed to proceed on that basis or, if permitted to proceed as a class action, how the class will be defined; the other party is seeking relief other than or in addition to compensatory damages (including, in the case of regulatory and governmental investigations and inquiries, the poss ibility of fines and penalties); the matter presents meaningful legal uncertainties, including novel issues of law; we have not engaged in meaningful settlement discussions; discovery has not started or is not complete; there are significant facts in dispu te; the possible outcomes may not be amenable to the use of statistical or quantitative analytical tools; predicting possible outcomes depends on making assumptions about future decisions of courts or regulatory bodies or the behavior of other parties; and there are a large number of parties named as defendants (including where it is uncertain how damages or liability, if any, will be shared among multiple defendants). Generally, the less progress that has been made in the proceedings or the broader the ran ge of potential results, the harder it is for us to estimate losses or ranges of losses that it is reasonably possible we could incur. As a result of these types of factors, we are unable, at this time, to estimate the losses that it is reasonably possibl e that we could incur or ranges of such losses with respect to some of the matters disclosed, and the aggregate estimated amount provided above does not include an estimate for every Disclosed Matter. Therefore, as the estimated aggregate amount disclosed above does not include all of the Disclosed Matters, the amount disclosed above does not represent our maximum reasonably possible loss exposure for all of the Disclosed Matters. The estimated aggregate amount also does not reflect any of our exposure to m atters not so disclosed, as discussed below under “Other.” We include in some of the descriptions of individual Disclosed Matters certain quantitative information related to the plaintiff’s claim against us as alleged in the plaintiff’s pleadings or other public filings or otherwise publicly available information. While information of this type may provide insight into the potential magnitude of a matter, it does not necessarily represent our estimate of reasonably possible loss or our judgment as to any c urrently appropriate accrual. Some of our exposure in Disclosed Matters may be offset by applicable insurance coverage. We do not consider the possible availability of insurance coverage in determining the amounts of any accruals (although we record the a mount of related insurance recoveries that are deemed probable up to the amount of the accrual) or in determining any estimates of possible losses or ranges of possible losses. The following updates our disclosure of legal proceedings from that provided i n Prior Disclosure. Interchange Litigation The appeal of the order of approval of the United States District Court for the Eastern District of New York in the cases consolidated in that court under the caption In re Payment Card Interchange Fee and Merc hant-Discount Antitrust Litigation (Master File No. 1:05-md-1720-JG-JO) was argued in September 2015 and remains pending. In addition, in July 2015 several objectors filed a motion with the district court to vacate the court’s judgment, including the appro val of the settlement, based on alleged misconduct by one of the counsel for MasterCard and one of the counsel for plaintiffs. This motion remains pending. CBNV Mortgage Litigation In the cases consolidated for pre-trial proceedings in the United States District Court for the Western District of Pennsylvania under the caption In re: Community Bank of Northern Virginia Lending Practices Litigation (No. 03-0425 (W.D. Pa.), MDL No. 1674), we moved for a rehearing by the United States Court of Appeals for th e Third Circuit of its affirmance of the grant of class certification by the district court. Our motion was denied in October 2015. Overdraft Litigation In Dasher v. RBC Bank (10-cv-22190-JLK), currently pending for pre-trial proceedings in the United States District Court for the Southern District of Florida, we filed a motion in December 2014 to compel arbitration as to the claims of the plaintiff based on an arbitration provision added to the PNC account agreement in 2013. In August 2015, the distric t court denied our motion. Later in August 2015, we appealed the denial of our arbitration motion to the court of appeals. The appeal is pending. Lender Placed Insurance Litigation In Montoya, et al. v. PNC Bank, N.A., et al. , (Case No. 1:14-cv-20474-JE M), pending in the United States District Court for the Southern District of Florida, the court granted preliminary approval of the settlement in September 2015. Notice to the class members will be provided following this preliminary approval. Patent In fringement Litigation In October 2015, the plaintiffs in Intellectual Ventures I LLC and Intellectual Ventures II LLC vs. PNC Financial Services Group, Inc., and PNC Bank, NA , (Case No. 2:13-cv-00740-AJS)(IV 1), pending in the United States District Court for the Western District of Pennsylvania, moved to dismiss with prejudice their claims arising from the patents that had not been subject to prior dismissal in this lawsuit. The court has granted this motion. Also in October 2015, in Intellectual Vent ures I LLC and Intellectual Ventures II LLC v. PNC Bank Financial Services Group, Inc., PNC Bank NA, and PNC Merchant Services Company, LP (Case No. 2:14-cv-00832-AKS)(IV 2), pending in the same court as IV 1 , the plaintiffs voluntarily dismissed without p rejudice their claims with respect to three patents that had been invalidated in other lawsuits, leaving two patents at issue in this lawsuit. The plaintiffs moved to deconsolidate IV 1 and IV 2 and to lift the stay. In October this motion was denied. Mor tgage Repurchase Litigation In September 2015, in Residential Funding Company, LLC v. PNC Bank, N.A., et al. (Civil No. 13-3498- JRT-JSM), Residential Funding Company (RFC) filed a motion for leave to file a second amended complaint to add claims based on an asserted principle that loan sellers had a continuing contractual obligation to provide notice of loan defects, which RFC claims should allow it to assert contract claims as to pre-May 14, 2006 loans notwithstanding the prior dismissal of those claims with prejudice. Pre-need Funeral Arrangements In Jo Ann Howard, P.C., et al. v. Cassity , et al. (No. 4:09-CV-1252-ERW), pending in the United States District Court for the Eastern District of Missouri, the parties’ post-trial motions were argued in Augus t 2015. DD Growth Premium Master Fund In June 2014, the liquidators of the DD Growth Premium Master Fund (DD Growth) issued a Plenary Summons in the High Court, Dublin, Ireland, in connection with the provision of administration services to DD Growth by a European subsidiary (GIS Europe) of PN C Global Investment Servicing (PNC GIS), a former subsidiary of PNC. The Plenary Summons was served on GIS Europe in June 2015. In July 2010, PNC completed the sale of PNC GIS to The Bank of New York Mellon Corporation (BNY Mellon). Beginning in February 2014, BNY Mellon has provided notice to PNC of three indemnification claims related to DD Growth funds. PNC’s responsibility for this litigation is subject to the terms and limitations included in the indemnification provisions of the stock purchase agreem ent. In its Statement of Claim, which the liquidator served in July 2015, the liquidator alleges, among other things, that GIS Europe breached its contractual duties to DD Growth as well as an alleged duty of care to DD Growth, and to investors in DD Grow th, and makes claims of breach of the administration and accounting services agreement, breach of the middle office agreement, negligence, gross negligence, and breach of duty. The statement of claim further alleges claims for loss in the net asset value o f the fund and loss of certain subscriptions paid into the fund in the amounts of approximately $283 million and $134 million , respectively . The statement of claim seeks, among other things, damages, costs, and interest. Other Regulatory and Governmental Inquiries PNC is the subject of investigations, audits and other forms of regulatory and governmental inquiry covering a broad range of issues in our banking, securities and other financial services businesses, in some cases as part of reviews of specifi ed activities at multiple industry participants. Over the last few years, we have experienced an increase in regulatory and governmental investigations, audits and other inquiries. Areas of current regulatory or governmental inquiry with respect to PNC inc lude consumer protection, fair lending, mortgage origination and servicing, mortgage and non mortgage-related insurance and reinsurance, municipal finance activities, conduct by broker-dealers, automobile lending practices, and participation in government insurance or guarantee programs, some of which are described in Prior Disclosure. These inquiries, including those described in Prior Disclosure, may lead to administrative, civil or criminal proceedings, and possibly result in remedies including fines, pe nalties, restitution, or alterations in our business practices, and in additional expenses and collateral costs. Our practice is to cooperate fully with regulatory and governmental investigations, audits and other inquiries, including those described in P rior Disclosure. Other In addition to the proceedings or other matters described above, PNC and persons to whom we may have indemnification obligations, in the normal course of business, are subject to various other pending and threatened legal proceedin gs in which claims for monetary damages and other relief are asserted. We do not anticipate, at the present time, that the ultimate aggregate liability, if any, arising out of such other legal proceedings will have a material adverse effect on our financia l position. However, we cannot now determine whether or not any claims asserted against us or others to whom we may have indemnification obligations, whether in the proceedings or other matters described above or otherwise, will have a material adverse eff ect on our results of operations in any future reporting period, which will depend on, among other things, the amount of the loss resulting from the claim and the amount of income otherwise reported for the reporting period. See Note 16 Commitments and Guarantees for additional information regarding the Visa indemnification and our other obligations to provide indemnification, including to current and former officers, directors, employees and agents of PNC and companies we have acquired. |
Commitments and Guarantees
Commitments and Guarantees | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Guarantees [Abstract] | |
Commitments and Guarantees | Note 16 Commitments and Guarantees Commitments In the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. The following table presents our outstanding commitments to extend credit along with significant other commitments as of September 30, 2015 and December 31, 2014 , respectively. Table 107: Commitments to Extend Credit and Other Commitments September 30 December 31 In millions 2015 2014 Commitments to extend credit Total commercial lending $ 100,323 $ 98,742 Home equity lines of credit 17,350 17,839 Credit card 19,622 17,833 Other 4,075 4,178 Total commitments to extend credit 141,370 138,592 Net outstanding standby letters of credit (a) 9,112 9,991 Reinsurance agreements 2,054 4,297 Standby bond purchase agreements (b) 968 1,095 Other commitments (c) 990 962 Total commitments to extend credit and other commitments $ 154,494 $ 154,937 (a) Net outstanding standby letters of credit include $4.9 billion and $5.2 billion which support remarketing programs at September 30, 2015 and December 31, 2014, respectively. (b) We enter into standby bond purchase agreements to support municipal bond obligations. (c) Includes $441 million related to investments in qualified affordable housing projects at both September 30, 2015 and December 31, 2014. Commitments to Extend Credit Commitments to extend credit, or net unfunded loan commitments, represent arrangements to lend funds or provide liquidity subject to specified contractual conditions. These c ommitments generally have fixed expiration dates, may require payment of a fee, and contain termination clauses in the event the customer’s credit quality deteriorates. Based on our historical experience, some commitments expire unfunded, and therefore cas h requirements are substantially less than the total commitment. Net Outstanding Standby Letters of Credit We issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions, in each case t o support obligations of our customers to third parties, such as insurance requirements and the facilitation of transactions involving capital markets pro duct execution. I nternal credit ratings related to our net outstanding standby letters of credit were as follows: Table 108: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit September 30 December 31 2015 2014 Internal credit ratings (as a percentage of portfolio): Pass (a) 94 % 95 % Below pass (b) 6 % 5 % (a) Indicates that expected risk of loss is currently low. (b) Indicates a higher degree of risk of default. If the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program, then upon a draw by a beneficiary, subject to the terms of the letter of credit, we would be obligated to make payment to them. The standby letters of credit outstanding on September 30, 2015 had terms ranging from less than 1 year to 7 years. As of September 30, 2015 , assets of $ 1.0 billion secured certain specifically identified standby letters of credit. In addition, a portion of the remaining standby letters of credit issued on behalf of specific customers is also secured by collateral or guarantees that secure the custo mers’ other obligations to us. The carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $ 182 million at September 30, 2015 and is included in Ot her liabilities on our Consolidated Balance Sheet. Reinsurance Agreements We have a wholly-owned captive insurance subsidiary which provides reinsurance for accidental death & dismemberment, credit life, accident & health and lender placed hazard, all o f which are in run-off. Aggregate maximum exposure up to the specified limits for all reinsurance contracts is as follows: Table 109: Reinsurance Agreements Exposure (a) September 30 December 31 In millions 2015 2014 Accidental Death & Dismemberment $ 1,678 $ 1,774 Credit Life, Accident & Health 376 467 Lender Placed Hazard (b) (c) 2,056 Maximum Exposure (d) $ 2,054 $ 4,297 Maximum Exposure to Quota Share Agreements with 100% Reinsurance $ 375 $ 466 (a) Reinsurance agreements exposure balances represent estimates based on availability of financial information from insurance carriers. (b) Through the purchase of catastrophe reinsurance connected to the Lender Placed Hazard Exposure, should a catastrophic event occur, PNC will benefit from this reinsurance. No credit for the catastrophe reinsurance protection is applied to the aggregate exposure figure. (c) Program was placed into run-off for coverage issued or renewed on or after June 1, 2014 with policy terms one year or less. (d) The Borrower and Lender Paid Mortgage Insurance program was placed into run-off. Most of these policies carry no liability to PNC, and due to immateriality this program is no longer included in the maximum exposure amount. A rollforward of the reinsurance reserves for probable losses for the first nine months of 2015 and 2014 is as follows: Table 110: Reinsurance Reserves - Rollforward In millions 2015 2014 January 1 $ 13 $ 32 Paid Losses (8) (17) Net Provision 5 10 Changes to Agreements (10) September 30 $ 10 $ 15 The reinsurance reserves are declining as the programs are in run-off. There were no other changes to existing agreements nor did we enter into any new relationships. There is a reasonable possibility that losses could be more than or less than the amount reserved due to ongoing uncertainty in various economic, social and other factors that could impact the frequency and severity of claims covered by these reinsurance agreements. At September 30, 2015 , the reasonably possible loss above our accrual was not material . Indemnifications We are a party to numerous acquisition or divestiture agreements under which we have purchased or sold, or agreed to purchase or sell, various types of assets. These agreements can cover the purchase or sale of entire businesses, loan portfolios, branch banks, partial interests in companies, or other types of assets. These agreements generally include indemnification provisions under which we indemnify the third part ies to these agreements against a variety of risks to the indemnified parties as a result of the transaction in question. When PNC is the seller, the indemnification provisions will generally also provide the buyer with protection relating to the quality o f the assets we are selling and the extent of any liabilities being assumed by the buyer. Due to the nature of these indemnification provisions, we cannot quantify the total potential exposure to us resulting from them. We provide indemnification in conn ection with securities offering transactions in which we are involved. When we are the issuer of the securities, we provide indemnification to the underwriters or placement agents analogous to the indemnification provided to the purchasers of businesses fr om us, as described above. When we are an underwriter or placement agent, we provide a limited indemnification to the issuer related to our actions in connection with the offering and, if there are other underwriters, indemnification to the other underwrit ers intended to result in an appropriate sharing of the risk of participating in the offering. Due to the nature of these indemnification provisions, we cannot quantify the total potential exposure to us resulting from them. In the ordinary course of busi ness, we enter into certain types of agreements that include provisions for indemnifying third parties. We also enter into certain types of agreements, including leases, assignments of leases, and subleases, in which we agree to indemnify third parties for acts by our agents, assignees and/or sublessees , and employees. We also enter into contracts for the delivery of technology service in which we indemnify the other party against claims of patent and copyright infringement by third parties. Due to the natu re of these indemnification provisions, we cannot calculate our aggregate potential exposure under them. In the ordinary course of business, we enter into contracts with third parties under which the third parties provide services on behalf of PNC. In man y of these contracts, we agree to indemnify the third party service provider under certain circumstances. The terms of the indemnity vary from contract to contract and the amount of the indemnification liability, if any, cannot be determined. We are a ge neral or limited partner in certain asset management and investment limited partnerships, many of which contain indemnification provisions that would require us to make payments in excess of our remaining unfunded commitments. While in certain of these par tnerships the maximum liability to us is limited to the sum of our unfunded commitments and partnership distributions received by us, in the others the indemnification liability is unlimited. As a result, we cannot determine our aggregate potential exposur e for these indemnifications. In some cases, indemnification obligations of the types described above arise under arrangements entered into by predecessor companies for which we become responsible as a result of the acquisition. Pursuant to their bylaws, PNC and its subsidiaries provide indemnification to directors, officers and, in some cases, employees and agents against certain liabilities incurred as a result of their service on behalf of or at the request of PNC and its subsidiaries. PNC and its subs idiaries also advance on behalf of covered individuals costs incurred in connection with certain claims or proceedings, subject to written undertakings by each such individual to repay all amounts advanced if it is ultimately determined that the individual is not entitled to indemnification. We generally are responsible for similar indemnifications and advancement obligations that companies we acquire had to their officers, directors and sometimes employees and agents at the time of acquisition. We advanced such costs on behalf of several such individuals with respect to pending litigation or investigations during 2015 . It is not possible for us to determine the aggregate potential exposure resulting from the obligation to provide this indemnity or t o advance such costs. Visa Indemnification Our payment services business issues and acquires credit and debit card transactions through Visa U.S.A. Inc. card association or its affiliates (Visa). For additional information on our Visa indemnification and the related interchange litigation see Note 21 Legal Proceedings and Note 22 Commitments and Guarantees in our 2014 Form 10-K. Recourse and Repurchase Obligations As discussed in Note 2 Loan Sale and Servicing Activities and Variable Interest Entities, P NC has sold commercial mortgage, residential mortgage and home equity loans/lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement. One form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets. Commerc ial Mortgage Loan Recourse Obligations We originate and service certain multi-family commercial mortgage loans which are sold to FNMA under FNMA’s Delegated Underwriting and Servicing (DUS) program. We participated in a similar program with the FHLMC. U nder these programs, we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement. At September 30, 2015 and December 31, 2014 , the unpaid principal balance outstanding of loan s sold as a participant in these programs was $ 13 .0 billion and $ 12.3 billion, respectively. The potential maximum exposure under the loss share arrangements was $ 3.9 billion at September 30, 2015 and $ 3.7 billion at December 31, 2014 . If payment is required under these programs, we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred, althou gh the value of the collateral is taken into account in determining our share of such losses. Our exposure and activity associated with these recourse obligations are reported in the Corporate & Institutional Banking segment. We maintain a reserve for est imated losses based upon our exposure. The reserve for losses under these programs totaled $ 38 million and $ 36 million at September 30, 2015 and September 30, 2014 , respectively, and was included in Other liabilities on our Consolidated Balance Sheet. An analysis of the changes in this liability during 2015 and 2014 follows: Table 111: Analysis of Commercial Mortgage Recourse Obligations In millions 2015 2014 January 1 $ 35 $ 33 Reserve adjustments, net 3 3 September 30 $ 38 $ 36 Residential Mortgage Loan and Home Equity Loan/ Line of Credit Repurchase Obligations While residential mortgage loans are sold on a non-recourse basis, we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors. These loan repurchase obligations primarily relate to situations where PNC is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreement s. Repurchase obligation activity associated with residential mortgages is reported in the Residential Mortgage Banking segment. PNC’s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited numbe r of private investors in the financial services industry by National City prior to our acquisition of National City. PNC is no longer engaged in the brokered home equity lending business, and our exposure under these loan repurchase obligations is limited to repurchases of loans sold in these transactions. Repurchase activity associated with brokered home equity loans/lines of credit is reported in the Non-Strategic Assets Portfolio segment. Indemnification and repurchase liabilities are initially recogn ized when loans are sold to investors and are subsequently evaluated by management. Initial recognition and subsequent adjustments to the indemnification and repurchase liability for the sold residential mortgage portfolio are recognized in Residential mor tgage revenue on the Consolidated Income Statement. Since PNC is no longer engaged in the brokered home equity lending business, only subsequent adjustments are recognized to the home equity loans/lines indemnification and repurchase liability. These adjus tments are recognized in Other noninterest income on the Consolidated Income Statement. Management’s subsequent evaluation of these indemnification and repurchase liabilities is based upon trends in indemnification and repurchase requests, actual loss exp erience, risks in the underlying serviced loan portfolios, and current economic conditions. As part of its evaluation, management considers estimated loss projections over the life of the subject loan portfolio. At September 30, 2015 and September 30, 2014 , the total indemnification and repurchase liability for estimated losses on indemnification and repurchase claims totaled $ 117 million and $ 132 million, respectively, and was included in Other lia bilities on the Consolidated Balance Sheet. An analysis of the changes in this liability during 2015 and 2014 follows: Table 112: Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims 2015 2014 Home Home Equity Equity Residential Loans/ Residential Loans/ In millions Mortgages (a) Lines (b) Total Mortgages (a) Lines (b) Total January 1 $ 107 $ 29 $ 136 $ 131 $ 22 $ 153 Reserve adjustments, net 4 (5) (1) (4) 14 10 Losses - loan repurchases and private investor settlements (16) (2) (18) (19) (12) (31) September 30 $ 95 $ 22 $ 117 $ 108 $ 24 $ 132 (a) The unpaid principal balance of loans associated with our exposure to repurchase obligations totaled $66.0 billion and $69.0 billion at September 30, 2015 and September 30, 2014, respectively. (b) Repurchase obligation was associated with sold loan portfolios of $2.2 billion and $2.6 billion at September 30, 2015 and September 30, 2014, respectively. PNC is no longer engaged in the brokered home equity lending business, which was acquired with National City. Management believes the indemnification and repurchase liabilities appropriately reflect the estimated probable losses on indemnification and repurchase claims for all loans sold and outstanding as of September 30, 2015 . In making these estimates, we consider the losses that we expect to incur over the life of the sold loans. While management seeks to obtain all relevant information in estimating the indemnification and repurchase liability, the estimation process is inherently uncertain and imprecise and, accordingly, it is reasonably possible that future indemnification and repurchase losses could be more or less than our established liability. Factors that could affect our estimate include the volume of valid claims driven by investor s trategies and behavior, our ability to successfully negotiate claims with investors, housing prices and other economic conditions. At September 30, 2015 , we estimate that it is reasonably possible that we could incur additional losses in excess of our accrued indemnification and repurchase liability of up to approximately $ 78 million for our portfolio of residential mortgage loans sold. At September 30, 2015 , the reasonably possible loss above our accrual for our p ortfolio of home equity loans/lines of credit sold was not material . This estimate of potential additional losses in excess of our liability is based on assumed higher repurchase claims and lower claim rescissions than our current assumptions. Resale and Repurchase Agreements We enter into repurchase and resale agreements where we transfer investment securities to/from a third party with the agreement to repurchase/resell those investment securities at a fut ure date for a specified price. These agreements are entered into primarily to provide short-term financing for securities inventory positions, acquire securities to cover short positions and accommodate customers’ investing and financing needs. Repurchase and resale agreements are treat ed as collateralized financing transactions for accounting purposes and are generally carried at the amounts at which the securities will be subsequently reacquired or resold, including accrued interest. Our policy is to take possession of securities purch ased under agreements to resell. We monitor the market value of securities to be repurchased and resold and additional collateral may be obtained where considered appropriate to protect against credit exposure. Repurchase and resale agreements are typica lly entered into with counterparties under industry standard master netting agreements which provide for the right to setoff amounts owed to one another with respect to multiple repurchase and resale agreements under such master netting agreement (referred to as netting arrangements) and liquidate the purchased or borrowed securities in the event of counterparty default. In order for an arrangement to be eligible for netting under GAAP, we must obtain the requisite assurance that the offsetting rights inclu ded in the master netting agreement would be legally enforceable in the event of bankruptcy, insolvency, or a similar proceeding of such third party. Enforceability is evidenced by obtaining a legal opinion that supports, with sufficient confidence, the en forceability of the master netting agreement in bankruptcy. Table 113 shows the amounts owed under resale and repurchase agreements and the securities collateral associated with those agreements where a legal opinion supporting the enforceability of the offsetting rights has been obtained. We do not present resale and repurchase agreements entered into with the same counterparty under a legally enforceable master netting agreement on a net basis on our Consolidated Balance Sheet or within Table 113 . The amounts reported in Table 113 exclude the fair value adjustment on the structured resale agreements of $ 5 million and $ 7 million at September 30 , 2015 and December 31, 2014 , respectively, that we have elected to account for at fair value. Refer to Note 7 Fair Value for additional information regarding the structured resale agreements at fair value. Refer to Note 11 Financial Derivatives for additional information related to offsetting of financial derivatives. Table 113: Resale and Repurchase Agreements Offsetting Amounts Securities Offset Collateral Gross on the Net Held Under Resale Consolidated Resale Master Netting Net In millions Agreements Balance Sheet Agreements (a) Agreements (b) Amounts (c) Resale Agreements September 30, 2015 $ 1,143 $ 1,143 $ 1,069 $ 74 December 31, 2014 $ 1,646 $ 1,646 $ 1,569 $ 77 Amounts Securities Offset Collateral Gross on the Net Pledged Under Repurchase Consolidated Repurchase Master Netting Net In millions Agreements Balance Sheet Agreements (d) Agreements (b) Amounts (e) Repurchase Agreements September 30, 2015 $ 2,003 $ 2,003 $ 1,183 $ 820 December 31, 2014 $ 3,406 $ 3,406 $ 2,580 $ 826 (a) Represents the resale agreement amount included in Federal funds sold and resale agreements on our Consolidated Balance Sheet and the related accrued interest income in the amount of less than $1 million at September 30, 2015 and $1 million at December 31, 2014, respectively, which is included in Other Assets on the Consolidated Balance Sheet. (b) Represents the fair value of securities collateral purchased or sold, up to the amount owed under the agreement, for agreements supported by a legally enforceable master netting agreement. (c) Represents certain long term resale agreements which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. (d) Represents the repurchase agreement amount included in Federal funds purchased and repurchase agreements on our Consolidated Balance Sheet and the related accrued interest expense in the amount of less than $1 million at both September 30, 2015 and December 31, 2014, which is included in Other Liabilities on the Consolidated Balance Sheet. (e) Represents overnight repurchase agreements entered into with municipalities, pension plans, and certain trusts and insurance companies which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. There were no long term repurchase agreements as of September 30, 2015 and December 31, 2014. Table 114 summarizes our gross repurchase agreements as of September 30, 2015 by type of collateral pledged. All repurchase agreements have remaining contractual maturities that are classified as overnight or continuous as of September 30, 2015 . Overnight repurchase agreements have a one-day maturity while continuous repurc hase agreements have no fixed maturity date and are cancellable by either party at any time. Table 114: Repurchase Agreements By Type of Collateral Pledged September 30, 2015 Overnight in millions or Continuous Gross Repurchase Agreements U.S. Treasury and government agency securities $ 88 Residential mortgage-backed agency securities 1,847 Commercial mortgage-backed agency securities 68 Total $ 2,003 |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting | Note 17 Segment Reporting We have six reportable business segments: Retail Banking Corporate & Institutional Banking Asset Management Group Residential Mortgage Banking BlackRock Non-Strategic Assets Portfolio Results of individual businesses are presented based on our internal management reporting practices. There is no comprehensive, authoritative body of guidance for management accounting equivalent to GAAP; therefore, the financial results of our individual businesses are not necessarily comparable with similar information for any other company. We periodically refine our internal methodologies as management reporting practices are enhanced. To the extent practicable, retrospective application of new methodol ogies is made to prior period reportable business segment results and disclosures to create comparability with the current period. Financial results are presented, to the extent practicable, as if each business operated on a stand-alone basis. Additionall y, we have aggregated the results for corporate support functions within “Other” for financial reporting purposes. Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors. In the first quarter of 2015, enhancements were made to PNC’s funds transfer pricing methodology primarily for costs related to the new regulatory short-term liquidity standards. The enhancements incorporate an additional charge assigned to assets, including for unfunded loan commitments. Conversely, a higher transfer pricing credit has be en assigned to those deposits that are accorded higher value under Liquidity Coverage Ratio (LCR) rules for liquidity purposes. Please see the Supervision and Regulation section in Item 1 and the Liquidity Risk Management section in Item 7 of our 2014 Form 10-K for more information about the LCR . These adjustments apply to business segment results, primarily favorably impacting Retail Banking and adversely impacting Corporate & Institutional Banking, prospectively beginning with the first quarter of 2015. P rior periods have not been adjusted due to the impracticability of estimating the impact of the change for prior periods. A portion of capital is intended to cover unexpected losses and is assigned to our business segments using our risk-based economic ca pital model, including consideration of the goodwill at those business segments, as well as the diversification of risk among the business segments, ultimately reflecting PNC’s portfolio risk adjusted capital allocation. We have allocated the allowances f or loan and lease losses and for unfunded loan commitments and letters of credit based on the loan exposures within each business segment’s portfolio. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. Our allocation of the costs incurred by operations and other shared support areas not directly aligned wi th the businesses is primarily based on the use of services. Total business segment financial results differ from total consolidated net income. The impact of these differences is reflected in the “Other” category in the business segment tables. “Other” includes residual activities that do not meet the criteria for disclosure as a separate reportable business, such as gains or losses related to BlackRock transactions, integration costs, asset and liability management activities including net securities gains or losses, other-than-temporary impairment of investment se curities and certain trading activities, exited businesses, private equity investments, intercompany eliminations, most corporate overhead, tax adjustments that are not allocated to business segments, and differences between business segment performance re porting and financial statement reporting (GAAP), including the presentation of net income attributable to noncontrolling interests as the segments’ results exclude their portion of net income attributable to noncontrolling interests. Assets, revenue and e arnings attributable to foreign activities were not material in the periods presented for comparative purposes. Business Segment Products a nd Services Retail Banking provides deposit, lending, b rokerage, investment management and cash management services to consumer and small business customers within our primary geographic markets. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. The branch network is located prima rily in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Carolina . Corporate & Institutional Banking provides le nding, treasury management, and capital markets-related products and services to mid-sized and large corporations, government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. Treasur y management services include cash and investment management, receivables management, disbursement services, funds transfer services, information reporting and global trade services. Capital markets-related products and services include foreign exchange, d erivatives, securities, loan syndications , mergers and acquisitions advisory , equity capital markets advisory and related services . We also provide commercial loan servicing and real estate advisory and technology solutions for the commercial real estate f inance industry. P roducts and services are generally provided within our primary geographic markets, with certain products and services offered nationally and internationally. Asset Management Group includes personal wealth management for high net worth a nd ultra high net worth clients and institutional asset management. Wealth management products and services include investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and a dministration for individuals and their families. Hawthorn provides multi-generational family planning including wealth strategy, investment management, private banking, tax and estate planning guidance, performance reporting and personal administration se rvices to ultra high net worth families. Institutional asset management provides investment management, custody administration and retirement administration services. The business also offers PNC proprietary mutual funds. Institutional clients include corp orations, unions, municipalities, non-profits, foundations and endowments, primarily located in our geographic footprint. Residential Mortgage Banking directly originates first lien residential mortgage loans on a nationwide basis with a significant prese nce within the retail banking footprint. Mortgage loans represent loans collateralized by one-to-four family residential real estate. These loans are typically underwritten to government agency and/or third-party standards, and either sold, servicing retai ned, or held on PNC’s balance sheet. Loan sales are primarily to secondary mortgage conduits of FNMA, FHLMC, Federal Home Loan Banks and third-party investors, or are securitized and issued under the GNMA program. The mortgage servicing operation performs all functions related to servicing mortgage loans, primarily those in first lien position, for various investors and for loans owned by PNC. BlackRock is a leading publicly traded investment management firm providing a broad range of investment and risk m anagement services to institutional and retail clients worldwide. Using a diverse platform of active and index investment strategies across asset classes, BlackRock develops investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BlackRock also offers an investment and risk management technology platform, risk analytics and advisory services and solutions to a broad base of institutional investors. We hold an equity investment in BlackRock , which is a key component of our diversified revenue strategy. BlackRock is a publicly traded company, and additional information regarding its business is available i n its filings with the Securities and Exchange Commission (SEC). At September 30, 2015 , our economic interest in BlackRock was 22% . PNC received cash dividends from BlackRock of $240 million and $ 214 million during the first nine months of 2015 and 2014 , respectively. Non-Strategic Assets Portfolio includes a consumer portfolio of mainly residential mortgage and brokered home equity loans and lines of credit, and a small commercial/commercial real es tate loan and lease portfolio. We obta ined a significant portion of these non-strategic assets through acquisitions of other companies. Table 115: Results Of Businesses Corporate & Asset Residential Non-Strategic Three months ended September 30 Retail Institutional Management Mortgage Assets In millions Banking Banking Group Banking BlackRock Portfolio Other Consolidated 2015 Income Statement Net interest income $ 1,068 $ 855 $ 71 $ 31 $ 90 $ (53) $ 2,062 Noninterest income 574 476 207 135 $ 181 16 124 1,713 Total revenue 1,642 1,331 278 166 181 106 71 3,775 Provision for credit losses (benefit) 57 46 (2) 2 (25) 3 81 Depreciation and amortization 42 36 10 4 109 201 Other noninterest expense 1,148 497 201 167 23 115 2,151 Income (loss) before income taxes and noncontrolling interests 395 752 69 (7) 181 108 (156) 1,342 Income taxes (benefit) 144 250 25 (3) 42 40 (229) 269 Net income (loss) $ 251 $ 502 $ 44 $ (4) $ 139 $ 68 $ 73 $ 1,073 Inter-segment revenue $ 7 $ 2 $ 5 $ 3 $ (2) $ (15) Average Assets (a) $ 72,916 $ 131,613 $ 7,902 $ 6,513 $ 6,813 $ 6,460 $ 126,370 $ 358,587 2014 Income Statement Net interest income $ 983 $ 890 $ 72 $ 38 $ 146 $ (25) $ 2,104 Noninterest income 536 464 205 147 $ 196 6 183 1,737 Total revenue 1,519 1,354 277 185 196 152 158 3,841 Provision for credit losses (benefit) 74 (4) (4) (1) (8) (2) 55 Depreciation and amortization 43 33 10 3 105 194 Other noninterest expense 1,132 495 199 165 30 142 2,163 Income (loss) before income taxes and noncontrolling interests 270 830 72 18 196 130 (87) 1,429 Income taxes (benefit) 97 281 26 6 50 48 (117) 391 Net income $ 173 $ 549 $ 46 $ 12 $ 146 $ 82 $ 30 $ 1,038 Inter-segment revenue $ 2 $ 13 $ 3 $ 13 $ 4 $ (7) $ (28) Average Assets (a) $ 74,682 $ 123,671 $ 7,775 $ 7,418 $ 6,562 $ 8,231 $ 101,106 $ 329,445 Corporate & Asset Residential Non-Strategic Nine months ended September 30 Retail Institutional Management Mortgage Assets In millions Banking Banking Group Banking BlackRock Portfolio Other Consolidated 2015 Income Statement Net interest income $ 3,150 $ 2,515 $ 215 $ 91 $ 302 $ (87) $ 6,186 Noninterest income 1,652 1,397 658 488 $ 532 34 425 5,186 Total revenue 4,802 3,912 873 579 532 336 338 11,372 Provision for credit losses (benefit) 151 83 11 2 (61) (5) 181 Depreciation and amortization 127 109 33 11 315 595 Other noninterest expense 3,431 1,485 603 499 73 381 6,472 Income (loss) before income taxes and noncontrolling interests 1,093 2,235 226 67 532 324 (353) 4,124 Income taxes (benefit) 399 743 83 24 125 119 (490) 1,003 Net income $ 694 $ 1,492 $ 143 $ 43 $ 407 $ 205 $ 137 $ 3,121 Inter-segment revenue $ 1 $ 20 $ 7 $ 14 $ 11 $ (6) $ (47) Average Assets (a) $ 73,430 $ 131,678 $ 7,922 $ 6,962 $ 6,813 $ 6,880 $ 119,448 $ 353,133 2014 Income Statement Net interest income $ 2,936 $ 2,681 $ 215 $ 115 $ 425 $ 56 $ 6,428 Noninterest income 1,591 1,255 611 503 $ 528 22 490 5,000 Total revenue 4,527 3,936 826 618 528 447 546 11,428 Provision for credit losses (benefit) 223 86 2 (1) (99) 10 221 Depreciation and amortization 131 96 31 9 293 560 Other noninterest expense 3,299 1,424 579 541 86 460 6,389 Income (loss) before income taxes and noncontrolling interests 874 2,330 214 69 528 460 (217) 4,258 Income taxes (benefit) 318 788 78 25 129 169 (399) 1,108 Net income $ 556 $ 1,542 $ 136 $ 44 $ 399 $ 291 $ 182 $ 3,150 Inter-segment revenue $ 4 $ 18 $ 9 $ 25 $ 12 $ (15) $ (53) Average Assets (a) $ 75,264 $ 121,232 $ 7,687 $ 7,889 $ 6,562 $ 8,563 $ 96,681 $ 323,878 (a) Period-end balances for BlackRock. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 18 S ubsequent Events On November 3, 2015, PNC Bank issued: • $1.0 billion of senior notes with a maturity date of November 5, 2018. Interest is payable semi-annually at a fixed rate of 1.800% on May 5 and November 5 of each year, beginning on May 5, 2016, and • $750 million of senior notes with a maturity date of November 5, 2020. Interest is payable semi-annually at a fixed rate of 2.450% on May 5 and November 5 of each year, beginning on May 5, 2016. |
Accounting Policies (Policy)
Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Notes To Consolidated Financial Statements (Unaudited) The P NC Financial Services Group, Inc. Business The PNC Financial Services Group, Inc. (PNC) is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. We have businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing many of our products and services nationally, as well as other produc ts and services in our primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, North Carolina, Florida, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Missouri, Georgia, Wisconsin and South Car olina. We also provide certain products and services internationally. Note 1 Accounting Policies Basis Of Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly - owned, and certain partnership interests and variable interest entities. We prepared these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP) . We have e liminated intercompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2015 presentation , which did not have a material impact on our consolidated financial condition or results of operations. Additionally, w e evaluate the materiality of identified errors in the financial statements using both an income statement and a balance sheet approach, based on relevant quantitative and qualitative factors. The consolidated financial statements include c ertain adjustments to correct immaterial errors related to previously reported periods . In our opinion, the unaudited interim consolidated financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full ye ar or any other interim period. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2014 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2014 Form 10-K for a detailed description of significant accounting policies. Included herein are policies that are required to be disclosed on an interim basis as well as policies where there has been a significant change within the first nine months of 2015 . These interim consolidated financial statements serve to update the 2014 Form 10-K and may not include all information and notes necessary to constitute a complete set of financial statements. We have also considered the impact of subsequent events on these consolidated financial statements. |
Use of Estimates, Policy [Policy Text Block] | Use Of Estimates We prepared these consolidated financial statements using financial information available at the time of preparation , which requires us to make estimates and assumptions that affect the amounts reported. Our most significant estimates pertain to our fair value measurements, allowances for loan and lease losses and unfunded loan commitments and letters of credit, and acc retion on purchased impaired loans. Actual results may differ from the estimates and the differences may be material to the consolidated financial statements. |
Loans and Leases Receivable, Nonperforming Loan and Lease, Policy [Policy Text Block] | Nonperforming Loans and Leases The matrix below summarizes PNC's policies for classifying certain loans as nonperforming loans and/or discontinuing the accrual of loan interest income. Commercial loans Loans Classified as Nonperforming and Accounted for as Nonaccrual ● Loans accounted for at amortized cost where: – The loan is 90 days or more past due. – The loan is rated substandard or worse due to the determination that full collection of principal and interest is not probable as demonstrated by the following conditions: ○ The collection of principal or interest is 90 days or more past due; ○ Reasonable doubt exists as to the certainty of the borrower's future debt service ability, according to the terms of the credit arrangement, regardless of whether 90 days have passed or not; ○ The borrower has filed or will likely file for bankruptcy; ○ The bank advances additional funds to cover principal or interest; ○ We are in the process of liquidating a commercial borrower; or ○ We are pursuing remedies under a guarantee. Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual ● Loans accounted for under the fair value option and full collection of principal and interest is not probable. ● Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) and full collection of principal and interest is not probable. Loans Excluded from Nonperforming Classification and Nonaccrual Accounting ● Purchased impaired loans because interest income is accreted by nature of the accounting for these assets. ● Loans that are well secured and in the process of collection. Consumer loans Loans Classified as Nonperforming and Accounted for as Nonaccrual ● Loans accounted for at amortized cost where full collection of contractual principal and interest is not deemed probable as demonstrated in the policies below: – The loan is 90 days past due for home equity and installment loans, and 180 days past due for well secured residential real estate loans; – The loan has been modified and classified as a troubled debt restructuring (TDR); – Notification of bankruptcy has been received and the loan is 30 days or more past due; – The bank holds a subordinate lien position in the loan and the first lien loan is seriously stressed (i.e., 90 days or more past due); – Other loans within the same borrower relationship have been placed on nonaccrual or charge-offs have been taken on them; – The bank has repossessed non-real estate collateral securing the loan; or – The bank has charged-off the loan to the value of the collateral. Loans Excluded from Nonperforming Classification but Accounted for as Nonaccrual ● Loans accounted for under the fair value option and full collection of principal and interest is not probable. ● Loans accounted for at the lower of cost or market less costs to sell (Held for Sale) and full collection of principal and interest is not probable. Loans Excluded from Nonperforming Classification and Nonaccrual Accounting ● Purchased impaired loans because interest income is accreted through the accounting model. ● Certain government insured loans where substantially all principal and interest is insured. ● Residential real estate loans that are well secured and in the process of collection. ● Consumer loans and lines of credit, not secured by residential real estate, as permitted by regulatory guidance. See Note 3 Asset Quality in this Report for additional detail on nonperforming assets and asset quality indicators for commercial and consumer loans. Commercial Loans We generally charge off Commercial Lending (Commercial, Commercial Real Estate, and Equipment Lease Financing) nonperforming loans when we determine that a specific loan, or portion thereof, is uncollectible. This determination is based on the specific facts and circumstances of the individual loans. In making this determination, we cons ider the viability of the business or project as a going concern, the past due status when the asset is not well-secured, the expected cash flows to repay the loan, the value of the collateral, and the ability and willingness of any guarantors to perform. Additionally, in general, for smaller dollar commercial loans of $ 1 million or less, a partial or full charge-off occurs at 120 days past due for term loans and 180 days past due for revolvers. Certain small business credit card balances that are placed on nonaccrual status when they become 90 days or more past due are charged-off at 180 days past due. Consumer Loans Home equity installment loans, home equity lines of credit, and residential real estate loans that are not well-s ecured and in the process of collection are charged-off at no later than 180 days past due. At that time, the basis in the loan is reduced to the fair value of the collateral less costs to sell. In addition to this policy, the bank recognizes a charge-off on a secured consumer loan when: The bank holds a subordinate lien position in the loan and a foreclosure notice has been received on the first lien loan; The bank holds a subordinate lien position in the loan which is 30 days or more past due with a combi ned loan to value ratio of greater than or equal to 110% and the first lien loan is seriously stressed ( i.e ., 90 days or more past due); The loan is modified or otherwise restructured in a manner that results in the loan becoming collateral dependent; Not ification of bankruptcy has been received within the last 60 days and the loan is 60 days or more past due; The borrower has been discharged from personal liability through Chapter 7 bankruptcy and has not formally reaffirmed his or her loan obligation to PNC; or The collateral securing the loan has been repossessed and the value of the collateral is less than the recorded investment of the loan outstanding. For loans that continue to meet any of the above policies, collateral values are updated annually and subsequent declines in collateral values are charged-off resulting in incremental provision for credit loss. Most consumer loans and lines of credit, not secured by residential real estate, are charged off after 120-180 days past due. Accounting for Nonperforming Loans and Leases and Other Nonaccrual Loans For accrual loans, interest income is accrued on a monthly basis and certain fees and costs are deferred upon origination and recognized in income over the term of the loan utilizing an effectiv e yield method. For nonaccrual loans, interest income accrual and deferred fee/cost amortization is discontinued. Additionally, the current year accrued and uncollected interest is reversed through Net interest income and prior year accrued and uncollected interest is charged-off. Nonaccrual loans may also be charged-off to reduce the basis to the fair value of collateral less costs to sell. If payment is received on a nonaccrual loan, generally the payment is first applied to the recorded investment; paym ents are then applied to recover any charged-off amounts related to the loan. Finally, if both recorded investment and any charge-offs have been recovered, then the payment will be recorded as fee and interest income. For TDRs, payments are applied based upon their contractual terms unless the related loan is deemed non-performing. TDRs are generally included in nonperforming and nonaccrual loans until returned to performing/accruing status through performance under restructured terms and other performanc e indicators for a reasonable period of time demonstrating that the bank expects to collect all of the loan’s remaining contractual principal and interest. TDRs resulting from 1) borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and 2) borrowers that are not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. Other nonaccrual lo ans are generally not returned to accrual status until the borrower has performed in accordance with the contractual terms and other performance indicators for at least six months, the period of time which was determined to demonstrate the expected collect ion of the loan’s remaining contractual principal and interest. When a nonperforming loan is returned to accrual status, it is then considered a performing loan. See Note 3 Asset Quality and Note 5 Allowances for Loan and Lease Losses an d Unfunded Loan Commitments and Letters of Credit in this Report and in our 2014 Form 10-K for additional TDR information. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance f or Loan a nd Lease Losses We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan and lease portfolios as of the balance sheet date. Our determination of the allowance is based on periodic evaluations of these loan and lease portfolios and other relevant factors. This critical estimate includes signifi cant use of PNC’s own historical data and complex methods to interpret this data. These evaluations are inherently subjective, as they require material estimates and may be susceptible to significant change, and include, among others: Probability of defaul t (PD), Loss given default (LGD), Outstanding balance of the loan, Movement through delinquency stages, Amounts and timing of expected future cash flows, Value of collateral, which may be obtained from third parties, and Qualitative factors, such as changes in current economic conditions, that may not be reflected in modeled results. For all loans, except purchased impaired loans, the ALLL is the sum of three components: ( i ) asset specific/individual impaired reserves, (ii) quantitative (formulaic o r pooled) reserves and (iii) qualitative (judgmental) reserves. The reserve calculation and determination process is dependent on the use of key assumptions. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower, and economic conditions. Key reserve assumptions are periodically updated. Asset Specific/Individual Component Nonperforming loans that are considered impaired under ASC 310 – Receivables, which include all commercial and consumer TDRs, are evaluated for a specific reserve. Specific reserve allocations are determined as follows: For commercial nonperforming loans and commercial TDRs greater than or equal to a defined dollar threshold, specific reserves are based on an analysis of the present value of the loan’s expected future cash flows, the loan’s observable market price or the fair value of the collateral. For commercial nonperforming loans and commercial TDRs below the defined dollar threshold, the individual loan’s loss given default (LGD) percentage is multiplied by the loan balance and the results are aggregated for purposes of measuring specific reserve imp airment. Consumer nonperforming loans are collectively reserved for unless classified as consumer TDRs. For consumer TDRs, specific reserves are determined through an analysis of the present value of the loan’s expected future cash flows, except for those instances where loans have been deemed collateral dependent, including loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC. Once that determination has been made, those TDRs are charged down to the fair value of the collateral less costs to sell at each period end. Commercial Lending Quantitative Component The estimates of the quantitative component of ALLL for incurred losses within the commercial lending portfolio segment are determined through statistical loss modeling utilizing PD, LGD and outstanding balance of the loan. Based upon loan risk ratings, we assign PDs and LGDs. Each of these statistical parameters is determined based on internal his torical data and market data. PD is influenced by such factors as liquidity, industry, obligor financial structure, access to capital and cash flow. LGD is influenced by collateral type, original and/or updated loan-to-value ratio (LTV), facility structure and other factors. Consumer Lending Quantitative Component Quantitative estimates within the consumer lending portfolio segment are calculated primarily using a roll-rate model based on statistical relationships, calculated from historical data that esti mate the movement of loan outstandings through the various stages of delinquency and ultimately charge-off over our loss emergence period. Qualitative Component While our reserve methodologies strive to reflect all relevant risk factors, there continues t o be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between estimates and actual outcomes. We provide additional reserves that are designed to provide coverage for losses attributable to such risks. The ALLL also includes factors that may not be directly measured in the determination of specific or pooled reserves. Such qualitative factors may include: Industry concentrations and con ditions, Recent credit quality trends, Recent loss experience in particular portfolios, Recent macro-economic factors, Model imprecision, Changes in lending policies and procedures, Timing of available information, including the performance of first lien positions, and Limitations of available historical data. Allowance for Purchased Non-Impaired Loans ALLL for purchased non-impaired loans is determined based upon a comparison between the methodologies described above and the remaining acquisition da te fair value discount that has yet to be accreted into interest income. After making the comparison, an ALLL is recorded for the amount greater than the discount, or no ALLL is recorded if the discount is greater. Allowance for Purchased Impaired Loans A LLL for purchased impaired loans is determined in accordance with ASC 310-30 by comparing the net present value of the cash flows expected to be collected to the recorded investment for a given loan (or pool of loans). In cases where the net present value of expected cash flows is lower than the recorded investment, ALLL is established. Cash flows expected to be collected represent management’s best estimate of the cash flows expected over the life of a loan (or pool of loans). For large balance commercial loans, cash flows are separately estimated at the loan level. For smaller balance pooled loans, pool cash flows are estimated using cash flow models. Pools were defined at acquisition based on the risk characteristics of the loan. Our cash flow models use loan data including, but not limited to, contractual loan balance, delinquency status of the loan, updated borrower FICO credit scores, geographic information, historical loss experience, and updated LTVs, as well as best estimates for changes in unemploym ent rates, home prices and other economic factors, to determine estimated cash flows. See Note 4 Purchased Loans and Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. Our credit risk management policies, procedures and practices are designed to promote sound lending standards and prudent credit risk management. We have policies, procedures and practices that address fi nancial statement requirements, collateral review and appraisal requirements, advance rates based upon collateral types, appropriate levels of exposure, cross-border risk, lending to specialized industries or borrower type, guarantor requirements, and regu latory compliance. |
Allowance For Unfunded Loan Commitments And Letters Of Credit [Policy Text Block] | Allowance f or Unfunded Loan Commitments a nd Letters o f Credit We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable credit losses incurred on these unfunde d credit facilities as of the balance sheet date. We determine the allowance based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors, and, solely for commercial le nding, the terms and expiration dates of the unfunded credit facilities. Other than the estimation of the probability of funding, the reserve for unfunded loan commitments is estimated in a manner similar to the methodology used for determining reserves fo r funded exposures. The allowance for unfunded loan commitments and letters of credit is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the allowance for unfunded loan commitments and letters of credit are included in the pro vision for credit losses. See Note 5 Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit for additional loan data and application of the policies disclosed herein. |
Earnings Per Share, Policy [Text Block] | Earnings Per Common Share Basic earnings per common share is calculated using the two-class method to determine income attributable to common shareholders. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are considered participating securities under the two-class method. Income attributable to common shareholders is then divided by the weighted-average common shares outstanding for the period. Diluted earnings per common share is calculated under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, we increase the weighted-average number of shares of common stock outstanding by the assumed conversion of outstandi ng convertible preferred stock from the beginning of the year or date of issuance, if later, and the number of shares of common stock that would be issued assuming the exercise of stock options and warrants and the issuance of incentive shares using the tr easury stock method. These adjustments to the weighted-average number of shares of common stock outstanding are made only when such adjustments will dilute earnings per common share. See Note 12 Earnings Per Share for additional information. |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent ly Adopted Accounting Standards We did not adopt any new accounting standards during the third quarter of 2015. |
Loan Sale and Servicing Activ26
Loan Sale and Servicing Activities and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |
Cash Flows Associated with Loan Sale and Servicing Activities | Table 51: Cash Flows Associated with Loan Sale and Servicing Activities Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) CASH FLOWS - Three months ended September 30, 2015 Sales of loans (c) $ 2,329 $ 846 Repurchases of previously transferred loans (d) 129 $ 90 Servicing fees (e) 84 35 4 Servicing advances recovered/(funded), net 32 (6) 3 Cash flows on mortgage-backed securities held (f) 424 41 CASH FLOWS - Three months ended September 30, 2014 Sales of loans (c) $ 2,153 $ 1,091 Repurchases of previously transferred loans (d) 188 $ 4 Servicing fees (e) 86 34 4 Servicing advances recovered/(funded), net 15 38 Cash flows on mortgage-backed securities held (f) 238 51 CASH FLOWS - Nine months ended September 30, 2015 Sales of loans (c) $ 6,284 $ 3,025 Repurchases of previously transferred loans (d) 432 $ 92 Servicing fees (e) 249 103 12 Servicing advances recovered/(funded), net 70 22 28 Cash flows on mortgage-backed securities held (f) 1,093 155 CASH FLOWS - Nine months ended September 30, 2014 Sales of loans (c) $ 6,437 $ 2,026 Repurchases of previously transferred loans (d) 556 $ 13 Servicing fees (e) 260 101 14 Servicing advances recovered/(funded), net 84 93 6 Cash flows on mortgage-backed securities held (f) 724 242 (a) Represents cash flow information associated with both commercial mortgage loan transfer and servicing activities. (b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. (c) Gains/losses recognized on sales of loans were insignificant for the periods presented. (d) Includes government insured or guaranteed loans eligible for repurchase through the exercise of our ROAP option and loans repurchased due to breaches of origination covenants or representations and warranties made to purchasers. (e) Includes contractually specified servicing fees, late charges and ancillary fees. (f) Represents cash flows on securities we hold issued by a securitization SPE in which PNC transferred to and/or services loans. The carrying value of such securities held were $5.8 billion in residential mortgage-backed securities and $1.1 billion in commercial mortgage-backed securities at September 30, 2015 and $3.5 billion in residential mortgage-backed securities and $1.2 billion in commercial mortgage-backed securities at September 30, 2014. Additionally, at December 31, 2014, the carrying value of such securities held were $3.4 billion in residential mortgage-backed securities and $1.3 billion in commercial mortgage-backed securities. |
Principal Balance, Delinquent Loans (Loans 90 Days or More Past Due), and Net Charge-Offs Related to Serviced Loans | Table 52: Principal Balance, Delinquent Loans, and Net Charge-offs Related to Serviced Loans For Others Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) September 30, 2015 Total principal balance $ 74,338 $ 53,466 $ 3,009 Delinquent loans (c) 2,014 792 933 December 31, 2014 Total principal balance $ 79,108 $ 60,873 $ 3,833 Delinquent loans (c) 2,657 707 1,303 Residential Commercial Home Equity In millions Mortgages Mortgages (a) Loans/Lines (b) Three months ended September 30, 2015 Net charge-offs (d) $ 23 $ 236 $ 6 Three months ended September 30, 2014 Net charge-offs (d) $ 33 $ 439 $ 15 Nine months ended September 30, 2015 Net charge-offs (d) $ 92 $ 491 $ 21 Nine months ended September 30, 2014 Net charge-offs (d) $ 108 $ 1,139 $ 47 (a) Represents information at the securitization level in which PNC has sold loans and is the servicer for the securitization. (b) These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. (c) Serviced delinquent loans are 90 days or more past due or are in process of foreclosure. (d) Net charge-offs for Residential mortgages and Home equity loans/lines represent credit losses less recoveries distributed and as reported to investors during the period. Net charge-offs for Commercial mortgages represent credit losses less recoveries distributed and as reported by the trustee for CMBS securitizations. Realized losses for Agency securitizations are not reflected as we do not manage the underlying real estate upon foreclosure and, as such, do not have access to loss information. |
Consolidated VIEs - Carrying Value | Table 53: Consolidated VIEs – Carrying Value (a) (b) September 30, 2015 Credit Card and Other Tax Credit In millions Securitization Trusts Investments Total Assets Cash and due from banks $ 5 $ 5 Interest-earning deposits with banks 5 5 Loans $ 1,348 6 1,354 Allowance for loan and lease losses (43) (43) Equity investments 114 114 Other assets 19 449 468 Total assets $ 1,324 $ 579 $ 1,903 Liabilities Other borrowed funds $ 51 $ 156 $ 207 Accrued expenses 55 55 Other liabilities 95 95 Total liabilities $ 51 $ 306 $ 357 December 31, 2014 Credit Card and Other Tax Credit In millions Securitization Trusts Investments Total Assets Cash and due from banks $ 6 $ 6 Interest-earning deposits with banks 6 6 Loans $ 1,606 1,606 Allowance for loan and lease losses (50) (50) Equity investments 492 492 Other assets 31 452 483 Total assets $ 1,587 $ 956 $ 2,543 Liabilities Other borrowed funds $ 166 $ 181 $ 347 Accrued expenses 70 70 Other liabilities 206 206 Total liabilities $ 166 $ 457 $ 623 (a) Amounts represent carrying value on PNC’s Consolidated Balance Sheet. (b) Difference between total assets and total liabilities represents the equity portion of the VIE or intercompany assets and liabilities which are eliminated in consolidation. |
Non-Consolidated VIEs | Table 54: Non-Consolidated VIEs PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions September 30, 2015 Commercial Mortgage-Backed Securitizations (b) $ 1,314 $ 1,314 (c) Residential Mortgage-Backed Securitizations (b) 5,783 5,783 (c) $ 1 (e) Tax Credit Investments and Other 2,388 2,447 (d) 719 (f) Total $ 9,485 $ 9,544 $ 720 PNC Risk of Loss (a) Carrying Value of Assets Owned by PNC Carrying Value of Liabilities Owned by PNC In millions December 31, 2014 Commercial Mortgage-Backed Securitizations (b) $ 1,550 $ 1,550 (c) $ 1 (e) Residential Mortgage-Backed Securitizations (b) 3,385 3,385 (c) 4 (e) Tax Credit Investments and Other 2,270 2,304 (d) 777 (f) Total $ 7,205 $ 7,239 $ 782 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts reflect involvement with securitization SPEs where PNC transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Values disclosed in the PNC Risk of Loss column represent our maximum exposure to loss for those securities’ holdings. Additionally, we also invest in other mortgage and asset-backed securities issued by third-party VIEs with which we have no continuing involvement. Further information on these securities is included in Note 6 Investment Securities. (c) Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. (d) Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (e) Included in Other liabilities on our Consolidated Balance Sheet. (f) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. |
Asset Quality (Tables)
Asset Quality (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Asset Quality [Abstract] | |
Analysis of Loan Portfolio | Table 55: Analysis of Loan Portfolio (a) Accruing Current or Less 30-59 60-89 90 Days Total Fair Value Option Purchased Total Than 30 Days Days Days Or More Past Nonperforming Nonaccrual Impaired Loans Dollars in millions Past Due Past Due Past Due Past Due Due (b) Loans Loans (c) Loans (d) (e) September 30, 2015 Commercial Lending Commercial $ 96,952 $ 56 $ 39 $ 36 $ 131 $ 301 $ 43 $ 97,427 Commercial real estate 25,671 32 17 49 212 161 26,093 Equipment lease financing 7,635 2 2 7 7,644 Total commercial lending 130,258 90 56 36 182 520 204 131,164 Consumer Lending Home equity 30,124 69 31 100 1,029 1,753 33,006 Residential real estate (f) 10,691 146 58 585 789 571 $ 231 2,210 14,492 Credit card 4,523 26 18 30 74 3 4,600 Other consumer (g) 21,149 177 102 239 518 54 21,721 Total consumer lending 66,487 418 209 854 1,481 1,657 231 3,963 73,819 Total $ 196,745 $ 508 $ 265 $ 890 $ 1,663 $ 2,177 $ 231 $ 4,167 $ 204,983 Percentage of total loans 95.99 % .25 % .13 % .43 % .81 % 1.06 % .11 % 2.03 % 100.00 % December 31, 2014 Commercial Lending Commercial $ 96,922 $ 73 $ 24 $ 37 $ 134 $ 290 $ 74 $ 97,420 Commercial real estate 22,667 23 2 25 334 236 23,262 Equipment lease financing 7,672 11 1 12 2 7,686 Total commercial lending 127,261 107 27 37 171 626 310 128,368 Consumer Lending Home equity 31,474 70 32 102 1,112 1,989 34,677 Residential real estate (f) 9,900 163 68 742 973 706 $ 269 2,559 14,407 Credit card 4,528 28 20 33 81 3 4,612 Other consumer (g) 22,071 214 112 293 619 63 22,753 Total consumer lending 67,973 475 232 1,068 1,775 1,884 269 4,548 76,449 Total $ 195,234 $ 582 $ 259 $ 1,105 $ 1,946 $ 2,510 $ 269 $ 4,858 $ 204,817 Percentage of total loans 95.32 % .28 % .13 % .54 % .95 % 1.23 % .13 % 2.37 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. (b) Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to receive payment in full based on the original contractual terms), as we are currently accreting interest income over the expected life of the loans. (c) Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policies. Given that these loans are not accounted for at amortized cost, these loans have been excluded from the nonperforming loan population. (d) Net of unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums totaling $1.5 billion and $1.7 billion at September 30, 2015 and December 31, 2014, respectively. (e) Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. (f) Past due loan amounts at September 30, 2015 include government insured or guaranteed Residential real estate mortgages totaling $62 million for 30 to 59 days past due, $40 million for 60 to 89 days past due and $558 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Residential real estate mortgages totaling $68 million for 30 to 59 days past due, $43 million for 60 to 89 days past due and $719 million for 90 days or more past due. (g) Past due loan amounts at September 30, 2015 include government insured or guaranteed Other consumer loans totaling $119 million for 30 to 59 days past due, $80 million for 60 to 89 days past due and $224 million for 90 days or more past due. Past due loan amounts at December 31, 2014 include government insured or guaranteed Other consumer loans totaling $152 million for 30 to 59 days past due, $93 million for 60 to 89 days past due and $277 million for 90 days or more past due. |
Nonperforming Assets | Table 56: Nonperforming Assets September 30 December 31 Dollars in millions 2015 2014 Nonperforming loans Total commercial lending $ 520 $ 626 Total consumer lending (a)(b) 1,657 1,884 Total nonperforming loans (c) 2,177 2,510 OREO and foreclosed assets Other real estate owned (OREO) 293 351 Foreclosed and other assets 20 19 Total OREO and foreclosed assets 313 370 Total nonperforming assets $ 2,490 $ 2,880 Nonperforming loans to total loans 1.06 % 1.23 % Nonperforming assets to total loans, OREO and foreclosed assets 1.21 1.40 Nonperforming assets to total assets .69 .83 (a) Excludes most consumer loans and lines of credit, not secured by residential real estate, which are charged off after 120 to 180 days past due and are not placed on nonperforming status. (b) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.6 billion and $.8 billion at September 30, 2015 and December 31, 2014, which included $.3 billion and $.5 billion, respectively, of loans that are government insured/guaranteed. (c) Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. |
Commercial Lending Asset Quality Indicators | Table 57: Commercial Lending Asset Quality Indicators (a)(b) Criticized Commercial Loans Pass Special Total In millions Rated Mention (c) Substandard (d) Doubtful (e) Loans September 30, 2015 Commercial $ 92,334 $ 1,971 $ 2,962 $ 117 $ 97,384 Commercial real estate 25,224 203 478 27 25,932 Equipment lease financing 7,375 75 189 5 7,644 Purchased impaired loans 7 164 33 204 Total commercial lending $ 124,933 $ 2,256 $ 3,793 $ 182 $ 131,164 December 31, 2014 Commercial $ 92,884 $ 1,984 $ 2,424 $ 55 $ 97,347 Commercial real estate 22,066 285 639 35 23,025 Equipment lease financing 7,518 73 93 2 7,686 Purchased impaired loans 4 280 26 310 Total commercial lending $ 122,468 $ 2,346 $ 3,436 $ 118 $ 128,368 (a) Based upon PDs and LGDs. We apply a split rating classification to certain loans meeting threshold criteria. By assigning a split classification, a loan's exposure amount may be split into more than one classification category in the above table. (b) Loans are included above based on the Regulatory Classification definitions of "Pass", "Special Mention", "Substandard" and "Doubtful". (c) Special Mention rated loans have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects at some future date. These loans do not expose us to sufficient risk to warrant a more adverse classification at this time. (d) Substandard rated loans have a well-defined weakness or weaknesses that jeopardize the collection or liquidation of debt. They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. (e) Doubtful rated loans possess all the inherent weaknesses of a Substandard loan with the additional characteristics that the weakness makes collection or liquidation in full improbable due to existing facts, conditions, and values. |
Home Equity and Residential Real Estate Balances | Table 58: Home Equity and Residential Real Estate Balances September 30 December 31 In millions 2015 2014 Home equity and residential real estate loans - excluding purchased impaired loans (a) $ 42,582 $ 43,348 Home equity and residential real estate loans - purchased impaired loans (b) 3,853 4,541 Government insured or guaranteed residential real estate mortgages (a) 953 1,188 Difference between outstanding balance and recorded investment in purchased impaired loans (c) 110 7 Total home equity and residential real estate loans (a) $ 47,498 $ 49,084 (a) Represents recorded investment. (b) Represents outstanding balance. (c) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. |
Home Equity and Residential Real Estate Asset Quality Indicators | Table 59: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) Home Equity Residential Real Estate September 30, 2015 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (c) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 300 $ 1,050 $ 315 $ 1,665 Less than or equal to 660 (d) (e) 44 208 72 324 Missing FICO 1 7 5 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 703 1,892 607 3,202 Less than or equal to 660 (d) (e) 98 317 113 528 Missing FICO 2 6 6 14 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 780 1,569 660 3,009 Less than or equal to 660 101 228 96 425 Missing FICO 1 3 8 12 Less than 90% and updated FICO scores: Greater than 660 14,069 7,650 8,770 30,489 Less than or equal to 660 1,276 899 576 2,751 Missing FICO 32 17 101 150 Total home equity and residential real estate loans $ 17,407 $ 13,846 $ 11,329 $ 42,582 Home Equity Residential Real Estate December 31, 2014 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (c) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 333 $ 1,399 $ 360 $ 2,092 Less than or equal to 660 (d) (e) 57 273 92 422 Missing FICO 1 9 8 18 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 839 2,190 772 3,801 Less than or equal to 660 (d) (e) 118 383 153 654 Missing FICO 1 5 12 18 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 891 1,703 755 3,349 Less than or equal to 660 103 271 118 492 Missing FICO 2 3 5 10 Less than 90% and updated FICO scores: Greater than 660 13,878 7,874 7,703 29,455 Less than or equal to 660 1,319 995 573 2,887 Missing FICO 27 14 109 150 Total home equity and residential real estate loans $ 17,569 $ 15,119 $ 10,660 $ 43,348 (a) Excludes purchased impaired loans of approximately $4.0 billion and $4.5 billion in recorded investment, certain government insured or guaranteed residential real estate mortgages of approximately $1.0 billion and $1.2 billion, and loans held for sale at September 30, 2015 and December 31, 2014, respectively. See the Home Equity and Residential Real Estate Asset Quality Indicators - Purchased Impaired Loans table below for additional information on purchased impaired loans. (b) Amounts shown represent recorded investment. (c) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. We generally utilize origination lien balances provided by a third-party, where applicable, which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon lien balances held by others, and as such, are necessarily imprecise and subject to change as we enhance our methodology. (d) Higher risk loans are defined as loans with both an updated FICO score of less than or equal to 660 and an updated LTV greater than or equal to 100%. (e) The following states had the highest percentage of higher risk loans at September 30, 2015: New Jersey 15%, Pennsylvania 13%, Ohio 11%, Illinois 11%, Florida 7%, Maryland 7% and Michigan 5%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 31% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2014: New Jersey 14%, Illinois 12%, Pennsylvania 12%, Ohio 12%, Florida 8%, Maryland 6%, Michigan 5%, and North Carolina 4%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 28% of the higher risk loans. Table 60: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) Home Equity (b) (c) Residential Real Estate (b) (c) September 30, 2015 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (d) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 8 $ 195 $ 182 $ 385 Less than or equal to 660 8 92 89 189 Missing FICO 7 6 13 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 12 355 201 568 Less than or equal to 660 10 158 131 299 Missing FICO 9 7 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 9 170 137 316 Less than or equal to 660 7 82 81 170 Missing FICO 4 3 7 Less than 90% and updated FICO scores: Greater than 660 110 337 649 1,096 Less than or equal to 660 94 179 461 734 Missing FICO 1 12 28 41 Missing LTV and updated FICO scores: Greater than 660 1 10 11 Less than or equal to 660 3 5 8 Total home equity and residential real estate loans $ 263 $ 1,600 $ 1,990 $ 3,853 Home Equity (b) (c ) Residential Real Estate (b) (c) December 31, 2014 - in millions 1st Liens 2nd Liens Total Current estimated LTV ratios (d) Greater than or equal to 125% and updated FICO scores: Greater than 660 $ 8 $ 243 $ 276 $ 527 Less than or equal to 660 9 125 144 278 Missing FICO 8 6 14 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 15 426 272 713 Less than or equal to 660 12 194 200 406 Missing FICO 11 5 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 12 207 186 405 Less than or equal to 660 9 93 123 225 Missing FICO 5 3 8 Less than 90% and updated FICO scores: Greater than 660 102 339 626 1,067 Less than or equal to 660 109 200 515 824 Missing FICO 1 12 15 28 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 4 10 14 Missing FICO 1 1 Total home equity and residential real estate loans $ 282 $ 1,863 $ 2,396 $ 4,541 (a) Amounts shown represent outstanding balance. See Note 4 Purchased Loans for additional information. (b) For the estimate of cash flows utilized in our purchased impaired loan accounting, other assumptions and estimates are made, including amortization of first lien balances, pre-payment rates, etc., which are not reflected in this table. (c) The following states had the highest percentage of purchased impaired loans at September 30, 2015: California 16%, Florida 14%, Illinois 11%, Ohio 9%, North Carolina 7%, and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 38% of the purchased impaired portfolio. The following states had the highest percentage of purchased impaired loans at December 31, 2014: California 17%, Florida 15%, Illinois 11%, Ohio 8%, North Carolina 7% and Michigan 5%. The remainder of the states had lower than a 4% concentration of purchased impaired loans individually, and collectively they represent approximately 37% of the purchased impaired portfolio. (d) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions). Updated LTV is estimated using modeled property values. These ratios are updated at least semi-annually. The related estimates and inputs are based upon an approach that uses a combination of third-party automated valuation models (AVMs), broker price opinions (BPOs), HPI indices, property location, internal and external balance information, origination data and management assumptions. We generally utilize origination lien balances provided by a third-party, where applicable, which do not include an amortization assumption when calculating updated LTV. Accordingly, the results of these calculations do not represent actual appraised loan level collateral or updated LTV based upon lien balances held by others, and as such, are necessarily imprecise and subject to change as we enhance our methodology. |
Credit Card and Other Consumer Loan Classes Asset Quality Indicators | Table 61: Credit Card and Other Consumer Loan Classes Asset Quality Indicators Credit Card (a) Other Consumer (b) % of Total Loans % of Total Loans Using FICO Using FICO Dollars in millions Amount Credit Metric Amount Credit Metric September 30, 2015 FICO score greater than 719 $ 2,729 59 % $ 9,396 65 % 650 to 719 1,295 28 3,501 24 620 to 649 197 4 509 4 Less than 620 211 5 580 4 No FICO score available or required (c) 168 4 423 3 Total loans using FICO credit metric 4,600 100 % 14,409 100 % Consumer loans using other internal credit metrics (b) 7,312 Total loan balance $ 4,600 $ 21,721 Weighted-average updated FICO score (d) 733 745 December 31, 2014 FICO score greater than 719 $ 2,717 59 % $ 9,156 64 % 650 to 719 1,288 28 3,459 24 620 to 649 203 4 528 4 Less than 620 239 5 619 4 No FICO score available or required (c) 165 4 557 4 Total loans using FICO credit metric 4,612 100 % 14,319 100 % Consumer loans using other internal credit metrics (b) 8,434 Total loan balance $ 4,612 $ 22,753 Weighted-average updated FICO score (d) 732 744 (a) At September 30, 2015, we had $31 million of credit card loans that are higher risk (i.e., loans with both updated FICO scores less than 660 and in late stage (90+ days) delinquency status). The majority of the September 30, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, New Jersey 8%, Florida 7%, Illinois 7%, Indiana 5%, Maryland 5% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. At December 31, 2014, we had $35 million of credit card loans that are higher risk. The majority of the December 31, 2014 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 16%, Michigan 9%, Illinois 7%, New Jersey 7%, Indiana 6%, Florida 6% and North Carolina 4%. All other states had less than 4% individually and make up the remainder of the balance. (b) Other consumer loans for which updated FICO scores are used as an asset quality indicator include non-government guaranteed or insured education loans, automobile loans and other secured and unsecured lines and loans. Other consumer loans for which other internal credit metrics are used as an asset quality indicator include primarily government guaranteed or insured education loans, as well as consumer loans to high net worth individuals. Other internal credit metrics may include delinquency status, geography or other factors. (c) Credit card loans and other consumer loans with no FICO score available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name, and/or cards secured by collateral. Management proactively assesses the risk and size of this loan portfolio and, when necessary, takes actions to mitigate the credit risk. (d) Weighted-average updated FICO score excludes accounts with no FICO score available or required. |
Summary of Troubled Debt Restructurings | Table 62: Summary of Troubled Debt Restructurings September 30 December 31 In millions 2015 2014 Total consumer lending $ 1,948 $ 2,041 Total commercial lending 420 542 Total TDRs $ 2,368 $ 2,583 Nonperforming $ 1,171 $ 1,370 Accruing (a) 1,085 1,083 Credit card 112 130 Total TDRs $ 2,368 $ 2,583 (a) Accruing TDR loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans. Loans where borrowers have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC and loans to borrowers not currently obligated to make both principal and interest payments under the restructured terms are not returned to accrual status. |
Financial Impact and TDRs by Concession Type | Table 63: Financial Impact and TDRs by Concession Type (a) Pre-TDR Post-TDR Recorded Investment (c) During the three months ended September 30, 2015 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness Reduction Other Total Commercial lending Commercial 33 $ 63 $ 9 $ 43 $ 52 Commercial real estate 6 17 6 4 10 Total commercial lending 39 80 15 47 62 Consumer lending Home equity 788 42 $ 27 13 40 Residential real estate 329 35 21 13 34 Credit card 1,651 14 14 14 Other consumer 246 4 2 2 Total consumer lending 3,014 95 62 28 90 Total TDRs 3,053 $ 175 $ 15 $ 62 $ 75 $ 152 During the three months ended September 30, 2014 Dollars in millions Commercial lending Commercial 35 $ 39 $ 2 $ 8 $ 14 $ 24 Commercial real estate 19 63 2 1 54 57 Total commercial lending (d) 54 102 4 9 68 81 Consumer lending Home equity 942 66 12 52 64 Residential real estate 159 18 8 8 16 Credit card 1,860 15 15 15 Other consumer 307 5 4 4 Total consumer lending 3,268 104 35 64 99 Total TDRs 3,322 $ 206 $ 4 $ 44 $ 132 $ 180 Table 63: Financial Impact and TDRs by Concession Type (Continued) (a) Pre-TDR Post-TDR Recorded Investment (c) During the nine months ended September 30, 2015 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness Reduction Other Total Commercial lending Commercial 90 $ 154 $ 14 $ 3 $ 112 $ 129 Commercial real estate 23 31 6 1 8 15 Equipment lease financing 1 - - Total commercial lending 114 185 20 4 120 144 Consumer lending Home equity 2,318 144 77 60 137 Residential real estate 477 55 32 23 55 Credit card 4,855 40 39 39 Other consumer 750 11 2 6 8 Total consumer lending 8,400 250 150 89 239 Total TDRs 8,514 $ 435 $ 20 $ 154 $ 209 $ 383 During the nine months ended September 30, 2014 Dollars in millions Commercial lending Commercial 98 $ 128 $ 5 $ 12 $ 92 $ 109 Commercial real estate 65 144 21 5 97 123 Total commercial lending (d) 163 272 26 17 189 232 Consumer lending Home equity 2,334 158 41 108 149 Residential real estate 439 58 21 35 56 Credit card 5,226 43 41 41 Other consumer 794 13 10 10 Total consumer lending 8,793 272 103 153 256 Total TDRs 8,956 $ 544 $ 26 $ 120 $ 342 $ 488 (a) Impact of partial charge-offs at TDR date are included in this table. (b) Represents the recorded investment of the loans as of the quarter end immediately preceding TDR designation, and excludes immaterial amounts of accrued interest receivable. (c) Represents the recorded investment of the TDRs as of the quarter end and immediately following the TDR designation, and excludes immaterial amounts of accrued interest receivable. (d) During the three months ended September 30, 2015 and 2014, and nine months ended September 30, 2015, there were no loans classified as TDRs in the Equipment lease financing loan class. |
TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted | Table 64: TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted During the three months ended September 30, 2015 Dollars in millions Number of Contracts Recorded Investment Commercial lending Commercial 7 $ 4 Commercial real estate 3 1 Total commercial lending (a) 10 5 Consumer lending Home equity 170 8 Residential real estate 33 5 Credit card 1,337 11 Other consumer 50 - Total consumer lending 1,590 24 Total TDRs 1,600 $ 29 During the three months ended September 30, 2014 Dollars in millions Number of Contracts Recorded Investment Commercial lending Commercial 1 $ 1 Commercial real estate 13 14 Total commercial lending (a) 14 15 Consumer lending Home equity 99 4 Residential real estate 52 6 Credit card 1,665 14 Other consumer 31 Total consumer lending 1,847 24 Total TDRs 1,861 $ 39 Table 64: TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted (Continued) During the nine months ended September 30, 2015 Dollars in millions Number of Contracts Recorded Investment Commercial lending Commercial 20 $ 8 Commercial real estate 11 10 Equipment lease financing 1 - Total commercial lending 32 18 Consumer lending Home equity 338 17 Residential real estate 104 15 Credit card 2,197 18 Other consumer 125 1 Total consumer lending 2,764 51 Total TDRs 2,796 $ 69 During the nine months ended September 30, 2014 Dollars in millions Number of Contracts Recorded Investment Commercial lending Commercial 34 $ 23 Commercial real estate 34 45 Total commercial lending (a) 68 68 Consumer lending Home equity 315 17 Residential real estate 128 20 Credit card 2,393 19 Other consumer 110 1 Total consumer lending 2,946 57 Total TDRs 3,014 $ 125 (a) During the three months ended September 30, 2015 and the three and nine months ended September 30, 2014, there were no loans classified as TDRs in the Equipment lease financing loan class that have subsequently defaulted. |
Impaired Loans | Table 65: Impaired Loans Unpaid Average Principal Recorded Associated Recorded In millions Balance Investment (a) Allowance (b) Investment (c) September 30, 2015 Impaired loans with an associated allowance Commercial $ 379 $ 280 $ 73 $ 299 Commercial real estate 314 161 36 213 Home equity 999 967 188 979 Residential real estate 442 333 49 382 Credit card 112 112 25 121 Other consumer 31 27 1 33 Total impaired loans with an associated allowance $ 2,277 $ 1,880 $ 372 $ 2,027 Impaired loans without an associated allowance Commercial $ 166 $ 99 $ 79 Commercial real estate 219 171 171 Home equity 430 149 146 Residential real estate 369 352 334 Other consumer 24 8 8 Total impaired loans without an associated allowance $ 1,208 $ 779 $ 738 Total impaired loans $ 3,485 $ 2,659 $ 372 $ 2,765 December 31, 2014 Impaired loans with an associated allowance Commercial $ 432 $ 318 $ 74 $ 360 Commercial real estate 418 262 65 283 Home equity 1,021 984 215 986 Residential real estate 397 420 75 422 Credit card 130 130 32 147 Other consumer 64 47 2 51 Total impaired loans with an associated allowance $ 2,462 $ 2,161 $ 463 $ 2,249 Impaired loans without an associated allowance Commercial $ 106 $ 84 $ 133 Commercial real estate 249 187 276 Home equity 403 145 134 Residential real estate 344 315 365 Total impaired loans without an associated allowance $ 1,102 $ 731 $ 908 Total impaired loans $ 3,564 $ 2,892 $ 463 $ 3,157 (a) Recorded investment in a loan includes the unpaid principal balance plus accrued interest and net accounting adjustments, less any charge-offs. Recorded investment does not include any associated valuation allowance. (b) Associated allowance amounts include $.3 billion and $.4 billion for TDRs at September 30, 2015 and December 31, 2014, respectively. (c) Average recorded investment is for the nine months ended September 30, 2015 and the year ended December 31, 2014, respectively. |
Purchased Loans (Tables)
Purchased Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting for Acquired Loans Disclosure | |
Purchased Impaired Loans - Balances | Table 66: Purchased Impaired Loans - Balances September 30, 2015 December 31, 2014 In millions Outstanding Balance (a) Recorded Investment Carrying Value Outstanding Balance (a) Recorded Investment Carrying Value Commercial lending Commercial $ 112 $ 43 $ 29 $ 159 $ 74 $ 57 Commercial real estate 184 161 108 307 236 174 Total commercial lending 296 204 137 466 310 231 Consumer lending Consumer 1,864 1,753 1,468 2,145 1,989 1,661 Residential real estate 1,990 2,210 1,744 2,396 2,559 2,094 Total consumer lending 3,854 3,963 3,212 4,541 4,548 3,755 Total $ 4,150 $ 4,167 $ 3,349 $ 5,007 $ 4,858 $ 3,986 (a) Outstanding balance represents the balance on the loan servicing system for active loans. It is possible for the outstanding balance to be lower than the recorded investment for certain loans due to the use of pool accounting. |
Purchased Impaired Loans - Accretable Yield | Activity for the accretable yield during the first nine months of 2015 and 2014 follows: Table 67: Purchased Impaired Loans - Accretable Yield In millions 2015 2014 January 1 $ 1,558 $ 2,055 Accretion (including excess cash recoveries) (359) (449) Net reclassifications to accretable from non-accretable (a) 218 237 Disposals (66) (24) September 30 $ 1,351 $ 1,819 (a) Approximately 66% and 68% of the net reclassifications for the nine months ended September 30, 2015 and 2014, respectively, were driven by the consumer portfolio and were due to improvements of cash expected to be collected on loans in future periods. The remaining net reclassifications were predominantly due to future cash flow changes in the commercial portfolio. |
Allowances for Loan and Lease29
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Allowance For Loan And Lease Losses [Abstract] | |
Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | Table 68: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total September 30, 2015 Allowance for Loan and Lease Losses January 1 $ 1,571 $ 1,760 $ 3,331 Charge-offs (176) (413) (589) Recoveries 188 135 323 Net (charge-offs) / recoveries 12 (278) (266) Provision for credit losses 48 133 181 Net change in allowance for unfunded loan commitments and letters of credit (7) (7) Other (2) (2) September 30 $ 1,622 $ 1,615 $ 3,237 TDRs individually evaluated for impairment $ 39 $ 263 $ 302 Other loans individually evaluated for impairment 70 70 Loans collectively evaluated for impairment 1,446 601 2,047 Purchased impaired loans 67 751 818 September 30 $ 1,622 $ 1,615 $ 3,237 Loan Portfolio TDRs individually evaluated for impairment (a) $ 420 $ 1,948 $ 2,368 Other loans individually evaluated for impairment 291 291 Loans collectively evaluated for impairment (b) 130,249 66,993 197,242 Fair value option loans (c) 915 915 Purchased impaired loans 204 3,963 4,167 September 30 $ 131,164 $ 73,819 $ 204,983 Portfolio segment ALLL as a percentage of total ALLL 50 % 50 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.24 % 2.19 % 1.58 % September 30, 2014 Allowance for Loan and Lease Losses January 1 $ 1,547 $ 2,062 $ 3,609 Charge-offs (286) (500) (786) Recoveries 230 143 373 Net charge-offs (56) (357) (413) Provision for credit losses 89 132 221 Net change in allowance for unfunded loan commitments and letters of credit (9) (9) Other (2) (2) September 30 $ 1,569 $ 1,837 $ 3,406 TDRs individually evaluated for impairment $ 26 $ 382 $ 408 Other loans individually evaluated for impairment 98 98 Loans collectively evaluated for impairment 1,349 660 2,009 Purchased impaired loans 96 795 891 September 30 $ 1,569 $ 1,837 $ 3,406 Loan Portfolio TDRs individually evaluated for impairment (a) $ 551 $ 2,064 $ 2,615 Other loans individually evaluated for impairment 402 402 Loans collectively evaluated for impairment (b) 122,705 68,966 191,671 Fair value option loans (c) 1,017 1,017 Purchased impaired loans 405 4,762 5,167 September 30 $ 124,063 $ 76,809 $ 200,872 Portfolio segment ALLL as a percentage of total ALLL 46 % 54 % 100 % Ratio of the allowance for loan and lease losses to total loans 1.26 % 2.39 % 1.70 % (a) TDRs individually evaluated for impairment exclude TDRs that were subsequently accounted for as held for sale loans, but continue to be disclosed as TDRs. (b) Includes $157 million of loans collectively evaluated for impairment based upon collateral values and written down to the respective collateral value less costs to sell at September 30, 2015. Accordingly, there is no allowance recorded for these loans. The comparative amount as of September 30, 2014 was $221 million. (c) Loans accounted for under the fair value option are not evaluated for impairment as these loans are accounted for at fair value. Accordingly, there is no allowance recorded on these loans. |
Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit | Table 69: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit In millions 2015 2014 January 1 $ 259 $ 242 Net change in allowance for unfunded loan commitments and letters of credit 7 9 September 30 $ 266 $ 251 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities Summary | NOTE 6 INVESTMENT SECURITIES Table 70: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value September 30, 2015 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 8,113 $ 197 $ (19) $ 8,291 Residential mortgage-backed Agency 24,141 402 (34) 24,509 Non-agency 4,151 269 (81) 4,339 Commercial mortgage-backed Agency 1,942 25 (4) 1,963 Non-agency 4,709 59 (11) 4,757 Asset-backed 5,195 72 (33) 5,234 State and municipal 1,999 69 (7) 2,061 Other debt 1,896 43 (6) 1,933 Total debt securities 52,146 1,136 (195) 53,087 Corporate stocks and other 576 1 (1) 576 Total securities available for sale $ 52,722 $ 1,137 $ (196) $ 53,663 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 255 $ 47 $ 302 Residential mortgage-backed Agency 9,044 155 $ (23) 9,176 Non-agency 241 11 252 Commercial mortgage-backed Agency 1,135 57 1,192 Non-agency 768 19 787 Asset-backed 726 - (10) 716 State and municipal 1,973 106 2,079 Other debt 261 1 (1) 261 Total securities held to maturity $ 14,403 $ 396 $ (34) $ 14,765 December 31, 2014 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 5,237 $ 186 $ (1) $ 5,422 Residential mortgage-backed Agency 17,646 438 (41) 18,043 Non-agency 4,723 318 (99) 4,942 Commercial mortgage-backed Agency 2,178 23 (14) 2,187 Non-agency 4,085 88 (11) 4,162 Asset-backed 5,141 78 (32) 5,187 State and municipal 1,953 88 (3) 2,038 Other debt 1,776 43 (6) 1,813 Total debt securities 42,739 1,262 (207) 43,794 Corporate stocks and other 442 (1) 441 Total securities available for sale $ 43,181 $ 1,262 $ (208) $ 44,235 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 248 $ 44 $ 292 Residential mortgage-backed Agency 5,736 166 $ (10) 5,892 Non-agency 270 13 283 Commercial mortgage-backed Agency 1,200 53 1,253 Non-agency 1,010 19 1,029 Asset-backed 759 2 (8) 753 State and municipal 2,042 111 2,153 Other debt 323 6 329 Total securities held to maturity $ 11,588 $ 414 $ (18) $ 11,984 (a) Held to maturity securities transferred from available for sale are included in held to maturity at fair value at the time of transfer. The amortized cost of held to maturity securities included net unrealized gains of $104 million and $125 million at September 30, 2015 and December 31, 2014, respectively, related to securities transferred, which are offset in Accumulated Other Comprehensive Income, net of tax. |
Gross Unrealized Loss and Fair Value of Securities Available for Sale | Table 71: Gross Unrealized Loss and Fair Value of Securities Available for Sale Unrealized loss position less Unrealized loss position 12 In millions than 12 months months or more Total Unrealized Fair Unrealized Fair Unrealized Fair Loss Value Loss Value Loss Value September 30, 2015 Debt securities U.S. Treasury and government agencies $ (19) $ 3,402 $ (19) $ 3,402 Residential mortgage-backed Agency (17) 3,516 $ (17) $ 963 (34) 4,479 Non-agency (4) 290 (77) 1,412 (81) 1,702 Commercial mortgage-backed Agency (1) 230 (3) 143 (4) 373 Non-agency (10) 1,735 (1) 337 (11) 2,072 Asset-backed (17) 2,088 (16) 464 (33) 2,552 State and municipal (5) 363 (2) 43 (7) 406 Other debt (3) 210 (3) 134 (6) 344 Total debt securities (76) 11,834 (119) 3,496 (195) 15,330 Corporate stocks and other (1) 16 (1) 16 Total $ (76) $ 11,834 $ (120) $ 3,512 $ (196) $ 15,346 December 31, 2014 Debt securities U.S. Treasury and government agencies $ (1) $ 1,426 $ (1) $ 1,426 Residential mortgage-backed Agency (4) 644 $ (37) $ 1,963 (41) 2,607 Non-agency (5) 276 (94) 1,487 (99) 1,763 Commercial mortgage-backed Agency (2) 681 (12) 322 (14) 1,003 Non-agency (4) 928 (7) 335 (11) 1,263 Asset-backed (4) 913 (28) 1,133 (32) 2,046 State and municipal (a) 41 (3) 77 (3) 118 Other debt (2) 314 (4) 186 (6) 500 Total debt securities (22) 5,223 (185) 5,503 (207) 10,726 Corporate stocks and other (1) 15 (1) 15 Total $ (22) $ 5,223 $ (186) $ 5,518 $ (208) $ 10,741 (a) The unrealized loss on these securities was less than $.5 million. |
Gains (Losses) on Sales Of Securities Available for Sale | Table 72: Gains (Losses) on Sales of Securities Available for Sale Gross Gross Net Tax In millions Proceeds Gains Losses Gains Expense Nine months ended September 30 2015 $ 3,445 $ 54 $ (13) $ 41 $ 14 2014 $ 3,606 $ 29 $ (25) $ 4 $ 1 |
Contractual Maturity of Debt Securities | Table 73: Contractual Maturity of Debt Securities September 30, 2015 After 1 Year After 5 Years After 10 Dollars in millions 1 Year or Less through 5 Years through 10 Years Years Total Securities Available for Sale U.S. Treasury and government agencies $ 509 $ 1,607 $ 5,469 $ 528 $ 8,113 Residential mortgage-backed Agency 109 981 23,051 24,141 Non-agency 4 - 4,147 4,151 Commercial mortgage-backed Agency 86 114 83 1,659 1,942 Non-agency 50 28 8 4,623 4,709 Asset-backed 14 1,257 1,826 2,098 5,195 State and municipal 3 122 328 1,546 1,999 Other debt 142 1,230 358 166 1,896 Total debt securities available for sale $ 804 $ 4,471 $ 9,053 $ 37,818 $ 52,146 Fair value $ 810 $ 4,550 $ 9,185 $ 38,542 $ 53,087 Weighted-average yield, GAAP basis 2.82 % 2.25 % 2.36 % 2.95 % 2.78 % Securities Held to Maturity U.S. Treasury and government agencies $ 255 $ 255 Residential mortgage-backed Agency $ 199 8,845 9,044 Non-agency 241 241 Commercial mortgage-backed Agency $ 935 143 57 1,135 Non-agency 6 762 768 Asset-backed 5 591 130 726 State and municipal 56 888 1,029 1,973 Other debt 261 261 Total debt securities held to maturity $ 1,002 $ 2,082 $ 11,319 $ 14,403 Fair value $ 1,045 $ 2,147 $ 11,573 $ 14,765 Weighted-average yield, GAAP basis 3.50 % 3.09 % 3.50 % 3.44 % |
Fair Value of Securities Pledged and Accepted as Collateral | Table 74: Fair Value of Securities Pledged and Accepted as Collateral September 30 December 31 In millions 2015 2014 Pledged to others $ 10,186 $ 10,874 Accepted from others: Permitted by contract or custom to sell or repledge 1,167 1,658 Permitted amount repledged to others 1,008 1,488 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value [Abstract] | |
Fair Value Measurements - Recurring Basis Summary | Table 75: Fair Value Measurements - Recurring Basis Summary September 30, 2015 December 31, 2014 Total Total In millions Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Assets Securities available for sale U.S. Treasury and government agencies $ 7,674 $ 617 $ 8,291 $ 4,795 $ 627 $ 5,422 Residential mortgage-backed Agency 24,509 24,509 18,043 18,043 Non-agency 124 $ 4,215 4,339 144 $ 4,798 4,942 Commercial mortgage-backed Agency 1,963 1,963 2,187 2,187 Non-agency 4,757 4,757 4,162 4,162 Asset-backed 4,723 511 5,234 4,624 563 5,187 State and municipal 2,045 16 2,061 1,904 134 2,038 Other debt 1,903 30 1,933 1,783 30 1,813 Total debt securities 7,674 40,641 4,772 53,087 4,795 33,474 5,525 43,794 Corporate stocks and other 513 63 576 426 15 441 Total securities available for sale 8,187 40,704 4,772 53,663 5,221 33,489 5,525 44,235 Financial derivatives (a) (b) Interest rate contracts 4 5,823 43 5,870 4 4,874 40 4,918 Other contracts 360 2 362 314 2 316 Total financial derivatives 4 6,183 45 6,232 4 5,188 42 5,234 Residential mortgage loans held for sale (c) 1,081 5 1,086 1,255 6 1,261 Trading securities (d) Debt (e) 915 974 3 1,892 1,340 960 32 2,332 Equity 9 9 21 21 Total trading securities 924 974 3 1,901 1,361 960 32 2,353 Trading loans (a) 37 37 30 7 37 Residential mortgage servicing rights 962 962 845 845 Commercial mortgage servicing rights 505 505 506 506 Commercial mortgage loans held for sale (c) 802 802 893 893 Equity investments (a) Direct investments 1,215 1,215 1,152 1,152 Indirect investments (f) 406 406 469 469 Total equity investments 1,621 1,621 1,621 1,621 Customer resale agreements (g) 139 139 155 155 Loans (h) 565 350 915 637 397 1,034 Other assets (a) BlackRock Series C Preferred Stock (i) 312 312 375 375 Other 238 192 7 437 190 226 8 424 Total other assets 238 192 319 749 190 226 383 799 Total assets $ 9,353 $ 49,875 $ 9,384 $ 68,612 $ 6,776 $ 41,940 $ 10,257 $ 58,973 Liabilities Financial derivatives (b) (j) Interest rate contracts $ 4 $ 3,892 $ 9 $ 3,905 $ 3,260 $ 12 $ 3,272 BlackRock LTIP 312 312 375 375 Other contracts 251 122 373 241 139 380 Total financial derivatives 4 4,143 443 4,590 3,501 526 4,027 Trading securities sold short (k) Debt 1,035 7 1,042 $ 1,479 11 1,490 Total trading securities sold short 1,035 7 1,042 1,479 11 1,490 Other borrowed funds (k) 74 62 136 92 181 273 Other liabilities (j) 5 10 15 9 9 Total liabilities $ 1,039 $ 4,229 $ 515 $ 5,783 $ 1,479 $ 3,604 $ 716 $ 5,799 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Amounts at September 30, 2015 and December 31, 2014, are presented gross and are not reduced by the impact of legally enforceable master netting agreements that allow PNC to net positive and negative positions and cash collateral held or placed with the same counterparty. At September 30, 2015 and December 31, 2014, the net asset amounts were $3.6 billion and $2.6 billion, respectively, and the net liability amounts were $1.9 billion and $1.4 billion, respectively. (c) Included in Loans held for sale on our Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. (d) Fair value includes net unrealized gains of $43 million at September 30, 2015 compared with net unrealized gains of $54 million at December 31, 2014. (e) Approximately 33% of these securities are residential mortgage-backed securities and 48% are U.S. Treasury and government agencies securities at September 30, 2015. Comparable amounts at December 31, 2014 were 34% and 57%, respectively. (f) The indirect equity funds are not redeemable, but PNC receives distributions over the life of the partnership from liquidation of the underlying investments by the investee, which we expect to occur over the next twelve years. The amount of unfunded contractual commitments as of September 30, 2015 related to indirect equity investments was $113 million and related to direct equity investments was $26 million, respectively. Comparable amounts at December 31, 2014 were $112 million and $28 million, respectively. (g) Included in Federal funds sold and resale agreements on our Consolidated Balance Sheet. PNC has elected the fair value option for these items. (h) Included in Loans on our Consolidated Balance Sheet. (i) PNC has elected the fair value option for these shares. (j) Included in Other liabilities on our Consolidated Balance Sheet. (k) Included in Other borrowed funds on our Consolidated Balance Sheet. |
Reconciliation of Level 3 Assets and Liabilities | Reconciliations of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the three and nine months ended September 30, 2015 and 2014 follow: Table 76: Reconciliation of Level 3 Assets and Liabilities Three Months Ended September 30, 2015 Unrealized gains (losses) Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only June 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2015 2015 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,424 $ 30 $ (9) $ (230) $ 4,215 Asset-backed 531 5 2 (27) 511 (1) State and municipal 16 16 Other debt 33 (1) $ 8 $ (5) (5) 30 Total securities available for sale 5,004 35 (8) 8 (5) (262) 4,772 (1) Financial derivatives 36 39 (30) 45 48 Residential mortgage loans held for sale 10 1 4 (1) $ 2 $ (11) 5 Trading securities - Debt 3 3 Residential mortgage servicing rights 1,015 (137) 111 23 (50) 962 (136) Commercial mortgage servicing rights 543 (44) 15 14 (23) 505 (44) Commercial mortgage loans held for sale 757 19 874 (848) 802 7 Equity investments Direct investments 1,191 36 87 (99) 1,215 39 Indirect investments 425 27 3 (49) 406 27 Total equity investments 1,616 63 90 (148) 1,621 66 Loans 365 4 29 (13) (24) 10 (21) 350 1 Other assets BlackRock Series C Preferred Stock 363 (51) 312 (51) Other 7 7 Total other assets 370 (51) 319 (51) Total assets $ 9,719 $ (71) (e) $ (8) $ 257 $ (167) $ 911 $ (1,237) $ 12 $ (32) $ 9,384 $ (110) (f) Liabilities Financial derivatives (d) $ 498 $ (54) $ (1) $ 443 $ (57) Other borrowed funds 165 1 $ 23 (127) 62 Other liabilities 10 10 Total liabilities $ 673 $ (53) (e) $ 23 $ (128) $ 515 $ (57) (f) Three Months Ended September 30, 2014 Unrealized gains (losses) Total realized / unrealized on assets and gains or losses for the period (a) liabilities held on Included Consolidated Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Balance Sheet Only June 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2014 2014 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 5,107 $ 31 $ (5) $ (222) $ 4,911 $ (1) Asset-backed 619 3 9 (39) 592 State and municipal 345 1 346 Other debt 31 31 Total securities available for sale 6,102 34 5 (261) 5,880 (1) Financial derivatives 41 46 $ 1 (59) 29 30 Residential mortgage loans held for sale 4 3 $ 5 $ (8) 4 Trading securities - Debt 33 1 34 Residential mortgage servicing rights 967 (4) 28 $ 23 (36) 978 (3) Commercial mortgage servicing rights 515 5 16 19 (23) 532 5 Commercial mortgage loans held for sale 521 6 349 (9) 867 6 Equity investments Direct investments 1,219 48 93 $ (125) 1,235 38 Indirect investments 574 28 7 (56) 553 27 Total equity investments 1,793 76 100 (181) 1,788 65 Loans (g) 373 22 29 (4) (22) 7 (22) 383 20 Other assets BlackRock Series C Preferred Stock 335 10 345 10 Other 8 8 Total other assets 343 10 353 10 Total assets $ 10,692 $ 196 (e) $ 5 $ 177 $ (185) $ 391 $ (410) $ 12 $ (30) $ 10,848 $ 132 (f) Liabilities Financial derivatives (d) $ 454 $ 75 $ (30) $ 499 $ 51 Other borrowed funds 183 3 $ 10 (16) 180 Total liabilities $ 637 $ 78 (e) $ 10 $ (46) $ 679 $ 51 (f) Nine Months Ended September 30, 2015 Unrealized Total realized / unrealized gains (losses) gains or losses for the period (a) on assets and Included liabilities held on Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value Consolidated Only Dec. 31, Included in comprehensive into out of Sept. 30, Balance Sheet In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2015 at Sept. 30, 2015 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,798 $ 85 $ (31) $ (637) $ 4,215 $ (1) Commercial mortgage backed non-agency 8 (8) Asset-backed 563 16 11 (79) 511 (1) State and municipal 134 (1) (117) 16 Other debt 30 1 (1) $ 11 $ (5) (6) 30 Total securities available for sale 5,525 110 (22) 11 (5) (847) 4,772 (2) Financial derivatives 42 126 1 (124) 45 115 Residential mortgage loans held for sale 6 1 21 (3) (1) $ 4 $ (23) 5 1 Trading securities - Debt 32 (29) 3 Trading loans 7 (7) Residential mortgage servicing rights 845 (69) 261 61 (136) 962 (69) Commercial mortgage servicing rights 506 (26) 43 48 (66) 505 (26) Commercial mortgage loans held for sale 893 63 (56) 2,965 (3,063) 802 3 Equity investments Direct investments 1,152 92 225 (254) 1,215 79 Indirect investments 469 62 11 (136) 406 60 Total equity investments 1,621 154 236 (390) 1,621 139 Loans 397 19 84 (21) (96) 21 (54) 350 10 Other assets BlackRock Series C Preferred Stock 375 (63) 312 (63) Other 8 (1) 7 Total other assets 383 (63) (1) 319 (63) Total assets $ 10,257 $ 315 (e) $ (22) $ 657 $ (482) $ 3,074 $ (4,363) $ 25 $ (77) $ 9,384 $ 108 (f) Liabilities Financial derivatives (d) $ 526 $ (28) $ 1 $ (56) $ 443 $ (69) Other borrowed funds 181 4 $ 69 (192) 62 Other liabilities 9 1 10 Total liabilities $ 716 $ (23) (e) $ 1 $ 69 $ (248) $ 515 $ (69) (f) Nine Months Ended September 30, 2014 Unrealized Total realized / unrealized gains (losses) gains or losses for the period (a) on assets and Included liabilities held Level 3 Instruments Fair Value in Other Transfers Transfers Fair Value on Consolidated Only Dec. 31, Included in comprehensive into out of Sept. 30, Balance Sheet In millions 2013 Earnings income Purchases Sales Issuances Settlements Level 3 (b) Level 3 (b) 2014 at Sept. 30, 2014 (c) Assets Securities available for sale Residential mortgage- backed non-agency $ 5,358 $ 105 $ 80 $ (632) $ 4,911 $ (4) Asset-backed 641 11 28 (88) 592 State and municipal 333 (2) 15 346 Other debt 38 1 $ 1 $ (7) (2) 31 Total securities available for sale 6,370 115 123 1 (7) (722) 5,880 (4) Financial derivatives 36 165 2 (174) 29 105 Residential mortgage loans held for sale 8 1 11 (3) (1) $ 9 $ (21) 4 1 Trading securities - Debt 32 2 34 2 Residential mortgage servicing rights 1,087 (120) 45 $ 66 (100) 978 (115) Commercial mortgage servicing rights (20) 32 36 484 (g) 532 (20) Commercial mortgage loans held for sale 586 13 349 (81) 867 13 Equity investments Direct investments 1,069 120 261 (215) 1,235 101 Indirect investments 595 61 19 (121) (1) 553 59 Total equity investments 1,664 181 280 (336) (1) 1,788 160 Loans (g) 527 41 85 (142) (69) 17 (76) 383 34 Other assets BlackRock Series C Preferred Stock 332 13 345 13 Other 8 8 Total other assets 340 13 353 13 Total assets $ 10,650 $ 391 (e) $ 123 $ 456 $ (488) $ 451 $ (664) $ 26 $ (97) $ 10,848 $ 189 (f) Liabilities Financial derivatives (d) $ 439 $ 145 $ 1 $ (86) $ 499 $ 9 Other borrowed funds 199 $ 29 (48) 180 Total liabilities $ 638 $ 145 (e) $ 1 $ 29 $ (134) $ 679 $ 9 (f) (a) Losses for assets are bracketed while losses for liabilities are not. (b) PNC's policy is to recognize transfers in and transfers out as of the end of the reporting period. (c) The amount of the total gains or losses for the period included in earnings that is attributable to the change in unrealized gains or losses related to those assets and liabilities held at the end of the reporting period. (d) Includes swaps entered into in connection with sales of certain Visa Class B common shares. (e) Net losses (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $18 million for the third quarter of 2015, while for the first nine months of 2015 there were $338 million of net gains (realized and unrealized) included in earnings. The comparative amounts included net gains (realized and unrealized) of $118 million for the third quarter of 2014 and net gains (realized and unrealized) of $246 million for the first nine months of 2014. These amounts also included amortization and accretion of $36 million for the third quarter of 2015 and $113 million for the first nine months of 2015. The comparative amounts were $37 million for the third quarter of 2014 and $122 million for the first nine months of 2014. The amortization and accretion amounts were included in Interest income on the Consolidated Income Statement and the remaining net gains/(losses) (realized and unrealized) were included in Noninterest income on the Consolidated Income Statement. (f) Net unrealized losses relating to those assets and liabilities held at the end of the reporting period were $53 million for the third quarter of 2015, while for the first nine months of 2015 there were $177 million of net unrealized gains. The comparative amounts included net unrealized gains of $81 million for the third quarter of 2014 and net unrealized gains of $180 million for the first nine months of 2014. These amounts were included in Noninterest income on the Consolidated Income Statement. (g) Settlements relating to commercial MSRs include $552 million, which represents the fair value as of January 1, 2014 as a result of an irrevocable election to measure all classes of commercial MSRs at fair value. Refer to Note 8 Goodwill and Other Intangible Assets in our 2014 Form 10-K for additional information on this election. |
Fair Value Measurements - Recurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 77: Fair Value Measurements - Recurring Quantitative Information September 30, 2015 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,215 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.0%) (a) using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.4%) (a) pricing model (a) Loss severity 10.0%-98.5% (53.2%) (a) Spread over the benchmark curve (b) 252bps weighted average (a) Asset-backed securities 511 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.7% (6.5%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (6.8%) (a) pricing model (a) Loss severity 15.0%-100% (76.5%) (a) Spread over the benchmark curve (b) 333bps weighted average (a) Residential mortgage servicing rights 962 Discounted cash flow Constant prepayment rate (CPR) 0.3%-34.8% (11.8%) Spread over the benchmark curve (b) 555bps-1,851bps (932bps) Commercial mortgage servicing 505 Discounted cash flow Constant prepayment rate (CPR) 5.7%-29.1% (7.2%) rights Discount rate 1.8%-7.6% (7.4%) Commercial mortgage loans held 802 Discounted cash flow Spread over the benchmark curve (b) 62bps-3,595bps (468bps) for sale Estimated servicing cash flows 0.0%-3.8% (0.6%) Equity investments - Direct investments 1,215 Multiple of adjusted earnings Multiple of earnings 4.2x-15.0x (7.9x) Equity investments - Indirect (d) 406 Net asset value Net asset value Loans - Residential real estate 121 Consensus pricing (c) Cumulative default rate 2.0%-100% (85.5%) Loss severity 0.0%-100% (28.9%) Discount rate 4.9%-7.0% (5.2%) 118 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.5% weighted average Loans - Home equity 111 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (53.0%) BlackRock Series C Preferred Stock 312 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (312) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain Visa (117) Discounted cash flow Estimated conversion factor of Class B common shares Class B shares into Class A shares 164.3% (e) Estimated growth rate of Visa Class A share price 18.0% Other borrowed funds - non-agency securitization (51) Consensus pricing (c) Credit and Liquidity discount 0%-100.0% (10.0%) Insignificant Level 3 assets, net of liabilities (f) 71 Total Level 3 assets, net of liabilities (g) $ 8,869 December 31, 2014 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,798 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-28.9% (6.8%) (a) using a discounted cash flow Constant default rate (CDR) 0.0%-16.7% (5.6%) (a) pricing model (a) Loss severity 6.1%-100.0% (53.1%) (a) Spread over the benchmark curve (b) 249bps weighted average (a) Asset-backed securities 563 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.7% (5.9%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (7.6%) (a) pricing model (a) Loss severity 14.6%-100.0% (73.5%) (a) Spread over the benchmark curve (b) 352bps weighted average (a) State and municipal securities 132 Discounted cash flow Spread over the benchmark curve (b) 55bps-165bps (67bps) 2 Consensus pricing (c) Credit and Liquidity discount 0.0%-20.0% (14.9%) Other debt securities 30 Consensus pricing (c) Credit and Liquidity discount 7.0%-95.0% (88.6%) Trading securities - Debt 32 Consensus pricing (c) Credit and Liquidity discount 0.0%-15.0% (8.0%) Residential mortgage servicing rights 845 Discounted cash flow Constant prepayment rate (CPR) 3.8%-32.7% (11.2%) Spread over the benchmark curve (b) 889bps-1,888bps (1,036bps) Commercial mortgage servicing rights 506 Discounted cash flow Constant prepayment rate (CPR) 7.0%-16.8% (8.0%) Discount rate 2.5%-8.6% (6.6%) Commercial mortgage loans held for sale 893 Discounted cash flow Spread over the benchmark curve (b) 37bps-4,025bps (549bps) Estimated servicing cash flows 0.0%-2.0% (1.2%) Equity investments - Direct investments 1,152 Multiple of adjusted earnings Multiple of earnings 3.2x-13.9x (7.7x) Equity investments - Indirect (d) 469 Net asset value Net asset value Loans - Residential real estate 114 Consensus pricing (c) Cumulative default rate 2.0%-100.0% (90.5%) Loss severity 0.0%-100.0% (35.6%) Discount rate 5.4%-7.0% (6.4%) 154 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.4% weighted average Loans - Home equity 129 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (51.0%) BlackRock Series C Preferred Stock 375 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (375) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain (135) Discounted cash flow Estimated conversion factor of Visa Class B common shares Class B shares into Class A shares 41.1% Estimated growth rate of Visa Class A share price 14.8% Other borrowed funds - non-agency securitization (166) Consensus pricing (c) Credit and Liquidity discount 0.0%-99.0% (18.0%) Spread over the benchmark curve (b) 113bps Insignificant Level 3 assets, net of liabilities (f) 23 Total Level 3 assets, net of liabilities (g) $ 9,541 (a) Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2015 totaling $3,561 million and $478 million, respectively, were priced by a third-party vendor using a discounted cash flow pricing model that incorporates consensus pricing, where available. The comparable amounts as of December 31, 2014 were $4,081 million and $532 million, respectively. The significant unobservable inputs for these securities were provided by the third-party vendor and are disclosed in the table. Our procedures to validate the prices provided by the third-party vendor related to these securities are discussed further in the Fair Value Measurement section of Note 7 Fair Value in our 2014 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2015 of $654 million and $33 million, respectively, were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. The comparable amounts as of December 31, 2014 were $717 million and $31 million, respectively. (b) The assumed yield spread over the benchmark curve for each instrument is generally intended to incorporate non-interest-rate risks, such as credit and liquidity risks. (c) Consensus pricing refers to fair value estimates that are generally internally developed using information such as dealer quotes or other third-party provided valuations or comparable asset prices. (d) The range on these indirect equity investments has not been disclosed since these investments are recorded at their net asset redemption values. (e) This conversion factor reflects the 4-for-1 split of Visa Class A common shares, which occurred during the first quarter of 2015. (f) Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes certain financial derivative assets and liabilities, trading securities (for the 2015 period), state and municipal securities (for the 2015 period), other debt securities (for 2015 period), residential mortgage loans held for sale, trading loans, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Fair Value Measurement discussion included in Note 7 Fair Value in our 2014 Form 10-K. (g) Consisted of total Level 3 assets of $9,384 million and total Level 3 liabilities of $515 million as of September 30, 2015 and $10,257 million and $716 million as of December 31, 2014, respectively. |
Fair Value Measurements - Nonrecurring | Table 78: Fair Value Measurements - Nonrecurring Gains (Losses) Gains (Losses) Fair Value (a) Three months ended Nine months ended September 30 December 31 September 30 September 30 September 30 September 30 In millions 2015 2014 2015 2014 2015 2014 Assets Nonaccrual loans $ 44 $ 54 $ (41) $ (3) $ (48) $ (12) Loans held for sale 8 Equity investments 1 17 OREO and foreclosed assets 129 168 (6) (7) (18) (16) Long-lived assets held for sale 18 22 (2) (2) (16) (12) Total assets $ 192 $ 269 $ (49) $ (12) $ (82) $ (40) (a) All Level 3 as of September 30, 2015 and December 31, 2014, except for $8 million included in Loans held for sale which was categorized as Level 2 as of December 31, 2014. |
Fair Value Measurements - Nonrecurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 79: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) September 30, 2015 Assets Nonaccrual loans (a) $ 24 LGD percentage (b) Loss severity 9.0%-75.3% (60.9%) Equity investments 1 Discounted cash flow Market rate of return 5.0% Other (c) 167 Fair value of property or collateral Appraised value/sales price Not meaningful Total assets $ 192 December 31, 2014 Assets Nonaccrual loans (a) $ 29 LGD percentage (b) Loss severity 2.9%-68.5% (42.1%) Equity investments 17 Discounted cash flow Market rate of return 6.0% Other (c) 215 Fair value of property or collateral Appraised value/sales price Not meaningful Total assets $ 261 (a) The fair value of nonaccrual loans included in this line item is determined based on internal loss rates. The fair value of nonaccrual loans where the fair value is determined based on the appraised value or sales price is included within Other, below. (b) LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. (c) Other included Nonaccrual loans of $20 million, OREO and foreclosed assets of $129 million and Long-lived assets held for sale of $18 million as of September 30, 2015. Comparably, as of December 31, 2014, Other included Nonaccrual loans of $25 million, OREO and foreclosed assets of $168 million and Long-lived assets held for sale of $22 million. The fair value of these assets is determined based on appraised value or sales price, the range of which is not meaningful to disclose. |
Fair Value Option - Changes in Fair Value | Table 80: Fair Value Option - Changes in Fair Value (a) Gains (Losses) Gains (Losses) Three months ended Nine months ended September 30 September 30 September 30 September 30 In millions 2015 2014 2015 2014 Assets Customer resale agreements $ (1) $ (2) $ (1) $ (3) Trading loans 2 1 Commercial mortgage loans held for sale 25 6 81 13 Residential mortgage loans held for sale 56 26 127 155 Residential mortgage loans – portfolio 8 26 37 113 BlackRock Series C Preferred Stock (51) 10 (63) 13 Liabilities Other borrowed funds (2) (3) (4) (a) The impact on earnings of offsetting hedged items or hedging instruments is not reflected in these amounts. |
Fair Value Option - Fair Value and Principal Balances | Fair values and aggregate unpaid principal balances of items for which we elected the fair value option follow. Table 81: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference September 30, 2015 Assets Customer resale agreements $ 139 $ 134 $ 5 Trading loans 37 37 Residential mortgage loans held for sale Performing loans 1,074 1,025 49 Accruing loans 90 days or more past due 3 3 Nonaccrual loans 9 10 (1) Total 1,086 1,038 48 Commercial mortgage loans held for sale (a) Performing loans 800 813 (13) Nonaccrual loans 2 3 (1) Total 802 816 (14) Residential mortgage loans - portfolio Performing loans 221 278 (57) Accruing loans 90 days or more past due 462 465 (3) Nonaccrual loans 232 378 (146) Total 915 1,121 (206) Liabilities Other borrowed funds $ 136 $ 135 $ 1 December 31, 2014 Assets Customer resale agreements $ 155 $ 148 $ 7 Trading loans 37 37 Residential mortgage loans held for sale Performing loans 1,236 1,176 60 Accruing loans 90 days or more past due 9 9 Nonaccrual loans 16 17 (1) Total 1,261 1,202 59 Commercial mortgage loans held for sale (a) Performing loans 873 908 (35) Nonaccrual loans 20 64 (44) Total 893 972 (79) Residential mortgage loans - portfolio Performing loans 194 256 (62) Accruing loans 90 days or more past due 570 573 (3) Nonaccrual loans 270 449 (179) Total 1,034 1,278 (244) Liabilities Other borrowed funds $ 273 $ 312 $ (39) (a) There were no accruing loans 90 days or more past due within this category at September 30, 2015 or December 31, 2014. |
Additional Fair Value Information Related to Other Financial Instruments | Table 82: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 September 30, 2015 Assets Cash and due from banks $ 3,835 $ 3,835 $ 3,835 Short-term assets 36,644 36,644 $ 36,644 Securities held to maturity 14,403 14,765 302 14,456 $ 7 Loans held for sale 172 181 117 64 Net loans (excludes leases) 193,170 195,774 195,774 Other assets 1,900 2,473 1,857 616 (a) Total assets $ 250,124 $ 253,672 $ 4,137 $ 53,074 $ 196,461 Liabilities Demand, savings and money market deposits $ 224,097 $ 224,097 $ 224,097 Time deposits 20,882 20,934 20,934 Borrowed funds 55,790 56,066 54,674 $ 1,392 Unfunded loan commitments and letters of credit 249 249 249 Total liabilities $ 301,018 $ 301,346 $ 299,705 $ 1,641 December 31, 2014 Assets Cash and due from banks $ 4,360 $ 4,360 $ 4,360 Short-term assets 34,380 34,380 $ 34,380 Securities held to maturity 11,588 11,984 292 11,683 $ 9 Loans held for sale 108 108 56 52 Net loans (excludes leases) 192,573 194,564 194,564 Other assets 1,879 2,544 1,802 742 (a) Total assets $ 244,888 $ 247,940 $ 4,652 $ 47,921 $ 195,367 Liabilities Demand, savings and money market deposits $ 210,838 $ 210,838 $ 210,838 Time deposits 21,396 21,392 21,392 Borrowed funds 55,329 56,011 54,574 $ 1,437 Unfunded loan commitments and letters of credit 240 240 240 Total liabilities $ 287,803 $ 288,481 $ 286,804 $ 1,677 (a) Represents estimated fair value of Visa Class B common shares, which was estimated solely based upon the September 30, 2015 and December 31, 2014 closing price for the Visa Class A common shares, respectively, and the Visa Class B common share conversion rate, which reflects adjustments in respect of all litigation funding by Visa as of that date. The transfer restrictions on the Visa Class B common shares could impact the aforementioned estimate, until they can be converted to Class A common shares. See Note 22 Commitments and Guarantees in our 2014 Form 10-K for additional information. |
Goodwill and Other Intangible32
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Goodwill by Business Segment | Note 8 Goodwill and Intangible Assets Goodwill Goodwill by business segment consisted of the following: Table 83: Goodwill by Business Segment (a) September 30 December 31 In millions 2015 2014 Retail Banking $ 5,795 $ 5,795 Corporate & Institutional Banking 3,244 3,244 Asset Management Group 64 64 Total $ 9,103 $ 9,103 (a) The Residential Mortgage Banking and Non-Strategic Assets Portfolio business segments did not have any goodwill allocated to them as of September 30, 2015 and December 31, 2014. |
Mortgage Servicing Rights | Table 84: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2015 2014 2015 2014 January 1 $ 506 $ 552 $ 845 $ 1,087 Additions: From loans sold with servicing retained 48 36 61 66 Purchases 43 32 261 45 Changes in fair value due to: Time and payoffs (a) (66) (68) (136) (100) Other (b) (26) (20) (69) (120) September 30 $ 505 $ 532 $ 962 $ 978 Related unpaid principal balance at September 30 $ 143,915 $ 143,449 $ 121,680 $ 110,749 Servicing advances at September 30 $ 277 $ 318 $ 431 $ 486 (a) Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period. (b) Represents MSR value changes resulting primarily from market-driven changes in interest rates. |
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 85: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2015 2014 Fair value $ 505 $ 506 Weighted-average life (years) 4.8 4.7 Weighted-average constant prepayment rate 7.22 % 8.03 % Decline in fair value from 10% adverse change $ 10 $ 10 Decline in fair value from 20% adverse change $ 20 $ 19 Effective discount rate 7.36 % 6.59 % Decline in fair value from 10% adverse change $ 14 $ 13 Decline in fair value from 20% adverse change $ 28 $ 26 |
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 86: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2015 2014 Fair value $ 962 $ 845 Weighted-average life (years) 5.9 6.1 Weighted-average constant prepayment rate 11.82 % 11.16 % Decline in fair value from 10% adverse change $ 45 $ 36 Decline in fair value from 20% adverse change $ 86 $ 69 Weighted-average option adjusted spread 9.32 % 10.36 % Decline in fair value from 10% adverse change $ 33 $ 31 Decline in fair value from 20% adverse change $ 64 $ 61 |
Fees from Mortgage Loan Servicing | Table 87: Fees from Mortgage Loan Servicing In millions 2015 2014 Nine months ended September 30 $ 381 $ 381 Three months ended September 30 $ 133 $ 125 |
Other Intangible Assets | Table 88: Other Intangible Assets September 30 December 31 In millions 2015 2014 Gross carrying amount $ 1,499 $ 1,502 Accumulated amortization (1,092) (1,009) Net carrying amount $ 407 $ 493 |
Amortization Expense on Existing Intangible Assets | Table 89: Amortization Expense on Existing Other Intangible Assets In millions Nine months ended September 30, 2015 $ 86 Nine months ended September 30, 2014 96 Remainder of 2015 28 2016 97 2017 83 2018 72 2019 61 2020 37 |
Certain Employee Benefit and 33
Certain Employee Benefit and Stock Based Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Share-based Compensation [Abstract] | |
Net Periodic Pension and Postretirement Benefits Costs | Table 90: Net Periodic Pension and Postretirement Benefits Costs Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Three months ended September 30 In millions 2015 2014 2015 2014 2015 2014 Net periodic cost consists of: Service cost $ 27 $ 26 $ 1 $ 1 $ 2 Interest cost 44 46 3 $ 3 4 4 Expected return on plan assets (75) (72) Amortization of prior service credit (2) (2) (1) (1) Amortization of actuarial losses 8 2 1 Net periodic cost/(benefit) $ 2 $ (2) $ 6 $ 4 $ 4 $ 5 Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Nine months ended September 30 In millions 2015 2014 2015 2014 2015 2014 Net periodic cost consists of: Service cost $ 80 $ 77 $ 2 $ 2 $ 4 $ 4 Interest cost 133 140 9 9 11 12 Expected return on plan assets (223) (216) Amortization of prior service credit (6) (6) (1) (1) Amortization of actuarial losses 23 5 3 Net periodic cost/(benefit) $ 7 $ (5) $ 16 $ 14 $ 14 $ 15 |
Stock Option Rollforward | The following table represents the stock option activity for the first nine months of 2015. Table 91: Stock Option Rollforward PNC Options Converted From National City PNC Options Total Weighted-Average Weighted-Average Weighted-Average In thousands, except weighted-average data Shares Exercise Price Shares Exercise Price Shares Exercise Price Outstanding at December 31, 2014 6,701 $ 56.41 343 $ 585.23 7,044 $ 82.17 Granted (a) Exercised (1,649) 59.09 (1,649) 59.09 Cancelled (29) 44.61 (34) 731.38 (63) 412.47 Outstanding at September 30, 2015 5,023 $ 55.60 309 $ 569.21 5,332 $ 85.39 Exercisable at September 30, 2015 4,975 $ 55.52 309 $ 569.21 5,284 $ 85.59 (a) PNC did not grant any stock options in the first nine months of 2015. |
Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward | Table 92: Nonvested Incentive/Performance Unit Share Awards and Restricted Stock/Share Unit Awards - Rollforward Nonvested Nonvested Weighted- Restricted Weighted- Incentive/ Average Stock/ Average Performance Grant Date Share Grant Date Shares in thousands Unit Shares Fair Value Units Fair Value December 31, 2014 1,837 $ 69.84 3,652 $ 69.03 Granted 649 90.35 1,048 92.35 Vested/Released (682) 66.17 (1,199) 61.14 Forfeited (37) 73.56 (130) 78.13 September 30, 2015 1,767 $ 78.71 3,371 $ 78.82 |
Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units - Rollforward | Table 93: Nonvested Cash-Payable Incentive/Performance Units and Restricted Share Units – Rollforward Cash-Payable Incentive/ Cash-Payable Performance Restricted In thousands Units Share Units Total Outstanding at December 31, 2014 177 658 835 Granted 81 364 445 Vested and Released (98) (349) (447) Forfeited (43) (6) (49) Outstanding at September 30, 2015 117 667 784 |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Total Gross Derivatives | Table 94: Total Gross Derivatives September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Derivatives designated as hedging instruments under GAAP $ 52,710 $ 1,604 $ 217 $ 49,061 $ 1,261 $ 186 Derivatives not designated as hedging instruments under GAAP 313,983 4,628 4,373 291,256 3,973 3,841 Total gross derivatives $ 366,693 $ 6,232 $ 4,590 $ 340,317 $ 5,234 $ 4,027 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. |
Derivatives Designated as Hedging Instruments under GAAP | Table 95: Derivatives Designated As Hedging Instruments under GAAP September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Interest rate contracts: Fair value hedges: Receive-fixed swaps $ 24,651 $ 975 $ 20,930 $ 827 $ 38 Pay-fixed swaps (c) 5,145 $ 217 4,233 3 138 Subtotal $ 29,796 $ 975 $ 217 $ 25,163 $ 830 $ 176 Cash flow hedges: Receive-fixed swaps $ 20,423 $ 579 $ 19,991 $ 400 $ 10 Forward purchase commitments 1,366 12 2,778 25 Subtotal $ 21,789 $ 591 $ 22,769 $ 425 $ 10 Foreign exchange contracts: Net investment hedges $ 1,125 38 $ 1,129 $ 6 Total derivatives designated as hedging instruments $ 52,710 $ 1,604 $ 217 $ 49,061 $ 1,261 $ 186 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Includes zero-coupon swaps. |
Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges | Table 96: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Gain (Loss) Gain (Loss) Gain (Loss) Gain (Loss) Gain on Related Gain on Related Gain on Related Gain on Related (Loss) on Hedged (Loss) on Hedged (Loss) on Hedged (Loss) on Hedged Derivatives Items Derivatives Items Derivatives Items Derivatives Items Recognized Recognized Recognized Recognized Recognized Recognized Recognized Recognized in Income in Income in Income in Income in Income in Income in Income in Income In millions Hedged Items Location Amount Amount Amount Amount Amount Amount Amount Amount Interest rate U.S. Treasury and Investment contracts Government securities Agencies Securities (interest income) $ (91) $ 93 $ 31 $ (31) $ (79) $ 81 $ (52) $ 55 Interest rate Other Debt Investment contracts Securities securities (interest income) (1) 1 2 (2) (1) 1 1 (1) Interest rate Subordinated debt Borrowed funds contracts (interest expense) 92 (104) (69) 66 8 (37) 5 (23) Borrowed funds Interest rate Bank notes and (interest contracts senior debt expense) 213 (219) (78) 77 190 (199) (19) 15 Total (a) $ 213 $ (229) $ (114) $ 110 $ 118 $ (154) $ (65) $ 46 (a) The ineffective portion of the change in value of our fair value hedge derivatives resulted in net losses of $16 million for the three months ended September 30, 2015 and net losses of $36 million for the nine months ended September 30, 2015 compared with net losses of $4 million for the three months ended September 30, 2014 and net losses of $19 million for the nine months ended September 30, 2014. |
Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges | Table 97: Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges (a) (b) Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Gains (losses) on derivatives recognized in OCI - (effective portion) $ 326 $ (17) $ 522 $ 193 Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) Interest income 80 64 220 200 Noninterest income 12 (1) (2) Total gains (losses) reclassified from accumulated OCI into income - (effective portion) 92 64 219 198 Net unrealized gains (losses) on cash flow hedge derivatives $ 234 $ (81) $ 303 $ (5) (a) All cash flow hedge derivatives are interest rate contracts as of September 30, 2015 and September 30, 2014. (b) The amount of cash flow hedge ineffectiveness recognized in income was not material for the periods presented. |
Gains (Losses) on Derivatives - Net Investment Hedges | Table 98: Gains (Losses) on Derivatives - Net Investment Hedges Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Gains (losses) on derivatives recognized in OCI (effective portion) Foreign exchange contracts $ 43 $ 51 $ 32 $ 18 |
Derivatives Not Designated as Hedging Instruments under GAAP | Table 99: Derivatives Not Designated As Hedging Instruments under GAAP September 30, 2015 December 31, 2014 Notional/ Asset Liability Notional/ Asset Liability Contract Fair Fair Contract Fair Fair In millions Amount Value (a) Value (b) Amount Value (a) Value (b) Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts: Swaps $ 35,752 $ 972 $ 599 $ 32,459 $ 777 $ 394 Swaptions 928 31 14 1,498 29 22 Futures (c) 25,204 22,084 Futures options 17,000 4 4 12,225 4 Mortgage-backed securities commitments 3,990 20 2 710 4 Subtotal 82,874 1,027 619 68,976 814 416 Loan sales Interest rate contracts: Futures (c) 30 58 Bond options 300 1 300 Mortgage-backed securities commitments 6,027 9 26 4,916 10 21 Residential mortgage loan commitments 1,789 28 1,852 22 Subtotal 8,146 38 26 7,126 32 21 Subtotal $ 91,020 $ 1,065 $ 645 $ 76,102 $ 846 $ 437 Derivatives used for commercial mortgage banking activities: Interest rate contracts: Swaps $ 3,822 $ 103 $ 67 $ 3,801 $ 67 $ 48 Swaptions 439 439 2 1 Futures (c) 21,391 19,913 Commercial mortgage loan commitments 1,607 14 7 2,042 16 10 Subtotal 27,259 117 74 26,195 85 59 Credit contracts: Credit default swaps 79 95 Subtotal $ 27,338 $ 117 $ 74 $ 26,290 $ 85 $ 59 Derivatives used for customer-related activities: Interest rate contracts: Swaps $ 152,068 $ 2,985 $ 2,938 $ 146,008 $ 2,632 $ 2,559 Caps/floors - Sold 5,292 13 4,846 16 Caps/floors - Purchased 6,585 29 6,339 34 Swaptions 5,161 103 10 3,361 62 12 Futures (c) 1,367 3,112 Mortgage-backed securities commitments 3,299 6 8 2,137 3 3 Subtotal 173,772 3,123 2,969 165,803 2,731 2,590 Foreign exchange contracts 11,183 244 246 12,547 223 240 Credit contracts: Risk participation agreements 5,135 2 5 5,124 2 4 Subtotal $ 190,090 $ 3,369 $ 3,220 $ 183,474 $ 2,956 $ 2,834 Derivatives used for other risk management activities: Interest rate contracts $ 833 $ 1 Foreign exchange contracts $ 3,357 $ 77 $ 5 2,661 85 $ 1 Credit contracts: Credit default swaps 15 15 Other contracts (d) 2,163 429 1,881 510 Subtotal 5,535 77 434 5,390 86 511 Total derivatives not designated as hedging instruments $ 313,983 $ 4,628 $ 4,373 $ 291,256 $ 3,973 $ 3,841 (a) Included in Other assets on our Consolidated Balance Sheet. (b) Included in Other liabilities on our Consolidated Balance Sheet. (c) Futures contracts settle in cash daily and, therefore, no derivative asset or derivative liability is recognized on our Consolidated Balance Sheet. (d) Includes PNC's obligation to fund a portion of certain BlackRock LTIP programs and the swaps entered into in connection with sales of a portion of Visa Class B common shares. |
Gains (Losses) on Derivatives Not Designated as Hedging Instruments under GAAP | Table 100: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP Three months ended Nine months ended September 30 September 30 In millions 2015 2014 2015 2014 Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts $ 144 $ 15 $ 159 $ 125 Loan sales Interest rate contracts (6) 17 62 5 Gains (losses) included in residential mortgage banking activities (a) $ 138 $ 32 $ 221 $ 130 Derivatives used for commercial mortgage banking activities: Interest rate contracts (b) (c) $ 42 $ 4 $ 47 $ 47 Credit contracts (c) (1) Gains (losses) from commercial mortgage banking activities $ 42 $ 4 $ 47 $ 46 Derivatives used for customer-related activities: Interest rate contracts $ 10 $ 15 $ 44 $ 25 Foreign exchange contracts 23 (5) 56 43 Gains (losses) from customer-related activities (c) $ 33 $ 10 $ 100 $ 68 Derivatives used for other risk management activities: Interest rate contracts $ $ 1 $ 1 $ (14) Foreign exchange contracts 94 80 208 73 Other contracts (d) 47 (52) 54 (79) Gains (losses) from other risk management activities (c) $ 141 $ 29 $ 263 $ (20) Total gains (losses) from derivatives not designated as hedging instruments $ 354 $ 75 $ 631 $ 224 (a) Included in Residential mortgage noninterest income. (b) Included in Corporate services noninterest income. (c) Included in Other noninterest income. (d) Includes BlackRock LTIP funding obligation and the swaps entered into in connection with sales of a portion of Visa Class B common shares. |
Derivative Assets And Liabilities Offsetting | Table 101: Derivative Assets and Liabilities Offsetting Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Held Under September 30, 2015 Derivative Fair Value Cash Derivative Master Netting Net In millions Assets Offset Amount Collateral Assets Agreements Amounts Derivative assets Interest rate contracts $ 5,871 $ 1,956 $ 432 $ 3,483 $ 240 $ 3,243 Foreign exchange contracts 359 201 22 136 5 131 Credit contracts 2 1 1 Total derivative assets (a) $ 6,232 $ 2,158 $ 455 $ 3,619 (b) $ 245 $ 3,374 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Pledged Under September 30, 2015 Derivative Fair Value Cash Derivative Master Netting Net In millions Liabilities Offset Amount Collateral Liabilities Agreements Amounts Derivative liabilities Interest rate contracts $ 3,905 $ 2,028 $ 539 $ 1,338 $ 1,338 Foreign exchange contracts 251 126 22 103 103 Credit contracts 5 4 1 Other contracts 429 429 429 Total derivative liabilities (a) $ 4,590 $ 2,158 $ 562 $ 1,870 (c) $ 1,870 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Held Under December 31, 2014 Derivative Fair Value Cash Derivative Master Netting Net In millions Assets Offset Amount Collateral Assets Agreements Amounts Derivative assets Interest rate contracts $ 4,918 $ 1,981 $ 458 $ 2,479 $ 143 $ 2,336 Foreign exchange contracts 314 159 47 108 1 107 Credit contracts 2 1 1 Total derivative assets (a) $ 5,234 $ 2,141 $ 506 $ 2,587 (b) $ 144 $ 2,443 Amounts Securities Gross Offset on the Net Collateral Fair Value Consolidated Balance Sheet Fair Value Pledged Under December 31, 2014 Derivative Fair Value Cash Derivative Master Netting Net In millions Liabilities Offset Amount Collateral Liabilities Agreements Amounts Derivative liabilities Interest rate contracts $ 3,272 $ 2,057 $ 483 $ 732 $ 732 Foreign exchange contracts 241 80 20 141 141 Credit contracts 4 4 Other contracts 510 510 510 Total derivative liabilities (a) $ 4,027 $ 2,141 $ 503 $ 1,383 (c) $ 1,383 (a) Included derivative assets and derivative liabilities as of September 30, 2015 totaling $1.4 billion and $1.3 billion, respectively, related to interest rate contracts executed bilaterally with counterparties in the U.S. over-the-counter market and novated to and cleared through a central clearing house. The comparable amounts as of December 31, 2014 totaled $807 million and $657 million, respectively. Derivative assets and liabilities as of September 30, 2015 and December 31, 2014 related to exchange-traded interest rate contracts were not material. As of September 30, 2015 and December 31, 2014, these contracts were not subject to offsetting. The remaining gross and net derivative assets and liabilities relate to contracts executed bilaterally with counterparties that are not settled through an organized exchange or central clearing house. (b) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (c) Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings per Share | |
Basic and Diluted Earnings per Common Share | Note 12 Earnings Per Share Table 102: Basic and Diluted Earnings per Common Share Three months ended Nine months ended September 30 September 30 In millions, except per share data 2015 2014 2015 2014 Basic Net income $ 1,073 $ 1,038 $ 3,121 $ 3,150 Less: Net income (loss) attributable to noncontrolling interests 18 1 23 2 Preferred stock dividends and discount accretion and redemptions 64 71 182 189 Net income attributable to common shares 991 966 2,916 2,959 Less: Dividends and undistributed earnings allocated to nonvested restricted shares 3 2 9 Net income attributable to basic common shares $ 991 $ 963 $ 2,914 $ 2,950 Basic weighted-average common shares outstanding 512 529 516 531 Basic earnings per common share (a) $ 1.93 $ 1.82 $ 5.64 $ 5.55 Diluted Net income attributable to basic common shares $ 991 $ 963 $ 2,914 $ 2,950 Less: Impact of BlackRock earnings per share dilution 4 4 14 13 Net income attributable to diluted common shares $ 987 $ 959 $ 2,900 $ 2,937 Basic weighted-average common shares outstanding 512 529 516 531 Dilutive potential common shares (b) (c) 8 8 9 8 Diluted weighted-average common shares outstanding 520 537 525 539 Diluted earnings per common share (a) $ 1.90 $ 1.79 $ 5.52 $ 5.45 (a) Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares (participating securities). (b) No stock options were considered to be anti-dilutive for the three and nine months ended September 30, 2015 and September 30, 2014, respectively. (c) No warrants were considered to be anti-dilutive for the three and nine months ended September 30, 2015 and September 30, 2014, respectively. |
Total Equity and Other Compre36
Total Equity and Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Other Comprehensive Income [Abstract] | |
Rollforward of Total Equity | Table 103: Rollforward of Total Equity Shareholders' Equity Capital Accumulated Shares Capital Surplus - Other Outstanding Surplus - Common Comprehensive Non- Common Common Preferred Stock Retained Income Treasury controlling Total In millions Stock Stock Stock and Other Earnings (Loss) Stock Interests Equity Balance at December 31, 2013 533 $ 2,698 $ 3,941 $ 12,416 $ 23,251 $ 436 $ (408) $ 1,703 $ 44,037 Cumulative effect of adopting ASC 860-50 (a) 2 2 Balance at January 1, 2014 533 $ 2,698 $ 3,941 $ 12,416 $ 23,253 $ 436 $ (408) $ 1,703 $ 44,039 Net income 3,148 2 3,150 Other comprehensive income (loss), net of tax 291 291 Cash dividends declared Common ($1.40 per share) (748) (748) Preferred (185) (185) Preferred stock discount accretion 4 (4) Common stock activity 1 5 56 61 Treasury stock activity (6) 12 (523) (511) Other 89 (191) (102) Balance at September 30, 2014 (b) 528 $ 2,703 $ 3,945 $ 12,573 $ 25,464 $ 727 $ (931) $ 1,514 $ 45,995 Balance at January 1, 2015 523 $ 2,705 $ 3,946 $ 12,627 $ 26,200 $ 503 $ (1,430) $ 1,523 $ 46,074 Net income 3,098 23 3,121 Other comprehensive income (loss), net of tax 112 112 Cash dividends declared Common ($1.50 per share) (779) (779) Preferred (178) (178) Preferred stock discount accretion 4 (4) Common stock activity 1 3 36 39 Treasury stock activity (14) (58) (1,407) (1,465) Preferred stock redemption - Series K (c) (500) (500) Other 70 (216) (146) Balance at September 30, 2015 (b) 510 $ 2,708 $ 3,450 $ 12,675 $ 28,337 $ 615 $ (2,837) $ 1,330 $ 46,278 (a) Amount represents the cumulative impact of our January 1, 2014 irrevocable election to prospectively measure all classes of commercial MSRs at fair value. See Note 1 Accounting Policies and Note 8 Goodwill and Other Intangible Assets for more information on this election in our Notes To Consolidated Financial Statements under Item 8 of our 2014 Form 10-K. (b) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (c) On May 4, 2015, PNC redeemed all 50,000 shares of its Series K Preferred Stock, as well as all 500,000 Depositary Shares representing fractional interests in such shares, resulting in net outflow of $500 million. |
Other Comprehensive Income | Table 104: Other Comprehensive Income Details of other comprehensive income (loss) are as follows: In millions Pretax Tax After-tax Net unrealized gains (losses) on non-OTTI securities Balance at June 30, 2014 $ 1,048 $ (385) $ 663 Third Quarter 2014 activity Increase in net unrealized gains (losses) on non-OTTI securities (125) 46 (79) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 7 (3) 4 Net unrealized gains (losses) on non-OTTI securities (132) 49 (83) Balance at September 30, 2014 916 (336) 580 Balance at June 30, 2015 731 (268) 463 Third Quarter 2015 activity Increase in net unrealized gains (losses) on non-OTTI securities 139 (52) 87 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 6 (2) 4 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (21) 7 (14) Net unrealized gains (losses) on non-OTTI securities 154 (57) 97 Balance at September 30, 2015 $ 885 $ (325) $ 560 Net unrealized gains (losses) on OTTI securities Balance at June 30, 2014 $ 143 $ (51) $ 92 Third Quarter 2014 activity Increase in net unrealized gains (losses) on OTTI securities 14 (5) 9 Less: OTTI losses realized on securities reclassified to noninterest income (1) 1 Net unrealized gains (losses) on OTTI securities 15 (6) 9 Balance at September 30, 2014 158 (57) 101 Balance at June 30, 2015 122 (44) 78 Third Quarter 2015 activity Increase in net unrealized gains (losses) on OTTI securities 3 (1) 2 Less: OTTI losses realized on securities reclassified to noninterest income (1) (1) Net unrealized gains (losses) on OTTI securities 4 (1) 3 Balance at September 30, 2015 $ 126 $ (45) $ 81 Net unrealized gains (losses) on cash flow hedge derivatives Balance at June 30, 2014 $ 460 $ (168) $ 292 Third Quarter 2014 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives (17) 6 (11) Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 61 (22) 39 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 3 (1) 2 Net unrealized gains (losses) on cash flow hedge derivatives (81) 29 (52) Balance at September 30, 2014 379 (139) 240 Balance at June 30, 2015 621 (227) 394 Third Quarter 2015 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 326 (119) 207 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 74 (27) 47 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 6 (2) 4 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) 12 (4) 8 Net unrealized gains (losses) on cash flow hedge derivatives 234 (86) 148 Balance at September 30, 2015 $ 855 $ (313) $ 542 In millions Pretax Tax After-tax Pension and other postretirement benefit plan adjustments Balance at June 30, 2014 $ (283) $ 103 $ (180) Third Quarter 2014 activity Amortization of actuarial loss (gain) reclassified to other noninterest expense 1 1 Amortization of prior service cost (credit) reclassified to other noninterest expense (3) 1 (2) Total Third Quarter 2014 activity (2) 1 (1) Balance at September 30, 2014 (285) 104 (181) Balance at June 30, 2015 (770) 282 (488) Third Quarter 2015 activity Net pension and other postretirement benefit plan activity Amortization of actuarial loss (gain) reclassified to other noninterest expense 10 (3) 7 Amortization of prior service cost (credit) reclassified to other noninterest expense (3) 1 (2) Total Third Quarter 2015 activity 7 (2) 5 Balance at September 30, 2015 $ (763) $ 280 $ (483) Other Balance at June 30, 2014 $ (13) $ 27 $ 14 Third Quarter 2014 Activity PNC's portion of BlackRock's OCI (10) 4 (6) Net investment hedge derivatives (b) 51 (19) 32 Foreign currency translation adjustments (c) (53) (53) Total Third Quarter 2014 activity (12) (15) (27) Balance at September 30, 2014 (25) 12 (13) Balance at June 30, 2015 (95) 27 (68) Third Quarter 2015 Activity PNC's portion of BlackRock's OCI Net investment hedge derivatives (b) 43 (16) 27 Foreign currency translation adjustments (c) (44) (44) Total Third Quarter 2015 activity (1) (16) (17) Balance at September 30, 2015 $ (96) $ 11 $ (85) In millions Pretax Tax After-tax Net unrealized gains (losses) on non-OTTI securities Balance at December 31, 2013 $ 647 $ (238) $ 409 2014 activity Increase in net unrealized gains (losses) on non-OTTI securities 296 (108) 188 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 21 (8) 13 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 6 (2) 4 Net unrealized gains (losses) on non-OTTI securities 269 (98) 171 Balance at September 30, 2014 916 (336) 580 Balance at December 31, 2014 1,022 (375) 647 2015 activity Increase in net unrealized gains (losses) on non-OTTI securities (75) 27 (48) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 20 (7) 13 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 42 (16) 26 Net unrealized gains (losses) on non-OTTI securities (137) 50 (87) Balance at September 30, 2015 $ 885 $ (325) $ 560 Net unrealized gains (losses) on OTTI securities Balance at December 31, 2013 $ 36 $ (12) $ 24 2014 activity Increase in net unrealized gains (losses) on OTTI securities 118 (43) 75 Less: OTTI losses realized on securities reclassified to noninterest income (4) 2 (2) Net unrealized gains (losses) on OTTI securities 122 (45) 77 Balance at September 30, 2014 158 (57) 101 Balance at December 31, 2014 115 (41) 74 2015 activity Increase in net unrealized gains (losses) on OTTI securities 8 (3) 5 Less: OTTI losses realized on securities reclassified to noninterest income (3) 1 (2) Net unrealized gains (losses) on OTTI securities 11 (4) 7 Balance at September 30, 2015 $ 126 $ (45) $ 81 Net unrealized gains (losses) on cash flow hedge derivatives Balance at December 31, 2013 $ 384 $ (141) $ 243 2014 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 193 (72) 121 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 191 (70) 121 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 9 (4) 5 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) (2) (2) Net unrealized gains (losses) on cash flow hedge derivatives (5) 2 (3) Balance at September 30, 2014 379 (139) 240 Balance at December 31, 2014 552 (202) 350 2015 activity Increase in net unrealized gains (losses) on cash flow hedge derivatives 522 (191) 331 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income (a) 202 (74) 128 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income (a) 18 (7) 11 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income (a) (1) 1 Net unrealized gains (losses) on cash flow hedge derivatives 303 (111) 192 Balance at September 30, 2015 $ 855 $ (313) $ 542 In millions Pretax Tax After-tax Pension and other postretirement benefit plan adjustments Balance at December 31, 2013 $ (374) $ 137 $ (237) 2014 Activity Net pension and other postretirement benefit plan activity 93 (35) 58 Amortization of actuarial loss (gain) reclassified to other noninterest expense 3 (1) 2 Amortization of prior service cost (credit) reclassified to other noninterest expense (7) 3 (4) Total 2014 activity 89 (33) 56 Balance at September 30, 2014 (285) 104 (181) Balance at December 31, 2014 (820) 300 (520) 2015 Activity Net pension and other postretirement benefit plan activity 36 (13) 23 Amortization of actuarial loss (gain) reclassified to other noninterest expense 28 (10) 18 Amortization of prior service cost (credit) reclassified to other noninterest expense (7) 3 (4) Total 2015 Activity 57 (20) 37 Balance at September 30, 2015 $ (763) $ 280 $ (483) Other Balance at December 31, 2013 $ (20) $ 17 $ (3) 2014 Activity PNC's portion of BlackRock's OCI (3) 2 (1) Net investment hedge derivatives (b) 18 (7) 11 Foreign currency translation adjustments (20) (20) Total 2014 activity (5) (5) (10) Balance at September 30, 2014 (25) 12 (13) Balance at December 31, 2014 (59) 11 (48) 2015 Activity PNC's portion of BlackRock's OCI (34) 12 (22) Net investment hedge derivatives (b) 32 (12) 20 Foreign currency translation adjustments (c) (35) (35) Total 2015 activity (37) (37) Balance at September 30, 2015 $ (96) $ 11 $ (85) (a) Cash flow hedge derivatives are interest rate contract derivatives designated as hedging instruments under GAAP. (b) Net investment hedge derivatives are foreign exchange contracts designated as hedging instruments under GAAP. (c) The earnings of PNC's Luxembourg-UK lending business have been indefinitely reinvested: therefore, no U.S. deferred income tax has been recorded on the foreign currency translation of the investment. |
Accumulated Other Comprehensive Income (Loss) Components | Table 105: Accumulated Other Comprehensive Income (Loss) Components September 30, 2015 December 31, 2014 In millions Pretax After-tax Pretax After-tax Net unrealized gains (losses) on non-OTTI securities $ 885 $ 560 $ 1,022 $ 647 Net unrealized gains (losses) on OTTI securities 126 81 115 74 Net unrealized gains (losses) on cash flow hedge derivatives 855 542 552 350 Pension and other postretirement benefit plan adjustments (763) (483) (820) (520) Other (96) (85) (59) (48) Accumulated other comprehensive income (loss) $ 1,007 $ 615 $ 810 $ 503 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Income Taxes [Abstract] | |
Net Operating Loss Carryforwards and Tax Credit Carryforwards | Table 106: Net Operating Loss Carryforwards and Tax Credit Carryforwards September 30 December 31 In millions 2015 2014 Net Operating Loss Carryforwards: Federal $ 918 $ 997 State $ 2,433 $ 2,594 Tax Credit Carryforwards: Federal $ 35 $ 35 State $ 7 $ 7 |
Commitments And Guarantees (Tab
Commitments And Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Guarantees [Abstract] | |
Commitments to Extend Credit and Other Commitments | Table 107: Commitments to Extend Credit and Other Commitments September 30 December 31 In millions 2015 2014 Commitments to extend credit Total commercial lending $ 100,323 $ 98,742 Home equity lines of credit 17,350 17,839 Credit card 19,622 17,833 Other 4,075 4,178 Total commitments to extend credit 141,370 138,592 Net outstanding standby letters of credit (a) 9,112 9,991 Reinsurance agreements 2,054 4,297 Standby bond purchase agreements (b) 968 1,095 Other commitments (c) 990 962 Total commitments to extend credit and other commitments $ 154,494 $ 154,937 (a) Net outstanding standby letters of credit include $4.9 billion and $5.2 billion which support remarketing programs at September 30, 2015 and December 31, 2014, respectively. (b) We enter into standby bond purchase agreements to support municipal bond obligations. (c) Includes $441 million related to investments in qualified affordable housing projects at both September 30, 2015 and December 31, 2014. |
Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit | Table 108: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit September 30 December 31 2015 2014 Internal credit ratings (as a percentage of portfolio): Pass (a) 94 % 95 % Below pass (b) 6 % 5 % (a) Indicates that expected risk of loss is currently low. (b) Indicates a higher degree of risk of default. |
Reinsurance Agreements Exposure | Table 109: Reinsurance Agreements Exposure (a) September 30 December 31 In millions 2015 2014 Accidental Death & Dismemberment $ 1,678 $ 1,774 Credit Life, Accident & Health 376 467 Lender Placed Hazard (b) (c) 2,056 Maximum Exposure (d) $ 2,054 $ 4,297 Maximum Exposure to Quota Share Agreements with 100% Reinsurance $ 375 $ 466 (a) Reinsurance agreements exposure balances represent estimates based on availability of financial information from insurance carriers. (b) Through the purchase of catastrophe reinsurance connected to the Lender Placed Hazard Exposure, should a catastrophic event occur, PNC will benefit from this reinsurance. No credit for the catastrophe reinsurance protection is applied to the aggregate exposure figure. (c) Program was placed into run-off for coverage issued or renewed on or after June 1, 2014 with policy terms one year or less. (d) The Borrower and Lender Paid Mortgage Insurance program was placed into run-off. Most of these policies carry no liability to PNC, and due to immateriality this program is no longer included in the maximum exposure amount. |
Reinsurance Reserves - Rollforward | A rollforward of the reinsurance reserves for probable losses for the first nine months of 2015 and 2014 is as follows: Table 110: Reinsurance Reserves - Rollforward In millions 2015 2014 January 1 $ 13 $ 32 Paid Losses (8) (17) Net Provision 5 10 Changes to Agreements (10) September 30 $ 10 $ 15 |
Analysis of Commercial Mortgage Recourse Obligations | Table 111: Analysis of Commercial Mortgage Recourse Obligations In millions 2015 2014 January 1 $ 35 $ 33 Reserve adjustments, net 3 3 September 30 $ 38 $ 36 |
Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims | Table 112: Analysis of Indemnification and Repurchase Liability for Asserted Claims and Unasserted Claims 2015 2014 Home Home Equity Equity Residential Loans/ Residential Loans/ In millions Mortgages (a) Lines (b) Total Mortgages (a) Lines (b) Total January 1 $ 107 $ 29 $ 136 $ 131 $ 22 $ 153 Reserve adjustments, net 4 (5) (1) (4) 14 10 Losses - loan repurchases and private investor settlements (16) (2) (18) (19) (12) (31) September 30 $ 95 $ 22 $ 117 $ 108 $ 24 $ 132 (a) The unpaid principal balance of loans associated with our exposure to repurchase obligations totaled $66.0 billion and $69.0 billion at September 30, 2015 and September 30, 2014, respectively. (b) Repurchase obligation was associated with sold loan portfolios of $2.2 billion and $2.6 billion at September 30, 2015 and September 30, 2014, respectively. PNC is no longer engaged in the brokered home equity lending business, which was acquired with National City. |
Resale and Repurchase Agreements Offsetting | Table 113: Resale and Repurchase Agreements Offsetting Amounts Securities Offset Collateral Gross on the Net Held Under Resale Consolidated Resale Master Netting Net In millions Agreements Balance Sheet Agreements (a) Agreements (b) Amounts (c) Resale Agreements September 30, 2015 $ 1,143 $ 1,143 $ 1,069 $ 74 December 31, 2014 $ 1,646 $ 1,646 $ 1,569 $ 77 Amounts Securities Offset Collateral Gross on the Net Pledged Under Repurchase Consolidated Repurchase Master Netting Net In millions Agreements Balance Sheet Agreements (d) Agreements (b) Amounts (e) Repurchase Agreements September 30, 2015 $ 2,003 $ 2,003 $ 1,183 $ 820 December 31, 2014 $ 3,406 $ 3,406 $ 2,580 $ 826 (a) Represents the resale agreement amount included in Federal funds sold and resale agreements on our Consolidated Balance Sheet and the related accrued interest income in the amount of less than $1 million at September 30, 2015 and $1 million at December 31, 2014, respectively, which is included in Other Assets on the Consolidated Balance Sheet. (b) Represents the fair value of securities collateral purchased or sold, up to the amount owed under the agreement, for agreements supported by a legally enforceable master netting agreement. (c) Represents certain long term resale agreements which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. (d) Represents the repurchase agreement amount included in Federal funds purchased and repurchase agreements on our Consolidated Balance Sheet and the related accrued interest expense in the amount of less than $1 million at both September 30, 2015 and December 31, 2014, which is included in Other Liabilities on the Consolidated Balance Sheet. (e) Represents overnight repurchase agreements entered into with municipalities, pension plans, and certain trusts and insurance companies which are fully collateralized but do not have the benefits of a netting opinion and, therefore, might be subject to a stay in insolvency proceedings and therefore are not eligible under ASC 210-20 for netting. There were no long term repurchase agreements as of September 30, 2015 and December 31, 2014. |
Repurchase Agreements By Type of Collateral Pledged | Table 114: Repurchase Agreements By Type of Collateral Pledged September 30, 2015 Overnight in millions or Continuous Gross Repurchase Agreements U.S. Treasury and government agency securities $ 88 Residential mortgage-backed agency securities 1,847 Commercial mortgage-backed agency securities 68 Total $ 2,003 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Results of Businesses | Table 115: Results Of Businesses Corporate & Asset Residential Non-Strategic Three months ended September 30 Retail Institutional Management Mortgage Assets In millions Banking Banking Group Banking BlackRock Portfolio Other Consolidated 2015 Income Statement Net interest income $ 1,068 $ 855 $ 71 $ 31 $ 90 $ (53) $ 2,062 Noninterest income 574 476 207 135 $ 181 16 124 1,713 Total revenue 1,642 1,331 278 166 181 106 71 3,775 Provision for credit losses (benefit) 57 46 (2) 2 (25) 3 81 Depreciation and amortization 42 36 10 4 109 201 Other noninterest expense 1,148 497 201 167 23 115 2,151 Income (loss) before income taxes and noncontrolling interests 395 752 69 (7) 181 108 (156) 1,342 Income taxes (benefit) 144 250 25 (3) 42 40 (229) 269 Net income (loss) $ 251 $ 502 $ 44 $ (4) $ 139 $ 68 $ 73 $ 1,073 Inter-segment revenue $ 7 $ 2 $ 5 $ 3 $ (2) $ (15) Average Assets (a) $ 72,916 $ 131,613 $ 7,902 $ 6,513 $ 6,813 $ 6,460 $ 126,370 $ 358,587 2014 Income Statement Net interest income $ 983 $ 890 $ 72 $ 38 $ 146 $ (25) $ 2,104 Noninterest income 536 464 205 147 $ 196 6 183 1,737 Total revenue 1,519 1,354 277 185 196 152 158 3,841 Provision for credit losses (benefit) 74 (4) (4) (1) (8) (2) 55 Depreciation and amortization 43 33 10 3 105 194 Other noninterest expense 1,132 495 199 165 30 142 2,163 Income (loss) before income taxes and noncontrolling interests 270 830 72 18 196 130 (87) 1,429 Income taxes (benefit) 97 281 26 6 50 48 (117) 391 Net income $ 173 $ 549 $ 46 $ 12 $ 146 $ 82 $ 30 $ 1,038 Inter-segment revenue $ 2 $ 13 $ 3 $ 13 $ 4 $ (7) $ (28) Average Assets (a) $ 74,682 $ 123,671 $ 7,775 $ 7,418 $ 6,562 $ 8,231 $ 101,106 $ 329,445 Corporate & Asset Residential Non-Strategic Nine months ended September 30 Retail Institutional Management Mortgage Assets In millions Banking Banking Group Banking BlackRock Portfolio Other Consolidated 2015 Income Statement Net interest income $ 3,150 $ 2,515 $ 215 $ 91 $ 302 $ (87) $ 6,186 Noninterest income 1,652 1,397 658 488 $ 532 34 425 5,186 Total revenue 4,802 3,912 873 579 532 336 338 11,372 Provision for credit losses (benefit) 151 83 11 2 (61) (5) 181 Depreciation and amortization 127 109 33 11 315 595 Other noninterest expense 3,431 1,485 603 499 73 381 6,472 Income (loss) before income taxes and noncontrolling interests 1,093 2,235 226 67 532 324 (353) 4,124 Income taxes (benefit) 399 743 83 24 125 119 (490) 1,003 Net income $ 694 $ 1,492 $ 143 $ 43 $ 407 $ 205 $ 137 $ 3,121 Inter-segment revenue $ 1 $ 20 $ 7 $ 14 $ 11 $ (6) $ (47) Average Assets (a) $ 73,430 $ 131,678 $ 7,922 $ 6,962 $ 6,813 $ 6,880 $ 119,448 $ 353,133 2014 Income Statement Net interest income $ 2,936 $ 2,681 $ 215 $ 115 $ 425 $ 56 $ 6,428 Noninterest income 1,591 1,255 611 503 $ 528 22 490 5,000 Total revenue 4,527 3,936 826 618 528 447 546 11,428 Provision for credit losses (benefit) 223 86 2 (1) (99) 10 221 Depreciation and amortization 131 96 31 9 293 560 Other noninterest expense 3,299 1,424 579 541 86 460 6,389 Income (loss) before income taxes and noncontrolling interests 874 2,330 214 69 528 460 (217) 4,258 Income taxes (benefit) 318 788 78 25 129 169 (399) 1,108 Net income $ 556 $ 1,542 $ 136 $ 44 $ 399 $ 291 $ 182 $ 3,150 Inter-segment revenue $ 4 $ 18 $ 9 $ 25 $ 12 $ (15) $ (53) Average Assets (a) $ 75,264 $ 121,232 $ 7,687 $ 7,889 $ 6,562 $ 8,563 $ 96,681 $ 323,878 (a) Period-end balances for BlackRock. |
Accounting Policies (Details)
Accounting Policies (Details) $ in Millions | Sep. 30, 2015USD ($) |
Charge off threshold - small business commercial loans | $ 1 |
Loan Sale and Servicing Activ41
Loan Sale and Servicing Activities and Variable Interest Entities (Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Residential Mortgages [Member] | |||||
Carrying value of mortgage-backed securities held | $ 5,800,000,000 | $ 3,500,000,000 | $ 5,800,000,000 | $ 3,500,000,000 | $ 3,400,000,000 |
Cash flows from sales of loans | 2,329,000,000 | 2,153,000,000 | 6,284,000,000 | 6,437,000,000 | |
Cash flows from repurchases of previously transferred loans | 129,000,000 | 188,000,000 | 432,000,000 | 556,000,000 | |
Cash flows from servicing fees | 84,000,000 | 86,000,000 | 249,000,000 | 260,000,000 | |
Cash flows from servicing advances recovered | 32,000,000 | 15,000,000 | 70,000,000 | 84,000,000 | |
Cash flows on mortgage-backed securities held | 424,000,000 | 238,000,000 | 1,093,000,000 | 724,000,000 | |
Commercial Mortgages [Member] | |||||
Carrying value of mortgage-backed securities held | 1,100,000,000 | 1,200,000,000 | 1,100,000,000 | 1,200,000,000 | $ 1,300,000,000 |
Cash flows from sales of loans | 846,000,000 | 1,091,000,000 | 3,025,000,000 | 2,026,000,000 | |
Cash flows from servicing fees | 35,000,000 | 34,000,000 | 103,000,000 | 101,000,000 | |
Cash flows from servicing advances recovered | 38,000,000 | 22,000,000 | 93,000,000 | ||
Cash flows on mortgage-backed securities held | 41,000,000 | 51,000,000 | 155,000,000 | 242,000,000 | |
Cash flows from servicing advances (funded) | (6,000,000) | ||||
Home Equity Loans Lines [Member] | |||||
Cash flows from repurchases of previously transferred loans | 90,000,000 | 4,000,000 | 92,000,000 | 13,000,000 | |
Cash flows from servicing fees | 4,000,000 | $ 4,000,000 | 12,000,000 | 14,000,000 | |
Cash flows from servicing advances recovered | $ 3,000,000 | $ 28,000,000 | $ 6,000,000 |
Loan Sale and Servicing Activ42
Loan Sale and Servicing Activities and Variable Interest Entities (Principal Balance, Delinquent Loans (Loans 90 Days or More Past Due), and Net Charge-Offs Related to Serviced Loans) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Residential Mortgages [Member] | |||||
Total principal balance | $ 74,338,000,000 | $ 74,338,000,000 | $ 79,108,000,000 | ||
Delinquent loans | 2,014,000,000 | 2,014,000,000 | 2,657,000,000 | ||
Net charge-offs | 23,000,000 | $ 33,000,000 | 92,000,000 | $ 108,000,000 | |
Commercial Mortgages [Member] | |||||
Total principal balance | 53,466,000,000 | 53,466,000,000 | 60,873,000,000 | ||
Delinquent loans | 792,000,000 | 792,000,000 | 707,000,000 | ||
Net charge-offs | 236,000,000 | 439,000,000 | 491,000,000 | 1,139,000,000 | |
Home Equity Loans Lines [Member] | |||||
Total principal balance | 3,009,000,000 | 3,009,000,000 | 3,833,000,000 | ||
Delinquent loans | 933,000,000 | 933,000,000 | $ 1,303,000,000 | ||
Net charge-offs | $ 6,000,000 | $ 15,000,000 | $ 21,000,000 | $ 47,000,000 |
Loan Sale and Servicing Activ43
Loan Sale and Servicing Activities and Variable Interest Entities (Consolidated VIEs - Carrying Value) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | ||||
Cash and due from banks | $ 3,835,000,000 | [1] | $ 4,360,000,000 | [1] | $ 4,164,000,000 | $ 4,043,000,000 | ||
Interest-earning deposits with banks | [1] | 34,224,000,000 | 31,779,000,000 | |||||
Total Loans | 204,983,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 200,872,000,000 | |||
Allowance for loan and lease losses | (3,237,000,000) | [1] | (3,331,000,000) | [1] | $ (3,406,000,000) | [1] | $ (3,609,000,000) | |
Equity investments | [1] | 10,497,000,000 | 10,728,000,000 | |||||
Other assets | [1],[2] | 27,285,000,000 | 23,482,000,000 | |||||
Total assets | 362,125,000,000 | 345,072,000,000 | ||||||
Other borrowed funds | [1],[2] | 2,806,000,000 | 3,357,000,000 | |||||
Accrued expenses | [1] | 5,185,000,000 | 5,187,000,000 | |||||
Other liabilities | [1] | 8,754,000,000 | 4,550,000,000 | |||||
Total liabilities | 315,847,000,000 | 298,998,000,000 | ||||||
Variable Interest Entity, Primary Beneficiary [Member] | ||||||||
Cash and due from banks | [1] | 5,000,000 | 6,000,000 | |||||
Interest-earning deposits with banks | [1] | 5,000,000 | 6,000,000 | |||||
Total Loans | [1] | 1,354,000,000 | 1,606,000,000 | |||||
Allowance for loan and lease losses | [1] | (43,000,000) | (50,000,000) | |||||
Equity investments | [1] | 114,000,000 | 492,000,000 | |||||
Other assets | [1] | 468,000,000 | 483,000,000 | |||||
Total assets | 1,903,000,000 | 2,543,000,000 | ||||||
Other borrowed funds | [1] | 207,000,000 | 347,000,000 | |||||
Accrued expenses | [1] | 55,000,000 | 70,000,000 | |||||
Other liabilities | [1] | 95,000,000 | 206,000,000 | |||||
Total liabilities | 357,000,000 | 623,000,000 | ||||||
Variable Interest Entity, Primary Beneficiary [Member] | Credit Card and Other Securitization Trusts [Member] | ||||||||
Total Loans | 1,348,000,000 | 1,606,000,000 | ||||||
Allowance for loan and lease losses | (43,000,000) | (50,000,000) | ||||||
Other assets | 19,000,000 | 31,000,000 | ||||||
Total assets | 1,324,000,000 | 1,587,000,000 | ||||||
Other borrowed funds | 51,000,000 | 166,000,000 | ||||||
Total liabilities | 51,000,000 | 166,000,000 | ||||||
Variable Interest Entity, Primary Beneficiary [Member] | Tax Credit Investments | ||||||||
Cash and due from banks | 5,000,000 | 6,000,000 | ||||||
Interest-earning deposits with banks | 5,000,000 | 6,000,000 | ||||||
Total Loans | 6,000,000 | |||||||
Equity investments | 114,000,000 | 492,000,000 | ||||||
Other assets | 449,000,000 | 452,000,000 | ||||||
Total assets | 579,000,000 | 956,000,000 | ||||||
Other borrowed funds | 156,000,000 | 181,000,000 | ||||||
Accrued expenses | 55,000,000 | 70,000,000 | ||||||
Other liabilities | 95,000,000 | 206,000,000 | ||||||
Total liabilities | $ 306,000,000 | $ 457,000,000 | ||||||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | |||||||
[2] | Amounts represent items for which we have elected the fair value option. |
Loan Sale and Servicing Activ44
Loan Sale and Servicing Activities and Variable Interest Entities (Non-Consolidated VIEs) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
PNC Risk of Loss | $ 9,485,000,000 | $ 7,205,000,000 |
Carrying Value of Assets Owned by PNC | 9,544,000,000 | 7,239,000,000 |
Carrying Value of Liabilities Owned by PNC | 720,000,000 | 782,000,000 |
Commercial Mortgage-Backed Securitizations [Member] | ||
PNC Risk of Loss | 1,314,000,000 | 1,550,000,000 |
Carrying Value of Assets Owned by PNC | 1,314,000,000 | 1,550,000,000 |
Carrying Value of Liabilities Owned by PNC | 0 | 1,000,000 |
Residential Mortgage-Backed Securitizations [Member] | ||
PNC Risk of Loss | 5,783,000,000 | 3,385,000,000 |
Carrying Value of Assets Owned by PNC | 5,783,000,000 | 3,385,000,000 |
Carrying Value of Liabilities Owned by PNC | 1,000,000 | 4,000,000 |
Tax Credit Investments And Other [Member] | ||
PNC Risk of Loss | 2,388,000,000 | 2,270,000,000 |
Carrying Value of Assets Owned by PNC | 2,447,000,000 | 2,304,000,000 |
Carrying Value of Liabilities Owned by PNC | $ 719,000,000 | $ 777,000,000 |
Asset Quality (Narrative) (Deta
Asset Quality (Narrative) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Troubled debt restructurings (TDRs) | $ 2,368,000,000 | $ 2,583,000,000 | |
Specific ALLL reserve for TDRs | 302,000,000 | 386,000,000 | $ 408,000,000 |
Nonperforming loans | 2,177,000,000 | 2,510,000,000 | |
Federal Reserve Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | 18,900,000,000 | 19,200,000,000 | |
Federal Home Loan Bank [Member] | |||
Loans pledged as collateral for contingent borrowings | 54,200,000,000 | 52,800,000,000 | |
Equipment Lease Financing [Member] | Excluded from impaired loans due to authoritative lease accounting guidance [Member] | |||
Nonperforming loans | 7,000,000 | 2,000,000 | |
Nonperforming [Member] | |||
Troubled debt restructurings (TDRs) | 1,171,000,000 | 1,370,000,000 | |
Accruing [Member] | |||
Troubled debt restructurings (TDRs) | 1,085,000,000 | 1,083,000,000 | |
Performing TDRs, including credit card loans | |||
Troubled debt restructurings (TDRs) | $ 1,200,000,000 | $ 1,200,000,000 |
Asset Quality (Analysis of Loan
Asset Quality (Analysis of Loan Portfolio) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | $ 196,745,000,000 | $ 195,234,000,000 | |||
30-59 Days Past Due | 508,000,000 | 582,000,000 | |||
60-89 Days Past Due | 265,000,000 | 259,000,000 | |||
90 Days Or More Past Due | 890,000,000 | 1,105,000,000 | |||
Total Past Due | 1,663,000,000 | 1,946,000,000 | |||
Nonperforming loans | 2,177,000,000 | 2,510,000,000 | |||
Fair Value Option Nonaccrual Loans | 231,000,000 | 269,000,000 | |||
Purchased impaired loans | 4,167,000,000 | 4,858,000,000 | $ 5,167,000,000 | ||
Total loans | 204,983,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 200,872,000,000 |
Unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums | $ 1,500,000,000 | $ 1,700,000,000 | |||
Current or Less Than 30 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 95.99% | 95.32% | |||
30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.25% | 0.28% | |||
60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.13% | 0.13% | |||
90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.43% | 0.54% | |||
Total Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.81% | 0.95% | |||
Nonperforming Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 1.06% | 1.23% | |||
Fair Value Option Nonaccrual Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 0.11% | 0.13% | |||
Purchased Impaired [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 2.03% | 2.37% | |||
Total Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of total loans | 100.00% | 100.00% | |||
Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | $ 130,258,000,000 | $ 127,261,000,000 | |||
30-59 Days Past Due | 90,000,000 | 107,000,000 | |||
60-89 Days Past Due | 56,000,000 | 27,000,000 | |||
90 Days Or More Past Due | 36,000,000 | 37,000,000 | |||
Total Past Due | 182,000,000 | 171,000,000 | |||
Nonperforming loans | 520,000,000 | 626,000,000 | |||
Purchased impaired loans | 204,000,000 | 310,000,000 | 405,000,000 | ||
Total loans | 131,164,000,000 | 128,368,000,000 | 124,063,000,000 | ||
Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 66,487,000,000 | 67,973,000,000 | |||
30-59 Days Past Due | 418,000,000 | 475,000,000 | |||
60-89 Days Past Due | 209,000,000 | 232,000,000 | |||
90 Days Or More Past Due | 854,000,000 | 1,068,000,000 | |||
Total Past Due | 1,481,000,000 | 1,775,000,000 | |||
Nonperforming loans | 1,657,000,000 | 1,884,000,000 | |||
Fair Value Option Nonaccrual Loans | 231,000,000 | 269,000,000 | |||
Purchased impaired loans | 3,963,000,000 | 4,548,000,000 | 4,762,000,000 | ||
Total loans | 73,819,000,000 | 76,449,000,000 | $ 76,809,000,000 | ||
Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 96,952,000,000 | 96,922,000,000 | |||
30-59 Days Past Due | 56,000,000 | 73,000,000 | |||
60-89 Days Past Due | 39,000,000 | 24,000,000 | |||
90 Days Or More Past Due | 36,000,000 | 37,000,000 | |||
Total Past Due | 131,000,000 | 134,000,000 | |||
Nonperforming loans | 301,000,000 | 290,000,000 | |||
Purchased impaired loans | 43,000,000 | 74,000,000 | |||
Total loans | 97,427,000,000 | 97,420,000,000 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 25,671,000,000 | 22,667,000,000 | |||
30-59 Days Past Due | 32,000,000 | 23,000,000 | |||
60-89 Days Past Due | 17,000,000 | 2,000,000 | |||
Total Past Due | 49,000,000 | 25,000,000 | |||
Nonperforming loans | 212,000,000 | 334,000,000 | |||
Purchased impaired loans | 161,000,000 | 236,000,000 | |||
Total loans | 26,093,000,000 | 23,262,000,000 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 7,635,000,000 | 7,672,000,000 | |||
30-59 Days Past Due | 2,000,000 | 11,000,000 | |||
60-89 Days Past Due | 1,000,000 | ||||
Total Past Due | 2,000,000 | 12,000,000 | |||
Nonperforming loans | 7,000,000 | 2,000,000 | |||
Total loans | 7,644,000,000 | 7,686,000,000 | |||
Home Equity [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 30,124,000,000 | 31,474,000,000 | |||
30-59 Days Past Due | 69,000,000 | 70,000,000 | |||
60-89 Days Past Due | 31,000,000 | 32,000,000 | |||
Total Past Due | 100,000,000 | 102,000,000 | |||
Nonperforming loans | 1,029,000,000 | 1,112,000,000 | |||
Purchased impaired loans | 1,753,000,000 | 1,989,000,000 | |||
Total loans | 33,006,000,000 | 34,677,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 10,691,000,000 | 9,900,000,000 | |||
30-59 Days Past Due | 146,000,000 | 163,000,000 | |||
60-89 Days Past Due | 58,000,000 | 68,000,000 | |||
90 Days Or More Past Due | 585,000,000 | 742,000,000 | |||
Total Past Due | 789,000,000 | 973,000,000 | |||
Nonperforming loans | 571,000,000 | 706,000,000 | |||
Fair Value Option Nonaccrual Loans | 231,000,000 | 269,000,000 | |||
Purchased impaired loans | 2,210,000,000 | 2,559,000,000 | |||
Total loans | 14,492,000,000 | 14,407,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 62,000,000 | 68,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 40,000,000 | 43,000,000 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 558,000,000 | 719,000,000 | |||
Credit Card [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total loans | 4,600,000,000 | 4,612,000,000 | |||
Credit Card [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 4,523,000,000 | 4,528,000,000 | |||
30-59 Days Past Due | 26,000,000 | 28,000,000 | |||
60-89 Days Past Due | 18,000,000 | 20,000,000 | |||
90 Days Or More Past Due | 30,000,000 | 33,000,000 | |||
Total Past Due | 74,000,000 | 81,000,000 | |||
Nonperforming loans | 3,000,000 | 3,000,000 | |||
Total loans | 4,600,000,000 | 4,612,000,000 | |||
Other Consumer [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total loans | 21,721,000,000 | 22,753,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Current or Less Than 30 Days Past Due | 21,149,000,000 | 22,071,000,000 | |||
30-59 Days Past Due | 177,000,000 | 214,000,000 | |||
60-89 Days Past Due | 102,000,000 | 112,000,000 | |||
90 Days Or More Past Due | 239,000,000 | 293,000,000 | |||
Total Past Due | 518,000,000 | 619,000,000 | |||
Nonperforming loans | 54,000,000 | 63,000,000 | |||
Total loans | 21,721,000,000 | 22,753,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 119,000,000 | 152,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | 80,000,000 | 93,000,000 | |||
Other Consumer [Member] | Total consumer lending [Member] | 90 Days Or More Past Due [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Government insured or guaranteed loans included in past due loans | $ 224,000,000 | $ 277,000,000 | |||
[1] | Amounts represent items for which we have elected the fair value option. | ||||
[2] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Asset Quality (Nonperforming As
Asset Quality (Nonperforming Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Nonperforming loans | $ 2,177 | $ 2,510 |
OREO and Foreclosed Assets | 313 | 370 |
Total nonperforming assets | $ 2,490 | $ 2,880 |
Nonperforming loans to total loans | 1.06% | 1.23% |
Nonperforming assets to total loans, OREO and foreclosed assets | 1.21% | 1.40% |
Nonperforming assets to total assets | 0.69% | 0.83% |
Total commercial lending [Member] | ||
Nonperforming loans | $ 520 | $ 626 |
Total consumer lending [Member] | ||
Nonperforming loans | 1,657 | 1,884 |
Total consumer lending [Member] | Foreclosure in process [Member] | ||
Nonperforming loans | 600 | 800 |
Total consumer lending [Member] | Foreclosure in process [Member] | Government Insured Or Guaranteed [Member] | ||
Nonperforming loans | 300 | 500 |
OREO [Member] | ||
OREO and Foreclosed Assets | 293 | 351 |
Foreclosed and Other Assets [Member] | ||
OREO and Foreclosed Assets | $ 20 | $ 19 |
Asset Quality (Commercial Lendi
Asset Quality (Commercial Lending Asset Quality Indicators) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | $ 4,167,000,000 | $ 4,858,000,000 | $ 5,167,000,000 | ||
Total Loans | 204,983,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | 200,872,000,000 |
Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 204,000,000 | 310,000,000 | 405,000,000 | ||
Total Loans | 131,164,000,000 | 128,368,000,000 | $ 124,063,000,000 | ||
Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 97,384,000,000 | 97,347,000,000 | |||
Purchased impaired loans | 43,000,000 | 74,000,000 | |||
Total Loans | 97,427,000,000 | 97,420,000,000 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 25,932,000,000 | 23,025,000,000 | |||
Purchased impaired loans | 161,000,000 | 236,000,000 | |||
Total Loans | 26,093,000,000 | 23,262,000,000 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,644,000,000 | 7,686,000,000 | |||
Total Loans | 7,644,000,000 | 7,686,000,000 | |||
Pass [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | 124,933,000,000 | 122,468,000,000 | |||
Pass [Member] | Commercial [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 92,334,000,000 | 92,884,000,000 | |||
Pass [Member] | Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 25,224,000,000 | 22,066,000,000 | |||
Pass [Member] | Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,375,000,000 | 7,518,000,000 | |||
Special Mention [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 7,000,000 | 4,000,000 | |||
Total Loans | 2,256,000,000 | 2,346,000,000 | |||
Special Mention [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 1,971,000,000 | 1,984,000,000 | |||
Special Mention [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 203,000,000 | 285,000,000 | |||
Special Mention [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 75,000,000 | 73,000,000 | |||
Substandard [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 164,000,000 | 280,000,000 | |||
Total Loans | 3,793,000,000 | 3,436,000,000 | |||
Substandard [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 2,962,000,000 | 2,424,000,000 | |||
Substandard [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 478,000,000 | 639,000,000 | |||
Substandard [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 189,000,000 | 93,000,000 | |||
Doubtful [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 33,000,000 | 26,000,000 | |||
Total Loans | 182,000,000 | 118,000,000 | |||
Doubtful [Member] | Commercial [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 117,000,000 | 55,000,000 | |||
Doubtful [Member] | Commercial Real Estate [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 27,000,000 | 35,000,000 | |||
Doubtful [Member] | Equipment Lease Financing [Member] | Criticized Commercial Loans [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | $ 5,000,000 | $ 2,000,000 | |||
[1] | Amounts represent items for which we have elected the fair value option. | ||||
[2] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Asset Quality (Home Equity and
Asset Quality (Home Equity and Residential Real Estate Balances) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased Impaired Loans - Outstanding Balance | $ 4,150,000,000 | $ 5,007,000,000 | |||
Total loans | 204,983,000,000 | [1],[2] | 204,817,000,000 | [1],[2] | $ 200,872,000,000 |
Total home equity and residential real estate loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 42,582,000,000 | 43,348,000,000 | |||
Purchased Impaired Loans - Outstanding Balance | 3,853,000,000 | 4,541,000,000 | |||
Government insured or guaranteed residential real estate mortgages | 953,000,000 | 1,188,000,000 | |||
Purchase accounting adjustments - purchased impaired loans | 110,000,000 | 7,000,000 | |||
Total loans | $ 47,498,000,000 | $ 49,084,000,000 | |||
[1] | Amounts represent items for which we have elected the fair value option. | ||||
[2] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Asset Quality (Consumer Real Es
Asset Quality (Consumer Real Estate Secured Asset Quality Indicators) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $ 4,150,000,000 | $ 5,007,000,000 | |
Purchased impaired loans | $ 4,167,000,000 | $ 4,858,000,000 | $ 5,167,000,000 |
New Jersey [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 15.00% | 14.00% | |
Pennsylvania [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 13.00% | 12.00% | |
Ohio [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 11.00% | 12.00% | |
Percentage Of Purchased Impaired Loans | 9.00% | 8.00% | |
California [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Purchased Impaired Loans | 16.00% | 17.00% | |
Illinois [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 11.00% | 12.00% | |
Percentage Of Purchased Impaired Loans | 11.00% | 11.00% | |
Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 7.00% | 8.00% | |
Percentage Of Purchased Impaired Loans | 14.00% | 15.00% | |
Maryland [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 7.00% | 6.00% | |
Michigan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 5.00% | 5.00% | |
Percentage Of Purchased Impaired Loans | 5.00% | 5.00% | |
North Carolina [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 4.00% | ||
Percentage Of Purchased Impaired Loans | 7.00% | 7.00% | |
All Other States Maximum [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 4.00% | 4.00% | |
Percentage Of Purchased Impaired Loans | 4.00% | 4.00% | |
All Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage Of Higher Risk Loans | 31.00% | 28.00% | |
Percentage Of Purchased Impaired Loans | 38.00% | 37.00% | |
Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | $ 17,407,000,000 | $ 17,569,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 263,000,000 | 282,000,000 | |
Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 13,846,000,000 | 15,119,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,600,000,000 | 1,863,000,000 | |
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 11,329,000,000 | 10,660,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,990,000,000 | 2,396,000,000 | |
Government insured or guaranteed residential real estate mortgages | 953,000,000 | 1,188,000,000 | |
Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 42,582,000,000 | 43,348,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 3,853,000,000 | 4,541,000,000 | |
Government insured or guaranteed residential real estate mortgages | 953,000,000 | 1,188,000,000 | |
Purchased impaired loans | 3,963,000,000 | 4,548,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 300,000,000 | 333,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 8,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,050,000,000 | 1,399,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 195,000,000 | 243,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 315,000,000 | 360,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 182,000,000 | 276,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,665,000,000 | 2,092,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 385,000,000 | 527,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 44,000,000 | 57,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 9,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 208,000,000 | 273,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 92,000,000 | 125,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 72,000,000 | 92,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 89,000,000 | 144,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 324,000,000 | 422,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 189,000,000 | 278,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | 1,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,000,000 | 9,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 8,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 5,000,000 | 8,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 6,000,000 | 6,000,000 | |
LTV greater than or equal to 125% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 13,000,000 | 18,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 13,000,000 | 14,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 703,000,000 | 839,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 12,000,000 | 15,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,892,000,000 | 2,190,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 355,000,000 | 426,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 607,000,000 | 772,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 201,000,000 | 272,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,202,000,000 | 3,801,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 568,000,000 | 713,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 98,000,000 | 118,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 10,000,000 | 12,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 317,000,000 | 383,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 158,000,000 | 194,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 113,000,000 | 153,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 131,000,000 | 200,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 528,000,000 | 654,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 299,000,000 | 406,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,000,000 | 1,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 6,000,000 | 5,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 11,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 6,000,000 | 12,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 5,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 14,000,000 | 18,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 16,000,000 | 16,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 780,000,000 | 891,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 12,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,569,000,000 | 1,703,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 170,000,000 | 207,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 660,000,000 | 755,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 137,000,000 | 186,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,009,000,000 | 3,349,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 316,000,000 | 405,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 101,000,000 | 103,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 9,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 228,000,000 | 271,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 82,000,000 | 93,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 96,000,000 | 118,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 81,000,000 | 123,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 425,000,000 | 492,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 170,000,000 | 225,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | 2,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,000,000 | 3,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 5,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 8,000,000 | 5,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 3,000,000 | 3,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,000,000 | 10,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 8,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 14,069,000,000 | 13,878,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 110,000,000 | 102,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,650,000,000 | 7,874,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 337,000,000 | 339,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 8,770,000,000 | 7,703,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 649,000,000 | 626,000,000 | |
LTV less than 90% and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 30,489,000,000 | 29,455,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,096,000,000 | 1,067,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,276,000,000 | 1,319,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 94,000,000 | 109,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 899,000,000 | 995,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 179,000,000 | 200,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 576,000,000 | 573,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 461,000,000 | 515,000,000 | |
LTV less than 90% and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,751,000,000 | 2,887,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 734,000,000 | 824,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 32,000,000 | 27,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Home Equity [Member] | 2nd Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 17,000,000 | 14,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 12,000,000 | 12,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 101,000,000 | 109,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 28,000,000 | 15,000,000 | |
LTV less than 90% and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 150,000,000 | 150,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 41,000,000 | 28,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 10,000,000 | 14,000,000 | |
Missing LTV and updated FICO scores | FICO greater than 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 11,000,000 | 15,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Home Equity [Member] | 1st Liens | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 3,000,000 | 4,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 10,000,000 | |
Missing LTV and updated FICO scores | FICO less than or equal to 660 | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $ 8,000,000 | 14,000,000 | |
Missing LTV and updated FICO scores | Missing FICO | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | ||
Missing LTV and updated FICO scores | Missing FICO | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $ 1,000,000 |
Asset Quality (Credit Card and
Asset Quality (Credit Card and Other Consumer Loan Classes Asset Quality Indicators) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | ||
Total Loans | $ 204,983 | [1],[2] | $ 204,817 | [1],[2] | $ 200,872 |
Credit Card [Member] | |||||
Total Loans | $ 4,600 | $ 4,612 | |||
Weighted-average updated FICO score | 733 | 732 | |||
Higher Risk Loans | $ 31 | $ 35 | |||
Other Consumer [Member] | |||||
Total Loans | $ 21,721 | $ 22,753 | |||
Weighted-average updated FICO score | 745 | 744 | |||
FICO score greater than 719 | Credit Card [Member] | |||||
Total Loans | $ 2,729 | $ 2,717 | |||
% of Total Loans Using FICO Credit Metric | 59.00% | 59.00% | |||
FICO score greater than 719 | Other Consumer [Member] | |||||
Total Loans | $ 9,396 | $ 9,156 | |||
% of Total Loans Using FICO Credit Metric | 65.00% | 64.00% | |||
FICO score of 650 to 719 [Member] | Credit Card [Member] | |||||
Total Loans | $ 1,295 | $ 1,288 | |||
% of Total Loans Using FICO Credit Metric | 28.00% | 28.00% | |||
FICO score of 650 to 719 [Member] | Other Consumer [Member] | |||||
Total Loans | $ 3,501 | $ 3,459 | |||
% of Total Loans Using FICO Credit Metric | 24.00% | 24.00% | |||
FICO score of 620 to 649 [Member] | Credit Card [Member] | |||||
Total Loans | $ 197 | $ 203 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
FICO score of 620 to 649 [Member] | Other Consumer [Member] | |||||
Total Loans | $ 509 | $ 528 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
FICO score of less Than 620 [Member] | Credit Card [Member] | |||||
Total Loans | $ 211 | $ 239 | |||
% of Total Loans Using FICO Credit Metric | 5.00% | 5.00% | |||
FICO score of less Than 620 [Member] | Other Consumer [Member] | |||||
Total Loans | $ 580 | $ 619 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
No FICO score available or required [Member] | Credit Card [Member] | |||||
Total Loans | $ 168 | $ 165 | |||
% of Total Loans Using FICO Credit Metric | 4.00% | 4.00% | |||
No FICO score available or required [Member] | Other Consumer [Member] | |||||
Total Loans | $ 423 | $ 557 | |||
% of Total Loans Using FICO Credit Metric | 3.00% | 4.00% | |||
Total Loans Using FICO Credit Metric [Member] | Credit Card [Member] | |||||
Total Loans | $ 4,600 | $ 4,612 | |||
% of Total Loans Using FICO Credit Metric | 100.00% | 100.00% | |||
Total Loans Using FICO Credit Metric [Member] | Other Consumer [Member] | |||||
Total Loans | $ 14,409 | $ 14,319 | |||
% of Total Loans Using FICO Credit Metric | 100.00% | 100.00% | |||
Consumer loans using other internal credit metrics [Member] | Other Consumer [Member] | |||||
Total Loans | $ 7,312 | $ 8,434 | |||
Ohio [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 17.00% | 17.00% | |||
Pennsylvania [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 16.00% | 16.00% | |||
Michigan [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 9.00% | 9.00% | |||
New Jersey [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 8.00% | 7.00% | |||
Florida [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 7.00% | 6.00% | |||
Illinois [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 7.00% | 7.00% | |||
Indiana [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 5.00% | 6.00% | |||
Maryland [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 5.00% | ||||
North Carolina [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 4.00% | 4.00% | |||
All Other States [Member] | |||||
Percentage Of Higher Risk Credit Card Loans | 4.00% | 4.00% | |||
[1] | Amounts represent items for which we have elected the fair value option. | ||||
[2] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). |
Asset Quality (Summary of TDRs)
Asset Quality (Summary of TDRs) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Troubled debt restructurings (TDRs) | $ 2,368 | $ 2,583 |
Nonperforming [Member] | ||
Troubled debt restructurings (TDRs) | 1,171 | 1,370 |
Accruing [Member] | ||
Troubled debt restructurings (TDRs) | 1,085 | 1,083 |
Credit Card [Member] | ||
Troubled debt restructurings (TDRs) | 112 | 130 |
Total commercial lending [Member] | ||
Troubled debt restructurings (TDRs) | 420 | 542 |
Total consumer lending [Member] | ||
Troubled debt restructurings (TDRs) | $ 1,948 | $ 2,041 |
Asset Quality (Financial Impact
Asset Quality (Financial Impact and TDRs by Concession Type) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)loans | Sep. 30, 2014USD ($)loans | Sep. 30, 2015USD ($)loans | Sep. 30, 2014USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 3,053 | 3,322 | 8,514 | 8,956 |
Pre-TDR Recorded Investment | $ 175 | $ 206 | $ 435 | $ 544 |
Post-TDR Recorded Investment | 152 | 180 | 383 | 488 |
Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 15 | 4 | 20 | 26 |
Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 62 | 44 | 154 | 120 |
Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 75 | $ 132 | $ 209 | $ 342 |
Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 39 | 54 | 114 | 163 |
Pre-TDR Recorded Investment | $ 80 | $ 102 | $ 185 | $ 272 |
Post-TDR Recorded Investment | 62 | 81 | 144 | 232 |
Total commercial lending [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 15 | 4 | 20 | 26 |
Total commercial lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 9 | 4 | 17 | |
Total commercial lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 47 | $ 68 | $ 120 | $ 189 |
Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 3,014 | 3,268 | 8,400 | 8,793 |
Pre-TDR Recorded Investment | $ 95 | $ 104 | $ 250 | $ 272 |
Post-TDR Recorded Investment | 90 | 99 | 239 | 256 |
Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 62 | 35 | 150 | 103 |
Total consumer lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 28 | $ 64 | $ 89 | $ 153 |
Commercial [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 33 | 35 | 90 | 98 |
Pre-TDR Recorded Investment | $ 63 | $ 39 | $ 154 | $ 128 |
Post-TDR Recorded Investment | 52 | 24 | 129 | 109 |
Commercial [Member] | Total commercial lending [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 9 | 2 | 14 | 5 |
Commercial [Member] | Total commercial lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 8 | 3 | 12 | |
Commercial [Member] | Total commercial lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 43 | $ 14 | $ 112 | $ 92 |
Commercial Real Estate [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 6 | 19 | 23 | 65 |
Pre-TDR Recorded Investment | $ 17 | $ 63 | $ 31 | $ 144 |
Post-TDR Recorded Investment | 10 | 57 | 15 | 123 |
Commercial Real Estate [Member] | Total commercial lending [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 6 | 2 | 6 | 21 |
Commercial Real Estate [Member] | Total commercial lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 1 | 1 | 5 | |
Commercial Real Estate [Member] | Total commercial lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 4 | $ 54 | $ 8 | $ 97 |
Equipment Lease Financing [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 1 | |||
Pre-TDR Recorded Investment | $ 0 | |||
Post-TDR Recorded Investment | $ 0 | |||
Home Equity [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 788 | 942 | 2,318 | 2,334 |
Pre-TDR Recorded Investment | $ 42 | $ 66 | $ 144 | $ 158 |
Post-TDR Recorded Investment | 40 | 64 | 137 | 149 |
Home Equity [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 27 | 12 | 77 | 41 |
Home Equity [Member] | Total consumer lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 13 | $ 52 | $ 60 | $ 108 |
Residential Real Estate [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 329 | 159 | 477 | 439 |
Pre-TDR Recorded Investment | $ 35 | $ 18 | $ 55 | $ 58 |
Post-TDR Recorded Investment | 34 | 16 | 55 | 56 |
Residential Real Estate [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 21 | 8 | 32 | 21 |
Residential Real Estate [Member] | Total consumer lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 13 | $ 8 | $ 23 | $ 35 |
Credit Card [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 1,651 | 1,860 | 4,855 | 5,226 |
Pre-TDR Recorded Investment | $ 14 | $ 15 | $ 40 | $ 43 |
Post-TDR Recorded Investment | 14 | 15 | 39 | 41 |
Credit Card [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 14 | $ 15 | $ 39 | $ 41 |
Other Consumer [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 246 | 307 | 750 | 794 |
Pre-TDR Recorded Investment | $ 4 | $ 5 | $ 11 | $ 13 |
Post-TDR Recorded Investment | 2 | 4 | 8 | 10 |
Other Consumer [Member] | Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 2 | |||
Other Consumer [Member] | Total consumer lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 2 | $ 4 | $ 6 | $ 10 |
Asset Quality (TDRs that were M
Asset Quality (TDRs that were Modified in the Past Twelve Months which have Subsequently Defaulted) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 1,600 | 1,861 | 2,796 | 3,014 |
Recorded Investment - Subsequently defaulted TDRs | $ 29 | $ 39 | $ 69 | $ 125 |
Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 10 | 14 | 32 | 68 |
Recorded Investment - Subsequently defaulted TDRs | $ 5 | $ 15 | $ 18 | $ 68 |
Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 1,590 | 1,847 | 2,764 | 2,946 |
Recorded Investment - Subsequently defaulted TDRs | $ 24 | $ 24 | $ 51 | $ 57 |
Commercial [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 7 | 1 | 20 | 34 |
Recorded Investment - Subsequently defaulted TDRs | $ 4 | $ 1 | $ 8 | $ 23 |
Commercial Real Estate [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 3 | 13 | 11 | 34 |
Recorded Investment - Subsequently defaulted TDRs | $ 1 | $ 14 | $ 10 | $ 45 |
Equipment Lease Financing [Member] | Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 1 | |||
Recorded Investment - Subsequently defaulted TDRs | $ 0 | |||
Home Equity [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 170 | 99 | 338 | 315 |
Recorded Investment - Subsequently defaulted TDRs | $ 8 | $ 4 | $ 17 | $ 17 |
Residential Real Estate [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 33 | 52 | 104 | 128 |
Recorded Investment - Subsequently defaulted TDRs | $ 5 | $ 6 | $ 15 | $ 20 |
Credit Card [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 1,337 | 1,665 | 2,197 | 2,393 |
Recorded Investment - Subsequently defaulted TDRs | $ 11 | $ 14 | $ 18 | $ 19 |
Other Consumer [Member] | Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts - Subsequently defaulted TDRs | contracts | 50 | 31 | 125 | 110 |
Recorded Investment - Subsequently defaulted TDRs | $ 1 | $ 1 |
Asset Quality (Impaired Loans)
Asset Quality (Impaired Loans) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | $ 2,277 | $ 2,462 | |
Unpaid principal balance - Impaired loans without an associated allowance | 1,208 | 1,102 | |
Unpaid principal balance - Total impaired loans | 3,485 | 3,564 | |
Recorded investment - Impaired loans with an associated allowance | 1,880 | 2,161 | |
Recorded investment - Impaired loans without an associated allowance | 779 | 731 | |
Recorded investment - Total impaired loans | 2,659 | 2,892 | |
Associated Allowance - Total impaired loans | 372 | 463 | |
Average recorded investment - Impaired loans with an associated allowance | 2,027 | 2,249 | |
Average recorded investment - Impaired loans without an associated allowance | 738 | 908 | |
Average recorded investment - Total impaired loans | 2,765 | 3,157 | |
Specific ALLL reserve for TDRs | 302 | 386 | $ 408 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 379 | 432 | |
Unpaid principal balance - Impaired loans without an associated allowance | 166 | 106 | |
Recorded investment - Impaired loans with an associated allowance | 280 | 318 | |
Recorded investment - Impaired loans without an associated allowance | 99 | 84 | |
Associated Allowance - Total impaired loans | 73 | 74 | |
Average recorded investment - Impaired loans with an associated allowance | 299 | 360 | |
Average recorded investment - Impaired loans without an associated allowance | 79 | 133 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 314 | 418 | |
Unpaid principal balance - Impaired loans without an associated allowance | 219 | 249 | |
Recorded investment - Impaired loans with an associated allowance | 161 | 262 | |
Recorded investment - Impaired loans without an associated allowance | 171 | 187 | |
Associated Allowance - Total impaired loans | 36 | 65 | |
Average recorded investment - Impaired loans with an associated allowance | 213 | 283 | |
Average recorded investment - Impaired loans without an associated allowance | 171 | 276 | |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 999 | 1,021 | |
Unpaid principal balance - Impaired loans without an associated allowance | 430 | 403 | |
Recorded investment - Impaired loans with an associated allowance | 967 | 984 | |
Recorded investment - Impaired loans without an associated allowance | 149 | 145 | |
Associated Allowance - Total impaired loans | 188 | 215 | |
Average recorded investment - Impaired loans with an associated allowance | 979 | 986 | |
Average recorded investment - Impaired loans without an associated allowance | 146 | 134 | |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 442 | 397 | |
Unpaid principal balance - Impaired loans without an associated allowance | 369 | 344 | |
Recorded investment - Impaired loans with an associated allowance | 333 | 420 | |
Recorded investment - Impaired loans without an associated allowance | 352 | 315 | |
Associated Allowance - Total impaired loans | 49 | 75 | |
Average recorded investment - Impaired loans with an associated allowance | 382 | 422 | |
Average recorded investment - Impaired loans without an associated allowance | 334 | 365 | |
Credit Card [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 112 | 130 | |
Recorded investment - Impaired loans with an associated allowance | 112 | 130 | |
Associated Allowance - Total impaired loans | 25 | 32 | |
Average recorded investment - Impaired loans with an associated allowance | 121 | 147 | |
Other Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 31 | 64 | |
Unpaid principal balance - Impaired loans without an associated allowance | 24 | ||
Recorded investment - Impaired loans with an associated allowance | 27 | 47 | |
Recorded investment - Impaired loans without an associated allowance | 8 | ||
Associated Allowance - Total impaired loans | 1 | 2 | |
Average recorded investment - Impaired loans with an associated allowance | 33 | $ 51 | |
Average recorded investment - Impaired loans without an associated allowance | $ 8 |
Purchased Loans (Narrative) (De
Purchased Loans (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Provision for credit losses (benefit) | $ 81,000,000 | $ 55,000,000 | $ 181,000,000 | $ 221,000,000 | |
Charge-offs | 589,000,000 | 786,000,000 | |||
Specific allowance for loan and lease losses associated with purchased impaired loans | 372,000,000 | 372,000,000 | $ 463,000,000 | ||
Purchased impaired loans | 4,167,000,000 | $ 5,167,000,000 | 4,167,000,000 | 5,167,000,000 | 4,858,000,000 |
Purchased Impaired Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Provision for credit losses (benefit) | (47,000,000) | (86,000,000) | |||
Charge-offs | 7,000,000 | $ 28,000,000 | |||
Net carrying value of the net accumulation of realized gains and losses on pooled loan recorded investments | 0 | 0 | |||
Impaired Loans With Associated Allowance [Member] | Purchased Impaired Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Specific allowance for loan and lease losses associated with purchased impaired loans | $ 800,000,000 | $ 800,000,000 | $ 900,000,000 |
Purchased Loans (Purchase Loan
Purchased Loans (Purchase Loan Balances) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $ 4,150,000,000 | $ 5,007,000,000 | |
Purchased Impaired Loans - Recorded Investment | 4,167,000,000 | 4,858,000,000 | $ 5,167,000,000 |
Purchased Impaired Loans - Carrying Value | 3,349,000,000 | 3,986,000,000 | |
Total commercial lending [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 296,000,000 | 466,000,000 | |
Purchased Impaired Loans - Recorded Investment | 204,000,000 | 310,000,000 | 405,000,000 |
Purchased Impaired Loans - Carrying Value | 137,000,000 | 231,000,000 | |
Total commercial lending [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 112,000,000 | 159,000,000 | |
Purchased Impaired Loans - Recorded Investment | 43,000,000 | 74,000,000 | |
Purchased Impaired Loans - Carrying Value | 29,000,000 | 57,000,000 | |
Total commercial lending [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 184,000,000 | 307,000,000 | |
Purchased Impaired Loans - Recorded Investment | 161,000,000 | 236,000,000 | |
Purchased Impaired Loans - Carrying Value | 108,000,000 | 174,000,000 | |
Total consumer lending [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 3,854,000,000 | 4,541,000,000 | |
Purchased Impaired Loans - Recorded Investment | 3,963,000,000 | 4,548,000,000 | $ 4,762,000,000 |
Purchased Impaired Loans - Carrying Value | 3,212,000,000 | 3,755,000,000 | |
Total consumer lending [Member] | Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,864,000,000 | 2,145,000,000 | |
Purchased Impaired Loans - Recorded Investment | 1,753,000,000 | 1,989,000,000 | |
Purchased Impaired Loans - Carrying Value | 1,468,000,000 | 1,661,000,000 | |
Total consumer lending [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,990,000,000 | 2,396,000,000 | |
Purchased Impaired Loans - Recorded Investment | 2,210,000,000 | 2,559,000,000 | |
Purchased Impaired Loans - Carrying Value | $ 1,744,000,000 | $ 2,094,000,000 |
Purchased Loans (Accretable Yie
Purchased Loans (Accretable Yield) (Details) - Purchased Impaired Loans [Member] - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Beginning Balance | $ 1,558,000,000 | $ 2,055,000,000 |
Accretion (including excess cash recoveries) | (359,000,000) | (449,000,000) |
Net reclassifications to accretable from non-accretable | 218,000,000 | 237,000,000 |
Disposals | (66,000,000) | (24,000,000) |
Ending Balance | $ 1,351,000,000 | $ 1,819,000,000 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Net reclassifications from nonaccretable - percentage | 66.00% | 68.00% |
Allowances for Loan and Lease59
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit (Rollforward of Allowance For Loan and Lease Losses and Associated Loan Data) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Beginning Balance | $ 3,331,000,000 | [1] | $ 3,609,000,000 | ||||||
Charge-offs | (589,000,000) | (786,000,000) | |||||||
Recoveries | 323,000,000 | 373,000,000 | |||||||
Net charge-offs | (266,000,000) | (413,000,000) | |||||||
Provision For Credit Losses | $ 81,000,000 | $ 55,000,000 | 181,000,000 | 221,000,000 | |||||
Net change in allowance for unfunded loan commitments and letters of credit | (7,000,000) | (9,000,000) | |||||||
Other | (2,000,000) | (2,000,000) | |||||||
Ending Balance | [1] | 3,237,000,000 | 3,406,000,000 | 3,237,000,000 | 3,406,000,000 | ||||
TDRs individually evaluated for impairment - associated allowance | 302,000,000 | 408,000,000 | 302,000,000 | 408,000,000 | $ 386,000,000 | ||||
Other loans individually evaluated for impairment - associated allowance | 70,000,000 | 98,000,000 | 70,000,000 | 98,000,000 | |||||
Loans collectively evaluated for impairment - associated allowance | 2,047,000,000 | 2,009,000,000 | 2,047,000,000 | 2,009,000,000 | |||||
Purchased impaired loans - associated allowance | 818,000,000 | 891,000,000 | 818,000,000 | 891,000,000 | |||||
TDRs individually evaluated for impairment | 2,368,000,000 | 2,615,000,000 | 2,368,000,000 | 2,615,000,000 | |||||
Other loans individually evaluated for impairment | 291,000,000 | 402,000,000 | 291,000,000 | 402,000,000 | |||||
Loans collectively evaluated for impairment | 197,242,000,000 | 191,671,000,000 | 197,242,000,000 | 191,671,000,000 | |||||
Fair value option loans | 915,000,000 | 1,017,000,000 | 915,000,000 | 1,017,000,000 | |||||
Purchased impaired loans | 4,167,000,000 | 5,167,000,000 | 4,167,000,000 | 5,167,000,000 | 4,858,000,000 | ||||
Total loans | $ 204,983,000,000 | [1],[2] | $ 200,872,000,000 | $ 204,983,000,000 | [1],[2] | $ 200,872,000,000 | 204,817,000,000 | [1],[2] | |
Portfolio segment ALLL as a percentage of total ALLL | 100.00% | 100.00% | 100.00% | 100.00% | |||||
Ratio of the allowance for loan and lease losses to total loans | 1.58% | 1.70% | 1.58% | 1.70% | |||||
Evaluated for impairment based upon collateral values | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Loans collectively evaluated for impairment | $ 157,000,000 | $ 221,000,000 | $ 157,000,000 | $ 221,000,000 | |||||
Total commercial lending [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Beginning Balance | 1,571,000,000 | 1,547,000,000 | |||||||
Charge-offs | (176,000,000) | (286,000,000) | |||||||
Recoveries | 188,000,000 | 230,000,000 | |||||||
Net charge-offs | 12,000,000 | (56,000,000) | |||||||
Provision For Credit Losses | 48,000,000 | 89,000,000 | |||||||
Net change in allowance for unfunded loan commitments and letters of credit | (7,000,000) | (9,000,000) | |||||||
Other | (2,000,000) | (2,000,000) | |||||||
Ending Balance | 1,622,000,000 | 1,569,000,000 | 1,622,000,000 | 1,569,000,000 | |||||
TDRs individually evaluated for impairment - associated allowance | 39,000,000 | 26,000,000 | 39,000,000 | 26,000,000 | |||||
Other loans individually evaluated for impairment - associated allowance | 70,000,000 | 98,000,000 | 70,000,000 | 98,000,000 | |||||
Loans collectively evaluated for impairment - associated allowance | 1,446,000,000 | 1,349,000,000 | 1,446,000,000 | 1,349,000,000 | |||||
Purchased impaired loans - associated allowance | 67,000,000 | 96,000,000 | 67,000,000 | 96,000,000 | |||||
TDRs individually evaluated for impairment | 420,000,000 | 551,000,000 | 420,000,000 | 551,000,000 | |||||
Other loans individually evaluated for impairment | 291,000,000 | 402,000,000 | 291,000,000 | 402,000,000 | |||||
Loans collectively evaluated for impairment | 130,249,000,000 | 122,705,000,000 | 130,249,000,000 | 122,705,000,000 | |||||
Purchased impaired loans | 204,000,000 | 405,000,000 | 204,000,000 | 405,000,000 | 310,000,000 | ||||
Total loans | $ 131,164,000,000 | $ 124,063,000,000 | $ 131,164,000,000 | $ 124,063,000,000 | 128,368,000,000 | ||||
Portfolio segment ALLL as a percentage of total ALLL | 50.00% | 46.00% | 50.00% | 46.00% | |||||
Ratio of the allowance for loan and lease losses to total loans | 1.24% | 1.26% | 1.24% | 1.26% | |||||
Total consumer lending [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Beginning Balance | $ 1,760,000,000 | $ 2,062,000,000 | |||||||
Charge-offs | (413,000,000) | (500,000,000) | |||||||
Recoveries | 135,000,000 | 143,000,000 | |||||||
Net charge-offs | (278,000,000) | (357,000,000) | |||||||
Provision For Credit Losses | 133,000,000 | 132,000,000 | |||||||
Ending Balance | $ 1,615,000,000 | $ 1,837,000,000 | 1,615,000,000 | 1,837,000,000 | |||||
TDRs individually evaluated for impairment - associated allowance | 263,000,000 | 382,000,000 | 263,000,000 | 382,000,000 | |||||
Loans collectively evaluated for impairment - associated allowance | 601,000,000 | 660,000,000 | 601,000,000 | 660,000,000 | |||||
Purchased impaired loans - associated allowance | 751,000,000 | 795,000,000 | 751,000,000 | 795,000,000 | |||||
TDRs individually evaluated for impairment | 1,948,000,000 | 2,064,000,000 | 1,948,000,000 | 2,064,000,000 | |||||
Loans collectively evaluated for impairment | 66,993,000,000 | 68,966,000,000 | 66,993,000,000 | 68,966,000,000 | |||||
Fair value option loans | 915,000,000 | 1,017,000,000 | 915,000,000 | 1,017,000,000 | |||||
Purchased impaired loans | 3,963,000,000 | 4,762,000,000 | 3,963,000,000 | 4,762,000,000 | 4,548,000,000 | ||||
Total loans | $ 73,819,000,000 | $ 76,809,000,000 | $ 73,819,000,000 | $ 76,809,000,000 | $ 76,449,000,000 | ||||
Portfolio segment ALLL as a percentage of total ALLL | 50.00% | 54.00% | 50.00% | 54.00% | |||||
Ratio of the allowance for loan and lease losses to total loans | 2.19% | 2.39% | 2.19% | 2.39% | |||||
[1] | Amounts represent the assets or liabilities of consolidated variable interest entities (VIEs). | ||||||||
[2] | Amounts represent items for which we have elected the fair value option. |
Allowances for Loan and Lease60
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Allowance For Loan And Lease Losses [Abstract] | ||
Beginning balance | $ 259 | $ 242 |
Net change in allowance for unfunded loan commitments and letters of credit | 7 | 9 |
Ending balance | $ 266 | $ 251 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Investment Securities Disclosure [Abstract] | ||
Gain on derivatives used to hedge purchase of investment securities | $ 98,000,000 | |
Gross unrealized loss on debt securities held to maturity | 36,000,000 | $ 22,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position for less than 12 months | 18,000,000 | 1,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position greater than 12 months | 18,000,000 | 21,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position for less than 12 months - fair value | 3,200,000,000 | 134,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position greater than 12 months - fair value | 972,000,000 | $ 1,600,000,000 |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | $ 1,100,000,000 |
Investment Securities (Summary)
Investment Securities (Summary) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 52,722,000,000 | $ 43,181,000,000 |
Securities available for sale debt securities, unrealized gains | 1,137,000,000 | 1,262,000,000 |
Securities available for sale debt securities, unrealized losses | (196,000,000) | (208,000,000) |
Securities available for sale, fair value | 53,663,000,000 | 44,235,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 52,146,000,000 | 42,739,000,000 |
Securities available for sale debt securities, unrealized gains | 1,136,000,000 | 1,262,000,000 |
Securities available for sale debt securities, unrealized losses | (195,000,000) | (207,000,000) |
Securities available for sale, fair value | 53,087,000,000 | 43,794,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 14,403,000,000 | 11,588,000,000 |
Held-to-maturity securities, unrealized gains | 396,000,000 | 414,000,000 |
Held-to-maturity securities, unrealized losses | (34,000,000) | (18,000,000) |
Held-to-maturity securities, fair value | 14,765,000,000 | 11,984,000,000 |
AFS to HTM Transfer Net Unrealized Gains In AOCI | 104,000,000 | 125,000,000 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 8,113,000,000 | 5,237,000,000 |
Securities available for sale debt securities, unrealized gains | 197,000,000 | 186,000,000 |
Securities available for sale debt securities, unrealized losses | (19,000,000) | (1,000,000) |
Securities available for sale, fair value | 8,291,000,000 | 5,422,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 255,000,000 | 248,000,000 |
Held-to-maturity securities, unrealized gains | 47,000,000 | 44,000,000 |
Held-to-maturity securities, fair value | 302,000,000 | 292,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 24,141,000,000 | 17,646,000,000 |
Securities available for sale debt securities, unrealized gains | 402,000,000 | 438,000,000 |
Securities available for sale debt securities, unrealized losses | (34,000,000) | (41,000,000) |
Securities available for sale, fair value | 24,509,000,000 | 18,043,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 9,044,000,000 | 5,736,000,000 |
Held-to-maturity securities, unrealized gains | 155,000,000 | 166,000,000 |
Held-to-maturity securities, unrealized losses | (23,000,000) | (10,000,000) |
Held-to-maturity securities, fair value | 9,176,000,000 | 5,892,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 4,151,000,000 | 4,723,000,000 |
Securities available for sale debt securities, unrealized gains | 269,000,000 | 318,000,000 |
Securities available for sale debt securities, unrealized losses | (81,000,000) | (99,000,000) |
Securities available for sale, fair value | 4,339,000,000 | 4,942,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 241,000,000 | 270,000,000 |
Held-to-maturity securities, unrealized gains | 11,000,000 | 13,000,000 |
Held-to-maturity securities, fair value | 252,000,000 | 283,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 1,942,000,000 | 2,178,000,000 |
Securities available for sale debt securities, unrealized gains | 25,000,000 | 23,000,000 |
Securities available for sale debt securities, unrealized losses | (4,000,000) | (14,000,000) |
Securities available for sale, fair value | 1,963,000,000 | 2,187,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 1,135,000,000 | 1,200,000,000 |
Held-to-maturity securities, unrealized gains | 57,000,000 | 53,000,000 |
Held-to-maturity securities, fair value | 1,192,000,000 | 1,253,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 4,709,000,000 | 4,085,000,000 |
Securities available for sale debt securities, unrealized gains | 59,000,000 | 88,000,000 |
Securities available for sale debt securities, unrealized losses | (11,000,000) | (11,000,000) |
Securities available for sale, fair value | 4,757,000,000 | 4,162,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 768,000,000 | 1,010,000,000 |
Held-to-maturity securities, unrealized gains | 19,000,000 | 19,000,000 |
Held-to-maturity securities, fair value | 787,000,000 | 1,029,000,000 |
Asset Backed Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 5,195,000,000 | 5,141,000,000 |
Securities available for sale debt securities, unrealized gains | 72,000,000 | 78,000,000 |
Securities available for sale debt securities, unrealized losses | (33,000,000) | (32,000,000) |
Securities available for sale, fair value | 5,234,000,000 | 5,187,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 726,000,000 | 759,000,000 |
Held-to-maturity securities, unrealized gains | 0 | 2,000,000 |
Held-to-maturity securities, unrealized losses | (10,000,000) | (8,000,000) |
Held-to-maturity securities, fair value | 716,000,000 | 753,000,000 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 1,999,000,000 | 1,953,000,000 |
Securities available for sale debt securities, unrealized gains | 69,000,000 | 88,000,000 |
Securities available for sale debt securities, unrealized losses | (7,000,000) | (3,000,000) |
Securities available for sale, fair value | 2,061,000,000 | 2,038,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 1,973,000,000 | 2,042,000,000 |
Held-to-maturity securities, unrealized gains | 106,000,000 | 111,000,000 |
Held-to-maturity securities, fair value | 2,079,000,000 | 2,153,000,000 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 1,896,000,000 | 1,776,000,000 |
Securities available for sale debt securities, unrealized gains | 43,000,000 | 43,000,000 |
Securities available for sale debt securities, unrealized losses | (6,000,000) | (6,000,000) |
Securities available for sale, fair value | 1,933,000,000 | 1,813,000,000 |
Held to Maturity Securities, Amortized Cost, Total | 261,000,000 | 323,000,000 |
Held-to-maturity securities, unrealized gains | 1,000,000 | 6,000,000 |
Held-to-maturity securities, unrealized losses | (1,000,000) | |
Held-to-maturity securities, fair value | 261,000,000 | 329,000,000 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale equity securities, fair value | 576,000,000 | 441,000,000 |
Securities available for sale equity securities, unrealized losses | (1,000,000) | (1,000,000) |
Securities available for sale equity securities, unrealized gains | 1,000,000 | |
Securities available for sale equity securities, amortized cost | $ 576,000,000 | $ 442,000,000 |
Investment Securities (Gross Un
Investment Securities (Gross Unrealized Loss and Fair Value of Securities Available for Sale) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | $ (76,000,000) | $ (22,000,000) |
Unrealized loss position less than 12 months - fair value | 11,834,000,000 | 5,223,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (120,000,000) | (186,000,000) |
Unrealized loss position 12 months or more - fair value | 3,512,000,000 | 5,518,000,000 |
Total unrealized loss | (196,000,000) | (208,000,000) |
Total fair value | 15,346,000,000 | 10,741,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (76,000,000) | (22,000,000) |
Unrealized loss position less than 12 months - fair value | 11,834,000,000 | 5,223,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (119,000,000) | (185,000,000) |
Unrealized loss position 12 months or more - fair value | 3,496,000,000 | 5,503,000,000 |
Total unrealized loss | (195,000,000) | (207,000,000) |
Total fair value | 15,330,000,000 | 10,726,000,000 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (19,000,000) | (1,000,000) |
Unrealized loss position less than 12 months - fair value | 3,402,000,000 | 1,426,000,000 |
Total unrealized loss | (19,000,000) | (1,000,000) |
Total fair value | 3,402,000,000 | 1,426,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (17,000,000) | (4,000,000) |
Unrealized loss position less than 12 months - fair value | 3,516,000,000 | 644,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (17,000,000) | (37,000,000) |
Unrealized loss position 12 months or more - fair value | 963,000,000 | 1,963,000,000 |
Total unrealized loss | (34,000,000) | (41,000,000) |
Total fair value | 4,479,000,000 | 2,607,000,000 |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (4,000,000) | (5,000,000) |
Unrealized loss position less than 12 months - fair value | 290,000,000 | 276,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (77,000,000) | (94,000,000) |
Unrealized loss position 12 months or more - fair value | 1,412,000,000 | 1,487,000,000 |
Total unrealized loss | (81,000,000) | (99,000,000) |
Total fair value | 1,702,000,000 | 1,763,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (1,000,000) | (2,000,000) |
Unrealized loss position less than 12 months - fair value | 230,000,000 | 681,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (3,000,000) | (12,000,000) |
Unrealized loss position 12 months or more - fair value | 143,000,000 | 322,000,000 |
Total unrealized loss | (4,000,000) | (14,000,000) |
Total fair value | 373,000,000 | 1,003,000,000 |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (10,000,000) | (4,000,000) |
Unrealized loss position less than 12 months - fair value | 1,735,000,000 | 928,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (1,000,000) | (7,000,000) |
Unrealized loss position 12 months or more - fair value | 337,000,000 | 335,000,000 |
Total unrealized loss | (11,000,000) | (11,000,000) |
Total fair value | 2,072,000,000 | 1,263,000,000 |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (17,000,000) | (4,000,000) |
Unrealized loss position less than 12 months - fair value | 2,088,000,000 | 913,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (16,000,000) | (28,000,000) |
Unrealized loss position 12 months or more - fair value | 464,000,000 | 1,133,000,000 |
Total unrealized loss | (33,000,000) | (32,000,000) |
Total fair value | 2,552,000,000 | 2,046,000,000 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (5,000,000) | (500,000) |
Unrealized loss position less than 12 months - fair value | 363,000,000 | 41,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (2,000,000) | (3,000,000) |
Unrealized loss position 12 months or more - fair value | 43,000,000 | 77,000,000 |
Total unrealized loss | (7,000,000) | (3,000,000) |
Total fair value | 406,000,000 | 118,000,000 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (3,000,000) | (2,000,000) |
Unrealized loss position less than 12 months - fair value | 210,000,000 | 314,000,000 |
Unrealized loss position 12 months or more - unrealized loss | (3,000,000) | (4,000,000) |
Unrealized loss position 12 months or more - fair value | 134,000,000 | 186,000,000 |
Total unrealized loss | (6,000,000) | (6,000,000) |
Total fair value | 344,000,000 | 500,000,000 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position 12 months or more - unrealized loss | (1,000,000) | (1,000,000) |
Unrealized loss position 12 months or more - fair value | 16,000,000 | 15,000,000 |
Total unrealized loss | (1,000,000) | (1,000,000) |
Total fair value | $ 16,000,000 | $ 15,000,000 |
Investment Securities (Gains (L
Investment Securities (Gains (Losses) on Sales of Securities Available for Sale) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Investment Securities Disclosure [Abstract] | ||
Proceeds | $ 3,445,000,000 | $ 3,606,000,000 |
Gross Gains | 54,000,000 | 29,000,000 |
Gross Losses | (13,000,000) | (25,000,000) |
Net Gains | 41,000,000 | 4,000,000 |
Tax Expense | $ 14,000,000 | $ 1,000,000 |
Investment Securities (Contract
Investment Securities (Contractual Maturity of Debt Securities) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 52,722,000,000 | $ 43,181,000,000 |
Available-for-sale Securities, Fair value, Total | 53,663,000,000 | 44,235,000,000 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 804,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 4,471,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 9,053,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 37,818,000,000 | |
Securities available for sale, amortized cost | 52,146,000,000 | 42,739,000,000 |
Available-for-sale Securities, Fair value, 1 year or less | 810,000,000 | |
Available-for-sale Securities, Fair value, After 1 year through 5 years | 4,550,000,000 | |
Available-for-sale Securities, Fair value, After 5 years through 10 years | 9,185,000,000 | |
Available-for-sale Securities, Fair value, After 10 years | 38,542,000,000 | |
Available-for-sale Securities, Fair value, Total | $ 53,087,000,000 | 43,794,000,000 |
Weighted-average yield, GAAP basis, available for sale securities | 2.78% | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | $ 1,002,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 2,082,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 11,319,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 14,403,000,000 | 11,588,000,000 |
Held-to-maturity Securities, Fair Value, After 1 year through 5 years | 1,045,000,000 | |
Held-to-maturity Securities, Fair Value, After 5 years through 10 years | 2,147,000,000 | |
Held-to-maturity Securities, Fair Value, After 10 years | 11,573,000,000 | |
Held-to-maturity Securities, Debt Maturities, Fair Value, Total | $ 14,765,000,000 | $ 11,984,000,000 |
Weighted-average yield, GAAP basis, held to maturity securities | 3.44% | |
One Year or Less [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.82% | |
After One Year Through Five Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.25% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.50% | |
After Five Years Through Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.36% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.09% | |
After Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.95% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.50% | |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | $ 509,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,607,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 5,469,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 528,000,000 | |
Securities available for sale, amortized cost | 8,113,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 255,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 255,000,000 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 109,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 981,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 23,051,000,000 | |
Securities available for sale, amortized cost | 24,141,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 199,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 8,845,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 9,044,000,000 | |
Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 4,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 0 | |
Available for Sale Securities, Amortized Cost, After 10 years | 4,147,000,000 | |
Securities available for sale, amortized cost | 4,151,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 241,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 241,000,000 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 86,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 114,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 83,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,659,000,000 | |
Securities available for sale, amortized cost | 1,942,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 935,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 143,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 57,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 1,135,000,000 | |
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 50,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 28,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 8,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 4,623,000,000 | |
Securities available for sale, amortized cost | 4,709,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 6,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 762,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 768,000,000 | |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 14,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,257,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 1,826,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 2,098,000,000 | |
Securities available for sale, amortized cost | 5,195,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 5,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 591,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 130,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 726,000,000 | |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 3,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 122,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 328,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,546,000,000 | |
Securities available for sale, amortized cost | 1,999,000,000 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 56,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 888,000,000 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 1,029,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | 1,973,000,000 | |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 142,000,000 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 1,230,000,000 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 358,000,000 | |
Available for Sale Securities, Amortized Cost, After 10 years | 166,000,000 | |
Securities available for sale, amortized cost | 1,896,000,000 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 261,000,000 | |
Held to Maturity Securities, Amortized Cost, Total | $ 261,000,000 |
Investment Securities (Fair Val
Investment Securities (Fair Value of Securities Pledged and Accepted as Collateral) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Investment Securities Disclosure [Abstract] | ||
Pledged to others | $ 10,186,000,000 | $ 10,874,000,000 |
Permitted by contract or custom to sell or repledge | 1,167,000,000 | 1,658,000,000 |
Permitted amount repledged to others | $ 1,008,000,000 | $ 1,488,000,000 |
Fair Value (Recurring Fair Valu
Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | ||
Securities available for sale, fair value | $ 53,663,000,000 | $ 44,235,000,000 |
Trading securities | 1,901,000,000 | 2,353,000,000 |
Mortgage servicing rights | 1,467,000,000 | 1,351,000,000 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 53,087,000,000 | 43,794,000,000 |
Securities available for sale, fair value | 53,663,000,000 | 44,235,000,000 |
Total financial derivatives | 6,232,000,000 | 5,234,000,000 |
Trading securities | 1,901,000,000 | 2,353,000,000 |
Trading loans | 37,000,000 | 37,000,000 |
Total equity investments | 1,621,000,000 | 1,621,000,000 |
Total customer resale agreements | 139,000,000 | 155,000,000 |
Loans | 915,000,000 | 1,034,000,000 |
Other assets | 749,000,000 | 799,000,000 |
Total Assets | 68,612,000,000 | 58,973,000,000 |
Liabilities | ||
Total financial derivatives | 4,590,000,000 | 4,027,000,000 |
Total trading securities sold short | 1,042,000,000 | 1,490,000,000 |
Other borrowed funds | 136,000,000 | 273,000,000 |
Other liabilities | 15,000,000 | 9,000,000 |
Total liabilities | 5,783,000,000 | 5,799,000,000 |
Fair Value Additional Information [Abstract] | ||
Fair value net derivative assets | 3,619,000,000 | 2,587,000,000 |
Fair value net derivative liabilities | 1,870,000,000 | 1,383,000,000 |
Net unrealized gains (losses) | $ 43,000,000 | $ 54,000,000 |
Percentage of Trading securities - debt comprised of US Treasury and government agencies securities | 48.00% | 57.00% |
Percentage of Trading securities - debt comprised of residential mortgage-backed securities | 33.00% | 34.00% |
US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | $ 8,291,000,000 | $ 5,422,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 24,509,000,000 | 18,043,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,339,000,000 | 4,942,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,963,000,000 | 2,187,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,757,000,000 | 4,162,000,000 |
Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,234,000,000 | 5,187,000,000 |
State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,061,000,000 | 2,038,000,000 |
Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,933,000,000 | 1,813,000,000 |
Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 576,000,000 | 441,000,000 |
Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 5,870,000,000 | 4,918,000,000 |
Liabilities | ||
Total financial derivatives | 3,905,000,000 | 3,272,000,000 |
BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 312,000,000 | 375,000,000 |
Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 362,000,000 | 316,000,000 |
Liabilities | ||
Total financial derivatives | 373,000,000 | 380,000,000 |
Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,086,000,000 | 1,261,000,000 |
Mortgage servicing rights | 962,000,000 | 845,000,000 |
Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 802,000,000 | 893,000,000 |
Mortgage servicing rights | 505,000,000 | 506,000,000 |
Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 1,215,000,000 | 1,152,000,000 |
Fair Value Additional Information [Abstract] | ||
Unfunded contractual commitments | 26,000,000 | 28,000,000 |
Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 406,000,000 | 469,000,000 |
Fair Value Additional Information [Abstract] | ||
Unfunded contractual commitments | $ 113,000,000 | 112,000,000 |
Number of years over which distributions from indirect equity funds are expected to be received | 12 years | |
BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | $ 312,000,000 | 375,000,000 |
Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 437,000,000 | 424,000,000 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 1,892,000,000 | 2,332,000,000 |
Liabilities | ||
Total trading securities sold short | 1,042,000,000 | 1,490,000,000 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 9,000,000 | 21,000,000 |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 7,674,000,000 | 4,795,000,000 |
Securities available for sale, fair value | 8,187,000,000 | 5,221,000,000 |
Total financial derivatives | 4,000,000 | 4,000,000 |
Trading securities | 924,000,000 | 1,361,000,000 |
Other assets | 238,000,000 | 190,000,000 |
Total Assets | 9,353,000,000 | 6,776,000,000 |
Liabilities | ||
Total financial derivatives | 4,000,000 | |
Total trading securities sold short | 1,035,000,000 | 1,479,000,000 |
Total liabilities | 1,039,000,000 | 1,479,000,000 |
Level 1 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 7,674,000,000 | 4,795,000,000 |
Level 1 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 513,000,000 | 426,000,000 |
Level 1 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 4,000,000 | 4,000,000 |
Liabilities | ||
Total financial derivatives | 4,000,000 | |
Level 1 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 238,000,000 | 190,000,000 |
Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 915,000,000 | 1,340,000,000 |
Liabilities | ||
Total trading securities sold short | 1,035,000,000 | 1,479,000,000 |
Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 9,000,000 | 21,000,000 |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 40,641,000,000 | 33,474,000,000 |
Securities available for sale, fair value | 40,704,000,000 | 33,489,000,000 |
Total financial derivatives | 6,183,000,000 | 5,188,000,000 |
Trading securities | 974,000,000 | 960,000,000 |
Trading loans | 37,000,000 | 30,000,000 |
Total customer resale agreements | 139,000,000 | 155,000,000 |
Loans | 565,000,000 | 637,000,000 |
Other assets | 192,000,000 | 226,000,000 |
Total Assets | 49,875,000,000 | 41,940,000,000 |
Liabilities | ||
Total financial derivatives | 4,143,000,000 | 3,501,000,000 |
Total trading securities sold short | 7,000,000 | 11,000,000 |
Other borrowed funds | 74,000,000 | 92,000,000 |
Other liabilities | 5,000,000 | |
Total liabilities | 4,229,000,000 | 3,604,000,000 |
Level 2 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 617,000,000 | 627,000,000 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 24,509,000,000 | 18,043,000,000 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 124,000,000 | 144,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,963,000,000 | 2,187,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,757,000,000 | 4,162,000,000 |
Level 2 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,723,000,000 | 4,624,000,000 |
Level 2 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,045,000,000 | 1,904,000,000 |
Level 2 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 1,903,000,000 | 1,783,000,000 |
Level 2 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 63,000,000 | 15,000,000 |
Level 2 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 5,823,000,000 | 4,874,000,000 |
Liabilities | ||
Total financial derivatives | 3,892,000,000 | 3,260,000,000 |
Level 2 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 360,000,000 | 314,000,000 |
Liabilities | ||
Total financial derivatives | 251,000,000 | 241,000,000 |
Level 2 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,081,000,000 | 1,255,000,000 |
Level 2 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 192,000,000 | 226,000,000 |
Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 974,000,000 | 960,000,000 |
Liabilities | ||
Total trading securities sold short | 7,000,000 | 11,000,000 |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,772,000,000 | 5,525,000,000 |
Securities available for sale, fair value | 4,772,000,000 | 5,525,000,000 |
Total financial derivatives | 45,000,000 | 42,000,000 |
Trading securities | 3,000,000 | 32,000,000 |
Trading loans | 7,000,000 | |
Total equity investments | 1,621,000,000 | 1,621,000,000 |
Loans | 350,000,000 | 397,000,000 |
Other assets | 319,000,000 | 383,000,000 |
Total Assets | 9,384,000,000 | 10,257,000,000 |
Liabilities | ||
Total financial derivatives | 443,000,000 | 526,000,000 |
Other borrowed funds | 62,000,000 | 181,000,000 |
Other liabilities | 10,000,000 | 9,000,000 |
Total liabilities | 515,000,000 | 716,000,000 |
Level 3 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,215,000,000 | 4,798,000,000 |
Level 3 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 511,000,000 | 563,000,000 |
Level 3 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 16,000,000 | 134,000,000 |
Level 3 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 30,000,000 | 30,000,000 |
Level 3 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 43,000,000 | 40,000,000 |
Liabilities | ||
Total financial derivatives | 9,000,000 | 12,000,000 |
Level 3 [Member] | BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 312,000,000 | 375,000,000 |
Level 3 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 2,000,000 | 2,000,000 |
Liabilities | ||
Total financial derivatives | 122,000,000 | 139,000,000 |
Level 3 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 5,000,000 | 6,000,000 |
Mortgage servicing rights | 962,000,000 | 845,000,000 |
Level 3 [Member] | Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 802,000,000 | 893,000,000 |
Mortgage servicing rights | 505,000,000 | 506,000,000 |
Level 3 [Member] | Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 1,215,000,000 | 1,152,000,000 |
Level 3 [Member] | Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total equity investments | 406,000,000 | 469,000,000 |
Level 3 [Member] | BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 312,000,000 | 375,000,000 |
Level 3 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 7,000,000 | 8,000,000 |
Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | $ 3,000,000 | $ 32,000,000 |
Fair Value (Reconciliation of R
Fair Value (Reconciliation of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring [Member] - Level 3 [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | $ 10,650 | $ 9,719 | $ 10,692 | $ 10,257 | $ 10,650 |
Included in earnings | (71) | 196 | 315 | 391 | |
Included in other comprehensive income | (8) | 5 | (22) | 123 | |
Purchases | 257 | 177 | 657 | 456 | |
Sales | (167) | (185) | (482) | (488) | |
Issuances | 911 | 391 | 3,074 | 451 | |
Settlements | (1,237) | (410) | (4,363) | (664) | |
Transfers Into Level 3 | 12 | 12 | 25 | 26 | |
Transfers Out of Level 3 | (32) | (30) | (77) | (97) | |
Ending Balance | 9,384 | 10,848 | 9,384 | 10,848 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (110) | 132 | 108 | 189 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 638 | 673 | 637 | 716 | 638 |
Included in earnings | (53) | 78 | (23) | 145 | |
Sales | 1 | 1 | |||
Issuances | 23 | 10 | 69 | 29 | |
Settlements | (128) | (46) | (248) | (134) | |
Ending Balance | 515 | 679 | 515 | 679 | |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | (57) | 51 | (69) | 9 | |
Fair Value Additional Information [Abstract] | |||||
Net gains (losses) included in earnings (realized and unrealized) relating to Level 3 assets and liabilities | (18) | 118 | 338 | 246 | |
Amortization and accretion included in earnings relating to Level 3 assets and liabilities | 36 | 37 | 113 | 122 | |
Net unrealized gains (losses) relating to Level 3 assets and liabilities | (53) | 81 | 177 | 180 | |
Available-for-sale Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 6,370 | 5,004 | 6,102 | 5,525 | 6,370 |
Included in earnings | 35 | 34 | 110 | 115 | |
Included in other comprehensive income | (8) | 5 | (22) | 123 | |
Purchases | 8 | 11 | 1 | ||
Sales | (5) | (5) | (7) | ||
Settlements | (262) | (261) | (847) | (722) | |
Ending Balance | 4,772 | 5,880 | 4,772 | 5,880 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1) | (1) | (2) | (4) | |
Available-for-sale Securities [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 5,358 | 4,424 | 5,107 | 4,798 | 5,358 |
Included in earnings | 30 | 31 | 85 | 105 | |
Included in other comprehensive income | (9) | (5) | (31) | 80 | |
Settlements | (230) | (222) | (637) | (632) | |
Ending Balance | 4,215 | 4,911 | 4,215 | 4,911 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1) | (1) | (4) | ||
Available-for-sale Securities [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Included in earnings | 8 | ||||
Settlements | (8) | ||||
Available-for-sale Securities [Member] | Asset backed [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 641 | 531 | 619 | 563 | 641 |
Included in earnings | 5 | 3 | 16 | 11 | |
Included in other comprehensive income | 2 | 9 | 11 | 28 | |
Settlements | (27) | (39) | (79) | (88) | |
Ending Balance | 511 | 592 | 511 | 592 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1) | (1) | |||
Available-for-sale Securities [Member] | State and Municipal [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 333 | 16 | 345 | 134 | 333 |
Included in earnings | (2) | ||||
Included in other comprehensive income | 1 | (1) | 15 | ||
Settlements | (117) | ||||
Ending Balance | 16 | 346 | 16 | 346 | |
Available-for-sale Securities [Member] | Other debt [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 38 | 33 | 31 | 30 | 38 |
Included in earnings | 1 | 1 | |||
Included in other comprehensive income | (1) | (1) | |||
Purchases | 8 | 11 | 1 | ||
Sales | (5) | 0 | (5) | (7) | |
Settlements | (5) | (6) | (2) | ||
Ending Balance | 30 | 31 | 30 | 31 | |
Financial Derivatives [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 36 | 36 | 41 | 42 | 36 |
Included in earnings | 39 | 46 | 126 | 165 | |
Purchases | 1 | 1 | 2 | ||
Settlements | (30) | (59) | (124) | (174) | |
Ending Balance | 45 | 29 | 45 | 29 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 48 | 30 | 115 | 105 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 439 | 498 | 454 | 526 | 439 |
Included in earnings | (54) | 75 | (28) | 145 | |
Sales | 1 | 1 | |||
Settlements | (1) | (30) | (56) | (86) | |
Ending Balance | 443 | 499 | 443 | 499 | |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | (57) | 51 | (69) | 9 | |
Loans Held For Sale [Member] | Residential Mortgage [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 8 | 10 | 4 | 6 | 8 |
Included in earnings | 1 | 1 | 1 | ||
Purchases | 4 | 3 | 21 | 11 | |
Sales | (1) | (3) | (3) | ||
Settlements | (1) | (1) | |||
Transfers Into Level 3 | 2 | 5 | 4 | 9 | |
Transfers Out of Level 3 | (11) | (8) | (23) | (21) | |
Ending Balance | 5 | 4 | 5 | 4 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 1 | 1 | |||
Loans Held For Sale [Member] | Commercial Mortgage [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 586 | 757 | 521 | 893 | 586 |
Included in earnings | 19 | 6 | 63 | 13 | |
Sales | (56) | ||||
Issuances | 874 | 349 | 2,965 | 349 | |
Settlements | (848) | (9) | (3,063) | (81) | |
Ending Balance | 802 | 867 | 802 | 867 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 7 | 6 | 3 | 13 | |
Trading Securities - Debt [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 32 | 3 | 33 | 32 | 32 |
Included in earnings | 1 | 2 | |||
Settlements | (29) | ||||
Ending Balance | 3 | 34 | 3 | 34 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 2 | ||||
Trading Loans [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 7 | ||||
Sales | (7) | ||||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 1,087 | 1,015 | 967 | 845 | 1,087 |
Included in earnings | (137) | (4) | (69) | (120) | |
Purchases | 111 | 28 | 261 | 45 | |
Issuances | 23 | 23 | 61 | 66 | |
Settlements | (50) | (36) | (136) | (100) | |
Ending Balance | 962 | 978 | 962 | 978 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (136) | (3) | (69) | (115) | |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 543 | 515 | 506 | ||
Included in earnings | (44) | 5 | (26) | (20) | |
Purchases | 15 | 16 | 43 | 32 | |
Issuances | 14 | 19 | 48 | 36 | |
Settlements | 552 | (23) | (23) | (66) | 484 |
Ending Balance | 505 | 532 | 505 | 532 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (44) | 5 | (26) | (20) | |
Equity Investments [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 1,664 | 1,616 | 1,793 | 1,621 | 1,664 |
Included in earnings | 63 | 76 | 154 | 181 | |
Purchases | 90 | 100 | 236 | 280 | |
Sales | (148) | (181) | (390) | (336) | |
Settlements | (1) | ||||
Ending Balance | 1,621 | 1,788 | 1,621 | 1,788 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 66 | 65 | 139 | 160 | |
Equity Investments [Member] | Direct equity investments [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 1,069 | 1,191 | 1,219 | 1,152 | 1,069 |
Included in earnings | 36 | 48 | 92 | 120 | |
Purchases | 87 | 93 | 225 | 261 | |
Sales | (99) | (125) | (254) | (215) | |
Ending Balance | 1,215 | 1,235 | 1,215 | 1,235 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 39 | 38 | 79 | 101 | |
Equity Investments [Member] | Indirect Equity Investments [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 595 | 425 | 574 | 469 | 595 |
Included in earnings | 27 | 28 | 62 | 61 | |
Purchases | 3 | 7 | 11 | 19 | |
Sales | (49) | (56) | (136) | (121) | |
Settlements | (1) | ||||
Ending Balance | 406 | 553 | 406 | 553 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 27 | 27 | 60 | 59 | |
Loans [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 527 | 365 | 373 | 397 | 527 |
Included in earnings | 4 | 22 | 19 | 41 | |
Purchases | 29 | 29 | 84 | 85 | |
Sales | (13) | (4) | (21) | (142) | |
Settlements | (24) | (22) | (96) | (69) | |
Transfers Into Level 3 | 10 | 7 | 21 | 17 | |
Transfers Out of Level 3 | (21) | (22) | (54) | (76) | |
Ending Balance | 350 | 383 | 350 | 383 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 1 | 20 | 10 | 34 | |
Other Assets [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 340 | 370 | 343 | 383 | 340 |
Included in earnings | (51) | 10 | (63) | 13 | |
Settlements | (1) | ||||
Ending Balance | 319 | 353 | 319 | 353 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (51) | 10 | (63) | 13 | |
Other Assets [Member] | BlackRock Series C Preferred Stock | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 332 | 363 | 335 | 375 | 332 |
Included in earnings | (51) | 10 | (63) | 13 | |
Ending Balance | 312 | 345 | 312 | 345 | |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (51) | 10 | (63) | 13 | |
Other Assets [Member] | Other Assets [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 8 | 7 | 8 | 8 | 8 |
Settlements | (1) | ||||
Ending Balance | 7 | 8 | 7 | 8 | |
Other Borrowed Funds [Member] | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | $ 199 | 165 | 183 | 181 | 199 |
Included in earnings | 1 | 3 | 4 | ||
Issuances | 23 | 10 | 69 | 29 | |
Settlements | (127) | (16) | (192) | (48) | |
Ending Balance | 62 | $ 180 | 62 | $ 180 | |
Other Liabilities | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | 10 | 9 | |||
Included in earnings | 1 | ||||
Ending Balance | $ 10 | $ 10 |
Fair Value (Fair Value Measurem
Fair Value (Fair Value Measurements- Recurring Quantitative Information) (Details) - Fair Value, Measurements, Recurring [Member] - Level 3 [Member] - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 9,384 | $ 10,257 |
Recurring Liabilities - Fair Value | 515 | 716 |
Total Recurring Assets Net of Recurring Liabilities - Fair Value | 8,869 | 9,541 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 4,215 | $ 4,798 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 1.00% | 1.00% |
Constant default rate (CDR) | 0.00% | 0.00% |
Loss Severity | 10.00% | 6.10% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 24.20% | 28.90% |
Constant default rate (CDR) | 16.70% | 16.70% |
Loss Severity | 98.50% | 100.00% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 7.00% | 6.80% |
Constant default rate (CDR) | 5.40% | 5.60% |
Loss Severity | 53.20% | 53.10% |
Spread over the benchmark curve | 2.52% | 2.49% |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Available [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 3,561 | $ 4,081 |
Available-for-sale Securities [Member] | Residential Mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Unavailable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 654 | 717 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 511 | $ 563 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 1.00% | 1.00% |
Constant default rate (CDR) | 1.70% | 1.70% |
Loss Severity | 15.00% | 14.60% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 15.70% | 15.70% |
Constant default rate (CDR) | 13.90% | 13.90% |
Loss Severity | 100.00% | 100.00% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 6.50% | 5.90% |
Constant default rate (CDR) | 6.80% | 7.60% |
Loss Severity | 76.50% | 73.50% |
Spread over the benchmark curve | 3.33% | 3.52% |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Available [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 478 | $ 532 |
Available-for-sale Securities [Member] | Asset backed [Member] | Priced By A Third Party Vendor Using Discounted Cash Flow Pricing Model [Member] | Third Party Pricing Services Unavailable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | 33 | 31 |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 132 | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.55% | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.65% | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.67% | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 2 | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 0.00% | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 20.00% | |
Available-for-sale Securities [Member] | State and Municipal [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 14.90% | |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 30 | |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 7.00% | |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 95.00% | |
Available-for-sale Securities [Member] | Other Debt Securities [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 88.60% | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 32 | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 0.00% | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 15.00% | |
Trading Securities - Debt [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 8.00% | |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 962 | $ 845 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 0.30% | 3.80% |
Spread over the benchmark curve | 5.55% | 8.89% |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 34.80% | 32.70% |
Spread over the benchmark curve | 18.51% | 18.88% |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 11.80% | 11.20% |
Spread over the benchmark curve | 9.32% | 10.36% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 505 | $ 506 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 5.70% | 7.00% |
Discount rate | 1.80% | 2.50% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 29.10% | 16.80% |
Discount rate | 7.60% | 8.60% |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 7.20% | 8.00% |
Discount rate | 7.40% | 6.60% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 802 | $ 893 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 0.62% | 0.37% |
Estimated servicing cash flows | 0.00% | 0.00% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 35.95% | 40.25% |
Estimated servicing cash flows | 3.80% | 2.00% |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 4.68% | 5.49% |
Estimated servicing cash flows | 0.60% | 1.20% |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 1,215 | $ 1,152 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 4.2 | 3.2 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 15 | 13.9 |
Equity Investments [Member] | Direct equity investments [Member] | Multiple Of Adjusted Earnings [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Multiple of earnings | 7.9 | 7.7 |
Equity Investments [Member] | Indirect Equity Investments [Member] | Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 406 | $ 469 |
Loans - Residential real estate [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 118 | $ 154 |
Loans - Residential real estate [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 8.00% | 8.00% |
Discount rate | 3.50% | 3.40% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 121 | $ 114 |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 0.00% | 0.00% |
Cumulative default rate | 2.00% | 2.00% |
Discount rate | 4.90% | 5.40% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 100.00% | 100.00% |
Cumulative default rate | 100.00% | 100.00% |
Discount rate | 7.00% | 7.00% |
Loans - Residential real estate [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 28.90% | 35.60% |
Cumulative default rate | 85.50% | 90.50% |
Discount rate | 5.20% | 6.40% |
Loans - Home equity [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 111 | $ 129 |
Loans - Home equity [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 26.00% | 26.00% |
Loans - Home equity [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 99.00% | 99.00% |
Loans - Home equity [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Credit and Liquidity discount | 53.00% | 51.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 312 | $ 375 |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Other Assets [Member] | BlackRock Series C Preferred Stock | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | $ 312 | $ 375 |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | BlackRock LTIP [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 20.00% | 20.00% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | $ 117 | $ 135 |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 18.00% | 14.80% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 18.00% | 14.80% |
Financial Derivatives [Member] | Visa Class B Swap [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Estimated conversion factor of Class B shares into Class A shares | 164.30% | 41.10% |
Estimated growth rate of Visa Class A share price | 18.00% | 14.80% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Liabilities - Fair Value | $ 51 | $ 166 |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.13% | |
Credit and Liquidity discount | 0.00% | 0.00% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.13% | |
Credit and Liquidity discount | 100.00% | 99.00% |
Other borrowed funds [Member] | Non-Agency Securitization [Member] | Consensus Pricing [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Spread over the benchmark curve | 1.13% | |
Credit and Liquidity discount | 10.00% | 18.00% |
Insignificant Assets, Net of Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 71 | $ 23 |
Fair Value (Nonrecurring Fair V
Fair Value (Nonrecurring Fair Value Measurements) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | $ 269 | ||||
Level 2 [Member] | Loans Held For Sale [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 8 | ||||
Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | $ 192 | $ 192 | 261 | ||
Nonrecurring Assets - Gains (Losses) | (49) | $ (12) | (82) | $ (40) | |
Level 3 [Member] | Nonaccrual Loans [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 44 | 44 | 54 | ||
Nonrecurring Assets - Gains (Losses) | (41) | (3) | (48) | (12) | |
Level 3 [Member] | Equity Investments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 1 | 1 | 17 | ||
Level 3 [Member] | OREO and Foreclosed Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 129 | 129 | 168 | ||
Nonrecurring Assets - Gains (Losses) | (6) | (7) | (18) | (16) | |
Level 3 [Member] | Long-lived assets held for sale [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 18 | 18 | $ 22 | ||
Nonrecurring Assets - Gains (Losses) | $ (2) | $ (2) | $ (16) | $ (12) |
Fair Value (Fair Value Measur71
Fair Value (Fair Value Measurements- Nonrecurring Quantitative Information) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 269 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 192 | 261 |
Level 3 [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 167 | 215 |
Level 3 [Member] | Nonaccrual Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 44 | 54 |
Level 3 [Member] | Nonaccrual Loans [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 20 | 25 |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 24 | $ 29 |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 9.00% | 2.90% |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 75.30% | 68.50% |
Level 3 [Member] | Nonaccrual Loans [Member] | LGD percentage [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 60.90% | 42.10% |
Level 3 [Member] | Equity Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 1 | $ 17 |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 5.00% | 6.00% |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 5.00% | 6.00% |
Level 3 [Member] | Equity Investments [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Market rate of return | 5.00% | 6.00% |
Level 3 [Member] | OREO and Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 129 | $ 168 |
Level 3 [Member] | OREO and Foreclosed Assets [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 129 | 168 |
Level 3 [Member] | Long-lived assets held for sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 18 | 22 |
Level 3 [Member] | Long-lived assets held for sale [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 18 | $ 22 |
Fair Value (Fair Value Option -
Fair Value (Fair Value Option - Changes in Fair Value) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Customer Resale Agreements [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | $ (1) | $ (2) | $ (1) | $ (3) |
Trading Loans [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 2 | 1 | ||
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 25 | 6 | 81 | 13 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 56 | 26 | 127 | 155 |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 8 | 26 | 37 | 113 |
BlackRock Series C Preferred Stock | ||||
Gains (Losses) - FVO: Changes in Fair Value | (51) | 10 | (63) | $ 13 |
Other Borrowed Funds [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | $ (2) | $ (3) | $ (4) |
Fair Value (Fair Value Option73
Fair Value (Fair Value Option - Fair Value and Principal Balances) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Customer Resale Agreements [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | $ 139 | $ 155 |
Aggregate Unpaid Principal Balance - Assets | 134 | 148 |
Difference - Assets | 5 | 7 |
Trading Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 37 | 37 |
Aggregate Unpaid Principal Balance - Assets | 37 | 37 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,086 | 1,261 |
Aggregate Unpaid Principal Balance - Assets | 1,038 | 1,202 |
Difference - Assets | 48 | 59 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 802 | 893 |
Aggregate Unpaid Principal Balance - Assets | 816 | 972 |
Difference - Assets | (14) | (79) |
Loans Held For Sale [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,074 | 1,236 |
Aggregate Unpaid Principal Balance - Assets | 1,025 | 1,176 |
Difference - Assets | 49 | 60 |
Loans Held For Sale [Member] | Performing Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 800 | 873 |
Aggregate Unpaid Principal Balance - Assets | 813 | 908 |
Difference - Assets | (13) | (35) |
Loans Held For Sale [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 3 | 9 |
Aggregate Unpaid Principal Balance - Assets | 3 | 9 |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 9 | 16 |
Aggregate Unpaid Principal Balance - Assets | 10 | 17 |
Difference - Assets | (1) | (1) |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 2 | 20 |
Aggregate Unpaid Principal Balance - Assets | 3 | 64 |
Difference - Assets | (1) | (44) |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 915 | 1,034 |
Aggregate Unpaid Principal Balance - Assets | 1,121 | 1,278 |
Difference - Assets | (206) | (244) |
Loans - Portfolio [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 221 | 194 |
Aggregate Unpaid Principal Balance - Assets | 278 | 256 |
Difference - Assets | (57) | (62) |
Loans - Portfolio [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 462 | 570 |
Aggregate Unpaid Principal Balance - Assets | 465 | 573 |
Difference - Assets | (3) | (3) |
Loans - Portfolio [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 232 | 270 |
Aggregate Unpaid Principal Balance - Assets | 378 | 449 |
Difference - Assets | (146) | (179) |
Other Borrowed Funds [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Liabilities | 136 | 273 |
Aggregate Unpaid Principal Balance - Liabilities | 135 | 312 |
Difference - Liabilities | $ 1 | $ (39) |
Fair Value (Additional Fair Val
Fair Value (Additional Fair Value Information Related To Financial Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Carrying Amount [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | $ 3,835 | $ 4,360 |
Short-term assets | 36,644 | 34,380 |
Securities held to maturity | 14,403 | 11,588 |
Loans held for sale | 172 | 108 |
Net loans (excludes leases) | 193,170 | 192,573 |
Other assets | 1,900 | 1,879 |
Total assets | 250,124 | 244,888 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 55,790 | 55,329 |
Unfunded loan commitments and letters of credit | 249 | 240 |
Total liabilities | 301,018 | 287,803 |
Carrying Amount [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 224,097 | 210,838 |
Carrying Amount [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,882 | 21,396 |
Fair Value [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 3,835 | 4,360 |
Short-term assets | 36,644 | 34,380 |
Securities held to maturity | 14,765 | 11,984 |
Loans held for sale | 181 | 108 |
Net loans (excludes leases) | 195,774 | 194,564 |
Other assets | 2,473 | 2,544 |
Total assets | 253,672 | 247,940 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 56,066 | 56,011 |
Unfunded loan commitments and letters of credit | 249 | 240 |
Total liabilities | 301,346 | 288,481 |
Fair Value [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 224,097 | 210,838 |
Fair Value [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,934 | 21,392 |
Fair Value [Member] | Level 1 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 3,835 | 4,360 |
Securities held to maturity | 302 | 292 |
Total assets | 4,137 | 4,652 |
Fair Value [Member] | Level 2 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Short-term assets | 36,644 | 34,380 |
Securities held to maturity | 14,456 | 11,683 |
Loans held for sale | 117 | 56 |
Other assets | 1,857 | 1,802 |
Total assets | 53,074 | 47,921 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 54,674 | 54,574 |
Total liabilities | 299,705 | 286,804 |
Fair Value [Member] | Level 2 [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 224,097 | 210,838 |
Fair Value [Member] | Level 2 [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 20,934 | 21,392 |
Fair Value [Member] | Level 3 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Securities held to maturity | 7 | 9 |
Loans held for sale | 64 | 52 |
Net loans (excludes leases) | 195,774 | 194,564 |
Other assets | 616 | 742 |
Total assets | 196,461 | 195,367 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 1,392 | 1,437 |
Unfunded loan commitments and letters of credit | 249 | 240 |
Total liabilities | $ 1,641 | $ 1,677 |
Goodwill and Other Intangible75
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Mortgage servicing rights | $ 1,467 | $ 1,351 |
Customer-Related and Other Intangible Assets [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite Lived Intangible Asset Useful Life | 1 year | |
Customer-Related and Other Intangible Assets [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite Lived Intangible Asset Useful Life | 9 years | |
Customer-Related and Other Intangible Assets [Member] | Weighted Average [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite Lived Intangible Asset Useful Life | 6 years |
Goodwill and Other Intangible76
Goodwill and Other Intangible Assets (Goodwill by Business Segment) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Goodwill [Line Items] | ||
Goodwill | $ 9,103 | $ 9,103 |
Retail Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 5,795 | 5,795 |
Corporate & Institutional Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 3,244 | 3,244 |
Asset Management Group [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $ 64 | $ 64 |
Goodwill and Other Intangible77
Goodwill and Other Intangible Assets (Mortgage Servicing Rights) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | $ 1,351 | |
Mortgage servicing rights, ending balance | 1,467 | |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 845 | $ 1,087 |
Mortgage servicing rights, ending balance | 962 | 978 |
Unpaid principal balance of loans serviced for others at end of period | 121,680 | 110,749 |
Servicing Advances | 431 | 486 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (136) | (100) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (69) | (120) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 61 | 66 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 261 | 45 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 506 | 552 |
Mortgage servicing rights, ending balance | 505 | 532 |
Unpaid principal balance of loans serviced for others at end of period | 143,915 | 143,449 |
Servicing Advances | 277 | 318 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (66) | (68) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (26) | (20) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 48 | 36 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | $ 43 | $ 32 |
Goodwill and Other Intangible78
Goodwill and Other Intangible Assets (Commercial and Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | $ 1,467 | $ 1,351 | ||
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||||
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | $ 505 | $ 506 | $ 532 | $ 552 |
Weighted-average life | 4 years 10 months | 4 years 8 months | ||
Constant prepayment rate (CPR) | 7.22% | 8.03% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 10 | $ 10 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 20 | $ 19 | ||
Discount rate | 7.36% | 6.59% | ||
Decline in fair value from 10% adverse change in interest rate | $ 14 | $ 13 | ||
Decline in fair value from 20% adverse change in interest rate | 28 | 26 | ||
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||||
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Adverse Change In Assumption [Line Items] | ||||
Fair Value | $ 962 | $ 845 | $ 978 | $ 1,087 |
Weighted-average life | 5 years 11 months | 6 years 1 month | ||
Constant prepayment rate (CPR) | 11.82% | 11.16% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 45 | $ 36 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 86 | $ 69 | ||
Spread over the benchmark curve | 9.32% | 10.36% | ||
Decline in fair value from 10% adverse change in adjusted spread | $ 33 | $ 31 | ||
Decline in fair value from 20% adverse change in adjusted spread | $ 64 | $ 61 |
Goodwill and Other Intangible79
Goodwill and Other Intangible Assets (Fees from Mortgage and Other Loan Servicing) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Fees from Mortgage and Other Loan Servicing | $ 133 | $ 125 | $ 381 | $ 381 |
Goodwill and Other Intangible80
Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Goodwill and Other Intangible Assets Disclosure [Abstract] | ||
Intangible Assets, Gross carrying amount | $ 1,499 | $ 1,502 |
Accumulated amortization | (1,092) | (1,009) |
Intangible Assets, Net Carrying Amount | $ 407 | $ 493 |
Goodwill and Other Intangible81
Goodwill and Other Intangible Assets (Amortization Expense on Existing Intangible Assets) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $ 86 | $ 96 |
Future amortization expense to be recognized during remainder of 2015 | 28 | |
Future amortization expense to be recognized during 2016 | 97 | |
Future amortization expense to be recognized during 2017 | 83 | |
Future amortization expense to be recognized during 2018 | 72 | |
Future amortization expense to be recognized during 2019 | 61 | |
Future amortization expense to be recognized during 2020 | $ 37 |
Certain Employee Benefit and 82
Certain Employee Benefit and Stock Based Compensation Plans (Narrative) (Details) - USD ($) shares in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | $ 118,000,000 | $ 133,000,000 |
Unamortized share-based compensation expense related to nonvested equity compensation arrangements | $ 215,000,000 | |
Period over which unamortized share-based compensation expense will be amortized. | 5 years | |
Treasury stock activity (in shares) | 1.2 | |
Nonvested Cash-Payable Restricted Share Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate intrinsic value | $ 70,000,000 | |
Service based vesting period | 3 years | |
Unamortized compensation expense amortization period | 4 years |
Certain Employee Benefit and 83
Certain Employee Benefit and Stock Based Compensation Plans (Net Periodic Pension and Postretirement Benefits Costs) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Qualified Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 27,000,000 | $ 26,000,000 | $ 80,000,000 | $ 77,000,000 |
Interest cost | 44,000,000 | 46,000,000 | 133,000,000 | 140,000,000 |
Expected return on plan assets | (75,000,000) | (72,000,000) | (223,000,000) | (216,000,000) |
Amortization of prior service cost/(credit) | (2,000,000) | (2,000,000) | (6,000,000) | (6,000,000) |
Amortization of actuarial losses | 8,000,000 | 23,000,000 | ||
Net periodic cost/(benefit) | 2,000,000 | (2,000,000) | 7,000,000 | (5,000,000) |
Nonqualified Retirement Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1,000,000 | 2,000,000 | 2,000,000 | |
Interest cost | 3,000,000 | 3,000,000 | 9,000,000 | 9,000,000 |
Amortization of actuarial losses | 2,000,000 | 1,000,000 | 5,000,000 | 3,000,000 |
Net periodic cost/(benefit) | 6,000,000 | 4,000,000 | 16,000,000 | 14,000,000 |
Postretirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1,000,000 | 2,000,000 | 4,000,000 | 4,000,000 |
Interest cost | 4,000,000 | 4,000,000 | 11,000,000 | 12,000,000 |
Amortization of prior service cost/(credit) | (1,000,000) | (1,000,000) | (1,000,000) | (1,000,000) |
Net periodic cost/(benefit) | $ 4,000,000 | $ 5,000,000 | $ 14,000,000 | $ 15,000,000 |
Certain Employee Benefit and 84
Certain Employee Benefit and Stock Based Compensation Plans (Stock Option Rollforward) (Details) | 9 Months Ended |
Sep. 30, 2015$ / sharesshares | |
Total Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | shares | 7,044,000 |
Exercised | shares | (1,649,000) |
Cancelled | shares | (63,000) |
Outstanding, ending balance | shares | 5,332,000 |
Exercisable, Shares | shares | 5,284,000 |
Weighted-average exercise price, beginning of period | $ 82.17 |
Weighted-average exercise price, exercised | 59.09 |
Weighted-average exercise price, cancelled | 412.47 |
Weighted-average exercise price, end of period | 85.39 |
Exercisable, Weighted-average exercise price of shares | $ 85.59 |
PNC [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | shares | 6,701,000 |
Exercised | shares | (1,649,000) |
Cancelled | shares | (29,000) |
Outstanding, ending balance | shares | 5,023,000 |
Exercisable, Shares | shares | 4,975,000 |
Weighted-average exercise price, beginning of period | $ 56.41 |
Weighted-average exercise price, exercised | 59.09 |
Weighted-average exercise price, cancelled | 44.61 |
Weighted-average exercise price, end of period | 55.6 |
Exercisable, Weighted-average exercise price of shares | $ 55.52 |
PNC Options Converted From National City Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, beginning balance | shares | 343,000 |
Cancelled | shares | (34,000) |
Outstanding, ending balance | shares | 309,000 |
Exercisable, Shares | shares | 309,000 |
Weighted-average exercise price, beginning of period | $ 585.23 |
Weighted-average exercise price, cancelled | 731.38 |
Weighted-average exercise price, end of period | 569.21 |
Exercisable, Weighted-average exercise price of shares | $ 569.21 |
Certain Employee Benefit and 85
Certain Employee Benefit and Stock Based Compensation Plans (Nonvested Incentive Performance Unit Share Awards and Restricted Stock Share Unit Awards - Rollforward) (Details) | 9 Months Ended |
Sep. 30, 2015$ / sharesshares | |
Nonvested Incentive / Performance Unit Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | shares | 1,837,000 |
Granted | shares | 649,000 |
Vested/Released | shares | (682,000) |
Forfeited | shares | (37,000) |
Outstanding, Ending balance | shares | 1,767,000 |
Weighted-average grant date fair value, beginning of period | $ 69.84 |
Weighted-average grant date fair value, granted shares | 90.35 |
Weighted-average grant date fair value, vested/released shares | 66.17 |
Weighted-average grant date fair value, forfeited shares | 73.56 |
Weighted-average grant date fair value, end of period | $ 78.71 |
Nonvested Restricted Stock / Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | shares | 3,652,000 |
Granted | shares | 1,048,000 |
Vested/Released | shares | (1,199,000) |
Forfeited | shares | (130,000) |
Outstanding, Ending balance | shares | 3,371,000 |
Weighted-average grant date fair value, beginning of period | $ 69.03 |
Weighted-average grant date fair value, granted shares | 92.35 |
Weighted-average grant date fair value, vested/released shares | 61.14 |
Weighted-average grant date fair value, forfeited shares | 78.13 |
Weighted-average grant date fair value, end of period | $ 78.82 |
Certain Employee Benefit and 86
Certain Employee Benefit and Stock Based Compensation Plans (Nonvested Cash-Payable Incentive Performance Units and Restricted Share Unit - Rollforward) (Details) shares in Thousands | 9 Months Ended |
Sep. 30, 2015shares | |
Nonvested Cash-Payable Incentive/Performance Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 177 |
Granted | 81 |
Vested/Released | (98) |
Forfeited | (43) |
Outstanding, Ending balance | 117 |
Nonvested Cash-Payable Restricted Share Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 658 |
Granted | 364 |
Vested/Released | (349) |
Forfeited | (6) |
Outstanding, Ending balance | 667 |
Total - Nonvested Cash Payable Incentive/Performance Units and Restricted Share Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning balance | 835 |
Granted | 445 |
Vested/Released | (447) |
Forfeited | (49) |
Outstanding, Ending balance | 784 |
Financial Derivatives (Narrativ
Financial Derivatives (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||
Cash And Securities Held To Collateralize Net Derivative Assets | $ 1,100 | |
Cash And Securities Pledged To Collateralize Net Derivative Liabilities | 900 | |
Aggregate fair value of all derivative instruments with credit-risk-related contingent features | 900 | |
Collateral posted on derivative instruments with credit-risk-related contingent features | 700 | |
Maximum amount of collateral PNC would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered | 200 | |
Risk Participation Agreements Sold [Member] | ||
Derivative [Line Items] | ||
Credit Derivative Maximum Exposure Undiscounted | 148 | $ 124 |
Derivative Liability Notional Amount | $ 2,800 | $ 2,800 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Maximum length of time over which forecasted loan cash flows are hedged | 10 years | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Pretax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 243 | |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | After Tax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 158 | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Maximum length of time over which forecasted loan cash flows are hedged | 3 months | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Pretax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 33 | |
Forward Contracts [Member] | Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | After Tax [Member] | ||
Derivative [Line Items] | ||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 22 |
Financial Derivatives (Total Gr
Financial Derivatives (Total Gross Derivatives) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $ 6,232 | $ 5,234 |
Derivative Liability, Fair Value | 4,590 | 4,027 |
Derivative Notional Amount | 366,693 | 340,317 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,604 | 1,261 |
Derivative Liability, Fair Value | 217 | 186 |
Derivative Notional Amount | 52,710 | 49,061 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 4,628 | 3,973 |
Derivative Liability, Fair Value | 4,373 | 3,841 |
Derivative Notional Amount | $ 313,983 | $ 291,256 |
Financial Derivatives (Derivati
Financial Derivatives (Derivatives Designated As Hedging Instruments Under GAAP) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $ 6,232 | $ 5,234 |
Derivative Liability, Fair Value | 4,590 | 4,027 |
Derivative Notional Amount | 366,693 | 340,317 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,604 | 1,261 |
Derivative Liability, Fair Value | 217 | 186 |
Derivative Notional Amount | 52,710 | 49,061 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 4,628 | 3,973 |
Derivative Liability, Fair Value | 4,373 | 3,841 |
Derivative Notional Amount | 313,983 | 291,256 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 975 | 830 |
Derivative Liability, Fair Value | 217 | 176 |
Derivative Notional Amount | 29,796 | 25,163 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 975 | 827 |
Derivative Liability, Fair Value | 38 | |
Derivative Notional Amount | 24,651 | 20,930 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Pay Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 3 | |
Derivative Liability, Fair Value | 217 | 138 |
Derivative Notional Amount | 5,145 | 4,233 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 591 | 425 |
Derivative Liability, Fair Value | 10 | |
Derivative Notional Amount | 21,789 | 22,769 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 579 | 400 |
Derivative Liability, Fair Value | 10 | |
Derivative Notional Amount | 20,423 | 19,991 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Forward Purchase Commitments [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 12 | 25 |
Derivative Notional Amount | 1,366 | 2,778 |
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 38 | 6 |
Derivative Notional Amount | $ 1,125 | $ 1,129 |
Financial Derivatives (Gains (L
Financial Derivatives (Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges) (Details) - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - Interest Rate Contracts [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | $ 213,000,000 | $ (114,000,000) | $ 118,000,000 | $ (65,000,000) |
Gain (Loss) on Related Hedged Items Recognized in Income | (229,000,000) | 110,000,000 | (154,000,000) | 46,000,000 |
The ineffective portion of the change in value of our fair value hedge derivatives | (16,000,000) | (4,000,000) | (36,000,000) | (19,000,000) |
US Treasury and Government Agencies Securities [Member] | Investment Securities Interest Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | (91,000,000) | 31,000,000 | (79,000,000) | (52,000,000) |
Gain (Loss) on Related Hedged Items Recognized in Income | 93,000,000 | (31,000,000) | 81,000,000 | 55,000,000 |
Other Debt Securities [Member] | Investment Securities Interest Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | (1,000,000) | 2,000,000 | (1,000,000) | 1,000,000 |
Gain (Loss) on Related Hedged Items Recognized in Income | 1,000,000 | (2,000,000) | 1,000,000 | (1,000,000) |
Subordinated Debts [Member] | Borrowed Funds Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | 92,000,000 | (69,000,000) | 8,000,000 | 5,000,000 |
Gain (Loss) on Related Hedged Items Recognized in Income | (104,000,000) | 66,000,000 | (37,000,000) | (23,000,000) |
Bank Notes And Senior Debt [Member] | Borrowed Funds Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | 213,000,000 | (78,000,000) | 190,000,000 | (19,000,000) |
Gain (Loss) on Related Hedged Items Recognized in Income | $ (219,000,000) | $ 77,000,000 | $ (199,000,000) | $ 15,000,000 |
Financial Derivatives (Gains 91
Financial Derivatives (Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net unrealized gains (losses) on cash flow hedge derivatives | $ 234 | $ (81) | $ 303 | $ (5) |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in OCI (Effective Portion) | 326 | (17) | 522 | 193 |
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 92 | 64 | 219 | 198 |
Net unrealized gains (losses) on cash flow hedge derivatives | 234 | (81) | 303 | (5) |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 80 | $ 64 | 220 | 200 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Noninterest Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $ 12 | $ (1) | $ (2) |
Financial Derivatives (Gains 92
Financial Derivatives (Gains (Losses) on Derivatives - Net Investment Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net | $ 43 | $ 51 | $ 32 | $ 18 |
Financial Derivatives (Deriva93
Financial Derivatives (Derivatives Not Designated As Hedging Instruments under GAAP) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Derivative Notional Amount | $ 366,693,000,000 | $ 340,317,000,000 |
Derivative Asset, Fair Value | 6,232,000,000 | 5,234,000,000 |
Derivative Liability, Fair Value | 4,590,000,000 | 4,027,000,000 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 52,710,000,000 | 49,061,000,000 |
Derivative Asset, Fair Value | 1,604,000,000 | 1,261,000,000 |
Derivative Liability, Fair Value | 217,000,000 | 186,000,000 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 313,983,000,000 | 291,256,000,000 |
Derivative Asset, Fair Value | 4,628,000,000 | 3,973,000,000 |
Derivative Liability, Fair Value | 4,373,000,000 | 3,841,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 91,020,000,000 | 76,102,000,000 |
Derivative Asset, Fair Value | 1,065,000,000 | 846,000,000 |
Derivative Liability, Fair Value | 645,000,000 | 437,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 82,874,000,000 | 68,976,000,000 |
Derivative Asset, Fair Value | 1,027,000,000 | 814,000,000 |
Derivative Liability, Fair Value | 619,000,000 | 416,000,000 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 8,146,000,000 | 7,126,000,000 |
Derivative Asset, Fair Value | 38,000,000 | 32,000,000 |
Derivative Liability, Fair Value | 26,000,000 | 21,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 27,338,000,000 | 26,290,000,000 |
Derivative Asset, Fair Value | 117,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 74,000,000 | 59,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 79,000,000 | 95,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 27,259,000,000 | 26,195,000,000 |
Derivative Asset, Fair Value | 117,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 74,000,000 | 59,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 190,090,000,000 | 183,474,000,000 |
Derivative Asset, Fair Value | 3,369,000,000 | 2,956,000,000 |
Derivative Liability, Fair Value | 3,220,000,000 | 2,834,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 11,183,000,000 | 12,547,000,000 |
Derivative Asset, Fair Value | 244,000,000 | 223,000,000 |
Derivative Liability, Fair Value | 246,000,000 | 240,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Risk Participation Agreement [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,135,000,000 | 5,124,000,000 |
Derivative Asset, Fair Value | 2,000,000 | 2,000,000 |
Derivative Liability, Fair Value | 5,000,000 | 4,000,000 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 173,772,000,000 | 165,803,000,000 |
Derivative Asset, Fair Value | 3,123,000,000 | 2,731,000,000 |
Derivative Liability, Fair Value | 2,969,000,000 | 2,590,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,535,000,000 | 5,390,000,000 |
Derivative Asset, Fair Value | 77,000,000 | 86,000,000 |
Derivative Liability, Fair Value | 434,000,000 | 511,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 833,000,000 | |
Derivative Asset, Fair Value | 1,000,000 | |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Credit Default Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 15,000,000 | 15,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,357,000,000 | 2,661,000,000 |
Derivative Asset, Fair Value | 77,000,000 | 85,000,000 |
Derivative Liability, Fair Value | 5,000,000 | 1,000,000 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,163,000,000 | 1,881,000,000 |
Derivative Liability, Fair Value | 429,000,000 | 510,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 35,752,000,000 | 32,459,000,000 |
Derivative Asset, Fair Value | 972,000,000 | 777,000,000 |
Derivative Liability, Fair Value | 599,000,000 | 394,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,822,000,000 | 3,801,000,000 |
Derivative Asset, Fair Value | 103,000,000 | 67,000,000 |
Derivative Liability, Fair Value | 67,000,000 | 48,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 152,068,000,000 | 146,008,000,000 |
Derivative Asset, Fair Value | 2,985,000,000 | 2,632,000,000 |
Derivative Liability, Fair Value | 2,938,000,000 | 2,559,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 928,000,000 | 1,498,000,000 |
Derivative Asset, Fair Value | 31,000,000 | 29,000,000 |
Derivative Liability, Fair Value | 14,000,000 | 22,000,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 439,000,000 | 439,000,000 |
Derivative Asset, Fair Value | 2,000,000 | |
Derivative Liability, Fair Value | 1,000,000 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,161,000,000 | 3,361,000,000 |
Derivative Asset, Fair Value | 103,000,000 | 62,000,000 |
Derivative Liability, Fair Value | 10,000,000 | 12,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 25,204,000,000 | 22,084,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 30,000,000 | 58,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 21,391,000,000 | 19,913,000,000 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,367,000,000 | 3,112,000,000 |
Not Designated as Hedging Instrument [Member] | Future Options [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 17,000,000,000 | 12,225,000,000 |
Derivative Asset, Fair Value | 4,000,000 | 4,000,000 |
Derivative Liability, Fair Value | 4,000,000 | |
Not Designated as Hedging Instrument [Member] | Residential Mortgage Loan Commitment [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,789,000,000 | 1,852,000,000 |
Derivative Asset, Fair Value | 28,000,000 | 22,000,000 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Loan Commitment [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,607,000,000 | 2,042,000,000 |
Derivative Asset, Fair Value | 14,000,000 | 16,000,000 |
Derivative Liability, Fair Value | 7,000,000 | 10,000,000 |
Not Designated as Hedging Instrument [Member] | Bond Option [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 300,000,000 | 300,000,000 |
Derivative Asset, Fair Value | 1,000,000 | |
Not Designated as Hedging Instrument [Member] | Caps Floors Sold [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,292,000,000 | 4,846,000,000 |
Derivative Liability, Fair Value | 13,000,000 | 16,000,000 |
Not Designated as Hedging Instrument [Member] | Caps Floors Purchased [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,585,000,000 | 6,339,000,000 |
Derivative Asset, Fair Value | 29,000,000 | 34,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,990,000,000 | 710,000,000 |
Derivative Asset, Fair Value | 20,000,000 | 4,000,000 |
Derivative Liability, Fair Value | 2,000,000 | |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,027,000,000 | 4,916,000,000 |
Derivative Asset, Fair Value | 9,000,000 | 10,000,000 |
Derivative Liability, Fair Value | 26,000,000 | 21,000,000 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,299,000,000 | 2,137,000,000 |
Derivative Asset, Fair Value | 6,000,000 | 3,000,000 |
Derivative Liability, Fair Value | $ 8,000,000 | $ 3,000,000 |
Financial Derivatives (Gains 94
Financial Derivatives (Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ 354 | $ 75 | $ 631 | $ 224 |
Residential Mortgages [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 138 | 32 | 221 | 130 |
Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 144 | 15 | 159 | 125 |
Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (6) | 17 | 62 | 5 |
Commercial Mortgage Banking [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 42 | 4 | 47 | 46 |
Commercial Mortgage Banking [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 42 | 4 | 47 | 47 |
Commercial Mortgage Banking [Member] | Credit Default Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (1) | |||
Customer Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 33 | 10 | 100 | 68 |
Customer Contracts [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 10 | 15 | 44 | 25 |
Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 23 | (5) | 56 | 43 |
Other Risk Management Activity [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 141 | 29 | 263 | (20) |
Other Risk Management Activity [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 1 | 1 | (14) | |
Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 94 | 80 | 208 | 73 |
Other Risk Management Activity [Member] | Other Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ 47 | $ (52) | $ 54 | $ (79) |
Financial Derivatives (Deriva95
Financial Derivatives (Derivative Assets and Liabilitites Offsetting) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | $ 6,232 | $ 5,234 |
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 4,590 | 4,027 |
Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 4,590 | 4,027 |
Derivative Liability, Fair Value Offset Amount | 2,158 | 2,141 |
Derivative Liability, Cash Collateral | 562 | 503 |
Derivative Liability, Net Fair Value | 1,870 | 1,383 |
Derivative Liability, Net | 1,870 | 1,383 |
Exchange Cleared [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 1,300 | 657 |
Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 6,232 | 5,234 |
Derivative Asset, Fair Value Offset Amount | 2,158 | 2,141 |
Derivative Asset, Cash Collateral | 455 | 506 |
Derivative Asset, Net Fair Value | 3,619 | 2,587 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 245 | 144 |
Derivative Asset, Net | 3,374 | 2,443 |
Exchange Cleared [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 1,400 | 807 |
Interest Rate Contracts [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 3,905 | 3,272 |
Derivative Liability, Fair Value Offset Amount | 2,028 | 2,057 |
Derivative Liability, Cash Collateral | 539 | 483 |
Derivative Liability, Net Fair Value | 1,338 | 732 |
Derivative Liability, Net | 1,338 | 732 |
Interest Rate Contracts [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 5,871 | 4,918 |
Derivative Asset, Fair Value Offset Amount | 1,956 | 1,981 |
Derivative Asset, Cash Collateral | 432 | 458 |
Derivative Asset, Net Fair Value | 3,483 | 2,479 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 240 | 143 |
Derivative Asset, Net | 3,243 | 2,336 |
Foreign Exchange Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 251 | 241 |
Derivative Liability, Fair Value Offset Amount | 126 | 80 |
Derivative Liability, Cash Collateral | 22 | 20 |
Derivative Liability, Net Fair Value | 103 | 141 |
Derivative Liability, Net | 103 | 141 |
Foreign Exchange Contract [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 359 | 314 |
Derivative Asset, Fair Value Offset Amount | 201 | 159 |
Derivative Asset, Cash Collateral | 22 | 47 |
Derivative Asset, Net Fair Value | 136 | 108 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 5 | 1 |
Derivative Asset, Net | 131 | 107 |
Credit Risk Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 5 | 4 |
Derivative Liability, Fair Value Offset Amount | 4 | 4 |
Derivative Liability, Cash Collateral | 1 | |
Credit Risk Contract [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 2 | 2 |
Derivative Asset, Fair Value Offset Amount | 1 | 1 |
Derivative Asset, Cash Collateral | 1 | 1 |
Other Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 429 | 510 |
Derivative Liability, Net Fair Value | 429 | 510 |
Derivative Liability, Net | $ 429 | $ 510 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share Basic and Diluted [Line Items] | ||||
Net income | $ 1,073,000,000 | $ 1,038,000,000 | $ 3,121,000,000 | $ 3,150,000,000 |
Net income (loss) attributable to noncontrolling interests | 18,000,000 | 1,000,000 | 23,000,000 | 2,000,000 |
Preferred stock dividends and discount accretion and redemptions | 64,000,000 | 71,000,000 | 182,000,000 | 189,000,000 |
Net income attributable to common shares | 991,000,000 | 966,000,000 | 2,916,000,000 | 2,959,000,000 |
Dividends and undistributed earnings allocated to nonvested restricted shares | 3,000,000 | 2,000,000 | 9,000,000 | |
Net income attributable to basic common shares | 991,000,000 | 963,000,000 | 2,914,000,000 | 2,950,000,000 |
Less: Impact of BlackRock earnings per share dilution | 4,000,000 | 4,000,000 | 14,000,000 | 13,000,000 |
Net income attributable to diluted common shares | $ 987,000,000 | $ 959,000,000 | $ 2,900,000,000 | $ 2,937,000,000 |
Basic weighted-average common shares outstanding | 512 | 529 | 516 | 531 |
Basic earnings per common share (a) | $ 1.93 | $ 1.82 | $ 5.64 | $ 5.55 |
Dilutive potential common shares (b) (c) | 8 | 8 | 9 | 8 |
Diluted weighted-average common shares outstanding | 520 | 537 | 525 | 539 |
Diluted earnings per common share (a) | $ 1.9 | $ 1.79 | $ 5.52 | $ 5.45 |
Total Equity and Other Compre97
Total Equity and Other Comprehensive Income (Rollforward of Total Equity) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2013 | |
Common Stock [Abstract] | |||||
Common Stock, Beginning Balance | $ 2,705,000,000 | ||||
Capital surplus - Preferred Stock, Beginning Balance | 3,946,000,000 | ||||
Capital surplus - Common Stock, Beginning Balance | 12,627,000,000 | ||||
Retained Earnings, Beginning Balance | 26,200,000,000 | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 503,000,000 | ||||
Treasury Stock, Beginning Balance | 1,430,000,000 | ||||
Noncontrolling interests, Beginning Balance | 1,523,000,000 | ||||
Total Equity, Beginning Balance | 46,074,000,000 | $ 44,037,000,000 | |||
Net income | $ 1,073,000,000 | $ 1,038,000,000 | 3,121,000,000 | 3,150,000,000 | |
Other comprehensive income (loss), net of tax | 236,000,000 | (154,000,000) | 112,000,000 | 291,000,000 | |
Cash dividends declared [Abstract] | |||||
Common | (779,000,000) | (748,000,000) | |||
Preferred | (178,000,000) | (185,000,000) | |||
Common stock activity | 39,000,000 | 61,000,000 | |||
Treasury stock activity | (1,465,000,000) | (511,000,000) | |||
Other | (146,000,000) | (102,000,000) | |||
Common Stock, Ending Balance | 2,708,000,000 | 2,708,000,000 | |||
Capital surplus - Preferred Stock, Ending Balance | 3,450,000,000 | 3,450,000,000 | |||
Capital surplus - Common Stock, Ending Balance | 12,675,000,000 | 12,675,000,000 | |||
Retained Earnings, Ending Balance | 28,337,000,000 | 28,337,000,000 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 615,000,000 | 615,000,000 | |||
Treasury Stock, Ending Balance | 2,837,000,000 | 2,837,000,000 | |||
Noncontrolling interests, Ending Balance | 1,330,000,000 | 1,330,000,000 | |||
Total Equity, Ending Balance | $ 46,278,000,000 | $ 45,995,000,000 | $ 46,278,000,000 | 45,995,000,000 | |
Series K Preferred Stock [Member] | |||||
Cash dividends declared [Abstract] | |||||
Preferred stock redemption, shares | 50,000 | 50,000 | |||
Preferred stock redemption, value | $ (500,000,000) | $ (500,000,000) | |||
Depositary Shares [Member] | |||||
Cash dividends declared [Abstract] | |||||
Preferred stock redemption, shares | 500,000 | 500,000 | |||
Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Total Equity, Beginning Balance | $ 44,039,000,000 | ||||
Cash dividends declared [Abstract] | |||||
Cumulative effect adjustment | $ 2,000,000 | ||||
Common Stock [Member] | |||||
Common Stock [Abstract] | |||||
Beginning Balance (in shares) | 523,000,000 | 533,000,000 | |||
Common stock activity, shares | 1,000,000 | 1,000,000 | |||
Treasury stock activity, shares | (14,000,000) | (6,000,000) | |||
Ending Balance, (in shares) | 510,000,000 | 528,000,000 | 510,000,000 | 528,000,000 | |
Common Stock, Beginning Balance | $ 2,705,000,000 | $ 2,698,000,000 | |||
Cash dividends declared [Abstract] | |||||
Common stock activity | 3,000,000 | 5,000,000 | |||
Common Stock, Ending Balance | $ 2,708,000,000 | $ 2,703,000,000 | $ 2,708,000,000 | $ 2,703,000,000 | |
Common Stock Per Share Dividends Declared | $ 1.5 | $ 1.4 | |||
Common Stock [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Beginning Balance (in shares) | 533,000,000 | ||||
Common Stock, Beginning Balance | $ 2,698,000,000 | ||||
Preferred Stock Including Additional Paid in Capital [Member] | |||||
Common Stock [Abstract] | |||||
Capital surplus - Preferred Stock, Beginning Balance | $ 3,946,000,000 | 3,941,000,000 | |||
Cash dividends declared [Abstract] | |||||
Preferred stock discount accretion | 4,000,000 | 4,000,000 | |||
Capital surplus - Preferred Stock, Ending Balance | 3,450,000,000 | 3,945,000,000 | 3,450,000,000 | 3,945,000,000 | |
Preferred Stock Including Additional Paid in Capital [Member] | Series K Preferred Stock [Member] | |||||
Cash dividends declared [Abstract] | |||||
Preferred stock redemption, value | (500,000,000) | (500,000,000) | |||
Preferred Stock Including Additional Paid in Capital [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Capital surplus - Preferred Stock, Beginning Balance | 3,941,000,000 | ||||
Common Stock Including Additional Paid in Capital [Member] | |||||
Common Stock [Abstract] | |||||
Capital surplus - Common Stock, Beginning Balance | 12,627,000,000 | 12,416,000,000 | |||
Cash dividends declared [Abstract] | |||||
Common stock activity | 36,000,000 | 56,000,000 | |||
Treasury stock activity | (58,000,000) | 12,000,000 | |||
Other | 70,000,000 | 89,000,000 | |||
Capital surplus - Common Stock, Ending Balance | 12,675,000,000 | 12,573,000,000 | 12,675,000,000 | 12,573,000,000 | |
Common Stock Including Additional Paid in Capital [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Capital surplus - Common Stock, Beginning Balance | 12,416,000,000 | ||||
Retained Earnings [Member] | |||||
Common Stock [Abstract] | |||||
Retained Earnings, Beginning Balance | 26,200,000,000 | 23,251,000,000 | |||
Net income | 3,098,000,000 | 3,148,000,000 | |||
Cash dividends declared [Abstract] | |||||
Common | (779,000,000) | (748,000,000) | |||
Preferred | (178,000,000) | (185,000,000) | |||
Preferred stock discount accretion | (4,000,000) | (4,000,000) | |||
Retained Earnings, Ending Balance | 28,337,000,000 | 25,464,000,000 | 28,337,000,000 | 25,464,000,000 | |
Retained Earnings [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Retained Earnings, Beginning Balance | 23,253,000,000 | ||||
Cash dividends declared [Abstract] | |||||
Cumulative effect adjustment | $ 2,000,000 | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | |||||
Common Stock [Abstract] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 503,000,000 | 436,000,000 | |||
Other comprehensive income (loss), net of tax | 112,000,000 | 291,000,000 | |||
Cash dividends declared [Abstract] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 615,000,000 | 727,000,000 | 615,000,000 | 727,000,000 | |
Accumulated Other Comprehensive Income (Loss) [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 436,000,000 | ||||
Treasury Stock [Member] | |||||
Common Stock [Abstract] | |||||
Treasury Stock, Beginning Balance | (1,430,000,000) | (408,000,000) | |||
Cash dividends declared [Abstract] | |||||
Treasury stock activity | (1,407,000,000) | (523,000,000) | |||
Treasury Stock, Ending Balance | (2,837,000,000) | (931,000,000) | (2,837,000,000) | (931,000,000) | |
Treasury Stock [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Treasury Stock, Beginning Balance | (408,000,000) | ||||
Noncontrolling Interest [Member] | |||||
Common Stock [Abstract] | |||||
Noncontrolling interests, Beginning Balance | 1,523,000,000 | 1,703,000,000 | |||
Net income | 23,000,000 | 2,000,000 | |||
Cash dividends declared [Abstract] | |||||
Other | (216,000,000) | (191,000,000) | |||
Noncontrolling interests, Ending Balance | $ 1,330,000,000 | $ 1,514,000,000 | $ 1,330,000,000 | 1,514,000,000 | |
Noncontrolling Interest [Member] | Cumulative effect of adopting ASC 860-50 [Member] | |||||
Common Stock [Abstract] | |||||
Noncontrolling interests, Beginning Balance | $ 1,703,000,000 |
Total Equity and Other Compre98
Total Equity and Other Comprehensive Income (Other Comprehensive Income) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||||
Net unrealized gains (losses) on non-OTTI securities, pretax, Beginning Balance | $ 731,000,000 | $ 1,048,000,000 | $ 1,022,000,000 | $ 647,000,000 |
Net unrealized gains (losses) on non-OTTI securities, tax, Beginning Balance | (268,000,000) | (385,000,000) | (375,000,000) | (238,000,000) |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Beginning Balance | 463,000,000 | 663,000,000 | 647,000,000 | 409,000,000 |
Increase in net unrealized gains (losses) on non-OTTI securities, Pretax | 139,000,000 | (125,000,000) | (75,000,000) | 296,000,000 |
Increase in net unrealized gains (losses) on non-OTTI securities, Tax | (52,000,000) | 46,000,000 | 27,000,000 | (108,000,000) |
Increase in net unrealized gains (losses) on non-OTTI securities, After tax | 87,000,000 | (79,000,000) | (48,000,000) | 188,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, before tax | 6,000,000 | 7,000,000 | 20,000,000 | 21,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, tax | (2,000,000) | (3,000,000) | (7,000,000) | (8,000,000) |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, after tax | 4,000,000 | 4,000,000 | 13,000,000 | 13,000,000 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, before tax | (21,000,000) | 42,000,000 | 6,000,000 | |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, tax | 7,000,000 | (16,000,000) | (2,000,000) | |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, after tax | (14,000,000) | 26,000,000 | 4,000,000 | |
Net unrealized gains (losses) on non-OTTI securities | 154,000,000 | (132,000,000) | (137,000,000) | 269,000,000 |
Net unrealized gains (losses) on non-OTTI securities, Activity, Tax | (57,000,000) | 49,000,000 | 50,000,000 | (98,000,000) |
Net unrealized gains (losses) on non-OTTI securities, Activity, After Tax | 97,000,000 | (83,000,000) | (87,000,000) | 171,000,000 |
Net unrealized gains (losses) on non-OTTI securities, pretax, Ending Balance | 885,000,000 | 916,000,000 | 885,000,000 | 916,000,000 |
Net unrealized gains (losses) on non-OTTI securities, tax, Ending Balance | (325,000,000) | (336,000,000) | (325,000,000) | (336,000,000) |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Ending Balance | 560,000,000 | 580,000,000 | 560,000,000 | 580,000,000 |
Net Unrealized Gains Losses on Otti Securities [Abstract] | ||||
Net unrealized gains (losses) on OTTI securities, before tax, Beginning Balance | 122,000,000 | 143,000,000 | 115,000,000 | 36,000,000 |
Net unrealized gains (losses) on OTTI securities, tax, Beginning Balance | (44,000,000) | (51,000,000) | (41,000,000) | (12,000,000) |
Net unrealized gains (losses) on OTTI securities, after tax, Beginning Balance | 78,000,000 | 92,000,000 | 74,000,000 | 24,000,000 |
Increase in net unrealized gains (losses) on OTTI securities, Pretax | 3,000,000 | 14,000,000 | 8,000,000 | 118,000,000 |
Increase in net unrealized gains (losses) on OTTI securities, Tax | (1,000,000) | (5,000,000) | (3,000,000) | (43,000,000) |
Increase in net unrealized gains (losses) on OTTI securities, After tax | 2,000,000 | 9,000,000 | 5,000,000 | 75,000,000 |
Net other-than-temporary impairments | (1,000,000) | (1,000,000) | (3,000,000) | (4,000,000) |
Less: Net OTTI losses realized in noninterest income, Tax | 1,000,000 | 1,000,000 | 2,000,000 | |
Less: Other OTTI losses realized in noninterest income, After-tax | (1,000,000) | (2,000,000) | (2,000,000) | |
Net unrealized gains (losses) on OTTI securities, Activity, Before Tax | 4,000,000 | 15,000,000 | 11,000,000 | 122,000,000 |
Net unrealized gains (losses) on OTTI securities, Activity, Tax | (1,000,000) | (6,000,000) | (4,000,000) | (45,000,000) |
Net unrealized gains (losses) on OTTI securities, Activity, After Tax | 3,000,000 | 9,000,000 | 7,000,000 | 77,000,000 |
Net unrealized gains (losses) on OTTI securities, before tax, Ending Balance | 126,000,000 | 158,000,000 | 126,000,000 | 158,000,000 |
Net unrealized gains (losses) on OTTI securities, tax, Ending Balance | (45,000,000) | (57,000,000) | (45,000,000) | (57,000,000) |
Net unrealized gains (losses) on OTTI securities, after tax, Ending Balance | 81,000,000 | 101,000,000 | 81,000,000 | 101,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives [Abstract] | ||||
Net unrealized gains (losses) on cash flow hedge derivatives, before tax, Beginning Balance | 621,000,000 | 460,000,000 | 552,000,000 | 384,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, tax, Beginning balance | (227,000,000) | (168,000,000) | (202,000,000) | (141,000,000) |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Beginning balance | 394,000,000 | 292,000,000 | 350,000,000 | 243,000,000 |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Pretax | 326,000,000 | (17,000,000) | 522,000,000 | 193,000,000 |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Tax | (119,000,000) | 6,000,000 | (191,000,000) | (72,000,000) |
Increase in net unrealized gains (losses) on cash flow hedge derivatives, After tax | 207,000,000 | (11,000,000) | 331,000,000 | 121,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Before Tax | 74,000,000 | 61,000,000 | 202,000,000 | 191,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Tax | (27,000,000) | (22,000,000) | (74,000,000) | (70,000,000) |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, After Tax | 47,000,000 | 39,000,000 | 128,000,000 | 121,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Before Tax | 6,000,000 | 3,000,000 | 18,000,000 | 9,000,000 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Tax | (2,000,000) | (1,000,000) | (7,000,000) | (4,000,000) |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, After Tax | 4,000,000 | 2,000,000 | 11,000,000 | 5,000,000 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Before Tax | 12,000,000 | (1,000,000) | (2,000,000) | |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Tax | (4,000,000) | 1,000,000 | ||
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, After Tax | 8,000,000 | (2,000,000) | ||
Net unrealized gains (losses) on cash flow hedge derivatives, Before Tax | 234,000,000 | (81,000,000) | 303,000,000 | (5,000,000) |
Net unrealized gains (losses) on cash flow hedge derivatives, tax | (86,000,000) | 29,000,000 | (111,000,000) | 2,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, Net of tax, Total | 148,000,000 | (52,000,000) | 192,000,000 | (3,000,000) |
Net unrealized gains (losses) on cash flow hedge derivatives, before tax, Ending Balance | 855,000,000 | 379,000,000 | 855,000,000 | 379,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives Ending balance, tax | (313,000,000) | (139,000,000) | (313,000,000) | (139,000,000) |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Ending balance | 542,000,000 | 240,000,000 | 542,000,000 | 240,000,000 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||||
Pension and other postretirement benefit plan adjustments, before tax, Beginning Balance | (770,000,000) | (283,000,000) | (820,000,000) | (374,000,000) |
Pension and other postretirement benefit plan adjustments, tax, Beginning Balance | 282,000,000 | 103,000,000 | 300,000,000 | 137,000,000 |
Pension and other postretirement benefit plan adjustments, after tax, Beginning Balance | (488,000,000) | (180,000,000) | (520,000,000) | (237,000,000) |
Net pension and other postretirement benefit plan activity, Before tax | 36,000,000 | 93,000,000 | ||
Net pension and other postretirement benefit plan activity, Tax | (13,000,000) | (35,000,000) | ||
Net pension and other postretirement benefit plan activity, After tax | 23,000,000 | 58,000,000 | ||
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Before tax | 10,000,000 | 1,000,000 | 28,000,000 | 3,000,000 |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Tax | (3,000,000) | (10,000,000) | (1,000,000) | |
Amortization of actuarial loss (gain) reclassified to other noninterest expense, After tax | 7,000,000 | 1,000,000 | 18,000,000 | 2,000,000 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Before tax | (3,000,000) | (3,000,000) | (7,000,000) | (7,000,000) |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Tax | 1,000,000 | 1,000,000 | 3,000,000 | 3,000,000 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, After tax | (2,000,000) | (2,000,000) | (4,000,000) | (4,000,000) |
Pension and other postretirement benefit plan adjustments, net activity, Before tax | 7,000,000 | (2,000,000) | 57,000,000 | 89,000,000 |
Pension and other postretirement benefit plan adjustments, net activity, Tax | (2,000,000) | 1,000,000 | (20,000,000) | (33,000,000) |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | 5,000,000 | (1,000,000) | 37,000,000 | 56,000,000 |
Pension and other postretirement benefit plan adjustments, before tax, Ending Balance | (763,000,000) | (285,000,000) | (763,000,000) | (285,000,000) |
Pension and other postretirement benefit plan adjustments Ending balance, tax | 280,000,000 | 104,000,000 | 280,000,000 | 104,000,000 |
Pension and other postretirement benefit plan adjustments, after tax, Ending Balance | (483,000,000) | (181,000,000) | (483,000,000) | (181,000,000) |
Other Comprehensive Income Other Adjustments [Abstract] | ||||
Other, pretax, Beginning Balance | (95,000,000) | (13,000,000) | (59,000,000) | (20,000,000) |
Other, tax, Beginning Balance | 27,000,000 | 27,000,000 | 11,000,000 | 17,000,000 |
Other, after tax, Beginning balance | (68,000,000) | 14,000,000 | (48,000,000) | (3,000,000) |
PNC's portion of BlackRock's OCI, Before tax | (10,000,000) | (34,000,000) | (3,000,000) | |
PNC's portion of BlackRock's OCI, Tax | 4,000,000 | 12,000,000 | 2,000,000 | |
PNC's portion of BlackRock's OCI, After tax | (6,000,000) | (22,000,000) | (1,000,000) | |
Net investment hedge derivatives, Before tax | 43,000,000 | 51,000,000 | 32,000,000 | 18,000,000 |
Net investment hedge derivatives, Tax | (16,000,000) | (19,000,000) | (12,000,000) | (7,000,000) |
Net investment hedge derivatives, After tax | 27,000,000 | 32,000,000 | 20,000,000 | 11,000,000 |
Foreign Currency Transaction and Translation Adjustment, before Tax | (44,000,000) | (53,000,000) | (35,000,000) | (20,000,000) |
Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | (44,000,000) | (53,000,000) | (35,000,000) | (20,000,000) |
Total Other, net activity, Before tax | (1,000,000) | (12,000,000) | (37,000,000) | (5,000,000) |
Total Other, net activity, Tax | (16,000,000) | (15,000,000) | (5,000,000) | |
Total Other, net activity, After tax | (17,000,000) | (27,000,000) | (37,000,000) | (10,000,000) |
Other, pretax, Ending Balance | (96,000,000) | (25,000,000) | (96,000,000) | (25,000,000) |
Other, tax, Ending Balance | 11,000,000 | 12,000,000 | 11,000,000 | 12,000,000 |
Other, after tax, Ending balance | $ (85,000,000) | $ (13,000,000) | $ (85,000,000) | $ (13,000,000) |
Total Equity and Other Compre99
Total Equity and Other Comprehensive Income (Accumulated Other Comprehensive Income (Loss) Components) (Details) - USD ($) | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Other Comprehensive Income [Abstract] | ||||||
Net unrealized gains (losses) on non-OTTI securities, pretax | $ 885,000,000 | $ 731,000,000 | $ 1,022,000,000 | $ 916,000,000 | $ 1,048,000,000 | $ 647,000,000 |
Net unrealized gains (losses) on non-OTTI securities, after-tax | 560,000,000 | 463,000,000 | 647,000,000 | 580,000,000 | 663,000,000 | 409,000,000 |
Net unrealized gains (losses) on OTTI securities, before tax | 126,000,000 | 122,000,000 | 115,000,000 | 158,000,000 | 143,000,000 | 36,000,000 |
Net unrealized gains (losses) on OTTI securities, after tax | 81,000,000 | 78,000,000 | 74,000,000 | 101,000,000 | 92,000,000 | 24,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, before tax | 855,000,000 | 621,000,000 | 552,000,000 | 379,000,000 | 460,000,000 | 384,000,000 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax | 542,000,000 | 394,000,000 | 350,000,000 | 240,000,000 | 292,000,000 | 243,000,000 |
Pension and other postretirement benefit plan adjustments, before tax | (763,000,000) | (770,000,000) | (820,000,000) | (285,000,000) | (283,000,000) | (374,000,000) |
Pension and other postretirement benefit plan adjustments, after-tax | (483,000,000) | (488,000,000) | (520,000,000) | (181,000,000) | (180,000,000) | (237,000,000) |
Other, pretax | (96,000,000) | (95,000,000) | (59,000,000) | (25,000,000) | (13,000,000) | (20,000,000) |
Other, after tax | (85,000,000) | $ (68,000,000) | (48,000,000) | $ (13,000,000) | $ 14,000,000 | $ (3,000,000) |
Accumulated other comprehensive income (loss), pretax | 1,007,000,000 | 810,000,000 | ||||
Accumulated other comprehensive income (loss), after-tax | $ 615,000,000 | $ 503,000,000 |
Total Equity and Other Compr100
Total Equity and Other Comprehensive Income (Narrative) (Details) - TARP Warrant [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Number of warrants or rights outstanding | 13,385,615 | 16,885,192 |
Exercise price per share of warrants or rights outstanding | $ 67.33 | $ 67.33 |
Class Of Warrant Or Right Exercised | 3,499,577 | |
Shares Issued To Exercising Warrant Holders [Member] | ||
Class Of Warrant Or Right Shares Issued | 1,059,612 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | |||
Unrecognized tax benefits that would favorably impact the effective tax rate | $ 23,000,000 | $ 23,000,000 | |
Estimated change in balance of unrecognized tax benefits, within the next twelve months | 10,000,000 | 10,000,000 | |
Unrecognized tax benefits | 30,000,000 | 30,000,000 | $ 77,000,000 |
Cumulative effect of adopting ASU 2014-01 [Member] | Low Income Housing Tax Credit Investments [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Amortization recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 52,000,000 | 154,000,000 | |
Tax credits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 56,000,000 | 167,000,000 | |
Other tax benefits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 19,000,000 | 56,000,000 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net Operating Loss Carryforwards | 2,433,000,000 | 2,433,000,000 | 2,594,000,000 |
Tax Credit Carryforward Valuation Allowance | 63,000,000 | $ 63,000,000 | |
Operating Loss Carryforwards Earliest Expiration Date | 2,015 | ||
Operating Loss Carryforwards Latest Expiration Date | 2,035 | ||
Reduction of state net operating losses | 60,000,000 | $ 60,000,000 | |
Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net Operating Loss Carryforwards | $ 918,000,000 | $ 918,000,000 | $ 997,000,000 |
Operating Loss Carryforwards Expiration Date | Dec. 31, 2032 | ||
Tax Credit Carryforward Expiration Date | Dec. 31, 2032 | ||
Income Tax Examination Earliest Year Under Examination | 2,011 | ||
Income Tax Examination Latest Year Under Examination | 2,013 |
Income Taxes (Net Operating Los
Income Taxes (Net Operating Loss Carryforwards and Tax Credit Carryforwards) (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carryforwards | $ 918,000,000 | $ 997,000,000 |
Tax Credit Carryforward | 35,000,000 | 35,000,000 |
State and Local Jurisdiction [Member] | ||
Net Operating Loss Carryforwards | 2,433,000,000 | 2,594,000,000 |
Tax Credit Carryforward | $ 7,000,000 | $ 7,000,000 |
Legal Proceedings (Details)
Legal Proceedings (Details) - Maximum [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2015USD ($) | |
DD Growth Premium Master Fund [Member] | Loss in NAV of the Fund [Member] | |
Loss Contingencies [Line Items] | |
Damages sought | $ 283 |
DD Growth Premium Master Fund [Member] | Loss of Certain Subscriptions Paid into the Fund [Member] | |
Loss Contingencies [Line Items] | |
Damages sought | 134 |
Legal Reserve [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, range of possible loss not accrued | $ 725 |
Commitments and Guarantees (Nar
Commitments and Guarantees (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Total Indemnification and Repurchase Liability | ||
Loss Contingencies [Line Items] | ||
Reserves, Ending balance | $ 117 | |
Residential Mortgage [Member] | Total Indemnification and Repurchase Liability | ||
Loss Contingencies [Line Items] | ||
Reserves, Ending balance | $ 95 | |
Standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Standby letters of credit - Terms outstanding - Minimum | 1 year | |
Standby letters of credit - Terms outstanding - Maximum | 7 years | |
Standby letters of credit - Assets securing certain specifically identified standby letters of credit | $ 1,000 | |
Standby letters of credit and participations in standby letters of credit - Liability carrying amount | 182 | |
Guarantee Of Indebtedness Of Others [Member] | Commercial Mortgage [Member] | ||
Loss Contingencies [Line Items] | ||
Commercial mortgage recourse obligations - Unpaid principal balance of loans sold | 13,000 | $ 12,300 |
Maximum Exposure | 3,900 | 3,700 |
Reserves, Ending balance | 38 | |
Guarantee Of Indebtedness Of Others [Member] | Residential Mortgage [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Loss contingency, range of possible loss not accrued | 78 | |
Resale Agreements [Member] | ||
Loss Contingencies [Line Items] | ||
Fair value adjustment on resale agreements | $ 5 | $ 7 |
Commitments and Guarantees (Oth
Commitments and Guarantees (Other Commitments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Other Commitments [Line Items] | ||
Commitments | $ 154,494 | $ 154,937 |
Commitments to extend credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 141,370 | 138,592 |
Commitments to extend credit [Member] | Total commercial lending [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 100,323 | 98,742 |
Commitments to extend credit [Member] | Home Equity Lines of Credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 17,350 | 17,839 |
Commitments to extend credit [Member] | Credit Card [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 19,622 | 17,833 |
Commitments to extend credit [Member] | Other [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 4,075 | 4,178 |
Standby letters of credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 9,112 | 9,991 |
Standby letters of credit [Member] | Remarketing Programs [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 4,900 | 5,200 |
Reinsurance Agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 2,054 | 4,297 |
Standby bond purchase agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 968 | 1,095 |
Other commitments [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 990 | 962 |
Other commitments [Member] | Investments in qualified affordable housing projects [Member] | ||
Other Commitments [Line Items] | ||
Commitments | $ 441 | $ 441 |
Commitments and Guarantees (Int
Commitments and Guarantees (Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit) (Details) - Standby letters of credit [Member] | Sep. 30, 2015 | Dec. 31, 2014 |
Loss Contingencies [Line Items] | ||
Internal credit ratings (as a percentage of portfolio) - Pass | 94.00% | 95.00% |
Internal credit ratings (as a percentage of portfolio) - Below pass | 6.00% | 5.00% |
Commitments and Guarantees (Rei
Commitments and Guarantees (Reinsurance Agreements Exposure and Reserves) (Details) - Reinsurance Agreements [Member] - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Loss Contingencies [Line Items] | |||
Maximum Exposure | $ 2,054 | $ 4,297 | |
Reserves, Beginning balance | 13 | $ 32 | |
Paid Losses | (8) | (17) | |
Net Provision | 5 | 10 | |
Changes to Agreements | (10) | ||
Reserves, Ending balance | 10 | $ 15 | |
Accidental Death and Dismemberment [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 1,678 | 1,774 | |
Credit Life, Accident and Health [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 376 | 467 | |
Lender Placed Hazard [Member] | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | 2,056 | ||
Maximum Exposure to Quota Share Agreements with 100% Reinsurance | |||
Loss Contingencies [Line Items] | |||
Maximum Exposure | $ 375 | $ 466 |
Commitments and Guarantees (Ana
Commitments and Guarantees (Analysis of Commercial Mortgage Recourse Obligations) (Details) - Guarantee Of Indebtedness Of Others [Member] - Commercial Mortgage [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Loss Contingencies [Line Items] | ||
Reserves, Beginning balance | $ 35 | $ 33 |
Reserve adjustments, net | 3 | 3 |
Reserves, Ending balance | $ 38 | $ 36 |
Commitments and Guarantees (109
Commitments and Guarantees (Analysis of Indemnification and Repurchase Liability for Asserted and Unasserted Claims) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Total Indemnification and Repurchase Liability | ||
Loss Contingencies [Line Items] | ||
Reserves, Beginning balance | $ 136 | $ 153 |
Reserve adjustments, net | (1) | 10 |
Losses - loan repurchases and settlements | (18) | (31) |
Reserves, Ending balance | 117 | 132 |
Residential Mortgages [Member] | ||
Loss Contingencies [Line Items] | ||
UPB of loan portfolio associated with repurchase obligation [Member] | 66,000 | 69,000 |
Residential Mortgages [Member] | Total Indemnification and Repurchase Liability | ||
Loss Contingencies [Line Items] | ||
Reserves, Beginning balance | 107 | 131 |
Reserve adjustments, net | 4 | (4) |
Losses - loan repurchases and settlements | (16) | (19) |
Reserves, Ending balance | 95 | 108 |
Home Equity [Member] | ||
Loss Contingencies [Line Items] | ||
UPB of loan portfolio associated with repurchase obligation [Member] | 2,200 | 2,600 |
Home Equity [Member] | Total Indemnification and Repurchase Liability | ||
Loss Contingencies [Line Items] | ||
Reserves, Beginning balance | 29 | 22 |
Reserve adjustments, net | (5) | 14 |
Losses - loan repurchases and settlements | (2) | (12) |
Reserves, Ending balance | $ 22 | $ 24 |
Commitments and Guarantees (Res
Commitments and Guarantees (Resale and Repurchase Agreements) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Offsetting Assets [Line Items] | ||
Gross Resale Agreements | $ 1,143 | $ 1,646 |
Net Resale Agreements | 1,143 | 1,646 |
Securities Collateral Held Under Master Netting Agreements | 1,069 | 1,569 |
Net Amounts | 74 | 77 |
Offsetting Liabilities [Line Items] | ||
Gross Repurchase Agreements | 2,003 | 3,406 |
Net Repurchase Agreements | 2,003 | 3,406 |
Securities Collateral Pledged Under Master Netting Agreements | 1,183 | 2,580 |
Net Amounts | 820 | 826 |
Accrued Interest Expense [Member] | ||
Offsetting Liabilities [Line Items] | ||
Net Repurchase Agreements | 0 | 0 |
Long Term Repurchase Agreements [Member] | ||
Offsetting Liabilities [Line Items] | ||
Net Repurchase Agreements | 0 | 0 |
Accrued Interest Income [Member] | ||
Offsetting Assets [Line Items] | ||
Net Resale Agreements | $ 0 | $ 1 |
Commitments and Guarantees (Rep
Commitments and Guarantees (Repurchase Agreement By Type Of Collateral Pledged) (Details) - Overnight or Continuous [Member] $ in Millions | Sep. 30, 2015USD ($) |
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | |
Gross Repurchase Agreements | $ 2,003 |
US Treasury and Government Agency Securities [Member] | |
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | |
Gross Repurchase Agreements | 88 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | |
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | |
Gross Repurchase Agreements | 1,847 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | |
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | |
Gross Repurchase Agreements | $ 68 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Segment Reporting Information [Line Items] | ||
Segment reporting, number of segments | 6 | |
BlackRock [Member] | ||
Segment Reporting Information [Line Items] | ||
PNC's economic interest in BlackRock | 22.00% | |
Proceeds from dividends received | $ 240 | $ 214 |
Segment Reporting (Table) (Deta
Segment Reporting (Table) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 2,062,000,000 | $ 2,104,000,000 | $ 6,186,000,000 | $ 6,428,000,000 |
Noninterest income | 1,713,000,000 | 1,737,000,000 | 5,186,000,000 | 5,000,000,000 |
Total revenue | 3,775,000,000 | 3,841,000,000 | 11,372,000,000 | 11,428,000,000 |
Provision for credit losses (benefit) | 81,000,000 | 55,000,000 | 181,000,000 | 221,000,000 |
Depreciation and amortization | 201,000,000 | 194,000,000 | 595,000,000 | 560,000,000 |
Other noninterest expense | 2,151,000,000 | 2,163,000,000 | 6,472,000,000 | 6,389,000,000 |
Income (loss) before income taxes and noncontrolling interests | 1,342,000,000 | 1,429,000,000 | 4,124,000,000 | 4,258,000,000 |
Income taxes | 269,000,000 | 391,000,000 | 1,003,000,000 | 1,108,000,000 |
Net income (loss) | 1,073,000,000 | 1,038,000,000 | 3,121,000,000 | 3,150,000,000 |
Average Assets | 358,587,000,000 | 329,445,000,000 | 353,133,000,000 | 323,878,000,000 |
Retail Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 1,068,000,000 | 983,000,000 | 3,150,000,000 | 2,936,000,000 |
Noninterest income | 574,000,000 | 536,000,000 | 1,652,000,000 | 1,591,000,000 |
Total revenue | 1,642,000,000 | 1,519,000,000 | 4,802,000,000 | 4,527,000,000 |
Provision for credit losses (benefit) | 57,000,000 | 74,000,000 | 151,000,000 | 223,000,000 |
Depreciation and amortization | 42,000,000 | 43,000,000 | 127,000,000 | 131,000,000 |
Other noninterest expense | 1,148,000,000 | 1,132,000,000 | 3,431,000,000 | 3,299,000,000 |
Income (loss) before income taxes and noncontrolling interests | 395,000,000 | 270,000,000 | 1,093,000,000 | 874,000,000 |
Income taxes | 144,000,000 | 97,000,000 | 399,000,000 | 318,000,000 |
Net income (loss) | 251,000,000 | 173,000,000 | 694,000,000 | 556,000,000 |
Inter-segment revenue | 0 | 2,000,000 | 1,000,000 | 4,000,000 |
Average Assets | 72,916,000,000 | 74,682,000,000 | 73,430,000,000 | 75,264,000,000 |
Corporate & Institutional Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 855,000,000 | 890,000,000 | 2,515,000,000 | 2,681,000,000 |
Noninterest income | 476,000,000 | 464,000,000 | 1,397,000,000 | 1,255,000,000 |
Total revenue | 1,331,000,000 | 1,354,000,000 | 3,912,000,000 | 3,936,000,000 |
Provision for credit losses (benefit) | 46,000,000 | (4,000,000) | 83,000,000 | 86,000,000 |
Depreciation and amortization | 36,000,000 | 33,000,000 | 109,000,000 | 96,000,000 |
Other noninterest expense | 497,000,000 | 495,000,000 | 1,485,000,000 | 1,424,000,000 |
Income (loss) before income taxes and noncontrolling interests | 752,000,000 | 830,000,000 | 2,235,000,000 | 2,330,000,000 |
Income taxes | 250,000,000 | 281,000,000 | 743,000,000 | 788,000,000 |
Net income (loss) | 502,000,000 | 549,000,000 | 1,492,000,000 | 1,542,000,000 |
Inter-segment revenue | 7,000,000 | 13,000,000 | 20,000,000 | 18,000,000 |
Average Assets | 131,613,000,000 | 123,671,000,000 | 131,678,000,000 | 121,232,000,000 |
Asset Management Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 71,000,000 | 72,000,000 | 215,000,000 | 215,000,000 |
Noninterest income | 207,000,000 | 205,000,000 | 658,000,000 | 611,000,000 |
Total revenue | 278,000,000 | 277,000,000 | 873,000,000 | 826,000,000 |
Provision for credit losses (benefit) | (2,000,000) | (4,000,000) | 11,000,000 | 2,000,000 |
Depreciation and amortization | 10,000,000 | 10,000,000 | 33,000,000 | 31,000,000 |
Other noninterest expense | 201,000,000 | 199,000,000 | 603,000,000 | 579,000,000 |
Income (loss) before income taxes and noncontrolling interests | 69,000,000 | 72,000,000 | 226,000,000 | 214,000,000 |
Income taxes | 25,000,000 | 26,000,000 | 83,000,000 | 78,000,000 |
Net income (loss) | 44,000,000 | 46,000,000 | 143,000,000 | 136,000,000 |
Inter-segment revenue | 2,000,000 | 3,000,000 | 7,000,000 | 9,000,000 |
Average Assets | 7,902,000,000 | 7,775,000,000 | 7,922,000,000 | 7,687,000,000 |
Residential Mortgage Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 31,000,000 | 38,000,000 | 91,000,000 | 115,000,000 |
Noninterest income | 135,000,000 | 147,000,000 | 488,000,000 | 503,000,000 |
Total revenue | 166,000,000 | 185,000,000 | 579,000,000 | 618,000,000 |
Provision for credit losses (benefit) | 2,000,000 | (1,000,000) | 2,000,000 | (1,000,000) |
Depreciation and amortization | 4,000,000 | 3,000,000 | 11,000,000 | 9,000,000 |
Other noninterest expense | 167,000,000 | 165,000,000 | 499,000,000 | 541,000,000 |
Income (loss) before income taxes and noncontrolling interests | (7,000,000) | 18,000,000 | 67,000,000 | 69,000,000 |
Income taxes | (3,000,000) | 6,000,000 | 24,000,000 | 25,000,000 |
Net income (loss) | (4,000,000) | 12,000,000 | 43,000,000 | 44,000,000 |
Inter-segment revenue | 5,000,000 | 13,000,000 | 14,000,000 | 25,000,000 |
Average Assets | 6,513,000,000 | 7,418,000,000 | 6,962,000,000 | 7,889,000,000 |
BlackRock [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Noninterest income | 181,000,000 | 196,000,000 | 532,000,000 | 528,000,000 |
Total revenue | 181,000,000 | 196,000,000 | 532,000,000 | 528,000,000 |
Income (loss) before income taxes and noncontrolling interests | 181,000,000 | 196,000,000 | 532,000,000 | 528,000,000 |
Income taxes | 42,000,000 | 50,000,000 | 125,000,000 | 129,000,000 |
Net income (loss) | 139,000,000 | 146,000,000 | 407,000,000 | 399,000,000 |
Inter-segment revenue | 3,000,000 | 4,000,000 | 11,000,000 | 12,000,000 |
Average Assets | 6,813,000,000 | 6,562,000,000 | 6,813,000,000 | 6,562,000,000 |
Non Strategic Assets [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 90,000,000 | 146,000,000 | 302,000,000 | 425,000,000 |
Noninterest income | 16,000,000 | 6,000,000 | 34,000,000 | 22,000,000 |
Total revenue | 106,000,000 | 152,000,000 | 336,000,000 | 447,000,000 |
Provision for credit losses (benefit) | (25,000,000) | (8,000,000) | (61,000,000) | (99,000,000) |
Other noninterest expense | 23,000,000 | 30,000,000 | 73,000,000 | 86,000,000 |
Income (loss) before income taxes and noncontrolling interests | 108,000,000 | 130,000,000 | 324,000,000 | 460,000,000 |
Income taxes | 40,000,000 | 48,000,000 | 119,000,000 | 169,000,000 |
Net income (loss) | 68,000,000 | 82,000,000 | 205,000,000 | 291,000,000 |
Inter-segment revenue | (2,000,000) | (7,000,000) | (6,000,000) | (15,000,000) |
Average Assets | 6,460,000,000 | 8,231,000,000 | 6,880,000,000 | 8,563,000,000 |
All Other Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | (53,000,000) | (25,000,000) | (87,000,000) | 56,000,000 |
Noninterest income | 124,000,000 | 183,000,000 | 425,000,000 | 490,000,000 |
Total revenue | 71,000,000 | 158,000,000 | 338,000,000 | 546,000,000 |
Provision for credit losses (benefit) | 3,000,000 | (2,000,000) | (5,000,000) | 10,000,000 |
Depreciation and amortization | 109,000,000 | 105,000,000 | 315,000,000 | 293,000,000 |
Other noninterest expense | 115,000,000 | 142,000,000 | 381,000,000 | 460,000,000 |
Income (loss) before income taxes and noncontrolling interests | (156,000,000) | (87,000,000) | (353,000,000) | (217,000,000) |
Income taxes | (229,000,000) | (117,000,000) | (490,000,000) | (399,000,000) |
Net income (loss) | 73,000,000 | 30,000,000 | 137,000,000 | 182,000,000 |
Inter-segment revenue | (15,000,000) | (28,000,000) | (47,000,000) | (53,000,000) |
Average Assets | $ 126,370,000,000 | $ 101,106,000,000 | $ 119,448,000,000 | $ 96,681,000,000 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Events [Member] - Senior Notes [Member] $ in Millions | Nov. 03, 2015USD ($) |
Maturity Date 2018 [Member] | |
Subsequent Event [Line Items] | |
Debt Instrument - Face value | $ 1,000 |
Debt Instrument - Maturity Date | Nov. 5, 2018 |
Debt Instrument - Fixed interest rate payable | 1.80% |
Maturity Date 2020 [Member] | |
Subsequent Event [Line Items] | |
Debt Instrument - Face value | $ 750 |
Debt Instrument - Maturity Date | Nov. 5, 2020 |
Debt Instrument - Fixed interest rate payable | 2.45% |