Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 21, 2016 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
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 | 486,501,562 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Income | ||||
Loans | $ 1,856,000,000 | $ 1,804,000,000 | $ 5,528,000,000 | $ 5,397,000,000 |
Investment securities | 451,000,000 | 423,000,000 | 1,369,000,000 | 1,236,000,000 |
Other | 101,000,000 | 114,000,000 | 302,000,000 | 332,000,000 |
Total interest income | 2,408,000,000 | 2,341,000,000 | 7,199,000,000 | 6,965,000,000 |
Interest Expense | ||||
Deposits | 107,000,000 | 107,000,000 | 316,000,000 | 297,000,000 |
Borrowed funds | 206,000,000 | 172,000,000 | 622,000,000 | 482,000,000 |
Total interest expense | 313,000,000 | 279,000,000 | 938,000,000 | 779,000,000 |
Net interest income | 2,095,000,000 | 2,062,000,000 | 6,261,000,000 | 6,186,000,000 |
Noninterest Income | ||||
Asset management | 404,000,000 | 376,000,000 | 1,122,000,000 | 1,168,000,000 |
Consumer services | 348,000,000 | 341,000,000 | 1,039,000,000 | 986,000,000 |
Corporate services | 389,000,000 | 384,000,000 | 1,117,000,000 | 1,097,000,000 |
Residential mortgage | 160,000,000 | 125,000,000 | 425,000,000 | 453,000,000 |
Service charges on deposits | 174,000,000 | 172,000,000 | 495,000,000 | 481,000,000 |
Net gains on sales of securities | 7,000,000 | (9,000,000) | 20,000,000 | 41,000,000 |
Other | 252,000,000 | 324,000,000 | 809,000,000 | 960,000,000 |
Total noninterest income | 1,734,000,000 | 1,713,000,000 | 5,027,000,000 | 5,186,000,000 |
Total revenue | 3,829,000,000 | 3,775,000,000 | 11,288,000,000 | 11,372,000,000 |
Provision For Credit Losses | 87,000,000 | 81,000,000 | 366,000,000 | 181,000,000 |
Noninterest Expense | ||||
Personnel | 1,239,000,000 | 1,222,000,000 | 3,610,000,000 | 3,579,000,000 |
Occupancy | 215,000,000 | 209,000,000 | 651,000,000 | 634,000,000 |
Equipment | 246,000,000 | 227,000,000 | 720,000,000 | 680,000,000 |
Marketing | 72,000,000 | 64,000,000 | 187,000,000 | 193,000,000 |
Other | 622,000,000 | 630,000,000 | 1,867,000,000 | 1,981,000,000 |
Total noninterest expense | 2,394,000,000 | 2,352,000,000 | 7,035,000,000 | 7,067,000,000 |
Income (loss) before income taxes and noncontrolling interests | 1,348,000,000 | 1,342,000,000 | 3,887,000,000 | 4,124,000,000 |
Income taxes | 342,000,000 | 269,000,000 | 949,000,000 | 1,003,000,000 |
Net income | 1,006,000,000 | 1,073,000,000 | 2,938,000,000 | 3,121,000,000 |
Net income (loss) attributable to noncontrolling interests | 18,000,000 | 18,000,000 | 60,000,000 | 23,000,000 |
Preferred stock dividends and discount accretion and redemptions | 64,000,000 | 64,000,000 | 172,000,000 | 182,000,000 |
Net income attributable to common shareholders | $ 924,000,000 | $ 991,000,000 | $ 2,706,000,000 | $ 2,916,000,000 |
Earnings Per Common Share | ||||
Basic | $ 1.87 | $ 1.93 | $ 5.41 | $ 5.64 |
Diluted | $ 1.84 | $ 1.9 | $ 5.33 | $ 5.52 |
Average Common Shares Outstanding | ||||
Basic | 490 | 512 | 496 | 516 |
Diluted | 496 | 520 | 502 | 525 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net income | $ 1,006 | $ 1,073 | $ 2,938 | $ 3,121 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Net unrealized gains (losses) on non-OTTI securities, Before Tax | (25) | 154 | 752 | (137) |
Net unrealized gains (losses) on OTTI securities | 38 | 4 | 17 | 11 |
Net unrealized gains (losses) on cash flow hedge derivatives | (125) | 234 | 138 | 303 |
Pension and other postretirement benefit plan adjustments | 11 | 7 | 26 | 57 |
Other | (25) | (1) | (40) | (37) |
Other comprehensive income (loss), before tax and net of reclassifications into Net income | (126) | 398 | 893 | 197 |
Income tax benefit (expense) related to items of other comprehensive income | 36 | (162) | (377) | (85) |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | (90) | 236 | 516 | 112 |
Comprehensive income | 916 | 1,309 | 3,454 | 3,233 |
Less: Comprehensive income (loss) attributable to noncontrolling interests | 18 | 18 | 60 | 23 |
Comprehensive income attributable to PNC | $ 898 | $ 1,291 | $ 3,394 | $ 3,210 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | ||
Assets | ||||
Cash and due from banks (a) | $ 4,531,000,000 | $ 4,065,000,000 | [1] | |
Federal funds sold and resale agreements (b) | [2] | 718,000,000 | 1,369,000,000 | |
Trading securities | 2,612,000,000 | 1,726,000,000 | ||
Interest-earning deposits with banks (a) | 27,058,000,000 | 30,546,000,000 | [1] | |
Loans held for sale (b) | [2] | 2,053,000,000 | 1,540,000,000 | |
Investment securities | 78,514,000,000 | 70,528,000,000 | ||
Loans (b) | [2] | 210,446,000,000 | 206,696,000,000 | |
Allowance for loan and lease losses | (2,619,000,000) | (2,727,000,000) | ||
Net loans (a) | 207,827,000,000 | 203,969,000,000 | [1] | |
Goodwill | 9,103,000,000 | 9,103,000,000 | ||
Mortgage servicing rights | 1,293,000,000 | 1,589,000,000 | ||
Other intangible assets | 304,000,000 | 379,000,000 | ||
Equity investments (a) | [1] | 10,605,000,000 | 10,587,000,000 | |
Other (a) (b) | [1],[2] | 24,730,000,000 | 23,092,000,000 | |
Total assets | 369,348,000,000 | 358,493,000,000 | ||
Deposits | ||||
Noninterest-bearing | 82,159,000,000 | 79,435,000,000 | ||
Interest-bearing | 177,736,000,000 | 169,567,000,000 | ||
Total deposits | 259,895,000,000 | 249,002,000,000 | ||
Borrowed funds | ||||
Federal funds purchased and repurchase agreements | 1,235,000,000 | 1,777,000,000 | ||
Federal Home Loan Bank Borrowings | 17,050,000,000 | 20,108,000,000 | ||
Bank notes and senior debt | 22,431,000,000 | 21,298,000,000 | ||
Subordinated debt | 8,708,000,000 | 8,556,000,000 | ||
Other (c) (d) | [3],[4] | 2,117,000,000 | 2,793,000,000 | |
Borrowed funds | 51,541,000,000 | 54,532,000,000 | ||
Allowance for unfunded loan commitments and letters of credit | 310,000,000 | 261,000,000 | ||
Accrued expenses (c) | [4] | 5,226,000,000 | 4,975,000,000 | |
Other (c) | [4] | 5,531,000,000 | 3,743,000,000 | |
Total liabilities | 322,503,000,000 | 312,513,000,000 | ||
Equity | ||||
Preferred stock (e) | [5] | 0 | 0 | |
Common stock ($5 par value, authorized 800 shares, issued 542 shares) | 2,709,000,000 | 2,708,000,000 | ||
Capital surplus - preferred stock | 3,456,000,000 | 3,452,000,000 | ||
Capital surplus - common stock and other | 12,703,000,000 | 12,745,000,000 | ||
Retained earnings | 30,958,000,000 | 29,043,000,000 | ||
Accumulated other comprehensive income | 646,000,000 | 130,000,000 | ||
Common stock held in treasury at cost: 54 and 38 shares | (4,765,000,000) | (3,368,000,000) | ||
Total shareholders' equity | 45,707,000,000 | 44,710,000,000 | ||
Noncontrolling interests | 1,138,000,000 | 1,270,000,000 | ||
Total equity | 46,845,000,000 | 45,980,000,000 | ||
Total liabilities and equity | $ 369,348,000,000 | $ 358,493,000,000 | ||
[1] | Our consolidated assets at September 30, 2016 included the following assets of certain variable interest entities (VIEs): Equity investments of $205 million and Other assets of $21 million. Our consolidated assets at December 31, 2015 included the following assets of certain VIEs: Cash and due from banks of $11 million, Interest-earning deposits with banks of $4 million, Net loans of $1.3 billion, Equity investments of $183 million, and Other assets of $402 million. | |||
[2] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. | |||
[3] | Our consolidated liabilities at September 30, 2016 and December 31, 2015 included Other borrowed funds of $78 million and $93 million, respectively, for which we have elected the fair value option. | |||
[4] | Our consolidated liabilities at September 30, 2016 included liabilities of $9 million for certain VIEs. Our consolidated liabilities at December 31, 2015 included the following liabilities of certain VIEs: Other borrowed funds of $148 million, Accrued expenses of $44 million, and Other liabilities of $202 million. | |||
[5] | Par value less than $.5 million at each date. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions | Sep. 30, 2016 | Dec. 31, 2015 | ||
Cash and due from banks | $ 4,531,000,000 | $ 4,065,000,000 | [1] | |
Interest-earning deposits with banks | 27,058,000,000 | 30,546,000,000 | [1] | |
Net loans | 207,827,000,000 | 203,969,000,000 | [1] | |
Equity investments | [1] | 10,605,000,000 | 10,587,000,000 | |
Other assets | [1],[2] | 24,730,000,000 | 23,092,000,000 | |
Other borrowed funds | [3],[4] | 2,117,000,000 | 2,793,000,000 | |
Accrued expenses | [4] | 5,226,000,000 | 4,975,000,000 | |
Other liabilities | [4] | 5,531,000,000 | 3,743,000,000 | |
Total liabilities | $ 322,503,000,000 | $ 312,513,000,000 | ||
Common stock, par value | $ 5 | $ 5 | ||
Common stock, authorized | 800 | 800 | ||
Common stock, issued | 542 | 542 | ||
Common stock held in treasury at cost, shares | 54 | 38 | ||
Preferred stock (e) | [5] | $ 500,000 | $ 500,000 | |
Portion at Fair Value, Fair Value Disclosure | ||||
Federal funds sold and resale agreements, fair value | [2] | 136,000,000 | 137,000,000 | |
Loans held for sale, fair value | [2] | 2,000,000,000 | 1,500,000,000 | |
Loans, Fair Value | [2] | 900,000,000 | 900,000,000 | |
Other assets, fair value | [2] | 384,000,000 | 521,000,000 | |
Other borrowed funds, fair value | [3] | 78,000,000 | 93,000,000 | |
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Cash and due from banks | [1] | 11,000,000 | ||
Interest-earning deposits with banks | [1] | 4,000,000 | ||
Net loans | [1] | 1,300,000,000 | ||
Equity investments | [1] | 205,000,000 | 183,000,000 | |
Other assets | [1] | 21,000,000 | 402,000,000 | |
Other borrowed funds | [4] | 148,000,000 | ||
Accrued expenses | [4] | 44,000,000 | ||
Other liabilities | [4] | 202,000,000 | ||
Total liabilities | $ 9,000,000 | $ 394,000,000 | ||
[1] | Our consolidated assets at September 30, 2016 included the following assets of certain variable interest entities (VIEs): Equity investments of $205 million and Other assets of $21 million. Our consolidated assets at December 31, 2015 included the following assets of certain VIEs: Cash and due from banks of $11 million, Interest-earning deposits with banks of $4 million, Net loans of $1.3 billion, Equity investments of $183 million, and Other assets of $402 million. | |||
[2] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. | |||
[3] | Our consolidated liabilities at September 30, 2016 and December 31, 2015 included Other borrowed funds of $78 million and $93 million, respectively, for which we have elected the fair value option. | |||
[4] | Our consolidated liabilities at September 30, 2016 included liabilities of $9 million for certain VIEs. Our consolidated liabilities at December 31, 2015 included the following liabilities of certain VIEs: Other borrowed funds of $148 million, Accrued expenses of $44 million, and Other liabilities of $202 million. | |||
[5] | Par value less than $.5 million at each date. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | ||
Operating Activities | |||
Net income | $ 2,938,000,000 | $ 3,121,000,000 | |
Adjustments to reconcile net income to net cash provided (used) by operating activities | |||
Provision for credit losses (benefit) | 366,000,000 | 181,000,000 | |
Depreciation and amortization | 917,000,000 | 802,000,000 | |
Deferred income taxes | (171,000,000) | 128,000,000 | |
Net gains on sales of securities | (20,000,000) | (41,000,000) | |
Changes in fair value of mortgage servicing rights | 559,000,000 | 297,000,000 | |
Gain on sales of Visa Class B common shares | (126,000,000) | (122,000,000) | |
Undistributed earnings of BlackRock | (256,000,000) | (292,000,000) | |
Net change in | |||
Trading securities and other short-term investments | (1,029,000,000) | 165,000,000 | |
Loans held for sale | (490,000,000) | (86,000,000) | |
Other assets | (2,179,000,000) | (2,415,000,000) | |
Accrued expenses and other liabilities | 2,197,000,000 | 2,280,000,000 | |
Other | (411,000,000) | (385,000,000) | |
Net cash provided (used) by operating activities | 2,295,000,000 | 3,633,000,000 | |
Sales | |||
Securities available for sale | 2,517,000,000 | 3,341,000,000 | |
Loans | 1,538,000,000 | 1,613,000,000 | |
Repayments/maturities | |||
Securities available for sale | 7,683,000,000 | 6,013,000,000 | |
Securities held to maturity | 2,013,000,000 | 1,541,000,000 | |
Purchases | |||
Securities available for sale | (15,179,000,000) | (17,546,000,000) | |
Securities held to maturity | (3,741,000,000) | (3,735,000,000) | |
Loans | (963,000,000) | (564,000,000) | |
Net change in | |||
Federal funds sold and resale agreements | 651,000,000 | 317,000,000 | |
Interest-earning deposits with banks | 3,487,000,000 | (2,445,000,000) | |
Loans | (5,451,000,000) | (1,502,000,000) | |
Other | (159,000,000) | (567,000,000) | |
Net cash provided (used) by investing activities | (7,604,000,000) | (13,534,000,000) | |
Net change in | |||
Noninterest-bearing deposits | 3,162,000,000 | 4,772,000,000 | |
Interest-bearing deposits | 8,169,000,000 | 7,985,000,000 | |
Federal funds purchased and repurchase agreements | (542,000,000) | (1,433,000,000) | |
Commercial paper | (2,000,000) | ||
Other borrowed funds | (15,000,000) | 276,000,000 | |
Sales/issuances | |||
Federal Home Loan Bank borrowings | 2,250,000,000 | ||
Bank notes and senior debt | 3,855,000,000 | 6,428,000,000 | |
Commercial paper | 1,394,000,000 | ||
Other borrowed funds | 143,000,000 | 613,000,000 | |
Common and treasury stock | 63,000,000 | 130,000,000 | |
Repayments Maturities Financing [Abstract] | |||
Federal Home Loan Bank borrowings | (3,058,000,000) | (591,000,000) | |
Bank notes and senior debt | (3,000,000,000) | (2,629,000,000) | |
Subordinated debt | 57,000,000 | ||
Commercial paper | (14,000,000) | (5,262,000,000) | |
Other borrowed funds | (470,000,000) | (1,557,000,000) | |
Preferred stock redemption | (500,000,000) | ||
Acquisition of treasury stock | (1,559,000,000) | (1,598,000,000) | |
Preferred stock cash dividends paid | (168,000,000) | (178,000,000) | |
Common stock cash dividends paid | (791,000,000) | (779,000,000) | |
Net cash provided (used) by financing activities | 5,775,000,000 | 9,376,000,000 | |
Net Increase (Decrease) In Cash And Due From Banks | 466,000,000 | (525,000,000) | |
Cash and due from banks at beginning of period | 4,065,000,000 | [1] | 4,360,000,000 |
Cash and due from banks at end of period | 4,531,000,000 | 3,835,000,000 | |
Supplemental Disclosures | |||
Interest paid | 980,000,000 | 764,000,000 | |
Income taxes paid | 461,000,000 | 527,000,000 | |
Income taxes refunded | 97,000,000 | 2,000,000 | |
Non-cash Investing and Financing Items | |||
Transfer from (to) loans to (from) loans held for sale, net | 497,000,000 | 153,000,000 | |
Transfer from loans to foreclosed assets | $ 225,000,000 | $ 340,000,000 | |
[1] | Our consolidated assets at September 30, 2016 included the following assets of certain variable interest entities (VIEs): Equity investments of $205 million and Other assets of $21 million. Our consolidated assets at December 31, 2015 included the following assets of certain VIEs: Cash and due from banks of $11 million, Interest-earning deposits with banks of $4 million, Net loans of $1.3 billion, Equity investments of $183 million, and Other assets of $402 million. |
Accounting Policies
Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Accounting Policies | B usiness 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 products and services in our primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. We also p rovide certain products and services internationally. N ote 1 A ccounting P olicies Basis o f Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, 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 eliminated interc ompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2016 presentation, which did not have a material impact on our consolidated financial condition or results of operations. Additionally, we eval uate 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. 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. We have also considered the impact of subsequent events on these consolidated financial statements. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2015 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2015 Form 10-K for a detailed description of significa nt accounting policies. There have been no significant changes to our accounting policies as disclosed in the 2015 Annual Report on Form 10-K. These interim consolidated financial statements serve to update the 2015 Form 10-K and may not include al l information and notes necessary to constitute a complete set of 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. Recently Adopted Accounting Standards We did not adopt new accounting standards that had a sign ificant impact during the third quarter of 2016 . |
Loan Sale and Servicing Activit
Loan Sale and Servicing Activities and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 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 special p urpose e ntities (SPEs) . We earn servicing and other ancillary fees for our role as servicer and, depending on the contractual terms of 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 7 Goodwill and Intangible 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 41: 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, 2016 Sales of loans (c) $ 1,950 $ 1,342 Repurchases of previously transferred loans (d) $ 133 Servicing fees (e) $ 95 $ 31 $ 2 Servicing advances recovered/(funded), net $ 13 $ (7) $ 1 Cash flows on mortgage-backed securities held (f) $ 466 $ 31 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 - Nine months ended September 30, 2016 Sales of loans (c) $ 4,796 $ 2,796 Repurchases of previously transferred loans (d) $ 396 Servicing fees (e) $ 281 $ 93 $ 8 Servicing advances recovered/(funded), net $ 89 $ 21 Cash flows on mortgage-backed securities held (f) $ 1,235 $ 228 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 (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 residential mortgage government insured or guaranteed loans eligible for repurchase through the exercise of our Removal of Account Provision (ROAP) option, and loans repurchased due to alleged breaches of origination covenants or representations and warranties made to purchasers. Includes home equity lines of credit repurchased at the end of their draw periods due to contractual requirements. (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 values of such securities held were $6.7 billion in residential mortgage-backed securities and $1.0 billion in commercial mortgage-backed securities at September 30, 2016 and $5.8 billion in residential mortgage-backed securities and $1.1 billion in commercial mortgage-backed securities at September 30, 2015. Additionally, at December 31, 2015, the carrying values of such securities held were $6.6 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 with these loans. For more information regarding our recourse and repurchase obligations, including our reserve of estimated los ses, see the Recourse and Repurchase Obligations section of Note 21 Commitments and Guarantees in our 2015 Form 10-K. Table 42: 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, 2016 Total principal balance $ 67,585 $ 46,652 $ 2,410 Delinquent loans (c) $ 1,485 $ 1,082 $ 889 December 31, 2015 Total principal balance $ 72,898 $ 53,789 $ 2,806 Delinquent loans (c) $ 1,923 $ 1,057 $ 904 Three months ended September 30, 2016 Net charge-offs (d) $ 24 $ 168 $ 9 Three months ended September 30, 2015 Net charge-offs (d) $ 23 $ 236 $ 6 Nine months ended September 30, 2016 Net charge-offs (d) $ 78 $ 1,237 $ 25 Nine months ended September 30, 2015 Net charge-offs (d) $ 92 $ 491 $ 21 (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 commercial mortgage backed 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 2015 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 consolidated into our financial statements as of September 30, 2016 and December 31, 2015 , respe ctively. Amounts presented for September 30, 2016 are based on the assessments performed in accordance with ASC 810 as amended by ASU 20 15-02 and adopted in the first quarter of 2016. Specifically, the ASU modifies the evaluation of whether limite d partnerships and similar legal entities are VIEs or voting interest e ntities ( VOEs ) . We have not provided additional financial support to these entities which we are not contractually required to provide. Table 43: Consolidated VIEs – Carrying Value (a) September 30, 2016 (b) In millions Total Assets Equity investments $ 205 Other assets 21 Total assets $ 226 Total liabilities $ 9 Noncontrolling interests $ 121 December 31, 2015 In millions Total Assets Cash and due from banks $ 11 Interest-earning deposits with banks 4 Loans 1,341 Allowance for loan and lease losses (48) Equity investments 183 Other assets 402 Total assets $ 1,893 Liabilities Other borrowed funds $ 148 Accrued expenses 44 Other liabilities 202 Total liabilities $ 394 Noncontrolling interests $ 99 (a) Amounts represent carrying value on PNC’s Consolidated Balance Sheet. (b) Amounts for September 30, 2016 reflect the first quarter 2016 adoption of ASU 2015-02. The following table provides a summary of non-consolidated VIEs with which we have significant continuing involvement but are not the primary beneficiary. We do not consider our continuing involvement to be significant when it relates to a VIE where we only invest in securities issued by the VIE and were not involved in the design of the VIE or where no transfers have occurred between PNC and the VIE. We have excluded certain transactions with non-consolidated VIEs from the balances presented in Table 44 where we have determined that our continuing involvement is not significant. In addition, where PNC only has lending arrangements in the normal course of business with entities that could be VIEs, we have excluded these transactio ns with non-consolidated entities from the balances presented in Table 44 . These loans are included as part of the asset quality disclosures that we make in Note 3 Asset Quality. Table 44: 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, 2016 (b) Commercial Mortgage-Backed Securitizations (c) $ 1,089 $ 1,089 (d) Residential Mortgage-Backed Securitizations (c) 6,764 6,764 (d) $ 1 (f) Tax Credit Investments and Other 3,138 3,072 (e) 807 (g) Total $ 10,991 $ 10,925 $ 808 December 31, 2015 Commercial Mortgage-Backed Securitizations (c) $ 1,498 $ 1,498 (d) $ 1 (f) Residential Mortgage-Backed Securitizations (c) 6,680 6,680 (d) 1 (f) Tax Credit Investments and Other 2,551 2,622 (e) 836 (g) Total $ 10,729 $ 10,800 $ 838 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts for September 30, 2016 reflect the first quarter 2016 adoption of ASU 2015-02. (c) 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. (d) Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. (e) Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (f) Included in Other liabilities on our Consolidated Balance Sheet. (g) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. We make certain equity investments in various tax credit limited partnerships or limited liability companies (LLCs). The purpose of these investments is to achieve a satisfactory return on capital and to assist us in achieving goals associated with the Community Reinvestment Act. During the nine months ended September 30, 2016 , we recognized $ 160 million of amortization, $ 167 million of tax credits, and $ 58 million of other t ax benefits associated with qualified investments in low income housing tax credits within Income taxes. The amounts for the third quarter of 2016 were $ 55 million, $ 56 million and $ 20 million, respectively. |
Asset Quality
Asset Quality | 9 Months Ended |
Sep. 30, 2016 | |
Asset Quality [Abstract] | |
Asset Quality | N ote 3 A sset Q uality 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, purchased 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 option. Nonperforming assets include n onperforming loans and leases , OREO and foreclosed assets . 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 in terest 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 criteria 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 accrue interest . Purchase d impaired loans are excluded from nonperforming loans as we are currently accreting interest income over the expected life of the loans. See Note 1 Accounting Policies in our 2015 Form 10-K 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, 2016 and December 31, 2015 , respectively. Table 45: 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, 2016 Commercial Lending Commercial $ 100,845 $ 64 $ 24 $ 37 $ 125 $ 521 $ 21 $ 101,512 Commercial real estate 28,993 26 1 27 152 101 29,273 Equipment lease financing 7,357 1 2 3 18 7,378 Total commercial lending 137,195 91 27 37 155 691 122 138,163 Consumer Lending Home equity 28,267 55 27 82 895 1,188 30,432 Residential real estate 11,969 110 71 496 677 (f) 502 $ 223 1,770 15,141 Credit card 4,947 28 19 31 78 4 5,029 Other consumer 21,163 170 92 202 464 (g) 54 21,681 Total consumer lending 66,346 363 209 729 1,301 1,455 223 2,958 72,283 Total $ 203,541 $ 454 $ 236 $ 766 $ 1,456 $ 2,146 $ 223 $ 3,080 $ 210,446 Percentage of total loans 96.72 % .22 % .11 % .36 % .69 % 1.02 % .11 % 1.46 % 100.00 % December 31, 2015 Commercial Lending Commercial $ 98,075 $ 69 $ 32 $ 45 $ 146 $ 351 $ 36 $ 98,608 Commercial real estate 27,134 10 4 14 187 133 27,468 Equipment lease financing 7,440 19 2 21 7 7,468 Total commercial lending 132,649 98 38 45 181 545 169 133,544 Consumer Lending Home equity 29,656 63 30 93 977 1,407 32,133 Residential real estate 10,918 142 65 566 773 (f) 549 $ 225 1,946 14,411 Credit card 4,779 28 19 33 80 3 4,862 Other consumer 21,181 180 96 237 513 (g) 52 21,746 Total consumer lending 66,534 413 210 836 1,459 1,581 225 3,353 73,152 Total $ 199,183 $ 511 $ 248 $ 881 $ 1,640 $ 2,126 $ 225 $ 3,522 $ 206,696 Percentage of total loans 96.36 % .25 % .12 % .43 % .80 % 1.03 % .11 % 1.70 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. 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) 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 $1.3 billion and $1.4 billion at September 30, 2016 and December 31, 2015, respectively. (e) Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. (f) Past due loan amounts include government insured or guaranteed Residential real estate mortgages totaling $579 million and $646 million at September 30, 2016 and December 31, 2015, respectively. (g) Past due loan amounts include government insured or guaranteed Other consumer loans totaling $361 million and $411 million at September 30, 2016 and December 31, 2015, respectively. At September 30, 2016 , we pledged $ 21.9 billion of commercial loans to the Federal Reserve Bank (FRB) and $ 59.1 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, 2015 were $ 20.2 billion and $ 56.4 billion, respectively . Table 46: Nonperforming Assets September 30 December 31 Dollars in millions 2016 2015 Nonperforming loans Total commercial lending $ 691 $ 545 Total consumer lending (a) 1,455 1,581 Total nonperforming loans (b) (c) 2,146 2,126 OREO and foreclosed assets Other real estate owned (OREO) 217 279 Foreclosed and other assets 12 20 Total OREO and foreclosed assets 229 299 Total nonperforming assets $ 2,375 $ 2,425 Nonperforming loans to total loans 1.02 % 1.03 % Nonperforming assets to total loans, OREO and foreclosed assets 1.13 % 1.17 % Nonperforming assets to total assets .64 % .68 % (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) 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. (c) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.4 billion and $.6 billion at September 30, 2016 and December 31, 2015, both included $.3 billion of loans that are government insured/guaranteed. 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 in our 2015 Form 10-K and the TDR section within this Note . Total nonperforming loans in the nonperforming assets table above include TDRs of $ 1.2 billion at September 30, 2016 and $ 1.1 billion at December 31, 2015 . TDRs that are performing, including consumer credit card TDR loans, totaled $ 1.2 billion at both September 30, 2016 and December 31, 2015 , and are exc luded from n onperforming loans. Nonperforming 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 persona l liability through Chapter 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 sta tus . Additional Asset Quality Indicators We have two overall portfolio segments – Commercial Lending and Cons umer Lending. Each of these two segments comprises 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 comp o sed of the commercial, commercial real estate, equipment lease financing, an d commercial purchased impaired loan c lasses . The Consumer Lending segment is compo sed of the home equity, reside ntial real estate, credit card, other consumer, and consumer purchased impaired loan c lasses. Commercial Lending Asset Classes Commercial Loan 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 re flecting 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 homogen e ous pools of commercia l loans, mortgages 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. T he combination 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 da ta. Based upon the amount of 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 loa ns which we perceive to be of 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 p roactively 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 mortga ge activities tend to be correlated 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 sc hedule 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 i n risk ratings, deteriorating 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 financing 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 established 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, g uarantor requirements, and regulatory 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 an d 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 , ongoing outreach, contact, and assessment o f obligor financial conditions, collateral inspection and appraisal. Table 47: 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, 2016 Commercial $ 96,035 $ 2,046 $ 3,335 $ 75 $ 101,491 Commercial real estate 28,768 60 328 16 29,172 Equipment lease financing 7,185 69 116 8 7,378 Purchased impaired loans 35 1 80 6 122 Total commercial lending $ 132,023 $ 2,176 $ 3,859 $ 105 $ 138,163 December 31, 2015 Commercial $ 93,364 $ 2,029 $ 3,089 $ 90 $ 98,572 Commercial real estate 26,729 120 481 5 27,335 Equipment lease financing 7,230 87 150 1 7,468 Purchased impaired loans 6 157 6 169 Total commercial lending $ 127,323 $ 2,242 $ 3,877 $ 102 $ 133,544 (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 Residen tial Real Estate Loan Classes We use several credit quality indicators, including delinquency information, nonperforming loan information, updated credit scores, originated and updated loan-to-value ( 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/Delin quency 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 loans 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 and 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 su bordinate 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, more 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 an d 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 manag ement’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 monitored 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 lo cation 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 lower level of risk. Conversely, loans with lower FICO s cores, 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 environment, 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. Table 48: Home Equity and Residential Real Estate Balances September 30 December 31 In millions 2016 2015 Home equity and residential real estate loans - excluding purchased impaired loans (a) $ 41,764 $ 42,268 Home equity and residential real estate loans - purchased impaired loans (b) 3,211 3,684 Government insured or guaranteed residential real estate mortgages (a) 851 923 Difference between outstanding balance and recorded investment in purchased impaired loans (253) (331) Total home equity and residential real estate loans (a) $ 45,573 $ 46,544 (a) Represents recorded investment. (b) Represents outstanding balance. Table 49: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) Home Equity Residential Real Estate September 30, 2016 - 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 $ 197 $ 726 $ 205 $ 1,128 Less than or equal to 660 (d) (e) 40 135 38 213 Missing FICO 5 3 8 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 480 1,372 391 2,243 Less than or equal to 660 (d) (e) 78 240 88 406 Missing FICO 1 3 12 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 535 1,233 520 2,288 Less than or equal to 660 77 195 78 350 Missing FICO 2 2 12 16 Less than 90% and updated FICO scores: Greater than 660 13,934 7,771 10,458 32,163 Less than or equal to 660 1,334 850 593 2,777 Missing FICO 22 12 122 156 Total home equity and residential real estate loans $ 16,700 $ 12,544 $ 12,520 $ 41,764 Home Equity Residential Real Estate December 31, 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 $ 283 $ 960 $ 284 $ 1,527 Less than or equal to 660 (d) (e) 40 189 68 297 Missing FICO 1 8 5 14 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 646 1,733 564 2,943 Less than or equal to 660 (d) (e) 92 302 102 496 Missing FICO 3 4 8 15 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 698 1,492 615 2,805 Less than or equal to 660 88 226 94 408 Missing FICO 1 3 10 14 Less than 90% and updated FICO scores: Greater than 660 13,895 7,808 9,117 30,820 Less than or equal to 660 1,282 923 570 2,775 Missing FICO 31 18 105 154 Total home equity and residential real estate loans $ 17,060 $ 13,666 $ 11,542 $ 42,268 (a) Excludes purchased impaired loans of approximately $3.0 billion and $3.4 billion in recorded investment at September 30, 2016 and December 31, 2015, respectively, certain government insured or guaranteed residential real estate mortgages of approximately $.9 billion, and loans held for sale at both September 30, 2016 and December 31, 2015. 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, 2016: New Jersey 17%, Pennsylvania 13%, Illinois 11%, Ohio 11%, Florida 7%, Maryland 7%, Michigan 4%, and North Carolina 4%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 26% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2015: New Jersey 14%, Pennsylvania 12%, Illinois 11%, Ohio 11%, Florida 7%, Maryland 7% and Michigan 5%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 33% of the higher risk loans. Table 50: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) Home Equity (b) (c) Residential Real Estate (b) (c) September 30, 2016 - 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 $ 4 $ 118 $ 144 $ 266 Less than or equal to 660 4 53 49 106 Missing FICO 3 6 9 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 8 284 146 438 Less than or equal to 660 8 117 94 219 Missing FICO 4 9 13 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 7 152 106 265 Less than or equal to 660 5 66 55 126 Missing FICO 2 6 8 Less than 90% and updated FICO scores: Greater than 660 110 322 607 1,039 Less than or equal to 660 83 166 399 648 Missing FICO 1 5 48 54 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 1 3 4 Missing FICO 1 1 Total home equity and residential real estate loans $ 232 $ 1,292 $ 1,687 $ 3,211 Home Equity (b) (c ) Residential Real Estate (b) (c) December 31, 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 $ 6 $ 164 $ 147 $ 317 Less than or equal to 660 6 79 76 161 Missing FICO 7 5 12 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 12 331 186 529 Less than or equal to 660 9 145 118 272 Missing FICO 8 7 15 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 10 167 133 310 Less than or equal to 660 6 75 68 149 Missing FICO 4 3 7 Less than 90% and updated FICO scores: Greater than 660 106 345 665 1,116 Less than or equal to 660 91 182 455 728 Missing FICO 1 13 31 45 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 1 6 7 Missing FICO 1 1 Total home equity and residential real estate loans $ 249 $ 1,520 $ 1,915 $ 3,684 (a) Amounts shown represent outstanding balance. (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 both September 30, 2016 and December 31, 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. (d) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions) which is estimated using modeled property values and 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 We monitor a variety of asset quality information in the management of the credit card and other consumer loan classes. Other consumer loan classes include education, automobile, and other secured and unsecured lines and loans. Along with the trending of delinquencies and losses for each class, FICO credit score updates are generally obtained monthly, as well as a variety of credit bureau attributes. Loans with high FICO scores tend to have a lower likelihood of loss. Conversely, loans with low FICO scores tend to have a higher likelihood of loss. Table 51: 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, 2016 FICO score greater than 719 $ 3,029 60 % $ 10,073 66 % 650 to 719 1,412 28 3,717 24 620 to 649 209 4 512 3 Less than 620 225 5 577 4 No FICO score available or required (c) 154 3 438 3 Total loans using FICO credit metric 5,029 100 % 15,317 100 % Consumer loans using other internal credit metrics (b) 6,364 Total loan balance $ 5,029 $ 21,681 Weighted-average updated FICO score (d) 734 746 December 31, 2015 FICO score greater than 719 $ 2,936 60 % $ 9,371 65 % 650 to 719 1,346 28 3,534 24 620 to 649 202 4 523 4 Less than 620 227 5 604 4 No FICO score available or required (c) 151 3 501 3 Total loans using FICO credit metric 4,862 100 % 14,533 100 % Consumer loans using other internal credit metrics (b) 7,213 Total loan balance $ 4,862 $ 21,746 Weighted-average updated FICO score (d) 734 744 (a) At September 30, 2016, we had $32 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, 2016 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Pennsylvania 17%, Ohio 15%, Michigan 8%, New Jersey 8%, Florida 7%, Illinois 6%, Maryland 5%, Indiana 5%, North Carolina 5% and Kentucky 4%. All other states had less than 4% individually and make up the remainder of the balance. At December 31, 2015, we had $34 million of credit card loans that are higher risk. The majority of the December 31, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 15%, Michigan 8%, New Jersey 8%, Florida 7%, Illinois 6%, Indiana 6%, Maryland 4% 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. Troubled Debt Restructurings (TDRs) Table 52: Summary of Troubled Debt Restructurings September 30 December 31 In millions 2016 2015 Total commercial lending $ 527 $ 434 Total consumer lending 1,832 1,917 Total TDRs $ 2,359 $ 2,351 Nonperforming $ 1,177 $ 1,119 Accruing (a) 1,182 1,232 Total TDRs $ 2,359 $ 2,351 (a) Accruing loans include consumer credit card loans and loans that 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. We held sp ecific reserves in the ALLL of $ .3 billion at both September 30, 2016 and December 31, 2015 for the total TDR portfolio . Table 53 quantifies the number of loans that were classified as TDRs as well as the change in the loans’ recorded investment as a result of becoming a TDR during the first nine months and thir d quarters of 2016 and 2015 , respectively . Additionally, the table provides information about the types of TDR concessions. See Note 3 Asset Quality in our 2015 Form 10-K for additional discussion of TDR concessions. Table 53: Financial Impact and TDRs by Concession Type (a) Pre-TDR Post-TDR Recorded Investment (c) During the three months ended September 30, 2016 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness (d) Reduction |
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, 2016 | |
Allowance For Loan And Lease Losses [Abstract] | |
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit | Note 4 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 of our 2015 Form 10-K . A rollforward of the ALLL and associated loan data follows. Table 55: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total September 30, 2016 Allowance for Loan and Lease Losses January 1 $ 1,605 $ 1,122 $ 2,727 Charge-offs (297) (395) (692) Recoveries 133 122 255 Net (charge-offs) / recoveries (164) (273) (437) Provision for credit losses 156 210 366 Net change in allowance for unfunded loan commitments and letters of credit (48) (1) (49) Net recoveries of purchased impaired loans and other 1 11 12 September 30 $ 1,550 $ 1,069 $ 2,619 TDRs individually evaluated for impairment $ 76 $ 240 $ 316 Other loans individually evaluated for impairment 44 44 Loans collectively evaluated for impairment 1,388 548 1,936 Purchased impaired loans 42 281 323 September 30 $ 1,550 $ 1,069 $ 2,619 Loan Portfolio TDRs individually evaluated for impairment (a) $ 527 $ 1,832 $ 2,359 Other loans individually evaluated for impairment 344 344 Loans collectively evaluated for impairment (b) 137,170 66,619 203,789 Fair value option loans (c) 874 874 Purchased impaired loans 122 2,958 3,080 September 30 $ 138,163 $ 72,283 $ 210,446 Portfolio segment ALLL as a percentage of total ALLL 59 % 41 % 100 % Ratio of the allowance for loan and lease losses to total loans (d) 1.12 % 1.48 % 1.24 % 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 % (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 $.1 billion 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, 2016. Accordingly, there is no allowance recorded on these loans. The comparative amount as of September 30, 2015 was $.2 billion. (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. (d) See Note 1 Accounting Policies in our 2015 Form 10-K for information on our change in derecognition policy effective December 31, 2015 for certain purchased impaired 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 of our 2015 Form 10-K . A rollforward of the allowance is presented below. Table 56: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit In millions 2016 2015 January 1 $ 261 $ 259 Net change in allowance for unfunded loan commitments and letters of credit 49 7 September 30 $ 310 $ 266 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities | N OTE 5 I NVESTMENT S ECURITIES Table 57: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value September 30, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 12,062 $ 301 $ (13) $ 12,350 Residential mortgage-backed Agency 27,429 568 (18) 27,979 Non-agency 3,372 226 (61) 3,537 Commercial mortgage-backed Agency 2,301 21 (4) 2,318 Non-agency 4,183 69 (19) 4,233 Asset-backed 6,123 66 (26) 6,163 State and municipal 1,963 107 (3) 2,067 Other debt 2,712 60 (3) 2,769 Total debt securities 60,145 1,418 (147) 61,416 Corporate stocks and other 525 525 Total securities available for sale $ 60,670 $ 1,418 $ (147) $ 61,941 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 265 $ 65 $ 330 Residential mortgage-backed Agency 11,637 254 $ (2) 11,889 Non-agency 204 13 217 Commercial mortgage-backed Agency 1,051 39 1,090 Non-agency 579 25 604 Asset-backed 799 (4) 795 State and municipal 1,920 159 2,079 Other debt 118 (9) 109 Total securities held to maturity $ 16,573 $ 555 $ (15) $ 17,113 December 31, 2015 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 9,764 $ 152 $ (42) $ 9,874 Residential mortgage-backed Agency 24,698 250 (128) 24,820 Non-agency 3,992 247 (88) 4,151 Commercial mortgage-backed Agency 1,917 11 (10) 1,918 Non-agency 4,902 30 (29) 4,903 Asset-backed 5,417 54 (48) 5,423 State and municipal 1,982 79 (5) 2,056 Other debt 2,007 31 (12) 2,026 Total debt securities 54,679 854 (362) 55,171 Corporate stocks and other 590 (1) 589 Total securities available for sale $ 55,269 $ 854 $ (363) $ 55,760 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 258 $ 40 $ 298 Residential mortgage-backed Agency 9,552 101 $ (65) 9,588 Non-agency 233 8 241 Commercial mortgage-backed Agency 1,128 40 1,168 Non-agency 722 6 (1) 727 Asset-backed 717 (10) 707 State and municipal 1,954 116 2,070 Other debt 204 (1) 203 Total securities held to maturity $ 14,768 $ 311 $ (77) $ 15,002 (a) Held to maturity securities transferred from available for sale are recorded 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 $78 million and $97 million at September 30, 2016 and December 31, 2015, 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, 2016 , Accumulated other comprehensive income included pretax gains of $ 103 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 58 presents gross unrealized losses on securities available for sale at September 30, 2016 and December 31, 2015 . 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 ) . The decrease in total unrealized loss es at September 30, 2016 when compared to December 31, 2015 was due to a decline in market interest rates . Table 58: 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, 2016 Debt securities U.S. Treasury and government agencies $ (1) $ 1,197 $ (12) $ 2,805 $ (13) $ 4,002 Residential mortgage-backed Agency (5) 699 (13) 943 (18) 1,642 Non-agency (1) 146 (60) 1,222 (61) 1,368 Commercial mortgage-backed Agency (3) 400 (1) 114 (4) 514 Non-agency (4) 587 (15) 1,269 (19) 1,856 Asset-backed (2) 445 (24) 1,629 (26) 2,074 State and municipal (1) 207 (2) 123 (3) 330 Other debt (1) 195 (2) 125 (3) 320 Total debt securities (18) 3,876 (129) 8,230 (147) 12,106 Corporate stocks and other (a) 16 (a) 16 Total $ (18) $ 3,876 $ (129) $ 8,246 $ (147) $ 12,122 December 31, 2015 Debt securities U.S. Treasury and government agencies $ (40) $ 5,885 $ (2) $ 120 $ (42) $ 6,005 Residential mortgage-backed Agency (103) 11,799 (25) 1,094 (128) 12,893 Non-agency (3) 368 (85) 1,527 (88) 1,895 Commercial mortgage-backed Agency (7) 745 (3) 120 (10) 865 Non-agency (22) 2,310 (7) 807 (29) 3,117 Asset-backed (30) 3,477 (18) 494 (48) 3,971 State and municipal (3) 326 (2) 60 (5) 386 Other debt (8) 759 (4) 188 (12) 947 Total debt securities (216) 25,669 (146) 4,410 (362) 30,079 Corporate stocks and other (a) 46 (1) 15 (1) 61 Total $ (216) $ 25,715 $ (147) $ 4,425 $ (363) $ 30,140 (a) The unrealized loss on these securities was less than $.5 million. T he gross unrealized loss on debt securities held to maturity was $ 16 million at September 30, 2016 , with $ 10 million of the loss related to securities with a fair value of $ .1 b illion that had been in a continuous loss position less than 12 months and $ 6 million of the loss related to securities with a fair value of $ .9 billion that had been in a continuous loss position for more th an 12 months. The gross unrealized loss on debt securities held to maturity was $ 82 million at December 31, 2015 , with $ 59 million of the loss related to securities with a fair value of $ 5.5 billion that had been in a continuous loss position less than 12 months and $ 23 million of the loss related to securities with a fair value of $ 953 million 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 58 , as of September 30, 2016 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. As more fully described in Note 6 Investment Securities in our 2015 Form 10-K, at 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 basis. 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. Even if we do not expect to sell the security, we must evaluate the expected cash flows to be received t o 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 cond itions in the market or changes in market interest rates, is recorded in accumulated other comprehensive income ( loss ) . See Note 6 Investment Securities in our 2015 Form 10-K for additional details on this quarterly assessment. For those securitie s on our balance sheet where we determined losses represented OTTI, we have recorded cumulative credit losses of $ 1.1 billion at September 30, 2016 . During the first nine months of 2016 and 2015 , 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 59: Gains (Losses) on Sales of Securities Available for Sale Nine months ended September 30 Gross Gross Net Tax In millions Proceeds Gains Losses Gains Expense 2016 $ 2,546 $ 20 $ - $ 20 $ 7 2015 $ 3,445 $ 54 $ (13) $ 41 $ 14 The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at September 30, 2016 . Table 60: Contractual Maturity of Debt Securities September 30, 2016 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 $ 404 $ 5,251 $ 5,244 $ 1,163 $ 12,062 Residential mortgage-backed Agency 137 912 26,380 27,429 Non-agency 2 3,370 3,372 Commercial mortgage-backed Agency 78 44 828 1,351 2,301 Non-agency 17 8 4,158 4,183 Asset-backed 12 2,104 1,987 2,020 6,123 State and municipal 2 146 383 1,432 1,963 Other debt 213 2,151 238 110 2,712 Total debt securities available for sale $ 709 $ 9,852 $ 9,600 $ 39,984 $ 60,145 Fair value $ 714 $ 10,004 $ 9,739 $ 40,959 $ 61,416 Weighted-average yield, GAAP basis 2.74 % 2.17 % 2.08 % 2.87 % 2.62 % Securities Held to Maturity U.S. Treasury and government agencies $ 265 $ 265 Residential mortgage-backed Agency $ 10 $ 500 11,127 11,637 Non-agency 204 204 Commercial mortgage-backed Agency $ 164 827 5 55 1,051 Non-agency 579 579 Asset-backed 1 688 110 799 State and municipal 4 69 1,008 839 1,920 Other debt 7 33 28 50 118 Total debt securities held to maturity $ 175 $ 940 $ 2,229 $ 13,229 $ 16,573 Fair value $ 175 $ 979 $ 2,328 $ 13,631 $ 17,113 Weighted-average yield, GAAP basis 3.29 % 3.60 % 3.03 % 3.55 % 3.48 % Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security. At September 30, 2016 , there were no securities of a single issuer, other than FNMA, that exceeded 10% of Total shareholders’ equity. The FN MA investments had a total amortized cost of $ 28.4 billion and fair value of $ 29.0 billion. The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outsta nding borrowings. Table 61: Fair Value of Securities Pledged and Accepted as Collateral September 30 December 31 In millions 2016 2015 Pledged to others $ 9,991 $ 9,674 Accepted from others: Permitted by contract or custom to sell or repledge $ 655 $ 1,100 Permitted amount repledged to others $ 499 $ 943 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, 2016 | |
Fair Value [Abstract] | |
Fair Value | Note 6 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 2015 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 2015 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 62: Fair Value Measurements - Recurring Basis Summary September 30, 2016 December 31, 2015 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 $ 11,740 $ 610 $ 12,350 $ 9,267 $ 607 $ 9,874 Residential mortgage-backed Agency 27,979 27,979 24,820 24,820 Non-agency 124 $ 3,413 3,537 143 $ 4,008 4,151 Commercial mortgage-backed Agency 2,318 2,318 1,918 1,918 Non-agency 4,233 4,233 4,903 4,903 Asset-backed 5,738 425 6,163 4,941 482 5,423 State and municipal 2,053 14 2,067 2,041 15 2,056 Other debt 2,748 21 2,769 1,996 30 2,026 Total debt securities 11,740 45,803 3,873 61,416 9,267 41,369 4,535 55,171 Corporate stocks and other 462 63 525 527 62 589 Total securities available for sale 12,202 45,866 3,873 61,941 9,794 41,431 4,535 55,760 Financial derivatives (a) (b) Interest rate contracts 6,703 49 6,752 4,626 29 4,655 Other contracts 392 3 395 284 2 286 Total financial derivatives 7,095 52 7,147 4,910 31 4,941 Residential mortgage loans held for sale (c) 1,124 3 1,127 838 5 843 Trading securities Debt 826 1,774 2 2,602 987 727 3 1,717 Equity 10 10 9 9 Total trading securities 836 1,774 2 2,612 996 727 3 1,726 Residential mortgage servicing rights 820 820 1,063 1,063 Commercial mortgage servicing rights 473 473 526 526 Commercial mortgage loans held for sale (c) 860 860 641 641 Equity investments - direct investments 1,075 1,075 1,098 1,098 Equity investments - indirect investments (d) (e) 220 268 347 Customer resale agreements (f) 136 136 137 137 Loans (g) 550 324 874 565 340 905 Other assets BlackRock Series C Preferred Stock (h) 221 221 357 357 Other 263 187 6 456 254 199 7 460 Total other assets 263 187 227 677 254 199 364 817 Total assets $ 13,301 $ 56,732 $ 7,929 $ 78,010 $ 11,044 $ 48,807 $ 8,606 $ 68,804 Liabilities Financial derivatives (b) (i) Interest rate contracts $ 4,830 $ 9 $ 4,839 $ 1 $ 3,124 $ 7 $ 3,132 BlackRock LTIP 221 221 357 357 Other contracts 183 164 347 204 109 313 Total financial derivatives 5,013 394 5,407 1 3,328 473 3,802 Trading securities sold short (j) Debt $ 505 30 535 960 27 987 Total trading securities sold short 505 30 535 960 27 987 Other borrowed funds 68 10 78 81 12 93 Other liabilities 20 20 10 10 Total liabilities $ 505 $ 5,111 $ 424 $ 6,040 $ 961 $ 3,436 $ 495 $ 4,892 (a) Included in Other assets on the Consolidated Balance Sheet. (b) Amounts at September 30, 2016 and December 31, 2015, 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. See Note 9 Financial Derivatives for additional information related to derivative offsetting. (c) Included in Loans held for sale on the Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. (d) In accordance with ASC 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet. (e) 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, 2016 related to indirect equity investments was $107 million and related to direct equity investments was $21 million, respectively. Comparable amounts at December 31, 2015 were $103 million and $23 million, respectively. (f) Included in Federal funds sold and resale agreements on the Consolidated Balance Sheet. PNC has elected the fair value option for these items. (g) Included in Loans on the Consolidated Balance Sheet. (h) PNC has elected the fair value option for these shares. (i) Included in Other liabilities on the Consolidated Balance Sheet. (j) Included in Other borrowed funds on the 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, 2016 and 2015 follow: Table 63: Reconciliation of Level 3 Assets and Liabilities Three Months Ended September 30, 2016 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 Jun. 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2016 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 2016 (a) (b) Assets Securities available for sale Residential mortgage- backed non-agency $ 3,557 $ 25 $ 32 $ (201) $ 3,413 Asset-backed 436 4 8 (23) 425 State and municipal 15 (1) 14 Other debt 33 1 $ 1 $ (14) 21 Total securities available for sale 4,041 30 40 1 (14) (225) 3,873 Financial derivatives 51 37 (36) 52 $ 34 Residential mortgage loans held for sale 6 3 (1) $ 3 $ (8) 3 Trading securities - Debt 2 2 Residential mortgage servicing rights 774 23 49 $ 16 (42) 820 23 Commercial mortgage servicing rights 448 8 16 22 (21) 473 8 Commercial mortgage loans held for sale 981 18 (1,343) 1,205 (1) 860 6 Equity investments Direct investments 1,120 19 17 (81) 1,075 21 Indirect investments 233 16 (31) 2 220 9 Loans 317 3 27 (4) (15) (4) 324 1 Other assets BlackRock Series C Preferred Stock 209 12 221 12 Other 6 6 Total other assets 215 12 227 12 Total assets $ 8,188 $ 166 (c) $ 40 $ 113 $ (1,474) $ 1,243 $ (340) $ 5 $ (12) $ 7,929 $ 114 (d) Liabilities Financial derivatives (e) $ 385 $ 21 $ 1 $ (13) $ 394 $ 25 Other borrowed funds 8 $ 24 (22) 10 Other liabilities 13 42 (35) 20 Total liabilities $ 406 $ 21 (c) $ 1 $ 66 $ (70) $ 424 $ 25 (d) 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 Included in Other Transfers Transfers Fair Value Balance Sheet Only Jun. 30, in comprehensive into out of Sept. 30, at Sept. 30, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2015 2015 (a) (b) 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 (846) 874 (2) 802 7 Equity investments - direct investments 1,191 36 87 (99) 1,215 39 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 $ 9,294 $ (98) (c) $ (8) $ 254 $ (964) $ 911 $ (391) $ 12 $ (32) $ 8,978 $ (137) (d) Liabilities Financial derivatives (e) $ 498 $ (54) $ (1) $ 443 $ (57) Other borrowed funds 165 1 $ 23 (127) 62 Other liabilities 10 10 Total liabilities $ 673 $ (53) (c) $ 23 $ (128) $ 515 $ (57) (d) Nine Months Ended September 30, 2016 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 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 at Sept. 30, 2016 (a) (b) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,008 $ 58 $ 4 $ (60) $ (597) $ 3,413 $ (1) Asset-backed 482 10 (67) 425 State and municipal 15 (1) 14 Other debt 30 1 $ 10 (18) (2) 21 Total securities available for sale 4,535 69 4 10 (78) (667) 3,873 (1) Financial derivatives 31 106 1 (86) 52 101 Residential mortgage loans held for sale 5 9 (2) $ 8 $ (17) 3 Trading securities - Debt 3 (1) 2 Residential mortgage servicing rights 1,063 (316) 154 $ 39 (120) 820 (308) Commercial mortgage servicing rights 526 (56) 25 45 (67) 473 (56) Commercial mortgage loans held for sale 641 55 (2,797) 2,981 (20) 860 4 Equity investments Direct investments 1,098 85 135 (243) 1,075 84 Indirect investments 16 (31) 235 (f) 220 9 Loans 340 6 82 (18) (57) (29) 324 3 Other assets BlackRock Series C Preferred Stock 357 2 (138) 221 2 Other 7 2 (2) (1) 6 Total other assets 364 4 (2) (1) (138) 227 2 Total assets $ 8,606 $ (31) (c) $ 2 $ 416 $ (3,170) $ 3,065 $ (1,156) $ 243 $ (46) $ 7,929 $ (162) (d) Liabilities Financial derivatives (e) $ 473 $ 90 $ 4 $ (173) $ 394 $ 92 Other borrowed funds 12 $ 64 (66) 10 Other liabilities 10 1 114 (105) 20 Total liabilities $ 495 $ 91 (c) $ 4 $ 178 $ (344) $ 424 $ 92 (d) 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 Level 3 Instruments Fair Value Included in Other Transfers Transfers Fair Value on Consolidated Only Dec. 31, in comprehensive into out of Sept. 30, Balance Sheet at In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2015 Sept. 30, 2015 (a) (b) 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 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 (3,081) 2,965 (38) 802 3 Equity investments - direct investments 1,152 92 225 (254) 1,215 79 Loans 397 19 84 (21) (96) 21 (54) 350 10 Other assets BlackRock Series C Preferred Stock 375 (63) 312 (63) Other 15 (7) (1) 7 Total other assets 390 (63) (7) (1) 319 (63) Total assets $ 9,788 $ 253 (c) $ (22) $ 646 $ (3,371) $ 3,074 $ (1,338) $ 25 $ (77) $ 8,978 $ 48 (d) Liabilities Financial derivatives (e) $ 526 $ (28) $ 1 $ (56) $ 443 $ (69) Other borrowed funds 181 4 $ 69 (192) 62 Other liabilities 9 1 10 Total liabilities $ 716 $ (23) (c) $ 1 $ 69 $ (248) $ 515 $ (69) (d) (a) Losses for assets are bracketed while losses for liabilities are not. (b) 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. (c) Net gains (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $145 million for the third quarter of 2016, while for the first nine months of 2016 there were $122 million of net losses (realized and unrealized) included in earnings. The comparative amounts included net losses (realized and unrealized) of $45 million for the third quarter of 2015 and net gains (realized and unrealized) of $276 million for the first nine months of 2015. These amounts also included amortization and accretion. 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. (d) Net unrealized gains relating to those assets and liabilities held at the end of the reporting period were $89 million for the third quarter of 2016, while for the first nine months of 2016 there were $254 million of net unrealized losses. The comparative amounts included net unrealized losses of $80 million for the third quarter of 2015 and net unrealized gains of $117 million for the first nine months of 2015. These amounts were included in Noninterest income on the Consolidated Income Statement. (e) Includes swaps entered into in connection with sales of certain Visa Class B common shares. (f) Reflects transfers into Level 3 associated with a change in valuation methodology. 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 qu arter 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. Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 64: Fair Value Measurements - Recurring Quantitative Information September 30, 2016 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 3,413 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.2%) (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) 260bps weighted average (a) Asset-backed securities 425 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.0% (6.3%) (a) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.6%) (a) pricing model (a) Loss severity 24.2%-100% (78.0%) (a) Spread over the benchmark curve (b) 333bps weighted average (a) Residential mortgage servicing rights 820 Discounted cash flow Constant prepayment rate (CPR) 0.0%-41.3% (18.3%) Spread over the benchmark curve (b) 195bps-1,871bps (847bps) Commercial mortgage servicing 473 Discounted cash flow Constant prepayment rate (CPR) 6.1%-45.6% (7.8%) rights Discount rate 5.1%-7.7% (7.5%) Commercial mortgage loans held 860 Discounted cash flow Spread over the benchmark curve (b) 66bps-1,220bps (527bps) for sale Estimated servicing cash flows 0.0%-4.7% (1.4%) Equity investments - Direct investments 1,075 Multiple of adjusted earnings Multiple of earnings 4.1x-12.0x (7.6x) Equity investments - Indirect investments 220 Consensus pricing (c) Liquidity discount 0.0%-40.0% Loans - Residential real estate 127 Consensus pricing (c) Cumulative default rate 11.0%-100% (88.0%) Loss severity 0.0%-100% (24.4%) Discount rate 4.7%-6.7% (5.1%) 114 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.9% weighted average Loans - Home equity 83 Consensus pricing (c) Credit and Liquidity discount 0.0%-99.0% (57.0%) BlackRock Series C Preferred Stock 221 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (221) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain Visa (156) Discounted cash flow Estimated conversion factor of Class B common shares Class B shares into Class A shares 164.4% weighted average Estimated growth rate of Visa Class A share price 14.0% Insignificant Level 3 assets, net of liabilities (d) 51 Total Level 3 assets, net of liabilities (e) $ 7,505 December 31, 2015 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,008 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% (53.3%) (a) Spread over the benchmark curve (b) 241bps weighted average (a) Asset-backed securities 482 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-14.0% (6.3%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (6.8%) (a) pricing model (a) Loss severity 24.2%-100.0% (77.5%) (a) Spread over the benchmark curve (b) 324bps weighted average (a) Residential mortgage servicing rights 1,063 Discounted cash flow Constant prepayment rate (CPR) 0.3%-46.5% (10.6%) Spread over the benchmark curve (b) 559bps-1,883bps (893bps) Commercial mortgage servicing rights 526 Discounted cash flow Constant prepayment rate (CPR) 3.9%-26.5% (5.7%) Discount rate 2.6%-7.7% (7.5%) Commercial mortgage loans held for sale 641 Discounted cash flow Spread over the benchmark curve (b) 85bps-4,270bps (547bps) Estimated servicing cash flows 0.0%-7.0% (0.9%) Equity investments - Direct investments 1,098 Multiple of adjusted earnings Multiple of earnings 4.2x-14.1x (7.6x) Loans - Residential real estate 123 Consensus pricing (c) Cumulative default rate 2.0%-100.0% (85.1%) Loss severity 0.0%-100.0% (27.3%) Discount rate 4.9%-7.0% (5.2%) 116 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.9% weighted average Loans - Home equity 101 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (54.0%) BlackRock Series C Preferred Stock 357 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (357) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain (104) Discounted cash flow Estimated conversion factor of Visa Class B common shares Class B shares into Class A shares 164.3% weighted average Estimated growth rate of Visa Class A share price 16.3% Insignificant Level 3 assets, net of liabilities (d) 57 Total Level 3 assets, net of liabilities (e) $ 8,111 (a) Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2016 totaling $2.9 billion and $.4 billion, 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, 2015 were $3.4 billion and $.4 billion, 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 Assets and Liabilities Measured at Fair Value on a Recurring Basis section of Note 7 Fair Value in our 2015 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2016 of $518 million and $28 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, 2015 were $629 million and $34 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) 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, state and municipal securities, other debt securities, residential mortgage loans held for sale, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Assets and Liabilities Measured at Fair Value on a Recurring Basis discussion included in Note 7 Fair Value in our 2015 Form 10-K. (e) Consisted of total Level 3 assets of $7.9 billion and total Level 3 liabilities of $.4 billion as of September 30, 2016 and $8.6 billion and $.5 billion as of December 31, 2015, 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 65 and Table 66 . 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 2015 Form 10-K. Table 65: 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 2016 2015 2016 2015 2016 2015 Assets Nonaccrual loans $ 180 $ 30 $ (32) $ (41) $ (81) $ (48) OREO and foreclosed assets 108 137 (6) (6) (15) (18) Insignificant assets (b) 19 28 (2) (5) (16) Total assets $ 307 $ 195 $ (38) $ (49) $ (101) $ (82) (a) All Level 3 as of September 30, 2016 and December 31, 2015. (b) Represents the aggregate amount of assets measured at fair value on a nonrecurring basis that are individually and in the aggregate insignificant. The amount includes certain equity investments and long-lived assets held for sale. Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 66: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) September 30, 2016 Assets Nonaccrual loans $ 126 LGD percentage (a) Loss severity 5.4%-77.8% (35.3%) 54 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 108 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 19 Total assets $ 307 December 31, 2015 Assets Nonaccrual loans $ 20 LGD percentage (a) Loss severity 8.1%-73.3% (58.6%) 10 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 137 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 28 Total assets $ 195 (a) LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. 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 2015 Form 10-K. Table 67: 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 2016 2015 2016 2015 Assets Customer resale agreements $ (1) $ (1) $ (1) $ (1) Commercial mortgage loans held for sale $ 16 $ 25 $ 65 $ 81 Residential mortgage loans held for sale $ 55 $ 56 $ 161 $ 127 Residential mortgage loans – portfolio $ 7 $ 8 $ 24 $ 37 BlackRock Series C Preferred Stock $ 12 $ (51) $ 2 $ (63) Other assets $ 15 $ (5) $ 2 Liabilities Other borrowed funds $ (2) $ (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 68: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference September 30, 2016 Assets Customer resale agreements $ 136 $ 133 $ 3 Residential mortgage loans held for sale Performing loans 1,122 1,071 51 Accruing loans 90 days or more past due 1 1 Nonaccrual loans 4 5 (1) Total 1,127 1,077 50 Commercial mortgage loans held for sale (a) Performing loans 855 865 (10) Nonaccrual loans 5 9 (4) Total 860 874 (14) Residential mortgage loans - portfolio Performing loans 231 276 (45) Accruing loans 90 days or more past due 420 420 Nonaccrual loans 223 354 (131) Total 874 1,050 (176) Other assets 163 164 (1) Liabilities Other borrowed funds $ 78 $ 80 $ (2) December 31, 2015 Assets Customer resale agreements $ 137 $ 133 $ 4 Residential mortgage loans held for sale Performing loans 832 804 28 Accruing loans 90 days or more past due 4 4 Nonaccrual loans 7 8 (1) Total 843 816 27 Commercial mortgage loans held for sale (a) Performing loans 639 659 (20) Nonaccrual loans 2 3 (1) Total 641 662 (21) Residential mortgage loans - portfolio Performing loans 204 260 (56) Accruing loans 90 days or more past due 475 478 (3) Nonaccrual loans 226 361 (135) Total 905 1,099 (194) Other assets 164 159 5 Liabilities Other borrowed funds $ 93 $ 95 $ (2) (a) There were no accruing loans 90 days or more past due within this category at September 30, 2016 or December 31, 2015. 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, 2016 and December 31, 2015 . Table 69: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 September 30, 2016 Assets Cash and due from banks $ 4,531 $ 4,531 $ 4,531 Short-term assets 29,125 29,125 $ 29,125 Securities held to maturity 16,573 17,113 330 16,669 $ 114 Loans held for sale 66 65 47 18 Net loans (excludes leases) 199,570 202,758 202,758 Other assets 1,748 2,225 1,731 494 Total assets $ 251,613 $ 255,817 $ 4,861 $ 47,572 $ 203,384 Liabilities Demand, savings and money market deposits $ 241,146 $ 241,146 $ 241,146 Time deposits 18,749 18,806 18,806 Borrowed funds 51,222 52,073 50,616 $ 1,457 Unfunded loan commitments and letters of credit 289 289 289 Other liabilities 67 67 67 Total liabilities $ 311,473 $ 312,381 $ 310,635 $ 1,746 December 31, 2015 Assets Cash and due from banks $ 4,065 $ 4,065 $ 4,065 Short-term assets 32,959 32,959 $ 32,959 Securities held to maturity 14,768 15,002 298 14,698 $ 6 Loans held for sale 56 56 22 34 Net loans (excludes leases) 195,579 197,611 197,611 Other assets 1,817 2,408 1,786 622 Total assets $ 249,244 $ 252,101 $ 4,363 $ 49,465 $ 198,273 Liabilities Demand, savings and money market deposits $ 228,492 $ 228,492 $ 228,492 Time deposits 20,510 20,471 20,471 Borrowed funds 53,761 54,002 52,578 $ 1,424 Unfunded loan commitments and letters of credit 245 245 245 Total liabilities $ 303,008 $ 303,210 $ 301,541 $ 1,669 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 value of financial instruments, T able 69 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 69 , see Note 7 Fair Value in our 2015 Form 10-K. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 7 Goodwill and Intangible Assets Goodwill See Note 8 Goodwill and Intangible Assets in our 2015 F orm 10-K for more information regarding our goodwill . 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 $1.3 billion and $1.6 billion at September 30, 2016 and December 31 , 2015 , 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 the 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 the value of MSRs decreases (or increases). See the Sensitivity Analysis section of this Note 7 , as well as Note 6 Fair Value for more detail on our fair value measurement of MSRs. Refer to Note 8 Goodwill and Intangible Assets in our 2015 Form 10-K for more information on our accounti ng and measurement of MSRs. Changes in the commercial and residential MSRs follow: Table 70: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2016 2015 2016 2015 January 1 $ 526 $ 506 $ 1,063 $ 845 Additions: From loans sold with servicing retained 45 48 39 61 Purchases 25 43 154 261 Changes in fair value due to: Time and payoffs (a) (67) (66) (120) (136) Other (b) (56) (26) (316) (69) September 30 $ 473 $ 505 $ 820 $ 962 Related unpaid principal balance at September 30 $ 139,976 $ 143,915 $ 126,189 $ 121,680 Servicing advances at September 30 $ 251 $ 277 $ 322 $ 431 (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, 2016 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 the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions: Table 71: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2016 2015 Fair value $ 473 $ 526 Weighted-average life (years) 4.4 4.7 Weighted-average constant prepayment rate 7.75 % 5.71 % Decline in fair value from 10% adverse change $ 10 $ 10 Decline in fair value from 20% adverse change $ 20 $ 19 Effective discount rate 7.53 % 7.49 % Decline in fair value from 10% adverse change $ 12 $ 14 Decline in fair value from 20% adverse change $ 24 $ 29 Table 72: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2016 2015 Fair value $ 820 $ 1,063 Weighted-average life (years) 4.2 6.3 Weighted-average constant prepayment rate 18.28 % 10.61 % Decline in fair value from 10% adverse change $ 50 $ 44 Decline in fair value from 20% adverse change $ 94 $ 85 Weighted-average option adjusted spread 847 bps 893 bps Decline in fair value from 10% adverse change $ 23 $ 34 Decline in fair value from 20% adverse change $ 44 $ 67 Fees from mortgage loan servicing, which includes contractually specified servicing fees, late fees and ancillary fees were $ .1 billion for both the three months ended September 30, 2016 and 2015 , respectively, and $ .4 billion for both the nine months ended September 30, 2016 and 2015 , respectively. We also generate servicing fees from fee-based activities provided to others for which we do not have an associated servicing asset. Fees from commercial and residential MSRs are reported on our Consolidated Income Statement in the 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. See Note 8 Goodwill and Intangible Assets in our 2015 F orm 10-K for more information regarding our other intangible assets. |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2016 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | Note 8 Employee Benefit Plans Pension And Postretirement Plans As described in Note 12 Employee Benefit Plans in our 2015 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. Any pension contributions to the plan 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 variou s plans. PNC reserves the right to terminate or make changes to these plans at any time. The nonqualified pension is unfunded. The components of our net periodic pensi on and post retirement benefit cost for the three and nine months ended September 30, 2016 and 2015 , respectively, were as follows: Table 73: Net Periodic Pension and Postretirement Benefit Costs Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Three months ended September 30 In millions 2016 2015 2016 2015 2016 2015 Net periodic cost consists of: Service cost $ 26 $ 27 $ 1 $ 1 $ 1 $ 1 Interest cost 46 44 3 3 4 4 Expected return on plan assets (70) (75) (1) Amortization of prior service credit (2) (2) (1) Amortization of actuarial losses 12 8 1 2 Net periodic cost/(benefit) $ 12 $ 2 $ 5 $ 6 $ 4 $ 4 Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Nine months ended September 30 In millions 2016 2015 2016 2015 2016 2015 Net periodic cost consists of: Service cost $ 77 $ 80 $ 2 $ 2 $ 4 $ 4 Interest cost 139 133 9 9 11 11 Expected return on plan assets (211) (223) (3) Amortization of prior service credit (5) (6) (1) (1) Amortization of actuarial losses 34 23 3 5 Net periodic cost/(benefit) $ 34 $ 7 $ 14 $ 16 $ 11 $ 14 |
Financial Derivatives
Financial Derivatives | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | N ote 9 F inancial D erivatives 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 1 4 Financial Derivatives in our Notes To Consolidated Fin ancial Statements under Item 8 in our 201 5 Form 10-K. The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by PNC : Table 74: Total Gross Derivatives September 30, 2016 December 31, 2015 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 $ 52,466 $ 1,645 $ 309 $ 52,074 $ 1,159 $ 174 Derivatives not designated as hedging instruments under GAAP 296,321 5,502 5,098 295,902 3,782 3,628 Total gross derivatives $ 348,787 $ 7,147 $ 5,407 $ 347,976 $ 4,941 $ 3,802 (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, when appropriate, any related cash collateral exchanged with counterparties. Further discussion regarding the offsetting rights 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 75: Derivatives Designated As Hedging Instruments under GAAP September 30, 2016 December 31, 2015 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 $ 25,972 $ 989 $ 1 $ 25,756 $ 699 $ 18 Pay-fixed swaps (c) 7,715 1 307 5,934 13 153 Subtotal 33,687 990 308 31,690 712 171 Cash flow hedges: Receive-fixed swaps 17,579 487 1 17,879 412 2 Forward purchase commitments 200 1 1,400 4 1 Subtotal 17,779 488 1 19,279 416 3 Foreign exchange contracts: Net investment hedges 1,000 167 1,105 31 Total derivatives designated as hedging instruments $ 52,466 $ 1,645 $ 309 $ 52,074 $ 1,159 $ 174 (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 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 76: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges (a) Three months ended Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 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 millions Hedged Items Location in Income in Income in Income in Income in Income in Income in Income in Income Interest rate contracts U.S. Treasury and Government Agencies and Other Debt Securities Investment securities (interest income) $ 51 $ (53) $ (92) $ 94 $ (158) $ 161 $ (80) $ 82 Interest rate contracts Subordinated Debt and Bank Notes and Senior Debt Borrowed funds (interest expense) (232) 231 305 (323) 330 (369) 198 (236) Total (a) $ (181) $ 178 $ 213 $ (229) $ 172 $ (208) $ 118 $ (154) (a) The difference between the gains (losses) recognized in income on derivatives and their related hedged items represents the ineffective portion of the change in value of our fair value hedge derivatives. 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, 2016 , we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net der ivative gains of $ 199 million pretax, or $ 130 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, 2016 . The maximum length of time over which forecasted loan cash flows are hedged is five 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, 2016 , we expect to reclassify from the amount currently reported in Accumulated other comprehensive income, net derivative gains of $ 56 million pretax, or $ 36 million after-tax, as adjustments of yield on investment securities. As of September 30, 2016 , the maximu m length of time over which forecasted purchase contracts are hedged is one month. 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 2016 and 2015 , 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 (losses) on derivatives and related cash flows is presented in the following table: Table 77: 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 2016 2015 2016 2015 Gains (losses) on derivatives recognized in OCI - (effective portion) $ (63) $ 326 $ 328 $ 522 Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) Interest income 61 80 190 220 Noninterest income 1 12 (1) Total gains (losses) reclassified from accumulated OCI into income - (effective portion) $ 62 $ 92 $ 190 $ 219 Net unrealized gains (losses) on cash flow hedge derivatives $ (125) $ 234 $ 138 $ 303 (a) All cash flow hedge derivatives are interest rate contracts as of September 30, 2016 and September 30, 2015. (b) The amount of cash flow hedge ineffectiveness recognized in income was not significant 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. Net investment hedge deri vatives are classified as foreign exchange contracts. There were no components of derivative gains or losses excluded from the assessment of the hedge effectiveness. During the first nine months of 2016 and 2015 , there was no net investment h edge ineffectiveness. Gains (losses) on net investment hedge derivatives recognized in OCI were net gains of $ 27 million for the three months ended September 30, 2016 and net gains of $ 136 million for t he nine months ended September 30, 2016 compared with net gains of $ 43 million for the three months ended September 30, 2015 and net gains of $ 32 million for the nine months ended September 30, 2015 . 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 14 Financial Derivatives in our 2015 Form 10-K. Further detail regarding the notional amounts and fair values related to derivatives not designated in hedge relationships is presented in the following table: Table 78: Derivatives Not Designated As Hedging Instruments under GAAP September 30, 2016 December 31, 2015 In millions Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts: Swaps $ 37,604 $ 1,369 $ 893 $ 37,505 $ 758 $ 416 Swaptions 1,231 13 7 650 27 14 Futures (c) 18,428 17,653 Futures options 6,000 1 Mortgage-backed securities commitments 6,026 14 1 3,920 4 8 Subtotal 63,289 1,396 901 65,728 789 439 Loan sales Interest rate contracts: Futures (c) 15 20 Bond options 200 200 2 Mortgage-backed securities commitments 6,546 8 19 6,363 16 8 Residential mortgage loan commitments 2,231 32 1,580 16 Subtotal 8,992 40 19 8,163 34 8 Subtotal $ 72,281 $ 1,436 $ 920 $ 73,891 $ 823 $ 447 Derivatives used for commercial mortgage banking activities: Interest rate contracts: Swaps $ 4,925 $ 136 $ 64 $ 3,945 $ 77 $ 46 Swaptions 439 Futures (c) 3,322 18,454 Commercial mortgage loan commitments 1,407 15 7 1,176 11 6 Subtotal 9,654 151 71 24,014 88 52 Credit contracts 35 77 Subtotal $ 9,689 $ 151 $ 71 $ 24,091 $ 88 $ 52 Derivatives used for customer-related activities: Interest rate contracts: Swaps $ 168,512 $ 3,516 $ 3,520 $ 157,041 $ 2,507 $ 2,433 Caps/floors - Sold 5,140 10 5,337 11 Caps/floors - Purchased 6,462 19 6,383 18 Swaptions 4,773 150 6 4,363 86 13 Futures (c) 3,077 1,673 Mortgage-backed securities commitments 2,012 2 3 1,910 5 2 Subtotal 189,976 3,687 3,539 176,707 2,616 2,459 Foreign exchange contracts 12,064 185 159 10,888 194 198 Credit contracts 6,397 3 7 5,026 2 4 Subtotal $ 208,437 $ 3,875 $ 3,705 $ 192,621 $ 2,812 $ 2,661 Derivatives used for other risk management activities: Foreign exchange contracts $ 3,061 $ 40 $ 25 $ 2,742 $ 59 $ 6 Other contracts (d) 2,853 377 2,557 462 Subtotal $ 5,914 $ 40 $ 402 $ 5,299 $ 59 $ 468 Total derivatives not designated as hedging instruments $ 296,321 $ 5,502 $ 5,098 $ 295,902 $ 3,782 $ 3,628 (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 79: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP Three months ended Nine months ended September 30 September 30 In millions 2016 2015 2016 2015 Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts $ 7 $ 144 $ 343 $ 159 Loan sales Interest rate contracts 16 (6) 13 62 Gains (losses) included in residential mortgage banking activities (a) $ 23 $ 138 $ 356 $ 221 Derivatives used for commercial mortgage banking activities: Interest rate contracts (b) (c) $ (5) $ 42 $ 75 $ 47 Gains (losses) from commercial mortgage banking activities $ (5) $ 42 $ 75 $ 47 Derivatives used for customer-related activities: Interest rate contracts $ 23 $ 10 $ 20 $ 44 Foreign exchange contracts 26 23 72 56 Gains (losses) from customer-related activities (c) $ 49 $ 33 $ 92 $ 100 Derivatives used for other risk management activities: Interest rate contracts $ 1 Foreign exchange contracts $ 26 $ 94 $ (3) 208 Other contracts (d) (22) 47 (88) 54 Gains (losses) from other risk management activities (c) $ 4 $ 141 $ (91) $ 263 Total gains (losses) from derivatives not designated as hedging instruments $ 71 $ 354 $ 432 $ 631 (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 - 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 $ 3.9 billion at September 30 , 2016 and $ 2.5 billion at December 31, 2015 . Assuming all underlying third party customers referenced in the swap con tracts defaulted at September 30, 2016 , the exposure from these agreements would be $ 181 million based on the fair value of the underlying swaps, compared with $ 122 million at December 31, 2015 . 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 all outstanding derivative instruments under the master netting agreement with the same counterparty upon the occurrence of an event of default. The master netting agreement also may require the exchange of cash or marketable securiti es to collateralize either party’s net position. For additional information on derivative offsetting, counterparty credit risk, and contingent features see Note 1 4 Financial Derivatives in our 201 5 Form 10-K. Refer to Note 13 Commitments and Guara ntees in this Report for additional information related to resale and repurchase agreements offsetting. The following derivative Table 80 shows the impact legally enforceable master netting agreements had on our derivative assets and derivative liabilities as of September 30, 2016 and December 31, 2015 . The table includes cash collateral held or pledged under legally enforceable master netting agreements. The table also includes the fair value of any securities collate ral 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 80: Derivative Assets and Liabilities Offsetting Gross Fair Value Amounts Offset on the Consolidated Balance Sheet Net Fair Value Securities Collateral Held / (Pledged) Net Amounts September 30, 2016 Fair Value Offset Amount Cash Collateral Under Master Netting Agreements In millions Derivative assets Interest rate contracts: Cleared $ 2,002 $ 1,793 $ 184 $ 25 $ 25 Over-the-counter 4,750 1,844 557 2,349 $ 314 2,035 Foreign exchange contracts 392 213 40 139 139 Credit contracts 3 1 1 1 1 Total derivative assets $ 7,147 $ 3,851 $ 782 $ 2,514 (a) $ 314 $ 2,200 Derivative liabilities Interest rate contracts: Cleared $ 2,192 $ 1,794 $ 376 $ 22 $ 22 Over-the-counter 2,647 1,947 643 57 57 Foreign exchange contracts 184 105 24 55 55 Credit contracts 7 5 2 Other contracts 377 377 377 Total derivative liabilities $ 5,407 $ 3,851 $ 1,045 $ 511 (b) $ 511 December 31, 2015 In millions Derivative assets Interest rate contracts: Cleared $ 1,003 $ 779 $ 195 $ 29 $ 29 Over-the-counter 3,652 1,645 342 1,665 $ 178 1,487 Foreign exchange contracts 284 129 13 142 2 140 Credit contracts 2 1 1 Total derivative assets $ 4,941 $ 2,554 $ 551 $ 1,836 (a) $ 180 $ 1,656 Derivative liabilities Interest rate contracts: Cleared $ 855 $ 779 $ 57 $ 19 $ 19 Exchange-traded 1 1 1 Over-the-counter 2,276 1,687 530 59 59 Foreign exchange contracts 204 85 20 99 99 Credit contracts 4 3 1 Other contracts 462 462 462 Total derivative liabilities $ 3,802 $ 2,554 $ 608 $ 640 (b) $ 640 (a) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (b) Represents the net amount of derivative liabilities included in Other liabilities on our Consolidated Balance Sheet. The table above includes over-the-counter (OTC) derivatives, cleared derivatives, and exchange-traded derivatives. OTC derivatives represent contracts executed bilaterally with counterparties that are not settled through an organized exchange or cleared through a central clearing house. The majority of OTC derivatives are governed by ISDA documentation or other legally enforceable industry standard master netting agreements. Cleared derivatives represent contracts executed bilaterally with counter parties in the OTC market that are novated to a central clearing house who then becomes our counterparty. Exchange-traded derivatives represent standardized futures and options contracts executed directly on an organized exchange. In addition to using ma ster netting agreements and other collateral agreements to reduce credit risk associated with derivative instruments, we also seek to manage credit risk by evaluating credit ratings of counterparties and by using internal credit analysis, limits, and monit oring procedures. At September 30, 2016 , we held cash, U . S . government securities and mortgage-backed securities totaling $ 1.2 billion under master netting agreements and other collateral agreements to collateralize net derivativ e assets due from counterparties, and we pledged cash totaling $ 1.6 billion under these agreements to collateralize net derivative liabilities owed to counterparties and to meet initial margin requirements . These totals may differ from t he amounts presented in the preceding offsetting table because these totals may include collateral exchanged under an agreement that does not qualify as a master netting agreement or because the total amount of collateral held or pledged exceeds the net de rivative fair values with the counterparty as of the balance sheet date due to timing or other factors, such as initial margin. To the extent not netted against the derivative fair values 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 liabilities on our Consolidated Balance Sheet. Securities held from counterparties are not recognized on our balance sheet. Likewise securities we have pledged to counterpar ties remain on our balance sheet. Certain derivative agreements contain various credit-risk related contingent provisions, such as those that require PNC’s debt to maintain a specified credit rating from one or more of the major credit rating agencies. If PNC’s debt ratings were to fall below such specified ratings, the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full collateralization on derivative instruments in net liability positions. T he aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position on September 30, 2016 was $ 1.3 billion for whi ch PNC had posted collateral of $ 1.1 billion in the normal course of business. The maximum additional amount of collateral PNC would have been required to post if the credit-risk-related contingent features underlying these agreements had been triggered on September 30, 2016 would be $ .2 billion. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2016 | |
Earnings per Share | |
Earnings per Share | N OTE 10 E ARNINGS P ER S HARE Table 81: Basic and Diluted Earnings per Common Share Three months ended Nine months ended September 30 September 30 In millions, except per share data 2016 2015 2016 2015 Basic Net income $ 1,006 $ 1,073 $ 2,938 $ 3,121 Less: Net income (loss) attributable to noncontrolling interests 18 18 60 23 Preferred stock dividends and discount accretion and redemptions 64 64 172 182 Net income attributable to common shares 924 991 2,706 2,916 Less: Dividends and undistributed earnings allocated to participating securities 7 19 2 Net income attributable to basic common shares $ 917 $ 991 $ 2,687 $ 2,914 Basic weighted-average common shares outstanding 490 512 496 516 Basic earnings per common share (a) $ 1.87 $ 1.93 $ 5.41 $ 5.64 Diluted Net income attributable to basic common shares $ 917 $ 991 $ 2,687 $ 2,914 Less: Impact of BlackRock earnings per share dilution 4 4 10 14 Net income attributable to diluted common shares $ 913 $ 987 $ 2,677 $ 2,900 Basic weighted-average common shares outstanding 490 512 496 516 Dilutive potential common shares 6 8 6 9 Diluted weighted-average common shares outstanding 496 520 502 525 Diluted earnings per common share (a) $ 1.84 $ 1.90 $ 5.33 $ 5.52 (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 and restricted share units with nonforfeitable dividends and dividend rights (participating securities). |
Total Equity and Other Comprehe
Total Equity and Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2016 | |
Other Comprehensive Income [Abstract] | |
Total Equity And Other Comprehensive Income Disclosure [Text Block] | Note 11 Total Equity And Other Comprehensive Income Activity in total eq uity for the first nine months of 2015 and 2016 follows: Table 82: Rollforward of Total Equity Shareholders' Equity In millions Shares Outstanding Common Stock Common Stock Capital Surplus - Preferred Stock Capital Surplus - Common Stock and Other Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Non-controlling Interests Total Equity 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 (500) (500) Other 70 (216) (146) Balance at September 30, 2015 (a) 510 $ 2,708 $ 3,450 $ 12,675 $ 28,337 $ 615 $ (2,837) $ 1,330 $ 46,278 Balance at January 1, 2016 504 $ 2,708 $ 3,452 $ 12,745 $ 29,043 $ 130 $ (3,368) $ 1,270 $ 45,980 Net income 2,878 60 2,938 Other comprehensive income (loss), net of tax 516 516 Cash dividends declared Common ($1.57 per share) (791) (791) Preferred (168) (168) Preferred stock discount accretion 4 (4) Common stock activity (b) 1 10 11 Treasury stock activity (16) (23) (1,397) (1,420) Other (29) (192) (221) Balance at September 30, 2016 (a) 488 $ 2,709 $ 3,456 $ 12,703 $ 30,958 $ 646 $ (4,765) $ 1,138 $ 46,845 (a) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (b) Common stock activity totaled less than .5 million shares issued. Warrants We had 13.4 million warrants outstanding at both September 30, 2016 and December 31, 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 based on the excess of the market price of PNC common stock on the exercise date over the exercise price of the war rant. The outstanding warrants will expire as of December 31, 2018, and are considered in the calculation of diluted earnings per common share in Note 10 Earnings Per Share in this Report. Details of other comprehensive income (loss) are as follows: Table 83: Other Comprehensive Income Three Months Ended September 30 Nine Months Ended September 30 In millions 2016 2015 2016 2015 Net unrealized gains (losses) on non-OTTI securities Increase in net unrealized gains (losses) on non-OTTI securities $ (14) $ 139 $ 791 $ (75) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 5 6 19 20 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 6 (21) 20 42 Net increase (decrease), pre-tax (25) 154 752 (137) Effect of income taxes 10 (57) (275) 50 Net increase (decrease), after-tax (15) 97 477 (87) Net unrealized gains (losses) on OTTI securities Increase in net unrealized gains (losses) on OTTI securities 38 3 16 8 Less: OTTI losses realized on securities reclassified to noninterest income (1) (1) (3) Net increase (decrease), pre-tax 38 4 17 11 Effect of income taxes (14) (1) (6) (4) Net increase (decrease), after-tax 24 3 11 7 Net unrealized gains (losses) on cash flow hedge derivatives Increase in net unrealized gains (losses) on cash flow hedge derivatives (63) 326 328 522 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income 51 74 167 202 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 10 6 23 18 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 1 12 (1) Net increase (decrease), pre-tax (125) 234 138 303 Effect of income taxes 45 (86) (51) (111) Net increase (decrease), after-tax (80) 148 87 192 Pension and other postretirement benefit plan adjustments Net pension and other postretirement benefit activity (5) 36 Amortization of actuarial loss (gain) reclassified to other noninterest expense 13 10 37 28 Amortization of prior service cost (credit) reclassified to other noninterest expense (2) (3) (6) (7) Net increase (decrease), pre-tax 11 7 26 57 Effect of income taxes (5) (2) (10) (20) Net increase (decrease), after-tax 6 5 16 37 Other PNC's portion of BlackRock's OCI (28) (40) (34) Net investment hedge derivatives 27 43 136 32 Foreign currency translation adjustments and other (a) (24) (44) (136) (35) Net increase (decrease), pre-tax (25) (1) (40) (37) Effect of income taxes (a) (16) (35) Net increase (decrease), after-tax (25) (17) (75) (37) Total other comprehensive income, pre-tax (126) 398 893 197 Total other comprehensive income, tax effect 36 (162) (377) (85) Total other comprehensive income, after-tax $ (90) $ 236 $ 516 $ 112 (a) 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 84: Accumulated Other Comprehensive Income (Loss) Components In millions, after-tax Net unrealized gains (losses) on non-OTTI securities Net unrealized gains (losses) on OTTI securities Net unrealized gains (losses) on cash flow hedge derivatives Pension and other postretirement benefit plan adjustments Other Total Balance at June 30, 2015 $ 463 $ 78 $ 394 $ (488) $ (68) $ 379 Net activity 97 3 148 5 (17) 236 Balance at September 30, 2015 $ 560 $ 81 $ 542 $ (483) $ (85) $ 615 Balance at June 30, 2016 $ 778 $ 53 $ 597 $ (544) $ (148) $ 736 Net activity (15) 24 (80) 6 (25) (90) Balance at September 30, 2016 $ 763 $ 77 $ 517 $ (538) $ (173) $ 646 Balance at December 31, 2014 $ 647 $ 74 $ 350 $ (520) $ (48) $ 503 Net activity (87) 7 192 37 (37) 112 Balance at September 30, 2015 $ 560 $ 81 $ 542 $ (483) $ (85) $ 615 Balance at December 31, 2015 $ 286 $ 66 $ 430 $ (554) $ (98) $ 130 Net activity 477 11 87 16 (75) 516 Balance at September 30, 2016 $ 763 $ 77 $ 517 $ (538) $ (173) $ 646 |
Legal Proceedings
Legal Proceedings | 9 Months Ended |
Sep. 30, 2016 | |
Legal Proceedings [Abstract] | |
Legal Proceedings | N OTE 12 L egal P roceedings 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 12 as well as those matters disclosed in Note 20 Legal Proceedings in Part II, Item 8 of our 2015 Form 10-K, in Note 14 Legal Proceedings in Part I, Item 1 of our first quarter 2016 Form 10-Q and in Note 12 Legal Proceedings in Part I, Item 1 of our second quarter 2016 Form 10-Q (such prior disclosure collectively ref erred to as “Prior Disclosure”)). For Disclosed Matters where we are able to estimate such possible losses or ranges of possible losses, as of September 30, 2016 , we estimate that it is reasonably possible that we could incur losses in excess of related ac crued liabilities, if any, in an aggregate amount of up to approximately $ 525 million. The estimates included in this amount are based on our analysis of currently available information and are subject to significant judgment an d a variety of assumptions and uncertainties. As new information is obtained we 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 agg regate amount may not represent the ultimate loss to us from the legal proceedings 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, lega l proceedings are inherently unpredictable. One or more of the following factors frequently contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whe ther 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 possibility of fines and penalties); the matter presents meaningful legal uncertainties, including novel issues of law; we have not engaged in meaningful settlement discussions; disc overy has not started or is not complete; there are significant facts in dispute; 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 range 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 are reasonably possible to be incurred 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 Di sclosed 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 es timated aggregate amount also does not reflect any of our exposure to matters 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 plaint iff’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 represe nt our estimate of reasonably possible loss or our judgment as to any currently 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 covera ge in determining the amounts of any accruals (although we record the amount 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 fol lowing updates our disclosure of legal proceedings from that provided in Prior Disclosure. CBNV Mortgage Litigation In August 2016 , in the lawsuits consolidated for pre-trial proceedings in the U.S. 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 reached a settlement with the plaintiffs, subject to notice to the class and court approval. In September 2016 , the court g ranted preliminary approval, authorized the sending of notice to the class, set the timing for objections and scheduled a final approval hearing for December 2016 . Under this settlement, the matter will be submitted to binding arbitration before a panel of three arbitrators, who will determine whether we will pay the plaintiff class either an amount (inclusive of class counsel fees and expenses) we proposed ($24 million) or an amount proposed by the plaintiffs ($70 million), with no discretion to choose any other amount. The court has ordered the arbitrators to reach a decision by the end of March 2017. Captive Mortgage Reinsurance Litigation In September 2016 , in White, et al. v. The PNC Financial Services Group, Inc., et al. (Civil Action No. 11-7928), p ending in the U.S. District Court for the Eastern District of Pennsylvania, the plaintiffs moved to lift the stay and for permission to file a Third Amended Class Action Complaint. The proposed amended complaint, if allowed, would add claims under the Rack eteer Influenced and Corrupt Organizations Act (RICO) and would assert that the RESPA claim is not barred by the statute of limitations because every acceptance of a reinsurance premium is a new “occurrence” for these purposes. We have opposed the motion to amend. Pre-need Funeral Arrangements The cross appeals by the PNC defendants and the plaintiffs in Jo Ann Howard, P.C., et al. v. Cassity , et al. (No. 4:09-CV-1252-ERW) were argued before the U.S. Court of Appeals for the Eighth Circuit in September 2016 . 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 consumer, mortgage, brokerage, securities and other financial services businesses, as well as other aspects of our operations. In some cases, these inquiries are part of reviews of specified activities at multiple industry participants; in others, they are directed at PNC individually. These inquiries, including thos e described below and in Prior Disclosure, may lead to administrative, civil or criminal proceedings, and possibly result in remedies including fines, penalties, restitution, or alterations in our business practices, and in additional expenses and collater al costs and other consequences. These inquiries may result in significant reputational harm or other adverse collateral consequences even if direct resulting remedies are not material to PNC. • Through the U.S. Attorney’s Office for the District of Maryl and, the office of the Inspector General for the Small Business Administration (SBA) served a subpoena on PNC in 2012 requesting documents concerning PNC’s relationship with, including SBA-guaranteed loans made through, a broker named Jade Capital Investme nts, LLC (Jade), as well as information regarding other PNC-originated SBA guaranteed loans made to businesses located in the State of Maryland, the Commonwealth of Virginia, and Washington, D.C. Certain of the Jade loans have been identified in an indictm ent and subsequent superseding indictment charging persons associated with Jade with conspiracy to commit bank fraud, substantive violations of the federal bank fraud statute, and money laundering. In August 2016 , we completed a settlement, without any adm ission of liability, in the amount of $9.5 million that resolves the U.S. Attorney’s Office investigation. Our practice is to cooperate fully with regulatory and governmental investigations, audits and other inquiries, including those described in this No te 12 and in Prior 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 threat ened legal proceedings 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 ef fect on our financial 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 effect 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 2 1 Commitments and Guarantees in Part II, Item 8 of our 2015 Form 10-K for additional information regarding the Visa indemnification and our other obligations to provide indemnification, including to current and former officers, directors, employees and age nts of PNC and companies we have acquired. |
Commitments and Guarantees
Commitments and Guarantees | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Guarantees [Abstract] | |
Commitments and Guarantees | Note 13 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, 2016 and December 31, 2015 , respectively. Table 85: Commitments to Extend Credit and Other Commitments September 30 December 31 In millions 2016 2015 Commitments to extend credit Total commercial lending $ 104,124 $ 101,252 Home equity lines of credit 17,316 17,268 Credit card 21,907 19,937 Other 4,493 4,032 Total commitments to extend credit 147,840 142,489 Net outstanding standby letters of credit (a) 8,760 8,765 Reinsurance agreements (b) 1,880 2,010 Standby bond purchase agreements (c) 868 911 Other commitments (d) 980 966 Total commitments to extend credit and other commitments $ 160,328 $ 155,141 (a) Net outstanding standby letters of credit include $4.4 billion and $4.7 billion which support remarketing programs at September 30, 2016 and December 31, 2015, respectively. (b) Represents aggregate maximum exposure up to the specified limits of the reinsurance contracts, and reflects estimates based on availability of financial information from insurance carriers. As of September 30, 2016, the aggregate maximum exposure amount comprised $1.6 billion for accidental death & dismemberment contracts and $.3 billion for credit life, accident & health contracts. Comparable amounts at December 31, 2015 were $1.6 billion and $.4 billion, respectively. (c) We enter into standby bond purchase agreements to support municipal bond obligations. (d) Includes $.4 billion and $.5 billion related to investments in qualified affordable housing projects at September 30, 2016 and December 31, 2015, respectively. 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 86: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit September 30 December 31 2016 2015 Internal credit ratings (as a percentage of portfolio): Pass (a) 92 % 93 % Below pass (b) 8 % 7 % (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, 2016 had terms ranging from less than 1 year to 8 years. As of September 30, 2016 , 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 $ .2 billion at September 30, 2016 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, and accident & health , all o f which are in run-off. This subsidiary previously entered into these various types of reinsurance agreements with third-party insurers where the subsidiary assumed the risk of loss through quota share agreements up to 100% reinsurance. In quota share agr eements, the subsidiary and the third-party insurers share the responsibility for payment of all claims. 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. See Note 21 Commitments and Guarantees in our 2015 Form 10-K for details related to our Recourse and Repurchase Obligations. 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 offset 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 87 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 87 . Refer to Note 9 Financial Derivatives for additional information related to offsetting of financial derivatives. Table 87: Resale and Repurchase Agreements Offsetting In millions Gross Resale / Repurchase Agreements Amounts Offset on the Consolidated Balance Sheet Net Resale / Repurchase Agreements (a) Securities Collateral Held / Pledged Under Master Netting Agreements (b) Net Amounts Resale Agreements September 30, 2016 $ 637 $ 637 $ 563 $ 74 (c) December 31, 2015 $ 1,082 $ 1,082 $ 1,008 $ 74 (c) Repurchase Agreements (d) September 30, 2016 $ 1,231 $ 1,231 $ 532 $ 699 (e) December 31, 2015 $ 1,767 $ 1,767 $ 1,014 $ 753 (e) (a) Resale agreements are included on the Consolidated Balance Sheet in Federal funds sold and resale agreements. Repurchase agreements are included on the Consolidated Balance Sheet in Federal funds purchased and repurchase agreements. (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) Repurchase agreements have remaining contractual maturities that are classified as overnight or continuous. As of September 30, 2016 and December 31, 2015, the collateral pledged under these agreements consisted primarily of residential mortgage-backed agency securities. (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, 2016 and December 31, 2015. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting | Note 14 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 significant and practicable, retrospective application of new methodologies 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 ba sis. Additionally, 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 characteri stics, tenor and other factors. A portion of capital is intended to cover unexpected losses and is a ssigned to our business segments using our risk-based economic capital 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 for 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 p rocesses 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 with 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 and Services Retail Banking provides deposit, lending, b rokerage, investment management and cash management servi ces 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 primarily in Pennsylvania, Ohio , New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina , Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina . Corporate & Institutional Banking provides lending, 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. Treasury management services incl ude 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, derivatives, securities, lo an syndications , mergers and acquisitions advisory and equity capital markets advisory related services . We also provide commercial loan servicing and technology solutions for the commercial real estate finance 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 and 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 administration for individuals and their families. Our Hawthorn unit provides multi-generational family planning including wealth strategy, investment management, private banking, tax and estate planning guidance, performance reporting and personal administration servic es to ultra high net worth families. Institutional asset management provides advisory , custody administration and retirement administration services. The business also offers PNC proprietary mutual funds and investment strategies . Institutional clients include corporat ions, 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 presence 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 with 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 a ll 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 ma nagement 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 i nclude 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 provides us with an additional source of noninterest income and increases our overall revenue diversification. BlackRock is a publicly traded company, and additi onal information regarding its business is available in its filings with the Securities and Exchange Commission (SEC). At September 30, 2016 , our economic interest in BlackRock was 22% . PNC received cash dividends from BlackRock of $ 248 million and $ 240 million during the first nine months of 2016 and 2015 , respectively. Non-Strategic Assets Portfolio includes a consumer portfolio of mainly residential mortgage and brokered home equ ity loans and lines of credit and a small commercial lending portfolio. We obta ined a significant portion of these non-strategic assets through acquisitions of other companies. Table 88: 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 (a) 2016 Income Statement Net interest income $ 1,120 $ 840 $ 74 $ 28 $ 72 $ (39) $ 2,095 Noninterest income 527 517 220 163 $ 189 8 110 1,734 Total revenue 1,647 1,357 294 191 189 80 71 3,829 Provision for credit losses (benefit) 104 12 (3) (22) (4) 87 Depreciation and amortization 40 35 11 3 120 209 Other noninterest expense 1,151 520 195 167 16 136 2,185 Income (loss) before income taxes and noncontrolling interests 352 790 91 21 189 86 (181) 1,348 Income taxes (benefit) 129 253 33 8 41 32 (154) 342 Net income (loss) $ 223 $ 537 $ 58 $ 13 $ 148 $ 54 $ (27) $ 1,006 Average Assets (b) $ 71,219 $ 139,806 $ 7,588 $ 6,160 $ 7,026 $ 5,302 $ 126,769 $ 363,870 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 Average Assets (b) $ 72,916 $ 131,613 $ 7,902 $ 6,513 $ 6,813 $ 6,460 $ 126,370 $ 358,587 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 (a) 2016 Income Statement Net interest income $ 3,350 $ 2,500 $ 227 $ 81 $ 220 $ (117) $ 6,261 Noninterest income 1,628 1,484 636 450 $ 500 35 294 5,027 Total revenue 4,978 3,984 863 531 500 255 177 11,288 Provision for credit losses (benefit) 210 188 (16) (16) 366 Depreciation and amortization 121 107 34 8 356 626 Other noninterest expense 3,388 1,518 584 450 57 412 6,409 Income (loss) before income taxes and noncontrolling interests 1,259 2,171 245 73 500 214 (575) 3,887 Income taxes (benefit) 461 713 90 27 110 79 (531) 949 Net income (loss) $ 798 $ 1,458 $ 155 $ 46 $ 390 $ 135 $ (44) $ 2,938 Average Assets (b) $ 71,658 $ 137,884 $ 7,743 $ 6,078 $ 7,026 $ 5,580 $ 123,638 $ 359,607 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 Average Assets (b) $ 73,430 $ 131,678 $ 7,922 $ 6,962 $ 6,813 $ 6,880 $ 119,448 $ 353,133 (a) There were no material intersegment revenues for the three and nine months ended September 30, 2016 and 2015. (b) Period-end balances for BlackRock. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | N ote 15 S ubsequent E vents On November 1, 2016, we issued 525,000 depositary shares, each representing a 1/100 th interest in a share of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S, in an underwritten public offering resulting in gross proceeds of $525 million to us before commissions and expenses. We issued 5,250 shares of Series S Preferred Stock to the depositary in this transaction. We intend to use the net proceeds from the sale of the depositary shares for general corporate purposes, which may include advances to our subsidiaries to finance their activities, repayment of outstan ding indebtedness, and repurchases and redemptions of issued and outstanding securities of PNC and its subsidiaries. |
Accounting Policies - 10-Q (Pol
Accounting Policies - 10-Q (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Business and Basis of Financial Statement Presentation | Notes To Consolidated Financial Statements The PNC Financial Services Group, Inc. B usiness 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 products and services in our primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. We also p rovide certain products and services internationally. N ote 1 A ccounting P olicies Basis o f Financial Statement Presentation Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, 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 eliminated interc ompany accounts and transactions. We have also reclassified certain prior year amounts to conform to the 2016 presentation, which did not have a material impact on our consolidated financial condition or results of operations. Additionally, we eval uate 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. 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. We have also considered the impact of subsequent events on these consolidated financial statements. When preparing these unaudited interim consolidated financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2015 Annual Report on Form 10-K . Reference is made to Note 1 Accounting Policies in the 2015 Form 10-K for a detailed description of significa nt accounting policies. There have been no significant changes to our accounting policies as disclosed in the 2015 Annual Report on Form 10-K. These interim consolidated financial statements serve to update the 2015 Form 10-K and may not include al l information and notes necessary to constitute a complete set of financial statements. |
Use of Estimates | 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. |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards We did not adopt new accounting standards that had a sign ificant impact during the third quarter of 2016 . |
Loan Sale and Servicing Activ23
Loan Sale and Servicing Activities and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract] | |
Cash Flows Associated with Loan Sale and Servicing Activities | Table 41: 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, 2016 Sales of loans (c) $ 1,950 $ 1,342 Repurchases of previously transferred loans (d) $ 133 Servicing fees (e) $ 95 $ 31 $ 2 Servicing advances recovered/(funded), net $ 13 $ (7) $ 1 Cash flows on mortgage-backed securities held (f) $ 466 $ 31 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 - Nine months ended September 30, 2016 Sales of loans (c) $ 4,796 $ 2,796 Repurchases of previously transferred loans (d) $ 396 Servicing fees (e) $ 281 $ 93 $ 8 Servicing advances recovered/(funded), net $ 89 $ 21 Cash flows on mortgage-backed securities held (f) $ 1,235 $ 228 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 (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 residential mortgage government insured or guaranteed loans eligible for repurchase through the exercise of our Removal of Account Provision (ROAP) option, and loans repurchased due to alleged breaches of origination covenants or representations and warranties made to purchasers. Includes home equity lines of credit repurchased at the end of their draw periods due to contractual requirements. (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 values of such securities held were $6.7 billion in residential mortgage-backed securities and $1.0 billion in commercial mortgage-backed securities at September 30, 2016 and $5.8 billion in residential mortgage-backed securities and $1.1 billion in commercial mortgage-backed securities at September 30, 2015. Additionally, at December 31, 2015, the carrying values of such securities held were $6.6 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 42: 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, 2016 Total principal balance $ 67,585 $ 46,652 $ 2,410 Delinquent loans (c) $ 1,485 $ 1,082 $ 889 December 31, 2015 Total principal balance $ 72,898 $ 53,789 $ 2,806 Delinquent loans (c) $ 1,923 $ 1,057 $ 904 Three months ended September 30, 2016 Net charge-offs (d) $ 24 $ 168 $ 9 Three months ended September 30, 2015 Net charge-offs (d) $ 23 $ 236 $ 6 Nine months ended September 30, 2016 Net charge-offs (d) $ 78 $ 1,237 $ 25 Nine months ended September 30, 2015 Net charge-offs (d) $ 92 $ 491 $ 21 (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 commercial mortgage backed 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 43: Consolidated VIEs – Carrying Value (a) September 30, 2016 (b) In millions Total Assets Equity investments $ 205 Other assets 21 Total assets $ 226 Total liabilities $ 9 Noncontrolling interests $ 121 December 31, 2015 In millions Total Assets Cash and due from banks $ 11 Interest-earning deposits with banks 4 Loans 1,341 Allowance for loan and lease losses (48) Equity investments 183 Other assets 402 Total assets $ 1,893 Liabilities Other borrowed funds $ 148 Accrued expenses 44 Other liabilities 202 Total liabilities $ 394 Noncontrolling interests $ 99 (a) Amounts represent carrying value on PNC’s Consolidated Balance Sheet. (b) Amounts for September 30, 2016 reflect the first quarter 2016 adoption of ASU 2015-02. |
Non-Consolidated VIEs | Table 44: 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, 2016 (b) Commercial Mortgage-Backed Securitizations (c) $ 1,089 $ 1,089 (d) Residential Mortgage-Backed Securitizations (c) 6,764 6,764 (d) $ 1 (f) Tax Credit Investments and Other 3,138 3,072 (e) 807 (g) Total $ 10,991 $ 10,925 $ 808 December 31, 2015 Commercial Mortgage-Backed Securitizations (c) $ 1,498 $ 1,498 (d) $ 1 (f) Residential Mortgage-Backed Securitizations (c) 6,680 6,680 (d) 1 (f) Tax Credit Investments and Other 2,551 2,622 (e) 836 (g) Total $ 10,729 $ 10,800 $ 838 (a) This represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). (b) Amounts for September 30, 2016 reflect the first quarter 2016 adoption of ASU 2015-02. (c) 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. (d) Included in Trading securities, Investment securities, Other intangible assets and Other assets on our Consolidated Balance Sheet. (e) Included in Loans, Equity investments and Other assets on our Consolidated Balance Sheet. (f) Included in Other liabilities on our Consolidated Balance Sheet. (g) Included in Deposits and Other liabilities on our Consolidated Balance Sheet. |
Asset Quality (Tables)
Asset Quality (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Asset Quality [Abstract] | |
Analysis of Loan Portfolio | Table 45: 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, 2016 Commercial Lending Commercial $ 100,845 $ 64 $ 24 $ 37 $ 125 $ 521 $ 21 $ 101,512 Commercial real estate 28,993 26 1 27 152 101 29,273 Equipment lease financing 7,357 1 2 3 18 7,378 Total commercial lending 137,195 91 27 37 155 691 122 138,163 Consumer Lending Home equity 28,267 55 27 82 895 1,188 30,432 Residential real estate 11,969 110 71 496 677 (f) 502 $ 223 1,770 15,141 Credit card 4,947 28 19 31 78 4 5,029 Other consumer 21,163 170 92 202 464 (g) 54 21,681 Total consumer lending 66,346 363 209 729 1,301 1,455 223 2,958 72,283 Total $ 203,541 $ 454 $ 236 $ 766 $ 1,456 $ 2,146 $ 223 $ 3,080 $ 210,446 Percentage of total loans 96.72 % .22 % .11 % .36 % .69 % 1.02 % .11 % 1.46 % 100.00 % December 31, 2015 Commercial Lending Commercial $ 98,075 $ 69 $ 32 $ 45 $ 146 $ 351 $ 36 $ 98,608 Commercial real estate 27,134 10 4 14 187 133 27,468 Equipment lease financing 7,440 19 2 21 7 7,468 Total commercial lending 132,649 98 38 45 181 545 169 133,544 Consumer Lending Home equity 29,656 63 30 93 977 1,407 32,133 Residential real estate 10,918 142 65 566 773 (f) 549 $ 225 1,946 14,411 Credit card 4,779 28 19 33 80 3 4,862 Other consumer 21,181 180 96 237 513 (g) 52 21,746 Total consumer lending 66,534 413 210 836 1,459 1,581 225 3,353 73,152 Total $ 199,183 $ 511 $ 248 $ 881 $ 1,640 $ 2,126 $ 225 $ 3,522 $ 206,696 Percentage of total loans 96.36 % .25 % .12 % .43 % .80 % 1.03 % .11 % 1.70 % 100.00 % (a) Amounts in table represent recorded investment and exclude loans held for sale. 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) 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 $1.3 billion and $1.4 billion at September 30, 2016 and December 31, 2015, respectively. (e) Future accretable yield related to purchased impaired loans is not included in the analysis of loan portfolio. (f) Past due loan amounts include government insured or guaranteed Residential real estate mortgages totaling $579 million and $646 million at September 30, 2016 and December 31, 2015, respectively. (g) Past due loan amounts include government insured or guaranteed Other consumer loans totaling $361 million and $411 million at September 30, 2016 and December 31, 2015, respectively. |
Nonperforming Assets | Table 46: Nonperforming Assets September 30 December 31 Dollars in millions 2016 2015 Nonperforming loans Total commercial lending $ 691 $ 545 Total consumer lending (a) 1,455 1,581 Total nonperforming loans (b) (c) 2,146 2,126 OREO and foreclosed assets Other real estate owned (OREO) 217 279 Foreclosed and other assets 12 20 Total OREO and foreclosed assets 229 299 Total nonperforming assets $ 2,375 $ 2,425 Nonperforming loans to total loans 1.02 % 1.03 % Nonperforming assets to total loans, OREO and foreclosed assets 1.13 % 1.17 % Nonperforming assets to total assets .64 % .68 % (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) 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. (c) The recorded investment of loans collateralized by residential real estate property that are in process of foreclosure was $.4 billion and $.6 billion at September 30, 2016 and December 31, 2015, both included $.3 billion of loans that are government insured/guaranteed. |
Commercial Lending Asset Quality Indicators | Table 47: 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, 2016 Commercial $ 96,035 $ 2,046 $ 3,335 $ 75 $ 101,491 Commercial real estate 28,768 60 328 16 29,172 Equipment lease financing 7,185 69 116 8 7,378 Purchased impaired loans 35 1 80 6 122 Total commercial lending $ 132,023 $ 2,176 $ 3,859 $ 105 $ 138,163 December 31, 2015 Commercial $ 93,364 $ 2,029 $ 3,089 $ 90 $ 98,572 Commercial real estate 26,729 120 481 5 27,335 Equipment lease financing 7,230 87 150 1 7,468 Purchased impaired loans 6 157 6 169 Total commercial lending $ 127,323 $ 2,242 $ 3,877 $ 102 $ 133,544 (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 48: Home Equity and Residential Real Estate Balances September 30 December 31 In millions 2016 2015 Home equity and residential real estate loans - excluding purchased impaired loans (a) $ 41,764 $ 42,268 Home equity and residential real estate loans - purchased impaired loans (b) 3,211 3,684 Government insured or guaranteed residential real estate mortgages (a) 851 923 Difference between outstanding balance and recorded investment in purchased impaired loans (253) (331) Total home equity and residential real estate loans (a) $ 45,573 $ 46,544 (a) Represents recorded investment. (b) Represents outstanding balance. |
Home Equity and Residential Real Estate Asset Quality Indicators | Table 49: Home Equity and Residential Real Estate Asset Quality Indicators – Excluding Purchased Impaired Loans (a) (b) Home Equity Residential Real Estate September 30, 2016 - 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 $ 197 $ 726 $ 205 $ 1,128 Less than or equal to 660 (d) (e) 40 135 38 213 Missing FICO 5 3 8 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 480 1,372 391 2,243 Less than or equal to 660 (d) (e) 78 240 88 406 Missing FICO 1 3 12 16 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 535 1,233 520 2,288 Less than or equal to 660 77 195 78 350 Missing FICO 2 2 12 16 Less than 90% and updated FICO scores: Greater than 660 13,934 7,771 10,458 32,163 Less than or equal to 660 1,334 850 593 2,777 Missing FICO 22 12 122 156 Total home equity and residential real estate loans $ 16,700 $ 12,544 $ 12,520 $ 41,764 Home Equity Residential Real Estate December 31, 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 $ 283 $ 960 $ 284 $ 1,527 Less than or equal to 660 (d) (e) 40 189 68 297 Missing FICO 1 8 5 14 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 646 1,733 564 2,943 Less than or equal to 660 (d) (e) 92 302 102 496 Missing FICO 3 4 8 15 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 698 1,492 615 2,805 Less than or equal to 660 88 226 94 408 Missing FICO 1 3 10 14 Less than 90% and updated FICO scores: Greater than 660 13,895 7,808 9,117 30,820 Less than or equal to 660 1,282 923 570 2,775 Missing FICO 31 18 105 154 Total home equity and residential real estate loans $ 17,060 $ 13,666 $ 11,542 $ 42,268 (a) Excludes purchased impaired loans of approximately $3.0 billion and $3.4 billion in recorded investment at September 30, 2016 and December 31, 2015, respectively, certain government insured or guaranteed residential real estate mortgages of approximately $.9 billion, and loans held for sale at both September 30, 2016 and December 31, 2015. 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, 2016: New Jersey 17%, Pennsylvania 13%, Illinois 11%, Ohio 11%, Florida 7%, Maryland 7%, Michigan 4%, and North Carolina 4%. The remainder of the states had lower than 4% of the higher risk loans individually, and collectively they represent approximately 26% of the higher risk loans. The following states had the highest percentage of higher risk loans at December 31, 2015: New Jersey 14%, Pennsylvania 12%, Illinois 11%, Ohio 11%, Florida 7%, Maryland 7% and Michigan 5%. The remainder of the states had lower than 4% of the high risk loans individually, and collectively they represent approximately 33% of the higher risk loans. Table 50: Home Equity and Residential Real Estate Asset Quality Indicators – Purchased Impaired Loans (a) Home Equity (b) (c) Residential Real Estate (b) (c) September 30, 2016 - 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 $ 4 $ 118 $ 144 $ 266 Less than or equal to 660 4 53 49 106 Missing FICO 3 6 9 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 8 284 146 438 Less than or equal to 660 8 117 94 219 Missing FICO 4 9 13 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 7 152 106 265 Less than or equal to 660 5 66 55 126 Missing FICO 2 6 8 Less than 90% and updated FICO scores: Greater than 660 110 322 607 1,039 Less than or equal to 660 83 166 399 648 Missing FICO 1 5 48 54 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 1 3 4 Missing FICO 1 1 Total home equity and residential real estate loans $ 232 $ 1,292 $ 1,687 $ 3,211 Home Equity (b) (c ) Residential Real Estate (b) (c) December 31, 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 $ 6 $ 164 $ 147 $ 317 Less than or equal to 660 6 79 76 161 Missing FICO 7 5 12 Greater than or equal to 100% to less than 125% and updated FICO scores: Greater than 660 12 331 186 529 Less than or equal to 660 9 145 118 272 Missing FICO 8 7 15 Greater than or equal to 90% to less than 100% and updated FICO scores: Greater than 660 10 167 133 310 Less than or equal to 660 6 75 68 149 Missing FICO 4 3 7 Less than 90% and updated FICO scores: Greater than 660 106 345 665 1,116 Less than or equal to 660 91 182 455 728 Missing FICO 1 13 31 45 Missing LTV and updated FICO scores: Greater than 660 1 14 15 Less than or equal to 660 1 6 7 Missing FICO 1 1 Total home equity and residential real estate loans $ 249 $ 1,520 $ 1,915 $ 3,684 (a) Amounts shown represent outstanding balance. (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 both September 30, 2016 and December 31, 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. (d) Based upon updated LTV (inclusive of combined loan-to-value (CLTV) for first and subordinate lien positions) which is estimated using modeled property values and 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 51: 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, 2016 FICO score greater than 719 $ 3,029 60 % $ 10,073 66 % 650 to 719 1,412 28 3,717 24 620 to 649 209 4 512 3 Less than 620 225 5 577 4 No FICO score available or required (c) 154 3 438 3 Total loans using FICO credit metric 5,029 100 % 15,317 100 % Consumer loans using other internal credit metrics (b) 6,364 Total loan balance $ 5,029 $ 21,681 Weighted-average updated FICO score (d) 734 746 December 31, 2015 FICO score greater than 719 $ 2,936 60 % $ 9,371 65 % 650 to 719 1,346 28 3,534 24 620 to 649 202 4 523 4 Less than 620 227 5 604 4 No FICO score available or required (c) 151 3 501 3 Total loans using FICO credit metric 4,862 100 % 14,533 100 % Consumer loans using other internal credit metrics (b) 7,213 Total loan balance $ 4,862 $ 21,746 Weighted-average updated FICO score (d) 734 744 (a) At September 30, 2016, we had $32 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, 2016 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Pennsylvania 17%, Ohio 15%, Michigan 8%, New Jersey 8%, Florida 7%, Illinois 6%, Maryland 5%, Indiana 5%, North Carolina 5% and Kentucky 4%. All other states had less than 4% individually and make up the remainder of the balance. At December 31, 2015, we had $34 million of credit card loans that are higher risk. The majority of the December 31, 2015 balance related to higher risk credit card loans was geographically distributed throughout the following areas: Ohio 17%, Pennsylvania 15%, Michigan 8%, New Jersey 8%, Florida 7%, Illinois 6%, Indiana 6%, Maryland 4% 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 | Troubled Debt Restructurings (TDRs) Table 52: Summary of Troubled Debt Restructurings September 30 December 31 In millions 2016 2015 Total commercial lending $ 527 $ 434 Total consumer lending 1,832 1,917 Total TDRs $ 2,359 $ 2,351 Nonperforming $ 1,177 $ 1,119 Accruing (a) 1,182 1,232 Total TDRs $ 2,359 $ 2,351 (a) Accruing loans include consumer credit card loans and loans that 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 53: Financial Impact and TDRs by Concession Type (a) Pre-TDR Post-TDR Recorded Investment (c) During the three months ended September 30, 2016 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness (d) Reduction (e) Other (f) Total Total commercial lending 37 $ 108 $ 1 $ 96 $ 97 Total consumer lending 2,800 62 37 22 59 Total TDRs 2,837 $ 170 $ 38 $ 118 $ 156 During the three months ended September 30, 2015 Dollars in millions Total commercial lending 39 $ 80 $ 15 $ 47 $ 62 Total consumer lending 3,014 95 $ 62 28 90 Total TDRs 3,053 $ 175 $ 15 $ 62 $ 75 $ 152 Pre-TDR Post-TDR Recorded Investment (c) During the nine months ended September 30, 2016 Number Recorded Principal Rate Dollars in millions of Loans Investment (b) Forgiveness (d) Reduction (e) Other (f) Total Total commercial lending 109 $ 480 $ 53 $ 379 $ 432 Total consumer lending 8,435 187 119 58 177 Total TDRs 8,544 $ 667 $ 172 $ 437 $ 609 During the nine months ended September 30, 2015 Dollars in millions Total commercial lending 114 $ 185 $ 20 $ 4 $ 120 $ 144 Total consumer lending 8,400 250 150 89 239 Total TDRs 8,514 $ 435 $ 20 $ 154 $ 209 $ 383 (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 prior to TDR designation, and excludes immaterial amounts of accrued interest receivable. (c) Represents the recorded investment of the TDRs as of the end of the quarter in which the TDR occurs, and excludes immaterial amounts of accrued interest receivable. (d) Includes principal forgiveness and accrued interest forgiveness. These types of TDRs result in a write down of the recorded investment and a charge-off if such action has not already taken place. (e) Includes reduced interest rate and interest deferral. The TDRs within this category result in reductions to future interest income. (f) Primarily includes consumer borrowers that have been discharged from personal liability through Chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to PNC, as well as postponement/reduction of scheduled amortization and contractual extensions for both consumer and commercial borrowers. |
Impaired Loans | Table 54: Impaired Loans Unpaid Average Principal Recorded Associated Recorded In millions Balance Investment Allowance (a) Investment (b) September 30, 2016 Impaired loans with an associated allowance Commercial $ 544 $ 389 $ 92 $ 394 Commercial real estate 221 102 28 108 Home equity 891 859 186 893 Residential real estate 227 222 29 249 Credit card 104 104 24 106 Other consumer 27 25 1 25 Total impaired loans with an associated allowance $ 2,014 $ 1,701 $ 360 $ 1,775 Impaired loans without an associated allowance Commercial $ 379 $ 265 $ 232 Commercial real estate 135 115 143 Home equity 486 221 205 Residential real estate 508 394 390 Other consumer 23 7 8 Total impaired loans without an associated allowance $ 1,531 $ 1,002 $ 978 Total impaired loans $ 3,545 $ 2,703 $ 360 $ 2,753 December 31, 2015 Impaired loans with an associated allowance Commercial $ 442 $ 337 $ 84 $ 306 Commercial real estate 254 130 35 197 Home equity 978 909 216 965 Residential real estate 272 264 35 359 Credit card 108 108 24 118 Other consumer 31 26 1 32 Total impaired loans with an associated allowance $ 2,085 $ 1,774 $ 395 $ 1,977 Impaired loans without an associated allowance Commercial $ 201 $ 118 $ 87 Commercial real estate 206 158 168 Home equity 464 206 158 Residential real estate 512 396 346 Other consumer 24 8 8 Total impaired loans without an associated allowance $ 1,407 $ 886 $ 767 Total impaired loans $ 3,492 $ 2,660 $ 395 $ 2,744 (a) Associated allowance amounts include $.3 billion for TDRs at both September 30, 2016 and December 31, 2015. (b) Average recorded investment is for the nine months ended September 30, 2016 and the year ended December 31, 2015, respectively. |
Allowances for Loan and Lease25
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Allowance For Loan And Lease Losses [Abstract] | |
Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data | Table 55: Rollforward of Allowance for Loan and Lease Losses and Associated Loan Data Commercial Consumer In millions Lending Lending Total September 30, 2016 Allowance for Loan and Lease Losses January 1 $ 1,605 $ 1,122 $ 2,727 Charge-offs (297) (395) (692) Recoveries 133 122 255 Net (charge-offs) / recoveries (164) (273) (437) Provision for credit losses 156 210 366 Net change in allowance for unfunded loan commitments and letters of credit (48) (1) (49) Net recoveries of purchased impaired loans and other 1 11 12 September 30 $ 1,550 $ 1,069 $ 2,619 TDRs individually evaluated for impairment $ 76 $ 240 $ 316 Other loans individually evaluated for impairment 44 44 Loans collectively evaluated for impairment 1,388 548 1,936 Purchased impaired loans 42 281 323 September 30 $ 1,550 $ 1,069 $ 2,619 Loan Portfolio TDRs individually evaluated for impairment (a) $ 527 $ 1,832 $ 2,359 Other loans individually evaluated for impairment 344 344 Loans collectively evaluated for impairment (b) 137,170 66,619 203,789 Fair value option loans (c) 874 874 Purchased impaired loans 122 2,958 3,080 September 30 $ 138,163 $ 72,283 $ 210,446 Portfolio segment ALLL as a percentage of total ALLL 59 % 41 % 100 % Ratio of the allowance for loan and lease losses to total loans (d) 1.12 % 1.48 % 1.24 % 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 % (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 $.1 billion 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, 2016. Accordingly, there is no allowance recorded on these loans. The comparative amount as of September 30, 2015 was $.2 billion. (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. (d) See Note 1 Accounting Policies in our 2015 Form 10-K for information on our change in derecognition policy effective December 31, 2015 for certain purchased impaired loans. |
Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit | Table 56: Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit In millions 2016 2015 January 1 $ 261 $ 259 Net change in allowance for unfunded loan commitments and letters of credit 49 7 September 30 $ 310 $ 266 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investment Securities Disclosure [Abstract] | |
Investment Securities Summary | N OTE 5 I NVESTMENT S ECURITIES Table 57: Investment Securities Summary Amortized Unrealized Fair In millions Cost Gains Losses Value September 30, 2016 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 12,062 $ 301 $ (13) $ 12,350 Residential mortgage-backed Agency 27,429 568 (18) 27,979 Non-agency 3,372 226 (61) 3,537 Commercial mortgage-backed Agency 2,301 21 (4) 2,318 Non-agency 4,183 69 (19) 4,233 Asset-backed 6,123 66 (26) 6,163 State and municipal 1,963 107 (3) 2,067 Other debt 2,712 60 (3) 2,769 Total debt securities 60,145 1,418 (147) 61,416 Corporate stocks and other 525 525 Total securities available for sale $ 60,670 $ 1,418 $ (147) $ 61,941 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 265 $ 65 $ 330 Residential mortgage-backed Agency 11,637 254 $ (2) 11,889 Non-agency 204 13 217 Commercial mortgage-backed Agency 1,051 39 1,090 Non-agency 579 25 604 Asset-backed 799 (4) 795 State and municipal 1,920 159 2,079 Other debt 118 (9) 109 Total securities held to maturity $ 16,573 $ 555 $ (15) $ 17,113 December 31, 2015 Securities Available for Sale Debt securities U.S. Treasury and government agencies $ 9,764 $ 152 $ (42) $ 9,874 Residential mortgage-backed Agency 24,698 250 (128) 24,820 Non-agency 3,992 247 (88) 4,151 Commercial mortgage-backed Agency 1,917 11 (10) 1,918 Non-agency 4,902 30 (29) 4,903 Asset-backed 5,417 54 (48) 5,423 State and municipal 1,982 79 (5) 2,056 Other debt 2,007 31 (12) 2,026 Total debt securities 54,679 854 (362) 55,171 Corporate stocks and other 590 (1) 589 Total securities available for sale $ 55,269 $ 854 $ (363) $ 55,760 Securities Held to Maturity (a) Debt securities U.S. Treasury and government agencies $ 258 $ 40 $ 298 Residential mortgage-backed Agency 9,552 101 $ (65) 9,588 Non-agency 233 8 241 Commercial mortgage-backed Agency 1,128 40 1,168 Non-agency 722 6 (1) 727 Asset-backed 717 (10) 707 State and municipal 1,954 116 2,070 Other debt 204 (1) 203 Total securities held to maturity $ 14,768 $ 311 $ (77) $ 15,002 (a) Held to maturity securities transferred from available for sale are recorded 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 $78 million and $97 million at September 30, 2016 and December 31, 2015, 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 58: 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, 2016 Debt securities U.S. Treasury and government agencies $ (1) $ 1,197 $ (12) $ 2,805 $ (13) $ 4,002 Residential mortgage-backed Agency (5) 699 (13) 943 (18) 1,642 Non-agency (1) 146 (60) 1,222 (61) 1,368 Commercial mortgage-backed Agency (3) 400 (1) 114 (4) 514 Non-agency (4) 587 (15) 1,269 (19) 1,856 Asset-backed (2) 445 (24) 1,629 (26) 2,074 State and municipal (1) 207 (2) 123 (3) 330 Other debt (1) 195 (2) 125 (3) 320 Total debt securities (18) 3,876 (129) 8,230 (147) 12,106 Corporate stocks and other (a) 16 (a) 16 Total $ (18) $ 3,876 $ (129) $ 8,246 $ (147) $ 12,122 December 31, 2015 Debt securities U.S. Treasury and government agencies $ (40) $ 5,885 $ (2) $ 120 $ (42) $ 6,005 Residential mortgage-backed Agency (103) 11,799 (25) 1,094 (128) 12,893 Non-agency (3) 368 (85) 1,527 (88) 1,895 Commercial mortgage-backed Agency (7) 745 (3) 120 (10) 865 Non-agency (22) 2,310 (7) 807 (29) 3,117 Asset-backed (30) 3,477 (18) 494 (48) 3,971 State and municipal (3) 326 (2) 60 (5) 386 Other debt (8) 759 (4) 188 (12) 947 Total debt securities (216) 25,669 (146) 4,410 (362) 30,079 Corporate stocks and other (a) 46 (1) 15 (1) 61 Total $ (216) $ 25,715 $ (147) $ 4,425 $ (363) $ 30,140 (a) The unrealized loss on these securities was less than $.5 million. |
Gains (Losses) on Sales Of Securities Available for Sale | Table 59: Gains (Losses) on Sales of Securities Available for Sale Nine months ended September 30 Gross Gross Net Tax In millions Proceeds Gains Losses Gains Expense 2016 $ 2,546 $ 20 $ - $ 20 $ 7 2015 $ 3,445 $ 54 $ (13) $ 41 $ 14 |
Contractual Maturity of Debt Securities | Table 60: Contractual Maturity of Debt Securities September 30, 2016 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 $ 404 $ 5,251 $ 5,244 $ 1,163 $ 12,062 Residential mortgage-backed Agency 137 912 26,380 27,429 Non-agency 2 3,370 3,372 Commercial mortgage-backed Agency 78 44 828 1,351 2,301 Non-agency 17 8 4,158 4,183 Asset-backed 12 2,104 1,987 2,020 6,123 State and municipal 2 146 383 1,432 1,963 Other debt 213 2,151 238 110 2,712 Total debt securities available for sale $ 709 $ 9,852 $ 9,600 $ 39,984 $ 60,145 Fair value $ 714 $ 10,004 $ 9,739 $ 40,959 $ 61,416 Weighted-average yield, GAAP basis 2.74 % 2.17 % 2.08 % 2.87 % 2.62 % Securities Held to Maturity U.S. Treasury and government agencies $ 265 $ 265 Residential mortgage-backed Agency $ 10 $ 500 11,127 11,637 Non-agency 204 204 Commercial mortgage-backed Agency $ 164 827 5 55 1,051 Non-agency 579 579 Asset-backed 1 688 110 799 State and municipal 4 69 1,008 839 1,920 Other debt 7 33 28 50 118 Total debt securities held to maturity $ 175 $ 940 $ 2,229 $ 13,229 $ 16,573 Fair value $ 175 $ 979 $ 2,328 $ 13,631 $ 17,113 Weighted-average yield, GAAP basis 3.29 % 3.60 % 3.03 % 3.55 % 3.48 % |
Fair Value of Securities Pledged and Accepted as Collateral | Table 61: Fair Value of Securities Pledged and Accepted as Collateral September 30 December 31 In millions 2016 2015 Pledged to others $ 9,991 $ 9,674 Accepted from others: Permitted by contract or custom to sell or repledge $ 655 $ 1,100 Permitted amount repledged to others $ 499 $ 943 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value [Abstract] | |
Fair Value Measurements - Recurring Basis Summary | Table 62: Fair Value Measurements - Recurring Basis Summary September 30, 2016 December 31, 2015 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 $ 11,740 $ 610 $ 12,350 $ 9,267 $ 607 $ 9,874 Residential mortgage-backed Agency 27,979 27,979 24,820 24,820 Non-agency 124 $ 3,413 3,537 143 $ 4,008 4,151 Commercial mortgage-backed Agency 2,318 2,318 1,918 1,918 Non-agency 4,233 4,233 4,903 4,903 Asset-backed 5,738 425 6,163 4,941 482 5,423 State and municipal 2,053 14 2,067 2,041 15 2,056 Other debt 2,748 21 2,769 1,996 30 2,026 Total debt securities 11,740 45,803 3,873 61,416 9,267 41,369 4,535 55,171 Corporate stocks and other 462 63 525 527 62 589 Total securities available for sale 12,202 45,866 3,873 61,941 9,794 41,431 4,535 55,760 Financial derivatives (a) (b) Interest rate contracts 6,703 49 6,752 4,626 29 4,655 Other contracts 392 3 395 284 2 286 Total financial derivatives 7,095 52 7,147 4,910 31 4,941 Residential mortgage loans held for sale (c) 1,124 3 1,127 838 5 843 Trading securities Debt 826 1,774 2 2,602 987 727 3 1,717 Equity 10 10 9 9 Total trading securities 836 1,774 2 2,612 996 727 3 1,726 Residential mortgage servicing rights 820 820 1,063 1,063 Commercial mortgage servicing rights 473 473 526 526 Commercial mortgage loans held for sale (c) 860 860 641 641 Equity investments - direct investments 1,075 1,075 1,098 1,098 Equity investments - indirect investments (d) (e) 220 268 347 Customer resale agreements (f) 136 136 137 137 Loans (g) 550 324 874 565 340 905 Other assets BlackRock Series C Preferred Stock (h) 221 221 357 357 Other 263 187 6 456 254 199 7 460 Total other assets 263 187 227 677 254 199 364 817 Total assets $ 13,301 $ 56,732 $ 7,929 $ 78,010 $ 11,044 $ 48,807 $ 8,606 $ 68,804 Liabilities Financial derivatives (b) (i) Interest rate contracts $ 4,830 $ 9 $ 4,839 $ 1 $ 3,124 $ 7 $ 3,132 BlackRock LTIP 221 221 357 357 Other contracts 183 164 347 204 109 313 Total financial derivatives 5,013 394 5,407 1 3,328 473 3,802 Trading securities sold short (j) Debt $ 505 30 535 960 27 987 Total trading securities sold short 505 30 535 960 27 987 Other borrowed funds 68 10 78 81 12 93 Other liabilities 20 20 10 10 Total liabilities $ 505 $ 5,111 $ 424 $ 6,040 $ 961 $ 3,436 $ 495 $ 4,892 (a) Included in Other assets on the Consolidated Balance Sheet. (b) Amounts at September 30, 2016 and December 31, 2015, 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. See Note 9 Financial Derivatives for additional information related to derivative offsetting. (c) Included in Loans held for sale on the Consolidated Balance Sheet. PNC has elected the fair value option for certain residential and commercial mortgage loans held for sale. (d) In accordance with ASC 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet. (e) 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, 2016 related to indirect equity investments was $107 million and related to direct equity investments was $21 million, respectively. Comparable amounts at December 31, 2015 were $103 million and $23 million, respectively. (f) Included in Federal funds sold and resale agreements on the Consolidated Balance Sheet. PNC has elected the fair value option for these items. (g) Included in Loans on the Consolidated Balance Sheet. (h) PNC has elected the fair value option for these shares. (i) Included in Other liabilities on the Consolidated Balance Sheet. (j) Included in Other borrowed funds on the 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, 2016 and 2015 follow: Table 63: Reconciliation of Level 3 Assets and Liabilities Three Months Ended September 30, 2016 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 Jun. 30, Included in comprehensive into out of Sept. 30, at Sept. 30, In millions 2016 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 2016 (a) (b) Assets Securities available for sale Residential mortgage- backed non-agency $ 3,557 $ 25 $ 32 $ (201) $ 3,413 Asset-backed 436 4 8 (23) 425 State and municipal 15 (1) 14 Other debt 33 1 $ 1 $ (14) 21 Total securities available for sale 4,041 30 40 1 (14) (225) 3,873 Financial derivatives 51 37 (36) 52 $ 34 Residential mortgage loans held for sale 6 3 (1) $ 3 $ (8) 3 Trading securities - Debt 2 2 Residential mortgage servicing rights 774 23 49 $ 16 (42) 820 23 Commercial mortgage servicing rights 448 8 16 22 (21) 473 8 Commercial mortgage loans held for sale 981 18 (1,343) 1,205 (1) 860 6 Equity investments Direct investments 1,120 19 17 (81) 1,075 21 Indirect investments 233 16 (31) 2 220 9 Loans 317 3 27 (4) (15) (4) 324 1 Other assets BlackRock Series C Preferred Stock 209 12 221 12 Other 6 6 Total other assets 215 12 227 12 Total assets $ 8,188 $ 166 (c) $ 40 $ 113 $ (1,474) $ 1,243 $ (340) $ 5 $ (12) $ 7,929 $ 114 (d) Liabilities Financial derivatives (e) $ 385 $ 21 $ 1 $ (13) $ 394 $ 25 Other borrowed funds 8 $ 24 (22) 10 Other liabilities 13 42 (35) 20 Total liabilities $ 406 $ 21 (c) $ 1 $ 66 $ (70) $ 424 $ 25 (d) 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 Included in Other Transfers Transfers Fair Value Balance Sheet Only Jun. 30, in comprehensive into out of Sept. 30, at Sept. 30, In millions 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2015 2015 (a) (b) 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 (846) 874 (2) 802 7 Equity investments - direct investments 1,191 36 87 (99) 1,215 39 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 $ 9,294 $ (98) (c) $ (8) $ 254 $ (964) $ 911 $ (391) $ 12 $ (32) $ 8,978 $ (137) (d) Liabilities Financial derivatives (e) $ 498 $ (54) $ (1) $ 443 $ (57) Other borrowed funds 165 1 $ 23 (127) 62 Other liabilities 10 10 Total liabilities $ 673 $ (53) (c) $ 23 $ (128) $ 515 $ (57) (d) Nine Months Ended September 30, 2016 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 2015 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2016 at Sept. 30, 2016 (a) (b) Assets Securities available for sale Residential mortgage- backed non-agency $ 4,008 $ 58 $ 4 $ (60) $ (597) $ 3,413 $ (1) Asset-backed 482 10 (67) 425 State and municipal 15 (1) 14 Other debt 30 1 $ 10 (18) (2) 21 Total securities available for sale 4,535 69 4 10 (78) (667) 3,873 (1) Financial derivatives 31 106 1 (86) 52 101 Residential mortgage loans held for sale 5 9 (2) $ 8 $ (17) 3 Trading securities - Debt 3 (1) 2 Residential mortgage servicing rights 1,063 (316) 154 $ 39 (120) 820 (308) Commercial mortgage servicing rights 526 (56) 25 45 (67) 473 (56) Commercial mortgage loans held for sale 641 55 (2,797) 2,981 (20) 860 4 Equity investments Direct investments 1,098 85 135 (243) 1,075 84 Indirect investments 16 (31) 235 (f) 220 9 Loans 340 6 82 (18) (57) (29) 324 3 Other assets BlackRock Series C Preferred Stock 357 2 (138) 221 2 Other 7 2 (2) (1) 6 Total other assets 364 4 (2) (1) (138) 227 2 Total assets $ 8,606 $ (31) (c) $ 2 $ 416 $ (3,170) $ 3,065 $ (1,156) $ 243 $ (46) $ 7,929 $ (162) (d) Liabilities Financial derivatives (e) $ 473 $ 90 $ 4 $ (173) $ 394 $ 92 Other borrowed funds 12 $ 64 (66) 10 Other liabilities 10 1 114 (105) 20 Total liabilities $ 495 $ 91 (c) $ 4 $ 178 $ (344) $ 424 $ 92 (d) 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 Level 3 Instruments Fair Value Included in Other Transfers Transfers Fair Value on Consolidated Only Dec. 31, in comprehensive into out of Sept. 30, Balance Sheet at In millions 2014 Earnings income Purchases Sales Issuances Settlements Level 3 Level 3 2015 Sept. 30, 2015 (a) (b) 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 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 (3,081) 2,965 (38) 802 3 Equity investments - direct investments 1,152 92 225 (254) 1,215 79 Loans 397 19 84 (21) (96) 21 (54) 350 10 Other assets BlackRock Series C Preferred Stock 375 (63) 312 (63) Other 15 (7) (1) 7 Total other assets 390 (63) (7) (1) 319 (63) Total assets $ 9,788 $ 253 (c) $ (22) $ 646 $ (3,371) $ 3,074 $ (1,338) $ 25 $ (77) $ 8,978 $ 48 (d) Liabilities Financial derivatives (e) $ 526 $ (28) $ 1 $ (56) $ 443 $ (69) Other borrowed funds 181 4 $ 69 (192) 62 Other liabilities 9 1 10 Total liabilities $ 716 $ (23) (c) $ 1 $ 69 $ (248) $ 515 $ (69) (d) (a) Losses for assets are bracketed while losses for liabilities are not. (b) 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. (c) Net gains (realized and unrealized) included in earnings relating to Level 3 assets and liabilities were $145 million for the third quarter of 2016, while for the first nine months of 2016 there were $122 million of net losses (realized and unrealized) included in earnings. The comparative amounts included net losses (realized and unrealized) of $45 million for the third quarter of 2015 and net gains (realized and unrealized) of $276 million for the first nine months of 2015. These amounts also included amortization and accretion. 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. (d) Net unrealized gains relating to those assets and liabilities held at the end of the reporting period were $89 million for the third quarter of 2016, while for the first nine months of 2016 there were $254 million of net unrealized losses. The comparative amounts included net unrealized losses of $80 million for the third quarter of 2015 and net unrealized gains of $117 million for the first nine months of 2015. These amounts were included in Noninterest income on the Consolidated Income Statement. (e) Includes swaps entered into in connection with sales of certain Visa Class B common shares. (f) Reflects transfers into Level 3 associated with a change in valuation methodology. |
Fair Value Measurements - Recurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities follows. Table 64: Fair Value Measurements - Recurring Quantitative Information September 30, 2016 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 3,413 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-24.2% (7.2%) (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) 260bps weighted average (a) Asset-backed securities 425 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-15.0% (6.3%) (a) using a discounted cash flow Constant default rate (CDR) 2.0%-13.9% (6.6%) (a) pricing model (a) Loss severity 24.2%-100% (78.0%) (a) Spread over the benchmark curve (b) 333bps weighted average (a) Residential mortgage servicing rights 820 Discounted cash flow Constant prepayment rate (CPR) 0.0%-41.3% (18.3%) Spread over the benchmark curve (b) 195bps-1,871bps (847bps) Commercial mortgage servicing 473 Discounted cash flow Constant prepayment rate (CPR) 6.1%-45.6% (7.8%) rights Discount rate 5.1%-7.7% (7.5%) Commercial mortgage loans held 860 Discounted cash flow Spread over the benchmark curve (b) 66bps-1,220bps (527bps) for sale Estimated servicing cash flows 0.0%-4.7% (1.4%) Equity investments - Direct investments 1,075 Multiple of adjusted earnings Multiple of earnings 4.1x-12.0x (7.6x) Equity investments - Indirect investments 220 Consensus pricing (c) Liquidity discount 0.0%-40.0% Loans - Residential real estate 127 Consensus pricing (c) Cumulative default rate 11.0%-100% (88.0%) Loss severity 0.0%-100% (24.4%) Discount rate 4.7%-6.7% (5.1%) 114 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.9% weighted average Loans - Home equity 83 Consensus pricing (c) Credit and Liquidity discount 0.0%-99.0% (57.0%) BlackRock Series C Preferred Stock 221 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (221) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain Visa (156) Discounted cash flow Estimated conversion factor of Class B common shares Class B shares into Class A shares 164.4% weighted average Estimated growth rate of Visa Class A share price 14.0% Insignificant Level 3 assets, net of liabilities (d) 51 Total Level 3 assets, net of liabilities (e) $ 7,505 December 31, 2015 Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) Residential mortgage-backed non-agency securities $ 4,008 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% (53.3%) (a) Spread over the benchmark curve (b) 241bps weighted average (a) Asset-backed securities 482 Priced by a third-party vendor Constant prepayment rate (CPR) 1.0%-14.0% (6.3%) (a) using a discounted cash flow Constant default rate (CDR) 1.7%-13.9% (6.8%) (a) pricing model (a) Loss severity 24.2%-100.0% (77.5%) (a) Spread over the benchmark curve (b) 324bps weighted average (a) Residential mortgage servicing rights 1,063 Discounted cash flow Constant prepayment rate (CPR) 0.3%-46.5% (10.6%) Spread over the benchmark curve (b) 559bps-1,883bps (893bps) Commercial mortgage servicing rights 526 Discounted cash flow Constant prepayment rate (CPR) 3.9%-26.5% (5.7%) Discount rate 2.6%-7.7% (7.5%) Commercial mortgage loans held for sale 641 Discounted cash flow Spread over the benchmark curve (b) 85bps-4,270bps (547bps) Estimated servicing cash flows 0.0%-7.0% (0.9%) Equity investments - Direct investments 1,098 Multiple of adjusted earnings Multiple of earnings 4.2x-14.1x (7.6x) Loans - Residential real estate 123 Consensus pricing (c) Cumulative default rate 2.0%-100.0% (85.1%) Loss severity 0.0%-100.0% (27.3%) Discount rate 4.9%-7.0% (5.2%) 116 Discounted cash flow Loss severity 8.0% weighted average Discount rate 3.9% weighted average Loans - Home equity 101 Consensus pricing (c) Credit and Liquidity discount 26.0%-99.0% (54.0%) BlackRock Series C Preferred Stock 357 Consensus pricing (c) Liquidity discount 20.0% BlackRock LTIP (357) Consensus pricing (c) Liquidity discount 20.0% Swaps related to sales of certain (104) Discounted cash flow Estimated conversion factor of Visa Class B common shares Class B shares into Class A shares 164.3% weighted average Estimated growth rate of Visa Class A share price 16.3% Insignificant Level 3 assets, net of liabilities (d) 57 Total Level 3 assets, net of liabilities (e) $ 8,111 (a) Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2016 totaling $2.9 billion and $.4 billion, 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, 2015 were $3.4 billion and $.4 billion, 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 Assets and Liabilities Measured at Fair Value on a Recurring Basis section of Note 7 Fair Value in our 2015 Form 10-K. Certain Level 3 residential mortgage-backed non-agency and asset-backed securities with fair values as of September 30, 2016 of $518 million and $28 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, 2015 were $629 million and $34 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) 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, state and municipal securities, other debt securities, residential mortgage loans held for sale, other assets, other borrowed funds (ROAPs) and other liabilities. For additional information, please see the Assets and Liabilities Measured at Fair Value on a Recurring Basis discussion included in Note 7 Fair Value in our 2015 Form 10-K. (e) Consisted of total Level 3 assets of $7.9 billion and total Level 3 liabilities of $.4 billion as of September 30, 2016 and $8.6 billion and $.5 billion as of December 31, 2015, respectively. |
Fair Value Measurements - Nonrecurring | Table 65: 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 2016 2015 2016 2015 2016 2015 Assets Nonaccrual loans $ 180 $ 30 $ (32) $ (41) $ (81) $ (48) OREO and foreclosed assets 108 137 (6) (6) (15) (18) Insignificant assets (b) 19 28 (2) (5) (16) Total assets $ 307 $ 195 $ (38) $ (49) $ (101) $ (82) (a) All Level 3 as of September 30, 2016 and December 31, 2015. (b) Represents the aggregate amount of assets measured at fair value on a nonrecurring basis that are individually and in the aggregate insignificant. The amount includes certain equity investments and long-lived assets held for sale. |
Fair Value Measurements - Nonrecurring Quantitative Information | Quantitative information about the significant unobservable inputs within Level 3 nonrecurring assets follows. Table 66: Fair Value Measurements - Nonrecurring Quantitative Information Level 3 Instruments Only Dollars in millions Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) September 30, 2016 Assets Nonaccrual loans $ 126 LGD percentage (a) Loss severity 5.4%-77.8% (35.3%) 54 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 108 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 19 Total assets $ 307 December 31, 2015 Assets Nonaccrual loans $ 20 LGD percentage (a) Loss severity 8.1%-73.3% (58.6%) 10 Fair value of property or collateral Appraised value/sales price Not meaningful OREO and foreclosed assets 137 Fair value of property or collateral Appraised value/sales price Not meaningful Insignificant assets 28 Total assets $ 195 (a) LGD percentage represents the amount that PNC expects to lose in the event a borrower defaults on an obligation. |
Fair Value Option - Changes in Fair Value | Table 67: 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 2016 2015 2016 2015 Assets Customer resale agreements $ (1) $ (1) $ (1) $ (1) Commercial mortgage loans held for sale $ 16 $ 25 $ 65 $ 81 Residential mortgage loans held for sale $ 55 $ 56 $ 161 $ 127 Residential mortgage loans – portfolio $ 7 $ 8 $ 24 $ 37 BlackRock Series C Preferred Stock $ 12 $ (51) $ 2 $ (63) Other assets $ 15 $ (5) $ 2 Liabilities Other borrowed funds $ (2) $ (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 68: Fair Value Option - Fair Value and Principal Balances Aggregate Unpaid In millions Fair Value Principal Balance Difference September 30, 2016 Assets Customer resale agreements $ 136 $ 133 $ 3 Residential mortgage loans held for sale Performing loans 1,122 1,071 51 Accruing loans 90 days or more past due 1 1 Nonaccrual loans 4 5 (1) Total 1,127 1,077 50 Commercial mortgage loans held for sale (a) Performing loans 855 865 (10) Nonaccrual loans 5 9 (4) Total 860 874 (14) Residential mortgage loans - portfolio Performing loans 231 276 (45) Accruing loans 90 days or more past due 420 420 Nonaccrual loans 223 354 (131) Total 874 1,050 (176) Other assets 163 164 (1) Liabilities Other borrowed funds $ 78 $ 80 $ (2) December 31, 2015 Assets Customer resale agreements $ 137 $ 133 $ 4 Residential mortgage loans held for sale Performing loans 832 804 28 Accruing loans 90 days or more past due 4 4 Nonaccrual loans 7 8 (1) Total 843 816 27 Commercial mortgage loans held for sale (a) Performing loans 639 659 (20) Nonaccrual loans 2 3 (1) Total 641 662 (21) Residential mortgage loans - portfolio Performing loans 204 260 (56) Accruing loans 90 days or more past due 475 478 (3) Nonaccrual loans 226 361 (135) Total 905 1,099 (194) Other assets 164 159 5 Liabilities Other borrowed funds $ 93 $ 95 $ (2) (a) There were no accruing loans 90 days or more past due within this category at September 30, 2016 or December 31, 2015. |
Additional Fair Value Information Related to Other Financial Instruments | Table 69: Additional Fair Value Information Related to Other Financial Instruments Carrying Fair Value In millions Amount Total Level 1 Level 2 Level 3 September 30, 2016 Assets Cash and due from banks $ 4,531 $ 4,531 $ 4,531 Short-term assets 29,125 29,125 $ 29,125 Securities held to maturity 16,573 17,113 330 16,669 $ 114 Loans held for sale 66 65 47 18 Net loans (excludes leases) 199,570 202,758 202,758 Other assets 1,748 2,225 1,731 494 Total assets $ 251,613 $ 255,817 $ 4,861 $ 47,572 $ 203,384 Liabilities Demand, savings and money market deposits $ 241,146 $ 241,146 $ 241,146 Time deposits 18,749 18,806 18,806 Borrowed funds 51,222 52,073 50,616 $ 1,457 Unfunded loan commitments and letters of credit 289 289 289 Other liabilities 67 67 67 Total liabilities $ 311,473 $ 312,381 $ 310,635 $ 1,746 December 31, 2015 Assets Cash and due from banks $ 4,065 $ 4,065 $ 4,065 Short-term assets 32,959 32,959 $ 32,959 Securities held to maturity 14,768 15,002 298 14,698 $ 6 Loans held for sale 56 56 22 34 Net loans (excludes leases) 195,579 197,611 197,611 Other assets 1,817 2,408 1,786 622 Total assets $ 249,244 $ 252,101 $ 4,363 $ 49,465 $ 198,273 Liabilities Demand, savings and money market deposits $ 228,492 $ 228,492 $ 228,492 Time deposits 20,510 20,471 20,471 Borrowed funds 53,761 54,002 52,578 $ 1,424 Unfunded loan commitments and letters of credit 245 245 245 Total liabilities $ 303,008 $ 303,210 $ 301,541 $ 1,669 |
Goodwill and Other Intangible28
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Other Intangible Assets Disclosure [Abstract] | |
Mortgage Servicing Rights | Changes in the commercial and residential MSRs follow: Table 70: Mortgage Servicing Rights Commercial MSRs Residential MSRs In millions 2016 2015 2016 2015 January 1 $ 526 $ 506 $ 1,063 $ 845 Additions: From loans sold with servicing retained 45 48 39 61 Purchases 25 43 154 261 Changes in fair value due to: Time and payoffs (a) (67) (66) (120) (136) Other (b) (56) (26) (316) (69) September 30 $ 473 $ 505 $ 820 $ 962 Related unpaid principal balance at September 30 $ 139,976 $ 143,915 $ 126,189 $ 121,680 Servicing advances at September 30 $ 251 $ 277 $ 322 $ 431 (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 | The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions: Table 71: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2016 2015 Fair value $ 473 $ 526 Weighted-average life (years) 4.4 4.7 Weighted-average constant prepayment rate 7.75 % 5.71 % Decline in fair value from 10% adverse change $ 10 $ 10 Decline in fair value from 20% adverse change $ 20 $ 19 Effective discount rate 7.53 % 7.49 % Decline in fair value from 10% adverse change $ 12 $ 14 Decline in fair value from 20% adverse change $ 24 $ 29 |
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 72: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions September 30 December 31 Dollars in millions 2016 2015 Fair value $ 820 $ 1,063 Weighted-average life (years) 4.2 6.3 Weighted-average constant prepayment rate 18.28 % 10.61 % Decline in fair value from 10% adverse change $ 50 $ 44 Decline in fair value from 20% adverse change $ 94 $ 85 Weighted-average option adjusted spread 847 bps 893 bps Decline in fair value from 10% adverse change $ 23 $ 34 Decline in fair value from 20% adverse change $ 44 $ 67 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Share-based Compensation [Abstract] | |
Net Periodic Pension and Postretirement Benefits Costs | Table 73: Net Periodic Pension and Postretirement Benefit Costs Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Three months ended September 30 In millions 2016 2015 2016 2015 2016 2015 Net periodic cost consists of: Service cost $ 26 $ 27 $ 1 $ 1 $ 1 $ 1 Interest cost 46 44 3 3 4 4 Expected return on plan assets (70) (75) (1) Amortization of prior service credit (2) (2) (1) Amortization of actuarial losses 12 8 1 2 Net periodic cost/(benefit) $ 12 $ 2 $ 5 $ 6 $ 4 $ 4 Qualified Pension Plan Nonqualified Retirement Plans Postretirement Benefits Nine months ended September 30 In millions 2016 2015 2016 2015 2016 2015 Net periodic cost consists of: Service cost $ 77 $ 80 $ 2 $ 2 $ 4 $ 4 Interest cost 139 133 9 9 11 11 Expected return on plan assets (211) (223) (3) Amortization of prior service credit (5) (6) (1) (1) Amortization of actuarial losses 34 23 3 5 Net periodic cost/(benefit) $ 34 $ 7 $ 14 $ 16 $ 11 $ 14 |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Total Gross Derivatives | Table 74: Total Gross Derivatives September 30, 2016 December 31, 2015 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 $ 52,466 $ 1,645 $ 309 $ 52,074 $ 1,159 $ 174 Derivatives not designated as hedging instruments under GAAP 296,321 5,502 5,098 295,902 3,782 3,628 Total gross derivatives $ 348,787 $ 7,147 $ 5,407 $ 347,976 $ 4,941 $ 3,802 (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 | Further detail regarding the notional amounts and fair values related to derivatives designated in hedge relationships is presented in the following table: Table 75: Derivatives Designated As Hedging Instruments under GAAP September 30, 2016 December 31, 2015 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 $ 25,972 $ 989 $ 1 $ 25,756 $ 699 $ 18 Pay-fixed swaps (c) 7,715 1 307 5,934 13 153 Subtotal 33,687 990 308 31,690 712 171 Cash flow hedges: Receive-fixed swaps 17,579 487 1 17,879 412 2 Forward purchase commitments 200 1 1,400 4 1 Subtotal 17,779 488 1 19,279 416 3 Foreign exchange contracts: Net investment hedges 1,000 167 1,105 31 Total derivatives designated as hedging instruments $ 52,466 $ 1,645 $ 309 $ 52,074 $ 1,159 $ 174 (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 76: Gains (Losses) on Derivatives and Related Hedged Items - Fair Value Hedges (a) Three months ended Nine months ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 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 millions Hedged Items Location in Income in Income in Income in Income in Income in Income in Income in Income Interest rate contracts U.S. Treasury and Government Agencies and Other Debt Securities Investment securities (interest income) $ 51 $ (53) $ (92) $ 94 $ (158) $ 161 $ (80) $ 82 Interest rate contracts Subordinated Debt and Bank Notes and Senior Debt Borrowed funds (interest expense) (232) 231 305 (323) 330 (369) 198 (236) Total (a) $ (181) $ 178 $ 213 $ (229) $ 172 $ (208) $ 118 $ (154) (a) The difference between the gains (losses) recognized in income on derivatives and their related hedged items represents the ineffective portion of the change in value of our fair value hedge derivatives. |
Gains (Losses) on Derivatives and Related Cash Flows - Cash Flow Hedges | Further detail regarding gains (losses) on derivatives and related cash flows is presented in the following table: Table 77: 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 2016 2015 2016 2015 Gains (losses) on derivatives recognized in OCI - (effective portion) $ (63) $ 326 $ 328 $ 522 Less: Gains (losses) reclassified from accumulated OCI into income - (effective portion) Interest income 61 80 190 220 Noninterest income 1 12 (1) Total gains (losses) reclassified from accumulated OCI into income - (effective portion) $ 62 $ 92 $ 190 $ 219 Net unrealized gains (losses) on cash flow hedge derivatives $ (125) $ 234 $ 138 $ 303 (a) All cash flow hedge derivatives are interest rate contracts as of September 30, 2016 and September 30, 2015. (b) The amount of cash flow hedge ineffectiveness recognized in income was not significant for the periods presented. |
Derivatives Not Designated as Hedging Instruments under GAAP | Further detail regarding the notional amounts and fair values related to derivatives not designated in hedge relationships is presented in the following table: Table 78: Derivatives Not Designated As Hedging Instruments under GAAP September 30, 2016 December 31, 2015 In millions Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Notional / Contract Amount Asset Fair Value (a) Liability Fair Value (b) Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts: Swaps $ 37,604 $ 1,369 $ 893 $ 37,505 $ 758 $ 416 Swaptions 1,231 13 7 650 27 14 Futures (c) 18,428 17,653 Futures options 6,000 1 Mortgage-backed securities commitments 6,026 14 1 3,920 4 8 Subtotal 63,289 1,396 901 65,728 789 439 Loan sales Interest rate contracts: Futures (c) 15 20 Bond options 200 200 2 Mortgage-backed securities commitments 6,546 8 19 6,363 16 8 Residential mortgage loan commitments 2,231 32 1,580 16 Subtotal 8,992 40 19 8,163 34 8 Subtotal $ 72,281 $ 1,436 $ 920 $ 73,891 $ 823 $ 447 Derivatives used for commercial mortgage banking activities: Interest rate contracts: Swaps $ 4,925 $ 136 $ 64 $ 3,945 $ 77 $ 46 Swaptions 439 Futures (c) 3,322 18,454 Commercial mortgage loan commitments 1,407 15 7 1,176 11 6 Subtotal 9,654 151 71 24,014 88 52 Credit contracts 35 77 Subtotal $ 9,689 $ 151 $ 71 $ 24,091 $ 88 $ 52 Derivatives used for customer-related activities: Interest rate contracts: Swaps $ 168,512 $ 3,516 $ 3,520 $ 157,041 $ 2,507 $ 2,433 Caps/floors - Sold 5,140 10 5,337 11 Caps/floors - Purchased 6,462 19 6,383 18 Swaptions 4,773 150 6 4,363 86 13 Futures (c) 3,077 1,673 Mortgage-backed securities commitments 2,012 2 3 1,910 5 2 Subtotal 189,976 3,687 3,539 176,707 2,616 2,459 Foreign exchange contracts 12,064 185 159 10,888 194 198 Credit contracts 6,397 3 7 5,026 2 4 Subtotal $ 208,437 $ 3,875 $ 3,705 $ 192,621 $ 2,812 $ 2,661 Derivatives used for other risk management activities: Foreign exchange contracts $ 3,061 $ 40 $ 25 $ 2,742 $ 59 $ 6 Other contracts (d) 2,853 377 2,557 462 Subtotal $ 5,914 $ 40 $ 402 $ 5,299 $ 59 $ 468 Total derivatives not designated as hedging instruments $ 296,321 $ 5,502 $ 5,098 $ 295,902 $ 3,782 $ 3,628 (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 | Further detail regarding the gains (losses) on derivatives not designated in hedging relationships is presented in the following table: Table 79: Gains (Losses) on Derivatives Not Designated As Hedging Instruments under GAAP Three months ended Nine months ended September 30 September 30 In millions 2016 2015 2016 2015 Derivatives used for residential mortgage banking activities: Residential mortgage servicing Interest rate contracts $ 7 $ 144 $ 343 $ 159 Loan sales Interest rate contracts 16 (6) 13 62 Gains (losses) included in residential mortgage banking activities (a) $ 23 $ 138 $ 356 $ 221 Derivatives used for commercial mortgage banking activities: Interest rate contracts (b) (c) $ (5) $ 42 $ 75 $ 47 Gains (losses) from commercial mortgage banking activities $ (5) $ 42 $ 75 $ 47 Derivatives used for customer-related activities: Interest rate contracts $ 23 $ 10 $ 20 $ 44 Foreign exchange contracts 26 23 72 56 Gains (losses) from customer-related activities (c) $ 49 $ 33 $ 92 $ 100 Derivatives used for other risk management activities: Interest rate contracts $ 1 Foreign exchange contracts $ 26 $ 94 $ (3) 208 Other contracts (d) (22) 47 (88) 54 Gains (losses) from other risk management activities (c) $ 4 $ 141 $ (91) $ 263 Total gains (losses) from derivatives not designated as hedging instruments $ 71 $ 354 $ 432 $ 631 (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 80: Derivative Assets and Liabilities Offsetting Gross Fair Value Amounts Offset on the Consolidated Balance Sheet Net Fair Value Securities Collateral Held / (Pledged) Net Amounts September 30, 2016 Fair Value Offset Amount Cash Collateral Under Master Netting Agreements In millions Derivative assets Interest rate contracts: Cleared $ 2,002 $ 1,793 $ 184 $ 25 $ 25 Over-the-counter 4,750 1,844 557 2,349 $ 314 2,035 Foreign exchange contracts 392 213 40 139 139 Credit contracts 3 1 1 1 1 Total derivative assets $ 7,147 $ 3,851 $ 782 $ 2,514 (a) $ 314 $ 2,200 Derivative liabilities Interest rate contracts: Cleared $ 2,192 $ 1,794 $ 376 $ 22 $ 22 Over-the-counter 2,647 1,947 643 57 57 Foreign exchange contracts 184 105 24 55 55 Credit contracts 7 5 2 Other contracts 377 377 377 Total derivative liabilities $ 5,407 $ 3,851 $ 1,045 $ 511 (b) $ 511 December 31, 2015 In millions Derivative assets Interest rate contracts: Cleared $ 1,003 $ 779 $ 195 $ 29 $ 29 Over-the-counter 3,652 1,645 342 1,665 $ 178 1,487 Foreign exchange contracts 284 129 13 142 2 140 Credit contracts 2 1 1 Total derivative assets $ 4,941 $ 2,554 $ 551 $ 1,836 (a) $ 180 $ 1,656 Derivative liabilities Interest rate contracts: Cleared $ 855 $ 779 $ 57 $ 19 $ 19 Exchange-traded 1 1 1 Over-the-counter 2,276 1,687 530 59 59 Foreign exchange contracts 204 85 20 99 99 Credit contracts 4 3 1 Other contracts 462 462 462 Total derivative liabilities $ 3,802 $ 2,554 $ 608 $ 640 (b) $ 640 (a) Represents the net amount of derivative assets included in Other assets on our Consolidated Balance Sheet. (b) 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, 2016 | |
Earnings per Share | |
Basic and Diluted Earnings per Common Share | N OTE 10 E ARNINGS P ER S HARE Table 81: Basic and Diluted Earnings per Common Share Three months ended Nine months ended September 30 September 30 In millions, except per share data 2016 2015 2016 2015 Basic Net income $ 1,006 $ 1,073 $ 2,938 $ 3,121 Less: Net income (loss) attributable to noncontrolling interests 18 18 60 23 Preferred stock dividends and discount accretion and redemptions 64 64 172 182 Net income attributable to common shares 924 991 2,706 2,916 Less: Dividends and undistributed earnings allocated to participating securities 7 19 2 Net income attributable to basic common shares $ 917 $ 991 $ 2,687 $ 2,914 Basic weighted-average common shares outstanding 490 512 496 516 Basic earnings per common share (a) $ 1.87 $ 1.93 $ 5.41 $ 5.64 Diluted Net income attributable to basic common shares $ 917 $ 991 $ 2,687 $ 2,914 Less: Impact of BlackRock earnings per share dilution 4 4 10 14 Net income attributable to diluted common shares $ 913 $ 987 $ 2,677 $ 2,900 Basic weighted-average common shares outstanding 490 512 496 516 Dilutive potential common shares 6 8 6 9 Diluted weighted-average common shares outstanding 496 520 502 525 Diluted earnings per common share (a) $ 1.84 $ 1.90 $ 5.33 $ 5.52 (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 and restricted share units with nonforfeitable dividends and dividend rights (participating securities). |
Total Equity and Other Compre32
Total Equity and Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Other Comprehensive Income [Abstract] | |
Rollforward of Total Equity | Table 82: Rollforward of Total Equity Shareholders' Equity In millions Shares Outstanding Common Stock Common Stock Capital Surplus - Preferred Stock Capital Surplus - Common Stock and Other Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Non-controlling Interests Total Equity 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 (500) (500) Other 70 (216) (146) Balance at September 30, 2015 (a) 510 $ 2,708 $ 3,450 $ 12,675 $ 28,337 $ 615 $ (2,837) $ 1,330 $ 46,278 Balance at January 1, 2016 504 $ 2,708 $ 3,452 $ 12,745 $ 29,043 $ 130 $ (3,368) $ 1,270 $ 45,980 Net income 2,878 60 2,938 Other comprehensive income (loss), net of tax 516 516 Cash dividends declared Common ($1.57 per share) (791) (791) Preferred (168) (168) Preferred stock discount accretion 4 (4) Common stock activity (b) 1 10 11 Treasury stock activity (16) (23) (1,397) (1,420) Other (29) (192) (221) Balance at September 30, 2016 (a) 488 $ 2,709 $ 3,456 $ 12,703 $ 30,958 $ 646 $ (4,765) $ 1,138 $ 46,845 (a) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation. (b) Common stock activity totaled less than .5 million shares issued. |
Other Comprehensive Income | Details of other comprehensive income (loss) are as follows: Table 83: Other Comprehensive Income Three Months Ended September 30 Nine Months Ended September 30 In millions 2016 2015 2016 2015 Net unrealized gains (losses) on non-OTTI securities Increase in net unrealized gains (losses) on non-OTTI securities $ (14) $ 139 $ 791 $ (75) Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 5 6 19 20 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 6 (21) 20 42 Net increase (decrease), pre-tax (25) 154 752 (137) Effect of income taxes 10 (57) (275) 50 Net increase (decrease), after-tax (15) 97 477 (87) Net unrealized gains (losses) on OTTI securities Increase in net unrealized gains (losses) on OTTI securities 38 3 16 8 Less: OTTI losses realized on securities reclassified to noninterest income (1) (1) (3) Net increase (decrease), pre-tax 38 4 17 11 Effect of income taxes (14) (1) (6) (4) Net increase (decrease), after-tax 24 3 11 7 Net unrealized gains (losses) on cash flow hedge derivatives Increase in net unrealized gains (losses) on cash flow hedge derivatives (63) 326 328 522 Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income 51 74 167 202 Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income 10 6 23 18 Less: Net gains (losses) realized on sales of securities reclassified to noninterest income 1 12 (1) Net increase (decrease), pre-tax (125) 234 138 303 Effect of income taxes 45 (86) (51) (111) Net increase (decrease), after-tax (80) 148 87 192 Pension and other postretirement benefit plan adjustments Net pension and other postretirement benefit activity (5) 36 Amortization of actuarial loss (gain) reclassified to other noninterest expense 13 10 37 28 Amortization of prior service cost (credit) reclassified to other noninterest expense (2) (3) (6) (7) Net increase (decrease), pre-tax 11 7 26 57 Effect of income taxes (5) (2) (10) (20) Net increase (decrease), after-tax 6 5 16 37 Other PNC's portion of BlackRock's OCI (28) (40) (34) Net investment hedge derivatives 27 43 136 32 Foreign currency translation adjustments and other (a) (24) (44) (136) (35) Net increase (decrease), pre-tax (25) (1) (40) (37) Effect of income taxes (a) (16) (35) Net increase (decrease), after-tax (25) (17) (75) (37) Total other comprehensive income, pre-tax (126) 398 893 197 Total other comprehensive income, tax effect 36 (162) (377) (85) Total other comprehensive income, after-tax $ (90) $ 236 $ 516 $ 112 (a) 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 84: Accumulated Other Comprehensive Income (Loss) Components In millions, after-tax Net unrealized gains (losses) on non-OTTI securities Net unrealized gains (losses) on OTTI securities Net unrealized gains (losses) on cash flow hedge derivatives Pension and other postretirement benefit plan adjustments Other Total Balance at June 30, 2015 $ 463 $ 78 $ 394 $ (488) $ (68) $ 379 Net activity 97 3 148 5 (17) 236 Balance at September 30, 2015 $ 560 $ 81 $ 542 $ (483) $ (85) $ 615 Balance at June 30, 2016 $ 778 $ 53 $ 597 $ (544) $ (148) $ 736 Net activity (15) 24 (80) 6 (25) (90) Balance at September 30, 2016 $ 763 $ 77 $ 517 $ (538) $ (173) $ 646 Balance at December 31, 2014 $ 647 $ 74 $ 350 $ (520) $ (48) $ 503 Net activity (87) 7 192 37 (37) 112 Balance at September 30, 2015 $ 560 $ 81 $ 542 $ (483) $ (85) $ 615 Balance at December 31, 2015 $ 286 $ 66 $ 430 $ (554) $ (98) $ 130 Net activity 477 11 87 16 (75) 516 Balance at September 30, 2016 $ 763 $ 77 $ 517 $ (538) $ (173) $ 646 |
Commitments And Guarantees (Tab
Commitments And Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Guarantees [Abstract] | |
Commitments to Extend Credit and Other Commitments | Table 85: Commitments to Extend Credit and Other Commitments September 30 December 31 In millions 2016 2015 Commitments to extend credit Total commercial lending $ 104,124 $ 101,252 Home equity lines of credit 17,316 17,268 Credit card 21,907 19,937 Other 4,493 4,032 Total commitments to extend credit 147,840 142,489 Net outstanding standby letters of credit (a) 8,760 8,765 Reinsurance agreements (b) 1,880 2,010 Standby bond purchase agreements (c) 868 911 Other commitments (d) 980 966 Total commitments to extend credit and other commitments $ 160,328 $ 155,141 (a) Net outstanding standby letters of credit include $4.4 billion and $4.7 billion which support remarketing programs at September 30, 2016 and December 31, 2015, respectively. (b) Represents aggregate maximum exposure up to the specified limits of the reinsurance contracts, and reflects estimates based on availability of financial information from insurance carriers. As of September 30, 2016, the aggregate maximum exposure amount comprised $1.6 billion for accidental death & dismemberment contracts and $.3 billion for credit life, accident & health contracts. Comparable amounts at December 31, 2015 were $1.6 billion and $.4 billion, respectively. (c) We enter into standby bond purchase agreements to support municipal bond obligations. (d) Includes $.4 billion and $.5 billion related to investments in qualified affordable housing projects at September 30, 2016 and December 31, 2015, respectively. |
Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit | Table 86: Internal Credit Ratings Related to Net Outstanding Standby Letters of Credit September 30 December 31 2016 2015 Internal credit ratings (as a percentage of portfolio): Pass (a) 92 % 93 % Below pass (b) 8 % 7 % (a) Indicates that expected risk of loss is currently low. (b) Indicates a higher degree of risk of default. |
Resale and Repurchase Agreements Offsetting | Table 87: Resale and Repurchase Agreements Offsetting In millions Gross Resale / Repurchase Agreements Amounts Offset on the Consolidated Balance Sheet Net Resale / Repurchase Agreements (a) Securities Collateral Held / Pledged Under Master Netting Agreements (b) Net Amounts Resale Agreements September 30, 2016 $ 637 $ 637 $ 563 $ 74 (c) December 31, 2015 $ 1,082 $ 1,082 $ 1,008 $ 74 (c) Repurchase Agreements (d) September 30, 2016 $ 1,231 $ 1,231 $ 532 $ 699 (e) December 31, 2015 $ 1,767 $ 1,767 $ 1,014 $ 753 (e) (a) Resale agreements are included on the Consolidated Balance Sheet in Federal funds sold and resale agreements. Repurchase agreements are included on the Consolidated Balance Sheet in Federal funds purchased and repurchase agreements. (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) Repurchase agreements have remaining contractual maturities that are classified as overnight or continuous. As of September 30, 2016 and December 31, 2015, the collateral pledged under these agreements consisted primarily of residential mortgage-backed agency securities. (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, 2016 and December 31, 2015. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Results of Businesses | Table 88: 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 (a) 2016 Income Statement Net interest income $ 1,120 $ 840 $ 74 $ 28 $ 72 $ (39) $ 2,095 Noninterest income 527 517 220 163 $ 189 8 110 1,734 Total revenue 1,647 1,357 294 191 189 80 71 3,829 Provision for credit losses (benefit) 104 12 (3) (22) (4) 87 Depreciation and amortization 40 35 11 3 120 209 Other noninterest expense 1,151 520 195 167 16 136 2,185 Income (loss) before income taxes and noncontrolling interests 352 790 91 21 189 86 (181) 1,348 Income taxes (benefit) 129 253 33 8 41 32 (154) 342 Net income (loss) $ 223 $ 537 $ 58 $ 13 $ 148 $ 54 $ (27) $ 1,006 Average Assets (b) $ 71,219 $ 139,806 $ 7,588 $ 6,160 $ 7,026 $ 5,302 $ 126,769 $ 363,870 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 Average Assets (b) $ 72,916 $ 131,613 $ 7,902 $ 6,513 $ 6,813 $ 6,460 $ 126,370 $ 358,587 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 (a) 2016 Income Statement Net interest income $ 3,350 $ 2,500 $ 227 $ 81 $ 220 $ (117) $ 6,261 Noninterest income 1,628 1,484 636 450 $ 500 35 294 5,027 Total revenue 4,978 3,984 863 531 500 255 177 11,288 Provision for credit losses (benefit) 210 188 (16) (16) 366 Depreciation and amortization 121 107 34 8 356 626 Other noninterest expense 3,388 1,518 584 450 57 412 6,409 Income (loss) before income taxes and noncontrolling interests 1,259 2,171 245 73 500 214 (575) 3,887 Income taxes (benefit) 461 713 90 27 110 79 (531) 949 Net income (loss) $ 798 $ 1,458 $ 155 $ 46 $ 390 $ 135 $ (44) $ 2,938 Average Assets (b) $ 71,658 $ 137,884 $ 7,743 $ 6,078 $ 7,026 $ 5,580 $ 123,638 $ 359,607 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 Average Assets (b) $ 73,430 $ 131,678 $ 7,922 $ 6,962 $ 6,813 $ 6,880 $ 119,448 $ 353,133 (a) There were no material intersegment revenues for the three and nine months ended September 30, 2016 and 2015. (b) Period-end balances for BlackRock. |
Loan Sale and Servicing Activ35
Loan Sale and Servicing Activities and Variable Interest Entities (Narrative) (Details) - Cumulative effect of adopting ASU 2014-01 [Member] - Low Income Housing Tax Credit Investments [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Other Tax Benefits Recognized Low Income Housing Tax Credit Investments | $ 20 | $ 58 |
Tax Credits Recognized Low Income Housing Tax Credit Investments | 56 | 167 |
Amortization Recognized Low Income Housing Tax Credit Investments | $ 55 | $ 160 |
Loan Sale and Servicing Activ36
Loan Sale and Servicing Activities and Variable Interest Entities (Cash Flows Associated with Loan Sale and Servicing Activities) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Residential Mortgages [Member] | |||||
Carrying value of mortgage-backed securities held | $ 6,700,000,000 | $ 5,800,000,000 | $ 6,700,000,000 | $ 5,800,000,000 | $ 6,600,000,000 |
Cash flows from sales of loans | 1,950,000,000 | 2,329,000,000 | 4,796,000,000 | 6,284,000,000 | |
Cash flows from repurchases of previously transferred loans | 133,000,000 | 129,000,000 | 396,000,000 | 432,000,000 | |
Cash flows from servicing fees | 95,000,000 | 84,000,000 | 281,000,000 | 249,000,000 | |
Cash flows from servicing advances recovered | 13,000,000 | 32,000,000 | 89,000,000 | 70,000,000 | |
Cash flows on mortgage-backed securities held | 466,000,000 | 424,000,000 | 1,235,000,000 | 1,093,000,000 | |
Commercial Mortgages [Member] | |||||
Carrying value of mortgage-backed securities held | 1,000,000,000 | 1,100,000,000 | 1,000,000,000 | 1,100,000,000 | $ 1,300,000,000 |
Cash flows from sales of loans | 1,342,000,000 | 846,000,000 | 2,796,000,000 | 3,025,000,000 | |
Cash flows from servicing fees | 31,000,000 | 35,000,000 | 93,000,000 | 103,000,000 | |
Cash flows from servicing advances recovered | 22,000,000 | ||||
Cash flows on mortgage-backed securities held | 31,000,000 | 41,000,000 | 228,000,000 | 155,000,000 | |
Cash flows from servicing advances (funded) | (7,000,000) | (6,000,000) | |||
Home Equity Loans Lines [Member] | |||||
Cash flows from repurchases of previously transferred loans | 90,000,000 | 92,000,000 | |||
Cash flows from servicing fees | 2,000,000 | 4,000,000 | 8,000,000 | 12,000,000 | |
Cash flows from servicing advances recovered | $ 1,000,000 | $ 3,000,000 | $ 21,000,000 | $ 28,000,000 |
Loan Sale and Servicing Activ37
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 ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Residential Mortgages [Member] | |||||
Total principal balance | $ 67,585 | $ 67,585 | $ 72,898 | ||
Delinquent loans | 1,485 | 1,485 | 1,923 | ||
Net charge-offs | 24 | $ 23 | 78 | $ 92 | |
Commercial Mortgages [Member] | |||||
Total principal balance | 46,652 | 46,652 | 53,789 | ||
Delinquent loans | 1,082 | 1,082 | 1,057 | ||
Net charge-offs | 168 | 236 | 1,237 | 491 | |
Home Equity Loans Lines [Member] | |||||
Total principal balance | 2,410 | 2,410 | 2,806 | ||
Delinquent loans | 889 | 889 | $ 904 | ||
Net charge-offs | $ 9 | $ 6 | $ 25 | $ 21 |
Loan Sale and Servicing Activ38
Loan Sale and Servicing Activities and Variable Interest Entities (Consolidated VIEs - Carrying Value) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |||
Cash and due from banks | $ 4,531,000,000 | $ 4,065,000,000 | [1] | $ 3,835,000,000 | $ 4,360,000,000 | ||
Interest-earning deposits with banks | 27,058,000,000 | 30,546,000,000 | [1] | ||||
Loans (b) | 210,446,000,000 | [2] | 206,696,000,000 | [2] | 204,983,000,000 | ||
Allowance for loan and lease losses | (2,619,000,000) | (2,727,000,000) | $ (3,237,000,000) | $ (3,331,000,000) | |||
Equity investments | [1] | 10,605,000,000 | 10,587,000,000 | ||||
Other assets | [1],[2] | 24,730,000,000 | 23,092,000,000 | ||||
Total assets | 369,348,000,000 | 358,493,000,000 | |||||
Other borrowed funds | [3],[4] | 2,117,000,000 | 2,793,000,000 | ||||
Accrued expenses | [4] | 5,226,000,000 | 4,975,000,000 | ||||
Other liabilities | [4] | 5,531,000,000 | 3,743,000,000 | ||||
Total liabilities | 322,503,000,000 | 312,513,000,000 | |||||
Noncontrolling interests | 1,138,000,000 | 1,270,000,000 | |||||
Variable Interest Entity, Primary Beneficiary [Member] | |||||||
Cash and due from banks | [1] | 11,000,000 | |||||
Interest-earning deposits with banks | [1] | 4,000,000 | |||||
Loans (b) | 1,341,000,000 | ||||||
Allowance for loan and lease losses | (48,000,000) | ||||||
Equity investments | [1] | 205,000,000 | 183,000,000 | ||||
Other assets | [1] | 21,000,000 | 402,000,000 | ||||
Total assets | 226,000,000 | 1,893,000,000 | |||||
Other borrowed funds | [4] | 148,000,000 | |||||
Accrued expenses | [4] | 44,000,000 | |||||
Other liabilities | [4] | 202,000,000 | |||||
Total liabilities | 9,000,000 | 394,000,000 | |||||
Noncontrolling interests | $ 121,000,000 | $ 99,000,000 | |||||
[1] | Our consolidated assets at September 30, 2016 included the following assets of certain variable interest entities (VIEs): Equity investments of $205 million and Other assets of $21 million. Our consolidated assets at December 31, 2015 included the following assets of certain VIEs: Cash and due from banks of $11 million, Interest-earning deposits with banks of $4 million, Net loans of $1.3 billion, Equity investments of $183 million, and Other assets of $402 million. | ||||||
[2] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. | ||||||
[3] | Our consolidated liabilities at September 30, 2016 and December 31, 2015 included Other borrowed funds of $78 million and $93 million, respectively, for which we have elected the fair value option. | ||||||
[4] | Our consolidated liabilities at September 30, 2016 included liabilities of $9 million for certain VIEs. Our consolidated liabilities at December 31, 2015 included the following liabilities of certain VIEs: Other borrowed funds of $148 million, Accrued expenses of $44 million, and Other liabilities of $202 million. |
Loan Sale and Servicing Activ39
Loan Sale and Servicing Activities and Variable Interest Entities (Non-Consolidated VIEs) (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
PNC Risk of Loss | $ 10,991 | $ 10,729 |
Carrying Value of Assets Owned by PNC | 10,925 | 10,800 |
Carrying Value of Liabilities Owned by PNC | 808 | 838 |
Commercial Mortgage-Backed Securitizations [Member] | ||
PNC Risk of Loss | 1,089 | 1,498 |
Carrying Value of Assets Owned by PNC | 1,089 | 1,498 |
Carrying Value of Liabilities Owned by PNC | 1 | |
Residential Mortgage-Backed Securitizations [Member] | ||
PNC Risk of Loss | 6,764 | 6,680 |
Carrying Value of Assets Owned by PNC | 6,764 | 6,680 |
Carrying Value of Liabilities Owned by PNC | 1 | 1 |
Tax Credit Investments And Other [Member] | ||
PNC Risk of Loss | 3,138 | 2,551 |
Carrying Value of Assets Owned by PNC | 3,072 | 2,622 |
Carrying Value of Liabilities Owned by PNC | $ 807 | $ 836 |
Asset Quality (Narrative) (Deta
Asset Quality (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Troubled debt restructurings (TDRs) | $ 2,359 | $ 2,359 | $ 2,351 | ||
Nonperforming loans | 2,146 | 2,146 | 2,126 | ||
TDRs [Member] | |||||
Associated Allowance for TDRs | 316 | $ 302 | 316 | $ 302 | 319 |
Recorded Investment - Subsequently defaulted TDRs | 66 | $ 29 | 118 | $ 69 | |
Nonperforming [Member] | |||||
Troubled debt restructurings (TDRs) | 1,177 | 1,177 | 1,119 | ||
Performing, including Consumer Credit Card TDRs [Member] | |||||
Troubled debt restructurings (TDRs) | 1,182 | 1,182 | 1,232 | ||
Federal Reserve Bank [Member] | |||||
Loans pledged as collateral for contingent borrowings | 21,900 | 21,900 | 20,200 | ||
Federal Home Loan Bank [Member] | |||||
Loans pledged as collateral for contingent borrowings | $ 59,100 | $ 59,100 | $ 56,400 |
Asset Quality (Analysis of Loan
Asset Quality (Analysis of Loan Portfolio) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | ||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 210,446 | [1] | $ 206,696 | [1] | $ 204,983 |
Percentage Of Total Loans | 100.00% | 100.00% | |||
Unearned income, net deferred loan fees, unamortized discounts and premiums, and purchase discounts and premiums | $ 1,300 | $ 1,400 | |||
Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 203,541 | $ 199,183 | |||
Percentage Of Total Loans | 96.72% | 96.36% | |||
30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 454 | $ 511 | |||
Percentage Of Total Loans | 0.22% | 0.25% | |||
60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 236 | $ 248 | |||
Percentage Of Total Loans | 0.11% | 0.12% | |||
90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 766 | $ 881 | |||
Percentage Of Total Loans | 0.36% | 0.43% | |||
Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 1,456 | $ 1,640 | |||
Percentage Of Total Loans | 0.69% | 0.80% | |||
Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 2,146 | $ 2,126 | |||
Percentage Of Total Loans | 1.02% | 1.03% | |||
Fair Value Option Nonaccrual Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 223 | $ 225 | |||
Percentage Of Total Loans | 0.11% | 0.11% | |||
Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 3,080 | $ 3,522 | |||
Percentage Of Total Loans | 1.46% | 1.70% | |||
Total commercial lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 138,163 | $ 133,544 | 131,164 | ||
Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 137,195 | 132,649 | |||
Total commercial lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 91 | 98 | |||
Total commercial lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 27 | 38 | |||
Total commercial lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 37 | 45 | |||
Total commercial lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 155 | 181 | |||
Total commercial lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 691 | 545 | |||
Total commercial lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 122 | 169 | |||
Total consumer lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 72,283 | 73,152 | $ 73,819 | ||
Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 66,346 | 66,534 | |||
Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 363 | 413 | |||
Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 209 | 210 | |||
Total consumer lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 729 | 836 | |||
Total consumer lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1,301 | 1,459 | |||
Total consumer lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1,455 | 1,581 | |||
Total consumer lending [Member] | Fair Value Option Nonaccrual Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 223 | 225 | |||
Total consumer lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 2,958 | 3,353 | |||
Commercial [Member] | Total commercial lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 101,512 | 98,608 | |||
Commercial [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 100,845 | 98,075 | |||
Commercial [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 64 | 69 | |||
Commercial [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 24 | 32 | |||
Commercial [Member] | Total commercial lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 37 | 45 | |||
Commercial [Member] | Total commercial lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 125 | 146 | |||
Commercial [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 521 | 351 | |||
Commercial [Member] | Total commercial lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 21 | 36 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 29,273 | 27,468 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 28,993 | 27,134 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 26 | 10 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1 | 4 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 27 | 14 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 152 | 187 | |||
Commercial Real Estate [Member] | Total commercial lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 101 | 133 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 7,378 | 7,468 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 7,357 | 7,440 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1 | 19 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 2 | 2 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 3 | 21 | |||
Equipment Lease Financing [Member] | Total commercial lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 18 | 7 | |||
Home Equity [Member] | Total consumer lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 30,432 | 32,133 | |||
Home Equity [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 28,267 | 29,656 | |||
Home Equity [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 55 | 63 | |||
Home Equity [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 27 | 30 | |||
Home Equity [Member] | Total consumer lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 82 | 93 | |||
Home Equity [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 895 | 977 | |||
Home Equity [Member] | Total consumer lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1,188 | 1,407 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 15,141 | 14,411 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 11,969 | 10,918 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 110 | 142 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 71 | 65 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 496 | 566 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 677 | 773 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Total Past Due [Member] | Government Insured or Guaranteed Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 579 | 646 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 502 | 549 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Fair Value Option Nonaccrual Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 223 | 225 | |||
Residential Real Estate [Member] | Total consumer lending [Member] | Purchased Impaired Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 1,770 | 1,946 | |||
Credit Card [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 5,029 | 4,862 | |||
Credit Card [Member] | Total consumer lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 5,029 | 4,862 | |||
Credit Card [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 4,947 | 4,779 | |||
Credit Card [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 28 | 28 | |||
Credit Card [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 19 | 19 | |||
Credit Card [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 31 | 33 | |||
Credit Card [Member] | Total consumer lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 78 | 80 | |||
Credit Card [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 4 | 3 | |||
Other Consumer [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 21,681 | 21,746 | |||
Other Consumer [Member] | Total consumer lending [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 21,681 | 21,746 | |||
Other Consumer [Member] | Total consumer lending [Member] | Current or Less Than 30 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 21,163 | 21,181 | |||
Other Consumer [Member] | Total consumer lending [Member] | 30-59 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 170 | 180 | |||
Other Consumer [Member] | Total consumer lending [Member] | 60-89 Days Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 92 | 96 | |||
Other Consumer [Member] | Total consumer lending [Member] | 90 Days or More Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 202 | 237 | |||
Other Consumer [Member] | Total consumer lending [Member] | Total Past Due [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 464 | 513 | |||
Other Consumer [Member] | Total consumer lending [Member] | Total Past Due [Member] | Government Insured or Guaranteed Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | 361 | 411 | |||
Other Consumer [Member] | Total consumer lending [Member] | Nonperforming Loans [Member] | |||||
financingreceivablerecordedinvestmentpastduelineitems | |||||
Total Loans | $ 54 | $ 52 | |||
[1] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. |
Asset Quality (Nonperforming As
Asset Quality (Nonperforming Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Nonperforming loans | $ 2,146 | $ 2,126 |
Other real estate owned (OREO) | 217 | 279 |
Foreclosed and other assets | 12 | 20 |
Total OREO and foreclosed assets | 229 | 299 |
Total nonperforming assets | $ 2,375 | $ 2,425 |
Nonperforming loans to total loans | 1.02% | 1.03% |
Nonperforming assets to total loans, OREO and foreclosed assets | 1.13% | 1.17% |
Nonperforming assets to total assets | 0.64% | 0.68% |
Mortgage loans in process of foreclosure | $ 400 | $ 600 |
Government Insured or Guaranteed Loans [Member] | ||
Mortgage loans in process of foreclosure | 300 | 300 |
Total commercial lending [Member] | ||
Nonperforming loans | 691 | 545 |
Total consumer lending [Member] | ||
Nonperforming loans | $ 1,455 | $ 1,581 |
Asset Quality (Commercial Lendi
Asset Quality (Commercial Lending Asset Quality Indicators) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | $ 3,080,000,000 | $ 4,167,000,000 | |||
Total Loans | 210,446,000,000 | [1] | $ 206,696,000,000 | [1] | 204,983,000,000 |
Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 122,000,000 | 169,000,000 | 204,000,000 | ||
Total Loans | 138,163,000,000 | 133,544,000,000 | $ 131,164,000,000 | ||
Total commercial lending [Member] | Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 101,491,000,000 | 98,572,000,000 | |||
Total Loans | 101,512,000,000 | 98,608,000,000 | |||
Total commercial lending [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 29,172,000,000 | 27,335,000,000 | |||
Total Loans | 29,273,000,000 | 27,468,000,000 | |||
Total commercial lending [Member] | Equipment Lease Financing [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,378,000,000 | 7,468,000,000 | |||
Total Loans | 7,378,000,000 | 7,468,000,000 | |||
Pass [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 35,000,000 | ||||
Total Loans | 132,023,000,000 | 127,323,000,000 | |||
Pass [Member] | Total commercial lending [Member] | Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 96,035,000,000 | 93,364,000,000 | |||
Pass [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 28,768,000,000 | 26,729,000,000 | |||
Pass [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 7,185,000,000 | 7,230,000,000 | |||
Special Mention [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 1,000,000 | 6,000,000 | |||
Total Loans | 2,176,000,000 | 2,242,000,000 | |||
Special Mention [Member] | Total commercial lending [Member] | Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 2,046,000,000 | 2,029,000,000 | |||
Special Mention [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 60,000,000 | 120,000,000 | |||
Special Mention [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 69,000,000 | 87,000,000 | |||
Substandard [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 80,000,000 | 157,000,000 | |||
Total Loans | 3,859,000,000 | 3,877,000,000 | |||
Substandard [Member] | Total commercial lending [Member] | Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 3,335,000,000 | 3,089,000,000 | |||
Substandard [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 328,000,000 | 481,000,000 | |||
Substandard [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 116,000,000 | 150,000,000 | |||
Doubtful [Member] | Total commercial lending [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Purchased impaired loans | 6,000,000 | 6,000,000 | |||
Total Loans | 105,000,000 | 102,000,000 | |||
Doubtful [Member] | Total commercial lending [Member] | Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 75,000,000 | 90,000,000 | |||
Doubtful [Member] | Total commercial lending [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 16,000,000 | 5,000,000 | |||
Doubtful [Member] | Total commercial lending [Member] | Equipment Lease Financing [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | $ 8,000,000 | $ 1,000,000 | |||
[1] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. |
Asset Quality (Home Equity and
Asset Quality (Home Equity and Residential Real Estate Balances) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total loans | $ 210,446 | [1] | $ 206,696 | [1] | $ 204,983 |
Total home equity and residential real estate loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans - Excluding Purchased Impaired Loans | 41,764 | 42,268 | |||
Purchased Impaired Loans - Outstanding Balance | 3,211 | 3,684 | |||
Government insured or guaranteed residential real estate mortgages | 851 | 923 | |||
Difference between outstanding balance and recorded investment - purchased impaired loans | (253) | (331) | |||
Total loans | $ 45,573 | $ 46,544 | |||
[1] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. |
Asset Quality (Consumer Real Es
Asset Quality (Consumer Real Estate Secured Asset Quality Indicators) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Recorded Investment | $ 3,080,000,000 | $ 4,167,000,000 | |
% of Loans | 100.00% | 100.00% | |
Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | $ 16,700,000,000 | $ 17,060,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 232,000,000 | 249,000,000 | |
Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,544,000,000 | 13,666,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,292,000,000 | 1,520,000,000 | |
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,520,000,000 | 11,542,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,687,000,000 | 1,915,000,000 | |
Residential Real Estate [Member] | Government Insured or Guaranteed Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 851,000,000 | 923,000,000 | |
Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 41,764,000,000 | 42,268,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 3,211,000,000 | 3,684,000,000 | |
Purchased Impaired Loans - Recorded Investment | $ 2,958,000,000 | $ 3,353,000,000 | |
Total home equity and residential real estate loans [Member] | New Jersey [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 17.00% | 14.00% | |
Total home equity and residential real estate loans [Member] | Pennsylvania [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 13.00% | 12.00% | |
Total home equity and residential real estate loans [Member] | Illinois [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 11.00% | 11.00% | |
Total home equity and residential real estate loans [Member] | Illinois [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 11.00% | 11.00% | |
Total home equity and residential real estate loans [Member] | Ohio [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 11.00% | 11.00% | |
Total home equity and residential real estate loans [Member] | Ohio [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 9.00% | 9.00% | |
Total home equity and residential real estate loans [Member] | Florida [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 7.00% | 7.00% | |
Total home equity and residential real estate loans [Member] | Florida [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 14.00% | 14.00% | |
Total home equity and residential real estate loans [Member] | California [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 16.00% | 16.00% | |
Total home equity and residential real estate loans [Member] | Maryland [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 7.00% | 7.00% | |
Total home equity and residential real estate loans [Member] | Michigan [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 4.00% | 5.00% | |
Total home equity and residential real estate loans [Member] | Michigan [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 5.00% | 5.00% | |
Total home equity and residential real estate loans [Member] | North Carolina [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 4.00% | ||
Total home equity and residential real estate loans [Member] | North Carolina [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 7.00% | 7.00% | |
Total home equity and residential real estate loans [Member] | All Other States Maximum [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 4.00% | 4.00% | |
Total home equity and residential real estate loans [Member] | All Other States Maximum [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 4.00% | 4.00% | |
Total home equity and residential real estate loans [Member] | All Other States [Member] | High Risk [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 26.00% | 33.00% | |
Total home equity and residential real estate loans [Member] | All Other States [Member] | Purchased Impaired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
% of Loans | 38.00% | 38.00% | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | $ 197,000,000 | $ 283,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 6,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 726,000,000 | 960,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 118,000,000 | 164,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 205,000,000 | 284,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 144,000,000 | 147,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,128,000,000 | 1,527,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 266,000,000 | 317,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 40,000,000 | 40,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 6,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 135,000,000 | 189,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 53,000,000 | 79,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 38,000,000 | 68,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 49,000,000 | 76,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 213,000,000 | 297,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 106,000,000 | 161,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | ||
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 5,000,000 | 8,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 3,000,000 | 7,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,000,000 | 5,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 6,000,000 | 5,000,000 | |
LTV greater than or equal to 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 8,000,000 | 14,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 12,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 480,000,000 | 646,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 12,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,372,000,000 | 1,733,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 284,000,000 | 331,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 391,000,000 | 564,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 146,000,000 | 186,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,243,000,000 | 2,943,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 438,000,000 | 529,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 78,000,000 | 92,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 9,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 240,000,000 | 302,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 117,000,000 | 145,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 88,000,000 | 102,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 94,000,000 | 118,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 406,000,000 | 496,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 219,000,000 | 272,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,000,000 | 3,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 3,000,000 | 4,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 8,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,000,000 | 8,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 9,000,000 | 7,000,000 | |
LTV greater than or equal to 100% to less than 125% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 16,000,000 | 15,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 13,000,000 | 15,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 535,000,000 | 698,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 7,000,000 | 10,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,233,000,000 | 1,492,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 152,000,000 | 167,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 520,000,000 | 615,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 106,000,000 | 133,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,288,000,000 | 2,805,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 265,000,000 | 310,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 77,000,000 | 88,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 6,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 195,000,000 | 226,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 66,000,000 | 75,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 78,000,000 | 94,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 55,000,000 | 68,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 350,000,000 | 408,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 126,000,000 | 149,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,000,000 | 1,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,000,000 | 3,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 2,000,000 | 4,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,000,000 | 10,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 6,000,000 | 3,000,000 | |
LTV greater than or equal to 90% to less than 100% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 16,000,000 | 14,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 8,000,000 | 7,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 13,934,000,000 | 13,895,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 110,000,000 | 106,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 7,771,000,000 | 7,808,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 322,000,000 | 345,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 10,458,000,000 | 9,117,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 607,000,000 | 665,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 32,163,000,000 | 30,820,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,039,000,000 | 1,116,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 1,334,000,000 | 1,282,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 83,000,000 | 91,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 850,000,000 | 923,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 166,000,000 | 182,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 593,000,000 | 570,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 399,000,000 | 455,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 2,777,000,000 | 2,775,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 648,000,000 | 728,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 22,000,000 | 31,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Home Equity [Member] | 2nd Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 12,000,000 | 18,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 5,000,000 | 13,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 122,000,000 | 105,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 48,000,000 | 31,000,000 | |
LTV less than 90% and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans - Excluding Purchased Impaired Loans | 156,000,000 | 154,000,000 | |
Purchased Impaired Loans - Outstanding Balance | 54,000,000 | 45,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 14,000,000 | 14,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Greater than 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 15,000,000 | 15,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Home Equity [Member] | 1st Liens [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 3,000,000 | 6,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Less than or equal to 660 [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 4,000,000 | 7,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Missing [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | 1,000,000 | 1,000,000 | |
Missing LTV and updated FICO scores [Member] | FICO Score- Missing [Member] | Total home equity and residential real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Purchased Impaired Loans - Outstanding Balance | $ 1,000,000 | $ 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, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | ||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 210,446 | [1] | $ 206,696 | [1] | $ 204,983 |
% of Loans | 100.00% | 100.00% | |||
Credit Card [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 5,029 | $ 4,862 | |||
Credit Card [Member] | High Risk [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 32 | $ 34 | |||
Credit Card [Member] | High Risk [Member] | Ohio [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 15.00% | 17.00% | |||
Credit Card [Member] | High Risk [Member] | Pennsylvania [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 17.00% | 15.00% | |||
Credit Card [Member] | High Risk [Member] | Michigan [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 8.00% | 8.00% | |||
Credit Card [Member] | High Risk [Member] | New Jersey [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 8.00% | 8.00% | |||
Credit Card [Member] | High Risk [Member] | Florida [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 7.00% | 7.00% | |||
Credit Card [Member] | High Risk [Member] | Illinois [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 6.00% | 6.00% | |||
Credit Card [Member] | High Risk [Member] | Indiana [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 5.00% | 6.00% | |||
Credit Card [Member] | High Risk [Member] | Maryland [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 5.00% | 4.00% | |||
Credit Card [Member] | High Risk [Member] | Kentucky [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 4.00% | ||||
Credit Card [Member] | High Risk [Member] | North Carolina [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 5.00% | 4.00% | |||
Credit Card [Member] | High Risk [Member] | All Other States Maximum [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
% of Loans | 4.00% | 4.00% | |||
Credit Card [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 5,029 | $ 4,862 | |||
% of Loans | 100.00% | 100.00% | |||
Weighted average FICO score | 734 | 734 | |||
Credit Card [Member] | FICO Score - Greater than 719 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 3,029 | $ 2,936 | |||
% of Loans | 60.00% | 60.00% | |||
Credit Card [Member] | FICO Score - 650 to 719 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 1,412 | $ 1,346 | |||
% of Loans | 28.00% | 28.00% | |||
Credit Card [Member] | FICO Score - 620 to 649 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 209 | $ 202 | |||
% of Loans | 4.00% | 4.00% | |||
Credit Card [Member] | FICO Score - Less than 620 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 225 | $ 227 | |||
% of Loans | 5.00% | 5.00% | |||
Credit Card [Member] | No FICO Score Available Or Required [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 154 | $ 151 | |||
% of Loans | 3.00% | 3.00% | |||
Other Consumer Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 21,681 | $ 21,746 | |||
Other Consumer Loans [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 15,317 | $ 14,533 | |||
% of Loans | 100.00% | 100.00% | |||
Weighted average FICO score | 746 | 744 | |||
Other Consumer Loans [Member] | FICO Score - Greater than 719 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 10,073 | $ 9,371 | |||
% of Loans | 66.00% | 65.00% | |||
Other Consumer Loans [Member] | FICO Score - 650 to 719 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 3,717 | $ 3,534 | |||
% of Loans | 24.00% | 24.00% | |||
Other Consumer Loans [Member] | FICO Score - 620 to 649 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 512 | $ 523 | |||
% of Loans | 3.00% | 4.00% | |||
Other Consumer Loans [Member] | FICO Score - Less than 620 [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 577 | $ 604 | |||
% of Loans | 4.00% | 4.00% | |||
Other Consumer Loans [Member] | No FICO Score Available Or Required [Member] | Using FICO Credit Metric [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 438 | $ 501 | |||
% of Loans | 3.00% | 3.00% | |||
Other Consumer Loans [Member] | Other Internal Credit Metrics [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total Loans | $ 6,364 | $ 7,213 | |||
[1] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. |
Asset Quality (Summary of TDRs)
Asset Quality (Summary of TDRs) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings (TDRs) | $ 2,359 | $ 2,351 |
Nonperforming [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings (TDRs) | 1,177 | 1,119 |
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings (TDRs) | 1,182 | 1,232 |
Total commercial lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings (TDRs) | 527 | 434 |
Total consumer lending [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings (TDRs) | $ 1,832 | $ 1,917 |
Asset Quality (Financial Impact
Asset Quality (Financial Impact and TDRs by Concession Type) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | Sep. 30, 2016USD ($)loans | Sep. 30, 2015USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 2,837 | 3,053 | 8,544 | 8,514 |
Pre-TDR Recorded Investment | $ 170 | $ 175 | $ 667 | $ 435 |
Post-TDR Recorded Investment | 156 | 152 | 609 | 383 |
Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 15 | 20 | ||
Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 38 | 62 | 172 | 154 |
Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 118 | $ 75 | $ 437 | $ 209 |
Total commercial lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 37 | 39 | 109 | 114 |
Pre-TDR Recorded Investment | $ 108 | $ 80 | $ 480 | $ 185 |
Post-TDR Recorded Investment | 97 | 62 | 432 | 144 |
Total commercial lending [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 15 | 20 | ||
Total commercial lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 1 | 53 | 4 | |
Total commercial lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 96 | $ 47 | $ 379 | $ 120 |
Total consumer lending [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loans | 2,800 | 3,014 | 8,435 | 8,400 |
Pre-TDR Recorded Investment | $ 62 | $ 95 | $ 187 | $ 250 |
Post-TDR Recorded Investment | 59 | 90 | 177 | 239 |
Total consumer lending [Member] | Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | 37 | 62 | 119 | 150 |
Total consumer lending [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Post-TDR Recorded Investment | $ 22 | $ 28 | $ 58 | $ 89 |
Asset Quality (Impaired Loans)
Asset Quality (Impaired Loans) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | $ 2,014 | $ 2,085 | |
Unpaid principal balance - Impaired loans without an associated allowance | 1,531 | 1,407 | |
Unpaid principal balance - Total impaired loans | 3,545 | 3,492 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 1,701 | 1,774 | |
Recorded investment - Impaired loans without an associated allowance | 1,002 | 886 | |
Recorded investment - Total impaired loans | 2,703 | 2,660 | |
Associated Allowance - Total impaired loans | 360 | 395 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 1,775 | 1,977 | |
Average recorded investment - Impaired loans without an associated allowance | 978 | 767 | |
Average recorded investment - Total impaired loans | 2,753 | 2,744 | |
TDRs [Member] | |||
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Associated Allowance for TDRs | 316 | 319 | $ 302 |
Commercial [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 544 | 442 | |
Unpaid principal balance - Impaired loans without an associated allowance | 379 | 201 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 389 | 337 | |
Recorded investment - Impaired loans without an associated allowance | 265 | 118 | |
Associated Allowance - Total impaired loans | 92 | 84 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 394 | 306 | |
Average recorded investment - Impaired loans without an associated allowance | 232 | 87 | |
Commercial Real Estate [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 221 | 254 | |
Unpaid principal balance - Impaired loans without an associated allowance | 135 | 206 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 102 | 130 | |
Recorded investment - Impaired loans without an associated allowance | 115 | 158 | |
Associated Allowance - Total impaired loans | 28 | 35 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 108 | 197 | |
Average recorded investment - Impaired loans without an associated allowance | 143 | 168 | |
Home Equity [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 891 | 978 | |
Unpaid principal balance - Impaired loans without an associated allowance | 486 | 464 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 859 | 909 | |
Recorded investment - Impaired loans without an associated allowance | 221 | 206 | |
Associated Allowance - Total impaired loans | 186 | 216 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 893 | 965 | |
Average recorded investment - Impaired loans without an associated allowance | 205 | 158 | |
Residential Real Estate [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 227 | 272 | |
Unpaid principal balance - Impaired loans without an associated allowance | 508 | 512 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 222 | 264 | |
Recorded investment - Impaired loans without an associated allowance | 394 | 396 | |
Associated Allowance - Total impaired loans | 29 | 35 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 249 | 359 | |
Average recorded investment - Impaired loans without an associated allowance | 390 | 346 | |
Credit Card [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 104 | 108 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 104 | 108 | |
Associated Allowance - Total impaired loans | 24 | 24 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 106 | 118 | |
Other Consumer [Member] | |||
Unpaid Principal Balance - Impaired Financing Receivable [Abstract] | |||
Unpaid principal balance - Impaired loans with an associated allowance | 27 | 31 | |
Unpaid principal balance - Impaired loans without an associated allowance | 23 | 24 | |
Recorded Investment - Impaired Financing Receivable [Abstract] | |||
Recorded investment - Impaired loans with an associated allowance | 25 | 26 | |
Recorded investment - Impaired loans without an associated allowance | 7 | 8 | |
Associated Allowance - Total impaired loans | 1 | 1 | |
Average Recorded Receivable - Impaired Financing Receivable [Abstract] | |||
Average recorded investment - Impaired loans with an associated allowance | 25 | 32 | |
Average recorded investment - Impaired loans without an associated allowance | $ 8 | $ 8 |
Allowances for Loan and Lease50
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Beginning Balance | $ 2,727,000,000 | $ 3,331,000,000 | ||||||
Charge-offs | (692,000,000) | (589,000,000) | ||||||
Recoveries | 255,000,000 | 323,000,000 | ||||||
Net charge-offs | (437,000,000) | (266,000,000) | ||||||
Provision For Credit Losses | $ 87,000,000 | $ 81,000,000 | 366,000,000 | 181,000,000 | ||||
Net change in allowance for unfunded loan commitments and letters of credit | (49,000,000) | (7,000,000) | ||||||
Net Recoveries of purchased impaired loans and other | 12,000,000 | |||||||
Other | (2,000,000) | |||||||
Ending Balance | 2,619,000,000 | 3,237,000,000 | 2,619,000,000 | 3,237,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 1,936,000,000 | 2,047,000,000 | 1,936,000,000 | 2,047,000,000 | ||||
Impaired loans - associated allowance | 360,000,000 | 360,000,000 | $ 395,000,000 | |||||
Loans collectively evaluated for impairment | 203,789,000,000 | 197,242,000,000 | 203,789,000,000 | 197,242,000,000 | ||||
Fair value option loans | 874,000,000 | 915,000,000 | 874,000,000 | 915,000,000 | ||||
Purchased impaired loans | 3,080,000,000 | 4,167,000,000 | 3,080,000,000 | 4,167,000,000 | ||||
Total loans | $ 210,446,000,000 | [1] | $ 204,983,000,000 | $ 210,446,000,000 | [1] | $ 204,983,000,000 | 206,696,000,000 | [1] |
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 | 1.24% | 1.58% | 1.24% | 1.58% | ||||
TDRs [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans individually evaluated for impairment - associated allowance | $ 316,000,000 | $ 302,000,000 | $ 316,000,000 | $ 302,000,000 | 319,000,000 | |||
Loans individually evaluated for impairment | 2,359,000,000 | 2,368,000,000 | 2,359,000,000 | 2,368,000,000 | ||||
Other Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans individually evaluated for impairment - associated allowance | 44,000,000 | 70,000,000 | 44,000,000 | 70,000,000 | ||||
Loans individually evaluated for impairment | 344,000,000 | 291,000,000 | 344,000,000 | 291,000,000 | ||||
Purchased Impaired Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Impaired loans - associated allowance | 323,000,000 | 818,000,000 | 323,000,000 | 818,000,000 | ||||
Evaluated Based On Collateral Values [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans collectively evaluated for impairment | 100,000,000 | 200,000,000 | 100,000,000 | 200,000,000 | ||||
Total commercial lending [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Beginning Balance | 1,605,000,000 | 1,571,000,000 | ||||||
Charge-offs | (297,000,000) | (176,000,000) | ||||||
Recoveries | 133,000,000 | 188,000,000 | ||||||
Net charge-offs | (164,000,000) | 12,000,000 | ||||||
Provision For Credit Losses | 156,000,000 | 48,000,000 | ||||||
Net change in allowance for unfunded loan commitments and letters of credit | (48,000,000) | (7,000,000) | ||||||
Net Recoveries of purchased impaired loans and other | 1,000,000 | |||||||
Other | (2,000,000) | |||||||
Ending Balance | 1,550,000,000 | 1,622,000,000 | 1,550,000,000 | 1,622,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 1,388,000,000 | 1,446,000,000 | 1,388,000,000 | 1,446,000,000 | ||||
Loans collectively evaluated for impairment | 137,170,000,000 | 130,249,000,000 | 137,170,000,000 | 130,249,000,000 | ||||
Purchased impaired loans | 122,000,000 | 204,000,000 | 122,000,000 | 204,000,000 | 169,000,000 | |||
Total loans | $ 138,163,000,000 | $ 131,164,000,000 | $ 138,163,000,000 | $ 131,164,000,000 | 133,544,000,000 | |||
Portfolio segment ALLL as a percentage of total ALLL | 59.00% | 50.00% | 59.00% | 50.00% | ||||
Ratio of the allowance for loan and lease losses to total loans | 1.12% | 1.24% | 1.12% | 1.24% | ||||
Total commercial lending [Member] | TDRs [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans individually evaluated for impairment - associated allowance | $ 76,000,000 | $ 39,000,000 | $ 76,000,000 | $ 39,000,000 | ||||
Loans individually evaluated for impairment | 527,000,000 | 420,000,000 | 527,000,000 | 420,000,000 | ||||
Total commercial lending [Member] | Other Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans individually evaluated for impairment - associated allowance | 44,000,000 | 70,000,000 | 44,000,000 | 70,000,000 | ||||
Loans individually evaluated for impairment | 344,000,000 | 291,000,000 | 344,000,000 | 291,000,000 | ||||
Total commercial lending [Member] | Purchased Impaired Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Impaired loans - associated allowance | 42,000,000 | 67,000,000 | 42,000,000 | 67,000,000 | ||||
Total consumer lending [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Beginning Balance | 1,122,000,000 | 1,760,000,000 | ||||||
Charge-offs | (395,000,000) | (413,000,000) | ||||||
Recoveries | 122,000,000 | 135,000,000 | ||||||
Net charge-offs | (273,000,000) | (278,000,000) | ||||||
Provision For Credit Losses | 210,000,000 | 133,000,000 | ||||||
Net change in allowance for unfunded loan commitments and letters of credit | (1,000,000) | |||||||
Net Recoveries of purchased impaired loans and other | 11,000,000 | |||||||
Ending Balance | 1,069,000,000 | 1,615,000,000 | 1,069,000,000 | 1,615,000,000 | ||||
Loans collectively evaluated for impairment - associated allowance | 548,000,000 | 601,000,000 | 548,000,000 | 601,000,000 | ||||
Loans collectively evaluated for impairment | 66,619,000,000 | 66,993,000,000 | 66,619,000,000 | 66,993,000,000 | ||||
Fair value option loans | 874,000,000 | 915,000,000 | 874,000,000 | 915,000,000 | ||||
Purchased impaired loans | 2,958,000,000 | 3,963,000,000 | 2,958,000,000 | 3,963,000,000 | ||||
Total loans | $ 72,283,000,000 | $ 73,819,000,000 | $ 72,283,000,000 | $ 73,819,000,000 | $ 73,152,000,000 | |||
Portfolio segment ALLL as a percentage of total ALLL | 41.00% | 50.00% | 41.00% | 50.00% | ||||
Ratio of the allowance for loan and lease losses to total loans | 1.48% | 2.19% | 1.48% | 2.19% | ||||
Total consumer lending [Member] | TDRs [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Loans individually evaluated for impairment - associated allowance | $ 240,000,000 | $ 263,000,000 | $ 240,000,000 | $ 263,000,000 | ||||
Loans individually evaluated for impairment | 1,832,000,000 | 1,948,000,000 | 1,832,000,000 | 1,948,000,000 | ||||
Total consumer lending [Member] | Purchased Impaired Loans [Member] | ||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||
Impaired loans - associated allowance | $ 281,000,000 | $ 751,000,000 | $ 281,000,000 | $ 751,000,000 | ||||
[1] | Our consolidated assets at September 30, 2016 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $136 million, Loans held for sale of $2.0 billion, Loans of $.9 billion, and Other assets of $384 million. Our consolidated assets at December 31, 2015 included the following for which we have elected the fair value option: Federal funds sold and resale agreements of $137 million, Loans held for sale of $1.5 billion, Loans of $.9 billion, and Other assets of $521 million. |
Allowances for Loan and Lease51
Allowances for Loan and Lease Losses and Unfunded Loan Commitments and Letters Of Credit (Rollforward of Allowance for Unfunded Loan Commitments and Letters of Credit) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Allowance For Loan And Lease Losses [Abstract] | ||
Beginning balance | $ 261 | $ 259 |
Net change in allowance for unfunded loan commitments and letters of credit | 49 | 7 |
Ending balance | $ 310 | $ 266 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held | $ 1,100,000,000 | |
Gross unrealized loss on debt securities held to maturity in a continuous loss position for less than 12 months - fair value | 100,000,000 | $ 5,500,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position for less than 12 months | 10,000,000 | 59,000,000 |
Gross unrealized loss on debt securities held to maturity in a continuous loss position greater than 12 months | 6,000,000 | 23,000,000 |
Gross unrealized loss on debt securities held to maturity | 16,000,000 | 82,000,000 |
Gain on derivatives used to hedge purchase of investment securities | 103,000,000 | |
Gross unrealized loss on debt securities held to maturity in a continuous loss position greater than 12 months - fair value | 900,000,000 | $ 953,000,000 |
Federal National Mortgage Association Certificates And Obligations [FNMA Member] | ||
Schedule of Investments [Line Items] | ||
Fair value of debt securities of a single issuer that exceeeds 10 percent of shareholders equity | 29,000,000,000 | |
Amortized cost of debt securities of a single issuer that exceeeds 10 percent of shareholders equity | $ 28,400,000,000 |
Investment Securities (Summary)
Investment Securities (Summary) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 60,670 | $ 55,269 |
Securities available for sale debt securities, unrealized gains | 1,418 | 854 |
Securities available for sale debt securities, unrealized losses | (147) | (363) |
Securities available for sale, fair value | 61,941 | 55,760 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 60,145 | 54,679 |
Securities available for sale debt securities, unrealized gains | 1,418 | 854 |
Securities available for sale debt securities, unrealized losses | (147) | (362) |
Securities available for sale, fair value | 61,416 | 55,171 |
Held to Maturity Securities, Amortized Cost, Total | 16,573 | 14,768 |
Held-to-maturity securities, unrealized gains | 555 | 311 |
Held-to-maturity securities, unrealized losses | (15) | (77) |
Held-to-maturity securities, fair value | 17,113 | 15,002 |
AFS to HTM Transfer Net Unrealized Gains In AOCI | 78 | 97 |
US Treasury and Government Agencies Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 12,062 | 9,764 |
Securities available for sale debt securities, unrealized gains | 301 | 152 |
Securities available for sale debt securities, unrealized losses | (13) | (42) |
Securities available for sale, fair value | 12,350 | 9,874 |
Held to Maturity Securities, Amortized Cost, Total | 265 | 258 |
Held-to-maturity securities, unrealized gains | 65 | 40 |
Held-to-maturity securities, fair value | 330 | 298 |
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 | 27,429 | 24,698 |
Securities available for sale debt securities, unrealized gains | 568 | 250 |
Securities available for sale debt securities, unrealized losses | (18) | (128) |
Securities available for sale, fair value | 27,979 | 24,820 |
Held to Maturity Securities, Amortized Cost, Total | 11,637 | 9,552 |
Held-to-maturity securities, unrealized gains | 254 | 101 |
Held-to-maturity securities, unrealized losses | (2) | (65) |
Held-to-maturity securities, fair value | 11,889 | 9,588 |
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 | 3,372 | 3,992 |
Securities available for sale debt securities, unrealized gains | 226 | 247 |
Securities available for sale debt securities, unrealized losses | (61) | (88) |
Securities available for sale, fair value | 3,537 | 4,151 |
Held to Maturity Securities, Amortized Cost, Total | 204 | 233 |
Held-to-maturity securities, unrealized gains | 13 | 8 |
Held-to-maturity securities, fair value | 217 | 241 |
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 | 2,301 | 1,917 |
Securities available for sale debt securities, unrealized gains | 21 | 11 |
Securities available for sale debt securities, unrealized losses | (4) | (10) |
Securities available for sale, fair value | 2,318 | 1,918 |
Held to Maturity Securities, Amortized Cost, Total | 1,051 | 1,128 |
Held-to-maturity securities, unrealized gains | 39 | 40 |
Held-to-maturity securities, fair value | 1,090 | 1,168 |
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 | 4,183 | 4,902 |
Securities available for sale debt securities, unrealized gains | 69 | 30 |
Securities available for sale debt securities, unrealized losses | (19) | (29) |
Securities available for sale, fair value | 4,233 | 4,903 |
Held to Maturity Securities, Amortized Cost, Total | 579 | 722 |
Held-to-maturity securities, unrealized gains | 25 | 6 |
Held-to-maturity securities, unrealized losses | (1) | |
Held-to-maturity securities, fair value | 604 | 727 |
Asset Backed Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 6,123 | 5,417 |
Securities available for sale debt securities, unrealized gains | 66 | 54 |
Securities available for sale debt securities, unrealized losses | (26) | (48) |
Securities available for sale, fair value | 6,163 | 5,423 |
Held to Maturity Securities, Amortized Cost, Total | 799 | 717 |
Held-to-maturity securities, unrealized losses | (4) | (10) |
Held-to-maturity securities, fair value | 795 | 707 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 1,963 | 1,982 |
Securities available for sale debt securities, unrealized gains | 107 | 79 |
Securities available for sale debt securities, unrealized losses | (3) | (5) |
Securities available for sale, fair value | 2,067 | 2,056 |
Held to Maturity Securities, Amortized Cost, Total | 1,920 | 1,954 |
Held-to-maturity securities, unrealized gains | 159 | 116 |
Held-to-maturity securities, fair value | 2,079 | 2,070 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | 2,712 | 2,007 |
Securities available for sale debt securities, unrealized gains | 60 | 31 |
Securities available for sale debt securities, unrealized losses | (3) | (12) |
Securities available for sale, fair value | 2,769 | 2,026 |
Held to Maturity Securities, Amortized Cost, Total | 118 | 204 |
Held-to-maturity securities, unrealized losses | (9) | (1) |
Held-to-maturity securities, fair value | 109 | 203 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale equity securities, fair value | 525 | 589 |
Securities available for sale equity securities, unrealized losses | (1) | |
Securities available for sale equity securities, amortized cost | $ 525 | $ 590 |
Investment Securities (Gross Un
Investment Securities (Gross Unrealized Loss and Fair Value of Securities Available for Sale) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | $ (18) | $ (216) |
Unrealized loss position less than 12 months - fair value | 3,876 | 25,715 |
Unrealized loss position 12 months or more - unrealized loss | (129) | (147) |
Unrealized loss position 12 months or more - fair value | 8,246 | 4,425 |
Total unrealized loss | (147) | (363) |
Total fair value | 12,122 | 30,140 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (18) | (216) |
Unrealized loss position less than 12 months - fair value | 3,876 | 25,669 |
Unrealized loss position 12 months or more - unrealized loss | (129) | (146) |
Unrealized loss position 12 months or more - fair value | 8,230 | 4,410 |
Total unrealized loss | (147) | (362) |
Total fair value | 12,106 | 30,079 |
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 | (1) | (40) |
Unrealized loss position less than 12 months - fair value | 1,197 | 5,885 |
Unrealized loss position 12 months or more - unrealized loss | (12) | (2) |
Unrealized loss position 12 months or more - fair value | 2,805 | 120 |
Total unrealized loss | (13) | (42) |
Total fair value | 4,002 | 6,005 |
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 | (5) | (103) |
Unrealized loss position less than 12 months - fair value | 699 | 11,799 |
Unrealized loss position 12 months or more - unrealized loss | (13) | (25) |
Unrealized loss position 12 months or more - fair value | 943 | 1,094 |
Total unrealized loss | (18) | (128) |
Total fair value | 1,642 | 12,893 |
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 | (1) | (3) |
Unrealized loss position less than 12 months - fair value | 146 | 368 |
Unrealized loss position 12 months or more - unrealized loss | (60) | (85) |
Unrealized loss position 12 months or more - fair value | 1,222 | 1,527 |
Total unrealized loss | (61) | (88) |
Total fair value | 1,368 | 1,895 |
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 | (3) | (7) |
Unrealized loss position less than 12 months - fair value | 400 | 745 |
Unrealized loss position 12 months or more - unrealized loss | (1) | (3) |
Unrealized loss position 12 months or more - fair value | 114 | 120 |
Total unrealized loss | (4) | (10) |
Total fair value | 514 | 865 |
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 | (4) | (22) |
Unrealized loss position less than 12 months - fair value | 587 | 2,310 |
Unrealized loss position 12 months or more - unrealized loss | (15) | (7) |
Unrealized loss position 12 months or more - fair value | 1,269 | 807 |
Total unrealized loss | (19) | (29) |
Total fair value | 1,856 | 3,117 |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (2) | (30) |
Unrealized loss position less than 12 months - fair value | 445 | 3,477 |
Unrealized loss position 12 months or more - unrealized loss | (24) | (18) |
Unrealized loss position 12 months or more - fair value | 1,629 | 494 |
Total unrealized loss | (26) | (48) |
Total fair value | 2,074 | 3,971 |
State and Municipal [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (1) | (3) |
Unrealized loss position less than 12 months - fair value | 207 | 326 |
Unrealized loss position 12 months or more - unrealized loss | (2) | (2) |
Unrealized loss position 12 months or more - fair value | 123 | 60 |
Total unrealized loss | (3) | (5) |
Total fair value | 330 | 386 |
Other Debt Securities [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (1) | (8) |
Unrealized loss position less than 12 months - fair value | 195 | 759 |
Unrealized loss position 12 months or more - unrealized loss | (2) | (4) |
Unrealized loss position 12 months or more - fair value | 125 | 188 |
Total unrealized loss | (3) | (12) |
Total fair value | 320 | 947 |
Corporate Stocks And Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Unrealized loss position less than 12 months - unrealized loss | (0.5) | |
Unrealized loss position less than 12 months - fair value | 46 | |
Unrealized loss position 12 months or more - unrealized loss | (0.5) | (1) |
Unrealized loss position 12 months or more - fair value | 16 | 15 |
Total unrealized loss | (0.5) | (1) |
Total fair value | $ 16 | $ 61 |
Investment Securities (Gains (L
Investment Securities (Gains (Losses) on Sales of Securities Available for Sale) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Investment Securities Disclosure [Abstract] | ||
Proceeds | $ 2,546 | $ 3,445 |
Gross Gains | 20 | 54 |
Gross Losses | (13) | |
Net Gains | 20 | 41 |
Tax Expense | $ 7 | $ 14 |
Investment Securities (Contract
Investment Securities (Contractual Maturity of Debt Securities) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, amortized cost | $ 60,670 | $ 55,269 |
Available-for-sale Securities, Fair value, Total | 61,941 | 55,760 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 709 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 9,852 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 9,600 | |
Available for Sale Securities, Amortized Cost, After 10 years | 39,984 | |
Securities available for sale, amortized cost | 60,145 | 54,679 |
Available-for-sale Securities, Fair value, 1 year or less | 714 | |
Available-for-sale Securities, Fair value, After 1 year through 5 years | 10,004 | |
Available-for-sale Securities, Fair value, After 5 years through 10 years | 9,739 | |
Available-for-sale Securities, Fair value, After 10 years | 40,959 | |
Available-for-sale Securities, Fair value, Total | $ 61,416 | 55,171 |
Weighted-average yield, GAAP basis, available for sale securities | 2.62% | |
Held to Maturity Securities, Amortized Cost, 1 year or less | $ 175 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 940 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 2,229 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 13,229 | |
Held to Maturity Securities, Amortized Cost, Total | 16,573 | 14,768 |
Held-to-maturity Securities, Fair Value, 1 year or less | 175 | |
Held-to-maturity Securities, Fair Value, After 1 year through 5 years | 979 | |
Held-to-maturity Securities, Fair Value, After 5 years through 10 years | 2,328 | |
Held-to-maturity Securities, Fair Value, After 10 years | 13,631 | |
Held-to-maturity Securities, Debt Maturities, Fair Value, Total | $ 17,113 | $ 15,002 |
Weighted-average yield, GAAP basis, held to maturity securities | 3.48% | |
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 | 2.74% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.29% | |
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 | 2.17% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.60% | |
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 | 2.08% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.03% | |
After Ten Years [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Weighted-average yield, GAAP basis, available for sale securities | 2.87% | |
Weighted-average yield, GAAP basis, held to maturity securities | 3.55% | |
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 | $ 404 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 5,251 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 5,244 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,163 | |
Securities available for sale, amortized cost | 12,062 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 265 | |
Held to Maturity Securities, Amortized Cost, Total | 265 | |
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 | 137 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 912 | |
Available for Sale Securities, Amortized Cost, After 10 years | 26,380 | |
Securities available for sale, amortized cost | 27,429 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 10 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 500 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 11,127 | |
Held to Maturity Securities, Amortized Cost, Total | 11,637 | |
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 | 2 | |
Available for Sale Securities, Amortized Cost, After 10 years | 3,370 | |
Securities available for sale, amortized cost | 3,372 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 204 | |
Held to Maturity Securities, Amortized Cost, Total | 204 | |
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 | 78 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 44 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 828 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,351 | |
Securities available for sale, amortized cost | 2,301 | |
Held to Maturity Securities, Amortized Cost, 1 year or less | 164 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 827 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 5 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 55 | |
Held to Maturity Securities, Amortized Cost, Total | 1,051 | |
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, After 1 year through 5 years | 17 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 8 | |
Available for Sale Securities, Amortized Cost, After 10 years | 4,158 | |
Securities available for sale, amortized cost | 4,183 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 579 | |
Held to Maturity Securities, Amortized Cost, Total | 579 | |
Asset backed [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale Securities, Amortized Cost, 1 year or less | 12 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 2,104 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 1,987 | |
Available for Sale Securities, Amortized Cost, After 10 years | 2,020 | |
Securities available for sale, amortized cost | 6,123 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 1 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 688 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 110 | |
Held to Maturity Securities, Amortized Cost, Total | 799 | |
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 | 2 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 146 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 383 | |
Available for Sale Securities, Amortized Cost, After 10 years | 1,432 | |
Securities available for sale, amortized cost | 1,963 | |
Held to Maturity Securities, Amortized Cost, 1 year or less | 4 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 69 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 1,008 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 839 | |
Held to Maturity Securities, Amortized Cost, Total | 1,920 | |
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 | 213 | |
Available for Sale Securities, Amortized Cost, After 1 year through 5 years | 2,151 | |
Available for Sale Securities, Amortized Cost, After 5 years through 10 years | 238 | |
Available for Sale Securities, Amortized Cost, After 10 years | 110 | |
Securities available for sale, amortized cost | 2,712 | |
Held to Maturity Securities, Amortized Cost, 1 year or less | 7 | |
Held to Maturity Securities, Amortized Cost, After 1 year through 5 years | 33 | |
Held to Maturity Securities, Amortized Cost, After 5 years through 10 years | 28 | |
Held to Maturity Securities, Amortized Cost, After 10 years | 50 | |
Held to Maturity Securities, Amortized Cost, Total | $ 118 |
Investment Securities (Fair Val
Investment Securities (Fair Value of Securities Pledged and Accepted as Collateral) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Investment Securities Disclosure [Abstract] | ||
Pledged to others | $ 9,991 | $ 9,674 |
Permitted by contract or custom to sell or repledge | 655 | 1,100 |
Permitted amount repledged to others | $ 499 | $ 943 |
Fair Value (Recurring Fair Valu
Fair Value (Recurring Fair Value Measurements) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Assets | ||
Securities available for sale, fair value | $ 61,941,000,000 | $ 55,760,000,000 |
Trading securities | 2,612,000,000 | 1,726,000,000 |
Mortgage servicing rights | 1,293,000,000 | 1,589,000,000 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 61,416,000,000 | 55,171,000,000 |
Securities available for sale, fair value | 61,941,000,000 | 55,760,000,000 |
Total financial derivatives | 7,147,000,000 | 4,941,000,000 |
Trading securities | 2,612,000,000 | 1,726,000,000 |
Total customer resale agreements | 136,000,000 | 137,000,000 |
Loans | 874,000,000 | 905,000,000 |
Other assets | 677,000,000 | 817,000,000 |
Total Assets | 78,010,000,000 | 68,804,000,000 |
Liabilities | ||
Total financial derivatives | 5,407,000,000 | 3,802,000,000 |
Total trading securities sold short | 535,000,000 | 987,000,000 |
Other borrowed funds | 78,000,000 | 93,000,000 |
Other liabilities | 20,000,000 | 10,000,000 |
Total liabilities | 6,040,000,000 | 4,892,000,000 |
US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 12,350,000,000 | 9,874,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 27,979,000,000 | 24,820,000,000 |
Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,537,000,000 | 4,151,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,318,000,000 | 1,918,000,000 |
Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,233,000,000 | 4,903,000,000 |
Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 6,163,000,000 | 5,423,000,000 |
State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,067,000,000 | 2,056,000,000 |
Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,769,000,000 | 2,026,000,000 |
Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 525,000,000 | 589,000,000 |
Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 6,752,000,000 | 4,655,000,000 |
Liabilities | ||
Total financial derivatives | 4,839,000,000 | 3,132,000,000 |
BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 221,000,000 | 357,000,000 |
Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 395,000,000 | 286,000,000 |
Liabilities | ||
Total financial derivatives | 347,000,000 | 313,000,000 |
Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,127,000,000 | 843,000,000 |
Mortgage servicing rights | 820,000,000 | 1,063,000,000 |
Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 860,000,000 | 641,000,000 |
Mortgage servicing rights | 473,000,000 | 526,000,000 |
Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Equity investments - direct investments | 1,075,000,000 | 1,098,000,000 |
Fair Value Additional Information [Abstract] | ||
Direct Investments - Unfunded Commitments | 21,000,000 | 23,000,000 |
Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Equity investments - indirect investments | 268,000,000 | 347,000,000 |
Fair Value Additional Information [Abstract] | ||
Indirect Investments - Unfunded Commitments | $ 107,000,000 | 103,000,000 |
Indirect Investments - Estimated remaining liquidation period | 12 years | |
BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | $ 221,000,000 | 357,000,000 |
Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 456,000,000 | 460,000,000 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 2,602,000,000 | 1,717,000,000 |
Liabilities | ||
Total trading securities sold short | 535,000,000 | 987,000,000 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 10,000,000 | 9,000,000 |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 11,740,000,000 | 9,267,000,000 |
Securities available for sale, fair value | 12,202,000,000 | 9,794,000,000 |
Trading securities | 836,000,000 | 996,000,000 |
Other assets | 263,000,000 | 254,000,000 |
Total Assets | 13,301,000,000 | 11,044,000,000 |
Liabilities | ||
Total financial derivatives | 1,000,000 | |
Total trading securities sold short | 505,000,000 | 960,000,000 |
Total liabilities | 505,000,000 | 961,000,000 |
Level 1 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 11,740,000,000 | 9,267,000,000 |
Level 1 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 462,000,000 | 527,000,000 |
Level 1 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 1,000,000 | |
Level 1 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 263,000,000 | 254,000,000 |
Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 826,000,000 | 987,000,000 |
Liabilities | ||
Total trading securities sold short | 505,000,000 | 960,000,000 |
Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 10,000,000 | 9,000,000 |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 45,803,000,000 | 41,369,000,000 |
Securities available for sale, fair value | 45,866,000,000 | 41,431,000,000 |
Total financial derivatives | 7,095,000,000 | 4,910,000,000 |
Trading securities | 1,774,000,000 | 727,000,000 |
Total customer resale agreements | 136,000,000 | 137,000,000 |
Loans | 550,000,000 | 565,000,000 |
Other assets | 187,000,000 | 199,000,000 |
Total Assets | 56,732,000,000 | 48,807,000,000 |
Liabilities | ||
Total financial derivatives | 5,013,000,000 | 3,328,000,000 |
Total trading securities sold short | 30,000,000 | 27,000,000 |
Other borrowed funds | 68,000,000 | 81,000,000 |
Total liabilities | 5,111,000,000 | 3,436,000,000 |
Level 2 [Member] | US Treasury and Government Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 610,000,000 | 607,000,000 |
Level 2 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 27,979,000,000 | 24,820,000,000 |
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 | 143,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,318,000,000 | 1,918,000,000 |
Level 2 [Member] | Commercial mortgage-backed securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 4,233,000,000 | 4,903,000,000 |
Level 2 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 5,738,000,000 | 4,941,000,000 |
Level 2 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,053,000,000 | 2,041,000,000 |
Level 2 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 2,748,000,000 | 1,996,000,000 |
Level 2 [Member] | Corporate Stocks And Other [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale, fair value | 63,000,000 | 62,000,000 |
Level 2 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 6,703,000,000 | 4,626,000,000 |
Liabilities | ||
Total financial derivatives | 4,830,000,000 | 3,124,000,000 |
Level 2 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 392,000,000 | 284,000,000 |
Liabilities | ||
Total financial derivatives | 183,000,000 | 204,000,000 |
Level 2 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 1,124,000,000 | 838,000,000 |
Level 2 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 187,000,000 | 199,000,000 |
Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | 1,774,000,000 | 727,000,000 |
Liabilities | ||
Total trading securities sold short | 30,000,000 | 27,000,000 |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,873,000,000 | 4,535,000,000 |
Securities available for sale, fair value | 3,873,000,000 | 4,535,000,000 |
Total financial derivatives | 52,000,000 | 31,000,000 |
Trading securities | 2,000,000 | 3,000,000 |
Loans | 324,000,000 | 340,000,000 |
Other assets | 227,000,000 | 364,000,000 |
Total Assets | 7,929,000,000 | 8,606,000,000 |
Liabilities | ||
Total financial derivatives | 394,000,000 | 473,000,000 |
Other borrowed funds | 10,000,000 | 12,000,000 |
Other liabilities | 20,000,000 | 10,000,000 |
Total liabilities | 424,000,000 | 495,000,000 |
Level 3 [Member] | Residential mortgage-backed Securities [Member] | Mortgage-backed Securities Non-agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 3,413,000,000 | 4,008,000,000 |
Level 3 [Member] | Asset backed [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 425,000,000 | 482,000,000 |
Level 3 [Member] | State and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 14,000,000 | 15,000,000 |
Level 3 [Member] | Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total debt securities | 21,000,000 | 30,000,000 |
Level 3 [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 49,000,000 | 29,000,000 |
Liabilities | ||
Total financial derivatives | 9,000,000 | 7,000,000 |
Level 3 [Member] | BlackRock LTIP [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liabilities | ||
Total financial derivatives | 221,000,000 | 357,000,000 |
Level 3 [Member] | Other Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Total financial derivatives | 3,000,000 | 2,000,000 |
Liabilities | ||
Total financial derivatives | 164,000,000 | 109,000,000 |
Level 3 [Member] | Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 3,000,000 | 5,000,000 |
Mortgage servicing rights | 820,000,000 | 1,063,000,000 |
Level 3 [Member] | Commercial Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Loans held for sale | 860,000,000 | 641,000,000 |
Mortgage servicing rights | 473,000,000 | 526,000,000 |
Level 3 [Member] | Direct equity investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Equity investments - direct investments | 1,075,000,000 | 1,098,000,000 |
Level 3 [Member] | Indirect Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Equity investments - indirect investments | 220,000,000 | |
Level 3 [Member] | BlackRock Series C Preferred Stock | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 221,000,000 | 357,000,000 |
Level 3 [Member] | Other Assets [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Other assets | 6,000,000 | 7,000,000 |
Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Trading securities | $ 2,000,000 | $ 3,000,000 |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ 8,188 | $ 9,294 | $ 8,606 | $ 9,788 |
Included in earnings | 166 | (98) | (31) | 253 |
Included in other comprehensive income | 40 | (8) | 2 | (22) |
Purchases | 113 | 254 | 416 | 646 |
Sales | (1,474) | (964) | (3,170) | (3,371) |
Issuances | 1,243 | 911 | 3,065 | 3,074 |
Settlements | (340) | (391) | (1,156) | (1,338) |
Transfers Into Level 3 | 5 | 12 | 243 | 25 |
Transfers Out of Level 3 | (12) | (32) | (46) | (77) |
Ending Balance | 7,929 | 8,978 | 7,929 | 8,978 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 114 | (137) | (162) | 48 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 406 | 673 | 495 | 716 |
Included in earnings | 21 | (53) | 91 | (23) |
Sales | 1 | 4 | 1 | |
Issuances | 66 | 23 | 178 | 69 |
Settlements | (70) | (128) | (344) | (248) |
Ending Balance | 424 | 515 | 424 | 515 |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | 25 | (57) | 92 | (69) |
Fair Value Additional Information [Abstract] | ||||
Net gains (losses) included in earnings (realized and unrealized) relating to Level 3 assets and liabilities | 145 | (45) | (122) | 276 |
Net unrealized gains (losses) relating to Level 3 assets and liabilities | 89 | (80) | (254) | 117 |
Available-for-sale Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 4,041 | 5,004 | 4,535 | 5,525 |
Included in earnings | 30 | 35 | 69 | 110 |
Included in other comprehensive income | 40 | (8) | 4 | (22) |
Purchases | 1 | 8 | 10 | 11 |
Sales | (14) | (5) | (78) | (5) |
Settlements | (225) | (262) | (667) | (847) |
Ending Balance | 3,873 | 4,772 | 3,873 | 4,772 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1) | (1) | (2) | |
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 | 3,557 | 4,424 | 4,008 | 4,798 |
Included in earnings | 25 | 30 | 58 | 85 |
Included in other comprehensive income | 32 | (9) | 4 | (31) |
Sales | (60) | |||
Settlements | (201) | (230) | (597) | (637) |
Ending Balance | 3,413 | 4,215 | 3,413 | 4,215 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | (1) | (1) | ||
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 | 436 | 531 | 482 | 563 |
Included in earnings | 4 | 5 | 10 | 16 |
Included in other comprehensive income | 8 | 2 | 11 | |
Settlements | (23) | (27) | (67) | (79) |
Ending Balance | 425 | 511 | 425 | 511 |
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 | 15 | 16 | 15 | 134 |
Included in other comprehensive income | (1) | |||
Settlements | (1) | (1) | (117) | |
Ending Balance | 14 | 16 | 14 | 16 |
Available-for-sale Securities [Member] | Other debt [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 33 | 33 | 30 | 30 |
Included in earnings | 1 | 1 | 1 | |
Included in other comprehensive income | (1) | (1) | ||
Purchases | 1 | 8 | 10 | 11 |
Sales | (14) | (5) | (18) | (5) |
Settlements | (5) | (2) | (6) | |
Ending Balance | 21 | 30 | 21 | 30 |
Financial Derivatives [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 51 | 36 | 31 | 42 |
Included in earnings | 37 | 39 | 106 | 126 |
Purchases | 1 | 1 | ||
Settlements | (36) | (30) | (86) | (124) |
Ending Balance | 52 | 45 | 52 | 45 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 34 | 48 | 101 | 115 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 385 | 498 | 473 | 526 |
Included in earnings | 21 | (54) | 90 | (28) |
Sales | 1 | 4 | 1 | |
Settlements | (13) | (1) | (173) | (56) |
Ending Balance | 394 | 443 | 394 | 443 |
Unrealized gains or (losses) on liabilities held on Consolidated Balance Sheet | 25 | (57) | 92 | (69) |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 6 | 10 | 5 | 6 |
Included in earnings | 1 | 1 | ||
Purchases | 3 | 4 | 9 | 21 |
Sales | (1) | (1) | (2) | (3) |
Settlements | (1) | |||
Transfers Into Level 3 | 3 | 2 | 8 | 4 |
Transfers Out of Level 3 | (8) | (11) | (17) | (23) |
Ending Balance | 3 | 5 | 3 | 5 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 1 | |||
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 981 | 757 | 641 | 893 |
Included in earnings | 18 | 19 | 55 | 63 |
Sales | (1,343) | (846) | (2,797) | (3,081) |
Issuances | 1,205 | 874 | 2,981 | 2,965 |
Settlements | (1) | (2) | (20) | (38) |
Ending Balance | 860 | 802 | 860 | 802 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 6 | 7 | 4 | 3 |
Trading Securities - Debt [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 2 | 3 | 3 | 32 |
Settlements | (1) | (29) | ||
Ending Balance | 2 | 3 | 2 | 3 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 774 | 1,015 | 1,063 | 845 |
Included in earnings | 23 | (137) | (316) | (69) |
Purchases | 49 | 111 | 154 | 261 |
Issuances | 16 | 23 | 39 | 61 |
Settlements | (42) | (50) | (120) | (136) |
Ending Balance | 820 | 962 | 820 | 962 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 23 | (136) | (308) | (69) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 448 | 543 | 526 | 506 |
Included in earnings | 8 | (44) | (56) | (26) |
Purchases | 16 | 15 | 25 | 43 |
Issuances | 22 | 14 | 45 | 48 |
Settlements | (21) | (23) | (67) | (66) |
Ending Balance | 473 | 505 | 473 | 505 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 8 | (44) | (56) | (26) |
Equity Investments [Member] | Direct equity investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 1,120 | 1,191 | 1,098 | 1,152 |
Included in earnings | 19 | 36 | 85 | 92 |
Purchases | 17 | 87 | 135 | 225 |
Sales | (81) | (99) | (243) | (254) |
Ending Balance | 1,075 | 1,215 | 1,075 | 1,215 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 21 | 39 | 84 | 79 |
Equity Investments [Member] | Indirect Equity Investments [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 233 | |||
Included in earnings | 16 | 16 | ||
Sales | (31) | (31) | ||
Transfers Into Level 3 | 2 | 235 | ||
Ending Balance | 220 | 220 | ||
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 9 | 9 | ||
Loans [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 317 | 365 | 340 | 397 |
Included in earnings | 3 | 4 | 6 | 19 |
Purchases | 27 | 29 | 82 | 84 |
Sales | (4) | (13) | (18) | (21) |
Settlements | (15) | (24) | (57) | (96) |
Transfers Into Level 3 | 10 | 21 | ||
Transfers Out of Level 3 | (4) | (21) | (29) | (54) |
Ending Balance | 324 | 350 | 324 | 350 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 1 | 1 | 3 | 10 |
Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 215 | 370 | 364 | 390 |
Included in earnings | 12 | (51) | 4 | (63) |
Included in other comprehensive income | (2) | |||
Sales | (1) | (7) | ||
Settlements | (138) | (1) | ||
Ending Balance | 227 | 319 | 227 | 319 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 12 | (51) | 2 | (63) |
Other Assets [Member] | BlackRock Series C Preferred Stock | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 209 | 363 | 357 | 375 |
Included in earnings | 12 | (51) | 2 | (63) |
Settlements | (138) | |||
Ending Balance | 221 | 312 | 221 | 312 |
Unrealized gains or (losses) on assets held on Consolidated Balance Sheet | 12 | (51) | 2 | (63) |
Other Assets [Member] | Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 6 | 7 | 7 | 15 |
Included in earnings | 2 | |||
Included in other comprehensive income | (2) | |||
Sales | (1) | (7) | ||
Settlements | (1) | |||
Ending Balance | 6 | 7 | 6 | 7 |
Other Borrowed Funds [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 8 | 165 | 12 | 181 |
Included in earnings | 1 | 4 | ||
Issuances | 24 | 23 | 64 | 69 |
Settlements | (22) | (127) | (66) | (192) |
Ending Balance | 10 | 62 | 10 | 62 |
Other Liabilities | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 13 | 10 | 10 | 9 |
Included in earnings | 1 | 1 | ||
Issuances | 42 | 114 | ||
Settlements | (35) | (105) | ||
Ending Balance | $ 20 | $ 10 | $ 20 | $ 10 |
Fair Value (Fair Value Measurem
Fair Value (Fair Value Measurements- Recurring Quantitative Information) (Details) - Fair Value, Measurements, Recurring [Member] - Level 3 [Member] - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 7,900,000,000 | $ 8,600,000,000 |
Recurring Liabilities - Fair Value | 400,000,000 | 500,000,000 |
Total Recurring Assets Net of Recurring Liabilities - Fair Value | 7,505,000,000 | 8,111,000,000 |
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 | $ 3,413,000,000 | $ 4,008,000,000 |
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% | 10.00% |
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] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Constant prepayment rate (CPR) | 24.20% | 24.20% |
Constant default rate (CDR) | 16.70% | 16.70% |
Loss Severity | 98.50% | 98.50% |
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) | 7.20% | 7.00% |
Constant default rate (CDR) | 5.40% | 5.40% |
Loss Severity | 53.20% | 53.30% |
Spread over the benchmark curve | 2.60% | 2.41% |
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 | $ 2,900,000,000 | $ 3,400,000,000 |
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 | 518,000,000 | 629,000,000 |
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 | $ 425,000,000 | $ 482,000,000 |
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) | 2.00% | 1.70% |
Loss Severity | 24.20% | 24.20% |
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) | 15.00% | 14.00% |
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) | 6.30% | 6.30% |
Constant default rate (CDR) | 6.60% | 6.80% |
Loss Severity | 78.00% | 77.50% |
Spread over the benchmark curve | 3.33% | 3.24% |
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 | $ 400,000,000 | $ 400,000,000 |
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 | 28,000,000 | 34,000,000 |
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 | $ 820,000,000 | $ 1,063,000,000 |
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) | 0.00% | 0.30% |
Spread over the benchmark curve | 1.95% | 5.59% |
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) | 41.30% | 46.50% |
Spread over the benchmark curve | 18.71% | 18.83% |
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) | 18.30% | 10.60% |
Spread over the benchmark curve | 8.47% | 8.93% |
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 | $ 473,000,000 | $ 526,000,000 |
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) | 6.10% | 3.90% |
Discount rate | 5.10% | 2.60% |
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) | 45.60% | 26.50% |
Discount rate | 7.70% | 7.70% |
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) | 7.80% | 5.70% |
Discount rate | 7.50% | 7.50% |
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 | $ 860,000,000 | $ 641,000,000 |
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 | 0.66% | 0.85% |
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 | 12.20% | 42.70% |
Estimated servicing cash flows | 4.70% | 7.00% |
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 | 5.27% | 5.47% |
Estimated servicing cash flows | 1.40% | 0.90% |
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 | $ 1,075,000,000 | $ 1,098,000,000 |
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 | 4.1 | 4.2 |
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 | 12 | 14.1 |
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 | 7.6 | 7.6 |
Equity Investments [Member] | Indirect Equity Investments [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 220,000,000 | |
Equity Investments [Member] | Indirect Equity Investments [Member] | Consensus Pricing [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 0.00% | |
Equity Investments [Member] | Indirect Equity Investments [Member] | Consensus Pricing [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liquidity Discount | 40.00% | |
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 | $ 114,000,000 | $ 116,000,000 |
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 | 3.90% | 3.90% |
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 | $ 127,000,000 | $ 123,000,000 |
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 | 11.00% | 2.00% |
Discount rate | 4.70% | 4.90% |
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 | 6.70% | 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 | 24.40% | 27.30% |
Cumulative default rate | 88.00% | 85.10% |
Discount rate | 5.10% | 5.20% |
Loans - Home equity [Member] | Consensus Pricing [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 83,000,000 | $ 101,000,000 |
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 | 0.00% | 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 | 57.00% | 54.00% |
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 | $ 221,000,000 | $ 357,000,000 |
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 | $ 221,000,000 | $ 357,000,000 |
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 | $ 156,000,000 | $ 104,000,000 |
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 growth rate of Visa Class A share price | 14.00% | 16.30% |
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 growth rate of Visa Class A share price | 14.00% | 16.30% |
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 | 164.40% | 164.30% |
Estimated growth rate of Visa Class A share price | 14.00% | 16.30% |
Insignificant Assets, Net of Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring Assets - Fair Value | $ 51,000,000 | $ 57,000,000 |
Fair Value (Nonrecurring Fair V
Fair Value (Nonrecurring Fair Value Measurements) (Details) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | $ 307,000,000 | $ 307,000,000 | $ 195,000,000 | ||
Nonrecurring Assets - Gains (Losses) | (38,000,000) | $ (49,000,000) | (101,000,000) | $ (82,000,000) | |
Nonaccrual Loans [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 180,000,000 | 180,000,000 | 30,000,000 | ||
Nonrecurring Assets - Gains (Losses) | (32,000,000) | (41,000,000) | (81,000,000) | (48,000,000) | |
OREO and Foreclosed Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | 108,000,000 | 108,000,000 | 137,000,000 | ||
Nonrecurring Assets - Gains (Losses) | (6,000,000) | (6,000,000) | (15,000,000) | (18,000,000) | |
Insignificant Assets | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Nonrecurring Assets - Fair Value | $ 19,000,000 | 19,000,000 | $ 28,000,000 | ||
Nonrecurring Assets - Gains (Losses) | $ (2,000,000) | $ (5,000,000) | $ (16,000,000) |
Fair Value (Fair Value Measur62
Fair Value (Fair Value Measurements- Nonrecurring Quantitative Information) (Details) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 307,000,000 | $ 195,000,000 |
Nonaccrual Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 180,000,000 | 30,000,000 |
Nonaccrual Loans [Member] | LGD percentage [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 126,000,000 | $ 20,000,000 |
Nonaccrual Loans [Member] | LGD percentage [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 5.40% | 8.10% |
Nonaccrual Loans [Member] | LGD percentage [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 77.80% | 73.30% |
Nonaccrual Loans [Member] | LGD percentage [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loss Severity | 35.30% | 58.60% |
Nonaccrual Loans [Member] | Fair Value Of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 54,000,000 | $ 10,000,000 |
OREO and Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 108,000,000 | 137,000,000 |
OREO and Foreclosed Assets [Member] | Fair Value Of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | 108,000,000 | 137,000,000 |
Insignificant Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring Assets - Fair Value | $ 19,000,000 | $ 28,000,000 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Customer Resale Agreements [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | $ (1) | $ (1) | $ (1) | $ (1) |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 16 | 25 | 65 | 81 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 55 | 56 | 161 | 127 |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | 7 | 8 | 24 | 37 |
BlackRock Series C Preferred Stock | ||||
Gains (Losses) - FVO: Changes in Fair Value | 12 | (51) | 2 | (63) |
Other Assets [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | $ 15 | $ (5) | 2 | |
Other borrowed funds [Member] | ||||
Gains (Losses) - FVO: Changes in Fair Value | $ (2) | $ (4) |
Fair Value (Fair Value Option64
Fair Value (Fair Value Option - Fair Value and Principal Balances) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Customer Resale Agreements [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | $ 136 | $ 137 |
Aggregate Unpaid Principal Balance - Assets | 133 | 133 |
Difference - Assets | 3 | 4 |
Loans Held For Sale [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,127 | 843 |
Aggregate Unpaid Principal Balance - Assets | 1,077 | 816 |
Difference - Assets | 50 | 27 |
Loans Held For Sale [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 860 | 641 |
Aggregate Unpaid Principal Balance - Assets | 874 | 662 |
Difference - Assets | (14) | (21) |
Loans Held For Sale [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 1,122 | 832 |
Aggregate Unpaid Principal Balance - Assets | 1,071 | 804 |
Difference - Assets | 51 | 28 |
Loans Held For Sale [Member] | Performing Loans [Member] | Commercial Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 855 | 639 |
Aggregate Unpaid Principal Balance - Assets | 865 | 659 |
Difference - Assets | (10) | (20) |
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 | 1 | 4 |
Aggregate Unpaid Principal Balance - Assets | 1 | 4 |
Loans Held For Sale [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 4 | 7 |
Aggregate Unpaid Principal Balance - Assets | 5 | 8 |
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 | 5 | 2 |
Aggregate Unpaid Principal Balance - Assets | 9 | 3 |
Difference - Assets | (4) | (1) |
Loans - Portfolio [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 874 | 905 |
Aggregate Unpaid Principal Balance - Assets | 1,050 | 1,099 |
Difference - Assets | (176) | (194) |
Loans - Portfolio [Member] | Performing Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 231 | 204 |
Aggregate Unpaid Principal Balance - Assets | 276 | 260 |
Difference - Assets | (45) | (56) |
Loans - Portfolio [Member] | Accruing loans 90 days or more past due | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 420 | 475 |
Aggregate Unpaid Principal Balance - Assets | 420 | 478 |
Difference - Assets | (3) | |
Loans - Portfolio [Member] | Nonaccrual Loans [Member] | Residential Mortgage [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 223 | 226 |
Aggregate Unpaid Principal Balance - Assets | 354 | 361 |
Difference - Assets | (131) | (135) |
Other Assets [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Assets | 163 | 164 |
Aggregate Unpaid Principal Balance - Assets | 164 | 159 |
Difference - Assets | (1) | 5 |
Other Borrowed Funds [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value - Liabilities | 78 | 93 |
Aggregate Unpaid Principal Balance - Liabilities | 80 | 95 |
Difference - Liabilities | $ (2) | $ (2) |
Fair Value (Additional Fair Val
Fair Value (Additional Fair Value Information Related To Financial Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Carrying Amount [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | $ 4,531 | $ 4,065 |
Short-term assets | 29,125 | 32,959 |
Securities held to maturity | 16,573 | 14,768 |
Loans held for sale | 66 | 56 |
Net loans (excludes leases) | 199,570 | 195,579 |
Other assets | 1,748 | 1,817 |
Total assets | 251,613 | 249,244 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 51,222 | 53,761 |
Unfunded loan commitments and letters of credit | 289 | 245 |
Other Liabilities | 67 | |
Total liabilities | 311,473 | 303,008 |
Carrying Amount [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 241,146 | 228,492 |
Carrying Amount [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 18,749 | 20,510 |
Fair Value [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 4,531 | 4,065 |
Short-term assets | 29,125 | 32,959 |
Securities held to maturity | 17,113 | 15,002 |
Loans held for sale | 65 | 56 |
Net loans (excludes leases) | 202,758 | 197,611 |
Other assets | 2,225 | 2,408 |
Total assets | 255,817 | 252,101 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 52,073 | 54,002 |
Unfunded loan commitments and letters of credit | 289 | 245 |
Other Liabilities | 67 | |
Total liabilities | 312,381 | 303,210 |
Fair Value [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 241,146 | 228,492 |
Fair Value [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 18,806 | 20,471 |
Fair Value [Member] | Level 1 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Cash and due from banks | 4,531 | 4,065 |
Securities held to maturity | 330 | 298 |
Total assets | 4,861 | 4,363 |
Fair Value [Member] | Level 2 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Short-term assets | 29,125 | 32,959 |
Securities held to maturity | 16,669 | 14,698 |
Loans held for sale | 47 | 22 |
Other assets | 1,731 | 1,786 |
Total assets | 47,572 | 49,465 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 50,616 | 52,578 |
Other Liabilities | 67 | |
Total liabilities | 310,635 | 301,541 |
Fair Value [Member] | Level 2 [Member] | Demand, savings and money market deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 241,146 | 228,492 |
Fair Value [Member] | Level 2 [Member] | Time deposits [Member] | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Deposits | 18,806 | 20,471 |
Fair Value [Member] | Level 3 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings | ||
Securities held to maturity | 114 | 6 |
Loans held for sale | 18 | 34 |
Net loans (excludes leases) | 202,758 | 197,611 |
Other assets | 494 | 622 |
Total assets | 203,384 | 198,273 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings | ||
Borrowed funds | 1,457 | 1,424 |
Unfunded loan commitments and letters of credit | 289 | 245 |
Total liabilities | $ 1,746 | $ 1,669 |
Goodwill and Other Intangible66
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Mortgage servicing rights | $ 1,293,000,000 | $ 1,293,000,000 | $ 1,589,000,000 | ||
Fees from Mortgage and Other Loan Servicing | $ 100,000,000 | $ 100,000,000 | $ 400,000,000 | $ 400,000,000 |
Goodwill and Other Intangible67
Goodwill and Other Intangible Assets (Mortgage Servicing Rights) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | $ 1,589,000,000 | |
Mortgage servicing rights, ending balance | 1,293,000,000 | |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 1,063,000,000 | $ 845,000,000 |
Mortgage servicing rights, ending balance | 820,000,000 | 962,000,000 |
Unpaid principal balance of loans serviced for others at end of period | 126,189,000,000 | 121,680,000,000 |
Servicing Advances | 322,000,000 | 431,000,000 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (120,000,000) | (136,000,000) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (316,000,000) | (69,000,000) |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 39,000,000 | 61,000,000 |
Mortgage Servicing Rights [Member] | Residential Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 154,000,000 | 261,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Mortgage servicing rights, beginning balance | 526,000,000 | 506,000,000 |
Mortgage servicing rights, ending balance | 473,000,000 | 505,000,000 |
Unpaid principal balance of loans serviced for others at end of period | 139,976,000,000 | 143,915,000,000 |
Servicing Advances | 251,000,000 | 277,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Time and Payoffs [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (67,000,000) | (66,000,000) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Other [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Changes in Fair Value | (56,000,000) | (26,000,000) |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | From loans sold with servicing retained [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | 45,000,000 | 48,000,000 |
Mortgage Servicing Rights [Member] | Commercial Mortgage [Member] | Purchases [Member] | ||
Servicing Assets At Fair Value [Line Items] | ||
Additions | $ 25,000,000 | $ 43,000,000 |
Goodwill and Other Intangible68
Goodwill and Other Intangible Assets (Commercial and Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions) (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
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 | $ 1,293,000,000 | $ 1,589,000,000 | ||
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 | $ 473,000,000 | $ 526,000,000 | $ 505,000,000 | $ 506,000,000 |
Weighted-average life | 4 years 5 months | 4 years 8 months | ||
Constant prepayment rate (CPR) | 7.75% | 5.71% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 10,000,000 | $ 10,000,000 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 20,000,000 | $ 19,000,000 | ||
Discount rate | 7.53% | 7.49% | ||
Decline in fair value from 10% adverse change in interest rate | $ 12,000,000 | $ 14,000,000 | ||
Decline in fair value from 20% adverse change in interest rate | 24,000,000 | 29,000,000 | ||
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 | $ 820,000,000 | $ 1,063,000,000 | $ 962,000,000 | $ 845,000,000 |
Weighted-average life | 4 years 3 months | 6 years 4 months | ||
Constant prepayment rate (CPR) | 18.28% | 10.61% | ||
Decline in fair value from 10% adverse change in prepayment rate | $ 50,000,000 | $ 44,000,000 | ||
Decline in fair value from 20% adverse change in prepayment rate | $ 94,000,000 | $ 85,000,000 | ||
Spread over the benchmark curve | 8.47% | 8.93% | ||
Decline in fair value from 10% adverse change in adjusted spread | $ 23,000,000 | $ 34,000,000 | ||
Decline in fair value from 20% adverse change in adjusted spread | $ 44,000,000 | $ 67,000,000 |
Employee Benefit Plans (Net Per
Employee Benefit Plans (Net Periodic Pension and Postretirement Benefits Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Qualified Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 26 | $ 27 | $ 77 | $ 80 |
Interest cost | 46 | 44 | 139 | 133 |
Expected return on plan assets | (70) | (75) | (211) | (223) |
Amortization of prior service cost/(credit) | (2) | (2) | (5) | (6) |
Amortization of actuarial losses | 12 | 8 | 34 | 23 |
Net periodic cost/(benefit) | 12 | 2 | 34 | 7 |
Nonqualified Retirement Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 2 | 2 |
Interest cost | 3 | 3 | 9 | 9 |
Amortization of actuarial losses | 1 | 2 | 3 | 5 |
Net periodic cost/(benefit) | 5 | 6 | 14 | 16 |
Postretirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 4 | 4 |
Interest cost | 4 | 4 | 11 | 11 |
Expected return on plan assets | (1) | (3) | ||
Amortization of prior service cost/(credit) | (1) | (1) | (1) | |
Net periodic cost/(benefit) | $ 4 | $ 4 | $ 11 | $ 14 |
Financial Derivatives (Narrativ
Financial Derivatives (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Derivative [Line Items] | |||||
Cash And Securities Held To Collateralize Net Derivative Assets | $ 1,200 | $ 1,200 | |||
Cash And Securities Pledged To Collateralize Net Derivative Liabilities | 1,600 | 1,600 | |||
Aggregate fair value of all derivative instruments with credit-risk-related contingent features | 1,300 | 1,300 | |||
Collateral posted on derivative instruments with credit-risk-related contingent features | 1,100 | 1,100 | |||
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 | 200 | |||
Risk Participation Agreements Sold [Member] | |||||
Derivative [Line Items] | |||||
Credit Derivative Maximum Exposure Undiscounted | 181 | 181 | $ 122 | ||
Derivative Liability Notional Amount | 3,900 | $ 3,900 | $ 2,500 | ||
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Maximum length of time over which forecasted loan cash flows are hedged | 5 years | ||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net | (63) | $ 326 | $ 328 | $ 522 | |
Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net | 0 | ||||
Gain Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring Net | $ 0 | 0 | |||
Cash Flow Hedge Ineffectiveness Is Immaterial | Cash flow hedge ineffectiveness was not significant for the periods presented. | ||||
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Pretax [Member] | |||||
Derivative [Line Items] | |||||
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months | $ 199 | ||||
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 | 130 | ||||
Fair Value Hedging [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Gain Loss From Components Excluded From Assessment Of Fair Value Hedge Effectiveness Net | 0 | ||||
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Net | $ 27 | $ 43 | 136 | 32 | |
Gain Loss From Components Excluded From Assessment Of Net Investment Hedge Effectiveness Net | 0 | ||||
Amount Of Ineffectiveness On Net Investment Hedges | $ 0 | $ 0 | |||
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 | 1 month | ||||
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 | $ 56 | ||||
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 | $ 36 |
Financial Derivatives (Total Gr
Financial Derivatives (Total Gross Derivatives) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $ 7,147 | $ 4,941 |
Derivative Liability, Fair Value | 5,407 | 3,802 |
Derivative Notional Amount | 348,787 | 347,976 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,645 | 1,159 |
Derivative Liability, Fair Value | 309 | 174 |
Derivative Notional Amount | 52,466 | 52,074 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 5,502 | 3,782 |
Derivative Liability, Fair Value | 5,098 | 3,628 |
Derivative Notional Amount | $ 296,321 | $ 295,902 |
Financial Derivatives (Derivati
Financial Derivatives (Derivatives Designated As Hedging Instruments Under GAAP) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $ 7,147 | $ 4,941 |
Derivative Liability, Fair Value | 5,407 | 3,802 |
Derivative Notional Amount | 348,787 | 347,976 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1,645 | 1,159 |
Derivative Liability, Fair Value | 309 | 174 |
Derivative Notional Amount | 52,466 | 52,074 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 5,502 | 3,782 |
Derivative Liability, Fair Value | 5,098 | 3,628 |
Derivative Notional Amount | 296,321 | 295,902 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 990 | 712 |
Derivative Liability, Fair Value | 308 | 171 |
Derivative Notional Amount | 33,687 | 31,690 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 989 | 699 |
Derivative Liability, Fair Value | 1 | 18 |
Derivative Notional Amount | 25,972 | 25,756 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Pay Fixed Swaps [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1 | 13 |
Derivative Liability, Fair Value | 307 | 153 |
Derivative Notional Amount | 7,715 | 5,934 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 488 | 416 |
Derivative Liability, Fair Value | 1 | 3 |
Derivative Notional Amount | 17,779 | 19,279 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Receive Fixed Swaps [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 487 | 412 |
Derivative Liability, Fair Value | 1 | 2 |
Derivative Notional Amount | 17,579 | 17,879 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Forward Purchase Commitments [Member] | Interest Rate Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 1 | 4 |
Derivative Liability, Fair Value | 1 | |
Derivative Notional Amount | 200 | 1,400 |
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 167 | 31 |
Derivative Notional Amount | $ 1,000 | $ 1,105 |
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 ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | $ (181) | $ 213 | $ 172 | $ 118 |
Gain (Loss) on Related Hedged Items Recognized in Income | 178 | (229) | (208) | (154) |
Us Treasury And Government And Other Debt Securities [Member] | Investment Securities Interest Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | 51 | (92) | (158) | (80) |
Gain (Loss) on Related Hedged Items Recognized in Income | (53) | 94 | 161 | 82 |
Subordinated debt and Bank notes and senior debt [Member] | Borrowed Funds Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in Income | (232) | 305 | 330 | 198 |
Gain (Loss) on Related Hedged Items Recognized in Income | $ 231 | $ (323) | $ (369) | $ (236) |
Financial Derivatives (Gains 74
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net unrealized gains (losses) on cash flow hedge derivatives | $ (125) | $ 234 | $ 138 | $ 303 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on Derivatives Recognized in OCI (Effective Portion) | (63) | 326 | 328 | 522 |
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 62 | 92 | 190 | 219 |
Net unrealized gains (losses) on cash flow hedge derivatives | (125) | 234 | 138 | 303 |
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) | 61 | 80 | $ 190 | 220 |
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) | $ 1 | $ 12 | $ (1) |
Financial Derivatives (Deriva75
Financial Derivatives (Derivatives Not Designated As Hedging Instruments under GAAP) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative Notional Amount | $ 348,787 | $ 347,976 |
Derivative Asset, Fair Value | 7,147 | 4,941 |
Derivative Liability, Fair Value | 5,407 | 3,802 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 52,466 | 52,074 |
Derivative Asset, Fair Value | 1,645 | 1,159 |
Derivative Liability, Fair Value | 309 | 174 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 296,321 | 295,902 |
Derivative Asset, Fair Value | 5,502 | 3,782 |
Derivative Liability, Fair Value | 5,098 | 3,628 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 72,281 | 73,891 |
Derivative Asset, Fair Value | 1,436 | 823 |
Derivative Liability, Fair Value | 920 | 447 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 63,289 | 65,728 |
Derivative Asset, Fair Value | 1,396 | 789 |
Derivative Liability, Fair Value | 901 | 439 |
Not Designated as Hedging Instrument [Member] | Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 8,992 | 8,163 |
Derivative Asset, Fair Value | 40 | 34 |
Derivative Liability, Fair Value | 19 | 8 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 9,689 | 24,091 |
Derivative Asset, Fair Value | 151 | 88 |
Derivative Liability, Fair Value | 71 | 52 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Credit Risk Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 35 | 77 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Banking [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 9,654 | 24,014 |
Derivative Asset, Fair Value | 151 | 88 |
Derivative Liability, Fair Value | 71 | 52 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 208,437 | 192,621 |
Derivative Asset, Fair Value | 3,875 | 2,812 |
Derivative Liability, Fair Value | 3,705 | 2,661 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Credit Risk Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,397 | 5,026 |
Derivative Asset, Fair Value | 3 | 2 |
Derivative Liability, Fair Value | 7 | 4 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 12,064 | 10,888 |
Derivative Asset, Fair Value | 185 | 194 |
Derivative Liability, Fair Value | 159 | 198 |
Not Designated as Hedging Instrument [Member] | Customer Contracts [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 189,976 | 176,707 |
Derivative Asset, Fair Value | 3,687 | 2,616 |
Derivative Liability, Fair Value | 3,539 | 2,459 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,914 | 5,299 |
Derivative Asset, Fair Value | 40 | 59 |
Derivative Liability, Fair Value | 402 | 468 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,061 | 2,742 |
Derivative Asset, Fair Value | 40 | 59 |
Derivative Liability, Fair Value | 25 | 6 |
Not Designated as Hedging Instrument [Member] | Other Risk Management Activity [Member] | Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,853 | 2,557 |
Derivative Liability, Fair Value | 377 | 462 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 37,604 | 37,505 |
Derivative Asset, Fair Value | 1,369 | 758 |
Derivative Liability, Fair Value | 893 | 416 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 4,925 | 3,945 |
Derivative Asset, Fair Value | 136 | 77 |
Derivative Liability, Fair Value | 64 | 46 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 168,512 | 157,041 |
Derivative Asset, Fair Value | 3,516 | 2,507 |
Derivative Liability, Fair Value | 3,520 | 2,433 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,231 | 650 |
Derivative Asset, Fair Value | 13 | 27 |
Derivative Liability, Fair Value | 7 | 14 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 439 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 4,773 | 4,363 |
Derivative Asset, Fair Value | 150 | 86 |
Derivative Liability, Fair Value | 6 | 13 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 18,428 | 17,653 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 15 | 20 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,322 | 18,454 |
Not Designated as Hedging Instrument [Member] | Future [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 3,077 | 1,673 |
Not Designated as Hedging Instrument [Member] | Future Options [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,000 | |
Derivative Liability, Fair Value | 1 | |
Not Designated as Hedging Instrument [Member] | Residential Mortgage Loan Commitment [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,231 | 1,580 |
Derivative Asset, Fair Value | 32 | 16 |
Not Designated as Hedging Instrument [Member] | Commercial Mortgage Loan Commitment [Member] | Commercial Mortgage Banking Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 1,407 | 1,176 |
Derivative Asset, Fair Value | 15 | 11 |
Derivative Liability, Fair Value | 7 | 6 |
Not Designated as Hedging Instrument [Member] | Bond Option [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 200 | 200 |
Derivative Asset, Fair Value | 2 | |
Not Designated as Hedging Instrument [Member] | Caps Floors Sold [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 5,140 | 5,337 |
Derivative Liability, Fair Value | 10 | 11 |
Not Designated as Hedging Instrument [Member] | Caps Floors Purchased [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,462 | 6,383 |
Derivative Asset, Fair Value | 19 | 18 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,026 | 3,920 |
Derivative Asset, Fair Value | 14 | 4 |
Derivative Liability, Fair Value | 1 | 8 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Loan Sales Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 6,546 | 6,363 |
Derivative Asset, Fair Value | 8 | 16 |
Derivative Liability, Fair Value | 19 | 8 |
Not Designated as Hedging Instrument [Member] | Mortgage Backed Securities Commitments [Member] | Customer Related Interest Rate Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Notional Amount | 2,012 | 1,910 |
Derivative Asset, Fair Value | 2 | 5 |
Derivative Liability, Fair Value | $ 3 | $ 2 |
Financial Derivatives (Gains 76
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ 71 | $ 354 | $ 432 | $ 631 |
Residential Mortgages [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 23 | 138 | 356 | 221 |
Residential Mortgages [Member] | Residential Mortgage Servicing Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 7 | 144 | 343 | 159 |
Residential Mortgages [Member] | Loan Sales Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 16 | (6) | 13 | 62 |
Commercial Mortgage Banking [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (5) | 42 | 75 | 47 |
Commercial Mortgage Banking [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | (5) | 42 | 75 | 47 |
Customer Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 49 | 33 | 92 | 100 |
Customer Contracts [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 23 | 10 | 20 | 44 |
Customer Contracts [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 26 | 23 | 72 | 56 |
Other Risk Management Activity [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 4 | 141 | (91) | 263 |
Other Risk Management Activity [Member] | Interest Rate Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 1 | |||
Other Risk Management Activity [Member] | Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | 26 | 94 | (3) | 208 |
Other Risk Management Activity [Member] | Other Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net | $ (22) | $ 47 | $ (88) | $ 54 |
Financial Derivatives (Deriva77
Financial Derivatives (Derivative Assets and Liabilitites Offsetting) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | $ 7,147 | $ 4,941 |
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 5,407 | 3,802 |
Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 5,407 | 3,802 |
Derivative Liability, Fair Value Offset Amount | 3,851 | 2,554 |
Derivative Liability, Cash Collateral | 1,045 | 608 |
Derivative Liability, Net Fair Value | 511 | 640 |
Derivative Liability, Net | 511 | 640 |
Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 7,147 | 4,941 |
Derivative Asset, Fair Value Offset Amount | 3,851 | 2,554 |
Derivative Asset, Cash Collateral | 782 | 551 |
Derivative Asset, Net Fair Value | 2,514 | 1,836 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 314 | 180 |
Derivative Asset, Net | 2,200 | 1,656 |
Interest Rate Contracts [Member] | Liability [Member] | Exchange Cleared, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 2,192 | 855 |
Derivative Liability, Fair Value Offset Amount | 1,794 | 779 |
Derivative Liability, Cash Collateral | 376 | 57 |
Derivative Liability, Net Fair Value | 22 | 19 |
Derivative Liability, Net | 22 | 19 |
Interest Rate Contracts [Member] | Liability [Member] | Exchange Traded, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 1 | |
Derivative Liability, Net Fair Value | 1 | |
Derivative Liability, Net | 1 | |
Interest Rate Contracts [Member] | Liability [Member] | Over The Counter, Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 2,647 | 2,276 |
Derivative Liability, Fair Value Offset Amount | 1,947 | 1,687 |
Derivative Liability, Cash Collateral | 643 | 530 |
Derivative Liability, Net Fair Value | 57 | 59 |
Derivative Liability, Net | 57 | 59 |
Interest Rate Contracts [Member] | Assets [Member] | Exchange Cleared [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 2,002 | 1,003 |
Derivative Asset, Fair Value Offset Amount | 1,793 | 779 |
Derivative Asset, Cash Collateral | 184 | 195 |
Derivative Asset, Net Fair Value | 25 | 29 |
Derivative Asset, Net | 25 | 29 |
Interest Rate Contracts [Member] | Assets [Member] | Over The Counter [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 4,750 | 3,652 |
Derivative Asset, Fair Value Offset Amount | 1,844 | 1,645 |
Derivative Asset, Cash Collateral | 557 | 342 |
Derivative Asset, Net Fair Value | 2,349 | 1,665 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 314 | 178 |
Derivative Asset, Net | 2,035 | 1,487 |
Foreign Exchange [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 184 | 204 |
Derivative Liability, Fair Value Offset Amount | 105 | 85 |
Derivative Liability, Cash Collateral | 24 | 20 |
Derivative Liability, Net Fair Value | 55 | 99 |
Derivative Liability, Net | 55 | 99 |
Foreign Exchange [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 392 | 284 |
Derivative Asset, Fair Value Offset Amount | 213 | 129 |
Derivative Asset, Cash Collateral | 40 | 13 |
Derivative Asset, Net Fair Value | 139 | 142 |
Derivative Asset, Securities Collateral Held Under Master Netting Agreements | 2 | |
Derivative Asset, Net | 139 | 140 |
Credit Risk Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 7 | 4 |
Derivative Liability, Fair Value Offset Amount | 5 | 3 |
Derivative Liability, Cash Collateral | 2 | 1 |
Credit Risk Contract [Member] | Assets [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Gross Fair Value | 3 | 2 |
Derivative Asset, Fair Value Offset Amount | 1 | 1 |
Derivative Asset, Cash Collateral | 1 | 1 |
Derivative Asset, Net Fair Value | 1 | |
Derivative Asset, Net | 1 | |
Other Contract [Member] | Liability [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Gross Fair Value | 377 | 462 |
Derivative Liability, Net Fair Value | 377 | 462 |
Derivative Liability, Net | $ 377 | $ 462 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share Basic and Diluted [Line Items] | ||||
Net income | $ 1,006,000,000 | $ 1,073,000,000 | $ 2,938,000,000 | $ 3,121,000,000 |
Net income (loss) attributable to noncontrolling interests | 18,000,000 | 18,000,000 | 60,000,000 | 23,000,000 |
Preferred stock dividends and discount accretion and redemptions | 64,000,000 | 64,000,000 | 172,000,000 | 182,000,000 |
Net income attributable to common shares | 924,000,000 | 991,000,000 | 2,706,000,000 | 2,916,000,000 |
Dividends and undistributed earnings allocated to participating securities | 7,000,000 | 19,000,000 | 2,000,000 | |
Net income attributable to basic common shares | 917,000,000 | 991,000,000 | 2,687,000,000 | 2,914,000,000 |
Less: Impact of BlackRock earnings per share dilution | 4,000,000 | 4,000,000 | 10,000,000 | 14,000,000 |
Net income attributable to diluted common shares | $ 913,000,000 | $ 987,000,000 | $ 2,677,000,000 | $ 2,900,000,000 |
Basic weighted-average common shares outstanding | 490,000,000 | 512,000,000 | 496,000,000 | 516,000,000 |
Basic earnings per common share | $ 1.87 | $ 1.93 | $ 5.41 | $ 5.64 |
Dilutive potential common shares | 6,000,000 | 8,000,000 | 6,000,000 | 9,000,000 |
Diluted weighted-average common shares outstanding | 496,000,000 | 520,000,000 | 502,000,000 | 525,000,000 |
Diluted earnings per common share | $ 1.84 | $ 1.9 | $ 5.33 | $ 5.52 |
Total Equity and Other Compre79
Total Equity and Other Comprehensive Income (Narrative) (Details) - TARP Warrant [Member] - $ / shares shares in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Number of warrants or rights outstanding | 13.4 | 13.4 |
Exercise price per share of warrants or rights outstanding | $ 67.33 | $ 67.33 |
Total Equity and Other Compre80
Total Equity and Other Comprehensive Income (Rollforward of Total Equity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Common Stock [Abstract] | ||||
Common Stock, Beginning Balance | $ 2,708 | |||
Capital surplus - Preferred Stock, Beginning Balance | 3,452 | |||
Capital surplus - Common Stock, Beginning Balance | 12,745 | |||
Retained Earnings, Beginning Balance | 29,043 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | $ 736 | $ 379 | 130 | $ 503 |
Treasury Stock, Beginning Balance | 3,368 | |||
Noncontrolling interests, Beginning Balance | 1,270 | |||
Total Equity, Beginning Balance | 45,980 | 46,074 | ||
Net income | 1,006 | 1,073 | 2,938 | 3,121 |
Other comprehensive income (loss), net of tax | (90) | 236 | 516 | 112 |
Cash dividends declared [Abstract] | ||||
Common | (791) | (779) | ||
Preferred | (168) | (178) | ||
Common stock activity | 11 | 39 | ||
Treasury stock activity | (1,420) | (1,465) | ||
Other | (221) | (146) | ||
Common Stock, Ending Balance | 2,709 | 2,709 | ||
Capital surplus - Preferred Stock, Ending Balance | 3,456 | 3,456 | ||
Capital surplus - Common Stock, Ending Balance | 12,703 | 12,703 | ||
Retained Earnings, Ending Balance | 30,958 | 30,958 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 646 | 615 | 646 | 615 |
Treasury Stock, Ending Balance | 4,765 | 4,765 | ||
Noncontrolling interests, Ending Balance | 1,138 | 1,138 | ||
Total Equity, Ending Balance | $ 46,845 | 46,278 | $ 46,845 | 46,278 |
Series K Preferred Stock [Member] | ||||
Cash dividends declared [Abstract] | ||||
Preferred stock redemption, value | $ (500) | $ (500) | ||
Common Stock [Member] | ||||
Common Stock [Abstract] | ||||
Beginning Balance (in shares) | 504 | 523 | ||
Common stock activity, shares | 1 | |||
Treasury stock activity, shares | (16) | (14) | ||
Ending Balance, (in shares) | 488 | 510 | 488 | 510 |
Common Stock, Beginning Balance | $ 2,708 | $ 2,705 | ||
Cash dividends declared [Abstract] | ||||
Common stock activity | 1 | 3 | ||
Common Stock, Ending Balance | $ 2,709 | $ 2,708 | $ 2,709 | $ 2,708 |
Common Stock Per Share Dividends Declared | $ 1.57 | $ 1.5 | ||
Preferred Stock Including Additional Paid in Capital [Member] | ||||
Common Stock [Abstract] | ||||
Capital surplus - Preferred Stock, Beginning Balance | $ 3,452 | $ 3,946 | ||
Cash dividends declared [Abstract] | ||||
Preferred stock discount accretion | 4 | 4 | ||
Capital surplus - Preferred Stock, Ending Balance | 3,456 | 3,450 | 3,456 | 3,450 |
Preferred Stock Including Additional Paid in Capital [Member] | Series K Preferred Stock [Member] | ||||
Cash dividends declared [Abstract] | ||||
Preferred stock redemption, value | (500) | (500) | ||
Common Stock Including Additional Paid in Capital [Member] | ||||
Common Stock [Abstract] | ||||
Capital surplus - Common Stock, Beginning Balance | 12,745 | 12,627 | ||
Cash dividends declared [Abstract] | ||||
Common stock activity | 10 | 36 | ||
Treasury stock activity | (23) | (58) | ||
Other | (29) | 70 | ||
Capital surplus - Common Stock, Ending Balance | 12,703 | 12,675 | 12,703 | 12,675 |
Retained Earnings [Member] | ||||
Common Stock [Abstract] | ||||
Retained Earnings, Beginning Balance | 29,043 | 26,200 | ||
Net income | 2,878 | 3,098 | ||
Cash dividends declared [Abstract] | ||||
Common | (791) | (779) | ||
Preferred | (168) | (178) | ||
Preferred stock discount accretion | (4) | (4) | ||
Retained Earnings, Ending Balance | 30,958 | 28,337 | 30,958 | 28,337 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Common Stock [Abstract] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 130 | 503 | ||
Other comprehensive income (loss), net of tax | 516 | 112 | ||
Cash dividends declared [Abstract] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 646 | 615 | 646 | 615 |
Treasury Stock [Member] | ||||
Common Stock [Abstract] | ||||
Treasury Stock, Beginning Balance | (3,368) | (1,430) | ||
Cash dividends declared [Abstract] | ||||
Treasury stock activity | (1,397) | (1,407) | ||
Treasury Stock, Ending Balance | (4,765) | (2,837) | (4,765) | (2,837) |
Noncontrolling Interest [Member] | ||||
Common Stock [Abstract] | ||||
Noncontrolling interests, Beginning Balance | 1,270 | 1,523 | ||
Net income | 60 | 23 | ||
Cash dividends declared [Abstract] | ||||
Other | (192) | (216) | ||
Noncontrolling interests, Ending Balance | $ 1,138 | $ 1,330 | $ 1,138 | $ 1,330 |
Total Equity and Other Compre81
Total Equity and Other Comprehensive Income (Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||||
Increase in net unrealized gains(losses) on non-OTTI securities | $ (14) | $ 139 | $ 791 | $ (75) |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities in interest income, before tax | 5 | 6 | 19 | 20 |
Less: Net gains (losses) realized on sales of non-OTTI securities reclassified to noninterest income, before tax | 6 | (21) | 20 | 42 |
Net unrealized gains (losses) on non-OTTI securities, Before Tax | (25) | 154 | 752 | (137) |
Other Comprehensive Income (Loss), Non Otti Securities Adjustment, Tax | 10 | (57) | (275) | 50 |
Net unrealized gains (losses) on non-OTTI securities, Activity, After Tax | (15) | 97 | 477 | (87) |
Net Unrealized Gains Losses On Otti Securities [Abstract] | ||||
Increase in net unrealized gains (losses) on OTTI securities, Pretax | 38 | 3 | 16 | 8 |
Less: Net OTTI losses realized in net income, Pre-tax | (1) | (1) | (3) | |
Net unrealized gains (losses) on OTTI securities | 38 | 4 | 17 | 11 |
Net unrealized gains (losses) on OTTI securities, tax | (14) | (1) | (6) | (4) |
Net unrealized gains (losses) on OTTI securities, Activity, After Tax | 24 | 3 | 11 | 7 |
Net unrealized gains (losses) on cash flow hedge derivatives [Abstract] | ||||
Increase in net unrealized gains (losses) on cash flow hedge derivatives, Pretax | (63) | 326 | 328 | 522 |
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income, Before Tax | 51 | 74 | 167 | 202 |
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income, Before Tax | 10 | 6 | 23 | 18 |
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income, Before Tax | 1 | 12 | (1) | |
Net unrealized gains (losses) on cash flow hedge derivatives, Before Tax | (125) | 234 | 138 | 303 |
Net unrealized gains (losses) on cash flow hedge derivatives, tax | 45 | (86) | (51) | (111) |
Net unrealized gains (losses) on cash flow hedge derivatives, Net of tax, Total | (80) | 148 | 87 | 192 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||||
Net pension and other postretirement benefit plan activity, Before tax | (5) | 36 | ||
Amortization of actuarial loss (gain) reclassified to other noninterest expense, Before tax | 13 | 10 | 37 | 28 |
Amortization of prior service cost (credit) reclassified to other noninterest expense, Before tax | (2) | (3) | (6) | (7) |
Pension and other postretirement benefit plan adjustments, net activity, Pre-Tax | 11 | 7 | 26 | 57 |
Pension and other postretirement benefit plan adjustments, net activity, Tax | (5) | (2) | (10) | (20) |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | 6 | 5 | 16 | 37 |
Other Comprehensive Income Other Adjustments [Abstract] | ||||
PNC's portion of BlackRock's OCI, Before tax | (28) | (40) | (34) | |
Net investment hedge derivatives, Before tax | 27 | 43 | 136 | 32 |
Foreign Currency Transaction and Translation Adjustment, before Tax | (24) | (44) | (136) | (35) |
Total Other, net activity, Before tax | (25) | (1) | (40) | (37) |
Total Other, net activity, Tax | (16) | (35) | ||
Total Other, net activity, After tax | (25) | (17) | (75) | (37) |
Other Comprehensive Income Loss Before Tax | (126) | 398 | 893 | 197 |
Other Comprehensive Income (Loss), Tax | 36 | (162) | (377) | (85) |
Other Comprehensive Income (Loss), Net of Tax | $ (90) | $ 236 | $ 516 | $ 112 |
Total Equity and Other Compre82
Total Equity and Other Comprehensive Income (Accumulated Other Comprehensive Income (Loss) Components) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net Unrealized Gains Losses on Non Otti Securities [Abstract] | ||||
Net unrealized gains (losses) on non-OTTI securities, after-tax, Beginning Balance | $ 778 | $ 463 | $ 286 | $ 647 |
Other Comprehensive Income (Loss), Non Otti Securities Adjustment, After Tax | (15) | 97 | 477 | (87) |
Net unrealized gains (losses) on non-OTTI securities, after-tax, Ending Balance | 763 | 560 | 763 | 560 |
Net Unrealized Gains Losses On Otti Securities [Abstract] | ||||
Net unrealized gains (losses) on OTTI securities, after tax, Beginning Balance | 53 | 78 | 66 | 74 |
Other Comprehensive Income Loss Otti Securities Adjustment After Tax | 24 | 3 | 11 | 7 |
Net unrealized gains (losses) on OTTI securities, after tax, Ending Balance | 77 | 81 | 77 | 81 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax [Abstract] | ||||
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Beginning balance | 597 | 394 | 430 | 350 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (80) | 148 | 87 | 192 |
Net unrealized gains (losses) on cash flow hedge derivatives, after-tax, Ending balance | 517 | 542 | 517 | 542 |
Pension and other postretirement benefit plan adjustments [Abstract] | ||||
Pension and other postretirement benefit plan adjustments, after tax, Beginning Balance | (544) | (488) | (554) | (520) |
Pension and other postretirement benefit plan adjustments, net activity, After Tax | 6 | 5 | 16 | 37 |
Pension and other postretirement benefit plan adjustments, after tax, Ending Balance | (538) | (483) | (538) | (483) |
Other Comprehensive Income Other Adjustments [Abstract] | ||||
Other, after tax, Beginning balance | (148) | (68) | (98) | (48) |
Total Other, net activity, After tax | (25) | (17) | (75) | (37) |
Other, after tax, Ending balance | (173) | (85) | (173) | (85) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 736 | 379 | 130 | 503 |
Other comprehensive income (loss), after tax and net of reclassifications into Net income | (90) | 236 | 516 | 112 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | $ 646 | $ 615 | $ 646 | $ 615 |
Legal Proceedings (Details)
Legal Proceedings (Details) - Maximum [Member] | 9 Months Ended |
Sep. 30, 2016USD ($) | |
CBNV Mortgage Litigation [Member] | Settlement Defense Proposed [Member] | |
Loss Contingencies [Line Items] | |
Litigation Settlement Amount | $ 24,000,000 |
CBNV Mortgage Litigation [Member] | Settlement Plaintiffs Proposed [Member] | |
Loss Contingencies [Line Items] | |
Litigation Settlement Amount | 70,000,000 |
Legal Reserve [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, range of possible loss not accrued | 525,000,000 |
Legal Reserve [Member] | Jade Capital Investments, LLC [Member] | |
Loss Contingencies [Line Items] | |
Litigation Settlement Amount | $ 9,500,000 |
Commitments and Guarantees (Nar
Commitments and Guarantees (Narrative) (Details) - Standby letters of credit [Member] $ in Billions | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Loss Contingencies [Line Items] | |
Standby letters of credit - Terms outstanding - Minimum | 1 year |
Standby letters of credit - Terms outstanding - Maximum | 8 years |
Standby letters of credit - Assets securing certain specifically identified standby letters of credit | $ 1 |
Standby letters of credit and participations in standby letters of credit - Liability carrying amount | $ 0.2 |
Commitments and Guarantees (Oth
Commitments and Guarantees (Other Commitments) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Other Commitments [Line Items] | ||
Commitments | $ 160,328 | $ 155,141 |
Commitments to extend credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 147,840 | 142,489 |
Commitments to extend credit [Member] | Total commercial lending [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 104,124 | 101,252 |
Commitments to extend credit [Member] | Home Equity Lines of Credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 17,316 | 17,268 |
Commitments to extend credit [Member] | Credit Card [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 21,907 | 19,937 |
Commitments to extend credit [Member] | Other [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 4,493 | 4,032 |
Standby letters of credit [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 8,760 | 8,765 |
Standby letters of credit [Member] | Remarketing Programs [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 4,400 | 4,700 |
Reinsurance Agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 1,880 | 2,010 |
Reinsurance Agreements [Member] | Accidental Death and Dismemberment [Member] | ||
Other Commitments [Line Items] | ||
Maximum Exposure | 1,600 | 1,600 |
Reinsurance Agreements [Member] | Credit Life Accident and Health [Member] | ||
Other Commitments [Line Items] | ||
Maximum Exposure | 300 | 400 |
Standby bond purchase agreements [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 868 | 911 |
Other commitments [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 980 | 966 |
Other commitments [Member] | Investments in qualified affordable housing projects [Member] | ||
Other Commitments [Line Items] | ||
Commitments | $ 400 | $ 500 |
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, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Internal credit ratings (as a percentage of portfolio) - Pass | 92.00% | 93.00% |
Internal credit ratings (as a percentage of portfolio) - Below pass | 8.00% | 7.00% |
Commitments and Guarantees (Res
Commitments and Guarantees (Resale and Repurchase Agreements) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Gross Resale Agreements | $ 637 | $ 1,082 |
Net Resale Agreements | 637 | 1,082 |
Securities Collateral Held Under Master Netting Agreements | 563 | 1,008 |
Net Amounts | 74 | 74 |
Offsetting Liabilities [Line Items] | ||
Gross Repurchase Agreements | 1,231 | 1,767 |
Net Repurchase Agreements | 1,231 | 1,767 |
Securities Collateral Pledged Under Master Netting Agreements | 532 | 1,014 |
Net Amounts | 699 | 753 |
Long Term Repurchase Agreements [Member] | ||
Offsetting Liabilities [Line Items] | ||
Net Repurchase Agreements | $ 0 | $ 0 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | |
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 | $ 248 | $ 240 |
Segment Reporting (Table) (Deta
Segment Reporting (Table) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 2,095 | $ 2,062 | $ 6,261 | $ 6,186 |
Noninterest income | 1,734 | 1,713 | 5,027 | 5,186 |
Total revenue | 3,829 | 3,775 | 11,288 | 11,372 |
Provision for credit losses (benefit) | 87 | 81 | 366 | 181 |
Depreciation and amortization | 209 | 201 | 626 | 595 |
Other noninterest expense | 2,185 | 2,151 | 6,409 | 6,472 |
Income (loss) before income taxes and noncontrolling interests | 1,348 | 1,342 | 3,887 | 4,124 |
Income taxes | 342 | 269 | 949 | 1,003 |
Net income (loss) | 1,006 | 1,073 | 2,938 | 3,121 |
Average Assets | 363,870 | 358,587 | 359,607 | 353,133 |
Retail Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 1,120 | 1,068 | 3,350 | 3,150 |
Noninterest income | 527 | 574 | 1,628 | 1,652 |
Total revenue | 1,647 | 1,642 | 4,978 | 4,802 |
Provision for credit losses (benefit) | 104 | 57 | 210 | 151 |
Depreciation and amortization | 40 | 42 | 121 | 127 |
Other noninterest expense | 1,151 | 1,148 | 3,388 | 3,431 |
Income (loss) before income taxes and noncontrolling interests | 352 | 395 | 1,259 | 1,093 |
Income taxes | 129 | 144 | 461 | 399 |
Net income (loss) | 223 | 251 | 798 | 694 |
Average Assets | 71,219 | 72,916 | 71,658 | 73,430 |
Corporate & Institutional Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 840 | 855 | 2,500 | 2,515 |
Noninterest income | 517 | 476 | 1,484 | 1,397 |
Total revenue | 1,357 | 1,331 | 3,984 | 3,912 |
Provision for credit losses (benefit) | 12 | 46 | 188 | 83 |
Depreciation and amortization | 35 | 36 | 107 | 109 |
Other noninterest expense | 520 | 497 | 1,518 | 1,485 |
Income (loss) before income taxes and noncontrolling interests | 790 | 752 | 2,171 | 2,235 |
Income taxes | 253 | 250 | 713 | 743 |
Net income (loss) | 537 | 502 | 1,458 | 1,492 |
Average Assets | 139,806 | 131,613 | 137,884 | 131,678 |
Asset Management Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 74 | 71 | 227 | 215 |
Noninterest income | 220 | 207 | 636 | 658 |
Total revenue | 294 | 278 | 863 | 873 |
Provision for credit losses (benefit) | (3) | (2) | 11 | |
Depreciation and amortization | 11 | 10 | 34 | 33 |
Other noninterest expense | 195 | 201 | 584 | 603 |
Income (loss) before income taxes and noncontrolling interests | 91 | 69 | 245 | 226 |
Income taxes | 33 | 25 | 90 | 83 |
Net income (loss) | 58 | 44 | 155 | 143 |
Average Assets | 7,588 | 7,902 | 7,743 | 7,922 |
Residential Mortgage Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 28 | 31 | 81 | 91 |
Noninterest income | 163 | 135 | 450 | 488 |
Total revenue | 191 | 166 | 531 | 579 |
Provision for credit losses (benefit) | 2 | 2 | ||
Depreciation and amortization | 3 | 4 | 8 | 11 |
Other noninterest expense | 167 | 167 | 450 | 499 |
Income (loss) before income taxes and noncontrolling interests | 21 | (7) | 73 | 67 |
Income taxes | 8 | (3) | 27 | 24 |
Net income (loss) | 13 | (4) | 46 | 43 |
Average Assets | 6,160 | 6,513 | 6,078 | 6,962 |
BlackRock [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Noninterest income | 189 | 181 | 500 | 532 |
Total revenue | 189 | 181 | 500 | 532 |
Income (loss) before income taxes and noncontrolling interests | 189 | 181 | 500 | 532 |
Income taxes | 41 | 42 | 110 | 125 |
Net income (loss) | 148 | 139 | 390 | 407 |
Average Assets | 7,026 | 6,813 | 7,026 | 6,813 |
Non Strategic Assets [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 72 | 90 | 220 | 302 |
Noninterest income | 8 | 16 | 35 | 34 |
Total revenue | 80 | 106 | 255 | 336 |
Provision for credit losses (benefit) | (22) | (25) | (16) | (61) |
Other noninterest expense | 16 | 23 | 57 | 73 |
Income (loss) before income taxes and noncontrolling interests | 86 | 108 | 214 | 324 |
Income taxes | 32 | 40 | 79 | 119 |
Net income (loss) | 54 | 68 | 135 | 205 |
Average Assets | 5,302 | 6,460 | 5,580 | 6,880 |
All Other Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | (39) | (53) | (117) | (87) |
Noninterest income | 110 | 124 | 294 | 425 |
Total revenue | 71 | 71 | 177 | 338 |
Provision for credit losses (benefit) | (4) | 3 | (16) | (5) |
Depreciation and amortization | 120 | 109 | 356 | 315 |
Other noninterest expense | 136 | 115 | 412 | 381 |
Income (loss) before income taxes and noncontrolling interests | (181) | (156) | (575) | (353) |
Income taxes | (154) | (229) | (531) | (490) |
Net income (loss) | (27) | 73 | (44) | 137 |
Average Assets | $ 126,769 | $ 126,370 | $ 123,638 | $ 119,448 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Events [Member] - Series S Preferred Stock [Member] $ in Millions | Nov. 01, 2016USD ($)shares |
Subsequent Event [Line Items] | |
Depository Shares Issued | 525,000 |
Interest In Preferred Stock | 0.01% |
Gross Proceeds | $ | $ 525 |
Series S Preferred Shares Issued | 5,250 |