Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 24, 2019 | |
Entity Information [Line Items] | ||
Entity Registrant Name | WELLS FARGO & COMPANY/MN | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 001-2979 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 41-0449260 | |
Entity Address, Address Line One | 420 Montgomery Street | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94163 | |
City Area Code | 866 | |
Local Phone Number | 249-3302 | |
Title of 12(b) Security | Common Stock, par value $1-2/3 | |
Trading Symbol | WFC | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,406,107,022 | |
Entity Central Index Key | 0000072971 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L | |
Trading Symbol | WFC.PRL | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series N | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series N | |
Trading Symbol | WFC.PRN | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series O | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series O | |
Trading Symbol | WFC.PRO | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series P | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series P | |
Trading Symbol | WFC.PRP | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th int. in a share of 5.85% Fixed-to-Floating Rate Non-Cum. Perpetual Class A Preferred Stock, Series Q | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shr, 1/1000th int. per shr of 5.85% Fix-to-Float Non-Cum. Perpetual Class A Pref. Stock, Ser. Q | |
Trading Symbol | WFC.PRQ | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th int. in a share of 6.625% Fixed-to-Floating Rate Non-Cum. Perpetual Class A Preferred Stock, Series R | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shr, 1/1000th int. per shr of 6.625% Fix-to-Float Non-Cum. Perpetual Class A Pref. Stock, Ser. R | |
Trading Symbol | WFC.PRR | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series T | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series T | |
Trading Symbol | WFC.PRT | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series V | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series V | |
Trading Symbol | WFC.PRV | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series W | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series W | |
Trading Symbol | WFC.PRW | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series X | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series X | |
Trading Symbol | WFC.PRX | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Dep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y | |
Trading Symbol | WFC.PRY | |
Security Exchange Name | NYSE | |
Guarantee of 5.80% Fixed-to-Floating Rate Normal Wachovia Income Trust Securities of Wachovia Capital Trust III | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Guarantee 5.80% Fix-to-Float Normal Wachovia Income Trust Securities of Wachovia Capital Trust III | |
Trading Symbol | WBTP | |
Security Exchange Name | NYSE | |
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC | |
Trading Symbol | WFC/28A | |
Security Exchange Name | NYSE |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Interest income | |||||
Debt securities | $ 3,781 | $ 3,594 | $ 7,722 | $ 7,008 | |
Mortgage loans held for sale | 195 | 198 | 347 | 377 | |
Loans held for sale | 20 | 48 | 44 | 72 | |
Loans | 11,316 | 10,912 | 22,670 | 21,491 | |
Equity securities | 236 | 221 | 446 | 452 | |
Other interest income | 1,438 | 1,042 | 2,760 | 1,962 | |
Total interest income | 16,986 | 16,015 | 33,989 | 31,362 | |
Interest expense | |||||
Deposits | 2,213 | 1,268 | 4,239 | 2,358 | |
Short-term borrowings | 646 | 398 | 1,242 | 709 | |
Long-term debt | 1,900 | 1,658 | 3,827 | 3,234 | |
Other interest expense | 132 | 150 | 275 | 282 | |
Total interest expense | 4,891 | 3,474 | 9,583 | 6,583 | |
Net interest income | 12,095 | 12,541 | 24,406 | 24,779 | |
Provision for credit losses | 503 | 452 | 1,348 | 643 | |
Net interest income after provision for credit losses | 11,592 | 12,089 | 23,058 | 24,136 | |
Noninterest income | |||||
Mortgage banking | 758 | 770 | 1,466 | 1,704 | |
Insurance | 93 | 102 | 189 | 216 | |
Net gains from trading activities | 229 | 191 | 586 | 434 | |
Net gains on debt securities (1) | [1] | 20 | 41 | 145 | 42 |
Net gains from equity securities (2) | [2] | 622 | 295 | 1,436 | 1,078 |
Lease income | 424 | 443 | 867 | 898 | |
Other | 744 | 485 | 1,318 | 1,087 | |
Total noninterest income | 9,489 | 9,012 | 18,787 | 18,708 | |
Noninterest expense | |||||
Salaries | 4,541 | 4,465 | 8,966 | 8,828 | |
Commission and incentive compensation | 2,597 | 2,642 | 5,442 | 5,410 | |
Employee benefits | 1,336 | 1,245 | 3,274 | 2,843 | |
Equipment | 607 | 550 | 1,268 | 1,167 | |
Net occupancy | 719 | 722 | 1,436 | 1,435 | |
Core deposit and other intangibles | 27 | 265 | 55 | 530 | |
FDIC and other deposit assessments | 144 | 297 | 303 | 621 | |
Other | 3,478 | 3,796 | 6,621 | 8,190 | |
Total noninterest expense | 13,449 | 13,982 | 27,365 | 29,024 | |
Income before income tax expense | 7,632 | 7,119 | 14,480 | 13,820 | |
Income tax expense | 1,294 | 1,810 | 2,175 | 3,184 | |
Net income before noncontrolling interests | 6,338 | 5,309 | 12,305 | 10,636 | |
Less: Net income from noncontrolling interests | 132 | 123 | 239 | 314 | |
Wells Fargo net income | 6,206 | 5,186 | 12,066 | 10,322 | |
Less: Preferred stock dividends and other | 358 | 394 | 711 | 797 | |
Wells Fargo net income applicable to common stock | $ 5,848 | $ 4,792 | $ 11,355 | $ 9,525 | |
Per share information | |||||
Earnings per common share (in dollars per share) | $ 1.31 | $ 0.98 | $ 2.52 | $ 1.95 | |
Diluted earnings per common share (in dollars per share) | $ 1.30 | $ 0.98 | $ 2.50 | $ 1.94 | |
Average common shares outstanding (in shares) | 4,469.4 | 4,865.8 | 4,510.2 | 4,875.7 | |
Diluted average common shares outstanding (in shares) | 4,495 | 4,899.8 | 4,540.1 | 4,916.1 | |
Service charges on deposit accounts | |||||
Noninterest income | |||||
Fee income | $ 1,206 | $ 1,163 | $ 2,300 | $ 2,336 | |
Trust and investment fees | |||||
Noninterest income | |||||
Fee income | 3,568 | 3,675 | 6,941 | 7,358 | |
Card fees | |||||
Noninterest income | |||||
Fee income | 1,025 | 1,001 | 1,969 | 1,909 | |
Other fees | |||||
Noninterest income | |||||
Fee income | $ 800 | $ 846 | $ 1,570 | $ 1,646 | |
[1] | (1) Total other-than-temporary impairment (OTTI) losses (reversal of losses) were $6 million and $(3) million for second quarter 2019 and 2018 , respectively. Of total OTTI, losses of $7 million and $8 million were recognized in earnings, and losses (reversal of losses) of $(1) million and $(11) million were recognized as non-credit-related OTTI in other comprehensive income for second quarter 2019 and 2018 , respectively. Total OTTI losses were $51 million and $14 million for the first half of 2019 and 2018 , respectively. Of total OTTI, losses of $52 million and $18 million were recognized in earnings, and losses (reversal of losses) of $(1) million and $(4) million were recognized as non-credit-related OTTI in other comprehensive income for the first half of 2019 and 2018 , respectively. | ||||
[2] | (2) Includes OTTI losses of $31 million and $237 million for second quarter 2019 and 2018 , respectively, and $67 million and $257 million for the first half of 2019 and 2018 , respectively. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Noninterest income | ||||
Total OTTI losses recorded on equity securities | $ 31 | $ 237 | $ 67 | $ 257 |
Debt securities [Member] | ||||
Noninterest income | ||||
Total OTTI losses recorded on debt securities | 6 | (3) | 51 | 14 |
Total recorded as part of gross realized losses | 7 | 8 | 52 | 18 |
Total losses recognized in OCI as non-credit-related impairment | $ (1) | $ (11) | $ (1) | $ (4) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Wells Fargo net income | $ 6,206 | $ 5,186 | $ 12,066 | $ 10,322 |
Debt securities: | ||||
Net unrealized gains (losses) arising during the period | 1,709 | (617) | 4,540 | (4,060) |
Reclassification of net (gains) losses to net income | 39 | 49 | (42) | 117 |
Derivative and hedging activities: | ||||
Net unrealized gains (losses) arising during the period | 57 | (150) | 22 | (392) |
Reclassification of net losses to net income | 79 | 77 | 158 | 137 |
Defined benefit plans adjustments: | ||||
Net actuarial and prior service gains (losses) arising during the period | 0 | 0 | (4) | 6 |
Amortization of net actuarial loss, settlements and other to net income | 33 | 29 | 68 | 61 |
Foreign currency translation adjustments: | ||||
Net unrealized gains (losses) arising during the period | 14 | (83) | 56 | (85) |
Other comprehensive income (loss), before tax | 1,931 | (695) | 4,798 | (4,216) |
Income tax benefit (expense) related to other comprehensive income | (473) | 154 | (1,167) | 1,016 |
Other comprehensive income (loss), net of tax | 1,458 | (541) | 3,631 | (3,200) |
Less: Other comprehensive loss from noncontrolling interests | 0 | (1) | 0 | (1) |
Wells Fargo other comprehensive income (loss), net of tax | 1,458 | (540) | 3,631 | (3,199) |
Wells Fargo comprehensive income | 7,664 | 4,646 | 15,697 | 7,123 |
Comprehensive income from noncontrolling interests | 132 | 122 | 239 | 313 |
Total comprehensive income | $ 7,796 | $ 4,768 | $ 15,936 | $ 7,436 |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and due from banks | $ 20,880 | $ 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Total cash, cash equivalents, and restricted cash | 164,427 | 173,287 | |
Federal funds sold and securities purchased under resale agreements | 112,119 | 80,207 | |
Debt securities: | |||
Trading, at fair value | 70,208 | 69,989 | |
Available-for-sale, at fair value | 265,983 | 269,912 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 145,876 | 144,788 | |
Mortgage loans held for sale (includes $16,343 and $11,771 carried at fair value) (1) | [1] | 22,998 | 15,126 |
Loans held for sale (includes $1,118 and $1,469 carried at fair value) (1) | [1] | 1,181 | 2,041 |
Loans (includes $202 and $244 carried at fair value) (1) | [1] | 949,878 | 953,110 |
Allowance for loan losses | (9,692) | (9,775) | |
Net loans | 940,186 | 943,335 | |
Mortgage servicing rights: | |||
Measured at fair value | 12,096 | 14,649 | |
Amortized | 1,407 | 1,443 | |
Premises and equipment, net | 9,435 | 8,920 | |
Goodwill | 26,415 | 26,418 | |
Derivative assets | 13,162 | 10,770 | |
Equity securities (includes $35,950 and $29,556 carried at fair value) (1) | [1] | 61,537 | 55,148 |
Other assets | 76,358 | 79,850 | |
Total assets | [2] | 1,923,388 | 1,895,883 |
Liabilities | |||
Noninterest-bearing deposits | 340,813 | 349,534 | |
Interest-bearing deposits | 947,613 | 936,636 | |
Total deposits | 1,288,426 | 1,286,170 | |
Short-term borrowings | 115,344 | 105,787 | |
Derivative liabilities | 8,399 | 8,499 | |
Accrued expenses and other liabilities | 69,706 | 69,317 | |
Long-term debt | 241,476 | 229,044 | |
Total liabilities | [3] | 1,723,351 | 1,698,817 |
Wells Fargo stockholders’ equity: | |||
Preferred stock | 23,021 | 23,214 | |
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares | 9,136 | 9,136 | |
Additional paid-in capital | 60,625 | 60,685 | |
Retained earnings | 164,551 | 158,163 | |
Cumulative other comprehensive income (loss) | (2,224) | (6,336) | |
Treasury stock – 1,062,220,277 shares and 900,557,866 shares | (54,775) | (47,194) | |
Unearned ESOP shares | (1,292) | (1,502) | |
Total Wells Fargo stockholders’ equity | 199,042 | 196,166 | |
Noncontrolling interests | 995 | 900 | |
Total equity | 200,037 | 197,066 | |
Total liabilities and equity | $ 1,923,388 | $ 1,895,883 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. | ||
[2] | (2) Our consolidated assets at June 30, 2019 , and December 31, 2018 , include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million ; Interest-earning deposits with banks, $8 million and $8 million ; Debt securities, $60 million and $45 million ; Net loans, $13.6 billion and $13.6 billion ; Equity securities, $121 million and $85 million ; Other assets, $208 million and $221 million ; and Total assets, $14.0 billion and $14.1 billion , respectively. | ||
[3] | (3) Our consolidated liabilities at June 30, 2019 , and December 31, 2018 , include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million ; Accrued expenses and other liabilities, $201 million and $191 million ; Long-term debt, $748 million and $816 million ; and Total liabilities, $950 million and $1.0 billion , respectively. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Held-to-maturity, at fair value | $ 147,864 | $ 142,115 | |
Equity securities, carried at fair value | 35,950 | 29,556 | |
Cash and due from banks | 20,880 | 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Net loans | 940,186 | 943,335 | |
Other assets | 76,358 | 79,850 | |
Equity securities (includes $35,950 and $29,556 carried at fair value) (1) | [1] | 61,537 | 55,148 |
Assets | [2] | 1,923,388 | 1,895,883 |
Liabilities | |||
Derivative liabilities | 8,399 | 8,499 | |
Accrued expenses and other liabilities | 69,706 | 69,317 | |
Long-term debt | 241,476 | 229,044 | |
Liabilities | [3] | $ 1,723,351 | $ 1,698,817 |
Wells Fargo stockholders’ equity: | |||
Common stock, par value | $ 1.666602371 | $ 1.666602371 | |
Common stock, shares issued | 5,481,811,474 | 5,481,811,474 | |
Common stock, shares authorized | 9,000,000,000 | 9,000,000,000 | |
Treasury stock, shares | 1,062,220,277 | 900,557,866 | |
VIEs that we consolidate [Member] | |||
Assets | |||
Cash and due from banks | $ 11 | $ 139 | |
Interest-earning deposits with banks | 8 | 8 | |
Debt securities | 60 | 45 | |
Net loans | 13,600 | 13,600 | |
Other assets | 208 | 221 | |
Equity securities (includes $35,950 and $29,556 carried at fair value) (1) | 121 | 85 | |
Assets | 14,010 | 14,062 | |
Liabilities | |||
Derivative liabilities | 1 | 0 | |
Accrued expenses and other liabilities | 201 | 191 | |
Long-term debt | 748 | 816 | |
Liabilities | 950 | 1,007 | |
Fair value option election [Member] | |||
Assets | |||
Mortgage loans held for sale, carried at fair value | 16,343 | 11,771 | |
Loans held for sale, carried at fair value | 1,118 | 1,469 | |
Loans, carried at fair value | $ 202 | $ 244 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. | ||
[2] | (2) Our consolidated assets at June 30, 2019 , and December 31, 2018 , include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million ; Interest-earning deposits with banks, $8 million and $8 million ; Debt securities, $60 million and $45 million ; Net loans, $13.6 billion and $13.6 billion ; Equity securities, $121 million and $85 million ; Other assets, $208 million and $221 million ; and Total assets, $14.0 billion and $14.1 billion , respectively. | ||
[3] | (3) Our consolidated liabilities at June 30, 2019 , and December 31, 2018 , include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million ; Accrued expenses and other liabilities, $201 million and $191 million ; Long-term debt, $748 million and $816 million ; and Total liabilities, $950 million and $1.0 billion , respectively. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity (Unaudited) - USD ($) $ in Millions | Total | Total Wells Fargo stockholders' equity [Member] | Preferred stock [Member] | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Cumulative other comprehensive income [Member] | Treasury stock [Member] | Unearned ESOP Shares [Member] | Noncontrolling interests [Member] | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Cumulative effect of new accounting principle | Accounting Standards Update (ASU) 2016-01; ASU 2016-04; ASU 2016-16 and ASU 2014-09 [Member] | [1] | $ (24) | $ (24) | $ 94 | $ (118) | ||||||
Beginning balance, adjusted balance | 208,055 | 206,912 | $ 25,358 | $ 9,136 | $ 60,893 | 145,357 | (2,262) | $ (29,892) | $ (1,678) | $ 1,143 | |
Beginning balance, shares at Dec. 31, 2017 | 11,677,235 | 4,891,616,628 | |||||||||
Balance, beginning of period at Dec. 31, 2017 | 208,079 | 206,936 | $ 25,358 | $ 9,136 | 60,893 | 145,263 | (2,144) | (29,892) | (1,678) | 1,143 | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 10,322 | 10,322 | 10,322 | ||||||||
Net income attributable to noncontrolling interests | (314) | 314 | |||||||||
Net income | 10,636 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (3,199) | (3,199) | (3,199) | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 1 | (1) | |||||||||
Other comprehensive income (loss), net of tax | (3,200) | (3,200) | |||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 7 | 7 | |||||||||
Noncontrolling interests | (575) | ||||||||||
Total change in noncontrolling interests | (568) | ||||||||||
Common stock issued | 1,281 | 1,281 | 5 | (231) | 1,507 | ||||||
Common stock, shares issued | 30,259,788 | ||||||||||
Common stock repurchased | [2] | (5,952) | (5,952) | (1,000) | (4,952) | ||||||
Common stock repurchased, shares | [2] | (86,339,185) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 1,100 | 43 | (1,143) | ||||||
Preferred stock issued to ESOP, shares | 1,100,000 | ||||||||||
Preferred stock released by ESOP | 721 | 721 | (49) | 770 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (721) | 27 | 694 | ||||||
Preferred stock converted to common shares, shares | (721,251) | 13,530,623 | |||||||||
Common stock warrant repurchased/exercised | (158) | (158) | (158) | ||||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | |||||||
Preferred stock, shares issued | 0 | ||||||||||
Common stock dividends | (3,811) | (3,811) | 30 | (3,841) | |||||||
Preferred stock dividends | (804) | (804) | (804) | ||||||||
Stock incentive compensation expense | 695 | 695 | 695 | ||||||||
Net change in deferred compensation and related plans | (826) | (826) | (849) | 23 | |||||||
Net change | (1,986) | (1,724) | $ 379 | $ 0 | (1,249) | 5,446 | (3,199) | (2,728) | (373) | (262) | |
Net change, shares | 378,749 | (42,548,774) | |||||||||
Balance, end of period at Jun. 30, 2018 | 206,069 | 205,188 | $ 25,737 | $ 9,136 | 59,644 | 150,803 | (5,461) | (32,620) | (2,051) | 881 | |
Ending balance, shares at Jun. 30, 2018 | 12,055,984 | 4,849,067,854 | |||||||||
Beginning balance, shares at Mar. 31, 2018 | 12,546,235 | 4,873,882,481 | |||||||||
Balance, beginning of period at Mar. 31, 2018 | 205,910 | 204,952 | $ 26,227 | $ 9,136 | 60,399 | 147,928 | (4,921) | (31,246) | (2,571) | 958 | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 5,186 | 5,186 | 5,186 | ||||||||
Net income attributable to noncontrolling interests | (123) | 123 | |||||||||
Net income | 5,309 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | (540) | (540) | (540) | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 1 | (1) | |||||||||
Other comprehensive income (loss), net of tax | (541) | (541) | |||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | 0 | |||||||||
Noncontrolling interests | (199) | ||||||||||
Total change in noncontrolling interests | (199) | ||||||||||
Common stock issued | 73 | 73 | (20) | 0 | 93 | ||||||
Common stock, shares issued | 1,834,029 | ||||||||||
Common stock repurchased | [3] | (2,923) | (2,923) | (1,000) | (1,923) | ||||||
Common stock repurchased, shares | [3] | (35,771,728) | |||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 0 | 0 | 0 | ||||||
Preferred stock issued to ESOP, shares | 0 | ||||||||||
Preferred stock released by ESOP | 490 | 490 | (30) | 520 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (490) | 22 | 468 | ||||||
Preferred stock converted to common shares, shares | (490,251) | 9,123,072 | |||||||||
Common stock warrant repurchased/exercised | (1) | (1) | (1) | ||||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | |||||||
Preferred stock, shares issued | 0 | ||||||||||
Common stock dividends | (1,900) | (1,900) | 17 | (1,917) | |||||||
Preferred stock dividends | (394) | (394) | (394) | ||||||||
Stock incentive compensation expense | 258 | 258 | 258 | ||||||||
Net change in deferred compensation and related plans | (13) | (13) | (1) | (12) | |||||||
Net change | 159 | 236 | $ (490) | $ 0 | (755) | 2,875 | (540) | (1,374) | 520 | (77) | |
Net change, shares | (490,251) | (24,814,627) | |||||||||
Balance, end of period at Jun. 30, 2018 | 206,069 | 205,188 | $ 25,737 | $ 9,136 | 59,644 | 150,803 | (5,461) | (32,620) | (2,051) | 881 | |
Ending balance, shares at Jun. 30, 2018 | 12,055,984 | 4,849,067,854 | |||||||||
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Cumulative effect of new accounting principle | Accounting Standards Update 2016-02 and Accounting Standards Update 2017-08 [Member] | [4] | (11) | (11) | (492) | 481 | ||||||
Beginning balance, adjusted balance | 197,055 | 196,155 | $ 23,214 | $ 9,136 | 60,685 | 157,671 | (5,855) | (47,194) | (1,502) | 900 | |
Beginning balance, shares at Dec. 31, 2018 | 9,377,216 | 4,581,253,608 | |||||||||
Balance, beginning of period at Dec. 31, 2018 | 197,066 | 196,166 | $ 23,214 | $ 9,136 | 60,685 | 158,163 | (6,336) | (47,194) | (1,502) | 900 | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 12,066 | 12,066 | 12,066 | ||||||||
Net income attributable to noncontrolling interests | (239) | 239 | |||||||||
Net income | 12,305 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 3,631 | 3,631 | 3,631 | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 0 | 0 | |||||||||
Other comprehensive income (loss), net of tax | 3,631 | 3,631 | |||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | 0 | |||||||||
Noncontrolling interests | (144) | ||||||||||
Total change in noncontrolling interests | (144) | ||||||||||
Common stock issued | 1,538 | 1,538 | (2) | (367) | 1,907 | ||||||
Common stock, shares issued | 36,549,824 | ||||||||||
Common stock repurchased | (9,718) | (9,718) | 0 | (9,718) | |||||||
Common stock repurchased, shares | (202,216,454) | ||||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 0 | 0 | 0 | ||||||
Preferred stock issued to ESOP, shares | 0 | ||||||||||
Preferred stock released by ESOP | 193 | 193 | (17) | 210 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (193) | (15) | 208 | ||||||
Preferred stock converted to common shares, shares | (193,047) | 4,004,219 | |||||||||
Common stock warrant repurchased/exercised | 0 | 0 | 0 | ||||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | |||||||
Preferred stock, shares issued | 0 | ||||||||||
Common stock dividends | (4,069) | (4,069) | 39 | (4,108) | |||||||
Preferred stock dividends | (711) | (711) | (711) | ||||||||
Stock incentive compensation expense | 791 | 791 | 791 | ||||||||
Net change in deferred compensation and related plans | (834) | (834) | (856) | 22 | |||||||
Net change | 2,982 | 2,887 | $ (193) | $ 0 | (60) | 6,880 | 3,631 | (7,581) | 210 | 95 | |
Net change, shares | (193,047) | (161,662,411) | |||||||||
Balance, end of period at Jun. 30, 2019 | 200,037 | 199,042 | $ 23,021 | $ 9,136 | 60,625 | 164,551 | (2,224) | (54,775) | (1,292) | 995 | |
Ending balance, shares at Jun. 30, 2019 | 9,184,169 | 4,419,591,197 | |||||||||
Beginning balance, shares at Mar. 31, 2019 | 9,377,211 | 4,511,947,830 | |||||||||
Balance, beginning of period at Mar. 31, 2019 | 198,733 | 197,832 | $ 23,214 | $ 9,136 | 60,409 | 160,776 | (3,682) | (50,519) | (1,502) | 901 | |
Stockholders' Equity Period Increase (Decrease) | |||||||||||
Net income | 6,206 | 6,206 | 6,206 | ||||||||
Net income attributable to noncontrolling interests | (132) | 132 | |||||||||
Net income | 6,338 | ||||||||||
Other comprehensive income (loss) attributable to parent, net of tax | 1,458 | 1,458 | 1,458 | ||||||||
Other comprehensive income (loss) attributable to noncontrolling interest, net of tax | 0 | 0 | |||||||||
Other comprehensive income (loss), net of tax | 1,458 | 1,458 | |||||||||
Noncontrolling interests, adjustments to Additional Paid in Capital | 0 | 0 | |||||||||
Noncontrolling interests | (38) | ||||||||||
Total change in noncontrolling interests | (38) | ||||||||||
Common stock issued | 399 | 399 | (2) | (38) | 439 | ||||||
Common stock, shares issued | 8,491,923 | ||||||||||
Common stock repurchased | (4,898) | (4,898) | 0 | (4,898) | |||||||
Common stock repurchased, shares | (104,852,744) | ||||||||||
Preferred stock issued to ESOP | 0 | 0 | $ 0 | 0 | 0 | ||||||
Preferred stock issued to ESOP, shares | 0 | ||||||||||
Preferred stock released by ESOP | 193 | 193 | (17) | 210 | |||||||
Preferred stock converted to common shares | 0 | 0 | $ (193) | (15) | 208 | ||||||
Preferred stock converted to common shares, shares | (193,042) | 4,004,188 | |||||||||
Common stock warrant repurchased/exercised | 0 | 0 | 0 | ||||||||
Preferred stock issued | 0 | 0 | $ 0 | 0 | |||||||
Preferred stock, shares issued | 0 | ||||||||||
Common stock dividends | (2,015) | (2,015) | 20 | (2,035) | |||||||
Preferred stock dividends | (358) | (358) | (358) | ||||||||
Stock incentive compensation expense | 247 | 247 | 247 | ||||||||
Net change in deferred compensation and related plans | (22) | (22) | (17) | (5) | |||||||
Net change | 1,304 | 1,210 | $ (193) | $ 0 | 216 | 3,775 | 1,458 | (4,256) | 210 | 94 | |
Net change, shares | (193,042) | (92,356,633) | |||||||||
Balance, end of period at Jun. 30, 2019 | $ 200,037 | $ 199,042 | $ 23,021 | $ 9,136 | $ 60,625 | $ 164,551 | $ (2,224) | $ (54,775) | $ (1,292) | $ 995 | |
Ending balance, shares at Jun. 30, 2019 | 9,184,169 | 4,419,591,197 | |||||||||
[1] | Effective January 1, 2018, we adopted ASU 2016-04 – Liabilities – Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products, ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , and ASU 2014-09 – Revenue from Contracts With Customers (Topic 606) and subsequent related Updates . See Note 1 (Summary of Significant Accounting Policies) for more information. | ||||||||||
[2] | (3) For the quarter ended June 30, 2018, additional paid-in capital was reduced by $1.0 billion for the upfront payment related to a private forward repurchase transaction that settled in third quarter 2018 and reduced our third quarter 2018 shares of common stock by 18.8 million shares upon settlement. | ||||||||||
[3] | (1) For the quarter ended June 30, 2018, additional paid-in capital was reduced by $1.0 billion for the upfront payment related to a private forward repurchase transaction that settled in third quarter 2018 and reduced our third quarter 2018 shares of common stock by 18.8 million shares upon settlement. | ||||||||||
[4] | Effective January 1, 2019, we adopted ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . See Note 1 (Summary of Significant Accounting Policies) for more information. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Unaudited) (Parenthetical) shares in Millions, $ in Millions | 3 Months Ended |
Sep. 30, 2018shares | |
Private Forward Repurchase Transaction [Member] | |
Consolidated Statement of Changes in Equity (Textuals) [Abstract] | |
Common stock repurchased, shares | 18.8 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income before noncontrolling interests | $ 12,305 | $ 10,636 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 1,348 | 643 |
Changes in fair value of MSRs, MLHFS and LHFS carried at fair value | 2,408 | (787) |
Depreciation, amortization and accretion | 3,100 | 2,835 |
Other net (gains) | (1,360) | (6,285) |
Stock-based compensation | 1,388 | 1,286 |
Originations and purchases of mortgage loans held for sale | (63,836) | (80,948) |
Proceeds from sales of and paydowns on mortgage loans held for sale | 39,741 | 60,898 |
Net change in: | ||
Debt and equity securities, held for trading | 14,777 | 16,371 |
Loans held for sale | 619 | (411) |
Deferred income taxes | (821) | 1,118 |
Derivative assets and liabilities | (2,461) | 958 |
Other assets | 7,194 | 7,547 |
Other accrued expenses and liabilities | (7,120) | 520 |
Net cash provided by operating activities | 7,282 | 14,381 |
Net change in: | ||
Federal funds sold and securities purchased under resale agreements | (31,912) | (1,161) |
Available-for-sale debt securities: | ||
Proceeds from sales | 6,682 | 6,151 |
Prepayments and maturities | 17,657 | 17,377 |
Purchases | (18,306) | (26,300) |
Held-to-maturity debt securities: | ||
Paydowns and maturities | 5,145 | 5,431 |
Purchases | (154) | 0 |
Equity securities, not held for trading: | ||
Proceeds from sales and capital returns | 2,320 | 3,337 |
Purchases | (2,426) | (2,791) |
Loans: | ||
Loans originated by banking subsidiaries, net of principal collected | (7,008) | (445) |
Proceeds from sales (including participations) of loans held for investment | 8,196 | 7,879 |
Purchases (including participations) of loans | (1,001) | (668) |
Principal collected on nonbank entities’ loans | 1,770 | 3,229 |
Loans originated by nonbank entities | (2,604) | (2,998) |
Proceeds from sales of foreclosed assets and short sales | 1,405 | 1,954 |
Other, net | 512 | (284) |
Net cash provided (used) by investing activities | (19,724) | 10,711 |
Net change in: | ||
Deposits | 1,938 | (67,101) |
Short-term borrowings | 9,557 | 1,240 |
Long-term debt: | ||
Proceeds from issuance | 33,091 | 21,308 |
Repayment | (26,357) | (22,305) |
Preferred stock: | ||
Cash dividends paid | (711) | (872) |
Common stock: | ||
Proceeds from issuance | 242 | 446 |
Stock tendered for payment of withholding taxes | (272) | (311) |
Repurchased | (9,718) | (5,952) |
Cash dividends paid | (3,954) | (3,722) |
Net change in noncontrolling interests | (124) | (232) |
Other, net | (110) | (89) |
Net cash provided (used) by financing activities | 3,582 | (77,590) |
Net change in cash, cash equivalents, and restricted cash | (8,860) | (52,498) |
Cash, cash equivalents, and restricted cash at beginning of period | 173,287 | 215,947 |
Cash, cash equivalents, and restricted cash at end of period | 164,427 | 163,449 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 9,354 | 6,352 |
Cash paid for income taxes | $ 2,516 | $ 1,679 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1: Summary of Significant Accounting Policies Wells Fargo & Company is a diversified financial services company. We provide banking, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance through banking locations, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in foreign countries. When we refer to “Wells Fargo,” “the Company,” “we,” “our” or “us,” we mean Wells Fargo & Company and Subsidiaries (consolidated). Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2018 ( 2018 Form 10-K). To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements, income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including: • allowance for credit losses (Note 6 (Loans and Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 10 (Securitizations and Variable Interest Entities) and Note 11 (Mortgage Banking Activities)); • valuations of financial instruments (Note 15 (Derivatives) and Note 16 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 14 (Legal Actions)); and • income taxes. Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2018 Form 10-K. Accounting Standards Adopted in 2019 In first quarter 2019 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2018-16 – Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes • ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities • ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, including early adoption of ASU 2019-01 – Leases (Topic 842): Codification Improvements ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The Update adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the LIBOR to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The Update is applied prospectively for qualifying new or re-designated hedging relationships entered into on or after adoption date. We adopted the guidance in first quarter 2019. The adoption did not have an impact as we did not designate SOFR OIS as a benchmark interest rate in any hedging relationships. ASU 2017-08 changes the interest income recognition model for purchased callable debt securities carried at a premium, as the premium will be amortized to the earliest call date rather than to the contractual maturity date. Accounting for purchased callable debt securities held at a discount does not change, as the discount will continue to accrete to the contractual maturity date. The Update impacted our investments in purchased callable debt securities classified as available-for-sale (AFS) and held-to-maturity (HTM), which primarily consist of debt securities of U.S. states and political subdivisions. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment as of January 1, 2019, that decreased total stockholders’ equity by $111 million . Retained earnings was reduced by $592 million which reflects both the incremental premium amortization under the new guidance from the acquisition date of our impacted AFS and HTM debt securities through the date of adoption and the fact that the incremental premium amortization is not deductible for federal income tax purposes. Other comprehensive income (OCI) was increased by $481 million which reflects the corresponding adjustment to the adoption date unrealized gain or loss of impacted AFS debt securities. Going forward, interest income recognized prior to the call date will be reduced because the premium will be amortized over a shorter period. ASU 2016-02 modifies the guidance used by lessors and lessees to account for leasing transactions. For our transition to the new guidance, we elected several available practical expedients, including to not reassess the classification of our existing leases, any initial direct costs associated with our leases, or whether any existing contracts are or contain leases. In addition, we elected not to provide a comparative presentation for 2018 and 2017 financial statements. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment that increased retained earnings by $100 million related to deferred gains on our prior sale-leaseback transactions. We also recognized operating lease right-of-use (ROU) assets and liabilities, substantially all of which relate to our leasing of real estate as a lessee, of $4.9 billion and $5.6 billion , respectively. Leasing Activity AS LESSOR We lease equipment to our customers under financing or operating leases. Financing leases are presented in loans and are recorded at the discounted amounts of lease payments receivable plus the estimated residual value of the leased asset. Leveraged leases, which are a form of financing leases, are reduced by related non-recourse debt from third-party investors. Lease payments receivable reflect contractual lease payments adjusted for renewal or termination options that we believe the customer is reasonably certain to exercise. The residual value reflects our best estimate of the expected sales price for the equipment at lease termination based on sales history adjusted for recent trends in the expected exit markets. Many of our leases allow the customer to extend the lease at prevailing market terms or purchase the asset for fair value at lease termination. Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. Our risk to declines in residual values is further mitigated by the diversity of leased assets in our lease portfolio. In addition, we have several channels for re-leasing or marketing those assets. In connection with a lease, we may finance the customer’s purchase of other products or services from the equipment vendor and allocate the contract consideration between the use of the asset and the purchase of those products or services based on information obtained from the vendor. Amounts allocated to financing of vendor products or services are reported in loans as commercial and industrial loans, rather than as lease financing. Our primary income from financing leases is interest income recognized using the effective interest method. Variable lease revenues, such as reimbursement for property taxes associated with the leased asset, are included in lease income within noninterest income. Operating lease assets are presented in other assets, net of accumulated depreciation. Periodic depreciation expense is recorded on a straight-line basis to the estimated residual value over the estimated useful life of the leased asset. On a periodic basis, operating lease assets are reviewed for impairment and impairment loss is recognized if the carrying amount of operating lease assets exceeds fair value and is not recoverable. The carrying amount of leased assets is deemed not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. Depreciation of leased assets and impairment loss are presented in operating leases expense within other noninterest expense. Operating lease rental income for leased assets is recognized in lease income within noninterest income on a straight-line basis over the lease term. For leases of railcars, revenue for maintenance services provided under the lease is recognized in lease income. We elected to exclude from revenues and expenses any sales tax incurred on lease payments which are reimbursed by the lessee. Substantially all of our leased assets are protected against casualty loss through third party insurance. AS LESSEE We enter into lease agreements to obtain the right to use assets for our business operations, substantially all of which are real estate. Lease liabilities and ROU assets are recognized when we enter into operating or financing leases and represent our obligations and rights to use these assets over the period of the leases and may be re-measured for certain modifications, resolution of certain contingencies involving variable consideration, or our exercise of options (renewal, extension, or termination) under the lease. Operating lease liabilities include fixed and in-substance fixed payments for the contractual duration of the lease, adjusted for renewals or terminations which were deemed probable of exercise when measured. The lease payments are discounted using a rate determined when the lease is recognized. As we typically do not know the discount rate implicit in the lease, we estimate a discount rate that we believe approximates a collateralized borrowing rate for the estimated duration of the lease. The discount rate is updated when re-measurement events occur. The related operating lease ROU assets may differ from operating lease liabilities due to initial direct costs, deferred or prepaid lease payments and lease incentives. We present operating lease liabilities in accrued expenses and other liabilities and the related operating lease ROU assets in other assets. The amortization of operating lease ROU assets and the accretion of operating lease liabilities are reported together as fixed lease expense and are included in net occupancy expense within noninterest expense. The fixed lease expense is recognized on a straight-line basis over the life of the lease. Some of our operating leases include variable lease payments which are periodic adjustments of our payments for the use of the asset based on changes in factors such as consumer price indices, fair market value, tax rates imposed by taxing authorities, or lessor cost of insurance. To the extent not included in operating lease liabilities and operating lease ROU assets, these variable lease payments are recognized as incurred in net occupancy expense within noninterest expense. For substantially all of our leased assets, we account for consideration paid under the contract for maintenance or other services as lease payments. In addition, for certain asset classes, we have elected to exclude leases with original terms of less than one year from the operating lease ROU assets and lease liabilities. The related short-term lease expense is included in net occupancy expense. Finance lease (formerly capital lease) liabilities are presented in long-term debt and the associated finance ROU assets are presented in premises and equipment. Share Repurchases From time to time we may enter into private forward repurchase contracts, written repurchase plans pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, or a combination of the two to complement our open-market common stock repurchase strategies. The stock repurchase transactions allow us to manage our share repurchases in a manner consistent with our capital plans submitted annually under the Comprehensive Capital Analysis and Review (CCAR) and to provide an economic benefit to the Company. Our payments to the counterparties for the private forward repurchase contracts are recorded in permanent equity in the quarter paid and are not subject to re-measurement. The classification of the up-front payments as permanent equity assures that we have appropriate repurchase timing consistent with our capital plans, which contemplate a fixed dollar amount available per quarter for share repurchases pursuant to the Board of Governors of the Federal Reserve System (FRB) supervisory guidance. In return, the counterparty agrees to deliver a variable number of shares based on a per share discount to the volume-weighted average stock price over the contract period. There are no scenarios where the contracts would not either physically settle in shares or allow us to choose the settlement method. Our total number of outstanding shares of common stock is not reduced until settlement of the private share repurchase contract. We did not enter into any private forward repurchase contracts in second quarter 2019 and we had no unsettled private share repurchase contracts at June 30, 2019 . Under a Rule 10b5-1 repurchase plan, payments and receipt of repurchased shares settle on the same day and the shares repurchased reduce the total number of outstanding shares of common stock upon the settlement of each trade under the plan. Supplemental Cash Flow Information Significant noncash activities are presented in Table 1.1 . Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2019 2018 Trading debt securities retained from securitization of MLHFS $ 19,131 17,674 Transfers from loans to MLHFS 4,419 3,053 Transfers from loans to LHFS 92 2,149 Transfers from available-for-sale debt securities to held-to-maturity debt securities 6,071 10,371 Operating lease ROU assets acquired with operating lease liabilities (1) 5,302 — (1) The six months ended June 30, 2019 , balance includes $4.9 billion from adoption of ASU 2016-02 – Leases (Topic 842) and $402 million attributable to new leases and changes from modified leases. Subsequent Events We have evaluated the effects of events that have occurred subsequent to June 30, 2019 , and, except as disclosed elsewhere in the footnotes, there have been no material events that would require recognition in our second quarter 2019 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | Note 2: Business Combinations We regularly explore opportunities to acquire financial services companies and businesses. Generally, we do not make a public announcement about an acquisition opportunity until a definitive agreement has been signed. We completed no acquisitions during the first half of 2019 and had no business combinations pending as of June 30, 2019 . We closed the previously announced sale of our Institutional Retirement and Trust business (IRT) on July 1, 2019 , and we recognized a pre-tax gain of approximately $1.1 billion , which will be reflected in our third quarter 2019 net income. We will continue to administer client assets at the direction of the buyer for up to 24 months pursuant to a transition services agreement. The buyer will receive all post-closing revenue from the client assets and will pay us a fee for costs that we incur to administer the client assets during the transition period. The transition services fee will be recognized as other noninterest income. Assets under administration related to IRT were $918 billion at June 30, 2019. Transition period revenue, is expected to approximate transition period expenses and is subject to downward adjustment as client assets transition to the buyer's platform. |
Cash, Loan and Dividend Restric
Cash, Loan and Dividend Restrictions | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Cash, Loan and Dividend Restrictions | Note 3: Cash, Loan and Dividend Restrictions Cash and cash equivalents may be restricted as to usage or withdrawal. FRB regulations require that each of our subsidiary banks maintain reserve balances on deposit with the Federal Reserve Banks. Table 3.1 provides a summary of restrictions on cash equivalents in addition to the FRB reserve cash balance requirements . Table 3.1: Nature of Restrictions on Cash Equivalents (in millions) Jun 30, Dec 31, Average required reserve balance for FRB (1) $ 11,179 12,428 Reserve balance for non-U.S. central banks 556 517 Segregated for benefit of brokerage customers under federal and other brokerage regulations 956 1,135 Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs 19 147 (1) FRB required reserve balance represents average for the first half of 2019 and for the year ended December 31, 2018 . We have a state-chartered subsidiary bank that is subject to state regulations that limit dividends. Under these provisions and regulatory limitations, our national and state-chartered subsidiary banks could have declared additional dividends of $7.6 billion at June 30, 2019 , without obtaining prior regulatory approval. Our nonbank subsidiaries are also limited by certain federal and state statutory provisions and regulations covering the amount of dividends that may be paid in any given year. I n addition, under a Support Agreement dated June 28, 2017, as amended and restated on June 26, 2019, among Wells Fargo & Company, the parent holding company (the “Parent”), WFC Holdings, LLC, an intermediate holding company and subsidiary of the Parent (the “IHC”), Wells Fargo Bank, N.A., Wells Fargo Securities, LLC, Wells Fargo Clearing Services, LLC, and certain other direct and indirect subsidiaries of the Parent designated as material entities for resolution planning purposes or identified as related support entities in our resolution plan, the IHC may be restricted from making dividend payments to the Parent if certain liquidity and/or capital metrics fall below defined triggers or if the Parent's board of directors authorizes it to file a case under the U.S. Bankruptcy Code. Based on retained earnings at June 30, 2019 , our nonbank subsidiaries could have declared additional dividends of $25.1 billion at June 30, 2019 , without obtaining prior regulatory approval. For additional information see Note 3 ( Cash, Loan and Dividend Restrictions) in our 2018 Form 10-K. The FRB’s Capital Plan Rule (codified at 12 CFR 225.8 of Regulation Y) establishes capital planning and prior notice and approval requirements for capital distributions including dividends by certain large bank holding companies. The FRB has also published guidance regarding its supervisory expectations for capital planning, including capital policies regarding the process relating to common stock dividend and repurchase decisions in the FRB’s SR Letter 15-18. The effect of this guidance is to require the approval of the FRB (or specifically under the Capital Plan Rule, a notice of non-objection) for the Company to repurchase or redeem common or perpetual preferred stock as well as to raise the per share quarterly dividend from its current level of $0.51 per share as declared by the Company’s Board of Directors on July 23, 2019 , payable on September 1, 2019 . |
Trading Activities
Trading Activities | 6 Months Ended |
Jun. 30, 2019 | |
Trading Activities [Abstract] | |
Trading Activities | Note 4: Trading Activities Table 4.1 presents a summary of our trading assets and liabilities measured at fair value through earnings . Table 4.1: Trading Assets and Liabilities Jun 30, Dec 31, (in millions) 2019 2018 Trading assets: Debt securities $ 70,208 69,989 Equity securities 23,327 19,449 Loans held for sale 1,118 1,469 Gross trading derivative assets 34,683 29,216 Netting (1) (22,827 ) (19,807 ) Total trading derivative assets 11,856 9,409 Total trading assets 106,509 100,316 Trading liabilities: Short sale 15,955 19,720 Gross trading derivative liabilities 33,458 28,717 Netting (1) (26,417 ) (21,178 ) Total trading derivative liabilities 7,041 7,539 Total trading liabilities $ 22,996 27,259 (1) Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments. Table 4.2 provides a summary of the net interest income earned from trading securities, and net gains and losses due to the realized and unrealized gains and losses from trading activities. Net interest income includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased. Table 4.2: Net Interest Income and Net Gains (Losses) on Trading Activities Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Interest income: Debt securities $ 740 689 1,533 1,320 Equity securities 143 128 258 269 Loans held for sale 20 15 43 23 Total interest income 903 832 1,834 1,612 Less: Interest expense 127 144 263 272 Net interest income 776 688 1,571 1,340 Net gains (losses) from trading activities (1): Debt securities 401 (140 ) 1,089 (639 ) Equity securities 1,236 (635 ) 3,303 (1,104 ) Loans held for sale (4 ) 7 10 15 Derivatives (2) (1,404 ) 959 (3,816 ) 2,162 Total net gains from trading activities 229 191 586 434 Total trading-related net interest and noninterest income $ 1,005 879 2,157 1,774 (1) Represents realized gains (losses) and unrealized gains (losses) due to changes in fair value of our trading positions. (2) Excludes economic hedging of mortgage banking and asset/liability management activities, for which hedge results (realized and unrealized) are reported with the respective hedged activities. |
AFS and HTM Debt Securities
AFS and HTM Debt Securities | 6 Months Ended |
Jun. 30, 2019 | |
AFS and HTM Debt Securities [Abstract] | |
AFS and HTM Debt Securities | Note 5: Available-for-Sale and Held-to-Maturity Debt Securities Table 5.1 provides the amortized cost and fair value by major categories of available-for-sale debt securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for available-for-sale debt securities are reported on an after-tax basis as a component of cumulative OCI. Information on debt securities held for trading is included in Note 4 (Trading Activities). Table 5.1: Amortized Cost and Fair Value (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 15,334 2 (17 ) 15,319 Securities of U.S. states and political subdivisions (1) 44,205 968 (78 ) 45,095 Mortgage-backed securities: Federal agencies 154,549 1,617 (308 ) 155,858 Residential 1,241 23 (1 ) 1,263 Commercial 4,140 45 (5 ) 4,180 Total mortgage-backed securities 159,930 1,685 (314 ) 161,301 Corporate debt securities 6,058 208 (36 ) 6,230 Collateralized loan and other debt obligations (2) 32,944 165 (114 ) 32,995 Other (3) 4,987 70 (14 ) 5,043 Total available-for-sale debt securities 263,458 3,098 (573 ) 265,983 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,766 574 (4 ) 45,336 Securities of U.S. states and political subdivisions 7,948 182 (5 ) 8,125 Federal agency and other mortgage-backed securities (4) 93,105 1,312 (71 ) 94,346 Collateralized loan obligations 57 — — 57 Total held-to-maturity debt securities 145,876 2,068 (80 ) 147,864 Total $ 409,334 5,166 (653 ) 413,847 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 13,451 3 (106 ) 13,348 Securities of U.S. states and political subdivisions (1) 48,994 716 (446 ) 49,264 Mortgage-backed securities: Federal agencies 155,974 369 (3,140 ) 153,203 Residential 2,638 142 (5 ) 2,775 Commercial 4,207 40 (22 ) 4,225 Total mortgage-backed securities 162,819 551 (3,167 ) 160,203 Corporate debt securities 6,230 131 (90 ) 6,271 Collateralized loan and other debt obligations (2) 35,581 158 (396 ) 35,343 Other (3) 5,396 100 (13 ) 5,483 Total available-for-sale debt securities 272,471 1,659 (4,218 ) 269,912 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,751 4 (415 ) 44,340 Securities of U.S. states and political subdivisions 6,286 30 (116 ) 6,200 Federal agency and other mortgage-backed securities (4) 93,685 112 (2,288 ) 91,509 Collateralized loan obligations 66 — — 66 Total held-to-maturity debt securities 144,788 146 (2,819 ) 142,115 Total $ 417,259 1,805 (7,037 ) 412,027 (1) Includes investments in tax-exempt preferred debt securities issued by investment funds or trusts that predominantly invest in tax-exempt municipal securities. The cost basis and fair value of these types of securities was $5.8 billion each at June 30, 2019 , and $6.3 billion each at December 31, 2018 . (2) Includes collateralized debt obligations (CDOs) with a cost basis and fair value of $521 million and $649 million , respectively, at June 30, 2019 , and $662 million and $800 million , respectively, at December 31, 2018 . (3) Largely includes asset-backed securities collateralized by student loans. (4) Predominantly consists of federal agency mortgage-backed securities at both June 30, 2019 and December 31, 2018 . Gross Unrealized Losses and Fair Value Table 5.2 shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity debt securities by length of time those individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related other-than-temporary impairment (OTTI) write- downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down. Table 5.2: Gross Unrealized Losses and Fair Value Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (2 ) 5,780 (15 ) 5,511 (17 ) 11,291 Securities of U.S. states and political subdivisions (32 ) 5,003 (46 ) 2,696 (78 ) 7,699 Mortgage-backed securities: Federal agencies (2 ) 1,203 (306 ) 32,179 (308 ) 33,382 Residential (1 ) 180 — — (1 ) 180 Commercial (3 ) 837 (2 ) 89 (5 ) 926 Total mortgage-backed securities (6 ) 2,220 (308 ) 32,268 (314 ) 34,488 Corporate debt securities (11 ) 470 (25 ) 281 (36 ) 751 Collateralized loan and other debt obligations (58 ) 12,847 (56 ) 7,239 (114 ) 20,086 Other (8 ) 1,222 (6 ) 246 (14 ) 1,468 Total available-for-sale debt securities (117 ) 27,542 (456 ) 48,241 (573 ) 75,783 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies — — (4 ) 1,613 (4 ) 1,613 Securities of U.S. states and political subdivisions — — (5 ) 514 (5 ) 514 Federal agency and other mortgage-backed securities (1 ) 15 (70 ) 17,392 (71 ) 17,407 Collateralized loan obligations — — — — — — Total held-to-maturity debt securities (1 ) 15 (79 ) 19,519 (80 ) 19,534 Total $ (118 ) 27,557 (535 ) 67,760 (653 ) 95,317 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 498 (105 ) 6,204 (106 ) 6,702 Securities of U.S. states and political subdivisions (73 ) 9,746 (373 ) 9,017 (446 ) 18,763 Mortgage-backed securities: Federal agencies (42 ) 10,979 (3,098 ) 112,252 (3,140 ) 123,231 Residential (3 ) 398 (2 ) 69 (5 ) 467 Commercial (20 ) 1,972 (2 ) 79 (22 ) 2,051 Total mortgage-backed securities (65 ) 13,349 (3,102 ) 112,400 (3,167 ) 125,749 Corporate debt securities (64 ) 1,965 (26 ) 298 (90 ) 2,263 Collateralized loan and other debt obligations (388 ) 28,306 (8 ) 553 (396 ) 28,859 Other (7 ) 819 (6 ) 159 (13 ) 978 Total available-for-sale debt securities (598 ) 54,683 (3,620 ) 128,631 (4,218 ) 183,314 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (3 ) 895 (412 ) 41,083 (415 ) 41,978 Securities of U.S. states and political subdivisions (4 ) 598 (112 ) 3,992 (116 ) 4,590 Federal agency and other mortgage-backed securities (5 ) 4,635 (2,283 ) 77,741 (2,288 ) 82,376 Collateralized loan obligations — — — — — — Total held-to-maturity debt securities (12 ) 6,128 (2,807 ) 122,816 (2,819 ) 128,944 Total $ (610 ) 60,811 (6,427 ) 251,447 (7,037 ) 312,258 We have assessed each debt security with gross unrealized losses included in the previous table for credit impairment. As part of that assessment we evaluated and concluded that we do not intend to sell any of the debt securities and that it is more likely than not that we will not be required to sell prior to recovery of the amortized cost basis. We evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the debt securities’ amortized cost basis. For descriptions of the factors we consider when analyzing debt securities for impairment, see Note 1 (Summary of Significant Accounting Policies) and Note 5 (Available-for-Sale and Held-to-Maturity Debt Securities) in our 2018 Form 10-K. There were no material changes to our methodologies for assessing impairment in the first half of 2019 . Table 5.3 shows the gross unrealized losses and fair value of the available-for-sale and held-to-maturity debt securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors Service (Moody’s). Credit ratings express opinions about the credit quality of a debt security. Debt securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, debt securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade debt securities. We have also included debt securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the debt securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated debt securities categorized as investment grade based on internal credit grades were $9 million and $2.3 billion , respectively, at June 30, 2019 , and $20 million and $5.2 billion , respectively, at December 31, 2018 . If an internal credit grade was not assigned, we categorized the debt security as non-investment grade. Table 5.3: Gross Unrealized Losses and Fair Value by Investment Grade Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (17 ) 11,291 — — Securities of U.S. states and political subdivisions (69 ) 7,480 (9 ) 219 Mortgage-backed securities: Federal agencies (308 ) 33,382 — — Residential (1 ) 180 — — Commercial (4 ) 915 (1 ) 11 Total mortgage-backed securities (313 ) 34,477 (1 ) 11 Corporate debt securities (6 ) 299 (30 ) 452 Collateralized loan and other debt obligations (114 ) 20,086 — — Other (8 ) 1,120 (6 ) 348 Total available-for-sale debt securities (527 ) 74,753 (46 ) 1,030 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (4 ) 1,613 — — Securities of U.S. states and political subdivisions (5 ) 514 — — Federal agency and other mortgage-backed securities (70 ) 17,374 (1 ) 33 Collateralized loan obligations — — — — Total held-to-maturity debt securities (79 ) 19,501 (1 ) 33 Total $ (606 ) 94,254 (47 ) 1,063 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (106 ) 6,702 — — Securities of U.S. states and political subdivisions (425 ) 18,447 (21 ) 316 Mortgage-backed securities: Federal agencies (3,140 ) 123,231 — — Residential (2 ) 295 (3 ) 172 Commercial (20 ) 1,999 (2 ) 52 Total mortgage-backed securities (3,162 ) 125,525 (5 ) 224 Corporate debt securities (17 ) 791 (73 ) 1,472 Collateralized loan and other debt obligations (396 ) 28,859 — — Other (7 ) 726 (6 ) 252 Total available-for-sale debt securities (4,113 ) 181,050 (105 ) 2,264 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (415 ) 41,978 — — Securities of U.S. states and political subdivisions (116 ) 4,590 — — Federal agency and other mortgage-backed securities (2,278 ) 81,977 (10 ) 399 Collateralized loan obligations — — — — Total held-to-maturity debt securities (2,809 ) 128,545 (10 ) 399 Total $ (6,922 ) 309,595 (115 ) 2,663 Contractual Maturities Table 5.4 shows the fair value and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities by contractual maturity. The remaining contractual principal maturities for mortgage-backed securities (MBS) do not consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. Table 5.4: Available-for Sale Debt Securities - Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield June 30, 2019 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 15,319 1.94 % $ 5,521 1.69 % $ 9,747 2.08 % $ 51 1.89 % $ — — % Securities of U.S. states and political subdivisions 45,095 4.92 2,016 3.34 5,135 3.34 4,322 3.54 33,622 5.40 Mortgage-backed securities: Federal agencies 155,858 3.50 — — 137 3.48 1,665 2.56 154,056 3.51 Residential 1,263 2.80 — — — — — — 1,263 2.80 Commercial 4,180 3.71 — — — — 342 3.61 3,838 3.72 Total mortgage-backed securities 161,301 3.50 — — 137 3.48 2,007 2.74 159,157 3.51 Corporate debt securities 6,230 5.01 484 6.17 2,384 5.00 2,737 4.69 625 5.59 Collateralized loan and other debt obligations 32,995 3.96 — — 8 5.02 10,005 4.03 22,982 3.93 Other 5,043 3.10 12 3.34 749 3.80 1,424 2.13 2,858 3.40 Total available-for-sale debt securities at fair value $ 265,983 3.73 % $ 8,033 2.38 % $ 18,160 2.96 % $ 20,546 3.75 % $ 219,244 3.85 % (1) Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives. Table 5.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 5.5: Held-to-Maturity Debt Securities - Amortized Cost by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield June 30, 2019 Held-to-maturity debt securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,766 2.12 % $ — — % $ 34,667 2.07 % $ 10,099 2.28 % $ — — % Securities of U.S. states and political subdivisions 7,948 4.97 — — 75 6.05 1,570 4.89 6,303 4.98 Federal agency and other mortgage-backed securities 93,105 3.12 — — 15 3.77 — — 93,090 3.12 Collateralized loan obligations 57 3.78 — — — — 57 3.78 — — Total held-to-maturity debt securities at amortized cost $ 145,876 2.91 % $ — — % $ 34,757 2.08 % $ 11,726 2.64 % $ 99,393 3.24 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 5.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 5.6: Held-to-Maturity Debt Securities - Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Amount Amount Amount Amount June 30, 2019 Held-to-maturity debt securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,336 — 34,962 10,374 — Securities of U.S. states and political subdivisions 8,125 — 75 1,625 6,425 Federal agency and other mortgage-backed securities 94,346 — 15 — 94,331 Collateralized loan obligations 57 — — 57 — Total held-to-maturity debt securities at fair value $ 147,864 — 35,052 12,056 100,756 Realized Gains and Losses Table 5.7 shows the gross realized gains and losses on sales and OTTI write-downs related to available-for-sale debt securities. Table 5.7: Realized Gains and Losses Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Gross realized gains $ 29 53 202 74 Gross realized losses (2 ) (4 ) (5 ) (14 ) OTTI write-downs (7 ) (8 ) (52 ) (18 ) Net realized gains from available-for-sale debt securities $ 20 41 145 42 Other-Than-Temporarily Impaired Debt Securities Table 5.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities. There were no OTTI write-downs on held-to-maturity debt securities during the first half of 2019 and 2018 . Table 5.8: Detail of OTTI Write-downs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Debt securities OTTI write-downs included in earnings: Securities of U.S. states and political subdivisions $ 4 — 33 2 Mortgage-backed securities: Residential — 1 — 2 Commercial 3 7 17 14 Corporate debt securities — — 2 — Total debt securities OTTI write-downs included in earnings $ 7 8 52 18 Table 5.9 shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities. Table 5.9: OTTI Write-downs Included in Earnings and the Related Changes in OCI Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 7 8 23 17 Intent-to-sell OTTI — — 29 1 Total recorded as part of gross realized losses 7 8 52 18 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (1 ) — (1 ) (2 ) Residential mortgage-backed securities — — (1 ) (1 ) Commercial mortgage-backed securities — (11 ) 1 (1 ) Total changes to OCI for non-credit-related OTTI (1 ) (11 ) (1 ) (4 ) Total OTTI losses recorded on debt securities $ 6 (3 ) 51 14 (1) Represents amounts recorded to OCI for impairment of debt securities, due to factors other than credit, that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of debt securities due to non-credit factors. Table 5.10 presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as “credit-impaired” debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss. Table 5.10: Rollforward of OTTI Credit Loss Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Credit loss recognized, beginning of period $ 232 649 562 742 Additions: For securities with initial credit impairments 4 — 6 — For securities with previous credit impairments 3 8 17 17 Total additions 7 8 23 17 Reductions: For securities sold, matured, or intended/required to be sold (23 ) (30 ) (369 ) (131 ) For recoveries of previous credit impairments (1) — (1 ) — (2 ) Total reductions (23 ) (31 ) (369 ) (133 ) Credit loss recognized, end of period $ 216 626 216 626 (1) Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses | Note 6: Loans and Allowance for Credit Losses Table 6.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include unearned income, net deferred loan fees or costs, and unamortized discounts and premiums. These amounts were less than 1% of our total loans outstanding at June 30, 2019 and December 31, 2018 . Table 6.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 348,846 350,199 Real estate mortgage 123,008 121,014 Real estate construction 21,067 22,496 Lease financing 19,324 19,696 Total commercial 512,245 513,405 Consumer: Real estate 1-4 family first mortgage 286,427 285,065 Real estate 1-4 family junior lien mortgage 32,068 34,398 Credit card 38,820 39,025 Automobile 45,664 45,069 Other revolving credit and installment 34,654 36,148 Total consumer 437,633 439,705 Total loans $ 949,878 953,110 Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. Table 6.2 presents total commercial foreign loans outstanding by class of financing receivable. Table 6.2: Commercial Foreign Loans Outstanding (in millions) Jun 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 63,296 62,564 Real estate mortgage 6,801 6,731 Real estate construction 1,287 1,011 Lease financing 1,215 1,159 Total commercial foreign loans $ 72,599 71,465 Loan Purchases, Sales, and Transfers Table 6.3 summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity also includes participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans, loans for which we have elected the fair value option, and government insured/ guaranteed real estate 1-4 family first mortgage loans because their loan activity normally does not impact the allowance for credit losses. Table 6.3: Loan Purchases, Sales, and Transfers 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Purchases $ 670 5 675 398 7 405 Sales (535 ) (153 ) (688 ) (294 ) (88 ) (382 ) Transfers (to) from MLHFS/LHFS (89 ) (1,852 ) (1,941 ) (100 ) (72 ) (172 ) Six months ended June 30, Purchases $ 999 8 1,007 654 7 661 Sales (956 ) (332 ) (1,288 ) (754 ) (88 ) (842 ) Transfers (to) from MLHFS/LHFS (92 ) (1,852 ) (1,944 ) (520 ) (1,625 ) (2,145 ) Commitments to Lend A commitment to lend is a legally binding agreement to lend funds to a customer, usually at a stated interest rate, if funded, and for specific purposes and time periods. We generally require a fee to extend such commitments. Certain commitments are subject to loan agreements with covenants regarding the financial performance of the customer or borrowing base formulas on an ongoing basis that must be met before we are required to fund the commitment. We may reduce or cancel consumer commitments, including home equity lines and credit card lines, in accordance with the contracts and applicable law. We may, as a representative for other lenders, advance funds or provide for the issuance of letters of credit under syndicated loan or letter of credit agreements. Any advances are generally repaid in less than a week and would normally require default of both the customer and another lender to expose us to loss. The unfunded amount of these temporary advance arrangements totaled approximately $94 billion and $91 billion at June 30, 2019 and December 31, 2018 , respectively. We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At June 30, 2019 , and December 31, 2018 , we had $1.0 billion and $919 million , respectively, of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments) for additional information on standby letters of credit. When we make commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments is expected to expire without being used by the customer. In addition, we manage the potential risk in commitments to lend by limiting the total amount of commitments, both by individual customer and in total, by monitoring the size and maturity structure of these commitments and by applying the same credit standards for these commitments as for all of our credit activities. For loans and commitments to lend, we generally require collateral or a guarantee. We may require various types of collateral, including commercial and consumer real estate, automobiles, other short-term liquid assets such as accounts receivable or inventory and long-lived assets, such as equipment and other business assets. Collateral requirements for each loan or commitment may vary based on the loan product and our assessment of a customer’s credit risk according to the specific credit underwriting, including credit terms and structure. The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in Table 6.4 . The table excludes the issued standby and commercial letters of credit and temporary advance arrangements described above. Table 6.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 329,751 330,492 Real estate mortgage 7,905 6,984 Real estate construction 15,459 16,400 Total commercial 353,115 353,876 Consumer: Real estate 1-4 family first mortgage 43,427 29,736 Real estate 1-4 family junior lien mortgage 37,454 37,719 Credit card 113,306 109,840 Other revolving credit and installment 26,676 27,530 Total consumer 220,863 204,825 Total unfunded credit commitments $ 573,978 558,701 Allowance for Credit Losses Table 6.5 presents the allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 6.5: Allowance for Credit Losses Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Balance, beginning of period $ 10,821 11,313 10,707 11,960 Provision for credit losses 503 452 1,348 643 Interest income on certain impaired loans (1) (39 ) (43 ) (78 ) (86 ) Loan charge-offs: Commercial: Commercial and industrial (205 ) (134 ) (381 ) (298 ) Real estate mortgage (14 ) (19 ) (26 ) (21 ) Real estate construction — — (1 ) — Lease financing (12 ) (20 ) (23 ) (37 ) Total commercial (231 ) (173 ) (431 ) (356 ) Consumer: Real estate 1-4 family first mortgage (27 ) (55 ) (70 ) (96 ) Real estate 1-4 family junior lien mortgage (29 ) (47 ) (63 ) (94 ) Credit card (437 ) (404 ) (874 ) (809 ) Automobile (142 ) (216 ) (329 ) (516 ) Other revolving credit and installment (167 ) (164 ) (329 ) (344 ) Total consumer (802 ) (886 ) (1,665 ) (1,859 ) Total loan charge-offs (1,033 ) (1,059 ) (2,096 ) (2,215 ) Loan recoveries: Commercial: Commercial and industrial 46 76 89 155 Real estate mortgage 10 19 16 36 Real estate construction 2 6 5 10 Lease financing 8 5 11 10 Total commercial 66 106 121 211 Consumer: Real estate 1-4 family first mortgage 57 78 112 137 Real estate 1-4 family junior lien mortgage 48 60 91 115 Credit card 88 81 173 154 Automobile 90 103 186 195 Other revolving credit and installment 31 29 65 60 Total consumer 314 351 627 661 Total loan recoveries 380 457 748 872 Net loan charge-offs (653 ) (602 ) (1,348 ) (1,343 ) Other (29 ) (10 ) (26 ) (64 ) Balance, end of period $ 10,603 11,110 10,603 11,110 Components: Allowance for loan losses $ 9,692 10,193 9,692 10,193 Allowance for unfunded credit commitments 911 917 911 917 Allowance for credit losses $ 10,603 11,110 10,603 11,110 Net loan charge-offs (annualized) as a percentage of average total loans 0.28 % 0.26 0.29 0.29 Allowance for loan losses as a percentage of total loans 1.02 1.08 1.02 1.08 Allowance for credit losses as a percentage of total loans 1.12 1.18 1.12 1.18 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize changes in allowance attributable to the passage of time as interest income. Table 6.6 summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. Table 6.6: Allowance Activity by Portfolio Segment 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 6,428 4,393 10,821 6,708 4,605 11,313 Provision for credit losses 46 457 503 89 363 452 Interest income on certain impaired loans (14 ) (25 ) (39 ) (14 ) (29 ) (43 ) Loan charge-offs (231 ) (802 ) (1,033 ) (173 ) (886 ) (1,059 ) Loan recoveries 66 314 380 106 351 457 Net loan charge-offs (165 ) (488 ) (653 ) (67 ) (535 ) (602 ) Other 3 (32 ) (29 ) (5 ) (5 ) (10 ) Balance, end of period $ 6,298 4,305 10,603 6,711 4,399 11,110 Six months ended June 30, Balance, beginning of period $ 6,417 4,290 10,707 6,632 5,328 11,960 Provision for credit losses 210 1,138 1,348 258 385 643 Interest income on certain impaired loans (25 ) (53 ) (78 ) (25 ) (61 ) (86 ) Loan charge-offs (431 ) (1,665 ) (2,096 ) (356 ) (1,859 ) (2,215 ) Loan recoveries 121 627 748 211 661 872 Net loan charge-offs (310 ) (1,038 ) (1,348 ) (145 ) (1,198 ) (1,343 ) Other 6 (32 ) (26 ) (9 ) (55 ) (64 ) Balance, end of period $ 6,298 4,305 10,603 6,711 4,399 11,110 Table 6.7 disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Table 6.7: Allowance by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total June 30, 2019 Collectively evaluated (1) $ 5,831 3,436 9,267 508,798 425,818 934,616 Individually evaluated (2) 467 869 1,336 3,447 10,641 14,088 PCI (3) — — — — 1,174 1,174 Total $ 6,298 4,305 10,603 512,245 437,633 949,878 December 31, 2018 Collectively evaluated (1) $ 5,903 3,361 9,264 510,180 421,574 931,754 Individually evaluated (2) 514 929 1,443 3,221 13,126 16,347 PCI (3) — — — 4 5,005 5,009 Total $ 6,417 4,290 10,707 513,405 439,705 953,110 (1) Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies , and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables , and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV). We obtain FICO scores at loan origination and the scores are generally updated at least quarterly, except in limited circumstances, including compliance with the Fair Credit Reporting Act (FCRA). Generally, the LTV and CLTV indicators are updated in the second month of each quarter, with updates no older than March 31, 2019 . COMMERCIAL CREDIT QUALITY INDICATORS In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally, commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory agencies. Table 6.8 provides a breakdown of outstanding commercial loans by risk category. Criticized commercial loans at June 30, 2019 , included $2.5 billion on nonaccrual status that have been written down to net realizable value. For additional information on nonaccrual loans, see Table 6.13. Table 6.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2019 By risk category: Pass $ 334,034 118,768 20,883 18,225 491,910 Criticized 14,812 4,240 184 1,099 20,335 Total commercial loans (excluding PCI) 348,846 123,008 21,067 19,324 512,245 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 348,846 123,008 21,067 19,324 512,245 December 31, 2018 By risk category: Pass $ 335,412 116,514 22,207 18,671 492,804 Criticized 14,783 4,500 289 1,025 20,597 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 Table 6.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 6.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2019 By delinquency status: Current-29 days past due (DPD) and still accruing $ 346,688 122,101 20,854 19,101 508,744 30-89 DPD and still accruing 507 146 177 160 990 90+ DPD and still accruing 17 24 — — 41 Nonaccrual loans 1,634 737 36 63 2,470 Total commercial loans (excluding PCI) 348,846 123,008 21,067 19,324 512,245 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 348,846 123,008 21,067 19,324 512,245 December 31, 2018 By delinquency status: Current-29 DPD and still accruing $ 348,158 120,176 22,411 19,443 510,188 30-89 DPD and still accruing 508 207 53 163 931 90+ DPD and still accruing 43 51 — — 94 Nonaccrual loans 1,486 580 32 90 2,188 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present unique risks. Loan delinquency, FICO credit scores and LTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment. Many of our loss estimation techniques used for the allowance for credit losses rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. Table 6.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 6.10: Consumer Loans by Delinquency Status (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total June 30, 2019 By delinquency status: Current-29 DPD 271,144 31,374 37,925 44,554 34,383 419,380 30-59 DPD 1,311 250 258 808 97 2,724 60-89 DPD 436 115 188 232 70 1,041 90-119 DPD 196 63 152 69 68 548 120-179 DPD 177 70 297 1 22 567 180+ DPD 630 181 — — 14 825 Government insured/guaranteed loans (1) 11,172 — — — — 11,172 Loans held at fair value 202 — — — — 202 Total consumer loans (excluding PCI) 285,268 32,053 38,820 45,664 34,654 436,459 Total consumer PCI loans (carrying value) (2) 1,159 15 — — — 1,174 Total consumer loans 286,427 32,068 38,820 45,664 34,654 437,633 December 31, 2018 By delinquency status: Current-29 DPD 263,881 33,644 38,008 43,604 35,794 414,931 30-59 DPD 1,411 247 292 1,040 140 3,130 60-89 DPD 549 126 212 314 87 1,288 90-119 DPD 257 74 192 109 80 712 120-179 DPD 225 77 320 2 27 651 180+ DPD 822 213 1 — 20 1,056 Government insured/guaranteed loans (1) 12,688 — — — — 12,688 Loans held at fair value 244 — — — — 244 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $6.5 billion at June 30, 2019 , compared with $7.7 billion at December 31, 2018 . (2) 23% of the adjusted unpaid principal balance for consumer PCI loans are 30+ DPD at June 30, 2019 , compared with 18% at December 31, 2018 . Of the $1.9 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at June 30, 2019 , $739 million was accruing, compared with $2.4 billion past due and $885 million accruing at December 31, 2018 . Real estate 1-4 family first mortgage loans 180 days or more past due totaled $630 million , or 0.2% of total first mortgages (excluding PCI), at June 30, 2019 , compared with $822 million , or 0.3% , at December 31, 2018 . Table 6.11 provides a breakdown of our consumer portfolio by FICO. Substantially all of the scored consumer portfolio has an updated FICO of 680 and above, reflecting a strong current borrower credit profile. FICO is not available for certain loan types, or may not be required if we deem it unnecessary due to strong collateral and other borrower attributes. Substantially all loans not requiring a FICO score are securities-based loans originated through retail brokerage, and totaled $8.6 billion at June 30, 2019 , and $8.9 billion at December 31, 2018 . Table 6.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total June 30, 2019 By FICO: < 600 3,539 1,297 3,064 6,442 707 15,049 600-639 2,559 897 2,670 4,498 677 11,301 640-679 5,276 1,720 6,313 6,386 1,757 21,452 680-719 12,898 3,620 9,415 7,475 3,283 36,691 720-759 27,807 4,947 8,022 7,051 4,164 51,991 760-799 61,007 6,001 5,323 6,240 4,999 83,570 800+ 157,049 12,346 3,879 7,464 8,011 188,749 No FICO available 3,759 1,225 134 108 2,434 7,660 FICO not required — — — — 8,622 8,622 Government insured/guaranteed loans (1) 11,374 — — — — 11,374 Total consumer loans (excluding PCI) 285,268 32,053 38,820 45,664 34,654 436,459 Total consumer PCI loans (carrying value) (2) 1,159 15 — — — 1,174 Total consumer loans 286,427 32,068 38,820 45,664 34,654 437,633 December 31, 2018 By FICO: < 600 4,273 1,454 3,292 7,071 697 16,787 600-639 2,974 994 2,777 4,431 725 11,901 640-679 5,810 1,898 6,464 6,225 1,822 22,219 680-719 13,568 3,908 9,445 7,354 3,384 37,659 720-759 27,258 5,323 7,949 6,853 4,395 51,778 760-799 57,193 6,315 5,227 5,947 5,322 80,004 800+ 151,465 13,190 3,794 7,099 8,411 183,959 No FICO available 4,604 1,299 77 89 2,507 8,576 FICO not required — — — — 8,885 8,885 Government insured/guaranteed loans (1) 12,932 — — — — 12,932 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) 44% of the adjusted unpaid principal balance for consumer PCI loans have FICO scores less than 680 and 16% where no FICO is available to us at June 30, 2019 , compared with 45% and 15% , respectively, at December 31, 2018 . LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage (including unused line amounts for credit line products) ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties. Table 6.12 shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV due to industry data availability and portfolios acquired from or serviced by other institutions. Table 6.12: Consumer Loans by LTV/CLTV June 30, 2019 December 31, 2018 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 145,884 15,004 160,888 147,666 15,753 163,419 60.01-80% 110,919 10,452 121,371 104,477 11,183 115,660 80.01-100% 14,763 4,387 19,150 12,372 4,874 17,246 100.01-120% (1) 1,052 1,350 2,402 1,211 1,596 2,807 > 120% (1) 412 480 892 484 578 1,062 No LTV/CLTV available 864 380 1,244 935 397 1,332 Government insured/guaranteed loans (2) 11,374 — 11,374 12,932 — 12,932 Total consumer loans (excluding PCI) 285,268 32,053 317,321 280,077 34,381 314,458 Total consumer PCI loans (carrying value) (3) 1,159 15 1,174 4,988 17 5,005 Total consumer loans $ 286,427 32,068 318,495 285,065 34,398 319,463 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (3) 12% of the adjusted unpaid principal balance for consumer PCI loans have LTV/CLTV amounts greater than 80% at June 30, 2019 , compared with 10% at December 31, 2018 . NONACCRUAL LOANS Table 6.13 provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. Table 6.13: Nonaccrual Loans (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 1,634 1,486 Real estate mortgage 737 580 Real estate construction 36 32 Lease financing 63 90 Total commercial 2,470 2,188 Consumer: Real estate 1-4 family first mortgage 2,425 3,183 Real estate 1-4 family junior lien mortgage 868 945 Automobile 115 130 Other revolving credit and installment 44 50 Total consumer 3,452 4,308 Total nonaccrual loans (excluding PCI) $ 5,922 6,496 LOANS IN PROCESS OF FORECLOSURE Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $3.7 billion and $4.6 billion at June 30, 2019 , and December 31, 2018 , respectively, which included $2.9 billion and $3.2 billion LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $156 million at June 30, 2019 , and $370 million at December 31, 2018 , are not included in past due and still accruing loans even when they are 90 days or more contractually past due. PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. Table 6.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 6.14: Loans 90 Days or More Past Due and Still Accruing (1) (in millions) Jun 30, 2019 Dec 31, 2018 Total (excluding PCI): $ 7,258 8,704 Less: FHA insured/VA guaranteed (1) 6,478 7,725 Total, not government insured/guaranteed $ 780 979 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 17 43 Real estate mortgage 24 51 Real estate construction — — Total commercial 41 94 Consumer: Real estate 1-4 family first mortgage 108 124 Real estate 1-4 family junior lien mortgage 27 32 Credit card 449 513 Automobile 63 114 Other revolving credit and installment 92 102 Total consumer 739 885 Total, not government insured/guaranteed $ 780 979 (1) Represents loans whose repayments are predominantly IMPAIRED LOANS Table 6.15 summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. Table 6.15 includes trial modifications that totaled $127 million at June 30, 2019 , and $149 million at December 31, 2018 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 6.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2019 Commercial: Commercial and industrial $ 2,963 2,169 1,991 303 Real estate mortgage 1,297 1,142 1,078 134 Real estate construction 82 54 53 10 Lease financing 91 82 82 20 Total commercial 4,433 3,447 3,204 467 Consumer: Real estate 1-4 family first mortgage (2) 8,803 8,307 3,782 451 Real estate 1-4 family junior lien mortgage 1,781 1,603 1,040 174 Credit card 487 486 486 194 Automobile 144 85 45 9 Other revolving credit and installment 166 160 142 41 Total consumer (3) 11,381 10,641 5,495 869 Total impaired loans (excluding PCI) $ 15,814 14,088 8,699 1,336 December 31, 2018 Commercial: Commercial and industrial $ 3,057 2,030 1,730 319 Real estate mortgage 1,228 1,032 1,009 154 Real estate construction 74 47 46 9 Lease financing 146 112 112 32 Total commercial 4,505 3,221 2,897 514 Consumer: Real estate 1-4 family first mortgage 12,309 10,738 4,420 525 Real estate 1-4 family junior lien mortgage 1,886 1,694 1,133 183 Credit card 449 449 449 172 Automobile 153 89 43 8 Other revolving credit and installment 162 156 136 41 Total consumer (3) 14,959 13,126 6,181 929 Total impaired loans (excluding PCI) $ 19,464 16,347 9,078 1,443 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Impaired loans includes reduction of $1.7 billion reclassified to MLHFS. (3) Includes the recorded investment of $1.2 billion at June 30, 2019 , and $1.3 billion at December 31, 2018, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Impaired loans may also have limited, if any, allowance when the recorded investment of the loan approximates estimated net realizable value as a result of charge-offs prior to a TDR modification. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $478 million and $513 million at June 30, 2019 and December 31, 2018 , respectively. Table 6.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Table 6.16: Average Recorded Investment in Impaired Loans Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 2,285 50 2,212 43 2,249 73 2,318 79 Real estate mortgage 1,116 16 1,299 22 1,079 31 1,266 50 Real estate construction 55 — 62 1 53 2 60 2 Lease financing 88 — 138 1 98 — 132 1 Total commercial 3,544 66 3,711 67 3,479 106 3,776 132 Consumer: Real estate 1-4 family first mortgage 9,398 128 11,772 167 9,950 281 11,921 339 Real estate 1-4 family junior lien mortgage 1,630 26 1,832 29 1,654 52 1,861 58 Credit card 480 16 398 12 470 31 384 22 Automobile 86 3 82 3 87 7 83 6 Other revolving credit and installment 158 3 140 3 157 7 136 5 Total consumer 11,752 176 14,224 214 12,318 378 14,385 430 Total impaired loans (excluding PCI) $ 15,296 242 17,935 281 15,797 484 18,161 562 Interest income: Cash basis of accounting $ 76 84 135 165 Other (1) 166 197 349 397 Total interest income $ 242 281 484 562 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. TROUBLED DEBT RESTRUCTURINGS (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR, the balance of which totaled $12.6 billion and $15.5 billion at June 30, 2019 and December 31, 2018 , respectively. We do not consider loan resolutions such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms. Table 6.17 summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that modify more than once, the table reflects each modification that occurred during the period. Loans that both modify and pay off within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Table 6.17: TDR Modifications Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended June 30, 2019 Commercial: Commercial and industrial $ — 34 180 214 26 0.34 % $ 34 Real estate mortgage — 24 95 119 — 0.49 24 Real estate construction 13 — 13 26 — — — Lease financing — — — — — — — Total commercial 13 58 288 359 26 0.40 58 Consumer: Real estate 1-4 family first mortgage 28 2 181 211 — 1.83 19 Real estate 1-4 family junior lien mortgage 1 11 21 33 1 2.39 11 Credit c |
Leasing Activity
Leasing Activity | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases as Lessor and Lessee Disclosure [Text Block] | Note 7: Leasing Activity The information below provides a summary of our leasing activities as a lessor and lessee. As a Lessor Table 7.1 presents the composition of our leasing revenue and Table 7.2 provides the components of our investment in lease financing. Table 7.1: Leasing Revenue (in millions) Quarter ended June 30, 2019 Six months ended June 30, 2019 Interest income on lease financing $ 224 447 Other lease revenues: Variable revenues on lease financing 26 50 Fixed revenues on operating leases 357 730 Variable revenues on operating leases 14 32 Other lease-related revenues (1) 27 55 Lease income 424 867 Total leasing revenue $ 648 1,314 (1) Predominantly includes net gains on disposition of assets leased under operating leases or lease financings. Table 7.2: Investment in Lease Financing (in millions) Jun 30, 2019 Lease receivables $ 17,735 Residual asset values 4,244 Unearned income (2,655 ) Lease financing $ 19,324 Our net investment in financing and sales-type leases includes $2.1 billion of leveraged leases at June 30, 2019 . As shown in Table 9.1 , included in Note 9 (Other Assets), we had $8.7 billion in operating lease assets at June 30, 2019 , which was net of $3.2 billion of accumulated depreciation. Depreciation expense for the lease assets was $219 million and $448 million in the second quarter and first half of 2019, respectively. Table 7.3 presents future lease payments owed by our lessees. Table 7.3: Maturities of Lease Receivables June 30, 2019 (in millions) Direct financing and sales- type leases Operating leases Remainder of 2019 $ 3,036 535 2020 5,167 880 2021 4,004 591 2022 2,127 407 2023 1,219 269 Thereafter 2,182 605 Total lease receivables $ 17,735 3,287 As a Lessee Substantially all of our leases are operating leases. Table 7.4 presents balances for our operating leases. Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities (in millions) Jun 30, 2019 ROU assets $ 4,776 Lease liabilities 5,302 Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 7.5: Lease Costs (in millions) Quarter ended June 30, 2019 Six months ended June 30, 2019 Fixed lease expense - operating leases $ 291 588 Variable lease expense 80 153 Other (1) (9 ) (17 ) Total lease costs $ 362 724 (1) Predominantly includes sublease rental income and gains recognized from sale leaseback transactions. Tables 7.6 and 7.7 provide the future lease payments under operating leases as of December 31, 2018 and June 30, 2019, respectively. Table 7.7 also includes information on the remaining average lease term and discount rate. Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases (in millions) December 31, 2018 2019 $ 1,174 2020 1,056 2021 880 2022 713 2023 577 Thereafter 1,654 Total $ 6,054 Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases (in millions, except for weighted averages) June 30, 2019 Remainder of 2019 $ 566 2020 1,127 2021 947 2022 792 2023 654 Thereafter 2,054 Total lease payments 6,140 Less: imputed interest 838 Total operating lease liabilities $ 5,302 Weighted average remaining lease term (in years) 7.3 Weighted average discount rate 3.2 % Our operating leases predominantly expire within the next 15 years , with the longest lease expiring in 2105 . We do not include renewal or termination options in the establishment of the lease term when we are not reasonably certain that we will exercise them. As of June 30, 2019 , we had additional operating leases commitments of $72 million , predominantly for real estate, which leases had not yet commenced. These leases will commence by 2020 and have lease terms of 1 year to 11 years . |
Equity Securities
Equity Securities | 6 Months Ended |
Jun. 30, 2019 | |
Equity Securities [Abstract] | |
Equity Securities | Note 8: Equity Securities Table 8.1 provides a summary of our equity securities by business purpose and accounting method, including equity securities with readily determinable fair values (marketable) and those without readily determinable fair values (nonmarketable). Table 8.1: Equity Securities Jun 30, Dec 31, (in millions) 2019 2018 Held for trading at fair value: Marketable equity securities $ 23,327 19,449 Not held for trading: Fair value: Marketable equity securities (1) 5,379 4,513 Nonmarketable equity securities 7,244 5,594 Total equity securities at fair value 12,623 10,107 Equity method: Low-income housing tax credit investments 11,162 10,999 Private equity 3,352 3,832 Tax-advantaged renewable energy 3,051 3,073 New market tax credit and other 294 311 Total equity method 17,859 18,215 Other: Federal Reserve Bank stock and other at cost (2) 5,622 5,643 Private equity (3) 2,106 1,734 Total equity securities not held for trading 38,210 35,699 Total equity securities $ 61,537 55,148 (1) Includes $3.5 billion and $3.2 billion at June 30, 2019 , and December 31, 2018 , respectively, related to securities held as economic hedges of our deferred compensation plan obligations. (2) Includes $5.6 billion and $5.6 billion at June 30, 2019 and December 31, 2018 , respectively, related to investments in Federal Reserve Bank and Federal Home Loan Bank stock. (3) Represents nonmarketable equity securities accounted for under the measurement alternative. Equity Securities Held for Trading Equity securities held for trading purposes are marketable equity securities traded on organized exchanges. These securities are held as part of our customer accommodation trading activities. For more information on these activities, see Note 4 (Trading Activities). Equity Securities Not Held for Trading We also hold equity securities unrelated to trading activities. These securities include private equity and tax credit investments, securities held as economic hedges or to meet regulatory requirements (for example, Federal Reserve Bank and Federal Home Loan Bank stock). Equity securities not held for trading purposes are accounted for at either fair value, equity method, cost or the measurement alternative. FAIR VALUE Marketable equity securities held for purposes other than trading primarily consist of exchange-traded equity funds held to economically hedge obligations related to our deferred compensation plans and to a lesser extent other holdings of publicly traded equity securities held for investment purposes. We account for certain nonmarketable equity securities under the fair value method, and substantially all of these securities are economically hedged with equity derivatives. EQUITY METHOD Our equity method investments consist of tax credit and private equity investments, the majority of which are our low-income housing tax credit (LIHTC) investments. We invest in affordable housing projects that qualify for the LIHTC, which are designed to promote private development of low-income housing. These investments generate a return mostly through realization of federal tax credit and other tax benefits. In the second quarter and first half of 2019 , we recognized pre-tax losses of $298 million and $571 million , respectively, related to our LIHTC investments, compared with $287 million and $567 million , respectively, for the same periods a year ago. These losses were recognized in other noninterest income. We also recognized total tax benefits of $376 million and $746 million in the second quarter and first half of 2019 , respectively, which included tax credits recorded to income taxes of $303 million and $605 million for the same periods, respectively. In the second quarter and first half of 2018 , total tax benefits were $352 million and $711 million , respectively, which included tax credits of $281 million and $571 million for the same periods, respectively. We are periodically required to provide additional financial support during the investment period. A liability is recognized for unfunded commitments that are both legally binding and probable of funding. These commitments are predominantly funded within three years of initial investment. Our liability for these unfunded commitments was $3.9 billion at June 30, 2019 , and $3.6 billion at December 31, 2018 . This liability for unfunded commitments is included in long-term debt. OTHER The remaining portion of our nonmarketable equity securities portfolio consists of securities accounted for using the cost or measurement alternative method. Realized Gains and Losses Not Held for Trading Table 8.2 provides a summary of the net gains and losses from equity securities not held for trading. Gains and losses for securities held for trading are reported in net gains from trading activities. Table 8.2: Net Gains (Losses) from Equity Securities Not Held for Trading Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ 264 28 641 36 Nonmarketable equity securities 732 594 1,668 703 Total equity securities carried at fair value 996 622 2,309 739 Net gains (losses) from nonmarketable equity securities not carried at fair value: Impairment write-downs (31 ) (237 ) (67 ) (257 ) Net unrealized gains related to measurement alternative observable transactions 146 35 331 263 Net realized gains on sale 169 399 406 897 All other — 16 — 34 Total nonmarketable equity securities not carried at fair value 284 213 670 937 Net losses from economic hedge derivatives (1) (658 ) (540 ) (1,543 ) (598 ) Total net gains from equity securities $ 622 295 1,436 1,078 (1) Includes net gains (losses) on derivatives not designated as hedging instruments. Measurement Alternative Table 8.3 provides additional information about the impairment write-downs and observable price adjustments related to nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 8.2. Table 8.3: Net Gains (Losses) from Measurement Alternative Equity Securities Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Net gains (losses) recognized in earnings during the period: Gross unrealized gains due to observable price changes $ 157 43 342 271 Gross unrealized losses due to observable price changes (11 ) (8 ) (11 ) (8 ) Impairment write-downs (11 ) (5 ) (33 ) (12 ) Realized net gains from sale 102 16 125 91 Total net gains recognized during the period $ 237 46 423 342 Table 8.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held as of the balance sheet date. Table 8.4: Measurement Alternative Cumulative Gains (Losses) Jun 30, Dec 31, (in millions) 2019 2018 Cumulative gains (losses): Gross unrealized gains due to observable price changes $ 733 415 Gross unrealized losses due to observable price changes (36 ) (25 ) Impairment write-downs (52 ) (33 ) |
Other Assets
Other Assets | 6 Months Ended |
Jun. 30, 2019 | |
Other Assets [Abstract] | |
Other Assets | Note 9: Other Assets Table 9.1 presents the components of other assets. Table 9.1: Other Assets (in millions) Jun 30, Dec 31, Corporate/bank-owned life insurance $ 19,912 19,751 Accounts receivable (1) 26,213 34,281 Interest receivable 6,177 6,084 Customer relationship and other amortized intangibles 479 545 Foreclosed assets: Residential real estate: Government insured/guaranteed 68 88 Non-government insured/guaranteed 185 229 Other 124 134 Operating lease assets (lessor) 8,663 9,036 Operating lease ROU assets (lessee) (2) 4,776 — Due from customers on acceptances 272 258 Other 9,489 9,444 Total other assets $ 76,358 79,850 (1) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. For more information, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. (2) We recognized operating lease right of use (ROU) assets effective January 1, 2019, in connection with the adoption of ASU 2016-02 – Leases. For more information, see Note 1 (Summary of Significant Accounting Policies). |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 6 Months Ended |
Jun. 30, 2019 | |
Securitizations and Variable Interest Entities [Abstract] | |
Securitizations and Variable Interest Entities | Note 10: Securitizations and Variable Interest Entities Involvement with Special Purpose Entities (SPEs) In the normal course of business, we enter into various types of on- and off-balance sheet transactions with SPEs, which are corporations, trusts, limited liability companies or partnerships that are established for a limited purpose. Generally, SPEs are formed in connection with securitization transactions and are considered variable interest entities (VIEs). For further description of our involvement with SPEs, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K. We have segregated our involvement with VIEs between those VIEs which we consolidate, those which we do not consolidate and those for which we account for the transfers of financial assets as secured borrowings. Secured borrowings are transactions involving transfers of our financial assets to third parties that are accounted for as financings with the assets pledged as collateral. Accordingly, the transferred assets remain recognized on our balance sheet. Subsequent tables within this Note further segregate these transactions by structure type. Table 10.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 10.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total June 30, 2019 Cash and due from banks $ — 11 — 11 Interest-earning deposits with banks — 8 — 8 Debt securities: Trading debt securities 2,072 60 200 2,332 Available-for-sale debt securities (1) 1,879 — 68 1,947 Held-to-maturity debt securities 560 — — 560 Loans 1,214 13,602 87 14,903 Mortgage servicing rights 12,354 — — 12,354 Derivative assets 143 — — 143 Equity securities 11,211 121 — 11,332 Other assets — 208 2 210 Total assets 29,433 14,010 357 43,800 Short-term borrowings — — 263 263 Derivative liabilities 1 1 (2) — 2 Accrued expenses and other liabilities 198 201 (2) 2 401 Long-term debt 3,857 748 (2) 85 4,690 Total liabilities 4,056 950 350 5,356 Noncontrolling interests — 41 — 41 Net assets $ 25,377 13,019 7 38,403 December 31, 2018 Cash and due from banks $ — 139 — 139 Interest-earning deposits with banks — 8 — 8 Debt securities: Trading debt securities 2,110 45 200 2,355 Available-for-sale debt securities (1) 2,686 — 317 3,003 Held-to-maturity debt securities 510 — — 510 Loans 1,433 13,564 94 15,091 Mortgage servicing rights 14,761 — — 14,761 Derivative assets 53 — — 53 Equity securities 11,041 85 — 11,126 Other assets — 221 6 227 Total assets 32,594 14,062 617 47,273 Short-term borrowings — — 493 493 Derivative liabilities 26 — (2) — 26 Accrued expenses and other liabilities 231 191 (2) 8 430 Long-term debt 3,870 816 (2) 93 4,779 Total liabilities 4,127 1,007 594 5,728 Noncontrolling interests — 34 — 34 Net assets $ 28,467 13,021 23 41,511 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and GNMA. (2) There were no VIE liabilities with recourse to the general credit of Wells Fargo for the periods presented. Transactions with Unconsolidated VIEs Our transactions with unconsolidated VIEs include securitizations of residential mortgage loans, CRE loans, student loans, automobile loans and leases, certain dealer floorplan loans; investment and financing activities involving collateralized debt obligations (CDOs) backed by asset-backed and CRE securities, tax credit structures, collateralized loan obligations (CLOs) backed by corporate loans, and other types of structured financing. We have various forms of involvement with VIEs, including servicing, holding senior or subordinated interests, entering into liquidity arrangements, credit default swaps and other derivative contracts. Involvements with these unconsolidated VIEs are recorded on our balance sheet in debt and equity securities, loans, MSRs, derivative assets and liabilities, other assets, other liabilities, and long-term debt, as appropriate. Table 10.2 provides a summary of unconsolidated VIEs with which we have significant continuing involvement, but we are not the primary beneficiary. We do not consider our continuing involvement in an unconsolidated VIE to be significant when it relates to third-party sponsored VIEs for which we were not the transferor (unless we are servicer and have other significant forms of involvement) or if we were the sponsor only or sponsor and servicer but do not have any other forms of significant involvement. Significant continuing involvement includes transactions where we were the sponsor or transferor and have other significant forms of involvement. Sponsorship includes transactions with unconsolidated VIEs where we solely or materially participated in the initial design or structuring of the entity or marketing of the transaction to investors. When we transfer assets to a VIE and account for the transfer as a sale, we are considered the transferor. We consider investments in securities (other than those held temporarily in trading), loans, guarantees, liquidity agreements, written options and servicing of collateral to be other forms of involvement that may be significant. We have excluded certain transactions with unconsolidated VIEs from the balances presented in the following table where we have determined that our continuing involvement is not significant due to the temporary nature and size of our variable interests, because we were not the transferor or because we were not involved in the design of the unconsolidated VIEs. We also exclude from the table secured borrowing transactions with unconsolidated VIEs (for information on these transactions, see the Transactions with Consolidated VIEs and Secured Borrowings section in this Note). Table 10.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets June 30, 2019 Residential mortgage loan securitizations: Conforming (2) $ 1,132,124 2,367 11,420 — (136 ) 13,651 Other/nonconforming 9,438 37 57 — — 94 Commercial mortgage securitizations 154,690 2,041 877 85 (42 ) 2,961 Collateralized debt obligations: Debt securities 637 — — 4 (20 ) (16 ) Asset-based finance structures 244 143 — — — 143 Tax credit structures 36,888 12,232 — — (3,857 ) 8,375 Collateralized loan obligations 176 1 — — — 1 Investment funds 210 49 — — — 49 Other (3) 1,508 66 — 53 — 119 Total $ 1,335,915 16,936 12,354 142 (4,055 ) 25,377 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,367 11,420 — 902 14,689 Other/nonconforming 37 57 — — 94 Commercial mortgage securitizations 2,041 877 85 12,007 15,010 Collateralized debt obligations: Debt securities — — 4 20 24 Asset-based finance structures 143 — — 71 214 Tax credit structures 12,232 — — 1,373 13,605 Collateralized loan obligations 1 — — — 1 Investment funds 49 — — — 49 Other (3) 66 — 54 159 279 Total $ 16,936 12,354 143 14,532 43,965 (continued on following page) (continued from previous page) Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets December 31, 2018 Residential mortgage loan securitizations: Conforming (2) $ 1,172,833 2,377 13,811 — (171 ) 16,017 Other/nonconforming 10,596 453 57 — — 510 Commercial mortgage securitizations 153,350 2,409 893 (22 ) (40 ) 3,240 Collateralized debt obligations: Debt securities 659 — — 5 (20 ) (15 ) Asset-based finance structures 304 205 — — — 205 Tax credit structures 35,185 12,087 — — (3,870 ) 8,217 Collateralized loan obligations 2 — — — — — Investment funds 185 42 — — — 42 Other (3) 1,688 207 — 44 — 251 Total $ 1,374,802 17,780 14,761 27 (4,101 ) 28,467 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,377 13,811 — 1,183 17,371 Other/nonconforming 453 57 — — 510 Commercial mortgage securitizations 2,409 893 28 11,563 14,893 Collateralized debt obligations: Debt securities — — 5 20 25 Asset-based finance structures 205 — — 71 276 Tax credit structures 12,087 — — 1,420 13,507 Collateralized loan obligations — — — — — Investment funds 42 — — — 42 Other (3) 207 — 45 158 410 Total $ 17,780 14,761 78 14,415 47,034 (1) Includes total equity interests of $11.2 billion and $11.0 billion at June 30, 2019 , and December 31, 2018 , respectively. Also includes debt interests in the form of both loans and securities. Excludes certain debt securities held related to loans serviced for FNMA, FHLMC and GNMA. (2) Excludes assets and related liabilities with a recorded carrying value on our balance sheet of $551 million and $1.2 billion at June 30, 2019 , and December 31, 2018 , respectively, for certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. The recorded carrying value represents the amount that would be payable if the Company was to exercise the repurchase option. The carrying amounts are excluded from the table because the loans eligible for repurchase do not represent interests in the VIEs. (3) Includes structured financing and credit-linked note structures. In Table 10.2 , “Total VIE assets” represents the remaining principal balance of assets held by unconsolidated VIEs using the most current information available. For VIEs that obtain exposure to assets synthetically through derivative instruments, the remaining notional amount of the derivative is included in the asset balance. “Carrying value” is the amount in our consolidated balance sheet related to our involvement with the unconsolidated VIEs. “Maximum exposure to loss” from our involvement with off-balance sheet entities, which is a required disclosure under GAAP, is determined as the carrying value of our involvement with off-balance sheet (unconsolidated) VIEs plus the remaining undrawn liquidity and lending commitments, the notional amount of net written derivative contracts, and generally the notional amount of, or stressed loss estimate for, other commitments and guarantees. It represents estimated loss that would be incurred under severe, hypothetical circumstances, for which we believe the possibility is extremely remote, such as where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. Accordingly, this required disclosure is not an indication of expected loss. For complete descriptions of our types of transactions with unconsolidated VIEs with which we have a significant continuing involvement, but we are not the primary beneficiary, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K. INVESTMENT FUNDS We voluntarily waived a portion of our management fees for certain money market funds that are exempt from the consolidation analysis to ensure the funds maintained a minimum level of daily net investment income. The amount of fees waived in the second quarter and first half of 2019 was $10 million and $20 million , respectively, compared with $12 million and $25 million , respectively, in the same periods of 2018 . TRUST PREFERRED SECURITIES VIEs that we wholly own issue debt securities or preferred equity to third party investors. All of the proceeds of the issuance are invested in debt securities or preferred equity that we issue to the VIEs. The VIEs’ operations and cash flows relate only to the issuance, administration and repayment of the securities held by third parties. We do not consolidate these VIEs because the sole assets of the VIEs are receivables from us, even though we own all of the voting equity shares of the VIEs, have fully guaranteed the obligations of the VIEs and may have the right to redeem the third party securities under certain circumstances. In our consolidated balance sheet we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $2.1 billion and $2.0 billion at June 30, 2019 and December 31, 2018 , respectively, and the preferred equity securities issued to the VIEs as preferred stock with a carrying value of $2.5 billion at both dates. These VIEs are not included in the preceding table. Loan Sales and Securitization Activity We periodically transfer consumer and CRE loans and other types of financial assets in securitization and whole loan sale transactions. We typically retain the servicing rights from these sales and may continue to hold other beneficial interests in the transferred financial assets. We may also provide liquidity to investors in the beneficial interests and credit enhancements in the form of standby letters of credit. Through these transfers we may be exposed to liability under limited amounts of recourse as well as standard representations and warranties we make to purchasers and issuers. Table 10.3 presents the cash flows for our transfers accounted for as sales in which we have continuing involvement with the transferred financial assets. Table 10.3: Cash Flows From Sales and Securitization Activity Mortgage loans (in millions) 2019 2018 Quarter ended June 30, Proceeds from securitizations and whole loan sales $ 39,697 51,990 Fees from servicing rights retained 786 830 Cash flows from other interests held (1) 133 168 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 1 1 Agency securitizations (3) 27 19 Servicing advances, net of repayments (54 ) (7 ) Six months ended June 30, Proceeds from securitizations and whole loan sales $ 76,204 102,577 Fees from servicing rights retained 1,566 1,675 Cash flows from other interests held (1) 244 353 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 1 2 Agency securitizations (3) 44 52 Servicing advances, net of repayments (93 ) (43 ) (1) Cash flows from other interests held include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. We also received $1 million in both the second quarter and first half of 2018 related to other financial assets. (2) Consists of cash paid to repurchase loans from investors and cash paid to investors to reimburse them for losses on individual loans that are already liquidated. (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Second quarter and first half of 2019 exclude $1.3 billion and $ 3.2 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $1.8 billion and $4.7 billion , respectively, in the same periods of 2018. These loans are predominantly insured by the FHA or guaranteed by the VA. In the second quarter and first half of 2019 , we recognized net gains of $119 million and $180 million , respectively, from transfers accounted for as sales of financial assets, in which we have continuing involvement with the transferred assets, compared with $54 million and $112 million , respectively, in the same periods of 2018 . Net gains recognized in the second quarter and first half of 2018 were revised from the amounts previously reported to exclude transfers for which we do not have continuing involvement. These net gains predominantly relate to commercial mortgage securitizations, and residential mortgage securitizations where the loans were not already carried at fair value. Sales with continuing involvement during the second quarter and first half of 2019 and 2018 largely related to securitizations of residential mortgages that are sold to the government-sponsored entities (GSEs), including FNMA, FHLMC and GNMA (conforming residential mortgage securitizations). During the second quarter and first half of 2019 , we transferred $36.7 billion and $70.8 billion , respectively, in fair value of residential mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $47.7 billion and $95.0 billion , respectively, in the same periods of 2018 . Substantially all of these transfers did not result in a gain or loss because the loans were already carried at fair value. In connection with all of these transfers, in the first half of 2019 , we recorded a $707 million servicing asset, measured at fair value using a Level 3 measurement technique, securities of $3.4 billion , classified as Level 2, and a $8 million liability for repurchase losses which reflects management’s estimate of probable losses related to various representations and warranties for the loans transferred, initially measured at fair value. In the first half of 2018 , we recorded a $988 million servicing asset, securities of $1.8 billion , and a $7 million liability. Table 10.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 10.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2019 2018 Quarter ended June 30, Prepayment speed (1) 13.5 % 10.7 Discount rate 7.5 7.4 Cost to service ($ per loan) (2) $ 121 146 Six months ended June 30, Prepayment speed (1) 13.5 % 10.1 Discount rate 7.7 7.4 Cost to service ($ per loan) (2) $ 109 132 (1) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. (2) Includes costs to service and unreimbursed foreclosure costs, which can vary period to period depending on the mix of modified government-guaranteed loans sold to GNMA. During the second quarter and first half of 2019 , we transferred $3.4 billion and $6.1 billion , respectively, in carrying value of commercial mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $4.4 billion and $7.5 billion , respectively, in the same periods of 2018 . These transfers resulted in gains of $74 million and $121 million in the second quarter and first half of 2019 , respectively, because the loans were carried at LOCOM, compared with gains of $60 million and $129 million in the same periods of 2018 . In connection with these transfers, in the first half of 2019 , we recorded a servicing asset of $59 million , initially measured at fair value using a Level 3 measurement technique, and no securities. In the first half of 2018 , we recorded a servicing asset of $73 million and securities of $208 million . Retained Interests from Unconsolidated VIEs Table 10.5 provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held related to unconsolidated VIEs to immediate adverse changes in those assumptions. “Other interests held” relate to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Table 10.5: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights (1) Interest-only strips Commercial ($ in millions, except cost to service amounts) Subordinated bonds Senior bonds Fair value of interests held at June 30, 2019 $ 12,096 14 706 302 Expected weighted-average life (in years) 5.6 3.4 7.2 5.3 Key economic assumptions: Prepayment speed assumption (2) 12.2 % 18.8 Decrease in fair value from: 10% adverse change $ 526 1 25% adverse change 1,239 1 Discount rate assumption 7.4 % 13.9 3.5 2.8 Decrease in fair value from: 100 basis point increase $ 499 — 41 14 200 basis point increase 954 — 79 26 Cost to service assumption ($ per loan) 104 Decrease in fair value from: 10% adverse change 283 25% adverse change 707 Credit loss assumption 4.4 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — Fair value of interests held at December 31, 2018 $ 14,649 16 668 309 Expected weighted-average life (in years) 6.5 3.6 7.0 5.7 Key economic assumptions: Prepayment speed assumption (2) 9.9 % 17.7 Decrease in fair value from: 10% adverse change $ 530 1 25% adverse change 1,301 1 Discount rate assumption 8.1 % 14.5 4.3 3.7 Decrease in fair value from: 100 basis point increase $ 615 — 37 14 200 basis point increase 1,176 1 72 28 Cost to service assumption ($ per loan) 106 Decrease in fair value from: 10% adverse change 316 25% adverse change 787 Credit loss assumption 5.1 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — (1) See narrative following this table for a discussion of commercial mortgage servicing rights. (2) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. In addition to residential MSRs included in the previous table, we have a small portfolio of commercial MSRs with a fair value of $1.9 billion and $2.3 billion at June 30, 2019 , and December 31, 2018 , respectively. The nature of our commercial MSRs, which are carried at LOCOM, is different from our residential MSRs. Prepayment activity on serviced loans does not significantly impact the value of commercial MSRs because, unlike residential mortgages, commercial mortgages experience significantly lower prepayments due to certain contractual restrictions, impacting the borrower’s ability to prepay the mortgage. Similarly, prepayment speed assumptions do not significantly impact the value of the commercial mortgage securitization bonds. Additionally, for our commercial MSR portfolio, we are typically master/primary servicer, but not the special servicer, who is separately responsible for the servicing and workout of delinquent and foreclosed loans. It is the special servicer, similar to our role as servicer of residential mortgage loans, who is affected by higher servicing and foreclosure costs due to an increase in delinquent and foreclosed loans. Accordingly, prepayment speeds and costs to service are not key assumptions for commercial MSRs as they do not significantly impact the valuation. The primary economic driver impacting the fair value of our commercial MSRs is forward interest rates, which are derived from market observable yield curves used to price capital markets instruments. Market interest rates significantly affect interest earned on custodial deposit balances. The sensitivity of the current fair value to an immediate adverse 25% change in the assumption about interest earned on deposit balances at June 30, 2019 , and December 31, 2018 , results in a decrease in fair value of $231 million and $320 million , respectively. See Note 11 (Mortgage Banking Activities) for further information on our commercial MSRs. The sensitivities in the preceding paragraph and table are hypothetical and caution should be exercised when relying on this data. Changes in value based on variations in assumptions generally cannot be extrapolated because the relationship of the change in the assumption to the change in value may not be linear. Also, the effect of a variation in a particular assumption on the value of the other interests held is calculated independently without changing any other assumptions. In reality, changes in one factor may result in changes in others (for example, changes in prepayment speed estimates could result in changes in the credit losses), which might magnify or counteract the sensitivities. Off-Balance Sheet Loans Table 10.6 presents information about the principal balances of off-balance sheet loans that were sold or securitized, including residential mortgage loans sold to FNMA, FHLMC, GNMA and other investors, for which we have some form of continuing involvement (including servicer). Delinquent loans include loans 90 days or more past due and loans in bankruptcy, regardless of delinquency status. For loans sold or securitized where servicing is our only form of continuing involvement, we would only experience a loss if we were required to repurchase a delinquent loan or foreclosed asset due to a breach in representations and warranties associated with our loan sale or servicing contracts. Table 10.6: Off-Balance Sheet Loans Sold or Securitized Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Six months ended Jun 30, (in millions) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 2019 2018 Commercial: Real estate mortgage $ 107,239 105,173 955 1,008 89 151 Total commercial 107,239 105,173 955 1,008 89 151 Consumer: Real estate 1-4 family first mortgage 1,045,840 1,097,128 7,650 8,947 110 250 Total consumer 1,045,840 1,097,128 7,650 8,947 110 250 Total off-balance sheet sold or securitized loans (2) $ 1,153,079 1,202,301 8,605 9,955 199 401 (1) Includes $583 million and $675 million of commercial foreclosed assets and $507 million and $582 million of consumer foreclosed assets at June 30, 2019 , and December 31, 2018 , respectively. (2) At June 30, 2019 , and December 31, 2018 , the table includes total loans of $1.1 trillion at both dates, delinquent loans of $5.7 billion and $6.4 billion , and foreclosed assets of $364 million and $442 million , respectively, for FNMA, FHLMC and GNMA. Net charge-offs exclude loans sold to FNMA, FHLMC and GNMA as we do not service or manage the underlying real estate upon foreclosure and, as such, do not have access to net charge-off information. Transactions with Consolidated VIEs and Secured Borrowings Table 10.7 presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. Carrying values of “Assets” are presented using GAAP measurement methods, which may include fair value, credit impairment or other adjustments, and therefore in some instances will differ from “Total VIE assets.” For VIEs that obtain exposure synthetically through derivative instruments, the remaining notional amount of the derivative is included in “Total VIE assets.” On the consolidated balance sheet, we separately disclose the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs. Table 10.7: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets June 30, 2019 Secured borrowings: Municipal tender option bond securitizations $ 263 270 (265 ) — 5 Residential mortgage securitizations 87 87 (85 ) — 2 Total secured borrowings 350 357 (350 ) — 7 Consolidated VIEs: Commercial and industrial loans and leases 7,742 7,728 (490 ) (13 ) 7,225 Nonconforming residential mortgage loan securitizations 1,475 1,288 (452 ) — 836 Commercial real estate loans 4,794 4,794 — — 4,794 Investment funds 194 194 (6 ) (24 ) 164 Other 6 6 (2 ) (4 ) — Total consolidated VIEs 14,211 14,010 (950 ) (41 ) 13,019 Total secured borrowings and consolidated VIEs $ 14,561 14,367 (1,300 ) (41 ) 13,026 December 31, 2018 Secured borrowings: Municipal tender option bond securitizations $ 627 523 (501 ) — 22 Residential mortgage securitizations 95 94 (93 ) — 1 Total secured borrowings 722 617 (594 ) — 23 Consolidated VIEs: Commercial and industrial loans and leases 8,215 8,204 (477 ) (14 ) 7,713 Nonconforming residential mortgage loan securitizations 1,947 1,732 (521 ) — 1,211 Commercial real estate loans 3,957 3,957 — — 3,957 Investment funds 155 155 (5 ) (15 ) 135 Other 14 14 (4 ) (5 ) 5 Total consolidated VIEs 14,288 14,062 (1,007 ) (34 ) 13,021 Total secured borrowings and consolidated VIEs $ 15,010 14,679 (1,601 ) (34 ) 13,044 For complete descriptions of our accounting for transfers accounted for as secured borrowings and involvements with consolidated VIEs, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K. |
Mortgage Banking Activities
Mortgage Banking Activities | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Banking Activities [Abstract] | |
Mortgage Banking Activities | Note 11: Mortgage Banking Activities Mortgage banking activities, included in the Community Banking and Wholesale Banking operating segments, consist of residential and commercial mortgage originations, sale activity and servicing. We apply the amortization method to commercial MSRs and the fair value method to residential MSRs. Table 11.1 presents the changes in MSRs measured using the fair value method. Table 11.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Fair value, beginning of period $ 13,336 15,041 14,649 13,625 Servicing from securitizations or asset transfers (1) 400 486 741 1,059 Sales and other (2) (1 ) (1 ) (282 ) (5 ) Net additions 399 485 459 1,054 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (1,153 ) 376 (2,093 ) 1,629 Servicing and foreclosure costs (4) (22 ) 30 (10 ) 64 Discount rates (5) (109 ) — (9 ) — Prepayment estimates and other (6) 206 (61 ) 143 (18 ) Net changes in valuation model inputs or assumptions (1,078 ) 345 (1,969 ) 1,675 Changes due to collection/realization of expected cash flows over time (561 ) (460 ) (1,043 ) (943 ) Total changes in fair value (1,639 ) (115 ) (3,012 ) 732 Fair value, end of period $ 12,096 15,411 12,096 15,411 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. Total reported MSRs may increase upon repurchase due to servicing liabilities associated with these loans. (2) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios or portfolios with servicing liabilities. (3) Includes prepayment speed changes as well as other valuation changes due to changes in mortgage interest rates (such as changes in estimated interest earned on custodial deposit balances). (4) Includes costs to service and unreimbursed foreclosure costs. (5) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (6) Represents changes driven by other valuation model inputs or assumptions including prepayment speed estimation changes and other assumption updates. Prepayment speed estimation changes are influenced by observed changes in borrower behavior and other external factors that occur independent of interest rate changes. Table 11.2 presents the changes in amortized MSRs. Table 11.2: Analysis of Changes in Amortized MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Balance, beginning of period $ 1,427 1,411 1,443 1,424 Purchases 16 22 40 40 Servicing from securitizations or asset transfers 33 39 59 73 Amortization (69 ) (65 ) (135 ) (130 ) Balance, end of period (1) $ 1,407 1,407 1,407 1,407 Fair value of amortized MSRs: Beginning of period $ 2,149 2,307 2,288 2,025 End of period 1,897 2,309 1,897 2,309 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) for multi-family properties and non-agency. There was no valuation allowance recorded for the periods presented on the commercial amortized MSRs. We present the components of our managed servicing portfolio in Table 11.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 11.3: Managed Servicing Portfolio (in billions) Jun 30, 2019 Dec 31, 2018 Residential mortgage servicing: Serviced for others $ 1,107 1,164 Owned loans serviced 340 334 Subserviced for others 5 4 Total residential servicing 1,452 1,502 Commercial mortgage servicing: Serviced for others 548 543 Owned loans serviced 123 121 Subserviced for others 9 9 Total commercial servicing 680 673 Total managed servicing portfolio $ 2,132 2,175 Total serviced for others $ 1,655 1,707 Ratio of MSRs to related loans serviced for others 0.82 % 0.94 Table 11.4 presents the components of mortgage banking noninterest income. Table 11.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 846 901 1,686 1,817 Late charges 30 42 63 86 Ancillary fees 38 47 76 87 Unreimbursed direct servicing costs (1) (84 ) (85 ) (154 ) (179 ) Net servicing fees 830 905 1,671 1,811 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (1,078 ) 345 (1,969 ) 1,675 Changes due to collection/realization of expected cash flows over time (561 ) (460 ) (1,043 ) (943 ) Total changes in fair value of MSRs carried at fair value (1,639 ) (115 ) (3,012 ) 732 Amortization (69 ) (65 ) (135 ) (130 ) Net derivative gains (losses) from economic hedges (3) (B) 1,155 (319 ) 2,117 (1,539 ) Total servicing income, net 277 406 641 874 Net gains on mortgage loan origination/sales activities (4) 481 364 825 830 Total mortgage banking noninterest income $ 758 770 1,466 1,704 Market-related valuation changes to MSRs, net of hedge results (2)(3) (A)+(B) $ 77 26 148 136 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) Refer to the analysis of changes in fair value MSRs presented in Table 11.1 in this Note for more detail. (3) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 15 (Derivatives) for additional discussion and detail. (4) Includes net gains (losses) of $(283) million and $(434) million in the second quarter and first half of 2019 , respectively, and $134 million and $759 million in the second quarter and first half of 2018 , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 12: Intangible Assets Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 12.1: Intangible Assets June 30, 2019 December 31, 2018 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,260 (2,853 ) 1,407 4,161 (2,718 ) 1,443 Core deposit intangibles — — — 12,834 (12,834 ) — Customer relationship and other intangibles 3,937 (3,458 ) 479 3,994 (3,449 ) 545 Total amortized intangible assets $ 8,197 (6,311 ) 1,886 20,989 (19,001 ) 1,988 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 12,096 14,649 Goodwill 26,415 26,418 Trademark 14 14 (1) Balances are excluded commencing in the period following full amortization. (2) See Note 11 (Mortgage Banking Activities) for additional information on MSRs. Table 12.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at June 30, 2019 . Future amortization expense may vary from these projections. Table 12.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Six months ended June 30, 2019 (actual) $ 135 59 194 Estimate for the remainder of 2019 $ 136 55 191 Estimate for year ended December 31, 2020 249 95 344 2021 213 81 294 2022 188 68 256 2023 159 59 218 2024 134 48 182 Table 12.3 shows the allocation of goodwill to our reportable operating segments. Table 12.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2017 $ 16,849 8,455 1,283 26,587 Reclassification of goodwill held for sale to other assets (155 ) — — (155 ) Reduction in goodwill related to divested businesses and other — (3 ) — (3 ) June 30, 2018 (1) $ 16,694 8,452 1,283 26,429 December 31, 2018 $ 16,685 8,450 1,283 26,418 Reclassification of goodwill held for sale to other assets — — (7 ) (7 ) Foreign currency translation — 4 — 4 June 30, 2019 (1) $ 16,685 8,454 1,276 26,415 (1) At June 30, 2018 , others assets included goodwill classified as held-for-sale of $155 million related to the sales agreements for Reliable Financial Services, Inc. and the branch divestitures announced in June 2018. At June 30, 2019 , other assets included goodwill classified as held-for-sale of $7 million related to the sale of our Institutional Retirement and Trust business, which was announced in April 2019 and closed on July 1, 2019. We assess goodwill for impairment at a reporting unit level, which is one level below the operating segments. See Note 22 (Operating Segments) for further information on management reporting. |
Guarantees, Pledged Assets and
Guarantees, Pledged Assets and Collateral, and other Commitments | 6 Months Ended |
Jun. 30, 2019 | |
Guarantees [Abstract] | |
Guarantees, Pledged Assets and Collateral, and other commitments | Note 13: Guarantees, Pledged Assets and Collateral, and Other Commitments Guarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. Guarantees are generally in the form of standby letters of credit, securities lending and other indemnifications, written put options, recourse obligations, and other types of similar arrangements. For complete descriptions of our guarantees, see Note 15 (Guarantees, Pledged Assets and Collateral, and Other Commitments) in our 2018 Form 10-K. Table 13.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 13.1: Guarantees – Carrying Value and Maximum Exposure to Loss Maximum exposure to loss (in millions) Carrying value of obligation (asset) Expires in one year or less Expires after one year through three years Expires after three years through five years Expires after five years Total Non- investment grade June 30, 2019 Standby letters of credit (1) $ 38 14,078 7,185 3,901 464 25,628 7,938 Securities lending and other indemnifications (2) — — 1 — 849 850 1 Written put options (3) (371 ) 12,574 11,682 2,803 386 27,445 15,882 Loans and MLHFS sold with recourse (4) 53 111 634 1,205 10,597 12,547 9,318 Factoring guarantees (5) — 639 — — — 639 558 Other guarantees 1 — — 3 4,146 4,149 1 Total guarantees $ (279 ) 27,402 19,502 7,912 16,442 71,258 33,698 December 31, 2018 Standby letters of credit (1) $ 40 14,636 7,897 3,398 497 26,428 8,027 Securities lending and other indemnifications (2) — — 1 — 1,044 1,045 1 Written put options (3) (185 ) 17,243 10,502 3,066 400 31,211 21,732 Loans and MLHFS sold with recourse (4) 54 104 653 1,207 10,163 12,127 9,079 Factoring guarantees (5) — 889 — — — 889 751 Other guarantees 1 — — 3 2,959 2,962 1 Total guarantees $ (90 ) 32,872 19,053 7,674 15,063 74,662 39,591 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $6.4 billion and $7.5 billion at June 30, 2019 , and December 31, 2018 , respectively. (2) Includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $90 million and $70 million with related collateral of $759 million and $974 million at June 30, 2019 , and December 31, 2018 , respectively. (3) Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 15 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (4) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (5) Consists of guarantees made under certain factoring arrangements to purchase trade receivables from third parties, generally upon their request, if receivable debtors default on their payment obligations. “Maximum exposure to loss” and “Non-investment grade” are required disclosures under GAAP. Non-investment grade represents those guarantees on which we have a higher risk of performance under the terms of the guarantee. If the underlying assets under the guarantee are non-investment grade (that is, an external rating that is below investment grade or an internal credit default grade that is equivalent to a below investment grade external rating), we consider the risk of performance to be high. Internal credit default grades are determined based upon the same credit policies that we use to evaluate the risk of payment or performance when making loans and other extensions of credit. Credit quality indicators we usually consider in evaluating risk of payments or performance are described in Note 6 (Loans and Allowance for Credit Losses). Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is a remote possibility, where the value of our interests and any associated collateral declines to zero. Maximum exposure to loss estimates in Table 13.1 do not reflect economic hedges or collateral we could use to offset or recover losses we may incur under our guarantee agreements. Accordingly, this required disclosure is not an indication of expected loss. We believe the carrying value, which is either fair value for derivative-related products or the allowance for lending-related commitments, is more representative of our exposure to loss than maximum exposure to loss. Pledged Assets As part of our liquidity management strategy, we pledge various assets to secure trust and public deposits, borrowings and letters of credit from the Federal Home Loan Bank (FHLB) and FRB, securities sold under agreements to repurchase (repurchase agreements), securities lending arrangements, and for other purposes as required or permitted by law or insurance statutory requirements. The types of collateral we pledge include securities issued by federal agencies, GSEs, domestic and foreign companies and various commercial and consumer loans. Table 13.2 provides the total carrying amount of pledged assets by asset type and the fair value of pledged off-balance sheet securities for securities financings. The table excludes pledged consolidated VIE assets of $14.0 billion and $14.1 billion at June 30, 2019 , and December 31, 2018 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $357 million and $617 million in assets pledged in transactions with VIE’s accounted for as secured borrowings at June 30, 2019 , and December 31, 2018 , respectively. See Note 10 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 13.2: Pledged Assets (in millions) Jun 30, Dec 31, Related to trading activities: Debt securities $ 107,673 96,616 Equity securities 10,594 9,695 Total pledged assets related to trading activities (1) 118,267 106,311 Related to non-trading activities: Debt securities and other (2) 56,413 62,438 Mortgage loans held for sale and loans (3) 413,882 453,894 Total pledged assets related to non-trading activities 470,295 516,332 Total pledged assets $ 588,562 622,643 (1) Consists of pledged assets related to trading activities of $45.9 billion and $45.5 billion at June 30, 2019 , and December 31, 2018 , respectively and off-balance sheet securities of $72.3 billion and $60.8 billion as of the same dates, respectively, that are pledged as collateral for repurchase agreements and other securities financings. Total pledged assets related to trading activities includes $118.2 billion and $106.2 billion at June 30, 2019 , and December 31, 2018 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $3.5 billion and $4.2 billion (fair value of $3.5 billion and $ 4.1 billion ) in collateral for repurchase agreements at June 30, 2019 , and December 31, 2018 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $33 million and $68 million in collateral pledged under repurchase agreements at June 30, 2019 , and December 31, 2018 , respectively, that permit the secured parties to sell or repledge the collateral. Substantially all other pledged securities are pursuant to agreements that do not permit the secured party to sell or repledge the collateral. (3) Includes mortgage loans held for sale of $2.0 billion and $7.4 billion at June 30, 2019 , and December 31, 2018 , respectively. Substantially all of the total mortgage loans held for sale and loans are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $551 million and $1.2 billion at June 30, 2019 , and December 31, 2018 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. Securities Financing Activities We enter into resale and repurchase agreements and securities borrowing and lending agreements (collectively, “securities financing activities”) typically to finance trading positions (including securities and derivatives), acquire securities to cover short trading positions, accommodate customers’ financing needs, and settle other securities obligations. These activities are conducted through our broker-dealer subsidiaries and to a lesser extent through other bank entities. Most of our securities financing activities involve high quality, liquid securities such as U.S. Treasury securities and government agency securities, and to a lesser extent, less liquid securities, including equity securities, corporate bonds and asset-backed securities. We account for these transactions as collateralized financings in which we typically receive or pledge securities as collateral. We believe these financing transactions generally do not have material credit risk given the collateral provided and the related monitoring processes. OFFSETTING OF SECURITIES FINANCING ACTIVITIES Table 13.3 presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). We account for transactions subject to these agreements as collateralized financings, and those with a single counterparty are presented net on our balance sheet, provided certain criteria are met that permit balance sheet netting. Most transactions subject to these agreements do not meet those criteria and thus are not eligible for balance sheet netting. Collateral we pledged consists of non-cash instruments, such as securities or loans, and is not netted on the balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our balance sheet. Collateral pledged or received may be increased or decreased over time to maintain certain contractual thresholds, as the assets underlying each arrangement fluctuate in value. Generally, these agreements require collateral to exceed the asset or liability recognized on the balance sheet. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs or MSLAs. While these agreements are typically over-collateralized, U.S. GAAP requires disclosure in this table to limit the reported amount of such collateral to the amount of the related recognized asset or liability for each counterparty. In addition to the amounts included in Table 13.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 15 (Derivatives). Table 13.3: Offsetting – Securities Financing Activities (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 146,096 112,662 Gross amounts offset in consolidated balance sheet (1) (15,248 ) (15,258 ) Net amounts in consolidated balance sheet (2) 130,848 97,404 Collateral not recognized in consolidated balance sheet (3) (130,082 ) (96,734 ) Net amount (4) $ 766 670 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 116,900 106,248 Gross amounts offset in consolidated balance sheet (1) (15,248 ) (15,258 ) Net amounts in consolidated balance sheet (6) 101,652 90,990 Collateral pledged but not netted in consolidated balance sheet (7) (101,476 ) (90,798 ) Net amount (8) $ 176 192 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs that have been offset in the consolidated balance sheet. (2) Includes $112.1 billion and $80.1 billion classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at June 30, 2019 , and December 31, 2018 , respectively. Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $18.8 billion and $17.3 billion , at June 30, 2019 , and December 31, 2018 , respectively. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. At June 30, 2019 , and December 31, 2018 , we have received total collateral with a fair value of $157.4 billion and $123.1 billion , respectively, all of which, we have the right to sell or repledge. These amounts include securities we have sold or repledged to others with a fair value of $73.4 billion at June 30, 2019 , and $60.8 billion at December 31, 2018 . (4) Represents the amount of our exposure that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) For additional information on underlying collateral and contractual maturities, see the “Repurchase and Securities Lending Agreements” section in this Note. (6) Amount is classified in short-term borrowings on our consolidated balance sheet. (7) Represents the fair value of collateral we have pledged, related to enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty. At June 30, 2019 , and December 31, 2018 , we have pledged total collateral with a fair value of $119.6 billion and $108.8 billion , respectively, of which, the counterparty does not have the right to sell or repledge $3.5 billion as of June 30, 2019 and $4.4 billion as of December 31, 2018 . (8) Represents the amount of our obligation that is not covered by pledged collateral and/or is not subject to an enforceable MRA or MSLA. REPURCHASE AND SECURITIES LENDING AGREEMENTS Securities sold under repurchase agreements and securities lending arrangements are effectively short-term collateralized borrowings. In these transactions, we receive cash in exchange for transferring securities as collateral and recognize an obligation to reacquire the securities for cash at the transaction’s maturity. These types of transactions create risks, including (1) the counterparty may fail to return the securities at maturity, (2) the fair value of the securities transferred may decline below the amount of our obligation to reacquire the securities, and therefore create an obligation for us to pledge additional amounts, and (3) the counterparty may accelerate the maturity on demand, requiring us to reacquire the security prior to contractual maturity. We attempt to mitigate these risks in various ways. Most of our collateral consists of highly liquid securities. In addition, we underwrite and monitor the financial strength of our counterparties, monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. Table 13.4 provides the gross amounts recognized on the balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 13.4: Underlying Collateral Types of Gross Obligations (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 49,622 38,408 Securities of U.S. States and political subdivisions 97 159 Federal agency mortgage-backed securities 43,346 47,241 Non-agency mortgage-backed securities 1,754 1,875 Corporate debt securities 8,132 6,191 Asset-backed securities 2,258 2,074 Equity securities 2,034 992 Other 866 340 Total repurchases 108,109 97,280 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 198 222 Federal agency mortgage-backed securities — 2 Corporate debt securities 483 389 Equity securities (1) 8,094 8,349 Other 16 6 Total securities lending 8,791 8,968 Total repurchases and securities lending $ 116,900 106,248 (1) Equity securities are generally exchange traded and either re-hypothecated under margin lending agreements or obtained through contemporaneous securities borrowing transactions with other counterparties. Table 13.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 13.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2019 Repurchase agreements $ 96,487 3,565 3,938 4,119 108,109 Securities lending arrangements 8,643 — 148 — 8,791 Total repurchases and securities lending (1) $ 105,130 3,565 4,086 4,119 116,900 December 31, 2018 Repurchase agreements $ 86,574 3,244 2,153 5,309 97,280 Securities lending arrangements 8,669 — 299 — 8,968 Total repurchases and securities lending (1) $ 95,243 3,244 2,452 5,309 106,248 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending. OTHER COMMITMENTS To meet the financing needs of our customers, we may enter into commitments to purchase debt and equity securities to provide capital for their funding, liquidity or other future needs. As of June 30, 2019 , a nd December 31, 2018 , we had commitments to purchase debt securities of $212 million and $335 million , respectively, and commitments to purchase equity securities of $2.1 billion and $2.5 billion , respectively. As part of maintaining our memberships in certain clearing organizations, we are required to stand ready to provide liquidity to sustain market clearing activity in the event unforeseen events occur or are deemed likely to occur. Certain of these obligations are guarantees of other members’ performance and accordingly are included in Other guarantees in Table 13.1. Also, we have commitments to purchase securities under resale agreements from central clearing organizations. We do not have any outstanding amounts funded, and the amount of our unfunded contractual commitments was $5.1 billion and $9.8 billion as of June 30, 2019 , and December 31, 2018 , respectively. Given the nature of these commitments, they are excluded from Table 6.4 (Unfunded Credit Commitments) in Note 6 (Loans and Allowance for Credit Losses). The Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue. These guaranteed liabilities were $545 million and $5 million at June 30, 2019 and December 31, 2018 , respectively. These guarantees rank on parity with all of the Parent’s other unsecured and unsubordinated indebtedness. |
Legal Actions
Legal Actions | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Actions | Note 14: Legal Actions Wells Fargo and certain of our subsidiaries are involved in a number of judicial, regulatory, governmental, arbitration, and other proceedings or investigations concerning matters arising from the conduct of our business activities, and many of those proceedings and investigations expose Wells Fargo to potential financial loss. These proceedings and investigations include actions brought against Wells Fargo and/or our subsidiaries with respect to corporate-related matters and transactions in which Wells Fargo and/or our subsidiaries were involved. In addition, Wells Fargo and our subsidiaries may be requested to provide information or otherwise cooperate with government authorities in the conduct of investigations of other persons or industry groups. Although there can be no assurance as to the ultimate outcome, Wells Fargo and/or our subsidiaries have generally denied, or believe we have a meritorious defense and will deny, liability in all significant legal actions pending against us, including the matters described below, and we intend to defend vigorously each case, other than matters we describe as having settled. We establish accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. For such accruals, we record the amount we consider to be the best estimate within a range of potential losses that are both probable and estimable; however, if we cannot determine a best estimate, then we record the low end of the range of those potential losses. The actual costs of resolving legal actions may be substantially higher or lower than the amounts accrued for those actions. ATM ACCESS FEE LITIGATION In October 2011, plaintiffs filed a putative class action, Mackmin, et al. v. Visa, Inc. et al. , against Wells Fargo & Company, Wells Fargo Bank, N.A., Visa, MasterCard, and several other banks in the United States District Court for the District of Columbia. Plaintiffs allege that the Visa and MasterCard requirement that if an ATM operator charges an access fee on Visa and MasterCard transactions, then that fee cannot be greater than the access fee charged for transactions on other networks, violates antitrust rules. Plaintiffs seek treble damages, restitution, injunctive relief, and attorneys’ fees where available under federal and state law. Two other antitrust cases that make similar allegations were filed in the same court, but these cases did not name Wells Fargo as a defendant. On February 13, 2013, the district court granted defendants’ motions to dismiss the three actions. Plaintiffs appealed the dismissals and, on August 4, 2015, the United States Court of Appeals for the District of Columbia Circuit vacated the district court’s decisions and remanded the three cases to the district court for further proceedings. On June 28, 2016, the United States Supreme Court granted defendants’ petitions for writ of certiorari to review the decisions of the United States Court of Appeals for the District of Columbia. On November 17, 2016, the United States Supreme Court dismissed the petitions as improvidently granted, and the three cases returned to the district court for further proceedings. AUTOMOBILE LENDING MATTERS On April 20, 2018, the Company entered into consent orders with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) to resolve, among other things, investigations by the agencies into the Company’s compliance risk management program and its past practices involving certain automobile collateral protection insurance (CPI) policies and, as discussed below, certain mortgage interest rate lock extensions. The consent orders require remediation to customers and the payment of a total of $1.0 billion in civil money penalties to the agencies. In July 2017, the Company announced a plan to remediate customers who may have been financially harmed due to issues related to automobile CPI policies purchased through a third-party vendor on their behalf. Multiple putative class action cases alleging, among other things, unfair and deceptive practices relating to these CPI policies, have been filed against the Company and consolidated into one multi-district litigation in the United States District Court for the Central District of California. The Company has reached an agreement in principle to resolve the multi-district litigation pursuant to which the Company has agreed to pay, consistent with its remediation obligations under the consent orders, approximately $424 million in remediation to customers with CPI policies placed between October 15, 2005, and September 30, 2016. The settlement amount is not incremental to the Company’s remediation obligations under the consent orders, but instead encompasses those obligations, including remediation payments to date. The settlement amount is subject to change as the Company finalizes its remediation activity under the consent orders. In addition, the Company has agreed to contribute $1 million to a common fund for the class. The district court scheduled a preliminary approval hearing for August 5, 2019. A putative class of shareholders also filed a securities fraud class action against the Company and its executive officers alleging material misstatements and omissions of CPI-related information in the Company’s public disclosures. Former team members have also alleged retaliation for raising concerns regarding automobile lending practices. In addition, the Company has identified certain issues related to the unused portion of guaranteed automobile protection (GAP) waiver or insurance agreements between the customer and dealer and, by assignment, the lender, which will require remediation to customers in certain states. The Company is subject to a class action lawsuit in the United States District Court for the Central District of California alleging that customers are entitled to refunds in all states. Allegations related to the CPI and GAP programs are among the subjects of shareholder derivative lawsuits pending in federal and state court in California. The court dismissed the state court action in September 2018, but plaintiffs filed an amended complaint in November 2018. The parties to the state court action have entered into an agreement to resolve the action pursuant to which the Company will pay plaintiffs’ attorneys’ fees and undertake certain business and governance practices. The court granted preliminary approval of the settlement on July 12, 2019, and scheduled a final approval hearing for October 9, 2019. These and other issues related to the origination, servicing, and collection of consumer automobile loans, including related insurance products, have also subjected the Company to formal or informal inquiries, investigations, or examinations from federal and state government agencies. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million . CONSUMER DEPOSIT ACCOUNT RELATED REGULATORY INVESTIGATION The CFPB is conducting an investigation into whether customers were unduly harmed by the Company’s historical practices associated with the freezing (and, in many cases, closing) of consumer deposit accounts after the Company detected suspected fraudulent activity (by third parties or account holders) that affected those accounts. A former team member has brought a state court action alleging retaliation for raising concerns about these practices. FIDUCIARY AND CUSTODY ACCOUNT FEE CALCULATIONS Federal government agencies are conducting formal or informal inquiries, investigations, or examinations regarding fee calculations within certain fiduciary and custody accounts in the Company’s investment and fiduciary services business, which is part of the wealth management business within the Wealth and Investment Management (WIM) operating segment. The Company has determined that there have been instances of incorrect fees being applied to certain assets and accounts, resulting in both overcharges and undercharges to customers. FOREIGN EXCHANGE BUSINESS Federal government agencies, including the United States Department of Justice (Department of Justice), are investigating or examining certain activities in the Company’s foreign exchange business. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing and has discussed the potential resolution of some of the matters. The Company is in the process of providing remediation to customers that may have received pricing inconsistent with commitments made to those customers, and rebates to customers where historic pricing, while consistent with contracts entered into with those customers, does not conform to recently implemented pricing review standards for prior periods. INTERCHANGE LITIGATION Plaintiffs representing a putative class of merchants have filed putative class actions, and individual merchants have filed individual actions, against Wells Fargo Bank, N.A., Wells Fargo & Company, Wachovia Bank, N.A., and Wachovia Corporation regarding the interchange fees associated with Visa and MasterCard payment card transactions. Visa, MasterCard, and several other banks and bank holding companies are also named as defendants in these actions. These actions have been consolidated in the United States District Court for the Eastern District of New York. The amended and consolidated complaint asserts claims against defendants based on alleged violations of federal and state antitrust laws and seeks damages, as well as injunctive relief. Plaintiff merchants allege that Visa, MasterCard, and payment card issuing banks unlawfully colluded to set interchange rates. Plaintiffs also allege that enforcement of certain Visa and MasterCard rules and alleged tying and bundling of services offered to merchants are anticompetitive. Wells Fargo and Wachovia, along with other defendants and entities, are parties to Loss and Judgment Sharing Agreements, which provide that they, along with other entities, will share, based on a formula, in any losses from the Interchange Litigation. On July 13, 2012, Visa, MasterCard, and the financial institution defendants, including Wells Fargo, signed a memorandum of understanding with plaintiff merchants to resolve the consolidated class action and reached a separate settlement in principle of the consolidated individual actions. The settlement payments to be made by all defendants in the consolidated class and individual actions totaled approximately $6.6 billion before reductions applicable to certain merchants opting out of the settlement. The class settlement also provided for the distribution to class merchants of 10 basis points of default interchange across all credit rate categories for a period of eight consecutive months. The district court granted final approval of the settlement, which was appealed to the United States Court of Appeals for the Second Circuit by settlement objector merchants. Other merchants opted out of the settlement and are pursuing several individual actions. On June 30, 2016, the Second Circuit vacated the settlement agreement and reversed and remanded the consolidated action to the United States District Court for the Eastern District of New York for further proceedings. On November 23, 2016, prior class counsel filed a petition to the United States Supreme Court, seeking review of the reversal of the settlement by the Second Circuit, and the Supreme Court denied the petition on March 27, 2017. On November 30, 2016, the district court appointed lead class counsel for a damages class and an equitable relief class. The parties have entered into a settlement agreement to resolve the money damages class claims pursuant to which defendants will pay a total of approximately $6.2 billion , which includes approximately $5.3 billion of funds remaining from the 2012 settlement and $900 million in additional funding. The Company’s allocated responsibility for the additional funding is approximately $94.5 million . The court granted preliminary approval of the settlement in January 2019, and scheduled a final approval hearing for November 7, 2019. Several of the opt-out and direct action litigations were settled during the pendency of the Second Circuit appeal while others remain pending. Discovery is proceeding in the opt-out litigations and the equitable relief class case. LOW INCOME HOUSING TAX CREDITS Federal government agencies have undertaken formal or informal inquiries or investigations regarding the manner in which the Company purchased, and negotiated the purchase of, certain federal low income housing tax credits in connection with the financing of low income housing developments. MOBILE DEPOSIT PATENT LITIGATION The Company is a defendant in two separate cases brought by United Services Automobile Association (USAA) in the United States District Court for the Eastern District of Texas alleging claims of patent infringement regarding mobile deposit capture technology patents held by USAA. Trial in the first case is scheduled for November 2019 and trial in the second case is scheduled for January 2020. MORTGAGE INTEREST RATE LOCK MATTERS On April 20, 2018, the Company entered into consent orders with the OCC and CFPB to resolve, among other things, investigations by the agencies into the Company’s compliance risk management program and its past practices involving certain automobile CPI policies and certain mortgage interest rate lock extensions. The consent orders require remediation to customers and the payment of a total of $1.0 billion in civil money penalties to the agencies. The Company was named in a putative class action, filed in the United States District Court for the Northern District of California, alleging violations of federal and state consumer fraud statutes relating to mortgage rate lock extension fees. The Company filed a motion to dismiss and the court granted the motion. Subsequently, a putative class action was filed in the United States District Court for the District of Oregon, raising similar allegations. The Company filed a motion to dismiss this action and the court granted the motion. In addition, former team members have asserted claims, including in pending litigation, that they were terminated for raising concerns regarding mortgage interest rate lock extension practices. Allegations related to mortgage interest rate lock extension fees are also among the subjects of two shareholder derivative lawsuits consolidated in California state court. The parties have entered into an agreement to resolve the state court action pursuant to which the Company will pay plaintiffs’ attorneys’ fees and undertake certain business and governance practices. The court granted preliminary approval of the settlement on July 12, 2019, and scheduled a final approval hearing for October 9, 2019. This matter has also subjected the Company to formal or informal inquiries, investigations or examinations from other federal and state government agencies. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million . MORTGAGE LOAN MODIFICATION LITIGATION Plaintiffs representing a putative class of mortgage borrowers have filed separate putative class actions, Hernandez v. Wells Fargo, et al ., and Coordes v. Wells Fargo, et al ., against Wells Fargo Bank, N.A. in the United States District Court for the Northern District of California and the United States District Court for the District of Washington, respectively. Plaintiffs allege that Wells Fargo improperly denied mortgage loan modifications or repayment plans to customers in the foreclosure process due to the overstatement of foreclosure attorneys’ fees that were included for purposes of determining whether a customer in the foreclosure process qualified for a mortgage loan modification or repayment plan. MORTGAGE-RELATED REGULATORY INVESTIGATIONS Federal and state government agencies, including the Department of Justice, have been investigating or examining certain mortgage related activities of Wells Fargo and predecessor institutions. Wells Fargo, for itself and for predecessor institutions, has responded, or continues to respond, to requests from these agencies seeking information regarding the origination, underwriting, and securitization of residential mortgages, including sub-prime mortgages. These agencies have advanced theories of purported liability with respect to certain of these activities. An agreement, pursuant to which the Company paid $2.09 billion , was reached in August 2018 to resolve the Department of Justice investigation, which related to certain 2005-2007 residential mortgage-backed securities activities. In addition, the Company reached an agreement with the Attorney General of the State of Illinois in November 2018 pursuant to which the Company paid $17 million in restitution to certain Illinois state pension funds to resolve a claim relating to certain residential mortgage-backed securities activities. Other financial institutions have entered into similar settlements with these agencies, the nature of which related to the specific activities of those financial institutions, including the imposition of significant financial penalties and remedial actions. OFAC RELATED INVESTIGATION The Company has self-identified an issue whereby certain foreign banks utilized a Wells Fargo software-based solution to conduct import/export trade-related financing transactions with countries and entities prohibited by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury. We do not believe any funds related to these transactions flowed through accounts at Wells Fargo as a result of the aforementioned conduct. The Company has made voluntary self-disclosures to OFAC and is cooperating with an inquiry from the Department of Justice. ORDER OF POSTING LITIGATION Plaintiffs filed a series of putative class actions against Wachovia Bank, N.A. and Wells Fargo Bank, N.A., as well as many other banks, challenging the “high to low” order in which the banks post debit card transactions to consumer deposit accounts. Most of these actions were consolidated in multi-district litigation proceedings (MDL proceedings) in the United States District Court for the Southern District of Florida. The court in the MDL proceedings has certified a class of putative plaintiffs, and Wells Fargo moved to compel arbitration of the claims of unnamed class members. The court denied the motions to compel arbitration in October 2016, and Wells Fargo appealed this decision to the United States Court of Appeals for the Eleventh Circuit. In May 2018, the Eleventh Circuit ruled in Wells Fargo’s favor and found that Wells Fargo had not waived its arbitration rights and remanded the case to the district court for further proceedings. Plaintiffs filed a petition for rehearing to the Eleventh Circuit, which was denied in August 2018. Plaintiffs petitioned for certiorari from the United States Supreme Court, and that petition was denied in January 2019. The case has returned to the district court for further proceedings. RETAIL SALES PRACTICES MATTERS Federal, state, and local government agencies, including the Department of Justice, the United States Securities and Exchange Commission (SEC), and the United States Department of Labor; state attorneys general, including the New York Attorney General; and prosecutors’ offices, as well as Congressional committees, have undertaken formal or informal inquiries, investigations or examinations arising out of certain retail sales practices of the Company that were the subject of settlements with the CFPB, the OCC, and the Office of the Los Angeles City Attorney announced by the Company on September 8, 2016. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing. In October 2018, the Company entered into an agreement to resolve the New York Attorney General’s investigation pursuant to which the Company paid $65 million to the State of New York. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million . The Company has also engaged in preliminary and/or exploratory resolution discussions with the Department of Justice and the SEC, although there can be no assurance as to the outcome of these discussions. In addition, a number of lawsuits have also been filed by non-governmental parties seeking damages or other remedies related to these retail sales practices. First, various class plaintiffs purporting to represent consumers who allege that they received products or services without their authorization or consent have brought separate putative class actions against the Company in the United States District Court for the Northern District of California and various other jurisdictions. In April 2017, the Company entered into a settlement agreement in the first-filed action, Jabbari v. Wells Fargo Bank, N.A ., to resolve claims regarding certain products or services provided without authorization or consent for the time period May 1, 2002 to April 20, 2017. Pursuant to the settlement, the Company will pay $142 million for remediation, attorneys’ fees, and settlement fund claims administration. In the unlikely event that the $142 million settlement total is not enough to provide remediation, pay attorneys’ fees, pay settlement fund claims administration costs, and have at least $25 million left over to distribute to all class members, the Company will contribute additional funds to the settlement. In addition, in the unlikely event that the number of unauthorized accounts identified by settlement class members in the claims process and not disputed by the claims administrator exceeds plaintiffs’ 3.5 million account estimate, the Company will proportionately increase the $25 million reserve so that the ratio of reserve to unauthorized accounts is no less than what was implied by plaintiffs’ estimate at the time of the district court’s preliminary approval of the settlement in July 2017. The district court issued an order granting final approval of the settlement on June 14, 2018. Several appeals of the district court’s order granting final approval of the settlement have been filed with the United States Court of Appeals for the Ninth Circuit. Second, Wells Fargo shareholders brought a consolidated securities fraud class action in the United States District Court for the Northern District of California alleging certain misstatements and omissions in the Company’s disclosures related to sales practices matters. The Company entered into a settlement agreement to resolve this matter pursuant to which the Company paid $480 million . The district court issued an order granting final approval of the settlement on December 20, 2018. Third, Wells Fargo shareholders have brought numerous shareholder derivative lawsuits asserting breach of fiduciary duty claims, among others, against current and former directors and officers for their alleged involvement with and failure to detect and prevent sales practices issues. These actions are currently pending in the United States District Court for the Northern District of California and California state court for coordinated proceedings. An additional lawsuit asserting similar claims pending in Delaware state court has been stayed. The parties have entered into settlement agreements to resolve the shareholder derivative lawsuits pursuant to which insurance carriers will pay the Company approximately $240 million for alleged damage to the Company, and the Company will pay plaintiffs’ attorneys’ fees. Preliminary approval of the settlements has been granted, and the federal court held a final approval hearing on August 1, 2019, and the state court scheduled a final approval hearing for October 9, 2019. Fourth, multiple employment litigation matters have been brought against Wells Fargo, including an Employee Retirement Income Security Act (ERISA) class action in the United States District Court for the District of Minnesota on behalf of 401(k) plan participants that has been dismissed and is now on appeal; a class action in the United States District Court for the Northern District of California on behalf of team members who allege that they protested sales practice misconduct and/or were terminated for not meeting sales goals that has now been dismissed, and we have entered into a framework with plaintiffs’ counsel to address individual claims that have been asserted; various wage and hour class actions brought in federal and state court in California and Pennsylvania (which have been settled), and in New Jersey on behalf of non-exempt branch based team members alleging that sales pressure resulted in uncompensated overtime; and multiple single plaintiff Sarbanes-Oxley Act complaints and state law whistleblower actions filed with the United States Department of Labor or in various state courts alleging adverse employment actions for raising sales practice misconduct issues. RMBS TRUSTEE LITIGATION In November 2014, a group of institutional investors (Institutional Investor Plaintiffs), including funds affiliated with BlackRock, Inc., filed a putative class action in the United States District Court for the Southern District of New York against Wells Fargo Bank, N.A., alleging claims against the Company in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts (Federal Court Complaint). Similar complaints have been filed against other trustees in various courts, including in the Southern District of New York, in New York state court, and in other states, by RMBS investors. The Federal Court Complaint alleged that Wells Fargo Bank, N.A., as trustee, caused losses to investors and asserted causes of action based upon, among other things, the trustee’s alleged failure to notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, notify investors of alleged events of default, and abide by appropriate standards of care following alleged events of default. Plaintiffs sought money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In December 2014 and December 2015, certain other investors filed four complaints alleging similar claims against Wells Fargo Bank, N.A. in the Southern District of New York (Related Federal Cases). In January 2016, the Southern District of New York entered an order in connection with the Federal Court Complaint dismissing claims related to certain of the trusts at issue (Dismissed Trusts). The Company’s subsequent motion to dismiss the Federal Court Complaint and the complaints for the Related Federal Cases was granted in part and denied in part in March 2017. In May 2017, the Company filed third-party complaints against certain investment advisors affiliated with the Institutional Investor Plaintiffs seeking contribution with respect to claims alleged in the Federal Court Complaint (Third-Party Claims). In December 2016, the Institutional Investor Plaintiffs filed a new putative class action complaint in New York state court in respect of 261 RMBS trusts, including the Dismissed Trusts, for which Wells Fargo Bank, N.A. serves or served as trustee (State Court Action). A complaint raising similar allegations to those in the Federal Court Complaint was filed in May 2016 in New York state court by IKB International and IKB Deutsche Industriebank (IKB Action). In July 2017, certain of the plaintiffs from the State Court Action filed a civil complaint relating to Wells Fargo Bank, N.A.’s setting aside reserves for legal fees and expenses in connection with the liquidation of eleven RMBS trusts at issue in the State Court Action (Declaratory Judgment Action). The complaint sought, among other relief, declarations that the Company is not entitled to indemnification, the advancement of funds, or the taking of reserves from trust funds for legal fees and expenses it incurs in defending the claims in the State Court Action. In May 2019, the New York state court approved a settlement agreement among the Institutional Investor Plaintiffs and the Company pursuant to which, among other terms, the Company paid $43 million to resolve the Federal Court Complaint and the State Court Action. The settlement also resolved the Third Party Claims and the Declaratory Judgment Action. The settlement did not affect the Related Federal Cases or the IKB Action, which remain pending. SEMINOLE TRIBE TRUSTEE LITIGATION The Seminole Tribe of Florida filed a complaint in Florida state court alleging that Wells Fargo, as trustee, charged excess fees in connection with the administration of a minor’s trust and failed to invest the assets of the trust prudently. The complaint was later amended to include three individual current and former beneficiaries as plaintiffs and to remove the Tribe as a party to the case. In December 2016, the Company filed a motion to dismiss the amended complaint on the grounds that the Tribe is a necessary party and that the individual beneficiaries lack standing to bring claims. The motion was denied in June 2018. Trial is scheduled for February 2020. WHOLESALE BANKING CONSENT ORDER INVESTIGATION On November 19, 2015, the Company entered into a consent order with the OCC, pursuant to which the Wholesale Banking group was required to implement customer due diligence standards that include collection of current beneficial ownership information for certain business customers. The Company is responding to inquiries from various federal government agencies regarding potentially inappropriate conduct in connection with the collection of beneficial ownership information. OUTLOOK As described above, the Company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. The high end of the range of reasonably possible potential losses in excess of the Company’s accrual for probable and estimable losses was approximately $3.9 billion as of June 30, 2019 . The increase in the high end of the range from March 31, 2019, was due to a variety of matters, including retail sales practices matters. The outcomes of legal actions are unpredictable and subject to significant uncertainties, and it is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Accordingly, actual losses may be in excess of the established accrual or the range of reasonably possible loss. Wells Fargo is unable to determine whether the ultimate resolution of the retail sales practices matters will have a material adverse effect on its consolidated financial condition. Based on information currently available, advice of counsel, available insurance coverage, and established reserves, Wells Fargo believes that the eventual outcome of other actions against Wells Fargo and/or its subsidiaries will not, individually or in the aggregate, have a material adverse effect on Wells Fargo’s consolidated financial condition. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to Wells Fargo’s results of operations for any particular period. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 15: Derivatives We use derivatives to manage exposure to market risk, including interest rate risk, credit risk and foreign currency risk, and to assist customers with their risk management objectives. We designate certain derivatives as hedging instruments in a qualifying hedge accounting relationship (fair value or cash flow hedge). Our remaining derivatives consist of economic hedges that do not qualify for hedge accounting, and derivatives held for customer accommodation trading or other purposes. For more information on our derivative activities, see Note 17 (Derivatives) in our 2018 Form 10-K. Table 15.1 presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged but is used only as the basis on which interest and other payments are determined. Table 15.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2019 December 31, 2018 Notional or contractual amount Fair value Notional or contractual amount Fair value (in millions) Derivative assets Derivative liabilities Derivative Derivative Derivatives designated as hedging instruments Interest rate contracts $ 186,206 2,559 1,368 177,511 2,237 636 Foreign exchange contracts (1) 33,439 540 1,162 34,176 573 1,376 Total derivatives designated as qualifying hedging instruments 3,099 2,530 2,810 2,012 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 255,760 692 290 173,215 849 369 Equity contracts 17,374 1,213 658 13,920 1,362 79 Foreign exchange contracts 20,829 212 85 19,521 225 80 Credit contracts – protection purchased 220 38 — 100 27 — Subtotal 2,155 1,033 2,463 528 Customer accommodation trading and other derivatives: Interest rate contracts 11,130,569 22,302 18,979 9,162,821 15,349 15,303 Commodity contracts 72,255 1,424 1,936 66,173 1,588 2,336 Equity contracts 246,045 6,164 8,520 217,890 6,183 5,931 Foreign exchange contracts 353,918 4,803 5,021 364,982 5,916 5,657 Credit contracts – protection sold 10,507 15 80 11,741 76 182 Credit contracts – protection purchased 20,784 88 17 20,880 175 98 Subtotal 34,796 34,553 29,287 29,507 Total derivatives not designated as hedging instruments 36,951 35,586 31,750 30,035 Total derivatives before netting 40,050 38,116 34,560 32,047 Netting (3) (26,888 ) (29,717 ) (23,790 ) (23,548 ) Total $ 13,162 8,399 10,770 8,499 (1) The notional amount for foreign exchange contracts at June 30, 2019 , and December 31, 2018 , excludes $10.0 billion and $11.2 billion , respectively, for certain derivatives that are combined for designation as a hedge on a single instrument. (2) Includes economic hedge derivatives used to hedge the risk of changes in the fair value of residential MSRs, MLHFS, loans, derivative loan commitments and other interests held. (3) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Table 15.2 for further information. Table 15.2 provides information on the gross fair values of derivative assets and liabilities, the balance sheet netting adjustments and the resulting net fair value amount recorded on our balance sheet, as well as the non-cash collateral associated with such arrangements. We execute substantially all of our derivative transactions under master netting arrangements and reflect all derivative balances and related cash collateral subject to enforceable master netting arrangements on a net basis within the balance sheet. The “Gross amounts recognized” column in the following table includes $35.1 billion and $34.9 billion of gross derivative assets and liabilities, respectively, at June 30, 2019 , and $30.9 billion and $28.4 billion , respectively, at December 31, 2018 , with counterparties subject to enforceable master netting arrangements that are carried on the balance sheet net of offsetting amounts. The remaining gross derivative assets and liabilities of $5.0 billion and $3.2 billion , respectively, at June 30, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 , include those with counterparties subject to master netting arrangements for which we have not assessed the enforceability because they are with counterparties where we do not currently have positions to offset, those subject to master netting arrangements where we have not been able to confirm the enforceability and those not subject to master netting arrangements. As such, we do not net derivative balances or collateral within the balance sheet for these counterparties. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement. We disclose the balance sheet netting amounts within the column titled “Gross amounts offset in consolidated balance sheet.” Balance sheet netting adjustments are determined at the counterparty level for which there may be multiple contract types. For disclosure purposes, we allocate these netting adjustments to the contract type for each counterparty proportionally based upon the “Gross amounts recognized” by counterparty. As a result, the net amounts disclosed by contract type may not represent the actual exposure upon settlement of the contracts. We do not net non-cash collateral that we receive and pledge on the balance sheet. For disclosure purposes, we present the fair value of this non-cash collateral in the column titled “Gross amounts not offset in consolidated balance sheet (Disclosure-only netting)” within the table. We determine and allocate the Disclosure-only netting amounts in the same manner as balance sheet netting amounts. The “Net amounts” column within Table 15.2 represents the aggregate of our net exposure to each counterparty after considering the balance sheet and Disclosure-only netting adjustments. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty specific credit risk limits, using master netting arrangements and obtaining collateral. Derivative contracts executed in over-the-counter markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to master netting arrangements. The percentage of our bilateral derivative transactions outstanding at period end in such markets, based on gross fair value, is provided within the following table. Other derivative contracts executed in over-the-counter or exchange-traded markets are settled through a central clearing organization and are excluded from this percentage. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 15.2: Gross Fair Values of Derivative Assets and Liabilities (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (2) Net amounts Percent exchanged in over-the-counter market (3) June 30, 2019 Derivative assets Interest rate contracts $ 25,553 (16,558 ) 8,995 (313 ) 8,682 95 % Commodity contracts 1,424 (951 ) 473 (1 ) 472 73 Equity contracts 7,377 (5,041 ) 2,336 (34 ) 2,302 71 Foreign exchange contracts 5,555 (4,250 ) 1,305 (8 ) 1,297 100 Credit contracts – protection sold 15 (9 ) 6 — 6 74 Credit contracts – protection purchased 126 (79 ) 47 (1 ) 46 99 Total derivative assets $ 40,050 (26,888 ) 13,162 (357 ) 12,805 Derivative liabilities Interest rate contracts $ 20,637 (18,046 ) 2,591 (848 ) 1,743 95 % Commodity contracts 1,936 (738 ) 1,198 — 1,198 81 Equity contracts 9,178 (5,934 ) 3,244 (214 ) 3,030 84 Foreign exchange contracts 6,268 (4,918 ) 1,350 (197 ) 1,153 100 Credit contracts – protection sold 80 (75 ) 5 (3 ) 2 99 Credit contracts – protection purchased 17 (6 ) 11 — 11 98 Total derivative liabilities $ 38,116 (29,717 ) 8,399 (1,262 ) 7,137 December 31, 2018 Derivative assets Interest rate contracts $ 18,435 (12,029 ) 6,406 (80 ) 6,326 90 % Commodity contracts 1,588 (849 ) 739 (4 ) 735 57 Equity contracts 7,545 (5,318 ) 2,227 (755 ) 1,472 78 Foreign exchange contracts 6,714 (5,355 ) 1,359 (35 ) 1,324 100 Credit contracts – protection sold 76 (73 ) 3 — 3 12 Credit contracts – protection purchased 202 (166 ) 36 (1 ) 35 78 Total derivative assets $ 34,560 (23,790 ) 10,770 (875 ) 9,895 Derivative liabilities Interest rate contracts $ 16,308 (13,152 ) 3,156 (567 ) 2,589 92 % Commodity contracts 2,336 (727 ) 1,609 (8 ) 1,601 85 Equity contracts 6,010 (3,877 ) 2,133 (110 ) 2,023 75 Foreign exchange contracts 7,113 (5,522 ) 1,591 (188 ) 1,403 100 Credit contracts – protection sold 182 (180 ) 2 (2 ) — 67 Credit contracts – protection purchased 98 (90 ) 8 — 8 11 Total derivative liabilities $ 32,047 (23,548 ) 8,499 (875 ) 7,624 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in the consolidated balance sheet, including related cash collateral and portfolio level counterparty valuation adjustments. Counterparty valuation adjustments were $301 million and $353 million related to derivative assets and $92 million and $152 million related to derivative liabilities at June 30, 2019 , and December 31, 2018 , respectively. Cash collateral totaled $3.6 billion and $6.6 billion , netted against derivative assets and liabilities, respectively, at June 30, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 . (2) Represents the fair value of non-cash collateral pledged and received against derivative assets and liabilities with the same counterparty that are subject to enforceable master netting arrangements. U.S. GAAP does not permit netting of such non-cash collateral balances in the consolidated balance sheet but requires disclosure of these amounts. (3) Fair Value and Cash Flow Hedges For fair value hedges, we use interest rate swaps to convert certain of our fixed-rate long-term debt and time certificates of deposit to floating rates to hedge our exposure to interest rate risk. We also enter into cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge our exposure to foreign currency risk and interest rate risk associated with the issuance of non-U.S. dollar denominated long-term debt. In addition, we use interest rate swaps, cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge against changes in fair value of certain investments in available-for-sale debt securities due to changes in interest rates, foreign currency rates, or both. We also use interest rate swaps to hedge against changes in fair value for certain mortgage loans held for sale. For cash flow hedges, we use interest rate swaps to hedge the variability in interest payments received on certain floating-rate commercial loans and paid on certain floating-rate debt due to changes in the contractually specified interest rate. We estimate $247 million pre-tax of deferred net losses related to cash flow hedges in OCI at June 30, 2019 , will be reclassified into net interest income during the next twelve months. The deferred losses expected to be reclassified into net interest income are predominantly related to discontinued hedges of floating rate loans. For cash flow hedges as of June 30, 2019 , we are hedging the variability of future cash flows for a maximum of 7 years . For more information on our accounting hedges, see Note 1 (Summary of Significant Accounting Policies) and Note 16 (Derivatives) in our 2018 Form 10-K. Table 15.3 shows the net gains (losses) related to derivatives in fair value and cash flow hedging relationships. Table 15.3: Gains (Losses) Recognized in Consolidated Statement of Income on Fair Value and Cash Flow Hedging Relationships Net interest income Noninterest income (in millions) Debt securities Loans Mortgage loans held for sale Deposits Long-term debt Other Total Quarter ended June 30, 2019 Total amounts presented in the consolidated statement of income $ 3,781 11,316 195 (2,213 ) (1,900 ) 744 11,923 Gains (losses) on fair value hedging relationships Interest contracts Amounts related to interest settlements on derivatives (1) 14 — — (7 ) 7 — 14 Recognized on derivatives (1,089 ) — (25 ) 351 2,947 — 2,184 Recognized on hedged items 1,096 — 24 (343 ) (2,890 ) — (2,113 ) Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 10 — — — (128 ) — (118 ) Recognized on derivatives (3) (5 ) — — — 205 326 526 Recognized on hedged items 4 — — — (186 ) (315 ) (497 ) Net income (expense) recognized on fair value hedges 30 — (1 ) 1 (45 ) 11 (4 ) Gains (losses) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (77 ) — — 1 — (76 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) $ — — — — (3 ) — (3 ) Net income (expense) recognized on cash flow hedges $ — (77 ) — — (2 ) — (79 ) Six months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ 7,722 22,670 347 (4,239 ) (3,827 ) 1,318 23,991 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) 30 — — (30 ) — — — Recognized on derivatives (1,903 ) — (33 ) 558 4,933 — 3,555 Recognized on hedged items 1,913 — 31 (533 ) (4,837 ) — (3,426 ) Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 20 — — — (270 ) — (250 ) Recognized on derivatives (3) (9 ) — — — 497 (76 ) 412 Recognized on hedged items 9 — — — (452 ) 76 (367 ) Net income (expense) recognized on fair value hedges 60 — (2 ) (5 ) (129 ) — (76 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (155 ) — — 1 — (154 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — (4 ) — (4 ) Net income (expense) recognized on cash flow hedges $ — (155 ) — — (3 ) — (158 ) (continued on following page) (continued from previous page) Net interest income Noninterest income (in millions) Debt securities Loans Mortgage loans held for sale Deposits Long-term debt Other Total Quarter ended June 30, 2018 Total amounts presented in the consolidated statement of income $ 3,594 10,912 198 (1,268 ) (1,658 ) 485 12,263 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) (42 ) — (1 ) (20 ) 81 — 18 Recognized on derivatives 356 — 5 (41 ) (819 ) — (499 ) Recognized on hedged items (352 ) — (7 ) 31 780 — 452 Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 10 — — — (102 ) — (92 ) Recognized on derivatives (3) 2 — — — 97 (1,410 ) (1,311 ) Recognized on hedged items 1 — — — (82 ) 1,308 1,227 Net income (expense) recognized on fair value hedges (25 ) — (3 ) (30 ) (45 ) (102 ) (205 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (77 ) — — — — (77 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — — — — Net income (expense) recognized on cash flow hedges $ — (77 ) — — — — (77 ) Six months ended June 30, 2018 Total amounts presented in the consolidated statement of income $ 7,008 21,491 377 (2,358 ) (3,234 ) 1,087 24,371 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) (124 ) — (2 ) (25 ) 252 — 101 Recognized on derivatives 1,306 1 11 (190 ) (3,212 ) — (2,084 ) Recognized on hedged items (1,320 ) (1 ) (15 ) 172 3,114 — 1,950 Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 15 — — — (182 ) — (167 ) Recognized on derivatives (3) 6 — — — (74 ) (750 ) (818 ) Recognized on hedged items (2 ) — — — 27 681 706 Net income (expense) recognized on fair value hedges (119 ) — (6 ) (43 ) (75 ) (69 ) (312 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (137 ) — — — — (137 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — — — — Net income (expense) recognized on cash flow hedges $ — (137 ) — — — — (137 ) (1) Includes changes in fair value due to the passage of time associated with the non-zero fair value amount at hedge inception. (2) The second quarter and first half of 2019 included $7 million and $14 million , respectively, and the second quarter and first half of 2018 both included $2 million of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency debt securities and long-term debt that were excluded from the assessment of hedge effectiveness. (3) For certain fair value hedges of foreign currency risk, changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. See Note 21 (Other Comprehensive Income) for the amounts recognized in other comprehensive income. (4) See Note 21 (Other Comprehensive Income) for details of amounts reclassified to net income. Table 15.4 shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. Table 15.4: Hedged Items in Fair Value Hedging Relationship Hedged Items Currently Designated Hedged Items No Longer Designated (1) (in millions) Carrying Amount of Assets/(Liabilities) (2)(4) Hedge Accounting Basis Adjustment Assets/(Liabilities) (3) Carrying Amount of Assets/(Liabilities) (4) Hedge Accounting Basis Adjustment June 30, 2019 Available-for-sale debt securities (5) $ 39,478 1,226 5,704 110 Mortgage loans held for sale 852 16 388 4 Deposits (56,584 ) (425 ) — — Long-term debt (115,922 ) (5,999 ) (25,638 ) 270 December 31, 2018 Available-for-sale debt securities (5) 37,857 (157 ) 4,938 238 Mortgage loans held for sale 448 7 — — Deposits (56,535 ) 115 — — Long-term debt (104,341 ) (742 ) (25,539 ) 366 (1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date. (2) Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded $1.5 billion for debt securities and $(5.7) billion for long-term debt as of June 30, 2019 , and $1.6 billion for debt securities and $(6.3) billion for long-term debt as of December 31, 2018 . (3) The balance includes $828 million and $99 million of debt securities and long-term debt cumulative basis adjustments, respectively, as of June 30, 2019 , and $1.4 billion and $66 million of debt securities and long-term debt cumulative basis adjustments,respectively, as of December 31, 2018 , on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. (4) Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented. (5) Carrying amount represents the amortized cost. Derivatives Not Designated as Hedging Instruments We use economic hedge derivatives to hedge the risk of changes in the fair value of certain residential MLHFS, residential MSRs measured at fair value, derivative loan commitments and other interests held. We also use economic hedge derivatives to mitigate the periodic earnings volatility caused by mismatches between the changes in fair value of the hedged item and hedging instrument recognized on our fair value accounting hedges. The resulting gain or loss on these economic hedge derivatives is reflected in mortgage banking noninterest income, net gains (losses) from equity investments and other noninterest income. The derivatives used to hedge MSRs measured at fair value, resulted in net derivative gains (losses) of $1.2 billion and $2.1 billion in the second quarter and first half of 2019 , respectively, and $(319) million and $(1.5) billion in the second quarter and first half of 2018 , respectively, which are included in mortgage banking noninterest income. The aggregate fair value of these derivatives was a net asset of $602 million at June 30, 2019 , and net asset of $757 million at December 31, 2018 . The change in fair value of these derivatives for each period end is due to changes in the underlying market indices and interest rates as well as the purchase and sale of derivative financial instruments throughout the period as part of our dynamic MSR risk management process. Loan commitments for mortgage loans that we intend to sell are considered derivatives. The aggregate fair value of derivative loan commitments on the balance sheet was a net positive fair value of $94 million at June 30, 2019 and a net positive fair value of $60 million at December 31, 2018 , and is included in the caption “Interest rate contracts” under “Customer accommodation trading and other derivatives” in Table 15.1 in this Note. For more information on economic hedges and other derivatives, see Note 16 (Derivatives) to Financial Statements in our 2018 Form 10-K. Table 15.5 shows the net gains (losses) recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 15.5: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Quarter ended June 30, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 872 — — 2 874 Equity contracts — (658 ) — (7 ) (665 ) Foreign exchange contracts — — — 164 164 Credit contracts — — — (5 ) (5 ) Subtotal (2) 872 (658 ) — 154 368 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) 179 — (222 ) — (43 ) Commodity contracts — — 27 — 27 Equity contracts — — (1,110 ) (133 ) (1,243 ) Foreign exchange contracts — — (83 ) — (83 ) Credit contracts — — (16 ) — (16 ) Subtotal 179 — (1,404 ) (133 ) (1,358 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,051 (658 ) (1,404 ) 21 (990 ) Six months ended June 30, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 1,683 — — 7 1,690 Equity contracts — (1,543 ) — — (1,543 ) Foreign exchange contracts — — — 140 140 Credit contracts — — — 10 10 Subtotal (2) 1,683 (1,543 ) — 157 297 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) 297 — (506 ) — (209 ) Commodity contracts — — 78 — 78 Equity contracts — — (3,259 ) (406 ) (3,665 ) Foreign exchange contracts — — (69 ) — (69 ) Credit contracts — — (60 ) — (60 ) Subtotal 297 — (3,816 ) (406 ) (3,925 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,980 (1,543 ) (3,816 ) (249 ) (3,628 ) (continued on following page) (continued from previous page) Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Quarter ended June 30, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (185 ) — — (3 ) (188 ) Equity contracts — (540 ) — 5 (535 ) Foreign exchange contracts — — — 486 486 Credit contracts — — — (10 ) (10 ) Subtotal (2) (185 ) (540 ) — 478 (247 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) (46 ) — 182 — 136 Commodity contracts — — 35 — 35 Equity contracts — — 655 (71 ) 584 Foreign exchange contracts — — 91 — 91 Credit contracts — — (4 ) — (4 ) Subtotal (46 ) — 959 (71 ) 842 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (231 ) (540 ) 959 407 595 Six months ended June 30, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (780 ) — — 6 (774 ) Equity contracts — (598 ) — 5 (593 ) Foreign exchange contracts — — — 327 327 Credit contracts — — — (6 ) (6 ) Subtotal (2) (780 ) (598 ) — 332 (1,046 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) (305 ) — 567 — 262 Commodity contracts — — 74 — 74 Equity contracts — — 1,114 (266 ) 848 Foreign exchange contracts — — 401 — 401 Credit contracts — — 6 — 6 Subtotal (305 ) — 2,162 (266 ) 1,591 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (1,085 ) (598 ) 2,162 66 545 (1) Mortgage banking amounts for the second quarter and first half of 2019 are comprised of gains (losses) of $1.2 billion and $2.1 billion , respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $(283) million and $(434) million related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. The corresponding amounts for the second quarter and first half of 2018 are comprised of gains (losses) of $(319) million and $(1.5) billion offset by gains (losses) of $134 million and $759 million , respectively. (2) Includes hedging gains (losses) of $(18) million and $(36) million for the second quarter and first half of 2019 , respectively, and $8 million and $36 million for the second quarter and first half of 2018 , respectively, which partially offset hedge accounting ineffectiveness. (3) Amounts presented in mortgage banking noninterest income are gains (losses) on derivative loan commitments. Credit Derivatives Credit derivative contracts are arrangements whose value is derived from the transfer of credit risk of a reference asset or entity from one party (the purchaser of credit protection) to another party (the seller of credit protection). We use credit derivatives to assist customers with their risk management objectives. We may also use credit derivatives in structured product transactions or liquidity agreements written to special purpose vehicles. The maximum exposure of sold credit derivatives is managed through posted collateral, purchased credit derivatives and similar products in order to achieve our desired credit risk profile. This credit risk management provides an ability to recover a significant portion of any amounts that would be paid under the sold credit derivatives. We would be required to perform under sold credit derivatives in the event of default by the referenced obligors. Events of default include events such as bankruptcy, capital restructuring or lack of principal and/or interest payment. In certain cases, other triggers may exist, such as the credit downgrade of the referenced obligors or the inability of the special purpose vehicle for which we have provided liquidity to obtain funding. Table 15.6 provides details of sold and purchased credit derivatives. Table 15.6: Sold and Purchased Credit Derivatives Notional amount (in millions) Fair value liability Protection sold (A) Protection sold – non- investment grade Protection purchased with identical underlyings (B) Net protection sold (A) - (B) Other protection purchased Range of maturities June 30, 2019 Credit default swaps on: Corporate bonds $ 1 1,995 472 1,362 633 2,021 2019 - 2029 Structured products 31 138 133 109 29 113 2022 - 2047 Credit protection on: Default swap index — 1,897 194 163 1,734 3,923 2019 - 2029 Commercial mortgage-backed securities index 38 342 87 316 26 51 2047 - 2058 Asset-backed securities index 8 41 41 41 — 1 2045 - 2046 Other 2 6,094 5,796 — 6,094 12,904 2019 - 2048 Total credit derivatives $ 80 10,507 6,723 1,991 8,516 19,013 December 31, 2018 Credit default swaps on: Corporate bonds $ 59 2,037 441 1,374 663 1,460 2019 - 2027 Structured products 62 133 128 121 12 113 2022 - 2047 Credit protection on: Default swap index 1 3,618 582 1,998 1,620 2,896 2019 - 2028 Commercial mortgage-backed securities index 49 389 109 363 26 51 2047 - 2058 Asset-backed securities index 9 42 42 42 — 1 2045 - 2046 Other 2 5,522 5,327 — 5,522 12,561 2018 - 2048 Total credit derivatives $ 182 11,741 6,629 3,898 7,843 17,082 Protection sold represents the estimated maximum exposure to loss that would be incurred under an assumed hypothetical circumstance, where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. We believe this hypothetical circumstance to be a remote possibility and accordingly, this required disclosure is not an indication of expected loss. The amounts under non-investment grade represent the notional amounts of those credit derivatives on which we have a higher risk of being required to perform under the terms of the credit derivative and are a function of the underlying assets. We consider the risk of performance to be high if the underlying assets under the credit derivative have an external rating that is below investment grade or an internal credit default grade that is equivalent thereto. We believe the net protection sold, which is representative of the net notional amount of protection sold and purchased with identical underlyings, in combination with other protection purchased, is more representative of our exposure to loss than either non-investment grade or protection sold. Other protection purchased represents additional protection, which may offset the exposure to loss for protection sold, that was not purchased with an identical underlying of the protection sold. Credit-Risk Contingent Features Certain of our derivative contracts contain provisions whereby if the credit rating of our debt were to be downgraded by certain major credit rating agencies, the counterparty could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features that are in a net liability position was $10.7 billion at June 30, 2019 , and $7.4 billion at December 31, 2018 , for which we posted $9.2 billion and $5.6 billion , respectively, in collateral in the normal course of business. A credit rating below investment grade is the credit-risk-related contingent feature that if triggered requires the maximum amount of collateral to be posted. If the credit rating of our debt had been downgraded below investment grade, on June 30, 2019 , or December 31, 2018 , we would have been required to post additional collateral of $1.5 billion or $1.8 billion , respectively, or potentially settle the contract in an amount equal to its fair value. Some contracts require that we provide more collateral than the fair value of derivatives that are in a net liability position if a downgrade occurs. Counterparty Credit Risk By using derivatives, we are exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If a counterparty fails to perform, our counterparty credit risk is equal to the amount reported as a derivative asset on our balance sheet. The amounts reported as a derivative asset are derivative contracts in a gain position, and to the extent subject to legally enforceable master netting arrangements, net of derivatives in a loss position with the same counterparty and cash collateral received. We minimize counterparty credit risk through credit approvals, limits, monitoring procedures, executing master netting arrangements and obtaining collateral, where appropriate. To the extent the master netting arrangements |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Note 16: Fair Values of Assets and Liabilities We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Assets and liabilities recorded at fair value on a recurring basis are presented in Table 16.2 in this Note. From time to time, we may be required to record fair value adjustments on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of LOCOM accounting, measurement alternative accounting for nonmarketable equity securities or write-downs of individual assets. Assets recorded on a nonrecurring basis are presented in Table 16.1 3 in this Note. See Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K for discussion of how we determine fair value. For descriptions of the valuation methodologies we use for assets and liabilities recorded at fair value on a recurring or nonrecurring basis and for estimating fair value for financial instruments that are not recorded at fair value, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K. FAIR VALUE HIERARCHY We group our assets and liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 – Valuation is generated from techniques that use significant assumptions that are not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. We do not classify an equity security in the fair value hierarchy if we use the non-published net asset value (NAV) per share (or its equivalent) that has been communicated to us as an investor as a practical expedient to measure fair value. We use NAV per share as the fair value measurement for certain nonmarketable equity fund investments. Marketable equity securities with published NAVs continue to be classified in the fair value hierarchy. Fair Value Measurements from Vendors For certain assets and liabilities, we obtain fair value measurements from vendors, which predominantly consist of third-party pricing services, and record the unadjusted fair value in our financial statements. For additional information, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K. Table 16.1 presents unadjusted fair value measurements provided by brokers or third-party pricing services by fair value hierarchy level. Fair value measurements obtained from brokers or third-party pricing services that we have adjusted to determine the fair value recorded in our financial statements are excluded from Table 16.1 . Table 16.1: Fair Value Measurements by Brokers or Third-Party Pricing Services Brokers Third-party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 June 30, 2019 Trading debt securities $ — — — 534 319 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies — — — 12,324 2,995 — Securities of U.S. states and political subdivisions — — — — 44,642 38 Mortgage-backed securities — — — — 161,260 41 Other debt securities (1) — 45 130 — 41,947 663 Total available-for-sale debt securities — 45 130 12,324 250,844 742 Equity securities: Marketable — — — — 160 — Nonmarketable — — — — — — Total equity securities — — — — 160 — Derivative assets — — — 12 — — Derivative liabilities — — — (13 ) (2 ) — Other liabilities (2) — — — — — — December 31, 2018 Trading debt securities $ — — — 899 256 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies — — — 10,399 2,949 — Securities of U.S. states and political subdivisions — — — — 48,377 43 Mortgage-backed securities — — — — 160,162 41 Other debt securities (1) — 45 129 — 44,292 758 Total available-for-sale debt securities — 45 129 10,399 255,780 842 Equity securities: Marketable — — — — 158 — Nonmarketable — — — — 1 — Total equity securities — — — — 159 — Derivative assets — — — 17 — — Derivative liabilities — — — (12 ) — — Other liabilities (2) — — — — — — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. (2) Includes short sale liabilities and other liabilities. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Table 16.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 16.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting (1) Total June 30, 2019 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 15,010 3,215 — — 18,225 Securities of U.S. states and political subdivisions — 3,314 — — 3,314 Collateralized loan obligations — 758 249 — 1,007 Corporate debt securities — 11,321 44 — 11,365 Mortgage-backed securities — 35,186 — — 35,186 Asset-backed securities — 1,084 — — 1,084 Other trading debt securities — 13 14 — 27 Total trading debt securities 15,010 54,891 307 — 70,208 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 12,324 2,995 — — 15,319 Securities of U.S. states and political subdivisions — 44,704 391 — 45,095 Mortgage-backed securities: Federal agencies — 155,858 — — 155,858 Residential — 1,263 — — 1,263 Commercial — 4,139 41 — 4,180 Total mortgage-backed securities — 161,260 41 — 161,301 Corporate debt securities 37 5,810 383 — 6,230 Collateralized loan and other debt obligations (2) — 32,346 649 — 32,995 Asset-backed securities: Automobile loans and leases — 889 — — 889 Home equity loans — 14 — — 14 Other asset-backed securities — 3,792 341 — 4,133 Total asset-backed securities — 4,695 341 — 5,036 Other debt securities — 7 — — 7 Total available-for-sale debt securities 12,361 251,817 1,805 (3) — 265,983 Mortgage loans held for sale — 15,228 1,115 — 16,343 Loans held for sale — 1,106 12 — 1,118 Loans — — 202 — 202 Mortgage servicing rights (residential) — — 12,096 — 12,096 Derivative assets: Interest rate contracts 45 25,258 250 — 25,553 Commodity contracts — 1,404 20 — 1,424 Equity contracts 2,162 3,300 1,915 — 7,377 Foreign exchange contracts 12 5,522 21 — 5,555 Credit contracts — 62 79 — 141 Netting — — — (26,888 ) (26,888 ) Total derivative assets 2,219 35,546 2,285 (26,888 ) 13,162 Equity securities - excluding securities at NAV: Marketable 28,447 259 — — 28,706 Nonmarketable — 16 7,110 — 7,126 Total equity securities 28,447 275 7,110 — 35,832 Total assets included in the fair value hierarchy $ 58,037 358,863 24,932 (26,888 ) 414,944 Equity securities at NAV (4) 118 Total assets recorded at fair value 415,062 Derivative liabilities: Interest rate contracts $ (55 ) (20,537 ) (45 ) — (20,637 ) Commodity contracts — (1,887 ) (49 ) — (1,936 ) Equity contracts (1,509 ) (5,526 ) (2,143 ) — (9,178 ) Foreign exchange contracts (13 ) (6,224 ) (31 ) — (6,268 ) Credit contracts — (63 ) (34 ) — (97 ) Netting — — — 29,717 29,717 Total derivative liabilities (1,577 ) (34,237 ) (2,302 ) 29,717 (8,399 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (7,768 ) (230 ) — — (7,998 ) Mortgage-backed securities — (533 ) — — (533 ) Asset-backed securities — (10 ) — — (10 ) Corporate debt securities — (4,887 ) — — (4,887 ) Equity securities (2,527 ) — — — (2,527 ) Other securities — — — — — Total short sale liabilities (10,295 ) (5,660 ) — — (15,955 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (11,872 ) (39,897 ) (2,304 ) 29,717 (24,356 ) (1) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information. (2) Includes collateralized debt obligations of $649 million . (3) A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting (1) Total December 31, 2018 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 20,525 2,892 — — 23,417 Securities of U.S. states and political subdivisions — 3,272 3 — 3,275 Collateralized loan obligations — 673 237 — 910 Corporate debt securities — 10,723 34 — 10,757 Mortgage-backed securities — 30,715 — — 30,715 Asset-backed securities — 893 — — 893 Other trading debt securities — 6 16 — 22 Total trading debt securities 20,525 49,174 290 — 69,989 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 10,399 2,949 — — 13,348 Securities of U.S. states and political subdivisions — 48,820 444 — 49,264 Mortgage-backed securities: Federal agencies — 153,203 — — 153,203 Residential — 2,775 — — 2,775 Commercial — 4,184 41 — 4,225 Total mortgage-backed securities — 160,162 41 — 160,203 Corporate debt securities 34 5,867 370 — 6,271 Collateralized loan and other debt obligations (2) — 34,543 800 — 35,343 Asset-backed securities: Automobile loans and leases — 925 — — 925 Home equity loans — 112 — — 112 Other asset-backed securities — 4,056 389 — 4,445 Total asset-backed securities — 5,093 389 — 5,482 Other debt securities — 1 — — 1 Total available-for-sale debt securities 10,433 257,435 2,044 (3) — 269,912 Mortgage loans held for sale — 10,774 997 — 11,771 Loans held for sale — 1,409 60 — 1,469 Loans — — 244 — 244 Mortgage servicing rights (residential) — — 14,649 — 14,649 Derivative assets: Interest rate contracts 46 18,294 95 — 18,435 Commodity contracts — 1,535 53 — 1,588 Equity contracts 1,648 4,582 1,315 — 7,545 Foreign exchange contracts 17 6,689 8 — 6,714 Credit contracts — 179 99 — 278 Netting — — — (23,790 ) (23,790 ) Total derivative assets 1,711 31,279 1,570 (23,790 ) 10,770 Equity securities - excluding securities at NAV: Marketable 23,205 757 — — 23,962 Nonmarketable — 24 5,468 — 5,492 Total equity securities 23,205 781 5,468 — 29,454 Total assets included in the fair value hierarchy $ 55,874 350,852 25,322 (23,790 ) 408,258 Equity securities at NAV (4) 102 Total assets recorded at fair value 408,360 Derivative liabilities: Interest rate contracts $ (21 ) (16,217 ) (70 ) — (16,308 ) Commodity contracts — (2,287 ) (49 ) — (2,336 ) Equity contracts (1,492 ) (3,186 ) (1,332 ) — (6,010 ) Foreign exchange contracts (12 ) (7,067 ) (34 ) — (7,113 ) Credit contracts — (216 ) (64 ) — (280 ) Netting — — — 23,548 23,548 Total derivative liabilities (1,525 ) (28,973 ) (1,549 ) 23,548 (8,499 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (11,850 ) (411 ) — — (12,261 ) Mortgage-backed securities — (47 ) — — (47 ) Corporate debt securities — (4,505 ) — — (4,505 ) Equity securities (2,902 ) (2 ) — — (2,904 ) Other securities — (3 ) — — (3 ) Total short sale liabilities (14,752 ) (4,968 ) — — (19,720 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (16,277 ) (33,941 ) (1,551 ) 23,548 (28,221 ) (1) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information. (2) Includes collateralized debt obligations of $800 million . (3) A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. Changes in Fair Value Levels We monitor the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy and transfer between Level 1, Level 2, and Level 3 accordingly. Observable market data includes but is not limited to quoted prices and market transactions. Changes in economic conditions or market liquidity generally will drive changes in availability of observable market data. Changes in availability of observable market data, which also may result in changing the valuation technique used, are generally the cause of transfers between Level 1, Level 2, and Level 3. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2019 , are presented in Table 16.3 . Table 16.3: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2019 Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (4) (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period Quarter ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — — — — Collateralized loan obligations 275 (2 ) — (24 ) — — 249 (6 ) Corporate debt securities 41 1 — 3 — (1 ) 44 1 Other trading debt securities 15 (1 ) — — — — 14 — Total trading debt securities 331 (2 ) — (21 ) — (1 ) 307 (5 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 470 1 2 (33 ) — (49 ) 391 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — — — — 41 — Total mortgage-backed securities 41 — — — — — 41 — Corporate debt securities 377 — (1 ) 7 — — 383 — Collateralized loan and other debt obligations 755 7 (6 ) (107 ) — — 649 — Asset-backed securities: Other asset-backed securities 362 — — (21 ) — — 341 — Total asset-backed securities 362 — — (21 ) — — 341 — Total available-for-sale debt securities 2,005 8 (5 ) (154 ) — (49 ) 1,805 — (6) Mortgage loans held for sale 998 37 — (22 ) 104 (2 ) 1,115 39 (7) Loans held for sale 71 — — (3 ) — (56 ) 12 — Loans 225 1 — (24 ) — — 202 (2 ) (7) Mortgage servicing rights (residential)(8) 13,336 (1,639 ) — 399 — — 12,096 (1,078 ) (7) Net derivative assets and liabilities: Interest rate contracts 101 237 — (133 ) — — 205 141 Commodity contracts (18 ) (75 ) — 64 — — (29 ) (10 ) Equity contracts (162 ) 15 — (66 ) (2 ) (13 ) (228 ) (29 ) Foreign exchange contracts (16 ) 3 — 3 — — (10 ) 7 Credit contracts 49 (3 ) — (1 ) — — 45 (3 ) Total derivative contracts (46 ) 177 — (133 ) (2 ) (13 ) (17 ) 106 (9) Equity securities: Nonmarketable 6,381 724 — — 5 — 7,110 724 Total equity securities 6,381 724 — — 5 — 7,110 724 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.4 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.4 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2019 . Table 16.4: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2019 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 44 (65 ) — (3 ) (24 ) Corporate debt securities 6 (3 ) — — 3 Other trading debt securities — — — — — Total trading debt securities 50 (68 ) — (3 ) (21 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — 6 (39 ) (33 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 8 — — (1 ) 7 Collateralized loan and other debt obligations — — — (107 ) (107 ) Asset-backed securities: Other asset-backed securities — (2 ) 57 (76 ) (21 ) Total asset-backed securities — (2 ) 57 (76 ) (21 ) Total available-for-sale debt securities 8 (2 ) 63 (223 ) (154 ) Mortgage loans held for sale 30 (47 ) 54 (59 ) (22 ) Loans held for sale — (1 ) — (2 ) (3 ) Loans — — 2 (26 ) (24 ) Mortgage servicing rights (residential) (1) — (1 ) 400 — 399 Net derivative assets and liabilities: Interest rate contracts — — — (133 ) (133 ) Commodity contracts — — — 64 64 Equity contracts — — — (66 ) (66 ) Foreign exchange contracts — — — 3 3 Credit contracts 2 (3 ) — — (1 ) Total derivative contracts 2 (3 ) — (132 ) (133 ) Equity securities: Nonmarketable — — — — — Total equity securities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (continued from previous page) Table 16.5 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018 . Table 16.5: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2018 Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period (4) Quarter ended June 30, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 316 (6 ) — (19 ) — — 291 (8 ) Corporate debt securities 34 — — 3 — (1 ) 36 1 Other trading debt securities 18 (1 ) — — — — 17 — Total trading debt securities 371 (7 ) — (16 ) — (1 ) 347 (7 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 617 1 — (49 ) — (10 ) 559 — Mortgage-backed securities: Residential 1 — (1 ) — — — — — Commercial 67 — (1 ) (13 ) — — 53 — Total mortgage-backed securities 68 — (2 ) (13 ) — — 53 — Corporate debt securities 410 1 1 31 — — 443 — Collateralized loan and other debt obligations 1,045 6 10 (24 ) — — 1,037 — Asset-backed securities: Other asset-backed securities 501 — (1 ) (99 ) — — 401 — Total asset-backed securities 501 — (1 ) (99 ) — — 401 — Total available-for-sale debt securities 2,641 8 8 (154 ) — (10 ) 2,493 — (6) Mortgage loans held for sale 950 (11 ) — 25 25 (3 ) 986 (11 ) (7) Loans held for sale — (1 ) — — 21 — 20 — Loans 352 — — (31 ) — — 321 (4 ) (7) Mortgage servicing rights (residential) (8) 15,041 (115 ) — 485 — — 15,411 345 (7) Net derivative assets and liabilities: Interest rate contracts (8 ) (63 ) — 30 — — (41 ) 6 Commodity contracts 10 15 — (2 ) 3 — 26 21 Equity contracts (322 ) (12 ) — (7 ) — 2 (339 ) 261 Foreign exchange contracts 1 (18 ) — 2 — — (15 ) (13 ) Credit contracts 41 (12 ) — (5 ) — — 24 (17 ) Total derivative contracts (278 ) (90 ) — 18 3 2 (345 ) 258 (9) Equity securities: Nonmarketable 5,219 585 — — 6 (4 ) 5,806 586 Total equity securities 5,219 585 — — 6 (4 ) 5,806 586 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.6 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.6 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018 . Table 16.6: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2018 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 89 (39 ) — (69 ) (19 ) Corporate debt securities 4 (1 ) — — 3 Other trading debt securities — — — — — Total trading debt securities 93 (40 ) — (69 ) (16 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — — (49 ) (49 ) Mortgage-backed securities: Residential — — — — — Commercial — — — (13 ) (13 ) Total mortgage-backed securities — — — (13 ) (13 ) Corporate debt securities 31 — — — 31 Collateralized loan and other debt obligations — — — (24 ) (24 ) Asset-backed securities: Other asset-backed securities — — 9 (108 ) (99 ) Total asset-backed securities — — 9 (108 ) (99 ) Total available-for-sale debt securities 31 — 9 (194 ) (154 ) Mortgage loans held for sale 20 (68 ) 109 (36 ) 25 Loans held for sale — — — — — Loans — — 4 (35 ) (31 ) Mortgage servicing rights (residential) (1) — (1 ) 486 — 485 Net derivative assets and liabilities: Interest rate contracts — — — 30 30 Commodity contracts — — — (2 ) (2 ) Equity contracts — — — (7 ) (7 ) Foreign exchange contracts — — — 2 2 Credit contracts 5 (2 ) — (8 ) (5 ) Total derivative contracts 5 (2 ) — 15 18 Equity securities: Nonmarketable — — — — — Total equity securities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019 , are presented in Table 16.7 . Table 16.7: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2019 Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (4) (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period Six months ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — (2 ) — (1 ) — — Collateralized loan obligations 237 (5 ) — 17 — — 249 (4 ) Corporate debt securities 34 3 — 7 1 (1 ) 44 3 Other trading debt securities 16 (2 ) — — — — 14 — Total trading debt securities 290 (4 ) — 22 1 (2 ) 307 (1 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 444 1 5 (10 ) — (49 ) 391 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — — — — 41 — Total mortgage-backed securities 41 — — — — — 41 — Corporate debt securities 370 1 3 9 — — 383 — Collateralized loan and other debt obligations 800 13 (10 ) (154 ) — — 649 — Asset-backed securities: Other asset-backed securities 389 — (1 ) (47 ) — — 341 — Total asset-backed securities 389 — (1 ) (47 ) — — 341 — Total available-for-sale debt securities 2,044 15 (3 ) (202 ) — (49 ) 1,805 — (6) Mortgage loans held for sale 997 52 — (88 ) 160 (6 ) 1,115 54 (7) Loans held for sale 60 — — 8 37 (93 ) 12 — Loans 244 1 — (43 ) — — 202 (4 ) (7) Mortgage servicing rights (residential) (8) 14,649 (3,012 ) — 459 — — 12,096 (1,969 ) (7) Net derivative assets and liabilities: Interest rate contracts 25 424 — (244 ) — — 205 220 Commodity contracts 4 (126 ) — 91 2 — (29 ) (26 ) Equity contracts (17 ) (104 ) — (69 ) 7 (45 ) (228 ) (175 ) Foreign exchange contracts (26 ) 10 — 6 — — (10 ) 17 Credit contracts 35 5 — 5 — — 45 10 Total derivative contracts 21 209 — (211 ) 9 (45 ) (17 ) 46 (9) Equity securities: Nonmarketable 5,468 1,650 — (1 ) 5 (12 ) 7,110 1,650 Total equity securities 5,468 1,650 — (1 ) 5 (12 ) 7,110 1,650 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.8 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.8 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019 . Table 16.8: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2019 (in millions) Purchases Sales Issuances Settlements Net Six months ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — (2 ) (2 ) Collateralized loan obligations 174 (152 ) — (5 ) 17 Corporate debt securities 11 (4 ) — — 7 Other trading debt securities — — — — — Total trading debt securities 185 (156 ) — (7 ) 22 Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — 55 (65 ) (10 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 11 — — (2 ) 9 Collateralized loan and other debt obligations — — — (154 ) (154 ) Asset-backed securities: Other asset-backed securities — (5 ) 123 (165 ) (47 ) Total asset-backed securities — (5 ) 123 (165 ) (47 ) Total available-for-sale debt securities 11 (5 ) 178 (386 ) (202 ) Mortgage loans held for sale 46 (140 ) 100 (94 ) (88 ) Loans held for sale 12 (2 ) — (2 ) 8 Loans 2 — 5 (50 ) (43 ) Mortgage servicing rights (residential) (1) — (282 ) 741 — 459 Net derivative assets and liabilities: Interest rate contracts — — — (244 ) (244 ) Commodity contracts — — — 91 91 Equity contracts — — — (69 ) (69 ) Foreign exchange contracts — — — 6 6 Credit contracts 8 (3 ) — — 5 Total derivative contracts 8 (3 ) — (216 ) (211 ) Equity securities: Nonmarketable — (1 ) — — (1 ) Total equity securities — (1 ) — — (1 ) Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2018 , are presented in Table 16.9 . Table 16.9: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2018 Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period (4) Six months ended June 30, 2018 Trading debt securities: Securities of U.S. states and $ 3 — — — — — 3 — Collateralized loan obligations 354 (4 ) — (59 ) — — 291 — Corporate debt securities 31 — — 6 — (1 ) 36 — Other trading debt securities 19 (2 ) — — — — 17 — Total trading debt securities 407 (6 ) — (53 ) — (1 ) 347 — (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 925 5 (2 ) (90 ) — (279 ) 559 — Mortgage-backed securities: Residential 1 — (1 ) — — — — — Commercial 75 1 (2 ) (21 ) — — 53 — Total mortgage-backed securities 76 1 (3 ) (21 ) — — 53 — Corporate debt securities 407 2 4 30 — — 443 — Collateralized loan and other debt obligations 1,020 11 53 (47 ) — — 1,037 — Asset-backed securities: Other asset-backed securities 566 8 (8 ) (165 ) — — 401 — Total asset-backed securities 566 8 (8 ) (165 ) — — 401 — Total available-for-sale debt securities 2,994 27 44 (293 ) — (279 ) 2,493 — (6) Mortgage loans held for sale 998 (34 ) — (12 ) 40 (6 ) 986 (32 ) (7) Loans held for sale 14 1 — (16 ) 21 — 20 — Loans 376 (1 ) — (54 ) — — 321 (7 ) (7) Mortgage servicing rights (residential) (8) 13,625 732 — 1,054 — — 15,411 1,675 (7) Net derivative assets and liabilities: Interest rate contracts 71 (408 ) — 296 — — (41 ) (94 ) Commodity contracts 19 30 — (26 ) 3 — 26 22 Equity contracts (511 ) 57 — 64 — 51 (339 ) 80 Foreign exchange contracts 7 (25 ) — 3 — — (15 ) (17 ) Credit contracts 36 (4 ) — (8 ) — — 24 (8 ) Total derivative contracts (378 ) (350 ) — 329 3 51 (345 ) (17 ) (9) Equity securities: Nonmarketable 5,203 693 — (96 ) 10 (4 ) 5,806 687 Total equity securities 5,203 693 — (96 ) 10 (4 ) 5,806 687 (10) Other liabilities (3 ) 1 — — — — (2 ) — (7) (1) See Table 16.10 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.10 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liab |
Preferred Stock
Preferred Stock | 6 Months Ended |
Jun. 30, 2019 | |
Preferred Stock [Abstract] | |
Preferred Stock | Note 17: Preferred Stock We are authorized to issue 20 million shares of preferred stock and 4 million shares of preference stock, both without par value. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference but have no general voting rights. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share. Our total authorized, issued and outstanding preferred stock is presented in the following two tables along with the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. Table 17.1: Preferred Stock Shares June 30, 2019 December 31, 2018 Liquidation preference per share Shares authorized and designated Liquidation preference per share Shares authorized and designated DEP Shares Dividend Equalization Preferred Shares (DEP) $ 10 97,000 $ 10 97,000 Series I Floating Class A Preferred Stock (1) 100,000 25,010 100,000 25,010 Series K Floating Non-Cumulative Perpetual Class A Preferred Stock (2) 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 1,000 4,025,000 1,000 4,025,000 Series N 5.20% Non-Cumulative Perpetual Class A Preferred Stock 25,000 30,000 25,000 30,000 Series O 5.125% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 Series P 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 26,400 25,000 26,400 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 69,000 25,000 69,000 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 34,500 25,000 34,500 Series S 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 32,200 25,000 32,200 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series V 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.70% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series X 5.50% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 25,000 46,000 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 ESOP Cumulative Convertible Preferred Stock (3) — 1,213,418 — 1,406,460 Total 9,393,728 9,586,770 (1) Series I preferred stock issuance relates to trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. This issuance has a floating interest rate that is the greater of three-month LIBOR plus 0.93% and 5.56975%. (2) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (3) See the ESOP Cumulative Convertible Preferred Stock section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. Table 17.2: Preferred Stock – Shares Issued and Carrying Value June 30, 2019 December 31, 2018 (in millions, except shares) Shares issued and outstanding Liquidation preference value Carrying value Discount Shares issued and outstanding Liquidation preference value Carrying value Discount DEP Shares Dividend Equalization Preferred Shares (DEP) 96,546 $ — — — 96,546 $ — — — Series I (1)(2) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series K (1)(3) Floating Non-Cumulative Perpetual Class A Preferred Stock 3,352,000 3,352 2,876 476 3,352,000 3,352 2,876 476 Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,967,995 3,968 3,200 768 3,968,000 3,968 3,200 768 Series N (1) 5.20% Non-Cumulative Perpetual Class A Preferred Stock 30,000 750 750 — 30,000 750 750 — Series O (1) 5.125% Non-Cumulative Perpetual Class A Preferred Stock 26,000 650 650 — 26,000 650 650 — Series P (1) 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 625 625 — 25,000 625 625 — Series Q (1) 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 1,725 1,725 — 69,000 1,725 1,725 — Series R (1) 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 33,600 840 840 — 33,600 840 840 — Series S (1) 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series T (1) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 32,000 800 800 — 32,000 800 800 — Series U (1) 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series V (1) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.70% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series X (1) 5.50% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — 46,000 1,150 1,150 — Series Y (1) 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 690 690 — 27,600 690 690 — ESOP Cumulative Convertible Preferred Stock 1,213,418 1,214 1,214 — 1,406,460 1,407 1,407 — Total 9,184,169 $ 24,265 23,021 1,244 9,377,216 $ 24,458 23,214 1,244 (1) Preferred shares qualify as Tier 1 capital. (2) Floating rate for Preferred Stock, Series I, is the greater of three-month LIBOR plus 0.93% and 5.56975%. (3) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. ESOP CUMULATIVE CONVERTIBLE PREFERRED STOCK All shares of our ESOP Cumulative Convertible Preferred Stock (ESOP Preferred Stock) were issued to a trustee acting on behalf of the Wells Fargo & Company 401(k) Plan (the 401(k) Plan). Dividends on the ESOP Preferred Stock are cumulative from the date of initial issuance and are payable quarterly at annual rates based upon the year of issuance. Each share of ESOP Preferred Stock released from the unallocated reserve of the 401(k) Plan is converted into shares of our common stock based on the stated value of the ESOP Preferred Stock and the then current market price of our common stock. The ESOP Preferred Stock is also convertible at the option of the holder at any time, unless previously redeemed. We have the option to redeem the ESOP Preferred Stock at any time, in whole or in part, at a redemption price per share equal to the higher of (a) $1,000 per share plus accrued and unpaid dividends or (b) the fair market value, as defined in the Certificates of Designation for the ESOP Preferred Stock. Table 17.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 336,945 336,945 337 337 7.00 % 8.00 % 2017 222,210 222,210 222 222 7.00 8.00 2016 227,450 233,835 228 234 9.30 10.30 2015 116,784 144,338 117 144 8.90 9.90 2014 136,151 174,151 136 174 8.70 9.70 2013 97,948 133,948 98 134 8.50 9.50 2012 49,134 77,634 49 78 10.00 11.00 2011 26,796 61,796 27 62 9.00 10.00 2010 (1) — 21,603 — 22 9.50 10.50 Total ESOP Preferred Stock (2) 1,213,418 1,406,460 $ 1,214 1,407 Unearned ESOP shares (3) $ (1,292 ) (1,502 ) (1) In April 2019, all of the 2010 ESOP Preferred Stock was converted into common stock. (2) At June 30, 2019 and December 31, 2018, additional paid-in capital included $78 million and $95 million , respectively, related to ESOP preferred stock. (3) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Note 18: Revenue from Contracts with Customers Our revenue includes net interest income on financial instruments and noninterest income. Table 18.1 presents our revenue by operating segment. The “Other” segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for WIM customers served through Community Banking distribution channels. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 22 (Operating Segments). We adopted ASU 2014-09 – Revenue from Contracts with Customers on a modified retrospective basis as of January 1, 2018. For details on the impact of the adoption of this ASU, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 18.1 : Revenue by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Net interest income (1) $ 7,066 7,346 4,535 4,693 1,037 1,111 (543 ) (609 ) 12,095 12,541 Noninterest income: Service charges on deposit accounts 704 632 502 530 4 5 (4 ) (4 ) 1,206 1,163 Trust and investment fees: Brokerage advisory, commissions and other fees 480 465 74 78 2,248 2,284 (484 ) (473 ) 2,318 2,354 Trust and investment management 199 220 117 110 687 731 (208 ) (226 ) 795 835 Investment banking (18 ) — 475 485 (1 ) 1 (1 ) — 455 486 Total trust and investment fees 661 685 666 673 2,934 3,016 (693 ) (699 ) 3,568 3,675 Card fees 929 904 95 96 2 2 (1 ) (1 ) 1,025 1,001 Other fees: Lending related charges and fees (1)(2) 65 69 284 307 2 2 (2 ) (2 ) 349 376 Cash network fees 117 118 — 2 — — — — 117 120 Commercial real estate brokerage commissions — — 105 109 — — — — 105 109 Wire transfer and other remittance fees 71 67 49 53 2 2 (1 ) (1 ) 121 121 All other fees(1) 82 94 26 25 — 1 — — 108 120 Total other fees 335 348 464 496 4 5 (3 ) (3 ) 800 846 Mortgage banking (1) 655 695 104 75 (3 ) (2 ) 2 2 758 770 Insurance (1) 11 16 75 78 17 18 (10 ) (10 ) 93 102 Net gains (losses) from trading activities (1) (11 ) 24 226 154 13 13 1 — 229 191 Net gains (losses) on debt securities (1) 15 (2 ) 5 42 — 1 — — 20 41 Net gains from equity securities (1) 471 409 116 89 35 (203 ) — — 622 295 Lease income (1) — — 424 443 — — — — 424 443 Other income of the segment (1) 969 749 (147 ) (172 ) 7 (15 ) (85 ) (77 ) 744 485 Total noninterest income 4,739 4,460 2,530 2,504 3,013 2,840 (793 ) (792 ) 9,489 9,012 Revenue $ 11,805 11,806 7,065 7,197 4,050 3,951 (1,336 ) (1,401 ) 21,584 21,553 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Net interest income (1) $ 14,314 14,541 9,069 9,225 2,138 2,223 (1,115 ) (1,210 ) 24,406 24,779 Noninterest income: Service charges on deposit accounts 1,314 1,271 985 1,064 8 9 (7 ) (8 ) 2,300 2,336 Trust and investment fees: Brokerage advisory, commissions and other fees 929 943 152 145 4,372 4,628 (942 ) (959 ) 4,511 4,757 Trust and investment management 409 453 231 223 1,363 1,474 (422 ) (465 ) 1,581 1,685 Investment banking (38 ) (10 ) 887 925 4 1 (4 ) — 849 916 Total trust and investment fees 1,300 1,386 1,270 1,293 5,739 6,103 (1,368 ) (1,424 ) 6,941 7,358 Card fees 1,787 1,725 181 183 3 3 (2 ) (2 ) 1,969 1,909 Other fees: Lending related charges and fees (1)(2) 130 145 566 611 4 4 (4 ) (4 ) 696 756 Cash network fees 226 243 — 3 — — — — 226 246 Commercial real estate brokerage commissions — — 186 194 — — — — 186 194 Wire transfer and other remittance fees 135 130 97 105 4 4 (2 ) (2 ) 234 237 All other fees (1) 176 157 52 55 — 1 — — 228 213 Total other fees 667 675 901 968 8 9 (6 ) (6 ) 1,570 1,646 Mortgage banking (1) 1,296 1,537 172 168 (6 ) (5 ) 4 4 1,466 1,704 Insurance (1) 22 44 153 157 34 36 (20 ) (21 ) 189 216 Net gains (losses) from trading activities (1) (6 ) 23 559 379 32 32 1 — 586 434 Net gains on debt securities (1) 52 (2 ) 93 43 — 1 — — 145 42 Net gains from equity securities (1) 1,072 1,093 193 182 171 (197 ) — — 1,436 1,078 Lease income (1) — — 867 898 — — — — 867 898 Other income of the segment (1) 1,737 1,343 (267 ) (84 ) 2 (21 ) (154 ) (151 ) 1,318 1,087 Total noninterest income 9,241 9,095 5,107 5,251 5,991 5,970 (1,552 ) (1,608 ) 18,787 18,708 Revenue $ 23,555 23,636 14,176 14,476 8,129 8,193 (2,667 ) (2,818 ) 43,193 43,487 (1) Most of our revenue is not within the scope of Accounting Standards Update (ASU) 2014-09 – Revenue from Contracts with Customers , and additional details are included in other footnotes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives. (2) Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees.” We provide services to customers which have related performance obligations that we complete to recognize revenue. Our revenues are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time. SERVICE CHARGES ON DEPOSIT ACCOUNTS are earned on depository accounts for commercial and consumer customers and include fees for account and overdraft services. Account charges include fees for periodic account maintenance activities and event-driven services such as stop payment fees. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft. Table 18.2 presents our service charges on deposit accounts by operating segment. Table 18.2 : Service Charges on Deposit Accounts by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Overdraft fees $ 496 416 1 1 1 1 — — 498 418 Account charges 208 216 501 529 3 4 (4 ) (4 ) 708 745 Service charges on deposit accounts $ 704 632 502 530 4 5 (4 ) (4 ) 1,206 1,163 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Overdraft fees $ 913 828 2 3 1 1 — — 916 832 Account charges 401 443 983 1,061 7 8 (7 ) (8 ) 1,384 1,504 Service charges on deposit accounts $ 1,314 1,271 985 1,064 8 9 (7 ) (8 ) 2,300 2,336 BROKERAGE ADVISORY, COMMISSIONS AND OTHER FEES are earned for providing full-service and discount brokerage services predominantly to retail brokerage clients. These revenues include fees earned on asset-based and transactional accounts and other brokerage advisory services. Asset-based revenues are charged based on the market value of the client’s assets. The services and related obligations associated with certain of these revenues, which include investment advice, active management of client assets, or assistance with selecting and engaging a third-party advisory manager, are generally satisfied over a month or quarter. The remaining revenues include trailing commissions which are earned for selling shares to investors. Our obligation associated with earning trailing commissions is satisfied at the time shares are sold. However, these fees are received and recognized over time during the period the customer owns the shares and we remain the broker of record. The amount of trailing commissions is variable based on the length of time the customer holds the shares and on changes in the value of the underlying assets. Transactional revenues are earned for executing transactions at the client’s direction. Our obligation is generally satisfied upon the execution of the transaction and the fees are based on the size and number of transactions executed. Other revenues earned from other brokerage advisory services include omnibus and networking fees received from mutual fund companies in return for providing record keeping and other administrative services, and annual account maintenance fees charged to customers. Table 18.3 presents our brokerage advisory, commissions and other fees by operating segment. Table 18.3 : Brokerage Advisory, Commissions and Other Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Asset-based revenue (1) $ 369 365 — — 1,698 1,722 (369 ) (365 ) 1,698 1,722 Transactional revenue 94 83 10 16 390 400 (98 ) (92 ) 396 407 Other revenue 17 17 64 62 160 162 (17 ) (16 ) 224 225 Brokerage advisory, commissions and other fees $ 480 465 74 78 2,248 2,284 (484 ) (473 ) 2,318 2,354 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Asset-based revenue (1) $ 712 736 — — 3,278 3,465 (712 ) (736 ) 3,278 3,465 Transactional revenue 183 176 26 28 777 839 (196 ) (192 ) 790 851 Other revenue 34 31 126 117 317 324 (34 ) (31 ) 443 441 Brokerage advisory, commissions and other fees $ 929 943 152 145 4,372 4,628 (942 ) (959 ) 4,511 4,757 (1) We earned trailing commissions of $289 million and $569 million for the second quarter and first half of 2019 , respectively, and $321 million and $652 million for the second quarter and first half of 2018 , respectively. TRUST AND INVESTMENT MANAGEMENT FEES are earned for providing trust, investment management and other related services. Investment management services include managing and administering assets, including mutual funds, and institutional separate accounts. Fees for these services are generally determined based on a tiered scale relative to the market value of assets under management (AUM). In addition to AUM, we have client assets under administration (AUA) that earn various administrative fees which are generally based on the extent of the services provided to administer the account. Services with AUM and AUA-based fees are generally performed over time. Trust services include acting as a trustee or agent for corporate trust, personal trust, and agency assets. Obligations for trust services are generally satisfied over time, while obligations for activities that are transactional in nature are satisfied at the time of the transaction. Other related services include the custody and safekeeping of accounts. Our obligation for these services is generally satisfied over time. Table 18.4 presents our trust and investment management fees by operating segment. Table 18.4 : Trust and Investment Management Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Investment management fees $ (1 ) — — — 501 531 — — 500 531 Trust fees 200 232 83 82 175 185 (208 ) (226 ) 250 273 Other revenue — (12 ) 34 28 11 15 — — 45 31 Trust and investment management fees $ 199 220 117 110 687 731 (208 ) (226 ) 795 835 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Investment management fees $ — — — — 978 1,065 — — 978 1,065 Trust fees 409 453 165 168 343 373 (422 ) (465 ) 495 529 Other revenue — — 66 55 42 36 — — 108 91 Trust and investment management fees $ 409 453 231 223 1,363 1,474 (422 ) (465 ) 1,581 1,685 INVESTMENT BANKING FEES are earned for underwriting debt and equity securities, arranging loan syndications and performing other advisory services. Our obligation for these services is generally satisfied at closing of the transaction. Substantially all of these fees are in the Wholesale Banking operating segment. CARD FEES include credit and debit card interchange and network revenues and various card-related fees. Credit and debit card interchange and network revenues are earned on credit and debit card transactions conducted through payment networks such as Visa, MasterCard, and American Express. Our obligation is satisfied concurrently with the delivery of services on a daily basis . Table 18.5 presents our card fees by operating segment. Table 18.5 : Card Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Credit card interchange and network revenues (1) $ 209 211 95 96 2 2 (1 ) (1 ) 305 308 Debit card interchange and network revenues 546 525 — — — — — — 546 525 Late fees, cash advance fees, balance transfer fees, and annual fees 174 168 — — — — — — 174 168 Card fees (1) $ 929 904 95 96 2 2 (1 ) (1 ) 1,025 1,001 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Credit card interchange and network revenues (1) $ 398 382 181 183 3 3 (2 ) (2 ) 580 566 Debit card interchange and network revenues 1,053 1,004 — — — — — — 1,053 1,004 Late fees, cash advance fees, balance transfer fees, and annual fees 336 339 — — — — — — 336 339 Card fees (1) $ 1,787 1,725 181 183 3 3 (2 ) (2 ) 1,969 1,909 (1) The cost of credit card rewards and rebates of $375 million and $729 million for the second quarter and first half of 2019 , respectively, and $335 million and $678 million for the second quarter and first half of 2018 , respectively, are presented net against the related revenues. CASH NETWORK FEES are earned for processing ATM transactions. Our obligation is completed daily upon settlement of ATM transactions. All of these fees are in the Community Banking operating segment. COMMERCIAL REAL ESTATE BROKERAGE COMMISSIONS are earned for assisting customers in the sale of real estate property. Our obligation is satisfied upon the successful brokering of a transaction. Fees are based on a fixed percentage of the sales price. All of these fees are in the Wholesale Banking operating segment. WIRE TRANSFER AND OTHER REMITTANCE FEES consist of fees earned for funds transfer services and issuing cashier’s checks and money orders. Our obligation is satisfied at the time of the funds transfer services or upon issuance of the cashier’s check or money order. Substantially all of these fees are in the Community Banking and Wholesale Banking operating segments. ALL OTHER FEES |
Employee Benefits
Employee Benefits | 6 Months Ended |
Jun. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Employee Benefits | Note 19: Employee Benefits We sponsor a frozen noncontributory qualified defined benefit retirement plan, the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. The Cash Balance Plan was frozen on July 1, 2009, and no new benefits accrue after that date. For additional information on our pension and postretirement plans, including plan assumptions, investment strategy and asset allocation, projected benefit payments, and valuation methodologies used for assets measured at fair value, see Note 22 (Employee Benefits and Other Expenses) in our 2018 Form 10-K. Table 19.1 presents the components of net periodic benefit cost. Table 19.1: Net Periodic Benefit Cost 2019 2018 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended June 30, Service cost $ 3 — — 2 — — Interest cost (1) 104 5 6 98 6 5 Expected return on plan assets (1) (142 ) — (7 ) (161 ) — (8 ) Amortization of net actuarial loss (gain) (1) 37 3 (4 ) 33 3 (5 ) Amortization of prior service credit (1) — — (3 ) — — (2 ) Settlement loss (1) — — — — — — Net periodic benefit cost (income) $ 2 8 (8 ) (28 ) 9 (10 ) Six months ended June 30, Service cost $ 6 — — 3 — — Interest cost (1) 209 11 11 196 11 10 Expected return on plan assets (1) (284 ) — (14 ) (321 ) — (15 ) Amortization of net actuarial loss (gain) (1) 74 5 (8 ) 66 6 (9 ) Amortization of prior service credit (1) — — (5 ) — — (5 ) Settlement loss (1) — 2 — — 3 — Net periodic benefit cost (income) $ 5 18 (16 ) (56 ) 20 (19 ) (1) Balances are reported in other noninterest expense on the consolidated statement of income. |
Earnings and Dividends Per Comm
Earnings and Dividends Per Common Share | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings and Dividends Per Common Share | Note 20: Earnings and Dividends Per Common Share Table 20.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 20.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2019 2018 2019 2018 Wells Fargo net income $ 6,206 5,186 $ 12,066 10,322 Less: Preferred stock dividends and other 358 394 711 797 Wells Fargo net income applicable to common stock (numerator) $ 5,848 4,792 $ 11,355 9,525 Earnings per common share Average common shares outstanding (denominator) 4,469.4 4,865.8 4,510.2 4,875.7 Per share $ 1.31 0.98 $ 2.52 1.95 Diluted earnings per common share Average common shares outstanding 4,469.4 4,865.8 4,510.2 4,875.7 Add: Stock options (1) 0.1 8.2 1.4 9.0 Restricted share rights (1) 25.5 20.7 28.5 25.4 Warrants (1) — 5.1 — 6.0 Diluted average common shares outstanding (denominator) 4,495.0 4,899.8 4,540.1 4,916.1 Per share $ 1.30 0.98 $ 2.50 1.94 (1) Calculated using the treasury stock method. Table 20.2 presents the outstanding Series L convertible preferred stock and options to purchase shares of common stock that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 20.2: Outstanding Anti-Dilutive Securities Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Series L Convertible Preferred Stock (1) 25.3 25.3 25.3 25.3 Stock options (2) — — — 0.5 (1) Calculated using the if-converted method. (2) Calculated using the treasury stock method. Table 20.3 presents dividends declared per common share. Table 20.3: Dividends Declared Per Common Share Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 Per common share $ 0.450 0.390 0.900 0.780 |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2019 | |
Cumulative Other Comprehensive Income Balances [Abstract] | |
Other Comprehensive Income | Note 21: Other Comprehensive Income Table 21.1 provides the components of OCI, reclassifications to net income by income statement line item, and the related tax effects. Table 21.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Debt securities: Net unrealized gains (losses) arising during the period $ 1,709 (422 ) 1,287 (617 ) 152 (465 ) 4,540 (1,117 ) 3,423 (4,060 ) 1,000 (3,060 ) Reclassification of net (gains) losses to net income: Interest income on debt securities (1) 61 (15 ) 46 90 (22 ) 68 106 (26 ) 80 159 (39 ) 120 Net gains on debt securities (20 ) 5 (15 ) (41 ) 10 (31 ) (145 ) 36 (109 ) (42 ) 10 (32 ) Other noninterest income (2 ) 1 (1 ) — — — (3 ) 1 (2 ) — — — Subtotal reclassifications to net income 39 (9 ) 30 49 (12 ) 37 (42 ) 11 (31 ) 117 (29 ) 88 Net change 1,748 (431 ) 1,317 (568 ) 140 (428 ) 4,498 (1,106 ) 3,392 (3,943 ) 971 (2,972 ) Derivative and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (2) 56 (14 ) 42 (150 ) 37 (113 ) 30 (7 ) 23 (126 ) 31 (95 ) Cash Flow Hedges: Net unrealized gains (losses) arising during the period on cash flow hedges 1 — 1 — — — (8 ) 2 (6 ) (266 ) 66 (200 ) Reclassification of net losses to net income on cash flow hedges: Interest income on loans 77 (19 ) 58 77 (19 ) 58 155 (38 ) 117 137 (34 ) 103 Interest expense on long-term debt 2 (1 ) 1 — — — 3 (1 ) 2 — — — Subtotal reclassifications to net income 79 (20 ) 59 77 (19 ) 58 158 (39 ) 119 137 (34 ) 103 Net change 136 (34 ) 102 (73 ) 18 (55 ) 180 (44 ) 136 (255 ) 63 (192 ) Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period — — — — — — (4 ) 1 (3 ) 6 (2 ) 4 Reclassification of amounts to non interest expense (3): Amortization of net actuarial loss 36 (9 ) 27 31 (7 ) 24 71 (17 ) 54 63 (15 ) 48 Settlements and other (3 ) 2 (1 ) (2 ) — (2 ) (3 ) 2 (1 ) (2 ) 1 (1 ) Subtotal reclassifications to non interest expense 33 (7 ) 26 29 (7 ) 22 68 (15 ) 53 61 (14 ) 47 Net change 33 (7 ) 26 29 (7 ) 22 64 (14 ) 50 67 (16 ) 51 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period 14 (1 ) 13 (83 ) 3 (80 ) 56 (3 ) 53 (85 ) (2 ) (87 ) Net change 14 (1 ) 13 (83 ) 3 (80 ) 56 (3 ) 53 (85 ) (2 ) (87 ) Other comprehensive income (loss) $ 1,931 (473 ) 1,458 (695 ) 154 (541 ) 4,798 (1,167 ) 3,631 (4,216 ) 1,016 (3,200 ) Less: Other comprehensive loss from noncontrolling interests, net of tax — (1 ) — (1 ) Wells Fargo other comprehensive income (loss), net of tax $ 1,458 (540 ) 3,631 (3,199 ) (1) Represents net unrealized gains and losses amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio. (2) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of effectiveness recorded in other comprehensive income. (3) These items are included in the computation of net periodic benefit cost (see Note 19 (Employee Benefits) for more information). Table 21.2: Cumulative OCI Balances (in millions) Debt securities Derivative and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended June 30, 2019 Balance, beginning of period $ (566 ) (651 ) (2,272 ) (193 ) (3,682 ) Net unrealized gains arising during the period 1,287 43 — 13 1,343 Amounts reclassified from accumulated other comprehensive income 30 59 26 — 115 Net change 1,317 102 26 13 1,458 Less: Other comprehensive income from noncontrolling interests — — — — — Balance, end of period $ 751 (549 ) (2,246 ) (180 ) (2,224 ) Quarter ended June 30, 2018 Balance, beginning of period $ (2,491 ) (555 ) (1,779 ) (96 ) (4,921 ) Net unrealized losses arising during the period (465 ) (113 ) — (80 ) (658 ) Amounts reclassified from accumulated other comprehensive income 37 58 22 — 117 Net change (428 ) (55 ) 22 (80 ) (541 ) Less: Other comprehensive loss from noncontrolling interests — — — (1 ) (1 ) Balance, end of period $ (2,919 ) (610 ) (1,757 ) (175 ) (5,461 ) Six months ended June 30, 2019 Balance, beginning of period $ (3,122 ) (685 ) (2,296 ) (233 ) (6,336 ) Transition adjustment (1) 481 — — — 481 Balance, January 1, 2019 (2,641 ) (685 ) (2,296 ) (233 ) (5,855 ) Net unrealized gains (losses) arising during the period 3,423 17 (3 ) 53 3,490 Amounts reclassified from accumulated other comprehensive income (31 ) 119 53 — 141 Net change 3,392 136 50 53 3,631 Less: Other comprehensive income from noncontrolling interests — — — — — Balance, end of period $ 751 (549 ) (2,246 ) (180 ) (2,224 ) Six months ended June 30, 2018 Balance, beginning of period $ 171 (418 ) (1,808 ) (89 ) (2,144 ) Transition adjustment (2) (118 ) — — — (118 ) Balance, January 1, 2018 53 (418 ) (1,808 ) (89 ) (2,262 ) Net unrealized gains (losses) arising during the period (3,060 ) (295 ) 4 (87 ) (3,438 ) Amounts reclassified from accumulated other comprehensive income 88 103 47 — 238 Net change (2,972 ) (192 ) 51 (87 ) (3,200 ) Less: Other comprehensive loss from noncontrolling interests — — — (1 ) (1 ) Balance, end of period $ (2,919 ) (610 ) (1,757 ) (175 ) (5,461 ) (1) The transition adjustment relates to the adoption of ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . See Note 1 (Summary of Significant Accounting Policies) for more information. (2) The transition adjustment relates to the adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . See Note 1 (Summary of Significant Accounting Policies) for more information. |
Regulatory and Agency Capital R
Regulatory and Agency Capital Requirements | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory and Agency Capital Requirements | Note 23: Regulatory and Agency Capital Requirements The Company and each of its subsidiary banks are subject to regulatory capital adequacy requirements promulgated by federal bank regulatory agencies. The Federal Reserve establishes capital requirements for the consolidated financial holding company, and the OCC has similar requirements for the Company’s national banks, including Wells Fargo Bank, N.A. (the Bank). Table 23.1 presents regulatory capital information for Wells Fargo & Company and the Bank using Basel III, which increased minimum required capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. We must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach in the assessment of our capital adequacy. The Standardized Approach applies assigned risk weights to broad risk categories, while the calculation of risk-weighted assets (RWAs) under the Advanced Approach differs by requiring applicable banks to utilize a risk-sensitive methodology, which relies upon the use of internal credit models, and includes an operational risk component. The Basel III capital rules are being phased-in effective January 1, 2014, through the end of 2021. Beginning January 1, 2018, the requirements for calculating CET1 and tier 1 capital, along with RWAs, became fully phased-in. Accordingly, the information presented reflects fully phased-in CET1 capital, tier 1 capital, and RWAs, but reflects total capital still in accordance with Transition Requirements . The Bank is an approved seller/servicer of mortgage loans and is required to maintain minimum levels of shareholders’ equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At June 30, 2019 , the Bank met these requirements. Other subsidiaries, including the Company’s insurance and broker-dealer subsidiaries, are also subject to various minimum capital levels, as defined by applicable industry regulations. The minimum capital levels for these subsidiaries, and related restrictions, are not significant to our consolidated operations. Table 23.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 149,183 149,183 146,363 146,363 146,505 146,505 142,685 142,685 Tier 1 170,675 170,675 167,866 167,866 146,505 146,505 142,685 142,685 Total 200,810 208,817 198,798 207,041 159,090 166,648 155,558 163,380 Assets: Risk-weighted assets $ 1,182,838 1,246,683 1,177,350 1,247,210 1,059,642 1,144,959 1,058,653 1,154,182 Adjusted average assets (1) 1,871,806 1,871,806 1,850,299 1,850,299 1,654,994 1,654,994 1,652,009 1,652,009 Regulatory capital ratios: Common equity tier 1 capital 12.61 % 11.97 * 12.43 11.74 * 13.83 12.80 * 13.48 12.36 * Tier 1 capital 14.43 13.69 * 14.26 13.46 * 13.83 12.80 * 13.48 12.36 * Total capital 16.98 16.75 * 16.89 16.60 * 15.01 14.56 * 14.69 14.16 * Tier 1 leverage (1) 9.12 9.12 9.07 9.07 8.85 8.85 8.64 8.64 Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Supplementary leverage: (2) Total leverage exposure $ 2,202,607 2,174,564 1,964,107 1,957,276 Supplementary leverage ratio 7.75 % 7.72 7.46 7.29 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by total average assets, excluding goodwill and certain other items. (2) The supplementary leverage ratio consists of Tier 1 capital divided by total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures. Table 23.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of June 30, 2019 , and December 31, 2018 . Table 23.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Regulatory capital ratios: Common equity tier 1 capital 9.000 % 7.875 7.000 6.375 Tier 1 capital 10.500 9.375 8.500 7.875 Total capital 12.500 11.375 10.500 9.875 Tier 1 leverage 4.000 4.000 4.000 4.000 Supplementary leverage 5.000 5.000 6.000 6.000 (1) At June 30, 2019 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 2.500% and a global systemically important bank (G-SIB) surcharge of 2.000% . Only the 2.500% capital conservation buffer applies to the Bank at June 30, 2019 |
Operating Segments
Operating Segments | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Operating Segments | Note 22: Operating Segments We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM). We define our operating segments by product type and customer segment and their results are based on our management accounting process, for which there is no comprehensive, authoritative guidance equivalent to GAAP for financial accounting. The management accounting process measures the performance of the operating segments based on our management structure and is not necessarily comparable with similar information for other financial services companies. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. For a description of our operating segments see Note 26 (Operating Segments) in our 2018 Form 10-K. Table 22.1 presents our results by operating segment. Table 22.1: Operating Segments Community Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Quarter ended June 30, Net interest income (2) $ 7,066 7,346 4,535 4,693 1,037 1,111 (543 ) (609 ) 12,095 12,541 Provision (reversal of provision) for credit losses 479 484 28 (36 ) (1 ) (2 ) (3 ) 6 503 452 Noninterest income 4,739 4,460 2,530 2,504 3,013 2,840 (793 ) (792 ) 9,489 9,012 Noninterest expense 7,212 7,290 3,882 4,219 3,246 3,361 (891 ) (888 ) 13,449 13,982 Income (loss) before income tax expense (benefit) 4,114 4,032 3,155 3,014 805 592 (442 ) (519 ) 7,632 7,119 Income tax expense (benefit) 838 1,413 365 379 201 147 (110 ) (129 ) 1,294 1,810 Net income (loss) before noncontrolling interests 3,276 2,619 2,790 2,635 604 445 (332 ) (390 ) 6,338 5,309 Less: Net income from noncontrolling interests 129 123 1 — 2 — — — 132 123 Net income (loss) (3) $ 3,147 2,496 2,789 2,635 602 445 (332 ) (390 ) 6,206 5,186 Average loans $ 457.7 463.8 474.0 464.7 75.0 74.7 (59.2 ) (59.1 ) 947.5 944.1 Average assets 1,024.8 1,034.3 852.2 826.4 83.8 84.0 (60.2 ) (59.8 ) 1,900.6 1,884.9 Average deposits 777.6 760.6 410.4 414.0 143.5 167.1 (62.5 ) (70.4 ) 1,269.0 1,271.3 Six months ended June 30, Net interest income (2) $ 14,314 14,541 9,069 9,225 2,138 2,223 (1,115 ) (1,210 ) 24,406 24,779 Provision (reversal of provision) for credit losses 1,189 702 162 (56 ) 3 (8 ) (6 ) 5 1,348 643 Noninterest income 9,241 9,095 5,107 5,251 5,991 5,970 (1,552 ) (1,608 ) 18,787 18,708 Noninterest expense 14,901 15,992 7,720 8,197 6,549 6,651 (1,805 ) (1,816 ) 27,365 29,024 Income (loss) before income tax expense (benefit) 7,465 6,942 6,294 6,335 1,577 1,550 (856 ) (1,007 ) 14,480 13,820 Income tax expense (benefit) 1,262 2,222 734 827 393 386 (214 ) (251 ) 2,175 3,184 Net income (loss) before noncontrolling interests 6,203 4,720 5,560 5,508 1,184 1,164 (642 ) (756 ) 12,305 10,636 Less: Net income (loss) from noncontrolling interests 233 311 1 (2 ) 5 5 — — 239 314 Net income (loss) (3) $ 5,970 4,409 5,559 5,510 1,179 1,159 (642 ) (756 ) 12,066 10,322 Average loans $ 457.9 467.1 475.2 464.9 74.7 74.3 (59.1 ) (58.8 ) 948.7 947.5 Average assets 1,020.1 1,048.0 848.4 827.8 83.5 84.1 (60.1 ) (59.6 ) 1,891.9 1,900.3 Average deposits 771.6 754.1 410.1 429.9 148.3 172.5 (64.5 ) (72.3 ) 1,265.5 1,284.2 (1) Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. (2) Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments. (3) Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Significant Accounting Policies [Line Items] | |
Business Description and Basis of Presentation | Wells Fargo & Company is a diversified financial services company. We provide banking, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance through banking locations, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in foreign countries. When we refer to “Wells Fargo,” “the Company,” “we,” “our” or “us,” we mean Wells Fargo & Company and Subsidiaries (consolidated). Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2018 ( 2018 |
Use of Estimates | To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements, income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including: • allowance for credit losses (Note 6 (Loans and Allowance for Credit Losses)); • valuations of residential mortgage servicing rights (MSRs) (Note 10 (Securitizations and Variable Interest Entities) and Note 11 (Mortgage Banking Activities)); • valuations of financial instruments (Note 15 (Derivatives) and Note 16 (Fair Values of Assets and Liabilities)); • liabilities for contingent litigation losses (Note 14 (Legal Actions)); and • income taxes. Actual results could differ from those estimates. |
Comparability of Prior Year Financial Data | These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2018 Form 10-K. |
Accounting Standards Adopted in 2019 | Accounting Standards Adopted in 2019 In first quarter 2019 , we adopted the following new accounting guidance: • Accounting Standards Update (ASU or Update) 2018-16 – Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes • ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities • ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, including early adoption of ASU 2019-01 – Leases (Topic 842): Codification Improvements |
Lessor, Leases [Policy Text Block] | AS LESSOR We lease equipment to our customers under financing or operating leases. Financing leases are presented in loans and are recorded at the discounted amounts of lease payments receivable plus the estimated residual value of the leased asset. Leveraged leases, which are a form of financing leases, are reduced by related non-recourse debt from third-party investors. Lease payments receivable reflect contractual lease payments adjusted for renewal or termination options that we believe the customer is reasonably certain to exercise. The residual value reflects our best estimate of the expected sales price for the equipment at lease termination based on sales history adjusted for recent trends in the expected exit markets. Many of our leases allow the customer to extend the lease at prevailing market terms or purchase the asset for fair value at lease termination. Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. Our risk to declines in residual values is further mitigated by the diversity of leased assets in our lease portfolio. In addition, we have several channels for re-leasing or marketing those assets. In connection with a lease, we may finance the customer’s purchase of other products or services from the equipment vendor and allocate the contract consideration between the use of the asset and the purchase of those products or services based on information obtained from the vendor. Amounts allocated to financing of vendor products or services are reported in loans as commercial and industrial loans, rather than as lease financing. Our primary income from financing leases is interest income recognized using the effective interest method. Variable lease revenues, such as reimbursement for property taxes associated with the leased asset, are included in lease income within noninterest income. Operating lease assets are presented in other assets, net of accumulated depreciation. Periodic depreciation expense is recorded on a straight-line basis to the estimated residual value over the estimated useful life of the leased asset. On a periodic basis, operating lease assets are reviewed for impairment and impairment loss is recognized if the carrying amount of operating lease assets exceeds fair value and is not recoverable. The carrying amount of leased assets is deemed not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. Depreciation of leased assets and impairment loss are presented in operating leases expense within other noninterest expense. Operating lease rental income for leased assets is recognized in lease income within noninterest income on a straight-line basis over the lease term. For leases of railcars, revenue for maintenance services provided under the lease is recognized in lease income. We elected to exclude from revenues and expenses any sales tax incurred on lease payments which are reimbursed by the lessee. Substantially all of our leased assets are protected against casualty loss through third party insurance. |
Lessee, Leases [Policy Text Block] | AS LESSEE We enter into lease agreements to obtain the right to use assets for our business operations, substantially all of which are real estate. Lease liabilities and ROU assets are recognized when we enter into operating or financing leases and represent our obligations and rights to use these assets over the period of the leases and may be re-measured for certain modifications, resolution of certain contingencies involving variable consideration, or our exercise of options (renewal, extension, or termination) under the lease. Operating lease liabilities include fixed and in-substance fixed payments for the contractual duration of the lease, adjusted for renewals or terminations which were deemed probable of exercise when measured. The lease payments are discounted using a rate determined when the lease is recognized. As we typically do not know the discount rate implicit in the lease, we estimate a discount rate that we believe approximates a collateralized borrowing rate for the estimated duration of the lease. The discount rate is updated when re-measurement events occur. The related operating lease ROU assets may differ from operating lease liabilities due to initial direct costs, deferred or prepaid lease payments and lease incentives. We present operating lease liabilities in accrued expenses and other liabilities and the related operating lease ROU assets in other assets. The amortization of operating lease ROU assets and the accretion of operating lease liabilities are reported together as fixed lease expense and are included in net occupancy expense within noninterest expense. The fixed lease expense is recognized on a straight-line basis over the life of the lease. Some of our operating leases include variable lease payments which are periodic adjustments of our payments for the use of the asset based on changes in factors such as consumer price indices, fair market value, tax rates imposed by taxing authorities, or lessor cost of insurance. To the extent not included in operating lease liabilities and operating lease ROU assets, these variable lease payments are recognized as incurred in net occupancy expense within noninterest expense. For substantially all of our leased assets, we account for consideration paid under the contract for maintenance or other services as lease payments. In addition, for certain asset classes, we have elected to exclude leases with original terms of less than one year from the operating lease ROU assets and lease liabilities. The related short-term lease expense is included in net occupancy expense. Finance lease (formerly capital lease) liabilities are presented in long-term debt and the associated finance ROU assets are presented in premises and equipment. |
Private Share Repurchases | Share Repurchases From time to time we may enter into private forward repurchase contracts, written repurchase plans pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, or a combination of the two to complement our open-market common stock repurchase strategies. The stock repurchase transactions allow us to manage our share repurchases in a manner consistent with our capital plans submitted annually under the Comprehensive Capital Analysis and Review (CCAR) and to provide an economic benefit to the Company. Our payments to the counterparties for the private forward repurchase contracts are recorded in permanent equity in the quarter paid and are not subject to re-measurement. The classification of the up-front payments as permanent equity assures that we have appropriate repurchase timing consistent with our capital plans, which contemplate a fixed dollar amount available per quarter for share repurchases pursuant to the Board of Governors of the Federal Reserve System (FRB) supervisory guidance. In return, the counterparty agrees to deliver a variable number of shares based on a per share discount to the volume-weighted average stock price over the contract period. There are no scenarios where the contracts would not either physically settle in shares or allow us to choose the settlement method. Our total number of outstanding shares of common stock is not reduced until settlement of the private share repurchase contract. We did not enter into any private forward repurchase contracts in second quarter 2019 and we had no unsettled private share repurchase contracts at June 30, 2019 . Under a Rule 10b5-1 repurchase plan, payments and receipt of repurchased shares settle on the same day and the shares repurchased reduce the total number of outstanding shares of common stock upon the settlement of each trade under the plan. |
Subsequent Events | Subsequent Events We have evaluated the effects of events that have occurred subsequent to June 30, 2019 , and, except as disclosed elsewhere in the footnotes, there have been no material events that would require recognition in our second quarter 2019 consolidated financial statements or disclosure in the Notes to the consolidated financial statements. |
Accounting Standards Update 2018-16 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The Update adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the LIBOR to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The Update is applied prospectively for qualifying new or re-designated hedging relationships entered into on or after adoption date. We adopted the guidance in first quarter 2019. The adoption did not have an impact as we did not designate SOFR OIS as a benchmark interest rate in any hedging relationships. |
Accounting Standards Update 2017-08 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2017-08 changes the interest income recognition model for purchased callable debt securities carried at a premium, as the premium will be amortized to the earliest call date rather than to the contractual maturity date. Accounting for purchased callable debt securities held at a discount does not change, as the discount will continue to accrete to the contractual maturity date. The Update impacted our investments in purchased callable debt securities classified as available-for-sale (AFS) and held-to-maturity (HTM), which primarily consist of debt securities of U.S. states and political subdivisions. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment as of January 1, 2019, that decreased total stockholders’ equity by $111 million . Retained earnings was reduced by $592 million which reflects both the incremental premium amortization under the new guidance from the acquisition date of our impacted AFS and HTM debt securities through the date of adoption and the fact that the incremental premium amortization is not deductible for federal income tax purposes. Other comprehensive income (OCI) was increased by $481 million which reflects the corresponding adjustment to the adoption date unrealized gain or loss of impacted AFS debt securities. Going forward, interest income recognized prior to the call date will be reduced because the premium will be amortized over a shorter period. |
Accounting Standards Update 2016-02 [Member] | |
Significant Accounting Policies [Line Items] | |
Accounting Standards Adopted in 2019 | ASU 2016-02 modifies the guidance used by lessors and lessees to account for leasing transactions. For our transition to the new guidance, we elected several available practical expedients, including to not reassess the classification of our existing leases, any initial direct costs associated with our leases, or whether any existing contracts are or contain leases. In addition, we elected not to provide a comparative presentation for 2018 and 2017 financial statements. We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment that increased retained earnings by $100 million related to deferred gains on our prior sale-leaseback transactions. We also recognized operating lease right-of-use (ROU) assets and liabilities, substantially all of which relate to our leasing of real estate as a lessee, of $4.9 billion and $5.6 billion , respectively. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Significant noncash activities are presented in Table 1.1 . Table 1.1: Supplemental Cash Flow Information Six months ended June 30, (in millions) 2019 2018 Trading debt securities retained from securitization of MLHFS $ 19,131 17,674 Transfers from loans to MLHFS 4,419 3,053 Transfers from loans to LHFS 92 2,149 Transfers from available-for-sale debt securities to held-to-maturity debt securities 6,071 10,371 Operating lease ROU assets acquired with operating lease liabilities (1) 5,302 — (1) The six months ended June 30, 2019 , balance includes $4.9 billion from adoption of ASU 2016-02 – Leases (Topic 842) and $402 million attributable to new leases and changes from modified leases. |
Cash, Loan and Dividend Restr_2
Cash, Loan and Dividend Restrictions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract] | |
Nature of Restrictions on Cash Equivalents [Table Text Block] | Table 3.1 provides a summary of restrictions on cash equivalents in addition to the FRB reserve cash balance requirements . Table 3.1: Nature of Restrictions on Cash Equivalents (in millions) Jun 30, Dec 31, Average required reserve balance for FRB (1) $ 11,179 12,428 Reserve balance for non-U.S. central banks 556 517 Segregated for benefit of brokerage customers under federal and other brokerage regulations 956 1,135 Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs 19 147 (1) FRB required reserve balance represents average for the first half of 2019 and for the year ended December 31, 2018 . |
Trading Activities (Tables)
Trading Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Trading Activities [Abstract] | |
Trading Assets and Liabilities | Table 4.1 presents a summary of our trading assets and liabilities measured at fair value through earnings . Table 4.1: Trading Assets and Liabilities Jun 30, Dec 31, (in millions) 2019 2018 Trading assets: Debt securities $ 70,208 69,989 Equity securities 23,327 19,449 Loans held for sale 1,118 1,469 Gross trading derivative assets 34,683 29,216 Netting (1) (22,827 ) (19,807 ) Total trading derivative assets 11,856 9,409 Total trading assets 106,509 100,316 Trading liabilities: Short sale 15,955 19,720 Gross trading derivative liabilities 33,458 28,717 Netting (1) (26,417 ) (21,178 ) Total trading derivative liabilities 7,041 7,539 Total trading liabilities $ 22,996 27,259 (1) Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments. |
Net Interest Income and Net Gains (Losses) on Trading Activities | Table 4.2 provides a summary of the net interest income earned from trading securities, and net gains and losses due to the realized and unrealized gains and losses from trading activities. Net interest income includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased. Table 4.2: Net Interest Income and Net Gains (Losses) on Trading Activities Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Interest income: Debt securities $ 740 689 1,533 1,320 Equity securities 143 128 258 269 Loans held for sale 20 15 43 23 Total interest income 903 832 1,834 1,612 Less: Interest expense 127 144 263 272 Net interest income 776 688 1,571 1,340 Net gains (losses) from trading activities (1): Debt securities 401 (140 ) 1,089 (639 ) Equity securities 1,236 (635 ) 3,303 (1,104 ) Loans held for sale (4 ) 7 10 15 Derivatives (2) (1,404 ) 959 (3,816 ) 2,162 Total net gains from trading activities 229 191 586 434 Total trading-related net interest and noninterest income $ 1,005 879 2,157 1,774 (1) Represents realized gains (losses) and unrealized gains (losses) due to changes in fair value of our trading positions. (2) Excludes economic hedging of mortgage banking and asset/liability management activities, for which hedge results (realized and unrealized) are reported with the respective hedged activities. |
AFS and HTM Debt Securities (Ta
AFS and HTM Debt Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
AFS and HTM Debt Securities [Abstract] | |
AFS and HTM Debt Securities, Amortized Cost and Fair Value, by Category | Table 5.1 provides the amortized cost and fair value by major categories of available-for-sale debt securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for available-for-sale debt securities are reported on an after-tax basis as a component of cumulative OCI. Information on debt securities held for trading is included in Note 4 (Trading Activities). Table 5.1: Amortized Cost and Fair Value (in millions) Amortized Cost Gross unrealized gains Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 15,334 2 (17 ) 15,319 Securities of U.S. states and political subdivisions (1) 44,205 968 (78 ) 45,095 Mortgage-backed securities: Federal agencies 154,549 1,617 (308 ) 155,858 Residential 1,241 23 (1 ) 1,263 Commercial 4,140 45 (5 ) 4,180 Total mortgage-backed securities 159,930 1,685 (314 ) 161,301 Corporate debt securities 6,058 208 (36 ) 6,230 Collateralized loan and other debt obligations (2) 32,944 165 (114 ) 32,995 Other (3) 4,987 70 (14 ) 5,043 Total available-for-sale debt securities 263,458 3,098 (573 ) 265,983 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,766 574 (4 ) 45,336 Securities of U.S. states and political subdivisions 7,948 182 (5 ) 8,125 Federal agency and other mortgage-backed securities (4) 93,105 1,312 (71 ) 94,346 Collateralized loan obligations 57 — — 57 Total held-to-maturity debt securities 145,876 2,068 (80 ) 147,864 Total $ 409,334 5,166 (653 ) 413,847 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ 13,451 3 (106 ) 13,348 Securities of U.S. states and political subdivisions (1) 48,994 716 (446 ) 49,264 Mortgage-backed securities: Federal agencies 155,974 369 (3,140 ) 153,203 Residential 2,638 142 (5 ) 2,775 Commercial 4,207 40 (22 ) 4,225 Total mortgage-backed securities 162,819 551 (3,167 ) 160,203 Corporate debt securities 6,230 131 (90 ) 6,271 Collateralized loan and other debt obligations (2) 35,581 158 (396 ) 35,343 Other (3) 5,396 100 (13 ) 5,483 Total available-for-sale debt securities 272,471 1,659 (4,218 ) 269,912 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies 44,751 4 (415 ) 44,340 Securities of U.S. states and political subdivisions 6,286 30 (116 ) 6,200 Federal agency and other mortgage-backed securities (4) 93,685 112 (2,288 ) 91,509 Collateralized loan obligations 66 — — 66 Total held-to-maturity debt securities 144,788 146 (2,819 ) 142,115 Total $ 417,259 1,805 (7,037 ) 412,027 (1) Includes investments in tax-exempt preferred debt securities issued by investment funds or trusts that predominantly invest in tax-exempt municipal securities. The cost basis and fair value of these types of securities was $5.8 billion each at June 30, 2019 , and $6.3 billion each at December 31, 2018 . (2) Includes collateralized debt obligations (CDOs) with a cost basis and fair value of $521 million and $649 million , respectively, at June 30, 2019 , and $662 million and $800 million , respectively, at December 31, 2018 . (3) Largely includes asset-backed securities collateralized by student loans. (4) Predominantly consists of federal agency mortgage-backed securities at both June 30, 2019 and December 31, 2018 . |
AFS and HTM Debt Securities, Gross Unrealized Losses and Fair Value, Over and Under 12 Months | Table 5.2 shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity debt securities by length of time those individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related other-than-temporary impairment (OTTI) write- downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down. Table 5.2: Gross Unrealized Losses and Fair Value Less than 12 months 12 months or more Total (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (2 ) 5,780 (15 ) 5,511 (17 ) 11,291 Securities of U.S. states and political subdivisions (32 ) 5,003 (46 ) 2,696 (78 ) 7,699 Mortgage-backed securities: Federal agencies (2 ) 1,203 (306 ) 32,179 (308 ) 33,382 Residential (1 ) 180 — — (1 ) 180 Commercial (3 ) 837 (2 ) 89 (5 ) 926 Total mortgage-backed securities (6 ) 2,220 (308 ) 32,268 (314 ) 34,488 Corporate debt securities (11 ) 470 (25 ) 281 (36 ) 751 Collateralized loan and other debt obligations (58 ) 12,847 (56 ) 7,239 (114 ) 20,086 Other (8 ) 1,222 (6 ) 246 (14 ) 1,468 Total available-for-sale debt securities (117 ) 27,542 (456 ) 48,241 (573 ) 75,783 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies — — (4 ) 1,613 (4 ) 1,613 Securities of U.S. states and political subdivisions — — (5 ) 514 (5 ) 514 Federal agency and other mortgage-backed securities (1 ) 15 (70 ) 17,392 (71 ) 17,407 Collateralized loan obligations — — — — — — Total held-to-maturity debt securities (1 ) 15 (79 ) 19,519 (80 ) 19,534 Total $ (118 ) 27,557 (535 ) 67,760 (653 ) 95,317 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (1 ) 498 (105 ) 6,204 (106 ) 6,702 Securities of U.S. states and political subdivisions (73 ) 9,746 (373 ) 9,017 (446 ) 18,763 Mortgage-backed securities: Federal agencies (42 ) 10,979 (3,098 ) 112,252 (3,140 ) 123,231 Residential (3 ) 398 (2 ) 69 (5 ) 467 Commercial (20 ) 1,972 (2 ) 79 (22 ) 2,051 Total mortgage-backed securities (65 ) 13,349 (3,102 ) 112,400 (3,167 ) 125,749 Corporate debt securities (64 ) 1,965 (26 ) 298 (90 ) 2,263 Collateralized loan and other debt obligations (388 ) 28,306 (8 ) 553 (396 ) 28,859 Other (7 ) 819 (6 ) 159 (13 ) 978 Total available-for-sale debt securities (598 ) 54,683 (3,620 ) 128,631 (4,218 ) 183,314 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (3 ) 895 (412 ) 41,083 (415 ) 41,978 Securities of U.S. states and political subdivisions (4 ) 598 (112 ) 3,992 (116 ) 4,590 Federal agency and other mortgage-backed securities (5 ) 4,635 (2,283 ) 77,741 (2,288 ) 82,376 Collateralized loan obligations — — — — — — Total held-to-maturity debt securities (12 ) 6,128 (2,807 ) 122,816 (2,819 ) 128,944 Total $ (610 ) 60,811 (6,427 ) 251,447 (7,037 ) 312,258 |
AFS and HTM Debt Securities, Gross Unrealized Losses and Fair Value, by Investment Grade | Table 5.3 shows the gross unrealized losses and fair value of the available-for-sale and held-to-maturity debt securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors Service (Moody’s). Credit ratings express opinions about the credit quality of a debt security. Debt securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, debt securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade debt securities. We have also included debt securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the debt securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated debt securities categorized as investment grade based on internal credit grades were $9 million and $2.3 billion , respectively, at June 30, 2019 , and $20 million and $5.2 billion , respectively, at December 31, 2018 . If an internal credit grade was not assigned, we categorized the debt security as non-investment grade. Table 5.3: Gross Unrealized Losses and Fair Value by Investment Grade Investment grade Non-investment grade (in millions) Gross unrealized losses Fair value Gross unrealized losses Fair value June 30, 2019 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (17 ) 11,291 — — Securities of U.S. states and political subdivisions (69 ) 7,480 (9 ) 219 Mortgage-backed securities: Federal agencies (308 ) 33,382 — — Residential (1 ) 180 — — Commercial (4 ) 915 (1 ) 11 Total mortgage-backed securities (313 ) 34,477 (1 ) 11 Corporate debt securities (6 ) 299 (30 ) 452 Collateralized loan and other debt obligations (114 ) 20,086 — — Other (8 ) 1,120 (6 ) 348 Total available-for-sale debt securities (527 ) 74,753 (46 ) 1,030 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (4 ) 1,613 — — Securities of U.S. states and political subdivisions (5 ) 514 — — Federal agency and other mortgage-backed securities (70 ) 17,374 (1 ) 33 Collateralized loan obligations — — — — Total held-to-maturity debt securities (79 ) 19,501 (1 ) 33 Total $ (606 ) 94,254 (47 ) 1,063 December 31, 2018 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies $ (106 ) 6,702 — — Securities of U.S. states and political subdivisions (425 ) 18,447 (21 ) 316 Mortgage-backed securities: Federal agencies (3,140 ) 123,231 — — Residential (2 ) 295 (3 ) 172 Commercial (20 ) 1,999 (2 ) 52 Total mortgage-backed securities (3,162 ) 125,525 (5 ) 224 Corporate debt securities (17 ) 791 (73 ) 1,472 Collateralized loan and other debt obligations (396 ) 28,859 — — Other (7 ) 726 (6 ) 252 Total available-for-sale debt securities (4,113 ) 181,050 (105 ) 2,264 Held-to-maturity debt securities: Securities of U.S. Treasury and federal agencies (415 ) 41,978 — — Securities of U.S. states and political subdivisions (116 ) 4,590 — — Federal agency and other mortgage-backed securities (2,278 ) 81,977 (10 ) 399 Collateralized loan obligations — — — — Total held-to-maturity debt securities (2,809 ) 128,545 (10 ) 399 Total $ (6,922 ) 309,595 (115 ) 2,663 |
AFS and HTM Debt Securities Contractual Maturities | Table 5.4 shows the fair value and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities by contractual maturity. The remaining contractual principal maturities for mortgage-backed securities (MBS) do not consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. Table 5.4: Available-for Sale Debt Securities - Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield June 30, 2019 Available-for-sale debt securities (1): Fair value: Securities of U.S. Treasury and federal agencies $ 15,319 1.94 % $ 5,521 1.69 % $ 9,747 2.08 % $ 51 1.89 % $ — — % Securities of U.S. states and political subdivisions 45,095 4.92 2,016 3.34 5,135 3.34 4,322 3.54 33,622 5.40 Mortgage-backed securities: Federal agencies 155,858 3.50 — — 137 3.48 1,665 2.56 154,056 3.51 Residential 1,263 2.80 — — — — — — 1,263 2.80 Commercial 4,180 3.71 — — — — 342 3.61 3,838 3.72 Total mortgage-backed securities 161,301 3.50 — — 137 3.48 2,007 2.74 159,157 3.51 Corporate debt securities 6,230 5.01 484 6.17 2,384 5.00 2,737 4.69 625 5.59 Collateralized loan and other debt obligations 32,995 3.96 — — 8 5.02 10,005 4.03 22,982 3.93 Other 5,043 3.10 12 3.34 749 3.80 1,424 2.13 2,858 3.40 Total available-for-sale debt securities at fair value $ 265,983 3.73 % $ 8,033 2.38 % $ 18,160 2.96 % $ 20,546 3.75 % $ 219,244 3.85 % (1) Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives. Table 5.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity. Table 5.5: Held-to-Maturity Debt Securities - Amortized Cost by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Yield Amount Yield Amount Yield Amount Yield Amount Yield June 30, 2019 Held-to-maturity debt securities (1): Amortized cost: Securities of U.S. Treasury and federal agencies $ 44,766 2.12 % $ — — % $ 34,667 2.07 % $ 10,099 2.28 % $ — — % Securities of U.S. states and political subdivisions 7,948 4.97 — — 75 6.05 1,570 4.89 6,303 4.98 Federal agency and other mortgage-backed securities 93,105 3.12 — — 15 3.77 — — 93,090 3.12 Collateralized loan obligations 57 3.78 — — — — 57 3.78 — — Total held-to-maturity debt securities at amortized cost $ 145,876 2.91 % $ — — % $ 34,757 2.08 % $ 11,726 2.64 % $ 99,393 3.24 % (1) Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates. Table 5.6 shows the fair value of held-to-maturity debt securities by contractual maturity. Table 5.6: Held-to-Maturity Debt Securities - Fair Value by Contractual Maturity Remaining contractual maturity Total Within one year After one year through five years After five years through ten years After ten years (in millions) amount Amount Amount Amount Amount June 30, 2019 Held-to-maturity debt securities: Fair value: Securities of U.S. Treasury and federal agencies $ 45,336 — 34,962 10,374 — Securities of U.S. states and political subdivisions 8,125 — 75 1,625 6,425 Federal agency and other mortgage-backed securities 94,346 — 15 — 94,331 Collateralized loan obligations 57 — — 57 — Total held-to-maturity debt securities at fair value $ 147,864 — 35,052 12,056 100,756 |
AFS and HTM Debt Securities, Realized Gains and Losses | Table 5.7 shows the gross realized gains and losses on sales and OTTI write-downs related to available-for-sale debt securities. Table 5.7: Realized Gains and Losses Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Gross realized gains $ 29 53 202 74 Gross realized losses (2 ) (4 ) (5 ) (14 ) OTTI write-downs (7 ) (8 ) (52 ) (18 ) Net realized gains from available-for-sale debt securities $ 20 41 145 42 |
AFS and HTM Debt Securities, Other Than Temporary Impairment Included in Earnings | Table 5.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities. There were no OTTI write-downs on held-to-maturity debt securities during the first half of 2019 and 2018 . Table 5.8: Detail of OTTI Write-downs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Debt securities OTTI write-downs included in earnings: Securities of U.S. states and political subdivisions $ 4 — 33 2 Mortgage-backed securities: Residential — 1 — 2 Commercial 3 7 17 14 Corporate debt securities — — 2 — Total debt securities OTTI write-downs included in earnings $ 7 8 52 18 |
AFS and HTM Debt Securities Other Than Temporary Impairment Included in Earnings and the Related Changes in OCI | Table 5.9 shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities. Table 5.9: OTTI Write-downs Included in Earnings and the Related Changes in OCI Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 OTTI on debt securities Recorded as part of gross realized losses: Credit-related OTTI $ 7 8 23 17 Intent-to-sell OTTI — — 29 1 Total recorded as part of gross realized losses 7 8 52 18 Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1): Securities of U.S. states and political subdivisions (1 ) — (1 ) (2 ) Residential mortgage-backed securities — — (1 ) (1 ) Commercial mortgage-backed securities — (11 ) 1 (1 ) Total changes to OCI for non-credit-related OTTI (1 ) (11 ) (1 ) (4 ) Total OTTI losses recorded on debt securities $ 6 (3 ) 51 14 (1) Represents amounts recorded to OCI for impairment of debt securities, due to factors other than credit, that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of debt securities due to non-credit factors. |
Rollforward of Credit Loss Component Of Credit-Impaired AFS and HTM Debt Securities | Table 5.10 presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as “credit-impaired” debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss. Table 5.10: Rollforward of OTTI Credit Loss Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Credit loss recognized, beginning of period $ 232 649 562 742 Additions: For securities with initial credit impairments 4 — 6 — For securities with previous credit impairments 3 8 17 17 Total additions 7 8 23 17 Reductions: For securities sold, matured, or intended/required to be sold (23 ) (30 ) (369 ) (131 ) For recoveries of previous credit impairments (1) — (1 ) — (2 ) Total reductions (23 ) (31 ) (369 ) (133 ) Credit loss recognized, end of period $ 216 626 216 626 (1) Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method. |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Credit Losses, Loans Outstanding | Table 6.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include unearned income, net deferred loan fees or costs, and unamortized discounts and premiums. These amounts were less than 1% of our total loans outstanding at June 30, 2019 and December 31, 2018 . Table 6.1: Loans Outstanding (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 348,846 350,199 Real estate mortgage 123,008 121,014 Real estate construction 21,067 22,496 Lease financing 19,324 19,696 Total commercial 512,245 513,405 Consumer: Real estate 1-4 family first mortgage 286,427 285,065 Real estate 1-4 family junior lien mortgage 32,068 34,398 Credit card 38,820 39,025 Automobile 45,664 45,069 Other revolving credit and installment 34,654 36,148 Total consumer 437,633 439,705 Total loans $ 949,878 953,110 Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. Table 6.2 presents total commercial foreign loans outstanding by class of financing receivable. Table 6.2: Commercial Foreign Loans Outstanding (in millions) Jun 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 63,296 62,564 Real estate mortgage 6,801 6,731 Real estate construction 1,287 1,011 Lease financing 1,215 1,159 Total commercial foreign loans $ 72,599 71,465 |
Loans and Allowance for Credit Losses, Significant Activity | Table 6.3 summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity also includes participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI loans, loans for which we have elected the fair value option, and government insured/ guaranteed real estate 1-4 family first mortgage loans because their loan activity normally does not impact the allowance for credit losses. Table 6.3: Loan Purchases, Sales, and Transfers 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Purchases $ 670 5 675 398 7 405 Sales (535 ) (153 ) (688 ) (294 ) (88 ) (382 ) Transfers (to) from MLHFS/LHFS (89 ) (1,852 ) (1,941 ) (100 ) (72 ) (172 ) Six months ended June 30, Purchases $ 999 8 1,007 654 7 661 Sales (956 ) (332 ) (1,288 ) (754 ) (88 ) (842 ) Transfers (to) from MLHFS/LHFS (92 ) (1,852 ) (1,944 ) (520 ) (1,625 ) (2,145 ) |
Loans and Allowance for Credit Losses, Commitments to Lend | The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in Table 6.4 . The table excludes the issued standby and commercial letters of credit and temporary advance arrangements described above. Table 6.4: Unfunded Credit Commitments (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 329,751 330,492 Real estate mortgage 7,905 6,984 Real estate construction 15,459 16,400 Total commercial 353,115 353,876 Consumer: Real estate 1-4 family first mortgage 43,427 29,736 Real estate 1-4 family junior lien mortgage 37,454 37,719 Credit card 113,306 109,840 Other revolving credit and installment 26,676 27,530 Total consumer 220,863 204,825 Total unfunded credit commitments $ 573,978 558,701 |
Loans and Allowance for Credit Losses, Allowance for Credit Losses | Table 6.5 presents the allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. Table 6.5: Allowance for Credit Losses Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Balance, beginning of period $ 10,821 11,313 10,707 11,960 Provision for credit losses 503 452 1,348 643 Interest income on certain impaired loans (1) (39 ) (43 ) (78 ) (86 ) Loan charge-offs: Commercial: Commercial and industrial (205 ) (134 ) (381 ) (298 ) Real estate mortgage (14 ) (19 ) (26 ) (21 ) Real estate construction — — (1 ) — Lease financing (12 ) (20 ) (23 ) (37 ) Total commercial (231 ) (173 ) (431 ) (356 ) Consumer: Real estate 1-4 family first mortgage (27 ) (55 ) (70 ) (96 ) Real estate 1-4 family junior lien mortgage (29 ) (47 ) (63 ) (94 ) Credit card (437 ) (404 ) (874 ) (809 ) Automobile (142 ) (216 ) (329 ) (516 ) Other revolving credit and installment (167 ) (164 ) (329 ) (344 ) Total consumer (802 ) (886 ) (1,665 ) (1,859 ) Total loan charge-offs (1,033 ) (1,059 ) (2,096 ) (2,215 ) Loan recoveries: Commercial: Commercial and industrial 46 76 89 155 Real estate mortgage 10 19 16 36 Real estate construction 2 6 5 10 Lease financing 8 5 11 10 Total commercial 66 106 121 211 Consumer: Real estate 1-4 family first mortgage 57 78 112 137 Real estate 1-4 family junior lien mortgage 48 60 91 115 Credit card 88 81 173 154 Automobile 90 103 186 195 Other revolving credit and installment 31 29 65 60 Total consumer 314 351 627 661 Total loan recoveries 380 457 748 872 Net loan charge-offs (653 ) (602 ) (1,348 ) (1,343 ) Other (29 ) (10 ) (26 ) (64 ) Balance, end of period $ 10,603 11,110 10,603 11,110 Components: Allowance for loan losses $ 9,692 10,193 9,692 10,193 Allowance for unfunded credit commitments 911 917 911 917 Allowance for credit losses $ 10,603 11,110 10,603 11,110 Net loan charge-offs (annualized) as a percentage of average total loans 0.28 % 0.26 0.29 0.29 Allowance for loan losses as a percentage of total loans 1.02 1.08 1.02 1.08 Allowance for credit losses as a percentage of total loans 1.12 1.18 1.12 1.18 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize changes in allowance attributable to the passage of time as interest income. |
Loans and Allowance for Credit Losses, Allowance Activity by Portfolio Segment | Table 6.6 summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. Table 6.6: Allowance Activity by Portfolio Segment 2019 2018 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended June 30, Balance, beginning of period $ 6,428 4,393 10,821 6,708 4,605 11,313 Provision for credit losses 46 457 503 89 363 452 Interest income on certain impaired loans (14 ) (25 ) (39 ) (14 ) (29 ) (43 ) Loan charge-offs (231 ) (802 ) (1,033 ) (173 ) (886 ) (1,059 ) Loan recoveries 66 314 380 106 351 457 Net loan charge-offs (165 ) (488 ) (653 ) (67 ) (535 ) (602 ) Other 3 (32 ) (29 ) (5 ) (5 ) (10 ) Balance, end of period $ 6,298 4,305 10,603 6,711 4,399 11,110 Six months ended June 30, Balance, beginning of period $ 6,417 4,290 10,707 6,632 5,328 11,960 Provision for credit losses 210 1,138 1,348 258 385 643 Interest income on certain impaired loans (25 ) (53 ) (78 ) (25 ) (61 ) (86 ) Loan charge-offs (431 ) (1,665 ) (2,096 ) (356 ) (1,859 ) (2,215 ) Loan recoveries 121 627 748 211 661 872 Net loan charge-offs (310 ) (1,038 ) (1,348 ) (145 ) (1,198 ) (1,343 ) Other 6 (32 ) (26 ) (9 ) (55 ) (64 ) Balance, end of period $ 6,298 4,305 10,603 6,711 4,399 11,110 |
Loans and Allowance for Credit Losses, by Impairment Methodology | Table 6.7 disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Table 6.7: Allowance by Impairment Methodology Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total June 30, 2019 Collectively evaluated (1) $ 5,831 3,436 9,267 508,798 425,818 934,616 Individually evaluated (2) 467 869 1,336 3,447 10,641 14,088 PCI (3) — — — — 1,174 1,174 Total $ 6,298 4,305 10,603 512,245 437,633 949,878 December 31, 2018 Collectively evaluated (1) $ 5,903 3,361 9,264 510,180 421,574 931,754 Individually evaluated (2) 514 929 1,443 3,221 13,126 16,347 PCI (3) — — — 4 5,005 5,009 Total $ 6,417 4,290 10,707 513,405 439,705 953,110 (1) Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies , and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables , and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. |
Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator | Table 6.8 provides a breakdown of outstanding commercial loans by risk category. Criticized commercial loans at June 30, 2019 , included $2.5 billion on nonaccrual status that have been written down to net realizable value. For additional information on nonaccrual loans, see Table 6.13. Table 6.8: Commercial Loans by Risk Category (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2019 By risk category: Pass $ 334,034 118,768 20,883 18,225 491,910 Criticized 14,812 4,240 184 1,099 20,335 Total commercial loans (excluding PCI) 348,846 123,008 21,067 19,324 512,245 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 348,846 123,008 21,067 19,324 512,245 December 31, 2018 By risk category: Pass $ 335,412 116,514 22,207 18,671 492,804 Criticized 14,783 4,500 289 1,025 20,597 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 |
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial | Table 6.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices. Table 6.9: Commercial Loans by Delinquency Status (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total June 30, 2019 By delinquency status: Current-29 days past due (DPD) and still accruing $ 346,688 122,101 20,854 19,101 508,744 30-89 DPD and still accruing 507 146 177 160 990 90+ DPD and still accruing 17 24 — — 41 Nonaccrual loans 1,634 737 36 63 2,470 Total commercial loans (excluding PCI) 348,846 123,008 21,067 19,324 512,245 Total commercial PCI loans (carrying value) — — — — — Total commercial loans $ 348,846 123,008 21,067 19,324 512,245 December 31, 2018 By delinquency status: Current-29 DPD and still accruing $ 348,158 120,176 22,411 19,443 510,188 30-89 DPD and still accruing 508 207 53 163 931 90+ DPD and still accruing 43 51 — — 94 Nonaccrual loans 1,486 580 32 90 2,188 Total commercial loans (excluding PCI) 350,195 121,014 22,496 19,696 513,401 Total commercial PCI loans (carrying value) 4 — — — 4 Total commercial loans $ 350,199 121,014 22,496 19,696 513,405 |
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer | Table 6.10 provides the outstanding balances of our consumer portfolio by delinquency status. Table 6.10: Consumer Loans by Delinquency Status (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total June 30, 2019 By delinquency status: Current-29 DPD 271,144 31,374 37,925 44,554 34,383 419,380 30-59 DPD 1,311 250 258 808 97 2,724 60-89 DPD 436 115 188 232 70 1,041 90-119 DPD 196 63 152 69 68 548 120-179 DPD 177 70 297 1 22 567 180+ DPD 630 181 — — 14 825 Government insured/guaranteed loans (1) 11,172 — — — — 11,172 Loans held at fair value 202 — — — — 202 Total consumer loans (excluding PCI) 285,268 32,053 38,820 45,664 34,654 436,459 Total consumer PCI loans (carrying value) (2) 1,159 15 — — — 1,174 Total consumer loans 286,427 32,068 38,820 45,664 34,654 437,633 December 31, 2018 By delinquency status: Current-29 DPD 263,881 33,644 38,008 43,604 35,794 414,931 30-59 DPD 1,411 247 292 1,040 140 3,130 60-89 DPD 549 126 212 314 87 1,288 90-119 DPD 257 74 192 109 80 712 120-179 DPD 225 77 320 2 27 651 180+ DPD 822 213 1 — 20 1,056 Government insured/guaranteed loans (1) 12,688 — — — — 12,688 Loans held at fair value 244 — — — — 244 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $6.5 billion at June 30, 2019 , compared with $7.7 billion at December 31, 2018 . (2) 23% of the adjusted unpaid principal balance for consumer PCI loans are 30+ DPD at June 30, 2019 , compared with 18% at December 31, 2018 . |
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer | Table 6.11 provides a breakdown of our consumer portfolio by FICO. Substantially all of the scored consumer portfolio has an updated FICO of 680 and above, reflecting a strong current borrower credit profile. FICO is not available for certain loan types, or may not be required if we deem it unnecessary due to strong collateral and other borrower attributes. Substantially all loans not requiring a FICO score are securities-based loans originated through retail brokerage, and totaled $8.6 billion at June 30, 2019 , and $8.9 billion at December 31, 2018 . Table 6.11: Consumer Loans by FICO (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total June 30, 2019 By FICO: < 600 3,539 1,297 3,064 6,442 707 15,049 600-639 2,559 897 2,670 4,498 677 11,301 640-679 5,276 1,720 6,313 6,386 1,757 21,452 680-719 12,898 3,620 9,415 7,475 3,283 36,691 720-759 27,807 4,947 8,022 7,051 4,164 51,991 760-799 61,007 6,001 5,323 6,240 4,999 83,570 800+ 157,049 12,346 3,879 7,464 8,011 188,749 No FICO available 3,759 1,225 134 108 2,434 7,660 FICO not required — — — — 8,622 8,622 Government insured/guaranteed loans (1) 11,374 — — — — 11,374 Total consumer loans (excluding PCI) 285,268 32,053 38,820 45,664 34,654 436,459 Total consumer PCI loans (carrying value) (2) 1,159 15 — — — 1,174 Total consumer loans 286,427 32,068 38,820 45,664 34,654 437,633 December 31, 2018 By FICO: < 600 4,273 1,454 3,292 7,071 697 16,787 600-639 2,974 994 2,777 4,431 725 11,901 640-679 5,810 1,898 6,464 6,225 1,822 22,219 680-719 13,568 3,908 9,445 7,354 3,384 37,659 720-759 27,258 5,323 7,949 6,853 4,395 51,778 760-799 57,193 6,315 5,227 5,947 5,322 80,004 800+ 151,465 13,190 3,794 7,099 8,411 183,959 No FICO available 4,604 1,299 77 89 2,507 8,576 FICO not required — — — — 8,885 8,885 Government insured/guaranteed loans (1) 12,932 — — — — 12,932 Total consumer loans (excluding PCI) 280,077 34,381 39,025 45,069 36,148 434,700 Total consumer PCI loans (carrying value) (2) 4,988 17 — — — 5,005 Total consumer loans 285,065 34,398 39,025 45,069 36,148 439,705 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) 44% of the adjusted unpaid principal balance for consumer PCI loans have FICO scores less than 680 and 16% where no FICO is available to us at June 30, 2019 , compared with 45% and 15% , respectively, at December 31, 2018 . |
Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer | Table 6.12 shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV due to industry data availability and portfolios acquired from or serviced by other institutions. Table 6.12: Consumer Loans by LTV/CLTV June 30, 2019 December 31, 2018 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 145,884 15,004 160,888 147,666 15,753 163,419 60.01-80% 110,919 10,452 121,371 104,477 11,183 115,660 80.01-100% 14,763 4,387 19,150 12,372 4,874 17,246 100.01-120% (1) 1,052 1,350 2,402 1,211 1,596 2,807 > 120% (1) 412 480 892 484 578 1,062 No LTV/CLTV available 864 380 1,244 935 397 1,332 Government insured/guaranteed loans (2) 11,374 — 11,374 12,932 — 12,932 Total consumer loans (excluding PCI) 285,268 32,053 317,321 280,077 34,381 314,458 Total consumer PCI loans (carrying value) (3) 1,159 15 1,174 4,988 17 5,005 Total consumer loans $ 286,427 32,068 318,495 285,065 34,398 319,463 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (3) 12% of the adjusted unpaid principal balance for consumer PCI loans have LTV/CLTV amounts greater than 80% at June 30, 2019 , compared with 10% at December 31, 2018 . |
Loans and Allowance for Credit Losses, Nonaccrual Loans | Table 6.13 provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. Table 6.13: Nonaccrual Loans (in millions) Jun 30, Dec 31, Commercial: Commercial and industrial $ 1,634 1,486 Real estate mortgage 737 580 Real estate construction 36 32 Lease financing 63 90 Total commercial 2,470 2,188 Consumer: Real estate 1-4 family first mortgage 2,425 3,183 Real estate 1-4 family junior lien mortgage 868 945 Automobile 115 130 Other revolving credit and installment 44 50 Total consumer 3,452 4,308 Total nonaccrual loans (excluding PCI) $ 5,922 6,496 |
Loans and Allowance for Credit Losses, 90 days or More Past Due and Still Accruing Loans | Table 6.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. Table 6.14: Loans 90 Days or More Past Due and Still Accruing (1) (in millions) Jun 30, 2019 Dec 31, 2018 Total (excluding PCI): $ 7,258 8,704 Less: FHA insured/VA guaranteed (1) 6,478 7,725 Total, not government insured/guaranteed $ 780 979 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 17 43 Real estate mortgage 24 51 Real estate construction — — Total commercial 41 94 Consumer: Real estate 1-4 family first mortgage 108 124 Real estate 1-4 family junior lien mortgage 27 32 Credit card 449 513 Automobile 63 114 Other revolving credit and installment 92 102 Total consumer 739 885 Total, not government insured/guaranteed $ 780 979 (1) Represents loans whose repayments are predominantly |
Loans and Allowance for Credit Losses, Impaired Loans | Table 6.15 summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. Table 6.15 includes trial modifications that totaled $127 million at June 30, 2019 , and $149 million at December 31, 2018 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 6.15: Impaired Loans Summary Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses June 30, 2019 Commercial: Commercial and industrial $ 2,963 2,169 1,991 303 Real estate mortgage 1,297 1,142 1,078 134 Real estate construction 82 54 53 10 Lease financing 91 82 82 20 Total commercial 4,433 3,447 3,204 467 Consumer: Real estate 1-4 family first mortgage (2) 8,803 8,307 3,782 451 Real estate 1-4 family junior lien mortgage 1,781 1,603 1,040 174 Credit card 487 486 486 194 Automobile 144 85 45 9 Other revolving credit and installment 166 160 142 41 Total consumer (3) 11,381 10,641 5,495 869 Total impaired loans (excluding PCI) $ 15,814 14,088 8,699 1,336 December 31, 2018 Commercial: Commercial and industrial $ 3,057 2,030 1,730 319 Real estate mortgage 1,228 1,032 1,009 154 Real estate construction 74 47 46 9 Lease financing 146 112 112 32 Total commercial 4,505 3,221 2,897 514 Consumer: Real estate 1-4 family first mortgage 12,309 10,738 4,420 525 Real estate 1-4 family junior lien mortgage 1,886 1,694 1,133 183 Credit card 449 449 449 172 Automobile 153 89 43 8 Other revolving credit and installment 162 156 136 41 Total consumer (3) 14,959 13,126 6,181 929 Total impaired loans (excluding PCI) $ 19,464 16,347 9,078 1,443 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Impaired loans includes reduction of $1.7 billion reclassified to MLHFS. (3) Includes the recorded investment of $1.2 billion at June 30, 2019 , and $1.3 billion at December 31, 2018, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Impaired loans may also have limited, if any, allowance when the recorded investment of the loan approximates estimated net realizable value as a result of charge-offs prior to a TDR modification. |
Loans and Allowance for Credit Losses, Average Recorded Investment in Impaired Loans | Table 6.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Table 6.16: Average Recorded Investment in Impaired Loans Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 2,285 50 2,212 43 2,249 73 2,318 79 Real estate mortgage 1,116 16 1,299 22 1,079 31 1,266 50 Real estate construction 55 — 62 1 53 2 60 2 Lease financing 88 — 138 1 98 — 132 1 Total commercial 3,544 66 3,711 67 3,479 106 3,776 132 Consumer: Real estate 1-4 family first mortgage 9,398 128 11,772 167 9,950 281 11,921 339 Real estate 1-4 family junior lien mortgage 1,630 26 1,832 29 1,654 52 1,861 58 Credit card 480 16 398 12 470 31 384 22 Automobile 86 3 82 3 87 7 83 6 Other revolving credit and installment 158 3 140 3 157 7 136 5 Total consumer 11,752 176 14,224 214 12,318 378 14,385 430 Total impaired loans (excluding PCI) $ 15,296 242 17,935 281 15,797 484 18,161 562 Interest income: Cash basis of accounting $ 76 84 135 165 Other (1) 166 197 349 397 Total interest income $ 242 281 484 562 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. |
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Modification by Type | Table 6.17 summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that modify more than once, the table reflects each modification that occurred during the period. Loans that both modify and pay off within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Table 6.17: TDR Modifications Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended June 30, 2019 Commercial: Commercial and industrial $ — 34 180 214 26 0.34 % $ 34 Real estate mortgage — 24 95 119 — 0.49 24 Real estate construction 13 — 13 26 — — — Lease financing — — — — — — — Total commercial 13 58 288 359 26 0.40 58 Consumer: Real estate 1-4 family first mortgage 28 2 181 211 — 1.83 19 Real estate 1-4 family junior lien mortgage 1 11 21 33 1 2.39 11 Credit card — 89 — 89 — 13.35 89 Automobile 2 3 14 19 8 4.13 3 Other revolving credit and installment — 12 1 13 — 7.67 12 Trial modifications (6) — — 5 5 — — — Total consumer 31 117 222 370 9 10.06 134 Total $ 44 175 510 729 35 7.17 % $ 192 Quarter ended June 30, 2018 Commercial: Commercial and industrial $ 3 5 449 457 14 0.58 % $ 5 Real estate mortgage — 11 121 132 — 0.67 11 Real estate construction — — 1 1 — — — Lease financing — — — — — — — Total commercial 3 16 571 590 14 0.64 16 Consumer: Real estate 1-4 family first mortgage 64 8 286 358 2 2.26 31 Real estate 1-4 family junior lien mortgage 2 12 30 44 2 1.66 13 Credit card — 83 — 83 — 13.19 83 Automobile 2 4 11 17 5 6.49 4 Other revolving credit and installment — 10 2 12 — 7.95 10 Trial modifications (6) — — 17 17 — — — Total consumer 68 117 346 531 9 9.17 141 Total $ 71 133 917 1,121 23 8.30 % $ 157 Primary modification type (1) Financial effects of modifications (in millions) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Six months ended June 30, 2019 Commercial: Commercial and industrial $ — 45 734 779 39 0.42 % $ 45 Real estate mortgage — 26 168 194 — 0.54 26 Real estate construction 13 — 16 29 — — — Lease financing — — — — — — — Total commercial 13 71 918 1,002 39 0.47 71 Consumer: Real estate 1-4 family first mortgage 63 5 475 543 1 1.89 38 Real estate 1-4 family junior lien mortgage 3 22 46 71 2 2.34 23 Credit card — 186 — 186 — 13.27 186 Automobile 4 4 26 34 14 4.55 4 Other revolving credit and installment — 23 4 27 — 7.63 23 Trial modifications (6) — — 5 5 — — — Total consumer 70 240 556 866 17 10.17 274 Total $ 83 311 1,474 1,868 56 8.18 % $ 345 Six months ended June 30, 2018 Commercial: Commercial and industrial $ 3 14 937 954 20 0.88 % $ 14 Real estate mortgage — 17 219 236 — 0.89 17 Real estate construction — — 4 4 — — — Lease financing — — 39 39 — — — Total commercial 3 31 1,199 1,233 20 0.88 31 Consumer: Real estate 1-4 family first mortgage 110 18 592 720 3 2.33 66 Real estate 1-4 family junior lien mortgage 3 20 58 81 3 1.89 22 Credit card — 169 — 169 — 12.24 169 Automobile 3 8 25 36 14 6.48 8 Other revolving credit and installment — 25 4 29 — 7.95 25 Trial modifications (6) — — 32 32 — — — Total consumer 116 240 711 1,067 20 8.67 290 Total $ 119 271 1,910 2,300 40 7.92 % $ 321 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $323 million and $381 million for the quarters ended June 30, 2019 and 2018, respectively, and $683 million and $884 million for the first half of 2019 and 2018, respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loans discharged in bankruptcy, loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the contractual interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $3 million and $14 million for the quarters ended June 30, 2019 and 2018, and $6 million and $17 million for the first half of 2019 and 2018, respectively. (5) Reflects the effect of reduced interest rates on loans with an interest rate concession as one of its concession types, which includes loans reported as a principal primary modification type that also have an interest rate concession. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period. |
Loans and Allowance for Credit Losses, Troubled Debt Restructuring, Current Defaults | Table 6.18 summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We are reporting these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Table 6.18: Defaulted TDRs Recorded investment of defaults Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Commercial: Commercial and industrial $ 25 7 48 93 Real estate mortgage 5 14 33 40 Real estate construction — 16 3 16 Total commercial 30 37 84 149 Consumer: Real estate 1-4 family first mortgage 13 15 24 33 Real estate 1-4 family junior lien mortgage 4 2 9 7 Credit card 21 24 42 37 Automobile 4 4 7 7 Other revolving credit and installment 1 1 3 2 Total consumer 43 46 85 86 Total $ 73 83 169 235 |
Loans and Allowance for Credit Losses, Purchased Credit Impaired Loans, Loans Outstanding | Table 6.19 presents PCI loans net of any remaining purchase accounting adjustments. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans. Table 6.19: PCI Loans (in millions) Jun 30, Dec 31, Total commercial $ — 4 Consumer: Real estate 1-4 family first mortgage 1,159 4,988 Real estate 1-4 family junior lien mortgage 15 17 Total consumer 1,174 5,005 Total PCI loans (carrying value) $ 1,174 5,009 Total PCI loans (unpaid principal balance) $ 1,952 7,348 |
Leasing Activity (Tables)
Leasing Activity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Lessor Disclosure [Abstract] | |
Leasing Revenue | Table 7.1: Leasing Revenue (in millions) Quarter ended June 30, 2019 Six months ended June 30, 2019 Interest income on lease financing $ 224 447 Other lease revenues: Variable revenues on lease financing 26 50 Fixed revenues on operating leases 357 730 Variable revenues on operating leases 14 32 Other lease-related revenues (1) 27 55 Lease income 424 867 Total leasing revenue $ 648 1,314 (1) Predominantly includes net gains on disposition of assets leased under operating leases or lease financings. |
Investment in Lease Financing | Table 7.2: Investment in Lease Financing (in millions) Jun 30, 2019 Lease receivables $ 17,735 Residual asset values 4,244 Unearned income (2,655 ) Lease financing $ 19,324 |
Maturities of Lease Receivables | Table 7.3 presents future lease payments owed by our lessees. Table 7.3: Maturities of Lease Receivables June 30, 2019 (in millions) Direct financing and sales- type leases Operating leases Remainder of 2019 $ 3,036 535 2020 5,167 880 2021 4,004 591 2022 2,127 407 2023 1,219 269 Thereafter 2,182 605 Total lease receivables $ 17,735 3,287 |
Lessee Disclosure [Abstract] | |
Operating Lease Right of Use (ROU) Assets and Lease Liabilities | Table 7.4 presents balances for our operating leases. Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities (in millions) Jun 30, 2019 ROU assets $ 4,776 Lease liabilities 5,302 |
Lease Costs | Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense. Table 7.5: Lease Costs (in millions) Quarter ended June 30, 2019 Six months ended June 30, 2019 Fixed lease expense - operating leases $ 291 588 Variable lease expense 80 153 Other (1) (9 ) (17 ) Total lease costs $ 362 724 (1) Predominantly includes sublease rental income and gains recognized from sale leaseback transactions. |
Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases | Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases (in millions) December 31, 2018 2019 $ 1,174 2020 1,056 2021 880 2022 713 2023 577 Thereafter 1,654 Total $ 6,054 |
Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases | Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases (in millions, except for weighted averages) June 30, 2019 Remainder of 2019 $ 566 2020 1,127 2021 947 2022 792 2023 654 Thereafter 2,054 Total lease payments 6,140 Less: imputed interest 838 Total operating lease liabilities $ 5,302 Weighted average remaining lease term (in years) 7.3 Weighted average discount rate 3.2 % |
Equity Securities (Tables)
Equity Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity Securities [Abstract] | |
Equity Securities | Table 8.1 provides a summary of our equity securities by business purpose and accounting method, including equity securities with readily determinable fair values (marketable) and those without readily determinable fair values (nonmarketable). Table 8.1: Equity Securities Jun 30, Dec 31, (in millions) 2019 2018 Held for trading at fair value: Marketable equity securities $ 23,327 19,449 Not held for trading: Fair value: Marketable equity securities (1) 5,379 4,513 Nonmarketable equity securities 7,244 5,594 Total equity securities at fair value 12,623 10,107 Equity method: Low-income housing tax credit investments 11,162 10,999 Private equity 3,352 3,832 Tax-advantaged renewable energy 3,051 3,073 New market tax credit and other 294 311 Total equity method 17,859 18,215 Other: Federal Reserve Bank stock and other at cost (2) 5,622 5,643 Private equity (3) 2,106 1,734 Total equity securities not held for trading 38,210 35,699 Total equity securities $ 61,537 55,148 (1) Includes $3.5 billion and $3.2 billion at June 30, 2019 , and December 31, 2018 , respectively, related to securities held as economic hedges of our deferred compensation plan obligations. (2) Includes $5.6 billion and $5.6 billion at June 30, 2019 and December 31, 2018 , respectively, related to investments in Federal Reserve Bank and Federal Home Loan Bank stock. (3) Represents nonmarketable equity securities accounted for under the measurement alternative. |
Net Gains (Losses) from Equity Securities Not Held for Trading | Table 8.2 provides a summary of the net gains and losses from equity securities not held for trading. Gains and losses for securities held for trading are reported in net gains from trading activities. Table 8.2: Net Gains (Losses) from Equity Securities Not Held for Trading Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Net gains (losses) from equity securities carried at fair value: Marketable equity securities $ 264 28 641 36 Nonmarketable equity securities 732 594 1,668 703 Total equity securities carried at fair value 996 622 2,309 739 Net gains (losses) from nonmarketable equity securities not carried at fair value: Impairment write-downs (31 ) (237 ) (67 ) (257 ) Net unrealized gains related to measurement alternative observable transactions 146 35 331 263 Net realized gains on sale 169 399 406 897 All other — 16 — 34 Total nonmarketable equity securities not carried at fair value 284 213 670 937 Net losses from economic hedge derivatives (1) (658 ) (540 ) (1,543 ) (598 ) Total net gains from equity securities $ 622 295 1,436 1,078 (1) Includes net gains (losses) on derivatives not designated as hedging instruments. |
Gains (Losses) from Measurement Alternative Equity Securities | Table 8.3 provides additional information about the impairment write-downs and observable price adjustments related to nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 8.2. Table 8.3: Net Gains (Losses) from Measurement Alternative Equity Securities Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Net gains (losses) recognized in earnings during the period: Gross unrealized gains due to observable price changes $ 157 43 342 271 Gross unrealized losses due to observable price changes (11 ) (8 ) (11 ) (8 ) Impairment write-downs (11 ) (5 ) (33 ) (12 ) Realized net gains from sale 102 16 125 91 Total net gains recognized during the period $ 237 46 423 342 Table 8.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held as of the balance sheet date. Table 8.4: Measurement Alternative Cumulative Gains (Losses) Jun 30, Dec 31, (in millions) 2019 2018 Cumulative gains (losses): Gross unrealized gains due to observable price changes $ 733 415 Gross unrealized losses due to observable price changes (36 ) (25 ) Impairment write-downs (52 ) (33 ) |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other Assets [Abstract] | |
Components of Other Assets | Table 9.1 presents the components of other assets. Table 9.1: Other Assets (in millions) Jun 30, Dec 31, Corporate/bank-owned life insurance $ 19,912 19,751 Accounts receivable (1) 26,213 34,281 Interest receivable 6,177 6,084 Customer relationship and other amortized intangibles 479 545 Foreclosed assets: Residential real estate: Government insured/guaranteed 68 88 Non-government insured/guaranteed 185 229 Other 124 134 Operating lease assets (lessor) 8,663 9,036 Operating lease ROU assets (lessee) (2) 4,776 — Due from customers on acceptances 272 258 Other 9,489 9,444 Total other assets $ 76,358 79,850 (1) Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. For more information, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. (2) We recognized operating lease right of use (ROU) assets effective January 1, 2019, in connection with the adoption of ASU 2016-02 – Leases. For more information, see Note 1 (Summary of Significant Accounting Policies). |
Securitizations and Variable _2
Securitizations and Variable Interest Entities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Securitizations and Variable Interest Entities [Abstract] | |
Balance Sheet Transactions With VIEs | Table 10.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs. Table 10.1: Balance Sheet Transactions with VIEs (in millions) VIEs that we do not consolidate VIEs that we consolidate Transfers that we account for as secured borrowings Total June 30, 2019 Cash and due from banks $ — 11 — 11 Interest-earning deposits with banks — 8 — 8 Debt securities: Trading debt securities 2,072 60 200 2,332 Available-for-sale debt securities (1) 1,879 — 68 1,947 Held-to-maturity debt securities 560 — — 560 Loans 1,214 13,602 87 14,903 Mortgage servicing rights 12,354 — — 12,354 Derivative assets 143 — — 143 Equity securities 11,211 121 — 11,332 Other assets — 208 2 210 Total assets 29,433 14,010 357 43,800 Short-term borrowings — — 263 263 Derivative liabilities 1 1 (2) — 2 Accrued expenses and other liabilities 198 201 (2) 2 401 Long-term debt 3,857 748 (2) 85 4,690 Total liabilities 4,056 950 350 5,356 Noncontrolling interests — 41 — 41 Net assets $ 25,377 13,019 7 38,403 December 31, 2018 Cash and due from banks $ — 139 — 139 Interest-earning deposits with banks — 8 — 8 Debt securities: Trading debt securities 2,110 45 200 2,355 Available-for-sale debt securities (1) 2,686 — 317 3,003 Held-to-maturity debt securities 510 — — 510 Loans 1,433 13,564 94 15,091 Mortgage servicing rights 14,761 — — 14,761 Derivative assets 53 — — 53 Equity securities 11,041 85 — 11,126 Other assets — 221 6 227 Total assets 32,594 14,062 617 47,273 Short-term borrowings — — 493 493 Derivative liabilities 26 — (2) — 26 Accrued expenses and other liabilities 231 191 (2) 8 430 Long-term debt 3,870 816 (2) 93 4,779 Total liabilities 4,127 1,007 594 5,728 Noncontrolling interests — 34 — 34 Net assets $ 28,467 13,021 23 41,511 (1) Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and GNMA. (2) There were no VIE liabilities with recourse to the general credit of Wells Fargo for the periods presented. |
Unconsolidated VIEs | Table 10.2 provides a summary of unconsolidated VIEs with which we have significant continuing involvement, but we are not the primary beneficiary. We do not consider our continuing involvement in an unconsolidated VIE to be significant when it relates to third-party sponsored VIEs for which we were not the transferor (unless we are servicer and have other significant forms of involvement) or if we were the sponsor only or sponsor and servicer but do not have any other forms of significant involvement. Significant continuing involvement includes transactions where we were the sponsor or transferor and have other significant forms of involvement. Sponsorship includes transactions with unconsolidated VIEs where we solely or materially participated in the initial design or structuring of the entity or marketing of the transaction to investors. When we transfer assets to a VIE and account for the transfer as a sale, we are considered the transferor. We consider investments in securities (other than those held temporarily in trading), loans, guarantees, liquidity agreements, written options and servicing of collateral to be other forms of involvement that may be significant. We have excluded certain transactions with unconsolidated VIEs from the balances presented in the following table where we have determined that our continuing involvement is not significant due to the temporary nature and size of our variable interests, because we were not the transferor or because we were not involved in the design of the unconsolidated VIEs. We also exclude from the table secured borrowing transactions with unconsolidated VIEs (for information on these transactions, see the Transactions with Consolidated VIEs and Secured Borrowings section in this Note). Table 10.2: Unconsolidated VIEs Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets June 30, 2019 Residential mortgage loan securitizations: Conforming (2) $ 1,132,124 2,367 11,420 — (136 ) 13,651 Other/nonconforming 9,438 37 57 — — 94 Commercial mortgage securitizations 154,690 2,041 877 85 (42 ) 2,961 Collateralized debt obligations: Debt securities 637 — — 4 (20 ) (16 ) Asset-based finance structures 244 143 — — — 143 Tax credit structures 36,888 12,232 — — (3,857 ) 8,375 Collateralized loan obligations 176 1 — — — 1 Investment funds 210 49 — — — 49 Other (3) 1,508 66 — 53 — 119 Total $ 1,335,915 16,936 12,354 142 (4,055 ) 25,377 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,367 11,420 — 902 14,689 Other/nonconforming 37 57 — — 94 Commercial mortgage securitizations 2,041 877 85 12,007 15,010 Collateralized debt obligations: Debt securities — — 4 20 24 Asset-based finance structures 143 — — 71 214 Tax credit structures 12,232 — — 1,373 13,605 Collateralized loan obligations 1 — — — 1 Investment funds 49 — — — 49 Other (3) 66 — 54 159 279 Total $ 16,936 12,354 143 14,532 43,965 (continued on following page) (continued from previous page) Carrying value – asset (liability) (in millions) Total VIE assets Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Net assets December 31, 2018 Residential mortgage loan securitizations: Conforming (2) $ 1,172,833 2,377 13,811 — (171 ) 16,017 Other/nonconforming 10,596 453 57 — — 510 Commercial mortgage securitizations 153,350 2,409 893 (22 ) (40 ) 3,240 Collateralized debt obligations: Debt securities 659 — — 5 (20 ) (15 ) Asset-based finance structures 304 205 — — — 205 Tax credit structures 35,185 12,087 — — (3,870 ) 8,217 Collateralized loan obligations 2 — — — — — Investment funds 185 42 — — — 42 Other (3) 1,688 207 — 44 — 251 Total $ 1,374,802 17,780 14,761 27 (4,101 ) 28,467 Maximum exposure to loss Debt and equity interests (1) Servicing assets Derivatives Other commitments and guarantees Total exposure Residential mortgage loan securitizations: Conforming $ 2,377 13,811 — 1,183 17,371 Other/nonconforming 453 57 — — 510 Commercial mortgage securitizations 2,409 893 28 11,563 14,893 Collateralized debt obligations: Debt securities — — 5 20 25 Asset-based finance structures 205 — — 71 276 Tax credit structures 12,087 — — 1,420 13,507 Collateralized loan obligations — — — — — Investment funds 42 — — — 42 Other (3) 207 — 45 158 410 Total $ 17,780 14,761 78 14,415 47,034 (1) Includes total equity interests of $11.2 billion and $11.0 billion at June 30, 2019 , and December 31, 2018 , respectively. Also includes debt interests in the form of both loans and securities. Excludes certain debt securities held related to loans serviced for FNMA, FHLMC and GNMA. (2) Excludes assets and related liabilities with a recorded carrying value on our balance sheet of $551 million and $1.2 billion at June 30, 2019 , and December 31, 2018 , respectively, for certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. The recorded carrying value represents the amount that would be payable if the Company was to exercise the repurchase option. The carrying amounts are excluded from the table because the loans eligible for repurchase do not represent interests in the VIEs. (3) Includes structured financing and credit-linked note structures. |
Cash Flows from Sales and Securitization Activity | Table 10.3 presents the cash flows for our transfers accounted for as sales in which we have continuing involvement with the transferred financial assets. Table 10.3: Cash Flows From Sales and Securitization Activity Mortgage loans (in millions) 2019 2018 Quarter ended June 30, Proceeds from securitizations and whole loan sales $ 39,697 51,990 Fees from servicing rights retained 786 830 Cash flows from other interests held (1) 133 168 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 1 1 Agency securitizations (3) 27 19 Servicing advances, net of repayments (54 ) (7 ) Six months ended June 30, Proceeds from securitizations and whole loan sales $ 76,204 102,577 Fees from servicing rights retained 1,566 1,675 Cash flows from other interests held (1) 244 353 Repurchases of assets/loss reimbursements (2): Non-agency securitizations and whole loan transactions 1 2 Agency securitizations (3) 44 52 Servicing advances, net of repayments (93 ) (43 ) (1) Cash flows from other interests held include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. We also received $1 million in both the second quarter and first half of 2018 related to other financial assets. (2) Consists of cash paid to repurchase loans from investors and cash paid to investors to reimburse them for losses on individual loans that are already liquidated. (3) Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Second quarter and first half of 2019 exclude $1.3 billion and $ 3.2 billion , respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $1.8 billion and $4.7 billion , respectively, in the same periods of 2018. These loans are predominantly insured by the FHA or guaranteed by the VA. |
Residential Mortgage Servicing Rights | Table 10.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization. Table 10.4: Residential Mortgage Servicing Rights Residential mortgage servicing rights 2019 2018 Quarter ended June 30, Prepayment speed (1) 13.5 % 10.7 Discount rate 7.5 7.4 Cost to service ($ per loan) (2) $ 121 146 Six months ended June 30, Prepayment speed (1) 13.5 % 10.1 Discount rate 7.7 7.4 Cost to service ($ per loan) (2) $ 109 132 (1) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. (2) Includes costs to service and unreimbursed foreclosure costs, which can vary period to period depending on the mix of modified government-guaranteed loans sold to GNMA. |
Retained Interests from Unconsolidated VIEs | Table 10.5 provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held related to unconsolidated VIEs to immediate adverse changes in those assumptions. “Other interests held” relate to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory. Table 10.5: Retained Interests from Unconsolidated VIEs Other interests held Residential mortgage servicing rights (1) Interest-only strips Commercial ($ in millions, except cost to service amounts) Subordinated bonds Senior bonds Fair value of interests held at June 30, 2019 $ 12,096 14 706 302 Expected weighted-average life (in years) 5.6 3.4 7.2 5.3 Key economic assumptions: Prepayment speed assumption (2) 12.2 % 18.8 Decrease in fair value from: 10% adverse change $ 526 1 25% adverse change 1,239 1 Discount rate assumption 7.4 % 13.9 3.5 2.8 Decrease in fair value from: 100 basis point increase $ 499 — 41 14 200 basis point increase 954 — 79 26 Cost to service assumption ($ per loan) 104 Decrease in fair value from: 10% adverse change 283 25% adverse change 707 Credit loss assumption 4.4 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — Fair value of interests held at December 31, 2018 $ 14,649 16 668 309 Expected weighted-average life (in years) 6.5 3.6 7.0 5.7 Key economic assumptions: Prepayment speed assumption (2) 9.9 % 17.7 Decrease in fair value from: 10% adverse change $ 530 1 25% adverse change 1,301 1 Discount rate assumption 8.1 % 14.5 4.3 3.7 Decrease in fair value from: 100 basis point increase $ 615 — 37 14 200 basis point increase 1,176 1 72 28 Cost to service assumption ($ per loan) 106 Decrease in fair value from: 10% adverse change 316 25% adverse change 787 Credit loss assumption 5.1 % — Decrease in fair value from: 10% higher losses $ 2 — 25% higher losses 5 — (1) See narrative following this table for a discussion of commercial mortgage servicing rights. (2) The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior. |
Off-Balance Sheet Loans Sold Or Securitized | Table 10.6 presents information about the principal balances of off-balance sheet loans that were sold or securitized, including residential mortgage loans sold to FNMA, FHLMC, GNMA and other investors, for which we have some form of continuing involvement (including servicer). Delinquent loans include loans 90 days or more past due and loans in bankruptcy, regardless of delinquency status. For loans sold or securitized where servicing is our only form of continuing involvement, we would only experience a loss if we were required to repurchase a delinquent loan or foreclosed asset due to a breach in representations and warranties associated with our loan sale or servicing contracts. Table 10.6: Off-Balance Sheet Loans Sold or Securitized Net charge-offs Total loans Delinquent loans and foreclosed assets (1) Six months ended Jun 30, (in millions) Jun 30, 2019 Dec 31, 2018 Jun 30, 2019 Dec 31, 2018 2019 2018 Commercial: Real estate mortgage $ 107,239 105,173 955 1,008 89 151 Total commercial 107,239 105,173 955 1,008 89 151 Consumer: Real estate 1-4 family first mortgage 1,045,840 1,097,128 7,650 8,947 110 250 Total consumer 1,045,840 1,097,128 7,650 8,947 110 250 Total off-balance sheet sold or securitized loans (2) $ 1,153,079 1,202,301 8,605 9,955 199 401 (1) Includes $583 million and $675 million of commercial foreclosed assets and $507 million and $582 million of consumer foreclosed assets at June 30, 2019 , and December 31, 2018 , respectively. (2) At June 30, 2019 , and December 31, 2018 , the table includes total loans of $1.1 trillion at both dates, delinquent loans of $5.7 billion and $6.4 billion , and foreclosed assets of $364 million and $442 million , respectively, for FNMA, FHLMC and GNMA. Net charge-offs exclude loans sold to FNMA, FHLMC and GNMA as we do not service or manage the underlying real estate upon foreclosure and, as such, do not have access to net charge-off information. |
Transactions With Consolidated VIEs And Secured Borrowings | Table 10.7 presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. Carrying values of “Assets” are presented using GAAP measurement methods, which may include fair value, credit impairment or other adjustments, and therefore in some instances will differ from “Total VIE assets.” For VIEs that obtain exposure synthetically through derivative instruments, the remaining notional amount of the derivative is included in “Total VIE assets.” On the consolidated balance sheet, we separately disclose the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs. Table 10.7: Transactions with Consolidated VIEs and Secured Borrowings Carrying value (in millions) Total VIE assets Assets Liabilities Noncontrolling interests Net assets June 30, 2019 Secured borrowings: Municipal tender option bond securitizations $ 263 270 (265 ) — 5 Residential mortgage securitizations 87 87 (85 ) — 2 Total secured borrowings 350 357 (350 ) — 7 Consolidated VIEs: Commercial and industrial loans and leases 7,742 7,728 (490 ) (13 ) 7,225 Nonconforming residential mortgage loan securitizations 1,475 1,288 (452 ) — 836 Commercial real estate loans 4,794 4,794 — — 4,794 Investment funds 194 194 (6 ) (24 ) 164 Other 6 6 (2 ) (4 ) — Total consolidated VIEs 14,211 14,010 (950 ) (41 ) 13,019 Total secured borrowings and consolidated VIEs $ 14,561 14,367 (1,300 ) (41 ) 13,026 December 31, 2018 Secured borrowings: Municipal tender option bond securitizations $ 627 523 (501 ) — 22 Residential mortgage securitizations 95 94 (93 ) — 1 Total secured borrowings 722 617 (594 ) — 23 Consolidated VIEs: Commercial and industrial loans and leases 8,215 8,204 (477 ) (14 ) 7,713 Nonconforming residential mortgage loan securitizations 1,947 1,732 (521 ) — 1,211 Commercial real estate loans 3,957 3,957 — — 3,957 Investment funds 155 155 (5 ) (15 ) 135 Other 14 14 (4 ) (5 ) 5 Total consolidated VIEs 14,288 14,062 (1,007 ) (34 ) 13,021 Total secured borrowings and consolidated VIEs $ 15,010 14,679 (1,601 ) (34 ) 13,044 |
Mortgage Banking Activities (Ta
Mortgage Banking Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Banking Activities [Abstract] | |
Analysis of Changes in Fair Value MSRs | Table 11.1 presents the changes in MSRs measured using the fair value method. Table 11.1: Analysis of Changes in Fair Value MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Fair value, beginning of period $ 13,336 15,041 14,649 13,625 Servicing from securitizations or asset transfers (1) 400 486 741 1,059 Sales and other (2) (1 ) (1 ) (282 ) (5 ) Net additions 399 485 459 1,054 Changes in fair value: Due to changes in valuation model inputs or assumptions: Mortgage interest rates (3) (1,153 ) 376 (2,093 ) 1,629 Servicing and foreclosure costs (4) (22 ) 30 (10 ) 64 Discount rates (5) (109 ) — (9 ) — Prepayment estimates and other (6) 206 (61 ) 143 (18 ) Net changes in valuation model inputs or assumptions (1,078 ) 345 (1,969 ) 1,675 Changes due to collection/realization of expected cash flows over time (561 ) (460 ) (1,043 ) (943 ) Total changes in fair value (1,639 ) (115 ) (3,012 ) 732 Fair value, end of period $ 12,096 15,411 12,096 15,411 (1) Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. Total reported MSRs may increase upon repurchase due to servicing liabilities associated with these loans. (2) Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios or portfolios with servicing liabilities. (3) Includes prepayment speed changes as well as other valuation changes due to changes in mortgage interest rates (such as changes in estimated interest earned on custodial deposit balances). (4) Includes costs to service and unreimbursed foreclosure costs. (5) Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates. (6) Represents changes driven by other valuation model inputs or assumptions including prepayment speed estimation changes and other assumption updates. Prepayment speed estimation changes are influenced by observed changes in borrower behavior and other external factors that occur independent of interest rate changes. |
Analysis of Changes in Amortized MSRs | Table 11.2 presents the changes in amortized MSRs. Table 11.2: Analysis of Changes in Amortized MSRs Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Balance, beginning of period $ 1,427 1,411 1,443 1,424 Purchases 16 22 40 40 Servicing from securitizations or asset transfers 33 39 59 73 Amortization (69 ) (65 ) (135 ) (130 ) Balance, end of period (1) $ 1,407 1,407 1,407 1,407 Fair value of amortized MSRs: Beginning of period $ 2,149 2,307 2,288 2,025 End of period 1,897 2,309 1,897 2,309 (1) Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) for multi-family properties and non-agency. There was no valuation allowance recorded for the periods presented on the commercial amortized MSRs. |
Managed Servicing Portfolio | We present the components of our managed servicing portfolio in Table 11.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. Table 11.3: Managed Servicing Portfolio (in billions) Jun 30, 2019 Dec 31, 2018 Residential mortgage servicing: Serviced for others $ 1,107 1,164 Owned loans serviced 340 334 Subserviced for others 5 4 Total residential servicing 1,452 1,502 Commercial mortgage servicing: Serviced for others 548 543 Owned loans serviced 123 121 Subserviced for others 9 9 Total commercial servicing 680 673 Total managed servicing portfolio $ 2,132 2,175 Total serviced for others $ 1,655 1,707 Ratio of MSRs to related loans serviced for others 0.82 % 0.94 |
Mortgage Banking Noninterest Income | Table 11.4 presents the components of mortgage banking noninterest income. Table 11.4: Mortgage Banking Noninterest Income Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Servicing income, net: Servicing fees: Contractually specified servicing fees $ 846 901 1,686 1,817 Late charges 30 42 63 86 Ancillary fees 38 47 76 87 Unreimbursed direct servicing costs (1) (84 ) (85 ) (154 ) (179 ) Net servicing fees 830 905 1,671 1,811 Changes in fair value of MSRs carried at fair value: Due to changes in valuation model inputs or assumptions (2) (A) (1,078 ) 345 (1,969 ) 1,675 Changes due to collection/realization of expected cash flows over time (561 ) (460 ) (1,043 ) (943 ) Total changes in fair value of MSRs carried at fair value (1,639 ) (115 ) (3,012 ) 732 Amortization (69 ) (65 ) (135 ) (130 ) Net derivative gains (losses) from economic hedges (3) (B) 1,155 (319 ) 2,117 (1,539 ) Total servicing income, net 277 406 641 874 Net gains on mortgage loan origination/sales activities (4) 481 364 825 830 Total mortgage banking noninterest income $ 758 770 1,466 1,704 Market-related valuation changes to MSRs, net of hedge results (2)(3) (A)+(B) $ 77 26 148 136 (1) Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs. (2) Refer to the analysis of changes in fair value MSRs presented in Table 11.1 in this Note for more detail. (3) Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 15 (Derivatives) for additional discussion and detail. (4) Includes net gains (losses) of $(283) million and $(434) million in the second quarter and first half of 2019 , respectively, and $134 million and $759 million in the second quarter and first half of 2018 , respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross Carrying Value of Intangible Assets And Accumulated Amortization | Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization. Table 12.1: Intangible Assets June 30, 2019 December 31, 2018 (in millions) Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value Amortized intangible assets (1): MSRs (2) $ 4,260 (2,853 ) 1,407 4,161 (2,718 ) 1,443 Core deposit intangibles — — — 12,834 (12,834 ) — Customer relationship and other intangibles 3,937 (3,458 ) 479 3,994 (3,449 ) 545 Total amortized intangible assets $ 8,197 (6,311 ) 1,886 20,989 (19,001 ) 1,988 Unamortized intangible assets: MSRs (carried at fair value) (2) $ 12,096 14,649 Goodwill 26,415 26,418 Trademark 14 14 (1) Balances are excluded commencing in the period following full amortization. (2) |
Amortization Expense for Intangible Assets | Table 12.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at June 30, 2019 . Future amortization expense may vary from these projections. Table 12.2: Amortization Expense for Intangible Assets (in millions) Amortized MSRs Customer relationship and other intangibles Total Six months ended June 30, 2019 (actual) $ 135 59 194 Estimate for the remainder of 2019 $ 136 55 191 Estimate for year ended December 31, 2020 249 95 344 2021 213 81 294 2022 188 68 256 2023 159 59 218 2024 134 48 182 |
Allocation of Goodwill to Operating Segments | Table 12.3 shows the allocation of goodwill to our reportable operating segments. Table 12.3: Goodwill (in millions) Community Banking Wholesale Banking Wealth and Investment Management Consolidated Company December 31, 2017 $ 16,849 8,455 1,283 26,587 Reclassification of goodwill held for sale to other assets (155 ) — — (155 ) Reduction in goodwill related to divested businesses and other — (3 ) — (3 ) June 30, 2018 (1) $ 16,694 8,452 1,283 26,429 December 31, 2018 $ 16,685 8,450 1,283 26,418 Reclassification of goodwill held for sale to other assets — — (7 ) (7 ) Foreign currency translation — 4 — 4 June 30, 2019 (1) $ 16,685 8,454 1,276 26,415 (1) At June 30, 2018 , others assets included goodwill classified as held-for-sale of $155 million related to the sales agreements for Reliable Financial Services, Inc. and the branch divestitures announced in June 2018. At June 30, 2019 , other assets included goodwill classified as held-for-sale of $7 million related to the sale of our Institutional Retirement and Trust business, which was announced in April 2019 and closed on July 1, 2019. |
Guarantees, Pledged Assets an_2
Guarantees, Pledged Assets and Collateral and Other Commitments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Guarantees [Abstract] | |
Guarantees - Carrying Value and Maximum Exposure to Loss | Table 13.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts. Table 13.1: Guarantees – Carrying Value and Maximum Exposure to Loss Maximum exposure to loss (in millions) Carrying value of obligation (asset) Expires in one year or less Expires after one year through three years Expires after three years through five years Expires after five years Total Non- investment grade June 30, 2019 Standby letters of credit (1) $ 38 14,078 7,185 3,901 464 25,628 7,938 Securities lending and other indemnifications (2) — — 1 — 849 850 1 Written put options (3) (371 ) 12,574 11,682 2,803 386 27,445 15,882 Loans and MLHFS sold with recourse (4) 53 111 634 1,205 10,597 12,547 9,318 Factoring guarantees (5) — 639 — — — 639 558 Other guarantees 1 — — 3 4,146 4,149 1 Total guarantees $ (279 ) 27,402 19,502 7,912 16,442 71,258 33,698 December 31, 2018 Standby letters of credit (1) $ 40 14,636 7,897 3,398 497 26,428 8,027 Securities lending and other indemnifications (2) — — 1 — 1,044 1,045 1 Written put options (3) (185 ) 17,243 10,502 3,066 400 31,211 21,732 Loans and MLHFS sold with recourse (4) 54 104 653 1,207 10,163 12,127 9,079 Factoring guarantees (5) — 889 — — — 889 751 Other guarantees 1 — — 3 2,959 2,962 1 Total guarantees $ (90 ) 32,872 19,053 7,674 15,063 74,662 39,591 (1) Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $6.4 billion and $7.5 billion at June 30, 2019 , and December 31, 2018 , respectively. (2) Includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $90 million and $70 million with related collateral of $759 million and $974 million at June 30, 2019 , and December 31, 2018 , respectively. (3) Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 15 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades. (4) Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements. (5) |
Pledged Assets | Table 13.2 provides the total carrying amount of pledged assets by asset type and the fair value of pledged off-balance sheet securities for securities financings. The table excludes pledged consolidated VIE assets of $14.0 billion and $14.1 billion at June 30, 2019 , and December 31, 2018 , respectively, which can only be used to settle the liabilities of those entities. The table also excludes $357 million and $617 million in assets pledged in transactions with VIE’s accounted for as secured borrowings at June 30, 2019 , and December 31, 2018 , respectively. See Note 10 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings. Table 13.2: Pledged Assets (in millions) Jun 30, Dec 31, Related to trading activities: Debt securities $ 107,673 96,616 Equity securities 10,594 9,695 Total pledged assets related to trading activities (1) 118,267 106,311 Related to non-trading activities: Debt securities and other (2) 56,413 62,438 Mortgage loans held for sale and loans (3) 413,882 453,894 Total pledged assets related to non-trading activities 470,295 516,332 Total pledged assets $ 588,562 622,643 (1) Consists of pledged assets related to trading activities of $45.9 billion and $45.5 billion at June 30, 2019 , and December 31, 2018 , respectively and off-balance sheet securities of $72.3 billion and $60.8 billion as of the same dates, respectively, that are pledged as collateral for repurchase agreements and other securities financings. Total pledged assets related to trading activities includes $118.2 billion and $106.2 billion at June 30, 2019 , and December 31, 2018 , respectively, under agreements that permit the secured parties to sell or repledge the collateral. (2) Includes carrying value of $3.5 billion and $4.2 billion (fair value of $3.5 billion and $ 4.1 billion ) in collateral for repurchase agreements at June 30, 2019 , and December 31, 2018 , respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $33 million and $68 million in collateral pledged under repurchase agreements at June 30, 2019 , and December 31, 2018 , respectively, that permit the secured parties to sell or repledge the collateral. Substantially all other pledged securities are pursuant to agreements that do not permit the secured party to sell or repledge the collateral. (3) Includes mortgage loans held for sale of $2.0 billion and $7.4 billion at June 30, 2019 , and December 31, 2018 , respectively. Substantially all of the total mortgage loans held for sale and loans are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $551 million and $1.2 billion at June 30, 2019 , and December 31, 2018 , respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. |
Offsetting - Resale and Repurchase Agreements | Table 13.3 presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). We account for transactions subject to these agreements as collateralized financings, and those with a single counterparty are presented net on our balance sheet, provided certain criteria are met that permit balance sheet netting. Most transactions subject to these agreements do not meet those criteria and thus are not eligible for balance sheet netting. Collateral we pledged consists of non-cash instruments, such as securities or loans, and is not netted on the balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our balance sheet. Collateral pledged or received may be increased or decreased over time to maintain certain contractual thresholds, as the assets underlying each arrangement fluctuate in value. Generally, these agreements require collateral to exceed the asset or liability recognized on the balance sheet. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs or MSLAs. While these agreements are typically over-collateralized, U.S. GAAP requires disclosure in this table to limit the reported amount of such collateral to the amount of the related recognized asset or liability for each counterparty. In addition to the amounts included in Table 13.3 , we also have balance sheet netting related to derivatives that is disclosed in Note 15 (Derivatives). Table 13.3: Offsetting – Securities Financing Activities (in millions) Jun 30, Dec 31, Assets: Resale and securities borrowing agreements Gross amounts recognized $ 146,096 112,662 Gross amounts offset in consolidated balance sheet (1) (15,248 ) (15,258 ) Net amounts in consolidated balance sheet (2) 130,848 97,404 Collateral not recognized in consolidated balance sheet (3) (130,082 ) (96,734 ) Net amount (4) $ 766 670 Liabilities: Repurchase and securities lending agreements Gross amounts recognized (5) $ 116,900 106,248 Gross amounts offset in consolidated balance sheet (1) (15,248 ) (15,258 ) Net amounts in consolidated balance sheet (6) 101,652 90,990 Collateral pledged but not netted in consolidated balance sheet (7) (101,476 ) (90,798 ) Net amount (8) $ 176 192 (1) Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs that have been offset in the consolidated balance sheet. (2) Includes $112.1 billion and $80.1 billion classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at June 30, 2019 , and December 31, 2018 , respectively. Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $18.8 billion and $17.3 billion , at June 30, 2019 , and December 31, 2018 , respectively. (3) Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. At June 30, 2019 , and December 31, 2018 , we have received total collateral with a fair value of $157.4 billion and $123.1 billion , respectively, all of which, we have the right to sell or repledge. These amounts include securities we have sold or repledged to others with a fair value of $73.4 billion at June 30, 2019 , and $60.8 billion at December 31, 2018 . (4) Represents the amount of our exposure that is not collateralized and/or is not subject to an enforceable MRA or MSLA. (5) For additional information on underlying collateral and contractual maturities, see the “Repurchase and Securities Lending Agreements” section in this Note. (6) Amount is classified in short-term borrowings on our consolidated balance sheet. (7) Represents the fair value of collateral we have pledged, related to enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty. At June 30, 2019 , and December 31, 2018 , we have pledged total collateral with a fair value of $119.6 billion and $108.8 billion , respectively, of which, the counterparty does not have the right to sell or repledge $3.5 billion as of June 30, 2019 and $4.4 billion as of December 31, 2018 . (8) Represents the amount of our obligation that is not covered by pledged collateral and/or is not subject to an enforceable MRA or MSLA. |
Underlying Collateral Types of Gross Obligations and Contractual Maturities of Gross Obligations | Table 13.4 provides the gross amounts recognized on the balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. Table 13.4: Underlying Collateral Types of Gross Obligations (in millions) Jun 30, Dec 31, Repurchase agreements: Securities of U.S. Treasury and federal agencies $ 49,622 38,408 Securities of U.S. States and political subdivisions 97 159 Federal agency mortgage-backed securities 43,346 47,241 Non-agency mortgage-backed securities 1,754 1,875 Corporate debt securities 8,132 6,191 Asset-backed securities 2,258 2,074 Equity securities 2,034 992 Other 866 340 Total repurchases 108,109 97,280 Securities lending arrangements: Securities of U.S. Treasury and federal agencies 198 222 Federal agency mortgage-backed securities — 2 Corporate debt securities 483 389 Equity securities (1) 8,094 8,349 Other 16 6 Total securities lending 8,791 8,968 Total repurchases and securities lending $ 116,900 106,248 (1) Equity securities are generally exchange traded and either re-hypothecated under margin lending agreements or obtained through contemporaneous securities borrowing transactions with other counterparties. Table 13.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Table 13.5: Contractual Maturities of Gross Obligations (in millions) Overnight/continuous Up to 30 days 30-90 days >90 days Total gross obligation June 30, 2019 Repurchase agreements $ 96,487 3,565 3,938 4,119 108,109 Securities lending arrangements 8,643 — 148 — 8,791 Total repurchases and securities lending (1) $ 105,130 3,565 4,086 4,119 116,900 December 31, 2018 Repurchase agreements $ 86,574 3,244 2,153 5,309 97,280 Securities lending arrangements 8,669 — 299 — 8,968 Total repurchases and securities lending (1) $ 95,243 3,244 2,452 5,309 106,248 (1) Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending. |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional or Contractual Amounts and Fair Values of Derivatives | Table 15.1 presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged but is used only as the basis on which interest and other payments are determined. Table 15.1: Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2019 December 31, 2018 Notional or contractual amount Fair value Notional or contractual amount Fair value (in millions) Derivative assets Derivative liabilities Derivative Derivative Derivatives designated as hedging instruments Interest rate contracts $ 186,206 2,559 1,368 177,511 2,237 636 Foreign exchange contracts (1) 33,439 540 1,162 34,176 573 1,376 Total derivatives designated as qualifying hedging instruments 3,099 2,530 2,810 2,012 Derivatives not designated as hedging instruments Economic hedges: Interest rate contracts (2) 255,760 692 290 173,215 849 369 Equity contracts 17,374 1,213 658 13,920 1,362 79 Foreign exchange contracts 20,829 212 85 19,521 225 80 Credit contracts – protection purchased 220 38 — 100 27 — Subtotal 2,155 1,033 2,463 528 Customer accommodation trading and other derivatives: Interest rate contracts 11,130,569 22,302 18,979 9,162,821 15,349 15,303 Commodity contracts 72,255 1,424 1,936 66,173 1,588 2,336 Equity contracts 246,045 6,164 8,520 217,890 6,183 5,931 Foreign exchange contracts 353,918 4,803 5,021 364,982 5,916 5,657 Credit contracts – protection sold 10,507 15 80 11,741 76 182 Credit contracts – protection purchased 20,784 88 17 20,880 175 98 Subtotal 34,796 34,553 29,287 29,507 Total derivatives not designated as hedging instruments 36,951 35,586 31,750 30,035 Total derivatives before netting 40,050 38,116 34,560 32,047 Netting (3) (26,888 ) (29,717 ) (23,790 ) (23,548 ) Total $ 13,162 8,399 10,770 8,499 (1) The notional amount for foreign exchange contracts at June 30, 2019 , and December 31, 2018 , excludes $10.0 billion and $11.2 billion , respectively, for certain derivatives that are combined for designation as a hedge on a single instrument. (2) Includes economic hedge derivatives used to hedge the risk of changes in the fair value of residential MSRs, MLHFS, loans, derivative loan commitments and other interests held. (3) Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Table 15.2 for further information. |
Gross Fair Values of Derivative Assets and Liabilities | Table 15.2 provides information on the gross fair values of derivative assets and liabilities, the balance sheet netting adjustments and the resulting net fair value amount recorded on our balance sheet, as well as the non-cash collateral associated with such arrangements. We execute substantially all of our derivative transactions under master netting arrangements and reflect all derivative balances and related cash collateral subject to enforceable master netting arrangements on a net basis within the balance sheet. The “Gross amounts recognized” column in the following table includes $35.1 billion and $34.9 billion of gross derivative assets and liabilities, respectively, at June 30, 2019 , and $30.9 billion and $28.4 billion , respectively, at December 31, 2018 , with counterparties subject to enforceable master netting arrangements that are carried on the balance sheet net of offsetting amounts. The remaining gross derivative assets and liabilities of $5.0 billion and $3.2 billion , respectively, at June 30, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 , include those with counterparties subject to master netting arrangements for which we have not assessed the enforceability because they are with counterparties where we do not currently have positions to offset, those subject to master netting arrangements where we have not been able to confirm the enforceability and those not subject to master netting arrangements. As such, we do not net derivative balances or collateral within the balance sheet for these counterparties. We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement. We disclose the balance sheet netting amounts within the column titled “Gross amounts offset in consolidated balance sheet.” Balance sheet netting adjustments are determined at the counterparty level for which there may be multiple contract types. For disclosure purposes, we allocate these netting adjustments to the contract type for each counterparty proportionally based upon the “Gross amounts recognized” by counterparty. As a result, the net amounts disclosed by contract type may not represent the actual exposure upon settlement of the contracts. We do not net non-cash collateral that we receive and pledge on the balance sheet. For disclosure purposes, we present the fair value of this non-cash collateral in the column titled “Gross amounts not offset in consolidated balance sheet (Disclosure-only netting)” within the table. We determine and allocate the Disclosure-only netting amounts in the same manner as balance sheet netting amounts. The “Net amounts” column within Table 15.2 represents the aggregate of our net exposure to each counterparty after considering the balance sheet and Disclosure-only netting adjustments. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty specific credit risk limits, using master netting arrangements and obtaining collateral. Derivative contracts executed in over-the-counter markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to master netting arrangements. The percentage of our bilateral derivative transactions outstanding at period end in such markets, based on gross fair value, is provided within the following table. Other derivative contracts executed in over-the-counter or exchange-traded markets are settled through a central clearing organization and are excluded from this percentage. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments). Table 15.2: Gross Fair Values of Derivative Assets and Liabilities (in millions) Gross amounts recognized Gross amounts offset in consolidated balance sheet (1) Net amounts in consolidated balance sheet Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) (2) Net amounts Percent exchanged in over-the-counter market (3) June 30, 2019 Derivative assets Interest rate contracts $ 25,553 (16,558 ) 8,995 (313 ) 8,682 95 % Commodity contracts 1,424 (951 ) 473 (1 ) 472 73 Equity contracts 7,377 (5,041 ) 2,336 (34 ) 2,302 71 Foreign exchange contracts 5,555 (4,250 ) 1,305 (8 ) 1,297 100 Credit contracts – protection sold 15 (9 ) 6 — 6 74 Credit contracts – protection purchased 126 (79 ) 47 (1 ) 46 99 Total derivative assets $ 40,050 (26,888 ) 13,162 (357 ) 12,805 Derivative liabilities Interest rate contracts $ 20,637 (18,046 ) 2,591 (848 ) 1,743 95 % Commodity contracts 1,936 (738 ) 1,198 — 1,198 81 Equity contracts 9,178 (5,934 ) 3,244 (214 ) 3,030 84 Foreign exchange contracts 6,268 (4,918 ) 1,350 (197 ) 1,153 100 Credit contracts – protection sold 80 (75 ) 5 (3 ) 2 99 Credit contracts – protection purchased 17 (6 ) 11 — 11 98 Total derivative liabilities $ 38,116 (29,717 ) 8,399 (1,262 ) 7,137 December 31, 2018 Derivative assets Interest rate contracts $ 18,435 (12,029 ) 6,406 (80 ) 6,326 90 % Commodity contracts 1,588 (849 ) 739 (4 ) 735 57 Equity contracts 7,545 (5,318 ) 2,227 (755 ) 1,472 78 Foreign exchange contracts 6,714 (5,355 ) 1,359 (35 ) 1,324 100 Credit contracts – protection sold 76 (73 ) 3 — 3 12 Credit contracts – protection purchased 202 (166 ) 36 (1 ) 35 78 Total derivative assets $ 34,560 (23,790 ) 10,770 (875 ) 9,895 Derivative liabilities Interest rate contracts $ 16,308 (13,152 ) 3,156 (567 ) 2,589 92 % Commodity contracts 2,336 (727 ) 1,609 (8 ) 1,601 85 Equity contracts 6,010 (3,877 ) 2,133 (110 ) 2,023 75 Foreign exchange contracts 7,113 (5,522 ) 1,591 (188 ) 1,403 100 Credit contracts – protection sold 182 (180 ) 2 (2 ) — 67 Credit contracts – protection purchased 98 (90 ) 8 — 8 11 Total derivative liabilities $ 32,047 (23,548 ) 8,499 (875 ) 7,624 (1) Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in the consolidated balance sheet, including related cash collateral and portfolio level counterparty valuation adjustments. Counterparty valuation adjustments were $301 million and $353 million related to derivative assets and $92 million and $152 million related to derivative liabilities at June 30, 2019 , and December 31, 2018 , respectively. Cash collateral totaled $3.6 billion and $6.6 billion , netted against derivative assets and liabilities, respectively, at June 30, 2019 , and $3.7 billion and $3.6 billion , respectively, at December 31, 2018 . (2) Represents the fair value of non-cash collateral pledged and received against derivative assets and liabilities with the same counterparty that are subject to enforceable master netting arrangements. U.S. GAAP does not permit netting of such non-cash collateral balances in the consolidated balance sheet but requires disclosure of these amounts. (3) Over-the-counter percentages are calculated based on gross amounts recognized as of the respective balance sheet date. |
Derivatives in Fair Value and Cash Flow Hedging Relationships | Table 15.3 shows the net gains (losses) related to derivatives in fair value and cash flow hedging relationships. Table 15.3: Gains (Losses) Recognized in Consolidated Statement of Income on Fair Value and Cash Flow Hedging Relationships Net interest income Noninterest income (in millions) Debt securities Loans Mortgage loans held for sale Deposits Long-term debt Other Total Quarter ended June 30, 2019 Total amounts presented in the consolidated statement of income $ 3,781 11,316 195 (2,213 ) (1,900 ) 744 11,923 Gains (losses) on fair value hedging relationships Interest contracts Amounts related to interest settlements on derivatives (1) 14 — — (7 ) 7 — 14 Recognized on derivatives (1,089 ) — (25 ) 351 2,947 — 2,184 Recognized on hedged items 1,096 — 24 (343 ) (2,890 ) — (2,113 ) Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 10 — — — (128 ) — (118 ) Recognized on derivatives (3) (5 ) — — — 205 326 526 Recognized on hedged items 4 — — — (186 ) (315 ) (497 ) Net income (expense) recognized on fair value hedges 30 — (1 ) 1 (45 ) 11 (4 ) Gains (losses) on cash flow hedging relationships Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (77 ) — — 1 — (76 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) $ — — — — (3 ) — (3 ) Net income (expense) recognized on cash flow hedges $ — (77 ) — — (2 ) — (79 ) Six months ended June 30, 2019 Total amounts presented in the consolidated statement of income $ 7,722 22,670 347 (4,239 ) (3,827 ) 1,318 23,991 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) 30 — — (30 ) — — — Recognized on derivatives (1,903 ) — (33 ) 558 4,933 — 3,555 Recognized on hedged items 1,913 — 31 (533 ) (4,837 ) — (3,426 ) Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 20 — — — (270 ) — (250 ) Recognized on derivatives (3) (9 ) — — — 497 (76 ) 412 Recognized on hedged items 9 — — — (452 ) 76 (367 ) Net income (expense) recognized on fair value hedges 60 — (2 ) (5 ) (129 ) — (76 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (155 ) — — 1 — (154 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — (4 ) — (4 ) Net income (expense) recognized on cash flow hedges $ — (155 ) — — (3 ) — (158 ) (continued on following page) (continued from previous page) Net interest income Noninterest income (in millions) Debt securities Loans Mortgage loans held for sale Deposits Long-term debt Other Total Quarter ended June 30, 2018 Total amounts presented in the consolidated statement of income $ 3,594 10,912 198 (1,268 ) (1,658 ) 485 12,263 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) (42 ) — (1 ) (20 ) 81 — 18 Recognized on derivatives 356 — 5 (41 ) (819 ) — (499 ) Recognized on hedged items (352 ) — (7 ) 31 780 — 452 Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 10 — — — (102 ) — (92 ) Recognized on derivatives (3) 2 — — — 97 (1,410 ) (1,311 ) Recognized on hedged items 1 — — — (82 ) 1,308 1,227 Net income (expense) recognized on fair value hedges (25 ) — (3 ) (30 ) (45 ) (102 ) (205 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (77 ) — — — — (77 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — — — — Net income (expense) recognized on cash flow hedges $ — (77 ) — — — — (77 ) Six months ended June 30, 2018 Total amounts presented in the consolidated statement of income $ 7,008 21,491 377 (2,358 ) (3,234 ) 1,087 24,371 Gains (losses) on fair value hedging relationships: Interest contracts Amounts related to interest settlements on derivatives (1) (124 ) — (2 ) (25 ) 252 — 101 Recognized on derivatives 1,306 1 11 (190 ) (3,212 ) — (2,084 ) Recognized on hedged items (1,320 ) (1 ) (15 ) 172 3,114 — 1,950 Foreign exchange contracts Amounts related to interest settlements on derivatives (1)(2) 15 — — — (182 ) — (167 ) Recognized on derivatives (3) 6 — — — (74 ) (750 ) (818 ) Recognized on hedged items (2 ) — — — 27 681 706 Net income (expense) recognized on fair value hedges (119 ) — (6 ) (43 ) (75 ) (69 ) (312 ) Gains (losses) on cash flow hedging relationships: Interest contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — (137 ) — — — — (137 ) Foreign exchange contracts Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4) — — — — — — — Net income (expense) recognized on cash flow hedges $ — (137 ) — — — — (137 ) (1) Includes changes in fair value due to the passage of time associated with the non-zero fair value amount at hedge inception. (2) The second quarter and first half of 2019 included $7 million and $14 million , respectively, and the second quarter and first half of 2018 both included $2 million of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency debt securities and long-term debt that were excluded from the assessment of hedge effectiveness. (3) For certain fair value hedges of foreign currency risk, changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. See Note 21 (Other Comprehensive Income) for the amounts recognized in other comprehensive income. (4) See Note 21 (Other Comprehensive Income) for details of amounts reclassified to net income. |
Hedged Items in Fair Value Hedging Relationships | Table 15.4 shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships. Table 15.4: Hedged Items in Fair Value Hedging Relationship Hedged Items Currently Designated Hedged Items No Longer Designated (1) (in millions) Carrying Amount of Assets/(Liabilities) (2)(4) Hedge Accounting Basis Adjustment Assets/(Liabilities) (3) Carrying Amount of Assets/(Liabilities) (4) Hedge Accounting Basis Adjustment June 30, 2019 Available-for-sale debt securities (5) $ 39,478 1,226 5,704 110 Mortgage loans held for sale 852 16 388 4 Deposits (56,584 ) (425 ) — — Long-term debt (115,922 ) (5,999 ) (25,638 ) 270 December 31, 2018 Available-for-sale debt securities (5) 37,857 (157 ) 4,938 238 Mortgage loans held for sale 448 7 — — Deposits (56,535 ) 115 — — Long-term debt (104,341 ) (742 ) (25,539 ) 366 (1) Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date. (2) Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded $1.5 billion for debt securities and $(5.7) billion for long-term debt as of June 30, 2019 , and $1.6 billion for debt securities and $(6.3) billion for long-term debt as of December 31, 2018 . (3) The balance includes $828 million and $99 million of debt securities and long-term debt cumulative basis adjustments, respectively, as of June 30, 2019 , and $1.4 billion and $66 million of debt securities and long-term debt cumulative basis adjustments,respectively, as of December 31, 2018 , on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges. (4) Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented. (5) Carrying amount represents the amortized cost. |
Derivatives Not Designated as Hedging Instruments | Table 15.5 shows the net gains (losses) recognized by income statement lines, related to derivatives not designated as hedging instruments. Table 15.5: Gains (Losses) on Derivatives Not Designated as Hedging Instruments Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Quarter ended June 30, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 872 — — 2 874 Equity contracts — (658 ) — (7 ) (665 ) Foreign exchange contracts — — — 164 164 Credit contracts — — — (5 ) (5 ) Subtotal (2) 872 (658 ) — 154 368 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) 179 — (222 ) — (43 ) Commodity contracts — — 27 — 27 Equity contracts — — (1,110 ) (133 ) (1,243 ) Foreign exchange contracts — — (83 ) — (83 ) Credit contracts — — (16 ) — (16 ) Subtotal 179 — (1,404 ) (133 ) (1,358 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,051 (658 ) (1,404 ) 21 (990 ) Six months ended June 30, 2019 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ 1,683 — — 7 1,690 Equity contracts — (1,543 ) — — (1,543 ) Foreign exchange contracts — — — 140 140 Credit contracts — — — 10 10 Subtotal (2) 1,683 (1,543 ) — 157 297 Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) 297 — (506 ) — (209 ) Commodity contracts — — 78 — 78 Equity contracts — — (3,259 ) (406 ) (3,665 ) Foreign exchange contracts — — (69 ) — (69 ) Credit contracts — — (60 ) — (60 ) Subtotal 297 — (3,816 ) (406 ) (3,925 ) Net gains (losses) recognized related to derivatives not designated as hedging instruments $ 1,980 (1,543 ) (3,816 ) (249 ) (3,628 ) (continued on following page) (continued from previous page) Noninterest income (in millions) Mortgage banking Net gains (losses) from equity securities Net gains (losses) from trading activities Other Total Quarter ended June 30, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (185 ) — — (3 ) (188 ) Equity contracts — (540 ) — 5 (535 ) Foreign exchange contracts — — — 486 486 Credit contracts — — — (10 ) (10 ) Subtotal (2) (185 ) (540 ) — 478 (247 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) (46 ) — 182 — 136 Commodity contracts — — 35 — 35 Equity contracts — — 655 (71 ) 584 Foreign exchange contracts — — 91 — 91 Credit contracts — — (4 ) — (4 ) Subtotal (46 ) — 959 (71 ) 842 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (231 ) (540 ) 959 407 595 Six months ended June 30, 2018 Net gains (losses) recognized on economic hedges derivatives: Interest contracts (1) $ (780 ) — — 6 (774 ) Equity contracts — (598 ) — 5 (593 ) Foreign exchange contracts — — — 327 327 Credit contracts — — — (6 ) (6 ) Subtotal (2) (780 ) (598 ) — 332 (1,046 ) Net gains (losses) recognized on customer accommodation trading and other derivatives: Interest contracts (3) (305 ) — 567 — 262 Commodity contracts — — 74 — 74 Equity contracts — — 1,114 (266 ) 848 Foreign exchange contracts — — 401 — 401 Credit contracts — — 6 — 6 Subtotal (305 ) — 2,162 (266 ) 1,591 Net gains (losses) recognized related to derivatives not designated as hedging instruments $ (1,085 ) (598 ) 2,162 66 545 (1) Mortgage banking amounts for the second quarter and first half of 2019 are comprised of gains (losses) of $1.2 billion and $2.1 billion , respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $(283) million and $(434) million related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. The corresponding amounts for the second quarter and first half of 2018 are comprised of gains (losses) of $(319) million and $(1.5) billion offset by gains (losses) of $134 million and $759 million , respectively. (2) Includes hedging gains (losses) of $(18) million and $(36) million for the second quarter and first half of 2019 , respectively, and $8 million and $36 million for the second quarter and first half of 2018 , respectively, which partially offset hedge accounting ineffectiveness. (3) Amounts presented in mortgage banking noninterest income are gains (losses) on derivative loan commitments. |
Sold and Purchased Credit Derivatives | Table 15.6 provides details of sold and purchased credit derivatives. Table 15.6: Sold and Purchased Credit Derivatives Notional amount (in millions) Fair value liability Protection sold (A) Protection sold – non- investment grade Protection purchased with identical underlyings (B) Net protection sold (A) - (B) Other protection purchased Range of maturities June 30, 2019 Credit default swaps on: Corporate bonds $ 1 1,995 472 1,362 633 2,021 2019 - 2029 Structured products 31 138 133 109 29 113 2022 - 2047 Credit protection on: Default swap index — 1,897 194 163 1,734 3,923 2019 - 2029 Commercial mortgage-backed securities index 38 342 87 316 26 51 2047 - 2058 Asset-backed securities index 8 41 41 41 — 1 2045 - 2046 Other 2 6,094 5,796 — 6,094 12,904 2019 - 2048 Total credit derivatives $ 80 10,507 6,723 1,991 8,516 19,013 December 31, 2018 Credit default swaps on: Corporate bonds $ 59 2,037 441 1,374 663 1,460 2019 - 2027 Structured products 62 133 128 121 12 113 2022 - 2047 Credit protection on: Default swap index 1 3,618 582 1,998 1,620 2,896 2019 - 2028 Commercial mortgage-backed securities index 49 389 109 363 26 51 2047 - 2058 Asset-backed securities index 9 42 42 42 — 1 2045 - 2046 Other 2 5,522 5,327 — 5,522 12,561 2018 - 2048 Total credit derivatives $ 182 11,741 6,629 3,898 7,843 17,082 |
Fair Values of Assets and Lia_2
Fair Values of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurements from Brokers or Third Party Pricing Services | Table 16.1 presents unadjusted fair value measurements provided by brokers or third-party pricing services by fair value hierarchy level. Fair value measurements obtained from brokers or third-party pricing services that we have adjusted to determine the fair value recorded in our financial statements are excluded from Table 16.1 . Table 16.1: Fair Value Measurements by Brokers or Third-Party Pricing Services Brokers Third-party pricing services (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 June 30, 2019 Trading debt securities $ — — — 534 319 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies — — — 12,324 2,995 — Securities of U.S. states and political subdivisions — — — — 44,642 38 Mortgage-backed securities — — — — 161,260 41 Other debt securities (1) — 45 130 — 41,947 663 Total available-for-sale debt securities — 45 130 12,324 250,844 742 Equity securities: Marketable — — — — 160 — Nonmarketable — — — — — — Total equity securities — — — — 160 — Derivative assets — — — 12 — — Derivative liabilities — — — (13 ) (2 ) — Other liabilities (2) — — — — — — December 31, 2018 Trading debt securities $ — — — 899 256 — Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies — — — 10,399 2,949 — Securities of U.S. states and political subdivisions — — — — 48,377 43 Mortgage-backed securities — — — — 160,162 41 Other debt securities (1) — 45 129 — 44,292 758 Total available-for-sale debt securities — 45 129 10,399 255,780 842 Equity securities: Marketable — — — — 158 — Nonmarketable — — — — 1 — Total equity securities — — — — 159 — Derivative assets — — — 17 — — Derivative liabilities — — — (12 ) — — Other liabilities (2) — — — — — — (1) Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities. (2) Includes short sale liabilities and other liabilities. |
Assets and Liabilities Recorded at Fair Value on a Recurring Basis | Table 16.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis. Table 16.2: Fair Value on a Recurring Basis (in millions) Level 1 Level 2 Level 3 Netting (1) Total June 30, 2019 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 15,010 3,215 — — 18,225 Securities of U.S. states and political subdivisions — 3,314 — — 3,314 Collateralized loan obligations — 758 249 — 1,007 Corporate debt securities — 11,321 44 — 11,365 Mortgage-backed securities — 35,186 — — 35,186 Asset-backed securities — 1,084 — — 1,084 Other trading debt securities — 13 14 — 27 Total trading debt securities 15,010 54,891 307 — 70,208 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 12,324 2,995 — — 15,319 Securities of U.S. states and political subdivisions — 44,704 391 — 45,095 Mortgage-backed securities: Federal agencies — 155,858 — — 155,858 Residential — 1,263 — — 1,263 Commercial — 4,139 41 — 4,180 Total mortgage-backed securities — 161,260 41 — 161,301 Corporate debt securities 37 5,810 383 — 6,230 Collateralized loan and other debt obligations (2) — 32,346 649 — 32,995 Asset-backed securities: Automobile loans and leases — 889 — — 889 Home equity loans — 14 — — 14 Other asset-backed securities — 3,792 341 — 4,133 Total asset-backed securities — 4,695 341 — 5,036 Other debt securities — 7 — — 7 Total available-for-sale debt securities 12,361 251,817 1,805 (3) — 265,983 Mortgage loans held for sale — 15,228 1,115 — 16,343 Loans held for sale — 1,106 12 — 1,118 Loans — — 202 — 202 Mortgage servicing rights (residential) — — 12,096 — 12,096 Derivative assets: Interest rate contracts 45 25,258 250 — 25,553 Commodity contracts — 1,404 20 — 1,424 Equity contracts 2,162 3,300 1,915 — 7,377 Foreign exchange contracts 12 5,522 21 — 5,555 Credit contracts — 62 79 — 141 Netting — — — (26,888 ) (26,888 ) Total derivative assets 2,219 35,546 2,285 (26,888 ) 13,162 Equity securities - excluding securities at NAV: Marketable 28,447 259 — — 28,706 Nonmarketable — 16 7,110 — 7,126 Total equity securities 28,447 275 7,110 — 35,832 Total assets included in the fair value hierarchy $ 58,037 358,863 24,932 (26,888 ) 414,944 Equity securities at NAV (4) 118 Total assets recorded at fair value 415,062 Derivative liabilities: Interest rate contracts $ (55 ) (20,537 ) (45 ) — (20,637 ) Commodity contracts — (1,887 ) (49 ) — (1,936 ) Equity contracts (1,509 ) (5,526 ) (2,143 ) — (9,178 ) Foreign exchange contracts (13 ) (6,224 ) (31 ) — (6,268 ) Credit contracts — (63 ) (34 ) — (97 ) Netting — — — 29,717 29,717 Total derivative liabilities (1,577 ) (34,237 ) (2,302 ) 29,717 (8,399 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (7,768 ) (230 ) — — (7,998 ) Mortgage-backed securities — (533 ) — — (533 ) Asset-backed securities — (10 ) — — (10 ) Corporate debt securities — (4,887 ) — — (4,887 ) Equity securities (2,527 ) — — — (2,527 ) Other securities — — — — — Total short sale liabilities (10,295 ) (5,660 ) — — (15,955 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (11,872 ) (39,897 ) (2,304 ) 29,717 (24,356 ) (1) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information. (2) Includes collateralized debt obligations of $649 million . (3) A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. (continued on following page) (continued from previous page) (in millions) Level 1 Level 2 Level 3 Netting (1) Total December 31, 2018 Trading debt securities: Securities of U.S. Treasury and federal agencies $ 20,525 2,892 — — 23,417 Securities of U.S. states and political subdivisions — 3,272 3 — 3,275 Collateralized loan obligations — 673 237 — 910 Corporate debt securities — 10,723 34 — 10,757 Mortgage-backed securities — 30,715 — — 30,715 Asset-backed securities — 893 — — 893 Other trading debt securities — 6 16 — 22 Total trading debt securities 20,525 49,174 290 — 69,989 Available-for-sale debt securities: Securities of U.S. Treasury and federal agencies 10,399 2,949 — — 13,348 Securities of U.S. states and political subdivisions — 48,820 444 — 49,264 Mortgage-backed securities: Federal agencies — 153,203 — — 153,203 Residential — 2,775 — — 2,775 Commercial — 4,184 41 — 4,225 Total mortgage-backed securities — 160,162 41 — 160,203 Corporate debt securities 34 5,867 370 — 6,271 Collateralized loan and other debt obligations (2) — 34,543 800 — 35,343 Asset-backed securities: Automobile loans and leases — 925 — — 925 Home equity loans — 112 — — 112 Other asset-backed securities — 4,056 389 — 4,445 Total asset-backed securities — 5,093 389 — 5,482 Other debt securities — 1 — — 1 Total available-for-sale debt securities 10,433 257,435 2,044 (3) — 269,912 Mortgage loans held for sale — 10,774 997 — 11,771 Loans held for sale — 1,409 60 — 1,469 Loans — — 244 — 244 Mortgage servicing rights (residential) — — 14,649 — 14,649 Derivative assets: Interest rate contracts 46 18,294 95 — 18,435 Commodity contracts — 1,535 53 — 1,588 Equity contracts 1,648 4,582 1,315 — 7,545 Foreign exchange contracts 17 6,689 8 — 6,714 Credit contracts — 179 99 — 278 Netting — — — (23,790 ) (23,790 ) Total derivative assets 1,711 31,279 1,570 (23,790 ) 10,770 Equity securities - excluding securities at NAV: Marketable 23,205 757 — — 23,962 Nonmarketable — 24 5,468 — 5,492 Total equity securities 23,205 781 5,468 — 29,454 Total assets included in the fair value hierarchy $ 55,874 350,852 25,322 (23,790 ) 408,258 Equity securities at NAV (4) 102 Total assets recorded at fair value 408,360 Derivative liabilities: Interest rate contracts $ (21 ) (16,217 ) (70 ) — (16,308 ) Commodity contracts — (2,287 ) (49 ) — (2,336 ) Equity contracts (1,492 ) (3,186 ) (1,332 ) — (6,010 ) Foreign exchange contracts (12 ) (7,067 ) (34 ) — (7,113 ) Credit contracts — (216 ) (64 ) — (280 ) Netting — — — 23,548 23,548 Total derivative liabilities (1,525 ) (28,973 ) (1,549 ) 23,548 (8,499 ) Short sale liabilities: Securities of U.S. Treasury and federal agencies (11,850 ) (411 ) — — (12,261 ) Mortgage-backed securities — (47 ) — — (47 ) Corporate debt securities — (4,505 ) — — (4,505 ) Equity securities (2,902 ) (2 ) — — (2,904 ) Other securities — (3 ) — — (3 ) Total short sale liabilities (14,752 ) (4,968 ) — — (19,720 ) Other liabilities — — (2 ) — (2 ) Total liabilities recorded at fair value $ (16,277 ) (33,941 ) (1,551 ) 23,548 (28,221 ) (1) Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information. (2) Includes collateralized debt obligations of $800 million . (3) A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity. (4) Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy. |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Level 3 Reconciliation | Table 16.3: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2019 Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (4) (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period Quarter ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — — — — Collateralized loan obligations 275 (2 ) — (24 ) — — 249 (6 ) Corporate debt securities 41 1 — 3 — (1 ) 44 1 Other trading debt securities 15 (1 ) — — — — 14 — Total trading debt securities 331 (2 ) — (21 ) — (1 ) 307 (5 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 470 1 2 (33 ) — (49 ) 391 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — — — — 41 — Total mortgage-backed securities 41 — — — — — 41 — Corporate debt securities 377 — (1 ) 7 — — 383 — Collateralized loan and other debt obligations 755 7 (6 ) (107 ) — — 649 — Asset-backed securities: Other asset-backed securities 362 — — (21 ) — — 341 — Total asset-backed securities 362 — — (21 ) — — 341 — Total available-for-sale debt securities 2,005 8 (5 ) (154 ) — (49 ) 1,805 — (6) Mortgage loans held for sale 998 37 — (22 ) 104 (2 ) 1,115 39 (7) Loans held for sale 71 — — (3 ) — (56 ) 12 — Loans 225 1 — (24 ) — — 202 (2 ) (7) Mortgage servicing rights (residential)(8) 13,336 (1,639 ) — 399 — — 12,096 (1,078 ) (7) Net derivative assets and liabilities: Interest rate contracts 101 237 — (133 ) — — 205 141 Commodity contracts (18 ) (75 ) — 64 — — (29 ) (10 ) Equity contracts (162 ) 15 — (66 ) (2 ) (13 ) (228 ) (29 ) Foreign exchange contracts (16 ) 3 — 3 — — (10 ) 7 Credit contracts 49 (3 ) — (1 ) — — 45 (3 ) Total derivative contracts (46 ) 177 — (133 ) (2 ) (13 ) (17 ) 106 (9) Equity securities: Nonmarketable 6,381 724 — — 5 — 7,110 724 Total equity securities 6,381 724 — — 5 — 7,110 724 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.4 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.4 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2019 . Table 16.4: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2019 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 44 (65 ) — (3 ) (24 ) Corporate debt securities 6 (3 ) — — 3 Other trading debt securities — — — — — Total trading debt securities 50 (68 ) — (3 ) (21 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — 6 (39 ) (33 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 8 — — (1 ) 7 Collateralized loan and other debt obligations — — — (107 ) (107 ) Asset-backed securities: Other asset-backed securities — (2 ) 57 (76 ) (21 ) Total asset-backed securities — (2 ) 57 (76 ) (21 ) Total available-for-sale debt securities 8 (2 ) 63 (223 ) (154 ) Mortgage loans held for sale 30 (47 ) 54 (59 ) (22 ) Loans held for sale — (1 ) — (2 ) (3 ) Loans — — 2 (26 ) (24 ) Mortgage servicing rights (residential) (1) — (1 ) 400 — 399 Net derivative assets and liabilities: Interest rate contracts — — — (133 ) (133 ) Commodity contracts — — — 64 64 Equity contracts — — — (66 ) (66 ) Foreign exchange contracts — — — 3 3 Credit contracts 2 (3 ) — — (1 ) Total derivative contracts 2 (3 ) — (132 ) (133 ) Equity securities: Nonmarketable — — — — — Total equity securities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (continued from previous page) Table 16.5 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018 . Table 16.5: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2018 Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period (4) Quarter ended June 30, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — — — — 3 — Collateralized loan obligations 316 (6 ) — (19 ) — — 291 (8 ) Corporate debt securities 34 — — 3 — (1 ) 36 1 Other trading debt securities 18 (1 ) — — — — 17 — Total trading debt securities 371 (7 ) — (16 ) — (1 ) 347 (7 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 617 1 — (49 ) — (10 ) 559 — Mortgage-backed securities: Residential 1 — (1 ) — — — — — Commercial 67 — (1 ) (13 ) — — 53 — Total mortgage-backed securities 68 — (2 ) (13 ) — — 53 — Corporate debt securities 410 1 1 31 — — 443 — Collateralized loan and other debt obligations 1,045 6 10 (24 ) — — 1,037 — Asset-backed securities: Other asset-backed securities 501 — (1 ) (99 ) — — 401 — Total asset-backed securities 501 — (1 ) (99 ) — — 401 — Total available-for-sale debt securities 2,641 8 8 (154 ) — (10 ) 2,493 — (6) Mortgage loans held for sale 950 (11 ) — 25 25 (3 ) 986 (11 ) (7) Loans held for sale — (1 ) — — 21 — 20 — Loans 352 — — (31 ) — — 321 (4 ) (7) Mortgage servicing rights (residential) (8) 15,041 (115 ) — 485 — — 15,411 345 (7) Net derivative assets and liabilities: Interest rate contracts (8 ) (63 ) — 30 — — (41 ) 6 Commodity contracts 10 15 — (2 ) 3 — 26 21 Equity contracts (322 ) (12 ) — (7 ) — 2 (339 ) 261 Foreign exchange contracts 1 (18 ) — 2 — — (15 ) (13 ) Credit contracts 41 (12 ) — (5 ) — — 24 (17 ) Total derivative contracts (278 ) (90 ) — 18 3 2 (345 ) 258 (9) Equity securities: Nonmarketable 5,219 585 — — 6 (4 ) 5,806 586 Total equity securities 5,219 585 — — 6 (4 ) 5,806 586 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.6 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.6 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018 . Table 16.6: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2018 (in millions) Purchases Sales Issuances Settlements Net Quarter ended June 30, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 89 (39 ) — (69 ) (19 ) Corporate debt securities 4 (1 ) — — 3 Other trading debt securities — — — — — Total trading debt securities 93 (40 ) — (69 ) (16 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — — (49 ) (49 ) Mortgage-backed securities: Residential — — — — — Commercial — — — (13 ) (13 ) Total mortgage-backed securities — — — (13 ) (13 ) Corporate debt securities 31 — — — 31 Collateralized loan and other debt obligations — — — (24 ) (24 ) Asset-backed securities: Other asset-backed securities — — 9 (108 ) (99 ) Total asset-backed securities — — 9 (108 ) (99 ) Total available-for-sale debt securities 31 — 9 (194 ) (154 ) Mortgage loans held for sale 20 (68 ) 109 (36 ) 25 Loans held for sale — — — — — Loans — — 4 (35 ) (31 ) Mortgage servicing rights (residential) (1) — (1 ) 486 — 485 Net derivative assets and liabilities: Interest rate contracts — — — 30 30 Commodity contracts — — — (2 ) (2 ) Equity contracts — — — (7 ) (7 ) Foreign exchange contracts — — — 2 2 Credit contracts 5 (2 ) — (8 ) (5 ) Total derivative contracts 5 (2 ) — 15 18 Equity securities: Nonmarketable — — — — — Total equity securities — — — — — Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019 , are presented in Table 16.7 . Table 16.7: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2019 Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (4) (in millions) Balance, beginning of period Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period Six months ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ 3 — — (2 ) — (1 ) — — Collateralized loan obligations 237 (5 ) — 17 — — 249 (4 ) Corporate debt securities 34 3 — 7 1 (1 ) 44 3 Other trading debt securities 16 (2 ) — — — — 14 — Total trading debt securities 290 (4 ) — 22 1 (2 ) 307 (1 ) (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 444 1 5 (10 ) — (49 ) 391 — Mortgage-backed securities: Residential — — — — — — — — Commercial 41 — — — — — 41 — Total mortgage-backed securities 41 — — — — — 41 — Corporate debt securities 370 1 3 9 — — 383 — Collateralized loan and other debt obligations 800 13 (10 ) (154 ) — — 649 — Asset-backed securities: Other asset-backed securities 389 — (1 ) (47 ) — — 341 — Total asset-backed securities 389 — (1 ) (47 ) — — 341 — Total available-for-sale debt securities 2,044 15 (3 ) (202 ) — (49 ) 1,805 — (6) Mortgage loans held for sale 997 52 — (88 ) 160 (6 ) 1,115 54 (7) Loans held for sale 60 — — 8 37 (93 ) 12 — Loans 244 1 — (43 ) — — 202 (4 ) (7) Mortgage servicing rights (residential) (8) 14,649 (3,012 ) — 459 — — 12,096 (1,969 ) (7) Net derivative assets and liabilities: Interest rate contracts 25 424 — (244 ) — — 205 220 Commodity contracts 4 (126 ) — 91 2 — (29 ) (26 ) Equity contracts (17 ) (104 ) — (69 ) 7 (45 ) (228 ) (175 ) Foreign exchange contracts (26 ) 10 — 6 — — (10 ) 17 Credit contracts 35 5 — 5 — — 45 10 Total derivative contracts 21 209 — (211 ) 9 (45 ) (17 ) 46 (9) Equity securities: Nonmarketable 5,468 1,650 — (1 ) 5 (12 ) 7,110 1,650 Total equity securities 5,468 1,650 — (1 ) 5 (12 ) 7,110 1,650 (10) Other liabilities (2 ) — — — — — (2 ) — (7) (1) See Table 16.8 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.8 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019 . Table 16.8: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2019 (in millions) Purchases Sales Issuances Settlements Net Six months ended June 30, 2019 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — (2 ) (2 ) Collateralized loan obligations 174 (152 ) — (5 ) 17 Corporate debt securities 11 (4 ) — — 7 Other trading debt securities — — — — — Total trading debt securities 185 (156 ) — (7 ) 22 Available-for-sale debt securities: Securities of U.S. states and political subdivisions — — 55 (65 ) (10 ) Mortgage-backed securities: Residential — — — — — Commercial — — — — — Total mortgage-backed securities — — — — — Corporate debt securities 11 — — (2 ) 9 Collateralized loan and other debt obligations — — — (154 ) (154 ) Asset-backed securities: Other asset-backed securities — (5 ) 123 (165 ) (47 ) Total asset-backed securities — (5 ) 123 (165 ) (47 ) Total available-for-sale debt securities 11 (5 ) 178 (386 ) (202 ) Mortgage loans held for sale 46 (140 ) 100 (94 ) (88 ) Loans held for sale 12 (2 ) — (2 ) 8 Loans 2 — 5 (50 ) (43 ) Mortgage servicing rights (residential) (1) — (282 ) 741 — 459 Net derivative assets and liabilities: Interest rate contracts — — — (244 ) (244 ) Commodity contracts — — — 91 91 Equity contracts — — — (69 ) (69 ) Foreign exchange contracts — — — 6 6 Credit contracts 8 (3 ) — — 5 Total derivative contracts 8 (3 ) — (216 ) (211 ) Equity securities: Nonmarketable — (1 ) — — (1 ) Total equity securities — (1 ) — — (1 ) Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2018 , are presented in Table 16.9 . Table 16.9: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2018 Balance, beginning of period Total net gains (losses) included in Purchases, sales, issuances and settlements, net (1) Net unrealized gains (losses) included in income related to assets and liabilities held at period end (in millions) Net income Other compre- hensive income Transfers into Level 3 (2) Transfers out of Level 3 (3) Balance, end of period (4) Six months ended June 30, 2018 Trading debt securities: Securities of U.S. states and $ 3 — — — — — 3 — Collateralized loan obligations 354 (4 ) — (59 ) — — 291 — Corporate debt securities 31 — — 6 — (1 ) 36 — Other trading debt securities 19 (2 ) — — — — 17 — Total trading debt securities 407 (6 ) — (53 ) — (1 ) 347 — (5) Available-for-sale debt securities: Securities of U.S. states and political subdivisions 925 5 (2 ) (90 ) — (279 ) 559 — Mortgage-backed securities: Residential 1 — (1 ) — — — — — Commercial 75 1 (2 ) (21 ) — — 53 — Total mortgage-backed securities 76 1 (3 ) (21 ) — — 53 — Corporate debt securities 407 2 4 30 — — 443 — Collateralized loan and other debt obligations 1,020 11 53 (47 ) — — 1,037 — Asset-backed securities: Other asset-backed securities 566 8 (8 ) (165 ) — — 401 — Total asset-backed securities 566 8 (8 ) (165 ) — — 401 — Total available-for-sale debt securities 2,994 27 44 (293 ) — (279 ) 2,493 — (6) Mortgage loans held for sale 998 (34 ) — (12 ) 40 (6 ) 986 (32 ) (7) Loans held for sale 14 1 — (16 ) 21 — 20 — Loans 376 (1 ) — (54 ) — — 321 (7 ) (7) Mortgage servicing rights (residential) (8) 13,625 732 — 1,054 — — 15,411 1,675 (7) Net derivative assets and liabilities: Interest rate contracts 71 (408 ) — 296 — — (41 ) (94 ) Commodity contracts 19 30 — (26 ) 3 — 26 22 Equity contracts (511 ) 57 — 64 — 51 (339 ) 80 Foreign exchange contracts 7 (25 ) — 3 — — (15 ) (17 ) Credit contracts 36 (4 ) — (8 ) — — 24 (8 ) Total derivative contracts (378 ) (350 ) — 329 3 51 (345 ) (17 ) (9) Equity securities: Nonmarketable 5,203 693 — (96 ) 10 (4 ) 5,806 687 Total equity securities 5,203 693 — (96 ) 10 (4 ) 5,806 687 (10) Other liabilities (3 ) 1 — — — — (2 ) — (7) (1) See Table 16.10 for detail. (2) All assets and liabilities transferred into level 3 were previously classified within level 2. (3) All assets and liabilities transferred out of level 3 are classified as level 2. (4) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time. (5) Included in net gains (losses) from trading activities in the income statement. (6) Included in net gains (losses) on debt securities in the income statement. (7) Included in mortgage banking and other noninterest income in the income statement. (8) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). (9) Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement. (10) Included in net gains (losses) from equity securities in the income statement. (continued on following page) (continued from previous page) Table 16.10 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2018 . Table 16.10: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2018 (in millions) Purchases Sales Issuances Settlements Net Six months ended June 30, 2018 Trading debt securities: Securities of U.S. states and political subdivisions $ — — — — — Collateralized loan obligations 271 (230 ) — (100 ) (59 ) Corporate debt securities 8 (2 ) — — 6 Other trading debt securities — — — — — Total trading debt securities 279 (232 ) — (100 ) (53 ) Available-for-sale debt securities: Securities of U.S. states and political subdivisions — (4 ) 10 (96 ) (90 ) Mortgage-backed securities: Residential — — — — — Commercial — — — (21 ) (21 ) Total mortgage-backed securities — — — (21 ) (21 ) Corporate debt securities 31 — — (1 ) 30 Collateralized loan and other debt obligations — — — (47 ) (47 ) Asset-backed securities: Other asset-backed securities — (8 ) 58 (215 ) (165 ) Total asset-backed securities — (8 ) 58 (215 ) (165 ) Total available-for-sale debt securities 31 (12 ) 68 (380 ) (293 ) Mortgage loans held for sale 47 (151 ) 167 (75 ) (12 ) Loans held for sale — (16 ) — — (16 ) Loans 1 — 8 (63 ) (54 ) Mortgage servicing rights (residential) (1) — (5 ) 1,059 — 1,054 Net derivative assets and liabilities: Interest rate contracts — — — 296 296 Commodity contracts — — — (26 ) (26 ) Equity contracts — — — 64 64 Foreign exchange contracts — — — 3 3 Credit contracts 8 (4 ) — (12 ) (8 ) Total derivative contracts 8 (4 ) — 325 329 Equity securities: Nonmarketable — (17 ) — (79 ) (96 ) Total equity securities — (17 ) — (79 ) (96 ) Other liabilities — — — — — (1) For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities). |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantitative Information about Valuation Techniques and Unobservable Inputs | Table 16.11 and Table 16.12 provide quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets and liabilities measured at fair value on a recurring basis for which we use an internal model. The significant unobservable inputs for Level 3 assets and liabilities that are valued using fair values obtained from third party vendors are not included in the table, as the specific inputs applied are not provided by the vendor. In addition, the table excludes the valuation techniques and significant unobservable inputs for certain classes of Level 3 assets and liabilities measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 assets and liabilities. We made this determination based upon an evaluation of each class, which considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs. For information on how changes in significant unobservable inputs affect the fair values of Level 3 assets and liabilities, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K. Table 16.11 : Valuation Techniques – Recurring Basis – June 30, 2019 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) June 30, 2019 Trading and available-for-sale debt securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 353 Discounted cash flow Discount rate 1.5 - 6.2 % 3.0 38 Vendor priced Collateralized loan and other debt obligations (2) 249 Market comparable pricing Comparability adjustment (11.3 ) - 20.0 1.7 649 Vendor priced Corporate debt securities 232 Discounted cash flow Discount rate 2.0 14.9 8.5 66 Market comparable pricing Comparability adjustment (14.0 ) 14.4 (2.8 ) 129 Vendor priced Asset-backed securities: Diversified payment rights (3) 132 Discounted cash flow Discount rate 2.5 - 4.9 3.4 Other commercial and consumer 194 (4) Discounted cash flow Discount rate 3.9 - 4.8 4.0 Weighted average life 1.3 - 1.9 yrs 1.8 15 Vendor priced Mortgage loans held for sale (residential) 1,101 Discounted cash flow Default rate 0.0 - 18.4 % 0.8 Discount rate 3.0 - 6.3 4.6 Loss severity 0.0 - 46.4 25.0 Prepayment rate 4.3 - 14.4 6.1 14 Market comparable pricing Comparability adjustment (56.3 ) - (25.0 ) (40.9 ) Loans 202 (5) Discounted cash flow Discount rate 3.9 - 4.4 4.1 Prepayment rate 4.4 - 100.0 85.6 Loss severity 0.0 - 34.8 12.0 Mortgage servicing rights (residential) 12,096 Discounted cash flow Cost to service per loan (6) $ 63 - 482 104 Discount rate 6.5 - 13.2 % 7.4 Prepayment rate (7) 10.6 - 24.6 12.2 Net derivative assets and (liabilities): Interest rate contracts 111 Discounted cash flow Default rate 0.0 - 5.0 2.0 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 25.0 15.3 Interest rate contracts: derivative loan commitments 94 Discounted cash flow Fall-out factor 1.0 - 99.0 19.5 Initial-value servicing (40.5 ) - 67.1 bps 12.3 Equity contracts 146 Discounted cash flow Conversion factor (8.9 ) - 0.0 % (8.3 ) Weighted average life 1.0 - 3.5 yrs 2.0 (374 ) Option model Correlation factor (77.0 ) - 98.5 % 63.9 Volatility factor 6.5 - 105.2 24.1 Credit contracts 2 Market comparable pricing Comparability adjustment (48.3 ) - 29.6 (6.9 ) 43 Option model Credit spread 0.1 - 21.4 0.9 Loss severity 13.0 - 60.0 45.6 Nonmarketable equity securities 7,110 Market comparable pricing Comparability adjustment (21.7 ) - (6.3 ) (16.6 ) Insignificant Level 3 assets, net of liabilities 26 (8) Total level 3 assets, net of liabilities $ 22,628 (9) (1) Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. (2) Includes $649 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) Predominantly consists of investments in asset-backed securities that are revolving in nature, for which the timing of advances and repayments of principal are uncertain. (5) Consists of reverse mortgage loans. (6) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $63 - $208 . (7) Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior. (8) 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 mortgage-backed securities, other trading positions, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and foreign exchange contracts. (9) Consists of total Level 3 assets of $24.9 billion and total Level 3 liabilities of $2.3 billion , before netting of derivative balances. Table 16.12 : Valuation Techniques – Recurring Basis – Dece mber 31, 2018 ($ in millions, except cost to service amounts) Fair Value Level 3 Valuation Technique(s) Significant Unobservable Input Range of Inputs Weighted Average (1) December 31, 2018 Trading and available-for-sale debt securities: Securities of U.S. states and political subdivisions: Government, healthcare and other revenue bonds $ 404 Discounted cash flow Discount rate 2.1 - 6.4 % 3.4 43 Vendor priced Collateralized loan and other debt obligations (2) 298 Market comparable pricing Comparability adjustment (13.5 ) - 22.1 3.2 739 Vendor priced Corporate debt securities 220 Discounted cash flow Discount rate 4.0 11.7 8.5 56 Market comparable pricing Comparability adjustment (11.3 ) 16.6 (1.4 ) 128 Vendor priced Asset-backed securities: Diversified payment rights (3) 171 Discounted cash flow Discount rate 3.4 - 6.2 4.4 Other commercial and consumer 198 (4) Discounted cash flow Discount rate 4.6 - 5.2 4.7 Weighted average life 1.1 - 1.5 yrs 1.1 20 Vendor priced Mortgage loans held for sale (residential) 982 Discounted cash flow Default rate 0.0 - 15.6 % 0.8 Discount rate 1.1 - 6.6 5.5 Loss severity — - 43.3 23.4 Prepayment rate 3.2 - 13.4 4.6 15 Market comparable pricing Comparability adjustment (56.3 ) - (6.3 ) (36.3 ) Loans 244 (5) Discounted cash flow Discount rate 3.4 - 6.4 4.2 Prepayment rate 2.9 - 100.0 87.2 Loss severity 0.0 - 34.8 10.2 Mortgage servicing rights (residential) 14,649 Discounted cash flow Cost to service per loan (6) $ 62 - 507 106 Discount rate 7.1 - 15.3 % 8.1 Prepayment rate (7) 9.0 - 23.5 9.9 Net derivative assets and (liabilities): Interest rate contracts (35 ) Discounted cash flow Default rate 0.0 - 5.0 2.0 Loss severity 50.0 - 50.0 50.0 Prepayment rate 2.8 - 25.0 13.8 Interest rate contracts: derivative loan commitments 60 Discounted cash flow Fall-out factor 1.0 - 99.0 19.4 Initial-value servicing (36.6 ) - 91.7 bps 18.5 Equity contracts 104 Discounted cash flow Conversion factor (9.3 ) - 0.0 % (7.8 ) Weighted average life 1.0 - 3.0 yrs 1.8 (121 ) Option model Correlation factor (77.0 ) - 99.0 % 21.6 Volatility factor 6.5 - 100.0 21.8 Credit contracts 3 Market comparable pricing Comparability adjustment (15.5 ) - 40.0 3.5 32 Option model Credit spread 0.9 - 21.5 1.3 Loss severity 13.0 - 60.0 45.2 Nonmarketable equity securities 5,468 Market comparable pricing Comparability adjustment (20.6 ) - (4.3 ) (15.8 ) Insignificant Level 3 assets, net of liabilities 93 (8) Total level 3 assets, net of liabilities $ 23,771 (9) (1) Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments. (2) Includes $800 million of collateralized debt obligations. (3) Securities backed by specified sources of current and future receivables generated from foreign originators. (4) Predominantly consists of investments in asset-backed securities that are revolving in nature, for which the timing of advances and repayments of principal are uncertain. (5) Consists of reverse mortgage loans. (6) The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $62 - $204 . (7) Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior. (8) 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 mortgage-backed securities, other trading positions, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and foreign exchange contracts. (9) Consists of total Level 3 assets of $25.3 billion and total Level 3 liabilities of $1.6 billion , before netting of derivative balances. |
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis | Table 16.1 3 provides the fair value hierarchy and fair value at the date of the nonrecurring fair value adjustment for all assets that were still held as of June 30, 2019 and December 31, 2018 , and for which a nonrecurring fair value adjustment was recorded during the six months ended June 30, 2019 and year ended December 31, 2018 . Table 16.13 : Fair Value on a Nonrecurring Basis June 30, 2019 December 31, 2018 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Mortgage loans held for sale (LOCOM) (1) $ — 1,865 3,148 5,013 — 1,213 1,233 2,446 Loans held for sale — 26 — 26 — 313 — 313 Loans: Commercial — 215 — 215 — 339 — 339 Consumer — 164 1 165 — 346 1 347 Total loans (2) — 379 1 380 — 685 1 686 Nonmarketable equity securities (3) — 812 83 895 — 774 157 931 Other assets (4) — 153 — 153 — 149 6 155 Total assets at fair value on a nonrecurring basis $ — 3,235 3,232 6,467 — 3,134 1,397 4,531 (1) Consists of commercial mortgages and residential real estate 1-4 family first mortgage loans. (2) Represents the carrying value of loans for which nonrecurring adjustments are based on the appraised value of the collateral. (3) Consists of certain nonmarketable equity securities that are measured at fair value on a nonrecurring basis, including observable price adjustments for nonmarketable equity securities carried under the measurement alternative. (4) Includes the fair value of foreclosed real estate, other collateral owned and operating lease assets. |
Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis | Table 16.14 presents the increase (decrease) in value of certain assets held at the end of the respective reporting periods presented for which a nonrecurring fair value adjustment was recognized during the periods presented. Table 16.14: Change in Value of Assets with Nonrecurring Fair Value Adjustment Six months ended June 30, (in millions) 2019 2018 Mortgage loans held for sale (LOCOM) $ 18 13 Loans held for sale (2 ) (78 ) Loans: Commercial (106 ) (138 ) Consumer (121 ) (185 ) Total loans (1) (227 ) (323 ) Nonmarketable equity securities (2) 264 (17 ) Other assets (3) (29 ) (30 ) Total $ 24 (435 ) (1) Represents write-downs of loans based on the appraised value of the collateral. (2) Includes impairment losses for nonmarketable equity securities accounted for under the equity method and measurement alternative. Also includes observable price adjustments for nonmarketable equity securities accounted for under the measurement alternative. (3) Includes the losses on foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Quantitative Information about Valuation Techniques and Unobservable Inputs | Table 16.15 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets that are measured at fair value on a nonrecurring basis using an internal model. The table is limited to financial instruments that had nonrecurring fair value adjustments during the periods presented. We have excluded from the table valuation techniques and significant unobservable inputs for certain classes of Level 3 assets measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 nonrecurring measurements. We made this determination based upon an evaluation of each class that considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs. Table 16.15: Valuation Techniques – Nonrecurring Basis ($ in millions) Fair Value Level 3 Valuation Technique(s) (1) Significant Unobservable Inputs (1) Range of inputs Weighted Average (2) June 30, 2019 Residential mortgage loans held for sale (LOCOM) $ 3,148 (3) Discounted cash flow Default rate (4) 0.3 — 5.7 % 1.4 % Discount rate 1.5 — 9.5 4.8 Loss severity 0.5 — 62.3 24.7 Prepayment rate (5) 5.1 — 100.0 21.6 Nonmarketable equity securities — Discounted cash flow Discount rate — — — — Insignificant level 3 assets 84 Total $ 3,232 December 31, 2018 Residential mortgage loans held for sale (LOCOM) $ 1,233 (3) Discounted cash flow Default rate (4) 0.2 — 2.3 % 1.4 % Discount rate 1.5 — 8.5 4.0 Loss severity 0.5 — 66.0 1.7 Prepayment rate (5) 3.5 — 100.0 46.5 Nonmarketable equity securities 7 Discounted cash flow Discount rate 10.5 — 10.5 10.5 Insignificant level 3 assets 157 Total $ 1,397 (1) Refer to the narrative following Table 16.1 2 for a definition of the valuation technique(s) and significant unobservable inputs. (2) For residential MLHFS, weighted averages are calculated using the outstanding unpaid principal balance of the loans. (3) Consists of approximately $1.3 billion and $1.2 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at June 30, 2019 , and December 31, 2018 , respectively, and $1.8 billion and $27 million , respectively, of other mortgage loans that are not government insured/guaranteed. (4) Applies only to non-government insured/guaranteed loans. (5) Includes the impact on prepayment rate of expected defaults for government insured/guaranteed loans, which impact the frequency and timing of early resolution of loans. |
Fair Value Option, Carrying Amount | Table 16.16 reflects differences between the fair value carrying amount of the assets for which we have elected the fair value option and the contractual aggregate unpaid principal amount at maturity. Table 16.16: Fair Value Option June 30, 2019 December 31, 2018 (in millions) Fair value carrying amount Aggregate unpaid principal Fair value carrying amount less aggregate unpaid principal Fair value carrying amount Aggregate unpaid principal Fair value carrying amount less aggregate unpaid principal Mortgage loans held for sale: Total loans $ 16,343 15,906 437 11,771 11,573 198 Nonaccrual loans 130 155 (25 ) 127 158 (31 ) Loans 90 days or more past due and still accruing 8 10 (2 ) 7 9 (2 ) Loans held for sale: Total loans 1,118 1,166 (48 ) 1,469 1,536 (67 ) Nonaccrual loans 57 65 (8 ) 21 32 (11 ) Loans: Total loans 202 231 (29 ) 244 274 (30 ) Nonaccrual loans 150 179 (29 ) 179 208 (29 ) |
Fair Value Option, Gains and Losses | The changes in fair value related to initial measurement and subsequent changes in fair value included in earnings for these assets measured at fair value are shown in Table 16.17 by income statement line item. Amounts recorded as interest income are excluded from Table 16.17 . Table 16.17: Fair Value Option – Changes in Fair Value Included in Earnings 2019 2018 (in millions) Mortgage banking noninterest income Net gains (losses) from trading activities Other noninterest income Mortgage banking noninterest income Net gains (losses) from trading activities Other noninterest income Quarter ended June 30, Mortgage loans held for sale $ 379 — — 114 — — Loans held for sale — (4 ) — — 9 — Loans — — 1 — — — Other interests held (1) — (1 ) — — (1 ) — Six months ended June 30, Mortgage loans held for sale $ 593 — — 55 — — Loans held for sale — 10 1 — 15 — Loans — — 1 — — (1 ) Other interests held (1) — (2 ) — — (2 ) — (1) Includes retained interests in securitizations. |
Fair Value Option, Instrument Specific Credit Risk | Table 16.18 shows the estimated gains and losses from earnings attributable to instrument-specific credit risk related to assets accounted for under the fair value option. Table 16.18: Fair Value Option – Gains/Losses Attributable to Instrument-Specific Credit Risk Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Gains (losses) attributable to instrument-specific credit risk: Mortgage loans held for sale $ 16 (2 ) 12 (1 ) Loans held for sale (3 ) 9 11 15 Total $ 13 7 23 14 |
Fair Value, Estimates for Financial Instruments Excluding those Recorded at Fair Value on a Recurring Basis | Table 16.19 is a summary of fair value estimates for financial instruments, excluding financial instruments recorded at fair value on a recurring basis, as they are included within Table 16.2 in this Note. The carrying amounts in the following table are recorded on the balance sheet under the indicated captions. We have not included assets and liabilities that are not financial instruments in our disclosure, such as the value of the long-term relationships with our deposit, credit card and trust customers, amortized MSRs, premises and equipment, goodwill and other intangibles, deferred taxes and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Table 16.19: Fair Value Estimates for Financial Instruments Estimated fair value (in millions) Carrying amount Level 1 Level 2 Level 3 Total June 30, 2019 Financial assets Cash and due from banks (1) $ 20,880 20,880 — — 20,880 Interest-earning deposits with banks (1) 143,547 143,312 235 — 143,547 Federal funds sold and securities purchased under resale agreements (1) 112,119 — 112,119 — 112,119 Held-to-maturity debt securities 145,876 45,336 101,943 585 147,864 Mortgage loans held for sale 6,655 — 3,548 4,102 7,650 Loans held for sale 63 — 63 — 63 Loans, net (2) 920,977 — 49,839 878,601 928,440 Nonmarketable equity securities (cost method) 5,622 — — 5,654 5,654 Total financial assets $ 1,355,739 209,528 267,747 888,942 1,366,217 Financial liabilities Deposits (3) $ 139,343 — 106,653 32,549 139,202 Short-term borrowings 115,344 — 115,345 — 115,345 Long-term debt (4) 241,441 — 242,529 1,626 244,155 Total financial liabilities $ 496,128 — 464,527 34,175 498,702 December 31, 2018 Financial assets Cash and due from banks (1) $ 23,551 23,551 — — 23,551 Interest-earning deposits with banks (1) 149,736 149,542 194 — 149,736 Federal funds sold and securities purchased under resale agreements (1) 80,207 — 80,207 — 80,207 Held-to-maturity debt securities 144,788 44,339 97,275 501 142,115 Mortgage loans held for sale 3,355 — 2,129 1,233 3,362 Loans held for sale 572 — 572 — 572 Loans, net (2) 923,703 — 45,190 872,725 917,915 Nonmarketable equity securities (cost method) 5,643 — — 5,675 5,675 Total financial assets $ 1,331,555 217,432 225,567 880,134 1,323,133 Financial liabilities Deposits (3) $ 130,645 — 107,448 22,641 130,089 Short-term borrowings 105,787 — 105,789 — 105,789 Long-term debt (4) 229,008 — 225,904 2,230 228,134 Total financial liabilities $ 465,440 — 439,141 24,871 464,012 (1) Amounts consist of financial instruments for which carrying value approximates fair value. (2) Excludes lease financing with a carrying amount of $19.0 billion and $19.7 billion at June 30, 2019 , and December 31, 2018 , respectively. (3) Excludes deposit liabilities with no defined or contractual maturity of $1.1 trillion and $1.2 trillion at June 30, 2019 and December 31, 2018 , respectively. (4) Excludes capital lease obligations under capital leases of $35 million and $36 million at June 30, 2019 , and December 31, 2018 , respectively. |
Preferred Stock (Tables)
Preferred Stock (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Preferred Stock [Abstract] | |
Preferred Stock Shares | Our total authorized, issued and outstanding preferred stock is presented in the following two tables along with the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock. Table 17.1: Preferred Stock Shares June 30, 2019 December 31, 2018 Liquidation preference per share Shares authorized and designated Liquidation preference per share Shares authorized and designated DEP Shares Dividend Equalization Preferred Shares (DEP) $ 10 97,000 $ 10 97,000 Series I Floating Class A Preferred Stock (1) 100,000 25,010 100,000 25,010 Series K Floating Non-Cumulative Perpetual Class A Preferred Stock (2) 1,000 3,500,000 1,000 3,500,000 Series L 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 1,000 4,025,000 1,000 4,025,000 Series N 5.20% Non-Cumulative Perpetual Class A Preferred Stock 25,000 30,000 25,000 30,000 Series O 5.125% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 Series P 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 26,400 25,000 26,400 Series Q 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 69,000 25,000 69,000 Series R 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 34,500 25,000 34,500 Series S 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series T 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 32,200 25,000 32,200 Series U 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 25,000 80,000 25,000 80,000 Series V 6.00% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series W 5.70% Non-Cumulative Perpetual Class A Preferred Stock 25,000 40,000 25,000 40,000 Series X 5.50% Non-Cumulative Perpetual Class A Preferred Stock 25,000 46,000 25,000 46,000 Series Y 5.625% Non-Cumulative Perpetual Class A Preferred Stock 25,000 27,600 25,000 27,600 ESOP Cumulative Convertible Preferred Stock (3) — 1,213,418 — 1,406,460 Total 9,393,728 9,586,770 (1) Series I preferred stock issuance relates to trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. This issuance has a floating interest rate that is the greater of three-month LIBOR plus 0.93% and 5.56975%. (2) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. (3) See the ESOP Cumulative Convertible Preferred Stock section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock. Table 17.2: Preferred Stock – Shares Issued and Carrying Value June 30, 2019 December 31, 2018 (in millions, except shares) Shares issued and outstanding Liquidation preference value Carrying value Discount Shares issued and outstanding Liquidation preference value Carrying value Discount DEP Shares Dividend Equalization Preferred Shares (DEP) 96,546 $ — — — 96,546 $ — — — Series I (1)(2) Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 — Series K (1)(3) Floating Non-Cumulative Perpetual Class A Preferred Stock 3,352,000 3,352 2,876 476 3,352,000 3,352 2,876 476 Series L (1) 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock 3,967,995 3,968 3,200 768 3,968,000 3,968 3,200 768 Series N (1) 5.20% Non-Cumulative Perpetual Class A Preferred Stock 30,000 750 750 — 30,000 750 750 — Series O (1) 5.125% Non-Cumulative Perpetual Class A Preferred Stock 26,000 650 650 — 26,000 650 650 — Series P (1) 5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 625 625 — 25,000 625 625 — Series Q (1) 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 69,000 1,725 1,725 — 69,000 1,725 1,725 — Series R (1) 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 33,600 840 840 — 33,600 840 840 — Series S (1) 5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series T (1) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 32,000 800 800 — 32,000 800 800 — Series U (1) 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock 80,000 2,000 2,000 — 80,000 2,000 2,000 — Series V (1) 6.00% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series W (1) 5.70% Non-Cumulative Perpetual Class A Preferred Stock 40,000 1,000 1,000 — 40,000 1,000 1,000 — Series X (1) 5.50% Non-Cumulative Perpetual Class A Preferred Stock 46,000 1,150 1,150 — 46,000 1,150 1,150 — Series Y (1) 5.625% Non-Cumulative Perpetual Class A Preferred Stock 27,600 690 690 — 27,600 690 690 — ESOP Cumulative Convertible Preferred Stock 1,213,418 1,214 1,214 — 1,406,460 1,407 1,407 — Total 9,184,169 $ 24,265 23,021 1,244 9,377,216 $ 24,458 23,214 1,244 (1) Preferred shares qualify as Tier 1 capital. (2) Floating rate for Preferred Stock, Series I, is the greater of three-month LIBOR plus 0.93% and 5.56975%. (3) Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%. |
ESOP Preferred Stock | Table 17.3: ESOP Preferred Stock Shares issued and outstanding Carrying value Adjustable dividend rate (in millions, except shares) Jun 30, Dec 31, Jun 30, Dec 31, Minimum Maximum ESOP Preferred Stock $1,000 liquidation preference per share 2018 336,945 336,945 337 337 7.00 % 8.00 % 2017 222,210 222,210 222 222 7.00 8.00 2016 227,450 233,835 228 234 9.30 10.30 2015 116,784 144,338 117 144 8.90 9.90 2014 136,151 174,151 136 174 8.70 9.70 2013 97,948 133,948 98 134 8.50 9.50 2012 49,134 77,634 49 78 10.00 11.00 2011 26,796 61,796 27 62 9.00 10.00 2010 (1) — 21,603 — 22 9.50 10.50 Total ESOP Preferred Stock (2) 1,213,418 1,406,460 $ 1,214 1,407 Unearned ESOP shares (3) $ (1,292 ) (1,502 ) (1) In April 2019, all of the 2010 ESOP Preferred Stock was converted into common stock. (2) At June 30, 2019 and December 31, 2018, additional paid-in capital included $78 million and $95 million , respectively, related to ESOP preferred stock. (3) We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Table 18.1 presents our revenue by operating segment. The “Other” segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for WIM customers served through Community Banking distribution channels. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 22 (Operating Segments). We adopted ASU 2014-09 – Revenue from Contracts with Customers on a modified retrospective basis as of January 1, 2018. For details on the impact of the adoption of this ASU, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K. Table 18.1 : Revenue by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Net interest income (1) $ 7,066 7,346 4,535 4,693 1,037 1,111 (543 ) (609 ) 12,095 12,541 Noninterest income: Service charges on deposit accounts 704 632 502 530 4 5 (4 ) (4 ) 1,206 1,163 Trust and investment fees: Brokerage advisory, commissions and other fees 480 465 74 78 2,248 2,284 (484 ) (473 ) 2,318 2,354 Trust and investment management 199 220 117 110 687 731 (208 ) (226 ) 795 835 Investment banking (18 ) — 475 485 (1 ) 1 (1 ) — 455 486 Total trust and investment fees 661 685 666 673 2,934 3,016 (693 ) (699 ) 3,568 3,675 Card fees 929 904 95 96 2 2 (1 ) (1 ) 1,025 1,001 Other fees: Lending related charges and fees (1)(2) 65 69 284 307 2 2 (2 ) (2 ) 349 376 Cash network fees 117 118 — 2 — — — — 117 120 Commercial real estate brokerage commissions — — 105 109 — — — — 105 109 Wire transfer and other remittance fees 71 67 49 53 2 2 (1 ) (1 ) 121 121 All other fees(1) 82 94 26 25 — 1 — — 108 120 Total other fees 335 348 464 496 4 5 (3 ) (3 ) 800 846 Mortgage banking (1) 655 695 104 75 (3 ) (2 ) 2 2 758 770 Insurance (1) 11 16 75 78 17 18 (10 ) (10 ) 93 102 Net gains (losses) from trading activities (1) (11 ) 24 226 154 13 13 1 — 229 191 Net gains (losses) on debt securities (1) 15 (2 ) 5 42 — 1 — — 20 41 Net gains from equity securities (1) 471 409 116 89 35 (203 ) — — 622 295 Lease income (1) — — 424 443 — — — — 424 443 Other income of the segment (1) 969 749 (147 ) (172 ) 7 (15 ) (85 ) (77 ) 744 485 Total noninterest income 4,739 4,460 2,530 2,504 3,013 2,840 (793 ) (792 ) 9,489 9,012 Revenue $ 11,805 11,806 7,065 7,197 4,050 3,951 (1,336 ) (1,401 ) 21,584 21,553 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Net interest income (1) $ 14,314 14,541 9,069 9,225 2,138 2,223 (1,115 ) (1,210 ) 24,406 24,779 Noninterest income: Service charges on deposit accounts 1,314 1,271 985 1,064 8 9 (7 ) (8 ) 2,300 2,336 Trust and investment fees: Brokerage advisory, commissions and other fees 929 943 152 145 4,372 4,628 (942 ) (959 ) 4,511 4,757 Trust and investment management 409 453 231 223 1,363 1,474 (422 ) (465 ) 1,581 1,685 Investment banking (38 ) (10 ) 887 925 4 1 (4 ) — 849 916 Total trust and investment fees 1,300 1,386 1,270 1,293 5,739 6,103 (1,368 ) (1,424 ) 6,941 7,358 Card fees 1,787 1,725 181 183 3 3 (2 ) (2 ) 1,969 1,909 Other fees: Lending related charges and fees (1)(2) 130 145 566 611 4 4 (4 ) (4 ) 696 756 Cash network fees 226 243 — 3 — — — — 226 246 Commercial real estate brokerage commissions — — 186 194 — — — — 186 194 Wire transfer and other remittance fees 135 130 97 105 4 4 (2 ) (2 ) 234 237 All other fees (1) 176 157 52 55 — 1 — — 228 213 Total other fees 667 675 901 968 8 9 (6 ) (6 ) 1,570 1,646 Mortgage banking (1) 1,296 1,537 172 168 (6 ) (5 ) 4 4 1,466 1,704 Insurance (1) 22 44 153 157 34 36 (20 ) (21 ) 189 216 Net gains (losses) from trading activities (1) (6 ) 23 559 379 32 32 1 — 586 434 Net gains on debt securities (1) 52 (2 ) 93 43 — 1 — — 145 42 Net gains from equity securities (1) 1,072 1,093 193 182 171 (197 ) — — 1,436 1,078 Lease income (1) — — 867 898 — — — — 867 898 Other income of the segment (1) 1,737 1,343 (267 ) (84 ) 2 (21 ) (154 ) (151 ) 1,318 1,087 Total noninterest income 9,241 9,095 5,107 5,251 5,991 5,970 (1,552 ) (1,608 ) 18,787 18,708 Revenue $ 23,555 23,636 14,176 14,476 8,129 8,193 (2,667 ) (2,818 ) 43,193 43,487 (1) Most of our revenue is not within the scope of Accounting Standards Update (ASU) 2014-09 – Revenue from Contracts with Customers , and additional details are included in other footnotes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives. (2) Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees.” |
Disaggregation of Revenue [Table Text Block] | Table 18.4 presents our trust and investment management fees by operating segment. Table 18.4 : Trust and Investment Management Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Investment management fees $ (1 ) — — — 501 531 — — 500 531 Trust fees 200 232 83 82 175 185 (208 ) (226 ) 250 273 Other revenue — (12 ) 34 28 11 15 — — 45 31 Trust and investment management fees $ 199 220 117 110 687 731 (208 ) (226 ) 795 835 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Investment management fees $ — — — — 978 1,065 — — 978 1,065 Trust fees 409 453 165 168 343 373 (422 ) (465 ) 495 529 Other revenue — — 66 55 42 36 — — 108 91 Trust and investment management fees $ 409 453 231 223 1,363 1,474 (422 ) (465 ) 1,581 1,685 Table 18.5 presents our card fees by operating segment. Table 18.5 : Card Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Credit card interchange and network revenues (1) $ 209 211 95 96 2 2 (1 ) (1 ) 305 308 Debit card interchange and network revenues 546 525 — — — — — — 546 525 Late fees, cash advance fees, balance transfer fees, and annual fees 174 168 — — — — — — 174 168 Card fees (1) $ 929 904 95 96 2 2 (1 ) (1 ) 1,025 1,001 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Credit card interchange and network revenues (1) $ 398 382 181 183 3 3 (2 ) (2 ) 580 566 Debit card interchange and network revenues 1,053 1,004 — — — — — — 1,053 1,004 Late fees, cash advance fees, balance transfer fees, and annual fees 336 339 — — — — — — 336 339 Card fees (1) $ 1,787 1,725 181 183 3 3 (2 ) (2 ) 1,969 1,909 (1) The cost of credit card rewards and rebates of $375 million and $729 million for the second quarter and first half of 2019 , respectively, and $335 million and $678 million for the second quarter and first half of 2018 , respectively, are presented net against the related revenues. Table 18.3 presents our brokerage advisory, commissions and other fees by operating segment. Table 18.3 : Brokerage Advisory, Commissions and Other Fees by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Asset-based revenue (1) $ 369 365 — — 1,698 1,722 (369 ) (365 ) 1,698 1,722 Transactional revenue 94 83 10 16 390 400 (98 ) (92 ) 396 407 Other revenue 17 17 64 62 160 162 (17 ) (16 ) 224 225 Brokerage advisory, commissions and other fees $ 480 465 74 78 2,248 2,284 (484 ) (473 ) 2,318 2,354 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Asset-based revenue (1) $ 712 736 — — 3,278 3,465 (712 ) (736 ) 3,278 3,465 Transactional revenue 183 176 26 28 777 839 (196 ) (192 ) 790 851 Other revenue 34 31 126 117 317 324 (34 ) (31 ) 443 441 Brokerage advisory, commissions and other fees $ 929 943 152 145 4,372 4,628 (942 ) (959 ) 4,511 4,757 (1) We earned trailing commissions of $289 million and $569 million for the second quarter and first half of 2019 , respectively, and $321 million and $652 million for the second quarter and first half of 2018 , respectively. Table 18.2 presents our service charges on deposit accounts by operating segment. Table 18.2 : Service Charges on Deposit Accounts by Operating Segment Quarter ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Overdraft fees $ 496 416 1 1 1 1 — — 498 418 Account charges 208 216 501 529 3 4 (4 ) (4 ) 708 745 Service charges on deposit accounts $ 704 632 502 530 4 5 (4 ) (4 ) 1,206 1,163 Six months ended June 30, Community Banking Wholesale Banking Wealth and Investment Management Other Consolidated (in millions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Overdraft fees $ 913 828 2 3 1 1 — — 916 832 Account charges 401 443 983 1,061 7 8 (7 ) (8 ) 1,384 1,504 Service charges on deposit accounts $ 1,314 1,271 985 1,064 8 9 (7 ) (8 ) 2,300 2,336 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Net Periodic Benefit Cost | Table 19.1 presents the components of net periodic benefit cost. Table 19.1: Net Periodic Benefit Cost 2019 2018 Pension benefits Pension benefits (in millions) Qualified Non-qualified Other benefits Qualified Non-qualified Other benefits Quarter ended June 30, Service cost $ 3 — — 2 — — Interest cost (1) 104 5 6 98 6 5 Expected return on plan assets (1) (142 ) — (7 ) (161 ) — (8 ) Amortization of net actuarial loss (gain) (1) 37 3 (4 ) 33 3 (5 ) Amortization of prior service credit (1) — — (3 ) — — (2 ) Settlement loss (1) — — — — — — Net periodic benefit cost (income) $ 2 8 (8 ) (28 ) 9 (10 ) Six months ended June 30, Service cost $ 6 — — 3 — — Interest cost (1) 209 11 11 196 11 10 Expected return on plan assets (1) (284 ) — (14 ) (321 ) — (15 ) Amortization of net actuarial loss (gain) (1) 74 5 (8 ) 66 6 (9 ) Amortization of prior service credit (1) — — (5 ) — — (5 ) Settlement loss (1) — 2 — — 3 — Net periodic benefit cost (income) $ 5 18 (16 ) (56 ) 20 (19 ) (1) Balances are reported in other noninterest expense on the consolidated statement of income. |
Earnings and Dividends Per Co_2
Earnings and Dividends Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Calculations | Table 20.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 20.1: Earnings Per Common Share Calculations Quarter ended June 30, Six months ended June 30, (in millions, except per share amounts) 2019 2018 2019 2018 Wells Fargo net income $ 6,206 5,186 $ 12,066 10,322 Less: Preferred stock dividends and other 358 394 711 797 Wells Fargo net income applicable to common stock (numerator) $ 5,848 4,792 $ 11,355 9,525 Earnings per common share Average common shares outstanding (denominator) 4,469.4 4,865.8 4,510.2 4,875.7 Per share $ 1.31 0.98 $ 2.52 1.95 Diluted earnings per common share Average common shares outstanding 4,469.4 4,865.8 4,510.2 4,875.7 Add: Stock options (1) 0.1 8.2 1.4 9.0 Restricted share rights (1) 25.5 20.7 28.5 25.4 Warrants (1) — 5.1 — 6.0 Diluted average common shares outstanding (denominator) 4,495.0 4,899.8 4,540.1 4,916.1 Per share $ 1.30 0.98 $ 2.50 1.94 (1) Calculated using the treasury stock method. |
Outstanding Anti-Dilutive Securities | Table 20.2 presents the outstanding Series L convertible preferred stock and options to purchase shares of common stock that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share. Table 20.2: Outstanding Anti-Dilutive Securities Weighted-average shares Quarter ended June 30, Six months ended June 30, (in millions) 2019 2018 2019 2018 Series L Convertible Preferred Stock (1) 25.3 25.3 25.3 25.3 Stock options (2) — — — 0.5 (1) Calculated using the if-converted method. (2) Calculated using the treasury stock method. |
Dividends Declared Per Common Share | Table 20.3 presents dividends declared per common share. Table 20.3: Dividends Declared Per Common Share Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 Per common share $ 0.450 0.390 0.900 0.780 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Cumulative Other Comprehensive Income Balances [Abstract] | |
Summary of Other Comprehensive Income | Table 21.1 provides the components of OCI, reclassifications to net income by income statement line item, and the related tax effects. Table 21.1: Summary of Other Comprehensive Income Quarter ended June 30, Six months ended June 30, 2019 2018 2019 2018 (in millions) Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Before tax Tax effect Net of tax Debt securities: Net unrealized gains (losses) arising during the period $ 1,709 (422 ) 1,287 (617 ) 152 (465 ) 4,540 (1,117 ) 3,423 (4,060 ) 1,000 (3,060 ) Reclassification of net (gains) losses to net income: Interest income on debt securities (1) 61 (15 ) 46 90 (22 ) 68 106 (26 ) 80 159 (39 ) 120 Net gains on debt securities (20 ) 5 (15 ) (41 ) 10 (31 ) (145 ) 36 (109 ) (42 ) 10 (32 ) Other noninterest income (2 ) 1 (1 ) — — — (3 ) 1 (2 ) — — — Subtotal reclassifications to net income 39 (9 ) 30 49 (12 ) 37 (42 ) 11 (31 ) 117 (29 ) 88 Net change 1,748 (431 ) 1,317 (568 ) 140 (428 ) 4,498 (1,106 ) 3,392 (3,943 ) 971 (2,972 ) Derivative and hedging activities: Fair Value Hedges: Change in fair value of excluded components on fair value hedges (2) 56 (14 ) 42 (150 ) 37 (113 ) 30 (7 ) 23 (126 ) 31 (95 ) Cash Flow Hedges: Net unrealized gains (losses) arising during the period on cash flow hedges 1 — 1 — — — (8 ) 2 (6 ) (266 ) 66 (200 ) Reclassification of net losses to net income on cash flow hedges: Interest income on loans 77 (19 ) 58 77 (19 ) 58 155 (38 ) 117 137 (34 ) 103 Interest expense on long-term debt 2 (1 ) 1 — — — 3 (1 ) 2 — — — Subtotal reclassifications to net income 79 (20 ) 59 77 (19 ) 58 158 (39 ) 119 137 (34 ) 103 Net change 136 (34 ) 102 (73 ) 18 (55 ) 180 (44 ) 136 (255 ) 63 (192 ) Defined benefit plans adjustments: Net actuarial and prior service gains (losses) arising during the period — — — — — — (4 ) 1 (3 ) 6 (2 ) 4 Reclassification of amounts to non interest expense (3): Amortization of net actuarial loss 36 (9 ) 27 31 (7 ) 24 71 (17 ) 54 63 (15 ) 48 Settlements and other (3 ) 2 (1 ) (2 ) — (2 ) (3 ) 2 (1 ) (2 ) 1 (1 ) Subtotal reclassifications to non interest expense 33 (7 ) 26 29 (7 ) 22 68 (15 ) 53 61 (14 ) 47 Net change 33 (7 ) 26 29 (7 ) 22 64 (14 ) 50 67 (16 ) 51 Foreign currency translation adjustments: Net unrealized gains (losses) arising during the period 14 (1 ) 13 (83 ) 3 (80 ) 56 (3 ) 53 (85 ) (2 ) (87 ) Net change 14 (1 ) 13 (83 ) 3 (80 ) 56 (3 ) 53 (85 ) (2 ) (87 ) Other comprehensive income (loss) $ 1,931 (473 ) 1,458 (695 ) 154 (541 ) 4,798 (1,167 ) 3,631 (4,216 ) 1,016 (3,200 ) Less: Other comprehensive loss from noncontrolling interests, net of tax — (1 ) — (1 ) Wells Fargo other comprehensive income (loss), net of tax $ 1,458 (540 ) 3,631 (3,199 ) (1) Represents net unrealized gains and losses amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio. (2) Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of effectiveness recorded in other comprehensive income. (3) These items are included in the computation of net periodic benefit cost (see Note 19 (Employee Benefits) for more information). |
Cumulative OCI Balances | Table 21.2: Cumulative OCI Balances (in millions) Debt securities Derivative and hedging activities Defined benefit plans adjustments Foreign currency translation adjustments Cumulative other compre- hensive income Quarter ended June 30, 2019 Balance, beginning of period $ (566 ) (651 ) (2,272 ) (193 ) (3,682 ) Net unrealized gains arising during the period 1,287 43 — 13 1,343 Amounts reclassified from accumulated other comprehensive income 30 59 26 — 115 Net change 1,317 102 26 13 1,458 Less: Other comprehensive income from noncontrolling interests — — — — — Balance, end of period $ 751 (549 ) (2,246 ) (180 ) (2,224 ) Quarter ended June 30, 2018 Balance, beginning of period $ (2,491 ) (555 ) (1,779 ) (96 ) (4,921 ) Net unrealized losses arising during the period (465 ) (113 ) — (80 ) (658 ) Amounts reclassified from accumulated other comprehensive income 37 58 22 — 117 Net change (428 ) (55 ) 22 (80 ) (541 ) Less: Other comprehensive loss from noncontrolling interests — — — (1 ) (1 ) Balance, end of period $ (2,919 ) (610 ) (1,757 ) (175 ) (5,461 ) Six months ended June 30, 2019 Balance, beginning of period $ (3,122 ) (685 ) (2,296 ) (233 ) (6,336 ) Transition adjustment (1) 481 — — — 481 Balance, January 1, 2019 (2,641 ) (685 ) (2,296 ) (233 ) (5,855 ) Net unrealized gains (losses) arising during the period 3,423 17 (3 ) 53 3,490 Amounts reclassified from accumulated other comprehensive income (31 ) 119 53 — 141 Net change 3,392 136 50 53 3,631 Less: Other comprehensive income from noncontrolling interests — — — — — Balance, end of period $ 751 (549 ) (2,246 ) (180 ) (2,224 ) Six months ended June 30, 2018 Balance, beginning of period $ 171 (418 ) (1,808 ) (89 ) (2,144 ) Transition adjustment (2) (118 ) — — — (118 ) Balance, January 1, 2018 53 (418 ) (1,808 ) (89 ) (2,262 ) Net unrealized gains (losses) arising during the period (3,060 ) (295 ) 4 (87 ) (3,438 ) Amounts reclassified from accumulated other comprehensive income 88 103 47 — 238 Net change (2,972 ) (192 ) 51 (87 ) (3,200 ) Less: Other comprehensive loss from noncontrolling interests — — — (1 ) (1 ) Balance, end of period $ (2,919 ) (610 ) (1,757 ) (175 ) (5,461 ) (1) The transition adjustment relates to the adoption of ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . See Note 1 (Summary of Significant Accounting Policies) for more information. (2) The transition adjustment relates to the adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . See Note 1 (Summary of Significant Accounting Policies) for more information. |
Regulatory and Agency Capital_2
Regulatory and Agency Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory And Agency Capital Requirements | Table 23.1 presents regulatory capital information for Wells Fargo & Company and the Bank using Basel III, which increased minimum required capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. We must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach in the assessment of our capital adequacy. The Standardized Approach applies assigned risk weights to broad risk categories, while the calculation of risk-weighted assets (RWAs) under the Advanced Approach differs by requiring applicable banks to utilize a risk-sensitive methodology, which relies upon the use of internal credit models, and includes an operational risk component. The Basel III capital rules are being phased-in effective January 1, 2014, through the end of 2021. Beginning January 1, 2018, the requirements for calculating CET1 and tier 1 capital, along with RWAs, became fully phased-in. Accordingly, the information presented reflects fully phased-in CET1 capital, tier 1 capital, and RWAs, but reflects total capital still in accordance with Transition Requirements . The Bank is an approved seller/servicer of mortgage loans and is required to maintain minimum levels of shareholders’ equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At June 30, 2019 , the Bank met these requirements. Other subsidiaries, including the Company’s insurance and broker-dealer subsidiaries, are also subject to various minimum capital levels, as defined by applicable industry regulations. The minimum capital levels for these subsidiaries, and related restrictions, are not significant to our consolidated operations. Table 23.1: Regulatory Capital Information Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 (in millions, except ratios) Advanced Approach Standardized Approach Advanced Approach Standardized Advanced Approach Standardized Advanced Approach Standardized Regulatory capital: Common equity tier 1 $ 149,183 149,183 146,363 146,363 146,505 146,505 142,685 142,685 Tier 1 170,675 170,675 167,866 167,866 146,505 146,505 142,685 142,685 Total 200,810 208,817 198,798 207,041 159,090 166,648 155,558 163,380 Assets: Risk-weighted assets $ 1,182,838 1,246,683 1,177,350 1,247,210 1,059,642 1,144,959 1,058,653 1,154,182 Adjusted average assets (1) 1,871,806 1,871,806 1,850,299 1,850,299 1,654,994 1,654,994 1,652,009 1,652,009 Regulatory capital ratios: Common equity tier 1 capital 12.61 % 11.97 * 12.43 11.74 * 13.83 12.80 * 13.48 12.36 * Tier 1 capital 14.43 13.69 * 14.26 13.46 * 13.83 12.80 * 13.48 12.36 * Total capital 16.98 16.75 * 16.89 16.60 * 15.01 14.56 * 14.69 14.16 * Tier 1 leverage (1) 9.12 9.12 9.07 9.07 8.85 8.85 8.64 8.64 Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Supplementary leverage: (2) Total leverage exposure $ 2,202,607 2,174,564 1,964,107 1,957,276 Supplementary leverage ratio 7.75 % 7.72 7.46 7.29 *Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches. (1) The leverage ratio consists of Tier 1 capital divided by total average assets, excluding goodwill and certain other items. (2) The supplementary leverage ratio consists of Tier 1 capital divided by total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures. |
Minimum Required Regulatory Capital Ratios (Transition Requirements) [Table Text Block] | Table 23.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of June 30, 2019 , and December 31, 2018 . Table 23.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1) Wells Fargo & Company Wells Fargo Bank, N.A. June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Regulatory capital ratios: Common equity tier 1 capital 9.000 % 7.875 7.000 6.375 Tier 1 capital 10.500 9.375 8.500 7.875 Total capital 12.500 11.375 10.500 9.875 Tier 1 leverage 4.000 4.000 4.000 4.000 Supplementary leverage 5.000 5.000 6.000 6.000 (1) At June 30, 2019 , under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 2.500% and a global systemically important bank (G-SIB) surcharge of 2.000% . Only the 2.500% capital conservation buffer applies to the Bank at June 30, 2019 . |
Operating Segments (Tables)
Operating Segments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Operating Segments | Table 22.1 presents our results by operating segment. Table 22.1: Operating Segments Community Wholesale Banking Wealth and Investment Management Other (1) Consolidated Company (income/expense in millions, average balances in billions) 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Quarter ended June 30, Net interest income (2) $ 7,066 7,346 4,535 4,693 1,037 1,111 (543 ) (609 ) 12,095 12,541 Provision (reversal of provision) for credit losses 479 484 28 (36 ) (1 ) (2 ) (3 ) 6 503 452 Noninterest income 4,739 4,460 2,530 2,504 3,013 2,840 (793 ) (792 ) 9,489 9,012 Noninterest expense 7,212 7,290 3,882 4,219 3,246 3,361 (891 ) (888 ) 13,449 13,982 Income (loss) before income tax expense (benefit) 4,114 4,032 3,155 3,014 805 592 (442 ) (519 ) 7,632 7,119 Income tax expense (benefit) 838 1,413 365 379 201 147 (110 ) (129 ) 1,294 1,810 Net income (loss) before noncontrolling interests 3,276 2,619 2,790 2,635 604 445 (332 ) (390 ) 6,338 5,309 Less: Net income from noncontrolling interests 129 123 1 — 2 — — — 132 123 Net income (loss) (3) $ 3,147 2,496 2,789 2,635 602 445 (332 ) (390 ) 6,206 5,186 Average loans $ 457.7 463.8 474.0 464.7 75.0 74.7 (59.2 ) (59.1 ) 947.5 944.1 Average assets 1,024.8 1,034.3 852.2 826.4 83.8 84.0 (60.2 ) (59.8 ) 1,900.6 1,884.9 Average deposits 777.6 760.6 410.4 414.0 143.5 167.1 (62.5 ) (70.4 ) 1,269.0 1,271.3 Six months ended June 30, Net interest income (2) $ 14,314 14,541 9,069 9,225 2,138 2,223 (1,115 ) (1,210 ) 24,406 24,779 Provision (reversal of provision) for credit losses 1,189 702 162 (56 ) 3 (8 ) (6 ) 5 1,348 643 Noninterest income 9,241 9,095 5,107 5,251 5,991 5,970 (1,552 ) (1,608 ) 18,787 18,708 Noninterest expense 14,901 15,992 7,720 8,197 6,549 6,651 (1,805 ) (1,816 ) 27,365 29,024 Income (loss) before income tax expense (benefit) 7,465 6,942 6,294 6,335 1,577 1,550 (856 ) (1,007 ) 14,480 13,820 Income tax expense (benefit) 1,262 2,222 734 827 393 386 (214 ) (251 ) 2,175 3,184 Net income (loss) before noncontrolling interests 6,203 4,720 5,560 5,508 1,184 1,164 (642 ) (756 ) 12,305 10,636 Less: Net income (loss) from noncontrolling interests 233 311 1 (2 ) 5 5 — — 239 314 Net income (loss) (3) $ 5,970 4,409 5,559 5,510 1,179 1,159 (642 ) (756 ) 12,066 10,322 Average loans $ 457.9 467.1 475.2 464.9 74.7 74.3 (59.1 ) (58.8 ) 948.7 947.5 Average assets 1,020.1 1,048.0 848.4 827.8 83.5 84.1 (60.1 ) (59.6 ) 1,891.9 1,900.3 Average deposits 771.6 754.1 410.1 429.9 148.3 172.5 (64.5 ) (72.3 ) 1,265.5 1,284.2 (1) Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. (2) Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments. (3) Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
Supplemental cash flow information - Noncash activities | ||||
Trading debt securities retained from securitization of MLHFS | $ 19,131 | $ 17,674 | ||
Transfers from loans to MLHFS | 4,419 | 3,053 | ||
Transfers from loans to LHFS | 92 | 2,149 | ||
Transfers from available-for-sale debt securities to held-to-maturity debt securities | 6,071 | 10,371 | ||
Operating lease ROU assets acquired with operating lease liabilities | 5,302 | 0 | ||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Operating lease ROU assets (lessee) | 4,776 | $ 0 | ||
Lease liabilities | $ 5,302 | |||
Direct financing lease, risk strategy, residual asset | Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. Our risk to declines in residual values is further mitigated by the diversity of leased assets in our lease portfolio. In addition, we have several channels for re-leasing or marketing those assets. | |||
Operating lease ROU assets acquired with operating lease liabilities | $ 402 | |||
Private Forward Repurchase Transaction [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Private forward repurchase contract | $ 0 | $ 1,000 | ||
Accounting Standards Update 2017-08 [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Cumulative effect of new accounting principle | $ (111) | |||
Accounting Standards Update 2017-08 [Member] | Cumulative other comprehensive income [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Cumulative effect of new accounting principle | $ 481 | |||
Accounting Standards Update 2017-08 [Member] | Retained earnings [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Cumulative effect of new accounting principle | (592) | |||
Accounting Standards Update 2016-02 [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Operating lease ROU assets (lessee) | 4,900 | |||
Lease liabilities | 5,600 | |||
Accounting Standards Update 2016-02 [Member] | Retained earnings [Member] | ||||
Summary Of Significant Accounting Policies Textuals [Abstract] | ||||
Cumulative effect of new accounting principle | $ 100 |
Business Combinations (Details)
Business Combinations (Details) $ in Billions | Jul. 01, 2019USD ($) | Jun. 30, 2019USD ($)business |
Business Acquisitions and DIvestitures [Line Items] | ||
Business acquisition, number completed during period | business | 0 | |
Pending Acquisition [Member] | ||
Business Acquisitions and DIvestitures [Line Items] | ||
Business acquisition, number completed during period | business | 0 | |
Institutional Retirement & Trust Business (IRT) [Member] | ||
Business Acquisitions and DIvestitures [Line Items] | ||
Subsequent Event, Date | Jul. 1, 2019 | |
Carrying Amount Of Assets Under Administration | $ | $ 918 | |
Institutional Retirement & Trust Business (IRT) [Member] | Subsequent Event [Member] | ||
Business Acquisitions and DIvestitures [Line Items] | ||
Gain (Loss) on Disposition of Business | $ | $ 1.1 | |
Maximum Duration Of Contract To Administer Client Assets | 24 months |
Cash, Loan and Dividend Restr_3
Cash, Loan and Dividend Restrictions (Details) - USD ($) $ / shares in Units, $ in Millions | Sep. 01, 2019 | Jul. 23, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Average Cash Reserve Deposit Required And Made Federal Reserve Banks | $ 11,179 | $ 12,428 | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.450 | $ 0.390 | $ 0.900 | $ 0.780 | |||
Reserve Balance for Non-US Central Banks [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Restricted Cash Equivalents | $ 556 | $ 556 | 517 | ||||
Segregated for benefit brokerage customers under federal and other brokerage regulations [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Restricted Cash Equivalents | 956 | 956 | 1,135 | ||||
Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Restricted Cash Equivalents | 19 | 19 | $ 147 | ||||
Bank Subsidiaries [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | 7,600 | 7,600 | |||||
Nonbank Subsidiaries [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 25,100 | $ 25,100 | |||||
Subsequent Event [Member] | |||||||
Cash, Loan and Dividend Restrictions [Line Items] | |||||||
Common Stock, Dividends, Per Share, Declared | $ 0.51 | ||||||
Dividends Payable, Date Declared | Jul. 23, 2019 | ||||||
Dividends Payable, Date to be Paid | Sep. 1, 2019 |
Trading Activities, Assets and
Trading Activities, Assets and Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Trading Assets and Liabilities [Line Items] | |||
Trading debt securities | $ 70,208 | $ 69,989 | |
Trading equity securities | 23,327 | 19,449 | |
Loans held for sale | [1] | 1,181 | 2,041 |
Derivative assets | 40,050 | 34,560 | |
Net amounts in consolidated balance sheet, assets | 13,162 | 10,770 | |
Total trading assets | 106,509 | 100,316 | |
Gross trading derivative liabilities | 38,116 | 32,047 | |
Net amounts in consolidated balance sheet, liabilities | 8,399 | 8,499 | |
Total trading liabilities | 22,996 | 27,259 | |
Held for trading [Member] | |||
Trading Assets and Liabilities [Line Items] | |||
Loans held for sale | 1,118 | 1,469 | |
Derivative assets | 34,683 | 29,216 | |
Netting, derivative assets (1) | (22,827) | (19,807) | |
Net amounts in consolidated balance sheet, assets | 11,856 | 9,409 | |
Short sales | 15,955 | 19,720 | |
Gross trading derivative liabilities | 33,458 | 28,717 | |
Netting, derivative liabilities (1) | (26,417) | (21,178) | |
Net amounts in consolidated balance sheet, liabilities | $ 7,041 | $ 7,539 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Trading Activities, Net Interes
Trading Activities, Net Interest Income and Net Gains (Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net Interest Income and Net Gains (Losses) on Trading Activities [Line Items] | ||||
Equity Securities, interest income | $ 236 | $ 221 | $ 446 | $ 452 |
Loans held for sale, interest income | 20 | 48 | 44 | 72 |
Total interest income | 16,986 | 16,015 | 33,989 | 31,362 |
Net interest income | 12,095 | 12,541 | 24,406 | 24,779 |
Debt securities, net gains (losses) | 401 | (140) | 1,089 | (639) |
Equity securities, net gains (losses) | 1,236 | (635) | 3,303 | (1,104) |
Loans held for sale, net gain (losses) | (4) | 7 | 10 | 15 |
Derivatives (3) | (1,404) | 959 | (3,816) | 2,162 |
Net gains from trading activities | 229 | 191 | 586 | 434 |
Total trading-related net interest and noninterest income | 1,005 | 879 | 2,157 | 1,774 |
Held for trading [Member] | ||||
Net Interest Income and Net Gains (Losses) on Trading Activities [Line Items] | ||||
Debt Securities, interest income | 740 | 689 | 1,533 | 1,320 |
Equity Securities, interest income | 143 | 128 | 258 | 269 |
Loans held for sale, interest income | 20 | 15 | 43 | 23 |
Total interest income | 903 | 832 | 1,834 | 1,612 |
Total interest expense | 127 | 144 | 263 | 272 |
Net interest income | $ 776 | $ 688 | $ 1,571 | $ 1,340 |
AFS and HTM Debt Securities, Ma
AFS and HTM Debt Securities, Major Categories (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities: | ||
Amortized Cost | $ 263,458 | $ 272,471 |
Gross unrealized gains | 3,098 | 1,659 |
Gross unrealized losses | (573) | (4,218) |
Available-for-sale, at fair value | 265,983 | 269,912 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, Amortized Cost | 145,876 | 144,788 |
Gross unrealized gains | 2,068 | 146 |
Gross unrealized losses | (80) | (2,819) |
Held-to-maturity, at fair value | 147,864 | 142,115 |
Total AFS and HTM Debt securities: | ||
Amortized Cost | 409,334 | 417,259 |
Gross unrealized gains | 5,166 | 1,805 |
Gross unrealized losses | (653) | (7,037) |
Fair value | 413,847 | 412,027 |
Held-to-maturity, at fair value | 147,864 | 142,115 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 15,334 | 13,451 |
Gross unrealized gains | 2 | 3 |
Gross unrealized losses | (17) | (106) |
Available-for-sale, at fair value | 15,319 | 13,348 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, Amortized Cost | 44,766 | 44,751 |
Gross unrealized gains | 574 | 4 |
Gross unrealized losses | (4) | (415) |
Held-to-maturity, at fair value | 45,336 | 44,340 |
Total AFS and HTM Debt securities: | ||
Held-to-maturity, at fair value | 45,336 | 44,340 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 44,205 | 48,994 |
Gross unrealized gains | 968 | 716 |
Gross unrealized losses | (78) | (446) |
Available-for-sale, at fair value | 45,095 | 49,264 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, Amortized Cost | 7,948 | 6,286 |
Gross unrealized gains | 182 | 30 |
Gross unrealized losses | (5) | (116) |
Held-to-maturity, at fair value | 8,125 | 6,200 |
Total AFS and HTM Debt securities: | ||
Held-to-maturity, at fair value | 8,125 | 6,200 |
Securities of U.S. states and political subdivisions [Member] | Nontaxable Preferred Debt Securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 5,800 | 6,300 |
Available-for-sale, at fair value | 5,800 | 6,300 |
Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 159,930 | 162,819 |
Gross unrealized gains | 1,685 | 551 |
Gross unrealized losses | (314) | (3,167) |
Available-for-sale, at fair value | 161,301 | 160,203 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 154,549 | 155,974 |
Gross unrealized gains | 1,617 | 369 |
Gross unrealized losses | (308) | (3,140) |
Available-for-sale, at fair value | 155,858 | 153,203 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, Amortized Cost | 93,105 | 93,685 |
Gross unrealized gains | 1,312 | 112 |
Gross unrealized losses | (71) | (2,288) |
Held-to-maturity, at fair value | 94,346 | 91,509 |
Total AFS and HTM Debt securities: | ||
Held-to-maturity, at fair value | 94,346 | 91,509 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 1,241 | 2,638 |
Gross unrealized gains | 23 | 142 |
Gross unrealized losses | (1) | (5) |
Available-for-sale, at fair value | 1,263 | 2,775 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 4,140 | 4,207 |
Gross unrealized gains | 45 | 40 |
Gross unrealized losses | (5) | (22) |
Available-for-sale, at fair value | 4,180 | 4,225 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 6,058 | 6,230 |
Gross unrealized gains | 208 | 131 |
Gross unrealized losses | (36) | (90) |
Available-for-sale, at fair value | 6,230 | 6,271 |
Collateralized loan obligations [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 32,944 | 35,581 |
Gross unrealized gains | 165 | 158 |
Gross unrealized losses | (114) | (396) |
Available-for-sale, at fair value | 32,995 | 35,343 |
Held-to-maturity debt securities: | ||
Held-to-maturity securities, Amortized Cost | 57 | 66 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Held-to-maturity, at fair value | 57 | 66 |
Total AFS and HTM Debt securities: | ||
Held-to-maturity, at fair value | 57 | 66 |
Collateralized debt obligations [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 521 | 662 |
Available-for-sale, at fair value | 649 | 800 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Amortized Cost | 4,987 | 5,396 |
Gross unrealized gains | 70 | 100 |
Gross unrealized losses | (14) | (13) |
Available-for-sale, at fair value | $ 5,043 | $ 5,483 |
AFS and HTM Debt Securities, Gr
AFS and HTM Debt Securities, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | $ (117) | $ (598) |
Less than 12 months, Fair value, available-for-sale | 27,542 | 54,683 |
12 months or more, Gross unrealized losses, available-for-sale | (456) | (3,620) |
12 months or more, Fair value, available-for-sale | 48,241 | 128,631 |
Total, Gross unrealized losses, available-for-sale | (573) | (4,218) |
Total Fair Value, available for sale | 75,783 | 183,314 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (1) | (12) |
Less than 12 months, Fair value, held-to-maturity | 15 | 6,128 |
12 months or more, Gross unrealized losses, held-to-maturity | (79) | (2,807) |
12 months or more, Fair value, held-to-maturity | 19,519 | 122,816 |
Total, Gross unrealized losses, held-to-maturity | (80) | (2,819) |
Total, Fair value, held-to-maturity | 19,534 | 128,944 |
Total AFS and HTM debt securities: | ||
Less than 12 months, Gross unrealized losses, investment securities | (118) | (610) |
Less than 12 months, Fair value, investment securities | 27,557 | 60,811 |
12 months or more, Gross unrealized losses, investment securities | (535) | (6,427) |
12 months or more, Fair value, investment securities | 67,760 | 251,447 |
Total, Gross unrealized losses, investment securities | (653) | (7,037) |
Total, Fair value, investment securities | 95,317 | 312,258 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2) | (1) |
Less than 12 months, Fair value, available-for-sale | 5,780 | 498 |
12 months or more, Gross unrealized losses, available-for-sale | (15) | (105) |
12 months or more, Fair value, available-for-sale | 5,511 | 6,204 |
Total, Gross unrealized losses, available-for-sale | (17) | (106) |
Total Fair Value, available for sale | 11,291 | 6,702 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | (3) |
Less than 12 months, Fair value, held-to-maturity | 0 | 895 |
12 months or more, Gross unrealized losses, held-to-maturity | (4) | (412) |
12 months or more, Fair value, held-to-maturity | 1,613 | 41,083 |
Total, Gross unrealized losses, held-to-maturity | (4) | (415) |
Total, Fair value, held-to-maturity | 1,613 | 41,978 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (32) | (73) |
Less than 12 months, Fair value, available-for-sale | 5,003 | 9,746 |
12 months or more, Gross unrealized losses, available-for-sale | (46) | (373) |
12 months or more, Fair value, available-for-sale | 2,696 | 9,017 |
Total, Gross unrealized losses, available-for-sale | (78) | (446) |
Total Fair Value, available for sale | 7,699 | 18,763 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | (4) |
Less than 12 months, Fair value, held-to-maturity | 0 | 598 |
12 months or more, Gross unrealized losses, held-to-maturity | (5) | (112) |
12 months or more, Fair value, held-to-maturity | 514 | 3,992 |
Total, Gross unrealized losses, held-to-maturity | (5) | (116) |
Total, Fair value, held-to-maturity | 514 | 4,590 |
Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (6) | (65) |
Less than 12 months, Fair value, available-for-sale | 2,220 | 13,349 |
12 months or more, Gross unrealized losses, available-for-sale | (308) | (3,102) |
12 months or more, Fair value, available-for-sale | 32,268 | 112,400 |
Total, Gross unrealized losses, available-for-sale | (314) | (3,167) |
Total Fair Value, available for sale | 34,488 | 125,749 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (2) | (42) |
Less than 12 months, Fair value, available-for-sale | 1,203 | 10,979 |
12 months or more, Gross unrealized losses, available-for-sale | (306) | (3,098) |
12 months or more, Fair value, available-for-sale | 32,179 | 112,252 |
Total, Gross unrealized losses, available-for-sale | (308) | (3,140) |
Total Fair Value, available for sale | 33,382 | 123,231 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | (1) | (5) |
Less than 12 months, Fair value, held-to-maturity | 15 | 4,635 |
12 months or more, Gross unrealized losses, held-to-maturity | (70) | (2,283) |
12 months or more, Fair value, held-to-maturity | 17,392 | 77,741 |
Total, Gross unrealized losses, held-to-maturity | (71) | (2,288) |
Total, Fair value, held-to-maturity | 17,407 | 82,376 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (1) | (3) |
Less than 12 months, Fair value, available-for-sale | 180 | 398 |
12 months or more, Gross unrealized losses, available-for-sale | 0 | (2) |
12 months or more, Fair value, available-for-sale | 0 | 69 |
Total, Gross unrealized losses, available-for-sale | (1) | (5) |
Total Fair Value, available for sale | 180 | 467 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (3) | (20) |
Less than 12 months, Fair value, available-for-sale | 837 | 1,972 |
12 months or more, Gross unrealized losses, available-for-sale | (2) | (2) |
12 months or more, Fair value, available-for-sale | 89 | 79 |
Total, Gross unrealized losses, available-for-sale | (5) | (22) |
Total Fair Value, available for sale | 926 | 2,051 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (11) | (64) |
Less than 12 months, Fair value, available-for-sale | 470 | 1,965 |
12 months or more, Gross unrealized losses, available-for-sale | (25) | (26) |
12 months or more, Fair value, available-for-sale | 281 | 298 |
Total, Gross unrealized losses, available-for-sale | (36) | (90) |
Total Fair Value, available for sale | 751 | 2,263 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (58) | (388) |
Less than 12 months, Fair value, available-for-sale | 12,847 | 28,306 |
12 months or more, Gross unrealized losses, available-for-sale | (56) | (8) |
12 months or more, Fair value, available-for-sale | 7,239 | 553 |
Total, Gross unrealized losses, available-for-sale | (114) | (396) |
Total Fair Value, available for sale | 20,086 | 28,859 |
Held-to-maturity debt securities: | ||
Less than 12 months, Gross unrealized losses, held-to-maturity | 0 | 0 |
Less than 12 months, Fair value, held-to-maturity | 0 | 0 |
12 months or more, Gross unrealized losses, held-to-maturity | 0 | 0 |
12 months or more, Fair value, held-to-maturity | 0 | 0 |
Total, Gross unrealized losses, held-to-maturity | 0 | 0 |
Total, Fair value, held-to-maturity | 0 | 0 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Less than 12 months, Gross unrealized losses, available-for-sale | (8) | (7) |
Less than 12 months, Fair value, available-for-sale | 1,222 | 819 |
12 months or more, Gross unrealized losses, available-for-sale | (6) | (6) |
12 months or more, Fair value, available-for-sale | 246 | 159 |
Total, Gross unrealized losses, available-for-sale | (14) | (13) |
Total Fair Value, available for sale | $ 1,468 | $ 978 |
AFS and HTM Debt Securities, Un
AFS and HTM Debt Securities, Unrealized Loss Position, by Credit Rating (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities: | ||
Gross unrealized losses | $ (573) | $ (4,218) |
Available-for-sale, at fair value | 265,983 | 269,912 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (80) | (2,819) |
Fair value | 147,864 | 142,115 |
Total AFS and HTM debt securities: | ||
Gross unrealized losses | (653) | (7,037) |
Fair value | 413,847 | 412,027 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (17) | (106) |
Available-for-sale, at fair value | 15,319 | 13,348 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (4) | (415) |
Fair value | 45,336 | 44,340 |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (78) | (446) |
Available-for-sale, at fair value | 45,095 | 49,264 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (5) | (116) |
Fair value | 8,125 | 6,200 |
Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (314) | (3,167) |
Available-for-sale, at fair value | 161,301 | 160,203 |
Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (308) | (3,140) |
Available-for-sale, at fair value | 155,858 | 153,203 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (71) | (2,288) |
Fair value | 94,346 | 91,509 |
Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (5) |
Available-for-sale, at fair value | 1,263 | 2,775 |
Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (5) | (22) |
Available-for-sale, at fair value | 4,180 | 4,225 |
Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (36) | (90) |
Available-for-sale, at fair value | 6,230 | 6,271 |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (114) | (396) |
Available-for-sale, at fair value | 32,995 | 35,343 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 57 | 66 |
Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (14) | (13) |
Available-for-sale, at fair value | 5,043 | 5,483 |
Unrated Investment Grade Securities [Member] | ||
Total AFS and HTM debt securities: | ||
Gross unrealized losses | (9) | (20) |
Fair value | 2,300 | 5,200 |
Investment grade [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (527) | (4,113) |
Available-for-sale, at fair value | 74,753 | 181,050 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (79) | (2,809) |
Fair value | 19,501 | 128,545 |
Total AFS and HTM debt securities: | ||
Gross unrealized losses | (606) | (6,922) |
Fair value | 94,254 | 309,595 |
Investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (17) | (106) |
Available-for-sale, at fair value | 11,291 | 6,702 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (4) | (415) |
Fair value | 1,613 | 41,978 |
Investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (69) | (425) |
Available-for-sale, at fair value | 7,480 | 18,447 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (5) | (116) |
Fair value | 514 | 4,590 |
Investment grade [Member] | Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (313) | (3,162) |
Available-for-sale, at fair value | 34,477 | 125,525 |
Investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (308) | (3,140) |
Available-for-sale, at fair value | 33,382 | 123,231 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (70) | (2,278) |
Fair value | 17,374 | 81,977 |
Investment grade [Member] | Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (2) |
Available-for-sale, at fair value | 180 | 295 |
Investment grade [Member] | Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (4) | (20) |
Available-for-sale, at fair value | 915 | 1,999 |
Investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (6) | (17) |
Available-for-sale, at fair value | 299 | 791 |
Investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (114) | (396) |
Available-for-sale, at fair value | 20,086 | 28,859 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Investment grade [Member] | Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (8) | (7) |
Available-for-sale, at fair value | 1,120 | 726 |
Non-investment grade [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (46) | (105) |
Available-for-sale, at fair value | 1,030 | 2,264 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (1) | (10) |
Fair value | 33 | 399 |
Total AFS and HTM debt securities: | ||
Gross unrealized losses | (47) | (115) |
Fair value | 1,063 | 2,663 |
Non-investment grade [Member] | Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (9) | (21) |
Available-for-sale, at fair value | 219 | 316 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Mortgage-backed securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (5) |
Available-for-sale, at fair value | 11 | 224 |
Non-investment grade [Member] | Federal agencies [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | (1) | (10) |
Fair value | 33 | 399 |
Non-investment grade [Member] | Residential [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | (3) |
Available-for-sale, at fair value | 0 | 172 |
Non-investment grade [Member] | Commercial [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (1) | (2) |
Available-for-sale, at fair value | 11 | 52 |
Non-investment grade [Member] | Corporate debt securities [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (30) | (73) |
Available-for-sale, at fair value | 452 | 1,472 |
Non-investment grade [Member] | Collateralized loan and other debt obligations [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | 0 | 0 |
Available-for-sale, at fair value | 0 | 0 |
Held-to-maturity debt securities: | ||
Gross unrealized losses | 0 | 0 |
Fair value | 0 | 0 |
Non-investment grade [Member] | Other [Member] | ||
Available-for-sale debt securities: | ||
Gross unrealized losses | (6) | (6) |
Available-for-sale, at fair value | $ 348 | $ 252 |
AFS and HTM Debt Securities, Co
AFS and HTM Debt Securities, Contractual Maturities (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 265,983 | $ 269,912 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.73% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 8,033 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 2.38% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 18,160 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.96% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 20,546 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.75% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 219,244 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.85% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 145,876 | 144,788 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.91% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 34,757 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.08% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 11,726 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.64% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 99,393 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.24% | |
Held-to-maturity securities, fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 147,864 | 142,115 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 35,052 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 12,056 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 100,756 | |
Securities of U.S. Treasury and federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 15,319 | 13,348 |
Weighted average yield contractual maturities, Total, available-for-sale | 1.94% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 5,521 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 1.69% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 9,747 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 2.08% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 51 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 1.89% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 0.00% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 44,766 | 44,751 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 2.12% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 34,667 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 2.07% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 10,099 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 2.28% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | |
Held-to-maturity securities, fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 45,336 | 44,340 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 34,962 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 10,374 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 0 | |
Securities of U.S. states and political subdivisions [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 45,095 | 49,264 |
Weighted average yield contractual maturities, Total, available-for-sale | 4.92% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 2,016 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.34% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 5,135 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.34% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 4,322 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.54% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 33,622 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.40% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 7,948 | 6,286 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 4.97% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 75 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 6.05% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 1,570 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 4.89% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 6,303 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 4.98% | |
Held-to-maturity securities, fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 8,125 | 6,200 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 75 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 1,625 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 6,425 | |
Mortgage-backed securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 161,301 | 160,203 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.50% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 137 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.48% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,007 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.74% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 159,157 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.51% | |
Federal agencies [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 155,858 | 153,203 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.50% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 137 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.48% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,665 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.56% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 154,056 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.51% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 93,105 | 93,685 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.12% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 15 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 3.77% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 0.00% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 93,090 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 3.12% | |
Held-to-maturity securities, fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 94,346 | 91,509 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 15 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 94,331 | |
Residential [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 1,263 | 2,775 |
Weighted average yield contractual maturities, Total, available-for-sale | 2.80% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 0.00% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 1,263 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 2.80% | |
Commercial [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 4,180 | 4,225 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.71% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 0.00% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 342 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 3.61% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 3,838 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.72% | |
Corporate debt securities [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 6,230 | 6,271 |
Weighted average yield contractual maturities, Total, available-for-sale | 5.01% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 484 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 6.17% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 2,384 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.00% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 2,737 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.69% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 625 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 5.59% | |
Collateralized loan and other debt obligations [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 32,995 | 35,343 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.96% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 0 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 0.00% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 8 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 5.02% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 10,005 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 4.03% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 22,982 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.93% | |
Held-to-maturity securities: | ||
Held-to-maturity securities, Amortized Cost | $ 57 | 66 |
Weighted average yield contractual maturities, Total, held-to-maturity, cost | 3.78% | |
Due within 1 year, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1 year, held-to-maturity, cost | 0.00% | |
Due in 1-5 years, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due In 1-5 years, held-to-maturity, cost | 0.00% | |
Due in 5-10 years, Contractual maturities, held-to-maturity, cost | $ 57 | |
Percentage of weighted average yield, Due In 5-10 years, held-to-maturity, cost | 3.78% | |
Due in 10 years or more, Contractual maturities, held-to-maturity, cost | $ 0 | |
Percentage of weighted average yield, Due after 10 years, held-to-maturity, cost | 0.00% | |
Held-to-maturity securities, fair value: | ||
Contractual maturities, Total amount, held-to-maturity, fair value | $ 57 | 66 |
Due within 1 year, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 1-5 years, Contractual maturities, held-to-maturity, fair value | 0 | |
Due in 5-10 years, Contractual maturities, held-to-maturity, fair value | 57 | |
Due in 10 years or more, Contractual maturities, held-to-maturity, fair value | 0 | |
Other [Member] | ||
Available-for-sale securities: | ||
Contractual maturities, Total amount, available-for-sale | $ 5,043 | $ 5,483 |
Weighted average yield contractual maturities, Total, available-for-sale | 3.10% | |
Due within 1 year, Contractual maturities, available-for-sale | $ 12 | |
Percentage of weighted average yield, Due within 1 year, available-for-sale | 3.34% | |
Due in 1-5 years, Contractual maturities, available-for-sale | $ 749 | |
Percentage of weighted average yield, Due in 1-5 years, available-for-sale | 3.80% | |
Due in 5-10 years, Contractual maturities, available-for-sale | $ 1,424 | |
Percentage of weighted average yield, Due In 5-10 years, available-for-sale | 2.13% | |
Due in 10 years or more, Contractual maturities, available-for-sale | $ 2,858 | |
Percentage of weighted average yield, Due after 10 years, available-for-sale | 3.40% |
AFS and HTM Debt Securities, Re
AFS and HTM Debt Securities, Realized Gains and Losses (Details) - Debt securities [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Available-For-Sale Debt Securities, Realized Gain (Loss) [Abstract] | ||||
Gross realized gains | $ 29 | $ 53 | $ 202 | $ 74 |
Gross realized losses | (2) | (4) | (5) | (14) |
OTTI write-downs | (7) | (8) | (52) | (18) |
Net realized gains from available-for-sale debt securities | $ 20 | $ 41 | $ 145 | $ 42 |
AFS and HTM Debt Securities, OT
AFS and HTM Debt Securities, OTTI Included in Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Schedule Of Available-For-Sale Debt Securities [Line Items] | ||||
Other-than-temporary Impairment Loss, Debt Securities, Held-to-maturity, before Tax | $ 0 | $ 0 | ||
Debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total debt securities (1) | $ 7 | $ 8 | 52 | 18 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total debt securities (1) | 4 | 0 | 33 | 2 |
Residential [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total debt securities (1) | 0 | 1 | 0 | 2 |
Commercial [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total debt securities (1) | 3 | 7 | 17 | 14 |
Corporate debt securities [Member] | ||||
OTTI write-downs included in earnings (Abstract) | ||||
Total debt securities (1) | $ 0 | $ 0 | $ 2 | $ 0 |
AFS and HTM Debt Securities, _2
AFS and HTM Debt Securities, OTTI Debt Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 7 | $ 8 | $ 52 | $ 18 |
Total changes to OCI for non-credit-related OTTI | (1) | (11) | (1) | (4) |
Total OTTI losses recorded on debt securities | 6 | (3) | 51 | 14 |
Securities of U.S. states and political subdivisions [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 4 | 0 | 33 | 2 |
Total changes to OCI for non-credit-related OTTI | (1) | 0 | (1) | (2) |
Residential [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 0 | 1 | 0 | 2 |
Total changes to OCI for non-credit-related OTTI | 0 | 0 | (1) | (1) |
Commercial [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 3 | 7 | 17 | 14 |
Total changes to OCI for non-credit-related OTTI | 0 | (11) | 1 | (1) |
Credit-related OTTI [Member] | Debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | 7 | 8 | 23 | 17 |
Intent-to-sell OTTI [Member] | Debt securities [Member] | ||||
OTTI on debt securities (Abstract) | ||||
Total recorded as part of gross realized losses | $ 0 | $ 0 | $ 29 | $ 1 |
AFS and HTM Debt Securities, Cr
AFS and HTM Debt Securities, Credit Loss Component (Details) - Debt securities [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Credit loss recognized, beginning of period | $ 232 | $ 649 | $ 562 | $ 742 |
Additions: | ||||
For securities with initial credit impairments | 4 | 0 | 6 | 0 |
For securities with previous credit impairments | 3 | 8 | 17 | 17 |
Total additions | 7 | 8 | 23 | 17 |
Reductions: | ||||
For securities sold, matured, or intended/required to be sold | (23) | (30) | (369) | (131) |
For recoveries of previous credit impairments | 0 | (1) | 0 | (2) |
Total reductions | (23) | (31) | (369) | (133) |
Credit loss recognized, end of period | $ 216 | $ 626 | $ 216 | $ 626 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | [1] | $ 949,878 | $ 953,110 |
Deferred income as a percent of loans | 1.00% | 1.00% | |
Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 512,245 | $ 513,405 | |
Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 348,846 | 350,199 | |
Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 123,008 | 121,014 | |
Commercial real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 21,067 | 22,496 | |
Commercial lease financing receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 19,324 | 19,696 | |
Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 437,633 | 439,705 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 286,427 | 285,065 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 32,068 | 34,398 | |
Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 38,820 | 39,025 | |
Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 45,664 | 45,069 | |
Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 34,654 | 36,148 | |
Geographic Distribution, Foreign [Member] | Total Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 72,599 | 71,465 | |
Geographic Distribution, Foreign [Member] | Commercial and industrial loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 63,296 | 62,564 | |
Geographic Distribution, Foreign [Member] | Commercial real estate mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 6,801 | 6,731 | |
Geographic Distribution, Foreign [Member] | Commercial real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 1,287 | 1,011 | |
Geographic Distribution, Foreign [Member] | Commercial lease financing receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 1,215 | $ 1,159 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | $ 675 | $ 405 | $ 1,007 | $ 661 |
Sales | (688) | (382) | (1,288) | (842) |
Transfers to MLHFS/LHFS | (1,941) | (172) | (1,944) | (2,145) |
Total Commercial [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 670 | 398 | 999 | 654 |
Sales | (535) | (294) | (956) | (754) |
Transfers to MLHFS/LHFS | (89) | (100) | (92) | (520) |
Total Consumer [Member] | ||||
Loans and Allowance for Credit Losses, Significant Activity [Abstract] | ||||
Purchases | 5 | 7 | 8 | 7 |
Sales | (153) | (88) | (332) | (88) |
Transfers to MLHFS/LHFS | $ (1,852) | $ (72) | $ (1,852) | $ (1,625) |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses, Commitments to Lend (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Temporary Advance Arrangements | $ 94,000 | $ 91,000 |
Total unfunded credit commitments | 573,978 | 558,701 |
Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 353,115 | 353,876 |
Commercial and industrial loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 329,751 | 330,492 |
Commercial real estate mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 7,905 | 6,984 |
Commercial real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 15,459 | 16,400 |
Total Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 220,863 | 204,825 |
Real estate 1-4 family first mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 43,427 | 29,736 |
Real estate 1-4 family junior lien mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 37,454 | 37,719 |
Credit Card [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 113,306 | 109,840 |
Other revolving credit and installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total unfunded credit commitments | 26,676 | 27,530 |
International [Member] | Total Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Letters of Credit International | $ 1,000 | $ 919 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 10,821 | $ 11,313 | $ 10,707 | $ 11,960 | |||
Provision for credit losses | 503 | 452 | 1,348 | 643 | |||
Interest income on certain impaired loans | (39) | (43) | (78) | (86) | |||
Loan charge-offs | (1,033) | (1,059) | (2,096) | (2,215) | |||
Loan recoveries | 380 | 457 | 748 | 872 | |||
Net loan charge-offs | (653) | (602) | (1,348) | (1,343) | |||
Other | (29) | (10) | (26) | (64) | |||
Allowance for credit losses, ending balance | 10,603 | 11,110 | 10,603 | 11,110 | |||
Components: | |||||||
Allowance for loan losses | $ 9,692 | $ 9,775 | |||||
Total allowance for credit losses | $ 10,603 | $ 11,110 | $ 10,603 | $ 11,960 | $ 10,603 | 10,707 | $ 11,110 |
Net loan charge-offs (annualized) as a percentage of average total loans | 0.28% | 0.26% | 0.29% | 0.29% | |||
Allowance for loan losses as a percentage of total loans | 1.02% | 1.08% | |||||
Allowance for credit losses as a percentage of total loans | 1.12% | 1.18% | |||||
SEC Schedule, 12-09, Allowance, Loss on Finance Receivable [Member] | |||||||
Components: | |||||||
Allowance for loan losses | $ 9,692 | $ 10,193 | |||||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | |||||||
Components: | |||||||
Allowance for loan losses | 911 | 917 | |||||
Total Commercial [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | $ 6,428 | $ 6,708 | $ 6,417 | $ 6,632 | |||
Provision for credit losses | 46 | 89 | 210 | 258 | |||
Interest income on certain impaired loans | (14) | (14) | (25) | (25) | |||
Loan charge-offs | (231) | (173) | (431) | (356) | |||
Loan recoveries | 66 | 106 | 121 | 211 | |||
Net loan charge-offs | (165) | (67) | (310) | (145) | |||
Other | 3 | (5) | 6 | (9) | |||
Allowance for credit losses, ending balance | 6,298 | 6,711 | 6,298 | 6,711 | |||
Components: | |||||||
Total allowance for credit losses | 6,428 | 6,708 | 6,298 | 6,632 | 6,298 | 6,417 | 6,711 |
Commercial and industrial loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (205) | (134) | (381) | (298) | |||
Loan recoveries | 46 | 76 | 89 | 155 | |||
Commercial real estate mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (14) | (19) | (26) | (21) | |||
Loan recoveries | 10 | 19 | 16 | 36 | |||
Commercial real estate construction [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | 0 | 0 | (1) | 0 | |||
Loan recoveries | 2 | 6 | 5 | 10 | |||
Commercial lease financing receivable [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (12) | (20) | (23) | (37) | |||
Loan recoveries | 8 | 5 | 11 | 10 | |||
Total Consumer [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Allowance for credit losses, beginning balance | 4,393 | 4,605 | 4,290 | 5,328 | |||
Provision for credit losses | 457 | 363 | 1,138 | 385 | |||
Interest income on certain impaired loans | (25) | (29) | (53) | (61) | |||
Loan charge-offs | (802) | (886) | (1,665) | (1,859) | |||
Loan recoveries | 314 | 351 | 627 | 661 | |||
Net loan charge-offs | (488) | (535) | (1,038) | (1,198) | |||
Other | (32) | (5) | (32) | (55) | |||
Allowance for credit losses, ending balance | 4,305 | 4,399 | 4,305 | 4,399 | |||
Components: | |||||||
Total allowance for credit losses | 4,393 | 4,605 | 4,290 | 4,399 | $ 4,305 | $ 4,290 | $ 4,399 |
Real estate 1-4 family first mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (27) | (55) | (70) | (96) | |||
Loan recoveries | 57 | 78 | 112 | 137 | |||
Real estate 1-4 family junior lien mortgage [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (29) | (47) | (63) | (94) | |||
Loan recoveries | 48 | 60 | 91 | 115 | |||
Credit Card [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (437) | (404) | (874) | (809) | |||
Loan recoveries | 88 | 81 | 173 | 154 | |||
Automobile [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (142) | (216) | (329) | (516) | |||
Loan recoveries | 90 | 103 | 186 | 195 | |||
Other revolving credit and installment [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||||
Loan charge-offs | (167) | (164) | (329) | (344) | |||
Loan recoveries | $ 31 | $ 29 | $ 65 | $ 60 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses, Allowance Activity by Portfolio Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | $ 10,821 | $ 11,313 | $ 10,707 | $ 11,960 |
Provision for credit losses | 503 | 452 | 1,348 | 643 |
Interest income on certain impaired loans | (39) | (43) | (78) | (86) |
Loan charge-offs | (1,033) | (1,059) | (2,096) | (2,215) |
Loan recoveries | 380 | 457 | 748 | 872 |
Net loan charge-offs | (653) | (602) | (1,348) | (1,343) |
Other | (29) | (10) | (26) | (64) |
Allowance for credit losses, ending balance | 10,603 | 11,110 | 10,603 | 11,110 |
Total Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 6,428 | 6,708 | 6,417 | 6,632 |
Provision for credit losses | 46 | 89 | 210 | 258 |
Interest income on certain impaired loans | (14) | (14) | (25) | (25) |
Loan charge-offs | (231) | (173) | (431) | (356) |
Loan recoveries | 66 | 106 | 121 | 211 |
Net loan charge-offs | (165) | (67) | (310) | (145) |
Other | 3 | (5) | 6 | (9) |
Allowance for credit losses, ending balance | 6,298 | 6,711 | 6,298 | 6,711 |
Total Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Allowance for credit losses, beginning balance | 4,393 | 4,605 | 4,290 | 5,328 |
Provision for credit losses | 457 | 363 | 1,138 | 385 |
Interest income on certain impaired loans | (25) | (29) | (53) | (61) |
Loan charge-offs | (802) | (886) | (1,665) | (1,859) |
Loan recoveries | 314 | 351 | 627 | 661 |
Net loan charge-offs | (488) | (535) | (1,038) | (1,198) |
Other | (32) | (5) | (32) | (55) |
Allowance for credit losses, ending balance | $ 4,305 | $ 4,399 | $ 4,305 | $ 4,399 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses, Allowance by Credit Impairment Methodology (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | $ 10,603 | $ 10,821 | $ 10,707 | $ 11,110 | $ 11,313 | $ 11,960 | |
Loans | [1] | 949,878 | 953,110 | ||||
Total Commercial [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 6,298 | 6,428 | 6,417 | 6,711 | 6,708 | 6,632 | |
Loans | 512,245 | 513,405 | |||||
Total Consumer [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 4,305 | $ 4,393 | 4,290 | $ 4,399 | $ 4,605 | $ 5,328 | |
Loans | 437,633 | 439,705 | |||||
Non-PCI [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | 9,267 | 9,264 | |||||
Allowance for Credit Losses, Individually evaluated | 1,336 | 1,443 | |||||
Financing Receivable, Collectively evaluated | 934,616 | 931,754 | |||||
Financing Receivable, Individually evaluated | 14,088 | 16,347 | |||||
Non-PCI [Member] | Total Commercial [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | 5,831 | 5,903 | |||||
Allowance for Credit Losses, Individually evaluated | 467 | 514 | |||||
Financing Receivable, Collectively evaluated | 508,798 | 510,180 | |||||
Financing Receivable, Individually evaluated | 3,447 | 3,221 | |||||
Loans | 512,245 | 513,401 | |||||
Non-PCI [Member] | Total Consumer [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Allowance for Credit Losses, Collectively evaluated | 3,436 | 3,361 | |||||
Allowance for Credit Losses, Individually evaluated | 869 | 929 | |||||
Financing Receivable, Collectively evaluated | 425,818 | 421,574 | |||||
Financing Receivable, Individually evaluated | 10,641 | 13,126 | |||||
Loans | 436,459 | 434,700 | |||||
PCI [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 0 | 0 | |||||
Loans | 1,174 | 5,009 | |||||
PCI [Member] | Total Commercial [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 0 | 0 | |||||
Loans | 0 | 4 | |||||
PCI [Member] | Total Consumer [Member] | |||||||
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract] | |||||||
Total allowance for credit losses | 0 | 0 | |||||
Loans | $ 1,174 | $ 5,005 | |||||
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | [1] | $ 949,878 | $ 953,110 |
Total Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 512,245 | 513,405 | |
Commercial and industrial loans [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 348,846 | 350,199 | |
Commercial real estate mortgage [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 123,008 | 121,014 | |
Commercial real estate construction [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 21,067 | 22,496 | |
Commercial lease financing receivable [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 19,324 | 19,696 | |
Non-PCI [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Nonaccrual loans | 5,922 | 6,496 | |
Non-PCI [Member] | Total Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 512,245 | 513,401 | |
Nonaccrual loans | 2,470 | 2,188 | |
Non-PCI [Member] | Total Commercial [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 491,910 | 492,804 | |
Non-PCI [Member] | Total Commercial [Member] | Criticized [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 20,335 | 20,597 | |
Non-PCI [Member] | Commercial and industrial loans [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 348,846 | 350,195 | |
Nonaccrual loans | 1,634 | 1,486 | |
Non-PCI [Member] | Commercial and industrial loans [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 334,034 | 335,412 | |
Non-PCI [Member] | Commercial and industrial loans [Member] | Criticized [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 14,812 | 14,783 | |
Non-PCI [Member] | Commercial real estate mortgage [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 123,008 | 121,014 | |
Nonaccrual loans | 737 | 580 | |
Non-PCI [Member] | Commercial real estate mortgage [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 118,768 | 116,514 | |
Non-PCI [Member] | Commercial real estate mortgage [Member] | Criticized [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 4,240 | 4,500 | |
Non-PCI [Member] | Commercial real estate construction [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 21,067 | 22,496 | |
Nonaccrual loans | 36 | 32 | |
Non-PCI [Member] | Commercial real estate construction [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 20,883 | 22,207 | |
Non-PCI [Member] | Commercial real estate construction [Member] | Criticized [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 184 | 289 | |
Non-PCI [Member] | Commercial lease financing receivable [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 19,324 | 19,696 | |
Nonaccrual loans | 63 | 90 | |
Non-PCI [Member] | Commercial lease financing receivable [Member] | Pass [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 18,225 | 18,671 | |
Non-PCI [Member] | Commercial lease financing receivable [Member] | Criticized [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 1,099 | 1,025 | |
PCI [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 1,174 | 5,009 | |
PCI loans | 1,174 | 5,009 | |
PCI [Member] | Total Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
Loans | 0 | 4 | |
PCI loans | 0 | 4 | |
PCI [Member] | Commercial and industrial loans [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
PCI loans | 0 | 4 | |
PCI [Member] | Commercial real estate mortgage [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
PCI loans | 0 | 0 | |
PCI [Member] | Commercial real estate construction [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
PCI loans | 0 | 0 | |
PCI [Member] | Commercial lease financing receivable [Member] | |||
Loans and Leases Receivable Disclosure [Abstract] | |||
PCI loans | $ 0 | $ 0 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
By delinquency status: | |||
Loans | [1] | $ 949,878 | $ 953,110 |
Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 512,245 | 513,405 | |
Commercial and industrial loans [Member] | |||
By delinquency status: | |||
Loans | 348,846 | 350,199 | |
Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
Loans | 123,008 | 121,014 | |
Commercial real estate construction [Member] | |||
By delinquency status: | |||
Loans | 21,067 | 22,496 | |
Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
Loans | 19,324 | 19,696 | |
Non-PCI [Member] | |||
By delinquency status: | |||
Nonaccrual loans | 5,922 | 6,496 | |
Non-PCI [Member] | Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 512,245 | 513,401 | |
Nonaccrual loans | 2,470 | 2,188 | |
Non-PCI [Member] | Commercial and industrial loans [Member] | |||
By delinquency status: | |||
Loans | 348,846 | 350,195 | |
Nonaccrual loans | 1,634 | 1,486 | |
Non-PCI [Member] | Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
Loans | 123,008 | 121,014 | |
Nonaccrual loans | 737 | 580 | |
Non-PCI [Member] | Commercial real estate construction [Member] | |||
By delinquency status: | |||
Loans | 21,067 | 22,496 | |
Nonaccrual loans | 36 | 32 | |
Non-PCI [Member] | Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
Loans | 19,324 | 19,696 | |
Nonaccrual loans | 63 | 90 | |
PCI [Member] | |||
By delinquency status: | |||
Loans | 1,174 | 5,009 | |
PCI loans | 1,174 | 5,009 | |
PCI [Member] | Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 0 | 4 | |
PCI loans | 0 | 4 | |
PCI [Member] | Commercial and industrial loans [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 4 | |
PCI [Member] | Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Commercial real estate construction [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 0 | |
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 508,744 | 510,188 | |
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||
By delinquency status: | |||
Loans | 346,688 | 348,158 | |
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
Loans | 122,101 | 120,176 | |
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||
By delinquency status: | |||
Loans | 20,854 | 22,411 | |
Current-29 days past due and still accruing [Member] | Non-PCI [Member] | Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
Loans | 19,101 | 19,443 | |
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 990 | 931 | |
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||
By delinquency status: | |||
Loans | 507 | 508 | |
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
Loans | 146 | 207 | |
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||
By delinquency status: | |||
Loans | 177 | 53 | |
30-89 days past due and still accruing [Member] | Non-PCI [Member] | Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
Loans | 160 | 163 | |
90 days past due and still accruing [Member] | Non-PCI [Member] | Total Commercial [Member] | |||
By delinquency status: | |||
Loans | 41 | 94 | |
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial and industrial loans [Member] | |||
By delinquency status: | |||
Loans | 17 | 43 | |
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate mortgage [Member] | |||
By delinquency status: | |||
Loans | 24 | 51 | |
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial real estate construction [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
90 days past due and still accruing [Member] | Non-PCI [Member] | Commercial lease financing receivable [Member] | |||
By delinquency status: | |||
Loans | $ 0 | $ 0 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
By delinquency status: | |||
Loans | [1] | $ 949,878 | $ 953,110 |
Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 437,633 | 439,705 | |
Residential mortgage [Member] | |||
By delinquency status: | |||
Loans | $ 318,495 | $ 319,463 | |
Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivables Equal To Or Greater Than 180 Days Past Due Percentage Of Portfolio | 0.20% | 0.30% | |
By delinquency status: | |||
Loans | $ 286,427 | $ 285,065 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 32,068 | 34,398 | |
Credit Card [Member] | |||
By delinquency status: | |||
Loans | 38,820 | 39,025 | |
Automobile [Member] | |||
By delinquency status: | |||
Loans | 45,664 | 45,069 | |
Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 34,654 | 36,148 | |
Loans held at fair value measurement [Member] | |||
By delinquency status: | |||
Loans | 920,977 | 923,703 | |
90 days past due and still accruing [Member] | Not government insured/guaranteed [Member] | Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 1,900 | 2,400 | |
Non-PCI [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 7,258 | 8,704 | |
Non-PCI [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 436,459 | 434,700 | |
Non-PCI [Member] | Residential mortgage [Member] | |||
By delinquency status: | |||
Loans | 317,321 | 314,458 | |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 285,268 | 280,077 | |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 32,053 | 34,381 | |
Non-PCI [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 38,820 | 39,025 | |
Non-PCI [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 45,664 | 45,069 | |
Non-PCI [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 34,654 | 36,148 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 780 | 979 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 739 | 885 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 108 | 124 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 27 | 32 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Credit Card [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 449 | 513 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Automobile [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 63 | 114 | |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Other revolving credit and installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 92 | 102 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 6,478 | 7,725 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Residential mortgage [Member] | |||
By delinquency status: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 202 | 244 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 202 | 244 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Loans held at fair value measurement [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 11,172 | 12,688 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 11,172 | 12,688 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Portion at other than fair value measurement [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Current-29 days past due [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 419,380 | 414,931 | |
Non-PCI [Member] | Current-29 days past due [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 271,144 | 263,881 | |
Non-PCI [Member] | Current-29 days past due [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 31,374 | 33,644 | |
Non-PCI [Member] | Current-29 days past due [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 37,925 | 38,008 | |
Non-PCI [Member] | Current-29 days past due [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 44,554 | 43,604 | |
Non-PCI [Member] | Current-29 days past due [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 34,383 | 35,794 | |
Non-PCI [Member] | 30-59 days past due [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 2,724 | 3,130 | |
Non-PCI [Member] | 30-59 days past due [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 1,311 | 1,411 | |
Non-PCI [Member] | 30-59 days past due [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 250 | 247 | |
Non-PCI [Member] | 30-59 days past due [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 258 | 292 | |
Non-PCI [Member] | 30-59 days past due [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 808 | 1,040 | |
Non-PCI [Member] | 30-59 days past due [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 97 | 140 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 1,041 | 1,288 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 436 | 549 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 115 | 126 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 188 | 212 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 232 | 314 | |
Non-PCI [Member] | 60 to 89 days past due [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 70 | 87 | |
Non-PCI [Member] | 90-119 days past due [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 548 | 712 | |
Non-PCI [Member] | 90-119 days past due [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 196 | 257 | |
Non-PCI [Member] | 90-119 days past due [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 63 | 74 | |
Non-PCI [Member] | 90-119 days past due [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 152 | 192 | |
Non-PCI [Member] | 90-119 days past due [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 69 | 109 | |
Non-PCI [Member] | 90-119 days past due [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 68 | 80 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 567 | 651 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 177 | 225 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 70 | 77 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 297 | 320 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 1 | 2 | |
Non-PCI [Member] | 120-179 days past due member [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 22 | 27 | |
Non-PCI [Member] | 180 plus days past due [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 825 | 1,056 | |
Non-PCI [Member] | 180 plus days past due [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
Loans | 630 | 822 | |
Non-PCI [Member] | 180 plus days past due [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
Loans | 181 | 213 | |
Non-PCI [Member] | 180 plus days past due [Member] | Credit Card [Member] | |||
By delinquency status: | |||
Loans | 0 | 1 | |
Non-PCI [Member] | 180 plus days past due [Member] | Automobile [Member] | |||
By delinquency status: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | 180 plus days past due [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
Loans | 14 | 20 | |
Non-PCI [Member] | 90 days past due and still accruing [Member] | Government insured/guaranteed [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 6,500 | 7,700 | |
PCI [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
90 days or more past due and still accruing | 156 | 370 | |
By delinquency status: | |||
Loans | 1,174 | 5,009 | |
PCI loans | 1,174 | 5,009 | |
PCI [Member] | Total Consumer [Member] | |||
By delinquency status: | |||
Loans | 1,174 | 5,005 | |
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Residential mortgage [Member] | |||
By delinquency status: | |||
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By delinquency status: | |||
PCI loans | 1,159 | 4,988 | |
PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By delinquency status: | |||
PCI loans | 15 | 17 | |
PCI [Member] | Credit Card [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Automobile [Member] | |||
By delinquency status: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Other revolving credit and installment [Member] | |||
By delinquency status: | |||
PCI loans | $ 0 | $ 0 | |
PCI [Member] | Financing receivables equal to greater than 30 days past due [Member] | Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance, percent past due | 23.00% | 18.00% | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
By FICO: | |||
Loans | [1] | $ 949,878 | $ 953,110 |
Total Consumer [Member] | |||
By FICO: | |||
Loans | 437,633 | 439,705 | |
Residential mortgage [Member] | |||
By FICO: | |||
Loans | 318,495 | 319,463 | |
Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 286,427 | 285,065 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 32,068 | 34,398 | |
Credit Card [Member] | |||
By FICO: | |||
Loans | 38,820 | 39,025 | |
Automobile [Member] | |||
By FICO: | |||
Loans | 45,664 | 45,069 | |
Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 34,654 | 36,148 | |
Non-PCI [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 436,459 | 434,700 | |
Non-PCI [Member] | Residential mortgage [Member] | |||
By FICO: | |||
Loans | 317,321 | 314,458 | |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 285,268 | 280,077 | |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 32,053 | 34,381 | |
Non-PCI [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 38,820 | 39,025 | |
Non-PCI [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 45,664 | 45,069 | |
Non-PCI [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 34,654 | 36,148 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Residential mortgage [Member] | |||
By FICO: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | FICO less than 600 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 15,049 | 16,787 | |
Non-PCI [Member] | FICO less than 600 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 3,539 | 4,273 | |
Non-PCI [Member] | FICO less than 600 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 1,297 | 1,454 | |
Non-PCI [Member] | FICO less than 600 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 3,064 | 3,292 | |
Non-PCI [Member] | FICO less than 600 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 6,442 | 7,071 | |
Non-PCI [Member] | FICO less than 600 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 707 | 697 | |
Non-PCI [Member] | FICO 600-639 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 11,301 | 11,901 | |
Non-PCI [Member] | FICO 600-639 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 2,559 | 2,974 | |
Non-PCI [Member] | FICO 600-639 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 897 | 994 | |
Non-PCI [Member] | FICO 600-639 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 2,670 | 2,777 | |
Non-PCI [Member] | FICO 600-639 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 4,498 | 4,431 | |
Non-PCI [Member] | FICO 600-639 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 677 | 725 | |
Non-PCI [Member] | FICO 640-679 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 21,452 | 22,219 | |
Non-PCI [Member] | FICO 640-679 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 5,276 | 5,810 | |
Non-PCI [Member] | FICO 640-679 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 1,720 | 1,898 | |
Non-PCI [Member] | FICO 640-679 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 6,313 | 6,464 | |
Non-PCI [Member] | FICO 640-679 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 6,386 | 6,225 | |
Non-PCI [Member] | FICO 640-679 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 1,757 | 1,822 | |
Non-PCI [Member] | FICO 680-719 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 36,691 | 37,659 | |
Non-PCI [Member] | FICO 680-719 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 12,898 | 13,568 | |
Non-PCI [Member] | FICO 680-719 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 3,620 | 3,908 | |
Non-PCI [Member] | FICO 680-719 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 9,415 | 9,445 | |
Non-PCI [Member] | FICO 680-719 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 7,475 | 7,354 | |
Non-PCI [Member] | FICO 680-719 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 3,283 | 3,384 | |
Non-PCI [Member] | FICO 720-759 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 51,991 | 51,778 | |
Non-PCI [Member] | FICO 720-759 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 27,807 | 27,258 | |
Non-PCI [Member] | FICO 720-759 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 4,947 | 5,323 | |
Non-PCI [Member] | FICO 720-759 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 8,022 | 7,949 | |
Non-PCI [Member] | FICO 720-759 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 7,051 | 6,853 | |
Non-PCI [Member] | FICO 720-759 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 4,164 | 4,395 | |
Non-PCI [Member] | FICO 760-799 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 83,570 | 80,004 | |
Non-PCI [Member] | FICO 760-799 [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 61,007 | 57,193 | |
Non-PCI [Member] | FICO 760-799 [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 6,001 | 6,315 | |
Non-PCI [Member] | FICO 760-799 [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 5,323 | 5,227 | |
Non-PCI [Member] | FICO 760-799 [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 6,240 | 5,947 | |
Non-PCI [Member] | FICO 760-799 [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 4,999 | 5,322 | |
Non-PCI [Member] | FICO 800 or more [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 188,749 | 183,959 | |
Non-PCI [Member] | FICO 800 or more [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 157,049 | 151,465 | |
Non-PCI [Member] | FICO 800 or more [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 12,346 | 13,190 | |
Non-PCI [Member] | FICO 800 or more [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 3,879 | 3,794 | |
Non-PCI [Member] | FICO 800 or more [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 7,464 | 7,099 | |
Non-PCI [Member] | FICO 800 or more [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 8,011 | 8,411 | |
Non-PCI [Member] | No FICO available [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 7,660 | 8,576 | |
Non-PCI [Member] | No FICO available [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 3,759 | 4,604 | |
Non-PCI [Member] | No FICO available [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 1,225 | 1,299 | |
Non-PCI [Member] | No FICO available [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 134 | 77 | |
Non-PCI [Member] | No FICO available [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 108 | 89 | |
Non-PCI [Member] | No FICO available [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 2,434 | 2,507 | |
Non-PCI [Member] | FICO not required [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 8,622 | 8,885 | |
Non-PCI [Member] | FICO not required [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | FICO not required [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | FICO not required [Member] | Credit Card [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | FICO not required [Member] | Automobile [Member] | |||
By FICO: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | FICO not required [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
Loans | 8,622 | 8,885 | |
PCI [Member] | |||
By FICO: | |||
Loans | 1,174 | 5,009 | |
PCI loans | 1,174 | 5,009 | |
PCI [Member] | Total Consumer [Member] | |||
By FICO: | |||
Loans | 1,174 | 5,005 | |
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Residential mortgage [Member] | |||
By FICO: | |||
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By FICO: | |||
PCI loans | 1,159 | 4,988 | |
PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By FICO: | |||
PCI loans | 15 | 17 | |
PCI [Member] | Credit Card [Member] | |||
By FICO: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Automobile [Member] | |||
By FICO: | |||
PCI loans | 0 | 0 | |
PCI [Member] | Other revolving credit and installment [Member] | |||
By FICO: | |||
PCI loans | $ 0 | $ 0 | |
PCI [Member] | No FICO available [Member] | Total Consumer [Member] | |||
By FICO: | |||
Unpaid principal balance, percent of FICO score | 16.00% | 15.00% | |
PCI [Member] | FICO less than 680 [Member] | Total Consumer [Member] | |||
By FICO: | |||
Unpaid principal balance, percent of FICO score | 44.00% | 45.00% | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
High value properties, threshold | $ 1 | ||
By LTV/CLTV: | |||
Loans | [1] | 949,878 | $ 953,110 |
Total Consumer [Member] | |||
By LTV/CLTV: | |||
Loans | 437,633 | 439,705 | |
Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 318,495 | 319,463 | |
Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 286,427 | 285,065 | |
Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 32,068 | 34,398 | |
Non-PCI [Member] | Total Consumer [Member] | |||
By LTV/CLTV: | |||
Loans | 436,459 | 434,700 | |
Non-PCI [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 317,321 | 314,458 | |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 285,268 | 280,077 | |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 32,053 | 34,381 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Total Consumer [Member] | |||
By LTV/CLTV: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 11,374 | 12,932 | |
Non-PCI [Member] | Government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 0 | 0 | |
Non-PCI [Member] | LTV 0-60% [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 160,888 | 163,419 | |
Non-PCI [Member] | LTV 0-60% [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 145,884 | 147,666 | |
Non-PCI [Member] | LTV 0-60% [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 15,004 | 15,753 | |
Non-PCI [Member] | LTV 60.01-80% [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 121,371 | 115,660 | |
Non-PCI [Member] | LTV 60.01-80% [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 110,919 | 104,477 | |
Non-PCI [Member] | LTV 60.01-80% [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 10,452 | 11,183 | |
Non-PCI [Member] | LTV 80.01-100% [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 19,150 | 17,246 | |
Non-PCI [Member] | LTV 80.01-100% [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 14,763 | 12,372 | |
Non-PCI [Member] | LTV 80.01-100% [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 4,387 | 4,874 | |
Non-PCI [Member] | LTV 100.01-120% [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 2,402 | 2,807 | |
Non-PCI [Member] | LTV 100.01-120% [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 1,052 | 1,211 | |
Non-PCI [Member] | LTV 100.01-120% [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 1,350 | 1,596 | |
Non-PCI [Member] | LTV greater than 120% [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 892 | 1,062 | |
Non-PCI [Member] | LTV greater than 120% [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 412 | 484 | |
Non-PCI [Member] | LTV greater than 120% [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 480 | 578 | |
Non-PCI [Member] | No LTV/CLTV available [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 1,244 | 1,332 | |
Non-PCI [Member] | No LTV/CLTV available [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 864 | 935 | |
Non-PCI [Member] | No LTV/CLTV available [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
Loans | 380 | 397 | |
PCI [Member] | |||
By LTV/CLTV: | |||
Loans | 1,174 | 5,009 | |
PCI loans | 1,174 | 5,009 | |
PCI [Member] | Total Consumer [Member] | |||
By LTV/CLTV: | |||
Loans | 1,174 | 5,005 | |
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Residential mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | 1,174 | 5,005 | |
PCI [Member] | Real estate 1-4 family first mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | 1,159 | 4,988 | |
PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||
By LTV/CLTV: | |||
PCI loans | $ 15 | $ 17 | |
PCI [Member] | LTV greater than 80% [Member] | Total Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable, Percent of Debt-to-Value Ratio | 12.00% | 10.00% | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Loans and Allowance for Cred_14
Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Residential real estate [Member] | ||
Nonaccrual Loans [Abstract] | ||
Mortgage loans in process of foreclosure, amount | $ 3,700 | $ 4,600 |
Government guaranteed mortgage loans upon foreclosure receivable [Member] | ||
Nonaccrual Loans [Abstract] | ||
Mortgage loans in process of foreclosure, amount | 2,900 | 3,200 |
Non-PCI [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 5,922 | 6,496 |
Non-PCI [Member] | Total Commercial [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 2,470 | 2,188 |
Non-PCI [Member] | Commercial and industrial loans [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 1,634 | 1,486 |
Non-PCI [Member] | Commercial real estate mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 737 | 580 |
Non-PCI [Member] | Commercial real estate construction [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 36 | 32 |
Non-PCI [Member] | Commercial lease financing receivable [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 63 | 90 |
Non-PCI [Member] | Total Consumer [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 3,452 | 4,308 |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 2,425 | 3,183 |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 868 | 945 |
Non-PCI [Member] | Automobile [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | 115 | 130 |
Non-PCI [Member] | Other revolving credit and installment [Member] | ||
Nonaccrual Loans [Abstract] | ||
Nonaccrual loans | $ 44 | $ 50 |
Loans and Allowance for Cred_15
Loans and Allowance for Credit Losses, 90 Days or More Past Due and Still Accruing (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Non-PCI [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 7,258 | $ 8,704 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 780 | 979 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Total Commercial [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 41 | 94 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Commercial and industrial loans [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 17 | 43 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Commercial real estate mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 24 | 51 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Commercial real estate construction [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 0 | 0 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Total Consumer [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 739 | 885 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Real estate 1-4 family first mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 108 | 124 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 27 | 32 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Credit Card [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 449 | 513 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Automobile [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 63 | 114 |
Non-PCI [Member] | Not government insured/guaranteed [Member] | Other revolving credit and installment [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 92 | 102 |
Non-PCI [Member] | Government insured/guaranteed [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | 6,478 | 7,725 |
PCI [Member] | ||
Loans 90 days or more past due and still accruing: | ||
90 days or more past due and still accruing | $ 156 | $ 370 |
Loans and Allowance for Cred_16
Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Trial modifications | $ 127 | $ 149 |
Loans and leases receivable, impaired, commitment to lend | 478 | 513 |
Non-PCI [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 15,814 | 19,464 |
Impaired loans | 14,088 | 16,347 |
Impaired loans with related allowance for credit losses | 8,699 | 9,078 |
Related allowance for credit losses | 1,336 | 1,443 |
Non-PCI [Member] | Government insured/guaranteed [Member] | ||
Impaired Loans [Abstract] | ||
Impaired loans | 1,200 | 1,300 |
Non-PCI [Member] | Total Commercial [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 4,433 | 4,505 |
Impaired loans | 3,447 | 3,221 |
Impaired loans with related allowance for credit losses | 3,204 | 2,897 |
Related allowance for credit losses | 467 | 514 |
Non-PCI [Member] | Commercial and industrial loans [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 2,963 | 3,057 |
Impaired loans | 2,169 | 2,030 |
Impaired loans with related allowance for credit losses | 1,991 | 1,730 |
Related allowance for credit losses | 303 | 319 |
Non-PCI [Member] | Commercial real estate mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 1,297 | 1,228 |
Impaired loans | 1,142 | 1,032 |
Impaired loans with related allowance for credit losses | 1,078 | 1,009 |
Related allowance for credit losses | 134 | 154 |
Non-PCI [Member] | Commercial real estate construction [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 82 | 74 |
Impaired loans | 54 | 47 |
Impaired loans with related allowance for credit losses | 53 | 46 |
Related allowance for credit losses | 10 | 9 |
Non-PCI [Member] | Commercial lease financing receivable [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 91 | 146 |
Impaired loans | 82 | 112 |
Impaired loans with related allowance for credit losses | 82 | 112 |
Related allowance for credit losses | 20 | 32 |
Non-PCI [Member] | Total Consumer [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 11,381 | 14,959 |
Impaired loans | 10,641 | 13,126 |
Impaired loans with related allowance for credit losses | 5,495 | 6,181 |
Related allowance for credit losses | 869 | 929 |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 8,803 | 12,309 |
Impaired loans | 8,307 | 10,738 |
Impaired loans with related allowance for credit losses | 3,782 | 4,420 |
Related allowance for credit losses | 451 | 525 |
Non-PCI [Member] | Real estate 1-4 family first mortgage [Member] | Impaired Financing Receivable, Recorded Investment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans reclassified to held-for-sale | 1,700 | |
Non-PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 1,781 | 1,886 |
Impaired loans | 1,603 | 1,694 |
Impaired loans with related allowance for credit losses | 1,040 | 1,133 |
Related allowance for credit losses | 174 | 183 |
Non-PCI [Member] | Credit Card [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 487 | 449 |
Impaired loans | 486 | 449 |
Impaired loans with related allowance for credit losses | 486 | 449 |
Related allowance for credit losses | 194 | 172 |
Non-PCI [Member] | Automobile [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 144 | 153 |
Impaired loans | 85 | 89 |
Impaired loans with related allowance for credit losses | 45 | 43 |
Related allowance for credit losses | 9 | 8 |
Non-PCI [Member] | Other revolving credit and installment [Member] | ||
Impaired Loans [Abstract] | ||
Unpaid principal balance | 166 | 162 |
Impaired loans | 160 | 156 |
Impaired loans with related allowance for credit losses | 142 | 136 |
Related allowance for credit losses | $ 41 | $ 41 |
Loans and Allowance for Cred_17
Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | $ 15,296 | $ 17,935 | $ 15,797 | $ 18,161 |
Recognized interest income | 242 | 281 | 484 | 562 |
Interest income: | ||||
Cash basis of accounting | 76 | 84 | 135 | 165 |
Other | 166 | 197 | 349 | 397 |
Total Commercial [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 3,544 | 3,711 | 3,479 | 3,776 |
Recognized interest income | 66 | 67 | 106 | 132 |
Commercial and industrial loans [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 2,285 | 2,212 | 2,249 | 2,318 |
Recognized interest income | 50 | 43 | 73 | 79 |
Commercial real estate mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 1,116 | 1,299 | 1,079 | 1,266 |
Recognized interest income | 16 | 22 | 31 | 50 |
Commercial real estate construction [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 55 | 62 | 53 | 60 |
Recognized interest income | 0 | 1 | 2 | 2 |
Commercial lease financing receivable [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 88 | 138 | 98 | 132 |
Recognized interest income | 0 | 1 | 0 | 1 |
Total Consumer [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 11,752 | 14,224 | 12,318 | 14,385 |
Recognized interest income | 176 | 214 | 378 | 430 |
Real estate 1-4 family first mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 9,398 | 11,772 | 9,950 | 11,921 |
Recognized interest income | 128 | 167 | 281 | 339 |
Real estate 1-4 family junior lien mortgage [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 1,630 | 1,832 | 1,654 | 1,861 |
Recognized interest income | 26 | 29 | 52 | 58 |
Credit Card [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 480 | 398 | 470 | 384 |
Recognized interest income | 16 | 12 | 31 | 22 |
Automobile [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 86 | 82 | 87 | 83 |
Recognized interest income | 3 | 3 | 7 | 6 |
Other revolving credit and installment [Member] | ||||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Average recorded investment | 158 | 140 | 157 | 136 |
Recognized interest income | $ 3 | $ 3 | $ 7 | $ 5 |
Loans and Allowance for Cred_18
Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Modifications [Line Items] | |||||
Net loans | $ 940,186 | $ 940,186 | $ 943,335 | ||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 729 | $ 1,121 | 1,868 | $ 2,300 | |
Financial effects of modifications | |||||
Charge-offs | $ 35 | $ 23 | $ 56 | $ 40 | |
Weighted average interest rate reduction | 7.17% | 8.30% | 8.18% | 7.92% | |
Total Commercial [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 359 | $ 590 | $ 1,002 | $ 1,233 | |
Financial effects of modifications | |||||
Charge-offs | $ 26 | $ 14 | $ 39 | $ 20 | |
Weighted average interest rate reduction | 0.40% | 0.64% | 0.47% | 0.88% | |
Commercial and industrial loans [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 214 | $ 457 | $ 779 | $ 954 | |
Financial effects of modifications | |||||
Charge-offs | $ 26 | $ 14 | $ 39 | $ 20 | |
Weighted average interest rate reduction | 0.34% | 0.58% | 0.42% | 0.88% | |
Commercial real estate mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 119 | $ 132 | $ 194 | $ 236 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.49% | 0.67% | 0.54% | 0.89% | |
Commercial real estate construction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 26 | $ 1 | $ 29 | $ 4 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% | 0.00% | |
Commercial lease financing receivable [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 0 | $ 0 | $ 39 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% | 0.00% | |
Total Consumer [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 370 | $ 531 | $ 866 | $ 1,067 | |
Financial effects of modifications | |||||
Charge-offs | $ 9 | $ 9 | $ 17 | $ 20 | |
Weighted average interest rate reduction | 10.06% | 9.17% | 10.17% | 8.67% | |
Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 211 | $ 358 | $ 543 | $ 720 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 2 | $ 1 | $ 3 | |
Weighted average interest rate reduction | 1.83% | 2.26% | 1.89% | 2.33% | |
Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 33 | $ 44 | $ 71 | $ 81 | |
Financial effects of modifications | |||||
Charge-offs | $ 1 | $ 2 | $ 2 | $ 3 | |
Weighted average interest rate reduction | 2.39% | 1.66% | 2.34% | 1.89% | |
Credit Card [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 89 | $ 83 | $ 186 | $ 169 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 13.35% | 13.19% | 13.27% | 12.24% | |
Automobile [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 19 | $ 17 | $ 34 | $ 36 | |
Financial effects of modifications | |||||
Charge-offs | $ 8 | $ 5 | $ 14 | $ 14 | |
Weighted average interest rate reduction | 4.13% | 6.49% | 4.55% | 6.48% | |
Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13 | $ 12 | $ 27 | $ 29 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 7.67% | 7.95% | 7.63% | 7.95% | |
Trial modifications [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5 | $ 17 | $ 5 | $ 32 | |
Financial effects of modifications | |||||
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average interest rate reduction | 0.00% | 0.00% | 0.00% | 0.00% | |
Modification to principal [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 44 | $ 71 | $ 83 | $ 119 | |
Modification to principal [Member] | Total Commercial [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 13 | 3 | 13 | 3 | |
Modification to principal [Member] | Commercial and industrial loans [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 3 | 0 | 3 | |
Modification to principal [Member] | Commercial real estate mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification to principal [Member] | Commercial real estate construction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 13 | 0 | 13 | 0 | |
Modification to principal [Member] | Commercial lease financing receivable [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification to principal [Member] | Total Consumer [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 31 | 68 | 70 | 116 | |
Modification to principal [Member] | Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 28 | 64 | 63 | 110 | |
Modification to principal [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1 | 2 | 3 | 3 | |
Modification to principal [Member] | Credit Card [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification to principal [Member] | Automobile [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2 | 2 | 4 | 3 | |
Modification to principal [Member] | Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification to principal [Member] | Trial modifications [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 175 | 133 | 311 | 271 | |
Contractual Interest Rate Reduction [Member] | Total Commercial [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 58 | 16 | 71 | 31 | |
Contractual Interest Rate Reduction [Member] | Commercial and industrial loans [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 34 | 5 | 45 | 14 | |
Contractual Interest Rate Reduction [Member] | Commercial real estate mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 24 | 11 | 26 | 17 | |
Contractual Interest Rate Reduction [Member] | Commercial real estate construction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | Commercial lease financing receivable [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Contractual Interest Rate Reduction [Member] | Total Consumer [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 117 | 117 | 240 | 240 | |
Contractual Interest Rate Reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2 | 8 | 5 | 18 | |
Contractual Interest Rate Reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 11 | 12 | 22 | 20 | |
Contractual Interest Rate Reduction [Member] | Credit Card [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 89 | 83 | 186 | 169 | |
Contractual Interest Rate Reduction [Member] | Automobile [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 4 | 4 | 8 | |
Contractual Interest Rate Reduction [Member] | Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 12 | 10 | 23 | 25 | |
Contractual Interest Rate Reduction [Member] | Trial modifications [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modifications, other concessions [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 510 | 917 | 1,474 | 1,910 | |
Modifications, other concessions [Member] | Total Commercial [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 288 | 571 | 918 | 1,199 | |
Modifications, other concessions [Member] | Commercial and industrial loans [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 180 | 449 | 734 | 937 | |
Modifications, other concessions [Member] | Commercial real estate mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 95 | 121 | 168 | 219 | |
Modifications, other concessions [Member] | Commercial real estate construction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 13 | 1 | 16 | 4 | |
Modifications, other concessions [Member] | Commercial lease financing receivable [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 39 | |
Modifications, other concessions [Member] | Total Consumer [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 222 | 346 | 556 | 711 | |
Modifications, other concessions [Member] | Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 181 | 286 | 475 | 592 | |
Modifications, other concessions [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 21 | 30 | 46 | 58 | |
Modifications, other concessions [Member] | Credit Card [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modifications, other concessions [Member] | Automobile [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 14 | 11 | 26 | 25 | |
Modifications, other concessions [Member] | Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1 | 2 | 4 | 4 | |
Modifications, other concessions [Member] | Trial modifications [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 5 | 17 | 5 | 32 | |
Modification of recorded investment related to interest rate reduction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 192 | 157 | 345 | 321 | |
Modification of recorded investment related to interest rate reduction [Member] | Total Commercial [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 58 | 16 | 71 | 31 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial and industrial loans [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 34 | 5 | 45 | 14 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial real estate mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 24 | 11 | 26 | 17 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial real estate construction [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification of recorded investment related to interest rate reduction [Member] | Commercial lease financing receivable [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Modification of recorded investment related to interest rate reduction [Member] | Total Consumer [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 134 | 141 | 274 | 290 | |
Modification of recorded investment related to interest rate reduction [Member] | Real estate 1-4 family first mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 19 | 31 | 38 | 66 | |
Modification of recorded investment related to interest rate reduction [Member] | Real estate 1-4 family junior lien mortgage [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 11 | 13 | 23 | 22 | |
Modification of recorded investment related to interest rate reduction [Member] | Credit Card [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 89 | 83 | 186 | 169 | |
Modification of recorded investment related to interest rate reduction [Member] | Automobile [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 3 | 4 | 4 | 8 | |
Modification of recorded investment related to interest rate reduction [Member] | Other revolving credit and installment [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 12 | 10 | 23 | 25 | |
Modification of recorded investment related to interest rate reduction [Member] | Trial modifications [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring Outstanding Balance [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Net loans | 12,600 | 12,600 | $ 15,500 | ||
Loans remodified [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 323 | 381 | 683 | 884 | |
Principal Forgiveness [Member] | |||||
Primary modification type | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3 | $ 14 | $ 6 | $ 17 |
Loans and Allowance for Cred_19
Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 73 | $ 83 | $ 169 | $ 235 |
Total Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 30 | 37 | 84 | 149 |
Commercial and industrial loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 25 | 7 | 48 | 93 |
Commercial real estate mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 5 | 14 | 33 | 40 |
Commercial real estate construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 0 | 16 | 3 | 16 |
Total Consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 43 | 46 | 85 | 86 |
Real estate 1-4 family first mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 13 | 15 | 24 | 33 |
Real estate 1-4 family junior lien mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 4 | 2 | 9 | 7 |
Credit Card [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 21 | 24 | 42 | 37 |
Automobile [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | 4 | 4 | 7 | 7 |
Other revolving credit and installment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment of defaults | $ 1 | $ 1 | $ 3 | $ 2 |
Loans and Allowance for Cred_20
Loans and Allowance for Credit Losses, PCI Loans Outstanding (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
PCI Loans UPB [Member] | ||
PCI loans [Abstract] | ||
Total PCI loans (unpaid principal balance) | $ 1,952 | $ 7,348 |
PCI [Member] | ||
PCI loans [Abstract] | ||
PCI loans | 1,174 | 5,009 |
PCI [Member] | Total Commercial [Member] | ||
PCI loans [Abstract] | ||
PCI loans | 0 | 4 |
PCI [Member] | Total Consumer [Member] | ||
PCI loans [Abstract] | ||
PCI loans | 1,174 | 5,005 |
PCI [Member] | Real estate 1-4 family first mortgage [Member] | ||
PCI loans [Abstract] | ||
PCI loans | 1,159 | 4,988 |
PCI [Member] | Real estate 1-4 family junior lien mortgage [Member] | ||
PCI loans [Abstract] | ||
PCI loans | $ 15 | $ 17 |
Leasing Activity, Leasing Reven
Leasing Activity, Leasing Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Leases [Line Items] | ||||
Interest income on lease financing | $ 224 | $ 447 | ||
Variable revenues on lease financing | 26 | 50 | ||
Fixed revenues on operating leases | 357 | 730 | ||
Variable revenues on operating leases | 14 | 32 | ||
Lease income | 424 | $ 443 | 867 | $ 898 |
Total leasing revenue | 648 | 1,314 | ||
Equipment leased to other party [Member] | ||||
Leases [Line Items] | ||||
Other lease-related revenues | $ 27 | $ 55 |
Leasing Activity Leasing Activi
Leasing Activity Leasing Activity, Investment in Lease Financing (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Investment in Lease Financing [Line Items] | |||
Lease receivables | $ 17,735 | $ 17,735 | |
Residual asset values | 4,244 | 4,244 | |
Unearned income | (2,655) | (2,655) | |
Lease financing | 19,324 | 19,324 | |
Leasing Activity Disclosures Textual [Abstract] | |||
Net investment in leveraged leases, lessor | 2,100 | 2,100 | |
Operating lease assets, lessor | 9,489 | 9,489 | $ 9,444 |
Assets Leased to Others [Member] | |||
Leasing Activity Disclosures Textual [Abstract] | |||
Operating lease assets, lessor | 8,663 | 8,663 | $ 9,036 |
Accumulated depreciation, Operating lease assets, lessor | 3,200 | 3,200 | |
Depreciation, Operating lease assets, lessor | $ 219 | $ 448 |
Leasing Activity Leasing Acti_2
Leasing Activity Leasing Activity, Maturities of Lease Receivables (Details) $ in Millions | Jun. 30, 2019USD ($) |
Direct financing and sales-type leases, Fiscal Year Maturity [Abstract] | |
Remainder of 2019, direct financing and sales-type leases | $ 3,036 |
2020, direct financing and sales-type leases | 5,167 |
2021, direct financing and sales-type leases | 4,004 |
2022, direct financing and sales-type leases | 2,127 |
2023, direct financing and sales-type leases | 1,219 |
Thereafter, direct financing and sales-type leases | 2,182 |
Total lease receivables, direct financing and sales-type leases | 17,735 |
Operating leases, Fiscal Year Maturity [Abstract] | |
Remainder of 2019, operating leases | 535 |
2020, operating leases | 880 |
2021, operating leases | 591 |
2022, operating leases | 407 |
2023, operating leases | 269 |
Thereafter, operating leases | 605 |
Total lease receivables, operating leases | $ 3,287 |
Leasing Activity Leasing Acti_3
Leasing Activity Leasing Activity, Operating Lease Right of Use (ROU) Assets and Lease Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
ROU assets | $ 4,776 | $ 0 |
Lease liabilities | $ 5,302 |
Leasing Activity Leasing Acti_4
Leasing Activity Leasing Activity, Lease Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Fixed lease expense - operating leases | $ 291 | $ 588 |
Variable lease expense | 80 | 153 |
Other | (9) | (17) |
Total lease costs | $ 362 | $ 724 |
Leasing Activity Leasing Acti_5
Leasing Activity Leasing Activity, Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases (Details) $ in Millions | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
2019, operating leases, prior to adoption of ASU 2016-02 | $ 1,174 |
2020, operating leases, prior to adoption of ASU 2016-02 | 1,056 |
2021, operating leases, prior to adoption of ASU 2016-02 | 880 |
2022, operating leases, prior to adoption of ASU 2016-02 | 713 |
2023, operating leases, prior to adoption of ASU 2016-02 | 577 |
Thereafter, operating leases, prior to adoption of ASU 2016-02 | 1,654 |
Total, operating leases, prior to adoption of ASU 2016-02 | $ 6,054 |
Leasing Activity Leasing Acti_6
Leasing Activity Leasing Activity, Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Operating Lease Liabilities, Payments Due [Abstract] | |
Remainder of 2019, operating leases, subsequent to adoption of ASU 2016-02 | $ 566 |
2020, operating leases, subsequent to adoption of ASU 2016-02 | 1,127 |
2021, operating leases, subsequent to adoption of ASU 2016-02 | 947 |
2022, operating leases, subsequent to adoption of ASU 2016-02 | 792 |
2023, operating leases, subsequent to adoption of ASU 2016-02 | 654 |
Thereafter, operating leases, subsequent to adoption of ASU 2016-02 | 2,054 |
Total lease payments, operating leases, subsequent to adoption of ASU 2016-02 | 6,140 |
Less: imputed interest | 838 |
Total operating lease liability | $ 5,302 |
Weighted average remaining lease term (in years) | 7 years 3 months 18 days |
Weighted average discount rate | 3.20% |
Leasing Activity Disclosures Textual [Abstract] | |
Operating lease, term of contract | 15 years |
Operating lease, term of contract, longest expiration year | 2105 |
Operating lease, not yet commenced, lease commitment amount | $ 72 |
Operating lease, not yet commenced, earliest year of commencement | 2020 |
Minimum [Member] | |
Leasing Activity Disclosures Textual [Abstract] | |
Operating lease, lease not yet commenced, term of contract | 1 year |
Maximum [Member] | |
Leasing Activity Disclosures Textual [Abstract] | |
Operating lease, lease not yet commenced, term of contract | 11 years |
Equity Securities (Details)
Equity Securities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | ||
Equity Securities [Line Items] | ||||||
Equity securities, carried at fair value | $ 35,950 | $ 35,950 | $ 29,556 | |||
Equity securities (includes $35,950 and $29,556 carried at fair value) (1) | [1] | 61,537 | 61,537 | 55,148 | ||
Equity Securities Disclosures Textual [Abstract] | ||||||
Securities held as economic hedges related to deferred compensation plan obligations | 3,500 | 3,500 | 3,200 | |||
Federal home loan bank stock and federal reserve bank stock | 5,600 | 5,600 | 5,600 | |||
Loss from Affordable Housing Projects, Equity Method Investments | 298 | $ 287 | 571 | $ 567 | ||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | 376 | 352 | 746 | 711 | ||
Affordable Housing Tax Credits, Amount | 303 | $ 281 | 605 | $ 571 | ||
Qualified Affordable Housing Project Investments, Commitment | 3,900 | $ 3,900 | 3,600 | |||
Affordable Housing Tax Credits Commitment, Payment Period | 3 years | |||||
Held for trading [Member] | Marketable equity securities [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, carried at fair value | 23,327 | $ 23,327 | 19,449 | |||
Not held for trading [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, carried at fair value | 12,623 | 12,623 | 10,107 | |||
Equity securities (includes $35,950 and $29,556 carried at fair value) (1) | 38,210 | 38,210 | 35,699 | |||
Not held for trading [Member] | Marketable equity securities [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, carried at fair value | 5,379 | 5,379 | 4,513 | |||
Not held for trading [Member] | Nonmarketable equity securities [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, carried at fair value | 7,244 | 7,244 | 5,594 | |||
Not held for trading [Member] | Equity Method Investments [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 17,859 | 17,859 | 18,215 | |||
Not held for trading [Member] | Low income housing tax credit equity method investments [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 11,162 | 11,162 | 10,999 | |||
Not held for trading [Member] | Private equity funds [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 3,352 | 3,352 | 3,832 | |||
Not held for trading [Member] | Tax advantaged renewable energy [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 3,051 | 3,051 | 3,073 | |||
Not held for trading [Member] | New market tax credit and other [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 294 | 294 | 311 | |||
Not held for trading [Member] | Investment in federal reserve bank stock and other at cost [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | 5,622 | 5,622 | 5,643 | |||
Not held for trading [Member] | Private equity [Member] | ||||||
Equity Securities [Line Items] | ||||||
Equity securities, not carried at fair value | $ 2,106 | $ 2,106 | $ 1,734 | |||
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Equity Securities, Net Gains (L
Equity Securities, Net Gains (Losses) Not Held for Trading (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Total net gains from equity securities | [1] | $ 622 | $ 295 | $ 1,436 | $ 1,078 |
Not designated as hedging instrument [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (990) | 595 | (3,628) | 545 | |
Not designated as hedging instrument [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (658) | (540) | (1,543) | (598) | |
Economic hedges [Member] | Not designated as hedging instrument [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 368 | (247) | 297 | (1,046) | |
Economic hedges [Member] | Not designated as hedging instrument [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (658) | (540) | (1,543) | (598) | |
Equity securities [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from equity securities carried at fair value | 996 | 622 | 2,309 | 739 | |
Marketable equity securities [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from equity securities carried at fair value | 264 | 28 | 641 | 36 | |
Nonmarketable equity securities [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from equity securities carried at fair value | 732 | 594 | 1,668 | 703 | |
Net gain (loss) from nonmarketable equity securities not carried at fair value | 284 | 213 | 670 | 937 | |
Nonmarketable equity securities [Member] | Impairment write-downs | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from nonmarketable equity securities not carried at fair value | (31) | (237) | (67) | (257) | |
Nonmarketable equity securities [Member] | Measurement alternative observable transactions [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from nonmarketable equity securities not carried at fair value | 146 | 35 | 331 | 263 | |
Nonmarketable equity securities [Member] | Realized gains on sale [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from nonmarketable equity securities not carried at fair value | 169 | 399 | 406 | 897 | |
Nonmarketable equity securities [Member] | Other [Member] | |||||
Net Gains (Losses) from Equity Securities [Line Items] | |||||
Net gain (loss) from nonmarketable equity securities not carried at fair value | $ 0 | $ 16 | $ 0 | $ 34 | |
[1] | (2) Includes OTTI losses of $31 million and $237 million for second quarter 2019 and 2018 , respectively, and $67 million and $257 million for the first half of 2019 and 2018 , respectively. |
Equity Securities, Gains (Losse
Equity Securities, Gains (Losses) Measurement Alternative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | ||
Net Gains (Losses) from Measurement Alternative Equity Securities | ||||||
Total net gains recognized during the period | [1] | $ 622 | $ 295 | $ 1,436 | $ 1,078 | |
Measurement alternative [Member] | Nonmarketable equity securities [Member] | ||||||
Net Gains (Losses) from Measurement Alternative Equity Securities | ||||||
Gross unrealized gains due to observable price changes | 157 | 43 | 342 | 271 | ||
Gross unrealized losses due to observable price changes | (11) | (8) | (11) | (8) | ||
Impairment write-downs | (11) | (5) | (33) | (12) | ||
Realized net gains from sale | 102 | 16 | 125 | 91 | ||
Total net gains recognized during the period | 237 | $ 46 | 423 | $ 342 | ||
Measurement Alternative Cumulative Gains (Losses) | ||||||
Cumulative gross unrealized gains due to observable price changes | 733 | 733 | $ 415 | |||
Cumulative gross unrealized losses due to observable price changes | (36) | (36) | (25) | |||
Cumulative impairment write-downs | $ (52) | $ (52) | $ (33) | |||
[1] | (2) Includes OTTI losses of $31 million and $237 million for second quarter 2019 and 2018 , respectively, and $67 million and $257 million for the first half of 2019 and 2018 , respectively. |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Components of Other Assets [Line Items] | ||
Corporate/bank-owned life insurance | $ 19,912 | $ 19,751 |
Accounts receivable (1) | 26,213 | 34,281 |
Interest receivable | 6,177 | 6,084 |
Net carrying value | 1,886 | 1,988 |
Other | 124 | 134 |
Operating lease ROU assets (lessee) | 4,776 | 0 |
Due from customers on acceptances | 272 | 258 |
Other | 9,489 | 9,444 |
Other assets | 76,358 | 79,850 |
Operating lease assets [Member] | ||
Components of Other Assets [Line Items] | ||
Other | 8,663 | 9,036 |
Not government insured/guaranteed [Member] | ||
Components of Other Assets [Line Items] | ||
Residential real estate | 185 | 229 |
Government insured/guaranteed [Member] | ||
Components of Other Assets [Line Items] | ||
Residential real estate | 68 | 88 |
Customer relationship and other amortized intangibles [Member] | ||
Components of Other Assets [Line Items] | ||
Net carrying value | $ 479 | $ 545 |
Securitizations and Variable _3
Securitizations and Variable Interest Entities, Balance Sheet Transactions with VIEs (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Cash | $ 20,880 | $ 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Trading debt securities | 70,208 | 69,989 | |
Available-for-sale, at fair value | 265,983 | 269,912 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 145,876 | 144,788 | |
Loans | [1] | 949,878 | 953,110 |
Mortgage servicing rights | 12,096 | 14,649 | |
Derivative assets | 13,162 | 10,770 | |
Equity securities | [1] | 61,537 | 55,148 |
Other assets | 76,358 | 79,850 | |
Total assets | [2] | 1,923,388 | 1,895,883 |
Short-term borrowings | 115,344 | 105,787 | |
Derivative liabilities | 8,399 | 8,499 | |
Accrued expenses and other liabilities | 69,706 | 69,317 | |
Long-term debt | 241,476 | 229,044 | |
Total liabilities | [3] | 1,723,351 | 1,698,817 |
Noncontrolling interests | 995 | 900 | |
VIEs that we consolidate recourse [member] | |||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Total liabilities | 0 | 0 | |
VIEs that we do not consolidate [Member] | |||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Cash | 0 | 0 | |
Interest-earning deposits with banks | 0 | 0 | |
Trading debt securities | 2,072 | 2,110 | |
Available-for-sale, at fair value | 1,879 | 2,686 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 560 | 510 | |
Loans | 1,214 | 1,433 | |
Mortgage servicing rights | 12,354 | 14,761 | |
Derivative assets | 143 | 53 | |
Equity securities | 11,211 | 11,041 | |
Other assets | 0 | 0 | |
Total assets | 29,433 | 32,594 | |
Short-term borrowings | 0 | 0 | |
Derivative liabilities | 1 | 26 | |
Accrued expenses and other liabilities | 198 | 231 | |
Long-term debt | 3,857 | 3,870 | |
Total liabilities | 4,056 | 4,127 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 25,377 | 28,467 | |
VIEs that we consolidate [Member] | |||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Cash | 11 | 139 | |
Interest-earning deposits with banks | 8 | 8 | |
Trading debt securities | 60 | 45 | |
Available-for-sale, at fair value | 0 | 0 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 0 | 0 | |
Loans | 13,602 | 13,564 | |
Mortgage servicing rights | 0 | 0 | |
Derivative assets | 0 | 0 | |
Equity securities | 121 | 85 | |
Other assets | 208 | 221 | |
Total assets | 14,010 | 14,062 | |
Short-term borrowings | 0 | 0 | |
Derivative liabilities | 1 | 0 | |
Accrued expenses and other liabilities | 201 | 191 | |
Long-term debt | 748 | 816 | |
Total liabilities | 950 | 1,007 | |
Noncontrolling interests | 41 | 34 | |
Net assets | 13,019 | 13,021 | |
Transfers that we account for as secured borrowings [Member] | |||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Cash | 0 | 0 | |
Interest-earning deposits with banks | 0 | 0 | |
Trading debt securities | 200 | 200 | |
Available-for-sale, at fair value | 68 | 317 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 0 | 0 | |
Loans | 87 | 94 | |
Mortgage servicing rights | 0 | 0 | |
Derivative assets | 0 | 0 | |
Equity securities | 0 | 0 | |
Other assets | 2 | 6 | |
Total assets | 357 | 617 | |
Short-term borrowings | 263 | 493 | |
Derivative liabilities | 0 | 0 | |
Accrued expenses and other liabilities | 2 | 8 | |
Long-term debt | 85 | 93 | |
Total liabilities | 350 | 594 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 7 | 23 | |
Total VIE [Member] | |||
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities | |||
Cash | 11 | 139 | |
Interest-earning deposits with banks | 8 | 8 | |
Trading debt securities | 2,332 | 2,355 | |
Available-for-sale, at fair value | 1,947 | 3,003 | |
Held-to-maturity, at cost (fair value $147,864 and $142,115) | 560 | 510 | |
Loans | 14,903 | 15,091 | |
Mortgage servicing rights | 12,354 | 14,761 | |
Derivative assets | 143 | 53 | |
Equity securities | 11,332 | 11,126 | |
Other assets | 210 | 227 | |
Total assets | 43,800 | 47,273 | |
Short-term borrowings | 263 | 493 | |
Derivative liabilities | 2 | 26 | |
Accrued expenses and other liabilities | 401 | 430 | |
Long-term debt | 4,690 | 4,779 | |
Total liabilities | 5,356 | 5,728 | |
Noncontrolling interests | 41 | 34 | |
Net assets | $ 38,403 | $ 41,511 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. | ||
[2] | (2) Our consolidated assets at June 30, 2019 , and December 31, 2018 , include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million ; Interest-earning deposits with banks, $8 million and $8 million ; Debt securities, $60 million and $45 million ; Net loans, $13.6 billion and $13.6 billion ; Equity securities, $121 million and $85 million ; Other assets, $208 million and $221 million ; and Total assets, $14.0 billion and $14.1 billion , respectively. | ||
[3] | (3) Our consolidated liabilities at June 30, 2019 , and December 31, 2018 , include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million ; Accrued expenses and other liabilities, $201 million and $191 million ; Long-term debt, $748 million and $816 million ; and Total liabilities, $950 million and $1.0 billion , respectively. |
Securitizations and Variable _4
Securitizations and Variable Interest Entities, Unconsolidated VIEs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Variable Interest Entity [Line Items] | |||||
Total VIE assets | $ 1,335,915 | $ 1,335,915 | $ 1,374,802 | ||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Carrying value of delinquent loans eligible for repurchase | 551 | 551 | 1,200 | ||
Principal amount that would be payable to securitization vehicles | 551 | 551 | 1,200 | ||
Equity Interests [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 11,200 | 11,200 | 11,000 | ||
Trust preferred securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (2,100) | (2,100) | (2,000) | ||
Trust preferred securities [Member] | Preferred Stock [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Carrying value - equity | 2,500 | 2,500 | 2,500 | ||
Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 1,132,124 | 1,132,124 | 1,172,833 | ||
Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 9,438 | 9,438 | 10,596 | ||
Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 154,690 | 154,690 | 153,350 | ||
Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 637 | 637 | 659 | ||
Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 244 | 244 | 304 | ||
Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 36,888 | 36,888 | 35,185 | ||
Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 176 | 176 | 2 | ||
Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 210 | 210 | 185 | ||
Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total VIE assets | 1,508 | 1,508 | 1,688 | ||
VIEs that we do not consolidate [Member] | Waived fees [Member] | |||||
Securitizations and Variable Interest Entities Textual [Abstract] | |||||
Financial support provided to a nonconsolidated legal entity | 10 | $ 12 | 20 | $ 25 | |
Debt and equity interests [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 16,936 | 16,936 | 17,780 | ||
Maximum exposure to loss | 16,936 | 16,936 | 17,780 | ||
Debt and equity interests [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 2,367 | 2,367 | 2,377 | ||
Maximum exposure to loss | 2,367 | 2,367 | 2,377 | ||
Debt and equity interests [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 37 | 37 | 453 | ||
Maximum exposure to loss | 37 | 37 | 453 | ||
Debt and equity interests [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 2,041 | 2,041 | 2,409 | ||
Maximum exposure to loss | 2,041 | 2,041 | 2,409 | ||
Debt and equity interests [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Debt and equity interests [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 143 | 143 | 205 | ||
Maximum exposure to loss | 143 | 143 | 205 | ||
Debt and equity interests [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 12,232 | 12,232 | 12,087 | ||
Maximum exposure to loss | 12,232 | 12,232 | 12,087 | ||
Debt and equity interests [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1 | 1 | 0 | ||
Maximum exposure to loss | 1 | 1 | 0 | ||
Debt and equity interests [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 49 | 49 | 42 | ||
Maximum exposure to loss | 49 | 49 | 42 | ||
Debt and equity interests [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 66 | 66 | 207 | ||
Maximum exposure to loss | 66 | 66 | 207 | ||
Servicing assets [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 12,354 | 12,354 | 14,761 | ||
Maximum exposure to loss | 12,354 | 12,354 | 14,761 | ||
Servicing assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 11,420 | 11,420 | 13,811 | ||
Maximum exposure to loss | 11,420 | 11,420 | 13,811 | ||
Servicing assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 57 | 57 | 57 | ||
Maximum exposure to loss | 57 | 57 | 57 | ||
Servicing assets [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 877 | 877 | 893 | ||
Maximum exposure to loss | 877 | 877 | 893 | ||
Servicing assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Servicing assets [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 142 | 142 | 27 | ||
Maximum exposure to loss | 143 | 143 | 78 | ||
Derivative [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 85 | 85 | (22) | ||
Maximum exposure to loss | 85 | 85 | 28 | ||
Derivative [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 4 | 4 | 5 | ||
Maximum exposure to loss | 4 | 4 | 5 | ||
Derivative [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Derivative [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 53 | 53 | 44 | ||
Maximum exposure to loss | 54 | 54 | 45 | ||
Other commitments and guarantees [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (4,055) | (4,055) | (4,101) | ||
Maximum exposure to loss | 14,532 | 14,532 | 14,415 | ||
Other commitments and guarantees [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (136) | (136) | (171) | ||
Maximum exposure to loss | 902 | 902 | 1,183 | ||
Other commitments and guarantees [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (42) | (42) | (40) | ||
Maximum exposure to loss | 12,007 | 12,007 | 11,563 | ||
Other commitments and guarantees [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (20) | (20) | (20) | ||
Maximum exposure to loss | 20 | 20 | 20 | ||
Other commitments and guarantees [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 71 | 71 | 71 | ||
Other commitments and guarantees [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (3,857) | (3,857) | (3,870) | ||
Maximum exposure to loss | 1,373 | 1,373 | 1,420 | ||
Other commitments and guarantees [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 0 | 0 | 0 | ||
Other commitments and guarantees [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 0 | 0 | 0 | ||
Maximum exposure to loss | 159 | 159 | 158 | ||
Total exposure [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 43,965 | 43,965 | 47,034 | ||
Total exposure [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 14,689 | 14,689 | 17,371 | ||
Total exposure [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 94 | 94 | 510 | ||
Total exposure [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 15,010 | 15,010 | 14,893 | ||
Total exposure [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 24 | 24 | 25 | ||
Total exposure [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 214 | 214 | 276 | ||
Total exposure [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 13,605 | 13,605 | 13,507 | ||
Total exposure [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 1 | 1 | 0 | ||
Total exposure [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 49 | 49 | 42 | ||
Total exposure [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum exposure to loss | 279 | 279 | 410 | ||
Net assets [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 25,377 | 25,377 | 28,467 | ||
Net assets [Member] | Conforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 13,651 | 13,651 | 16,017 | ||
Net assets [Member] | Other/Nonconforming Residential Mortgage Loan Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 94 | 94 | 510 | ||
Net assets [Member] | Commercial [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 2,961 | 2,961 | 3,240 | ||
Net assets [Member] | Collateralized Debt Obligations Debt Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | (16) | (16) | (15) | ||
Net assets [Member] | Asset-based finance structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 143 | 143 | 205 | ||
Net assets [Member] | Tax Credit Structures [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 8,375 | 8,375 | 8,217 | ||
Net assets [Member] | Collateralized loan obligations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 1 | 1 | 0 | ||
Net assets [Member] | Investment Funds [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | 49 | 49 | 42 | ||
Net assets [Member] | Other securitizations and transactions [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Carrying value asset (liability) | $ 119 | $ 119 | $ 251 |
Securitizations and Variable _5
Securitizations and Variable Interest Entities, Cash Flows From Sales and Securitization Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount paid to repurchase loans from securitization vehicles | $ 1,300 | $ 1,800 | $ 3,200 | $ 4,700 |
Net gain from sale of assets securitizations | 119 | 54 | 180 | 112 |
Mortgage loans [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Proceeds from securitizations and whole loan sales | 39,697 | 51,990 | 76,204 | 102,577 |
Fees from servicing rights retained | 786 | 830 | 1,566 | 1,675 |
Cash flows from other interests held | 133 | 168 | 244 | 353 |
Servicing advances, net of repayments | (54) | (7) | (93) | (43) |
Mortgage loans [Member] | Not government insured/guaranteed [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 1 | 1 | 1 | 2 |
Mortgage loans [Member] | Agency securitizations [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Repurchases of assets/loss reimbursements | 27 | 19 | 44 | 52 |
Other financial assets [Member] | ||||
Cash Flow Securitizations [Abstract] | ||||
Cash flows from other interests held | 1 | 1 | ||
Residential mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount transferred related to mortgages to unconsolidated VIE | 36,700 | 47,700 | 70,800 | 95,000 |
Commercial loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Net gain from sale of assets securitizations | 74 | 60 | 121 | 129 |
Amount transferred related to mortgages to unconsolidated VIE | $ 3,400 | $ 4,400 | 6,100 | 7,500 |
Fair Value, Inputs, Level 2 [Member] | Residential mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | 3,400 | 1,800 | ||
Fair Value, Inputs, Level 2 [Member] | Commercial loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Securities, at fair value | 0 | 208 | ||
Fair Value, Inputs, Level 3 [Member] | Residential mortgage [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of servicing asset at fair value | 707 | 988 | ||
Amount of liability for repurchase reserves at fair value | 8 | 7 | ||
Fair Value, Inputs, Level 3 [Member] | Commercial loan [Member] | ||||
Securitizations and Variable Interest Entities Textual [Abstract] | ||||
Amount of servicing asset at fair value | $ 59 | $ 73 |
Securitizations and Variable _6
Securitizations and Variable Interest Entities, Residential Mortgage Servicing Rights (Details) - Residential mortgage servicing rights [Member] - $ / loan | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] | ||||
Prepayment speed | 13.50% | 10.70% | 13.50% | 10.10% |
Discount rate | 7.50% | 7.40% | 7.70% | 7.40% |
Cost to service ($ per loan) | 121 | 146 | 109 | 132 |
Securitizations and Variable _7
Securitizations and Variable Interest Entities, Retained Interests from Unconsolidated VIEs (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)$ / loan | Dec. 31, 2018USD ($)$ / loan | |
Commercial mortgage servicing [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 of interests held | $ 1,900 | $ 2,300 |
Securitizations and Variable Interest Entities Textual [Abstract] | ||
Percentage of adverse change in interest rate | 25.00% | 25.00% |
Decrease in fair value from 25% adverse change in interest rate | $ 231 | $ 320 |
Residential mortgage servicing rights [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 of interests held | $ 12,096 | $ 14,649 |
Expected weighted-average life (in years) | 5 years 7 months 6 days | 6 years 6 months |
Key economic assumptions: | ||
Prepayment speed assumption | 12.20% | 9.90% |
Decrease in fair value from: | ||
10% adverse change | $ 526 | $ 530 |
25% adverse change | $ 1,239 | $ 1,301 |
Discount rate assumption | 7.40% | 8.10% |
Decrease in fair value from: | ||
100 basis point increase | $ 499 | $ 615 |
200 basis point increase | $ 954 | $ 1,176 |
Cost to service assumption ($ per loan) | $ / loan | 104 | 106 |
Decrease in fair value from: | ||
10% adverse change | $ 283 | $ 316 |
25% adverse change | 707 | 787 |
Interest-Only Strips [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 of interests held | $ 14 | $ 16 |
Expected weighted-average life (in years) | 3 years 4 months 24 days | 3 years 7 months 6 days |
Key economic assumptions: | ||
Prepayment speed assumption | 18.80% | 17.70% |
Decrease in fair value from: | ||
10% adverse change | $ 1 | $ 1 |
25% adverse change | $ 1 | $ 1 |
Discount rate assumption | 13.90% | 14.50% |
Decrease in fair value from: | ||
100 basis point increase | $ 0 | $ 0 |
200 basis point increase | 0 | 1 |
Subordinated bonds [Member] | Commercial securitizations [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 of interests held | $ 706 | $ 668 |
Expected weighted-average life (in years) | 7 years 2 months 12 days | 7 years |
Decrease in fair value from: | ||
Discount rate assumption | 3.50% | 4.30% |
Decrease in fair value from: | ||
100 basis point increase | $ 41 | $ 37 |
200 basis point increase | $ 79 | $ 72 |
Decrease in fair value from: | ||
Credit loss assumption | 4.40% | 5.10% |
Decrease in fair value from: | ||
10% higher losses | $ 2 | $ 2 |
25% higher losses | 5 | 5 |
Senior bonds [Member] | Commercial securitizations [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 of interests held | $ 302 | $ 309 |
Expected weighted-average life (in years) | 5 years 3 months 18 days | 5 years 8 months 12 days |
Decrease in fair value from: | ||
Discount rate assumption | 2.80% | 3.70% |
Decrease in fair value from: | ||
100 basis point increase | $ 14 | $ 14 |
200 basis point increase | $ 26 | $ 28 |
Decrease in fair value from: | ||
Credit loss assumption | 0.00% | 0.00% |
Decrease in fair value from: | ||
10% higher losses | $ 0 | $ 0 |
25% higher losses | $ 0 | $ 0 |
Securitizations and Variable _8
Securitizations and Variable Interest Entities, Off-Balance Sheet Loans Sold or Securitized (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | $ 1,153,079 | $ 1,202,301 | |
Delinquent loans and foreclosed assets | 8,605 | 9,955 | |
Net charge-offs | 199 | $ 401 | |
Government insured/guaranteed [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,100,000 | 1,100,000 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 364 | 442 | |
Delinquent loans | 5,700 | 6,400 | |
Total Commercial [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 107,239 | 105,173 | |
Delinquent loans and foreclosed assets | 955 | 1,008 | |
Net charge-offs | 89 | 151 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 583 | 675 | |
Commercial real estate mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 107,239 | 105,173 | |
Delinquent loans and foreclosed assets | 955 | 1,008 | |
Net charge-offs | 89 | 151 | |
Total Consumer [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,045,840 | 1,097,128 | |
Delinquent loans and foreclosed assets | 7,650 | 8,947 | |
Net charge-offs | 110 | 250 | |
Securitizations and Variable Interest Entities Textual [Abstract] | |||
Foreclosed assets | 507 | 582 | |
Real estate 1-4 family first mortgage [Member] | |||
Principal Balances - Off-Balance Sheet Securitized Loans [Abstract] | |||
Total loans | 1,045,840 | 1,097,128 | |
Delinquent loans and foreclosed assets | 7,650 | $ 8,947 | |
Net charge-offs | $ 110 | $ 250 |
Securitizations and Variable _9
Securitizations and Variable Interest Entities, Transactions with Consolidated VIEs and Secured Borrowings (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Variable Interest Entity [Line Items] | |||
Assets | [1] | $ 1,923,388 | $ 1,895,883 |
Liabilities | [2] | (1,723,351) | (1,698,817) |
Noncontrolling interests | (995) | (900) | |
Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 350 | 722 | |
Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 263 | 627 | |
Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 87 | 95 | |
Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,211 | 14,288 | |
Assets | 14,010 | 14,062 | |
Liabilities | (950) | (1,007) | |
Noncontrolling interests | (41) | (34) | |
Net assets | 13,019 | 13,021 | |
Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 4,794 | 3,957 | |
Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 7,742 | 8,215 | |
Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 1,475 | 1,947 | |
Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 194 | 155 | |
Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 6 | 14 | |
Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total VIE assets | 14,561 | 15,010 | |
Carrying amount [Member] | Total secured borrowings [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 357 | 617 | |
Liabilities | (350) | (594) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 7 | 23 | |
Carrying amount [Member] | Total secured borrowings [Member] | Municipal tender option bond securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 270 | 523 | |
Liabilities | (265) | (501) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 5 | 22 | |
Carrying amount [Member] | Total secured borrowings [Member] | Residential mortgage securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 87 | 94 | |
Liabilities | (85) | (93) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 2 | 1 | |
Carrying amount [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,010 | 14,062 | |
Liabilities | (950) | (1,007) | |
Noncontrolling interests | (41) | (34) | |
Net assets | 13,019 | 13,021 | |
Carrying amount [Member] | Consolidated VIEs [Member] | Commercial real estate loans [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 4,794 | 3,957 | |
Liabilities | 0 | 0 | |
Noncontrolling interests | 0 | 0 | |
Net assets | 4,794 | 3,957 | |
Carrying amount [Member] | Consolidated VIEs [Member] | Commercial and Industrial Loans and Leases [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 7,728 | 8,204 | |
Liabilities | (490) | (477) | |
Noncontrolling interests | (13) | (14) | |
Net assets | 7,225 | 7,713 | |
Carrying amount [Member] | Consolidated VIEs [Member] | Nonconforming residential mortgage loan securitizations [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 1,288 | 1,732 | |
Liabilities | (452) | (521) | |
Noncontrolling interests | 0 | 0 | |
Net assets | 836 | 1,211 | |
Carrying amount [Member] | Consolidated VIEs [Member] | Investment funds [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 194 | 155 | |
Liabilities | (6) | (5) | |
Noncontrolling interests | (24) | (15) | |
Net assets | 164 | 135 | |
Carrying amount [Member] | Consolidated VIEs [Member] | Other securitizations and transactions [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 6 | 14 | |
Liabilities | (2) | (4) | |
Noncontrolling interests | (4) | (5) | |
Net assets | 0 | 5 | |
Carrying amount [Member] | Total secured borrowings and consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Assets | 14,367 | 14,679 | |
Liabilities | (1,300) | (1,601) | |
Noncontrolling interests | (41) | (34) | |
Net assets | $ 13,026 | $ 13,044 | |
[1] | (2) Our consolidated assets at June 30, 2019 , and December 31, 2018 , include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million ; Interest-earning deposits with banks, $8 million and $8 million ; Debt securities, $60 million and $45 million ; Net loans, $13.6 billion and $13.6 billion ; Equity securities, $121 million and $85 million ; Other assets, $208 million and $221 million ; and Total assets, $14.0 billion and $14.1 billion , respectively. | ||
[2] | (3) Our consolidated liabilities at June 30, 2019 , and December 31, 2018 , include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million ; Accrued expenses and other liabilities, $201 million and $191 million ; Long-term debt, $748 million and $816 million ; and Total liabilities, $950 million and $1.0 billion , respectively. |
Mortgage Banking Activities, An
Mortgage Banking Activities, Analysis of Changes in Fair Value MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | $ 14,649 | |||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ (1,078) | $ 345 | (1,969) | $ 1,675 |
Changes due to collection/realization of expected cash flows over time | (561) | (460) | (1,043) | (943) |
Total changes in fair value | (1,639) | (115) | (3,012) | 732 |
Fair value, end of period | 12,096 | 12,096 | ||
Carried at fair value [Member] | ||||
Changes in MSRs measured at fair value | ||||
Fair value, beginning of period | 13,336 | 15,041 | 14,649 | 13,625 |
Servicing from securitizations or asset transfers (1) | 400 | 486 | 741 | 1,059 |
Sales and other (2) | (1) | (1) | (282) | (5) |
Net additions | 399 | 485 | 459 | 1,054 |
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (1,078) | 345 | (1,969) | 1,675 |
Changes due to collection/realization of expected cash flows over time | (561) | (460) | (1,043) | (943) |
Total changes in fair value | (1,639) | (115) | (3,012) | 732 |
Fair value, end of period | 12,096 | 15,411 | 12,096 | 15,411 |
Carried at fair value [Member] | Mortgage interest rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (1,153) | 376 | (2,093) | 1,629 |
Carried at fair value [Member] | Servicing and foreclosure costs [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (22) | 30 | (10) | 64 |
Carried at fair value [Member] | Discount rates [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | (109) | 0 | (9) | 0 |
Carried at fair value [Member] | Prepayment estimates and other [Member] | ||||
Changes in fair value: | ||||
Net changes in valuation model inputs or assumptions | $ 206 | $ (61) | $ 143 | $ (18) |
Mortgage Banking Activities, _2
Mortgage Banking Activities, Analysis of Changes in Amortized MSRs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Changes in amortized MSRs | ||||
Amortization | $ (69) | $ (65) | $ (135) | $ (130) |
Amortized [Member] | ||||
Changes in amortized MSRs | ||||
Balance, beginning of period | 1,427 | 1,411 | 1,443 | 1,424 |
Purchases | 16 | 22 | 40 | 40 |
Servicing from securitizations or asset transfers | 33 | 39 | 59 | 73 |
Amortization | (69) | (65) | (135) | (130) |
Balance, end of period | 1,407 | 1,407 | 1,407 | 1,407 |
Fair value of amortized MSRs: | ||||
Beginning of period | 2,149 | 2,307 | 2,288 | 2,025 |
End of period | 1,897 | 2,309 | 1,897 | 2,309 |
Commercial mortgage servicing [Member] | Amortized [Member] | ||||
Mortgage Banking Activities (Textual) [Abstract] | ||||
Valuation allowance | $ 0 | $ 0 | $ 0 | $ 0 |
Mortgage Banking Activities, Ma
Mortgage Banking Activities, Managed Servicing Portfolio (Details) - USD ($) $ in Billions | Jun. 30, 2019 | Dec. 31, 2018 |
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,655 | $ 1,707 |
Total managed servicing portfolio | $ 2,132 | $ 2,175 |
Ratio of MSRs to related loans serviced for others | 0.82% | 0.94% |
Residential mortgage servicing rights [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | $ 1,107 | $ 1,164 |
Owned loans serviced | 340 | 334 |
Subserviced for others | 5 | 4 |
Total managed servicing portfolio | 1,452 | 1,502 |
Commercial mortgage servicing [Member] | ||
Components of Managed Servicing Portfolio [Abstract] | ||
Serviced for others | 548 | 543 |
Owned loans serviced | 123 | 121 |
Subserviced for others | 9 | 9 |
Total managed servicing portfolio | $ 680 | $ 673 |
Mortgage Banking Activities, Mo
Mortgage Banking Activities, Mortgage Banking Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Servicing fees: | ||||
Contractually specified servicing fees | $ 846 | $ 901 | $ 1,686 | $ 1,817 |
Late charges | 30 | 42 | 63 | 86 |
Ancillary fees | 38 | 47 | 76 | 87 |
Unreimbursed direct servicing costs | (84) | (85) | (154) | (179) |
Net servicing fees | 830 | 905 | 1,671 | 1,811 |
Changes in fair value of MSRs carried at fair value: | ||||
Due to changes in valuation model inputs or assumptions | (1,078) | 345 | (1,969) | 1,675 |
Changes due to collection/realization of expected cash flows over time | (561) | (460) | (1,043) | (943) |
Total changes in fair value of MSRs carried at fair value | (1,639) | (115) | (3,012) | 732 |
Amortization | (69) | (65) | (135) | (130) |
Net Derivative Gains (Losses) From Economic Hedges Related To Mortgage Servicing Activities | 1,155 | (319) | 2,117 | (1,539) |
Total servicing income, net | 277 | 406 | 641 | 874 |
Net gains on mortgage loan origination/sales activities (4) | 481 | 364 | 825 | 830 |
Total mortgage banking noninterest income | 758 | 770 | 1,466 | 1,704 |
Market-related valuation changes to MSRs, net of hedge results | 77 | 26 | 148 | 136 |
Net Derivative Gains (Losses) From Economic Hedges Related To Mortgage Loans Held for Sale and Derivative Loan Commitments | $ (283) | $ 134 | $ (434) | $ 759 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized intangible assets: | ||||
Gross carrying value | $ 8,197 | $ 20,989 | ||
Accumulated amortization | (6,311) | (19,001) | ||
Net carrying value | 1,886 | 1,988 | ||
Unamortized intangible assets: | ||||
Mortgage servicing rights | 12,096 | 14,649 | ||
Goodwill | 26,415 | 26,418 | $ 26,429 | $ 26,587 |
Trademark | 14 | 14 | ||
MSRs [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 4,260 | 4,161 | ||
Accumulated amortization | (2,853) | (2,718) | ||
Net carrying value | 1,407 | 1,443 | ||
Core deposit intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 0 | 12,834 | ||
Accumulated amortization | 0 | (12,834) | ||
Net carrying value | 0 | 0 | ||
Customer relationship and other intangibles [Member] | ||||
Amortized intangible assets: | ||||
Gross carrying value | 3,937 | 3,994 | ||
Accumulated amortization | (3,458) | (3,449) | ||
Net carrying value | $ 479 | $ 545 |
Intangible Assets, Amortization
Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2019 (actual) | $ 27 | $ 265 | $ 55 | $ 530 |
Estimate for the remainder of 2019 | 191 | 191 | ||
Estimate for year ended December 31, | ||||
2020 | 344 | 344 | ||
2021 | 294 | 294 | ||
2022 | 256 | 256 | ||
2023 | 218 | 218 | ||
2024 | 182 | 182 | ||
Finite lived intangible assets [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2019 (actual) | 194 | |||
Amortized MSRs [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2019 (actual) | 135 | |||
Estimate for the remainder of 2019 | 136 | 136 | ||
Estimate for year ended December 31, | ||||
2020 | 249 | 249 | ||
2021 | 213 | 213 | ||
2022 | 188 | 188 | ||
2023 | 159 | 159 | ||
2024 | 134 | 134 | ||
Customer relationship and other amortized intangibles [Member] | ||||
Finite-Lived Intangible Assets, Future Amortization Expense, Current and Five Succeeding Fiscal Years [Abstract] | ||||
Six months ended June 30, 2019 (actual) | 59 | |||
Estimate for the remainder of 2019 | 55 | 55 | ||
Estimate for year ended December 31, | ||||
2020 | 95 | 95 | ||
2021 | 81 | 81 | ||
2022 | 68 | 68 | ||
2023 | 59 | 59 | ||
2024 | $ 48 | $ 48 |
Intangible Assets, Allocation o
Intangible Assets, Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 26,418 | $ 26,587 |
Reclassification of goodwill held for sale to other assets | (7) | (155) |
Reduction in goodwill related to divested businesses and other | (3) | |
Goodwill, Foreign Currency Translation Gain (Loss) | 4 | |
Goodwill, Ending Balance | 26,415 | 26,429 |
Goodwill classified as held-for-sale in other assets | 7 | 155 |
Community Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 16,685 | 16,849 |
Reclassification of goodwill held for sale to other assets | 0 | (155) |
Reduction in goodwill related to divested businesses and other | 0 | |
Goodwill, Foreign Currency Translation Gain (Loss) | 0 | |
Goodwill, Ending Balance | 16,685 | 16,694 |
Wholesale Banking [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 8,450 | 8,455 |
Reclassification of goodwill held for sale to other assets | 0 | 0 |
Reduction in goodwill related to divested businesses and other | (3) | |
Goodwill, Foreign Currency Translation Gain (Loss) | 4 | |
Goodwill, Ending Balance | 8,454 | 8,452 |
Wealth and Investment Management [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,283 | 1,283 |
Reclassification of goodwill held for sale to other assets | (7) | 0 |
Reduction in goodwill related to divested businesses and other | 0 | |
Goodwill, Foreign Currency Translation Gain (Loss) | 0 | |
Goodwill, Ending Balance | $ 1,276 | $ 1,283 |
Guarantees, Pledged Assets an_3
Guarantees, Pledged Assets and Collateral (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | $ (279) | $ (90) | |
Maximum exposure to loss, expires in one year or less | 27,402 | 32,872 | |
Maximum exposure to loss, expires in one year through three years | 19,502 | 19,053 | |
Maximum exposure to loss, expires in three years through five years | 7,912 | 7,674 | |
Maximum exposure to loss, expires after five years | 16,442 | 15,063 | |
Maximum exposure to loss | 71,258 | 74,662 | |
Total assets | [1] | 1,923,388 | 1,895,883 |
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 3,500 | 4,400 | |
Mortgages held for sale | 2,000 | 7,400 | |
Carrying value of delinquent loans eligible for repurchase | 551 | 1,200 | |
Security Owned and Pledged as Collateral, Fair Value [Abstract] | |||
Equity Securities, Trading | 23,327 | 19,449 | |
Total pledged assets, Trading | 106,509 | 100,316 | |
Total pledged assets | 588,562 | 622,643 | |
Related to non-trading activities [Member] | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | |||
Debt securities and other, non-trading activities | 56,413 | 62,438 | |
Mortgages held for sale and loans | 413,882 | 453,894 | |
Total pledged assets | 470,295 | 516,332 | |
Collateral Pledged [Member] | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | |||
Debt Securities, Trading | 107,673 | 96,616 | |
Equity Securities, Trading | 10,594 | 9,695 | |
Total pledged assets, Trading | 118,267 | 106,311 | |
Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 33,698 | 39,591 | |
Written put options [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | (371) | (185) | |
Maximum exposure to loss, expires in one year or less | 12,574 | 17,243 | |
Maximum exposure to loss, expires in one year through three years | 11,682 | 10,502 | |
Maximum exposure to loss, expires in three years through five years | 2,803 | 3,066 | |
Maximum exposure to loss, expires after five years | 386 | 400 | |
Maximum exposure to loss | 27,445 | 31,211 | |
Written put options [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 15,882 | 21,732 | |
Direct pay letters of credit (DPLCs) [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 6,400 | 7,500 | |
Third Party Clearing Indemnifications [Member] | |||
Guarantor Obligations [Line Items] | |||
Third-party Clearing Customer Obligations | 90 | 70 | |
Collateral Provided to Third-party Clearing Agents | 759 | 974 | |
Standby Letters of Credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | 38 | 40 | |
Maximum exposure to loss, expires in one year or less | 14,078 | 14,636 | |
Maximum exposure to loss, expires in one year through three years | 7,185 | 7,897 | |
Maximum exposure to loss, expires in three years through five years | 3,901 | 3,398 | |
Maximum exposure to loss, expires after five years | 464 | 497 | |
Maximum exposure to loss | 25,628 | 26,428 | |
Standby Letters of Credit [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 7,938 | 8,027 | |
Securities lending and other indemnifications [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | 0 | 0 | |
Maximum exposure to loss, expires in one year or less | 0 | 0 | |
Maximum exposure to loss, expires in one year through three years | 1 | 1 | |
Maximum exposure to loss, expires in three years through five years | 0 | 0 | |
Maximum exposure to loss, expires after five years | 849 | 1,044 | |
Maximum exposure to loss | 850 | 1,045 | |
Securities lending and other indemnifications [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 1 | 1 | |
Loans and MHFS sold with recourse [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | 53 | 54 | |
Maximum exposure to loss, expires in one year or less | 111 | 104 | |
Maximum exposure to loss, expires in one year through three years | 634 | 653 | |
Maximum exposure to loss, expires in three years through five years | 1,205 | 1,207 | |
Maximum exposure to loss, expires after five years | 10,597 | 10,163 | |
Maximum exposure to loss | 12,547 | 12,127 | |
Loans and MHFS sold with recourse [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 9,318 | 9,079 | |
Factoring guarantee [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | 0 | 0 | |
Maximum exposure to loss, expires in one year or less | 639 | 889 | |
Maximum exposure to loss, expires in one year through three years | 0 | 0 | |
Maximum exposure to loss, expires in three years through five years | 0 | 0 | |
Maximum exposure to loss, expires after five years | 0 | 0 | |
Maximum exposure to loss | 639 | 889 | |
Factoring guarantee [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 558 | 751 | |
Other guarantees [Member] | |||
Guarantor Obligations [Line Items] | |||
Carrying Value obligation (asset) | 1 | 1 | |
Maximum exposure to loss, expires in one year or less | 0 | 0 | |
Maximum exposure to loss, expires in one year through three years | 0 | 0 | |
Maximum exposure to loss, expires in three years through five years | 3 | 3 | |
Maximum exposure to loss, expires after five years | 4,146 | 2,959 | |
Maximum exposure to loss | 4,149 | 2,962 | |
Other guarantees [Member] | Non-investment grade [Member] | |||
Guarantor Obligations [Line Items] | |||
Maximum exposure to loss | 1 | 1 | |
Trading assets and other [Member] | |||
Guarantor Obligations [Line Items] | |||
Securities owned and pledged as collateral available to be repledged, Fair Value | 118,200 | 106,200 | |
Trading assets and other [Member] | Collateral Pledged [Member] | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | |||
Total pledged assets, Trading | 45,900 | 45,500 | |
Other Trading - Off-Balance Sheet [Member] | Collateral Pledged [Member] | |||
Security Owned and Pledged as Collateral, Fair Value [Abstract] | |||
Total pledged assets, Trading | 72,300 | 60,800 | |
Debt securities and other [Member] | Related to non-trading activities [Member] | |||
Guarantor Obligations [Line Items] | |||
Securities owned and pledged as collateral available to be repledged, Fair Value | 33 | 68 | |
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, carrying value | 3,500 | 4,200 | |
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | 3,500 | 4,100 | |
Consolidated VIEs [Member] | |||
Guarantor Obligations [Line Items] | |||
Total assets | 14,010 | 14,062 | |
Secured Borrowing transactions excluded [Member] | |||
Guarantor Obligations [Line Items] | |||
Total assets | $ 357 | $ 617 | |
[1] | (2) Our consolidated assets at June 30, 2019 , and December 31, 2018 , include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million ; Interest-earning deposits with banks, $8 million and $8 million ; Debt securities, $60 million and $45 million ; Net loans, $13.6 billion and $13.6 billion ; Equity securities, $121 million and $85 million ; Other assets, $208 million and $221 million ; and Total assets, $14.0 billion and $14.1 billion , respectively. |
Guarantees, Offsetting of Resal
Guarantees, Offsetting of Resale and Repurchase Agreements and Securities Borrowing and Lending (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Securities owned and pledged as collateral related to repurchase agreements not available to be repledged, Fair Value | $ 3,500 | $ 4,400 |
Net amounts in consolidated balance sheet | 130,848 | 97,404 |
Collateral received, fair value | 157,400 | 123,100 |
Collateral received with the right to sell or repledge | 157,400 | 123,100 |
Collateral sold or repledged | 73,400 | 60,800 |
Collateral pledged, fair value | 119,600 | 108,800 |
Resale and securities borrowing agreements | ||
Gross amounts recognized | 146,096 | 112,662 |
Gross amounts offset in consolidated balance sheet | (15,248) | (15,258) |
Net amounts in consolidated balance sheet | 130,848 | 97,404 |
Collateral not recognized in consolidated balance sheet | (130,082) | (96,734) |
Net amount | 766 | 670 |
Repurchase and securities lending agreements | ||
Gross amounts recognized | 116,900 | 106,248 |
Gross amounts offset in consolidated balance sheet | (15,248) | (15,258) |
Net amounts in consolidated balance sheet | 101,652 | 90,990 |
Collateral pledged but not netted in consolidated balance sheet | (101,476) | (90,798) |
Net amount | 176 | 192 |
Fed Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 112,100 | 80,100 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | 112,100 | 80,100 |
Loans [Member] | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Net amounts in consolidated balance sheet | 18,800 | 17,300 |
Resale and securities borrowing agreements | ||
Net amounts in consolidated balance sheet | $ 18,800 | $ 17,300 |
Guarantees, Pledged Assets an_4
Guarantees, Pledged Assets and Collateral, and other Commitments Guarantees, Collateral Type and Contractual Maturities of Repurchase Agreements and Securities Lending Agreements (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | $ 108,109 | $ 97,280 |
Securities Lending | 8,791 | 8,968 |
Total Repurchases and Securities Lending | 116,900 | 106,248 |
Securities of U.S. Treasury and federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 49,622 | 38,408 |
Securities Lending | 198 | 222 |
Securities of U.S. states and political subdivisions [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 97 | 159 |
Federal agencies [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 43,346 | 47,241 |
Securities Lending | 0 | 2 |
Non-Agency Mortgage-backed Securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 1,754 | 1,875 |
Corporate debt securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 8,132 | 6,191 |
Securities Lending | 483 | 389 |
Asset-backed securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 2,258 | 2,074 |
Equity securities [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 2,034 | 992 |
Securities Lending | 8,094 | 8,349 |
Other [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 866 | 340 |
Securities Lending | 16 | 6 |
Overnight/Continuous [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 96,487 | 86,574 |
Securities Lending | 8,643 | 8,669 |
Total Repurchases and Securities Lending | 105,130 | 95,243 |
Up to 30 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 3,565 | 3,244 |
Securities Lending | 0 | 0 |
Total Repurchases and Securities Lending | 3,565 | 3,244 |
30-90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 3,938 | 2,153 |
Securities Lending | 148 | 299 |
Total Repurchases and Securities Lending | 4,086 | 2,452 |
Over 90 days [Member] | ||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement [Abstract] | ||
Repurchase Agreements | 4,119 | 5,309 |
Securities Lending | 0 | 0 |
Total Repurchases and Securities Lending | $ 4,119 | $ 5,309 |
Guarantees, Pledged Assets an_5
Guarantees, Pledged Assets and Collateral, and other Commitments Guarantees, Pledged Assets and Collateral, Other Commitments Guarantees, and Other Commitments (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | ||
Other Commitments [Line Items] | |||
Resale Agreements, Funded Amounts Outstanding | $ 0 | $ 0 | |
Resale Agreements, Unfunded Commitments | $ 5,100 | 9,800 | |
Description of Guarantees Given by Registrant | The Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue. | ||
Liabilities | [1] | $ 1,723,351 | 1,698,817 |
Other commitments and guarantees [Member] | Wells Fargo Finance, LLC [Member] | |||
Other Commitments [Line Items] | |||
Liabilities | 545 | 5 | |
Purchase Commitment [Member] | Debt securities [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 212 | 335 | |
Purchase Commitment [Member] | Equity securities [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | $ 2,100 | $ 2,500 | |
[1] | (3) Our consolidated liabilities at June 30, 2019 , and December 31, 2018 , include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million ; Accrued expenses and other liabilities, $201 million and $191 million ; Long-term debt, $748 million and $816 million ; and Total liabilities, $950 million and $1.0 billion , respectively. |
Legal Actions (Details)
Legal Actions (Details) $ in Millions | Nov. 30, 2016USD ($) | Jul. 13, 2012USD ($) | May 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018USD ($) | Oct. 31, 2018USD ($) | Aug. 31, 2018USD ($) | Jun. 30, 2019USD ($)legal_action | Apr. 20, 2017USD ($) | Apr. 20, 2018USD ($) | Jul. 31, 2017 | Nov. 17, 2016legal_action | May 31, 2016 | Dec. 31, 2015legal_action |
ATM Access Fee Litigation [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 3 | |||||||||||||
Automobile Lending Practices [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 1 | |||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 424 | |||||||||||||
Automobile Lending Practices [Member] | All Class Members [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Litigation Settlement, Additional Funding | $ 1 | |||||||||||||
Retail Sales Practices, CPI and GAP, and Mortgage interest rate lock matters [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Payments for Legal Settlements | $ 575 | |||||||||||||
Civil Money Penalty | $ 1,000 | |||||||||||||
Interchange Litigation [Member] | ||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||
Litigation Settlement, Percentage Of Default Interchange Distributed To Class Merchants | 0.10% | |||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 6,600 | |||||||||||||
Litigation Settlement, Default Interchange Distributed To Class Merchants, Distribution Period | 8 months | |||||||||||||
Litigation Settlement, Expense | $ 6,200 | |||||||||||||
Litigation Settlement, Funds Remaining from 2012 | 5,300 | |||||||||||||
Litigation Settlement, Additional Funding | 900 | |||||||||||||
Litigation Settlement, Additional Funding Allocated to WFC | $ 94.5 | |||||||||||||
Mortgage Interest Rate Lock [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 2 | |||||||||||||
Mortgage Related Regulatory Investigations [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Payments for Legal Settlements | $ 17 | $ 2,090 | ||||||||||||
RMBS Trustee Litigation [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Payments for Legal Settlements | $ 43 | |||||||||||||
Loss Contingency, Pending Claims, Number | legal_action | 4 | |||||||||||||
Sales Practice Matters [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Amounts To Be Paid In Connection With Legal Or Regulatory Matters | $ 142 | |||||||||||||
Payments for Legal Settlements | $ 65 | |||||||||||||
Gain Contingency, Estimate of Possible Insurance Carriers Payments | $ 240 | |||||||||||||
Unauthorized accounts identified | 3,500,000 | |||||||||||||
Sales Practice Matters [Member] | All Class Members [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Amounts To Be Paid In Connection With Legal Or Regulatory Matters | $ 25 | |||||||||||||
Payments for Legal Settlements | $ 480 | |||||||||||||
RMBS Trustee Punitive Class Action Complaint [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
RMBS trusts at issue in the State Court Action | 261 | |||||||||||||
RMBS Trustee Litigation Civil Complaint [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
RMBS trusts at issue in the State Court Action | 11 | |||||||||||||
Liability for Contingent Litigation Losses [Member] | ||||||||||||||
Legal Actions (Textual) [Abstract] | ||||||||||||||
Range of possible loss, portion not accrued | $ 3,900 |
Derivatives, Notional or Contra
Derivatives, Notional or Contractual Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | $ 40,050 | $ 34,560 |
Fair value derivative assets, netting | (26,888) | (23,790) |
Net amounts in consolidated balance sheet, assets | 13,162 | 10,770 |
Fair value derivative liabilities | 38,116 | 32,047 |
Fair value derivative liabilities, netting | (29,717) | (23,548) |
Net amounts in consolidated balance sheet, liabilities | 8,399 | 8,499 |
Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (16,558) | (12,029) |
Net amounts in consolidated balance sheet, assets | 8,995 | 6,406 |
Fair value derivative liabilities, netting | (18,046) | (13,152) |
Net amounts in consolidated balance sheet, liabilities | 2,591 | 3,156 |
Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (951) | (849) |
Net amounts in consolidated balance sheet, assets | 473 | 739 |
Fair value derivative liabilities, netting | (738) | (727) |
Net amounts in consolidated balance sheet, liabilities | 1,198 | 1,609 |
Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (5,041) | (5,318) |
Net amounts in consolidated balance sheet, assets | 2,336 | 2,227 |
Fair value derivative liabilities, netting | (5,934) | (3,877) |
Net amounts in consolidated balance sheet, liabilities | 3,244 | 2,133 |
Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (4,250) | (5,355) |
Net amounts in consolidated balance sheet, assets | 1,305 | 1,359 |
Fair value derivative liabilities, netting | (4,918) | (5,522) |
Net amounts in consolidated balance sheet, liabilities | 1,350 | 1,591 |
Credit Contracts Protection Sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (9) | (73) |
Net amounts in consolidated balance sheet, assets | 6 | 3 |
Fair value derivative liabilities, netting | (75) | (180) |
Net amounts in consolidated balance sheet, liabilities | 5 | 2 |
Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets, netting | (79) | (166) |
Net amounts in consolidated balance sheet, assets | 47 | 36 |
Fair value derivative liabilities, netting | (6) | (90) |
Net amounts in consolidated balance sheet, liabilities | 11 | 8 |
Designated as Hedging Instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 3,099 | 2,810 |
Fair value derivative liabilities | 2,530 | 2,012 |
Designated as Hedging Instrument [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 186,206 | 177,511 |
Fair value derivative assets | 2,559 | 2,237 |
Fair value derivative liabilities | 1,368 | 636 |
Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 33,439 | 34,176 |
Fair value derivative assets | 540 | 573 |
Fair value derivative liabilities | 1,162 | 1,376 |
Not designated as hedging instrument [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 36,951 | 31,750 |
Fair value derivative liabilities | 35,586 | 30,035 |
Not designated as hedging instrument [Member] | Economic hedges [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 2,155 | 2,463 |
Fair value derivative liabilities | 1,033 | 528 |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 255,760 | 173,215 |
Fair value derivative assets | 692 | 849 |
Fair value derivative liabilities | 290 | 369 |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 17,374 | 13,920 |
Fair value derivative assets | 1,213 | 1,362 |
Fair value derivative liabilities | 658 | 79 |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 20,829 | 19,521 |
Fair value derivative assets | 212 | 225 |
Fair value derivative liabilities | 85 | 80 |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 220 | 100 |
Fair value derivative assets | 38 | 27 |
Fair value derivative liabilities | 0 | 0 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Fair value derivative assets | 34,796 | 29,287 |
Fair value derivative liabilities | 34,553 | 29,507 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Interest rate contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 11,130,569 | 9,162,821 |
Fair value derivative assets | 22,302 | 15,349 |
Fair value derivative liabilities | 18,979 | 15,303 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Commodity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 72,255 | 66,173 |
Fair value derivative assets | 1,424 | 1,588 |
Fair value derivative liabilities | 1,936 | 2,336 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Equity contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 246,045 | 217,890 |
Fair value derivative assets | 6,164 | 6,183 |
Fair value derivative liabilities | 8,520 | 5,931 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 353,918 | 364,982 |
Fair value derivative assets | 4,803 | 5,916 |
Fair value derivative liabilities | 5,021 | 5,657 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Credit Contracts Protection Sold [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 10,507 | 11,741 |
Fair value derivative assets | 15 | 76 |
Fair value derivative liabilities | 80 | 182 |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Credit Contracts Protection Purchased [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | 20,784 | 20,880 |
Fair value derivative assets | 88 | 175 |
Fair value derivative liabilities | 17 | 98 |
Basis swap [Member] | Designated as Hedging Instrument [Member] | Foreign exchange contract [Member] | ||
Notional Or Contractual Amounts And Fair Values For Derivatives [Abstract] | ||
Notional or contractual amount | $ 10,000 | $ 11,200 |
Derivatives, Gross Fair Value o
Derivatives, Gross Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Derivative Assets | ||
Gross amounts recognized | $ 40,050 | $ 34,560 |
Gross amounts offset in consolidated balance sheet | (26,888) | (23,790) |
Net amounts in consolidated balance sheet, assets | 13,162 | 10,770 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (357) | (875) |
Net amounts | 12,805 | 9,895 |
Derivative Liabilities | ||
Gross amounts recognized | 38,116 | 32,047 |
Gross amounts offset in consolidated balance sheet, liabilities | (29,717) | (23,548) |
Net amounts in consolidated balance sheet, liabilities | 8,399 | 8,499 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1,262) | (875) |
Net amounts | 7,137 | 7,624 |
Derivatives (Textual) [Abstract] | ||
Derivative assets subject to enforceable master netting arrangements | 35,100 | 30,900 |
Derivative liabilities subject to enforceable master netting arrangements | 34,900 | 28,400 |
Derivative assets not subject to enforceable master netting arrangements | 5,000 | 3,700 |
Derivative liabilities not subject to enforceable master netting arrangements | 3,200 | 3,600 |
Valuation adjustments for derivative assets | 301 | 353 |
Valuation adjustments for derivative liabilities | 92 | 152 |
Cash collateral netted against derivative assets | 3,600 | 3,700 |
Cash collateral netted against derivative liabilities | 6,600 | 3,600 |
Interest rate contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | 25,553 | 18,435 |
Gross amounts offset in consolidated balance sheet | (16,558) | (12,029) |
Net amounts in consolidated balance sheet, assets | 8,995 | 6,406 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (313) | (80) |
Net amounts | $ 8,682 | $ 6,326 |
Percent exchanged in the over the counter market | 95.00% | 90.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 20,637 | $ 16,308 |
Gross amounts offset in consolidated balance sheet, liabilities | (18,046) | (13,152) |
Net amounts in consolidated balance sheet, liabilities | 2,591 | 3,156 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (848) | (567) |
Net amounts | $ 1,743 | $ 2,589 |
Percent exchanged in over-the-counter market | 95.00% | 92.00% |
Commodity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 1,424 | $ 1,588 |
Gross amounts offset in consolidated balance sheet | (951) | (849) |
Net amounts in consolidated balance sheet, assets | 473 | 739 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1) | (4) |
Net amounts | $ 472 | $ 735 |
Percent exchanged in the over the counter market | 73.00% | 57.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 1,936 | $ 2,336 |
Gross amounts offset in consolidated balance sheet, liabilities | (738) | (727) |
Net amounts in consolidated balance sheet, liabilities | 1,198 | 1,609 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | (8) |
Net amounts | $ 1,198 | $ 1,601 |
Percent exchanged in over-the-counter market | 81.00% | 85.00% |
Equity contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 7,377 | $ 7,545 |
Gross amounts offset in consolidated balance sheet | (5,041) | (5,318) |
Net amounts in consolidated balance sheet, assets | 2,336 | 2,227 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (34) | (755) |
Net amounts | $ 2,302 | $ 1,472 |
Percent exchanged in the over the counter market | 71.00% | 78.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 9,178 | $ 6,010 |
Gross amounts offset in consolidated balance sheet, liabilities | (5,934) | (3,877) |
Net amounts in consolidated balance sheet, liabilities | 3,244 | 2,133 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (214) | (110) |
Net amounts | $ 3,030 | $ 2,023 |
Percent exchanged in over-the-counter market | 84.00% | 75.00% |
Foreign exchange contract [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 5,555 | $ 6,714 |
Gross amounts offset in consolidated balance sheet | (4,250) | (5,355) |
Net amounts in consolidated balance sheet, assets | 1,305 | 1,359 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (8) | (35) |
Net amounts | $ 1,297 | $ 1,324 |
Percent exchanged in the over the counter market | 100.00% | 100.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 6,268 | $ 7,113 |
Gross amounts offset in consolidated balance sheet, liabilities | (4,918) | (5,522) |
Net amounts in consolidated balance sheet, liabilities | 1,350 | 1,591 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (197) | (188) |
Net amounts | $ 1,153 | $ 1,403 |
Percent exchanged in over-the-counter market | 100.00% | 100.00% |
Credit Contracts Protection Sold [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 15 | $ 76 |
Gross amounts offset in consolidated balance sheet | (9) | (73) |
Net amounts in consolidated balance sheet, assets | 6 | 3 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 6 | $ 3 |
Percent exchanged in the over the counter market | 74.00% | 12.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 80 | $ 182 |
Gross amounts offset in consolidated balance sheet, liabilities | (75) | (180) |
Net amounts in consolidated balance sheet, liabilities | 5 | 2 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (3) | (2) |
Net amounts | $ 2 | $ 0 |
Percent exchanged in over-the-counter market | 99.00% | 67.00% |
Credit Contracts Protection Purchased [Member] | ||
Derivative Assets | ||
Gross amounts recognized | $ 126 | $ 202 |
Gross amounts offset in consolidated balance sheet | (79) | (166) |
Net amounts in consolidated balance sheet, assets | 47 | 36 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | (1) | (1) |
Net amounts | $ 46 | $ 35 |
Percent exchanged in the over the counter market | 99.00% | 78.00% |
Derivative Liabilities | ||
Gross amounts recognized | $ 17 | $ 98 |
Gross amounts offset in consolidated balance sheet, liabilities | (6) | (90) |
Net amounts in consolidated balance sheet, liabilities | 11 | 8 |
Gross amounts not offset in consolidated balance sheet (Disclosure-only netting) | 0 | 0 |
Net amounts | $ 11 | $ 8 |
Percent exchanged in over-the-counter market | 98.00% | 11.00% |
Derivatives, Derivatives in Fai
Derivatives, Derivatives in Fair Value and Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Line Items Presented in the Consolidated Statement of Income [Abstract] | ||||
Debt securities | $ 3,781 | $ 3,594 | $ 7,722 | $ 7,008 |
Loans | 11,316 | 10,912 | 22,670 | 21,491 |
Mortgage loans held for sale | 195 | 198 | 347 | 377 |
Deposits (2) | (2,213) | (1,268) | (4,239) | (2,358) |
Long-term debt (2) | (1,900) | (1,658) | (3,827) | (3,234) |
Other | 744 | 485 | 1,318 | 1,087 |
Total amounts of line items presented in the consolidated statement of income | 11,923 | 12,263 | 23,991 | 24,371 |
Derivatives (Textual) [Abstract] | ||||
Cash flow hedge deferred loss in other comprehensive income | (247) | |||
Time value component recognized as net interest income (expense) on forward derivatives excluded from the assessment of hedge effectiveness | 7 | 2 | $ 14 | 2 |
Maximum length of time hedged in cash flow hedge | 7 years | |||
Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | (4) | (205) | $ (76) | (312) |
Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | (79) | (77) | (158) | (137) |
Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 14 | 18 | 0 | 101 |
Recognized on derivatives | 2,184 | (499) | 3,555 | (2,084) |
Recognized on hedged items | (2,113) | 452 | (3,426) | 1,950 |
Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | (76) | (77) | (154) | (137) |
Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | (118) | (92) | (250) | (167) |
Recognized on derivatives | 526 | (1,311) | 412 | (818) |
Recognized on hedged items | (497) | 1,227 | (367) | 706 |
Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | (3) | 0 | (4) | 0 |
Debt securities [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | 30 | (25) | 60 | (119) |
Debt securities [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | 0 | 0 | 0 | 0 |
Debt securities [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 14 | (42) | 30 | (124) |
Recognized on derivatives | (1,089) | 356 | (1,903) | 1,306 |
Recognized on hedged items | 1,096 | (352) | 1,913 | (1,320) |
Debt securities [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Debt securities [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 10 | 10 | 20 | 15 |
Recognized on derivatives | (5) | 2 | (9) | 6 |
Recognized on hedged items | 4 | 1 | 9 | (2) |
Debt securities [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Loans [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | 0 | 0 | 0 | 0 |
Loans [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | (77) | (77) | (155) | (137) |
Loans [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 1 |
Recognized on hedged items | 0 | 0 | 0 | (1) |
Loans [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | (77) | (77) | (155) | (137) |
Loans [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Loans [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Mortgage loans held for sale [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | (1) | (3) | (2) | (6) |
Mortgage loans held for sale [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | 0 | 0 | 0 | 0 |
Mortgage loans held for sale [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | (1) | 0 | (2) |
Recognized on derivatives | (25) | 5 | (33) | 11 |
Recognized on hedged items | 24 | (7) | 31 | (15) |
Mortgage loans held for sale [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Mortgage loans held for sale [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Mortgage loans held for sale [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Deposits [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | 1 | (30) | (5) | (43) |
Deposits [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | 0 | 0 | 0 | 0 |
Deposits [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | (7) | (20) | (30) | (25) |
Recognized on derivatives | 351 | (41) | 558 | (190) |
Recognized on hedged items | (343) | 31 | (533) | 172 |
Deposits [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Deposits [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Deposits [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Long-term debt [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | (45) | (45) | (129) | (75) |
Long-term debt [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | (2) | 0 | (3) | 0 |
Long-term debt [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 7 | 81 | 0 | 252 |
Recognized on derivatives | 2,947 | (819) | 4,933 | (3,212) |
Recognized on hedged items | (2,890) | 780 | (4,837) | 3,114 |
Long-term debt [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 1 | 0 | 1 | 0 |
Long-term debt [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | (128) | (102) | (270) | (182) |
Recognized on derivatives | 205 | 97 | 497 | (74) |
Recognized on hedged items | (186) | (82) | (452) | 27 |
Long-term debt [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | (3) | 0 | (4) | 0 |
Other noninterest income [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Net income (expense) recognized on fair value hedges | 11 | (102) | 0 | (69) |
Other noninterest income [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Net income (expense) recognized on cash flow hedges | 0 | 0 | 0 | 0 |
Other noninterest income [Member] | Interest rate contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 0 | 0 | 0 | 0 |
Recognized on hedged items | 0 | 0 | 0 | 0 |
Other noninterest income [Member] | Interest rate contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | 0 | 0 | 0 | 0 |
Other noninterest income [Member] | Foreign exchange contract [Member] | Fair Value Hedging [Member] | ||||
Gains (losses) on fair value hedging relationships | ||||
Amounts related to interest settlements on derivatives | 0 | 0 | 0 | 0 |
Recognized on derivatives | 326 | (1,410) | (76) | (750) |
Recognized on hedged items | (315) | 1,308 | 76 | 681 |
Other noninterest income [Member] | Foreign exchange contract [Member] | Cash Flow Hedging [Member] | ||||
Gains (losses) on cash flow hedging relationships | ||||
Realized gains (losses) (pre tax) reclassified from cumulative OCI into net income | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives, Fair Value Hedging
Derivatives, Fair Value Hedging Basis Adjustment (Details) - Fair Value Hedging [Member] - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Hedged Items Currently Designated [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | $ 39,478 | $ 37,857 |
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | 1,226 | (157) |
Hedged Items Currently Designated [Member] | Mortgage loans held for sale [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 852 | 448 |
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | 16 | 7 |
Hedged Items Currently Designated [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of (Liabilities) | (56,584) | (56,535) |
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | (425) | 115 |
Hedged Items Currently Designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of (Liabilities) | (115,922) | (104,341) |
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | (5,999) | (742) |
Not designated as hedging instrument [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 5,704 | 4,938 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 110 | 238 |
Not designated as hedging instrument [Member] | Mortgage loans held for sale [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 388 | 0 |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 4 | 0 |
Not designated as hedging instrument [Member] | Deposits [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of (Liabilities) | 0 | 0 |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 0 | 0 |
Not designated as hedging instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of (Liabilities) | (25,638) | (25,539) |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Basis Adjustments | 270 | 366 |
Foreign exchange contract [Member] | Hedged Items Currently Designated [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of Assets | 1,500 | 1,600 |
Foreign exchange contract [Member] | Hedged Items Currently Designated [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Carrying Amount of (Liabilities) | (5,700) | (6,300) |
Re-designated as hedging instrument [Member] | Debt securities [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedged Asset, Fair Value Hedge, Cumulative Basis Adjustments | 828 | 1,400 |
Re-designated as hedging instrument [Member] | Long-term debt [Member] | ||
Fair Value Hedging Basis Adjustment [Abstract] | ||
Hedged Liability, Fair Value Hedge, Cumulative Basis Adjustments | $ 99 | $ 66 |
Derivatives, Derivatives Not De
Derivatives, Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Derivatives (Textual) [Abstract] | |||||
Gains (losses) on derivatives used to hedge residential mortgage servicing rights | $ 1,155 | $ (319) | $ 2,117 | $ (1,539) | |
Net Derivative Gains (Losses) From Economic Hedges Related To Mortgage Loans Held for Sale and Derivative Loan Commitments | (283) | 134 | (434) | 759 | |
Not designated as hedging instrument [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (990) | 595 | (3,628) | 545 | |
Not designated as hedging instrument [Member] | Mortgage banking [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 1,051 | (231) | 1,980 | (1,085) | |
Not designated as hedging instrument [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (658) | (540) | (1,543) | (598) | |
Not designated as hedging instrument [Member] | Net gain (loss) from trading activities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,404) | 959 | (3,816) | 2,162 | |
Not designated as hedging instrument [Member] | Other [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 21 | 407 | (249) | 66 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 368 | (247) | 297 | (1,046) | |
Derivatives (Textual) [Abstract] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Loss | (18) | (36) | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain | 8 | 36 | |||
Not designated as hedging instrument [Member] | Economic hedges [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 874 | (188) | 1,690 | (774) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (665) | (535) | (1,543) | (593) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 164 | 486 | 140 | 327 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (5) | (10) | 10 | (6) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Mortgage banking [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 872 | (185) | 1,683 | (780) | |
Derivatives (Textual) [Abstract] | |||||
Fair Value of Net Asset (Liability) From Economic Hedges Related To Mortgage Servicing Activities | 602 | 602 | $ 757 | ||
Not designated as hedging instrument [Member] | Economic hedges [Member] | Mortgage banking [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 872 | (185) | 1,683 | (780) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Mortgage banking [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Mortgage banking [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Mortgage banking [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (658) | (540) | (1,543) | (598) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from equity securities [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from equity securities [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (658) | (540) | (1,543) | (598) | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from equity securities [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from equity securities [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from trading activities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Net gain (loss) from trading activities [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Other [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 154 | 478 | 157 | 332 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Other [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 2 | (3) | 7 | 6 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Other [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (7) | 5 | 0 | 5 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Other [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 164 | 486 | 140 | 327 | |
Not designated as hedging instrument [Member] | Economic hedges [Member] | Other [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (5) | (10) | 10 | (6) | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,358) | 842 | (3,925) | 1,591 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (43) | 136 | (209) | 262 | |
Derivatives (Textual) [Abstract] | |||||
Aggregate fair value of derivative loan commitments net asset (liability) | 94 | 94 | $ 60 | ||
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 27 | 35 | 78 | 74 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,243) | 584 | (3,665) | 848 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (83) | 91 | (69) | 401 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (16) | (4) | (60) | 6 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 179 | (46) | 297 | (305) | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 179 | (46) | 297 | (305) | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Mortgage banking [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from equity securities [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,404) | 959 | (3,816) | 2,162 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (222) | 182 | (506) | 567 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 27 | 35 | 78 | 74 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (1,110) | 655 | (3,259) | 1,114 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (83) | 91 | (69) | 401 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Net gain (loss) from trading activities [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (16) | (4) | (60) | 6 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (133) | (71) | (406) | (266) | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | Interest contracts [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | Commodity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | Equity contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | (133) | (71) | (406) | (266) | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | Foreign exchange contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | 0 | 0 | 0 | 0 | |
Not designated as hedging instrument [Member] | Customer accommodation trading, and other derivatives [Member] | Other [Member] | Credit contract [Member] | |||||
Net Gains Losses Recognized In Income Statement Related To Derivatives Not Designated As Hedging Instruments [Abstract] | |||||
Net gains (losses) recognized related to derivatives not designated as hedging instruments | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives, Sold and Purchased
Derivatives, Sold and Purchased Credit Derivatives (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | $ 80 | $ 182 |
Notional amount Protection sold | 10,507 | 11,741 |
Notional amount Protection purchased with identical underlyings | 1,991 | 3,898 |
Notional Net protection sold | 8,516 | 7,843 |
Notional Other protection purchased | 19,013 | 17,082 |
Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | 6,723 | 6,629 |
Corporate bonds [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 1 | 59 |
Notional amount Protection sold | 1,995 | 2,037 |
Notional amount Protection purchased with identical underlyings | 1,362 | 1,374 |
Notional Net protection sold | 633 | 663 |
Notional Other protection purchased | $ 2,021 | $ 1,460 |
Corporate bonds [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2019 | Jan. 1, 2019 |
Corporate bonds [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2029 | Dec. 31, 2027 |
Corporate bonds [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 472 | $ 441 |
Structured products [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 31 | 62 |
Notional amount Protection sold | 138 | 133 |
Notional amount Protection purchased with identical underlyings | 109 | 121 |
Notional Net protection sold | 29 | 12 |
Notional Other protection purchased | $ 113 | $ 113 |
Structured products [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2022 | Jan. 1, 2022 |
Structured products [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2047 | Dec. 31, 2047 |
Structured products [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 133 | $ 128 |
Credit default swap [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 0 | 1 |
Notional amount Protection sold | 1,897 | 3,618 |
Notional amount Protection purchased with identical underlyings | 163 | 1,998 |
Notional Net protection sold | 1,734 | 1,620 |
Notional Other protection purchased | $ 3,923 | $ 2,896 |
Credit default swap [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2019 | Jan. 1, 2019 |
Credit default swap [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2029 | Dec. 31, 2028 |
Credit default swap [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 194 | $ 582 |
Commercial [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 38 | 49 |
Notional amount Protection sold | 342 | 389 |
Notional amount Protection purchased with identical underlyings | 316 | 363 |
Notional Net protection sold | 26 | 26 |
Notional Other protection purchased | $ 51 | $ 51 |
Commercial [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2047 | Jan. 1, 2047 |
Commercial [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2058 | Dec. 31, 2058 |
Commercial [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 87 | $ 109 |
Asset-backed securities [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 8 | 9 |
Notional amount Protection sold | 41 | 42 |
Notional amount Protection purchased with identical underlyings | 41 | 42 |
Notional Net protection sold | 0 | 0 |
Notional Other protection purchased | $ 1 | $ 1 |
Asset-backed securities [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2045 | Jan. 1, 2045 |
Asset-backed securities [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2046 | Dec. 31, 2046 |
Asset-backed securities [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 41 | $ 42 |
Other Credit Derivatives [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Fair value liability | 2 | 2 |
Notional amount Protection sold | 6,094 | 5,522 |
Notional amount Protection purchased with identical underlyings | 0 | 0 |
Notional Net protection sold | 6,094 | 5,522 |
Notional Other protection purchased | $ 12,904 | $ 12,561 |
Other Credit Derivatives [Member] | Minimum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Jan. 1, 2019 | Jan. 1, 2018 |
Other Credit Derivatives [Member] | Maximum [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Derivative range of maturity dates | Dec. 31, 2048 | Dec. 31, 2048 |
Other Credit Derivatives [Member] | Non-investment grade [Member] | ||
Details of Sold and Purchased Credit Derivatives [Abstract] | ||
Notional amount Protection sold | $ 5,796 | $ 5,327 |
Derivatives Credit-Risk Conting
Derivatives Credit-Risk Contingent Feature Textuals (Details) - USD ($) $ in Billions | Jun. 30, 2019 | Dec. 31, 2018 |
Derivatives [Abstract] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features, net liability | $ 10.7 | $ 7.4 |
Collateral for derivative instruments with credit-risk-related contingent features | 9.2 | 5.6 |
Additional collateral for derivative instruments with credit-risk-related contingent features | $ 1.5 | $ 1.8 |
Fair Value, Measurements From B
Fair Value, Measurements From Brokers or Third Party Pricing Services (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Financial assets | |||
Trading debt securities | $ 70,208 | $ 69,989 | |
Available-for-sale, at fair value | 265,983 | 269,912 | |
Marketable equity securities | 35,950 | 29,556 | |
Equity securities | [1] | 61,537 | 55,148 |
Derivative assets | 40,050 | 34,560 | |
Financial liabilities | |||
Derivative liabilities | (38,116) | (32,047) | |
Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 15,319 | 13,348 | |
Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 45,095 | 49,264 | |
Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 161,301 | 160,203 | |
Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 5,043 | 5,483 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Derivative assets | 0 | 0 | |
Financial liabilities | |||
Derivative liabilities | 0 | 0 | |
Other liabilities (2) | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 1 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Financial assets | |||
Derivative assets | 0 | 0 | |
Financial liabilities | |||
Derivative liabilities | 0 | 0 | |
Other liabilities (2) | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 45 | 45 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 45 | 45 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 2 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Financial assets | |||
Derivative assets | 0 | 0 | |
Financial liabilities | |||
Derivative liabilities | 0 | 0 | |
Other liabilities (2) | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 130 | 129 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 130 | 129 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 0 | 0 | |
Brokers [Member] | Fair Value, Inputs, Level 3 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Derivative assets | 12 | 17 | |
Financial liabilities | |||
Derivative liabilities | (13) | (12) | |
Other liabilities (2) | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 534 | 899 | |
Available-for-sale, at fair value | 12,324 | 10,399 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 12,324 | 10,399 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 1 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Financial assets | |||
Derivative assets | 0 | 0 | |
Financial liabilities | |||
Derivative liabilities | (2) | 0 | |
Other liabilities (2) | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 319 | 256 | |
Available-for-sale, at fair value | 250,844 | 255,780 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 2,995 | 2,949 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 44,642 | 48,377 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 161,260 | 160,162 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 41,947 | 44,292 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 160 | 159 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 160 | 158 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 2 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | 0 | 1 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Financial assets | |||
Derivative assets | 0 | 0 | |
Financial liabilities | |||
Derivative liabilities | 0 | 0 | |
Other liabilities (2) | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Debt securities [Member] | |||
Financial assets | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 742 | 842 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. Treasury and federal agencies [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 38 | 43 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 41 | 41 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities [Member] | |||
Financial assets | |||
Available-for-sale, at fair value | 663 | 758 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Equity securities [Member] | |||
Financial assets | |||
Equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Marketable equity securities [Member] | |||
Financial assets | |||
Marketable equity securities | 0 | 0 | |
Third party pricing services [Member] | Fair Value, Inputs, Level 3 [Member] | Nonmarketable equity securities [Member] | |||
Financial assets | |||
Nonmarketable equity securities | $ 0 | $ 0 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Fair Value, Assets and Liabilit
Fair Value, Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Assets: | |||
Trading debt securities | $ 70,208 | $ 69,989 | |
Available-for-sale, at fair value | 265,983 | 269,912 | |
Mortgage servicing rights | 12,096 | 14,649 | |
Derivative assets | 40,050 | 34,560 | |
Net amounts in consolidated balance sheet, assets | 13,162 | 10,770 | |
Marketable equity securities | 35,950 | 29,556 | |
Equity securities | [1] | 61,537 | 55,148 |
Liabilities: | |||
Total derivative liabilities | (38,116) | (32,047) | |
Fair value liability derivatives, net | (8,399) | (8,499) | |
Interest rate contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 8,995 | 6,406 | |
Liabilities: | |||
Fair value liability derivatives, net | (2,591) | (3,156) | |
Commodity contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 473 | 739 | |
Liabilities: | |||
Fair value liability derivatives, net | (1,198) | (1,609) | |
Equity contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 2,336 | 2,227 | |
Liabilities: | |||
Fair value liability derivatives, net | (3,244) | (2,133) | |
Foreign exchange contract [Member] | |||
Assets: | |||
Net amounts in consolidated balance sheet, assets | 1,305 | 1,359 | |
Liabilities: | |||
Fair value liability derivatives, net | (1,350) | (1,591) | |
US Treasury and Government [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 15,319 | 13,348 | |
Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 45,095 | 49,264 | |
Mortgage-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 161,301 | 160,203 | |
Federal agencies [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 155,858 | 153,203 | |
Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,263 | 2,775 | |
Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,180 | 4,225 | |
Corporate debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 6,230 | 6,271 | |
Collateralized loan obligations [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 32,995 | 35,343 | |
Collateralized debt obligations [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 649 | 800 | |
Other debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 5,043 | 5,483 | |
Fair Value, Measurements, Recurring [Member] | |||
Assets: | |||
Mortgage loans held for sale | 16,343 | 11,771 | |
Loans held for sale | 1,118 | 1,469 | |
Loans | 202 | 244 | |
Mortgage servicing rights | 12,096 | 14,649 | |
Fair value asset derivatives, netting | (26,888) | (23,790) | |
Net amounts in consolidated balance sheet, assets | 13,162 | 10,770 | |
Total assets recorded at fair value | 415,062 | 408,360 | |
Liabilities: | |||
Fair value liability derivatives, netting | 29,717 | 23,548 | |
Fair value liability derivatives, net | (8,399) | (8,499) | |
Total short sale liabilities | (15,955) | (19,720) | |
Other liabilities (2) | (2) | (2) | |
Total liabilities recorded at fair value | (24,356) | (28,221) | |
Fair Value, Measurements, Recurring [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 414,944 | 408,258 | |
Fair Value, Measurements, Recurring [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivative assets | 25,553 | 18,435 | |
Liabilities: | |||
Total derivative liabilities | (20,637) | (16,308) | |
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivative assets | 1,424 | 1,588 | |
Liabilities: | |||
Total derivative liabilities | (1,936) | (2,336) | |
Fair Value, Measurements, Recurring [Member] | Equity contract [Member] | |||
Assets: | |||
Derivative assets | 7,377 | 7,545 | |
Liabilities: | |||
Total derivative liabilities | (9,178) | (6,010) | |
Fair Value, Measurements, Recurring [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivative assets | 5,555 | 6,714 | |
Liabilities: | |||
Total derivative liabilities | (6,268) | (7,113) | |
Fair Value, Measurements, Recurring [Member] | Credit Risk Contract [Member] | |||
Assets: | |||
Derivative assets | 141 | 278 | |
Liabilities: | |||
Total derivative liabilities | (97) | (280) | |
Fair Value, Measurements, Recurring [Member] | Debt securities [Member] | |||
Assets: | |||
Trading debt securities | 70,208 | 69,989 | |
Available-for-sale, at fair value | 265,983 | 269,912 | |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | |||
Assets: | |||
Trading debt securities | 18,225 | 23,417 | |
Available-for-sale, at fair value | 15,319 | 13,348 | |
Liabilities: | |||
Total short sale liabilities | (7,998) | (12,261) | |
Fair Value, Measurements, Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading debt securities | 3,314 | 3,275 | |
Available-for-sale, at fair value | 45,095 | 49,264 | |
Fair Value, Measurements, Recurring [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Trading debt securities | 27 | 22 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 35,186 | 30,715 | |
Available-for-sale, at fair value | 161,301 | 160,203 | |
Fair Value, Measurements, Recurring [Member] | Federal agencies [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 155,858 | 153,203 | |
Fair Value, Measurements, Recurring [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,263 | 2,775 | |
Fair Value, Measurements, Recurring [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,180 | 4,225 | |
Fair Value, Measurements, Recurring [Member] | Mortgage backed securities, other [Member] | |||
Liabilities: | |||
Total short sale liabilities | (533) | (47) | |
Fair Value, Measurements, Recurring [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading debt securities | 11,365 | 10,757 | |
Available-for-sale, at fair value | 6,230 | 6,271 | |
Liabilities: | |||
Total short sale liabilities | (4,887) | (4,505) | |
Fair Value, Measurements, Recurring [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Trading debt securities | 1,007 | 910 | |
Available-for-sale, at fair value | 32,995 | 35,343 | |
Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 1,084 | 893 | |
Available-for-sale, at fair value | 5,036 | 5,482 | |
Liabilities: | |||
Total short sale liabilities | (10) | ||
Fair Value, Measurements, Recurring [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 889 | 925 | |
Fair Value, Measurements, Recurring [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 14 | 112 | |
Fair Value, Measurements, Recurring [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,133 | 4,445 | |
Fair Value, Measurements, Recurring [Member] | Other debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 7 | 1 | |
Fair Value, Measurements, Recurring [Member] | Equity securities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (2,527) | (2,904) | |
Fair Value, Measurements, Recurring [Member] | Equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Equity securities | 35,832 | 29,454 | |
Fair Value, Measurements, Recurring [Member] | Marketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Marketable equity securities | 28,706 | 23,962 | |
Fair Value, Measurements, Recurring [Member] | Nonmarketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Nonmarketable equity securities | 7,126 | 5,492 | |
Fair Value, Measurements, Recurring [Member] | Other securities sold, not yet purchased [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | (3) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets: | |||
Mortgage loans held for sale | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 2,219 | 1,711 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (1,577) | (1,525) | |
Total short sale liabilities | (10,295) | (14,752) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (11,872) | (16,277) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 58,037 | 55,874 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivative assets | 45 | 46 | |
Liabilities: | |||
Total derivative liabilities | (55) | (21) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivative assets | 0 | 0 | |
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivative assets | 2,162 | 1,648 | |
Liabilities: | |||
Total derivative liabilities | (1,509) | (1,492) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivative assets | 12 | 17 | |
Liabilities: | |||
Total derivative liabilities | (13) | (12) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Credit Risk Contract [Member] | |||
Assets: | |||
Derivative assets | 0 | 0 | |
Liabilities: | |||
Total derivative liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Debt securities [Member] | |||
Assets: | |||
Trading debt securities | 15,010 | 20,525 | |
Available-for-sale, at fair value | 12,361 | 10,433 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | |||
Assets: | |||
Trading debt securities | 15,010 | 20,525 | |
Available-for-sale, at fair value | 12,324 | 10,399 | |
Liabilities: | |||
Total short sale liabilities | (7,768) | (11,850) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal agencies [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage backed securities, other [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 37 | 34 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Liabilities: | |||
Total short sale liabilities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | |||
Liabilities: | |||
Total short sale liabilities | (2,527) | (2,902) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Equity securities | 28,447 | 23,205 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Marketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Marketable equity securities | 28,447 | 23,205 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Nonmarketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Nonmarketable equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other securities sold, not yet purchased [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets: | |||
Mortgage loans held for sale | 15,228 | 10,774 | |
Loans held for sale | 1,106 | 1,409 | |
Loans | 0 | 0 | |
Mortgage servicing rights | 0 | 0 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 35,546 | 31,279 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (34,237) | (28,973) | |
Total short sale liabilities | (5,660) | (4,968) | |
Other liabilities (2) | 0 | 0 | |
Total liabilities recorded at fair value | (39,897) | (33,941) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 358,863 | 350,852 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivative assets | 25,258 | 18,294 | |
Liabilities: | |||
Total derivative liabilities | (20,537) | (16,217) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivative assets | 1,404 | 1,535 | |
Liabilities: | |||
Total derivative liabilities | (1,887) | (2,287) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivative assets | 3,300 | 4,582 | |
Liabilities: | |||
Total derivative liabilities | (5,526) | (3,186) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivative assets | 5,522 | 6,689 | |
Liabilities: | |||
Total derivative liabilities | (6,224) | (7,067) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Credit Risk Contract [Member] | |||
Assets: | |||
Derivative assets | 62 | 179 | |
Liabilities: | |||
Total derivative liabilities | (63) | (216) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Debt securities [Member] | |||
Assets: | |||
Trading debt securities | 54,891 | 49,174 | |
Available-for-sale, at fair value | 251,817 | 257,435 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | |||
Assets: | |||
Trading debt securities | 3,215 | 2,892 | |
Available-for-sale, at fair value | 2,995 | 2,949 | |
Liabilities: | |||
Total short sale liabilities | (230) | (411) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading debt securities | 3,314 | 3,272 | |
Available-for-sale, at fair value | 44,704 | 48,820 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Trading debt securities | 13 | 6 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 35,186 | 30,715 | |
Available-for-sale, at fair value | 161,260 | 160,162 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Federal agencies [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 155,858 | 153,203 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 1,263 | 2,775 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 4,139 | 4,184 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage backed securities, other [Member] | |||
Liabilities: | |||
Total short sale liabilities | (533) | (47) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading debt securities | 11,321 | 10,723 | |
Available-for-sale, at fair value | 5,810 | 5,867 | |
Liabilities: | |||
Total short sale liabilities | (4,887) | (4,505) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Trading debt securities | 758 | 673 | |
Available-for-sale, at fair value | 32,346 | 34,543 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 1,084 | 893 | |
Available-for-sale, at fair value | 4,695 | 5,093 | |
Liabilities: | |||
Total short sale liabilities | (10) | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 889 | 925 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 14 | 112 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 3,792 | 4,056 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 7 | 1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity securities [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | (2) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Equity securities | 275 | 781 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Marketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Marketable equity securities | 259 | 757 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Nonmarketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Nonmarketable equity securities | 16 | 24 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other securities sold, not yet purchased [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | (3) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets: | |||
Mortgage loans held for sale | 1,115 | 997 | |
Loans held for sale | 12 | 60 | |
Loans | 202 | 244 | |
Mortgage servicing rights | 12,096 | 14,649 | |
Fair value asset derivatives, netting | 0 | 0 | |
Net amounts in consolidated balance sheet, assets | 2,285 | 1,570 | |
Total assets recorded at fair value | 24,900 | 25,300 | |
Liabilities: | |||
Fair value liability derivatives, netting | 0 | 0 | |
Fair value liability derivatives, net | (2,302) | (1,549) | |
Total short sale liabilities | 0 | 0 | |
Other liabilities (2) | (2) | (2) | |
Total liabilities recorded at fair value | (2,304) | (1,551) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Total assets recorded at fair value | 24,932 | 25,322 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | |||
Assets: | |||
Derivative assets | 250 | 95 | |
Liabilities: | |||
Total derivative liabilities | (45) | (70) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contract [Member] | |||
Assets: | |||
Derivative assets | 20 | 53 | |
Liabilities: | |||
Total derivative liabilities | (49) | (49) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | |||
Assets: | |||
Derivative assets | 1,915 | 1,315 | |
Liabilities: | |||
Total derivative liabilities | (2,143) | (1,332) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign exchange contract [Member] | |||
Assets: | |||
Derivative assets | 21 | 8 | |
Liabilities: | |||
Total derivative liabilities | (31) | (34) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit Risk Contract [Member] | |||
Assets: | |||
Derivative assets | 79 | 99 | |
Liabilities: | |||
Total derivative liabilities | (34) | (64) | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Debt securities [Member] | |||
Assets: | |||
Trading debt securities | 307 | 290 | |
Available-for-sale, at fair value | 1,805 | 2,044 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 0 | 0 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Securities of U.S. states and political subdivisions [Member] | |||
Assets: | |||
Trading debt securities | 0 | 3 | |
Available-for-sale, at fair value | 391 | 444 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other trading debt securities [Member] | |||
Assets: | |||
Trading debt securities | 14 | 16 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 41 | 41 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Federal agencies [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Residential [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 41 | 41 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage backed securities, other [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | |||
Assets: | |||
Trading debt securities | 44 | 34 | |
Available-for-sale, at fair value | 383 | 370 | |
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized loan obligations [Member] | |||
Assets: | |||
Trading debt securities | 249 | 237 | |
Available-for-sale, at fair value | 649 | 800 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized debt obligations [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 649 | 800 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member] | |||
Assets: | |||
Trading debt securities | 0 | 0 | |
Available-for-sale, at fair value | 341 | 389 | |
Liabilities: | |||
Total short sale liabilities | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Auto loans and leases [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Home equity loans [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other asset-backed securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 341 | 389 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other debt securities [Member] | |||
Assets: | |||
Available-for-sale, at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity securities [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Equity securities | 7,110 | 5,468 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Marketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Marketable equity securities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Nonmarketable equity securities [Member] | Excluding NAV Investments [Member] | |||
Assets: | |||
Nonmarketable equity securities | 7,110 | 5,468 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other securities sold, not yet purchased [Member] | |||
Liabilities: | |||
Total short sale liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair value measured at net asset value per share [Member] | Nonmarketable equity securities [Member] | Including NAV Investments [Member] | |||
Assets: | |||
Nonmarketable equity securities | $ 118 | $ 102 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Fair Value, Assets and Liabil_2
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Equity securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | $ 6,381 | $ 5,219 | $ 5,468 | $ 5,203 |
Net gains (losses) included in net income | 724 | 585 | 1,650 | 693 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | (1) | (96) |
Transfers into Level 3 | 5 | 6 | 5 | 10 |
Transfers out of Level 3 | 0 | (4) | (12) | (4) |
Balance, end of period | 7,110 | 5,806 | 7,110 | 5,806 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 724 | 586 | 1,650 | 687 |
Nonmarketable equity securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 6,381 | 5,219 | 5,468 | 5,203 |
Net gains (losses) included in net income | 724 | 585 | 1,650 | 693 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | (1) | (96) |
Transfers into Level 3 | 5 | 6 | 5 | 10 |
Transfers out of Level 3 | 0 | (4) | (12) | (4) |
Balance, end of period | 7,110 | 5,806 | 7,110 | 5,806 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 724 | 586 | 1,650 | 687 |
Trading debt securities [Member] | Debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 331 | 371 | 290 | 407 |
Net gains (losses) included in net income | (2) | (7) | (4) | (6) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (21) | (16) | 22 | (53) |
Transfers into Level 3 | 0 | 0 | 1 | 0 |
Transfers out of Level 3 | (1) | (1) | (2) | (1) |
Balance, end of period | 307 | 347 | 307 | 347 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (5) | (7) | (1) | 0 |
Trading debt securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 3 | 3 | 3 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | (2) | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | (1) | 0 |
Balance, end of period | 0 | 3 | 0 | 3 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Trading debt securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 41 | 34 | 34 | 31 |
Net gains (losses) included in net income | 1 | 0 | 3 | 0 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 3 | 3 | 7 | 6 |
Transfers into Level 3 | 0 | 0 | 1 | 0 |
Transfers out of Level 3 | (1) | (1) | (1) | (1) |
Balance, end of period | 44 | 36 | 44 | 36 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 1 | 1 | 3 | 0 |
Trading debt securities [Member] | Collateralized loan obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 275 | 316 | 237 | 354 |
Net gains (losses) included in net income | (2) | (6) | (5) | (4) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (24) | (19) | 17 | (59) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 249 | 291 | 249 | 291 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (6) | (8) | (4) | 0 |
Trading debt securities [Member] | Other trading debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 15 | 18 | 16 | 19 |
Net gains (losses) included in net income | (1) | (1) | (2) | (2) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 14 | 17 | 14 | 17 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 2,005 | 2,641 | 2,044 | 2,994 |
Net gains (losses) included in net income | 8 | 8 | 15 | 27 |
Net gains (losses) included in other comprehensive income | (5) | 8 | (3) | 44 |
Purchases, sales, issuances and settlements, net | (154) | (154) | (202) | (293) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | (49) | (10) | (49) | (279) |
Balance, end of period | 1,805 | 2,493 | 1,805 | 2,493 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Balance, beginning of period | 470 | 617 | 444 | 925 |
Net gains (losses) included in net income | 1 | 1 | 1 | 5 |
Net gains (losses) included in other comprehensive income | 2 | 0 | 5 | (2) |
Purchases, sales, issuances and settlements, net | (33) | (49) | (10) | (90) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | (49) | (10) | (49) | (279) |
Balance, end of period | 391 | 559 | 391 | 559 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Mortgage-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 41 | 68 | 41 | 76 |
Net gains (losses) included in net income | 0 | 0 | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | (2) | 0 | (3) |
Purchases, sales, issuances and settlements, net | 0 | (13) | 0 | (21) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 41 | 53 | 41 | 53 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Residential [Member] | ||||
Assets: | ||||
Balance, beginning of period | 0 | 1 | 0 | 1 |
Net gains (losses) included in net income | 0 | 0 | 0 | 0 |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 | (1) |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 0 | 0 | 0 | 0 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | ||||
Assets: | ||||
Balance, beginning of period | 41 | 67 | 41 | 75 |
Net gains (losses) included in net income | 0 | 0 | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | (1) | 0 | (2) |
Purchases, sales, issuances and settlements, net | 0 | (13) | 0 | (21) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 41 | 53 | 41 | 53 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 377 | 410 | 370 | 407 |
Net gains (losses) included in net income | 0 | 1 | 1 | 2 |
Net gains (losses) included in other comprehensive income | (1) | 1 | 3 | 4 |
Purchases, sales, issuances and settlements, net | 7 | 31 | 9 | 30 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 383 | 443 | 383 | 443 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Collateralized loan obligations [Member] | ||||
Assets: | ||||
Balance, beginning of period | 755 | 1,045 | 800 | 1,020 |
Net gains (losses) included in net income | 7 | 6 | 13 | 11 |
Net gains (losses) included in other comprehensive income | (6) | 10 | (10) | 53 |
Purchases, sales, issuances and settlements, net | (107) | (24) | (154) | (47) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 649 | 1,037 | 649 | 1,037 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 362 | 501 | 389 | 566 |
Net gains (losses) included in net income | 0 | 0 | 0 | 8 |
Net gains (losses) included in other comprehensive income | 0 | (1) | (1) | (8) |
Purchases, sales, issuances and settlements, net | (21) | (99) | (47) | (165) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 341 | 401 | 341 | 401 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||||
Assets: | ||||
Balance, beginning of period | 362 | 501 | 389 | 566 |
Net gains (losses) included in net income | 0 | 0 | 0 | 8 |
Net gains (losses) included in other comprehensive income | 0 | (1) | (1) | (8) |
Purchases, sales, issuances and settlements, net | (21) | (99) | (47) | (165) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 341 | 401 | 341 | 401 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Mortgage loans held for sale [Member] | ||||
Assets: | ||||
Balance, beginning of period | 998 | 950 | 997 | 998 |
Net gains (losses) included in net income | 37 | (11) | 52 | (34) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (22) | 25 | (88) | (12) |
Transfers into Level 3 | 104 | 25 | 160 | 40 |
Transfers out of Level 3 | (2) | (3) | (6) | (6) |
Balance, end of period | 1,115 | 986 | 1,115 | 986 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 39 | (11) | 54 | (32) |
Loans held for sale [Member] | ||||
Assets: | ||||
Balance, beginning of period | 71 | 0 | 60 | 14 |
Net gains (losses) included in net income | 0 | (1) | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (3) | 0 | 8 | (16) |
Transfers into Level 3 | 0 | 21 | 37 | 21 |
Transfers out of Level 3 | (56) | 0 | (93) | 0 |
Balance, end of period | 12 | 20 | 12 | 20 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 0 | 0 | 0 | 0 |
Loans [Member] | ||||
Assets: | ||||
Balance, beginning of period | 225 | 352 | 244 | 376 |
Net gains (losses) included in net income | 1 | 0 | 1 | (1) |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (24) | (31) | (43) | (54) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 202 | 321 | 202 | 321 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (2) | (4) | (4) | (7) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Balance, beginning of period | 13,336 | 15,041 | 14,649 | 13,625 |
Net gains (losses) included in net income | (1,639) | (115) | (3,012) | 732 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 399 | 485 | 459 | 1,054 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 12,096 | 15,411 | 12,096 | 15,411 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (1,078) | 345 | (1,969) | 1,675 |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (46) | (278) | 21 | (378) |
Net gains (losses) included in net income | 177 | (90) | 209 | (350) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (133) | 18 | (211) | 329 |
Transfers into Level 3 | (2) | 3 | 9 | 3 |
Transfers out of Level 3 | (13) | 2 | (45) | 51 |
Balance, end of period | (17) | (345) | (17) | (345) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 106 | 258 | 46 | (17) |
Derivative [Member] | Interest rate contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 101 | (8) | 25 | 71 |
Net gains (losses) included in net income | 237 | (63) | 424 | (408) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (133) | 30 | (244) | 296 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 205 | (41) | 205 | (41) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 141 | 6 | 220 | (94) |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (18) | 10 | 4 | 19 |
Net gains (losses) included in net income | (75) | 15 | (126) | 30 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 64 | (2) | 91 | (26) |
Transfers into Level 3 | 0 | 3 | 2 | 3 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (29) | 26 | (29) | 26 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (10) | 21 | (26) | 22 |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (162) | (322) | (17) | (511) |
Net gains (losses) included in net income | 15 | (12) | (104) | 57 |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (66) | (7) | (69) | 64 |
Transfers into Level 3 | (2) | 0 | 7 | 0 |
Transfers out of Level 3 | (13) | 2 | (45) | 51 |
Balance, end of period | (228) | (339) | (228) | (339) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (29) | 261 | (175) | 80 |
Derivative [Member] | Foreign exchange contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | (16) | 1 | (26) | 7 |
Net gains (losses) included in net income | 3 | (18) | 10 | (25) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 3 | 2 | 6 | 3 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (10) | (15) | (10) | (15) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | 7 | (13) | 17 | (17) |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Balance, beginning of period | 49 | 41 | 35 | 36 |
Net gains (losses) included in net income | (3) | (12) | 5 | (4) |
Total net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | (1) | (5) | 5 | (8) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 45 | 24 | 45 | 24 |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | (3) | (17) | 10 | (8) |
Other liabilities [Member] | ||||
Liabilities: | ||||
Balance, beginning of period | (2) | (2) | (2) | (3) |
Net gains (losses) included in net income | 0 | 0 | 0 | 1 |
Net gains (losses) included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases, sales, issuances and settlements, net | 0 | 0 | 0 | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | (2) | (2) | (2) | (2) |
Net unrealized gains (losses) included in income related to assets and liabilities held at period end | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabil_3
Fair Value, Assets and Liabilities Measured on Recurring Basis Level 3 Reconciliation Breakout (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Equity securities [Member] | ||||
Assets: | ||||
Purchases | $ 0 | $ 0 | $ 0 | $ 0 |
Sales | 0 | 0 | (1) | (17) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (79) |
Net | 0 | 0 | (1) | (96) |
Nonmarketable equity securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | (1) | (17) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | (79) |
Net | 0 | 0 | (1) | (96) |
Trading debt securities [Member] | Debt securities [Member] | ||||
Assets: | ||||
Purchases | 50 | 93 | 185 | 279 |
Sales | (68) | (40) | (156) | (232) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (3) | (69) | (7) | (100) |
Net | (21) | (16) | 22 | (53) |
Trading debt securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | (2) | 0 |
Net | 0 | 0 | (2) | 0 |
Trading debt securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 6 | 4 | 11 | 8 |
Sales | (3) | (1) | (4) | (2) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 3 | 3 | 7 | 6 |
Trading debt securities [Member] | Collateralized loan obligations [Member] | ||||
Assets: | ||||
Purchases | 44 | 89 | 174 | 271 |
Sales | (65) | (39) | (152) | (230) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (3) | (69) | (5) | (100) |
Net | (24) | (19) | 17 | (59) |
Trading debt securities [Member] | Other trading debt securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Debt securities [Member] | ||||
Assets: | ||||
Purchases | 8 | 31 | 11 | 31 |
Sales | (2) | 0 | (5) | (12) |
Issuances | 63 | 9 | 178 | 68 |
Settlements | (223) | (194) | (386) | (380) |
Net | (154) | (154) | (202) | (293) |
Available-for-sale securities [Member] | Securities of U.S. states and political subdivisions [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (4) |
Issuances | 6 | 0 | 55 | 10 |
Settlements | (39) | (49) | (65) | (96) |
Net | (33) | (49) | (10) | (90) |
Available-for-sale securities [Member] | Mortgage-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (13) | 0 | (21) |
Net | 0 | (13) | 0 | (21) |
Available-for-sale securities [Member] | Residential [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | 0 | 0 | 0 | 0 |
Available-for-sale securities [Member] | Commercial [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (13) | 0 | (21) |
Net | 0 | (13) | 0 | (21) |
Available-for-sale securities [Member] | Corporate debt securities [Member] | ||||
Assets: | ||||
Purchases | 8 | 31 | 11 | 31 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (1) | 0 | (2) | (1) |
Net | 7 | 31 | 9 | 30 |
Available-for-sale securities [Member] | Collateralized loan obligations [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (107) | (24) | (154) | (47) |
Net | (107) | (24) | (154) | (47) |
Available-for-sale securities [Member] | Asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (2) | 0 | (5) | (8) |
Issuances | 57 | 9 | 123 | 58 |
Settlements | (76) | (108) | (165) | (215) |
Net | (21) | (99) | (47) | (165) |
Available-for-sale securities [Member] | Other asset-backed securities [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (2) | 0 | (5) | (8) |
Issuances | 57 | 9 | 123 | 58 |
Settlements | (76) | (108) | (165) | (215) |
Net | (21) | (99) | (47) | (165) |
Mortgage loans held for sale [Member] | ||||
Assets: | ||||
Purchases | 30 | 20 | 46 | 47 |
Sales | (47) | (68) | (140) | (151) |
Issuances | 54 | 109 | 100 | 167 |
Settlements | (59) | (36) | (94) | (75) |
Net | (22) | 25 | (88) | (12) |
Loans held for sale [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 12 | 0 |
Sales | (1) | 0 | (2) | (16) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (2) | 0 | (2) | 0 |
Net | (3) | 0 | 8 | (16) |
Loans [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 2 | 1 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 2 | 4 | 5 | 8 |
Settlements | (26) | (35) | (50) | (63) |
Net | (24) | (31) | (43) | (54) |
Mortgage servicing rights [Member] | ||||
Assets: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | (1) | (1) | (282) | (5) |
Issuances | 400 | 486 | 741 | 1,059 |
Settlements | 0 | 0 | 0 | 0 |
Net | 399 | 485 | 459 | 1,054 |
Derivative [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 2 | 5 | 8 | 8 |
Sales | (3) | (2) | (3) | (4) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (132) | 15 | (216) | 325 |
Net | (133) | 18 | (211) | 329 |
Derivative [Member] | Interest rate contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (133) | 30 | (244) | 296 |
Net | (133) | 30 | (244) | 296 |
Derivative [Member] | Commodity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 64 | (2) | 91 | (26) |
Net | 64 | (2) | 91 | (26) |
Derivative [Member] | Equity contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | (66) | (7) | (69) | 64 |
Net | (66) | (7) | (69) | 64 |
Derivative [Member] | Foreign exchange contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 3 | 2 | 6 | 3 |
Net | 3 | 2 | 6 | 3 |
Derivative [Member] | Credit contract [Member] | ||||
Assets and Liabilities: | ||||
Purchases | 2 | 5 | 8 | 8 |
Sales | (3) | (2) | (3) | (4) |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | (8) | 0 | (12) |
Net | (1) | (5) | 5 | (8) |
Other liabilities [Member] | ||||
Liabilities: | ||||
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Net | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Assets and Liabil_4
Fair Value, Assets and Liabilities Measured on a Recurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)$ / loan | Dec. 31, 2018USD ($)$ / loan | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage servicing rights | $ 12,096 | $ 14,649 |
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 265,983 | 269,912 |
Securities of U.S. states and political subdivisions [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 45,095 | 49,264 |
Corporate debt securities [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 6,230 | 6,271 |
Collateralized loan obligations [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 32,995 | 35,343 |
Collateralized debt obligations [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 649 | 800 |
Recurring [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 16,343 | 11,771 |
Loans | 202 | 244 |
Mortgage servicing rights | 12,096 | 14,649 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets recorded at fair value | 415,062 | 408,360 |
Total liabilities recorded at fair value | 24,356 | 28,221 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 1,115 | 997 |
Loans | 202 | 244 |
Mortgage servicing rights | 12,096 | 14,649 |
Total insignificant level 3 assets, net of liabilities | 26 | 93 |
Assets, fair value disclosure, net of liabilities | 22,628 | 23,771 |
Fair Value Disclosures, Textual [Abstract] | ||
Total assets recorded at fair value | 24,900 | 25,300 |
Total liabilities recorded at fair value | 2,304 | 1,551 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 14 | 15 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale, carried at fair value | 1,101 | 982 |
Loans | 202 | 244 |
Mortgage servicing rights | $ 12,096 | $ 14,649 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | (0.563) | (0.563) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.030 | 0.011 |
Loans, Measurement Input | 0.039 | 0.034 |
Servicing Asset, Measurement Input | 0.065 | 0.071 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0 | 0 |
Loans, Measurement Input | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Cost of Service Per Loan [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Servicing Asset, Measurement Input | $ / loan | 63 | 62 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.043 | 0.032 |
Loans, Measurement Input | 0.044 | 0.029 |
Servicing Asset, Measurement Input | 0.106 | 0.090 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | (0.250) | (0.063) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.063 | 0.066 |
Loans, Measurement Input | 0.044 | 0.064 |
Servicing Asset, Measurement Input | 0.132 | 0.153 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.184 | 0.156 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.464 | 0.433 |
Loans, Measurement Input | 0.348 | 0.348 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Cost of Service Per Loan [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Servicing Asset, Measurement Input | $ / loan | 482 | 507 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.144 | 0.134 |
Loans, Measurement Input | 1 | 1 |
Servicing Asset, Measurement Input | 0.246 | 0.235 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | (0.409) | (0.363) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.046 | 0.055 |
Loans, Measurement Input | 0.041 | 0.042 |
Servicing Asset, Measurement Input | 0.074 | 0.081 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.008 | 0.008 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.250 | 0.234 |
Loans, Measurement Input | 0.120 | 0.102 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Cost of Service Per Loan [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Servicing Asset, Measurement Input | $ / loan | 104 | 106 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage Loans Held for Sale, Measurement Input | 0.061 | 0.046 |
Loans, Measurement Input | 0.856 | 0.872 |
Servicing Asset, Measurement Input | 0.122 | 0.099 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ 111 | $ (35) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.500 | 0.500 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.028 | 0.028 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.050 | 0.050 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.500 | 0.500 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.250 | 0.250 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.020 | 0.020 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.500 | 0.500 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest rate contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.153 | 0.138 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ 94 | $ 60 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Fall-out Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.010 | 0.010 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Initial-value Servicing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.00405) | (0.00366) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Fall-out Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.990 | 0.990 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Initial-value Servicing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.00671 | 0.00917 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Fall-out Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.195 | 0.194 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Loan Commitments [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Initial-value Servicing [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.00123 | 0.00185 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ 146 | $ 104 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ (374) | $ (121) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative, Term of Contract | 1 year | 1 year |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Conversion Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.089) | (0.093) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Minimum [Member] | Option model [Member] | Measurement Input, Correlation Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.770) | (0.770) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Minimum [Member] | Option model [Member] | Measurement Input, Price Volatility [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.065 | 0.065 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative, Term of Contract | 3 years 6 months | 3 years |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Conversion Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Maximum [Member] | Option model [Member] | Measurement Input, Correlation Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.985 | 0.990 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Maximum [Member] | Option model [Member] | Measurement Input, Price Volatility [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 1.052 | 1 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative, Term of Contract | 2 years | 1 year 9 months 18 days |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Conversion Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.083) | (0.078) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Weighted Average [Member] | Option model [Member] | Measurement Input, Correlation Factor [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.639 | 0.216 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity contract [Member] | Weighted Average [Member] | Option model [Member] | Measurement Input, Price Volatility [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.241 | 0.218 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ 2 | $ 3 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Option model [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Net derivative assets and liabilities | $ 43 | $ 32 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Minimum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.483) | (0.155) |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Minimum [Member] | Option model [Member] | Measurement Input, Credit Spread [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.001 | 0.009 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Minimum [Member] | Option model [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.130 | 0.130 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Maximum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.296 | 0.400 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Maximum [Member] | Option model [Member] | Measurement Input, Credit Spread [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.214 | 0.215 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Maximum [Member] | Option model [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.600 | 0.600 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | (0.069) | 0.035 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Weighted Average [Member] | Option model [Member] | Measurement Input, Credit Spread [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.009 | 0.013 |
Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Credit contract [Member] | Weighted Average [Member] | Option model [Member] | Measurement Input, Loss Severity [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Derivative Asset (Liability) Net, Measurement Input | 0.456 | 0.452 |
Recurring [Member] | Non modified loans [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Cost of Service Per Loan [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Servicing Asset, Measurement Input | $ / loan | 63 | 62 |
Recurring [Member] | Non modified loans [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Cost of Service Per Loan [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Servicing Asset, Measurement Input | $ / loan | 208 | 204 |
Recurring [Member] | Debt securities [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | $ 265,983 | $ 269,912 |
Recurring [Member] | Debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 1,805 | 2,044 |
Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 45,095 | 49,264 |
Recurring [Member] | Securities of U.S. states and political subdivisions [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 391 | 444 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | 353 | 404 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Vendor Pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 38 | $ 43 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.015 | 0.021 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.062 | 0.064 |
Recurring [Member] | Government, healthcare and other revenue bonds [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.030 | 0.034 |
Recurring [Member] | Corporate debt securities [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | $ 6,230 | $ 6,271 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 383 | 370 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | 66 | 56 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | 232 | 220 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Vendor Pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 129 | $ 128 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | (0.140) | (0.113) |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.020 | 0.040 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.144 | 0.166 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.149 | 0.117 |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | (0.028) | (0.014) |
Recurring [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.085 | 0.085 |
Recurring [Member] | Collateralized loan obligations [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | $ 32,995 | $ 35,343 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 649 | 800 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | 249 | 298 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Vendor Pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 649 | $ 739 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | (0.113) | (0.135) |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.200 | 0.221 |
Recurring [Member] | Collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.017 | 0.032 |
Recurring [Member] | Asset-backed securities [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | $ 5,036 | $ 5,482 |
Recurring [Member] | Asset-backed securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 341 | 389 |
Recurring [Member] | Other asset-backed securities [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 4,133 | 4,445 |
Recurring [Member] | Other asset-backed securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | 341 | 389 |
Recurring [Member] | Diversified payment rights [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 132 | $ 171 |
Recurring [Member] | Diversified payment rights [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.025 | 0.034 |
Recurring [Member] | Diversified payment rights [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.049 | 0.062 |
Recurring [Member] | Diversified payment rights [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.034 | 0.044 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 194 | $ 198 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Vendor Pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt securities, trading and available-for-sale | $ 15 | $ 20 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.039 | 0.046 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Trading and Available-for-sale, Term | 1 year 3 months 18 days | 1 year 1 month 6 days |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.048 | 0.052 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Trading and Available-for-sale, Term | 1 year 10 months 24 days | 1 year 6 months |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.040 | 0.047 |
Recurring [Member] | Other commercial and consumer [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted cash flow [Member] | Measurement Input, Weighted Average Life [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Debt Securities, Trading and Available-for-sale, Term | 1 year 9 months 18 days | 1 year 1 month 6 days |
Recurring [Member] | Collateralized debt obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosures, Textual [Abstract] | ||
Available-for-sale, at fair value | $ 649 | $ 800 |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | Market comparable pricing [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 7,110 | $ 5,468 |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (21.70%) | (20.60%) |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (6.30%) | (4.30%) |
Recurring [Member] | Nonmarketable equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Market comparable pricing [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | (16.60%) | (15.80%) |
Fair Value, Assets Recorded at
Fair Value, Assets Recorded at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | $ 76,358 | $ 79,850 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 5,013 | 2,446 |
Loans held for sale | 26 | 313 |
Loans | 380 | 686 |
Other assets | 153 | 155 |
Total assets recorded at fair value | 6,467 | 4,531 |
Nonrecurring [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 895 | 931 |
Nonrecurring [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 215 | 339 |
Nonrecurring [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 165 | 347 |
Nonrecurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 0 | 0 |
Other assets | 0 | 0 |
Total assets recorded at fair value | 0 | 0 |
Nonrecurring [Member] | Level 1 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 0 | 0 |
Nonrecurring [Member] | Level 1 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Nonrecurring [Member] | Level 1 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Nonrecurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,865 | 1,213 |
Loans held for sale | 26 | 313 |
Loans | 379 | 685 |
Other assets | 153 | 149 |
Total assets recorded at fair value | 3,235 | 3,134 |
Nonrecurring [Member] | Level 2 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 812 | 774 |
Nonrecurring [Member] | Level 2 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 215 | 339 |
Nonrecurring [Member] | Level 2 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 164 | 346 |
Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 3,148 | 1,233 |
Loans held for sale | 0 | 0 |
Loans | 1 | 1 |
Other assets | 0 | 6 |
Total assets recorded at fair value | 3,232 | 1,397 |
Nonrecurring [Member] | Level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonmarketable equity securities | 83 | 157 |
Nonrecurring [Member] | Level 3 [Member] | Total Commercial [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | 0 | 0 |
Nonrecurring [Member] | Level 3 [Member] | Total Consumer [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans | $ 1 | $ 1 |
Fair Value, Changes in Fair Val
Fair Value, Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Mortgage loans held for sale (LOCOM) | $ 18 | $ 13 |
Loans held for sale | (2) | (78) |
Loans | (227) | (323) |
Nonmarketable equity securities | 264 | (17) |
Other assets | (29) | (30) |
Total | 24 | (435) |
Total Commercial [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | (106) | (138) |
Total Consumer [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis Increase (Decrease) [Line Items] | ||
Loans | $ (121) | $ (185) |
Fair Value, Assets Recorded a_2
Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis Level 3 Valuation Techniques and Significant Unobservable Inputs (Details) - Nonrecurring [Member] - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | $ 5,013 | $ 2,446 |
Total assets recorded at fair value | 6,467 | 4,531 |
Residential [Member] | Not government insured/guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | 1,800 | 27 |
Residential [Member] | Government insured/guaranteed [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | 1,300 | 1,200 |
Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 895 | $ 931 |
Measurement Input, Default Rate [Member] | Discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 0.30% | 0.20% |
Measurement Input, Default Rate [Member] | Discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 5.70% | 2.30% |
Measurement Input, Default Rate [Member] | Discounted cash flow [Member] | Weighted Average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 1.40% | 1.40% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 1.50% | 1.50% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Minimum [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.00% | 10.50% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 9.50% | 8.50% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Maximum [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.00% | 10.50% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Weighted Average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 4.80% | 4.00% |
Measurement Input, Discount Rate [Member] | Discounted cash flow [Member] | Weighted Average [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Nonmarketable equity securities, measurement input | 0.00% | 10.50% |
Measurement Input, Loss Severity [Member] | Discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 0.50% | 0.50% |
Measurement Input, Loss Severity [Member] | Discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 62.30% | 66.00% |
Measurement Input, Loss Severity [Member] | Discounted cash flow [Member] | Weighted Average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 24.70% | 1.70% |
Measurement Input, Prepayment Rate [Member] | Discounted cash flow [Member] | Minimum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 5.10% | 3.50% |
Measurement Input, Prepayment Rate [Member] | Discounted cash flow [Member] | Maximum [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 100.00% | 100.00% |
Measurement Input, Prepayment Rate [Member] | Discounted cash flow [Member] | Weighted Average [Member] | Residential [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Abstract] | ||
Mortgage loans held for sale (residential), measurement input | 21.60% | 46.50% |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | $ 3,148 | $ 1,233 |
Insignificant level 3 assets | 84 | 157 |
Total assets recorded at fair value | 3,232 | 1,397 |
Fair Value, Inputs, Level 3 [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | 83 | 157 |
Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | Residential [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Mortgage loans held for sale | 3,148 | 1,233 |
Fair Value, Inputs, Level 3 [Member] | Discounted cash flow [Member] | Nonmarketable equity securities [Member] | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Nonmarketable equity securities | $ 0 | $ 7 |
Fair Value, Option, Carrying Am
Fair Value, Option, Carrying Amount (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Equity securities, carried at fair value | $ 35,950 | $ 29,556 |
Fair value option election [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgage loans held for sale | 16,343 | 11,771 |
Loans held for sale | 1,118 | 1,469 |
Loans | 202 | 244 |
Fair value option election [Member] | Mortgage loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgage loans held for sale | 16,343 | 11,771 |
Mortgage loans held for sale, unpaid principal | 15,906 | 11,573 |
Loans, Loans held for sale and mortgage loans held for sale, aggregate difference | 437 | 198 |
Nonaccrual loans | 130 | 127 |
Nonaccrual loans, unpaid principal | 155 | 158 |
Nonaccrual loans, aggregate difference | (25) | (31) |
Loans 90 days or more past due and still accruing | 8 | 7 |
Loans 90 days or more past due and still accruing, unpaid principal | 10 | 9 |
Loans 90 days or more past due and still accruing, aggregate difference | (2) | (2) |
Fair value option election [Member] | Loans held for sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale | 1,118 | 1,469 |
Loans held for sale, unpaid principal | 1,166 | 1,536 |
Loans, Loans held for sale and mortgage loans held for sale, aggregate difference | (48) | (67) |
Nonaccrual loans | 57 | 21 |
Nonaccrual loans, unpaid principal | 65 | 32 |
Nonaccrual loans, aggregate difference | (8) | (11) |
Fair value option election [Member] | Loans [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans | 202 | 244 |
Loans, unpaid principal | 231 | 274 |
Loans, Loans held for sale and mortgage loans held for sale, aggregate difference | (29) | (30) |
Nonaccrual loans | 150 | 179 |
Nonaccrual loans, unpaid principal | 179 | 208 |
Nonaccrual loans, aggregate difference | $ (29) | $ (29) |
Fair Value, Option, Changes in
Fair Value, Option, Changes in Fair Value Included in Earnings (Details) - Fair value option election [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Mortgage banking noninterest income [Member] | Mortgage loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | $ 379 | $ 114 | $ 593 | $ 55 |
Mortgage banking noninterest income [Member] | Loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Mortgage banking noninterest income [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Mortgage banking noninterest income [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Mortgage loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (4) | 9 | 10 | 15 |
Net gains (losses) from trading activities [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Net gains (losses) from trading activities [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | (1) | (1) | (2) | (2) |
Other noninterest income [Member] | Mortgage loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 0 | 0 |
Other noninterest income [Member] | Loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 0 | 0 | 1 | 0 |
Other noninterest income [Member] | Loans [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | 1 | 0 | 1 | (1) |
Other noninterest income [Member] | Other interests held [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (Losses) on changes in fair value | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Option, Instrument
Fair Value, Option, Instrument Specific Credit Risk (Details) - Fair value option election [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ 13 | $ 7 | $ 23 | $ 14 |
Mortgage loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | 16 | (2) | 12 | (1) |
Loans held for sale [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) attributable to instrument-specific credit risk | $ (3) | $ 9 | $ 11 | $ 15 |
Fair Value, Estimates for Finan
Fair Value, Estimates for Financial Instruments Excluding those Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Financial assets | |||
Cash and due from banks | $ 20,880 | $ 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Federal funds sold and securities purchased under resale agreements | 112,119 | 80,207 | |
Held-to-maturity debt securities | 145,876 | 144,788 | |
Mortgage loans held for sale | [1] | 22,998 | 15,126 |
Loans held for sale | [1] | 1,181 | 2,041 |
Loans | [1] | 949,878 | 953,110 |
Financial liabilities | |||
Deposits | 1,288,426 | 1,286,170 | |
Short-term borrowings | 115,344 | 105,787 | |
Long-term debt | 241,476 | 229,044 | |
Carrying amount [Member] | |||
Financial assets | |||
Cash and due from banks | 20,880 | 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Federal funds sold and securities purchased under resale agreements | 112,119 | 80,207 | |
Held-to-maturity debt securities | 145,876 | 144,788 | |
Mortgage loans held for sale | 6,655 | 3,355 | |
Loans held for sale | 63 | 572 | |
Loans | 920,977 | 923,703 | |
Nonmarketable equity securities | 5,622 | 5,643 | |
Financial assets fair value disclosure | 1,355,739 | 1,331,555 | |
Financial liabilities | |||
Deposits | 139,343 | 130,645 | |
Short-term borrowings | 115,344 | 105,787 | |
Long-term debt | 241,441 | 229,008 | |
Financial liabilities fair value disclosure | 496,128 | 465,440 | |
Fair Value Disclosures, Textual [Abstract] | |||
Deposit Liabilities With No Defined or Contractual Maturity | 1,100,000 | 1,200,000 | |
Capital lease obligations | 35 | 36 | |
Carrying amount [Member] | Finance leases financing receivable [Member] | |||
Financial assets | |||
Loans | 19,000 | 19,700 | |
Estimated fair value [Member] | |||
Financial assets | |||
Cash and due from banks | 20,880 | 23,551 | |
Interest-earning deposits with banks | 143,547 | 149,736 | |
Federal funds sold and securities purchased under resale agreements | 112,119 | 80,207 | |
Held-to-maturity debt securities | 147,864 | 142,115 | |
Mortgage loans held for sale | 7,650 | 3,362 | |
Loans held for sale | 63 | 572 | |
Loans | 928,440 | 917,915 | |
Nonmarketable equity securities | 5,654 | 5,675 | |
Financial assets fair value disclosure | 1,366,217 | 1,323,133 | |
Financial liabilities | |||
Deposits | 139,202 | 130,089 | |
Short-term borrowings | 115,345 | 105,789 | |
Long-term debt | 244,155 | 228,134 | |
Financial liabilities fair value disclosure | 498,702 | 464,012 | |
Fair Value Disclosures, Textual [Abstract] | |||
Loan commitments and standby, commercial and similar letters of credit | 1,000 | 1,000 | |
Estimated fair value [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Cash and due from banks | 20,880 | 23,551 | |
Interest-earning deposits with banks | 143,312 | 149,542 | |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | |
Held-to-maturity debt securities | 45,336 | 44,339 | |
Mortgage loans held for sale | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans | 0 | 0 | |
Nonmarketable equity securities | 0 | 0 | |
Financial assets fair value disclosure | 209,528 | 217,432 | |
Financial liabilities | |||
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Financial liabilities fair value disclosure | 0 | 0 | |
Estimated fair value [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Financial assets | |||
Cash and due from banks | 0 | 0 | |
Interest-earning deposits with banks | 235 | 194 | |
Federal funds sold and securities purchased under resale agreements | 112,119 | 80,207 | |
Held-to-maturity debt securities | 101,943 | 97,275 | |
Mortgage loans held for sale | 3,548 | 2,129 | |
Loans held for sale | 63 | 572 | |
Loans | 49,839 | 45,190 | |
Nonmarketable equity securities | 0 | 0 | |
Financial assets fair value disclosure | 267,747 | 225,567 | |
Financial liabilities | |||
Deposits | 106,653 | 107,448 | |
Short-term borrowings | 115,345 | 105,789 | |
Long-term debt | 242,529 | 225,904 | |
Financial liabilities fair value disclosure | 464,527 | 439,141 | |
Estimated fair value [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Financial assets | |||
Cash and due from banks | 0 | 0 | |
Interest-earning deposits with banks | 0 | 0 | |
Federal funds sold and securities purchased under resale agreements | 0 | 0 | |
Held-to-maturity debt securities | 585 | 501 | |
Mortgage loans held for sale | 4,102 | 1,233 | |
Loans held for sale | 0 | 0 | |
Loans | 878,601 | 872,725 | |
Nonmarketable equity securities | 5,654 | 5,675 | |
Financial assets fair value disclosure | 888,942 | 880,134 | |
Financial liabilities | |||
Deposits | 32,549 | 22,641 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 1,626 | 2,230 | |
Financial liabilities fair value disclosure | $ 34,175 | $ 24,871 | |
[1] | (1) Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option. |
Preferred Stock (Details)
Preferred Stock (Details) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)vote$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | |
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Shares authorized and designated | shares | 9,393,728 | 9,586,770 |
ESOP, Liquidation preference per share | $ / shares | $ 0 | $ 0 |
ESOP, Shares authorized and designated | shares | 1,213,418 | 1,406,460 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 9,184,169 | 9,377,216 |
Voting Rights | If issued, preference shares would be limited to one vote per share | |
Preferred Stock, Liquidation Preference, Value | $ 24,265 | $ 24,458 |
Carrying value | 23,021 | 23,214 |
Discount | $ 1,244 | $ 1,244 |
ESOP Shares issued and outstanding | shares | 1,213,418 | 1,406,460 |
ESOP Liquidation preference value | $ 1,214 | $ 1,407 |
ESOP Carrying value | 1,214 | 1,407 |
ESOP Discount | $ 0 | $ 0 |
Preferred Stock, No Voting Rights [Member] | ||
Class of Stock [Line Items] | ||
Preferred shares authorized | shares | 20,000,000 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred Stock, Par or Stated Value | $ 0 | |
Preferred Stock, Voting Rights [Member] | ||
Class of Stock [Line Items] | ||
Preferred shares authorized | shares | 4,000,000 | |
Number of votes per share | vote | 1 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 0 | |
Preferred Stock, Par or Stated Value | $ 0 | |
Dividend Equalization Preferred Shares (DEP) [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 10 | $ 10 |
Preferred Stock, Shares authorized and designated | shares | 97,000 | 97,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 96,546 | 96,546 |
Preferred Stock, Liquidation Preference, Value | $ 0 | $ 0 |
Carrying value | 0 | 0 |
Discount | $ 0 | $ 0 |
Series I - Floating Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend Payment Rate, Variable | the greater of three-month LIBOR plus 0.93% and 5.56975% | the greater of three-month LIBOR plus 0.93% and 5.56975% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 100,000 | $ 100,000 |
Preferred Stock, Shares authorized and designated | shares | 25,010 | 25,010 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 25,010 | 25,010 |
Preferred Stock, Liquidation Preference, Value | $ 2,501 | $ 2,501 |
Carrying value | 2,501 | 2,501 |
Discount | $ 0 | $ 0 |
Series K - Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend Payment Rate, Variable | three-month LIBOR plus 3.77% | three-month LIBOR plus 3.77% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 |
Preferred Stock, Shares authorized and designated | shares | 3,500,000 | 3,500,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 3,352,000 | 3,352,000 |
Preferred Stock, Liquidation Preference, Value | $ 3,352 | $ 3,352 |
Carrying value | 2,876 | 2,876 |
Discount | $ 476 | $ 476 |
Series L - 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 7.50% | 7.50% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 |
Preferred Stock, Shares authorized and designated | shares | 4,025,000 | 4,025,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 3,967,995 | 3,968,000 |
Preferred Stock, Liquidation Preference, Value | $ 3,968 | $ 3,968 |
Carrying value | 3,200 | 3,200 |
Discount | $ 768 | $ 768 |
Series N - 5.20% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.20% | 5.20% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 30,000 | 30,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 30,000 | 30,000 |
Preferred Stock, Liquidation Preference, Value | $ 750 | $ 750 |
Carrying value | 750 | 750 |
Discount | $ 0 | $ 0 |
Series O - 5.125% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.125% | 5.125% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 27,600 | 27,600 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 26,000 | 26,000 |
Preferred Stock, Liquidation Preference, Value | $ 650 | $ 650 |
Carrying value | 650 | 650 |
Discount | $ 0 | $ 0 |
Series P - 5.25% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.25% | 5.25% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 26,400 | 26,400 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 25,000 | 25,000 |
Preferred Stock, Liquidation Preference, Value | $ 625 | $ 625 |
Carrying value | 625 | 625 |
Discount | $ 0 | $ 0 |
Series Q - 5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.85% | 5.85% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 69,000 | 69,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 69,000 | 69,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,725 | $ 1,725 |
Carrying value | 1,725 | 1,725 |
Discount | $ 0 | $ 0 |
Series R - 6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 6.625% | 6.625% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 34,500 | 34,500 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 33,600 | 33,600 |
Preferred Stock, Liquidation Preference, Value | $ 840 | $ 840 |
Carrying value | 840 | 840 |
Discount | $ 0 | $ 0 |
Series S - 5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.90% | 5.90% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 80,000 | 80,000 |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 |
Carrying value | 2,000 | 2,000 |
Discount | $ 0 | $ 0 |
Series T - 6.000% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 6.00% | 6.00% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 32,200 | 32,200 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 32,000 | 32,000 |
Preferred Stock, Liquidation Preference, Value | $ 800 | $ 800 |
Carrying value | 800 | 800 |
Discount | $ 0 | $ 0 |
Series U - 5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.875% | 5.875% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 80,000 | 80,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 80,000 | 80,000 |
Preferred Stock, Liquidation Preference, Value | $ 2,000 | $ 2,000 |
Carrying value | 2,000 | 2,000 |
Discount | $ 0 | $ 0 |
Series V - 6.000% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 6.00% | 6.00% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 40,000 | 40,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 40,000 | 40,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 |
Carrying value | 1,000 | 1,000 |
Discount | $ 0 | $ 0 |
Series W - 5.700% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.70% | 5.70% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 40,000 | 40,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 40,000 | 40,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,000 | $ 1,000 |
Carrying value | 1,000 | 1,000 |
Discount | $ 0 | $ 0 |
Series X - 5.500% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.50% | 5.50% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 46,000 | 46,000 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 46,000 | 46,000 |
Preferred Stock, Liquidation Preference, Value | $ 1,150 | $ 1,150 |
Carrying value | 1,150 | 1,150 |
Discount | $ 0 | $ 0 |
Series Y - 5.625% Non-Cumulative Perpetual Class A Preferred Stock [Member] | ||
Detail of Preferred Stock [Abstract] | ||
Preferred Stock, Dividend rate (percent) | 5.625% | 5.625% |
Preferred Stock, Liquidation preference per share (in dollars per share) | $ / shares | $ 25,000 | $ 25,000 |
Preferred Stock, Shares authorized and designated | shares | 27,600 | 27,600 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Shares issued and outstanding | shares | 27,600 | 27,600 |
Preferred Stock, Liquidation Preference, Value | $ 690 | $ 690 |
Carrying value | 690 | 690 |
Discount | $ 0 | $ 0 |
ESOP Preferred Stock (Details)
ESOP Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | ||
Additional paid-in capital included related to preferred stock | $ 78 | $ 95 |
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 1,213,418 | 1,406,460 |
Carrying value | $ 1,214 | $ 1,407 |
Unearned ESOP shares | $ (1,292) | $ (1,502) |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 336,945 | 336,945 |
Carrying value | $ 337 | $ 337 |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7.00% | 7.00% |
Employee Stock Ownership Plan Preferred Stock 2018 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.00% | 8.00% |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 222,210 | 222,210 |
Carrying value | $ 222 | $ 222 |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 7.00% | 7.00% |
Employee Stock Ownership Plan Preferred Stock 2017 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.00% | 8.00% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 227,450 | 233,835 |
Carrying value | $ 228 | $ 234 |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.30% | 9.30% |
Employee Stock Ownership Plan Preferred Stock 2016 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.30% | 10.30% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 116,784 | 144,338 |
Carrying value | $ 117 | $ 144 |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.90% | 8.90% |
Employee Stock Ownership Plan Preferred Stock 2015 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.90% | 9.90% |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 136,151 | 174,151 |
Carrying value | $ 136 | $ 174 |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.70% | 8.70% |
Employee Stock Ownership Plan Preferred Stock 2014 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.70% | 9.70% |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 97,948 | 133,948 |
Carrying value | $ 98 | $ 134 |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 8.50% | 8.50% |
Employee Stock Ownership Plan Preferred Stock 2013 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.50% | 9.50% |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 49,134 | 77,634 |
Carrying value | $ 49 | $ 78 |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.00% | 10.00% |
Employee Stock Ownership Plan Preferred Stock 2012 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 11.00% | 11.00% |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 26,796 | 61,796 |
Carrying value | $ 27 | $ 62 |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.00% | 9.00% |
Employee Stock Ownership Plan Preferred Stock 2011 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.00% | 10.00% |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Shares issued and outstanding | 0 | 21,603 |
Carrying value | $ 0 | $ 22 |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | Minimum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 9.50% | 9.50% |
Employee Stock Ownership Plan Preferred Stock 2010 [Member] | Maximum [Member] | ||
Detail of Employee Stock Ownership Plan Preferred Stock [Abstract] | ||
Adjustable dividend rate | 10.50% | 10.50% |
Stock Compensation Plan [Member] | Convertible Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, redemption price per share | $ 1,000 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers, Revenue by Operating Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest income | $ 12,095 | $ 12,541 | $ 24,406 | $ 24,779 |
Mortgage banking | 758 | 770 | 1,466 | 1,704 |
Insurance | 93 | 102 | 189 | 216 |
Net gains (losses) from trading activities | 229 | 191 | 586 | 434 |
Net gains on debt securities | 20 | 41 | 145 | 42 |
Net gains from equity securities | 622 | 295 | 1,436 | 1,078 |
Lease income | 424 | 443 | 867 | 898 |
Other income of the segment (1) | 744 | 485 | 1,318 | 1,087 |
Total noninterest income | 9,489 | 9,012 | 18,787 | 18,708 |
Revenue | 21,584 | 21,553 | 43,193 | 43,487 |
Service charges on deposit accounts [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 1,206 | 1,163 | 2,300 | 2,336 |
Trust and investment fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 3,568 | 3,675 | 6,941 | 7,358 |
Brokerage advisory, commissions and other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2,318 | 2,354 | 4,511 | 4,757 |
Trust and investment management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 795 | 835 | 1,581 | 1,685 |
Investment banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 455 | 486 | 849 | 916 |
Card fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 1,025 | 1,001 | 1,969 | 1,909 |
Other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 800 | 846 | 1,570 | 1,646 |
Lending related charges and fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 349 | 376 | 696 | 756 |
Cash network fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 117 | 120 | 226 | 246 |
Commercial real estate brokerage commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 105 | 109 | 186 | 194 |
Wire transfer and other remittance fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 121 | 121 | 234 | 237 |
All other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 108 | 120 | 228 | 213 |
Other [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest income | (543) | (609) | (1,115) | (1,210) |
Mortgage banking | 2 | 2 | 4 | 4 |
Insurance | (10) | (10) | (20) | (21) |
Net gains (losses) from trading activities | 1 | 0 | 1 | 0 |
Net gains on debt securities | 0 | 0 | 0 | 0 |
Net gains from equity securities | 0 | 0 | 0 | 0 |
Lease income | 0 | 0 | 0 | 0 |
Other income of the segment (1) | (85) | (77) | (154) | (151) |
Total noninterest income | (793) | (792) | (1,552) | (1,608) |
Revenue | (1,336) | (1,401) | (2,667) | (2,818) |
Other [Member] | Service charges on deposit accounts [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (4) | (4) | (7) | (8) |
Other [Member] | Trust and investment fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (693) | (699) | (1,368) | (1,424) |
Other [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (484) | (473) | (942) | (959) |
Other [Member] | Trust and investment management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (208) | (226) | (422) | (465) |
Other [Member] | Investment banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (1) | 0 | (4) | 0 |
Other [Member] | Card fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (1) | (1) | (2) | (2) |
Other [Member] | Other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (3) | (3) | (6) | (6) |
Other [Member] | Lending related charges and fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (2) | (2) | (4) | (4) |
Other [Member] | Cash network fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Commercial real estate brokerage commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Wire transfer and other remittance fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (1) | (1) | (2) | (2) |
Other [Member] | All other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Community Banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest income | 7,066 | 7,346 | 14,314 | 14,541 |
Mortgage banking | 655 | 695 | 1,296 | 1,537 |
Insurance | 11 | 16 | 22 | 44 |
Net gains (losses) from trading activities | (11) | 24 | (6) | 23 |
Net gains on debt securities | 15 | (2) | 52 | (2) |
Net gains from equity securities | 471 | 409 | 1,072 | 1,093 |
Lease income | 0 | 0 | 0 | 0 |
Other income of the segment (1) | 969 | 749 | 1,737 | 1,343 |
Total noninterest income | 4,739 | 4,460 | 9,241 | 9,095 |
Revenue | 11,805 | 11,806 | 23,555 | 23,636 |
Community Banking [Member] | Service charges on deposit accounts [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 704 | 632 | 1,314 | 1,271 |
Community Banking [Member] | Trust and investment fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 661 | 685 | 1,300 | 1,386 |
Community Banking [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 480 | 465 | 929 | 943 |
Community Banking [Member] | Trust and investment management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 199 | 220 | 409 | 453 |
Community Banking [Member] | Investment banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (18) | 0 | (38) | (10) |
Community Banking [Member] | Card fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 929 | 904 | 1,787 | 1,725 |
Community Banking [Member] | Other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 335 | 348 | 667 | 675 |
Community Banking [Member] | Lending related charges and fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 65 | 69 | 130 | 145 |
Community Banking [Member] | Cash network fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 117 | 118 | 226 | 243 |
Community Banking [Member] | Commercial real estate brokerage commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Community Banking [Member] | Wire transfer and other remittance fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 71 | 67 | 135 | 130 |
Community Banking [Member] | All other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 82 | 94 | 176 | 157 |
Wholesale Banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest income | 4,535 | 4,693 | 9,069 | 9,225 |
Mortgage banking | 104 | 75 | 172 | 168 |
Insurance | 75 | 78 | 153 | 157 |
Net gains (losses) from trading activities | 226 | 154 | 559 | 379 |
Net gains on debt securities | 5 | 42 | 93 | 43 |
Net gains from equity securities | 116 | 89 | 193 | 182 |
Lease income | 424 | 443 | 867 | 898 |
Other income of the segment (1) | (147) | (172) | (267) | (84) |
Total noninterest income | 2,530 | 2,504 | 5,107 | 5,251 |
Revenue | 7,065 | 7,197 | 14,176 | 14,476 |
Wholesale Banking [Member] | Service charges on deposit accounts [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 502 | 530 | 985 | 1,064 |
Wholesale Banking [Member] | Trust and investment fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 666 | 673 | 1,270 | 1,293 |
Wholesale Banking [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 74 | 78 | 152 | 145 |
Wholesale Banking [Member] | Trust and investment management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 117 | 110 | 231 | 223 |
Wholesale Banking [Member] | Investment banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 475 | 485 | 887 | 925 |
Wholesale Banking [Member] | Card fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 95 | 96 | 181 | 183 |
Wholesale Banking [Member] | Other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 464 | 496 | 901 | 968 |
Wholesale Banking [Member] | Lending related charges and fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 284 | 307 | 566 | 611 |
Wholesale Banking [Member] | Cash network fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 2 | 0 | 3 |
Wholesale Banking [Member] | Commercial real estate brokerage commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 105 | 109 | 186 | 194 |
Wholesale Banking [Member] | Wire transfer and other remittance fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 49 | 53 | 97 | 105 |
Wholesale Banking [Member] | All other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 26 | 25 | 52 | 55 |
Wealth and Investment Management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net interest income | 1,037 | 1,111 | 2,138 | 2,223 |
Mortgage banking | (3) | (2) | (6) | (5) |
Insurance | 17 | 18 | 34 | 36 |
Net gains (losses) from trading activities | 13 | 13 | 32 | 32 |
Net gains on debt securities | 0 | 1 | 0 | 1 |
Net gains from equity securities | 35 | (203) | 171 | (197) |
Lease income | 0 | 0 | 0 | 0 |
Other income of the segment (1) | 7 | (15) | 2 | (21) |
Total noninterest income | 3,013 | 2,840 | 5,991 | 5,970 |
Revenue | 4,050 | 3,951 | 8,129 | 8,193 |
Wealth and Investment Management [Member] | Service charges on deposit accounts [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 4 | 5 | 8 | 9 |
Wealth and Investment Management [Member] | Trust and investment fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2,934 | 3,016 | 5,739 | 6,103 |
Wealth and Investment Management [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2,248 | 2,284 | 4,372 | 4,628 |
Wealth and Investment Management [Member] | Trust and investment management [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 687 | 731 | 1,363 | 1,474 |
Wealth and Investment Management [Member] | Investment banking [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | (1) | 1 | 4 | 1 |
Wealth and Investment Management [Member] | Card fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2 | 2 | 3 | 3 |
Wealth and Investment Management [Member] | Other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 4 | 5 | 8 | 9 |
Wealth and Investment Management [Member] | Lending related charges and fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2 | 2 | 4 | 4 |
Wealth and Investment Management [Member] | Cash network fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Commercial real estate brokerage commissions [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Wire transfer and other remittance fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | 2 | 2 | 4 | 4 |
Wealth and Investment Management [Member] | All other fees [Member] | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Fee income | $ 0 | $ 1 | $ 0 | $ 1 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers, Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Service charges on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | $ 1,206 | $ 1,163 | $ 2,300 | $ 2,336 |
Overdraft fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 498 | 418 | 916 | 832 |
Account charges [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 708 | 745 | 1,384 | 1,504 |
Brokerage advisory, commissions and other fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 2,318 | 2,354 | 4,511 | 4,757 |
Asset-based revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 1,698 | 1,722 | 3,278 | 3,465 |
Trailing commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 289 | 321 | 569 | 652 |
Transactional revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 396 | 407 | 790 | 851 |
Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 224 | 225 | 443 | 441 |
Trust and investment management [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 795 | 835 | 1,581 | 1,685 |
Investment management fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 500 | 531 | 978 | 1,065 |
Trust fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 250 | 273 | 495 | 529 |
Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 45 | 31 | 108 | 91 |
Card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 1,025 | 1,001 | 1,969 | 1,909 |
Credit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 305 | 308 | 580 | 566 |
Credit card rewards and rebates [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other cost of revenue | 375 | 335 | 729 | 678 |
Debit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 546 | 525 | 1,053 | 1,004 |
Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 174 | 168 | 336 | 339 |
Other [Member] | Service charges on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (4) | (4) | (7) | (8) |
Other [Member] | Overdraft fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Account charges [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (4) | (4) | (7) | (8) |
Other [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (484) | (473) | (942) | (959) |
Other [Member] | Asset-based revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (369) | (365) | (712) | (736) |
Other [Member] | Transactional revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (98) | (92) | (196) | (192) |
Other [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (17) | (16) | (34) | (31) |
Other [Member] | Trust and investment management [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (208) | (226) | (422) | (465) |
Other [Member] | Investment management fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Trust fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (208) | (226) | (422) | (465) |
Other [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (1) | (1) | (2) | (2) |
Other [Member] | Credit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (1) | (1) | (2) | (2) |
Other [Member] | Debit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Other [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Community Banking [Member] | Service charges on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 704 | 632 | 1,314 | 1,271 |
Community Banking [Member] | Overdraft fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 496 | 416 | 913 | 828 |
Community Banking [Member] | Account charges [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 208 | 216 | 401 | 443 |
Community Banking [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 480 | 465 | 929 | 943 |
Community Banking [Member] | Asset-based revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 369 | 365 | 712 | 736 |
Community Banking [Member] | Transactional revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 94 | 83 | 183 | 176 |
Community Banking [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 17 | 17 | 34 | 31 |
Community Banking [Member] | Trust and investment management [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 199 | 220 | 409 | 453 |
Community Banking [Member] | Investment management fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | (1) | 0 | 0 | 0 |
Community Banking [Member] | Trust fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 200 | 232 | 409 | 453 |
Community Banking [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | (12) | 0 | 0 |
Community Banking [Member] | Card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 929 | 904 | 1,787 | 1,725 |
Community Banking [Member] | Credit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 209 | 211 | 398 | 382 |
Community Banking [Member] | Debit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 546 | 525 | 1,053 | 1,004 |
Community Banking [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 174 | 168 | 336 | 339 |
Wholesale Banking [Member] | Service charges on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 502 | 530 | 985 | 1,064 |
Wholesale Banking [Member] | Overdraft fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 1 | 1 | 2 | 3 |
Wholesale Banking [Member] | Account charges [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 501 | 529 | 983 | 1,061 |
Wholesale Banking [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 74 | 78 | 152 | 145 |
Wholesale Banking [Member] | Asset-based revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wholesale Banking [Member] | Transactional revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 10 | 16 | 26 | 28 |
Wholesale Banking [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 64 | 62 | 126 | 117 |
Wholesale Banking [Member] | Trust and investment management [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 117 | 110 | 231 | 223 |
Wholesale Banking [Member] | Investment management fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wholesale Banking [Member] | Trust fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 83 | 82 | 165 | 168 |
Wholesale Banking [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 34 | 28 | 66 | 55 |
Wholesale Banking [Member] | Card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 95 | 96 | 181 | 183 |
Wholesale Banking [Member] | Credit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 95 | 96 | 181 | 183 |
Wholesale Banking [Member] | Debit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wholesale Banking [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Service charges on deposit accounts [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 4 | 5 | 8 | 9 |
Wealth and Investment Management [Member] | Overdraft fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 1 | 1 | 1 | 1 |
Wealth and Investment Management [Member] | Account charges [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 3 | 4 | 7 | 8 |
Wealth and Investment Management [Member] | Brokerage advisory, commissions and other fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 2,248 | 2,284 | 4,372 | 4,628 |
Wealth and Investment Management [Member] | Asset-based revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 1,698 | 1,722 | 3,278 | 3,465 |
Wealth and Investment Management [Member] | Transactional revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 390 | 400 | 777 | 839 |
Wealth and Investment Management [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 160 | 162 | 317 | 324 |
Wealth and Investment Management [Member] | Trust and investment management [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 687 | 731 | 1,363 | 1,474 |
Wealth and Investment Management [Member] | Investment management fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 501 | 531 | 978 | 1,065 |
Wealth and Investment Management [Member] | Trust fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 175 | 185 | 343 | 373 |
Wealth and Investment Management [Member] | Other revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 11 | 15 | 42 | 36 |
Wealth and Investment Management [Member] | Card fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 2 | 2 | 3 | 3 |
Wealth and Investment Management [Member] | Credit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 2 | 2 | 3 | 3 |
Wealth and Investment Management [Member] | Debit card interchange and network revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | 0 | 0 | 0 | 0 |
Wealth and Investment Management [Member] | Late fees, cash advance fees, balance transfer fees, and annual fees [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Fee income | $ 0 | $ 0 | $ 0 | $ 0 |
Employee Benefits, Components o
Employee Benefits, Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 120 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | |
Qualified Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | $ 3 | $ 2 | $ 6 | $ 3 | |
Interest cost | 104 | 98 | 209 | 196 | |
Expected return on plan assets | (142) | (161) | (284) | (321) | |
Amortization of net actuarial loss (gain) | 37 | 33 | 74 | 66 | |
Amortization of prior service credit | 0 | 0 | 0 | 0 | |
Settlement loss | 0 | 0 | 0 | 0 | |
Net periodic benefit cost (income) | 2 | (28) | 5 | (56) | |
Nonqualified Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 5 | 6 | 11 | 11 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Amortization of net actuarial loss (gain) | 3 | 3 | 5 | 6 | |
Amortization of prior service credit | 0 | 0 | 0 | 0 | |
Settlement loss | 0 | 0 | 2 | 3 | |
Net periodic benefit cost (income) | 8 | 9 | 18 | 20 | |
Other benefits [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Service cost | 0 | 0 | 0 | 0 | |
Interest cost | 6 | 5 | 11 | 10 | |
Expected return on plan assets | (7) | (8) | (14) | (15) | |
Amortization of net actuarial loss (gain) | (4) | (5) | (8) | (9) | |
Amortization of prior service credit | (3) | (2) | (5) | (5) | |
Settlement loss | 0 | 0 | 0 | 0 | |
Net periodic benefit cost (income) | $ (8) | $ (10) | $ (16) | $ (19) | |
Cash Balance Plan [Member] | |||||
Components of net periodic benefit cost [Abstract] | |||||
Net periodic benefit cost (income) | $ 0 |
Earnings and Dividends Per Co_3
Earnings and Dividends Per Common Share, Calculation of Earnings and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Common Share [Abstract] | ||||
Wells Fargo net income | $ 6,206 | $ 5,186 | $ 12,066 | $ 10,322 |
Less: Preferred stock dividends and other | 358 | 394 | 711 | 797 |
Wells Fargo net income applicable to common stock (numerator) | $ 5,848 | $ 4,792 | $ 11,355 | $ 9,525 |
Earnings per common share | ||||
Average common shares outstanding (denominator) | 4,469.4 | 4,865.8 | 4,510.2 | 4,875.7 |
Per share | $ 1.31 | $ 0.98 | $ 2.52 | $ 1.95 |
Diluted earnings per common share | ||||
Average common shares outstanding (in shares) | 4,469.4 | 4,865.8 | 4,510.2 | 4,875.7 |
Diluted average common shares outstanding (denominator) | 4,495 | 4,899.8 | 4,540.1 | 4,916.1 |
Per share | $ 1.30 | $ 0.98 | $ 2.50 | $ 1.94 |
Stock Option [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 0.1 | 8.2 | 1.4 | 9 |
Restricted Share Rights [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 25.5 | 20.7 | 28.5 | 25.4 |
Warrants [Member] | ||||
Diluted earnings per common share | ||||
Weighted average number of diluted shares outstanding, adjustment (in shares) | 0 | 5.1 | 0 | 6 |
Earnings and Dividends Per Co_4
Earnings and Dividends Per Common Share, Antidilutive Securities Excluded from the Calculation of Diluted Earnings per Common Share (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Instruments | 0 | 0 | 0 | 0.5 |
Series L [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Instruments | 25.3 | 25.3 | 25.3 | 25.3 |
Earnings and Dividends Per Co_5
Earnings and Dividends Per Common Share Dividends Declared Per Common Shares (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | ||||
Dividends declared per common share (in dollars per share) | $ 0.450 | $ 0.390 | $ 0.900 | $ 0.780 |
Other Comprehensive Income, Com
Other Comprehensive Income, Components of Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Debt securities: | ||||
Net unrealized gains (losses) arising during the period, Before tax | $ 1,709 | $ (617) | $ 4,540 | $ (4,060) |
Net unrealized gains (losses) arising during the period, Tax effect | (422) | 152 | (1,117) | 1,000 |
Net unrealized gains (losses) arising during the period, Net of tax | 1,287 | (465) | 3,423 | (3,060) |
Reclassification of net (gains) losses to net income, Before tax | 39 | 49 | (42) | 117 |
Reclassification of net (gains) losses to net income, Tax effect | (9) | (12) | 11 | (29) |
Reclassification of net (gains) losses to net income, Net of tax | 30 | 37 | (31) | 88 |
Net change, Before tax | 1,748 | (568) | 4,498 | (3,943) |
Net change, Tax effect | (431) | 140 | (1,106) | 971 |
Net change, Net of tax | 1,317 | (428) | 3,392 | (2,972) |
Cash Flow Hedges: | ||||
Reclassification of net losses to net income on cash flow hedges, Before Tax | 79 | 77 | 158 | 137 |
Net change, Before tax | 136 | (73) | 180 | (255) |
Net change, Tax effect | (34) | 18 | (44) | 63 |
Net change, Net of tax | 102 | (55) | 136 | (192) |
Defined benefit plans adjustments: | ||||
Net actuarial and prior service gains (losses) arising during the period, Before tax | 0 | 0 | (4) | 6 |
Net actuarial and prior service gains (losses) arising during the period, Tax effect | 0 | 0 | 1 | (2) |
Net actuarial and prior service gains (losses) arising during the period, Net of tax | 0 | 0 | (3) | 4 |
Amortization of net actuarial loss, Before tax | 36 | 31 | 71 | 63 |
Amortization of net actuarial loss, Tax effect | (9) | (7) | (17) | (15) |
Amortization of net actuarial loss, Net of tax | 27 | 24 | 54 | 48 |
Settlements and other, Before tax | (3) | (2) | (3) | (2) |
Settlements and other, Tax effect | 2 | 0 | 2 | 1 |
Settlements and other, Net of tax | (1) | (2) | (1) | (1) |
Reclassification of amounts to non interest expense, Before tax | 33 | 29 | 68 | 61 |
Reclassification of amounts to non interest expense, Tax effect | (7) | (7) | (15) | (14) |
Reclassification of amounts to non interest expense, Net of tax | 26 | 22 | 53 | 47 |
Net change, Before tax | 33 | 29 | 64 | 67 |
Net change, Tax effect | (7) | (7) | (14) | (16) |
Net change, Net of tax | 26 | 22 | 50 | 51 |
Foreign currency translation adjustments: | ||||
Net unrealized gains (losses) arising during the period, Before tax | 14 | (83) | 56 | (85) |
Net unrealized gains (losses) arising during the period, Tax effect | (1) | 3 | (3) | (2) |
Net unrealized gains (losses) arising during the period, Net of tax | 13 | (80) | 53 | (87) |
Net change, Before tax | 14 | (83) | 56 | (85) |
Net change, Tax effect | (1) | 3 | (3) | (2) |
Net change, Net of tax | 13 | (80) | 53 | (87) |
Other comprehensive income (loss), before tax | 1,931 | (695) | 4,798 | (4,216) |
Other comprehensive income (loss), tax effect | (473) | 154 | (1,167) | 1,016 |
Other comprehensive income (loss), net of tax | 1,458 | (541) | 3,631 | (3,200) |
Less: Other comprehensive loss from noncontrolling interests | 0 | (1) | 0 | (1) |
Wells Fargo other comprehensive income (loss), net of tax | 1,458 | (540) | 3,631 | (3,199) |
Cash Flow Hedging [Member] | ||||
Cash Flow Hedges: | ||||
Net unrealized gains (losses) arising during the period on cash flow hedges, Before Tax | 1 | 0 | (8) | (266) |
Net unrealized gains (losses) arising during the period on cash flow hedges, Tax | 0 | 0 | 2 | 66 |
Net unrealized gains (losses) arising during the period on cash flow hedges, Net of Tax | 1 | 0 | (6) | (200) |
Reclassification of net losses to net income on cash flow hedges, Before Tax | 79 | 77 | 158 | 137 |
Reclassification of net losses to net income on cash flow hedges, Tax | (20) | (19) | (39) | (34) |
Reclassification of net losses to net income on cash flow hedges, Net of Tax | 59 | 58 | 119 | 103 |
Fair Value Hedging [Member] | ||||
Fair Value Hedges: | ||||
Change in fair value of excluded components on fair value hedges, Before Tax | 56 | (150) | 30 | (126) |
Change in fair value of excluded components on fair value hedges, Tax | (14) | 37 | (7) | 31 |
Change in fair value of excluded components on fair value hedges, Net of Tax | 42 | (113) | 23 | (95) |
Interest expense on long-term debt [Member] | Cash Flow Hedging [Member] | ||||
Cash Flow Hedges: | ||||
Reclassification of net losses to net income on cash flow hedges, Before Tax | 2 | 0 | 3 | 0 |
Reclassification of net losses to net income on cash flow hedges, Tax | (1) | 0 | (1) | 0 |
Reclassification of net losses to net income on cash flow hedges, Net of Tax | 1 | 0 | 2 | 0 |
Other noninterest income [Member] | ||||
Debt securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (2) | 0 | (3) | 0 |
Reclassification of net (gains) losses to net income, Tax effect | 1 | 0 | 1 | 0 |
Reclassification of net (gains) losses to net income, Net of tax | (1) | 0 | (2) | 0 |
Debt securities [Member] | Interest income [Member] | ||||
Debt securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | 61 | 90 | 106 | 159 |
Reclassification of net (gains) losses to net income, Tax effect | (15) | (22) | (26) | (39) |
Reclassification of net (gains) losses to net income, Net of tax | 46 | 68 | 80 | 120 |
Debt securities [Member] | Net gains on debt securities [Member] | ||||
Debt securities: | ||||
Reclassification of net (gains) losses to net income, Before tax | (20) | (41) | (145) | (42) |
Reclassification of net (gains) losses to net income, Tax effect | 5 | 10 | 36 | 10 |
Reclassification of net (gains) losses to net income, Net of tax | (15) | (31) | (109) | (32) |
Loans [Member] | Interest income [Member] | Cash Flow Hedging [Member] | ||||
Cash Flow Hedges: | ||||
Reclassification of net losses to net income on cash flow hedges, Before Tax | 77 | 77 | 155 | 137 |
Reclassification of net losses to net income on cash flow hedges, Tax | (19) | (19) | (38) | (34) |
Reclassification of net losses to net income on cash flow hedges, Net of Tax | $ 58 | $ 58 | $ 117 | $ 103 |
Other Comprehensive Income, Cum
Other Comprehensive Income, Cumulative OCI Balances (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | $ 198,733 | $ 205,910 | $ 197,066 | $ 208,079 | |||
Balance, beginning of period adjusted balance | $ 197,055 | $ 208,055 | |||||
Other comprehensive income (loss), net of tax | 1,458 | (541) | 3,631 | (3,200) | |||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | 1 | 0 | 1 | |||
Balance, end of period | 200,037 | 206,069 | 200,037 | 206,069 | |||
Accounting Standards Update 2017-08 [Member] | |||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||
Transition Adjustment | $ (111) | ||||||
Cumulative other comprehensive income [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | (3,682) | (4,921) | (6,336) | (2,144) | |||
Balance, beginning of period adjusted balance | (5,855) | (2,262) | |||||
Net unrealized gains (losses) arising during the period | 1,343 | (658) | 3,490 | (3,438) | |||
Amounts reclassified from accumulated other comprehensive income | 115 | 117 | 141 | 238 | |||
Other comprehensive income (loss), net of tax | 1,458 | (541) | 3,631 | (3,200) | |||
Balance, end of period | (2,224) | (5,461) | (2,224) | (5,461) | |||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2017-08 [Member] | |||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||
Transition Adjustment | 481 | ||||||
Cumulative other comprehensive income [Member] | Accounting Standards Update 2016-01 [Member] | |||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||
Transition Adjustment | (118) | ||||||
Debt securities, parent [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | (566) | (2,491) | (3,122) | 171 | |||
Balance, beginning of period adjusted balance | (2,641) | 53 | |||||
Net unrealized gains (losses) arising during the period | 1,287 | (465) | 3,423 | (3,060) | |||
Amounts reclassified from accumulated other comprehensive income | 30 | 37 | (31) | 88 | |||
Other comprehensive income (loss), net of tax | 1,317 | (428) | 3,392 | (2,972) | |||
Balance, end of period | 751 | (2,919) | 751 | (2,919) | |||
Debt securities, parent [Member] | Accounting Standards Update 2017-08 [Member] | |||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||
Transition Adjustment | 481 | ||||||
Debt securities, parent [Member] | Accounting Standards Update 2016-01 [Member] | |||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||
Transition Adjustment | (118) | ||||||
Derivative and hedging activities, parent [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | (651) | (555) | (685) | (418) | |||
Balance, beginning of period adjusted balance | (685) | (418) | |||||
Net unrealized gains (losses) arising during the period | 43 | (113) | 17 | (295) | |||
Amounts reclassified from accumulated other comprehensive income | 59 | 58 | 119 | 103 | |||
Other comprehensive income (loss), net of tax | 102 | (55) | 136 | (192) | |||
Balance, end of period | (549) | (610) | (549) | (610) | |||
Defined benefit plans adjustments, parent [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | (2,272) | (1,779) | (2,296) | (1,808) | |||
Balance, beginning of period adjusted balance | (2,296) | (1,808) | |||||
Net unrealized gains (losses) arising during the period | 0 | 0 | (3) | 4 | |||
Amounts reclassified from accumulated other comprehensive income | 26 | 22 | 53 | 47 | |||
Other comprehensive income (loss), net of tax | 26 | 22 | 50 | 51 | |||
Balance, end of period | (2,246) | (1,757) | (2,246) | (1,757) | |||
Foreign currency translation adjustments, parent [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | (193) | (96) | (233) | (89) | |||
Balance, beginning of period adjusted balance | (233) | (89) | |||||
Net unrealized gains (losses) arising during the period | 13 | (80) | 53 | (87) | |||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 | |||
Other comprehensive income (loss), net of tax | 13 | (80) | 53 | (87) | |||
Balance, end of period | (180) | (175) | (180) | (175) | |||
Noncontrolling Interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Balance, beginning of period | 901 | 958 | 900 | 1,143 | |||
Balance, beginning of period adjusted balance | $ 900 | $ 1,143 | |||||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | (1) | 0 | (1) | |||
Balance, end of period | 995 | 881 | 995 | 881 | |||
AOCI Attributable to Noncontrolling Interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | (1) | 0 | (1) | |||
Debt securities, noncontrolling interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | |||
Derivative and hedging activities, noncontrolling interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | |||
Defined benefit plans adjustments, noncontrolling interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Less: Other comprehensive income (loss) from noncontrolling interests | 0 | 0 | 0 | 0 | |||
Foreign currency translation adjustments, noncontrolling interest [Member] | |||||||
Cumulative OCI balances [Abstract] | |||||||
Less: Other comprehensive income (loss) from noncontrolling interests | $ 0 | $ (1) | $ 0 | $ (1) |
Regulatory and Agency Capital_3
Regulatory and Agency Capital Requirements (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Parent Company [Member] | ||
Supplementary leverage: | ||
Total Leverage Exposure | $ 2,202,607 | $ 2,174,564 |
Supplementary Leverage Ratio | 7.75% | 7.72% |
Parent Company [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 149,183 | $ 146,363 |
Tier 1 | 170,675 | 167,866 |
Total | 200,810 | 198,798 |
Assets: | ||
Risk-weighted assets | 1,182,838 | 1,177,350 |
Adjusted average | $ 1,871,806 | $ 1,850,299 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 12.61% | 12.43% |
Tier 1 capital | 14.43% | 14.26% |
Total capital | 16.98% | 16.89% |
Tier 1 leverage | 9.12% | 9.07% |
Parent Company [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 149,183 | $ 146,363 |
Tier 1 | 170,675 | 167,866 |
Total | 208,817 | 207,041 |
Assets: | ||
Risk-weighted assets | 1,246,683 | 1,247,210 |
Adjusted average | $ 1,871,806 | $ 1,850,299 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 11.97% | 11.74% |
Tier 1 capital | 13.69% | 13.46% |
Total capital | 16.75% | 16.60% |
Tier 1 leverage | 9.12% | 9.07% |
Wells Fargo Bank, NA [Member] | ||
Supplementary leverage: | ||
Total Leverage Exposure | $ 1,964,107 | $ 1,957,276 |
Supplementary Leverage Ratio | 7.46% | 7.29% |
Wells Fargo Bank, NA [Member] | Advanced Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 146,505 | $ 142,685 |
Tier 1 | 146,505 | 142,685 |
Total | 159,090 | 155,558 |
Assets: | ||
Risk-weighted assets | 1,059,642 | 1,058,653 |
Adjusted average | $ 1,654,994 | $ 1,652,009 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 13.83% | 13.48% |
Tier 1 capital | 13.83% | 13.48% |
Total capital | 15.01% | 14.69% |
Tier 1 leverage | 8.85% | 8.64% |
Wells Fargo Bank, NA [Member] | Standardized Approach Under Basel III [Member] | ||
Regulatory capital: | ||
Common equity tier 1 | $ 146,505 | $ 142,685 |
Tier 1 | 146,505 | 142,685 |
Total | 166,648 | 163,380 |
Assets: | ||
Risk-weighted assets | 1,144,959 | 1,154,182 |
Adjusted average | $ 1,654,994 | $ 1,652,009 |
Regulatory capital ratios: | ||
Common equity tier 1 capital | 12.80% | 12.36% |
Tier 1 capital | 12.80% | 12.36% |
Total capital | 14.56% | 14.16% |
Tier 1 leverage | 8.85% | 8.64% |
Regulatory and Agency Capital_4
Regulatory and Agency Capital Requirements Minimum Required Regulatory Capital Ratios – Transition Requirements (Details) | Jun. 30, 2019 | Dec. 31, 2018 |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Risk Based Common Equity Required for Capital Adequacy to Risk Weighted Assets | 9.00% | 7.875% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | 9.375% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 12.50% | 11.375% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Enhanced Supplementary Leverage Capital Required Ratio | 5.00% | 5.00% |
Capital Conservation Buffer | 2.50% | |
GSIB Surcharge | 2.00% | |
Wells Fargo Bank, NA [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Risk Based Common Equity Required for Capital Adequacy to Risk Weighted Assets | 7.00% | 6.375% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | 7.875% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | 9.875% |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Enhanced Supplementary Leverage Capital Required Ratio | 6.00% | 6.00% |
Capital Conservation Buffer | 2.50% |
Operating Segments (Details)
Operating Segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)segment | Jun. 30, 2018USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of reportable operating segments | segment | 3 | |||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | $ 12,095 | $ 12,541 | $ 24,406 | $ 24,779 |
Provision (reversal of provision) for credit losses | 503 | 452 | 1,348 | 643 |
Noninterest income | 9,489 | 9,012 | 18,787 | 18,708 |
Noninterest expense | 13,449 | 13,982 | 27,365 | 29,024 |
Income before income tax expense | 7,632 | 7,119 | 14,480 | 13,820 |
Income tax expense (benefit) | 1,294 | 1,810 | 2,175 | 3,184 |
Net income before noncontrolling interests | 6,338 | 5,309 | 12,305 | 10,636 |
Less: Net income from noncontrolling interests | 132 | 123 | 239 | 314 |
Wells Fargo net income | 6,206 | 5,186 | 12,066 | 10,322 |
Average loans | 947,500 | 944,100 | 948,700 | 947,500 |
Average assets | 1,900,600 | 1,884,900 | 1,891,900 | 1,900,300 |
Average Deposits | 1,269,000 | 1,271,300 | 1,265,500 | 1,284,200 |
Other [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | (543) | (609) | (1,115) | (1,210) |
Provision (reversal of provision) for credit losses | (3) | 6 | (6) | 5 |
Noninterest income | (793) | (792) | (1,552) | (1,608) |
Noninterest expense | (891) | (888) | (1,805) | (1,816) |
Income before income tax expense | (442) | (519) | (856) | (1,007) |
Income tax expense (benefit) | (110) | (129) | (214) | (251) |
Net income before noncontrolling interests | (332) | (390) | (642) | (756) |
Less: Net income from noncontrolling interests | 0 | 0 | 0 | 0 |
Wells Fargo net income | (332) | (390) | (642) | (756) |
Average loans | (59,200) | (59,100) | (59,100) | (58,800) |
Average assets | (60,200) | (59,800) | (60,100) | (59,600) |
Average Deposits | (62,500) | (70,400) | (64,500) | (72,300) |
Community Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 7,066 | 7,346 | 14,314 | 14,541 |
Provision (reversal of provision) for credit losses | 479 | 484 | 1,189 | 702 |
Noninterest income | 4,739 | 4,460 | 9,241 | 9,095 |
Noninterest expense | 7,212 | 7,290 | 14,901 | 15,992 |
Income before income tax expense | 4,114 | 4,032 | 7,465 | 6,942 |
Income tax expense (benefit) | 838 | 1,413 | 1,262 | 2,222 |
Net income before noncontrolling interests | 3,276 | 2,619 | 6,203 | 4,720 |
Less: Net income from noncontrolling interests | 129 | 123 | 233 | 311 |
Wells Fargo net income | 3,147 | 2,496 | 5,970 | 4,409 |
Average loans | 457,700 | 463,800 | 457,900 | 467,100 |
Average assets | 1,024,800 | 1,034,300 | 1,020,100 | 1,048,000 |
Average Deposits | 777,600 | 760,600 | 771,600 | 754,100 |
Wholesale Banking [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 4,535 | 4,693 | 9,069 | 9,225 |
Provision (reversal of provision) for credit losses | 28 | (36) | 162 | (56) |
Noninterest income | 2,530 | 2,504 | 5,107 | 5,251 |
Noninterest expense | 3,882 | 4,219 | 7,720 | 8,197 |
Income before income tax expense | 3,155 | 3,014 | 6,294 | 6,335 |
Income tax expense (benefit) | 365 | 379 | 734 | 827 |
Net income before noncontrolling interests | 2,790 | 2,635 | 5,560 | 5,508 |
Less: Net income from noncontrolling interests | 1 | 0 | 1 | (2) |
Wells Fargo net income | 2,789 | 2,635 | 5,559 | 5,510 |
Average loans | 474,000 | 464,700 | 475,200 | 464,900 |
Average assets | 852,200 | 826,400 | 848,400 | 827,800 |
Average Deposits | 410,400 | 414,000 | 410,100 | 429,900 |
Wealth and Investment Management [Member] | ||||
Financial Information of Operating Segment [Abstract] | ||||
Net interest income | 1,037 | 1,111 | 2,138 | 2,223 |
Provision (reversal of provision) for credit losses | (1) | (2) | 3 | (8) |
Noninterest income | 3,013 | 2,840 | 5,991 | 5,970 |
Noninterest expense | 3,246 | 3,361 | 6,549 | 6,651 |
Income before income tax expense | 805 | 592 | 1,577 | 1,550 |
Income tax expense (benefit) | 201 | 147 | 393 | 386 |
Net income before noncontrolling interests | 604 | 445 | 1,184 | 1,164 |
Less: Net income from noncontrolling interests | 2 | 0 | 5 | 5 |
Wells Fargo net income | 602 | 445 | 1,179 | 1,159 |
Average loans | 75,000 | 74,700 | 74,700 | 74,300 |
Average assets | 83,800 | 84,000 | 83,500 | 84,100 |
Average Deposits | $ 143,500 | $ 167,100 | $ 148,300 | $ 172,500 |