Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 30, 2015 | |
Entity Registrant Name | SUNTRUST BANKS INC | |
Entity Central Index Key | 750,556 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 509,612,975 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |||||
Interest Income | ||||||||
Interest and fees on loans | $ 1,139 | $ 1,152 | $ 3,345 | $ 3,464 | ||||
Interest and fees on loans held for sale | 20 | 30 | 66 | 61 | ||||
Interest and Dividend Income, Securities, Available-for-sale | 153 | 153 | 430 | 456 | ||||
Trading account interest and other | 21 | 18 | 61 | 55 | ||||
Total interest income | 1,333 | 1,353 | 3,902 | 4,036 | ||||
Interest Expense | ||||||||
Interest on deposits | 54 | 54 | 165 | 180 | ||||
Interest Expense, Long-term Debt | 60 | 74 | 196 | 198 | ||||
Interest on other borrowings | 8 | 10 | 23 | 29 | ||||
Total interest expense | 122 | 138 | 384 | 407 | ||||
Net, interest income | 1,211 | 1,215 | 3,518 | 3,629 | ||||
Provision for Loan, Lease, and Other Losses | 32 | [1] | 93 | [1] | 114 | [2] | 268 | [2] |
Interest Income (Expense), after Provision for Loan Loss | 1,179 | 1,122 | 3,404 | 3,361 | ||||
Noninterest Income | ||||||||
Service charges on deposit accounts | 159 | 169 | 466 | 483 | ||||
Fees and Commissions, Other | 97 | 95 | 285 | 274 | ||||
Fees and Commissions, Credit and Debit Cards | 83 | 81 | 247 | 239 | ||||
Investment Banking Revenue | 115 | 88 | 357 | 296 | ||||
Trading Gain (Loss) | 31 | 46 | 140 | 141 | ||||
Fees and Commissions, Fiduciary and Trust Activities | 86 | 93 | 255 | 339 | ||||
Investment Advisory, Management and Administrative Fees | 77 | 76 | 229 | 224 | ||||
Fees and Commissions, Mortgage Banking | 58 | 45 | 217 | 140 | ||||
Servicing Fees, Net | 40 | 44 | 113 | 143 | ||||
Gain (Loss) on Disposition of Business | 0 | 0 | 0 | 105 | ||||
Gain (Loss) on Sale of Securities, Net | 7 | (9) | 21 | (11) | ||||
Noninterest Income, Other Operating Income | 58 | 52 | 173 | 155 | ||||
Total noninterest income | 811 | 780 | 2,503 | 2,528 | ||||
Noninterest Expense | ||||||||
Employee compensation | 641 | 649 | 1,926 | 1,967 | ||||
Other Labor-related Expenses | 84 | 81 | 326 | 326 | ||||
Outside processing and software | 200 | 184 | 593 | 535 | ||||
Net occupancy expense | 86 | 84 | 255 | 254 | ||||
Equipment Expense | 41 | 41 | 123 | 127 | ||||
Federal Deposit Insurance Corporation Premium Expense | 32 | 29 | 104 | 109 | ||||
Marketing and Advertising Expense | 42 | 35 | 104 | 91 | ||||
Credit and collection services | 8 | 21 | 52 | 67 | ||||
Professional Fees | 23 | 16 | 48 | 43 | ||||
Operating losses | 3 | 29 | 33 | 268 | ||||
Amortization | 9 | 7 | 22 | 14 | ||||
Other Noninterest Expense | (95) | (83) | (286) | (333) | ||||
Noninterest Expense | 1,264 | 1,259 | 3,872 | 4,134 | ||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 726 | 643 | 2,035 | 1,755 | ||||
Income Tax Expense (Benefit) | 187 | 67 | 579 | 364 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 539 | 576 | 1,456 | 1,391 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 0 | 7 | 11 | ||||
Net Income (Loss) Attributable to Parent | 537 | 576 | 1,449 | 1,380 | ||||
Net Income (Loss) Available to Common Stockholders, Basic | $ 519 | $ 563 | $ 1,396 | $ 1,343 | ||||
Earnings Per Share, Diluted | $ 1 | $ 1.06 | $ 2.67 | $ 2.51 | ||||
Earnings Per Share, Basic | 1.01 | 1.07 | 2.70 | 2.54 | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.24 | $ 0.20 | $ 0.68 | $ 0.50 | ||||
Weighted Average Number of Shares Outstanding, Diluted | 518,677 | 533,230 | 522,634 | 535,222 | ||||
Weighted Average Number of Shares Outstanding, Basic | 513,010 | 527,402 | 516,970 | 529,429 | ||||
[1] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[2] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income (Loss) Attributable to Parent | $ 537 | $ 576 | $ 1,449 | $ 1,380 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 119 | (37) | 4 | 246 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 84 | (82) | 94 | (168) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 3 | 1 | (64) | 34 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 206 | (118) | 34 | 112 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 743 | $ 458 | $ 1,483 | $ 1,492 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | $ 70 | $ (21) | $ 6 | $ 144 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax | 50 | (48) | 57 | (98) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | $ 1 | $ 1 | $ (44) | $ 20 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and Due from Banks | $ 3,788 | $ 7,047 | |
Federal Funds Sold and Securities Purchased under Agreements to Resell | 1,105 | 1,160 | |
Interest-bearing Deposits in Banks and Other Financial Institutions | 23 | 22 | |
Cash and cash equivalents | 4,916 | 8,229 | |
Trading assets | [1] | 6,537 | 6,202 |
Available-for-sale Securities | [2] | 27,270 | 26,770 |
Loans Held for Sale | [3] | 2,032 | 3,232 |
Loans held for investment | [4] | 133,560 | 133,112 |
Loans and Leases Receivable, Allowance | (1,786) | (1,937) | |
Net loans | 131,774 | 131,175 | |
Premises and equipment | 1,430 | 1,508 | |
Goodwill | 6,337 | 6,337 | |
Intangible Assets, Net (Excluding Goodwill) | 1,282 | 1,219 | |
Other Assets | 5,458 | 5,656 | |
Total assets | 187,036 | 190,328 | |
Liabilities and Shareholders' Equity | |||
Noninterest-bearing consumer and commercial deposits | 41,487 | 41,096 | |
Interest-bearing Deposit Liabilities | 104,884 | 99,471 | |
Total deposits | 146,371 | 140,567 | |
Funds purchased | 1,329 | 1,276 | |
Securities Sold under Agreements to Repurchase | 1,536 | 2,276 | |
Other Short-term Borrowings | 1,077 | 5,634 | |
Long-term Debt | [5] | 8,444 | 13,022 |
Trading liabilities | 1,330 | 1,227 | |
Other Liabilities | 3,285 | 3,321 | |
Total liabilities | 163,372 | 167,323 | |
Preferred Stock, Value, Outstanding | 1,225 | 1,225 | |
Common Stock, Value, Outstanding | 550 | 550 | |
Additional paid in capital | 9,087 | 9,089 | |
Retained earnings | 14,341 | 13,295 | |
Treasury stock, at cost, and other | [6] | (1,451) | (1,032) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (88) | (122) | |
Total shareholders' equity | 23,664 | 23,005 | |
Total liabilities and shareholders' equity | $ 187,036 | $ 190,328 | |
Common Stock, Shares, Outstanding | [7] | 514,106 | 524,540 |
Common shares authorized | 750,000 | 750,000 | |
Preferred Stock, Shares Outstanding | 12 | 12 | |
Preferred Stock, Shares Authorized | 50,000 | 50,000 | |
Treasury shares of common stock | 35,815 | 25,381 | |
Treasury Stock and Other | |||
Liabilities and Shareholders' Equity | |||
Treasury stock, at cost, and other | $ (1,550) | ||
Total shareholders' equity | [8] | (1,451) | $ (1,032) |
Stockholders' Equity Attributable to Noncontrolling Interest | (106) | 108 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Assets | |||
Loans held for investment | 256 | 288 | |
Liabilities and Shareholders' Equity | |||
Long-term Debt | $ 270 | $ 302 | |
Restricted Stock [Member] | |||
Liabilities and Shareholders' Equity | |||
Common Stock, Shares, Outstanding | 1,556 | 2,930 | |
Trading Securities [Member] | |||
Liabilities and Shareholders' Equity | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 1,152 | $ 1,316 | |
Available-for-sale Securities [Member] | |||
Liabilities and Shareholders' Equity | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 0 | $ 369 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | ||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. | ||
[3] | Includes $1.9 billion of LHFS measured at fair value at both September 30, 2015 and December 31, 2014. | ||
[4] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | ||
[5] | Includes debt of consolidated VIEs of $270 million and $302 million at September 30, 2015 and December 31, 2014, respectively. | ||
[6] | Includes noncontrolling interest of $106 million and $108 million at September 30, 2015 and December 31, 2014, respectively. | ||
[7] | Includes restricted shares of 1,556 thousand and 2,930 thousand at September 30, 2015 and December 31, 2014, respectively. | ||
[8] | At September 30, 2015, includes ($1,550) million for treasury stock, ($7) million for the compensation element of restricted stock, and $106 million for noncontrolling interest.At September 30, 2014, includes ($1,015) million for treasury stock, ($27) million for the compensation element of restricted stock, and $103 million for noncontrolling interest. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Loans Held-for-sale, Fair Value Disclosure | $ 1,883 | $ 1,892 | |
Loans Receivable, Fair Value Disclosure | 262 | 272 | |
Servicing Asset at Fair Value, Amount | 1,262 | 1,206 | |
Long-term Debt, Fair Value | $ 986 | $ 1,283 | |
Common stock, par value | $ 1 | $ 1 | |
Loans Receivable Held-for-sale, Net | [1] | $ 2,032 | $ 3,232 |
Loans held for investment | [2] | 133,560 | 133,112 |
Long-term Debt | [3] | $ 8,444 | $ 13,022 |
Common Stock, Shares, Outstanding | [4] | 514,106 | 524,540 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Loans held for investment | $ 256 | $ 288 | |
Long-term Debt | 270 | 302 | |
Treasury Stock and Other | |||
Stockholders' Equity Attributable to Noncontrolling Interest | (106) | 108 | |
Residential Portfolio Segment [Member] | |||
Loans Receivable, Fair Value Disclosure | 262 | 272 | |
Loans held for investment | $ 38,788 | $ 38,775 | |
Restricted Stock [Member] | |||
Common Stock, Shares, Outstanding | 1,556 | 2,930 | |
Trading Securities [Member] | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 1,152 | $ 1,316 | |
Available-for-sale Securities [Member] | |||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 0 | $ 369 | |
[1] | Includes $1.9 billion of LHFS measured at fair value at both September 30, 2015 and December 31, 2014. | ||
[2] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | ||
[3] | Includes debt of consolidated VIEs of $270 million and $302 million at September 30, 2015 and December 31, 2014, respectively. | ||
[4] | Includes restricted shares of 1,556 thousand and 2,930 thousand at September 30, 2015 and December 31, 2014, respectively. |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock and Other | [1] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock [Member]Common Stock [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, beginning of period at Dec. 31, 2013 | $ 21,422 | $ 725 | $ 550 | $ 9,115 | $ 11,936 | $ (615) | $ (289) | ||||
Common Stock, Shares, Outstanding, beginning of period at Dec. 31, 2013 | 536,000 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income (Loss) Attributable to Parent | 1,380 | 1,380 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | 112 | 112 | |||||||||
Dividends, Common Stock, Cash | (266) | (266) | |||||||||
Dividends, Preferred Stock, Cash | (28) | (28) | [2] | ||||||||
Treasury Stock, Shares, Acquired | (9,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (348) | (348) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | ||||||||||
Stock Issued During Period, Value, Stock Options Exercised | 1 | (14) | 15 | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 0 | ||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 12 | 13 | (2) | 1 | |||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 21 | 21 | |||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 0 | ||||||||||
Stock Issued During Period, Value, Employee Benefit Plan | 2 | (1) | 3 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | (39) | (23) | (16) | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, end of period at Sep. 30, 2014 | 22,269 | 725 | $ 550 | 9,090 | 13,020 | (939) | (177) | ||||
Common Stock, Shares, Outstanding, end of period at Sep. 30, 2014 | 527,000 | ||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, beginning of period at Dec. 31, 2014 | $ 23,005 | 1,225 | $ 550 | 9,089 | 13,295 | (1,032) | (122) | ||||
Common Stock, Shares, Outstanding, beginning of period at Dec. 31, 2014 | 524,540 | [3] | 525,000 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income (Loss) Attributable to Parent | $ 1,449 | 1,449 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | 34 | 34 | |||||||||
Noncontrolling Interest, Period Increase (Decrease) | (2) | (2) | |||||||||
Dividends, Common Stock, Cash | (352) | (352) | |||||||||
Dividends, Preferred Stock, Cash | (48) | (48) | [2] | ||||||||
Treasury Stock, Shares, Acquired | (11,000) | ||||||||||
Treasury Stock, Value, Acquired, Cost Method | (465) | (465) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | ||||||||||
Stock Issued During Period, Value, Stock Options Exercised | 9 | (16) | 25 | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 0 | ||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 18 | 14 | (3) | 7 | |||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 13 | 13 | |||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 0 | ||||||||||
Stock Issued During Period, Value, Employee Benefit Plan | 3 | 0 | 3 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, end of period at Sep. 30, 2015 | $ 23,664 | $ 1,225 | $ 550 | $ 9,087 | $ 14,341 | $ (1,451) | $ (88) | ||||
Common Stock, Shares, Outstanding, end of period at Sep. 30, 2015 | 514,106 | [3] | 514,000 | ||||||||
[1] | At September 30, 2015, includes ($1,550) million for treasury stock, ($7) million for the compensation element of restricted stock, and $106 million for noncontrolling interest.At September 30, 2014, includes ($1,015) million for treasury stock, ($27) million for the compensation element of restricted stock, and $103 million for noncontrolling interest. | ||||||||||
[2] | For the nine months ended September 30, 2015, dividends were $3,044 per share for both Perpetual Preferred Stock Series A and B, $4,406 per share for Perpetual Preferred Stock Series E, and $4,813 per share for Perpetual Preferred Stock Series F. For the nine months ended September 30, 2014, dividends were $3,044 per share for both Perpetual Preferred Stock Series A and B, and $4,406 per share for Perpetual Preferred Stock Series E. | ||||||||||
[3] | Includes restricted shares of 1,556 thousand and 2,930 thousand at September 30, 2015 and December 31, 2014, respectively. |
Consolidated Statements of Sha8
Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | ||
Treasury Stock, Value | [1] | $ (1,451) | |
Common stock dividends, per share | $ 0.68 | $ 0.50 | |
Treasury Stock and Other | |||
Treasury Stock, Value | $ (1,550) | $ (1,015) | |
Deferred Compensation Equity | (7) | (27) | |
Stockholders' Equity Attributable to Noncontrolling Interest | $ 106 | $ 103 | |
Series A Preferred Stock [Member] | |||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 3,044 | $ 3,044 | |
Series B Preferred Stock [Member] | |||
Preferred Stock, Dividends, Per Share, Cash Paid | 3,044 | 3,044 | |
Series E Preferred Stock [Member] | |||
Preferred Stock, Dividends, Per Share, Cash Paid | 4,406 | 4,406 | |
Series F Preferred Stock [Member] | |||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 4,813 | $ 0 | |
[1] | Includes noncontrolling interest of $106 million and $108 million at September 30, 2015 and December 31, 2014, respectively. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows from Operating Activities: | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 1,456 | $ 1,391 |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | ||
Gain (Loss) on Disposition of Business | 0 | (105) |
Depreciation, Amortization and Accretion, Net | 596 | 504 |
Payments to Acquire Mortgage Servicing Rights (MSR) | (185) | (137) |
Provisions For Credit Losses And Foreclosed Properties | 122 | 286 |
Stock Option Compensation And Amortization Of Restricted Stock Compensation | 65 | 50 |
Excess Tax Benefit from Share-based Compensation, Operating Activities | 18 | 5 |
Gain (Loss) on Sale of Securities, Net | (21) | 11 |
Gain (Loss) on Sale of Loans and Leases | 249 | 239 |
Net decrease/(increase) in loans held for sale | 644 | (139) |
Increase (Decrease) in Trading Securities | (183) | (1,088) |
Net (increase)/decrease in other assets | (26) | 189 |
Increase (Decrease) in Other Operating Liabilities | (196) | (155) |
Net Cash Provided by (Used in) Operating Activities | 2,005 | 563 |
Cash Flows from Investing Activities: | ||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 4,621 | 2,788 |
Proceeds from sales of securities available for sale | 2,708 | 793 |
Purchases of securities available for sale | (7,861) | (6,986) |
Proceeds from sales of trading securities | 0 | 59 |
Proceeds from (payments for) Originations and Purchases of Loans Held-for-investment | (2,097) | (7,698) |
Proceeds from sales of loans | 2,048 | 3,029 |
Payments for (Proceeds from) Mortgage Servicing Rights | 113 | 109 |
Capital expenditures | (74) | (96) |
Payments related to acquisitions, including contingent consideration | (30) | (11) |
Proceeds from Divestiture of Businesses | 0 | 193 |
Proceeds from Sale of Other Real Estate | 179 | 279 |
Net cash (used in)/provided by investing activities | (619) | (7,759) |
Cash Flows from Financing Activities: | ||
Net (decrease)/increase in total deposits | 5,804 | 6,748 |
Net increase/(decrease) in funds purchased, securities sold under agreements to repurchase, and other short-term borrowings | (5,244) | 1,633 |
Proceeds from Issuance of Long-term Debt | 1,237 | 2,574 |
Repayment of long-term debt | (5,670) | (67) |
Payments for Repurchase of Common Stock | (465) | (348) |
Common and preferred dividends paid | (393) | (294) |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options | 32 | 12 |
Net cash provided by/(used in) financing activities | (4,699) | 10,258 |
Net (decrease)/increase in cash and cash equivalents | (3,313) | 3,062 |
Cash and cash equivalents at beginning of period | 8,229 | 5,263 |
Cash and cash equivalents at end of period | 4,916 | 8,325 |
Supplemental Disclosures: | ||
Transfer of Loans Held-for-sale to Portfolio Loans | 726 | 39 |
Loans transferred from loans to loans held for sale | 1,734 | 3,183 |
Transfer to Other Real Estate | 52 | 113 |
non-cash impact of deconsolidated assets | 0 | 282 |
Non-cash impact of debt acquired by purchaser in leverage lease sale | $ 129 | $ 29 |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the results of operations in these financial statements, have been made. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could vary from these estimates. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. The Company evaluated subsequent events through the date its financial statements were issued. These financial statements should be read in conjunction with the Company ’s 2014 Annual Report on Form 10-K. In the third quarter of 2015, the Company elected to prospectively change the date of its annual goodwill impairment test from September 30 to October 1 to better align the timing of the test with the availability of key inputs. There have been no other significant changes to the Company ’s accounting policies as disclosed in the 2014 Annual Report on Form 10-K. Pending Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company 's financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2014-09, Revenue from Contracts with Customers The ASU supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. The core principle of the ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU may be adopted either retrospectively or on a modified retrospective basis to new contracts and existing contracts with remaining performance obligations as of the effective date. January 1, 2018 (early adoption permitted beginning January 1, 2017) The Company is continuing to evaluate the alternative methods of adoption and the anticipated effects on the financial statements and related disclosures. ASU 2015-02, Amendments to the Consolidation Analysis The ASU rescinds the indefinite deferral of previous amendments to ASC Topic 810 for certain entities and amends components of the consolidation analysis under ASC Topic 810, including evaluating limited partnerships and similar legal entities, evaluating fees paid to a decision maker or service provider as a variable interest, the effects of fee arrangements and/or related parties on the primary beneficiary determination and investment fund specific matters. The ASU may be adopted either retrospectively or on a modified retrospective basis. January 1, 2016 The Company will adopt this ASU on a modified retrospective basis. The Company is continuing to evaluate the impact of this ASU on the financial statements and related disclosures; however, adoption is not expected to materially impact the Company's financial position, results of operations, or EPS. |
Federal Funds Sold and Securiti
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell | 9 Months Ended |
Sep. 30, 2015 | |
Securities Purchased under Agreements to Resell [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 2 - FEDERAL FUNDS SOLD AND SECURITIES FINANCING ACTIVITIES Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell Fed funds sold and securities borrowed or purchased under agreements to resell were as follows: (Dollars in millions) September 30, 2015 December 31, 2014 Fed funds sold $55 $38 Securities borrowed 221 290 Securities purchased under agreements to resell 829 832 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,105 $1,160 Securities purchased under agreements to resell are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently resold. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The Company monitors collateral values daily and calls for additional collateral to be provided as warranted under the agreement. At both September 30, 2015 and December 31, 2014 , the total market value of collateral held was $1.1 billion , of which $219 million and $222 million was repledged, respectively. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as secured borrowings. The following table presents the Company’s related activity, by collateral type and remaining contractual maturity: September 30, 2015 December 31, 2014 (Dollars in millions) Overnight and Continuous Overnight and Continuous Up to 30 days Total U.S. Treasury securities $84 $376 $— $376 Federal agency securities 223 231 — 231 MBS - agency 868 1,059 45 1,104 CP 37 238 — 238 Corporate and other debt securities 324 327 — 327 Total securities sold under agreements to repurchase $1,536 $2,231 $45 $2,276 For these securities sold under agreements to repurchase, the Company would be obligated to provide additional collateral in the event of a significant decline in fair value of the collateral pledged. This risk is managed by monitoring the liquidity and credit quality of the collateral, as well as the maturity profile of the transactions. Netting of Securities - Repurchase and Resell Agreements The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company 's derivatives that are subject to enforceable master netting agreements or similar agreements are discussed in Note 13 , "Derivative Financial Instruments." The following table presents the Company 's securities borrowed or purchased under agreements to resell and securities sold under agreements to repurchase that are subject to MRA s. Under the terms of the MRA , all transactions between the Company and a counterparty constitute a single business relationship such that in the event of default, the nondefaulting party is entitled to set off claims and apply property held against obligations owed. Any payments, deliveries, or other transfers may be applied against each other and presented net on the Company 's Consolidated Balance Sheets, provided criteria are met that permit balance sheet netting. At September 30, 2015 and December 31, 2014 , there were no such transactions subject to a legally enforceable MRA s that were eligible for balance sheet netting. Financial instrument collateral received or pledged related to exposures subject to legally enforceable MRA s are not netted on the Consolidated Balance Sheets, but are presented in the following table as a reduction to the net amount presented in the Consolidated Balance Sheets to derive the aggregate collateral deficits by counterparty. The collateral amounts held/pledged are limited for presentation purposes to the related recognized asset/liability balance for each counterparty, and accordingly, do not include excess collateral received/pledged. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2015 Financial assets: Securities borrowed or purchased under agreements to resell $1,050 $— $1,050 1 $1,043 $7 Financial liabilities: Securities sold under agreements to repurchase 1,536 — 1,536 1,536 — December 31, 2014 Financial assets: Securities borrowed or purchased under agreements to resell $1,122 $— $1,122 1 $1,112 $10 Financial liabilities: Securities sold under agreements to repurchase 2,276 — 2,276 2,276 — 1 Excludes $55 million and $38 million of Fed funds sold, which are not subject to a master netting agreement at September 30, 2015 and December 31, 2014 , respectively. |
Trading Assets and Liabilities
Trading Assets and Liabilities and Derivatives Trading Assets and Liabilities and Derivatives (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Trading Assets and Liabilities and Derivatives [Text Block] | NOTE 3 - TRADING ASSETS AND LIABILITIES AND DERIVATIVE INSTRUMENTS The fair values of the components of trading assets and liabilities and derivative instruments were as follows: (Dollars in millions) September 30, 2015 December 31, 2014 Trading Assets and Derivative Instruments: U.S. Treasury securities $443 $267 Federal agency securities 532 547 U.S. states and political subdivisions 40 42 MBS - agency 565 545 CLO securities 2 3 Corporate and other debt securities 390 509 CP 312 327 Equity securities 65 45 Derivative instruments 1 1,449 1,307 Trading loans 2 2,739 2,610 Total trading assets and derivative instruments $6,537 $6,202 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $584 $485 MBS - agency 4 1 Corporate and other debt securities 177 279 Derivative instruments 1 565 462 Total trading liabilities and derivative instruments $1,330 $1,227 1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes loans related to TRS . Various trading products and derivative instruments are used as part of the Company ’s overall balance sheet management strategies and to support client requirements executed through the Bank and/or its broker/dealer subsidiary. The Company manages the potential market volatility associated with trading instruments with appropriate risk management strategies. The size, volume, and nature of the trading products and derivative instruments can vary based on economic conditions as well as client-specific and Company -specific asset or liability positions. Product offerings to clients include debt securities, loans traded in the secondary market, equity securities, derivative contracts, and other similar financial instruments. Other trading-related activities include acting as a market maker for certain debt and equity security transactions and derivative instrument transactions. The Company also uses derivatives to manage its interest rate and market risk from non-trading activities. The Company has policies and procedures to manage market risk associated with client trading and non-trading activities, and assumes a limited degree of market risk by managing the size and nature of its exposure. The Company has pledged $857 million and $1.1 billion of trading securities to secure $825 million and $1.1 billion of repurchase agreements at September 30, 2015 and December 31, 2014 , respectively. Additionally, the Company has pledged $298 million and $202 million of trading securities to secure certain derivative agreements at September 30, 2015 and December 31, 2014 , respectively, and has pledged $40 million of trading securities under other arrangements at both September 30, 2015 and December 31, 2014 . |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | NOTE 4 – SECURITIES AVAILABLE FOR SALE Securities Portfolio Composition September 30, 2015 (Dollars in millions) Amortized Unrealized Unrealized Fair U.S. Treasury securities $3,020 $45 $— $3,065 Federal agency securities 408 13 1 420 U.S. states and political subdivisions 167 7 — 174 MBS - agency 22,452 511 58 22,905 MBS - private 100 2 — 102 ABS 13 2 — 15 Corporate and other debt securities 36 2 — 38 Other equity securities 1 551 1 1 551 Total securities AFS $26,747 $583 $60 $27,270 December 31, 2014 (Dollars in millions) Amortized Unrealized Unrealized Fair U.S. Treasury securities $1,913 $9 $1 $1,921 Federal agency securities 471 15 2 484 U.S. states and political subdivisions 200 9 — 209 MBS - agency 22,573 558 83 23,048 MBS - private 122 2 1 123 ABS 19 2 — 21 Corporate and other debt securities 38 3 — 41 Other equity securities 1 921 2 — 923 Total securities AFS $26,257 $600 $87 $26,770 1 At September 30, 2015 , the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $111 million of mutual fund investments, and $6 million of other. At December 31, 2014 , the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million of mutual fund investments, and $7 million of other. The following table presents interest and dividends on securities AFS : Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Taxable interest $143 $142 $397 $421 Tax-exempt interest 2 2 5 8 Dividends 8 9 28 27 Total interest and dividends $153 $153 $430 $456 Securities AFS pledged to secure public deposits, repurchase agreements, trusts, and other funds had a fair value of $2.9 billion and $2.6 billion at September 30, 2015 and December 31, 2014 , respectively. The amortized cost and fair value of investments in debt securities AFS at September 30, 2015 , by estimated average life, are shown below. Receipt of cash flows may differ from estimated average lives and contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Distribution of Maturities (Dollars in millions) 1 Year or Less 1-5 Years 5-10 Years After 10 Years Total Amortized Cost: U.S. Treasury securities $25 $921 $2,074 $— $3,020 Federal agency securities 159 109 14 126 408 U.S. states and political subdivisions 38 13 101 15 167 MBS - agency 2,462 11,098 3,756 5,136 22,452 MBS - private 3 89 8 — 100 ABS — 12 1 — 13 Corporate and other debt securities — 36 — — 36 Total debt securities AFS $2,687 $12,278 $5,954 $5,277 $26,196 Fair Value: U.S. Treasury securities $25 $931 $2,109 $— $3,065 Federal agency securities 163 116 14 127 420 U.S. states and political subdivisions 39 13 106 16 174 MBS - agency 2,605 11,391 3,772 5,137 22,905 MBS - private 3 91 8 — 102 ABS — 13 2 — 15 Corporate and other debt securities — 38 — — 38 Total debt securities AFS $2,835 $12,593 $6,011 $5,280 $26,719 Weighted average yield 1 2.35 % 2.41 % 2.57 % 2.80 % 2.52 % 1 Weighted average yields are based on amortized cost and presented on an FTE basis. Securities AFS in an Unrealized Loss Position The Company held certain investment securities AFS where amortized cost exceeded fair market value, resulting in unrealized loss positions. Market changes in interest rates and credit spreads may result in temporary unrealized losses as the market price of securities fluctuates. At September 30, 2015 , the Company did not intend to sell these securities nor was it more-likely-than-not that the Company would be required to sell these securities before their anticipated recovery or maturity. The Company reviewed its portfolio for OTTI in accordance with the accounting policies described in the Company 's 2014 Annual Report on Form 10-K. The following tables show securities AFS in an unrealized loss position at period end. September 30, 2015 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Unrealized 2 Fair Unrealized 2 Fair Unrealized 2 Temporarily impaired securities AFS: Federal agency securities $33 $— $35 $1 $68 $1 MBS - agency 3,996 35 982 23 4,978 58 ABS — — 9 — 9 — Other equity securities 4 1 — — 4 1 Total temporarily impaired securities AFS 4,033 36 1,026 24 5,059 60 OTTI securities AFS 1 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $4,033 $36 $1,026 $24 $5,059 $60 December 31, 2014 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized Losses 2 Fair Value Unrealized 2 Fair Value Unrealized Losses 2 Temporarily impaired securities AFS: U.S. Treasury securities $150 $1 $— $— $150 $1 Federal agency securities 20 — 132 2 152 2 MBS - agency 2,347 6 4,911 77 7,258 83 ABS — — 14 — 14 — Total temporarily impaired securities AFS 2,517 7 5,057 79 7,574 86 OTTI securities AFS 1 : MBS - private 69 1 — — 69 1 Total OTTI securities AFS 69 1 — — 69 1 Total impaired securities AFS $2,586 $8 $5,057 $79 $7,643 $87 1 Includes OTTI securities AFS for which credit losses have been recorded in earnings in current or prior periods. 2 Unrealized losses less than $0.5 million are presented as zero within the table. At September 30, 2015 , unrealized losses on securities that have been in a temporarily impaired position for longer than twelve months included agency MBS , federal agency securities, and one ABS collateralized by 2004 vintage home equity loans. Unrealized losses on federal agency securities and agency MBS securities at September 30, 2015 were due to market interest rates being higher than the securities' stated yields. The ABS continues to receive timely principal and interest payments, and is evaluated quarterly for credit impairment. Cash flow analysis shows that the underlying collateral can withstand highly stressed loss assumptions without incurring a credit loss. The portion of unrealized losses on OTTI securities that relates to factors other than credit is recorded in AOCI . Any unrealized losses related to credit impairment on these securities are determined through estimated cash flow analyses and are recorded in earnings. Realized Gains and Losses and Other-Than-Temporarily Impaired Securities Net securities gains/(losses) are comprised of gross realized gains, gross realized losses, and OTTI credit losses recognized in earnings. Gross realized gains of $11 million and $25 million were recognized for the three and nine months ended September 30, 2015 , respectively. Gross realized losses of $3 million were recognized for both the three and nine months ended September 30, 2015 , and OTTI losses recognized in earnings were immaterial for both periods. For both the three and nine months ended September 30, 2014 , gross realized gains of $3 million were recognized. Gross realized losses of $12 million and $13 million were recognized for the three and nine months ended September 30, 2014 , respectively, and OTTI losses recognized in earnings were immaterial for the nine months ended September 30, 2014 . Credit impairment that is determined through the use of models is estimated using cash flows on security specific collateral and the transaction structure. Future expected credit losses are determined by using various assumptions, the most significant of which include default rates, prepayment rates, and loss severities. If, based on this analysis, a security is in an unrealized loss position and the Company does not expect to recover the entire amortized cost basis of the security, the expected cash flows are then discounted at the security’s initial effective interest rate to arrive at a present value amount. OTTI credit losses reflect the difference between the present value of cash flows expected to be collected and the amortized cost basis of these securities. The Company continues to reduce existing exposure on OTTI securities primarily through paydowns. In certain instances, the amount of impairment losses recognized in earnings includes credit losses on debt securities that exceeds the total unrealized losses, and as a result, the securities may have unrealized gains in AOCI relating to factors other than credit. During the three and nine months ended September 30, 2015 , credit impairment recognized on securities AFS still held at the end of each period was immaterial , all of which related to one private MBS with a fair value of approximately $22 million at September 30, 2015 . Securities that gave rise to credit impairments recognized during the nine months ended September 30, 2014 , consisted of one private MBS with a fair value of approximately $19 million at September 30, 2014 . The accumulated balance of credit losses recognized in earnings on securities AFS held at period end was $25 million at both September 30, 2015 and 2014 . Subsequent credit losses may be recorded on securities without a corresponding further decline in fair value when there has been a decline in expected cash flows. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans | NOTE 5 - LOANS Composition of Loan Portfolio (Dollars in millions) September 30, December 31, 2014 Commercial loans: C&I $65,371 $65,440 CRE 6,168 6,741 Commercial construction 1,763 1,211 Total commercial loans 73,302 73,392 Residential loans: Residential mortgages - guaranteed 627 632 Residential mortgages - nonguaranteed 1 24,351 23,443 Home equity products 13,416 14,264 Residential construction 394 436 Total residential loans 38,788 38,775 Consumer loans: Guaranteed student 4,588 4,827 Other direct 5,771 4,573 Indirect 10,119 10,644 Credit cards 992 901 Total consumer loans 21,470 20,945 LHFI $133,560 $133,112 LHFS 2 $2,032 $3,232 1 Includes $262 million and $272 million of LHFI measured at fair value at September 30, 2015 and December 31, 2014 , respectively. 2 Includes $1.9 billion of LHFS measured at fair value at both September 30, 2015 and December 31, 2014 . During the three months ended September 30, 2015 and 2014 , the Company transferred $38 million and $362 million in LHFI to LHFS , and $75 million and $19 million in LHFS to LHFI , respectively. Additionally, during the three months ended September 30, 2015 and 2014 , the Company sold $178 million and $2.3 billion in loans and leases for gains of $9 million and $40 million , respectively. During the nine months ended September 30, 2015 and 2014 , the Company transferred $1.7 billion and $3.2 billion in LHFI to LHFS , and $726 million and $39 million in LHFS to LHFI , respectively. Additionally, during the nine months ended September 30, 2015 and 2014 , the Company sold $2.0 billion and $3.0 billion in loans and leases for gains of $22 million and $71 million , respectively. At September 30, 2015 and December 31, 2014 , the Company had $23.3 billion and $26.5 billion of net eligible loan collateral pledged to the Federal Reserve discount window to support $17.0 billion and $18.4 billion of available, unused borrowing capacity, respectively. At September 30, 2015 and December 31, 2014 , the Company had $32.0 billion and $31.2 billion of net eligible loan collateral pledged to the FHLB of Atlanta to support $26.2 billion and $24.3 billion of available borrowing capacity, respectively. The available FHLB borrowing capacity at September 30, 2015 was used to support $408 million of long-term debt and $6.2 billion of letters of credit issued on the Company 's behalf. At December 31, 2014 , the available FHLB borrowing capacity was used to support $4.0 billion of long-term debt, $4.0 billion of short-term debt, and $7.9 billion of letters of credit issued on the Company 's behalf. Credit Quality Evaluation The Company evaluates the credit quality of its loan portfolio by employing a dual internal risk rating system, which assigns both PD and LGD ratings to derive expected losses. Assignment of PD and LGD ratings are predicated upon numerous factors, including consumer credit risk scores, rating agency information, borrower/guarantor financial capacity, LTV ratios, collateral type, debt service coverage ratios, collection experience, other internal metrics/analyses, and/or qualitative assessments. For the commercial portfolio, the Company believes that the most appropriate credit quality indicator is an individual loan’s risk assessment expressed according to the broad regulatory agency classifications of Pass or Criticized. The Company 's risk rating system is granular, with multiple risk ratings in both the Pass and Criticized categories. Pass ratings reflect relatively low PD s, whereas, Criticized assets have higher PD s. The granularity in Pass ratings assists in the establishment of pricing, loan structures, approval requirements, reserves, and ongoing credit management requirements. The Company conforms to the following regulatory classifications for Criticized assets: Other Assets Especially Mentioned (or Special Mention), Adversely Classified, Doubtful, and Loss. However, for the purposes of disclosure, management believes the most meaningful distinction within the Criticized categories is between Accruing Criticized (which includes Special Mention and a portion of Adversely Classified) and Nonaccruing Criticized (which includes a portion of Adversely Classified and Doubtful and Loss). This distinction identifies those relatively higher risk loans for which there is a basis to believe that the Company will collect all amounts due from those where full collection is less certain. Commercial risk ratings are refreshed at least annually, or more frequently as appropriate, based upon considerations such as market conditions, borrower characteristics, and portfolio trends. Additionally, management routinely reviews portfolio risk ratings, trends, and concentrations to support risk identification and mitigation activities. The increase in criticized accruing C&I loans at September 30, 2015 compared to December 31, 2014 , as presented in the following risk rating table, was due to loans primarily in the energy industry vertical that were downgraded to substandard during the first nine months of 2015. For consumer and residential loans, the Company monitors credit risk based on indicators such as delinquencies and FICO scores. The Company believes that consumer credit risk, as assessed by the industry-wide FICO scoring method, is a relevant credit quality indicator. Borrower-specific FICO scores are obtained at origination as part of the Company ’s formal underwriting process, and refreshed FICO scores are obtained by the Company at least quarterly. For government-guaranteed loans, the Company monitors the credit quality based primarily on delinquency status, as it is a more relevant indicator of credit quality due to the government guarantee. At September 30, 2015 and December 31, 2014 , 32% and 28% , respectively, of the guaranteed residential loan portfolio was current with respect to payments. At September 30, 2015 and December 31, 2014 , 81% and 79% , respectively, of the guaranteed student loan portfolio was current with respect to payments. The Company 's loss exposure on guaranteed residential and student loans is mitigated by the government guarantee. LHFI by credit quality indicator are shown in the tables below: Commercial Loans C&I CRE Commercial Construction (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Risk rating: Pass $63,826 $64,228 $6,033 $6,586 $1,739 $1,196 Criticized accruing 1,423 1,061 120 134 23 14 Criticized nonaccruing 122 151 15 21 1 1 Total $65,371 $65,440 $6,168 $6,741 $1,763 $1,211 Residential Loans 1 Residential Mortgages - Nonguaranteed Home Equity Products Residential Construction (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Current FICO score range: 700 and above $19,936 $18,780 $10,897 $11,475 $321 $347 620 - 699 3,330 3,369 1,827 1,991 59 70 Below 620 2 1,085 1,294 692 798 14 19 Total $24,351 $23,443 $13,416 $14,264 $394 $436 Consumer Loans 3 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Current FICO score range: 700 and above $5,180 $4,023 $7,053 $7,661 $690 $639 620 - 699 536 476 2,426 2,335 245 212 Below 620 2 55 74 640 648 57 50 Total $5,771 $4,573 $10,119 $10,644 $992 $901 1 Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014 , respectively. 2 For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. 3 Excludes $4.6 billion and $4.8 billion of guaranteed student loans at September 30, 2015 and December 31, 2014 , respectively. The payment status for the LHFI portfolio is shown in the tables below: September 30, 2015 (Dollars in millions) Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing 2 Total Commercial loans: C&I $65,148 $89 $12 $122 $65,371 CRE 6,150 2 1 15 6,168 Commercial construction 1,762 — — 1 1,763 Total commercial loans 73,060 91 13 138 73,302 Residential loans: Residential mortgages - guaranteed 200 51 376 — 627 Residential mortgages - nonguaranteed 1 24,081 105 9 156 24,351 Home equity products 13,189 81 — 146 13,416 Residential construction 375 3 — 16 394 Total residential loans 37,845 240 385 318 38,788 Consumer loans: Guaranteed student 3,724 367 497 — 4,588 Other direct 5,742 22 3 4 5,771 Indirect 10,032 83 1 3 10,119 Credit cards 978 8 6 — 992 Total consumer loans 20,476 480 507 7 21,470 Total LHFI $131,381 $811 $905 $463 $133,560 1 Includes $262 million of loans measured at fair value, the majority of which were accruing current. 2 Nonaccruing loans past due 90 days or more totaled $278 million . Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDR s and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. December 31, 2014 (Dollars in millions) Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing 2 Total Commercial loans: C&I $65,246 $36 $7 $151 $65,440 CRE 6,716 3 1 21 6,741 Commercial construction 1,209 1 — 1 1,211 Total commercial loans 73,171 40 8 173 73,392 Residential loans: Residential mortgages - guaranteed 176 34 422 — 632 Residential mortgages - nonguaranteed 1 23,067 108 14 254 23,443 Home equity products 13,989 101 — 174 14,264 Residential construction 402 7 — 27 436 Total residential loans 37,634 250 436 455 38,775 Consumer loans: Guaranteed student 3,801 425 601 — 4,827 Other direct 4,545 19 3 6 4,573 Indirect 10,537 104 3 — 10,644 Credit cards 887 8 6 — 901 Total consumer loans 19,770 556 613 6 20,945 Total LHFI $130,575 $846 $1,057 $634 $133,112 1 Includes $272 million of loans measured at fair value, the majority of which were accruing current. 2 Nonaccruing loans past due 90 days or more totaled $388 million . Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDR s and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. Impaired Loans A loan is considered impaired when it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the agreement. Commercial nonaccrual loans greater than $3 million and certain commercial, residential, and consumer loans whose terms have been modified in a TDR are individually evaluated for impairment. Smaller-balance homogeneous loans that are collectively evaluated for impairment are not included in the following tables. Additionally, the tables below exclude guaranteed student loans and guaranteed residential mortgages for which there was nominal risk of principal loss. September 30, 2015 December 31, 2014 (Dollars in millions) Unpaid Principal Balance Amortized Cost 1 Related Allowance Unpaid Principal Balance Amortized Cost 1 Related Allowance Impaired loans with no related allowance recorded: Commercial loans: C&I $59 $49 $— $70 $51 $— CRE 11 9 — 12 11 — Total commercial loans 70 58 — 82 62 — Residential loans: Residential mortgages - nonguaranteed 431 326 — 592 425 — Residential construction 24 9 — 31 9 — Total residential loans 455 335 — 623 434 — Impaired loans with an allowance recorded: Commercial loans: C&I 14 12 7 27 26 7 CRE — — — 4 4 4 Total commercial loans 14 12 7 31 30 11 Residential loans: Residential mortgages - nonguaranteed 1,451 1,395 181 1,381 1,354 215 Home equity products 709 637 60 703 630 66 Residential construction 128 124 14 145 145 19 Total residential loans 2,288 2,156 255 2,229 2,129 300 Consumer loans: Other direct 11 11 1 13 13 1 Indirect 113 112 5 105 105 5 Credit cards 24 6 1 25 8 2 Total consumer loans 148 129 7 143 126 8 Total impaired loans $2,975 $2,690 $269 $3,108 $2,781 $319 1 Amortized cost reflects charge-offs that have been recognized plus other amounts that have been applied to reduce the net book balance. Included in the impaired loan balances above at both September 30, 2015 and December 31, 2014 were $2.5 billion of accruing TDR s at amortized cost, of which 97% and 96% were current, respectively. See Note 1 , “Significant Accounting Policies,” to the Company's 2014 Annual Report on Form 10-K for further information regarding the Company ’s loan impairment policy. Three Months Ended September 30 Nine Months Ended September 30 2015 2014 2015 2014 (Dollars in millions) Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Impaired loans with no related allowance recorded: Commercial loans: C&I $51 $— $65 $— $53 $1 $68 $1 CRE 9 — 15 — 10 — 16 — Total commercial loans 60 — 80 — 63 1 84 1 Residential loans: Residential mortgages - nonguaranteed 330 4 454 5 335 11 467 14 Residential construction 9 — 14 — 11 — 15 — Total residential loans 339 4 468 5 346 11 482 14 Impaired loans with an allowance recorded: Commercial loans: C&I 20 — 45 — 23 1 46 1 CRE — — 10 — — — 9 — Total commercial loans 20 — 55 — 23 1 55 1 Residential loans: Residential mortgages - nonguaranteed 1,393 17 1,467 18 1,396 52 1,443 59 Home equity products 640 7 668 7 646 21 662 20 Residential construction 124 2 164 2 125 6 162 6 Total residential loans 2,157 26 2,299 27 2,167 79 2,267 85 Consumer loans: Other direct 12 — 14 — 12 — 14 — Indirect 114 1 116 1 119 4 110 4 Credit cards 6 — 10 — 7 — 11 1 Total consumer loans 132 1 140 1 138 4 135 5 Total impaired loans $2,708 $31 $3,042 $33 $2,737 $96 $3,023 $106 1 Of the interest income recognized during the three and nine months ended September 30, 2015 , cash basis interest income was $1 million and $3 million , respectively. Of the interest income recognized during the three and nine months ended September 30, 2014 , cash basis interest income was less than $1 million and $2 million , respectively. NPA s are shown in the following table: (Dollars in millions) September 30, 2015 December 31, 2014 Nonaccrual/NPLs: Commercial loans: C&I $122 $151 CRE 15 21 Commercial construction 1 1 Residential loans: Residential mortgages - nonguaranteed 156 254 Home equity products 146 174 Residential construction 16 27 Consumer loans: Other direct 4 6 Indirect 3 — Total nonaccrual/NPLs 1 463 634 OREO 2 62 99 Other repossessed assets 7 9 Nonperforming LHFS — 38 Total NPAs $532 $780 1 Nonaccruing restructured loans are included in total nonaccrual / NPL s. 2 Does not include foreclosed real estate related to loans insured by the FHA or the VA . Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $50 million and $57 million at September 30, 2015 and December 31, 2014 , respectively. The Company 's recorded investment of nonaccruing loans secured by residential real estate properties for which formal foreclosure proceedings are in process at September 30, 2015 and December 31, 2014 was $99 million and $152 million , respectively, included in NPL s in the table above. The Company 's recorded investment of accruing loans secured by residential real estate properties for which formal foreclosure proceedings are in process at September 30, 2015 and December 31, 2014 was $169 million and $194 million , of which $158 million and $179 million were insured by the FHA or the VA , respectively. At September 30, 2015 and December 31, 2014 , OREO was comprised of $50 million and $75 million of foreclosed residential real estate properties and $8 million and $16 million of foreclosed commercial real estate properties, respectively, with the remainder related to land and other properties. Restructured Loans A TDR is a loan for which the Company has granted an economic concession to the borrower, in response to certain instances of financial difficulty experienced by the borrower that the Company would not have otherwise considered. When a loan is modified under the terms of a TDR , the Company typically offers the borrower an extension of the loan maturity date and/or a reduction in the original contractual interest rate. In certain situations, the Company may offer to restructure a loan in a manner that ultimately results in the forgiveness of a contractually specified principal balance. At both September 30, 2015 and December 31, 2014 , the Company had an immaterial amount of commitments to lend additional funds to debtors whose terms have been modified in a TDR . The number and amortized cost of loans modified under the terms of a TDR by type of modification are shown in the following tables. Three Months Ended September 30, 2015 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 18 $— $— $— $— Residential loans: Residential mortgages - nonguaranteed 175 3 32 10 45 Home equity products 419 — 7 21 28 Residential construction 6 — — — — Consumer loans: Other direct 10 — — — — Indirect 611 — — 13 13 Credit cards 157 — 1 — 1 Total TDRs 1,396 $3 $40 $44 $87 Nine Months Ended September 30, 2015 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 63 $— $1 $5 $6 CRE 1 — — — — Residential loans: Residential mortgages - nonguaranteed 632 10 95 20 125 Home equity products 1,386 — 20 62 82 Residential construction 17 — — — — Consumer loans: Other direct 47 — — 1 1 Indirect 1,999 — — 39 39 Credit cards 529 — 2 — 2 Total TDRs 4,674 $10 $118 $127 $255 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2015 was immaterial. Three Months Ended September 30, 2014 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 23 $— $— $8 $8 Residential loans: Residential mortgages - nonguaranteed 266 2 26 8 36 Home equity products 503 — 1 22 23 Residential construction 1 — — — — Consumer loans: Other direct 21 — — — — Indirect 638 — — 12 12 Credit cards 123 — 1 — 1 Total TDRs 1,575 $2 $28 $50 $80 Nine Months Ended September 30, 2014 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 66 $— $— $22 $22 CRE 4 3 — 3 6 Residential loans: Residential mortgages - nonguaranteed 944 8 105 38 151 Home equity products 1,407 — 6 59 65 Residential construction 11 — 1 — 1 Consumer loans: Other direct 59 — — 1 1 Indirect 2,189 — — 43 43 Credit cards 350 — 2 — 2 Total TDRs 5,030 $11 $114 $166 $291 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2014 was immaterial. For the three and nine months ended September 30, 2015 , the table below represents defaults on loans that were first modified between the periods January 1, 2014 and September 30, 2015 that became 90 days or more delinquent or were charged-off during the period. Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Number of Loans Amortized Cost Number of Loans Amortized Cost Commercial loans: C&I 13 $— 25 $1 Residential loans: Residential mortgages 25 3 80 12 Home equity products 33 2 95 4 Consumer loans: Other direct 2 — 3 — Indirect 47 — 118 1 Credit cards 22 — 45 — Total TDRs 142 $5 366 $18 For the three and nine months ended September 30, 2014 , the table below represents defaults on loans that were first modified between the periods January 1, 2013 and September 30, 2014 that became 90 days or more delinquent or were charged-off during the period. Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Number of Loans Amortized Cost Number of Loans Amortized Cost Commercial loans: C&I 30 $3 77 $8 Residential loans: Residential mortgages 46 6 135 16 Home equity products 28 1 75 4 Residential construction — — 6 — Consumer loans: Other direct 3 — 8 — Indirect 45 — 134 1 Credit cards 60 — 143 1 Total TDRs 212 $10 578 $30 The majority of loans that were modified and subsequently became 90 days or more delinquent have remained on nonaccrual status since the time of modification. Concentrations of Credit Risk The Company does not have a significant concentration of risk to any individual client except for the U.S. government and its agencies. However, a geographic concentration arises because the Company operates primarily in the Southeastern and Mid-Atlantic regions of the U.S. The Company engages in limited international banking activities. The Company ’s total cross-border outstanding loans were $1.4 billion and $1.3 billion at September 30, 2015 and December 31, 2014 , respectively. With respect to collateral concentration, at September 30, 2015 , the Company owned $38.8 billion in loans secured by residential real estate, representing 29% of total LHFI . Additionally, the Company had $10.6 billion in commitments to extend credit on home equity lines and $4.0 billion in mortgage loan commitments at September 30, 2015 . At December 31, 2014 , the Company owned $38.8 billion in loans secured by residential real estate, representing 29% of total LHFI , and had $10.9 billion in commitments to extend credit on home equity lines and $3.3 billion in mortgage loan commitments. At both September 30, 2015 and December 31, 2014 , 2% of residential loans owned were guaranteed by a federal agency or a GSE . The following table presents loans in the residential mortgage portfolio that included a high original LTV ratio (in excess of 80%), an interest only feature, and/or a second lien position that may increase the Company ’s exposure to credit risk and result in a concentration of credit risk. At September 30, 2015 and December 31, 2014 , borrowers' current weighted average FICO score on these loans was 744 and 738 , respectively. (Dollars in millions) September 30, 2015 December 31, 2014 Interest only mortgages with MI or with combined original LTV ≤ 80% 1 $1,892 $3,180 Interest only mortgages with no MI and with combined original LTV > 80% 1 620 873 Total interest only mortgages 1 2,512 4,053 Amortizing mortgages with combined original LTV > 80% and/or second liens 2 8,154 7,368 Total mortgages with potential concentration of credit risk $10,666 $11,421 1 Comprised of first and/or second liens, primarily with an initial 10 year interest only period. 2 Comprised of loans with no MI . |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses | NOTE 6 - ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses consists of the ALLL and the unfunded commitments reserve. Activity in the allowance for credit losses is summarized in the following table: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Balance, beginning of period $1,886 $2,046 $1,991 $2,094 Provision for loan losses 23 93 107 275 Provision/(benefit) for unfunded commitments 9 — 7 (7 ) Loan charge-offs (102 ) (164 ) (356 ) (473 ) Loan recoveries 31 36 98 122 Balance, end of period $1,847 $2,011 $1,847 $2,011 Components: ALLL $1,786 $1,968 Unfunded commitments reserve 1 61 43 Allowance for credit losses $1,847 $2,011 1 The unfunded commitments reserve is recorded in other liabilities in the Consolidated Balance Sheets. Activity in the ALLL by loan segment for the three and nine months ended September 30, 2015 and 2014 is presented in the following tables: Three Months Ended September 30, 2015 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $993 $676 $165 $1,834 Provision/(benefit) for loan losses 33 (39 ) 29 23 Loan charge-offs (23 ) (47 ) (32 ) (102 ) Loan recoveries 10 11 10 31 Balance, end of period $1,013 $601 $172 $1,786 Three Months Ended September 30, 2014 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $958 $875 $170 $2,003 Provision for loan losses 25 34 34 93 Loan charge-offs (26 ) (104 ) (34 ) (164 ) Loan recoveries 14 12 10 36 Balance, end of period $971 $817 $180 $1,968 Nine Months Ended September 30, 2015 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $986 $777 $174 $1,937 Provision/(benefit) for loan losses 74 (30 ) 63 107 Loan charge-offs (82 ) (177 ) (97 ) (356 ) Loan recoveries 35 31 32 98 Balance, end of period $1,013 $601 $172 $1,786 Nine Months Ended September 30, 2014 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $946 $930 $168 $2,044 Provision for loan losses 82 114 79 275 Loan charge-offs (97 ) (279 ) (97 ) (473 ) Loan recoveries 40 52 30 122 Balance, end of period $971 $817 $180 $1,968 As discussed in Note 1 , “Significant Accounting Policies,” to the Company 's 2014 Annual Report on Form 10-K, the ALLL is composed of both specific allowances for certain nonaccrual loans and TDR s and general allowances grouped into loan pools based on similar characteristics. No allowance is required for loans measured at fair value. Additionally, the Company records an immaterial allowance for loan products that are guaranteed by government agencies, as there is nominal risk of principal loss. The Company ’s LHFI portfolio and related ALLL is presented in the following tables. September 30, 2015 Commercial Residential Consumer Total (Dollars in millions) Carrying Value Associated ALLL Carrying Value Associated ALLL Carrying Value Associated ALLL Carrying Value Associated ALLL Individually evaluated $70 $7 $2,491 $255 $129 $7 $2,690 $269 Collectively evaluated 73,232 1,006 36,035 346 21,341 165 130,608 1,517 Total evaluated 73,302 1,013 38,526 601 21,470 172 133,298 1,786 LHFI at fair value — — 262 — — — 262 — Total LHFI $73,302 $1,013 $38,788 $601 $21,470 $172 $133,560 $1,786 December 31, 2014 Commercial Residential Consumer Total (Dollars in millions) Carrying Associated Carrying Associated Carrying Associated Carrying Associated Individually evaluated $92 $11 $2,563 $300 $126 $8 $2,781 $319 Collectively evaluated 73,300 975 35,940 477 20,819 166 130,059 1,618 Total evaluated 73,392 986 38,503 777 20,945 174 132,840 1,937 LHFI at fair value — — 272 — — — 272 — Total LHFI $73,392 $986 $38,775 $777 $20,945 $174 $133,112 $1,937 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | NOTE 7 – GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The Company conducts a goodwill impairment test at the reporting unit level at least annually, or more frequently as events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. In the third quarter of 2015, the Company performed a quantitative assessment of its goodwill and concluded that the fair values of its reporting units exceeded their respective carrying values. Additionally, in the third quarter of 2015, the Company elected to prospectively change the date of its annual goodwill impairment test from September 30 to October 1 to better align the timing of the test with the availability of key inputs. See Note 1 , "Significant Accounting Policies" to the Company 's 2014 Annual Report on Form 10-K for additional information regarding the Company 's goodwill accounting policy. There were no changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30 , 2015 . Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30 , 2014 are as follows: (Dollars in millions) Consumer Banking and Private Wealth Management Wholesale Banking Total Balance, January 1, 2014 $4,262 $2,107 $6,369 Acquisition of Lantana Oil and Gas Partners, Inc. — 8 8 Sale of RidgeWorth — (40 ) (40 ) Balance, September 30, 2014 $4,262 $2,075 $6,337 Other Intangible Assets Changes in the carrying amounts of other intangible assets for the nine months ended September 30 are as follows: (Dollars in millions) MSRs - Other Total Balance, January 1, 2015 $1,206 $13 $1,219 Amortization 1 — (6 ) (6 ) Servicing rights originated 185 13 198 Servicing rights purchased 109 — 109 Changes in fair value: Due to changes in inputs and assumptions 2 (74 ) — (74 ) Other changes in fair value 3 (161 ) — (161 ) Servicing rights sold (3 ) — (3 ) Balance, September 30, 2015 $1,262 $20 $1,282 Balance, January 1, 2014 $1,300 $34 $1,334 Amortization 1 — (10 ) (10 ) Servicing rights originated 137 — 137 Servicing rights purchased 109 — 109 Changes in fair value: Due to changes in inputs and assumptions 2 (117 ) — (117 ) Other changes in fair value 3 (123 ) — (123 ) Servicing rights sold (1 ) — (1 ) Sale of RidgeWorth — (9 ) (9 ) Balance, September 30, 2014 $1,305 $15 $1,320 1 Does not include amortization of tax credits for non-qualified community development investments. See Note 8 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. 2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. 3 Represents changes due to the collection of expected cash flows, net of accretion, due to the passage of time. The Company 's estimated future amortization of intangible assets subject to amortization was immaterial at September 30, 2015 . Servicing Rights The Company retains servicing rights for certain of its sales or securitizations of residential mortgage and consumer indirect loans. MSR s on residential mortgage loans and servicing rights on consumer indirect loans are the only servicing assets capitalized by the Company and are classified within other intangible assets on the Company 's Consolidated Balance Sheets. Mortgage Servicing Rights Income earned by the Company on its MSR s is derived primarily from contractually specified mortgage servicing fees and late fees, net of curtailment costs. Such income earned for the three and nine months ended September 30, 2015 was $89 million and $254 million , respectively, and $81 million and $241 million for the three and nine months ended September 30, 2014 , respectively. These amounts are reported in mortgage servicing related income in the Consolidated Statements of Income. At September 30, 2015 and December 31, 2014 , the total UPB of mortgage loans serviced was $149.2 billion and $142.1 billion , respectively. Included in these amounts were $122.0 billion and $115.5 billion at September 30, 2015 and December 31, 2014 , respectively, of loans serviced for third parties. The Company purchased MSR s on residential loans with a UPB of $10.3 billion during the nine months ended September 30, 2015 , all of which are reflected in the UPB amounts above. The Company purchased MSR s on residential loans with a UPB of $9.0 billion during the nine months ended September 30, 2014 . During the nine months ended September 30, 2015 and 2014 , the Company sold MSR s on residential loans, at a price approximating their fair value, with a UPB of $590 million and $612 million , respectively. The Company calculates the fair value of MSR s using a valuation model that calculates the present value of estimated future net servicing income using prepayment projections, spreads, and other assumptions. Senior management and the STM Valuation Committee review all significant assumptions at least quarterly, comparing these inputs to various sources of market data. Changes to valuation model inputs are reflected in the periods' results. See Note 14 , “Fair Value Election and Measurement,” for further information regarding the Company's MSR valuation methodology. A summary of the key inputs used to estimate the fair value of the Company ’s MSR s at September 30, 2015 and December 31, 2014 , and the sensitivity of the fair values to immediate 10% and 20% adverse changes in those inputs, are presented in the following table. (Dollars in millions) September 30, 2015 December 31, 2014 Fair value of MSRs $1,262 $1,206 Prepayment rate assumption (annual) 11 % 11 % Decline in fair value from 10% adverse change $51 $46 Decline in fair value from 20% adverse change 98 88 Option adjusted spread (annual) 8 % 10 % Decline in fair value from 10% adverse change $55 $55 Decline in fair value from 20% adverse change 105 105 Weighted-average life (in years) 6.4 6.4 Weighted-average coupon 4.1 % 4.2 % These MSR sensitivities are hypothetical and should be used with caution. Changes in fair value based on variations in assumptions generally cannot be extrapolated because (i) the relationship of the change in an assumption to the change in fair value may not be linear and (ii) changes in one assumption may result in changes in another, which might magnify or counteract the sensitivities. The sensitivities do not reflect the effect of hedging activity undertaken by the Company to offset changes in the fair value of MSR s. See Note 13 , “Derivative Financial Instruments,” for further information regarding these hedging activities. Consumer Loan Servicing Rights In June 2015, the Company completed the securitization of $1.0 billion of indirect auto loans, with servicing rights retained, and recognized a $13 million servicing asset at the time of sale. See Note 8 , “Certain Transfers of Financial Assets and Variable Interest Entities," for additional information on the Company 's securitization transactions. Income earned by the Company on its consumer loan servicing rights is derived primarily from contractually specified servicing fees and other ancillary fees. Such income earned for the three and nine months ended September 30, 2015 was $2 million and $3 million , respectively, and is reported in other noninterest income in the Consolidated Statements of Income. There was no income earned on consumer loan servicing rights for the three and nine months ended September 30, 2014 . At September 30, 2015 , the total UPB of consumer indirect loans serviced was $889 million , all of which were serviced for third parties. No consumer loan servicing rights were purchased or sold during the nine months ended September 30 , 2015 and 2014 . Consumer loan servicing rights are accounted for at amortized cost and are monitored for impairment on an ongoing basis. The Company calculates the fair value of consumer servicing rights using a valuation model that calculates the present value of estimated future net servicing income using prepayment projections and other assumptions. Impairment, if any, is recognized when changes in valuation model inputs reflect a fair value for the servicing asset that is below its respective carrying value. At September 30, 2015 , both the amortized cost and the fair value of the Company 's consumer loan servicing rights were $11 million . |
Certain Transfers of Financial
Certain Transfers of Financial Assets and Variable Interest Entities | 9 Months Ended |
Sep. 30, 2015 | |
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 8 - CERTAIN TRANSFERS OF FINANCIAL ASSETS AND VARIABLE INTEREST ENTITIES Certain Transfers of Financial Assets and Related Variable Interest Entities The Company has transferred loans and securities in sale or securitization transactions in which the Company has, or had, continuing involvement such as owning certain beneficial interests and servicing rights. Cash receipts on interests held related to these transfers were $6 million and $14 million for the three and nine months ended September 30, 2015 , and $2 million and $14 million for the three and nine months ended September 30, 2014 , respectively. The servicing and management fees related to these asset transfers (excluding servicing fees for residential mortgage loan transfers to GSE s, which are discussed in Note 7 , “Goodwill and Other Intangible Assets”) were immaterial for the three and nine months ended September 30, 2015 and 2014 . Except as specifically noted herein, the Company is not required to provide additional financial support to any of the entities to which the Company has transferred financial assets, nor has the Company provided any support it was not otherwise obligated to provide. When a transfer or other transaction occurs with a VIE , the Company first determines whether it has a VI in the VIE . A VI is typically in the form of securities representing retained interests in transferred assets and, at times, servicing rights and collateral manager fees. If the Company has a VI in an entity, it then evaluates whether or not it has both (1) the power to direct the activities that most significantly impact the economic performance of the VIE , and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE to determine if the Company should consolidate the VIE . If the entity is not consolidated, then an evaluation of whether the transfer is a sale or a secured borrowing is necessary. To determine whether a transfer should be accounted for as a sale, the Company evaluates whether: (i) the transferred assets are legally isolated, (ii) the transferee has the right to pledge or exchange the transferred assets, and (iii) the Company has relinquished effective control of the transferred assets. If these three conditions are met, then the transfer is accounted for as a sale. No events occurred during the nine months ended September 30, 2015 that changed the Company ’s previous conclusions regarding whether it is the primary beneficiary of the VIE s described herein. Likewise, no events occurred during the nine months ended September 30, 2015 that changed the Company ’s sale accounting conclusion in regards to previously transferred residential mortgage loans, indirect auto loans, student loans, or commercial and corporate loans. Below is a summary of transfers of financial assets to VIE s for which the Company has retained some level of continuing involvement, which supplements Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," to the Consolidated Financial Statements in the Company 's 2014 Annual Report on Form 10-K. Residential Mortgage Loans The Company typically transfers first lien residential mortgage loans in conjunction with Ginnie Mae , Fannie Mae , and Freddie Mac securitization transactions, whereby the loans are exchanged for cash or securities that are readily redeemable for cash and servicing rights are retained. The Company sold residential mortgage loans to the GSE s noted above, which resulted in pre-tax net gains of $48 million and $50 million for the three months ended September 30, 2015 and 2014 , respectively, and $171 million and $155 million for the nine months ended September 30, 2015 and 2014 , respectively. Net gains on the sale of residential mortgage loans are recorded at inception of the associated IRLC s within mortgage production related income in the Consolidated Statements of Income. The net gains reflect the change in value of the loans resulting from changes in interest rates from the time the Company enters into the related IRLC s with borrowers, but do not include the results of hedging activities initiated by the Company to mitigate this market risk. See Note 13 , “Derivative Financial Instruments,” for further discussion of the Company ’s hedging activities. As the seller, the Company has made certain representations and warranties with respect to the originally transferred loans, including those transferred under Ginnie Mae , Fannie Mae , and Freddie Mac programs; these representations and warranties are discussed in Note 12 , “Guarantees.” In a limited number of securitizations, the Company has received securities in addition to cash (while also retaining servicing rights) in exchange for the transferred loans. The securities received are measured at fair value and classified as securities AFS . At September 30, 2015 and December 31, 2014 , the fair value of securities received totaled $43 million and $55 million , respectively. The Company evaluated its securitization entities, which were deemed VIE s, for potential consolidation. Notwithstanding the Company 's role as servicer, the Company typically does not have power over the securitization entities as a result of rights held by the master servicer. However, in certain transactions, the Company does have power as the servicer, but does not have an obligation to absorb losses or the right to receive benefits that could potentially be significant. In all such cases, the Company does not consolidate the securitization entity. Total assets at September 30, 2015 and December 31, 2014 , of the unconsolidated trusts in which the Company has a VI were $251 million and $288 million , respectively. The Company ’s maximum exposure to loss related to the unconsolidated residential mortgage loan VIE s in which it holds a VI is comprised of the loss of value of any interests it retains, and any repurchase obligations it incurs as a result of a breach of representations and warranties, discussed further in Note 12 , “Guarantees.” Commercial and Corporate Loans The Company holds securities issued by CLO entities that own commercial leveraged loans and bonds, certain of which were transferred to the entities by the Company . These entities had estimated assets of $584 million and $704 million and estimated liabilities of $541 million and $654 million at September 30, 2015 and December 31, 2014 , respectively. The Company 's holdings include a preference share exposure valued at $2 million and $3 million at September 30, 2015 and December 31, 2014 , respectively, and a senior interest exposure valued at $11 million and $18 million at September 30, 2015 and December 31, 2014 , respectively. The Company has determined that the CLO entities are VIE s and that it is not the primary beneficiary of these entities because it does not possess the power to direct the activities that most significantly impact the economic performance of the entities. Consumer Loans Guaranteed Student Loans During 2006, the Company securitized government-guaranteed student loans through a transfer of loans to a securitization entity and retained the residual interest in the entity. The Company concluded that this entity should be consolidated since it has the power to direct the activities that most significantly impact the economic performance of the VIE , and has the obligation to absorb losses and the right to receive benefits that could potentially be significant. At September 30, 2015 and December 31, 2014 , the Company ’s Consolidated Balance Sheets reflected $273 million and $306 million , respectively, of assets held by the securitization entity and $270 million and $302 million , respectively, of debt issued by the entity. To the extent that the securitization entity incurs losses on its assets, the securitization entity has recourse to the guarantor of the underlying loan, which is backed by the Department of Education up to a maximum guarantee of 100% . Losses in excess of the government guarantee reduce the amount of available cash payable to the Company as the owner of the residual interest. To the extent that losses result from a breach of servicing responsibilities, the securitization entity has recourse to the Company , which functions as the master servicer; the Company may be required to repurchase the defaulting loan(s) from the securitization entity at par value. If the breach was caused by the subservicer, the Company would seek reimbursement from the subservicer up to the guaranteed amount. The Company ’s maximum exposure to loss related to the securitization entity would arise from a breach of its servicing responsibilities. To date, loss claims filed with the guarantor that have been denied due to servicing errors have either been, or are in the process of being cured, or reimbursement has been provided to the Company by the subservicer or in very limited cases, absorbed by the Company . Indirect Auto Loans In June 2015, the Company transferred indirect auto loans to a securitization entity and accounted for the transfer as a sale. The Company retained servicing rights for the transferred loans, but did not retain any debt or equity interest in the securitization entity, which was determined to be a VIE . Although the Company has the power to direct the activities that most significantly impact the economic performance of the VIE through its servicing rights, it was determined that this entity should not be consolidated since the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE . At the time of the transfer, the UPB of the transferred loans was $1.0 billion and the consideration received was $1.0 billion , resulting in an immaterial pre-tax loss for the nine months ended September 30, 2015, recorded within other noninterest income in the Consolidated Statements of Income. Additional details regarding the servicing asset recognized in this transaction can be found in Note 7 , "Goodwill and Other Intangible Assets." To the extent that any losses on the transferred loans are the result of a breach of representations and warranties related to either the initial transfer or the Company 's ongoing servicing responsibilities, the securitization entity has recourse to the Company whereby the Company may be obligated to either cure the breach or repurchase the affected loans. The Company ’s maximum exposure to loss related to the loans transferred to the securitization entity would arise from a breach of representations and warranties and/or a breach of the Company 's servicing obligations, and any resulting potential losses suffered by the securitization entity that the Company may be liable for, the amount of which would be limited to the initial UPB of transferred loans and the carrying value of the related servicing asset. The Company 's managed loans, including portfolio loans as well as securitized loans, are presented in the following table by portfolio balance and delinquency (accruing loans 90 days or more past due and all nonaccrual loans) at September 30, 2015 and December 31, 2014 , as well as related net charge-offs for the three and nine months ended September 30, 2015 and 2014 . Portfolio Balance 1 Past Due and Nonaccrual 2 Net Charge-offs September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Portfolio LHFI by type: Commercial $73,302 $73,392 $151 $181 $13 $12 $47 $57 Residential 38,788 38,775 703 891 36 92 146 227 Consumer 21,470 20,945 514 619 22 24 65 67 Total portfolio LHFI 133,560 133,112 1,368 1,691 71 128 258 351 Managed securitized loans by type: Residential 117,774 110,591 135 3 183 3 4 6 10 13 Consumer 889 — 1 — 1 — 1 — Total managed securitized loans 118,663 110,591 136 183 5 6 11 13 Managed unsecuritized loans 4,238 4,943 587 705 — — — — Total managed loans $256,461 $248,646 $2,091 $2,579 $76 $134 $269 $364 1 Excludes $2.0 billion and $3.2 billion of LHFS at September 30, 2015 and December 31, 2014 , respectively. 2 Excludes $1 million and $39 million of past due LHFS at September 30, 2015 and December 31, 2014 , respectively. 3 Excludes loans that have completed the foreclosure or short sale process (i.e., involuntary prepayments). Other Variable Interest Entities In addition to exposure to VIE s arising from transfers of financial assets, the Company also has involvement with VIE s from other business activities. Total Return Swaps At September 30, 2015 and December 31, 2014 , the outstanding notional amounts of TRS contracts that VIE s entered into with the Company totaled $2.4 billion and $2.3 billion , respectively, and the Company 's related senior financing outstanding to VIE s were also $2.4 billion and $2.3 billion , respectively. These financings were classified within trading assets and derivative instruments on the Consolidated Balance Sheets and were measured at fair value. The Company entered into TRS contracts with third parties with the same outstanding notional amounts. The notional amounts of the TRS contracts with the VIE s represent the Company ’s maximum exposure to loss, although such exposure to loss has been mitigated via the TRS contracts with third parties. For additional information on the Company ’s TRS contracts and its involvement with these VIE s, see Note 13 , “Derivative Financial Instruments,” in this Form 10-Q, as well as Note 10, “Certain Transfers of Financial Assets and Variable Interest Entities,” to the Company 's 2014 Annual Report on Form 10-K. Community Development Investments As part of its community reinvestment initiatives, the Company invests in multi-family affordable housing developments and other community development entities as a limited and/or general partner and/or a debt provider. The Company receives tax credits for its limited partner investments. The Company has determined that the vast majority of the related partnerships are VIE s. In limited circumstances, the Company owns both the limited partner and general partner interests, in which case the related partnerships are not considered VIE s and are consolidated by the Company . The Company sold properties with a carrying value of $72 million for gains of $19 million during the nine months ended September 30, 2015 . No properties were sold during the third quarter of 2015 and the remaining properties held for sale at September 30, 2015 were immaterial. One property was sold during the three and nine months ended September 30, 2014 for an immaterial gain. The Company has concluded that it is not the primary beneficiary of affordable housing partnerships when it invests as a limited partner and there is a third party general partner. The investments are accounted for in accordance with the accounting requirements for investments in affordable housing projects. The general partner or an affiliate of the general partner often provides guarantees to the limited partner, which protects the Company from losses attributable to operating deficits, construction deficits, and tax credit allocation deficits. Assets of $1.9 billion and $1.6 billion in these partnerships were not included in the Consolidated Balance Sheets at September 30, 2015 and December 31, 2014 , respectively. The Company 's limited partner interests had carrying values of $552 million and $363 million at September 30, 2015 and December 31, 2014 , respectively, and are recorded in other assets in the Company ’s Consolidated Balance Sheets. The Company ’s maximum exposure to loss for these investments totaled $1.1 billion and $910 million at September 30, 2015 and December 31, 2014 , respectively. The Company ’s maximum exposure to loss would result from the loss of its limited partner investments along with $396 million and $412 million of loans, interest-rate swap fair value exposures, or letters of credit issued by the Company to the entities at September 30, 2015 and December 31, 2014 , respectively. The difference between the maximum exposure to loss and the investment and loan balances is primarily attributable to the unfunded equity commitments. Unfunded equity commitments are amounts that the Company has committed to the entities upon the entities meeting certain conditions. If these conditions are met, the Company will invest these additional amounts in the entities. The Company also owns noncontrolling interests in funds whose purpose is to invest in community developments. At September 30, 2015 and December 31, 2014 , the Company 's investment in these funds totaled $130 million and $113 million , respectively, and the Company 's maximum exposure to loss on its equity investments, which is comprised of its investments in the funds plus any additional unfunded equity commitments, was $255 million and $236 million , respectively . During the three months ended September 30, 2015 and 2014 , the Company recognized $18 million and $15 million of tax credits for qualified affordable housing projects, and $17 million and $14 million of amortization on qualified affordable housing projects in the provision for income taxes, respectively. During the nine months ended September 30, 2015 and 2014 , the Company recognized $46 million and $45 million of tax credits for qualified affordable housing projects, and $45 million and $41 million of amortization on qualified affordable housing projects in the provision for income taxes, respectively. During the three and nine months ended September 30, 2015 , the Company recorded $8 million and $18 million , respectively, of amortization expense (a component of noninterest expense) related to community development investments not within the scope of the accounting guidance for investments in qualified affordable housing projects. During the three and nine months ended September 30, 2014 , the Company recorded $4 million and $9 million , respectively, of amortization related to these non-qualified investments; $0 and $5 million was recorded within other noninterest expense on the Company 's Consolidated Statements of Income for the three and nine months ended September 30, 2014 , respectively, and $4 million was recorded within amortization expense for both the three and nine months ended September 30, 2014 . |
Net Income_(Loss) Per Common Sh
Net Income/(Loss) Per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Net Income/(Loss) Per Share | NOTE 9 – NET INCOME PER COMMON SHARE Equivalent shares of 14 million and 15 million related to common stock options and common stock warrants outstanding at September 30, 2015 and 2014 , respectively, were excluded from the computations of diluted net income per average common share because they would have been anti-dilutive. Reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding are presented below. Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2015 2014 2015 2014 Net income $537 $576 $1,449 $1,380 Preferred dividends (16 ) (9 ) (48 ) (28 ) Dividends and undistributed earnings allocated to unvested shares (2 ) (4 ) (5 ) (9 ) Net income available to common shareholders $519 $563 $1,396 $1,343 Average basic common shares 513 527 517 529 Effect of dilutive securities: Stock options 2 2 2 2 Restricted stock, RSUs, and warrants 4 4 4 4 Average diluted common shares 519 533 523 535 Net income per average common share - diluted $1.00 $1.06 $2.67 $2.51 Net income per average common share - basic $1.01 $1.07 $2.70 $2.54 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 10 - INCOME TAXES For the three months ended September 30, 2015 and 2014 , the provision for income taxes was $187 million and $67 million , representing effective tax rates of 26% and 10% , respectively. The effective tax rates for the three months ended September 30, 2015 and 2014 were favorably impacted by discrete income tax benefits of $35 million and $130 million , respectively. For the nine months ended September 30, 2015 and 2014 , the provision for income taxes was $579 million and $364 million , representing effective tax rates of 29% and 21% , respectively. The provision for income taxes includes both federal and state income taxes and differs from the provision using statutory rates primarily due to favorable permanent tax items such as income from lending to tax exempt entities and federal tax credits from community reinvestment activities. The Company calculated the provision for income taxes for the three and nine months ended September 30, 2015 and 2014 by applying the estimated annual effective tax rate to year-to-date pre-tax income and adjusting for discrete items that occurred during the period. The Company 's liability for UTB s was $152 million and $210 million at September 30, 2015 and December 31, 2014 , respectively. The decrease in the liability for UTB s during the nine months ended September 30, 2015 was primarily due to completion of a tax authority examination. It is reasonably possible that the liability for UTB s could decrease by as much as $65 million during the next 12 months due to completion of tax authority examinations. It is uncertain how much, if any, of this potential decrease will impact the Company ’s effective tax rate. |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2015 | |
Defined Contribution Plan Disclosure [Line Items] | |
Employee Benefit Plans | NOTE 11 - EMPLOYEE BENEFIT PLANS The Company sponsors incentive programs which are delivered through various plans, such as defined contribution, noncontributory pension, and other postretirement benefit plans, as well as through the issuance of RSU s, restricted stock, and LTI cash. See Note 15, “Employee Benefit Plans,” to the Company 's 2014 Annual Report on Form 10-K for further information regarding the employee benefit plans. Stock-based compensation expense recognized in noninterest expense consisted of the following: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Stock options $— $— $1 $1 Restricted stock 4 7 13 21 Performance stock units 5 4 21 9 RSUs 7 5 35 27 Total stock-based compensation $16 $16 $70 $58 Stock-based compensation tax benefit $6 $6 $27 $22 Components of net periodic benefit related to the Company's pension and other postretirement benefits plans consisted of the following: Pension Benefits 1 Other Postretirement Benefits Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 2015 2014 2015 2014 Service cost $2 $2 $4 $4 $— $— $— $— Interest cost 29 31 87 93 1 1 2 2 Expected return on plan assets (52 ) (50 ) (155 ) (150 ) (2 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (1 ) (2 ) (4 ) (4 ) Amortization of actuarial loss 5 4 16 12 — — — — Net periodic benefit ($16 ) ($13 ) ($48 ) ($41 ) ($2 ) ($2 ) ($6 ) ($6 ) 1 Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Guarantees | NOTE 12 – GUARANTEES The Company has undertaken certain guarantee obligations in the ordinary course of business. The issuance of a guarantee imposes an obligation for the Company to stand ready to perform and make future payments should certain triggering events occur. Payments may be in the form of cash, financial instruments, other assets, shares of stock, or provision of the Company ’s services. The following is a discussion of the guarantees that the Company has issued at September 30, 2015 . The Company has also entered into certain contracts that are similar to guarantees, but that are accounted for as derivatives as discussed in Note 13 , “Derivative Financial Instruments.” Letters of Credit Letters of credit are conditional commitments issued by the Company , generally to guarantee the performance of a client to a third party in borrowing arrangements, such as CP , bond financing, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients and may be reduced by selling participations to third parties. The Company issues letters of credit that are classified as financial standby, performance standby, or commercial letters of credit. At September 30, 2015 and December 31, 2014 , the maximum potential amount of the Company ’s obligation for issued financial and performance standby letters of credit was $2.9 billion and $3.0 billion , respectively. The Company ’s outstanding letters of credit generally have a term of less than one year but may extend longer. Some standby letters of credit are designed to be drawn upon in the normal course of business and others are drawn upon only in circumstances of dispute or default in the underlying transaction to which the Company is not a party. In all cases, the Company is entitled to reimbursement from the applicant. If a letter of credit is drawn upon and reimbursement is not provided by the applicant, the Company may take possession of the collateral securing the line of credit, where applicable. The Company monitors its credit exposure under standby letters of credit in the same manner as it monitors other extensions of credit in accordance with its credit policies. An internal assessment of the PD and loss severity in the event of default is performed, consistent with the methodologies used for all commercial borrowers. The management of credit risk for letters of credit leverages the risk rating process to focus greater visibility on higher risk and/or higher dollar letters of credit. The allowance for credit losses associated with letters of credit is a component of the unfunded commitments reserve recorded in other liabilities in the Consolidated Balance Sheets and is included in the allowance for credit losses as disclosed in Note 6 , “Allowance for Credit Losses.” Additionally, unearned fees relating to letters of credit are recorded in other liabilities. The net carrying amount of unearned fees was immaterial at September 30, 2015 and December 31, 2014 . Loan Sales and Servicing STM , a consolidated subsidiary of the Company , originates and purchases residential mortgage loans, a portion of which are sold to outside investors in the normal course of business, through a combination of whole loan sales to GSE s, Ginnie Mae , and non-agency investors. Prior to 2008, the Company also sold mortgage loans through a limited number of Company -sponsored securitizations. When mortgage loans are sold, representations and warranties regarding certain attributes of the loans are made to third party purchasers. Subsequent to the sale, if a material underwriting deficiency or documentation defect is discovered, STM may be obligated to repurchase the mortgage loan or to reimburse an investor for losses incurred (make whole requests) if such deficiency or defect cannot be cured by STM within the specified period following discovery. Additionally, defects in the securitization process or breaches of underwriting and servicing representations and warranties can result in loan repurchases, as well as adversely affect the valuation of MSR s, servicing advances, or other mortgage loan-related exposures, such as OREO . These representations and warranties may extend through the life of the mortgage loan. STM ’s risk of loss under its representations and warranties is partially driven by borrower payment performance since investors will perform extensive reviews of delinquent loans as a means of mitigating losses. Non-agency loan sales include whole loan sales and loans sold in private securitization transactions. While representations and warranties have been made related to these sales, they differ from those made in connection with loans sold to the GSE s in that non-agency loans may not be required to meet the same underwriting standards and non-agency investors may be required to demonstrate that an alleged breach is material and caused the investors' loss. Loans sold to Ginnie Mae are insured by the FHA and guaranteed by the VA . As servicer, the Company may elect to repurchase delinquent loans in accordance with Ginnie Mae guidelines; however, the loans continue to be insured. The Company indemnifies the FHA and VA for losses related to loans not originated in accordance with their guidelines. See Note 15 , "Contingencies," for additional information on current legal matters related to loan sales. The Company previously reached agreements in principle with Freddie Mac and Fannie Mae that relieve the Company of certain existing and future repurchase obligations related to 2000-2008 vintages for Freddie Mac and 2000-2012 vintages for Fannie Mae . Repurchase requests have declined significantly as a result of the settlements. Repurchase requests from GSE s, Ginnie Mae , and non-agency investors, for all vintages, are illustrated in the following table that summarizes demand activity for the nine months ended September 30 . (Dollars in millions) 2015 2014 Beginning pending repurchase requests $47 $126 Repurchase requests received 58 139 Repurchase requests resolved: Repurchased (17 ) (22 ) Cured (72 ) (198 ) Total resolved (89 ) (220 ) Ending pending repurchase requests 1 $16 $45 Percent from non-agency investors: Pending repurchase requests 6.0 % 7.0 % Repurchase requests received 0.6 % 0.8 % 1 Comprised of $15 million and $42 million from the GSE s, and $1 million and $3 million from non-agency investors at September 30, 2015 and 2014, respectively. The repurchase and make whole requests received have been primarily due to alleged material breaches of representations related to compliance with the applicable underwriting standards, including borrower misrepresentation and appraisal issues. STM performs a loan-by-loan review of all requests and contests demands to the extent they are not considered valid. The following table summarizes the changes in the Company ’s reserve for mortgage loan repurchases: Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Balance, at beginning of period $60 $77 $85 $78 Repurchase (benefit)/provision (1 ) 2 (9 ) 12 Charge-offs, net of recoveries — (2 ) (17 ) (13 ) Balance, at end of period $59 $77 $59 $77 A significant degree of judgment is used to estimate the mortgage repurchase liability as the estimation process is inherently uncertain and subject to imprecision. The Company believes that its reserve appropriately estimates incurred losses based on its current analysis and assumptions, inclusive of the Freddie Mac and Fannie Mae settlement agreements, GSE owned loans serviced by third party servicers, loans sold to private investors, and future indemnifications. Notwithstanding the aforementioned agreements with Freddie Mac and Fannie Mae settling certain aspects of the Company 's repurchase obligations, those institutions preserve their right to require repurchases arising from certain types of events, and that preservation of rights can impact future losses of the Company . While the repurchase reserve includes the estimated cost of settling claims related to required repurchases, the Company 's estimate of losses depends on its assumptions regarding GSE and other counterparty behavior, loan performance, home prices, and other factors. The related liability is recorded in other liabilities in the Consolidated Balance Sheets, and the related repurchase (benefit)/provision is recognized in mortgage production related income in the Consolidated Statements of Income. The following table summarizes the carrying value of the Company 's outstanding repurchased mortgage loans at September 30, 2015 and December 31, 2014 : (Dollars in millions) September 30, 2015 December 31, 2014 Outstanding repurchased mortgage loans: Performing LHFI $262 $271 Nonperforming LHFI 15 29 Nonperforming LHFS — 12 Total carrying value of outstanding repurchased mortgage loans $277 $312 In addition to representations and warranties related to loan sales, the Company makes representations and warranties that it will service the loans in accordance with investor servicing guidelines and standards, which may include (i) collection and remittance of principal and interest, (ii) administration of escrow for taxes and insurance, (iii) advancing principal, interest, taxes, insurance, and collection expenses on delinquent accounts, (iv) loss mitigation strategies including loan modifications, and (v) foreclosures. The Company normally retains servicing rights when loans are transferred; however, servicing rights are occasionally sold to third parties. When MSR s are sold, the Company makes representations and warranties related to servicing standards and obligations, and recognizes a liability for contingent losses recorded in other liabilities in the Consolidated Balance Sheets, separate from the reserve for mortgage loan repurchases, which totaled $18 million and $25 million at September 30, 2015 and December 31, 2014 , respectively. Contingent Consideration The Company has contingent payment obligations related to certain business combination transactions. Payments are calculated using certain post-acquisition performance criteria. The potential obligation is recorded as an other liability, measured at the fair value of the contingent payments, which totaled $23 million and $27 million at September 30, 2015 and December 31, 2014 , respectively. Visa The Company issues credit and debit transactions through Visa and MasterCard . The Company is a defendant, along with Visa and MasterCard (the “Card Associations”), as well as several other banks, in one of several antitrust lawsuits challenging the practices of the Card Associations (the “Litigation”). The Company entered into judgment and loss sharing agreements with Visa and certain other banks in order to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the Litigation. Additionally, in connection with Visa 's restructuring in 2007, shares of Visa common stock were issued to its financial institution members and the Company received its proportionate number of shares of Visa Inc. common stock, which were subsequently converted to Class B shares of Visa Inc. upon completion of Visa ’s IPO in 2008. A provision of the original Visa By-Laws, which was restated in Visa 's certificate of incorporation, contains a general indemnification provision between a Visa member and Visa that explicitly provides that each member's indemnification obligation is limited to losses arising from its own conduct and the specifically defined Litigation. Agreements associated with Visa 's IPO have provisions that Visa will fund a litigation escrow account, established for the purpose of funding judgments in, or settlements of, the Litigation. If the escrow account is insufficient to cover the Litigation losses, then Visa will issue additional Class A shares (“loss shares”). The proceeds from the sale of the loss shares would then be deposited in the escrow account. The issuance of the loss shares will cause a dilution of Visa 's Class B shares as a result of an adjustment to lower the conversion factor of the Class B shares to Class A shares . Visa U.S.A.'s members are responsible for any portion of the settlement or loss on the Litigation after the escrow account is depleted and the value of the Class B shares is fully diluted. In May 2009, the Company sold its 3.2 million Class B shares to the Visa Counterparty and entered into a derivative with the Visa Counterparty . Under the derivative, the Visa Counterparty is compensated by the Company for any decline in the conversion factor as a result of the outcome of the Litigation. Conversely, the Company is compensated by the Visa Counterparty for any increase in the conversion factor. The amount of payments made or received under the derivative is a function of the 3.2 million shares sold to the Visa Counterparty , the change in conversion rate, and Visa ’s share price. The Visa Counterparty , as a result of its ownership of the Class B shares , is impacted by dilutive adjustments to the conversion factor of the Class B shares caused by the Litigation losses. The fair value of the derivative liability was approximately $6 million and $5 million at September 30, 2015 and December 31, 2014 , respectively; however, the ultimate impact to the Company could be significantly different based on the outcome of the Litigation. Tax Credit Investments Sold STCC , one of the Company 's subsidiaries, previously obtained state and federal tax credits through the construction and development of affordable housing properties and continues to obtain state and federal tax credits through investments in affordable housing developments. STCC or its subsidiaries are limited and/or general partners in various partnerships established for the properties. Some of the investments that generate state tax credits may be sold to outside investors. At September 30, 2015 , STCC had four transactions outstanding that contain guarantee provisions stating that STCC will make payment to the outside investors if the tax credits become ineligible. STCC also guarantees that the general partner under the transaction will perform on the delivery of the credits. The guarantees are expected to expire within a 15 year period from inception and have remaining years to expiry ranging from three to seven years. At September 30, 2015 , the maximum potential amount that STCC could be obligated to pay under these guarantees is $19 million ; however, STCC can seek recourse against the general partner. Additionally, STCC can seek reimbursement from cash flow and residual values of the underlying affordable housing properties, provided that the properties retain value. At September 30, 2015 and December 31, 2014 , an immaterial amount was accrued related to the obligation to deliver tax credits, and was recorded in other liabilities in the Consolidated Balance Sheets. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 13 - DERIVATIVE FINANCIAL INSTRUMENTS The Company enters into various derivative financial instruments, both in a dealer capacity to facilitate client transactions and as an end user as a risk management tool. The ALCO monitors all derivative activities. When derivatives have been entered into with clients, the Company generally manages the risk associated with these derivatives within the framework of its VAR methodology that monitors total daily exposure and seeks to manage the exposure on an overall basis. Derivatives are also used as a risk management tool to hedge the Company ’s balance sheet exposure to changes in identified cash flow and fair value risks, either economically or in accordance with hedge accounting provisions. The Company ’s Corporate Treasury function is responsible for employing the various hedge accounting strategies to manage these objectives. Additionally, as a normal part of its operations, the Company enters into IRLC s on mortgage loans that are accounted for as freestanding derivatives and has certain contracts containing embedded derivatives that are measured, in their entirety, at fair value. All freestanding derivatives and any embedded derivatives that the Company bifurcates from the host contracts are measured at fair value in the Consolidated Balance Sheets in trading assets and derivative instruments and trading liabilities and derivative instruments. The associated gains and losses are either recognized in AOCI , net of tax, or within the Consolidated Statements of Income, depending upon the use and designation of the derivatives. Credit and Market Risk Associated with Derivative Instruments Derivatives expose the Company to counterparty credit risk if the counterparty to the derivative contract does not perform as expected. The Company minimizes the credit risk of derivatives by entering into transactions with counterparties with defined exposure limits based on their credit quality and in accordance with established policies and procedures. All counterparties are regularly reviewed by the Company ’s Credit Risk Management division and appropriate action is taken to adjust the exposure to certain counterparties as necessary. The Company ’s derivative transactions may also be governed by ISDA documentation or other legally enforceable industry standard master netting agreements. In certain cases and depending on the nature of the underlying derivative transactions, bilateral collateral agreements are also utilized. Furthermore, the Company and its subsidiaries are subject to OTC derivative clearing requirements, which require certain derivatives to be cleared through central clearinghouses with which the Company and other counterparties are required to post initial margin. To mitigate the risk of non-payment, variation margin is received or paid daily based on the net asset or liability position of the contracts. When the Company has more than one outstanding derivative transaction with a single counterparty, and there exists a legal right of offset with that counterparty, the Company considers its exposure to the counterparty to be the net fair value of its derivative positions with that counterparty. If the net fair value is positive, then the counterparty asset value also reflects cash collateral held. At September 30, 2015 , these net asset positions were $1.1 billion , reflecting $1.7 billion of net derivative gains adjusted for cash and other collateral of $592 million that the Company held in relation to these gain positions. At December 31, 2014 , reported net derivative assets were $1.1 billion , reflecting $1.5 billion of net derivative gains, adjusted for cash and other collateral of $386 million that the Company held in relation to these gain positions. Derivatives also expose the Company to market risk. Market risk is the adverse effect that a change in market factors, such as interest rates, currency rates, equity prices, commodity prices, or implied volatility, has on the value of a derivative. Under an established risk governance framework, the Company comprehensively manages the market risk associated with its derivatives by establishing and monitoring limits on the types and degree of risk that may be undertaken. The Company continually measures this risk associated with its derivatives designated as trading instruments using a VAR methodology. Other tools and risk measures are also used to actively manage derivatives risk including scenario analysis and stress testing. Derivative instruments are priced using observable market inputs at a mid-market valuation point and take into consideration appropriate valuation adjustments for collateral, market liquidity, and counterparty credit risk. For purposes of determining fair value adjustments to its OTC derivative positions, the Company takes into consideration the credit profile and likelihood of default by counterparties and itself, as well as its net exposure, which considers legally enforceable master netting agreements and collateral along with remaining maturities. For purposes of estimating the DVA , which is the Company ’s own credit risk on derivative liability positions, the Company uses financials sector/ratings CDS spreads. To determine counterparty default probabilities, the Company leverages publicly available counterparty information when data of acceptable quality is available. In particular, for purposes of determining the CVA , the Company incorporates market-based views of counterparty default probabilities derived from observed credit spreads in the CDS market, when available. Absent available market-derived counterparty information, the expected loss associated with each counterparty is estimated using the Company 's internal risk rating system. The risk rating system utilizes counterparty-specific PD and LGD estimates to derive the expected loss. The Company adjusted the net fair value of its derivative contracts for estimates of net counterparty credit risk by approximately $5 million and $7 million at September 30, 2015 and December 31, 2014 , respectively. The Company 's approach toward determining fair value adjustments of derivative instruments is subject to ongoing internal review and enhancement. Currently, the majority of the Company ’s derivatives contain contingencies that relate to the creditworthiness of the Bank . These contingencies, which are contained in industry standard master netting agreements, may be considered events of default. Should the Bank be in default under any of these provisions, the Bank ’s counterparties would be permitted to close-out net, at amounts that would approximate the fair values of the derivatives, resulting in a single sum due by one party to the other. The counterparties would have the right to apply any collateral posted by the Bank against any net amount owed by the Bank . Additionally, certain of the Company ’s derivative liability positions, totaling $1.1 billion in fair value at both September 30, 2015 and December 31, 2014 , contain provisions conditioned on downgrades of the Bank ’s credit rating. These provisions, if triggered, would either give rise to an ATE that permits the counterparties to close-out net and apply collateral or, where a CSA is present, require the Bank to post additional collateral. At September 30, 2015 , the Bank carried senior long-term debt credit ratings of Baal / A- /BBB+ from Moody’s , S&P , and Fitch , respectively. On October 5, 2015, Fitch announced that it had upgraded the Bank 's senior long-term debt rating from BBB+ to A- . At September 30, 2015 , ATE s have been triggered for less than $1 million in fair value liabilities. The maximum additional liability that could be triggered from ATE s was approximately $15 million at September 30, 2015 . At September 30, 2015 , $1.1 billion in fair value of derivative liabilities were subject to CSA s, against which the Bank has posted $1.1 billion in collateral, primarily in the form of cash. At September 30, 2015 , if requested by the counterparty pursuant to the terms of the CSA , the Bank would be required to post additional collateral of approximately $7 million against these contracts if the Bank were downgraded to Baa3/BBB-. Further downgrades to Ba1/BB+ or below do not contain predetermined collateral posting levels. Notional and Fair Value of Derivative Positions The following tables present the Company ’s derivative positions at September 30, 2015 and December 31, 2014 . The notional amounts in the tables are presented on a gross basis and have been classified within derivative assets or derivative liabilities based on the estimated fair value of the individual contract at September 30, 2015 and December 31, 2014 . Gross positive and gross negative fair value amounts associated with respective notional amounts are presented without consideration of any netting agreements, including collateral arrangements. Net fair value derivative amounts are adjusted on an aggregate basis, where applicable, to take into consideration the effects of legally enforceable master netting agreements, including any cash collateral received or paid, and are recognized in trading assets and derivative instruments or trading liabilities and derivative instruments on the Consolidated Balance Sheets. For contracts constituting a combination of options that contain a written option and a purchased option (such as a collar), the notional amount of each option is presented separately, with the purchased notional amount generally being presented as a derivative asset and the written notional amount being presented as a derivative liability. For contracts that contain a combination of options, the fair value is generally presented as a single value with the purchased notional amount if the combined fair value is positive, and with the written notional amount if the combined fair value is negative. September 30, 2015 Asset Derivatives Liability Derivatives (Dollars in millions) Notional Amounts Fair Value Notional Amounts Fair Value Derivative instruments designated in cash flow hedging relationships 1 Interest rate contracts hedging floating rate loans $15,500 $262 $— $— Derivative instruments designated in fair value hedging relationships 2 Interest rate contracts hedging fixed rate debt 1,700 27 600 — Interest rate contracts hedging brokered CDs 30 — — — Total 1,730 27 600 — Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: MSRs 18,209 285 6,009 159 LHFS, IRLCs 4 2,638 13 4,478 40 Trading activity 5 69,745 2,449 63,113 2,237 Foreign exchange rate contracts hedging trading activity 3,634 127 3,303 123 Credit contracts hedging: Loans — — 215 3 Trading activity 6 2,568 16 2,735 13 Equity contracts hedging trading activity 5 22,911 1,944 28,546 2,253 Other contracts: IRLCs and other 7 2,672 38 81 6 Commodities 466 97 463 96 Total 122,843 4,969 108,943 4,930 Total derivative instruments $140,073 $5,258 $109,543 $4,930 Total gross derivative instruments, before netting $5,258 $4,930 Less: Legally enforceable master netting agreements (3,268 ) (3,268 ) Less: Cash collateral received/paid (541 ) (1,097 ) Total derivative instruments, after netting $1,449 $565 1 See “Cash Flow Hedges” in this Note for further discussion. 2 See “Fair Value Hedges” in this Note for further discussion. 3 See “Economic Hedging and Trading Activities” in this Note for further discussion. 4 Amount includes $848 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Amounts include $12.7 billion and $536 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. 6 Asset and liability amounts include $6 million and $9 million of notional amounts from purchased and written credit risk participation agreements, respectively, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. 7 Includes $49 million notional amount that is based on the number of Visa Class B shares , 3.2 million , the conversion ratio from Class B shares to Class A shares , and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12 , “Guarantees” for additional information. December 31, 2014 Asset Derivatives Liability Derivatives (Dollars in millions) Notional Amounts Fair Value Notional Amounts Fair Value Derivative instruments designated in cash flow hedging relationships 1 Interest rate contracts hedging floating rate loans $18,150 $208 $2,850 $8 Derivative instruments designated in fair value hedging relationships 2 Interest rate contracts hedging fixed rate debt 2,700 30 2,600 1 Interest rate contracts hedging brokered CDs 30 — — — Total 2,730 30 2,600 1 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: MSRs 5,172 163 8,807 30 LHFS, IRLCs 4 1,840 4 4,923 23 Trading activity 5 61,049 2,405 61,065 2,225 Foreign exchange rate contracts hedging trading activity 2,429 104 2,414 100 Credit contracts hedging: Loans — — 392 5 Trading activity 6 2,282 20 2,452 20 Equity contracts hedging trading activity 5 21,875 2,809 28,128 3,090 Other contracts: IRLCs and other 7 2,231 25 139 5 Commodities 381 71 374 70 Total 97,259 5,601 108,694 5,568 Total derivative instruments $118,139 $5,839 $114,144 $5,577 Total gross derivative instruments, before netting $5,839 $5,577 Less: Legally enforceable master netting agreements (4,083 ) (4,083 ) Less: Cash collateral received/paid (449 ) (1,032 ) Total derivative instruments, after netting $1,307 $462 1 See “Cash Flow Hedges” in this Note for further discussion. 2 See “Fair Value Hedges” in this Note for further discussion. 3 See “Economic Hedging and Trading Activities” in this Note for further discussion. 4 Amount includes $791 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Amounts include $10.3 billion and $563 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. 6 Asset and liability amounts both include $4 million of notional amounts from purchased and written interest rate swap risk participation agreements, respectively, whose notional is calculated as the notional of the interest rate swap participated adjusted by the relevant RWA conversion factor. 7 Includes $49 million notional amount that is based on the number of Visa Class B shares , 3.2 million , the conversion ratio from Class B shares to Class A shares , and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12 , “Guarantees” for additional information. Impact of Derivative Instruments on the Consolidated Statements of Income and Shareholders’ Equity The impacts of derivative instruments on the Consolidated Statements of Income and the Consolidated Statements of Shareholders’ Equity for the three and nine months ended September 30 are presented below. The impacts are segregated between derivatives that are designated in hedge accounting relationships and those that are used for economic hedging or trading purposes, with further identification of the underlying risks in the derivatives and the hedged items, where appropriate. The tables do not disclose the financial impact of the activities that these derivative instruments are intended to hedge. Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Amount of Pre-tax Gain in OCI on Derivatives Amount of Pre-tax Gain into Income Amount of Pre-tax Gain in OCI on Derivatives Amount of Pre-tax Gain into Income Classification of Pre-tax Gain from AOCI into Income Derivative instruments in cash flow hedging relationships: Interest rate contracts hedging floating rate loans 1 $204 $47 $338 $126 Interest and fees on loans 1 During the three and nine months ended September 30, 2015 , the Company also reclassified $23 million and $61 million , respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Amount of Gain/(Loss) on Derivatives Amount of Loss on Related Hedged Items Amount of Loss Recognized in Income on Hedges Amount of Gain on Derivatives Amount of Loss on Related Hedged Items Amount of Loss Recognized in Income on Hedges Derivative instruments in fair value hedging relationships: Interest rate contracts hedging fixed rate debt 1 $— ($1 ) ($1 ) $7 ($8 ) ($1 ) 1 Amounts are recognized in trading income in the Consolidated Statements of Income. (Dollars in millions) Classification of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30, 2015 Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30, 2015 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: MSRs Mortgage servicing related income $298 $223 LHFS, IRLCs Mortgage production related income (69 ) (60 ) LHFI Other noninterest income (2 ) (2 ) Trading activity Trading income 5 46 Foreign exchange rate contracts hedging trading activity Trading income 21 57 Credit contracts hedging: Loans Other noninterest income — (1 ) Trading activity Trading income 6 19 Equity contracts hedging trading activity Trading income — 3 Other contracts hedging: IRLCs Mortgage production related income 58 151 Commodities Trading income 1 2 Total $318 $438 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Amount of Amount of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion) Amount of Amount of Classification of Pre-tax Gain Derivative instruments in cash flow hedging relationships: Interest rate contracts hedging floating rate loans 1 ($31 ) $76 $36 $225 Interest and fees on loans 1 During the three and nine months ended September 30, 2014 , the Company also reclassified $23 million and $77 million , respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Amount of Loss on Derivatives Amount of Gain on Related Amount of Gain/(Loss) Recognized in Income on Hedges Amount of Amount of Loss on Related Hedged Items Amount of Gain Derivative instruments in fair value hedging relationships: Interest rate contracts hedging fixed rate debt 1 ($7 ) $7 $— $10 ($9 ) $1 1 Amounts are recognized in trading income in the Consolidated Statements of Income. (Dollars in millions) Classification of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain on Derivatives Amount of Gain/(Loss) on Derivatives During the Nine Months Ended September 30, 2014 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: MSRs Mortgage servicing related income $17 $138 LHFS, IRLCs Mortgage production related income 4 (92 ) Trading activity Trading income 9 34 Foreign exchange rate contracts hedging trading activity Trading income 44 43 Credit contracts hedging: Loans Other noninterest income 1 — Trading activity Trading income 4 13 Equity contracts hedging trading activity Trading income 1 4 Other contracts - IRLCs Mortgage production related income 52 190 Total $132 $330 Netting of Derivative Instruments The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company 's securities borrowed or purchased under agreements to resell, and securities sold under agreements to repurchase, that are subject to enforceable master netting agreements or similar agreements, are discussed in Note 2 , "Federal Funds Sold and Securities Financing Activities." The Company enters into ISDA or other legally enforceable industry standard master netting agreements with derivative counterparties. Under the terms of the master netting agreements, all transactions between the Company and the counterparty constitute a single business relationship such that in the event of default, the nondefaulting party is entitled to set off claims and apply property held by that party in respect of any transaction against obligations owed. Any payments, deliveries, or other transfers may be applied against each other and netted. The following tables present total gross derivative instrument assets and liabilities at September 30, 2015 and December 31, 2014 , which are adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid on the net amount reported in the Consolidated Balance Sheets. Also included in the tables are financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third party custodians. These amounts are not offset on the Consolidated Balance Sheets but are shown as a reduction to total derivative instrument assets and liabilities to derive net derivative assets and liabilities. These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged. (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2015 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $4,748 $3,455 $1,293 $51 $1,242 Derivatives not subject to master netting arrangement or similar arrangement 38 — 38 — 38 Exchange traded derivatives 472 354 118 — 118 Total derivative instrument assets $5,258 $3,809 $1,449 1 $51 $1,398 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $4,488 $4,011 $477 $20 $457 Derivatives not subject to master netting arrangement or similar arrangement 88 — 88 — 88 Exchange traded derivatives 354 354 — — — Total derivative instrument liabilities $4,930 $4,365 $565 2 $20 $545 December 31, 2014 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $5,127 $4,095 $1,032 $63 $969 Derivatives not subject to master netting arrangement or similar arrangement 25 — 25 — 25 Exchange traded derivatives 687 437 250 — 250 Total derivative instrument assets $5,839 $4,532 $1,307 1 $63 $1,244 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $5,001 $4,678 $323 $12 $311 Derivatives not subject to master netting arrangement or similar arrangement 133 — 133 — 133 Exchange traded derivatives 443 437 6 — 6 Total derivative instrument liabilities $5,577 $5,115 $462 2 $12 $450 1 At September 30, 2015 , $1.4 billion , net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company 's Consolidated Balance Sheets. At December 31, 2014 , $1.3 billion , net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company 's Consolidated Balance Sheets. 2 At September 30, 2015 , $565 million , net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company 's Consolidated Balance Sheets. At December 31, 2014 , $462 million , net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company 's Consolidated Balance Sheets. Credit Derivative Instruments As part of SunTrust 's trading businesses, the Company enters into contracts that are, in form or substance, written guarantees: specifically, CDS , risk participations, and TRS . The Company accounts for these contracts as derivatives and, accordingly, records these contracts at fair value, with changes in fair value recognized in trading income in the Consolidated Statements of Income. The Company writes CDS , which are agreements under which the Company receives premium payments from its counterparty for protection against an event of default of a reference asset. In the event of default under the CDS , the Company would either settle its obligation net cash or make a cash payment to its counterparty and take delivery of the defaulted reference asset, from which the Company may recover all, a portion, or none of the credit loss, depending on the performance of the reference asset. Events of default, as defined in the CDS agreements, are generally triggered upon the failure to pay and similar events related to the issuer(s) of the reference asset. When the Company has written CDS , all written CDS contracts reference single name corporate credits or corporate credit indices. The Company generally enters into offsetting CDS for the underlying reference asset, under which the Company pays a premium to its counterparty for protection against an event of default on the reference asset. The counterparties to these purchased CDS are generally of high creditworthiness and typically have ISDA master netting agreements in place that subject the CDS to master netting provisions, thereby mitigating the risk of non-payment to the Company . As such, at September 30, 2015 , the Company did not have any material risk of making a non-recoverable payment on any written CDS . During 2015 and 2014 , the only instances of default on written CDS were driven by credit indices with constituent credit default. In all cases where the Company made resulting cash payments to settle, the Company collected like amounts from the counterparties to the offsetting purchased CDS . At September 30, 2015 and December 31, 2014 , written CDS had remaining terms of five years and four years, respectively. The fair values of written CDS were under $1 million and $1 million at September 30, 2015 and December 31, 2014 , respectively. The maximum guarantees outstanding at September 30, 2015 and December 31, 2014 , as measured by the gross notional amounts of written CDS , were $150 million and $20 million , respectively, which represent the curtailment of mirror purchase CDS positions. At September 30, 2015 and December 31, 2014 , the gross notional amounts of purchased CDS contracts, which protect the Company against default of a reference asset, were $315 million and $190 million , respectively. The fair values of purchased CDS were $2 million and $5 million at September 30, 2015 and December 31, 2014 , respectively. The Company has also entered into TRS contracts on loans. The Company ’s TRS business consists of matched trades, such that when the Company pays depreciation on one TRS , it receives the same amount on the matched TRS . To mitigate its credit risk, the Company typically receives initial cash collateral from the counterparty upon entering into the TRS and is entitled to additional collateral if the fair value of the underlying reference assets deteriorates. There were $2.4 billion and $2.3 billion of outstanding TRS notional balances at September 30, 2015 and December 31, 2014 , respectively. The fair values of these TRS assets and liabilities at September 30, 2015 were $16 million and $11 million , respectively, and related collateral held at September 30, 2015 was $462 million . The fair values of the TRS assets and liabilities at December 31, 2014 were $19 million and $14 million , respectively, and related collateral held at December 31, 2014 was $373 million . For additional information on the Company's TRS contracts, see Note 8 , "Certain Transfers of Financial Assets and Variable Interest Entities," as well as Note 14 , "Fair Value Election and Measurement." The Company writes risk participations, which are credit derivatives, whereby the Company has guaranteed payment to a dealer counterparty in the event the counterparty experiences a loss on a derivative, such as an interest rate swap, due to a failure to pay by the counterparty’s customer (the “obligor”) on that derivative. The Company monitors its payment risk on its risk participations by monitoring the creditworthiness of the obligors, which is based on the normal credit review process the Company would have performed had it entered into a derivative directly with the obligors. The obligors are all corporations or partnerships. The Company continues to monitor the creditworthiness of the obligors and the likelihood of payment could change at any time due to unforeseen circumstances. To date, no material losses have been incurred related to the Company ’s written risk participations. At September 30, 2015 , the remaining terms for these risk participations generally ranged from zero to eight years, with a weighted average on the maximum estimated exposure of 4 years. The Company ’s maximum estimated exposure to written risk participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on interest rate curve simulations and assuming 100% default by all obligors on the maximum values, was approximately $73 million and $31 million at September 30, 2015 and December 31, 2014 , respectively. The fair values of the written risk participations were immaterial at both September 30, 2015 and December 31, 2014 . As part of its trading activities, the Company may enter into purchased risk participations to mitigate credit exposure to a derivative counterparty. Cash Flow Hedging Instruments The Company utilizes a comprehensive risk management strategy to monitor sensitivity of earnings to movements in interest rates. Specific types of funding and principal amounts hedged are determined based on prevailing market conditions and the shape of the yield curve. In conjunction with this strategy, the Company may employ various interest rate derivatives as risk management tools to hedge interest rate risk from recognized assets and liabilities or from forecasted transactions. The terms and notional amounts of derivatives are determined based on management’s assessment of future interest rates, as well as other factors. Interest rate swaps have been designated as hedging the exposure to the benchmark interest rate risk associated with floating rate loans. At September 30, 2015 , the maturities for hedges of floating rate loans ranged from one to seven years, with the weighted average being 3.2 years. These hedges have been highly effective in offsetting the designated risks, yielding an immaterial amount of ineffectiveness for the three and nine months ended September 30, 2015 and 2014 . At September 30, 2015 , $211 million of the deferred net pre-tax gains on derivative instruments that are recognized in AOCI are expected to be reclassified to net interest income over the next twelve months in connection with the recognition of interest income on these hedged items. The amount to be reclassified into income includes both active and terminated or de-designated cash flow hedges. The Company may choose to terminate or de-designate a hedging relationship in this program due to a change in the risk management objective for that specific hedge item, which may arise in conjunction with an overall balance sheet management strategy. Fair Value |
Fair Value Election and Measure
Fair Value Election and Measurement | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Election and Measurement | NOTE 14 - FAIR VALUE ELECTION AND MEASUREMENT The Company measures certain assets and liabilities at fair value, which are classified as level 1, 2, or 3 within the fair value hierarchy, as shown below, on the basis of whether the measurement employs observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company ’s own assumptions taking into account information about market participant assumptions that is readily available. • Level 1: Quoted prices for identical instruments in active markets. • Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company ’s recurring fair value measurements are based on a requirement to measure such assets and liabilities at fair value or the Company ’s election to measure certain financial assets and liabilities at fair value. Assets and liabilities that are required to be measured at fair value on a recurring basis include trading securities, securities AFS , and derivative financial instruments. Assets and liabilities that the Company has elected to measure at fair value on a recurring basis include MSR s and certain LHFS , LHFI , trading loans, and issuances of fixed rate debt. The Company elects to measure certain assets and liabilities at fair value to better align its financial performance with the economic value of actively traded or hedged assets or liabilities. The use of fair value also enables the Company to mitigate non-economic earnings volatility caused from financial assets and liabilities being carried at different bases of accounting, as well as to more accurately portray the active and dynamic management of the Company ’s balance sheet. The Company uses various valuation techniques and assumptions in estimating fair value. The assumptions used to estimate the value of an instrument have varying degrees of impact to the overall fair value of an asset or liability. This process involves the gathering of multiple sources of information, including broker quotes, values provided by pricing services, trading activity in other identical or similar securities, market indices, and pricing matrices. When observable market prices for the asset or liability are not available, the Company employs various modeling techniques, such as discounted cash flow analyses to estimate fair value. Models used to produce material financial reporting information are validated prior to use and following any material change in methodology. Their performance is monitored quarterly, and any material deterioration in model performance is addressed. This review is performed by an internal group that reports to the Corporate Risk Function. The Company has formal processes and controls in place to support the appropriateness of its fair value estimates. For fair values obtained from a third party, or those that include certain trader estimates of fair value, there is an independent price validation function that provides oversight for these estimates. For level 2 instruments and certain level 3 instruments, the validation generally involves evaluating pricing received from two or more other third party pricing sources that are widely used by market participants. The Company evaluates this pricing information from both a qualitative and quantitative perspective and determines whether any pricing differences exceed acceptable thresholds. If these thresholds are exceeded, the Company assesses differences in valuation approaches used, which may include contacting a pricing service to gain further insight into the valuation of a particular security or class of securities to resolve the pricing variance, which could include an adjustment to the price used for financial reporting purposes. The Company classifies instruments within level 2 in the fair value hierarchy when it determines that external pricing sources estimated fair value using prices for similar instruments trading in active markets. A wide range of quoted values from pricing sources may imply a reduced level of market activity and indicate that significant adjustments to price indications have been made. In such cases, the Company evaluates whether the asset or liability should be classified as level 3. Determining whether to classify an instrument as level 3 involves judgment and is based on a variety of subjective factors, including whether a market is inactive. A market is considered inactive if significant decreases in the volume and level of activity for the asset or liability have been observed. In making this determination the Company evaluates the number of recent transactions in either the primary or secondary market, whether price quotations are current, the nature of market participants, the variability of price quotations, the breadth of bid/ask spreads, declines in (or the absence of) new issuances, and the availability of public information. When a market is determined to be inactive, significant adjustments may be made to price indications when estimating fair value. In making these adjustments the Company seeks to employ assumptions a market participant would use to value the asset or liability, including consideration of illiquidity in the referenced market. Recurring Fair Value Measurements The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. September 30, 2015 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $443 $— $— $— $443 Federal agency securities — 532 — — 532 U.S. states and political subdivisions — 40 — — 40 MBS - agency — 565 — — 565 CLO securities — 2 — — 2 Corporate and other debt securities — 390 — — 390 CP — 312 — — 312 Equity securities 65 — — — 65 Derivative instruments 474 4,746 38 (3,809 ) 1,449 Trading loans — 2,739 — — 2,739 Total trading assets and derivative instruments 982 9,326 38 (3,809 ) 6,537 Securities AFS: U.S. Treasury securities 3,065 — — — 3,065 Federal agency securities — 420 — — 420 U.S. states and political subdivisions — 169 5 — 174 MBS - agency — 22,905 — — 22,905 MBS - private — — 102 — 102 ABS — — 15 — 15 Corporate and other debt securities — 33 5 — 38 Other equity securities 2 111 — 440 — 551 Total securities AFS 3,176 23,527 567 — 27,270 Residential LHFS — 1,881 2 — 1,883 LHFI — — 262 — 262 MSRs — — 1,262 — 1,262 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 584 — — — 584 MBS - agency — 4 — — 4 Corporate and other debt securities — 177 — — 177 Derivative instruments 355 4,569 6 (4,365 ) 565 Total trading liabilities and derivative instruments 939 4,750 6 (4,365 ) 1,330 Long-term debt — 986 — — 986 Other liabilities 3 — — 23 — 23 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes $111 million of mutual fund investments, $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $6 million of other. 3 Includes contingent consideration obligations related to acquisitions. December 31, 2014 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $267 $— $— $— $267 Federal agency securities — 547 — — 547 U.S. states and political subdivisions — 42 — — 42 MBS - agency — 545 — — 545 CLO securities — 3 — — 3 Corporate and other debt securities — 509 — — 509 CP — 327 — — 327 Equity securities 45 — — — 45 Derivative instruments 688 5,126 25 (4,532 ) 1,307 Trading loans — 2,610 — — 2,610 Total trading assets and derivative instruments 1,000 9,709 25 (4,532 ) 6,202 Securities AFS: U.S. Treasury securities 1,921 — — — 1,921 Federal agency securities — 484 — — 484 U.S. states and political subdivisions — 197 12 — 209 MBS - agency — 23,048 — — 23,048 MBS - private — — 123 — 123 ABS — — 21 — 21 Corporate and other debt securities — 36 5 — 41 Other equity securities 2 138 — 785 — 923 Total securities AFS 2,059 23,765 946 — 26,770 Residential LHFS — 1,891 1 — 1,892 LHFI — — 272 — 272 MSRs — — 1,206 — 1,206 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 485 — — — 485 MBS - agency — 1 — — 1 Corporate and other debt securities — 279 — — 279 Derivative instruments 444 5,128 5 (5,115 ) 462 Total trading liabilities and derivative instruments 929 5,408 5 (5,115 ) 1,227 Long-term debt — 1,283 — — 1,283 Other liabilities 3 — — 27 — 27 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes $138 million of mutual fund investments, $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $7 million of other. 3 Includes contingent consideration obligations related to acquisitions. The following tables present the difference between fair value and the aggregate UPB of trading loans, LHFS , LHFI , and long-term debt instruments for which the FVO has been elected. For LHFS and LHFI for which the FVO has been elected, the tables also include the difference between fair value and the aggregate UPB of loans in nonaccrual status. (Dollars in millions) Fair Value at September 30, 2015 Aggregate UPB under FVO at September 30, 2015 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,739 $2,687 $52 LHFS: Accrual 1,883 1,806 77 LHFI: Accrual 260 269 (9 ) Nonaccrual 2 3 (1 ) Liabilities: Long-term debt 986 907 79 (Dollars in millions) Fair Value at December 31, 2014 Aggregate UPB under FVO at December 31, 2014 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,610 $2,589 $21 LHFS: Accrual 1,891 1,817 74 Nonaccrual 1 1 — LHFI: Accrual 269 281 (12 ) Nonaccrual 3 5 (2 ) Liabilities: Long-term debt 1,283 1,176 107 The following tables present the change in fair value during the three and nine months ended September 30, 2015 and 2014 of financial instruments for which the FVO has been elected, as well as MSR s. The tables do not reflect the change in fair value attributable to the related economic hedges the Company uses to mitigate the market-related risks associated with the financial instruments. Generally, the changes in the fair value of economic hedges are recognized in trading income, mortgage production related income, or mortgage servicing related income, as appropriate, and are designed to partially offset the change in fair value of the financial instruments referenced in the tables below. The Company ’s economic hedging activities are deployed at both the instrument and portfolio level. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2015 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2015 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Current Period Earnings 2 Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Current Period Earnings 2 Assets: Trading loans ($1 ) $— $— $— ($1 ) $1 $— $— $— $1 LHFS — 20 — — 20 — 32 — — 32 LHFI — — — 4 4 — — — 3 3 MSRs — — (198 ) — (198 ) — 1 (235 ) — (234 ) Liabilities: Long-term debt 9 — — — 9 28 — — — 28 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2015 , income related to MSR s includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2015 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS , LHFI , and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2014 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2014 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Total Changes in Fair Values Included in Current Period Earnings 2 Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Total Changes in Fair Values Included in Current Period Earnings 2 Assets: Trading loans $1 $— $— $1 $10 $— $— $10 LHFS — (32 ) — (32 ) — (18 ) — (18 ) LHFI — — — — — 8 — 8 MSRs — — (55 ) (55 ) — 2 (240 ) (238 ) Liabilities: Brokered time deposits 1 — — 1 6 — — 6 Long-term debt 9 — — 9 6 — — 6 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2014 , income related to MSR s includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2014 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS , LHFI , brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. The following is a discussion of the valuation techniques and inputs used in estimating fair value measurements for assets and liabilities measured at fair value on a recurring basis and classified as level 2 or 3. Trading Assets and Derivative Instruments and Securities Available for Sale Unless otherwise indicated, trading assets are priced by the trading desk and securities AFS are valued by an independent third party pricing service. Federal agency securities The Company includes in this classification securities issued by federal agencies and GSE s. Agency securities consist of debt obligations issued by HUD , FHLB , and other agencies or collateralized by loans that are guaranteed by the SBA and are, therefore, backed by the full faith and credit of the U.S. government. For SBA instruments, the Company estimated fair value based on pricing from observable trading activity for similar securities or obtained fair values from a third party pricing service. Accordingly, the Company classified these instruments as level 2. U.S. states and political subdivisions The Company ’s investments in U.S. states and political subdivisions (collectively “municipals”) include obligations of county and municipal authorities and agency bonds, which are general obligations of the municipality or are supported by a specified revenue source. Holdings were geographically dispersed, with no significant concentrations in any one state or municipality. Additionally, all AFS municipal obligations classified as level 2 are highly rated or are otherwise collateralized by securities backed by the full faith and credit of the federal government. Level 3 AFS municipal securities at September 30, 2015 and December 31, 2014 includes bonds that are only redeemable with the issuer at par and cannot be traded in the market. As such, no significant observable market data for these instruments is available; therefore these securities are priced at par. MBS – agency Agency MBS includes pass-through securities and collateralized mortgage obligations issued by GSE s and U.S. government agencies, such as Fannie Mae , Freddie Mac , and Ginnie Mae . Each security contains a guarantee by the issuing GSE or agency. For agency MBS , the Company estimated fair value based on pricing from observable trading activity for similar securities or obtained fair values from a third party pricing service; accordingly, the Company has classified these instruments as level 2. MBS – private Private MBS includes purchased interests in third party securitizations, as well as retained interests in Company -sponsored securitizations of 2006 and 2007 vintage residential mortgages (including both prime jumbo fixed rate collateral and floating rate collateral). At the time of purchase or origination, these securities had high investment grade ratings; however, through the credit crisis, they have experienced deterioration in credit quality leading to downgrades to non-investment grade levels. Generally, the Company obtains pricing for its securities from an independent pricing service. The Company evaluates third party pricing to determine the reasonableness of the information relative to changes in market data, such as any recent trades, information received from market participants and analysts, and/or changes in the underlying collateral performance. The Company continued to classify private MBS as level 3, as the Company believes that available third party pricing relies on significant unobservable assumptions, as evidenced by a persistently wide bid-ask price range and variability in pricing from the pricing services, particularly for the vintage and exposures held by the Company . Asset-Backed Securities ABS classified as securities AFS includes purchased interests in third party securitizations collateralized by home equity loans and are valued based on third party pricing with significant unobservable assumptions; thus, they are classified as level 3. Corporate and other debt securities Corporate debt securities are predominantly comprised of senior and subordinate debt obligations of domestic corporations and are classified as level 2. Other debt securities in level 3 primarily include bonds that are redeemable with the issuer at par and cannot be traded in the market; as such, observable market data for these instruments is not available. Commercial Paper From time to time, the Company acquires third party CP that is generally short-term in nature (less than 30 days) and highly rated. The Company estimates the fair value of this CP based on observable pricing from executed trades of similar instruments; thus, CP is classified as level 2. Equity securities Equity securities classified as securities AFS include FHLB of Atlanta stock and Federal Reserve Bank of Atlanta stock, which are redeemable with the issuer at cost and cannot be traded in the market. As such, observable market data for these instruments is not available and they are classified as level 3. The Company accounts for the stock based on industry guidance that requires these investments be carried at cost and evaluated for impairment based on the ultimate recovery of cost. Derivative instruments The Company holds derivative instruments for both trading and risk management purposes. Level 1 derivative instruments generally include exchange-traded futures or option contracts for which pricing is readily available. The Company ’s level 2 instruments are predominantly OTC swaps, options, and forwards, measured using observable market assumptions for interest rates, foreign exchange, equity, and credit. Because fair values for OTC contracts are not readily available, the Company estimates fair values using internal, but standard, valuation models. The selection of valuation models is driven by the type of contract: for option-based products, the Company uses an appropriate option pricing model such as Black-Scholes. For forward-based products, the Company ’s valuation methodology is generally a discounted cash flow approach. The Company 's derivative instruments classified as level 2 are primarily transacted in the institutional dealer market and priced with observable market assumptions at a mid-market valuation point, with appropriate valuation adjustments for liquidity and credit risk. To this end, the Company has evaluated liquidity premiums required by market participants, as well as the credit risk of its counterparties and its own credit. The Company has considered factors such as the likelihood of default by itself and its counterparties, its net exposures, and remaining maturities in determining the appropriate fair value adjustments to record. See Note 13 , “Derivative Financial Instruments, ” for additional information on the Company 's derivative instruments. The Company 's derivative instruments classified as level 3 include IRLC s that satisfy the criteria to be treated as derivative financial instruments. The fair value of IRLC s on residential LHFS , while based on interest rates observable in the market, is highly dependent on the ultimate closing of the loans. These “pull-through” rates are based on the Company ’s historical data and reflect the Company ’s best estimate of the likelihood that a commitment will ultimately result in a closed loan. As pull-through rates increase, the fair value of IRLC s also increases. Servicing value is included in the fair value of IRLC s, and the fair value of servicing is determined by projecting cash flows, which are then discounted to estimate an expected fair value. The fair value of servicing is impacted by a variety of factors, including prepayment assumptions, discount rates, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. Because these inputs are not transparent in market trades, IRLC s are considered to be level 3 assets. During the three and nine months ended September 30, 2015 , the Company transferred $41 million and $138 million , respectively, of net IRLC s out of level 3 as the associated loans were closed. During the three and nine months ended September 30, 2014 the Company transferred $64 million and $181 million , respectively, of net IRLC s out of level 3 as the associated loans were closed. Trading loans The Company engages in certain businesses whereby the election to measure loans at fair value for financial reporting aligns with the underlying business purpose. Specifically, the loans that are included within this classification are: (i) loans made or acquired in connection with the Company ’s TRS business, (ii) loans backed by the SBA , and (iii) the loan sales and trading business within the Company ’s Wholesale Banking segment. See Note 8 , "Certain Transfers of Financial Assets and Variable Interest Entities," and Note 13 , “Derivative Financial Instruments,” for further discussion of this business. All of these loans are classified as level 2, due to the market data that the Company uses in the estimate of fair value. The loans made in connection with the Company ’s TRS business are short-term, senior demand loans that are collateralized by cash. While these loans do not trade in the market, the Company believes that the par amount of the loans approximates fair value and no unobservable assumptions are used by the Company to value these loans. At September 30, 2015 and December 31, 2014 , the Company had outstanding $2.4 billion and $2.3 billion , respectively, of such short-term loans measured at fair value. SBA loans are similar to SBA securities discussed herein under “Federal agency securities,” except for their legal form. In both cases, the Company trades instruments that are fully guaranteed by the U.S. government as to contractual principal and interest and there is sufficient observable trading activity upon which to base the estimate of fair value. As these SBA loans are fully guaranteed, the changes in fair value are attributable to factors other than instrument-specific credit risk. The loans from the Company ’s sales and trading business are commercial and corporate leveraged loans that are either traded in the market or for which similar loans trade. The Company elected to measure these loans at fair value since they are actively traded. For both the three and nine months ended September 30, 2015 and 2014 , the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to instrument-specific credit risk. The Company is able to obtain fair value estimates for substantially all of these loans through a third party valuation service that is broadly used by market participants. While most of the loans are traded in the market, the Company does not believe that trading activity qualifies the loans as level 1 instruments, as the volume and level of trading activity is subject to variability and the loans are not exchange-traded. At September 30, 2015 and December 31, 2014 , $261 million and $284 million , respectively, of loans related to the Company ’s trading business were held in inventory. Loans Held for Sale and Loans Held for Investment Residential LHFS The Company values certain newly-originated mortgage LHFS predominantly at fair value based upon defined product criteria. The Company chooses to fair value these mortgage LHFS to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align reported results with the underlying economic changes in value of the loans and related hedge instruments. Origination fees are recognized within mortgage production related income in the Consolidated Statements of Income when earned at the time of closing. The servicing value is included in the fair value of the loan and initially recognized at the time the Company enters into IRLC s with borrowers. The Company uses derivative instruments to economically hedge changes in interest rates and the related impact on servicing value in the fair value of the loan. The mark-to-market adjustments related to LHFS and the associated economic hedges are captured in mortgage production related income. LHFS classified as level 2 are primarily agency loans which trade in active secondary markets and are priced using current market pricing for similar securities, adjusted for servicing, interest rate risk, and credit risk. Non-agency residential mortgages are also included in level 2 LHFS . Transfers of certain mortgage LHFS into level 3 during the three and nine months ended September 30, 2015 and 2014 were largely due to borrower defaults or the identification of other loan defects impacting the marketability of the loans. For residential loans that the Company has elected to measure at fair value, the Company considers the component of the fair value changes due to instrument-specific credit risk, which is intended to be an approximation of the fair value change attributable to changes in borrower-specific credit risk. For both the three and nine months ended September 30, 2015 and 2014 , the Company recognized an immaterial amount of gains/(losses) in the Consolidated Statements of Income due to changes in fair value attributable to borrower-specific credit risk. In addition to borrower-specific credit risk, there are other, more significant, variables that drive changes in the fair values of the loans, including interest rates and general conditions in the markets for the loans. LHFI LHFI classified as level 3 includes predominantly mortgage loans that are not marketable, largely due to the identification of loan defects. The Company values these loans using a discounted cash flow approach based on assumptions that are generally not observable in current markets, such as prepayment speeds, default rates, loss severity rates, and discount rates. These assumptions have an inverse relationship to the overall fair value. Level 3 LHFI also includes mortgage loans that are valued using collateral based pricing. Changes in the applicable housing price index since the time of the loan origination are considered and applied to the loan's collateral value. An additional discount representing the return that a buyer would require is also considered in the overall fair value. Mortgage Servicing Rights The Company records MSR assets at fair value using a discounted cash flow approach. The fair values of MSR s are impacted by a variety of factors, including prepayment assumptions, spreads, delinquency rates, contractually specified servicing fees, servicing costs, and underlying portfolio characteristics. The underlying assumptions and estimated values are corroborated by values received from independent third parties based on their review of the servicing portfolio, and comparisons to market transactions. Because these inputs are not transparent in market trades, MSR s are classified as level 3 assets. For additional information see Note 7 , "Goodwill and Other Intangible Assets." Liabilities Trading liabilities and derivative instruments Trading liabilities are primarily comprised of derivative contracts, but also include various contracts (primarily U.S. Treasury securities, corporate and other debt securities) that the Company uses in certain of its trading businesses. The Company employs the same valuation methodologies for these derivative contracts and securities as are discussed within the corresponding sections herein under “Trading Assets and Derivative Instruments and Securities Available for Sale.” During the second quarter of 2009, in connection with its sale of Visa Class B shares , the Company entered into a derivative contract whereby the ultimate cash payments received or paid, if any, under the contract are based on the ultimate resolution of litigation involving Visa . The value of the derivative was estimated based on the Company ’s expectations regarding the ultimate resolution of that litigation, which involved a high degree of judgment and subjectivity. Accordingly, the value of the related derivative liability is classified as a level 3 instrument. See Note 12 , "Guarantees," for a discussion of the valuation assumptions. Long-term debt The Company has elected to measure at fair value certain fixed rate debt issuances of public debt which are valued by obtaining price indications from a third party pricing service and utilizing broker quotes to corroborate the reasonableness of those marks. Additionally, information from market data of recent observable trades and indications from buy side investors, if available, are taken into consideration as additional support for the value. Due to the availability of this information, the Company determined that the appropriate classification for the debt is level 2. The election to fair value the debt was made to align the accounting for the debt with the accounting for offsetting derivative positions without having to apply hedge accounting, thus avoiding the complex and time consuming fair value hedge accounting requirements. The Company ’s public debt measured at fair value impacts earnings predominantly through changes in the Company ’s credit spreads as the Company has entered into derivative financial instruments that economically convert the interest rate on the debt from a fixed to a floating rate. The estimated earnings impact from changes in credit spreads above U.S. Treasury rates resulted in an immaterial amount of gains for the three and nine months ended September 30, 2015 , respectively, and gains of $2 million and losses of $24 million for the three and nine months ended September 30, 2014 , respectively. Other liabilities The Company ’s other liabilities that are measured at fair value on a recurring basis include contingent consideration obligations related to acquisitions. Contingent consideration associated with acquisitions is adjusted to fair value until settled. As the assumptions used to measure fair value are based on internal metrics that are not market observable, the earn-out is considered a level 3 liability. The valuation technique and range, including weighted average, of the unobserv |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | NOTE 15 – CONTINGENCIES Litigation and Regulatory Matters In the ordinary course of business, the Company and its subsidiaries are parties to numerous civil claims and lawsuits and subject to regulatory examinations, investigations, and requests for information. Some of these matters involve claims for substantial amounts. The Company ’s experience has shown that the damages alleged by plaintiffs or claimants are often overstated, based on unsubstantiated legal theories, unsupported by facts, and/or bear no relation to the ultimate award that a court might grant. Additionally, the outcome of litigation and regulatory matters and the timing of ultimate resolution are inherently difficult to predict. These factors make it difficult for the Company to provide a meaningful estimate of the range of reasonably possible outcomes of claims in the aggregate or by individual claim. However, on a case-by-case basis, reserves are established for those legal claims in which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. The Company 's financial statements at September 30, 2015 reflect the Company 's current best estimate of probable losses associated with these matters, including costs to comply with various settlement agreements, where applicable. The actual costs of resolving these claims may be substantially higher or lower than the amounts reserved. For a limited number of legal matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of related reserves, if any. Management currently estimates these losses to range from $0 to approximately $160 million . This estimated range of reasonably possible losses represents the estimated possible losses over the life of such legal matters, which may span a currently indeterminable number of years, and is based on information available at September 30, 2015 . The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those matters for which an estimate is not possible are not included within this estimated range; therefore, this estimated range does not represent the Company ’s maximum loss exposure. Based on current knowledge, it is the opinion of management that liabilities arising from legal claims in excess of the amounts currently reserved, if any, will not have a material impact on the Company ’s financial condition, results of operations, or cash flows. However, in light of the significant uncertainties involved in these matters and the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to the Company ’s financial condition, results of operations, or cash flows for any given reporting period. The following is a description of certain litigation and regulatory matters: Card Association Antitrust Litigation The Company is a defendant, along with Visa and MasterCard , as well as several other banks, in several antitrust lawsuits challenging their practices. For a discussion regarding the Company ’s involvement in this litigation matter, see Note 12 , “Guarantees.” Lehman Brothers Holdings, Inc. Litigation Beginning in October 2008, STRH , along with other underwriters and individuals, were named as defendants in several individual and putative class action complaints filed in the U.S. District Court for the Southern District of New York and state and federal courts in Arkansas, California, Texas, and Washington. Plaintiffs alleged violations of Sections 11 and 12 of the Securities Act of 1933 and/or state law for allegedly false and misleading disclosures in connection with various debt and preferred stock offerings of Lehman Brothers Holdings, Inc. ("Lehman Brothers") and sought unspecified damages. All cases were transferred for coordination to the multi-district litigation captioned In re Lehman Brothers Equity/Debt Securities Litigation pending in the U.S. District Court for the Southern District of New York. Defendants filed a motion to dismiss all claims asserted in the class action. On July 27, 2011, the District Court granted in part and denied in part the motion to dismiss the claims against STRH and the other underwriter defendants in the class action. A settlement with the class plaintiffs was approved by the Court and the class settlement approval process was completed. A number of individual lawsuits and smaller putative class actions remained following the class settlement. STRH settled two such individual actions. The other individual lawsuits were dismissed. In two of such dismissed individual actions, the plaintiffs were unable to appeal the dismissals of their claims until their claims against a third party were resolved. In one of these individual actions, the plaintiffs have filed a notice of appeal to the Second Circuit Court of Appeals. Oral argument in that appeal is expected to occur in 2016. In the other remaining action, it is unclear whether the plaintiffs will file a notice of appeal. Bickerstaff v. SunTrust Bank This case was filed in the Fulton County State Court on July 12, 2010, and an amended complaint was filed on August 9, 2010. Plaintiff asserts that all overdraft fees charged to his account which related to debit card and ATM transactions are actually interest charges and therefore subject to the usury laws of Georgia. Plaintiff has brought claims for violations of civil and criminal usury laws, conversion, and money had and received, and purports to bring the action on behalf of all Georgia citizens who incurred such overdraft fees within the four years before the complaint was filed where the overdraft fee resulted in an interest rate being charged in excess of the usury rate. SunTrust filed a motion to compel arbitration and on March 16, 2012, the Court entered an order holding that SunTrust 's arbitration provision is enforceable but that the named plaintiff in the case had opted out of that provision pursuant to its terms. The Court explicitly stated that it was not ruling at that time on the question of whether the named plaintiff could have opted out for the putative class members. SunTrust filed an appeal of this decision, but this appeal was dismissed based on a finding that the appeal was prematurely granted. On April 8, 2013, the plaintiff filed a motion for class certification and that motion was denied on February 19, 2014. Plaintiff appealed the denial of class certification and on September 8, 2015, the Georgia Supreme Court agreed to hear the appeal. Putative ERISA Class Actions Company Stock Class Action Beginning in July 2008, the Company and certain officers, directors, and employees of the Company were named in a putative class action alleging that they breached their fiduciary duties under ERISA by offering the Company 's common stock as an investment option in the SunTrust Banks, Inc. 401(k) Plan (the “Plan”). The plaintiffs purport to represent all current and former Plan participants who held the Company stock in their Plan accounts from May 2007 to the present and seek to recover alleged losses these participants supposedly incurred as a result of their investment in Company stock. This case was originally filed in the U.S. District Court for the Southern District of Florida but was transferred to the U.S. District Court for the Northern District of Georgia, Atlanta Division, (the “District Court”) in November 2008. On October 26, 2009, an amended complaint was filed. On December 9, 2009, defendants filed a motion to dismiss the amended complaint. On October 25, 2010, the District Court granted in part and denied in part defendants' motion to dismiss the amended complaint. On April 14, 2011, the U.S. Court of Appeals for the Eleventh Circuit (“the Circuit Court”) granted defendants and plaintiffs permission to pursue interlocutory review in separate appeals. The Circuit Court subsequently stayed these appeals pending decision of a separate appeal involving The Home Depot in which substantially similar issues are presented. On May 8, 2012, the Circuit Court decided this appeal in favor of The Home Depot. On March 5, 2013, the Circuit Court issued an order remanding the case to the District Court for further proceedings in light of its decision in The Home Depot case. On September 26, 2013, the District Court granted the defendants' motion to dismiss plaintiffs' claims. Plaintiffs filed an appeal of this decision in the Circuit Court. Subsequent to the filing of this appeal, the U.S. Supreme Court decided Fifth Third Bancorp v. Dudenhoeffer, which held that employee stock ownership plan fiduciaries receive no presumption of prudence with respect to employer stock plans. The Eleventh Circuit remanded the case back to the District Court for further proceedings in light of Dudenhoeffer . On June 18, 2015, the Court entered an order granting in part and denying in part the Company ’s motion to dismiss. The discovery process has begun. Mutual Funds Class Actions On March 11, 2011, the Company and certain officers, directors, and employees of the Company were named in a putative class action alleging that they breached their fiduciary duties under ERISA by offering certain STI Classic Mutual Funds as investment options in the Plan. The plaintiffs purport to represent all current and former Plan participants who held the STI Classic Mutual Funds in their Plan accounts from April 2002 through December 2010 and seek to recover alleged losses these Plan participants supposedly incurred as a result of their investment in the STI Classic Mutual Funds. This action is pending in the U.S. District Court for the Northern District of Georgia, Atlanta Division (the “District Court”). On June 6, 2011, plaintiffs filed an amended complaint, and, on June 20, 2011, defendants filed a motion to dismiss the amended complaint. On March 12, 2012, the Court granted in part and denied in part the motion to dismiss. The Company filed a subsequent motion to dismiss the remainder of the case on the ground that the Court lacked subject matter jurisdiction over the remaining claims. On October 30, 2012, the Court dismissed all claims in this action. Immediately thereafter, plaintiffs' counsel initiated a substantially similar lawsuit against the Company naming two new plaintiffs and also filed an appeal of the dismissal with the U.S. Court of Appeals for the Eleventh Circuit. SunTrust filed a motion to dismiss in the new action and this motion was granted. On February 26, 2014, the U.S. Court of Appeals for the Eleventh Circuit upheld the District Court's dismissal. On March 18, 2014, the plaintiffs' counsel filed a motion for reconsideration with the Eleventh Circuit. On August 26, 2014, plaintiffs in the original action filed a Motion for Consolidation of Appeals requesting that the Court consider this appeal jointly with the appeal in the second action. This motion was granted on October 9, 2014 and plaintiffs filed their consolidated appeal on December 16, 2014. On June 27, 2014, the Company and certain current and former officers, directors, and employees of the Company were named in another putative class action alleging breach of fiduciary duties associated with the inclusion of STI Classic Mutual Funds as investment options in the Plan. This case, Brown, et al. v. SunTrust Banks, Inc., et al., was filed in the U.S. District Court for the District of Columbia. On September 3, 2014, the U.S. District Court for the District of Columbia issued an order transferring the case to the U.S. District Court for the Northern District of Georgia. On November 12, 2014, the Court granted plaintiffs’ motion to stay this case until the U.S. Supreme Court issues a decision in Tibble v. Eidson International . On May 18, 2015, the U.S. Supreme Court decided Tibble and held that plan fiduciaries have a duty, separate and apart from investment selection, to monitor and remove imprudent investments. After Tibble , the cases pending on appeal were remanded to the District Court . Intellectual Ventures II v. SunTrust Banks, Inc. and SunTrust Bank This action was filed in the U.S. District Court for the Northern District of Georgia on July 24, 2013. Plaintiff alleges that SunTrust violates one or more of several patents held by plaintiff in connection with SunTrust ’s provision of online banking services and other systems and services. Plaintiff seeks damages for alleged patent infringement of an unspecified amount, as well as attorney’s fees and expenses. The matter was stayed on October 7, 2014 pending inter partes review of a number of the claims asserted against SunTrust . Consent Order with the Federal Reserve On April 13, 2011, SunTrust , SunTrust Bank, and STM entered into a Consent Order with the FRB in which SunTrust , SunTrust Bank, and STM agreed to strengthen oversight of, and improve risk management, internal audit, and compliance programs concerning the residential mortgage loan servicing, loss mitigation, and foreclosure activities of STM . SunTrust continues its engagement with the FRB to demonstrate compliance with its commitments under the Consent Order. On July 25, 2014, the FRB imposed a $160 million civil money penalty as a result of the FRB ’s review of the Company ’s residential mortgage loan servicing and foreclosure processing practices that preceded the Consent Order. The Company expects to satisfy the entirety of this assessed penalty by providing consumer relief and certain cash payments as contemplated by the settlement with the U.S. and the States Attorneys' General regarding certain mortgage servicing claims, discussed below at “United States Mortgage Servicing Settlement.” United States Mortgage Servicing Settlement In the second quarter of 2014, STM and the U.S. , through the DOJ , HUD , and Attorneys General for several states reached a final settlement agreement related to the National Mortgage Servicing Settlement. The settlement agreement became effective on September 30, 2014 when the court entered the Consent Judgment. Pursuant to the settlements, STM made $50 million in cash payments and committed to provide $500 million of consumer relief by the fourth quarter of 2017 and to implement certain mortgage servicing standards. While subject to confirmation by the independent Office of Mortgage Settlement Oversight (“OMSO”) appointed to review and certify compliance with the provisions of the settlement, through September 30, 2015, the Company believes it has substantially fulfilled its consumer relief commitments. STM also implemented all of the prescribed servicing standards within the required timeframes. Compliance with the servicing standards continues to be monitored, tested, and reported quarterly by an internal review group and semi-annually by the OMSO. As a result, the Company does not expect to incur additional costs in satisfying its consumer relief obligations or implementation of the servicing standards associated with the settlement. DOJ Investigation of GSE Loan Origination Practices In January 2014, STM received notice from the DOJ of an investigation regarding the origination and underwriting of single family residential mortgage loans sold by STM to Fannie Mae and Freddie Mac . The DOJ and STM have not yet engaged in any material dialogue about how this matter may proceed and no allegations have been raised against STM . STM continues to cooperate with the investigation. Mortgage Modification Investigation In the third quarter of 2014, STM resolved claims by the United States Attorney’s Office for the Western District of Virginia and the Office of the Special Inspector General for the Troubled Asset Relief Program relating to STM 's administration of HAMP . Pursuant to the settlement, SunTrust paid $46 million , including $20 million to fund housing counseling for homeowners, $10 million in restitution to Fannie Mae and Freddie Mac , and $16 million to the U.S. Treasury , and transferred its minimum consumer remediation obligation of $179 million (which may increase to a maximum of $274 million ) to the required deposit account to be controlled by a third party claims administrator. STM continues to cooperate with the government and the claims administrator regarding administration of the consumer remediation payment process, which currently is expected to resolve in early 2016. The Company incurred a $204 million pre-tax charge in the second quarter of 2014 in connection with this matter, which included its estimate of the consumer remediation obligation. Residential Funding Company, LLC v. SunTrust Mortgage, Inc. STM has been named as a defendant in a complaint filed December 17, 2013 in the Southern District of New York by Residential Funding Company, LLC ("RFC"), a Chapter 11 debtor-affiliate of GMAC Mortgage, LLC, alleging breaches of representations and warranties made in connection with loan sales and seeking indemnification against losses allegedly suffered by RFC as a result of such alleged breaches. The case was transferred to the United States Bankruptcy Court for the Southern District of New York. The litigation remains active in the Bankruptcy Court and discovery has commenced. SunTrust Mortgage Reinsurance Class Actions STM and Twin Rivers Insurance Company ("Twin Rivers") have been named as defendants in two putative class actions alleging that the companies entered into illegal “captive reinsurance” arrangements with private mortgage insurers. More specifically, plaintiffs allege that SunTrust ’s selection of private mortgage insurers who agree to reinsure with Twin Rivers certain loans referred to them by SunTrust results in illegal “kickbacks” in the form of the insurance premiums paid to Twin Rivers. Plaintiffs contend that this arrangement violates the Real Estate Settlement Procedures Act (“RESPA”) and results in unjust enrichment to the detriment of borrowers. The first of these cases, Thurmond, Christopher, et al. v. SunTrust Banks, Inc. et al. , was filed in February 2011 in the U.S. District Court for the Eastern District of Pennsylvania. This case was stayed by the Court pending the outcome of Edwards v. First American Financial Corporation , a captive reinsurance case that was pending before the U.S. Supreme Court at the time. The second of these cases, Acosta, Lemuel & Maria Ventrella et al. v. SunTrust Bank, SunTrust Mortgage, Inc., et al., was filed in the U.S. District Court for the Central District of California in December 2011. This case was stayed pending a decision in the Edwards case also. In June 2012, the U.S. Supreme Court withdrew its grant of certiorari in Edwards and, as a result, the stays in these cases were lifted. SunTrust has filed a motion to dismiss the Thurmond case which was granted in part and denied in part, allowing limited discovery surrounding the argument that the statute of limitations for certain claims should be equitably tolled. Thurmond has been stayed pending a ruling in a similar case currently before the Third Circuit. The Acosta plaintiffs have voluntarily dismissed their case. United States Attorney’s Office for the Southern District of New York Foreclosure Expense Investigation STM has been cooperating with the United States Attorney's Office for the Southern District of New York (the "Southern District") in a broad-based industry investigation regarding claims for foreclosure-related expenses charged by law firms in connection with the foreclosure of loans guaranteed or insured by Fannie Mae , Freddie Mac , or FHA . The investigation relates to a private litigant qui tam lawsuit filed under seal and remains in early stages. The Southern District has not yet advised STM how it will proceed in this matter. The Southern District and STM engaged in dialogue regarding potential resolution of this matter as part of the National Mortgage Servicing Settlement, but were unable to reach agreement. |
Business Segment Reporting
Business Segment Reporting | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | NOTE 16 - BUSINESS SEGMENT REPORTING The Company measures business activity across three segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking, with functional activities included in Corporate Other. The business segments are determined based on the products and services provided or the type of client served, and they reflect the manner in which financial information is evaluated by management. The following is a description of the segments and their composition. The Consumer Banking and Private Wealth Management segment is made up of two primary businesses: Consumer Banking and Private Wealth Management. • Consumer Banking provides services to consumers and branch-managed small business clients through an extensive network of traditional and in-store branches, ATM s, the internet ( www.suntrust.com ), mobile banking, and telephone (1-800-SUNTRUST). Financial products and services offered to consumers and small business clients include deposits, home equity lines and loans, credit lines, indirect auto, student lending, bank card, other lending products, and various fee-based services. Consumer Banking also serves as an entry point for clients and provides services for other lines of business. • PWM provides a full array of wealth management products and professional services to both individual and institutional clients including loans, deposits, brokerage, professional investment management, and trust services to clients seeking active management of their financial resources. Institutional clients are served by the Institutional Investment Solutions business. Discount/online and full-service brokerage products are offered to individual clients through STIS . PWM also includes GenSpring , which provides family office solutions to ultra-high net worth individuals and their families. Utilizing teams of multi-disciplinary specialists with expertise in investments, tax, accounting, estate planning, and other wealth management disciplines, GenSpring helps families manage and sustain wealth across multiple generations. The Wholesale Banking segment includes the following four businesses: • CIB delivers comprehensive capital markets solutions, including advisory, capital raising, and financial risk management, with the goal of serving the needs of both public and private companies in the Wholesale Banking segment and PWM business. Investment Banking and Corporate Banking teams within CIB serve clients across the nation, offering a full suite of traditional banking and investment banking products and services to companies with annual revenues typically greater than $150 million. Investment Banking serves select industry segments including consumer and retail, energy, financial services, healthcare, industrials, media and communications, real estate, and technology. Corporate Banking serves clients across diversified industry sectors based on size, complexity, and frequency of capital markets issuance. Also managed within CIB is the Equipment Finance Group, which provides lease financing solutions (through SunTrust Equipment Finance & Leasing). • Commercial & Business Banking offers an array of traditional banking products, including cash management services and investment banking solutions via STRH to commercial clients (generally those with average revenues $1 million to $150 million), not-for-profit organizations, and governmental entities, as well as auto dealer financing (floor plan inventory financing). Also managed within Commercial & Business Banking is the Premium Assignment Corporation, which creates corporate insurance premium financing solutions. • Commercial Real Estate provides a full range of financial solutions for commercial real estate developers, owners, and investors, including construction, mini-perm, and permanent real estate financing as well as tailored financing and equity investment solutions via STRH , primarily through the REIT group focused on Real Estate Investment Trusts. The Institutional Real Estate team targets relationships with institutional advisors, private funds, and insurance companies and the Regional team focuses on real estate owners and developers through a regional delivery structure. Commercial Real Estate also offers tailored financing and equity investment solutions for community development and affordable housing projects through STCC , with particular expertise in Low Income Housing Tax Credits and New Market Tax Credits. • Treasury & Payment Solutions provides all SunTrust business clients with services required to manage their payments and receipts, combined with the ability to manage and optimize their deposits across all aspects of their business. Treasury & Payment Solutions operates all electronic and paper payment types, including card, wire transfer, ACH , check, and cash. It also provides clients the means to manage their accounts electronically online, both domestically and internationally. Mortgage Banking offers residential mortgage products nationally through its retail and correspondent channels, as well as via the internet ( www.suntrust.com ) and by telephone (1-800-SUNTRUST). These products are either sold in the secondary market, primarily with servicing rights retained, or held in the Company ’s loan portfolio. Mortgage Banking also services loans for itself and for other investors. Corporate Other includes management of the Company ’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and most real estate assets. Additionally, it includes Enterprise Information Services, which is the primary information technology and operations group; Corporate Real Estate, Marketing, SunTrust Online, Human Resources, Finance, Corporate Risk Management, Legal and Compliance, Communications, Procurement, and Executive Management. The financial results of RidgeWorth , including the gain on sale, are reflected in the Corporate Other segment for the nine months ended September 30, 2014. Prior to the sale of RidgeWorth in the second quarter of 2014, RidgeWorth 's financial performance was reported in the Wholesale Banking segment. Because the business segment results are presented based on management accounting practices, the transition to the consolidated results, which are prepared under U.S. GAAP , creates certain differences which are reflected in Reconciling Items. Business segment reporting conventions are described below. • Net interest income – Net interest income is presented on an FTE basis to make income from tax-exempt assets comparable to other taxable products. The segment results reflect matched maturity funds transfer pricing, which ascribes credits or charges based on the economic value or cost created by the assets and liabilities of each segment. The mismatch between funds credits and funds charges at the segment level resides in Reconciling Items. The change in this mismatch is generally attributable to corporate balance sheet management strategies. • Provision/(benefit) for credit losses – Represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to each segment's quarterly change in the ALLL and unfunded commitment reserve balances. • Provision/(benefit) for income taxes – Calculated using a blended income tax rate for each segment. This calculation includes the impact of various adjustments, such as the reversal of the FTE gross up on tax-exempt assets, tax adjustments, and credits that are unique to each segment. The difference between the calculated provision/(benefit) for income taxes at the segment level and the consolidated provision/(benefit) for income taxes is reported in Reconciling Items. The segment’s financial performance is comprised of direct financial results, as well as various allocations that for internal management reporting purposes provide an enhanced view of the segment’s financial performance. The internal allocations include the following: • Operational costs – Expenses are charged to the segments based on various statistical volumes multiplied by activity based cost rates. As a result of the activity based costing process, residual expenses are also allocated to the segments. The recoveries for the majority of these costs are reported in Corporate Other. • Support and overhead costs – Expenses not directly attributable to a specific segment are allocated based on various drivers (e.g., number of equivalent employees, number of PCs/Laptops, and net revenue). The recoveries for these allocations are reported in Corporate Other. • Sales and referral credits – Segments may compensate another segment for referring or selling certain products. The majority of the revenue resides in the segment where the product is ultimately managed. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. The implementation of these enhancements to the internal management reporting methodology may materially affect the results disclosed for each segment, with no impact on consolidated results. Whenever significant changes to management reporting methodologies take place, the impact of these changes is quantified and prior period information is reclassified wherever practicable. Three Months Ended September 30, 2015 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $40,206 $67,274 $25,299 $70 ($12 ) $132,837 Average consumer and commercial deposits 91,016 51,237 2,918 84 (29 ) 145,226 Average total assets 45,874 80,097 29,280 29,878 3,212 188,341 Average total liabilities 91,671 56,611 3,290 13,397 (12 ) 164,957 Average total equity — — — — 23,384 23,384 Statements of Income: Net interest income $688 $447 $123 $40 ($87 ) $1,211 FTE adjustment — 35 — 1 — 36 Net interest income - FTE 1 688 482 123 41 (87 ) 1,247 Provision/(benefit) for credit losses 2 22 47 (38 ) — 1 32 Net interest income after provision/(benefit) for credit losses - FTE 666 435 161 41 (88 ) 1,215 Total noninterest income 384 293 109 29 (4 ) 811 Total noninterest expense 720 388 154 6 (4 ) 1,264 Income before provision for income taxes - FTE 330 340 116 64 (88 ) 762 Provision for income taxes - FTE 3 123 109 11 22 (42 ) 223 Net income including income attributable to noncontrolling interest 207 231 105 42 (46 ) 539 Net income attributable to noncontrolling interest — — — 2 — 2 Net income $207 $231 $105 $40 ($46 ) $537 Three Months Ended September 30, 2014 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $41,904 $63,542 $25,261 $46 ($6 ) $130,747 Average consumer and commercial deposits 86,194 43,319 2,664 83 (65 ) 132,195 Average total assets 47,586 75,156 30,447 27,326 2,918 183,433 Average total liabilities 86,888 49,955 3,085 21,356 (42 ) 161,242 Average total equity — — — — 22,191 22,191 Statements of Income/(Loss): Net interest income $666 $419 $148 $70 ($88 ) $1,215 FTE adjustment — 34 — 1 1 36 Net interest income - FTE 1 666 453 148 71 (87 ) 1,251 Provision for credit losses 2 40 9 44 — — 93 Net interest income after provision for credit losses - FTE 626 444 104 71 (87 ) 1,158 Total noninterest income 399 241 130 14 (4 ) 780 Total noninterest expense 720 367 166 12 (6 ) 1,259 Income before provision/(benefit) for income taxes - FTE 305 318 68 73 (85 ) 679 Provision/(benefit) for income taxes - FTE 3 112 94 25 (108 ) (20 ) 103 Net income including income attributable to noncontrolling interest 193 224 43 181 (65 ) 576 Net income attributable to noncontrolling interest — — — — — — Net income $193 $224 $43 $181 ($65 ) $576 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. Nine Months Ended September 30, 2015 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $40,556 $67,547 $24,847 $59 ($9 ) $133,000 Average consumer and commercial deposits 90,935 49,147 2,754 85 (52 ) 142,869 Average total assets 46,493 80,777 28,595 29,469 3,301 188,635 Average total liabilities 91,578 54,826 3,139 15,894 (68 ) 165,369 Average total equity — — — — 23,266 23,266 Statements of Income: Net interest income $2,029 $1,321 $366 $103 ($301 ) $3,518 FTE adjustment — 103 — 2 2 107 Net interest income - FTE 1 2,029 1,424 366 105 (299 ) 3,625 Provision/(benefit) for credit losses 2 101 73 (61 ) — 1 114 Net interest income after provision/(benefit) for credit losses - FTE 1,928 1,351 427 105 (300 ) 3,511 Total noninterest income 1,136 949 346 84 (12 ) 2,503 Total noninterest expense 2,167 1,189 511 18 (13 ) 3,872 Income before provision for income taxes - FTE 897 1,111 262 171 (299 ) 2,142 Provision for income taxes - FTE 3 334 371 45 61 (125 ) 686 Net income including income attributable to noncontrolling interest 563 740 217 110 (174 ) 1,456 Net income attributable to noncontrolling interest — — — 7 — 7 Net income $563 $740 $217 $103 ($174 ) $1,449 Nine Months Ended September 30, 2014 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $41,564 $61,297 $27,106 $50 ($7 ) $130,010 Average consumer and commercial deposits 85,190 42,899 2,260 85 (65 ) 130,369 Average total assets 47,244 72,646 31,078 26,313 2,817 180,098 Average total liabilities 85,931 49,594 2,763 19,869 (31 ) 158,126 Average total equity — — — — 21,972 21,972 Statements of Income/(Loss): Net interest income $1,957 $1,220 $422 $220 ($190 ) $3,629 FTE adjustment — 102 — 2 1 105 Net interest income - FTE 1 1,957 1,322 422 222 (189 ) 3,734 Provision for credit losses 2 135 39 94 — — 268 Net interest income after provision for credit losses - FTE 1,822 1,283 328 222 (189 ) 3,466 Total noninterest income 1,141 828 350 222 (13 ) 2,528 Total noninterest expense 2,154 1,180 717 95 (12 ) 4,134 Income/(loss) before provision/(benefit) for income taxes - FTE 809 931 (39 ) 349 (190 ) 1,860 Provision/(benefit) for income taxes - FTE 3 297 296 (16 ) (41 ) (67 ) 469 Net income/(loss) including income attributable to noncontrolling interest 512 635 (23 ) 390 (123 ) 1,391 Net income attributable to noncontrolling interest — — — 11 — 11 Net income/(loss) $512 $635 ($23 ) $379 ($123 ) $1,380 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income | NOTE 17 - ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME Components of AOCI , net of tax, were calculated as follows: (Dollars in millions) Securities AFS Derivative Instruments Employee Benefit Plans Total Three Months Ended September 30, 2015 Balance, beginning of period $183 $107 ($584 ) ($294 ) Net unrealized gains arising during the period 123 128 — 251 Amounts reclassified from AOCI (4 ) (44 ) 3 (45 ) Other comprehensive income, net of tax 119 84 3 206 Balance, end of period $302 $191 ($581 ) ($88 ) Three Months Ended September 30, 2014 Balance, beginning of period $206 $193 ($458 ) ($59 ) Net unrealized losses arising during the period (43 ) (19 ) — (62 ) Amounts reclassified from AOCI 6 (63 ) 1 (56 ) Other comprehensive (loss)/income, net of tax (37 ) (82 ) 1 (118 ) Balance, end of period $169 $111 ($457 ) ($177 ) Nine Months Ended September 30, 2015 Balance, beginning of period $298 $97 ($517 ) ($122 ) Net unrealized gains arising during the period 17 212 — 229 Amounts reclassified from AOCI (13 ) (118 ) (64 ) (195 ) Other comprehensive income/(loss), net of tax 4 94 (64 ) 34 Balance, end of period $302 $191 ($581 ) ($88 ) Nine Months Ended September 30, 2014 Balance, beginning of period ($77 ) $279 ($491 ) ($289 ) Net unrealized gains arising during the period 239 23 — 262 Amounts reclassified from AOCI 7 (191 ) 34 (150 ) Other comprehensive income/(loss), net of tax 246 (168 ) 34 112 Balance, end of period $169 $111 ($457 ) ($177 ) Reclassifications from AOCI , and the related tax effects, were as follows: (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Affected Line Item in the Statement Where Net Income is Presented Details About AOCI Components 2015 2014 2015 2014 Securities AFS: Realized (gains)/losses on securities AFS ($7 ) $9 ($21 ) $11 Net securities gains/(losses) Tax effect 3 (3 ) 8 (4 ) Provision for income taxes (4 ) 6 (13 ) 7 Derivative Instruments: Realized gains on cash flow hedges (70 ) (99 ) (187 ) (302 ) Interest and fees on loans Tax effect 26 36 69 111 Provision for income taxes (44 ) (63 ) (118 ) (191 ) Employee Benefit Plans: Amortization of prior service credit (1 ) (2 ) (4 ) (4 ) Employee benefits Amortization of actuarial loss 5 4 16 12 Employee benefits Adjustment to funded status of employee benefit obligation — — (120 ) 46 Other assets/other liabilities 4 2 (108 ) 54 Tax effect (1 ) (1 ) 44 (20 ) Provision for income taxes 3 1 (64 ) 34 Total reclassifications from AOCI ($45 ) ($56 ) ($195 ) ($150 ) |
Significant Accounting Polici27
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | Pending Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company 's financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Standards Not Yet Adopted ASU 2014-09, Revenue from Contracts with Customers The ASU supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. The core principle of the ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU may be adopted either retrospectively or on a modified retrospective basis to new contracts and existing contracts with remaining performance obligations as of the effective date. January 1, 2018 (early adoption permitted beginning January 1, 2017) The Company is continuing to evaluate the alternative methods of adoption and the anticipated effects on the financial statements and related disclosures. ASU 2015-02, Amendments to the Consolidation Analysis The ASU rescinds the indefinite deferral of previous amendments to ASC Topic 810 for certain entities and amends components of the consolidation analysis under ASC Topic 810, including evaluating limited partnerships and similar legal entities, evaluating fees paid to a decision maker or service provider as a variable interest, the effects of fee arrangements and/or related parties on the primary beneficiary determination and investment fund specific matters. The ASU may be adopted either retrospectively or on a modified retrospective basis. January 1, 2016 The Company will adopt this ASU on a modified retrospective basis. The Company is continuing to evaluate the impact of this ASU on the financial statements and related disclosures; however, adoption is not expected to materially impact the Company's financial position, results of operations, or EPS. |
Federal Funds Sold and Securi28
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Securities Purchased under Agreements to Resell [Abstract] | |
Schedule of Resale Agreements [Table Text Block] | (Dollars in millions) September 30, 2015 December 31, 2014 Fed funds sold $55 $38 Securities borrowed 221 290 Securities purchased under agreements to resell 829 832 Total Fed funds sold and securities borrowed or purchased under agreements to resell $1,105 $1,160 |
Securities sold under agreements to repurchase remaining contractual maturity [Table Text Block] | September 30, 2015 December 31, 2014 (Dollars in millions) Overnight and Continuous Overnight and Continuous Up to 30 days Total U.S. Treasury securities $84 $376 $— $376 Federal agency securities 223 231 — 231 MBS - agency 868 1,059 45 1,104 CP 37 238 — 238 Corporate and other debt securities 324 327 — 327 Total securities sold under agreements to repurchase $1,536 $2,231 $45 $2,276 |
Netting of Financial Instruments - Repurchase Agreements [Table Text Block] | (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2015 Financial assets: Securities borrowed or purchased under agreements to resell $1,050 $— $1,050 1 $1,043 $7 Financial liabilities: Securities sold under agreements to repurchase 1,536 — 1,536 1,536 — December 31, 2014 Financial assets: Securities borrowed or purchased under agreements to resell $1,122 $— $1,122 1 $1,112 $10 Financial liabilities: Securities sold under agreements to repurchase 2,276 — 2,276 2,276 — 1 Excludes $55 million and $38 million of Fed funds sold, which are not subject to a master netting agreement at September 30, 2015 and December 31, 2014 , respectively. |
Trading Assets and Liabilitie29
Trading Assets and Liabilities and Derivatives(Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Trading Assets and Liabilities and Derivatives [Abstract] | |
Trading Securities (and Certain Trading Assets) [Table Text Block] | (Dollars in millions) September 30, 2015 December 31, 2014 Trading Assets and Derivative Instruments: U.S. Treasury securities $443 $267 Federal agency securities 532 547 U.S. states and political subdivisions 40 42 MBS - agency 565 545 CLO securities 2 3 Corporate and other debt securities 390 509 CP 312 327 Equity securities 65 45 Derivative instruments 1 1,449 1,307 Trading loans 2 2,739 2,610 Total trading assets and derivative instruments $6,537 $6,202 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $584 $485 MBS - agency 4 1 Corporate and other debt securities 177 279 Derivative instruments 1 565 462 Total trading liabilities and derivative instruments $1,330 $1,227 1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes loans related to TRS . |
Trading Assets and Liabilities and Derivatives [Text Block] | NOTE 3 - TRADING ASSETS AND LIABILITIES AND DERIVATIVE INSTRUMENTS The fair values of the components of trading assets and liabilities and derivative instruments were as follows: (Dollars in millions) September 30, 2015 December 31, 2014 Trading Assets and Derivative Instruments: U.S. Treasury securities $443 $267 Federal agency securities 532 547 U.S. states and political subdivisions 40 42 MBS - agency 565 545 CLO securities 2 3 Corporate and other debt securities 390 509 CP 312 327 Equity securities 65 45 Derivative instruments 1 1,449 1,307 Trading loans 2 2,739 2,610 Total trading assets and derivative instruments $6,537 $6,202 Trading Liabilities and Derivative Instruments: U.S. Treasury securities $584 $485 MBS - agency 4 1 Corporate and other debt securities 177 279 Derivative instruments 1 565 462 Total trading liabilities and derivative instruments $1,330 $1,227 1 Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes loans related to TRS . Various trading products and derivative instruments are used as part of the Company ’s overall balance sheet management strategies and to support client requirements executed through the Bank and/or its broker/dealer subsidiary. The Company manages the potential market volatility associated with trading instruments with appropriate risk management strategies. The size, volume, and nature of the trading products and derivative instruments can vary based on economic conditions as well as client-specific and Company -specific asset or liability positions. Product offerings to clients include debt securities, loans traded in the secondary market, equity securities, derivative contracts, and other similar financial instruments. Other trading-related activities include acting as a market maker for certain debt and equity security transactions and derivative instrument transactions. The Company also uses derivatives to manage its interest rate and market risk from non-trading activities. The Company has policies and procedures to manage market risk associated with client trading and non-trading activities, and assumes a limited degree of market risk by managing the size and nature of its exposure. The Company has pledged $857 million and $1.1 billion of trading securities to secure $825 million and $1.1 billion of repurchase agreements at September 30, 2015 and December 31, 2014 , respectively. Additionally, the Company has pledged $298 million and $202 million of trading securities to secure certain derivative agreements at September 30, 2015 and December 31, 2014 , respectively, and has pledged $40 million of trading securities under other arrangements at both September 30, 2015 and December 31, 2014 . |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |
Securities Portfolio Composition | September 30, 2015 (Dollars in millions) Amortized Unrealized Unrealized Fair U.S. Treasury securities $3,020 $45 $— $3,065 Federal agency securities 408 13 1 420 U.S. states and political subdivisions 167 7 — 174 MBS - agency 22,452 511 58 22,905 MBS - private 100 2 — 102 ABS 13 2 — 15 Corporate and other debt securities 36 2 — 38 Other equity securities 1 551 1 1 551 Total securities AFS $26,747 $583 $60 $27,270 December 31, 2014 (Dollars in millions) Amortized Unrealized Unrealized Fair U.S. Treasury securities $1,913 $9 $1 $1,921 Federal agency securities 471 15 2 484 U.S. states and political subdivisions 200 9 — 209 MBS - agency 22,573 558 83 23,048 MBS - private 122 2 1 123 ABS 19 2 — 21 Corporate and other debt securities 38 3 — 41 Other equity securities 1 921 2 — 923 Total securities AFS $26,257 $600 $87 $26,770 1 At September 30, 2015 , the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $111 million of mutual fund investments, and $6 million of other. At December 31, 2014 , the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million of mutual fund investments, and $7 million of other. |
Investment Income [Table Text Block] | Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Taxable interest $143 $142 $397 $421 Tax-exempt interest 2 2 5 8 Dividends 8 9 28 27 Total interest and dividends $153 $153 $430 $456 |
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life | Distribution of Maturities (Dollars in millions) 1 Year or Less 1-5 Years 5-10 Years After 10 Years Total Amortized Cost: U.S. Treasury securities $25 $921 $2,074 $— $3,020 Federal agency securities 159 109 14 126 408 U.S. states and political subdivisions 38 13 101 15 167 MBS - agency 2,462 11,098 3,756 5,136 22,452 MBS - private 3 89 8 — 100 ABS — 12 1 — 13 Corporate and other debt securities — 36 — — 36 Total debt securities AFS $2,687 $12,278 $5,954 $5,277 $26,196 Fair Value: U.S. Treasury securities $25 $931 $2,109 $— $3,065 Federal agency securities 163 116 14 127 420 U.S. states and political subdivisions 39 13 106 16 174 MBS - agency 2,605 11,391 3,772 5,137 22,905 MBS - private 3 91 8 — 102 ABS — 13 2 — 15 Corporate and other debt securities — 38 — — 38 Total debt securities AFS $2,835 $12,593 $6,011 $5,280 $26,719 Weighted average yield 1 2.35 % 2.41 % 2.57 % 2.80 % 2.52 % 1 Weighted average yields are based on amortized cost and presented on an FTE basis. |
Securities in a Continuous Unrealized Loss Position | September 30, 2015 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Unrealized 2 Fair Unrealized 2 Fair Unrealized 2 Temporarily impaired securities AFS: Federal agency securities $33 $— $35 $1 $68 $1 MBS - agency 3,996 35 982 23 4,978 58 ABS — — 9 — 9 — Other equity securities 4 1 — — 4 1 Total temporarily impaired securities AFS 4,033 36 1,026 24 5,059 60 OTTI securities AFS 1 : Total OTTI securities AFS — — — — — — Total impaired securities AFS $4,033 $36 $1,026 $24 $5,059 $60 December 31, 2014 Less than twelve months Twelve months or longer Total (Dollars in millions) Fair Value Unrealized Losses 2 Fair Value Unrealized 2 Fair Value Unrealized Losses 2 Temporarily impaired securities AFS: U.S. Treasury securities $150 $1 $— $— $150 $1 Federal agency securities 20 — 132 2 152 2 MBS - agency 2,347 6 4,911 77 7,258 83 ABS — — 14 — 14 — Total temporarily impaired securities AFS 2,517 7 5,057 79 7,574 86 OTTI securities AFS 1 : MBS - private 69 1 — — 69 1 Total OTTI securities AFS 69 1 — — 69 1 Total impaired securities AFS $2,586 $8 $5,057 $79 $7,643 $87 1 Includes OTTI securities AFS for which credit losses have been recorded in earnings in current or prior periods. 2 Unrealized losses less than $0.5 million are presented as zero within the table. |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Concentration Risk, Credit Risk, Loan Products | (Dollars in millions) September 30, 2015 December 31, 2014 Interest only mortgages with MI or with combined original LTV ≤ 80% 1 $1,892 $3,180 Interest only mortgages with no MI and with combined original LTV > 80% 1 620 873 Total interest only mortgages 1 2,512 4,053 Amortizing mortgages with combined original LTV > 80% and/or second liens 2 8,154 7,368 Total mortgages with potential concentration of credit risk $10,666 $11,421 1 Comprised of first and/or second liens, primarily with an initial 10 year interest only period. 2 Comprised of loans with no MI . |
Composition of Loan Portfolio | (Dollars in millions) September 30, December 31, 2014 Commercial loans: C&I $65,371 $65,440 CRE 6,168 6,741 Commercial construction 1,763 1,211 Total commercial loans 73,302 73,392 Residential loans: Residential mortgages - guaranteed 627 632 Residential mortgages - nonguaranteed 1 24,351 23,443 Home equity products 13,416 14,264 Residential construction 394 436 Total residential loans 38,788 38,775 Consumer loans: Guaranteed student 4,588 4,827 Other direct 5,771 4,573 Indirect 10,119 10,644 Credit cards 992 901 Total consumer loans 21,470 20,945 LHFI $133,560 $133,112 LHFS 2 $2,032 $3,232 1 Includes $262 million and $272 million of LHFI measured at fair value at September 30, 2015 and December 31, 2014 , respectively. 2 Includes $1.9 billion of LHFS measured at fair value at both September 30, 2015 and December 31, 2014 . |
LHFI by Credit Quality Indicator | Commercial Loans C&I CRE Commercial Construction (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Risk rating: Pass $63,826 $64,228 $6,033 $6,586 $1,739 $1,196 Criticized accruing 1,423 1,061 120 134 23 14 Criticized nonaccruing 122 151 15 21 1 1 Total $65,371 $65,440 $6,168 $6,741 $1,763 $1,211 Residential Loans 1 Residential Mortgages - Nonguaranteed Home Equity Products Residential Construction (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Current FICO score range: 700 and above $19,936 $18,780 $10,897 $11,475 $321 $347 620 - 699 3,330 3,369 1,827 1,991 59 70 Below 620 2 1,085 1,294 692 798 14 19 Total $24,351 $23,443 $13,416 $14,264 $394 $436 Consumer Loans 3 Other Direct Indirect Credit Cards (Dollars in millions) September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Current FICO score range: 700 and above $5,180 $4,023 $7,053 $7,661 $690 $639 620 - 699 536 476 2,426 2,335 245 212 Below 620 2 55 74 640 648 57 50 Total $5,771 $4,573 $10,119 $10,644 $992 $901 1 Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014 , respectively. 2 For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. 3 Excludes $4.6 billion and $4.8 billion of guaranteed student loans at September 30, 2015 and December 31, 2014 , respectively. |
Payment Status for the LHFI Portfolio | September 30, 2015 (Dollars in millions) Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing 2 Total Commercial loans: C&I $65,148 $89 $12 $122 $65,371 CRE 6,150 2 1 15 6,168 Commercial construction 1,762 — — 1 1,763 Total commercial loans 73,060 91 13 138 73,302 Residential loans: Residential mortgages - guaranteed 200 51 376 — 627 Residential mortgages - nonguaranteed 1 24,081 105 9 156 24,351 Home equity products 13,189 81 — 146 13,416 Residential construction 375 3 — 16 394 Total residential loans 37,845 240 385 318 38,788 Consumer loans: Guaranteed student 3,724 367 497 — 4,588 Other direct 5,742 22 3 4 5,771 Indirect 10,032 83 1 3 10,119 Credit cards 978 8 6 — 992 Total consumer loans 20,476 480 507 7 21,470 Total LHFI $131,381 $811 $905 $463 $133,560 1 Includes $262 million of loans measured at fair value, the majority of which were accruing current. 2 Nonaccruing loans past due 90 days or more totaled $278 million . Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDR s and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. December 31, 2014 (Dollars in millions) Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing 2 Total Commercial loans: C&I $65,246 $36 $7 $151 $65,440 CRE 6,716 3 1 21 6,741 Commercial construction 1,209 1 — 1 1,211 Total commercial loans 73,171 40 8 173 73,392 Residential loans: Residential mortgages - guaranteed 176 34 422 — 632 Residential mortgages - nonguaranteed 1 23,067 108 14 254 23,443 Home equity products 13,989 101 — 174 14,264 Residential construction 402 7 — 27 436 Total residential loans 37,634 250 436 455 38,775 Consumer loans: Guaranteed student 3,801 425 601 — 4,827 Other direct 4,545 19 3 6 4,573 Indirect 10,537 104 3 — 10,644 Credit cards 887 8 6 — 901 Total consumer loans 19,770 556 613 6 20,945 Total LHFI $130,575 $846 $1,057 $634 $133,112 1 Includes $272 million of loans measured at fair value, the majority of which were accruing current. 2 Nonaccruing loans past due 90 days or more totaled $388 million . Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDR s and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. |
LHFI Considered Impaired | September 30, 2015 December 31, 2014 (Dollars in millions) Unpaid Principal Balance Amortized Cost 1 Related Allowance Unpaid Principal Balance Amortized Cost 1 Related Allowance Impaired loans with no related allowance recorded: Commercial loans: C&I $59 $49 $— $70 $51 $— CRE 11 9 — 12 11 — Total commercial loans 70 58 — 82 62 — Residential loans: Residential mortgages - nonguaranteed 431 326 — 592 425 — Residential construction 24 9 — 31 9 — Total residential loans 455 335 — 623 434 — Impaired loans with an allowance recorded: Commercial loans: C&I 14 12 7 27 26 7 CRE — — — 4 4 4 Total commercial loans 14 12 7 31 30 11 Residential loans: Residential mortgages - nonguaranteed 1,451 1,395 181 1,381 1,354 215 Home equity products 709 637 60 703 630 66 Residential construction 128 124 14 145 145 19 Total residential loans 2,288 2,156 255 2,229 2,129 300 Consumer loans: Other direct 11 11 1 13 13 1 Indirect 113 112 5 105 105 5 Credit cards 24 6 1 25 8 2 Total consumer loans 148 129 7 143 126 8 Total impaired loans $2,975 $2,690 $269 $3,108 $2,781 $319 1 Amortized cost reflects charge-offs that have been recognized plus other amounts that have been applied to reduce the net book balance. Included in the impaired loan balances above at both September 30, 2015 and December 31, 2014 were $2.5 billion of accruing TDR s at amortized cost, of which 97% and 96% were current, respectively. See Note 1 , “Significant Accounting Policies,” to the Company's 2014 Annual Report on Form 10-K for further information regarding the Company ’s loan impairment policy. Three Months Ended September 30 Nine Months Ended September 30 2015 2014 2015 2014 (Dollars in millions) Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Average Amortized Cost Interest Income Recognized 1 Impaired loans with no related allowance recorded: Commercial loans: C&I $51 $— $65 $— $53 $1 $68 $1 CRE 9 — 15 — 10 — 16 — Total commercial loans 60 — 80 — 63 1 84 1 Residential loans: Residential mortgages - nonguaranteed 330 4 454 5 335 11 467 14 Residential construction 9 — 14 — 11 — 15 — Total residential loans 339 4 468 5 346 11 482 14 Impaired loans with an allowance recorded: Commercial loans: C&I 20 — 45 — 23 1 46 1 CRE — — 10 — — — 9 — Total commercial loans 20 — 55 — 23 1 55 1 Residential loans: Residential mortgages - nonguaranteed 1,393 17 1,467 18 1,396 52 1,443 59 Home equity products 640 7 668 7 646 21 662 20 Residential construction 124 2 164 2 125 6 162 6 Total residential loans 2,157 26 2,299 27 2,167 79 2,267 85 Consumer loans: Other direct 12 — 14 — 12 — 14 — Indirect 114 1 116 1 119 4 110 4 Credit cards 6 — 10 — 7 — 11 1 Total consumer loans 132 1 140 1 138 4 135 5 Total impaired loans $2,708 $31 $3,042 $33 $2,737 $96 $3,023 $106 1 Of the interest income recognized during the three and nine months ended September 30, 2015 , cash basis interest income was $1 million and $3 million , respectively. Of the interest income recognized during the three and nine months ended September 30, 2014 , cash basis interest income was less than $1 million and $2 million , respectively. |
Nonperforming Assets | (Dollars in millions) September 30, 2015 December 31, 2014 Nonaccrual/NPLs: Commercial loans: C&I $122 $151 CRE 15 21 Commercial construction 1 1 Residential loans: Residential mortgages - nonguaranteed 156 254 Home equity products 146 174 Residential construction 16 27 Consumer loans: Other direct 4 6 Indirect 3 — Total nonaccrual/NPLs 1 463 634 OREO 2 62 99 Other repossessed assets 7 9 Nonperforming LHFS — 38 Total NPAs $532 $780 1 Nonaccruing restructured loans are included in total nonaccrual / NPL s. 2 Does not include foreclosed real estate related to loans insured by the FHA or the VA . Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $50 million and $57 million at September 30, 2015 and December 31, 2014 , respectively. |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended September 30, 2015 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 18 $— $— $— $— Residential loans: Residential mortgages - nonguaranteed 175 3 32 10 45 Home equity products 419 — 7 21 28 Residential construction 6 — — — — Consumer loans: Other direct 10 — — — — Indirect 611 — — 13 13 Credit cards 157 — 1 — 1 Total TDRs 1,396 $3 $40 $44 $87 Nine Months Ended September 30, 2015 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 63 $— $1 $5 $6 CRE 1 — — — — Residential loans: Residential mortgages - nonguaranteed 632 10 95 20 125 Home equity products 1,386 — 20 62 82 Residential construction 17 — — — — Consumer loans: Other direct 47 — — 1 1 Indirect 1,999 — — 39 39 Credit cards 529 — 2 — 2 Total TDRs 4,674 $10 $118 $127 $255 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2015 was immaterial. Three Months Ended September 30, 2014 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 23 $— $— $8 $8 Residential loans: Residential mortgages - nonguaranteed 266 2 26 8 36 Home equity products 503 — 1 22 23 Residential construction 1 — — — — Consumer loans: Other direct 21 — — — — Indirect 638 — — 12 12 Credit cards 123 — 1 — 1 Total TDRs 1,575 $2 $28 $50 $80 Nine Months Ended September 30, 2014 1 (Dollars in millions) Number of Loans Modified Principal 2 Rate Modification Term Extension and/or Other Concessions Total Commercial loans: C&I 66 $— $— $22 $22 CRE 4 3 — 3 6 Residential loans: Residential mortgages - nonguaranteed 944 8 105 38 151 Home equity products 1,407 — 6 59 65 Residential construction 11 — 1 — 1 Consumer loans: Other direct 59 — — 1 1 Indirect 2,189 — — 43 43 Credit cards 350 — 2 — 2 Total TDRs 5,030 $11 $114 $166 $291 1 Includes loans modified under the terms of a TDR that were charged-off during the period. 2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2014 was immaterial. |
TroubledDebtRestructuingDefault [Table Text Block] | For the three and nine months ended September 30, 2015 , the table below represents defaults on loans that were first modified between the periods January 1, 2014 and September 30, 2015 that became 90 days or more delinquent or were charged-off during the period. Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Number of Loans Amortized Cost Number of Loans Amortized Cost Commercial loans: C&I 13 $— 25 $1 Residential loans: Residential mortgages 25 3 80 12 Home equity products 33 2 95 4 Consumer loans: Other direct 2 — 3 — Indirect 47 — 118 1 Credit cards 22 — 45 — Total TDRs 142 $5 366 $18 For the three and nine months ended September 30, 2014 , the table below represents defaults on loans that were first modified between the periods January 1, 2013 and September 30, 2014 that became 90 days or more delinquent or were charged-off during the period. Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Number of Loans Amortized Cost Number of Loans Amortized Cost Commercial loans: C&I 30 $3 77 $8 Residential loans: Residential mortgages 46 6 135 16 Home equity products 28 1 75 4 Residential construction — — 6 — Consumer loans: Other direct 3 — 8 — Indirect 45 — 134 1 Credit cards 60 — 143 1 Total TDRs 212 $10 578 $30 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Allowance for Credit Losses [Abstract] | |
Activity in the Allowance for Credit Losses | Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Balance, beginning of period $1,886 $2,046 $1,991 $2,094 Provision for loan losses 23 93 107 275 Provision/(benefit) for unfunded commitments 9 — 7 (7 ) Loan charge-offs (102 ) (164 ) (356 ) (473 ) Loan recoveries 31 36 98 122 Balance, end of period $1,847 $2,011 $1,847 $2,011 Components: ALLL $1,786 $1,968 Unfunded commitments reserve 1 61 43 Allowance for credit losses $1,847 $2,011 1 The unfunded commitments reserve is recorded in other liabilities in the Consolidated Balance Sheets. |
Activity in the ALLL by Segment | Three Months Ended September 30, 2015 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $993 $676 $165 $1,834 Provision/(benefit) for loan losses 33 (39 ) 29 23 Loan charge-offs (23 ) (47 ) (32 ) (102 ) Loan recoveries 10 11 10 31 Balance, end of period $1,013 $601 $172 $1,786 Three Months Ended September 30, 2014 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $958 $875 $170 $2,003 Provision for loan losses 25 34 34 93 Loan charge-offs (26 ) (104 ) (34 ) (164 ) Loan recoveries 14 12 10 36 Balance, end of period $971 $817 $180 $1,968 Nine Months Ended September 30, 2015 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $986 $777 $174 $1,937 Provision/(benefit) for loan losses 74 (30 ) 63 107 Loan charge-offs (82 ) (177 ) (97 ) (356 ) Loan recoveries 35 31 32 98 Balance, end of period $1,013 $601 $172 $1,786 Nine Months Ended September 30, 2014 (Dollars in millions) Commercial Residential Consumer Total Balance, beginning of period $946 $930 $168 $2,044 Provision for loan losses 82 114 79 275 Loan charge-offs (97 ) (279 ) (97 ) (473 ) Loan recoveries 40 52 30 122 Balance, end of period $971 $817 $180 $1,968 |
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses | September 30, 2015 Commercial Residential Consumer Total (Dollars in millions) Carrying Value Associated ALLL Carrying Value Associated ALLL Carrying Value Associated ALLL Carrying Value Associated ALLL Individually evaluated $70 $7 $2,491 $255 $129 $7 $2,690 $269 Collectively evaluated 73,232 1,006 36,035 346 21,341 165 130,608 1,517 Total evaluated 73,302 1,013 38,526 601 21,470 172 133,298 1,786 LHFI at fair value — — 262 — — — 262 — Total LHFI $73,302 $1,013 $38,788 $601 $21,470 $172 $133,560 $1,786 December 31, 2014 Commercial Residential Consumer Total (Dollars in millions) Carrying Associated Carrying Associated Carrying Associated Carrying Associated Individually evaluated $92 $11 $2,563 $300 $126 $8 $2,781 $319 Collectively evaluated 73,300 975 35,940 477 20,819 166 130,059 1,618 Total evaluated 73,392 986 38,503 777 20,945 174 132,840 1,937 LHFI at fair value — — 272 — — — 272 — Total LHFI $73,392 $986 $38,775 $777 $20,945 $174 $133,112 $1,937 |
Goodwill and Other Intangible33
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | (Dollars in millions) Consumer Banking and Private Wealth Management Wholesale Banking Total Balance, January 1, 2014 $4,262 $2,107 $6,369 Acquisition of Lantana Oil and Gas Partners, Inc. — 8 8 Sale of RidgeWorth — (40 ) (40 ) Balance, September 30, 2014 $4,262 $2,075 $6,337 |
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block] | (Dollars in millions) MSRs - Other Total Balance, January 1, 2015 $1,206 $13 $1,219 Amortization 1 — (6 ) (6 ) Servicing rights originated 185 13 198 Servicing rights purchased 109 — 109 Changes in fair value: Due to changes in inputs and assumptions 2 (74 ) — (74 ) Other changes in fair value 3 (161 ) — (161 ) Servicing rights sold (3 ) — (3 ) Balance, September 30, 2015 $1,262 $20 $1,282 Balance, January 1, 2014 $1,300 $34 $1,334 Amortization 1 — (10 ) (10 ) Servicing rights originated 137 — 137 Servicing rights purchased 109 — 109 Changes in fair value: Due to changes in inputs and assumptions 2 (117 ) — (117 ) Other changes in fair value 3 (123 ) — (123 ) Servicing rights sold (1 ) — (1 ) Sale of RidgeWorth — (9 ) (9 ) Balance, September 30, 2014 $1,305 $15 $1,320 1 Does not include amortization of tax credits for non-qualified community development investments. See Note 8 , "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. 2 Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. 3 Represents changes due to the collection of expected cash flows, net of accretion, due to the passage of time. |
Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs | (Dollars in millions) September 30, 2015 December 31, 2014 Fair value of MSRs $1,262 $1,206 Prepayment rate assumption (annual) 11 % 11 % Decline in fair value from 10% adverse change $51 $46 Decline in fair value from 20% adverse change 98 88 Option adjusted spread (annual) 8 % 10 % Decline in fair value from 10% adverse change $55 $55 Decline in fair value from 20% adverse change 105 105 Weighted-average life (in years) 6.4 6.4 Weighted-average coupon 4.1 % 4.2 % |
Certain Transfers of Financia34
Certain Transfers of Financial Assets and Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Certain Transfers of Financial Assets and Variable Interest Entities [Abstract] | |
Portfolio Balances and Delinquency Balances Based on 90 Days or More Past Due and Net Charge-offs Related to Managed Portfolio Loans | Portfolio Balance 1 Past Due and Nonaccrual 2 Net Charge-offs September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Portfolio LHFI by type: Commercial $73,302 $73,392 $151 $181 $13 $12 $47 $57 Residential 38,788 38,775 703 891 36 92 146 227 Consumer 21,470 20,945 514 619 22 24 65 67 Total portfolio LHFI 133,560 133,112 1,368 1,691 71 128 258 351 Managed securitized loans by type: Residential 117,774 110,591 135 3 183 3 4 6 10 13 Consumer 889 — 1 — 1 — 1 — Total managed securitized loans 118,663 110,591 136 183 5 6 11 13 Managed unsecuritized loans 4,238 4,943 587 705 — — — — Total managed loans $256,461 $248,646 $2,091 $2,579 $76 $134 $269 $364 1 Excludes $2.0 billion and $3.2 billion of LHFS at September 30, 2015 and December 31, 2014 , respectively. 2 Excludes $1 million and $39 million of past due LHFS at September 30, 2015 and December 31, 2014 , respectively. 3 Excludes loans that have completed the foreclosure or short sale process (i.e., involuntary prepayments). |
Net Income_(Loss) Per Common 35
Net Income/(Loss) Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders | Three Months Ended September 30 Nine Months Ended September 30 (Dollars and shares in millions, except per share data) 2015 2014 2015 2014 Net income $537 $576 $1,449 $1,380 Preferred dividends (16 ) (9 ) (48 ) (28 ) Dividends and undistributed earnings allocated to unvested shares (2 ) (4 ) (5 ) (9 ) Net income available to common shareholders $519 $563 $1,396 $1,343 Average basic common shares 513 527 517 529 Effect of dilutive securities: Stock options 2 2 2 2 Restricted stock, RSUs, and warrants 4 4 4 4 Average diluted common shares 519 533 523 535 Net income per average common share - diluted $1.00 $1.06 $2.67 $2.51 Net income per average common share - basic $1.01 $1.07 $2.70 $2.54 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Employee Benefit Plans [Abstract] | |
Stock-Based Compensation Expense Recognized in Noninterest Expense | Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Stock options $— $— $1 $1 Restricted stock 4 7 13 21 Performance stock units 5 4 21 9 RSUs 7 5 35 27 Total stock-based compensation $16 $16 $70 $58 Stock-based compensation tax benefit $6 $6 $27 $22 |
Schedule of Net Benefit Costs [Table Text Block] | Pension Benefits 1 Other Postretirement Benefits Three Months Ended September 30 Nine Months Ended September 30 Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 2015 2014 2015 2014 Service cost $2 $2 $4 $4 $— $— $— $— Interest cost 29 31 87 93 1 1 2 2 Expected return on plan assets (52 ) (50 ) (155 ) (150 ) (2 ) (1 ) (4 ) (4 ) Amortization of prior service credit — — — — (1 ) (2 ) (4 ) (4 ) Amortization of actuarial loss 5 4 16 12 — — — — Net periodic benefit ($16 ) ($13 ) ($48 ) ($41 ) ($2 ) ($2 ) ($6 ) ($6 ) |
Guarantees (Tables)
Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Repurchase Requests [Abstract] | (Dollars in millions) 2015 2014 Beginning pending repurchase requests $47 $126 Repurchase requests received 58 139 Repurchase requests resolved: Repurchased (17 ) (22 ) Cured (72 ) (198 ) Total resolved (89 ) (220 ) Ending pending repurchase requests 1 $16 $45 Percent from non-agency investors: Pending repurchase requests 6.0 % 7.0 % Repurchase requests received 0.6 % 0.8 % 1 Comprised of $15 million and $42 million from the GSE s, and $1 million and $3 million from non-agency investors at September 30, 2015 and 2014, respectively. |
Mortgage Loan Repurchase Losses | Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2015 2014 2015 2014 Balance, at beginning of period $60 $77 $85 $78 Repurchase (benefit)/provision (1 ) 2 (9 ) 12 Charge-offs, net of recoveries — (2 ) (17 ) (13 ) Balance, at end of period $59 $77 $59 $77 |
Repurchased Mortgage Loan [Table Text Block] | (Dollars in millions) September 30, 2015 December 31, 2014 Outstanding repurchased mortgage loans: Performing LHFI $262 $271 Nonperforming LHFI 15 29 Nonperforming LHFS — 12 Total carrying value of outstanding repurchased mortgage loans $277 $312 |
Derivative Financial Instrume38
Derivative Financial Instruments (Tables) | 9 Months Ended | |
Sep. 30, 2015 | ||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative Positions | September 30, 2015 Asset Derivatives Liability Derivatives (Dollars in millions) Notional Amounts Fair Value Notional Amounts Fair Value Derivative instruments designated in cash flow hedging relationships 1 Interest rate contracts hedging floating rate loans $15,500 $262 $— $— Derivative instruments designated in fair value hedging relationships 2 Interest rate contracts hedging fixed rate debt 1,700 27 600 — Interest rate contracts hedging brokered CDs 30 — — — Total 1,730 27 600 — Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: MSRs 18,209 285 6,009 159 LHFS, IRLCs 4 2,638 13 4,478 40 Trading activity 5 69,745 2,449 63,113 2,237 Foreign exchange rate contracts hedging trading activity 3,634 127 3,303 123 Credit contracts hedging: Loans — — 215 3 Trading activity 6 2,568 16 2,735 13 Equity contracts hedging trading activity 5 22,911 1,944 28,546 2,253 Other contracts: IRLCs and other 7 2,672 38 81 6 Commodities 466 97 463 96 Total 122,843 4,969 108,943 4,930 Total derivative instruments $140,073 $5,258 $109,543 $4,930 Total gross derivative instruments, before netting $5,258 $4,930 Less: Legally enforceable master netting agreements (3,268 ) (3,268 ) Less: Cash collateral received/paid (541 ) (1,097 ) Total derivative instruments, after netting $1,449 $565 1 See “Cash Flow Hedges” in this Note for further discussion. 2 See “Fair Value Hedges” in this Note for further discussion. 3 See “Economic Hedging and Trading Activities” in this Note for further discussion. 4 Amount includes $848 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Amounts include $12.7 billion and $536 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. 6 Asset and liability amounts include $6 million and $9 million of notional amounts from purchased and written credit risk participation agreements, respectively, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. 7 Includes $49 million notional amount that is based on the number of Visa Class B shares , 3.2 million , the conversion ratio from Class B shares to Class A shares , and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12 , “Guarantees” for additional information. December 31, 2014 Asset Derivatives Liability Derivatives (Dollars in millions) Notional Amounts Fair Value Notional Amounts Fair Value Derivative instruments designated in cash flow hedging relationships 1 Interest rate contracts hedging floating rate loans $18,150 $208 $2,850 $8 Derivative instruments designated in fair value hedging relationships 2 Interest rate contracts hedging fixed rate debt 2,700 30 2,600 1 Interest rate contracts hedging brokered CDs 30 — — — Total 2,730 30 2,600 1 Derivative instruments not designated as hedging instruments 3 Interest rate contracts hedging: MSRs 5,172 163 8,807 30 LHFS, IRLCs 4 1,840 4 4,923 23 Trading activity 5 61,049 2,405 61,065 2,225 Foreign exchange rate contracts hedging trading activity 2,429 104 2,414 100 Credit contracts hedging: Loans — — 392 5 Trading activity 6 2,282 20 2,452 20 Equity contracts hedging trading activity 5 21,875 2,809 28,128 3,090 Other contracts: IRLCs and other 7 2,231 25 139 5 Commodities 381 71 374 70 Total 97,259 5,601 108,694 5,568 Total derivative instruments $118,139 $5,839 $114,144 $5,577 Total gross derivative instruments, before netting $5,839 $5,577 Less: Legally enforceable master netting agreements (4,083 ) (4,083 ) Less: Cash collateral received/paid (449 ) (1,032 ) Total derivative instruments, after netting $1,307 $462 1 See “Cash Flow Hedges” in this Note for further discussion. 2 See “Fair Value Hedges” in this Note for further discussion. 3 See “Economic Hedging and Trading Activities” in this Note for further discussion. 4 Amount includes $791 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. 5 Amounts include $10.3 billion and $563 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. 6 Asset and liability amounts both include $4 million of notional amounts from purchased and written interest rate swap risk participation agreements, respectively, whose notional is calculated as the notional of the interest rate swap participated adjusted by the relevant RWA conversion factor. 7 Includes $49 million notional amount that is based on the number of Visa Class B shares , 3.2 million , the conversion ratio from Class B shares to Class A shares , and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12 , “Guarantees” for additional information. | [1] |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Amount of Pre-tax Gain in OCI on Derivatives Amount of Pre-tax Gain into Income Amount of Pre-tax Gain in OCI on Derivatives Amount of Pre-tax Gain into Income Classification of Pre-tax Gain from AOCI into Income Derivative instruments in cash flow hedging relationships: Interest rate contracts hedging floating rate loans 1 $204 $47 $338 $126 Interest and fees on loans 1 During the three and nine months ended September 30, 2015 , the Company also reclassified $23 million and $61 million , respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (Dollars in millions) Amount of Gain/(Loss) on Derivatives Amount of Loss on Related Hedged Items Amount of Loss Recognized in Income on Hedges Amount of Gain on Derivatives Amount of Loss on Related Hedged Items Amount of Loss Recognized in Income on Hedges Derivative instruments in fair value hedging relationships: Interest rate contracts hedging fixed rate debt 1 $— ($1 ) ($1 ) $7 ($8 ) ($1 ) 1 Amounts are recognized in trading income in the Consolidated Statements of Income. (Dollars in millions) Classification of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives During the Three Months Ended September 30, 2015 Amount of Gain/(Loss) Recognized in Income on Derivatives During the Nine Months Ended September 30, 2015 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: MSRs Mortgage servicing related income $298 $223 LHFS, IRLCs Mortgage production related income (69 ) (60 ) LHFI Other noninterest income (2 ) (2 ) Trading activity Trading income 5 46 Foreign exchange rate contracts hedging trading activity Trading income 21 57 Credit contracts hedging: Loans Other noninterest income — (1 ) Trading activity Trading income 6 19 Equity contracts hedging trading activity Trading income — 3 Other contracts hedging: IRLCs Mortgage production related income 58 151 Commodities Trading income 1 2 Total $318 $438 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Amount of Amount of Pre-tax Gain Reclassified from AOCI into Income (Effective Portion) Amount of Amount of Classification of Pre-tax Gain Derivative instruments in cash flow hedging relationships: Interest rate contracts hedging floating rate loans 1 ($31 ) $76 $36 $225 Interest and fees on loans 1 During the three and nine months ended September 30, 2014 , the Company also reclassified $23 million and $77 million , respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (Dollars in millions) Amount of Loss on Derivatives Amount of Gain on Related Amount of Gain/(Loss) Recognized in Income on Hedges Amount of Amount of Loss on Related Hedged Items Amount of Gain Derivative instruments in fair value hedging relationships: Interest rate contracts hedging fixed rate debt 1 ($7 ) $7 $— $10 ($9 ) $1 1 Amounts are recognized in trading income in the Consolidated Statements of Income. (Dollars in millions) Classification of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain on Derivatives Amount of Gain/(Loss) on Derivatives During the Nine Months Ended September 30, 2014 Derivative instruments not designated as hedging instruments: Interest rate contracts hedging: MSRs Mortgage servicing related income $17 $138 LHFS, IRLCs Mortgage production related income 4 (92 ) Trading activity Trading income 9 34 Foreign exchange rate contracts hedging trading activity Trading income 44 43 Credit contracts hedging: Loans Other noninterest income 1 — Trading activity Trading income 4 13 Equity contracts hedging trading activity Trading income 1 4 Other contracts - IRLCs Mortgage production related income 52 190 Total $132 $330 | [2] |
Netting of financial instruments - derivatives [Table Text Block] | (Dollars in millions) Gross Amount Amount Offset Net Amount Presented in Consolidated Balance Sheets Held/Pledged Financial Instruments Net Amount September 30, 2015 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $4,748 $3,455 $1,293 $51 $1,242 Derivatives not subject to master netting arrangement or similar arrangement 38 — 38 — 38 Exchange traded derivatives 472 354 118 — 118 Total derivative instrument assets $5,258 $3,809 $1,449 1 $51 $1,398 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $4,488 $4,011 $477 $20 $457 Derivatives not subject to master netting arrangement or similar arrangement 88 — 88 — 88 Exchange traded derivatives 354 354 — — — Total derivative instrument liabilities $4,930 $4,365 $565 2 $20 $545 December 31, 2014 Derivative instrument assets: Derivatives subject to master netting arrangement or similar arrangement $5,127 $4,095 $1,032 $63 $969 Derivatives not subject to master netting arrangement or similar arrangement 25 — 25 — 25 Exchange traded derivatives 687 437 250 — 250 Total derivative instrument assets $5,839 $4,532 $1,307 1 $63 $1,244 Derivative instrument liabilities: Derivatives subject to master netting arrangement or similar arrangement $5,001 $4,678 $323 $12 $311 Derivatives not subject to master netting arrangement or similar arrangement 133 — 133 — 133 Exchange traded derivatives 443 437 6 — 6 Total derivative instrument liabilities $5,577 $5,115 $462 2 $12 $450 1 At September 30, 2015 , $1.4 billion , net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company 's Consolidated Balance Sheets. At December 31, 2014 , $1.3 billion , net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company 's Consolidated Balance Sheets. 2 At September 30, 2015 , $565 million , net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company 's Consolidated Balance Sheets. At December 31, 2014 , $462 million , net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company 's Consolidated Balance Sheets. | |
[1] | Amounts are recognized in trading income in the Consolidated Statements of Income. | |
[2] | During the three and nine months ended September 30, 2014, the Company also reclassified $23 million and $77 million, respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. |
Fair Value Election and Measu39
Fair Value Election and Measurement (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Recurring Fair Value Measurements The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments for which fair value has been elected. September 30, 2015 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $443 $— $— $— $443 Federal agency securities — 532 — — 532 U.S. states and political subdivisions — 40 — — 40 MBS - agency — 565 — — 565 CLO securities — 2 — — 2 Corporate and other debt securities — 390 — — 390 CP — 312 — — 312 Equity securities 65 — — — 65 Derivative instruments 474 4,746 38 (3,809 ) 1,449 Trading loans — 2,739 — — 2,739 Total trading assets and derivative instruments 982 9,326 38 (3,809 ) 6,537 Securities AFS: U.S. Treasury securities 3,065 — — — 3,065 Federal agency securities — 420 — — 420 U.S. states and political subdivisions — 169 5 — 174 MBS - agency — 22,905 — — 22,905 MBS - private — — 102 — 102 ABS — — 15 — 15 Corporate and other debt securities — 33 5 — 38 Other equity securities 2 111 — 440 — 551 Total securities AFS 3,176 23,527 567 — 27,270 Residential LHFS — 1,881 2 — 1,883 LHFI — — 262 — 262 MSRs — — 1,262 — 1,262 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 584 — — — 584 MBS - agency — 4 — — 4 Corporate and other debt securities — 177 — — 177 Derivative instruments 355 4,569 6 (4,365 ) 565 Total trading liabilities and derivative instruments 939 4,750 6 (4,365 ) 1,330 Long-term debt — 986 — — 986 Other liabilities 3 — — 23 — 23 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes $111 million of mutual fund investments, $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $6 million of other. 3 Includes contingent consideration obligations related to acquisitions. December 31, 2014 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments 1 Assets/Liabilities at Fair Value Assets Trading assets and derivative instruments: U.S. Treasury securities $267 $— $— $— $267 Federal agency securities — 547 — — 547 U.S. states and political subdivisions — 42 — — 42 MBS - agency — 545 — — 545 CLO securities — 3 — — 3 Corporate and other debt securities — 509 — — 509 CP — 327 — — 327 Equity securities 45 — — — 45 Derivative instruments 688 5,126 25 (4,532 ) 1,307 Trading loans — 2,610 — — 2,610 Total trading assets and derivative instruments 1,000 9,709 25 (4,532 ) 6,202 Securities AFS: U.S. Treasury securities 1,921 — — — 1,921 Federal agency securities — 484 — — 484 U.S. states and political subdivisions — 197 12 — 209 MBS - agency — 23,048 — — 23,048 MBS - private — — 123 — 123 ABS — — 21 — 21 Corporate and other debt securities — 36 5 — 41 Other equity securities 2 138 — 785 — 923 Total securities AFS 2,059 23,765 946 — 26,770 Residential LHFS — 1,891 1 — 1,892 LHFI — — 272 — 272 MSRs — — 1,206 — 1,206 Liabilities Trading liabilities and derivative instruments: U.S. Treasury securities 485 — — — 485 MBS - agency — 1 — — 1 Corporate and other debt securities — 279 — — 279 Derivative instruments 444 5,128 5 (5,115 ) 462 Total trading liabilities and derivative instruments 929 5,408 5 (5,115 ) 1,227 Long-term debt — 1,283 — — 1,283 Other liabilities 3 — — 27 — 27 1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. 2 Includes $138 million of mutual fund investments, $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $7 million of other. 3 Includes contingent consideration obligations related to acquisitions. |
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance | (Dollars in millions) Fair Value at September 30, 2015 Aggregate UPB under FVO at September 30, 2015 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,739 $2,687 $52 LHFS: Accrual 1,883 1,806 77 LHFI: Accrual 260 269 (9 ) Nonaccrual 2 3 (1 ) Liabilities: Long-term debt 986 907 79 (Dollars in millions) Fair Value at December 31, 2014 Aggregate UPB under FVO at December 31, 2014 Fair Value Over/(Under) Unpaid Principal Assets: Trading loans $2,610 $2,589 $21 LHFS: Accrual 1,891 1,817 74 Nonaccrual 1 1 — LHFI: Accrual 269 281 (12 ) Nonaccrual 3 5 (2 ) Liabilities: Long-term debt 1,283 1,176 107 |
Change in Fair Value of Financial Instruments for which the FVO has been Elected | Fair Value Gain/(Loss) for the Three Months Ended September 30, 2015 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2015 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Current Period Earnings 2 Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Other Noninterest Income Total Changes in Fair Values Included in Current Period Earnings 2 Assets: Trading loans ($1 ) $— $— $— ($1 ) $1 $— $— $— $1 LHFS — 20 — — 20 — 32 — — 32 LHFI — — — 4 4 — — — 3 3 MSRs — — (198 ) — (198 ) — 1 (235 ) — (234 ) Liabilities: Long-term debt 9 — — — 9 28 — — — 28 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2015 , income related to MSR s includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2015 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS , LHFI , and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. Fair Value Gain/(Loss) for the Three Months Ended September 30, 2014 for Items Measured at Fair Value Pursuant to Election of the FVO Fair Value Gain/(Loss) for the Nine Months Ended September 30, 2014 for Items Measured at Fair Value Pursuant to Election of the FVO (Dollars in millions) Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Total Changes in Fair Values Included in Current Period Earnings 2 Trading Income Mortgage Production Related Income 1 Mortgage Servicing Related Income Total Changes in Fair Values Included in Current Period Earnings 2 Assets: Trading loans $1 $— $— $1 $10 $— $— $10 LHFS — (32 ) — (32 ) — (18 ) — (18 ) LHFI — — — — — 8 — 8 MSRs — — (55 ) (55 ) — 2 (240 ) (238 ) Liabilities: Brokered time deposits 1 — — 1 6 — — 6 Long-term debt 9 — — 9 6 — — 6 1 Income related to LHFS does not include income from IRLC s. For the three and nine months ended September 30, 2014 , income related to MSR s includes income recognized upon the sale of loans reported at LOCOM . 2 Changes in fair value for the three and nine months ended September 30, 2014 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS , LHFI , brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. |
Fair Value Level 3 Significant Unobservable Input Assumptions [Table Text Block] | Level 3 Significant Unobservable Input Assumptions (Dollars in millions) Fair value Valuation Technique Unobservable Input 1 Range (weighted average) Assets Trading assets and derivative instruments: Derivative instruments, net 2 $32 Internal model Pull through rate 39-100% (75%) MSR value 26-201 bps (100 bps) Securities AFS: U.S. states and political subdivisions 5 Cost N/A MBS - private 102 Third party pricing N/A ABS 15 Third party pricing N/A Corporate and other debt securities 5 Cost N/A Other equity securities 440 Cost N/A Residential LHFS 2 Monte Carlo/Discounted cash flow Option adjusted spread 143-162 bps (156 bps) Conditional prepayment rate 3-17 CPR (11 CPR) Conditional default rate 0-2 CDR (0.5 CDR) LHFI 260 Monte Carlo/Discounted cash flow Option adjusted spread 0-452 bps (269 bps) Conditional prepayment rate 5-36 CPR (13 CPR) Conditional default rate 0-5 CDR (2 CDR) 2 Collateral based pricing Appraised value NM 4 MSRs 1,262 Monte Carlo/Discounted cash flow Conditional prepayment rate 2-21 CPR (11 CPR) Option adjusted spread (5)-107% (8%) Liabilities Other liabilities 3 23 Internal model Loan production volume 150% (150%) 1 For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available to the Company , and therefore, have been noted as not applicable, "N/A." 2 Represents the net of IRLC assets and liabilities entered into by the Mortgage Banking segment and includes the derivative liability associated with the Company's sale of Visa shares. 3 Input assumptions relate to the Company 's contingent consideration obligations related to acquisitions. See Note 12 , "Guarantees," for additional information. 4 Not meaningful. Level 3 Significant Unobservable Input Assumptions (Dollars in millions) Fair value December 31, 2014 Valuation Technique Unobservable Input 1 Range (weighted average) Assets Trading assets and derivative instruments: Derivative instruments, net 2 $20 Internal model Pull through rate 40-100% (75%) MSR value 39-218 bps (107 bps) Securities AFS: U.S. states and political subdivisions 12 Cost N/A MBS - private 123 Third party pricing N/A ABS 21 Third party pricing N/A Corporate and other debt securities 5 Cost N/A Other equity securities 785 Cost N/A Residential LHFS 1 Monte Carlo/Discounted cash flow Option adjusted spread 145-225 bps (157 bps) Conditional prepayment rate 1-30 CPR (15 CPR) Conditional default rate 0-3 CDR (0.75 CDR) LHFI 269 Monte Carlo/Discounted cash flow Option adjusted spread 0-450 bps (286 bps) Conditional prepayment rate 4-30 CPR (14 CPR) Conditional default rate 0-7 CDR (2 CDR) 3 Collateral based pricing Appraised value NM 4 MSRs 1,206 Monte Carlo/Discounted cash flow Conditional prepayment rate 2-47 CPR (11 CPR) Option adjusted spread (1)-122% (10%) Liabilities Other liabilities 3 27 Internal model Loan production volume 0-150% (107%) 1 For certain assets and liabilities where the Company utilizes third party pricing, the unobservable inputs and their ranges are not reasonably available to the Company , and therefore, have been noted as not applicable, "N/A." 2 Represents the net of IRLC assets and liabilities entered into by the Mortgage Banking segment and includes the derivative liability associated with the Company's sale of Visa shares. 3 Input assumptions relate to the Company 's contingent consideration obligations related to acquisitions. See Note 12 , "Guarantees," for additional informatio |
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs | three and nine months ended September 30, 2015 and 2014 . Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers Transfers Transfers Fair value September 30, 2015 Included in earnings (held at September 30, 2015) 1 Assets Trading assets: Derivative instruments, net $14 $58 2 $— $— $— $1 ($41 ) $— $— $32 ($1 ) 2 Securities AFS: U.S. states and political subdivisions 5 — — — — — — — — 5 — MBS - private 112 (1 ) 1 5 — — (10 ) — — — 102 (1 ) ABS 17 — — — — (2 ) — — — 15 — Corporate and other debt securities 3 — — 5 — (3 ) — — — 5 — Other equity securities 582 — (2 ) 5 — — (140 ) — — — 440 — Total securities AFS 719 (1 ) (1 ) 5 — (155 ) — — — 567 (1 ) Residential LHFS 2 — — — (7 ) — (1 ) 8 — 2 — LHFI 263 3 3 — — — (8 ) — 4 — 262 3 3 Liabilities Other liabilities 23 — — — — — — — — 23 — Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from other balance sheet line items Transfers Transfers Fair value September 30, 2015 Included in earnings (held at September 30, 2015) 1 Assets Trading assets: Derivative instruments, net $20 $148 2 $— $— $— $2 ($138 ) $— $— $32 ($5 ) 2 Securities AFS: U.S. states and political subdivisions 12 — — — — (7 ) — — — 5 — MBS - private 123 (1 ) 2 5 — — (22 ) — — — 102 (1 ) ABS 21 — — — — (6 ) — — — 15 — Corporate and other debt securities 5 — — 5 — (5 ) — — — 5 — Other equity securities 785 — (2 ) 5 104 — (447 ) — — — 440 — Total securities AFS 946 (1 ) — 109 — (487 ) — — — 567 (1 ) Residential LHFS 1 — — — (16 ) — (2 ) 19 — 2 — LHFI 272 3 3 — — — (32 ) (1 ) 20 — 262 1 3 Liabilities Other liabilities 27 6 4 — — — (10 ) — — — 23 6 4 1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets/liabilities still held at September 30, 2015 . 2 Includes issuances, fair value changes, and expirations and are recognized in mortgage production related income. 3 Amounts are generally included in mortgage production related income; however, the mark on certain fair value loans is included in other noninterest income. 4 Amounts included in earnings are recognized in other noninterest expense. 5 Amount recognized in OCI is included in change in net unrealized gains/(losses) on securities AFS , net of tax. Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers Transfers Transfers Fair value September 30, 2014 Included in earnings (held at September 30, 2014) 1 Assets Trading assets: Derivative instruments, net $21 $47 2 $— $— $— $1 ($64 ) $— $— $5 $16 2 Securities AFS: U.S. states and political subdivisions 12 — — — — — — — — 12 — MBS - private 140 (1 ) (1 ) 5 — — (6 ) — — — 132 (1 ) ABS 22 — — — — (1 ) — — — 21 — Corporate and other debt securities 5 — — — — — — — — 5 — Other equity securities 779 — — 135 — (90 ) 6 — — 830 — Total securities AFS 958 (1 ) 4 (1 ) 135 — (97 ) 6 — — 1,000 (1 ) Residential LHFS 3 — — — (3 ) — — 1 — 1 — LHFI 292 1 6 — — — (8 ) (2 ) 1 — 284 1 6 Liabilities Other liabilities 27 — — — — (3 ) — — — 24 — Fair Value Measurements Using Significant Unobservable Inputs (Dollars in millions) Beginning Included OCI Purchases Sales Settlements Transfers to/from other balance sheet line items Transfers Transfers Fair value September 30, 2014 Included in earnings (held at September 30, 2014) 1 Assets Trading assets: CDO/CLO securities $54 $11 3 $— $— ($65 ) $— $— $— $— $— $— ABS 6 1 3 — — (7 ) — — — — — — Derivative instruments, net 8 180 2 — — — 2 (185 ) — — 5 (10 ) 2 Total trading assets 68 192 — — (72 ) 2 (185 ) — — 5 (10 ) Securities AFS: U.S. states and political subdivisions 34 (2 ) — — (20 ) — — — — 12 — MBS - private 154 (1 ) 4 5 — — (25 ) — — — 132 (1 ) ABS 21 — 1 5 — — (1 ) — — — 21 — Corporate and other debt securities 5 — — — — — — — — 5 — Other equity securities 739 — — 270 — (185 ) 6 — — 830 — Total securities AFS 953 (3 ) 4 5 270 (20 ) (211 ) 6 — — 1,000 (1 ) Residential LHFS 3 — — — (7 ) — (6 ) 12 (1 ) 1 — LHFI 302 9 6 — — — (31 ) 3 1 — 284 6 6 Liabilities Other liabilities 29 1 7 — — — (3 ) (3 ) — — 24 — |
Change in Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis | Fair Value Measurements Losses for the Three Months Ended September 30, 2015 Losses for the Nine Months Ended September 30, 2015 (Dollars in millions) September 30, 2015 Level 1 Level 2 Level 3 LHFI $17 $— $— $17 $— $— OREO 17 — 1 16 (2 ) (3 ) Other assets 39 — 32 7 (1 ) (7 ) Fair Value Measurements Losses for the (Dollars in millions) December 31, 2014 Level 1 Level 2 Level 3 LHFS $1,108 $121 $45 $942 ($6 ) LHFI 24 — — 24 — OREO 29 — 1 28 (6 ) Affordable housing 77 — — 77 (21 ) Other assets 225 — 216 9 (64 ) |
Carrying Amounts and Fair Values of the Company's Financial Instruments | September 30, 2015 Fair Value Measurements (Dollars in millions) Measured Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $4,916 $4,916 $4,916 $— $— (a) Trading assets and derivative instruments 6,537 6,537 982 5,517 38 (b) Securities AFS 27,270 27,270 3,176 23,527 567 (b) LHFS 2,032 2,034 — 2,007 27 (c) LHFI, net 131,774 129,046 — 406 128,640 (d) Financial liabilities: Deposits 146,371 146,407 — 146,407 — (e) Short-term borrowings 3,942 3,942 — 3,942 — (f) Long-term debt 8,444 8,403 — 7,852 551 (f) Trading liabilities and derivative instruments 1,330 1,330 939 385 6 (b) December 31, 2014 Fair Value Measurements (Dollars in millions) Measured Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $8,229 $8,229 $8,229 $— $— (a) Trading assets and derivative instruments 6,202 6,202 1,000 5,177 25 (b) Securities AFS 26,770 26,770 2,059 23,765 946 (b) LHFS 3,232 3,240 — 2,063 1,177 (c) LHFI, net 131,175 126,855 — 545 126,310 (d) Financial liabilities: Deposits 140,567 140,562 — 140,562 — (e) Short-term borrowings 9,186 9,186 — 9,186 — (f) Long-term debt 13,022 13,056 — 12,398 658 (f) Trading liabilities and derivative instruments 1,227 1,227 929 293 5 (b) The following methods and assumptions were used by the Company in estimating the fair value of financial instruments: (a) Cash and cash equivalents are valued at their carrying amounts, which are reasonable estimates of fair value due to the relatively short period to maturity of the instruments. (b) Trading assets and derivative instruments, securities AFS , and trading liabilities and derivative instruments that are classified as level 1 are valued based on quoted market prices. For those instruments classified as level 2 or 3, refer to the respective valuation discussions within this footnote. (c) LHFS are generally valued based on observable current market prices or, if quoted market prices are not available, quoted market prices of similar instruments. Refer to the LHFS section within this footnote for further discussion. When valuation assumptions are not readily observable in the market, instruments are valued based on the best available data to approximate fair value. This data may be internally-developed and considers risk premiums that a market participant would require under then-current market conditions. (d) LHFI fair values are based on a hypothetical exit price, which does not represent the estimated intrinsic value of the loan if held for investment. The assumptions used are expected to approximate those that a market participant purchasing the loans would use to value the loans, including a market risk premium and liquidity discount. Estimating the fair value of the loan portfolio when loan sales and trading markets are illiquid or nonexistent requires significant judgment. Generally, the Company measures fair value for LHFI based on estimated future discounted cash flows using current origination rates for loans with similar terms and credit quality, which derived an estimated value of 100% on the loan portfolio’s net carrying value at both September 30, 2015 and December 31, 2014 . The value derived from origination rates likely does not represent an exit price; therefore, an incremental market risk and liquidity discount was applied when estimating the fair value of these loans. The discounted value is a function of a market participant’s required yield in the current environment and is not a reflection of the expected cumulative losses on the loans. (e) Deposit liabilities with no defined maturity such as DDA s, NOW /money market accounts, and savings accounts have a fair value equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for CD s are estimated using a discounted cash flow approach that applies current interest rates to a schedule of aggregated expected maturities. The assumptions used in the discounted cash flow analysis are expected to approximate those that market participants would use in valuing deposits. The value of long-term relationships with depositors is not taken into account in estimating fair values. (f) Fair values for short-term borrowings and certain long-term debt are based on quoted market prices for similar instruments or estimated discounted cash flows utilizing the Company ’s current incremental borrowing rate for similar types of instruments. For long-term debt that the Company measures at fair value, refer to the respective valuation section within this footnote. For level 3 debt, the terms are unique in nature or there are otherwise no similar instruments that can be used to value the instrument without using significant unobservable assumptions. In this situation, the Company reviews current borrowing rates along with the collateral levels that secure the debt in determining an appropriate fair value adjustment. |
Business Segment Reporting (Tab
Business Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | Three Months Ended September 30, 2015 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $40,206 $67,274 $25,299 $70 ($12 ) $132,837 Average consumer and commercial deposits 91,016 51,237 2,918 84 (29 ) 145,226 Average total assets 45,874 80,097 29,280 29,878 3,212 188,341 Average total liabilities 91,671 56,611 3,290 13,397 (12 ) 164,957 Average total equity — — — — 23,384 23,384 Statements of Income: Net interest income $688 $447 $123 $40 ($87 ) $1,211 FTE adjustment — 35 — 1 — 36 Net interest income - FTE 1 688 482 123 41 (87 ) 1,247 Provision/(benefit) for credit losses 2 22 47 (38 ) — 1 32 Net interest income after provision/(benefit) for credit losses - FTE 666 435 161 41 (88 ) 1,215 Total noninterest income 384 293 109 29 (4 ) 811 Total noninterest expense 720 388 154 6 (4 ) 1,264 Income before provision for income taxes - FTE 330 340 116 64 (88 ) 762 Provision for income taxes - FTE 3 123 109 11 22 (42 ) 223 Net income including income attributable to noncontrolling interest 207 231 105 42 (46 ) 539 Net income attributable to noncontrolling interest — — — 2 — 2 Net income $207 $231 $105 $40 ($46 ) $537 Three Months Ended September 30, 2014 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $41,904 $63,542 $25,261 $46 ($6 ) $130,747 Average consumer and commercial deposits 86,194 43,319 2,664 83 (65 ) 132,195 Average total assets 47,586 75,156 30,447 27,326 2,918 183,433 Average total liabilities 86,888 49,955 3,085 21,356 (42 ) 161,242 Average total equity — — — — 22,191 22,191 Statements of Income/(Loss): Net interest income $666 $419 $148 $70 ($88 ) $1,215 FTE adjustment — 34 — 1 1 36 Net interest income - FTE 1 666 453 148 71 (87 ) 1,251 Provision for credit losses 2 40 9 44 — — 93 Net interest income after provision for credit losses - FTE 626 444 104 71 (87 ) 1,158 Total noninterest income 399 241 130 14 (4 ) 780 Total noninterest expense 720 367 166 12 (6 ) 1,259 Income before provision/(benefit) for income taxes - FTE 305 318 68 73 (85 ) 679 Provision/(benefit) for income taxes - FTE 3 112 94 25 (108 ) (20 ) 103 Net income including income attributable to noncontrolling interest 193 224 43 181 (65 ) 576 Net income attributable to noncontrolling interest — — — — — — Net income $193 $224 $43 $181 ($65 ) $576 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. Nine Months Ended September 30, 2015 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $40,556 $67,547 $24,847 $59 ($9 ) $133,000 Average consumer and commercial deposits 90,935 49,147 2,754 85 (52 ) 142,869 Average total assets 46,493 80,777 28,595 29,469 3,301 188,635 Average total liabilities 91,578 54,826 3,139 15,894 (68 ) 165,369 Average total equity — — — — 23,266 23,266 Statements of Income: Net interest income $2,029 $1,321 $366 $103 ($301 ) $3,518 FTE adjustment — 103 — 2 2 107 Net interest income - FTE 1 2,029 1,424 366 105 (299 ) 3,625 Provision/(benefit) for credit losses 2 101 73 (61 ) — 1 114 Net interest income after provision/(benefit) for credit losses - FTE 1,928 1,351 427 105 (300 ) 3,511 Total noninterest income 1,136 949 346 84 (12 ) 2,503 Total noninterest expense 2,167 1,189 511 18 (13 ) 3,872 Income before provision for income taxes - FTE 897 1,111 262 171 (299 ) 2,142 Provision for income taxes - FTE 3 334 371 45 61 (125 ) 686 Net income including income attributable to noncontrolling interest 563 740 217 110 (174 ) 1,456 Net income attributable to noncontrolling interest — — — 7 — 7 Net income $563 $740 $217 $103 ($174 ) $1,449 Nine Months Ended September 30, 2014 (Dollars in millions) Consumer Wholesale Banking Mortgage Banking Corporate Other Reconciling Consolidated Balance Sheets: Average loans $41,564 $61,297 $27,106 $50 ($7 ) $130,010 Average consumer and commercial deposits 85,190 42,899 2,260 85 (65 ) 130,369 Average total assets 47,244 72,646 31,078 26,313 2,817 180,098 Average total liabilities 85,931 49,594 2,763 19,869 (31 ) 158,126 Average total equity — — — — 21,972 21,972 Statements of Income/(Loss): Net interest income $1,957 $1,220 $422 $220 ($190 ) $3,629 FTE adjustment — 102 — 2 1 105 Net interest income - FTE 1 1,957 1,322 422 222 (189 ) 3,734 Provision for credit losses 2 135 39 94 — — 268 Net interest income after provision for credit losses - FTE 1,822 1,283 328 222 (189 ) 3,466 Total noninterest income 1,141 828 350 222 (13 ) 2,528 Total noninterest expense 2,154 1,180 717 95 (12 ) 4,134 Income/(loss) before provision/(benefit) for income taxes - FTE 809 931 (39 ) 349 (190 ) 1,860 Provision/(benefit) for income taxes - FTE 3 297 296 (16 ) (41 ) (67 ) 469 Net income/(loss) including income attributable to noncontrolling interest 512 635 (23 ) 390 (123 ) 1,391 Net income attributable to noncontrolling interest — — — 11 — 11 Net income/(loss) $512 $635 ($23 ) $379 ($123 ) $1,380 1 Presented on a matched maturity funds transfer price basis for the segments. 2 Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. 3 Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. |
Accumulated Other Comprehensi41
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in millions) Securities AFS Derivative Instruments Employee Benefit Plans Total Three Months Ended September 30, 2015 Balance, beginning of period $183 $107 ($584 ) ($294 ) Net unrealized gains arising during the period 123 128 — 251 Amounts reclassified from AOCI (4 ) (44 ) 3 (45 ) Other comprehensive income, net of tax 119 84 3 206 Balance, end of period $302 $191 ($581 ) ($88 ) Three Months Ended September 30, 2014 Balance, beginning of period $206 $193 ($458 ) ($59 ) Net unrealized losses arising during the period (43 ) (19 ) — (62 ) Amounts reclassified from AOCI 6 (63 ) 1 (56 ) Other comprehensive (loss)/income, net of tax (37 ) (82 ) 1 (118 ) Balance, end of period $169 $111 ($457 ) ($177 ) Nine Months Ended September 30, 2015 Balance, beginning of period $298 $97 ($517 ) ($122 ) Net unrealized gains arising during the period 17 212 — 229 Amounts reclassified from AOCI (13 ) (118 ) (64 ) (195 ) Other comprehensive income/(loss), net of tax 4 94 (64 ) 34 Balance, end of period $302 $191 ($581 ) ($88 ) Nine Months Ended September 30, 2014 Balance, beginning of period ($77 ) $279 ($491 ) ($289 ) Net unrealized gains arising during the period 239 23 — 262 Amounts reclassified from AOCI 7 (191 ) 34 (150 ) Other comprehensive income/(loss), net of tax 246 (168 ) 34 112 Balance, end of period $169 $111 ($457 ) ($177 ) |
schedule of reclassifications from AOCI [Table Text Block] | (Dollars in millions) Three Months Ended September 30 Nine Months Ended September 30 Affected Line Item in the Statement Where Net Income is Presented Details About AOCI Components 2015 2014 2015 2014 Securities AFS: Realized (gains)/losses on securities AFS ($7 ) $9 ($21 ) $11 Net securities gains/(losses) Tax effect 3 (3 ) 8 (4 ) Provision for income taxes (4 ) 6 (13 ) 7 Derivative Instruments: Realized gains on cash flow hedges (70 ) (99 ) (187 ) (302 ) Interest and fees on loans Tax effect 26 36 69 111 Provision for income taxes (44 ) (63 ) (118 ) (191 ) Employee Benefit Plans: Amortization of prior service credit (1 ) (2 ) (4 ) (4 ) Employee benefits Amortization of actuarial loss 5 4 16 12 Employee benefits Adjustment to funded status of employee benefit obligation — — (120 ) 46 Other assets/other liabilities 4 2 (108 ) 54 Tax effect (1 ) (1 ) 44 (20 ) Provision for income taxes 3 1 (64 ) 34 Total reclassifications from AOCI ($45 ) ($56 ) ($195 ) ($150 ) |
Federal Funds Sold and Securi42
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Federal Funds Sold | $ 55 | $ 38 |
Securities Borrowed | 221 | 290 |
Securities Purchased under Agreements to Resell | 829 | 832 |
Federal Funds Sold and Securities Purchased under Agreements to Resell | $ 1,105 | $ 1,160 |
Federal Funds Sold and Securi43
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Fair Value of Securities Received as Collateral that Can be Resold or Repledged | $ 1,100 | $ 1,100 |
Fair Value of Securities Received as Collateral that Have Been Resold or Repledged | $ 219 | $ 222 |
Federal Funds Sold and Securi44
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 1,536 | $ 2,276 |
US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 376 | |
US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 231 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 1,104 | |
Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 238 | |
Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 327 | |
Maturity Overnight [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 1,536 | 2,231 |
Maturity Overnight [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 84 | 376 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 223 | 231 |
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 868 | 1,059 |
Maturity Overnight [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 37 | 238 |
Maturity Overnight [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 324 | 327 |
Maturity up to 30 days [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 45 | |
Maturity up to 30 days [Member] | US Treasury Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | |
Maturity up to 30 days [Member] | US Government Agencies Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | |
Maturity up to 30 days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 45 | |
Maturity up to 30 days [Member] | Commercial Paper [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | |
Maturity up to 30 days [Member] | Corporate Debt Securities [Member] | ||
securities sold under agreement to repurchase maturity [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 0 |
Federal Funds Sold and Securi45
Federal Funds Sold and Securities Borrowed or Purchased Under Agreements to Resell Netting of financial instruments - repurchase agreements (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets Sold under Agreements to Repurchase [Line Items] | |||
Carrying Value of Securities Purchased under Agreements to Resell and Deposits Paid for Securities Borrowed | $ 1,050 | $ 1,122 | |
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral | 0 | 0 | |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | [1] | 1,050 | 1,122 |
Held Financial Instruments, Not Separately Reported, Securities for Reverse Repurchase Agreements | 1,043 | 1,112 | |
Securities Borrowed or Purchased Under Agreements to Resell, Amount Not Offset Against Collateral | 7 | 10 | |
Securities Sold under Agreements to Repurchase, Gross | 1,536 | 2,276 | |
Securities Sold Under Agreements to Repurchase, Amount Offset Against Collateral | 0 | 0 | |
Securities Sold under Agreements to Repurchase | 1,536 | 2,276 | |
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements | 1,536 | 2,276 | |
Securities Sold Under Agreements to Repurchase, Amount Not Offset Against Collateral | $ 0 | $ 0 | |
[1] | Excludes $55 million and $38 million of Fed funds sold, which are not subject to a master netting agreement at September 30, 2015 and December 31, 2014, respectively. |
Trading Assets and Liabilitie46
Trading Assets and Liabilities and Derivatives(Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | [1] | $ 6,537 | $ 6,202 |
Trading liabilities | 1,330 | 1,227 | |
US Treasury Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 443 | 267 | |
Trading liabilities | 584 | 485 | |
US Government Agencies Debt Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 532 | 547 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 40 | 42 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 565 | 545 | |
Trading liabilities | 4 | 1 | |
Collateralized Loan Obligations [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 2 | 3 | |
Corporate Debt Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 390 | 509 | |
Trading liabilities | 177 | 279 | |
Commercial Paper [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 312 | 327 | |
Equity Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | 65 | 45 | |
Derivative Financial Instruments, Assets | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | [2] | 1,449 | 1,307 |
Loans [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading assets | [3] | 2,739 | 2,610 |
Derivative Financial Instruments, Liabilities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading liabilities | [2] | $ 565 | $ 462 |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | ||
[2] | Amounts include the impact of offsetting cash collateral received from and paid to the same derivative counterparties and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. | ||
[3] | Includes loans related to TRS. |
Trading Assets and Liabilitie47
Trading Assets and Liabilities and Derivatives - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral | $ 825 | $ 1,064 |
Repurchase Agreements [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading Securities Pledged as Collateral | 857 | 1,126 |
Equity Trading [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading Securities Pledged as Collateral | 40 | 40 |
Derivative [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading Securities Pledged as Collateral | $ 298 | $ 202 |
Securities Available for Sale48
Securities Available for Sale (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | ||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | $ 26,747 | $ 26,257 | |
Unrealized Gains | 583 | 600 | |
Unrealized Losses | 60 | 87 | |
Available-for-sale Securities | [1] | 27,270 | 26,770 |
US Treasury Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 3,020 | 1,913 | |
Unrealized Gains | 45 | 9 | |
Unrealized Losses | 0 | 1 | |
Available-for-sale Securities | 3,065 | 1,921 | |
US Government Agencies Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 408 | 471 | |
Unrealized Gains | 13 | 15 | |
Unrealized Losses | 1 | 2 | |
Available-for-sale Securities | 420 | 484 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 167 | 200 | |
Unrealized Gains | 7 | 9 | |
Unrealized Losses | 0 | 0 | |
Available-for-sale Securities | 174 | 209 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 22,452 | 22,573 | |
Unrealized Gains | 511 | 558 | |
Unrealized Losses | 58 | 83 | |
Available-for-sale Securities | 22,905 | 23,048 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 100 | 122 | |
Unrealized Gains | 2 | 2 | |
Unrealized Losses | 0 | 1 | |
Available-for-sale Securities | 102 | 123 | |
Asset-backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 13 | 19 | |
Unrealized Gains | 2 | 2 | |
Unrealized Losses | 0 | 0 | |
Available-for-sale Securities | 15 | 21 | |
Other Debt Obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 36 | 38 | |
Unrealized Gains | 2 | 3 | |
Unrealized Losses | 0 | 0 | |
Available-for-sale Securities | 38 | 41 | |
Equity Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | [2] | 551 | 921 |
Unrealized Gains | [2] | 1 | 2 |
Unrealized Losses | [2] | 1 | 0 |
Available-for-sale Securities | [2] | $ 551 | $ 923 |
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. | ||
[2] | At September 30, 2015, the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $111 million of mutual fund investments, and $6 million of other. At December 31, 2014, the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million of mutual fund investments, and $7 million of other. |
Securities Available for Sale49
Securities Available for Sale (Addition Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities, Gross Realized Gains | $ 11 | $ 3 | $ 25 | $ 3 | |||||
Available-for-sale Securities, Gross Realized Losses | (3) | 12 | 3 | 13 | |||||
Available-for-sale Securities | [1] | 27,270 | 27,270 | $ 26,770 | |||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities | 102 | 102 | 123 | ||||||
Equity Securities [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities | [2] | 551 | 551 | 923 | |||||
Federal Home Loan Bank (FHLB) of Atlanta stock (par value) | 32 | 32 | 376 | ||||||
Federal Reserve Bank Stock | 402 | 402 | 402 | ||||||
Mutual fund investments (par value) | 111 | 111 | 138 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities | 567 | 567 | 946 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Investments, Fair Value Disclosure | 6 | 6 | 7 | ||||||
Other Than Temporarily Impaired Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities | 22 | $ 19 | 22 | $ 19 | |||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Available-for-sale Securities | $ 440 | [3] | $ 440 | [3] | $ 785 | [4] | |||
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. | ||||||||
[2] | At September 30, 2015, the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $111 million of mutual fund investments, and $6 million of other. At December 31, 2014, the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million of mutual fund investments, and $7 million of other. | ||||||||
[3] | Includes $111 million of mutual fund investments, $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $6 million of other. | ||||||||
[4] | Includes $138 million of mutual fund investments, $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $7 million of other. |
Interest and dividends on SAFS
Interest and dividends on SAFS (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Interest Income, Securities, Taxable | $ 143 | $ 142 | $ 397 | $ 421 |
Interest Income, Securities, Tax Exempt | 2 | 2 | 5 | 8 |
Dividend Income, Operating | 8 | 9 | 28 | 27 |
Interest and Dividend Income, Securities, Available-for-sale | $ 153 | $ 153 | $ 430 | $ 456 |
Securities Available for Sale -
Securities Available for Sale - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Gross Realized Gains | $ 11 | $ 3 | $ 25 | $ 3 | ||
Available-for-sale Securities, Gross Realized Losses | (3) | 12 | 3 | 13 | ||
Available-for-sale Securities Pledged as Collateral | 2,900 | 2,900 | $ 2,600 | |||
Available-for-sale Securities | [1] | 27,270 | 27,270 | 26,770 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities | 102 | 102 | $ 123 | |||
Other Than Temporarily Impaired Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities | $ 22 | $ 19 | $ 22 | $ 19 | ||
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. |
Amortized Cost and Fair Value o
Amortized Cost and Fair Value of Investments in Debt Securities by Estimated Average Life (Detail) $ in Millions | Sep. 30, 2015USD ($) | |
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 2,687 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 12,278 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 5,954 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 5,277 | |
Distribution of Maturities: Amortized Cost, Total | 26,196 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 2,835 | |
Distribution of Maturities: Fair Value, 1-5 Years | 12,593 | |
Distribution of Maturities: Fair Value, 5-10 Years | 6,011 | |
Distribution of Maturities: Fair Value, After 10 Years | 5,280 | |
Distribution of Maturities: Fair Value, Total | $ 26,719 | |
Available For Sale Securities Debt Maturities, Yield, One Year Or Less | 2.35% | [1] |
Available For Sale Securities Debt Maturities, Yield, After One Through Five Years | 2.41% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Five Through Ten Years | 2.57% | [1] |
Available For Sale Securities Debt Maturities, Yield, After Ten Years | 2.80% | [1] |
Available For Sale Securities Debt Maturities, Yield | 2.52% | [1] |
US Treasury Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | $ 25 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 921 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 2,074 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 3,020 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 25 | |
Distribution of Maturities: Fair Value, 1-5 Years | 931 | |
Distribution of Maturities: Fair Value, 5-10 Years | 2,109 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 3,065 | |
US Government Agencies Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 159 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 109 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 14 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 126 | |
Distribution of Maturities: Amortized Cost, Total | 408 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 163 | |
Distribution of Maturities: Fair Value, 1-5 Years | 116 | |
Distribution of Maturities: Fair Value, 5-10 Years | 14 | |
Distribution of Maturities: Fair Value, After 10 Years | 127 | |
Distribution of Maturities: Fair Value, Total | 420 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 38 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 13 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 101 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 15 | |
Distribution of Maturities: Amortized Cost, Total | 167 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 39 | |
Distribution of Maturities: Fair Value, 1-5 Years | 13 | |
Distribution of Maturities: Fair Value, 5-10 Years | 106 | |
Distribution of Maturities: Fair Value, After 10 Years | 16 | |
Distribution of Maturities: Fair Value, Total | 174 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 2,462 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 11,098 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 3,756 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 5,136 | |
Distribution of Maturities: Amortized Cost, Total | 22,452 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 2,605 | |
Distribution of Maturities: Fair Value, 1-5 Years | 11,391 | |
Distribution of Maturities: Fair Value, 5-10 Years | 3,772 | |
Distribution of Maturities: Fair Value, After 10 Years | 5,137 | |
Distribution of Maturities: Fair Value, Total | 22,905 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 3 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 89 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 8 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 100 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 3 | |
Distribution of Maturities: Fair Value, 1-5 Years | 91 | |
Distribution of Maturities: Fair Value, 5-10 Years | 8 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 102 | |
Asset-backed Securities [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 12 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 1 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 13 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 13 | |
Distribution of Maturities: Fair Value, 5-10 Years | 2 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | 15 | |
Other Debt Obligations [Member] | ||
Distribution of Maturities: Amortized Cost, 1 Year or Less | 0 | |
Distribution of Maturities: Amortized Cost, 1-5 Years | 36 | |
Distribution of Maturities: Amortized Cost, 5-10 Years | 0 | |
Distribution of Maturities: Amortized Cost, After 10 Years | 0 | |
Distribution of Maturities: Amortized Cost, Total | 36 | |
Distribution of Maturities: Fair Value, 1 Year or Less | 0 | |
Distribution of Maturities: Fair Value, 1-5 Years | 38 | |
Distribution of Maturities: Fair Value, 5-10 Years | 0 | |
Distribution of Maturities: Fair Value, After 10 Years | 0 | |
Distribution of Maturities: Fair Value, Total | $ 38 | |
[1] | Weighted average yields are based on amortized cost and presented on an FTE basis. |
Securities with Unrealized Loss
Securities with Unrealized Losses (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | |||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | $ 4,033 | $ 2,586 | ||
Less than twelve months, Unrealized Losses | 36 | 8 | ||
Twelve months or longer, Fair Value | 1,026 | 5,057 | ||
Twelve months or longer, Unrealized Losses | 24 | 79 | ||
Total, Fair Value | 5,059 | 7,643 | ||
Total, Unrealized Losses | 60 | 87 | ||
Temporarily Impaired Securities | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 4,033 | 2,517 | ||
Less than twelve months, Unrealized Losses | 36 | 7 | ||
Twelve months or longer, Fair Value | 1,026 | 5,057 | ||
Twelve months or longer, Unrealized Losses | 24 | 79 | ||
Total, Fair Value | 5,059 | 7,574 | ||
Total, Unrealized Losses | 60 | 86 | ||
Temporarily Impaired Securities | US Treasury Securities [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 150 | |||
Less than twelve months, Unrealized Losses | 1 | |||
Twelve months or longer, Fair Value | 0 | |||
Twelve months or longer, Unrealized Losses | 0 | |||
Total, Fair Value | 150 | |||
Total, Unrealized Losses | 1 | |||
Temporarily Impaired Securities | US Government Agencies Debt Securities [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 33 | 20 | ||
Less than twelve months, Unrealized Losses | 0 | 0 | [1] | |
Twelve months or longer, Fair Value | 35 | 132 | ||
Twelve months or longer, Unrealized Losses | 1 | 2 | ||
Total, Fair Value | 68 | 152 | ||
Total, Unrealized Losses | 1 | 2 | ||
Temporarily Impaired Securities | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 3,996 | 2,347 | ||
Less than twelve months, Unrealized Losses | 35 | 6 | ||
Twelve months or longer, Fair Value | 982 | 4,911 | ||
Twelve months or longer, Unrealized Losses | 23 | 77 | ||
Total, Fair Value | 4,978 | 7,258 | ||
Total, Unrealized Losses | 58 | 83 | ||
Temporarily Impaired Securities | Asset-backed Securities [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 0 | 0 | ||
Less than twelve months, Unrealized Losses | 0 | 0 | ||
Twelve months or longer, Fair Value | 9 | 14 | ||
Twelve months or longer, Unrealized Losses | [1] | 0 | 0 | |
Total, Fair Value | 9 | 14 | ||
Total, Unrealized Losses | [1] | 0 | 0 | |
Temporarily Impaired Securities | Equity Securities [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | 4 | |||
Less than twelve months, Unrealized Losses | 1 | |||
Twelve months or longer, Fair Value | 0 | |||
Twelve months or longer, Unrealized Losses | [1] | 0 | ||
Total, Fair Value | 4 | |||
Total, Unrealized Losses | [1] | 1 | ||
Other Than Temporarily Impaired Securities [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | [2] | 0 | 69 | |
Less than twelve months, Unrealized Losses | [2] | 0 | 1 | |
Twelve months or longer, Fair Value | 0 | 0 | ||
Twelve months or longer, Unrealized Losses | 0 | 0 | ||
Total, Fair Value | [2] | 0 | 69 | |
Total, Unrealized Losses | [2] | $ 0 | 1 | |
Other Than Temporarily Impaired Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||
Investments, Unrealized Loss Position [Line Items] | ||||
Less than twelve months, Fair Value | [2] | 69 | ||
Less than twelve months, Unrealized Losses | [2] | 1 | ||
Twelve months or longer, Fair Value | 0 | |||
Twelve months or longer, Unrealized Losses | 0 | |||
Total, Fair Value | [2] | 69 | ||
Total, Unrealized Losses | [2] | $ 1 | ||
[1] | Unrealized losses less than $0.5 million are presented as zero within the table. | |||
[2] | Includes OTTI securities AFS for which credit losses have been recorded in earnings in current or prior periods. |
Gross Realized Gains and Losses
Gross Realized Gains and Losses on Sales and OTTI on Securities Available for Sale (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Available-for-sale Securities, Gross Realized Gains | $ 11 | $ 3 | $ 25 | $ 3 | ||
Available-for-sale Securities | [1] | 27,270 | 27,270 | $ 26,770 | ||
Available-for-sale Securities, Gross Realized Losses | 3 | (12) | (3) | (13) | ||
Gain (Loss) on Sale of Securities, Net | (7) | 9 | (21) | 11 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Available-for-sale Securities | 102 | 102 | $ 123 | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Other Than Temporarily Impaired Securities [Member] | ||||||
Available-for-sale Securities | $ 22 | $ 19 | $ 22 | $ 19 | ||
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. |
OTTI Losses on Available for Sa
OTTI Losses on Available for Sale Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | $ 25 | $ 25 |
Rollforward of Credit Losses Re
Rollforward of Credit Losses Recognized in Earnings Related to Securities (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities | [1] | $ 27,270 | $ 26,770 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities | 102 | $ 123 | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Other Than Temporarily Impaired Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities | $ 22 | $ 19 | ||
[1] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. |
Loans - Additional Information
Loans - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | [1] | $ 62 | $ 62 | $ 99 | ||
Loans transferred from loans to loans held for sale | 38 | $ 362 | 1,734 | $ 3,183 | ||
Transfer of Loans Held-for-sale to Portfolio Loans | 75 | 19 | 726 | 39 | ||
Loans held for investment sold | 178 | 2,300 | 1,994 | 2,954 | ||
Gain (Loss) on Sales of Loans, Net | 9 | $ 40 | 22 | $ 71 | ||
Long-term Debt | [2] | 8,444 | 8,444 | 13,022 | ||
Other Short-term Borrowings | 1,077 | 1,077 | 5,634 | |||
Letters of Credit Outstanding, Amount | 6,200 | 6,200 | 7,900 | |||
Loans held for investment | [3] | 133,560 | 133,560 | 133,112 | ||
Accrual Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage Loans in Process of Foreclosure, Amount | [4] | 169 | 169 | 194 | ||
Financing Receivable, Modifications, Recorded Investment | $ 2,500 | $ 2,500 | $ 2,500 | |||
Accruing TDRs current | 96.73% | 96.73% | 96.00% | |||
Nonaccrual loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage Loans in Process of Foreclosure, Amount | [4] | $ 99 | $ 99 | $ 152 | ||
Proceeds due from FHA or VA [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage Loans in Process of Foreclosure, Amount | [4] | 158 | 158 | 179 | ||
Other Real Estate | [4] | $ 50 | $ 50 | $ 57 | ||
Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 32.00% | 32.00% | 28.00% | |||
Loans held for investment | $ 627 | $ 627 | $ 632 | |||
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percentage of Loan Portfolio Current | 81.00% | 81.00% | 79.00% | |||
Loans held for investment | $ 4,588 | $ 4,588 | $ 4,827 | |||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 73,302 | 73,302 | 73,392 | |||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | 38,788 | 38,788 | 38,775 | |||
Home Equity Line of Credit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans held for investment | [5] | 13,416 | 13,416 | 14,264 | ||
Minimum [Member] | Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Individually Evaluated For Impairment | 3 | 3 | ||||
Cross-Border Outstanding Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Foreign | $ 1,400 | $ 1,400 | $ 1,300 | |||
Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan subcategory as a percent of total loans | 29.00% | 29.00% | 29.00% | |||
Government Guarantee Percent | 2.00% | 2.00% | 2.00% | |||
Home Equity Line of Credit [Member] | Credit Concentration Risk [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | $ 10,600 | $ 10,600 | $ 10,900 | |||
Mortgage Loans on Real Estate [Member] | Credit Concentration Risk [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unused Commitments to Extend Credit | 4,000 | 4,000 | 3,300 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Short-term Borrowings | 4,000 | |||||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Long-term Debt | 408 | 408 | 4,000 | |||
Federal Reserve Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 23,300 | 23,300 | 26,500 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 17,000 | 17,000 | 18,400 | |||
Federal Home Loan Bank Advances [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans Pledged as Collateral | 32,000 | 32,000 | 31,200 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 26,200 | 26,200 | 24,300 | |||
Foreclosed [Member] | Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | [1] | 8 | 8 | 16 | ||
Foreclosed [Member] | Residential Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other Real Estate | [1] | $ 50 | $ 50 | $ 75 | ||
[1] | Does not include foreclosed real estate related to loans insured by the FHA or the VA. Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $50 million and $57 million at September 30, 2015 and December 31, 2014, respectively. | |||||
[2] | Includes debt of consolidated VIEs of $270 million and $302 million at September 30, 2015 and December 31, 2014, respectively. | |||||
[3] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | |||||
[4] | Nonaccruing restructured loans are included in total nonaccrual/NPLs. | |||||
[5] | Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014, respectively. |
Composition of the Company's Lo
Composition of the Company's Loan Portfolio (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [1] | $ 133,560 | $ 133,112 |
Loans Held for Sale | [2] | 2,032 | 3,232 |
Commercial and Industrial Sector [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 65,371 | 65,440 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 73,302 | 73,392 | |
Residential Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 38,788 | 38,775 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 4,588 | 4,827 | |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 21,470 | 20,945 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 6,168 | 6,741 | |
Commercial Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 1,763 | 1,211 | |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 627 | 632 | |
Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [3],[4] | 24,351 | 23,443 |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [3] | 13,416 | 14,264 |
Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [3] | 394 | 436 |
Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [5] | 5,771 | 4,573 |
Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [5] | 10,119 | 10,644 |
Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [5] | $ 992 | $ 901 |
[1] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | ||
[2] | Includes $1.9 billion of LHFS measured at fair value at both September 30, 2015 and December 31, 2014. | ||
[3] | Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014, respectively. | ||
[4] | Includes $262 million of loans measured at fair value, the majority of which were accruing current. | ||
[5] | Excludes $4.6 billion and $4.8 billion of guaranteed student loans at September 30, 2015 and December 31, 2014, respectively. |
Composition of the Company's 59
Composition of the Company's Loan Portfolio (Additional Information) (Detail) $ in Millions | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current Weighted Average FICO Score on Mortgages With Potential Concentration of Credit Risk | 744 | 738 |
Loans Receivable, Fair Value Disclosure | $ 262 | $ 272 |
Loans Held-for-sale, Fair Value Disclosure | 1,883 | 1,892 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 262 | $ 272 |
LHFI by Credit Quality Indicato
LHFI by Credit Quality Indicator (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [1] | $ 133,560 | $ 133,112 |
Financing Receivable, Recorded Investment, Nonaccrual Status | [2],[3] | 463 | 634 |
Commercial and Industrial Sector [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 65,371 | 65,440 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 122 | 151 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 6,168 | 6,741 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 15 | 21 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 6,168 | 6,741 | |
Commercial Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 1,763 | 1,211 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1 | 1 | |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 627 | 632 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4],[5] | 24,351 | 23,443 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 156 | 254 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 13,416 | 14,264 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 146 | 174 | |
Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 394 | 436 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 16 | 27 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 4,588 | 4,827 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 5,771 | 4,573 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4 | 6 | |
Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 10,119 | 10,644 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3 | 0 | |
Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 992 | 901 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Pass | Commercial and Industrial Sector [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 63,826 | 64,228 | |
Pass | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 6,033 | 6,586 | |
Pass | Commercial Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 1,739 | 1,196 | |
Criticized Accruing | Commercial and Industrial Sector [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 1,423 | 1,061 | |
Criticized Accruing | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 120 | 134 | |
Criticized Accruing | Commercial Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | 23 | 14 | |
FICO Score 700 and Above [Member] | Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 19,936 | 18,780 |
FICO Score 700 and Above [Member] | Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 10,897 | 11,475 |
FICO Score 700 and Above [Member] | Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 321 | 347 |
FICO Score 700 and Above [Member] | Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 5,180 | 4,023 |
FICO Score 700 and Above [Member] | Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 7,053 | 7,661 |
FICO Score 700 and Above [Member] | Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 690 | 639 |
FICO Score Between 620 and 699 | Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 3,330 | 3,369 |
FICO Score Between 620 and 699 | Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 1,827 | 1,991 |
FICO Score Between 620 and 699 | Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4] | 59 | 70 |
FICO Score Between 620 and 699 | Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 536 | 476 |
FICO Score Between 620 and 699 | Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 2,426 | 2,335 |
FICO Score Between 620 and 699 | Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6] | 245 | 212 |
FICO Score Below 620 | Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4],[7] | 1,085 | 1,294 |
FICO Score Below 620 | Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4],[7] | 692 | 798 |
FICO Score Below 620 | Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [4],[7] | 14 | 19 |
FICO Score Below 620 | Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6],[7] | 55 | 74 |
FICO Score Below 620 | Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6],[7] | 640 | 648 |
FICO Score Below 620 | Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for investment | [6],[7] | $ 57 | $ 50 |
[1] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | ||
[2] | Nonaccruing loans past due 90 days or more totaled $278 million. Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDRs and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. | ||
[3] | Nonaccruing restructured loans are included in total nonaccrual/NPLs. | ||
[4] | Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014, respectively. | ||
[5] | Includes $262 million of loans measured at fair value, the majority of which were accruing current. | ||
[6] | Excludes $4.6 billion and $4.8 billion of guaranteed student loans at September 30, 2015 and December 31, 2014, respectively. | ||
[7] | For substantially all loans with refreshed FICO scores below 620, the borrower’s FICO score at the time of origination exceeded 620 but has since deteriorated as the loan has seasoned. |
LHFI by Credit Quality Indica61
LHFI by Credit Quality Indicator (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | [1] | $ 133,560 | $ 133,112 |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | 627 | 632 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Gross | $ 4,588 | $ 4,827 | |
[1] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. |
Payment Status for the LHFI Por
Payment Status for the LHFI Portfolio (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | $ 131,381 | $ 130,575 | |
Accruing 30-89 Days Past Due | 811 | 846 | |
Accruing 90+ Days Past Due | 905 | 1,057 | |
Nonaccruing | [1],[2] | 463 | 634 |
Total | [3] | 133,560 | 133,112 |
Commercial and Industrial Sector [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 65,148 | 65,246 | |
Accruing 30-89 Days Past Due | 89 | 36 | |
Accruing 90+ Days Past Due | 12 | 7 | |
Nonaccruing | 122 | 151 | |
Total | 65,371 | 65,440 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 6,150 | 6,716 | |
Accruing 30-89 Days Past Due | 2 | 3 | |
Accruing 90+ Days Past Due | 1 | 1 | |
Nonaccruing | 15 | 21 | |
Total | 6,168 | 6,741 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 6,168 | 6,741 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 73,060 | 73,171 | |
Accruing 30-89 Days Past Due | 91 | 40 | |
Accruing 90+ Days Past Due | 13 | 8 | |
Nonaccruing | [1] | 138 | 173 |
Total | 73,302 | 73,392 | |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 200 | 176 | |
Accruing 30-89 Days Past Due | 51 | 34 | |
Accruing 90+ Days Past Due | 376 | 422 | |
Nonaccruing | 0 | 0 | |
Total | 627 | 632 | |
Commercial Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 1,762 | 1,209 | |
Accruing 30-89 Days Past Due | 0 | 1 | |
Accruing 90+ Days Past Due | 0 | 0 | |
Nonaccruing | 1 | 1 | |
Total | 1,763 | 1,211 | |
Residential Nonguaranteed [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | [4] | 24,081 | 23,067 |
Accruing 30-89 Days Past Due | [4] | 105 | 108 |
Accruing 90+ Days Past Due | [4] | 9 | 14 |
Nonaccruing | 156 | 254 | |
Total | [4],[5] | 24,351 | 23,443 |
Residential Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 37,845 | 37,634 | |
Accruing 30-89 Days Past Due | 240 | 250 | |
Accruing 90+ Days Past Due | 385 | 436 | |
Nonaccruing | [1] | 318 | 455 |
Total | 38,788 | 38,775 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 13,189 | 13,989 | |
Accruing 30-89 Days Past Due | 81 | 101 | |
Accruing 90+ Days Past Due | 0 | 0 | |
Nonaccruing | 146 | 174 | |
Total | [5] | 13,416 | 14,264 |
Residential Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 375 | 402 | |
Accruing 30-89 Days Past Due | 3 | 7 | |
Accruing 90+ Days Past Due | 0 | 0 | |
Nonaccruing | 16 | 27 | |
Total | [5] | 394 | 436 |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 3,724 | 3,801 | |
Accruing 30-89 Days Past Due | 367 | 425 | |
Accruing 90+ Days Past Due | 497 | 601 | |
Nonaccruing | 0 | 0 | |
Total | 4,588 | 4,827 | |
Consumer Other Direct [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 5,742 | 4,545 | |
Accruing 30-89 Days Past Due | 22 | 19 | |
Accruing 90+ Days Past Due | 3 | 3 | |
Nonaccruing | 4 | 6 | |
Total | [6] | 5,771 | 4,573 |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 20,476 | 19,770 | |
Accruing 30-89 Days Past Due | 480 | 556 | |
Accruing 90+ Days Past Due | 507 | 613 | |
Nonaccruing | [1] | 7 | 6 |
Total | 21,470 | 20,945 | |
Consumer Indirect [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 10,032 | 10,537 | |
Accruing 30-89 Days Past Due | 83 | 104 | |
Accruing 90+ Days Past Due | 1 | 3 | |
Nonaccruing | 3 | 0 | |
Total | [6] | 10,119 | 10,644 |
Credit Card Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accruing Current | 978 | 887 | |
Accruing 30-89 Days Past Due | 8 | 8 | |
Accruing 90+ Days Past Due | 6 | 6 | |
Nonaccruing | 0 | 0 | |
Total | [6] | $ 992 | $ 901 |
[1] | Nonaccruing loans past due 90 days or more totaled $278 million. Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDRs and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. | ||
[2] | Nonaccruing restructured loans are included in total nonaccrual/NPLs. | ||
[3] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. | ||
[4] | Includes $262 million of loans measured at fair value, the majority of which were accruing current. | ||
[5] | Excludes $627 million and $632 million of guaranteed residential loans at September 30, 2015 and December 31, 2014, respectively. | ||
[6] | Excludes $4.6 billion and $4.8 billion of guaranteed student loans at September 30, 2015 and December 31, 2014, respectively. |
Payment Status for the LHFI P63
Payment Status for the LHFI Portfolio (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 262 | $ 272 |
Nonaccruing 90 Plus Days Past Due | 278 | 388 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 262 | $ 272 |
LHFI Considered Impaired (Detai
LHFI Considered Impaired (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 269 | $ 269 | $ 319 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 2,975 | 2,975 | 3,108 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 2,690 | 2,690 | 2,781 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,708 | $ 3,042 | 2,737 | $ 3,023 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 31 | 33 | 96 | 106 | |||||
Commercial and Industrial Sector [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 59 | 59 | 70 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 49 | 49 | 51 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7 | 7 | 7 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 14 | 14 | 27 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 12 | 12 | 26 | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 51 | 65 | 53 | 68 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | [2] | 0 | 1 | [2] | 1 | [2] | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 20 | 45 | 23 | 46 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | 1 | [2] | 1 | [2] | ||||
Commercial Portfolio Segment [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 70 | 70 | 82 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 58 | 58 | 62 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7 | 7 | 11 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 14 | 14 | 31 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 12 | 12 | 30 | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 60 | 80 | 63 | 84 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | [2] | 0 | 1 | [2] | 1 | [2] | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 20 | 55 | 23 | 55 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | 1 | [2] | 1 | [2] | ||||
Residential Portfolio Segment [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 455 | 455 | 623 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 335 | 335 | 434 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 255 | 255 | 300 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 2,288 | 2,288 | 2,229 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 2,156 | 2,156 | 2,129 | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 339 | 468 | 346 | 482 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 5 | 11 | 14 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,157 | 2,299 | 2,167 | 2,267 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 26 | 27 | 79 | 85 | |||||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7 | 7 | 8 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 148 | 148 | 143 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 129 | 129 | 126 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 132 | 140 | 138 | 135 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 1 | 1 | 4 | 5 | |||||
Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 11 | 11 | 12 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 9 | 9 | 11 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 4 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 0 | 0 | 4 | |||||||
Impaired Financing Receivable, Recorded Investment | 0 | 0 | 4 | [1] | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9 | 15 | 10 | 16 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 10 | 0 | 9 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||||||
Residential Nonguaranteed [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 431 | 431 | 592 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 326 | 326 | 425 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 181 | 181 | 215 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 1,451 | 1,451 | 1,381 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 1,395 | 1,395 | 1,354 | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 330 | 454 | 335 | 467 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | [2] | 4 | 5 | 11 | 14 | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,393 | 1,467 | 1,396 | 1,443 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 17 | 18 | 52 | 59 | |||||
Home Equity Line of Credit [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 60 | 60 | 66 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 709 | 709 | 703 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 637 | 637 | 630 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 640 | 668 | 646 | 662 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 7 | 7 | 21 | 20 | |||||
Residential Construction [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 24 | 24 | 31 | |||||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [1] | 9 | 9 | 9 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 14 | 14 | 19 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 128 | 128 | 145 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 124 | 124 | 145 | ||||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9 | 14 | 11 | 15 | ||||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 124 | 164 | 125 | 162 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 2 | 2 | 6 | 6 | |||||
Consumer Other Direct [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 1 | 1 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 11 | 11 | 13 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 11 | 11 | 13 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 12 | 14 | 12 | 14 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||||||
Consumer Indirect [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 5 | 5 | 5 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 113 | 113 | 105 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 112 | 112 | 105 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 114 | 116 | 119 | 110 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | [2] | 1 | 1 | 4 | 4 | |||||
Credit Card Receivable [Member] | ||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 1 | 2 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 24 | 24 | 25 | |||||||
Impaired Financing Receivable, Recorded Investment | [1] | 6 | 6 | $ 8 | ||||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6 | 10 | 7 | 11 | ||||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | $ 0 | $ 0 | $ 0 | $ 1 | [2] | |||||
[1] | Amortized cost reflects charge-offs that have been recognized plus other amounts that have been applied to reduce the net book balance. | |||||||||
[2] | Of the interest income recognized during the three and nine months ended September 30, 2015, cash basis interest income was $1 million and $3 million, respectively.Of the interest income recognized during the three and nine months ended September 30, 2014, cash basis interest income was less than $1 million and $2 million, respectively. |
LHFI Considered Impaired (Addit
LHFI Considered Impaired (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 1 | $ 1 | $ 3 | $ 2 |
Nonperforming Assets (Detail)
Nonperforming Assets (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Nonaccruing | [1],[2] | $ 463 | $ 634 |
OREO | [3] | 62 | 99 |
Other repossessed assets | 7 | 9 | |
Loans Held-for-sale, Other | 0 | 38 | |
Total nonperforming assets | 532 | 780 | |
Commercial and Industrial Sector [Member] | |||
Nonaccruing | 122 | 151 | |
Commercial Real Estate [Member] | |||
Nonaccruing | 15 | 21 | |
Commercial Construction [Member] | |||
Nonaccruing | 1 | 1 | |
Residential Nonguaranteed [Member] | |||
Nonaccruing | 156 | 254 | |
Home Equity Line of Credit [Member] | |||
Nonaccruing | 146 | 174 | |
Residential Construction [Member] | |||
Nonaccruing | 16 | 27 | |
Consumer Other Direct [Member] | |||
Nonaccruing | 4 | 6 | |
Consumer Indirect [Member] | |||
Nonaccruing | $ 3 | $ 0 | |
[1] | Nonaccruing loans past due 90 days or more totaled $278 million. Nonaccruing loans past due fewer than 90 days include modified nonaccrual loans reported as TDRs and performing second lien loans which are classified as nonaccrual when the first lien loan is nonperforming. | ||
[2] | Nonaccruing restructured loans are included in total nonaccrual/NPLs. | ||
[3] | Does not include foreclosed real estate related to loans insured by the FHA or the VA. Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $50 million and $57 million at September 30, 2015 and December 31, 2014, respectively. |
Nonperforming Assets (Additiona
Nonperforming Assets (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Other Real Estate | [1] | $ 62 | $ 99 |
Proceeds due from FHA or VA [Member] | |||
Other Real Estate | [2] | $ 50 | $ 57 |
[1] | Does not include foreclosed real estate related to loans insured by the FHA or the VA. Proceeds due from the FHA and the VA are recorded as a receivable in other assets in the Consolidated Balance Sheets until the funds are received and the property is conveyed. The receivable amount related to proceeds due from the FHA or the VA totaled $50 million and $57 million at September 30, 2015 and December 31, 2014, respectively. | ||
[2] | Nonaccruing restructured loans are included in total nonaccrual/NPLs. |
Loans TDR Modifications (Detail
Loans TDR Modifications (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | |||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 1,396 | [1] | 1,575 | [2] | 4,674 | [1] | 5,030 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 3 | [1],[3] | $ 2 | [2],[4] | $ 10 | [1],[3] | $ 11 | [2],[4] |
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 40 | [1] | 28 | [2] | 118 | [1] | 114 | [2] |
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 44 | [1] | 50 | [2] | 127 | [1] | 166 | [2] |
Financing Receivable, Amount Restructured During Period | $ 87 | [1] | $ 80 | [2] | $ 255 | [1] | $ 291 | [2] |
Commercial and Industrial Sector [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 18 | [1] | 23 | [2] | 63 | [1] | 66 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 0 | 0 | 1 | [1] | 0 | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 8 | [2] | 5 | [1] | 22 | [2] | |
Financing Receivable, Amount Restructured During Period | $ 0 | $ 8 | [2] | $ 6 | [1] | $ 22 | [2] | |
Credit Card Receivable [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 157 | [1] | 123 | [2] | 529 | [1] | 350 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 1 | [1] | 1 | [2] | 2 | [1] | 2 | [2] |
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Amount Restructured During Period | $ 1 | [1] | $ 1 | [2] | $ 2 | [1] | $ 2 | [2] |
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 1 | [1] | 4 | [2] | ||||
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 3 | [2],[4] | |||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 0 | 0 | ||||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 3 | [2] | |||||
Financing Receivable, Amount Restructured During Period | $ 0 | $ 6 | [2] | |||||
Residential Nonguaranteed [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 175 | [1] | 266 | [2] | 632 | [1] | 944 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 3 | [1],[3] | $ 2 | [2],[4] | $ 10 | [1],[3] | $ 8 | [2],[4] |
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 32 | [1] | 26 | [2] | 95 | [1] | 105 | [2] |
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 10 | [1] | 8 | [2] | 20 | [1] | 38 | [2] |
Financing Receivable, Amount Restructured During Period | $ 45 | [1] | $ 36 | [2] | $ 125 | [1] | $ 151 | [2] |
Home Equity Line of Credit [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 419 | [1] | 503 | [2] | 1,386 | [1] | 1,407 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 7 | [1] | 1 | [2] | 20 | [1] | 6 | [2] |
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 21 | [1] | 22 | [2] | 62 | [1] | 59 | [2] |
Financing Receivable, Amount Restructured During Period | $ 28 | [1] | $ 23 | [2] | $ 82 | [1] | $ 65 | [2] |
Residential Construction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 6 | [1] | 1 | [2] | 17 | [1] | 11 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 0 | 0 | 0 | 1 | [2] | |||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Amount Restructured During Period | $ 0 | $ 0 | $ 0 | $ 1 | [2] | |||
Consumer Other Direct [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 10 | [1] | 21 | [2] | 47 | [1] | 59 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 0 | 0 | 1 | [1] | 1 | [2] | ||
Financing Receivable, Amount Restructured During Period | $ 0 | $ 0 | $ 1 | [1] | $ 1 | [2] | ||
Consumer Indirect [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Restructured During Period, Number Of Contracts | contracts | 611 | [1] | 638 | [2] | 1,999 | [1] | 2,189 | [2] |
Financing Receivable, Amount Restructured During Period, Principal Forgiveness Granted | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Amount Restructured During Period, Rate Modifications Granted | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Amount Restructured During Period, Term Extension and/or Other Concessions Granted | 13 | [1] | 12 | [2] | 39 | [1] | 43 | [2] |
Financing Receivable, Amount Restructured During Period | $ 13 | [1] | $ 12 | [2] | $ 39 | [1] | $ 43 | [2] |
[1] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||
[2] | Includes loans modified under the terms of a TDR that were charged-off during the period. | |||||||
[3] | Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2015 was immaterial. | |||||||
[4] | Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term extensions. The total amount of charge-offs associated with principal forgiveness during both the three and nine months ended September 30, 2014 was immaterial. |
Loans Troubled Debt Restructuri
Loans Troubled Debt Restructurings (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | Sep. 30, 2015USD ($)contracts | Sep. 30, 2014USD ($)contracts | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 142 | 212 | 366 | 578 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 5 | $ 10 | $ 18 | $ 30 |
Commercial and Industrial Sector [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 13 | 30 | 25 | 77 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 0 | $ 3 | $ 1 | $ 8 |
Residential Nonguaranteed [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 25 | 46 | 80 | 135 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 3 | $ 6 | $ 12 | $ 16 |
Home Equity Line of Credit [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 33 | 28 | 95 | 75 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 2 | $ 1 | $ 4 | $ 4 |
Residential Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 0 | 6 | ||
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 0 | $ 0 | ||
Consumer Other Direct [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 2 | 3 | 3 | 8 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Indirect [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 47 | 45 | 118 | 134 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 0 | $ 0 | $ 1 | $ 1 |
Credit Card Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Restructured, Payment Default During Peiriod, Number of Contracts | contracts | 22 | 60 | 45 | 143 |
Financing Receivable, Restructured, Payment Default During Period, Amortized Cost at Default | $ 0 | $ 0 | $ 0 | $ 1 |
Loans Mortgages With Potential
Loans Mortgages With Potential Concentration of Credit Risk (Details) $ in Millions | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair Value, Concentration of Risk, Loans Receivable | $ 10,666 | $ 11,421 | |
Current Weighted Average FICO Score on Mortgages With Potential Concentration of Credit Risk | 744 | 738 | |
Residential Mortgage Amortizing Loans [Member] | Mortgages With LTV Ratio Greater Than 80% and/or second liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair Value, Concentration of Risk, Loans Receivable | [1] | $ 8,154 | $ 7,368 |
Residential Mortgage Interest Only Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair Value, Concentration of Risk, Loans Receivable | [2] | 2,512 | 4,053 |
Residential Mortgage Interest Only Loans [Member] | Mortgages With Mortgage Insurance or With LTV Ratio Less Than or Equal to 80% [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair Value, Concentration of Risk, Loans Receivable | [2] | 1,892 | 3,180 |
Residential Mortgage Interest Only Loans [Member] | Mortgages With No Mortgage Insurance and With LTV Ratio Greater Than 80% [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair Value, Concentration of Risk, Loans Receivable | [2] | $ 620 | $ 873 |
[1] | Comprised of loans with no MI | ||
[2] | Comprised of first and/or second liens, primarily with an initial 10 year interest only period. |
Activity in the Allowance for C
Activity in the Allowance for Credit Losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | ||
Components: | |||||||||||
Balance at beginning of period | $ 1,886 | $ 2,046 | $ 1,991 | $ 2,094 | |||||||
Provision for loan losses | 23 | 93 | 107 | 275 | |||||||
Provision for Other Credit Losses | (9) | 0 | (7) | 7 | |||||||
Allowance for Loan and Lease Losses, Write-offs | (102) | (164) | (356) | (473) | |||||||
Loan recoveries | 31 | 36 | 98 | 122 | |||||||
Balance at end of period | 1,847 | 2,011 | 1,847 | 2,011 | |||||||
Loans and Leases Receivable, Allowance | $ 1,786 | $ 1,834 | $ 1,937 | $ 1,968 | $ 2,003 | $ 2,044 | |||||
Unfunded commitments reserve | [1] | 61 | 43 | ||||||||
Allowance for credit losses | $ 1,886 | $ 2,046 | $ 1,991 | $ 2,094 | $ 1,847 | $ 1,886 | $ 1,991 | $ 2,011 | $ 2,046 | $ 2,094 | |
[1] | The unfunded commitments reserve is recorded in other liabilities in the Consolidated Balance Sheets. |
Activity in the ALLL by segment
Activity in the ALLL by segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | $ 1,834 | $ 2,003 | $ 1,937 | $ 2,044 |
Provision for loan losses | 23 | 93 | 107 | 275 |
Allowance for Loan and Lease Losses, Write-offs | (102) | (164) | (356) | (473) |
Loan recoveries | 31 | 36 | 98 | 122 |
Balance at end of period | 1,786 | 1,968 | 1,786 | 1,968 |
Commercial Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 993 | 958 | 986 | 946 |
Provision for loan losses | 33 | 25 | 74 | 82 |
Allowance for Loan and Lease Losses, Write-offs | (23) | (26) | (82) | (97) |
Loan recoveries | 10 | 14 | 35 | 40 |
Balance at end of period | 1,013 | 971 | 1,013 | 971 |
Residential Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 676 | 875 | 777 | 930 |
Provision for loan losses | (39) | 34 | (30) | 114 |
Allowance for Loan and Lease Losses, Write-offs | (47) | (104) | (177) | (279) |
Loan recoveries | 11 | 12 | 31 | 52 |
Balance at end of period | 601 | 817 | 601 | 817 |
Consumer Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance at beginning of period | 165 | 170 | 174 | 168 |
Provision for loan losses | 29 | 34 | 63 | 79 |
Allowance for Loan and Lease Losses, Write-offs | (32) | (34) | (97) | (97) |
Loan recoveries | 10 | 10 | 32 | 30 |
Balance at end of period | $ 172 | $ 180 | $ 172 | $ 180 |
Loans Held for Investment portf
Loans Held for Investment portfolio and Related Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Individually evaluated | $ 2,690 | $ 2,781 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 269 | 319 | |||||
Collectively evaluated | 130,608 | 130,059 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,517 | 1,618 | |||||
Total evaluated | 133,298 | 132,840 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,786 | 1,937 | |||||
Loans Receivable, Fair Value Disclosure | 262 | 272 | |||||
Total | [1] | 133,560 | 133,112 | ||||
Loans and Leases Receivable, Allowance | 1,786 | $ 1,834 | 1,937 | $ 1,968 | $ 2,003 | $ 2,044 | |
Commercial Portfolio Segment [Member] | |||||||
Individually evaluated | 70 | 92 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7 | 11 | |||||
Collectively evaluated | 73,232 | 73,300 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,006 | 975 | |||||
Total evaluated | 73,302 | 73,392 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 1,013 | 986 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Total | 73,302 | 73,392 | |||||
Loans and Leases Receivable, Allowance | 1,013 | 993 | 986 | 971 | 958 | 946 | |
Residential Portfolio Segment [Member] | |||||||
Individually evaluated | 2,491 | 2,563 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 255 | 300 | |||||
Collectively evaluated | 36,035 | 35,940 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 346 | 477 | |||||
Total evaluated | 38,526 | 38,503 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 601 | 777 | |||||
Loans Receivable, Fair Value Disclosure | 262 | 272 | |||||
Total | 38,788 | 38,775 | |||||
Loans and Leases Receivable, Allowance | 601 | 676 | 777 | 817 | 875 | 930 | |
Consumer Portfolio Segment [Member] | |||||||
Individually evaluated | 129 | 126 | |||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 7 | 8 | |||||
Collectively evaluated | 21,341 | 20,819 | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 165 | 166 | |||||
Total evaluated | 21,470 | 20,945 | |||||
Loans And Leases Receivable Allowance Loans Evaluated For Impairment Excluding Fair Value Loans | 172 | 174 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Total | 21,470 | 20,945 | |||||
Loans and Leases Receivable, Allowance | $ 172 | $ 165 | $ 174 | $ 180 | $ 170 | $ 168 | |
[1] | Includes loans of consolidated VIEs of $256 million and $288 million at September 30, 2015 and December 31, 2014, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Bank Servicing Fees | $ 40 | $ 44 | $ 113 | $ 143 | ||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 256,461 | 256,461 | $ 248,646 | ||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,262 | 1,206 | |||||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 118,663 | 118,663 | 110,591 | ||||
Mortgage Servicing Rights, Fair Value [Member] | ||||||||
Bank Servicing Fees | 89 | 81 | 254 | 241 | ||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 149,200 | 149,200 | 142,100 | |||||
Principal Amount Outstanding of Loans Serviced For Third Parties | 122,000 | 122,000 | 115,500 | |||||
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased | 10,300 | 9,000 | ||||||
Unpaid Principal Balance of Outstanding Underlying MSRs Transferred | 10,300 | |||||||
Principal Amount Sold on Loans Serviced for Third Parties | 590 | 612 | ||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,305 | 1,262 | 1,305 | 1,206 | $ 1,300 | ||
indirect auto loan servicing rights [Member] | ||||||||
Bank Servicing Fees | 2 | $ 0 | 3 | $ 0 | ||||
Servicing Asset | $ 13 | |||||||
Servicing Asset at Fair Value, Amount | 11 | 11 | ||||||
Servicing Asset at Amortized Cost | 11 | 11 | ||||||
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 889 | 889 | $ 0 | ||||
Proceeds from Securitizations of Consumer Loans | $ 1,000 | |||||||
[1] | Excludes $2.0 billion and $3.2 billion of LHFS at September 30, 2015 and December 31, 2014, respectively. |
Goodwill and Other Intangible75
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | |
Goodwill [Line Items] | ||
Goodwill | $ 6,369 | |
Goodwill, Transfers | 8 | |
Goodwill, Written off Related to Sale of Business Unit | $ 40 | |
Goodwill | 6,337 | 6,337 |
Consumer Banking and Private Wealth Management [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 4,262 | |
Goodwill, Transfers | 0 | |
Goodwill, Written off Related to Sale of Business Unit | 0 | |
Goodwill | 4,262 | 4,262 |
Wholesale Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,107 | |
Goodwill, Transfers | 8 | |
Goodwill, Written off Related to Sale of Business Unit | 40 | |
Goodwill | $ 2,075 | $ 2,075 |
Goodwill and Other Intangible76
Goodwill and Other Intangible Assets - Changes in the Carrying Amounts of Other Intangible Assets (Detail) - USD ($) $ in Millions | 9 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 256,461 | $ 248,646 | |||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,206 | ||||||
Intangible Assets, Net (Excluding Goodwill) | 1,282 | $ 1,320 | 1,219 | $ 1,334 | ||||
Amortization | [2] | (6) | (10) | |||||
Origination of Mortgage Servicing Rights (MSRs) | 198 | 137 | ||||||
Servicing Assets at Fair Value, Purchased | 109 | 109 | ||||||
Due to changes in inputs or assumptions | [3] | (74) | (117) | |||||
Servicing Asset at Fair Value, Other Changes in Fair Value | [4] | (161) | (123) | |||||
Servicing Asset at Fair Value, Disposals | (3) | (1) | ||||||
Intangible Assets, Written off Related to Sale of Business Unit | (9) | |||||||
indirect auto loan servicing rights [Member] | ||||||||
Servicing Asset | $ 13 | |||||||
Servicing Asset at Fair Value, Amount | 11 | |||||||
Mortgage Servicing Rights, Fair Value [Member] | ||||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | 149,200 | 142,100 | ||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,305 | 1,206 | 1,300 | ||||
Amortization | 0 | 0 | ||||||
Origination of Mortgage Servicing Rights (MSRs) | 185 | 137 | ||||||
Servicing Assets at Fair Value, Purchased | 109 | 109 | ||||||
Due to changes in inputs or assumptions | (74) | [2] | (117) | [3] | ||||
Servicing Asset at Fair Value, Other Changes in Fair Value | [4] | (161) | (123) | |||||
Servicing Asset at Fair Value, Disposals | (3) | (1) | ||||||
Intangible Assets, Written off Related to Sale of Business Unit | 0 | |||||||
Principal Amount Outstanding of Loans Serviced For Third Parties | 122,000 | 115,500 | ||||||
Unpaid Principal Balance of Outstanding Underlying MSRs Purchased | 10,300 | 9,000 | ||||||
Principal Amount Sold on Loans Serviced for Third Parties | 590 | 612 | ||||||
Other Intangible Assets [Member] | ||||||||
Intangible Assets, Net (Excluding Goodwill) | 20 | 15 | $ 13 | $ 34 | ||||
Amortization | [2] | (6) | (10) | |||||
Origination of Mortgage Servicing Rights (MSRs) | 13 | 0 | ||||||
Servicing Assets at Fair Value, Purchased | 0 | 0 | ||||||
Due to changes in inputs or assumptions | 0 | 0 | ||||||
Servicing Asset at Fair Value, Other Changes in Fair Value | 0 | 0 | ||||||
Servicing Asset at Fair Value, Disposals | $ 0 | 0 | ||||||
Intangible Assets, Written off Related to Sale of Business Unit | $ (9) | |||||||
[1] | Excludes $2.0 billion and $3.2 billion of LHFS at September 30, 2015 and December 31, 2014, respectively. | |||||||
[2] | Does not include amortization of tax credits for non-qualified community development investments. See Note 8, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. | |||||||
[3] | Primarily reflects changes in option adjusted spreads and prepayment speed assumptions, due to changes in interest rates. | |||||||
[4] | Represents changes due to the collection of expected cash flows, net of accretion, due to the passage of time. |
Goodwill and Other Intangible77
Goodwill and Other Intangible Assets - Summary of the Key Characteristics, Inputs, and Economic Assumptions Used to Estimate the Fair Value of the Company's MSRs (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Document Period End Date | Sep. 30, 2015 | |||||
Servicing Asset at Fair Value, Amount | $ 1,262 | $ 1,262 | $ 1,206 | |||
Bank Servicing Fees | 40 | $ 44 | $ 113 | $ 143 | ||
Mortgage Servicing Rights, Fair Value [Member] | ||||||
Prepayment rate assumption (annual) | 11.00% | 11.00% | ||||
Decline in fair value from 10% adverse change | 51 | $ 51 | 46 | |||
Decline in fair value from 20% adverse change | 98 | $ 98 | 88 | |||
Discount rate (annual) | 8.00% | 10.00% | ||||
Decline in fair value from 10% adverse change | 55 | $ 55 | 55 | |||
Decline in fair value from 20% adverse change | 105 | $ 105 | 105 | |||
Weighted-average life (in years) | 6 years 5 months | 6 years 5 months | ||||
Weighted-average coupon | 4.10% | 4.20% | ||||
indirect auto loan servicing rights [Member] | ||||||
Servicing Asset at Fair Value, Amount | 11 | $ 11 | ||||
Bank Servicing Fees | 2 | 0 | 3 | $ 0 | ||
Servicing Asset at Fair Value, Amount | (11) | (11) | ||||
Mortgage Servicing Rights, Fair Value [Member] | ||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,305 | 1,262 | 1,305 | $ 1,206 | $ 1,300 |
Bank Servicing Fees | $ 89 | $ 81 | 254 | $ 241 | ||
Unpaid Principal Balance of Outstanding Underlying MSRs Transferred | $ 10,300 |
Certain Transfers of Financia78
Certain Transfers of Financial Assets and Variable Interest Entities - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 01, 2015 | Dec. 31, 2014 | ||
Cash Flows Between Transferor and Transferee, Receipts on Transferor's Interest in Transferred Financial Assets, Other | $ 6,000,000 | $ 2,000,000 | $ 14,000,000 | $ 14,000,000 | |||
Long-term Debt | [1] | 8,444,000,000 | 8,444,000,000 | $ 13,022,000,000 | |||
Total liabilities | 163,372,000,000 | 163,372,000,000 | 167,323,000,000 | ||||
Assets | 187,036,000,000 | 187,036,000,000 | 190,328,000,000 | ||||
LHFS excluded from managed loans disclosure | 2,000,000,000 | 2,000,000,000 | 3,200,000,000 | ||||
Trading assets | [2] | 6,537,000,000 | 6,537,000,000 | 6,202,000,000 | |||
Derivative Asset, Fair Value, Gross Asset | 5,258,000,000 | 5,258,000,000 | 5,839,000,000 | ||||
Derivative Liability, Fair Value, Gross Liability | 4,930,000,000 | 4,930,000,000 | 5,577,000,000 | ||||
Other Assets | 5,458,000,000 | 5,458,000,000 | 5,656,000,000 | ||||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | 18,000,000 | 15,000,000 | 46,000,000 | 45,000,000 | |||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 17,000,000 | 14,000,000 | 45,000,000 | (41,000,000) | |||
Amortization of Intangible Assets | [3] | 6,000,000 | 10,000,000 | ||||
Amortization | 9,000,000 | 7,000,000 | 22,000,000 | 14,000,000 | |||
Other Noninterest Expense | 95,000,000 | 83,000,000 | 286,000,000 | 333,000,000 | |||
Affordable Housing Investment [Member] | |||||||
Gains (Losses) on Sales of Investment Real Estate | 19,000,000 | ||||||
Properties sold, carrying value | 72,000,000 | ||||||
Variable Interest Entity, Not Primary Beneficiary [Member] | Community Development Investments [Member] | |||||||
Amortization of Intangible Assets | 8,000,000 | 4,000,000 | 18,000,000 | 9,000,000 | |||
Amortization | 4,000,000 | 4,000,000 | |||||
Variable Interest Entity, Primary Beneficiary [Member] | |||||||
Long-term Debt | 270,000,000 | 270,000,000 | 302,000,000 | ||||
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 48,000,000 | 50,000,000 | 171,000,000 | 155,000,000 | |||
Transferor's Interests in Transferred Financial Assets, Fair Value | 43,000,000 | 43,000,000 | 55,000,000 | ||||
Assets | 251,000,000 | 251,000,000 | 288,000,000 | ||||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||||
Total liabilities | 541,000,000 | 541,000,000 | 654,000,000 | ||||
Assets | 584,000,000 | 584,000,000 | 704,000,000 | ||||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Preference Shares [Member] | |||||||
Assets | 2,000,000 | 2,000,000 | 3,000,000 | ||||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Senior Subordinated Notes [Member] | |||||||
Assets | 11,000,000 | 11,000,000 | 18,000,000 | ||||
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||||||
Long-term Debt | 270,000,000 | 270,000,000 | 302,000,000 | ||||
Loans Receivable, Net | $ 273,000,000 | $ 273,000,000 | $ 306,000,000 | ||||
Student Loans [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member] | |||||||
Government Guarantee Percent | 100.00% | 100.00% | |||||
Total Return Swap | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||||
Trading assets | $ 2,400,000,000 | $ 2,400,000,000 | $ 2,300,000,000 | ||||
Derivative, Notional Amount | 2,400,000,000 | 2,400,000,000 | 2,300,000,000 | ||||
Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||||
Assets | 1,900,000,000 | 1,900,000,000 | 1,600,000,000 | ||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 255,000,000 | 255,000,000 | 236,000,000 | ||||
Real Estate Variable Interest Entity Borrowings | 130,000,000 | 130,000,000 | 113,000,000 | ||||
Limited Partner [Member] | Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||||||
Other Assets | 552,000,000 | 552,000,000 | 363,000,000 | ||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 1,079,000,000 | 1,079,000,000 | 910,000,000 | ||||
Loans issued by the Company to the limited partnerships | 396,000,000 | 396,000,000 | $ 412,000,000 | ||||
Affordable Housing [Member] | |||||||
Gains (Losses) on Sales of Investment Real Estate | $ 0 | (19,000,000) | |||||
Other Expense [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Community Development Investments [Member] | |||||||
Amortization | $ 0 | $ 5,000,000 | |||||
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | |||||||
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | $ 1,000,000,000 | ||||||
Proceeds from Securitizations of Consumer Loans | $ 1,000,000,000 | ||||||
[1] | Includes debt of consolidated VIEs of $270 million and $302 million at September 30, 2015 and December 31, 2014, respectively. | ||||||
[2] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | ||||||
[3] | Does not include amortization of tax credits for non-qualified community development investments. See Note 8, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information. |
Asset Transfers in Which the Co
Asset Transfers in Which the Company has Continuing Economic Involvement (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 2,091 | $ 2,091 | $ 2,579 | ||
Cash flows on interests held | (6) | $ (2) | (14) | $ (14) | ||
Other Noninterest Expense | 95 | 83 | 286 | 333 | ||
Amortization | 9 | 7 | 22 | 14 | ||
Community Development Investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Real Estate Variable Interest Entity Borrowings | 130 | 130 | 113 | |||
Residential Mortgage [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 48 | $ 50 | 171 | $ 155 | ||
Transferor's Interests in Transferred Financial Assets, Fair Value | 43 | 43 | 55 | |||
Affordable Housing [Member] | ||||||
Gains (Losses) on Sales of Investment Real Estate | 0 | (19) | ||||
Affordable Housing Investment [Member] | ||||||
Properties sold, carrying value | 72 | |||||
Gains (Losses) on Sales of Investment Real Estate | 19 | |||||
Residential Portfolio Segment [Member] | ||||||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 703 | $ 703 | $ 891 | ||
[1] | Excludes $1 million and $39 million of past due LHFS at September 30, 2015 and December 31, 2014, respectively. |
Portfolio Balances and Delinque
Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | $ 256,461 | $ 256,461 | $ 248,646 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 2,091 | 2,091 | 2,579 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 76 | $ 134 | 269 | $ 364 | ||
Commercial Portfolio Segment [Member] | ||||||
Principal Balance | [1] | 73,302 | 73,302 | 73,392 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 151 | 151 | 181 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 13 | 12 | 47 | 57 | ||
Residential Portfolio Segment [Member] | ||||||
Principal Balance | [1] | 38,788 | 38,788 | 38,775 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 703 | 703 | 891 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 36 | 92 | 146 | 227 | ||
Consumer Portfolio Segment [Member] | ||||||
Principal Balance | [1] | 21,470 | 21,470 | 20,945 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 514 | 514 | 619 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 22 | 24 | 65 | 67 | ||
Loans and Finance Receivables [Member] | ||||||
Principal Balance | [1] | 133,560 | 133,560 | 133,112 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 1,368 | 1,368 | 1,691 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 71 | 128 | 258 | 351 | ||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 118,663 | 118,663 | 110,591 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2],[3] | 136 | 136 | 183 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 5 | 6 | 11 | 13 | ||
Loans [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 4,238 | 4,238 | 4,943 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 587 | 587 | 705 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 0 | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 889 | 889 | 0 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2] | 1 | 1 | 0 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | 1 | 0 | 1 | 0 | ||
Residential Portfolio Segment [Member] | Asset-backed Securities, Securitized Loans and Receivables [Member] | ||||||
Principal Amount Outstanding on Loans Managed and Securitized or Asset-backed Financing Arrangement | [1] | 117,774 | 117,774 | 110,591 | ||
Delinquent Amount at End of Period on Loans Managed and Securitized or Asset-backed Financing Arrangement | [2],[3] | 135 | 135 | $ 183 | ||
Net Credit Losses During Period on Loans Managed or Securitized or Asset-backed Financing Arrangement | $ 4 | $ 6 | $ 10 | $ 13 | ||
[1] | Excludes $2.0 billion and $3.2 billion of LHFS at September 30, 2015 and December 31, 2014, respectively. | |||||
[2] | Excludes $1 million and $39 million of past due LHFS at September 30, 2015 and December 31, 2014, respectively. | |||||
[3] | Excludes loans that have completed the foreclosure or short sale process (i.e., involuntary prepayments) |
Certain Transfers of Financia81
Certain Transfers of Financial Assets and Variable Interest Entities Portfolio Balances and Delinquency Balances Based on 90 days or more Past Due and Net Charge-Offs Related to Managed Portfolio Loans (Additional Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Servicing Assets at Fair Value [Line Items] | |||||
Cash Flows Between Transferor and Transferee, Receipts on Transferor's Interest in Transferred Financial Assets, Other | $ 6 | $ 2 | $ 14 | $ 14 | |
LHFS excluded from managed loans disclosure | 2,000 | 2,000 | $ 3,200 | ||
Loans Held For Sale [Member] | |||||
Servicing Assets at Fair Value [Line Items] | |||||
LHFS Accruing90OrMoreDaysPastDueAndNonaccruingExcludedFromManagedLoanDisclosure | $ 1 | $ 1 | $ 39 |
Net Income(loss) per common sha
Net Income(loss) per common share - Additonal Information (Details) - shares shares in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 14 | 15 |
Reconciliation of Net Income_(L
Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Income (Loss) Attributable to Parent | $ 537 | $ 576 | $ 1,449 | $ 1,380 |
Dividends, Preferred Stock, Cash | (16) | (9) | (48) | (28) |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | (2) | (4) | (5) | (9) |
Net Income (Loss) Available to Common Stockholders, Basic | $ 519 | $ 563 | $ 1,396 | $ 1,343 |
Average basic common shares | 513,010 | 527,402 | 516,970 | 529,429 |
Stock options | 2,000 | 2,000 | 2,000 | 2,000 |
Restricted stock | 4,000 | 4,000 | 4,000 | 4,000 |
Weighted Average Number of Shares Outstanding, Diluted | 518,677 | 533,230 | 522,634 | 535,222 |
Net income/(loss) per average common share - diluted | $ 1 | $ 1.06 | $ 2.67 | $ 2.51 |
Earnings Per Share, Basic | $ 1.01 | $ 1.07 | $ 2.70 | $ 2.54 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Income Taxes Other Information [Line Items] | |||||
Income Tax Expense (Benefit) | $ 187 | $ 67 | $ 579 | $ 364 | |
Effective Income Tax Rate Reconciliation, Percent | 26.00% | 10.00% | 29.00% | 21.00% | |
discrete income tax benefit | $ (35) | $ (130) | |||
Unrecognized Tax Benefits | 152 | $ 152 | $ 210 | ||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 65 | $ 65 |
Stock-Based Compensation Expens
Stock-Based Compensation Expense Recognized in Noninterest Expense (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Stock-based compensation expense: | ||||
Stock options | $ 0 | $ 0 | $ 1 | $ 1 |
Restricted Stock Expense | 4 | 7 | 13 | 21 |
Phantom stock expense | 5 | 4 | 21 | 9 |
Restricted stock units | 7 | 5 | 35 | 27 |
Total stock-based compensation expense | 16 | 16 | 70 | 58 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 6 | $ 6 | $ 27 | $ 22 |
Defined Benefit Plan, Net Perio
Defined Benefit Plan, Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |||||
Pension Plans, Defined Benefit | ||||||||
Defined Benefit Plan, Service Cost | [1] | $ 2 | $ 2 | $ 4 | $ 4 | |||
Defined Benefit Plan, Interest Cost | 29 | 31 | [1] | 87 | [1] | 93 | [1] | |
Defined Benefit Plan, Expected Return on Plan Assets | [1] | (52) | (50) | (155) | (150) | |||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | ||||
Defined Benefit Plan, Amortization of Gains (Losses) | [1] | 5 | 4 | 16 | 12 | |||
Defined Benefit Plan, Net Periodic Benefit Cost | (16) | (13) | (48) | (41) | ||||
Other Postretirement Benefit Plans, Defined Benefit | ||||||||
Defined Benefit Plan, Service Cost | 0 | 0 | 0 | 0 | ||||
Defined Benefit Plan, Interest Cost | 1 | 1 | 2 | 2 | ||||
Defined Benefit Plan, Expected Return on Plan Assets | (2) | (1) | (4) | (4) | ||||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | (1) | (2) | (4) | (4) | ||||
Defined Benefit Plan, Amortization of Gains (Losses) | 0 | 0 | 0 | 0 | ||||
Other Postretirement Benefit Expense | $ (2) | $ (2) | $ (6) | $ (6) | ||||
[1] | Administrative fees are recognized in service cost for each of the periods presented. |
Guarantees - Additional Informa
Guarantees - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | 9 Months Ended | |||||
May. 31, 2009 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |||
Document Period End Date | Sep. 30, 2015 | ||||||
Guarantee, Expiry Range of Tax Credits Sold, Minimum | 3 years | ||||||
Guarantee Period of Tax Credits Sold, Maximum | 15 years | ||||||
Business Combination, Contingent Consideration, Liability | $ 23 | $ 27 | |||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | $ 16 | [1] | 47 | $ 45 | [1] | $ 126 | |
Guarantee, Expiry Range of Tax Credits Sold, Maximum | 7 years | ||||||
Standby Letters of Credit | |||||||
Maximum potential amount obligation | $ 2,900 | 3,000 | |||||
Mortgage Servicing Rights [Member] | |||||||
Loss Contingency Accrual, at Carrying Value | 18 | 25 | |||||
Visa Interest [Member] | |||||||
Derivative Liability, Current | 6 | $ 5 | |||||
Tax Credit Sales [Member] | |||||||
Maximum potential amount obligation | 19 | ||||||
Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member] | |||||||
Number Of Shares Sold To Selected Financial Institutions | 3 | ||||||
Not Designated as Hedging Instrument [Member] | Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member] | |||||||
Number Of Shares Sold To Selected Financial Institutions | 3.2 | ||||||
Non-Government Sponsored Agency [Member] | |||||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | $ 1 | $ 3 | |||||
[1] | 1 Comprised of $15 million and $42 million from the GSEs, and $1 million and $3 million from non-agency investors at September 30, 2015 and 2014, respectively. |
Guarantees Repurchase Requests
Guarantees Repurchase Requests (Details) - USD ($) $ in Millions | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Gurantees [Abstract] | ||||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | $ 16 | [1] | $ 45 | [1] | $ 47 | $ 126 |
Unpaid Principal Balance of Repurchase Requests Received | 58 | 139 | ||||
Unpaid Principal Balance of Repurchase Requests Resolved by Repurchase | 17 | 22 | ||||
Unpaid Principal Balance of Repurchase Requests Resolved by Settlement | 72 | 198 | ||||
Unpaid Principal Balance of Repurchase Request Loans Resolved | $ 89 | $ 220 | ||||
[1] | 1 Comprised of $15 million and $42 million from the GSEs, and $1 million and $3 million from non-agency investors at September 30, 2015 and 2014, respectively. |
Guarantees Repurchase Request89
Guarantees Repurchase Requests (Additional Information) (Details) - USD ($) $ in Millions | 9 Months Ended | |||||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Unpaid Principal Balance of Repurchase Requests Resolved by Repurchase | $ 17 | $ 22 | ||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | 16 | [1] | 45 | [1] | $ 47 | $ 126 |
Unpaid Principal Balance of Repurchase Requests Received | 58 | 139 | ||||
Unpaid Principal Balance of Repurchase Requests Resolved by Settlement | 72 | 198 | ||||
Unpaid Principal Balance of Repurchase Request Loans Resolved | $ 89 | $ 220 | ||||
Pending Repurchase Requests from Non-Agency Investors | 6.00% | 7.00% | ||||
Repurchase Requests Received from Non-Agency Investors | 0.60% | 0.80% | ||||
US Government Sponsored Agency [Member] | ||||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | $ 15 | $ 42 | ||||
Non-Government Sponsored Agency [Member] | ||||||
Unpaid Principal Balance Of Unresolved Repurchase Requests | $ 1 | $ 3 | ||||
[1] | 1 Comprised of $15 million and $42 million from the GSEs, and $1 million and $3 million from non-agency investors at September 30, 2015 and 2014, respectively. |
Guarantees Mortgage Loans Repur
Guarantees Mortgage Loans Repurchase Reserve Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Guarantees [Abstract] | ||||||||
Reserve For Mortgage Loan Repurchase Losses | $ 59 | $ 77 | $ 59 | $ 77 | $ 60 | $ 85 | $ 77 | $ 78 |
Mortgage Repurchase Reserve, Provision for Mortgage Loan Repurchase Losses | (1) | (2) | (9) | (12) | ||||
Charge Offs For Mortgage Loan Repurchase Losses | $ 0 | $ 2 | $ 17 | $ 13 |
Guarantees Repurchased Mortgage
Guarantees Repurchased Mortgage Loan (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Document Period End Date | Sep. 30, 2015 | |
Repurchased mortgage loans, carrying value | $ 277 | $ 312 |
Performing Financial Instruments [Member] | Loans Held For Investment [Member] | ||
Repurchased mortgage loans, carrying value | 262 | 271 |
Nonperforming Financing Receivable [Member] | Loans Held For Investment [Member] | ||
Repurchased mortgage loans, carrying value | 15 | 29 |
Nonperforming Financing Receivable [Member] | Residential Mortgage, Loans Held For Sale [Member] | ||
Repurchased mortgage loans, carrying value | $ 0 | $ 12 |
Derivative Financial Instrume92
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative Liability, Fair Value, Gross Liability | $ 4,930 | $ 5,577 |
Derivative Asset, Fair Value, Gross Asset | 5,258 | 5,839 |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 211 | |
Derivative Asset, Notional Amount | 140,073 | 118,139 |
Derivative Liability, Notional Amount | 109,543 | 114,144 |
Netted counterparty balance [Member] | ||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 1,100 | 1,100 |
Derivative Asset, Fair Value of Collateral | (592) | 386 |
Derivative Credit Risk Valuation Adjustment, Derivative Assets | 5 | 7 |
Derivative liability positions containing provisions conditioned on downgrades [Member] | ||
Derivative Liability, Fair Value, Gross Liability | 1,100 | 1,092 |
Netted counterparty balance gains [Member] | ||
Fair Value, Concentration of Risk, Derivative Instruments, Assets | 1,700 | $ 1,500 |
Additional Termination Event [Member] | ||
Derivative Liability, Fair Value, Gross Liability | 1 | |
Credit Support Annex | ||
Derivative Liability, Fair Value, Gross Liability | 1,100 | |
Collateral Already Posted, Aggregate Fair Value | 1,100 | |
Additional Collateral, Aggregate Fair Value | $ 7 | |
Credit Default Swap, Selling Protection [Member] | ||
Maximum Term of Credit Risk Derivatives | 5 years | 4 years |
Credit Derivative, Maximum Exposure, Undiscounted | $ 150 | $ 20 |
Credit Risk Derivatives, at Fair Value, Net | 1 | 1 |
Credit Default Swap, Buying Protection [Member] | ||
Derivative, Notional Amount | 315 | 190 |
Credit Risk Derivatives, at Fair Value, Net | 2 | 5 |
Total Return Swap | ||
Derivative Liability, Fair Value, Gross Liability | 11 | 14 |
Collateral Already Posted, Aggregate Fair Value | 462 | 373 |
Derivative, Notional Amount | 2,400 | 2,300 |
Derivative Asset, Fair Value, Gross Asset | 16 | 19 |
Financial Guarantee [Member] | ||
Credit Derivative, Maximum Exposure, Undiscounted | $ 73 | $ 31 |
Derivative, Lower Remaining Maturity Range | 0 years | |
Derivative, Higher Remaining Maturity Range | 8 years | |
Weighted Average of Maturities of Cash Flow Hedges | 4 years | |
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | ||
Derivative, Lower Remaining Maturity Range | 1 year | |
Derivative, Higher Remaining Maturity Range | 7 years | |
Weighted Average of Maturities of Cash Flow Hedges | 3 years 2 months | |
Maximum [Member] | Additional Termination Event [Member] | ||
Derivative Liability, Fair Value, Gross Liability | $ 15 |
Derivative Positions (Detail)
Derivative Positions (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |||
Derivative Asset, Notional Amount | $ 140,073 | $ 118,139 | |||
Derivative Asset, Fair Value, Gross Asset | 5,258 | 5,839 | |||
Derivative Liability, Notional Amount | 109,543 | 114,144 | |||
Derivative Liability, Fair Value, Gross Liability | 4,930 | 5,577 | |||
Derivative, Fair Value, Amount Offset Against Collateral, Net | (3,268) | (4,083) | |||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (541) | (449) | |||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | (1,097) | (1,032) | |||
Derivative Assets | [1] | (1,449) | (1,307) | ||
Derivative Liabilities | [2] | 565 | 462 | ||
Other Trading [Member] | |||||
Derivative Assets | (1,449) | (1,307) | |||
Derivative Liabilities | 565 | 462 | |||
Credit Risk Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 6 | 4 | |||
Derivative Liability, Notional Amount | 9 | [3],[4] | 4 | ||
Not Designated as Hedging Instrument [Member] | |||||
Derivative Asset, Notional Amount | 122,843 | [5] | 97,259 | ||
Derivative Asset, Fair Value, Gross Asset | 4,969 | [5] | 5,601 | ||
Derivative Liability, Notional Amount | 108,943 | [5] | 108,694 | ||
Derivative Liability, Fair Value, Gross Liability | 4,930 | [5] | 5,568 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Mortgage Servicing Rights [Member] | |||||
Derivative Asset, Notional Amount | 18,209 | [5] | 5,172 | [4] | |
Derivative Asset, Fair Value, Gross Asset | 285 | [5] | 163 | [4] | |
Derivative Liability, Notional Amount | 6,009 | [5] | 8,807 | [4] | |
Derivative Liability, Fair Value, Gross Liability | 159 | [5] | 30 | [4] | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Loans [Member] | |||||
Derivative Asset, Notional Amount | 2,638 | [5],[6] | 1,840 | [3],[4] | |
Derivative Asset, Fair Value, Gross Asset | 13 | [5],[6] | 4 | [3],[4] | |
Derivative Liability, Notional Amount | 4,478 | [5],[6] | 4,923 | [3],[4] | |
Derivative Liability, Fair Value, Gross Liability | 40 | [5],[6] | 23 | [3],[4] | |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 69,745 | [5],[7] | 61,049 | [4],[8] | |
Derivative Asset, Fair Value, Gross Asset | 2,449 | [5],[7] | 2,405 | [4],[8] | |
Derivative Liability, Notional Amount | 63,113 | [5],[7] | 61,065 | [4],[8] | |
Derivative Liability, Fair Value, Gross Liability | 2,237 | [5],[7] | 2,225 | [4],[8] | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 3,634 | [5] | 2,429 | [4] | |
Derivative Asset, Fair Value, Gross Asset | 127 | [5] | 104 | [4] | |
Derivative Liability, Notional Amount | 3,303 | [5] | 2,414 | [4] | |
Derivative Liability, Fair Value, Gross Liability | 123 | [5] | 100 | [4] | |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Loans [Member] | |||||
Derivative Asset, Notional Amount | 0 | 0 | |||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | |||
Derivative Liability, Notional Amount | 215 | [5] | 392 | [4] | |
Derivative Liability, Fair Value, Gross Liability | 3 | [5] | 5 | [4] | |
Not Designated as Hedging Instrument [Member] | Credit Risk Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 2,568 | [5],[9] | 2,282 | [4],[10] | |
Derivative Asset, Fair Value, Gross Asset | 16 | [5],[9] | 20 | [4],[10] | |
Derivative Liability, Notional Amount | 2,735 | [5],[9] | 2,452 | [4],[10] | |
Derivative Liability, Fair Value, Gross Liability | 13 | [5],[9] | 20 | [4],[10] | |
Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 22,911 | [5],[7] | 21,875 | [4],[8] | |
Derivative Asset, Fair Value, Gross Asset | 1,944 | [5],[7] | 2,809 | [4],[8] | |
Derivative Liability, Notional Amount | 28,546 | [5],[7] | 28,128 | [4],[8] | |
Derivative Liability, Fair Value, Gross Liability | 2,253 | [5],[7] | 3,090 | [4],[8] | |
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | Loans [Member] | |||||
Derivative Asset, Notional Amount | 2,672 | [5],[11] | 2,231 | [4],[12] | |
Derivative Asset, Fair Value, Gross Asset | 38 | [5],[11] | 25 | [4],[12] | |
Derivative Liability, Notional Amount | 81 | [5],[11] | 139 | [4],[12] | |
Derivative Liability, Fair Value, Gross Liability | 6 | [5],[11] | 5 | [4],[12] | |
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | 466 | [5] | 381 | [4] | |
Derivative Asset, Fair Value, Gross Asset | 97 | [5] | 71 | [4] | |
Derivative Liability, Notional Amount | 463 | [5] | 374 | [4] | |
Derivative Liability, Fair Value, Gross Liability | 96 | [5] | 70 | [4] | |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Adjustable Rate Loans [Member] | |||||
Derivative Asset, Notional Amount | 15,500 | [13] | 18,150 | [14] | |
Derivative Asset, Fair Value, Gross Asset | 262 | [13] | 208 | [14] | |
Derivative Liability, Notional Amount | 0 | 2,850 | [14] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 8 | [14] | ||
Fair Value Hedging | Interest Rate Contract [Member] | |||||
Derivative Asset, Notional Amount | 1,730 | [15] | 2,730 | [16] | |
Derivative Asset, Fair Value, Gross Asset | 27 | [15] | 30 | [16] | |
Derivative Liability, Notional Amount | 600 | [15] | 2,600 | [16] | |
Derivative Liability, Fair Value, Gross Liability | 0 | 1 | [16] | ||
Fair Value Hedging | Interest Rate Contract [Member] | Fixed Income Interest Rate [Member] | |||||
Derivative Asset, Notional Amount | 1,700 | [15] | 2,700 | [16] | |
Derivative Asset, Fair Value, Gross Asset | 27 | [15] | 30 | [16] | |
Derivative Liability, Notional Amount | 600 | [15] | 2,600 | [16] | |
Derivative Liability, Fair Value, Gross Liability | 0 | 1 | [16] | ||
Fair Value Hedging | Interest Rate Contract [Member] | Brokered Deposits [Member] | |||||
Derivative Asset, Notional Amount | 30 | [15] | 30 | [16] | |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | |||
Derivative Liability, Notional Amount | 0 | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | |||
Interest rate futures [Member] | Interest Rate Contract [Member] | Loans [Member] | |||||
Derivative Asset, Notional Amount | [3],[4] | 848 | |||
Derivative Liability, Notional Amount | [3],[4] | 791 | |||
Interest rate futures [Member] | Interest Rate Contract [Member] | Other Trading [Member] | |||||
Derivative Asset, Notional Amount | $ 12,700 | $ 10,300 | |||
[1] | At September 30, 2015, $1.4 billion, net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||||
[2] | At September 30, 2015, $565 million, net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. | ||||
[3] | Amount includes $791 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. | ||||
[4] | See “Economic Hedging and Trading Activities” in this Note for further discussion. | ||||
[5] | See “Economic Hedging and Trading Activities” in this Note for further discussion. | ||||
[6] | Amount includes $848 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. | ||||
[7] | Amounts include $12.7 billion and $536 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. | ||||
[8] | Amounts include $10.3 billion and $563 million of notional amounts related to interest rate futures and equity futures, respectively. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. Amounts also include notional amounts related to interest rate swaps hedging fixed rate debt. | ||||
[9] | Asset and liability amounts include $6 million and $9 million of notional amounts from purchased and written credit risk participation agreements, respectively, whose notional is calculated as the notional of the derivative participated adjusted by the relevant RWA conversion factor. | ||||
[10] | Asset and liability amounts both include $4 million of notional amounts from purchased and written interest rate swap risk participation agreements, respectively, whose notional is calculated as the notional of the interest rate swap participated adjusted by the relevant RWA conversion factor. | ||||
[11] | Includes $49 million notional amount that is based on the number of Visa Class B shares, 3.2 million, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12, “Guarantees” for additional information. | ||||
[12] | Includes $49 million notional amount that is based on the number of Visa Class B shares, 3.2 million, the conversion ratio from Class B shares to Class A shares, and the Class A share price at the derivative inception date of May 28, 2009. This derivative was established upon the sale of Class B shares in the second quarter of 2009. See Note 12, “Guarantees” for additional information. | ||||
[13] | See “Cash Flow Hedges” in this Note for further discussion. | ||||
[14] | See “Cash Flow Hedges” in this Note for further discussion. | ||||
[15] | See “Fair Value Hedges” in this Note for further discussion. | ||||
[16] | See “Fair Value Hedges” in this Note for further discussion. |
Derivative Positions (Additiona
Derivative Positions (Additional Information) (Detail) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | ||||
May. 31, 2009 | Sep. 30, 2015 | Dec. 31, 2014 | |||
Derivative Asset, Notional Amount | $ 140,073 | $ 118,139 | |||
Derivative Liability, Notional Amount | 109,543 | 114,144 | |||
Other Trading [Member] | Credit Risk Contract [Member] | |||||
Derivative Asset, Notional Amount | 6 | 4 | |||
Derivative Liability, Notional Amount | 9 | [1],[2] | 4 | ||
Derivative Financial Instruments, Liabilities [Member] | Visa Interest [Member] | |||||
Number Of Shares Sold To Selected Financial Institutions | 3 | ||||
Visa Interest [Member] | Loans [Member] | Other Contract [Member] | |||||
Derivative Liability, Notional Amount | 49 | [1],[2] | 49 | ||
Interest rate futures [Member] | Loans [Member] | Interest Rate Contract [Member] | |||||
Derivative Asset, Notional Amount | [1],[2] | 848 | |||
Derivative Liability, Notional Amount | [1],[2] | 791 | |||
Interest rate futures [Member] | Other Trading [Member] | Interest Rate Contract [Member] | |||||
Derivative Asset, Notional Amount | 12,700 | 10,300 | |||
Equity futures [Member] | Other Trading [Member] | Equity Contract [Member] | |||||
Derivative Asset, Notional Amount | $ 536 | $ 563 | |||
[1] | Amount includes $791 million of notional amounts related to interest rate futures. These futures contracts settle in cash daily, one day in arrears. The derivative asset or liability associated with the one day lag is included in the fair value column of this table. | ||||
[2] | See “Economic Hedging and Trading Activities” in this Note for further discussion. |
Impacts of Derivative Financial
Impacts of Derivative Financial Instruments on the Consolidated Statements of Income/(Loss) and the Consolidated Statements of Shareholders' Equity (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 318 | $ 132 | $ 438 | $ 330 | ||||
Interest Income [Member] | ||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 23 | 61 | ||||||
Other Trading [Member] | Other Trading [Member] | ||||||||
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | 5 | 9 | 46 | 34 | ||||
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | 21 | 44 | 57 | 43 | ||||
Other Trading [Member] | Credit Risk Contract [Member] | Other Trading [Member] | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 6 | 4 | 19 | 13 | ||||
Other Trading [Member] | Equity Contract [Member] | Other Trading [Member] | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 1 | 3 | 4 | ||||
Other Trading [Member] | Other Contract [Member] | Other Trading [Member] | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | 2 | ||||||
Mortgage Servicing Income [Member] | Mortgage Servicing Rights [Member] | ||||||||
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | 298 | 17 | 223 | 138 | ||||
Mortgage Production Income [Member] | Loans [Member] | ||||||||
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | (69) | 4 | (60) | (92) | ||||
Mortgage Production Income [Member] | Other Contract [Member] | Loans [Member] | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 58 | 52 | 151 | 190 | ||||
Other Income [Member] | Loans [Member] | ||||||||
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | (2) | (2) | ||||||
Other Income [Member] | Credit Risk Contract [Member] | Loans [Member] | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 1 | (1) | 0 | ||||
Cash Flow Hedging [Member] | Interest Income [Member] | Interest Rate Contract [Member] | Adjustable Rate Loans [Member] | ||||||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 204 | [1] | (31) | [2] | 338 | 36 | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 47 | [1] | 76 | [2] | 126 | [1] | 225 | [2] |
Fair Value Hedging | Other Trading [Member] | Interest Rate Contract [Member] | Fixed Income Interest Rate [Member] | ||||||||
Derivative, Gain (Loss) on Derivative, Net | 0 | [3] | (7) | [4] | 7 | [3] | 10 | [4] |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | (1) | [3] | 7 | [4] | (8) | [3] | (9) | [4] |
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ (1) | [3] | $ 0 | $ (1) | $ 1 | [4] | ||
[1] | During the three and nine months ended September 30, 2015, the Company also reclassified $23 million and $61 million, respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. | |||||||
[2] | During the three and nine months ended September 30, 2014, the Company also reclassified $23 million and $77 million, respectively, of pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that have been terminated or de-designated and are reclassified into earnings consistent with the pattern of net cash flows expected to be recognized. | |||||||
[3] | Amounts are recognized in trading income in the Consolidated Statements of Income. | |||||||
[4] | Amounts are recognized in trading income in the Consolidated Statements of Income. |
Impacts of Derivative Financi96
Impacts of Derivative Financial Instruments on the Consolidated Statements of Income/(Loss) and the Consolidated Statements of Shareholders' Equity (Additional Information) (Detail) - Interest Income [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 23 | $ 61 | ||
Terminated or dedesignated hedges [Member] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 23 | $ 77 |
Derivative Financial Instrume97
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | $ 5,258 | $ 5,839 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 3,809 | 4,532 | |
Derivative Assets | [1] | 1,449 | 1,307 |
Collateral Held by The Company Against Derivative Asset Positions | 51 | 63 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1,398 | 1,244 | |
Derivative Liability, Fair Value, Gross Liability | 4,930 | 5,577 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 4,365 | 5,115 | |
Derivative Liabilities | [2] | 565 | 462 |
Derivative, Collateral, Right to Reclaim Securities | 20 | 12 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 545 | 450 | |
Derivatives Subject to Master Netting Arrangement or Similar Arrangement [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 4,748 | 5,127 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 3,455 | 4,095 | |
Derivative Assets | 1,293 | 1,032 | |
Collateral Held by The Company Against Derivative Asset Positions | 51 | 63 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1,242 | 969 | |
Derivative Liability, Fair Value, Gross Liability | 4,488 | 5,001 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 4,011 | 4,678 | |
Derivative Liabilities | 477 | 323 | |
Derivative, Collateral, Right to Reclaim Securities | 20 | 12 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 457 | 311 | |
Derivatives Not Subject to Master Netting Arrangement or Similar Arrangement [Member] [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 38 | 25 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | 0 | |
Derivative Assets | 38 | 25 | |
Collateral Held by The Company Against Derivative Asset Positions | 0 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 38 | 25 | |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 88 | 133 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 0 | 0 | |
Derivative Liabilities | 88 | 133 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 88 | 133 | |
Exchange Traded [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | 472 | 687 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 354 | 437 | |
Derivative Assets | 118 | 250 | |
Collateral Held by The Company Against Derivative Asset Positions | 0 | 0 | |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 118 | 250 | |
Derivative Liability, Fair Value, Gross Liability | 354 | 443 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 354 | 437 | |
Derivative Liabilities | 0 | 6 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | $ 0 | $ 6 | |
[1] | At September 30, 2015, $1.4 billion, net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2015, $565 million, net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Derivative Financial Instrume98
Derivative Financial Instruments Netting of Financial Instruments - Derivatives (Additional Information) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative Assets | [1] | $ 1,449 | $ 1,307 |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 541 | 449 | |
Derivative Liabilities | [2] | 565 | 462 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 1,097 | 1,032 | |
Trading Securities [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 1,449 | 1,307 | |
Trading Liabilities [Member] | |||
Derivative [Line Items] | |||
Derivative Liabilities | $ 565 | $ 462 | |
[1] | At September 30, 2015, $1.4 billion, net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | ||
[2] | At September 30, 2015, $565 million, net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Assets and Liabilities Measured
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | [1] | $ 6,537 | $ 6,537 | $ 6,202 | ||||||
Derivative Assets | [2] | 1,449 | 1,449 | 1,307 | ||||||
Available-for-sale Securities | [3] | 27,270 | 27,270 | 26,770 | ||||||
Loans Held-for-sale, Fair Value Disclosure | 1,883 | 1,883 | 1,892 | |||||||
Loans Receivable, Fair Value Disclosure | 262 | 262 | 272 | |||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,262 | 1,206 | |||||||
Trading Liabilities, Fair Value Disclosure | 1,330 | 1,330 | 1,227 | |||||||
Derivative Liabilities | [4] | 565 | 565 | 462 | ||||||
Long-term Debt, Fair Value | 986 | 986 | 1,283 | |||||||
Other Liabilities, Fair Value Disclosure | 23 | [5] | 23 | [5] | 27 | [6] | ||||
Netting [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | (3,809) | [7] | (3,809) | [7] | (4,532) | [8] | ||||
Trading Liabilities, Fair Value Disclosure | (4,365) | [7] | (4,365) | [7] | (5,115) | [8] | ||||
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 27,270 | 27,270 | 26,770 | |||||||
Loans Receivable, Fair Value Disclosure | 262 | 262 | 272 | |||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,262 | 1,206 | |||||||
Long-term Debt, Fair Value | 986 | 986 | 1,283 | |||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 982 | 982 | 1,000 | |||||||
Available-for-sale Securities | 3,176 | 3,176 | 2,059 | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Servicing Asset at Fair Value, Amount | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 939 | 939 | 929 | |||||||
Long-term Debt, Fair Value | 0 | 0 | 0 | |||||||
Other Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 9,326 | 9,326 | 9,709 | |||||||
Available-for-sale Securities | 23,527 | 23,527 | 23,765 | |||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Servicing Asset at Fair Value, Amount | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 4,750 | 4,750 | 5,408 | |||||||
Long-term Debt, Fair Value | 986 | 986 | 1,283 | |||||||
Other Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 38 | 38 | 25 | |||||||
Available-for-sale Securities | 567 | 567 | 946 | |||||||
Loans Receivable, Fair Value Disclosure | 262 | 262 | 272 | |||||||
Servicing Asset at Fair Value, Amount | 1,262 | 1,262 | 1,206 | |||||||
Trading Liabilities, Fair Value Disclosure | 6 | 6 | 5 | |||||||
Long-term Debt, Fair Value | 0 | 0 | 0 | |||||||
Other Liabilities, Fair Value Disclosure | 23 | [5] | 23 | [5] | 27 | [6] | ||||
Other Liabilities [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Transfers to other balance sheet line items | 0 | $ 0 | 0 | $ (3) | ||||||
Collateralized Loan Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 2 | 2 | 3 | |||||||
Collateralized Loan Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Collateralized Loan Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 2 | 2 | 3 | |||||||
Collateralized Loan Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Investment in Federal Home Loan Bank Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Investments, Fair Value Disclosure | 32 | 32 | 376 | |||||||
Interest Rate Lock Commitments [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 41 | $ 64 | 138 | 181 | ||||||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 2,739 | 2,739 | 2,610 | |||||||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 2,739 | 2,739 | 2,610 | |||||||
Trading Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 65 | 65 | 45 | |||||||
Available-for-sale Securities | 551 | [9] | 551 | [9] | 923 | [10] | ||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 65 | 65 | 45 | |||||||
Available-for-sale Securities | 111 | [9] | 111 | [9] | 138 | [10] | ||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 440 | [9] | 440 | [9] | 785 | [10] | ||||
Derivative Financial Instruments, Assets | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 474 | 474 | 688 | |||||||
Derivative Financial Instruments, Assets | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 4,746 | 4,746 | 5,126 | |||||||
Derivative Financial Instruments, Assets | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 38 | 38 | 25 | |||||||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 312 | 312 | 327 | |||||||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 312 | 312 | 327 | |||||||
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 390 | 390 | 509 | |||||||
Available-for-sale Securities | 38 | 38 | 41 | |||||||
Trading Liabilities, Fair Value Disclosure | 177 | 177 | 279 | |||||||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 390 | 390 | 509 | |||||||
Available-for-sale Securities | 33 | 33 | 36 | |||||||
Trading Liabilities, Fair Value Disclosure | 177 | 177 | 279 | |||||||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 5 | 5 | 5 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 15 | 15 | 21 | |||||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 15 | 15 | 21 | |||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 102 | 102 | 123 | |||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Available-for-sale Securities | 102 | 102 | 123 | |||||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 565 | 565 | 545 | |||||||
Available-for-sale Securities | 22,905 | 22,905 | 23,048 | |||||||
Trading Liabilities, Fair Value Disclosure | 4 | 4 | 1 | |||||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 565 | 565 | 545 | |||||||
Available-for-sale Securities | 22,905 | 22,905 | 23,048 | |||||||
Trading Liabilities, Fair Value Disclosure | 4 | 4 | 1 | |||||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 40 | 40 | 42 | |||||||
Available-for-sale Securities | 174 | 174 | 209 | |||||||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 40 | 40 | 42 | |||||||
Available-for-sale Securities | 169 | 169 | 197 | |||||||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 5 | 5 | 12 | |||||||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 532 | 532 | 547 | |||||||
Available-for-sale Securities | 420 | 420 | 484 | |||||||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 532 | 532 | 547 | |||||||
Available-for-sale Securities | 420 | 420 | 484 | |||||||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 443 | 443 | 267 | |||||||
Available-for-sale Securities | 3,065 | 3,065 | 1,921 | |||||||
Trading Liabilities, Fair Value Disclosure | 584 | 584 | 485 | |||||||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 443 | 443 | 267 | |||||||
Available-for-sale Securities | 3,065 | 3,065 | 1,921 | |||||||
Trading Liabilities, Fair Value Disclosure | 584 | 584 | 485 | |||||||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 0 | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading Liabilities, Fair Value Disclosure | 355 | 355 | 444 | |||||||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading Liabilities, Fair Value Disclosure | 4,569 | 4,569 | 5,128 | |||||||
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading Liabilities, Fair Value Disclosure | 6 | 6 | 5 | |||||||
Federal Reserve Bank Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Investments, Fair Value Disclosure | 402 | 402 | 402 | |||||||
Equity Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Investments, Fair Value Disclosure | 111 | 111 | 138 | |||||||
Residential Mortgage, Loans Held For Sale [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Loans Held-for-sale, Fair Value Disclosure | 1,883 | 1,883 | 1,892 | |||||||
Residential Mortgage, Loans Held For Sale [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Residential Mortgage, Loans Held For Sale [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Loans Held-for-sale, Fair Value Disclosure | 1,881 | 1,881 | 1,891 | |||||||
Residential Mortgage, Loans Held For Sale [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Loans Held-for-sale, Fair Value Disclosure | 2 | 2 | 1 | |||||||
Trading Account Assets [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | |||||||||
Transfers to other balance sheet line items | $ (185) | |||||||||
Estimate of Fair Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 4,916 | 4,916 | 8,229 | |||||||
Trading assets | 6,537 | 6,537 | 6,202 | |||||||
Available-for-sale Securities | 27,270 | 27,270 | 26,770 | |||||||
Loans Held-for-sale, Fair Value Disclosure | 2,034 | 2,034 | 3,240 | |||||||
Trading Liabilities, Fair Value Disclosure | 1,330 | 1,330 | 1,227 | |||||||
Long-term Debt, Fair Value | 8,403 | 8,403 | 13,056 | |||||||
Loans Net Fair Value Disclosure | 129,046 | 129,046 | 126,855 | |||||||
Consumer And Commercial Deposits, Fair Value Disclosure | 146,407 | 146,407 | 140,562 | |||||||
Short-term Debt, Fair Value | 3,942 | 3,942 | 9,186 | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 4,916 | 4,916 | 8,229 | |||||||
Trading assets | 982 | 982 | 1,000 | |||||||
Available-for-sale Securities | 3,176 | 3,176 | 2,059 | |||||||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Trading Liabilities, Fair Value Disclosure | 939 | 939 | 929 | |||||||
Long-term Debt, Fair Value | 0 | 0 | 0 | |||||||
Loans Net Fair Value Disclosure | 0 | 0 | 0 | |||||||
Consumer And Commercial Deposits, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Short-term Debt, Fair Value | 0 | 0 | 0 | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Trading assets | 5,517 | 5,517 | 5,177 | |||||||
Available-for-sale Securities | 23,527 | 23,527 | 23,765 | |||||||
Loans Held-for-sale, Fair Value Disclosure | 2,007 | 2,007 | 2,063 | |||||||
Trading Liabilities, Fair Value Disclosure | 385 | 385 | 293 | |||||||
Long-term Debt, Fair Value | 7,852 | 7,852 | 12,398 | |||||||
Loans Net Fair Value Disclosure | 406 | 406 | 545 | |||||||
Consumer And Commercial Deposits, Fair Value Disclosure | 146,407 | 146,407 | 140,562 | |||||||
Short-term Debt, Fair Value | 3,942 | 3,942 | 9,186 | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Trading assets | 38 | 38 | 25 | |||||||
Available-for-sale Securities | 567 | 567 | 946 | |||||||
Loans Held-for-sale, Fair Value Disclosure | 27 | 27 | 1,177 | |||||||
Trading Liabilities, Fair Value Disclosure | 6 | 6 | 5 | |||||||
Long-term Debt, Fair Value | 551 | 551 | 658 | |||||||
Loans Net Fair Value Disclosure | 128,640 | 128,640 | 126,310 | |||||||
Consumer And Commercial Deposits, Fair Value Disclosure | 0 | 0 | 0 | |||||||
Short-term Debt, Fair Value | 0 | 0 | 0 | |||||||
Reported Value Measurement [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Cash and Cash Equivalents, Fair Value Disclosure | 4,916 | 4,916 | 8,229 | |||||||
Trading assets | 6,537 | 6,537 | 6,202 | |||||||
Available-for-sale Securities | 27,270 | 27,270 | 26,770 | |||||||
Loans Held-for-sale, Fair Value Disclosure | 2,032 | 2,032 | 3,232 | |||||||
Trading Liabilities, Fair Value Disclosure | 1,330 | 1,330 | 1,227 | |||||||
Long-term Debt, Fair Value | 8,444 | 8,444 | 13,022 | |||||||
Loans Net Fair Value Disclosure | 131,774 | 131,774 | 131,175 | |||||||
Consumer And Commercial Deposits, Fair Value Disclosure | 146,371 | 146,371 | 140,567 | |||||||
Short-term Debt, Fair Value | 3,942 | 3,942 | 9,186 | |||||||
Affordable Housing [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Asset Impairment Charges | 15 | |||||||||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Asset Impairment Charges | $ 36 | 0 | 21 | |||||||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Asset Impairment Charges | 1 | 7 | 64 | |||||||
Other Assets [Member] | Property Subject to Operating Lease [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Asset Impairment Charges | 59 | |||||||||
Other Assets [Member] | Land [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Asset Impairment Charges | 1 | 1 | 5 | |||||||
Other Trading [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Derivative Assets | 1,449 | 1,449 | 1,307 | |||||||
Derivative Liabilities | 565 | 565 | 462 | |||||||
Trading Account Assets [Member] | Commercial and Corporate Leveraged Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Loans Receivable, Fair Value Disclosure | 261 | 261 | 284 | |||||||
Equity Securities [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Trading assets | 65 | 65 | 45 | |||||||
Available-for-sale Securities | [11] | 551 | 551 | 923 | ||||||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||
Investments, Fair Value Disclosure | $ 6 | $ 6 | $ 7 | |||||||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | |||||||||
[2] | At September 30, 2015, $1.4 billion, net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | |||||||||
[3] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. | |||||||||
[4] | At September 30, 2015, $565 million, net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. | |||||||||
[5] | Includes contingent consideration obligations related to acquisitions. | |||||||||
[6] | Includes contingent consideration obligations related to acquisitions. | |||||||||
[7] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. | |||||||||
[8] | Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists. | |||||||||
[9] | Includes $111 million of mutual fund investments, $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $6 million of other. | |||||||||
[10] | Includes $138 million of mutual fund investments, $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, and $7 million of other. | |||||||||
[11] | At September 30, 2015, the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $111 million of mutual fund investments, and $6 million of other. At December 31, 2014, the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million of mutual fund investments, and $7 million of other. |
Assets and Liabilities Measu100
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Derivative Assets | [1] | $ 1,449 | $ 1,449 | $ 1,307 | ||
Derivative Liabilities | [2] | 565 | 565 | 462 | ||
Interest Rate Lock Commitments [Member] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 41 | $ 64 | 138 | $ 181 | ||
Federal Reserve Bank Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||||||
Investments, Fair Value Disclosure | 402 | 402 | 402 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Asset Impairment Charges | $ 1 | $ 7 | 64 | |||
Other Assets [Member] | Property Subject to Operating Lease [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Asset Impairment Charges | $ 59 | |||||
[1] | At September 30, 2015, $1.4 billion, net of $541 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $1.3 billion, net of $449 million offsetting cash collateral, is recognized in trading assets and derivative instruments within the Company's Consolidated Balance Sheets. | |||||
[2] | At September 30, 2015, $565 million, net of $1.1 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. At December 31, 2014, $462 million, net of $1.0 billion offsetting cash collateral, is recognized in trading liabilities and derivative instruments within the Company's Consolidated Balance Sheets. |
Fair Value Option Elected, Diff
Fair Value Option Elected, Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |||||
Loans Receivable, Fair Value Disclosure | $ 262 | $ 262 | $ 272 | ||||||
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | 79 | 79 | 107 | ||||||
Trading Loans [Member] | |||||||||
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 52 | 52 | 21 | ||||||
Loans Receivable, Fair Value Disclosure | 2,739 | 2,739 | 2,610 | ||||||
Aggregate Unpaid Principal Balance Under the Fair Value Option | (2,687) | (2,687) | (2,589) | ||||||
Loans Held For Sale [Member] | |||||||||
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 77 | 77 | 74 | ||||||
Loans Receivable, Fair Value Disclosure | 1,883 | 1,883 | 1,891 | ||||||
Aggregate Unpaid Principal Balance Under the Fair Value Option | (1,806) | (1,806) | (1,817) | ||||||
Loans Held For Investment [Member] | |||||||||
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | (9) | (9) | (12) | ||||||
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference | (1) | (1) | (2) | ||||||
Loans Receivable, Fair Value Disclosure | 260 | 260 | 269 | ||||||
Aggregate Unpaid Principal Balance Under the Fair Value Option | (269) | (269) | (281) | ||||||
Long-Term Debt [Domain] | |||||||||
Obligations, Fair Value Disclosure | 986 | 986 | 1,283 | ||||||
Aggregate Unpaid Principal Balance Under the Fair Value Option | 907 | 907 | 1,176 | ||||||
Loans Held For Investment [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 4 | $ 0 | [1] | 3 | [2] | $ 8 | [1] | ||
Nonaccrual loans | 2 | 2 | 3 | ||||||
Loans Held For Investment [Member] | Aggregate Unpaid Principal Balance Under Fair Value Option | |||||||||
Nonaccrual loans | 3 | 3 | 5 | ||||||
Loans Held For Sale [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 20 | [2] | (32) | [1] | 32 | [2] | (18) | [1] | |
Nonaccrual loans | 1 | ||||||||
Fair Value, Option, Loans Held as Assets, Aggregate Amount in Nonaccrual Status, Aggregated Difference | 0 | ||||||||
Loans Held For Sale [Member] | Aggregate Unpaid Principal Balance Under Fair Value Option | |||||||||
Nonaccrual loans | $ 1 | ||||||||
Mortgage Servicing Income [Member] | Loans Held For Investment [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Mortgage Servicing Income [Member] | Loans Held For Sale [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 0 | $ 0 | $ 0 | $ 0 | |||||
[1] | Changes in fair value for the three and nine months ended September 30, 2014 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. | ||||||||
[2] | Changes in fair value for the three and nine months ended September 30, 2015 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. |
Change in Fair Value of Financi
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||||||
Mortgage Servicing Rights [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 198 | [1] | $ 55 | [2] | $ 234 | [1] | $ 238 | [2] | |
Mortgage Servicing Rights [Member] | Other Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Mortgage Servicing Rights [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Mortgage Servicing Rights [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | (1) | (2) | |||||
Mortgage Servicing Rights [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 198 | 55 | 235 | 240 | |||||
Long-term Debt [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (9) | [1] | (9) | [2] | (28) | [1] | (6) | [2] | |
Long-term Debt [Member] | Other Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Long-term Debt [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (9) | (9) | (28) | (6) | |||||
Long-term Debt [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Long-term Debt [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Brokered Deposits [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | [2] | (1) | (6) | ||||||
Brokered Deposits [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (1) | (6) | |||||||
Brokered Deposits [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Brokered Deposits [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Loans Held For Investment [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (4) | 0 | [2] | (3) | [1] | (8) | [2] | ||
Loans Held For Investment [Member] | Other Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (4) | (3) | |||||||
Loans Held For Investment [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Loans Held For Investment [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | (8) | |||||
Loans Held For Investment [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Loans Held For Sale [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (20) | [1] | 32 | [2] | (32) | [1] | 18 | [2] | |
Loans Held For Sale [Member] | Other Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Loans Held For Sale [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Loans Held For Sale [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (20) | 32 | (32) | 18 | |||||
Loans Held For Sale [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Trading Account Assets [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 1 | [1] | (1) | [2] | (1) | [1] | (10) | [2] | |
Trading Account Assets [Member] | Other Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | |||||||
Trading Account Assets [Member] | Trading Revenue [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 1 | (1) | (1) | (10) | |||||
Trading Account Assets [Member] | Mortgage Production Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 0 | 0 | 0 | 0 | |||||
Trading Account Assets [Member] | Mortgage Servicing Income [Member] | |||||||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 0 | $ 0 | $ 0 | $ 0 | |||||
[1] | Changes in fair value for the three and nine months ended September 30, 2015 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. | ||||||||
[2] | Changes in fair value for the three and nine months ended September 30, 2014 exclude accrued interest for the period then ended. Interest income or interest expense on trading loans, LHFS, LHFI, brokered time deposits, and long-term debt that have been elected to be measured at fair value are recognized in interest income or interest expense in the Consolidated Statements of Income. |
Change in Fair Value of Fina103
Change in Fair Value of Financial Instruments for which the FVO has been Elected (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Income recognized upon the sale of loans | $ 9 | $ 40 | $ 22 | $ 71 | |
Fair Value, Measurements, Nonrecurring [Member] | Other Assets [Member] | |||||
Asset Impairment Charges | 1 | 7 | $ 64 | ||
Fair Value, Measurements, Nonrecurring [Member] | Other Assets [Member] | Land [Member] | |||||
Asset Impairment Charges | $ 1 | $ 1 | $ 5 |
Fair Value Measurement and Elec
Fair Value Measurement and Election - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
ALLL Impact for NPL Loans Transferred to Loans Held for Sale | $ 11 | |||||
Estimated Fair Value of Loan Portfolio's Net Carrying Value, Percentage | 100.00% | 100.00% | 100.00% | |||
Assets | $ 187,036 | $ 187,036 | $ 190,328 | |||
Loans Receivable, Fair Value Disclosure | 262 | 262 | 272 | |||
Allowance for Loan and Lease Losses, Write-offs | 102 | $ 164 | 356 | $ 473 | ||
Loans held for investment sold | 178 | 2,300 | 1,994 | 2,954 | ||
Gain (Loss) on Sales of Loans, Net | 9 | 40 | 22 | 71 | ||
Unfunded loan commitments and letters of credit | 63,900 | 63,900 | 56,500 | |||
Allowance for unfunded loan commitments and letters of credit | 64 | 64 | 59 | |||
Total Return Swap | Fair Value, Inputs, Level 2 [Member] | ||||||
Loans Receivable, Fair Value Disclosure | 2,400 | 2,400 | 2,300 | |||
Interest Rate Lock Commitments [Member] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 41 | 64 | 138 | 181 | ||
Trading Account Assets [Member] | Commercial and Corporate Leveraged Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Loans Receivable, Fair Value Disclosure | 261 | 261 | 284 | |||
Long-term Debt [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Option, Credit Risk, Gains (Losses) on Liabilities | $ 2 | $ 24 | ||||
Loans Held For Sale [Member] | ||||||
Loans Receivable, Fair Value Disclosure | 1,883 | 1,883 | 1,891 | |||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Assets | 584 | 584 | 704 | |||
Commercial and Corporate Loans [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Preference Shares [Member] | ||||||
Assets | 2 | 2 | 3 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | 0 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Loans Receivable, Fair Value Disclosure | 262 | 262 | 272 | |||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Asset Impairment Charges | 2 | 3 | 6 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Asset Impairment Charges | 1 | 7 | 64 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||||||
Asset Impairment Charges | 1 | 1 | 5 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Property Subject to Operating Lease [Member] | ||||||
Asset Impairment Charges | 59 | |||||
Affordable Housing [Member] | ||||||
Asset Impairment Charges | 15 | |||||
Gains (Losses) on Sales of Investment Real Estate | $ 0 | 19 | ||||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Asset Impairment Charges | $ 36 | $ 0 | $ 21 |
Fair Value Election and Meas105
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2014 | ||||
level 3 fair value assumptions [Line Items] | |||||
Trading assets | [1] | $ 6,537 | $ 6,202 | ||
Available-for-sale Securities | [2] | 27,270 | 26,770 | ||
Loans Held-for-sale, Fair Value Disclosure | 1,883 | 1,892 | |||
Loans Receivable, Fair Value Disclosure | 262 | 272 | |||
Servicing Asset at Fair Value, Amount | 1,262 | 1,206 | |||
Other Liabilities, Fair Value Disclosure | 23 | [3] | 27 | [4] | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Trading assets | 38 | 25 | |||
Available-for-sale Securities | 567 | 946 | |||
Loans Receivable, Fair Value Disclosure | 262 | 272 | |||
Servicing Asset at Fair Value, Amount | 1,262 | 1,206 | |||
Other Liabilities, Fair Value Disclosure | 23 | [3] | 27 | [4] | |
Fair Value, Measurements, Recurring [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Other Assets, Fair Value Disclosure | $ 32 | [5] | $ 20 | [6] | |
Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
fair value inputs, loan production volume | 0.00% | 0.00% | |||
Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
fair value inputs, loan production volume | 150.00% | 150.00% | |||
Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
fair value inputs, loan production volume | 150.00% | 1.07% | |||
Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Income Approach Valuation Technique [Member] | Loan Production Volume [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Other Liabilities, Fair Value Disclosure | $ 23 | [7] | $ 27 | [8] | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 440 | 785 | |||
Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, indicative pricing based on overcollateralization ratio | $ 0 | ||||
Fair Value Inputs, Estimated Collateral Losses | 0.00% | ||||
Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, indicative pricing based on overcollateralization ratio | $ 0 | ||||
Fair Value Inputs, Estimated Collateral Losses | 0.00% | ||||
Fair Value, Measurements, Recurring [Member] | Collateralized Debt Obligations [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, indicative pricing based on overcollateralization ratio | $ 0 | ||||
Fair Value Inputs, Estimated Collateral Losses | 0.00% | ||||
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 15 | $ 21 | |||
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Indicative Pricing | 0 | ||||
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Indicative Pricing | 0 | ||||
Fair Value, Measurements, Recurring [Member] | Other Debt Obligations [Member] | Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 5 | 5 | |||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 12 | ||||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 5 | ||||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Available-for-sale Securities | 102 | 123 | |||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage, Loans Held For Sale [Member] | Income Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Held-for-sale, Fair Value Disclosure | $ 2 | $ 1 | |||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage, Loans Held For Sale [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 1.43% | 1.45% | |||
Fair Value Inputs, Prepayment Rate | 3.00% | 1.00% | |||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | |||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage, Loans Held For Sale [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 1.62% | 2.25% | |||
Fair Value Inputs, Prepayment Rate | 17.00% | 30.00% | |||
Fair Value Inputs, Probability of Default | 2.00% | 3.00% | |||
Fair Value, Measurements, Recurring [Member] | Residential Mortgage, Loans Held For Sale [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 1.56% | 1.57% | |||
Fair Value Inputs, Prepayment Rate | 11.00% | 15.00% | |||
Fair Value Inputs, Probability of Default | 0.50% | 0.75% | |||
Fair Value, Measurements, Recurring [Member] | Loans Held For Investment [Member] | Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Receivable, Fair Value Disclosure | $ 2 | $ 3 | |||
Fair Value, Measurements, Recurring [Member] | Loans Held For Investment [Member] | Income Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Loans Receivable, Fair Value Disclosure | $ 260 | $ 269 | |||
Fair Value, Measurements, Recurring [Member] | Loans Held For Investment [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 0.00% | 0.00% | |||
Fair Value Inputs, Prepayment Rate | 5.00% | 4.00% | |||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | |||
Fair Value, Measurements, Recurring [Member] | Loans Held For Investment [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 4.52% | 4.50% | |||
Fair Value Inputs, Prepayment Rate | 36.00% | 30.00% | |||
Fair Value Inputs, Probability of Default | 5.00% | 7.00% | |||
Fair Value, Measurements, Recurring [Member] | Loans Held For Investment [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 2.69% | 2.86% | |||
Fair Value Inputs, Prepayment Rate | 13.00% | 13.75% | |||
Fair Value Inputs, Probability of Default | 1.68% | 1.75% | |||
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Servicing Asset at Fair Value, Amount | $ 1,262 | $ 1,206 | |||
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | (5.00%) | ||||
Fair Value Inputs, Prepayment Rate | 2.00% | 2.00% | |||
Fair Value Inputs, Discount Rate | (1.00%) | ||||
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 107.00% | ||||
Fair Value Inputs, Prepayment Rate | 21.00% | 47.00% | |||
Fair Value Inputs, Discount Rate | 122.00% | ||||
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Option Adjusted Spread | 8.00% | ||||
Fair Value Inputs, Prepayment Rate | 11.00% | 11.00% | |||
Fair Value Inputs, Discount Rate | 10.00% | ||||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Pull Through Rate | 39.00% | 40.00% | |||
Fair Value Inputs, Msr Value | 0.26% | 0.39% | |||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Pull Through Rate | 100.00% | 100.00% | |||
Fair Value Inputs, Msr Value | 2.01% | 2.18% | |||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
level 3 fair value assumptions [Line Items] | |||||
Fair Value Inputs, Pull Through Rate | 75.00% | 75.00% | |||
Fair Value Inputs, Msr Value | 1.00% | 1.07% | |||
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | ||||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. | ||||
[3] | Includes contingent consideration obligations related to acquisitions. | ||||
[4] | Includes contingent consideration obligations related to acquisitions. | ||||
[5] | Represents the net of IRLC assets and liabilities entered into by the Mortgage Banking segment and includes the derivative liability associated with the Company's sale of Visa shares. | ||||
[6] | Represents the net of IRLC assets and liabilities entered into by the Mortgage Banking segment and includes the derivative liability associated with the Company's sale of Visa shares. | ||||
[7] | Input assumptions relate to the Company's contingent consideration obligations related to acquisitions. See Note 12, "Guarantees," for additional information. | ||||
[8] | Input assumptions relate to the Company's contingent consideration obligations related to acquisitions. See Note 12, "Guarantees," for additional information. |
Fair Value Election and Meas106
Fair Value Election and Measurement Level 3 Significant Unobservable Input Assumptions (Additional Information) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||||
Other Liabilities, Fair Value Disclosure | $ 23 | [1] | $ 27 | [2] |
[1] | Includes contingent consideration obligations related to acquisitions. | |||
[2] | Includes contingent consideration obligations related to acquisitions. |
Reconciliation of the Beginning
Reconciliation of the Beginning and Ending Balances for Fair Valued Assets and Liabilities Measured on a Recurring Basis Using Significant Unobservable Inputs (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | ||||||
Loans Held For Sale [Member] | Residential Mortgage, Loans Held For Sale [Member] | |||||||||||||
Included in earnings | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||
OCI | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | (7) | (3) | (16) | (7) | |||||||||
Settlements | 0 | 0 | 0 | 0 | |||||||||
Transfers to other balance sheet line items | (1) | 0 | (2) | (6) | |||||||||
Transfers into Level 3 | 8 | 1 | 19 | 12 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | (1) | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 2 | 1 | 2 | 1 | $ 2 | $ 1 | $ 3 | $ 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | 0 | 0 | 0 | |||||||||
Trading Account Assets [Member] | |||||||||||||
Included in earnings | 192 | ||||||||||||
OCI | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | ||||||||||||
Sales | (72) | ||||||||||||
Settlements | 2 | ||||||||||||
Transfers to other balance sheet line items | (185) | ||||||||||||
Transfers into Level 3 | 0 | ||||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 5 | 5 | 68 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | (10) | ||||||||||||
Trading Account Assets [Member] | Asset-backed Securities [Member] | |||||||||||||
Included in earnings | [1] | 1 | |||||||||||
OCI | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | ||||||||||||
Sales | (7) | ||||||||||||
Settlements | 0 | ||||||||||||
Transfers to other balance sheet line items | 0 | ||||||||||||
Transfers into Level 3 | 0 | ||||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 6 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | ||||||||||||
Trading Account Assets [Member] | Collateralized Debt Obligations [Member] | |||||||||||||
Included in earnings | [1] | 11 | |||||||||||
OCI | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | ||||||||||||
Sales | (65) | ||||||||||||
Settlements | 0 | ||||||||||||
Transfers to other balance sheet line items | 0 | ||||||||||||
Transfers into Level 3 | 0 | ||||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | ||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 0 | 54 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | ||||||||||||
Trading Assets [Member] | Derivative contracts, net [Member] | |||||||||||||
Included in earnings | 58 | [2] | 47 | [3] | 148 | [2] | 180 | [3] | |||||
OCI | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | 1 | 1 | 2 | 2 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 32 | 5 | 32 | 5 | 14 | 20 | 21 | 8 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | (1) | [2],[4] | 16 | [3],[5] | (5) | [2],[4] | (10) | [3],[5] | |||||
Available-for-sale Securities [Member] | |||||||||||||
Included in earnings | (1) | (1) | (1) | (3) | [6] | ||||||||
OCI | (1) | (1) | 0 | 5 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 5 | 135 | 109 | 270 | |||||||||
Sales | 0 | 0 | 0 | (20) | |||||||||
Settlements | (155) | (97) | (487) | (211) | |||||||||
Transfers to other balance sheet line items | 0 | 6 | 0 | 6 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 567 | 1,000 | 567 | 1,000 | 719 | 946 | 958 | 953 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | (1) | (1) | (1) | (1) | |||||||||
Available-for-sale Securities [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||||||||||
Included in earnings | 0 | 0 | 0 | (2) | |||||||||
OCI | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | (20) | |||||||||
Settlements | 0 | 0 | (7) | 0 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 5 | 12 | 5 | 12 | 5 | 12 | 12 | 34 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | 0 | 0 | 0 | |||||||||
Available-for-sale Securities [Member] | Asset-backed Securities [Member] | |||||||||||||
Included in earnings | 0 | 0 | 0 | 0 | |||||||||
OCI | 0 | 0 | 0 | 1 | [7] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | (2) | (1) | (6) | (1) | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 15 | 21 | 15 | 21 | 17 | 21 | 22 | 21 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | 0 | 0 | 0 | |||||||||
Available-for-sale Securities [Member] | Other Debt Obligations [Member] | |||||||||||||
Included in earnings | 0 | 0 | 0 | 0 | |||||||||
OCI | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 5 | 0 | 5 | 0 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | (3) | 0 | (5) | 0 | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 5 | 5 | 5 | 5 | 3 | 5 | 5 | 5 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | 0 | 0 | 0 | |||||||||
Available-for-sale Securities [Member] | Equity Securities [Member] | |||||||||||||
Included in earnings | 0 | 0 | 0 | 0 | |||||||||
OCI | (2) | [8] | 0 | 2 | [8] | 0 | |||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 135 | 104 | 270 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | (140) | (90) | (447) | (185) | |||||||||
Transfers to other balance sheet line items | 0 | 6 | 0 | 6 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 440 | 830 | 440 | 830 | 582 | 785 | 779 | 739 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 0 | 0 | 0 | 0 | |||||||||
Available-for-sale Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||||||||||
Included in earnings | (1) | (1) | (1) | (1) | |||||||||
OCI | 1 | [8] | (1) | [7] | 2 | [8] | 4 | [7] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | (10) | (6) | (22) | (25) | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | 0 | |||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 102 | 132 | 102 | 132 | 112 | 123 | 140 | 154 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | (1) | (1) | (1) | (1) | |||||||||
Loans Held For Investment [Member] | |||||||||||||
Included in earnings | 3 | [9] | (1) | [10] | 3 | [9] | 9 | [10] | |||||
OCI | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 | |||||||||
Sales | 0 | 0 | 0 | 0 | |||||||||
Settlements | (8) | (8) | (32) | (31) | |||||||||
Transfers to other balance sheet line items | 0 | (2) | (1) | 3 | |||||||||
Transfers into Level 3 | 4 | 1 | 20 | 1 | |||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 262 | 284 | 262 | 284 | 263 | 272 | 292 | 302 | |||||
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) Included in Other Income | 3 | [4],[9] | 1 | [5],[10] | 1 | [4],[9] | 6 | [5],[10] | |||||
Other Liabilities [Member] | |||||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales | 0 | 0 | 0 | 0 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 0 | (3) | (10) | (3) | |||||||||
Transfers to other balance sheet line items | 0 | 0 | 0 | (3) | |||||||||
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liabilities Transfers Into Level 3 | 0 | 0 | 0 | 0 | |||||||||
Fair Value Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liabilities Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |||||||||
Change in unrealized gains / (losses) included in earnings for the period related to financial assets still held at the end of period | 0 | [4],[11] | 0 | [5],[12] | 6 | [4],[11] | 0 | [5],[12] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 23 | 24 | 23 | 24 | $ 23 | $ 27 | $ 27 | $ 29 | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | 0 | 0 | [12] | 6 | [11] | 1 | [12] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |||||||||
Interest Rate Lock Commitments [Member] | |||||||||||||
Transferred Out of Level 3 in The Fair Value Hierarchy | (41) | (64) | (138) | (181) | |||||||||
Interest Rate Lock Commitments [Member] | Trading Assets [Member] | Derivative contracts, net [Member] | |||||||||||||
Transfers to other balance sheet line items | $ (41) | $ (64) | $ (138) | $ (185) | |||||||||
[1] | Amounts included in earnings are recognized in trading income. | ||||||||||||
[2] | Includes issuances, fair value changes, and expirations and are recognized in mortgage production related income. | ||||||||||||
[3] | Includes issuances, fair value changes, and expirations and are recognized in mortgage production related income. | ||||||||||||
[4] | Change in unrealized gains/(losses) included in earnings during the period related to financial assets/liabilities still held at September 30, 2015 | ||||||||||||
[5] | Change in unrealized gains/(losses) included in earnings for the period related to financial assets/liabilities still held at September 30, 2014 | ||||||||||||
[6] | Amounts included in earnings are recognized in net securities gains/(losses). | ||||||||||||
[7] | Amounts recognized in OCI are included in change in net unrealized gains/(losses) on securities AFS, net of tax | ||||||||||||
[8] | Amount recognized in OCI is included in change in net unrealized gains/(losses) on securities AFS, net of tax. | ||||||||||||
[9] | Amounts are generally included in mortgage production related income; however, the mark on certain fair value loans is included in other noninterest income | ||||||||||||
[10] | Amounts are generally included in mortgage production related income; however, the mark on certain fair value loans is included in trading income. | ||||||||||||
[11] | Amounts included in earnings are recognized in other noninterest expense | ||||||||||||
[12] | Amounts included in earnings are recognized in other noninterest expense. |
Carrying Value of Those Assets
Carrying Value of Those Assets Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
LHFS Nonperforming Loans Sold | $ 92 | |||||
Gain on Sale of Nonrecurring Nonperforming LHFS | 10 | |||||
ALLL Impact for NPL Loans Transferred to Loans Held for Sale | 11 | |||||
Loans held for investment sold | 178 | $ 2,300 | $ 1,994 | $ 2,954 | ||
Loans Receivable, Fair Value Disclosure | 262 | 262 | $ 272 | |||
Gain (Loss) on Sales of Loans, Net | 9 | $ 40 | 22 | $ 71 | ||
Loans Held For Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 1,108 | |||||
Asset Impairment Charges | (6) | |||||
Loans Held For Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 121 | |||||
Loans Held For Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 45 | |||||
Loans Held For Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 942 | |||||
Loans Held For Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 17 | 17 | 24 | |||
Asset Impairment Charges | 0 | 0 | ||||
Loans Held For Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | |||
Loans Held For Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | |||
Loans Held For Investment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 17 | 17 | 24 | |||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 17 | 17 | 29 | |||
Asset Impairment Charges | (2) | (3) | (6) | |||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | |||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 1 | 1 | 1 | |||
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 16 | 16 | 28 | |||
Affordable Housing [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Gains (Losses) on Sales of Investment Real Estate | 0 | 19 | ||||
Asset Impairment Charges | (15) | |||||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 77 | |||||
Asset Impairment Charges | $ (36) | 0 | (21) | |||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | |||||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | |||||
Affordable Housing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 77 | |||||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 39 | 39 | 225 | |||
Asset Impairment Charges | (1) | (7) | (64) | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 32 | 32 | 216 | |||
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Assets, Fair Value Disclosure | 7 | 7 | 9 | |||
Loans Held For Sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans Receivable, Fair Value Disclosure | 1,883 | 1,883 | 1,891 | |||
Total Return Swap | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans Receivable, Fair Value Disclosure | 2,400 | 2,400 | 2,300 | |||
Land [Member] | Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Asset Impairment Charges | $ (1) | $ (1) | $ (5) |
Carrying Amounts and Fair Value
Carrying Amounts and Fair Values of the Company's Financial Instruments (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financial assets | ||||
Trading assets | [1] | $ 6,537 | $ 6,537 | $ 6,202 |
Available-for-sale Securities | [2] | 27,270 | 27,270 | 26,770 |
Loans Held-for-sale, Fair Value Disclosure | 1,883 | 1,883 | 1,892 | |
Financial liabilities | ||||
Long-term Debt, Fair Value | 986 | 986 | 1,283 | |
Trading liabilities | 1,330 | 1,330 | 1,227 | |
Reported Value Measurement [Member] | ||||
Financial assets | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 4,916 | 4,916 | 8,229 | |
Trading assets | 6,537 | 6,537 | 6,202 | |
Available-for-sale Securities | 27,270 | 27,270 | 26,770 | |
Loans Held-for-sale, Fair Value Disclosure | 2,032 | 2,032 | 3,232 | |
Loans Net Fair Value Disclosure | 131,774 | 131,774 | 131,175 | |
Financial liabilities | ||||
Consumer And Commercial Deposits, Fair Value Disclosure | 146,371 | 146,371 | 140,567 | |
Long-term Debt, Fair Value | 8,444 | 8,444 | 13,022 | |
Trading liabilities | 1,330 | 1,330 | 1,227 | |
Affordable Housing [Member] | ||||
Gains (Losses) on Sales of Investment Real Estate | 0 | (19) | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Trading assets | 982 | 982 | 1,000 | |
Available-for-sale Securities | 3,176 | 3,176 | 2,059 | |
Financial liabilities | ||||
Long-term Debt, Fair Value | 0 | 0 | 0 | |
Trading liabilities | 939 | 939 | 929 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets | ||||
Trading assets | 9,326 | 9,326 | 9,709 | |
Available-for-sale Securities | 23,527 | 23,527 | 23,765 | |
Financial liabilities | ||||
Long-term Debt, Fair Value | 986 | 986 | 1,283 | |
Trading liabilities | 4,750 | 4,750 | 5,408 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Trading assets | 38 | 38 | 25 | |
Available-for-sale Securities | 567 | 567 | 946 | |
Financial liabilities | ||||
Long-term Debt, Fair Value | 0 | 0 | 0 | |
Trading liabilities | 6 | 6 | 5 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Trading assets | 0 | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | 0 | |
Financial liabilities | ||||
Trading liabilities | 0 | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets | ||||
Trading assets | 565 | 565 | 545 | |
Available-for-sale Securities | 22,905 | 22,905 | 23,048 | |
Financial liabilities | ||||
Trading liabilities | 4 | 4 | 1 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Trading assets | 0 | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | 0 | |
Financial liabilities | ||||
Trading liabilities | $ 0 | $ 0 | $ 0 | |
[1] | Includes trading securities pledged as collateral where counterparties have the right to sell or repledge the collateral of $1,152 million and $1,316 million at September 30, 2015 and December 31, 2014, respectively | |||
[2] | Includes securities AFS pledged as collateral where counterparties have the right to sell or repledge the collateral of $0 million and $369 million at September 30, 2015 and December 31, 2014, respectively. |
Contingencies - Additional Info
Contingencies - Additional Information (Detail) - USD ($) $ in Millions | Jul. 25, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2015 |
Minimum [Member] | ||||
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability | $ 0 | |||
Maximum [Member] | ||||
Aggregate range of reasonably possible losses on legal matters in excess of the accrued liability | 160 | |||
Mortgage Modification Investigation and HAMP [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 204 | |||
Total Cash Payment for Settlement [Domain] | Mortgage Modification Investigation and HAMP [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 46 | |||
Consumer Remediation [Member] | Mortgage Modification Investigation and HAMP [Member] | ||||
Loss Contingency, Damages Awarded, Value | 179 | |||
Consumer Remediation [Member] | Mortgage Modification Investigation and HAMP [Member] | Maximum [Member] | ||||
Loss Contingency, Damages Awarded, Value | 274 | |||
Cash payment for litigation [Member] | Potential Mortgage Servicing Settlement and Claims [Member] | ||||
Loss Contingency, Damages Awarded, Value | 50 | |||
Housing counseling for homeowners [Member] | Mortgage Modification Investigation and HAMP [Member] | ||||
Loss Contingency, Damages Awarded, Value | 20 | |||
Civil money penalty [Member] | Consent Order Foreclosure Actions [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 160 | |||
Consumer relief obligation [Member] | Potential Mortgage Servicing Settlement and Claims [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 500 | |||
Mortgage Modification Investigation and HAMP [Member] | Restitution to Fannie Mae and Freddie Mac [Member] | ||||
Loss Contingency, Damages Awarded, Value | 10 | |||
Mortgage Modification Investigation and HAMP [Member] | Cash payment for litigation [Member] | ||||
Loss Contingency, Damages Awarded, Value | $ 16 |
Business Segment Reporting (Det
Business Segment Reporting (Detail) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)segments | Sep. 30, 2014USD ($) | |||||
Number of Operating Segments | segments | 3 | |||||||
Segment Reporting Information Average Total Loans | $ 132,837 | $ 130,747 | $ 133,000 | $ 130,010 | ||||
Segment Reporting Information Average Total Deposits | 145,226 | 132,195 | 142,869 | 130,369 | ||||
Average total assets | 188,341 | 183,433 | 188,635 | 180,098 | ||||
Average total liabilities | 164,957 | 161,242 | 165,369 | 158,126 | ||||
Average total equity | 23,384 | 22,191 | 23,266 | 21,972 | ||||
Net, interest income | 1,211 | 1,215 | 3,518 | 3,629 | ||||
FTE adjustment | 36 | 36 | 107 | 105 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | 1,247 | [1] | 1,251 | [1] | 3,625 | [2] | 3,734 | [2] |
Provision for Loan, Lease, and Other Losses | 32 | [3] | 93 | [3] | 114 | [4] | 268 | [4] |
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 1,215 | 1,158 | 3,511 | 3,466 | ||||
Total noninterest income | 811 | 780 | 2,503 | 2,528 | ||||
Noninterest Expense | 1,264 | 1,259 | 3,872 | 4,134 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 762 | 679 | 2,142 | 1,860 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 223 | [5] | 103 | [5] | 686 | [6] | 469 | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 539 | 576 | 1,456 | 1,391 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 0 | 7 | 11 | ||||
Net Income (Loss) Attributable to Parent | 537 | 576 | 1,449 | 1,380 | ||||
Consumer Banking and Private Wealth Management [Member] | ||||||||
Segment Reporting Information Average Total Loans | 40,206 | 41,904 | 40,556 | 41,564 | ||||
Segment Reporting Information Average Total Deposits | 91,016 | 86,194 | 90,935 | 85,190 | ||||
Average total assets | 45,874 | 47,586 | 46,493 | 47,244 | ||||
Average total liabilities | 91,671 | 86,888 | 91,578 | 85,931 | ||||
Average total equity | 0 | 0 | 0 | 0 | ||||
Net, interest income | 688 | 666 | 2,029 | 1,957 | ||||
FTE adjustment | 0 | 0 | 0 | 0 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | 688 | [1] | 666 | [1] | 2,029 | [2] | 1,957 | [2] |
Provision for Loan, Lease, and Other Losses | 22 | [3] | 40 | [3] | 101 | [4] | 135 | [4] |
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 666 | 626 | 1,928 | 1,822 | ||||
Total noninterest income | 384 | 399 | 1,136 | 1,141 | ||||
Noninterest Expense | 720 | 720 | 2,167 | 2,154 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 330 | 305 | 897 | 809 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 123 | [5] | 112 | [5] | 334 | [6] | 297 | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 207 | 193 | 563 | 512 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 207 | 193 | 563 | 512 | ||||
Wholesale Banking [Member] | ||||||||
Segment Reporting Information Average Total Loans | 67,274 | 63,542 | 67,547 | 61,297 | ||||
Segment Reporting Information Average Total Deposits | 51,237 | 43,319 | 49,147 | 42,899 | ||||
Average total assets | 80,097 | 75,156 | 80,777 | 72,646 | ||||
Average total liabilities | 56,611 | 49,955 | 54,826 | 49,594 | ||||
Average total equity | 0 | 0 | 0 | 0 | ||||
Net, interest income | 447 | 419 | 1,321 | 1,220 | ||||
FTE adjustment | 35 | 34 | 103 | 102 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | 482 | [1] | 453 | [1] | 1,424 | [2] | 1,322 | [2] |
Provision for Loan, Lease, and Other Losses | 47 | [3] | 9 | [3] | 73 | [4] | 39 | [4] |
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 435 | 444 | 1,351 | 1,283 | ||||
Total noninterest income | 293 | 241 | 949 | 828 | ||||
Noninterest Expense | 388 | 367 | 1,189 | 1,180 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 340 | 318 | 1,111 | 931 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 109 | [5] | 94 | [5] | 371 | [6] | 296 | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 231 | 224 | 740 | 635 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 231 | 224 | 740 | 635 | ||||
Mortgage Banking | ||||||||
Segment Reporting Information Average Total Loans | 25,299 | 25,261 | 24,847 | 27,106 | ||||
Segment Reporting Information Average Total Deposits | 2,918 | 2,664 | 2,754 | 2,260 | ||||
Average total assets | 29,280 | 30,447 | 28,595 | 31,078 | ||||
Average total liabilities | 3,290 | 3,085 | 3,139 | 2,763 | ||||
Average total equity | 0 | 0 | 0 | 0 | ||||
Net, interest income | 123 | 148 | 366 | 422 | ||||
FTE adjustment | 0 | 0 | 0 | 0 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | 123 | [1] | 148 | [1] | 366 | [2] | 422 | [2] |
Provision for Loan, Lease, and Other Losses | (38) | [3] | 44 | [3] | (61) | [4] | 94 | [4] |
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 161 | 104 | 427 | 328 | ||||
Total noninterest income | 109 | 130 | 346 | 350 | ||||
Noninterest Expense | 154 | 166 | 511 | 717 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 116 | 68 | 262 | (39) | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 11 | [5] | 25 | [5] | 45 | [6] | (16) | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 105 | 43 | 217 | (23) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | 105 | 43 | 217 | (23) | ||||
Corporate Other | ||||||||
Segment Reporting Information Average Total Loans | 70 | 46 | 59 | 50 | ||||
Segment Reporting Information Average Total Deposits | 84 | 83 | 85 | 85 | ||||
Average total assets | 29,878 | 27,326 | 29,469 | 26,313 | ||||
Average total liabilities | 13,397 | 21,356 | 15,894 | 19,869 | ||||
Average total equity | 0 | 0 | 0 | 0 | ||||
Net, interest income | 40 | 70 | 103 | 220 | ||||
FTE adjustment | 1 | 1 | 2 | 2 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | 41 | [1] | 71 | [1] | 105 | [2] | 222 | [2] |
Provision for Loan, Lease, and Other Losses | 0 | 0 | 0 | 0 | ||||
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | 41 | 71 | 105 | 222 | ||||
Total noninterest income | 29 | 14 | 84 | 222 | ||||
Noninterest Expense | 6 | 12 | 18 | 95 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 64 | 73 | 171 | 349 | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | 22 | [5] | (108) | [5] | 61 | [6] | (41) | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 42 | 181 | 110 | 390 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 2 | 0 | 7 | 11 | ||||
Net Income (Loss) Attributable to Parent | 40 | 181 | 103 | 379 | ||||
Reconciling Items | ||||||||
Segment Reporting Information Average Total Loans | (12) | (6) | (9) | (7) | ||||
Segment Reporting Information Average Total Deposits | (29) | (65) | (52) | (65) | ||||
Average total assets | 3,212 | 2,918 | 3,301 | 2,817 | ||||
Average total liabilities | (12) | (42) | (68) | (31) | ||||
Average total equity | 23,384 | 22,191 | 23,266 | 21,972 | ||||
Net, interest income | (87) | (88) | (301) | (190) | ||||
FTE adjustment | 0 | 1 | 2 | 1 | ||||
Segment Reporting Information Net Interest Income Including Fully Taxable Equivalent Adjustment | (87) | [1] | (87) | [1] | (299) | [2] | (189) | [2] |
Provision for Loan, Lease, and Other Losses | 1 | [3] | 0 | 1 | [4] | 0 | ||
Segment Reporting Information Net Interest Income After Provision For Credit Losses and Taxable Equivalent Adjustment | (88) | (87) | (300) | (189) | ||||
Total noninterest income | (4) | (4) | (12) | (13) | ||||
Noninterest Expense | (4) | (6) | (13) | (12) | ||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | (88) | (85) | (299) | (190) | ||||
Income Tax Expense (Benefit) Including Fully Taxable Equivalent Adjustment Reversal | (42) | [5] | (20) | [5] | (125) | [6] | (67) | [6] |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (46) | (65) | (174) | (123) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | ||||
Net Income (Loss) Attributable to Parent | $ (46) | $ (65) | $ (174) | $ (123) | ||||
[1] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[2] | Presented on a matched maturity funds transfer price basis for the segments. | |||||||
[3] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[4] | Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments of the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances. | |||||||
[5] | Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. | |||||||
[6] | Includes regular income tax provision/(benefit) and taxable-equivalent income adjustment reversal. |
Accumulated Other Comprehens112
Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | $ 302 | $ 169 | $ 302 | $ 169 | $ 183 | $ 298 | $ 206 | $ (77) |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 191 | 111 | 191 | 111 | 107 | 97 | 193 | 279 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | (581) | (457) | (581) | (457) | (584) | (517) | (458) | (491) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (88) | (177) | (88) | (177) | $ (294) | $ (122) | $ (59) | $ (289) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 123 | (43) | 17 | 239 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 128 | (19) | 212 | 23 | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | 0 | ||||
Other Comprehensive Income (Loss), Total Unrealized Gain (Loss) Arising During Period, Net of Tax | 251 | (62) | 229 | 262 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (4) | 6 | (13) | 7 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (44) | (63) | (118) | (191) | ||||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | 3 | 1 | (64) | 34 | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (45) | (56) | (195) | (150) | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 119 | (37) | 4 | 246 | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 84 | (82) | 94 | (168) | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 3 | 1 | (64) | 34 | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ 206 | $ (118) | $ 34 | $ 112 |
Accumulated Other Comprehens113
Accumulated Other Comprehensive Income Reclassifications out of AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | $ 302 | $ 169 | $ 302 | $ 169 | $ 183 | $ 298 | $ 206 | $ (77) |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, before Tax | (7) | 9 | (21) | 11 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | 3 | (3) | 8 | (4) | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | (4) | 6 | (13) | 7 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax | (70) | (99) | (187) | (302) | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax | 26 | 36 | 69 | 111 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | (44) | (63) | (118) | (191) | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | 4 | 2 | (108) | 54 | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax | (1) | (1) | 44 | (20) | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 3 | 1 | (64) | 34 | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (45) | (56) | (195) | (150) | ||||
Other Assets And Liabilities, Net [Member] | ||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | 0 | 0 | (120) | 46 | ||||
Amortization of Actuarial Loss [Member] | ||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | 5 | 4 | 16 | 12 | ||||
Amortization of Prior Service Credit [Member] | ||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | $ (1) | $ (2) | $ (4) | $ (4) |