Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 03, 2015 | |
Document Entity Information [Abstract] | ||
Entity Common Stock, Shares Outstanding | 1,324,907,149 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | RF | |
Entity Registrant Name | REGIONS FINANCIAL CORP | |
Entity Central Index Key | 1,281,761 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 1,661 | $ 1,601 |
Interest-bearing deposits in other banks | 2,094 | 2,303 |
Federal funds sold and securities purchased under agreements to resell | 0 | 100 |
Trading account securities | 110 | 106 |
Securities held to maturity (estimated fair value of $2,093 and $2,209, respectively) | 2,067 | 2,175 |
Securities available for sale | 22,672 | 22,580 |
Loans held for sale (includes $466 and $440 measured at fair value, respectively) | 511 | 541 |
Loans, net of unearned income | 80,149 | 77,307 |
Allowance for loan losses | (1,115) | (1,103) |
Net loans | 79,034 | 76,204 |
Other interest-earning assets | 70 | 89 |
Premises and equipment, net | 2,147 | 2,193 |
Interest receivable | 305 | 310 |
Goodwill | 4,816 | 4,816 |
Residential mortgage servicing rights at fair value | 268 | 257 |
Other identifiable intangible assets | 268 | 275 |
Other assets | 5,832 | 6,013 |
Total assets | 121,855 | 119,563 |
Deposits: | ||
Non-interest-bearing | 33,810 | 31,747 |
Interest-bearing | 63,265 | 62,453 |
Total deposits | 97,075 | 94,200 |
Borrowed funds: | ||
Federal funds purchased and securities sold under agreements to repurchase | 96 | 1,753 |
Other short-term borrowings | 1,750 | 500 |
Total short-term borrowings | 1,846 | 2,253 |
Long-term borrowings | 3,602 | 3,462 |
Total borrowed funds | 5,448 | 5,715 |
Other liabilities | 2,433 | 2,775 |
Total liabilities | 104,956 | 102,690 |
Stockholders’ equity: | ||
Preferred stock, authorized 10 million shares, par value $1.00 per share | 852 | 884 |
Common stock, authorized 3 billion shares, par value $.01 per share: | 14 | 14 |
Additional paid-in capital | 18,355 | 18,767 |
Retained earnings (deficit) | (658) | (1,177) |
Treasury stock, at cost—41,262,678 and 41,262,645 shares, respectively | (1,377) | (1,377) |
Accumulated other comprehensive income (loss), net | (287) | (238) |
Total stockholders’ equity | 16,899 | 16,873 |
Total liabilities and stockholders’ equity | $ 121,855 | $ 119,563 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities held to maturity, estimated fair value | $ 2,093 | $ 2,209 |
Loans held for sale, at fair value | $ 466 | $ 440 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 3,000,000,000 | 3,000,000,000 |
Common Stock, Shares, Issued | 1,371,885,146 | 1,395,204,638 |
Treasury Stock, Shares | 41,262,678 | 41,262,645 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value Per Share (in dollars per share) | $ 1 | $ 1 |
Noncumulative Preferred Stock [Member] | ||
Preferred Stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred Stock, shares issued | 1,000,000 | 1,000,000 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Interest income on: | |||||
Loans, including fees | $ 728 | $ 737 | $ 1,453 | $ 1,469 | |
Securities - taxable | 149 | 156 | 302 | 310 | |
Loans held for sale | 4 | 4 | 7 | 12 | |
Trading account securities | 1 | 0 | 4 | 2 | |
Other interest-earning assets | 1 | 3 | 3 | 5 | |
Total interest income | 883 | 900 | 1,769 | 1,798 | |
Interest expense on: | |||||
Deposits | 27 | 25 | 55 | 52 | |
Short-term borrowings | 1 | 1 | 1 | 1 | |
Long-term borrowings | 35 | 51 | 78 | 106 | |
Total interest expense | 63 | 77 | 134 | 159 | |
Net interest income | 820 | 823 | 1,635 | 1,639 | |
Provision for loan losses | 63 | 35 | 112 | 37 | |
Net interest income after provision for loan losses | 757 | 788 | 1,523 | 1,602 | |
Non-interest income: | |||||
Service charges on deposit accounts | 168 | 174 | 329 | 347 | |
Card and ATM fees | 90 | 84 | 175 | 163 | |
Mortgage income | 46 | 43 | 86 | 83 | |
Securities gains (losses), net | 6 | 6 | 11 | 8 | |
Other | 280 | 168 | 459 | 331 | |
Total non-interest income | 590 | 475 | 1,060 | 932 | |
Non-interest expense: | |||||
Salaries and employee benefits | 477 | 443 | 935 | 898 | |
Net occupancy expense | 89 | 90 | 180 | 183 | |
Furniture and equipment expense | 76 | 70 | 147 | 140 | |
Other | 292 | 217 | 577 | 416 | |
Total non-interest expense | 934 | 820 | 1,839 | 1,637 | |
Income from continuing operations before income taxes | 413 | 443 | 744 | 897 | |
Income tax expense | 124 | 148 | 219 | 299 | |
Income from continuing operations | 289 | 295 | 525 | 598 | |
Discontinued operations: | |||||
Income (loss) from discontinued operations before income taxes | (6) | 2 | (10) | 21 | |
Income tax expense (benefit) | (2) | 1 | (4) | 8 | |
Income (loss) from discontinued operations, net of tax | (4) | 1 | (6) | 13 | |
Net income | 285 | 296 | 519 | 611 | |
Net income from continuing operations available to common shareholders | 273 | 287 | 493 | 582 | |
Net income available to common shareholders | $ 269 | $ 288 | $ 487 | $ 595 | |
Weighted-average number of shares outstanding: | |||||
Basic (in shares) | 1,335 | 1,378 | 1,340 | 1,378 | |
Diluted (in shares) | 1,346 | 1,390 | 1,352 | 1,390 | |
Earnings per common share from continuing operations: | |||||
Basic (in dollars per share) | [1] | $ 0.20 | $ 0.21 | $ 0.37 | $ 0.42 |
Diluted (in dollars per share) | [1] | 0.20 | 0.21 | 0.36 | 0.42 |
Earnings per common share: | |||||
Basic (in dollars per share) | [1] | 0.20 | 0.21 | 0.36 | 0.43 |
Diluted (in dollars per share) | [1] | 0.20 | 0.21 | 0.36 | 0.43 |
Cash dividends declared per common share (in dollars per share) | $ 0.06 | $ 0.05 | $ 0.11 | $ 0.08 | |
[1] | Certain per share amounts may not appear to reconcile due to rounding. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 285 | $ 296 | $ 519 | $ 611 |
Unrealized losses on securities transferred to held to maturity: | ||||
Unrealized losses on securities transferred to held to maturity during the period (net of zero and zero tax effect, respectively) | 0 | 0 | 0 | 0 |
Less: Reclassification Adjustments for Amortization of Unrealized Losses on Securities Transferred to Held to Maturity, Net of Tax | (2) | (2) | (4) | (4) |
Net change in unrealized losses on securities transferred to held to maturity, net of tax | 2 | 2 | 4 | 4 |
Unrealized gains (losses) on securities available for sale: | ||||
Unrealized holding gains (losses) arising during the period on securities available for sale (net of tax) | (152) | 151 | (72) | 230 |
Less: reclassification adjustments for securities gains (losses) realized in net income (net of tax) | 4 | 4 | 7 | 5 |
Net change in unrealized gains (losses) on securities available for sale, net of tax | (156) | 147 | (79) | 225 |
Unrealized gains (losses) on derivative instruments designated as cash flow hedges: | ||||
Unrealized holding gains (losses) on derivatives arising during the period (net of tax) | (4) | 41 | 54 | 64 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 21 | 18 | 42 | 35 |
Net change in unrealized gains (losses) on derivative instruments, net of tax | (25) | 23 | 12 | 29 |
Defined benefit pension plans and other post employment benefits: | ||||
Net actuarial gains (losses) arising during the period (net of tax) | 0 | 1 | (1) | 1 |
Less: reclassification adjustments for amortization of actuarial loss and prior service cost realized in net income (net of tax) | (7) | (4) | (15) | (8) |
Net change from defined benefit pension plans and other post employment benefits, net of tax | 7 | 5 | 14 | 9 |
Other comprehensive income (loss), net of tax | (172) | 177 | (49) | 267 |
Comprehensive income | $ 113 | $ 473 | $ 470 | $ 878 |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized losses on securities transferred to held to maturity during the period, tax | $ 0 | $ 0 | $ 0 | $ 0 |
Amortization of unrealized losses on securities transferred to held to maturity, tax | (2) | (2) | (3) | (3) |
Unrealized holding gains on available for sale securities, tax | (94) | 91 | (45) | 140 |
Reclassification adjustments for securities gains realized in net income, tax | 2 | 2 | 4 | 3 |
Unrealized holding gains on derivatives, tax | (3) | 26 | 32 | 40 |
Reclassification adjustments for derivative gains realized in net income, tax | 13 | 11 | 25 | 22 |
Net actuarial gains and losses arising during the period, tax | 0 | 2 | 0 | 2 |
Amortization of actuarial loss and prior service cost realized in net income, and other, tax | $ (5) | $ (2) | $ (9) | $ (4) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock, At Cost [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Series B Preferred Stock [Member] |
Beginning Balance Outstanding (in shares) at Dec. 31, 2013 | 1 | 1,378 | ||||||
Beginning Balance at Dec. 31, 2013 | $ 15,660 | $ 450 | $ 14 | $ 19,216 | $ (2,324) | $ (1,377) | $ (319) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 611 | 611 | ||||||
Amortization of unrealized losses on securities transferred to held to maturity, net of tax | 4 | 4 | ||||||
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment | 225 | 225 | ||||||
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment | 29 | 29 | ||||||
Net change from employee benefit plans, net of tax | 9 | 9 | ||||||
Cash dividends declared | (111) | (111) | ||||||
Preferred stock dividends | (16) | $ (16) | ||||||
Net proceeds from issuance of preferred stock | 486 | $ 486 | ||||||
Impact of share repurchase, shares | (1) | |||||||
Impact of share repurchase, value | (8) | (8) | ||||||
Impact of stock transaction under compensation plans, net, shares | 1 | |||||||
Impact of stock transaction under compensation plans, net | 24 | 24 | ||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2014 | 1 | 1,378 | ||||||
Ending Balance at Jun. 30, 2014 | 16,913 | $ 920 | $ 14 | 19,121 | (1,713) | (1,377) | (52) | |
Beginning Balance Outstanding (in shares) at Dec. 31, 2014 | 1 | 1,354 | ||||||
Beginning Balance at Dec. 31, 2014 | 16,873 | $ 884 | $ 14 | 18,767 | (1,177) | (1,377) | (238) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 519 | 519 | ||||||
Amortization of unrealized losses on securities transferred to held to maturity, net of tax | 4 | 4 | ||||||
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment | (79) | (79) | ||||||
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment | 12 | 12 | ||||||
Net change from employee benefit plans, net of tax | 14 | 14 | ||||||
Cash dividends declared | (147) | (147) | ||||||
Preferred stock dividends | (32) | $ (32) | ||||||
Net proceeds from issuance of preferred stock | 0 | |||||||
Impact of share repurchase, shares | (28) | |||||||
Impact of share repurchase, value | (274) | (274) | ||||||
Impact of stock transaction under compensation plans, net, shares | 5 | |||||||
Impact of stock transaction under compensation plans, net | 9 | 9 | ||||||
Ending Balance Outstanding (in shares) at Jun. 30, 2015 | 1 | 1,331 | ||||||
Ending Balance at Jun. 30, 2015 | $ 16,899 | $ 852 | $ 14 | $ 18,355 | $ (658) | $ (1,377) | $ (287) |
CONSOLIDATED STATEMENTS OF CHA8
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | Apr. 23, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 |
Statement of Stockholders' Equity [Abstract] | |||||||
Cash dividend declared (in dollars per share) | $ 0.06 | $ 0.06 | $ 0.05 | $ 0.05 | $ 0.03 | $ 0.11 | $ 0.08 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating activities: | ||
Net income | $ 519 | $ 611 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 112 | 37 |
Depreciation, amortization and accretion, net | 252 | 248 |
Securities (gains) losses, net | (11) | (8) |
Deferred income tax expense | 40 | 167 |
Originations and purchases of loans held for sale | (1,224) | (1,204) |
Proceeds from sales of loans held for sale | 1,295 | 1,201 |
Gain on TDRs held for sale, net | 0 | (35) |
(Gain) loss on sale of loans, net | (48) | (20) |
(Gain) loss on early extinguishment of debt | 43 | 0 |
Net change in operating assets and liabilities: | ||
Trading account securities | (4) | 11 |
Other interest-earning assets | 19 | 21 |
Interest receivable and other assets | 91 | (351) |
Other liabilities | (347) | 60 |
Other | 30 | 5 |
Net cash from operating activities | 767 | 743 |
Investing activities: | ||
Proceeds from maturities of securities held to maturity | 109 | 79 |
Proceeds from sales of securities available for sale | 828 | 1,004 |
Proceeds from maturities of securities available for sale | 1,911 | 1,481 |
Purchases of securities available for sale | (2,860) | (2,452) |
Proceeds from sales of loans | 49 | 635 |
Purchases of loans | (547) | (518) |
Net change in loans | (2,565) | (1,686) |
Net purchases of premises and equipment and other assets | (74) | (95) |
Net cash from investing activities | (3,149) | (1,552) |
Financing activities: | ||
Net change in deposits | 2,875 | 1,369 |
Net change in short-term borrowings | (407) | (364) |
Proceeds from long-term borrowings | 1,248 | 0 |
Payments on long-term borrowings | (1,142) | (1,004) |
Cash dividends on common stock | (147) | (111) |
Cash dividends on preferred stock | (32) | (16) |
Repurchase of common stock | (274) | (8) |
Net proceeds from issuance of preferred stock | 0 | 486 |
Other | 12 | 3 |
Net cash from financing activities | 2,133 | 355 |
Net change in cash and cash equivalents | (249) | (454) |
Cash and cash equivalents at beginning of year | 4,004 | 5,273 |
Cash and cash equivalents at end of period | $ 3,755 | $ 4,819 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION Regions Financial Corporation (“Regions” or the "Company”) provides a full range of banking and bank-related services to individual and corporate customers through its subsidiaries and branch offices located primarily in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. The Company is subject to competition from other financial institutions, is subject to the regulations of certain government agencies and undergoes periodic examinations by certain of those regulatory authorities. The accounting and reporting policies of Regions and the methods of applying those policies that materially affect the consolidated financial statements conform with accounting principles generally accepted in the United States (“GAAP”) and with general financial services industry practices. The accompanying interim financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in Regions’ Form 10-K for the year ended December 31, 2014 . Regions has evaluated all subsequent events for potential recognition and disclosure through the filing date of this Form 10-Q. On January 11, 2012, Regions entered into an agreement to sell Morgan Keegan & Company, Inc. (“Morgan Keegan”) and related affiliates. The transaction closed on April 2, 2012. See Note 2 and Note 15 for further details. Results of operations for the entities sold are presented separately as discontinued operations for all periods presented on the consolidated statements of income. This presentation is consistent with the consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2014 . Effective January 1, 2015, the Company adopted new guidance related to the accounting for investments in qualified affordable housing projects. For investments that met the criteria specified in the guidance, Regions elected to use the proportional amortization method. Under this method, the initial investment was amortized in proportion to the actual tax credits and other tax benefits to be received in the current period as compared to the total tax credits and other tax benefits expected to be received over the life of the investment. The amortization and tax benefits were included as a component of income tax expense. The guidance required retrospective application. All prior period amounts impacted by this guidance were revised. The cumulative effect of the retrospective application was a $116 million decrease to retained earnings (deficit), a $22 million increase to other interest-earning assets and a $138 million decrease to other assets. The Company's total investments in qualified affordable housing projects were $897 million and $818 million at June 30, 2015 and December 31, 2014 , respectively. These investments are reflected in other assets on Regions' consolidated balance sheets. The Company recognized $51 million and $45 million of amortization expense and $58 million and $50 million of tax credits related to these investments during the six months ended June 30, 2015 and 2014 , respectively. The Company also recognized $11 million of other tax benefits related to these investments for both six months ended June 30, 2015 and 2014 . Certain other prior period amounts have been reclassified to conform to the current period presentation. These reclassifications are immaterial and have no effect on net income, comprehensive income, total assets or total stockholders’ equity as previously reported. |
Discontinued Operations
Discontinued Operations | 6 Months Ended |
Jun. 30, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | DISCONTINUED OPERATIONS On January 11, 2012, Regions entered into a stock purchase agreement to sell Morgan Keegan and related affiliates to Raymond James Financial, Inc. (“Raymond James”). The transaction closed on April 2, 2012. Regions Investment Management, Inc. (formerly known as Morgan Asset Management, Inc.) and Regions Trust were not included in the sale. In connection with the closing of the sale, Regions agreed to indemnify Raymond James for all litigation matters related to pre-closing activities. See Note 15 for related disclosure. The following table represents the condensed results of operations for discontinued operations: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions, except per share data) Non-interest expense: Professional and legal expenses $ 5 $ (3 ) $ 9 $ (22 ) Other 1 1 1 1 Total non-interest expense 6 (2 ) 10 (21 ) Income (loss) from discontinued operations before income taxes (6 ) 2 (10 ) 21 Income tax expense (benefit) (2 ) 1 (4 ) 8 Income (loss) from discontinued operations, net of tax $ (4 ) $ 1 $ (6 ) $ 13 Earnings (loss) per common share from discontinued operations: Basic $ (0.00 ) $ 0.00 $ (0.00 ) $ 0.01 Diluted $ (0.00 ) $ 0.00 $ (0.00 ) $ 0.01 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | SECURITIES The amortized cost, gross unrealized gains and losses, and estimated fair value of securities held to maturity and securities available for sale are as follows: June 30, 2015 Recognized in OCI (1) Not recognized in OCI Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In millions) Securities held to maturity: U.S. Treasury securities $ 1 $ — $ — $ 1 $ — $ — $ 1 Federal agency securities 350 — (11 ) 339 8 — 347 Mortgage-backed securities: Residential agency 1,597 — (67 ) 1,530 22 (2 ) 1,550 Commercial agency 202 — (5 ) 197 — (2 ) 195 $ 2,150 $ — $ (83 ) $ 2,067 $ 30 $ (4 ) $ 2,093 Securities available for sale: U.S. Treasury securities $ 180 $ 1 $ — $ 181 $ 181 Federal agency securities 225 3 — 228 228 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 15,793 225 (76 ) 15,942 15,942 Residential non-agency 6 — — 6 6 Commercial agency 2,167 17 (8 ) 2,176 2,176 Commercial non-agency 1,479 11 (9 ) 1,481 1,481 Corporate and other debt securities 1,823 20 (39 ) 1,804 1,804 Equity securities 841 11 — 852 852 $ 22,516 $ 288 $ (132 ) $ 22,672 $ 22,672 December 31, 2014 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Securities held to maturity: U.S. Treasury securities $ 1 $ — $ — $ 1 $ — $ — $ 1 Federal agency securities 350 — (12 ) 338 6 — 344 Mortgage-backed securities: Residential agency 1,698 — (71 ) 1,627 35 (1 ) 1,661 Commercial agency 216 — (7 ) 209 — (6 ) 203 $ 2,265 $ — $ (90 ) $ 2,175 $ 41 $ (7 ) $ 2,209 Securities available for sale: U.S. Treasury securities $ 176 $ — $ — $ 176 $ 176 Federal agency securities 233 2 — 235 235 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 15,788 283 (33 ) 16,038 16,038 Residential non-agency 7 1 — 8 8 Commercial agency 1,959 14 (9 ) 1,964 1,964 Commercial non-agency 1,489 14 (9 ) 1,494 1,494 Corporate and other debt securities 1,980 36 (26 ) 1,990 1,990 Equity securities 662 12 (1 ) 673 673 $ 22,296 $ 362 $ (78 ) $ 22,580 $ 22,580 _________ (1) The gross unrealized losses recognized in other comprehensive income (OCI) on held to maturity securities resulted from a transfer of available for sale securities to held to maturity in the second quarter of 2013. Equity securities in the tables above included the following amortized cost related to Federal Reserve Bank stock and Federal Home Loan Bank (“FHLB”) stock. Shares in the Federal Reserve Bank and FHLB are accounted for at amortized cost, which approximates fair value. June 30, 2015 December 31, 2014 (In millions) Federal Reserve Bank $ 484 $ 488 Federal Home Loan Bank 144 39 Securities with carrying values of $12.7 billion and $12.1 billion at June 30, 2015 and December 31, 2014 , respectively, were pledged to secure public funds, trust deposits and certain borrowing arrangements. Of the $12.7 billion and the $12.1 billion securities pledged, approximately $12 million and zero represents encumbered U.S. Treasury securities at June 30, 2015 and December 31, 2014 , respectively. The amortized cost and estimated fair value of securities available for sale and securities held to maturity at June 30, 2015 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair Value (In millions) Securities held to maturity: Due in one year or less $ — $ — Due after one year through five years 351 348 Due after five years through ten years — — Mortgage-backed securities: Residential agency 1,597 1,550 Commercial agency 202 195 $ 2,150 $ 2,093 Securities available for sale: Due in one year or less $ 101 $ 102 Due after one year through five years 830 839 Due after five years through ten years 1,007 992 Due after ten years 292 282 Mortgage-backed securities: Residential agency 15,793 15,942 Residential non-agency 6 6 Commercial agency 2,167 2,176 Commercial non-agency 1,479 1,481 Equity securities 841 852 $ 22,516 $ 22,672 The following tables present gross unrealized losses and the related estimated fair value of securities available for sale and held to maturity at June 30, 2015 and December 31, 2014 . For securities transferred to held to maturity from available for sale, the analysis in the tables below is comparing the securities' original amortized cost to its current estimated fair value. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. June 30, 2015 Less Than Twelve Months Twelve Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses (In millions) Securities held to maturity: Federal agency securities $ 149 $ (1 ) $ 198 $ (2 ) $ 347 $ (3 ) Mortgage-backed securities: Residential agency 346 (8 ) 1,203 (39 ) 1,549 (47 ) Commercial agency — — 195 (7 ) 195 (7 ) $ 495 $ (9 ) $ 1,596 $ (48 ) $ 2,091 $ (57 ) Securities available for sale: U.S. Treasury securities $ 7 $ — $ 8 $ — $ 15 $ — Federal agency securities — — 4 — 4 — Mortgage-backed securities: Residential agency 4,955 (57 ) 940 (19 ) 5,895 (76 ) Commercial agency 528 (6 ) 228 (2 ) 756 (8 ) Commercial non-agency 562 (6 ) 237 (3 ) 799 (9 ) All other securities 743 (21 ) 273 (18 ) 1,016 (39 ) $ 6,795 $ (90 ) $ 1,690 $ (42 ) $ 8,485 $ (132 ) December 31, 2014 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Securities held to maturity: Federal agency securities $ — $ — $ 344 $ (6 ) $ 344 $ (6 ) Mortgage-backed securities: Residential agency — — 1,659 (37 ) 1,659 (37 ) Commercial agency — — 203 (13 ) 203 (13 ) $ — $ — $ 2,206 $ (56 ) $ 2,206 $ (56 ) Securities available for sale: U.S. Treasury securities $ 74 $ — $ 3 $ — $ 77 $ — Federal agency securities — — 3 — 3 — Mortgage-backed securities: Residential agency 1,178 (5 ) 2,587 (28 ) 3,765 (33 ) Commercial agency 464 (4 ) 316 (5 ) 780 (9 ) Commercial non-agency 242 (1 ) 500 (8 ) 742 (9 ) All other securities 400 (7 ) 455 (20 ) 855 (27 ) $ 2,358 $ (17 ) $ 3,864 $ (61 ) $ 6,222 $ (78 ) The number of individual securities in an unrealized loss position in the tables above increase d from 827 at December 31, 2014 to 895 at June 30, 2015 . The increase in the number of securities and the total amount of unrealized losses from year-end 2014 was primarily due to changes in interest rates, and credit spreads in certain instances. In instances where an unrealized loss did occur, there was no indication of an adverse change in credit on any of the underlying securities in the tables above. Management believes no individual unrealized loss represented an other-than-temporary impairment as of those dates. The Company does not intend to sell, and it is not more likely than not that the Company will be required to sell, the securities before the recovery of their amortized cost basis, which may be at maturity. Gross realized gains and gross realized losses on sales of securities available for sale are shown in the table below. The cost of securities sold is based on the specific identification method. Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Gross realized gains $ 9 $ 13 $ 14 $ 16 Gross realized losses (3 ) (5 ) (3 ) (6 ) Other-than-temporary-impairment ("OTTI") — (2 ) — (2 ) Securities gains, net $ 6 $ 6 $ 11 $ 8 |
Loans and the Allowance for Cre
Loans and the Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | LOANS AND THE ALLOWANCE FOR CREDIT LOSSES LOANS The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income: June 30, 2015 December 31, 2014 (In millions, net of unearned income) Commercial and industrial $ 35,347 $ 32,732 Commercial real estate mortgage—owner-occupied 7,797 8,263 Commercial real estate construction—owner-occupied 448 407 Total commercial 43,592 41,402 Commercial investor real estate mortgage 4,509 4,680 Commercial investor real estate construction 2,419 2,133 Total investor real estate 6,928 6,813 Residential first mortgage 12,589 12,315 Home equity 10,899 10,932 Indirect—vehicles 3,782 3,642 Indirect—other consumer 383 206 Consumer credit card 992 1,009 Other consumer 984 988 Total consumer 29,629 29,092 $ 80,149 $ 77,307 During the three months ended June 30, 2015 and 2014 , Regions purchased approximately $291 million and $272 million , respectively, in indirect-vehicles and indirect-other consumer loans from third parties. During the six months ended June 30, 2015 and 2014, the comparable loan purchase amounts were approximately $547 million and $518 million , respectively. At June 30, 2015 , $13.3 billion in loans held by Regions were pledged to secure borrowings from the FHLB. At June 30, 2015 , an additional $31.1 billion of loans held by Regions were pledged to the Federal Reserve Bank. ALLOWANCE FOR CREDIT LOSSES Regions determines the appropriate level of the allowance on at least a quarterly basis. Refer to Note 1 “Summary of Significant Accounting Policies” to the consolidated financial statements to the Annual Report on Form 10-K for the year ended December 31, 2014 , for a description of the methodology. ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES The following tables present analyses of the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2015 and 2014 . The total allowance for loan losses and the related loan portfolio ending balances as of June 30, 2015 and 2014 are disaggregated to detail the amounts derived through individual evaluation and collective evaluation for impairment. The allowance for loan losses related to individually evaluated loans is attributable to reserves for non-accrual commercial and investor real estate loans and all troubled debt restructurings ("TDRs"). The allowance for loan losses and the loan portfolio ending balances related to collectively evaluated loans is attributable to the remainder of the portfolio. Three Months Ended June 30, 2015 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, April 1, 2015 $ 696 $ 125 $ 277 $ 1,098 Provision (credit) for loan losses 51 (3 ) 15 63 Loan losses: Charge-offs (25 ) (4 ) (57 ) (86 ) Recoveries 18 5 17 40 Net loan losses (7 ) 1 (40 ) (46 ) Allowance for loan losses, June 30, 2015 740 123 252 1,115 Reserve for unfunded credit commitments, April 1, 2015 58 8 — 66 Provision (credit) for unfunded credit losses 1 (3 ) — (2 ) Reserve for unfunded credit commitments, June 30, 2015 59 5 — 64 Allowance for credit losses, June 30, 2015 $ 799 $ 128 $ 252 $ 1,179 Three Months Ended June 30, 2014 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, April 1, 2014 $ 692 $ 208 $ 361 $ 1,261 Provision (credit) for loan losses 39 (18 ) 14 35 Loan losses: Charge-offs (40 ) (7 ) (63 ) (110 ) Recoveries 14 7 22 43 Net loan losses (26 ) — (41 ) (67 ) Allowance for loan losses, June 30, 2014 705 190 334 1,229 Reserve for unfunded credit commitments, April 1, 2014 63 11 4 78 Provision (credit) for unfunded credit losses 11 1 (1 ) 11 Reserve for unfunded credit commitments, June 30, 2014 74 12 3 89 Allowance for credit losses, June 30, 2014 $ 779 $ 202 $ 337 $ 1,318 Six Months Ended June 30, 2015 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, January 1, 2015 $ 654 $ 150 $ 299 $ 1,103 Provision (credit) for loan losses 110 (28 ) 30 112 Loan losses: Charge-offs (59 ) (12 ) (116 ) (187 ) Recoveries 35 13 39 87 Net loan losses (24 ) 1 (77 ) (100 ) Allowance for loan losses, June 30, 2015 740 123 252 1,115 Reserve for unfunded credit commitments, January 1, 2015 57 8 — 65 Provision (credit) for unfunded credit losses 2 (3 ) — (1 ) Reserve for unfunded credit commitments, June 30, 2015 59 5 — 64 Allowance for credit losses, June 30, 2015 $ 799 $ 128 $ 252 $ 1,179 Portion of ending allowance for loan losses: Individually evaluated for impairment $ 189 $ 42 $ 69 $ 300 Collectively evaluated for impairment 551 81 183 815 Total allowance for loan losses $ 740 $ 123 $ 252 $ 1,115 Portion of loan portfolio ending balance: Individually evaluated for impairment $ 722 $ 264 $ 845 $ 1,831 Collectively evaluated for impairment 42,870 6,664 28,784 78,318 Total loans evaluated for impairment $ 43,592 $ 6,928 $ 29,629 $ 80,149 Six Months Ended June 30, 2014 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, January 1, 2014 $ 711 $ 236 $ 394 $ 1,341 Provision (credit) for loan losses 44 (45 ) 38 37 Loan losses: Charge-offs (81 ) (16 ) (137 ) (234 ) Recoveries 31 15 39 85 Net loan losses (50 ) (1 ) (98 ) (149 ) Allowance for loan losses, June 30, 2014 705 190 334 1,229 Reserve for unfunded credit commitments, January 1, 2014 63 12 3 78 Provision (credit) for unfunded credit losses 11 — — 11 Reserve for unfunded credit commitments, June 30, 2014 74 12 3 89 Allowance for credit losses, June 30, 2014 $ 779 $ 202 $ 337 $ 1,318 Portion of ending allowance for loan losses: Individually evaluated for impairment $ 212 $ 92 $ 82 $ 386 Collectively evaluated for impairment 493 98 252 843 Total allowance for loan losses $ 705 $ 190 $ 334 $ 1,229 Portion of loan portfolio ending balance: Individually evaluated for impairment $ 846 $ 523 $ 858 $ 2,227 Collectively evaluated for impairment 39,898 6,450 27,938 74,286 Total loans evaluated for impairment $ 40,744 $ 6,973 $ 28,796 $ 76,513 PORTFOLIO SEGMENT RISK FACTORS The following describe the risk characteristics relevant to each of the portfolio segments. Commercial —The commercial loan portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Commercial also includes owner-occupied commercial real estate mortgage loans to operating businesses, which are loans for long-term financing of land and buildings, and are repaid by cash flow generated by business operations. Owner-occupied construction loans are made to commercial businesses for the development of land or construction of a building where the repayment is derived from revenues generated from the business of the borrower. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations. Investor Real Estate —Loans for real estate development are repaid through cash flow related to the operation, sale or refinance of the property. This portfolio segment includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of real estate or income generated from the real estate collateral. A portion of Regions’ investor real estate portfolio segment consists of loans secured by residential product types (land, single-family and condominium loans) within Regions’ markets. Additionally, these loans are made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail shopping centers. Loans in this portfolio segment are particularly sensitive to valuation of real estate. Consumer —The consumer loan portfolio segment includes residential first mortgage, home equity, indirect-vehicles, indirect-other consumer, consumer credit card, and other consumer loans. Residential first mortgage loans represent loans to consumers to finance a residence. These loans are typically financed over a 15 to 30 year term and, in most cases, are extended to borrowers to finance their primary residence. Home equity lending includes both home equity loans and lines of credit. This type of lending, which is secured by a first or second mortgage on the borrower’s residence, allows customers to borrow against the equity in their home. Real estate market values as of the time the loan or line is secured directly affect the amount of credit extended and, in addition, changes in these values impact the depth of potential losses. Indirect-vehicles lending, which is lending initiated through third-party business partners, largely consists of loans made through automotive dealerships. Indirect-other consumer lending represents other point of sale lending through third parties. Consumer credit card includes Regions branded consumer credit card accounts. Other consumer loans include other revolving consumer accounts, direct consumer loans, and overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures. CREDIT QUALITY INDICATORS The following tables present credit quality indicators for the loan portfolio segments and classes, excluding loans held for sale, as of June 30, 2015 and December 31, 2014 . Commercial and investor real estate loan portfolio segments are detailed by categories related to underlying credit quality and probability of default. Regions assigns these categories at loan origination and reviews the relationship utilizing a risk-based approach on, at minimum, an annual basis or at any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. Both quantitative and qualitative factors are considered in this review process. These categories are utilized to develop the associated allowance for credit losses. • Pass—includes obligations where the probability of default is considered low; • Special Mention—includes obligations that have potential weakness which may, if not reversed or corrected, weaken the credit or inadequately protect the Company’s position at some future date. Obligations in this category may also be subject to economic or market conditions which may, in the future, have an adverse effect on debt service ability; • Substandard Accrual—includes obligations that exhibit a well-defined weakness that presently jeopardizes debt repayment, even though they are currently performing. These obligations are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected; • Non-accrual—includes obligations where management has determined that full payment of principal and interest is in doubt. Substandard accrual and non-accrual loans are often collectively referred to as “classified.” Special mention, substandard accrual, and non-accrual loans are often collectively referred to as “criticized and classified.” Classes in the consumer portfolio segment are disaggregated by accrual status. June 30, 2015 Pass Special Mention Substandard Accrual Non-accrual Total (In millions) Commercial and industrial $ 33,741 $ 608 $ 701 $ 297 $ 35,347 Commercial real estate mortgage—owner-occupied 6,942 331 321 203 7,797 Commercial real estate construction—owner-occupied 413 20 11 4 448 Total commercial $ 41,096 $ 959 $ 1,033 $ 504 $ 43,592 Commercial investor real estate mortgage $ 4,119 $ 173 $ 154 $ 63 $ 4,509 Commercial investor real estate construction 2,355 31 31 2 2,419 Total investor real estate $ 6,474 $ 204 $ 185 $ 65 $ 6,928 Accrual Non-accrual Total (In millions) Residential first mortgage $ 12,503 $ 86 $ 12,589 Home equity 10,803 96 10,899 Indirect—vehicles 3,782 — 3,782 Indirect—other consumer 383 — 383 Consumer credit card 992 — 992 Other consumer 984 — 984 Total consumer $ 29,447 $ 182 $ 29,629 $ 80,149 December 31, 2014 Pass Special Mention Substandard Accrual Non-accrual Total (In millions) Commercial and industrial $ 31,492 $ 626 $ 362 $ 252 $ 32,732 Commercial real estate mortgage—owner-occupied 7,425 315 285 238 8,263 Commercial real estate construction—owner-occupied 387 9 8 3 407 Total commercial $ 39,304 $ 950 $ 655 $ 493 $ 41,402 Commercial investor real estate mortgage $ 4,152 $ 234 $ 171 $ 123 $ 4,680 Commercial investor real estate construction 2,060 22 49 2 2,133 Total investor real estate $ 6,212 $ 256 $ 220 $ 125 $ 6,813 Accrual Non-accrual Total (In millions) Residential first mortgage $ 12,206 $ 109 $ 12,315 Home equity 10,830 102 10,932 Indirect—vehicles 3,642 — 3,642 Indirect—other consumer 206 — 206 Consumer credit card 1,009 — 1,009 Other consumer 988 — 988 Total consumer $ 28,881 $ 211 $ 29,092 $ 77,307 AGING ANALYSIS The following tables include an aging analysis of days past due (DPD) for each portfolio segment and class as of June 30, 2015 and December 31, 2014 : June 30, 2015 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total 30+ DPD Total Accrual Non-accrual Total (In millions) Commercial and industrial $ 9 $ 14 $ 3 $ 26 $ 35,050 $ 297 $ 35,347 Commercial real estate mortgage—owner-occupied 32 6 2 40 7,594 203 7,797 Commercial real estate construction—owner-occupied — — — — 444 4 448 Total commercial 41 20 5 66 43,088 504 43,592 Commercial investor real estate mortgage 14 4 1 19 4,446 63 4,509 Commercial investor real estate construction — — — — 2,417 2 2,419 Total investor real estate 14 4 1 19 6,863 65 6,928 Residential first mortgage 91 56 212 359 12,503 86 12,589 Home equity 54 30 61 145 10,803 96 10,899 Indirect—vehicles 36 10 6 52 3,782 — 3,782 Indirect—other consumer 1 — — 1 383 — 383 Consumer credit card 6 4 11 21 992 — 992 Other consumer 11 3 4 18 984 — 984 Total consumer 199 103 294 596 29,447 182 29,629 $ 254 $ 127 $ 300 $ 681 $ 79,398 $ 751 $ 80,149 December 31, 2014 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total 30+ DPD Total Accrual Non-accrual Total (In millions) Commercial and industrial $ 16 $ 7 $ 7 $ 30 $ 32,480 $ 252 $ 32,732 Commercial real estate mortgage—owner-occupied 21 13 5 39 8,025 238 8,263 Commercial real estate construction—owner-occupied 1 — — 1 404 3 407 Total commercial 38 20 12 70 40,909 493 41,402 Commercial investor real estate mortgage 17 3 3 23 4,557 123 4,680 Commercial investor real estate construction — — — — 2,131 2 2,133 Total investor real estate 17 3 3 23 6,688 125 6,813 Residential first mortgage 99 64 247 410 12,206 109 12,315 Home equity 73 38 63 174 10,830 102 10,932 Indirect—vehicles 43 10 7 60 3,642 — 3,642 Indirect—other consumer — — — — 206 — 206 Consumer credit card 8 5 12 25 1,009 — 1,009 Other consumer 13 4 3 20 988 — 988 Total consumer 236 121 332 689 28,881 211 29,092 $ 291 $ 144 $ 347 $ 782 $ 76,478 $ 829 $ 77,307 IMPAIRED LOANS The following tables present details related to the Company’s impaired loans as of June 30, 2015 and December 31, 2014 . Loans deemed to be impaired include all TDRs and all non-accrual commercial and investor real estate loans, excluding leases. Loans which have been fully charged-off do not appear in the tables below. Non-accrual Impaired Loans As of June 30, 2015 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans on Non-accrual Status Impaired Loans on Non-accrual Status with No Related Allowance Impaired Loans on Non-accrual Status with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 335 $ 39 $ 296 $ 64 $ 232 $ 94 39.7 % Commercial real estate mortgage—owner-occupied 221 18 203 37 166 60 35.3 Commercial real estate construction—owner-occupied 4 — 4 — 4 2 50.0 Total commercial 560 57 503 101 402 156 38.0 Commercial investor real estate mortgage 97 34 63 20 43 15 50.5 Commercial investor real estate construction 11 9 2 — 2 1 90.9 Total investor real estate 108 43 65 20 45 16 54.6 Residential first mortgage 65 21 44 — 44 6 41.5 Home equity 21 6 15 — 15 — 28.6 Total consumer 86 27 59 — 59 6 38.4 $ 754 $ 127 $ 627 $ 121 $ 506 $ 178 40.5 % Accruing Impaired Loans As of June 30, 2015 Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Book Value (3) Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 86 $ 2 $ 84 $ 15 19.8 % Commercial real estate mortgage—owner-occupied 144 10 134 18 19.4 Commercial real estate construction—owner-occupied 1 — 1 — — Total commercial 231 12 219 33 19.5 Commercial investor real estate mortgage 176 7 169 21 15.9 Commercial investor real estate construction 30 — 30 5 16.7 Total investor real estate 206 7 199 26 16.0 Residential first mortgage 439 12 427 55 15.3 Home equity 349 7 342 8 4.3 Indirect—vehicles 1 — 1 — — Consumer credit card 2 — 2 — — Other consumer 14 — 14 — — Total consumer 805 19 786 63 10.2 $ 1,242 $ 38 $ 1,204 $ 122 12.9 % Total Impaired Loans As of June 30, 2015 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans Impaired Loans with No Related Allowance Impaired Loans with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 421 $ 41 $ 380 $ 64 $ 316 $ 109 35.6 % Commercial real estate mortgage—owner-occupied 365 28 337 37 300 78 29.0 Commercial real estate construction—owner-occupied 5 — 5 — 5 2 40.0 Total commercial 791 69 722 101 621 189 32.6 Commercial investor real estate mortgage 273 41 232 20 212 36 28.2 Commercial investor real estate construction 41 9 32 — 32 6 36.6 Total investor real estate 314 50 264 20 244 42 29.3 Residential first mortgage 504 33 471 — 471 61 18.7 Home equity 370 13 357 — 357 8 5.7 Indirect—vehicles 1 — 1 — 1 — — Consumer credit card 2 — 2 — 2 — — Other consumer 14 — 14 — 14 — — Total consumer 891 46 845 — 845 69 12.9 $ 1,996 $ 165 $ 1,831 $ 121 $ 1,710 $ 300 23.3 % _________ (1) Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. (2) Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. (3) Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. (4) Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. Non-accrual Impaired Loans As of December 31, 2014 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans on Non-accrual Status Impaired Loans on Non-accrual Status with No Related Allowance Impaired Loans on Non-accrual Status with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 286 $ 36 $ 250 $ 11 $ 239 $ 83 41.6 % Commercial real estate mortgage—owner-occupied 267 29 238 43 195 69 36.7 Commercial real estate construction—owner-occupied 3 — 3 — 3 1 33.3 Total commercial 556 65 491 54 437 153 39.2 Commercial investor real estate mortgage 162 39 123 26 97 30 42.6 Commercial investor real estate construction 3 1 2 — 2 1 66.7 Total investor real estate 165 40 125 26 99 31 43.0 Residential first mortgage 79 26 53 — 53 7 41.8 Home equity 22 7 15 — 15 1 36.4 Total consumer 101 33 68 — 68 8 40.6 $ 822 $ 138 $ 684 $ 80 $ 604 $ 192 40.1 % Accruing Impaired Loans As of December 31, 2014 Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Book Value (3) Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 102 $ 3 $ 99 $ 17 19.6 % Commercial real estate mortgage—owner-occupied 162 10 152 16 16.0 Total commercial 264 13 251 33 17.4 Commercial investor real estate mortgage 267 8 259 28 13.5 Commercial investor real estate construction 33 — 33 6 18.2 Total investor real estate 300 8 292 34 14.0 Residential first mortgage 426 11 415 57 16.0 Home equity 359 6 353 13 5.3 Indirect—vehicles 1 — 1 — — Consumer credit card 2 — 2 — — Other consumer 17 — 17 — — Total consumer 805 17 788 70 10.8 $ 1,369 $ 38 $ 1,331 $ 137 12.8 % Total Impaired Loans As of December 31, 2014 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans Impaired Loans with No Related Allowance Impaired Loans with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 388 $ 39 $ 349 $ 11 $ 338 $ 100 35.8 % Commercial real estate mortgage—owner-occupied 429 39 390 43 347 85 28.9 Commercial real estate construction—owner-occupied 3 — 3 — 3 1 33.3 Total commercial 820 78 742 54 688 186 32.2 Commercial investor real estate mortgage 429 47 382 26 356 58 24.5 Commercial investor real estate construction 36 1 35 — 35 7 22.2 Total investor real estate 465 48 417 26 391 65 24.3 Residential first mortgage 505 37 468 — 468 64 20.0 Home equity 381 13 368 — 368 14 7.1 Indirect—vehicles 1 — 1 — 1 — — Consumer credit card 2 — 2 — 2 — — Other consumer 17 — 17 — 17 — — Total consumer 906 50 856 — 856 78 14.1 $ 2,191 $ 176 $ 2,015 $ 80 $ 1,935 $ 329 23.0 % ________ (1) Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. (2) Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. (3) Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. (4) Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. The following table presents the average balances of total impaired loans and interest income for the three and six months ended June 30, 2015 and 2014 . Interest income recognized represents interest on accruing loans modified in a TDR. TDRs are considered impaired loans. Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized (In millions) Commercial and industrial $ 398 $ 2 $ 382 $ 2 $ 378 $ 3 $ 424 $ 5 Commercial real estate mortgage—owner-occupied 348 2 499 3 364 5 505 7 Commercial real estate construction—owner-occupied 4 — 38 — 4 — 40 — Total commercial 750 4 919 5 746 8 969 12 Commercial investor real estate mortgage 257 3 529 6 294 6 575 14 Commercial investor real estate construction 32 — 74 1 32 1 80 2 Total investor real estate 289 3 603 7 326 7 655 16 Residential first mortgage 474 4 454 3 475 8 456 7 Home equity 358 4 383 5 360 9 385 10 Indirect—vehicles 1 — 1 — 1 — 1 — Consumer credit card 2 — 2 — 2 — 2 — Other consumer 15 — 22 1 15 — 23 1 Total consumer 850 8 862 9 853 17 867 18 Total impaired loans $ 1,889 $ 15 $ 2,384 $ 21 $ 1,925 $ 32 $ 2,491 $ 46 TROUBLED DEBT RESTRUCTURINGS Regions regularly modifies commercial and investor real estate loans in order to facilitate a workout strategy. Typical modifications include accommodations, such as renewals and forbearances. The majority of Regions’ commercial and investor real estate TDRs are the result of renewals of classified loans at an interest rate that is not considered to be a market interest rate. For smaller dollar commercial loans, Regions may periodically grant interest rate and other term concessions, similar to those under the consumer program described below. Regions works to meet the individual needs of consumer borrowers to stem foreclosure through the Customer Assistance Program ("CAP"). Regions designed the program to allow for customer-tailored modifications with the goal of keeping customers in their homes and avoiding foreclosure where possible. Modification may be offered to any borrower experiencing financial hardship regardless of the borrower’s payment status. Consumer TDRs primarily involve an interest rate concession, however under the CAP, Regions may also offer a short-term deferral, a term extension, a new loan product, or a combination of these options. For loans restructured under the CAP, Regions expects to collect the original contractually due principal. The gross original contractual interest may be collectible, depending on the terms modified. The length of the CAP modifications ranges from temporary payment deferrals of three months to term extensions for the life of the loan. All such modifications are considered TDRs regardless of the term because they are concessionary in nature and because the customer documents a hardship in order to participate. As noted above, the majority of Regions’ TDRs are the result of interest rate concession and not a forgiveness of principal. Accordingly, the financial impact of the modifications is best illustrated by the impact to the allowance calculation at the loan or pool level, as a result of the loans being considered impaired due to their TDR status. Regions most often does not record a charge-off at the modification date. None of the modified consumer loans listed in the following TDR disclosures were collateral-dependent at the time of modification. At June 30, 2015 , approximately $49 million in residential first mortgage TDRs were in excess of 180 days past due and were considered collateral-dependent. At June 30, 2015 , approximately $8 million in home equity first lien TDRs were in excess of 180 days past due and approximately $4 million in home equity second lien TDRs were in excess of 120 days past due, both of which were considered collateral-dependent. Further discussion related to TDRs, including their impact on the allowance for loan losses and designation of TDRs in periods subsequent to the modification is included in Note 1 in the consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2014. The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. The end of period balance, for the period in which it was added, of total loans first reported as new TDRs totaled approximately $154 million and $209 million for the six months ended June 30, 2015 and 2014 , respectively. Three Months Ended June 30, 2015 Financial Impact of Modifications Considered TDRs Number of Obligors Recorded Investment Increase in Allowance at Modification (Dollars in millions) Commercial and industrial 62 $ 45 $ 1 Commercial real estate mortgage—owner-occupied 61 37 1 Total commercial 123 82 2 Commercial investor real estate mortgage 31 15 — Commercial investor real estate construction 12 6 — Total investor real estate 43 21 — Residential first mortgage 96 20 3 Home equity 187 9 — Consumer credit card 41 1 — Indirect—vehicles and other consumer 109 1 — Total consumer 433 31 3 599 $ 134 $ 5 Three Months Ended June 30, 2014 Financial Impact of Modifications Considered TDRs Number of Obligors Recorded Investment Increase in Allowance at Modification (Dollars in millions) Commercial and industrial 58 $ 70 $ 2 Commercial real estate mortgage—owner-occupied 72 77 2 Commercial real estate construction—owner-occupied 2 2 — Total commercial 132 149 4 Commercial investor real estate mortgage 52 101 4 Commercial investor real estate construction 13 8 — Total investor real estate 65 109 4 Residential first mortgage 139 21 3 Home equity 185 10 — Consumer credit card 32 — — Indirect—vehicles and other consumer 66 1 — Total consumer 422 32 3 619 $ 290 $ 11 Six Months Ended June 30, 2015 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 103 $ 102 $ 2 Commercial real estate mortgage—owner-occupied 103 62 2 Total commercial 206 164 4 Commercial investor real estate mortgage 60 39 1 Commercial investor real estate construction 13 7 — Total investor real estate 73 46 1 Residential first mortgage 229 52 7 Home equity 312 15 — Consumer credit card 73 1 — Indirect—vehicles and other consumer 196 2 — Total consumer 810 70 7 1,089 $ 280 $ 12 Six Months Ended June 30, 2014 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 149 $ 164 $ 2 Commercial real estate mortgage—owner-occupied 157 147 3 Commercial real estate construction—owner-occupied 3 3 — Total commercial 309 314 5 Commercial investor real estate mortgage 150 208 4 Commercial investor real estate construction 28 15 — Total investor real estate 178 223 4 Residential first mortgage 264 45 7 Home equity 339 20 — Consumer credit card 64 — — Indirect—vehicles and other consumer 117 2 — Total consumer 784 67 7 1,271 $ 604 $ 16 Defaulted TDRs The following table presents by portfolio segment and class TDRs that defaulted during the three and six months ended June 30, 2015 and 2014 , and that were modified in the previous twelve months (i.e., the twelve months prior to the default). For purposes of this disclosure, default is defined as 90 days past due and still accruing for the consumer portfolio segment, and placement on non-accrual status for the commercial and investor real estate portfolio segments. Consideration of defaults in the calculation of the allowance for loan losses is described in detail in the consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2014 . Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Defaulted During the Period, Where Modified in a TDR Twelve Months Prior to Default Commercial and industrial $ 3 $ 4 $ 4 $ 46 Commercial real estate mortgage—owner-occupied 2 4 3 7 Total commercial 5 8 7 53 Commercial investor real estate mortgage — 2 1 4 Commercial investor real estate construction — — — 1 Total investor real estate — 2 1 5 Residential first mortgage 5 3 8 12 Home equity 1 1 1 2 Total consumer 6 4 9 14 $ 11 $ 14 $ 17 $ 72 Commercial and investor real estate loans that were on non-accrual status at the time of the latest modification are not included in the default table above, as they are already considered to be in default at the time of the restructuring. At June 30, 2015 , approximately $36 million of commercial and investor real estate loans modified in a TDR during the three months ended June 30, 2015 were on non-accrual status. Less than $1 million of this amount was 90 days past due. At June 30, 2015 , Regions had restructured binding unfunded commitments totaling $84 million where a concession was granted and the borrower was in financial difficulty. |
Servicing of Financial Assets
Servicing of Financial Assets | 6 Months Ended |
Jun. 30, 2015 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Servicing of Financial Assets | SERVICING OF FINANCIAL ASSETS RESIDENTIAL MORTGAGE BANKING ACTIVITIES The fair value of residential mortgage servicing rights is calculated using various assumptions including future cash flows, market discount rates, expected prepayment rates, servicing costs and other factors. A significant change in prepayments of mortgages in the servicing portfolio could result in significant changes in the valuation adjustments, thus creating potential volatility in the carrying amount of residential mortgage servicing rights. The Company compares fair value estimates and assumptions to observable market data when available, and also considers recent market activity and actual portfolio experience. The table below presents an analysis of residential mortgage servicing rights under the fair value measurement method: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Carrying value, beginning of period $ 239 $ 288 $ 257 $ 297 Additions 12 7 19 15 Increase (decrease) in fair value (1) : Due to change in valuation inputs or assumptions 28 (10 ) 11 (20 ) Economic amortization associated with borrower repayments (11 ) (9 ) (19 ) (16 ) Carrying value, end of period $ 268 $ 276 $ 268 $ 276 ________ (1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Prior to the fourth quarter of 2014, this line item reflected total loan payoffs only, while partial paydowns were included in the "Due to change in valuation inputs or assumptions" line item. The 2014 three and six months ended amount disclosed in the table has been reclassified to reflect the revised presentation. Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential mortgage servicing rights (excluding related derivative instruments) are as follows: June 30 2015 2014 (Dollars in millions) Unpaid principal balance $ 26,637 $ 27,261 Weighted-average prepayment speed (CPR; percentage) 10.0 % 10.4 % Estimated impact on fair value of a 10% increase $ (15 ) $ (14 ) Estimated impact on fair value of a 20% increase $ (27 ) $ (27 ) Option-adjusted spread (basis points) 998 888 Estimated impact on fair value of a 10% increase $ (11 ) $ (9 ) Estimated impact on fair value of a 20% increase $ (21 ) $ (18 ) Weighted-average coupon interest rate 4.4 % 4.5 % Weighted-average remaining maturity (months) 279 278 Weighted-average servicing fee (basis points) 27.8 27.8 The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of an adverse variation in a particular assumption on the fair value of the residential mortgage servicing rights is calculated without changing any other assumption, while in reality changes in one factor may result in changes in another, which may either magnify or counteract the effect of the change. The derivative instruments utilized by Regions would serve to reduce the estimated impacts to fair value included in the table above. The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Servicing related fees and other ancillary income $ 20 $ 22 $ 41 $ 43 Residential mortgage loans are sold in the secondary market with standard representations and warranties regarding certain characteristics such as the quality of the loan, the absence of fraud, the eligibility of the loan for sale and the future servicing associated with the loan. Regions may be required to repurchase these loans at par, or make-whole or indemnify the purchasers for losses incurred when representations and warranties are breached. Regions maintains a repurchase liability related to residential mortgage loans sold with representations and warranty provisions. This repurchase liability is reported in other liabilities on the consolidated balance sheets and reflects management’s estimate of losses based on historical repurchase and loss trends, as well as other factors that may result in anticipated losses different from historical loss trends. Adjustments to this reserve are recorded in other non-interest expense on the consolidated statements of income. The table below presents an analysis of Regions’ repurchase liability related to residential mortgage loans sold with representations and warranty provisions: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Beginning balance $ 26 $ 39 $ 26 $ 39 Additions (reductions), net (5 ) (2 ) (4 ) 1 Losses (1 ) (3 ) (2 ) (6 ) Ending balance $ 20 $ 34 $ 20 $ 34 COMMERCIAL MORTGAGE BANKING ACTIVITIES On July 18, 2014, Regions was approved as a Fannie Mae Delegated Underwriting and Servicing ("DUS") lender and acquired a DUS servicing portfolio totaling approximately $1.0 billion . The Fannie Mae DUS program provides liquidity to the multi-family housing market. As part of the transaction, Regions recorded $12 million in commercial mortgage servicing rights accounted for under the amortization method and $15 million in intangible assets associated with the DUS license purchased. Regions also assumed a one-third loss share guarantee associated with the purchased portfolio and any future originations. Regions estimated the fair value of the loss share guarantee to be approximately $4 million . See Note 1 "Summary of Significant Accounting Policies" in the 2014 Annual Report on Form 10-K for additional information. As of June 30, 2015 , the DUS servicing portfolio remained at approximately $1.0 billion , the related commercial mortgage servicing rights were valued at approximately $12 million , due to new loan originations, and the loss share guarantee was valued at approximately $2 million . |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | GOODWILL Goodwill allocated to each reportable segment (each a reporting unit) is presented as follows: June 30, 2015 December 31, 2014 (In millions) Corporate Bank $ 2,258 $ 2,258 Consumer Bank 2,095 2,095 Wealth Management 463 463 $ 4,816 $ 4,816 Regions evaluates each reporting unit’s goodwill for impairment on an annual basis in the fourth quarter, or more often if events or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. A detailed description of the Company's methodology and valuation approaches used to determine the estimated fair value of each reporting unit is included in the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2014. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. During the second quarter of 2015, Regions assessed events and circumstances for all three reporting units as of June 30, 2015 and through the date of the filing of this Quarterly Report on Form 10-Q that could potentially indicate goodwill impairment. The indicators assessed included: • Recent operating performance, • Changes in market capitalization, • Regulatory actions and assessments, • Changes in the business climate (including legislation, legal factors, and competition), • Company-specific factors (including changes in key personnel, asset impairments, and business dispositions), and • Trends in the banking industry. Results of the 2014 annual test indicated that the estimated fair value of each reporting unit exceeded its carrying amount as of the test date. Additionally, after assessing the indicators noted above, Regions determined that it was not more likely than not that the fair value of each of its reporting units had declined below their carrying values as of June 30, 2015 . Therefore, Regions determined that a test of goodwill impairment was not required for each of Regions’ reporting units for the June 30, 2015 interim period. |
Stockholders' Equity and Accumu
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) | STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) PREFERRED STOCK The following table presents a summary of the non-cumulative perpetual preferred stock: June 30, 2015 December 31, 2014 Issuance Date Earliest Redemption Date Dividend Rate Liquidation Amount Carrying Amount Carrying Amount (Dollars in millions) Series A 11/1/2012 12/15/2017 6.375 % $ 500 $ 403 $ 419 Series B 4/29/2014 9/15/2024 6.375 % (1) 500 449 465 $ 1,000 $ 852 $ 884 _________ (1) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375% , and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536% . For each preferred stock issuance listed above, Regions issued depositary shares, each representing a 1/40th ownership interest in a share of the Company's preferred stock, with a liquidation preference of $1,000.00 per share of preferred stock (equivalent to $25.00 per depositary share). Dividends on the preferred stock, if declared, accrue and are payable quarterly in arrears. The preferred stock has no stated maturity and redemption is solely at Regions' option, subject to regulatory approval, in whole, or in part, after the earliest redemption date or in whole, but not in part, within 90 days following a regulatory capital treatment event for the Series A preferred stock or at any time following a regulatory capital treatment event for the Series B preferred stock. The Board of Directors declared $8 million in cash dividends on Series A Preferred Stock during the first and second quarters of 2015 and 2014. Series B Preferred Stock dividends were $8 million for the first and second quarters of 2015. Because the Company was in a retained deficit position, preferred dividends were recorded as a reduction of preferred stock, including related surplus. COMMON STOCK During the first quarter of 2015, Regions received no objection from the Federal Reserve to its 2015 capital plan that was submitted as part of the Comprehensive Capital Analysis and Review ("CCAR") process. On April 23, 2015, Regions' Board of Directors approved an increase of its quarterly common stock dividend to $0.06 per share effective with the quarterly dividend paid in July 2015, as well as the authorization of a new $875 million common stock repurchase plan, permitting repurchases from the beginning of the second quarter of 2015 through the end of the second quarter of 2016. During the second quarter of 2015, Regions repurchased approximately 17 million shares of common stock at a total cost of approximately $172 million . The Company continued to repurchase shares under this plan in the third quarter of 2015, and as of August 4, 2015, Regions had additional repurchases of approximately 10 million shares of common stock at a total cost of approximately $101 million . All common shares repurchased under this plan were immediately retired and therefore will not be included in treasury stock. As part of its 2014 CCAR submission, Regions' Board of Directors approved an increase to its quarterly common stock dividend from $0.03 per share to $0.05 per share effective with the quarterly dividend paid in July 2014, as well as a $350 million common stock repurchase plan. The Company closed out this repurchase plan in the first quarter of 2015, repurchasing an additional approximately 11 million shares of common stock at a total cost of approximately $102 million . These shares were immediately retired and therefore are not included in treasury stock. The Board of Directors declared a $0.06 per share cash dividend on common stock for the second quarter of 2015 , and a $0.05 per share cash dividend for the first quarter of 2015 , totaling $0.11 per share cash dividend for the first six months of 2015. The Board of Directors declared a $0.05 per share cash dividend on common stock for the second quarter of 2014, and a $0.03 per share cash dividend for the first quarter of 2014, totaling $0.08 per share cash dividend for the first six months of 2014. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Activity within the balances in accumulated other comprehensive income (loss) is shown in the following tables: Three Months Ended June 30, 2015 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive income (loss), net of tax (In millions) Beginning of period $ (53 ) $ 252 $ 70 $ (384 ) $ (115 ) Net change 2 (156 ) (25 ) 7 (172 ) End of period $ (51 ) $ 96 $ 45 $ (377 ) $ (287 ) Three Months Ended June 30, 2014 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive income (loss), net of tax (In millions) Beginning of period $ (62 ) $ 56 $ 21 $ (244 ) $ (229 ) Net change 2 147 23 5 177 End of period $ (60 ) $ 203 $ 44 $ (239 ) $ (52 ) Six Months Ended June 30, 2015 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive (In millions) Beginning of period $ (55 ) $ 175 $ 33 $ (391 ) $ (238 ) Net change 4 (79 ) 12 14 (49 ) End of period $ (51 ) $ 96 $ 45 $ (377 ) $ (287 ) Six Months Ended June 30, 2014 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive (In millions) Beginning of period $ (64 ) $ (22 ) $ 15 $ (248 ) $ (319 ) Net change 4 225 29 9 267 End of period $ (60 ) $ 203 $ 44 $ (239 ) $ (52 ) The following tables present amounts reclassified out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Consolidated Statements of Income (In millions) Unrealized losses on securities transferred to held to maturity: $ (4 ) $ (4 ) Net interest income 2 2 Tax (expense) or benefit $ (2 ) $ (2 ) Net of tax Unrealized gains and (losses) on available-for-sale securities: $ 6 $ 6 Securities gains, net (2 ) (2 ) Tax (expense) or benefit $ 4 $ 4 Net of tax Gains and (losses) on cash flow hedges: Interest rate contracts $ 34 $ 29 Net interest income (13 ) (11 ) Tax (expense) or benefit $ 21 $ 18 Net of tax Amortization of defined benefit pension plans and other post employment benefits: Prior-service cost $ — $ (1 ) (2) Actuarial gains (losses) (12 ) (5 ) (2) (12 ) (6 ) Total before tax 5 2 Tax (expense) or benefit $ (7 ) $ (4 ) Net of tax Total reclassifications for the period $ 16 $ 16 Net of tax Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Consolidated Statements of Income (In millions) Unrealized losses on securities transferred to held to maturity: $ (7 ) $ (7 ) Net interest income 3 3 Tax (expense) or benefit $ (4 ) $ (4 ) Net of tax Unrealized gains and (losses) on available-for-sale securities: $ 11 $ 8 Securities gains, net (4 ) (3 ) Tax (expense) or benefit $ 7 $ 5 Net of tax Gains and (losses) on cash flow hedges: Interest rate contracts $ 67 $ 57 Net interest income (25 ) (22 ) Tax (expense) or benefit $ 42 $ 35 Net of tax Amortization of defined benefit pension items: Prior-service cost $ — $ (1 ) (2) Actuarial gains/(losses) (24 ) (11 ) (2) (24 ) (12 ) Total before tax 9 4 Tax (expense) or benefit $ (15 ) $ (8 ) Net of tax Total reclassifications for the period $ 30 $ 28 Net of tax ________ (1) Amounts in parentheses indicate reductions to net income. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost and are included in salaries and employee benefits on the consolidated statements of income (see Note 10 for additional details). |
Earnings (Loss) Per Common Shar
Earnings (Loss) Per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Common Share | EARNINGS (LOSS) PER COMMON SHARE The following table sets forth the computation of basic earnings (loss) per common share and diluted earnings (loss) per common share: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions, except per share amounts) Numerator: Income from continuing operations $ 289 $ 295 $ 525 $ 598 Preferred stock dividends (16 ) (8 ) (32 ) (16 ) Income from continuing operations available to common shareholders 273 287 493 582 Income (loss) from discontinued operations, net of tax (4 ) 1 (6 ) 13 Net income available to common shareholders $ 269 $ 288 $ 487 $ 595 Denominator: Weighted-average common shares outstanding—basic 1,335 1,378 1,340 1,378 Potential common shares 11 12 12 12 Weighted-average common shares outstanding—diluted 1,346 1,390 1,352 1,390 Earnings per common share from continuing operations available to common shareholders (1) : Basic $ 0.20 $ 0.21 $ 0.37 $ 0.42 Diluted 0.20 0.21 0.36 0.42 Earnings (loss) per common share from discontinued operations (1) : Basic (0.00 ) 0.00 (0.00 ) 0.01 Diluted (0.00 ) 0.00 (0.00 ) 0.01 Earnings per common share (1) : Basic 0.20 0.21 0.36 0.43 Diluted 0.20 0.21 0.36 0.43 ________ (1) Certain per share amounts may not appear to reconcile due to rounding. For earnings (loss) per common share from discontinued operations, basic and diluted weighted-average common shares outstanding are the same for the three and six months ended June 30, 2015 due to a net loss. The effect from the assumed exercise of 30 million and 29 million stock options for the three and six months ended June 30, 2015 , respectively, was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share. The effect from the assumed exercise of 23 million and 24 million stock options for the three and six months ended June 30, 2014 , respectively, was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share. |
Share-Based Payments
Share-Based Payments | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Payments | SHARE-BASED PAYMENTS Regions administers long-term incentive compensation plans that permit the granting of incentive awards in the form of stock options, restricted stock awards, performance awards and stock appreciation rights. While Regions has the ability to issue stock appreciation rights, none have been issued to date. The terms of all awards issued under these plans are determined by the Compensation Committee of the Board of Directors; however, no awards may be granted after the tenth anniversary from the date the plans were initially approved by shareholders. Incentive awards usually vest based on employee service, generally within three years from the date of the grant. The contractual lives of options granted under these plans are typically ten years from the date of the grant. On April 23, 2015, the shareholders of the Company approved the Regions Financial Corporation 2015 Long Term Incentive Plan ("2015 LTIP"), which permits the Company to grant to employees and directors various forms of incentive compensation. These forms of incentive compensation are similar to the types of compensation approved in prior plans. The 2015 LTIP authorizes 60 million common share equivalents available for grant, where grants of options and grants of full value awards (e.g., shares of restricted stock, restricted stock units and performance stock units) count as one share equivalent. Unless otherwise determined by the Compensation Committee of the Board of Directors, grants of restricted stock, restricted stock units, and performance stock units accrue dividends, or their notional equivalent, as they are declared by the Board of Directors, and are paid upon vesting of the award. Upon adoption of the 2015 LTIP, Regions closed the prior long-term incentive plan to new grants, and, accordingly, prospective grants must be made under the 2015 LTIP or a successor plan. All existing grants under prior long-term incentive plans are unaffected by adoption of the 2015 LTIP. The number of remaining share equivalents available for future issuance under the 2015 LTIP was approximately 54 million at June 30, 2015 . STOCK OPTIONS The following table summarizes the activity related to stock options: Six Months Ended June 30 2015 2014 Number of Options Weighted-Average Exercise Price Number of Options Weighted-Average Exercise Price Outstanding at beginning of period 25,316,676 $ 23.07 32,127,235 $ 22.81 Exercised (291,460 ) 6.96 (1,852,880 ) 4.11 Canceled/Forfeited (5,301,942 ) 31.95 (4,386,408 ) 30.48 Outstanding at end of period 19,723,274 $ 20.92 25,887,947 $ 22.85 Exercisable at end of period 19,723,274 $ 20.92 25,843,106 $ 22.87 RESTRICTED STOCK AWARDS AND PERFORMANCE STOCK AWARDS Regions periodically grants restricted stock awards that vest upon service conditions. Regions also periodically grants restricted stock awards and performance stock awards that vest based upon service conditions and performance conditions. Incremental shares earned above the performance target associated with previous performance stock awards are included when and if performance targets are achieved. Dividend payments during the vesting period are deferred to the end of the vesting term. The fair value of these restricted shares, restricted stock units and performance stock units was estimated based upon the fair value of the underlying shares on the date of the grant. The valuation was not adjusted for the deferral of dividends. The following table summarizes the activity related to restricted stock awards and performance stock awards: Six Months Ended June 30 2015 2014 Number of Shares Weighted-Average Grant Date Fair Value Number of Shares Weighted-Average Non-vested at beginning of period 18,427,409 $ 8.07 16,212,198 $ 6.83 Granted 6,603,342 9.90 5,345,093 11.22 Vested (7,968,049 ) 6.01 (2,471,617 ) 6.83 Forfeited (371,998 ) 8.18 (178,505 ) 7.42 Non-vested at end of period 16,690,704 $ 9.50 18,907,169 $ 8.06 |
Pension and Other Postretiremen
Pension and Other Postretirement Benefits | 6 Months Ended |
Jun. 30, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Pension and Other Postretirement Benefits | PENSION AND OTHER POSTRETIREMENT BENEFITS Regions has a defined benefit pension plan qualified under the Internal Revenue Code covering only certain employees as the pension plan is closed to new entrants. The Company also sponsors a supplemental executive retirement program (the "SERP"), which is a non-qualified pension plan that provides certain senior executive officers defined benefits in relation to their compensation. Net periodic pension cost, which is recorded in salaries and employee benefits on the consolidated statements of income, included the following components: Qualified Plan Non-qualified Plans Total Three Months Ended June 30 2015 2014 2015 2014 2015 2014 (In millions) Service cost $ 10 $ 8 $ 2 $ 1 $ 12 $ 9 Interest cost 21 22 2 2 23 24 Expected return on plan assets (38 ) (35 ) — — (38 ) (35 ) Amortization of actuarial loss 11 5 1 — 12 5 Amortization of prior service cost — — — 1 — 1 Settlement charge — — — 3 — 3 Net periodic pension cost $ 4 $ — $ 5 $ 7 $ 9 $ 7 Qualified Plan Non-qualified Plans Total Six Months Ended June 30 2015 2014 2015 2014 2015 2014 (In millions) Service cost $ 20 $ 16 $ 3 $ 2 $ 23 $ 18 Interest cost 42 44 3 3 45 47 Expected return on plan assets (74 ) (69 ) — — (74 ) (69 ) Amortization of actuarial loss 22 10 2 1 24 11 Amortization of prior service cost — — — 1 — 1 Settlement charge — — — 3 — 3 Net periodic pension cost $ 10 $ 1 $ 8 $ 10 $ 18 $ 11 Regions' policy for funding the qualified pension plan is to contribute annually at least the amount required by Internal Revenue Service ("IRS") minimum funding standards. Regions made a contribution of $150 million for the 2014 plan year during the first three months of 2015. Regions also provides other postretirement benefits such as defined benefit health care plans and life insurance plans that cover certain retired employees. There was no material impact from other postretirement benefits on the consolidated financial statements for the six months ended June 30, 2015 or 2014 . |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax | INCOME TAXES During the second quarter of 2015, the Company reached an agreement with the IRS to settle audits for the tax years 2010, 2011 and 2012. The settlement reduced income tax expense by $4 million in the second quarter of 2015, including a reduction in unrecognized tax benefits ("UTBs") of $3 million . The Company has entered the IRS’s Compliance Assurance Process program for 2015. A state audit settlement during the second quarter of 2015 resulted in a reduction in income tax expense of $3 million . With few exceptions, the Company is no longer subject to state and local tax examinations for tax years before 2008. Currently there are disputed tax positions taken in previously filed tax returns with certain states. The Company continues to evaluate these positions and intends to defend proposed adjustments made by these tax authorities. The Company does not anticipate the ultimate resolution of these examinations will result in a material change to its business, financial position, results of operations or cash flows. As of June 30, 2015 and December 31, 2014, the balance in the Company’s UTBs was $44 million and $50 million , respectively. The decrease of $6 million is principally related to the settlement of the state audit and the IRS audit previously discussed. As of June 30, 2015 and December 31, 2014, the balance of UTBs that would reduce the effective tax rate, if recognized, was $29 million and $34 million , respectively. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging Activities | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging Activities | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES The following tables present the notional amount and estimated fair value of derivative instruments on a gross basis as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Gain (1) Loss (1) Gain (1) Loss (1) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 2,217 $ 8 $ 15 $ 2,817 $ 6 $ 30 Derivatives in cash flow hedging relationships: Interest rate swaps 8,950 60 12 8,050 38 31 Total derivatives designated as hedging instruments $ 11,167 $ 68 $ 27 $ 10,867 $ 44 $ 61 Derivatives not designated as hedging instruments: Interest rate swaps $ 40,012 $ 528 $ 575 $ 45,860 $ 941 $ 972 Interest rate options 2,991 17 1 3,016 10 2 Interest rate futures and forward commitments 17,530 11 5 17,978 3 8 Other contracts 4,441 134 134 4,149 217 211 Total derivatives not designated as hedging instruments $ 64,974 $ 690 $ 715 $ 71,003 $ 1,171 $ 1,193 Total derivatives $ 76,141 $ 758 $ 742 $ 81,870 $ 1,215 $ 1,254 _________ (1) Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. HEDGING DERIVATIVES Derivatives entered into to manage interest rate risk and facilitate asset/liability management strategies are designated as hedging derivatives. Derivative financial instruments that qualify in a hedging relationship are classified, based on the exposure being hedged, as either fair value hedges or cash flow hedges. See Note 1 "Summary of Significant Accounting Policies" of the Annual Report on Form 10-K for the year ended December 31, 2014 for additional information regarding accounting policies for derivatives. FAIR VALUE HEDGES Fair value hedge relationships mitigate exposure to the change in fair value of an asset, liability or firm commitment. Regions enters into interest rate swap agreements to manage interest rate exposure on the Company’s fixed-rate borrowings, which includes long-term debt and certificates of deposit. These agreements involve the receipt of fixed-rate amounts in exchange for floating-rate interest payments over the life of the agreements. Regions enters into interest rate swap agreements to manage interest rate exposure on certain of the Company's fixed-rate available for sale securities. These agreements involve the payment of fixed-rate amounts in exchange for floating-rate interest receipts. CASH FLOW HEDGES Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. Regions enters into interest rate swap agreements to manage overall cash flow changes related to interest rate risk exposure on LIBOR-based loans. The agreements effectively modify the Company’s exposure to interest rate risk by utilizing receive fixed/pay LIBOR interest rate swaps. Regions issues long-term fixed-rate debt for various funding needs. Regions may enter into receive LIBOR/pay fixed forward starting swaps to hedge risks of changes in the projected quarterly interest payments attributable to changes in the benchmark interest rate ("LIBOR") during the time leading up to the probable issuance date of the new long-term fixed-rate debt. Regions recognized an unrealized after-tax gain of $18 million and $48 million in accumulated other comprehensive income (loss) at June 30, 2015 and 2014 , respectively, related to terminated cash flow hedges of loan and debt instruments, which will be amortized into earnings in conjunction with the recognition of interest payments through 2018. Regions recognized pre-tax income of $11 million and $13 million during the three months ended June 30, 2015 and 2014 , respectively, and pre-tax income of $22 million and $24 million during the six months ended June 30, 2015 and 2014 , respectively, related to the amortization of cash flow hedges of loan and debt instruments. Regions expects to reclassify out of accumulated other comprehensive income (loss) and into earnings approximately $100 million in pre-tax income due to the receipt of interest payments on all cash flow hedges within the next twelve months. Included in this amount is $27 million in pre-tax net gains related to the amortization of discontinued cash flow hedges. The maximum length of time over which Regions is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately six years as of June 30, 2015 . The following tables present the effect of hedging derivative instruments on the consolidated statements of income: Gain or (Loss) Recognized in Income on Derivatives Location of Amounts Recognized in Income on Derivatives and Related Hedged Item Gain or (Loss) Recognized in Income on Related Hedged Item Three Months Ended June 30 Three Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Fair Value Hedges: Interest rate swaps on: Debt/CDs $ 4 $ 6 Interest expense $ 2 $ 6 Debt/CDs (3 ) (6 ) Other non-interest expense 3 8 Securities available for sale (4 ) (4 ) Interest income — — Securities available for sale 25 (14 ) Other non-interest expense (25 ) 13 Total $ 22 $ (18 ) $ (20 ) $ 27 Effective Portion (3) Gain or (Loss) Recognized in AOCI (1) Location of Amounts Reclassified from AOCI into Income Gain or (Loss) Reclassified from AOCI into Income (2) Three Months Ended June 30 Three Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Cash Flow Hedges: Interest rate swaps $ (25 ) $ 22 Interest income on loans $ 34 $ 31 Forward starting swaps — 1 Interest expense on debt — (2 ) Total $ (25 ) $ 23 $ 34 $ 29 Gain or (Loss) Recognized in Income on Derivatives Location of Amounts Recognized in Income on Derivatives and Related Hedged Item Gain or (Loss) Recognized in Income on Related Hedged Item Six Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Fair Value Hedges: Interest rate swaps on: Debt/CDs $ 8 $ 15 Interest expense $ 6 $ 8 Debt/CDs 4 (14 ) Other non-interest expense (4 ) 17 Securities available for sale (8 ) (8 ) Interest income — — Securities available for sale 5 (32 ) Other non-interest expense (6 ) 27 Total $ 9 $ (39 ) $ (4 ) $ 52 Effective Portion (3) Gain or (Loss) Recognized in AOCI (1) Location of Amounts Reclassified from AOCI into Income Gain or (Loss) Reclassified from AOCI into Income (2) Six Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Cash Flow Hedges: Interest rate swaps $ 12 $ 26 Interest income on loans $ 67 $ 62 Forward starting swaps — 3 Interest expense on debt — (5 ) Total $ 12 $ 29 $ 67 $ 57 ______ (1) After-tax (2) Pre-tax (3) All cash flow hedges were highly effective for all periods presented, and the change in fair value attributed to hedge ineffectiveness was not material. DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The Company maintains a derivatives portfolio of interest rate swaps, option contracts, and futures and forward commitments used to meet the needs of its customers. The portfolio is primarily used to help clients manage market risk. The Company is subject to the credit risk that a counterparty will fail to perform. The Company is also subject to market risk, which is evaluated by the Company and monitored by the asset/liability management process. Separate derivative contracts are entered into to reduce overall market exposure to pre-defined limits. The contracts in this portfolio do not qualify for hedge accounting and are marked-to-market through earnings and included in other assets and other liabilities. Regions enters into interest rate lock commitments, which are commitments to originate mortgage loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. At June 30, 2015 and December 31, 2014 , Regions had $443 million and $233 million , respectively, in total notional amount of interest rate lock commitments. Regions manages market risk on interest rate lock commitments and mortgage loans held for sale with corresponding forward sale commitments. Residential mortgage loans held for sale are recorded at fair value with changes in fair value recorded in mortgage income. Commercial mortgage loans held for sale are recorded at the lower of cost or market with changes to the value of the related forward sale commitments recorded in capital markets fee income and other. At June 30, 2015 and December 31, 2014 , Regions had $859 million and $621 million , respectively, in total notional amount related to these forward sale commitments. Regions has elected to account for residential mortgage servicing rights at fair market value with any changes to fair value being recorded within mortgage income. Concurrent with the election to use the fair value measurement method, Regions began using various derivative instruments, in the form of forward rate commitments, futures contracts, swaps and swaptions to mitigate the consolidated statement of income effect of changes in the fair value of its residential mortgage servicing rights. As of June 30, 2015 and December 31, 2014 , the total notional amount related to these contracts was $3.4 billion and $3.7 billion , respectively. The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30 Six Months Ended June 30 Derivatives Not Designated as Hedging Instruments 2015 2014 2015 2014 (In millions) Capital markets fee income and other (1) : Interest rate swaps $ 4 $ 3 $ 8 $ 5 Interest rate options 4 — 4 — Interest rate futures and forward commitments — (1 ) (1 ) (1 ) Other contracts (11 ) 4 (7 ) 6 Total capital markets fee income and other (3 ) 6 4 10 Mortgage income: Interest rate swaps (16 ) 10 (3 ) 18 Interest rate options (3 ) 3 4 6 Interest rate futures and forward commitments 3 (4 ) 7 (8 ) Total mortgage income (16 ) 9 8 16 $ (19 ) $ 15 $ 12 $ 26 ______ (1) Capital markets fee income and other is included in Other income on the consolidated statements of income. Credit risk, defined as all positive exposures not collateralized with cash or other assets or reserved for, at both June 30, 2015 and December 31, 2014 , totaled approximately $392 million . This amount represents the net credit risk on all trading and other derivative positions held by Regions. CREDIT DERIVATIVES Regions has both bought and sold credit protection in the form of participations on interest rate swaps (swap participations). These swap participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business to serve the credit needs of customers. Credit derivatives, whereby Regions has purchased credit protection, entitle Regions to receive a payment from the counterparty when the customer fails to make payment on any amounts due to Regions upon early termination of the swap transaction and have maturities between 2015 and 2020. Credit derivatives whereby Regions has sold credit protection have maturities between 2016 and 2022. For contracts where Regions sold credit protection, Regions would be required to make payment to the counterparty when the customer fails to make payment on any amounts due to the counterparty upon early termination of the swap transaction. Regions bases the current status of the prepayment/performance risk on bought and sold credit derivatives on recently issued internal risk ratings consistent with the risk management practices of unfunded commitments. Regions’ maximum potential amount of future payments under these contracts as of June 30, 2015 was approximately $99 million . This scenario would only occur if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of sold protection at June 30, 2015 and 2014 was immaterial. In transactions where Regions has sold credit protection, recourse to collateral associated with the original swap transaction is available to offset some or all of Regions’ obligation. CONTINGENT FEATURES Certain of Regions’ derivative instrument contracts with broker-dealers contain credit-related termination provisions and/or credit-related provisions regarding the posting of collateral, allowing those broker-dealers to terminate the contracts in the event that Regions’ and/or Regions Bank’s credit ratings falls below specified ratings from certain major credit rating agencies. The aggregate fair value of all derivative instruments with any credit-risk-related contingent features that were in a liability position on June 30, 2015 and December 31, 2014 , was $235 million and $272 million , respectively, for which Regions had posted collateral of $234 million and $272 million , respectively, in the normal course of business. OFFSETTING Regions engages in derivatives transactions with dealers and customers. These derivatives transactions are subject to enforceable master netting agreements, which include a right of setoff by the non-defaulting or non-affected party upon early termination of the derivatives transaction. The following table presents the Company's gross derivative positions, including collateral posted or received, as of June 30, 2015 and December 31, 2014 . Offsetting Derivative Assets Offsetting Derivative Liabilities June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 (In millions) Gross amounts subject to offsetting $ 679 $ 1,157 $ 673 $ 1,195 Gross amounts not subject to offsetting 79 58 69 59 Gross amounts recognized 758 1,215 742 1,254 Gross amounts offset in the consolidated balance sheets (1) 361 815 589 1,054 Net amounts presented in the consolidated balance sheets 397 400 153 200 Gross amounts not offset in the consolidated balance sheets: Financial instruments 5 8 12 — Cash collateral received/posted — — 12 29 Net amounts $ 392 $ 392 $ 129 $ 171 ________ (1) At June 30, 2015 , gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $82 million and cash collateral posted of $309 million . At December 31, 2014 , gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $111 million and cash collateral posted of $354 million . Gross amounts of derivatives not subject to offsetting primarily consist of derivatives cleared through a Central Counterparty Clearing House ("CCP") and interest rate lock commitments to originate mortgage loans. During 2014, Regions obtained legal opinions which support that trades cleared through the Chicago Mercantile Exchange are governed under a master netting agreement and, consequently, trades cleared through this CCP receive balance sheet netting treatment. Legal opinions have not been obtained for trades cleared through the London Clearing House, Ltd,. and, therefore, trades cleared through this CCP are not offset on Regions' consolidated balance sheets. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS See Note 1 “Summary of Significant Accounting Policies” to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2014 for a description of valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. There were no such transfers during the six month periods ended June 30, 2015 and 2014 . Trading account securities and securities available for sale may be periodically transferred to or from Level 3 valuation based on management’s conclusion regarding the observability of inputs used in valuing the security. Such transfers are accounted for as if they occur at the beginning of a reporting period. The following table presents assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Estimated Fair Value Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Recurring fair value measurements Trading account securities $ 110 $ — $ — $ 110 $ 106 $ — $ — $ 106 Securities available for sale: U.S. Treasury securities $ 181 $ — $ — $ 181 $ 176 $ — $ — $ 176 Federal agency securities — 228 — 228 — 235 — 235 Obligations of states and political subdivisions — 2 — 2 — 2 — 2 Mortgage-backed securities (MBS): Residential agency — 15,942 — 15,942 — 16,038 — 16,038 Residential non-agency — — 6 6 — — 8 8 Commercial agency — 2,176 — 2,176 — 1,964 — 1,964 Commercial non-agency — 1,481 — 1,481 — 1,494 — 1,494 Corporate and other debt securities — 1,801 3 1,804 — 1,987 3 1,990 Equity securities (1) 224 — — 224 146 — — 146 Total securities available for sale $ 405 $ 21,630 $ 9 $ 22,044 $ 322 $ 21,720 $ 11 $ 22,053 Mortgage loans held for sale $ — $ 466 $ — $ 466 $ — $ 440 $ — $ 440 Residential mortgage servicing rights $ — $ — $ 268 $ 268 $ — $ — $ 257 $ 257 Derivative assets: Interest rate swaps $ — $ 596 $ — $ 596 $ — $ 985 $ — $ 985 Interest rate options — 2 15 17 — 2 8 10 Interest rate futures and forward commitments — 11 — 11 — 3 — 3 Other contracts — 134 — 134 — 217 — 217 Total derivative assets $ — $ 743 $ 15 $ 758 $ — $ 1,207 $ 8 $ 1,215 Derivative liabilities: Interest rate swaps $ — $ 602 $ — $ 602 $ — $ 1,033 $ — $ 1,033 Interest rate options — 1 — 1 — 2 — 2 Interest rate futures and forward commitments — 5 — 5 — 8 — 8 Other contracts — 134 — 134 — 211 — 211 Total derivative liabilities $ — $ 742 $ — $ 742 $ — $ 1,254 $ — $ 1,254 Nonrecurring fair value measurements Loans held for sale $ — $ — $ 8 $ 8 $ — $ — $ 33 $ 33 Foreclosed property and other real estate — 37 46 83 — 41 8 49 _______ (1) Excludes Federal Reserve Bank and Federal Home Loan Bank Stock totaling $484 million and $144 million at June 30, 2015 and $488 million and $39 million at December 31, 2014 , respectively. Assets and liabilities in all levels could result in volatile and material price fluctuations. Realized and unrealized gains and losses on Level 3 assets represent only a portion of the risk to market fluctuations in Regions’ consolidated balance sheets. Further, derivatives included in Levels 2 and 3 are used by the Asset and Liability Management Committee of the Company in a holistic approach to managing price fluctuation risks. The following tables illustrate a rollforward for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2015 and 2014 . The tables do not reflect the change in fair value attributable to any related economic hedges the Company used to mitigate the interest rate risk associated with these assets and liabilities. The net changes in realized gains (losses) included in earnings related to Level 3 assets and liabilities held at June 30, 2015 and 2014 are not material. Three Months Ended June 30, 2015 Opening Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers Transfers Closing Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 7 — — — — — (1 ) — — $ 6 Corporate and other debt securities 3 — — — — — — — — 3 Total securities available for sale $ 10 — — — — — (1 ) — — $ 9 Residential mortgage servicing rights $ 239 17 (1) — 12 — — — — — $ 268 Total derivatives, net $ 14 21 (1) — 4 — — (24 ) — — $ 15 Three Months Ended June 30, 2014 Opening Total Realized / Purchases Sales Issuances Settlements Transfers Transfers Closing Included Included (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 9 — — — — — — — — $ 9 Corporate and other debt securities 3 — — — — — (1 ) — — 2 Total securities available for sale $ 12 — — — — — (1 ) — — $ 11 Residential mortgage servicing rights $ 288 (19 ) (1) — 7 — — — — — $ 276 Total derivatives, net $ 8 29 (1) — — — — (25 ) — — $ 12 Six Months Ended June 30, 2015 Opening Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers Transfers Closing Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 8 — — — — — (2 ) — — $ 6 Corporate and other debt securities 3 — — — — — — — — 3 Total securities available for sale $ 11 — — — — — (2 ) — — $ 9 Residential mortgage servicing rights $ 257 (8 ) (1) — 19 — — — — — $ 268 Total derivatives, net $ 8 49 (1) — 4 — — (46 ) — — $ 15 Six Months Ended June 30, 2014 Opening Balance January 1, 2014 Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Closing Balance June 30, 2014 Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 9 — — — — — — — — $ 9 Corporate and other debt securities 2 — — 3 — — (3 ) — — 2 Total securities available for sale $ 11 — — 3 — — (3 ) — — $ 11 Residential mortgage servicing rights $ 297 (36 ) (1) — 15 — — — — — $ 276 Total derivatives, net $ 5 50 (1) — — — — (43 ) — — $ 12 _________ (1) Primarily included in mortgage income. The following table presents the fair value adjustments related to non-recurring fair value measurements: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Loans held for sale $ (4 ) $ (8 ) $ (11 ) $ (23 ) Foreclosed property and other real estate (40 ) (7 ) (47 ) (14 ) The following tables present detailed information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of June 30, 2015 and December 31, 2014 . The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted average within the range utilized at June 30, 2015 and December 31, 2014 are included. Following the tables are a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input. June 30, 2015 Level 3 Estimated Fair Value at June 30, 2015 Valuation Technique Unobservable Input(s) Quantitative Range of Unobservable Inputs and (Weighted-Average) (Dollars in millions) Recurring fair value measurements: Securities available for sale: Residential non-agency MBS $6 Discounted cash flow Spread to LIBOR 5.4% - 49.9% (14.6%) Weighted-average prepayment speed (CPR; percentage) 4.6% - 30.6% (11.1%) Probability of default 1.4% Loss severity 40.7% Corporate and other debt securities $3 Market comparable Evaluated quote on same issuer/comparable bond 100.0% Residential mortgage servicing rights (1) $268 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.4% - 10.7% (10.0%) Option-adjusted spread (percentage) 8.7% - 17.3% (10.0%) Derivative assets: Interest rate options $11 Interest rate lock commitments on the residential mortgage loans are valued using discounted cash flows Weighted-average prepayment speed (CPR; percentage) 9.4% - 10.7% (10.0%) Option-adjusted spread (percentage) 8.7% - 17.3% (10.0%) Pull-through 10.1% - 99.1% (88.4%) $4 Interest rate lock commitments on the commercial mortgage loans are valued using discounted cash flows Internal rate of return 12.0% Nonrecurring fair value measurements: Loans held for sale $8 Commercial loans held for sale are valued based on multiple data points, including discount to appraised value of collateral based on recent market activity for sales of similar loans Appraisal comparability adjustment (discount) 13.5% - 82.6% (58.2%) Foreclosed property and other real estate $24 Property in foreclosure is valued by discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 25.0% - 53.3% (28.3%) $22 Bank owned property valuations are based on comparable sales and local broker network estimates provided by a third-party real estate services provider Estimated third-party valuations utilizing available sales data for similar transactions (discount) 15.4% - 89.1% (59.5%) _________ (1) See Note 5 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. December 31, 2014 Level 3 Estimated Fair Value at December 31, 2014 Valuation Technique Unobservable Input(s) Quantitative Range of Unobservable Inputs and (Weighted-Average) (Dollars in millions) Recurring fair value measurements: Securities available for sale: Residential non-agency MBS $8 Discounted cash flow Spread to LIBOR 5.4% - 49.9% (12.3%) Weighted-average prepayment speed (CPR; percentage) 6.3% - 15.0% (9.5%) Probability of default 1.4% Loss severity 37.4% Corporate and other debt securities $3 Market comparable Evaluated quote on same issuer/comparable bond 99.9% Residential mortgage servicing rights (1) $257 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.9% - 22.4% (12.0%) Option-adjusted spread (percentage) 7.7% - 11.3% (9.0%) Derivative assets: Interest rate options $8 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.9% - 22.4% (12.0%) Option-adjusted spread (percentage) 7.7% - 11.3% (9.0%) Pull-through 7.3% - 99.1% (87.8%) Nonrecurring fair value measurements: Loans held for sale $33 Commercial loans held for sale are valued based on multiple data points, including discount to appraised value of collateral based on recent market activity for sales of similar loans Appraisal comparability adjustment (discount) 8.3% - 90.9% (53.3%) Foreclosed property and other real estate $8 Property in foreclosure is valued by discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 3.7% - 73.0% (29.6%) _________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2014 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. RECURRING FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS Securities available for sale Mortgage-backed securities: residential non-agency —The fair value reported in this category relates to retained interests in legacy securitizations. Significant unobservable inputs include the spread to LIBOR, constant prepayment rate, probability of default, and loss severity in the event of default. Significant increases in any of these inputs in isolation would result in significantly lower fair value measurement. Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumption used for loss severity and a directionally opposite change in the assumption used for prepayment rates. Corporate and other debt securities —Significant unobservable inputs include evaluated quotes on comparable bonds for the same issuer and management-determined comparability adjustments. Changes in the evaluated quote on comparable bonds would result in a directionally similar change in the fair value of the other debt securities. Residential mortgage servicing rights The significant unobservable inputs used in the fair value measurement of residential mortgage servicing rights ("MSR") are option adjusted spreads (“OAS”) and prepayment speed. This method requires generating cash flow projections over multiple interest rate scenarios and discounting those cash flows at a risk adjusted rate. Additionally, the impact of prepayments and changes in the OAS are based on a variety of underlying inputs such as servicing costs. Increases or decreases to the underlying cash flow inputs will have a corresponding impact on the value of the MSR asset. The net change in unrealized gains (losses) included in earnings related to MSRs held at period end are disclosed as the changes in valuation inputs or assumptions included in the MSR rollforward table in Note 5. See Note 5 for these amounts and additional disclosures related to assumptions used in the fair value calculation for MSRs. Derivative assets Residential mortgage interest rate options —These instruments are interest rate lock agreements made in the normal course of originating residential mortgage loans. Significant unobservable inputs in the fair value measurement are OAS, prepayment speeds, and pull-through. The impact of OAS and prepayment speed inputs in the valuation of these derivative instruments are consistent with the MSR discussion above. Pull-through is an estimate of the number of interest rate lock commitments that will ultimately become funded loans. Increases or decreases in the pull-through assumption will have a corresponding impact on the value of these derivative assets. Commercial mortgage interest rate options —These instruments are interest rate lock agreements made in the normal course of originating commercial mortgage loans. The significant unobservable input in the fair value measurement using discounted cash flows is the internal rates of return. The Company's internal rates of return are compared against those of market competitors, and should those rates change the Company's rates would also change in a similar direction. NON-RECURRING FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS Loans held for sale Commercial loans held for sale are valued based on multiple data points indicating the fair value for each loan. The primary data point for loans held for sale is a discount to the appraised value of the underlying collateral, which considers the return required by potential buyers of the loans. Management establishes this discount or comparability adjustment based on recent sales of loans secured by similar property types. As liquidity in the market increases or decreases, the comparability adjustment and the resulting asset valuation are impacted. Foreclosed property and other real estate Property in foreclosure is valued based on offered quotes as available. If no sales contract is pending for a specific property, management establishes a comparability adjustment to the appraised value based on historical activity considering proceeds for properties sold versus the corresponding appraised value. Increases or decreases in realization for properties sold impact the comparability adjustment for similar assets remaining on the balance sheet. Bank owned property available for sale is valued based on estimated third-party valuations utilizing recent sales data from similar transactions. A broker's opinion of value ("BOV") is obtained to further support the asset valuations. Updated valuations along with actual sales results of similar properties can further impact these values. FAIR VALUE OPTION Regions has elected the fair value option for all FNMA and FHLMC eligible residential mortgage loans originated with the intent to sell. These elections allow for a more effective offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. Regions has not elected the fair value option for other loans held for sale primarily because they are not economically hedged using derivative instruments. Fair values of mortgage loans held for sale are based on traded market prices of similar assets where available and/or discounted cash flows at market interest rates, adjusted for securitization activities that include servicing values and market conditions, and are recorded in loans held for sale in the consolidated balance sheets. The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value: June 30, 2015 December 31, 2014 Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Less Aggregate Unpaid Principal Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Less Aggregate Unpaid Principal (In millions) Mortgage loans held for sale, at fair value $ 466 $ 455 $ 11 $ 440 $ 421 $ 19 Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of income. The following table details net gains resulting from changes in fair value of these loans which were recorded in mortgage income in the consolidated statements of income during the three and six months ended June 30, 2015 and 2014 , respectively. These changes in fair value are mostly offset by economic hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk. Mortgage loans held for sale, at fair value Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Net gains (losses) resulting from changes in fair value $ (4 ) $ 11 $ (8 ) $ 17 The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2015 are as follows: June 30, 2015 Carrying Amount Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 3,755 $ 3,755 $ 3,755 $ — $ — Trading account securities 110 110 110 — — Securities held to maturity 2,067 2,093 1 2,092 — Securities available for sale 22,672 22,672 405 22,258 9 Loans held for sale 511 511 — 466 45 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 77,186 74,140 — — 74,140 Other interest-earning assets 70 70 — 70 — Derivative assets 758 758 — 743 15 Financial liabilities: Derivative liabilities 742 742 — 742 — Deposits 97,075 97,051 — 97,051 — Short-term borrowings 1,846 1,846 — 1,846 — Long-term borrowings 3,602 4,179 — 3,241 938 Loan commitments and letters of credit 104 468 — — 468 Indemnification obligation 203 185 — — 185 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at June 30, 2015 was $3.0 billion or 4.0 percent. (3) Excluded from this table is the lease carrying amount of $1.8 billion at June 30, 2015 . The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2014 are as follows: December 31, 2014 Carrying Amount Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 4,004 $ 4,004 $ 4,004 $ — $ — Trading account securities 106 106 106 — — Securities held to maturity 2,175 2,209 1 2,208 — Securities available for sale 22,580 22,580 322 22,247 11 Loans held for sale 541 541 — 440 101 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 74,482 70,114 — — 70,114 Other interest-earning assets 89 89 — 89 — Derivative assets 1,215 1,215 — 1,207 8 Financial liabilities: Derivative liabilities 1,254 1,254 — 1,254 — Deposits 94,200 94,186 — 94,186 — Short-term borrowings 2,253 2,253 — 2,253 — Long-term borrowings 3,462 3,871 — 3,504 367 Loan commitments and letters of credit 106 539 — — 539 Indemnification obligation 206 198 — — 198 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at December 31, 2014 was $4.4 billion or 5.9 percent. (3) Excluded from this table is the lease carrying amount of $1.7 billion at December 31, 2014 . |
Business Segment Information
Business Segment Information | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION Each of Regions’ reportable segments is a strategic business unit that serves specific needs of Regions’ customers based on the products and services provided. The segments are based on the manner in which management views the financial performance of the business. The Company has three reportable segments: Corporate Bank, Consumer Bank, and Wealth Management, with the remainder split between Discontinued Operations and Other. During the fourth quarter of 2014, Regions reorganized its internal management structure and, accordingly, its segment reporting structure. Previously, Regions’ three operating segments were Business Services, Consumer Services, and Wealth Management. Under the organizational realignment, Regions has created a Consumer Bank, which consists principally of the previous Consumer Services segment with businesses that serve retail and small business banking customers, and a Corporate Bank, which consists principally of the previous Business Services segment with businesses that serve middle-market and large commercial clients. Previously, small business banking was located within Business Services, but now resides in the Consumer Bank as its product set is more consistent with those offered in that segment. The Wealth Management segment remained unchanged during the reorganization. Segment results for all periods presented have been recast to reflect this organizational realignment. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable segment may be periodically revised. The following tables present financial information for each reportable segment for the period indicated. Three Months Ended June 30, 2015 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 282 $ 609 $ 41 $ (112 ) $ 820 $ — $ 820 Provision (credit) for loan losses (5 ) 49 2 17 63 — 63 Non-interest income 98 286 98 108 590 — 590 Non-interest expense 154 615 104 61 934 6 940 Income (loss) before income taxes 231 231 33 (82 ) 413 (6 ) 407 Income tax expense (benefit) 88 88 12 (64 ) 124 (2 ) 122 Net income (loss) $ 143 $ 143 $ 21 $ (18 ) $ 289 $ (4 ) $ 285 Average assets $ 45,884 $ 38,173 $ 2,889 $ 33,929 $ 120,875 $ — $ 120,875 Three Months Ended June 30, 2014 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 288 $ 616 $ 44 $ (125 ) $ 823 $ — $ 823 Provision (credit) for loan losses — 67 — (32 ) 35 — 35 Non-interest income 73 285 91 26 475 — 475 Non-interest expense 132 583 100 5 820 (2 ) 818 Income (loss) before income taxes 229 251 35 (72 ) 443 2 445 Income tax expense (benefit) 87 96 14 (49 ) 148 1 149 Net income (loss) $ 142 $ 155 $ 21 $ (23 ) $ 295 $ 1 $ 296 Average assets $ 43,745 $ 38,266 $ 2,971 $ 32,899 $ 117,881 $ — $ 117,881 Six Months Ended June 30, 2015 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 562 $ 1,209 $ 83 $ (219 ) $ 1,635 $ — $ 1,635 Provision (credit) for loan losses (6 ) 101 5 12 112 — 112 Non-interest income 188 551 198 123 1,060 — 1,060 Non-interest expense 307 1,204 209 119 1,839 10 1,849 Income (loss) before income taxes 449 455 67 (227 ) 744 (10 ) 734 Income tax expense (benefit) 171 173 25 (150 ) 219 (4 ) 215 Net income (loss) $ 278 $ 282 $ 42 $ (77 ) $ 525 $ (6 ) $ 519 Average assets $ 45,520 $ 38,083 $ 2,901 $ 34,218 $ 120,722 $ — $ 120,722 Six Months Ended June 30, 2014 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 570 $ 1,227 $ 89 $ (247 ) $ 1,639 $ — $ 1,639 Provision (credit) for loan losses 1 147 1 (112 ) 37 — 37 Non-interest income 149 561 183 39 932 — 932 Non-interest expense 267 1,146 200 24 1,637 (21 ) 1,616 Income (loss) before income taxes 451 495 71 (120 ) 897 21 918 Income tax expense (benefit) 172 188 27 (88 ) 299 8 307 Net income $ 279 $ 307 $ 44 $ (32 ) $ 598 $ 13 $ 611 Average assets $ 43,134 $ 38,496 $ 2,965 $ 33,205 $ 117,800 $ — $ 117,800 |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | COMMITMENTS, CONTINGENCIES AND GUARANTEES COMMERCIAL COMMITMENTS Regions issues off-balance sheet financial instruments in connection with lending activities. The credit risk associated with these instruments is essentially the same as that involved in extending loans to customers and is subject to Regions’ normal credit approval policies and procedures. Regions measures inherent risk associated with these instruments by recording a reserve for unfunded commitments based on an assessment of the likelihood that the guarantee will be funded and the creditworthiness of the customer or counterparty. Collateral is obtained based on management’s assessment of the creditworthiness of the customer. Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table: June 30, 2015 December 31, 2014 (In millions) Unused commitments to extend credit $ 45,142 $ 43,724 Standby letters of credit 1,545 1,697 Commercial letters of credit 63 71 Liabilities associated with standby letters of credit 39 40 Assets associated with standby letters of credit 39 40 Reserve for unfunded credit commitments 64 65 Unused commitments to extend credit —To accommodate the financial needs of its customers, Regions makes commitments under various terms to lend funds to consumers, businesses and other entities. These commitments include (among others) credit card and other revolving credit agreements, term loan commitments and short-term borrowing agreements. Many of these loan commitments have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of these commitments are expected to expire without being funded, the total commitment amounts do not necessarily represent future liquidity requirements. Standby letters of credit —Standby letters of credit are also issued to customers, which commit Regions to make payments on behalf of customers if certain specified future events occur. Regions has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. Historically, a large percentage of standby letters of credit expire without being funded. The contractual amount of standby letters of credit represents the maximum potential amount of future payments Regions could be required to make and represents Regions’ maximum credit risk. Commercial letters of credit —Commercial letters of credit are issued to facilitate foreign or domestic trade transactions for customers. As a general rule, drafts will be drawn when the goods underlying the transaction are in transit. LEGAL CONTINGENCIES Regions, its affiliates and subsidiaries, and current and former officers, directors and employees, are sometimes collectively referred to as Regions and certain Related Persons. Regions and its subsidiaries are subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. Regions evaluates these contingencies based on information currently available, including advice of counsel. Regions establishes accruals for those matters when a loss contingency is considered probable and the related amount is reasonably estimable. Any accruals are periodically reviewed and may be adjusted as circumstances change. Some of Regions' exposure with respect to loss contingencies may be offset by applicable insurance coverage. In determining the amounts of any accruals or estimates of possible loss contingencies however, Regions does not take into account the availability of insurance coverage. To the extent that Regions has an insurance recovery, the proceeds are recorded in the period the recovery is received. In addition, as previously discussed, Regions has agreed to indemnify Raymond James for all legal matters resulting from pre-closing activities in conjunction with the sale of Morgan Keegan and recorded an indemnification obligation at fair value in the second quarter of 2012. The indemnification obligation had a carrying amount of approximately $203 million and an estimated fair value of approximately $185 million as of June 30, 2015 (see Note 13). When it is practicable, Regions estimates possible loss contingencies, whether or not there is an accrued probable loss. When Regions is able to estimate such possible losses, and when it is reasonably possible Regions could incur losses in excess of amounts accrued, Regions is required to make a disclosure of the aggregate estimation. Regions currently estimates that it is reasonably possible that it may experience losses in excess of what Regions has accrued in an aggregate amount up to approximately $ 40 million as of June 30, 2015 , with it also being reasonably possible that Regions could incur no losses in excess of amounts accrued. However, as available information changes, the matters for which Regions is able to estimate, as well as the estimates themselves will be adjusted accordingly. The reasonably possible estimate includes legal contingencies that are subject to the indemnification agreement with Raymond James. Assessments of litigation and claims exposure are difficult because they involve inherently unpredictable factors including, but not limited to, the following: whether the proceeding is in the early stages; whether damages are unspecified, unsupported, or uncertain; whether there is a potential for punitive or other pecuniary damages; whether the matter involves legal uncertainties, including novel issues of law; whether the matter involves multiple parties and/or jurisdictions; whether discovery has begun or is not complete; whether meaningful settlement discussions have commenced; and whether the lawsuit involves class allegations. Assessments of class action litigation, which is generally more complex than other types of litigation, are particularly difficult, especially in the early stages of the proceeding when it is not known if a class will be certified or how a potential class, if certified, will be defined. As a result, Regions may be unable to estimate reasonably possible losses with respect to some of the matters disclosed below, and the aggregated estimated amount provided above may not include an estimate for every matter disclosed below. Beginning in December 2007, Regions and certain of its affiliates were named in class-action lawsuits filed in federal and state courts on behalf of investors who purchased shares of certain Regions Morgan Keegan Select Funds (the “Funds”) and stockholders of Regions. These class-action lawsuits have all been resolved among the parties. Court approvals for settlements in the open-end Funds class action and for the investors represented by the Trustee Ad Litem are being sought. Certain of the shareholders in these Funds and other interested parties have entered into arbitration proceedings and individual civil claims, in lieu of participating in the class actions. These lawsuits and proceedings are subject to the indemnification agreement with Raymond James discussed above. In July 2006, Morgan Keegan and a former Morgan Keegan analyst were named as defendants in a lawsuit filed by a Canadian insurance and financial services company and its American subsidiary in the Circuit Court of Morris County, New Jersey. Plaintiffs alleged claims under a civil Racketeer Influenced and Corrupt Organizations (“RICO”) statute and claims for commercial disparagement, tortious interference with contractual relationships, tortious interference with prospective economic advantage and common law conspiracy. Plaintiffs allege that defendants engaged in a multi-year conspiracy to publish and disseminate false and defamatory information about plaintiffs to improperly drive down plaintiffs’ stock price, so that others could profit from short positions. Plaintiffs allege that defendants’ actions damaged their reputations and harmed their business relationships. Plaintiffs seek monetary damages for a number of categories of alleged damages, including lost insurance business, lost financings and increased financing costs, increased audit fees and directors and officers insurance premiums and lost acquisitions. In September 2012, the trial court dismissed the case with prejudice. Plaintiffs have filed an appeal. This matter is subject to the indemnification agreement with Raymond James. The Securities and Exchange Commission ("SEC") and states of Missouri and Texas are investigating alleged securities law violations by Morgan Keegan in the underwriting and sale of $39 million in municipal bonds. An enforcement action brought by the Missouri Secretary of State in April 2013, seeking monetary penalties and other relief, was dismissed and refiled in November 2013. A civil action was brought against Morgan Keegan and others by institutional investors of the bonds in March 2012, seeking a return of their investment and unspecified compensatory and punitive damages. Trial of this case is currently set for November 2015 in the Circuit Court for Cole County, Missouri. A class action was brought on behalf of retail purchasers of the bonds in September 2012, seeking unspecified compensatory and punitive damages. The parties agreed to settlement terms in January 2015 and are awaiting final approval of the settlement by the Court. Investors who opted out of the class action have arbitration claims or separate civil claims pending in various stages. These matters are subject to the indemnification agreement with Raymond James. In October 2010, a class-action lawsuit was filed by Regions’ stockholders in the U.S. District Court for the Northern District of Alabama (the “District Court”) against Regions and certain former officers of Regions (the "2010 Claim"). In May 2015, Regions entered into a settlement agreement to settle the 2010 Claim for $90 million , all of which had been previously reserved. The settlement agreement was preliminarily approved by the court on May 27, 2015, and Regions was subsequently reimbursed in full by its insurance providers. As a result, a $90 million recovery was recognized during the second quarter of 2015. A hearing for final approval of the settlement is scheduled for September 2015. Regions is involved in formal and informal information-gathering requests, investigations, reviews, examinations and proceedings by various governmental regulatory agencies, law enforcement authorities and self-regulatory bodies regarding Regions’ business, Regions' business practices and policies and the conduct of persons with whom Regions does business. Additional inquiries will arise from time to time. In connection with those inquiries, Regions receives document requests, subpoenas and other requests for information. The inquiries, including those described below, could develop into administrative, civil or criminal proceedings or enforcement actions that could result in consequences that have a material effect on Regions' consolidated financial position, results of operations or cash flows as a whole. Such consequences could include adverse judgments, findings, settlements, penalties, fines, orders, injunctions, restitution, or alterations in our business practices, and could result in additional expenses and collateral costs, including reputational damage. In 2013, Regions received investigative requests from the Office of Inspector General of the Department of Housing and Urban Development regarding its residential mortgage loan origination, underwriting and quality control practices for Federal Housing Administration ("FHA") insured loans made by Regions. Regions continues to fully cooperate in this investigation. More recently, in September 2014, Regions received an investigative request from the Office of Inspector General of the Federal Housing Finance Agency ("FHFA") regarding its residential mortgage loan origination, underwriting and quality control practices for loans Regions sold to Fannie Mae and Freddie Mac. The FHFA matter is still in the early stages of investigation. These inquiries are part of industry-wide investigations, and Regions is cooperating with the inquiries. Many institutions have settled these matters on terms that included large monetary penalties, including, in some cases, civil money penalties under applicable banking laws. The Company cannot predict the ultimate outcome of the investigations concerning its practices, however it is possible that these investigations could result in the payment of a monetary penalty which may adversely affect results of operations. While the final outcome of litigation and claims exposures or of any inquiries is inherently unpredictable, management is currently of the opinion that the outcome of pending and threatened litigation and inquiries will not have a material effect on Regions’ business, consolidated financial position, results of operations or cash flows as a whole. However, in the event of unexpected future developments, it is reasonably possible that an adverse outcome in any of the matters discussed above could be material to Regions’ business, consolidated financial position, results of operations or cash flows for any particular reporting period of occurrence. GUARANTEES INDEMNIFICATION OBLIGATION As discussed in Note 2, on April 2, 2012 (“Closing Date”), Regions closed the sale of Morgan Keegan and related affiliates to Raymond James. In connection with the sale, Regions agreed to indemnify Raymond James for all legal matters related to pre-closing activities, including matters filed subsequent to the Closing Date that relate to actions that occurred prior to closing. Losses under the indemnification include legal and other expenses, such as costs for judgments, settlements and awards associated with the defense and resolution of the indemnified matters. The maximum potential amount of future payments that Regions could be required to make under the indemnification is indeterminable due to the indefinite term of some of the obligations. However, Regions expects the majority of ongoing legal matters related to the indemnification to be resolved within approximately one to two years. As of the Closing Date, the fair value of the indemnification obligation, which includes defense costs and unasserted claims, was approximately $385 million , of which approximately $256 million was recognized as a reduction to the gain on sale of Morgan Keegan. The fair value was determined through the use of a present value calculation that takes into account the future cash flows that a market participant would expect to receive from holding the indemnification liability as an asset. Regions performed a probability-weighted cash flow analysis and discounted the result at a credit-adjusted risk free rate. The fair value of the indemnification liability includes amounts that Regions had previously determined meet the definition of probable and reasonably estimable. Adjustments to the indemnification obligation are recorded within professional and legal expenses within discontinued operations (see Note 2). As of June 30, 2015 , the carrying value of the indemnification obligation was approximately $203 million . VISA INDEMNIFICATION As a member of the Visa USA network, Regions, along with other members, indemnified Visa USA against litigation. On October 3, 2007, Visa USA was restructured and acquired several Visa affiliates. In conjunction with this restructuring, Regions' indemnification of Visa USA was modified to cover specific litigation (“covered litigation”). A portion of Visa's proceeds from its initial public offering ("IPO") was put into escrow to fund the covered litigation. To the extent that the amount available under the escrow arrangement, or subsequent fundings of the escrow account resulting from reductions in the class B share conversion ratio, is insufficient to fully resolve the covered litigation, Visa will enforce the indemnification obligations of Visa USA's members for any excess amount. At this time, Regions has concluded that it is not probable that covered litigation exposure will exceed the class B share value. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS In January 2014, the FASB issued new accounting guidance related to the accounting for investments in qualified affordable housing projects. The guidance allows the holder of these investments to apply a proportional amortization method, which recognizes the amortized cost of the investment as a component of income tax expense, provided that the investment meets certain criteria. The guidance is silent regarding balance sheet classification. Regions believes it would not be appropriate to classify the investment as a deferred tax asset. The decision to apply the proportional amortization method is an accounting policy election. Entities may also elect to continue to account for these investments using the equity method. The guidance became effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 and was adopted by Regions for financial reporting beginning with the first quarter of 2015. The adoption is required to be applied retrospectively to all prior periods presented. The cumulative effect to retained earnings (deficit) as of January 1, 2015 of adopting this guidance was reduction of $116 million . Refer to Note 1 for additional information. In January 2014, the FASB issued new accounting guidance regarding the reclassification of residential real estate collateralized consumer mortgage loans upon foreclosures. The guidance requires reclassification of a consumer mortgage loan to other real estate owned upon obtaining legal title to the residential property, which could occur either through foreclosure or through a deed in lieu of foreclosure or similar legal agreement. The existence of a borrower redemption right will not prevent the lender from reclassifying a loan to other real estate once the lender obtains legal title to the property. In addition, entities are required to disclose the amount of foreclosed residential real estate properties and the recorded investment in residential real estate mortgage loans in the process of foreclosure on both an interim and annual basis. This guidance became effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014 and was adopted by Regions on a prospective basis with the first quarter of 2015 reporting. This guidance did not have a material impact upon adoption. In June 2014, the FASB issued new accounting guidance that requires two accounting changes related to the transfer and servicing of repurchase agreements and similar transactions. First, the amendments in the update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting treatment for the repurchase agreement. The amendments in the update also require certain disclosures for transfers of financial assets and repurchase agreements. The disclosure of certain transactions accounted for as a sale is required to be presented for fiscal years and interim periods within those years beginning after December 15, 2014 and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowing is required to be presented for fiscal years beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The accounting changes were effective for fiscal years and interim periods within those years beginning after December 15, 2014 and were adopted by Regions with the first quarter 2015 reporting. This guidance did not have a material impact upon adoption. In August 2014, the FASB issued new accounting guidance regarding the classification and measurement of foreclosed mortgage loans that are guaranteed by the government (including loans guaranteed by the FHA and the VA). The guidance addresses diversity in practice by requiring creditors to derecognize the mortgage loan upon foreclosure and to recognize a separate other receivable if the following conditions are met: (a) the government guarantee of the loan is not separable from the loan before foreclosure; (b) upon foreclosure, the creditor has the intent to convey the real estate to the guarantor and to make a claim on the guarantee, and also has the ability to make a recovery under the claim; and (c) claim amounts based on the fair value of the property are fixed upon foreclosure. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This guidance became effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014 and was adopted by Regions on a prospective basis with the first quarter of 2015 reporting. This guidance did not have a material impact upon adoption. In August 2014, the FASB issued new accounting guidance to offer a measurement alternative for reporting entities that consolidate a collateralized financing entity ("CFE") in which the financial assets and financial liabilities are measured at fair value, with changes in fair values reflected in earnings. Under the measurement alternative, the reporting entity could elect to measure both the CFE’s financial assets and financial liabilities using the fair value of either the CFE’s financial assets or financial liabilities, whichever is more observable. This guidance became effective for the first quarter of 2015 financial reporting period. This guidance did not have a material impact upon adoption. In February 2015, the FASB issued new accounting guidance that eliminates the consolidation model created specifically for limited partnerships and creates a single model for evaluating consolidation of legal entities. The new guidance does the following: (a) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (b) eliminates the presumption that a general partner should consolidate a limited partnership; (c) modifies the consolidation analysis for all reporting entities associated with VIEs, particularly those that have fee arrangements and related party relationships; and (d) provides a scope exception from the consolidation guidance for reporting entities with interests in legal entities that are similar to investment companies as defined in the Investment Company Act of 1940. The guidance is effective for annual and interim periods beginning after December 15, 2015. Early adoption is permitted. Regions believes the adoption of this guidance will not have a material impact to its consolidated financial statements. In April 2015, the FASB issued new accounting guidance that requires entities to present debt issuance costs related to a recognized liability as a direct deduction from the carrying amount of the debt liability. The new guidance is similar to existing presentation requirements for debt discounts and does not affect entities’ recognition and measurement of debt issuance costs. Previously, entities were required to present debt issuance costs as deferred charges in the asset section of the statement of financial position. The guidance is effective for annual and interim periods beginning after December 15, 2015. All entities must apply the guidance on a retrospective basis and provide the required disclosures for a change in accounting principle in the period of adoption. Early adoption is permitted. Regions believes the adoption of this guidance will not have a material impact to its consolidated financial statements. In April 2015, the FASB issued new accounting guidance on the accounting for fees paid in a cloud computing arrangement. The standard provides guidance on how customers should evaluate whether such arrangements contain a software license that should be accounted for separately. A customer that determines a cloud computing arrangement contains a software license must account for the license consistently with the acquisition of other software licenses. If an arrangement does not contain a software license, the customer is required to account for it as a service contract. As a result, all software licenses within the scope of this guidance will be accounted for consistently with other licenses of intangible assets. The guidance is effective for annual and interim periods beginning after December 15, 2015. Entities can elect to apply the guidance either retrospectively or prospectively to all cloud computing arrangements entered into or materially modified after the effective date. Early adoption is permitted. Regions believes the adoption of this guidance will not have a material impact to its consolidated financial statements. In May 2015, the FASB issued new accounting guidance that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient pursuant to previous guidance. The guidance is effective for annual and interim periods beginning after December 15, 2015. All entities must apply the guidance on a retrospective basis. Early adoption is permitted. Regions believes the adoption of this guidance will not have a material impact to its consolidated financial statements. Further information related to recent accounting pronouncements and accounting changes adopted by Regions prior to the second quarter of 2015 is included in the Annual Report on Form 10-K for the year ended December 31, 2014 . |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | The following table represents the condensed results of operations for discontinued operations: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions, except per share data) Non-interest expense: Professional and legal expenses $ 5 $ (3 ) $ 9 $ (22 ) Other 1 1 1 1 Total non-interest expense 6 (2 ) 10 (21 ) Income (loss) from discontinued operations before income taxes (6 ) 2 (10 ) 21 Income tax expense (benefit) (2 ) 1 (4 ) 8 Income (loss) from discontinued operations, net of tax $ (4 ) $ 1 $ (6 ) $ 13 Earnings (loss) per common share from discontinued operations: Basic $ (0.00 ) $ 0.00 $ (0.00 ) $ 0.01 Diluted $ (0.00 ) $ 0.00 $ (0.00 ) $ 0.01 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity | The amortized cost, gross unrealized gains and losses, and estimated fair value of securities held to maturity and securities available for sale are as follows: June 30, 2015 Recognized in OCI (1) Not recognized in OCI Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In millions) Securities held to maturity: U.S. Treasury securities $ 1 $ — $ — $ 1 $ — $ — $ 1 Federal agency securities 350 — (11 ) 339 8 — 347 Mortgage-backed securities: Residential agency 1,597 — (67 ) 1,530 22 (2 ) 1,550 Commercial agency 202 — (5 ) 197 — (2 ) 195 $ 2,150 $ — $ (83 ) $ 2,067 $ 30 $ (4 ) $ 2,093 Securities available for sale: U.S. Treasury securities $ 180 $ 1 $ — $ 181 $ 181 Federal agency securities 225 3 — 228 228 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 15,793 225 (76 ) 15,942 15,942 Residential non-agency 6 — — 6 6 Commercial agency 2,167 17 (8 ) 2,176 2,176 Commercial non-agency 1,479 11 (9 ) 1,481 1,481 Corporate and other debt securities 1,823 20 (39 ) 1,804 1,804 Equity securities 841 11 — 852 852 $ 22,516 $ 288 $ (132 ) $ 22,672 $ 22,672 December 31, 2014 Recognized in OCI (1) Not recognized in OCI Amortized Gross Unrealized Gains Gross Unrealized Losses Carrying Value Gross Gross Estimated (In millions) Securities held to maturity: U.S. Treasury securities $ 1 $ — $ — $ 1 $ — $ — $ 1 Federal agency securities 350 — (12 ) 338 6 — 344 Mortgage-backed securities: Residential agency 1,698 — (71 ) 1,627 35 (1 ) 1,661 Commercial agency 216 — (7 ) 209 — (6 ) 203 $ 2,265 $ — $ (90 ) $ 2,175 $ 41 $ (7 ) $ 2,209 Securities available for sale: U.S. Treasury securities $ 176 $ — $ — $ 176 $ 176 Federal agency securities 233 2 — 235 235 Obligations of states and political subdivisions 2 — — 2 2 Mortgage-backed securities: Residential agency 15,788 283 (33 ) 16,038 16,038 Residential non-agency 7 1 — 8 8 Commercial agency 1,959 14 (9 ) 1,964 1,964 Commercial non-agency 1,489 14 (9 ) 1,494 1,494 Corporate and other debt securities 1,980 36 (26 ) 1,990 1,990 Equity securities 662 12 (1 ) 673 673 $ 22,296 $ 362 $ (78 ) $ 22,580 $ 22,580 _________ (1) The gross unrealized losses recognized in other comprehensive income (OCI) on held to maturity securities resulted from a transfer of available for sale securities to held to maturity in the second quarter of 2013. |
Schedule Of Amortized Cost Of Equity Securities Related To Federal Reserve Bank Stock And Federal Home Loan Bank Stock | Equity securities in the tables above included the following amortized cost related to Federal Reserve Bank stock and Federal Home Loan Bank (“FHLB”) stock. Shares in the Federal Reserve Bank and FHLB are accounted for at amortized cost, which approximates fair value. June 30, 2015 December 31, 2014 (In millions) Federal Reserve Bank $ 484 $ 488 Federal Home Loan Bank 144 39 |
Schedule Of Cost And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity By Contractual Maturity | The amortized cost and estimated fair value of securities available for sale and securities held to maturity at June 30, 2015 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair Value (In millions) Securities held to maturity: Due in one year or less $ — $ — Due after one year through five years 351 348 Due after five years through ten years — — Mortgage-backed securities: Residential agency 1,597 1,550 Commercial agency 202 195 $ 2,150 $ 2,093 Securities available for sale: Due in one year or less $ 101 $ 102 Due after one year through five years 830 839 Due after five years through ten years 1,007 992 Due after ten years 292 282 Mortgage-backed securities: Residential agency 15,793 15,942 Residential non-agency 6 6 Commercial agency 2,167 2,176 Commercial non-agency 1,479 1,481 Equity securities 841 852 $ 22,516 $ 22,672 |
Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale and Held to Maturity | The following tables present gross unrealized losses and the related estimated fair value of securities available for sale and held to maturity at June 30, 2015 and December 31, 2014 . For securities transferred to held to maturity from available for sale, the analysis in the tables below is comparing the securities' original amortized cost to its current estimated fair value. These securities are segregated between investments that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more. June 30, 2015 Less Than Twelve Months Twelve Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses (In millions) Securities held to maturity: Federal agency securities $ 149 $ (1 ) $ 198 $ (2 ) $ 347 $ (3 ) Mortgage-backed securities: Residential agency 346 (8 ) 1,203 (39 ) 1,549 (47 ) Commercial agency — — 195 (7 ) 195 (7 ) $ 495 $ (9 ) $ 1,596 $ (48 ) $ 2,091 $ (57 ) Securities available for sale: U.S. Treasury securities $ 7 $ — $ 8 $ — $ 15 $ — Federal agency securities — — 4 — 4 — Mortgage-backed securities: Residential agency 4,955 (57 ) 940 (19 ) 5,895 (76 ) Commercial agency 528 (6 ) 228 (2 ) 756 (8 ) Commercial non-agency 562 (6 ) 237 (3 ) 799 (9 ) All other securities 743 (21 ) 273 (18 ) 1,016 (39 ) $ 6,795 $ (90 ) $ 1,690 $ (42 ) $ 8,485 $ (132 ) December 31, 2014 Less Than Twelve Months Twelve Months or More Total Estimated Gross Estimated Gross Estimated Gross (In millions) Securities held to maturity: Federal agency securities $ — $ — $ 344 $ (6 ) $ 344 $ (6 ) Mortgage-backed securities: Residential agency — — 1,659 (37 ) 1,659 (37 ) Commercial agency — — 203 (13 ) 203 (13 ) $ — $ — $ 2,206 $ (56 ) $ 2,206 $ (56 ) Securities available for sale: U.S. Treasury securities $ 74 $ — $ 3 $ — $ 77 $ — Federal agency securities — — 3 — 3 — Mortgage-backed securities: Residential agency 1,178 (5 ) 2,587 (28 ) 3,765 (33 ) Commercial agency 464 (4 ) 316 (5 ) 780 (9 ) Commercial non-agency 242 (1 ) 500 (8 ) 742 (9 ) All other securities 400 (7 ) 455 (20 ) 855 (27 ) $ 2,358 $ (17 ) $ 3,864 $ (61 ) $ 6,222 $ (78 ) |
Schedule Of Gross Realized Gains And Gross Realized Losses On Available For Sale Securities | Gross realized gains and gross realized losses on sales of securities available for sale are shown in the table below. The cost of securities sold is based on the specific identification method. Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Gross realized gains $ 9 $ 13 $ 14 $ 16 Gross realized losses (3 ) (5 ) (3 ) (6 ) Other-than-temporary-impairment ("OTTI") — (2 ) — (2 ) Securities gains, net $ 6 $ 6 $ 11 $ 8 |
Loans and the Allowance for C28
Loans and the Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table presents the distribution of Regions' loan portfolio by segment and class, net of unearned income: June 30, 2015 December 31, 2014 (In millions, net of unearned income) Commercial and industrial $ 35,347 $ 32,732 Commercial real estate mortgage—owner-occupied 7,797 8,263 Commercial real estate construction—owner-occupied 448 407 Total commercial 43,592 41,402 Commercial investor real estate mortgage 4,509 4,680 Commercial investor real estate construction 2,419 2,133 Total investor real estate 6,928 6,813 Residential first mortgage 12,589 12,315 Home equity 10,899 10,932 Indirect—vehicles 3,782 3,642 Indirect—other consumer 383 206 Consumer credit card 992 1,009 Other consumer 984 988 Total consumer 29,629 29,092 $ 80,149 $ 77,307 |
Analysis of the Allowance for Credit Losses by Portfolio Segment | Three Months Ended June 30, 2015 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, April 1, 2015 $ 696 $ 125 $ 277 $ 1,098 Provision (credit) for loan losses 51 (3 ) 15 63 Loan losses: Charge-offs (25 ) (4 ) (57 ) (86 ) Recoveries 18 5 17 40 Net loan losses (7 ) 1 (40 ) (46 ) Allowance for loan losses, June 30, 2015 740 123 252 1,115 Reserve for unfunded credit commitments, April 1, 2015 58 8 — 66 Provision (credit) for unfunded credit losses 1 (3 ) — (2 ) Reserve for unfunded credit commitments, June 30, 2015 59 5 — 64 Allowance for credit losses, June 30, 2015 $ 799 $ 128 $ 252 $ 1,179 Three Months Ended June 30, 2014 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, April 1, 2014 $ 692 $ 208 $ 361 $ 1,261 Provision (credit) for loan losses 39 (18 ) 14 35 Loan losses: Charge-offs (40 ) (7 ) (63 ) (110 ) Recoveries 14 7 22 43 Net loan losses (26 ) — (41 ) (67 ) Allowance for loan losses, June 30, 2014 705 190 334 1,229 Reserve for unfunded credit commitments, April 1, 2014 63 11 4 78 Provision (credit) for unfunded credit losses 11 1 (1 ) 11 Reserve for unfunded credit commitments, June 30, 2014 74 12 3 89 Allowance for credit losses, June 30, 2014 $ 779 $ 202 $ 337 $ 1,318 Six Months Ended June 30, 2015 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, January 1, 2015 $ 654 $ 150 $ 299 $ 1,103 Provision (credit) for loan losses 110 (28 ) 30 112 Loan losses: Charge-offs (59 ) (12 ) (116 ) (187 ) Recoveries 35 13 39 87 Net loan losses (24 ) 1 (77 ) (100 ) Allowance for loan losses, June 30, 2015 740 123 252 1,115 Reserve for unfunded credit commitments, January 1, 2015 57 8 — 65 Provision (credit) for unfunded credit losses 2 (3 ) — (1 ) Reserve for unfunded credit commitments, June 30, 2015 59 5 — 64 Allowance for credit losses, June 30, 2015 $ 799 $ 128 $ 252 $ 1,179 Portion of ending allowance for loan losses: Individually evaluated for impairment $ 189 $ 42 $ 69 $ 300 Collectively evaluated for impairment 551 81 183 815 Total allowance for loan losses $ 740 $ 123 $ 252 $ 1,115 Portion of loan portfolio ending balance: Individually evaluated for impairment $ 722 $ 264 $ 845 $ 1,831 Collectively evaluated for impairment 42,870 6,664 28,784 78,318 Total loans evaluated for impairment $ 43,592 $ 6,928 $ 29,629 $ 80,149 Six Months Ended June 30, 2014 Commercial Investor Real Estate Consumer Total (In millions) Allowance for loan losses, January 1, 2014 $ 711 $ 236 $ 394 $ 1,341 Provision (credit) for loan losses 44 (45 ) 38 37 Loan losses: Charge-offs (81 ) (16 ) (137 ) (234 ) Recoveries 31 15 39 85 Net loan losses (50 ) (1 ) (98 ) (149 ) Allowance for loan losses, June 30, 2014 705 190 334 1,229 Reserve for unfunded credit commitments, January 1, 2014 63 12 3 78 Provision (credit) for unfunded credit losses 11 — — 11 Reserve for unfunded credit commitments, June 30, 2014 74 12 3 89 Allowance for credit losses, June 30, 2014 $ 779 $ 202 $ 337 $ 1,318 Portion of ending allowance for loan losses: Individually evaluated for impairment $ 212 $ 92 $ 82 $ 386 Collectively evaluated for impairment 493 98 252 843 Total allowance for loan losses $ 705 $ 190 $ 334 $ 1,229 Portion of loan portfolio ending balance: Individually evaluated for impairment $ 846 $ 523 $ 858 $ 2,227 Collectively evaluated for impairment 39,898 6,450 27,938 74,286 Total loans evaluated for impairment $ 40,744 $ 6,973 $ 28,796 $ 76,513 |
Financing Receivable Credit Quality Indicators | June 30, 2015 Pass Special Mention Substandard Accrual Non-accrual Total (In millions) Commercial and industrial $ 33,741 $ 608 $ 701 $ 297 $ 35,347 Commercial real estate mortgage—owner-occupied 6,942 331 321 203 7,797 Commercial real estate construction—owner-occupied 413 20 11 4 448 Total commercial $ 41,096 $ 959 $ 1,033 $ 504 $ 43,592 Commercial investor real estate mortgage $ 4,119 $ 173 $ 154 $ 63 $ 4,509 Commercial investor real estate construction 2,355 31 31 2 2,419 Total investor real estate $ 6,474 $ 204 $ 185 $ 65 $ 6,928 Accrual Non-accrual Total (In millions) Residential first mortgage $ 12,503 $ 86 $ 12,589 Home equity 10,803 96 10,899 Indirect—vehicles 3,782 — 3,782 Indirect—other consumer 383 — 383 Consumer credit card 992 — 992 Other consumer 984 — 984 Total consumer $ 29,447 $ 182 $ 29,629 $ 80,149 December 31, 2014 Pass Special Mention Substandard Accrual Non-accrual Total (In millions) Commercial and industrial $ 31,492 $ 626 $ 362 $ 252 $ 32,732 Commercial real estate mortgage—owner-occupied 7,425 315 285 238 8,263 Commercial real estate construction—owner-occupied 387 9 8 3 407 Total commercial $ 39,304 $ 950 $ 655 $ 493 $ 41,402 Commercial investor real estate mortgage $ 4,152 $ 234 $ 171 $ 123 $ 4,680 Commercial investor real estate construction 2,060 22 49 2 2,133 Total investor real estate $ 6,212 $ 256 $ 220 $ 125 $ 6,813 Accrual Non-accrual Total (In millions) Residential first mortgage $ 12,206 $ 109 $ 12,315 Home equity 10,830 102 10,932 Indirect—vehicles 3,642 — 3,642 Indirect—other consumer 206 — 206 Consumer credit card 1,009 — 1,009 Other consumer 988 — 988 Total consumer $ 28,881 $ 211 $ 29,092 $ 77,307 |
Past Due Financing Receivables | The following tables include an aging analysis of days past due (DPD) for each portfolio segment and class as of June 30, 2015 and December 31, 2014 : June 30, 2015 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total 30+ DPD Total Accrual Non-accrual Total (In millions) Commercial and industrial $ 9 $ 14 $ 3 $ 26 $ 35,050 $ 297 $ 35,347 Commercial real estate mortgage—owner-occupied 32 6 2 40 7,594 203 7,797 Commercial real estate construction—owner-occupied — — — — 444 4 448 Total commercial 41 20 5 66 43,088 504 43,592 Commercial investor real estate mortgage 14 4 1 19 4,446 63 4,509 Commercial investor real estate construction — — — — 2,417 2 2,419 Total investor real estate 14 4 1 19 6,863 65 6,928 Residential first mortgage 91 56 212 359 12,503 86 12,589 Home equity 54 30 61 145 10,803 96 10,899 Indirect—vehicles 36 10 6 52 3,782 — 3,782 Indirect—other consumer 1 — — 1 383 — 383 Consumer credit card 6 4 11 21 992 — 992 Other consumer 11 3 4 18 984 — 984 Total consumer 199 103 294 596 29,447 182 29,629 $ 254 $ 127 $ 300 $ 681 $ 79,398 $ 751 $ 80,149 December 31, 2014 Accrual Loans 30-59 DPD 60-89 DPD 90+ DPD Total 30+ DPD Total Accrual Non-accrual Total (In millions) Commercial and industrial $ 16 $ 7 $ 7 $ 30 $ 32,480 $ 252 $ 32,732 Commercial real estate mortgage—owner-occupied 21 13 5 39 8,025 238 8,263 Commercial real estate construction—owner-occupied 1 — — 1 404 3 407 Total commercial 38 20 12 70 40,909 493 41,402 Commercial investor real estate mortgage 17 3 3 23 4,557 123 4,680 Commercial investor real estate construction — — — — 2,131 2 2,133 Total investor real estate 17 3 3 23 6,688 125 6,813 Residential first mortgage 99 64 247 410 12,206 109 12,315 Home equity 73 38 63 174 10,830 102 10,932 Indirect—vehicles 43 10 7 60 3,642 — 3,642 Indirect—other consumer — — — — 206 — 206 Consumer credit card 8 5 12 25 1,009 — 1,009 Other consumer 13 4 3 20 988 — 988 Total consumer 236 121 332 689 28,881 211 29,092 $ 291 $ 144 $ 347 $ 782 $ 76,478 $ 829 $ 77,307 |
Impaired Financing Receivables | The following tables present details related to the Company’s impaired loans as of June 30, 2015 and December 31, 2014 . Loans deemed to be impaired include all TDRs and all non-accrual commercial and investor real estate loans, excluding leases. Loans which have been fully charged-off do not appear in the tables below. Non-accrual Impaired Loans As of June 30, 2015 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans on Non-accrual Status Impaired Loans on Non-accrual Status with No Related Allowance Impaired Loans on Non-accrual Status with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 335 $ 39 $ 296 $ 64 $ 232 $ 94 39.7 % Commercial real estate mortgage—owner-occupied 221 18 203 37 166 60 35.3 Commercial real estate construction—owner-occupied 4 — 4 — 4 2 50.0 Total commercial 560 57 503 101 402 156 38.0 Commercial investor real estate mortgage 97 34 63 20 43 15 50.5 Commercial investor real estate construction 11 9 2 — 2 1 90.9 Total investor real estate 108 43 65 20 45 16 54.6 Residential first mortgage 65 21 44 — 44 6 41.5 Home equity 21 6 15 — 15 — 28.6 Total consumer 86 27 59 — 59 6 38.4 $ 754 $ 127 $ 627 $ 121 $ 506 $ 178 40.5 % Accruing Impaired Loans As of June 30, 2015 Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Book Value (3) Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 86 $ 2 $ 84 $ 15 19.8 % Commercial real estate mortgage—owner-occupied 144 10 134 18 19.4 Commercial real estate construction—owner-occupied 1 — 1 — — Total commercial 231 12 219 33 19.5 Commercial investor real estate mortgage 176 7 169 21 15.9 Commercial investor real estate construction 30 — 30 5 16.7 Total investor real estate 206 7 199 26 16.0 Residential first mortgage 439 12 427 55 15.3 Home equity 349 7 342 8 4.3 Indirect—vehicles 1 — 1 — — Consumer credit card 2 — 2 — — Other consumer 14 — 14 — — Total consumer 805 19 786 63 10.2 $ 1,242 $ 38 $ 1,204 $ 122 12.9 % Total Impaired Loans As of June 30, 2015 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans Impaired Loans with No Related Allowance Impaired Loans with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 421 $ 41 $ 380 $ 64 $ 316 $ 109 35.6 % Commercial real estate mortgage—owner-occupied 365 28 337 37 300 78 29.0 Commercial real estate construction—owner-occupied 5 — 5 — 5 2 40.0 Total commercial 791 69 722 101 621 189 32.6 Commercial investor real estate mortgage 273 41 232 20 212 36 28.2 Commercial investor real estate construction 41 9 32 — 32 6 36.6 Total investor real estate 314 50 264 20 244 42 29.3 Residential first mortgage 504 33 471 — 471 61 18.7 Home equity 370 13 357 — 357 8 5.7 Indirect—vehicles 1 — 1 — 1 — — Consumer credit card 2 — 2 — 2 — — Other consumer 14 — 14 — 14 — — Total consumer 891 46 845 — 845 69 12.9 $ 1,996 $ 165 $ 1,831 $ 121 $ 1,710 $ 300 23.3 % _________ (1) Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. (2) Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. (3) Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. (4) Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. Non-accrual Impaired Loans As of December 31, 2014 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans on Non-accrual Status Impaired Loans on Non-accrual Status with No Related Allowance Impaired Loans on Non-accrual Status with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 286 $ 36 $ 250 $ 11 $ 239 $ 83 41.6 % Commercial real estate mortgage—owner-occupied 267 29 238 43 195 69 36.7 Commercial real estate construction—owner-occupied 3 — 3 — 3 1 33.3 Total commercial 556 65 491 54 437 153 39.2 Commercial investor real estate mortgage 162 39 123 26 97 30 42.6 Commercial investor real estate construction 3 1 2 — 2 1 66.7 Total investor real estate 165 40 125 26 99 31 43.0 Residential first mortgage 79 26 53 — 53 7 41.8 Home equity 22 7 15 — 15 1 36.4 Total consumer 101 33 68 — 68 8 40.6 $ 822 $ 138 $ 684 $ 80 $ 604 $ 192 40.1 % Accruing Impaired Loans As of December 31, 2014 Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Book Value (3) Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 102 $ 3 $ 99 $ 17 19.6 % Commercial real estate mortgage—owner-occupied 162 10 152 16 16.0 Total commercial 264 13 251 33 17.4 Commercial investor real estate mortgage 267 8 259 28 13.5 Commercial investor real estate construction 33 — 33 6 18.2 Total investor real estate 300 8 292 34 14.0 Residential first mortgage 426 11 415 57 16.0 Home equity 359 6 353 13 5.3 Indirect—vehicles 1 — 1 — — Consumer credit card 2 — 2 — — Other consumer 17 — 17 — — Total consumer 805 17 788 70 10.8 $ 1,369 $ 38 $ 1,331 $ 137 12.8 % Total Impaired Loans As of December 31, 2014 Book Value (3) Unpaid Principal Balance (1) Charge-offs and Payments Applied (2) Total Impaired Loans Impaired Loans with No Related Allowance Impaired Loans with Related Allowance Related Allowance for Loan Losses Coverage % (4) (Dollars in millions) Commercial and industrial $ 388 $ 39 $ 349 $ 11 $ 338 $ 100 35.8 % Commercial real estate mortgage—owner-occupied 429 39 390 43 347 85 28.9 Commercial real estate construction—owner-occupied 3 — 3 — 3 1 33.3 Total commercial 820 78 742 54 688 186 32.2 Commercial investor real estate mortgage 429 47 382 26 356 58 24.5 Commercial investor real estate construction 36 1 35 — 35 7 22.2 Total investor real estate 465 48 417 26 391 65 24.3 Residential first mortgage 505 37 468 — 468 64 20.0 Home equity 381 13 368 — 368 14 7.1 Indirect—vehicles 1 — 1 — 1 — — Consumer credit card 2 — 2 — 2 — — Other consumer 17 — 17 — 17 — — Total consumer 906 50 856 — 856 78 14.1 $ 2,191 $ 176 $ 2,015 $ 80 $ 1,935 $ 329 23.0 % ________ (1) Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. (2) Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. (3) Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. (4) Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. The following table presents the average balances of total impaired loans and interest income for the three and six months ended June 30, 2015 and 2014 . Interest income recognized represents interest on accruing loans modified in a TDR. TDRs are considered impaired loans. Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized (In millions) Commercial and industrial $ 398 $ 2 $ 382 $ 2 $ 378 $ 3 $ 424 $ 5 Commercial real estate mortgage—owner-occupied 348 2 499 3 364 5 505 7 Commercial real estate construction—owner-occupied 4 — 38 — 4 — 40 — Total commercial 750 4 919 5 746 8 969 12 Commercial investor real estate mortgage 257 3 529 6 294 6 575 14 Commercial investor real estate construction 32 — 74 1 32 1 80 2 Total investor real estate 289 3 603 7 326 7 655 16 Residential first mortgage 474 4 454 3 475 8 456 7 Home equity 358 4 383 5 360 9 385 10 Indirect—vehicles 1 — 1 — 1 — 1 — Consumer credit card 2 — 2 — 2 — 2 — Other consumer 15 — 22 1 15 — 23 1 Total consumer 850 8 862 9 853 17 867 18 Total impaired loans $ 1,889 $ 15 $ 2,384 $ 21 $ 1,925 $ 32 $ 2,491 $ 46 |
Troubled Debt Restructurings on Financing Receivables | The following tables present the end of period balance for loans modified in a TDR during the periods presented by portfolio segment and class, and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. The end of period balance, for the period in which it was added, of total loans first reported as new TDRs totaled approximately $154 million and $209 million for the six months ended June 30, 2015 and 2014 , respectively. Three Months Ended June 30, 2015 Financial Impact of Modifications Considered TDRs Number of Obligors Recorded Investment Increase in Allowance at Modification (Dollars in millions) Commercial and industrial 62 $ 45 $ 1 Commercial real estate mortgage—owner-occupied 61 37 1 Total commercial 123 82 2 Commercial investor real estate mortgage 31 15 — Commercial investor real estate construction 12 6 — Total investor real estate 43 21 — Residential first mortgage 96 20 3 Home equity 187 9 — Consumer credit card 41 1 — Indirect—vehicles and other consumer 109 1 — Total consumer 433 31 3 599 $ 134 $ 5 Three Months Ended June 30, 2014 Financial Impact of Modifications Considered TDRs Number of Obligors Recorded Investment Increase in Allowance at Modification (Dollars in millions) Commercial and industrial 58 $ 70 $ 2 Commercial real estate mortgage—owner-occupied 72 77 2 Commercial real estate construction—owner-occupied 2 2 — Total commercial 132 149 4 Commercial investor real estate mortgage 52 101 4 Commercial investor real estate construction 13 8 — Total investor real estate 65 109 4 Residential first mortgage 139 21 3 Home equity 185 10 — Consumer credit card 32 — — Indirect—vehicles and other consumer 66 1 — Total consumer 422 32 3 619 $ 290 $ 11 Six Months Ended June 30, 2015 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 103 $ 102 $ 2 Commercial real estate mortgage—owner-occupied 103 62 2 Total commercial 206 164 4 Commercial investor real estate mortgage 60 39 1 Commercial investor real estate construction 13 7 — Total investor real estate 73 46 1 Residential first mortgage 229 52 7 Home equity 312 15 — Consumer credit card 73 1 — Indirect—vehicles and other consumer 196 2 — Total consumer 810 70 7 1,089 $ 280 $ 12 Six Months Ended June 30, 2014 Financial Impact Number of Recorded Increase in (Dollars in millions) Commercial and industrial 149 $ 164 $ 2 Commercial real estate mortgage—owner-occupied 157 147 3 Commercial real estate construction—owner-occupied 3 3 — Total commercial 309 314 5 Commercial investor real estate mortgage 150 208 4 Commercial investor real estate construction 28 15 — Total investor real estate 178 223 4 Residential first mortgage 264 45 7 Home equity 339 20 — Consumer credit card 64 — — Indirect—vehicles and other consumer 117 2 — Total consumer 784 67 7 1,271 $ 604 $ 16 Defaulted TDRs The following table presents by portfolio segment and class TDRs that defaulted during the three and six months ended June 30, 2015 and 2014 , and that were modified in the previous twelve months (i.e., the twelve months prior to the default). For purposes of this disclosure, default is defined as 90 days past due and still accruing for the consumer portfolio segment, and placement on non-accrual status for the commercial and investor real estate portfolio segments. Consideration of defaults in the calculation of the allowance for loan losses is described in detail in the consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2014 . Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Defaulted During the Period, Where Modified in a TDR Twelve Months Prior to Default Commercial and industrial $ 3 $ 4 $ 4 $ 46 Commercial real estate mortgage—owner-occupied 2 4 3 7 Total commercial 5 8 7 53 Commercial investor real estate mortgage — 2 1 4 Commercial investor real estate construction — — — 1 Total investor real estate — 2 1 5 Residential first mortgage 5 3 8 12 Home equity 1 1 1 2 Total consumer 6 4 9 14 $ 11 $ 14 $ 17 $ 72 |
Servicing of Financial Assets (
Servicing of Financial Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Schedule of Servicing Rights Under The Fair Value Measurement Method | The table below presents an analysis of residential mortgage servicing rights under the fair value measurement method: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Carrying value, beginning of period $ 239 $ 288 $ 257 $ 297 Additions 12 7 19 15 Increase (decrease) in fair value (1) : Due to change in valuation inputs or assumptions 28 (10 ) 11 (20 ) Economic amortization associated with borrower repayments (11 ) (9 ) (19 ) (16 ) Carrying value, end of period $ 268 $ 276 $ 268 $ 276 ________ (1) "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Prior to the fourth quarter of 2014, this line item reflected total loan payoffs only, while partial paydowns were included in the "Due to change in valuation inputs or assumptions" line item. The 2014 three and six months ended amount disclosed in the table has been reclassified to reflect the revised presentation. |
Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Mortgage Servicing Rights | Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential mortgage servicing rights (excluding related derivative instruments) are as follows: June 30 2015 2014 (Dollars in millions) Unpaid principal balance $ 26,637 $ 27,261 Weighted-average prepayment speed (CPR; percentage) 10.0 % 10.4 % Estimated impact on fair value of a 10% increase $ (15 ) $ (14 ) Estimated impact on fair value of a 20% increase $ (27 ) $ (27 ) Option-adjusted spread (basis points) 998 888 Estimated impact on fair value of a 10% increase $ (11 ) $ (9 ) Estimated impact on fair value of a 20% increase $ (21 ) $ (18 ) Weighted-average coupon interest rate 4.4 % 4.5 % Weighted-average remaining maturity (months) 279 278 Weighted-average servicing fee (basis points) 27.8 27.8 |
Schedule Of Fees Resulting From The Servicing Of Residential Mortgage Loans | The following table presents servicing related fees, which includes contractually specified servicing fees, late fees and other ancillary income resulting from the servicing of residential mortgage loans: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Servicing related fees and other ancillary income $ 20 $ 22 $ 41 $ 43 |
Analysis Of Repurchase Liability Related To Residential Mortgage Loans Sold With Representations And Warranty Provisions | The table below presents an analysis of Regions’ repurchase liability related to residential mortgage loans sold with representations and warranty provisions: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Beginning balance $ 26 $ 39 $ 26 $ 39 Additions (reductions), net (5 ) (2 ) (4 ) 1 Losses (1 ) (3 ) (2 ) (6 ) Ending balance $ 20 $ 34 $ 20 $ 34 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | Goodwill allocated to each reportable segment (each a reporting unit) is presented as follows: June 30, 2015 December 31, 2014 (In millions) Corporate Bank $ 2,258 $ 2,258 Consumer Bank 2,095 2,095 Wealth Management 463 463 $ 4,816 $ 4,816 |
Stockholders' Equity and Accu31
Stockholders' Equity and Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Summary of the non-cumulative perpetual preferred stock | The following table presents a summary of the non-cumulative perpetual preferred stock: June 30, 2015 December 31, 2014 Issuance Date Earliest Redemption Date Dividend Rate Liquidation Amount Carrying Amount Carrying Amount (Dollars in millions) Series A 11/1/2012 12/15/2017 6.375 % $ 500 $ 403 $ 419 Series B 4/29/2014 9/15/2024 6.375 % (1) 500 449 465 $ 1,000 $ 852 $ 884 _________ (1) Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375% , and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536% . |
Schedule of Accumulated Other Comprehensive Income (Loss) | Activity within the balances in accumulated other comprehensive income (loss) is shown in the following tables: Three Months Ended June 30, 2015 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive income (loss), net of tax (In millions) Beginning of period $ (53 ) $ 252 $ 70 $ (384 ) $ (115 ) Net change 2 (156 ) (25 ) 7 (172 ) End of period $ (51 ) $ 96 $ 45 $ (377 ) $ (287 ) Three Months Ended June 30, 2014 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive income (loss), net of tax (In millions) Beginning of period $ (62 ) $ 56 $ 21 $ (244 ) $ (229 ) Net change 2 147 23 5 177 End of period $ (60 ) $ 203 $ 44 $ (239 ) $ (52 ) Six Months Ended June 30, 2015 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive (In millions) Beginning of period $ (55 ) $ 175 $ 33 $ (391 ) $ (238 ) Net change 4 (79 ) 12 14 (49 ) End of period $ (51 ) $ 96 $ 45 $ (377 ) $ (287 ) Six Months Ended June 30, 2014 Unrealized losses on securities transferred to held to maturity Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivative instruments designated as cash flow hedges Defined benefit pension plans and other post employment benefits Accumulated other comprehensive (In millions) Beginning of period $ (64 ) $ (22 ) $ 15 $ (248 ) $ (319 ) Net change 4 225 29 9 267 End of period $ (60 ) $ 203 $ 44 $ (239 ) $ (52 ) |
Reclassification From Accumulated Other Comprehensive Income (Loss) | The following tables present amounts reclassified out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Consolidated Statements of Income (In millions) Unrealized losses on securities transferred to held to maturity: $ (4 ) $ (4 ) Net interest income 2 2 Tax (expense) or benefit $ (2 ) $ (2 ) Net of tax Unrealized gains and (losses) on available-for-sale securities: $ 6 $ 6 Securities gains, net (2 ) (2 ) Tax (expense) or benefit $ 4 $ 4 Net of tax Gains and (losses) on cash flow hedges: Interest rate contracts $ 34 $ 29 Net interest income (13 ) (11 ) Tax (expense) or benefit $ 21 $ 18 Net of tax Amortization of defined benefit pension plans and other post employment benefits: Prior-service cost $ — $ (1 ) (2) Actuarial gains (losses) (12 ) (5 ) (2) (12 ) (6 ) Total before tax 5 2 Tax (expense) or benefit $ (7 ) $ (4 ) Net of tax Total reclassifications for the period $ 16 $ 16 Net of tax Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Consolidated Statements of Income (In millions) Unrealized losses on securities transferred to held to maturity: $ (7 ) $ (7 ) Net interest income 3 3 Tax (expense) or benefit $ (4 ) $ (4 ) Net of tax Unrealized gains and (losses) on available-for-sale securities: $ 11 $ 8 Securities gains, net (4 ) (3 ) Tax (expense) or benefit $ 7 $ 5 Net of tax Gains and (losses) on cash flow hedges: Interest rate contracts $ 67 $ 57 Net interest income (25 ) (22 ) Tax (expense) or benefit $ 42 $ 35 Net of tax Amortization of defined benefit pension items: Prior-service cost $ — $ (1 ) (2) Actuarial gains/(losses) (24 ) (11 ) (2) (24 ) (12 ) Total before tax 9 4 Tax (expense) or benefit $ (15 ) $ (8 ) Net of tax Total reclassifications for the period $ 30 $ 28 Net of tax ________ (1) Amounts in parentheses indicate reductions to net income. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost and are included in salaries and employee benefits on the consolidated statements of income (see Note 10 for additional details). |
Earnings (Loss) Per Common Sh32
Earnings (Loss) Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic earnings (loss) per common share and diluted earnings (loss) per common share: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions, except per share amounts) Numerator: Income from continuing operations $ 289 $ 295 $ 525 $ 598 Preferred stock dividends (16 ) (8 ) (32 ) (16 ) Income from continuing operations available to common shareholders 273 287 493 582 Income (loss) from discontinued operations, net of tax (4 ) 1 (6 ) 13 Net income available to common shareholders $ 269 $ 288 $ 487 $ 595 Denominator: Weighted-average common shares outstanding—basic 1,335 1,378 1,340 1,378 Potential common shares 11 12 12 12 Weighted-average common shares outstanding—diluted 1,346 1,390 1,352 1,390 Earnings per common share from continuing operations available to common shareholders (1) : Basic $ 0.20 $ 0.21 $ 0.37 $ 0.42 Diluted 0.20 0.21 0.36 0.42 Earnings (loss) per common share from discontinued operations (1) : Basic (0.00 ) 0.00 (0.00 ) 0.01 Diluted (0.00 ) 0.00 (0.00 ) 0.01 Earnings per common share (1) : Basic 0.20 0.21 0.36 0.43 Diluted 0.20 0.21 0.36 0.43 ________ (1) Certain per share amounts may not appear to reconcile due to rounding. |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the activity related to stock options: Six Months Ended June 30 2015 2014 Number of Options Weighted-Average Exercise Price Number of Options Weighted-Average Exercise Price Outstanding at beginning of period 25,316,676 $ 23.07 32,127,235 $ 22.81 Exercised (291,460 ) 6.96 (1,852,880 ) 4.11 Canceled/Forfeited (5,301,942 ) 31.95 (4,386,408 ) 30.48 Outstanding at end of period 19,723,274 $ 20.92 25,887,947 $ 22.85 Exercisable at end of period 19,723,274 $ 20.92 25,843,106 $ 22.87 |
Summary Of Activity Related To Restricted Stock Awards And Performance Stock Awards | The following table summarizes the activity related to restricted stock awards and performance stock awards: Six Months Ended June 30 2015 2014 Number of Shares Weighted-Average Grant Date Fair Value Number of Shares Weighted-Average Non-vested at beginning of period 18,427,409 $ 8.07 16,212,198 $ 6.83 Granted 6,603,342 9.90 5,345,093 11.22 Vested (7,968,049 ) 6.01 (2,471,617 ) 6.83 Forfeited (371,998 ) 8.18 (178,505 ) 7.42 Non-vested at end of period 16,690,704 $ 9.50 18,907,169 $ 8.06 |
Pension and Other Postretirem34
Pension and Other Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Schedule of Net Periodic Pension Cost | Net periodic pension cost, which is recorded in salaries and employee benefits on the consolidated statements of income, included the following components: Qualified Plan Non-qualified Plans Total Three Months Ended June 30 2015 2014 2015 2014 2015 2014 (In millions) Service cost $ 10 $ 8 $ 2 $ 1 $ 12 $ 9 Interest cost 21 22 2 2 23 24 Expected return on plan assets (38 ) (35 ) — — (38 ) (35 ) Amortization of actuarial loss 11 5 1 — 12 5 Amortization of prior service cost — — — 1 — 1 Settlement charge — — — 3 — 3 Net periodic pension cost $ 4 $ — $ 5 $ 7 $ 9 $ 7 Qualified Plan Non-qualified Plans Total Six Months Ended June 30 2015 2014 2015 2014 2015 2014 (In millions) Service cost $ 20 $ 16 $ 3 $ 2 $ 23 $ 18 Interest cost 42 44 3 3 45 47 Expected return on plan assets (74 ) (69 ) — — (74 ) (69 ) Amortization of actuarial loss 22 10 2 1 24 11 Amortization of prior service cost — — — 1 — 1 Settlement charge — — — 3 — 3 Net periodic pension cost $ 10 $ 1 $ 8 $ 10 $ 18 $ 11 |
Derivative Financial Instrume35
Derivative Financial Instruments and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule Of Derivative Instruments Notional And Fair Values | The following tables present the notional amount and estimated fair value of derivative instruments on a gross basis as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Gain (1) Loss (1) Gain (1) Loss (1) (In millions) Derivatives in fair value hedging relationships: Interest rate swaps $ 2,217 $ 8 $ 15 $ 2,817 $ 6 $ 30 Derivatives in cash flow hedging relationships: Interest rate swaps 8,950 60 12 8,050 38 31 Total derivatives designated as hedging instruments $ 11,167 $ 68 $ 27 $ 10,867 $ 44 $ 61 Derivatives not designated as hedging instruments: Interest rate swaps $ 40,012 $ 528 $ 575 $ 45,860 $ 941 $ 972 Interest rate options 2,991 17 1 3,016 10 2 Interest rate futures and forward commitments 17,530 11 5 17,978 3 8 Other contracts 4,441 134 134 4,149 217 211 Total derivatives not designated as hedging instruments $ 64,974 $ 690 $ 715 $ 71,003 $ 1,171 $ 1,193 Total derivatives $ 76,141 $ 758 $ 742 $ 81,870 $ 1,215 $ 1,254 _________ (1) Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. |
Schedule Of Effect Of Derivative Instruments On Statements Of Operations | The following tables present the effect of hedging derivative instruments on the consolidated statements of income: Gain or (Loss) Recognized in Income on Derivatives Location of Amounts Recognized in Income on Derivatives and Related Hedged Item Gain or (Loss) Recognized in Income on Related Hedged Item Three Months Ended June 30 Three Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Fair Value Hedges: Interest rate swaps on: Debt/CDs $ 4 $ 6 Interest expense $ 2 $ 6 Debt/CDs (3 ) (6 ) Other non-interest expense 3 8 Securities available for sale (4 ) (4 ) Interest income — — Securities available for sale 25 (14 ) Other non-interest expense (25 ) 13 Total $ 22 $ (18 ) $ (20 ) $ 27 Effective Portion (3) Gain or (Loss) Recognized in AOCI (1) Location of Amounts Reclassified from AOCI into Income Gain or (Loss) Reclassified from AOCI into Income (2) Three Months Ended June 30 Three Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Cash Flow Hedges: Interest rate swaps $ (25 ) $ 22 Interest income on loans $ 34 $ 31 Forward starting swaps — 1 Interest expense on debt — (2 ) Total $ (25 ) $ 23 $ 34 $ 29 Gain or (Loss) Recognized in Income on Derivatives Location of Amounts Recognized in Income on Derivatives and Related Hedged Item Gain or (Loss) Recognized in Income on Related Hedged Item Six Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Fair Value Hedges: Interest rate swaps on: Debt/CDs $ 8 $ 15 Interest expense $ 6 $ 8 Debt/CDs 4 (14 ) Other non-interest expense (4 ) 17 Securities available for sale (8 ) (8 ) Interest income — — Securities available for sale 5 (32 ) Other non-interest expense (6 ) 27 Total $ 9 $ (39 ) $ (4 ) $ 52 Effective Portion (3) Gain or (Loss) Recognized in AOCI (1) Location of Amounts Reclassified from AOCI into Income Gain or (Loss) Reclassified from AOCI into Income (2) Six Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) (In millions) Cash Flow Hedges: Interest rate swaps $ 12 $ 26 Interest income on loans $ 67 $ 62 Forward starting swaps — 3 Interest expense on debt — (5 ) Total $ 12 $ 29 $ 67 $ 57 ______ (1) After-tax (2) Pre-tax (3) All cash flow hedges were highly effective for all periods presented, and the change in fair value attributed to hedge ineffectiveness was not material. |
Schedule of Gains (Losses) Recognized Related to Derivatives Not Designated as Hedging Instruments | The following table presents the location and amount of gain or (loss) recognized in income on derivatives not designated as hedging instruments in the consolidated statements of income for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30 Six Months Ended June 30 Derivatives Not Designated as Hedging Instruments 2015 2014 2015 2014 (In millions) Capital markets fee income and other (1) : Interest rate swaps $ 4 $ 3 $ 8 $ 5 Interest rate options 4 — 4 — Interest rate futures and forward commitments — (1 ) (1 ) (1 ) Other contracts (11 ) 4 (7 ) 6 Total capital markets fee income and other (3 ) 6 4 10 Mortgage income: Interest rate swaps (16 ) 10 (3 ) 18 Interest rate options (3 ) 3 4 6 Interest rate futures and forward commitments 3 (4 ) 7 (8 ) Total mortgage income (16 ) 9 8 16 $ (19 ) $ 15 $ 12 $ 26 ______ (1) Capital markets fee income and other is included in Other income on the consolidated statements of income. |
Schedule Of Gross Derivative Positions, Including Collateral Posted or Received | The following table presents the Company's gross derivative positions, including collateral posted or received, as of June 30, 2015 and December 31, 2014 . Offsetting Derivative Assets Offsetting Derivative Liabilities June 30, 2015 December 31, 2014 June 30, 2015 December 31, 2014 (In millions) Gross amounts subject to offsetting $ 679 $ 1,157 $ 673 $ 1,195 Gross amounts not subject to offsetting 79 58 69 59 Gross amounts recognized 758 1,215 742 1,254 Gross amounts offset in the consolidated balance sheets (1) 361 815 589 1,054 Net amounts presented in the consolidated balance sheets 397 400 153 200 Gross amounts not offset in the consolidated balance sheets: Financial instruments 5 8 12 — Cash collateral received/posted — — 12 29 Net amounts $ 392 $ 392 $ 129 $ 171 ________ (1) At June 30, 2015 , gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $82 million and cash collateral posted of $309 million . At December 31, 2014 , gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $111 million and cash collateral posted of $354 million . |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis | The following table presents assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Estimated Fair Value Level 1 Level 2 Level 3 Total Estimated Fair Value (In millions) Recurring fair value measurements Trading account securities $ 110 $ — $ — $ 110 $ 106 $ — $ — $ 106 Securities available for sale: U.S. Treasury securities $ 181 $ — $ — $ 181 $ 176 $ — $ — $ 176 Federal agency securities — 228 — 228 — 235 — 235 Obligations of states and political subdivisions — 2 — 2 — 2 — 2 Mortgage-backed securities (MBS): Residential agency — 15,942 — 15,942 — 16,038 — 16,038 Residential non-agency — — 6 6 — — 8 8 Commercial agency — 2,176 — 2,176 — 1,964 — 1,964 Commercial non-agency — 1,481 — 1,481 — 1,494 — 1,494 Corporate and other debt securities — 1,801 3 1,804 — 1,987 3 1,990 Equity securities (1) 224 — — 224 146 — — 146 Total securities available for sale $ 405 $ 21,630 $ 9 $ 22,044 $ 322 $ 21,720 $ 11 $ 22,053 Mortgage loans held for sale $ — $ 466 $ — $ 466 $ — $ 440 $ — $ 440 Residential mortgage servicing rights $ — $ — $ 268 $ 268 $ — $ — $ 257 $ 257 Derivative assets: Interest rate swaps $ — $ 596 $ — $ 596 $ — $ 985 $ — $ 985 Interest rate options — 2 15 17 — 2 8 10 Interest rate futures and forward commitments — 11 — 11 — 3 — 3 Other contracts — 134 — 134 — 217 — 217 Total derivative assets $ — $ 743 $ 15 $ 758 $ — $ 1,207 $ 8 $ 1,215 Derivative liabilities: Interest rate swaps $ — $ 602 $ — $ 602 $ — $ 1,033 $ — $ 1,033 Interest rate options — 1 — 1 — 2 — 2 Interest rate futures and forward commitments — 5 — 5 — 8 — 8 Other contracts — 134 — 134 — 211 — 211 Total derivative liabilities $ — $ 742 $ — $ 742 $ — $ 1,254 $ — $ 1,254 Nonrecurring fair value measurements Loans held for sale $ — $ — $ 8 $ 8 $ — $ — $ 33 $ 33 Foreclosed property and other real estate — 37 46 83 — 41 8 49 _______ (1) Excludes Federal Reserve Bank and Federal Home Loan Bank Stock totaling $484 million and $144 million at June 30, 2015 and $488 million and $39 million at December 31, 2014 , respectively. |
Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs | The following tables illustrate a rollforward for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2015 and 2014 . The tables do not reflect the change in fair value attributable to any related economic hedges the Company used to mitigate the interest rate risk associated with these assets and liabilities. The net changes in realized gains (losses) included in earnings related to Level 3 assets and liabilities held at June 30, 2015 and 2014 are not material. Three Months Ended June 30, 2015 Opening Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers Transfers Closing Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 7 — — — — — (1 ) — — $ 6 Corporate and other debt securities 3 — — — — — — — — 3 Total securities available for sale $ 10 — — — — — (1 ) — — $ 9 Residential mortgage servicing rights $ 239 17 (1) — 12 — — — — — $ 268 Total derivatives, net $ 14 21 (1) — 4 — — (24 ) — — $ 15 Three Months Ended June 30, 2014 Opening Total Realized / Purchases Sales Issuances Settlements Transfers Transfers Closing Included Included (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 9 — — — — — — — — $ 9 Corporate and other debt securities 3 — — — — — (1 ) — — 2 Total securities available for sale $ 12 — — — — — (1 ) — — $ 11 Residential mortgage servicing rights $ 288 (19 ) (1) — 7 — — — — — $ 276 Total derivatives, net $ 8 29 (1) — — — — (25 ) — — $ 12 Six Months Ended June 30, 2015 Opening Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers Transfers Closing Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 8 — — — — — (2 ) — — $ 6 Corporate and other debt securities 3 — — — — — — — — 3 Total securities available for sale $ 11 — — — — — (2 ) — — $ 9 Residential mortgage servicing rights $ 257 (8 ) (1) — 19 — — — — — $ 268 Total derivatives, net $ 8 49 (1) — 4 — — (46 ) — — $ 15 Six Months Ended June 30, 2014 Opening Balance January 1, 2014 Total Realized / Unrealized Gains or Losses Purchases Sales Issuances Settlements Transfers into Level 3 Transfers out of Level 3 Closing Balance June 30, 2014 Included in Earnings Included in Other Compre- hensive Income (Loss) (In millions) Level 3 Instruments Only Securities available for sale: Residential non-agency MBS $ 9 — — — — — — — — $ 9 Corporate and other debt securities 2 — — 3 — — (3 ) — — 2 Total securities available for sale $ 11 — — 3 — — (3 ) — — $ 11 Residential mortgage servicing rights $ 297 (36 ) (1) — 15 — — — — — $ 276 Total derivatives, net $ 5 50 (1) — — — — (43 ) — — $ 12 _________ (1) Primarily included in mortgage income. |
Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements | The following table presents the fair value adjustments related to non-recurring fair value measurements: Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Loans held for sale $ (4 ) $ (8 ) $ (11 ) $ (23 ) Foreclosed property and other real estate (40 ) (7 ) (47 ) (14 ) |
Summary Of Quantitative Information About Level 3 Measurements | The following tables present detailed information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of June 30, 2015 and December 31, 2014 . The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted average within the range utilized at June 30, 2015 and December 31, 2014 are included. Following the tables are a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input. June 30, 2015 Level 3 Estimated Fair Value at June 30, 2015 Valuation Technique Unobservable Input(s) Quantitative Range of Unobservable Inputs and (Weighted-Average) (Dollars in millions) Recurring fair value measurements: Securities available for sale: Residential non-agency MBS $6 Discounted cash flow Spread to LIBOR 5.4% - 49.9% (14.6%) Weighted-average prepayment speed (CPR; percentage) 4.6% - 30.6% (11.1%) Probability of default 1.4% Loss severity 40.7% Corporate and other debt securities $3 Market comparable Evaluated quote on same issuer/comparable bond 100.0% Residential mortgage servicing rights (1) $268 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.4% - 10.7% (10.0%) Option-adjusted spread (percentage) 8.7% - 17.3% (10.0%) Derivative assets: Interest rate options $11 Interest rate lock commitments on the residential mortgage loans are valued using discounted cash flows Weighted-average prepayment speed (CPR; percentage) 9.4% - 10.7% (10.0%) Option-adjusted spread (percentage) 8.7% - 17.3% (10.0%) Pull-through 10.1% - 99.1% (88.4%) $4 Interest rate lock commitments on the commercial mortgage loans are valued using discounted cash flows Internal rate of return 12.0% Nonrecurring fair value measurements: Loans held for sale $8 Commercial loans held for sale are valued based on multiple data points, including discount to appraised value of collateral based on recent market activity for sales of similar loans Appraisal comparability adjustment (discount) 13.5% - 82.6% (58.2%) Foreclosed property and other real estate $24 Property in foreclosure is valued by discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 25.0% - 53.3% (28.3%) $22 Bank owned property valuations are based on comparable sales and local broker network estimates provided by a third-party real estate services provider Estimated third-party valuations utilizing available sales data for similar transactions (discount) 15.4% - 89.1% (59.5%) _________ (1) See Note 5 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. December 31, 2014 Level 3 Estimated Fair Value at December 31, 2014 Valuation Technique Unobservable Input(s) Quantitative Range of Unobservable Inputs and (Weighted-Average) (Dollars in millions) Recurring fair value measurements: Securities available for sale: Residential non-agency MBS $8 Discounted cash flow Spread to LIBOR 5.4% - 49.9% (12.3%) Weighted-average prepayment speed (CPR; percentage) 6.3% - 15.0% (9.5%) Probability of default 1.4% Loss severity 37.4% Corporate and other debt securities $3 Market comparable Evaluated quote on same issuer/comparable bond 99.9% Residential mortgage servicing rights (1) $257 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.9% - 22.4% (12.0%) Option-adjusted spread (percentage) 7.7% - 11.3% (9.0%) Derivative assets: Interest rate options $8 Discounted cash flow Weighted-average prepayment speed (CPR; percentage) 9.9% - 22.4% (12.0%) Option-adjusted spread (percentage) 7.7% - 11.3% (9.0%) Pull-through 7.3% - 99.1% (87.8%) Nonrecurring fair value measurements: Loans held for sale $33 Commercial loans held for sale are valued based on multiple data points, including discount to appraised value of collateral based on recent market activity for sales of similar loans Appraisal comparability adjustment (discount) 8.3% - 90.9% (53.3%) Foreclosed property and other real estate $8 Property in foreclosure is valued by discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 3.7% - 73.0% (29.6%) _________ (1) See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2014 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. |
Fair Value Option, Fair Value and Unpaid Principal Balance | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for mortgage loans held for sale measured at fair value: June 30, 2015 December 31, 2014 Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Less Aggregate Unpaid Principal Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Less Aggregate Unpaid Principal (In millions) Mortgage loans held for sale, at fair value $ 466 $ 455 $ 11 $ 440 $ 421 $ 19 Interest income on mortgage loans held for sale is recognized based on contractual rates and is reflected in interest income on loans held for sale in the consolidated statements of income. The following table details net gains resulting from changes in fair value of these loans which were recorded in mortgage income in the consolidated statements of income during the three and six months ended June 30, 2015 and 2014 , respectively. These changes in fair value are mostly offset by economic hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk. Mortgage loans held for sale, at fair value Three Months Ended June 30 Six Months Ended June 30 2015 2014 2015 2014 (In millions) Net gains (losses) resulting from changes in fair value $ (4 ) $ 11 $ (8 ) $ 17 |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2015 are as follows: June 30, 2015 Carrying Amount Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 3,755 $ 3,755 $ 3,755 $ — $ — Trading account securities 110 110 110 — — Securities held to maturity 2,067 2,093 1 2,092 — Securities available for sale 22,672 22,672 405 22,258 9 Loans held for sale 511 511 — 466 45 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 77,186 74,140 — — 74,140 Other interest-earning assets 70 70 — 70 — Derivative assets 758 758 — 743 15 Financial liabilities: Derivative liabilities 742 742 — 742 — Deposits 97,075 97,051 — 97,051 — Short-term borrowings 1,846 1,846 — 1,846 — Long-term borrowings 3,602 4,179 — 3,241 938 Loan commitments and letters of credit 104 468 — — 468 Indemnification obligation 203 185 — — 185 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at June 30, 2015 was $3.0 billion or 4.0 percent. (3) Excluded from this table is the lease carrying amount of $1.8 billion at June 30, 2015 . The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company's financial instruments as of December 31, 2014 are as follows: December 31, 2014 Carrying Amount Estimated Fair Value (1) Level 1 Level 2 Level 3 (In millions) Financial assets: Cash and cash equivalents $ 4,004 $ 4,004 $ 4,004 $ — $ — Trading account securities 106 106 106 — — Securities held to maturity 2,175 2,209 1 2,208 — Securities available for sale 22,580 22,580 322 22,247 11 Loans held for sale 541 541 — 440 101 Loans (excluding leases), net of unearned income and allowance for loan losses (2)(3) 74,482 70,114 — — 70,114 Other interest-earning assets 89 89 — 89 — Derivative assets 1,215 1,215 — 1,207 8 Financial liabilities: Derivative liabilities 1,254 1,254 — 1,254 — Deposits 94,200 94,186 — 94,186 — Short-term borrowings 2,253 2,253 — 2,253 — Long-term borrowings 3,462 3,871 — 3,504 367 Loan commitments and letters of credit 106 539 — — 539 Indemnification obligation 206 198 — — 198 _________ (1) Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. (2) The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at December 31, 2014 was $4.4 billion or 5.9 percent. (3) Excluded from this table is the lease carrying amount of $1.7 billion at December 31, 2014 . |
Business Segment Information (T
Business Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Schedule Of Financial Information By Reportable Segment | The following tables present financial information for each reportable segment for the period indicated. Three Months Ended June 30, 2015 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 282 $ 609 $ 41 $ (112 ) $ 820 $ — $ 820 Provision (credit) for loan losses (5 ) 49 2 17 63 — 63 Non-interest income 98 286 98 108 590 — 590 Non-interest expense 154 615 104 61 934 6 940 Income (loss) before income taxes 231 231 33 (82 ) 413 (6 ) 407 Income tax expense (benefit) 88 88 12 (64 ) 124 (2 ) 122 Net income (loss) $ 143 $ 143 $ 21 $ (18 ) $ 289 $ (4 ) $ 285 Average assets $ 45,884 $ 38,173 $ 2,889 $ 33,929 $ 120,875 $ — $ 120,875 Three Months Ended June 30, 2014 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 288 $ 616 $ 44 $ (125 ) $ 823 $ — $ 823 Provision (credit) for loan losses — 67 — (32 ) 35 — 35 Non-interest income 73 285 91 26 475 — 475 Non-interest expense 132 583 100 5 820 (2 ) 818 Income (loss) before income taxes 229 251 35 (72 ) 443 2 445 Income tax expense (benefit) 87 96 14 (49 ) 148 1 149 Net income (loss) $ 142 $ 155 $ 21 $ (23 ) $ 295 $ 1 $ 296 Average assets $ 43,745 $ 38,266 $ 2,971 $ 32,899 $ 117,881 $ — $ 117,881 Six Months Ended June 30, 2015 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 562 $ 1,209 $ 83 $ (219 ) $ 1,635 $ — $ 1,635 Provision (credit) for loan losses (6 ) 101 5 12 112 — 112 Non-interest income 188 551 198 123 1,060 — 1,060 Non-interest expense 307 1,204 209 119 1,839 10 1,849 Income (loss) before income taxes 449 455 67 (227 ) 744 (10 ) 734 Income tax expense (benefit) 171 173 25 (150 ) 219 (4 ) 215 Net income (loss) $ 278 $ 282 $ 42 $ (77 ) $ 525 $ (6 ) $ 519 Average assets $ 45,520 $ 38,083 $ 2,901 $ 34,218 $ 120,722 $ — $ 120,722 Six Months Ended June 30, 2014 Corporate Bank Consumer Bank Wealth Management Other Continuing Operations Discontinued Operations Consolidated (In millions) Net interest income (loss) $ 570 $ 1,227 $ 89 $ (247 ) $ 1,639 $ — $ 1,639 Provision (credit) for loan losses 1 147 1 (112 ) 37 — 37 Non-interest income 149 561 183 39 932 — 932 Non-interest expense 267 1,146 200 24 1,637 (21 ) 1,616 Income (loss) before income taxes 451 495 71 (120 ) 897 21 918 Income tax expense (benefit) 172 188 27 (88 ) 299 8 307 Net income $ 279 $ 307 $ 44 $ (32 ) $ 598 $ 13 $ 611 Average assets $ 43,134 $ 38,496 $ 2,965 $ 33,205 $ 117,800 $ — $ 117,800 |
Commitments, Contingencies an38
Commitments, Contingencies and Guarantees (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Credit Risk Of Financial Instruments By Contractual Amounts | Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table: June 30, 2015 December 31, 2014 (In millions) Unused commitments to extend credit $ 45,142 $ 43,724 Standby letters of credit 1,545 1,697 Commercial letters of credit 63 71 Liabilities associated with standby letters of credit 39 40 Assets associated with standby letters of credit 39 40 Reserve for unfunded credit commitments 64 65 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative effect adjustment to other interest-earning assets | $ 70 | $ 89 | |
Cumulative effect adjustment to other assets | 5,832 | 6,013 | |
Low Income Housing Tax Credit Investments [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Equity Investments | 897 | 818 | |
Cumulative effect of adopting ASU 2014-01 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative effect adjustment to other interest-earning assets | 22 | ||
Cumulative effect adjustment to other assets | 138 | ||
Amortization recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 51 | $ 45 | |
Tax credits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | 58 | 50 | |
Other tax benefits recognized for low income housing tax credits associated with adoption of ASU 2014-01 | $ 11 | $ 11 | |
Equity [Member] | Cumulative effect of adopting ASU 2014-01 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative effect adjustment to retained earnings | $ 116 |
Discontinued Operations (Schedu
Discontinued Operations (Schedule of Discontinued Operations Income Statement) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Non-interest expense: | |||||
Other | $ 292 | $ 217 | $ 577 | $ 416 | |
Total non-interest expense | 934 | 820 | 1,839 | 1,637 | |
Income (loss) from discontinued operations before income taxes | (6) | 2 | (10) | 21 | |
Income tax expense (benefit) | (2) | 1 | (4) | 8 | |
Income (loss) from discontinued operations, net of tax | $ (4) | $ 1 | $ (6) | $ 13 | |
Earnings (loss) per common share from discontinued operations: | |||||
Basic (in dollars per share) | [1] | $ 0 | $ 0 | $ 0 | $ 0.01 |
Diluted (in dollars per share) | [1] | $ 0 | $ 0 | $ 0 | $ 0.01 |
Discontinued Operations [Member] | |||||
Non-interest expense: | |||||
Professional and legal expenses | $ 5 | $ (3) | $ 9 | $ (22) | |
Other | 1 | 1 | 1 | 1 | |
Total non-interest expense | 6 | (2) | 10 | (21) | |
Income (loss) from discontinued operations before income taxes | (6) | 2 | (10) | 21 | |
Income tax expense (benefit) | (2) | 1 | (4) | 8 | |
Income (loss) from discontinued operations, net of tax | $ (4) | $ 1 | $ (6) | $ 13 | |
Earnings (loss) per common share from discontinued operations: | |||||
Basic (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0.01 | |
Diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0.01 | |
[1] | Certain per share amounts may not appear to reconcile due to rounding. |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | |
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Held To Maturity Amortized Cost Basis | $ 2,150 | $ 2,265 | |
Held To Maturity Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Securities Gross Unrealized Losses | [1] | (83) | (90) |
Held-to-maturity Securities | 2,067 | 2,175 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 30 | 41 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (4) | (7) | |
Securities held to maturity, estimated fair value | 2,093 | 2,209 | |
Amortized Cost - Securities available for sale | 22,516 | 22,296 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 288 | 362 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (132) | (78) | |
Available-for-sale securities, net carrying value | 22,672 | 22,580 | |
Securities available for sale | 22,672 | 22,580 | |
US Treasury Securities [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Held To Maturity Amortized Cost Basis | 1 | 1 | |
Held To Maturity Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Securities Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-maturity Securities | 1 | 1 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | |
Securities held to maturity, estimated fair value | 1 | 1 | |
Amortized Cost - Securities available for sale | 180 | 176 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale securities, net carrying value | 181 | 176 | |
Securities available for sale | 181 | 176 | |
Federal Agency Securities [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Held To Maturity Amortized Cost Basis | 350 | 350 | |
Held To Maturity Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Securities Gross Unrealized Losses | [1] | (11) | (12) |
Held-to-maturity Securities | 339 | 338 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 8 | 6 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | |
Securities held to maturity, estimated fair value | 347 | 344 | |
Amortized Cost - Securities available for sale | 225 | 233 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 3 | 2 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale securities, net carrying value | 228 | 235 | |
Securities available for sale | 228 | 235 | |
Obligations of States and Political Subdivisions [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Amortized Cost - Securities available for sale | 2 | 2 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale securities, net carrying value | 2 | 2 | |
Securities available for sale | 2 | 2 | |
Residential Agency [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Held To Maturity Amortized Cost Basis | 1,597 | 1,698 | |
Held To Maturity Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Securities Gross Unrealized Losses | [1] | (67) | (71) |
Held-to-maturity Securities | 1,530 | 1,627 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 22 | 35 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2) | (1) | |
Securities held to maturity, estimated fair value | 1,550 | 1,661 | |
Amortized Cost - Securities available for sale | 15,793 | 15,788 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 225 | 283 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (76) | (33) | |
Available-for-sale securities, net carrying value | 15,942 | 16,038 | |
Securities available for sale | 15,942 | 16,038 | |
Residential Non Agency [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Amortized Cost - Securities available for sale | 6 | 7 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 1 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale securities, net carrying value | 6 | 8 | |
Securities available for sale | 6 | 8 | |
Commercial Agency [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Held To Maturity Amortized Cost Basis | 202 | 216 | |
Held To Maturity Securities Gross Unrealized Gains | [1] | 0 | 0 |
Held To Maturity Securities Gross Unrealized Losses | [1] | (5) | (7) |
Held-to-maturity Securities | 197 | 209 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2) | (6) | |
Securities held to maturity, estimated fair value | 195 | 203 | |
Amortized Cost - Securities available for sale | 2,167 | 1,959 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 17 | 14 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (8) | (9) | |
Available-for-sale securities, net carrying value | 2,176 | 1,964 | |
Securities available for sale | 2,176 | 1,964 | |
Commercial Non Agency [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Amortized Cost - Securities available for sale | 1,479 | 1,489 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 11 | 14 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (9) | (9) | |
Available-for-sale securities, net carrying value | 1,481 | 1,494 | |
Securities available for sale | 1,481 | 1,494 | |
Corporate and Other Debt Securities [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Amortized Cost - Securities available for sale | 1,823 | 1,980 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 20 | 36 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (39) | (26) | |
Available-for-sale securities, net carrying value | 1,804 | 1,990 | |
Securities available for sale | 1,804 | 1,990 | |
Equity Securities [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Amortized Cost - Securities available for sale | 841 | 662 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 11 | 12 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (1) | |
Available-for-sale securities, net carrying value | 852 | 673 | |
Securities available for sale | $ 852 | $ 673 | |
[1] | The gross unrealized losses recognized in other comprehensive income (OCI) on held to maturity securities resulted from a transfer of available for sale securities to held to maturity in the second quarter of 2013. |
Securities (Schedule Of Amort42
Securities (Schedule Of Amortized Cost Of Equity Securities Related To Federal Reserve Bank Stock And Federal Home Loan Bank Stock) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Federal Reserve Bank Stock | $ 484 | $ 488 |
Federal Home Loan Bank Stock | $ 144 | $ 39 |
Securities (Schedule Of Cost An
Securities (Schedule Of Cost And Estimated Fair Value Of Securities Available For Sale And Securities Held To Maturity By Contractual Maturity) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Held To Maturity Amortized Cost Basis | $ 2,150 | $ 2,265 |
Securities held to maturity, estimated fair value | 2,093 | 2,209 |
Amortized Cost - Securities available for sale | 22,516 | 22,296 |
Fair Value - Securities available for sale | 22,672 | 22,580 |
Held-to-maturity Securities [Member] | ||
Held-to-maturity, Debt Maturities, within One Year, Net Carrying Amount | 0 | |
Held-to-maturity, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 351 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 348 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 | |
Available-for-sale Securities [Member] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 101 | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 102 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 830 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 839 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 1,007 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 992 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 292 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 282 | |
Residential Agency [Member] | ||
Held To Maturity Amortized Cost Basis | 1,597 | 1,698 |
Securities held to maturity, estimated fair value | 1,550 | 1,661 |
Amortized Cost - Securities available for sale | 15,793 | 15,788 |
Fair Value - Securities available for sale | 15,942 | 16,038 |
Residential Non Agency [Member] | ||
Amortized Cost - Securities available for sale | 6 | 7 |
Fair Value - Securities available for sale | 6 | 8 |
Commercial Agency [Member] | ||
Held To Maturity Amortized Cost Basis | 202 | 216 |
Securities held to maturity, estimated fair value | 195 | 203 |
Amortized Cost - Securities available for sale | 2,167 | 1,959 |
Fair Value - Securities available for sale | 2,176 | 1,964 |
Commercial Non Agency [Member] | ||
Amortized Cost - Securities available for sale | 1,479 | 1,489 |
Fair Value - Securities available for sale | 1,481 | 1,494 |
Equity Securities [Member] | ||
Amortized Cost - Securities available for sale | 841 | 662 |
Fair Value - Securities available for sale | $ 852 | $ 673 |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Estimated Fair Value Of Securities Available For Sale and Held to Maturity) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | $ 495 | $ 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (9) | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 1,596 | 2,206 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (48) | (56) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 2,091 | 2,206 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (57) | (56) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 6,795 | 2,358 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (90) | (17) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,690 | 3,864 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (42) | (61) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,485 | 6,222 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (132) | (78) |
US Treasury Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 7 | 74 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15 | 77 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 0 |
Federal Agency Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 149 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 198 | 344 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | (6) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 347 | 344 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | (6) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 0 |
Residential Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 346 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (8) | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 1,203 | 1,659 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (39) | (37) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 1,549 | 1,659 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (47) | (37) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,955 | 1,178 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (57) | (5) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 940 | 2,587 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (19) | (28) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 5,895 | 3,765 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (76) | (33) |
Commercial Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Estimated Fair Value | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Estimated Fair Value | 195 | 203 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (7) | (13) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Estimated Fair Value | 195 | 203 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (7) | (13) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 528 | 464 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6) | (4) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 228 | 316 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | (5) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 756 | 780 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (8) | (9) |
Commercial Non Agency [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 562 | 242 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6) | (1) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 237 | 500 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (3) | (8) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 799 | 742 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (9) | (9) |
All Other Securities [Member] | ||
Unrealized Loss And Fair Value On Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 743 | 400 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (21) | (7) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 273 | 455 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (18) | (20) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,016 | 855 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (39) | $ (27) |
Securities (Schedule Of Gross R
Securities (Schedule Of Gross Realized Gains And Gross Realized Losses On Available For Sale Securities) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross realized gains | $ 9 | $ 13 | $ 14 | $ 16 |
Gross realized losses | (3) | (5) | (3) | (6) |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | (2) | 0 | (2) |
Net securities gains (losses) | $ 6 | $ 6 | $ 11 | $ 8 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Millions | Jun. 30, 2015USD ($)Security | Dec. 31, 2014USD ($)Security |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities pledged to secure public funds, trust deposits and borrowing arrangements | $ 12,700 | $ 12,100 |
Securities in unrealized loss position number | Security | 895 | 827 |
Securities Pledged as Collateral [Member] | US Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Financial Instruments Owned and Pledged as Collateral, Amount Eligible to be Repledged by Counterparty | $ 12 | $ 0 |
Loans and the Allowance for C47
Loans and the Allowance for Credit Losses (Schedule Of Loan Portfolio, Net Of Unearned Income) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 80,149 | $ 77,307 | $ 76,513 |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 35,347 | 32,732 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 7,797 | 8,263 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 448 | 407 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 43,592 | 41,402 | 40,744 |
Commercial Investor Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 4,509 | 4,680 | |
Commercial Investor Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 2,419 | 2,133 | |
Total Investor Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 6,928 | 6,813 | 6,973 |
Residential First Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 12,589 | 12,315 | |
Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 10,899 | 10,932 | |
Indirect-vehicles [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 3,782 | 3,642 | |
Indirect-other consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 383 | 206 | |
Consumer Credit Card Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 992 | 1,009 | |
Consumer Other Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | 984 | 988 | |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $ 29,629 | $ 29,092 | $ 28,796 |
Loans and the Allowance for C48
Loans and the Allowance for Credit Losses (Analysis of the Allowance for Credit Losses by Portfolio Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Allowance for loan losses, beginning of period | $ 1,098 | $ 1,261 | $ 1,103 | $ 1,341 | |||
Provision (credit) for loan and lease losses | 63 | 35 | 112 | 37 | |||
Loan losses: | |||||||
Charge-offs | (86) | (110) | (187) | (234) | |||
Recoveries | 40 | 43 | 87 | 85 | |||
Net loan losses | (46) | (67) | (100) | (149) | |||
Allowance for loan losses, end of period | 1,098 | 1,261 | 1,103 | 1,341 | $ 1,115 | $ 1,103 | $ 1,229 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||||
Reserve For Unfunded Credit Commitments, beginning of period | 66 | 78 | 65 | 78 | |||
Provision (credit) for unfunded credit losses | (2) | 11 | (1) | 11 | |||
Reserve For Unfunded Credit Commitments, end of period | 64 | 89 | 64 | 89 | |||
Allowance for Credit Losses, end of period | 1,179 | 1,318 | |||||
Portion of ending allowance for loan losses: | |||||||
Allowance Individually Evaluated for Impairment | 300 | 386 | |||||
Allowance Collectively Evaluated for Impairment | 815 | 843 | |||||
Total allowance for loan losses | 1,115 | 1,229 | 1,115 | 1,229 | |||
Portion of loan portfolio ending balance: | |||||||
Loans Individually Evaluated for Impairment | 1,831 | 2,227 | |||||
Loans Collectively Evaluated for Impairment | 78,318 | 74,286 | |||||
Loans, net of unearned income | 80,149 | 77,307 | 76,513 | ||||
Commercial Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Allowance for loan losses, beginning of period | 696 | 692 | 654 | 711 | |||
Provision (credit) for loan and lease losses | 51 | 39 | 110 | 44 | |||
Loan losses: | |||||||
Charge-offs | (25) | (40) | (59) | (81) | |||
Recoveries | 18 | 14 | 35 | 31 | |||
Net loan losses | (7) | (26) | (24) | (50) | |||
Allowance for loan losses, end of period | 696 | 692 | 654 | 711 | 740 | 654 | 705 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||||
Reserve For Unfunded Credit Commitments, beginning of period | 58 | 63 | 57 | 63 | |||
Provision (credit) for unfunded credit losses | 1 | 11 | 2 | 11 | |||
Reserve For Unfunded Credit Commitments, end of period | 59 | 74 | 59 | 74 | |||
Allowance for Credit Losses, end of period | 799 | 779 | |||||
Portion of ending allowance for loan losses: | |||||||
Allowance Individually Evaluated for Impairment | 189 | 212 | |||||
Allowance Collectively Evaluated for Impairment | 551 | 493 | |||||
Total allowance for loan losses | 740 | 705 | 740 | 705 | |||
Portion of loan portfolio ending balance: | |||||||
Loans Individually Evaluated for Impairment | 722 | 846 | |||||
Loans Collectively Evaluated for Impairment | 42,870 | 39,898 | |||||
Loans, net of unearned income | 43,592 | 41,402 | 40,744 | ||||
Total Investor Real Estate [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Allowance for loan losses, beginning of period | 125 | 208 | 150 | 236 | |||
Provision (credit) for loan and lease losses | (3) | (18) | (28) | (45) | |||
Loan losses: | |||||||
Charge-offs | (4) | (7) | (12) | (16) | |||
Recoveries | 5 | 7 | 13 | 15 | |||
Net loan losses | 1 | 0 | 1 | (1) | |||
Allowance for loan losses, end of period | 125 | 208 | 150 | 236 | 123 | 150 | 190 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||||
Reserve For Unfunded Credit Commitments, beginning of period | 8 | 11 | 8 | 12 | |||
Provision (credit) for unfunded credit losses | (3) | 1 | (3) | 0 | |||
Reserve For Unfunded Credit Commitments, end of period | 5 | 12 | 5 | 12 | |||
Allowance for Credit Losses, end of period | 128 | 202 | |||||
Portion of ending allowance for loan losses: | |||||||
Allowance Individually Evaluated for Impairment | 42 | 92 | |||||
Allowance Collectively Evaluated for Impairment | 81 | 98 | |||||
Total allowance for loan losses | 123 | 190 | 123 | 190 | |||
Portion of loan portfolio ending balance: | |||||||
Loans Individually Evaluated for Impairment | 264 | 523 | |||||
Loans Collectively Evaluated for Impairment | 6,664 | 6,450 | |||||
Loans, net of unearned income | 6,928 | 6,813 | 6,973 | ||||
Consumer Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Allowance for loan losses, beginning of period | 277 | 361 | 299 | 394 | |||
Provision (credit) for loan and lease losses | 15 | 14 | 30 | 38 | |||
Loan losses: | |||||||
Charge-offs | (57) | (63) | (116) | (137) | |||
Recoveries | 17 | 22 | 39 | 39 | |||
Net loan losses | (40) | (41) | (77) | (98) | |||
Allowance for loan losses, end of period | 277 | 361 | 299 | 394 | 252 | 299 | 334 |
Reserve For Unfunded Credit Commitments [Roll Forward] | |||||||
Reserve For Unfunded Credit Commitments, beginning of period | 0 | 4 | 0 | 3 | |||
Provision (credit) for unfunded credit losses | 0 | (1) | 0 | 0 | |||
Reserve For Unfunded Credit Commitments, end of period | 0 | 3 | 0 | 3 | |||
Allowance for Credit Losses, end of period | 252 | 337 | |||||
Portion of ending allowance for loan losses: | |||||||
Allowance Individually Evaluated for Impairment | 69 | 82 | |||||
Allowance Collectively Evaluated for Impairment | 183 | 252 | |||||
Total allowance for loan losses | $ 252 | $ 334 | $ 252 | $ 334 | |||
Portion of loan portfolio ending balance: | |||||||
Loans Individually Evaluated for Impairment | 845 | 858 | |||||
Loans Collectively Evaluated for Impairment | 28,784 | 27,938 | |||||
Loans, net of unearned income | $ 29,629 | $ 29,092 | $ 28,796 |
Loans and the Allowance for C49
Loans and the Allowance for Credit Losses (Credit Quality Indicators) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | $ 80,149 | $ 77,307 | $ 76,513 |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 35,347 | 32,732 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 7,797 | 8,263 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 448 | 407 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 43,592 | 41,402 | 40,744 |
Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 4,509 | 4,680 | |
Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,419 | 2,133 | |
Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6,928 | 6,813 | 6,973 |
Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 12,589 | 12,315 | |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 10,899 | 10,932 | |
Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 3,782 | 3,642 | |
Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 383 | 206 | |
Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 992 | 1,009 | |
Consumer Other Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 984 | 988 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 29,629 | 29,092 | $ 28,796 |
Pass [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 33,741 | 31,492 | |
Pass [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6,942 | 7,425 | |
Pass [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 413 | 387 | |
Pass [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 41,096 | 39,304 | |
Pass [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 4,119 | 4,152 | |
Pass [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2,355 | 2,060 | |
Pass [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 6,474 | 6,212 | |
Special Mention [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 608 | 626 | |
Special Mention [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 331 | 315 | |
Special Mention [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 20 | 9 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 959 | 950 | |
Special Mention [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 173 | 234 | |
Special Mention [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 31 | 22 | |
Special Mention [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 204 | 256 | |
Substandard [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 701 | 362 | |
Substandard [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 321 | 285 | |
Substandard [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 11 | 8 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 1,033 | 655 | |
Substandard [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 154 | 171 | |
Substandard [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 31 | 49 | |
Substandard [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 185 | 220 | |
Accrual [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 12,503 | 12,206 | |
Accrual [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 10,803 | 10,830 | |
Accrual [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 3,782 | 3,642 | |
Accrual [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 383 | 206 | |
Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 992 | 1,009 | |
Accrual [Member] | Consumer Other Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 984 | 988 | |
Accrual [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 29,447 | 28,881 | |
Non Accrual [Member] | Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 297 | 252 | |
Non Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 203 | 238 | |
Non Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 4 | 3 | |
Non Accrual [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 504 | 493 | |
Non Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 63 | 123 | |
Non Accrual [Member] | Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 2 | 2 | |
Non Accrual [Member] | Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 65 | 125 | |
Non Accrual [Member] | Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 86 | 109 | |
Non Accrual [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 96 | 102 | |
Non Accrual [Member] | Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Consumer Other Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | 0 | 0 | |
Non Accrual [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans, net of unearned income | $ 182 | $ 211 |
Loans and the Allowance for C50
Loans and the Allowance for Credit Losses (Schedule of Aging Analysis Of Days Past Due (DPD) For Each Portfolio Class) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | $ 254 | $ 291 | |
60-89 DPD, Accrual Loans | 127 | 144 | |
90 plus DPD, Accrual Loans | 300 | 347 | |
Total 30 plus DPD, Accrual Loans | 681 | 782 | |
Total Accrual | 79,398 | 76,478 | |
Nonaccrual | 751 | 829 | |
Loans, net of unearned income | 80,149 | 77,307 | $ 76,513 |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 9 | 16 | |
60-89 DPD, Accrual Loans | 14 | 7 | |
90 plus DPD, Accrual Loans | 3 | 7 | |
Total 30 plus DPD, Accrual Loans | 26 | 30 | |
Total Accrual | 35,050 | 32,480 | |
Nonaccrual | 297 | 252 | |
Loans, net of unearned income | 35,347 | 32,732 | |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 32 | 21 | |
60-89 DPD, Accrual Loans | 6 | 13 | |
90 plus DPD, Accrual Loans | 2 | 5 | |
Total 30 plus DPD, Accrual Loans | 40 | 39 | |
Total Accrual | 7,594 | 8,025 | |
Nonaccrual | 203 | 238 | |
Loans, net of unearned income | 7,797 | 8,263 | |
Commercial Real Estate Construction - Owner-Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 0 | 1 | |
60-89 DPD, Accrual Loans | 0 | 0 | |
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 0 | 1 | |
Total Accrual | 444 | 404 | |
Nonaccrual | 4 | 3 | |
Loans, net of unearned income | 448 | 407 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 41 | 38 | |
60-89 DPD, Accrual Loans | 20 | 20 | |
90 plus DPD, Accrual Loans | 5 | 12 | |
Total 30 plus DPD, Accrual Loans | 66 | 70 | |
Total Accrual | 43,088 | 40,909 | |
Nonaccrual | 504 | 493 | |
Loans, net of unearned income | 43,592 | 41,402 | 40,744 |
Commercial Investor Real Estate Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 14 | 17 | |
60-89 DPD, Accrual Loans | 4 | 3 | |
90 plus DPD, Accrual Loans | 1 | 3 | |
Total 30 plus DPD, Accrual Loans | 19 | 23 | |
Total Accrual | 4,446 | 4,557 | |
Nonaccrual | 63 | 123 | |
Loans, net of unearned income | 4,509 | 4,680 | |
Commercial Investor Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 0 | 0 | |
60-89 DPD, Accrual Loans | 0 | 0 | |
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 0 | 0 | |
Total Accrual | 2,417 | 2,131 | |
Nonaccrual | 2 | 2 | |
Loans, net of unearned income | 2,419 | 2,133 | |
Total Investor Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 14 | 17 | |
60-89 DPD, Accrual Loans | 4 | 3 | |
90 plus DPD, Accrual Loans | 1 | 3 | |
Total 30 plus DPD, Accrual Loans | 19 | 23 | |
Total Accrual | 6,863 | 6,688 | |
Nonaccrual | 65 | 125 | |
Loans, net of unearned income | 6,928 | 6,813 | 6,973 |
Residential First Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 91 | 99 | |
60-89 DPD, Accrual Loans | 56 | 64 | |
90 plus DPD, Accrual Loans | 212 | 247 | |
Total 30 plus DPD, Accrual Loans | 359 | 410 | |
Total Accrual | 12,503 | 12,206 | |
Nonaccrual | 86 | 109 | |
Loans, net of unearned income | 12,589 | 12,315 | |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 54 | 73 | |
60-89 DPD, Accrual Loans | 30 | 38 | |
90 plus DPD, Accrual Loans | 61 | 63 | |
Total 30 plus DPD, Accrual Loans | 145 | 174 | |
Total Accrual | 10,803 | 10,830 | |
Nonaccrual | 96 | 102 | |
Loans, net of unearned income | 10,899 | 10,932 | |
Indirect-vehicles [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 36 | 43 | |
60-89 DPD, Accrual Loans | 10 | 10 | |
90 plus DPD, Accrual Loans | 6 | 7 | |
Total 30 plus DPD, Accrual Loans | 52 | 60 | |
Total Accrual | 3,782 | 3,642 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 3,782 | 3,642 | |
Indirect-other consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 1 | 0 | |
60-89 DPD, Accrual Loans | 0 | 0 | |
90 plus DPD, Accrual Loans | 0 | 0 | |
Total 30 plus DPD, Accrual Loans | 1 | 0 | |
Total Accrual | 383 | 206 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 383 | 206 | |
Consumer Credit Card Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 6 | 8 | |
60-89 DPD, Accrual Loans | 4 | 5 | |
90 plus DPD, Accrual Loans | 11 | 12 | |
Total 30 plus DPD, Accrual Loans | 21 | 25 | |
Total Accrual | 992 | 1,009 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 992 | 1,009 | |
Consumer Other Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 11 | 13 | |
60-89 DPD, Accrual Loans | 3 | 4 | |
90 plus DPD, Accrual Loans | 4 | 3 | |
Total 30 plus DPD, Accrual Loans | 18 | 20 | |
Total Accrual | 984 | 988 | |
Nonaccrual | 0 | 0 | |
Loans, net of unearned income | 984 | 988 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 DPD, Accrual Loans | 199 | 236 | |
60-89 DPD, Accrual Loans | 103 | 121 | |
90 plus DPD, Accrual Loans | 294 | 332 | |
Total 30 plus DPD, Accrual Loans | 596 | 689 | |
Total Accrual | 29,447 | 28,881 | |
Nonaccrual | 182 | 211 | |
Loans, net of unearned income | $ 29,629 | $ 29,092 | $ 28,796 |
Loans and the Allowance for C51
Loans and the Allowance for Credit Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1,996 | $ 1,996 | $ 2,191 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 165 | 165 | 176 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 1,831 | 1,831 | 2,015 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 121 | 121 | 80 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 1,710 | 1,710 | 1,935 | |||||
Impaired Financing Receivable, Related Allowance | $ 300 | $ 300 | $ 329 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 23.30% | 23.30% | 23.00% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 1,889 | $ 2,384 | $ 1,925 | $ 2,491 | |||||
Impaired Financing Receivable, Interest Income Recognized | 15 | 21 | 32 | 46 | |||||
Commercial And Industrial [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 421 | 421 | $ 388 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 41 | 41 | 39 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 380 | 380 | 349 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 64 | 64 | 11 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 316 | 316 | 338 | |||||
Impaired Financing Receivable, Related Allowance | $ 109 | $ 109 | $ 100 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 35.60% | 35.60% | 35.80% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 398 | 382 | $ 378 | 424 | |||||
Impaired Financing Receivable, Interest Income Recognized | 2 | 2 | 3 | 5 | |||||
Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 365 | 365 | $ 429 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 28 | 28 | 39 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 337 | 337 | 390 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 37 | 37 | 43 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 300 | 300 | 347 | |||||
Impaired Financing Receivable, Related Allowance | $ 78 | $ 78 | $ 85 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 29.00% | 29.00% | 28.90% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 348 | 499 | $ 364 | 505 | |||||
Impaired Financing Receivable, Interest Income Recognized | 2 | 3 | 5 | 7 | |||||
Commercial Real Estate Construction - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 5 | 5 | $ 3 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 5 | 5 | 3 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 5 | 5 | 3 | |||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 1 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 40.00% | 40.00% | 33.30% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 4 | 38 | $ 4 | 40 | |||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | |||||
Commercial Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 791 | 791 | $ 820 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 69 | 69 | 78 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 722 | 722 | 742 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 101 | 101 | 54 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 621 | 621 | 688 | |||||
Impaired Financing Receivable, Related Allowance | $ 189 | $ 189 | $ 186 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 32.60% | 32.60% | 32.20% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 750 | 919 | $ 746 | 969 | |||||
Impaired Financing Receivable, Interest Income Recognized | 4 | 5 | 8 | 12 | |||||
Commercial Investor Real Estate Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 273 | 273 | $ 429 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 41 | 41 | 47 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 232 | 232 | 382 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 20 | 20 | 26 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 212 | 212 | 356 | |||||
Impaired Financing Receivable, Related Allowance | $ 36 | $ 36 | $ 58 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 28.20% | 28.20% | 24.50% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 257 | 529 | $ 294 | 575 | |||||
Impaired Financing Receivable, Interest Income Recognized | 3 | 6 | 6 | 14 | |||||
Commercial Investor Real Estate Construction [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 41 | 41 | $ 36 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 9 | 9 | 1 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 32 | 32 | 35 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 32 | 32 | 35 | |||||
Impaired Financing Receivable, Related Allowance | $ 6 | $ 6 | $ 7 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 36.60% | 36.60% | 22.20% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 32 | 74 | $ 32 | 80 | |||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 1 | 1 | 2 | |||||
Total Investor Real Estate [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 314 | 314 | $ 465 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 50 | 50 | 48 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 264 | 264 | 417 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 20 | 20 | 26 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 244 | 244 | 391 | |||||
Impaired Financing Receivable, Related Allowance | $ 42 | $ 42 | $ 65 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 29.30% | 29.30% | 24.30% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 289 | 603 | $ 326 | 655 | |||||
Impaired Financing Receivable, Interest Income Recognized | 3 | 7 | 7 | 16 | |||||
Residential First Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 504 | 504 | $ 505 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 33 | 33 | 37 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 471 | 471 | 468 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 471 | 471 | 468 | |||||
Impaired Financing Receivable, Related Allowance | $ 61 | $ 61 | $ 64 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 18.70% | 18.70% | 20.00% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 474 | 454 | $ 475 | 456 | |||||
Impaired Financing Receivable, Interest Income Recognized | 4 | 3 | 8 | 7 | |||||
Home Equity [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 370 | 370 | $ 381 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 13 | 13 | 13 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 357 | 357 | 368 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 357 | 357 | 368 | |||||
Impaired Financing Receivable, Related Allowance | $ 8 | $ 8 | $ 14 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 5.70% | 5.70% | 7.10% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 358 | 383 | $ 360 | 385 | |||||
Impaired Financing Receivable, Interest Income Recognized | 4 | 5 | 9 | 10 | |||||
Indirect-vehicles [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 1 | 1 | $ 1 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 1 | 1 | 1 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 1 | 1 | 1 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 1 | 1 | $ 1 | 1 | |||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | |||||
Consumer Credit Card Financing Receivable [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 2 | 2 | $ 2 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 2 | 2 | 2 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 2 | 2 | 2 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 2 | 2 | $ 2 | 2 | |||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 0 | 0 | 0 | |||||
Consumer Other Financing Receivable [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 14 | 14 | $ 17 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 14 | 14 | 17 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 14 | 14 | 17 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 15 | 22 | $ 15 | 23 | |||||
Impaired Financing Receivable, Interest Income Recognized | 0 | 1 | 0 | 1 | |||||
Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | 891 | 891 | $ 906 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 46 | 46 | 50 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 845 | 845 | 856 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 845 | 845 | 856 | |||||
Impaired Financing Receivable, Related Allowance | $ 69 | $ 69 | $ 78 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 12.90% | 12.90% | 14.10% | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 850 | 862 | $ 853 | 867 | |||||
Impaired Financing Receivable, Interest Income Recognized | 8 | $ 9 | 17 | $ 18 | |||||
Non Accrual [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 754 | [1] | 754 | [1] | $ 822 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 127 | 127 | 138 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 627 | 627 | 684 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 121 | 121 | 80 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 506 | 506 | 604 | |||||
Impaired Financing Receivable, Related Allowance | $ 178 | $ 178 | $ 192 | ||||||
Impaired Financing Receivable, Coverage Percentage | 40.50% | [6] | 40.50% | [6] | 40.10% | [4] | |||
Non Accrual [Member] | Commercial And Industrial [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [5] | $ 335 | $ 335 | $ 286 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 39 | 39 | 36 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 296 | 296 | 250 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 64 | 64 | 11 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 232 | 232 | 239 | |||||
Impaired Financing Receivable, Related Allowance | $ 94 | $ 94 | $ 83 | ||||||
Impaired Financing Receivable, Coverage Percentage | 39.70% | [6] | 39.70% | [6] | 41.60% | [4] | |||
Non Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 221 | [1] | $ 221 | [1] | $ 267 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 18 | 18 | 29 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 203 | 203 | 238 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 37 | 37 | 43 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 166 | 166 | 195 | |||||
Impaired Financing Receivable, Related Allowance | $ 60 | $ 60 | $ 69 | ||||||
Impaired Financing Receivable, Coverage Percentage | 35.30% | [6] | 35.30% | [6] | 36.70% | [4] | |||
Non Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 4 | [1] | $ 4 | [1] | $ 3 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 4 | 4 | 3 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 4 | 4 | 3 | |||||
Impaired Financing Receivable, Related Allowance | $ 2 | $ 2 | $ 1 | ||||||
Impaired Financing Receivable, Coverage Percentage | 50.00% | [6] | 50.00% | [6] | 33.30% | [4] | |||
Non Accrual [Member] | Commercial Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 560 | [1] | $ 560 | [1] | $ 556 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 57 | 57 | 65 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 503 | 503 | 491 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 101 | 101 | 54 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 402 | 402 | 437 | |||||
Impaired Financing Receivable, Related Allowance | $ 156 | $ 156 | $ 153 | ||||||
Impaired Financing Receivable, Coverage Percentage | 38.00% | [6] | 38.00% | [6] | 39.20% | [4] | |||
Non Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 97 | [1] | $ 97 | [1] | $ 162 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 34 | 34 | 39 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 63 | 63 | 123 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 20 | 20 | 26 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 43 | 43 | 97 | |||||
Impaired Financing Receivable, Related Allowance | $ 15 | $ 15 | $ 30 | ||||||
Impaired Financing Receivable, Coverage Percentage | 50.50% | [6] | 50.50% | [6] | 42.60% | [4] | |||
Non Accrual [Member] | Commercial Investor Real Estate Construction [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 11 | [1] | $ 11 | [1] | $ 3 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 9 | 9 | 1 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 2 | 2 | 2 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 2 | 2 | 2 | |||||
Impaired Financing Receivable, Related Allowance | $ 1 | $ 1 | $ 1 | ||||||
Impaired Financing Receivable, Coverage Percentage | 90.90% | [6] | 90.90% | [6] | 66.70% | [4] | |||
Non Accrual [Member] | Total Investor Real Estate [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 108 | [1] | $ 108 | [1] | $ 165 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 43 | 43 | 40 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 65 | 65 | 125 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 20 | 20 | 26 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 45 | 45 | 99 | |||||
Impaired Financing Receivable, Related Allowance | $ 16 | $ 16 | $ 31 | ||||||
Impaired Financing Receivable, Coverage Percentage | 54.60% | [6] | 54.60% | [6] | 43.00% | [4] | |||
Non Accrual [Member] | Residential First Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 65 | [1] | $ 65 | [1] | $ 79 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 21 | 21 | 26 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 44 | 44 | 53 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 44 | 44 | 53 | |||||
Impaired Financing Receivable, Related Allowance | $ 6 | $ 6 | $ 7 | ||||||
Impaired Financing Receivable, Coverage Percentage | 41.50% | [6] | 41.50% | [6] | 41.80% | [4] | |||
Non Accrual [Member] | Home Equity [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 21 | [1] | $ 21 | [1] | $ 22 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 6 | 6 | 7 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 15 | 15 | 15 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 15 | 15 | 15 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 1 | ||||||
Impaired Financing Receivable, Coverage Percentage | 28.60% | [6] | 28.60% | [6] | 36.40% | [4] | |||
Non Accrual [Member] | Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 86 | [1] | $ 86 | [1] | $ 101 | [5] | |||
Impaired Financing Receivable Chargeoffs And Payments Applied | [2] | 27 | 27 | 33 | |||||
Impaired Financing Receivable, Recorded Investment | [3] | 59 | 59 | 68 | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | [3] | 0 | 0 | 0 | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | [3] | 59 | 59 | 68 | |||||
Impaired Financing Receivable, Related Allowance | $ 6 | $ 6 | $ 8 | ||||||
Impaired Financing Receivable, Coverage Percentage | 38.40% | [6] | 38.40% | [6] | 40.60% | [4] | |||
Accrual [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1,242 | $ 1,242 | $ 1,369 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 38 | [7] | 38 | [7] | 38 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 1,204 | 1,204 | 1,331 | |||||
Impaired Financing Receivable, Related Allowance | $ 122 | $ 122 | $ 137 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 12.90% | 12.90% | 12.80% | |||||
Accrual [Member] | Commercial And Industrial [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 86 | $ 86 | $ 102 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 2 | [7] | 2 | [7] | 3 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 84 | 84 | 99 | |||||
Impaired Financing Receivable, Related Allowance | $ 15 | $ 15 | $ 17 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 19.80% | 19.80% | 19.60% | |||||
Accrual [Member] | Commercial Real Estate Mortgage - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 144 | $ 144 | $ 162 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 10 | [7] | 10 | [7] | 10 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 134 | 134 | 152 | |||||
Impaired Financing Receivable, Related Allowance | $ 18 | $ 18 | $ 16 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 19.40% | 19.40% | 16.00% | |||||
Accrual [Member] | Commercial Real Estate Construction - Owner-Occupied [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1 | $ 1 | ||||||
Impaired Financing Receivable Chargeoffs And Payments Applied | [7] | 0 | 0 | ||||||
Impaired Financing Receivable, Recorded Investment | [3] | 1 | 1 | ||||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | |||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | ||||||
Accrual [Member] | Commercial Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 231 | $ 231 | $ 264 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 12 | [7] | 12 | [7] | 13 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 219 | 219 | 251 | |||||
Impaired Financing Receivable, Related Allowance | $ 33 | $ 33 | $ 33 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 19.50% | 19.50% | 17.40% | |||||
Accrual [Member] | Commercial Investor Real Estate Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 176 | $ 176 | $ 267 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 7 | [7] | 7 | [7] | 8 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 169 | 169 | 259 | |||||
Impaired Financing Receivable, Related Allowance | $ 21 | $ 21 | $ 28 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 15.90% | 15.90% | 13.50% | |||||
Accrual [Member] | Commercial Investor Real Estate Construction [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 30 | $ 30 | $ 33 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 0 | [7] | 0 | [7] | 0 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 30 | 30 | 33 | |||||
Impaired Financing Receivable, Related Allowance | $ 5 | $ 5 | $ 6 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 16.70% | 16.70% | 18.20% | |||||
Accrual [Member] | Total Investor Real Estate [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 206 | $ 206 | $ 300 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 7 | [7] | 7 | [7] | 8 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 199 | 199 | 292 | |||||
Impaired Financing Receivable, Related Allowance | $ 26 | $ 26 | $ 34 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 16.00% | 16.00% | 14.00% | |||||
Accrual [Member] | Residential First Mortgage [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 439 | $ 439 | $ 426 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 12 | [7] | 12 | [7] | 11 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 427 | 427 | 415 | |||||
Impaired Financing Receivable, Related Allowance | $ 55 | $ 55 | $ 57 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 15.30% | 15.30% | 16.00% | |||||
Accrual [Member] | Home Equity [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 349 | $ 349 | $ 359 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 7 | [7] | 7 | [7] | 6 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 342 | 342 | 353 | |||||
Impaired Financing Receivable, Related Allowance | $ 8 | $ 8 | $ 13 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 4.30% | 4.30% | 5.30% | |||||
Accrual [Member] | Indirect-vehicles [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 1 | $ 1 | $ 1 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 0 | [7] | 0 | [7] | 0 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 1 | 1 | 1 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Accrual [Member] | Consumer Credit Card Financing Receivable [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 2 | $ 2 | $ 2 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 0 | [7] | 0 | [7] | 0 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 2 | 2 | 2 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Accrual [Member] | Consumer Other Financing Receivable [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 14 | $ 14 | $ 17 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 0 | [7] | 0 | [7] | 0 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 14 | 14 | 17 | |||||
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | $ 0 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 0.00% | 0.00% | 0.00% | |||||
Accrual [Member] | Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Impaired Financing Receivable, Unpaid Principal Balance | [1] | $ 805 | $ 805 | $ 805 | |||||
Impaired Financing Receivable Chargeoffs And Payments Applied | 19 | [7] | 19 | [7] | 17 | [2] | |||
Impaired Financing Receivable, Recorded Investment | [3] | 786 | 786 | 788 | |||||
Impaired Financing Receivable, Related Allowance | $ 63 | $ 63 | $ 70 | ||||||
Impaired Financing Receivable, Coverage Percentage | [4] | 10.20% | 10.20% | 10.80% | |||||
[1] | Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. | ||||||||
[2] | Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. | ||||||||
[3] | Book value represents the unpaid principal balance less charge-offs and payments applied; it is shown before any allowance for loan losses. | ||||||||
[4] | Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. | ||||||||
[5] | Unpaid principal balance represents the contractual obligation due from the customer and includes the net book value plus charge-offs and payments applied. | ||||||||
[6] | Coverage % represents charge-offs and payments applied plus the related allowance as a percent of the unpaid principal balance. | ||||||||
[7] | Charge-offs and payments applied represents cumulative partial charge-offs taken, as well as interest payments received that have been applied against the outstanding principal balance. |
Loans and the Allowance for C52
Loans and the Allowance for Credit Losses (Loans By Class Modified In TDR) (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)Obligors | Jun. 30, 2014USD ($)Obligors | Jun. 30, 2015USD ($)Obligors | Jun. 30, 2014USD ($)Obligors | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 599 | 619 | 1,089 | 1,271 |
Recorded Investment | $ 134 | $ 290 | $ 280 | $ 604 |
Increase in Allowance at Modification | $ 5 | $ 11 | $ 12 | $ 16 |
Commercial And Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 62 | 58 | 103 | 149 |
Recorded Investment | $ 45 | $ 70 | $ 102 | $ 164 |
Increase in Allowance at Modification | $ 1 | $ 2 | $ 2 | $ 2 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 61 | 72 | 103 | 157 |
Recorded Investment | $ 37 | $ 77 | $ 62 | $ 147 |
Increase in Allowance at Modification | $ 1 | $ 2 | $ 2 | $ 3 |
Commercial Real Estate Construction - Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 2 | 3 | ||
Recorded Investment | $ 2 | $ 3 | ||
Increase in Allowance at Modification | $ 0 | $ 0 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 123 | 132 | 206 | 309 |
Recorded Investment | $ 82 | $ 149 | $ 164 | $ 314 |
Increase in Allowance at Modification | $ 2 | $ 4 | $ 4 | $ 5 |
Commercial investor real estate mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 31 | 52 | 60 | 150 |
Recorded Investment | $ 15 | $ 101 | $ 39 | $ 208 |
Increase in Allowance at Modification | $ 0 | $ 4 | $ 1 | $ 4 |
Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 12 | 13 | 13 | 28 |
Recorded Investment | $ 6 | $ 8 | $ 7 | $ 15 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Total Investor Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 43 | 65 | 73 | 178 |
Recorded Investment | $ 21 | $ 109 | $ 46 | $ 223 |
Increase in Allowance at Modification | $ 0 | $ 4 | $ 1 | $ 4 |
Residential First Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 96 | 139 | 229 | 264 |
Recorded Investment | $ 20 | $ 21 | $ 52 | $ 45 |
Increase in Allowance at Modification | $ 3 | $ 3 | $ 7 | $ 7 |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 187 | 185 | 312 | 339 |
Recorded Investment | $ 9 | $ 10 | $ 15 | $ 20 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Credit Card Financing Receivable [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 41 | 32 | 73 | 64 |
Recorded Investment | $ 1 | $ 0 | $ 1 | $ 0 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Indirect-vehicles and other consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 109 | 66 | 196 | 117 |
Recorded Investment | $ 1 | $ 1 | $ 2 | $ 2 |
Increase in Allowance at Modification | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Obligors | Obligors | 433 | 422 | 810 | 784 |
Recorded Investment | $ 31 | $ 32 | $ 70 | $ 67 |
Increase in Allowance at Modification | $ 3 | $ 3 | $ 7 | $ 7 |
Loans and the Allowance for C53
Loans and the Allowance for Credit Losses (Loans Modified In Past Twelve Months Which Subsequently Defaulted) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | $ 11 | $ 14 | $ 17 | $ 72 |
Commercial And Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 3 | 4 | 4 | 46 |
Commercial Real Estate Mortgage - Owner-Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 2 | 4 | 3 | 7 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 5 | 8 | 7 | 53 |
Commercial investor real estate mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 0 | 2 | 1 | 4 |
Commercial Investor Real Estate Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 0 | 0 | 0 | 1 |
Total Investor Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 0 | 2 | 1 | 5 |
Residential First Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 5 | 3 | 8 | 12 |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | 1 | 1 | 1 | 2 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Defaulted during period, where modified in a TDR twelve months prior to default | $ 6 | $ 4 | $ 9 | $ 14 |
Loans and the Allowance for C54
Loans and the Allowance for Credit Losses (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Amount of loans first reported as new TDRs | $ 154 | $ 209 | ||
Consumer Loans Default at 90 Days Past Due and Still Accruing | 90 days | |||
Re-Defaulted Commercial And Investor Real Estate Loans Modified In Tdr During Period And On Non Accrual Status | $ 36 | |||
Re-Defaulted Commercial And Investor Real Estate Loans Modified In Tdr During Period On Non Accrual Status and 90 days or more past due | 1 | |||
Total Restructured Binding Unfunded Commitment | 84 | 84 | ||
Federal Home Loan Bank [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Pledged loans | 13,300 | 13,300 | ||
Federal Reserve Bank [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Pledged loans | 31,100 | 31,100 | ||
Indirect-vehicles and Indirect-other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Indirect-vehicles and Indirect-other consumer loans purchased | $ 291 | $ 272 | 547 | $ 518 |
Residential First Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructuring Modification Recorded Investment In Excess Of One Hundred Eighty Days Past Due And Collateral Dependent | $ 49 | |||
Residential First Mortgage [Member] | Minimum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing period for consumer loans, in years | 15 years | |||
Residential First Mortgage [Member] | Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing period for consumer loans, in years | 30 years | |||
Home Equity First Lien [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructuring Modification Recorded Investment In Excess Of One Hundred Eighty Days Past Due And Collateral Dependent | $ 8 | |||
Home Equity Second Lien [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
TDRs in excess of 120 days past due and collateral dependent | $ 4 |
Servicing of Financial Assets55
Servicing of Financial Assets (Analysis Of Mortgage Servicing Rights Under The Fair Value Measurement Method) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||||
Carrying value, beginning of period | $ 239 | $ 288 | $ 257 | $ 297 | |
Additions | 12 | 7 | 19 | 15 | |
Increase (decrease) in fair value, due to change in valuation inputs or assumptions | [1] | 28 | (10) | 11 | (20) |
Increase (decrease) in fair value, economic amortization associated with borrower repayments | [1] | (11) | (9) | (19) | (16) |
Carrying value, end of period | $ 268 | $ 276 | $ 268 | $ 276 | |
[1] | "Economic amortization associated with borrower repayments" includes both total loan payoffs as well as partial paydowns. Prior to the fourth quarter of 2014, this line item reflected total loan payoffs only, while partial paydowns were included in the "Due to change in valuation inputs or assumptions" line item. The 2014 three and six months ended amount disclosed in the table has been reclassified to reflect the revised presentation. |
Servicing of Financial Assets56
Servicing of Financial Assets (Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Mortgage Servicing Rights) (Details) - Financial Instruments [Domain] $ in Millions | 6 Months Ended | |
Jun. 30, 2015USD ($)BasisPoint | Jun. 30, 2014USD ($)BasisPoint | |
Servicing Assets at Fair Value [Line Items] | ||
Unpaid principal balance | $ 26,637 | $ 27,261 |
Weighted-average prepayment speed (CPR; percentage) | 10.00% | 10.40% |
Estimated impact on fair value of a 10% increase in prepayment speed | $ (15) | $ (14) |
Estimated impact on fair value of a 20% increase in prepayment speed | $ (27) | $ (27) |
Option-adjusted spread (basis points) | BasisPoint | 998 | 888 |
Estimated impact on fair value of a 10% increase in other assumptions | $ (11) | $ (9) |
Estimated impact on fair value of a 20% increase in other assumptions | $ (21) | $ (18) |
Residential Mortgage Servicing Rights Weighted Average Coupon Interest Rate | 4.40% | 4.50% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Weighted Average Life | 279 months | 278 months |
Weighted Average Servicing Fee Basis Points | BasisPoint | 27.8 | 27.8 |
Servicing of Financial Assets57
Servicing of Financial Assets (Schedule Of Fees Resulting From The Servicing Of Mortgage Loans) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Transfers and Servicing of Financial Assets [Abstract] | ||||
Servicing related fees and other ancillary income | $ 20 | $ 22 | $ 41 | $ 43 |
Servicing of Financial Assets58
Servicing of Financial Assets (Analysis Of Repurchase Liability Related To Mortgage Loans Sold With Representations And Warranty Provisions) (Details) - Obligation to Repurchase Receivables Sold [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Valuation Allowances and Reserves, Beginning Balance | $ 26 | $ 39 | $ 26 | $ 39 |
Additions | (5) | (2) | (4) | 1 |
Losses | (1) | (3) | (2) | (6) |
Valuation Allowances and Reserves, Ending Balance | $ 20 | $ 34 | $ 20 | $ 34 |
Servicing of Financial Assets59
Servicing of Financial Assets (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Jul. 18, 2014 | Jun. 30, 2014 |
Servicing Assets at Fair Value [Line Items] | |||
Unpaid principal balance | $ 26,637 | $ 27,261 | |
Licensing Agreements [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Other Intangible Assets, Net | $ 15 | ||
DUS Portfolio [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Unpaid principal balance | 1,000 | 1,000 | |
Commercial Real Estate [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Servicing Asset at Amortized Cost | 12 | 12 | |
Loss Share Guarantee | $ 2 | $ 4 |
Goodwill (Schedule of Goodwill)
Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Goodwill [Line Items] | ||
Goodwill | $ 4,816 | $ 4,816 |
Corporate Bank [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,258 | 2,258 |
Consumer Bank [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 2,095 | 2,095 |
Wealth Management [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $ 463 | $ 463 |
Preferred Stock Issuances (Deta
Preferred Stock Issuances (Details) - Scenario, Unspecified [Domain] - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | ||
Class of Stock [Line Items] | |||
Preferred Stock, Liquidation Preference, Value | $ 1,000 | ||
Preferred Stock, Carrying Amount | $ 852 | $ 884 | |
Series A Preferred Stock [Member] | |||
Class of Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||
Preferred Stock, Liquidation Preference, Value | $ 500 | ||
Preferred Stock, Carrying Amount | $ 403 | 419 | |
Series B Preferred Stock [Member] | |||
Class of Stock [Line Items] | |||
Preferred Stock, Dividend Rate, Percentage | [1] | 6.375% | |
Preferred Stock, Liquidation Preference, Value | $ 500 | ||
Preferred Stock, Carrying Amount | $ 449 | $ 465 | |
[1] | Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536%. |
Schedule of Accumulated Other C
Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | $ (115) | $ (229) | $ (238) | $ (319) |
Other comprehensive income (loss), net of tax | (172) | 177 | (49) | 267 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (287) | (52) | (287) | (52) |
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (53) | (62) | (55) | (64) |
Other comprehensive income (loss), net of tax | 2 | 2 | 4 | 4 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | (51) | (60) | (51) | (60) |
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 252 | 56 | 175 | (22) |
Other comprehensive income (loss), net of tax | (156) | 147 | (79) | 225 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | 96 | 203 | 96 | 203 |
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | 70 | 21 | 33 | 15 |
Other comprehensive income (loss), net of tax | (25) | 23 | 12 | 29 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | 45 | 44 | 45 | 44 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period Start | (384) | (244) | (391) | (248) |
Other comprehensive income (loss), net of tax | 7 | 5 | 14 | 9 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Period End | $ (377) | $ (239) | $ (377) | $ (239) |
Reclassification from Accumulat
Reclassification from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Interest Income (Expense), Net | $ 820 | $ 823 | $ 1,635 | $ 1,639 | |
Securities gains (losses), net | 6 | 6 | 11 | 8 | |
Salaries and employee benefits | (477) | (443) | (935) | (898) | |
Income tax (expense) benefit | (124) | (148) | (219) | (299) | |
Net income | 285 | 296 | 519 | 611 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Net income | [1] | 16 | 16 | 30 | 28 |
Accumulated Net Unrealized Loss on Held To Maturity Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Interest Income (Expense), Net | [1] | (4) | (4) | (7) | (7) |
Income tax (expense) benefit | [1] | 2 | 2 | 3 | 3 |
Net income | [1] | (2) | (2) | (4) | (4) |
Accumulated Net Unrealized Securities Available For Sale Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Securities gains (losses), net | [1] | 6 | 6 | 11 | 8 |
Income tax (expense) benefit | [1] | (2) | (2) | (4) | (3) |
Net income | [1] | 4 | 4 | 7 | 5 |
Accumulated Net Gain (Loss) from Derivative Instruments Designated as Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Interest Income (Expense), Net | [1] | 34 | 29 | 67 | 57 |
Income tax (expense) benefit | [1] | (13) | (11) | (25) | (22) |
Net income | [1] | 21 | 18 | 42 | 35 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | [1] | (12) | (6) | (24) | (12) |
Income tax (expense) benefit | [1] | 5 | 2 | 9 | 4 |
Net income | [1] | (7) | (4) | (15) | (8) |
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost (Credit) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | [1],[2] | 0 | (1) | 0 | (1) |
Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | [1],[2] | $ (12) | $ (5) | $ (24) | $ (11) |
[1] | Amounts in parentheses indicate reductions to net income. | ||||
[2] | These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost and are included in salaries and employee benefits on the consolidated statements of income (see Note 10 for additional details). |
Stockholders' Equity And Accu64
Stockholders' Equity And Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Apr. 23, 2015 | Aug. 04, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 15, 2024 | Apr. 24, 2014 | |
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividends, Preferred Stock | $ 32 | $ 16 | |||||||||
Cash dividend declared (in dollars per share) | $ 0.06 | $ 0.06 | $ 0.05 | $ 0.05 | $ 0.03 | $ 0.11 | $ 0.08 | ||||
Stock Repurchase Program, Authorized Amount | $ 875 | $ 350 | |||||||||
Shares repurchased | 17 | 11 | |||||||||
Payments for Repurchase of Common Stock | $ 172 | $ 102 | $ 274 | $ 8 | |||||||
Subsequent Event [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Shares repurchased | 10 | ||||||||||
Payments for Repurchase of Common Stock | $ 101 | ||||||||||
Series A Preferred Stock [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||||||||
Dividends, Preferred Stock | $ 8 | 8 | $ 8 | $ 8 | |||||||
Series A Preferred Stock [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, Redemption Terms | 90 days | ||||||||||
Series B Preferred Stock [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, Dividend Rate, Percentage | [1] | 6.375% | |||||||||
Dividends, Preferred Stock | $ 8 | $ 8 | |||||||||
Series B Preferred Stock [Member] | Series B Preferred Stock Dividend Scenario 1 [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.375% | ||||||||||
Series B Preferred Stock [Member] | Series B Preferred Stock Dividend Scenario 2 [Member] | Plus 3-Month LIBOR [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, Dividend Rate, Basis Spread on Variable Rate, Percentage | 3.536% | ||||||||||
Preferred Stock [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000 | |||||||||
Preferred Stock [Member] | Depositary Shares [Member] | |||||||||||
Stockholders' Equity And Comprehensive Income (Loss) [Line Items] | |||||||||||
Preferred Stock, liquidation preference per share (in dollars per share) | $ 25 | $ 25 | |||||||||
[1] | Dividends, if declared, will be paid quarterly at an annual rate equal to (i) for each period beginning prior to September 15, 2024, 6.375%, and (ii) for each period beginning on or after September 15, 2024, three-month LIBOR plus 3.536%. |
Earnings (Loss) Per Common Sh65
Earnings (Loss) Per Common Share (Computation Of Basic And Diluted Earnings (Loss) Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Numerator: | |||||
Income from continuing operations | $ 289 | $ 295 | $ 525 | $ 598 | |
Preferred stock dividends | (16) | (8) | (32) | (16) | |
Income from continuing operations available to common shareholders | 273 | 287 | 493 | 582 | |
Income (loss) from discontinued operations, net of tax | (4) | 1 | (6) | 13 | |
Net income available to common shareholders | $ 269 | $ 288 | $ 487 | $ 595 | |
Denominator: | |||||
Weighted-average common shares outstanding—basic | 1,335 | 1,378 | 1,340 | 1,378 | |
Potential common shares | 11 | 12 | 12 | 12 | |
Weighted-average common shares outstanding—diluted | 1,346 | 1,390 | 1,352 | 1,390 | |
Earnings per common share from continuing operations: | |||||
Basic (in dollars per share) | [1] | $ 0.20 | $ 0.21 | $ 0.37 | $ 0.42 |
Diluted (in dollars per share) | [1] | 0.20 | 0.21 | 0.36 | 0.42 |
Earning (Loss) Per Common Share From Discontinued Operations [Abstract] | |||||
Basic (in dollars per share) | [1] | 0 | 0 | 0 | 0.01 |
Diluted (in dollars per share) | [1] | 0 | 0 | 0 | 0.01 |
Earnings per common share | |||||
Basic (in dollars per share) | [1] | 0.20 | 0.21 | 0.36 | 0.43 |
Diluted (in dollars per share) | [1] | $ 0.20 | $ 0.21 | $ 0.36 | $ 0.43 |
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 30 | 23 | 29 | 24 | |
[1] | Certain per share amounts may not appear to reconcile due to rounding. |
Share-Based Payments (Summary O
Share-Based Payments (Summary Of Activity Related To Stock Options) (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Number of Options, Outstanding at beginning of period | 25,316,676 | 32,127,235 |
Number of Options, Exercised | (291,460) | (1,852,880) |
Number of Options, Canceled/Forfeited | (5,301,942) | (4,386,408) |
Number of Options, Outstanding at end of period | 19,723,274 | 25,887,947 |
Number of Options, Exercisable at end of period | 19,723,274 | 25,843,106 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Weighted-Average Exercise Price, Outstanding at beginning of period (in dollars per share) | $ 23.07 | $ 22.81 |
Weighted-Average Exercise Price, Exercised (in dollars per share) | 6.96 | 4.11 |
Weighted-Average Exercise Price, Canceled/Forfeited (in dollars per share) | 31.95 | 30.48 |
Weighted-Average Exercise Price, Outstanding at end of period (in dollars per share) | 20.92 | 22.85 |
Weighted-Average Exercise Price, Exercisable at end of period (in dollars per share) | $ 20.92 | $ 22.87 |
Share-Based Payments (Summary67
Share-Based Payments (Summary Of Restricted Stock Award And Unit Activity) (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Shares, Non-vested at beginning of period | 18,427,409 | 16,212,198 |
Number of Shares, Granted | 6,603,342 | 5,345,093 |
Number of Shares, Vested | (7,968,049) | (2,471,617) |
Number of Shares, Forfeited | (371,998) | (178,505) |
Number of Shares, Non-vested at end of period | 16,690,704 | 18,907,169 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Weighted-Average Grant Date Fair Value, Non-vested at beginning of period (in dollars per share) | $ 8.07 | $ 6.83 |
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | 9.90 | 11.22 |
Weighted-Average Grant Date Fair Value, Vested (in dollars per share) | 6.01 | 6.83 |
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share) | 8.18 | 7.42 |
Weighted-Average Grant Date Fair Value, Non-vested at end of period (in dollars per share) | $ 9.50 | $ 8.06 |
Share-Based Payments (Narrative
Share-Based Payments (Narrative) (Details) - shares shares in Millions | 6 Months Ended | |
Jun. 30, 2015 | Apr. 23, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period of stock options and restricted stock (in years) | 3 years | |
Contractual lives of options granted under long-term incentive compensation plans | 10 years | |
Number of remaining share equivalents authorized for issuance under the long term compensation plan | 60 | |
Number of remaining share equivalents authorized for issuance under the long term compensation plan | 54 |
Pension and Other Postretirem69
Pension and Other Postretirement Benefits (Schedule of Net Periodic Pension Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | $ 12 | $ 9 | $ 23 | $ 18 |
Interest Cost | 23 | 24 | 45 | 47 |
Expected Return on Plan Assets | (38) | (35) | (74) | (69) |
Amortization of Actuarial Loss | 12 | 5 | 24 | 11 |
Amortization of Prior Service Cost | 0 | 1 | 0 | 1 |
Settlement Charge | 0 | 3 | 0 | 3 |
Net Periodic Pension Cost | 9 | 7 | 18 | 11 |
Qualified [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 10 | 8 | 20 | 16 |
Interest Cost | 21 | 22 | 42 | 44 |
Expected Return on Plan Assets | (38) | (35) | (74) | (69) |
Amortization of Actuarial Loss | 11 | 5 | 22 | 10 |
Amortization of Prior Service Cost | 0 | 0 | 0 | 0 |
Settlement Charge | 0 | 0 | 0 | 0 |
Net Periodic Pension Cost | 4 | 0 | 10 | 1 |
Non-qualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service Cost | 2 | 1 | 3 | 2 |
Interest Cost | 2 | 2 | 3 | 3 |
Expected Return on Plan Assets | 0 | 0 | 0 | 0 |
Amortization of Actuarial Loss | 1 | 0 | 2 | 1 |
Amortization of Prior Service Cost | 0 | 1 | 0 | 1 |
Settlement Charge | 0 | 3 | 0 | 3 |
Net Periodic Pension Cost | $ 5 | $ 7 | $ 8 | $ 10 |
Pension and Other Postretirem70
Pension and Other Postretirement Benefits Narrative (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2015USD ($) | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Defined Benefit Plan, Contributions by Employer | $ 150 |
Income Taxes Income Taxes Narra
Income Taxes Income Taxes Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Income Tax Examination [Line Items] | ||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | $ 6 | |
Unrecognized Tax Benefits | 44 | $ 50 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 29 | $ 34 |
Internal Revenue Service (IRS) [Member] | ||
Income Tax Examination [Line Items] | ||
Tax Adjustments, Settlements, and Unusual Provisions | 4 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 3 | |
State and Local Jurisdiction [Member] | ||
Income Tax Examination [Line Items] | ||
Tax Adjustments, Settlements, and Unusual Provisions | $ 3 |
Derivative Financial Instrume72
Derivative Financial Instruments And Hedging Activities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Disclosure Derivative Financial Instruments And Hedging Activities Narrative [Abstract] | |||||
Terminated Cash Flow Hedge Unrealized Gain (Loss) To Be Reclassified From Oci, After Tax Amount | $ 18 | $ 48 | |||
Pre-tax income related to amortization of cash flow hedges of loan and debt instruments | $ 11 | $ 13 | 22 | $ 24 | |
Cash flow hedge gain expected to be reclassified from other comprehensive income into earnings within the next 12 months | 100 | ||||
Pre-tax net income related to amortization of discontinued cash flow hedges | $ 27 | ||||
Maximum Length of Time Hedged in Cash Flow Hedge | 6 years | ||||
Notional amount of interest rate lock commitments | 443 | $ 443 | $ 233 | ||
Notional amount of forward rate commitments | 859 | 859 | 621 | ||
Notional amount of forward rate commitments and futures contracts to hedge against mortgage servicing rights | 3,400 | 3,400 | 3,700 | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 392 | 392 | 392 | ||
Maximum potential future exposure on swap participations | 99 | 99 | |||
Aggregate fair value of all derivative instruments with credit risk | 235 | 235 | 272 | ||
Posted collateral related to derivative instruments with credit risk | $ 234 | $ 234 | $ 272 |
Derivative Financial Instrume73
Derivative Financial Instruments and Hedging Activities (Schedule of Derivative Instruments Notional and Fair Value) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative, Notional Amount | $ 76,141 | $ 81,870 | |
Derivative Asset, Fair Value, Gross Asset | [1] | 758 | 1,215 |
Derivative Liability, Fair Value, Gross Liability | [1] | 742 | 1,254 |
Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 11,167 | 10,867 | |
Derivative Asset, Fair Value, Gross Asset | [1] | 68 | 44 |
Derivative Liability, Fair Value, Gross Liability | [1] | 27 | 61 |
Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 64,974 | 71,003 | |
Derivative Asset, Fair Value, Gross Asset | [1] | 690 | 1,171 |
Derivative Liability, Fair Value, Gross Liability | [1] | 715 | 1,193 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 40,012 | 45,860 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Options [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 2,991 | 3,016 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Futures And Forward Commitments [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 17,530 | 17,978 | |
Not Designated as Hedging Instrument [Member] | Other Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 4,441 | 4,149 | |
Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Fair Value Hedge Assets | [1] | 8 | 6 |
Cash Flow Hedge Derivative Instrument Assets at Fair Value | [1] | 60 | 38 |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 528 | 941 |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Options [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 17 | 10 |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Futures And Forward Commitments [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 11 | 3 |
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Other Contract [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 134 | 217 |
Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Fair Value Hedge Liabilities | [1] | 15 | 30 |
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | [1] | 12 | 31 |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 575 | 972 |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Options [Member] | |||
Derivative [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 1 | 2 |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Futures And Forward Commitments [Member] | |||
Derivative [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 5 | 8 |
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Other Contract [Member] | |||
Derivative [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 134 | 211 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 8,950 | 8,050 | |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | $ 2,217 | $ 2,817 | |
[1] | Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. |
Derivative Financial Instrume74
Derivative Financial Instruments And Hedging Activities (Schedule Of The Effect Of Derivative Instruments On The Statements Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income on Derivatives | $ 22 | $ (18) | $ 9 | $ (39) | |
Amount of Gain (Loss) Recognized in Income on Related Hedged Item | (20) | 27 | (4) | 52 | |
Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion) | [1],[2] | (25) | 23 | 12 | 29 |
Gain or (Loss) Reclassified from AOCI into Income | [2],[3] | 34 | 29 | 67 | 57 |
Interest Expense [Member] | Forward Starting Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion) | [1],[2] | 0 | 1 | 0 | 3 |
Gain or (Loss) Reclassified from AOCI into Income | [2],[3] | 0 | (2) | 0 | (5) |
Interest Income On Loans [Member] | Interest Rate Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion) | [1],[2] | (25) | 22 | 12 | 26 |
Gain or (Loss) Reclassified from AOCI into Income | [2],[3] | 34 | 31 | 67 | 62 |
Debt/CDs [Member] | Interest Expense [Member] | Interest Rate Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income on Derivatives | 4 | 6 | 8 | 15 | |
Amount of Gain (Loss) Recognized in Income on Related Hedged Item | 2 | 6 | 6 | 8 | |
Debt/CDs [Member] | Other Non-Interest Expense [Member] | Interest Rate Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income on Derivatives | (3) | (6) | 4 | (14) | |
Amount of Gain (Loss) Recognized in Income on Related Hedged Item | 3 | 8 | (4) | 17 | |
Available-for-sale Securities [Member] | Other Non-Interest Expense [Member] | Interest Rate Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income on Derivatives | 25 | (14) | 5 | (32) | |
Amount of Gain (Loss) Recognized in Income on Related Hedged Item | (25) | 13 | (6) | 27 | |
Available-for-sale Securities [Member] | Interest Income [Member] | Interest Rate Swaps [Member] | |||||
Derivative Instruments And Hedging Activities [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income on Derivatives | (4) | (4) | (8) | (8) | |
Amount of Gain (Loss) Recognized in Income on Related Hedged Item | $ 0 | $ 0 | $ 0 | $ 0 | |
[1] | After-tax | ||||
[2] | All cash flow hedges were highly effective for all periods presented, and the change in fair value attributed to hedge ineffectiveness was not material | ||||
[3] | Pre-tax |
Derivative Financial Instrume75
Derivative Financial Instruments and Hedging Activities (Schedule of Gains (Losses) Recognized Related to Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (19) | $ 15 | $ 12 | $ 26 | |
Capital Markets Fee Income [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [1] | (3) | 6 | 4 | 10 |
Capital Markets Fee Income [Member] | Interest Rate Swaps [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [1] | 4 | 3 | 8 | 5 |
Capital Markets Fee Income [Member] | Interest Rate Options [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [1] | 4 | 0 | 4 | 0 |
Capital Markets Fee Income [Member] | Interest Rate Futures And Forward Commitments [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [1] | 0 | (1) | (1) | (1) |
Capital Markets Fee Income [Member] | Other Contract [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | [1] | (11) | 4 | (7) | 6 |
Mortgage Income [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (16) | 9 | 8 | 16 | |
Mortgage Income [Member] | Interest Rate Swaps [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (16) | 10 | (3) | 18 | |
Mortgage Income [Member] | Interest Rate Options [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (3) | 3 | 4 | 6 | |
Mortgage Income [Member] | Interest Rate Futures And Forward Commitments [Member] | |||||
Derivative [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 3 | $ (4) | $ 7 | $ (8) | |
[1] | Capital markets fee income and other is included in Other income on the consolidated statements of income. |
Derivative Financial Instrume76
Derivative Financial Instruments and Hedging Activities (Offsetting Derivatives) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | |
Offsetting Derivative Asset Securities Purchased Under Agreements to Resell Securities Borrowed [Abstract] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 758 | $ 1,215 |
Amount Offset Against Collateral | [2] | 361 | 815 |
Derivative Assets | 397 | 400 | |
Financial instruments | 5 | 8 | |
Cash collateral received/posted | 0 | 0 | |
Net amounts | 392 | 392 | |
Offsetting Derivative Liability Securities Sold Under Agreements to Resell Securities Loaned [Abstract] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 742 | 1,254 |
Amount Offset Against Collateral | [2] | 589 | 1,054 |
Derivative Liabilities | 153 | 200 | |
Financial instruments | 12 | 0 | |
Cash collateral received/posted | 12 | 29 | |
Net amounts | 129 | 171 | |
Cash collateral received, offset | 82 | 111 | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 309 | 354 | |
Subject to offsetting [Member] | |||
Offsetting Derivative Asset Securities Purchased Under Agreements to Resell Securities Borrowed [Abstract] | |||
Derivative Asset, Fair Value, Gross Asset | 679 | 1,157 | |
Offsetting Derivative Liability Securities Sold Under Agreements to Resell Securities Loaned [Abstract] | |||
Derivative Liability, Fair Value, Gross Liability | 673 | 1,195 | |
Not subject to offsetting [Member] | |||
Offsetting Derivative Asset Securities Purchased Under Agreements to Resell Securities Borrowed [Abstract] | |||
Derivative Asset, Fair Value, Gross Asset | 79 | 58 | |
Offsetting Derivative Liability Securities Sold Under Agreements to Resell Securities Loaned [Abstract] | |||
Derivative Liability, Fair Value, Gross Liability | $ 69 | $ 59 | |
[1] | Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets. | ||
[2] | At June 30, 2015, gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $82 million and cash collateral posted of $309 million. At December 31, 2014, gross amounts of derivative assets and liabilities offset in the consolidated balance sheets presented above include cash collateral received of $111 million and cash collateral posted of $354 million. |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities At Fair Value Measured On A Recurring Basis And Non-Recurring Basis) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | $ 110 | $ 106 | |||||
Securities available for sale | 22,672 | 22,580 | |||||
Servicing Asset at Fair Value, Amount | 268 | $ 239 | 257 | $ 276 | $ 288 | $ 297 | |
Derivative Asset | 397 | 400 | |||||
Derivative Liabilities | 153 | 200 | |||||
Loans held for sale, at fair value | 466 | 440 | |||||
Federal Reserve Bank Stock | 484 | 488 | |||||
Federal Home Loan Bank Stock | 144 | 39 | |||||
Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 110 | 106 | |||||
Securities available for sale | 22,044 | 22,053 | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 466 | 440 | |||||
Servicing Asset at Fair Value, Amount | 268 | 257 | |||||
Derivative Asset | 758 | 1,215 | |||||
Derivative Liabilities | 742 | 1,254 | |||||
Nonrecurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale, at fair value | 8 | 33 | |||||
Fair Value Foreclosed Property And Other Real Estate And Equipment Nonrecurring Basis | 83 | 49 | |||||
Level 1 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 110 | 106 | |||||
Securities available for sale | 405 | 322 | |||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Loans held for sale, at fair value | 0 | 0 | |||||
Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 110 | 106 | |||||
Securities available for sale | 405 | 322 | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||||
Servicing Asset at Fair Value, Amount | 0 | 0 | |||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Level 1 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale, at fair value | 0 | 0 | |||||
Fair Value Foreclosed Property And Other Real Estate And Equipment Nonrecurring Basis | 0 | 0 | |||||
Level 2 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 0 | 0 | |||||
Securities available for sale | 22,258 | 22,247 | |||||
Derivative Asset | 743 | 1,207 | |||||
Derivative Liabilities | 742 | 1,254 | |||||
Loans held for sale, at fair value | 466 | 440 | |||||
Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 0 | 0 | |||||
Securities available for sale | 21,630 | 21,720 | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 466 | 440 | |||||
Servicing Asset at Fair Value, Amount | 0 | 0 | |||||
Derivative Asset | 743 | 1,207 | |||||
Derivative Liabilities | 742 | 1,254 | |||||
Level 2 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale, at fair value | 0 | 0 | |||||
Fair Value Foreclosed Property And Other Real Estate And Equipment Nonrecurring Basis | 37 | 41 | |||||
Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 0 | 0 | |||||
Securities available for sale | 9 | 11 | |||||
Derivative Asset | 15 | 8 | |||||
Derivative Liabilities | 0 | 0 | |||||
Loans held for sale, at fair value | 45 | 101 | |||||
Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Trading Securities | 0 | 0 | |||||
Securities available for sale | 9 | 11 | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||||
Servicing Asset at Fair Value, Amount | 268 | 257 | |||||
Derivative Asset | 15 | 8 | |||||
Derivative Liabilities | 0 | 0 | |||||
Level 3 [Member] | Nonrecurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Loans held for sale, at fair value | 8 | 33 | |||||
Fair Value Foreclosed Property And Other Real Estate And Equipment Nonrecurring Basis | 46 | 8 | |||||
Interest Rate Swaps [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 596 | 985 | |||||
Derivative Liabilities | 602 | 1,033 | |||||
Interest Rate Swaps [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Interest Rate Swaps [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 596 | 985 | |||||
Derivative Liabilities | 602 | 1,033 | |||||
Interest Rate Swaps [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Interest Rate Options [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 17 | 10 | |||||
Derivative Liabilities | 1 | 2 | |||||
Interest Rate Options [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Interest Rate Options [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 2 | 2 | |||||
Derivative Liabilities | 1 | 2 | |||||
Interest Rate Options [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 15 | 8 | |||||
Derivative Liabilities | 0 | 0 | |||||
Interest Rate Futures And Forward Commitments [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 11 | 3 | |||||
Derivative Liabilities | 5 | 8 | |||||
Interest Rate Futures And Forward Commitments [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Interest Rate Futures And Forward Commitments [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 11 | 3 | |||||
Derivative Liabilities | 5 | 8 | |||||
Interest Rate Futures And Forward Commitments [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Other Contract [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 134 | 217 | |||||
Derivative Liabilities | 134 | 211 | |||||
Other Contract [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
Other Contract [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 134 | 217 | |||||
Derivative Liabilities | 134 | 211 | |||||
Other Contract [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Derivative Asset | 0 | 0 | |||||
Derivative Liabilities | 0 | 0 | |||||
US Treasury Securities [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 181 | 176 | |||||
US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 181 | 176 | |||||
US Treasury Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 181 | 176 | |||||
US Treasury Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
US Treasury Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Federal Agency Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 228 | 235 | |||||
Federal Agency Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Federal Agency Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 228 | 235 | |||||
Federal Agency Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Obligations of States and Political Subdivisions [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2 | 2 | |||||
Obligations of States and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2 | 2 | |||||
Obligations of States and Political Subdivisions [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Obligations of States and Political Subdivisions [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2 | 2 | |||||
Obligations of States and Political Subdivisions [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Residential Agency [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 15,942 | 16,038 | |||||
Residential Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 15,942 | 16,038 | |||||
Residential Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Residential Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 15,942 | 16,038 | |||||
Residential Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Residential Non Agency [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 6 | 8 | |||||
Residential Non Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 6 | 8 | |||||
Residential Non Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Residential Non Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Residential Non Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 6 | 8 | |||||
Commercial Agency [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2,176 | 1,964 | |||||
Commercial Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2,176 | 1,964 | |||||
Commercial Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Commercial Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 2,176 | 1,964 | |||||
Commercial Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Commercial Non Agency [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,481 | 1,494 | |||||
Commercial Non Agency [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,481 | 1,494 | |||||
Commercial Non Agency [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Commercial Non Agency [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,481 | 1,494 | |||||
Commercial Non Agency [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Corporate and Other Debt Securities [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,804 | 1,990 | |||||
Corporate and Other Debt Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,804 | 1,990 | |||||
Corporate and Other Debt Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 0 | 0 | |||||
Corporate and Other Debt Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 1,801 | 1,987 | |||||
Corporate and Other Debt Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 3 | 3 | |||||
Equity Securities [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | 852 | 673 | |||||
Federal Reserve Bank Stock | 484 | 488 | |||||
Federal Home Loan Bank Stock | 144 | 39 | |||||
Equity Securities [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | [1] | 224 | 146 | ||||
Equity Securities [Member] | Level 1 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | [1] | 224 | 146 | ||||
Equity Securities [Member] | Level 2 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | [1] | 0 | 0 | ||||
Equity Securities [Member] | Level 3 [Member] | Recurring Fair Value Measurements [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Securities available for sale | [1] | $ 0 | $ 0 | ||||
[1] | Excludes Federal Reserve Bank and Federal Home Loan Bank Stock totaling $484 million and $144 million at June 30, 2015 and $488 million and $39 million at December 31, 2014, respectively. |
Fair Value Measurements (Rollfo
Fair Value Measurements (Rollforward For Assets And Liabilities Measured At Fair Value On A Recurring Basis With Level 3 Significant Unobservable Inputs) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Residential Non Agency [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | $ 7 | $ 9 | $ 8 | $ 9 | |
Gain (Loss) Included in Earnings | 0 | 0 | 0 | 0 | |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (1) | 0 | (2) | 0 | |
Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |
Closing balance | 6 | 9 | 6 | 9 | |
Corporate and Other Debt Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | 3 | 3 | 3 | 2 | |
Gain (Loss) Included in Earnings | 0 | 0 | 0 | 0 | |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 3 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | (1) | 0 | (3) | |
Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |
Closing balance | 3 | 2 | 3 | 2 | |
Available-for-sale Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | 10 | 12 | 11 | 11 | |
Gain (Loss) Included in Earnings | 0 | 0 | 0 | 0 | |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 3 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (1) | (1) | (2) | (3) | |
Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |
Closing balance | 9 | 11 | 9 | 11 | |
Residential Mortgage Servicing Rights [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | 239 | 288 | 257 | 297 | |
Gain (Loss) Included in Earnings | [1] | 17 | (19) | (8) | (36) |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |
Purchases | 12 | 7 | 19 | 15 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |
Closing balance | 268 | 276 | 268 | 276 | |
Derivative [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Opening balance | 14 | 8 | 8 | 5 | |
Gain (Loss) Included in Earnings | [1] | 21 | 29 | 49 | 50 |
Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 | |
Purchases | 4 | 0 | 4 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (24) | (25) | (46) | (43) | |
Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Transfers Out Of Level 3 | 0 | 0 | 0 | 0 | |
Closing balance | $ 15 | $ 12 | $ 15 | $ 12 | |
[1] | Primarily included in mortgage income. |
Fair Value Measurements (Sche79
Fair Value Measurements (Schedule Of Fair Value Adjustments Related To Non-Recurring Fair Value Measurements) (Details) - Nonrecurring Fair Value Measurements [Member] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Loans Held For Sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (4) | $ (8) | $ (11) | $ (23) |
Foreclosed Property And Other Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, Fair Value Adjustment | $ (40) | $ (7) | $ (47) | $ (14) |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Quantitative Information About Level 3 Fair Value Measurements) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Loans held for sale, at fair value | $ 466 | $ 440 | ||
Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Loans held for sale, at fair value | 45 | 101 | ||
Residential Non Agency [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Available-for-sale Securities | 6 | 8 | ||
Corporate and Other Debt Securities [Member] | Comparable Evaluated Quote [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Available-for-sale Securities | 3 | 3 | ||
Residential Mortgage Servicing Rights [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Available-for-sale Securities | 268 | [1] | 257 | [2] |
Interest rate options on residential mortgage loans [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Available-for-sale Securities | 11 | 8 | ||
Interest Rate Options on commercial morgage loans [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Available-for-sale Securities | 4 | |||
Foreclosed Property And Other Real Estate [Member] | Property Appraisal [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 24 | $ 8 | ||
Foreclosed Property And Other Real Estate [Member] | Estimated Third-Party valuations [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | $ 22 | |||
Recurring Fair Value Measurements [Member] | Residential Non Agency [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Spread to LIBOR | 5.40% | 5.40% | ||
Fair Value Inputs, Prepayment Rate | 4.60% | 6.30% | ||
Fair Value Inputs, Probability of Default | 1.40% | 1.40% | ||
Fair Value Inputs, Loss Severity | 40.70% | 37.40% | ||
Recurring Fair Value Measurements [Member] | Residential Non Agency [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Spread to LIBOR | 49.90% | 49.90% | ||
Fair Value Inputs, Prepayment Rate | 30.60% | 15.00% | ||
Fair Value Inputs, Probability of Default | 1.40% | 1.40% | ||
Fair Value Inputs, Loss Severity | 40.70% | 37.40% | ||
Recurring Fair Value Measurements [Member] | Residential Non Agency [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Spread to LIBOR | 14.60% | 12.30% | ||
Fair Value Inputs, Prepayment Rate | 11.10% | 9.50% | ||
Fair Value Inputs, Probability of Default | 1.40% | 1.40% | ||
Fair Value Inputs, Loss Severity | 40.70% | 37.40% | ||
Recurring Fair Value Measurements [Member] | Corporate and Other Debt Securities [Member] | Minimum [Member] | Comparable Evaluated Quote [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Evaluated Quote on Comparable Bonds | 100.00% | 99.90% | ||
Recurring Fair Value Measurements [Member] | Corporate and Other Debt Securities [Member] | Maximum [Member] | Comparable Evaluated Quote [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Evaluated Quote on Comparable Bonds | 100.00% | 99.90% | ||
Recurring Fair Value Measurements [Member] | Corporate and Other Debt Securities [Member] | Weighted Average [Member] | Comparable Evaluated Quote [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Evaluated Quote on Comparable Bonds | 100.00% | 99.90% | ||
Recurring Fair Value Measurements [Member] | Residential Mortgage Servicing Rights [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 9.40% | [1] | 9.90% | [2] |
Option-Adjusted Spread | 8.70% | [1] | 7.70% | [2] |
Recurring Fair Value Measurements [Member] | Residential Mortgage Servicing Rights [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 10.70% | [1] | 22.40% | [2] |
Option-Adjusted Spread | 17.30% | [1] | 11.30% | [2] |
Recurring Fair Value Measurements [Member] | Residential Mortgage Servicing Rights [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 10.00% | [1] | 12.00% | [2] |
Option-Adjusted Spread | 10.00% | [1] | 9.00% | [2] |
Recurring Fair Value Measurements [Member] | Interest rate options on residential mortgage loans [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 9.40% | 9.90% | ||
Option-Adjusted Spread | 8.70% | 7.70% | ||
Pull-Through | 10.10% | 7.30% | ||
Recurring Fair Value Measurements [Member] | Interest rate options on residential mortgage loans [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 10.70% | 22.40% | ||
Option-Adjusted Spread | 17.30% | 11.30% | ||
Pull-Through | 99.10% | 99.10% | ||
Recurring Fair Value Measurements [Member] | Interest rate options on residential mortgage loans [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Prepayment Rate | 10.00% | 12.00% | ||
Option-Adjusted Spread | 10.00% | 9.00% | ||
Pull-Through | 88.40% | 87.80% | ||
Recurring Fair Value Measurements [Member] | Interest Rate Options on commercial morgage loans [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Internal Rate of Return | 12.00% | |||
Recurring Fair Value Measurements [Member] | Interest Rate Options on commercial morgage loans [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Internal Rate of Return | 12.00% | |||
Recurring Fair Value Measurements [Member] | Interest Rate Options on commercial morgage loans [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Internal Rate of Return | 12.00% | |||
Nonrecurring Fair Value Measurements [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Loans held for sale, at fair value | $ 8 | $ 33 | ||
Nonrecurring Fair Value Measurements [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Loans held for sale, at fair value | $ 8 | $ 33 | ||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Minimum [Member] | Property Appraisal [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 25.00% | 3.70% | ||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Minimum [Member] | Estimated Third-Party valuations [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Measurement Range Percentage | 15.40% | |||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Maximum [Member] | Property Appraisal [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 53.30% | 73.00% | ||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Maximum [Member] | Estimated Third-Party valuations [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Measurement Range Percentage | 89.10% | |||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Weighted Average [Member] | Property Appraisal [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 28.30% | 29.60% | ||
Nonrecurring Fair Value Measurements [Member] | Foreclosed Property And Other Real Estate [Member] | Weighted Average [Member] | Estimated Third-Party valuations [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Measurement Range Percentage | 59.50% | |||
Commercial Loan [Member] | Loans Held For Sale [Member] | Activity For Sales Of Similar Loans [Member] | Level 3 [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | $ 8 | $ 33 | ||
Commercial Loan [Member] | Nonrecurring Fair Value Measurements [Member] | Loans Held For Sale [Member] | Minimum [Member] | Activity For Sales Of Similar Loans [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 13.50% | 8.30% | ||
Commercial Loan [Member] | Nonrecurring Fair Value Measurements [Member] | Loans Held For Sale [Member] | Maximum [Member] | Activity For Sales Of Similar Loans [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 82.60% | 90.90% | ||
Commercial Loan [Member] | Nonrecurring Fair Value Measurements [Member] | Loans Held For Sale [Member] | Weighted Average [Member] | Activity For Sales Of Similar Loans [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Fair Value Inputs, Comparability Adjustments | 58.20% | 53.30% | ||
[1] | See Note 5 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. | |||
[2] | See Note 7 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2014 for additional disclosures related to assumptions used in the fair value calculation for residential mortgage servicing rights. |
Fair Value Measurements (Summ81
Fair Value Measurements (Summary Of Difference Between Aggregate Fair Value And Aggregate Unpaid Principal Balance For Mortgage Loans Held For Sale Measured At Fair Value) (Details) - Mortgage loans held for sale [Member] - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 466 | $ 440 |
Fair Value Option Mortgages Held For Sale Aggregate Unpaid Principal | 455 | 421 |
Aggregate Fair Value Less Aggregate Unpaid Principal | $ 11 | $ 19 |
Fair Value Measurements (Summ82
Fair Value Measurements (Summary of Net Gains (Losses) From Changes In Fair Value (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Mortgage loans held for sale [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Net gains (losses) resulting from changes in fair value | $ (4) | $ 11 | $ (8) | $ 17 |
Fair Value Measurements (Sche83
Fair Value Measurements (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | ||
Financial Assets [Abstract] | ||||
Trading account securities | $ 110 | $ 106 | ||
Held-to-maturity Securities | 2,093 | 2,209 | ||
Securities available for sale | 22,672 | 22,580 | ||
Loans held for sale, at fair value | 466 | 440 | ||
Other interest-earning assets | 70 | 89 | ||
Derivative Assets | 397 | 400 | ||
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 153 | 200 | ||
Fair Value Discount On Loan Portfolio Amount | $ 3,000 | $ 4,400 | ||
Fair value discount on loan portfolio, rate | 4.00% | 5.90% | ||
Leases, carrying amount excluded | $ 1,800 | $ 1,700 | ||
Carrying Amount [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and cash equivalents | 3,755 | 4,004 | ||
Trading account securities | 110 | 106 | ||
Held-to-maturity Securities | 2,067 | 2,175 | ||
Securities available for sale | 22,672 | 22,580 | ||
Loans held for sale, at fair value | 511 | 541 | ||
Net loans (excluding leases) | 77,186 | [1],[2] | 74,482 | [3],[4] |
Other interest-earning assets | 70 | 89 | ||
Derivative Assets | 758 | 1,215 | ||
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 742 | 1,254 | ||
Deposits | 97,075 | 94,200 | ||
Short-term Borrowings | 1,846 | 2,253 | ||
Long-term Borrowings | 3,602 | 3,462 | ||
Loan commitments and letters of credit | 104 | 106 | ||
Indemnification obligation | 203 | 206 | ||
Estimate of Fair Value [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and cash equivalents | 3,755 | [5] | 4,004 | [6] |
Trading account securities | 110 | [5] | 106 | [6] |
Held-to-maturity Securities | 2,093 | [5] | 2,209 | [6] |
Securities available for sale | 22,672 | [5] | 22,580 | [6] |
Loans held for sale, at fair value | 511 | [5] | 541 | [6] |
Net loans (excluding leases) | 74,140 | [1],[2],[5] | 70,114 | [3],[4],[6] |
Other interest-earning assets | 70 | [5] | 89 | [6] |
Derivative Assets | 758 | [5] | 1,215 | [6] |
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 742 | [5] | 1,254 | [6] |
Deposits | 97,051 | [5] | 94,186 | [6] |
Short-term Borrowings | 1,846 | [5] | 2,253 | [6] |
Long-term Borrowings | 4,179 | [5] | 3,871 | [6] |
Loan commitments and letters of credit | 468 | [5] | 539 | [6] |
Indemnification obligation | 185 | [5] | 198 | [6] |
Level 1 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and cash equivalents | 3,755 | 4,004 | ||
Trading account securities | 110 | 106 | ||
Held-to-maturity Securities | 1 | 1 | ||
Securities available for sale | 405 | 322 | ||
Loans held for sale, at fair value | 0 | 0 | ||
Net loans (excluding leases) | 0 | [1],[2] | 0 | [3],[4] |
Other interest-earning assets | 0 | 0 | ||
Derivative Assets | 0 | 0 | ||
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 0 | 0 | ||
Deposits | 0 | 0 | ||
Short-term Borrowings | 0 | 0 | ||
Long-term Borrowings | 0 | 0 | ||
Loan commitments and letters of credit | 0 | 0 | ||
Indemnification obligation | 0 | 0 | ||
Level 2 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and cash equivalents | 0 | 0 | ||
Trading account securities | 0 | 0 | ||
Held-to-maturity Securities | 2,092 | 2,208 | ||
Securities available for sale | 22,258 | 22,247 | ||
Loans held for sale, at fair value | 466 | 440 | ||
Net loans (excluding leases) | 0 | [1],[2] | 0 | [3],[4] |
Other interest-earning assets | 70 | 89 | ||
Derivative Assets | 743 | 1,207 | ||
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 742 | 1,254 | ||
Deposits | 97,051 | 94,186 | ||
Short-term Borrowings | 1,846 | 2,253 | ||
Long-term Borrowings | 3,241 | 3,504 | ||
Loan commitments and letters of credit | 0 | 0 | ||
Indemnification obligation | 0 | 0 | ||
Level 3 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and cash equivalents | 0 | 0 | ||
Trading account securities | 0 | 0 | ||
Held-to-maturity Securities | 0 | 0 | ||
Securities available for sale | 9 | 11 | ||
Loans held for sale, at fair value | 45 | 101 | ||
Net loans (excluding leases) | 74,140 | [1],[2] | 70,114 | [3],[4] |
Other interest-earning assets | 0 | 0 | ||
Derivative Assets | 15 | 8 | ||
Financial Liabilities [Abstract] | ||||
Derivative Liabilities | 0 | 0 | ||
Deposits | 0 | 0 | ||
Short-term Borrowings | 0 | 0 | ||
Long-term Borrowings | 938 | 367 | ||
Loan commitments and letters of credit | 468 | 539 | ||
Indemnification obligation | $ 185 | $ 198 | ||
[1] | Excluded from this table is the lease carrying amount of $1.8 billion at June 30, 2015. | |||
[2] | The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at June 30, 2015 was $3.0 billion or 4.0 percent. | |||
[3] | Excluded from this table is the lease carrying amount of $1.7 billion at December 31, 2014. | |||
[4] | The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. In the current whole loan market, financial investors are generally requiring a higher rate of return than the return inherent in loans if held to maturity. The fair value discount at December 31, 2014 was $4.4 billion or 5.9 percent. | |||
[5] | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. | |||
[6] | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | Jun. 30, 2015 | Jun. 30, 2014 |
Fair Value Disclosures [Abstract] | ||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 0 | $ 0 |
Business Segment Information (S
Business Segment Information (Schedule Of Financial Information By Reportable Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Non-interest income | $ 590 | $ 475 | $ 1,060 | $ 932 |
Non-interest expense | 934 | 820 | 1,839 | 1,637 |
Income from continuing operations before income taxes | 413 | 443 | 744 | 897 |
Income tax expense (benefit) | 124 | 148 | 219 | 299 |
Corporate Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 282 | 288 | 562 | 570 |
Provision (Credit) for Loan Losses | (5) | 0 | (6) | 1 |
Non-interest income | 98 | 73 | 188 | 149 |
Non-interest expense | 154 | 132 | 307 | 267 |
Income from continuing operations before income taxes | 231 | 229 | 449 | 451 |
Income tax expense (benefit) | 88 | 87 | 171 | 172 |
Net income | 143 | 142 | 278 | 279 |
Average assets | 45,884 | 43,745 | 45,520 | 43,134 |
Consumer Bank [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 609 | 616 | 1,209 | 1,227 |
Provision (Credit) for Loan Losses | 49 | 67 | 101 | 147 |
Non-interest income | 286 | 285 | 551 | 561 |
Non-interest expense | 615 | 583 | 1,204 | 1,146 |
Income from continuing operations before income taxes | 231 | 251 | 455 | 495 |
Income tax expense (benefit) | 88 | 96 | 173 | 188 |
Net income | 143 | 155 | 282 | 307 |
Average assets | 38,173 | 38,266 | 38,083 | 38,496 |
Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 41 | 44 | 83 | 89 |
Provision (Credit) for Loan Losses | 2 | 0 | 5 | 1 |
Non-interest income | 98 | 91 | 198 | 183 |
Non-interest expense | 104 | 100 | 209 | 200 |
Income from continuing operations before income taxes | 33 | 35 | 67 | 71 |
Income tax expense (benefit) | 12 | 14 | 25 | 27 |
Net income | 21 | 21 | 42 | 44 |
Average assets | 2,889 | 2,971 | 2,901 | 2,965 |
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | (112) | (125) | (219) | (247) |
Provision (Credit) for Loan Losses | 17 | (32) | 12 | (112) |
Non-interest income | 108 | 26 | 123 | 39 |
Non-interest expense | 61 | 5 | 119 | 24 |
Income from continuing operations before income taxes | (82) | (72) | (227) | (120) |
Income tax expense (benefit) | (64) | (49) | (150) | (88) |
Net income | (18) | (23) | (77) | (32) |
Average assets | 33,929 | 32,899 | 34,218 | 33,205 |
Continuing Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 820 | 823 | 1,635 | 1,639 |
Provision (Credit) for Loan Losses | 63 | 35 | 112 | 37 |
Non-interest income | 590 | 475 | 1,060 | 932 |
Non-interest expense | 934 | 820 | 1,839 | 1,637 |
Income from continuing operations before income taxes | 413 | 443 | 744 | 897 |
Income tax expense (benefit) | 124 | 148 | 219 | 299 |
Net income | 289 | 295 | 525 | 598 |
Average assets | 120,875 | 117,881 | 120,722 | 117,800 |
Discontinued Operations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 0 | 0 | 0 | 0 |
Provision (Credit) for Loan Losses | 0 | 0 | 0 | 0 |
Non-interest income | 0 | 0 | 0 | 0 |
Non-interest expense | 6 | (2) | 10 | (21) |
Income from continuing operations before income taxes | (6) | 2 | (10) | 21 |
Income tax expense (benefit) | (2) | 1 | (4) | 8 |
Net income | (4) | 1 | (6) | 13 |
Average assets | 0 | 0 | 0 | 0 |
Consolidated [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (loss) | 820 | 823 | 1,635 | 1,639 |
Provision (Credit) for Loan Losses | 63 | 35 | 112 | 37 |
Non-interest income | 590 | 475 | 1,060 | 932 |
Non-interest expense | 940 | 818 | 1,849 | 1,616 |
Income from continuing operations before income taxes | 407 | 445 | 734 | 918 |
Income tax expense (benefit) | 122 | 149 | 215 | 307 |
Net income | 285 | 296 | 519 | 611 |
Average assets | $ 120,875 | $ 117,881 | $ 120,722 | $ 117,800 |
Business Segment Information Na
Business Segment Information Narrative (Details) | 6 Months Ended |
Jun. 30, 2015segment | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 3 |
Commitments, Contingencies an87
Commitments, Contingencies and Guarantees (Credit Risk Of Financial Instruments By Contractual Amounts) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Other Commitments [Line Items] | ||||||
Unused commitments to extend credit | $ 45,142 | $ 43,724 | ||||
Standby Letters Of Credit Commitment | 1,545 | 1,697 | ||||
Commercial letters of credit | 63 | 71 | ||||
Liabilities associated with standby letters of credit | 39 | 40 | ||||
Assets associated with standby letters of credit | 39 | 40 | ||||
Reserve for unfunded credit commitments | $ 64 | $ 66 | $ 65 | $ 89 | $ 78 | $ 78 |
Commitments, Contingencies an88
Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Jun. 30, 2015 | Dec. 31, 2014 | Apr. 02, 2012 | |||
Long-term Purchase Commitment [Line Items] | |||||
Estimated aggregate amount of losses reasonably possible to be incurred in excess of amounts accrued | $ 40 | ||||
Alleged securities law violations by Morgan Keegan | 39 | ||||
Litigation Settlement, Amount | 90 | ||||
Unusual or Infrequent Item, Insurance Proceeds | 90 | ||||
Fair value of the indemnification obligation | $ 385 | ||||
Fair value of the indemnification obligation, incremental increase over FAS 5 reserve | $ 256 | ||||
Carrying Amount [Member] | |||||
Long-term Purchase Commitment [Line Items] | |||||
Indemnification obligation | 203 | $ 206 | |||
Carrying Amount [Member] | Indemnification Agreement [Member] | |||||
Long-term Purchase Commitment [Line Items] | |||||
Indemnification obligation | 203 | ||||
Estimate of Fair Value [Member] | |||||
Long-term Purchase Commitment [Line Items] | |||||
Indemnification obligation | 185 | [1] | $ 198 | [2] | |
Estimate of Fair Value [Member] | Indemnification Agreement [Member] | |||||
Long-term Purchase Commitment [Line Items] | |||||
Indemnification obligation | $ 185 | ||||
[1] | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. | ||||
[2] | Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for interest rates, market liquidity and credit spreads as appropriate. |
Recent Accounting Pronounceme89
Recent Accounting Pronouncements (Narrative) (Details) $ in Millions | Dec. 31, 2014USD ($) |
Retained Earnings [Member] | Cumulative effect of adopting ASU 2014-01 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative effect adjustment to retained earnings | $ 116 |