Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 29, 2013 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | BANK OF AMERICA CORP /DE/ | |
Entity Central Index Key | 70858 | |
Document Type | 10-Q | |
Document Period End Date | 30-Sep-13 | |
Amendment Flag | FALSE | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | -19 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 10,666,133,943 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income | ||||
Loans and leases | $9,146 | $9,597 | $27,384 | $29,514 |
Debt securities | 2,205 | 2,062 | 7,302 | 6,713 |
Federal funds sold and securities borrowed or purchased under agreements to resell | 291 | 353 | 925 | 1,173 |
Trading account assets | 1,049 | 1,189 | 3,567 | 3,787 |
Other interest income | 691 | 775 | 2,130 | 2,242 |
Total interest income | 13,382 | 13,976 | 41,308 | 43,429 |
Interest expense | ||||
Deposits | 334 | 484 | 1,082 | 1,552 |
Short-term borrowings | 683 | 893 | 2,241 | 2,717 |
Trading account liabilities | 375 | 418 | 1,274 | 1,343 |
Long-term debt | 1,724 | 2,243 | 5,232 | 7,485 |
Total interest expense | 3,116 | 4,038 | 9,829 | 13,097 |
Net interest income | 10,266 | 9,938 | 31,479 | 30,332 |
Noninterest income | ||||
Card income | 1,444 | 1,538 | 4,323 | 4,573 |
Service charges | 1,884 | 1,934 | 5,520 | 5,780 |
Investment and brokerage services | 2,995 | 2,781 | 9,165 | 8,504 |
Investment banking income | 1,297 | 1,336 | 4,388 | 3,699 |
Equity investment income | 1,184 | 238 | 2,427 | 1,371 |
Trading account profits | 1,266 | 1,239 | 6,193 | 5,078 |
Mortgage banking income | 585 | 2,019 | 3,026 | 5,290 |
Gains on sales of debt securities | 356 | 339 | 881 | 1,491 |
Other income (loss) | 260 | -928 | 72 | -1,392 |
Other-than-temporary impairment losses on available-for-sale debt securities: | ||||
Total other-than-temporary impairment losses | -8 | -9 | -21 | -70 |
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1 | 3 | 1 | 18 |
Net impairment losses recognized in earnings on available-for-sale debt securities | -7 | -6 | -20 | -52 |
Total noninterest income | 11,264 | 10,490 | 35,975 | 34,342 |
Total revenue, net of interest expense | 21,530 | 20,428 | 67,454 | 64,674 |
Provision for credit losses | 296 | 1,774 | 3,220 | 5,965 |
Noninterest expense | ||||
Personnel | 8,310 | 8,431 | 26,732 | 27,348 |
Occupancy | 1,096 | 1,160 | 3,359 | 3,419 |
Equipment | 538 | 561 | 1,620 | 1,718 |
Marketing | 511 | 479 | 1,377 | 1,393 |
Professional fees | 702 | 873 | 2,045 | 2,578 |
Amortization of intangibles | 270 | 315 | 820 | 955 |
Data processing | 779 | 640 | 2,370 | 2,188 |
Telecommunications | 397 | 410 | 1,217 | 1,227 |
Other general operating | 3,786 | 4,675 | 12,367 | 12,907 |
Total noninterest expense | 16,389 | 17,544 | 51,907 | 53,733 |
Income (loss) before income taxes | 4,845 | 1,110 | 12,327 | 4,976 |
Income tax expense (benefit) | 2,348 | 770 | 4,335 | 1,520 |
Net income (loss) | 2,497 | 340 | 7,992 | 3,456 |
Preferred stock dividends | 279 | 373 | 1,093 | 1,063 |
Net income (loss) applicable to common shareholders | $2,218 | ($33) | $6,899 | $2,393 |
Per common share information | ||||
Earnings (dollars per share) | $0.21 | $0 | $0.64 | $0.22 |
Diluted earnings (dollars per share) | $0.20 | $0 | $0.62 | $0.22 |
Dividends paid (dollars per share) | $0.01 | $0.01 | $0.03 | $0.03 |
Average common shares issued and outstanding (in thousands) | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 |
Average diluted common shares issued and outstanding (in thousands) | 11,482,226 | 10,776,173 | 11,523,649 | 10,826,503 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (loss) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Net income | $2,497 | $340 | $7,992 | $3,456 | ||
Other comprehensive income, net-of-tax: | ||||||
Net change in available-for-sale debt and marketable equity securities | -631 | 2,365 | -5,770 | 2,971 | ||
Net change in derivatives | 180 | 234 | 365 | 535 | ||
Net change, after-tax, Employee Benefit Plans | 1,380 | 75 | 1,513 | [1] | 1,106 | [1] |
Net change in foreign currency translation adjustments | -43 | 15 | -134 | 14 | ||
Other comprehensive income | 886 | 2,689 | -4,026 | 4,626 | ||
Comprehensive income (loss) | $3,383 | $3,029 | $3,966 | $8,082 | ||
[1] | During the three months ended September 30, 2013, the Corporation merged certain pension plans into one plan. For additional information, see Note 15 – Pension, Postretirement and Certain Compensation Plans. |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Assets | |||
Cash and cash equivalents | $121,233 | $110,752 | |
Time deposits placed and other short-term investments | 14,449 | 18,694 | |
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $102,899 and $98,670 measured at fair value) | 212,007 | 219,924 | |
Trading account assets (includes $107,052 and $115,821 pledged as collateral) | 201,206 | 227,775 | |
Derivative assets | 53,161 | 53,497 | |
Debt securities: | |||
Carried at fair value (includes $53,826 and $63,349 pledged as collateral) | 266,349 | 310,850 | |
Held-to-maturity, at cost (fair value – $52,851 and $50,270; $20,385 and $22,461 pledged as collateral) | 54,649 | [1] | 49,481 |
Total debt securities | 320,998 | 360,331 | |
Loans and leases (includes $10,196 and $9,002 measured at fair value and $71,722 and $50,289 pledged as collateral) | 934,392 | 907,819 | |
Allowance for loan and lease losses | -19,432 | -24,179 | |
Loans and leases, net of allowance | 914,960 | 883,640 | |
Premises and equipment, net | 10,703 | 11,858 | |
Mortgage servicing rights (includes $5,058 and $5,716 measured at fair value) | 5,068 | 5,851 | |
Goodwill | 69,891 | 69,976 | |
Intangible assets | 5,843 | 6,684 | |
Loans held-for-sale (includes $8,217 and $11,659 measured at fair value) | 15,001 | 19,413 | |
Customer and other receivables | 60,065 | 71,467 | |
Other assets (includes $18,204 and $26,490 measured at fair value) | 122,068 | 150,112 | |
Total assets | 2,126,653 | 2,209,974 | |
Deposits in U.S. offices: | |||
Noninterest-bearing | 374,284 | 372,546 | |
Interest-bearing (includes $1,916 and $2,262 measured at fair value) | 657,477 | 654,332 | |
Deposits in non-U.S. offices: | |||
Noninterest-bearing | 7,394 | 7,573 | |
Interest-bearing | 70,963 | 70,810 | |
Total deposits | 1,110,118 | 1,105,261 | |
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $61,917 and $42,639 measured at fair value) | 226,274 | 293,259 | |
Trading account liabilities | 82,713 | 73,587 | |
Derivative liabilities | 44,568 | 46,016 | |
Short-term borrowings (includes $2,844 and $4,074 measured at fair value) | 40,769 | 30,731 | |
Accrued expenses and other liabilities (includes $9,622 and $16,594 measured at fair value and $480 and $513 of reserve for unfunded lending commitments) | 134,598 | 148,579 | |
Long-term debt (includes $47,401 and $49,161 measured at fair value) | 255,331 | 275,585 | |
Total liabilities | 1,894,371 | 1,973,018 | |
Commitments and contingencies (Note 7 – Securitizations and Other Variable Interest Entities, Note 8 – Representations and Warranties Obligations and Corporate Guarantees and Note 11 – Commitments and Contingencies) | |||
Shareholders' equity | |||
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,407,790 and 3,685,410 shares | 13,315 | 18,768 | |
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,683,282,112 and 10,778,263,628 shares | 156,371 | 158,142 | |
Retained earnings | 69,419 | 62,843 | |
Accumulated other comprehensive income (loss) | -6,823 | -2,797 | |
Total shareholders' equity | 232,282 | 236,956 | |
Total liabilities and shareholders' equity | 2,126,653 | 2,209,974 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Assets | |||
Trading account assets (includes $107,052 and $115,821 pledged as collateral) | 8,743 | 7,906 | |
Derivative assets | 199 | 333 | |
Debt securities: | |||
Loans and leases (includes $10,196 and $9,002 measured at fair value and $71,722 and $50,289 pledged as collateral) | 109,996 | 123,227 | |
Allowance for loan and lease losses | -2,962 | -3,658 | |
Loans and leases, net of allowance | 107,034 | 119,569 | |
Loans held-for-sale (includes $8,217 and $11,659 measured at fair value) | 1,875 | 1,969 | |
Other assets (includes $18,204 and $26,490 measured at fair value) | 4,314 | 4,654 | |
Total assets | 122,165 | 134,431 | |
Deposits in non-U.S. offices: | |||
Short-term borrowings (includes $2,844 and $4,074 measured at fair value) | 2,180 | 3,731 | |
Long-term debt (includes $47,401 and $49,161 measured at fair value) | 24,481 | 34,256 | |
All other liabilities (includes $201 and $149 of non-recourse liabilities) | 382 | 360 | |
Total liabilities | $27,043 | $38,347 | |
[1] | Substantially all U.S. agency MBS. |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Millions, except Share data, unless otherwise specified | |||
Assets | |||
Federal funds sold and securities borrowed or purchased under agreements to resell, measured at fair value | $102,899 | $98,670 | |
Trading account assets, pledged as collateral | 107,052 | 115,821 | |
Debt securities: | |||
Available-for-sale, pledged as collateral | 53,826 | 63,349 | |
Held-to-maturity, at cost, fair value | 52,851 | [1] | 50,270 |
Held-to-maturity Securities Pledged as Collateral | 20,385 | 22,461 | |
Loans and leases, measured at fair value | 10,196 | 9,002 | |
Loans and leases, pledged as collateral | 71,722 | 50,289 | |
Mortgage servicing rights | 5,058 | 5,716 | |
Loans held-for-sale, measured at fair value | 8,217 | 11,659 | |
Other Assets | 18,204 | 26,490 | |
Deposits in U.S. offices: | |||
Interest-bearing, measured at fair value | 1,916 | 2,262 | |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 61,917 | 42,639 | |
Commercial paper and other short-term borrowings, measured at fair value | 2,844 | 4,074 | |
Accrued expenses and other liabilities, measured at fair value | 9,622 | 16,594 | |
Accrued expenses and other liabilities, reserve for unfunded lending commitments | 480 | 513 | |
Long-term debt, measured at fair value | 47,401 | 49,161 | |
Shareholders' equity | |||
Preferred stock, par value | $0.01 | $0.01 | |
Preferred stock, authorized shares | 100,000,000 | 100,000,000 | |
Preferred stock, issued shares | 3,407,790 | 3,685,410 | |
Preferred stock, outstanding shares | 3,407,790 | 3,685,410 | |
Common stock, par value | $0.01 | $0.01 | |
Common stock, authorized shares | 12,800,000,000 | 12,800,000,000 | |
Common stock, issued shares | 10,683,282,112 | 10,778,263,628 | |
Common stock, outstanding shares | 10,683,282,112 | 10,778,263,628 | |
Consolidated VIEs [Member] | Short-term borrowings [Member] | |||
Shareholders' equity | |||
Non-recourse debt | 844 | 872 | |
Consolidated VIEs [Member] | Long-term debt [Member] | |||
Shareholders' equity | |||
Non-recourse debt | 21,046 | 29,476 | |
Consolidated VIEs [Member] | Other Liabilities | |||
Shareholders' equity | |||
Non-recourse debt | $201 | $149 | |
[1] | Substantially all U.S. agency MBS. |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock | Common Stock and Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | |
In Millions, except Share data in Thousands, unless otherwise specified | ||||||
Beginning Balance at Dec. 31, 2011 | $230,101 | $18,397 | $156,621 | $60,520 | ($5,437) | |
Beginning Balance, Shares at Dec. 31, 2011 | 10,535,938 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 3,456 | 3,456 | ||||
Net change in available-for-sale debt and marketable equity securities | 2,971 | 2,971 | ||||
Net change in derivatives | 535 | 535 | ||||
Employee benefit plan adjustments | 1,106 | [1] | 1,106 | |||
Net change in foreign currency translation adjustments | 14 | 14 | ||||
Dividends paid: | ||||||
Common | -330 | -330 | ||||
Preferred | -1,107 | -1,107 | ||||
Issuance of preferred stock | 667 | 667 | ||||
Common stock issued in exchange for preferred stock and trust preferred securities | 160 | -296 | 412 | 44 | ||
Common stock issued in exchange for preferred stock and trust preferred securities, Shares | 49,867 | |||||
Common stock issued under employee plans and related tax effects | 1,033 | 1,033 | ||||
Common stock issued under employee plans and related tax effects, Shares | 191,462 | |||||
Ending Balance at Sep. 30, 2012 | 238,606 | 18,768 | 158,066 | 62,583 | -811 | |
Ending Balance, Shares at Sep. 30, 2012 | 10,777,267 | |||||
Beginning Balance at Dec. 31, 2012 | 236,956 | 18,768 | 158,142 | 62,843 | -2,797 | |
Beginning Balance, Shares at Dec. 31, 2012 | 10,778,264 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 7,992 | 7,992 | ||||
Net change in available-for-sale debt and marketable equity securities | -5,770 | -5,770 | ||||
Net change in derivatives | 365 | 365 | ||||
Employee benefit plan adjustments | 1,513 | [1] | 1,513 | |||
Net change in foreign currency translation adjustments | -134 | -134 | ||||
Dividends paid: | ||||||
Common | -323 | -323 | ||||
Preferred | -993 | -993 | ||||
Issuance of preferred stock | 1,008 | 1,008 | ||||
Redemption of preferred stock | -6,561 | -6,461 | -100 | |||
Common stock issued under employee plans and related tax effects | 98 | 98 | ||||
Common stock issued under employee plans and related tax effects, Shares | 44,664 | |||||
Common stock repurchased | -1,869 | -1,869 | ||||
Common stock repurchased, Shares | -139,646 | |||||
Ending Balance at Sep. 30, 2013 | $232,282 | $13,315 | $156,371 | $69,419 | ($6,823) | |
Ending Balance, Shares at Sep. 30, 2013 | 10,683,282 | |||||
[1] | During the three months ended September 30, 2013, the Corporation merged certain pension plans into one plan. For additional information, see Note 15 – Pension, Postretirement and Certain Compensation Plans. |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ||
Net income | $7,992 | $3,456 |
Reconciliation of net income (loss) to net cash provided by operating activities: | ||
Provision for credit losses | 3,220 | 5,965 |
Gains on sales of debt securities | -881 | -1,491 |
Fair value adjustments on structured liabilities | 232 | 4,665 |
Depreciation and premises improvements amortization | 1,201 | 1,347 |
Amortization of intangibles | 820 | 955 |
Net amortization of premium/discount on debt securities | 1,280 | 1,726 |
Deferred income taxes | 2,810 | 831 |
Originations and purchases of loans held-for-sale | -55,561 | -39,804 |
Proceeds from sales, securitizations and paydowns of loans held-for-sale | 62,549 | 36,963 |
Net (increase) decrease in trading and derivative instruments | 33,899 | -16,192 |
Net (increase) decrease in other assets | 35,319 | -7,121 |
Net increase (decrease) in accrued expenses and other liabilities | -14,059 | 19,383 |
Other operating activities, net | 2,002 | -596 |
Net cash provided by operating activities | 80,823 | 10,087 |
Investing activities | ||
Net decrease in time deposits placed and other short-term investments | 4,245 | 10,054 |
Net (increase) decrease in federal funds sold and securities borrowed or purchased under agreements to resell | 7,917 | -22,851 |
Proceeds from sales of debt securities carried at fair value | 78,405 | 60,412 |
Proceeds from paydowns and maturities of debt securities carried at fair value | 69,731 | 48,117 |
Purchases of debt securities carried at fair value | -113,244 | -131,097 |
Proceeds from paydowns and maturities of held-to-maturity debt securities | 7,039 | 4,080 |
Purchases of held-to-maturity debt securities | -12,363 | -9,106 |
Proceeds from sales of loans and leases | 9,267 | 3,158 |
Purchases of loans and leases | -16,844 | -5,985 |
Other changes in loans and leases, net | -30,921 | 19,630 |
Net purchases of premises and equipment | -353 | -146 |
Proceeds from sales of foreclosed properties | 852 | 2,305 |
Proceeds from sales of investments | 4,220 | 1,964 |
Other investing activities, net | -641 | -170 |
Net cash provided by (used in) investing activities | 7,310 | -19,635 |
Financing activities | ||
Net increase in deposits | 4,857 | 30,266 |
Net increase (decrease) in federal funds purchased and securities loaned or sold under agreements to repurchase | -66,985 | 59,036 |
Net increase (decrease) in short-term borrowings | 10,038 | -1,010 |
Proceeds from issuance of long-term debt | 32,680 | 18,010 |
Retirement of long-term debt | -47,936 | -110,262 |
Proceeds from issuance of preferred stock | 1,008 | 667 |
Redemption of preferred stock | -6,461 | 0 |
Common stock repurchased | -1,869 | 0 |
Cash dividends paid | -1,316 | -1,437 |
Excess tax benefits on share-based payments | 12 | 13 |
Other financing activities, net | -19 | 138 |
Net cash used in financing activities | -75,991 | -4,579 |
Effect of exchange rate changes on cash and cash equivalents | -1,661 | 440 |
Net increase (decrease) in cash and cash equivalents | 10,481 | -13,687 |
Cash and cash equivalents at January 1 | 110,752 | 120,102 |
Cash and cash equivalents at September 30 | $121,233 | $106,415 |
Summary_of_Significant_Account
Summary of Significant Accounting Principles | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ||
Summary of Significant Accounting Principles | ||
NOTE 1 – Summary of Significant Accounting Principles | ||
Bank of America Corporation (together with its consolidated subsidiaries, the Corporation), a bank holding company and a financial holding company, provides a diverse range of financial services and products throughout the U.S. and in certain international markets. The term "the Corporation" as used herein may refer to Bank of America Corporation individually, Bank of America Corporation and its subsidiaries, or certain of Bank of America Corporation's subsidiaries or affiliates. | ||
The Corporation conducts its activities through banking and nonbanking subsidiaries. The Corporation operates its banking activities primarily under two charters: Bank of America, National Association (Bank of America, N.A. or BANA) and FIA Card Services, National Association (FIA Card Services, N.A. or FIA). On October 1, 2013, the Corporation completed the merger of the Merrill Lynch & Co., Inc. subsidiary into Bank of America Corporation, which had no impact on the Corporation's consolidated results. | ||
Principles of Consolidation and Basis of Presentation | ||
The Consolidated Financial Statements include the accounts of the Corporation and its majority-owned subsidiaries, and those variable interest entities (VIEs) where the Corporation is the primary beneficiary. Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition and for VIEs, from the dates that the Corporation became the primary beneficiary. Assets held in an agency or fiduciary capacity are not included in the Consolidated Financial Statements. The Corporation accounts for investments in companies for which it owns a voting interest and for which it has the ability to exercise significant influence over operating and financing decisions using the equity method of accounting or at fair value under the fair value option. These investments are included in other assets. Equity method investments are subject to impairment testing and the Corporation's proportionate share of income or loss is included in equity investment income. | ||
The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. | ||
These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The nature of the Corporation's business is such that the results of any interim period are not necessarily indicative of results for a full year. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim period results have been made. The Corporation evaluates subsequent events through the date of filing with the Securities and Exchange Commission (SEC). Certain prior-period amounts have been reclassified to conform to current period presentation. | ||
Proposed Accounting Pronouncements | ||
In December 2012, the Financial Accounting Standards Board (FASB) issued a proposed standard on accounting for expected credit losses. It would replace multiple existing impairment models, including an "incurred loss" model for loans, with an "expected credit loss" model. The FASB announced it would establish the effective date when it issues the final standard. The Corporation cannot predict at this time whether or when a final standard will be issued, when it will be effective or what its final provisions will be. It is possible that the final standard could have a material adverse impact on the Corporation's results of operations if and when it is issued and becomes effective. | ||
Accounting Policies | ||
All significant accounting policies are discussed either in this Note, in Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K or are included in the Notes herein listed below. | ||
INDEX | Page | |
Note 3 – Derivatives | ||
Note 4 – Securities | ||
Note 5 – Outstanding Loans and Leases | ||
Note 7 – Securitizations and Other Variable Interest Entities | ||
Note 8 – Representations and Warranties Obligations and Corporate Guarantees | ||
Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | ||
Note 11 – Commitments and Contingencies | ||
Note 15 – Pension, Postretirement and Certain Compensation Plans | ||
Note 16 – Fair Value Measurements | ||
Note 19 – Mortgage Servicing Rights |
Trading_Account_Assets_and_Lia
Trading Account Assets and Liabilities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||
Trading Account Assets and Liabilities | ||||||||
NOTE 2 – Trading Account Assets and Liabilities | ||||||||
The table below presents the components of trading account assets and liabilities at September 30, 2013 and December 31, 2012. | ||||||||
(Dollars in millions) | September 30 | December 31 | ||||||
2013 | 2012 | |||||||
Trading account assets | ||||||||
U.S. government and agency securities (1) | $ | 59,250 | $ | 86,974 | ||||
Corporate securities, trading loans and other | 34,267 | 37,900 | ||||||
Equity securities | 48,300 | 43,315 | ||||||
Non-U.S. sovereign debt | 44,125 | 42,746 | ||||||
Mortgage trading loans and asset-backed securities | 15,264 | 16,840 | ||||||
Total trading account assets | $ | 201,206 | $ | 227,775 | ||||
Trading account liabilities | ||||||||
U.S. government and agency securities | $ | 24,395 | $ | 23,430 | ||||
Equity securities | 26,860 | 22,492 | ||||||
Non-U.S. sovereign debt | 23,621 | 20,244 | ||||||
Corporate securities and other | 7,837 | 7,421 | ||||||
Total trading account liabilities | $ | 82,713 | $ | 73,587 | ||||
(1) | Includes $13.4 billion and $30.6 billion of government-sponsored enterprise obligations at September 30, 2013 and December 31, 2012. |
Derivatives
Derivatives | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||||||
NOTE 3 – Derivatives | ||||||||||||||||||||||||||||||||
Derivative Balances | ||||||||||||||||||||||||||||||||
Derivatives are entered into on behalf of customers, for trading, or to support risk management activities. Derivatives used in risk management activities include derivatives that may or may not be designated in qualifying hedge accounting relationships. Derivatives that are not designated in qualifying hedge accounting relationships are referred to as other risk management derivatives. For more information on the Corporation's derivatives and hedging activities, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at September 30, 2013 and December 31, 2012. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral received or paid. | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Gross Derivative Assets | Gross Derivative Liabilities | |||||||||||||||||||||||||||||||
(Dollars in billions) | Contract/ | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | |||||||||||||||||||||||||
Notional (1) | Accounting | Accounting | ||||||||||||||||||||||||||||||
Hedges | Hedges | |||||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Swaps | $ | 33,859.60 | $ | 725.2 | $ | 8.7 | $ | 733.9 | $ | 720.9 | $ | 0.7 | $ | 721.6 | ||||||||||||||||||
Futures and forwards | 9,086.90 | 3.4 | — | 3.4 | 4 | — | 4 | |||||||||||||||||||||||||
Written options | 2,162.60 | — | — | — | 70.8 | — | 70.8 | |||||||||||||||||||||||||
Purchased options | 2,111.10 | 72.1 | — | 72.1 | — | — | — | |||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Swaps | 2,312.40 | 45.3 | 0.9 | 46.2 | 46.4 | 1.5 | 47.9 | |||||||||||||||||||||||||
Spot, futures and forwards | 2,901.30 | 24.8 | 0.5 | 25.3 | 26.6 | 1.4 | 28 | |||||||||||||||||||||||||
Written options | 485.5 | — | — | — | 7.9 | — | 7.9 | |||||||||||||||||||||||||
Purchased options | 448.7 | 7.6 | — | 7.6 | — | — | — | |||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Swaps | 152.3 | 3.4 | — | 3.4 | 3 | — | 3 | |||||||||||||||||||||||||
Futures and forwards | 76.3 | 1.3 | — | 1.3 | 1.4 | — | 1.4 | |||||||||||||||||||||||||
Written options | 363.6 | — | — | — | 28.1 | — | 28.1 | |||||||||||||||||||||||||
Purchased options | 320.6 | 27.2 | — | 27.2 | — | — | — | |||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Swaps | 73.1 | 3.8 | — | 3.8 | 4.5 | — | 4.5 | |||||||||||||||||||||||||
Futures and forwards | 592.3 | 4.6 | — | 4.6 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 209.7 | — | — | — | 6.8 | — | 6.8 | |||||||||||||||||||||||||
Purchased options | 223.4 | 7.1 | — | 7.1 | — | — | — | |||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Purchased credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,441.70 | 23.4 | — | 23.4 | 23.6 | — | 23.6 | |||||||||||||||||||||||||
Total return swaps/other | 47.4 | 2.2 | — | 2.2 | 3.2 | — | 3.2 | |||||||||||||||||||||||||
Written credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,417.90 | 24.7 | — | 24.7 | 20.9 | — | 20.9 | |||||||||||||||||||||||||
Total return swaps/other | 77.5 | 3.6 | — | 3.6 | 0.2 | — | 0.2 | |||||||||||||||||||||||||
Gross derivative assets/liabilities | $ | 979.7 | $ | 10.1 | $ | 989.8 | $ | 971 | $ | 3.6 | $ | 974.6 | ||||||||||||||||||||
Less: Legally enforceable master netting agreements | (889.3 | ) | (889.3 | ) | ||||||||||||||||||||||||||||
Less: Cash collateral received/paid | (47.3 | ) | (40.7 | ) | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | $ | 53.2 | $ | 44.6 | ||||||||||||||||||||||||||||
(1) | Represents the total contract/notional amount of derivative assets and liabilities outstanding. | |||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross Derivative Assets | Gross Derivative Liabilities | |||||||||||||||||||||||||||||||
(Dollars in billions) | Contract/ | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | |||||||||||||||||||||||||
Notional (1) | Accounting | Accounting | ||||||||||||||||||||||||||||||
Hedges | Hedges | |||||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Swaps | $ | 34,667.40 | $ | 1,075.40 | $ | 13.8 | $ | 1,089.20 | $ | 1,062.60 | $ | 4.7 | $ | 1,067.30 | ||||||||||||||||||
Futures and forwards | 11,950.50 | 2.8 | — | 2.8 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 2,343.50 | — | — | — | 106 | — | 106 | |||||||||||||||||||||||||
Purchased options | 2,162.60 | 105.5 | — | 105.5 | — | — | — | |||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Swaps | 2,489.00 | 47.4 | 1.4 | 48.8 | 53.2 | 1.8 | 55 | |||||||||||||||||||||||||
Spot, futures and forwards | 3,023.00 | 31.5 | 0.4 | 31.9 | 30.5 | 0.8 | 31.3 | |||||||||||||||||||||||||
Written options | 363.3 | — | — | — | 7.3 | — | 7.3 | |||||||||||||||||||||||||
Purchased options | 321.8 | 6.5 | — | 6.5 | — | — | — | |||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Swaps | 127.1 | 1.6 | — | 1.6 | 2 | — | 2 | |||||||||||||||||||||||||
Futures and forwards | 58.4 | 1 | — | 1 | 1 | — | 1 | |||||||||||||||||||||||||
Written options | 295.3 | — | — | — | 20.2 | — | 20.2 | |||||||||||||||||||||||||
Purchased options | 271 | 20.4 | — | 20.4 | — | — | — | |||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Swaps | 60.5 | 2.5 | 0.1 | 2.6 | 4 | — | 4 | |||||||||||||||||||||||||
Futures and forwards | 498.9 | 4.8 | — | 4.8 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 166.4 | — | — | — | 7.4 | — | 7.4 | |||||||||||||||||||||||||
Purchased options | 168.2 | 7.1 | — | 7.1 | — | — | — | |||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Purchased credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,559.50 | 35.6 | — | 35.6 | 22.1 | — | 22.1 | |||||||||||||||||||||||||
Total return swaps/other | 43.5 | 2.5 | — | 2.5 | 2.9 | — | 2.9 | |||||||||||||||||||||||||
Written credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,531.50 | 23 | — | 23 | 32.6 | — | 32.6 | |||||||||||||||||||||||||
Total return swaps/other | 68.8 | 0.2 | — | 0.2 | 0.3 | — | 0.3 | |||||||||||||||||||||||||
Gross derivative assets/liabilities | $ | 1,367.80 | $ | 15.7 | $ | 1,383.50 | $ | 1,357.50 | $ | 7.3 | $ | 1,364.80 | ||||||||||||||||||||
Less: Legally enforceable master netting agreements | (1,271.9 | ) | (1,271.9 | ) | ||||||||||||||||||||||||||||
Less: Cash collateral received/paid | (58.1 | ) | (46.9 | ) | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | $ | 53.5 | $ | 46 | ||||||||||||||||||||||||||||
(1) | Represents the total contract/notional amount of derivative assets and liabilities outstanding. | |||||||||||||||||||||||||||||||
Offsetting of Derivatives | ||||||||||||||||||||||||||||||||
The Corporation enters into International Swaps and Derivatives Association, Inc. (ISDA) master netting agreements or similar agreements with substantially all of the Corporation's derivative counterparties. Where legally enforceable, these master netting agreements give the Corporation, in the event of default by the counterparty, the right to liquidate securities held as collateral and to offset receivables and payables with the same counterparty. For purposes of the Consolidated Balance Sheet, the Corporation offsets derivative assets and liabilities and cash collateral held with the same counterparty where it has such a legally enforceable master netting agreement. | ||||||||||||||||||||||||||||||||
The table below presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at September 30, 2013 and December 31, 2012 by primary risk (e.g., interest rate risk) and the platform, where applicable, on which these derivatives are transacted. Exchange-traded derivatives include listed options transacted on an exchange. Over-the-counter (OTC) derivatives include bilateral transactions between the Corporation and a particular counterparty. OTC cleared derivatives include bilateral transactions between the Corporation and a counterparty where the transaction is cleared through a clearinghouse. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total gross derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral received or paid. | ||||||||||||||||||||||||||||||||
Other gross derivative assets and liabilities in the table represent derivatives entered into under master netting agreements where uncertainty exists as to the enforceability of these agreements under bankruptcy laws in some countries or industries, and accordingly, receivables and payables with counterparties in these countries or industries are reported on a gross basis. | ||||||||||||||||||||||||||||||||
Also included in the table is financial instrument collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and customer cash collateral held at third-party custodians. These amounts are not offset on the Consolidated Balance Sheet but are shown as a reduction to total derivative assets and liabilities in the table to derive net derivative assets and liabilities. | ||||||||||||||||||||||||||||||||
For more information on offsetting of securities financing agreements, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings. | ||||||||||||||||||||||||||||||||
Offsetting of Derivatives | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in billions) | Derivative | Derivative | Derivative | Derivative | ||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | $ | 439.8 | $ | 416.3 | $ | 646.7 | $ | 623.4 | ||||||||||||||||||||||||
Exchange traded | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
Over-the-counter cleared | 368 | 375.8 | 539.5 | 545.1 | ||||||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 76.1 | 79.6 | 84.1 | 88.7 | ||||||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 20 | 17.5 | 15.2 | 13.3 | ||||||||||||||||||||||||||||
Exchange-traded | 7.2 | 8.5 | 4.8 | 4.7 | ||||||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 7 | 7.7 | 6.9 | 7.9 | ||||||||||||||||||||||||||||
Exchange-traded | 3 | 2.7 | 3.4 | 3.2 | ||||||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Over-the-counter | 48.2 | 42.9 | 56 | 53.9 | ||||||||||||||||||||||||||||
Over-the-counter cleared | 4.4 | 4.5 | 3.8 | 3.4 | ||||||||||||||||||||||||||||
Total gross derivative assets/liabilities, before netting | ||||||||||||||||||||||||||||||||
Over-the-counter | 591.1 | 564 | 808.9 | 787.2 | ||||||||||||||||||||||||||||
Exchange-traded | 10.4 | 11.4 | 8.2 | 7.9 | ||||||||||||||||||||||||||||
Over-the-counter cleared | 372.4 | 380.3 | 543.3 | 548.5 | ||||||||||||||||||||||||||||
Less: Legally enforceable master netting and cash collateral received/paid | ||||||||||||||||||||||||||||||||
Over-the-counter | (556.6 | ) | (541.8 | ) | (780.8 | ) | (764.4 | ) | ||||||||||||||||||||||||
Exchange-traded | (7.9 | ) | (7.9 | ) | (5.9 | ) | (5.9 | ) | ||||||||||||||||||||||||
Over-the-counter cleared | (372.1 | ) | (380.3 | ) | (543.3 | ) | (548.5 | ) | ||||||||||||||||||||||||
Derivative assets/liabilities, after netting | 37.3 | 25.7 | 30.4 | 24.8 | ||||||||||||||||||||||||||||
Other gross derivative assets/liabilities | 15.9 | 18.9 | 23.1 | 21.2 | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | 53.2 | 44.6 | 53.5 | 46 | ||||||||||||||||||||||||||||
Less: Financial instruments collateral (1) | (11.4 | ) | (7.5 | ) | (11.5 | ) | (14.6 | ) | ||||||||||||||||||||||||
Total net derivative assets/liabilities | $ | 41.8 | $ | 37.1 | $ | 42 | $ | 31.4 | ||||||||||||||||||||||||
-1 | These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged. | |||||||||||||||||||||||||||||||
ALM and Risk Management Derivatives | ||||||||||||||||||||||||||||||||
The Corporation's asset and liability management (ALM) and risk management activities include the use of derivatives to mitigate risk to the Corporation including derivatives designated in qualifying hedge accounting relationships and derivatives used in other risk management activities. Interest rate, foreign exchange, equity, commodity and credit contracts are utilized in the Corporation's ALM and risk management activities. | ||||||||||||||||||||||||||||||||
The Corporation maintains an overall interest rate risk management strategy that incorporates the use of interest rate contracts, which are generally non-leveraged generic interest rate and basis swaps, options, futures and forwards, to minimize significant fluctuations in earnings that are caused by interest rate volatility. The Corporation's goal is to manage interest rate sensitivity and volatility so that movements in interest rates do not significantly adversely affect earnings or capital. As a result of interest rate fluctuations, hedged fixed-rate assets and liabilities appreciate or depreciate in fair value. Gains or losses on the derivative instruments that are linked to the hedged fixed-rate assets and liabilities are expected to substantially offset this unrealized appreciation or depreciation. | ||||||||||||||||||||||||||||||||
Market risk, including interest rate risk, can be substantial in the mortgage business. Market risk is the risk that values of mortgage assets or revenues will be adversely affected by changes in market conditions such as interest rate movements. To mitigate the interest rate risk in mortgage banking production income, the Corporation utilizes forward loan sale commitments and other derivative instruments including purchased options and certain debt securities. The Corporation also utilizes derivatives such as interest rate options, interest rate swaps, forward settlement contracts and Eurodollar futures to hedge certain market risks of mortgage servicing rights (MSRs). For more information on MSRs, see Note 19 – Mortgage Servicing Rights. | ||||||||||||||||||||||||||||||||
The Corporation uses foreign exchange contracts to manage the foreign exchange risk associated with certain foreign currency-denominated assets and liabilities, as well as the Corporation's investments in non-U.S. subsidiaries. Foreign exchange contracts, which include spot and forward contracts, represent agreements to exchange the currency of one country for the currency of another country at an agreed-upon price on an agreed-upon settlement date. Exposure to loss on these contracts will increase or decrease over their respective lives as currency exchange and interest rates fluctuate. | ||||||||||||||||||||||||||||||||
The Corporation enters into derivative commodity contracts such as futures, swaps, options and forwards as well as non-derivative commodity contracts to provide price risk management services to customers or to manage price risk associated with its physical and financial commodity positions. The non-derivative commodity contracts and physical inventories of commodities expose the Corporation to earnings volatility. Cash flow and fair value accounting hedges provide a method to mitigate a portion of this earnings volatility. | ||||||||||||||||||||||||||||||||
The Corporation purchases credit derivatives to manage credit risk related to certain funded and unfunded credit exposures. Credit derivatives include credit default swaps (CDS), total return swaps and swaptions. These derivatives are recorded on the Consolidated Balance Sheet at fair value with changes in fair value recorded in other income (loss). | ||||||||||||||||||||||||||||||||
Derivatives Designated as Accounting Hedges | ||||||||||||||||||||||||||||||||
The Corporation uses various types of interest rate, commodity and foreign exchange derivative contracts to protect against changes in the fair value of its assets and liabilities due to fluctuations in interest rates, commodity prices and exchange rates (fair value hedges). The Corporation also uses these types of contracts and equity derivatives to protect against changes in the cash flows of its assets and liabilities, and other forecasted transactions (cash flow hedges). The Corporation hedges its net investment in consolidated non-U.S. operations determined to have functional currencies other than the U.S. dollar using forward exchange contracts and cross-currency basis swaps, and by issuing foreign currency-denominated debt (net investment hedges). | ||||||||||||||||||||||||||||||||
Fair Value Hedges | ||||||||||||||||||||||||||||||||
The table below summarizes certain information related to fair value hedges for the three and nine months ended September 30, 2013 and 2012, including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated. At redesignation, the fair value of the derivatives was positive. As the derivatives mature, the fair value will approach zero. As a result, ineffectiveness will occur and the fair value changes in the derivatives and the long-term debt being hedged may be directionally the same in certain scenarios. Based on a regression analysis, the derivatives continue to be highly effective at offsetting changes in the fair value of the long-term debt attributable to interest rate risk. | ||||||||||||||||||||||||||||||||
Derivatives Designated as Fair Value Hedges | ||||||||||||||||||||||||||||||||
Gains (Losses) | Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Derivative | Hedged | Hedge | Derivative | Hedged | Hedge | ||||||||||||||||||||||||||
Item | Ineffectiveness | Item | Ineffectiveness | |||||||||||||||||||||||||||||
Interest rate risk on long-term debt (1) | $ | (313 | ) | $ | 81 | $ | (232 | ) | $ | (3,696 | ) | $ | 3,114 | $ | (582 | ) | ||||||||||||||||
Interest rate and foreign currency risk on long-term debt (1) | 991 | (1,059 | ) | (68 | ) | (1,129 | ) | 945 | (184 | ) | ||||||||||||||||||||||
Interest rate risk on available-for-sale securities (2) | — | — | — | 836 | (837 | ) | (1 | ) | ||||||||||||||||||||||||
Price risk on commodity inventory (3) | 1 | 1 | 2 | 1 | — | 1 | ||||||||||||||||||||||||||
Total | $ | 679 | $ | (977 | ) | $ | (298 | ) | $ | (3,988 | ) | $ | 3,222 | $ | (766 | ) | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Interest rate risk on long-term debt (1) | $ | 109 | $ | (385 | ) | $ | (276 | ) | $ | 518 | $ | (1,265 | ) | $ | (747 | ) | ||||||||||||||||
Interest rate and foreign currency risk on long-term debt (1) | (716 | ) | 647 | (69 | ) | (1,455 | ) | 1,259 | (196 | ) | ||||||||||||||||||||||
Interest rate risk on available-for-sale securities (2) | 349 | (309 | ) | 40 | (593 | ) | 659 | 66 | ||||||||||||||||||||||||
Price risk on commodity inventory (3) | (24 | ) | 24 | — | (10 | ) | 10 | — | ||||||||||||||||||||||||
Total | $ | (282 | ) | $ | (23 | ) | $ | (305 | ) | $ | (1,540 | ) | $ | 663 | $ | (877 | ) | |||||||||||||||
(1) | Amounts are recorded in interest expense on long-term debt and in other income (loss). | |||||||||||||||||||||||||||||||
(2) | Amounts are recorded in interest income on debt securities. Hedged AFS securities positions were sold during the six months ended June 30, 2013 and the related hedges were terminated. | |||||||||||||||||||||||||||||||
(3) | Amounts relating to commodity inventory are recorded in trading account profits. | |||||||||||||||||||||||||||||||
Cash Flow and Net Investment Hedges | ||||||||||||||||||||||||||||||||
The table below summarizes certain information related to cash flow hedges and net investment hedges for the three and nine months ended September 30, 2013 and 2012. During the next 12 months, net losses in accumulated other comprehensive income (OCI) of $889 million ($560 million after-tax) on derivative instruments that qualify as cash flow hedges are expected to be reclassified into earnings. These net losses reclassified into earnings are expected to primarily reduce net interest income related to the respective hedged items. Amounts related to commodity price risk reclassified from accumulated OCI are recorded in trading account profits with the underlying hedged item. Amounts related to price risk on restricted stock awards reclassified from accumulated OCI are recorded in personnel expense. | ||||||||||||||||||||||||||||||||
Amounts related to foreign exchange risk recognized in accumulated OCI on derivatives exclude pre-tax losses of $7 million related to long-term debt designated as a net investment hedge for the nine months ended September 30, 2012; there were no losses related to these hedges for the three months ended September 30, 2012. There were no such hedges for the three and nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||
Derivatives Designated as Cash Flow and Net Investment Hedges | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions, amounts pre-tax) | Gains (Losses) Recognized in Accumulated OCI on Derivatives | Gains (Losses) in Income Reclassified from Accumulated OCI | Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) | Gains (Losses) Recognized in Accumulated OCI on Derivatives | Gains (Losses) in Income Reclassified from Accumulated OCI | Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) | ||||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||||||||||
Interest rate risk on variable-rate portfolios | $ | (15 | ) | $ | (271 | ) | $ | 1 | $ | (305 | ) | $ | (801 | ) | $ | (1 | ) | |||||||||||||||
Price risk on restricted stock awards | 137 | 108 | — | 302 | 217 | — | ||||||||||||||||||||||||||
Total | $ | 122 | $ | (163 | ) | $ | 1 | $ | (3 | ) | $ | (584 | ) | $ | (1 | ) | ||||||||||||||||
Net investment hedges | ||||||||||||||||||||||||||||||||
Foreign exchange risk | $ | (1,472 | ) | $ | 2 | $ | (31 | ) | $ | 1,008 | $ | (89 | ) | $ | (103 | ) | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||||||||||
Interest rate risk on variable-rate portfolios | $ | 21 | $ | (260 | ) | $ | — | $ | (32 | ) | $ | (636 | ) | $ | — | |||||||||||||||||
Commodity price risk on forecasted purchases and sales | — | 3 | — | — | — | — | ||||||||||||||||||||||||||
Price risk on restricted stock awards | 65 | (28 | ) | — | 155 | (90 | ) | — | ||||||||||||||||||||||||
Total | $ | 86 | $ | (285 | ) | $ | — | $ | 123 | $ | (726 | ) | $ | — | ||||||||||||||||||
Net investment hedges | ||||||||||||||||||||||||||||||||
Foreign exchange risk | $ | (1,149 | ) | $ | 11 | $ | (13 | ) | $ | (1,021 | ) | $ | (26 | ) | $ | (180 | ) | |||||||||||||||
(1) | Amounts related to derivatives designated as cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing. | |||||||||||||||||||||||||||||||
Other Risk Management Derivatives | ||||||||||||||||||||||||||||||||
Other risk management derivatives are used by the Corporation to reduce certain risk exposures. These derivatives are not qualifying accounting hedges because either they did not qualify for or were not designated as accounting hedges. The table below presents gains (losses) on these derivatives for the three and nine months ended September 30, 2013 and 2012. These gains (losses) are largely offset by the income or expense that is recorded on the hedged item. | ||||||||||||||||||||||||||||||||
Other Risk Management Derivatives | ||||||||||||||||||||||||||||||||
Gains (Losses) | Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||
Price risk on mortgage banking production income (1, 2) | $ | (203 | ) | $ | 850 | $ | 687 | $ | 2,240 | |||||||||||||||||||||||
Market-related risk on mortgage banking servicing income (1) | 44 | 822 | (937 | ) | 1,970 | |||||||||||||||||||||||||||
Credit risk on loans (3) | (16 | ) | (32 | ) | (23 | ) | (70 | ) | ||||||||||||||||||||||||
Interest rate and foreign currency risk on ALM activities (4) | 1,195 | (309 | ) | 1,703 | (987 | ) | ||||||||||||||||||||||||||
Price risk on restricted stock awards (5) | 192 | 142 | 432 | 392 | ||||||||||||||||||||||||||||
Other | (4 | ) | 16 | (15 | ) | 105 | ||||||||||||||||||||||||||
Total | $ | 1,208 | $ | 1,489 | $ | 1,847 | $ | 3,650 | ||||||||||||||||||||||||
(1) | Net gains on these derivatives are recorded in mortgage banking income. | |||||||||||||||||||||||||||||||
(2) | Includes net gains on interest rate lock commitments related to the origination of mortgage loans that are held-for-sale, which are considered derivative instruments, of $228 million and $767 million for the three and nine months ended September 30, 2013 compared to $1.0 billion and $2.4 billion for the same periods in 2012. | |||||||||||||||||||||||||||||||
(3) | Net gains (losses) on these derivatives are recorded in other income (loss). | |||||||||||||||||||||||||||||||
(4) | The balance is primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Results from these items are recorded in other income (loss). The offsetting mark-to-market, while not included in the table above, is also recorded in other income (loss). | |||||||||||||||||||||||||||||||
(5) | Gains (losses) on these derivatives are recorded in personnel expense. | |||||||||||||||||||||||||||||||
Sales and Trading Revenue | ||||||||||||||||||||||||||||||||
The Corporation enters into trading derivatives to facilitate client transactions and to manage risk exposures arising from trading account assets and liabilities. It is the Corporation's policy to include these derivative instruments in its trading activities which include derivatives and non-derivative cash instruments. The resulting risk from these derivatives is managed on a portfolio basis as part of the Corporation's Global Markets business segment. The related sales and trading revenue generated within Global Markets is recorded in various income statement line items including trading account profits and net interest income as well as other revenue categories. However, the majority of income related to derivative instruments is recorded in trading account profits. | ||||||||||||||||||||||||||||||||
Sales and trading revenue includes changes in the fair value and realized gains and losses on the sales of trading and other assets, net interest income, and fees primarily from commissions on equity securities. Revenue is generated by the difference in the client price for an instrument and the price at which the trading desk can execute the trade in the dealer market. For equity securities, commissions related to purchases and sales are recorded in the "Other" column in the Sales and Trading Revenue table. Changes in the fair value of these securities are included in trading account profits. For debt securities, revenue, with the exception of interest associated with the debt securities, is typically included in trading account profits. Unlike commissions for equity securities, the initial revenue related to broker/dealer services for debt securities is typically included in the pricing of the instrument rather than being charged through separate fee arrangements. Therefore, this revenue is recorded in trading account profits as part of the initial mark to fair value. For derivatives, all revenue is included in trading account profits. In transactions where the Corporation acts as agent, which include exchange-traded futures and options, fees are recorded in other income (loss). | ||||||||||||||||||||||||||||||||
Gains (losses) on certain instruments, primarily loans, that the Global Markets business segment shares with Global Banking are not considered trading instruments and are excluded from sales and trading revenue in their entirety. | ||||||||||||||||||||||||||||||||
The table below, which includes both derivatives and non-derivative cash instruments, identifies the amounts in the respective income statement line items attributable to the Corporation's sales and trading revenue in Global Markets, categorized by primary risk, for the three and nine months ended September 30, 2013 and 2012. The difference between total trading account profits in the table below and in the Consolidated Statement of Income represents trading activities in business segments other than Global Markets. This table includes debit valuation adjustment (DVA) gains (losses), net of hedges. Global Markets results in Note 20 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on a FTE basis. | ||||||||||||||||||||||||||||||||
Sales and Trading Revenue | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Trading | Net Interest Income | Other (1) | Total | Trading | Net Interest Income | Other (1) | Total | ||||||||||||||||||||||||
Account | Account | |||||||||||||||||||||||||||||||
Profits | Profits | |||||||||||||||||||||||||||||||
Interest rate risk | $ | 188 | $ | 237 | $ | 31 | $ | 456 | $ | 1,207 | $ | 800 | $ | 66 | $ | 2,073 | ||||||||||||||||
Foreign exchange risk | 215 | 2 | (6 | ) | 211 | 890 | 3 | (21 | ) | 872 | ||||||||||||||||||||||
Equity risk | 392 | 48 | 505 | 945 | 1,663 | 42 | 1,598 | 3,303 | ||||||||||||||||||||||||
Credit risk | 349 | 622 | 79 | 1,050 | 1,805 | 2,010 | (167 | ) | 3,648 | |||||||||||||||||||||||
Other risk | 57 | (56 | ) | 5 | 6 | 374 | (141 | ) | 35 | 268 | ||||||||||||||||||||||
Total sales and trading revenue | $ | 1,201 | $ | 853 | $ | 614 | $ | 2,668 | $ | 5,939 | $ | 2,714 | $ | 1,511 | $ | 10,164 | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Interest rate risk | $ | 68 | $ | 267 | $ | (4 | ) | $ | 331 | $ | 522 | $ | 752 | $ | (21 | ) | $ | 1,253 | ||||||||||||||
Foreign exchange risk | 193 | 1 | 13 | 207 | 659 | 5 | 12 | 676 | ||||||||||||||||||||||||
Equity risk | 195 | 15 | 457 | 667 | 988 | (90 | ) | 1,442 | 2,340 | |||||||||||||||||||||||
Credit risk | 663 | 552 | 130 | 1,345 | 2,387 | 1,632 | 862 | 4,881 | ||||||||||||||||||||||||
Other risk | 118 | (45 | ) | (12 | ) | 61 | 425 | (168 | ) | 30 | 287 | |||||||||||||||||||||
Total sales and trading revenue | $ | 1,237 | $ | 790 | $ | 584 | $ | 2,611 | $ | 4,981 | $ | 2,131 | $ | 2,325 | $ | 9,437 | ||||||||||||||||
(1) | Represents amounts in investment and brokerage services and other income (loss) that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $480 million and $1.6 billion for the three and nine months ended September 30, 2013 and $428 million and $1.4 billion for the same periods in 2012. | |||||||||||||||||||||||||||||||
Credit Derivatives | ||||||||||||||||||||||||||||||||
The Corporation enters into credit derivatives primarily to facilitate client transactions and to manage credit risk exposures. Credit derivatives derive value based on an underlying third-party referenced obligation or a portfolio of referenced obligations and generally require the Corporation, as the seller of credit protection, to make payments to a buyer upon the occurrence of a pre-defined credit event. Such credit events generally include bankruptcy of the referenced credit entity and failure to pay under the obligation, as well as acceleration of indebtedness and payment repudiation or moratorium. For credit derivatives based on a portfolio of referenced credits or credit indices, the Corporation may not be required to make payment until a specified amount of loss has occurred and/or may only be required to make payment up to a specified amount. | ||||||||||||||||||||||||||||||||
Credit derivative instruments where the Corporation is the seller of credit protection and their expiration are summarized at September 30, 2013 and December 31, 2012 in the table below. These instruments are classified as investment and non-investment grade based on the credit quality of the underlying referenced obligation. The Corporation considers ratings of BBB- or higher as investment grade. Non-investment grade includes non-rated credit derivative instruments. | ||||||||||||||||||||||||||||||||
Credit Derivative Instruments | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying Value | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Less than | One to | Three to | Over Five | Total | |||||||||||||||||||||||||||
One Year | Three Years | Five Years | Years | |||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 11 | $ | 629 | $ | 2,874 | $ | 2,039 | $ | 5,553 | ||||||||||||||||||||||
Non-investment grade | 679 | 2,705 | 4,158 | 7,810 | 15,352 | |||||||||||||||||||||||||||
Total | 690 | 3,334 | 7,032 | 9,849 | 20,905 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 26 | — | — | — | 26 | |||||||||||||||||||||||||||
Non-investment grade | 98 | 65 | 35 | 12 | 210 | |||||||||||||||||||||||||||
Total | 124 | 65 | 35 | 12 | 236 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 814 | $ | 3,399 | $ | 7,067 | $ | 9,861 | $ | 21,141 | ||||||||||||||||||||||
Credit-related notes: (1) | ||||||||||||||||||||||||||||||||
Investment grade | $ | 1 | $ | 270 | $ | 291 | $ | 4,705 | $ | 5,267 | ||||||||||||||||||||||
Non-investment grade | 159 | 154 | 702 | 980 | 1,995 | |||||||||||||||||||||||||||
Total credit-related notes | $ | 160 | $ | 424 | $ | 993 | $ | 5,685 | $ | 7,262 | ||||||||||||||||||||||
Maximum Payout/Notional | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 211,697 | $ | 361,303 | $ | 482,919 | $ | 56,592 | $ | 1,112,511 | ||||||||||||||||||||||
Non-investment grade | 62,546 | 96,021 | 110,575 | 36,243 | 305,385 | |||||||||||||||||||||||||||
Total | 274,243 | 457,324 | 593,494 | 92,835 | 1,417,896 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 30,937 | — | — | — | 30,937 | |||||||||||||||||||||||||||
Non-investment grade | 33,036 | 6,265 | 5,744 | 1,545 | 46,590 | |||||||||||||||||||||||||||
Total | 63,973 | 6,265 | 5,744 | 1,545 | 77,527 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 338,216 | $ | 463,589 | $ | 599,238 | $ | 94,380 | $ | 1,495,423 | ||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Carrying Value | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 52 | $ | 757 | $ | 5,595 | $ | 2,903 | $ | 9,307 | ||||||||||||||||||||||
Non-investment grade | 923 | 4,403 | 7,030 | 10,959 | 23,315 | |||||||||||||||||||||||||||
Total | 975 | 5,160 | 12,625 | 13,862 | 32,622 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 39 | — | — | — | 39 | |||||||||||||||||||||||||||
Non-investment grade | 57 | 104 | 39 | 37 | 237 | |||||||||||||||||||||||||||
Total | 96 | 104 | 39 | 37 | 276 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 1,071 | $ | 5,264 | $ | 12,664 | $ | 13,899 | $ | 32,898 | ||||||||||||||||||||||
Credit-related notes: (1) | ||||||||||||||||||||||||||||||||
Investment grade | $ | 4 | $ | 12 | $ | 441 | $ | 3,849 | $ | 4,306 | ||||||||||||||||||||||
Non-investment grade | 116 | 161 | 314 | 1,425 | 2,016 | |||||||||||||||||||||||||||
Total credit-related notes | $ | 120 | $ | 173 | $ | 755 | $ | 5,274 | $ | 6,322 | ||||||||||||||||||||||
Maximum Payout/Notional | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 260,177 | $ | 349,125 | $ | 500,038 | $ | 90,453 | $ | 1,199,793 | ||||||||||||||||||||||
Non-investment grade | 79,861 | 99,043 | 110,248 | 42,559 | 331,711 | |||||||||||||||||||||||||||
Total | 340,038 | 448,168 | 610,286 | 133,012 | 1,531,504 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 43,536 | 15 | — | — | 43,551 | |||||||||||||||||||||||||||
Non-investment grade | 5,566 | 11,028 | 7,631 | 1,035 | 25,260 | |||||||||||||||||||||||||||
Total | 49,102 | 11,043 | 7,631 | 1,035 | 68,811 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 389,140 | $ | 459,211 | $ | 617,917 | $ | 134,047 | $ | 1,600,315 | ||||||||||||||||||||||
(1) | For credit-related notes, maximum payout/notional is the same as carrying value. | |||||||||||||||||||||||||||||||
The notional amount represents the maximum amount payable by the Corporation for most credit derivatives. However, the Corporation does not monitor its exposure to credit derivatives based solely on the notional amount because this measure does not take into consideration the probability of occurrence. As such, the notional amount is not a reliable indicator of the Corporation's exposure to these contracts. Instead, a risk framework is used to define risk tolerances and establish limits to help ensure that certain credit risk-related losses occur within acceptable, predefined limits. | ||||||||||||||||||||||||||||||||
The Corporation manages its market risk exposure to credit derivatives by entering into a variety of offsetting derivative contracts and security positions. For example, in certain instances, the Corporation may purchase credit protection with identical underlying referenced names to offset its exposure. The carrying value and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names and terms were $14.2 billion and $1.1 trillion at September 30, 2013, and $20.7 billion and $1.1 trillion at December 31, 2012. | ||||||||||||||||||||||||||||||||
Credit-related notes in the table on page 164 include investments in securities issued by collateralized debt obligation (CDO), collateralized loan obligation (CLO) and credit-linked note vehicles. These instruments are primarily classified as trading securities. The carrying value of these instruments equals the Corporation's maximum exposure to loss. The Corporation is not obligated to make any payments to the entities under the terms of the securities owned. The Corporation discloses internal categorizations of investment grade and non-investment grade consistent with how risk is managed for these instruments. | ||||||||||||||||||||||||||||||||
Credit-related Contingent Features and Collateral | ||||||||||||||||||||||||||||||||
The Corporation executes the majority of its derivative contracts in the OTC market with large, international financial institutions, including broker/dealers and, to a lesser degree, with a variety of non-financial companies. Substantially all of the derivative transactions are executed on a daily margin basis. Therefore, events such as a credit rating downgrade (depending on the ultimate rating level) or a breach of credit covenants would typically require an increase in the amount of collateral required of the counterparty, where applicable, and/or allow the Corporation to take additional protective measures such as early termination of all trades. Further, as previously discussed on page 156, the Corporation enters into legally enforceable master netting agreements which reduce risk by permitting the closeout and netting of transactions with the same counterparty upon the occurrence of certain events. | ||||||||||||||||||||||||||||||||
A majority of the Corporation's derivative contracts contain credit risk-related contingent features, primarily in the form of ISDA master netting agreements and credit support documentation that enhance the creditworthiness of these instruments compared to other obligations of the respective counterparty with whom the Corporation has transacted. These contingent features may be for the benefit of the Corporation as well as its counterparties with respect to changes in the Corporation's creditworthiness and the mark-to-market exposure under the derivative transactions. At September 30, 2013 and December 31, 2012, the Corporation held cash and securities collateral of $75.6 billion and $85.6 billion, and posted cash and securities collateral of $58.7 billion and $74.1 billion in the normal course of business under derivative agreements. | ||||||||||||||||||||||||||||||||
In connection with certain OTC derivative contracts and other trading agreements, the Corporation can be required to provide additional collateral or to terminate transactions with certain counterparties in the event of a downgrade of the senior debt ratings of the Corporation or certain subsidiaries. The amount of additional collateral required depends on the contract and is usually a fixed incremental amount and/or the market value of the exposure. | ||||||||||||||||||||||||||||||||
At September 30, 2013, the amount of collateral, calculated based on the terms of the contracts, that the Corporation and certain subsidiaries could be required to post to counterparties but had not yet posted to counterparties was approximately $1.8 billion, including $800 million for BANA. | ||||||||||||||||||||||||||||||||
Some counterparties are currently able to unilaterally terminate certain contracts, or the Corporation or certain subsidiaries may be required to take other action such as find a suitable replacement or obtain a guarantee. At September 30, 2013, the current liability recorded for these derivative contracts was $281 million, against which the Corporation and certain subsidiaries had posted approximately $198 million of collateral. | ||||||||||||||||||||||||||||||||
At September 30, 2013, if the rating agencies had downgraded their long-term senior debt ratings for the Corporation or certain subsidiaries by one incremental notch, the amount of additional collateral contractually required by derivative contracts and other trading agreements would have been approximately $3.4 billion, including $3.0 billion for BANA. If the rating agencies had downgraded their long-term senior debt ratings for these entities by an additional second incremental notch, approximately $4.4 billion in additional incremental collateral, including $300 million for BANA, would have been required. | ||||||||||||||||||||||||||||||||
Also, if the rating agencies had downgraded their long-term senior debt ratings for the Corporation or certain subsidiaries by one incremental notch, the derivative liability that would be subject to unilateral termination by counterparties as of September 30, 2013 was $2.3 billion, against which $1.9 billion of collateral has been posted. If the rating agencies had downgraded their long-term senior debt ratings for the Corporation and certain subsidiaries by a second incremental notch, the derivative liability that would be subject to unilateral termination by counterparties as of September 30, 2013 was an incremental $1.2 billion, against which $800 million of collateral has been posted. | ||||||||||||||||||||||||||||||||
Valuation Adjustments on Derivatives | ||||||||||||||||||||||||||||||||
The Corporation records credit risk valuation adjustments on derivatives in order to properly reflect the credit quality of the counterparties and its own credit quality. The Corporation calculates valuation adjustments on derivatives based on a modeled expected exposure that incorporates current market risk factors. The exposure also takes into consideration credit mitigants such as enforceable master netting agreements and collateral. CDS spread data is used to estimate the default probabilities and severities that are applied to the exposures. Where no observable credit default data is available for counterparties, the Corporation uses proxies and other market data to estimate default probabilities and severity. | ||||||||||||||||||||||||||||||||
Valuation adjustments on derivatives are affected by changes in market spreads, non-credit related market factors such as interest rate and currency changes that affect the expected exposure, and other factors like changes in collateral arrangements and partial payments. Credit spreads and non-credit factors can move independently. For example, for an interest rate swap, changes in interest rates may increase the expected exposure which would increase the counterparty credit valuation adjustment (CVA). Independently, counterparty credit spreads may tighten, which would result in an offsetting decrease to CVA. | ||||||||||||||||||||||||||||||||
The Corporation may enter into risk management activities to offset market driven exposures. The Corporation often hedges the counterparty spread risk in CVA with CDS and often hedges the other market risks in both CVA and DVA primarily with currency and interest rate swaps. Since the components of the valuation adjustments on derivatives move independently and the Corporation may not hedge all of the market driven exposures, the effect of a hedge may increase the gross valuation adjustments on derivatives or may result in a gross positive valuation adjustment on derivatives becoming a negative adjustment (or the reverse). | ||||||||||||||||||||||||||||||||
In early 2013, the Corporation refined its methodology for calculating CVA and DVA, on a prospective basis, to adjust the way it values mutual termination clauses in derivatives contracts and to more fully incorporate the potential for the counterparties to default prior to a change in their credit ratings. This change in estimate increased CVA by $361 million and DVA by $433 million resulting in a net positive earnings impact of $72 million at the time of the change and is included in the results for the nine months ended September 30, 2013. The net CVA and DVA excluding the impact of these refinements was a gain of $230 million and a loss of $307 million for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||
The table below presents CVA and DVA gains (losses) for the Corporation on a gross and net of hedge basis, which are recorded in trading account profits. | ||||||||||||||||||||||||||||||||
Valuation Adjustments on Derivatives | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(Dollars in millions) | Gross | Net | Gross | Net | Gross | Net | Gross | Net | ||||||||||||||||||||||||
Derivative assets (CVA) (1) | $ | 335 | $ | 102 | $ | 525 | $ | 75 | $ | 347 | $ | (131 | ) | $ | 725 | $ | 237 | |||||||||||||||
Derivative liabilities (DVA) (2) | (293 | ) | (292 | ) | (606 | ) | (583 | ) | 159 | 126 | (1,899 | ) | (2,200 | ) | ||||||||||||||||||
(1) | At September 30, 2013 and December 31, 2012, the cumulative CVA reduced the derivative assets balance by $2.0 billion and $2.4 billion. | |||||||||||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, the cumulative DVA reduced the derivative liabilities balance by $1.0 billion and $807 million. |
Securities
Securities | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||
Securities | ||||||||||||||||||||||||||||||
NOTE 4 – Securities | ||||||||||||||||||||||||||||||
The Corporation's debt securities carried at fair value include debt securities purchased for longer term investment purposes and are used as part of ALM and other strategic activities. Generally, debt securities carried at fair value are accounted for as available-for-sale (AFS) debt securities with unrealized gains and losses reported in accumulated OCI. For certain other debt securities purchased for ALM and other strategic purposes, the Corporation has elected to report those securities at fair value with unrealized gains and losses reported in other income (loss) in the Consolidated Statement of Income. | ||||||||||||||||||||||||||||||
As a result of growth in the portfolio of debt securities carried at fair value with unrealized gains and losses recorded in other income (loss) and to better reflect how such portfolio is managed as part of the ALM activities, the Corporation changed the presentation of such securities in the first quarter of 2013 to combine debt securities carried at fair value into one line item on the Consolidated Balance Sheet. Previously, the portfolio of debt securities carried at fair value with unrealized gains and losses recorded in other income (loss) was classified in other assets. The Corporation may hedge these debt securities with risk management derivatives with the unrealized gains and losses also reported in other income (loss). Certain debt securities are carried at fair value with unrealized gains and losses reported in other income (loss) to mitigate accounting asymmetry with the risk management derivatives and to achieve operational simplifications. Debt securities purchased for trading purposes are reported in Note 2 – Trading Account Assets and Liabilities. Prior-period amounts have been reclassified to conform to the current period presentation. | ||||||||||||||||||||||||||||||
The following tables present the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value, held-to-maturity (HTM) debt securities and marketable equity securities at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||
Debt Securities and Available-for-Sale Marketable Equity Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 2,872 | $ | 127 | $ | (28 | ) | $ | 2,971 | |||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 170,911 | 1,311 | (3,197 | ) | 169,025 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 27,187 | 340 | (192 | ) | 27,335 | |||||||||||||||||||||||||
Non-agency residential (1) | 6,788 | 239 | (98 | ) | 6,929 | |||||||||||||||||||||||||
Commercial | 2,751 | 84 | (8 | ) | 2,827 | |||||||||||||||||||||||||
Non-U.S. securities | 6,217 | 35 | (12 | ) | 6,240 | |||||||||||||||||||||||||
Corporate/Agency bonds | 1,152 | 28 | (10 | ) | 1,170 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 13,142 | 29 | (6 | ) | 13,165 | |||||||||||||||||||||||||
Total taxable securities | 231,020 | 2,193 | (3,551 | ) | 229,662 | |||||||||||||||||||||||||
Tax-exempt securities | 5,264 | 6 | (36 | ) | 5,234 | |||||||||||||||||||||||||
Total available-for-sale debt securities | 236,284 | 2,199 | (3,587 | ) | 234,896 | |||||||||||||||||||||||||
Other debt securities carried at fair value | 32,365 | 98 | (1,010 | ) | 31,453 | |||||||||||||||||||||||||
Total debt securities carried at fair value | 268,649 | 2,297 | (4,597 | ) | 266,349 | |||||||||||||||||||||||||
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities | 54,649 | 67 | (1,865 | ) | 52,851 | |||||||||||||||||||||||||
Total debt securities | $ | 323,298 | $ | 2,364 | $ | (6,462 | ) | $ | 319,200 | |||||||||||||||||||||
Available-for-sale marketable equity securities (2) | $ | 119 | $ | — | $ | (5 | ) | $ | 114 | |||||||||||||||||||||
(1) | At September 30, 2013, the underlying collateral type included approximately 89 percent prime, seven percent Alt-A and four percent subprime. | |||||||||||||||||||||||||||||
(2) | Classified in other assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||||||||
Debt Securities and Available-for-Sale Marketable Equity Securities | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 24,232 | $ | 324 | $ | (84 | ) | $ | 24,472 | |||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 183,247 | 5,048 | (146 | ) | 188,149 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 36,329 | 1,427 | (218 | ) | 37,538 | |||||||||||||||||||||||||
Non-agency residential (1) | 9,231 | 391 | (128 | ) | 9,494 | |||||||||||||||||||||||||
Non-agency commercial | 3,576 | 348 | — | 3,924 | ||||||||||||||||||||||||||
Non-U.S. securities | 5,574 | 50 | (6 | ) | 5,618 | |||||||||||||||||||||||||
Corporate/Agency bonds | 1,415 | 51 | (16 | ) | 1,450 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 12,089 | 54 | (15 | ) | 12,128 | |||||||||||||||||||||||||
Total taxable securities | 275,693 | 7,693 | (613 | ) | 282,773 | |||||||||||||||||||||||||
Tax-exempt securities | 4,167 | 13 | (47 | ) | 4,133 | |||||||||||||||||||||||||
Total available-for-sale debt securities | 279,860 | 7,706 | (660 | ) | 286,906 | |||||||||||||||||||||||||
Other debt securities carried at fair value | 23,927 | 120 | (103 | ) | 23,944 | |||||||||||||||||||||||||
Total debt securities carried at fair value | 303,787 | 7,826 | (763 | ) | 310,850 | |||||||||||||||||||||||||
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities | 49,481 | 815 | (26 | ) | 50,270 | |||||||||||||||||||||||||
Total debt securities | $ | 353,268 | $ | 8,641 | $ | (789 | ) | $ | 361,120 | |||||||||||||||||||||
Available-for-sale marketable equity securities (2) | $ | 780 | $ | 732 | $ | — | $ | 1,512 | ||||||||||||||||||||||
(1) | At December 31, 2012, the underlying collateral type included approximately 91 percent prime, six percent Alt-A and three percent subprime. | |||||||||||||||||||||||||||||
(2) | Classified in other assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||||||||
At September 30, 2013, the accumulated net unrealized losses on AFS debt securities included in accumulated OCI were $860 million, net of the related income tax benefit of $528 million. At September 30, 2013 and December 31, 2012, the Corporation had nonperforming AFS debt securities of $97 million and $91 million. | ||||||||||||||||||||||||||||||
The table below presents the components of other debt securities carried at fair value where the changes in fair value are reported in other income (loss) at September 30, 2013 and December 31, 2012. In the three and nine months ended September 30, 2013, the Corporation recorded mark-to-market net losses in other income (loss) of $56 million and $1.6 billion on other debt securities carried at fair value, which excludes the benefit of certain hedges also reported in other income (loss). Amounts in the prior-year periods were insignificant. | ||||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value | ||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | — | $ | 491 | ||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 18,626 | 13,073 | ||||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 563 | 929 | ||||||||||||||||||||||||||||
Commercial | 758 | — | ||||||||||||||||||||||||||||
Non-U.S. securities (1) | 11,506 | 9,451 | ||||||||||||||||||||||||||||
Total | $ | 31,453 | $ | 23,944 | ||||||||||||||||||||||||||
(1) | These securities are used to satisfy certain international regulatory liquidity requirements. | |||||||||||||||||||||||||||||
The Corporation recorded other-than-temporary impairment (OTTI) losses on AFS debt securities for the three and nine months ended September 30, 2013 and 2012 as presented in the table below. A debt security is impaired when its fair value is less than its amortized cost. If the Corporation intends or will more-likely-than-not be required to sell the debt securities prior to recovery, the entire impairment loss is recorded in the Consolidated Statement of Income. For AFS debt securities the Corporation does not intend or will not more-likely-than-not be required to sell, an analysis is performed to determine if any of the impairment is due to credit or whether it is due to other factors (e.g., interest rate). Credit losses are considered unrecoverable and are recorded in the Consolidated Statement of Income with the remaining unrealized losses recorded in accumulated OCI. In certain instances, the credit loss on a debt security may exceed the total impairment, in which case, the portion of the credit loss that exceeds the total impairment is recorded as an unrealized gain in accumulated OCI. | ||||||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Non-agency | Non-agency Commercial | Total | |||||||||||||||||||||||||||
Residential | MBS | |||||||||||||||||||||||||||||
MBS | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (8 | ) | $ | — | $ | (8 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 1 | — | 1 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (7 | ) | $ | — | $ | (7 | ) | ||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (9 | ) | $ | — | $ | (9 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 3 | — | 3 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (6 | ) | $ | — | $ | (6 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (21 | ) | $ | — | $ | (21 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 1 | — | 1 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (20 | ) | $ | — | $ | (20 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (64 | ) | $ | (6 | ) | $ | (70 | ) | |||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 18 | — | 18 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (46 | ) | $ | (6 | ) | $ | (52 | ) | |||||||||||||||||||||
The Corporation's net impairment losses recognized in earnings consist of write-downs to fair value on AFS debt securities the Corporation has the intent to sell or will more-likely-than-not be required to sell and all credit losses. The table below presents a rollforward of the credit losses recognized in earnings for the three and nine months ended September 30, 2013 and 2012 on AFS debt securities that the Corporation does not have the intent to sell or will not more-likely-than-not be required to sell. | ||||||||||||||||||||||||||||||
Rollforward of Credit Losses Recognized | ||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Balance, beginning of period | $ | 205 | $ | 246 | $ | 243 | $ | 310 | ||||||||||||||||||||||
Additions for credit losses recognized on AFS debt securities that had no previous impairment losses | 1 | — | 6 | 6 | ||||||||||||||||||||||||||
Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses | 6 | 6 | 14 | 46 | ||||||||||||||||||||||||||
Reductions for AFS debt securities matured, sold or intended to be sold | — | (8 | ) | (51 | ) | (118 | ) | |||||||||||||||||||||||
Balance, September 30 | $ | 212 | $ | 244 | $ | 212 | $ | 244 | ||||||||||||||||||||||
The Corporation estimates the portion of a loss on a security that is attributable to credit using a discounted cash flow model and estimates the expected cash flows of the underlying collateral using internal credit, interest rate and prepayment risk models that incorporate management's best estimate of current key assumptions such as default rates, loss severity and prepayment rates. Assumptions used for the underlying loans that support the mortgage-backed securities (MBS) can vary widely from loan to loan and are influenced by such factors as loan interest rate, geographic location of the borrower, borrower characteristics and collateral type. Based on these assumptions, the Corporation then determines how the underlying collateral cash flows will be distributed to each MBS issued from the applicable special purpose entity. Expected principal and interest cash flows on an impaired AFS debt security are discounted using the effective yield of each individual impaired AFS debt security. | ||||||||||||||||||||||||||||||
Significant assumptions used in estimating the expected cash flows for measuring credit losses on non-agency residential mortgage-backed securities (RMBS) were as follows at September 30, 2013. | ||||||||||||||||||||||||||||||
Significant Assumptions | ||||||||||||||||||||||||||||||
Range (1) | ||||||||||||||||||||||||||||||
Weighted- | 10th | 90th | ||||||||||||||||||||||||||||
average | Percentile (2) | Percentile (2) | ||||||||||||||||||||||||||||
Annual prepayment speed | 10.50% | 1.30% | 22.10% | |||||||||||||||||||||||||||
Loss severity | 45.8 | 16.4 | 59.1 | |||||||||||||||||||||||||||
Life default rate | 44.6 | 1.3 | 99.7 | |||||||||||||||||||||||||||
(1) | Represents the range of inputs/assumptions based upon the underlying collateral. | |||||||||||||||||||||||||||||
(2) | The value of a variable below which the indicated percentile of observations will fall. | |||||||||||||||||||||||||||||
Annual constant prepayment speed and loss severity rates are projected considering collateral characteristics such as loan-to-value (LTV), creditworthiness of borrowers as measured using FICO scores, and geographic concentrations. The weighted-average severity by collateral type was 42.6 percent for prime, 46.4 percent for Alt-A and 54.4 percent for subprime at September 30, 2013. Additionally, default rates are projected by considering collateral characteristics including, but not limited to, LTV, FICO and geographic concentration. Weighted-average life default rates by collateral type were 31.3 percent for prime, 55.5 percent for Alt-A and 36.3 percent for subprime at September 30, 2013. | ||||||||||||||||||||||||||||||
The following tables present the fair value and the associated gross unrealized losses on AFS debt securities with gross unrealized losses at September 30, 2013 and December 31, 2012, and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer. | ||||||||||||||||||||||||||||||
Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||||||||
Temporarily impaired AFS debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 781 | $ | (28 | ) | $ | — | $ | — | $ | 781 | $ | (28 | ) | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 117,986 | (3,079 | ) | 2,870 | (118 | ) | 120,856 | (3,197 | ) | |||||||||||||||||||||
Agency-collateralized mortgage obligations | 6,417 | (121 | ) | 2,666 | (71 | ) | 9,083 | (192 | ) | |||||||||||||||||||||
Non-agency residential | 921 | (19 | ) | 1,293 | (77 | ) | 2,214 | (96 | ) | |||||||||||||||||||||
Commercial | 274 | (8 | ) | — | — | 274 | (8 | ) | ||||||||||||||||||||||
Non-U.S. securities | — | — | 48 | (12 | ) | 48 | (12 | ) | ||||||||||||||||||||||
Corporate/Agency bonds | 59 | (1 | ) | 279 | (9 | ) | 338 | (10 | ) | |||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 1,392 | (3 | ) | 299 | (3 | ) | 1,691 | (6 | ) | |||||||||||||||||||||
Total taxable securities | 127,830 | (3,259 | ) | 7,455 | (290 | ) | 135,285 | (3,549 | ) | |||||||||||||||||||||
Tax-exempt securities | 1,439 | (14 | ) | 1,004 | (22 | ) | 2,443 | (36 | ) | |||||||||||||||||||||
Total temporarily impaired AFS debt securities | 129,269 | (3,273 | ) | 8,459 | (312 | ) | 137,728 | (3,585 | ) | |||||||||||||||||||||
Other-than-temporarily impaired AFS debt securities (1) | ||||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | — | 2 | (2 | ) | 2 | (2 | ) | ||||||||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired AFS debt securities (2) | $ | 129,269 | $ | (3,273 | ) | $ | 8,461 | $ | (314 | ) | $ | 137,730 | $ | (3,587 | ) | |||||||||||||||
(1) | Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI. | |||||||||||||||||||||||||||||
(2) | At September 30, 2013, the amortized cost of approximately 4,900 AFS debt securities exceeded their fair value by $3.6 billion. | |||||||||||||||||||||||||||||
Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||||||||
Temporarily impaired AFS debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | — | $ | — | $ | 5,608 | $ | (84 | ) | $ | 5,608 | $ | (84 | ) | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 15,593 | (133 | ) | 735 | (13 | ) | 16,328 | (146 | ) | |||||||||||||||||||||
Agency-collateralized mortgage obligations | 5,135 | (121 | ) | 4,994 | (97 | ) | 10,129 | (218 | ) | |||||||||||||||||||||
Non-agency residential | 592 | (13 | ) | 1,555 | (110 | ) | 2,147 | (123 | ) | |||||||||||||||||||||
Non-U.S. securities | 1,715 | (1 | ) | 563 | (5 | ) | 2,278 | (6 | ) | |||||||||||||||||||||
Corporate/Agency bonds | — | — | 277 | (16 | ) | 277 | (16 | ) | ||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 1,678 | (1 | ) | 1,436 | (14 | ) | 3,114 | (15 | ) | |||||||||||||||||||||
Total taxable securities | 24,713 | (269 | ) | 15,168 | (339 | ) | 39,881 | (608 | ) | |||||||||||||||||||||
Tax-exempt securities | 1,609 | (9 | ) | 1,072 | (38 | ) | 2,681 | (47 | ) | |||||||||||||||||||||
Total temporarily impaired AFS debt securities | 26,322 | (278 | ) | 16,240 | (377 | ) | 42,562 | (655 | ) | |||||||||||||||||||||
Other-than-temporarily impaired AFS debt securities (1) | ||||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 14 | (1 | ) | 74 | (4 | ) | 88 | (5 | ) | |||||||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired AFS debt securities (2) | $ | 26,336 | $ | (279 | ) | $ | 16,314 | $ | (381 | ) | $ | 42,650 | $ | (660 | ) | |||||||||||||||
(1) | Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI. | |||||||||||||||||||||||||||||
(2) | At December 31, 2012, the amortized cost of approximately 2,600 AFS debt securities exceeded their fair value by $660 million. | |||||||||||||||||||||||||||||
The amortized cost and fair value of the Corporation's debt securities carried at fair value and HTM debt securities from Fannie Mae (FNMA), the Government National Mortgage Association (GNMA) and Freddie Mac (FHLMC), where the investment exceeded 10 percent of consolidated shareholders' equity at September 30, 2013 and December 31, 2012, are presented in the table below. | ||||||||||||||||||||||||||||||
Selected Securities Exceeding 10 Percent of Shareholders' Equity | ||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||||||
Fannie Mae | $ | 134,317 | $ | 131,689 | $ | 121,522 | $ | 123,933 | ||||||||||||||||||||||
Government National Mortgage Association | 114,509 | 113,138 | 124,348 | 127,541 | ||||||||||||||||||||||||||
Freddie Mac | 26,096 | 25,724 | 22,995 | 23,502 | ||||||||||||||||||||||||||
The expected maturity distribution of the Corporation's MBS, the contractual maturity distribution of the Corporation's debt securities carried at fair value and HTM debt securities, and the yields on the Corporation's debt securities carried at fair value and HTM debt securities at September 30, 2013 are summarized in the table below. Actual maturities may differ from the contractual or expected maturities since borrowers may have the right to prepay obligations with or without prepayment penalties. | ||||||||||||||||||||||||||||||
Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Due in One | Due after One Year | Due after Five | Due after | Total | ||||||||||||||||||||||||||
Year or Less | through Five Years | Years through Ten Years | Ten Years | |||||||||||||||||||||||||||
(Dollars in millions) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | ||||||||||||||||||||
Amortized cost of debt securities carried at fair value | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 544 | 0.62 | % | $ | 810 | 2.22 | % | $ | 1,505 | 4.25 | % | $ | 13 | 2.72 | % | $ | 2,872 | 2.98 | % | ||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 14 | 4.58 | 16,868 | 2.89 | 99,186 | 3.1 | 74,405 | 2.9 | 190,473 | 3.01 | ||||||||||||||||||||
Agency-collateralized mortgage obligations | 1,525 | 0.04 | 6,315 | 1.48 | 19,816 | 3.26 | 12 | 1.39 | 27,668 | 2.67 | ||||||||||||||||||||
Non-agency residential | 366 | 4.8 | 3,788 | 4.54 | 1,868 | 3.51 | 766 | 2.82 | 6,788 | 4.07 | ||||||||||||||||||||
Commercial | 1,721 | 5.08 | 736 | 5.46 | 1,092 | 2.51 | 18 | 3.45 | 3,567 | 4.37 | ||||||||||||||||||||
Non-U.S. securities | 15,411 | 1.02 | 2,152 | 3.91 | 152 | 3.06 | 8 | — | 17,723 | 1.38 | ||||||||||||||||||||
Corporate/Agency bonds | 442 | 2.49 | 564 | 2.66 | 144 | 4.31 | 2 | 6.34 | 1,152 | 2.79 | ||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 4,313 | 1.61 | 5,804 | 1.45 | 2,223 | 1.97 | 802 | 1.04 | 13,142 | 1.57 | ||||||||||||||||||||
Total taxable securities | 24,336 | 1.42 | 37,037 | 2.68 | 125,986 | 3.12 | 76,026 | 2.88 | 263,385 | 2.84 | ||||||||||||||||||||
Tax-exempt securities | 436 | 1.21 | 1,875 | 1.56 | 1,791 | 1.91 | 1,162 | 0.77 | 5,264 | 1.57 | ||||||||||||||||||||
Total amortized cost of debt securities carried at fair value | $ | 24,772 | 1.42 | $ | 38,912 | 2.62 | $ | 127,777 | 3.11 | $ | 77,188 | 2.85 | $ | 268,649 | 2.81 | |||||||||||||||
Amortized cost of HTM debt securities (2) | $ | 6 | 5 | $ | 76 | 2.29 | $ | 53,394 | 2.56 | $ | 1,173 | 2.67 | $ | 54,649 | 2.56 | |||||||||||||||
Debt securities carried at fair value | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 546 | $ | 830 | $ | 1,582 | $ | 13 | $ | 2,971 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 16 | 17,052 | 98,361 | 72,222 | 187,651 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 1,533 | 6,300 | 20,052 | 13 | 27,898 | |||||||||||||||||||||||||
Non-agency residential | 373 | 3,892 | 1,867 | 797 | 6,929 | |||||||||||||||||||||||||
Commercial | 1,759 | 778 | 1,030 | 18 | 3,585 | |||||||||||||||||||||||||
Non-U.S. securities | 15,396 | 2,185 | 157 | 8 | 17,746 | |||||||||||||||||||||||||
Corporate/Agency bonds | 446 | 573 | 148 | 3 | 1,170 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 4,309 | 5,821 | 2,232 | 803 | 13,165 | |||||||||||||||||||||||||
Total taxable securities | 24,378 | 37,431 | 125,429 | 73,877 | 261,115 | |||||||||||||||||||||||||
Tax-exempt securities | 436 | 1,880 | 1,779 | 1,139 | 5,234 | |||||||||||||||||||||||||
Total debt securities carried at fair value | $ | 24,814 | $ | 39,311 | $ | 127,208 | $ | 75,016 | $ | 266,349 | ||||||||||||||||||||
Fair value of HTM debt securities (2) | $ | 6 | $ | 76 | $ | 51,643 | $ | 1,126 | $ | 52,851 | ||||||||||||||||||||
(1) | Average yield is computed using the effective yield of each security at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and excludes the effect of related hedging derivatives. | |||||||||||||||||||||||||||||
(2) | Substantially all U.S. agency MBS. | |||||||||||||||||||||||||||||
The gross realized gains and losses on sales of AFS debt securities for the three and nine months ended September 30, 2013 and 2012 are presented in the table below. | ||||||||||||||||||||||||||||||
Gains and Losses on Sales of AFS Debt Securities | ||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Gross gains | $ | 358 | $ | 361 | $ | 901 | $ | 1,957 | ||||||||||||||||||||||
Gross losses | (2 | ) | (22 | ) | (20 | ) | (466 | ) | ||||||||||||||||||||||
Net gains on sales of AFS debt securities | $ | 356 | $ | 339 | $ | 881 | $ | 1,491 | ||||||||||||||||||||||
Income tax expense attributable to realized net gains on sales of AFS debt securities | $ | 132 | $ | 125 | $ | 326 | $ | 552 | ||||||||||||||||||||||
Certain Corporate and Strategic Investments | ||||||||||||||||||||||||||||||
During the three months ended September 30, 2013, the Corporation sold its remaining investment of 2.0 billion shares of China Construction Bank Corporation (CCB) and realized a pre-tax gain of $753 million reported in equity investment income in the Consolidated Statement of Income. At December 31, 2012, these shares, representing approximately one percent of CCB, were classified as AFS marketable equity securities and carried at fair value with the after-tax unrealized gain included in accumulated OCI. The strategic assistance agreement between the Corporation and CCB, which includes cooperation in specific business areas, has been extended through 2016. | ||||||||||||||||||||||||||||||
The Corporation's 49 percent investment in a merchant services joint venture, which is recorded in Consumer & Business Banking (CBB), had a carrying value of $3.2 billion and $3.3 billion at September 30, 2013 and December 31, 2012. For additional information, see Note 11 – Commitments and Contingencies. |
Outstanding_Loans_and_Leases
Outstanding Loans and Leases | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Outstanding Loans and Leases | |||||||||||||||||||||||||||||||||
NOTE 5 – Outstanding Loans and Leases | |||||||||||||||||||||||||||||||||
The following tables present total outstanding loans and leases and an aging analysis for the Corporation's Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | 30-59 Days | 60-89 Days | 90 Days or | Total | Total Current | Purchased | Loans | Total | |||||||||||||||||||||||||
Past Due (1) | Past Due (1) | More Past Due (2) | Past Due | or Less Than 30 | Credit - | Accounted for | Outstandings | ||||||||||||||||||||||||||
30 Days | Days Past Due (3) | impaired (4) | Under the Fair | ||||||||||||||||||||||||||||||
or More | Value Option | ||||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (5) | $ | 2,182 | $ | 766 | $ | 7,452 | $ | 10,400 | $ | 167,108 | $ | 177,508 | |||||||||||||||||||||
Home equity | 230 | 118 | 654 | 1,002 | 54,714 | 55,716 | |||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (6) | 2,952 | 1,485 | 18,793 | 23,230 | 32,694 | $ | 20,064 | 75,988 | |||||||||||||||||||||||||
Home equity | 439 | 234 | 1,289 | 1,962 | 31,871 | 7,104 | 40,937 | ||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | 609 | 454 | 1,049 | 2,112 | 88,168 | 90,280 | |||||||||||||||||||||||||||
Non-U.S. credit card | 67 | 55 | 142 | 264 | 10,819 | 11,083 | |||||||||||||||||||||||||||
Direct/Indirect consumer (7) | 398 | 188 | 456 | 1,042 | 82,993 | 84,035 | |||||||||||||||||||||||||||
Other consumer (8) | 24 | 9 | 19 | 52 | 1,861 | 1,913 | |||||||||||||||||||||||||||
Total consumer loans | 6,901 | 3,309 | 29,854 | 40,064 | 470,228 | 27,168 | 537,460 | ||||||||||||||||||||||||||
Consumer loans accounted for under the fair value option (9) | $ | 2,186 | 2,186 | ||||||||||||||||||||||||||||||
Total consumer | 6,901 | 3,309 | 29,854 | 40,064 | 470,228 | 27,168 | 2,186 | 539,646 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 187 | 124 | 445 | 756 | 210,358 | 211,114 | |||||||||||||||||||||||||||
Commercial real estate (10) | 44 | 108 | 440 | 592 | 44,348 | 44,940 | |||||||||||||||||||||||||||
Commercial lease financing | 29 | 53 | 72 | 154 | 24,435 | 24,589 | |||||||||||||||||||||||||||
Non-U.S. commercial | 286 | 1 | 3 | 290 | 92,655 | 92,945 | |||||||||||||||||||||||||||
U.S. small business commercial | 71 | 58 | 128 | 257 | 12,891 | 13,148 | |||||||||||||||||||||||||||
Total commercial loans | 617 | 344 | 1,088 | 2,049 | 384,687 | 386,736 | |||||||||||||||||||||||||||
Commercial loans accounted for under the fair value option (9) | 8,010 | 8,010 | |||||||||||||||||||||||||||||||
Total commercial | 617 | 344 | 1,088 | 2,049 | 384,687 | 8,010 | 394,746 | ||||||||||||||||||||||||||
Total loans and leases | $ | 7,518 | $ | 3,653 | $ | 30,942 | $ | 42,113 | $ | 854,915 | $ | 27,168 | $ | 10,196 | $ | 934,392 | |||||||||||||||||
Percentage of outstandings | 0.81 | % | 0.39 | % | 3.31 | % | 4.51 | % | 91.49 | % | 2.91 | % | 1.09 | % | |||||||||||||||||||
(1) | Home loans 30-59 days past due includes fully-insured loans of $2.6 billion and nonperforming loans of $736 million. Home loans 60-89 days past due includes fully-insured loans of $1.2 billion and nonperforming loans of $494 million. | ||||||||||||||||||||||||||||||||
(2) | Home loans includes fully-insured loans of $18.0 billion. | ||||||||||||||||||||||||||||||||
(3) | Home loans includes $6.2 billion and direct/indirect consumer includes $39 million of nonperforming loans. | ||||||||||||||||||||||||||||||||
(4) | PCI loan amounts are shown gross of the valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Total outstandings includes non-U.S. residential mortgage loans of $87 million. | ||||||||||||||||||||||||||||||||
(6) | Total outstandings includes pay option loans of $5.2 billion. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(7) | Total outstandings includes dealer financial services loans of $39.5 billion, consumer lending loans of $3.1 billion, U.S. securities-based lending loans of $30.4 billion, non-U.S. consumer loans of $5.7 billion, student loans of $4.3 billion and other consumer loans of $1.0 billion. | ||||||||||||||||||||||||||||||||
(8) | Total outstandings includes consumer finance loans of $1.2 billion, consumer leases of $492 million, consumer overdrafts of $175 million and other non-U.S. consumer loans of $5 million. | ||||||||||||||||||||||||||||||||
(9) | Consumer loans accounted for under the fair value option were residential mortgage loans of $2.2 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.8 billion and non-U.S. commercial loans of $6.2 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | ||||||||||||||||||||||||||||||||
(10) | Total outstandings includes U.S. commercial real estate loans of $43.5 billion and non-U.S. commercial real estate loans of $1.4 billion. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | 30-59 Days | 60-89 Days | 90 Days or | Total | Total Current | Purchased | Loans | Total | |||||||||||||||||||||||||
Past Due (1) | Past Due (1) | More Past Due (2) | Past Due | or Less Than 30 | Credit - | Accounted for | Outstandings | ||||||||||||||||||||||||||
30 Days | Days Past Due (3) | impaired (4) | Under the Fair | ||||||||||||||||||||||||||||||
or More | Value Option | ||||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (5) | $ | 2,274 | $ | 806 | $ | 6,227 | $ | 9,307 | $ | 160,809 | $ | 170,116 | |||||||||||||||||||||
Home equity | 273 | 146 | 591 | 1,010 | 59,841 | 60,851 | |||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (6) | 2,938 | 1,714 | 26,728 | 31,380 | 33,982 | $ | 17,451 | 82,813 | |||||||||||||||||||||||||
Home equity | 608 | 357 | 1,444 | 2,409 | 36,213 | 8,667 | 47,289 | ||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | 729 | 582 | 1,437 | 2,748 | 92,087 | 94,835 | |||||||||||||||||||||||||||
Non-U.S. credit card | 106 | 85 | 212 | 403 | 11,294 | 11,697 | |||||||||||||||||||||||||||
Direct/Indirect consumer (7) | 569 | 239 | 573 | 1,381 | 81,824 | 83,205 | |||||||||||||||||||||||||||
Other consumer (8) | 48 | 19 | 4 | 71 | 1,557 | 1,628 | |||||||||||||||||||||||||||
Total consumer loans | 7,545 | 3,948 | 37,216 | 48,709 | 477,607 | 26,118 | 552,434 | ||||||||||||||||||||||||||
Consumer loans accounted for under the fair value option (9) | $ | 1,005 | 1,005 | ||||||||||||||||||||||||||||||
Total consumer | 7,545 | 3,948 | 37,216 | 48,709 | 477,607 | 26,118 | 1,005 | 553,439 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 323 | 133 | 639 | 1,095 | 196,031 | 197,126 | |||||||||||||||||||||||||||
Commercial real estate (10) | 79 | 144 | 983 | 1,206 | 37,431 | 38,637 | |||||||||||||||||||||||||||
Commercial lease financing | 84 | 79 | 30 | 193 | 23,650 | 23,843 | |||||||||||||||||||||||||||
Non-U.S. commercial | 2 | — | — | 2 | 74,182 | 74,184 | |||||||||||||||||||||||||||
U.S. small business commercial | 101 | 75 | 168 | 344 | 12,249 | 12,593 | |||||||||||||||||||||||||||
Total commercial loans | 589 | 431 | 1,820 | 2,840 | 343,543 | 346,383 | |||||||||||||||||||||||||||
Commercial loans accounted for under the fair value option (9) | 7,997 | 7,997 | |||||||||||||||||||||||||||||||
Total commercial | 589 | 431 | 1,820 | 2,840 | 343,543 | 7,997 | 354,380 | ||||||||||||||||||||||||||
Total loans and leases | $ | 8,134 | $ | 4,379 | $ | 39,036 | $ | 51,549 | $ | 821,150 | $ | 26,118 | $ | 9,002 | $ | 907,819 | |||||||||||||||||
Percentage of outstandings | 0.9 | % | 0.48 | % | 4.3 | % | 5.68 | % | 90.45 | % | 2.88 | % | 0.99 | % | |||||||||||||||||||
(1) | Home loans 30-59 days past due includes fully-insured loans of $2.3 billion and nonperforming loans of $702 million. Home loans 60-89 days past due includes fully-insured loans of $1.3 billion and nonperforming loans of $558 million. | ||||||||||||||||||||||||||||||||
(2) | Home loans includes fully-insured loans of $22.2 billion. | ||||||||||||||||||||||||||||||||
(3) | Home loans includes $5.5 billion and direct/indirect consumer includes $63 million of nonperforming loans. | ||||||||||||||||||||||||||||||||
(4) | PCI loan amounts are shown gross of the valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Total outstandings includes non-U.S. residential mortgage loans of $93 million. | ||||||||||||||||||||||||||||||||
(6) | Total outstandings includes pay option loans of $6.7 billion. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(7) | Total outstandings includes dealer financial services loans of $35.9 billion, consumer lending loans of $4.7 billion, U.S. securities-based lending loans of $28.3 billion, non-U.S. consumer loans of $8.3 billion, student loans of $4.8 billion and other consumer loans of $1.2 billion. | ||||||||||||||||||||||||||||||||
(8) | Total outstandings includes consumer finance loans of $1.4 billion, consumer leases of $34 million, consumer overdrafts of $177 million and other non-U.S. consumer loans of $5 million. | ||||||||||||||||||||||||||||||||
(9) | Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | ||||||||||||||||||||||||||||||||
(10) | Total outstandings includes U.S. commercial real estate loans of $37.2 billion and non-U.S. commercial real estate loans of $1.5 billion. | ||||||||||||||||||||||||||||||||
The Corporation mitigates a portion of its credit risk on the residential mortgage portfolio through the use of synthetic securitization vehicles. These vehicles issue long-term notes to investors, the proceeds of which are held as cash collateral. The Corporation pays a premium to the vehicles to purchase mezzanine loss protection on a portfolio of residential mortgage loans owned by the Corporation. Cash held in the vehicles is used to reimburse the Corporation in the event that losses on the mortgage portfolio exceed 10 basis points (bps) of the original pool balance, up to the remaining amount of purchased loss protection of $376 million and $500 million at September 30, 2013 and December 31, 2012. The vehicles from which the Corporation purchases credit protection are VIEs. The Corporation does not have a variable interest in these vehicles, and accordingly, these vehicles are not consolidated by the Corporation. Amounts due from the vehicles are recorded in other income (loss) in the Consolidated Statement of Income when the Corporation recognizes a reimbursable loss, as described above. Amounts are collected when reimbursable losses are realized through the sale of the underlying collateral. At September 30, 2013 and December 31, 2012, the Corporation had a receivable of $206 million and $305 million from these vehicles for reimbursement of losses, and principal of $13.5 billion and $17.6 billion of residential mortgage loans was referenced under these agreements. The Corporation records an allowance for credit losses on these loans without regard to the existence of the purchased loss protection as the protection does not represent a guarantee of individual loans. | |||||||||||||||||||||||||||||||||
In addition, the Corporation has entered into long-term credit protection agreements with FNMA and FHLMC on loans totaling $27.6 billion and $24.3 billion at September 30, 2013 and December 31, 2012, providing full protection on residential mortgage loans that become severely delinquent. All of these loans are individually insured and therefore the Corporation does not record an allowance for credit losses related to these loans. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees. | |||||||||||||||||||||||||||||||||
Nonperforming Loans and Leases | |||||||||||||||||||||||||||||||||
In accordance with bank regulatory interagency guidance, the Corporation classifies junior-lien home equity loans as nonperforming when the first-lien loan becomes 90 days past due even if the junior-lien loan is performing. At September 30, 2013 and December 31, 2012, $1.3 billion and $1.5 billion of such loans were included in nonperforming loans. | |||||||||||||||||||||||||||||||||
In accordance with regulatory guidance, the Corporation classifies consumer real estate loans that have been discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower as troubled debt restructurings (TDRs), irrespective of payment history or delinquency status, even if the repayment terms for the loan have not been otherwise modified. The Corporation continues to have a lien on the underlying collateral. At September 30, 2013, nonperforming loans discharged in Chapter 7 bankruptcy with no change in repayment terms at the time of discharge were $1.9 billion of which $1.0 billion were current on their contractual payments while $742 million were 90 days or more past due. Of the contractually current nonperforming loans, more than 70 percent were discharged in Chapter 7 bankruptcy more than 12 months ago, and nearly 50 percent were discharged 24 months or more ago. As subsequent cash payments are received, the interest component of the payments is generally recorded as interest income on a cash basis and the principal component is recorded as a reduction in the carrying value of the loan. | |||||||||||||||||||||||||||||||||
The table below presents the Corporation's nonperforming loans and leases including nonperforming TDRs, and loans accruing past due 90 days or more at September 30, 2013 and December 31, 2012. Nonperforming loans held-for-sale (LHFS) are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | |||||||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||||||
Nonperforming Loans and Leases (1) | Accruing Past Due 90 Days or More | ||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (2) | $ | 3,479 | $ | 3,193 | $ | 5,207 | $ | 3,984 | |||||||||||||||||||||||||
Home equity | 1,417 | 1,265 | — | — | |||||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (2) | 9,849 | 11,862 | 12,753 | 18,173 | |||||||||||||||||||||||||||||
Home equity | 2,759 | 3,017 | — | — | |||||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | n/a | n/a | 1,049 | 1,437 | |||||||||||||||||||||||||||||
Non-U.S. credit card | n/a | n/a | 142 | 212 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 59 | 92 | 437 | 545 | |||||||||||||||||||||||||||||
Other consumer | 18 | 2 | 1 | 2 | |||||||||||||||||||||||||||||
Total consumer | 17,581 | 19,431 | 19,589 | 24,353 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 1,059 | 1,484 | 57 | 65 | |||||||||||||||||||||||||||||
Commercial real estate | 488 | 1,513 | 76 | 29 | |||||||||||||||||||||||||||||
Commercial lease financing | 49 | 44 | 66 | 15 | |||||||||||||||||||||||||||||
Non-U.S. commercial | 86 | 68 | 3 | — | |||||||||||||||||||||||||||||
U.S. small business commercial | 103 | 115 | 83 | 120 | |||||||||||||||||||||||||||||
Total commercial | 1,785 | 3,224 | 285 | 229 | |||||||||||||||||||||||||||||
Total loans and leases | $ | 19,366 | $ | 22,655 | $ | 19,874 | $ | 24,582 | |||||||||||||||||||||||||
(1) | Nonperforming loan balances did not include nonaccruing TDRs removed from the PCI loan portfolio prior to January 1, 2010 of $356 million and $521 million at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
(2) | Residential mortgage loans in the Core and Legacy Assets & Servicing portfolios accruing past due 90 days or more are fully-insured loans. At September 30, 2013 and December 31, 2012, residential mortgage includes $13.9 billion and $17.8 billion of loans on which interest has been curtailed by the FHA, and therefore are no longer accruing interest, although principal is still insured, and $4.1 billion and $4.4 billion of loans on which interest is still accruing. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
The Corporation monitors credit quality within its Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments based on primary credit quality indicators. For more information on the portfolio segments, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. Within the Home Loans portfolio segment, the primary credit quality indicators are refreshed LTV and refreshed FICO score. Refreshed LTV measures the carrying value of the loan as a percentage of the value of property securing the loan, refreshed quarterly. Home equity loans are evaluated using combined loan-to-value (CLTV) which measures the carrying value of the combined loans that have liens against the property and the available line of credit as a percentage of the appraised value of the property securing the loan, refreshed quarterly. FICO score measures the creditworthiness of the borrower based on the financial obligations of the borrower and the borrower's credit history. At a minimum, FICO scores are refreshed quarterly, and in many cases, more frequently. FICO scores are also a primary credit quality indicator for the Credit Card and Other Consumer portfolio segment and the business card portfolio within U.S. small business commercial. Within the Commercial portfolio segment, loans are evaluated using the internal classifications of pass rated or reservable criticized as the primary credit quality indicators. The term reservable criticized refers to those commercial loans that are internally classified or listed by the Corporation as Special Mention, Substandard or Doubtful, which are asset categories defined by regulatory authorities. These assets have an elevated level of risk and may have a high probability of default or total loss. Pass rated refers to all loans not considered reservable criticized. In addition to these primary credit quality indicators, the Corporation uses other credit quality indicators for certain types of loans. | |||||||||||||||||||||||||||||||||
The following tables present certain credit quality indicators for the Corporation's Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Home Loans – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Core Portfolio Residential Mortgage (2) | Legacy Assets & Servicing Residential Mortgage (2) | Residential | Core Portfolio Home Equity (2) | Legacy Assets & Servicing Home Equity (2) | Home | |||||||||||||||||||||||||||
Mortgage PCI (3) | Equity PCI | ||||||||||||||||||||||||||||||||
Refreshed LTV (4) | |||||||||||||||||||||||||||||||||
Less than or equal to 90 percent | $ | 92,172 | $ | 22,199 | $ | 10,760 | $ | 44,827 | $ | 15,827 | $ | 1,963 | |||||||||||||||||||||
Greater than 90 percent but less than or equal to 100 percent | 6,983 | 4,526 | 3,011 | 4,374 | 4,290 | 668 | |||||||||||||||||||||||||||
Greater than 100 percent | 8,212 | 10,466 | 6,293 | 6,515 | 13,716 | 4,473 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 70,141 | 18,733 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 177,508 | $ | 55,924 | $ | 20,064 | $ | 55,716 | $ | 33,833 | $ | 7,104 | |||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,032 | $ | 11,770 | $ | 10,871 | $ | 2,413 | $ | 4,478 | $ | 1,296 | |||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 7,955 | 5,919 | 3,363 | 4,187 | 5,240 | 1,272 | |||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 25,097 | 8,133 | 3,056 | 11,840 | 9,414 | 2,018 | |||||||||||||||||||||||||||
Greater than or equal to 740 | 68,283 | 11,369 | 2,774 | 37,276 | 14,701 | 2,518 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 70,141 | 18,733 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 177,508 | $ | 55,924 | $ | 20,064 | $ | 55,716 | $ | 33,833 | $ | 7,104 | |||||||||||||||||||||
(1) | Excludes $2.2 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | Excludes PCI loans. | ||||||||||||||||||||||||||||||||
(3) | Includes $4.7 billion of pay option loans. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(4) | Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Credit Quality Indicators | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. Credit | Non-U.S. | Direct/Indirect | Other | |||||||||||||||||||||||||||||
Card | Credit Card | Consumer | Consumer (1) | ||||||||||||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 5,112 | $ | — | $ | 1,293 | $ | 571 | |||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 13,106 | — | 3,264 | 273 | |||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 36,054 | — | 10,087 | 205 | |||||||||||||||||||||||||||||
Greater than or equal to 740 | 36,008 | — | 27,419 | 193 | |||||||||||||||||||||||||||||
Other internal credit metrics (2, 3, 4) | — | 11,083 | 41,972 | 671 | |||||||||||||||||||||||||||||
Total credit card and other consumer | $ | 90,280 | $ | 11,083 | $ | 84,035 | $ | 1,913 | |||||||||||||||||||||||||
(1) | 65 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | ||||||||||||||||||||||||||||||||
(2) | Other internal credit metrics may include delinquency status, geography or other factors. | ||||||||||||||||||||||||||||||||
(3) | Direct/indirect consumer includes $36.0 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.3 billion of loans the Corporation no longer originates. | ||||||||||||||||||||||||||||||||
(4) | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At September 30, 2013, 98 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and one percent was 90 days or more past due. | ||||||||||||||||||||||||||||||||
Commercial – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. | Commercial | Commercial | Non-U.S. | U.S. Small | ||||||||||||||||||||||||||||
Commercial | Real Estate | Lease | Commercial | Business | |||||||||||||||||||||||||||||
Financing | Commercial (2) | ||||||||||||||||||||||||||||||||
Risk ratings | |||||||||||||||||||||||||||||||||
Pass rated | $ | 203,620 | $ | 43,135 | $ | 23,500 | $ | 91,399 | $ | 1,313 | |||||||||||||||||||||||
Reservable criticized | 7,494 | 1,805 | 1,089 | 1,546 | 391 | ||||||||||||||||||||||||||||
Refreshed FICO score (3) | |||||||||||||||||||||||||||||||||
Less than 620 | 235 | ||||||||||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 548 | ||||||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 1,594 | ||||||||||||||||||||||||||||||||
Greater than or equal to 740 | 2,820 | ||||||||||||||||||||||||||||||||
Other internal credit metrics (3, 4) | 6,247 | ||||||||||||||||||||||||||||||||
Total commercial | $ | 211,114 | $ | 44,940 | $ | 24,589 | $ | 92,945 | $ | 13,148 | |||||||||||||||||||||||
(1) | Excludes $8.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | U.S. small business commercial includes $295 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At September 30, 2013, 99 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | ||||||||||||||||||||||||||||||||
(3) | Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. | ||||||||||||||||||||||||||||||||
(4) | Other internal credit metrics may include delinquency status, application scores, geography or other factors. | ||||||||||||||||||||||||||||||||
Home Loans – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Core Portfolio | Legacy Assets & Servicing | Residential | Core Portfolio Home Equity (2) | Legacy Assets & Servicing Home | Home | |||||||||||||||||||||||||||
Residential | Residential Mortgage (2) | Mortgage PCI (3) | Equity (2) | Equity PCI | |||||||||||||||||||||||||||||
Mortgage (2) | |||||||||||||||||||||||||||||||||
Refreshed LTV (4) | |||||||||||||||||||||||||||||||||
Less than or equal to 90 percent | $ | 80,585 | $ | 20,613 | $ | 8,581 | $ | 44,971 | $ | 15,922 | $ | 2,074 | |||||||||||||||||||||
Greater than 90 percent but less than or equal to 100 percent | 8,891 | 5,097 | 2,368 | 5,825 | 4,507 | 805 | |||||||||||||||||||||||||||
Greater than 100 percent | 12,984 | 16,454 | 6,502 | 10,055 | 18,193 | 5,788 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 67,656 | 23,198 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 170,116 | $ | 65,362 | $ | 17,451 | $ | 60,851 | $ | 38,622 | $ | 8,667 | |||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,366 | $ | 14,320 | $ | 8,647 | $ | 2,586 | $ | 5,411 | $ | 1,989 | |||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 8,561 | 6,157 | 2,712 | 4,500 | 5,921 | 1,529 | |||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 25,141 | 8,611 | 2,976 | 12,625 | 10,395 | 2,299 | |||||||||||||||||||||||||||
Greater than or equal to 740 | 62,392 | 13,076 | 3,116 | 41,140 | 16,895 | 2,850 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 67,656 | 23,198 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 170,116 | $ | 65,362 | $ | 17,451 | $ | 60,851 | $ | 38,622 | $ | 8,667 | |||||||||||||||||||||
(1) | Excludes $1.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | Excludes PCI loans. | ||||||||||||||||||||||||||||||||
(3) | Includes $6.1 billion of pay option loans. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(4) | Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Credit Quality Indicators | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. Credit | Non-U.S. | Direct/Indirect | Other | |||||||||||||||||||||||||||||
Card | Credit Card | Consumer | Consumer (1) | ||||||||||||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,188 | $ | — | $ | 1,896 | $ | 668 | |||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 13,947 | — | 3,367 | 301 | |||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 37,167 | — | 9,592 | 232 | |||||||||||||||||||||||||||||
Greater than or equal to 740 | 37,533 | — | 25,164 | 212 | |||||||||||||||||||||||||||||
Other internal credit metrics (2, 3, 4) | — | 11,697 | 43,186 | 215 | |||||||||||||||||||||||||||||
Total credit card and other consumer | $ | 94,835 | $ | 11,697 | $ | 83,205 | $ | 1,628 | |||||||||||||||||||||||||
(1) | 87 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | ||||||||||||||||||||||||||||||||
(2) | Other internal credit metrics may include delinquency status, geography or other factors. | ||||||||||||||||||||||||||||||||
(3) | Direct/indirect consumer includes $36.5 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.8 billion of loans the Corporation no longer originates. | ||||||||||||||||||||||||||||||||
(4) | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2012, 97 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and two percent was 90 days or more past due. | ||||||||||||||||||||||||||||||||
Commercial – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. | Commercial Real Estate | Commercial | Non-U.S. | U.S. Small | ||||||||||||||||||||||||||||
Commercial | Lease | Commercial | Business | ||||||||||||||||||||||||||||||
Financing | Commercial (2) | ||||||||||||||||||||||||||||||||
Risk ratings | |||||||||||||||||||||||||||||||||
Pass rated | $ | 189,602 | $ | 34,968 | $ | 22,874 | $ | 72,688 | $ | 1,690 | |||||||||||||||||||||||
Reservable criticized | 7,524 | 3,669 | 969 | 1,496 | 573 | ||||||||||||||||||||||||||||
Refreshed FICO score (3) | |||||||||||||||||||||||||||||||||
Less than 620 | 400 | ||||||||||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 580 | ||||||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 1,553 | ||||||||||||||||||||||||||||||||
Greater than or equal to 740 | 2,496 | ||||||||||||||||||||||||||||||||
Other internal credit metrics (3, 4) | 5,301 | ||||||||||||||||||||||||||||||||
Total commercial | $ | 197,126 | $ | 38,637 | $ | 23,843 | $ | 74,184 | $ | 12,593 | |||||||||||||||||||||||
(1) | Excludes $8.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | U.S. small business commercial includes $366 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2012, 98 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | ||||||||||||||||||||||||||||||||
(3) | Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. | ||||||||||||||||||||||||||||||||
(4) | Other internal credit metrics may include delinquency status, application scores, geography or other factors. | ||||||||||||||||||||||||||||||||
Impaired Loans and Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
A loan is considered impaired when, based on current information, it is probable that the Corporation will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans and all consumer and commercial TDRs. For additional information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. Impaired loans exclude nonperforming consumer loans and nonperforming commercial leases unless they are classified as TDRs. Loans accounted for under the fair value option are also excluded. Purchased credit-impaired (PCI) loans are excluded and reported separately on page 195. | |||||||||||||||||||||||||||||||||
Home Loans | |||||||||||||||||||||||||||||||||
Impaired home loans within the Home Loans portfolio segment consist entirely of TDRs. Excluding PCI loans, most modifications of home loans meet the definition of TDRs when a binding offer is extended to a borrower. Modifications of home loans are done in accordance with the government's Making Home Affordable Program (modifications under government programs) or the Corporation's proprietary programs (modifications under proprietary programs). These modifications are considered to be TDRs if concessions have been granted to borrowers experiencing financial difficulties. Concessions may include reductions in interest rates, capitalization of past due amounts, principal and/or interest forbearance, payment extensions, principal and/or interest forgiveness, or combinations thereof. During 2012, the Corporation implemented a borrower assistance program that provides forgiveness of principal balances in connection with the settlement agreement among the Corporation and certain of its affiliates and subsidiaries, together with the U.S. Department of Justice (DOJ), the U.S. Department of Housing and Urban Development (HUD) and other federal agencies, and 49 state Attorneys General concerning the terms of a global settlement resolving investigations into certain origination, servicing and foreclosure practices (National Mortgage Settlement). In addition, the Corporation also provides interest rate modifications to qualified borrowers pursuant to the National Mortgage Settlement and these interest rate modifications are not considered to be TDRs. | |||||||||||||||||||||||||||||||||
Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers under both government and proprietary programs, including the borrower assistance program pursuant to the National Mortgage Settlement. Trial modifications generally represent a three- to four-month period during which the borrower makes monthly payments under the anticipated modified payment terms. Upon successful completion of the trial period, the Corporation and the borrower enter into a permanent modification. Binding trial modifications are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification. | |||||||||||||||||||||||||||||||||
In accordance with regulatory guidance addressing certain home loans that have been discharged in Chapter 7 bankruptcy, $3.7 billion of home loans that have been discharged in Chapter 7 bankruptcy with no change in repayment terms at the time of discharge were included in TDRs at September 30, 2013, of which $1.9 billion were classified as nonperforming and $1.8 billion were loans fully-insured by the Federal Housing Administration (FHA). Of the $3.7 billion of home loan TDRs, approximately 21 percent, 33 percent and 46 percent were discharged in Chapter 7 bankruptcy in the nine months ended September 30, 2013, in the year ended December 31, 2012 and in years prior to 2012, respectively. For more information on the regulatory guidance on loans discharged in Chapter 7 bankruptcy, see Nonperforming Loans and Leases in this Note. | |||||||||||||||||||||||||||||||||
In accordance with applicable accounting guidance, a home loan, excluding PCI loans which are reported separately, is not classified as impaired unless it is a TDR. Once such a loan has been designated as a TDR, it is then individually assessed for impairment. Home loan TDRs are measured primarily based on the net present value of the estimated cash flows discounted at the loan's original effective interest rate, as discussed in the following paragraph. If the carrying value of a TDR exceeds this amount, a specific allowance is recorded as a component of the allowance for loan and lease losses. Alternatively, home loan TDRs that are considered to be dependent solely on the collateral for repayment (e.g., due to the lack of income verification or as a result of being discharged in Chapter 7 bankruptcy) are measured based on the estimated fair value of the collateral and a charge-off is recorded if the carrying value exceeds the fair value of the collateral. Home loans that reached 180 days past due prior to modification had been charged off to their net realizable value before they were modified as TDRs in accordance with established policy. Therefore, modifications of home loans that are 180 or more days past due as TDRs do not have an impact on the allowance for loan and lease losses nor are additional charge-offs required at the time of modification. Subsequent declines in the fair value of the collateral after a loan has reached 180 days past due are recorded as charge-offs. Fully-insured loans are protected against principal loss, and therefore, the Corporation does not record an allowance for loan and lease losses on the outstanding principal balance, even after they have been modified in a TDR. | |||||||||||||||||||||||||||||||||
The net present value of the estimated cash flows is based on model-driven estimates of projected payments, prepayments, defaults and loss-given-default (LGD). Using statistical modeling methodologies, the Corporation estimates the probability that a loan will default prior to maturity based on the attributes of each loan. The factors that are most relevant to the probability of default are the refreshed LTV, or in the case of a subordinated lien, refreshed CLTV, borrower credit score, months since origination (i.e., vintage) and geography. Each of these factors is further broken down by present collection status (whether the loan is current, delinquent, in default or in bankruptcy). Severity (or LGD) is estimated based on the refreshed LTV for first mortgages or CLTV for subordinated liens. The estimates are based on the Corporation's historical experience as adjusted to reflect an assessment of environmental factors that may not be reflected in the historical data, such as changes in real estate values, local and national economies, underwriting standards and the regulatory environment. The probability of default models also incorporate recent experience with modification programs including redefaults subsequent to modification, a loan's default history prior to modification and the change in borrower payments post-modification. | |||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, remaining commitments to lend additional funds to debtors whose terms have been modified in a home loan TDR were immaterial. Home loan foreclosed properties totaled $546 million and $650 million at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
The table below presents impaired loans in the Corporation's Home Loans portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012, and includes primarily loans managed by Legacy Assets & Servicing. Certain impaired home loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value. | |||||||||||||||||||||||||||||||||
Impaired Loans – Home Loans | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value | Allowance | Principal | Value | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 22,528 | $ | 17,165 | n/a | $ | 20,226 | $ | 14,967 | n/a | |||||||||||||||||||||||
Home equity | 3,002 | 1,328 | n/a | 2,624 | 1,103 | n/a | |||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 13,793 | $ | 13,227 | $ | 1,141 | $ | 14,223 | $ | 13,158 | $ | 1,252 | |||||||||||||||||||||
Home equity | 1,069 | 886 | 343 | 1,256 | 1,022 | 448 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 36,321 | $ | 30,392 | $ | 1,141 | $ | 34,449 | $ | 28,125 | $ | 1,252 | |||||||||||||||||||||
Home equity | 4,071 | 2,214 | 343 | 3,880 | 2,125 | 448 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (1) | Value | Recognized (1) | Value | Recognized (1) | Value | Recognized (1) | ||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 16,984 | $ | 152 | $ | 11,606 | $ | 88 | $ | 16,563 | $ | 436 | $ | 9,734 | $ | 239 | |||||||||||||||||
Home equity | 1,286 | 19 | 819 | 13 | 1,208 | 55 | 603 | 32 | |||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 14,027 | $ | 173 | $ | 11,435 | $ | 97 | $ | 14,221 | $ | 451 | $ | 11,361 | $ | 305 | |||||||||||||||||
Home equity | 902 | 9 | 1,095 | 12 | 942 | 31 | 1,186 | 34 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 31,011 | $ | 325 | $ | 23,041 | $ | 185 | $ | 30,784 | $ | 887 | $ | 21,095 | $ | 544 | |||||||||||||||||
Home equity | 2,188 | 28 | 1,914 | 25 | 2,150 | 86 | 1,789 | 66 | |||||||||||||||||||||||||
(1) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
The table below presents the September 30, 2013 and 2012 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of home loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. The following Home Loans portfolio segment tables include loans that were initially classified as TDRs during the period and also loans that had previously been classified as TDRs and were modified again during the period. These TDRs are managed by Legacy Assets & Servicing. | |||||||||||||||||||||||||||||||||
Home Loans – TDRs Entered into During the Three Months Ended September 30, 2013 and 2012 (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Pre-Modification Interest Rate | Post-Modification Interest Rate | Net Charge-offs | ||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 3,275 | $ | 2,947 | 5.22 | % | 4.52 | % | $ | 64 | |||||||||||||||||||||||
Home equity | 220 | 147 | 5.58 | 4.33 | 36 | ||||||||||||||||||||||||||||
Total | $ | 3,495 | $ | 3,094 | 5.22 | 4.51 | $ | 100 | |||||||||||||||||||||||||
30-Sep-12 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 7,823 | $ | 6,250 | 5.66 | % | 4.31 | % | $ | 129 | |||||||||||||||||||||||
Home equity | 1,570 | 689 | 4.69 | 4.54 | 479 | ||||||||||||||||||||||||||||
Total | $ | 9,393 | $ | 6,939 | 5.51 | 4.34 | $ | 608 | |||||||||||||||||||||||||
Home Loans – TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 10,295 | $ | 9,153 | 5.34 | % | 4.34 | % | $ | 169 | |||||||||||||||||||||||
Home equity | 706 | 425 | 5.55 | 4.17 | 139 | ||||||||||||||||||||||||||||
Total | $ | 11,001 | $ | 9,578 | 5.35 | 4.34 | $ | 308 | |||||||||||||||||||||||||
30-Sep-12 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 10,064 | $ | 8,179 | 5.62 | % | 4.29 | % | $ | 277 | |||||||||||||||||||||||
Home equity | 1,759 | 785 | 4.69 | 4.32 | 577 | ||||||||||||||||||||||||||||
Total | $ | 11,823 | $ | 8,964 | 5.48 | 4.3 | $ | 854 | |||||||||||||||||||||||||
(1) | TDRs entered into during the three and nine months ended September 30, 2013 include residential mortgage modifications with principal forgiveness of $118 million and $462 million. TDRs entered into during the three and nine months ended September 30, 2012 include residential mortgage modifications with principal forgiveness of $294 million and $462 million and home equity mortgage modifications of $2 million and $5 million. | ||||||||||||||||||||||||||||||||
The following tables present the September 30, 2013 and 2012 carrying value for home loans that were modified in a TDR during the three and nine months ended September 30, 2013 and 2012 by type of modification. | |||||||||||||||||||||||||||||||||
Home Loans – Modification Programs | |||||||||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 393 | $ | 3 | $ | 396 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 4 | 2 | 6 | ||||||||||||||||||||||||||||||
Other modifications (1) | 18 | — | 18 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 415 | 5 | 420 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 764 | 13 | 777 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 26 | — | 26 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 57 | 7 | 64 | ||||||||||||||||||||||||||||||
Other modifications (1) | 10 | — | 10 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 857 | 20 | 877 | ||||||||||||||||||||||||||||||
Trial modifications | 1,395 | 51 | 1,446 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 280 | 71 | 351 | ||||||||||||||||||||||||||||||
Total modifications | $ | 2,947 | $ | 147 | $ | 3,094 | |||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 83 | $ | 21 | $ | 104 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 20 | 11 | 31 | ||||||||||||||||||||||||||||||
Other modifications (1) | 2 | — | 2 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 105 | 32 | 137 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 1,153 | 15 | 1,168 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 58 | — | 58 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 124 | 5 | 129 | ||||||||||||||||||||||||||||||
Other modifications (1) | 28 | 6 | 34 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 1,363 | 26 | 1,389 | ||||||||||||||||||||||||||||||
Trial modifications | 1,905 | 43 | 1,948 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 2,877 | 588 | 3,465 | ||||||||||||||||||||||||||||||
Total modifications | $ | 6,250 | $ | 689 | $ | 6,939 | |||||||||||||||||||||||||||
(1) | Includes other modifications such as term or payment extensions and repayment plans. | ||||||||||||||||||||||||||||||||
(2) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the three months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the three months ended September 30, 2013, home loans of $196 million, or 56 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | ||||||||||||||||||||||||||||||||
Home Loans – Modification Programs | |||||||||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 1,127 | $ | 27 | $ | 1,154 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 32 | 14 | 46 | ||||||||||||||||||||||||||||||
Other modifications (1) | 68 | — | 68 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 1,227 | 41 | 1,268 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 2,829 | 50 | 2,879 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 98 | — | 98 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 435 | 17 | 452 | ||||||||||||||||||||||||||||||
Other modifications (1) | 89 | 14 | 103 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 3,451 | 81 | 3,532 | ||||||||||||||||||||||||||||||
Trial modifications | 3,442 | 71 | 3,513 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 1,033 | 232 | 1,265 | ||||||||||||||||||||||||||||||
Total modifications | $ | 9,153 | $ | 425 | $ | 9,578 | |||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 157 | $ | 61 | $ | 218 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 30 | 24 | 54 | ||||||||||||||||||||||||||||||
Other modifications (1) | 18 | — | 18 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 205 | 85 | 290 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 2,054 | 28 | 2,082 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 95 | — | 95 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 248 | 9 | 257 | ||||||||||||||||||||||||||||||
Other modifications (1) | 62 | 13 | 75 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 2,459 | 50 | 2,509 | ||||||||||||||||||||||||||||||
Trial modifications | 2,638 | 62 | 2,700 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 2,877 | 588 | 3,465 | ||||||||||||||||||||||||||||||
Total modifications | $ | 8,179 | $ | 785 | $ | 8,964 | |||||||||||||||||||||||||||
(1) | Includes other modifications such as term or payment extensions and repayment plans. | ||||||||||||||||||||||||||||||||
(2) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the nine months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the nine months ended September 30, 2013, home loans of $671 million, or 53 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | ||||||||||||||||||||||||||||||||
The table below presents the carrying value of loans that entered into payment default during the three and nine months ended September 30, 2013 and 2012 and that were modified in a TDR during the 12 months preceding payment default. A payment default for home loan TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Payment default on a trial modification where the borrower has not yet met the terms of the agreement are included in the table below if the borrower is 90 days or more past due three months after the offer to modify is made. | |||||||||||||||||||||||||||||||||
Home Loans – TDRs Entering Payment Default That Were Modified During the Preceding 12 Months | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 86 | $ | — | $ | 86 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 185 | — | 185 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (1) | 205 | 3 | 208 | ||||||||||||||||||||||||||||||
Trial modifications | 1,205 | 3 | 1,208 | ||||||||||||||||||||||||||||||
Total modifications | $ | 1,681 | $ | 6 | $ | 1,687 | |||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 27 | $ | 2 | $ | 29 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 135 | 2 | 137 | ||||||||||||||||||||||||||||||
Trial modifications | 671 | 7 | 678 | ||||||||||||||||||||||||||||||
Total modifications | $ | 833 | $ | 11 | $ | 844 | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 244 | $ | 2 | $ | 246 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 731 | 4 | 735 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (1) | 809 | 27 | 836 | ||||||||||||||||||||||||||||||
Trial modifications | 3,142 | 8 | 3,150 | ||||||||||||||||||||||||||||||
Total modifications | $ | 4,926 | $ | 41 | $ | 4,967 | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 167 | $ | 6 | $ | 173 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 753 | 11 | 764 | ||||||||||||||||||||||||||||||
Trial modifications | 963 | 16 | 979 | ||||||||||||||||||||||||||||||
Total modifications | $ | 1,883 | $ | 33 | $ | 1,916 | |||||||||||||||||||||||||||
(1) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer | |||||||||||||||||||||||||||||||||
Impaired loans within the Credit Card and Other Consumer portfolio segment consist entirely of loans that have been modified in TDRs (the renegotiated credit card and other consumer TDR portfolio, collectively referred to as the renegotiated TDR portfolio). The Corporation seeks to assist customers that are experiencing financial difficulty by modifying loans while ensuring compliance with federal laws and guidelines. Credit card and other consumer loan modifications generally involve reducing the interest rate on the account and placing the customer on a fixed payment plan not exceeding 60 months, all of which are considered TDRs. In addition, non-U.S. credit card modifications may involve reducing the interest rate on the account without placing the customer on a fixed payment plan, and are also considered TDRs. In all cases, the customer's available line of credit is canceled. The Corporation makes loan modifications directly with borrowers for debt held only by the Corporation (internal programs). Additionally, the Corporation makes loan modifications for borrowers working with third-party renegotiation agencies that provide solutions to customers' entire unsecured debt structures (external programs). | |||||||||||||||||||||||||||||||||
In 2012, regulatory guidance was implemented addressing certain consumer real estate loans that have been discharged in Chapter 7 bankruptcy. The Corporation applies this guidance to other secured consumer loans that have been discharged in Chapter 7 bankruptcy, and such loans are classified as TDRs, written down to collateral value and placed on nonaccrual status no later than the time of discharge. For more information on the regulatory guidance on loans discharged in Chapter 7 bankruptcy, see Nonperforming Loans and Leases in this Note. | |||||||||||||||||||||||||||||||||
All credit card and substantially all other consumer loans that have been modified in TDRs remain on accrual status until the loan is either paid in full or charged off, which occurs no later than the end of the month in which the loan becomes 180 days past due or generally at 120 days past due for a loan that was placed on a fixed payment plan after July 1, 2012. | |||||||||||||||||||||||||||||||||
The allowance for impaired credit card and substantially all other consumer loans is based on the present value of projected cash flows, which incorporates the Corporation's historical payment default and loss experience on modified loans, discounted using the portfolio's average contractual interest rate, excluding promotionally priced loans, in effect prior to restructuring. Prior to modification, credit card and other consumer loans are included in homogeneous pools which are collectively evaluated for impairment. For these portfolios, loss forecast models are utilized that consider a variety of factors including, but not limited to, historical loss experience, delinquency status, economic trends and credit scores. | |||||||||||||||||||||||||||||||||
The table below provides information on the Corporation's renegotiated TDR portfolio in the Credit Card and Other Consumer portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||
Impaired Loans – Credit Card and Other Consumer – Renegotiated TDRs | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value (1) | Allowance | Principal | Value (1) | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,706 | $ | 1,716 | $ | 370 | $ | 2,856 | $ | 2,871 | $ | 719 | |||||||||||||||||||||
Non-U.S. credit card | 246 | 250 | 161 | 311 | 316 | 198 | |||||||||||||||||||||||||||
Direct/Indirect consumer | 351 | 352 | 104 | 633 | 636 | 210 | |||||||||||||||||||||||||||
Other consumer | 28 | 27 | 10 | 30 | 30 | 12 | |||||||||||||||||||||||||||
Without an allowance recorded | |||||||||||||||||||||||||||||||||
Direct/Indirect consumer | 81 | 37 | — | 105 | 58 | — | |||||||||||||||||||||||||||
Other consumer | 34 | 34 | — | 35 | 35 | — | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,706 | $ | 1,716 | $ | 370 | $ | 2,856 | $ | 2,871 | $ | 719 | |||||||||||||||||||||
Non-U.S. credit card | 246 | 250 | 161 | 311 | 316 | 198 | |||||||||||||||||||||||||||
Direct/Indirect consumer | 432 | 389 | 104 | 738 | 694 | 210 | |||||||||||||||||||||||||||
Other consumer | 62 | 61 | 10 | 65 | 65 | 12 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | ||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,926 | $ | 30 | $ | 3,727 | $ | 58 | $ | 2,310 | $ | 108 | $ | 4,380 | $ | 204 | |||||||||||||||||
Non-U.S. credit card | 254 | 2 | 447 | 2 | 274 | 6 | 509 | 7 | |||||||||||||||||||||||||
Direct/Indirect consumer | 406 | 5 | 864 | 12 | 498 | 20 | 1,003 | 41 | |||||||||||||||||||||||||
Other consumer | 27 | 1 | 30 | — | 28 | 2 | 32 | 1 | |||||||||||||||||||||||||
Without an allowance recorded | |||||||||||||||||||||||||||||||||
Direct/Indirect consumer | 38 | — | — | — | 45 | — | — | — | |||||||||||||||||||||||||
Other consumer | 34 | — | 34 | 1 | 34 | 1 | 35 | 2 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,926 | $ | 30 | $ | 3,727 | $ | 58 | $ | 2,310 | $ | 108 | $ | 4,380 | $ | 204 | |||||||||||||||||
Non-U.S. credit card | 254 | 2 | 447 | 2 | 274 | 6 | 509 | 7 | |||||||||||||||||||||||||
Direct/Indirect consumer | 444 | 5 | 864 | 12 | 543 | 20 | 1,003 | 41 | |||||||||||||||||||||||||
Other consumer | 61 | 1 | 64 | 1 | 62 | 3 | 67 | 3 | |||||||||||||||||||||||||
(1) | Includes accrued interest and fees. | ||||||||||||||||||||||||||||||||
(2) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs by Program Type | |||||||||||||||||||||||||||||||||
Internal Programs | External Programs | Other | Total | Percent of Balances Current or | |||||||||||||||||||||||||||||
Less Than 30 Days Past Due | |||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. credit card | $ | 1,016 | $ | 1,887 | $ | 681 | $ | 953 | $ | 19 | $ | 31 | $ | 1,716 | $ | 2,871 | 83.74 | % | 81.48 | % | |||||||||||||
Non-U.S. credit card | 78 | 99 | 27 | 38 | 145 | 179 | 250 | 316 | 49.34 | 43.71 | |||||||||||||||||||||||
Direct/Indirect consumer | 215 | 405 | 131 | 225 | 43 | 64 | 389 | 694 | 84.62 | 83.11 | |||||||||||||||||||||||
Other consumer | 61 | 65 | — | — | — | — | 61 | 65 | 73.13 | 72.73 | |||||||||||||||||||||||
Total renegotiated TDRs | $ | 1,370 | $ | 2,456 | $ | 839 | $ | 1,216 | $ | 207 | $ | 274 | $ | 2,416 | $ | 3,946 | 80.04 | 78.58 | |||||||||||||||
At September 30, 2013 and December 31, 2012, the Corporation had a renegotiated TDR portfolio of $2.4 billion and $3.9 billion of which $1.9 billion was current or less than 30 days past due under the modified terms at September 30, 2013. | |||||||||||||||||||||||||||||||||
The table below provides information on the Corporation's renegotiated TDR portfolio including the unpaid principal balance, carrying value and average pre- and post-modification interest rates of loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. | |||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Three Months September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Pre-Modification Interest Rate | Post-Modification Interest Rate | Net Charge-offs | ||||||||||||||||||||||||||||
Value (1) | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 100 | $ | 102 | 16.86 | % | 5.7 | % | $ | 2 | |||||||||||||||||||||||
Non-U.S. credit card | 61 | 64 | 26.09 | 0.67 | 2 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 16 | 12 | 10.89 | 4.68 | 4 | ||||||||||||||||||||||||||||
Other consumer | 2 | 2 | 9.1 | 6.01 | — | ||||||||||||||||||||||||||||
Total | $ | 179 | $ | 180 | 19.65 | 3.85 | $ | 8 | |||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 102 | $ | 105 | 17.37 | % | 6.32 | % | $ | 2 | |||||||||||||||||||||||
Non-U.S. credit card | 90 | 94 | 26.13 | 0.77 | 4 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 14 | 14 | 15.4 | 3.9 | 2 | ||||||||||||||||||||||||||||
Other consumer | 2 | 2 | 9.91 | 6.17 | — | ||||||||||||||||||||||||||||
Total | $ | 208 | $ | 215 | 21 | 3.73 | $ | 8 | |||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 237 | $ | 240 | 16.88 | % | 5.96 | % | $ | 16 | |||||||||||||||||||||||
Non-U.S. credit card | 138 | 143 | 26.04 | 0.87 | 78 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 41 | 31 | 11.17 | 4.9 | 12 | ||||||||||||||||||||||||||||
Other consumer | 4 | 5 | 9.35 | 5.4 | — | ||||||||||||||||||||||||||||
Total | $ | 420 | $ | 419 | 19.51 | 4.13 | $ | 106 | |||||||||||||||||||||||||
September 30, 2012 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 342 | $ | 346 | 17.73 | % | 6.37 | % | $ | 23 | |||||||||||||||||||||||
Non-U.S. credit card | 194 | 204 | 26.18 | 1.05 | 111 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 50 | 51 | 15.4 | 4.14 | 3 | ||||||||||||||||||||||||||||
Other consumer | 8 | 8 | 10.01 | 6.62 | — | ||||||||||||||||||||||||||||
Total | $ | 594 | $ | 609 | 20.26 | 4.41 | $ | 137 | |||||||||||||||||||||||||
(1) | Includes accrued interest and fees. | ||||||||||||||||||||||||||||||||
The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio for loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Period by Program Type | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Internal Programs | External Programs | Other | Total | |||||||||||||||||||||||||||||
U.S. credit card | $ | 62 | $ | 40 | $ | — | $ | 102 | |||||||||||||||||||||||||
Non-U.S. credit card | 32 | 32 | — | 64 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 4 | 2 | 6 | 12 | |||||||||||||||||||||||||||||
Other consumer | 2 | — | — | 2 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 100 | $ | 74 | $ | 6 | $ | 180 | |||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 64 | $ | 41 | $ | — | $ | 105 | |||||||||||||||||||||||||
Non-U.S. credit card | 51 | 43 | — | 94 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 9 | 5 | — | 14 | |||||||||||||||||||||||||||||
Other consumer | 2 | — | — | 2 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 126 | $ | 89 | $ | — | $ | 215 | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 132 | $ | 108 | $ | — | $ | 240 | |||||||||||||||||||||||||
Non-U.S. credit card | 73 | 70 | — | 143 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 11 | 7 | 13 | 31 | |||||||||||||||||||||||||||||
Other consumer | 5 | — | — | 5 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 221 | $ | 185 | $ | 13 | $ | 419 | |||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 221 | $ | 125 | $ | — | $ | 346 | |||||||||||||||||||||||||
Non-U.S. credit card | 109 | 95 | — | 204 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 34 | 17 | — | 51 | |||||||||||||||||||||||||||||
Other consumer | 8 | — | — | 8 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 372 | $ | 237 | $ | — | $ | 609 | |||||||||||||||||||||||||
Credit card and other consumer loans are deemed to be in payment default during the quarter in which a borrower misses the second of two consecutive payments. Payment defaults are one of the factors considered when projecting future cash flows in the calculation of the allowance for loan and lease losses for impaired credit card and other consumer loans. Based on historical experience, the Corporation estimates that 23 percent of new U.S. credit card TDRs, 69 percent of new non-U.S. credit card TDRs and 19 percent of new direct/indirect consumer TDRs may be in payment default within 12 months after modification. Loans that entered into payment default during the three and nine months ended September 30, 2013 that had been modified in a TDR during the preceding 12 months were $11 million and $49 million for U.S. credit card, $60 million and $181 million for non-U.S. credit card and $1 million and $4 million for direct/indirect consumer. During the three and nine months ended September 30, 2012, loans that entered into payment default that had been modified in a TDR during the preceding 12 months were $40 million and $173 million for U.S. credit card, $69 million and $228 million for non-U.S. credit card and $6 million and $31 million for direct/indirect consumer. | |||||||||||||||||||||||||||||||||
Commercial Loans | |||||||||||||||||||||||||||||||||
Impaired commercial loans, which include nonperforming loans and TDRs (both performing and nonperforming), are primarily measured based on the present value of payments expected to be received, discounted at the loan's original effective interest rate. Commercial impaired loans may also be measured based on observable market prices or, for loans that are solely dependent on the collateral for repayment, the estimated fair value of collateral less costs to sell. If the carrying value of a loan exceeds this amount, a specific allowance is recorded as a component of the allowance for loan and lease losses. | |||||||||||||||||||||||||||||||||
Modifications of loans to commercial borrowers that are experiencing financial difficulty are designed to reduce the Corporation's loss exposure while providing the borrower with an opportunity to work through financial difficulties, often to avoid foreclosure or bankruptcy. Each modification is unique and reflects the individual circumstances of the borrower. Modifications that result in a TDR may include extensions of maturity at a concessionary (below market) rate of interest, payment forbearances or other actions designed to benefit the customer while mitigating the Corporation's risk exposure. Reductions in interest rates are rare. Instead, the interest rates are typically increased, although the increased rate may not represent a market rate of interest. Infrequently, concessions may also include principal forgiveness in connection with foreclosure, short sale or other settlement agreements leading to termination or sale of the loan. | |||||||||||||||||||||||||||||||||
At the time of restructuring, the loans are remeasured to reflect the impact, if any, on projected cash flows resulting from the modified terms. If there was no forgiveness of principal and the interest rate was not decreased, the modification may have little or no impact on the allowance established for the loan. If a portion of the loan is deemed to be uncollectible, a charge-off may be recorded at the time of restructuring. Alternatively, a charge-off may have already been recorded in a previous period such that no charge-off is required at the time of modification. For more information on modifications for the U.S. small business commercial portfolio, see Credit Card and Other Consumer in this Note. | |||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, remaining commitments to lend additional funds to debtors whose terms have been modified in a commercial loan TDR were immaterial. Commercial foreclosed properties totaled $116 million and $250 million at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
The table below presents impaired loans in the Corporation's Commercial loan portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. Certain impaired commercial loans do not have a related allowance as the valuation of these impaired loans exceeded the carrying value, which is net of previously recorded charge-offs. | |||||||||||||||||||||||||||||||||
Impaired Loans – Commercial | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value | Allowance | Principal | Value | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,036 | $ | 960 | n/a | $ | 1,220 | $ | 1,109 | n/a | |||||||||||||||||||||||
Commercial real estate | 525 | 503 | n/a | 1,003 | 902 | n/a | |||||||||||||||||||||||||||
Non-U.S. commercial | 51 | 40 | n/a | 240 | 120 | n/a | |||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,292 | $ | 881 | $ | 150 | $ | 1,782 | $ | 1,138 | $ | 159 | |||||||||||||||||||||
Commercial real estate | 1,099 | 702 | 74 | 2,287 | 1,262 | 201 | |||||||||||||||||||||||||||
Non-U.S. commercial | 235 | 57 | 17 | 280 | 33 | 18 | |||||||||||||||||||||||||||
U.S. small business commercial (1) | 224 | 213 | 45 | 361 | 317 | 97 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 2,328 | $ | 1,841 | $ | 150 | $ | 3,002 | $ | 2,247 | $ | 159 | |||||||||||||||||||||
Commercial real estate | 1,624 | 1,205 | 74 | 3,290 | 2,164 | 201 | |||||||||||||||||||||||||||
Non-U.S. commercial | 286 | 97 | 17 | 520 | 153 | 18 | |||||||||||||||||||||||||||
U.S. small business commercial (1) | 224 | 213 | 45 | 361 | 317 | 97 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | ||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 957 | $ | 7 | $ | 1,113 | $ | 9 | $ | 998 | $ | 19 | $ | 1,078 | $ | 26 | |||||||||||||||||
Commercial real estate | 525 | 3 | 1,318 | 4 | 670 | 10 | 1,661 | 12 | |||||||||||||||||||||||||
Non-U.S. commercial | 65 | — | 140 | 1 | 102 | 3 | 130 | 1 | |||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 928 | $ | 5 | $ | 1,457 | $ | 7 | $ | 1,051 | $ | 20 | $ | 1,727 | $ | 25 | |||||||||||||||||
Commercial real estate | 661 | 5 | 1,552 | 3 | 880 | 14 | 1,865 | 13 | |||||||||||||||||||||||||
Non-U.S. commercial | 68 | — | 50 | 1 | 55 | 2 | 56 | 2 | |||||||||||||||||||||||||
U.S. small business commercial (1) | 218 | 1 | 392 | 3 | 253 | 5 | 433 | 10 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,885 | $ | 12 | $ | 2,570 | $ | 16 | $ | 2,049 | $ | 39 | $ | 2,805 | $ | 51 | |||||||||||||||||
Commercial real estate | 1,186 | 8 | 2,870 | 7 | 1,550 | 24 | 3,526 | 25 | |||||||||||||||||||||||||
Non-U.S. commercial | 133 | — | 190 | 2 | 157 | 5 | 186 | 3 | |||||||||||||||||||||||||
U.S. small business commercial (1) | 218 | 1 | 392 | 3 | 253 | 5 | 433 | 10 | |||||||||||||||||||||||||
(1) | Includes U.S. small business commercial renegotiated TDR loans and related allowance. | ||||||||||||||||||||||||||||||||
(2) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
The table below presents the September 30, 2013 and 2012 unpaid principal balance and carrying value of commercial loans that were modified as TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. The table below includes loans that were initially classified as TDRs during the period and, beginning in the first quarter of 2013, also loans that had previously been classified as TDRs and were modified again during the period. | |||||||||||||||||||||||||||||||||
Commercial – TDRs Entered into During the Three Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Net Charge-offs | ||||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 361 | $ | 357 | $ | 27 | |||||||||||||||||||||||||||
Commercial real estate | 305 | 284 | — | ||||||||||||||||||||||||||||||
Non-U.S. commercial | — | — | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 2 | 3 | — | ||||||||||||||||||||||||||||||
Total | $ | 668 | $ | 644 | $ | 27 | |||||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 152 | $ | 143 | $ | — | |||||||||||||||||||||||||||
Commercial real estate | 373 | 350 | 5 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 22 | 22 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 5 | 6 | 1 | ||||||||||||||||||||||||||||||
Total | $ | 552 | $ | 521 | $ | 6 | |||||||||||||||||||||||||||
Commercial – TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 853 | $ | 771 | $ | 28 | |||||||||||||||||||||||||||
Commercial real estate | 615 | 569 | 3 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 21 | 7 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 7 | 7 | 1 | ||||||||||||||||||||||||||||||
Total | $ | 1,496 | $ | 1,354 | $ | 32 | |||||||||||||||||||||||||||
September 30, 2012 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 558 | $ | 534 | $ | 15 | |||||||||||||||||||||||||||
Commercial real estate | 737 | 695 | 12 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 87 | 87 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 20 | 20 | 3 | ||||||||||||||||||||||||||||||
Total | $ | 1,402 | $ | 1,336 | $ | 30 | |||||||||||||||||||||||||||
(1) | U.S. small business commercial TDRs are comprised of renegotiated small business card loans. | ||||||||||||||||||||||||||||||||
A commercial TDR is generally deemed to be in payment default when the loan is 90 days or more past due, including delinquencies that were not resolved as part of the modification. U.S. small business commercial TDRs are deemed to be in payment default during the quarter in which a borrower misses the second of two consecutive payments. Payment defaults are one of the factors considered when projecting future cash flows, along with observable market prices or fair value of collateral when measuring the allowance for loan losses. TDRs that were in payment default at September 30, 2013 and 2012 had a carrying value of $128 million and $129 million for U.S. commercial, $269 million and $390 million for commercial real estate and $1 million and $28 million for U.S. small business commercial. | |||||||||||||||||||||||||||||||||
Purchased Credit-impaired Loans | |||||||||||||||||||||||||||||||||
PCI loans are acquired loans with evidence of credit quality deterioration since origination for which it is probable at purchase date that the Corporation will be unable to collect all contractually required payments. The following table provides details on PCI loans acquired in connection with the FNMA Settlement during the nine months ended September 30, 2013. | |||||||||||||||||||||||||||||||||
Purchased Loans at Acquisition Date | |||||||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||||||
Contractually required payments including interest | $ | 8,274 | |||||||||||||||||||||||||||||||
Less: Nonaccretable difference | 2,159 | ||||||||||||||||||||||||||||||||
Cash flows expected to be collected (1) | 6,115 | ||||||||||||||||||||||||||||||||
Less: Accretable yield | 1,125 | ||||||||||||||||||||||||||||||||
Fair value of loans acquired | $ | 4,990 | |||||||||||||||||||||||||||||||
(1) | Represents undiscounted expected principal and interest cash flows at acquisition. | ||||||||||||||||||||||||||||||||
The table below shows activity for the accretable yield on PCI loans, which primarily includes the Countrywide Financial Corporation (Countrywide) portfolio and loans repurchased in connection with the FNMA Settlement. For more information on the FNMA Settlement, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees. The amount of accretable yield is affected by changes in credit outlooks, including metrics such as default rates and loss severities, prepayments speeds, which can change the amount and period of time over which interest payments are expected to be received, and the interest rates on variable rate loans. The reclassifications from nonaccretable difference during the three and nine months ended September 30, 2013 were due to increases in expected cash flows driven by improved home prices and lower expected defaults, along with a decrease in prepayment speeds as a result of rising interest rates. Changes in the prepayment assumption affect the expected remaining life of the portfolio which results in a change to the amount of future interest cash flows. | |||||||||||||||||||||||||||||||||
Rollforward of Accretable Yield | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 6,775 | $ | 4,644 | |||||||||||||||||||||||||||||
Accretion | (303 | ) | (901 | ) | |||||||||||||||||||||||||||||
Loans purchased | — | 1,125 | |||||||||||||||||||||||||||||||
Disposals/transfers | (81 | ) | (219 | ) | |||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | 292 | 2,034 | |||||||||||||||||||||||||||||||
Accretable yield, September 30, 2013 | $ | 6,683 | $ | 6,683 | |||||||||||||||||||||||||||||
For more information on PCI loans, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K and Note 6 – Allowance for Credit Losses herein for the carrying value and valuation allowance for PCI loans. | |||||||||||||||||||||||||||||||||
Loans Held-for-sale | |||||||||||||||||||||||||||||||||
The Corporation had LHFS of $15.0 billion and $19.4 billion at September 30, 2013 and December 31, 2012. Proceeds, including cash and securities, from sales, securitizations and paydowns of LHFS were $65.5 billion and $39.5 billion for the nine months ended September 30, 2013 and 2012. Amounts used for originations and purchases of LHFS were $55.6 billion and $39.8 billion for the nine months ended September 30, 2013 and 2012. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Receivables [Abstract] | ||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||
NOTE 6 – Allowance for Credit Losses | ||||||||||||||||
The table below summarizes the changes in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Home Loans | Credit Card | Commercial | Total | ||||||||||||
and Other | ||||||||||||||||
Consumer | ||||||||||||||||
Allowance for loan and lease losses, July 1 | $ | 12,396 | $ | 5,671 | $ | 3,168 | $ | 21,235 | ||||||||
Loans and leases charged off | (766 | ) | (1,296 | ) | (267 | ) | (2,329 | ) | ||||||||
Recoveries of loans and leases previously charged off | 243 | 292 | 107 | 642 | ||||||||||||
Net charge-offs | (523 | ) | (1,004 | ) | (160 | ) | (1,687 | ) | ||||||||
Write-offs of PCI loans | (443 | ) | — | — | (443 | ) | ||||||||||
Provision for loan and lease losses | (920 | ) | 730 | 481 | 291 | |||||||||||
Other (1) | 3 | 33 | — | 36 | ||||||||||||
Allowance for loan and lease losses, September 30 | 10,513 | 5,430 | 3,489 | 19,432 | ||||||||||||
Reserve for unfunded lending commitments, July 1 | — | — | 474 | 474 | ||||||||||||
Provision for unfunded lending commitments | — | — | 5 | 5 | ||||||||||||
Other (2) | — | — | 1 | 1 | ||||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 480 | 480 | ||||||||||||
Allowance for credit losses, September 30 | $ | 10,513 | $ | 5,430 | $ | 3,969 | $ | 19,912 | ||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Allowance for loan and lease losses, July 1 | $ | 19,964 | $ | 7,024 | $ | 3,300 | $ | 30,288 | ||||||||
Loans and leases charged off | (2,480 | ) | (1,721 | ) | (492 | ) | (4,693 | ) | ||||||||
Recoveries of loans and leases previously charged off | 137 | 294 | 140 | 571 | ||||||||||||
Net charge-offs | (2,343 | ) | (1,427 | ) | (352 | ) | (4,122 | ) | ||||||||
Write-offs of PCI loans | (1,705 | ) | — | — | (1,705 | ) | ||||||||||
Provision for loan and lease losses | 617 | 960 | 233 | 1,810 | ||||||||||||
Other (1) | 1 | (36 | ) | (3 | ) | (38 | ) | |||||||||
Allowance for loan and lease losses, September 30 | 16,534 | 6,521 | 3,178 | 26,233 | ||||||||||||
Reserve for unfunded lending commitments, July 1 | — | — | 574 | 574 | ||||||||||||
Provision for unfunded lending commitments | — | — | (36 | ) | (36 | ) | ||||||||||
Other (2) | — | — | (20 | ) | (20 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 518 | 518 | ||||||||||||
Allowance for credit losses, September 30 | $ | 16,534 | $ | 6,521 | $ | 3,696 | $ | 26,751 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Allowance for loan and lease losses, January 1 | $ | 14,933 | $ | 6,140 | $ | 3,106 | $ | 24,179 | ||||||||
Loans and leases charged off | (2,895 | ) | (4,338 | ) | (908 | ) | (8,141 | ) | ||||||||
Recoveries of loans and leases previously charged off | 548 | 941 | 337 | 1,826 | ||||||||||||
Net charge-offs | (2,347 | ) | (3,397 | ) | (571 | ) | (6,315 | ) | ||||||||
Write-offs of PCI loans | (1,595 | ) | — | — | (1,595 | ) | ||||||||||
Provision for loan and lease losses | (409 | ) | 2,694 | 957 | 3,242 | |||||||||||
Other (1) | (69 | ) | (7 | ) | (3 | ) | (79 | ) | ||||||||
Allowance for loan and lease losses, September 30 | 10,513 | 5,430 | 3,489 | 19,432 | ||||||||||||
Reserve for unfunded lending commitments, January 1 | — | — | 513 | 513 | ||||||||||||
Provision for unfunded lending commitments | — | — | (22 | ) | (22 | ) | ||||||||||
Other (2) | — | — | (11 | ) | (11 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 480 | 480 | ||||||||||||
Allowance for credit losses, September 30 | $ | 10,513 | $ | 5,430 | $ | 3,969 | $ | 19,912 | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Allowance for loan and lease losses, January 1 | $ | 21,079 | $ | 8,569 | $ | 4,135 | $ | 33,783 | ||||||||
Loans and leases charged off | (6,256 | ) | (5,983 | ) | (1,645 | ) | (13,884 | ) | ||||||||
Recoveries of loans and leases previously charged off | 400 | 1,131 | 549 | 2,080 | ||||||||||||
Net charge-offs | (5,856 | ) | (4,852 | ) | (1,096 | ) | (11,804 | ) | ||||||||
Write-offs of PCI loans | (1,705 | ) | — | — | (1,705 | ) | ||||||||||
Provision for loan and lease losses | 3,061 | 2,893 | 153 | 6,107 | ||||||||||||
Other (1) | (45 | ) | (89 | ) | (14 | ) | (148 | ) | ||||||||
Allowance for loan and lease losses, September 30 | 16,534 | 6,521 | 3,178 | 26,233 | ||||||||||||
Reserve for unfunded lending commitments, January 1 | — | — | 714 | 714 | ||||||||||||
Provision for unfunded lending commitments | — | — | (142 | ) | (142 | ) | ||||||||||
Other (2) | — | — | (54 | ) | (54 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 518 | 518 | ||||||||||||
Allowance for credit losses, September 30 | $ | 16,534 | $ | 6,521 | $ | 3,696 | $ | 26,751 | ||||||||
(1) | Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments. | |||||||||||||||
(2) | Primarily represents accretion of the Merrill Lynch purchase accounting adjustment. | |||||||||||||||
During the three and nine months ended September 30, 2013, for the PCI loan portfolios, the Corporation recorded a benefit of $248 million and a benefit of $707 million in the provision for credit losses with a corresponding decrease in the valuation allowance included as part of the allowance for loan and lease losses. This compared to a benefit of $166 million and an expense of $327 million in the provision for credit losses for the same periods in 2012. Write-offs in the PCI loan portfolios totaled $443 million and $1.6 billion with a corresponding decrease in the PCI valuation allowance during the three and nine months ended September 30, 2013 compared to write-offs in the PCI loan portfolios of $1.7 billion for both of the same periods in 2012. Write-offs during the nine months ended September 30, 2013 and 2012 included certain home equity PCI loans that were ineligible for the National Mortgage Settlement, but had similar characteristics as the eligible loans and the expectation of future cash proceeds was considered remote. The valuation allowance associated with the PCI loan portfolios was $3.2 billion and $5.5 billion at September 30, 2013 and December 31, 2012. | ||||||||||||||||
The table below presents the allowance and the carrying value of outstanding loans and leases by portfolio segment at September 30, 2013 and December 31, 2012. | ||||||||||||||||
Allowance and Carrying Value by Portfolio Segment | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Home Loans | Credit Card | Commercial | Total | ||||||||||||
and Other | ||||||||||||||||
Consumer | ||||||||||||||||
Impaired loans and troubled debt restructurings (1) | ||||||||||||||||
Allowance for loan and lease losses (2) | $ | 1,484 | $ | 645 | $ | 286 | $ | 2,415 | ||||||||
Carrying value (3) | 32,606 | 2,416 | 3,356 | 38,378 | ||||||||||||
Allowance as a percentage of carrying value | 4.55 | % | 26.7 | % | 8.52 | % | 6.29 | % | ||||||||
Loans collectively evaluated for impairment | ||||||||||||||||
Allowance for loan and lease losses | $ | 5,795 | $ | 4,785 | $ | 3,203 | $ | 13,783 | ||||||||
Carrying value (3, 4) | 290,375 | 184,895 | 383,380 | 858,650 | ||||||||||||
Allowance as a percentage of carrying value (4) | 2 | % | 2.59 | % | 0.84 | % | 1.61 | % | ||||||||
Purchased credit-impaired loans | ||||||||||||||||
Valuation allowance | $ | 3,234 | n/a | n/a | $ | 3,234 | ||||||||||
Carrying value gross of valuation allowance | 27,168 | n/a | n/a | 27,168 | ||||||||||||
Valuation allowance as a percentage of carrying value | 11.9 | % | n/a | n/a | 11.9 | % | ||||||||||
Total | ||||||||||||||||
Allowance for loan and lease losses | $ | 10,513 | $ | 5,430 | $ | 3,489 | $ | 19,432 | ||||||||
Carrying value (3, 4) | 350,149 | 187,311 | 386,736 | 924,196 | ||||||||||||
Allowance as a percentage of carrying value (4) | 3 | % | 2.9 | % | 0.9 | % | 2.1 | % | ||||||||
December 31, 2012 | ||||||||||||||||
Impaired loans and troubled debt restructurings (1) | ||||||||||||||||
Allowance for loan and lease losses (2) | $ | 1,700 | $ | 1,139 | $ | 475 | $ | 3,314 | ||||||||
Carrying value (3) | 30,250 | 3,946 | 4,881 | 39,077 | ||||||||||||
Allowance as a percentage of carrying value | 5.62 | % | 28.86 | % | 9.73 | % | 8.48 | % | ||||||||
Loans collectively evaluated for impairment | ||||||||||||||||
Allowance for loan and lease losses | $ | 7,697 | $ | 5,001 | $ | 2,631 | $ | 15,329 | ||||||||
Carrying value (3, 4) | 304,701 | 187,419 | 341,502 | 833,622 | ||||||||||||
Allowance as a percentage of carrying value (4) | 2.53 | % | 2.67 | % | 0.77 | % | 1.84 | % | ||||||||
Purchased credit-impaired loans | ||||||||||||||||
Valuation allowance | $ | 5,536 | n/a | n/a | $ | 5,536 | ||||||||||
Carrying value gross of valuation allowance | 26,118 | n/a | n/a | 26,118 | ||||||||||||
Valuation allowance as a percentage of carrying value | 21.2 | % | n/a | n/a | 21.2 | % | ||||||||||
Total | ||||||||||||||||
Allowance for loan and lease losses | $ | 14,933 | $ | 6,140 | $ | 3,106 | $ | 24,179 | ||||||||
Carrying value (3, 4) | 361,069 | 191,365 | 346,383 | 898,817 | ||||||||||||
Allowance as a percentage of carrying value (4) | 4.14 | % | 3.21 | % | 0.9 | % | 2.69 | % | ||||||||
(1) | Impaired loans include nonperforming commercial loans and all TDRs, including both commercial and consumer TDRs. Impaired loans exclude nonperforming consumer loans unless they are TDRs, and all consumer and commercial loans accounted for under the fair value option. | |||||||||||||||
(2) | Allowance for loan and lease losses includes $45 million and $97 million related to impaired U.S. small business commercial at September 30, 2013 and December 31, 2012. | |||||||||||||||
(3) | Amounts are presented gross of the allowance for loan and lease losses. | |||||||||||||||
(4) | Outstanding loan and lease balances and ratios do not include loans accounted for under the fair value option of $10.2 billion and $9.0 billion at September 30, 2013 and December 31, 2012. | |||||||||||||||
n/a =ot applicable |
Securitizations_and_Other_Vari
Securitizations and Other Variable Interest Entities | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Securitizations and Other Variable Interest Entities [Abstract] | |||||||||||||||||||||||||||||||||||
Securitizations And Other Variable Interest Entities Disclosure | |||||||||||||||||||||||||||||||||||
NOTE 7 – Securitizations and Other Variable Interest Entities | |||||||||||||||||||||||||||||||||||
The Corporation utilizes VIEs in the ordinary course of business to support its own and its customers' financing and investing needs. The Corporation routinely securitizes loans and debt securities using VIEs as a source of funding for the Corporation and as a means of transferring the economic risk of the loans or debt securities to third parties. The assets are transferred into a trust or other securitization vehicle such that the assets are legally isolated from the creditors of the Corporation and are not available to satisfy its obligations. These assets can only be used to settle obligations of the trust or other securitization vehicle. The Corporation also administers, structures or invests in other VIEs including CDOs, investment vehicles and other entities. For more information on the Corporation's utilization of VIEs, see Note 1 – Summary of Significant Accounting Principles and Note 7 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | |||||||||||||||||||||||||||||||||||
The tables within this Note present the assets and liabilities of consolidated and unconsolidated VIEs at September 30, 2013 and December 31, 2012, in situations where the Corporation has continuing involvement with transferred assets or if the Corporation otherwise has a variable interest in the VIE. The tables also present the Corporation's maximum loss exposure at September 30, 2013 and December 31, 2012 resulting from its involvement with consolidated VIEs and unconsolidated VIEs in which the Corporation holds a variable interest. The Corporation's maximum loss exposure is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments such as unfunded liquidity commitments and other contractual arrangements. The Corporation's maximum loss exposure does not include losses previously recognized through write-downs of assets. | |||||||||||||||||||||||||||||||||||
The Corporation invests in asset-backed securities (ABS) issued by third-party VIEs with which it has no other form of involvement. These securities are included in Note 2 – Trading Account Assets and Liabilities and Note 4 – Securities. In addition, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities. For additional information, see Note 12 – Long-term Debt to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The Corporation also uses VIEs in the form of synthetic securitization vehicles to mitigate a portion of the credit risk on its residential mortgage loan portfolio, as described in Note 5 – Outstanding Loans and Leases. The Corporation uses VIEs, such as cash funds managed within Global Wealth & Investment Management (GWIM), to provide investment opportunities for clients. These VIEs, which are not consolidated by the Corporation, are not included in the tables within this Note. | |||||||||||||||||||||||||||||||||||
Except as described below and in Note 7 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K, the Corporation did not provide financial support to consolidated or unconsolidated VIEs during the three and nine months ended September 30, 2013 or the year ended December 31, 2012 that it was not previously contractually required to provide, nor does it intend to do so. | |||||||||||||||||||||||||||||||||||
Mortgage-related Securitizations | |||||||||||||||||||||||||||||||||||
First-lien Mortgages | |||||||||||||||||||||||||||||||||||
As part of its mortgage banking activities, the Corporation securitizes a portion of the first-lien residential mortgage loans it originates or purchases from third parties, generally in the form of MBS guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or GNMA in the case of FHA-insured and U.S. Department of Veterans Affairs (VA)-guaranteed mortgage loans. Securitization usually occurs in conjunction with or shortly after loan closing or purchase. In addition, the Corporation may, from time to time, securitize commercial mortgages it originates or purchases from other entities. The Corporation typically services the loans it securitizes. Further, the Corporation may retain beneficial interests in the securitization trusts including senior and subordinate securities and equity tranches issued by the trusts. Except as described below and in Note 8 – Representations and Warranties Obligations and Corporate Guarantees, the Corporation does not provide guarantees or recourse to the securitization trusts other than standard representations and warranties. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to first-lien mortgage securitizations for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||||
First-lien Mortgage Securitizations | |||||||||||||||||||||||||||||||||||
Three Months Ended September 30 | |||||||||||||||||||||||||||||||||||
Residential | Commercial Mortgage | ||||||||||||||||||||||||||||||||||
Mortgage - Agency | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Cash proceeds from new securitizations (1) | $ | 14,068 | $ | 12,461 | $ | — | $ | 335 | |||||||||||||||||||||||||||
Gain (loss) on securitizations (2) | 36 | (89 | ) | — | — | ||||||||||||||||||||||||||||||
Nine Months Ended September 30 | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cash proceeds from new securitizations (1) | $ | 41,444 | $ | 27,688 | $ | 208 | $ | 660 | |||||||||||||||||||||||||||
Gain (loss) on securitizations (2) | 92 | (151 | ) | — | — | ||||||||||||||||||||||||||||||
(1) | The Corporation sells residential mortgage loans to GSEs in the normal course of business and receives MBS in exchange which may then be sold into the market to third-party investors for cash proceeds. | ||||||||||||||||||||||||||||||||||
(2) | Substantially all of the first-lien residential mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. As such, gains are recognized on these LHFS prior to securitization. The Corporation recognized $379 million and $1.7 billion of gains, net of hedges, on loans securitized during the three and nine months ended September 30, 2013 compared to $563 million and $1.3 billion for the same periods in 2012. | ||||||||||||||||||||||||||||||||||
In addition to cash proceeds as reported in the table above, the Corporation received securities with an initial fair value of $490 million and $3.0 billion in connection with first-lien mortgage securitizations for the three and nine months ended September 30, 2013 compared to $315 million and $2.5 billion for the same periods in 2012. All of these securities were initially classified as Level 2 assets within the fair value hierarchy. During the three and nine months ended September 30, 2013 and 2012, there were no changes to the initial classification. | |||||||||||||||||||||||||||||||||||
The Corporation recognizes consumer MSRs from the sale or securitization of first-lien mortgage loans. Servicing fee and ancillary fee income on consumer mortgage loans serviced, including securitizations where the Corporation has continuing involvement, were $674 million and $2.3 billion during the three and nine months ended September 30, 2013 compared to $1.1 billion and $3.6 billion for the same periods in 2012. Servicing advances on consumer mortgage loans, including securitizations where the Corporation has continuing involvement, were $15.5 billion and $23.2 billion at September 30, 2013 and December 31, 2012. The Corporation may have the option to repurchase delinquent loans out of securitization trusts, which reduces the amount of servicing advances it is required to make. During the three and nine months ended September 30, 2013, $3.1 billion and $9.4 billion of loans were repurchased from first-lien securitization trusts as a result of loan delinquencies or in order to perform modifications compared to $2.5 billion and $5.2 billion for the same periods in 2012. The majority of these loans repurchased were FHA-insured mortgages collateralizing GNMA securities. For more information on MSRs, see Note 19 – Mortgage Servicing Rights. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
First-lien Mortgage VIEs | |||||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||||
Non-agency | |||||||||||||||||||||||||||||||||||
Agency | Prime | Subprime | Alt-A | Commercial Mortgage | |||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Unconsolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 21,362 | $ | 28,591 | $ | 1,623 | $ | 2,038 | $ | 407 | $ | 410 | $ | 448 | $ | 367 | $ | 607 | $ | 702 | |||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Senior securities held (2): | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 976 | $ | 619 | $ | — | $ | 16 | $ | 8 | $ | 14 | $ | 1 | $ | — | $ | 18 | $ | 12 | |||||||||||||||
Debt securities carried at fair value | 19,825 | 26,421 | 1,088 | 1,388 | 219 | 210 | 119 | 128 | 359 | 581 | |||||||||||||||||||||||||
Subordinate securities held (2): | |||||||||||||||||||||||||||||||||||
Trading account assets | — | — | — | — | 7 | 3 | — | — | 18 | 13 | |||||||||||||||||||||||||
Debt securities carried at fair value | — | — | 17 | 21 | 7 | 9 | — | — | — | — | |||||||||||||||||||||||||
Residual interests held | — | — | 13 | 18 | — | 9 | — | — | 177 | 40 | |||||||||||||||||||||||||
All other assets (3) | 561 | 1,551 | 75 | 64 | 1 | 1 | 328 | 239 | — | — | |||||||||||||||||||||||||
Total retained positions | $ | 21,362 | $ | 28,591 | $ | 1,193 | $ | 1,507 | $ | 242 | $ | 246 | $ | 448 | $ | 367 | $ | 572 | $ | 646 | |||||||||||||||
Principal balance outstanding (4) | $ | 479,193 | $ | 797,315 | $ | 29,592 | $ | 45,819 | $ | 34,084 | $ | 53,822 | $ | 54,045 | $ | 71,990 | $ | 21,883 | $ | 56,733 | |||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 42,509 | $ | 46,959 | $ | 102 | $ | 104 | $ | 389 | $ | 390 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 927 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans and leases | 41,114 | 45,991 | 247 | 283 | 811 | 722 | — | — | — | — | |||||||||||||||||||||||||
Allowance for loan and lease losses | (3 | ) | (4 | ) | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Loans held-for-sale | — | — | — | — | 760 | 914 | — | — | — | — | |||||||||||||||||||||||||
All other assets | 478 | 972 | — | 10 | 4 | 91 | — | — | — | — | |||||||||||||||||||||||||
Total assets | $ | 42,516 | $ | 46,959 | $ | 247 | $ | 293 | $ | 1,575 | $ | 1,727 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | — | $ | — | $ | — | $ | 762 | $ | 741 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Long-term debt | 7 | — | 168 | 212 | 804 | 941 | — | — | — | — | |||||||||||||||||||||||||
Total liabilities | $ | 7 | $ | — | $ | 168 | $ | 212 | $ | 1,566 | $ | 1,682 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
(1) | Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and MSRs. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees and Note 19 – Mortgage Servicing Rights. | ||||||||||||||||||||||||||||||||||
(2) | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | ||||||||||||||||||||||||||||||||||
(3) | Not included in the table above are all other assets of $2.3 billion and $12.1 billion, representing the unpaid principal balance of mortgage loans eligible for repurchase from unconsolidated residential mortgage securitization vehicles, principally guaranteed by GNMA, and all other liabilities of $2.3 billion and $12.1 billion, representing the principal amount that would be payable to the securitization vehicles if the Corporation were to exercise the repurchase option, at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
(4) | Principal balance outstanding includes loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loans. | ||||||||||||||||||||||||||||||||||
Home Equity Loans | |||||||||||||||||||||||||||||||||||
The Corporation retains interests in home equity securitization trusts to which it transferred home equity loans. These retained interests include senior and subordinate securities and residual interests. In addition, the Corporation may be obligated to provide subordinate funding to the trusts during a rapid amortization event. The Corporation also services the loans in the trusts. Except as described below and in Note 8 – Representations and Warranties Obligations and Corporate Guarantees, the Corporation does not provide guarantees or recourse to the securitization trusts other than standard representations and warranties. There were no securitizations of home equity loans during the three and nine months ended September 30, 2013 and 2012, and all of the home equity trusts have entered the rapid amortization phase. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to home equity loan securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
Home Equity Loan VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
VIEs | VIEs | VIEs | VIEs | ||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 1,317 | $ | 6,440 | $ | 7,757 | $ | 2,004 | $ | 6,707 | $ | 8,711 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | — | $ | 23 | $ | 23 | $ | — | $ | 8 | $ | 8 | |||||||||||||||||||||||
Debt securities carried at fair value | — | 19 | 19 | — | 14 | 14 | |||||||||||||||||||||||||||||
Loans and leases | 1,406 | — | 1,406 | 2,197 | — | 2,197 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | (89 | ) | — | (89 | ) | (193 | ) | — | (193 | ) | |||||||||||||||||||||||||
Total | $ | 1,317 | $ | 42 | $ | 1,359 | $ | 2,004 | $ | 22 | $ | 2,026 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 1,503 | $ | — | $ | 1,503 | $ | 2,331 | $ | — | $ | 2,331 | |||||||||||||||||||||||
All other liabilities | 88 | — | 88 | 92 | — | 92 | |||||||||||||||||||||||||||||
Total | $ | 1,591 | $ | — | $ | 1,591 | $ | 2,423 | $ | — | $ | 2,423 | |||||||||||||||||||||||
Principal balance outstanding | $ | 1,406 | $ | 6,829 | $ | 8,235 | $ | 2,197 | $ | 12,644 | $ | 14,841 | |||||||||||||||||||||||
(1) | For unconsolidated VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves, and excludes the liability for representations and warranties obligations and corporate guarantees. | ||||||||||||||||||||||||||||||||||
Included in the table above are consolidated and unconsolidated home equity loan securitizations, all of which have entered a rapid amortization period and for which the Corporation is obligated to provide subordinated funding. During this period, cash payments from borrowers are accumulated to repay outstanding debt securities and the Corporation continues to make advances to borrowers when they draw on their lines of credit. For additional information, see Note 7 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. At September 30, 2013 and December 31, 2012, home equity loan securitizations in rapid amortization for which the Corporation has a subordinated funding obligation, including both consolidated and unconsolidated trusts, had $7.9 billion and $9.0 billion of trust certificates outstanding. This amount is significantly greater than the amount the Corporation expects to fund. The charges that will ultimately be recorded as a result of the rapid amortization events depend on the undrawn available credit on the home equity lines, which totaled $83 million and $196 million at September 30, 2013 and December 31, 2012, as well as performance of the loans, the amount of subsequent draws and the timing of related cash flows. At September 30, 2013 and December 31, 2012, the reserve for losses on expected future draw obligations on the home equity loan securitizations in rapid amortization for which the Corporation has a subordinated funding obligation was $15 million and $51 million. | |||||||||||||||||||||||||||||||||||
The Corporation has consumer MSRs from the sale or securitization of home equity loans. The Corporation recorded $11 million and $37 million of servicing fee income related to home equity loan securitizations during the three and nine months ended September 30, 2013 compared to $14 million and $45 million for the same periods in 2012. The Corporation repurchased $81 million and $197 million of loans from home equity securitization trusts in order to perform modifications during the three and nine months ended September 30, 2013 compared to $22 million and $60 million for the same periods in 2012. | |||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Corporation transferred servicing for consolidated home equity securitization trusts with total assets of $475 million and total liabilities of $616 million to a third party. As the Corporation no longer services the underlying loans, these trusts were deconsolidated, resulting in a gain of $141 million that was recorded in other income (loss) in the Consolidated Statement of Income. | |||||||||||||||||||||||||||||||||||
Credit Card Securitizations | |||||||||||||||||||||||||||||||||||
The Corporation securitizes originated and purchased credit card loans. The Corporation's continuing involvement with the securitization trusts includes servicing the receivables, retaining an undivided interest (seller's interest) in the receivables, and holding certain retained interests including senior and subordinate securities, discount receivables, subordinate interests in accrued interest and fees on the securitized receivables, and cash reserve accounts. The seller's interest in the trusts, which is pari passu to the investors' interest, and the discount receivables are classified in loans and leases. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to consolidated credit card securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
Credit Card VIEs | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 44,412 | $ | 42,487 | |||||||||||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Derivative assets | $ | 199 | $ | 323 | |||||||||||||||||||||||||||||||
Loans and leases (1) | 60,740 | 66,427 | |||||||||||||||||||||||||||||||||
Allowance for loan and lease losses | (2,865 | ) | (3,445 | ) | |||||||||||||||||||||||||||||||
All other assets (2) | 1,971 | 1,567 | |||||||||||||||||||||||||||||||||
Total | $ | 60,045 | $ | 64,872 | |||||||||||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 15,569 | $ | 22,291 | |||||||||||||||||||||||||||||||
All other liabilities | 64 | 94 | |||||||||||||||||||||||||||||||||
Total | $ | 15,633 | $ | 22,385 | |||||||||||||||||||||||||||||||
(1) | At September 30, 2013 and December 31, 2012, loans and leases included $36.0 billion and $33.5 billion of seller's interest and $24 million and $124 million of discount receivables. | ||||||||||||||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, all other assets included restricted cash and short-term investment accounts and unbilled accrued interest and fees. | ||||||||||||||||||||||||||||||||||
The Corporation holds subordinate securities with a notional principal amount of $8.7 billion and $10.1 billion at September 30, 2013 and December 31, 2012, and a stated interest rate of zero percent issued by certain credit card securitization trusts. In addition, during 2010 and 2009, the Corporation elected to designate a specified percentage of new receivables transferred to the trusts as "discount receivables" such that principal collections thereon are added to finance charges which increases the yield in the trust. Through the designation of newly transferred receivables as discount receivables, the Corporation subordinated a portion of its seller's interest to the investors' interest. These actions were taken to address the decline in the excess spread of the U.S. and U.K. credit card securitization trusts at that time. | |||||||||||||||||||||||||||||||||||
During 2012, the Corporation transferred $553 million of credit card receivables to a third-party sponsored securitization vehicle. The Corporation no longer services the credit card receivables and does not consolidate the vehicle. At September 30, 2013 and December 31, 2012, the Corporation held a senior interest of $282 million and $309 million in these receivables, classified in loans and leases, that is not included in the table above. | |||||||||||||||||||||||||||||||||||
Other Asset-backed Securitizations | |||||||||||||||||||||||||||||||||||
Other asset-backed securitizations include resecuritization trusts, municipal bond trusts, and automobile and other securitization trusts. The table below summarizes select information related to other asset-backed securitizations in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
Other Asset-backed VIEs | |||||||||||||||||||||||||||||||||||
Resecuritization Trusts | Municipal Bond Trusts | Automobile and Other | |||||||||||||||||||||||||||||||||
Securitization Trusts | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Unconsolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 13,075 | $ | 20,715 | $ | 2,322 | $ | 3,341 | $ | 99 | $ | 122 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Senior securities held (1, 2): | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 779 | $ | 1,281 | $ | 134 | $ | 12 | $ | 17 | $ | 37 | |||||||||||||||||||||||
Debt securities carried at fair value | 12,174 | 19,343 | — | 540 | 72 | 74 | |||||||||||||||||||||||||||||
Subordinate securities held (1, 2): | |||||||||||||||||||||||||||||||||||
Debt securities carried at fair value | 67 | 75 | — | — | — | — | |||||||||||||||||||||||||||||
Residual interests held (3) | 55 | 16 | — | — | — | — | |||||||||||||||||||||||||||||
All other assets | — | — | — | — | 10 | 11 | |||||||||||||||||||||||||||||
Total retained positions | $ | 13,075 | $ | 20,715 | $ | 134 | $ | 552 | $ | 99 | $ | 122 | |||||||||||||||||||||||
Total assets of VIEs (4) | $ | 39,742 | $ | 42,818 | $ | 3,859 | $ | 4,980 | $ | 1,949 | $ | 1,890 | |||||||||||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 250 | $ | 126 | $ | 2,987 | $ | 2,505 | $ | 196 | $ | 1,255 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 1,169 | $ | 220 | $ | 2,987 | $ | 2,505 | $ | — | $ | — | |||||||||||||||||||||||
Loans and leases | — | — | — | — | 867 | 2,523 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | — | — | — | — | (1 | ) | (2 | ) | |||||||||||||||||||||||||||
All other assets | — | — | — | — | 80 | 250 | |||||||||||||||||||||||||||||
Total assets | $ | 1,169 | $ | 220 | $ | 2,987 | $ | 2,505 | $ | 946 | $ | 2,771 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | — | $ | 1,336 | $ | 2,859 | $ | — | $ | — | |||||||||||||||||||||||
Long-term debt | 919 | 94 | — | — | 749 | 1,513 | |||||||||||||||||||||||||||||
All other liabilities | — | — | — | — | 82 | 82 | |||||||||||||||||||||||||||||
Total liabilities | $ | 919 | $ | 94 | $ | 1,336 | $ | 2,859 | $ | 831 | $ | 1,595 | |||||||||||||||||||||||
(1) | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | ||||||||||||||||||||||||||||||||||
(2) | The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). | ||||||||||||||||||||||||||||||||||
(3) | The retained residual interests are carried at fair value which was derived using model valuations (Level 2 of the fair value hierarchy). | ||||||||||||||||||||||||||||||||||
(4) | Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan. | ||||||||||||||||||||||||||||||||||
Resecuritization Trusts | |||||||||||||||||||||||||||||||||||
The Corporation transfers existing securities, typically MBS, into resecuritization vehicles at the request of customers seeking securities with specific characteristics. The Corporation may also resecuritize securities within its investment portfolio for purposes of improving liquidity and capital, and managing credit or interest rate risk. Generally, there are no significant ongoing activities performed in a resecuritization trust and no single investor has the unilateral ability to liquidate the trust. | |||||||||||||||||||||||||||||||||||
The Corporation resecuritized $6.6 billion and $18.2 billion of securities during the three and nine months ended September 30, 2013 compared to $12.2 billion and $36.5 billion for the same periods in 2012. All of the securities transferred into resecuritization vehicles during the three and nine months ended September 30, 2013 and 2012 were classified as trading account assets. As such, changes in fair value were recorded in trading account profits prior to the resecuritization and no gain or loss on sale was recorded. | |||||||||||||||||||||||||||||||||||
Municipal Bond Trusts | |||||||||||||||||||||||||||||||||||
The Corporation administers municipal bond trusts that hold highly-rated, long-term, fixed-rate municipal bonds. The trusts obtain financing by issuing floating-rate trust certificates that reprice on a weekly or other basis to third-party investors. The Corporation may transfer assets into the trusts and may also serve as remarketing agent and/or liquidity provider for the trusts. The floating-rate investors have the right to tender the certificates at specified dates. Should the Corporation be unable to remarket the tendered certificates, it may be obligated to purchase them at par under standby liquidity facilities. The Corporation also provides credit enhancement to investors in certain municipal bond trusts whereby the Corporation guarantees the payment of interest and principal on floating-rate certificates issued by these trusts in the event of default by the issuer of the underlying municipal bond. | |||||||||||||||||||||||||||||||||||
The Corporation's liquidity commitments to unconsolidated municipal bond trusts, including those for which the Corporation was transferor, totaled $2.2 billion and $2.8 billion at September 30, 2013 and December 31, 2012. The weighted-average remaining life of bonds held in the trusts at September 30, 2013 was 8.5 years. There were no material write-downs or downgrades of assets or issuers during the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||||
Automobile and Other Securitization Trusts | |||||||||||||||||||||||||||||||||||
The Corporation transfers automobile and other loans into securitization trusts, typically to improve liquidity or manage credit risk. At September 30, 2013 and December 31, 2012, the Corporation serviced assets or otherwise had continuing involvement with automobile and other securitization trusts with outstanding balances of $2.9 billion and $4.7 billion, including trusts collateralized by automobile loans of $1.2 billion and $3.5 billion, student loans of $773 million and $897 million, and other loans of $920 million and $290 million. | |||||||||||||||||||||||||||||||||||
Collateralized Debt Obligation Vehicles | |||||||||||||||||||||||||||||||||||
CDO vehicles hold diversified pools of fixed-income securities, typically corporate debt or ABS, which they fund by issuing multiple tranches of debt and equity securities. Synthetic CDOs enter into a portfolio of CDS to synthetically create exposure to fixed-income securities. CLOs, which are a subset of CDOs, hold pools of loans, typically corporate loans or commercial mortgages. CDOs are typically managed by third-party portfolio managers. The Corporation typically transfers assets to these CDOs, holds securities issued by the CDOs and may be a derivative counterparty to the CDOs, including a CDS counterparty for synthetic CDOs. The Corporation has also entered into total return swaps with certain CDOs whereby the Corporation absorbs the economic returns generated by specified assets held by the CDO. The Corporation receives fees for structuring CDOs and providing liquidity support for super senior tranches of securities issued by certain CDOs. No third parties provide a significant amount of similar commitments to these CDOs. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to CDO vehicles in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
CDO Vehicle VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 1,274 | $ | 1,019 | $ | 2,293 | $ | 2,201 | $ | 1,376 | $ | 3,577 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 1,280 | $ | 290 | $ | 1,570 | $ | 2,191 | $ | 258 | $ | 2,449 | |||||||||||||||||||||||
Derivative assets | — | 146 | 146 | 10 | 301 | 311 | |||||||||||||||||||||||||||||
All other assets | — | 57 | 57 | — | 76 | 76 | |||||||||||||||||||||||||||||
Total | $ | 1,280 | $ | 493 | $ | 1,773 | $ | 2,201 | $ | 635 | $ | 2,836 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 1,482 | $ | — | $ | 1,482 | $ | 2,806 | $ | 2 | $ | 2,808 | |||||||||||||||||||||||
All other liabilities | — | 7 | 7 | — | 9 | 9 | |||||||||||||||||||||||||||||
Total | $ | 1,482 | $ | 7 | $ | 1,489 | $ | 2,806 | $ | 11 | $ | 2,817 | |||||||||||||||||||||||
Total assets of VIEs | $ | 1,280 | $ | 19,826 | $ | 21,106 | $ | 2,201 | $ | 26,985 | $ | 29,186 | |||||||||||||||||||||||
The Corporation's maximum loss exposure of $2.3 billion at September 30, 2013 included $1.3 billion of exposure to CDO financing facilities, $135 million of super senior CDO exposure and $884 million of other non-super senior exposure. This exposure is calculated on a gross basis and does not reflect any benefit from insurance purchased from third parties. The CDO financing facilities, which are consolidated, obtain funding from third parties for CDO positions which are principally classified in trading account assets. The CDO financing facilities' long-term debt at September 30, 2013 totaled $1.5 billion, all of which has recourse to the general credit of the Corporation. For unconsolidated CDO vehicles in the table above, the Corporation's maximum loss exposure is significantly less than the total assets of the VIEs because the Corporation typically has exposure to only a portion of the total assets. | |||||||||||||||||||||||||||||||||||
At September 30, 2013, the Corporation had $1.5 billion of aggregate liquidity exposure to CDOs. This amount includes $87 million of commitments to CDOs to provide funding for super senior exposures and $1.4 billion notional amount of derivative contracts with unconsolidated VIEs, principally CDO vehicles, which hold non-super senior CDO debt securities or other debt securities on the Corporation's behalf. For additional information, see Note 11 – Commitments and Contingencies. The Corporation's liquidity exposure to CDOs at September 30, 2013 is included in the table above to the extent that the Corporation sponsored the CDO vehicle or the liquidity exposure is more than insignificant compared to total assets of the CDO vehicle. Liquidity exposure included in the table is reported net of previously recorded losses. | |||||||||||||||||||||||||||||||||||
Customer Vehicles | |||||||||||||||||||||||||||||||||||
Customer vehicles include credit-linked, equity-linked and commodity-linked note vehicles, repackaging vehicles, and asset acquisition vehicles, which are typically created on behalf of customers who wish to obtain market or credit exposure to a specific company, commodity price or financial instrument. The Corporation may transfer assets to and invest in securities issued by these vehicles. The Corporation typically enters into credit, equity, interest rate, commodity or foreign currency derivatives to synthetically create or alter the investment profile of the issued securities. The Corporation also had liquidity commitments, including written put options and collateral value guarantees, with certain unconsolidated vehicles of $667 million and $742 million at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to customer vehicles in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
Customer Vehicle VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 3,575 | $ | 1,258 | $ | 4,833 | $ | 2,994 | $ | 1,401 | $ | 4,395 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 2,283 | $ | 87 | $ | 2,370 | $ | 2,882 | $ | 98 | $ | 2,980 | |||||||||||||||||||||||
Derivative assets | — | 335 | 335 | — | 516 | 516 | |||||||||||||||||||||||||||||
Loans and leases | 846 | — | 846 | 523 | — | 523 | |||||||||||||||||||||||||||||
Loans held-for-sale | 1,038 | — | 1,038 | 950 | — | 950 | |||||||||||||||||||||||||||||
All other assets | 793 | — | 793 | 763 | — | 763 | |||||||||||||||||||||||||||||
Total | $ | 4,960 | $ | 422 | $ | 5,382 | $ | 5,118 | $ | 614 | $ | 5,732 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | 82 | $ | — | $ | 82 | $ | 131 | $ | — | $ | 131 | |||||||||||||||||||||||
Long-term debt | 2,413 | — | 2,413 | 3,179 | — | 3,179 | |||||||||||||||||||||||||||||
All other liabilities | 75 | 427 | 502 | 29 | 389 | 418 | |||||||||||||||||||||||||||||
Total | $ | 2,570 | $ | 427 | $ | 2,997 | $ | 3,339 | $ | 389 | $ | 3,728 | |||||||||||||||||||||||
Total assets of VIEs | $ | 4,960 | $ | 4,229 | $ | 9,189 | $ | 5,118 | $ | 4,055 | $ | 9,173 | |||||||||||||||||||||||
The Corporation's maximum loss exposure from customer vehicles includes the notional amount of credit or equity derivatives to which the Corporation is a counterparty, net of losses previously recorded, and the Corporation's investment, if any, in securities issued by the vehicles. The maximum loss exposure has not been reduced to reflect the benefit of offsetting swaps with the customers or collateral arrangements. | |||||||||||||||||||||||||||||||||||
Other Variable Interest Entities | |||||||||||||||||||||||||||||||||||
Other consolidated VIEs primarily include leveraged lease trusts and investment vehicles. Other unconsolidated VIEs primarily include real estate vehicles and investment vehicles. | |||||||||||||||||||||||||||||||||||
The table below summarizes select information related to other VIEs in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||
Other VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 4,975 | $ | 8,805 | $ | 13,780 | $ | 5,608 | $ | 6,492 | $ | 12,100 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 97 | $ | — | $ | 97 | $ | 108 | $ | — | $ | 108 | |||||||||||||||||||||||
Derivative assets | — | 380 | 380 | — | 460 | 460 | |||||||||||||||||||||||||||||
Debt securities carried at fair value | — | 1,687 | 1,687 | — | 39 | 39 | |||||||||||||||||||||||||||||
Loans and leases | 3,965 | 250 | 4,215 | 4,561 | 67 | 4,628 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | (4 | ) | — | (4 | ) | (14 | ) | — | (14 | ) | |||||||||||||||||||||||||
Loans held-for-sale | 77 | 94 | 171 | 105 | 157 | 262 | |||||||||||||||||||||||||||||
All other assets | 988 | 6,079 | 7,067 | 1,001 | 5,768 | 6,769 | |||||||||||||||||||||||||||||
Total | $ | 5,123 | $ | 8,490 | $ | 13,613 | $ | 5,761 | $ | 6,491 | $ | 12,252 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 867 | $ | — | $ | 867 | $ | 889 | $ | — | $ | 889 | |||||||||||||||||||||||
All other liabilities | 73 | 2,137 | 2,210 | 63 | 1,692 | 1,755 | |||||||||||||||||||||||||||||
Total | $ | 940 | $ | 2,137 | $ | 3,077 | $ | 952 | $ | 1,692 | $ | 2,644 | |||||||||||||||||||||||
Total assets of VIEs | $ | 5,123 | $ | 11,004 | $ | 16,127 | $ | 5,761 | $ | 8,660 | $ | 14,421 | |||||||||||||||||||||||
Investment Vehicles | |||||||||||||||||||||||||||||||||||
The Corporation sponsors, invests in or provides financing, which may be in connection with the sale of assets, to a variety of investment vehicles that hold loans, real estate, debt securities or other financial instruments and are designed to provide the desired investment profile to investors or the Corporation. At September 30, 2013 and December 31, 2012, the Corporation's consolidated investment vehicles had total assets of $1.2 billion and $1.3 billion. The Corporation also held investments in unconsolidated vehicles with total assets of $4.8 billion and $3.0 billion at September 30, 2013 and December 31, 2012. The Corporation's maximum loss exposure associated with both consolidated and unconsolidated investment vehicles totaled $3.8 billion and $2.1 billion at September 30, 2013 and December 31, 2012 comprised primarily of on-balance sheet assets less non-recourse liabilities. | |||||||||||||||||||||||||||||||||||
During the three months ended September 30, 2013, the Corporation transferred servicing advance receivables to an independent third party in connection with the sale of MSRs. A portion of the receivables was transferred into a securitization trust. The Corporation retained a senior interest in such receivables with a maximum loss exposure of $2.0 billion and an outstanding balance of $1.7 billion at September 30, 2013, which was classified in debt securities carried at fair value. | |||||||||||||||||||||||||||||||||||
Leveraged Lease Trusts | |||||||||||||||||||||||||||||||||||
The Corporation's net investment in consolidated leveraged lease trusts totaled $3.9 billion and $4.4 billion at September 30, 2013 and December 31, 2012. The trusts hold long-lived equipment such as rail cars, power generation and distribution equipment, and commercial aircraft. The Corporation structures the trusts and holds a significant residual interest. The net investment represents the Corporation's maximum loss exposure to the trusts in the unlikely event that the leveraged lease investments become worthless. Debt issued by the leveraged lease trusts is non-recourse to the Corporation. The Corporation has no liquidity exposure to these leveraged lease trusts. | |||||||||||||||||||||||||||||||||||
Real Estate Vehicles | |||||||||||||||||||||||||||||||||||
The Corporation held investments in unconsolidated real estate vehicles of $5.8 billion and $5.4 billion at September 30, 2013 and December 31, 2012, which primarily consisted of investments in unconsolidated limited partnerships that finance the construction and rehabilitation of affordable rental housing and commercial real estate. An unrelated third party is typically the general partner and has control over the significant activities of the partnership. The Corporation earns a return primarily through the receipt of tax credits allocated to the real estate projects. The Corporation's risk of loss is mitigated by policies requiring that the project qualify for the expected tax credits prior to making its investment. The Corporation may from time to time be asked to invest additional amounts to support a troubled project. Such additional investments have not been and are not expected to be significant. | |||||||||||||||||||||||||||||||||||
Other Asset-backed Financing Arrangements | |||||||||||||||||||||||||||||||||||
The Corporation transferred pools of securities to certain independent third parties and provided financing for up to 75 percent of the purchase price under asset-backed financing arrangements. At September 30, 2013 and December 31, 2012, the Corporation's maximum loss exposure under these financing arrangements was $1.2 billion and $2.5 billion, substantially all of which was classified in loans and leases. All principal and interest payments have been received when due in accordance with their contractual terms. These arrangements are not included in the Other VIEs table because the purchasers are not VIEs. |
Representations_and_Warranties
Representations and Warranties Obligations and Corporate Guarantees | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Guarantees [Abstract] | ||||||||||||||||||||||||
Representations and Warranties Obligations and Corporate Guarantees | ||||||||||||||||||||||||
NOTE 8 – Representations and Warranties Obligations and Corporate Guarantees | ||||||||||||||||||||||||
Background | ||||||||||||||||||||||||
The Corporation securitizes first-lien residential mortgage loans generally in the form of MBS guaranteed by the GSEs or by GNMA in the case of FHA-insured, VA-guaranteed and Rural Housing Service-guaranteed mortgage loans. In addition, in prior years, legacy companies and certain subsidiaries sold pools of first-lien residential mortgage loans and home equity loans as private-label securitizations (in certain of these securitizations, monolines or financial guarantee providers insured all or some of the securities) or in the form of whole loans. In connection with these transactions, the Corporation or certain of its subsidiaries or legacy companies make or have made various representations and warranties. These representations and warranties, as set forth in the agreements, related to, among other things, the ownership of the loan, the validity of the lien securing the loan, the absence of delinquent taxes or liens against the property securing the loan, the process used to select the loan for inclusion in a transaction, the loan's compliance with any applicable loan criteria, including underwriting standards, and the loan's compliance with applicable federal, state and local laws. Breaches of these representations and warranties may result in the requirement to repurchase mortgage loans or to otherwise make whole or provide other remedies to the GSEs, HUD with respect to FHA-insured loans, VA, whole-loan investors, securitization trusts, monoline insurers or other financial guarantors (collectively, repurchases). In all such cases, the Corporation would be exposed to any credit loss on the repurchased mortgage loans after accounting for any mortgage insurance (MI) or mortgage guarantee payments that it may receive. | ||||||||||||||||||||||||
Subject to the requirements and limitations of the applicable sales and securitization agreements, these representations and warranties can be enforced by the GSEs, HUD, VA, the whole-loan investor, the securitization trustee or others as governed by the applicable agreement or, in certain first-lien and home equity securitizations where monoline insurers or other financial guarantee providers have insured all or some of the securities issued, by the monoline insurer or other financial guarantor, where the contract so provides. In the case of private-label securitizations, the applicable agreements may permit investors, which may include the GSEs, with contractually sufficient holdings to direct or influence action by the securitization trustee. In the case of loans sold to parties other than the GSEs or GNMA, the contractual liability to repurchase typically arises only if there is a breach of the representations and warranties that materially and adversely affects the interest of the investor, or investors, or of the monoline insurer or other financial guarantor (as applicable) in the loan. Contracts with the GSEs do not contain equivalent language, while GNMA generally limits repurchases to loans that are not insured or guaranteed as required. The Corporation believes that the longer a loan performs prior to default, the less likely it is that an alleged underwriting breach of representations and warranties would have a material impact on the loan's performance. | ||||||||||||||||||||||||
The Corporation's credit loss would be reduced by any recourse it may have to organizations (e.g., correspondents) that, in turn, had sold such loans to the Corporation based upon its agreements with these organizations. When a loan is originated by a correspondent or other third party, the Corporation typically has the right to seek a recovery of related repurchase losses from that originator. Many of the correspondent originators of loans in 2004 through 2008 are no longer in business, or are in a weakened financial condition, and the Corporation's ability to recover on valid claims is therefore impacted, or eliminated accordingly. In the event a loan is originated and underwritten by a correspondent who obtains FHA insurance, even if they are no longer in business, any breach of FHA guidelines is the direct obligation of the correspondent, not the Corporation. Generally the volume of unresolved repurchase claims from the FHA and VA for loans in GNMA-guaranteed securities is not significant because the requests are limited in number and are typically resolved quickly. At September 30, 2013, approximately 17 percent of the outstanding repurchase claims relate to loans purchased from correspondents or other parties compared to approximately 26 percent at December 31, 2012. During the three and nine months ended September 30, 2013, the Corporation continued to recover repurchase losses from correspondents and other parties; however, the actual recovery rate may vary from period to period based upon the underlying mix of correspondents and other parties. | ||||||||||||||||||||||||
The estimate of the liability for representations and warranties exposures and the corresponding estimated range of possible loss is based upon currently available information, significant judgment, and a number of factors and assumptions, including those discussed in Liability for Representations and Warranties and Corporate Guarantees in this Note, that are subject to change. Changes to any one of these factors could significantly impact the estimate of the liability and could have a material adverse impact on the Corporation's results of operations for any particular period. Given that these factors vary by counterparty, the Corporation analyzes representations and warranties obligations based on the specific counterparty, or type of counterparty, with whom the sale was made. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
Settlement Actions | ||||||||||||||||||||||||
The Corporation has vigorously contested any request for repurchase when it concludes that a valid basis for repurchase does not exist and will continue to do so in the future. However, in an effort to resolve these legacy mortgage-related issues, the Corporation has reached bulk settlements, or agreements for bulk settlements, including settlement amounts which have been material, with counterparties in lieu of a loan-by-loan review process. The Corporation may reach other settlements in the future if opportunities arise on terms it believes to be advantageous. However, there can be no assurance that the Corporation will reach future settlements or, if it does, that the terms of past settlements can be relied upon to predict the terms of future settlements. For a summary of the larger bulk settlement actions beginning in the fourth quarter of 2010, including the settlement with Bank of New York Mellon (the BNY Mellon Settlement), as trustee (Trustee) for 525 Countrywide first-lien and five second-lien non-GSE securitization trusts (the Covered Trusts), the December 31, 2010 agreements with the GSEs to resolve repurchase claims (the 2010 GSE Agreements), the settlement with Assured Guaranty Ltd. and subsidiaries in 2011 (the Assured Guaranty Settlement), and the settlement with Syncora Guarantee Inc. and Syncora Holdings, Ltd. in 2012, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The settlements with MBIA Inc. and certain of its affiliates (MBIA) and FNMA are discussed below. | ||||||||||||||||||||||||
MBIA Settlement | ||||||||||||||||||||||||
On May 7, 2013, the Corporation entered into a comprehensive settlement with MBIA which resolved all outstanding litigation between the parties, as well as other claims between the parties, including outstanding and potential claims from MBIA related to alleged representations and warranties breaches and other claims involving certain first- and second-lien RMBS trusts for which MBIA provided financial guarantee insurance, certain of which claims were the subject of litigation. At the time of the settlement, the mortgages (first- and second-lien) in RMBS trusts covered by the MBIA Settlement had an original principal balance of $54.8 billion and an unpaid principal balance of $19.1 billion. | ||||||||||||||||||||||||
Under the MBIA Settlement, all pending litigation between the parties was dismissed and each party received a global release of those claims. The Corporation made a settlement payment to MBIA of $1.565 billion in cash and transferred to MBIA approximately $95 million in fair market value of notes issued by MBIA and previously held by the Corporation. The Corporation was fully reserved at March 31, 2013 for the MBIA Settlement. In addition, MBIA issued to the Corporation warrants to purchase up to approximately 4.9 percent of MBIA's currently outstanding common stock, at an exercise price of $9.59 per share, which may be exercised at any time prior to May 2018. In addition, the Corporation provided a senior secured $500 million credit facility to an affiliate of MBIA. | ||||||||||||||||||||||||
The parties also terminated various CDS transactions entered into between the Corporation and a MBIA-affiliate, LaCrosse Financial Products, LLC, and guaranteed by MBIA, which constituted all of the outstanding CDS protection agreements purchased by the Corporation from MBIA on commercial mortgage-backed securities (CMBS). Collectively, those CDS transactions had a notional amount of $7.4 billion and a fair value of $813 million as of March 31, 2013. The parties also terminated certain other trades in order to close out positions between the parties. The termination of these trades did not have a material impact on the Corporation's financial statements. | ||||||||||||||||||||||||
Fannie Mae Settlement | ||||||||||||||||||||||||
On January 6, 2013, the Corporation entered into an agreement with FNMA to resolve substantially all outstanding and potential repurchase and certain other claims relating to the origination, sale and delivery of residential mortgage loans originated from January 1, 2000 through December 31, 2008 and sold directly to FNMA by entities related to Countrywide and BANA. | ||||||||||||||||||||||||
This agreement covers loans with an aggregate original principal balance of approximately $1.4 trillion and an aggregate outstanding principal balance of approximately $300 billion. Unresolved repurchase claims submitted by FNMA for alleged breaches of selling representations and warranties with respect to these loans totaled $12.2 billion of unpaid principal balance at December 31, 2012. This agreement extinguished substantially all of those unresolved repurchase claims, as well as any future representations and warranties repurchase claims associated with such loans, subject to certain exceptions which the Corporation does not expect to be material. | ||||||||||||||||||||||||
In January 2013, the Corporation made a cash payment to FNMA of $3.6 billion and also repurchased for $6.6 billion certain residential mortgage loans that had previously been sold to FNMA, which the Corporation has valued at less than the purchase price. | ||||||||||||||||||||||||
This agreement also clarified the parties' obligations with respect to MI including establishing timeframes for certain payments and other actions, setting parameters for potential bulk settlements and providing for cooperation in future dealings with mortgage insurers. For additional information, see Mortgage Insurance Rescission Notices in this Note. | ||||||||||||||||||||||||
In addition, pursuant to a separate agreement, the Corporation settled substantially all of FNMA's outstanding and future claims for compensatory fees arising out of past foreclosure delays. | ||||||||||||||||||||||||
Collectively, these agreements are referred to herein as the FNMA Settlement. The Corporation was fully reserved at December 31, 2012 for the settlement with FNMA. | ||||||||||||||||||||||||
Settlement with the Bank of New York Mellon, as Trustee | ||||||||||||||||||||||||
With regard to the BNY Mellon Settlement, the court approval hearing began on June 3, 2013 in the New York Supreme Court, New York County, and additional hearing days and closing arguments are scheduled to take place in November 2013. Although the Corporation is not a party to the proceeding, certain of its rights and obligations under the settlement agreement are conditioned on final court approval of the settlement. | ||||||||||||||||||||||||
Unresolved Repurchase Claims | ||||||||||||||||||||||||
Unresolved representations and warranties repurchase claims represent the notional amount of repurchase claims made by counterparties, typically the outstanding principal balance or the unpaid principal balance at the time of default. In the case of first-lien mortgages, the claim amount is often significantly greater than the expected loss amount due to the benefit of collateral and, in some cases, MI or mortgage guarantee payments. Claims received from a counterparty remain outstanding until the underlying loan is repurchased, the claim is rescinded by the counterparty, or the claim is otherwise resolved. When a claim is denied and the Corporation does not receive a response from the counterparty, the claim remains in the unresolved repurchase claims balance until resolution. | ||||||||||||||||||||||||
The table below presents unresolved repurchase claims at September 30, 2013 and December 31, 2012. The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has a basis to submit claims. For additional information, see Whole Loan Sales and Private-label Securitizations Experience in this Note and Note 11 – Commitments and Contingencies herein. These repurchase claims do not include any repurchase claims related to the BNY Mellon Settlement regarding the Covered Trusts. | ||||||||||||||||||||||||
Unresolved Repurchase Claims by Counterparty and Product Type (1, 2) | ||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
By counterparty | ||||||||||||||||||||||||
GSEs | $ | 1,208 | $ | 13,530 | ||||||||||||||||||||
Monolines | 1,541 | 2,449 | ||||||||||||||||||||||
Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | 14,911 | 12,299 | ||||||||||||||||||||||
Total unresolved repurchase claims by counterparty | $ | 17,660 | $ | 28,278 | ||||||||||||||||||||
By product type | ||||||||||||||||||||||||
Prime loans | $ | 1,631 | $ | 8,793 | ||||||||||||||||||||
Alt-A | 1,456 | 5,428 | ||||||||||||||||||||||
Home equity | 1,734 | 2,394 | ||||||||||||||||||||||
Pay option | 5,680 | 5,884 | ||||||||||||||||||||||
Subprime | 5,276 | 3,687 | ||||||||||||||||||||||
Other | 1,883 | 2,092 | ||||||||||||||||||||||
Total unresolved repurchase claims by product type | $ | 17,660 | $ | 28,278 | ||||||||||||||||||||
(1) | Excludes certain MI rescission notices. However, at September 30, 2013 and December 31, 2012, included $443 million and $2.3 billion of repurchase requests received from the GSEs that have resulted solely from MI rescission notices. For additional information, see Mortgage Insurance Rescission Notices in this Note. | |||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, unresolved repurchase claims did not include repurchase demands of $1.4 billion and $1.6 billion where the Corporation believes the claimants have not satisfied the contractual thresholds as discussed on page 212. | |||||||||||||||||||||||
The notional amount of unresolved GSE repurchase claims totaled $1.2 billion at September 30, 2013 compared to $13.5 billion at December 31, 2012. As a result of the FNMA Settlement, $12.2 billion of GSE repurchase claims outstanding at December 31, 2012 were resolved in January 2013. For further discussion of the Corporation's experience with the GSEs, see Government-sponsored Enterprises Experience in this Note. | ||||||||||||||||||||||||
The notional amount of unresolved monoline repurchase claims totaled $1.5 billion at September 30, 2013 compared to $2.4 billion at December 31, 2012. The Corporation has had limited loan-level repurchase claims experience with the remaining monoline insurers due to ongoing litigation. In the Corporation's experience, the monolines have been generally unwilling to withdraw repurchase claims, regardless of whether and what evidence was offered to refute a claim. Substantially all of the unresolved monoline claims pertain to second-lien loans and are currently the subject of litigation. As a result of the MBIA Settlement, $945 million of monoline repurchase claims outstanding at December 31, 2012 were resolved in May 2013. For further discussion of the Corporation's practices regarding litigation accruals and estimated range of possible loss for litigation and regulatory matters, which includes the status of its monoline litigation, see Estimated Range of Possible Loss in this Note and Litigation and Regulatory Matters in Note 11 – Commitments and Contingencies. | ||||||||||||||||||||||||
The notional amount of unresolved repurchase claims from private-label securitization trustees, whole-loan investors, including third-party securitization sponsors, and others totaled $14.9 billion at September 30, 2013 compared to $12.3 billion at December 31, 2012. The increase in the notional amount of unresolved repurchase claims is primarily due to continued submission of claims by private-label securitization trustees; the level of detail, support and analysis which impacts overall claim quality and, therefore, claims resolution; and the lack of an established process to resolve disputes related to these claims. The Corporation expects unresolved repurchase claims related to private-label securitizations to continue to increase as claims continue to be submitted by private-label securitization trustees and there is not an established process for the ultimate resolution of claims on which there is a disagreement. For further discussion of the Corporation's experience with whole loans and private-label securitizations, see Whole Loan Sales and Private-label Securitizations Experience in this Note. | ||||||||||||||||||||||||
During the three months ended September 30, 2013, the Corporation received $1.8 billion in new repurchase claims, including $642 million submitted by the GSEs for both Countrywide and legacy Bank of America originations not covered by the bulk settlements with the GSEs, $1.0 billion submitted by private-label securitization trustees, $174 million submitted by whole-loan investors and $5 million submitted by monoline insurers. During the three months ended September 30, 2013, $822 million in claims were resolved, primarily with the GSEs. Of the claims that were resolved, $536 million were resolved through rescissions and $286 million were resolved through mortgage repurchases and make-whole payments. | ||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Corporation received $5.1 billion in new repurchase claims, including $1.6 billion submitted by the GSEs for both Countrywide and legacy Bank of America originations not covered by the bulk settlements with the GSEs, $3.0 billion submitted by private-label securitization trustees, $442 million submitted by whole-loan investors and $49 million submitted by monoline insurers. During the nine months ended September 30, 2013, $15.6 billion in claims were resolved, primarily with the GSEs, including $12.2 billion in GSE claims resolved through the FNMA Settlement and $945 million resolved through the MBIA Settlement. Of the remaining claims that were resolved, $1.5 billion were resolved through rescissions and $962 million were resolved through mortgage repurchases and make-whole payments, primarily with the GSEs. | ||||||||||||||||||||||||
In addition to, and not included in, the total unresolved repurchase claims of $17.7 billion at September 30, 2013, the Corporation has received repurchase demands from private-label securitization investors and a master servicer where it believes the claimants have not satisfied the contractual thresholds to direct the securitization trustee to take action and/or that these demands are otherwise procedurally or substantively invalid. The total amounts outstanding of such demands were $1.4 billion, comprised of $1.1 billion of demands received during 2012 and approximately $300 million of demands related to trusts covered by the BNY Mellon Settlement at September 30, 2013 compared to $1.6 billion at December 31, 2012. The Corporation does not believe that the $1.4 billion of demands outstanding at September 30, 2013 represents valid repurchase claims and, therefore, it is not possible to predict the resolution with respect to such demands. | ||||||||||||||||||||||||
Mortgage Insurance Rescission Notices | ||||||||||||||||||||||||
In addition to repurchase claims, the Corporation receives notices from mortgage insurance companies of claim denials, cancellations or coverage rescission (collectively, MI rescission notices). Although the number of such notices has remained elevated, they have decreased over the last several quarters as the resolution of open notices exceeded new notices. At September 30, 2013, the Corporation had approximately 105,000 open MI rescission notices compared to 110,000 at December 31, 2012. Open MI rescission notices at September 30, 2013 included 43,000 pertaining principally to first-lien mortgages serviced for others, 11,000 pertaining to loans held-for-investment and 51,000 pertaining to ongoing litigation for second-lien mortgages. Approximately 24,000 of the open MI rescission notices pertaining to first-lien mortgages serviced for others are related to loans sold to FNMA. As of September 30, 2013, 39 percent of the MI rescission notices received have been resolved. | ||||||||||||||||||||||||
Although the FNMA Settlement did not resolve underlying MI rescission notices, the FNMA Settlement resolved significant representations and warranties exposures, including unresolved and potential repurchase claims from FNMA resulting solely from MI rescission notices relating to loans covered by the FNMA Settlement. The Corporation's pipeline of unresolved repurchase claims from the GSEs resulting solely from MI rescission notices was $443 million at September 30, 2013 compared to $2.3 billion at December 31, 2012. The FNMA Settlement resolved approximately $1.9 billion of such unresolved repurchase claims that were outstanding at December 31, 2012. Many of these claims represent repurchase claims on loans for which the Corporation received a MI rescission notice that is included in the 24,000 open MI rescission notices referenced in the paragraph above. In addition, the FNMA Settlement clarified the parties' obligations with respect to MI rescission notices including establishing timeframes for certain payments and other actions, setting parameters for potential bulk settlements and providing for cooperation in future dealings with mortgage insurers. As a result, the Corporation is required to pay the amount of certain MI coverage to FNMA as a result of MI claims rescissions in advance of collection from the mortgage insurance companies and has remitted the amounts required under the agreement related to the 24,000 open MI rescission notices. In certain cases, it may not ultimately collect all such amounts from the mortgage insurance companies. | ||||||||||||||||||||||||
For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
Cash Settlements | ||||||||||||||||||||||||
The table below presents first-lien and home equity loan repurchases and indemnification payments for the three and nine months ended September 30, 2013 and 2012. During the three and nine months ended September 30, 2013, the Corporation paid $277 million and $1.0 billion to resolve $343 million and $1.2 billion of repurchase claims through repurchase or reimbursement to the investor or securitization trust for losses they incurred, resulting in a loss on the related loans at the time of repurchase or reimbursement of $168 million and $466 million. During the three and nine months ended September 30, 2012, the Corporation paid $396 million and $1.4 billion to resolve $431 million and $1.7 billion of repurchase claims through repurchase or reimbursement to the investor or securitization trust for losses they incurred, resulting in a loss on the related loans at the time of repurchase or reimbursement of $231 million and $640 million. The amounts shown in the table below exclude $51 million and $1.7 billion in payments to settle monoline claims for the three and nine months ended September 30, 2013 compared to $469 million and $600 million for the same periods in 2012. Additionally, the amounts in the table below exclude a cash payment of $3.6 billion made in January 2013 to FNMA and the repurchase for $6.6 billion of certain residential mortgage loans which the Corporation valued at less than the purchase price, both of which were part of the FNMA Settlement. | ||||||||||||||||||||||||
For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
Loan Repurchases and Indemnification Payments | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(Dollars in millions) | Unpaid | Cash Paid | Loss | Unpaid | Cash Paid | Loss | ||||||||||||||||||
Principal | for | Principal | for | |||||||||||||||||||||
Balance | Repurchases | Balance | Repurchases | |||||||||||||||||||||
First-lien | ||||||||||||||||||||||||
Repurchases | $ | 128 | $ | 136 | $ | 27 | $ | 239 | $ | 261 | $ | 98 | ||||||||||||
Indemnification payments | 190 | 115 | 115 | 183 | 126 | 126 | ||||||||||||||||||
Total first-lien | 318 | 251 | 142 | 422 | 387 | 224 | ||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Repurchases | — | — | — | 2 | 2 | — | ||||||||||||||||||
Indemnification payments | 25 | 26 | 26 | 7 | 7 | 7 | ||||||||||||||||||
Total home equity | 25 | 26 | 26 | 9 | 9 | 7 | ||||||||||||||||||
Total first-lien and home equity | $ | 343 | $ | 277 | $ | 168 | $ | 431 | $ | 396 | $ | 231 | ||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
First-lien | ||||||||||||||||||||||||
Repurchases | $ | 661 | $ | 693 | $ | 124 | $ | 989 | $ | 1,065 | $ | 313 | ||||||||||||
Indemnification payments | 481 | 291 | 291 | 647 | 298 | 298 | ||||||||||||||||||
Total first-lien | 1,142 | 984 | 415 | 1,636 | 1,363 | 611 | ||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Repurchases | — | — | — | 18 | 18 | — | ||||||||||||||||||
Indemnification payments | 49 | 51 | 51 | 32 | 29 | 29 | ||||||||||||||||||
Total home equity | 49 | 51 | 51 | 50 | 47 | 29 | ||||||||||||||||||
Total first-lien and home equity | $ | 1,191 | $ | 1,035 | $ | 466 | $ | 1,686 | $ | 1,410 | $ | 640 | ||||||||||||
Liability for Representations and Warranties and Corporate Guarantees | ||||||||||||||||||||||||
The liability for representations and warranties and corporate guarantees is included in accrued expenses and other liabilities on the Consolidated Balance Sheet and the related provision is included in mortgage banking income in the Consolidated Statement of Income. The liability for representations and warranties is established when those obligations are both probable and reasonably estimable. | ||||||||||||||||||||||||
The Corporation's estimated liability at September 30, 2013 for obligations under representations and warranties given to the GSEs and the corresponding estimated range of possible loss considers, and is necessarily dependent on, and limited by, a number of factors, including the Corporation's experience related to actual defaults, projected future defaults, historical loss experience, estimated home prices and other economic conditions. The methodology also considers such factors as the number of payments made by the borrower prior to default as well as certain other assumptions and judgmental factors. See Estimated Range of Possible Loss below for a discussion of the representations and warranties liability and the corresponding estimated range of possible loss. | ||||||||||||||||||||||||
The Corporation's estimate of the non-GSE representations and warranties liability and the corresponding estimated range of possible loss considers, among other things, repurchase experience based on the BNY Mellon Settlement, adjusted to reflect differences between the Covered Trusts and the remainder of the population of private-label securitizations, and assumes that the conditions to the BNY Mellon Settlement will be met. Since the non-GSE securitization trusts that were included in the BNY Mellon Settlement differ from those that were not included in the BNY Mellon Settlement, the Corporation adjusted the repurchase experience implied in the settlement in order to determine the estimated non-GSE representations and warranties liability and the corresponding estimated range of possible loss. The judgmental adjustments made include consideration of the differences in the mix of products in the subject securitizations, loan originator, likelihood of claims expected, the differences in the number of payments that the borrower has made prior to default and the sponsor of the securitizations. Where relevant, the Corporation also takes into account more recent experience, such as increased claim activity, its experience with various counterparties and other facts and circumstances, such as bulk settlements, as the Corporation believes appropriate. | ||||||||||||||||||||||||
Additional factors that impact the non-GSE representations and warranties liability and the portion of the estimated range of possible loss corresponding to non-GSE representations and warranties exposures include: (1) contractual material adverse effect requirements, (2) the representations and warranties provided, and (3) the requirement to meet certain presentation thresholds. For more information on these factors, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
The table below presents a rollforward of the liability for representations and warranties and corporate guarantees. | ||||||||||||||||||||||||
Representations and Warranties and Corporate Guarantees | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Liability for representations and warranties and corporate guarantees, beginning of period | $ | 14,020 | $ | 15,943 | $ | 19,021 | $ | 15,858 | ||||||||||||||||
Additions for new sales | 9 | 8 | 31 | 19 | ||||||||||||||||||||
Net reductions | (236 | ) | 11 | (5,706 | ) | (592 | ) | |||||||||||||||||
Provision | 323 | 307 | 770 | 984 | ||||||||||||||||||||
Liability for representations and warranties and corporate guarantees, September 30 | $ | 14,116 | $ | 16,269 | $ | 14,116 | $ | 16,269 | ||||||||||||||||
Estimated Range of Possible Loss | ||||||||||||||||||||||||
The representations and warranties liability represents the Corporation's best estimate of probable incurred losses as of September 30, 2013. However, it is reasonably possible that future representations and warranties losses may occur in excess of the amounts recorded for these exposures. In addition, the Corporation has not recorded any representations and warranties liability for certain potential private-label securitization and whole-loan exposures where it has little to no claim activity. The Corporation currently estimates that the range of possible loss for representations and warranties exposures could be up to $4 billion over accruals at September 30, 2013. The estimated range of possible loss reflects principally non-GSE exposures. The estimated range of possible loss related to these representations and warranties exposures does not represent a probable loss, and is based on currently available information, significant judgment and a number of assumptions that are subject to change. The Corporation's estimated range of possible loss related to representations and warranties exposures does not include possible losses related to monoline insurers. | ||||||||||||||||||||||||
Future provisions and/or ranges of possible loss for representations and warranties may be significantly impacted if actual experiences are different from the Corporation's assumptions in its predictive models, including, without limitation, ultimate resolution of the BNY Mellon Settlement, estimated repurchase rates, estimated MI rescission rates, economic conditions, estimated home prices, consumer and counterparty behavior, and a variety of other judgmental factors. Adverse developments with respect to one or more of the assumptions underlying the liability for representations and warranties and the corresponding estimated range of possible loss could result in significant increases to future provisions and/or the estimated range of possible loss. For example, an appellate court, in the context of claims brought by a monoline insurer, disagreed with the Corporation's interpretation that a loan must be in default in order to satisfy the underlying agreements' requirement that a breach have a material and adverse effect. If that decision is extended to non-monoline contexts, it could significantly impact the Corporation's provision and/or the estimated range of possible loss. Additionally, if court rulings related to monoline litigation, including one related to the Corporation, that have allowed sampling of loan files instead of requiring a loan-by-loan review to determine if a representations and warranties breach has occurred, are followed generally by the courts in future monoline litigation, private-label securitization counterparties may view litigation as a more attractive alternative compared to a loan-by-loan review. Finally, although the Corporation believes that the representations and warranties typically given in non-GSE transactions are less rigorous and actionable than those given in GSE transactions, the Corporation does not have significant experience resolving loan-level claims in non-GSE transactions to measure the impact of these differences on the probability that a loan will be required to be repurchased. For additional information, see Note 13 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
The liability for representations and warranties exposures and the corresponding estimated range of possible loss do not consider any losses related to litigation matters, including litigation brought by monoline insurers, nor do they include any separate foreclosure costs and related costs, assessments and compensatory fees or any other possible losses related to potential claims for breaches of performance of servicing obligations, except as such losses are included as potential costs of the BNY Mellon Settlement, potential securities law or fraud claims or potential indemnity or other claims against the Corporation, including claims related to loans insured by the FHA. The Corporation is not able to reasonably estimate the amount of any possible loss with respect to any such servicing, securities law, fraud or other claims against the Corporation, except to the extent reflected in the estimated range of possible loss for litigation and regulatory matters disclosed in Note 11 – Commitments and Contingencies; however, such loss could be material. | ||||||||||||||||||||||||
Government-sponsored Enterprises Experience | ||||||||||||||||||||||||
The Corporation and its subsidiaries have an established history of working with the GSEs on repurchase claims. Generally, the Corporation first becomes aware that a GSE is evaluating a particular loan for repurchase when the Corporation receives a request from a GSE to review the underlying loan file (file request). Upon completing its review, the GSE may submit a repurchase claim to the Corporation. As soon as practicable after receiving a repurchase claim from a GSE, the Corporation evaluates the claim and takes appropriate action. Claim disputes are generally handled through loan-level negotiations with the GSEs and the Corporation seeks to resolve the repurchase claim within 90 to 120 days of the receipt of the claim although claims remain open beyond this timeframe. Disputes include reasonableness of stated income, occupancy, undisclosed liabilities, and the validity of MI claim rescissions in the vintages with the highest default rates. | ||||||||||||||||||||||||
At September 30, 2013, for loans originated prior to 2009, the notional amount of unresolved repurchase claims submitted by the GSEs was $1.1 billion. The Corporation has performed an initial review with respect to $742 million of these claims and does not believe a valid basis for repurchase has been established by the claimant and is still in the process of reviewing the remaining $361 million of these claims. | ||||||||||||||||||||||||
At September 30, 2013, for loans originated after 2008, the notional amount of unresolved repurchase claims submitted by the GSEs was $105 million. The Corporation has performed an initial review with respect to $83 million of these claims and does not believe a valid basis for repurchase has been established by the claimant and is still in the process of reviewing the remaining $22 million of these claims. | ||||||||||||||||||||||||
Monoline Insurers Experience | ||||||||||||||||||||||||
The Corporation has had limited representations and warranties repurchase claims experience with the monoline insurers due to ongoing litigation against Countrywide and/or Bank of America. During the three and nine months ended September 30, 2013, there was minimal repurchase claim activity with the monolines. | ||||||||||||||||||||||||
The MBIA Settlement resolved outstanding and potential claims between the parties to the settlement involving 31 first- and 17 second-lien RMBS trusts for which MBIA provided financial guarantee insurance, including $945 million of monoline repurchase claims outstanding at December 31, 2012. In addition, this settlement covered loans with an unpaid principal balance of $2.6 billion for which the Corporation had received file requests but for which no repurchase claims had been received as of December 31, 2012. The first- and second-lien mortgages in the covered RMBS trusts had an original principal balance of $29.3 billion and $25.5 billion, and an unpaid principal balance of $9.8 billion and $9.3 billion at the time of the settlement. | ||||||||||||||||||||||||
For more information related to the monolines, see Note 11 – Commitments and Contingencies herein and Note 8 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
Whole Loan Sales and Private-label Securitizations Experience | ||||||||||||||||||||||||
The majority of the repurchase claims that the Corporation has received and resolved outside of those from the GSEs and monolines are from third-party whole-loan investors. The Corporation provided representations and warranties and the whole-loan investors may retain those rights even when the loans were aggregated with other collateral into private-label securitizations sponsored by the whole-loan investors. The Corporation reviews properly presented repurchase claims for these whole loans on a loan-by-loan basis. If, after the Corporation's review, it does not believe a claim is valid, it will deny the claim and generally indicate a reason for the denial. When the whole-loan investor agrees with the Corporation's denial of the claim, the whole-loan investor may rescind the claim. When there is disagreement as to the resolution of the claim, meaningful dialogue and negotiation between the parties are generally necessary to reach a resolution on an individual claim. Generally, a whole-loan investor is engaged in the repurchase process and the Corporation and the whole-loan investor reach resolution, either through loan-by-loan negotiation or at times, through a bulk settlement. As of September 30, 2013, 15 percent of the whole-loan claims that the Corporation initially denied have subsequently been resolved through repurchase or make-whole payments and 43 percent have been resolved through rescission or repayment in full by the borrower. Although the timeline for resolution varies, once an actionable breach is identified on a given loan, settlement is generally reached as to that loan within 60 to 90 days. When a claim has been denied and the Corporation does not have communication with the counterparty for six months, the Corporation views these claims as inactive; however, they remain in the outstanding claims balance until resolution. | ||||||||||||||||||||||||
In private-label securitizations, certain presentation thresholds need to be met in order for investors to direct a trustee to assert repurchase claims. Continued high levels of new private-label claims are primarily related to repurchase requests received from trustees and third-party sponsors for private-label securitization transactions not included in the BNY Mellon Settlement, including claims related to first-lien third-party sponsored securitizations that include monoline insurance. Over time, there has been an increase in requests for loan files from certain private-label securitization trustees, as well as requests for tolling agreements to toll the applicable statute of limitations relating to representations and warranties repurchase claims, and the Corporation believes it is likely that these requests will lead to an increase in repurchase claims from private-label securitization trustees with standing to bring such claims. In addition, private-label securitization trustees may have obtained loan files through other means, including litigation and administrative subpoenas. The representations and warranties, as governed by the private-label securitization agreements, generally require that counterparties have the ability to both assert a claim and actually prove that a loan has an actionable defect under the applicable contracts. While the Corporation believes the agreements for private-label securitizations generally contain less rigorous representations and warranties and place higher burdens on claimants seeking repurchases than the express provisions of comparable agreements with the GSEs, without regard to any variations that may have arisen as a result of dealings with the GSEs, the agreements generally include a representation that underwriting practices were prudent and customary. In the case of private-label securitization trustees and third-party sponsors, there is currently no established process in place for the parties to reach a conclusion on an individual loan if there is a disagreement on the resolution of the claim. For more information on repurchase demands, see Unresolved Repurchase Claims in this Note. | ||||||||||||||||||||||||
At September 30, 2013, for loans originated between 2004 and 2008, the notional amount of unresolved repurchase claims submitted by private-label securitization trustees and whole-loan investors was $14.8 billion. The Corporation has performed an initial review with respect to $13.9 billion of these claims and does not believe a valid basis for repurchase has been established by the claimant and is still in the process of reviewing the remaining $911 million of these claims. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||
NOTE 9 – Goodwill and Intangible Assets | ||||||||||||||||
Goodwill | ||||||||||||||||
The table below presents goodwill balances by business segment at September 30, 2013 and December 31, 2012. The reporting units utilized for goodwill impairment tests are the operating segments or one level below. For additional information, see Note 9 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||
Goodwill | ||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||
2013 | 2012 | |||||||||||||||
Consumer & Business Banking | $ | 31,681 | $ | 31,681 | ||||||||||||
Global Banking | 22,377 | 22,377 | ||||||||||||||
Global Markets | 5,197 | 5,181 | ||||||||||||||
Global Wealth & Investment Management | 9,698 | 9,698 | ||||||||||||||
All Other | 938 | 1,039 | ||||||||||||||
Total goodwill | $ | 69,891 | $ | 69,976 | ||||||||||||
Effective January 1, 2013, on a prospective basis, the Corporation adjusted the amount of capital being allocated to the business segments. The adjustment reflects a refinement to the prior-year methodology (economic capital), which focused solely on internal risk-based economic capital models. The refined methodology (allocated capital) now also considers the effect of regulatory capital requirements in addition to internal risk-based economic capital models. For purposes of goodwill impairment testing, the Corporation utilizes allocated equity as a proxy for the carrying value of its reporting units. Allocated equity in the reporting units is comprised of allocated capital plus capital for the portion of goodwill and intangibles specifically assigned to the reporting unit. | ||||||||||||||||
There was no goodwill in Consumer Real Estate Services at September 30, 2013 and December 31, 2012. | ||||||||||||||||
During the nine months ended September 30, 2013, the consumer Dealer Financial Services (DFS) business, including $1.7 billion of goodwill, was moved from Global Banking to CBB in order to align this business more closely with the Corporation's consumer lending activity and better serve the needs of its customers. In 2012, the International Wealth Management businesses within GWIM, including $230 million of goodwill, were moved to All Other in connection with the Corporation's agreement to sell these businesses in a series of transactions. Certain of the sales transactions were completed during the nine months ended September 30, 2013, and most of the remaining sales transactions are expected to close over the next 15 months. Prior periods were reclassified to conform to current period presentation. | ||||||||||||||||
During the three months ended September 30, 2013, the Corporation completed its annual goodwill impairment test as of June 30, 2013 for all applicable reporting units. Based on the results of the annual goodwill impairment test, the Corporation determined there was no impairment. For more information regarding annual goodwill impairment testing, see Note 9 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||
Intangible Assets | ||||||||||||||||
The table below presents the gross carrying value and accumulated amortization for intangible assets at September 30, 2013 and December 31, 2012. | ||||||||||||||||
Intangible Assets (1) | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
(Dollars in millions) | Gross | Accumulated | Gross | Accumulated | ||||||||||||
Carrying Value | Amortization | Carrying Value | Amortization | |||||||||||||
Purchased credit card relationships | $ | 6,137 | $ | 4,735 | $ | 6,184 | $ | 4,494 | ||||||||
Core deposit intangibles | 3,592 | 3,009 | 3,592 | 2,858 | ||||||||||||
Customer relationships | 4,025 | 2,182 | 4,025 | 1,884 | ||||||||||||
Affinity relationships | 1,571 | 1,167 | 1,572 | 1,087 | ||||||||||||
Other intangibles | 2,045 | 434 | 2,139 | 505 | ||||||||||||
Total intangible assets | $ | 17,370 | $ | 11,527 | $ | 17,512 | $ | 10,828 | ||||||||
(1) | Excludes fully amortized intangible assets. | |||||||||||||||
At September 30, 2013 and December 31, 2012, none of the intangible assets were impaired. Amortization of intangibles expense was $270 million and $820 million for the three and nine months ended September 30, 2013 compared to $315 million and $955 million for the same periods in 2012. The Corporation estimates aggregate amortization expense will be approximately $270 million for the remainder of 2013, and $940 million, $840 million, $740 million, $650 million and $570 million for 2014 through 2018, respectively. |
Federal_Funds_Sold_or_Purchase
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | ||||||||||||||||||||||||||||
NOTE 10 – Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | ||||||||||||||||||||||||||||
The table below presents federal funds sold or purchased, securities financing agreements which include securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase, and short-term borrowings. | ||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Average during period | ||||||||||||||||||||||||||||
Federal funds sold | $ | 10 | $ | 519 | 0.74 | % | 0.36 | % | $ | 8 | $ | 281 | 0.68 | % | 0.44 | % | ||||||||||||
Securities borrowed or purchased under agreements to resell | 223,424 | 234,436 | 0.52 | 0.6 | 231,371 | 233,777 | 0.53 | 0.67 | ||||||||||||||||||||
Total | $ | 223,434 | $ | 234,955 | 0.52 | 0.6 | $ | 231,379 | $ | 234,058 | 0.53 | 0.67 | ||||||||||||||||
Federal funds purchased | $ | 183 | $ | 211 | 0.03 | % | 0.05 | % | $ | 188 | $ | 229 | 0.06 | % | 0.05 | % | ||||||||||||
Securities loaned or sold under agreements to repurchase | 235,022 | 286,931 | 0.82 | 0.95 | 268,549 | 274,166 | 0.8 | 1.04 | ||||||||||||||||||||
Short-term borrowings | 44,220 | 37,881 | 1.76 | 2.16 | 42,749 | 37,981 | 2.01 | 2.07 | ||||||||||||||||||||
Total | $ | 279,425 | $ | 325,023 | 0.97 | 1.09 | $ | 311,486 | $ | 312,376 | 0.96 | 1.16 | ||||||||||||||||
Maximum month-end balance during period | ||||||||||||||||||||||||||||
Federal funds sold | $ | 35 | $ | 550 | $ | 550 | $ | 550 | ||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | 220,985 | 237,630 | 249,791 | 252,303 | ||||||||||||||||||||||||
Federal funds purchased | $ | 166 | $ | 207 | $ | 1,271 | $ | 331 | ||||||||||||||||||||
Securities loaned or sold under agreements to repurchase | 239,556 | 291,093 | 319,608 | 291,093 | ||||||||||||||||||||||||
Short-term borrowings | 44,291 | 40,129 | 46,470 | 40,129 | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||||||||
Period-end balance | ||||||||||||||||||||||||||||
Federal funds sold | $ | — | — | % | $ | 600 | 0.54 | % | ||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | 212,007 | 0.5 | 219,324 | 0.92 | ||||||||||||||||||||||||
Total | $ | 212,007 | 0.5 | $ | 219,924 | 0.92 | ||||||||||||||||||||||
Federal funds purchased | $ | 151 | 0.1 | % | $ | 1,151 | 0.17 | % | ||||||||||||||||||||
Securities loaned or sold under agreements to repurchase | 226,123 | 0.85 | 292,108 | 1.11 | ||||||||||||||||||||||||
Short-term borrowings | 40,769 | 1.86 | 30,731 | 3.08 | ||||||||||||||||||||||||
Total | $ | 267,043 | 1 | $ | 323,990 | 1.29 | ||||||||||||||||||||||
Offsetting of Securities Financing Agreements | ||||||||||||||||||||||||||||
Substantially all of repurchase and resale activities are transacted under legally enforceable master repurchase agreements that give the Corporation, in the event of default by the counterparty, the right to liquidate securities held and to offset receivables and payables with the same counterparty. The Corporation offsets repurchase and resale transactions with the same counterparty on the Consolidated Balance Sheet where it has such a legally enforceable master netting agreement and the transactions have the same maturity date. | ||||||||||||||||||||||||||||
Substantially all securities borrowing and lending activities are transacted under legally enforceable master securities lending agreements that give the Corporation, in the event of default by the counterparty, the right to liquidate securities held and to offset receivables and payables with the same counterparty. The Corporation offsets securities borrowing and lending transactions with the same counterparty on the Consolidated Balance Sheet where it has such a legally enforceable master netting agreement and the transactions have the same maturity date. | ||||||||||||||||||||||||||||
The table below presents securities financing agreements included on the Consolidated Balance Sheet in federal funds sold and securities borrowed or purchased under agreements to resell, and in federal funds purchased and securities loaned or sold under agreements to repurchase at September 30, 2013 and December 31, 2012. Balances are presented on a gross basis, prior to the application of counterparty netting. Gross assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements. For more information on the offsetting of derivatives, see Note 3 – Derivatives. | ||||||||||||||||||||||||||||
The "other" amount in the table below relates to transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged or sold as collateral. In these transactions, the Corporation recognizes an asset at fair value, representing the securities received, and a liability for the same amount, representing the obligation to return those securities. The "other" amount is included on the Consolidated Balance Sheet in other assets and in accrued expenses and other liabilities. | ||||||||||||||||||||||||||||
The column titled "Financial Instruments" in the table below includes securities collateral received or pledged under repurchase or securities lending agreements where there is a legally enforceable master netting agreement. These amounts are not offset on the Consolidated Balance Sheet, but are shown as a reduction to the net balance sheet amount in the table to derive a net asset or liability. Securities collateral received or pledged where the legal enforceability of the master netting agreements is not certain is not included. | ||||||||||||||||||||||||||||
Gross assets and liabilities include activity where uncertainty exists as to the enforceability of certain master netting agreements under bankruptcy laws in some countries or industries, and accordingly, these are reported on a gross basis. | ||||||||||||||||||||||||||||
Securities Financing Agreements | ||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||
(Dollars in millions) | Gross Assets/Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Instruments | Net Assets/Liabilities | |||||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | $ | 315,751 | $ | (103,744 | ) | $ | 212,007 | $ | (171,277 | ) | $ | 40,730 | ||||||||||||||||
Securities loaned or sold under agreements to repurchase | $ | 329,867 | $ | (103,744 | ) | $ | 226,123 | $ | (180,918 | ) | $ | 45,205 | ||||||||||||||||
Other | 9,180 | — | 9,180 | (9,180 | ) | — | ||||||||||||||||||||||
Total | $ | 339,047 | $ | (103,744 | ) | $ | 235,303 | $ | (190,098 | ) | $ | 45,205 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | $ | 366,238 | $ | (146,914 | ) | $ | 219,324 | $ | (173,593 | ) | $ | 45,731 | ||||||||||||||||
Securities loaned or sold under agreements to repurchase | $ | 439,022 | $ | (146,914 | ) | $ | 292,108 | $ | (217,817 | ) | $ | 74,291 | ||||||||||||||||
Other | 12,306 | — | 12,306 | (12,302 | ) | 4 | ||||||||||||||||||||||
Total | $ | 451,328 | $ | (146,914 | ) | $ | 304,414 | $ | (230,119 | ) | $ | 74,295 | ||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||
Commitments and Contingencies | ||||||||||||||||||||
NOTE 11 – Commitments and Contingencies | ||||||||||||||||||||
In the normal course of business, the Corporation enters into a number of off-balance sheet commitments. These commitments expose the Corporation to varying degrees of credit and market risk and are subject to the same credit and market risk limitation reviews as those instruments recorded on the Consolidated Balance Sheet. For more information on commitments and contingencies, see Note 13 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||
Credit Extension Commitments | ||||||||||||||||||||
The Corporation enters into commitments to extend credit such as loan commitments, standby letters of credit and commercial letters of credit to meet the financing needs of its customers. The Credit Extension Commitments table includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated) to other financial institutions of $21.0 billion and $23.9 billion at September 30, 2013 and December 31, 2012. At September 30, 2013, the carrying value of these commitments, excluding commitments accounted for under the fair value option, was $499 million, including deferred revenue of $19 million and a reserve for unfunded lending commitments of $480 million. At December 31, 2012, the comparable amounts were $534 million, $21 million and $513 million, respectively. The carrying value of these commitments is classified in accrued expenses and other liabilities on the Consolidated Balance Sheet. | ||||||||||||||||||||
The table below also includes the notional amount of commitments of $14.7 billion and $18.3 billion at September 30, 2013 and December 31, 2012 that are accounted for under the fair value option. However, the table below excludes cumulative net fair value adjustments of $412 million and $528 million on these commitments, which are classified in accrued expenses and other liabilities. For more information regarding the Corporation's loan commitments accounted for under the fair value option, see Note 17 – Fair Value Option. | ||||||||||||||||||||
Credit Extension Commitments | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
(Dollars in millions) | Expire in | Expire After | Expire After Three Years Through | Expire After Five Years | Total | |||||||||||||||
One Year | One Year Through | Five Years | ||||||||||||||||||
or Less | Three Years | |||||||||||||||||||
Notional amount of credit extension commitments | ||||||||||||||||||||
Loan commitments | $ | 84,608 | $ | 102,677 | $ | 133,045 | $ | 22,056 | $ | 342,386 | ||||||||||
Home equity lines of credit | 3,711 | 16,398 | 21,976 | 14,631 | 56,716 | |||||||||||||||
Standby letters of credit and financial guarantees (1) | 22,536 | 9,739 | 2,437 | 4,461 | 39,173 | |||||||||||||||
Letters of credit | 1,603 | 76 | 764 | 290 | 2,733 | |||||||||||||||
Legally binding commitments | 112,458 | 128,890 | 158,222 | 41,438 | 441,008 | |||||||||||||||
Credit card lines (2) | 379,036 | — | — | — | 379,036 | |||||||||||||||
Total credit extension commitments | $ | 491,494 | $ | 128,890 | $ | 158,222 | $ | 41,438 | $ | 820,044 | ||||||||||
December 31, 2012 | ||||||||||||||||||||
Notional amount of credit extension commitments | ||||||||||||||||||||
Loan commitments | $ | 103,791 | $ | 83,885 | $ | 130,805 | $ | 19,942 | $ | 338,423 | ||||||||||
Home equity lines of credit | 2,134 | 13,584 | 23,344 | 21,856 | 60,918 | |||||||||||||||
Standby letters of credit and financial guarantees (1) | 24,593 | 11,387 | 3,094 | 4,751 | 43,825 | |||||||||||||||
Letters of credit | 2,003 | 70 | 10 | 546 | 2,629 | |||||||||||||||
Legally binding commitments | 132,521 | 108,926 | 157,253 | 47,095 | 445,795 | |||||||||||||||
Credit card lines (2) | 397,862 | — | — | — | 397,862 | |||||||||||||||
Total credit extension commitments | $ | 530,383 | $ | 108,926 | $ | 157,253 | $ | 47,095 | $ | 843,657 | ||||||||||
(1) | The notional amounts of SBLCs and financial guarantees classified as investment grade and non-investment grade based on the credit quality of the underlying reference name within the instrument were $28.6 billion and $10.1 billion at September 30, 2013, and $31.5 billion and $11.6 billion at December 31, 2012. Amounts include consumer SBLCs of $537 million and $669 million at September 30, 2013 and December 31, 2012. | |||||||||||||||||||
(2) | Includes business card unused lines of credit. | |||||||||||||||||||
Legally binding commitments to extend credit generally have specified rates and maturities. Certain of these commitments have adverse change clauses that help to protect the Corporation against deterioration in the borrower's ability to pay. | ||||||||||||||||||||
Other Commitments | ||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the Corporation had unfunded equity investment commitments of $235 million and $307 million. | ||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the Corporation had commitments to purchase loans (e.g., residential mortgage and commercial real estate) of $1.4 billion and $1.3 billion, which upon settlement will be included in loans or LHFS. | ||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the Corporation had commitments to enter into forward-dated resale and securities borrowing agreements of $92.3 billion and $67.3 billion, and commitments to enter into forward-dated repurchase and securities lending agreements of $59.1 billion and $42.3 billion. All of these commitments expire within the next 12 months. | ||||||||||||||||||||
The Corporation is a party to operating leases for certain of its premises and equipment. Commitments under these leases are approximately $731 million, $2.7 billion, $2.4 billion, $2.0 billion and $1.6 billion for the remainder of 2013 and the years through 2017, respectively, and $7.1 billion in the aggregate for all years thereafter. | ||||||||||||||||||||
Other Guarantees | ||||||||||||||||||||
Bank-owned Life Insurance Book Value Protection | ||||||||||||||||||||
The Corporation sells products that offer book value protection to insurance carriers who offer group life insurance policies to corporations, primarily banks. The book value protection is provided on portfolios of intermediate investment-grade fixed-income securities and is intended to cover any shortfall in the event that policyholders surrender their policies and market value is below book value. These guarantees are recorded as derivatives and carried at fair value in the trading portfolio. At September 30, 2013 and December 31, 2012, the notional amount of these guarantees totaled $13.3 billion and $13.4 billion and the Corporation's maximum exposure related to these guarantees at both dates totaled $3.0 billion with estimated maturity dates between 2030 and 2040. The net fair value including the fee receivable associated with these guarantees was $42 million and $52 million at September 30, 2013 and December 31, 2012, and reflects the probability of surrender as well as the multiple structural protection features in the contracts. | ||||||||||||||||||||
Employee Retirement Protection | ||||||||||||||||||||
The Corporation sells products that offer book value protection primarily to plan sponsors of the Employee Retirement Income Security Act of 1974 (ERISA) governed pension plans, such as 401(k) plans and 457 plans. The book value protection is provided on portfolios of intermediate/short-term investment-grade fixed-income securities and is intended to cover any shortfall in the event that plan participants continue to make qualified withdrawals after all securities have been liquidated and there is remaining book value. The Corporation retains the option to exit the contract at any time. If the Corporation exercises its option, the investment manager will either terminate the contract or convert the portfolio into a high-quality fixed-income portfolio, typically all government or government-backed agency securities, with the proceeds of the liquidated assets to assure the return of principal. To manage its exposure, the Corporation imposes restrictions and constraints on the timing of the withdrawals, the manner in which the portfolio is liquidated and the funds are accessed, and the investment parameters of the underlying portfolio. These constraints, combined with significant structural protections, are designed to provide adequate buffers and guard against payments even under extreme stress scenarios. These guarantees are recorded as derivatives and carried at fair value in the trading portfolio. At September 30, 2013 and December 31, 2012, the notional amount of these guarantees totaled $6.1 billion and $18.4 billion with estimated maturity dates up to 2017 if the exit option is exercised on all deals. The decline in notional amount in the nine months ended September 30, 2013 was primarily the result of plan sponsors terminating contracts pursuant to exit options. As of September 30, 2013, the Corporation had not made a payment under these products. | ||||||||||||||||||||
Merchant Services | ||||||||||||||||||||
In accordance with credit and debit card association rules, the Corporation sponsors merchant processing servicers that process credit and debit card transactions on behalf of various merchants. In connection with these services, a liability may arise in the event of a billing dispute between the merchant and a cardholder that is ultimately resolved in the cardholder's favor. If the merchant defaults on its obligation to reimburse the cardholder, the cardholder, through its issuing bank, generally has until six months after the date of the transaction to present a chargeback to the merchant processor, which is primarily liable for any losses on covered transactions. However, if the merchant processor fails to meet its obligation to reimburse the cardholder for disputed transactions, then the Corporation, as the sponsor, could be held liable for the disputed amount. For the three and nine months ended September 30, 2013, the sponsored entities processed and settled $154.7 billion and $460.9 billion of transactions and recorded losses of $4 million and $12 million. For the three and nine months ended September 30, 2012, the sponsored entities processed and settled $153.9 billion and $442.7 billion of transactions and recorded losses of $3 million and $7 million. A significant portion of this activity was processed by a joint venture in which the Corporation holds a 49 percent ownership. At September 30, 2013 and December 31, 2012, the sponsored merchant processing servicers held as collateral $207 million and $202 million of merchant escrow deposits which may be used to offset amounts due from the individual merchants. | ||||||||||||||||||||
The Corporation believes the maximum potential exposure for chargebacks would not exceed the total amount of merchant transactions processed through Visa and MasterCard for the last six months, which represents the claim period for the cardholder, plus any outstanding delayed-delivery transactions. As of September 30, 2013 and December 31, 2012, the maximum potential exposure for sponsored transactions totaled $260.4 billion and $263.9 billion. However, the Corporation believes that the maximum potential exposure is not representative of the actual potential loss exposure and does not expect to make material payments in connection with these guarantees. | ||||||||||||||||||||
Other Derivative Contracts | ||||||||||||||||||||
The Corporation funds selected assets, including securities issued by CDOs and CLOs, through derivative contracts, typically total return swaps, with third parties and VIEs that are not consolidated on the Consolidated Balance Sheet. The total notional amount of these derivative contracts was $2.4 billion and $2.9 billion with commercial banks and $1.4 billion with VIEs at both September 30, 2013 and December 31, 2012. The underlying securities are senior securities and substantially all of the Corporation's exposures are insured. Accordingly, the Corporation's exposure to loss consists principally of counterparty risk to the insurers. In certain circumstances, generally as a result of ratings downgrades, the Corporation may be required to purchase the underlying assets, which would not result in additional gain or loss to the Corporation as such exposure is already reflected in the fair value of the derivative contracts. | ||||||||||||||||||||
Other Guarantees | ||||||||||||||||||||
The Corporation has entered into additional guarantee agreements and commitments, including lease-end obligation agreements, partial credit guarantees on certain leases, real estate joint venture guarantees, sold risk participation swaps, divested business commitments and sold put options that require gross settlement. The maximum potential future payment under these agreements was approximately $6.7 billion and $6.8 billion at September 30, 2013 and December 31, 2012. The estimated maturity dates of these obligations extend up to 2033. The Corporation has made no material payments under these guarantees. | ||||||||||||||||||||
In the normal course of business, the Corporation periodically guarantees the obligations of its affiliates in a variety of transactions including ISDA-related transactions and non-ISDA related transactions such as commodities trading, repurchase agreements, prime brokerage agreements and other transactions. | ||||||||||||||||||||
Payment Protection Insurance Claims Matter | ||||||||||||||||||||
In the U.K., the Corporation previously sold payment protection insurance (PPI) through its international card services business to credit card customers and consumer loan customers. PPI covers a consumer's loan or debt repayment if certain events occur such as loss of job or illness. In response to an elevated level of customer complaints across the industry, heightened media coverage and pressure from consumer advocacy groups, the U.K. Financial Services Authority investigated and raised concerns about the way some companies have handled complaints related to the sale of these insurance policies. In connection with this matter, the Corporation established a reserve for PPI. The reserve was $300 million and $510 million at September 30, 2013 and December 31, 2012. The Corporation recorded $66 million and $95 million of expense for the three and nine months ended September 30, 2013 compared to $267 million and $467 million for the same periods in 2012. It is reasonably possible that the Corporation will incur additional expense related to PPI claims; however, the amount of such additional expense cannot be reasonably estimated. | ||||||||||||||||||||
Litigation and Regulatory Matters | ||||||||||||||||||||
The following supplements the disclosure in Note 13 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K and in Note 11 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's Quarterly Report on Form 10-Q for the quarterly periods ended June 30, 2013 and March 31, 2013 (the prior commitments and contingencies disclosure). | ||||||||||||||||||||
In the ordinary course of business, the Corporation and its subsidiaries are routinely defendants in or parties to many pending and threatened legal actions and proceedings, including actions brought on behalf of various classes of claimants. These actions and proceedings are generally based on alleged violations of consumer protection, securities, environmental, banking, employment, contract and other laws. In some of these actions and proceedings, claims for substantial monetary damages are asserted against the Corporation and its subsidiaries. | ||||||||||||||||||||
In the ordinary course of business, the Corporation and its subsidiaries are also subject to regulatory examinations, information gathering requests, inquiries, investigations, and threatened legal actions and proceedings. Certain subsidiaries of the Corporation are registered broker/dealers or investment advisors and are subject to regulation by the SEC, the Financial Industry Regulatory Authority, the European Commission, the Prudential Regulatory Authority, the Financial Conduct Authority and other international, federal and state securities regulators. In connection with formal and informal inquiries by those agencies, such subsidiaries receive numerous requests, subpoenas and orders for documents, testimony and information in connection with various aspects of their regulated activities. | ||||||||||||||||||||
In view of the inherent difficulty of predicting the outcome of such litigation and regulatory matters, particularly where the claimants seek very large or indeterminate damages or where the matters present novel legal theories or involve a large number of parties, the Corporation generally cannot predict what the eventual outcome of the pending matters will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines or penalties related to each pending matter may be. | ||||||||||||||||||||
In accordance with applicable accounting guidance, the Corporation establishes an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Corporation does not establish an accrued liability. As a litigation or regulatory matter develops, the Corporation, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency related to a litigation or regulatory matter is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. Once the loss contingency related to a litigation or regulatory matter is deemed to be both probable and estimable, the Corporation will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. The Corporation continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Excluding expenses of internal or external legal service providers, litigation-related expense of $1.1 billion and $3.8 billion was recognized for the three and nine months ended September 30, 2013 compared to $1.6 billion and $3.3 billion for the same periods in 2012. | ||||||||||||||||||||
For a limited number of the matters disclosed in this Note, and in the prior commitments and contingencies disclosure, for which a loss is probable or reasonably possible in future periods, whether in excess of a related accrued liability or where there is no accrued liability, the Corporation is able to estimate a range of possible loss. In determining whether it is possible to provide an estimate of loss or range of possible loss, the Corporation reviews and evaluates its material litigation and regulatory matters on an ongoing basis, in conjunction with any outside counsel handling the matter, in light of potentially relevant factual and legal developments. These may include information learned through the discovery process, rulings on dispositive motions, settlement discussions, and other rulings by courts, arbitrators or others. In cases in which the Corporation possesses sufficient appropriate information to develop an estimate of loss or range of possible loss, that estimate is aggregated and disclosed below. There may be other disclosed matters for which a loss is probable or reasonably possible but such an estimate may not be possible. For those matters where an estimate is possible, management currently estimates the aggregate range of possible loss is $0 to $5.1 billion in excess of the accrued liability (if any) related to those matters. This estimated range of possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate, including as a result of the current and future governmental and regulatory environment. Those matters for which an estimate is not possible are not included within this estimated range. Therefore, this estimated range of possible loss represents what the Corporation believes to be an estimate of possible loss only for certain matters meeting these criteria. It does not represent the Corporation's maximum loss exposure. Information is provided below, or in the prior commitments and contingencies disclosure, regarding the nature of all of these contingencies and, where specified, the amount of the claim associated with these loss contingencies. Based on current knowledge, management does not believe that loss contingencies arising from pending matters, including the matters described herein, and in the prior commitments and contingencies disclosure, will have a material adverse effect on the consolidated financial position or liquidity of the Corporation. However, in light of the inherent uncertainties involved in these matters, some of which are beyond the Corporation's control, and the very large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to the Corporation's results of operations or cash flows for any particular reporting period. | ||||||||||||||||||||
FIRREA and False Claims Act Litigation | ||||||||||||||||||||
In the O’Donnell action, trial began on September 24, 2013. On October 23, 2013, a verdict of liability was returned against Countrywide Home Loans, Inc., Countrywide Bank, FSB and BANA. The Court may impose civil monetary penalties as early as December 2013. The Corporation is currently considering its options for appeal. | ||||||||||||||||||||
Fontainebleau Las Vegas Litigation | ||||||||||||||||||||
On August 30, 2013, the U.S. District Court for the Southern District of Florida entered an order requesting that the U.S. Judicial Panel on Multidistrict Litigation (JPML) remand the disbursement agent claims in the Avenue Action back to the District of Nevada. On September 4, 2013, the JPML issued a conditional remand order (CRO) to remand the Avenue Action back to the District of Nevada. BANA filed a motion to vacate the CRO on September 26, 2013. | ||||||||||||||||||||
Interchange and Related Litigation | ||||||||||||||||||||
On August 16, 2013, the Corporation entered into an agreement to settle the Canadian interchange class actions for an amount not material to the Corporation’s results of operations. The settlement is subject to court approval in five provinces. | ||||||||||||||||||||
Mortgage-backed Securities Litigation | ||||||||||||||||||||
Civil RMBS Matter Filed by the DOJ and the SEC | ||||||||||||||||||||
On August 6, 2013, the DOJ and the SEC filed civil actions in the U.S. District Court for the Western District of North Carolina against Merrill Lynch, Pierce, Fenner & Smith (MLPF&S), BANA and Banc of America Mortgage Securities, Inc. (and, in the DOJ case, the Corporation). Both cases allege generally that the offering materials for a single 2008 RMBS offering contained material misstatements and omissions regarding, inter alia, the concentration of loans originated in the wholesale loan channel. The DOJ case asserts violations of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and the SEC case asserts claims under Sections 17(a)(2) and (3) and Section 5(b)(1) of the Securities Act of 1933. The complaints demand unspecified damages and other relief. Defendants have until November 8, 2013 to answer or move to dismiss the complaints. | ||||||||||||||||||||
Luther Litigation and Related Actions | ||||||||||||||||||||
On August 8, 2013, the Multidistrict Litigation Court preliminarily approved the settlement of the Maine State, David H. Luther and Western Conference of Teamsters actions. The settlement provides, among other things, that all claims that have been asserted in any putative class action against Countrywide concerning Countrywide-issued MBS will be released and discharged upon final court approval of the settlement. | ||||||||||||||||||||
Regulatory Investigations | ||||||||||||||||||||
The Corporation has received a number of subpoenas and other requests for information from regulators and governmental authorities regarding MBS and other mortgage-related matters, including inquiries, investigations and potential proceedings related to a number of transactions involving the underwriting and issuance of MBS by the Corporation (including legacy entities the Corporation acquired) and participation in certain CDO offerings. These inquiries and investigations include, among others, an investigation by the SEC related to risk control, valuation, structuring, marketing and purchase of CDOs by MLPF&S, and investigations by the RMBS Working Group of the Financial Fraud Enforcement Task Force, including the DOJ, the SEC, the New York Attorney General (the NYAG) and the California Attorney General, concerning the purchase, securitization and underwriting of mortgage loans and RMBS. The Corporation has provided documents and testimony, and continues to cooperate fully with these inquiries and investigations. | ||||||||||||||||||||
The staff of the NYAG has advised that they intend to recommend filing an action against MLPF&S as a result of their RMBS investigation. In addition, the staff of a U.S. Attorney’s office recently advised that they intend to recommend that the DOJ file a civil action against affiliates of the Corporation related to the securitization of RMBS. | ||||||||||||||||||||
Mortgage Repurchase Litigation | ||||||||||||||||||||
Policemen's Annuity and Related Litigation | ||||||||||||||||||||
On August 23, 2013, the Vermont Pension Investment Committee and the Washington State Investment Board brought a new putative class action in the U.S. District Court for the Southern District of New York entitled Vermont Pension Investment Committee and the Washington State Investment Board v. Bank of America, N.A. and U.S. Bank National Association (Vermont Pension). The Vermont Pension action is based on similar factual allegations and the same claims and legal theories as the Policemen’s Annuity action, but concerns six different RMBS trusts collateralized by Washington Mutual-originated mortgages for which BANA is the former trustee and U.S. Bank is the current trustee. As in Policemen’s Annuity, plaintiffs seek unspecified compensatory damages and/or equitable relief, and costs and expenses. The case was marked as related to Policemen’s Annuity and assigned to the same judge, who ordered the two cases coordinated for pre-trial purposes. | ||||||||||||||||||||
Ocala Litigation | ||||||||||||||||||||
FDIC Action | ||||||||||||||||||||
On August 26, 2013, the U.S. District Court for the District of Columbia granted the FDIC’s motion to dismiss BANA’s claims against the FDIC in its capacity as receiver for Colonial Bank. The court ruled that the order of judgment would be held in abeyance pending resolution of BANA’s challenge filed on July 22, 2013 to the FDIC’s No Value Determination. |
Shareholders_Equity
Shareholders' Equity | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Stockholders' Equity Note [Abstract] | ||||||||
Shareholders' Equity | ||||||||
NOTE 12 – Shareholders' Equity | ||||||||
Common Stock | ||||||||
The table below presents the declared quarterly cash dividends on common stock during 2013 and through October 30, 2013. | ||||||||
Declaration Date | Record Date | Payment Date | Dividend Per Share | |||||
24-Oct-13 | 6-Dec-13 | 27-Dec-13 | $ | 0.01 | ||||
24-Jul-13 | 6-Sep-13 | 27-Sep-13 | 0.01 | |||||
30-Apr-13 | 7-Jun-13 | 28-Jun-13 | 0.01 | |||||
23-Jan-13 | 1-Mar-13 | 22-Mar-13 | 0.01 | |||||
On March 14, 2013, the Corporation announced that its Board of Directors authorized the repurchase of up to $5.0 billion of common stock. The timing and amount of common stock repurchases have been and will continue to be consistent with the Corporation's 2013 capital plan and will be subject to various factors, including the Corporation's capital position, liquidity, applicable legal considerations, financial performance and alternative uses of capital, stock trading price, and general market conditions, and may be suspended at any time. The remaining common stock repurchases may be effected through open market purchases or privately negotiated transactions, including repurchase plans that satisfy the conditions of Rule 10b5-1 of the Securities Exchange Act of 1934. | ||||||||
During the three and nine months ended September 30, 2013, the Corporation repurchased and retired 60.0 million and 139.6 million shares of common stock, which reduced shareholders' equity by $866 million and $1.9 billion. | ||||||||
During the nine months ended September 30, 2013, in connection with employee stock plans, the Corporation issued approximately 73 million shares and repurchased approximately 28 million shares of its common stock to satisfy tax withholding obligations. At September 30, 2013, the Corporation had reserved 1.8 billion unissued shares of common stock for future issuances under employee stock plans, common stock warrants, convertible notes and preferred stock. | ||||||||
Preferred Stock | ||||||||
During the three months ended March 31, 2013, June 30, 2013 and September 30, 2013, the cash dividends declared on preferred stock were $373 million, $365 million and $255 million for a total of $993 million for the nine months ended September 30, 2013. | ||||||||
During the nine months ended September 30, 2013, the Corporation redeemed for $6.6 billion its Non-Cumulative Preferred Stock, Series H, J, 6, 7 and 8. The $100 million difference between the carrying value of $6.5 billion and the redemption price of the preferred stock was recorded as a preferred stock dividend. In addition, the Corporation issued $1.0 billion of its Fixed-to-Floating Rate Semi-annual Non-Cumulative Preferred Stock, Series U. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||
NOTE 13 – Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||
The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
(Dollars in millions) | Available-for-sale Debt Securities | Available-for-sale | Derivatives | Employee | Foreign | Total | ||||||||||||||||||
Marketable | Benefit Plans (1) | Currency (2) | ||||||||||||||||||||||
Equity Securities | ||||||||||||||||||||||||
Balance, December 31, 2011 | $ | 3,100 | $ | 3 | $ | (3,785 | ) | $ | (4,391 | ) | $ | (364 | ) | $ | (5,437 | ) | ||||||||
Net change | 2,645 | 326 | 535 | 1,106 | 14 | 4,626 | ||||||||||||||||||
Balance, September 30, 2012 | $ | 5,745 | $ | 329 | $ | (3,250 | ) | $ | (3,285 | ) | $ | (350 | ) | $ | (811 | ) | ||||||||
Balance, December 31, 2012 | $ | 4,443 | $ | 462 | $ | (2,869 | ) | $ | (4,456 | ) | $ | (377 | ) | $ | (2,797 | ) | ||||||||
Net change | (5,303 | ) | (467 | ) | 365 | 1,513 | (134 | ) | (4,026 | ) | ||||||||||||||
Balance, September 30, 2013 | $ | (860 | ) | $ | (5 | ) | $ | (2,504 | ) | $ | (2,943 | ) | $ | (511 | ) | $ | (6,823 | ) | ||||||
(1) | During the three months ended September 30, 2013, the Corporation merged certain pension plans into one plan. For additional information, see Note 15 – Pension, Postretirement and Certain Compensation Plans. | |||||||||||||||||||||||
(2) | Net change in fair value represents the impact of changes in spot foreign exchange rates on the Corporation's net investment in non-U.S. operations and related hedges. | |||||||||||||||||||||||
The table below presents the net change in fair value recorded in accumulated OCI and realized net gains and losses reclassified into earnings for each component of OCI before- and after-tax for the nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
Changes in OCI Components Before- and After-tax | ||||||||||||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(Dollars in millions) | Before-tax | Tax effect | After-tax | Before-tax | Tax effect | After-tax | ||||||||||||||||||
Available-for-sale debt securities: | ||||||||||||||||||||||||
Net change in fair value | $ | (7,573 | ) | $ | 2,813 | $ | (4,760 | ) | $ | 5,576 | $ | (2,024 | ) | $ | 3,552 | |||||||||
Net realized gains reclassified into earnings | (861 | ) | 318 | (543 | ) | (1,439 | ) | 532 | (907 | ) | ||||||||||||||
Net change | (8,434 | ) | 3,131 | (5,303 | ) | 4,137 | (1,492 | ) | 2,645 | |||||||||||||||
Available-for-sale marketable equity securities: | ||||||||||||||||||||||||
Net change in fair value | 28 | (10 | ) | 18 | 542 | (200 | ) | 342 | ||||||||||||||||
Net realized gains reclassified into earnings | (765 | ) | 280 | (485 | ) | (25 | ) | 9 | (16 | ) | ||||||||||||||
Net change | (737 | ) | 270 | (467 | ) | 517 | (191 | ) | 326 | |||||||||||||||
Derivatives: | ||||||||||||||||||||||||
Net change in fair value | (3 | ) | — | (3 | ) | 123 | (46 | ) | 77 | |||||||||||||||
Net realized losses reclassified into earnings | 584 | (216 | ) | 368 | 726 | (268 | ) | 458 | ||||||||||||||||
Net change | 581 | (216 | ) | 365 | 849 | (314 | ) | 535 | ||||||||||||||||
Employee benefit plans: | ||||||||||||||||||||||||
Net change in fair value related to pension plan remeasurement | 2,138 | (795 | ) | 1,343 | — | — | — | |||||||||||||||||
Net realized losses reclassified into earnings | 204 | (68 | ) | 136 | 371 | (135 | ) | 236 | ||||||||||||||||
Settlements and curtailments | 46 | (12 | ) | 34 | 1,381 | (511 | ) | 870 | ||||||||||||||||
Net change | 2,388 | (875 | ) | 1,513 | 1,752 | (646 | ) | 1,106 | ||||||||||||||||
Foreign currency: | ||||||||||||||||||||||||
Net change in fair value | 214 | (347 | ) | (133 | ) | (340 | ) | 354 | 14 | |||||||||||||||
Net realized (gains) losses reclassified into earnings | 31 | (32 | ) | (1 | ) | 2 | (2 | ) | — | |||||||||||||||
Net change | 245 | (379 | ) | (134 | ) | (338 | ) | 352 | 14 | |||||||||||||||
Total other comprehensive income (loss) | $ | (5,957 | ) | $ | 1,931 | $ | (4,026 | ) | $ | 6,917 | $ | (2,291 | ) | $ | 4,626 | |||||||||
The table below presents impacts on net income of significant amounts reclassified out of each component of accumulated OCI before- and after-tax for the nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
Reclassifications Out of Accumulated OCI | ||||||||||||||||||||||||
(Dollars in millions) | Nine Months Ended September 30 | |||||||||||||||||||||||
Accumulated OCI Components | Income Statement Line Item | 2013 | 2012 | |||||||||||||||||||||
Available-for-sale debt securities: | ||||||||||||||||||||||||
Gain on sale of debt securities | $ | 881 | $ | 1,491 | ||||||||||||||||||||
Other-than-temporary impairment | (20 | ) | (52 | ) | ||||||||||||||||||||
Income before income taxes | 861 | 1,439 | ||||||||||||||||||||||
Income tax expense | 318 | 532 | ||||||||||||||||||||||
Net income | 543 | 907 | ||||||||||||||||||||||
Available-for-sale marketable equity securities: | ||||||||||||||||||||||||
Equity investment income | 765 | 25 | ||||||||||||||||||||||
Income before income taxes | 765 | 25 | ||||||||||||||||||||||
Income tax expense | 280 | 9 | ||||||||||||||||||||||
Net income | 485 | 16 | ||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||
Interest rate contracts | Net interest income | (818 | ) | (637 | ) | |||||||||||||||||||
Commodity contracts | Trading account profits | (1 | ) | — | ||||||||||||||||||||
Interest rate contracts | Other income | 18 | — | |||||||||||||||||||||
Equity compensation contracts | Personnel | 217 | (89 | ) | ||||||||||||||||||||
Loss before income taxes | (584 | ) | (726 | ) | ||||||||||||||||||||
Income tax benefit | (216 | ) | (268 | ) | ||||||||||||||||||||
Net loss | (368 | ) | (458 | ) | ||||||||||||||||||||
Employee benefit plans: | ||||||||||||||||||||||||
Prior service cost | Personnel | (3 | ) | (9 | ) | |||||||||||||||||||
Transition obligation | Personnel | — | (31 | ) | ||||||||||||||||||||
Net actuarial losses | Personnel | (199 | ) | (329 | ) | |||||||||||||||||||
Settlements and curtailments | Personnel | (2 | ) | (62 | ) | |||||||||||||||||||
Loss before income taxes | (204 | ) | (431 | ) | ||||||||||||||||||||
Income tax benefit | (68 | ) | (157 | ) | ||||||||||||||||||||
Net loss | (136 | ) | (274 | ) | ||||||||||||||||||||
Foreign currency: | ||||||||||||||||||||||||
Insignificant items | Other loss | (31 | ) | (2 | ) | |||||||||||||||||||
Loss before income taxes | (31 | ) | (2 | ) | ||||||||||||||||||||
Income tax benefit | (32 | ) | (2 | ) | ||||||||||||||||||||
Net income | 1 | — | ||||||||||||||||||||||
Total reclassification adjustments | $ | 525 | $ | 191 | ||||||||||||||||||||
Earnings_Per_Common_Share
Earnings Per Common Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Earnings Per Common Share | ||||||||||||||||
NOTE 14 – Earnings Per Common Share | ||||||||||||||||
The calculation of earnings per common share (EPS) and diluted EPS for the three and nine months ended September 30, 2013 and 2012 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||
(Dollars in millions, except per share information; shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Earnings per common share | ||||||||||||||||
Net income | $ | 2,497 | $ | 340 | $ | 7,992 | $ | 3,456 | ||||||||
Preferred stock dividends | (279 | ) | (373 | ) | (1,093 | ) | (1,063 | ) | ||||||||
Net income (loss) applicable to common shareholders | $ | 2,218 | $ | (33 | ) | $ | 6,899 | $ | 2,393 | |||||||
Dividends and undistributed earnings allocated to participating securities | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Net income (loss) allocated to common shareholders | $ | 2,217 | $ | (33 | ) | $ | 6,897 | $ | 2,391 | |||||||
Average common shares issued and outstanding | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 | ||||||||||||
Earnings per common share | $ | 0.21 | $ | 0 | $ | 0.64 | $ | 0.22 | ||||||||
Diluted earnings per common share | ||||||||||||||||
Net income (loss) applicable to common shareholders | $ | 2,218 | $ | (33 | ) | $ | 6,899 | $ | 2,393 | |||||||
Add preferred stock dividends due to assumed conversions | 75 | — | 225 | — | ||||||||||||
Dividends and undistributed earnings allocated to participating securities | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Net income (loss) allocated to common shareholders | $ | 2,292 | $ | (33 | ) | $ | 7,122 | $ | 2,391 | |||||||
Average common shares issued and outstanding | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 | ||||||||||||
Dilutive potential common shares (1) | 763,308 | — | 759,433 | 91,042 | ||||||||||||
Total diluted average common shares issued and outstanding | 11,482,226 | 10,776,173 | 11,523,649 | 10,826,503 | ||||||||||||
Diluted earnings per common share | $ | 0.2 | $ | 0 | $ | 0.62 | $ | 0.22 | ||||||||
(1) | Includes incremental shares from restricted stock units, restricted stock, stock options and warrants. | |||||||||||||||
The Corporation previously issued a warrant to purchase 700 million shares of the Corporation's common stock to the holder of the Corporation's 6% Cumulative Perpetual Preferred Stock, Series T (the Series T Preferred Stock). The warrant may be exercised, at the option of the holder, through tendering the Series T Preferred Stock or paying cash. For both the three and nine months ended September 30, 2013, 700 million average dilutive potential common shares associated with the Series T Preferred Stock were included in the diluted share count under the "if-converted" method. For the same periods in 2012, they were not included in the diluted share count because the result would have been antidilutive under the "if-converted" method. | ||||||||||||||||
For both the three and nine months ended September 30, 2013 and 2012, 62 million average dilutive potential common shares associated with the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L were not included in the diluted share count because the result would have been antidilutive under the "if-converted" method. For the three and nine months ended September 30, 2013, average options to purchase 123 million and 127 million shares of common stock were outstanding but not included in the computation of EPS because the result would have been antidilutive under the treasury stock method compared to 159 million and 166 million for the same periods in 2012. For the three and nine months ended September 30, 2013, average warrants to purchase 263 million and 272 million shares of common stock were outstanding but not included in the computation of EPS because the result would have been antidilutive under the treasury stock method compared to 272 million for the same periods in 2012. |
Pension_and_Postretirement_Pla
Pension and Postretirement Plans | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||
Pension and Postretirement plans | ||||||||||||||||
NOTE 15 – Pension, Postretirement and Certain Compensation Plans | ||||||||||||||||
Pension and Postretirement Plans | ||||||||||||||||
The Corporation sponsors noncontributory trusteed pension plans, a number of noncontributory nonqualified pension plans, and postretirement health and life plans that cover eligible employees. During the three months ended September 30, 2013, the Corporation merged a defined benefit pension plan, which covered eligible employees of certain legacy companies, into the Bank of America Pension Plan. This plan is referred to as the Qualified Pension Plan (Qualified Pension Plans prior to this merger). The benefit structures of the merged plans did not change and there was no impact to plan participants. The merger of the pension plans required a remeasurement, which was accelerated from the required December 31 remeasurement, of the qualified pension obligations and plan assets at fair value as of the merger date that resulted in an increase in accumulated OCI of $1.4 billion, net-of-tax. Under pension plan accounting guidance, pension assets and obligations are required to be measured again at December 31. Effective June 30, 2012, the benefits earned in the Qualified Pension Plans were frozen. For more information on these plans, see Note 18 – Employee Benefit Plans to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||
Net periodic benefit cost of the Corporation's plans for the three and nine months ended September 30, 2013 and 2012 included the following components. | ||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Qualified Pension Plan | Non-U.S. Pension Plans | Nonqualified and Other Pension Plans (1) | Postretirement | ||||||||||||
Health and Life | ||||||||||||||||
Plans | ||||||||||||||||
Service cost | $ | — | $ | 8 | $ | — | $ | 1 | ||||||||
Interest cost | 157 | 26 | 30 | 13 | ||||||||||||
Expected return on plan assets | (258 | ) | (31 | ) | (27 | ) | (2 | ) | ||||||||
Amortization of prior service cost | — | — | — | 1 | ||||||||||||
Amortization of net actuarial loss (gain) | 63 | 1 | 7 | (16 | ) | |||||||||||
Recognized loss due to settlements and curtailments | — | — | 2 | — | ||||||||||||
Net periodic benefit cost (income) | $ | (38 | ) | $ | 4 | $ | 12 | $ | (3 | ) | ||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Service cost | $ | 5 | $ | 10 | $ | — | $ | 3 | ||||||||
Interest cost | 170 | 25 | 34 | 19 | ||||||||||||
Expected return on plan assets | (313 | ) | (36 | ) | (38 | ) | (3 | ) | ||||||||
Amortization of transition obligation | — | — | — | 15 | ||||||||||||
Amortization of prior service cost | — | — | — | 2 | ||||||||||||
Amortization of net actuarial loss (gain) | 116 | (2 | ) | 2 | (21 | ) | ||||||||||
Net periodic benefit cost (income) | $ | (22 | ) | $ | (3 | ) | $ | (2 | ) | $ | 15 | |||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Service cost | $ | — | $ | 25 | $ | 1 | $ | 8 | ||||||||
Interest cost | 459 | 76 | 89 | 41 | ||||||||||||
Expected return on plan assets | (763 | ) | (94 | ) | (82 | ) | (4 | ) | ||||||||
Amortization of prior service cost | — | — | — | 3 | ||||||||||||
Amortization of net actuarial loss (gain) | 204 | 2 | 19 | (26 | ) | |||||||||||
Recognized loss (gain) due to settlements and curtailments | 17 | (7 | ) | 2 | — | |||||||||||
Net periodic benefit cost (income) | $ | (83 | ) | $ | 2 | $ | 29 | $ | 22 | |||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Service cost | $ | 236 | $ | 30 | $ | — | $ | 10 | ||||||||
Interest cost | 511 | 74 | 104 | 55 | ||||||||||||
Expected return on plan assets | (934 | ) | (105 | ) | (114 | ) | (6 | ) | ||||||||
Amortization of transition obligation | — | — | — | 31 | ||||||||||||
Amortization of prior service cost (credits) | 9 | — | (4 | ) | 4 | |||||||||||
Amortization of net actuarial loss (gain) | 354 | (6 | ) | 7 | (31 | ) | ||||||||||
Recognized loss due to settlements and curtailments | 58 | — | 4 | — | ||||||||||||
Net periodic benefit cost (income) | $ | 234 | $ | (7 | ) | $ | (3 | ) | $ | 63 | ||||||
(1) | Includes nonqualified pension plans and the terminated Merrill Lynch U.S. pension plan. | |||||||||||||||
The Corporation's best estimate of its contributions to be made to the Non-U.S. Pension Plans, Nonqualified and Other Pension Plans, and Postretirement Health and Life Plans in 2013 is $123 million, $103 million and $107 million, respectively. For the nine months ended September 30, 2013, the Corporation contributed $112 million, $78 million and $81 million, respectively, to these plans. The Corporation has not made and does not expect to make a contribution to the Qualified Pension Plan in 2013. | ||||||||||||||||
Certain Compensation Plans | ||||||||||||||||
During the nine months ended September 30, 2013, the Corporation granted 183 million restricted stock unit (RSU) awards to certain employees under the Key Associate Stock Plan. Generally, one-third of the RSUs vest on each of the first three anniversaries of the grant date provided that the employee remains continuously employed with the Corporation during that time. Except for two million RSUs that are authorized to settle in shares of common stock of the Corporation, the RSUs will be paid in cash to the employees on the vesting date based on the fair value of the Corporation's common stock as of the vesting date. The RSUs are expensed ratably over the vesting period, net of estimated forfeitures, for non-retirement eligible employees based upon the fair value of the Corporation's common stock on the accrual date. For RSUs granted to employees who are retirement eligible or will become retirement eligible during the vesting period, the RSUs are expensed as of the grant date or ratably over the period from the grant date to the date the employee becomes retirement eligible, net of estimated forfeitures. The accrued liability for the RSUs is adjusted to fair value based on changes in the fair value of the Corporation's common stock. The Corporation enters into cash-settled equity derivatives for a significant portion of the RSUs to minimize the change in expense driven by fluctuations in the fair value of the RSUs over the applicable vesting period. For additional information, see Note 19 – Stock-based Compensation Plans to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||
NOTE 16 – Fair Value Measurements | |||||||||||||||||||||||||||||||
Under applicable accounting guidance, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Corporation determines the fair values of its financial instruments based on the fair value hierarchy established under applicable accounting guidance which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs used to measure fair value. The Corporation conducts a review of its fair value hierarchy classifications on a quarterly basis. Transfers into or out of fair value hierarchy classifications are made if the significant inputs used in the financial models measuring the fair values of the assets and liabilities became unobservable or observable, respectively, in the current marketplace. These transfers are considered to be effective as of the beginning of the quarter in which they occur. For more information regarding the fair value hierarchy and how the Corporation measures fair value, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The Corporation accounts for certain financial instruments under the fair value option. For additional information, see Note 17 – Fair Value Option. | |||||||||||||||||||||||||||||||
Valuation Processes and Techniques | |||||||||||||||||||||||||||||||
The Corporation has various processes and controls in place to ensure that fair value is reasonably estimated. A model validation policy governs the use and control of valuation models used to estimate fair value. This policy requires review and approval of models by personnel who are independent of the front office, and periodic reassessments of models to ensure that they are continuing to perform as designed. In addition, detailed reviews of trading gains and losses are conducted on a daily basis by personnel who are independent of the front office. A price verification group, which is also independent of the front office, utilizes available market information including executed trades, market prices and market-observable valuation model inputs to ensure that fair values are reasonably estimated. The Corporation performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. Where market information is not available to support internal valuations, independent reviews of the valuations are performed and any material exposures are escalated through a management review process. | |||||||||||||||||||||||||||||||
While the Corporation believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. | |||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, there were no changes to the valuation techniques that had, or are expected to have, a material impact on the Corporation's consolidated financial position or results of operations. | |||||||||||||||||||||||||||||||
Level 1, 2 and 3 Valuation Techniques | |||||||||||||||||||||||||||||||
Financial instruments are considered Level 1 when the valuation is based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instruments are valued using quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or models using inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Financial instruments are considered Level 3 when their values are determined using pricing models, discounted cash flow methodologies or similar techniques, and at least one significant model assumption or input is unobservable and when determination of the fair value requires significant management judgment or estimation. | |||||||||||||||||||||||||||||||
Trading Account Assets and Liabilities and Debt Securities | |||||||||||||||||||||||||||||||
The fair values of trading account assets and liabilities are primarily based on actively traded markets where prices are based on either direct market quotes or observed transactions. The fair values of debt securities are generally based on quoted market prices or market prices for similar assets. Liquidity is a significant factor in the determination of the fair values of trading account assets and liabilities and debt securities. Market price quotes may not be readily available for some positions, or positions within a market sector where trading activity has slowed significantly or ceased. Some of these instruments are valued using a discounted cash flow model, which estimates the fair value of the securities using internal credit risk, interest rate and prepayment risk models that incorporate management's best estimate of current key assumptions such as default rates, loss severity and prepayment rates. Principal and interest cash flows are discounted using an observable discount rate for similar instruments with adjustments that management believes a market participant would consider in determining fair value for the specific security. Other instruments are valued using a net asset value approach which considers the value of the underlying securities. Underlying assets are valued using external pricing services, where available, or matrix pricing based on the vintages and ratings. Situations of illiquidity generally are triggered by the market's perception of credit uncertainty regarding a single company or a specific market sector. In these instances, fair value is determined based on limited available market information and other factors, principally from reviewing the issuer's financial statements and changes in credit ratings made by one or more rating agencies. | |||||||||||||||||||||||||||||||
Derivative Assets and Liabilities | |||||||||||||||||||||||||||||||
The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that utilize multiple market inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. When third-party pricing services are used, the methods and assumptions used are reviewed by the Corporation. Estimation risk is greater for derivative asset and liability positions that are either option-based or have longer maturity dates where observable market inputs are less readily available, or are unobservable, in which case, quantitative-based extrapolations of rate, price or index scenarios are used in determining fair values. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality and other instrument-specific factors, where appropriate. In addition, the Corporation incorporates within its fair value measurements of OTC derivatives a valuation adjustment to reflect the credit risk associated with the net position. Positions are netted by counterparty, and fair value for net long exposures is adjusted for counterparty credit risk while the fair value for net short exposures is adjusted for the Corporation's own credit risk. An estimate of severity of loss is also used in the determination of fair value, primarily based on market data. | |||||||||||||||||||||||||||||||
Loans and Loan Commitments | |||||||||||||||||||||||||||||||
The fair values of loans and loan commitments are based on market prices, where available, or discounted cash flow analyses using market-based credit spreads of comparable debt instruments or credit derivatives of the specific borrower or comparable borrowers. Results of discounted cash flow calculations may be adjusted, as appropriate, to reflect other market conditions or the perceived credit risk of the borrower. | |||||||||||||||||||||||||||||||
Mortgage Servicing Rights | |||||||||||||||||||||||||||||||
The fair values of MSRs are determined using models that rely on estimates of prepayment rates, the resultant weighted-average lives of the MSRs and the option-adjusted spread (OAS) levels. For more information on MSRs, see Note 19 – Mortgage Servicing Rights. | |||||||||||||||||||||||||||||||
Loans Held-for-sale | |||||||||||||||||||||||||||||||
The fair values of LHFS are based on quoted market prices, where available, or are determined by discounting estimated cash flows using interest rates approximating the Corporation's current origination rates for similar loans adjusted to reflect the inherent credit risk. | |||||||||||||||||||||||||||||||
Private Equity Investments | |||||||||||||||||||||||||||||||
Private equity investments consist of direct investments and fund investments which are initially valued at their transaction price. Thereafter, the fair value of direct investments is based on an assessment of each individual investment using methodologies that include publicly-traded comparables derived by multiplying a key performance metric (e.g., earnings before interest, taxes, depreciation and amortization) of the portfolio company by the relevant valuation multiple observed for comparable companies, acquisition comparables, entry level multiples and discounted cash flow analyses, and are subject to appropriate discounts for lack of liquidity or marketability. After initial recognition, the fair value of fund investments is based on the Corporation's proportionate interest in the fund's capital as reported by the respective fund managers. | |||||||||||||||||||||||||||||||
Securities Financing Agreements | |||||||||||||||||||||||||||||||
The fair values of certain reverse repurchase agreements, repurchase agreements and securities borrowed transactions are determined using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate continuous yield or pricing curves, and volatility factors. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. | |||||||||||||||||||||||||||||||
Deposits and Short-term Borrowings | |||||||||||||||||||||||||||||||
The fair values of deposits and short-term borrowings are determined using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate continuous yield or pricing curves, and volatility factors. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. The Corporation considers the impact of its own credit spreads in the valuation of these liabilities. The credit risk is determined by reference to observable credit spreads in the secondary cash market. | |||||||||||||||||||||||||||||||
Long-term Debt | |||||||||||||||||||||||||||||||
The Corporation issues structured liabilities that have coupons or repayment terms linked to the performance of debt or equity securities, indices, currencies or commodities. The fair values of these structured liabilities are estimated using quantitative models for the combined derivative and debt portions of the notes. These models incorporate observable and, in some instances, unobservable inputs including security prices, interest rate yield curves, option volatility, currency, commodity or equity rates and correlations between these inputs. The Corporation also considers the impact of its own credit spreads in determining the discount rate used to value these liabilities. The credit spread is determined by reference to observable spreads in the secondary bond market. | |||||||||||||||||||||||||||||||
Asset-backed Secured Financings | |||||||||||||||||||||||||||||||
The fair values of asset-backed secured financings are based on external broker bids, where available, or are determined by discounting estimated cash flows using interest rates approximating the Corporation's current origination rates for similar loans adjusted to reflect the inherent credit risk. | |||||||||||||||||||||||||||||||
Recurring Fair Value | |||||||||||||||||||||||||||||||
Assets and liabilities carried at fair value on a recurring basis at September 30, 2013 and December 31, 2012, including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables. | |||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 (1) | Level 2 (1) | Level 3 | Netting | Assets/Liabilities | ||||||||||||||||||||||||||
Adjustments (2) | at Fair Value | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $ | — | $ | 102,899 | $ | — | $ | — | $ | 102,899 | |||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 46,478 | 12,772 | — | — | 59,250 | ||||||||||||||||||||||||||
Corporate securities, trading loans and other | 974 | 29,513 | 3,780 | — | 34,267 | ||||||||||||||||||||||||||
Equity securities | 31,911 | 16,051 | 338 | — | 48,300 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 32,134 | 11,603 | 388 | — | 44,125 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 10,744 | 4,520 | — | 15,264 | ||||||||||||||||||||||||||
Total trading account assets | 111,497 | 80,683 | 9,026 | — | 201,206 | ||||||||||||||||||||||||||
Derivative assets (3) | 4,329 | 977,921 | 7,527 | (936,616 | ) | 53,161 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 514 | 2,457 | — | — | 2,971 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 169,025 | — | — | 169,025 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 27,335 | — | — | 27,335 | ||||||||||||||||||||||||||
Non-agency residential | — | 6,929 | — | — | 6,929 | ||||||||||||||||||||||||||
Commercial | — | 2,827 | — | — | 2,827 | ||||||||||||||||||||||||||
Non-U.S. securities | 2,467 | 3,668 | 105 | — | 6,240 | ||||||||||||||||||||||||||
Corporate/Agency bonds | — | 1,162 | 8 | — | 1,170 | ||||||||||||||||||||||||||
Other taxable securities | 20 | 9,132 | 4,013 | — | 13,165 | ||||||||||||||||||||||||||
Tax-exempt securities | — | 4,417 | 817 | — | 5,234 | ||||||||||||||||||||||||||
Total AFS debt securities | 3,001 | 226,952 | 4,943 | — | 234,896 | ||||||||||||||||||||||||||
Other debt securities carried at fair value: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 18,626 | — | — | 18,626 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 563 | — | — | 563 | ||||||||||||||||||||||||||
Commercial | — | 758 | — | — | 758 | ||||||||||||||||||||||||||
Non-U.S. securities | 9,740 | 1,766 | — | — | 11,506 | ||||||||||||||||||||||||||
Total other debt securities carried at fair value | 9,740 | 21,713 | — | — | 31,453 | ||||||||||||||||||||||||||
Loans and leases | — | 7,180 | 3,016 | — | 10,196 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 5,058 | — | 5,058 | ||||||||||||||||||||||||||
Loans held-for-sale | — | 7,304 | 913 | — | 8,217 | ||||||||||||||||||||||||||
Other assets | 14,009 | 2,317 | 1,878 | — | 18,204 | ||||||||||||||||||||||||||
Total assets | $ | 142,576 | $ | 1,426,969 | $ | 32,361 | $ | (936,616 | ) | $ | 665,290 | ||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Interest-bearing deposits in U.S. offices | $ | — | $ | 1,916 | $ | — | $ | — | $ | 1,916 | |||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | — | 61,917 | — | — | 61,917 | ||||||||||||||||||||||||||
Trading account liabilities: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 24,046 | 349 | — | — | 24,395 | ||||||||||||||||||||||||||
Equity securities | 23,256 | 3,604 | — | — | 26,860 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 22,119 | 1,502 | — | — | 23,621 | ||||||||||||||||||||||||||
Corporate securities and other | 529 | 7,259 | 49 | — | 7,837 | ||||||||||||||||||||||||||
Total trading account liabilities | 69,950 | 12,714 | 49 | — | 82,713 | ||||||||||||||||||||||||||
Derivative liabilities (3) | 5,167 | 962,675 | 6,759 | (930,033 | ) | 44,568 | |||||||||||||||||||||||||
Short-term borrowings | — | 2,844 | — | — | 2,844 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities | 8,627 | 964 | 31 | — | 9,622 | ||||||||||||||||||||||||||
Long-term debt | — | 45,338 | 2,063 | — | 47,401 | ||||||||||||||||||||||||||
Total liabilities | $ | 83,744 | $ | 1,088,368 | $ | 8,902 | $ | (930,033 | ) | $ | 250,981 | ||||||||||||||||||||
(1) | During the nine months ended September 30, 2013, $500 million of other assets were transferred from Level 1 to Level 2 primarily due to a restriction that became effective for a private equity investment. | ||||||||||||||||||||||||||||||
(2) | Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. | ||||||||||||||||||||||||||||||
(3) | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. | ||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 (1) | Level 2 (1) | Level 3 | Netting | Assets/Liabilities | ||||||||||||||||||||||||||
Adjustments (2) | at Fair Value | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $ | — | $ | 98,670 | $ | — | $ | — | $ | 98,670 | |||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 57,655 | 29,319 | — | — | 86,974 | ||||||||||||||||||||||||||
Corporate securities, trading loans and other | 1,292 | 32,882 | 3,726 | — | 37,900 | ||||||||||||||||||||||||||
Equity securities | 28,144 | 14,626 | 545 | — | 43,315 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 29,254 | 13,139 | 353 | — | 42,746 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 11,905 | 4,935 | — | 16,840 | ||||||||||||||||||||||||||
Total trading account assets | 116,345 | 101,871 | 9,559 | — | 227,775 | ||||||||||||||||||||||||||
Derivative assets (3) | 2,997 | 1,372,398 | 8,073 | (1,329,971 | ) | 53,497 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 21,514 | 2,958 | — | — | 24,472 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 188,149 | — | — | 188,149 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 37,538 | — | — | 37,538 | ||||||||||||||||||||||||||
Non-agency residential | — | 9,494 | — | — | 9,494 | ||||||||||||||||||||||||||
Non-agency commercial | — | 3,914 | 10 | — | 3,924 | ||||||||||||||||||||||||||
Non-U.S. securities | 2,637 | 2,981 | — | — | 5,618 | ||||||||||||||||||||||||||
Corporate/Agency bonds | — | 1,358 | 92 | — | 1,450 | ||||||||||||||||||||||||||
Other taxable securities | 20 | 8,180 | 3,928 | — | 12,128 | ||||||||||||||||||||||||||
Tax-exempt securities | — | 3,072 | 1,061 | — | 4,133 | ||||||||||||||||||||||||||
Total AFS debt securities | 24,171 | 257,644 | 5,091 | — | 286,906 | ||||||||||||||||||||||||||
Other debt securities carried at fair value: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 491 | — | — | — | 491 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 13,073 | — | — | 13,073 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 929 | — | — | 929 | ||||||||||||||||||||||||||
Non-U.S. securities | 9,151 | 300 | — | — | 9,451 | ||||||||||||||||||||||||||
Total other debt securities carried at fair value | 9,642 | 14,302 | — | — | 23,944 | ||||||||||||||||||||||||||
Loans and leases | — | 6,715 | 2,287 | — | 9,002 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 5,716 | — | 5,716 | ||||||||||||||||||||||||||
Loans held-for-sale | — | 8,926 | 2,733 | — | 11,659 | ||||||||||||||||||||||||||
Other assets | 18,535 | 4,826 | 3,129 | — | 26,490 | ||||||||||||||||||||||||||
Total assets | $ | 171,690 | $ | 1,865,352 | $ | 36,588 | $ | (1,329,971 | ) | $ | 743,659 | ||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Interest-bearing deposits in U.S. offices | $ | — | $ | 2,262 | $ | — | $ | — | $ | 2,262 | |||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | — | 42,639 | — | — | 42,639 | ||||||||||||||||||||||||||
Trading account liabilities: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 22,351 | 1,079 | — | — | 23,430 | ||||||||||||||||||||||||||
Equity securities | 19,852 | 2,640 | — | — | 22,492 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 18,875 | 1,369 | — | — | 20,244 | ||||||||||||||||||||||||||
Corporate securities and other | 487 | 6,870 | 64 | — | 7,421 | ||||||||||||||||||||||||||
Total trading account liabilities | 61,565 | 11,958 | 64 | — | 73,587 | ||||||||||||||||||||||||||
Derivative liabilities (3) | 2,859 | 1,355,309 | 6,605 | (1,318,757 | ) | 46,016 | |||||||||||||||||||||||||
Short-term borrowings | — | 4,074 | — | — | 4,074 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities | 15,457 | 1,122 | 15 | — | 16,594 | ||||||||||||||||||||||||||
Long-term debt | — | 46,860 | 2,301 | — | 49,161 | ||||||||||||||||||||||||||
Total liabilities | $ | 79,881 | $ | 1,464,224 | $ | 8,985 | $ | (1,318,757 | ) | $ | 234,333 | ||||||||||||||||||||
(1) | During 2012, $2.0 billion and $350 million of assets and liabilities were transferred from Level 1 to Level 2, and $785 million and $40 million of assets and liabilities were transferred from Level 2 to Level 1. Of the asset transfers from Level 1 to Level 2, $940 million was due to a restriction that became effective for a private equity investment during 2012, while $535 million of the transfers from Level 2 to Level 1 was due to the lapse of this restriction during 2012. The remaining transfers were the result of additional information associated with certain equities, derivative contracts and private equity investments. | ||||||||||||||||||||||||||||||
(2) | Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. | ||||||||||||||||||||||||||||||
(3) | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. | ||||||||||||||||||||||||||||||
The following tables present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2013 and 2012, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. | |||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jul | (Losses) in | (Losses) in | Transfers | Transfers | 2013 | ||||||||||||||||||||||||||
2013 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 2,763 | $ | 133 | $ | — | $ | 2,002 | $ | (892 | ) | $ | 22 | $ | (205 | ) | $ | 187 | $ | (230 | ) | $ | 3,780 | ||||||||
Equity securities | 464 | 4 | — | 20 | (16 | ) | — | (100 | ) | 8 | (42 | ) | 338 | ||||||||||||||||||
Non-U.S. sovereign debt | 401 | 11 | — | 3 | (14 | ) | — | (10 | ) | — | (3 | ) | 388 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,685 | (7 | ) | — | 350 | (443 | ) | — | (74 | ) | 13 | (4 | ) | 4,520 | |||||||||||||||||
Total trading account assets | 8,313 | 141 | — | 2,375 | (1,365 | ) | 22 | (389 | ) | 208 | (279 | ) | 9,026 | ||||||||||||||||||
Net derivative assets (2) | 1,173 | (499 | ) | — | 126 | (102 | ) | — | (147 | ) | 116 | 101 | 768 | ||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | 5 | — | — | — | — | — | 100 | — | 105 | |||||||||||||||||||||
Corporate/Agency bonds | 8 | — | — | — | — | — | — | — | — | 8 | |||||||||||||||||||||
Other taxable securities | 4,157 | 2 | (2 | ) | 215 | — | — | (359 | ) | — | — | 4,013 | |||||||||||||||||||
Tax-exempt securities | 877 | 2 | 1 | — | — | — | (63 | ) | — | — | 817 | ||||||||||||||||||||
Total AFS debt securities | 5,042 | 9 | (1 | ) | 215 | — | — | (422 | ) | 100 | — | 4,943 | |||||||||||||||||||
Loans and leases (3, 4) | 1,901 | (20 | ) | — | — | — | 1,247 | (119 | ) | 12 | (5 | ) | 3,016 | ||||||||||||||||||
Mortgage servicing rights (4) | 5,827 | 71 | — | — | (729 | ) | 129 | (240 | ) | — | — | 5,058 | |||||||||||||||||||
Loans held-for-sale (3) | 2,153 | 40 | — | — | — | 3 | (1,283 | ) | — | — | 913 | ||||||||||||||||||||
Other assets (5) | 1,700 | 3 | — | 1 | (35 | ) | — | (30 | ) | 239 | — | 1,878 | |||||||||||||||||||
Trading account liabilities – Corporate securities and other | (55 | ) | 1 | — | 6 | (9 | ) | — | — | — | 8 | (49 | ) | ||||||||||||||||||
Accrued expenses and other liabilities (3) | (230 | ) | 8 | — | — | — | — | 189 | — | 2 | (31 | ) | |||||||||||||||||||
Long-term debt (3) | (1,890 | ) | (62 | ) | — | 47 | — | (47 | ) | 46 | (485 | ) | 328 | (2,063 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of private equity investments. | ||||||||||||||||||||||||||||||
During the three months ended September 30, 2013, the transfers into Level 3 included $208 million of trading account assets, $116 million of net derivative assets, $100 million of AFS debt securities, $239 million of other assets and $485 million of long-term debt. Transfers into Level 3 for trading account assets were primarily the result of decreased third-party prices available for certain corporate loans. Transfers into Level 3 for net derivative assets were primarily due to decreased price observability (i.e., market comparables for the referenced instruments) for certain complex interest rate derivative transactions. Transfers into Level 3 for AFS debt securities were primarily due to decreased price observability. Transfers into Level 3 for other assets were primarily due to a lack of independent pricing data for certain receivables. Transfers into Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. Transfers occur on a regular basis for these long-term debt instruments due to changes in the impact of unobservable inputs on the value of the embedded derivative in relation to the instrument as a whole. | |||||||||||||||||||||||||||||||
During the three months ended September 30, 2013, the transfers out of Level 3 included $279 million of trading account assets, $101 million of net derivative assets and $328 million of long-term debt. Transfers out of Level 3 for trading account assets were primarily the result of increased market liquidity and third-party prices available for certain corporate loans and securities. Transfers out of Level 3 for net derivative assets were primarily due to increased price observability (i.e., market comparables for the referenced instruments) for certain options. Transfers out of Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. | |||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jul | (Losses) in | (Losses) in | Transfers | Transfers | 2012 | ||||||||||||||||||||||||||
2012 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 4,459 | $ | 69 | $ | — | $ | 750 | $ | (848 | ) | $ | — | $ | (101 | ) | $ | 158 | $ | (314 | ) | $ | 4,173 | ||||||||
Equity securities | 597 | 15 | — | 43 | (12 | ) | — | (9 | ) | 5 | (66 | ) | 573 | ||||||||||||||||||
Non-U.S. sovereign debt | 389 | 7 | — | 30 | (112 | ) | — | (4 | ) | — | (7 | ) | 303 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,818 | 111 | — | 380 | (279 | ) | — | (124 | ) | 3 | (3 | ) | 4,906 | ||||||||||||||||||
Total trading account assets | 10,263 | 202 | — | 1,203 | (1,251 | ) | — | (238 | ) | 166 | (390 | ) | 9,955 | ||||||||||||||||||
Net derivative assets (2) | 4,601 | (256 | ) | — | 78 | (211 | ) | — | (918 | ) | (350 | ) | 16 | 2,960 | |||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Non-agency residential | 1 | — | — | — | — | — | — | — | — | 1 | |||||||||||||||||||||
Non-agency commercial | 24 | — | — | — | — | — | (1 | ) | — | — | 23 | ||||||||||||||||||||
Corporate/Agency bonds | 93 | — | — | — | — | — | — | — | — | 93 | |||||||||||||||||||||
Other taxable securities | 4,558 | — | 28 | 600 | — | — | (65 | ) | — | — | 5,121 | ||||||||||||||||||||
Tax-exempt securities | 1,140 | 7 | (7 | ) | — | (63 | ) | — | (16 | ) | — | — | 1,061 | ||||||||||||||||||
Total AFS debt securities | 5,816 | 7 | 21 | 600 | (63 | ) | — | (82 | ) | — | — | 6,299 | |||||||||||||||||||
Loans and leases (3, 4) | 1,635 | 69 | — | 317 | (150 | ) | — | (65 | ) | 450 | (3 | ) | 2,253 | ||||||||||||||||||
Mortgage servicing rights (4) | 5,708 | (360 | ) | — | — | (15 | ) | 100 | (346 | ) | — | — | 5,087 | ||||||||||||||||||
Loans held-for-sale (3) | 2,741 | 86 | — | 596 | (19 | ) | — | (104 | ) | 13 | — | 3,313 | |||||||||||||||||||
Other assets (5) | 3,136 | 24 | — | 40 | (183 | ) | — | (39 | ) | — | — | 2,978 | |||||||||||||||||||
Trading account liabilities – Corporate securities and other | (143 | ) | 4 | — | 17 | (45 | ) | — | — | — | 2 | (165 | ) | ||||||||||||||||||
Short-term borrowings (3) | — | — | — | — | — | (232 | ) | — | — | — | (232 | ) | |||||||||||||||||||
Accrued expenses and other liabilities (3) | (2 | ) | — | — | — | — | (7 | ) | — | — | — | (9 | ) | ||||||||||||||||||
Long-term debt (3) | (2,388 | ) | (91 | ) | — | 70 | — | (115 | ) | 391 | (531 | ) | 374 | (2,290 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | ||||||||||||||||||||||||||||||
During the three months ended September 30, 2012, the transfers into Level 3 included $166 million of trading account assets, $350 million of net derivative assets, $450 million of loans and leases, and $531 million of long-term debt. Transfers into Level 3 for trading account assets primarily related to decreased market liquidity for certain corporate loans. Transfers into Level 3 for net derivative assets primarily related to decreased price observability for certain long-dated equity derivative liabilities due to a lack of independent pricing. Transfers into Level 3 for loans and leases were driven by updated information related to certain commercial loans. Transfers into Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. Transfers occur on a regular basis for these long-term debt instruments due to changes in the impact of unobservable inputs on the value of the embedded derivative in relation to the instrument as a whole. | |||||||||||||||||||||||||||||||
During the three months ended September 30, 2012, the transfers out of Level 3 included $390 million of trading account assets and $374 million of long-term debt. Transfers out of Level 3 for trading account assets primarily related to increased price observability for certain corporate loans due to improved liquidity in the secondary markets. Transfers out of Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. | |||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jan | (Losses) in | (Losses) in | Transfers | Transfers | 2013 | ||||||||||||||||||||||||||
2013 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 3,726 | $ | 256 | $ | — | $ | 3,519 | $ | (2,817 | ) | $ | 22 | $ | (444 | ) | $ | 629 | $ | (1,111 | ) | $ | 3,780 | ||||||||
Equity securities | 545 | 54 | — | 77 | (160 | ) | — | (100 | ) | 45 | (123 | ) | 338 | ||||||||||||||||||
Non-U.S. sovereign debt | 353 | 56 | — | 29 | (15 | ) | — | (32 | ) | 1 | (4 | ) | 388 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,935 | 165 | — | 1,981 | (1,777 | ) | — | (775 | ) | 18 | (27 | ) | 4,520 | ||||||||||||||||||
Total trading account assets | 9,559 | 531 | — | 5,606 | (4,769 | ) | 22 | (1,351 | ) | 693 | (1,265 | ) | 9,026 | ||||||||||||||||||
Net derivative assets (2) | 1,468 | 186 | — | 509 | (762 | ) | — | (1,190 | ) | (46 | ) | 603 | 768 | ||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Commercial MBS | 10 | — | — | — | — | — | (10 | ) | — | — | — | ||||||||||||||||||||
Non-U.S. securities | — | 5 | — | 1 | (1 | ) | — | — | 100 | — | 105 | ||||||||||||||||||||
Corporate/Agency bonds | 92 | — | 4 | — | — | — | — | — | (88 | ) | 8 | ||||||||||||||||||||
Other taxable securities | 3,928 | 5 | 10 | 825 | — | — | (750 | ) | — | (5 | ) | 4,013 | |||||||||||||||||||
Tax-exempt securities | 1,061 | 3 | 15 | — | — | — | (94 | ) | — | (168 | ) | 817 | |||||||||||||||||||
Total AFS debt securities | 5,091 | 13 | 29 | 826 | (1 | ) | — | (854 | ) | 100 | (261 | ) | 4,943 | ||||||||||||||||||
Loans and leases (3, 4) | 2,287 | 80 | — | 71 | — | 1,252 | (665 | ) | 12 | (21 | ) | 3,016 | |||||||||||||||||||
Mortgage servicing rights (4) | 5,716 | 1,531 | — | — | (1,774 | ) | 399 | (814 | ) | — | — | 5,058 | |||||||||||||||||||
Loans held-for-sale (3) | 2,733 | 20 | — | 8 | (390 | ) | 3 | (1,492 | ) | 34 | (3 | ) | 913 | ||||||||||||||||||
Other assets (5) | 3,129 | (324 | ) | — | 43 | (218 | ) | — | (936 | ) | 239 | (55 | ) | 1,878 | |||||||||||||||||
Trading account liabilities – Corporate securities and other | (64 | ) | 7 | — | 24 | (40 | ) | (5 | ) | — | (9 | ) | 38 | (49 | ) | ||||||||||||||||
Accrued expenses and other liabilities (3) | (15 | ) | 30 | — | — | — | (751 | ) | 703 | (1 | ) | 3 | (31 | ) | |||||||||||||||||
Long-term debt (3) | (2,301 | ) | 41 | — | 306 | (4 | ) | (149 | ) | 172 | (1,017 | ) | 889 | (2,063 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of private equity investments. | ||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the transfers into Level 3 included $693 million of trading account assets, $46 million of net derivative assets, $100 million of AFS debt securities, $239 million of other assets and $1.0 billion of long-term debt. Transfers into Level 3 for trading account assets were primarily the result of decreased third-party prices available for certain corporate loans and securities. Transfers into Level 3 for net derivative assets were primarily due to decreased price observability (i.e., market comparables for the referenced instruments) for certain complex interest rate derivative transactions and updated information related to certain total return swaps. Transfers into Level 3 for AFS debt securities were primarily due to decreased price observability. Transfers into Level 3 for other assets were primarily due to a lack of independent pricing data for certain receivables. Transfers into Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. Transfers occur on a regular basis for these long-term debt instruments due to changes in the impact of unobservable inputs on the value of the embedded derivative in relation to the instrument as a whole. | |||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the transfers out of Level 3 included $1.3 billion of trading account assets, $603 million of net derivative assets, $261 million of AFS debt securities and $889 million of long-term debt. Transfers out of Level 3 for trading account assets were primarily the result of increased market liquidity and third-party prices available for certain corporate loans and securities. Transfers out of Level 3 for net derivative assets were primarily due to increased price observability (i.e., market comparables for the referenced instruments) for certain options. Transfers out of Level 3 for AFS debt securities were primarily due to increased market liquidity. Transfers out of Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. | |||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jan | (Losses) in | (Losses) in | Transfers | Transfers | 2012 | ||||||||||||||||||||||||||
2012 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other (2) | $ | 6,880 | $ | 192 | $ | — | $ | 1,995 | $ | (3,498 | ) | $ | — | $ | (846 | ) | $ | 315 | $ | (865 | ) | $ | 4,173 | ||||||||
Equity securities | 544 | 24 | — | 167 | (159 | ) | — | 27 | 38 | (68 | ) | 573 | |||||||||||||||||||
Non-U.S. sovereign debt | 342 | 5 | — | 338 | (359 | ) | — | (4 | ) | — | (19 | ) | 303 | ||||||||||||||||||
Mortgage trading loans and ABS (2) | 3,689 | 194 | — | 1,747 | (915 | ) | — | (386 | ) | 745 | (168 | ) | 4,906 | ||||||||||||||||||
Total trading account assets | 11,455 | 415 | — | 4,247 | (4,931 | ) | — | (1,209 | ) | 1,098 | (1,120 | ) | 9,955 | ||||||||||||||||||
Net derivative assets (3) | 5,866 | 17 | — | 791 | (833 | ) | — | (2,228 | ) | (283 | ) | (370 | ) | 2,960 | |||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | 37 | — | — | — | — | — | (4 | ) | — | (33 | ) | — | |||||||||||||||||||
Non-agency residential | 860 | (69 | ) | 19 | — | (305 | ) | — | (2 | ) | — | (502 | ) | 1 | |||||||||||||||||
Non-agency commercial | 40 | — | — | — | (11 | ) | — | (6 | ) | — | — | 23 | |||||||||||||||||||
Corporate/Agency bonds | 162 | (2 | ) | — | (2 | ) | — | — | (38 | ) | — | (27 | ) | 93 | |||||||||||||||||
Other taxable securities | 4,265 | 7 | 51 | 1,558 | — | — | (551 | ) | — | (209 | ) | 5,121 | |||||||||||||||||||
Tax-exempt securities | 2,648 | 61 | 18 | — | (132 | ) | — | (1,534 | ) | — | — | 1,061 | |||||||||||||||||||
Total AFS debt securities | 8,012 | (3 | ) | 88 | 1,556 | (448 | ) | — | (2,135 | ) | — | (771 | ) | 6,299 | |||||||||||||||||
Loans and leases (4, 5) | 2,744 | 284 | — | 317 | (1,308 | ) | — | (229 | ) | 450 | (5 | ) | 2,253 | ||||||||||||||||||
Mortgage servicing rights (5) | 7,378 | (1,297 | ) | — | — | (113 | ) | 268 | (1,149 | ) | — | — | 5,087 | ||||||||||||||||||
Loans held-for-sale (4) | 3,387 | 265 | — | 606 | (40 | ) | — | (330 | ) | 57 | (632 | ) | 3,313 | ||||||||||||||||||
Other assets (6) | 4,235 | (110 | ) | — | 89 | (950 | ) | — | (275 | ) | — | (11 | ) | 2,978 | |||||||||||||||||
Trading account liabilities – Corporate securities and other | (114 | ) | 4 | — | 72 | (114 | ) | — | — | (65 | ) | 52 | (165 | ) | |||||||||||||||||
Short-term borrowings (4) | — | — | — | — | — | (232 | ) | — | — | — | (232 | ) | |||||||||||||||||||
Accrued expenses and other liabilities (4) | (14 | ) | 4 | — | 5 | — | (7 | ) | — | — | 3 | (9 | ) | ||||||||||||||||||
Long-term debt (4) | (2,943 | ) | (239 | ) | — | 188 | (33 | ) | (253 | ) | 1,099 | (1,569 | ) | 1,460 | (2,290 | ) | |||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | During the nine months ended September 30, 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and a purchase of Trading account assets - Mortgage trading loans and ABS. | ||||||||||||||||||||||||||||||
(3) | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | ||||||||||||||||||||||||||||||
(4) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(5) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(6) | Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | ||||||||||||||||||||||||||||||
During the nine months ended September 30, 2012, the transfers into Level 3 included $1.1 billion of trading account assets, $283 million of net derivative assets, $450 million of loans and leases and $1.6 billion of long-term debt. Transfers into Level 3 for trading account assets were primarily the result of decreased market liquidity for certain corporate loans and updated information related to certain CLOs. Transfers into Level 3 for net derivative assets primarily related to decreased price observability for certain long-dated equity derivative liabilities due to a lack of independent pricing. Transfers into Level 3 for loans and leases were driven by updated information related to certain commercial loans. Transfers into Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. Transfers occur on a regular basis for these long-term debt instruments due to changes in the impact of unobservable inputs on the value of the embedded derivative in relation to the instrument as a whole. | |||||||||||||||||||||||||||||||
During the nine months ended September 30, 2012, the transfers out of Level 3 included $1.1 billion of trading account assets, $370 million of net derivative assets, $771 million of AFS debt securities, $632 million of LHFS and $1.5 billion of long-term debt. Transfers out of Level 3 for trading account assets primarily related to increased market liquidity for certain corporate and commercial real estate loans. Transfers out of Level 3 for net derivative assets primarily related to increased price observability (i.e., market comparables for the referenced instruments) for certain total return swaps and foreign exchange swaps. Transfers out of Level 3 for AFS debt securities primarily related to increased price observability for certain non-agency RMBS and ABS. Transfers out of Level 3 for LHFS primarily related to increased observable inputs, primarily liquid comparables. Transfers out of Level 3 for long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured liabilities. | |||||||||||||||||||||||||||||||
The following tables summarize gains (losses) due to changes in fair value, including both realized and unrealized gains (losses), recorded in earnings for Level 3 assets and liabilities during the three and nine months ended September 30, 2013 and 2012. These amounts include gains (losses) on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 133 | $ | — | $ | — | $ | 133 | |||||||||||||||||||||
Equity securities | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 11 | — | — | 11 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||||||||||
Total trading account assets | — | 141 | — | — | 141 | ||||||||||||||||||||||||||
Net derivative assets | — | (727 | ) | 228 | — | (499 | ) | ||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Other taxable securities | — | — | — | 2 | 2 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 2 | 2 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | 9 | 9 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | (38 | ) | 18 | (20 | ) | ||||||||||||||||||||||||
Mortgage servicing rights | — | — | 71 | — | 71 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | — | 40 | 40 | ||||||||||||||||||||||||||
Other assets | 16 | — | — | (13 | ) | 3 | |||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 1 | — | — | 1 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | 8 | — | 8 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (31 | ) | — | (31 | ) | (62 | ) | |||||||||||||||||||||||
Total | $ | 16 | $ | (616 | ) | $ | 269 | $ | 23 | $ | (308 | ) | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 69 | $ | — | $ | — | $ | 69 | |||||||||||||||||||||
Equity securities | — | 15 | — | — | 15 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 7 | — | — | 7 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 111 | — | — | 111 | ||||||||||||||||||||||||||
Total trading account assets | — | 202 | — | — | 202 | ||||||||||||||||||||||||||
Net derivative assets | — | (1,214 | ) | 958 | — | (256 | ) | ||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | — | — | — | 7 | 7 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 69 | 69 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (360 | ) | — | (360 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 10 | 76 | 86 | ||||||||||||||||||||||||||
Other assets | 39 | — | (15 | ) | — | 24 | |||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (45 | ) | — | (46 | ) | (91 | ) | |||||||||||||||||||||||
Total | $ | 39 | $ | (1,053 | ) | $ | 593 | $ | 106 | $ | (315 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 256 | $ | — | $ | — | $ | 256 | |||||||||||||||||||||
Equity securities | — | 54 | — | — | 54 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 56 | — | — | 56 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 165 | — | — | 165 | ||||||||||||||||||||||||||
Total trading account assets | — | 531 | — | — | 531 | ||||||||||||||||||||||||||
Net derivative assets | — | (581 | ) | 767 | — | 186 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Other taxable securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 3 | 3 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | 13 | 13 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | (38 | ) | 118 | 80 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 1,531 | — | 1,531 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 2 | 18 | 20 | ||||||||||||||||||||||||||
Other assets | 52 | — | 124 | (500 | ) | (324 | ) | ||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 7 | — | — | 7 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | 30 | — | 30 | ||||||||||||||||||||||||||
Long-term debt (2) | — | 49 | — | (8 | ) | 41 | |||||||||||||||||||||||||
Total | $ | 52 | $ | 6 | $ | 2,416 | $ | (359 | ) | $ | 2,115 | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 192 | $ | — | $ | — | $ | 192 | |||||||||||||||||||||
Equity securities | — | 24 | — | — | 24 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 194 | — | — | 194 | ||||||||||||||||||||||||||
Total trading account assets | — | 415 | — | — | 415 | ||||||||||||||||||||||||||
Net derivative assets | — | (2,358 | ) | 2,375 | — | 17 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-agency residential MBS | — | — | — | (69 | ) | (69 | ) | ||||||||||||||||||||||||
Corporate/Agency bonds | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||
Other taxable securities | — | — | — | 7 | 7 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 61 | 61 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | (3 | ) | (3 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 284 | 284 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (1,297 | ) | — | (1,297 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 105 | 160 | 265 | ||||||||||||||||||||||||||
Other assets | 28 | — | (57 | ) | (81 | ) | (110 | ) | |||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | — | 4 | 4 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (104 | ) | — | (135 | ) | (239 | ) | |||||||||||||||||||||||
Total | $ | 28 | $ | (2,043 | ) | $ | 1,126 | $ | 229 | $ | (660 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
The following tables summarize changes in unrealized gains (losses) recorded in earnings during the three and nine months ended September 30, 2013 and 2012 for Level 3 assets and liabilities that were still held at September 30, 2013 and 2012. These amounts include changes in fair value on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | (6 | ) | $ | — | $ | — | $ | (6 | ) | |||||||||||||||||||
Equity securities | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | (55 | ) | — | — | (55 | ) | ||||||||||||||||||||||||
Total trading account assets | — | (52 | ) | — | — | (52 | ) | ||||||||||||||||||||||||
Net derivative assets | — | (754 | ) | 91 | — | (663 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | (35 | ) | 27 | (8 | ) | ||||||||||||||||||||||||
Mortgage servicing rights | — | — | (14 | ) | — | (14 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | — | 35 | 35 | ||||||||||||||||||||||||||
Other assets | 17 | — | 11 | (13 | ) | 15 | |||||||||||||||||||||||||
Long-term debt (2) | — | (31 | ) | — | (31 | ) | (62 | ) | |||||||||||||||||||||||
Total | $ | 17 | $ | (837 | ) | $ | 53 | $ | 18 | $ | (749 | ) | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 36 | $ | — | $ | — | $ | 36 | |||||||||||||||||||||
Equity securities | — | 13 | — | — | 13 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 8 | — | — | 8 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 89 | — | — | 89 | ||||||||||||||||||||||||||
Total trading account assets | — | 146 | — | — | 146 | ||||||||||||||||||||||||||
Net derivative assets | — | (1,202 | ) | 566 | — | (636 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 76 | 76 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (552 | ) | — | (552 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 15 | 68 | 83 | ||||||||||||||||||||||||||
Other assets | 115 | — | (14 | ) | 4 | 105 | |||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||
Long-term debt (2) | — | (46 | ) | — | (46 | ) | (92 | ) | |||||||||||||||||||||||
Total | $ | 115 | $ | (1,102 | ) | $ | 15 | $ | 100 | $ | (872 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 48 | $ | — | $ | — | $ | 48 | |||||||||||||||||||||
Equity securities | — | 26 | — | — | 26 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 70 | — | — | 70 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Total trading account assets | — | 149 | — | — | 149 | ||||||||||||||||||||||||||
Net derivative assets | — | (853 | ) | 92 | — | (761 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | (35 | ) | 133 | 98 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 1,276 | — | 1,276 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 6 | 25 | 31 | ||||||||||||||||||||||||||
Other assets | 23 | — | 159 | (51 | ) | 131 | |||||||||||||||||||||||||
Long-term debt (2) | — | 6 | — | (9 | ) | (3 | ) | ||||||||||||||||||||||||
Total | $ | 23 | $ | (698 | ) | $ | 1,498 | $ | 98 | $ | 921 | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 95 | $ | — | $ | — | $ | 95 | |||||||||||||||||||||
Equity securities | — | 24 | — | — | 24 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 16 | — | — | 16 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 119 | — | — | 119 | ||||||||||||||||||||||||||
Total trading account assets | — | 254 | — | — | 254 | ||||||||||||||||||||||||||
Net derivative assets | — | (2,526 | ) | 627 | — | (1,899 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 172 | 172 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (1,804 | ) | — | (1,804 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 65 | 127 | 192 | ||||||||||||||||||||||||||
Other assets | 90 | — | (54 | ) | (95 | ) | (59 | ) | |||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 3 | — | — | 3 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (105 | ) | — | (134 | ) | (239 | ) | |||||||||||||||||||||||
Total | $ | 90 | $ | (2,374 | ) | $ | (1,166 | ) | $ | 70 | $ | (3,380 | ) | ||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
The following tables present information about significant unobservable inputs related to the Corporation's material categories of Level 3 financial assets and liabilities at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Loans and Securities (1) | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 3,331 | Discounted cash flow, Market comparables | Yield | 2% to 25% | 7 | % | ||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 356 | Prepayment speed | 0% to 35% CPR | 9 | % | ||||||||||||||||||||||||||
Loans and leases | 2,366 | Default rate | 0% to 20% CDR | 7 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 609 | Loss severity | 0% to 85% | 37 | % | ||||||||||||||||||||||||||
Commercial loans, debt securities and other | $ | 11,973 | Discounted cash flow, Market comparables | Yield | 0% to 45% | 3 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 3,686 | Enterprise value/EBITDA multiple | 0x to 19x | 6 | x | ||||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 4,164 | Prepayment speed | 5% to 40% | 20 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 3,169 | Default rate | 1% to 5% | 4 | % | ||||||||||||||||||||||||||
Loans and leases | 650 | Loss severity | 25% to 40% | 35 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 304 | ||||||||||||||||||||||||||||||
Auction rate securities | $ | 1,755 | Discounted cash flow, Market comparables | Projected tender price/Re-financing level | 50% to 100% | 95 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 94 | ||||||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 844 | ||||||||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | 817 | ||||||||||||||||||||||||||||||
Structured liabilities | |||||||||||||||||||||||||||||||
Long-term debt | $ | (2,063 | ) | Industry standard derivative pricing (2) | Equity correlation | 18% to 98% | 66 | % | |||||||||||||||||||||||
Long-dated volatilities | 4% to 69% | 25 | % | ||||||||||||||||||||||||||||
Net derivatives assets | |||||||||||||||||||||||||||||||
Credit derivatives | $ | 1,300 | Discounted cash flow, Stochastic recovery correlation model | Yield | 4% to 25% | 16 | % | ||||||||||||||||||||||||
Credit spreads | 29 bps to 183 bps | 170 bps | |||||||||||||||||||||||||||||
Upfront points | 0 points to 100 points | 63 points | |||||||||||||||||||||||||||||
Spread to index | -1,731 bps to 1,681 bps | 207 bps | |||||||||||||||||||||||||||||
Credit correlation | 21% to 73% | 45 | % | ||||||||||||||||||||||||||||
Prepayment speed | 3% to 40% CPR | 14 | % | ||||||||||||||||||||||||||||
Default rate | 1% to 5% CDR | 3 | % | ||||||||||||||||||||||||||||
Loss severity | 20% to 42% | 35 | % | ||||||||||||||||||||||||||||
Equity derivatives | $ | (918 | ) | Industry standard derivative pricing (2) | Equity correlation | 18% to 98% | 66 | % | |||||||||||||||||||||||
Long-dated volatilities | 4% to 69% | 25 | % | ||||||||||||||||||||||||||||
Commodity derivatives | $ | 11 | Discounted cash flow, Industry standard derivative pricing (2) | Natural gas forward price | $3/MMBtu to $12/MMBtu | $7/MMBtu | |||||||||||||||||||||||||
Correlation | 47% to 94% | 81 | % | ||||||||||||||||||||||||||||
Volatilities | 9% to 84% | 29 | % | ||||||||||||||||||||||||||||
Interest rate derivatives | $ | 375 | Industry standard derivative pricing (3) | Correlation (IR/IR) | 24% to 99% | 61 | % | ||||||||||||||||||||||||
Correlation (FX/IR) | -65% to 50% | -2 | % | ||||||||||||||||||||||||||||
Long-dated inflation volatilities | 0% to 2% | 1 | % | ||||||||||||||||||||||||||||
Total net derivative assets | $ | 768 | |||||||||||||||||||||||||||||
(1) | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 237: Trading account assets – Corporate securities, trading loans and other of $3.8 billion, Trading account assets – Mortgage trading loans and ABS of $4.5 billion, AFS debt securities – Other taxable securities of $4.0 billion, AFS debt securities – Tax-exempt securities of $817 million, Loans and leases of $3.0 billion and LHFS of $913 million. | ||||||||||||||||||||||||||||||
(2) | Includes models such as Monte Carlo simulation and Black-Scholes. | ||||||||||||||||||||||||||||||
(3) | Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. | ||||||||||||||||||||||||||||||
CPR =onstant Prepayment Rate | |||||||||||||||||||||||||||||||
CDR =onstant Default Rate | |||||||||||||||||||||||||||||||
EBITDA =arnings before interest, taxes, depreciation and amortization | |||||||||||||||||||||||||||||||
MMBtu =illion British thermal units | |||||||||||||||||||||||||||||||
IR =nterest Rate | |||||||||||||||||||||||||||||||
FX =oreign Exchange | |||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements for Loans, Securities and Structured Liabilities at December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Loans and Securities (1) | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 4,478 | Discounted cash flow, Market comparables | Yield | 2% to 25% | 6 | % | ||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 459 | Prepayment speed | 1% to 30% CPR | 10 | % | ||||||||||||||||||||||||||
Loans and leases | 1,286 | Default rate | 0% to 44% CDR | 6 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 2,733 | Loss severity | 6% to 85% | 43 | % | ||||||||||||||||||||||||||
Instruments backed by commercial real estate assets | $ | 1,910 | Discounted cash flow | Yield | 5% | n/a | |||||||||||||||||||||||||
Other assets | 1,910 | Loss severity | 51% to 100% | 88 | % | ||||||||||||||||||||||||||
Commercial loans, debt securities and other | $ | 10,778 | Discounted cash flow, Market comparables | Yield | 0% to 25% | 4 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 2,289 | Enterprise value/EBITDA multiple | 2x to 11x | 5x | |||||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 4,476 | Prepayment speed | 5% to 30% | 20 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 3,012 | Default rate | 1% to 5% | 4 | % | ||||||||||||||||||||||||||
Loans and leases | 1,001 | Loss severity | 25% to 40% | 35 | % | ||||||||||||||||||||||||||
Auction rate securities | $ | 3,414 | Discounted cash flow, Market comparables | Discount rate | 4% to 5% | 4 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 1,437 | Projected tender price/Re-financing level | 50% to 100% | 92 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 916 | ||||||||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | 1,061 | ||||||||||||||||||||||||||||||
Structured liabilities | |||||||||||||||||||||||||||||||
Long-term debt (2) | $ | (2,301 | ) | Industry standard derivative pricing (3) | Equity correlation | 30% to 97% | n/m | ||||||||||||||||||||||||
Long-dated volatilities | 20% to 70% | n/m | |||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements for Net Derivative Assets at December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation | Significant Unobservable | Ranges of Inputs | |||||||||||||||||||||||||||
Technique | Inputs | ||||||||||||||||||||||||||||||
Net derivatives assets | |||||||||||||||||||||||||||||||
Credit derivatives | $ | 2,327 | Discounted cash flow, Stochastic recovery correlation model | Yield | 2% to 25% | ||||||||||||||||||||||||||
Credit spreads | 58 bps to 615 bps | ||||||||||||||||||||||||||||||
Upfront points | 25 points to 99 points | ||||||||||||||||||||||||||||||
Spread to index | -2,080 bps to 1,972 bps | ||||||||||||||||||||||||||||||
Credit correlation | 19% to 75% | ||||||||||||||||||||||||||||||
Prepayment speed | 3% to 30% CPR | ||||||||||||||||||||||||||||||
Default rate | 0% to 8% CDR | ||||||||||||||||||||||||||||||
Loss severity | 25% to 42% | ||||||||||||||||||||||||||||||
Equity derivatives | $ | (1,295 | ) | Industry standard derivative pricing (3) | Equity correlation | 30% to 97% | |||||||||||||||||||||||||
Long-dated volatilities | 20% to 70% | ||||||||||||||||||||||||||||||
Commodity derivatives | $ | (5 | ) | Discounted cash flow | Natural gas forward price | $3/MMBtu to $12/MMBtu | |||||||||||||||||||||||||
Interest rate derivatives | $ | 441 | Industry standard derivative pricing (4) | Correlation (IR/IR) | 15% to 99% | ||||||||||||||||||||||||||
Correlation (FX/IR) | -65% to 50% | ||||||||||||||||||||||||||||||
Long-dated inflation rates | 2% to 3% | ||||||||||||||||||||||||||||||
Long-dated inflation volatilities | 0% to 1% | ||||||||||||||||||||||||||||||
Long-dated volatilities (FX) | 5% to 36% | ||||||||||||||||||||||||||||||
Long-dated swap rates | 8% to 10% | ||||||||||||||||||||||||||||||
Total net derivative assets | $ | 1,468 | |||||||||||||||||||||||||||||
(1) | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 238: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. | ||||||||||||||||||||||||||||||
(2) | For more information on the ranges of inputs for equity correlation and long-dated volatilities, see the qualitative equity derivatives discussion on page 245. | ||||||||||||||||||||||||||||||
(3) | Includes models such as Monte Carlo simulation and Black-Scholes. | ||||||||||||||||||||||||||||||
(4) | Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. | ||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||
n/m =ot meaningful | |||||||||||||||||||||||||||||||
CPR =onstant Prepayment Rate | |||||||||||||||||||||||||||||||
CDR =onstant Default Rate | |||||||||||||||||||||||||||||||
EBITDA =arnings before interest, taxes, depreciation and amortization | |||||||||||||||||||||||||||||||
MMBtu =illion British thermal units | |||||||||||||||||||||||||||||||
IR =nterest Rate | |||||||||||||||||||||||||||||||
FX =oreign Exchange | |||||||||||||||||||||||||||||||
In the tables above, instruments backed by residential and commercial real estate assets include RMBS, CMBS, whole loans, mortgage CDOs and net monoline exposure. Commercial loans, debt securities and other includes corporate CLOs and CDOs, commercial loans and bonds, and securities backed by non-real estate assets. Structured liabilities primarily include equity-linked notes that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||
In addition to the instruments in the tables above, the Corporation held $934 million and $1.2 billion of instruments at September 30, 2013 and December 31, 2012 consisting primarily of certain direct private equity investments and private equity funds that were classified as Level 3 and reported within other assets. Valuations of direct private equity investments are based on the most recent company financial information. Inputs generally include market and acquisition comparables, entry level multiples, as well as other variables. The Corporation selects a valuation methodology (e.g., market comparables) for each investment and, in certain instances, multiple inputs are weighted to derive the most representative value. Discounts are applied as appropriate to consider the lack of liquidity and marketability versus publicly-traded companies. For private equity funds, fair value is determined using the net asset value as provided by the individual fund's general partner. | |||||||||||||||||||||||||||||||
For more information on the inputs and techniques used in the valuation of MSRs, see Note 19 – Mortgage Servicing Rights. | |||||||||||||||||||||||||||||||
The Corporation uses multiple market approaches in valuing certain of its Level 3 financial instruments. For example, market comparables and discounted cash flows are used together. For a given product, such as corporate debt securities, market comparables may be used to estimate some of the unobservable inputs and then these inputs are incorporated into a discounted cash flow model. Therefore, the balances disclosed encompass both of these techniques. | |||||||||||||||||||||||||||||||
The level of aggregation and diversity within the products disclosed in the tables results in certain ranges of inputs being wide and unevenly distributed across asset and liability categories. At December 31, 2012, weighted averages were disclosed for all loans and securities. At September 30, 2013, weighted averages are disclosed for all loans, securities, structured liabilities and net derivative assets. | |||||||||||||||||||||||||||||||
For credit derivatives, the range of credit spreads represented positions with varying levels of default risk to the underlying instruments. The lower end of the credit spread range typically represented shorter-dated instruments and those with better perceived credit risk. The higher end of the range represented longer-dated instruments and those referencing debt issuances that were more likely to be impaired or nonperforming. At December 31, 2012, the majority of inputs were concentrated in the lower end of the range. Similarly, the spread to index could vary significantly based on the risk of the instrument. The spread will be positive for instruments that have a higher risk of default than the index (which is based on a weighted average of its components) and negative for instruments that have a lower risk of default than the index. At December 31, 2012, inputs were distributed evenly throughout the range for spread to index. In addition, for yield and credit correlation, the majority of the inputs were concentrated in the center of the range. Inputs were concentrated in the middle to lower end of the range for upfront points. The range for loss severity reflected exposures that were concentrated in the middle to upper end of the range while the ranges for prepayment speed and default rates reflected exposures that were concentrated in the lower end of the range. | |||||||||||||||||||||||||||||||
For equity derivatives at December 31, 2012, including those embedded in long-term debt, the range for equity correlation represented exposure primarily concentrated toward the upper end of the range. The range for long-dated volatilities represented exposure primarily concentrated toward the lower end of the range. | |||||||||||||||||||||||||||||||
For interest rate derivatives, the diversity in the portfolio was reflected in wide ranges of inputs because the variety of currencies and tenors of the transactions required the use of numerous foreign exchange and interest rate curves. Since foreign exchange and interest rate correlations were measured between curves and across the various tenors on the same curve, the range of potential values could include both negative and positive values. For the correlation (IR/IR) range, the exposure represented the valuation of interest rate correlations on less liquid pairings and was concentrated at the upper end of the range at December 31, 2012. For the correlation (FX/IR) range, the exposure was the sensitivity to a broad mix of interest rate and foreign exchange correlations and was distributed evenly throughout the range at December 31, 2012. For long-dated inflation rates and volatilities as well as long-dated volatilities (FX), the inputs were concentrated in the middle of the range. | |||||||||||||||||||||||||||||||
Sensitivity of Fair Value Measurements to Changes in Unobservable Inputs | |||||||||||||||||||||||||||||||
Loans and Securities | |||||||||||||||||||||||||||||||
For instruments backed by residential real estate assets, commercial real estate assets, and commercial loans, debt securities and other, a significant increase in market yields, default rates or loss severities would result in a significantly lower fair value for long positions. Short positions would be impacted in a directionally opposite way. The impact of changes in prepayment speeds would have differing impacts depending on the seniority of the instrument and, in the case of CLOs, whether prepayments can be reinvested. | |||||||||||||||||||||||||||||||
For closed-end auction rate securities (ARS), a significant increase in discount rates would result in a significantly lower fair value. For student loan and municipal ARS, a significant increase in projected tender price/refinancing levels would result in a significantly higher fair value. | |||||||||||||||||||||||||||||||
Structured Liabilities and Derivatives | |||||||||||||||||||||||||||||||
For credit derivatives, a significant increase in market yield, including spreads to indices, upfront points (i.e., a single upfront payment made by a protection buyer at inception), credit spreads, default rates or loss severities would result in a significantly lower fair value for protection sellers and higher fair value for protection buyers. The impact of changes in prepayment speeds would have differing impacts depending on the seniority of the instrument and, in the case of CLOs, whether prepayments can be reinvested. | |||||||||||||||||||||||||||||||
Structured credit derivatives, which include tranched portfolio CDS and derivatives with derivative product company (DPC) and monoline counterparties, are impacted by credit correlation, including default and wrong-way correlation. Default correlation is a parameter that describes the degree of dependence among credit default rates within a credit portfolio that underlies a credit derivative instrument. The sensitivity of this input on the fair value varies depending on the level of subordination of the tranche. For senior tranches that are net purchases of protection, a significant increase in default correlation would result in a significantly higher fair value. Net short protection positions would be impacted in a directionally opposite way. Wrong-way correlation is a parameter that describes the probability that as exposure to a counterparty increases, the credit quality of the counterparty decreases. A significantly higher degree of wrong-way correlation between a DPC counterparty and underlying derivative exposure would result in a significantly lower fair value. | |||||||||||||||||||||||||||||||
For equity derivatives, equity-linked long-term debt (structured liabilities) and interest rate derivatives, a significant change in long-dated rates and volatilities and correlation inputs (e.g., the degree of correlation between an equity security and an index, between two different interest rates, or between interest rates and foreign exchange rates) would result in a significant impact to the fair value; however, the magnitude and direction of the impact depends on whether the Corporation is long or short the exposure. | |||||||||||||||||||||||||||||||
Nonrecurring Fair Value | |||||||||||||||||||||||||||||||
The Corporation holds certain assets that are measured at fair value, but only in certain situations (e.g., impairment) and these measurements are referred to herein as nonrecurring. These assets primarily include LHFS, certain loans and leases, and foreclosed properties. The amounts below represent only balances measured at fair value during the three and nine months ended September 30, 2013 and 2012, and still held as of the reporting date. | |||||||||||||||||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollars in millions) | Level 2 | Level 3 | Gains (Losses) | ||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 4,266 | $ | 274 | $ | 1 | $ | (66 | ) | ||||||||||||||||||||||
Loans and leases (1) | 23 | 5,114 | (281 | ) | (985 | ) | |||||||||||||||||||||||||
Foreclosed properties (2) | 17 | 1,293 | 21 | 23 | |||||||||||||||||||||||||||
Other assets | 78 | 10 | (7 | ) | (15 | ) | |||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 3,551 | $ | 1,006 | $ | — | $ | (6 | ) | ||||||||||||||||||||||
Loans and leases (1) | 16 | 8,576 | (1,548 | ) | (3,422 | ) | |||||||||||||||||||||||||
Foreclosed properties (2) | 64 | 1,436 | (20 | ) | (68 | ) | |||||||||||||||||||||||||
Other assets | 32 | 111 | (11 | ) | (13 | ) | |||||||||||||||||||||||||
(1) | Losses represent charge-offs on real estate-secured loans. | ||||||||||||||||||||||||||||||
(2) | Amounts are included in other assets on the Consolidated Balance Sheet and represent the fair value of, and related losses on foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. | ||||||||||||||||||||||||||||||
The table below presents information about significant unobservable inputs related to the Corporation's nonrecurring Level 3 financial assets and liabilities at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||
Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 5,114 | Market comparables | OREO discount | 0% to 19% | 9 | % | ||||||||||||||||||||||||
Loans and leases | 5,114 | Cost to sell | 8% | n/a | |||||||||||||||||||||||||||
Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 9,932 | Discounted cash flow, Market comparables | Yield | 3% to 5% | 3 | % | ||||||||||||||||||||||||
Loans held-for-sale | 748 | Prepayment speed | 3% to 30% | 15 | % | ||||||||||||||||||||||||||
Loans and leases | 9,184 | Default rate | 0% to 55% | 7 | % | ||||||||||||||||||||||||||
Loss severity | 6% to 66% | 48 | % | ||||||||||||||||||||||||||||
OREO discount | 0% to 28% | 15 | % | ||||||||||||||||||||||||||||
Cost to sell | 8% | n/a | |||||||||||||||||||||||||||||
Instruments backed by commercial real estate assets | $ | 388 | Discounted cash flow | Yield | 4% to 13% | 6 | % | ||||||||||||||||||||||||
Loans held-for-sale | 388 | Loss severity | 24% to 88% | 53 | % | ||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets represent residential mortgages where the loan has been written down to the fair value of the underlying collateral or, in the case of LHFS, are carried at the lower of cost or fair value. | |||||||||||||||||||||||||||||||
In addition to the instruments disclosed in the table above, the Corporation holds foreclosed residential properties where the fair value is based on unadjusted third-party appraisals or broker price opinions. Appraisals are conducted every 90 days. Factors considered in determining the fair value include geographic sales trends, the value of comparable surrounding properties as well as the condition of the property. |
Fair_Value_Option
Fair Value Option | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Fair Value Option [Abstract] | ||||||||||||||||||||||||
Fair Value Option | ||||||||||||||||||||||||
NOTE 17 – Fair Value Option | ||||||||||||||||||||||||
The Corporation elects to account for certain financial instruments under the fair value option. For more information on the primary financial instruments for which the fair value option elections have been made, see Note 22 – Fair Value Option to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||
The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets and liabilities accounted for under the fair value option at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||
Fair Value Option Elections | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Contractual | Fair Value | Fair Value | Contractual | Fair Value | ||||||||||||||||||
Carrying | Principal | Carrying | Carrying | Principal | Carrying | |||||||||||||||||||
Amount | Outstanding | Amount | Amount | Outstanding | Amount | |||||||||||||||||||
Less Unpaid | Less Unpaid | |||||||||||||||||||||||
Principal | Principal | |||||||||||||||||||||||
Loans reported as trading account assets (1) | $ | 2,510 | $ | 4,013 | $ | (1,503 | ) | $ | 1,663 | $ | 2,879 | $ | (1,216 | ) | ||||||||||
Trading inventory – other | 3,106 | n/a | n/a | 2,170 | n/a | n/a | ||||||||||||||||||
Consumer and commercial loans | 10,196 | 10,598 | (402 | ) | 9,002 | 9,576 | (574 | ) | ||||||||||||||||
Loans held-for-sale | 8,217 | 8,937 | (720 | ) | 11,659 | 12,676 | (1,017 | ) | ||||||||||||||||
Securities financing agreements | 164,816 | 164,556 | 260 | 141,309 | 140,791 | 518 | ||||||||||||||||||
Other assets | 412 | 270 | 142 | 453 | 270 | 183 | ||||||||||||||||||
Long-term deposits | 1,916 | 1,794 | 122 | 2,262 | 2,046 | 216 | ||||||||||||||||||
Asset-backed secured financings | 762 | 1,105 | (343 | ) | 741 | 1,176 | (435 | ) | ||||||||||||||||
Unfunded loan commitments | 412 | n/a | n/a | 528 | n/a | n/a | ||||||||||||||||||
Short-term borrowings | 2,082 | 2,082 | — | 3,333 | 3,333 | — | ||||||||||||||||||
Accrued expenses and other liabilities | 20 | 20 | — | — | — | — | ||||||||||||||||||
Long-term debt (2, 3) | 47,401 | 47,811 | (410 | ) | 49,161 | 50,792 | (1,631 | ) | ||||||||||||||||
(1) | A significant portion of the loans reported as trading account assets are distressed loans which trade and were purchased at a deep discount to par, and the remainder are loans with a fair value near contractual principal outstanding. | |||||||||||||||||||||||
(2) | The majority of the difference between the fair value carrying amount and contractual principal outstanding at September 30, 2013 and December 31, 2012 relates to the impact of the Corporation's credit spreads as well as the fair value of the embedded derivative, where applicable. | |||||||||||||||||||||||
(3) | Includes structured liabilities with a fair value of $36.1 billion and contractual principal outstanding of $35.9 billion at September 30, 2013 compared to $39.3 billion and $39.9 billion at December 31, 2012. | |||||||||||||||||||||||
n/a =ot applicable | ||||||||||||||||||||||||
The table below provides information about where changes in the fair value of assets and liabilities accounted for under the fair value option are included in the Consolidated Statement of Income for the three and nine months ended September 30, 2013 and 2012. Of the changes in fair value for LHFS, gains of $52 million and $119 million were attributable to changes in borrower-specific credit risk for the three and nine months ended September 30, 2013 compared to gains of $117 million and $281 million for the same periods in 2012. Of the changes in fair value for loans and loan commitments, gains of $62 million and $218 million were attributable to changes in borrower-specific credit risk for the three and nine months ended September 30, 2013 compared to gains of $487 million and $975 million for the same periods in 2012. Changes to borrower-specific credit risk for loans reported as trading account assets were not material for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Dollars in millions) | Trading | Mortgage | Other | Total | ||||||||||||||||||||
Account | Banking | Income | ||||||||||||||||||||||
Profits | Income | (Loss) | ||||||||||||||||||||||
(Losses) | (Loss) | |||||||||||||||||||||||
Loans reported as trading account assets | $ | 46 | $ | — | $ | — | $ | 46 | ||||||||||||||||
Consumer and commercial loans | 1 | (38 | ) | 30 | (7 | ) | ||||||||||||||||||
Loans held-for-sale (1) | 5 | 174 | 79 | 258 | ||||||||||||||||||||
Securities financing agreements | (23 | ) | — | — | (23 | ) | ||||||||||||||||||
Other assets | — | — | (47 | ) | (47 | ) | ||||||||||||||||||
Long-term deposits | (6 | ) | — | 13 | 7 | |||||||||||||||||||
Asset-backed secured financings | — | (20 | ) | — | (20 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 76 | 76 | ||||||||||||||||||||
Short-term borrowings | (1 | ) | — | — | (1 | ) | ||||||||||||||||||
Accrued expenses and other liabilities | — | 9 | — | 9 | ||||||||||||||||||||
Long-term debt (2) | (191 | ) | — | (152 | ) | (343 | ) | |||||||||||||||||
Total | $ | (169 | ) | $ | 125 | $ | (1 | ) | $ | (45 | ) | |||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
Loans reported as trading account assets | $ | 64 | $ | — | $ | — | $ | 64 | ||||||||||||||||
Consumer and commercial loans | 3 | — | 185 | 188 | ||||||||||||||||||||
Loans held-for-sale (1) | 20 | 675 | 87 | 782 | ||||||||||||||||||||
Securities financing agreements | 9 | — | — | 9 | ||||||||||||||||||||
Long-term deposits | — | — | (20 | ) | (20 | ) | ||||||||||||||||||
Asset-backed secured financings | — | (54 | ) | — | (54 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 313 | 313 | ||||||||||||||||||||
Short-term borrowings | (1 | ) | — | — | (1 | ) | ||||||||||||||||||
Long-term debt (2) | (1,113 | ) | — | (1,289 | ) | (2,402 | ) | |||||||||||||||||
Total | $ | (1,018 | ) | $ | 621 | $ | (724 | ) | $ | (1,121 | ) | |||||||||||||
(1) | Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||||||||||||||||||
(2) | The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. | |||||||||||||||||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Dollars in millions) | Trading | Mortgage | Other | Total | ||||||||||||||||||||
Account | Banking | Income | ||||||||||||||||||||||
Profits | Income | (Loss) | ||||||||||||||||||||||
(Losses) | (Loss) | |||||||||||||||||||||||
Loans reported as trading account assets | $ | 85 | $ | — | $ | — | $ | 85 | ||||||||||||||||
Consumer and commercial loans | 2 | (38 | ) | 182 | 146 | |||||||||||||||||||
Loans held-for-sale (1) | (2 | ) | 685 | 38 | 721 | |||||||||||||||||||
Securities financing agreements | (39 | ) | — | — | (39 | ) | ||||||||||||||||||
Other assets | — | — | (86 | ) | (86 | ) | ||||||||||||||||||
Long-term deposits | 30 | — | 67 | 97 | ||||||||||||||||||||
Asset-backed secured financings | — | (71 | ) | — | (71 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 122 | 122 | ||||||||||||||||||||
Short-term borrowings | (29 | ) | — | — | (29 | ) | ||||||||||||||||||
Accrued expenses and other liabilities | — | 31 | — | 31 | ||||||||||||||||||||
Long-term debt (2) | (100 | ) | — | (232 | ) | (332 | ) | |||||||||||||||||
Total | $ | (53 | ) | $ | 607 | $ | 91 | $ | 645 | |||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
Loans reported as trading account assets | $ | 198 | $ | — | $ | — | $ | 198 | ||||||||||||||||
Consumer and commercial loans | 8 | — | 430 | 438 | ||||||||||||||||||||
Loans held-for-sale (1) | 69 | 2,136 | 167 | 2,372 | ||||||||||||||||||||
Securities financing agreements | (58 | ) | — | — | (58 | ) | ||||||||||||||||||
Other assets | — | — | 7 | 7 | ||||||||||||||||||||
Asset-backed secured financings | — | (109 | ) | — | (109 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 605 | 605 | ||||||||||||||||||||
Short-term borrowings | 18 | — | — | 18 | ||||||||||||||||||||
Long-term debt (2) | (1,086 | ) | — | (4,665 | ) | (5,751 | ) | |||||||||||||||||
Total | $ | (851 | ) | $ | 2,027 | $ | (3,456 | ) | $ | (2,280 | ) | |||||||||||||
(1) | Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||||||||||||||||||
(2) | The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
NOTE 18 – Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The fair values of financial instruments and their classifications within the fair value hierarchy have been derived using methodologies described in Note 16 – Fair Value Measurements. The following disclosures include financial instruments where only a portion of the ending balance at September 30, 2013 and December 31, 2012 was carried at fair value on the Consolidated Balance Sheet. | ||||||||||||||||||||||||||||||||
Short-term Financial Instruments | ||||||||||||||||||||||||||||||||
The carrying value of short-term financial instruments, including cash and cash equivalents, time deposits placed and other short-term investments, federal funds sold and purchased, resale and certain repurchase agreements, customer and other receivables, customer payables (within accrued expenses and other liabilities on the Consolidated Balance Sheet), and short-term borrowings approximates the fair value of these instruments. These financial instruments generally expose the Corporation to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The Corporation elected to account for certain repurchase agreements under the fair value option. | ||||||||||||||||||||||||||||||||
Under the fair value hierarchy, cash and cash equivalents are classified as Level 1. Time deposits placed and other short-term investments, such as U.S. government securities and short-term commercial paper, are classified as Level 1 and Level 2. Federal funds sold and purchased are classified as Level 2. Resale and repurchase agreements are classified as Level 2 because they are generally short-dated and/or variable-rate instruments collateralized by U.S. government or agency securities. Customer and other receivables primarily consist of margin loans, servicing advances and other accounts receivable and are classified as Level 2 and Level 3. Customer payables (within accrued expenses and other liabilities) and short-term borrowings are classified as Level 2. | ||||||||||||||||||||||||||||||||
Held-to-maturity Debt Securities | ||||||||||||||||||||||||||||||||
HTM debt securities, which consist of U.S. agency debt securities, are classified as Level 2 using the same methodologies as AFS U.S. agency debt securities. For more information on HTM debt securities, see Note 4 – Securities. | ||||||||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||||
The fair values for commercial and consumer loans are generally determined by discounting both principal and interest cash flows expected to be collected using a discount rate for similar instruments with adjustments that the Corporation believes a market participant would consider in determining fair value. The Corporation estimates the cash flows expected to be collected using internal credit risk, interest rate and prepayment risk models that incorporate the Corporation's best estimate of current key assumptions, such as default rates, loss severity and prepayment speeds for the life of the loan. The carrying value of loans is presented net of the applicable allowance for loan losses and excludes leases. The Corporation elected to account for certain large commercial loans that exceeded the Corporation's single name credit risk concentration guidelines by an amount that would require hedging under the fair value option. | ||||||||||||||||||||||||||||||||
Mortgage Servicing Rights | ||||||||||||||||||||||||||||||||
Commercial and residential reverse MSRs, which are carried at the lower of cost or market value and accounted for using the amortization method, are classified as Level 3. For more information on MSRs, see Note 19 – Mortgage Servicing Rights. | ||||||||||||||||||||||||||||||||
Deposits | ||||||||||||||||||||||||||||||||
The fair value for certain deposits with stated maturities was determined by discounting contractual cash flows using current market rates for instruments with similar maturities. The carrying value of non-U.S. time deposits approximates fair value. For deposits with no stated maturities, the carrying value was considered to approximate fair value and does not take into account the significant value of the cost advantage and stability of the Corporation's long-term relationships with depositors. The Corporation accounts for certain long-term fixed-rate deposits that are hedged with derivatives on a risk management basis under the fair value option. | ||||||||||||||||||||||||||||||||
Long-term Debt | ||||||||||||||||||||||||||||||||
The Corporation uses quoted market prices, when available, to estimate fair value for its long-term debt. When quoted market prices are not available, fair value is estimated based on current market interest rates and credit spreads for debt with similar terms and maturities. The Corporation accounts for certain structured liabilities under the fair value option. | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The carrying values and fair values by fair value hierarchy of certain financial instruments where only a portion of the ending balance was carried at fair value at September 30, 2013 and December 31, 2012 are presented in the table below. | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Level 2 | Level 3 | Total | Carrying | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Value | Value | |||||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||
Loans | $ | 890,469 | $ | 105,404 | $ | 802,191 | $ | 907,595 | $ | 859,875 | $ | 105,119 | $ | 772,761 | $ | 877,880 | ||||||||||||||||
Loans held-for-sale | 15,001 | 13,447 | 1,554 | 15,001 | 19,413 | 15,087 | 4,321 | 19,408 | ||||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||
Deposits | 1,110,118 | 1,110,427 | — | 1,110,427 | 1,105,261 | 1,105,669 | — | 1,105,669 | ||||||||||||||||||||||||
Long-term debt | 255,331 | 261,903 | 2,063 | 263,966 | 275,585 | 281,173 | 2,301 | 283,474 | ||||||||||||||||||||||||
Commercial Unfunded Lending Commitments | ||||||||||||||||||||||||||||||||
Fair values were generally determined using a discounted cash flow valuation approach which is applied using market-based CDS or internally developed benchmark credit curves. The Corporation accounts for certain loan commitments under the fair value option. | ||||||||||||||||||||||||||||||||
The carrying values and fair values of the Corporation's commercial unfunded lending commitments were $888 million and $4.3 billion at September 30, 2013, and $1.0 billion and $4.5 billion at December 31, 2012. Commercial unfunded lending commitments are primarily classified as Level 3. The carrying value of these commitments is classified in accrued expenses and other liabilities. | ||||||||||||||||||||||||||||||||
The Corporation does not estimate the fair values of consumer unfunded lending commitments because, in many instances, the Corporation can reduce or cancel these commitments by providing notice to the borrower. For more information on commitments, see Note 11 – Commitments and Contingencies. |
Mortgage_Servicing_Rights
Mortgage Servicing Rights | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Transfers and Servicing [Abstract] | ||||||||||||||||
Mortgage Servicing Rights | ||||||||||||||||
NOTE 19 – Mortgage Servicing Rights | ||||||||||||||||
The Corporation accounts for consumer MSRs at fair value with changes in fair value recorded in mortgage banking income in the Consolidated Statement of Income. The Corporation manages the risk in these MSRs with securities including MBS and U.S. Treasuries, as well as certain derivatives such as options and interest rate swaps, which are not designated as accounting hedges. The securities used to manage the risk in the MSRs are classified in other assets with changes in the fair value of the securities and the related interest income recorded in mortgage banking income. | ||||||||||||||||
The table below presents activity for residential first-lien MSRs for the three and nine months ended September 30, 2013 and 2012. Commercial and residential reverse MSRs, which are carried at the lower of cost or market value and accounted for using the amortization method, totaled $10 million and $135 million at September 30, 2013 and December 31, 2012, and are not included in the tables in this Note. | ||||||||||||||||
Rollforward of Mortgage Servicing Rights | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
30-Sep | 30-Sep | |||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Balance, beginning of period | $ | 5,827 | $ | 5,708 | $ | 5,716 | $ | 7,378 | ||||||||
Additions | 129 | 100 | 399 | 268 | ||||||||||||
Sales | (729 | ) | (15 | ) | (1,774 | ) | (113 | ) | ||||||||
Amortization of expected cash flows (1) | (240 | ) | (346 | ) | (814 | ) | (1,149 | ) | ||||||||
Impact of changes in interest rates and other market factors (2) | 24 | (280 | ) | 1,162 | (1,022 | ) | ||||||||||
Model and other cash flow assumption changes: (3) | ||||||||||||||||
Projected cash flows, primarily due to decreases in costs to service loans | 9 | 113 | 23 | 506 | ||||||||||||
Impact of changes in the Home Price Index | (197 | ) | (62 | ) | (399 | ) | (42 | ) | ||||||||
Impact of changes to the prepayment model | 206 | — | 609 | 342 | ||||||||||||
Other model changes (4) | 29 | (131 | ) | 136 | (1,081 | ) | ||||||||||
Balance, September 30 | $ | 5,058 | $ | 5,087 | $ | 5,058 | $ | 5,087 | ||||||||
Mortgage loans serviced for investors (in billions) | $ | 616 | $ | 1,142 | $ | 616 | $ | 1,142 | ||||||||
(1) | Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows. | |||||||||||||||
(2) | These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. | |||||||||||||||
(3) | These amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows as well as changes in certain cash flow assumptions such as cost to service and ancillary income per loan. | |||||||||||||||
(4) | These amounts include the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows. Also included is a decrease of $929 million for the nine months ended September 30, 2012 due to changes in OAS rate inputs. | |||||||||||||||
The Corporation primarily uses an OAS valuation approach which factors in prepayment risk to determine the fair value of MSRs. This approach consists of projecting servicing cash flows under multiple interest rate scenarios and discounting these cash flows using risk-adjusted discount rates. In addition to updating the valuation model for interest, discount and prepayment rates, periodic adjustments are made to recalibrate the valuation model for factors used to project cash flows. The changes to the factors capture the effect of variances related to actual versus estimated servicing proceeds. | ||||||||||||||||
The $729 million and $1.8 billion of MSR sales during the three and nine months ended September 30, 2013 primarily relate to transfers completed under definitive agreements the Corporation entered into during 2013 to sell certain MSRs. The transfers of the MSRs have occurred in stages throughout 2013, and approximately 92 percent of the servicing encompassed by these agreements had been transferred as of September 30, 2013. | ||||||||||||||||
Significant economic assumptions in estimating the fair value of MSRs at September 30, 2013 and December 31, 2012 are presented below. The change in fair value as a result of changes in OAS rates is included within "Model and other cash flow assumption changes" in the Rollforward of Mortgage Servicing Rights table. The weighted-average life is not an input in the valuation model but is a product of both changes in market rates of interest and changes in model and other cash flow assumptions. The weighted-average life represents the average period of time that the MSRs' cash flows are expected to be received. Absent other changes, an increase (decrease) to the weighted-average life would generally result in an increase (decrease) in the MSRs' fair value. | ||||||||||||||||
Significant Economic Assumptions | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Fixed | Adjustable | Fixed | Adjustable | |||||||||||||
Weighted-average OAS | 4.08 | % | 7.33 | % | 4 | % | 6.63 | % | ||||||||
Weighted-average life, in years | 5.19 | 2.75 | 3.65 | 2.1 | ||||||||||||
The table below presents the sensitivity of the weighted-average lives and fair value of MSRs to changes in modeled assumptions. These sensitivities are hypothetical and should be used with caution. As the amounts indicate, changes in fair value based on variations 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 a variation in a particular assumption on the fair value of MSRs that continue to be held by the Corporation is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which might magnify or counteract the sensitivities. The below sensitivities do not reflect any hedge strategies that may be undertaken to mitigate such risk. | ||||||||||||||||
Sensitivity Impacts | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Change in Weighted-average Lives | ||||||||||||||||
(Dollars in millions) | Fixed | Adjustable | Change in | |||||||||||||
Fair Value | ||||||||||||||||
Prepayment rates | ||||||||||||||||
Impact of 10% decrease | 0.24 | years | 0.19 | years | $ | 303 | ||||||||||
Impact of 20% decrease | 0.51 | 0.4 | 639 | |||||||||||||
Impact of 10% increase | (0.22 | ) | (0.16 | ) | (275 | ) | ||||||||||
Impact of 20% increase | (0.42 | ) | (0.31 | ) | (526 | ) | ||||||||||
OAS level | ||||||||||||||||
Impact of 100 bps decrease | $ | 261 | ||||||||||||||
Impact of 200 bps decrease | 545 | |||||||||||||||
Impact of 100 bps increase | (240 | ) | ||||||||||||||
Impact of 200 bps increase | (461 | ) |
Business_Segment_Information
Business Segment Information | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Business Segment Information | ||||||||||||||||||||||||
NOTE 20 – Business Segment Information | ||||||||||||||||||||||||
The Corporation reports the results of its operations through five business segments: Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Banking, Global Markets and Global Wealth & Investment Management (GWIM), with the remaining operations recorded in All Other. | ||||||||||||||||||||||||
Consumer & Business Banking | ||||||||||||||||||||||||
CBB offers a diversified range of credit, banking and investment products and services to consumers and businesses. CBB product offerings include traditional savings accounts, money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, investment accounts and products as well as credit and debit cards in the U.S. to consumers and small businesses. Customers and clients have access to a franchise network that stretches coast to coast through 31 states and the District of Columbia. The franchise network includes approximately 5,200 banking centers, 16,200 ATMs, nationwide call centers, and online and mobile platforms. CBB also offers a wide range of lending-related products and services, integrated working capital management and treasury solutions through a network of offices and client relationship teams along with various product partners to U.S.-based companies generally with annual sales of $1 million to $50 million. CBB results are impacted by the migration of clients and their deposit and loan balances between CBB and other client-managed businesses. Subsequent to the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the business to which the clients migrated. During the second quarter of 2013, consumer DFS results were moved to CBB from Global Banking to align this business more closely with the Corporation's consumer lending activity and better serve the needs of its customers. Prior periods were reclassified to conform to current period presentation. | ||||||||||||||||||||||||
Consumer Real Estate Services | ||||||||||||||||||||||||
CRES provides an extensive line of consumer real estate products and services to customers nationwide. CRES products include fixed- and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit (HELOCs) and home equity loans. First mortgage products are generally either sold into the secondary mortgage market to investors, while retaining MSRs and the Bank of America customer relationships, or are held on the balance sheet in All Other for ALM purposes. Newly originated HELOCs and home equity loans are retained on the CRES balance sheet. CRES services mortgage loans, including those loans it owns, loans owned by other business segments and All Other, and loans owned by outside investors. | ||||||||||||||||||||||||
The financial results of the on-balance sheet loans are reported in the business segment that owns the loans or All Other. CRES is not impacted by the Corporation's first mortgage production retention decisions as CRES is compensated for loans held for ALM purposes on a management accounting basis, with a corresponding offset recorded in All Other, and for servicing loans owned by other business segments and All Other. CRES also includes the impact of migrating customers and their related loan balances between GWIM and CRES. Subsequent to the date of migration, the associated net interest income and noninterest expense are recorded in the business segment to which loans were transferred. | ||||||||||||||||||||||||
Global Banking | ||||||||||||||||||||||||
Global Banking provides a wide range of lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services through the Corporation's network of offices and client relationship teams. Global Banking's lending products and services include commercial loans, leases, commitment facilities, trade finance, real estate lending and asset-based lending. Global Banking's treasury solutions business includes treasury management, foreign exchange and short-term investing options. Global Banking also works with clients to provide investment banking products such as debt and equity underwriting and distribution, and merger-related and other advisory services. The economics of most investment banking and underwriting activities are shared primarily between Global Banking and Global Markets based on the activities performed by each segment. Global Banking clients generally include middle-market companies, commercial real estate firms, auto dealerships, not-for-profit companies, large global corporations, financial institutions and leasing clients. During the second quarter of 2013, the results of consumer DFS, previously reported in Global Banking, were moved into CBB and prior periods have been reclassified to conform to current period presentation. | ||||||||||||||||||||||||
Global Markets | ||||||||||||||||||||||||
Global Markets offers sales and trading services, including research, to institutional clients across fixed-income, credit, currency, commodity and equity businesses. Global Markets product coverage includes securities and derivative products in both the primary and secondary markets. Global Markets provides market-making, financing, securities clearing, settlement and custody services globally to institutional investor clients in support of their investing and trading activities. Global Markets also works with commercial and corporate clients to provide risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income and mortgage-related products. As a result of market-making activities in these products, Global Markets may be required to manage risk in government securities, equity and equity-linked securities, high-grade and high-yield corporate debt securities, MBS, commodities and ABS. The economics of most investment banking and underwriting activities are shared primarily between Global Markets and Global Banking based on the activities performed by each segment. | ||||||||||||||||||||||||
Global Wealth & Investment Management | ||||||||||||||||||||||||
GWIM provides comprehensive wealth management solutions to a broad base of clients from emerging affluent to the ultra-wealthy. These services include investment and brokerage services, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management. GWIM also provides retirement and benefit plan services, philanthropic management and asset management to individual and institutional clients. GWIM results are impacted by the net migration of clients and their related deposit and loan balances between GWIM and other businesses. Subsequent to the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the business to which the clients migrated. | ||||||||||||||||||||||||
All Other | ||||||||||||||||||||||||
All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, gains/losses on structured liabilities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to the business segments. Additionally, All Other includes certain residential mortgage loans that are managed by CRES. | ||||||||||||||||||||||||
Basis of Presentation | ||||||||||||||||||||||||
The management accounting and reporting process derives segment and business results by utilizing allocation methodologies for revenue and expense. The net income derived for the businesses is dependent upon revenue and cost allocations using an activity-based costing model, funds transfer pricing, and other methodologies and assumptions management believes are appropriate to reflect the results of the business. | ||||||||||||||||||||||||
Total revenue, net of interest expense, includes net interest income on a FTE basis and noninterest income. The adjustment of net interest income to a FTE basis results in a corresponding increase in income tax expense. The segment results also reflect certain revenue and expense methodologies that are utilized to determine net income. The net interest income of the businesses includes the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics. For presentation purposes, in segments where the total of liabilities and equity exceeds assets, which are generally deposit-taking segments, the Corporation allocates assets to match liabilities. Net interest income of the business segments also includes an allocation of net interest income generated by certain of the Corporation's ALM activities. | ||||||||||||||||||||||||
The Corporation's ALM activities include an overall interest rate risk management strategy that incorporates the use of various derivatives and cash instruments to manage fluctuations in earnings and capital that are caused by interest rate volatility. The Corporation's goal is to manage interest rate sensitivity so that movements in interest rates do not significantly adversely affect earnings and capital. The results of a majority of the Corporation's ALM activities are allocated to the business segments and fluctuate based on the performance of the ALM activities. ALM activities include external product pricing decisions including deposit pricing strategies, the effects of the Corporation's internal funds transfer pricing process and the net effects of other ALM activities. | ||||||||||||||||||||||||
Certain expenses not directly attributable to a specific business segment are allocated to the segments. The most significant of these expenses include data and item processing costs and certain centralized or shared functions. Data processing costs are allocated to the segments based on equipment usage. Item processing costs are allocated to the segments based on the volume of items processed for each segment. The costs of certain other centralized or shared functions are allocated based on methodologies that reflect utilization. | ||||||||||||||||||||||||
The following tables present total revenue, net of interest expense, on a FTE basis, and net income (loss) for the three and nine months ended September 30, 2013 and 2012, and total assets at September 30, 2013 and 2012 for each business segment, as well as All Other. | ||||||||||||||||||||||||
Business Segments | ||||||||||||||||||||||||
At and for the Three Months Ended September 30 | ||||||||||||||||||||||||
Total Corporation (1) | Consumer & Business Banking | Consumer Real Estate Services | ||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net interest income (FTE basis) | $ | 10,479 | $ | 10,167 | $ | 5,056 | $ | 4,824 | $ | 733 | $ | 719 | ||||||||||||
Noninterest income | 11,264 | 10,490 | 2,468 | 2,437 | 844 | 2,364 | ||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 21,743 | 20,657 | 7,524 | 7,261 | 1,577 | 3,083 | ||||||||||||||||||
Provision for credit losses | 296 | 1,774 | 761 | 1,006 | (308 | ) | 263 | |||||||||||||||||
Amortization of intangibles | 270 | 315 | 126 | 156 | — | — | ||||||||||||||||||
Other noninterest expense | 16,119 | 17,229 | 3,854 | 3,955 | 3,419 | 4,180 | ||||||||||||||||||
Income (loss) before income taxes | 5,058 | 1,339 | 2,783 | 2,144 | (1,534 | ) | (1,360 | ) | ||||||||||||||||
Income tax expense (benefit) (FTE basis) | 2,561 | 999 | 1,004 | 793 | (534 | ) | (503 | ) | ||||||||||||||||
Net income (loss) | $ | 2,497 | $ | 340 | $ | 1,779 | $ | 1,351 | $ | (1,000 | ) | $ | (857 | ) | ||||||||||
Period-end total assets | $ | 2,126,653 | $ | 2,166,162 | $ | 588,627 | $ | 540,419 | $ | 115,424 | $ | 138,120 | ||||||||||||
Global Banking | Global Markets | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 2,201 | $ | 2,009 | $ | 975 | $ | 929 | ||||||||||||||||
Noninterest income | 1,808 | 1,777 | 2,401 | 2,349 | ||||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 4,009 | 3,786 | 3,376 | 3,278 | ||||||||||||||||||||
Provision for credit losses | 322 | 23 | 47 | 31 | ||||||||||||||||||||
Amortization of intangibles | 16 | 20 | 16 | 16 | ||||||||||||||||||||
Other noninterest expense | 1,912 | 1,916 | 2,868 | 2,559 | ||||||||||||||||||||
Income before income taxes | 1,759 | 1,827 | 445 | 672 | ||||||||||||||||||||
Income tax expense (FTE basis) | 625 | 676 | 1,223 | 948 | ||||||||||||||||||||
Net income (loss) | $ | 1,134 | $ | 1,151 | $ | (778 | ) | $ | (276 | ) | ||||||||||||||
Period-end total assets | $ | 373,110 | $ | 325,488 | $ | 601,139 | $ | 600,154 | ||||||||||||||||
Global Wealth & | All Other | |||||||||||||||||||||||
Investment Management | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 1,478 | $ | 1,413 | $ | 36 | $ | 273 | ||||||||||||||||
Noninterest income (loss) | 2,912 | 2,670 | 831 | (1,107 | ) | |||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 4,390 | 4,083 | 867 | (834 | ) | |||||||||||||||||||
Provision for credit losses | 23 | 61 | (549 | ) | 390 | |||||||||||||||||||
Amortization of intangibles | 95 | 101 | 17 | 22 | ||||||||||||||||||||
Other noninterest expense | 3,153 | 3,014 | 913 | 1,605 | ||||||||||||||||||||
Income (loss) before income taxes | 1,119 | 907 | 486 | (2,851 | ) | |||||||||||||||||||
Income tax expense (benefit) (FTE basis) | 400 | 336 | (157 | ) | (1,251 | ) | ||||||||||||||||||
Net income (loss) | $ | 719 | $ | 571 | $ | 643 | $ | (1,600 | ) | |||||||||||||||
Period-end total assets | $ | 270,484 | $ | 268,408 | $ | 177,869 | $ | 293,573 | ||||||||||||||||
(1) | There were no material intersegment revenues. | |||||||||||||||||||||||
Business Segments | ||||||||||||||||||||||||
At and for the Nine Months Ended September 30 | ||||||||||||||||||||||||
Total Corporation (1) | Consumer & Business Banking | Consumer Real Estate Services | ||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net interest income (FTE basis) | $ | 32,125 | $ | 31,002 | $ | 15,103 | $ | 14,984 | $ | 2,175 | $ | 2,200 | ||||||||||||
Noninterest income | 35,975 | 34,342 | 7,267 | 7,405 | 3,829 | 6,076 | ||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 68,100 | 65,344 | 22,370 | 22,389 | 6,004 | 8,276 | ||||||||||||||||||
Provision for credit losses | 3,220 | 5,965 | 2,680 | 3,069 | 318 | 957 | ||||||||||||||||||
Amortization of intangibles | 820 | 955 | 380 | 472 | — | — | ||||||||||||||||||
Other noninterest expense | 51,087 | 52,778 | 11,935 | 12,349 | 12,219 | 11,583 | ||||||||||||||||||
Income (loss) before income taxes | 12,973 | 5,646 | 7,375 | 6,499 | (6,533 | ) | (4,264 | ) | ||||||||||||||||
Income tax expense (benefit) (FTE basis) | 4,981 | 2,190 | 2,754 | 2,398 | (2,439 | ) | (1,529 | ) | ||||||||||||||||
Net income (loss) | $ | 7,992 | $ | 3,456 | $ | 4,621 | $ | 4,101 | $ | (4,094 | ) | $ | (2,735 | ) | ||||||||||
Period-end total assets | $ | 2,126,653 | $ | 2,166,162 | $ | 588,627 | $ | 540,419 | $ | 115,424 | $ | 138,120 | ||||||||||||
Global Banking | Global Markets | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 6,613 | $ | 6,036 | $ | 3,097 | $ | 2,557 | ||||||||||||||||
Noninterest income | 5,564 | 5,686 | 9,337 | 8,707 | ||||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 12,177 | 11,722 | 12,434 | 11,264 | ||||||||||||||||||||
Provision for credit losses | 634 | (404 | ) | 36 | 17 | |||||||||||||||||||
Amortization of intangibles | 48 | 61 | 49 | 48 | ||||||||||||||||||||
Other noninterest expense | 5,578 | 5,804 | 8,680 | 8,620 | ||||||||||||||||||||
Income before income taxes | 5,917 | 6,261 | 3,669 | 2,579 | ||||||||||||||||||||
Income tax expense (FTE basis) | 2,210 | 2,309 | 2,321 | 1,531 | ||||||||||||||||||||
Net income | $ | 3,707 | $ | 3,952 | $ | 1,348 | $ | 1,048 | ||||||||||||||||
Period-end total assets | $ | 373,110 | $ | 325,488 | $ | 601,139 | $ | 600,154 | ||||||||||||||||
Global Wealth & | All Other | |||||||||||||||||||||||
Investment Management | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 4,579 | $ | 4,337 | $ | 558 | $ | 888 | ||||||||||||||||
Noninterest income (loss) | 8,731 | 7,987 | 1,247 | (1,519 | ) | |||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 13,310 | 12,324 | 1,805 | (631 | ) | |||||||||||||||||||
Provision for credit losses | 30 | 154 | (478 | ) | 2,172 | |||||||||||||||||||
Amortization of intangibles | 293 | 310 | 50 | 64 | ||||||||||||||||||||
Other noninterest expense | 9,480 | 9,214 | 3,195 | 5,208 | ||||||||||||||||||||
Income (loss) before income taxes | 3,507 | 2,646 | (962 | ) | (8,075 | ) | ||||||||||||||||||
Income tax expense (benefit) (FTE basis) | 1,310 | 977 | (1,175 | ) | (3,496 | ) | ||||||||||||||||||
Net income (loss) | $ | 2,197 | $ | 1,669 | $ | 213 | $ | (4,579 | ) | |||||||||||||||
Period-end total assets | $ | 270,484 | $ | 268,408 | $ | 177,869 | $ | 293,573 | ||||||||||||||||
-1 | There were no material intersegment revenues. | |||||||||||||||||||||||
The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on a FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the table below include consolidated income, expense and asset amounts not specifically allocated to individual business segments. | ||||||||||||||||||||||||
Business Segment Reconciliations | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Segments' total revenue, net of interest expense (FTE basis) | $ | 20,876 | $ | 21,491 | $ | 66,295 | $ | 65,975 | ||||||||||||||||
Adjustments: | ||||||||||||||||||||||||
ALM activities (1) | (180 | ) | (930 | ) | (590 | ) | (1,623 | ) | ||||||||||||||||
Equity investment income | 1,121 | 172 | 2,217 | 566 | ||||||||||||||||||||
Liquidating businesses and other | (74 | ) | (76 | ) | 178 | 426 | ||||||||||||||||||
FTE basis adjustment | (213 | ) | (229 | ) | (646 | ) | (670 | ) | ||||||||||||||||
Consolidated revenue, net of interest expense | $ | 21,530 | $ | 20,428 | $ | 67,454 | $ | 64,674 | ||||||||||||||||
Segments' net income | $ | 1,854 | $ | 1,940 | $ | 7,779 | $ | 8,035 | ||||||||||||||||
Adjustments, net-of-taxes: | ||||||||||||||||||||||||
ALM activities | (71 | ) | (1,156 | ) | (748 | ) | (3,209 | ) | ||||||||||||||||
Equity investment income | 706 | 108 | 1,397 | 357 | ||||||||||||||||||||
Liquidating businesses and other | 8 | (552 | ) | (436 | ) | (1,727 | ) | |||||||||||||||||
Consolidated net income | $ | 2,497 | $ | 340 | $ | 7,992 | $ | 3,456 | ||||||||||||||||
September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Segments' total assets | $ | 1,948,784 | $ | 1,872,589 | ||||||||||||||||||||
Adjustments: | ||||||||||||||||||||||||
ALM activities, including securities portfolio | 662,206 | 677,585 | ||||||||||||||||||||||
Equity investments | 2,625 | 5,626 | ||||||||||||||||||||||
Liquidating businesses and other | 70,991 | 124,053 | ||||||||||||||||||||||
Elimination of segment asset allocations to match liabilities | (557,953 | ) | (513,691 | ) | ||||||||||||||||||||
Consolidated total assets | $ | 2,126,653 | $ | 2,166,162 | ||||||||||||||||||||
(1) | Includes negative fair value adjustments on structured liabilities related to the improvement in the Corporation's credit spreads of $152 million and $232 million for the three and nine months ended September 30, 2013 compared to negative adjustments of $1.3 billion and $4.7 billion for the same periods in 2012. |
Summary_of_Significant_Account1
Summary of Significant Accounting Principles (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | |
Consolidation, Policy | The Consolidated Financial Statements include the accounts of the Corporation and its majority-owned subsidiaries, and those variable interest entities (VIEs) where the Corporation is the primary beneficiary. Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition and for VIEs, from the dates that the Corporation became the primary beneficiary. Assets held in an agency or fiduciary capacity are not included in the Consolidated Financial Statements. The Corporation accounts for investments in companies for which it owns a voting interest and for which it has the ability to exercise significant influence over operating and financing decisions using the equity method of accounting or at fair value under the fair value option. These investments are included in other assets. Equity method investments are subject to impairment testing and the Corporation's proportionate share of income or loss is included in equity investment income. |
Basis of Accounting, Policy | The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. |
These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. The nature of the Corporation's business is such that the results of any interim period are not necessarily indicative of results for a full year. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim period results have been made. The Corporation evaluates subsequent events through the date of filing with the Securities and Exchange Commission (SEC). Certain prior-period amounts have been reclassified to conform to current period presentation. | |
New Accounting Pronouncements, Policy | In December 2012, the Financial Accounting Standards Board (FASB) issued a proposed standard on accounting for expected credit losses. It would replace multiple existing impairment models, including an "incurred loss" model for loans, with an "expected credit loss" model. The FASB announced it would establish the effective date when it issues the final standard. The Corporation cannot predict at this time whether or when a final standard will be issued, when it will be effective or what its final provisions will be. It is possible that the final standard could have a material adverse impact on the Corporation's results of operations if and when it is issued and becomes effective. |
Trading_Account_Assets_and_Lia1
Trading Account Assets and Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||
Components of trading account assets and liabilities | The table below presents the components of trading account assets and liabilities at September 30, 2013 and December 31, 2012. | |||||||
(Dollars in millions) | September 30 | December 31 | ||||||
2013 | 2012 | |||||||
Trading account assets | ||||||||
U.S. government and agency securities (1) | $ | 59,250 | $ | 86,974 | ||||
Corporate securities, trading loans and other | 34,267 | 37,900 | ||||||
Equity securities | 48,300 | 43,315 | ||||||
Non-U.S. sovereign debt | 44,125 | 42,746 | ||||||
Mortgage trading loans and asset-backed securities | 15,264 | 16,840 | ||||||
Total trading account assets | $ | 201,206 | $ | 227,775 | ||||
Trading account liabilities | ||||||||
U.S. government and agency securities | $ | 24,395 | $ | 23,430 | ||||
Equity securities | 26,860 | 22,492 | ||||||
Non-U.S. sovereign debt | 23,621 | 20,244 | ||||||
Corporate securities and other | 7,837 | 7,421 | ||||||
Total trading account liabilities | $ | 82,713 | $ | 73,587 | ||||
(1) | Includes $13.4 billion and $30.6 billion of government-sponsored enterprise obligations at September 30, 2013 and December 31, 2012. |
Derivatives_Tables
Derivatives (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments | The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at September 30, 2013 and December 31, 2012. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral received or paid. | |||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Gross Derivative Assets | Gross Derivative Liabilities | |||||||||||||||||||||||||||||||
(Dollars in billions) | Contract/ | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | |||||||||||||||||||||||||
Notional (1) | Accounting | Accounting | ||||||||||||||||||||||||||||||
Hedges | Hedges | |||||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Swaps | $ | 33,859.60 | $ | 725.2 | $ | 8.7 | $ | 733.9 | $ | 720.9 | $ | 0.7 | $ | 721.6 | ||||||||||||||||||
Futures and forwards | 9,086.90 | 3.4 | — | 3.4 | 4 | — | 4 | |||||||||||||||||||||||||
Written options | 2,162.60 | — | — | — | 70.8 | — | 70.8 | |||||||||||||||||||||||||
Purchased options | 2,111.10 | 72.1 | — | 72.1 | — | — | — | |||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Swaps | 2,312.40 | 45.3 | 0.9 | 46.2 | 46.4 | 1.5 | 47.9 | |||||||||||||||||||||||||
Spot, futures and forwards | 2,901.30 | 24.8 | 0.5 | 25.3 | 26.6 | 1.4 | 28 | |||||||||||||||||||||||||
Written options | 485.5 | — | — | — | 7.9 | — | 7.9 | |||||||||||||||||||||||||
Purchased options | 448.7 | 7.6 | — | 7.6 | — | — | — | |||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Swaps | 152.3 | 3.4 | — | 3.4 | 3 | — | 3 | |||||||||||||||||||||||||
Futures and forwards | 76.3 | 1.3 | — | 1.3 | 1.4 | — | 1.4 | |||||||||||||||||||||||||
Written options | 363.6 | — | — | — | 28.1 | — | 28.1 | |||||||||||||||||||||||||
Purchased options | 320.6 | 27.2 | — | 27.2 | — | — | — | |||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Swaps | 73.1 | 3.8 | — | 3.8 | 4.5 | — | 4.5 | |||||||||||||||||||||||||
Futures and forwards | 592.3 | 4.6 | — | 4.6 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 209.7 | — | — | — | 6.8 | — | 6.8 | |||||||||||||||||||||||||
Purchased options | 223.4 | 7.1 | — | 7.1 | — | — | — | |||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Purchased credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,441.70 | 23.4 | — | 23.4 | 23.6 | — | 23.6 | |||||||||||||||||||||||||
Total return swaps/other | 47.4 | 2.2 | — | 2.2 | 3.2 | — | 3.2 | |||||||||||||||||||||||||
Written credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,417.90 | 24.7 | — | 24.7 | 20.9 | — | 20.9 | |||||||||||||||||||||||||
Total return swaps/other | 77.5 | 3.6 | — | 3.6 | 0.2 | — | 0.2 | |||||||||||||||||||||||||
Gross derivative assets/liabilities | $ | 979.7 | $ | 10.1 | $ | 989.8 | $ | 971 | $ | 3.6 | $ | 974.6 | ||||||||||||||||||||
Less: Legally enforceable master netting agreements | (889.3 | ) | (889.3 | ) | ||||||||||||||||||||||||||||
Less: Cash collateral received/paid | (47.3 | ) | (40.7 | ) | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | $ | 53.2 | $ | 44.6 | ||||||||||||||||||||||||||||
(1) | Represents the total contract/notional amount of derivative assets and liabilities outstanding. | |||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross Derivative Assets | Gross Derivative Liabilities | |||||||||||||||||||||||||||||||
(Dollars in billions) | Contract/ | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | Trading Derivatives and Other Risk Management Derivatives | Qualifying | Total | |||||||||||||||||||||||||
Notional (1) | Accounting | Accounting | ||||||||||||||||||||||||||||||
Hedges | Hedges | |||||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Swaps | $ | 34,667.40 | $ | 1,075.40 | $ | 13.8 | $ | 1,089.20 | $ | 1,062.60 | $ | 4.7 | $ | 1,067.30 | ||||||||||||||||||
Futures and forwards | 11,950.50 | 2.8 | — | 2.8 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 2,343.50 | — | — | — | 106 | — | 106 | |||||||||||||||||||||||||
Purchased options | 2,162.60 | 105.5 | — | 105.5 | — | — | — | |||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Swaps | 2,489.00 | 47.4 | 1.4 | 48.8 | 53.2 | 1.8 | 55 | |||||||||||||||||||||||||
Spot, futures and forwards | 3,023.00 | 31.5 | 0.4 | 31.9 | 30.5 | 0.8 | 31.3 | |||||||||||||||||||||||||
Written options | 363.3 | — | — | — | 7.3 | — | 7.3 | |||||||||||||||||||||||||
Purchased options | 321.8 | 6.5 | — | 6.5 | — | — | — | |||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Swaps | 127.1 | 1.6 | — | 1.6 | 2 | — | 2 | |||||||||||||||||||||||||
Futures and forwards | 58.4 | 1 | — | 1 | 1 | — | 1 | |||||||||||||||||||||||||
Written options | 295.3 | — | — | — | 20.2 | — | 20.2 | |||||||||||||||||||||||||
Purchased options | 271 | 20.4 | — | 20.4 | — | — | — | |||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Swaps | 60.5 | 2.5 | 0.1 | 2.6 | 4 | — | 4 | |||||||||||||||||||||||||
Futures and forwards | 498.9 | 4.8 | — | 4.8 | 2.7 | — | 2.7 | |||||||||||||||||||||||||
Written options | 166.4 | — | — | — | 7.4 | — | 7.4 | |||||||||||||||||||||||||
Purchased options | 168.2 | 7.1 | — | 7.1 | — | — | — | |||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Purchased credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,559.50 | 35.6 | — | 35.6 | 22.1 | — | 22.1 | |||||||||||||||||||||||||
Total return swaps/other | 43.5 | 2.5 | — | 2.5 | 2.9 | — | 2.9 | |||||||||||||||||||||||||
Written credit derivatives: | ||||||||||||||||||||||||||||||||
Credit default swaps | 1,531.50 | 23 | — | 23 | 32.6 | — | 32.6 | |||||||||||||||||||||||||
Total return swaps/other | 68.8 | 0.2 | — | 0.2 | 0.3 | — | 0.3 | |||||||||||||||||||||||||
Gross derivative assets/liabilities | $ | 1,367.80 | $ | 15.7 | $ | 1,383.50 | $ | 1,357.50 | $ | 7.3 | $ | 1,364.80 | ||||||||||||||||||||
Less: Legally enforceable master netting agreements | (1,271.9 | ) | (1,271.9 | ) | ||||||||||||||||||||||||||||
Less: Cash collateral received/paid | (58.1 | ) | (46.9 | ) | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | $ | 53.5 | $ | 46 | ||||||||||||||||||||||||||||
(1) | Represents the total contract/notional amount of derivative assets and liabilities outstanding. | |||||||||||||||||||||||||||||||
Offsetting Assets/Liabilities | ||||||||||||||||||||||||||||||||
Offsetting of Derivatives | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in billions) | Derivative | Derivative | Derivative | Derivative | ||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||||||
Interest rate contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | $ | 439.8 | $ | 416.3 | $ | 646.7 | $ | 623.4 | ||||||||||||||||||||||||
Exchange traded | 0.2 | 0.2 | — | — | ||||||||||||||||||||||||||||
Over-the-counter cleared | 368 | 375.8 | 539.5 | 545.1 | ||||||||||||||||||||||||||||
Foreign exchange contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 76.1 | 79.6 | 84.1 | 88.7 | ||||||||||||||||||||||||||||
Equity contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 20 | 17.5 | 15.2 | 13.3 | ||||||||||||||||||||||||||||
Exchange-traded | 7.2 | 8.5 | 4.8 | 4.7 | ||||||||||||||||||||||||||||
Commodity contracts | ||||||||||||||||||||||||||||||||
Over-the-counter | 7 | 7.7 | 6.9 | 7.9 | ||||||||||||||||||||||||||||
Exchange-traded | 3 | 2.7 | 3.4 | 3.2 | ||||||||||||||||||||||||||||
Credit derivatives | ||||||||||||||||||||||||||||||||
Over-the-counter | 48.2 | 42.9 | 56 | 53.9 | ||||||||||||||||||||||||||||
Over-the-counter cleared | 4.4 | 4.5 | 3.8 | 3.4 | ||||||||||||||||||||||||||||
Total gross derivative assets/liabilities, before netting | ||||||||||||||||||||||||||||||||
Over-the-counter | 591.1 | 564 | 808.9 | 787.2 | ||||||||||||||||||||||||||||
Exchange-traded | 10.4 | 11.4 | 8.2 | 7.9 | ||||||||||||||||||||||||||||
Over-the-counter cleared | 372.4 | 380.3 | 543.3 | 548.5 | ||||||||||||||||||||||||||||
Less: Legally enforceable master netting and cash collateral received/paid | ||||||||||||||||||||||||||||||||
Over-the-counter | (556.6 | ) | (541.8 | ) | (780.8 | ) | (764.4 | ) | ||||||||||||||||||||||||
Exchange-traded | (7.9 | ) | (7.9 | ) | (5.9 | ) | (5.9 | ) | ||||||||||||||||||||||||
Over-the-counter cleared | (372.1 | ) | (380.3 | ) | (543.3 | ) | (548.5 | ) | ||||||||||||||||||||||||
Derivative assets/liabilities, after netting | 37.3 | 25.7 | 30.4 | 24.8 | ||||||||||||||||||||||||||||
Other gross derivative assets/liabilities | 15.9 | 18.9 | 23.1 | 21.2 | ||||||||||||||||||||||||||||
Total derivative assets/liabilities | 53.2 | 44.6 | 53.5 | 46 | ||||||||||||||||||||||||||||
Less: Financial instruments collateral (1) | (11.4 | ) | (7.5 | ) | (11.5 | ) | (14.6 | ) | ||||||||||||||||||||||||
Total net derivative assets/liabilities | $ | 41.8 | $ | 37.1 | $ | 42 | $ | 31.4 | ||||||||||||||||||||||||
-1 | These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged | |||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below summarizes certain information related to fair value hedges for the three and nine months ended September 30, 2013 and 2012, including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated. At redesignation, the fair value of the derivatives was positive. As the derivatives mature, the fair value will approach zero. As a result, ineffectiveness will occur and the fair value changes in the derivatives and the long-term debt being hedged may be directionally the same in certain scenarios. Based on a regression analysis, the derivatives continue to be highly effective at offsetting changes in the fair value of the long-term debt attributable to interest rate risk. | |||||||||||||||||||||||||||||||
Derivatives Designated as Fair Value Hedges | ||||||||||||||||||||||||||||||||
Gains (Losses) | Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Derivative | Hedged | Hedge | Derivative | Hedged | Hedge | ||||||||||||||||||||||||||
Item | Ineffectiveness | Item | Ineffectiveness | |||||||||||||||||||||||||||||
Interest rate risk on long-term debt (1) | $ | (313 | ) | $ | 81 | $ | (232 | ) | $ | (3,696 | ) | $ | 3,114 | $ | (582 | ) | ||||||||||||||||
Interest rate and foreign currency risk on long-term debt (1) | 991 | (1,059 | ) | (68 | ) | (1,129 | ) | 945 | (184 | ) | ||||||||||||||||||||||
Interest rate risk on available-for-sale securities (2) | — | — | — | 836 | (837 | ) | (1 | ) | ||||||||||||||||||||||||
Price risk on commodity inventory (3) | 1 | 1 | 2 | 1 | — | 1 | ||||||||||||||||||||||||||
Total | $ | 679 | $ | (977 | ) | $ | (298 | ) | $ | (3,988 | ) | $ | 3,222 | $ | (766 | ) | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Interest rate risk on long-term debt (1) | $ | 109 | $ | (385 | ) | $ | (276 | ) | $ | 518 | $ | (1,265 | ) | $ | (747 | ) | ||||||||||||||||
Interest rate and foreign currency risk on long-term debt (1) | (716 | ) | 647 | (69 | ) | (1,455 | ) | 1,259 | (196 | ) | ||||||||||||||||||||||
Interest rate risk on available-for-sale securities (2) | 349 | (309 | ) | 40 | (593 | ) | 659 | 66 | ||||||||||||||||||||||||
Price risk on commodity inventory (3) | (24 | ) | 24 | — | (10 | ) | 10 | — | ||||||||||||||||||||||||
Total | $ | (282 | ) | $ | (23 | ) | $ | (305 | ) | $ | (1,540 | ) | $ | 663 | $ | (877 | ) | |||||||||||||||
(1) | Amounts are recorded in interest expense on long-term debt and in other income (loss). | |||||||||||||||||||||||||||||||
(2) | Amounts are recorded in interest income on debt securities. Hedged AFS securities positions were sold during the six months ended June 30, 2013 and the related hedges were terminated. | |||||||||||||||||||||||||||||||
(3) | Amounts relating to commodity inventory are recorded in trading account profits. | |||||||||||||||||||||||||||||||
Schedule of Cash Flow and Net Investment Hedges | ||||||||||||||||||||||||||||||||
Derivatives Designated as Cash Flow and Net Investment Hedges | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions, amounts pre-tax) | Gains (Losses) Recognized in Accumulated OCI on Derivatives | Gains (Losses) in Income Reclassified from Accumulated OCI | Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) | Gains (Losses) Recognized in Accumulated OCI on Derivatives | Gains (Losses) in Income Reclassified from Accumulated OCI | Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) | ||||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||||||||||
Interest rate risk on variable-rate portfolios | $ | (15 | ) | $ | (271 | ) | $ | 1 | $ | (305 | ) | $ | (801 | ) | $ | (1 | ) | |||||||||||||||
Price risk on restricted stock awards | 137 | 108 | — | 302 | 217 | — | ||||||||||||||||||||||||||
Total | $ | 122 | $ | (163 | ) | $ | 1 | $ | (3 | ) | $ | (584 | ) | $ | (1 | ) | ||||||||||||||||
Net investment hedges | ||||||||||||||||||||||||||||||||
Foreign exchange risk | $ | (1,472 | ) | $ | 2 | $ | (31 | ) | $ | 1,008 | $ | (89 | ) | $ | (103 | ) | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Cash flow hedges | ||||||||||||||||||||||||||||||||
Interest rate risk on variable-rate portfolios | $ | 21 | $ | (260 | ) | $ | — | $ | (32 | ) | $ | (636 | ) | $ | — | |||||||||||||||||
Commodity price risk on forecasted purchases and sales | — | 3 | — | — | — | — | ||||||||||||||||||||||||||
Price risk on restricted stock awards | 65 | (28 | ) | — | 155 | (90 | ) | — | ||||||||||||||||||||||||
Total | $ | 86 | $ | (285 | ) | $ | — | $ | 123 | $ | (726 | ) | $ | — | ||||||||||||||||||
Net investment hedges | ||||||||||||||||||||||||||||||||
Foreign exchange risk | $ | (1,149 | ) | $ | 11 | $ | (13 | ) | $ | (1,021 | ) | $ | (26 | ) | $ | (180 | ) | |||||||||||||||
(1) | Amounts related to derivatives designated as cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing. | |||||||||||||||||||||||||||||||
Other Risk Management Derivatives | The table below presents gains (losses) on these derivatives for the three and nine months ended September 30, 2013 and 2012. These gains (losses) are largely offset by the income or expense that is recorded on the hedged item. | |||||||||||||||||||||||||||||||
Other Risk Management Derivatives | ||||||||||||||||||||||||||||||||
Gains (Losses) | Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||
Price risk on mortgage banking production income (1, 2) | $ | (203 | ) | $ | 850 | $ | 687 | $ | 2,240 | |||||||||||||||||||||||
Market-related risk on mortgage banking servicing income (1) | 44 | 822 | (937 | ) | 1,970 | |||||||||||||||||||||||||||
Credit risk on loans (3) | (16 | ) | (32 | ) | (23 | ) | (70 | ) | ||||||||||||||||||||||||
Interest rate and foreign currency risk on ALM activities (4) | 1,195 | (309 | ) | 1,703 | (987 | ) | ||||||||||||||||||||||||||
Price risk on restricted stock awards (5) | 192 | 142 | 432 | 392 | ||||||||||||||||||||||||||||
Other | (4 | ) | 16 | (15 | ) | 105 | ||||||||||||||||||||||||||
Total | $ | 1,208 | $ | 1,489 | $ | 1,847 | $ | 3,650 | ||||||||||||||||||||||||
(1) | Net gains on these derivatives are recorded in mortgage banking income. | |||||||||||||||||||||||||||||||
(2) | Includes net gains on interest rate lock commitments related to the origination of mortgage loans that are held-for-sale, which are considered derivative instruments, of $228 million and $767 million for the three and nine months ended September 30, 2013 compared to $1.0 billion and $2.4 billion for the same periods in 2012. | |||||||||||||||||||||||||||||||
(3) | Net gains (losses) on these derivatives are recorded in other income (loss). | |||||||||||||||||||||||||||||||
(4) | The balance is primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Results from these items are recorded in other income (loss). The offsetting mark-to-market, while not included in the table above, is also recorded in other income (loss). | |||||||||||||||||||||||||||||||
(5) | Gains (losses) on these derivatives are recorded in personnel expense. | |||||||||||||||||||||||||||||||
Schedule of Derivative Instruments Included in Trading Activities | The table below, which includes both derivatives and non-derivative cash instruments, identifies the amounts in the respective income statement line items attributable to the Corporation's sales and trading revenue in Global Markets, categorized by primary risk, for the three and nine months ended September 30, 2013 and 2012. The difference between total trading account profits in the table below and in the Consolidated Statement of Income represents trading activities in business segments other than Global Markets. This table includes debit valuation adjustment (DVA) gains (losses), net of hedges. Global Markets results in Note 20 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on a FTE basis. | |||||||||||||||||||||||||||||||
Sales and Trading Revenue | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Trading | Net Interest Income | Other (1) | Total | Trading | Net Interest Income | Other (1) | Total | ||||||||||||||||||||||||
Account | Account | |||||||||||||||||||||||||||||||
Profits | Profits | |||||||||||||||||||||||||||||||
Interest rate risk | $ | 188 | $ | 237 | $ | 31 | $ | 456 | $ | 1,207 | $ | 800 | $ | 66 | $ | 2,073 | ||||||||||||||||
Foreign exchange risk | 215 | 2 | (6 | ) | 211 | 890 | 3 | (21 | ) | 872 | ||||||||||||||||||||||
Equity risk | 392 | 48 | 505 | 945 | 1,663 | 42 | 1,598 | 3,303 | ||||||||||||||||||||||||
Credit risk | 349 | 622 | 79 | 1,050 | 1,805 | 2,010 | (167 | ) | 3,648 | |||||||||||||||||||||||
Other risk | 57 | (56 | ) | 5 | 6 | 374 | (141 | ) | 35 | 268 | ||||||||||||||||||||||
Total sales and trading revenue | $ | 1,201 | $ | 853 | $ | 614 | $ | 2,668 | $ | 5,939 | $ | 2,714 | $ | 1,511 | $ | 10,164 | ||||||||||||||||
2012 | 2012 | |||||||||||||||||||||||||||||||
Interest rate risk | $ | 68 | $ | 267 | $ | (4 | ) | $ | 331 | $ | 522 | $ | 752 | $ | (21 | ) | $ | 1,253 | ||||||||||||||
Foreign exchange risk | 193 | 1 | 13 | 207 | 659 | 5 | 12 | 676 | ||||||||||||||||||||||||
Equity risk | 195 | 15 | 457 | 667 | 988 | (90 | ) | 1,442 | 2,340 | |||||||||||||||||||||||
Credit risk | 663 | 552 | 130 | 1,345 | 2,387 | 1,632 | 862 | 4,881 | ||||||||||||||||||||||||
Other risk | 118 | (45 | ) | (12 | ) | 61 | 425 | (168 | ) | 30 | 287 | |||||||||||||||||||||
Total sales and trading revenue | $ | 1,237 | $ | 790 | $ | 584 | $ | 2,611 | $ | 4,981 | $ | 2,131 | $ | 2,325 | $ | 9,437 | ||||||||||||||||
(1) | Represents amounts in investment and brokerage services and other income (loss) that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $480 million and $1.6 billion for the three and nine months ended September 30, 2013 and $428 million and $1.4 billion for the same periods in 2012. | |||||||||||||||||||||||||||||||
Disclosure of Credit Derivatives | Credit derivative instruments where the Corporation is the seller of credit protection and their expiration are summarized at September 30, 2013 and December 31, 2012 in the table below. These instruments are classified as investment and non-investment grade based on the credit quality of the underlying referenced obligation. The Corporation considers ratings of BBB- or higher as investment grade. Non-investment grade includes non-rated credit derivative instruments. | |||||||||||||||||||||||||||||||
Credit Derivative Instruments | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying Value | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Less than | One to | Three to | Over Five | Total | |||||||||||||||||||||||||||
One Year | Three Years | Five Years | Years | |||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 11 | $ | 629 | $ | 2,874 | $ | 2,039 | $ | 5,553 | ||||||||||||||||||||||
Non-investment grade | 679 | 2,705 | 4,158 | 7,810 | 15,352 | |||||||||||||||||||||||||||
Total | 690 | 3,334 | 7,032 | 9,849 | 20,905 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 26 | — | — | — | 26 | |||||||||||||||||||||||||||
Non-investment grade | 98 | 65 | 35 | 12 | 210 | |||||||||||||||||||||||||||
Total | 124 | 65 | 35 | 12 | 236 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 814 | $ | 3,399 | $ | 7,067 | $ | 9,861 | $ | 21,141 | ||||||||||||||||||||||
Credit-related notes: (1) | ||||||||||||||||||||||||||||||||
Investment grade | $ | 1 | $ | 270 | $ | 291 | $ | 4,705 | $ | 5,267 | ||||||||||||||||||||||
Non-investment grade | 159 | 154 | 702 | 980 | 1,995 | |||||||||||||||||||||||||||
Total credit-related notes | $ | 160 | $ | 424 | $ | 993 | $ | 5,685 | $ | 7,262 | ||||||||||||||||||||||
Maximum Payout/Notional | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 211,697 | $ | 361,303 | $ | 482,919 | $ | 56,592 | $ | 1,112,511 | ||||||||||||||||||||||
Non-investment grade | 62,546 | 96,021 | 110,575 | 36,243 | 305,385 | |||||||||||||||||||||||||||
Total | 274,243 | 457,324 | 593,494 | 92,835 | 1,417,896 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 30,937 | — | — | — | 30,937 | |||||||||||||||||||||||||||
Non-investment grade | 33,036 | 6,265 | 5,744 | 1,545 | 46,590 | |||||||||||||||||||||||||||
Total | 63,973 | 6,265 | 5,744 | 1,545 | 77,527 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 338,216 | $ | 463,589 | $ | 599,238 | $ | 94,380 | $ | 1,495,423 | ||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Carrying Value | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 52 | $ | 757 | $ | 5,595 | $ | 2,903 | $ | 9,307 | ||||||||||||||||||||||
Non-investment grade | 923 | 4,403 | 7,030 | 10,959 | 23,315 | |||||||||||||||||||||||||||
Total | 975 | 5,160 | 12,625 | 13,862 | 32,622 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 39 | — | — | — | 39 | |||||||||||||||||||||||||||
Non-investment grade | 57 | 104 | 39 | 37 | 237 | |||||||||||||||||||||||||||
Total | 96 | 104 | 39 | 37 | 276 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 1,071 | $ | 5,264 | $ | 12,664 | $ | 13,899 | $ | 32,898 | ||||||||||||||||||||||
Credit-related notes: (1) | ||||||||||||||||||||||||||||||||
Investment grade | $ | 4 | $ | 12 | $ | 441 | $ | 3,849 | $ | 4,306 | ||||||||||||||||||||||
Non-investment grade | 116 | 161 | 314 | 1,425 | 2,016 | |||||||||||||||||||||||||||
Total credit-related notes | $ | 120 | $ | 173 | $ | 755 | $ | 5,274 | $ | 6,322 | ||||||||||||||||||||||
Maximum Payout/Notional | ||||||||||||||||||||||||||||||||
Credit default swaps: | ||||||||||||||||||||||||||||||||
Investment grade | $ | 260,177 | $ | 349,125 | $ | 500,038 | $ | 90,453 | $ | 1,199,793 | ||||||||||||||||||||||
Non-investment grade | 79,861 | 99,043 | 110,248 | 42,559 | 331,711 | |||||||||||||||||||||||||||
Total | 340,038 | 448,168 | 610,286 | 133,012 | 1,531,504 | |||||||||||||||||||||||||||
Total return swaps/other: | ||||||||||||||||||||||||||||||||
Investment grade | 43,536 | 15 | — | — | 43,551 | |||||||||||||||||||||||||||
Non-investment grade | 5,566 | 11,028 | 7,631 | 1,035 | 25,260 | |||||||||||||||||||||||||||
Total | 49,102 | 11,043 | 7,631 | 1,035 | 68,811 | |||||||||||||||||||||||||||
Total credit derivatives | $ | 389,140 | $ | 459,211 | $ | 617,917 | $ | 134,047 | $ | 1,600,315 | ||||||||||||||||||||||
(1) | For credit-related notes, maximum payout/notional is the same as carrying value. | |||||||||||||||||||||||||||||||
Valuation Adjustments on Derivatives | The table below presents CVA and DVA gains (losses) for the Corporation on a gross and net of hedge basis, which are recorded in trading account profits. | |||||||||||||||||||||||||||||||
Valuation Adjustments on Derivatives | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(Dollars in millions) | Gross | Net | Gross | Net | Gross | Net | Gross | Net | ||||||||||||||||||||||||
Derivative assets (CVA) (1) | $ | 335 | $ | 102 | $ | 525 | $ | 75 | $ | 347 | $ | (131 | ) | $ | 725 | $ | 237 | |||||||||||||||
Derivative liabilities (DVA) (2) | (293 | ) | (292 | ) | (606 | ) | (583 | ) | 159 | 126 | (1,899 | ) | (2,200 | ) | ||||||||||||||||||
(1) | At September 30, 2013 and December 31, 2012, the cumulative CVA reduced the derivative assets balance by $2.0 billion and $2.4 billion. | |||||||||||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, the cumulative DVA reduced the derivative liabilities balance by $1.0 billion and $807 million. |
Securities_Tables
Securities (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||
Marketable Securities | The following tables present the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value, held-to-maturity (HTM) debt securities and marketable equity securities at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||
Debt Securities and Available-for-Sale Marketable Equity Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 2,872 | $ | 127 | $ | (28 | ) | $ | 2,971 | |||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 170,911 | 1,311 | (3,197 | ) | 169,025 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 27,187 | 340 | (192 | ) | 27,335 | |||||||||||||||||||||||||
Non-agency residential (1) | 6,788 | 239 | (98 | ) | 6,929 | |||||||||||||||||||||||||
Commercial | 2,751 | 84 | (8 | ) | 2,827 | |||||||||||||||||||||||||
Non-U.S. securities | 6,217 | 35 | (12 | ) | 6,240 | |||||||||||||||||||||||||
Corporate/Agency bonds | 1,152 | 28 | (10 | ) | 1,170 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 13,142 | 29 | (6 | ) | 13,165 | |||||||||||||||||||||||||
Total taxable securities | 231,020 | 2,193 | (3,551 | ) | 229,662 | |||||||||||||||||||||||||
Tax-exempt securities | 5,264 | 6 | (36 | ) | 5,234 | |||||||||||||||||||||||||
Total available-for-sale debt securities | 236,284 | 2,199 | (3,587 | ) | 234,896 | |||||||||||||||||||||||||
Other debt securities carried at fair value | 32,365 | 98 | (1,010 | ) | 31,453 | |||||||||||||||||||||||||
Total debt securities carried at fair value | 268,649 | 2,297 | (4,597 | ) | 266,349 | |||||||||||||||||||||||||
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities | 54,649 | 67 | (1,865 | ) | 52,851 | |||||||||||||||||||||||||
Total debt securities | $ | 323,298 | $ | 2,364 | $ | (6,462 | ) | $ | 319,200 | |||||||||||||||||||||
Available-for-sale marketable equity securities (2) | $ | 119 | $ | — | $ | (5 | ) | $ | 114 | |||||||||||||||||||||
(1) | At September 30, 2013, the underlying collateral type included approximately 89 percent prime, seven percent Alt-A and four percent subprime. | |||||||||||||||||||||||||||||
(2) | Classified in other assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||||||||
Debt Securities and Available-for-Sale Marketable Equity Securities | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
Available-for-sale debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 24,232 | $ | 324 | $ | (84 | ) | $ | 24,472 | |||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 183,247 | 5,048 | (146 | ) | 188,149 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 36,329 | 1,427 | (218 | ) | 37,538 | |||||||||||||||||||||||||
Non-agency residential (1) | 9,231 | 391 | (128 | ) | 9,494 | |||||||||||||||||||||||||
Non-agency commercial | 3,576 | 348 | — | 3,924 | ||||||||||||||||||||||||||
Non-U.S. securities | 5,574 | 50 | (6 | ) | 5,618 | |||||||||||||||||||||||||
Corporate/Agency bonds | 1,415 | 51 | (16 | ) | 1,450 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 12,089 | 54 | (15 | ) | 12,128 | |||||||||||||||||||||||||
Total taxable securities | 275,693 | 7,693 | (613 | ) | 282,773 | |||||||||||||||||||||||||
Tax-exempt securities | 4,167 | 13 | (47 | ) | 4,133 | |||||||||||||||||||||||||
Total available-for-sale debt securities | 279,860 | 7,706 | (660 | ) | 286,906 | |||||||||||||||||||||||||
Other debt securities carried at fair value | 23,927 | 120 | (103 | ) | 23,944 | |||||||||||||||||||||||||
Total debt securities carried at fair value | 303,787 | 7,826 | (763 | ) | 310,850 | |||||||||||||||||||||||||
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities | 49,481 | 815 | (26 | ) | 50,270 | |||||||||||||||||||||||||
Total debt securities | $ | 353,268 | $ | 8,641 | $ | (789 | ) | $ | 361,120 | |||||||||||||||||||||
Available-for-sale marketable equity securities (2) | $ | 780 | $ | 732 | $ | — | $ | 1,512 | ||||||||||||||||||||||
(1) | At December 31, 2012, the underlying collateral type included approximately 91 percent prime, six percent Alt-A and three percent subprime. | |||||||||||||||||||||||||||||
(2) | Classified in other assets on the Consolidated Balance Sheet. | |||||||||||||||||||||||||||||
Schedule of Other Debt Securities Carried at Fair Value | The table below presents the components of other debt securities carried at fair value where the changes in fair value are reported in other income (loss) at September 30, 2013 and December 31, 2012. In the three and nine months ended September 30, 2013, the Corporation recorded mark-to-market net losses in other income (loss) of $56 million and $1.6 billion on other debt securities carried at fair value, which excludes the benefit of certain hedges also reported in other income (loss). Amounts in the prior-year periods were insignificant. | |||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value | ||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | — | $ | 491 | ||||||||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 18,626 | 13,073 | ||||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 563 | 929 | ||||||||||||||||||||||||||||
Commercial | 758 | — | ||||||||||||||||||||||||||||
Non-U.S. securities (1) | 11,506 | 9,451 | ||||||||||||||||||||||||||||
Total | $ | 31,453 | $ | 23,944 | ||||||||||||||||||||||||||
(1) | These securities are used to satisfy certain international regulatory liquidity requirements. | |||||||||||||||||||||||||||||
Corporation Recorded Other-Than-Temporary Impairment Losses on AFS Debt Securities | ||||||||||||||||||||||||||||||
Net Impairment Losses Recognized in Earnings | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
(Dollars in millions) | Non-agency | Non-agency Commercial | Total | |||||||||||||||||||||||||||
Residential | MBS | |||||||||||||||||||||||||||||
MBS | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (8 | ) | $ | — | $ | (8 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 1 | — | 1 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (7 | ) | $ | — | $ | (7 | ) | ||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (9 | ) | $ | — | $ | (9 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 3 | — | 3 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (6 | ) | $ | — | $ | (6 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (21 | ) | $ | — | $ | (21 | ) | ||||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 1 | — | 1 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (20 | ) | $ | — | $ | (20 | ) | ||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Total OTTI losses (unrealized and realized) | $ | (64 | ) | $ | (6 | ) | $ | (70 | ) | |||||||||||||||||||||
Unrealized OTTI losses recognized in accumulated OCI | 18 | — | 18 | |||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | (46 | ) | $ | (6 | ) | $ | (52 | ) | |||||||||||||||||||||
Credit Component Recognized in Earnings on Debt Securities for Which a Portion of the Other Than Temporary Loss Remains in OCI | The table below presents a rollforward of the credit losses recognized in earnings for the three and nine months ended September 30, 2013 and 2012 on AFS debt securities that the Corporation does not have the intent to sell or will not more-likely-than-not be required to sell. | |||||||||||||||||||||||||||||
Rollforward of Credit Losses Recognized | ||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Balance, beginning of period | $ | 205 | $ | 246 | $ | 243 | $ | 310 | ||||||||||||||||||||||
Additions for credit losses recognized on AFS debt securities that had no previous impairment losses | 1 | — | 6 | 6 | ||||||||||||||||||||||||||
Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses | 6 | 6 | 14 | 46 | ||||||||||||||||||||||||||
Reductions for AFS debt securities matured, sold or intended to be sold | — | (8 | ) | (51 | ) | (118 | ) | |||||||||||||||||||||||
Balance, September 30 | $ | 212 | $ | 244 | $ | 212 | $ | 244 | ||||||||||||||||||||||
Significant Assumptions Used in the Valuation of Non-Agency Residential MBS | Significant assumptions used in estimating the expected cash flows for measuring credit losses on non-agency residential mortgage-backed securities (RMBS) were as follows at September 30, 2013. | |||||||||||||||||||||||||||||
Significant Assumptions | ||||||||||||||||||||||||||||||
Range (1) | ||||||||||||||||||||||||||||||
Weighted- | 10th | 90th | ||||||||||||||||||||||||||||
average | Percentile (2) | Percentile (2) | ||||||||||||||||||||||||||||
Annual prepayment speed | 10.50% | 1.30% | 22.10% | |||||||||||||||||||||||||||
Loss severity | 45.8 | 16.4 | 59.1 | |||||||||||||||||||||||||||
Life default rate | 44.6 | 1.3 | 99.7 | |||||||||||||||||||||||||||
(1) | Represents the range of inputs/assumptions based upon the underlying collateral. | |||||||||||||||||||||||||||||
(2) | The value of a variable below which the indicated percentile of observations will fall. | |||||||||||||||||||||||||||||
Current Fair Value and Associated Gross Unrealized Losses on Investments | The following tables present the fair value and the associated gross unrealized losses on AFS debt securities with gross unrealized losses at September 30, 2013 and December 31, 2012, and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer. | |||||||||||||||||||||||||||||
Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||||||||
Temporarily impaired AFS debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 781 | $ | (28 | ) | $ | — | $ | — | $ | 781 | $ | (28 | ) | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 117,986 | (3,079 | ) | 2,870 | (118 | ) | 120,856 | (3,197 | ) | |||||||||||||||||||||
Agency-collateralized mortgage obligations | 6,417 | (121 | ) | 2,666 | (71 | ) | 9,083 | (192 | ) | |||||||||||||||||||||
Non-agency residential | 921 | (19 | ) | 1,293 | (77 | ) | 2,214 | (96 | ) | |||||||||||||||||||||
Commercial | 274 | (8 | ) | — | — | 274 | (8 | ) | ||||||||||||||||||||||
Non-U.S. securities | — | — | 48 | (12 | ) | 48 | (12 | ) | ||||||||||||||||||||||
Corporate/Agency bonds | 59 | (1 | ) | 279 | (9 | ) | 338 | (10 | ) | |||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 1,392 | (3 | ) | 299 | (3 | ) | 1,691 | (6 | ) | |||||||||||||||||||||
Total taxable securities | 127,830 | (3,259 | ) | 7,455 | (290 | ) | 135,285 | (3,549 | ) | |||||||||||||||||||||
Tax-exempt securities | 1,439 | (14 | ) | 1,004 | (22 | ) | 2,443 | (36 | ) | |||||||||||||||||||||
Total temporarily impaired AFS debt securities | 129,269 | (3,273 | ) | 8,459 | (312 | ) | 137,728 | (3,585 | ) | |||||||||||||||||||||
Other-than-temporarily impaired AFS debt securities (1) | ||||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | — | — | 2 | (2 | ) | 2 | (2 | ) | ||||||||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired AFS debt securities (2) | $ | 129,269 | $ | (3,273 | ) | $ | 8,461 | $ | (314 | ) | $ | 137,730 | $ | (3,587 | ) | |||||||||||||||
(1) | Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI. | |||||||||||||||||||||||||||||
(2) | At September 30, 2013, the amortized cost of approximately 4,900 AFS debt securities exceeded their fair value by $3.6 billion. | |||||||||||||||||||||||||||||
Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
(Dollars in millions) | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||||||||
Temporarily impaired AFS debt securities | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | — | $ | — | $ | 5,608 | $ | (84 | ) | $ | 5,608 | $ | (84 | ) | ||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 15,593 | (133 | ) | 735 | (13 | ) | 16,328 | (146 | ) | |||||||||||||||||||||
Agency-collateralized mortgage obligations | 5,135 | (121 | ) | 4,994 | (97 | ) | 10,129 | (218 | ) | |||||||||||||||||||||
Non-agency residential | 592 | (13 | ) | 1,555 | (110 | ) | 2,147 | (123 | ) | |||||||||||||||||||||
Non-U.S. securities | 1,715 | (1 | ) | 563 | (5 | ) | 2,278 | (6 | ) | |||||||||||||||||||||
Corporate/Agency bonds | — | — | 277 | (16 | ) | 277 | (16 | ) | ||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 1,678 | (1 | ) | 1,436 | (14 | ) | 3,114 | (15 | ) | |||||||||||||||||||||
Total taxable securities | 24,713 | (269 | ) | 15,168 | (339 | ) | 39,881 | (608 | ) | |||||||||||||||||||||
Tax-exempt securities | 1,609 | (9 | ) | 1,072 | (38 | ) | 2,681 | (47 | ) | |||||||||||||||||||||
Total temporarily impaired AFS debt securities | 26,322 | (278 | ) | 16,240 | (377 | ) | 42,562 | (655 | ) | |||||||||||||||||||||
Other-than-temporarily impaired AFS debt securities (1) | ||||||||||||||||||||||||||||||
Non-agency residential mortgage-backed securities | 14 | (1 | ) | 74 | (4 | ) | 88 | (5 | ) | |||||||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired AFS debt securities (2) | $ | 26,336 | $ | (279 | ) | $ | 16,314 | $ | (381 | ) | $ | 42,650 | $ | (660 | ) | |||||||||||||||
(1) | Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI. | |||||||||||||||||||||||||||||
(2) | At December 31, 2012, the amortized cost of approximately 2,600 AFS debt securities exceeded their fair value by $660 million. | |||||||||||||||||||||||||||||
Amortized Cost And Fair Value Of Corporations Investment | The amortized cost and fair value of the Corporation's debt securities carried at fair value and HTM debt securities from Fannie Mae (FNMA), the Government National Mortgage Association (GNMA) and Freddie Mac (FHLMC), where the investment exceeded 10 percent of consolidated shareholders' equity at September 30, 2013 and December 31, 2012, are presented in the table below. | |||||||||||||||||||||||||||||
Selected Securities Exceeding 10 Percent of Shareholders' Equity | ||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||
(Dollars in millions) | Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||||||
Fannie Mae | $ | 134,317 | $ | 131,689 | $ | 121,522 | $ | 123,933 | ||||||||||||||||||||||
Government National Mortgage Association | 114,509 | 113,138 | 124,348 | 127,541 | ||||||||||||||||||||||||||
Freddie Mac | 26,096 | 25,724 | 22,995 | 23,502 | ||||||||||||||||||||||||||
Expected Maturity Distribution | The expected maturity distribution of the Corporation's MBS, the contractual maturity distribution of the Corporation's debt securities carried at fair value and HTM debt securities, and the yields on the Corporation's debt securities carried at fair value and HTM debt securities at September 30, 2013 are summarized in the table below. Actual maturities may differ from the contractual or expected maturities since borrowers may have the right to prepay obligations with or without prepayment penalties. | |||||||||||||||||||||||||||||
Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities | ||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Due in One | Due after One Year | Due after Five | Due after | Total | ||||||||||||||||||||||||||
Year or Less | through Five Years | Years through Ten Years | Ten Years | |||||||||||||||||||||||||||
(Dollars in millions) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | Amount | Yield (1) | ||||||||||||||||||||
Amortized cost of debt securities carried at fair value | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 544 | 0.62 | % | $ | 810 | 2.22 | % | $ | 1,505 | 4.25 | % | $ | 13 | 2.72 | % | $ | 2,872 | 2.98 | % | ||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 14 | 4.58 | 16,868 | 2.89 | 99,186 | 3.1 | 74,405 | 2.9 | 190,473 | 3.01 | ||||||||||||||||||||
Agency-collateralized mortgage obligations | 1,525 | 0.04 | 6,315 | 1.48 | 19,816 | 3.26 | 12 | 1.39 | 27,668 | 2.67 | ||||||||||||||||||||
Non-agency residential | 366 | 4.8 | 3,788 | 4.54 | 1,868 | 3.51 | 766 | 2.82 | 6,788 | 4.07 | ||||||||||||||||||||
Commercial | 1,721 | 5.08 | 736 | 5.46 | 1,092 | 2.51 | 18 | 3.45 | 3,567 | 4.37 | ||||||||||||||||||||
Non-U.S. securities | 15,411 | 1.02 | 2,152 | 3.91 | 152 | 3.06 | 8 | — | 17,723 | 1.38 | ||||||||||||||||||||
Corporate/Agency bonds | 442 | 2.49 | 564 | 2.66 | 144 | 4.31 | 2 | 6.34 | 1,152 | 2.79 | ||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 4,313 | 1.61 | 5,804 | 1.45 | 2,223 | 1.97 | 802 | 1.04 | 13,142 | 1.57 | ||||||||||||||||||||
Total taxable securities | 24,336 | 1.42 | 37,037 | 2.68 | 125,986 | 3.12 | 76,026 | 2.88 | 263,385 | 2.84 | ||||||||||||||||||||
Tax-exempt securities | 436 | 1.21 | 1,875 | 1.56 | 1,791 | 1.91 | 1,162 | 0.77 | 5,264 | 1.57 | ||||||||||||||||||||
Total amortized cost of debt securities carried at fair value | $ | 24,772 | 1.42 | $ | 38,912 | 2.62 | $ | 127,777 | 3.11 | $ | 77,188 | 2.85 | $ | 268,649 | 2.81 | |||||||||||||||
Amortized cost of HTM debt securities (2) | $ | 6 | 5 | $ | 76 | 2.29 | $ | 53,394 | 2.56 | $ | 1,173 | 2.67 | $ | 54,649 | 2.56 | |||||||||||||||
Debt securities carried at fair value | ||||||||||||||||||||||||||||||
U.S. Treasury and agency securities | $ | 546 | $ | 830 | $ | 1,582 | $ | 13 | $ | 2,971 | ||||||||||||||||||||
Mortgage-backed securities: | ||||||||||||||||||||||||||||||
Agency | 16 | 17,052 | 98,361 | 72,222 | 187,651 | |||||||||||||||||||||||||
Agency-collateralized mortgage obligations | 1,533 | 6,300 | 20,052 | 13 | 27,898 | |||||||||||||||||||||||||
Non-agency residential | 373 | 3,892 | 1,867 | 797 | 6,929 | |||||||||||||||||||||||||
Commercial | 1,759 | 778 | 1,030 | 18 | 3,585 | |||||||||||||||||||||||||
Non-U.S. securities | 15,396 | 2,185 | 157 | 8 | 17,746 | |||||||||||||||||||||||||
Corporate/Agency bonds | 446 | 573 | 148 | 3 | 1,170 | |||||||||||||||||||||||||
Other taxable securities, substantially all asset-backed securities | 4,309 | 5,821 | 2,232 | 803 | 13,165 | |||||||||||||||||||||||||
Total taxable securities | 24,378 | 37,431 | 125,429 | 73,877 | 261,115 | |||||||||||||||||||||||||
Tax-exempt securities | 436 | 1,880 | 1,779 | 1,139 | 5,234 | |||||||||||||||||||||||||
Total debt securities carried at fair value | $ | 24,814 | $ | 39,311 | $ | 127,208 | $ | 75,016 | $ | 266,349 | ||||||||||||||||||||
Fair value of HTM debt securities (2) | $ | 6 | $ | 76 | $ | 51,643 | $ | 1,126 | $ | 52,851 | ||||||||||||||||||||
(1) | Average yield is computed using the effective yield of each security at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and excludes the effect of related hedging derivatives. | |||||||||||||||||||||||||||||
(2) | Substantially all U.S. agency MBS. | |||||||||||||||||||||||||||||
Components of Realized Gains and Losses on Sales of Debt Securities | The gross realized gains and losses on sales of AFS debt securities for the three and nine months ended September 30, 2013 and 2012 are presented in the table below. | |||||||||||||||||||||||||||||
Gains and Losses on Sales of AFS Debt Securities | ||||||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Gross gains | $ | 358 | $ | 361 | $ | 901 | $ | 1,957 | ||||||||||||||||||||||
Gross losses | (2 | ) | (22 | ) | (20 | ) | (466 | ) | ||||||||||||||||||||||
Net gains on sales of AFS debt securities | $ | 356 | $ | 339 | $ | 881 | $ | 1,491 | ||||||||||||||||||||||
Income tax expense attributable to realized net gains on sales of AFS debt securities | $ | 132 | $ | 125 | $ | 326 | $ | 552 | ||||||||||||||||||||||
Outstanding_Loans_and_Leases_T
Outstanding Loans and Leases (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Net of Deferred Income [Abstract] | |||||||||||||||||||||||||||||||||
Loans And Leases Outstanding | The following tables present total outstanding loans and leases and an aging analysis for the Corporation's Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | 30-59 Days | 60-89 Days | 90 Days or | Total | Total Current | Purchased | Loans | Total | |||||||||||||||||||||||||
Past Due (1) | Past Due (1) | More Past Due (2) | Past Due | or Less Than 30 | Credit - | Accounted for | Outstandings | ||||||||||||||||||||||||||
30 Days | Days Past Due (3) | impaired (4) | Under the Fair | ||||||||||||||||||||||||||||||
or More | Value Option | ||||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (5) | $ | 2,182 | $ | 766 | $ | 7,452 | $ | 10,400 | $ | 167,108 | $ | 177,508 | |||||||||||||||||||||
Home equity | 230 | 118 | 654 | 1,002 | 54,714 | 55,716 | |||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (6) | 2,952 | 1,485 | 18,793 | 23,230 | 32,694 | $ | 20,064 | 75,988 | |||||||||||||||||||||||||
Home equity | 439 | 234 | 1,289 | 1,962 | 31,871 | 7,104 | 40,937 | ||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | 609 | 454 | 1,049 | 2,112 | 88,168 | 90,280 | |||||||||||||||||||||||||||
Non-U.S. credit card | 67 | 55 | 142 | 264 | 10,819 | 11,083 | |||||||||||||||||||||||||||
Direct/Indirect consumer (7) | 398 | 188 | 456 | 1,042 | 82,993 | 84,035 | |||||||||||||||||||||||||||
Other consumer (8) | 24 | 9 | 19 | 52 | 1,861 | 1,913 | |||||||||||||||||||||||||||
Total consumer loans | 6,901 | 3,309 | 29,854 | 40,064 | 470,228 | 27,168 | 537,460 | ||||||||||||||||||||||||||
Consumer loans accounted for under the fair value option (9) | $ | 2,186 | 2,186 | ||||||||||||||||||||||||||||||
Total consumer | 6,901 | 3,309 | 29,854 | 40,064 | 470,228 | 27,168 | 2,186 | 539,646 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 187 | 124 | 445 | 756 | 210,358 | 211,114 | |||||||||||||||||||||||||||
Commercial real estate (10) | 44 | 108 | 440 | 592 | 44,348 | 44,940 | |||||||||||||||||||||||||||
Commercial lease financing | 29 | 53 | 72 | 154 | 24,435 | 24,589 | |||||||||||||||||||||||||||
Non-U.S. commercial | 286 | 1 | 3 | 290 | 92,655 | 92,945 | |||||||||||||||||||||||||||
U.S. small business commercial | 71 | 58 | 128 | 257 | 12,891 | 13,148 | |||||||||||||||||||||||||||
Total commercial loans | 617 | 344 | 1,088 | 2,049 | 384,687 | 386,736 | |||||||||||||||||||||||||||
Commercial loans accounted for under the fair value option (9) | 8,010 | 8,010 | |||||||||||||||||||||||||||||||
Total commercial | 617 | 344 | 1,088 | 2,049 | 384,687 | 8,010 | 394,746 | ||||||||||||||||||||||||||
Total loans and leases | $ | 7,518 | $ | 3,653 | $ | 30,942 | $ | 42,113 | $ | 854,915 | $ | 27,168 | $ | 10,196 | $ | 934,392 | |||||||||||||||||
Percentage of outstandings | 0.81 | % | 0.39 | % | 3.31 | % | 4.51 | % | 91.49 | % | 2.91 | % | 1.09 | % | |||||||||||||||||||
(1) | Home loans 30-59 days past due includes fully-insured loans of $2.6 billion and nonperforming loans of $736 million. Home loans 60-89 days past due includes fully-insured loans of $1.2 billion and nonperforming loans of $494 million. | ||||||||||||||||||||||||||||||||
(2) | Home loans includes fully-insured loans of $18.0 billion. | ||||||||||||||||||||||||||||||||
(3) | Home loans includes $6.2 billion and direct/indirect consumer includes $39 million of nonperforming loans. | ||||||||||||||||||||||||||||||||
(4) | PCI loan amounts are shown gross of the valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Total outstandings includes non-U.S. residential mortgage loans of $87 million. | ||||||||||||||||||||||||||||||||
(6) | Total outstandings includes pay option loans of $5.2 billion. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(7) | Total outstandings includes dealer financial services loans of $39.5 billion, consumer lending loans of $3.1 billion, U.S. securities-based lending loans of $30.4 billion, non-U.S. consumer loans of $5.7 billion, student loans of $4.3 billion and other consumer loans of $1.0 billion. | ||||||||||||||||||||||||||||||||
(8) | Total outstandings includes consumer finance loans of $1.2 billion, consumer leases of $492 million, consumer overdrafts of $175 million and other non-U.S. consumer loans of $5 million. | ||||||||||||||||||||||||||||||||
(9) | Consumer loans accounted for under the fair value option were residential mortgage loans of $2.2 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.8 billion and non-U.S. commercial loans of $6.2 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | ||||||||||||||||||||||||||||||||
(10) | Total outstandings includes U.S. commercial real estate loans of $43.5 billion and non-U.S. commercial real estate loans of $1.4 billion. | ||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | 30-59 Days | 60-89 Days | 90 Days or | Total | Total Current | Purchased | Loans | Total | |||||||||||||||||||||||||
Past Due (1) | Past Due (1) | More Past Due (2) | Past Due | or Less Than 30 | Credit - | Accounted for | Outstandings | ||||||||||||||||||||||||||
30 Days | Days Past Due (3) | impaired (4) | Under the Fair | ||||||||||||||||||||||||||||||
or More | Value Option | ||||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (5) | $ | 2,274 | $ | 806 | $ | 6,227 | $ | 9,307 | $ | 160,809 | $ | 170,116 | |||||||||||||||||||||
Home equity | 273 | 146 | 591 | 1,010 | 59,841 | 60,851 | |||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (6) | 2,938 | 1,714 | 26,728 | 31,380 | 33,982 | $ | 17,451 | 82,813 | |||||||||||||||||||||||||
Home equity | 608 | 357 | 1,444 | 2,409 | 36,213 | 8,667 | 47,289 | ||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | 729 | 582 | 1,437 | 2,748 | 92,087 | 94,835 | |||||||||||||||||||||||||||
Non-U.S. credit card | 106 | 85 | 212 | 403 | 11,294 | 11,697 | |||||||||||||||||||||||||||
Direct/Indirect consumer (7) | 569 | 239 | 573 | 1,381 | 81,824 | 83,205 | |||||||||||||||||||||||||||
Other consumer (8) | 48 | 19 | 4 | 71 | 1,557 | 1,628 | |||||||||||||||||||||||||||
Total consumer loans | 7,545 | 3,948 | 37,216 | 48,709 | 477,607 | 26,118 | 552,434 | ||||||||||||||||||||||||||
Consumer loans accounted for under the fair value option (9) | $ | 1,005 | 1,005 | ||||||||||||||||||||||||||||||
Total consumer | 7,545 | 3,948 | 37,216 | 48,709 | 477,607 | 26,118 | 1,005 | 553,439 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 323 | 133 | 639 | 1,095 | 196,031 | 197,126 | |||||||||||||||||||||||||||
Commercial real estate (10) | 79 | 144 | 983 | 1,206 | 37,431 | 38,637 | |||||||||||||||||||||||||||
Commercial lease financing | 84 | 79 | 30 | 193 | 23,650 | 23,843 | |||||||||||||||||||||||||||
Non-U.S. commercial | 2 | — | — | 2 | 74,182 | 74,184 | |||||||||||||||||||||||||||
U.S. small business commercial | 101 | 75 | 168 | 344 | 12,249 | 12,593 | |||||||||||||||||||||||||||
Total commercial loans | 589 | 431 | 1,820 | 2,840 | 343,543 | 346,383 | |||||||||||||||||||||||||||
Commercial loans accounted for under the fair value option (9) | 7,997 | 7,997 | |||||||||||||||||||||||||||||||
Total commercial | 589 | 431 | 1,820 | 2,840 | 343,543 | 7,997 | 354,380 | ||||||||||||||||||||||||||
Total loans and leases | $ | 8,134 | $ | 4,379 | $ | 39,036 | $ | 51,549 | $ | 821,150 | $ | 26,118 | $ | 9,002 | $ | 907,819 | |||||||||||||||||
Percentage of outstandings | 0.9 | % | 0.48 | % | 4.3 | % | 5.68 | % | 90.45 | % | 2.88 | % | 0.99 | % | |||||||||||||||||||
(1) | Home loans 30-59 days past due includes fully-insured loans of $2.3 billion and nonperforming loans of $702 million. Home loans 60-89 days past due includes fully-insured loans of $1.3 billion and nonperforming loans of $558 million. | ||||||||||||||||||||||||||||||||
(2) | Home loans includes fully-insured loans of $22.2 billion. | ||||||||||||||||||||||||||||||||
(3) | Home loans includes $5.5 billion and direct/indirect consumer includes $63 million of nonperforming loans. | ||||||||||||||||||||||||||||||||
(4) | PCI loan amounts are shown gross of the valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Total outstandings includes non-U.S. residential mortgage loans of $93 million. | ||||||||||||||||||||||||||||||||
(6) | Total outstandings includes pay option loans of $6.7 billion. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(7) | Total outstandings includes dealer financial services loans of $35.9 billion, consumer lending loans of $4.7 billion, U.S. securities-based lending loans of $28.3 billion, non-U.S. consumer loans of $8.3 billion, student loans of $4.8 billion and other consumer loans of $1.2 billion. | ||||||||||||||||||||||||||||||||
(8) | Total outstandings includes consumer finance loans of $1.4 billion, consumer leases of $34 million, consumer overdrafts of $177 million and other non-U.S. consumer loans of $5 million. | ||||||||||||||||||||||||||||||||
(9) | Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | ||||||||||||||||||||||||||||||||
(10) | Total outstandings includes U.S. commercial real estate loans of $37.2 billion and non-U.S. commercial real estate loans of $1.5 billion. | ||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status | The table below presents the Corporation's nonperforming loans and leases including nonperforming TDRs, and loans accruing past due 90 days or more at September 30, 2013 and December 31, 2012. Nonperforming loans held-for-sale (LHFS) are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | ||||||||||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||||||||||
Nonperforming Loans and Leases (1) | Accruing Past Due 90 Days or More | ||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Home loans | |||||||||||||||||||||||||||||||||
Core portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (2) | $ | 3,479 | $ | 3,193 | $ | 5,207 | $ | 3,984 | |||||||||||||||||||||||||
Home equity | 1,417 | 1,265 | — | — | |||||||||||||||||||||||||||||
Legacy Assets & Servicing portfolio | |||||||||||||||||||||||||||||||||
Residential mortgage (2) | 9,849 | 11,862 | 12,753 | 18,173 | |||||||||||||||||||||||||||||
Home equity | 2,759 | 3,017 | — | — | |||||||||||||||||||||||||||||
Credit card and other consumer | |||||||||||||||||||||||||||||||||
U.S. credit card | n/a | n/a | 1,049 | 1,437 | |||||||||||||||||||||||||||||
Non-U.S. credit card | n/a | n/a | 142 | 212 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 59 | 92 | 437 | 545 | |||||||||||||||||||||||||||||
Other consumer | 18 | 2 | 1 | 2 | |||||||||||||||||||||||||||||
Total consumer | 17,581 | 19,431 | 19,589 | 24,353 | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
U.S. commercial | 1,059 | 1,484 | 57 | 65 | |||||||||||||||||||||||||||||
Commercial real estate | 488 | 1,513 | 76 | 29 | |||||||||||||||||||||||||||||
Commercial lease financing | 49 | 44 | 66 | 15 | |||||||||||||||||||||||||||||
Non-U.S. commercial | 86 | 68 | 3 | — | |||||||||||||||||||||||||||||
U.S. small business commercial | 103 | 115 | 83 | 120 | |||||||||||||||||||||||||||||
Total commercial | 1,785 | 3,224 | 285 | 229 | |||||||||||||||||||||||||||||
Total loans and leases | $ | 19,366 | $ | 22,655 | $ | 19,874 | $ | 24,582 | |||||||||||||||||||||||||
(1) | Nonperforming loan balances did not include nonaccruing TDRs removed from the PCI loan portfolio prior to January 1, 2010 of $356 million and $521 million at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
(2) | Residential mortgage loans in the Core and Legacy Assets & Servicing portfolios accruing past due 90 days or more are fully-insured loans. At September 30, 2013 and December 31, 2012, residential mortgage includes $13.9 billion and $17.8 billion of loans on which interest has been curtailed by the FHA, and therefore are no longer accruing interest, although principal is still insured, and $4.1 billion and $4.4 billion of loans on which interest is still accruing. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | The following tables present certain credit quality indicators for the Corporation's Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
Home Loans – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Core Portfolio Residential Mortgage (2) | Legacy Assets & Servicing Residential Mortgage (2) | Residential | Core Portfolio Home Equity (2) | Legacy Assets & Servicing Home Equity (2) | Home | |||||||||||||||||||||||||||
Mortgage PCI (3) | Equity PCI | ||||||||||||||||||||||||||||||||
Refreshed LTV (4) | |||||||||||||||||||||||||||||||||
Less than or equal to 90 percent | $ | 92,172 | $ | 22,199 | $ | 10,760 | $ | 44,827 | $ | 15,827 | $ | 1,963 | |||||||||||||||||||||
Greater than 90 percent but less than or equal to 100 percent | 6,983 | 4,526 | 3,011 | 4,374 | 4,290 | 668 | |||||||||||||||||||||||||||
Greater than 100 percent | 8,212 | 10,466 | 6,293 | 6,515 | 13,716 | 4,473 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 70,141 | 18,733 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 177,508 | $ | 55,924 | $ | 20,064 | $ | 55,716 | $ | 33,833 | $ | 7,104 | |||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,032 | $ | 11,770 | $ | 10,871 | $ | 2,413 | $ | 4,478 | $ | 1,296 | |||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 7,955 | 5,919 | 3,363 | 4,187 | 5,240 | 1,272 | |||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 25,097 | 8,133 | 3,056 | 11,840 | 9,414 | 2,018 | |||||||||||||||||||||||||||
Greater than or equal to 740 | 68,283 | 11,369 | 2,774 | 37,276 | 14,701 | 2,518 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 70,141 | 18,733 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 177,508 | $ | 55,924 | $ | 20,064 | $ | 55,716 | $ | 33,833 | $ | 7,104 | |||||||||||||||||||||
(1) | Excludes $2.2 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | Excludes PCI loans. | ||||||||||||||||||||||||||||||||
(3) | Includes $4.7 billion of pay option loans. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(4) | Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Credit Quality Indicators | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. Credit | Non-U.S. | Direct/Indirect | Other | |||||||||||||||||||||||||||||
Card | Credit Card | Consumer | Consumer (1) | ||||||||||||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 5,112 | $ | — | $ | 1,293 | $ | 571 | |||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 13,106 | — | 3,264 | 273 | |||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 36,054 | — | 10,087 | 205 | |||||||||||||||||||||||||||||
Greater than or equal to 740 | 36,008 | — | 27,419 | 193 | |||||||||||||||||||||||||||||
Other internal credit metrics (2, 3, 4) | — | 11,083 | 41,972 | 671 | |||||||||||||||||||||||||||||
Total credit card and other consumer | $ | 90,280 | $ | 11,083 | $ | 84,035 | $ | 1,913 | |||||||||||||||||||||||||
(1) | 65 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | ||||||||||||||||||||||||||||||||
(2) | Other internal credit metrics may include delinquency status, geography or other factors. | ||||||||||||||||||||||||||||||||
(3) | Direct/indirect consumer includes $36.0 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.3 billion of loans the Corporation no longer originates. | ||||||||||||||||||||||||||||||||
(4) | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At September 30, 2013, 98 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and one percent was 90 days or more past due. | ||||||||||||||||||||||||||||||||
Commercial – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. | Commercial | Commercial | Non-U.S. | U.S. Small | ||||||||||||||||||||||||||||
Commercial | Real Estate | Lease | Commercial | Business | |||||||||||||||||||||||||||||
Financing | Commercial (2) | ||||||||||||||||||||||||||||||||
Risk ratings | |||||||||||||||||||||||||||||||||
Pass rated | $ | 203,620 | $ | 43,135 | $ | 23,500 | $ | 91,399 | $ | 1,313 | |||||||||||||||||||||||
Reservable criticized | 7,494 | 1,805 | 1,089 | 1,546 | 391 | ||||||||||||||||||||||||||||
Refreshed FICO score (3) | |||||||||||||||||||||||||||||||||
Less than 620 | 235 | ||||||||||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 548 | ||||||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 1,594 | ||||||||||||||||||||||||||||||||
Greater than or equal to 740 | 2,820 | ||||||||||||||||||||||||||||||||
Other internal credit metrics (3, 4) | 6,247 | ||||||||||||||||||||||||||||||||
Total commercial | $ | 211,114 | $ | 44,940 | $ | 24,589 | $ | 92,945 | $ | 13,148 | |||||||||||||||||||||||
(1) | Excludes $8.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | U.S. small business commercial includes $295 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At September 30, 2013, 99 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | ||||||||||||||||||||||||||||||||
(3) | Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. | ||||||||||||||||||||||||||||||||
(4) | Other internal credit metrics may include delinquency status, application scores, geography or other factors. | ||||||||||||||||||||||||||||||||
Home Loans – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Core Portfolio | Legacy Assets & Servicing | Residential | Core Portfolio Home Equity (2) | Legacy Assets & Servicing Home | Home | |||||||||||||||||||||||||||
Residential | Residential Mortgage (2) | Mortgage PCI (3) | Equity (2) | Equity PCI | |||||||||||||||||||||||||||||
Mortgage (2) | |||||||||||||||||||||||||||||||||
Refreshed LTV (4) | |||||||||||||||||||||||||||||||||
Less than or equal to 90 percent | $ | 80,585 | $ | 20,613 | $ | 8,581 | $ | 44,971 | $ | 15,922 | $ | 2,074 | |||||||||||||||||||||
Greater than 90 percent but less than or equal to 100 percent | 8,891 | 5,097 | 2,368 | 5,825 | 4,507 | 805 | |||||||||||||||||||||||||||
Greater than 100 percent | 12,984 | 16,454 | 6,502 | 10,055 | 18,193 | 5,788 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 67,656 | 23,198 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 170,116 | $ | 65,362 | $ | 17,451 | $ | 60,851 | $ | 38,622 | $ | 8,667 | |||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,366 | $ | 14,320 | $ | 8,647 | $ | 2,586 | $ | 5,411 | $ | 1,989 | |||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 8,561 | 6,157 | 2,712 | 4,500 | 5,921 | 1,529 | |||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 25,141 | 8,611 | 2,976 | 12,625 | 10,395 | 2,299 | |||||||||||||||||||||||||||
Greater than or equal to 740 | 62,392 | 13,076 | 3,116 | 41,140 | 16,895 | 2,850 | |||||||||||||||||||||||||||
Fully-insured loans (5) | 67,656 | 23,198 | — | — | — | — | |||||||||||||||||||||||||||
Total home loans | $ | 170,116 | $ | 65,362 | $ | 17,451 | $ | 60,851 | $ | 38,622 | $ | 8,667 | |||||||||||||||||||||
(1) | Excludes $1.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | Excludes PCI loans. | ||||||||||||||||||||||||||||||||
(3) | Includes $6.1 billion of pay option loans. The Corporation no longer originates this product. | ||||||||||||||||||||||||||||||||
(4) | Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. | ||||||||||||||||||||||||||||||||
(5) | Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Credit Quality Indicators | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. Credit | Non-U.S. | Direct/Indirect | Other | |||||||||||||||||||||||||||||
Card | Credit Card | Consumer | Consumer (1) | ||||||||||||||||||||||||||||||
Refreshed FICO score | |||||||||||||||||||||||||||||||||
Less than 620 | $ | 6,188 | $ | — | $ | 1,896 | $ | 668 | |||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 13,947 | — | 3,367 | 301 | |||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 37,167 | — | 9,592 | 232 | |||||||||||||||||||||||||||||
Greater than or equal to 740 | 37,533 | — | 25,164 | 212 | |||||||||||||||||||||||||||||
Other internal credit metrics (2, 3, 4) | — | 11,697 | 43,186 | 215 | |||||||||||||||||||||||||||||
Total credit card and other consumer | $ | 94,835 | $ | 11,697 | $ | 83,205 | $ | 1,628 | |||||||||||||||||||||||||
(1) | 87 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | ||||||||||||||||||||||||||||||||
(2) | Other internal credit metrics may include delinquency status, geography or other factors. | ||||||||||||||||||||||||||||||||
(3) | Direct/indirect consumer includes $36.5 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.8 billion of loans the Corporation no longer originates. | ||||||||||||||||||||||||||||||||
(4) | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2012, 97 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and two percent was 90 days or more past due. | ||||||||||||||||||||||||||||||||
Commercial – Credit Quality Indicators (1) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | U.S. | Commercial Real Estate | Commercial | Non-U.S. | U.S. Small | ||||||||||||||||||||||||||||
Commercial | Lease | Commercial | Business | ||||||||||||||||||||||||||||||
Financing | Commercial (2) | ||||||||||||||||||||||||||||||||
Risk ratings | |||||||||||||||||||||||||||||||||
Pass rated | $ | 189,602 | $ | 34,968 | $ | 22,874 | $ | 72,688 | $ | 1,690 | |||||||||||||||||||||||
Reservable criticized | 7,524 | 3,669 | 969 | 1,496 | 573 | ||||||||||||||||||||||||||||
Refreshed FICO score (3) | |||||||||||||||||||||||||||||||||
Less than 620 | 400 | ||||||||||||||||||||||||||||||||
Greater than or equal to 620 and less than 680 | 580 | ||||||||||||||||||||||||||||||||
Greater than or equal to 680 and less than 740 | 1,553 | ||||||||||||||||||||||||||||||||
Greater than or equal to 740 | 2,496 | ||||||||||||||||||||||||||||||||
Other internal credit metrics (3, 4) | 5,301 | ||||||||||||||||||||||||||||||||
Total commercial | $ | 197,126 | $ | 38,637 | $ | 23,843 | $ | 74,184 | $ | 12,593 | |||||||||||||||||||||||
(1) | Excludes $8.0 billion of loans accounted for under the fair value option. | ||||||||||||||||||||||||||||||||
(2) | U.S. small business commercial includes $366 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2012, 98 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | ||||||||||||||||||||||||||||||||
(3) | Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. | ||||||||||||||||||||||||||||||||
(4) | Other internal credit metrics may include delinquency status, application scores, geography or other factors. | ||||||||||||||||||||||||||||||||
Impaired Loans and Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
Impaired Financing Receivables | The table below presents impaired loans in the Corporation's Home Loans portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012, and includes primarily loans managed by Legacy Assets & Servicing. Certain impaired home loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value. | ||||||||||||||||||||||||||||||||
Impaired Loans – Home Loans | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value | Allowance | Principal | Value | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 22,528 | $ | 17,165 | n/a | $ | 20,226 | $ | 14,967 | n/a | |||||||||||||||||||||||
Home equity | 3,002 | 1,328 | n/a | 2,624 | 1,103 | n/a | |||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 13,793 | $ | 13,227 | $ | 1,141 | $ | 14,223 | $ | 13,158 | $ | 1,252 | |||||||||||||||||||||
Home equity | 1,069 | 886 | 343 | 1,256 | 1,022 | 448 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 36,321 | $ | 30,392 | $ | 1,141 | $ | 34,449 | $ | 28,125 | $ | 1,252 | |||||||||||||||||||||
Home equity | 4,071 | 2,214 | 343 | 3,880 | 2,125 | 448 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (1) | Value | Recognized (1) | Value | Recognized (1) | Value | Recognized (1) | ||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 16,984 | $ | 152 | $ | 11,606 | $ | 88 | $ | 16,563 | $ | 436 | $ | 9,734 | $ | 239 | |||||||||||||||||
Home equity | 1,286 | 19 | 819 | 13 | 1,208 | 55 | 603 | 32 | |||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 14,027 | $ | 173 | $ | 11,435 | $ | 97 | $ | 14,221 | $ | 451 | $ | 11,361 | $ | 305 | |||||||||||||||||
Home equity | 902 | 9 | 1,095 | 12 | 942 | 31 | 1,186 | 34 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 31,011 | $ | 325 | $ | 23,041 | $ | 185 | $ | 30,784 | $ | 887 | $ | 21,095 | $ | 544 | |||||||||||||||||
Home equity | 2,188 | 28 | 1,914 | 25 | 2,150 | 86 | 1,789 | 66 | |||||||||||||||||||||||||
(1) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
Purchased Loans at Acquisition Date | PCI loans are acquired loans with evidence of credit quality deterioration since origination for which it is probable at purchase date that the Corporation will be unable to collect all contractually required payments. The following table provides details on PCI loans acquired in connection with the FNMA Settlement during the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||
Purchased Loans at Acquisition Date | |||||||||||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||||||
Contractually required payments including interest | $ | 8,274 | |||||||||||||||||||||||||||||||
Less: Nonaccretable difference | 2,159 | ||||||||||||||||||||||||||||||||
Cash flows expected to be collected (1) | 6,115 | ||||||||||||||||||||||||||||||||
Less: Accretable yield | 1,125 | ||||||||||||||||||||||||||||||||
Fair value of loans acquired | $ | 4,990 | |||||||||||||||||||||||||||||||
(1) | Represents undiscounted expected principal and interest cash flows at acquisition. | ||||||||||||||||||||||||||||||||
Accretable Yield Activity | The table below shows activity for the accretable yield on PCI loans, which primarily includes the Countrywide Financial Corporation (Countrywide) portfolio and loans repurchased in connection with the FNMA Settlement. For more information on the FNMA Settlement, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees. The amount of accretable yield is affected by changes in credit outlooks, including metrics such as default rates and loss severities, prepayments speeds, which can change the amount and period of time over which interest payments are expected to be received, and the interest rates on variable rate loans. The reclassifications from nonaccretable difference during the three and nine months ended September 30, 2013 were due to increases in expected cash flows driven by improved home prices and lower expected defaults, along with a decrease in prepayment speeds as a result of rising interest rates. Changes in the prepayment assumption affect the expected remaining life of the portfolio which results in a change to the amount of future interest cash flows. | ||||||||||||||||||||||||||||||||
Rollforward of Accretable Yield | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 6,775 | $ | 4,644 | |||||||||||||||||||||||||||||
Accretion | (303 | ) | (901 | ) | |||||||||||||||||||||||||||||
Loans purchased | — | 1,125 | |||||||||||||||||||||||||||||||
Disposals/transfers | (81 | ) | (219 | ) | |||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | 292 | 2,034 | |||||||||||||||||||||||||||||||
Accretable yield, September 30, 2013 | $ | 6,683 | $ | 6,683 | |||||||||||||||||||||||||||||
Consumer Portfolio Segment [Member] | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Net of Deferred Income [Abstract] | |||||||||||||||||||||||||||||||||
Impaired Financing Receivables | The table below provides information on the Corporation's renegotiated TDR portfolio in the Credit Card and Other Consumer portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||||
Impaired Loans – Credit Card and Other Consumer – Renegotiated TDRs | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value (1) | Allowance | Principal | Value (1) | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,706 | $ | 1,716 | $ | 370 | $ | 2,856 | $ | 2,871 | $ | 719 | |||||||||||||||||||||
Non-U.S. credit card | 246 | 250 | 161 | 311 | 316 | 198 | |||||||||||||||||||||||||||
Direct/Indirect consumer | 351 | 352 | 104 | 633 | 636 | 210 | |||||||||||||||||||||||||||
Other consumer | 28 | 27 | 10 | 30 | 30 | 12 | |||||||||||||||||||||||||||
Without an allowance recorded | |||||||||||||||||||||||||||||||||
Direct/Indirect consumer | 81 | 37 | — | 105 | 58 | — | |||||||||||||||||||||||||||
Other consumer | 34 | 34 | — | 35 | 35 | — | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,706 | $ | 1,716 | $ | 370 | $ | 2,856 | $ | 2,871 | $ | 719 | |||||||||||||||||||||
Non-U.S. credit card | 246 | 250 | 161 | 311 | 316 | 198 | |||||||||||||||||||||||||||
Direct/Indirect consumer | 432 | 389 | 104 | 738 | 694 | 210 | |||||||||||||||||||||||||||
Other consumer | 62 | 61 | 10 | 65 | 65 | 12 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | ||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,926 | $ | 30 | $ | 3,727 | $ | 58 | $ | 2,310 | $ | 108 | $ | 4,380 | $ | 204 | |||||||||||||||||
Non-U.S. credit card | 254 | 2 | 447 | 2 | 274 | 6 | 509 | 7 | |||||||||||||||||||||||||
Direct/Indirect consumer | 406 | 5 | 864 | 12 | 498 | 20 | 1,003 | 41 | |||||||||||||||||||||||||
Other consumer | 27 | 1 | 30 | — | 28 | 2 | 32 | 1 | |||||||||||||||||||||||||
Without an allowance recorded | |||||||||||||||||||||||||||||||||
Direct/Indirect consumer | 38 | — | — | — | 45 | — | — | — | |||||||||||||||||||||||||
Other consumer | 34 | — | 34 | 1 | 34 | 1 | 35 | 2 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 1,926 | $ | 30 | $ | 3,727 | $ | 58 | $ | 2,310 | $ | 108 | $ | 4,380 | $ | 204 | |||||||||||||||||
Non-U.S. credit card | 254 | 2 | 447 | 2 | 274 | 6 | 509 | 7 | |||||||||||||||||||||||||
Direct/Indirect consumer | 444 | 5 | 864 | 12 | 543 | 20 | 1,003 | 41 | |||||||||||||||||||||||||
Other consumer | 61 | 1 | 64 | 1 | 62 | 3 | 67 | 3 | |||||||||||||||||||||||||
(1) | Includes accrued interest and fees. | ||||||||||||||||||||||||||||||||
(2) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
Remaining Unpaid Principal Balance, Carrying Amount And Excluding Valuation Reserve | The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs by Program Type | |||||||||||||||||||||||||||||||||
Internal Programs | External Programs | Other | Total | Percent of Balances Current or | |||||||||||||||||||||||||||||
Less Than 30 Days Past Due | |||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. credit card | $ | 1,016 | $ | 1,887 | $ | 681 | $ | 953 | $ | 19 | $ | 31 | $ | 1,716 | $ | 2,871 | 83.74 | % | 81.48 | % | |||||||||||||
Non-U.S. credit card | 78 | 99 | 27 | 38 | 145 | 179 | 250 | 316 | 49.34 | 43.71 | |||||||||||||||||||||||
Direct/Indirect consumer | 215 | 405 | 131 | 225 | 43 | 64 | 389 | 694 | 84.62 | 83.11 | |||||||||||||||||||||||
Other consumer | 61 | 65 | — | — | — | — | 61 | 65 | 73.13 | 72.73 | |||||||||||||||||||||||
Total renegotiated TDRs | $ | 1,370 | $ | 2,456 | $ | 839 | $ | 1,216 | $ | 207 | $ | 274 | $ | 2,416 | $ | 3,946 | 80.04 | 78.58 | |||||||||||||||
Renegotiated Troubled Debt Restructurings By Program Type | The table below provides information on the Corporation's renegotiated TDR portfolio including the unpaid principal balance, carrying value and average pre- and post-modification interest rates of loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Three Months September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Pre-Modification Interest Rate | Post-Modification Interest Rate | Net Charge-offs | ||||||||||||||||||||||||||||
Value (1) | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 100 | $ | 102 | 16.86 | % | 5.7 | % | $ | 2 | |||||||||||||||||||||||
Non-U.S. credit card | 61 | 64 | 26.09 | 0.67 | 2 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 16 | 12 | 10.89 | 4.68 | 4 | ||||||||||||||||||||||||||||
Other consumer | 2 | 2 | 9.1 | 6.01 | — | ||||||||||||||||||||||||||||
Total | $ | 179 | $ | 180 | 19.65 | 3.85 | $ | 8 | |||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 102 | $ | 105 | 17.37 | % | 6.32 | % | $ | 2 | |||||||||||||||||||||||
Non-U.S. credit card | 90 | 94 | 26.13 | 0.77 | 4 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 14 | 14 | 15.4 | 3.9 | 2 | ||||||||||||||||||||||||||||
Other consumer | 2 | 2 | 9.91 | 6.17 | — | ||||||||||||||||||||||||||||
Total | $ | 208 | $ | 215 | 21 | 3.73 | $ | 8 | |||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 237 | $ | 240 | 16.88 | % | 5.96 | % | $ | 16 | |||||||||||||||||||||||
Non-U.S. credit card | 138 | 143 | 26.04 | 0.87 | 78 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 41 | 31 | 11.17 | 4.9 | 12 | ||||||||||||||||||||||||||||
Other consumer | 4 | 5 | 9.35 | 5.4 | — | ||||||||||||||||||||||||||||
Total | $ | 420 | $ | 419 | 19.51 | 4.13 | $ | 106 | |||||||||||||||||||||||||
September 30, 2012 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. credit card | $ | 342 | $ | 346 | 17.73 | % | 6.37 | % | $ | 23 | |||||||||||||||||||||||
Non-U.S. credit card | 194 | 204 | 26.18 | 1.05 | 111 | ||||||||||||||||||||||||||||
Direct/Indirect consumer | 50 | 51 | 15.4 | 4.14 | 3 | ||||||||||||||||||||||||||||
Other consumer | 8 | 8 | 10.01 | 6.62 | — | ||||||||||||||||||||||||||||
Total | $ | 594 | $ | 609 | 20.26 | 4.41 | $ | 137 | |||||||||||||||||||||||||
(1) | Includes accrued interest and fees. | ||||||||||||||||||||||||||||||||
Schedule of Renegotiated Troubled Debt Restructurings Primary Modifications | The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio for loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||||
Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Period by Program Type | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Internal Programs | External Programs | Other | Total | |||||||||||||||||||||||||||||
U.S. credit card | $ | 62 | $ | 40 | $ | — | $ | 102 | |||||||||||||||||||||||||
Non-U.S. credit card | 32 | 32 | — | 64 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 4 | 2 | 6 | 12 | |||||||||||||||||||||||||||||
Other consumer | 2 | — | — | 2 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 100 | $ | 74 | $ | 6 | $ | 180 | |||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 64 | $ | 41 | $ | — | $ | 105 | |||||||||||||||||||||||||
Non-U.S. credit card | 51 | 43 | — | 94 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 9 | 5 | — | 14 | |||||||||||||||||||||||||||||
Other consumer | 2 | — | — | 2 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 126 | $ | 89 | $ | — | $ | 215 | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 132 | $ | 108 | $ | — | $ | 240 | |||||||||||||||||||||||||
Non-U.S. credit card | 73 | 70 | — | 143 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 11 | 7 | 13 | 31 | |||||||||||||||||||||||||||||
Other consumer | 5 | — | — | 5 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 221 | $ | 185 | $ | 13 | $ | 419 | |||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
U.S. credit card | $ | 221 | $ | 125 | $ | — | $ | 346 | |||||||||||||||||||||||||
Non-U.S. credit card | 109 | 95 | — | 204 | |||||||||||||||||||||||||||||
Direct/Indirect consumer | 34 | 17 | — | 51 | |||||||||||||||||||||||||||||
Other consumer | 8 | — | — | 8 | |||||||||||||||||||||||||||||
Total renegotiated TDRs | $ | 372 | $ | 237 | $ | — | $ | 609 | |||||||||||||||||||||||||
Commercial Financing Receivable [Member] | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Net of Deferred Income [Abstract] | |||||||||||||||||||||||||||||||||
Impaired Financing Receivables | The table below presents impaired loans in the Corporation's Commercial loan portfolio segment at September 30, 2013 and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. Certain impaired commercial loans do not have a related allowance as the valuation of these impaired loans exceeded the carrying value, which is net of previously recorded charge-offs. | ||||||||||||||||||||||||||||||||
Impaired Loans – Commercial | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid | Carrying | Related | Unpaid | Carrying | Related | |||||||||||||||||||||||||||
Principal | Value | Allowance | Principal | Value | Allowance | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,036 | $ | 960 | n/a | $ | 1,220 | $ | 1,109 | n/a | |||||||||||||||||||||||
Commercial real estate | 525 | 503 | n/a | 1,003 | 902 | n/a | |||||||||||||||||||||||||||
Non-U.S. commercial | 51 | 40 | n/a | 240 | 120 | n/a | |||||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,292 | $ | 881 | $ | 150 | $ | 1,782 | $ | 1,138 | $ | 159 | |||||||||||||||||||||
Commercial real estate | 1,099 | 702 | 74 | 2,287 | 1,262 | 201 | |||||||||||||||||||||||||||
Non-U.S. commercial | 235 | 57 | 17 | 280 | 33 | 18 | |||||||||||||||||||||||||||
U.S. small business commercial (1) | 224 | 213 | 45 | 361 | 317 | 97 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 2,328 | $ | 1,841 | $ | 150 | $ | 3,002 | $ | 2,247 | $ | 159 | |||||||||||||||||||||
Commercial real estate | 1,624 | 1,205 | 74 | 3,290 | 2,164 | 201 | |||||||||||||||||||||||||||
Non-U.S. commercial | 286 | 97 | 17 | 520 | 153 | 18 | |||||||||||||||||||||||||||
U.S. small business commercial (1) | 224 | 213 | 45 | 361 | 317 | 97 | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Carrying | Income | Carrying | Income | Carrying | Income | Carrying | Income | ||||||||||||||||||||||||||
Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | Value | Recognized (2) | ||||||||||||||||||||||||||
With no recorded allowance | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 957 | $ | 7 | $ | 1,113 | $ | 9 | $ | 998 | $ | 19 | $ | 1,078 | $ | 26 | |||||||||||||||||
Commercial real estate | 525 | 3 | 1,318 | 4 | 670 | 10 | 1,661 | 12 | |||||||||||||||||||||||||
Non-U.S. commercial | 65 | — | 140 | 1 | 102 | 3 | 130 | 1 | |||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 928 | $ | 5 | $ | 1,457 | $ | 7 | $ | 1,051 | $ | 20 | $ | 1,727 | $ | 25 | |||||||||||||||||
Commercial real estate | 661 | 5 | 1,552 | 3 | 880 | 14 | 1,865 | 13 | |||||||||||||||||||||||||
Non-U.S. commercial | 68 | — | 50 | 1 | 55 | 2 | 56 | 2 | |||||||||||||||||||||||||
U.S. small business commercial (1) | 218 | 1 | 392 | 3 | 253 | 5 | 433 | 10 | |||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 1,885 | $ | 12 | $ | 2,570 | $ | 16 | $ | 2,049 | $ | 39 | $ | 2,805 | $ | 51 | |||||||||||||||||
Commercial real estate | 1,186 | 8 | 2,870 | 7 | 1,550 | 24 | 3,526 | 25 | |||||||||||||||||||||||||
Non-U.S. commercial | 133 | — | 190 | 2 | 157 | 5 | 186 | 3 | |||||||||||||||||||||||||
U.S. small business commercial (1) | 218 | 1 | 392 | 3 | 253 | 5 | 433 | 10 | |||||||||||||||||||||||||
(1) | Includes U.S. small business commercial renegotiated TDR loans and related allowance. | ||||||||||||||||||||||||||||||||
(2) | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. | ||||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||||
Remaining Unpaid Principal Balance, Carrying Amount And Excluding Valuation Reserve | The table below presents the September 30, 2013 and 2012 unpaid principal balance and carrying value of commercial loans that were modified as TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. The table below includes loans that were initially classified as TDRs during the period and, beginning in the first quarter of 2013, also loans that had previously been classified as TDRs and were modified again during the period. | ||||||||||||||||||||||||||||||||
Commercial – TDRs Entered into During the Three Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Net Charge-offs | ||||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||||||
U.S. commercial | $ | 361 | $ | 357 | $ | 27 | |||||||||||||||||||||||||||
Commercial real estate | 305 | 284 | — | ||||||||||||||||||||||||||||||
Non-U.S. commercial | — | — | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 2 | 3 | — | ||||||||||||||||||||||||||||||
Total | $ | 668 | $ | 644 | $ | 27 | |||||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 152 | $ | 143 | $ | — | |||||||||||||||||||||||||||
Commercial real estate | 373 | 350 | 5 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 22 | 22 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 5 | 6 | 1 | ||||||||||||||||||||||||||||||
Total | $ | 552 | $ | 521 | $ | 6 | |||||||||||||||||||||||||||
Commercial – TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 853 | $ | 771 | $ | 28 | |||||||||||||||||||||||||||
Commercial real estate | 615 | 569 | 3 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 21 | 7 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 7 | 7 | 1 | ||||||||||||||||||||||||||||||
Total | $ | 1,496 | $ | 1,354 | $ | 32 | |||||||||||||||||||||||||||
September 30, 2012 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
U.S. commercial | $ | 558 | $ | 534 | $ | 15 | |||||||||||||||||||||||||||
Commercial real estate | 737 | 695 | 12 | ||||||||||||||||||||||||||||||
Non-U.S. commercial | 87 | 87 | — | ||||||||||||||||||||||||||||||
U.S. small business commercial (1) | 20 | 20 | 3 | ||||||||||||||||||||||||||||||
Total | $ | 1,402 | $ | 1,336 | $ | 30 | |||||||||||||||||||||||||||
(1) | U.S. small business commercial TDRs are comprised of renegotiated small business card loans. | ||||||||||||||||||||||||||||||||
Residential Mortgage [Member] | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Net of Deferred Income [Abstract] | |||||||||||||||||||||||||||||||||
Remaining Unpaid Principal Balance, Carrying Amount And Excluding Valuation Reserve | The table below presents the September 30, 2013 and 2012 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of home loans that were modified in TDRs during the three and nine months ended September 30, 2013 and 2012, and net charge-offs that were recorded during the period in which the modification occurred. The following Home Loans portfolio segment tables include loans that were initially classified as TDRs during the period and also loans that had previously been classified as TDRs and were modified again during the period. These TDRs are managed by Legacy Assets & Servicing. | ||||||||||||||||||||||||||||||||
Home Loans – TDRs Entered into During the Three Months Ended September 30, 2013 and 2012 (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
(Dollars in millions) | Unpaid Principal Balance | Carrying | Pre-Modification Interest Rate | Post-Modification Interest Rate | Net Charge-offs | ||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||||||
Residential mortgage | $ | 3,275 | $ | 2,947 | 5.22 | % | 4.52 | % | $ | 64 | |||||||||||||||||||||||
Home equity | 220 | 147 | 5.58 | 4.33 | 36 | ||||||||||||||||||||||||||||
Total | $ | 3,495 | $ | 3,094 | 5.22 | 4.51 | $ | 100 | |||||||||||||||||||||||||
30-Sep-12 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 7,823 | $ | 6,250 | 5.66 | % | 4.31 | % | $ | 129 | |||||||||||||||||||||||
Home equity | 1,570 | 689 | 4.69 | 4.54 | 479 | ||||||||||||||||||||||||||||
Total | $ | 9,393 | $ | 6,939 | 5.51 | 4.34 | $ | 608 | |||||||||||||||||||||||||
Home Loans – TDRs Entered into During the Nine Months Ended September 30, 2013 and 2012 (1) | |||||||||||||||||||||||||||||||||
September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 10,295 | $ | 9,153 | 5.34 | % | 4.34 | % | $ | 169 | |||||||||||||||||||||||
Home equity | 706 | 425 | 5.55 | 4.17 | 139 | ||||||||||||||||||||||||||||
Total | $ | 11,001 | $ | 9,578 | 5.35 | 4.34 | $ | 308 | |||||||||||||||||||||||||
30-Sep-12 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||
Residential mortgage | $ | 10,064 | $ | 8,179 | 5.62 | % | 4.29 | % | $ | 277 | |||||||||||||||||||||||
Home equity | 1,759 | 785 | 4.69 | 4.32 | 577 | ||||||||||||||||||||||||||||
Total | $ | 11,823 | $ | 8,964 | 5.48 | 4.3 | $ | 854 | |||||||||||||||||||||||||
(1) | TDRs entered into during the three and nine months ended September 30, 2013 include residential mortgage modifications with principal forgiveness of $118 million and $462 million. TDRs entered into during the three and nine months ended September 30, 2012 include residential mortgage modifications with principal forgiveness of $294 million and $462 million and home equity mortgage modifications of $2 million and | ||||||||||||||||||||||||||||||||
Summary of Troubled Debt Restructuring Note, Debtor | The following tables present the September 30, 2013 and 2012 carrying value for home loans that were modified in a TDR during the three and nine months ended September 30, 2013 and 2012 by type of modification. | ||||||||||||||||||||||||||||||||
Home Loans – Modification Programs | |||||||||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 393 | $ | 3 | $ | 396 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 4 | 2 | 6 | ||||||||||||||||||||||||||||||
Other modifications (1) | 18 | — | 18 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 415 | 5 | 420 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 764 | 13 | 777 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 26 | — | 26 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 57 | 7 | 64 | ||||||||||||||||||||||||||||||
Other modifications (1) | 10 | — | 10 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 857 | 20 | 877 | ||||||||||||||||||||||||||||||
Trial modifications | 1,395 | 51 | 1,446 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 280 | 71 | 351 | ||||||||||||||||||||||||||||||
Total modifications | $ | 2,947 | $ | 147 | $ | 3,094 | |||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 83 | $ | 21 | $ | 104 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 20 | 11 | 31 | ||||||||||||||||||||||||||||||
Other modifications (1) | 2 | — | 2 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 105 | 32 | 137 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 1,153 | 15 | 1,168 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 58 | — | 58 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 124 | 5 | 129 | ||||||||||||||||||||||||||||||
Other modifications (1) | 28 | 6 | 34 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 1,363 | 26 | 1,389 | ||||||||||||||||||||||||||||||
Trial modifications | 1,905 | 43 | 1,948 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 2,877 | 588 | 3,465 | ||||||||||||||||||||||||||||||
Total modifications | $ | 6,250 | $ | 689 | $ | 6,939 | |||||||||||||||||||||||||||
(1) | Includes other modifications such as term or payment extensions and repayment plans. | ||||||||||||||||||||||||||||||||
(2) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the three months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the three months ended September 30, 2013, home loans of $196 million, or 56 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | ||||||||||||||||||||||||||||||||
Home Loans – Modification Programs | |||||||||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 1,127 | $ | 27 | $ | 1,154 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 32 | 14 | 46 | ||||||||||||||||||||||||||||||
Other modifications (1) | 68 | — | 68 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 1,227 | 41 | 1,268 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 2,829 | 50 | 2,879 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 98 | — | 98 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 435 | 17 | 452 | ||||||||||||||||||||||||||||||
Other modifications (1) | 89 | 14 | 103 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 3,451 | 81 | 3,532 | ||||||||||||||||||||||||||||||
Trial modifications | 3,442 | 71 | 3,513 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 1,033 | 232 | 1,265 | ||||||||||||||||||||||||||||||
Total modifications | $ | 9,153 | $ | 425 | $ | 9,578 | |||||||||||||||||||||||||||
TDRs Entered into During the | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | $ | 157 | $ | 61 | $ | 218 | |||||||||||||||||||||||||||
Principal and/or interest forbearance | 30 | 24 | 54 | ||||||||||||||||||||||||||||||
Other modifications (1) | 18 | — | 18 | ||||||||||||||||||||||||||||||
Total modifications under government programs | 205 | 85 | 290 | ||||||||||||||||||||||||||||||
Modifications under proprietary programs | |||||||||||||||||||||||||||||||||
Contractual interest rate reduction | 2,054 | 28 | 2,082 | ||||||||||||||||||||||||||||||
Capitalization of past due amounts | 95 | — | 95 | ||||||||||||||||||||||||||||||
Principal and/or interest forbearance | 248 | 9 | 257 | ||||||||||||||||||||||||||||||
Other modifications (1) | 62 | 13 | 75 | ||||||||||||||||||||||||||||||
Total modifications under proprietary programs | 2,459 | 50 | 2,509 | ||||||||||||||||||||||||||||||
Trial modifications | 2,638 | 62 | 2,700 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (2) | 2,877 | 588 | 3,465 | ||||||||||||||||||||||||||||||
Total modifications | $ | 8,179 | $ | 785 | $ | 8,964 | |||||||||||||||||||||||||||
(1) | Includes other modifications such as term or payment extensions and repayment plans. | ||||||||||||||||||||||||||||||||
(2) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the nine months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the nine months ended September 30, 2013, home loans of $671 million, or 53 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | ||||||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings Modified | The table below presents the carrying value of loans that entered into payment default during the three and nine months ended September 30, 2013 and 2012 and that were modified in a TDR during the 12 months preceding payment default. A payment default for home loan TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Payment default on a trial modification where the borrower has not yet met the terms of the agreement are included in the table below if the borrower is 90 days or more past due three months after the offer to modify is made. | ||||||||||||||||||||||||||||||||
Home Loans – TDRs Entering Payment Default That Were Modified During the Preceding 12 Months | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(Dollars in millions) | Residential Mortgage | Home | Total Carrying Value | ||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 86 | $ | — | $ | 86 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 185 | — | 185 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (1) | 205 | 3 | 208 | ||||||||||||||||||||||||||||||
Trial modifications | 1,205 | 3 | 1,208 | ||||||||||||||||||||||||||||||
Total modifications | $ | 1,681 | $ | 6 | $ | 1,687 | |||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 27 | $ | 2 | $ | 29 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 135 | 2 | 137 | ||||||||||||||||||||||||||||||
Trial modifications | 671 | 7 | 678 | ||||||||||||||||||||||||||||||
Total modifications | $ | 833 | $ | 11 | $ | 844 | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 244 | $ | 2 | $ | 246 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 731 | 4 | 735 | ||||||||||||||||||||||||||||||
Loans discharged in Chapter 7 bankruptcy (1) | 809 | 27 | 836 | ||||||||||||||||||||||||||||||
Trial modifications | 3,142 | 8 | 3,150 | ||||||||||||||||||||||||||||||
Total modifications | $ | 4,926 | $ | 41 | $ | 4,967 | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Modifications under government programs | $ | 167 | $ | 6 | $ | 173 | |||||||||||||||||||||||||||
Modifications under proprietary programs | 753 | 11 | 764 | ||||||||||||||||||||||||||||||
Trial modifications | 963 | 16 | 979 | ||||||||||||||||||||||||||||||
Total modifications | $ | 1,883 | $ | 33 | $ | 1,916 | |||||||||||||||||||||||||||
(1) | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Receivables [Abstract] | ||||||||||||||||
Changes in the Allowance for Credit Losses | The table below summarizes the changes in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Home Loans | Credit Card | Commercial | Total | ||||||||||||
and Other | ||||||||||||||||
Consumer | ||||||||||||||||
Allowance for loan and lease losses, July 1 | $ | 12,396 | $ | 5,671 | $ | 3,168 | $ | 21,235 | ||||||||
Loans and leases charged off | (766 | ) | (1,296 | ) | (267 | ) | (2,329 | ) | ||||||||
Recoveries of loans and leases previously charged off | 243 | 292 | 107 | 642 | ||||||||||||
Net charge-offs | (523 | ) | (1,004 | ) | (160 | ) | (1,687 | ) | ||||||||
Write-offs of PCI loans | (443 | ) | — | — | (443 | ) | ||||||||||
Provision for loan and lease losses | (920 | ) | 730 | 481 | 291 | |||||||||||
Other (1) | 3 | 33 | — | 36 | ||||||||||||
Allowance for loan and lease losses, September 30 | 10,513 | 5,430 | 3,489 | 19,432 | ||||||||||||
Reserve for unfunded lending commitments, July 1 | — | — | 474 | 474 | ||||||||||||
Provision for unfunded lending commitments | — | — | 5 | 5 | ||||||||||||
Other (2) | — | — | 1 | 1 | ||||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 480 | 480 | ||||||||||||
Allowance for credit losses, September 30 | $ | 10,513 | $ | 5,430 | $ | 3,969 | $ | 19,912 | ||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Allowance for loan and lease losses, July 1 | $ | 19,964 | $ | 7,024 | $ | 3,300 | $ | 30,288 | ||||||||
Loans and leases charged off | (2,480 | ) | (1,721 | ) | (492 | ) | (4,693 | ) | ||||||||
Recoveries of loans and leases previously charged off | 137 | 294 | 140 | 571 | ||||||||||||
Net charge-offs | (2,343 | ) | (1,427 | ) | (352 | ) | (4,122 | ) | ||||||||
Write-offs of PCI loans | (1,705 | ) | — | — | (1,705 | ) | ||||||||||
Provision for loan and lease losses | 617 | 960 | 233 | 1,810 | ||||||||||||
Other (1) | 1 | (36 | ) | (3 | ) | (38 | ) | |||||||||
Allowance for loan and lease losses, September 30 | 16,534 | 6,521 | 3,178 | 26,233 | ||||||||||||
Reserve for unfunded lending commitments, July 1 | — | — | 574 | 574 | ||||||||||||
Provision for unfunded lending commitments | — | — | (36 | ) | (36 | ) | ||||||||||
Other (2) | — | — | (20 | ) | (20 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 518 | 518 | ||||||||||||
Allowance for credit losses, September 30 | $ | 16,534 | $ | 6,521 | $ | 3,696 | $ | 26,751 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Allowance for loan and lease losses, January 1 | $ | 14,933 | $ | 6,140 | $ | 3,106 | $ | 24,179 | ||||||||
Loans and leases charged off | (2,895 | ) | (4,338 | ) | (908 | ) | (8,141 | ) | ||||||||
Recoveries of loans and leases previously charged off | 548 | 941 | 337 | 1,826 | ||||||||||||
Net charge-offs | (2,347 | ) | (3,397 | ) | (571 | ) | (6,315 | ) | ||||||||
Write-offs of PCI loans | (1,595 | ) | — | — | (1,595 | ) | ||||||||||
Provision for loan and lease losses | (409 | ) | 2,694 | 957 | 3,242 | |||||||||||
Other (1) | (69 | ) | (7 | ) | (3 | ) | (79 | ) | ||||||||
Allowance for loan and lease losses, September 30 | 10,513 | 5,430 | 3,489 | 19,432 | ||||||||||||
Reserve for unfunded lending commitments, January 1 | — | — | 513 | 513 | ||||||||||||
Provision for unfunded lending commitments | — | — | (22 | ) | (22 | ) | ||||||||||
Other (2) | — | — | (11 | ) | (11 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 480 | 480 | ||||||||||||
Allowance for credit losses, September 30 | $ | 10,513 | $ | 5,430 | $ | 3,969 | $ | 19,912 | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Allowance for loan and lease losses, January 1 | $ | 21,079 | $ | 8,569 | $ | 4,135 | $ | 33,783 | ||||||||
Loans and leases charged off | (6,256 | ) | (5,983 | ) | (1,645 | ) | (13,884 | ) | ||||||||
Recoveries of loans and leases previously charged off | 400 | 1,131 | 549 | 2,080 | ||||||||||||
Net charge-offs | (5,856 | ) | (4,852 | ) | (1,096 | ) | (11,804 | ) | ||||||||
Write-offs of PCI loans | (1,705 | ) | — | — | (1,705 | ) | ||||||||||
Provision for loan and lease losses | 3,061 | 2,893 | 153 | 6,107 | ||||||||||||
Other (1) | (45 | ) | (89 | ) | (14 | ) | (148 | ) | ||||||||
Allowance for loan and lease losses, September 30 | 16,534 | 6,521 | 3,178 | 26,233 | ||||||||||||
Reserve for unfunded lending commitments, January 1 | — | — | 714 | 714 | ||||||||||||
Provision for unfunded lending commitments | — | — | (142 | ) | (142 | ) | ||||||||||
Other (2) | — | — | (54 | ) | (54 | ) | ||||||||||
Reserve for unfunded lending commitments, September 30 | — | — | 518 | 518 | ||||||||||||
Allowance for credit losses, September 30 | $ | 16,534 | $ | 6,521 | $ | 3,696 | $ | 26,751 | ||||||||
(1) | Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments. | |||||||||||||||
(2) | Primarily represents accretion of the Merrill Lynch purchase accounting adjustment. | |||||||||||||||
Carrying Value of Outstanding Loans and Leases | The table below presents the allowance and the carrying value of outstanding loans and leases by portfolio segment at September 30, 2013 and December 31, 2012. | |||||||||||||||
Allowance and Carrying Value by Portfolio Segment | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Home Loans | Credit Card | Commercial | Total | ||||||||||||
and Other | ||||||||||||||||
Consumer | ||||||||||||||||
Impaired loans and troubled debt restructurings (1) | ||||||||||||||||
Allowance for loan and lease losses (2) | $ | 1,484 | $ | 645 | $ | 286 | $ | 2,415 | ||||||||
Carrying value (3) | 32,606 | 2,416 | 3,356 | 38,378 | ||||||||||||
Allowance as a percentage of carrying value | 4.55 | % | 26.7 | % | 8.52 | % | 6.29 | % | ||||||||
Loans collectively evaluated for impairment | ||||||||||||||||
Allowance for loan and lease losses | $ | 5,795 | $ | 4,785 | $ | 3,203 | $ | 13,783 | ||||||||
Carrying value (3, 4) | 290,375 | 184,895 | 383,380 | 858,650 | ||||||||||||
Allowance as a percentage of carrying value (4) | 2 | % | 2.59 | % | 0.84 | % | 1.61 | % | ||||||||
Purchased credit-impaired loans | ||||||||||||||||
Valuation allowance | $ | 3,234 | n/a | n/a | $ | 3,234 | ||||||||||
Carrying value gross of valuation allowance | 27,168 | n/a | n/a | 27,168 | ||||||||||||
Valuation allowance as a percentage of carrying value | 11.9 | % | n/a | n/a | 11.9 | % | ||||||||||
Total | ||||||||||||||||
Allowance for loan and lease losses | $ | 10,513 | $ | 5,430 | $ | 3,489 | $ | 19,432 | ||||||||
Carrying value (3, 4) | 350,149 | 187,311 | 386,736 | 924,196 | ||||||||||||
Allowance as a percentage of carrying value (4) | 3 | % | 2.9 | % | 0.9 | % | 2.1 | % | ||||||||
December 31, 2012 | ||||||||||||||||
Impaired loans and troubled debt restructurings (1) | ||||||||||||||||
Allowance for loan and lease losses (2) | $ | 1,700 | $ | 1,139 | $ | 475 | $ | 3,314 | ||||||||
Carrying value (3) | 30,250 | 3,946 | 4,881 | 39,077 | ||||||||||||
Allowance as a percentage of carrying value | 5.62 | % | 28.86 | % | 9.73 | % | 8.48 | % | ||||||||
Loans collectively evaluated for impairment | ||||||||||||||||
Allowance for loan and lease losses | $ | 7,697 | $ | 5,001 | $ | 2,631 | $ | 15,329 | ||||||||
Carrying value (3, 4) | 304,701 | 187,419 | 341,502 | 833,622 | ||||||||||||
Allowance as a percentage of carrying value (4) | 2.53 | % | 2.67 | % | 0.77 | % | 1.84 | % | ||||||||
Purchased credit-impaired loans | ||||||||||||||||
Valuation allowance | $ | 5,536 | n/a | n/a | $ | 5,536 | ||||||||||
Carrying value gross of valuation allowance | 26,118 | n/a | n/a | 26,118 | ||||||||||||
Valuation allowance as a percentage of carrying value | 21.2 | % | n/a | n/a | 21.2 | % | ||||||||||
Total | ||||||||||||||||
Allowance for loan and lease losses | $ | 14,933 | $ | 6,140 | $ | 3,106 | $ | 24,179 | ||||||||
Carrying value (3, 4) | 361,069 | 191,365 | 346,383 | 898,817 | ||||||||||||
Allowance as a percentage of carrying value (4) | 4.14 | % | 3.21 | % | 0.9 | % | 2.69 | % | ||||||||
(1) | Impaired loans include nonperforming commercial loans and all TDRs, including both commercial and consumer TDRs. Impaired loans exclude nonperforming consumer loans unless they are TDRs, and all consumer and commercial loans accounted for under the fair value option. | |||||||||||||||
(2) | Allowance for loan and lease losses includes $45 million and $97 million related to impaired U.S. small business commercial at September 30, 2013 and December 31, 2012. | |||||||||||||||
(3) | Amounts are presented gross of the allowance for loan and lease losses. | |||||||||||||||
(4) | Outstanding loan and lease balances and ratios do not include loans accounted for under the fair value option of $10.2 billion and $9.0 billion at September 30, 2013 and December 31, 2012. | |||||||||||||||
n/a =ot applicable |
Securitizations_and_Other_Vari1
Securitizations and Other Variable Interest Entities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Mortgage Related Securitizations | The table below summarizes select information related to first-lien mortgage securitizations for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||||||
First-lien Mortgage Securitizations | |||||||||||||||||||||||||||||||||||
Three Months Ended September 30 | |||||||||||||||||||||||||||||||||||
Residential | Commercial Mortgage | ||||||||||||||||||||||||||||||||||
Mortgage - Agency | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Cash proceeds from new securitizations (1) | $ | 14,068 | $ | 12,461 | $ | — | $ | 335 | |||||||||||||||||||||||||||
Gain (loss) on securitizations (2) | 36 | (89 | ) | — | — | ||||||||||||||||||||||||||||||
Nine Months Ended September 30 | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Cash proceeds from new securitizations (1) | $ | 41,444 | $ | 27,688 | $ | 208 | $ | 660 | |||||||||||||||||||||||||||
Gain (loss) on securitizations (2) | 92 | (151 | ) | — | — | ||||||||||||||||||||||||||||||
(1) | The Corporation sells residential mortgage loans to GSEs in the normal course of business and receives MBS in exchange which may then be sold into the market to third-party investors for cash proceeds. | ||||||||||||||||||||||||||||||||||
(2) | Substantially all of the first-lien residential mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. As such, gains are recognized on these LHFS prior to securitization. The Corporation recognized $379 million and $1.7 billion of gains, net of hedges, on loans securitized during the three and nine months ended September 30, 2013 compared to $563 million and $1.3 billion for the same periods in 2012. | ||||||||||||||||||||||||||||||||||
First Lien Mortgages [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
First-lien Mortgage VIEs | |||||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||||
Non-agency | |||||||||||||||||||||||||||||||||||
Agency | Prime | Subprime | Alt-A | Commercial Mortgage | |||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Unconsolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 21,362 | $ | 28,591 | $ | 1,623 | $ | 2,038 | $ | 407 | $ | 410 | $ | 448 | $ | 367 | $ | 607 | $ | 702 | |||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Senior securities held (2): | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 976 | $ | 619 | $ | — | $ | 16 | $ | 8 | $ | 14 | $ | 1 | $ | — | $ | 18 | $ | 12 | |||||||||||||||
Debt securities carried at fair value | 19,825 | 26,421 | 1,088 | 1,388 | 219 | 210 | 119 | 128 | 359 | 581 | |||||||||||||||||||||||||
Subordinate securities held (2): | |||||||||||||||||||||||||||||||||||
Trading account assets | — | — | — | — | 7 | 3 | — | — | 18 | 13 | |||||||||||||||||||||||||
Debt securities carried at fair value | — | — | 17 | 21 | 7 | 9 | — | — | — | — | |||||||||||||||||||||||||
Residual interests held | — | — | 13 | 18 | — | 9 | — | — | 177 | 40 | |||||||||||||||||||||||||
All other assets (3) | 561 | 1,551 | 75 | 64 | 1 | 1 | 328 | 239 | — | — | |||||||||||||||||||||||||
Total retained positions | $ | 21,362 | $ | 28,591 | $ | 1,193 | $ | 1,507 | $ | 242 | $ | 246 | $ | 448 | $ | 367 | $ | 572 | $ | 646 | |||||||||||||||
Principal balance outstanding (4) | $ | 479,193 | $ | 797,315 | $ | 29,592 | $ | 45,819 | $ | 34,084 | $ | 53,822 | $ | 54,045 | $ | 71,990 | $ | 21,883 | $ | 56,733 | |||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 42,509 | $ | 46,959 | $ | 102 | $ | 104 | $ | 389 | $ | 390 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 927 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans and leases | 41,114 | 45,991 | 247 | 283 | 811 | 722 | — | — | — | — | |||||||||||||||||||||||||
Allowance for loan and lease losses | (3 | ) | (4 | ) | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Loans held-for-sale | — | — | — | — | 760 | 914 | — | — | — | — | |||||||||||||||||||||||||
All other assets | 478 | 972 | — | 10 | 4 | 91 | — | — | — | — | |||||||||||||||||||||||||
Total assets | $ | 42,516 | $ | 46,959 | $ | 247 | $ | 293 | $ | 1,575 | $ | 1,727 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | — | $ | — | $ | — | $ | 762 | $ | 741 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Long-term debt | 7 | — | 168 | 212 | 804 | 941 | — | — | — | — | |||||||||||||||||||||||||
Total liabilities | $ | 7 | $ | — | $ | 168 | $ | 212 | $ | 1,566 | $ | 1,682 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
(1) | Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and MSRs. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees and Note 19 – Mortgage Servicing Rights. | ||||||||||||||||||||||||||||||||||
(2) | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | ||||||||||||||||||||||||||||||||||
(3) | Not included in the table above are all other assets of $2.3 billion and $12.1 billion, representing the unpaid principal balance of mortgage loans eligible for repurchase from unconsolidated residential mortgage securitization vehicles, principally guaranteed by GNMA, and all other liabilities of $2.3 billion and $12.1 billion, representing the principal amount that would be payable to the securitization vehicles if the Corporation were to exercise the repurchase option, at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
(4) | Principal balance outstanding includes loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loans. | ||||||||||||||||||||||||||||||||||
Home Equity [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to home equity loan securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
Home Equity Loan VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
VIEs | VIEs | VIEs | VIEs | ||||||||||||||||||||||||||||||||
Maximum loss exposure (1) | $ | 1,317 | $ | 6,440 | $ | 7,757 | $ | 2,004 | $ | 6,707 | $ | 8,711 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | — | $ | 23 | $ | 23 | $ | — | $ | 8 | $ | 8 | |||||||||||||||||||||||
Debt securities carried at fair value | — | 19 | 19 | — | 14 | 14 | |||||||||||||||||||||||||||||
Loans and leases | 1,406 | — | 1,406 | 2,197 | — | 2,197 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | (89 | ) | — | (89 | ) | (193 | ) | — | (193 | ) | |||||||||||||||||||||||||
Total | $ | 1,317 | $ | 42 | $ | 1,359 | $ | 2,004 | $ | 22 | $ | 2,026 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 1,503 | $ | — | $ | 1,503 | $ | 2,331 | $ | — | $ | 2,331 | |||||||||||||||||||||||
All other liabilities | 88 | — | 88 | 92 | — | 92 | |||||||||||||||||||||||||||||
Total | $ | 1,591 | $ | — | $ | 1,591 | $ | 2,423 | $ | — | $ | 2,423 | |||||||||||||||||||||||
Principal balance outstanding | $ | 1,406 | $ | 6,829 | $ | 8,235 | $ | 2,197 | $ | 12,644 | $ | 14,841 | |||||||||||||||||||||||
(1) | For unconsolidated VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves, and excludes the liability for representations and warranties obligations and corporate guarantees. | ||||||||||||||||||||||||||||||||||
Credit Card Receivable [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to consolidated credit card securitization trusts in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
Credit Card VIEs | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 44,412 | $ | 42,487 | |||||||||||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Derivative assets | $ | 199 | $ | 323 | |||||||||||||||||||||||||||||||
Loans and leases (1) | 60,740 | 66,427 | |||||||||||||||||||||||||||||||||
Allowance for loan and lease losses | (2,865 | ) | (3,445 | ) | |||||||||||||||||||||||||||||||
All other assets (2) | 1,971 | 1,567 | |||||||||||||||||||||||||||||||||
Total | $ | 60,045 | $ | 64,872 | |||||||||||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 15,569 | $ | 22,291 | |||||||||||||||||||||||||||||||
All other liabilities | 64 | 94 | |||||||||||||||||||||||||||||||||
Total | $ | 15,633 | $ | 22,385 | |||||||||||||||||||||||||||||||
(1) | At September 30, 2013 and December 31, 2012, loans and leases included $36.0 billion and $33.5 billion of seller's interest and $24 million and $124 million of discount receivables. | ||||||||||||||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, all other assets included restricted cash and short-term investment accounts and unbilled accrued interest and fees. | ||||||||||||||||||||||||||||||||||
Collateralized Securities, Other [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | Other asset-backed securitizations include resecuritization trusts, municipal bond trusts, and automobile and other securitization trusts. The table below summarizes select information related to other asset-backed securitizations in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
Other Asset-backed VIEs | |||||||||||||||||||||||||||||||||||
Resecuritization Trusts | Municipal Bond Trusts | Automobile and Other | |||||||||||||||||||||||||||||||||
Securitization Trusts | |||||||||||||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | September 30 | December 31 | September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Unconsolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 13,075 | $ | 20,715 | $ | 2,322 | $ | 3,341 | $ | 99 | $ | 122 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Senior securities held (1, 2): | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 779 | $ | 1,281 | $ | 134 | $ | 12 | $ | 17 | $ | 37 | |||||||||||||||||||||||
Debt securities carried at fair value | 12,174 | 19,343 | — | 540 | 72 | 74 | |||||||||||||||||||||||||||||
Subordinate securities held (1, 2): | |||||||||||||||||||||||||||||||||||
Debt securities carried at fair value | 67 | 75 | — | — | — | — | |||||||||||||||||||||||||||||
Residual interests held (3) | 55 | 16 | — | — | — | — | |||||||||||||||||||||||||||||
All other assets | — | — | — | — | 10 | 11 | |||||||||||||||||||||||||||||
Total retained positions | $ | 13,075 | $ | 20,715 | $ | 134 | $ | 552 | $ | 99 | $ | 122 | |||||||||||||||||||||||
Total assets of VIEs (4) | $ | 39,742 | $ | 42,818 | $ | 3,859 | $ | 4,980 | $ | 1,949 | $ | 1,890 | |||||||||||||||||||||||
Consolidated VIEs | |||||||||||||||||||||||||||||||||||
Maximum loss exposure | $ | 250 | $ | 126 | $ | 2,987 | $ | 2,505 | $ | 196 | $ | 1,255 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 1,169 | $ | 220 | $ | 2,987 | $ | 2,505 | $ | — | $ | — | |||||||||||||||||||||||
Loans and leases | — | — | — | — | 867 | 2,523 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | — | — | — | — | (1 | ) | (2 | ) | |||||||||||||||||||||||||||
All other assets | — | — | — | — | 80 | 250 | |||||||||||||||||||||||||||||
Total assets | $ | 1,169 | $ | 220 | $ | 2,987 | $ | 2,505 | $ | 946 | $ | 2,771 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | — | $ | — | $ | 1,336 | $ | 2,859 | $ | — | $ | — | |||||||||||||||||||||||
Long-term debt | 919 | 94 | — | — | 749 | 1,513 | |||||||||||||||||||||||||||||
All other liabilities | — | — | — | — | 82 | 82 | |||||||||||||||||||||||||||||
Total liabilities | $ | 919 | $ | 94 | $ | 1,336 | $ | 2,859 | $ | 831 | $ | 1,595 | |||||||||||||||||||||||
(1) | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | ||||||||||||||||||||||||||||||||||
(2) | The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). | ||||||||||||||||||||||||||||||||||
(3) | The retained residual interests are carried at fair value which was derived using model valuations (Level 2 of the fair value hierarchy). | ||||||||||||||||||||||||||||||||||
(4) | Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan. | ||||||||||||||||||||||||||||||||||
Collateralized Debt Obligations [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to CDO vehicles in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
CDO Vehicle VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 1,274 | $ | 1,019 | $ | 2,293 | $ | 2,201 | $ | 1,376 | $ | 3,577 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 1,280 | $ | 290 | $ | 1,570 | $ | 2,191 | $ | 258 | $ | 2,449 | |||||||||||||||||||||||
Derivative assets | — | 146 | 146 | 10 | 301 | 311 | |||||||||||||||||||||||||||||
All other assets | — | 57 | 57 | — | 76 | 76 | |||||||||||||||||||||||||||||
Total | $ | 1,280 | $ | 493 | $ | 1,773 | $ | 2,201 | $ | 635 | $ | 2,836 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 1,482 | $ | — | $ | 1,482 | $ | 2,806 | $ | 2 | $ | 2,808 | |||||||||||||||||||||||
All other liabilities | — | 7 | 7 | — | 9 | 9 | |||||||||||||||||||||||||||||
Total | $ | 1,482 | $ | 7 | $ | 1,489 | $ | 2,806 | $ | 11 | $ | 2,817 | |||||||||||||||||||||||
Total assets of VIEs | $ | 1,280 | $ | 19,826 | $ | 21,106 | $ | 2,201 | $ | 26,985 | $ | 29,186 | |||||||||||||||||||||||
Customer Vehicles [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to customer vehicles in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
Customer Vehicle VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 3,575 | $ | 1,258 | $ | 4,833 | $ | 2,994 | $ | 1,401 | $ | 4,395 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 2,283 | $ | 87 | $ | 2,370 | $ | 2,882 | $ | 98 | $ | 2,980 | |||||||||||||||||||||||
Derivative assets | — | 335 | 335 | — | 516 | 516 | |||||||||||||||||||||||||||||
Loans and leases | 846 | — | 846 | 523 | — | 523 | |||||||||||||||||||||||||||||
Loans held-for-sale | 1,038 | — | 1,038 | 950 | — | 950 | |||||||||||||||||||||||||||||
All other assets | 793 | — | 793 | 763 | — | 763 | |||||||||||||||||||||||||||||
Total | $ | 4,960 | $ | 422 | $ | 5,382 | $ | 5,118 | $ | 614 | $ | 5,732 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Short-term borrowings | $ | 82 | $ | — | $ | 82 | $ | 131 | $ | — | $ | 131 | |||||||||||||||||||||||
Long-term debt | 2,413 | — | 2,413 | 3,179 | — | 3,179 | |||||||||||||||||||||||||||||
All other liabilities | 75 | 427 | 502 | 29 | 389 | 418 | |||||||||||||||||||||||||||||
Total | $ | 2,570 | $ | 427 | $ | 2,997 | $ | 3,339 | $ | 389 | $ | 3,728 | |||||||||||||||||||||||
Total assets of VIEs | $ | 4,960 | $ | 4,229 | $ | 9,189 | $ | 5,118 | $ | 4,055 | $ | 9,173 | |||||||||||||||||||||||
Other Variable Interest Entity Investment Vehicle [Member] | |||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||||||||||
Schedule of Variable Interest Entities | The table below summarizes select information related to other VIEs in which the Corporation held a variable interest at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||||
Other VIEs | |||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
(Dollars in millions) | Consolidated | Unconsolidated | Total | Consolidated | Unconsolidated | Total | |||||||||||||||||||||||||||||
Maximum loss exposure | $ | 4,975 | $ | 8,805 | $ | 13,780 | $ | 5,608 | $ | 6,492 | $ | 12,100 | |||||||||||||||||||||||
On-balance sheet assets | |||||||||||||||||||||||||||||||||||
Trading account assets | $ | 97 | $ | — | $ | 97 | $ | 108 | $ | — | $ | 108 | |||||||||||||||||||||||
Derivative assets | — | 380 | 380 | — | 460 | 460 | |||||||||||||||||||||||||||||
Debt securities carried at fair value | — | 1,687 | 1,687 | — | 39 | 39 | |||||||||||||||||||||||||||||
Loans and leases | 3,965 | 250 | 4,215 | 4,561 | 67 | 4,628 | |||||||||||||||||||||||||||||
Allowance for loan and lease losses | (4 | ) | — | (4 | ) | (14 | ) | — | (14 | ) | |||||||||||||||||||||||||
Loans held-for-sale | 77 | 94 | 171 | 105 | 157 | 262 | |||||||||||||||||||||||||||||
All other assets | 988 | 6,079 | 7,067 | 1,001 | 5,768 | 6,769 | |||||||||||||||||||||||||||||
Total | $ | 5,123 | $ | 8,490 | $ | 13,613 | $ | 5,761 | $ | 6,491 | $ | 12,252 | |||||||||||||||||||||||
On-balance sheet liabilities | |||||||||||||||||||||||||||||||||||
Long-term debt | $ | 867 | $ | — | $ | 867 | $ | 889 | $ | — | $ | 889 | |||||||||||||||||||||||
All other liabilities | 73 | 2,137 | 2,210 | 63 | 1,692 | 1,755 | |||||||||||||||||||||||||||||
Total | $ | 940 | $ | 2,137 | $ | 3,077 | $ | 952 | $ | 1,692 | $ | 2,644 | |||||||||||||||||||||||
Total assets of VIEs | $ | 5,123 | $ | 11,004 | $ | 16,127 | $ | 5,761 | $ | 8,660 | $ | 14,421 | |||||||||||||||||||||||
Representations_and_Warranties1
Representations and Warranties Obligations and Corporate Guarantees (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Guarantees [Abstract] | ||||||||||||||||||||||||
Outstanding Claims By Category And Product | The table below presents unresolved repurchase claims at September 30, 2013 and December 31, 2012. The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has a basis to submit claims. For additional information, see Whole Loan Sales and Private-label Securitizations Experience in this Note and Note 11 – Commitments and Contingencies herein. These repurchase claims do not include any repurchase claims related to the BNY Mellon Settlement regarding the Covered Trusts. | |||||||||||||||||||||||
Unresolved Repurchase Claims by Counterparty and Product Type (1, 2) | ||||||||||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
By counterparty | ||||||||||||||||||||||||
GSEs | $ | 1,208 | $ | 13,530 | ||||||||||||||||||||
Monolines | 1,541 | 2,449 | ||||||||||||||||||||||
Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | 14,911 | 12,299 | ||||||||||||||||||||||
Total unresolved repurchase claims by counterparty | $ | 17,660 | $ | 28,278 | ||||||||||||||||||||
By product type | ||||||||||||||||||||||||
Prime loans | $ | 1,631 | $ | 8,793 | ||||||||||||||||||||
Alt-A | 1,456 | 5,428 | ||||||||||||||||||||||
Home equity | 1,734 | 2,394 | ||||||||||||||||||||||
Pay option | 5,680 | 5,884 | ||||||||||||||||||||||
Subprime | 5,276 | 3,687 | ||||||||||||||||||||||
Other | 1,883 | 2,092 | ||||||||||||||||||||||
Total unresolved repurchase claims by product type | $ | 17,660 | $ | 28,278 | ||||||||||||||||||||
(1) | Excludes certain MI rescission notices. However, at September 30, 2013 and December 31, 2012, included $443 million and $2.3 billion of repurchase requests received from the GSEs that have resulted solely from MI rescission notices. For additional information, see Mortgage Insurance Rescission Notices in this Note. | |||||||||||||||||||||||
(2) | At September 30, 2013 and December 31, 2012, unresolved repurchase claims did not include repurchase demands of $1.4 billion and $1.6 billion where the Corporation believes the claimants have not satisfied the contractual thresholds as discussed on page 212. | |||||||||||||||||||||||
Loan Repurchases And Indemnification Payments | ||||||||||||||||||||||||
Loan Repurchases and Indemnification Payments | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(Dollars in millions) | Unpaid | Cash Paid | Loss | Unpaid | Cash Paid | Loss | ||||||||||||||||||
Principal | for | Principal | for | |||||||||||||||||||||
Balance | Repurchases | Balance | Repurchases | |||||||||||||||||||||
First-lien | ||||||||||||||||||||||||
Repurchases | $ | 128 | $ | 136 | $ | 27 | $ | 239 | $ | 261 | $ | 98 | ||||||||||||
Indemnification payments | 190 | 115 | 115 | 183 | 126 | 126 | ||||||||||||||||||
Total first-lien | 318 | 251 | 142 | 422 | 387 | 224 | ||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Repurchases | — | — | — | 2 | 2 | — | ||||||||||||||||||
Indemnification payments | 25 | 26 | 26 | 7 | 7 | 7 | ||||||||||||||||||
Total home equity | 25 | 26 | 26 | 9 | 9 | 7 | ||||||||||||||||||
Total first-lien and home equity | $ | 343 | $ | 277 | $ | 168 | $ | 431 | $ | 396 | $ | 231 | ||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
First-lien | ||||||||||||||||||||||||
Repurchases | $ | 661 | $ | 693 | $ | 124 | $ | 989 | $ | 1,065 | $ | 313 | ||||||||||||
Indemnification payments | 481 | 291 | 291 | 647 | 298 | 298 | ||||||||||||||||||
Total first-lien | 1,142 | 984 | 415 | 1,636 | 1,363 | 611 | ||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Repurchases | — | — | — | 18 | 18 | — | ||||||||||||||||||
Indemnification payments | 49 | 51 | 51 | 32 | 29 | 29 | ||||||||||||||||||
Total home equity | 49 | 51 | 51 | 50 | 47 | 29 | ||||||||||||||||||
Total first-lien and home equity | $ | 1,191 | $ | 1,035 | $ | 466 | $ | 1,686 | $ | 1,410 | $ | 640 | ||||||||||||
Rollforward Of Liability For Representations And Warranties | The table below presents a rollforward of the liability for representations and warranties and corporate guarantees. | |||||||||||||||||||||||
Representations and Warranties and Corporate Guarantees | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Liability for representations and warranties and corporate guarantees, beginning of period | $ | 14,020 | $ | 15,943 | $ | 19,021 | $ | 15,858 | ||||||||||||||||
Additions for new sales | 9 | 8 | 31 | 19 | ||||||||||||||||||||
Net reductions | (236 | ) | 11 | (5,706 | ) | (592 | ) | |||||||||||||||||
Provision | 323 | 307 | 770 | 984 | ||||||||||||||||||||
Liability for representations and warranties and corporate guarantees, September 30 | $ | 14,116 | $ | 16,269 | $ | 14,116 | $ | 16,269 | ||||||||||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||
Goodwill | The table below presents goodwill balances by business segment at September 30, 2013 and December 31, 2012. The reporting units utilized for goodwill impairment tests are the operating segments or one level below. For additional information, see Note 9 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | |||||||||||||||
Goodwill | ||||||||||||||||
(Dollars in millions) | September 30 | December 31 | ||||||||||||||
2013 | 2012 | |||||||||||||||
Consumer & Business Banking | $ | 31,681 | $ | 31,681 | ||||||||||||
Global Banking | 22,377 | 22,377 | ||||||||||||||
Global Markets | 5,197 | 5,181 | ||||||||||||||
Global Wealth & Investment Management | 9,698 | 9,698 | ||||||||||||||
All Other | 938 | 1,039 | ||||||||||||||
Total goodwill | $ | 69,891 | $ | 69,976 | ||||||||||||
Intangible Assets | The table below presents the gross carrying value and accumulated amortization for intangible assets at September 30, 2013 and December 31, 2012. | |||||||||||||||
Intangible Assets (1) | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
(Dollars in millions) | Gross | Accumulated | Gross | Accumulated | ||||||||||||
Carrying Value | Amortization | Carrying Value | Amortization | |||||||||||||
Purchased credit card relationships | $ | 6,137 | $ | 4,735 | $ | 6,184 | $ | 4,494 | ||||||||
Core deposit intangibles | 3,592 | 3,009 | 3,592 | 2,858 | ||||||||||||
Customer relationships | 4,025 | 2,182 | 4,025 | 1,884 | ||||||||||||
Affinity relationships | 1,571 | 1,167 | 1,572 | 1,087 | ||||||||||||
Other intangibles | 2,045 | 434 | 2,139 | 505 | ||||||||||||
Total intangible assets | $ | 17,370 | $ | 11,527 | $ | 17,512 | $ | 10,828 | ||||||||
(1) | Excludes fully amortized intangible assets. |
Federal_Funds_Sold_or_Purchase1
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings [Abstract] | ||||||||||||||||||||||||||||
Federal Funds Sold Securities Borrowed Or Purchased Under Agreements To Resell And Short Term Borrowings | The table below presents federal funds sold or purchased, securities financing agreements which include securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase, and short-term borrowings. | |||||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Average during period | ||||||||||||||||||||||||||||
Federal funds sold | $ | 10 | $ | 519 | 0.74 | % | 0.36 | % | $ | 8 | $ | 281 | 0.68 | % | 0.44 | % | ||||||||||||
Securities borrowed or purchased under agreements to resell | 223,424 | 234,436 | 0.52 | 0.6 | 231,371 | 233,777 | 0.53 | 0.67 | ||||||||||||||||||||
Total | $ | 223,434 | $ | 234,955 | 0.52 | 0.6 | $ | 231,379 | $ | 234,058 | 0.53 | 0.67 | ||||||||||||||||
Federal funds purchased | $ | 183 | $ | 211 | 0.03 | % | 0.05 | % | $ | 188 | $ | 229 | 0.06 | % | 0.05 | % | ||||||||||||
Securities loaned or sold under agreements to repurchase | 235,022 | 286,931 | 0.82 | 0.95 | 268,549 | 274,166 | 0.8 | 1.04 | ||||||||||||||||||||
Short-term borrowings | 44,220 | 37,881 | 1.76 | 2.16 | 42,749 | 37,981 | 2.01 | 2.07 | ||||||||||||||||||||
Total | $ | 279,425 | $ | 325,023 | 0.97 | 1.09 | $ | 311,486 | $ | 312,376 | 0.96 | 1.16 | ||||||||||||||||
Maximum month-end balance during period | ||||||||||||||||||||||||||||
Federal funds sold | $ | 35 | $ | 550 | $ | 550 | $ | 550 | ||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | 220,985 | 237,630 | 249,791 | 252,303 | ||||||||||||||||||||||||
Federal funds purchased | $ | 166 | $ | 207 | $ | 1,271 | $ | 331 | ||||||||||||||||||||
Securities loaned or sold under agreements to repurchase | 239,556 | 291,093 | 319,608 | 291,093 | ||||||||||||||||||||||||
Short-term borrowings | 44,291 | 40,129 | 46,470 | 40,129 | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||||||||
Period-end balance | ||||||||||||||||||||||||||||
Federal funds sold | $ | — | — | % | $ | 600 | 0.54 | % | ||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | 212,007 | 0.5 | 219,324 | 0.92 | ||||||||||||||||||||||||
Total | $ | 212,007 | 0.5 | $ | 219,924 | 0.92 | ||||||||||||||||||||||
Federal funds purchased | $ | 151 | 0.1 | % | $ | 1,151 | 0.17 | % | ||||||||||||||||||||
Securities loaned or sold under agreements to repurchase | 226,123 | 0.85 | 292,108 | 1.11 | ||||||||||||||||||||||||
Short-term borrowings | 40,769 | 1.86 | 30,731 | 3.08 | ||||||||||||||||||||||||
Total | $ | 267,043 | 1 | $ | 323,990 | 1.29 | ||||||||||||||||||||||
Offsetting Assets and Liabilities | Gross assets and liabilities include activity where uncertainty exists as to the enforceability of certain master netting agreements under bankruptcy laws in some countries or industries, and accordingly, these are reported on a gross basis. | |||||||||||||||||||||||||||
Securities Financing Agreements | ||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||
(Dollars in millions) | Gross Assets/Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Instruments | Net Assets/Liabilities | |||||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | $ | 315,751 | $ | (103,744 | ) | $ | 212,007 | $ | (171,277 | ) | $ | 40,730 | ||||||||||||||||
Securities loaned or sold under agreements to repurchase | $ | 329,867 | $ | (103,744 | ) | $ | 226,123 | $ | (180,918 | ) | $ | 45,205 | ||||||||||||||||
Other | 9,180 | — | 9,180 | (9,180 | ) | — | ||||||||||||||||||||||
Total | $ | 339,047 | $ | (103,744 | ) | $ | 235,303 | $ | (190,098 | ) | $ | 45,205 | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Securities borrowed or purchased under agreements to resell | $ | 366,238 | $ | (146,914 | ) | $ | 219,324 | $ | (173,593 | ) | $ | 45,731 | ||||||||||||||||
Securities loaned or sold under agreements to repurchase | $ | 439,022 | $ | (146,914 | ) | $ | 292,108 | $ | (217,817 | ) | $ | 74,291 | ||||||||||||||||
Other | 12,306 | — | 12,306 | (12,302 | ) | 4 | ||||||||||||||||||||||
Total | $ | 451,328 | $ | (146,914 | ) | $ | 304,414 | $ | (230,119 | ) | $ | 74,295 | ||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||
Schedule of Guarantor Obligations | The table below also includes the notional amount of commitments of $14.7 billion and $18.3 billion at September 30, 2013 and December 31, 2012 that are accounted for under the fair value option. However, the table below excludes cumulative net fair value adjustments of $412 million and $528 million on these commitments, which are classified in accrued expenses and other liabilities. For more information regarding the Corporation's loan commitments accounted for under the fair value option, see Note 17 – Fair Value Option. | |||||||||||||||||||
Credit Extension Commitments | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
(Dollars in millions) | Expire in | Expire After | Expire After Three Years Through | Expire After Five Years | Total | |||||||||||||||
One Year | One Year Through | Five Years | ||||||||||||||||||
or Less | Three Years | |||||||||||||||||||
Notional amount of credit extension commitments | ||||||||||||||||||||
Loan commitments | $ | 84,608 | $ | 102,677 | $ | 133,045 | $ | 22,056 | $ | 342,386 | ||||||||||
Home equity lines of credit | 3,711 | 16,398 | 21,976 | 14,631 | 56,716 | |||||||||||||||
Standby letters of credit and financial guarantees (1) | 22,536 | 9,739 | 2,437 | 4,461 | 39,173 | |||||||||||||||
Letters of credit | 1,603 | 76 | 764 | 290 | 2,733 | |||||||||||||||
Legally binding commitments | 112,458 | 128,890 | 158,222 | 41,438 | 441,008 | |||||||||||||||
Credit card lines (2) | 379,036 | — | — | — | 379,036 | |||||||||||||||
Total credit extension commitments | $ | 491,494 | $ | 128,890 | $ | 158,222 | $ | 41,438 | $ | 820,044 | ||||||||||
December 31, 2012 | ||||||||||||||||||||
Notional amount of credit extension commitments | ||||||||||||||||||||
Loan commitments | $ | 103,791 | $ | 83,885 | $ | 130,805 | $ | 19,942 | $ | 338,423 | ||||||||||
Home equity lines of credit | 2,134 | 13,584 | 23,344 | 21,856 | 60,918 | |||||||||||||||
Standby letters of credit and financial guarantees (1) | 24,593 | 11,387 | 3,094 | 4,751 | 43,825 | |||||||||||||||
Letters of credit | 2,003 | 70 | 10 | 546 | 2,629 | |||||||||||||||
Legally binding commitments | 132,521 | 108,926 | 157,253 | 47,095 | 445,795 | |||||||||||||||
Credit card lines (2) | 397,862 | — | — | — | 397,862 | |||||||||||||||
Total credit extension commitments | $ | 530,383 | $ | 108,926 | $ | 157,253 | $ | 47,095 | $ | 843,657 | ||||||||||
(1) | The notional amounts of SBLCs and financial guarantees classified as investment grade and non-investment grade based on the credit quality of the underlying reference name within the instrument were $28.6 billion and $10.1 billion at September 30, 2013, and $31.5 billion and $11.6 billion at December 31, 2012. Amounts include consumer SBLCs of $537 million and $669 million at September 30, 2013 and December 31, 2012. | |||||||||||||||||||
(2) | Includes business card unused lines of credit. |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Stockholders' Equity Note [Abstract] | ||||||||
Schedule of Dividends | The table below presents the declared quarterly cash dividends on common stock during 2013 and through October 30, 2013. | |||||||
Declaration Date | Record Date | Payment Date | Dividend Per Share | |||||
24-Oct-13 | 6-Dec-13 | 27-Dec-13 | $ | 0.01 | ||||
24-Jul-13 | 6-Sep-13 | 27-Sep-13 | 0.01 | |||||
30-Apr-13 | 7-Jun-13 | 28-Jun-13 | 0.01 | |||||
23-Jan-13 | 1-Mar-13 | 22-Mar-13 | 0.01 | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||
Accumulated OCI | The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||
(Dollars in millions) | Available-for-sale Debt Securities | Available-for-sale | Derivatives | Employee | Foreign | Total | ||||||||||||||||||
Marketable | Benefit Plans (1) | Currency (2) | ||||||||||||||||||||||
Equity Securities | ||||||||||||||||||||||||
Balance, December 31, 2011 | $ | 3,100 | $ | 3 | $ | (3,785 | ) | $ | (4,391 | ) | $ | (364 | ) | $ | (5,437 | ) | ||||||||
Net change | 2,645 | 326 | 535 | 1,106 | 14 | 4,626 | ||||||||||||||||||
Balance, September 30, 2012 | $ | 5,745 | $ | 329 | $ | (3,250 | ) | $ | (3,285 | ) | $ | (350 | ) | $ | (811 | ) | ||||||||
Balance, December 31, 2012 | $ | 4,443 | $ | 462 | $ | (2,869 | ) | $ | (4,456 | ) | $ | (377 | ) | $ | (2,797 | ) | ||||||||
Net change | (5,303 | ) | (467 | ) | 365 | 1,513 | (134 | ) | (4,026 | ) | ||||||||||||||
Balance, September 30, 2013 | $ | (860 | ) | $ | (5 | ) | $ | (2,504 | ) | $ | (2,943 | ) | $ | (511 | ) | $ | (6,823 | ) | ||||||
(1) | During the three months ended September 30, 2013, the Corporation merged certain pension plans into one plan. For additional information, see Note 15 – Pension, Postretirement and Certain Compensation Plans. | |||||||||||||||||||||||
(2) | Net change in fair value represents the impact of changes in spot foreign exchange rates on the Corporation's net investment in non-U.S. operations and related hedges. | |||||||||||||||||||||||
Schedule of Comprehensive Income (Loss) | The table below presents the net change in fair value recorded in accumulated OCI and realized net gains and losses reclassified into earnings for each component of OCI before- and after-tax for the nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||
Changes in OCI Components Before- and After-tax | ||||||||||||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
(Dollars in millions) | Before-tax | Tax effect | After-tax | Before-tax | Tax effect | After-tax | ||||||||||||||||||
Available-for-sale debt securities: | ||||||||||||||||||||||||
Net change in fair value | $ | (7,573 | ) | $ | 2,813 | $ | (4,760 | ) | $ | 5,576 | $ | (2,024 | ) | $ | 3,552 | |||||||||
Net realized gains reclassified into earnings | (861 | ) | 318 | (543 | ) | (1,439 | ) | 532 | (907 | ) | ||||||||||||||
Net change | (8,434 | ) | 3,131 | (5,303 | ) | 4,137 | (1,492 | ) | 2,645 | |||||||||||||||
Available-for-sale marketable equity securities: | ||||||||||||||||||||||||
Net change in fair value | 28 | (10 | ) | 18 | 542 | (200 | ) | 342 | ||||||||||||||||
Net realized gains reclassified into earnings | (765 | ) | 280 | (485 | ) | (25 | ) | 9 | (16 | ) | ||||||||||||||
Net change | (737 | ) | 270 | (467 | ) | 517 | (191 | ) | 326 | |||||||||||||||
Derivatives: | ||||||||||||||||||||||||
Net change in fair value | (3 | ) | — | (3 | ) | 123 | (46 | ) | 77 | |||||||||||||||
Net realized losses reclassified into earnings | 584 | (216 | ) | 368 | 726 | (268 | ) | 458 | ||||||||||||||||
Net change | 581 | (216 | ) | 365 | 849 | (314 | ) | 535 | ||||||||||||||||
Employee benefit plans: | ||||||||||||||||||||||||
Net change in fair value related to pension plan remeasurement | 2,138 | (795 | ) | 1,343 | — | — | — | |||||||||||||||||
Net realized losses reclassified into earnings | 204 | (68 | ) | 136 | 371 | (135 | ) | 236 | ||||||||||||||||
Settlements and curtailments | 46 | (12 | ) | 34 | 1,381 | (511 | ) | 870 | ||||||||||||||||
Net change | 2,388 | (875 | ) | 1,513 | 1,752 | (646 | ) | 1,106 | ||||||||||||||||
Foreign currency: | ||||||||||||||||||||||||
Net change in fair value | 214 | (347 | ) | (133 | ) | (340 | ) | 354 | 14 | |||||||||||||||
Net realized (gains) losses reclassified into earnings | 31 | (32 | ) | (1 | ) | 2 | (2 | ) | — | |||||||||||||||
Net change | 245 | (379 | ) | (134 | ) | (338 | ) | 352 | 14 | |||||||||||||||
Total other comprehensive income (loss) | $ | (5,957 | ) | $ | 1,931 | $ | (4,026 | ) | $ | 6,917 | $ | (2,291 | ) | $ | 4,626 | |||||||||
Reclassification out of Accumulated Other Comprehensive Income | The table below presents impacts on net income of significant amounts reclassified out of each component of accumulated OCI before- and after-tax for the nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||
Reclassifications Out of Accumulated OCI | ||||||||||||||||||||||||
(Dollars in millions) | Nine Months Ended September 30 | |||||||||||||||||||||||
Accumulated OCI Components | Income Statement Line Item | 2013 | 2012 | |||||||||||||||||||||
Available-for-sale debt securities: | ||||||||||||||||||||||||
Gain on sale of debt securities | $ | 881 | $ | 1,491 | ||||||||||||||||||||
Other-than-temporary impairment | (20 | ) | (52 | ) | ||||||||||||||||||||
Income before income taxes | 861 | 1,439 | ||||||||||||||||||||||
Income tax expense | 318 | 532 | ||||||||||||||||||||||
Net income | 543 | 907 | ||||||||||||||||||||||
Available-for-sale marketable equity securities: | ||||||||||||||||||||||||
Equity investment income | 765 | 25 | ||||||||||||||||||||||
Income before income taxes | 765 | 25 | ||||||||||||||||||||||
Income tax expense | 280 | 9 | ||||||||||||||||||||||
Net income | 485 | 16 | ||||||||||||||||||||||
Derivatives: | ||||||||||||||||||||||||
Interest rate contracts | Net interest income | (818 | ) | (637 | ) | |||||||||||||||||||
Commodity contracts | Trading account profits | (1 | ) | — | ||||||||||||||||||||
Interest rate contracts | Other income | 18 | — | |||||||||||||||||||||
Equity compensation contracts | Personnel | 217 | (89 | ) | ||||||||||||||||||||
Loss before income taxes | (584 | ) | (726 | ) | ||||||||||||||||||||
Income tax benefit | (216 | ) | (268 | ) | ||||||||||||||||||||
Net loss | (368 | ) | (458 | ) | ||||||||||||||||||||
Employee benefit plans: | ||||||||||||||||||||||||
Prior service cost | Personnel | (3 | ) | (9 | ) | |||||||||||||||||||
Transition obligation | Personnel | — | (31 | ) | ||||||||||||||||||||
Net actuarial losses | Personnel | (199 | ) | (329 | ) | |||||||||||||||||||
Settlements and curtailments | Personnel | (2 | ) | (62 | ) | |||||||||||||||||||
Loss before income taxes | (204 | ) | (431 | ) | ||||||||||||||||||||
Income tax benefit | (68 | ) | (157 | ) | ||||||||||||||||||||
Net loss | (136 | ) | (274 | ) | ||||||||||||||||||||
Foreign currency: | ||||||||||||||||||||||||
Insignificant items | Other loss | (31 | ) | (2 | ) | |||||||||||||||||||
Loss before income taxes | (31 | ) | (2 | ) | ||||||||||||||||||||
Income tax benefit | (32 | ) | (2 | ) | ||||||||||||||||||||
Net income | 1 | — | ||||||||||||||||||||||
Total reclassification adjustments | $ | 525 | $ | 191 | ||||||||||||||||||||
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Calculation of earnings per common share and diluted earnings per common share | The calculation of earnings per common share (EPS) and diluted EPS for the three and nine months ended September 30, 2013 and 2012 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K. | |||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||
(Dollars in millions, except per share information; shares in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Earnings per common share | ||||||||||||||||
Net income | $ | 2,497 | $ | 340 | $ | 7,992 | $ | 3,456 | ||||||||
Preferred stock dividends | (279 | ) | (373 | ) | (1,093 | ) | (1,063 | ) | ||||||||
Net income (loss) applicable to common shareholders | $ | 2,218 | $ | (33 | ) | $ | 6,899 | $ | 2,393 | |||||||
Dividends and undistributed earnings allocated to participating securities | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Net income (loss) allocated to common shareholders | $ | 2,217 | $ | (33 | ) | $ | 6,897 | $ | 2,391 | |||||||
Average common shares issued and outstanding | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 | ||||||||||||
Earnings per common share | $ | 0.21 | $ | 0 | $ | 0.64 | $ | 0.22 | ||||||||
Diluted earnings per common share | ||||||||||||||||
Net income (loss) applicable to common shareholders | $ | 2,218 | $ | (33 | ) | $ | 6,899 | $ | 2,393 | |||||||
Add preferred stock dividends due to assumed conversions | 75 | — | 225 | — | ||||||||||||
Dividends and undistributed earnings allocated to participating securities | (1 | ) | — | (2 | ) | (2 | ) | |||||||||
Net income (loss) allocated to common shareholders | $ | 2,292 | $ | (33 | ) | $ | 7,122 | $ | 2,391 | |||||||
Average common shares issued and outstanding | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 | ||||||||||||
Dilutive potential common shares (1) | 763,308 | — | 759,433 | 91,042 | ||||||||||||
Total diluted average common shares issued and outstanding | 11,482,226 | 10,776,173 | 11,523,649 | 10,826,503 | ||||||||||||
Diluted earnings per common share | $ | 0.2 | $ | 0 | $ | 0.62 | $ | 0.22 | ||||||||
(1) | Includes incremental shares from restricted stock units, restricted stock, stock options and warrants |
Pension_and_Postretirement_Pla1
Pension and Postretirement Plans (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||
Net Periodic benefit cost (income) | Net periodic benefit cost of the Corporation's plans for the three and nine months ended September 30, 2013 and 2012 included the following components. | |||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
(Dollars in millions) | Qualified Pension Plan | Non-U.S. Pension Plans | Nonqualified and Other Pension Plans (1) | Postretirement | ||||||||||||
Health and Life | ||||||||||||||||
Plans | ||||||||||||||||
Service cost | $ | — | $ | 8 | $ | — | $ | 1 | ||||||||
Interest cost | 157 | 26 | 30 | 13 | ||||||||||||
Expected return on plan assets | (258 | ) | (31 | ) | (27 | ) | (2 | ) | ||||||||
Amortization of prior service cost | — | — | — | 1 | ||||||||||||
Amortization of net actuarial loss (gain) | 63 | 1 | 7 | (16 | ) | |||||||||||
Recognized loss due to settlements and curtailments | — | — | 2 | — | ||||||||||||
Net periodic benefit cost (income) | $ | (38 | ) | $ | 4 | $ | 12 | $ | (3 | ) | ||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Service cost | $ | 5 | $ | 10 | $ | — | $ | 3 | ||||||||
Interest cost | 170 | 25 | 34 | 19 | ||||||||||||
Expected return on plan assets | (313 | ) | (36 | ) | (38 | ) | (3 | ) | ||||||||
Amortization of transition obligation | — | — | — | 15 | ||||||||||||
Amortization of prior service cost | — | — | — | 2 | ||||||||||||
Amortization of net actuarial loss (gain) | 116 | (2 | ) | 2 | (21 | ) | ||||||||||
Net periodic benefit cost (income) | $ | (22 | ) | $ | (3 | ) | $ | (2 | ) | $ | 15 | |||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Service cost | $ | — | $ | 25 | $ | 1 | $ | 8 | ||||||||
Interest cost | 459 | 76 | 89 | 41 | ||||||||||||
Expected return on plan assets | (763 | ) | (94 | ) | (82 | ) | (4 | ) | ||||||||
Amortization of prior service cost | — | — | — | 3 | ||||||||||||
Amortization of net actuarial loss (gain) | 204 | 2 | 19 | (26 | ) | |||||||||||
Recognized loss (gain) due to settlements and curtailments | 17 | (7 | ) | 2 | — | |||||||||||
Net periodic benefit cost (income) | $ | (83 | ) | $ | 2 | $ | 29 | $ | 22 | |||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Service cost | $ | 236 | $ | 30 | $ | — | $ | 10 | ||||||||
Interest cost | 511 | 74 | 104 | 55 | ||||||||||||
Expected return on plan assets | (934 | ) | (105 | ) | (114 | ) | (6 | ) | ||||||||
Amortization of transition obligation | — | — | — | 31 | ||||||||||||
Amortization of prior service cost (credits) | 9 | — | (4 | ) | 4 | |||||||||||
Amortization of net actuarial loss (gain) | 354 | (6 | ) | 7 | (31 | ) | ||||||||||
Recognized loss due to settlements and curtailments | 58 | — | 4 | — | ||||||||||||
Net periodic benefit cost (income) | $ | 234 | $ | (7 | ) | $ | (3 | ) | $ | 63 | ||||||
(1) | Includes nonqualified pension plans and the terminated Merrill Lynch U.S. pension plan. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||||||||||||||
Fair value Assets and liabilities measured on Recurring basis | Assets and liabilities carried at fair value on a recurring basis at September 30, 2013 and December 31, 2012, including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables. | ||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 (1) | Level 2 (1) | Level 3 | Netting | Assets/Liabilities | ||||||||||||||||||||||||||
Adjustments (2) | at Fair Value | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $ | — | $ | 102,899 | $ | — | $ | — | $ | 102,899 | |||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 46,478 | 12,772 | — | — | 59,250 | ||||||||||||||||||||||||||
Corporate securities, trading loans and other | 974 | 29,513 | 3,780 | — | 34,267 | ||||||||||||||||||||||||||
Equity securities | 31,911 | 16,051 | 338 | — | 48,300 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 32,134 | 11,603 | 388 | — | 44,125 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 10,744 | 4,520 | — | 15,264 | ||||||||||||||||||||||||||
Total trading account assets | 111,497 | 80,683 | 9,026 | — | 201,206 | ||||||||||||||||||||||||||
Derivative assets (3) | 4,329 | 977,921 | 7,527 | (936,616 | ) | 53,161 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 514 | 2,457 | — | — | 2,971 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 169,025 | — | — | 169,025 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 27,335 | — | — | 27,335 | ||||||||||||||||||||||||||
Non-agency residential | — | 6,929 | — | — | 6,929 | ||||||||||||||||||||||||||
Commercial | — | 2,827 | — | — | 2,827 | ||||||||||||||||||||||||||
Non-U.S. securities | 2,467 | 3,668 | 105 | — | 6,240 | ||||||||||||||||||||||||||
Corporate/Agency bonds | — | 1,162 | 8 | — | 1,170 | ||||||||||||||||||||||||||
Other taxable securities | 20 | 9,132 | 4,013 | — | 13,165 | ||||||||||||||||||||||||||
Tax-exempt securities | — | 4,417 | 817 | — | 5,234 | ||||||||||||||||||||||||||
Total AFS debt securities | 3,001 | 226,952 | 4,943 | — | 234,896 | ||||||||||||||||||||||||||
Other debt securities carried at fair value: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 18,626 | — | — | 18,626 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 563 | — | — | 563 | ||||||||||||||||||||||||||
Commercial | — | 758 | — | — | 758 | ||||||||||||||||||||||||||
Non-U.S. securities | 9,740 | 1,766 | — | — | 11,506 | ||||||||||||||||||||||||||
Total other debt securities carried at fair value | 9,740 | 21,713 | — | — | 31,453 | ||||||||||||||||||||||||||
Loans and leases | — | 7,180 | 3,016 | — | 10,196 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 5,058 | — | 5,058 | ||||||||||||||||||||||||||
Loans held-for-sale | — | 7,304 | 913 | — | 8,217 | ||||||||||||||||||||||||||
Other assets | 14,009 | 2,317 | 1,878 | — | 18,204 | ||||||||||||||||||||||||||
Total assets | $ | 142,576 | $ | 1,426,969 | $ | 32,361 | $ | (936,616 | ) | $ | 665,290 | ||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Interest-bearing deposits in U.S. offices | $ | — | $ | 1,916 | $ | — | $ | — | $ | 1,916 | |||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | — | 61,917 | — | — | 61,917 | ||||||||||||||||||||||||||
Trading account liabilities: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 24,046 | 349 | — | — | 24,395 | ||||||||||||||||||||||||||
Equity securities | 23,256 | 3,604 | — | — | 26,860 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 22,119 | 1,502 | — | — | 23,621 | ||||||||||||||||||||||||||
Corporate securities and other | 529 | 7,259 | 49 | — | 7,837 | ||||||||||||||||||||||||||
Total trading account liabilities | 69,950 | 12,714 | 49 | — | 82,713 | ||||||||||||||||||||||||||
Derivative liabilities (3) | 5,167 | 962,675 | 6,759 | (930,033 | ) | 44,568 | |||||||||||||||||||||||||
Short-term borrowings | — | 2,844 | — | — | 2,844 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities | 8,627 | 964 | 31 | — | 9,622 | ||||||||||||||||||||||||||
Long-term debt | — | 45,338 | 2,063 | — | 47,401 | ||||||||||||||||||||||||||
Total liabilities | $ | 83,744 | $ | 1,088,368 | $ | 8,902 | $ | (930,033 | ) | $ | 250,981 | ||||||||||||||||||||
(1) | During the nine months ended September 30, 2013, $500 million of other assets were transferred from Level 1 to Level 2 primarily due to a restriction that became effective for a private equity investment. | ||||||||||||||||||||||||||||||
(2) | Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. | ||||||||||||||||||||||||||||||
(3) | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. | ||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||
(Dollars in millions) | Level 1 (1) | Level 2 (1) | Level 3 | Netting | Assets/Liabilities | ||||||||||||||||||||||||||
Adjustments (2) | at Fair Value | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $ | — | $ | 98,670 | $ | — | $ | — | $ | 98,670 | |||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 57,655 | 29,319 | — | — | 86,974 | ||||||||||||||||||||||||||
Corporate securities, trading loans and other | 1,292 | 32,882 | 3,726 | — | 37,900 | ||||||||||||||||||||||||||
Equity securities | 28,144 | 14,626 | 545 | — | 43,315 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 29,254 | 13,139 | 353 | — | 42,746 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 11,905 | 4,935 | — | 16,840 | ||||||||||||||||||||||||||
Total trading account assets | 116,345 | 101,871 | 9,559 | — | 227,775 | ||||||||||||||||||||||||||
Derivative assets (3) | 2,997 | 1,372,398 | 8,073 | (1,329,971 | ) | 53,497 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 21,514 | 2,958 | — | — | 24,472 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 188,149 | — | — | 188,149 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 37,538 | — | — | 37,538 | ||||||||||||||||||||||||||
Non-agency residential | — | 9,494 | — | — | 9,494 | ||||||||||||||||||||||||||
Non-agency commercial | — | 3,914 | 10 | — | 3,924 | ||||||||||||||||||||||||||
Non-U.S. securities | 2,637 | 2,981 | — | — | 5,618 | ||||||||||||||||||||||||||
Corporate/Agency bonds | — | 1,358 | 92 | — | 1,450 | ||||||||||||||||||||||||||
Other taxable securities | 20 | 8,180 | 3,928 | — | 12,128 | ||||||||||||||||||||||||||
Tax-exempt securities | — | 3,072 | 1,061 | — | 4,133 | ||||||||||||||||||||||||||
Total AFS debt securities | 24,171 | 257,644 | 5,091 | — | 286,906 | ||||||||||||||||||||||||||
Other debt securities carried at fair value: | |||||||||||||||||||||||||||||||
U.S. Treasury securities and agency securities | 491 | — | — | — | 491 | ||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | — | 13,073 | — | — | 13,073 | ||||||||||||||||||||||||||
Agency-collateralized mortgage obligations | — | 929 | — | — | 929 | ||||||||||||||||||||||||||
Non-U.S. securities | 9,151 | 300 | — | — | 9,451 | ||||||||||||||||||||||||||
Total other debt securities carried at fair value | 9,642 | 14,302 | — | — | 23,944 | ||||||||||||||||||||||||||
Loans and leases | — | 6,715 | 2,287 | — | 9,002 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | 5,716 | — | 5,716 | ||||||||||||||||||||||||||
Loans held-for-sale | — | 8,926 | 2,733 | — | 11,659 | ||||||||||||||||||||||||||
Other assets | 18,535 | 4,826 | 3,129 | — | 26,490 | ||||||||||||||||||||||||||
Total assets | $ | 171,690 | $ | 1,865,352 | $ | 36,588 | $ | (1,329,971 | ) | $ | 743,659 | ||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||
Interest-bearing deposits in U.S. offices | $ | — | $ | 2,262 | $ | — | $ | — | $ | 2,262 | |||||||||||||||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | — | 42,639 | — | — | 42,639 | ||||||||||||||||||||||||||
Trading account liabilities: | |||||||||||||||||||||||||||||||
U.S. government and agency securities | 22,351 | 1,079 | — | — | 23,430 | ||||||||||||||||||||||||||
Equity securities | 19,852 | 2,640 | — | — | 22,492 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | 18,875 | 1,369 | — | — | 20,244 | ||||||||||||||||||||||||||
Corporate securities and other | 487 | 6,870 | 64 | — | 7,421 | ||||||||||||||||||||||||||
Total trading account liabilities | 61,565 | 11,958 | 64 | — | 73,587 | ||||||||||||||||||||||||||
Derivative liabilities (3) | 2,859 | 1,355,309 | 6,605 | (1,318,757 | ) | 46,016 | |||||||||||||||||||||||||
Short-term borrowings | — | 4,074 | — | — | 4,074 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities | 15,457 | 1,122 | 15 | — | 16,594 | ||||||||||||||||||||||||||
Long-term debt | — | 46,860 | 2,301 | — | 49,161 | ||||||||||||||||||||||||||
Total liabilities | $ | 79,881 | $ | 1,464,224 | $ | 8,985 | $ | (1,318,757 | ) | $ | 234,333 | ||||||||||||||||||||
(1) | During 2012, $2.0 billion and $350 million of assets and liabilities were transferred from Level 1 to Level 2, and $785 million and $40 million of assets and liabilities were transferred from Level 2 to Level 1. Of the asset transfers from Level 1 to Level 2, $940 million was due to a restriction that became effective for a private equity investment during 2012, while $535 million of the transfers from Level 2 to Level 1 was due to the lapse of this restriction during 2012. The remaining transfers were the result of additional information associated with certain equities, derivative contracts and private equity investments. | ||||||||||||||||||||||||||||||
(2) | Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. | ||||||||||||||||||||||||||||||
(3) | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. | ||||||||||||||||||||||||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings | The following tables present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2013 and 2012, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. | ||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jul | (Losses) in | (Losses) in | Transfers | Transfers | 2013 | ||||||||||||||||||||||||||
2013 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 2,763 | $ | 133 | $ | — | $ | 2,002 | $ | (892 | ) | $ | 22 | $ | (205 | ) | $ | 187 | $ | (230 | ) | $ | 3,780 | ||||||||
Equity securities | 464 | 4 | — | 20 | (16 | ) | — | (100 | ) | 8 | (42 | ) | 338 | ||||||||||||||||||
Non-U.S. sovereign debt | 401 | 11 | — | 3 | (14 | ) | — | (10 | ) | — | (3 | ) | 388 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,685 | (7 | ) | — | 350 | (443 | ) | — | (74 | ) | 13 | (4 | ) | 4,520 | |||||||||||||||||
Total trading account assets | 8,313 | 141 | — | 2,375 | (1,365 | ) | 22 | (389 | ) | 208 | (279 | ) | 9,026 | ||||||||||||||||||
Net derivative assets (2) | 1,173 | (499 | ) | — | 126 | (102 | ) | — | (147 | ) | 116 | 101 | 768 | ||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | 5 | — | — | — | — | — | 100 | — | 105 | |||||||||||||||||||||
Corporate/Agency bonds | 8 | — | — | — | — | — | — | — | — | 8 | |||||||||||||||||||||
Other taxable securities | 4,157 | 2 | (2 | ) | 215 | — | — | (359 | ) | — | — | 4,013 | |||||||||||||||||||
Tax-exempt securities | 877 | 2 | 1 | — | — | — | (63 | ) | — | — | 817 | ||||||||||||||||||||
Total AFS debt securities | 5,042 | 9 | (1 | ) | 215 | — | — | (422 | ) | 100 | — | 4,943 | |||||||||||||||||||
Loans and leases (3, 4) | 1,901 | (20 | ) | — | — | — | 1,247 | (119 | ) | 12 | (5 | ) | 3,016 | ||||||||||||||||||
Mortgage servicing rights (4) | 5,827 | 71 | — | — | (729 | ) | 129 | (240 | ) | — | — | 5,058 | |||||||||||||||||||
Loans held-for-sale (3) | 2,153 | 40 | — | — | — | 3 | (1,283 | ) | — | — | 913 | ||||||||||||||||||||
Other assets (5) | 1,700 | 3 | — | 1 | (35 | ) | — | (30 | ) | 239 | — | 1,878 | |||||||||||||||||||
Trading account liabilities – Corporate securities and other | (55 | ) | 1 | — | 6 | (9 | ) | — | — | — | 8 | (49 | ) | ||||||||||||||||||
Accrued expenses and other liabilities (3) | (230 | ) | 8 | — | — | — | — | 189 | — | 2 | (31 | ) | |||||||||||||||||||
Long-term debt (3) | (1,890 | ) | (62 | ) | — | 47 | — | (47 | ) | 46 | (485 | ) | 328 | (2,063 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of private equity investments. | ||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jan | (Losses) in | (Losses) in | Transfers | Transfers | 2013 | ||||||||||||||||||||||||||
2013 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 3,726 | $ | 256 | $ | — | $ | 3,519 | $ | (2,817 | ) | $ | 22 | $ | (444 | ) | $ | 629 | $ | (1,111 | ) | $ | 3,780 | ||||||||
Equity securities | 545 | 54 | — | 77 | (160 | ) | — | (100 | ) | 45 | (123 | ) | 338 | ||||||||||||||||||
Non-U.S. sovereign debt | 353 | 56 | — | 29 | (15 | ) | — | (32 | ) | 1 | (4 | ) | 388 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,935 | 165 | — | 1,981 | (1,777 | ) | — | (775 | ) | 18 | (27 | ) | 4,520 | ||||||||||||||||||
Total trading account assets | 9,559 | 531 | — | 5,606 | (4,769 | ) | 22 | (1,351 | ) | 693 | (1,265 | ) | 9,026 | ||||||||||||||||||
Net derivative assets (2) | 1,468 | 186 | — | 509 | (762 | ) | — | (1,190 | ) | (46 | ) | 603 | 768 | ||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Commercial MBS | 10 | — | — | — | — | — | (10 | ) | — | — | — | ||||||||||||||||||||
Non-U.S. securities | — | 5 | — | 1 | (1 | ) | — | — | 100 | — | 105 | ||||||||||||||||||||
Corporate/Agency bonds | 92 | — | 4 | — | — | — | — | — | (88 | ) | 8 | ||||||||||||||||||||
Other taxable securities | 3,928 | 5 | 10 | 825 | — | — | (750 | ) | — | (5 | ) | 4,013 | |||||||||||||||||||
Tax-exempt securities | 1,061 | 3 | 15 | — | — | — | (94 | ) | — | (168 | ) | 817 | |||||||||||||||||||
Total AFS debt securities | 5,091 | 13 | 29 | 826 | (1 | ) | — | (854 | ) | 100 | (261 | ) | 4,943 | ||||||||||||||||||
Loans and leases (3, 4) | 2,287 | 80 | — | 71 | — | 1,252 | (665 | ) | 12 | (21 | ) | 3,016 | |||||||||||||||||||
Mortgage servicing rights (4) | 5,716 | 1,531 | — | — | (1,774 | ) | 399 | (814 | ) | — | — | 5,058 | |||||||||||||||||||
Loans held-for-sale (3) | 2,733 | 20 | — | 8 | (390 | ) | 3 | (1,492 | ) | 34 | (3 | ) | 913 | ||||||||||||||||||
Other assets (5) | 3,129 | (324 | ) | — | 43 | (218 | ) | — | (936 | ) | 239 | (55 | ) | 1,878 | |||||||||||||||||
Trading account liabilities – Corporate securities and other | (64 | ) | 7 | — | 24 | (40 | ) | (5 | ) | — | (9 | ) | 38 | (49 | ) | ||||||||||||||||
Accrued expenses and other liabilities (3) | (15 | ) | 30 | — | — | — | (751 | ) | 703 | (1 | ) | 3 | (31 | ) | |||||||||||||||||
Long-term debt (3) | (2,301 | ) | 41 | — | 306 | (4 | ) | (149 | ) | 172 | (1,017 | ) | 889 | (2,063 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of private equity investments. | ||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jul | (Losses) in | (Losses) in | Transfers | Transfers | 2012 | ||||||||||||||||||||||||||
2012 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | 4,459 | $ | 69 | $ | — | $ | 750 | $ | (848 | ) | $ | — | $ | (101 | ) | $ | 158 | $ | (314 | ) | $ | 4,173 | ||||||||
Equity securities | 597 | 15 | — | 43 | (12 | ) | — | (9 | ) | 5 | (66 | ) | 573 | ||||||||||||||||||
Non-U.S. sovereign debt | 389 | 7 | — | 30 | (112 | ) | — | (4 | ) | — | (7 | ) | 303 | ||||||||||||||||||
Mortgage trading loans and ABS | 4,818 | 111 | — | 380 | (279 | ) | — | (124 | ) | 3 | (3 | ) | 4,906 | ||||||||||||||||||
Total trading account assets | 10,263 | 202 | — | 1,203 | (1,251 | ) | — | (238 | ) | 166 | (390 | ) | 9,955 | ||||||||||||||||||
Net derivative assets (2) | 4,601 | (256 | ) | — | 78 | (211 | ) | — | (918 | ) | (350 | ) | 16 | 2,960 | |||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Non-agency residential | 1 | — | — | — | — | — | — | — | — | 1 | |||||||||||||||||||||
Non-agency commercial | 24 | — | — | — | — | — | (1 | ) | — | — | 23 | ||||||||||||||||||||
Corporate/Agency bonds | 93 | — | — | — | — | — | — | — | — | 93 | |||||||||||||||||||||
Other taxable securities | 4,558 | — | 28 | 600 | — | — | (65 | ) | — | — | 5,121 | ||||||||||||||||||||
Tax-exempt securities | 1,140 | 7 | (7 | ) | — | (63 | ) | — | (16 | ) | — | — | 1,061 | ||||||||||||||||||
Total AFS debt securities | 5,816 | 7 | 21 | 600 | (63 | ) | — | (82 | ) | — | — | 6,299 | |||||||||||||||||||
Loans and leases (3, 4) | 1,635 | 69 | — | 317 | (150 | ) | — | (65 | ) | 450 | (3 | ) | 2,253 | ||||||||||||||||||
Mortgage servicing rights (4) | 5,708 | (360 | ) | — | — | (15 | ) | 100 | (346 | ) | — | — | 5,087 | ||||||||||||||||||
Loans held-for-sale (3) | 2,741 | 86 | — | 596 | (19 | ) | — | (104 | ) | 13 | — | 3,313 | |||||||||||||||||||
Other assets (5) | 3,136 | 24 | — | 40 | (183 | ) | — | (39 | ) | — | — | 2,978 | |||||||||||||||||||
Trading account liabilities – Corporate securities and other | (143 | ) | 4 | — | 17 | (45 | ) | — | — | — | 2 | (165 | ) | ||||||||||||||||||
Short-term borrowings (3) | — | — | — | — | — | (232 | ) | — | — | — | (232 | ) | |||||||||||||||||||
Accrued expenses and other liabilities (3) | (2 | ) | — | — | — | — | (7 | ) | — | — | — | (9 | ) | ||||||||||||||||||
Long-term debt (3) | (2,388 | ) | (91 | ) | — | 70 | — | (115 | ) | 391 | (531 | ) | 374 | (2,290 | ) | ||||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | ||||||||||||||||||||||||||||||
(3) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(4) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(5) | Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | ||||||||||||||||||||||||||||||
Level 3 – Fair Value Measurements (1) | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||||||||
(Dollars in millions) | Balance | Gains | Gains | Purchases | Sales | Issuances | Settlements | Gross | Gross | Balance September 30 | |||||||||||||||||||||
1-Jan | (Losses) in | (Losses) in | Transfers | Transfers | 2012 | ||||||||||||||||||||||||||
2012 | Earnings | OCI | into | out of | |||||||||||||||||||||||||||
Level 3 | Level 3 | ||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other (2) | $ | 6,880 | $ | 192 | $ | — | $ | 1,995 | $ | (3,498 | ) | $ | — | $ | (846 | ) | $ | 315 | $ | (865 | ) | $ | 4,173 | ||||||||
Equity securities | 544 | 24 | — | 167 | (159 | ) | — | 27 | 38 | (68 | ) | 573 | |||||||||||||||||||
Non-U.S. sovereign debt | 342 | 5 | — | 338 | (359 | ) | — | (4 | ) | — | (19 | ) | 303 | ||||||||||||||||||
Mortgage trading loans and ABS (2) | 3,689 | 194 | — | 1,747 | (915 | ) | — | (386 | ) | 745 | (168 | ) | 4,906 | ||||||||||||||||||
Total trading account assets | 11,455 | 415 | — | 4,247 | (4,931 | ) | — | (1,209 | ) | 1,098 | (1,120 | ) | 9,955 | ||||||||||||||||||
Net derivative assets (3) | 5,866 | 17 | — | 791 | (833 | ) | — | (2,228 | ) | (283 | ) | (370 | ) | 2,960 | |||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||
Agency | 37 | — | — | — | — | — | (4 | ) | — | (33 | ) | — | |||||||||||||||||||
Non-agency residential | 860 | (69 | ) | 19 | — | (305 | ) | — | (2 | ) | — | (502 | ) | 1 | |||||||||||||||||
Non-agency commercial | 40 | — | — | — | (11 | ) | — | (6 | ) | — | — | 23 | |||||||||||||||||||
Corporate/Agency bonds | 162 | (2 | ) | — | (2 | ) | — | — | (38 | ) | — | (27 | ) | 93 | |||||||||||||||||
Other taxable securities | 4,265 | 7 | 51 | 1,558 | — | — | (551 | ) | — | (209 | ) | 5,121 | |||||||||||||||||||
Tax-exempt securities | 2,648 | 61 | 18 | — | (132 | ) | — | (1,534 | ) | — | — | 1,061 | |||||||||||||||||||
Total AFS debt securities | 8,012 | (3 | ) | 88 | 1,556 | (448 | ) | — | (2,135 | ) | — | (771 | ) | 6,299 | |||||||||||||||||
Loans and leases (4, 5) | 2,744 | 284 | — | 317 | (1,308 | ) | — | (229 | ) | 450 | (5 | ) | 2,253 | ||||||||||||||||||
Mortgage servicing rights (5) | 7,378 | (1,297 | ) | — | — | (113 | ) | 268 | (1,149 | ) | — | — | 5,087 | ||||||||||||||||||
Loans held-for-sale (4) | 3,387 | 265 | — | 606 | (40 | ) | — | (330 | ) | 57 | (632 | ) | 3,313 | ||||||||||||||||||
Other assets (6) | 4,235 | (110 | ) | — | 89 | (950 | ) | — | (275 | ) | — | (11 | ) | 2,978 | |||||||||||||||||
Trading account liabilities – Corporate securities and other | (114 | ) | 4 | — | 72 | (114 | ) | — | — | (65 | ) | 52 | (165 | ) | |||||||||||||||||
Short-term borrowings (4) | — | — | — | — | — | (232 | ) | — | — | — | (232 | ) | |||||||||||||||||||
Accrued expenses and other liabilities (4) | (14 | ) | 4 | — | 5 | — | (7 | ) | — | — | 3 | (9 | ) | ||||||||||||||||||
Long-term debt (4) | (2,943 | ) | (239 | ) | — | 188 | (33 | ) | (253 | ) | 1,099 | (1,569 | ) | 1,460 | (2,290 | ) | |||||||||||||||
(1) | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | ||||||||||||||||||||||||||||||
(2) | During the nine months ended September 30, 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and a purchase of Trading account assets - Mortgage trading loans and ABS. | ||||||||||||||||||||||||||||||
(3) | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | ||||||||||||||||||||||||||||||
(4) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
(5) | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | ||||||||||||||||||||||||||||||
(6) | Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | ||||||||||||||||||||||||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | The following tables summarize changes in unrealized gains (losses) recorded in earnings during the three and nine months ended September 30, 2013 and 2012 for Level 3 assets and liabilities that were still held at September 30, 2013 and 2012. These amounts include changes in fair value on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | (6 | ) | $ | — | $ | — | $ | (6 | ) | |||||||||||||||||||
Equity securities | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | (55 | ) | — | — | (55 | ) | ||||||||||||||||||||||||
Total trading account assets | — | (52 | ) | — | — | (52 | ) | ||||||||||||||||||||||||
Net derivative assets | — | (754 | ) | 91 | — | (663 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | (35 | ) | 27 | (8 | ) | ||||||||||||||||||||||||
Mortgage servicing rights | — | — | (14 | ) | — | (14 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | — | 35 | 35 | ||||||||||||||||||||||||||
Other assets | 17 | — | 11 | (13 | ) | 15 | |||||||||||||||||||||||||
Long-term debt (2) | — | (31 | ) | — | (31 | ) | (62 | ) | |||||||||||||||||||||||
Total | $ | 17 | $ | (837 | ) | $ | 53 | $ | 18 | $ | (749 | ) | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 36 | $ | — | $ | — | $ | 36 | |||||||||||||||||||||
Equity securities | — | 13 | — | — | 13 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 8 | — | — | 8 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 89 | — | — | 89 | ||||||||||||||||||||||||||
Total trading account assets | — | 146 | — | — | 146 | ||||||||||||||||||||||||||
Net derivative assets | — | (1,202 | ) | 566 | — | (636 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 76 | 76 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (552 | ) | — | (552 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 15 | 68 | 83 | ||||||||||||||||||||||||||
Other assets | 115 | — | (14 | ) | 4 | 105 | |||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||
Long-term debt (2) | — | (46 | ) | — | (46 | ) | (92 | ) | |||||||||||||||||||||||
Total | $ | 115 | $ | (1,102 | ) | $ | 15 | $ | 100 | $ | (872 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 48 | $ | — | $ | — | $ | 48 | |||||||||||||||||||||
Equity securities | — | 26 | — | — | 26 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 70 | — | — | 70 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Total trading account assets | — | 149 | — | — | 149 | ||||||||||||||||||||||||||
Net derivative assets | — | (853 | ) | 92 | — | (761 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | (35 | ) | 133 | 98 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 1,276 | — | 1,276 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 6 | 25 | 31 | ||||||||||||||||||||||||||
Other assets | 23 | — | 159 | (51 | ) | 131 | |||||||||||||||||||||||||
Long-term debt (2) | — | 6 | — | (9 | ) | (3 | ) | ||||||||||||||||||||||||
Total | $ | 23 | $ | (698 | ) | $ | 1,498 | $ | 98 | $ | 921 | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 95 | $ | — | $ | — | $ | 95 | |||||||||||||||||||||
Equity securities | — | 24 | — | — | 24 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 16 | — | — | 16 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 119 | — | — | 119 | ||||||||||||||||||||||||||
Total trading account assets | — | 254 | — | — | 254 | ||||||||||||||||||||||||||
Net derivative assets | — | (2,526 | ) | 627 | — | (1,899 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 172 | 172 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (1,804 | ) | — | (1,804 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 65 | 127 | 192 | ||||||||||||||||||||||||||
Other assets | 90 | — | (54 | ) | (95 | ) | (59 | ) | |||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 3 | — | — | 3 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (105 | ) | — | (134 | ) | (239 | ) | |||||||||||||||||||||||
Total | $ | 90 | $ | (2,374 | ) | $ | (1,166 | ) | $ | 70 | $ | (3,380 | ) | ||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Fair Value Inputs, Assets and Liabilities, Quantitative Information | The following tables present information about significant unobservable inputs related to the Corporation's material categories of Level 3 financial assets and liabilities at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Loans and Securities (1) | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 3,331 | Discounted cash flow, Market comparables | Yield | 2% to 25% | 7 | % | ||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 356 | Prepayment speed | 0% to 35% CPR | 9 | % | ||||||||||||||||||||||||||
Loans and leases | 2,366 | Default rate | 0% to 20% CDR | 7 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 609 | Loss severity | 0% to 85% | 37 | % | ||||||||||||||||||||||||||
Commercial loans, debt securities and other | $ | 11,973 | Discounted cash flow, Market comparables | Yield | 0% to 45% | 3 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 3,686 | Enterprise value/EBITDA multiple | 0x to 19x | 6 | x | ||||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 4,164 | Prepayment speed | 5% to 40% | 20 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 3,169 | Default rate | 1% to 5% | 4 | % | ||||||||||||||||||||||||||
Loans and leases | 650 | Loss severity | 25% to 40% | 35 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 304 | ||||||||||||||||||||||||||||||
Auction rate securities | $ | 1,755 | Discounted cash flow, Market comparables | Projected tender price/Re-financing level | 50% to 100% | 95 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 94 | ||||||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 844 | ||||||||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | 817 | ||||||||||||||||||||||||||||||
Structured liabilities | |||||||||||||||||||||||||||||||
Long-term debt | $ | (2,063 | ) | Industry standard derivative pricing (2) | Equity correlation | 18% to 98% | 66 | % | |||||||||||||||||||||||
Long-dated volatilities | 4% to 69% | 25 | % | ||||||||||||||||||||||||||||
Net derivatives assets | |||||||||||||||||||||||||||||||
Credit derivatives | $ | 1,300 | Discounted cash flow, Stochastic recovery correlation model | Yield | 4% to 25% | 16 | % | ||||||||||||||||||||||||
Credit spreads | 29 bps to 183 bps | 170 bps | |||||||||||||||||||||||||||||
Upfront points | 0 points to 100 points | 63 points | |||||||||||||||||||||||||||||
Spread to index | -1,731 bps to 1,681 bps | 207 bps | |||||||||||||||||||||||||||||
Credit correlation | 21% to 73% | 45 | % | ||||||||||||||||||||||||||||
Prepayment speed | 3% to 40% CPR | 14 | % | ||||||||||||||||||||||||||||
Default rate | 1% to 5% CDR | 3 | % | ||||||||||||||||||||||||||||
Loss severity | 20% to 42% | 35 | % | ||||||||||||||||||||||||||||
Equity derivatives | $ | (918 | ) | Industry standard derivative pricing (2) | Equity correlation | 18% to 98% | 66 | % | |||||||||||||||||||||||
Long-dated volatilities | 4% to 69% | 25 | % | ||||||||||||||||||||||||||||
Commodity derivatives | $ | 11 | Discounted cash flow, Industry standard derivative pricing (2) | Natural gas forward price | $3/MMBtu to $12/MMBtu | $7/MMBtu | |||||||||||||||||||||||||
Correlation | 47% to 94% | 81 | % | ||||||||||||||||||||||||||||
Volatilities | 9% to 84% | 29 | % | ||||||||||||||||||||||||||||
Interest rate derivatives | $ | 375 | Industry standard derivative pricing (3) | Correlation (IR/IR) | 24% to 99% | 61 | % | ||||||||||||||||||||||||
Correlation (FX/IR) | -65% to 50% | -2 | % | ||||||||||||||||||||||||||||
Long-dated inflation volatilities | 0% to 2% | 1 | % | ||||||||||||||||||||||||||||
Total net derivative assets | $ | 768 | |||||||||||||||||||||||||||||
(1) | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 237: Trading account assets – Corporate securities, trading loans and other of $3.8 billion, Trading account assets – Mortgage trading loans and ABS of $4.5 billion, AFS debt securities – Other taxable securities of $4.0 billion, AFS debt securities – Tax-exempt securities of $817 million, Loans and leases of $3.0 billion and LHFS of $913 million. | ||||||||||||||||||||||||||||||
(2) | Includes models such as Monte Carlo simulation and Black-Scholes. | ||||||||||||||||||||||||||||||
(3) | Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. | ||||||||||||||||||||||||||||||
CPR =onstant Prepayment Rate | |||||||||||||||||||||||||||||||
CDR =onstant Default Rate | |||||||||||||||||||||||||||||||
EBITDA =arnings before interest, taxes, depreciation and amortization | |||||||||||||||||||||||||||||||
MMBtu =illion British thermal units | |||||||||||||||||||||||||||||||
IR =nterest Rate | |||||||||||||||||||||||||||||||
FX =oreign Exchange | |||||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements for Loans, Securities and Structured Liabilities at December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Loans and Securities (1) | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 4,478 | Discounted cash flow, Market comparables | Yield | 2% to 25% | 6 | % | ||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 459 | Prepayment speed | 1% to 30% CPR | 10 | % | ||||||||||||||||||||||||||
Loans and leases | 1,286 | Default rate | 0% to 44% CDR | 6 | % | ||||||||||||||||||||||||||
Loans held-for-sale | 2,733 | Loss severity | 6% to 85% | 43 | % | ||||||||||||||||||||||||||
Instruments backed by commercial real estate assets | $ | 1,910 | Discounted cash flow | Yield | 5% | n/a | |||||||||||||||||||||||||
Other assets | 1,910 | Loss severity | 51% to 100% | 88 | % | ||||||||||||||||||||||||||
Commercial loans, debt securities and other | $ | 10,778 | Discounted cash flow, Market comparables | Yield | 0% to 25% | 4 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 2,289 | Enterprise value/EBITDA multiple | 2x to 11x | 5x | |||||||||||||||||||||||||||
Trading account assets – Mortgage trading loans and ABS | 4,476 | Prepayment speed | 5% to 30% | 20 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 3,012 | Default rate | 1% to 5% | 4 | % | ||||||||||||||||||||||||||
Loans and leases | 1,001 | Loss severity | 25% to 40% | 35 | % | ||||||||||||||||||||||||||
Auction rate securities | $ | 3,414 | Discounted cash flow, Market comparables | Discount rate | 4% to 5% | 4 | % | ||||||||||||||||||||||||
Trading account assets – Corporate securities, trading loans and other | 1,437 | Projected tender price/Re-financing level | 50% to 100% | 92 | % | ||||||||||||||||||||||||||
AFS debt securities – Other taxable securities | 916 | ||||||||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | 1,061 | ||||||||||||||||||||||||||||||
Structured liabilities | |||||||||||||||||||||||||||||||
Long-term debt (2) | $ | (2,301 | ) | Industry standard derivative pricing (3) | Equity correlation | 30% to 97% | n/m | ||||||||||||||||||||||||
Long-dated volatilities | 20% to 70% | n/m | |||||||||||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements for Net Derivative Assets at December 31, 2012 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation | Significant Unobservable | Ranges of Inputs | |||||||||||||||||||||||||||
Technique | Inputs | ||||||||||||||||||||||||||||||
Net derivatives assets | |||||||||||||||||||||||||||||||
Credit derivatives | $ | 2,327 | Discounted cash flow, Stochastic recovery correlation model | Yield | 2% to 25% | ||||||||||||||||||||||||||
Credit spreads | 58 bps to 615 bps | ||||||||||||||||||||||||||||||
Upfront points | 25 points to 99 points | ||||||||||||||||||||||||||||||
Spread to index | -2,080 bps to 1,972 bps | ||||||||||||||||||||||||||||||
Credit correlation | 19% to 75% | ||||||||||||||||||||||||||||||
Prepayment speed | 3% to 30% CPR | ||||||||||||||||||||||||||||||
Default rate | 0% to 8% CDR | ||||||||||||||||||||||||||||||
Loss severity | 25% to 42% | ||||||||||||||||||||||||||||||
Equity derivatives | $ | (1,295 | ) | Industry standard derivative pricing (3) | Equity correlation | 30% to 97% | |||||||||||||||||||||||||
Long-dated volatilities | 20% to 70% | ||||||||||||||||||||||||||||||
Commodity derivatives | $ | (5 | ) | Discounted cash flow | Natural gas forward price | $3/MMBtu to $12/MMBtu | |||||||||||||||||||||||||
Interest rate derivatives | $ | 441 | Industry standard derivative pricing (4) | Correlation (IR/IR) | 15% to 99% | ||||||||||||||||||||||||||
Correlation (FX/IR) | -65% to 50% | ||||||||||||||||||||||||||||||
Long-dated inflation rates | 2% to 3% | ||||||||||||||||||||||||||||||
Long-dated inflation volatilities | 0% to 1% | ||||||||||||||||||||||||||||||
Long-dated volatilities (FX) | 5% to 36% | ||||||||||||||||||||||||||||||
Long-dated swap rates | 8% to 10% | ||||||||||||||||||||||||||||||
Total net derivative assets | $ | 1,468 | |||||||||||||||||||||||||||||
(1) | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 238: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. | ||||||||||||||||||||||||||||||
(2) | For more information on the ranges of inputs for equity correlation and long-dated volatilities, see the qualitative equity derivatives discussion on page 245. | ||||||||||||||||||||||||||||||
(3) | Includes models such as Monte Carlo simulation and Black-Scholes. | ||||||||||||||||||||||||||||||
(4) | Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. | ||||||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||
n/m =ot meaningful | |||||||||||||||||||||||||||||||
CPR =onstant Prepayment Rate | |||||||||||||||||||||||||||||||
CDR =onstant Default Rate | |||||||||||||||||||||||||||||||
EBITDA =arnings before interest, taxes, depreciation and amortization | |||||||||||||||||||||||||||||||
MMBtu =illion British thermal units | |||||||||||||||||||||||||||||||
IR =nterest Rate | |||||||||||||||||||||||||||||||
FX =oreign Exchange | |||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | |||||||||||||||||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||||||||||||
September 30, 2013 | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollars in millions) | Level 2 | Level 3 | Gains (Losses) | ||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 4,266 | $ | 274 | $ | 1 | $ | (66 | ) | ||||||||||||||||||||||
Loans and leases (1) | 23 | 5,114 | (281 | ) | (985 | ) | |||||||||||||||||||||||||
Foreclosed properties (2) | 17 | 1,293 | 21 | 23 | |||||||||||||||||||||||||||
Other assets | 78 | 10 | (7 | ) | (15 | ) | |||||||||||||||||||||||||
September 30, 2012 | Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 3,551 | $ | 1,006 | $ | — | $ | (6 | ) | ||||||||||||||||||||||
Loans and leases (1) | 16 | 8,576 | (1,548 | ) | (3,422 | ) | |||||||||||||||||||||||||
Foreclosed properties (2) | 64 | 1,436 | (20 | ) | (68 | ) | |||||||||||||||||||||||||
Other assets | 32 | 111 | (11 | ) | (13 | ) | |||||||||||||||||||||||||
(1) | Losses represent charge-offs on real estate-secured loans. | ||||||||||||||||||||||||||||||
(2) | Amounts are included in other assets on the Consolidated Balance Sheet and represent the fair value of, and related losses on foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. | ||||||||||||||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information | The table below presents information about significant unobservable inputs related to the Corporation's nonrecurring Level 3 financial assets and liabilities at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||
Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Inputs | ||||||||||||||||||||||||||||||
Financial Instrument | Fair Value | Valuation Technique | Significant Unobservable | Ranges of Inputs | Weighted Average | ||||||||||||||||||||||||||
Inputs | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 5,114 | Market comparables | OREO discount | 0% to 19% | 9 | % | ||||||||||||||||||||||||
Loans and leases | 5,114 | Cost to sell | 8% | n/a | |||||||||||||||||||||||||||
Quantitative Information about Nonrecurring Level 3 Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||||||||
Instruments backed by residential real estate assets | $ | 9,932 | Discounted cash flow, Market comparables | Yield | 3% to 5% | 3 | % | ||||||||||||||||||||||||
Loans held-for-sale | 748 | Prepayment speed | 3% to 30% | 15 | % | ||||||||||||||||||||||||||
Loans and leases | 9,184 | Default rate | 0% to 55% | 7 | % | ||||||||||||||||||||||||||
Loss severity | 6% to 66% | 48 | % | ||||||||||||||||||||||||||||
OREO discount | 0% to 28% | 15 | % | ||||||||||||||||||||||||||||
Cost to sell | 8% | n/a | |||||||||||||||||||||||||||||
Instruments backed by commercial real estate assets | $ | 388 | Discounted cash flow | Yield | 4% to 13% | 6 | % | ||||||||||||||||||||||||
Loans held-for-sale | 388 | Loss severity | 24% to 88% | 53 | % | ||||||||||||||||||||||||||
n/a =ot applicable | |||||||||||||||||||||||||||||||
Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||||||||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 133 | $ | — | $ | — | $ | 133 | |||||||||||||||||||||
Equity securities | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 11 | — | — | 11 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||||||||||
Total trading account assets | — | 141 | — | — | 141 | ||||||||||||||||||||||||||
Net derivative assets | — | (727 | ) | 228 | — | (499 | ) | ||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Other taxable securities | — | — | — | 2 | 2 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 2 | 2 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | 9 | 9 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | (38 | ) | 18 | (20 | ) | ||||||||||||||||||||||||
Mortgage servicing rights | — | — | 71 | — | 71 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | — | 40 | 40 | ||||||||||||||||||||||||||
Other assets | 16 | — | — | (13 | ) | 3 | |||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 1 | — | — | 1 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | 8 | — | 8 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (31 | ) | — | (31 | ) | (62 | ) | |||||||||||||||||||||||
Total | $ | 16 | $ | (616 | ) | $ | 269 | $ | 23 | $ | (308 | ) | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 69 | $ | — | $ | — | $ | 69 | |||||||||||||||||||||
Equity securities | — | 15 | — | — | 15 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 7 | — | — | 7 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 111 | — | — | 111 | ||||||||||||||||||||||||||
Total trading account assets | — | 202 | — | — | 202 | ||||||||||||||||||||||||||
Net derivative assets | — | (1,214 | ) | 958 | — | (256 | ) | ||||||||||||||||||||||||
AFS debt securities – Tax-exempt securities | — | — | — | 7 | 7 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 69 | 69 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (360 | ) | — | (360 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 10 | 76 | 86 | ||||||||||||||||||||||||||
Other assets | 39 | — | (15 | ) | — | 24 | |||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (45 | ) | — | (46 | ) | (91 | ) | |||||||||||||||||||||||
Total | $ | 39 | $ | (1,053 | ) | $ | 593 | $ | 106 | $ | (315 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. | ||||||||||||||||||||||||||||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||
(Dollars in millions) | Equity | Trading | Mortgage | Other | Total | ||||||||||||||||||||||||||
Investment | Account | Banking | Income | ||||||||||||||||||||||||||||
Income | Profits | Income | (Loss) | ||||||||||||||||||||||||||||
(Loss) | (Losses) | (Loss) (1) | |||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 256 | $ | — | $ | — | $ | 256 | |||||||||||||||||||||
Equity securities | — | 54 | — | — | 54 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 56 | — | — | 56 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 165 | — | — | 165 | ||||||||||||||||||||||||||
Total trading account assets | — | 531 | — | — | 531 | ||||||||||||||||||||||||||
Net derivative assets | — | (581 | ) | 767 | — | 186 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-U.S. securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Other taxable securities | — | — | — | 5 | 5 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 3 | 3 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | 13 | 13 | ||||||||||||||||||||||||||
Loans and leases (2) | — | — | (38 | ) | 118 | 80 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 1,531 | — | 1,531 | ||||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 2 | 18 | 20 | ||||||||||||||||||||||||||
Other assets | 52 | — | 124 | (500 | ) | (324 | ) | ||||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 7 | — | — | 7 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | 30 | — | 30 | ||||||||||||||||||||||||||
Long-term debt (2) | — | 49 | — | (8 | ) | 41 | |||||||||||||||||||||||||
Total | $ | 52 | $ | 6 | $ | 2,416 | $ | (359 | ) | $ | 2,115 | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||
Trading account assets: | |||||||||||||||||||||||||||||||
Corporate securities, trading loans and other | $ | — | $ | 192 | $ | — | $ | — | $ | 192 | |||||||||||||||||||||
Equity securities | — | 24 | — | — | 24 | ||||||||||||||||||||||||||
Non-U.S. sovereign debt | — | 5 | — | — | 5 | ||||||||||||||||||||||||||
Mortgage trading loans and ABS | — | 194 | — | — | 194 | ||||||||||||||||||||||||||
Total trading account assets | — | 415 | — | — | 415 | ||||||||||||||||||||||||||
Net derivative assets | — | (2,358 | ) | 2,375 | — | 17 | |||||||||||||||||||||||||
AFS debt securities: | |||||||||||||||||||||||||||||||
Non-agency residential MBS | — | — | — | (69 | ) | (69 | ) | ||||||||||||||||||||||||
Corporate/Agency bonds | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||||||
Other taxable securities | — | — | — | 7 | 7 | ||||||||||||||||||||||||||
Tax-exempt securities | — | — | — | 61 | 61 | ||||||||||||||||||||||||||
Total AFS debt securities | — | — | — | (3 | ) | (3 | ) | ||||||||||||||||||||||||
Loans and leases (2) | — | — | — | 284 | 284 | ||||||||||||||||||||||||||
Mortgage servicing rights | — | — | (1,297 | ) | — | (1,297 | ) | ||||||||||||||||||||||||
Loans held-for-sale (2) | — | — | 105 | 160 | 265 | ||||||||||||||||||||||||||
Other assets | 28 | — | (57 | ) | (81 | ) | (110 | ) | |||||||||||||||||||||||
Trading account liabilities – Corporate securities and other | — | 4 | — | — | 4 | ||||||||||||||||||||||||||
Accrued expenses and other liabilities (2) | — | — | — | 4 | 4 | ||||||||||||||||||||||||||
Long-term debt (2) | — | (104 | ) | — | (135 | ) | (239 | ) | |||||||||||||||||||||||
Total | $ | 28 | $ | (2,043 | ) | $ | 1,126 | $ | 229 | $ | (660 | ) | |||||||||||||||||||
(1) | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | ||||||||||||||||||||||||||||||
(2) | Amounts represent instruments that are accounted for under the fair value option. |
Fair_Value_Option_Tables
Fair Value Option (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Fair Value Option [Abstract] | ||||||||||||||||||||||||
Fair Value Option Elections | The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets and liabilities accounted for under the fair value option at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||
Fair Value Option Elections | ||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
(Dollars in millions) | Fair Value | Contractual | Fair Value | Fair Value | Contractual | Fair Value | ||||||||||||||||||
Carrying | Principal | Carrying | Carrying | Principal | Carrying | |||||||||||||||||||
Amount | Outstanding | Amount | Amount | Outstanding | Amount | |||||||||||||||||||
Less Unpaid | Less Unpaid | |||||||||||||||||||||||
Principal | Principal | |||||||||||||||||||||||
Loans reported as trading account assets (1) | $ | 2,510 | $ | 4,013 | $ | (1,503 | ) | $ | 1,663 | $ | 2,879 | $ | (1,216 | ) | ||||||||||
Trading inventory – other | 3,106 | n/a | n/a | 2,170 | n/a | n/a | ||||||||||||||||||
Consumer and commercial loans | 10,196 | 10,598 | (402 | ) | 9,002 | 9,576 | (574 | ) | ||||||||||||||||
Loans held-for-sale | 8,217 | 8,937 | (720 | ) | 11,659 | 12,676 | (1,017 | ) | ||||||||||||||||
Securities financing agreements | 164,816 | 164,556 | 260 | 141,309 | 140,791 | 518 | ||||||||||||||||||
Other assets | 412 | 270 | 142 | 453 | 270 | 183 | ||||||||||||||||||
Long-term deposits | 1,916 | 1,794 | 122 | 2,262 | 2,046 | 216 | ||||||||||||||||||
Asset-backed secured financings | 762 | 1,105 | (343 | ) | 741 | 1,176 | (435 | ) | ||||||||||||||||
Unfunded loan commitments | 412 | n/a | n/a | 528 | n/a | n/a | ||||||||||||||||||
Short-term borrowings | 2,082 | 2,082 | — | 3,333 | 3,333 | — | ||||||||||||||||||
Accrued expenses and other liabilities | 20 | 20 | — | — | — | — | ||||||||||||||||||
Long-term debt (2, 3) | 47,401 | 47,811 | (410 | ) | 49,161 | 50,792 | (1,631 | ) | ||||||||||||||||
(1) | A significant portion of the loans reported as trading account assets are distressed loans which trade and were purchased at a deep discount to par, and the remainder are loans with a fair value near contractual principal outstanding. | |||||||||||||||||||||||
(2) | The majority of the difference between the fair value carrying amount and contractual principal outstanding at September 30, 2013 and December 31, 2012 relates to the impact of the Corporation's credit spreads as well as the fair value of the embedded derivative, where applicable. | |||||||||||||||||||||||
(3) | Includes structured liabilities with a fair value of $36.1 billion and contractual principal outstanding of $35.9 billion at September 30, 2013 compared to $39.3 billion and $39.9 billion at December 31, 2012. | |||||||||||||||||||||||
n/a =ot applicable | ||||||||||||||||||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | The table below provides information about where changes in the fair value of assets and liabilities accounted for under the fair value option are included in the Consolidated Statement of Income for the three and nine months ended September 30, 2013 and 2012. Of the changes in fair value for LHFS, gains of $52 million and $119 million were attributable to changes in borrower-specific credit risk for the three and nine months ended September 30, 2013 compared to gains of $117 million and $281 million for the same periods in 2012. Of the changes in fair value for loans and loan commitments, gains of $62 million and $218 million were attributable to changes in borrower-specific credit risk for the three and nine months ended September 30, 2013 compared to gains of $487 million and $975 million for the same periods in 2012. Changes to borrower-specific credit risk for loans reported as trading account assets were not material for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Dollars in millions) | Trading | Mortgage | Other | Total | ||||||||||||||||||||
Account | Banking | Income | ||||||||||||||||||||||
Profits | Income | (Loss) | ||||||||||||||||||||||
(Losses) | (Loss) | |||||||||||||||||||||||
Loans reported as trading account assets | $ | 46 | $ | — | $ | — | $ | 46 | ||||||||||||||||
Consumer and commercial loans | 1 | (38 | ) | 30 | (7 | ) | ||||||||||||||||||
Loans held-for-sale (1) | 5 | 174 | 79 | 258 | ||||||||||||||||||||
Securities financing agreements | (23 | ) | — | — | (23 | ) | ||||||||||||||||||
Other assets | — | — | (47 | ) | (47 | ) | ||||||||||||||||||
Long-term deposits | (6 | ) | — | 13 | 7 | |||||||||||||||||||
Asset-backed secured financings | — | (20 | ) | — | (20 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 76 | 76 | ||||||||||||||||||||
Short-term borrowings | (1 | ) | — | — | (1 | ) | ||||||||||||||||||
Accrued expenses and other liabilities | — | 9 | — | 9 | ||||||||||||||||||||
Long-term debt (2) | (191 | ) | — | (152 | ) | (343 | ) | |||||||||||||||||
Total | $ | (169 | ) | $ | 125 | $ | (1 | ) | $ | (45 | ) | |||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
Loans reported as trading account assets | $ | 64 | $ | — | $ | — | $ | 64 | ||||||||||||||||
Consumer and commercial loans | 3 | — | 185 | 188 | ||||||||||||||||||||
Loans held-for-sale (1) | 20 | 675 | 87 | 782 | ||||||||||||||||||||
Securities financing agreements | 9 | — | — | 9 | ||||||||||||||||||||
Long-term deposits | — | — | (20 | ) | (20 | ) | ||||||||||||||||||
Asset-backed secured financings | — | (54 | ) | — | (54 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 313 | 313 | ||||||||||||||||||||
Short-term borrowings | (1 | ) | — | — | (1 | ) | ||||||||||||||||||
Long-term debt (2) | (1,113 | ) | — | (1,289 | ) | (2,402 | ) | |||||||||||||||||
Total | $ | (1,018 | ) | $ | 621 | $ | (724 | ) | $ | (1,121 | ) | |||||||||||||
(1) | Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||||||||||||||||||
(2) | The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. | |||||||||||||||||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Dollars in millions) | Trading | Mortgage | Other | Total | ||||||||||||||||||||
Account | Banking | Income | ||||||||||||||||||||||
Profits | Income | (Loss) | ||||||||||||||||||||||
(Losses) | (Loss) | |||||||||||||||||||||||
Loans reported as trading account assets | $ | 85 | $ | — | $ | — | $ | 85 | ||||||||||||||||
Consumer and commercial loans | 2 | (38 | ) | 182 | 146 | |||||||||||||||||||
Loans held-for-sale (1) | (2 | ) | 685 | 38 | 721 | |||||||||||||||||||
Securities financing agreements | (39 | ) | — | — | (39 | ) | ||||||||||||||||||
Other assets | — | — | (86 | ) | (86 | ) | ||||||||||||||||||
Long-term deposits | 30 | — | 67 | 97 | ||||||||||||||||||||
Asset-backed secured financings | — | (71 | ) | — | (71 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 122 | 122 | ||||||||||||||||||||
Short-term borrowings | (29 | ) | — | — | (29 | ) | ||||||||||||||||||
Accrued expenses and other liabilities | — | 31 | — | 31 | ||||||||||||||||||||
Long-term debt (2) | (100 | ) | — | (232 | ) | (332 | ) | |||||||||||||||||
Total | $ | (53 | ) | $ | 607 | $ | 91 | $ | 645 | |||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
Loans reported as trading account assets | $ | 198 | $ | — | $ | — | $ | 198 | ||||||||||||||||
Consumer and commercial loans | 8 | — | 430 | 438 | ||||||||||||||||||||
Loans held-for-sale (1) | 69 | 2,136 | 167 | 2,372 | ||||||||||||||||||||
Securities financing agreements | (58 | ) | — | — | (58 | ) | ||||||||||||||||||
Other assets | — | — | 7 | 7 | ||||||||||||||||||||
Asset-backed secured financings | — | (109 | ) | — | (109 | ) | ||||||||||||||||||
Unfunded loan commitments | — | — | 605 | 605 | ||||||||||||||||||||
Short-term borrowings | 18 | — | — | 18 | ||||||||||||||||||||
Long-term debt (2) | (1,086 | ) | — | (4,665 | ) | (5,751 | ) | |||||||||||||||||
Total | $ | (851 | ) | $ | 2,027 | $ | (3,456 | ) | $ | (2,280 | ) | |||||||||||||
(1) | Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||||||||||||||||||
(2) | The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | ||||||||||||||||||||||||||||||||
Carrying and fair values of financial instruments | The carrying values and fair values by fair value hierarchy of certain financial instruments where only a portion of the ending balance was carried at fair value at September 30, 2013 and December 31, 2012 are presented in the table below. | |||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||
(Dollars in millions) | Carrying | Level 2 | Level 3 | Total | Carrying | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Value | Value | |||||||||||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||||||||||||
Loans | $ | 890,469 | $ | 105,404 | $ | 802,191 | $ | 907,595 | $ | 859,875 | $ | 105,119 | $ | 772,761 | $ | 877,880 | ||||||||||||||||
Loans held-for-sale | 15,001 | 13,447 | 1,554 | 15,001 | 19,413 | 15,087 | 4,321 | 19,408 | ||||||||||||||||||||||||
Financial liabilities | ||||||||||||||||||||||||||||||||
Deposits | 1,110,118 | 1,110,427 | — | 1,110,427 | 1,105,261 | 1,105,669 | — | 1,105,669 | ||||||||||||||||||||||||
Long-term debt | 255,331 | 261,903 | 2,063 | 263,966 | 275,585 | 281,173 | 2,301 | 283,474 | ||||||||||||||||||||||||
Mortgage_Servicing_Rights_Tabl
Mortgage Servicing Rights (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Transfers and Servicing [Abstract] | ||||||||||||||||
Activity for Residential First Mortgage MSRs | The table below presents activity for residential first-lien MSRs for the three and nine months ended September 30, 2013 and 2012. Commercial and residential reverse MSRs, which are carried at the lower of cost or market value and accounted for using the amortization method, totaled $10 million and $135 million at September 30, 2013 and December 31, 2012, and are not included in the tables in this Note. | |||||||||||||||
Rollforward of Mortgage Servicing Rights | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
30-Sep | 30-Sep | |||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Balance, beginning of period | $ | 5,827 | $ | 5,708 | $ | 5,716 | $ | 7,378 | ||||||||
Additions | 129 | 100 | 399 | 268 | ||||||||||||
Sales | (729 | ) | (15 | ) | (1,774 | ) | (113 | ) | ||||||||
Amortization of expected cash flows (1) | (240 | ) | (346 | ) | (814 | ) | (1,149 | ) | ||||||||
Impact of changes in interest rates and other market factors (2) | 24 | (280 | ) | 1,162 | (1,022 | ) | ||||||||||
Model and other cash flow assumption changes: (3) | ||||||||||||||||
Projected cash flows, primarily due to decreases in costs to service loans | 9 | 113 | 23 | 506 | ||||||||||||
Impact of changes in the Home Price Index | (197 | ) | (62 | ) | (399 | ) | (42 | ) | ||||||||
Impact of changes to the prepayment model | 206 | — | 609 | 342 | ||||||||||||
Other model changes (4) | 29 | (131 | ) | 136 | (1,081 | ) | ||||||||||
Balance, September 30 | $ | 5,058 | $ | 5,087 | $ | 5,058 | $ | 5,087 | ||||||||
Mortgage loans serviced for investors (in billions) | $ | 616 | $ | 1,142 | $ | 616 | $ | 1,142 | ||||||||
(1) | Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows. | |||||||||||||||
(2) | These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. | |||||||||||||||
(3) | These amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows as well as changes in certain cash flow assumptions such as cost to service and ancillary income per loan. | |||||||||||||||
(4) | These amounts include the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows. Also included is a decrease of $929 million for the nine months ended September 30, 2012 due to changes in OAS rate inputs. | |||||||||||||||
Assumption for Fair Value of MSRs | ||||||||||||||||
Significant Economic Assumptions | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
Fixed | Adjustable | Fixed | Adjustable | |||||||||||||
Weighted-average OAS | 4.08 | % | 7.33 | % | 4 | % | 6.63 | % | ||||||||
Weighted-average life, in years | 5.19 | 2.75 | 3.65 | 2.1 | ||||||||||||
Sensitivity of the Weighted-Average Lives and Fair Value of MSRs | ||||||||||||||||
Sensitivity Impacts | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Change in Weighted-average Lives | ||||||||||||||||
(Dollars in millions) | Fixed | Adjustable | Change in | |||||||||||||
Fair Value | ||||||||||||||||
Prepayment rates | ||||||||||||||||
Impact of 10% decrease | 0.24 | years | 0.19 | years | $ | 303 | ||||||||||
Impact of 20% decrease | 0.51 | 0.4 | 639 | |||||||||||||
Impact of 10% increase | (0.22 | ) | (0.16 | ) | (275 | ) | ||||||||||
Impact of 20% increase | (0.42 | ) | (0.31 | ) | (526 | ) | ||||||||||
OAS level | ||||||||||||||||
Impact of 100 bps decrease | $ | 261 | ||||||||||||||
Impact of 200 bps decrease | 545 | |||||||||||||||
Impact of 100 bps increase | (240 | ) | ||||||||||||||
Impact of 200 bps increase | (461 | ) |
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||
Business Segments | The following tables present total revenue, net of interest expense, on a FTE basis, and net income (loss) for the three and nine months ended September 30, 2013 and 2012, and total assets at September 30, 2013 and 2012 for each business segment, as well as All Other. | |||||||||||||||||||||||
Business Segments | ||||||||||||||||||||||||
At and for the Three Months Ended September 30 | ||||||||||||||||||||||||
Total Corporation (1) | Consumer & Business Banking | Consumer Real Estate Services | ||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net interest income (FTE basis) | $ | 10,479 | $ | 10,167 | $ | 5,056 | $ | 4,824 | $ | 733 | $ | 719 | ||||||||||||
Noninterest income | 11,264 | 10,490 | 2,468 | 2,437 | 844 | 2,364 | ||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 21,743 | 20,657 | 7,524 | 7,261 | 1,577 | 3,083 | ||||||||||||||||||
Provision for credit losses | 296 | 1,774 | 761 | 1,006 | (308 | ) | 263 | |||||||||||||||||
Amortization of intangibles | 270 | 315 | 126 | 156 | — | — | ||||||||||||||||||
Other noninterest expense | 16,119 | 17,229 | 3,854 | 3,955 | 3,419 | 4,180 | ||||||||||||||||||
Income (loss) before income taxes | 5,058 | 1,339 | 2,783 | 2,144 | (1,534 | ) | (1,360 | ) | ||||||||||||||||
Income tax expense (benefit) (FTE basis) | 2,561 | 999 | 1,004 | 793 | (534 | ) | (503 | ) | ||||||||||||||||
Net income (loss) | $ | 2,497 | $ | 340 | $ | 1,779 | $ | 1,351 | $ | (1,000 | ) | $ | (857 | ) | ||||||||||
Period-end total assets | $ | 2,126,653 | $ | 2,166,162 | $ | 588,627 | $ | 540,419 | $ | 115,424 | $ | 138,120 | ||||||||||||
Global Banking | Global Markets | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 2,201 | $ | 2,009 | $ | 975 | $ | 929 | ||||||||||||||||
Noninterest income | 1,808 | 1,777 | 2,401 | 2,349 | ||||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 4,009 | 3,786 | 3,376 | 3,278 | ||||||||||||||||||||
Provision for credit losses | 322 | 23 | 47 | 31 | ||||||||||||||||||||
Amortization of intangibles | 16 | 20 | 16 | 16 | ||||||||||||||||||||
Other noninterest expense | 1,912 | 1,916 | 2,868 | 2,559 | ||||||||||||||||||||
Income before income taxes | 1,759 | 1,827 | 445 | 672 | ||||||||||||||||||||
Income tax expense (FTE basis) | 625 | 676 | 1,223 | 948 | ||||||||||||||||||||
Net income (loss) | $ | 1,134 | $ | 1,151 | $ | (778 | ) | $ | (276 | ) | ||||||||||||||
Period-end total assets | $ | 373,110 | $ | 325,488 | $ | 601,139 | $ | 600,154 | ||||||||||||||||
Global Wealth & | All Other | |||||||||||||||||||||||
Investment Management | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 1,478 | $ | 1,413 | $ | 36 | $ | 273 | ||||||||||||||||
Noninterest income (loss) | 2,912 | 2,670 | 831 | (1,107 | ) | |||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 4,390 | 4,083 | 867 | (834 | ) | |||||||||||||||||||
Provision for credit losses | 23 | 61 | (549 | ) | 390 | |||||||||||||||||||
Amortization of intangibles | 95 | 101 | 17 | 22 | ||||||||||||||||||||
Other noninterest expense | 3,153 | 3,014 | 913 | 1,605 | ||||||||||||||||||||
Income (loss) before income taxes | 1,119 | 907 | 486 | (2,851 | ) | |||||||||||||||||||
Income tax expense (benefit) (FTE basis) | 400 | 336 | (157 | ) | (1,251 | ) | ||||||||||||||||||
Net income (loss) | $ | 719 | $ | 571 | $ | 643 | $ | (1,600 | ) | |||||||||||||||
Period-end total assets | $ | 270,484 | $ | 268,408 | $ | 177,869 | $ | 293,573 | ||||||||||||||||
(1) | There were no material intersegment revenues. | |||||||||||||||||||||||
Business Segments | ||||||||||||||||||||||||
At and for the Nine Months Ended September 30 | ||||||||||||||||||||||||
Total Corporation (1) | Consumer & Business Banking | Consumer Real Estate Services | ||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net interest income (FTE basis) | $ | 32,125 | $ | 31,002 | $ | 15,103 | $ | 14,984 | $ | 2,175 | $ | 2,200 | ||||||||||||
Noninterest income | 35,975 | 34,342 | 7,267 | 7,405 | 3,829 | 6,076 | ||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 68,100 | 65,344 | 22,370 | 22,389 | 6,004 | 8,276 | ||||||||||||||||||
Provision for credit losses | 3,220 | 5,965 | 2,680 | 3,069 | 318 | 957 | ||||||||||||||||||
Amortization of intangibles | 820 | 955 | 380 | 472 | — | — | ||||||||||||||||||
Other noninterest expense | 51,087 | 52,778 | 11,935 | 12,349 | 12,219 | 11,583 | ||||||||||||||||||
Income (loss) before income taxes | 12,973 | 5,646 | 7,375 | 6,499 | (6,533 | ) | (4,264 | ) | ||||||||||||||||
Income tax expense (benefit) (FTE basis) | 4,981 | 2,190 | 2,754 | 2,398 | (2,439 | ) | (1,529 | ) | ||||||||||||||||
Net income (loss) | $ | 7,992 | $ | 3,456 | $ | 4,621 | $ | 4,101 | $ | (4,094 | ) | $ | (2,735 | ) | ||||||||||
Period-end total assets | $ | 2,126,653 | $ | 2,166,162 | $ | 588,627 | $ | 540,419 | $ | 115,424 | $ | 138,120 | ||||||||||||
Global Banking | Global Markets | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 6,613 | $ | 6,036 | $ | 3,097 | $ | 2,557 | ||||||||||||||||
Noninterest income | 5,564 | 5,686 | 9,337 | 8,707 | ||||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 12,177 | 11,722 | 12,434 | 11,264 | ||||||||||||||||||||
Provision for credit losses | 634 | (404 | ) | 36 | 17 | |||||||||||||||||||
Amortization of intangibles | 48 | 61 | 49 | 48 | ||||||||||||||||||||
Other noninterest expense | 5,578 | 5,804 | 8,680 | 8,620 | ||||||||||||||||||||
Income before income taxes | 5,917 | 6,261 | 3,669 | 2,579 | ||||||||||||||||||||
Income tax expense (FTE basis) | 2,210 | 2,309 | 2,321 | 1,531 | ||||||||||||||||||||
Net income | $ | 3,707 | $ | 3,952 | $ | 1,348 | $ | 1,048 | ||||||||||||||||
Period-end total assets | $ | 373,110 | $ | 325,488 | $ | 601,139 | $ | 600,154 | ||||||||||||||||
Global Wealth & | All Other | |||||||||||||||||||||||
Investment Management | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Net interest income (FTE basis) | $ | 4,579 | $ | 4,337 | $ | 558 | $ | 888 | ||||||||||||||||
Noninterest income (loss) | 8,731 | 7,987 | 1,247 | (1,519 | ) | |||||||||||||||||||
Total revenue, net of interest expense (FTE basis) | 13,310 | 12,324 | 1,805 | (631 | ) | |||||||||||||||||||
Provision for credit losses | 30 | 154 | (478 | ) | 2,172 | |||||||||||||||||||
Amortization of intangibles | 293 | 310 | 50 | 64 | ||||||||||||||||||||
Other noninterest expense | 9,480 | 9,214 | 3,195 | 5,208 | ||||||||||||||||||||
Income (loss) before income taxes | 3,507 | 2,646 | (962 | ) | (8,075 | ) | ||||||||||||||||||
Income tax expense (benefit) (FTE basis) | 1,310 | 977 | (1,175 | ) | (3,496 | ) | ||||||||||||||||||
Net income (loss) | $ | 2,197 | $ | 1,669 | $ | 213 | $ | (4,579 | ) | |||||||||||||||
Period-end total assets | $ | 270,484 | $ | 268,408 | $ | 177,869 | $ | 293,573 | ||||||||||||||||
-1 | There were no material intersegment revenues. | |||||||||||||||||||||||
Reconciliation of Consolidated Total Assets of Business Segments | The table below presents a reconciliation of the five business segments' total revenue, net of interest expense, on a FTE basis, and net income to the Consolidated Statement of Income, and total assets to the Consolidated Balance Sheet. The adjustments presented in the table below include consolidated income, expense and asset amounts not specifically allocated to individual business segments. | |||||||||||||||||||||||
Business Segment Reconciliations | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
(Dollars in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Segments' total revenue, net of interest expense (FTE basis) | $ | 20,876 | $ | 21,491 | $ | 66,295 | $ | 65,975 | ||||||||||||||||
Adjustments: | ||||||||||||||||||||||||
ALM activities (1) | (180 | ) | (930 | ) | (590 | ) | (1,623 | ) | ||||||||||||||||
Equity investment income | 1,121 | 172 | 2,217 | 566 | ||||||||||||||||||||
Liquidating businesses and other | (74 | ) | (76 | ) | 178 | 426 | ||||||||||||||||||
FTE basis adjustment | (213 | ) | (229 | ) | (646 | ) | (670 | ) | ||||||||||||||||
Consolidated revenue, net of interest expense | $ | 21,530 | $ | 20,428 | $ | 67,454 | $ | 64,674 | ||||||||||||||||
Segments' net income | $ | 1,854 | $ | 1,940 | $ | 7,779 | $ | 8,035 | ||||||||||||||||
Adjustments, net-of-taxes: | ||||||||||||||||||||||||
ALM activities | (71 | ) | (1,156 | ) | (748 | ) | (3,209 | ) | ||||||||||||||||
Equity investment income | 706 | 108 | 1,397 | 357 | ||||||||||||||||||||
Liquidating businesses and other | 8 | (552 | ) | (436 | ) | (1,727 | ) | |||||||||||||||||
Consolidated net income | $ | 2,497 | $ | 340 | $ | 7,992 | $ | 3,456 | ||||||||||||||||
September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Segments' total assets | $ | 1,948,784 | $ | 1,872,589 | ||||||||||||||||||||
Adjustments: | ||||||||||||||||||||||||
ALM activities, including securities portfolio | 662,206 | 677,585 | ||||||||||||||||||||||
Equity investments | 2,625 | 5,626 | ||||||||||||||||||||||
Liquidating businesses and other | 70,991 | 124,053 | ||||||||||||||||||||||
Elimination of segment asset allocations to match liabilities | (557,953 | ) | (513,691 | ) | ||||||||||||||||||||
Consolidated total assets | $ | 2,126,653 | $ | 2,166,162 | ||||||||||||||||||||
(1) | Includes negative fair value adjustments on structured liabilities related to the improvement in the Corporation's credit spreads of $152 million and $232 million for the three and nine months ended September 30, 2013 compared to negative adjustments of $1.3 billion and $4.7 billion for the same periods in 2012. |
Trading_Account_Assets_and_Lia2
Trading Account Assets and Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | $201,206 | $227,775 | ||
Trading account liabilities | 82,713 | 73,587 | ||
U.S. government and agency securities [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 59,250 | [1] | 86,974 | [1] |
Trading account liabilities | 24,395 | 23,430 | ||
Government sponsored enterprise obligations [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 13,400 | 30,600 | ||
Corporate securities, trading loans and other [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 34,267 | 37,900 | ||
Equity securities [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 48,300 | 43,315 | ||
Trading account liabilities | 26,860 | 22,492 | ||
Non-U.S. sovereign debt [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 44,125 | 42,746 | ||
Trading account liabilities | 23,621 | 20,244 | ||
Mortgage trading loans and ABS [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account assets | 15,264 | 16,840 | ||
Corporate securities and other [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account liabilities | $7,837 | $7,421 | ||
[1] | Includes $13.4 billion and $30.6 billion of government-sponsored enterprise obligations at September 30, 2013 and December 31, 2012. |
Derivatives_Derivative_Balance
Derivatives - Derivative Balances (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | $1,495,423,000,000 | $1,600,315,000,000 | ||
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 979,700,000,000 | 1,367,800,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 989,800,000,000 | 1,383,500,000,000 | ||
Derivative Asset, Fair Value, Gross Liability | -889,300,000,000 | -1,271,900,000,000 | ||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | -47,300,000,000 | -58,100,000,000 | ||
Derivative Asset, Not Subject to Master Netting Agreement | 37,300,000,000 | 30,400,000,000 | ||
Other Gross Derivative Assets | 15,900,000,000 | 23,100,000,000 | ||
Derivative assets | 53,161,000,000 | 53,497,000,000 | ||
Derivative, Collateral, Obligation to Return Securities | -11,400,000,000 | [1] | -11,500,000,000 | [1] |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 41,800,000,000 | 42,000,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 971,000,000,000 | 1,357,500,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 974,600,000,000 | 1,364,800,000,000 | ||
Derivative Liability, Fair Value, Gross Asset | -889,300,000,000 | -1,271,900,000,000 | ||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 40,700,000,000 | 46,900,000,000 | ||
Derivative Liability, Not Subject to Master Netting Arrangement | 25,700,000,000 | 24,800,000,000 | ||
Other Gross Derivative Liabilities | 18,900,000,000 | 21,200,000,000 | ||
Derivative Liabilities | 44,568,000,000 | 46,016,000,000 | ||
Derivative, Collateral, Right to Reclaim Securities | -7,500,000,000 | [1] | -14,600,000,000 | [1] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 37,100,000,000 | 31,400,000,000 | ||
Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 10,100,000,000 | 15,700,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 3,600,000,000 | 7,300,000,000 | ||
Interest Rate Contracts [Member] | Swap [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 33,859,600,000,000 | [2] | 34,667,400,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 725,200,000,000 | 1,075,400,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 733,900,000,000 | 1,089,200,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 720,900,000,000 | 1,062,600,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 721,600,000,000 | 1,067,300,000,000 | ||
Interest Rate Contracts [Member] | Swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 8,700,000,000 | 13,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 700,000,000 | 4,700,000,000 | ||
Interest Rate Contracts [Member] | Futures and Forwards [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 9,086,900,000,000 | [2] | 11,950,500,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 3,400,000,000 | 2,800,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 3,400,000,000 | 2,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 4,000,000,000 | 2,700,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 4,000,000,000 | 2,700,000,000 | ||
Interest Rate Contracts [Member] | Futures and Forwards [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | |||
Interest Rate Contracts [Member] | Written Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 2,162,600,000,000 | [2] | 2,343,500,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | |||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 70,800,000,000 | 106,000,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 70,800,000,000 | 106,000,000,000 | ||
Interest Rate Contracts [Member] | Purchased Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 2,111,100,000,000 | [2] | 2,162,600,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 72,100,000,000 | 105,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 72,100,000,000 | 105,500,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | ||
Foreign Exchange Contract [Member] | Swap [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 2,312,400,000,000 | [2] | 2,489,000,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 45,300,000,000 | 47,400,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 46,200,000,000 | 48,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 46,400,000,000 | 53,200,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 47,900,000,000 | 55,000,000,000 | ||
Foreign Exchange Contract [Member] | Swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 900,000,000 | 1,400,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 1,500,000,000 | 1,800,000,000 | ||
Foreign Exchange Contract [Member] | Spot Futures and Forwards [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 2,901,300,000,000 | [2] | 3,023,000,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 24,800,000,000 | 31,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 25,300,000,000 | 31,900,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 26,600,000,000 | 30,500,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 28,000,000,000 | 31,300,000,000 | ||
Foreign Exchange Contract [Member] | Spot Futures and Forwards [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 500,000,000 | 400,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 1,400,000,000 | 800,000,000 | ||
Foreign Exchange Contract [Member] | Written Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 485,500,000,000 | [2] | 363,300,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | |||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 7,900,000,000 | 7,300,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 7,900,000,000 | 7,300,000,000 | ||
Foreign Exchange Contract [Member] | Purchased Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 448,700,000,000 | [2] | 321,800,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 7,600,000,000 | 6,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 7,600,000,000 | 6,500,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | ||
Equity Contracts [Member] | Swap [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 152,300,000,000 | [2] | 127,100,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 3,400,000,000 | 1,600,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 3,400,000,000 | 1,600,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 3,000,000,000 | 2,000,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 3,000,000,000 | 2,000,000,000 | ||
Equity Contracts [Member] | Futures and Forwards [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 76,300,000,000 | [2] | 58,400,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 1,300,000,000 | 1,000,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 1,300,000,000 | 1,000,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 1,400,000,000 | 1,000,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 1,400,000,000 | 1,000,000,000 | ||
Equity Contracts [Member] | Written Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 363,600,000,000 | [2] | 295,300,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | |||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 28,100,000,000 | 20,200,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 28,100,000,000 | 20,200,000,000 | ||
Equity Contracts [Member] | Purchased Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 320,600,000,000 | [2] | 271,000,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 27,200,000,000 | 20,400,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 27,200,000,000 | 20,400,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 | ||
Commodity Contracts [Member] | Swap [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 73,100,000,000 | [2] | 60,500,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 3,800,000,000 | 2,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 3,800,000,000 | 2,600,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 4,500,000,000 | 4,000,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 4,500,000,000 | 4,000,000,000 | ||
Commodity Contracts [Member] | Swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 100,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | |||
Commodity Contracts [Member] | Futures and Forwards [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 592,300,000,000 | [2] | 498,900,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 4,600,000,000 | 4,800,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 4,600,000,000 | 4,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 2,700,000,000 | 2,700,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 2,700,000,000 | 2,700,000,000 | ||
Commodity Contracts [Member] | Written Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 209,700,000,000 | [2] | 166,400,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | |||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 6,800,000,000 | 7,400,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 6,800,000,000 | 7,400,000,000 | ||
Commodity Contracts [Member] | Purchased Options [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 223,400,000,000 | [2] | 168,200,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 7,100,000,000 | 7,100,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 7,100,000,000 | 7,100,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 0 | |||
Credit Derivatives [Member] | Credit Default Swap [Member] | Credit Default Swap, Buying Protection [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 1,441,700,000,000 | [2] | 1,559,500,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 23,400,000,000 | 35,600,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 23,400,000,000 | 35,600,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 23,600,000,000 | 22,100,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 23,600,000,000 | 22,100,000,000 | ||
Credit Derivatives [Member] | Credit Default Swap [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 1,417,896,000,000 | [2] | 1,531,504,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 24,700,000,000 | 23,000,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 24,700,000,000 | 23,000,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 20,900,000,000 | 32,600,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 20,905,000,000 | 32,622,000,000 | ||
Credit Derivatives [Member] | Return Swaps Other [Member] | Credit Default Swap, Buying Protection [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 47,400,000,000 | [2] | 43,500,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 2,200,000,000 | 2,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 2,200,000,000 | 2,500,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 3,200,000,000 | 2,900,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 3,200,000,000 | 2,900,000,000 | ||
Credit Derivatives [Member] | Return Swaps Other [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Notional Amount of Derivatives, [Abstract] | ||||
Contract/Notional | 77,527,000,000 | [2] | 68,811,000,000 | [2] |
Derivative Assets [Abstract] | ||||
Gross Derivative Assets Trading Activities And As Economic Hedges | 3,600,000,000 | 200,000,000 | ||
Derivative Asset, Fair Value, Gross Asset | 3,600,000,000 | 200,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Gross Derivative Liabilities Trading Activities And As Economic Hedges | 200,000,000 | 300,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 236,000,000 | 276,000,000 | ||
Over the Counter [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Liability | -541,800,000,000 | -764,400,000,000 | ||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 591,100,000,000 | 808,900,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Asset | -556,600,000,000 | -780,800,000,000 | ||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 564,000,000,000 | 787,200,000,000 | ||
Over the Counter [Member] | Interest Rate Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 439,800,000,000 | 646,700,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 416,300,000,000 | 623,400,000,000 | ||
Over the Counter [Member] | Foreign Exchange Contract [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 76,100,000,000 | 84,100,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 79,600,000,000 | 88,700,000,000 | ||
Over the Counter [Member] | Equity Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 20,000,000,000 | 15,200,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 17,500,000,000 | 13,300,000,000 | ||
Over the Counter [Member] | Commodity Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 7,000,000,000 | 6,900,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 7,700,000,000 | 7,900,000,000 | ||
Over the Counter [Member] | Credit Derivatives [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 48,200,000,000 | 56,000,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 42,900,000,000 | 53,900,000,000 | ||
Exchange Traded [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Liability | -7,900,000,000 | -5,900,000,000 | ||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 10,400,000,000 | 8,200,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Asset | -7,900,000,000 | -5,900,000,000 | ||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 11,400,000,000 | 7,900,000,000 | ||
Exchange Traded [Member] | Interest Rate Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset | 200,000,000 | 0 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | 200,000,000 | 0 | ||
Exchange Traded [Member] | Equity Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 7,200,000,000 | 4,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 8,500,000,000 | 4,700,000,000 | ||
Exchange Traded [Member] | Commodity Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 3,000,000,000 | 3,400,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 2,700,000,000 | 3,200,000,000 | ||
Exchange Cleared [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Liability | -380,300,000,000 | -548,500,000,000 | ||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 372,400,000,000 | 543,300,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Asset | -372,100,000,000 | -543,300,000,000 | ||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 380,300,000,000 | 548,500,000,000 | ||
Exchange Cleared [Member] | Interest Rate Contracts [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 368,000,000,000 | 539,500,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | 375,800,000,000 | 545,100,000,000 | ||
Exchange Cleared [Member] | Credit Derivatives [Member] | ||||
Derivative Assets [Abstract] | ||||
Derivative Asset, Fair Value, Gross Asset, Excluding Other | 4,400,000,000 | 3,800,000,000 | ||
Derivative Liabilities [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability, Excluding Other | $4,500,000,000 | $3,400,000,000 | ||
[1] | These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged. | |||
[2] | Represents the total contract/notional amount of derivative assets and liabilities outstanding. |
Derivatives_Derivatives_Design
Derivatives - Derivatives Designated as Accounting Hedges - Fair Value Hedges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||||||
Derivative | $679 | ($282) | ($3,988) | ($1,540) | ||||
Hedged Item | -977 | -23 | 3,222 | 663 | ||||
Hedge Ineffectiveness | -298 | -305 | -766 | -877 | ||||
Interest rate risk on long-terrn debt [Member] | Interest rate risk on long-term debt [Member] | ||||||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||||||
Derivative | -313 | [1] | 109 | [1] | -3,696 | [1] | 518 | [1] |
Hedged Item | 81 | [1] | -385 | [1] | 3,114 | [1] | -1,265 | [1] |
Hedge Ineffectiveness | -232 | [1] | -276 | [1] | -582 | [1] | -747 | [1] |
Interest rate and foreign currency risk on long-term debt [Member] | Interest rate risk on long-term debt [Member] | ||||||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||||||
Derivative | 991 | [1] | -716 | [1] | -1,129 | [1] | -1,455 | [1] |
Hedged Item | -1,059 | [1] | 647 | [1] | 945 | [1] | 1,259 | [1] |
Hedge Ineffectiveness | -68 | [1] | -69 | [1] | -184 | [1] | -196 | [1] |
Interest rate risk on AFS securities [Member] | Interest rate risk on AFS securities [Member] | ||||||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||||||
Derivative | 0 | [2] | 349 | [2] | 836 | [2] | -593 | [2] |
Hedged Item | 0 | [2] | -309 | [2] | -837 | [2] | 659 | [2] |
Hedge Ineffectiveness | 0 | [2] | 40 | [2] | -1 | [2] | 66 | [2] |
Commodity price risk on commodity inventory [Member] | Commodity price risk on commodity inventory [Member] | ||||||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||||||
Derivative | 1 | [3] | -24 | [3] | 1 | [3] | -10 | [3] |
Hedged Item | 1 | [3] | 24 | [3] | 0 | [3] | 10 | [3] |
Hedge Ineffectiveness | $2 | [3] | $1 | [3] | ||||
[1] | Amounts are recorded in interest expense on long-term debt and in other income (loss). | |||||||
[2] | Amounts are recorded in interest income on debt securities. | |||||||
[3] | Amounts relating to commodity inventory are recorded in trading account profits. |
Derivatives_Derivatives_Design1
Derivatives - Derivatives Designated as Accounting Hedges - Cash Flow Hedges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
In Text Details [Abstract] | ||||||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $889 | |||||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months, Net of Tax | 560 | |||||||
Loss, Net Investment Hedge Related to Foreign Exchange Risk Excluded From Accumulated Other Comprehensive Income | 7 | |||||||
Cash Flow Hedging [Member] | ||||||||
Cash Flow Hedges And Net Investment Hedges [Abstract] | ||||||||
Gain (losses) Recognized in Accumulated OCI on Derivatives | 122 | 86 | -3 | 123 | ||||
Gains (losses) in Income Reclassified from Accumulated OCI | -163 | -285 | -584 | -726 | ||||
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | 1 | [1] | -1 | [1] | ||||
Interest Rate Risk on Variable Rate Portfolios [Member] | Cash Flow Hedging [Member] | ||||||||
Cash Flow Hedges And Net Investment Hedges [Abstract] | ||||||||
Gain (losses) Recognized in Accumulated OCI on Derivatives | -15 | 21 | -305 | -32 | ||||
Gains (losses) in Income Reclassified from Accumulated OCI | -271 | -260 | -801 | -636 | ||||
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | 1 | [1] | -1 | [1] | ||||
Commodity price risk on commodity inventory [Member] | Cash Flow Hedging [Member] | ||||||||
Cash Flow Hedges And Net Investment Hedges [Abstract] | ||||||||
Gains (losses) in Income Reclassified from Accumulated OCI | 3 | |||||||
Price risk on restricted stock awards [Member] | Cash Flow Hedging [Member] | ||||||||
Cash Flow Hedges And Net Investment Hedges [Abstract] | ||||||||
Gain (losses) Recognized in Accumulated OCI on Derivatives | 137 | 65 | 302 | 155 | ||||
Gains (losses) in Income Reclassified from Accumulated OCI | 108 | -28 | 217 | -90 | ||||
Foreign Exchange Risk [Member] | Net Investment Hedging [Member] | ||||||||
Cash Flow Hedges And Net Investment Hedges [Abstract] | ||||||||
Gain (losses) Recognized in Accumulated OCI on Derivatives | -1,472 | -1,149 | 1,008 | -1,021 | ||||
Gains (losses) in Income Reclassified from Accumulated OCI | 2 | 11 | -89 | -26 | ||||
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | ($31) | [1] | ($13) | [1] | ($103) | [1] | ($180) | [1] |
[1] | Amounts related to derivatives designated as cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing. |
Derivatives_Economic_Hedges_De
Derivatives - Economic Hedges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Derivative [Line Items] | ||||||||
Gain (Loss) On Derivative Instrument, Interest Rate Lock Commitments On Loans Held For Sale | $228 | $1,000 | $767 | $2,400 | ||||
Summary of Derivative Instruments by Risk Exposure [Abstract] | ||||||||
Price risk on mortgage banking production income | -203 | [1],[2] | 850 | [1],[2] | 687 | [1],[2] | 2,240 | [1],[2] |
Market-related Risk on Mortgage Banking Servicing Income | 44 | [1] | 822 | [1] | -937 | [1] | 1,970 | [1] |
Credit risk on loans | -16 | [3] | -32 | [3] | -23 | [3] | -70 | [3] |
Interest rate and foreign currency risk on long-term debt and other foreign exchange transactions | 1,195 | [4] | -309 | [4] | 1,703 | [4] | -987 | [4] |
Price Risk on Restricted Stock Awards | 192 | [5] | 142 | [5] | 432 | [5] | 392 | [5] |
Other | -4 | 16 | -15 | 105 | ||||
Gain Loss On Economic Hedges | $1,208 | $1,489 | $1,847 | $3,650 | ||||
[1] | Net gains on these derivatives are recorded in mortgage banking income. | |||||||
[2] | Includes net gains on interest rate lock commitments related to the origination of mortgage loans that are held-for-sale, which are considered derivative instruments, of $228 million and $767 million for the three and nine months ended September 30, 2013 compared to $1.0 billion and $2.4 billion for the same periods in 2012. | |||||||
[3] | Net gains (losses) on these derivatives are recorded in other income (loss). | |||||||
[4] | The balance is primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Results from these items are recorded in other income (loss). The offsetting mark-to-market, while not included in the table above, is also recorded in other income (loss). | |||||||
[5] | Gains (losses) on these derivatives are recorded in personnel expense. |
Derivatives_Sales_and_Trading_
Derivatives - Sales and Trading Revenue (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Derivatives, Fair Value [Line Items] | ||||||||
Brokerage Commissions Revenue | $480 | $428 | $1,600 | $1,400 | ||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 2,668 | 2,611 | 10,164 | 9,437 | ||||
Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 1,201 | 1,237 | 5,939 | 4,981 | ||||
Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 853 | 790 | 2,714 | 2,131 | ||||
Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 614 | [1] | 584 | [1] | 1,511 | [1] | 2,325 | [1] |
Interest rate risk [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 456 | 331 | 2,073 | 1,253 | ||||
Interest rate risk [Member] | Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 188 | 68 | 1,207 | 522 | ||||
Interest rate risk [Member] | Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 237 | 267 | 800 | 752 | ||||
Interest rate risk [Member] | Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 31 | [1] | -4 | [1] | 66 | [1] | -21 | [1] |
Foreign exchange risk [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 211 | 207 | 872 | 676 | ||||
Foreign exchange risk [Member] | Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 215 | 193 | 890 | 659 | ||||
Foreign exchange risk [Member] | Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 2 | 1 | 3 | 5 | ||||
Foreign exchange risk [Member] | Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | -6 | [1] | 13 | [1] | -21 | [1] | 12 | [1] |
Equity risk [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 945 | 667 | 3,303 | 2,340 | ||||
Equity risk [Member] | Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 392 | 195 | 1,663 | 988 | ||||
Equity risk [Member] | Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 48 | 15 | 42 | -90 | ||||
Equity risk [Member] | Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 505 | [1] | 457 | [1] | 1,598 | [1] | 1,442 | [1] |
Credit risk [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 1,050 | 1,345 | 3,648 | 4,881 | ||||
Credit risk [Member] | Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 349 | 663 | 1,805 | 2,387 | ||||
Credit risk [Member] | Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 622 | 552 | 2,010 | 1,632 | ||||
Credit risk [Member] | Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 79 | [1] | 130 | [1] | -167 | [1] | 862 | [1] |
Other risk [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 6 | 61 | 268 | 287 | ||||
Other risk [Member] | Trading Account Profits [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | 57 | 118 | 374 | 425 | ||||
Other risk [Member] | Net Interest Income [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | -56 | -45 | -141 | -168 | ||||
Other risk [Member] | Other Income (Loss) [Member] | ||||||||
Sales and Trading Revenue [Abstract] | ||||||||
Trading Activity, Gains and Losses, Net | $5 | [1] | ($12) | [1] | $35 | [1] | $30 | [1] |
[1] | Represents amounts in investment and brokerage services and other income (loss) that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $480 million and $1.6 billion for the three and nine months ended September 30, 2013 and $428 million and $1.4 billion for the same periods in 2012. |
Derivatives_Credit_Derivatives
Derivatives - Credit Derivatives (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Carrying Value [Abstract] | ||||
Derivative Liability, Fair Value, Gross Liability | $974,600,000,000 | $1,364,800,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 338,216,000,000 | 389,140,000,000 | ||
One to Three Years | 463,589,000,000 | 459,211,000,000 | ||
Three to Five Years | 599,238,000,000 | 617,917,000,000 | ||
Over Five Years | 94,380,000,000 | 134,047,000,000 | ||
Notional Amount of Derivatives | 1,495,423,000,000 | 1,600,315,000,000 | ||
In Text Details [Abstract] | ||||
Carrying value of written credit derivatives | 14,200,000,000 | 20,700,000,000 | ||
Notional Amount of Written Credit Derivatives With Identical Referenced Underlying Held by Entity | 1,100,000,000,000 | 1,100,000,000,000 | ||
Credit Derivative [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 814,000,000 | 1,071,000,000 | ||
One to Three Years | 3,399,000,000 | 5,264,000,000 | ||
Three to Five Years | 7,067,000,000 | 12,664,000,000 | ||
Over Five Years | 9,861,000,000 | 13,899,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 21,141,000,000 | 32,898,000,000 | ||
Credit Default Swap [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 690,000,000 | 975,000,000 | ||
One to Three Years | 3,334,000,000 | 5,160,000,000 | ||
Three to Five Years | 7,032,000,000 | 12,625,000,000 | ||
Over Five Years | 9,849,000,000 | 13,862,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 20,905,000,000 | 32,622,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 274,243,000,000 | 340,038,000,000 | ||
One to Three Years | 457,324,000,000 | 448,168,000,000 | ||
Three to Five Years | 593,494,000,000 | 610,286,000,000 | ||
Over Five Years | 92,835,000,000 | 133,012,000,000 | ||
Notional Amount of Derivatives | 1,417,896,000,000 | [1] | 1,531,504,000,000 | [1] |
Return Swaps Other [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 124,000,000 | 96,000,000 | ||
One to Three Years | 65,000,000 | 104,000,000 | ||
Three to Five Years | 35,000,000 | 39,000,000 | ||
Over Five Years | 12,000,000 | 37,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 236,000,000 | 276,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 63,973,000,000 | 49,102,000,000 | ||
One to Three Years | 6,265,000,000 | 11,043,000,000 | ||
Three to Five Years | 5,744,000,000 | 7,631,000,000 | ||
Over Five Years | 1,545,000,000 | 1,035,000,000 | ||
Notional Amount of Derivatives | 77,527,000,000 | [1] | 68,811,000,000 | [1] |
Credit-related notes [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 160,000,000 | [2] | 120,000,000 | [2] |
One to Three Years | 424,000,000 | [2] | 173,000,000 | [2] |
Three to Five Years | 993,000,000 | [2] | 755,000,000 | [2] |
Over Five Years | 5,685,000,000 | [2] | 5,274,000,000 | [2] |
Derivative Liability, Fair Value, Gross Liability | 7,262,000,000 | [2] | 6,322,000,000 | [2] |
External Credit Rating, Investment Grade [Member] | Credit Default Swap [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 11,000,000 | 52,000,000 | ||
One to Three Years | 629,000,000 | 757,000,000 | ||
Three to Five Years | 2,874,000,000 | 5,595,000,000 | ||
Over Five Years | 2,039,000,000 | 2,903,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 5,553,000,000 | 9,307,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 211,697,000,000 | 260,177,000,000 | ||
One to Three Years | 361,303,000,000 | 349,125,000,000 | ||
Three to Five Years | 482,919,000,000 | 500,038,000,000 | ||
Over Five Years | 56,592,000,000 | 90,453,000,000 | ||
Notional Amount of Derivatives | 1,112,511,000,000 | 1,199,793,000,000 | ||
External Credit Rating, Investment Grade [Member] | Return Swaps Other [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 26,000,000 | 39,000,000 | ||
Three to Five Years | 0 | |||
Over Five Years | 0 | |||
Derivative Liability, Fair Value, Gross Liability | 26,000,000 | 39,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 30,937,000,000 | 43,536,000,000 | ||
One to Three Years | 15,000,000 | |||
Three to Five Years | 0 | |||
Notional Amount of Derivatives | 30,937,000,000 | 43,551,000,000 | ||
External Credit Rating, Investment Grade [Member] | Credit-related notes [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 1,000,000 | [2] | 4,000,000 | [2] |
One to Three Years | 270,000,000 | [2] | 12,000,000 | [2] |
Three to Five Years | 291,000,000 | [2] | 441,000,000 | [2] |
Over Five Years | 4,705,000,000 | [2] | 3,849,000,000 | [2] |
Derivative Liability, Fair Value, Gross Liability | 5,267,000,000 | [2] | 4,306,000,000 | [2] |
External Credit Rating, Non Investment Grade [Member] | Credit Default Swap [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 679,000,000 | 923,000,000 | ||
One to Three Years | 2,705,000,000 | 4,403,000,000 | ||
Three to Five Years | 4,158,000,000 | 7,030,000,000 | ||
Over Five Years | 7,810,000,000 | 10,959,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 15,352,000,000 | 23,315,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 62,546,000,000 | 79,861,000,000 | ||
One to Three Years | 96,021,000,000 | 99,043,000,000 | ||
Three to Five Years | 110,575,000,000 | 110,248,000,000 | ||
Over Five Years | 36,243,000,000 | 42,559,000,000 | ||
Notional Amount of Derivatives | 305,385,000,000 | 331,711,000,000 | ||
External Credit Rating, Non Investment Grade [Member] | Return Swaps Other [Member] | Credit Risk Contract [Member] | Credit Default Swap, Selling Protection [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 98,000,000 | 57,000,000 | ||
One to Three Years | 65,000,000 | 104,000,000 | ||
Three to Five Years | 35,000,000 | 39,000,000 | ||
Over Five Years | 12,000,000 | 37,000,000 | ||
Derivative Liability, Fair Value, Gross Liability | 210,000,000 | 237,000,000 | ||
Notional Amount of Derivatives, [Abstract] | ||||
Less than One Year | 33,036,000,000 | 5,566,000,000 | ||
One to Three Years | 6,265,000,000 | 11,028,000,000 | ||
Three to Five Years | 5,744,000,000 | 7,631,000,000 | ||
Over Five Years | 1,545,000,000 | 1,035,000,000 | ||
Notional Amount of Derivatives | 46,590,000,000 | 25,260,000,000 | ||
External Credit Rating, Non Investment Grade [Member] | Credit-related notes [Member] | ||||
Carrying Value [Abstract] | ||||
Less than One Year | 159,000,000 | [2] | 116,000,000 | [2] |
One to Three Years | 154,000,000 | [2] | 161,000,000 | [2] |
Three to Five Years | 702,000,000 | [2] | 314,000,000 | [2] |
Over Five Years | 980,000,000 | [2] | 1,425,000,000 | [2] |
Derivative Liability, Fair Value, Gross Liability | $1,995,000,000 | [2] | $2,016,000,000 | [2] |
[1] | Represents the total contract/notional amount of derivative assets and liabilities outstanding. | |||
[2] | For credit-related notes, maximum payout/notional is the same as carrying value. |
Derivatives_Creditrelated_Cont
Derivatives - Credit-related Contingent Features and Collateral (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | ||
Collateral Held, Cash and Securities | $75,600,000,000 | $85,600,000,000 |
Collateral Already Posted, Aggregate Fair Value | 58,700,000,000 | 74,100,000,000 |
Collateral Not Yet Posted Aggregate Fair Value | 1,800,000,000 | |
Unilateral Derivative Termination Contract [Member] | ||
Derivative [Line Items] | ||
Collateral Already Posted, Aggregate Fair Value | 198,000,000 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 281,000,000 | |
Unilateral Derivative Termination Contract For Rating Downgrade of Long-Term Senior Debt [Member] | ||
Derivative [Line Items] | ||
Collateral Already Posted, Aggregate Fair Value | 1,900,000,000 | |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 2,300,000,000 | |
Rating Agency Downgrade By One Notch [Member] | ||
Derivative [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 3,400,000,000 | |
Rating Agency Downgrade by Two Notches [Member] | ||
Derivative [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 4,400,000,000 | |
Rating Agency Downgrade by Two Notches [Member] | Unilateral Derivative Termination Contract For Rating Downgrade of Long-Term Senior Debt [Member] | ||
Derivative [Line Items] | ||
Collateral Already Posted, Aggregate Fair Value | 800,000,000 | |
Derivative Liability, Incremental Increase, Fair Value, Amount Offset Against Collateral | 1,200,000,000 | |
Bank of America, N.A. [Member] | ||
Derivative [Line Items] | ||
Collateral Not Yet Posted Aggregate Fair Value | 800,000,000 | |
Bank of America, N.A. [Member] | Rating Agency Downgrade By One Notch [Member] | ||
Derivative [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 3,000,000,000 | |
Bank of America, N.A. [Member] | Rating Agency Downgrade by Two Notches [Member] | ||
Derivative [Line Items] | ||
Additional Collateral, Aggregate Fair Value | $300,000,000 |
Derivatives_Derivative_Valuati
Derivatives - Derivative Valuation Adjustments (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Derivative [Line Items] | |||||||||
Increase (Decrease) to Earnings Related to Change in Methodology for Calculating Derivative Valuation Adjustments | $72,000,000 | ||||||||
Net Credit Valuation Adjustment Gain (Loss), Excluding Impact of Change in Calculation Methodology | 230,000,000 | ||||||||
Net Debit Valuation Adjustment (Gain) Loss, Excluding Impact of Change in Calculation Methodology | -307,000,000 | ||||||||
Credit Valuation Gains (Losses) For Counterparty Credit Risk Related To Derivative Assets | 335,000,000 | [1] | 525,000,000 | [1] | 347,000,000 | [1] | 725,000,000 | [1] | |
Credit Valuation Gains Losses Net Of Hedges Recognized In Trading Account Profits For Counterparty Credit Risk | 102,000,000 | [1] | 75,000,000 | [1] | -131,000,000 | [1] | 237,000,000 | [1] | |
Decrease in Derivative Asset Value Related to Cumulative Counterparty Credit Risk Valuation | 2,000,000,000 | 2,000,000,000 | 2,400,000,000 | ||||||
Credit Valuation Gain (Loss) Recognized In Trading Account Profit (Loss) Related to Changes in the Entity's Credit Quality | -293,000,000 | [2] | -606,000,000 | [2] | 159,000,000 | [2] | -1,899,000,000 | [2] | |
Credit Valuation Gains Losses Net Of Hedges Recognized In Trading Account Profits Losses | -292,000,000 | -583,000,000 | 126,000,000 | -2,200,000,000 | |||||
Decrease in Derivative Liability Value Related to Cumulative Counterparty Credit Risk Valuation | 1,000,000,000 | 1,000,000,000 | 807,000,000 | ||||||
CVA Change in Calculation Methodology [Member] | |||||||||
Derivative [Line Items] | |||||||||
Credit Valuation Gains (Losses) in Derivative Asset Value Related to Change in Calculation Methodology | 361,000,000 | ||||||||
DVA Change in Calculation Methodology [Member] | |||||||||
Derivative [Line Items] | |||||||||
Increase (Decrease) in Derivative Valuation Adjustment Related to Change in Calculation Methodology | $433,000,000 | ||||||||
[1] | At September 30, 2013 and December 31, 2012, the cumulative CVA reduced the derivative assets balance by $2.0 billion and $2.4 billion. | ||||||||
[2] | At September 30, 2013 and December 31, 2012, the cumulative DVA reduced the derivative liabilities balance by $1.0 billion and $807 million. |
Securities_Amortized_Cost_Gain
Securities - Amortized Cost, Gains and Losses, and Fair Value (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||||||
US Government Corporations and Agencies Securities [Member] | US Government Corporations and Agencies Securities [Member] | Debt [Member] | Debt [Member] | Debt [Member] | Debt [Member] | Taxable Securities [Member] | Taxable Securities [Member] | Agency Securities [Member] | Agency Securities [Member] | Collateralized Mortgage Obligations [Member] | Collateralized Mortgage Obligations [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Commercial Mortgage Backed Securities [Member] | Commercial Mortgage Backed Securities [Member] | Non United States Securities [Member] | Non United States Securities [Member] | Corporate Bond Securities [Member] | Corporate Bond Securities [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Tax-exempt securities [Member] | Tax-exempt securities [Member] | Equity securities [Member] | Equity securities [Member] | ||||||||||||
Prime Loan [Member] | Prime Loan [Member] | Alt-A Loan [Member] | Alt-A Loan [Member] | Subprime Loan [Member] | Subprime Loan [Member] | ||||||||||||||||||||||||||||||||||||||
Debt and Marketable Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Amortized Cost | $2,872 | $24,232 | $236,284 | $279,860 | $231,020 | $275,693 | $170,911 | $183,247 | $27,187 | $36,329 | $6,788 | [1] | $9,231 | [2] | $2,751 | $3,576 | $6,217 | $5,574 | $1,152 | $1,415 | $13,142 | $12,089 | $5,264 | $4,167 | |||||||||||||||||||
Available-for-sale Securities, Gross Unrealized Gains | 127 | 324 | 2,199 | 7,706 | 2,193 | 7,693 | 1,311 | 5,048 | 340 | 1,427 | 239 | [1] | 391 | [2] | 84 | 348 | 35 | 50 | 28 | 51 | 29 | 54 | 6 | 13 | 0 | [3] | 732 | [4] | |||||||||||||||
Available-for-sale Securities, Gross Unrealized Losses | -28 | -84 | -3,587 | -660 | -3,551 | -613 | -3,197 | -146 | -192 | -218 | -98 | [1] | -128 | [2] | -8 | 0 | -12 | -6 | -10 | -16 | -6 | -15 | -36 | -47 | -5 | [3] | 0 | [4] | |||||||||||||||
AFS Debt Securities | 2,971 | 24,472 | 234,896 | 286,906 | 229,662 | 282,773 | 169,025 | 188,149 | 27,335 | 37,538 | 6,929 | [1] | 9,494 | [2] | 2,827 | 3,924 | 6,240 | 5,618 | 1,170 | 1,450 | 13,165 | 12,128 | 5,234 | 4,133 | |||||||||||||||||||
Other Debt Securities Carried at Fair Value, Amortized Cost | 32,365 | 32,365 | 23,927 | ||||||||||||||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value, Gross Unrealized Gain | 98 | 98 | 120 | ||||||||||||||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value, Gross Unrealized Loss | -1,010 | -1,010 | -103 | ||||||||||||||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value | 31,453 | 31,453 | 23,944 | 0 | 491 | 18,626 | 13,073 | 563 | 929 | 758 | 0 | 11,506 | [5] | 9,451 | [5] | ||||||||||||||||||||||||||||
Debt Securities Carried at Fair Value, Amortized Cost | 268,649 | 268,649 | 303,787 | ||||||||||||||||||||||||||||||||||||||||
Debt Securities Carried at Fair Value, Gross Unrealized Gain | 2,297 | 2,297 | 7,826 | ||||||||||||||||||||||||||||||||||||||||
Debt Securities Carried at Fair Value, Gross Unrealized Loss | -4,597 | -4,597 | -763 | ||||||||||||||||||||||||||||||||||||||||
Debt Securities Carried at Fair Value | 266,349 | 266,349 | 310,850 | 2,971 | 261,115 | 187,651 | 27,898 | 6,929 | 3,585 | 1,170 | 13,165 | 5,234 | |||||||||||||||||||||||||||||||
Held-to-maturity debt securities, Amortized Cost | 54,649 | [6] | 54,649 | [6] | 49,481 | ||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities, Unrecognized Holding Gain | 67 | 67 | 815 | ||||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities, Unrecognized Holding Loss | -1,865 | -1,865 | -26 | ||||||||||||||||||||||||||||||||||||||||
Held-to-maturity Securities, Fair Value | 52,851 | [6] | 52,851 | [6] | 50,270 | ||||||||||||||||||||||||||||||||||||||
Total Debt Securities Amortized Cost | 323,298 | 323,298 | 353,268 | ||||||||||||||||||||||||||||||||||||||||
Total Debt Securities Gross Unrealized Gains | 2,364 | 2,364 | 8,641 | ||||||||||||||||||||||||||||||||||||||||
Total Debt Securities Gross Unrealized Losses | -6,462 | -6,462 | -789 | ||||||||||||||||||||||||||||||||||||||||
Debt Securities, Fair Value | 319,200 | 319,200 | 361,120 | ||||||||||||||||||||||||||||||||||||||||
Available-for-sale Equity Securities, Amortized Cost Basis | 119 | [3] | 780 | [4] | |||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Equity Securities | 114 | [3] | 1,512 | [4] | |||||||||||||||||||||||||||||||||||||||
Table Details [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities, Debt Maturities, Percent Held by Rating | 89.00% | 91.00% | 7.00% | 6.00% | 4.00% | 3.00% | |||||||||||||||||||||||||||||||||||||
In Text Details [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -860 | -860 | 5,745 | 4,443 | 3,100 | ||||||||||||||||||||||||||||||||||||||
Net change in fair value of accumulated OCI, tax effect, Securities | -528 | -2,813 | 2,024 | ||||||||||||||||||||||||||||||||||||||||
Nonperforming Debt Securities | 97 | 97 | 91 | ||||||||||||||||||||||||||||||||||||||||
Other Debt Securities Carried at Fair Value, Gains (Losses) | ($56) | ($1,600) | |||||||||||||||||||||||||||||||||||||||||
[1] | At September 30, 2013, the underlying collateral type included approximately 89 percent prime, seven percent Alt-A and four percent subprime. | ||||||||||||||||||||||||||||||||||||||||||
[2] | At December 31, 2012, the underlying collateral type included approximately 91 percent prime, six percent Alt-A and three percent subprime. | ||||||||||||||||||||||||||||||||||||||||||
[3] | Classified in other assets on the Consolidated Balance Sheet.Debt Securities and Available-for-Sale Marketable Equity Securities December 31, 2012(Dollars in millions)AmortizedCost GrossUnrealizedGains GrossUnrealizedLosses Fair ValueAvailable-for-sale debt securities U.S. Treasury and agency securities$24,232 $324 $(84) $24,472Mortgage-backed securities: Agency183,247 5,048 (146) 188,149Agency-collateralized mortgage obligations36,329 1,427 (218) 37,538Non-agency residential (1)9,231 391 (128) 9,494Non-agency commercial3,576 348 — 3,924Non-U.S. securities5,574 50 (6) 5,618Corporate/Agency bonds1,415 51 (16) 1,450Other taxable securities, substantially all asset-backed securities12,089 54 (15) 12,128Total taxable securities275,693 7,693 (613) 282,773Tax-exempt securities4,167 13 (47) 4,133Total available-for-sale debt securities279,860 7,706 (660) 286,906Other debt securities carried at fair value23,927 120 (103) 23,944Total debt securities carried at fair value303,787 7,826 (763) 310,850Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities49,481 815 (26) 50,270Total debt securities$353,268 $8,641 $(789) $361,120Available-for-sale marketable equity securities (2)$780 $732 $— $1,512 | ||||||||||||||||||||||||||||||||||||||||||
[4] | Classified in other assets on the Consolidated Balance Sheet. | ||||||||||||||||||||||||||||||||||||||||||
[5] | These securities are used to satisfy certain international regulatory liquidity requirements. | ||||||||||||||||||||||||||||||||||||||||||
[6] | Substantially all U.S. agency MBS. |
Securities_OTTI_and_Loss_Detai
Securities - OTTI and Loss (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||||
Total OTTI losses (unrealized and realized) | ($8) | ($9) | ($21) | ($70) | ||
Unrealized OTTI losses recognized in accumulated OCI | 1 | 3 | 1 | 18 | ||
Net impairment losses recognized in earnings | -7 | -6 | -20 | -52 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||||
Beginning Balance | 205 | 246 | 243 | 310 | ||
Additions for credit losses recognized on debt securities that had no previous impairment losses | 1 | 0 | 6 | 6 | ||
Additions for credit losses recognized on debt securities that had previously incurred impairment losses | 6 | 6 | 14 | 46 | ||
Reductions for debt securities sold or intended to be sold | 0 | -8 | -51 | -118 | ||
Ending Balance | 212 | 244 | 212 | 244 | ||
Residential Mortgage Backed Securities [Member] | ||||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||||
Total OTTI losses (unrealized and realized) | -8 | -9 | -21 | -64 | ||
Unrealized OTTI losses recognized in accumulated OCI | 1 | 3 | 1 | 18 | ||
Net impairment losses recognized in earnings | -7 | -6 | -20 | -46 | ||
Residential Mortgage Backed Securities [Member] | Weighted average [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Prepayment speed | 10.50% | 10.50% | ||||
Loss Severity | 45.80% | 45.80% | ||||
Life Default Rate | 44.60% | 44.60% | ||||
Residential Mortgage Backed Securities [Member] | Tenth Percentile [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Prepayment speed | 1.30% | [1],[2] | 1.30% | [1],[2] | ||
Loss Severity | 16.40% | [1],[2] | 16.40% | [1],[2] | ||
Life Default Rate | 1.30% | [1],[2] | 1.30% | [1],[2] | ||
Residential Mortgage Backed Securities [Member] | Ninetieth Percentile [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Prepayment speed | 22.10% | [1],[2] | 22.10% | [1],[2] | ||
Loss Severity | 59.10% | [1],[2] | 59.10% | [1],[2] | ||
Life Default Rate | 99.70% | [1],[2] | 99.70% | [1],[2] | ||
Commercial Mortgage Backed Securities [Member] | ||||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||||
Total OTTI losses (unrealized and realized) | 0 | 0 | 0 | -6 | ||
Unrealized OTTI losses recognized in accumulated OCI | 0 | 0 | 0 | 0 | ||
Net impairment losses recognized in earnings | $0 | $0 | $0 | ($6) | ||
Prime Loan [Member] | Residential Mortgage Backed Securities [Member] | Weighted average [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Loss Severity | 42.60% | 42.60% | ||||
Life Default Rate | 31.30% | 31.30% | ||||
Alt-A Loan [Member] | Residential Mortgage Backed Securities [Member] | Weighted average [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Loss Severity | 46.40% | 46.40% | ||||
Life Default Rate | 55.50% | 55.50% | ||||
Subprime Loan [Member] | Residential Mortgage Backed Securities [Member] | Weighted average [Member] | ||||||
Valuation Of Non Agency Residential Mortgage Backed Securities [Abstract] | ||||||
Loss Severity | 54.40% | 54.40% | ||||
Life Default Rate | 36.30% | 36.30% | ||||
[1] | Represents the range of inputs/assumptions based upon the underlying collateral. | |||||
[2] | The value of a variable below which the indicated percentile of observations will fall. |
Securities_Gross_Unrealized_Lo
Securities - Gross Unrealized Losses (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | Securities | Securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | $129,269 | [1] | $26,336 | [2] |
Less than Twelve Months, Gross Unrealized Losses | -3,273 | [1] | -279 | [2] |
Twelve Months or Longer, Fair Value | 8,461 | [1] | 16,314 | [2] |
Twelve Months or Longer, Gross Unrealized Losses | -314 | [1] | -381 | [2] |
Total, Fair Value | 137,730 | [1] | 42,650 | [2] |
Total, Gross Unrealized Losses | -3,587 | [1] | -660 | [2] |
Table Details [Abstract] | ||||
Number of Available for Sale Securities Amortized Cost Exceeds Fair Value | 4,900 | 2,600 | ||
Available for Sale Securities Amortized Cost Exceeding Fair Value | -3,600 | -660 | ||
Temporarily Impaired [Member] | US Government Corporations and Agencies Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 781 | |||
Less than Twelve Months, Gross Unrealized Losses | -28 | |||
Twelve Months or Longer, Fair Value | 0 | 5,608 | ||
Twelve Months or Longer, Gross Unrealized Losses | 0 | -84 | ||
Total, Fair Value | 781 | 5,608 | ||
Total, Gross Unrealized Losses | -28 | -84 | ||
Temporarily Impaired [Member] | Debt Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 129,269 | 26,322 | ||
Less than Twelve Months, Gross Unrealized Losses | -3,273 | -278 | ||
Twelve Months or Longer, Fair Value | 8,459 | 16,240 | ||
Twelve Months or Longer, Gross Unrealized Losses | -312 | -377 | ||
Total, Fair Value | 137,728 | 42,562 | ||
Total, Gross Unrealized Losses | -3,585 | -655 | ||
Temporarily Impaired [Member] | Taxable Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 127,830 | 24,713 | ||
Less than Twelve Months, Gross Unrealized Losses | -3,259 | -269 | ||
Twelve Months or Longer, Fair Value | 7,455 | 15,168 | ||
Twelve Months or Longer, Gross Unrealized Losses | -290 | -339 | ||
Total, Fair Value | 135,285 | 39,881 | ||
Total, Gross Unrealized Losses | -3,549 | -608 | ||
Temporarily Impaired [Member] | Agency Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 117,986 | 15,593 | ||
Less than Twelve Months, Gross Unrealized Losses | -3,079 | -133 | ||
Twelve Months or Longer, Fair Value | 2,870 | 735 | ||
Twelve Months or Longer, Gross Unrealized Losses | -118 | -13 | ||
Total, Fair Value | 120,856 | 16,328 | ||
Total, Gross Unrealized Losses | -3,197 | -146 | ||
Temporarily Impaired [Member] | Collateralized Mortgage Obligations [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 6,417 | 5,135 | ||
Less than Twelve Months, Gross Unrealized Losses | -121 | -121 | ||
Twelve Months or Longer, Fair Value | 2,666 | 4,994 | ||
Twelve Months or Longer, Gross Unrealized Losses | -71 | -97 | ||
Total, Fair Value | 9,083 | 10,129 | ||
Total, Gross Unrealized Losses | -192 | -218 | ||
Temporarily Impaired [Member] | Residential Mortgage Backed Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 921 | 592 | ||
Less than Twelve Months, Gross Unrealized Losses | -19 | -13 | ||
Twelve Months or Longer, Fair Value | 1,293 | 1,555 | ||
Twelve Months or Longer, Gross Unrealized Losses | -77 | -110 | ||
Total, Fair Value | 2,214 | 2,147 | ||
Total, Gross Unrealized Losses | -96 | -123 | ||
Temporarily Impaired [Member] | Commercial Mortgage Backed Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 274 | |||
Less than Twelve Months, Gross Unrealized Losses | -8 | |||
Total, Fair Value | 274 | |||
Total, Gross Unrealized Losses | -8 | |||
Temporarily Impaired [Member] | Foreign Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 0 | 1,715 | ||
Less than Twelve Months, Gross Unrealized Losses | 0 | -1 | ||
Twelve Months or Longer, Fair Value | 48 | 563 | ||
Twelve Months or Longer, Gross Unrealized Losses | -12 | -5 | ||
Total, Fair Value | 48 | 2,278 | ||
Total, Gross Unrealized Losses | -12 | -6 | ||
Temporarily Impaired [Member] | Corporate Bond Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 59 | 0 | ||
Less than Twelve Months, Gross Unrealized Losses | -1 | 0 | ||
Twelve Months or Longer, Fair Value | 279 | 277 | ||
Twelve Months or Longer, Gross Unrealized Losses | -9 | -16 | ||
Total, Fair Value | 338 | 277 | ||
Total, Gross Unrealized Losses | -10 | -16 | ||
Temporarily Impaired [Member] | Other Debt Obligations [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 1,392 | 1,678 | ||
Less than Twelve Months, Gross Unrealized Losses | -3 | -1 | ||
Twelve Months or Longer, Fair Value | 299 | 1,436 | ||
Twelve Months or Longer, Gross Unrealized Losses | -3 | -14 | ||
Total, Fair Value | 1,691 | 3,114 | ||
Total, Gross Unrealized Losses | -6 | -15 | ||
Temporarily Impaired [Member] | Tax-exempt securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 1,439 | 1,609 | ||
Less than Twelve Months, Gross Unrealized Losses | -14 | -9 | ||
Twelve Months or Longer, Fair Value | 1,004 | 1,072 | ||
Twelve Months or Longer, Gross Unrealized Losses | -22 | -38 | ||
Total, Fair Value | 2,443 | 2,681 | ||
Total, Gross Unrealized Losses | -36 | -47 | ||
Other Than Temporarily Impaired [Member] | Residential Mortgage Backed Securities [Member] | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||||
Less than Twelve Months, Fair Value | 0 | [3] | 14 | [3] |
Less than Twelve Months, Gross Unrealized Losses | 0 | [3] | -1 | [3] |
Twelve Months or Longer, Fair Value | 2 | [3] | 74 | [3] |
Twelve Months or Longer, Gross Unrealized Losses | -2 | [3] | -4 | [3] |
Total, Fair Value | 2 | [3] | 88 | [3] |
Total, Gross Unrealized Losses | ($2) | [3] | ($5) | [3] |
[1] | At September 30, 2013, the amortized cost of approximately 4,900 AFS debt securities exceeded their fair value by $3.6 billion. | |||
[2] | At December 31, 2012, the amortized cost of approximately 2,600 AFS debt securities exceeded their fair value by $660 million. | |||
[3] | Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI. |
Securities_US_GSE_Agency_and_T
Securities - U.S. GSE, Agency, and Treasury Securities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities Amortized Cost | $323,298 | $353,268 |
Debt Securities, Fair Value | 319,200 | 361,120 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities Amortized Cost | 134,317 | 121,522 |
Debt Securities, Fair Value | 131,689 | 123,933 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities Amortized Cost | 114,509 | 124,348 |
Debt Securities, Fair Value | 113,138 | 127,541 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities Amortized Cost | 26,096 | 22,995 |
Debt Securities, Fair Value | $25,724 | $23,502 |
Securities_Expected_Maturity_D
Securities - Expected Maturity (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | |||
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | $6 | [1] | |
Held-to-maturity Securities, Debt Maturities, Yield, within One Year | 5.00% | [1],[2] | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 76 | [1] | |
Held-to-maturity Securities, Debt Maturities, Yield, after One Through Five Years | 2.29% | [1],[2] | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 53,394 | [1] | |
Held-to-maturity Securities, Debt Maturities, Yield, after Five Through Ten Years | 2.56% | [1],[2] | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 1,173 | [1] | |
Held-to-maturity Securities, Debt Maturities, Yield, after Ten Years | 2.67% | [1],[2] | |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 54,649 | [1] | 49,481 |
Held-to-maturity Securities, Debt Maturities, Yield | 2.56% | [1],[2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value | 266,349 | 310,850 | |
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract] | |||
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 6 | [1] | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Fair Value | 76 | [1] | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 51,643 | [1] | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 1,126 | [1] | |
US Government Corporations and Agencies Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 544 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 0.62% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 810 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 2.22% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 1,505 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 4.25% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 13 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 2.72% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 2,872 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 2.98% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 546 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 830 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 1,582 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 13 | ||
Debt Securities Carried at Fair Value | 2,971 | ||
Debt Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 24,772 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 1.42% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 38,912 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 2.62% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 127,777 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.11% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 77,188 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 2.85% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 268,649 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 2.81% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 24,814 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 39,311 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 127,208 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 75,016 | ||
Debt Securities Carried at Fair Value | 266,349 | ||
Taxable Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 24,336 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 1.42% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 37,037 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 2.68% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 125,986 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.12% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 76,026 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 2.88% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 263,385 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 2.84% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 24,378 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 37,431 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 125,429 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 73,877 | ||
Debt Securities Carried at Fair Value | 261,115 | ||
Agency Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 14 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 4.58% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 16,868 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 2.89% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 99,186 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.10% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 74,405 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 2.90% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 190,473 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 3.01% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 16 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 17,052 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 98,361 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 72,222 | ||
Debt Securities Carried at Fair Value | 187,651 | ||
Collateralized Mortgage Obligations [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 1,525 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 0.04% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 6,315 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 1.48% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 19,816 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.26% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 12 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 1.39% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 27,668 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 2.67% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 1,533 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 6,300 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 20,052 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 13 | ||
Debt Securities Carried at Fair Value | 27,898 | ||
Residential Mortgage Backed Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 366 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 4.80% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 3,788 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 4.54% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 1,868 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.51% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 766 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 2.82% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 6,788 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 4.07% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 373 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 3,892 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 1,867 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 797 | ||
Debt Securities Carried at Fair Value | 6,929 | ||
Commercial Mortgage Backed Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 1,721 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 5.08% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 736 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 5.46% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 1,092 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 2.51% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 18 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 3.45% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 3,567 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 4.37% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 1,759 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 778 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 1,030 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 18 | ||
Debt Securities Carried at Fair Value | 3,585 | ||
Foreign Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 15,411 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 1.02% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 2,152 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 3.91% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 152 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 3.06% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 8 | ||
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 17,723 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 1.38% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 15,396 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 2,185 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 157 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 8 | ||
Debt Securities Carried at Fair Value | 17,746 | ||
Corporate Bond Securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 442 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 2.49% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 564 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 2.66% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 144 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 4.31% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 2 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 6.34% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 1,152 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 2.79% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 446 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 573 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 148 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 3 | ||
Debt Securities Carried at Fair Value | 1,170 | ||
Other Debt Obligations [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 4,313 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 1.61% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 5,804 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 1.45% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 2,223 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 1.97% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 802 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 1.04% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 13,142 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 1.57% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 4,309 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 5,821 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 2,232 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 803 | ||
Debt Securities Carried at Fair Value | 13,165 | ||
Tax-exempt securities [Member] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Amortized Cost Basis [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 436 | ||
Debt Securities Carried at Fair Value Debt Maturities, Yield, Within One Year | 1.21% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 1,875 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after One Through Five Years | 1.56% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 1,791 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Five Through Ten Years | 1.91% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Amortized Cost Basis | 1,162 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield, after Ten Years | 0.77% | [2] | |
Debt Securties Carried at Fair Value, Debt Maturities, Amortized Cost Basis | 5,264 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Yield | 1.57% | [2] | |
Debt Securities Carried at Fair Value, Debt Maturities, Fair Value [Abstract] | |||
Debt Securities Carried at Fair Value, Debt Maturities, Next Twelve Months, Fair Value | 436 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Two Through Five, Fair Value | 1,880 | ||
Debt Securities Carried at Fair Value, Debt Maturities, Year Six Through Ten, Fair Value | 1,779 | ||
Debt Securities Carried at Fair Value, Debt Maturities, after Ten Years, Fair Value | 1,139 | ||
Debt Securities Carried at Fair Value | $5,234 | ||
[1] | Substantially all U.S. agency MBS. | ||
[2] | Average yield is computed using the effective yield of each security at the end of the period, weighted based on the amortized cost of each security. The effective yield considers the contractual coupon, amortization of premiums and accretion of discounts, and excludes the effect of related hedging derivatives. |
Securities_Realized_Gains_and_
Securities - Realized Gains and Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ||||
Net gains on sales of debt securities | $356 | $339 | $881 | $1,491 |
Debt Securities [Member] | ||||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ||||
Gross Gains | 358 | 361 | 901 | 1,957 |
Gross Losses | -2 | -22 | -20 | -466 |
Net gains on sales of debt securities | 356 | 339 | 881 | 1,491 |
Income tax expense attributable to realized net gains on sales of AFS debt securities | $132 | $125 | $326 | $552 |
Securities_Certain_Corporate_a
Securities - Certain Corporate and Strategic Investments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Share data in Billions, unless otherwise specified | First Data Corporation [Member] | First Data Corporation [Member] | China Construction Bank [Member] | Common Stock [Member] | Common Stock [Member] |
China Construction Bank [Member] | China Construction Bank [Member] | ||||
Cost Method Investments [Abstract] | |||||
Investment Owned, Balance, Shares | 2 | ||||
Gain (Loss) on Sale of Investments | $753,000,000 | ||||
Cost method investment ownership percentage | 1.00% | ||||
Equity Method Investments and Joint Ventures [Abstract] | |||||
Equity Method Investment, Ownership Percentage | 49.00% | ||||
Equity Method Investments | $3,200,000,000 | $3,300,000,000 |
Outstanding_Loans_and_Leases_D
Outstanding Loans and Leases (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $7,518,000,000 | [1] | $8,134,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,653,000,000 | [1] | 4,379,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 30,942,000,000 | [3] | 39,036,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 42,113,000,000 | 51,549,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 854,915,000,000 | [5] | 821,150,000,000 | [6] |
Purchased Credit-Impaired | 27,168,000,000 | [7] | 26,118,000,000 | [7] |
Loans Receivable, Fair Value Disclosure | 10,196,000,000 | 9,002,000,000 | ||
Loans and Leases Receivable, Total Outstanding | 934,392,000,000 | 907,819,000,000 | ||
Number of Basis point of the original pool balance to be required to reimburse the Mezzanine risk protection | 10.00% | |||
Mezzanine risk protection | 376,000,000 | 500,000,000 | ||
Receivables from synthetic securitizations for reimbursement of losses | 206,000,000 | 305,000,000 | ||
Residential Mortgage loans under mezzanine risk protection agreements | 13,500,000,000 | 17,600,000,000 | ||
Thirty To Fifty Nine Days Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 0.81% | [1] | 0.90% | [2] |
Loans And Leases Receivable Fully Insured Loans | 2,600,000,000 | 2,300,000,000 | ||
Loans And Leases Receivable Nonperforming loans | 736,000,000 | 702,000,000 | ||
Sixty To Eighty Nine Days Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 0.39% | [1] | 0.48% | [2] |
Loans And Leases Receivable Fully Insured Loans | 1,200,000,000 | 1,300,000,000 | ||
Loans And Leases Receivable Nonperforming loans | 494,000,000 | 558,000,000 | ||
Ninety Days Or More Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 3.31% | [3] | 4.30% | [4] |
Loans And Leases Receivable Fully Insured Loans | 18,000,000,000 | 22,200,000,000 | ||
Past Due Thirty Days Or More [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 4.51% | 5.68% | ||
Current Or Less Than Thirty Days Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 91.49% | [5] | 90.45% | [6] |
Loans And Leases Receivable Nonperforming loans | 6,200,000,000 | 5,500,000,000 | ||
Purchased Credit-Impaired [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 2.91% | [7] | 2.88% | [7] |
Loans Measured at Fair Value [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 1.09% | 0.99% | ||
Credit Card and Other Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 6,901,000,000 | [1] | 7,545,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,309,000,000 | [1] | 3,948,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 29,854,000,000 | [3] | 37,216,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 40,064,000,000 | 48,709,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 470,228,000,000 | [5] | 477,607,000,000 | [6] |
Purchased Credit-Impaired | 27,168,000,000 | [7] | 26,118,000,000 | [7] |
Loans and Leases Receivable, Net of Deferred Income and Loans At Fair Value | 537,460,000,000 | 552,434,000,000 | ||
Consumer Including Residential Mortgage Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 6,901,000,000 | [1] | 7,545,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 3,309,000,000 | [1] | 3,948,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 29,854,000,000 | [3] | 37,216,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 40,064,000,000 | 48,709,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 470,228,000,000 | [5] | 477,607,000,000 | [6] |
Purchased Credit-Impaired | 27,168,000,000 | [7] | 26,118,000,000 | [7] |
Loans Receivable, Fair Value Disclosure | 2,186,000,000 | [8] | 1,005,000,000 | [9] |
Loans and Leases Receivable, Total Outstanding | 539,646,000,000 | 553,439,000,000 | ||
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 617,000,000 | [1] | 589,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 344,000,000 | [1] | 431,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,088,000,000 | [3] | 1,820,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 2,049,000,000 | 2,840,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 384,687,000,000 | [5] | 343,543,000,000 | [6] |
Loans Receivable, Fair Value Disclosure | 8,010,000,000 | [8] | 7,997,000,000 | [9] |
Loans and Leases Receivable, Total Outstanding | 394,746,000,000 | 354,380,000,000 | ||
Loans and Leases Receivable, Net of Deferred Income and Loans At Fair Value | 386,736,000,000 | 346,383,000,000 | ||
Commercial [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans Receivable, Gross, Commercial, Real Estate | 43,500,000,000 | 37,200,000,000 | ||
Commercial [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans Receivable, Gross, Commercial, Real Estate | 1,400,000,000 | 1,500,000,000 | ||
Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchased Credit-Impaired | 20,064,000,000 | [10],[11] | 17,451,000,000 | [12],[13] |
Loans Receivable, Fair Value Disclosure | 2,200,000,000 | 1,000,000,000 | ||
Unpaid Principal Balance of Loans Covered by Protection Agreements | 27,600,000,000 | 24,300,000,000 | ||
Residential Mortgage [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Total Outstanding | 87,000,000 | 93,000,000 | ||
Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,182,000,000 | [1],[14] | 2,274,000,000 | [15],[2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 766,000,000 | [1],[14] | 806,000,000 | [15],[2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 7,452,000,000 | [14],[3] | 6,227,000,000 | [15],[4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 10,400,000,000 | [14] | 9,307,000,000 | [15] |
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 167,108,000,000 | [14],[5] | 160,809,000,000 | [15],[6] |
Loans and Leases Receivable, Total Outstanding | 177,508,000,000 | [11],[14],[16] | 170,116,000,000 | [12],[15],[16] |
Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,952,000,000 | [1],[17] | 2,938,000,000 | [18],[2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,485,000,000 | [1],[17] | 1,714,000,000 | [18],[2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 18,793,000,000 | [17],[3] | 26,728,000,000 | [18],[4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 23,230,000,000 | [17] | 31,380,000,000 | [18] |
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 32,694,000,000 | [17],[5] | 33,982,000,000 | [18],[6] |
Purchased Credit-Impaired | 20,064,000,000 | [17],[7] | 17,451,000,000 | [18],[7] |
Loans and Leases Receivable, Total Outstanding | 75,988,000,000 | [17] | 82,813,000,000 | [18] |
Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchased Credit-Impaired | 7,104,000,000 | [11] | 8,667,000,000 | [12] |
Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 230,000,000 | [1] | 273,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 118,000,000 | [1] | 146,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 654,000,000 | [3] | 591,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 1,002,000,000 | 1,010,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 54,714,000,000 | [5] | 59,841,000,000 | [6] |
Loans and Leases Receivable, Total Outstanding | 55,716,000,000 | [11],[16] | 60,851,000,000 | [12],[16] |
Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 439,000,000 | [1] | 608,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 234,000,000 | [1] | 357,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,289,000,000 | [3] | 1,444,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 1,962,000,000 | 2,409,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 31,871,000,000 | [5] | 36,213,000,000 | [6] |
Purchased Credit-Impaired | 7,104,000,000 | [7] | 8,667,000,000 | [7] |
Loans and Leases Receivable, Total Outstanding | 40,937,000,000 | 47,289,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 609,000,000 | [1] | 729,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 454,000,000 | [1] | 582,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,049,000,000 | [3] | 1,437,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 2,112,000,000 | 2,748,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 88,168,000,000 | [5] | 92,087,000,000 | [6] |
Loans and Leases Receivable, Total Outstanding | 90,280,000,000 | 94,835,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 67,000,000 | [1] | 106,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 55,000,000 | [1] | 85,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 142,000,000 | [3] | 212,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 264,000,000 | 403,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 10,819,000,000 | [5] | 11,294,000,000 | [6] |
Loans and Leases Receivable, Total Outstanding | 11,083,000,000 | 11,697,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | Thirty To Eighty Nine Days Past Due Member | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 1.00% | 1.00% | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | Ninety Days Or More Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 1.00% | 2.00% | ||
Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 398,000,000 | [1],[19] | 569,000,000 | [2],[20] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 188,000,000 | [1],[19] | 239,000,000 | [2],[20] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 456,000,000 | [19],[3] | 573,000,000 | [20],[4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 1,042,000,000 | [19] | 1,381,000,000 | [20] |
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 82,993,000,000 | [19],[5] | 81,824,000,000 | [20],[6] |
Loans and Leases Receivable, Total Outstanding | 84,035,000,000 | [19] | 83,205,000,000 | [20] |
Dealer financial services loans in outstanding direct indirect consumer loans | 39,500,000,000 | 35,900,000,000 | ||
Consumer Lending within Direct Indirect consumer loans | 3,100,000,000 | 4,700,000,000 | ||
Domestic Securities based lending margin loans within direct indirect consumer loans | 30,400,000,000 | 28,300,000,000 | ||
Foreign Consumer within Direct Indirect consumer loans | 5,700,000,000 | 8,300,000,000 | ||
Student Loans within Direct Indirect consumer loans | 4,300,000,000 | 4,800,000,000 | ||
Other Consumer Loans within Direct Indirect consumer loans | 1,000,000,000 | 1,200,000,000 | ||
Direct And Indirect Consumer Financing Receivable [Member] | Current Or Less Than Thirty Days Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans And Leases Receivable Nonperforming loans | 39,000,000 | 63,000,000 | ||
Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 24,000,000 | [1],[21] | 48,000,000 | [2],[22] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 9,000,000 | [1],[21] | 19,000,000 | [2],[22] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 19,000,000 | [21],[3] | 4,000,000 | [22],[4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 52,000,000 | [21] | 71,000,000 | [22] |
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 1,861,000,000 | [21],[5] | 1,557,000,000 | [22],[6] |
Loans and Leases Receivable, Total Outstanding | 1,913,000,000 | [21],[23] | 1,628,000,000 | [22],[24] |
Consumer Finance | 1,200,000,000 | 1,400,000,000 | ||
Consumer Leases | 492,000,000 | 34,000,000 | ||
Consumer Overdrafts | 175,000,000 | 177,000,000 | ||
Other consumer [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Consumer Finance | 5,000,000 | 5,000,000 | ||
Commercial Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 187,000,000 | [1] | 323,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 124,000,000 | [1] | 133,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 445,000,000 | [3] | 639,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 756,000,000 | 1,095,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 210,358,000,000 | [5] | 196,031,000,000 | [6] |
Loans Receivable, Fair Value Disclosure | 1,800,000,000 | 2,300,000,000 | ||
Loans and Leases Receivable, Total Outstanding | 211,114,000,000 | [25] | 197,126,000,000 | [25] |
Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 286,000,000 | [1] | 2,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,000,000 | [1] | ||
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 3,000,000 | [3] | ||
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 290,000,000 | 2,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 92,655,000,000 | [5] | 74,182,000,000 | [6] |
Loans Receivable, Fair Value Disclosure | 6,200,000,000 | 5,700,000,000 | ||
Loans and Leases Receivable, Total Outstanding | 92,945,000,000 | [25] | 74,184,000,000 | [25] |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 44,000,000 | [1],[26] | 79,000,000 | [2],[27] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 108,000,000 | [1],[26] | 144,000,000 | [2],[27] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 440,000,000 | [26],[3] | 983,000,000 | [27],[4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 592,000,000 | [26] | 1,206,000,000 | [27] |
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 44,348,000,000 | [26],[5] | 37,431,000,000 | [27],[6] |
Loans and Leases Receivable, Total Outstanding | 44,940,000,000 | [25],[26] | 38,637,000,000 | [25],[27] |
Commercial Lease Financing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 29,000,000 | [1] | 84,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 53,000,000 | [1] | 79,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 72,000,000 | [3] | 30,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 154,000,000 | 193,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 24,435,000,000 | [5] | 23,650,000,000 | [6] |
Loans and Leases Receivable, Total Outstanding | 24,589,000,000 | [25] | 23,843,000,000 | [25] |
U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 71,000,000 | [1] | 101,000,000 | [2] |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 58,000,000 | [1] | 75,000,000 | [2] |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 128,000,000 | [3] | 168,000,000 | [4] |
Financing Receivable Recorded Investment Past Due Excluding 1 To 29 Days Past Due | 257,000,000 | 344,000,000 | ||
Financing Receivable Recorded Investment Current And 1 To 29 Days Past Due | 12,891,000,000 | [5] | 12,249,000,000 | [6] |
Loans and Leases Receivable, Total Outstanding | 13,148,000,000 | 12,593,000,000 | ||
U.S. Small Business Commercial | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Total Outstanding | 13,148,000,000 | [25],[28] | 12,593,000,000 | [25],[29] |
Pay option [Member] | Legacy Asset Servicing Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchased Credit-Impaired | 5,200,000,000 | 6,700,000,000 | ||
Pay option [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Purchased Credit-Impaired | $4,700,000,000 | [10],[11] | $6,100,000,000 | [10],[11] |
[1] | Home loans 30-59 days past due includes fully-insured loans of $2.6 billion and nonperforming loans of $736 million. Home loans 60-89 days past due includes fully-insured loans of $1.2 billion and nonperforming loans of $494 million. | |||
[2] | Home loans 30-59 days past due includes fully-insured loans of $2.3 billion and nonperforming loans of $702 million. Home loans 60-89 days past due includes fully-insured loans of $1.3 billion and nonperforming loans of $558 million. | |||
[3] | Home loans includes fully-insured loans of $18.0 billion. | |||
[4] | Home loans includes fully-insured loans of $22.2 billion. | |||
[5] | Home loans includes $6.2 billion and direct/indirect consumer includes $39 million of nonperforming loans. | |||
[6] | Home loans includes $5.5 billion and direct/indirect consumer includes $63 million of nonperforming loans. | |||
[7] | PCI loan amounts are shown gross of the valuation allowance. | |||
[8] | Consumer loans accounted for under the fair value option were residential mortgage loans of $2.2 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.8 billion and non-U.S. commercial loans of $6.2 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | |||
[9] | Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | |||
[10] | Includes $4.7 billion of pay option loans. The Corporation no longer originates this product. | |||
[11] | Excludes $2.2 billion of loans accounted for under the fair value option | |||
[12] | Excludes $1.0 billion of loans accounted for under the fair value option | |||
[13] | Includes $6.1 billion of pay option loans. The Corporation no longer originates this product. | |||
[14] | Total outstandings includes non-U.S. residential mortgage loans of $87 million | |||
[15] | Total outstandings includes non-U.S. residential mortgage loans of $93 million. | |||
[16] | Excludes PCI loans. | |||
[17] | Total outstandings includes pay option loans of $5.2 billion. The Corporation no longer originates this product. | |||
[18] | Total outstandings includes pay option loans of $6.7 billion. The Corporation no longer originates this product. | |||
[19] | Total outstandings includes dealer financial services loans of $39.5 billion, consumer lending loans of $3.1 billion, U.S. securities-based lending loans of $30.4 billion, non-U.S. consumer loans of $5.7 billion, student loans of $4.3 billion and other consumer loans of $1.0 billion. | |||
[20] | Total outstandings includes dealer financial services loans of $35.9 billion, consumer lending loans of $4.7 billion, U.S. securities-based lending loans of $28.3 billion, non-U.S. consumer loans of $8.3 billion, student loans of $4.8 billion and other consumer loans of $1.2 billion. | |||
[21] | Total outstandings includes consumer finance loans of $1.2 billion, consumer leases of $492 million, consumer overdrafts of $175 million and other non-U.S. consumer loans of $5 million | |||
[22] | Total outstandings includes consumer finance loans of $1.4 billion, consumer leases of $34 million, consumer overdrafts of $177 million and other non-U.S. consumer loans of $5 million. | |||
[23] | 65 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | |||
[24] | 87 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | |||
[25] | Excludes $8.0 billion of loans accounted for under the fair value option. | |||
[26] | Total outstandings includes U.S. commercial real estate loans of $43.5 billion and non-U.S. commercial real estate loans of $1.4 billion. | |||
[27] | Total outstandings includes U.S. commercial real estate loans of $37.2 billion and non-U.S. commercial real estate loans of $1.5 billion. | |||
[28] | U.S. small business commercial includes $295 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At September 30, 2013, 99 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | |||
[29] | U.S. small business commercial includes $366 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2012, 98 percent of the balances where internal credit metrics are used was current or less than 30 days past due. |
Outstanding_Loans_and_Leases_N
Outstanding Loans and Leases - Nonperforming (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Home Equity Loans Reclassified to Nonperforming | $1,300,000,000 | $1,500,000,000 | ||
Nonperforming Loans and Leases | 19,366,000,000 | [1] | 22,655,000,000 | [1] |
Accruing Past Due 90 Days or More | 19,874,000,000 | 24,582,000,000 | ||
Nonaccruing Troubled Debt Restructurings Excluded from Nonperforming Loans | 356,000,000 | 521,000,000 | ||
Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 17,581,000,000 | [1] | 19,431,000,000 | [1] |
Accruing Past Due 90 Days or More | 19,589,000,000 | 24,353,000,000 | ||
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 1,785,000,000 | [1] | 3,224,000,000 | [1] |
Accruing Past Due 90 Days or More | 285,000,000 | 229,000,000 | ||
Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan Receivable Curtailed By Federal Housing Administration | 13,900,000,000 | 17,800,000,000 | ||
Insured Loan Receivable Curtailed And Accruing Interest | 4,100,000,000 | 4,400,000,000 | ||
Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 3,479,000,000 | [1],[2] | 3,193,000,000 | [1],[2] |
Accruing Past Due 90 Days or More | 5,207,000,000 | [2] | 3,984,000,000 | [2] |
Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 9,849,000,000 | [1],[2] | 11,862,000,000 | [1],[2] |
Accruing Past Due 90 Days or More | 12,753,000,000 | [2] | 18,173,000,000 | [2] |
Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 1,417,000,000 | [1] | 1,265,000,000 | [1] |
Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 2,759,000,000 | [1] | 3,017,000,000 | [1] |
Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Accruing Past Due 90 Days or More | 1,049,000,000 | 1,437,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Accruing Past Due 90 Days or More | 142,000,000 | 212,000,000 | ||
Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 59,000,000 | [1] | 92,000,000 | [1] |
Accruing Past Due 90 Days or More | 437,000,000 | 545,000,000 | ||
Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 18,000,000 | [1] | 2,000,000 | [1] |
Accruing Past Due 90 Days or More | 1,000,000 | 2,000,000 | ||
Commercial Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 1,059,000,000 | [1] | 1,484,000,000 | [1] |
Accruing Past Due 90 Days or More | 57,000,000 | 65,000,000 | ||
Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 86,000,000 | [1] | 68,000,000 | [1] |
Accruing Past Due 90 Days or More | 3,000,000 | |||
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 488,000,000 | [1] | 1,513,000,000 | [1] |
Accruing Past Due 90 Days or More | 76,000,000 | 29,000,000 | ||
Commercial Lease Financing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 49,000,000 | [1] | 44,000,000 | [1] |
Accruing Past Due 90 Days or More | 66,000,000 | 15,000,000 | ||
U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonperforming Loans and Leases | 103,000,000 | [1] | 115,000,000 | [1] |
Accruing Past Due 90 Days or More | 83,000,000 | 120,000,000 | ||
Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge | 1,900,000,000 | |||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge, Current with Contractual Payments | 1,000,000,000 | |||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge, 90 Or More Days Past Due | $742,000,000 | |||
Discharged More Than Twelve Months Ago [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge, Current with Contractual Payments, Percent | 70.00% | |||
Discharged More Than Twenty Four Months Ago [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge, Current with Contractual Payments, Percent | 50.00% | |||
[1] | Nonperforming loan balances did not include nonaccruing TDRs removed from the PCI loan portfolio prior to January 1, 2010 of $356 million and $521 million at September 30, 2013 and December 31, 2012 | |||
[2] | Residential mortgage loans in the Core and Legacy Assets & Servicing portfolios accruing past due 90 days or more are fully-insured loans. At September 30, 2013 and December 31, 2012, residential mortgage includes $13.9 billion and $17.8 billion of loans on which interest has been curtailed by the FHA, and therefore are no longer accruing interest, although principal is still insured, and $4.1 billion and $4.4 billion of loans on which interest is still accruing |
Outstanding_Loans_and_Leases_C
Outstanding Loans and Leases - Credit Quality Indicators (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | $934,392,000,000 | $907,819,000,000 | ||
Financing Receivable, Acquired with Deteriorated Credit Quality | 27,168,000,000 | [1] | 26,118,000,000 | [1] |
Loans Receivable, Fair Value Disclosure | 10,196,000,000 | 9,002,000,000 | ||
Ninety Days Or More Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 3.31% | [2] | 4.30% | [3] |
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 394,746,000,000 | 354,380,000,000 | ||
Loans Receivable, Fair Value Disclosure | 8,010,000,000 | [4] | 7,997,000,000 | [5] |
Consumer Including Residential Mortgage Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 539,646,000,000 | 553,439,000,000 | ||
Financing Receivable, Acquired with Deteriorated Credit Quality | 27,168,000,000 | [1] | 26,118,000,000 | [1] |
Loans Receivable, Fair Value Disclosure | 2,186,000,000 | [4] | 1,005,000,000 | [5] |
Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 20,064,000,000 | [6],[7] | 17,451,000,000 | [8],[9] |
Loans Receivable, Fair Value Disclosure | 2,200,000,000 | 1,000,000,000 | ||
Residential Mortgage [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 87,000,000 | 93,000,000 | ||
Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 177,508,000,000 | [10],[11],[6] | 170,116,000,000 | [10],[12],[8] |
Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 55,924,000,000 | [10],[6] | 65,362,000,000 | [10],[8] |
Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 7,104,000,000 | [6] | 8,667,000,000 | [8] |
Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 55,716,000,000 | [10],[6] | 60,851,000,000 | [10],[8] |
Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 33,833,000,000 | [10],[6] | 38,622,000,000 | [10],[8] |
Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 90,280,000,000 | 94,835,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 11,083,000,000 | 11,697,000,000 | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | Percent of Balances Current or Less Than 30 Days Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 98.00% | 97.00% | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | Thirty To Eighty Nine Days Past Due Member | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 1.00% | 1.00% | ||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | Ninety Days Or More Past Due [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage Of Outstandings By Aging | 1.00% | 2.00% | ||
Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 84,035,000,000 | [13] | 83,205,000,000 | [14] |
Securities based lending overcollateralized | 36,000,000,000 | 36,500,000,000 | ||
Loan Type No Longer Originated By Entity | 4,300,000,000 | 4,800,000,000 | ||
Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,913,000,000 | [15],[16] | 1,628,000,000 | [17],[18] |
Percent of Portfolio From Exited Business | 65.00% | 87.00% | ||
Commercial Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 211,114,000,000 | [19] | 197,126,000,000 | [19] |
Loans Receivable, Fair Value Disclosure | 1,800,000,000 | 2,300,000,000 | ||
Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 92,945,000,000 | [19] | 74,184,000,000 | [19] |
Loans Receivable, Fair Value Disclosure | 6,200,000,000 | 5,700,000,000 | ||
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 44,940,000,000 | [19],[20] | 38,637,000,000 | [19],[21] |
Commercial Lease Financing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 24,589,000,000 | [19] | 23,843,000,000 | [19] |
U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 13,148,000,000 | 12,593,000,000 | ||
U.S. Small Business Commercial | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 13,148,000,000 | [19],[22] | 12,593,000,000 | [19],[23] |
Percentage of internal credit metrics including delinquency status | 99.00% | 98.00% | ||
Pay option [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 4,700,000,000 | [6],[7] | 6,100,000,000 | [6],[7] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 10,760,000,000 | [24],[6],[7] | 8,581,000,000 | [24],[8],[9] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 92,172,000,000 | [10],[24],[6] | 80,585,000,000 | [10],[24],[8] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 22,199,000,000 | [10],[24],[6] | 20,613,000,000 | [10],[24],[8] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 1,963,000,000 | [24],[6] | 2,074,000,000 | [24],[8] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 44,827,000,000 | [10],[24],[6] | 44,971,000,000 | [10],[24],[8] |
Refreshed Loan To Value Less Than Ninety Percent [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 15,827,000,000 | [10],[24],[6] | 15,922,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 3,011,000,000 | [24],[6],[7] | 2,368,000,000 | [24],[8],[9] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 6,983,000,000 | [10],[24],[6] | 8,891,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 4,526,000,000 | [10],[24],[6] | 5,097,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 668,000,000 | [24],[6] | 805,000,000 | [24],[8] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 4,374,000,000 | [10],[24],[6] | 5,825,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Ninety Percent But Less Than Hundred Percent [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 4,290,000,000 | [10],[24],[6] | 4,507,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 6,293,000,000 | [24],[6],[7] | 6,502,000,000 | [24],[8],[9] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 8,212,000,000 | [10],[24],[6] | 12,984,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 10,466,000,000 | [10],[24],[6] | 16,454,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 4,473,000,000 | [24],[6] | 5,788,000,000 | [24],[8] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 6,515,000,000 | [10],[24],[6] | 10,055,000,000 | [10],[24],[8] |
Refreshed Loan To Value Greater Than Hundred Percent [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 13,716,000,000 | [10],[24],[6] | 18,193,000,000 | [10],[24],[8] |
Fully Insured Loans [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 70,141,000,000 | [10],[25],[6] | 67,656,000,000 | [10],[25],[8] |
Fully Insured Loans [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 18,733,000,000 | [10],[25],[6] | 23,198,000,000 | [10],[25],[8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 10,871,000,000 | [6],[7] | 8,647,000,000 | [8],[9] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 6,032,000,000 | [10],[6] | 6,366,000,000 | [10],[8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 11,770,000,000 | [10],[6] | 14,320,000,000 | [10],[8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 1,296,000,000 | [6] | 1,989,000,000 | [8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 2,413,000,000 | [10],[6] | 2,586,000,000 | [10],[8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 4,478,000,000 | [10],[6] | 5,411,000,000 | [10],[8] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 5,112,000,000 | 6,188,000,000 | ||
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,293,000,000 | 1,896,000,000 | ||
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 571,000,000 | [15] | 668,000,000 | [17] |
Refreshed Fico Score Less Than Six Hundred Twenty [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 235,000,000 | [19],[22],[26] | 400,000,000 | [19],[23],[26] |
Refreshed Fico Score between 620 and 680 [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 3,363,000,000 | [6],[7] | 2,712,000,000 | [8],[9] |
Refreshed Fico Score between 620 and 680 [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 7,955,000,000 | [10],[6] | 8,561,000,000 | [10],[8] |
Refreshed Fico Score between 620 and 680 [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 5,919,000,000 | [10],[6] | 6,157,000,000 | [10],[8] |
Refreshed Fico Score between 620 and 680 [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 1,272,000,000 | [6] | 1,529,000,000 | [8] |
Refreshed Fico Score between 620 and 680 [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 4,187,000,000 | [10],[6] | 4,500,000,000 | [10],[8] |
Refreshed Fico Score between 620 and 680 [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 5,240,000,000 | [10],[6] | 5,921,000,000 | [10],[8] |
Refreshed Fico Score between 620 and 680 [Member] | Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 13,106,000,000 | 13,947,000,000 | ||
Refreshed Fico Score between 620 and 680 [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 3,264,000,000 | 3,367,000,000 | ||
Refreshed Fico Score between 620 and 680 [Member] | Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 273,000,000 | [15] | 301,000,000 | [17] |
Refreshed Fico Score between 620 and 680 [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 548,000,000 | [19],[22],[26] | 580,000,000 | [19],[23],[26] |
Refreshed Fico Score between 680 and 740 [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 3,056,000,000 | [6],[7] | 2,976,000,000 | [8],[9] |
Refreshed Fico Score between 680 and 740 [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 25,097,000,000 | [10],[6] | 25,141,000,000 | [10],[8] |
Refreshed Fico Score between 680 and 740 [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 8,133,000,000 | [10],[6] | 8,611,000,000 | [10],[8] |
Refreshed Fico Score between 680 and 740 [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 2,018,000,000 | [6] | 2,299,000,000 | [8] |
Refreshed Fico Score between 680 and 740 [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 11,840,000,000 | [10],[6] | 12,625,000,000 | [10],[8] |
Refreshed Fico Score between 680 and 740 [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 9,414,000,000 | [10],[6] | 10,395,000,000 | [10],[8] |
Refreshed Fico Score between 680 and 740 [Member] | Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 36,054,000,000 | 37,167,000,000 | ||
Refreshed Fico Score between 680 and 740 [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 10,087,000,000 | 9,592,000,000 | ||
Refreshed Fico Score between 680 and 740 [Member] | Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 205,000,000 | [15] | 232,000,000 | [17] |
Refreshed Fico Score between 680 and 740 [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,594,000,000 | [19],[22],[26] | 1,553,000,000 | [19],[23],[26] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 2,774,000,000 | [6],[7] | 3,116,000,000 | [8],[9] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Residential Mortgage [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 68,283,000,000 | [10],[6] | 62,392,000,000 | [10],[8] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Residential Mortgage [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 11,369,000,000 | [10],[6] | 13,076,000,000 | [10],[8] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Acquired with Deteriorated Credit Quality | 2,518,000,000 | [6] | 2,850,000,000 | [8] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Home Equity [Member] | Core Sub Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 37,276,000,000 | [10],[6] | 41,140,000,000 | [10],[8] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Home Equity [Member] | Legacy Asset Servicing Sub Portfolio Segment Excluding Countrywide PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 14,701,000,000 | [10],[6] | 16,895,000,000 | [10],[8] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 36,008,000,000 | 37,533,000,000 | ||
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 27,419,000,000 | 25,164,000,000 | ||
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 193,000,000 | [15] | 212,000,000 | [17] |
Refreshed Fico Score Greater Than Or Equal To 740 [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 2,820,000,000 | [19],[22],[26] | 2,496,000,000 | [19],[23],[26] |
Refreshed FICO score other internal credit metrics [Member] | Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 11,083,000,000 | [27],[28],[29] | 11,697,000,000 | [30],[31],[32] |
Refreshed FICO score other internal credit metrics [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 41,972,000,000 | [27],[28],[29] | 43,186,000,000 | [30],[31],[32] |
Refreshed FICO score other internal credit metrics [Member] | Other consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 671,000,000 | [15],[27],[28],[29] | 215,000,000 | [17],[30],[31],[32] |
Refreshed FICO score other internal credit metrics [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 6,247,000,000 | [19],[22],[26],[33] | 5,301,000,000 | [19],[23],[26],[33] |
Pass [Member] | Commercial Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 203,620,000,000 | [19] | 189,602,000,000 | [19] |
Pass [Member] | Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 91,399,000,000 | [19] | 72,688,000,000 | [19] |
Pass [Member] | Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 43,135,000,000 | [19] | 34,968,000,000 | [19] |
Pass [Member] | Commercial Lease Financing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 23,500,000,000 | [19] | 22,874,000,000 | [19] |
Pass [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,313,000,000 | [19],[22] | 1,690,000,000 | [19],[23] |
Risk Ratings Criticized [Member] | Commercial Credit Card Financing Receivable [Member] | UNITED STATES | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 7,494,000,000 | [19] | 7,524,000,000 | [19] |
Risk Ratings Criticized [Member] | Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,546,000,000 | [19] | 1,496,000,000 | [19] |
Risk Ratings Criticized [Member] | Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,805,000,000 | [19] | 3,669,000,000 | [19] |
Risk Ratings Criticized [Member] | Commercial Lease Financing [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 1,089,000,000 | [19] | 969,000,000 | [19] |
Risk Ratings Criticized [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | 391,000,000 | [19],[22] | 573,000,000 | [19],[23] |
Criticized Risk Rating Evaluated Using FICO or Internal Credit Metrics [Member] | U.S. Small Business Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases | $295,000,000 | $366,000,000 | ||
[1] | PCI loan amounts are shown gross of the valuation allowance. | |||
[2] | Home loans includes fully-insured loans of $18.0 billion. | |||
[3] | Home loans includes fully-insured loans of $22.2 billion. | |||
[4] | Consumer loans accounted for under the fair value option were residential mortgage loans of $2.2 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.8 billion and non-U.S. commercial loans of $6.2 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | |||
[5] | Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | |||
[6] | Excludes $2.2 billion of loans accounted for under the fair value option | |||
[7] | Includes $4.7 billion of pay option loans. The Corporation no longer originates this product. | |||
[8] | Excludes $1.0 billion of loans accounted for under the fair value option | |||
[9] | Includes $6.1 billion of pay option loans. The Corporation no longer originates this product. | |||
[10] | Excludes PCI loans. | |||
[11] | Total outstandings includes non-U.S. residential mortgage loans of $87 million | |||
[12] | Total outstandings includes non-U.S. residential mortgage loans of $93 million. | |||
[13] | Total outstandings includes dealer financial services loans of $39.5 billion, consumer lending loans of $3.1 billion, U.S. securities-based lending loans of $30.4 billion, non-U.S. consumer loans of $5.7 billion, student loans of $4.3 billion and other consumer loans of $1.0 billion. | |||
[14] | Total outstandings includes dealer financial services loans of $35.9 billion, consumer lending loans of $4.7 billion, U.S. securities-based lending loans of $28.3 billion, non-U.S. consumer loans of $8.3 billion, student loans of $4.8 billion and other consumer loans of $1.2 billion. | |||
[15] | 65 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | |||
[16] | Total outstandings includes consumer finance loans of $1.2 billion, consumer leases of $492 million, consumer overdrafts of $175 million and other non-U.S. consumer loans of $5 million | |||
[17] | 87 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited. | |||
[18] | Total outstandings includes consumer finance loans of $1.4 billion, consumer leases of $34 million, consumer overdrafts of $177 million and other non-U.S. consumer loans of $5 million. | |||
[19] | Excludes $8.0 billion of loans accounted for under the fair value option. | |||
[20] | Total outstandings includes U.S. commercial real estate loans of $43.5 billion and non-U.S. commercial real estate loans of $1.4 billion. | |||
[21] | Total outstandings includes U.S. commercial real estate loans of $37.2 billion and non-U.S. commercial real estate loans of $1.5 billion. | |||
[22] | U.S. small business commercial includes $295 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At September 30, 2013, 99 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | |||
[23] | U.S. small business commercial includes $366 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2012, 98 percent of the balances where internal credit metrics are used was current or less than 30 days past due. | |||
[24] | Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. | |||
[25] | Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. | |||
[26] | Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. | |||
[27] | Other internal credit metrics may include delinquency status, geography or other factors | |||
[28] | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At September 30, 2013, 98 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and one percent was 90 days or more past due. | |||
[29] | Direct/indirect consumer includes $36.0 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.3 billion of loans the Corporation no longer originates. | |||
[30] | Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2012, 97 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and two percent was 90 days or more past due. | |||
[31] | Other internal credit metrics may include delinquency status, geography or other factors. | |||
[32] | Direct/indirect consumer includes $36.5 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.8 billion of loans the Corporation no longer originates. | |||
[33] | Other internal credit metrics may include delinquency status, application scores, geography or other factors. |
Outstanding_Loans_and_Leases_H
Outstanding Loans and Leases - Home Loans Impaired Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Additional Troubled Debt Restructurings Recognized [Member] | Additional Troubled Debt Restructurings Recognized [Member] | Additional Troubled Debt Restructurings Recognized [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | Fully Insured Loans [Member] | |||||||||||||||||||||||||||||||||||||||||
Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable With Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Financing Receivable Without Related Allowance [Member] | Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Impaired [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings Carrying Value | $3,094,000,000 | [1] | $6,939,000,000 | [1] | $9,578,000,000 | [1] | $8,964,000,000 | [1] | $2,947,000,000 | [1] | $6,250,000,000 | [1] | $9,153,000,000 | [1] | $8,179,000,000 | [1] | $147,000,000 | [1] | $689,000,000 | [1] | $425,000,000 | [1] | $785,000,000 | [1] | $3,700,000,000 | $351,000,000 | [2] | $3,465,000,000 | [2] | $1,265,000,000 | [3] | $3,465,000,000 | [3] | $280,000,000 | [2] | $2,877,000,000 | [2] | $1,033,000,000 | [3] | $2,877,000,000 | [3] | $71,000,000 | [2] | $588,000,000 | [2] | $232,000,000 | [3] | $588,000,000 | [3] | $1,800,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings, Non-performing With No Change in Repayment Terms At Time of Discharge | 1,900,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings Carrying Value Loans Discharged, Percent | 21.00% | 33.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Toubled Debt Restructuring Carrying Value, Cumulative to Date Percentage | 46.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Acquired Through Foreclosure | 546,000,000 | 546,000,000 | 650,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid Principal Balance | 36,321,000,000 | 36,321,000,000 | 34,449,000,000 | 13,793,000,000 | 13,793,000,000 | 14,223,000,000 | 22,528,000,000 | 22,528,000,000 | 20,226,000,000 | 4,071,000,000 | 4,071,000,000 | 3,880,000,000 | 1,069,000,000 | 1,069,000,000 | 1,256,000,000 | 3,002,000,000 | 3,002,000,000 | 2,624,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Value | 30,392,000,000 | 30,392,000,000 | 28,125,000,000 | 13,227,000,000 | 13,227,000,000 | 13,158,000,000 | 17,165,000,000 | 17,165,000,000 | 14,967,000,000 | 2,214,000,000 | 2,214,000,000 | 2,125,000,000 | 886,000,000 | 886,000,000 | 1,022,000,000 | 1,328,000,000 | 1,328,000,000 | 1,103,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Allowance | 1,141,000,000 | 1,141,000,000 | 1,252,000,000 | 1,141,000,000 | 1,141,000,000 | 1,252,000,000 | 343,000,000 | 343,000,000 | 448,000,000 | 343,000,000 | 343,000,000 | 448,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average Carrying Value | 31,011,000,000 | 23,041,000,000 | 30,784,000,000 | 21,095,000,000 | 14,027,000,000 | 11,435,000,000 | 14,221,000,000 | 11,361,000,000 | 16,984,000,000 | 11,606,000,000 | 16,563,000,000 | 9,734,000,000 | 2,188,000,000 | 1,914,000,000 | 2,150,000,000 | 1,789,000,000 | 902,000,000 | 1,095,000,000 | 942,000,000 | 1,186,000,000 | 1,286,000,000 | 819,000,000 | 1,208,000,000 | 603,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income Recognized | $325,000,000 | [4] | $185,000,000 | [4] | $887,000,000 | [4] | $544,000,000 | [4] | $173,000,000 | [4] | $97,000,000 | [4] | $451,000,000 | [4] | $305,000,000 | [4] | $152,000,000 | [4] | $88,000,000 | [4] | $436,000,000 | [4] | $239,000,000 | [4] | $28,000,000 | [4] | $25,000,000 | [4] | $86,000,000 | [4] | $66,000,000 | [4] | $9,000,000 | [4] | $12,000,000 | [4] | $31,000,000 | [4] | $34,000,000 | [4] | $19,000,000 | [4] | $13,000,000 | [4] | $55,000,000 | [4] | $32,000,000 | [4] | ||||||||||||||||||||||||||||||||||||||||||||
[1] | TDRs entered into during the three and nine months ended September 30, 2013 include residential mortgage modifications with principal forgiveness of $118 million and $462 million. TDRs entered into during the three and nine months ended September 30, 2012 include residential mortgage modifications with principal forgiveness of $294 million and $462 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the three months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the three months ended September 30, 2013, home loans of $196 million, or 56 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the nine months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the nine months ended September 30, 2013, home loans of $671 million, or 53 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. |
Outstanding_Loans_and_Leases_H1
Outstanding Loans and Leases - Home Loan TDRs (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Home Loans [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Unpaid Principal Balance | $3,495 | [1] | $9,393 | [1] | $11,001 | [1] | $11,823 | [1] |
Carrying Value | 3,094 | [1] | 6,939 | [1] | 9,578 | [1] | 8,964 | [1] |
Troubled Debt Restructurings Pre Modification Interest Rate | 5.22% | [1] | 5.51% | [1] | 5.35% | [1] | 5.48% | [1] |
Troubled Debt Restructuring Post Modification Interest Rate | 4.51% | [1] | 4.34% | [1] | 4.34% | [1] | 4.30% | [1] |
Troubled Debt Restructuring Net Charge Offs | 100 | [1] | 608 | [1] | 308 | [1] | 854 | [1] |
Troubled Debt Restructurings Modifications Entering Default | 1,687 | 844 | 4,967 | 1,916 | ||||
Loan Restructuring, Trial Modifications | 1,208 | 678 | 3,150 | 979 | ||||
Home Loans [Member] | Government Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 420 | 137 | 1,268 | 290 | ||||
Troubled Debt Restructurings Modifications Entering Default | 86 | 29 | 246 | 173 | ||||
Home Loans [Member] | Government Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 396 | 104 | 1,154 | 218 | ||||
Home Loans [Member] | Government Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 6 | 31 | 46 | 54 | ||||
Home Loans [Member] | Government Modifications [Member] | Other Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 18 | [2] | 2 | [2] | 68 | [2] | 18 | [2] |
Home Loans [Member] | Proprietary Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 877 | 1,389 | 3,532 | 2,509 | ||||
Troubled Debt Restructurings Modifications Entering Default | 185 | 137 | 735 | 764 | ||||
Home Loans [Member] | Proprietary Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 777 | 1,168 | 2,879 | 2,082 | ||||
Home Loans [Member] | Proprietary Modifications [Member] | Capitlization Of Past Due Amounts [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 26 | 58 | 98 | 95 | ||||
Home Loans [Member] | Proprietary Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 64 | 129 | 452 | 257 | ||||
Home Loans [Member] | Proprietary Modifications [Member] | Other Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 10 | [2] | 34 | [2] | 103 | [2] | 75 | [2] |
Home Loans [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Modifications Entering Default | 208 | [3] | 836 | [3] | ||||
Home Loans [Member] | Trial Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Loan Restructuring, Trial Modifications | 1,446 | 1,948 | 3,513 | 2,700 | ||||
Residential Mortgage [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Unpaid Principal Balance | 3,275 | [1] | 7,823 | [1] | 10,295 | [1] | 10,064 | [1] |
Carrying Value | 2,947 | [1] | 6,250 | [1] | 9,153 | [1] | 8,179 | [1] |
Troubled Debt Restructurings Pre Modification Interest Rate | 5.22% | [1] | 5.66% | [1] | 5.34% | [1] | 5.62% | [1] |
Troubled Debt Restructuring Post Modification Interest Rate | 4.52% | [1] | 4.31% | [1] | 4.34% | [1] | 4.29% | [1] |
Troubled Debt Restructuring Net Charge Offs | 64 | [1] | 129 | [1] | 169 | [1] | 277 | [1] |
Troubled Debt Restructuring Modifications, Principal Forgiveness | 118 | 294 | 462 | 462 | ||||
Troubled Debt Restructurings Modifications Entering Default | 1,681 | 833 | 4,926 | 1,883 | ||||
Loan Restructuring, Trial Modifications | 1,205 | 671 | 3,142 | 963 | ||||
Residential Mortgage [Member] | Government Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 415 | 105 | 1,227 | 205 | ||||
Troubled Debt Restructurings Modifications Entering Default | 86 | 27 | 244 | 167 | ||||
Residential Mortgage [Member] | Government Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 393 | 83 | 1,127 | 157 | ||||
Residential Mortgage [Member] | Government Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 4 | 20 | 32 | 30 | ||||
Residential Mortgage [Member] | Government Modifications [Member] | Other Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 18 | [2] | 2 | [2] | 68 | [2] | 18 | [2] |
Residential Mortgage [Member] | Proprietary Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 857 | 1,363 | 3,451 | 2,459 | ||||
Troubled Debt Restructurings Modifications Entering Default | 185 | 135 | 731 | 753 | ||||
Residential Mortgage [Member] | Proprietary Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 764 | 1,153 | 2,829 | 2,054 | ||||
Residential Mortgage [Member] | Proprietary Modifications [Member] | Capitlization Of Past Due Amounts [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 26 | 58 | 98 | 95 | ||||
Residential Mortgage [Member] | Proprietary Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 57 | 124 | 435 | 248 | ||||
Residential Mortgage [Member] | Proprietary Modifications [Member] | Other Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 10 | [2] | 28 | [2] | 89 | [2] | 62 | [2] |
Residential Mortgage [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Modifications Entering Default | 205 | [3] | 809 | [3] | ||||
Residential Mortgage [Member] | Trial Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Loan Restructuring, Trial Modifications | 1,395 | 1,905 | 3,442 | 2,638 | ||||
Home Equity [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Unpaid Principal Balance | 220 | [1] | 1,570 | [1] | 706 | [1] | 1,759 | [1] |
Carrying Value | 147 | [1] | 689 | [1] | 425 | [1] | 785 | [1] |
Troubled Debt Restructurings Pre Modification Interest Rate | 5.58% | [1] | 4.69% | [1] | 5.55% | [1] | 4.69% | [1] |
Troubled Debt Restructuring Post Modification Interest Rate | 4.33% | [1] | 4.54% | [1] | 4.17% | [1] | 4.32% | [1] |
Troubled Debt Restructuring Net Charge Offs | 36 | [1] | 479 | [1] | 139 | [1] | 577 | [1] |
Troubled Debt Restructuring Modifications, Principal Forgiveness | 2 | 5 | ||||||
Troubled Debt Restructurings Modifications Entering Default | 6 | 11 | 41 | 33 | ||||
Loan Restructuring, Trial Modifications | 3 | 7 | 8 | 16 | ||||
Home Equity [Member] | Government Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 5 | 32 | 41 | 85 | ||||
Troubled Debt Restructurings Modifications Entering Default | 0 | 2 | 2 | 6 | ||||
Home Equity [Member] | Government Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 3 | 21 | 27 | 61 | ||||
Home Equity [Member] | Government Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 2 | 11 | 14 | 24 | ||||
Home Equity [Member] | Proprietary Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 20 | 26 | 81 | 50 | ||||
Troubled Debt Restructurings Modifications Entering Default | 0 | 2 | 4 | 11 | ||||
Home Equity [Member] | Proprietary Modifications [Member] | Contractual Interest Rate Reduction [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 13 | 15 | 50 | 28 | ||||
Home Equity [Member] | Proprietary Modifications [Member] | Principal and/or Interest Forbearance [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 7 | 5 | 17 | 9 | ||||
Home Equity [Member] | Proprietary Modifications [Member] | Other Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 0 | [2] | 6 | [2] | 14 | [2] | 13 | [2] |
Home Equity [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Troubled Debt Restructurings Modifications Entering Default | 3 | [3] | 27 | [3] | ||||
Home Equity [Member] | Trial Modifications [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Loan Restructuring, Trial Modifications | 51 | 43 | 71 | 62 | ||||
Loans Discharged in Chapter Seven Bankruptcy [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 3,700 | |||||||
Loans Discharged in Chapter Seven Bankruptcy [Member] | Home Loans [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 351 | [4] | 3,465 | [4] | 1,265 | [5] | 3,465 | [5] |
Loans Discharged in Chapter Seven Bankruptcy [Member] | Residential Mortgage [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 280 | [4] | 2,877 | [4] | 1,033 | [5] | 2,877 | [5] |
Loans Discharged in Chapter Seven Bankruptcy [Member] | Home Equity [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | 71 | [4] | 588 | [4] | 232 | [5] | 588 | [5] |
Current or Less Than Sixty Days Past Due [Member] | Loans Discharged in Chapter Seven Bankruptcy [Member] | Residential Mortgage [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Carrying Value | $196 | $671 | ||||||
Loans Discharged in Chapter Seven Bankruptcy, Percent | 56.00% | 53.00% | ||||||
[1] | TDRs entered into during the three and nine months ended September 30, 2013 include residential mortgage modifications with principal forgiveness of $118 million and $462 million. TDRs entered into during the three and nine months ended September 30, 2012 include residential mortgage modifications with principal forgiveness of $294 million and $462 million | |||||||
[2] | Includes other modifications such as term or payment extensions and repayment plans. | |||||||
[3] | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. | |||||||
[4] | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the three months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the three months ended September 30, 2013, home loans of $196 million, or 56 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. | |||||||
[5] | Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs in accordance with regulatory guidance implemented in the third quarter of 2012. The amount for the nine months ended September 30, 2012 represents the cumulative impact upon adoption of the regulatory guidance. For the nine months ended September 30, 2013, home loans of $671 million, or 53 percent of loans discharged in Chapter 7 bankruptcy, were current or less than 60 days past due. |
Outstanding_Loans_and_Leases_C1
Outstanding Loans and Leases - Credit Card and Other TDRs (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable Modifications Post Modification Percentage Of Balances Current Or Less Than Thirty Days Past Due | 80.04% | 80.04% | 78.58% | |||||||
Internal Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | $1,370,000,000 | $1,370,000,000 | $2,456,000,000 | |||||||
External Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 839,000,000 | 839,000,000 | 1,216,000,000 | |||||||
Other Program [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 207,000,000 | 207,000,000 | 274,000,000 | |||||||
Consumer Credit Card Financing Receivable [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Unpaid Principal Balance | 179,000,000 | 208,000,000 | 420,000,000 | 594,000,000 | ||||||
Carrying Value | 180,000,000 | [1] | 215,000,000 | [1] | 419,000,000 | [1] | 609,000,000 | [1] | ||
Pre Modification Interest Rate | 19.65% | 21.00% | 19.51% | 20.26% | ||||||
Post Modification Interest Rate | 3.85% | 3.73% | 4.13% | 4.41% | ||||||
Net Charge-Offs | 8,000,000 | 8,000,000 | 106,000,000 | 137,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 1,706,000,000 | 1,706,000,000 | 2,856,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 1,716,000,000 | [1] | 1,716,000,000 | [1] | 2,871,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 370,000,000 | 370,000,000 | 719,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 1,926,000,000 | 3,727,000,000 | 2,310,000,000 | 4,380,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 30,000,000 | [2] | 58,000,000 | [2] | 108,000,000 | [2] | 204,000,000 | [2] | ||
Financing Receivable, Modifications, Recorded Investment | 1,716,000,000 | 1,716,000,000 | 2,871,000,000 | |||||||
Financing Receivable Modifications Post Modification Percentage Of Balances Current Or Less Than Thirty Days Past Due | 83.74% | 83.74% | 81.48% | |||||||
Unpaid Principal Balance | 100,000,000 | 102,000,000 | 237,000,000 | 342,000,000 | ||||||
Carrying Value | 102,000,000 | [1] | 105,000,000 | [1] | 240,000,000 | [1] | 346,000,000 | [1] | ||
Pre Modification Interest Rate | 16.86% | 17.37% | 16.88% | 17.73% | ||||||
Post Modification Interest Rate | 5.70% | 6.32% | 5.96% | 6.37% | ||||||
Net Charge-Offs | 2,000,000 | 2,000,000 | 16,000,000 | 23,000,000 | ||||||
New Loans, Expected Default Rate Within Twelve Months of Modification, Percent | 23.00% | |||||||||
Finance Receivable, Post Modification, Entering Default Status | 11,000,000 | 40,000,000 | 49,000,000 | 173,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 246,000,000 | 246,000,000 | 311,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 250,000,000 | [1] | 250,000,000 | [1] | 316,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 161,000,000 | 161,000,000 | 198,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 254,000,000 | 447,000,000 | 274,000,000 | 509,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 2,000,000 | [2] | 2,000,000 | [2] | 6,000,000 | [2] | 7,000,000 | [2] | ||
Financing Receivable, Modifications, Recorded Investment | 250,000,000 | 250,000,000 | 316,000,000 | |||||||
Financing Receivable Modifications Post Modification Percentage Of Balances Current Or Less Than Thirty Days Past Due | 49.34% | 49.34% | 43.71% | |||||||
Unpaid Principal Balance | 61,000,000 | 90,000,000 | 138,000,000 | 194,000,000 | ||||||
Carrying Value | 64,000,000 | [1] | 94,000,000 | [1] | 143,000,000 | [1] | 204,000,000 | [1] | ||
Pre Modification Interest Rate | 26.09% | 26.13% | 26.04% | 26.18% | ||||||
Post Modification Interest Rate | 0.67% | 0.77% | 0.87% | 1.05% | ||||||
Net Charge-Offs | 2,000,000 | 4,000,000 | 78,000,000 | 111,000,000 | ||||||
New Loans, Expected Default Rate Within Twelve Months of Modification, Percent | 69.00% | |||||||||
Finance Receivable, Post Modification, Entering Default Status | 60,000,000 | 69,000,000 | 181,000,000 | 228,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | Internal Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Carrying Value | 100,000,000 | 126,000,000 | 221,000,000 | 372,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | Internal Programs [Member] | UNITED STATES | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 1,016,000,000 | 1,016,000,000 | 1,887,000,000 | |||||||
Carrying Value | 62,000,000 | 64,000,000 | 132,000,000 | 221,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | Internal Programs [Member] | Non-U.S. Commercial | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 78,000,000 | 78,000,000 | 99,000,000 | |||||||
Carrying Value | 32,000,000 | 51,000,000 | 73,000,000 | 109,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | External Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Carrying Value | 74,000,000 | 89,000,000 | 185,000,000 | 237,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | External Programs [Member] | UNITED STATES | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 681,000,000 | 681,000,000 | 953,000,000 | |||||||
Carrying Value | 40,000,000 | 41,000,000 | 108,000,000 | 125,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | External Programs [Member] | Non-U.S. Commercial | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 27,000,000 | 27,000,000 | 38,000,000 | |||||||
Carrying Value | 32,000,000 | 43,000,000 | 70,000,000 | 95,000,000 | ||||||
Consumer Credit Card Financing Receivable [Member] | Other Program [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Carrying Value | 6,000,000 | 0 | 13,000,000 | 0 | ||||||
Consumer Credit Card Financing Receivable [Member] | Other Program [Member] | UNITED STATES | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 19,000,000 | 19,000,000 | 31,000,000 | |||||||
Carrying Value | 0 | 0 | ||||||||
Consumer Credit Card Financing Receivable [Member] | Other Program [Member] | Non-U.S. Commercial | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 145,000,000 | 145,000,000 | 179,000,000 | |||||||
Carrying Value | 0 | |||||||||
Direct And Indirect Consumer Financing Receivable [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 432,000,000 | 432,000,000 | 738,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 389,000,000 | [1] | 389,000,000 | [1] | 694,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 104,000,000 | 104,000,000 | 210,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 444,000,000 | 864,000,000 | 543,000,000 | 1,003,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 5,000,000 | [2] | 12,000,000 | [2] | 20,000,000 | [2] | 41,000,000 | [2] | ||
Financing Receivable, Modifications, Recorded Investment | 389,000,000 | 389,000,000 | 694,000,000 | |||||||
Financing Receivable Modifications Post Modification Percentage Of Balances Current Or Less Than Thirty Days Past Due | 84.62% | 84.62% | 83.11% | |||||||
Unpaid Principal Balance | 16,000,000 | 14,000,000 | 41,000,000 | 50,000,000 | ||||||
Carrying Value | 12,000,000 | [1] | 14,000,000 | [1] | 31,000,000 | [1] | 51,000,000 | [1] | ||
Pre Modification Interest Rate | 10.89% | 15.40% | 11.17% | 15.40% | ||||||
Post Modification Interest Rate | 4.68% | 3.90% | 4.90% | 4.14% | ||||||
Net Charge-Offs | 4,000,000 | 2,000,000 | 12,000,000 | 3,000,000 | ||||||
New Loans, Expected Default Rate Within Twelve Months of Modification, Percent | 19.00% | |||||||||
Finance Receivable, Post Modification, Entering Default Status | 1,000,000 | 6,000,000 | 4,000,000 | 31,000,000 | ||||||
Direct And Indirect Consumer Financing Receivable [Member] | Internal Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 215,000,000 | 215,000,000 | 405,000,000 | |||||||
Carrying Value | 4,000,000 | 9,000,000 | 11,000,000 | 34,000,000 | ||||||
Direct And Indirect Consumer Financing Receivable [Member] | External Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 131,000,000 | 131,000,000 | 225,000,000 | |||||||
Carrying Value | 2,000,000 | 5,000,000 | 7,000,000 | 17,000,000 | ||||||
Direct And Indirect Consumer Financing Receivable [Member] | Other Program [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 43,000,000 | 43,000,000 | 64,000,000 | |||||||
Carrying Value | 6,000,000 | 13,000,000 | ||||||||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 2,416,000,000 | 2,416,000,000 | 3,946,000,000 | |||||||
Modifications, Troubled Debt Restructurings, Current or Less than Thirty Days Past Due | 1,900,000,000 | 1,900,000,000 | ||||||||
Other consumer [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 62,000,000 | 62,000,000 | 65,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 61,000,000 | [1] | 61,000,000 | [1] | 65,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 10,000,000 | 10,000,000 | 12,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 61,000,000 | 64,000,000 | 62,000,000 | 67,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 1,000,000 | [2] | 1,000,000 | [2] | 3,000,000 | [2] | 3,000,000 | [2] | ||
Financing Receivable, Modifications, Recorded Investment | 61,000,000 | 61,000,000 | 65,000,000 | |||||||
Financing Receivable Modifications Post Modification Percentage Of Balances Current Or Less Than Thirty Days Past Due | 73.13% | 73.13% | 72.73% | |||||||
Unpaid Principal Balance | 2,000,000 | 2,000,000 | 4,000,000 | 8,000,000 | ||||||
Carrying Value | 2,000,000 | [1] | 2,000,000 | [1] | 5,000,000 | [1] | 8,000,000 | [1] | ||
Pre Modification Interest Rate | 9.10% | 9.91% | 9.35% | 10.01% | ||||||
Post Modification Interest Rate | 6.01% | 6.17% | 5.40% | 6.62% | ||||||
Net Charge-Offs | 0 | 0 | ||||||||
Other consumer [Member] | Internal Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 61,000,000 | 61,000,000 | 65,000,000 | |||||||
Carrying Value | 2,000,000 | 2,000,000 | 5,000,000 | 8,000,000 | ||||||
Other consumer [Member] | External Programs [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | |||||||
Carrying Value | 0 | 0 | 0 | 0 | ||||||
Other consumer [Member] | Other Program [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 0 | |||||||
Carrying Value | ||||||||||
Financing Receivable With Related Allowance [Member] | Consumer Credit Card Financing Receivable [Member] | UNITED STATES | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 1,706,000,000 | 1,706,000,000 | 2,856,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 1,716,000,000 | [1] | 1,716,000,000 | [1] | 2,871,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 370,000,000 | 370,000,000 | 719,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 1,926,000,000 | 3,727,000,000 | 2,310,000,000 | 4,380,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 30,000,000 | [2] | 58,000,000 | [2] | 108,000,000 | [2] | 204,000,000 | [2] | ||
Financing Receivable With Related Allowance [Member] | Consumer Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 246,000,000 | 246,000,000 | 311,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 250,000,000 | [1] | 250,000,000 | [1] | 316,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 161,000,000 | 161,000,000 | 198,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 254,000,000 | 447,000,000 | 274,000,000 | 509,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 2,000,000 | [2] | 2,000,000 | [2] | 6,000,000 | [2] | 7,000,000 | [2] | ||
Financing Receivable With Related Allowance [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 351,000,000 | 351,000,000 | 633,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 352,000,000 | [1] | 352,000,000 | [1] | 636,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 104,000,000 | 104,000,000 | 210,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 406,000,000 | 864,000,000 | 498,000,000 | 1,003,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 5,000,000 | [2] | 12,000,000 | [2] | 20,000,000 | [2] | 41,000,000 | [2] | ||
Financing Receivable With Related Allowance [Member] | Other consumer [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 28,000,000 | 28,000,000 | 30,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 27,000,000 | [1] | 27,000,000 | [1] | 30,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 10,000,000 | 10,000,000 | 12,000,000 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 27,000,000 | 30,000,000 | 28,000,000 | 32,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 1,000,000 | [2] | 0 | [2] | 2,000,000 | [2] | 1,000,000 | [2] | ||
Financing Receivable Without Related Allowance [Member] | Direct And Indirect Consumer Financing Receivable [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 81,000,000 | 81,000,000 | 105,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 37,000,000 | [1] | 37,000,000 | [1] | 58,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 38,000,000 | 0 | 45,000,000 | 0 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||
Financing Receivable Without Related Allowance [Member] | Other consumer [Member] | ||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 34,000,000 | 34,000,000 | 35,000,000 | |||||||
Impaired Financing Receivable, Recorded Investment | 34,000,000 | [1] | 34,000,000 | [1] | 35,000,000 | [1] | ||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | |||||||
Impaired Financing Receivable, Average Recorded Investment | 34,000,000 | 34,000,000 | 34,000,000 | 35,000,000 | ||||||
Impaired Financing Receivable Interest Income Cash Basis and Accrual Method | $0 | [2] | $1,000,000 | [2] | $1,000,000 | [2] | $2,000,000 | [2] | ||
[1] | Includes accrued interest and fees. | |||||||||
[2] | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. |
Outstanding_Loans_and_Leases_I
Outstanding Loans and Leases - Impaired Loans Commercial Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||
Commercial [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Real Estate Acquired Through Foreclosure | $116 | $116 | $250 | ||||||
U.S. Small Business Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 224 | [1] | 224 | [1] | 361 | ||||
Carrying Value | 213 | [1] | 213 | [1] | 317 | ||||
Related Allowance | 45 | [1] | 45 | [1] | 97 | ||||
Average Carrying Value | 218 | [1] | 392 | [1] | 253 | [1] | 433 | [1] | |
Interest Income Recognized | 1 | [1],[2] | 3 | [1],[2] | 5 | [1],[2] | 10 | [1],[2] | |
U.S. Small Business Commercial | Financing Receivable With Related Allowance [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 224 | [1] | 224 | [1] | 361 | ||||
Carrying Value | 213 | [1] | 213 | [1] | 317 | ||||
Related Allowance | 45 | [1] | 45 | [1] | 97 | ||||
Average Carrying Value | 218 | [1] | 392 | [1] | 253 | [1] | 433 | [1] | |
Interest Income Recognized | 1 | [1],[2] | 3 | [1],[2] | 5 | [1],[2] | 10 | [1],[2] | |
Commercial Real Estate [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 1,624 | 1,624 | 3,290 | ||||||
Carrying Value | 1,205 | 1,205 | 2,164 | ||||||
Related Allowance | 74 | 74 | 201 | ||||||
Average Carrying Value | 1,186 | 2,870 | 1,550 | 3,526 | |||||
Interest Income Recognized | 8 | [2] | 7 | [2] | 24 | [2] | 25 | [2] | |
Commercial Real Estate [Member] | Financing Receivable With Related Allowance [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 1,099 | 1,099 | 2,287 | ||||||
Carrying Value | 702 | 702 | 1,262 | ||||||
Related Allowance | 74 | 74 | 201 | ||||||
Average Carrying Value | 661 | 1,552 | 880 | 1,865 | |||||
Interest Income Recognized | 5 | [2] | 3 | [2] | 14 | [2] | 13 | [2] | |
Commercial Real Estate [Member] | Financing Receivable Without Related Allowance [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 525 | 525 | 1,003 | ||||||
Carrying Value | 503 | 503 | 902 | ||||||
Average Carrying Value | 525 | 1,318 | 670 | 1,661 | |||||
Interest Income Recognized | 3 | [2] | 4 | [2] | 10 | [2] | 12 | [2] | |
Commercial Credit Card Financing Receivable [Member] | U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 2,328 | 2,328 | 3,002 | ||||||
Carrying Value | 1,841 | 1,841 | 2,247 | ||||||
Related Allowance | 150 | 150 | 159 | ||||||
Average Carrying Value | 1,885 | 2,570 | 2,049 | 2,805 | |||||
Interest Income Recognized | 12 | [2] | 16 | [2] | 39 | [2] | 51 | [2] | |
Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 286 | 286 | 520 | ||||||
Carrying Value | 97 | 97 | 153 | ||||||
Related Allowance | 17 | 17 | 18 | ||||||
Average Carrying Value | 133 | 190 | 157 | 186 | |||||
Interest Income Recognized | 2 | [2] | 5 | [2] | 3 | [2] | |||
Commercial Credit Card Financing Receivable [Member] | Financing Receivable With Related Allowance [Member] | U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 1,292 | 1,292 | 1,782 | ||||||
Carrying Value | 881 | 881 | 1,138 | ||||||
Related Allowance | 150 | 150 | 159 | ||||||
Average Carrying Value | 928 | 1,457 | 1,051 | 1,727 | |||||
Interest Income Recognized | 5 | [2] | 7 | [2] | 20 | [2] | 25 | [2] | |
Commercial Credit Card Financing Receivable [Member] | Financing Receivable With Related Allowance [Member] | Non-U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 235 | 235 | 280 | ||||||
Carrying Value | 57 | 57 | 33 | ||||||
Related Allowance | 17 | 17 | 18 | ||||||
Average Carrying Value | 68 | 50 | 55 | 56 | |||||
Interest Income Recognized | 1 | [2] | 2 | [2] | 2 | [2] | |||
Commercial Credit Card Financing Receivable [Member] | Financing Receivable Without Related Allowance [Member] | U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 1,036 | 1,036 | 1,220 | ||||||
Carrying Value | 960 | 960 | 1,109 | ||||||
Average Carrying Value | 957 | 1,113 | 998 | 1,078 | |||||
Interest Income Recognized | 7 | [2] | 9 | [2] | 19 | [2] | 26 | [2] | |
Commercial Credit Card Financing Receivable [Member] | Financing Receivable Without Related Allowance [Member] | Non-U.S. Commercial | |||||||||
Financing Receivable, Impaired [Line Items] | |||||||||
Unpaid Principal Balance | 51 | 51 | 240 | ||||||
Carrying Value | 40 | 40 | 120 | ||||||
Average Carrying Value | 65 | 140 | 102 | 130 | |||||
Interest Income Recognized | $1 | [2] | $3 | [2] | $1 | [2] | |||
[1] | Includes U.S. small business commercial renegotiated TDR loans and related allowance. | ||||||||
[2] | Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. |
Outstanding_Loans_and_Leases_C2
Outstanding Loans and Leases - Commercial Loans TDRs (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Commercial [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Unpaid Principal Balance | $668 | $552 | $1,496 | $1,402 | ||||
Carrying Value | 644 | 521 | 1,354 | 1,336 | ||||
Net Charge-Offs | 27 | 6 | 32 | 30 | ||||
Commercial Credit Card Financing Receivable [Member] | U.S. Commercial | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Unpaid Principal Balance | 361 | 152 | 853 | 558 | ||||
Carrying Value | 357 | 143 | 771 | 534 | ||||
Net Charge-Offs | 27 | 0 | 28 | 15 | ||||
Financing Receivable, Modifications, Payment Default, Carrying Value | 128 | 129 | 128 | 129 | ||||
Commercial Credit Card Financing Receivable [Member] | Non-U.S. Commercial | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Unpaid Principal Balance | 22 | 21 | 87 | |||||
Carrying Value | 22 | 7 | 87 | |||||
Net Charge-Offs | ||||||||
Commercial Real Estate [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Unpaid Principal Balance | 305 | 373 | 615 | 737 | ||||
Carrying Value | 284 | 350 | 569 | 695 | ||||
Net Charge-Offs | 5 | 3 | 12 | |||||
Financing Receivable, Modifications, Payment Default, Carrying Value | 269 | 390 | 269 | 390 | ||||
U.S. Small Business Commercial | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Unpaid Principal Balance | 2 | [1] | 5 | [1] | 7 | [1] | 20 | [1] |
Carrying Value | 3 | [1] | 6 | [1] | 7 | [1] | 20 | [1] |
Net Charge-Offs | [1] | 1 | [1] | 1 | [1] | 3 | [1] | |
U.S. Small Business Commercial | U.S. Commercial | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Modifications, Payment Default, Carrying Value | $1 | $28 | $1 | $28 | ||||
[1] | U.S. small business commercial TDRs are comprised of renegotiated small business card loans. |
Outstanding_Loans_and_Leases_P
Outstanding Loans and Leases - Purchased Credit-Impaired Loans (Details) (Consumer Portfolio Segment [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Contractually required payments including interest | $8,274 | $8,274 | ||
Less: Nonaccretable difference | 2,159 | 2,159 | ||
Cash flows expected to be collected | 6,115 | [1] | 6,115 | [1] |
Less: Accretable yield | 1,125 | 1,125 | ||
Fair value of loans acquired | 4,990 | 4,990 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretable Yield | 1,125 | 1,125 | ||
Countrywide [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Less: Accretable yield | 6,683 | 6,683 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretable Yield | 6,775 | 4,644 | ||
Accretion | -303 | -901 | ||
Loans purchased | 0 | 1,125 | ||
Disposals/Transfers | -81 | -219 | ||
Reclassifications to Nonaccretable Difference | 292 | 2,034 | ||
Accretable Yield | $6,683 | $6,683 | ||
[1] | Represents undiscounted expected principal and interest cash flows at acquisition. |
Outstanding_Loans_and_Leases_L
Outstanding Loans and Leases - Loans Held-for-Sale (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Outstanding Loans and Leases [Abstract] | |||
Loans Receivable Held-for-sale, Net | $15,001,000,000 | $19,413,000,000 | |
Proceeds including cash and securities from sales securitizations and paydowns of loans held for sale | -65,500,000,000 | -39,500,000,000 | |
Payments for Origination and Purchases of Loans Held-for-sale | $55,561,000,000 | $39,804,000,000 |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||
Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Home Loans [Member] | Credit Card and Other Consumer [Member] | Credit Card and Other Consumer [Member] | Credit Card and Other Consumer [Member] | Credit Card and Other Consumer [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Purchased Credit Impaired Loans [Member] | Purchased Credit Impaired Loans [Member] | Purchased Credit Impaired Loans [Member] | Purchased Credit Impaired Loans [Member] | Purchased Credit Impaired Loans [Member] | Purchased Credit Impaired Loans [Member] | |||||||||||||||||||||
Home Loans [Member] | Home Loans [Member] | |||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses, Loans Acquired | $248 | $166 | $707 | ($327) | ||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses, beginning balance | 21,235 | 30,288 | 24,179 | 33,783 | 12,396 | 19,964 | 14,933 | 21,079 | 5,671 | 7,024 | 6,140 | 8,569 | 3,168 | 3,300 | 3,106 | 4,135 | 5,536 | 3,234 | 5,536 | |||||||||||||||||||
Loans and Leases Charged Off | -2,329 | -4,693 | -8,141 | -13,884 | -766 | -2,480 | -2,895 | -6,256 | -1,296 | -1,721 | -4,338 | -5,983 | -267 | -492 | -908 | -1,645 | ||||||||||||||||||||||
Recoveries of Loans and Leases Previously Charged Off | 642 | 571 | 1,826 | 2,080 | 243 | 137 | 548 | 400 | 292 | 294 | 941 | 1,131 | 107 | 140 | 337 | 549 | ||||||||||||||||||||||
Net Charge-Offs | -1,687 | -4,122 | -6,315 | -11,804 | -523 | -2,343 | -2,347 | -5,856 | -1,004 | -1,427 | -3,397 | -4,852 | -160 | -352 | -571 | -1,096 | ||||||||||||||||||||||
Write-offs of PCI loans | -443 | -1,705 | -1,595 | -443 | -1,705 | -1,595 | 0 | 0 | 0 | 0 | 0 | 0 | 1,700 | |||||||||||||||||||||||||
Provision for Loan and Lease Losses | 291 | 1,810 | 3,242 | 6,107 | -920 | 617 | -409 | 3,061 | 730 | 960 | 2,694 | 2,893 | 481 | 233 | 957 | 153 | ||||||||||||||||||||||
Other | 36 | [1] | -38 | [1] | -79 | [1] | 148 | [1] | 3 | [1] | 1 | [1] | -69 | [1] | 45 | [1] | 33 | [1] | -36 | [1] | -7 | [1] | 89 | [1] | 0 | [1] | -3 | [1] | -3 | [1] | 14 | [1] | ||||||
Allowance for Loan and Lease Losses, ending balance | 19,432 | 26,233 | 19,432 | 26,233 | 10,513 | 16,534 | 10,513 | 16,534 | 5,430 | 6,521 | 5,430 | 6,521 | 3,489 | 3,178 | 3,489 | 3,178 | 3,234 | 3,234 | 3,234 | 5,536 | ||||||||||||||||||
Reserve For Unfunded Lending Commitments, beginning balance | 474 | 574 | 513 | 714 | 0 | 0 | 0 | 0 | 474 | 574 | 513 | 714 | ||||||||||||||||||||||||||
Provision for unfunded lending commitments | 5 | -36 | -22 | -142 | 0 | 0 | 0 | 0 | 5 | -36 | -22 | -142 | ||||||||||||||||||||||||||
Other | 1 | [2] | -20 | [2] | -11 | [2] | -54 | [2] | [2] | 0 | [2] | [2] | 0 | [2] | [2] | 0 | [2] | [2] | 0 | [2] | 1 | [2] | -20 | [2] | -11 | [2] | -54 | [2] | ||||||||||
Reserve For Unfunded Lending Commitments, ending balance | 480 | 518 | 480 | 518 | 0 | 0 | 0 | 0 | 480 | 518 | 480 | 518 | ||||||||||||||||||||||||||
Allowance For Credit Losses, September 30 | $19,912 | $26,751 | $19,912 | $26,751 | $10,513 | $16,534 | $10,513 | $16,534 | $5,430 | $6,521 | $5,430 | $6,521 | $3,969 | $3,696 | $3,969 | $3,696 | ||||||||||||||||||||||
[1] | Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments. | |||||||||||||||||||||||||||||||||||||
[2] | Primarily represents accretion of the Merrill Lynch purchase accounting adjustment. |
Allowance_and_Carrying_Value_o
Allowance and Carrying Value of Outstanding Loans and Leases by Portfolio Segment (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | $19,432 | $21,235 | $24,179 | $26,233 | $30,288 | $33,783 | ||
Carrying Value Gross of Valuation Allowance | 924,196 | [1],[2] | 898,817 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 2.10% | [2] | 2.69% | [2] | ||||
Loans Receivable, Fair Value Disclosure | 10,196 | 9,002 | ||||||
Impaired Loans and Troubled Debt Restructurings [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 2,415 | [3],[4] | 3,314 | [3],[4] | ||||
Carrying Value Gross of Valuation Allowance | 38,378 | [1],[4] | 39,077 | [1],[4] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 6.29% | [4] | 8.48% | [4] | ||||
Collectively Evaluated For Impairment [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 13,783 | 15,329 | ||||||
Carrying Value Gross of Valuation Allowance | 858,650 | [1],[2] | 833,622 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 1.61% | [2] | 1.84% | [2] | ||||
Purchased Credit-Impaired Loans [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 3,234 | 5,536 | ||||||
Carrying Value Gross of Valuation Allowance | 27,168 | 26,118 | ||||||
Valuation Allowance As A Percentage Of Carrying Value | 11.90% | 21.20% | ||||||
Home Loans [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 10,513 | 12,396 | 14,933 | 16,534 | 19,964 | 21,079 | ||
Carrying Value Gross of Valuation Allowance | 350,149 | [1],[2] | 361,069 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 3.00% | [2] | 4.14% | [2] | ||||
Home Loans [Member] | Impaired Loans and Troubled Debt Restructurings [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 1,484 | [3],[4] | 1,700 | [3],[4] | ||||
Carrying Value Gross of Valuation Allowance | 32,606 | [1],[4] | 30,250 | [1],[4] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 4.55% | [4] | 5.62% | [4] | ||||
Home Loans [Member] | Collectively Evaluated For Impairment [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 5,795 | 7,697 | ||||||
Carrying Value Gross of Valuation Allowance | 290,375 | [1],[2] | 304,701 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 2.00% | [2] | 2.53% | [2] | ||||
Home Loans [Member] | Purchased Credit-Impaired Loans [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 3,234 | 5,536 | ||||||
Carrying Value Gross of Valuation Allowance | 27,168 | 26,118 | ||||||
Valuation Allowance As A Percentage Of Carrying Value | 11.90% | 21.20% | ||||||
Credit Card and Other Consumer [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 5,430 | 5,671 | 6,140 | 6,521 | 7,024 | 8,569 | ||
Carrying Value Gross of Valuation Allowance | 187,311 | [1],[2] | 191,365 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 2.90% | [2] | 3.21% | [2] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,416 | 3,946 | ||||||
Credit Card and Other Consumer [Member] | Impaired Loans and Troubled Debt Restructurings [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 645 | [3],[4] | 1,139 | [3],[4] | ||||
Carrying Value Gross of Valuation Allowance | 2,416 | [1],[4] | 3,946 | [1],[4] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 26.70% | [4] | 28.86% | [4] | ||||
Credit Card and Other Consumer [Member] | Collectively Evaluated For Impairment [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 4,785 | 5,001 | ||||||
Carrying Value Gross of Valuation Allowance | 184,895 | [1],[2] | 187,419 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 2.59% | [2] | 2.67% | [2] | ||||
Commercial [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 3,489 | 3,168 | 3,106 | 3,178 | 3,300 | 4,135 | ||
Carrying Value Gross of Valuation Allowance | 386,736 | [1],[2] | 346,383 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 0.90% | [2] | 0.90% | [2] | ||||
Loans Receivable, Fair Value Disclosure | 8,010 | [5] | 7,997 | [6] | ||||
Commercial [Member] | Impaired Loans and Troubled Debt Restructurings [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 286 | [3],[4] | 475 | [3],[4] | ||||
Carrying Value Gross of Valuation Allowance | 3,356 | [1],[4] | 4,881 | [1],[4] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 8.52% | [4] | 9.73% | [4] | ||||
Commercial [Member] | Collectively Evaluated For Impairment [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Allowance for Loan and Lease Losses | 3,203 | 2,631 | ||||||
Carrying Value Gross of Valuation Allowance | 383,380 | [1],[2] | 341,502 | [1],[2] | ||||
Valuation Allowance As A Percentage Of Carrying Value | 0.84% | [2] | 0.77% | [2] | ||||
Small Business Commercial Loan [Member] | ||||||||
Carrying Value of Outstanding Loans and Leases [Abstract] | ||||||||
Financing Receivable, Modifications, Recorded Investment | $45 | $97 | ||||||
[1] | Amounts are presented gross of the allowance for loan and lease losses. | |||||||
[2] | Outstanding loan and lease balances and ratios do not include loans accounted for under the fair value option of $10.2 billion and $9.0 billion at September 30, 2013 and December 31, 2012. | |||||||
[3] | Allowance for loan and lease losses includes $45 million and $97 million related to impaired U.S. small business commercial at September 30, 2013 and December 31, 2012. | |||||||
[4] | Impaired loans include nonperforming commercial loans and all TDRs, including both commercial and consumer TDRs. Impaired loans exclude nonperforming consumer loans unless they are TDRs, and all consumer and commercial loans accounted for under the fair value option. | |||||||
[5] | Consumer loans accounted for under the fair value option were residential mortgage loans of $2.2 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $1.8 billion and non-U.S. commercial loans of $6.2 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. | |||||||
[6] | Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 16 – Fair Value Measurements and Note 17 – Fair Value Option. |
Securitizations_and_Other_Vari2
Securitizations and Other Variable Interest Entities - First Lien Mortgages (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Consumer Mortgage [Member] | |||||||||
In Text Details [Abstract] | |||||||||
Servicing Fee And Ancillary Fee Income | $674,000,000 | $1,100,000,000 | $2,300,000,000 | $3,600,000,000 | |||||
Servicing Advance | 15,500,000,000 | 15,500,000,000 | 23,200,000,000 | ||||||
First Lien Mortgages [Member] | |||||||||
Table Details [Abstract] | |||||||||
Gain on Sale of Mortgage Loans | 379,000,000 | 563,000,000 | 1,700,000,000 | 1,300,000,000 | |||||
In Text Details [Abstract] | |||||||||
Fair value of securities received in connection with first-lien mortgage securitizations | 490,000,000 | 315,000,000 | 3,000,000,000 | 2,500,000,000 | |||||
Loans repurchased from investors and securitization trusts | 3,100,000,000 | 2,500,000,000 | 9,400,000,000 | 5,200,000,000 | |||||
First Lien Mortgages [Member] | Agency Securities [Member] | |||||||||
Securitizations Related Information [Abstract] | |||||||||
Cash proceeds from new securitizations | 14,068,000,000 | [1] | 12,461,000,000 | [1] | 41,444,000,000 | [1] | 27,688,000,000 | [1] | |
Loss on securitizations, net of hedges | 36,000,000 | [2] | -89,000,000 | [2] | 92,000,000 | [2] | -151,000,000 | [2] | |
First Lien Mortgages [Member] | Commercial Mortgage Backed Securities [Member] | |||||||||
Securitizations Related Information [Abstract] | |||||||||
Cash proceeds from new securitizations | 0 | [1] | 335,000,000 | [1] | 208,000,000 | [1] | 660,000,000 | [1] | |
Loss on securitizations, net of hedges | $0 | [2] | $0 | [2] | $0 | [2] | $0 | [2] | |
[1] | The Corporation sells residential mortgage loans to GSEs in the normal course of business and receives MBS in exchange which may then be sold into the market to third-party investors for cash proceeds. | ||||||||
[2] | Substantially all of the first-lien residential mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. As such, gains are recognized on these LHFS prior to securitization. The Corporation recognized $379 million and $1.7 billion of gains, net of hedges, on loans securitized during the three and nine months ended September 30, 2013 compared to $563 million and $1.3 billion for the same periods in 2012. |
Securitizations_and_Other_Vari3
Securitizations and Other Variable Interest Entities - First Lien Mortgages VIE (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||
Variable Interest Entity [Line Items] | ||||||||
Unpaid principal balance of mortgage loans eligible for repurchase | $2,300,000,000 | $12,100,000,000 | ||||||
Principal amount that would be payable to the securitization vehicles | -2,300,000,000 | -12,100,000,000 | ||||||
On Balance Sheet Assets [Abstract] | ||||||||
Other Assets | 122,068,000,000 | 150,112,000,000 | ||||||
Total assets | 2,126,653,000,000 | 2,209,974,000,000 | 2,166,162,000,000 | |||||
Loans and leases | 934,392,000,000 | 907,819,000,000 | ||||||
Allowance for loan and lease losses | -19,432,000,000 | -21,235,000,000 | -24,179,000,000 | -26,233,000,000 | -30,288,000,000 | -33,783,000,000 | ||
Loans held-for-sale | 15,001,000,000 | 19,413,000,000 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 40,769,000,000 | 30,731,000,000 | ||||||
Long-term debt | 255,331,000,000 | 275,585,000,000 | ||||||
Total liabilities | 1,894,371,000,000 | 1,973,018,000,000 | ||||||
Unconsolidated VIEs [Member] | Agency Securities [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 21,362,000,000 | [1] | 28,591,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Residual interests held | 0 | [2] | 0 | [2] | ||||
Other Assets | 561,000,000 | [3] | 1,551,000,000 | [3] | ||||
Total assets | 21,362,000,000 | 28,591,000,000 | ||||||
Principal balance outstanding | 479,193,000,000 | [4] | 797,315,000,000 | [4] | ||||
Unconsolidated VIEs [Member] | Prime Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 1,623,000,000 | [1] | 2,038,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Residual interests held | 13,000,000 | [2] | 18,000,000 | [2] | ||||
Other Assets | 75,000,000 | [3] | 64,000,000 | [3] | ||||
Total assets | 1,193,000,000 | 1,507,000,000 | ||||||
Principal balance outstanding | 29,592,000,000 | [4] | 45,819,000,000 | [4] | ||||
Unconsolidated VIEs [Member] | Subprime Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 407,000,000 | [1] | 410,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Residual interests held | 0 | [2] | 9,000,000 | [2] | ||||
Other Assets | 1,000,000 | [3] | 1,000,000 | [3] | ||||
Total assets | 242,000,000 | 246,000,000 | ||||||
Principal balance outstanding | 34,084,000,000 | [4] | 53,822,000,000 | [4] | ||||
Unconsolidated VIEs [Member] | Alt-A Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 448,000,000 | [1] | 367,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Residual interests held | 0 | [2] | 0 | [2] | ||||
Other Assets | 328,000,000 | [3] | 239,000,000 | [3] | ||||
Total assets | 448,000,000 | 367,000,000 | ||||||
Principal balance outstanding | 54,045,000,000 | [4] | 71,990,000,000 | [4] | ||||
Unconsolidated VIEs [Member] | Commercial Mortgage Backed Securities [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 607,000,000 | [1] | 702,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Residual interests held | 177,000,000 | [2] | 40,000,000 | [2] | ||||
Other Assets | 0 | [3] | 0 | [3] | ||||
Total assets | 572,000,000 | 646,000,000 | ||||||
Principal balance outstanding | 21,883,000,000 | [4] | 56,733,000,000 | [4] | ||||
Consolidated VIEs [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Other Assets | 4,314,000,000 | 4,654,000,000 | ||||||
Total assets | 122,165,000,000 | 134,431,000,000 | ||||||
Loans and leases | 109,996,000,000 | 123,227,000,000 | ||||||
Allowance for loan and lease losses | -2,962,000,000 | -3,658,000,000 | ||||||
Loans held-for-sale | 1,875,000,000 | 1,969,000,000 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 2,180,000,000 | 3,731,000,000 | ||||||
Long-term debt | 24,481,000,000 | 34,256,000,000 | ||||||
Total liabilities | 27,043,000,000 | 38,347,000,000 | ||||||
Consolidated VIEs [Member] | Agency Securities [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 42,509,000,000 | [1] | 46,959,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 927,000,000 | 0 | ||||||
Other Assets | 478,000,000 | 972,000,000 | ||||||
Total assets | 42,516,000,000 | 46,959,000,000 | ||||||
Loans and leases | 41,114,000,000 | 45,991,000,000 | ||||||
Allowance for loan and lease losses | -3,000,000 | -4,000,000 | ||||||
Loans held-for-sale | 0 | 0 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 0 | 0 | ||||||
Long-term debt | 7,000,000 | 0 | ||||||
Total liabilities | 7,000,000 | 0 | ||||||
Consolidated VIEs [Member] | Prime Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 102,000,000 | [1] | 104,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | 0 | ||||||
Other Assets | 0 | 10,000,000 | ||||||
Total assets | 247,000,000 | 293,000,000 | ||||||
Loans and leases | 247,000,000 | 283,000,000 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Loans held-for-sale | 0 | 0 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 0 | 0 | ||||||
Long-term debt | 168,000,000 | 212,000,000 | ||||||
Total liabilities | 168,000,000 | 212,000,000 | ||||||
Consolidated VIEs [Member] | Subprime Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 389,000,000 | [1] | 390,000,000 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | 0 | ||||||
Other Assets | 4,000,000 | 91,000,000 | ||||||
Total assets | 1,575,000,000 | 1,727,000,000 | ||||||
Loans and leases | 811,000,000 | 722,000,000 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Loans held-for-sale | 760,000,000 | 914,000,000 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 762,000,000 | 741,000,000 | ||||||
Long-term debt | 804,000,000 | 941,000,000 | ||||||
Total liabilities | 1,566,000,000 | 1,682,000,000 | ||||||
Consolidated VIEs [Member] | Alt-A Loan [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 0 | [1] | 0 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | 0 | ||||||
Other Assets | 0 | 0 | ||||||
Total assets | 0 | 0 | ||||||
Loans and leases | 0 | 0 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Loans held-for-sale | 0 | 0 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 0 | 0 | ||||||
Long-term debt | 0 | 0 | ||||||
Total liabilities | 0 | 0 | ||||||
Consolidated VIEs [Member] | Commercial Mortgage Backed Securities [Member] | First Lien Mortgages [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 0 | [1] | 0 | [1] | ||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | 0 | ||||||
Other Assets | 0 | 0 | ||||||
Total assets | 0 | 0 | ||||||
Loans and leases | 0 | 0 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Loans held-for-sale | 0 | 0 | ||||||
On Balance Sheet Liabilities [Abstract] | ||||||||
Commercial paper and other short-term borrowings | 0 | 0 | ||||||
Long-term debt | 0 | 0 | ||||||
Total liabilities | 0 | 0 | ||||||
Senior Securities [Member] | Unconsolidated VIEs [Member] | Agency Securities [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 976,000,000 | [2] | 619,000,000 | [2] | ||||
AFS Debt Securities | 19,825,000,000 | [2] | 26,421,000,000 | [2] | ||||
Senior Securities [Member] | Unconsolidated VIEs [Member] | Prime Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | [2] | 16,000,000 | [2] | ||||
AFS Debt Securities | 1,088,000,000 | [2] | 1,388,000,000 | [2] | ||||
Senior Securities [Member] | Unconsolidated VIEs [Member] | Subprime Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 8,000,000 | [2] | 14,000,000 | [2] | ||||
AFS Debt Securities | 219,000,000 | [2] | 210,000,000 | [2] | ||||
Senior Securities [Member] | Unconsolidated VIEs [Member] | Alt-A Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 1,000,000 | [2] | 0 | [2] | ||||
AFS Debt Securities | 119,000,000 | [2] | 128,000,000 | [2] | ||||
Senior Securities [Member] | Unconsolidated VIEs [Member] | Commercial Mortgage Backed Securities [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 18,000,000 | [2] | 12,000,000 | [2] | ||||
AFS Debt Securities | 359,000,000 | [2] | 581,000,000 | [2] | ||||
Subordinate Securities [Member] | Unconsolidated VIEs [Member] | Agency Securities [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | [2] | 0 | [2] | ||||
AFS Debt Securities | 0 | [2] | 0 | [2] | ||||
Subordinate Securities [Member] | Unconsolidated VIEs [Member] | Prime Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | [2] | 0 | [2] | ||||
AFS Debt Securities | 17,000,000 | [2] | 21,000,000 | [2] | ||||
Subordinate Securities [Member] | Unconsolidated VIEs [Member] | Subprime Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 7,000,000 | [2] | 3,000,000 | [2] | ||||
AFS Debt Securities | 7,000,000 | [2] | 9,000,000 | [2] | ||||
Subordinate Securities [Member] | Unconsolidated VIEs [Member] | Alt-A Loan [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 0 | [2] | 0 | [2] | ||||
AFS Debt Securities | 0 | [2] | 0 | [2] | ||||
Subordinate Securities [Member] | Unconsolidated VIEs [Member] | Commercial Mortgage Backed Securities [Member] | First Lien Mortgages [Member] | ||||||||
On Balance Sheet Assets [Abstract] | ||||||||
Trading account assets | 18,000,000 | [2] | 13,000,000 | [2] | ||||
AFS Debt Securities | $0 | [2] | $0 | [2] | ||||
[1] | Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and MSRs. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees and Note 19 – Mortgage Servicing Rights. | |||||||
[2] | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | |||||||
[3] | Not included in the table above are all other assets of $2.3 billion and $12.1 billion, representing the unpaid principal balance of mortgage loans eligible for repurchase from unconsolidated residential mortgage securitization vehicles, principally guaranteed by GNMA, and all other liabilities of $2.3 billion and $12.1 billion, representing the principal amount that would be payable to the securitization vehicles if the Corporation were to exercise the repurchase option, at September 30, 2013 and December 31, 2012. | |||||||
[4] | Principal balance outstanding includes loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loans. |
Securitizations_and_Other_Vari4
Securitizations and Other Variable Interest Entities - Home Equity Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||||
On Balance Sheet Assets [Abstract] | |||||||||||
Loans and leases | $934,392,000,000 | $934,392,000,000 | $907,819,000,000 | ||||||||
Allowance for loan and lease losses | -19,432,000,000 | -26,233,000,000 | -19,432,000,000 | -26,233,000,000 | -21,235,000,000 | -24,179,000,000 | -30,288,000,000 | -33,783,000,000 | |||
Total assets | 2,126,653,000,000 | 2,166,162,000,000 | 2,126,653,000,000 | 2,166,162,000,000 | 2,209,974,000,000 | ||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||
Long-term debt | 255,331,000,000 | 255,331,000,000 | 275,585,000,000 | ||||||||
Total liabilities | 1,894,371,000,000 | 1,894,371,000,000 | 1,973,018,000,000 | ||||||||
In Text Details [Abstract] | |||||||||||
Remaining Borrowing Capacity On Home Equity Line | 83,000,000 | 83,000,000 | 196,000,000 | ||||||||
Repurchase of loans from home equity securitization trusts | 81,000,000 | 22,000,000 | 197,000,000 | 60,000,000 | |||||||
Total assets of home equity securitization trusts transferred | 475,000,000 | ||||||||||
Total liabilities of home equity securitization trusts transferred | 616,000,000 | ||||||||||
Gains related to deconsolidation of home equity securitization trusts | 141,000,000 | ||||||||||
Consolidated VIEs [Member] | |||||||||||
On Balance Sheet Assets [Abstract] | |||||||||||
Loans and leases | 109,996,000,000 | 109,996,000,000 | 123,227,000,000 | ||||||||
Allowance for loan and lease losses | -2,962,000,000 | -2,962,000,000 | -3,658,000,000 | ||||||||
Total assets | 122,165,000,000 | 122,165,000,000 | 134,431,000,000 | ||||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||
Long-term debt | 24,481,000,000 | 24,481,000,000 | 34,256,000,000 | ||||||||
Other Liabilities | 382,000,000 | 382,000,000 | 360,000,000 | ||||||||
Total liabilities | 27,043,000,000 | 27,043,000,000 | 38,347,000,000 | ||||||||
Home Equity [Member] | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Maximum loss exposure | 7,757,000,000 | [1] | 7,757,000,000 | [1] | 8,711,000,000 | [1] | |||||
On Balance Sheet Assets [Abstract] | |||||||||||
Trading account assets | 23,000,000 | 23,000,000 | 8,000,000 | ||||||||
AFS Debt Securities | 19,000,000 | 19,000,000 | 14,000,000 | ||||||||
Loans and leases | 1,406,000,000 | 1,406,000,000 | 2,197,000,000 | ||||||||
Allowance for loan and lease losses | -89,000,000 | -89,000,000 | -193,000,000 | ||||||||
Total assets | 1,359,000,000 | 1,359,000,000 | 2,026,000,000 | ||||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||
Long-term debt | 1,503,000,000 | 1,503,000,000 | 2,331,000,000 | ||||||||
Other Liabilities | 88,000,000 | 88,000,000 | 92,000,000 | ||||||||
Total liabilities | 1,591,000,000 | 1,591,000,000 | 2,423,000,000 | ||||||||
Principal balance outstanding | 8,235,000,000 | 8,235,000,000 | 14,841,000,000 | ||||||||
In Text Details [Abstract] | |||||||||||
Trust certificates outstanding | 7,900,000,000 | 7,900,000,000 | 9,000,000,000 | ||||||||
Reserve For Losses For Home Equity Securitizations | 15,000,000 | 15,000,000 | 51,000,000 | ||||||||
Servicing Fees, Net | 11,000,000 | 14,000,000 | 37,000,000 | 45,000,000 | |||||||
Home Equity [Member] | Consolidated VIEs [Member] | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Maximum loss exposure | 1,317,000,000 | [1] | 1,317,000,000 | [1] | 2,004,000,000 | [1] | |||||
On Balance Sheet Assets [Abstract] | |||||||||||
Trading account assets | 0 | 0 | 0 | ||||||||
AFS Debt Securities | 0 | 0 | 0 | ||||||||
Loans and leases | 1,406,000,000 | 1,406,000,000 | 2,197,000,000 | ||||||||
Allowance for loan and lease losses | -89,000,000 | -89,000,000 | -193,000,000 | ||||||||
Total assets | 1,317,000,000 | 1,317,000,000 | 2,004,000,000 | ||||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||
Long-term debt | 1,503,000,000 | 1,503,000,000 | 2,331,000,000 | ||||||||
Other Liabilities | 88,000,000 | 88,000,000 | 92,000,000 | ||||||||
Total liabilities | 1,591,000,000 | 1,591,000,000 | 2,423,000,000 | ||||||||
Principal balance outstanding | 1,406,000,000 | 1,406,000,000 | 2,197,000,000 | ||||||||
Home Equity [Member] | Unconsolidated VIEs [Member] | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Maximum loss exposure | 6,440,000,000 | [1] | 6,440,000,000 | [1] | 6,707,000,000 | [1] | |||||
On Balance Sheet Assets [Abstract] | |||||||||||
Trading account assets | 23,000,000 | 23,000,000 | 8,000,000 | ||||||||
AFS Debt Securities | 19,000,000 | 19,000,000 | 14,000,000 | ||||||||
Loans and leases | 0 | 0 | 0 | ||||||||
Allowance for loan and lease losses | 0 | 0 | 0 | ||||||||
Total assets | 42,000,000 | 42,000,000 | 22,000,000 | ||||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||
Long-term debt | 0 | 0 | 0 | ||||||||
Other Liabilities | 0 | 0 | 0 | ||||||||
Total liabilities | 0 | 0 | 0 | ||||||||
Principal balance outstanding | $6,829,000,000 | $6,829,000,000 | $12,644,000,000 | ||||||||
[1] | For unconsolidated VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves, and excludes the liability for representations and warranties obligations and corporate guarantees. |
Securitizations_and_Other_Vari5
Securitizations and Other Variable Interest Entities - Credit Card (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||
Consolidated VIEs [Member] | Consolidated VIEs [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Seller Interest [Member] | Seller Interest [Member] | Discount Receivables [Member] | Discount Receivables [Member] | Subordinated Debt Securities [Member] | Subordinated Debt Securities [Member] | |||||||||
Consolidated VIEs [Member] | Consolidated VIEs [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | Credit Card Receivable [Member] | |||||||||||||
Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | |||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||
Maximum loss exposure | $42,487,000,000 | $44,412,000,000 | ||||||||||||||||||
On Balance Sheet Assets [Abstract] | ||||||||||||||||||||
Derivative assets | 53,161,000,000 | 53,497,000,000 | 199,000,000 | 333,000,000 | 323,000,000 | 199,000,000 | ||||||||||||||
Loans and leases | 934,392,000,000 | 907,819,000,000 | 109,996,000,000 | 123,227,000,000 | 66,427,000,000 | [1] | 60,740,000,000 | [1] | 36,000,000,000 | 33,500,000,000 | 24,000,000 | 124,000,000 | ||||||||
Allowance for loan and lease losses | -19,432,000,000 | -21,235,000,000 | -24,179,000,000 | -26,233,000,000 | -30,288,000,000 | -33,783,000,000 | -2,962,000,000 | -3,658,000,000 | -3,445,000,000 | -2,865,000,000 | ||||||||||
Other Assets | 122,068,000,000 | 150,112,000,000 | 4,314,000,000 | 4,654,000,000 | 1,567,000,000 | [2] | 1,971,000,000 | [2] | ||||||||||||
Total assets | 2,126,653,000,000 | 2,209,974,000,000 | 2,166,162,000,000 | 122,165,000,000 | 134,431,000,000 | 64,872,000,000 | 60,045,000,000 | |||||||||||||
On Balance Sheet Liabilities [Abstract] | ||||||||||||||||||||
Long-term debt | 255,331,000,000 | 275,585,000,000 | 24,481,000,000 | 34,256,000,000 | 22,291,000,000 | 15,569,000,000 | ||||||||||||||
Other Liabilities | 382,000,000 | 360,000,000 | 94,000,000 | 64,000,000 | ||||||||||||||||
Total liabilities | 1,894,371,000,000 | 1,973,018,000,000 | 27,043,000,000 | 38,347,000,000 | 22,385,000,000 | 15,633,000,000 | ||||||||||||||
In Text Details [Abstract] | ||||||||||||||||||||
Notional Principal Amount Of Securities Issued By Securitization Trusts To Entity | 8,700,000,000 | 10,100,000,000 | ||||||||||||||||||
Stated Interest Rate Of Securities Issued By Securitization Trusts To Entity | 0.00% | |||||||||||||||||||
Cash Flows Between Transferor and Transferee, Beneficial Interest | 553,000,000 | |||||||||||||||||||
Senior Interest of Receivable Held | $282,000,000 | $309,000,000 | ||||||||||||||||||
[1] | At September 30, 2013 and December 31, 2012, loans and leases included $36.0 billion and $33.5 billion of seller's interest and $24 million and $124 million of discount receivables. | |||||||||||||||||||
[2] | At September 30, 2013 and December 31, 2012, all other assets included restricted cash and short-term investment accounts and unbilled accrued interest and fees. |
Securitizations_and_Other_Vari6
Securitizations and Other Variable Interest Entities - Other Asset Backed (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||
Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Automobile Loan [Member] | Automobile Loan [Member] | Student Loan [Member] | Student Loan [Member] | Other Loan and Receivable [Member] | Other Loan and Receivable [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | |||||||||||||||||||||||||
Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | Resecuritization Trusts [Member] | Resecuritization Trusts [Member] | Municipal Bonds [Member] | Municipal Bonds [Member] | Automobile And Other Securitization Trusts [Member] | Automobile And Other Securitization Trusts [Member] | |||||||||||||||||||||||||||||||||||||||||
Senior Debt Securities [Member] | Senior Debt Securities [Member] | Subordinated Debt Securities [Member] | Subordinated Debt Securities [Member] | Senior Debt Securities [Member] | Senior Debt Securities [Member] | Subordinated Debt Securities [Member] | Subordinated Debt Securities [Member] | Senior Debt Securities [Member] | Senior Debt Securities [Member] | Subordinated Debt Securities [Member] | Subordinated Debt Securities [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum loss exposure | $13,075,000,000 | $20,715,000,000 | $2,322,000,000 | $3,341,000,000 | $99,000,000 | $122,000,000 | $250,000,000 | $126,000,000 | $2,987,000,000 | $2,505,000,000 | $196,000,000 | $1,255,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
On Balance Sheet Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets | 779,000,000 | [1],[2] | 1,281,000,000 | [1],[2] | 134,000,000 | [1],[2] | 12,000,000 | [1],[2] | 17,000,000 | [1],[2] | 37,000,000 | [1],[2] | 1,169,000,000 | 220,000,000 | 2,987,000,000 | 2,505,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases | 934,392,000,000 | 907,819,000,000 | 109,996,000,000 | 123,227,000,000 | 0 | 0 | 0 | 0 | 867,000,000 | 2,523,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses | -19,432,000,000 | -21,235,000,000 | -24,179,000,000 | -26,233,000,000 | -30,288,000,000 | -33,783,000,000 | -2,962,000,000 | -3,658,000,000 | 0 | 0 | 0 | 0 | -1,000,000 | -2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
AFS Debt Securities | 12,174,000,000 | [1],[2] | 19,343,000,000 | [1],[2] | 67,000,000 | [1],[2] | 75,000,000 | [1],[2] | 0 | [1],[2] | 540,000,000 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] | 72,000,000 | [1],[2] | 74,000,000 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] | ||||||||||||||||||||||||||||||||||||||||
Residual interests held | 55,000,000 | [3] | 16,000,000 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Assets | 122,068,000,000 | 150,112,000,000 | 0 | 0 | 0 | 0 | 10,000,000 | 11,000,000 | 4,314,000,000 | 4,654,000,000 | 0 | 0 | 0 | 0 | 80,000,000 | 250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | 2,126,653,000,000 | 2,209,974,000,000 | 2,166,162,000,000 | 13,075,000,000 | 20,715,000,000 | 134,000,000 | 552,000,000 | 99,000,000 | 122,000,000 | 122,165,000,000 | 134,431,000,000 | 1,169,000,000 | 220,000,000 | 2,987,000,000 | 2,505,000,000 | 946,000,000 | 2,771,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Unconsolidated, Total assets of VIEs | 39,742,000,000 | [4] | 42,818,000,000 | [4] | 3,859,000,000 | [4] | 4,980,000,000 | [4] | 1,949,000,000 | [4] | 1,890,000,000 | [4] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
On Balance Sheet Liabilities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial paper and other short-term borrowings | 40,769,000,000 | 30,731,000,000 | 2,180,000,000 | 3,731,000,000 | 0 | 0 | 1,336,000,000 | 2,859,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | 255,331,000,000 | 275,585,000,000 | 24,481,000,000 | 34,256,000,000 | 919,000,000 | 94,000,000 | 0 | 0 | 749,000,000 | 1,513,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Liabilities | 382,000,000 | 360,000,000 | 0 | 0 | 0 | 0 | 82,000,000 | 82,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 1,894,371,000,000 | 1,973,018,000,000 | 27,043,000,000 | 38,347,000,000 | 919,000,000 | 94,000,000 | 1,336,000,000 | 2,859,000,000 | 831,000,000 | 1,595,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Text Details [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds, in Period | 6,600,000,000 | 12,200,000,000 | 18,200,000,000 | 36,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale, Gain (Loss) on Sale | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidity Commitments To Unconsolidated Securitization Trusts | 2,200,000,000 | 2,800,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average remaining life of bonds held in the trusts in years | 8 years 6 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Qualitative and Quantitative Information, Transferor's Continuing Involvement, Principal Amount Outstanding, Continued Recognition, Amount | $2,900,000,000 | $4,700,000,000 | $1,200,000,000 | $3,500,000,000 | $773,000,000 | $897,000,000 | $920,000,000 | $290,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2013 and 2012, there were no OTTI losses recorded on those securities classified as AFS debt securities. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The retained residual interests are carried at fair value which was derived using model valuations (Level 2 of the fair value hierarchy). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan. |
Securitizations_and_Other_Vari7
Securitizations and Other Variable Interest Entities - CDO Vehicle (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
On Balance Sheet Assets [Abstract] | |||
Derivative assets | $53,161 | $53,497 | |
Other Assets | 122,068 | 150,112 | |
Total assets | 2,126,653 | 2,209,974 | 2,166,162 |
On Balance Sheet Liabilities [Abstract] | |||
Long-term debt | 255,331 | 275,585 | |
Total liabilities | 1,894,371 | 1,973,018 | |
Collateralized Debt Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 2,293 | 3,577 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 1,570 | 2,449 | |
Derivative assets | 146 | 311 | |
Other Assets | 57 | 76 | |
Total assets | 1,773 | 2,836 | |
On Balance Sheet Liabilities [Abstract] | |||
Long-term debt | 1,482 | 2,808 | |
Other Liabilities | 7 | 9 | |
Total liabilities | 1,489 | 2,817 | |
Total assets of VIEs | 21,106 | 29,186 | |
In Text Details [Abstract] | |||
Notional Amount Of Liquidity Exposure | 1,500 | ||
Consolidated VIEs [Member] | |||
On Balance Sheet Assets [Abstract] | |||
Derivative assets | 199 | 333 | |
Other Assets | 4,314 | 4,654 | |
Total assets | 122,165 | 134,431 | |
On Balance Sheet Liabilities [Abstract] | |||
Long-term debt | 24,481 | 34,256 | |
Other Liabilities | 382 | 360 | |
Total liabilities | 27,043 | 38,347 | |
Consolidated VIEs [Member] | Collateralized Debt Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 1,274 | 2,201 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 1,280 | 2,191 | |
Derivative assets | 0 | 10 | |
Other Assets | 0 | 0 | |
Total assets | 1,280 | 2,201 | |
On Balance Sheet Liabilities [Abstract] | |||
Long-term debt | 1,482 | 2,806 | |
Other Liabilities | 0 | 0 | |
Total liabilities | 1,482 | 2,806 | |
Consolidated, Total assets of VIEs | 1,280 | 2,201 | |
Unconsolidated VIEs [Member] | Collateralized Debt Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 1,019 | 1,376 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 290 | 258 | |
Derivative assets | 146 | 301 | |
Other Assets | 57 | 76 | |
Total assets | 493 | 635 | |
On Balance Sheet Liabilities [Abstract] | |||
Long-term debt | 0 | 2 | |
Other Liabilities | 7 | 9 | |
Total liabilities | 7 | 11 | |
Unconsolidated, Total assets of VIEs | 19,826 | 26,985 | |
Super Senior Collateralized Debt Obligation [Member] | Collateralized Debt Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 135 | ||
In Text Details [Abstract] | |||
Notional Amount Of Liquidity Exposure | 87 | ||
Non-Super Senior Collateralized Debt Obligation [Member] | Collateralized Debt Obligations [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 884 | ||
In Text Details [Abstract] | |||
Notional Amount Of Liquidity Exposure | $1,400 |
Securitizations_and_Other_Vari8
Securitizations and Other Variable Interest Entities - Customer Vehicles (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
On Balance Sheet Assets [Abstract] | |||
Derivative assets | $53,161 | $53,497 | |
Loans and leases | 934,392 | 907,819 | |
Loans held-for-sale | 15,001 | 19,413 | |
Other Assets | 122,068 | 150,112 | |
Total assets | 2,126,653 | 2,209,974 | 2,166,162 |
On Balance Sheet Liabilities [Abstract] | |||
Commercial paper and other short-term borrowings | 40,769 | 30,731 | |
Long-term debt | 255,331 | 275,585 | |
Total liabilities | 1,894,371 | 1,973,018 | |
Consolidated VIEs [Member] | |||
On Balance Sheet Assets [Abstract] | |||
Derivative assets | 199 | 333 | |
Loans and leases | 109,996 | 123,227 | |
Loans held-for-sale | 1,875 | 1,969 | |
Other Assets | 4,314 | 4,654 | |
Total assets | 122,165 | 134,431 | |
On Balance Sheet Liabilities [Abstract] | |||
Commercial paper and other short-term borrowings | 2,180 | 3,731 | |
Long-term debt | 24,481 | 34,256 | |
Other Liabilities | 382 | 360 | |
Total liabilities | 27,043 | 38,347 | |
Customer Vehicles [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 4,833 | 4,395 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 2,370 | 2,980 | |
Derivative assets | 335 | 516 | |
Loans and leases | 846 | 523 | |
Loans held-for-sale | 1,038 | 950 | |
Other Assets | 793 | 763 | |
Total assets | 5,382 | 5,732 | |
On Balance Sheet Liabilities [Abstract] | |||
Commercial paper and other short-term borrowings | 82 | 131 | |
Long-term debt | 2,413 | 3,179 | |
Other Liabilities | 502 | 418 | |
Total liabilities | 2,997 | 3,728 | |
Total assets of VIEs | 9,189 | 9,173 | |
In Text Details [Abstract] | |||
Liquidity Commitments To Unconsolidated Securitization Trusts | 667 | 742 | |
Customer Vehicles [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 3,575 | 2,994 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 2,283 | 2,882 | |
Derivative assets | 0 | 0 | |
Loans and leases | 846 | 523 | |
Loans held-for-sale | 1,038 | 950 | |
Other Assets | 793 | 763 | |
Total assets | 4,960 | 5,118 | |
On Balance Sheet Liabilities [Abstract] | |||
Commercial paper and other short-term borrowings | 82 | 131 | |
Long-term debt | 2,413 | 3,179 | |
Other Liabilities | 75 | 29 | |
Total liabilities | 2,570 | 3,339 | |
Consolidated, Total assets of VIEs | 4,960 | 5,118 | |
Customer Vehicles [Member] | Unconsolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 1,258 | 1,401 | |
On Balance Sheet Assets [Abstract] | |||
Trading account assets | 87 | 98 | |
Derivative assets | 335 | 516 | |
Loans and leases | 0 | 0 | |
Loans held-for-sale | 0 | 0 | |
Other Assets | 0 | 0 | |
Total assets | 422 | 614 | |
On Balance Sheet Liabilities [Abstract] | |||
Commercial paper and other short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Other Liabilities | 427 | 389 | |
Total liabilities | 427 | 389 | |
Unconsolidated, Total assets of VIEs | $4,229 | $4,055 |
Securitizations_and_Other_Vari9
Securitizations and Other Variable Interest Entities - Other (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Investment Vehicles [Member] | Investment Vehicles [Member] | Other Asset Back Financing Arrangement [Member] | Other Asset Back Financing Arrangement [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Consolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Unconsolidated VIEs [Member] | Mortgage servicing rights [Member] | ||||||
Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Investment Vehicles [Member] | Investment Vehicles [Member] | Leveraged Lease Trusts [Member] | Leveraged Lease Trusts [Member] | Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Other Investment Vehicles Funds Trusts Conduits And Real Estate Vehicles [Member] | Investment Vehicles [Member] | Investment Vehicles [Member] | Real Estate Vehicles [Member] | Real Estate Vehicles [Member] | Investment Vehicles [Member] | |||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||||
Maximum loss exposure | $13,780 | $12,100 | $3,800 | $2,100 | $1,200 | $2,500 | $4,975 | $5,608 | $8,805 | $6,492 | $2,000 | ||||||||||||||||
On Balance Sheet Assets [Abstract] | |||||||||||||||||||||||||||
Trading account assets | 97 | 108 | 97 | 108 | 0 | 0 | |||||||||||||||||||||
Derivative assets | 53,161 | 53,497 | 380 | 460 | 199 | 333 | 0 | 0 | 380 | 460 | |||||||||||||||||
AFS Debt Securities | 1,687 | 39 | 0 | 0 | 1,687 | 39 | |||||||||||||||||||||
Loans and leases | 934,392 | 907,819 | 4,215 | 4,628 | 109,996 | 123,227 | 3,965 | 4,561 | 250 | 67 | |||||||||||||||||
Allowance for loan and lease losses | -19,432 | -21,235 | -24,179 | -26,233 | -30,288 | -33,783 | -4 | -14 | -2,962 | -3,658 | -4 | -14 | 0 | 0 | |||||||||||||
Loans held-for-sale | 15,001 | 19,413 | 171 | 262 | 1,875 | 1,969 | 77 | 105 | 94 | 157 | |||||||||||||||||
Other Assets | 122,068 | 150,112 | 7,067 | 6,769 | 4,314 | 4,654 | 988 | 1,001 | 6,079 | 5,768 | |||||||||||||||||
Total assets | 2,126,653 | 2,209,974 | 2,166,162 | 13,613 | 12,252 | 122,165 | 134,431 | 5,123 | 5,761 | 1,200 | 1,300 | 3,900 | 4,400 | 8,490 | 6,491 | 4,800 | 3,000 | 5,800 | 5,400 | ||||||||
On Balance Sheet Liabilities [Abstract] | |||||||||||||||||||||||||||
Long-term debt | 255,331 | 275,585 | 867 | 889 | 24,481 | 34,256 | 867 | 889 | 0 | 0 | |||||||||||||||||
Other Liabilities | 2,210 | 1,755 | 382 | 360 | 73 | 63 | 2,137 | 1,692 | |||||||||||||||||||
Total liabilities | 1,894,371 | 1,973,018 | 3,077 | 2,644 | 27,043 | 38,347 | 940 | 952 | 2,137 | 1,692 | |||||||||||||||||
Consolidated, Total assets of VIEs | 5,123 | 5,761 | 1,700 | ||||||||||||||||||||||||
Unconsolidated, Total assets of VIEs | 11,004 | 8,660 | |||||||||||||||||||||||||
Total assets of VIEs | $16,127 | $14,421 | |||||||||||||||||||||||||
In Text Details [Abstract] | |||||||||||||||||||||||||||
Financing provided for asset-backed financing arrangements, percentage | 75.00% |
Representations_and_Warranties2
Representations and Warranties Obligations and Corporate Guarantees (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 7-May-13 | Sep. 30, 2013 | Sep. 30, 2013 | |
RescissionNotices | RescissionNotices | RescissionNotices | Other Non Government Sponsored Entites [Member] | Implicated by Ongoing Litigation [Member] | Minimum [Member] | Maximum [Member] | First Mortgage [Member] | Second Mortgage [Member] | MBIA Settlement [Member] | MBIA Settlement [Member] | MBIA Settlement [Member] | |||
RescissionNotices | Bank Of New York Mellon As Trustee [Member] | Bank Of New York Mellon As Trustee [Member] | First Mortgage [Member] | Second Mortgage [Member] | ||||||||||
trust | trust | trust | trust | |||||||||||
Guarantor Obligations [Line Items] | ||||||||||||||
Percentage of loans underlying outstanding repurchase demands | 17.00% | 17.00% | 26.00% | |||||||||||
Number Of Trusts Involved In Settlement Agreement | 525 | 5 | 31 | 17 | ||||||||||
Number of Open Mortgage Insurance Rescission Notices | 105,000 | 105,000 | 110,000 | 51,000 | ||||||||||
Percent of Mortgage Insurance Recission Notes Received Which Are Resolved | 39.00% | 39.00% | ||||||||||||
Cash Paid for Repurchases | $277,000,000 | $396,000,000 | $1,035,000,000 | $1,410,000,000 | ||||||||||
Unpaid Principal Balance | 343,000,000 | 431,000,000 | 1,191,000,000 | 1,686,000,000 | ||||||||||
Loss | 168,000,000 | 231,000,000 | 466,000,000 | 640,000,000 | ||||||||||
Provision | 323,000,000 | 307,000,000 | 770,000,000 | 984,000,000 | ||||||||||
Representations Warranties And Guarantees Maximum Exposure Above Existing Accruals | 4,000,000,000 | |||||||||||||
Outstanding Claims For Representations And Warranties Unpaid Principal Balance | 14,800,000,000 | |||||||||||||
Repurchase Demands under Review | 911,000,000 | |||||||||||||
Percentage of loans resolved through repurchase or make whole payments | 15.00% | |||||||||||||
Private Label Securitization Trust Related Repurchase Claims | 43.00% | |||||||||||||
Timeframe To Resolve Repurchase Claims In Dispute | 90 days | 120 days | ||||||||||||
Timetable to reach a settlement once a breach of representations and warranties is confirmed | 60 days | 90 days | ||||||||||||
Original Principal Balance Of Loans Originated | 54,800,000,000 | |||||||||||||
Unpaid Principal Balance | $19,100,000,000 |
Representations_and_Warranties3
Representations and Warranties Obligations and Corporate Guarantees - Litigation Settlement (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | 7-May-13 | Mar. 31, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Jan. 06, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
MBIA Settlement [Member] | MBIA Settlement [Member] | MBIA Settlement [Member] | Federal National Mortgage Association FNMA [Member] | Federal National Mortgage Association FNMA [Member] | Federal National Mortgage Association FNMA [Member] | Second Mortgage [Member] | First Mortgage [Member] | |||||
MBIA Settlement [Member] | MBIA Settlement [Member] | |||||||||||
trust | trust | |||||||||||
Guarantor Obligations [Line Items] | ||||||||||||
Number Of Trusts Involved In Settlement Agreement | 17 | 31 | ||||||||||
Outstanding monoline repurchase claims resolved | $945,000,000 | |||||||||||
Unpaid principal balance of loans where file requests were received with no repurchase claim | 2,600,000,000 | |||||||||||
Original Principal Balance Of Loans Originated | 54,800,000,000 | 1,400,000,000,000 | ||||||||||
Unpaid Principal Balance | 19,100,000,000 | |||||||||||
Outstanding Principal Balance of Residential Mortgage Loans Included in Settlement Agreement | 300,000,000,000 | |||||||||||
Unresolved Repurchase Claims Submitted for Alleged Breaches of Selling Representations and Warranties | 12,200,000,000 | |||||||||||
Payments for Legal Settlements | 51,000,000 | 469,000,000 | 1,700,000,000 | 600,000,000 | 1,565,000,000 | 3,600,000,000 | ||||||
Notes Issued | 95,000,000 | |||||||||||
Percentage of outstanding common stock to be purchased | 4.90% | |||||||||||
Exercise Price Of Common Stock | $9.59 | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | 500,000,000 | |||||||||||
Notional Value of Credit Default Swaps | 7,400,000,000 | |||||||||||
Market Value of Credit Default Swaps | 813,000,000 | |||||||||||
Residental Mortgage Loans Repurchased in Settlement | 6,600,000,000 | |||||||||||
Original Principal Balance of First Lien Mortgages Included in Settlement Agreement | 29,300,000,000 | |||||||||||
Original Principal Balance of Second Lien Mortgages Included in Settlement Agreement | 25,500,000,000 | |||||||||||
Unpaid principal balance of first lien mortgages included in settlement agreement | 9,800,000,000 | |||||||||||
Unpaid principal balance of second lien mortgages included in settlement agreement | $9,300,000,000 |
Representations_and_Warranties4
Representations and Warranties Obligations and Corporate Guarantees - Outstanding Claims (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 06, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||||||||||||||||
RescissionNotices | RescissionNotices | RescissionNotices | Prime loans [Member] | Prime loans [Member] | Alt [Member] | Alt [Member] | Home Equity [Member] | Home Equity [Member] | Pay option [Member] | Pay option [Member] | Subprime [Member] | Subprime [Member] | Other Product Type [Member] | Other Product Type [Member] | Government Sponsored Entities [Member] | Government Sponsored Entities [Member] | Monoline [Member] | Monoline [Member] | Whole loan sale, private-label securitizations and other [Member] | Whole loan sale, private-label securitizations and other [Member] | Government Sponsored Entities [Member] | Government Sponsored Entities [Member] | Whole loan sale, private-label securitizations and other [Member] | Monoline [Member] | Monoline [Member] | Other Non Government Sponsored Entites [Member] | Other Non Government Sponsored Entites [Member] | Whole-Loan Investors [Member] | Whole-Loan Investors [Member] | Maximum [Member] | Minimum [Member] | Federal National Mortgage Association FNMA [Member] | First Lien Mortgages Serviced for Others [Member] | Loans held for investment [Member] | Implicated by Ongoing Litigation [Member] | Federal National Mortgage Association FNMA [Member] | Federal National Mortgage Association FNMA [Member] | Prior to 2009 [Member] | After 2008 [Member] | ||||||||||||||||||||||||
RescissionNotices | RescissionNotices | RescissionNotices | First Lien Mortgages Serviced for Others [Member] | Government Sponsored Entities [Member] | Government Sponsored Entities [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RescissionNotices | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor Obligations [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid Principal Balance Of Loan Guarantees Satisfied | $343 | $431 | $1,191 | $1,686 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss On Loan Guarantees | 168 | 231 | 466 | 640 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments For Loan Guarantees | 277 | 396 | 1,035 | 1,410 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments for Legal Settlements | 51 | 469 | 1,700 | 600 | 3,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Timeframe To Resolve Repurchase Claims In Dispute | 120 days | 90 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding Claims By Counterparty | 17,660 | [1],[2] | 17,660 | [1],[2] | 28,278 | [1],[2] | 1,208 | [1],[2] | 13,530 | [1],[2] | 1,541 | [1],[2] | 2,449 | [1],[2] | 14,911 | [1],[2] | 12,299 | [1],[2] | |||||||||||||||||||||||||||||||||||||||||||||
Timetable to reach a settlement once a breach of representations and warranties is confirmed | 90 days | 60 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding Claims By Product Type | 17,660 | [1],[2] | 17,660 | [1],[2] | 28,278 | [1],[2] | 1,631 | [1],[2] | 8,793 | [1],[2] | 1,456 | [1],[2] | 5,428 | [1],[2] | 1,734 | [1],[2] | 2,394 | [1],[2] | 5,680 | [1],[2] | 5,884 | [1],[2] | 5,276 | [1],[2] | 3,687 | [1],[2] | 1,883 | [1],[2] | 2,092 | [1],[2] | |||||||||||||||||||||||||||||||||
Outstanding Claims, From Mortgage Insurance Recission Notices | 443 | 443 | 2,300 | 1,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase Demands under Review | 911 | 911 | 361 | 22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Purchase Claims | 1,800 | 5,100 | 642 | 1,600 | 5 | 49 | 1,000 | 3,000 | 174 | 442 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Loan Repurchase Claims Resolved | 822 | 15,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Loan Repurchase Claims Resolved Through Rescission | 536 | 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Loan Repurchase Claims Resolved Through Repurchase and Make Whole Payments | 286 | 962 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding Claims For Representations And Warranties Unpaid Principal Balance | 14,800 | 14,800 | 1,100 | 105 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase Demands Excluded from Outstanding Claims | 1,400 | 1,400 | 1,600 | 13,900 | 13,900 | 742 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase Demands Received Excluded from Outstanding Claims | $300 | $1,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Open Mortgage Insurance Rescission Notices | 105,000 | 105,000 | 110,000 | 43,000 | 11,000 | 51,000 | 24,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | At September 30, 2013 and December 31, 2012, unresolved repurchase claims did not include repurchase demands of $1.4 billion and $1.6 billion where the Corporation believes the claimants have not satisfied the contractual thresholds as discussed on page 212. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Excludes certain MI rescission notices. However, at September 30, 2013 and December 31, 2012, included $443 million and $2.3 billion of repurchase requests received from the GSEs that have resulted solely from MI rescission notices. For additional information, see Mortgage Insurance Rescission Notices in this Note. |
Representations_and_Warranties5
Representations and Warranties Obligations and Corporate Guarantees - Loan Repurchases (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Guarantor Obligations [Line Items] | |||||
Representations Warranties And Guarantees Maximum Exposure Above Existing Accruals | $4,000,000,000 | ||||
Payments for Legal Settlements | 51,000,000 | 469,000,000 | 1,700,000,000 | 600,000,000 | |
Unpaid Principal Balance | 343,000,000 | 431,000,000 | 1,191,000,000 | 1,686,000,000 | |
Cash Paid for Repurchases | 277,000,000 | 396,000,000 | 1,035,000,000 | 1,410,000,000 | |
Loss | 168,000,000 | 231,000,000 | 466,000,000 | 640,000,000 | |
Repurchase Demands Excluded from Outstanding Claims | 1,400,000,000 | 1,400,000,000 | 1,600,000,000 | ||
First Lien Mortgages [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 318,000,000 | 422,000,000 | 1,142,000,000 | 1,636,000,000 | |
Cash Paid for Repurchases | 251,000,000 | 387,000,000 | 984,000,000 | 1,363,000,000 | |
Loss | 142,000,000 | 224,000,000 | 415,000,000 | 611,000,000 | |
Home Equity [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 25,000,000 | 9,000,000 | 49,000,000 | 50,000,000 | |
Cash Paid for Repurchases | 26,000,000 | 9,000,000 | 51,000,000 | 47,000,000 | |
Loss | 26,000,000 | 7,000,000 | 51,000,000 | 29,000,000 | |
Obligation to Repurchase Receivables Sold [Member] | First Lien Mortgages [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 128,000,000 | 239,000,000 | 661,000,000 | 989,000,000 | |
Cash Paid for Repurchases | 136,000,000 | 261,000,000 | 693,000,000 | 1,065,000,000 | |
Loss | 27,000,000 | 98,000,000 | 124,000,000 | 313,000,000 | |
Obligation to Repurchase Receivables Sold [Member] | Home Equity [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 0 | 2,000,000 | 0 | 18,000,000 | |
Cash Paid for Repurchases | 0 | 2,000,000 | 0 | 18,000,000 | |
Loss | 0 | ||||
Indemnification Agreement [Member] | First Lien Mortgages [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 190,000,000 | 183,000,000 | 481,000,000 | 647,000,000 | |
Cash Paid for Repurchases | 115,000,000 | 126,000,000 | 291,000,000 | 298,000,000 | |
Loss | 115,000,000 | 126,000,000 | 291,000,000 | 298,000,000 | |
Indemnification Agreement [Member] | Home Equity [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Unpaid Principal Balance | 25,000,000 | 7,000,000 | 49,000,000 | 32,000,000 | |
Cash Paid for Repurchases | 26,000,000 | 7,000,000 | 51,000,000 | 29,000,000 | |
Loss | 26,000,000 | 7,000,000 | 51,000,000 | 29,000,000 | |
Other Non Government Sponsored Entites [Member] | |||||
Guarantor Obligations [Line Items] | |||||
Outstanding Claims For Representations And Warranties Unpaid Principal Balance | 14,800,000,000 | 14,800,000,000 | |||
Repurchase Demands Excluded from Outstanding Claims | 13,900,000,000 | 13,900,000,000 | |||
Repurchase Demands under Review | $911,000,000 | $911,000,000 |
Representations_and_Warranties6
Representations and Warranties Obligations and Corporate Guarantees - Liabilities (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Guarantees [Abstract] | ||||
Representations Warranties And Guarantees Maximum Exposure Above Existing Accruals | $4,000,000,000 | |||
Liability For Representations Warranties And Guarantees [Roll Forward] | ||||
Liability for representations and warranties and corporate guarantees, beginning of year | 14,020,000,000 | 15,943,000,000 | 19,021,000,000 | 15,858,000,000 |
Additions for new sales | 9,000,000 | 8,000,000 | 31,000,000 | 19,000,000 |
Net reductions | -236,000,000 | 11,000,000 | -5,706,000,000 | -592,000,000 |
Provision | 323,000,000 | 307,000,000 | 770,000,000 | 984,000,000 |
Liability for representations and warranties and corporate guarantees, end of period | $14,116,000,000 | $16,269,000,000 | $14,116,000,000 | $16,269,000,000 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Goodwill (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Goodwill [Abstract] | ||
Total Goodwill | $69,891 | $69,976 |
Consumer & Business Banking Segment [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 31,681 | 31,681 |
Global Banking Segment [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 22,377 | 22,377 |
Global Markets [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 5,197 | 5,181 |
Global Wealth & Investment Management [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 9,698 | 9,698 |
All Other [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 938 | 1,039 |
Dealer Financial Services [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | 1,700 | |
International Wealth Management Businesses [Member] | ||
Goodwill [Abstract] | ||
Total Goodwill | $230 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | $17,370 | [1] | $17,370 | [1] | $17,512 | [1] | ||
Accumulated Amortization | 11,527 | [1] | 11,527 | [1] | 10,828 | [1] | ||
In Text Details [Abstract] | ||||||||
Amortization of intangibles | 270 | 315 | 820 | 955 | ||||
Future Amortization Expense, Remainder of 2013 | 270 | 270 | ||||||
Future Amortization Expense, 2014 | 940 | 940 | ||||||
Future Amortization Expense, 2015 | 840 | 840 | ||||||
Future Amortization Expense, 2016 | 740 | 740 | ||||||
Future Amortization Expense, 2017 | 650 | 650 | ||||||
Future Amortization Expense, 2018 | 570 | 570 | ||||||
Purchased credit card relationships [Member] | ||||||||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | 6,137 | [1] | 6,137 | [1] | 6,184 | [1] | ||
Accumulated Amortization | 4,735 | [1] | 4,735 | [1] | 4,494 | [1] | ||
Core deposits intangibles [Member] | ||||||||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | 3,592 | [1] | 3,592 | [1] | 3,592 | [1] | ||
Accumulated Amortization | 3,009 | [1] | 3,009 | [1] | 2,858 | [1] | ||
Customer relationships [Member] | ||||||||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | 4,025 | [1] | 4,025 | [1] | 4,025 | [1] | ||
Accumulated Amortization | 2,182 | [1] | 2,182 | [1] | 1,884 | [1] | ||
Affinity relationships [Member] | ||||||||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | 1,571 | [1] | 1,571 | [1] | 1,572 | [1] | ||
Accumulated Amortization | 1,167 | [1] | 1,167 | [1] | 1,087 | [1] | ||
Other intangibles [Member] | ||||||||
Intangible Assets [Abstract] | ||||||||
Gross Carrying Value | 2,045 | [1] | 2,045 | [1] | 2,139 | [1] | ||
Accumulated Amortization | $434 | [1] | $434 | [1] | $505 | [1] | ||
[1] | Excludes fully amortized intangible assets. |
Federal_Funds_Sold_or_Purchase2
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Short-term Debt [Abstract] | |||||
Average Amount During Year | $279,425 | $325,023 | $311,486 | $312,376 | |
Average Rate During Year (percent) | 0.97% | 1.09% | 0.96% | 1.16% | |
Commercial paper and other short-term borrowings | 40,769 | 40,769 | 30,731 | ||
Securities Borrowed or Purchased Under Agreements to Resell | 212,007 | 212,007 | 219,324 | ||
Securities Loaned or Sold Under Agreements to Repurchase | 226,123 | 226,123 | 292,108 | ||
Federal funds sold [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 10 | 519 | 8 | 281 | |
Average Rate During Year (percent) | 0.74% | 0.36% | 0.68% | 0.44% | |
Maximum Month-end Balance During Year | 35 | 550 | 550 | 550 | |
Commercial paper and other short-term borrowings | 0 | 0 | 600 | ||
Rate | 0.00% | 0.00% | 0.54% | ||
Securities borrowed or purchased under agreements to resell [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 223,424 | 234,436 | 231,371 | 233,777 | |
Average Rate During Year (percent) | 0.52% | 0.60% | 0.53% | 0.67% | |
Maximum Month-end Balance During Year | 220,985 | 237,630 | 249,791 | 252,303 | |
Commercial paper and other short-term borrowings | 212,007 | 212,007 | 219,324 | ||
Rate | 0.50% | 0.50% | 0.92% | ||
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 223,434 | 234,955 | 231,379 | 234,058 | |
Average Rate During Year (percent) | 0.52% | 0.60% | 0.53% | 0.67% | |
Commercial paper and other short-term borrowings | 212,007 | 212,007 | 219,924 | ||
Rate | 0.50% | 0.50% | 0.92% | ||
Federal Funds Purchased [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 183 | 211 | 188 | 229 | |
Average Rate During Year (percent) | 0.03% | 0.05% | 0.06% | 0.05% | |
Maximum Month-end Balance During Year | 166 | 207 | 1,271 | 331 | |
Commercial paper and other short-term borrowings | 151 | 151 | 1,151 | ||
Rate | 0.10% | 0.10% | 0.17% | ||
Securities Loaned or Sold under Agreements to Repurchase [Member] | |||||
Short-term Debt [Abstract] | |||||
Commercial paper and other short-term borrowings | 226,123 | 226,123 | 292,108 | ||
Rate | 0.85% | 0.85% | 1.11% | ||
Securities Sold under Agreements to Repurchase [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 235,022 | 286,931 | 268,549 | 274,166 | |
Average Rate During Year (percent) | 0.82% | 0.95% | 0.80% | 1.04% | |
Maximum Month-end Balance During Year | 239,556 | 291,093 | 319,608 | 291,093 | |
Other Short-term Borrowings [Member] | |||||
Short-term Debt [Abstract] | |||||
Average Amount During Year | 44,220 | 37,881 | 42,749 | 37,981 | |
Average Rate During Year (percent) | 1.76% | 2.16% | 2.01% | 2.07% | |
Maximum Month-end Balance During Year | 44,291 | 40,129 | 46,470 | 40,129 | |
Commercial paper and other short-term borrowings | 40,769 | 40,769 | 30,731 | ||
Rate | 1.86% | 1.86% | 3.08% | ||
Federal Funds Purchased, Securities Loaned or Sold under Agreements to Repurchase and Other Short-term Borrowings [Member] | |||||
Short-term Debt [Abstract] | |||||
Commercial paper and other short-term borrowings | $267,043 | $267,043 | $323,990 | ||
Rate | 1.00% | 1.00% | 1.29% |
Federal_Funds_Sold_or_Purchase3
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings Offsetting Assets and Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Offsetting Assets And Liabilities [Abstract] | ||
Securities borrowed or purchased under agreements to resell, gross asset | $315,751 | $366,238 |
Securities borrowed or purchased under agreements to resell, amounts offset | -103,744 | -146,914 |
Securities Borrowed or Purchased Under Agreements to Resell | 212,007 | 219,324 |
Securities borrowed or purchased under agreements to resell, financial Instruments | -171,277 | -173,593 |
Securities borrowed or purchased under agreements to resell, net asset | 40,730 | 45,731 |
Securities loaned or sold under agreements to repurchase, gross liability | 329,867 | 439,022 |
Securities loaned or sold under agreements to repurchase, amounts offset | -103,744 | -146,914 |
Securities loaned or sold under agreements to repurchase, net balance sheet amount | 226,123 | 292,108 |
Securities loaned or sold under agreements to repurchase, financial instruments | -180,918 | -217,817 |
Securities loaned or sold under agreements to repurchase, net liability | 45,205 | 74,291 |
Other, gross liability | 9,180 | 12,306 |
Other, amounts offset | 0 | 0 |
Other, net balance sheet amount | 9,180 | 12,306 |
Other, financial instruments | -9,180 | -12,302 |
Other, net liability | 0 | 4 |
Total, gross liability | 339,047 | 451,328 |
Total, amounts offset | -103,744 | -146,914 |
Total, net balance sheet amount | 235,303 | 304,414 |
Total, financial instruments | -190,098 | -230,119 |
Total, net liability | $45,205 | $74,295 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Credit Extension Commitments (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||
Credit Extension Commitments [Abstract] | ||||||||
Legally Binding Unfunded Commitments Syndicated | $21,000,000,000 | $23,900,000,000 | ||||||
Carrying Amount Credit Extension Commitments Syndicated | 499,000,000 | 534,000,000 | ||||||
Deferred revenue related to binding unfunded lending commitments | 19,000,000 | 21,000,000 | ||||||
Other Liabilities Reserve For Unfunded Lending Commitments | 480,000,000 | 474,000,000 | 513,000,000 | 518,000,000 | 574,000,000 | 714,000,000 | ||
Notional Amount Of Credit Extension Commitments Under Fair Value Option | 14,700,000,000 | 18,300,000,000 | ||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 491,494,000,000 | 530,383,000,000 | ||||||
Expire After One Year Through Three Years | 128,890,000,000 | 108,926,000,000 | ||||||
Expire After Three Years Through Five Years | 158,222,000,000 | 157,253,000,000 | ||||||
Expire After Five Years | 41,438,000,000 | 47,095,000,000 | ||||||
Notional Amount Of Credit Extension Commitments | 820,044,000,000 | 843,657,000,000 | ||||||
External Credit Rating, Investment Grade [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Notional amount of Sblcs and financial guarantees | 28,600,000,000 | 31,500,000,000 | ||||||
External Credit Rating, Non Investment Grade [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Notional amount of Sblcs and financial guarantees | 10,100,000,000 | 11,600,000,000 | ||||||
Legally Binding Commitments [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 112,458,000,000 | 132,521,000,000 | ||||||
Expire After One Year Through Three Years | 128,890,000,000 | 108,926,000,000 | ||||||
Expire After Three Years Through Five Years | 158,222,000,000 | 157,253,000,000 | ||||||
Expire After Five Years | 41,438,000,000 | 47,095,000,000 | ||||||
Notional Amount Of Credit Extension Commitments | 441,008,000,000 | 445,795,000,000 | ||||||
Loan Commitments [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 84,608,000,000 | 103,791,000,000 | ||||||
Expire After One Year Through Three Years | 102,677,000,000 | 83,885,000,000 | ||||||
Expire After Three Years Through Five Years | 133,045,000,000 | 130,805,000,000 | ||||||
Expire After Five Years | 22,056,000,000 | 19,942,000,000 | ||||||
Notional Amount Of Credit Extension Commitments | 342,386,000,000 | 338,423,000,000 | ||||||
Home Equity [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 3,711,000,000 | 2,134,000,000 | ||||||
Expire After One Year Through Three Years | 16,398,000,000 | 13,584,000,000 | ||||||
Expire After Three Years Through Five Years | 21,976,000,000 | 23,344,000,000 | ||||||
Expire After Five Years | 14,631,000,000 | 21,856,000,000 | ||||||
Notional Amount Of Credit Extension Commitments | 56,716,000,000 | 60,918,000,000 | ||||||
Financial Standby Letter Of Credit And Financial Guarantee [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 22,536,000,000 | [1] | 24,593,000,000 | [1] | ||||
Expire After One Year Through Three Years | 9,739,000,000 | [1] | 11,387,000,000 | [1] | ||||
Expire After Three Years Through Five Years | 2,437,000,000 | [1] | 3,094,000,000 | [1] | ||||
Expire After Five Years | 4,461,000,000 | [1] | 4,751,000,000 | [1] | ||||
Notional Amount Of Credit Extension Commitments | 39,173,000,000 | [1] | 43,825,000,000 | [1] | ||||
Financial Standby Letter Of Credit And Financial Guarantee [Member] | Consumer Letter of Credit [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Notional Amount Of Credit Extension Commitments | 537,000,000 | 669,000,000 | ||||||
Letter of Credit [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 1,603,000,000 | 2,003,000,000 | ||||||
Expire After One Year Through Three Years | 76,000,000 | 70,000,000 | ||||||
Expire After Three Years Through Five Years | 764,000,000 | 10,000,000 | ||||||
Expire After Five Years | 290,000,000 | 546,000,000 | ||||||
Notional Amount Of Credit Extension Commitments | 2,733,000,000 | 2,629,000,000 | ||||||
Credit Card Lines [Member] | ||||||||
Notional Amount of Credit Extension Commitments [Abstract] | ||||||||
Expire in One Year or Less | 379,036,000,000 | [2] | 397,862,000,000 | [2] | ||||
Notional Amount Of Credit Extension Commitments | 379,036,000,000 | [2] | 397,862,000,000 | [2] | ||||
Unfunded loan commitments [Member] | ||||||||
Credit Extension Commitments [Abstract] | ||||||||
Fair Value Carrying Amount Liabilities | $412,000,000 | $528,000,000 | ||||||
[1] | The notional amounts of SBLCs and financial guarantees classified as investment grade and non-investment grade based on the credit quality of the underlying reference name within the instrument were $28.6 billion and $10.1 billion at September 30, 2013, and $31.5 billion and $11.6 billion at December 31, 2012. Amounts include consumer SBLCs of $537 million and $669 million at September 30, 2013 and December 31, 2012. | |||||||
[2] | Includes business card unused lines of credit. |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Guarantor Obligations [Line Items] | |||||
Unfunded equity investment commitments | $235,000,000 | $235,000,000 | $307,000,000 | ||
Commitment to purchase residential mortgage and commercial real estate loans | 1,400,000,000 | 1,400,000,000 | 1,300,000,000 | ||
Forward Dated Resale and Securities Borrowing Agreements Commitment | 92,300,000,000 | 92,300,000,000 | 67,300,000,000 | ||
Forward Dated Repurchase And Securities Lending Agreements Commitment | 59,100,000,000 | 59,100,000,000 | 42,300,000,000 | ||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
2013 | 731,000,000 | 731,000,000 | |||
2014 | 2,700,000,000 | 2,700,000,000 | |||
2015 | 2,400,000,000 | 2,400,000,000 | |||
2016 | 2,000,000,000 | 2,000,000,000 | |||
2017 | 1,600,000,000 | 1,600,000,000 | |||
Thereafter | 7,100,000,000 | 7,100,000,000 | |||
Notional Amount of Derivatives | 1,495,423,000,000 | 1,495,423,000,000 | 1,600,315,000,000 | ||
Life Insurance Book Value Protection, Fair Value Liability | 42,000,000 | 42,000,000 | 52,000,000 | ||
Merchant Services Transactions Processed And Settled By Sponsored Entitites | 154,700,000,000 | 153,900,000,000 | 460,900,000,000 | 442,700,000,000 | |
Losses As Result Of Cardholder Disputed Transactions | 4,000,000 | 3,000,000 | 12,000,000 | 7,000,000 | |
Noncontrolling Interest, Ownership Percentage by Parent | 49.00% | 49.00% | |||
Merchant escrow deposits held as collateral | 207,000,000 | 207,000,000 | 202,000,000 | ||
Guarantor Obligations, Maximum Exposure, Undiscounted | 260,400,000,000 | 260,400,000,000 | 263,900,000,000 | ||
Loss Contingency Accrual, at Carrying Value | 300,000,000 | 300,000,000 | 510,000,000 | ||
Payment Protection Insurance Claims Expense | 66,000,000 | 267,000,000 | 95,000,000 | 467,000,000 | |
Litigation Settlement, Expense | 1,100,000,000 | 1,600,000,000 | 3,800,000,000 | 3,300,000,000 | |
Loss Contingency, Range of Possible Loss, Minimum | 0 | 0 | |||
Loss Contingency, Range of Possible Loss, Maximum | 5,100,000,000 | 5,100,000,000 | |||
522110 Commercial Banking [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional Amount of Derivatives | 2,400,000,000 | 2,400,000,000 | 2,900,000,000 | ||
S P Es [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional Amount of Derivatives | 1,400,000,000 | 1,400,000,000 | 1,400,000,000 | ||
Financial Guarantee [Member] | Guarantee Life Insurance Book Value Protection Derivative [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional Amount of Derivatives | 13,300,000,000 | 13,300,000,000 | 13,400,000,000 | ||
Financial Guarantee [Member] | Guarantee Life Insurance Book Value Protection Derivative [Member] | Maximum [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional Amount of Derivatives | 3,000,000,000 | 3,000,000,000 | 3,000,000,000 | ||
Financial Guarantee [Member] | Guarantee Employee Retirement Protection Derivative [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional Amount of Derivatives | 6,100,000,000 | 6,100,000,000 | 18,400,000,000 | ||
Payment Guarantee [Member] | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Registration Payment Arrangement, Maximum Potential Consideration | $6,700,000,000 | $6,700,000,000 | $6,800,000,000 |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 14, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Employee Stock Option [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | 8.20% Non-Cumulative Preferred Stock, Series H [Member] | Dividend Declared [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | ||||||
8.20% Non-Cumulative Preferred Stock, Series H [Member] | Fixed-to-Floating Rate Semi-annual Non-Cumulative Preferred Stock, Series U [Member] | ||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Cash dividends declared per common share (dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 | |||||||||||||
Stock repurchase program, authorized amount | $5,000,000,000 | ||||||||||||||||
Redempmtion of stock (shares) | 60,000,000 | 139,600,000 | |||||||||||||||
Redempmtion of stock | 6,561,000,000 | 866,000,000 | 1,900,000,000 | -6,600,000,000 | 100,000,000 | 6,461,000,000 | 6,500,000,000 | ||||||||||
Stock issued (shares) | 73,000,000 | ||||||||||||||||
Shares paid for tax withholding for share based compensation (shares) | 28,000,000 | ||||||||||||||||
Share-based compensation, number of shares authorized (shares) | 1,800,000,000 | 1,800,000,000 | |||||||||||||||
Preferred stock dividends | -255,000,000 | -365,000,000 | -373,000,000 | -993,000,000 | -1,107,000,000 | -993,000,000 | -1,107,000,000 | ||||||||||
Issuance of preferred stock | $1,008,000,000 | $667,000,000 | $1,008,000,000 | $667,000,000 | $1,000,000,000 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||||
Beginning balance, Derivatives | ($2,869) | ($3,785) | ||||||
Beginning balance, Employee Benefit Plans | -4,456 | [1] | -4,391 | [1] | ||||
Beginning balance, Foreign Currency | -377 | [2] | -364 | [2] | ||||
Beginning balance | -2,797 | -5,437 | ||||||
Net change, after tax, Securities | -631 | 2,365 | -5,770 | 2,971 | ||||
Net change, after tax, Derivatives | 365 | 535 | ||||||
Net change, after-tax, Employee Benefit Plans | 1,380 | 75 | 1,513 | [1] | 1,106 | [1] | ||
Net change, after tax, Foreign Currency | -134 | [2] | 14 | [2] | ||||
Other comprehensive income, net of tax | 886 | 2,689 | -4,026 | 4,626 | ||||
Ending balance, Securities | -860 | -860 | ||||||
Ending balance, Derivatives | -2,504 | -3,250 | -2,504 | -3,250 | ||||
Ending balance, Employee Benefit Plans | -2,943 | [1] | -3,285 | [1] | -2,943 | [1] | -3,285 | [1] |
Ending balance, Foreign Currency | -511 | [2] | -350 | [2] | -511 | [2] | -350 | [2] |
Ending balance | -6,823 | -811 | -6,823 | -811 | ||||
Changes in Accumulated Other Comprehensive Income [Abstract] | ||||||||
Net change in fair value of accumulated OCI, tax effect, Securities | 528 | |||||||
Net change in fair value recorded in accumulated OCI, before tax, Derivatives | -3 | 123 | ||||||
Net change in fair value recorded in accumulated OCI, tax effect, Derivatives | 0 | -46 | ||||||
Net change in fair value recorded in accumulated OCI, after tax, Derivatives | -3 | 77 | ||||||
Net realized (gains) losses reclassified into earnings, before tax, Derivatives | 584 | 726 | ||||||
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax | -216 | -268 | ||||||
Net realized (gains) losses reclassified into earnings, after tax, Derivatives | 368 | 458 | ||||||
Net change, before tax, Derivatives | 581 | 849 | ||||||
Net change, tax effect, Derivatives | -216 | -314 | ||||||
Net change, after tax, Derivatives | 365 | 535 | ||||||
Net change in fair value related to pension plan remeasurement, before Tax | 2,138 | 0 | ||||||
Net change in fair value related to pension plan remeasurement, tax effect | -795 | 0 | ||||||
Net change in fair value related to pension plan remeasurement, after tax | 1,400 | -1,343 | 0 | |||||
Net realized (gains) losses reclassified into earnings, before tax, Employee Benefit Plans | 204 | 371 | ||||||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Realized (Gains) Losses Reclassified into Earnings, Tax | -68 | -135 | ||||||
Net realized (gains) losses reclassified into earnings, after tax, Employee Benefit Plans | -136 | -236 | ||||||
Settlements and curtailments, before tax | 46 | 1,381 | ||||||
Settlements and curtailments, tax effect | -12 | -511 | ||||||
Settlements and curtailments, after tax | 34 | 870 | ||||||
Net change, before tax, Employee Benefit Plans | -2,388 | -1,752 | ||||||
Net change, tax effect, Employee Benefit Plans | -875 | -646 | ||||||
Net change, after-tax, Employee Benefit Plans | 1,380 | 75 | 1,513 | [1] | 1,106 | [1] | ||
Net change in fair value recorded in accumulated OCI, before tax, Foreign Currency | 214 | -340 | ||||||
Net change in fair value recorded in accumulated OCI, tax effect, Foreign Currency | -347 | 354 | ||||||
Net change in fair value recorded in accumulated OCI, after tax, Foreign Currency | -133 | 14 | ||||||
Net realized (gains) losses reclassified into earnings, before tax, Foreign Currency | 31 | 2 | ||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax | -32 | -2 | ||||||
Net realized (gains) losses reclassified into earnings, after tax, Foreign Currency | -1 | 0 | ||||||
Net change, before tax, Foreign Currency | 245 | -338 | ||||||
Net change, tax effect , Foreign Currency | -379 | 352 | ||||||
Net change, after tax, Foreign Currency | -134 | [2] | 14 | [2] | ||||
Other comprehensive income, before tax | -5,957 | 6,917 | ||||||
Other comprehensive income, tax effect | 1,931 | -2,291 | ||||||
Other comprehensive income, net of tax | 886 | 2,689 | -4,026 | 4,626 | ||||
Available-for-sale Debt Securities [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||||
Beginning balance, Securities | 4,443 | 3,100 | ||||||
Net change, after tax, Securities | -5,303 | 2,645 | ||||||
Ending balance, Securities | 5,745 | 5,745 | ||||||
Changes in Accumulated Other Comprehensive Income [Abstract] | ||||||||
Net change in fair value recorded in accumulated OCI, before tax, Securities | -7,573 | 5,576 | ||||||
Net change in fair value of accumulated OCI, tax effect, Securities | 2,813 | -2,024 | ||||||
Net change in fair value recorded in accumulated OCI, after tax, Securities | -4,760 | 3,552 | ||||||
Net realized (gains) losses reclassified into earnings, before tax, Securities | -861 | -1,439 | ||||||
Net realized (gains) losses reclassified into earnings, tax effect, Securities | 318 | 532 | ||||||
Net realized (gains) losses reclassified into earnings, after tax, Securities | 543 | 907 | ||||||
Net change, before tax, Securities | -8,434 | 4,137 | ||||||
Net change, tax effect, Securities | 3,131 | -1,492 | ||||||
Net change, after-tax, Securities | -5,303 | 2,645 | ||||||
Available-for-sale Marketable Equity Securities [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||||
Beginning balance, Securities | 462 | 3 | ||||||
Net change, after tax, Securities | -467 | 326 | ||||||
Ending balance, Securities | -5 | 329 | -5 | 329 | ||||
Changes in Accumulated Other Comprehensive Income [Abstract] | ||||||||
Net change in fair value recorded in accumulated OCI, before tax, Securities | 28 | 542 | ||||||
Net change in fair value of accumulated OCI, tax effect, Securities | -10 | -200 | ||||||
Net change in fair value recorded in accumulated OCI, after tax, Securities | 18 | 342 | ||||||
Net realized (gains) losses reclassified into earnings, before tax, Securities | -765 | -25 | ||||||
Net realized (gains) losses reclassified into earnings, tax effect, Securities | 280 | 9 | ||||||
Net realized (gains) losses reclassified into earnings, after tax, Securities | 485 | 16 | ||||||
Net change, before tax, Securities | -737 | 517 | ||||||
Net change, tax effect, Securities | 270 | -191 | ||||||
Net change, after-tax, Securities | ($467) | $326 | ||||||
[1] | During the three months ended September 30, 2013, the Corporation merged certain pension plans into one plan. For additional information, see Note 15 – Pension, Postretirement and Certain Compensation Plans. | |||||||
[2] | Net change in fair value represents the impact of changes in spot foreign exchange rates on the Corporation's net investment in non-U.S. operations and related hedges. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income - Reclassifications Out of Accumulated OCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income [Line Items] | ||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | $2,138 | $0 | ||
Gains on sales of debt securities | 356 | 339 | 881 | 1,491 |
Other-than-temporary impairment | -8 | -9 | -21 | -70 |
Equity Investment Gains Losses | 1,184 | 238 | 2,427 | 1,371 |
Net interest income | 10,266 | 9,938 | 31,479 | 30,332 |
Trading account profits | 1,266 | 1,239 | 6,193 | 5,078 |
Other income | 260 | -928 | 72 | -1,392 |
Personnel | -8,310 | -8,431 | -26,732 | -27,348 |
Income (loss) before income taxes | 4,845 | 1,110 | 12,327 | 4,976 |
Income tax expense (benefit) | 2,348 | 770 | 4,335 | 1,520 |
Net income (loss) | 2,497 | 340 | 7,992 | 3,456 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Net income (loss) | 525 | 191 | ||
Available-for-sale debt securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of debt securities | 881 | 1,491 | ||
Other-than-temporary impairment | -20 | -52 | ||
Income (loss) before income taxes | 861 | 1,439 | ||
Income tax expense (benefit) | 318 | 532 | ||
Net income (loss) | 543 | 907 | ||
Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Income (loss) before income taxes | -584 | -726 | ||
Income tax expense (benefit) | -216 | -268 | ||
Net income (loss) | -368 | -458 | ||
Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Commodity Contracts [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Trading account profits | -1 | 0 | ||
Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Equity compensation contracts [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | 217 | -89 | ||
Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest Rate Contracts [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Net interest income | -818 | -637 | ||
Other income | 18 | 0 | ||
Employee benefit plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Income (loss) before income taxes | -204 | -431 | ||
Income tax expense (benefit) | -68 | -157 | ||
Net income (loss) | -136 | -274 | ||
Employee benefit plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Prior Service Costs [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | -3 | -9 | ||
Employee benefit plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Transition Obligation [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | 0 | -31 | ||
Employee benefit plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Actuarial Losses [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | -199 | -329 | ||
Employee benefit plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Settlements and Curtailments [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | -2 | -62 | ||
Foreign currency [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Other income | -31 | -2 | ||
Income (loss) before income taxes | -31 | -2 | ||
Income tax expense (benefit) | -32 | -2 | ||
Net income (loss) | 1 | 0 | ||
Equity Securities [Member] | Available-for-sale debt securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income [Line Items] | ||||
Equity Investment Gains Losses | 765 | 25 | ||
Income (loss) before income taxes | 765 | 25 | ||
Income tax expense (benefit) | 280 | 9 | ||
Net income (loss) | $485 | $16 |
Earnings_Per_Common_Share_Basi
Earnings Per Common Share - Basic (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings (loss) per common share | ||||
Net income (loss) | $2,497 | $340 | $7,992 | $3,456 |
Preferred stock dividends | -279 | -373 | -1,093 | -1,063 |
Net income (loss) applicable to common shareholders | 2,218 | -33 | 6,899 | 2,393 |
Dividends and undistributed earnings allocated to participating securities | -1 | 0 | -2 | -2 |
Net income (loss) allocated to common shareholders | $2,217 | ($33) | $6,897 | $2,391 |
Average common shares issued and outstanding (in thousands) | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 |
Earnings (loss) per common share | $0.21 | $0 | $0.64 | $0.22 |
Earnings_Per_Common_Share_Dilu
Earnings Per Common Share - Diluted (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Diluted earnings (loss) per common share | ||||||||
Net income (loss) applicable to common shareholders | $2,218 | ($33) | $6,899 | $2,393 | ||||
Add preferred stock dividends due to assumed conversions | 75 | 0 | 225 | 0 | ||||
Dividends and undistributed earnings allocated to participating securities | -1 | 0 | -2 | -2 | ||||
Net income (loss) allocated to common shareholders | $2,292 | ($33) | $7,122 | $2,391 | ||||
Average common shares issued and outstanding | 10,718,918 | 10,776,173 | 10,764,216 | 10,735,461 | ||||
Dilutive potential common shares | 763,308 | [1] | 0 | [1] | 759,433 | [1] | 91,042 | [1] |
Total diluted average common shares issued and outstanding (in thousands) | 11,482,226 | 10,776,173 | 11,523,649 | 10,826,503 | ||||
Diluted earnings (loss) per common share | $0.20 | $0 | $0.62 | $0.22 | ||||
[1] | Includes incremental shares from restricted stock units, restricted stock, stock options and warrants |
Earnings_Per_Common_Share_Deta
Earnings Per Common Share (Details Textual) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options [Member] | ||||
Earnings Per Common Share (Textual) [Abstract] | ||||
Average options to purchase shares of common stock | 123 | 159 | 127 | 166 |
Warrant [Member] | ||||
Earnings Per Common Share (Textual) [Abstract] | ||||
Average options to purchase shares of common stock | 263 | 272 | 272 | 272 |
Series L Preferred Stock [Member] | Mandatorily Convertible [Member] | ||||
Earnings Per Common Share (Textual) [Abstract] | ||||
Average options to purchase shares of common stock | 62 | 62 | 62 | 62 |
Series T Preferred Stock [Member] | ||||
Earnings Per Common Share (Textual) [Abstract] | ||||
Average options to purchase shares of common stock | 700 | 700 |
Pension_and_Postretirement_Pla2
Pension and Postretirement Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Employee benefit plan adjustments | $1,400 | ($1,343) | $0 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Restricted stock units authorized to be converted to common stock upon vesting (shares) | 2 | 2 | ||||||
Key Associate Stock Plan [Member] | ||||||||
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Share-based compensation, restricted stock units granted (shares) | 183 | |||||||
Qualified Pension Plans [Member] | ||||||||
Net Periodic benefit cost (income) | ||||||||
Service cost | 0 | 5 | 0 | 236 | ||||
Interest cost | 157 | 170 | 459 | 511 | ||||
Expected return on plan assets | -258 | -313 | -763 | -934 | ||||
Amortization of transition obligation | 0 | 0 | ||||||
Amortization of prior service cost (credits) | 0 | 0 | 0 | 9 | ||||
Amortization of net actuarial loss (gain) | 63 | 116 | 204 | 354 | ||||
Recognized loss due to settlements and curtailments | 0 | 17 | 58 | |||||
Net periodic benefit cost (income) | -38 | -22 | -83 | 234 | ||||
Nonqualified and Other Pension Plans [Member] | ||||||||
Net Periodic benefit cost (income) | ||||||||
Service cost | 0 | [1] | 0 | [1] | 1 | [1] | 0 | [1] |
Interest cost | 30 | [1] | 34 | [1] | 89 | [1] | 104 | [1] |
Expected return on plan assets | -27 | [1] | -38 | [1] | -82 | [1] | -114 | [1] |
Amortization of transition obligation | 0 | [1] | 0 | [1] | ||||
Amortization of prior service cost (credits) | 0 | [1] | 0 | [1] | 0 | [1] | -4 | [1] |
Amortization of net actuarial loss (gain) | 7 | [1] | 2 | [1] | 19 | [1] | 7 | [1] |
Recognized loss due to settlements and curtailments | 2 | [1] | 2 | [1] | 4 | [1] | ||
Net periodic benefit cost (income) | 12 | [1] | -2 | [1] | 29 | [1] | -3 | [1] |
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Estimated future employer contributions in current fiscal year | 103 | |||||||
Contribution made under group annuity contract | 78 | |||||||
Postretirement Health and Life Plans [Member] | ||||||||
Net Periodic benefit cost (income) | ||||||||
Service cost | 1 | 3 | 8 | 10 | ||||
Interest cost | 13 | 19 | 41 | 55 | ||||
Expected return on plan assets | -2 | -3 | -4 | -6 | ||||
Amortization of transition obligation | 15 | 31 | ||||||
Amortization of prior service cost (credits) | 1 | 2 | 3 | 4 | ||||
Amortization of net actuarial loss (gain) | -16 | -21 | -26 | -31 | ||||
Recognized loss due to settlements and curtailments | 0 | 0 | 0 | |||||
Net periodic benefit cost (income) | -3 | 15 | 22 | 63 | ||||
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Estimated future employer contributions in current fiscal year | 107 | |||||||
Contribution made under group annuity contract | 81 | |||||||
Non-U.S. Pension Plans [Member] | ||||||||
Net Periodic benefit cost (income) | ||||||||
Service cost | 8 | 10 | 25 | 30 | ||||
Interest cost | 26 | 25 | 76 | 74 | ||||
Expected return on plan assets | -31 | -36 | -94 | -105 | ||||
Amortization of transition obligation | 0 | 0 | ||||||
Amortization of prior service cost (credits) | 0 | 0 | 0 | 0 | ||||
Amortization of net actuarial loss (gain) | 1 | -2 | 2 | -6 | ||||
Recognized loss due to settlements and curtailments | 0 | -7 | 0 | |||||
Net periodic benefit cost (income) | 4 | -3 | 2 | -7 | ||||
Pensions And Postretirement Benefits (Textuals) [Abstract] | ||||||||
Estimated future employer contributions in current fiscal year | 123 | |||||||
Contribution made under group annuity contract | $112 | |||||||
[1] | Includes nonqualified pension plans and the terminated Merrill Lynch U.S. pension plan. |
Fair_Value_Measurements_Recurr
Fair Value Measurements - Recurring Fair Value (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $102,899 | $98,670 | ||||||
Trading account assets | 201,206 | 227,775 | ||||||
Derivative assets | 53,161 | 53,497 | ||||||
Other debt securities carried at fair value | 31,453 | 23,944 | ||||||
Mortgage servicing rights | 5,058 | 5,827 | 5,716 | 5,087 | 5,708 | 7,378 | ||
Loans held-for-sale | 8,217 | 11,659 | ||||||
Other assets | 18,204 | 26,490 | ||||||
Liabilities | ||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 61,917 | 42,639 | ||||||
Derivative liabilities | 44,568 | 46,016 | ||||||
Long-term debt | 47,401 | 49,161 | ||||||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 500 | 2,000 | ||||||
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount | 350 | |||||||
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 785 | |||||||
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount | 40 | |||||||
Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 102,899 | 98,670 | ||||||
Trading account assets | 201,206 | 227,775 | ||||||
Derivative assets | 53,161 | [1] | 53,497 | [1] | ||||
Total available-for-sale debt securities | 234,896 | 286,906 | ||||||
Other debt securities carried at fair value | 31,453 | 23,944 | ||||||
Loans and leases | 10,196 | 9,002 | ||||||
Mortgage servicing rights | 5,058 | 5,716 | ||||||
Loans held-for-sale | 8,217 | 11,659 | ||||||
Other assets | 18,204 | 26,490 | ||||||
Total assets | 665,290 | 743,659 | ||||||
Liabilities | ||||||||
Interest-bearing deposits in U.S. offices | 1,916 | 2,262 | ||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 61,917 | 42,639 | ||||||
Total trading account liabilities | 82,713 | 73,587 | ||||||
Derivative liabilities | 44,568 | [1] | 46,016 | [1] | ||||
Commercial paper and other short-term borrowings | 2,844 | 4,074 | ||||||
Accrued expenses and other liabilities | 9,622 | 16,594 | ||||||
Long-term debt | 47,401 | 49,161 | ||||||
Total liabilities | 250,981 | 234,333 | ||||||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | [2] | [3] | ||||||
Trading account assets | 111,497 | [2] | 116,345 | [3] | ||||
Derivative assets | 4,329 | [1],[2] | 2,997 | [1],[3] | ||||
Total available-for-sale debt securities | 3,001 | [2] | 24,171 | [3] | ||||
Other debt securities carried at fair value | 9,740 | [2] | 9,642 | [3] | ||||
Loans and leases | [2] | [3] | ||||||
Mortgage servicing rights | [2] | [3] | ||||||
Loans held-for-sale | [2] | [3] | ||||||
Other assets | 14,009 | [2] | 18,535 | [3] | ||||
Total assets | 142,576 | [2] | 171,690 | [3] | ||||
Liabilities | ||||||||
Interest-bearing deposits in U.S. offices | [2] | [3] | ||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | [2] | [3] | ||||||
Total trading account liabilities | 69,950 | [2] | 61,565 | [3] | ||||
Derivative liabilities | 5,167 | [1],[2] | 2,859 | [1],[3] | ||||
Commercial paper and other short-term borrowings | [2] | [3] | ||||||
Accrued expenses and other liabilities | 8,627 | [2] | 15,457 | [3] | ||||
Long-term debt | [2] | [3] | ||||||
Total liabilities | 83,744 | [2] | 79,881 | [3] | ||||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 102,899 | [2] | 98,670 | [3] | ||||
Trading account assets | 80,683 | [2] | 101,871 | [3] | ||||
Derivative assets | 977,921 | [1],[2] | 1,372,398 | [1],[3] | ||||
Total available-for-sale debt securities | 226,952 | [2] | 257,644 | [3] | ||||
Other debt securities carried at fair value | 21,713 | [2] | 14,302 | [3] | ||||
Loans and leases | 7,180 | [2] | 6,715 | [3] | ||||
Mortgage servicing rights | [2] | 0 | [3] | |||||
Loans held-for-sale | 7,304 | [2] | 8,926 | [3] | ||||
Other assets | 2,317 | [2] | 4,826 | [3] | ||||
Total assets | 1,426,969 | [2] | 1,865,352 | [3] | ||||
Liabilities | ||||||||
Interest-bearing deposits in U.S. offices | 1,916 | [2] | 2,262 | [3] | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | 61,917 | [2] | 42,639 | [3] | ||||
Total trading account liabilities | 12,714 | [2] | 11,958 | [3] | ||||
Derivative liabilities | 962,675 | [1],[2] | 1,355,309 | [1],[3] | ||||
Commercial paper and other short-term borrowings | 2,844 | [2] | 4,074 | [3] | ||||
Accrued expenses and other liabilities | 964 | [2] | 1,122 | [3] | ||||
Long-term debt | 45,338 | [2] | 46,860 | [3] | ||||
Total liabilities | 1,088,368 | [2] | 1,464,224 | [3] | ||||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | ||||||||
Trading account assets | 9,026 | 9,559 | ||||||
Derivative assets | 7,527 | [1] | 8,073 | [1] | 10,000 | |||
Total available-for-sale debt securities | 4,943 | 5,091 | ||||||
Other debt securities carried at fair value | 0 | [2] | 0 | |||||
Loans and leases | 3,016 | 2,287 | ||||||
Mortgage servicing rights | 5,058 | 5,716 | ||||||
Loans held-for-sale | 913 | [4],[5] | 2,733 | [4],[5] | ||||
Other assets | 1,878 | 3,129 | ||||||
Total assets | 32,361 | 36,588 | ||||||
Liabilities | ||||||||
Interest-bearing deposits in U.S. offices | ||||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||||||
Total trading account liabilities | 49 | 64 | ||||||
Derivative liabilities | 6,759 | [1] | 6,605 | [1] | 7,000 | |||
Commercial paper and other short-term borrowings | ||||||||
Accrued expenses and other liabilities | 31 | 15 | ||||||
Long-term debt | 2,063 | 2,301 | ||||||
Total liabilities | 8,902 | 8,985 | ||||||
Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | [6] | [6] | ||||||
Trading account assets | [6] | [6] | ||||||
Derivative assets | -936,616 | [1],[6] | -1,329,971 | [1],[6] | ||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Other debt securities carried at fair value | [6] | [6] | ||||||
Loans and leases | [6] | [6] | ||||||
Mortgage servicing rights | [6] | [6] | ||||||
Loans held-for-sale | [6] | [6] | ||||||
Other assets | [6] | [6] | ||||||
Total assets | -936,616 | [6] | -1,329,971 | [6] | ||||
Liabilities | ||||||||
Interest-bearing deposits in U.S. offices | [6] | [6] | ||||||
Federal funds purchased and securities loaned or sold under agreements to repurchase | [6] | [6] | ||||||
Total trading account liabilities | [6] | [6] | ||||||
Derivative liabilities | -930,033 | [1],[6] | -1,318,757 | [1],[6] | ||||
Commercial paper and other short-term borrowings | [6] | [6] | ||||||
Accrued expenses and other liabilities | [6] | [6] | ||||||
Long-term debt | [6] | [6] | ||||||
Total liabilities | -930,033 | [6] | -1,318,757 | [6] | ||||
US Government Corporations and Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 24,395 | 23,430 | ||||||
US Government Corporations and Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 24,046 | [2] | 22,351 | [3] | ||||
US Government Corporations and Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 349 | [2] | 1,079 | [3] | ||||
US Government Corporations and Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | ||||||||
US Government Corporations and Agencies Securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | [6] | [6] | ||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 26,860 | 22,492 | ||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 23,256 | [2] | 19,852 | [3] | ||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 3,604 | [2] | 2,640 | [3] | ||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | ||||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | [6] | [6] | ||||||
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 23,621 | 20,244 | ||||||
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 22,119 | [2] | 18,875 | [3] | ||||
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 1,502 | [2] | 1,369 | [3] | ||||
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | ||||||||
Foreign Government Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | [6] | [6] | ||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 7,837 | 7,421 | ||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 529 | [2] | 487 | [3] | ||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 7,259 | [2] | 6,870 | [3] | ||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | 49 | 64 | ||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Liabilities | ||||||||
Total trading account liabilities | [6] | [6] | ||||||
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Trading account assets | 59,250 | 86,974 | ||||||
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 46,478 | [2] | 57,655 | [3] | ||||
Other debt securities carried at fair value | 491 | [3] | ||||||
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 12,772 | [2] | 29,319 | [3] | ||||
Other debt securities carried at fair value | 0 | [3] | ||||||
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Trading account assets | ||||||||
Other debt securities carried at fair value | 0 | |||||||
U.S. government and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Trading account assets | [6] | [6] | ||||||
Other debt securities carried at fair value | [6] | |||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Trading account assets | 34,267 | 37,900 | ||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 974 | [2] | 1,292 | [3] | ||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 29,513 | [2] | 32,882 | [3] | ||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 3,780 | 3,726 | ||||||
Corporate securities, trading loans and other [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Trading account assets | [6] | [6] | ||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Trading account assets | 48,300 | 43,315 | ||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 31,911 | [2] | 28,144 | [3] | ||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 16,051 | [2] | 14,626 | [3] | ||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 338 | 545 | ||||||
Equity securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Trading account assets | [6] | [6] | ||||||
Non-U.S. sovereign debt [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Trading account assets | 44,125 | 42,746 | ||||||
Non-U.S. sovereign debt [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 32,134 | [2] | 29,254 | [3] | ||||
Non-U.S. sovereign debt [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 11,603 | [2] | 13,139 | [3] | ||||
Non-U.S. sovereign debt [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 388 | 353 | ||||||
Non-U.S. sovereign debt [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Trading account assets | [6] | [6] | ||||||
Mortgage trading loans and ABS [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Trading account assets | 15,264 | 16,840 | ||||||
Mortgage trading loans and ABS [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Trading account assets | [2] | [3] | ||||||
Mortgage trading loans and ABS [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 10,744 | [2] | 11,905 | [3] | ||||
Mortgage trading loans and ABS [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Trading account assets | 4,520 | 4,935 | ||||||
Mortgage trading loans and ABS [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Trading account assets | [6] | [6] | ||||||
U.S. Treasury securities and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 2,971 | 24,472 | ||||||
U.S. Treasury securities and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 514 | [2] | 21,514 | [3] | ||||
U.S. Treasury securities and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 2,457 | [2] | 2,958 | [3] | ||||
U.S. Treasury securities and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | ||||||||
U.S. Treasury securities and agency securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 169,025 | 188,149 | ||||||
Other debt securities carried at fair value | 18,626 | 13,073 | ||||||
Agency [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Other debt securities carried at fair value | 0 | [2] | [3] | |||||
Agency [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 169,025 | [2] | 188,149 | [3] | ||||
Other debt securities carried at fair value | 18,626 | [2] | 13,073 | [3] | ||||
Agency [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 0 | 0 | ||||||
Other debt securities carried at fair value | 0 | [2] | 0 | |||||
Agency [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Other debt securities carried at fair value | [6] | [6] | ||||||
Agency-collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 27,335 | 37,538 | ||||||
Other debt securities carried at fair value | 563 | 929 | ||||||
Agency-collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Other debt securities carried at fair value | 0 | [2] | [3] | |||||
Agency-collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 27,335 | [2] | 37,538 | [3] | ||||
Other debt securities carried at fair value | 563 | [2] | 929 | [3] | ||||
Agency-collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | ||||||||
Other debt securities carried at fair value | 0 | [2] | 0 | |||||
Agency-collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | |||||||
Other debt securities carried at fair value | [6] | [6] | ||||||
Non-agency residential [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 6,929 | 9,494 | ||||||
Non-agency residential [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Non-agency residential [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 6,929 | [2] | 9,494 | [3] | ||||
Non-agency residential [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 0 | 0 | ||||||
Non-agency residential [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Non-agency commercial [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 2,827 | 3,924 | ||||||
Other debt securities carried at fair value | 758 | |||||||
Non-agency commercial [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Other debt securities carried at fair value | 0 | [2] | ||||||
Non-agency commercial [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 2,827 | [2] | 3,914 | [3] | ||||
Other debt securities carried at fair value | 758 | [2] | ||||||
Non-agency commercial [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 0 | 10 | ||||||
Other debt securities carried at fair value | 0 | [2] | ||||||
Non-agency commercial [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Other debt securities carried at fair value | [6] | |||||||
Non-U.S. Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 6,240 | 5,618 | ||||||
Other debt securities carried at fair value | 11,506 | 9,451 | ||||||
Non-U.S. Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 2,467 | [2] | 2,637 | [3] | ||||
Other debt securities carried at fair value | 9,740 | [2] | 9,151 | [3] | ||||
Non-U.S. Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 3,668 | [2] | 2,981 | [3] | ||||
Other debt securities carried at fair value | 1,766 | [2] | 300 | [3] | ||||
Non-U.S. Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 105 | |||||||
Other debt securities carried at fair value | 0 | [2] | 0 | |||||
Non-U.S. Securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Other debt securities carried at fair value | [6] | [6] | ||||||
Corporate/Agency bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 1,170 | 1,450 | ||||||
Corporate/Agency bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Corporate/Agency bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 1,162 | [2] | 1,358 | [3] | ||||
Corporate/Agency bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 8 | 92 | ||||||
Corporate/Agency bonds [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Other taxable securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 13,165 | 12,128 | ||||||
Other taxable securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 20 | [2] | 20 | [3] | ||||
Other taxable securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 9,132 | [2] | 8,180 | [3] | ||||
Other taxable securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 4,013 | 3,928 | ||||||
Other taxable securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Tax-exempt securities [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 5,234 | 4,133 | ||||||
Tax-exempt securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [2] | [3] | ||||||
Tax-exempt securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 4,417 | [2] | 3,072 | [3] | ||||
Tax-exempt securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | 817 | 1,061 | ||||||
Tax-exempt securities [Member] | Fair Value, Measurements, Recurring [Member] | Netting Adjustments [Member] | ||||||||
Assets | ||||||||
Total available-for-sale debt securities | [6] | [6] | ||||||
Private Equity Investment [Member] | ||||||||
Liabilities | ||||||||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 940 | |||||||
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 535 | |||||||
US Government Corporations and Agencies Securities [Member] | ||||||||
Assets | ||||||||
Trading account assets | 59,250 | [7] | 86,974 | [7] | ||||
Other debt securities carried at fair value | $0 | $491 | ||||||
[1] | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. | |||||||
[2] | During the nine months ended September 30, 2013, $500 million of other assets were transferred from Level 1 to Level 2 primarily due to a restriction that became effective for a private equity investment. | |||||||
[3] | During 2012, $2.0 billion and $350 million of assets and liabilities were transferred from Level 1 to Level 2, and $785 million and $40 million of assets and liabilities were transferred from Level 2 to Level 1. Of the asset transfers from Level 1 to Level 2, $940 million was due to a restriction that became effective for a private equity investment during 2012, while $535 million of the transfers from Level 2 to Level 1 was due to the lapse of this restriction during 2012. The remaining transfers were the result of additional information associated with certain equities, derivative contracts and private equity investments. | |||||||
[4] | Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||
[5] | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | |||||||
[6] | Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. | |||||||
[7] | Includes $13.4 billion and $30.6 billion of government-sponsored enterprise obligations at September 30, 2013 and December 31, 2012. |
Fair_Value_Measurements_Reconc
Fair Value Measurements - Reconciliation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Short-term borrowings [Member] | Short-term borrowings [Member] | Accrued expenses and other liabilities [Member] | Accrued expenses and other liabilities [Member] | Accrued expenses and other liabilities [Member] | Accrued expenses and other liabilities [Member] | Long-term debt [Member] | Long-term debt [Member] | Long-term debt [Member] | Long-term debt [Member] | Trading Account Assets [Member] | Trading Account Assets [Member] | Trading Account Assets [Member] | Trading Account Assets [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Corporate securities, trading loans and other [Member] | Equity securities [Member] | Equity securities [Member] | Equity securities [Member] | Equity securities [Member] | Non-U.S. sovereign debt [Member] | Non-U.S. sovereign debt [Member] | Non-U.S. sovereign debt [Member] | Non-U.S. sovereign debt [Member] | Mortgage trading loans and ABS [Member] | Mortgage trading loans and ABS [Member] | Mortgage trading loans and ABS [Member] | Mortgage trading loans and ABS [Member] | Derivative assets [Member] | Derivative assets [Member] | Derivative assets [Member] | Derivative assets [Member] | Available-for-sale debt securities [Member] | Available-for-sale debt securities [Member] | Available-for-sale debt securities [Member] | Available-for-sale debt securities [Member] | Agency [Member] | Non-Agency Residential MBS [Member] | Non-Agency Residential MBS [Member] | Non-Agency Commercial MBS [Member] | Non-Agency Commercial MBS [Member] | Non-Agency Commercial MBS [Member] | Non United States Securities [Member] | Non United States Securities [Member] | Non United States Securities [Member] | Corporate/Agency bonds [Member] | Corporate/Agency bonds [Member] | Corporate/Agency bonds [Member] | Corporate/Agency bonds [Member] | Corporate/Agency bonds [Member] | Other taxable securities [Member] | Other taxable securities [Member] | Other taxable securities [Member] | Other taxable securities [Member] | Tax-exempt securities [Member] | Tax-exempt securities [Member] | Tax-exempt securities [Member] | Tax-exempt securities [Member] | Loans and leases [Member] | Loans and leases [Member] | Loans and leases [Member] | Loans and leases [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Mortgage servicing rights [Member] | Loans held-for-sale [Member] | Loans held-for-sale [Member] | Loans held-for-sale [Member] | Loans held-for-sale [Member] | Other assets [Member] | Other assets [Member] | Other assets [Member] | Other assets [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of Trading Account Assets - Corporate Securities, Trading Loans and Other to Trading Account Assets - Mortgage Trading Loans and ABS | $900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs Level(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning | 8,313 | [1] | 10,263 | [2] | 9,559 | [3] | 11,455 | [2] | 2,763 | [1] | 4,459 | [2] | 3,726 | [3] | 6,880 | [2],[4] | 464 | [1] | 597 | [2] | 545 | [3] | 544 | [2] | 401 | [1] | 389 | [2] | 353 | [3] | 342 | [2] | 4,685 | [1] | 4,818 | [2],[5] | 4,935 | [3] | 3,689 | [2],[4] | 1,173 | [1],[6] | 4,601 | [2],[5] | 1,468 | [3],[7] | 5,866 | [2],[8] | 5,042 | [1] | 5,816 | [2] | 5,091 | [3] | 8,012 | [2] | 37 | [2] | 1 | [2] | 860 | [2] | 24 | [2] | 10 | [3] | 40 | [2] | 0 | [3] | 0 | [1] | 93 | [2] | 92 | [3] | 162 | [2] | 8 | [1] | 4,157 | [1] | 4,558 | [2] | 3,928 | [3] | 4,265 | [2] | 877 | [1] | 1,140 | [2] | 1,061 | [3] | 2,648 | [2] | 1,901 | [1],[10],[9] | 1,635 | [10],[2],[9] | 2,287 | [11],[12],[3] | 2,744 | [13],[14],[2] | 5,827 | [1],[10] | 5,708 | [10],[2] | 5,716 | [11],[3] | 7,378 | [14],[2] | 2,153 | [1],[9] | 2,741 | [2],[9] | 2,733 | [12],[3] | 3,387 | [13],[2] | 1,700 | [1],[15] | 3,136 | [16],[2] | 3,129 | [17],[3] | 4,235 | [18],[2] | ||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) in Earnings | 141 | [1] | 202 | [2] | 531 | [3] | 415 | [2] | 133 | [1] | 69 | [2] | 256 | [3] | 192 | [2],[4] | 4 | [1] | 15 | [2] | 54 | [3] | 24 | [2] | 11 | [1] | 7 | [2] | 56 | [3] | 5 | [2] | -7 | [1] | 111 | [2],[5] | 165 | [3] | 194 | [2],[4] | -499 | [1],[6] | -256 | [2],[5] | 186 | [3],[7] | 17 | [2],[8] | 9 | [1] | 7 | [2] | 13 | [3] | -3 | [2] | [2] | 0 | [2] | -69 | [2] | [2] | [3] | [2] | 5 | [1] | 5 | [3] | 0 | [3] | -2 | [2] | 2 | [1] | 0 | [2] | 5 | [3] | 7 | [2] | 2 | [1] | 7 | [2] | 3 | [3] | 61 | [2] | -20 | [1],[10],[9] | 69 | [10],[2],[9] | 80 | [11],[12],[3] | 284 | [13],[14],[2] | 71 | [1],[10] | -360 | [10],[2] | 1,531 | [11],[3] | -1,297 | [14],[2] | 40 | [1],[9] | 86 | [2],[9] | 20 | [12],[3] | 265 | [13],[2] | 3 | [1],[15] | 24 | [16],[2] | -324 | [17],[3] | -110 | [18],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) in OCI | [1] | [2] | [3] | [2] | [1] | [2] | [3] | [2],[4] | [1] | [2] | [3] | [2] | [1] | [2] | [3] | [2] | [1] | [2],[5] | [3] | [2],[4] | [1],[6] | [2],[5] | [3],[7] | [2],[8] | -1 | [1] | 21 | [2] | 29 | [3] | 88 | [2] | [2] | 0 | [2] | 19 | [2] | [2] | [3] | [2] | [1] | [3] | [1] | 0 | [2] | 4 | [3] | 0 | [2] | -2 | [1] | 28 | [2] | 10 | [3] | 51 | [2] | 1 | [1] | -7 | [2] | 15 | [3] | 18 | [2] | [1],[10],[9] | [10],[2],[9] | [11],[12],[3] | [13],[14],[2] | [1],[10] | [10],[2] | [11],[3] | [14],[2] | [1],[9] | [2],[9] | [12],[3] | [13],[2] | [1],[15] | [16],[2] | [17],[3] | [18],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Purchases | 2,375 | [1] | 1,203 | [2] | 5,606 | [3] | 4,247 | [2] | 2,002 | [1] | 750 | [2] | 3,519 | [3] | 1,995 | [2],[4] | 20 | [1] | 43 | [2] | 77 | [3] | 167 | [2] | 3 | [1] | 30 | [2] | 29 | [3] | 338 | [2] | 350 | [1] | 380 | [2],[5] | 1,981 | [3] | 1,747 | [2],[4] | 126 | [1],[6] | 78 | [2],[5] | 509 | [3],[7] | 791 | [2],[8] | 215 | [1] | 600 | [2] | 826 | [3] | 1,556 | [2] | [2] | [2] | [2] | [2] | [3] | 0 | [2] | [1] | 1 | [3] | [1] | [2] | 0 | [3] | -2 | [2] | 215 | [1] | 600 | [2] | 825 | [3] | 1,558 | [2] | [1] | [2] | [3] | [2] | [1],[10],[9] | 317 | [10],[2],[9] | 71 | [11],[12],[3] | 317 | [13],[14],[2] | [1],[10] | [10],[2] | [11],[3] | [14],[2] | 0 | [1],[9] | 596 | [2],[9] | 8 | [12],[3] | 606 | [13],[2] | 1 | [1],[15] | 40 | [16],[2] | 43 | [17],[3] | 89 | [18],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Sales | -729 | -15 | -1,774 | -113 | -1,365 | [1] | -1,251 | [2] | -4,769 | [3] | -4,931 | [2] | -892 | [1] | -848 | [2] | -2,817 | [3] | -3,498 | [2],[4] | -16 | [1] | -12 | [2] | -160 | [3] | -159 | [2] | -14 | [1] | -112 | [2] | -15 | [3] | -359 | [2] | -443 | [1] | -279 | [2],[5] | -1,777 | [3] | -915 | [2],[4] | -102 | [1],[6] | -211 | [2],[5] | -762 | [3],[7] | -833 | [2],[8] | 0 | [1] | -63 | [2] | -1 | [3] | -448 | [2] | 0 | [2] | 0 | [2] | -305 | [2] | [2] | [3] | -11 | [2] | [1] | -1 | [3] | [1] | [2] | [3] | 0 | [2] | [1] | 0 | [2] | [3] | 0 | [2] | 0 | [1] | -63 | [2] | 0 | [3] | -132 | [2] | [1],[10],[9] | -150 | [10],[2],[9] | [11],[12],[3] | -1,308 | [13],[14],[2] | -729 | [1],[10] | -15 | [10],[2] | -1,774 | [11],[3] | -113 | [14],[2] | 0 | [1],[9] | -19 | [2],[9] | -390 | [12],[3] | -40 | [13],[2] | -35 | [1],[15] | -183 | [16],[2] | -218 | [17],[3] | -950 | [18],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Issuances | 22 | [1] | [2] | 22 | [3] | [2] | 22 | [1] | [2] | 22 | [3] | [2],[4] | [1] | [2] | [3] | [2] | [1] | [2] | [3] | [2] | [1] | [2],[5] | [3] | [2],[4] | [1],[6] | [2],[5] | [3],[7] | [2],[8] | [1] | [2] | [3] | [2] | [2] | [2] | [2] | [2] | [3] | [2] | [1] | [3] | [1] | [2] | [3] | [2] | [1] | [2] | [3] | [2] | [1] | [2] | [3] | [2] | 1,247 | [1],[10],[9] | 0 | [10],[2],[9] | 1,252 | [11],[12],[3] | [13],[14],[2] | 129 | [1],[10] | 100 | [10],[2] | 399 | [11],[3] | 268 | [14],[2] | 3 | [1],[9] | [2],[9] | 3 | [12],[3] | [13],[2] | [1],[15] | [16],[2] | [17],[3] | [18],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Settlements | -389 | [1] | -238 | [2] | -1,351 | [3] | -1,209 | [2] | -205 | [1] | -101 | [2] | -444 | [3] | -846 | [2],[4] | -100 | [1] | -9 | [2] | -100 | [3] | 27 | [2] | -10 | [1] | -4 | [2] | -32 | [3] | -4 | [2] | -74 | [1] | -124 | [2],[5] | -775 | [3] | -386 | [2],[4] | -147 | [1],[6] | -918 | [2],[5] | -1,190 | [3],[7] | -2,228 | [2],[8] | -422 | [1] | -82 | [2] | -854 | [3] | -2,135 | [2] | -4 | [2] | 0 | [2] | -2 | [2] | -1 | [2] | -10 | [3] | -6 | [2] | 0 | [1] | 0 | [3] | [1] | [2] | [3] | -38 | [2] | -359 | [1] | -65 | [2] | -750 | [3] | -551 | [2] | -63 | [1] | -16 | [2] | -94 | [3] | -1,534 | [2] | -119 | [1],[10],[9] | -65 | [10],[2],[9] | -665 | [11],[12],[3] | -229 | [13],[14],[2] | -240 | [1],[10] | -346 | [10],[2] | -814 | [11],[3] | -1,149 | [14],[2] | -1,283 | [1],[9] | -104 | [2],[9] | -1,492 | [12],[3] | -330 | [13],[2] | -30 | [1],[15] | -39 | [16],[2] | -936 | [17],[3] | -275 | [18],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross Transfers into Level 3 | 208 | [1] | 166 | [2] | 693 | [3] | 1,098 | [2] | 187 | [1] | 158 | [2] | 629 | [3] | 315 | [2],[4] | 8 | [1] | 5 | [2] | 45 | [3] | 38 | [2] | [1] | [2] | 1 | [3] | [2] | 13 | [1] | 3 | [2],[5] | 18 | [3] | 745 | [2],[4] | 116 | [1],[6] | -350 | [2],[5] | -46 | [3],[7] | -283 | [2],[8] | 100 | [1] | 0 | [2] | 100 | [3] | [2] | [2] | 0 | [2] | 0 | [2] | [2] | [3] | [2] | 100 | [1] | 100 | [3] | [1] | [2] | [3] | [2] | [1] | [2] | [3] | 0 | [2] | [1] | [2] | [3] | [2] | 12 | [1],[10],[9] | 450 | [10],[2],[9] | 12 | [11],[12],[3] | 450 | [13],[14],[2] | [1],[10] | [10],[2] | [11],[3] | [14],[2] | 0 | [1],[9] | 13 | [2],[9] | 34 | [12],[3] | 57 | [13],[2] | 239 | [1],[15] | [16],[2] | 239 | [17],[3] | [18],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Transfers out of Level 3 | -279 | [1] | -390 | [2] | -1,265 | [3] | -1,120 | [2] | -230 | [1] | -314 | [2] | -1,111 | [3] | -865 | [2],[4] | -42 | [1] | -66 | [2] | -123 | [3] | -68 | [2] | -3 | [1] | -7 | [2] | -4 | [3] | -19 | [2] | -4 | [1] | -3 | [2],[5] | -27 | [3] | -168 | [2],[4] | 101 | [1],[6] | 16 | [2],[5] | 603 | [3],[7] | -370 | [2],[8] | 0 | [1] | 0 | [2] | -261 | [3] | -771 | [2] | -33 | [2] | [2] | -502 | [2] | [2] | [3] | [2] | [1] | [3] | [1] | [2] | -88 | [3] | -27 | [2] | 0 | [1] | [2] | -5 | [3] | -209 | [2] | [1] | [2] | -168 | [3] | [2] | -5 | [1],[10],[9] | -3 | [10],[2],[9] | -21 | [11],[12],[3] | -5 | [13],[14],[2] | [1],[10] | [10],[2] | [11],[3] | [14],[2] | 0 | [1],[9] | 0 | [2],[9] | -3 | [12],[3] | -632 | [13],[2] | [1],[15] | [16],[2] | -55 | [17],[3] | -11 | [18],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, ending | 9,026 | [3] | 9,955 | [2] | 9,026 | [3] | 9,955 | [2] | 3,780 | [3] | 4,173 | [2],[4] | 3,780 | [3] | 4,173 | [2],[4] | 338 | [3] | 573 | [2] | 338 | [3] | 573 | [2] | 388 | [3] | 303 | [2] | 388 | [3] | 303 | [2] | 4,520 | [3] | 4,906 | [2],[4],[5] | 4,520 | [3] | 4,906 | [2],[4],[5] | 768 | [3],[7] | 2,960 | [2],[5],[8] | 768 | [3],[7] | 2,960 | [2],[5],[8] | 4,943 | [3] | 6,299 | [2] | 4,943 | [3] | 6,299 | [2] | [2] | 1 | [2] | 1 | [2] | 23 | [2] | 0 | 23 | [2] | 105 | [1] | 105 | [1] | 0 | [1] | 8 | [3] | 93 | [2] | 8 | [3] | 93 | [2] | 8 | [1] | 4,013 | [3] | 5,121 | [2] | 4,013 | [3] | 5,121 | [2] | 817 | [3] | 1,061 | [2] | 817 | [3] | 1,061 | [2] | 3,016 | [11],[12],[3] | 2,253 | [10],[13],[14],[2],[9] | 3,016 | [11],[12],[3] | 2,253 | [10],[13],[14],[2],[9] | 5,058 | [11],[3] | 5,087 | [10],[14],[2] | 5,058 | [11],[3] | 5,087 | [10],[14],[2] | 913 | [12],[3] | 3,313 | [13],[2],[9] | 913 | [12],[3] | 3,313 | [13],[2],[9] | 1,878 | [17],[3] | 2,978 | [16],[18],[2] | 1,878 | [17],[3] | 2,978 | [16],[18],[2] | ||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning | -55 | [1] | -143 | [2] | -64 | [3] | -114 | [2] | 0 | [2],[9] | 0 | [13],[2] | -230 | [1],[9] | -2 | [2],[9] | -15 | [12],[3] | -14 | [13],[2] | -1,890 | [1],[9] | -2,388 | [2],[9] | -2,301 | [12],[3] | -2,943 | [13],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) in Earnings | 1 | [1] | 4 | [2] | 7 | [3] | 4 | [2] | 0 | [2],[9] | 0 | [13],[2] | 8 | [1],[9] | 0 | [2],[9] | 30 | [12],[3] | 4 | [13],[2] | -62 | [1],[9] | -91 | [2],[9] | 41 | [12],[3] | -239 | [13],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) in OCI | [2],[9] | [13],[2] | [1],[9] | [2],[9] | [12],[3] | [13],[2] | [1],[9] | [2],[9] | [12],[3] | [13],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Purchases | 6 | [1] | 17 | [2] | 24 | [3] | 72 | [2] | [2],[9] | [13],[2] | [1],[9] | [2],[9] | 0 | [12],[3] | 5 | [13],[2] | 47 | [1],[9] | 70 | [2],[9] | 306 | [12],[3] | 188 | [13],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Sales | -9 | [1] | -45 | [2] | -40 | [3] | -114 | [2] | [2],[9] | [13],[2] | [1],[9] | [2],[9] | [12],[3] | [13],[2] | 0 | [1],[9] | [2],[9] | -4 | [12],[3] | -33 | [13],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Issuances | -5 | [3] | -232 | [2],[9] | -232 | [13],[2] | [1],[9] | -7 | [2],[9] | -751 | [12],[3] | -7 | [13],[2] | -47 | [1],[9] | -115 | [2],[9] | -149 | [12],[3] | -253 | [13],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Settlements | [2],[9] | [13],[2] | 189 | [1],[9] | [2],[9] | 703 | [12],[3] | [13],[2] | 46 | [1],[9] | 391 | [2],[9] | 172 | [12],[3] | 1,099 | [13],[2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Transfers into Level 3 | -9 | [3] | -65 | [2] | [2],[9] | [13],[2] | [1],[9] | [2],[9] | -1 | [12],[3] | [13],[2] | -485 | [1],[9] | -531 | [2],[9] | -1,017 | [12],[3] | -1,569 | [13],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Transfers out of Level 3 | -8 | [1] | -2 | [2] | -38 | [3] | -52 | [2] | 0 | [2],[9] | [13],[2] | -2 | [1],[9] | 0 | [2],[9] | -3 | [12],[3] | -3 | [13],[2] | -328 | [1],[9] | -374 | [2],[9] | -889 | [12],[3] | -1,460 | [13],[2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, ending | -49 | [3] | -165 | [2] | -49 | [3] | -165 | [2] | -232 | [13],[2],[9] | -232 | [13],[2],[9] | -31 | [12],[3] | -9 | [13],[2],[9] | -31 | [12],[3] | -9 | [13],[2],[9] | -2,063 | [12],[3] | -2,290 | [13],[2],[9] | -2,063 | [12],[3] | -2,290 | [13],[2],[9] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | 53,161 | 53,161 | 53,497 | 53,161 | [19] | 53,497 | [19] | 7,527 | [19] | 8,073 | [19] | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $44,568 | $44,568 | $46,016 | $44,568 | [19] | $46,016 | [19] | $6,759 | [19] | $6,605 | [19] | $7,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | (1)Â Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | (2)Â During the nine months ended September 30, 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and a purchase of Trading account assets - Mortgage trading loans and ABS. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | (2)Â Net derivatives include derivative assets of $7.5 billion and derivative liabilities of $6.8 billion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | (3)Â Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | Amounts represent instruments that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | (4)Â Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[12] | (3)Â Amounts represent instruments that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[13] | (4)Â Amounts represent instruments that are accounted for under the fair value option. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[14] | (5)Â Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[15] | Other assets is primarily comprised of private equity investments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[16] | Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[17] | (5)Â Other assets is primarily comprised of private equity investments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[18] | (6)Â Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[19] | For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives. |
Fair_Value_Measurements_Gains_
Fair Value Measurements - Gains and Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | ($308) | ($315) | $2,115 | ($660) | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -749 | -872 | 921 | -3,380 | ||||
Trading Account Assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 141 | 202 | 531 | 415 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -52 | 146 | 149 | 254 | ||||
Corporate securities, trading loans and other [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 133 | 69 | 256 | 192 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -6 | 36 | 48 | 95 | ||||
Equity securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 4 | 15 | 54 | 24 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | 4 | 13 | 26 | 24 | ||||
Non-U.S. sovereign debt [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 11 | 7 | 56 | 5 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | 5 | 8 | 70 | 16 | ||||
Derivative assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | -499 | -256 | 186 | 17 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -663 | -636 | -761 | -1,899 | ||||
Mortgage trading loans and ABS [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | -7 | 111 | 165 | 194 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -55 | 89 | 5 | 119 | ||||
Available-for-sale debt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 9 | 13 | -3 | |||||
Non-Agency Residential MBS [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | -69 | |||||||
Corporate/Agency bonds [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | -2 | |||||||
Foreign Securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 5 | 5 | ||||||
Other taxable securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 2 | 5 | 7 | |||||
Tax-exempt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 2 | 7 | 3 | 61 | ||||
Loans and leases [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | -20 | [1] | 69 | [1] | 80 | [2] | 284 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -8 | [2] | 76 | [2] | 98 | [3] | 172 | [3] |
Mortgage servicing rights [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 71 | -360 | 1,531 | -1,297 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -14 | -552 | 1,276 | -1,804 | ||||
Loans held-for-sale [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 40 | [1] | 86 | [1] | 20 | [2] | 265 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | 35 | [2] | 83 | [2] | 31 | [3] | 192 | [3] |
Other assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 3 | 24 | -324 | -110 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | 15 | 105 | 131 | -59 | ||||
Trading Liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 1 | 7 | 4 | |||||
Accrued expenses and other liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Total | 8 | [1] | 4 | 30 | [2] | 4 | [2] | |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -2 | [2] | 3 | |||||
Long-term debt [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 62 | [2],[4] | 91 | [2],[5] | -41 | [6],[7] | 239 | [5],[8] |
Trading Account Profits (Losses) | 62 | [2],[4] | 91 | [2],[5] | -41 | [6],[7] | 239 | [5],[8] |
Total | -62 | [1] | -91 | [1] | 41 | [2] | -239 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Total | -62 | [2] | -92 | [2] | -3 | [3] | -239 | [3] |
Equity investments [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 16 | 39 | 52 | 28 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 17 | 115 | 23 | 90 | ||||
Equity investments [Member] | Trading Account Assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | 0 | ||||
Equity investments [Member] | Corporate securities, trading loans and other [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Equity securities [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Non-U.S. sovereign debt [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Derivative assets [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Mortgage trading loans and ABS [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Available-for-sale debt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | |||||||
Equity investments [Member] | Other taxable securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Equity investments [Member] | Loans and leases [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | [2] | [3] | [3] | ||||
Equity investments [Member] | Mortgage servicing rights [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Equity investments [Member] | Loans held-for-sale [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | [2] | [3] | [3] | ||||
Equity investments [Member] | Other assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 16 | 39 | 52 | 28 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 17 | 115 | 23 | 90 | ||||
Equity investments [Member] | Trading Liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Equity investments [Member] | Accrued expenses and other liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | [1] | [2] | ||||||
Trading Account Profits (Losses) | [1] | [2] | ||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | |||||||
Trading Account Profits (Losses) | [2] | |||||||
Equity investments [Member] | Long-term debt [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | [2] | [3] | [3] | ||||
Trading Account Profits (Losses) | [2] | [2] | [3] | [3] | ||||
Trading Account Profits (Losses) [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Trading Account Profits (Losses) | -616 | -1,053 | 6 | -2,043 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Trading Account Profits (Losses) | -837 | -1,102 | -698 | -2,374 | ||||
Trading Account Profits (Losses) [Member] | Trading Account Assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 141 | 202 | 531 | 415 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -52 | 146 | 149 | 254 | ||||
Trading Account Profits (Losses) [Member] | Corporate securities, trading loans and other [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 133 | 69 | 256 | 192 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -6 | 36 | 48 | 95 | ||||
Trading Account Profits (Losses) [Member] | Equity securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 4 | 15 | 54 | 24 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 4 | 13 | 26 | 24 | ||||
Trading Account Profits (Losses) [Member] | Non-U.S. sovereign debt [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 11 | 7 | 56 | 5 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 5 | 8 | 70 | 16 | ||||
Trading Account Profits (Losses) [Member] | Derivative assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -727 | -1,214 | -581 | -2,358 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -754 | -1,202 | -853 | -2,526 | ||||
Trading Account Profits (Losses) [Member] | Mortgage trading loans and ABS [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -7 | 111 | 165 | 194 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -55 | 89 | 5 | 119 | ||||
Trading Account Profits (Losses) [Member] | Available-for-sale debt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | ||||||
Trading Account Profits (Losses) [Member] | Foreign Securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | ||||||
Trading Account Profits (Losses) [Member] | Other taxable securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Trading Account Profits (Losses) [Member] | Tax-exempt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | ||||||
Trading Account Profits (Losses) [Member] | Loans and leases [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | [2] | [3] | [3] | ||||
Trading Account Profits (Losses) [Member] | Mortgage servicing rights [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Trading Account Profits (Losses) [Member] | Loans held-for-sale [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | [2] | [2] | [3] | [3] | ||||
Trading Account Profits (Losses) [Member] | Other assets [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Trading Account Profits (Losses) [Member] | Trading Liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 1 | 7 | 4 | |||||
Trading Account Profits (Losses) [Member] | Accrued expenses and other liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | [1] | 4 | [2] | 0 | [2] | |||
Trading Account Profits (Losses) | [1] | 4 | [2] | 0 | [2] | |||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 0 | [2] | 3 | |||||
Trading Account Profits (Losses) | 0 | [2] | 3 | |||||
Trading Account Profits (Losses) [Member] | Long-term debt [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -31 | [1] | -45 | [1] | 49 | [2] | -104 | [2] |
Trading Account Profits (Losses) | -31 | [1] | -45 | [1] | 49 | [2] | -104 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -31 | [2] | -46 | [2] | 6 | [3] | -105 | [3] |
Trading Account Profits (Losses) | -31 | [2] | -46 | [2] | 6 | [3] | -105 | [3] |
Mortgage Banking Income (Loss) [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 269 | [9] | 593 | [9] | 2,416 | [10] | 1,126 | [10] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | 53 | [9] | 15 | [9] | 1,498 | [10] | -1,166 | [10] |
Mortgage Banking Income (Loss) [Member] | Trading Account Assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [9] | 0 | [10] | 0 | [10] | ||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | 0 | [9] | 0 | [9] | 0 | [10] | 0 | [10] |
Mortgage Banking Income (Loss) [Member] | Corporate securities, trading loans and other [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [9] | [9] | [10] | [10] | ||||
Mortgage Banking Income (Loss) [Member] | Equity securities [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [9] | [9] | [10] | [10] | ||||
Mortgage Banking Income (Loss) [Member] | Non-U.S. sovereign debt [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [9] | [9] | [10] | [10] | ||||
Mortgage Banking Income (Loss) [Member] | Derivative assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 228 | [9] | 958 | [9] | 767 | [10] | 2,375 | [10] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | 91 | [9] | 566 | [9] | 92 | [10] | 627 | [10] |
Mortgage Banking Income (Loss) [Member] | Mortgage trading loans and ABS [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [9] | [9] | [10] | [10] | ||||
Mortgage Banking Income (Loss) [Member] | Available-for-sale debt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [10] | ||||||
Mortgage Banking Income (Loss) [Member] | Other taxable securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [9] | 0 | [10] | ||||
Mortgage Banking Income (Loss) [Member] | Loans and leases [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | -38 | [1],[9] | -38 | [10],[2] | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | -35 | [2],[9] | [2],[9] | -35 | [10],[3] | [10],[3] | ||
Mortgage Banking Income (Loss) [Member] | Mortgage servicing rights [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 71 | [9] | -360 | [9] | 1,531 | [10] | -1,297 | [10] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | -14 | [9] | -552 | [9] | 1,276 | [10] | -1,804 | [10] |
Mortgage Banking Income (Loss) [Member] | Loans held-for-sale [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [1],[9] | 10 | [1],[9] | 2 | [10],[2] | 105 | [10],[2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | 0 | [2],[9] | 15 | [2],[9] | 6 | [10],[3] | 65 | [10],[3] |
Mortgage Banking Income (Loss) [Member] | Other assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [9] | -15 | [9] | 124 | [10] | -57 | [10] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | 11 | [9] | -14 | [9] | 159 | [10] | -54 | [10] |
Mortgage Banking Income (Loss) [Member] | Trading Liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 0 | [9] | 0 | [10] | ||||
Mortgage Banking Income (Loss) | 0 | [10] | ||||||
Mortgage Banking Income (Loss) [Member] | Accrued expenses and other liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Mortgage Banking Income (Loss) | 8 | [1],[9] | 30 | [10],[2] | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [2],[9] | [10] | ||||||
Mortgage Banking Income (Loss) [Member] | Long-term debt [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Mortgage Banking Income (Loss) | [2],[9] | [2],[9] | [10],[3] | [10],[3] | ||||
Other Income (loss) [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Other Income (Loss) | 23 | 106 | -359 | 229 | ||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Other Income (Loss) | 18 | 100 | 98 | 70 | ||||
Other Income (loss) [Member] | Trading Account Assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | 0 | ||||
Other Income (loss) [Member] | Corporate securities, trading loans and other [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Other Income (loss) [Member] | Equity securities [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Other Income (loss) [Member] | Non-U.S. sovereign debt [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Other Income (loss) [Member] | Derivative assets [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Other Income (loss) [Member] | Mortgage trading loans and ABS [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | ||||||||
Other Income (loss) [Member] | Available-for-sale debt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 9 | 13 | -3 | |||||
Other Income (loss) [Member] | Non-Agency Residential MBS [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -69 | |||||||
Other Income (loss) [Member] | Corporate/Agency bonds [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -2 | |||||||
Other Income (loss) [Member] | Foreign Securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 5 | 5 | ||||||
Other Income (loss) [Member] | Other taxable securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 2 | 5 | 7 | |||||
Other Income (loss) [Member] | Tax-exempt securities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 2 | 7 | 3 | 61 | ||||
Other Income (loss) [Member] | Loans and leases [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 18 | [1] | 69 | [1] | 118 | [2] | 284 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 27 | [2] | 76 | [2] | 133 | [3] | 172 | [3] |
Other Income (loss) [Member] | Mortgage servicing rights [Member] | ||||||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 0 | 0 | ||||||
Other Income (loss) [Member] | Loans held-for-sale [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 40 | [1] | 76 | [1] | 18 | [2] | 160 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | 35 | [2] | 68 | [2] | 25 | [3] | 127 | [3] |
Other Income (loss) [Member] | Other assets [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -13 | -500 | -81 | |||||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -13 | 4 | -51 | -95 | ||||
Other Income (loss) [Member] | Trading Liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | 0 | 0 | |||||
Other Income (loss) [Member] | Accrued expenses and other liabilities [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | 0 | [1] | 0 | [2] | 4 | [2] | ||
Trading Account Profits (Losses) | 0 | [1] | 0 | [2] | 4 | [2] | ||
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -2 | [2] | 0 | |||||
Trading Account Profits (Losses) | -2 | [2] | 0 | |||||
Other Income (loss) [Member] | Long-term debt [Member] | ||||||||
Level 3 Total Realized and Unrealized Gains (Losses) Related to Assets Included in Earnings | ||||||||
Equity Investment Income (Loss) | -31 | [1] | -46 | [1] | -8 | [2] | -135 | [2] |
Trading Account Profits (Losses) | -31 | [1] | -46 | [1] | -8 | [2] | -135 | [2] |
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets Still Held at Reporting Date | ||||||||
Equity Investment Income (Loss) | -31 | [2] | -46 | [2] | -9 | [3] | -134 | [3] |
Trading Account Profits (Losses) | ($31) | [2] | ($46) | [2] | ($9) | [3] | ($134) | [3] |
[1] | Amounts represent instruments that are accounted for under the fair value option.Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings Nine Months Ended September 30, 2013(Dollars in millions)EquityInvestmentIncome(Loss) TradingAccountProfits(Losses) MortgageBankingIncome(Loss) (1) OtherIncome(Loss) TotalTrading account assets: Corporate securities, trading loans and other$— $256 $— $— $256Equity securities— 54 — — 54Non-U.S. sovereign debt— 56 — — 56Mortgage trading loans and ABS— 165 — — 165Total trading account assets— 531 — — 531Net derivative assets— (581) 767 — 186AFS debt securities: Non-U.S. securities— — — 5 5Other taxable securities— — — 5 5Tax-exempt securities— — — 3 3Total AFS debt securities— — — 13 13Loans and leases (2)— — (38) 118 80Mortgage servicing rights— — 1,531 — 1,531Loans held-for-sale (2)— — 2 18 20Other assets52 — 124 (500) (324)Trading account liabilities – Corporate securities and other— 7 — — 7Accrued expenses and other liabilities (2)— — 30 — 30Long-term debt (2)— 49 — (8) 41Total$52 $6 $2,416 $(359) $2,115 Nine Months Ended September 30, 2012Trading account assets: Corporate securities, trading loans and other$— $192 $— $— $192Equity securities— 24 — — 24Non-U.S. sovereign debt— 5 — — 5Mortgage trading loans and ABS— 194 — — 194Total trading account assets— 415 — — 415Net derivative assets— (2,358) 2,375 — 17AFS debt securities: Non-agency residential MBS— — — (69) (69)Corporate/Agency bonds— — — (2) (2)Other taxable securities— — — 7 7Tax-exempt securities— — — 61 61Total AFS debt securities— — — (3) (3)Loans and leases (2)— — — 284 284Mortgage servicing rights— — (1,297) — (1,297)Loans held-for-sale (2)— — 105 160 265Other assets28 — (57) (81) (110)Trading account liabilities – Corporate securities and other— 4 — — 4Accrued expenses and other liabilities (2)— — — 4 4Long-term debt (2)— (104) — (135) (239)Total$28 $(2,043) $1,126 $229 $(660) | |||||||
[2] | Amounts represent instruments that are accounted for under the fair value option. | |||||||
[3] | (2)Â Amounts represent instruments that are accounted for under the fair value option. | |||||||
[4] | Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||
[5] | Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||
[6] | (3)Â Amounts represent instruments that are accounted for under the fair value option. | |||||||
[7] | (1)Â Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||
[8] | (4)Â Amounts represent instruments that are accounted for under the fair value option. | |||||||
[9] | Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. | |||||||
[10] | (1)Â Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. |
Fair_Value_Measurements_Recurr1
Fair Value Measurements - Recurring Fair Value Inputs (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Discounted Cash Flow Hazard Rate Model Stochastic Recovery Correlation Model [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Industry Standard Derivative Pricing [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | |||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Private Equity Investments and Funds [Member] | Private Equity Investments and Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Derivative Financial Instruments, Assets [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | |||||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Option Two [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||||||||||||||
Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Other Assets [Member] | Instruments Backed by Other Assets [Member] | Auction Rate Securities [Member] | Auction Rate Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Contracts [Member] | Equity Contracts [Member] | Interest Rate Contracts [Member] | Interest Rate Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Structured Finance [Member] | Structured Finance [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||||||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Other Assets [Member] | Instruments Backed by Other Assets [Member] | Auction Rate Securities [Member] | Auction Rate Securities [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Other Assets [Member] | Instruments Backed by Other Assets [Member] | Auction Rate Securities [Member] | Auction Rate Securities [Member] | Auction Rate Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Credit Default Swaps Referencing CLOs and Corporate Assets [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Equity Contracts [Member] | Equity Contracts [Member] | Interest Rate Contracts [Member] | Interest Rate Contracts [Member] | Equity Contracts [Member] | Equity Contracts [Member] | Interest Rate Contracts [Member] | Interest Rate Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Structured Finance [Member] | Structured Finance [Member] | Structured Finance [Member] | Structured Finance [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Contract [Member] | Commodity Contract [Member] | Commodity Contract [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | ||||||||||||||||||||||||||||||
Years | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Securities Fair Value Disclosure | $3,331,000,000 | [1] | $4,478,000,000 | [2] | $5,114,000,000 | $9,932,000,000 | $11,973,000,000 | [1] | $10,778,000,000 | [2] | $1,755,000,000 | [1] | $3,414,000,000 | [2] | $1,910,000,000 | [2] | $388,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Discount Rate, Weighted Average | 9.00% | 15.00% | 4.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs Yield, Weighted Average | 7.00% | 6.00% | 3.00% | 3.00% | 4.00% | 16.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Credit Correlation, Weighted Average | 45.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Account Assets - Mortgage Trading Loans and ABS, Fair Value Disclosure | 4,500,000,000 | 4,900,000,000 | 356,000,000 | [1] | 459,000,000 | [2] | 4,164,000,000 | [1] | 4,476,000,000 | [2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Prepayment Rate, Weighted Average | 9.00% | 10.00% | 15.00% | 20.00% | 20.00% | 14.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases | 10,196,000,000 | 9,002,000,000 | 3,016,000,000 | 2,287,000,000 | 5,114,000,000 | [3] | 8,576,000,000 | [3] | 2,366,000,000 | [1] | 1,286,000,000 | [2] | 5,114,000,000 | 9,184,000,000 | 650,000,000 | [1] | 1,001,000,000 | [2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Probability of Default, Weighted Average | 7.00% | 6.00% | 7.00% | 4.00% | 4.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Held-for-sale, Fair Value Disclosure | 8,217,000,000 | 11,659,000,000 | 8,217,000,000 | 11,659,000,000 | 913,000,000 | [4],[5] | 2,733,000,000 | [4],[5] | 274,000,000 | 1,006,000,000 | 609,000,000 | [1] | 2,733,000,000 | [2] | 748,000,000 | 388,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Loss Severity, Weighted Average | 37.00% | 43.00% | 48.00% | 35.00% | 35.00% | 35.00% | 88.00% | 53.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held-for-sale | 304,000,000 | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Assets, Fair Value Disclosure | 18,204,000,000 | 26,490,000,000 | 18,204,000,000 | 26,490,000,000 | 1,878,000,000 | 3,129,000,000 | 10,000,000 | 111,000,000 | 1,900,000,000 | 934,000,000 | 1,200,000,000 | 1,910,000,000 | [2] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available For Sale Securities - Other Taxable Securities, Fair Value Disclosure | 4,000,000,000 | 3,900,000,000 | 3,169,000,000 | [1] | 3,012,000,000 | [2] | 844,000,000 | [1] | 916,000,000 | [2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Account Assets - Corporate Securities, Trading Loans and Other, Fair Value Disclosure | 3,800,000,000 | 3,700,000,000 | 3,686,000,000 | [1] | 2,289,000,000 | [2] | 94,000,000 | [1] | 1,437,000,000 | [2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Projected Tender Price to Refinancing Level, Weighted Average | 95.00% | 92.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple, Weighted Average | 0.06 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available For Sale Debt Securities - Tax Exempt Securities, Fair Value Disclosure | 817,000,000 | 1,100,000,000 | 817,000,000 | [1] | 1,061,000,000 | [2] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Fair Value Disclosure | -2,063,000,000 | -2,301,000,000 | [2],[6] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Equity Correlation, Weighted Average | 66.00% | [7] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Dated Volatilites, Weighted Average | 25.00% | [7] | 25.00% | [7] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Asset, Fair Value, Net | 768,000,000 | 1,468,000,000 | 1,300,000,000 | 2,327,000,000 | -918,000,000 | -1,295,000,000 | [7] | 375,000,000 | 441,000,000 | 11,000,000 | -5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Correlation Interest Rate to Interest Rate, Weighted Average | 61.00% | [8] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Correlation of Foreign Exchange Rates to Interest Rates, Weighted Average | -2.00% | [8] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-dated Inflation Volatilities, Weighted Average | 1.00% | [8] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Yield | 2.00% | 2.00% | 3.00% | 3.00% | 0.00% | 0.00% | 25.00% | 25.00% | 6.00% | 5.00% | 45.00% | 25.00% | 4.00% | 2.00% | 25.00% | 25.00% | 5.00% | 5.00% | 13.00% | 4.00% | 18.00% | 5.00% | 14.00% | 13.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 0 | 2 | 19 | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Weighted Average Life | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instrument, Basis Spread on Variable Discount Rate | 4.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Projected Tender Price to Refinancing Level | 50.00% | 50.00% | 100.00% | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Volatility Rate | 4.00% | 20.00% | 69.00% | 70.00% | 4.00% | 20.00% | 69.00% | 70.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Credit Spreads | 0.0029 | 0.0058 | 0.0183 | 0.0615 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Credit Spreads, Weighted Average | 0.017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Equity Correlation | 0.18 | 0.3 | 0.98 | 0.97 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Upfront Points | 0 | 0.25 | 1 | 0.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Upfront Points, Weighted Average | 0.63 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Prepayment Rate | 1.00% | 1.00% | 3.00% | 3.00% | 5.00% | 5.00% | 35.00% | 30.00% | 20.00% | 30.00% | 40.00% | 30.00% | 3.00% | 3.00% | 40.00% | 30.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | 0.00% | 0.00% | 1.00% | 1.00% | 20.00% | 44.00% | 28.00% | 55.00% | 5.00% | 5.00% | 1.00% | 0.00% | 5.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Loss Severity | 0.00% | 6.00% | 8.00% | 6.00% | 25.00% | 25.00% | 85.00% | 85.00% | 61.00% | 66.00% | 40.00% | 40.00% | 20.00% | 25.00% | 42.00% | 42.00% | 73.00% | 51.00% | 18.00% | 24.00% | 83.00% | 100.00% | 82.00% | 88.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Spread to Index | -0.1731 | -0.208 | 0.1681 | 0.1972 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Spread to Index, Weighted Average | 0.0207 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Credit Correlation | 21.00% | 19.00% | 73.00% | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Term Natural Gas Basis Curve | 3 | 3 | 12 | 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-term Natural Gas Basis Curve, Weighted Average | $7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Correlation Interest Rate to Interest Rate | 24.00% | 15.00% | 99.00% | 99.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Correlation of Foreign Exchange Rates to Interest Rates | -65.00% | -65.00% | 50.00% | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Dated Inflation Rates | 0.00% | 2.00% | 0.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Dated Inflation Volatilities | 0.00% | 0.00% | 2.00% | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Dated Volatilities - Interest Rates, Foreign Exchange Rates | 0.00% | 5.00% | 0.00% | 36.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-Dated Swap Rates | 0.00% | 8.00% | 0.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 237: Trading account assets – Corporate securities, trading loans and other of $3.8 billion, Trading account assets – Mortgage trading loans and ABS of $4.5 billion, AFS debt securities – Other taxable securities of $4.0 billion, AFS debt securities – Tax-exempt securities of $817 million, Loans and leases of $3.0 billion and LHFS of $913 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 238: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Losses represent charge-offs on real estate-secured loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | For more information on the ranges of inputs for equity correlation and long-dated volatilities, see the qualitative equity derivatives discussion on page 245. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | Includes models such as Monte Carlo simulation and Black-Scholes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. |
Fair_Value_Measurements_Nonrec
Fair Value Measurements - Nonrecurring Fair Value (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||
In Millions, unless otherwise specified | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | ||||||||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||
Loans held-for-sale | $8,217 | $11,659 | $4,266 | $3,551 | $274 | $1,006 | ||||||||||||
Gains (Losses) on loans held-for-sale | 1 | 0 | -66 | -6 | ||||||||||||||
Loans and leases | 23 | [1] | 16 | [1] | 5,114 | [1] | 8,576 | [1] | ||||||||||
Gains (Losses) on loans and leases | -281 | [1] | -1,548 | [1] | -985 | [1] | -3,422 | [1] | ||||||||||
Foreclosed properties | 17 | [2] | 64 | [2] | 1,293 | [2] | 1,436 | [2] | ||||||||||
Gains (Losses) on Foreclosed Properties | 21 | [2] | -20 | [2] | 23 | [2] | -68 | [2] | ||||||||||
Other assets | 18,204 | 26,490 | 78 | 32 | 10 | 111 | ||||||||||||
Gains (Losses) on other assets | ($7) | ($11) | ($15) | ($13) | ||||||||||||||
[1] | Losses represent charge-offs on real estate-secured loans | |||||||||||||||||
[2] | Amounts are included in other assets on the Consolidated Balance Sheet and represent the fair value of, and related losses on foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. |
Fair_Value_Measurements_Nonrec1
Fair Value Measurements - Nonrecurring Fair Value Inputs (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||||
In Millions, unless otherwise specified | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Private Equity Investments and Funds [Member] | Private Equity Investments and Funds [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow Market Comparables [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | |||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | Loans and Securities [Member] | ||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Instruments Backed by Residential Real Estate Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | Instruments Backed by Commercial Real Estate Assets [Member] | |||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||||||||||||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Loans and Securities Fair Value Disclosure | $3,331 | [1] | $4,478 | [2] | $5,114 | $9,932 | $1,910 | [2] | $388 | |||||||||||||||||||||||||||||||
Fair Value Inputs Yield, Weighted Average | 7.00% | 6.00% | 3.00% | 6.00% | ||||||||||||||||||||||||||||||||||||
Loans Held-for-sale, Fair Value Disclosure | 8,217 | 11,659 | 8,217 | 11,659 | 913 | [3],[4] | 2,733 | [3],[4] | 274 | 1,006 | 609 | [1] | 2,733 | [2] | 748 | 388 | ||||||||||||||||||||||||
Fair Value Inputs, Prepayment Rate, Weighted Average | 9.00% | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||
Loans and leases | 10,196 | 9,002 | 3,016 | 2,287 | 5,114 | [5] | 8,576 | [5] | 2,366 | [1] | 1,286 | [2] | 5,114 | 9,184 | ||||||||||||||||||||||||||
Fair Value Inputs, Probability of Default, Weighted Average | 7.00% | 6.00% | 7.00% | |||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Loss Severity, Weighted Average | 37.00% | 43.00% | 48.00% | 88.00% | 53.00% | |||||||||||||||||||||||||||||||||||
Fair Value Inputs, Discount Rate, Weighted Average | 9.00% | 15.00% | ||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Yield | 2.00% | 2.00% | 3.00% | 3.00% | 25.00% | 25.00% | 6.00% | 5.00% | 5.00% | 5.00% | 13.00% | 4.00% | 18.00% | 5.00% | 14.00% | 13.00% | ||||||||||||||||||||||||
Fair Value Inputs, Prepayment Rate | 1.00% | 1.00% | 3.00% | 3.00% | 35.00% | 30.00% | 20.00% | 30.00% | ||||||||||||||||||||||||||||||||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | 0.00% | 0.00% | 20.00% | 44.00% | 28.00% | 55.00% | ||||||||||||||||||||||||||||||||
Fair Value Inputs, Loss Severity | 0.00% | 6.00% | 8.00% | 6.00% | 85.00% | 85.00% | 61.00% | 66.00% | 73.00% | 51.00% | 18.00% | 24.00% | 83.00% | 100.00% | 82.00% | 88.00% | ||||||||||||||||||||||||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% | 19.00% | 28.00% | ||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Cost to Sell | 8.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||
Other Assets, Fair Value Disclosure | $18,204 | $26,490 | $18,204 | $26,490 | $1,878 | $3,129 | $10 | $111 | $1,900 | $934 | $1,200 | $1,910 | [2] | |||||||||||||||||||||||||||
[1] | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 237: Trading account assets – Corporate securities, trading loans and other of $3.8 billion, Trading account assets – Mortgage trading loans and ABS of $4.5 billion, AFS debt securities – Other taxable securities of $4.0 billion, AFS debt securities – Tax-exempt securities of $817 million, Loans and leases of $3.0 billion and LHFS of $913 million. | |||||||||||||||||||||||||||||||||||||||
[2] | The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 238: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. | |||||||||||||||||||||||||||||||||||||||
[3] | Assets (liabilities). For assets, increase / (decrease)Â to Level 3 and for liabilities, (increase) / decrease to Level 3. | |||||||||||||||||||||||||||||||||||||||
[4] | Net derivatives include derivative assets of $10.0 billion and derivative liabilities of $7.0 billion. | |||||||||||||||||||||||||||||||||||||||
[5] | Losses represent charge-offs on real estate-secured loans |
Fair_Value_Option_Elections_De
Fair Value Option - Elections (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Loans reported as trading account assets [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | $2,510 | [1] | $1,663 | [1] |
Contractual Principal Outstanding | 4,013 | [1] | 2,879 | [1] |
Fair Value Carrying Amount Less Unpaid Principal | -1,503 | [1] | -1,216 | [1] |
Trading Inventory - Other [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 3,106 | 2,170 | ||
Consumer and commercial loans [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 10,196 | 9,002 | ||
Contractual Principal Outstanding | 10,598 | 9,576 | ||
Fair Value Carrying Amount Less Unpaid Principal | -402 | -574 | ||
Loans held-for-sale [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 8,217 | 11,659 | ||
Contractual Principal Outstanding | 8,937 | 12,676 | ||
Fair Value Carrying Amount Less Unpaid Principal | -720 | -1,017 | ||
Securities financing agreements [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 164,816 | 141,309 | ||
Contractual Principal Outstanding | 164,556 | 140,791 | ||
Fair Value Carrying Amount Less Unpaid Principal | 260 | 518 | ||
Other assets [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 412 | 453 | ||
Contractual Principal Outstanding | 270 | 270 | ||
Fair Value Carrying Amount Less Unpaid Principal | 142 | 183 | ||
Long-term deposits [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 1,916 | 2,262 | ||
Contractual Principal Outstanding | 1,794 | 2,046 | ||
Fair Value Carrying Amount Less Unpaid Principal | 122 | 216 | ||
Asset-backed secured financings [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 762 | 741 | ||
Contractual Principal Outstanding | 1,105 | 1,176 | ||
Fair Value Carrying Amount Less Unpaid Principal | -343 | -435 | ||
Unfunded loan commitments [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 412 | 528 | ||
Other short-term borrowings [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 2,082 | 3,333 | ||
Contractual Principal Outstanding | 2,082 | 3,333 | ||
Fair Value Carrying Amount Less Unpaid Principal | 0 | |||
Accrued expenses and other liabilities [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 20 | 0 | ||
Contractual Principal Outstanding | 20 | 0 | ||
Fair Value Carrying Amount Less Unpaid Principal | 0 | |||
Long-term debt [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 47,401 | [2],[3] | 49,161 | [2],[3] |
Contractual Principal Outstanding | 47,811 | [2],[3] | 50,792 | [2],[3] |
Fair Value Carrying Amount Less Unpaid Principal | -410 | [2],[3] | -1,631 | [2],[3] |
Structured liabilities [Member] | ||||
Fair Value Option Elections | ||||
Fair Value Carrying Amount | 36,100 | [2],[3] | 39,300 | [2],[3] |
Contractual Principal Outstanding | $35,900 | [2],[3] | $39,900 | [2],[3] |
[1] | A significant portion of the loans reported as trading account assets are distressed loans which trade and were purchased at a deep discount to par, and the remainder are loans with a fair value near contractual principal outstanding. | |||
[2] | The majority of the difference between the fair value carrying amount and contractual principal outstanding at September 30, 2013 and December 31, 2012 relates to the impact of the Corporation's credit spreads as well as the fair value of the embedded derivative, where applicable. | |||
[3] | Includes structured liabilities with a fair value of $36.1 billion and contractual principal outstanding of $35.9 billion at September 30, 2013 compared to $39.3 billion and $39.9 billion at December 31, 2012. |
Fair_Value_Option_Changes_in_F
Fair Value Option - Changes in FV of Assets and Liabilities (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ($45) | ($1,121) | $645 | ($2,280) | ||||
Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -169 | -1,018 | -53 | -851 | ||||
Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 125 | 621 | 607 | 2,027 | ||||
Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -1 | -724 | 91 | -3,456 | ||||
Loans and Loan Commitments [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Fair value option, changes in borrower specific credit risk, gains (losses) on assets | 62 | 487 | 218 | 975 | ||||
Loans reported as trading account assets [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 46 | 64 | 85 | 198 | ||||
Loans reported as trading account assets [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 46 | 64 | 85 | 198 | ||||
Loans reported as trading account assets [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Loans reported as trading account assets [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Consumer and commercial loans [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -7 | 188 | 146 | 438 | ||||
Consumer and commercial loans [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 1 | 3 | 2 | 8 | ||||
Consumer and commercial loans [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -38 | -38 | ||||||
Consumer and commercial loans [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 30 | 185 | 182 | 430 | ||||
Loans held-for-sale [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Fair value option, changes in borrower specific credit risk, gains (losses) on assets | 52 | 117 | 119 | 281 | ||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 258 | [1] | 782 | [1] | 721 | [2] | 2,372 | [2] |
Loans held-for-sale [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 5 | [1] | 20 | [1] | -2 | [2] | 69 | [2] |
Loans held-for-sale [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 174 | [1] | 675 | [1] | 685 | [2] | 2,136 | [2] |
Loans held-for-sale [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 79 | [1] | 87 | [1] | 38 | [2] | 167 | [2] |
Securities financing agreements [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -23 | 9 | -39 | -58 | ||||
Securities financing agreements [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -23 | 9 | -39 | -58 | ||||
Securities financing agreements [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Securities financing agreements [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 0 | 0 | 0 | 0 | ||||
Other assets [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -47 | -86 | 7 | |||||
Other assets [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Other assets [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Other assets [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -47 | -86 | 7 | |||||
Long-term deposits [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 7 | -20 | 97 | |||||
Long-term deposits [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -6 | 30 | ||||||
Long-term deposits [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Long-term deposits [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 13 | -20 | 67 | |||||
Asset-backed secured financings [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -20 | -54 | -71 | -109 | ||||
Asset-backed secured financings [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Asset-backed secured financings [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -20 | -54 | -71 | -109 | ||||
Asset-backed secured financings [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Unfunded loan commitments [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 76 | 313 | 122 | 605 | ||||
Unfunded loan commitments [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Unfunded loan commitments [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Unfunded loan commitments [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 76 | 313 | 122 | 605 | ||||
Other short-term borrowings [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -1 | -1 | -29 | 18 | ||||
Other short-term borrowings [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -1 | -1 | -29 | 18 | ||||
Other short-term borrowings [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Other short-term borrowings [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Accrued expenses and other liabilities [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 9 | 31 | ||||||
Accrued expenses and other liabilities [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 0 | 0 | ||||||
Accrued expenses and other liabilities [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | 9 | 31 | ||||||
Accrued expenses and other liabilities [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ||||||||
Long-term debt [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -343 | [3] | -2,402 | [3] | -332 | [4] | -5,751 | [4] |
Long-term debt [Member] | Trading Account Profits (Losses) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | -191 | [3] | -1,113 | [3] | -100 | [4] | -1,086 | [4] |
Long-term debt [Member] | Mortgage Banking Income (Loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | [3] | [4] | ||||||
Long-term debt [Member] | Other Income (loss) [Member] | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Using Fair Value Option | ||||||||
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option | ($152) | [3] | ($1,289) | [3] | ($232) | [4] | ($4,665) | [4] |
[1] | Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||
[2] | (1)Â Includes the value of interest rate lock commitments on loans funded, including those already sold during the period. | |||||||
[3] | The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. | |||||||
[4] | (2)Â The majority of the net gains (losses) in trading account profits (losses) relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. The net gains (losses) in other income (loss) relate to the impact on structured liabilities of changes in the Corporation's credit spreads. |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Carrying and fair values of financial instruments | ||
Deposits | $1,110,118 | $1,105,261 |
Long-term debt | 255,331 | 275,585 |
Carrying Value [Member] | ||
Carrying and fair values of financial instruments | ||
Loans | 890,469 | 859,875 |
Loans held-for-sale | 15,001 | 19,413 |
Deposits | 1,110,118 | 1,105,261 |
Long-term debt | 255,331 | 275,585 |
Commercial unfunded lending commitments | 888 | 1,000 |
Fair Value [Member] | ||
Carrying and fair values of financial instruments | ||
Loans | 907,595 | 877,880 |
Loans held-for-sale | 15,001 | 19,408 |
Deposits | 1,110,427 | 1,105,669 |
Long-term debt | 263,966 | 283,474 |
Commercial unfunded lending commitments | 4,300 | 4,500 |
Fair Value, Inputs, Level 2 [Member] | Fair Value [Member] | ||
Carrying and fair values of financial instruments | ||
Loans | 105,404 | 105,119 |
Loans held-for-sale | 13,447 | 15,087 |
Deposits | 1,110,427 | 1,105,669 |
Long-term debt | 261,903 | 281,173 |
Fair Value, Inputs, Level 3 [Member] | Fair Value [Member] | ||
Carrying and fair values of financial instruments | ||
Loans | 802,191 | 772,761 |
Loans held-for-sale | 1,554 | 4,321 |
Deposits | ||
Long-term debt | $2,063 | $2,301 |
Mortgage_Servicing_Rights_Roll
Mortgage Servicing Rights - Rollforward of Mortgage Servicing Rights (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||
Commercial and Residential Reverse Mortgage [Member] | Commercial and Residential Reverse Mortgage [Member] | |||||||||
Servicing Assets at Fair Value [Line Items] | ||||||||||
Servicing asset at amortized cost | $10,000,000 | $135,000,000 | ||||||||
Activity for residential first mortgage MSRs | ||||||||||
Balance, beginning of period | 5,827,000,000 | 5,708,000,000 | 5,716,000,000 | 7,378,000,000 | ||||||
Additions | 129,000,000 | 100,000,000 | 399,000,000 | 268,000,000 | ||||||
Sales | -729,000,000 | -15,000,000 | -1,774,000,000 | -113,000,000 | ||||||
Impact of customer payments | -240,000,000 | [1] | -346,000,000 | [1] | -814,000,000 | [1] | -1,149,000,000 | [1] | ||
Impact of changes in interest rates and other market factors | 24,000,000 | [2] | -280,000,000 | [2] | 1,162,000,000 | [2] | -1,022,000,000 | [2] | ||
Model and other cash flow assumption changes: | ||||||||||
Projected cash flows, primarily due to increases in cost to service loans | 9,000,000 | [3] | 113,000,000 | [3] | 23,000,000 | [3] | 506,000,000 | [3] | ||
Impact of changes in the Home Price Index | -197,000,000 | [3] | -62,000,000 | [3] | -399,000,000 | [3] | -42,000,000 | [3] | ||
Impact of changes to the prepayment model | 206,000,000 | [3] | 0 | [3] | 609,000,000 | [3] | 342,000,000 | [3] | ||
Other model changes | 29,000,000 | [3],[4] | -131,000,000 | [3],[4] | 136,000,000 | [3],[4] | -1,081,000,000 | [3],[4] | ||
Balance, end of period | 5,058,000,000 | 5,087,000,000 | 5,058,000,000 | 5,087,000,000 | ||||||
Mortgage loans serviced for investors (in billions) | 616,000,000,000 | 1,142,000,000,000 | 616,000,000,000 | 1,142,000,000,000 | ||||||
Option adjusted spread due to MSR model recalibration | $929,000,000 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Percent Complete | 92.00% | 92.00% | ||||||||
[1] | Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows. | |||||||||
[2] | These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. | |||||||||
[3] | These amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows as well as changes in certain cash flow assumptions such as cost to service and ancillary income per loan. | |||||||||
[4] | These amounts include the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows. Also included is a decrease of $929 million for the nine months ended September 30, 2012 due to changes in OAS rate inputs. |
Mortgage_Servicing_Rights_Sign
Mortgage Servicing Rights - Significant Econcomic Assumptions (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Fixed [Member] | ||
Assumption for Fair Value of MSRs | ||
Weighted-average OAS | 4.08% | 4.00% |
Weighted-average life, in years | 5 years 2 months 8 days | 3 years 7 months 25 days |
Adjustable [Member] | ||
Assumption for Fair Value of MSRs | ||
Weighted-average OAS | 7.33% | 6.63% |
Weighted-average life, in years | 2 years 9 months | 2 years 1 month 6 days |
Mortgage_Servicing_Rights_Sens
Mortgage Servicing Rights - Sensitivity Impacts (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Decrease [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Change in Fair Value, Impact of 10% | 303 |
Change in Fair Value, Impact of 20% | 639 |
Change in Fair Value, Impact of 100 bps | 261 |
Change in Fair Value, Impact Of 200 bps | 545 |
Increase [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Change in Fair Value, Impact of 10% | -275 |
Change in Fair Value, Impact of 20% | -526 |
Change in Fair Value, Impact of 100 bps | -240 |
Change in Fair Value, Impact Of 200 bps | -461 |
Fixed [Member] | Decrease [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Impact of 10 percent change | 2 months 26 days |
Impact of 20 percent change | 6 months 3 days |
Fixed [Member] | Increase [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Impact of 10 percent change | 2 months 19 days |
Impact of 20 percent change | 5 months 1 day |
Adjustable [Member] | Decrease [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Impact of 10 percent change | 2 months 8 days |
Impact of 20 percent change | 4 months 24 days |
Adjustable [Member] | Increase [Member] | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |
Impact of 10 percent change | 1 month 27 days |
Impact of 20 percent change | 3 months 21 days |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
banking_center | segments | |||||
atm | banking_center | |||||
state | atm | |||||
state | ||||||
Segment Reporting Information [Line Items] | ||||||
Number of reportable segments | 5 | |||||
Number of states in which entity operates | 31 | 31 | ||||
Number of banking centers | 5,200 | 5,200 | ||||
Number of ATMs | 16,200 | 16,200 | ||||
Business Segments | ||||||
Net interest income (FTE basis) | $10,479 | $10,167 | $32,125 | $31,002 | ||
Noninterest income | 11,264 | 10,490 | 35,975 | 34,342 | ||
Total revenue, net of interest expense (FTE basis) | 21,743 | 20,657 | 68,100 | 65,344 | ||
Provision for credit losses | 296 | 1,774 | 3,220 | 5,965 | ||
Amortization of intangibles | 270 | 315 | 820 | 955 | ||
Other noninterest expense | 16,119 | 17,229 | 51,087 | 52,778 | ||
Income (loss) before income taxes | 5,058 | 1,339 | 12,973 | 5,646 | ||
Income tax expense (benefit) (FTE basis) | 2,561 | 999 | 4,981 | 2,190 | ||
Net income (loss) | 2,497 | 340 | 7,992 | 3,456 | ||
Period-end total assets | 2,126,653 | 2,166,162 | 2,126,653 | 2,166,162 | 2,209,974 | |
Consumer & Business Banking [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 5,056 | 4,824 | [1] | 15,103 | 14,984 | |
Noninterest income | 2,468 | 2,437 | 7,267 | 7,405 | ||
Total revenue, net of interest expense (FTE basis) | 7,524 | 7,261 | [1] | 22,370 | 22,389 | |
Provision for credit losses | 761 | 1,006 | 2,680 | 3,069 | ||
Amortization of intangibles | 126 | 156 | 380 | 472 | ||
Other noninterest expense | 3,854 | 3,955 | [1] | 11,935 | 12,349 | |
Income (loss) before income taxes | 2,783 | 2,144 | [1] | 7,375 | 6,499 | |
Income tax expense (benefit) (FTE basis) | 1,004 | 793 | [1] | 2,754 | 2,398 | |
Net income (loss) | 1,779 | 1,351 | 4,621 | 4,101 | ||
Period-end total assets | 588,627 | 540,419 | 588,627 | 540,419 | ||
Consumer Real Estate Services [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 733 | 719 | 2,175 | 2,200 | ||
Noninterest income | 844 | 2,364 | 3,829 | 6,076 | ||
Total revenue, net of interest expense (FTE basis) | 1,577 | 3,083 | 6,004 | 8,276 | ||
Provision for credit losses | -308 | 263 | 318 | 957 | ||
Amortization of intangibles | 0 | |||||
Other noninterest expense | 3,419 | 4,180 | 12,219 | 11,583 | ||
Income (loss) before income taxes | -1,534 | -1,360 | -6,533 | -4,264 | ||
Income tax expense (benefit) (FTE basis) | -534 | -503 | -2,439 | -1,529 | ||
Net income (loss) | -1,000 | -857 | -4,094 | -2,735 | ||
Period-end total assets | 115,424 | 138,120 | 115,424 | 138,120 | ||
Global Banking [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 2,201 | 2,009 | 6,613 | 6,036 | ||
Noninterest income | 1,808 | 1,777 | 5,564 | 5,686 | ||
Total revenue, net of interest expense (FTE basis) | 4,009 | 3,786 | 12,177 | 11,722 | ||
Provision for credit losses | 322 | 23 | 634 | -404 | ||
Amortization of intangibles | 16 | 20 | 48 | 61 | ||
Other noninterest expense | 1,912 | 1,916 | 5,578 | 5,804 | ||
Income (loss) before income taxes | 1,759 | 1,827 | 5,917 | 6,261 | ||
Income tax expense (benefit) (FTE basis) | 625 | 676 | 2,210 | 2,309 | ||
Net income (loss) | 1,134 | 1,151 | 3,707 | 3,952 | ||
Period-end total assets | 373,110 | 325,488 | 373,110 | 325,488 | ||
Global Markets [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 975 | 929 | 3,097 | 2,557 | ||
Noninterest income | 2,401 | 2,349 | 9,337 | 8,707 | ||
Total revenue, net of interest expense (FTE basis) | 3,376 | 3,278 | 12,434 | 11,264 | ||
Provision for credit losses | 47 | 31 | 36 | 17 | ||
Amortization of intangibles | 16 | 16 | 49 | 48 | ||
Other noninterest expense | 2,868 | 2,559 | 8,680 | 8,620 | ||
Income (loss) before income taxes | 445 | 672 | 3,669 | 2,579 | ||
Income tax expense (benefit) (FTE basis) | 1,223 | 948 | 2,321 | 1,531 | ||
Net income (loss) | -778 | -276 | 1,348 | 1,048 | ||
Period-end total assets | 601,139 | 600,154 | 601,139 | 600,154 | ||
Global Wealth & Investment Management [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 1,478 | 1,413 | 4,579 | 4,337 | ||
Noninterest income | 2,912 | 2,670 | 8,731 | 7,987 | ||
Total revenue, net of interest expense (FTE basis) | 4,390 | 4,083 | 13,310 | 12,324 | ||
Provision for credit losses | 23 | 61 | 30 | 154 | ||
Amortization of intangibles | 95 | 101 | 293 | 310 | ||
Other noninterest expense | 3,153 | 3,014 | 9,480 | 9,214 | ||
Income (loss) before income taxes | 1,119 | 907 | 3,507 | 2,646 | ||
Income tax expense (benefit) (FTE basis) | 400 | 336 | 1,310 | 977 | ||
Net income (loss) | 719 | 571 | 2,197 | 1,669 | ||
Period-end total assets | 270,484 | 268,408 | 270,484 | 268,408 | ||
All Other [Member] | ||||||
Business Segments | ||||||
Net interest income (FTE basis) | 36 | 273 | 558 | 888 | ||
Noninterest income | 831 | -1,107 | 1,247 | -1,519 | ||
Total revenue, net of interest expense (FTE basis) | 867 | -834 | 1,805 | -631 | ||
Provision for credit losses | -549 | 390 | -478 | 2,172 | ||
Amortization of intangibles | 17 | 22 | 50 | 64 | ||
Other noninterest expense | 913 | 1,605 | 3,195 | 5,208 | ||
Income (loss) before income taxes | 486 | -2,851 | -962 | -8,075 | ||
Income tax expense (benefit) (FTE basis) | -157 | -1,251 | -1,175 | -3,496 | ||
Net income (loss) | 643 | -1,600 | 213 | -4,579 | ||
Period-end total assets | $177,869 | $293,573 | $177,869 | $293,573 | ||
[1] | There were no material intersegment revenues. |
Business_Segment_Information_R
Business Segment Information - Reconciliation of Revenue and Net Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Segments' total revenue, net of interest expense (FTE basis) | $21,743 | $20,657 | $68,100 | $65,344 | ||
Revenues | 21,530 | 20,428 | 67,454 | 64,674 | ||
Net income (loss) | 2,497 | 340 | 7,992 | 3,456 | ||
Liabilities, fair value adjustment | -152 | -1,300 | -232 | -4,700 | ||
Operating Segments [Member] | ||||||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Segments' total revenue, net of interest expense (FTE basis) | 20,876 | 21,491 | 66,295 | 65,975 | ||
Net income (loss) | 1,854 | 1,940 | 7,779 | 8,035 | ||
ALM activities [Member] | ||||||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Revenues | -180 | [1] | -930 | [1] | -590 | -1,623 |
Net income (loss) | -71 | -1,156 | -748 | -3,209 | ||
Equity investment income [Member] | ||||||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Revenues | 1,121 | 172 | 2,217 | 566 | ||
Net income (loss) | 706 | 108 | 1,397 | 357 | ||
Liquidating businesses [Member] | ||||||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Revenues | -74 | -76 | 178 | 426 | ||
Net income (loss) | 8 | -552 | -436 | -1,727 | ||
FTE basis adjustment [Member] | ||||||
Segment Reporting Revenue And Net Income Loss Reconciling Item [Line Items] | ||||||
Revenues | ($213) | ($229) | ($646) | ($670) | ||
[1] | Includes negative fair value adjustments on structured liabilities related to the improvement in the Corporation's credit spreads of $152 million and $232 million for the three and nine months ended September 30, 2013 compared to negative adjustments of $1.3 billion and $4.7 billion for the same periods in 2012. |
Business_Segment_Information_C
Business Segment Information - Consolidated Assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | $2,126,653 | $2,209,974 | $2,166,162 |
Operating Segments [Member] | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | 1,948,784 | 1,872,589 | |
ALM activities, including securities portfolio [Member] | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | 662,206 | 677,585 | |
Equity investments [Member] | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | 2,625 | 5,626 | |
Liquidating businesses [Member] | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | 70,991 | 124,053 | |
Elimination of segment excess asset allocations to match liabilities [Member] | |||
Segment Reporting, Asset Reconciling Item [Line Items] | |||
Total assets | ($557,953) | ($513,691) |