Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | BANK OF AMERICA CORP /DE/ | |
Entity Central Index Key | 70,858 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 10,105,046,654 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income | ||||
Loans and leases | $ 8,358 | $ 7,965 | $ 24,837 | $ 23,912 |
Debt securities | 2,144 | 2,268 | 6,922 | 6,726 |
Federal funds sold and securities borrowed or purchased under agreements to resell | 267 | 275 | 803 | 774 |
Trading account assets | 1,076 | 1,134 | 3,330 | 3,291 |
Other interest income | 765 | 754 | 2,300 | 2,221 |
Total interest income | 12,610 | 12,396 | 38,192 | 36,924 |
Interest expense | ||||
Deposits | 266 | 214 | 736 | 650 |
Short-term borrowings | 569 | 597 | 1,808 | 1,868 |
Trading account liabilities | 244 | 342 | 778 | 1,071 |
Long-term debt | 1,330 | 1,343 | 4,066 | 4,063 |
Total interest expense | 2,409 | 2,496 | 7,388 | 7,652 |
Net interest income | 10,201 | 9,900 | 30,804 | 29,272 |
Noninterest income | ||||
Card income | 1,455 | 1,510 | 4,349 | 4,381 |
Service charges | 1,952 | 1,898 | 5,660 | 5,519 |
Investment and brokerage services | 3,160 | 3,336 | 9,543 | 10,101 |
Investment banking income | 1,458 | 1,287 | 4,019 | 4,300 |
Trading account profits | 2,141 | 1,616 | 5,821 | 5,510 |
Mortgage banking income | 589 | 407 | 1,334 | 2,102 |
Gains on sales of debt securities | 51 | 437 | 490 | 886 |
Other income | 628 | 601 | 1,691 | 1,312 |
Total noninterest income | 11,434 | 11,092 | 32,907 | 34,111 |
Total revenue, net of interest expense | 21,635 | 20,992 | 63,711 | 63,383 |
Provision for credit losses | 850 | 806 | 2,823 | 2,351 |
Noninterest expense | ||||
Personnel | 7,704 | 7,829 | 24,278 | 25,333 |
Occupancy | 1,005 | 1,028 | 3,069 | 3,082 |
Equipment | 443 | 499 | 1,357 | 1,511 |
Marketing | 410 | 445 | 1,243 | 1,330 |
Professional fees | 536 | 673 | 1,433 | 1,588 |
Amortization of intangibles | 181 | 207 | 554 | 632 |
Data processing | 685 | 731 | 2,240 | 2,298 |
Telecommunications | 189 | 210 | 551 | 583 |
Other general operating | 2,328 | 2,317 | 7,065 | 7,367 |
Total noninterest expense | 13,481 | 13,939 | 41,790 | 43,724 |
Income before income taxes | 7,304 | 6,247 | 19,098 | 17,308 |
Income tax expense | 2,349 | 1,628 | 5,888 | 4,756 |
Net income | 4,955 | 4,619 | 13,210 | 12,552 |
Preferred stock dividends | 503 | 441 | 1,321 | 1,153 |
Net income applicable to common shareholders | $ 4,452 | $ 4,178 | $ 11,889 | $ 11,399 |
Per common share information | ||||
Earnings (in dollars per share) | $ 0.43 | $ 0.40 | $ 1.15 | $ 1.09 |
Diluted earnings (in dollars per share) | 0.41 | 0.38 | 1.10 | 1.03 |
Dividends paid (in dollars per share) | $ 0.075 | $ 0.05 | $ 0.175 | $ 0.15 |
Average common shares issued and outstanding (in shares, in thousands) | 10,250,124 | 10,444,291 | 10,312,878 | 10,483,466 |
Average diluted common shares issued and outstanding (in shares, in thousands) | 11,000,473 | 11,197,203 | 11,046,807 | 11,234,125 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 4,955 | $ 4,619 | $ 13,210 | $ 12,552 |
Other comprehensive income, net-of-tax: | ||||
Net change in debt and marketable equity securities | 208 | 1,211 | 3,319 | 167 |
Net change in debit valuation adjustments | (65) | 187 | 49 | 633 |
Net change in derivatives | 127 | 127 | 277 | 416 |
Employee benefit plan adjustments | 6 | 27 | 29 | 77 |
Net change in foreign currency translation adjustments | (8) | (76) | (17) | (84) |
Other comprehensive income | 268 | 1,476 | 3,657 | 1,209 |
Comprehensive income | $ 5,223 | $ 6,095 | $ 16,867 | $ 13,761 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 26,701 | $ 31,265 |
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 116,733 | 128,088 |
Cash and cash equivalents | 143,434 | 159,353 |
Time deposits placed and other short-term investments | 8,506 | 7,744 |
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $51,638 and $55,143 measured at fair value) | 218,810 | 192,482 |
Trading account assets (includes $103,042 and $107,776 pledged as collateral) | 187,849 | 176,527 |
Derivative assets | 47,896 | 49,990 |
Debt securities: | ||
Carried at fair value (includes $29,903 and $29,810 pledged as collateral) | 322,505 | 322,380 |
Held-to-maturity, at cost (fair value – $113,965 and $84,046; $8,316 and $9,074 pledged as collateral) | 112,409 | 84,508 |
Total debt securities | 434,914 | 406,888 |
Loans and leases (includes $8,108 and $6,938 measured at fair value and $32,008 and $37,767 pledged as collateral) | 905,008 | 896,983 |
Allowance for loan and lease losses | (11,692) | (12,234) |
Loans and leases, net of allowance | 893,316 | 884,749 |
Premises and equipment, net | 9,133 | 9,485 |
Mortgage servicing rights (includes $2,477 and $3,087 measured at fair value) | 2,477 | 3,087 |
Goodwill | 69,744 | 69,761 |
Intangible assets | 3,168 | 3,768 |
Loans held-for-sale (includes $4,652 and $4,818 measured at fair value) | 10,586 | 7,453 |
Customer and other receivables | 54,116 | 58,312 |
Other assets (includes $13,891 and $14,320 measured at fair value) | 111,365 | 114,688 |
Total assets | 2,195,314 | 2,144,287 |
Deposits in U.S. offices: | ||
Noninterest-bearing | 431,418 | 422,237 |
Interest-bearing (includes $913 and $1,116 measured at fair value) | 728,498 | 703,761 |
Deposits in non-U.S. offices: | ||
Noninterest-bearing | 11,596 | 9,916 |
Interest-bearing | 61,383 | 61,345 |
Total deposits | 1,232,895 | 1,197,259 |
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $31,868 and $24,574 measured at fair value) | 178,195 | 174,291 |
Trading account liabilities | 76,998 | 66,963 |
Derivative liabilities | 43,484 | 38,450 |
Short-term borrowings (includes $1,055 and $1,325 measured at fair value) | 26,889 | 28,098 |
Accrued expenses and other liabilities (includes $15,813 and $13,899 measured at fair value and $767 and $646 of reserve for unfunded lending commitments) | 141,634 | 146,286 |
Long-term debt (includes $32,619 and $30,097 measured at fair value) | 225,136 | 236,764 |
Total liabilities | 1,925,231 | 1,888,111 |
Commitments and contingencies | ||
Shareholders' equity | ||
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,887,439 and 3,767,790 shares | 25,220 | 22,273 |
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,123,845,121 and 10,380,265,063 shares | 148,261 | 151,042 |
Retained earnings | 98,303 | 88,219 |
Accumulated other comprehensive income (loss) | (1,701) | (5,358) |
Total shareholders' equity | 270,083 | 256,176 |
Total liabilities and shareholders' equity | 2,195,314 | 2,144,287 |
Consolidated VIEs | ||
Assets | ||
Trading account assets (includes $103,042 and $107,776 pledged as collateral) | 5,699 | 6,344 |
Debt securities: | ||
Loans and leases (includes $8,108 and $6,938 measured at fair value and $32,008 and $37,767 pledged as collateral) | 57,826 | 72,946 |
Allowance for loan and lease losses | (1,085) | (1,320) |
Loans and leases, net of allowance | 56,741 | 71,626 |
Loans held-for-sale (includes $4,652 and $4,818 measured at fair value) | 209 | 284 |
Other assets (includes $13,891 and $14,320 measured at fair value) | 1,467 | 1,530 |
Total assets | 64,116 | 79,784 |
Deposits in non-U.S. offices: | ||
Short-term borrowings (includes $1,055 and $1,325 measured at fair value) | 546 | 681 |
Long-term debt (includes $32,619 and $30,097 measured at fair value) | 11,209 | 14,073 |
All other liabilities (includes $35 and $20 of non-recourse liabilities) | 38 | 21 |
Total liabilities | $ 11,793 | $ 14,775 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Federal funds sold and securities borrowed or purchased under agreements to resell measured at fair value | $ 51,638 | $ 55,143 |
Trading account assets, pledged as collateral | 103,042 | 107,776 |
Debt securities: | ||
Carried at fair value, pledged as collateral | 29,903 | 29,810 |
Held-to-maturity, fair value | 113,965 | 84,046 |
Held-to-maturity, pledged as collateral | 8,316 | 9,074 |
Loans and leases, measured at fair value | 8,108 | 6,938 |
Loans and leases, pledged as collateral | 32,008 | 37,767 |
Mortgage servicing rights, measured at fair value | 2,477 | 3,087 |
Loans held-for-sale, measured at fair value | 4,652 | 4,818 |
Other assets, measured at fair value | 13,891 | 14,320 |
Deposits in U.S. offices: | ||
Interest-bearing, measured at fair value | 913 | 1,116 |
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 31,868 | 24,574 |
Short-term borrowings, measured at fair value | 1,055 | 1,325 |
Accrued expenses and other liabilities, measured at fair value | 15,813 | 13,899 |
Accrued expenses and other liabilities, reserve for unfunded lending commitments | 767 | 646 |
Long-term debt, measured at fair value | $ 32,619 | $ 30,097 |
Shareholders' equity | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock issued (in shares) | 3,887,439 | 3,767,790 |
Preferred stock outstanding (in shares) | 3,887,439 | 3,767,790 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock authorized (in shares) | 12,800,000,000 | 12,800,000,000 |
Common stock issued (in shares) | 10,123,845,121 | 10,380,265,063 |
Common stock outstanding (in shares) | 10,123,845,121 | 10,380,265,063 |
Consolidated VIEs | Long-term debt | ||
Shareholders' equity | ||
Non-recourse debt | $ 10,531 | $ 11,304 |
Consolidated VIEs | Other liabilities | ||
Shareholders' equity | ||
Non-recourse debt | $ 35 | $ 20 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Preferred Stock | Common Stock and Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative adjustment for accounting change related to debit valuation adjustments | $ 0 | $ 1,226 | $ (1,226) | ||
Beginning Balance at Dec. 31, 2014 | 243,476 | $ 19,309 | $ 153,458 | 74,731 | (4,022) |
Beginning Balance (in shares) at Dec. 31, 2014 | 10,516,542 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 12,552 | 12,552 | |||
Net change in debt and marketable equity securities | 167 | 167 | |||
Net change in debit valuation adjustments | 633 | 633 | |||
Net change in derivatives | 416 | 416 | |||
Employee benefit plan adjustments | 77 | 77 | |||
Net change in foreign currency translation adjustments | (84) | (84) | |||
Dividends declared: | |||||
Common | (1,570) | (1,570) | |||
Preferred | (1,153) | (1,153) | |||
Issuance of preferred stock | 2,964 | 2,964 | |||
Common stock issued under employee plans and related tax effects (in shares) | 3,983 | ||||
Common stock issued under employee plans and related tax effects | (42) | $ (42) | |||
Common stock repurchased (in shares) | (93,220) | ||||
Common stock repurchased | (1,575) | $ (1,575) | |||
Ending Balance at Sep. 30, 2015 | 255,861 | 22,273 | $ 151,841 | 85,786 | (4,039) |
Ending Balance (in shares) at Sep. 30, 2015 | 10,427,305 | ||||
Beginning Balance at Dec. 31, 2015 | 256,176 | 22,273 | $ 151,042 | 88,219 | (5,358) |
Beginning Balance (in shares) at Dec. 31, 2015 | 10,380,265 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 13,210 | 13,210 | |||
Net change in debt and marketable equity securities | 3,319 | 3,319 | |||
Net change in debit valuation adjustments | 49 | 49 | |||
Net change in derivatives | 277 | 277 | |||
Employee benefit plan adjustments | 29 | 29 | |||
Net change in foreign currency translation adjustments | (17) | (17) | |||
Dividends declared: | |||||
Common | (1,805) | (1,805) | |||
Preferred | (1,321) | (1,321) | |||
Issuance of preferred stock | 2,947 | 2,947 | |||
Common stock issued under employee plans and related tax effects (in shares) | 5,082 | ||||
Common stock issued under employee plans and related tax effects | 1,001 | $ 1,001 | |||
Common stock repurchased (in shares) | (261,502) | ||||
Common stock repurchased | (3,782) | $ (3,782) | |||
Ending Balance at Sep. 30, 2016 | $ 270,083 | $ 25,220 | $ 148,261 | $ 98,303 | $ (1,701) |
Ending Balance (in shares) at Sep. 30, 2016 | 10,123,845 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating activities | ||
Net income | $ 13,210 | $ 12,552 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Provision for credit losses | 2,823 | 2,351 |
Gains on sales of debt securities | (490) | (886) |
Realized debit valuation adjustments on structured liabilities | 18 | 545 |
Depreciation and amortization of premises and equipment | 1,138 | 1,174 |
Amortization of intangibles | 554 | 632 |
Net amortization of premium/discount on debt securities | 2,203 | 1,438 |
Deferred income taxes | 5,072 | 2,590 |
Stock-based compensation | 1,087 | 17 |
Loans held-for-sale: | ||
Originations and purchases | (24,154) | (29,731) |
Proceeds from sales and paydowns of loans originally classified as held-for-sale | 21,068 | 27,726 |
Net change in: | ||
Trading and derivative instruments | 9,068 | 8,016 |
Other assets | (612) | (1,140) |
Accrued expenses and other liabilities | (4,845) | (1,637) |
Other operating activities, net | 522 | (938) |
Net cash provided by operating activities | 26,662 | 22,709 |
Net change in: | ||
Time deposits placed and other short-term investments | (762) | 1,289 |
Federal funds sold and securities borrowed or purchased under agreements to resell | (26,328) | (14,858) |
Debt securities carried at fair value: | ||
Proceeds from sales | 73,252 | 101,880 |
Proceeds from paydowns and maturities | 75,833 | 60,791 |
Purchases | (156,537) | (151,991) |
Held-to-maturity debt securities: | ||
Proceeds from paydowns and maturities | 12,827 | 10,129 |
Purchases | (29,085) | (16,260) |
Loans and leases: | ||
Proceeds from sales | 14,870 | 20,399 |
Purchases | (9,347) | (9,240) |
Other changes in loans and leases, net | (17,832) | (33,863) |
Other investing activities, net | 109 | (1,029) |
Net cash used in investing activities | (63,000) | (32,753) |
Net change in: | ||
Deposits | 35,636 | 43,073 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | 3,904 | (2,039) |
Short-term borrowings | (1,069) | 3,346 |
Long-term debt: | ||
Proceeds from issuance | 24,681 | 33,956 |
Retirement of long-term debt | (41,458) | (34,583) |
Proceeds from issuance of preferred stock | 2,947 | 2,964 |
Common stock repurchased | (3,782) | (1,575) |
Cash dividends paid | (3,031) | (2,724) |
Excess tax benefits on share-based payments | 11 | 16 |
Other financing activities, net | (14) | (30) |
Net cash provided by financing activities | 17,825 | 42,404 |
Effect of exchange rate changes on cash and cash equivalents | 2,594 | (523) |
Net increase (decrease) in cash and cash equivalents | (15,919) | 31,837 |
Cash and cash equivalents at January 1 | 159,353 | 138,589 |
Cash and cash equivalents at September 30 | $ 143,434 | $ 170,426 |
Summary of Significant Accounti
Summary of Significant Accounting Principles | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Principles | NOTE 1 – Summary of Significant Accounting Principles Bank of America 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. 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. 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 other income. The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. The Corporation's Annual Report on Form 10-K for the year ended December 31, 2015 as supplemented by a Current Report on Form 8-K filed on August 1, 2016 to reflect reclassified business segment information is referred to herein as the 2015 Annual Report on Form 10-K. These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of the Corporation's 2015 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. Change in Accounting Method Effective July 1, 2016, the Corporation changed its accounting method under the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 310-20, Nonrefundable fees and other costs , from the prepayment method (also referred to as the retrospective method) to the contractual method. Under the prepayment method, the Corporation's amortization of premiums and accretion of discounts related to certain debt securities was based on estimated principal prepayment assumptions on individual debt securities each reporting period. Prepayment experience, which is largely driven by interest rates, is continually evaluated to determine the estimated lives of the securities. When a change is made to the estimated lives of the securities, the related premium or discount is adjusted with a corresponding charge or benefit to interest income as if the current estimated lives had been applied since the acquisition of the securities. Accordingly, the application of the prepayment method results in a cumulative catch-up adjustment in each period, recorded in interest income. Under the contractual method, premiums and discounts on debt securities are amortized and accreted at a constant effective yield, and no assumption is made concerning prepayments. The cumulative catch-up adjustment that occurs under the prepayment method is therefore not required under the contractual method. Instead, as principal prepayments occur, the contractual method requires the acceleration of a portion of the unamortized premium or discount be recorded in interest income such that the effective yield of the debt security remains constant throughout the life of the debt security. The Corporation believes that the contractual method is the preferable method of accounting because it is consistent with the accounting method used by peer institutions in terms of net interest income, an important element in the statement of income. Additionally, the contractual method better aligns with the Corporation's asset and liability (ALM) strategy which acts to mitigate the risk that market conditions may adversely impact the value of the Corporation's assets and liabilities, and its financial results. Adoption of the contractual method of accounting is a voluntary change required to be adopted retrospectively. Therefore all prior periods presented herein have been restated to conform to the current period presentation. The following Notes have been impacted by the change in accounting method: Note 3 – Securities , Note 12 – Accumulated Other Comprehensive Income (Loss) , Note 13 – Earnings Per Common Share and Note 18 – Business Segment Information . The following is the impact of the change in accounting method on the three and six months ended June 30, 2016, and the 2015 periods presented in the consolidated financial statements herein. The impact is expressed as an increase / (decrease) as compared to amounts originally reported. For the three and six months ended June 30, 2016: net interest income — $905 million and $ 2.2 billion , gains on sales of debt securities — $ (18) million and $ (54) million , and net income — $ 551 million , or $ 0.05 per diluted share, and $ 1.3 billion , or $ 0.13 per diluted share, respectively. For the three and nine months ended September 30, 2015 : net interest income — $429 million and $(71) million , gains on sales of debt securities — $52 million and $65 million , and net income — $298 million , or $ 0.03 per diluted share, and $0 , or $ 0.00 per diluted share, respectively. The change in accounting method decreased retained earnings $293 million at January 1, 2015. Since the change in accounting method was effective July 1, 2016 and the financial results under the prepayment method as compared to the contractual method would not affect future management decisions, the Corporation did not undertake the operational effort and cost to maintain separate systems of record for the prepayment method to enable a calculation of the impact of the change subsequent to the effective date. As a result, the impact of the change in accounting method for the three and nine months ended September 30, 2016 is not disclosed. New Accounting Pronouncements In August 2016, the FASB issued new accounting guidance that addresses classification of certain cash receipts and cash payments in the statement of cash flows. The new guidance is effective on January 1, 2018, on a retrospective basis, with early adoption permitted. This new accounting guidance will result in some changes in classification in the Consolidated Statement of Cash Flows, which the Corporation does not expect will be significant, and will not have any impact on its consolidated financial position or results of operations. In June 2016, the FASB issued new accounting guidance that will require the earlier recognition of credit losses on loans and other financial instruments based on an expected loss model, replacing the incurred loss model that is currently in use. Under the new guidance, an entity will measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) debt securities and other debt instruments measured at amortized cost. The impairment model for available-for-sale (AFS) debt securities will require the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. The new guidance is effective on January 1, 2020, with early adoption permitted on January 1, 2019. The Corporation is in the process of evaluating the impact of the provisions of this new accounting guidance, which at the date of adoption will increase the allowance for credit losses with a resulting negative adjustment to retained earnings. In March 2016, the FASB issued new accounting guidance that simplifies certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective on January 1, 2017, with early adoption permitted. The Corporation does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In February 2016, the FASB issued new accounting guidance that requires substantially all leases to be recorded as assets and liabilities on the balance sheet. This new accounting guidance is effective on January 1, 2019, with early adoption permitted. Upon adoption, the Corporation will record a right of use asset and a lease payment obligation associated with arrangements previously accounted for as operating leases. The Corporation is in the process of evaluating the impact of the provisions of this new accounting guidance on its consolidated financial position, but does not expect the new accounting guidance to have a material impact on its consolidated financial position or results of operations. In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing GAAP including, among other provisions, requiring certain equity investments to be measured at fair value with changes in fair value reported in earnings and requiring changes in instrument-specific credit risk (i.e., debit valuation adjustments (DVA)) for financial liabilities recorded at fair value under the fair value option to be reported in OCI. The accounting for DVA related to other financial liabilities, for example, derivatives, does not change. The new guidance is effective on January 1, 2018, with early adoption permitted for the provisions related to DVA. In 2015, the Corporation early adopted, retrospective to January 1, 2015, the provisions of this new accounting guidance related to DVA on financial liabilities accounted for under the fair value option. The Corporation does not expect the provisions of this new accounting guidance other than those related to DVA, as described above, to have a material impact on its consolidated financial position or results of operations. In May 2014, the FASB issued new accounting guidance to clarify the principles for recognizing revenue from contracts with customers. This new accounting guidance, which does not apply to financial instruments, is effective on January 1, 2018. The Corporation does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | NOTE 2 – 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 2015 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, 2016 and December 31, 2015 . 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, 2016 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Hedges Total Trading and Other Risk Management Derivatives Qualifying Hedges Total Interest rate contracts Swaps $ 17,341.7 $ 548.5 $ 10.0 $ 558.5 $ 548.0 $ 0.8 $ 548.8 Futures and forwards 6,196.4 1.3 — 1.3 1.3 — 1.3 Written options 1,287.7 — — — 73.4 — 73.4 Purchased options 1,343.3 73.5 — 73.5 — — — Foreign exchange contracts Swaps 1,949.9 41.4 1.2 42.6 44.3 2.9 47.2 Spot, futures and forwards 4,191.7 41.1 1.5 42.6 41.1 0.8 41.9 Written options 376.2 — — — 8.0 — 8.0 Purchased options 355.0 7.6 — 7.6 — — — Equity contracts Swaps 194.4 3.1 — 3.1 3.5 — 3.5 Futures and forwards 79.7 1.6 — 1.6 1.1 — 1.1 Written options 463.2 — — — 25.7 — 25.7 Purchased options 417.9 24.9 — 24.9 — — — Commodity contracts Swaps 48.9 2.8 — 2.8 5.3 — 5.3 Futures and forwards 50.5 3.5 — 3.5 0.4 — 0.4 Written options 36.0 — — — 2.6 — 2.6 Purchased options 35.7 2.5 — 2.5 — — — Credit derivatives Purchased credit derivatives: Credit default swaps 811.8 9.1 — 9.1 13.1 — 13.1 Total return swaps/other 31.5 0.2 — 0.2 1.7 — 1.7 Written credit derivatives: Credit default swaps 803.2 13.4 — 13.4 8.2 — 8.2 Total return swaps/other 43.2 1.2 — 1.2 0.4 — 0.4 Gross derivative assets/liabilities $ 775.7 $ 12.7 $ 788.4 $ 778.1 $ 4.5 $ 782.6 Less: Legally enforceable master netting agreements (694.0 ) (694.0 ) Less: Cash collateral received/paid (46.5 ) (45.1 ) Total derivative assets/liabilities $ 47.9 $ 43.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. December 31, 2015 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1, 2) Trading and Other Risk Management Derivatives Qualifying Hedges Total Trading and Other Risk Management Derivatives Qualifying Hedges Total Interest rate contracts Swaps $ 21,706.8 $ 439.6 $ 7.4 $ 447.0 $ 440.8 $ 1.2 $ 442.0 Futures and forwards 6,237.6 1.1 — 1.1 1.3 — 1.3 Written options 1,313.8 — — — 57.6 — 57.6 Purchased options 1,393.3 58.9 — 58.9 — — — Foreign exchange contracts Swaps 2,149.9 49.2 0.9 50.1 52.2 2.8 55.0 Spot, futures and forwards 4,104.3 46.0 1.2 47.2 45.8 0.3 46.1 Written options 467.2 — — — 10.6 — 10.6 Purchased options 439.9 10.2 — 10.2 — — — Equity contracts Swaps 201.2 3.3 — 3.3 3.8 — 3.8 Futures and forwards 72.8 2.1 — 2.1 1.2 — 1.2 Written options 347.6 — — — 21.1 — 21.1 Purchased options 320.3 23.8 — 23.8 — — — Commodity contracts Swaps 47.0 4.7 — 4.7 7.1 — 7.1 Futures and forwards 45.6 3.8 — 3.8 0.7 — 0.7 Written options 36.6 — — — 4.4 — 4.4 Purchased options 37.4 4.2 — 4.2 — — — Credit derivatives Purchased credit derivatives: Credit default swaps 928.3 14.4 — 14.4 14.8 — 14.8 Total return swaps/other 26.4 0.2 — 0.2 1.9 — 1.9 Written credit derivatives: Credit default swaps 924.1 15.3 — 15.3 13.1 — 13.1 Total return swaps/other 39.7 2.3 — 2.3 0.4 — 0.4 Gross derivative assets/liabilities $ 679.1 $ 9.5 $ 688.6 $ 676.8 $ 4.3 $ 681.1 Less: Legally enforceable master netting agreements (2) (596.7 ) (596.7 ) Less: Cash collateral received/paid (41.9 ) (45.9 ) Total derivative assets/liabilities $ 50.0 $ 38.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The notional amount for certain derivatives has been reduced to reflect the impact of legally closed positions, which had no impact on the net fair value. 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 Offsetting of Derivatives table presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 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 which includes reducing the balance for counterparty netting and 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 instruments collateral related to legally enforceable master netting agreements that represents securities collateral received or pledged and cash and securities collateral held and posted 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 9 – Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings . Offsetting of Derivatives September 30, 2016 December 31, 2015 (Dollars in billions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Interest rate contracts Over-the-counter $ 370.8 $ 359.1 $ 309.3 $ 297.2 Over-the-counter cleared 258.5 259.8 197.0 201.7 Foreign exchange contracts Over-the-counter 89.5 94.0 103.2 107.5 Over-the-counter cleared 0.4 0.3 0.1 0.1 Equity contracts Over-the-counter 15.1 13.5 16.6 14.0 Exchange-traded (1) 11.6 14.3 10.0 9.2 Commodity contracts Over-the-counter 4.1 5.4 7.3 8.9 Exchange-traded (1) 1.3 1.4 1.8 1.8 Over-the-counter cleared — — 0.1 0.1 Credit derivatives Over-the-counter 17.3 17.0 24.6 22.9 Over-the-counter cleared 5.9 5.8 6.5 6.4 Total gross derivative assets/liabilities, before netting Over-the-counter 496.8 489.0 461.0 450.5 Exchange-traded (1) 12.9 15.7 11.8 11.0 Over-the-counter cleared 264.8 265.9 203.7 208.3 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (466.4 ) (463.6 ) (426.6 ) (425.7 ) Exchange-traded (1) (9.7 ) (9.7 ) (8.7 ) (8.7 ) Over-the-counter cleared (264.4 ) (265.8 ) (203.3 ) (208.2 ) Derivative assets/liabilities, after netting 34.0 31.5 37.9 27.2 Other gross derivative assets/liabilities 13.9 12.0 12.1 11.3 Total derivative assets/liabilities 47.9 43.5 50.0 38.5 Less: Financial instruments collateral (2) (14.6 ) (14.1 ) (13.9 ) (6.5 ) Total net derivative assets/liabilities $ 33.3 $ 29.4 $ 36.1 $ 32.0 (1) The notional amount for certain derivatives has been reduced to reflect the impact of legally closed positions, which had no impact on the net fair value. (2) 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 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 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 17 – 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. 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. 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 information related to fair value hedges for the three and nine months ended September 30, 2016 and 2015 , including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated at that time. 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 2016 2016 (Dollars in millions) Derivative Hedged Item Hedge Ineffectiveness Derivative Hedged Item Hedge Ineffectiveness Interest rate risk on long-term debt (1) $ (758 ) $ 580 $ (178 ) $ 3,166 $ (3,654 ) $ (488 ) Interest rate and foreign currency risk on long-term debt (1) 16 (10 ) 6 360 (369 ) (9 ) Interest rate risk on available-for-sale securities (2) 235 (250 ) (15 ) (131 ) 80 (51 ) Price risk on commodity inventory (3) 6 (6 ) — — — — Total $ (501 ) $ 314 $ (187 ) $ 3,395 $ (3,943 ) $ (548 ) 2015 2015 Interest rate risk on long-term debt (1) $ 1,921 $ (2,111 ) $ (190 ) $ 724 $ (1,362 ) $ (638 ) Interest rate and foreign currency risk on long-term debt (1) (138 ) 125 (13 ) (1,394 ) 1,311 (83 ) Interest rate risk on available-for-sale securities (2) (6 ) (1 ) (7 ) 39 (49 ) (10 ) Price risk on commodity inventory (3) 2 (2 ) — 15 (11 ) 4 Total $ 1,779 $ (1,989 ) $ (210 ) $ (616 ) $ (111 ) $ (727 ) (1) Amounts are recorded in interest expense on long-term debt and in other income. (2) Amounts are recorded in interest income on debt securities. (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, 2016 and 2015 . Of the $800 million after-tax net loss ( $1.3 billion on a pretax basis) on derivatives in accumulated OCI at September 30, 2016 , $245 million after-tax ( $392 million on a pretax basis) is expected to be reclassified into earnings in the next 12 months. These net losses reclassified into earnings are expected to primarily reduce net interest income related to the respective hedged items. Amounts related to price risk on restricted stock awards reclassified from accumulated OCI are recorded in personnel expense. For terminated cash flow hedges, the time period over which substantially all of the forecasted transactions are hedged is approximately seven years , with a maximum length of time for certain forecasted transactions of 20 years . Derivatives Designated as Cash Flow and Net Investment Hedges Three Months Ended September 30 Nine Months Ended September 30 2016 2016 (Dollars in millions, amounts pretax) 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 $ (8 ) $ (119 ) $ (4 ) $ 50 $ (447 ) $ 2 Price risk on restricted stock awards (2) 85 (8 ) — (114 ) (61 ) — Total $ 77 $ (127 ) $ (4 ) $ (64 ) $ (508 ) $ 2 Net investment hedges Foreign exchange risk $ 214 $ 2 $ (68 ) $ 173 $ 3 $ (234 ) 2015 2015 Cash flow hedges Interest rate risk on variable-rate portfolios $ 94 $ (254 ) $ 4 $ 99 $ (768 ) $ 3 Price risk on restricted stock awards (2) (112 ) 30 — (141 ) 57 — Total $ (18 ) $ (224 ) $ 4 $ (42 ) $ (711 ) $ 3 Net investment hedges Foreign exchange risk $ 1,407 $ 14 $ (98 ) $ 2,397 $ 98 $ (185 ) (1) Amounts related to cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing. (2) The hedge gain (loss) recognized in accumulated OCI is primarily related to the change in the Corporation's stock price for the period. 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, 2016 and 2015 . 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) 2016 2015 2016 2015 Interest rate risk on mortgage banking income (1) $ 57 $ 474 $ 882 $ 380 Credit risk on loans (2) (7 ) 24 (103 ) (34 ) Interest rate and foreign currency risk on ALM activities (3) (262 ) (527 ) (1,970 ) (202 ) Price risk on restricted stock awards (4) 199 (229 ) (569 ) (473 ) Other — 22 40 15 (1) Net gains (losses) on these derivatives are recorded in mortgage banking income as they are used to mitigate the interest rate risk related to MSRs, interest rate lock commitments (IRLCs) and mortgage loans held-for-sale (LHFS), all of which are measured at fair value with changes in fair value recorded in mortgage banking income. The net gains on IRLCs related to the origination of mortgage loans that are held-for-sale, which are not included in the table but are considered derivative instruments, were $185 million and $514 million for the three and nine months ended September 30, 2016 compared to $184 million and $611 million for the same periods in 2015 . (2) Primarily related to derivatives that are economic hedges of credit risk on loans. Net gains (losses) on these derivatives are recorded in other income. (3) Primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Gains (losses) on these derivatives and the related hedged items are recorded in other income. (4) Gains (losses) on these derivatives are recorded in personnel expense. Transfers of Financial Assets with Risk Retained through Derivatives The Corporation enters into certain transactions involving the transfer of financial assets that are accounted for as sales where substantially all of the economic exposure to the transferred financial assets is retained through derivatives (e.g., interest rate and/or credit), but the Corporation does not retain control over the assets transferred. Through September 30, 2016 and December 31, 2015 , the Corporation transferred $6.9 billion and $7.9 billion of primarily non-U.S. government-guaranteed mortgage-backed securities (MBS) to a third-party trust and received gross cash proceeds of $6.9 billion and $7.9 billion at the transfer dates. At September 30, 2016 and December 31, 2015 , the fair value of these securities was $6.7 billion and $7.2 billion . Derivative assets of $28 million and $24 million and liabilities of $30 million and $29 million were recorded at September 30, 2016 and December 31, 2015 , and are included in credit derivatives in the derivative instruments table on page 103 . 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. 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, the majority of 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. 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, 2016 and 2015 . 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 and funding valuation adjustment (DVA/FVA) gains (losses). Global Markets results in Note 18 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on an FTE basis. Sales and Trading Revenue Three Months Ended September 30 Nine Months Ended September 30 2016 2016 (Dollars in millions) Trading Account Profits Net Interest Income Other (1) Total Trading Net Interest Income Other (1) Total Interest rate risk $ 514 $ 304 $ 82 $ 900 $ 1,438 $ 1,063 $ 207 $ 2,708 Foreign exchange risk 319 (4 ) (39 ) 276 1,003 (7 ) (111 ) 885 Equity risk 461 30 467 958 1,478 11 1,574 3,063 Credit risk 597 639 123 1,359 1,218 1,910 380 3,508 Other risk 43 7 10 60 264 (19 ) 35 280 Total sales and trading revenue $ 1,934 $ 976 $ 643 $ 3,553 $ 5,401 $ 2,958 $ 2,085 $ 10,444 2015 2015 Interest rate risk $ 405 $ 333 $ 50 $ 788 $ 1,269 $ 924 $ (327 ) $ 1,866 Foreign exchange risk 310 (4 ) (36 ) 270 1,052 (6 ) (99 ) 947 Equity risk 558 38 547 1,143 1,795 15 1,638 3,448 Credit risk 84 614 99 797 825 1,776 406 3,007 Other risk 114 (24 ) 24 114 371 (62 ) 51 360 Total sales and trading revenue $ 1,471 $ 957 $ 684 $ 3,112 $ 5,312 $ 2,647 $ 1,669 $ 9,628 (1) Represents amounts in investment and brokerage services and other income that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $485 million and $1.6 billion for the three and nine months ended September 30, 2016 and $568 million and $1.7 billion for the same periods in 2015 . 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 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. The Corporation discloses internal categorizations of investment grade and non-investment grade consistent with how risk is managed for these instruments. Credit Derivative Instruments September 30, 2016 Carrying Value (Dollars in millions) Less than One Year One to Three Years Three to Five Years Over Five Years Total Credit default swaps: Investment grade $ 22 $ 59 $ 526 $ 918 $ 1,525 Non-investment grade 461 1,241 1,175 3,797 6,674 Total 483 1,300 1,701 4,715 8,199 Total return swaps/other: Investment grade 13 — — — 13 Non-investment grade 305 27 2 3 337 Total 318 27 2 3 350 Total credit derivatives $ 801 $ 1,327 $ 1,703 $ 4,718 $ 8,549 Credit-related notes: Investment grade $ 1 $ 57 $ 589 $ 1,486 $ 2,133 Non-investment grade 55 58 85 1,204 1,402 Total credit-related notes $ 56 $ 115 $ 674 $ 2,690 $ 3,535 Maximum Payout/Notional Credit default swaps: Investment grade $ 156,227 $ 210,797 $ 142,483 $ 33,151 $ 542,658 Non-investment grade 86,898 97,759 53,549 22,347 260,553 Total 243,125 308,556 196,032 55,498 803,211 Total return swaps/other: Investment grade 12,623 — — — 12,623 Non-investment grade 24,299 5,485 591 230 30,605 Total 36,922 5,485 591 230 43,228 Total credit derivatives $ 280,047 $ 314,041 $ 196,623 $ 55,728 $ 846,439 December 31, 2015 Carrying Value Credit default swaps: Investment grade $ 84 $ 481 $ 2,203 $ 680 $ 3,448 Non-investment grade 672 3,035 2,386 3,583 9,676 Total 756 3,516 4,589 4,263 13,124 Total return swaps/other: Investment grade 5 — — — 5 Non-investment grade 171 236 8 2 417 Total 176 236 8 2 422 Total credit derivatives $ 932 $ 3,752 $ 4,597 $ 4,265 $ 13,546 Credit-related notes: Investment grade $ 267 $ 57 $ 444 $ 2,203 $ 2,971 Non-investment grade 61 118 117 1,264 1,560 Total credit-related notes $ 328 $ 175 $ 561 $ 3,467 $ 4,531 Maximum Payout/Notional Credit default swaps: Investment grade $ 149,177 $ 280,658 $ 178,990 $ 26,352 $ 635,177 Non-investment grade 81,596 135,850 53,299 18,221 288,966 Total 230,773 416,508 232,289 44,573 924,143 Total return swaps/other: Investment grade 9,758 — — — 9,758 Non-investment grade 20,917 6,989 1,371 623 29,900 Total 30,675 6,989 1,371 623 39,658 Total credit derivatives $ 261,448 $ 423,497 $ 233,660 $ 45,196 $ 963,801 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 $4.9 billion and $623.0 billion at September 30, 2016 , and $8.2 billion and $706.0 billion at December 31, 2015 . Credit-related notes in the table on page 111 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. 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. A significant majority 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 103 , 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, 2016 and December 31, 2015 , the Corporation held cash and securities collateral of $86.1 billion and $78.9 billion , and posted cash and securities collateral of $70.6 billion and $62.7 billion in the normal course of business under derivative agreements. This excludes cross-product margining agreements where clients are permitted to margin on a net basis for both derivative and secured financing arrangements. 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 additiona |
Securities
Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 3 – Securities The table below presents the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value, HTM debt securities and AFS marketable equity securities at September 30, 2016 and December 31, 2015 . For information on the Corporation's change in accounting method for amortization of premiums and accretion of discounts on certain debt securities, see Note 1 – Summary of Significant Accounting Principles . Debt Securities and Available-for-Sale Marketable Equity Securities September 30, 2016 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale debt securities Mortgage-backed securities: Agency $ 196,808 $ 4,266 $ (23 ) $ 201,051 Agency-collateralized mortgage obligations 8,862 243 (24 ) 9,081 Commercial 12,555 383 (2 ) 12,936 Non-agency residential (1) 1,476 180 (38 ) 1,618 Total mortgage-backed securities 219,701 5,072 (87 ) 224,686 U.S. Treasury and agency securities 44,925 363 (4 ) 45,284 Non-U.S. securities 5,995 19 (4 ) 6,010 Other taxable securities, substantially all asset-backed securities 9,375 73 (32 ) 9,416 Total taxable securities 279,996 5,527 (127 ) 285,396 Tax-exempt securities 15,917 97 (30 ) 15,984 Total available-for-sale debt securities 295,913 5,624 (157 ) 301,380 Other debt securities carried at fair value 21,222 114 (211 ) 21,125 Total debt securities carried at fair value 317,135 5,738 (368 ) 322,505 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 112,409 1,647 (91 ) 113,965 Total debt securities (2) $ 429,544 $ 7,385 $ (459 ) $ 436,470 Available-for-sale marketable equity securities (3) $ 325 $ 57 $ (28 ) $ 354 December 31, 2015 Available-for-sale debt securities Mortgage-backed securities: Agency $ 229,356 $ 1,061 $ (1,470 ) $ 228,947 Agency-collateralized mortgage obligations 10,892 148 (55 ) 10,985 Commercial 7,200 30 (65 ) 7,165 Non-agency residential (1) 3,031 219 (71 ) 3,179 Total mortgage-backed securities 250,479 1,458 (1,661 ) 250,276 U.S. Treasury and agency securities 25,075 211 (9 ) 25,277 Non-U.S. securities 5,743 27 (3 ) 5,767 Other taxable securities, substantially all asset-backed securities 10,475 54 (84 ) 10,445 Total taxable securities 291,772 1,750 (1,757 ) 291,765 Tax-exempt securities 13,978 63 (33 ) 14,008 Total available-for-sale debt securities 305,750 1,813 (1,790 ) 305,773 Other debt securities carried at fair value 16,678 103 (174 ) 16,607 Total debt securities carried at fair value 322,428 1,916 (1,964 ) 322,380 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 84,508 330 (792 ) 84,046 Total debt securities (2) $ 406,936 $ 2,246 $ (2,756 ) $ 406,426 Available-for-sale marketable equity securities (3) $ 326 $ 99 $ — $ 425 (1) At September 30, 2016 and December 31, 2015 , the underlying collateral type included approximately 57 percent and 71 percent prime, 25 percent and 15 percent Alt-A, and 18 percent and 14 percent subprime. (2) The Corporation had debt securities from Fannie Mae (FNMA) and Freddie Mac (FHLMC) that each exceeded 10 percent of shareholders' equity, with an amortized cost of $154.7 billion and $51.1 billion , and a fair value of $158.0 billion and $52.4 billion at September 30, 2016 . Debt securities from FNMA and FHLMC that exceeded 10 percent of shareholders' equity had an amortized cost of $145.8 billion and $53.3 billion , and a fair value of $145.5 billion and $53.2 billion at December 31, 2015 . (3) Classified in other assets on the Consolidated Balance Sheet. At September 30, 2016 , the accumulated net unrealized gain on AFS debt securities included in accumulated OCI was $3.4 billion , net of the related income tax expense of $2.1 billion . At September 30, 2016 and December 31, 2015 , the Corporation had nonperforming AFS debt securities of $125 million and $188 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. In the three and nine months ended September 30, 2016 , the Corporation recorded unrealized mark-to-market net gains of $47 million and net losses of $25 million , and realized net losses of $28 million and $65 million , compared to unrealized mark-to-market net gains of $212 million and $57 million , and realized net losses of $147 million and $168 million , for the same periods in 2015 . These amounts exclude hedge results. Other Debt Securities Carried at Fair Value (Dollars in millions) September 30 December 31 Mortgage-backed securities: Agency-collateralized mortgage obligations $ 6 $ 7 Non-agency residential 3,193 3,490 Total mortgage-backed securities 3,199 3,497 Non-U.S. securities (1) 17,680 12,843 Other taxable securities, substantially all asset-backed securities 246 267 Total $ 21,125 $ 16,607 (1) These securities are primarily used to satisfy certain international regulatory liquidity requirements. The gross realized gains and losses on sales of AFS debt securities for the three and nine months ended September 30, 2016 and 2015 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) 2016 2015 2016 2015 Gross gains $ 57 $ 441 $ 513 $ 899 Gross losses (6 ) (4 ) (23 ) (13 ) Net gains on sales of AFS debt securities $ 51 $ 437 $ 490 $ 886 Income tax expense attributable to realized net gains on sales of AFS debt securities $ 19 $ 166 $ 186 $ 337 The table below presents the fair value and the associated gross unrealized losses on AFS debt securities and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer at September 30, 2016 and December 31, 2015 . Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities September 30, 2016 Less than Twelve Months Twelve Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Temporarily impaired AFS debt securities Mortgage-backed securities: Agency $ 1,591 $ (2 ) $ 4,105 $ (21 ) $ 5,696 $ (23 ) Agency-collateralized mortgage obligations 604 (3 ) 1,133 (21 ) 1,737 (24 ) Commercial 941 (2 ) — — 941 (2 ) Non-agency residential — — 237 (16 ) 237 (16 ) Total mortgage-backed securities 3,136 (7 ) 5,475 (58 ) 8,611 (65 ) U.S. Treasury and agency securities 2,213 (4 ) — — 2,213 (4 ) Non-U.S. securities 273 (1 ) 133 (3 ) 406 (4 ) Other taxable securities, substantially all asset-backed securities 3,499 (8 ) 1,448 (24 ) 4,947 (32 ) Total taxable securities 9,121 (20 ) 7,056 (85 ) 16,177 (105 ) Tax-exempt securities 2,731 (11 ) 1,077 (19 ) 3,808 (30 ) Total temporarily impaired AFS debt securities 11,852 (31 ) 8,133 (104 ) 19,985 (135 ) Other-than-temporarily impaired AFS debt securities (1) Non-agency residential mortgage-backed securities 21 (1 ) 387 (21 ) 408 (22 ) Total temporarily impaired and other-than-temporarily impaired AFS debt securities $ 11,873 $ (32 ) $ 8,520 $ (125 ) $ 20,393 $ (157 ) December 31, 2015 Temporarily impaired AFS debt securities Mortgage-backed securities: Agency $ 115,502 $ (1,082 ) $ 13,083 $ (388 ) $ 128,585 $ (1,470 ) Agency-collateralized mortgage obligations 2,536 (19 ) 1,212 (36 ) 3,748 (55 ) Commercial 4,587 (65 ) — — 4,587 (65 ) Non-agency residential 553 (5 ) 723 (33 ) 1,276 (38 ) Total mortgage-backed securities 123,178 (1,171 ) 15,018 (457 ) 138,196 (1,628 ) U.S. Treasury and agency securities 1,172 (5 ) 190 (4 ) 1,362 (9 ) Non-U.S. securities — — 134 (3 ) 134 (3 ) Other taxable securities, substantially all asset-backed securities 4,936 (67 ) 869 (17 ) 5,805 (84 ) Total taxable securities 129,286 (1,243 ) 16,211 (481 ) 145,497 (1,724 ) Tax-exempt securities 4,400 (12 ) 1,877 (21 ) 6,277 (33 ) Total temporarily impaired AFS debt securities 133,686 (1,255 ) 18,088 (502 ) 151,774 (1,757 ) Other-than-temporarily impaired AFS debt securities (1) Non-agency residential mortgage-backed securities 481 (19 ) 98 (14 ) 579 (33 ) Total temporarily impaired and other-than-temporarily impaired AFS debt securities $ 134,167 $ (1,274 ) $ 18,186 $ (516 ) $ 152,353 $ (1,790 ) (1) Includes other-than-temporarily impaired AFS debt securities on which an other-than-temporary impairment (OTTI) loss, primarily related to changes in interest rates, remains in accumulated OCI. The Corporation recorded OTTI losses on AFS debt securities for the three and nine months ended September 30, 2016 and 2015 as presented in the Net Credit-related Impairment Losses Recognized in Earnings table. Substantially all OTTI losses in the three and nine months ended September 30, 2016 and 2015 consisted of credit losses on non-agency residential mortgage-backed securities (RMBS) and were recorded in other income in the Consolidated Statement of Income. 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 a debt security 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, accordingly, are recorded in the Consolidated Statement of Income with the remaining unrealized losses recorded in OCI. In certain instances, the credit loss on a debt security may exceed the total impairment, in which case, the excess of the credit loss over the total impairment is recorded as an unrealized gain in OCI. Net Credit-related Impairment Losses Recognized in Earnings Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Total OTTI losses $ (6 ) $ (5 ) $ (27 ) $ (87 ) Less: non-credit portion of total OTTI losses recognized in OCI 4 3 13 10 Net credit-related impairment losses recognized in earnings $ (2 ) $ (2 ) $ (14 ) $ (77 ) The table below presents a rollforward of the credit losses recognized in earnings for the three and nine months ended September 30, 2016 and 2015 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 OTTI Credit Losses Recognized Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Balance, beginning of period $ 246 $ 261 $ 266 $ 200 Additions for credit losses recognized on AFS debt securities that had no previous impairment losses — 1 2 50 Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses 2 — 12 26 Reductions for AFS debt securities matured, sold or intended to be sold — — (32 ) (14 ) Balance, September 30 $ 248 $ 262 $ 248 $ 262 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 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 RMBS were as follows at September 30, 2016 . Significant Assumptions Range (1) Weighted- average 10th Percentile (2) 90th Percentile (2) Annual prepayment speed 14.2 % 4.9 % 28.0 % Loss severity 20.1 8.7 36.8 Life default rate 20.6 0.7 78.2 (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 Fair Isaac Corporation (FICO) scores, and geographic concentrations. The weighted-average severity by collateral type was 17.3 percent for prime, 18.8 percent for Alt-A and 30.6 percent for subprime at September 30, 2016 . Additionally, default rates are projected by considering collateral characteristics including, but not limited to, LTV, FICO score and geographic concentration. Weighted-average life default rates by collateral type were 14.2 percent for prime, 21.8 percent for Alt-A and 21.5 percent for subprime at September 30, 2016 . The remaining contractual maturity distribution and yields of the Corporation's debt securities carried at fair value and HTM debt securities at September 30, 2016 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the mortgage or other asset-backed securities are passed through to the Corporation. Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities September 30, 2016 Due in One Year or Less Due after One Year through Five Years Due after Five Years through Ten Years Due after Ten Years Total (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 Mortgage-backed securities: Agency $ 2 5.24 % $ 79 2.99 % $ 405 2.58 % $ 196,322 3.26 % $ 196,808 3.25 % Agency-collateralized mortgage obligations — — — — — — 8,867 3.19 8,867 3.19 Commercial 48 8.56 499 1.89 10,891 2.46 1,117 2.22 12,555 2.44 Non-agency residential — — — — — — 4,767 8.15 4,767 8.15 Total mortgage-backed securities 50 8.43 578 2.04 11,296 2.46 211,073 3.36 222,997 3.31 U.S. Treasury and agency securities 534 0.31 30,312 1.30 13,862 1.51 217 5.46 44,925 1.37 Non-U.S. securities 22,106 0.64 1,035 1.89 262 1.43 264 6.56 23,667 0.77 Other taxable securities, substantially all asset-backed securities 1,818 1.40 4,021 1.65 2,447 2.77 1,343 3.30 9,629 2.12 Total taxable securities 24,508 0.71 35,946 1.37 27,867 2.01 212,897 3.37 301,218 2.78 Tax-exempt securities 1,569 0.99 6,025 1.25 6,402 1.43 1,921 1.35 15,917 1.31 Total amortized cost of debt securities carried at fair value $ 26,077 0.73 $ 41,971 1.35 $ 34,269 1.90 $ 214,818 3.35 $ 317,135 2.71 Amortized cost of HTM debt securities (2) $ — — $ 16 3.54 $ 904 2.40 $ 111,489 3.06 $ 112,409 3.06 Debt securities carried at fair value Mortgage-backed securities: Agency $ 2 $ 54 $ 414 $ 200,581 $ 201,051 Agency-collateralized mortgage obligations — — — 9,087 9,087 Commercial 48 506 11,257 1,125 12,936 Non-agency residential — — — 4,811 4,811 Total mortgage-backed securities 50 560 11,671 215,604 227,885 U.S. Treasury and agency securities 535 30,565 13,947 237 45,284 Non-U.S. securities 22,113 1,040 264 273 23,690 Other taxable securities, substantially all asset-backed securities 1,816 3,982 2,496 1,368 9,662 Total taxable securities 24,514 36,147 28,378 217,482 306,521 Tax-exempt securities 1,570 6,033 6,473 1,908 15,984 Total debt securities carried at fair value $ 26,084 $ 42,180 $ 34,851 $ 219,390 $ 322,505 Fair value of HTM debt securities (2) $ — $ 16 $ 921 $ 113,028 $ 113,965 (1) The average yield is computed based on a constant effective interest rate over the contractual life of each security. The average yield considers the contractual coupon and the amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives. (2) Substantially all U.S. agency MBS. |
Outstanding Loans and Leases
Outstanding Loans and Leases | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Outstanding Loans and Leases | NOTE 4 – Outstanding Loans and Leases The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2016 and December 31, 2015 . September 30, 2016 (Dollars in millions) 30-59 Days (1) 60-89 Days (1) 90 Days or Past Due (2) Total Past Due 30 Days or More Total Current or Less Than 30 Days Past Due (3) Purchased (4) Loans Accounted for Under the Fair Value Option Total Consumer real estate Core portfolio Residential mortgage $ 1,100 $ 337 $ 1,244 $ 2,681 $ 147,810 $ 150,491 Home equity 222 107 464 793 50,131 50,924 Non-core portfolio Residential mortgage (5) 1,402 717 5,803 7,922 18,941 $ 10,614 37,477 Home equity 291 137 865 1,293 12,926 3,854 18,073 Credit card and other consumer U.S. credit card 443 314 702 1,459 87,330 88,789 Non-U.S. credit card 32 28 65 125 9,133 9,258 Direct/Indirect consumer (6) 223 62 29 314 92,980 93,294 Other consumer (7) 25 6 4 35 2,354 2,389 Total consumer 3,738 1,708 9,176 14,622 421,605 14,468 450,695 Consumer loans accounted for under the fair value option (8) $ 1,768 1,768 Total consumer loans and leases 3,738 1,708 9,176 14,622 421,605 14,468 1,768 452,463 Commercial U.S. commercial 260 142 310 712 266,307 267,019 Commercial real estate (9) 19 19 38 76 57,227 57,303 Commercial lease financing 63 39 32 134 21,175 21,309 Non-U.S. commercial 1 18 3 22 87,475 87,497 U.S. small business commercial 51 41 79 171 12,906 13,077 Total commercial 394 259 462 1,115 445,090 446,205 Commercial loans accounted for under the fair value option (8) 6,340 6,340 Total commercial loans and leases 394 259 462 1,115 445,090 6,340 452,545 Total loans and leases (10) $ 4,132 $ 1,967 $ 9,638 $ 15,737 $ 866,695 $ 14,468 $ 8,108 $ 905,008 Percentage of outstandings 0.46 % 0.22 % 1.06 % 1.74 % 95.76 % 1.60 % 0.90 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $1.1 billion and nonperforming loans of $306 million . Consumer real estate loans 60-89 days past due includes fully-insured loans of $603 million and nonperforming loans of $233 million . (2) Consumer real estate includes fully-insured loans of $5.1 billion . (3) Consumer real estate includes $2.5 billion and direct/indirect consumer includes $25 million of nonperforming loans. (4) Purchased credit-impaired (PCI) loan amounts are shown gross of the valuation allowance. (5) Total outstandings includes pay option loans of $1.9 billion . The Corporation no longer originates this product. (6) Total outstandings includes auto and specialty lending loans of $47.8 billion , unsecured consumer lending loans of $630 million , U.S. securities-based lending loans of $40.1 billion , non-U.S. consumer loans of $3.1 billion , student loans of $514 million and other consumer loans of $1.1 billion . (7) Total outstandings includes consumer finance loans of $489 million , consumer leases of $1.7 billion and consumer overdrafts of $151 million . (8) Consumer loans accounted for under the fair value option were residential mortgage loans of $1.4 billion and home equity loans of $340 million . Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.6 billion and non-U.S. commercial loans of $3.7 billion . For additional information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option . (9) Total outstandings includes U.S. commercial real estate loans of $53.9 billion and non-U.S. commercial real estate loans of $3.4 billion . (10) The Corporation pledged $146.1 billion of loans to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Banks. This amount is not included in the parenthetical disclosure of loans and leases pledged as collateral on the Consolidated Balance Sheet as there were no related outstanding borrowings. December 31, 2015 (Dollars in millions) 30-59 Days (1) 60-89 Days (1) 90 Days or Past Due (2) Total Past Due 30 Days or More Total Current or Less Than 30 Days Past Due (3) Purchased (4) Loans for Under the Fair Total Consumer real estate Core portfolio Residential mortgage $ 1,214 $ 368 $ 1,414 $ 2,996 $ 138,799 $ 141,795 Home equity 200 93 579 872 54,045 54,917 Non-core portfolio Residential mortgage (5) 2,045 1,167 8,439 11,651 22,399 $ 12,066 46,116 Home equity 335 174 1,170 1,679 14,733 4,619 21,031 Credit card and other consumer U.S. credit card 454 332 789 1,575 88,027 89,602 Non-U.S. credit card 39 31 76 146 9,829 9,975 Direct/Indirect consumer (6) 227 62 42 331 88,464 88,795 Other consumer (7) 18 3 4 25 2,042 2,067 Total consumer 4,532 2,230 12,513 19,275 418,338 16,685 454,298 Consumer loans accounted for under the fair value option (8) $ 1,871 1,871 Total consumer loans and leases 4,532 2,230 12,513 19,275 418,338 16,685 1,871 456,169 Commercial U.S. commercial 444 148 332 924 251,847 252,771 Commercial real estate (9) 36 11 82 129 57,070 57,199 Commercial lease financing 150 29 20 199 21,153 21,352 Non-U.S. commercial 6 1 1 8 91,541 91,549 U.S. small business commercial 83 41 72 196 12,680 12,876 Total commercial 719 230 507 1,456 434,291 435,747 Commercial loans accounted for under the fair value option (8) 5,067 5,067 Total commercial loans and leases 719 230 507 1,456 434,291 5,067 440,814 Total loans and leases (10) $ 5,251 $ 2,460 $ 13,020 $ 20,731 $ 852,629 $ 16,685 $ 6,938 $ 896,983 Percentage of outstandings 0.59 % 0.27 % 1.45 % 2.31 % 95.06 % 1.86 % 0.77 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $1.7 billion and nonperforming loans of $379 million . Consumer real estate loans 60-89 days past due includes fully-insured loans of $1.0 billion and nonperforming loans of $297 million . (2) Consumer real estate includes fully-insured loans of $7.2 billion . (3) Consumer real estate includes $3.0 billion and direct/indirect consumer includes $21 million of nonperforming loans. (4) PCI loan amounts are shown gross of the valuation allowance. (5) Total outstandings includes pay option loans of $2.3 billion . The Corporation no longer originates this product. (6) Total outstandings includes auto and specialty lending loans of $42.6 billion , unsecured consumer lending loans of $886 million , U.S. securities-based lending loans of $39.8 billion , non-U.S. consumer loans of $3.9 billion , student loans of $564 million and other consumer loans of $1.0 billion . (7) Total outstandings includes consumer finance loans of $564 million , consumer leases of $1.4 billion and consumer overdrafts of $146 million . (8) Consumer loans accounted for under the fair value option were residential mortgage loans of $1.6 billion and home equity loans of $250 million . 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 $2.8 billion . For additional information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option . (9) Total outstandings includes U.S. commercial real estate loans of $53.6 billion and non-U.S. commercial real estate loans of $3.5 billion . (10) The Corporation pledged $149.4 billion of loans to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Banks. This amount is not included in the parenthetical disclosure of loans and leases pledged as collateral on the Consolidated Balance Sheet as there were no related outstanding borrowings. The Corporation categorizes consumer real estate loans as core and non-core on the basis of loan and customer characteristics such as origination date, product type, LTV, FICO score and delinquency status consistent with its current consumer and mortgage servicing strategy. Generally, loans that were originated after January 1, 2010, qualified under government-sponsored enterprise underwriting guidelines, or otherwise met the Corporation's underwriting guidelines in place in 2015 are characterized as core loans. Loans held in legacy private-label securitizations, government-insured loans originated prior to 2010, loan products no longer originated, and loans originated prior to 2010 and classified as nonperforming or modified in a troubled debt restructuring (TDR) prior to 2016 are generally characterized as non-core loans, and are principally run-off portfolios. Core loans as reported within this Note include loans held in the Consumer Banking and Global Wealth & Investment Management ( GWIM) segments, as well as loans held for ALM activities in All Other . The Corporation has entered into long-term credit protection agreements with FNMA and FHLMC on loans totaling $6.0 billion and $3.7 billion at September 30, 2016 and December 31, 2015 , providing full credit 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. Nonperforming Loans and Leases 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, 2016 and December 31, 2015 , $432 million and $484 million of such junior-lien home equity loans were included in nonperforming loans. The Corporation classifies consumer real estate loans that have been discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower as 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, 2016 , nonperforming loans discharged in Chapter 7 bankruptcy with no change in repayment terms were $616 million of which $370 million were current on their contractual payments, while $212 million were 90 days or more past due. Of the contractually current nonperforming loans, approximately 81 percent were discharged in Chapter 7 bankruptcy more than 12 months ago, and approximately 68 percent were discharged 24 months or more ago. As subsequent cash payments are received on these nonperforming loans that are contractually current, 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. During the three and nine months ended September 30, 2016 , the Corporation sold nonperforming and other delinquent consumer real estate loans with a carrying value of $360 million and $1.8 billion , including $111 million and $435 million of PCI loans, compared to $742 million and $2.7 billion , including $220 million and $1.2 billion of PCI loans, for the same periods in 2015 . The Corporation recorded net recoveries of $6 million and net charge-offs of $39 million related to these sales for the three and nine months ended September 30, 2016 compared to net recoveries of $58 million and $125 million for the same periods in 2015 . Gains related to these sales of $19 million and $63 million were recorded in other income in the Consolidated Statement of Income for the three and nine months ended September 30, 2016 compared to gains of $67 million and $142 million for the same periods in 2015 . 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, 2016 and December 31, 2015 . Nonperforming 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 2015 Annual Report on Form 10-K . Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More (Dollars in millions) September 30 December 31 September 30 December 31 Consumer real estate Core portfolio Residential mortgage (1) $ 1,394 $ 1,825 $ 452 $ 382 Home equity 956 974 — — Non-core portfolio Residential mortgage (1) 1,947 2,978 4,665 6,768 Home equity 2,026 2,363 — — Credit card and other consumer U.S. credit card n/a n/a 702 789 Non-U.S. credit card n/a n/a 65 76 Direct/Indirect consumer 26 24 29 39 Other consumer 1 1 3 3 Total consumer 6,350 8,165 5,916 8,057 Commercial U.S. commercial 1,439 867 40 113 Commercial real estate 60 93 — 3 Commercial lease financing 35 12 28 15 Non-U.S. commercial 400 158 3 1 U.S. small business commercial 65 82 63 61 Total commercial 1,999 1,212 134 193 Total loans and leases $ 8,349 $ 9,377 $ 6,050 $ 8,250 (1) Residential mortgage loans in the core and non-core portfolios accruing past due 90 days or more are fully-insured loans. At September 30, 2016 and December 31, 2015 , residential mortgage includes $3.3 billion and $4.3 billion of loans on which interest has been curtailed by the Federal Housing Administration (FHA), and therefore are no longer accruing interest, although principal is still insured, and $1.8 billion and $2.9 billion of loans on which interest is still accruing. n/a = not applicable Credit Quality Indicators The Corporation monitors credit quality within its Consumer Real Estate, 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 2015 Annual Report on Form 10-K . Within the Consumer Real Estate 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 the property securing the loan, refreshed quarterly. Home equity loans are evaluated using combined loan-to-value (CLTV) which measures the carrying value of the Corporation's loan and available line of credit combined with any outstanding senior liens against the property as a percentage of the 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. FICO scores are typically refreshed quarterly or more frequently. Certain borrowers (e.g., borrowers that have had debts discharged in a bankruptcy proceeding) may not have their FICO scores updated. 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 quality 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 Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2016 and December 31, 2015 . Consumer Real Estate – Credit Quality Indicators (1) September 30, 2016 (Dollars in millions) Core Portfolio Residential Mortgage (2) Non-core Residential Mortgage (2) Residential (3) Core Portfolio Home Equity (2) Non-core Home Equity (2) Home Equity PCI Refreshed LTV (4) Less than or equal to 90 percent $ 122,783 $ 14,696 $ 7,972 $ 48,256 $ 8,363 $ 1,860 Greater than 90 percent but less than or equal to 100 percent 3,808 1,638 1,106 1,283 1,864 686 Greater than 100 percent 2,034 2,335 1,536 1,385 3,992 1,308 Fully-insured loans (5) 21,866 8,194 — — — — Total consumer real estate $ 150,491 $ 26,863 $ 10,614 $ 50,924 $ 14,219 $ 3,854 Refreshed FICO score Less than 620 $ 2,679 $ 3,442 $ 2,948 $ 1,279 $ 2,875 $ 587 Greater than or equal to 620 and less than 680 5,250 2,956 2,337 2,933 3,280 683 Greater than or equal to 680 and less than 740 22,095 4,789 3,015 10,537 3,265 1,133 Greater than or equal to 740 98,601 7,482 2,314 36,175 4,799 1,451 Fully-insured loans (5) 21,866 8,194 — — — — Total consumer real estate $ 150,491 $ 26,863 $ 10,614 $ 50,924 $ 14,219 $ 3,854 (1) Excludes $1.8 billion of loans accounted for under the fair value option. (2) Excludes PCI loans. (3) Includes $1.7 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, 2016 (Dollars in millions) U.S. Credit Non-U.S. Direct/Indirect Other (1) Refreshed FICO score Less than 620 $ 4,136 $ — $ 1,297 $ 193 Greater than or equal to 620 and less than 680 11,887 — 1,887 219 Greater than or equal to 680 and less than 740 34,065 — 12,132 395 Greater than or equal to 740 38,701 — 33,139 1,428 Other internal credit metrics (2, 3, 4) — 9,258 44,839 154 Total credit card and other consumer $ 88,789 $ 9,258 $ 93,294 $ 2,389 (1) At September 30, 2016 , 20 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 $43.3 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $516 million of loans the Corporation no longer originates, primarily student loans. (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, 2016 , 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, 2016 (Dollars in millions) U.S. Commercial Real Estate Commercial Non-U.S. U.S. Small (2) Risk ratings Pass rated $ 257,169 $ 57,003 $ 20,531 $ 83,765 $ 464 Reservable criticized 9,850 300 778 3,732 74 Refreshed FICO score (3) Less than 620 195 Greater than or equal to 620 and less than 680 578 Greater than or equal to 680 and less than 740 1,743 Greater than or equal to 740 3,349 Other internal credit metrics (3, 4) 6,674 Total commercial $ 267,019 $ 57,303 $ 21,309 $ 87,497 $ 13,077 (1) Excludes $6.3 billion of loans accounted for under the fair value option. (2) U.S. small business commercial includes $731 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, 2016 , 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. Consumer Real Estate – Credit Quality Indicators (1) December 31, 2015 (Dollars in millions) Core Portfolio (2) Non-core (2) Residential (3) Core Portfolio Home Equity (2) Non-core Home (2) Home Equity PCI Refreshed LTV (4) Less than or equal to 90 percent $ 110,023 $ 16,481 $ 8,655 $ 51,262 $ 8,347 $ 2,003 Greater than 90 percent but less than or equal to 100 percent 4,038 2,224 1,403 1,858 2,190 852 Greater than 100 percent 2,638 3,364 2,008 1,797 5,875 1,764 Fully-insured loans (5) 25,096 11,981 — — — — Total consumer real estate $ 141,795 $ 34,050 $ 12,066 $ 54,917 $ 16,412 $ 4,619 Refreshed FICO score Less than 620 $ 3,129 $ 4,749 $ 3,798 $ 1,322 $ 3,490 $ 729 Greater than or equal to 620 and less than 680 5,472 3,762 2,586 3,295 3,862 825 Greater than or equal to 680 and less than 740 22,486 5,138 3,187 12,180 3,451 1,356 Greater than or equal to 740 85,612 8,420 2,495 38,120 5,609 1,709 Fully-insured loans (5) 25,096 11,981 — — — — Total consumer real estate $ 141,795 $ 34,050 $ 12,066 $ 54,917 $ 16,412 $ 4,619 (1) Excludes $1.9 billion of loans accounted for under the fair value option. (2) Excludes PCI loans. (3) Includes $2.0 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, 2015 (Dollars in millions) U.S. Credit Non-U.S. Direct/Indirect Other (1) Refreshed FICO score Less than 620 $ 4,196 $ — $ 1,244 $ 217 Greater than or equal to 620 and less than 680 11,857 — 1,698 214 Greater than or equal to 680 and less than 740 34,270 — 10,955 337 Greater than or equal to 740 39,279 — 29,581 1,149 Other internal credit metrics (2, 3, 4) — 9,975 45,317 150 Total credit card and other consumer $ 89,602 $ 9,975 $ 88,795 $ 2,067 (1) At December 31, 2015 , 27 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 $43.7 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $567 million of loans the Corporation no longer originates, primarily student loans. (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, 2015 , 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) December 31, 2015 (Dollars in millions) U.S. Commercial Real Estate Commercial Non-U.S. U.S. Small (2) Risk ratings Pass rated $ 243,922 $ 56,688 $ 20,644 $ 87,905 $ 571 Reservable criticized 8,849 511 708 3,644 96 Refreshed FICO score (3) Less than 620 184 Greater than or equal to 620 and less than 680 543 Greater than or equal to 680 and less than 740 1,627 Greater than or equal to 740 3,027 Other internal credit metrics (3, 4) 6,828 Total commercial $ 252,771 $ 57,199 $ 21,352 $ 91,549 $ 12,876 (1) Excludes $5.1 billion of loans accounted for under the fair value option. (2) U.S. small business commercial includes $670 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, 2015 , 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. 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. PCI loans are excluded and reported separately on page 137 . For additional information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Consumer Real Estate Impaired consumer real estate loans within the Consumer Real Estate portfolio segment consist entirely of TDRs. Excluding PCI loans, most modifications of consumer real estate loans meet the definition of TDRs when a binding offer is extended to a borrower. Modifications of consumer real estate 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. Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers under both government and proprietary programs. 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. Consumer real estate loans that have been discharged in Chapter 7 bankruptcy with no change in repayment terms and not reaffirmed by the borrower of $1.5 billion were included in TDRs at September 30, 2016 , of which $616 million were classified as nonperforming and $603 million were loans fully-insured by the FHA. For more information on loans discharged in Chapter 7 bankruptcy, see Nonperforming Loans and Leases in this Note. A consumer real estate 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. Consumer real estate 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, consumer real estate TDRs that are considered to be dependent solely on the collateral for repayment (e.g., due to the lack of income verification) 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. Consumer real estate loans that reached 180 days past due prior to modification had been charged off to their net realizable value, less costs to sell, before they were modified as TDRs in accordance with established policy. Therefore, modifications of consumer real estate 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 used to measure impairment 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, 2016 and December 31, 2015 , remaining commitments to lend additional funds to debtors whose terms have been modified in a consumer real estate TDR were immaterial. Consumer real estate foreclosed properties totaled $372 million and $444 million at September 30, 2016 and December 31, 2015 . The carrying value of consumer real estate loans, including fully-insured and PCI loans, for which formal foreclosure proceedings were in process as of September 30, 2016 was $4.9 billion . During the three and nine months ended September 30, 2016 , the Corporation reclassified $326 million and $1.1 billion of consumer real estate loans to foreclosed properties or, for properties acquired upon foreclosure of certain government-guaranteed loans (principally FHA-insured loans), to other assets. This compared to reclassifications of $499 million and $1.6 billion for the same periods in 2015 . The reclassifications represent non-cash investing activities and, accordingly, are not reflected on the Consolidated Statement of Cash Flows. The table below provides the unpaid principal balance, carrying value and related allowance at September 30, 2016 and December 31, 2015 , and the average carrying value and interest income recognized for the three and nine months ended September 30, 2016 and 2015 for impaired loans in the Corporation's Consumer Real Estate portfolio segment. Certain impaired consumer real estate loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value, which is net of previously recorded charge-offs. Impaired Loans – Consumer Real Estate September 30, 2016 December 31, 2015 (Dollars in millions) Unpaid Carrying Related Unpaid Carrying Related With no recorded allowance Residential mortgage $ 11,948 $ 9,369 $ — $ 14,888 $ 11,901 $ — Home equity 3,734 1,959 — 3,545 1,775 — With an allowance recorded Residential mortgage $ 4,452 $ 4,335 $ 242 $ 6,624 $ 6,471 $ 399 Home equity 940 844 142 1,047 911 235 Total Residential mortgage $ 16,400 $ 13,704 $ 242 $ 21,512 $ 18,372 $ 399 Home equity 4,674 2,803 142 4,592 2,686 235 Three Months Ended September 30 Nine Months Ended September 30 2016 2015 2016 2015 Average Interest (1) Average Interest (1) Average Interest (1) Average Interest (1) With no recorded allowance Residential mortgage $ 9,673 $ 83 $ 13,202 $ 97 $ 10,523 $ 277 $ 14,332 $ 310 Home equity 1,964 37 1,835 23 1,883 67 1,777 68 With an allowance recorded Residential mortgage $ 4,676 $ 36 $ 7,398 $ 61 $ 5,371 $ 133 $ 7,563 $ 186 Home equity 822 7 809 6 863 18 756 18 Total Residential mortgage $ 14,349 $ 119 $ 20,600 $ 158 $ 15,894 $ 410 $ 21,895 $ 496 Home equity 2,786 44 2,644 29 2,746 85 2,533 86 (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. The table below presents |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Allowance for Credit Losses | NOTE 5 – 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, 2016 and 2015 . Three Months Ended September 30, 2016 (Dollars in millions) Consumer Real Estate Credit Card Commercial Total Allowance Allowance for loan and lease losses, July 1 $ 3,209 $ 3,334 $ 5,294 $ 11,837 Loans and leases charged off (246 ) (868 ) (163 ) (1,277 ) Recoveries of loans and leases previously charged off 145 191 53 389 Net charge-offs (101 ) (677 ) (110 ) (888 ) Write-offs of PCI loans (83 ) — — (83 ) Provision for loan and lease losses (36 ) 741 129 834 Other (1) — (8 ) — (8 ) Allowance for loan and lease losses, September 30 2,989 3,390 5,313 11,692 Reserve for unfunded lending commitments, July 1 — — 750 750 Provision for unfunded lending commitments — — 16 16 Other (1) — — 1 1 Reserve for unfunded lending commitments, September 30 — — 767 767 Allowance for credit losses, September 30 $ 2,989 $ 3,390 $ 6,080 $ 12,459 Three Months Ended September 30, 2015 Allowance for loan and lease losses, July 1 $ 4,741 $ 3,702 $ 4,625 $ 13,068 Loans and leases charged off (345 ) (873 ) (157 ) (1,375 ) Recoveries of loans and leases previously charged off 199 198 46 443 Net charge-offs (146 ) (675 ) (111 ) (932 ) Write-offs of PCI loans (148 ) — — (148 ) Provision for loan and lease losses (12 ) 554 191 733 Other (1) (35 ) (29 ) — (64 ) Allowance for loan and lease losses, September 30 4,400 3,552 4,705 12,657 Reserve for unfunded lending commitments, July 1 — — 588 588 Provision for unfunded lending commitments — — 73 73 Reserve for unfunded lending commitments, September 30 — — 661 661 Allowance for credit losses, September 30 $ 4,400 $ 3,552 $ 5,366 $ 13,318 Nine Months Ended September 30, 2016 Allowance for loan and lease losses, January 1 $ 3,914 $ 3,471 $ 4,849 $ 12,234 Loans and leases charged off (928 ) (2,664 ) (559 ) (4,151 ) Recoveries of loans and leases previously charged off 464 584 162 1,210 Net charge-offs (464 ) (2,080 ) (397 ) (2,941 ) Write-offs of PCI loans (270 ) — — (270 ) Provision for loan and lease losses (191 ) 2,031 962 2,802 Other (1) — (32 ) (101 ) (133 ) Allowance for loan and lease losses, September 30 2,989 3,390 5,313 11,692 Reserve for unfunded lending commitments, January 1 — — 646 646 Provision for unfunded lending commitments — — 21 21 Other (1) — — 100 100 Reserve for unfunded lending commitments, September 30 — — 767 767 Allowance for credit losses, September 30 $ 2,989 $ 3,390 $ 6,080 $ 12,459 Nine Months Ended September 30, 2015 Allowance for loan and lease losses, January 1 $ 5,935 $ 4,047 $ 4,437 $ 14,419 Loans and leases charged off (1,430 ) (2,733 ) (410 ) (4,573 ) Recoveries of loans and leases previously charged off 587 618 174 1,379 Net charge-offs (843 ) (2,115 ) (236 ) (3,194 ) Write-offs of PCI loans (726 ) — — (726 ) Provision for loan and lease losses 68 1,646 504 2,218 Other (1) (34 ) (26 ) — (60 ) Allowance for loan and lease losses, September 30 4,400 3,552 4,705 12,657 Reserve for unfunded lending commitments, January 1 — — 528 528 Provision for unfunded lending commitments — — 133 133 Reserve for unfunded lending commitments, September 30 — — 661 661 Allowance for credit losses, September 30 $ 4,400 $ 3,552 $ 5,366 $ 13,318 (1) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications. During the three and nine months ended September 30, 2016 , for the PCI loan portfolio, the Corporation recorded provision expense of $8 million and a benefit of $81 million compared to a benefit of $68 million and $40 million for the same periods in 2015 . Write-offs in the PCI loan portfolio totaled $83 million and $270 million during the three and nine months ended September 30, 2016 compared to $148 million and $726 million for the same periods in 2015 . Write-offs included $11 million and $50 million associated with the sale of PCI loans during the three and nine months ended September 30, 2016 compared to $38 million and $213 million for the same periods in 2015 . The valuation allowance associated with the PCI loan portfolio was $453 million and $804 million at September 30, 2016 and December 31, 2015 . The table below presents the allowance and the carrying value of outstanding loans and leases by portfolio segment at September 30, 2016 and December 31, 2015 . Allowance and Carrying Value by Portfolio Segment September 30, 2016 (Dollars in millions) Consumer Real Estate Credit Card Commercial Total Impaired loans and troubled debt restructurings (1) Allowance for loan and lease losses (2) $ 384 $ 186 $ 258 $ 828 Carrying value (3) 16,507 637 3,490 20,634 Allowance as a percentage of carrying value 2.33 % 29.20 % 7.39 % 4.01 % Loans collectively evaluated for impairment Allowance for loan and lease losses $ 2,152 $ 3,204 $ 5,055 $ 10,411 Carrying value (3, 4) 225,990 193,093 442,715 861,798 Allowance as a percentage of carrying value (4) 0.95 % 1.66 % 1.14 % 1.21 % Purchased credit-impaired loans Valuation allowance $ 453 n/a n/a $ 453 Carrying value gross of valuation allowance 14,468 n/a n/a 14,468 Valuation allowance as a percentage of carrying value 3.13 % n/a n/a 3.13 % Total Allowance for loan and lease losses $ 2,989 $ 3,390 $ 5,313 $ 11,692 Carrying value (3, 4) 256,965 193,730 446,205 896,900 Allowance as a percentage of carrying value (4) 1.16 % 1.75 % 1.19 % 1.30 % December 31, 2015 Impaired loans and troubled debt restructurings (1) Allowance for loan and lease losses (2) $ 634 $ 250 $ 217 $ 1,101 Carrying value (3) 21,058 779 2,368 24,205 Allowance as a percentage of carrying value 3.01 % 32.09 % 9.16 % 4.55 % Loans collectively evaluated for impairment Allowance for loan and lease losses $ 2,476 $ 3,221 $ 4,632 $ 10,329 Carrying value (3, 4) 226,116 189,660 433,379 849,155 Allowance as a percentage of carrying value (4) 1.10 % 1.70 % 1.07 % 1.22 % Purchased credit-impaired loans Valuation allowance $ 804 n/a n/a $ 804 Carrying value gross of valuation allowance 16,685 n/a n/a 16,685 Valuation allowance as a percentage of carrying value 4.82 % n/a n/a 4.82 % Total Allowance for loan and lease losses $ 3,914 $ 3,471 $ 4,849 $ 12,234 Carrying value (3, 4) 263,859 190,439 435,747 890,045 Allowance as a percentage of carrying value (4) 1.48 % 1.82 % 1.11 % 1.37 % (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 $30 million and $35 million related to impaired U.S. small business commercial at September 30, 2016 and December 31, 2015 . (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 $8.1 billion and $6.9 billion at September 30, 2016 and December 31, 2015 . n/a = not applicable |
Securitizations and Other Varia
Securitizations and Other Variable Interest Entities | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Securitizations and Other Variable Interest Entities | NOTE 6 – 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 6 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . The tables in this Note present the assets and liabilities of consolidated and unconsolidated VIEs at September 30, 2016 and December 31, 2015 , 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, 2016 and December 31, 2015 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. As a result of new accounting guidance issued by the FASB, which was effective on January 1, 2016, the Corporation identified certain limited partnerships and similar entities that are now considered to be VIEs and are included in the unconsolidated VIE tables in this Note at September 30, 2016 . The Corporation had a maximum loss exposure of $4.9 billion related to these VIEs, which had total assets of $13.4 billion . The Corporation invests in asset-backed securities (ABS) issued by third-party VIEs with which it has no other form of involvement and enters into certain commercial lending arrangements that may also incorporate the use of VIEs to hold collateral. These securities and loans are included in Note 3 – Securities or Note 4 – Outstanding Loans and Leases . In addition, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities. For additional information, see Note 11 – Long-term Debt to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . The Corporation uses VIEs, such as common trust funds managed within GWIM , to provide investment opportunities for clients. These VIEs, which are generally not consolidated by the Corporation, as applicable, are not included in the tables in this Note. Except as described below and in Note 6 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K , the Corporation did not provide financial support to consolidated or unconsolidated VIEs during the nine months ended September 30, 2016 or the year ended December 31, 2015 that it was not previously contractually required to provide, nor does it intend to do so. First-lien Mortgage 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 RMBS guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or Government National Mortgage Association (GNMA) primarily 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 origination or purchase and the Corporation may also securitize loans held in its residential mortgage portfolio. 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 7 – 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, 2016 and 2015 . First-lien Mortgage Securitizations Three Months Ended September 30 Residential Mortgage Agency Commercial Mortgage (Dollars in millions) 2016 2015 2016 2015 Cash proceeds from new securitizations (1) $ 7,131 $ 7,632 $ 1,052 $ 807 Gain on securitizations (2) 89 118 27 14 Nine Months Ended September 30 2016 2015 2016 2015 Cash proceeds from new securitizations (1) $ 18,580 $ 22,304 $ 3,031 $ 5,695 Gain on securitizations (2) 322 475 18 46 (1) The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds. (2) A majority of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. Gains recognized on these LHFS prior to securitization, which totaled $149 million and $349 million , net of hedges, during the three and nine months ended September 30, 2016 compared to $192 million and $623 million for the same periods in 2015 , are not included in the table above. In addition to cash proceeds as reported in the table above, the Corporation received securities with an initial fair value of $1.2 billion and $3.1 billion in connection with first-lien mortgage securitizations for the three and nine months ended September 30, 2016 compared to $7.0 billion and $20.0 billion for the same periods in 2015 . The receipt of these securities represents non-cash operating and investing activities and, accordingly, is not reflected on the Consolidated Statement of Cash Flows. 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, 2016 and 2015 , 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 $280 million and $868 million during the three and nine months ended September 30, 2016 compared to $307 million and $1.0 billion for the same periods in 2015 . Servicing advances on consumer mortgage loans, including securitizations where the Corporation has continuing involvement, were $6.6 billion and $7.8 billion at September 30, 2016 and December 31, 2015 . 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, 2016 , $684 million and $2.1 billion of loans were repurchased from first-lien securitization trusts primarily as a result of loan delinquencies or to perform modifications compared to $511 million and $2.4 billion for the same periods in 2015 . The majority of these loans repurchased were FHA-insured mortgages collateralizing GNMA securities. For more information on MSRs, see Note 17 – Mortgage Servicing Rights . During the three and nine months ended September 30, 2016 , the Corporation deconsolidated agency residential mortgage securitization vehicles with total assets of $326 million and $3.1 billion following the sale of retained interests to third parties, after which the Corporation no longer had the unilateral ability to liquidate the vehicles. Gains on sale of $11 million and $125 million were recorded in other income in the Consolidated Statement of Income. The table below summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at September 30, 2016 and December 31, 2015 . 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 Unconsolidated VIEs Maximum loss exposure (1) $ 24,492 $ 28,192 $ 778 $ 1,027 $ 2,626 $ 2,905 $ 539 $ 622 $ 332 $ 326 On-balance sheet assets Senior securities held (2) : Trading account assets $ 1,345 $ 1,297 $ 14 $ 42 $ 54 $ 94 $ 84 $ 99 $ 29 $ 59 Debt securities carried at fair value 19,322 24,369 478 613 2,274 2,479 315 340 — — Held-to-maturity securities 3,812 2,511 — — — — — — 55 37 Subordinate securities held (2) : Trading account assets — — 1 1 29 37 1 2 16 22 Debt securities carried at fair value — — 9 12 2 3 25 28 54 54 Held-to-maturity securities — — — — — — — — 13 13 Residual interests held — — — — — — — — 32 48 All other assets (3) 13 15 29 40 — — 114 153 — — Total retained positions $ 24,492 $ 28,192 $ 531 $ 708 $ 2,359 $ 2,613 $ 539 $ 622 $ 199 $ 233 Principal balance outstanding (4) $ 284,246 $ 313,613 $ 13,767 $ 16,087 $ 24,396 $ 27,854 $ 35,969 $ 40,848 $ 21,032 $ 34,243 Consolidated VIEs Maximum loss exposure (1) $ 19,384 $ 26,878 $ 52 $ 65 $ 153 $ 232 $ — $ — $ — $ — On-balance sheet assets Trading account assets $ 383 $ 1,101 $ — $ — $ — $ 188 $ — $ — $ — $ — Loans and leases (5) 18,562 25,328 83 111 572 675 — — — — All other assets 441 449 3 — 70 54 — — — — Total assets $ 19,386 $ 26,878 $ 86 $ 111 $ 642 $ 917 $ — $ — $ — $ — On-balance sheet liabilities Long-term debt $ 2 $ — $ 34 $ 46 $ 613 $ 840 $ — $ — $ — $ — All other liabilities 3 1 — — — — — — — — Total liabilities $ 5 $ 1 $ 34 $ 46 $ 613 $ 840 $ — $ — $ — $ — (1) Maximum loss exposure includes obligations under loss-sharing reinsurance and other arrangements for non-agency residential mortgage and commercial mortgage securitizations, but excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and other servicing rights and obligations. For additional information, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees and Note 17 – 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, 2016 and 2015 , 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 $326 million and $222 million , 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 $326 million and $222 million , representing the principal amount that would be payable to the securitization vehicles if the Corporation was to exercise the repurchase option, at September 30, 2016 and December 31, 2015 . (4) Principal balance outstanding includes loans the Corporation transferred with which it has continuing involvement, which may include servicing the loans. (5) Balance at September 30, 2016 includes $655 million from consolidated collateralized financing entities (CFE) that were measured using the fair value of the financial liabilities of those entities as the measurement basis. Other Asset-backed Securitizations The table below summarizes select information related to home equity loan, credit card and other asset-backed VIEs in which the Corporation held a variable interest at September 30, 2016 and December 31, 2015 . Home Equity Loan, Credit Card and Other Asset-backed VIEs Home Equity Loan (1) Credit Card (2, 3) 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 September 30 December 31 September 30 December 31 Unconsolidated VIEs Maximum loss exposure $ 3,338 $ 3,988 $ — $ — $ 10,200 $ 13,046 $ 1,760 $ 1,572 $ 49 $ 63 On-balance sheet assets Senior securities held (4, 5) : Trading account assets $ — $ — $ — $ — $ 670 $ 1,248 $ 26 $ 2 $ — $ — Debt securities carried at fair value 48 57 — — 2,585 4,341 — — 49 53 Held-to-maturity securities — — — — 6,820 7,370 — — — — Subordinate securities held (4, 5) : Trading account assets — — — — 55 17 — — — — Debt securities carried at fair value — — — — 71 70 — — — — All other assets — — — — — — — — — 10 Total retained positions $ 48 $ 57 $ — $ — $ 10,201 $ 13,046 $ 26 $ 2 $ 49 $ 63 Total assets of VIEs (6) $ 4,999 $ 5,883 $ — $ — $ 24,489 $ 35,362 $ 2,626 $ 2,518 $ 179 $ 314 Consolidated VIEs Maximum loss exposure $ 163 $ 231 $ 25,101 $ 32,678 $ 180 $ 354 $ 1,770 $ 1,973 $ — $ — On-balance sheet assets Trading account assets $ — $ — $ — $ — $ 456 $ 771 $ 1,797 $ 1,984 $ — $ — Loans and leases 263 321 34,872 43,194 — — — — — — Allowance for loan and lease losses (16 ) (18 ) (1,060 ) (1,293 ) — — — — — — All other assets 6 20 283 342 — — — 1 — — Total assets $ 253 $ 323 $ 34,095 $ 42,243 $ 456 $ 771 $ 1,797 $ 1,985 $ — $ — On-balance sheet liabilities Short-term borrowings $ — $ — $ — $ — $ — $ — $ 546 $ 681 $ — $ — Long-term debt 123 183 8,977 9,550 276 417 12 12 — — All other liabilities — — 17 15 — — 15 — — — Total liabilities $ 123 $ 183 $ 8,994 $ 9,565 $ 276 $ 417 $ 573 $ 693 $ — $ — (1) For unconsolidated home equity loan VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves. For both consolidated and unconsolidated home equity loan VIEs, the maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees. For additional information, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees . (2) At September 30, 2016 and December 31, 2015 , loans and leases in the consolidated credit card trust included $17.3 billion and $24.7 billion of seller's interest. (3) At September 30, 2016 and December 31, 2015 , all other assets in the consolidated credit card trust included restricted cash, certain short-term investments, and unbilled accrued interest and fees. (4) As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2016 and 2015 , there were no OTTI losses recorded on those securities classified as AFS or HTM debt securities. (5) The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). (6) Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan. 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 typically services the loans in the trusts. Except as described below and in Note 7 – 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, 2016 and 2015 , and all of the home equity trusts that hold revolving home equity lines of credit have entered the rapid amortization phase. The maximum loss exposure in the table above includes the Corporation's obligation to provide subordinate funding to the consolidated and unconsolidated home equity loan securitizations that have entered the rapid amortization phase. 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. At September 30, 2016 and December 31, 2015 , home equity loan securitizations in rapid amortization for which the Corporation has a subordinate funding obligation, including both consolidated and unconsolidated trusts, had $3.3 billion and $4.0 billion of trust certificates outstanding. 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, performance of the loans, the amount of subsequent draws and the timing of related cash flows. Amounts actually funded by the Corporation totaled $1 million and $6 million for the nine months ended September 30, 2016 and 2015 . Credit Card Securitizations The Corporation securitizes originated and purchased credit card loans. The Corporation's continuing involvement with the securitization trust includes servicing the receivables, retaining an undivided interest (seller's interest) in the receivables, and holding certain retained interests including senior and subordinate securities, subordinate interests in accrued interest and fees on the securitized receivables, and cash reserve accounts. The seller's interest in the trust, which is pari passu to the investors' interest, is classified in loans and leases. For the nine months ended September 30, 2016 and 2015 , $750 million and $2.3 billion of new senior debt securities were issued to third-party investors from the credit card securitization trust. There were no new senior debt securities issued to third-party investors for the three months ended September 30, 2016 and 2015 . The Corporation held subordinate securities issued by the credit card securitization trust with a notional principal amount of $7.5 billion at both September 30, 2016 and December 31, 2015 . These securities serve as a form of credit enhancement to the senior debt securities and have a stated interest rate of zero percent . There were $121 million and $371 million of these subordinate securities issued for the nine months ended September 30, 2016 and 2015 compared to none for the three months ended September 30, 2016 and 2015 . 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 $5.6 billion and $20.3 billion of securities during the three and nine months ended September 30, 2016 compared to $9.1 billion and $22.1 billion for the same periods in 2015 . There were no resecuritizations of AFS debt securities during the three and nine months ended September 30, 2016 and 2015 . Other securities transferred into resecuritization vehicles during the three and nine months ended September 30, 2016 and 2015 were measured at fair value with changes in fair value recorded in trading account profits or other income prior to the resecuritization and no gain or loss on sale was recorded. Resecuritization proceeds included securities with an initial fair value of $430 million and $2.6 billion during the three and nine months ended September 30, 2016 compared to $3.5 billion and $5.2 billion for the same periods in 2015 . All of these securities were classified as Level 2 within the fair value hierarchy. 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 short-term 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 $1.7 billion and $1.6 billion at September 30, 2016 and December 31, 2015 . The weighted-average remaining life of bonds held in the trusts at September 30, 2016 was 6.2 years. There were no material write-downs or downgrades of assets or issuers during the nine months ended September 30, 2016 and 2015 . 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, 2016 and December 31, 2015 , the Corporation serviced assets or otherwise had continuing involvement with automobile and other securitization trusts with outstanding balances of $179 million and $314 million , including trusts collateralized by other loans of $179 million and $189 million , and automobile loans of $0 and $125 million . Other Variable Interest Entities The table below summarizes select information related to other VIEs in which the Corporation held a variable interest at September 30, 2016 and December 31, 2015 . Other VIEs September 30, 2016 December 31, 2015 (Dollars in millions) Consolidated Unconsolidated Total Consolidated Unconsolidated Total Maximum loss exposure $ 6,904 $ 17,058 $ 23,962 $ 6,295 $ 12,916 $ 19,211 On-balance sheet assets Trading account assets $ 3,063 $ 438 $ 3,501 $ 2,300 $ 366 $ 2,666 Debt securities carried at fair value — 84 84 — 126 126 Loans and leases 3,474 3,522 6,996 3,317 3,389 6,706 Allowance for loan and lease losses (9 ) (29 ) (38 ) (9 ) (23 ) (32 ) Loans held-for-sale 209 921 1,130 284 1,025 1,309 All other assets 664 11,250 11,914 664 6,925 7,589 Total $ 7,401 $ 16,186 $ 23,587 $ 6,556 $ 11,808 $ 18,364 On-balance sheet liabilities Long-term debt (1) $ 1,172 $ — $ 1,172 $ 3,025 $ — $ 3,025 All other liabilities 3 2,746 2,749 5 2,697 2,702 Total $ 1,175 $ 2,746 $ 3,921 $ 3,030 $ 2,697 $ 5,727 Total assets of VIEs $ 7,401 $ 62,353 $ 69,754 $ 6,556 $ 49,190 $ 55,746 (1) Includes $678 million and $2.8 billion of long-term debt at September 30, 2016 and December 31, 2015 issued by other consolidated VIEs, which has recourse to the general credit of the Corporation. 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, index, commodity 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's maximum loss exposure to consolidated and unconsolidated customer vehicles totaled $3.7 billion and $3.9 billion at September 30, 2016 and December 31, 2015 , including the notional amount of 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. The Corporation also had liquidity commitments, including written put options and collateral value guarantees, with certain unconsolidated vehicles of $646 million and $691 million at September 30, 2016 and December 31, 2015 , that are included in the table above. Collateralized Debt Obligation Vehicles The Corporation receives fees for structuring CDO vehicles, which hold diversified pools of fixed-income securities, typically corporate debt or ABS, which the CDO vehicles 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. 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's maximum loss exposure to consolidated and unconsolidated CDOs totaled $819 million and $543 million at September 30, 2016 and December 31, 2015 . This exposure is calculated on a gross basis and does not reflect any benefit from insurance purchased from third parties. At September 30, 2016 , the Corporation had $175 million of aggregate liquidity exposure, included in the Other VIEs table net of previously recorded losses, to unconsolidated CDOs which hold senior CDO debt securities or other debt securities on the Corporation's behalf. 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, 2016 and December 31, 2015 , the Corporation's consolidated investment vehicles had total assets of $970 million and $397 million . The Corporation also held investments in unconsolidated vehicles with total assets of $19.0 billion and $14.7 billion at September 30, 2016 and December 31, 2015 . The Corporation's maximum loss exposure associated with both consolidated and unconsolidated investment vehicles totaled $5.8 billion and $5.1 billion at September 30, 2016 and December 31, 2015 comprised primarily of on-balance sheet assets less non-recourse liabilities. In prior periods, the Corporation transferred servicing advance receivables to independent third parties in connection with the sale of MSRs. Portions of the receivables were transferred into unconsolidated securitization trusts. The Corporation retained senior interests in such receivables with a maximum loss exposure and funding obligation of $150 million and $150 million , including a funded balance of $84 million and $122 million at September 30, 2016 and December 31, 2015 , which were classified in other debt securities carried at fair value. Leveraged Lease Trusts The Corporation's net investment in consolidated leveraged lease trusts totaled $2.7 billion and $2.8 billion at September 30, 2016 and December 31, 2015 . 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. Tax Credit Vehicles The Corporation holds investments in unconsolidated limited partnerships and similar entities that construct, own and operate affordable housing, wind and solar projects. An unrelated third party is typically the general partner or managing member and has control over the significant activities of the vehicle. The Corporation earns a return primarily through the receipt of tax credits allocated to the projects. The maximum loss exposure included in the Other VIEs table was $10.8 billion at September 30, 2016 which includes the impact of the adoption of the new accounting guidance on determining whether limited partnerships and similar entities are VIEs. The maximum loss exposure included in this table was $6.5 billion at December 31, 2015 and primarily relates to affordable housing. The Corporation's risk of loss is generally mitigated by policies requiring that the project qualify for the expected tax credits prior to making its investment. The Corporation's investments in affordable housing partnerships, which are reported in other assets on the Consolidated Balance Sheet, totaled $6.8 billion and $7.1 billion , including unfunded commitments to provide capital contributions of $2.2 billion and $2.4 billion at September 30, 2016 and December 31, 2015 . The unfunded commitments are expected to be paid over the next five years . The Corporation recognized tax credits and other tax benefits from investments in affordable housing partnerships of $337 million and $819 million , and reported pretax losses in other noninterest income of $200 million and $596 million for the three and nine months ended September 30, 2016 . For the same periods in 2015 , the Corporation recognized tax credits and other benefits of $239 million and $727 million , and pretax losses of $153 million and $508 million . Tax credits are recognized as part of the Corporation's annual effective tax rate used to determine tax expense in a given quarter. Accordingly, the portion of a year's expected tax benefits recognized in any given quarter may differ from 25 percent . The Corporation may from time to time be asked to invest additional amounts to support a troubled affordable housing project. Such additional investments have not been and are not expected to be significant. |
Representations and Warranties
Representations and Warranties Obligations and Corporate Guarantees | 9 Months Ended |
Sep. 30, 2016 | |
Representations and Warranties Obligations and Corporate Guarantees [Abstract] | |
Representations and Warranties Obligations and Corporate Guarantees | NOTE 7 – Representations and Warranties Obligations and Corporate Guarantees Background The Corporation securitizes first-lien residential mortgage loans generally in the form of RMBS guaranteed by the GSEs or by GNMA in the case of FHA-insured, VA-guaranteed and Rural Housing Service-guaranteed mortgage loans, and sells pools of first-lien residential mortgage loans in the form of whole 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 or in the form of whole loans. In connection with these transactions, the Corporation or certain of its subsidiaries or legacy companies 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 have resulted in and may continue to result in the requirement to repurchase mortgage loans or to otherwise make whole or provide other remedies to investors, guarantors, insurers or other parties (collectively, repurchases). The liability for representations and warranties exposures and the corresponding estimated range of possible loss are 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 and Estimated Range of Possible Loss in this Note, that are subject to change. Changes to any one of these factors could significantly impact the liability for representations and warranties exposures and the corresponding estimated range of possible loss and could have a material adverse impact on the Corporation's results of operations for any particular period. Settlement Actions The Corporation has vigorously contested any request for repurchase where it has concluded that a valid basis for repurchase does not exist and will continue to do so in the future. However, in an effort to resolve legacy mortgage-related issues, the Corporation has reached bulk settlements, certain of which have been for significant amounts, in lieu of a loan-by-loan review process, including settlements with the GSEs, four monoline insurers and Bank of New York Mellon (BNY Mellon), as trustee for certain securitization trusts. These bulk settlements generally did not cover all transactions with the relevant counterparties or all potential claims that may arise, including in some instances securities law, fraud, indemnification and servicing claims, which may be addressed separately. The Corporation's liability in connection with the transactions and claims not covered by these settlements could be material to the Corporation's results of operations or liquidity for any particular reporting period. 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. 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, mortgage insurance (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, the Corporation determines that the applicable statute of limitations has expired, or representations and warranties claims with respect to the applicable trust are settled, and fully and finally released . The Corporation does not include duplicate claims in the amounts disclosed. The table below presents unresolved repurchase claims at September 30, 2016 and December 31, 2015 . The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has the contractual right to submit claims. The unresolved repurchase claims predominantly relate to subprime and pay option first-lien loans, and home equity loans. For additional information, see Private-label Securitizations and Whole-loan Sales Experience in this Note and Note 12 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Unresolved Repurchase Claims by Counterparty, net of duplicate claims (Dollars in millions) September 30 December 31 By counterparty Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other (1) $ 16,713 $ 16,748 Monolines 1,590 1,599 GSEs 9 17 Total unresolved repurchase claims by counterparty, net of duplicate claims $ 18,312 $ 18,364 (1) Includes $11.9 billion of claims based on individual file reviews and $4.8 billion of claims submitted without individual file reviews at both September 30, 2016 and December 31, 2015 . During the three and nine months ended September 30, 2016 , the Corporation received $20 million and $614 million in new repurchase claims, including zero and $440 million that are deemed time-barred. During the three and nine months ended September 30, 2016 , $27 million and $666 million in claims were resolved, including zero and $477 million that are deemed time-barred. Of the remaining unresolved monoline claims, substantially all of the claims pertain to second-lien loans and are currently the subject of litigation with a single monoline insurer. There may be additional claims or file requests in the future. In addition to the unresolved repurchase claims in the Unresolved Repurchase Claims by Counterparty, net of duplicate claims table, the Corporation has received notifications from sponsors of third-party securitizations with whom the Corporation engaged in whole-loan transactions indicating that the Corporation may have indemnity obligations with respect to loans for which the Corporation has not received a repurchase request. These outstanding notifications totaled $1.3 billion and $1.4 billion at September 30, 2016 and December 31, 2015 . The presence of repurchase claims on a given trust, receipt of notices of indemnification obligations and receipt of other communications, as discussed above, are among the factors that inform the Corporation's liability for representations and warranties and the corresponding estimated range of possible loss. Private-label Securitizations and Whole-loan Sales Experience Prior to 2009, legacy companies and certain subsidiaries sold pools of first-lien residential mortgage loans and home equity loans as private-label securitizations or in the form of whole loans. In connection with these transactions, the Corporation or certain of its subsidiaries or legacy companies made various representations and warranties. When the Corporation provided representations and warranties in connection with the sale of whole loans, the whole-loan investors may retain the right to make repurchase claims even when the loans were aggregated with other collateral into private-label securitizations sponsored by the whole-loan investors. In other third-party securitizations, the whole-loan investors' rights to enforce the representations and warranties were transferred to the securitization trustees. Private-label securitization investors generally do not have the contractual right to demand repurchase of loans directly or the right to access loan files directly. At both September 30, 2016 and December 31, 2015 , for loans originated between 2004 and 2008 , the notional amount of unresolved repurchase claims submitted by private-label securitization trustees, whole-loan investors, including third-party securitization sponsors, and others was $16.7 billion . The notional amount of unresolved repurchase claims at both September 30, 2016 and December 31, 2015 included $3.5 billion of claims related to loans in specific private-label securitization groups or tranches where the Corporation owns substantially all of the outstanding securities. The notional amount of outstanding unresolved repurchase claims remained relatively unchanged for the nine months ended September 30, 2016 compared to December 31, 2015 . Outstanding repurchase claims remained unresolved primarily due to (1) the level of detail, support and analysis accompanying such claims, which impact overall claim quality and, therefore, claims resolution, and (2) the lack of an established process to resolve disputes related to these claims. The Corporation reviews properly presented repurchase claims on a loan-by-loan basis. For time-barred claims, the counterparty is informed that the claim is denied on the basis of the statute of limitations and the claim is treated as resolved. For timely claims, if the Corporation, after review, does not believe a claim is valid, it will deny the claim and generally indicate a reason for the denial. If the counterparty agrees with the Corporation's denial of the claim, the counterparty may rescind the claim. If 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. When a claim is denied and the Corporation does not hear from the counterparty for six months, the Corporation views the claim as inactive; however, such claims remain in the outstanding claims balance until resolution. 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. The Corporation has performed an initial review with respect to substantially all outstanding claims and, although the Corporation does not believe a valid basis for repurchase has been established by the claimant, it considers such claims activity in the computation of its liability for representations and warranties. Liability for Representations and Warranties and Corporate Guarantees and Estimated Range of Possible Loss 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 representations and warranties liability and the corresponding estimated range of possible loss at September 30, 2016 considers, among other things, the repurchase experience implied in the settlement with BNY Mellon. Since the securitization trusts that were included in the settlement with BNY Mellon differ from other securitization trusts where the possibility of timely claims exists, the Corporation adjusted the repurchase experience implied in the settlement in order to determine the representations and warranties liability and the corresponding estimated range of possible loss. 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) 2016 2015 2016 2015 Liability for representations and warranties and corporate guarantees, beginning of period $ 2,723 $ 11,556 $ 11,326 $ 12,081 Additions for new sales 1 2 3 5 Net reductions (23 ) (174 ) (8,687 ) (581 ) Provision (benefit) 99 75 158 (46 ) Liability for representations and warranties and corporate guarantees, September 30 (1) $ 2,800 $ 11,459 $ 2,800 $ 11,459 (1) In February 2016, the Corporation made an $8.5 billion cash payment as part of the settlement with BNY Mellon. The representations and warranties liability represents the Corporation's best estimate of probable incurred losses as of September 30, 2016 . However, it is reasonably possible that future representations and warranties losses may occur in excess of the amounts recorded for these exposures. The Corporation currently estimates that the range of possible loss for representations and warranties exposures could be up to $2 billion over existing accruals at September 30, 2016 . The Corporation treats claims that are time-barred as resolved and does not consider such claims in the estimated range of possible loss . The estimated range of possible loss reflects principally exposures related to loans in private-label securitization trusts. It represents a reasonably possible loss, but 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 liability for representations and warranties exposures and the corresponding estimated range of possible loss do not consider certain losses related to servicing, including foreclosure and related costs, fraud, indemnity, or claims (including for RMBS) related to securities law or monoline insurance litigation. Losses with respect to one or more of these matters could be material to the Corporation's results of operations or liquidity for any particular reporting period. 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 predictive models, including, without limitation, the actual repurchase rates on loans in trusts not settled as part of the settlement with BNY Mellon which may be different than the implied repurchase experience, estimated MI rescission rates, economic conditions, estimated home prices, consumer and counterparty behavior, the applicable statute of limitations, potential indemnity obligations to third parties to whom the Corporation has sold loans subject to representations and warranties 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 more information on the settlement with BNY Mellon, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 8 – Goodwill and Intangible Assets Goodwill The table below presents goodwill balances by business segment and All Other at September 30, 2016 and December 31, 2015 . The reporting units utilized for goodwill impairment testing are the operating segments or one level below. For more information, see Note 8 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Goodwill (Dollars in millions) September 30 December 31 Consumer Banking $ 30,123 $ 30,123 Global Wealth & Investment Management 9,681 9,698 Global Banking 23,923 23,923 Global Markets 5,197 5,197 All Other 820 820 Total goodwill $ 69,744 $ 69,761 Intangible Assets The table below presents the gross and net carrying values and accumulated amortization for intangible assets at September 30, 2016 and December 31, 2015 . Intangible Assets (1, 2) September 30, 2016 December 31, 2015 (Dollars in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Purchased credit card and affinity relationships $ 6,876 $ 6,213 $ 663 $ 7,006 $ 6,111 $ 895 Core deposit and other intangibles (3) 3,837 2,023 1,814 3,922 1,986 1,936 Customer relationships 3,887 3,196 691 3,927 2,990 937 Total intangible assets $ 14,600 $ 11,432 $ 3,168 $ 14,855 $ 11,087 $ 3,768 (1) Excludes fully amortized intangible assets. (2) At September 30, 2016 and December 31, 2015 , none of the intangible assets were impaired. (3) Includes intangible assets of $1.6 billion at both September 30, 2016 and December 31, 2015 associated with trade names that have an indefinite life and, accordingly, are not amortized. Amortization of intangibles expense was $181 million and $554 million for the three and nine months ended September 30, 2016, compared to $207 million and $632 million for the same periods in 2015. The Corporation estimates aggregate amortization expense will be $179 million for the fourth quarter of 2016, and $638 million , $559 million , $118 million , $57 million and $3 million for the years ended 2017 , 2018 , 2019 , 2020 and 2021 . |
Federal Funds Sold or Purchased
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | 9 Months Ended |
Sep. 30, 2016 | |
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings [Abstract] | |
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings | NOTE 9 – 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. The Corporation elects to account for certain securities financing agreements and short-term borrowings under the fair value option. For more information on the election of the fair value option, see Note 15 – Fair Value Option . Three Months Ended September 30 Nine Months Ended September 30 Amount Rate Amount Rate (Dollars in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Average during period Federal funds sold and securities borrowed or purchased under agreements to resell $ 214,254 $ 210,127 0.50 % 0.52 % $ 215,476 $ 212,781 0.50 % 0.49 % Federal funds purchased and securities loaned or sold under agreements to repurchase $ 177,883 $ 219,613 0.93 % 0.83 % $ 184,500 $ 218,112 1.00 % 0.92 % Short-term borrowings 29,751 37,710 2.02 1.44 30,631 33,119 1.85 1.47 Total $ 207,634 $ 257,323 1.09 0.92 $ 215,131 $ 251,231 1.12 0.99 Maximum month-end balance during period Federal funds sold and securities borrowed or purchased under agreements to resell $ 222,489 $ 217,701 $ 225,015 $ 226,502 Federal funds purchased and securities loaned or sold under agreements to repurchase $ 192,536 $ 235,232 $ 196,631 $ 235,232 Short-term borrowings 31,935 40,110 33,051 40,110 Offsetting of Securities Financing Agreements Substantially all of the Corporation's securities financing activities are transacted under legally enforceable master repurchase agreements or 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 financing 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 Securities Financing Agreements table 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, 2016 and December 31, 2015 . 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 2 – Derivatives . The "Other" amount in the table, which is included on the Consolidated Balance Sheet in accrued expenses and other liabilities, relates to transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged as collateral or sold. In these transactions, the Corporation recognizes an asset at fair value, representing the securities received, and a liability, representing the obligation to return those securities. Gross assets and liabilities in the table 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. The column titled "Financial Instruments" in the table 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 this 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. Securities Financing Agreements September 30, 2016 (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 (1) $ 361,474 $ (142,664 ) $ 218,810 $ (168,580 ) $ 50,230 Securities loaned or sold under agreements to repurchase $ 320,847 $ (142,664 ) $ 178,183 $ (148,316 ) $ 29,867 Other 15,588 — 15,588 (15,588 ) — Total $ 336,435 $ (142,664 ) $ 193,771 $ (163,904 ) $ 29,867 December 31, 2015 Securities borrowed or purchased under agreements to resell (1) $ 347,281 $ (154,799 ) $ 192,482 $ (144,332 ) $ 48,150 Securities loaned or sold under agreements to repurchase $ 329,078 $ (154,799 ) $ 174,279 $ (135,737 ) $ 38,542 Other 13,235 — 13,235 (13,235 ) — Total $ 342,313 $ (154,799 ) $ 187,514 $ (148,972 ) $ 38,542 (1) Excludes repurchase activity of $11.3 billion and $9.3 billion reported in loans and leases on the Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 . Repurchase Agreements and Securities Loaned Transactions Accounted for as Secured Borrowings The tables below present securities sold under agreements to repurchase and securities loaned by remaining contractual term to maturity and class of collateral pledged. Included in "Other" are transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged as collateral or sold. Certain agreements contain a right to substitute collateral and/or terminate the agreement prior to maturity at the option of the Corporation or the counterparty. Such agreements are included in the table below based on the remaining contractual term to maturity. At September 30, 2016 and December 31, 2015 , the Corporation had no outstanding repurchase-to-maturity transactions. Remaining Contractual Maturity September 30, 2016 (Dollars in millions) Overnight and Continuous 30 Days or Less After 30 Days Through 90 Days Greater than 90 Days (1) Total Securities sold under agreements to repurchase $ 143,277 $ 72,784 $ 43,945 $ 40,385 $ 300,391 Securities loaned 15,372 1,458 1,804 1,822 20,456 Other 15,588 — — — 15,588 Total $ 174,237 $ 74,242 $ 45,749 $ 42,207 $ 336,435 December 31, 2015 Securities sold under agreements to repurchase $ 126,694 $ 86,879 $ 43,216 $ 27,514 $ 284,303 Securities loaned 39,772 363 2,352 2,288 44,775 Other 13,235 — — — 13,235 Total $ 179,701 $ 87,242 $ 45,568 $ 29,802 $ 342,313 (1) No agreements have maturities greater than three years . Class of Collateral Pledged September 30, 2016 (Dollars in millions) Securities Sold Under Agreements to Repurchase Securities Loaned Other Total U.S. government and agency securities $ 177,348 $ — $ 137 $ 177,485 Corporate securities, trading loans and other 8,724 1,475 326 10,525 Equity securities 20,517 11,261 15,089 46,867 Non-U.S. sovereign debt 85,885 7,720 36 93,641 Mortgage trading loans and ABS 7,917 — — 7,917 Total $ 300,391 $ 20,456 $ 15,588 $ 336,435 December 31, 2015 U.S. government and agency securities $ 142,572 $ — $ 27 $ 142,599 Corporate securities, trading loans and other 11,767 265 278 12,310 Equity securities 32,323 13,350 12,929 58,602 Non-U.S. sovereign debt 87,849 31,160 1 119,010 Mortgage trading loans and ABS 9,792 — — 9,792 Total $ 284,303 $ 44,775 $ 13,235 $ 342,313 The Corporation is required to post collateral with a market value equal to or in excess of the principal amount borrowed under repurchase agreements. For securities loaned transactions, the Corporation receives collateral in the form of cash, letters of credit or other securities. To ensure that the market value of the underlying collateral remains sufficient, collateral is generally valued daily and the Corporation may be required to deposit additional collateral or may receive or return collateral pledged when appropriate. Repurchase agreements and securities loaned transactions are generally either overnight, continuous (i.e., no stated term) or short-term. The Corporation manages liquidity risks related to these agreements by sourcing funding from a diverse group of counterparties, providing a range of securities collateral and pursuing longer durations, when appropriate. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 10 – 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 12 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2015 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 (SBLCs) and commercial letters of credit to meet the financing needs of its customers. The table below includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions. The distributed amounts were $12.4 billion and $14.3 billion at September 30, 2016 and December 31, 2015 . At September 30, 2016 , the carrying value of these commitments, excluding commitments accounted for under the fair value option, was $785 million , including deferred revenue of $18 million and a reserve for unfunded lending commitments of $767 million . At December 31, 2015 , the comparable amounts were $664 million , $18 million and $646 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 $7.7 billion and $10.9 billion at September 30, 2016 and December 31, 2015 that are accounted for under the fair value option. However, the table below excludes cumulative net fair value of $216 million and $658 million on these commitments, which is 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 15 – Fair Value Option . Credit Extension Commitments September 30, 2016 (Dollars in millions) Expire in One Year or Less Expire After One Year Through Expire After Three Years Through Expire After Five Years Total Notional amount of credit extension commitments Loan commitments $ 83,122 $ 133,262 $ 155,783 $ 21,500 $ 393,667 Home equity lines of credit 8,349 12,779 2,871 23,713 47,712 Standby letters of credit and financial guarantees (1) 19,198 10,820 3,347 1,355 34,720 Letters of credit 1,460 95 174 78 1,807 Legally binding commitments 112,129 156,956 162,175 46,646 477,906 Credit card lines (2) 379,956 — — — 379,956 Total credit extension commitments $ 492,085 $ 156,956 $ 162,175 $ 46,646 $ 857,862 December 31, 2015 Notional amount of credit extension commitments Loan commitments $ 84,884 $ 119,272 $ 158,920 $ 37,112 $ 400,188 Home equity lines of credit 7,074 18,438 5,126 19,697 50,335 Standby letters of credit and financial guarantees (1) 19,584 9,903 3,385 1,218 34,090 Letters of credit 1,650 165 258 54 2,127 Legally binding commitments 113,192 147,778 167,689 58,081 486,740 Credit card lines (2) 370,127 — — — 370,127 Total credit extension commitments $ 483,319 $ 147,778 $ 167,689 $ 58,081 $ 856,867 (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 $26.3 billion and $8.3 billion at September 30, 2016 , and $25.5 billion and $8.4 billion at December 31, 2015 . Amounts in the table include consumer SBLCs of $129 million and $164 million at September 30, 2016 and December 31, 2015 . (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, 2016 and December 31, 2015 , the Corporation had commitments to purchase loans (e.g., residential mortgage and commercial real estate) of $902 million and $729 million , and commitments to purchase commercial loans of $630 million and $874 million , which upon settlement will be included in loans or LHFS. At both September 30, 2016 and December 31, 2015 , the Corporation had commitments to purchase commodities, primarily liquefied natural gas of $1.9 billion , which upon settlement will be included in trading account assets. At September 30, 2016 and December 31, 2015 , the Corporation had commitments to enter into resale and forward-dated resale and securities borrowing agreements of $50.0 billion and $88.6 billion , and commitments to enter into forward-dated repurchase and securities lending agreements of $28.6 billion and $53.7 billion . These commitments expire within the next 12 months. The Corporation has entered into agreements to purchase retail automotive loans from certain auto loan originators. These agreements provide for stated purchase amounts and contain cancellation provisions that allow the Corporation to terminate its commitment to purchase at any time, with a minimum notification period. At September 30, 2016 and December 31, 2015 , the Corporation's maximum purchase commitment was $1.8 billion and $1.2 billion . In addition, the Corporation has a commitment to originate or purchase auto loans and leases from a strategic partner of $620 million over the remainder of 2016 , and $2.4 billion in 2017 . This commitment expires on December 31, 2017. The Corporation is a party to operating leases for certain of its premises and equipment. Commitments under these leases are approximately $604 million , $2.3 billion , $2.0 billion , $1.7 billion and $1.5 billion for the remainder of 2016 and the years through 2020 , respectively, and $5.4 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, 2016 and December 31, 2015 , the notional amount of these guarantees totaled $13.9 billion and $13.8 billion , and the Corporation's maximum exposure related to these guarantees totaled $3.2 billion and $3.1 billion , with estimated maturity dates between 2031 and 2039. The net fair value including the fee receivable associated with these guarantees was $6 million and $12 million at September 30, 2016 and December 31, 2015 , and reflects the probability of surrender as well as the multiple structural protection features in the contracts. 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, 2016 , the sponsored entities processed and settled $189.9 billion and $527.7 billion of transactions and recorded losses of $9 million and $23 million . For the three and nine months ended September 30, 2015 , the sponsored entities processed and settled $168.6 billion and $494.2 billion of transactions and recorded losses of $6 million and $16 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, 2016 and December 31, 2015 , the sponsored merchant processing servicers held as collateral $175 million and $181 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, 2016 and December 31, 2015 , the maximum potential exposure for sponsored transactions totaled $302.1 billion and $277.1 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 Guarantees The Corporation has entered into additional guarantee agreements and commitments, including sold risk participation swaps, liquidity facilities, lease-end obligation agreements, partial credit guarantees on certain leases, real estate joint venture guarantees, divested business commitments and sold put options that require gross settlement. The maximum potential future payment under these agreements was approximately $6.5 billion and $6.0 billion at September 30, 2016 and December 31, 2015 . The estimated maturity dates of these obligations extend up to 2040. 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. Other Contingencies 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 Prudential Regulation Authority and the Financial Conduct Authority (FCA) investigated and raised concerns about the way some companies have handled complaints related to the sale of these insurance policies. In August 2016, the FCA issued a further consultation paper on the treatment of certain PPI claims and expects to finalize guidance by the end of the year. The reserve for PPI claims was $165 million and $360 million at September 30, 2016 and December 31, 2015 . The Corporation recorded no expense and $13 million for the three and nine months ended September 30, 2016 compared to $303 million and $319 million for the same periods in 2015 . It is possible that the Corporation will incur additional expense related to PPI claims; however, the amount of such additional expense cannot be reasonably estimated. FDIC Beginning in the third quarter of 2016, the FDIC implemented a surcharge of 4.5 cents per $100 of their assessment base, after making certain adjustments, on insured depository institutions with total assets of $10 billion or more. The FDIC expects the surcharge to be in effect for approximately two years. If the Deposit Insurance Fund (DIF) reserve ratio does not reach 1.35 percent by December 31, 2018, the FDIC will impose a shortfall assessment on any bank subject to the surcharge. The surcharge increased the Corporation's deposit insurance assessment for the three months ended September 30, 2016 by approximately $100 million , and the Corporation expects that amount of expense related to the surcharge in future quarters. The FDIC has also adopted regulations that establish a long-term target DIF ratio of greater than two percent , which would be expected to impose additional deposit insurance costs on the Corporation. Deposit insurance assessment rates are subject to change by the FDIC, and can be impacted by the overall economy, the stability of the banking industry as a whole, and regulations or regulatory interpretations. Litigation and Regulatory Matters The following supplements the disclosure in Note 12 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K and in Note 10 – 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, 2016 and March 31, 2016 (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, regulatory and governmental actions and proceedings. In view of the inherent difficulty of predicting the outcome of such 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 matters will be, what the timing of the ultimate resolution of these matters will be, or what the expense, eventual loss, fines or penalties related to each matter may be. In accordance with applicable accounting guidance, the Corporation establishes an accrued liability 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. As a 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. Once the loss contingency is deemed to be both probable and estimable, the Corporation will establish an accrued liability 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 and external legal service providers, litigation-related expense of $250 million and $908 million was recognized for the three and nine months ended September 30, 2016 compared to $231 million and $776 million for the same periods in 2015 . For a limited number of the matters disclosed in this Note, and in the prior commitments and contingencies disclosure, for which a loss, whether in excess of a related accrued liability or where there is no accrued liability, is reasonably possible in future periods, the Corporation is able to estimate a range of possible loss. In determining whether it is possible to estimate a range of possible loss, the Corporation reviews and evaluates its matters on an ongoing basis, in conjunction with any outside counsel handling the matter, in light of potentially relevant factual and legal developments. In cases in which the Corporation possesses sufficient appropriate information to estimate a 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 of the range of possible loss may not be possible. For those matters where an estimate of the range of possible loss is possible, management currently estimates the aggregate range of possible loss is $0 to $1.1 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. 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 liquidity for any particular reporting period. Bond Insurance Litigation Ambac Countrywide Litigation On October 11, 2016, the Wisconsin Supreme Court granted Countrywide's petition in The Segregated Account of Ambac Assurance Corporation and Ambac Assurance Corporation v. Countrywide Home Loans, Inc., for review of the decision of the Court of Appeals of Wisconsin, District IV, which reversed the lower court's dismissal of the action for lack of personal jurisdiction. LIBOR, Other Reference Rate and Foreign Exchange (FX) Inquiries and Litigation On October 20, 2016, the defendants in the LIBOR litigation filed a petition for a writ of certiorari to the U.S. Supreme Court to review the Second Circuit's holding regarding the antitrust claims dismissed by the district court. O'Donnell Litigation On August 22, 2016, the Second Circuit denied the Government's petition for rehearing. On September 2, 2016, the District Court entered judgment on remand in favor of the defendants. |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Shareholders' Equity | NOTE 11 – Shareholders' Equity Common Stock The table below presents the declared quarterly cash dividends on common stock in 2016 and through November 1, 2016 . Declaration Date Record Date Payment Date Dividend Per Share October 27, 2016 December 2, 2016 December 30, 2016 $0.075 July 27, 2016 September 2, 2016 September 23, 2016 0.075 April 27, 2016 June 3, 2016 June 24, 2016 0.05 January 21, 2016 March 4, 2016 March 25, 2016 0.05 During the three months ended September 30, 2016 , the Corporation repurchased and retired 93.0 million shares of common stock in connection with the 2016 Comprehensive Capital Analysis and Review (CCAR) capital plan, which reduced shareholders' equity by $1.4 billion . This includes shares repurchased to offset the dilution resulting from certain equity-based compensation awards. During the nine months ended September 30, 2016 , in connection with employee stock plans, the Corporation issued approximately 9 million shares and repurchased approximately 4 million shares of its common stock to satisfy tax withholding obligations. At September 30, 2016 , the Corporation had reserved 1.6 billion unissued shares of common stock for future issuances under employee stock plans, common stock warrants, convertible notes and preferred stock. The Corporation has certain warrants outstanding and exercisable to purchase 150 million shares of its common stock, expiring on January 16, 2019 and warrants outstanding and exercisable to purchase 122 million shares of its common stock, expiring on October 28, 2018. These warrants are listed on the New York Stock Exchange. The exercise price of the warrants expiring on January 16, 2019 is subject to continued adjustment each time the quarterly cash dividend is in excess of $0.01 per common share to compensate the holders of the warrants for dilution resulting from an increased dividend. As a result of the Corporation's third-quarter 2016 dividend of $0.075 per common share, the exercise price of these warrants was adjusted to $12.980 . The warrants expiring on October 28, 2018 also contain this anti-dilution provision except the adjustment is triggered only when the Corporation declares quarterly dividends at a level greater than $0.32 per common share. During the three months ended March 31, 2016 , June 30, 2016 and September 30, 2016 , the Corporation declared $457 million , $361 million and $503 million of cash dividends on preferred stock, or a total of $1.3 billion for the nine months ended September 30, 2016 . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 12 – Accumulated Other Comprehensive Income (Loss) The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2016 and 2015 . (Dollars in millions) Debt Securities Available-for-sale Marketable Equity Securities Debit Valuation Adjustments Derivatives Employee Benefit Plans Foreign Currency (1) Total Balance, December 31, 2014 $ 1,641 $ 17 n/a $ (1,661 ) $ (3,350 ) $ (669 ) $ (4,022 ) Cumulative adjustment for accounting change — — $ (1,226 ) — — — (1,226 ) Net change 169 (2 ) 633 416 77 (84 ) 1,209 Balance, September 30, 2015 $ 1,810 $ 15 $ (593 ) $ (1,245 ) $ (3,273 ) $ (753 ) $ (4,039 ) Balance, December 31, 2015 $ 16 $ 62 $ (611 ) $ (1,077 ) $ (2,956 ) $ (792 ) $ (5,358 ) Net change 3,362 (43 ) 49 277 29 (17 ) 3,657 Balance, September 30, 2016 $ 3,378 $ 19 $ (562 ) $ (800 ) $ (2,927 ) $ (809 ) $ (1,701 ) (1) The 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. n/a = not applicable The table below presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI before- and after-tax for the nine months ended September 30, 2016 and 2015 . Changes in OCI Components Before- and After-tax Nine Months Ended September 30 2016 2015 (Dollars in millions) Before-tax Tax effect After-tax Before-tax Tax effect After-tax Debt securities: Net change in unrealized gains $ 5,896 $ (2,239 ) $ 3,657 $ 1,089 $ (418 ) $ 671 Net realized gains reclassified into earnings (476 ) 181 (295 ) (809 ) 307 (502 ) Net change 5,420 (2,058 ) 3,362 280 (111 ) 169 Available-for-sale marketable equity securities: Net decrease in fair value (70 ) 27 (43 ) (3 ) 1 (2 ) Net change (70 ) 27 (43 ) (3 ) 1 (2 ) Debit valuation adjustments: Net increase in fair value 61 (23 ) 38 475 (181 ) 294 Net realized losses reclassified into earnings 18 (7 ) 11 545 (206 ) 339 Net change 79 (30 ) 49 1,020 (387 ) 633 Derivatives: Net decrease in fair value (64 ) 23 (41 ) (42 ) 14 (28 ) Net realized losses reclassified into earnings 508 (190 ) 318 711 (267 ) 444 Net change 444 (167 ) 277 669 (253 ) 416 Employee benefit plans: Net realized losses reclassified into earnings 64 (25 ) 39 128 (49 ) 79 Settlements, curtailments and other — (10 ) (10 ) (2 ) — (2 ) Net change 64 (35 ) 29 126 (49 ) 77 Foreign currency: Net decrease in fair value 123 (140 ) (17 ) 482 (566 ) (84 ) Net realized gains reclassified into earnings — — — (29 ) 29 — Net change 123 (140 ) (17 ) 453 (537 ) (84 ) Total other comprehensive income $ 6,060 $ (2,403 ) $ 3,657 $ 2,545 $ (1,336 ) $ 1,209 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, 2016 and 2015 . There were no amounts reclassified out of AFS marketable equity securities and foreign currency for the nine months ended September 30, 2016 and 2015 . Reclassifications Out of Accumulated OCI (Dollars in millions) Nine Months Ended September 30 Accumulated OCI Components Income Statement Line Item Impacted 2016 2015 Debt securities: Gains on sales of debt securities $ 490 $ 886 Other loss (14 ) (77 ) Income before income taxes 476 809 Income tax expense 181 307 Reclassification to net income 295 502 Debit valuation adjustments: Other loss (18 ) (545 ) Loss before income taxes (18 ) (545 ) Income tax benefit (7 ) (206 ) Reclassification to net income (11 ) (339 ) Derivatives: Interest rate contracts Net interest income (447 ) (768 ) Equity compensation contracts Personnel (61 ) 57 Loss before income taxes (508 ) (711 ) Income tax benefit (190 ) (267 ) Reclassification to net income (318 ) (444 ) Employee benefit plans: Net actuarial losses and prior service costs Personnel (64 ) (128 ) Loss before income taxes (64 ) (128 ) Income tax benefit (25 ) (49 ) Reclassification to net income (39 ) (79 ) Total reclassification adjustments $ (73 ) $ (360 ) |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 13 – Earnings Per Common Share The calculation of earnings per common share (EPS) and diluted EPS for the three and nine months ended September 30, 2016 and 2015 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 2015 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) 2016 2015 2016 2015 Earnings per common share Net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 Preferred stock dividends (503 ) (441 ) (1,321 ) (1,153 ) Net income applicable to common shareholders $ 4,452 $ 4,178 $ 11,889 $ 11,399 Average common shares issued and outstanding 10,250,124 10,444,291 10,312,878 10,483,466 Earnings per common share $ 0.43 $ 0.40 $ 1.15 $ 1.09 Diluted earnings per common share Net income applicable to common shareholders $ 4,452 $ 4,178 $ 11,889 $ 11,399 Add preferred stock dividends due to assumed conversions 75 75 225 225 Net income allocated to common shareholders $ 4,527 $ 4,253 $ 12,114 $ 11,624 Average common shares issued and outstanding 10,250,124 10,444,291 10,312,878 10,483,466 Dilutive potential common shares (1) 750,349 752,912 733,929 750,659 Total diluted average common shares issued and outstanding 11,000,473 11,197,203 11,046,807 11,234,125 Diluted earnings per common share $ 0.41 $ 0.38 $ 1.10 $ 1.03 (1) Includes incremental dilutive 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 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, 2016 and 2015 , the 700 million average dilutive potential common shares were included in the diluted share count under the "if-converted" method. For both the three and nine months ended September 30, 2016 and 2015 , 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, 2016 , average options to purchase 42 million and 46 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 64 million and 67 million for the same periods in 2015 . For both the three and nine months ended September 30, 2016 and 2015 , average warrants to purchase 122 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 and average warrants to purchase 150 million shares of common stock were included in the diluted EPS calculation using the treasury stock method. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 14 – 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 and Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . The Corporation accounts for certain financial instruments under the fair value option. For additional information, see Note 15 – 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, 2016 , 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. Recurring Fair Value Assets and liabilities carried at fair value on a recurring basis at September 30, 2016 and December 31, 2015 , including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables. September 30, 2016 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Federal funds sold and securities borrowed or purchased under agreements to resell $ — $ 51,638 $ — $ — $ 51,638 Trading account assets: U.S. government and agency securities (2) 38,950 18,404 — — 57,354 Corporate securities, trading loans and other 168 27,702 2,562 — 30,432 Equity securities 37,641 22,858 366 — 60,865 Non-U.S. sovereign debt 14,931 13,956 639 — 29,526 Mortgage trading loans and ABS — 8,506 1,166 — 9,672 Total trading account assets (3) 91,690 91,426 4,733 — 187,849 Derivative assets (4) 7,515 775,954 4,867 (740,440 ) 47,896 AFS debt securities: U.S. Treasury and agency securities 43,798 1,486 — — 45,284 Mortgage-backed securities: Agency — 201,051 — — 201,051 Agency-collateralized mortgage obligations — 9,081 — — 9,081 Non-agency residential — 1,391 227 — 1,618 Commercial — 12,936 — — 12,936 Non-U.S. securities 2,689 3,321 — — 6,010 Other taxable securities — 8,729 687 — 9,416 Tax-exempt securities — 15,413 571 — 15,984 Total AFS debt securities 46,487 253,408 1,485 — 301,380 Other debt securities carried at fair value: Mortgage-backed securities: Agency-collateralized mortgage obligations — 6 — — 6 Non-agency residential — 3,167 26 — 3,193 Non-U.S. securities 16,212 1,468 — — 17,680 Other taxable securities — 246 — — 246 Total other debt securities carried at fair value 16,212 4,887 26 — 21,125 Loans and leases (5) — 6,753 1,355 — 8,108 Mortgage servicing rights — — 2,477 — 2,477 Loans held-for-sale — 4,065 587 — 4,652 Other assets 11,488 2,040 363 — 13,891 Total assets $ 173,392 $ 1,190,171 $ 15,893 $ (740,440 ) $ 639,016 Liabilities Interest-bearing deposits in U.S. offices $ — $ 913 $ — $ — $ 913 Federal funds purchased and securities loaned or sold under agreements to repurchase — 31,530 338 — 31,868 Trading account liabilities: U.S. government and agency securities 9,515 273 — — 9,788 Equity securities 42,193 3,344 — — 45,537 Non-U.S. sovereign debt 13,131 2,234 — — 15,365 Corporate securities and other 115 6,167 26 — 6,308 Total trading account liabilities 64,954 12,018 26 — 76,998 Derivative liabilities (4) 7,555 769,162 5,854 (739,087 ) 43,484 Short-term borrowings — 1,055 — — 1,055 Accrued expenses and other liabilities 13,752 2,052 9 — 15,813 Long-term debt — 30,685 1,934 — 32,619 Total liabilities $ 86,261 $ 847,415 $ 8,161 $ (739,087 ) $ 202,750 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $18.4 billion of GSE obligations. (3) Includes securities with a fair value of $11.2 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. (4) During the nine months ended September 30, 2016 , $1.4 billion of derivative assets and $1.5 billion of derivative liabilities were transferred from Level 1 to Level 2 and $1.6 billion of derivative assets and $1.5 billion of derivative liabilities were transferred from Level 2 to Level 1 based on the inputs used to measure fair value. For further disaggregation of derivative assets and liabilities, see Note 2 – Derivatives . (5) Includes $655 million from CFEs that were measured using the fair value of the financial liabilities of those entities as the measurement basis. December 31, 2015 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Federal funds sold and securities borrowed or purchased under agreements to resell $ — $ 55,143 $ — $ — $ 55,143 Trading account assets: U.S. government and agency securities (2) 33,034 15,501 — — 48,535 Corporate securities, trading loans and other 325 22,738 2,838 — 25,901 Equity securities 41,735 20,887 407 — 63,029 Non-U.S. sovereign debt 15,651 12,915 521 — 29,087 Mortgage trading loans and ABS — 8,107 1,868 — 9,975 Total trading account assets (3) 90,745 80,148 5,634 — 176,527 Derivative assets (4) 5,149 678,355 5,134 (638,648 ) 49,990 AFS debt securities: U.S. Treasury and agency securities 23,374 1,903 — — 25,277 Mortgage-backed securities: Agency — 228,947 — — 228,947 Agency-collateralized mortgage obligations — 10,985 — — 10,985 Non-agency residential — 3,073 106 — 3,179 Commercial — 7,165 — — 7,165 Non-U.S. securities 2,768 2,999 — — 5,767 Other taxable securities — 9,688 757 — 10,445 Tax-exempt securities — 13,439 569 — 14,008 Total AFS debt securities 26,142 278,199 1,432 — 305,773 Other debt securities carried at fair value: Mortgage-backed securities: Agency-collateralized mortgage obligations — 7 — — 7 Non-agency residential — 3,460 30 — 3,490 Non-U.S. securities 11,691 1,152 — — 12,843 Other taxable securities — 267 — — 267 Total other debt securities carried at fair value 11,691 4,886 30 — 16,607 Loans and leases — 5,318 1,620 — 6,938 Mortgage servicing rights — — 3,087 — 3,087 Loans held-for-sale — 4,031 787 — 4,818 Other assets (5) 11,923 2,023 374 — 14,320 Total assets $ 145,650 $ 1,108,103 $ 18,098 $ (638,648 ) $ 633,203 Liabilities Interest-bearing deposits in U.S. offices $ — $ 1,116 $ — $ — $ 1,116 Federal funds purchased and securities loaned or sold under agreements to repurchase — 24,239 335 — 24,574 Trading account liabilities: U.S. government and agency securities 14,803 169 — — 14,972 Equity securities 27,898 2,392 — — 30,290 Non-U.S. sovereign debt 13,589 1,951 — — 15,540 Corporate securities and other 193 5,947 21 — 6,161 Total trading account liabilities 56,483 10,459 21 — 66,963 Derivative liabilities (4) 4,941 670,600 5,575 (642,666 ) 38,450 Short-term borrowings — 1,295 30 — 1,325 Accrued expenses and other liabilities 11,656 2,234 9 — 13,899 Long-term debt — 28,584 1,513 — 30,097 Total liabilities $ 73,080 $ 738,527 $ 7,483 $ (642,666 ) $ 176,424 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $14.8 billion of GSE obligations. (3) Includes securities with a fair value of $16.4 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. (4) During 2015 , $6.6 billion of derivative assets and $6.7 billion of derivative liabilities were transferred from Level 1 to Level 2 based on inputs used to measure fair value. Additionally, $6.4 billion of derivative assets and $6.2 billion of derivative liabilities were transferred from Level 2 to Level 1 due to additional information related to certain options. For further disaggregation of derivative assets and liabilities, see Note 2 – Derivatives . (5) During 2015 , approximately $327 million of assets were transferred from Level 2 to Level 1 due to a restriction that was lifted for an equity investment. 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, 2016 and 2015 , including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2016 Gross (Dollars in millions) Balance July 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,654 $ 57 $ — $ 226 $ (245 ) $ — $ (134 ) $ 202 $ (198 ) $ 2,562 Equity securities 455 11 — 10 (98 ) — — 27 (39 ) 366 Non-U.S. sovereign debt 630 20 (7 ) — — — (4 ) — — 639 Mortgage trading loans and ABS 1,286 102 — 331 (441 ) — (103 ) 15 (24 ) 1,166 Total trading account assets 5,025 190 (7 ) 567 (784 ) — (241 ) 244 (261 ) 4,733 Net derivative assets (3) (648 ) (131 ) — 114 (346 ) — 118 (53 ) (41 ) (987 ) AFS debt securities: Non-agency residential MBS 134 — — 189 — — (102 ) 6 — 227 Other taxable securities 717 1 (1 ) — — — (30 ) — — 687 Tax-exempt securities 559 — 2 — — — — 10 — 571 Total AFS debt securities 1,410 1 1 189 — — (132 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 28 (2 ) — — — — — — — 26 Loans and leases (4, 5) 1,459 (9 ) — — — — (54 ) — (41 ) 1,355 Mortgage servicing rights (5) 2,269 313 — — — 101 (206 ) — — 2,477 Loans held-for-sale (4) 690 13 (4 ) — (56 ) — (25 ) 4 (35 ) 587 Other assets 348 11 — 4 — — — — — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (313 ) (17 ) — — — — 10 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (26 ) 2 — — (2 ) — — — — (26 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,156 ) (22 ) (23 ) 15 — (3 ) 363 (206 ) 98 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Significant transfers into Level 3, primarily due to decreased price observability, during the three months ended September 30, 2016 included: • $244 million of trading account assets • $206 million of long-term debt. 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. Significant transfers out of Level 3, primarily due to increased price observability, during the three months ended September 30, 2016 included $261 million of trading account assets. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2015 Gross (Dollars in millions) Balance July 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,326 $ (6 ) $ (11 ) $ 553 $ (681 ) $ — $ (295 ) $ 238 $ (225 ) $ 2,899 Equity securities 386 (1 ) — 32 — — (6 ) 2 (3 ) 410 Non-U.S. sovereign debt 468 12 (102 ) 7 (1 ) — — — — 384 Mortgage trading loans and ABS 2,159 (7 ) — 293 (264 ) — (157 ) 2 (21 ) 2,005 Total trading account assets 6,339 (2 ) (113 ) 885 (946 ) — (458 ) 242 (249 ) 5,698 Net derivative assets (3) (351 ) 1,042 (5 ) 80 (290 ) — (115 ) (20 ) 56 397 AFS debt securities: Non-agency residential MBS 234 — (2 ) 41 — — (47 ) — (37 ) 189 Non-U.S. securities 9 — — — — — (6 ) — — 3 Other taxable securities 677 — (2 ) — — — (88 ) — (6 ) 581 Tax-exempt securities 584 — — — — — (15 ) — — 569 Total AFS debt securities 1,504 — (4 ) 41 — — (156 ) — (43 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS 34 (3 ) — — — — — — — 31 Loans and leases (4, 5) 1,970 17 — — (1 ) 57 (59 ) 7 (7 ) 1,984 Mortgage servicing rights (5) 3,521 (363 ) — — (87 ) 185 (213 ) — — 3,043 Loans held-for-sale (4) 660 — — 2 (79 ) 3 (6 ) 7 (28 ) 559 Other assets 756 (42 ) — 3 (11 ) — (17 ) — (15 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (368 ) — — — — (5 ) 208 (32 ) 1 (196 ) Trading account liabilities – Corporate securities and other (57 ) — — — 19 — — — — (38 ) Short-term borrowings (4) — 4 — — — (3 ) — (19 ) — (18 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,716 ) 252 — 139 — (40 ) 59 (264 ) 660 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Significant transfers into Level 3, primarily due to decreased price observability, during the three months ended September 30, 2015 included: • $242 million of trading account assets • $264 million of long-term debt. 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. Significant transfers out of Level 3, primarily due to increased price observability unless otherwise noted, during the three months ended September 30, 2015 included: • $249 million of trading account assets, primarily the result of increased market liquidity • $660 million of long-term debt Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2016 Gross (Dollars in millions) Balance January 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,838 $ 118 $ 2 $ 925 $ (638 ) $ — $ (479 ) $ 432 $ (636 ) $ 2,562 Equity securities 407 93 — 53 (135 ) — (72 ) 60 (40 ) 366 Non-U.S. sovereign debt 521 112 91 3 (1 ) — (87 ) — — 639 Mortgage trading loans and ABS 1,868 197 (2 ) 681 (1,264 ) — (270 ) 91 (135 ) 1,166 Total trading account assets 5,634 520 91 1,662 (2,038 ) — (908 ) 583 (811 ) 4,733 Net derivative assets (3) (441 ) 356 — 313 (965 ) — 7 (177 ) (80 ) (987 ) AFS debt securities: Non-agency residential MBS 106 — 3 385 (92 ) — (181 ) 6 — 227 Other taxable securities 757 3 (7 ) — — — (66 ) — — 687 Tax-exempt securities 569 — (8 ) 1 — — (1 ) 10 — 571 Total AFS debt securities 1,432 3 (12 ) 386 (92 ) — (248 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 30 (4 ) — — — — — — — 26 Loans and leases (4, 5) 1,620 (13 ) — 69 — 50 (143 ) 6 (234 ) 1,355 Mortgage servicing rights (5) 3,087 (295 ) — — — 307 (622 ) — — 2,477 Loans held-for-sale (4) 787 97 51 20 (236 ) — (77 ) 43 (98 ) 587 Other assets 374 (27 ) — 38 — — (24 ) 2 — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (335 ) 12 — — — (14 ) 17 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (21 ) 4 — 1 (10 ) — — — — (26 ) Short-term borrowings (4) (30 ) 1 — — — — 29 — — — Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (1,513 ) (192 ) (41 ) 44 — (326 ) 496 (751 ) 349 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Significant transfers into Level 3, primarily due to decreased price observability, during the nine months ended September 30, 2016 included: • $583 million of trading account assets • $177 million of net derivative assets • $751 million of long-term debt. 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. Significant transfers out of Level 3, primarily due to increased price observability, during the nine months ended September 30, 2016 included: • $811 million of trading account assets • $234 million of loans and leases • $349 million of long-term debt Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2015 Gross (Dollars in millions) Balance January 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,270 $ 28 $ (11 ) $ 1,030 $ (1,119 ) $ — $ (944 ) $ 1,221 $ (576 ) $ 2,899 Equity securities 352 13 — 48 (3 ) — (11 ) 33 (22 ) 410 Non-U.S. sovereign debt 574 94 (180 ) 34 (1 ) — (110 ) — (27 ) 384 Mortgage trading loans and ABS 2,063 154 — 1,102 (891 ) — (401 ) 12 (34 ) 2,005 Total trading account assets 6,259 289 (191 ) 2,214 (2,014 ) — (1,466 ) 1,266 (659 ) 5,698 Net derivative assets (3) (920 ) 1,608 (5 ) 193 (683 ) — 106 (80 ) 178 397 AFS debt securities: Non-agency residential MBS 279 (12 ) 5 103 — — (281 ) 132 (37 ) 189 Non-U.S. securities 10 — — — — — (7 ) — — 3 Other taxable securities 1,667 — (2 ) 6 — — (151 ) — (939 ) 581 Tax-exempt securities 599 — (1 ) — — — (29 ) — — 569 Total AFS debt securities 2,555 (12 ) 2 109 — — (468 ) 132 (976 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS — (2 ) — 33 — — — — — 31 Loans and leases (4, 5) 1,983 22 — — (3 ) 57 (179 ) 125 (21 ) 1,984 Mortgage servicing rights (5) 3,530 10 — — (399 ) 568 (666 ) — — 3,043 Loans held-for-sale (4) 173 (48 ) — 493 (174 ) 36 (12 ) 184 (93 ) 559 Other assets 911 (46 ) — 12 (129 ) — (32 ) 8 (50 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) — (14 ) — — — (33 ) 208 (358 ) 1 (196 ) Trading account liabilities – Corporate securities and other (36 ) 3 — 33 (38 ) — — — — (38 ) Short-term borrowings (4) — 9 — — — (24 ) 1 (23 ) 19 (18 ) Accrued expenses and other liabilities (10 ) 1 — — — — — — — (9 ) Long-term debt (4) (2,362 ) 322 — 316 — (179 ) 219 (1,380 ) 1,154 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Significant transfers into Level 3, primarily due to decreased price observability, during the nine months ended September 30, 2015 included: • $1.3 billion of trading account assets • $132 million of AFS debt securities • $125 million of loans and leases • $184 million of LHFS • $358 million of federal funds purchased and securities loaned or sold under agreements to repurchase • $1.4 billion of long-term debt. 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. Significant transfers out of Level 3, primarily due to increased price observability unless otherwise noted, during the nine months ended September 30, 2015 included: • $659 million of trading account assets, primarily the result of increased market liquidity • $178 million of net derivative assets • $976 million of AFS debt securities • $1.2 billion of long-term debt 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, 2016 and 2015 . These amounts include gains (losses) on financial instruments 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 57 $ — $ — $ 57 Equity securities 11 — — 11 Non-U.S. sovereign debt 20 — — 20 Mortgage trading loans and ABS 102 — — 102 Total trading account assets 190 — — 190 Net derivative assets (325 ) 185 9 (131 ) AFS debt securities – Other taxable securities — — 1 1 Other debt securities carried at fair value – Non-agency residential MBS — — (2 ) (2 ) Loans and leases (2) — — (9 ) (9 ) Mortgage servicing rights (22 ) 335 — 313 Loans held-for-sale (2) — — 13 13 Other assets — (4 ) 15 11 Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (17 ) — — (17 ) Trading account liabilities – Corporate securities and other 2 — — 2 Long-term debt (2) (22 ) — — (22 ) Total $ (194 ) $ 516 $ 27 $ 349 Three Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (6 ) $ — $ — $ (6 ) Equity securities (1 ) — — (1 ) Non-U.S. sovereign debt 12 — — 12 Mortgage trading loans and ABS (7 ) — — (7 ) Total trading account assets (2 ) — — (2 ) Net derivative assets 837 184 21 1,042 Other debt securities carried at fair value – Non-agency residential MBS — — (3 ) (3 ) Loans and leases (2) 1 — 16 17 Mortgage servicing rights 13 (376 ) — (363 ) Loans held-for-sale (2) (4 ) — 4 — Other assets — (32 ) (10 ) (42 ) Short-term borrowings (2) 4 — — 4 Long-term debt (2) 251 — 1 252 Total $ 1,100 $ (224 ) $ 29 $ 905 (1) Mortgage banking income (loss) 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 118 $ — $ — $ 118 Equity securities 93 — — 93 Non-U.S. sovereign debt 112 — — 112 Mortgage trading loans and ABS 197 — — 197 Total trading account assets 520 — — 520 Net derivative assets (142 ) 513 (15 ) 356 AFS debt securities – Other taxable securities — — 3 3 Other debt securities carried at fair value – Non-agency residential MBS — — (4 ) (4 ) Loans and leases (2) 8 — (21 ) (13 ) Mortgage servicing rights 7 (302 ) — (295 ) Loans held-for-sale (2) 11 — 86 97 Other assets — (41 ) 14 (27 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) 12 — — 12 Trading account liabilities – Corporate securities and other 4 — — 4 Short-term borrowings (2) 1 — — 1 Long-term debt (2) (193 ) — 1 (192 ) Total $ 228 $ 170 $ 64 $ 462 Nine Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ 28 $ — $ — $ 28 Equity securities 13 — — 13 Non-U.S. sovereign debt 94 — — 94 Mortgage trading loans and ABS 154 — — 154 Total trading account assets 289 — — 289 Net derivative assets 902 662 44 1,608 AFS debt securities – Non-agency residential MBS — — (12 ) (12 ) Other debt securities carried at fair value – Non-agency residential MBS — — (2 ) (2 ) Loans and leases (2) (5 ) — 27 22 Mortgage servicing rights 2 8 — 10 Loans held-for-sale (2) (58 ) — 10 (48 ) Other assets — (56 ) 10 (46 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (14 ) — — (14 ) Trading account liabilities – Corporate securities and other 3 — — 3 Short-term borrowings (2) 9 — — 9 Accrued expenses and other liabilities — — 1 1 Long-term debt (2) 350 — (28 ) 322 Total $ 1,478 $ 614 $ 50 $ 2,142 (1) Mortgage banking income (loss) 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, 2016 and 2015 for Level 3 assets and liabilities that were still held at September 30, 2016 and 2015 . These amounts include changes in fair value on financial 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 Three Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 20 $ — $ — $ 20 Equity securities 5 — — 5 Non-U.S. sovereign debt 19 — — 19 Mortgage trading loans and ABS 62 — — 62 Total trading account assets 106 — — 106 Net derivative assets (281 ) 74 9 (198 ) Loans and leases (2) — — (8 ) (8 ) Mortgage servicing rights (22 ) 284 — 262 Loans held-for-sale (2) — — 10 10 Other assets — 2 15 17 Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (17 ) — — (17 ) Trading account liabilities – Corporate securities and other 1 — — 1 Long-term debt (2) (24 ) — — (24 ) Total $ (237 ) $ 360 $ 26 $ 149 Three Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (34 ) $ — $ — $ (34 ) Equity securities (1 ) — — (1 ) Non-U.S. sovereign debt 12 — — 12 Mortgage trading loans and ABS (34 ) — — (34 ) Total trading account assets (57 ) — — (57 ) Net derivative assets 735 58 21 814 Loans and leases (2) 1 — 26 27 Mortgage servicing rights 13 (413 ) — (400 ) Other assets — (26 ) (12 ) (38 ) Trading account liabilities – Corporate securities and other 1 — — 1 Short-term borrowings (2) 4 — — 4 Long-term debt (2) 250 — — 250 Total $ 947 $ (381 ) $ 35 $ 601 (1) Mortgage banking income (loss) 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 11 $ — $ — $ 11 Equity securities (19 ) — — (19 ) Non-U.S. sovereign debt 110 — — 110 Mortgage trading loans and ABS 110 — — 110 Total trading account assets 212 — — 212 Net derivative assets (168 ) 75 (15 ) (108 ) Loans and leases (2) — — (3 ) (3 ) Mortgage servicing rights 7 (464 ) — (457 ) Loans held-for-sale (2) — — 76 76 Other assets — (25 ) 10 (15 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (21 ) — — (21 ) Trading account liabilities – Corporate securities and other 3 — — 3 Long-term debt (2) (208 ) — — (208 ) Total $ (175 ) $ (414 ) $ 68 $ (521 ) Nine Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (102 ) $ — $ — $ (102 ) Equity securities 7 — — 7 Non-U.S. sovereign debt 81 — — 81 Mortgage trading loans and ABS (28 ) — — (28 ) Total trading account assets (42 ) — — (42 ) Net derivative assets 1,037 59 44 1,140 Loans and leases (2) — — 50 50 Mortgage servicing rights 2 (213 ) — (211 ) Loans held-for-sale (2) (1 ) — (30 ) (31 ) Other |
Fair Value Option
Fair Value Option | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Option [Abstract] | |
Fair Value Option | NOTE 15 – 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 21 – Fair Value Option to the Consolidated Financial Statements of the Corporation's 2015 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, 2016 and December 31, 2015 . Fair Value Option Elections September 30, 2016 December 31, 2015 (Dollars in millions) Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Federal funds sold and securities borrowed or purchased under agreements to resell $ 51,638 $ 51,516 $ 122 $ 55,143 $ 54,999 $ 144 Loans reported as trading account assets (1) 5,653 11,134 (5,481 ) 4,995 9,214 (4,219 ) Trading inventory – other 8,701 n/a n/a 8,149 n/a n/a Consumer and commercial loans 8,108 8,132 (24 ) 6,938 7,293 (355 ) Loans held-for-sale 4,652 5,979 (1,327 ) 4,818 6,157 (1,339 ) Other assets 314 250 64 275 270 5 Long-term deposits 913 782 131 1,116 1,021 95 Federal funds purchased and securities loaned or sold under agreements to repurchase 31,868 32,031 (163 ) 24,574 24,718 (144 ) Short-term borrowings 1,055 1,055 — 1,325 1,325 — Unfunded loan commitments 216 n/a n/a 658 n/a n/a Long-term debt (2) 32,619 32,650 (31 ) 30,097 30,593 (496 ) (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) Includes structured liabilities with a fair value of $31.6 billion and $29.0 billion , and contractual principal outstanding of $31.5 billion and $29.4 billion at September 30, 2016 compared to December 31, 2015 . n/a = not applicable The following tables provide 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, 2016 and 2015 . Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Three Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) Other Income (Loss) Total Federal funds sold and securities borrowed or purchased under agreements to resell $ (25 ) $ — $ — $ (25 ) Loans reported as trading account assets 125 — — 125 Trading inventory – other (1) 907 — — 907 Consumer and commercial loans (8 ) — 13 5 Loans held-for-sale (2) 5 132 2 139 Other assets — — 23 23 Long-term deposits 4 — 4 8 Federal funds purchased and securities loaned or sold under agreements to repurchase (3 ) — — (3 ) Unfunded loan commitments — — 133 133 Long-term debt (3, 4) (138 ) — (24 ) (162 ) Total $ 867 $ 132 $ 151 $ 1,150 Three Months Ended September 30, 2015 Federal funds sold and securities borrowed or purchased under agreements to resell $ 7 $ — $ — $ 7 Loans reported as trading account assets (30 ) — — (30 ) Trading inventory – other (1) 273 — — 273 Consumer and commercial loans 11 — (129 ) (118 ) Loans held-for-sale (2) (4 ) 155 11 162 Other assets — — (3 ) (3 ) Long-term deposits (4 ) — (16 ) (20 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (23 ) — — (23 ) Unfunded loan commitments — — (201 ) (201 ) Short-term borrowings 1 — — 1 Long-term debt (3, 4) 1,297 — (54 ) 1,243 Total $ 1,528 $ 155 $ (392 ) $ 1,291 (1) The gains (losses) in trading account profits (losses) are primarily offset by gains (losses) on trading liabilities that hedge these assets. (2) Includes the value of IRLCs on funded loans, including those sold during the period. (3) The majority of the net gains (losses) in trading account profits relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. For more information on the adoption of new accounting guidance relating to DVA on structured liabilities, see Note 1 – Summary of Significant Accounting Principles . (4) For the cumulative impact of changes in the Corporation's own credit spreads and the amount recognized in OCI, see Note 12 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation's own credit spread is determined, see Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Nine Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) Other Income (Loss) Total Federal funds sold and securities borrowed or purchased under agreements to resell $ (26 ) $ — $ — $ (26 ) Loans reported as trading account assets 251 — — 251 Trading inventory – other (1) 551 — — 551 Consumer and commercial loans 26 — (8 ) 18 Loans held-for-sale (2) 10 493 57 560 Other assets — — 20 20 Long-term deposits (7 ) — (26 ) (33 ) Unfunded loan commitments — — 444 444 Long-term debt (3, 4) (718 ) — (77 ) (795 ) Total $ 87 $ 493 $ 410 $ 990 Nine Months Ended September 30, 2015 Federal funds sold and securities borrowed or purchased under agreements to resell $ (81 ) $ — $ — $ (81 ) Loans reported as trading account assets (98 ) — — (98 ) Trading inventory – other (1) 447 — — 447 Consumer and commercial loans 40 — (196 ) (156 ) Loans held-for-sale (2) (25 ) 567 99 641 Other assets — — 4 4 Long-term deposits (4 ) — 5 1 Federal funds purchased and securities loaned or sold under agreements to repurchase 25 — — 25 Unfunded loan commitments — — (146 ) (146 ) Long-term debt (3, 4) 1,887 — (604 ) 1,283 Total $ 2,191 $ 567 $ (838 ) $ 1,920 (1) The gains (losses) in trading account profits (losses) are primarily offset by gains (losses) on trading liabilities that hedge these assets. (2) Includes the value of IRLCs on funded loans, including those sold during the period. (3) The majority of the net gains (losses) in trading account profits relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. For more information on the adoption of new accounting guidance relating to DVA on structured liabilities, see Note 1 – Summary of Significant Accounting Principles . (4) For the cumulative impact of changes in the Corporation's own credit spreads and the amount recognized in OCI, see Note 12 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation's own credit spread is determined, see Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Gains (Losses) Related to Borrower-specific Credit Risk for Assets Accounted for Under the Fair Value Option Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Loans reported as trading account assets $ — $ 14 $ 5 $ 44 Consumer and commercial loans 14 (88 ) (25 ) (100 ) Loans held-for-sale (10 ) 8 (6 ) 58 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | NOTE 16 – Fair Value of Financial Instruments Financial instruments are classified within the fair value hierarchy using the methodologies described in Note 14 – Fair Value Measurements . The following disclosures include financial instruments where only a portion of the ending balance at September 30, 2016 and December 31, 2015 was carried at fair value on the Consolidated Balance Sheet. For more information on these financial instruments and their valuation methodologies, see Note 20 – Fair Value Measurements and Note 22 – Fair Value of Financial Instruments to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . 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, 2016 and December 31, 2015 are presented in the table below. Fair Value of Financial Instruments September 30, 2016 December 31, 2015 Fair Value Fair Value (Dollars in millions) Carrying Value Level 2 Level 3 Total Carrying Value Level 2 Level 3 Total Financial assets Loans $ 872,148 $ 74,098 $ 817,756 $ 891,854 $ 863,561 $ 70,223 $ 805,371 $ 875,594 Loans held-for-sale 10,586 9,627 959 10,586 7,453 5,347 2,106 7,453 Financial liabilities Deposits $ 1,232,895 $ 1,233,110 $ — $ 1,233,110 $ 1,197,259 $ 1,197,577 $ — $ 1,197,577 Long-term debt 225,136 227,794 1,934 229,728 236,764 239,596 1,513 241,109 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 $985 million and $5.0 billion at September 30, 2016 , and $1.3 billion and $6.3 billion at December 31, 2015 . 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 10 – Commitments and Contingencies . |
Mortgage Servicing Rights
Mortgage Servicing Rights | 9 Months Ended |
Sep. 30, 2016 | |
Transfers and Servicing [Abstract] | |
Mortgage Servicing Rights | NOTE 17 – Mortgage Servicing Rights The Corporation accounts for consumer MSRs at fair value, with changes in fair value primarily recorded in mortgage banking income in the Consolidated Statement of Income. The Corporation manages the risk in these MSRs with derivatives such as options and interest rate swaps, which are not designated as accounting hedges, as well as securities including MBS and U.S. Treasury securities. 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 mortgage and home equity MSRs for the three and nine months ended September 30, 2016 and 2015 . Rollforward of Mortgage Servicing Rights Three Months Ended Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Balance, beginning of period $ 2,269 $ 3,521 $ 3,087 $ 3,530 Additions 101 185 307 568 Sales — (87 ) — (399 ) Amortization of expected cash flows (1) (206 ) (213 ) (622 ) (666 ) Changes in fair value due to changes in inputs and assumptions (2) 313 (363 ) (295 ) 10 Balance, September 30 (3) $ 2,477 $ 3,043 $ 2,477 $ 3,043 Mortgage loans serviced for investors (in billions) $ 355 $ 408 $ 355 $ 408 (1) Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. (2) These amounts reflect the changes in modeled MSR fair value due to observed changes in interest rates, volatility, spreads, and the shape of the forward swap curve; periodic adjustments to valuation based on third-party price discovery; and periodic adjustments to the valuation model and other cash flow assumptions. (3) At September 30, 2016 , includes the $1.8 billion core MSR portfolio held in Consumer Banking , the $226 million non-core MSR portfolio held in All Other and the $466 million non-U.S. MSR portfolio held in Global Markets compared to $2.3 billion , $418 million and $344 million at September 30, 2015, respectively. The Corporation revised certain MSR valuation assumptions during the three months ended September 30, 2016 , resulting in a net $282 million increase in fair value, which is included within “Changes in fair value due to changes in inputs and assumptions” in the table above. The increase was primarily driven by changes in prepayment assumptions based on recent observed differences between modeled and actual prepayment behavior, which had the impact of slowing the weighted-average rate of projected prepayments, thus increasing both the weighted-average life of the MSRs and the yield that a market participant would require to buy the MSR. The Corporation primarily uses an option-adjusted spread (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. Weighted-average OAS levels for MSRs associated with fixed and adjustable-rate loans were 9.90 percent and 12.29 percent at September 30, 2016 and 4.62 percent and 7.61 percent at December 31, 2015 . Weighted-average lives of the MSRs associated with fixed and adjustable-rate loans were 4.70 years and 3.44 years at September 30, 2016 and 4.46 years and 3.43 years at December 31, 2015 . The weighted-average life is not an input in the valuation model, but is a product of changes in both market rates of interest and 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 fair value of the MSRs. The weighted-average lives and fair value of MSRs are sensitive to changes in modeled assumptions. For example, a 10 percent or 20 percent decrease in prepayment rates could result in an increase in fair value of $125 million or $262 million , while a 10 percent or 20 percent increase in prepayment rates could result in a decrease in fair value of $113 million or $217 million . A 100 basis points (bps) or 200 bps decrease in OAS levels could result in an increase in fair value of $80 million or $167 million , while a 100 bps or 200 bps increase in OAS levels could result in a decrease in fair value of $75 million or $145 million . These sensitivities are hypothetical and actual amounts may vary materially. 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. In addition, these sensitivities do not reflect any hedge strategies that may be undertaken to mitigate such risk. |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Business Segment Information | NOTE 18 – Business Segment Information The Corporation reports its results of operations through the following four business segments: Consumer Banking , GWIM , Global Banking and Global Markets , with the remaining operations recorded in All Other . For additional information, see Note 24 – Business Segment Information to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . The table below presents net income (loss) and the components thereto (with net interest income on an FTE basis) for the three and nine months ended September 30, 2016 and 2015 , and total assets at September 30, 2016 and 2015 for each business segment, as well as All Other . Results of Business Segments and All Other At and for the Three Months Ended September 30 Total Corporation (1) Consumer Banking (Dollars in millions) 2016 2015 2016 2015 Net interest income (FTE basis) $ 10,429 $ 10,127 $ 5,290 $ 5,093 Noninterest income 11,434 11,092 2,678 2,888 Total revenue, net of interest expense (FTE basis) 21,863 21,219 7,968 7,981 Provision for credit losses 850 806 698 523 Noninterest expense 13,481 13,939 4,371 4,711 Income before income taxes (FTE basis) 7,532 6,474 2,899 2,747 Income tax expense (FTE basis) 2,577 1,855 1,086 990 Net income $ 4,955 $ 4,619 $ 1,813 $ 1,757 Period-end total assets $ 2,195,314 $ 2,152,962 $ 687,247 $ 625,158 Global Wealth & Investment Management Global Banking 2016 2015 2016 2015 Net interest income (FTE basis) $ 1,394 $ 1,360 $ 2,470 $ 2,315 Noninterest income 2,985 3,093 2,278 2,021 Total revenue, net of interest expense (FTE basis) 4,379 4,453 4,748 4,336 Provision for credit losses 7 (2 ) 118 181 Noninterest expense 3,257 3,470 2,151 2,161 Income before income taxes (FTE basis) 1,115 985 2,479 1,994 Income tax expense (FTE basis) 418 353 926 716 Net income $ 697 $ 632 $ 1,553 $ 1,278 Period-end total assets $ 289,795 $ 279,237 $ 397,795 $ 376,379 Global Markets All Other 2016 2015 2016 2015 Net interest income (FTE basis) $ 1,119 $ 1,094 $ 156 $ 265 Noninterest income 3,240 2,656 253 434 Total revenue, net of interest expense (FTE basis) 4,359 3,750 409 699 Provision for credit losses 19 42 8 62 Noninterest expense 2,658 2,697 1,044 900 Income (loss) before income taxes (FTE basis) 1,682 1,011 (643 ) (263 ) Income tax expense (benefit) (FTE basis) 608 211 (461 ) (415 ) Net income (loss) $ 1,074 $ 800 $ (182 ) $ 152 Period-end total assets $ 595,165 $ 576,461 $ 225,312 $ 295,727 (1) There were no material intersegment revenues. Results of Business Segments and All Other At and for the Nine Months Ended September 30 Total Corporation (1) Consumer Banking (Dollars in millions) 2016 2015 2016 2015 Net interest income (FTE basis) $ 31,470 $ 29,936 $ 15,825 $ 15,199 Noninterest income 32,907 34,111 7,795 8,314 Total revenue, net of interest expense (FTE basis) 64,377 64,047 23,620 23,513 Provision for credit losses 2,823 2,351 1,955 1,662 Noninterest expense 41,790 43,724 13,324 14,079 Income before income taxes (FTE basis) 19,764 17,972 8,341 7,772 Income tax expense (FTE basis) 6,554 5,420 3,088 2,859 Net income $ 13,210 $ 12,552 $ 5,253 $ 4,913 Period-end total assets $ 2,195,314 $ 2,152,962 $ 687,247 $ 625,158 Global Wealth & Global Banking 2016 2015 2016 2015 Net interest income (FTE basis) $ 4,310 $ 4,081 $ 7,439 $ 6,788 Noninterest income 8,963 9,475 6,457 6,272 Total revenue, net of interest expense (FTE basis) 13,273 13,556 13,896 13,060 Provision for credit losses 46 36 870 454 Noninterest expense 9,822 10,446 6,449 6,396 Income before income taxes (FTE basis) 3,405 3,074 6,577 6,210 Income tax expense (FTE basis) 1,267 1,130 2,435 2,286 Net income $ 2,138 $ 1,944 $ 4,142 $ 3,924 Period-end total assets $ 289,795 $ 279,237 $ 397,795 $ 376,379 Global Markets All Other 2016 2015 2016 2015 Net interest income (FTE basis) $ 3,391 $ 3,059 $ 505 $ 809 Noninterest income 9,227 8,837 465 1,213 Total revenue, net of interest expense (FTE basis) 12,618 11,896 970 2,022 Provision for credit losses 23 69 (71 ) 130 Noninterest expense 7,690 8,606 4,505 4,197 Income (loss) before income taxes (FTE basis) 4,905 3,221 (3,464 ) (2,305 ) Income tax expense (benefit) (FTE basis) 1,746 968 (1,982 ) (1,823 ) Net income (loss) $ 3,159 $ 2,253 $ (1,482 ) $ (482 ) Period-end total assets $ 595,165 $ 576,461 $ 225,312 $ 295,727 (1) There were no material intersegment revenues. The table below presents a reconciliation of the four business segments' total revenue, net of interest expense, on an 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) 2016 2015 2016 2015 Segments' total revenue, net of interest expense (FTE basis) $ 21,454 $ 20,520 $ 63,407 $ 62,025 Adjustments: ALM activities (46 ) 336 (20 ) 453 Liquidating businesses and other 455 363 990 1,569 FTE basis adjustment (228 ) (227 ) (666 ) (664 ) Consolidated revenue, net of interest expense $ 21,635 $ 20,992 $ 63,711 $ 63,383 Segments' total net income $ 5,137 $ 4,467 $ 14,692 $ 13,034 Adjustments, net-of-taxes: ALM activities (138 ) 71 (349 ) (140 ) Liquidating businesses and other (44 ) 81 (1,133 ) (342 ) Consolidated net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 September 30 2016 2015 Segments' total assets $ 1,970,002 $ 1,857,235 Adjustments: ALM activities, including securities portfolio 616,804 610,525 Liquidating businesses and other 116,989 147,140 Elimination of segment asset allocations to match liabilities (508,481 ) (461,938 ) Consolidated total assets $ 2,195,314 $ 2,152,962 |
Summary of Significant Accoun26
Summary of Significant Accounting Principles (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Consolidation | 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. 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 other income. |
Basis of Accounting | The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. The Corporation's Annual Report on Form 10-K for the year ended December 31, 2015 as supplemented by a Current Report on Form 8-K filed on August 1, 2016 to reflect reclassified business segment information is referred to herein as the 2015 Annual Report on Form 10-K. These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of the Corporation's 2015 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 | In August 2016, the FASB issued new accounting guidance that addresses classification of certain cash receipts and cash payments in the statement of cash flows. The new guidance is effective on January 1, 2018, on a retrospective basis, with early adoption permitted. This new accounting guidance will result in some changes in classification in the Consolidated Statement of Cash Flows, which the Corporation does not expect will be significant, and will not have any impact on its consolidated financial position or results of operations. In June 2016, the FASB issued new accounting guidance that will require the earlier recognition of credit losses on loans and other financial instruments based on an expected loss model, replacing the incurred loss model that is currently in use. Under the new guidance, an entity will measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity (HTM) debt securities and other debt instruments measured at amortized cost. The impairment model for available-for-sale (AFS) debt securities will require the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. The new guidance is effective on January 1, 2020, with early adoption permitted on January 1, 2019. The Corporation is in the process of evaluating the impact of the provisions of this new accounting guidance, which at the date of adoption will increase the allowance for credit losses with a resulting negative adjustment to retained earnings. In March 2016, the FASB issued new accounting guidance that simplifies certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective on January 1, 2017, with early adoption permitted. The Corporation does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. In February 2016, the FASB issued new accounting guidance that requires substantially all leases to be recorded as assets and liabilities on the balance sheet. This new accounting guidance is effective on January 1, 2019, with early adoption permitted. Upon adoption, the Corporation will record a right of use asset and a lease payment obligation associated with arrangements previously accounted for as operating leases. The Corporation is in the process of evaluating the impact of the provisions of this new accounting guidance on its consolidated financial position, but does not expect the new accounting guidance to have a material impact on its consolidated financial position or results of operations. In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The new guidance makes targeted changes to existing GAAP including, among other provisions, requiring certain equity investments to be measured at fair value with changes in fair value reported in earnings and requiring changes in instrument-specific credit risk (i.e., debit valuation adjustments (DVA)) for financial liabilities recorded at fair value under the fair value option to be reported in OCI. The accounting for DVA related to other financial liabilities, for example, derivatives, does not change. The new guidance is effective on January 1, 2018, with early adoption permitted for the provisions related to DVA. In 2015, the Corporation early adopted, retrospective to January 1, 2015, the provisions of this new accounting guidance related to DVA on financial liabilities accounted for under the fair value option. The Corporation does not expect the provisions of this new accounting guidance other than those related to DVA, as described above, to have a material impact on its consolidated financial position or results of operations. In May 2014, the FASB issued new accounting guidance to clarify the principles for recognizing revenue from contracts with customers. This new accounting guidance, which does not apply to financial instruments, is effective on January 1, 2018. The Corporation does not expect the provisions of this new accounting guidance to have a material impact on its consolidated financial position or results of operations. |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 . 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, 2016 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Hedges Total Trading and Other Risk Management Derivatives Qualifying Hedges Total Interest rate contracts Swaps $ 17,341.7 $ 548.5 $ 10.0 $ 558.5 $ 548.0 $ 0.8 $ 548.8 Futures and forwards 6,196.4 1.3 — 1.3 1.3 — 1.3 Written options 1,287.7 — — — 73.4 — 73.4 Purchased options 1,343.3 73.5 — 73.5 — — — Foreign exchange contracts Swaps 1,949.9 41.4 1.2 42.6 44.3 2.9 47.2 Spot, futures and forwards 4,191.7 41.1 1.5 42.6 41.1 0.8 41.9 Written options 376.2 — — — 8.0 — 8.0 Purchased options 355.0 7.6 — 7.6 — — — Equity contracts Swaps 194.4 3.1 — 3.1 3.5 — 3.5 Futures and forwards 79.7 1.6 — 1.6 1.1 — 1.1 Written options 463.2 — — — 25.7 — 25.7 Purchased options 417.9 24.9 — 24.9 — — — Commodity contracts Swaps 48.9 2.8 — 2.8 5.3 — 5.3 Futures and forwards 50.5 3.5 — 3.5 0.4 — 0.4 Written options 36.0 — — — 2.6 — 2.6 Purchased options 35.7 2.5 — 2.5 — — — Credit derivatives Purchased credit derivatives: Credit default swaps 811.8 9.1 — 9.1 13.1 — 13.1 Total return swaps/other 31.5 0.2 — 0.2 1.7 — 1.7 Written credit derivatives: Credit default swaps 803.2 13.4 — 13.4 8.2 — 8.2 Total return swaps/other 43.2 1.2 — 1.2 0.4 — 0.4 Gross derivative assets/liabilities $ 775.7 $ 12.7 $ 788.4 $ 778.1 $ 4.5 $ 782.6 Less: Legally enforceable master netting agreements (694.0 ) (694.0 ) Less: Cash collateral received/paid (46.5 ) (45.1 ) Total derivative assets/liabilities $ 47.9 $ 43.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. December 31, 2015 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1, 2) Trading and Other Risk Management Derivatives Qualifying Hedges Total Trading and Other Risk Management Derivatives Qualifying Hedges Total Interest rate contracts Swaps $ 21,706.8 $ 439.6 $ 7.4 $ 447.0 $ 440.8 $ 1.2 $ 442.0 Futures and forwards 6,237.6 1.1 — 1.1 1.3 — 1.3 Written options 1,313.8 — — — 57.6 — 57.6 Purchased options 1,393.3 58.9 — 58.9 — — — Foreign exchange contracts Swaps 2,149.9 49.2 0.9 50.1 52.2 2.8 55.0 Spot, futures and forwards 4,104.3 46.0 1.2 47.2 45.8 0.3 46.1 Written options 467.2 — — — 10.6 — 10.6 Purchased options 439.9 10.2 — 10.2 — — — Equity contracts Swaps 201.2 3.3 — 3.3 3.8 — 3.8 Futures and forwards 72.8 2.1 — 2.1 1.2 — 1.2 Written options 347.6 — — — 21.1 — 21.1 Purchased options 320.3 23.8 — 23.8 — — — Commodity contracts Swaps 47.0 4.7 — 4.7 7.1 — 7.1 Futures and forwards 45.6 3.8 — 3.8 0.7 — 0.7 Written options 36.6 — — — 4.4 — 4.4 Purchased options 37.4 4.2 — 4.2 — — — Credit derivatives Purchased credit derivatives: Credit default swaps 928.3 14.4 — 14.4 14.8 — 14.8 Total return swaps/other 26.4 0.2 — 0.2 1.9 — 1.9 Written credit derivatives: Credit default swaps 924.1 15.3 — 15.3 13.1 — 13.1 Total return swaps/other 39.7 2.3 — 2.3 0.4 — 0.4 Gross derivative assets/liabilities $ 679.1 $ 9.5 $ 688.6 $ 676.8 $ 4.3 $ 681.1 Less: Legally enforceable master netting agreements (2) (596.7 ) (596.7 ) Less: Cash collateral received/paid (41.9 ) (45.9 ) Total derivative assets/liabilities $ 50.0 $ 38.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The notional amount for certain derivatives has been reduced to reflect the impact of legally closed positions, which had no impact on the net fair value. |
Derivative [Line Items] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below summarizes information related to fair value hedges for the three and nine months ended September 30, 2016 and 2015 , including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated at that time. 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 2016 2016 (Dollars in millions) Derivative Hedged Item Hedge Ineffectiveness Derivative Hedged Item Hedge Ineffectiveness Interest rate risk on long-term debt (1) $ (758 ) $ 580 $ (178 ) $ 3,166 $ (3,654 ) $ (488 ) Interest rate and foreign currency risk on long-term debt (1) 16 (10 ) 6 360 (369 ) (9 ) Interest rate risk on available-for-sale securities (2) 235 (250 ) (15 ) (131 ) 80 (51 ) Price risk on commodity inventory (3) 6 (6 ) — — — — Total $ (501 ) $ 314 $ (187 ) $ 3,395 $ (3,943 ) $ (548 ) 2015 2015 Interest rate risk on long-term debt (1) $ 1,921 $ (2,111 ) $ (190 ) $ 724 $ (1,362 ) $ (638 ) Interest rate and foreign currency risk on long-term debt (1) (138 ) 125 (13 ) (1,394 ) 1,311 (83 ) Interest rate risk on available-for-sale securities (2) (6 ) (1 ) (7 ) 39 (49 ) (10 ) Price risk on commodity inventory (3) 2 (2 ) — 15 (11 ) 4 Total $ 1,779 $ (1,989 ) $ (210 ) $ (616 ) $ (111 ) $ (727 ) (1) Amounts are recorded in interest expense on long-term debt and in other income. (2) Amounts are recorded in interest income on debt securities. (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, 2016 and 2015 . Of the $800 million after-tax net loss ( $1.3 billion on a pretax basis) on derivatives in accumulated OCI at September 30, 2016 , $245 million after-tax ( $392 million on a pretax basis) is expected to be reclassified into earnings in the next 12 months. These net losses reclassified into earnings are expected to primarily reduce net interest income related to the respective hedged items. Amounts related to price risk on restricted stock awards reclassified from accumulated OCI are recorded in personnel expense. For terminated cash flow hedges, the time period over which substantially all of the forecasted transactions are hedged is approximately seven years , with a maximum length of time for certain forecasted transactions of 20 years . Derivatives Designated as Cash Flow and Net Investment Hedges Three Months Ended September 30 Nine Months Ended September 30 2016 2016 (Dollars in millions, amounts pretax) 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 $ (8 ) $ (119 ) $ (4 ) $ 50 $ (447 ) $ 2 Price risk on restricted stock awards (2) 85 (8 ) — (114 ) (61 ) — Total $ 77 $ (127 ) $ (4 ) $ (64 ) $ (508 ) $ 2 Net investment hedges Foreign exchange risk $ 214 $ 2 $ (68 ) $ 173 $ 3 $ (234 ) 2015 2015 Cash flow hedges Interest rate risk on variable-rate portfolios $ 94 $ (254 ) $ 4 $ 99 $ (768 ) $ 3 Price risk on restricted stock awards (2) (112 ) 30 — (141 ) 57 — Total $ (18 ) $ (224 ) $ 4 $ (42 ) $ (711 ) $ 3 Net investment hedges Foreign exchange risk $ 1,407 $ 14 $ (98 ) $ 2,397 $ 98 $ (185 ) (1) Amounts related to cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing. (2) The hedge gain (loss) recognized in accumulated OCI is primarily related to the change in the Corporation's stock price for the period. |
Other Risk Management Derivatives | The table below presents gains (losses) on these derivatives for the three and nine months ended September 30, 2016 and 2015 . 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) 2016 2015 2016 2015 Interest rate risk on mortgage banking income (1) $ 57 $ 474 $ 882 $ 380 Credit risk on loans (2) (7 ) 24 (103 ) (34 ) Interest rate and foreign currency risk on ALM activities (3) (262 ) (527 ) (1,970 ) (202 ) Price risk on restricted stock awards (4) 199 (229 ) (569 ) (473 ) Other — 22 40 15 (1) Net gains (losses) on these derivatives are recorded in mortgage banking income as they are used to mitigate the interest rate risk related to MSRs, interest rate lock commitments (IRLCs) and mortgage loans held-for-sale (LHFS), all of which are measured at fair value with changes in fair value recorded in mortgage banking income. The net gains on IRLCs related to the origination of mortgage loans that are held-for-sale, which are not included in the table but are considered derivative instruments, were $185 million and $514 million for the three and nine months ended September 30, 2016 compared to $184 million and $611 million for the same periods in 2015 . (2) Primarily related to derivatives that are economic hedges of credit risk on loans. Net gains (losses) on these derivatives are recorded in other income. (3) Primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Gains (losses) on these derivatives and the related hedged items are recorded in other income. (4) 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, 2016 and 2015 . 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 and funding valuation adjustment (DVA/FVA) gains (losses). Global Markets results in Note 18 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on an FTE basis. Sales and Trading Revenue Three Months Ended September 30 Nine Months Ended September 30 2016 2016 (Dollars in millions) Trading Account Profits Net Interest Income Other (1) Total Trading Net Interest Income Other (1) Total Interest rate risk $ 514 $ 304 $ 82 $ 900 $ 1,438 $ 1,063 $ 207 $ 2,708 Foreign exchange risk 319 (4 ) (39 ) 276 1,003 (7 ) (111 ) 885 Equity risk 461 30 467 958 1,478 11 1,574 3,063 Credit risk 597 639 123 1,359 1,218 1,910 380 3,508 Other risk 43 7 10 60 264 (19 ) 35 280 Total sales and trading revenue $ 1,934 $ 976 $ 643 $ 3,553 $ 5,401 $ 2,958 $ 2,085 $ 10,444 2015 2015 Interest rate risk $ 405 $ 333 $ 50 $ 788 $ 1,269 $ 924 $ (327 ) $ 1,866 Foreign exchange risk 310 (4 ) (36 ) 270 1,052 (6 ) (99 ) 947 Equity risk 558 38 547 1,143 1,795 15 1,638 3,448 Credit risk 84 614 99 797 825 1,776 406 3,007 Other risk 114 (24 ) 24 114 371 (62 ) 51 360 Total sales and trading revenue $ 1,471 $ 957 $ 684 $ 3,112 $ 5,312 $ 2,647 $ 1,669 $ 9,628 (1) Represents amounts in investment and brokerage services and other income that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $485 million and $1.6 billion for the three and nine months ended September 30, 2016 and $568 million and $1.7 billion for the same periods in 2015 . |
Disclosure of Credit Derivatives | Credit derivative instruments where the Corporation is the seller of credit protection and their expiration are summarized 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. The Corporation discloses internal categorizations of investment grade and non-investment grade consistent with how risk is managed for these instruments. Credit Derivative Instruments September 30, 2016 Carrying Value (Dollars in millions) Less than One Year One to Three Years Three to Five Years Over Five Years Total Credit default swaps: Investment grade $ 22 $ 59 $ 526 $ 918 $ 1,525 Non-investment grade 461 1,241 1,175 3,797 6,674 Total 483 1,300 1,701 4,715 8,199 Total return swaps/other: Investment grade 13 — — — 13 Non-investment grade 305 27 2 3 337 Total 318 27 2 3 350 Total credit derivatives $ 801 $ 1,327 $ 1,703 $ 4,718 $ 8,549 Credit-related notes: Investment grade $ 1 $ 57 $ 589 $ 1,486 $ 2,133 Non-investment grade 55 58 85 1,204 1,402 Total credit-related notes $ 56 $ 115 $ 674 $ 2,690 $ 3,535 Maximum Payout/Notional Credit default swaps: Investment grade $ 156,227 $ 210,797 $ 142,483 $ 33,151 $ 542,658 Non-investment grade 86,898 97,759 53,549 22,347 260,553 Total 243,125 308,556 196,032 55,498 803,211 Total return swaps/other: Investment grade 12,623 — — — 12,623 Non-investment grade 24,299 5,485 591 230 30,605 Total 36,922 5,485 591 230 43,228 Total credit derivatives $ 280,047 $ 314,041 $ 196,623 $ 55,728 $ 846,439 December 31, 2015 Carrying Value Credit default swaps: Investment grade $ 84 $ 481 $ 2,203 $ 680 $ 3,448 Non-investment grade 672 3,035 2,386 3,583 9,676 Total 756 3,516 4,589 4,263 13,124 Total return swaps/other: Investment grade 5 — — — 5 Non-investment grade 171 236 8 2 417 Total 176 236 8 2 422 Total credit derivatives $ 932 $ 3,752 $ 4,597 $ 4,265 $ 13,546 Credit-related notes: Investment grade $ 267 $ 57 $ 444 $ 2,203 $ 2,971 Non-investment grade 61 118 117 1,264 1,560 Total credit-related notes $ 328 $ 175 $ 561 $ 3,467 $ 4,531 Maximum Payout/Notional Credit default swaps: Investment grade $ 149,177 $ 280,658 $ 178,990 $ 26,352 $ 635,177 Non-investment grade 81,596 135,850 53,299 18,221 288,966 Total 230,773 416,508 232,289 44,573 924,143 Total return swaps/other: Investment grade 9,758 — — — 9,758 Non-investment grade 20,917 6,989 1,371 623 29,900 Total 30,675 6,989 1,371 623 39,658 Total credit derivatives $ 261,448 $ 423,497 $ 233,660 $ 45,196 $ 963,801 |
Additional Collateral Required Upon Downgrade | The table below presents the amount of additional collateral that would have been contractually required by derivative contracts and other trading agreements at September 30, 2016 if the rating agencies had downgraded their long-term senior debt ratings for the Corporation or certain subsidiaries by one incremental notch and by an additional second incremental notch. Additional Collateral Required to Be Posted Upon Downgrade September 30, 2016 (Dollars in millions) One incremental notch Second incremental notch Bank of America Corporation $ 792 $ 2,506 Bank of America, N.A. and subsidiaries (1) 611 2,045 (1) Included in Bank of America Corporation collateral requirements in this table. |
Derivative Liabilities Subject to Unilateral Termination Upon Downgrade | The table below presents the derivative liabilities that would be subject to unilateral termination by counterparties and the amounts of collateral that would have been contractually required at September 30, 2016 if the long-term senior debt ratings for the Corporation or certain subsidiaries had been lower by one incremental notch and by an additional second incremental notch. Derivative Liabilities Subject to Unilateral Termination Upon Downgrade September 30, 2016 (Dollars in millions) One incremental notch Second incremental notch Derivative liabilities $ 1,014 $ 3,935 Collateral posted 703 3,649 |
Valuation Adjustments on Derivatives | The table below presents credit valuation adjustment (CVA), DVA and FVA gains (losses) on derivatives, which are recorded in trading account profits, on a gross and net of hedge basis for the three and nine months ended September 30, 2016 and 2015 . For more information on the valuation adjustments on derivatives, see Note 2 – Derivatives to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K Valuation Adjustments on Derivatives Gains (Losses) Three Months Ended September 30 Nine Months Ended September 30 2016 2015 2016 2015 (Dollars in millions) Gross Net Gross Net Gross Net Gross Net Derivative assets (CVA) (1) $ 280 $ 66 $ (138 ) $ 67 $ 45 $ 151 $ 85 $ 174 Derivative assets/liabilities (FVA) (1) 42 51 (48 ) (48 ) 9 20 17 17 Derivative liabilities (DVA) (1) (125 ) (103 ) 132 66 106 (60 ) 141 16 (1) At September 30, 2016 and December 31, 2015 , cumulative CVA reduced the derivative assets balance by $1.3 billion and $1.4 billion , cumulative FVA reduced the net derivative assets balance by $472 million and $481 million , and cumulative DVA reduced the derivative liabilities balance by $856 million and $750 million , respectively. |
Derivative | |
Derivative [Line Items] | |
Offsetting Liabilities | Offsetting of Derivatives September 30, 2016 December 31, 2015 (Dollars in billions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Interest rate contracts Over-the-counter $ 370.8 $ 359.1 $ 309.3 $ 297.2 Over-the-counter cleared 258.5 259.8 197.0 201.7 Foreign exchange contracts Over-the-counter 89.5 94.0 103.2 107.5 Over-the-counter cleared 0.4 0.3 0.1 0.1 Equity contracts Over-the-counter 15.1 13.5 16.6 14.0 Exchange-traded (1) 11.6 14.3 10.0 9.2 Commodity contracts Over-the-counter 4.1 5.4 7.3 8.9 Exchange-traded (1) 1.3 1.4 1.8 1.8 Over-the-counter cleared — — 0.1 0.1 Credit derivatives Over-the-counter 17.3 17.0 24.6 22.9 Over-the-counter cleared 5.9 5.8 6.5 6.4 Total gross derivative assets/liabilities, before netting Over-the-counter 496.8 489.0 461.0 450.5 Exchange-traded (1) 12.9 15.7 11.8 11.0 Over-the-counter cleared 264.8 265.9 203.7 208.3 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (466.4 ) (463.6 ) (426.6 ) (425.7 ) Exchange-traded (1) (9.7 ) (9.7 ) (8.7 ) (8.7 ) Over-the-counter cleared (264.4 ) (265.8 ) (203.3 ) (208.2 ) Derivative assets/liabilities, after netting 34.0 31.5 37.9 27.2 Other gross derivative assets/liabilities 13.9 12.0 12.1 11.3 Total derivative assets/liabilities 47.9 43.5 50.0 38.5 Less: Financial instruments collateral (2) (14.6 ) (14.1 ) (13.9 ) (6.5 ) Total net derivative assets/liabilities $ 33.3 $ 29.4 $ 36.1 $ 32.0 (1) The notional amount for certain derivatives has been reduced to reflect the impact of legally closed positions, which had no impact on the net fair value. (2) These amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged. |
Offsetting Assets | Offsetting of Derivatives September 30, 2016 December 31, 2015 (Dollars in billions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Interest rate contracts Over-the-counter $ 370.8 $ 359.1 $ 309.3 $ 297.2 Over-the-counter cleared 258.5 259.8 197.0 201.7 Foreign exchange contracts Over-the-counter 89.5 94.0 103.2 107.5 Over-the-counter cleared 0.4 0.3 0.1 0.1 Equity contracts Over-the-counter 15.1 13.5 16.6 14.0 Exchange-traded (1) 11.6 14.3 10.0 9.2 Commodity contracts Over-the-counter 4.1 5.4 7.3 8.9 Exchange-traded (1) 1.3 1.4 1.8 1.8 Over-the-counter cleared — — 0.1 0.1 Credit derivatives Over-the-counter 17.3 17.0 24.6 22.9 Over-the-counter cleared 5.9 5.8 6.5 6.4 Total gross derivative assets/liabilities, before netting Over-the-counter 496.8 489.0 461.0 450.5 Exchange-traded (1) 12.9 15.7 11.8 11.0 Over-the-counter cleared 264.8 265.9 203.7 208.3 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (466.4 ) (463.6 ) (426.6 ) (425.7 ) Exchange-traded (1) (9.7 ) (9.7 ) (8.7 ) (8.7 ) Over-the-counter cleared (264.4 ) (265.8 ) (203.3 ) (208.2 ) Derivative assets/liabilities, after netting 34.0 31.5 37.9 27.2 Other gross derivative assets/liabilities 13.9 12.0 12.1 11.3 Total derivative assets/liabilities 47.9 43.5 50.0 38.5 Less: Financial instruments collateral (2) (14.6 ) (14.1 ) (13.9 ) (6.5 ) Total net derivative assets/liabilities $ 33.3 $ 29.4 $ 36.1 $ 32.0 (1) The notional amount for certain derivatives has been reduced to reflect the impact of legally closed positions, which had no impact on the net fair value. (2) These amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | The table below presents the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value, HTM debt securities and AFS marketable equity securities at September 30, 2016 and December 31, 2015 . For information on the Corporation's change in accounting method for amortization of premiums and accretion of discounts on certain debt securities, see Note 1 – Summary of Significant Accounting Principles . Debt Securities and Available-for-Sale Marketable Equity Securities September 30, 2016 (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale debt securities Mortgage-backed securities: Agency $ 196,808 $ 4,266 $ (23 ) $ 201,051 Agency-collateralized mortgage obligations 8,862 243 (24 ) 9,081 Commercial 12,555 383 (2 ) 12,936 Non-agency residential (1) 1,476 180 (38 ) 1,618 Total mortgage-backed securities 219,701 5,072 (87 ) 224,686 U.S. Treasury and agency securities 44,925 363 (4 ) 45,284 Non-U.S. securities 5,995 19 (4 ) 6,010 Other taxable securities, substantially all asset-backed securities 9,375 73 (32 ) 9,416 Total taxable securities 279,996 5,527 (127 ) 285,396 Tax-exempt securities 15,917 97 (30 ) 15,984 Total available-for-sale debt securities 295,913 5,624 (157 ) 301,380 Other debt securities carried at fair value 21,222 114 (211 ) 21,125 Total debt securities carried at fair value 317,135 5,738 (368 ) 322,505 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 112,409 1,647 (91 ) 113,965 Total debt securities (2) $ 429,544 $ 7,385 $ (459 ) $ 436,470 Available-for-sale marketable equity securities (3) $ 325 $ 57 $ (28 ) $ 354 December 31, 2015 Available-for-sale debt securities Mortgage-backed securities: Agency $ 229,356 $ 1,061 $ (1,470 ) $ 228,947 Agency-collateralized mortgage obligations 10,892 148 (55 ) 10,985 Commercial 7,200 30 (65 ) 7,165 Non-agency residential (1) 3,031 219 (71 ) 3,179 Total mortgage-backed securities 250,479 1,458 (1,661 ) 250,276 U.S. Treasury and agency securities 25,075 211 (9 ) 25,277 Non-U.S. securities 5,743 27 (3 ) 5,767 Other taxable securities, substantially all asset-backed securities 10,475 54 (84 ) 10,445 Total taxable securities 291,772 1,750 (1,757 ) 291,765 Tax-exempt securities 13,978 63 (33 ) 14,008 Total available-for-sale debt securities 305,750 1,813 (1,790 ) 305,773 Other debt securities carried at fair value 16,678 103 (174 ) 16,607 Total debt securities carried at fair value 322,428 1,916 (1,964 ) 322,380 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 84,508 330 (792 ) 84,046 Total debt securities (2) $ 406,936 $ 2,246 $ (2,756 ) $ 406,426 Available-for-sale marketable equity securities (3) $ 326 $ 99 $ — $ 425 (1) At September 30, 2016 and December 31, 2015 , the underlying collateral type included approximately 57 percent and 71 percent prime, 25 percent and 15 percent Alt-A, and 18 percent and 14 percent subprime. (2) The Corporation had debt securities from Fannie Mae (FNMA) and Freddie Mac (FHLMC) that each exceeded 10 percent of shareholders' equity, with an amortized cost of $154.7 billion and $51.1 billion , and a fair value of $158.0 billion and $52.4 billion at September 30, 2016 . Debt securities from FNMA and FHLMC that exceeded 10 percent of shareholders' equity had an amortized cost of $145.8 billion and $53.3 billion , and a fair value of $145.5 billion and $53.2 billion at December 31, 2015 . (3) 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. In the three and nine months ended September 30, 2016 , the Corporation recorded unrealized mark-to-market net gains of $47 million and net losses of $25 million , and realized net losses of $28 million and $65 million , compared to unrealized mark-to-market net gains of $212 million and $57 million , and realized net losses of $147 million and $168 million , for the same periods in 2015 . These amounts exclude hedge results. Other Debt Securities Carried at Fair Value (Dollars in millions) September 30 December 31 Mortgage-backed securities: Agency-collateralized mortgage obligations $ 6 $ 7 Non-agency residential 3,193 3,490 Total mortgage-backed securities 3,199 3,497 Non-U.S. securities (1) 17,680 12,843 Other taxable securities, substantially all asset-backed securities 246 267 Total $ 21,125 $ 16,607 (1) These securities are primarily used to satisfy certain international regulatory liquidity requirements. |
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, 2016 and 2015 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) 2016 2015 2016 2015 Gross gains $ 57 $ 441 $ 513 $ 899 Gross losses (6 ) (4 ) (23 ) (13 ) Net gains on sales of AFS debt securities $ 51 $ 437 $ 490 $ 886 Income tax expense attributable to realized net gains on sales of AFS debt securities $ 19 $ 166 $ 186 $ 337 |
Amortized Cost and Fair Value of Corporations Investment | The table below presents the fair value and the associated gross unrealized losses on AFS debt securities and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer at September 30, 2016 and December 31, 2015 . Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities September 30, 2016 Less than Twelve Months Twelve Months or Longer Total (Dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Temporarily impaired AFS debt securities Mortgage-backed securities: Agency $ 1,591 $ (2 ) $ 4,105 $ (21 ) $ 5,696 $ (23 ) Agency-collateralized mortgage obligations 604 (3 ) 1,133 (21 ) 1,737 (24 ) Commercial 941 (2 ) — — 941 (2 ) Non-agency residential — — 237 (16 ) 237 (16 ) Total mortgage-backed securities 3,136 (7 ) 5,475 (58 ) 8,611 (65 ) U.S. Treasury and agency securities 2,213 (4 ) — — 2,213 (4 ) Non-U.S. securities 273 (1 ) 133 (3 ) 406 (4 ) Other taxable securities, substantially all asset-backed securities 3,499 (8 ) 1,448 (24 ) 4,947 (32 ) Total taxable securities 9,121 (20 ) 7,056 (85 ) 16,177 (105 ) Tax-exempt securities 2,731 (11 ) 1,077 (19 ) 3,808 (30 ) Total temporarily impaired AFS debt securities 11,852 (31 ) 8,133 (104 ) 19,985 (135 ) Other-than-temporarily impaired AFS debt securities (1) Non-agency residential mortgage-backed securities 21 (1 ) 387 (21 ) 408 (22 ) Total temporarily impaired and other-than-temporarily impaired AFS debt securities $ 11,873 $ (32 ) $ 8,520 $ (125 ) $ 20,393 $ (157 ) December 31, 2015 Temporarily impaired AFS debt securities Mortgage-backed securities: Agency $ 115,502 $ (1,082 ) $ 13,083 $ (388 ) $ 128,585 $ (1,470 ) Agency-collateralized mortgage obligations 2,536 (19 ) 1,212 (36 ) 3,748 (55 ) Commercial 4,587 (65 ) — — 4,587 (65 ) Non-agency residential 553 (5 ) 723 (33 ) 1,276 (38 ) Total mortgage-backed securities 123,178 (1,171 ) 15,018 (457 ) 138,196 (1,628 ) U.S. Treasury and agency securities 1,172 (5 ) 190 (4 ) 1,362 (9 ) Non-U.S. securities — — 134 (3 ) 134 (3 ) Other taxable securities, substantially all asset-backed securities 4,936 (67 ) 869 (17 ) 5,805 (84 ) Total taxable securities 129,286 (1,243 ) 16,211 (481 ) 145,497 (1,724 ) Tax-exempt securities 4,400 (12 ) 1,877 (21 ) 6,277 (33 ) Total temporarily impaired AFS debt securities 133,686 (1,255 ) 18,088 (502 ) 151,774 (1,757 ) Other-than-temporarily impaired AFS debt securities (1) Non-agency residential mortgage-backed securities 481 (19 ) 98 (14 ) 579 (33 ) Total temporarily impaired and other-than-temporarily impaired AFS debt securities $ 134,167 $ (1,274 ) $ 18,186 $ (516 ) $ 152,353 $ (1,790 ) (1) Includes other-than-temporarily impaired AFS debt securities on which an other-than-temporary impairment (OTTI) loss, primarily related to changes in interest rates, remains in accumulated OCI. |
Corporation Recorded Other-than-Temporary Impairment Losses on AFS Debt Securities | The Corporation recorded OTTI losses on AFS debt securities for the three and nine months ended September 30, 2016 and 2015 as presented in the Net Credit-related Impairment Losses Recognized in Earnings table. Substantially all OTTI losses in the three and nine months ended September 30, 2016 and 2015 consisted of credit losses on non-agency residential mortgage-backed securities (RMBS) and were recorded in other income in the Consolidated Statement of Income. 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 a debt security 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, accordingly, are recorded in the Consolidated Statement of Income with the remaining unrealized losses recorded in OCI. In certain instances, the credit loss on a debt security may exceed the total impairment, in which case, the excess of the credit loss over the total impairment is recorded as an unrealized gain in OCI. Net Credit-related Impairment Losses Recognized in Earnings Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Total OTTI losses $ (6 ) $ (5 ) $ (27 ) $ (87 ) Less: non-credit portion of total OTTI losses recognized in OCI 4 3 13 10 Net credit-related impairment losses recognized in earnings $ (2 ) $ (2 ) $ (14 ) $ (77 ) The table below presents a rollforward of the credit losses recognized in earnings for the three and nine months ended September 30, 2016 and 2015 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 OTTI Credit Losses Recognized Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Balance, beginning of period $ 246 $ 261 $ 266 $ 200 Additions for credit losses recognized on AFS debt securities that had no previous impairment losses — 1 2 50 Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses 2 — 12 26 Reductions for AFS debt securities matured, sold or intended to be sold — — (32 ) (14 ) Balance, September 30 $ 248 $ 262 $ 248 $ 262 |
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 RMBS were as follows at September 30, 2016 . Significant Assumptions Range (1) Weighted- average 10th Percentile (2) 90th Percentile (2) Annual prepayment speed 14.2 % 4.9 % 28.0 % Loss severity 20.1 8.7 36.8 Life default rate 20.6 0.7 78.2 (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. |
Expected Maturity Distribution | The remaining contractual maturity distribution and yields of the Corporation's debt securities carried at fair value and HTM debt securities at September 30, 2016 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the mortgage or other asset-backed securities are passed through to the Corporation. Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities September 30, 2016 Due in One Year or Less Due after One Year through Five Years Due after Five Years through Ten Years Due after Ten Years Total (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 Mortgage-backed securities: Agency $ 2 5.24 % $ 79 2.99 % $ 405 2.58 % $ 196,322 3.26 % $ 196,808 3.25 % Agency-collateralized mortgage obligations — — — — — — 8,867 3.19 8,867 3.19 Commercial 48 8.56 499 1.89 10,891 2.46 1,117 2.22 12,555 2.44 Non-agency residential — — — — — — 4,767 8.15 4,767 8.15 Total mortgage-backed securities 50 8.43 578 2.04 11,296 2.46 211,073 3.36 222,997 3.31 U.S. Treasury and agency securities 534 0.31 30,312 1.30 13,862 1.51 217 5.46 44,925 1.37 Non-U.S. securities 22,106 0.64 1,035 1.89 262 1.43 264 6.56 23,667 0.77 Other taxable securities, substantially all asset-backed securities 1,818 1.40 4,021 1.65 2,447 2.77 1,343 3.30 9,629 2.12 Total taxable securities 24,508 0.71 35,946 1.37 27,867 2.01 212,897 3.37 301,218 2.78 Tax-exempt securities 1,569 0.99 6,025 1.25 6,402 1.43 1,921 1.35 15,917 1.31 Total amortized cost of debt securities carried at fair value $ 26,077 0.73 $ 41,971 1.35 $ 34,269 1.90 $ 214,818 3.35 $ 317,135 2.71 Amortized cost of HTM debt securities (2) $ — — $ 16 3.54 $ 904 2.40 $ 111,489 3.06 $ 112,409 3.06 Debt securities carried at fair value Mortgage-backed securities: Agency $ 2 $ 54 $ 414 $ 200,581 $ 201,051 Agency-collateralized mortgage obligations — — — 9,087 9,087 Commercial 48 506 11,257 1,125 12,936 Non-agency residential — — — 4,811 4,811 Total mortgage-backed securities 50 560 11,671 215,604 227,885 U.S. Treasury and agency securities 535 30,565 13,947 237 45,284 Non-U.S. securities 22,113 1,040 264 273 23,690 Other taxable securities, substantially all asset-backed securities 1,816 3,982 2,496 1,368 9,662 Total taxable securities 24,514 36,147 28,378 217,482 306,521 Tax-exempt securities 1,570 6,033 6,473 1,908 15,984 Total debt securities carried at fair value $ 26,084 $ 42,180 $ 34,851 $ 219,390 $ 322,505 Fair value of HTM debt securities (2) $ — $ 16 $ 921 $ 113,028 $ 113,965 (1) The average yield is computed based on a constant effective interest rate over the contractual life of each security. The average yield considers the contractual coupon and the amortization of premiums and accretion of discounts, excluding the effect of related hedging derivatives. (2) Substantially all U.S. agency MBS. |
Outstanding Loans and Leases (T
Outstanding Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Schedule of Loans and Leases Outstanding | The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2016 and December 31, 2015 . September 30, 2016 (Dollars in millions) 30-59 Days (1) 60-89 Days (1) 90 Days or Past Due (2) Total Past Due 30 Days or More Total Current or Less Than 30 Days Past Due (3) Purchased (4) Loans Accounted for Under the Fair Value Option Total Consumer real estate Core portfolio Residential mortgage $ 1,100 $ 337 $ 1,244 $ 2,681 $ 147,810 $ 150,491 Home equity 222 107 464 793 50,131 50,924 Non-core portfolio Residential mortgage (5) 1,402 717 5,803 7,922 18,941 $ 10,614 37,477 Home equity 291 137 865 1,293 12,926 3,854 18,073 Credit card and other consumer U.S. credit card 443 314 702 1,459 87,330 88,789 Non-U.S. credit card 32 28 65 125 9,133 9,258 Direct/Indirect consumer (6) 223 62 29 314 92,980 93,294 Other consumer (7) 25 6 4 35 2,354 2,389 Total consumer 3,738 1,708 9,176 14,622 421,605 14,468 450,695 Consumer loans accounted for under the fair value option (8) $ 1,768 1,768 Total consumer loans and leases 3,738 1,708 9,176 14,622 421,605 14,468 1,768 452,463 Commercial U.S. commercial 260 142 310 712 266,307 267,019 Commercial real estate (9) 19 19 38 76 57,227 57,303 Commercial lease financing 63 39 32 134 21,175 21,309 Non-U.S. commercial 1 18 3 22 87,475 87,497 U.S. small business commercial 51 41 79 171 12,906 13,077 Total commercial 394 259 462 1,115 445,090 446,205 Commercial loans accounted for under the fair value option (8) 6,340 6,340 Total commercial loans and leases 394 259 462 1,115 445,090 6,340 452,545 Total loans and leases (10) $ 4,132 $ 1,967 $ 9,638 $ 15,737 $ 866,695 $ 14,468 $ 8,108 $ 905,008 Percentage of outstandings 0.46 % 0.22 % 1.06 % 1.74 % 95.76 % 1.60 % 0.90 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $1.1 billion and nonperforming loans of $306 million . Consumer real estate loans 60-89 days past due includes fully-insured loans of $603 million and nonperforming loans of $233 million . (2) Consumer real estate includes fully-insured loans of $5.1 billion . (3) Consumer real estate includes $2.5 billion and direct/indirect consumer includes $25 million of nonperforming loans. (4) Purchased credit-impaired (PCI) loan amounts are shown gross of the valuation allowance. (5) Total outstandings includes pay option loans of $1.9 billion . The Corporation no longer originates this product. (6) Total outstandings includes auto and specialty lending loans of $47.8 billion , unsecured consumer lending loans of $630 million , U.S. securities-based lending loans of $40.1 billion , non-U.S. consumer loans of $3.1 billion , student loans of $514 million and other consumer loans of $1.1 billion . (7) Total outstandings includes consumer finance loans of $489 million , consumer leases of $1.7 billion and consumer overdrafts of $151 million . (8) Consumer loans accounted for under the fair value option were residential mortgage loans of $1.4 billion and home equity loans of $340 million . Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.6 billion and non-U.S. commercial loans of $3.7 billion . For additional information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option . (9) Total outstandings includes U.S. commercial real estate loans of $53.9 billion and non-U.S. commercial real estate loans of $3.4 billion . (10) The Corporation pledged $146.1 billion of loans to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Banks. This amount is not included in the parenthetical disclosure of loans and leases pledged as collateral on the Consolidated Balance Sheet as there were no related outstanding borrowings. December 31, 2015 (Dollars in millions) 30-59 Days (1) 60-89 Days (1) 90 Days or Past Due (2) Total Past Due 30 Days or More Total Current or Less Than 30 Days Past Due (3) Purchased (4) Loans for Under the Fair Total Consumer real estate Core portfolio Residential mortgage $ 1,214 $ 368 $ 1,414 $ 2,996 $ 138,799 $ 141,795 Home equity 200 93 579 872 54,045 54,917 Non-core portfolio Residential mortgage (5) 2,045 1,167 8,439 11,651 22,399 $ 12,066 46,116 Home equity 335 174 1,170 1,679 14,733 4,619 21,031 Credit card and other consumer U.S. credit card 454 332 789 1,575 88,027 89,602 Non-U.S. credit card 39 31 76 146 9,829 9,975 Direct/Indirect consumer (6) 227 62 42 331 88,464 88,795 Other consumer (7) 18 3 4 25 2,042 2,067 Total consumer 4,532 2,230 12,513 19,275 418,338 16,685 454,298 Consumer loans accounted for under the fair value option (8) $ 1,871 1,871 Total consumer loans and leases 4,532 2,230 12,513 19,275 418,338 16,685 1,871 456,169 Commercial U.S. commercial 444 148 332 924 251,847 252,771 Commercial real estate (9) 36 11 82 129 57,070 57,199 Commercial lease financing 150 29 20 199 21,153 21,352 Non-U.S. commercial 6 1 1 8 91,541 91,549 U.S. small business commercial 83 41 72 196 12,680 12,876 Total commercial 719 230 507 1,456 434,291 435,747 Commercial loans accounted for under the fair value option (8) 5,067 5,067 Total commercial loans and leases 719 230 507 1,456 434,291 5,067 440,814 Total loans and leases (10) $ 5,251 $ 2,460 $ 13,020 $ 20,731 $ 852,629 $ 16,685 $ 6,938 $ 896,983 Percentage of outstandings 0.59 % 0.27 % 1.45 % 2.31 % 95.06 % 1.86 % 0.77 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $1.7 billion and nonperforming loans of $379 million . Consumer real estate loans 60-89 days past due includes fully-insured loans of $1.0 billion and nonperforming loans of $297 million . (2) Consumer real estate includes fully-insured loans of $7.2 billion . (3) Consumer real estate includes $3.0 billion and direct/indirect consumer includes $21 million of nonperforming loans. (4) PCI loan amounts are shown gross of the valuation allowance. (5) Total outstandings includes pay option loans of $2.3 billion . The Corporation no longer originates this product. (6) Total outstandings includes auto and specialty lending loans of $42.6 billion , unsecured consumer lending loans of $886 million , U.S. securities-based lending loans of $39.8 billion , non-U.S. consumer loans of $3.9 billion , student loans of $564 million and other consumer loans of $1.0 billion . (7) Total outstandings includes consumer finance loans of $564 million , consumer leases of $1.4 billion and consumer overdrafts of $146 million . (8) Consumer loans accounted for under the fair value option were residential mortgage loans of $1.6 billion and home equity loans of $250 million . 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 $2.8 billion . For additional information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option . (9) Total outstandings includes U.S. commercial real estate loans of $53.6 billion and non-U.S. commercial real estate loans of $3.5 billion . (10) The Corporation pledged $149.4 billion of loans to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Banks. This amount is not included in the parenthetical disclosure of loans and leases pledged as collateral on the Consolidated Balance Sheet as there were no related outstanding borrowings. |
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, 2016 and December 31, 2015 . Nonperforming 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 2015 Annual Report on Form 10-K . Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More (Dollars in millions) September 30 December 31 September 30 December 31 Consumer real estate Core portfolio Residential mortgage (1) $ 1,394 $ 1,825 $ 452 $ 382 Home equity 956 974 — — Non-core portfolio Residential mortgage (1) 1,947 2,978 4,665 6,768 Home equity 2,026 2,363 — — Credit card and other consumer U.S. credit card n/a n/a 702 789 Non-U.S. credit card n/a n/a 65 76 Direct/Indirect consumer 26 24 29 39 Other consumer 1 1 3 3 Total consumer 6,350 8,165 5,916 8,057 Commercial U.S. commercial 1,439 867 40 113 Commercial real estate 60 93 — 3 Commercial lease financing 35 12 28 15 Non-U.S. commercial 400 158 3 1 U.S. small business commercial 65 82 63 61 Total commercial 1,999 1,212 134 193 Total loans and leases $ 8,349 $ 9,377 $ 6,050 $ 8,250 (1) Residential mortgage loans in the core and non-core portfolios accruing past due 90 days or more are fully-insured loans. At September 30, 2016 and December 31, 2015 , residential mortgage includes $3.3 billion and $4.3 billion of loans on which interest has been curtailed by the Federal Housing Administration (FHA), and therefore are no longer accruing interest, although principal is still insured, and $1.8 billion and $2.9 billion of loans on which interest is still accruing. n/a = not applicable |
Financing Receivable Credit Quality Indicators | The following tables present certain credit quality indicators for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2016 and December 31, 2015 . Consumer Real Estate – Credit Quality Indicators (1) September 30, 2016 (Dollars in millions) Core Portfolio Residential Mortgage (2) Non-core Residential Mortgage (2) Residential (3) Core Portfolio Home Equity (2) Non-core Home Equity (2) Home Equity PCI Refreshed LTV (4) Less than or equal to 90 percent $ 122,783 $ 14,696 $ 7,972 $ 48,256 $ 8,363 $ 1,860 Greater than 90 percent but less than or equal to 100 percent 3,808 1,638 1,106 1,283 1,864 686 Greater than 100 percent 2,034 2,335 1,536 1,385 3,992 1,308 Fully-insured loans (5) 21,866 8,194 — — — — Total consumer real estate $ 150,491 $ 26,863 $ 10,614 $ 50,924 $ 14,219 $ 3,854 Refreshed FICO score Less than 620 $ 2,679 $ 3,442 $ 2,948 $ 1,279 $ 2,875 $ 587 Greater than or equal to 620 and less than 680 5,250 2,956 2,337 2,933 3,280 683 Greater than or equal to 680 and less than 740 22,095 4,789 3,015 10,537 3,265 1,133 Greater than or equal to 740 98,601 7,482 2,314 36,175 4,799 1,451 Fully-insured loans (5) 21,866 8,194 — — — — Total consumer real estate $ 150,491 $ 26,863 $ 10,614 $ 50,924 $ 14,219 $ 3,854 (1) Excludes $1.8 billion of loans accounted for under the fair value option. (2) Excludes PCI loans. (3) Includes $1.7 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, 2016 (Dollars in millions) U.S. Credit Non-U.S. Direct/Indirect Other (1) Refreshed FICO score Less than 620 $ 4,136 $ — $ 1,297 $ 193 Greater than or equal to 620 and less than 680 11,887 — 1,887 219 Greater than or equal to 680 and less than 740 34,065 — 12,132 395 Greater than or equal to 740 38,701 — 33,139 1,428 Other internal credit metrics (2, 3, 4) — 9,258 44,839 154 Total credit card and other consumer $ 88,789 $ 9,258 $ 93,294 $ 2,389 (1) At September 30, 2016 , 20 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 $43.3 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $516 million of loans the Corporation no longer originates, primarily student loans. (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, 2016 , 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, 2016 (Dollars in millions) U.S. Commercial Real Estate Commercial Non-U.S. U.S. Small (2) Risk ratings Pass rated $ 257,169 $ 57,003 $ 20,531 $ 83,765 $ 464 Reservable criticized 9,850 300 778 3,732 74 Refreshed FICO score (3) Less than 620 195 Greater than or equal to 620 and less than 680 578 Greater than or equal to 680 and less than 740 1,743 Greater than or equal to 740 3,349 Other internal credit metrics (3, 4) 6,674 Total commercial $ 267,019 $ 57,303 $ 21,309 $ 87,497 $ 13,077 (1) Excludes $6.3 billion of loans accounted for under the fair value option. (2) U.S. small business commercial includes $731 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, 2016 , 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. Consumer Real Estate – Credit Quality Indicators (1) December 31, 2015 (Dollars in millions) Core Portfolio (2) Non-core (2) Residential (3) Core Portfolio Home Equity (2) Non-core Home (2) Home Equity PCI Refreshed LTV (4) Less than or equal to 90 percent $ 110,023 $ 16,481 $ 8,655 $ 51,262 $ 8,347 $ 2,003 Greater than 90 percent but less than or equal to 100 percent 4,038 2,224 1,403 1,858 2,190 852 Greater than 100 percent 2,638 3,364 2,008 1,797 5,875 1,764 Fully-insured loans (5) 25,096 11,981 — — — — Total consumer real estate $ 141,795 $ 34,050 $ 12,066 $ 54,917 $ 16,412 $ 4,619 Refreshed FICO score Less than 620 $ 3,129 $ 4,749 $ 3,798 $ 1,322 $ 3,490 $ 729 Greater than or equal to 620 and less than 680 5,472 3,762 2,586 3,295 3,862 825 Greater than or equal to 680 and less than 740 22,486 5,138 3,187 12,180 3,451 1,356 Greater than or equal to 740 85,612 8,420 2,495 38,120 5,609 1,709 Fully-insured loans (5) 25,096 11,981 — — — — Total consumer real estate $ 141,795 $ 34,050 $ 12,066 $ 54,917 $ 16,412 $ 4,619 (1) Excludes $1.9 billion of loans accounted for under the fair value option. (2) Excludes PCI loans. (3) Includes $2.0 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, 2015 (Dollars in millions) U.S. Credit Non-U.S. Direct/Indirect Other (1) Refreshed FICO score Less than 620 $ 4,196 $ — $ 1,244 $ 217 Greater than or equal to 620 and less than 680 11,857 — 1,698 214 Greater than or equal to 680 and less than 740 34,270 — 10,955 337 Greater than or equal to 740 39,279 — 29,581 1,149 Other internal credit metrics (2, 3, 4) — 9,975 45,317 150 Total credit card and other consumer $ 89,602 $ 9,975 $ 88,795 $ 2,067 (1) At December 31, 2015 , 27 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 $43.7 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $567 million of loans the Corporation no longer originates, primarily student loans. (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, 2015 , 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) December 31, 2015 (Dollars in millions) U.S. Commercial Real Estate Commercial Non-U.S. U.S. Small (2) Risk ratings Pass rated $ 243,922 $ 56,688 $ 20,644 $ 87,905 $ 571 Reservable criticized 8,849 511 708 3,644 96 Refreshed FICO score (3) Less than 620 184 Greater than or equal to 620 and less than 680 543 Greater than or equal to 680 and less than 740 1,627 Greater than or equal to 740 3,027 Other internal credit metrics (3, 4) 6,828 Total commercial $ 252,771 $ 57,199 $ 21,352 $ 91,549 $ 12,876 (1) Excludes $5.1 billion of loans accounted for under the fair value option. (2) U.S. small business commercial includes $670 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, 2015 , 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. |
Financing Receivable, Modifications [Line Items] | |
Accretable Yield Activity | The table below shows activity for the accretable yield on PCI loans, which include the Countrywide Financial Corporation (Countrywide) portfolio and loans repurchased in connection with the 2013 settlement with FNMA. The amount of accretable yield is affected by changes in credit outlooks, including metrics such as default rates and loss severities, prepayment 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 in the three and nine months ended September 30, 2016 were primarily due to an increase in the expected principal and interest cash flows due to lower default estimates. Rollforward of Accretable Yield (Dollars in millions) Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Accretable yield, beginning of period $ 4,042 $ 4,569 Accretion (176 ) (553 ) Disposals/transfers (129 ) (364 ) Reclassifications from nonaccretable difference 34 119 Accretable yield, September 30, 2016 $ 3,771 $ 3,771 |
Consumer Real Estate | |
Financing Receivable, Impaired [Line Items] | |
Impaired Financing Receivables | The table below provides the unpaid principal balance, carrying value and related allowance at September 30, 2016 and December 31, 2015 , and the average carrying value and interest income recognized for the three and nine months ended September 30, 2016 and 2015 for impaired loans in the Corporation's Consumer Real Estate portfolio segment. Certain impaired consumer real estate loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value, which is net of previously recorded charge-offs. Impaired Loans – Consumer Real Estate September 30, 2016 December 31, 2015 (Dollars in millions) Unpaid Carrying Related Unpaid Carrying Related With no recorded allowance Residential mortgage $ 11,948 $ 9,369 $ — $ 14,888 $ 11,901 $ — Home equity 3,734 1,959 — 3,545 1,775 — With an allowance recorded Residential mortgage $ 4,452 $ 4,335 $ 242 $ 6,624 $ 6,471 $ 399 Home equity 940 844 142 1,047 911 235 Total Residential mortgage $ 16,400 $ 13,704 $ 242 $ 21,512 $ 18,372 $ 399 Home equity 4,674 2,803 142 4,592 2,686 235 Three Months Ended September 30 Nine Months Ended September 30 2016 2015 2016 2015 Average Interest (1) Average Interest (1) Average Interest (1) Average Interest (1) With no recorded allowance Residential mortgage $ 9,673 $ 83 $ 13,202 $ 97 $ 10,523 $ 277 $ 14,332 $ 310 Home equity 1,964 37 1,835 23 1,883 67 1,777 68 With an allowance recorded Residential mortgage $ 4,676 $ 36 $ 7,398 $ 61 $ 5,371 $ 133 $ 7,563 $ 186 Home equity 822 7 809 6 863 18 756 18 Total Residential mortgage $ 14,349 $ 119 $ 20,600 $ 158 $ 15,894 $ 410 $ 21,895 $ 496 Home equity 2,786 44 2,644 29 2,746 85 2,533 86 (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. |
Financing Receivable, Modifications [Line Items] | |
Troubled Debt Restructurings on Financing Receivables | The table below presents the carrying value of consumer real estate loans that entered into payment default during the three and nine months ended September 30, 2016 and 2015 that were modified in a TDR during the 12 months preceding payment default. A payment default for consumer real estate TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Payment defaults 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. Consumer Real Estate – TDRs Entering Payment Default That Were Modified During the Preceding 12 Months Three Months Ended September 30, 2016 (Dollars in millions) Residential Mortgage Home Equity Total Carrying Value Modifications under government programs $ 50 $ 1 $ 51 Modifications under proprietary programs 29 11 40 Loans discharged in Chapter 7 bankruptcy (1) 36 6 42 Trial modifications 138 23 161 Total modifications $ 253 $ 41 $ 294 Three Months Ended September 30, 2015 Modifications under government programs $ 117 $ 2 $ 119 Modifications under proprietary programs 97 1 98 Loans discharged in Chapter 7 bankruptcy (1) 57 20 77 Trial modifications (2) 327 49 376 Total modifications $ 598 $ 72 $ 670 Nine Months Ended September 30, 2016 Modifications under government programs $ 228 $ 2 $ 230 Modifications under proprietary programs 107 38 145 Loans discharged in Chapter 7 bankruptcy (1) 107 17 124 Trial modifications 559 89 648 Total modifications $ 1,001 $ 146 $ 1,147 Nine Months Ended September 30, 2015 Modifications under government programs $ 323 $ 4 $ 327 Modifications under proprietary programs 175 19 194 Loans discharged in Chapter 7 bankruptcy (1) 189 40 229 Trial modifications (2) 2,563 100 2,663 Total modifications $ 3,250 $ 163 $ 3,413 (1) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. (2) Includes $59 million and $1.6 billion for the three and nine months ended September 30, 2015 of trial modification offers made in connection with the August 2014 U.S. Department of Justice settlement to which the customer did not respond. The table below presents the September 30, 2016 and 2015 carrying value for consumer real estate loans that were modified in a TDR during the three and nine months ended September 30, 2016 and 2015 by type of modification. Consumer Real Estate – Modification Programs TDRs Entered into During the Three Months Ended September 30, 2016 (Dollars in millions) Residential Mortgage Home Equity Total Carrying Value Modifications under government programs Contractual interest rate reduction $ 12 $ 6 $ 18 Principal and/or interest forbearance — 2 2 Other modifications (1) 3 — 3 Total modifications under government programs 15 8 23 Modifications under proprietary programs Contractual interest rate reduction 19 1 20 Capitalization of past due amounts 4 — 4 Principal and/or interest forbearance 2 — 2 Other modifications (1) 1 44 45 Total modifications under proprietary programs 26 45 71 Trial modifications 343 147 490 Loans discharged in Chapter 7 bankruptcy (2) 61 23 84 Total modifications $ 445 $ 223 $ 668 TDRs Entered into During the Modifications under government programs Contractual interest rate reduction $ 67 $ 2 $ 69 Principal and/or interest forbearance — 1 1 Other modifications (1) 7 — 7 Total modifications under government programs 74 3 77 Modifications under proprietary programs Contractual interest rate reduction 46 — 46 Capitalization of past due amounts 16 — 16 Principal and/or interest forbearance 4 1 5 Other modifications (1) 5 1 6 Total modifications under proprietary programs 71 2 73 Trial modifications 793 210 1,003 Loans discharged in Chapter 7 bankruptcy (2) 92 28 120 Total modifications $ 1,030 $ 243 $ 1,273 (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. Consumer Real Estate – Modification Programs TDRs Entered into During the Nine Months Ended September 30, 2016 (Dollars in millions) Residential Mortgage Home Equity Total Carrying Value Modifications under government programs Contractual interest rate reduction $ 96 $ 25 $ 121 Principal and/or interest forbearance 2 9 11 Other modifications (1) 20 1 21 Total modifications under government programs 118 35 153 Modifications under proprietary programs Contractual interest rate reduction 58 85 143 Capitalization of past due amounts 20 7 27 Principal and/or interest forbearance 9 38 47 Other modifications (1) 3 69 72 Total modifications under proprietary programs 90 199 289 Trial modifications 593 260 853 Loans discharged in Chapter 7 bankruptcy (2) 141 58 199 Total modifications $ 942 $ 552 $ 1,494 TDRs Entered into During the Modifications under government programs Contractual interest rate reduction $ 453 $ 18 $ 471 Principal and/or interest forbearance 4 7 11 Other modifications (1) 35 — 35 Total modifications under government programs 492 25 517 Modifications under proprietary programs Contractual interest rate reduction 179 18 197 Capitalization of past due amounts 67 6 73 Principal and/or interest forbearance 101 32 133 Other modifications (1) 22 52 74 Total modifications under proprietary programs 369 108 477 Trial modifications 1,609 402 2,011 Loans discharged in Chapter 7 bankruptcy (2) 237 102 339 Total modifications $ 2,707 $ 637 $ 3,344 (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. The table below presents the September 30, 2016 and 2015 unpaid principal balance, carrying value, and average pre- and post-modification interest rates on consumer real estate loans that were modified in TDRs during the three and nine months ended September 30, 2016 and 2015 , and net charge-offs recorded during the period in which the modification occurred. The following Consumer Real Estate 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. Consumer Real Estate – TDRs Entered into During the Three Months Ended September 30, 2016 and 2015 (1) September 30, 2016 Three Months Ended September 30, 2016 (Dollars in millions) Unpaid Principal Balance Carrying Value Pre-Modification Interest Rate Post-Modification Interest Rate (2) Net Charge-offs (3) Residential mortgage $ 487 $ 445 4.83 % 4.51 % $ 4 Home equity 292 223 4.95 3.41 17 Total $ 779 $ 668 4.87 4.10 $ 21 September 30, 2015 Three Months Ended September 30, 2015 Residential mortgage $ 1,163 $ 1,030 4.91 % 4.71 % $ 28 Home equity 302 243 3.41 3.34 25 Total $ 1,465 $ 1,273 4.60 4.42 $ 53 Consumer Real Estate – TDRs Entered into During the Nine Months Ended September 30, 2016 and 2015 (1) September 30, 2016 Nine Months Ended September 30, 2016 Residential mortgage $ 1,039 $ 942 4.77 % 4.29 % $ 9 Home equity 718 552 4.03 2.87 43 Total $ 1,757 $ 1,494 4.47 3.71 $ 52 September 30, 2015 Nine Months Ended September 30, 2015 Residential mortgage $ 3,052 $ 2,707 4.99 % 4.47 % $ 70 Home equity 824 637 3.55 3.20 55 Total $ 3,876 $ 3,344 4.69 4.20 $ 125 (1) During the three and nine months ended September 30, 2016 , the Corporation forgave principal of $1 million and $12 million related to residential mortgage loans in connection with TDRs compared to $48 million and $371 million for the same periods in 2015. (2) The post-modification interest rate reflects the interest rate applicable only to permanently completed modifications, which exclude loans that are in a trial modification period. (3) Net charge-offs include amounts recorded on loans modified during the period that are no longer held by the Corporation at September 30, 2016 and 2015 due to sales and other dispositions. |
Credit card and other consumer | |
Financing Receivable, Impaired [Line Items] | |
Impaired Financing Receivables | The table below provides the unpaid principal balance, carrying value and related allowance at September 30, 2016 and December 31, 2015 , and the average carrying value and interest income recognized for the three and nine months ended September 30, 2016 and 2015 on the Corporation's renegotiated TDR portfolio in the Credit Card and Other Consumer portfolio segment. Impaired Loans – Credit Card and Other Consumer – Renegotiated TDRs September 30, 2016 December 31, 2015 (Dollars in millions) Unpaid Carrying (1) Related Unpaid Carrying (1) Related With no recorded allowance Direct/Indirect consumer $ 47 $ 20 $ — $ 50 $ 21 $ — With an allowance recorded U.S. credit card $ 500 $ 507 $ 123 $ 598 $ 611 $ 176 Non-U.S. credit card 91 104 62 109 126 70 Direct/Indirect consumer 5 6 1 17 21 4 Total U.S. credit card $ 500 $ 507 $ 123 $ 598 $ 611 $ 176 Non-U.S. credit card 91 104 62 109 126 70 Direct/Indirect consumer 52 26 1 67 42 4 Three Months Ended September 30 Nine Months Ended September 30 2016 2015 2016 2015 Average Interest (2) Average Interest (2) Average Interest (2) Average Interest (2) With no recorded allowance Direct/Indirect consumer $ 21 $ — $ 22 $ — $ 21 $ — $ 23 $ — With an allowance recorded U.S. credit card $ 539 $ 7 $ 714 $ 10 $ 571 $ 24 $ 779 $ 34 Non-U.S. credit card 107 — 142 1 115 2 150 3 Direct/Indirect consumer 7 — 40 1 12 — 60 3 Total U.S. credit card $ 539 $ 7 $ 714 $ 10 $ 571 $ 24 $ 779 $ 34 Non-U.S. credit card 107 — 142 1 115 2 150 3 Direct/Indirect consumer 28 — 62 1 33 — 83 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. |
Financing Receivable, Modifications [Line Items] | |
Troubled Debt Restructurings on Financing Receivables | The table below provides information on the Corporation's renegotiated TDR portfolio including the September 30, 2016 and 2015 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, 2016 and 2015 , and net charge-offs recorded during the period in which the modification occurred. Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Three Months Ended September 30, 2016 and 2015 September 30, 2016 Three Months Ended September 30, 2016 (Dollars in millions) Unpaid Principal Balance Carrying Value (1) Pre-Modification Interest Rate Post-Modification Interest Rate Net Charge-offs U.S. credit card $ 46 $ 50 17.48 % 5.33 % $ 4 Non-U.S. credit card 32 36 24.11 0.38 20 Direct/Indirect consumer 7 4 4.13 4.08 2 Total $ 85 $ 90 19.55 3.27 $ 26 September 30, 2015 Three Months Ended September 30, 2015 U.S. credit card $ 59 $ 65 17.10 % 4.97 % $ 8 Non-U.S. credit card 32 38 24.04 0.43 23 Direct/Indirect consumer 7 4 5.58 5.10 2 Total $ 98 $ 107 19.12 3.37 $ 33 Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Nine Months Ended September 30, 2016 and 2015 September 30, 2016 Nine Months Ended September 30, 2016 U.S. credit card $ 126 $ 134 17.42 % 5.45 % $ 8 Non-U.S. credit card 63 73 23.93 0.44 28 Direct/Indirect consumer 16 9 4.50 4.33 7 Total $ 205 $ 216 19.05 3.72 $ 43 September 30, 2015 Nine Months Ended September 30, 2015 U.S. credit card $ 172 $ 184 16.98 % 5.02 % $ 16 Non-U.S. credit card 72 84 24.01 0.45 35 Direct/Indirect consumer 16 10 6.28 5.29 7 Total $ 260 $ 278 18.72 3.65 $ 58 (1) Includes accrued interest and fees. The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio at September 30, 2016 and December 31, 2015 . Credit Card and Other Consumer – Renegotiated TDRs by Program Type Internal Programs External Programs Other (1) Total Percent of Balances Current or (Dollars in millions) September 30 December 31 September 30 December 31 September 30 December 31 September 30 December 31 September 30 December 31 U.S. credit card $ 237 $ 313 $ 269 $ 296 $ 1 $ 2 $ 507 $ 611 89.08 % 88.74 % Non-U.S. credit card 12 21 8 10 84 95 104 126 42.84 44.25 Direct/Indirect consumer 3 11 2 7 21 24 26 42 91.75 89.12 Total renegotiated TDRs $ 252 $ 345 $ 279 $ 313 $ 106 $ 121 $ 637 $ 779 81.65 81.55 (1) Other TDRs for non-U.S. credit card include modifications of accounts that are ineligible for a fixed payment plan. 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, 2016 and 2015 . Credit Card and Other Consumer – Renegotiated TDRs Entered into During the Period by Program Type Three Months Ended September 30, 2016 (Dollars in millions) Internal Programs External Programs Other (1) Total U.S. credit card $ 27 $ 23 $ — $ 50 Non-U.S. credit card 1 1 34 36 Direct/Indirect consumer — — 4 4 Total renegotiated TDRs $ 28 $ 24 $ 38 $ 90 Three Months Ended September 30, 2015 U.S. credit card $ 41 $ 24 $ — $ 65 Non-U.S. credit card 1 1 36 38 Direct/Indirect consumer — — 4 4 Total renegotiated TDRs $ 42 $ 25 $ 40 $ 107 Nine Months Ended September 30, 2016 U.S. credit card $ 71 $ 63 $ — $ 134 Non-U.S. credit card 2 3 68 73 Direct/Indirect consumer — — 9 9 Total renegotiated TDRs $ 73 $ 66 $ 77 $ 216 Nine Months Ended September 30, 2015 U.S. credit card $ 118 $ 66 $ — $ 184 Non-U.S. credit card 3 3 78 84 Direct/Indirect consumer 1 — 9 10 Total renegotiated TDRs $ 122 $ 69 $ 87 $ 278 (1) Other TDRs for non-U.S. credit card include modifications of accounts that are ineligible for a fixed payment plan. |
Commercial | |
Financing Receivable, Impaired [Line Items] | |
Impaired Financing Receivables | The table below provides the unpaid principal balance, carrying value and related allowance at September 30, 2016 and December 31, 2015 , and the average carrying value and interest income recognized for the three and nine months ended September 30, 2016 and 2015 for impaired loans in the Corporation's Commercial loan portfolio segment. 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, 2016 December 31, 2015 (Dollars in millions) Unpaid Carrying Related Unpaid Carrying Related With no recorded allowance U.S. commercial $ 1,146 $ 1,109 $ — $ 566 $ 541 $ — Commercial real estate 72 65 — 82 77 — Non-U.S. commercial 35 35 — 4 4 — With an allowance recorded U.S. commercial $ 1,970 $ 1,553 $ 149 $ 1,350 $ 1,157 $ 115 Commercial real estate 233 70 7 328 107 11 Commercial lease financing 7 4 — — — — Non-U.S. commercial 715 575 72 531 381 56 U.S. small business commercial (1) 92 79 30 105 101 35 Total U.S. commercial $ 3,116 $ 2,662 $ 149 $ 1,916 $ 1,698 $ 115 Commercial real estate 305 135 7 410 184 11 Commercial lease financing 7 4 — — — — Non-U.S. commercial 750 610 72 535 385 56 U.S. small business commercial (1) 92 79 30 105 101 35 Three Months Ended September 30 Nine Months Ended September 30 2016 2015 2016 2015 Average Interest (2) Average Interest (2) Average Interest (2) Average Interest (2) With no recorded allowance U.S. commercial $ 940 $ 5 $ 776 $ 4 $ 726 $ 10 $ 704 $ 12 Commercial real estate 59 — 73 — 67 — 75 1 Non-U.S. commercial 32 — 53 — 18 — 30 1 With an allowance recorded U.S. commercial $ 1,624 $ 16 $ 981 $ 11 $ 1,570 $ 46 $ 902 $ 36 Commercial real estate 87 1 179 1 95 3 248 6 Commercial lease financing 4 — — — 2 — — — Non-U.S. commercial 397 5 102 1 372 11 96 2 U.S. small business commercial (1) 81 1 110 — 91 1 112 — Total U.S. commercial $ 2,564 $ 21 $ 1,757 $ 15 $ 2,296 $ 56 $ 1,606 $ 48 Commercial real estate 146 1 252 1 162 3 323 7 Commercial lease financing 4 — — — 2 — — — Non-U.S. commercial 429 5 155 1 390 11 126 3 U.S. small business commercial (1) 81 1 110 — 91 1 112 — (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. |
Financing Receivable, Modifications [Line Items] | |
Troubled Debt Restructurings on Financing Receivables | The table below presents the September 30, 2016 and 2015 unpaid principal balance and carrying value of commercial loans that were modified as TDRs during the three and nine months ended September 30, 2016 and 2015 , 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 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, 2016 and 2015 September 30, 2016 Three Months Ended September 30, 2016 (Dollars in millions) Unpaid Principal Balance Carrying Value Net Charge-offs U.S. commercial $ 793 $ 768 $ 14 Commercial real estate 4 4 — Commercial lease financing 2 2 — Non-U.S. commercial 17 17 — U.S. small business commercial (1) 1 1 — Total $ 817 $ 792 $ 14 September 30, 2015 Three Months Ended September 30, 2015 U.S. commercial $ 347 $ 324 $ 12 Commercial real estate 17 17 — Non-U.S. commercial 10 10 — U.S. small business commercial (1) 2 2 — Total $ 376 $ 353 $ 12 Commercial – TDRs Entered into During the Nine Months Ended September 30, 2016 and 2015 September 30, 2016 Nine Months Ended September 30, 2016 U.S. commercial $ 1,483 $ 1,447 $ 43 Commercial real estate 11 11 1 Commercial lease financing 7 4 2 Non-U.S. commercial 265 201 48 U.S. small business commercial (1) 4 4 — Total $ 1,770 $ 1,667 $ 94 September 30, 2015 Nine Months Ended September 30, 2015 U.S. commercial $ 977 $ 900 $ 18 Commercial real estate 47 47 — Non-U.S. commercial 45 45 — U.S. small business commercial (1) 5 5 — Total $ 1,074 $ 997 $ 18 (1) U.S. small business commercial TDRs are comprised of renegotiated small business card loans. |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Changes in the Allowance for Credit Losses | The table below presents the allowance and the carrying value of outstanding loans and leases by portfolio segment at September 30, 2016 and December 31, 2015 . Allowance and Carrying Value by Portfolio Segment September 30, 2016 (Dollars in millions) Consumer Real Estate Credit Card Commercial Total Impaired loans and troubled debt restructurings (1) Allowance for loan and lease losses (2) $ 384 $ 186 $ 258 $ 828 Carrying value (3) 16,507 637 3,490 20,634 Allowance as a percentage of carrying value 2.33 % 29.20 % 7.39 % 4.01 % Loans collectively evaluated for impairment Allowance for loan and lease losses $ 2,152 $ 3,204 $ 5,055 $ 10,411 Carrying value (3, 4) 225,990 193,093 442,715 861,798 Allowance as a percentage of carrying value (4) 0.95 % 1.66 % 1.14 % 1.21 % Purchased credit-impaired loans Valuation allowance $ 453 n/a n/a $ 453 Carrying value gross of valuation allowance 14,468 n/a n/a 14,468 Valuation allowance as a percentage of carrying value 3.13 % n/a n/a 3.13 % Total Allowance for loan and lease losses $ 2,989 $ 3,390 $ 5,313 $ 11,692 Carrying value (3, 4) 256,965 193,730 446,205 896,900 Allowance as a percentage of carrying value (4) 1.16 % 1.75 % 1.19 % 1.30 % December 31, 2015 Impaired loans and troubled debt restructurings (1) Allowance for loan and lease losses (2) $ 634 $ 250 $ 217 $ 1,101 Carrying value (3) 21,058 779 2,368 24,205 Allowance as a percentage of carrying value 3.01 % 32.09 % 9.16 % 4.55 % Loans collectively evaluated for impairment Allowance for loan and lease losses $ 2,476 $ 3,221 $ 4,632 $ 10,329 Carrying value (3, 4) 226,116 189,660 433,379 849,155 Allowance as a percentage of carrying value (4) 1.10 % 1.70 % 1.07 % 1.22 % Purchased credit-impaired loans Valuation allowance $ 804 n/a n/a $ 804 Carrying value gross of valuation allowance 16,685 n/a n/a 16,685 Valuation allowance as a percentage of carrying value 4.82 % n/a n/a 4.82 % Total Allowance for loan and lease losses $ 3,914 $ 3,471 $ 4,849 $ 12,234 Carrying value (3, 4) 263,859 190,439 435,747 890,045 Allowance as a percentage of carrying value (4) 1.48 % 1.82 % 1.11 % 1.37 % (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 $30 million and $35 million related to impaired U.S. small business commercial at September 30, 2016 and December 31, 2015 . (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 $8.1 billion and $6.9 billion at September 30, 2016 and December 31, 2015 . n/a = not applicable The table below summarizes the changes in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2016 and 2015 . Three Months Ended September 30, 2016 (Dollars in millions) Consumer Real Estate Credit Card Commercial Total Allowance Allowance for loan and lease losses, July 1 $ 3,209 $ 3,334 $ 5,294 $ 11,837 Loans and leases charged off (246 ) (868 ) (163 ) (1,277 ) Recoveries of loans and leases previously charged off 145 191 53 389 Net charge-offs (101 ) (677 ) (110 ) (888 ) Write-offs of PCI loans (83 ) — — (83 ) Provision for loan and lease losses (36 ) 741 129 834 Other (1) — (8 ) — (8 ) Allowance for loan and lease losses, September 30 2,989 3,390 5,313 11,692 Reserve for unfunded lending commitments, July 1 — — 750 750 Provision for unfunded lending commitments — — 16 16 Other (1) — — 1 1 Reserve for unfunded lending commitments, September 30 — — 767 767 Allowance for credit losses, September 30 $ 2,989 $ 3,390 $ 6,080 $ 12,459 Three Months Ended September 30, 2015 Allowance for loan and lease losses, July 1 $ 4,741 $ 3,702 $ 4,625 $ 13,068 Loans and leases charged off (345 ) (873 ) (157 ) (1,375 ) Recoveries of loans and leases previously charged off 199 198 46 443 Net charge-offs (146 ) (675 ) (111 ) (932 ) Write-offs of PCI loans (148 ) — — (148 ) Provision for loan and lease losses (12 ) 554 191 733 Other (1) (35 ) (29 ) — (64 ) Allowance for loan and lease losses, September 30 4,400 3,552 4,705 12,657 Reserve for unfunded lending commitments, July 1 — — 588 588 Provision for unfunded lending commitments — — 73 73 Reserve for unfunded lending commitments, September 30 — — 661 661 Allowance for credit losses, September 30 $ 4,400 $ 3,552 $ 5,366 $ 13,318 Nine Months Ended September 30, 2016 Allowance for loan and lease losses, January 1 $ 3,914 $ 3,471 $ 4,849 $ 12,234 Loans and leases charged off (928 ) (2,664 ) (559 ) (4,151 ) Recoveries of loans and leases previously charged off 464 584 162 1,210 Net charge-offs (464 ) (2,080 ) (397 ) (2,941 ) Write-offs of PCI loans (270 ) — — (270 ) Provision for loan and lease losses (191 ) 2,031 962 2,802 Other (1) — (32 ) (101 ) (133 ) Allowance for loan and lease losses, September 30 2,989 3,390 5,313 11,692 Reserve for unfunded lending commitments, January 1 — — 646 646 Provision for unfunded lending commitments — — 21 21 Other (1) — — 100 100 Reserve for unfunded lending commitments, September 30 — — 767 767 Allowance for credit losses, September 30 $ 2,989 $ 3,390 $ 6,080 $ 12,459 Nine Months Ended September 30, 2015 Allowance for loan and lease losses, January 1 $ 5,935 $ 4,047 $ 4,437 $ 14,419 Loans and leases charged off (1,430 ) (2,733 ) (410 ) (4,573 ) Recoveries of loans and leases previously charged off 587 618 174 1,379 Net charge-offs (843 ) (2,115 ) (236 ) (3,194 ) Write-offs of PCI loans (726 ) — — (726 ) Provision for loan and lease losses 68 1,646 504 2,218 Other (1) (34 ) (26 ) — (60 ) Allowance for loan and lease losses, September 30 4,400 3,552 4,705 12,657 Reserve for unfunded lending commitments, January 1 — — 528 528 Provision for unfunded lending commitments — — 133 133 Reserve for unfunded lending commitments, September 30 — — 661 661 Allowance for credit losses, September 30 $ 4,400 $ 3,552 $ 5,366 $ 13,318 (1) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, foreign currency translation adjustments and certain other reclassifications. |
Securitizations and Other Var31
Securitizations and Other Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015 . First-lien Mortgage Securitizations Three Months Ended September 30 Residential Mortgage Agency Commercial Mortgage (Dollars in millions) 2016 2015 2016 2015 Cash proceeds from new securitizations (1) $ 7,131 $ 7,632 $ 1,052 $ 807 Gain on securitizations (2) 89 118 27 14 Nine Months Ended September 30 2016 2015 2016 2015 Cash proceeds from new securitizations (1) $ 18,580 $ 22,304 $ 3,031 $ 5,695 Gain on securitizations (2) 322 475 18 46 (1) The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds. (2) A majority of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. Gains recognized on these LHFS prior to securitization, which totaled $149 million and $349 million , net of hedges, during the three and nine months ended September 30, 2016 compared to $192 million and $623 million for the same periods in 2015 , are not included in the table above. |
Schedule of Variable Interest Entities | The table below summarizes select information related to home equity loan, credit card and other asset-backed VIEs in which the Corporation held a variable interest at September 30, 2016 and December 31, 2015 . Home Equity Loan, Credit Card and Other Asset-backed VIEs Home Equity Loan (1) Credit Card (2, 3) 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 September 30 December 31 September 30 December 31 Unconsolidated VIEs Maximum loss exposure $ 3,338 $ 3,988 $ — $ — $ 10,200 $ 13,046 $ 1,760 $ 1,572 $ 49 $ 63 On-balance sheet assets Senior securities held (4, 5) : Trading account assets $ — $ — $ — $ — $ 670 $ 1,248 $ 26 $ 2 $ — $ — Debt securities carried at fair value 48 57 — — 2,585 4,341 — — 49 53 Held-to-maturity securities — — — — 6,820 7,370 — — — — Subordinate securities held (4, 5) : Trading account assets — — — — 55 17 — — — — Debt securities carried at fair value — — — — 71 70 — — — — All other assets — — — — — — — — — 10 Total retained positions $ 48 $ 57 $ — $ — $ 10,201 $ 13,046 $ 26 $ 2 $ 49 $ 63 Total assets of VIEs (6) $ 4,999 $ 5,883 $ — $ — $ 24,489 $ 35,362 $ 2,626 $ 2,518 $ 179 $ 314 Consolidated VIEs Maximum loss exposure $ 163 $ 231 $ 25,101 $ 32,678 $ 180 $ 354 $ 1,770 $ 1,973 $ — $ — On-balance sheet assets Trading account assets $ — $ — $ — $ — $ 456 $ 771 $ 1,797 $ 1,984 $ — $ — Loans and leases 263 321 34,872 43,194 — — — — — — Allowance for loan and lease losses (16 ) (18 ) (1,060 ) (1,293 ) — — — — — — All other assets 6 20 283 342 — — — 1 — — Total assets $ 253 $ 323 $ 34,095 $ 42,243 $ 456 $ 771 $ 1,797 $ 1,985 $ — $ — On-balance sheet liabilities Short-term borrowings $ — $ — $ — $ — $ — $ — $ 546 $ 681 $ — $ — Long-term debt 123 183 8,977 9,550 276 417 12 12 — — All other liabilities — — 17 15 — — 15 — — — Total liabilities $ 123 $ 183 $ 8,994 $ 9,565 $ 276 $ 417 $ 573 $ 693 $ — $ — (1) For unconsolidated home equity loan VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves. For both consolidated and unconsolidated home equity loan VIEs, the maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees. For additional information, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees . (2) At September 30, 2016 and December 31, 2015 , loans and leases in the consolidated credit card trust included $17.3 billion and $24.7 billion of seller's interest. (3) At September 30, 2016 and December 31, 2015 , all other assets in the consolidated credit card trust included restricted cash, certain short-term investments, and unbilled accrued interest and fees. (4) As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2016 and 2015 , there were no OTTI losses recorded on those securities classified as AFS or HTM debt securities. (5) The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). (6) Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan. |
First Lien Mortgages | |
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, 2016 and December 31, 2015 . 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 Unconsolidated VIEs Maximum loss exposure (1) $ 24,492 $ 28,192 $ 778 $ 1,027 $ 2,626 $ 2,905 $ 539 $ 622 $ 332 $ 326 On-balance sheet assets Senior securities held (2) : Trading account assets $ 1,345 $ 1,297 $ 14 $ 42 $ 54 $ 94 $ 84 $ 99 $ 29 $ 59 Debt securities carried at fair value 19,322 24,369 478 613 2,274 2,479 315 340 — — Held-to-maturity securities 3,812 2,511 — — — — — — 55 37 Subordinate securities held (2) : Trading account assets — — 1 1 29 37 1 2 16 22 Debt securities carried at fair value — — 9 12 2 3 25 28 54 54 Held-to-maturity securities — — — — — — — — 13 13 Residual interests held — — — — — — — — 32 48 All other assets (3) 13 15 29 40 — — 114 153 — — Total retained positions $ 24,492 $ 28,192 $ 531 $ 708 $ 2,359 $ 2,613 $ 539 $ 622 $ 199 $ 233 Principal balance outstanding (4) $ 284,246 $ 313,613 $ 13,767 $ 16,087 $ 24,396 $ 27,854 $ 35,969 $ 40,848 $ 21,032 $ 34,243 Consolidated VIEs Maximum loss exposure (1) $ 19,384 $ 26,878 $ 52 $ 65 $ 153 $ 232 $ — $ — $ — $ — On-balance sheet assets Trading account assets $ 383 $ 1,101 $ — $ — $ — $ 188 $ — $ — $ — $ — Loans and leases (5) 18,562 25,328 83 111 572 675 — — — — All other assets 441 449 3 — 70 54 — — — — Total assets $ 19,386 $ 26,878 $ 86 $ 111 $ 642 $ 917 $ — $ — $ — $ — On-balance sheet liabilities Long-term debt $ 2 $ — $ 34 $ 46 $ 613 $ 840 $ — $ — $ — $ — All other liabilities 3 1 — — — — — — — — Total liabilities $ 5 $ 1 $ 34 $ 46 $ 613 $ 840 $ — $ — $ — $ — (1) Maximum loss exposure includes obligations under loss-sharing reinsurance and other arrangements for non-agency residential mortgage and commercial mortgage securitizations, but excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and other servicing rights and obligations. For additional information, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees and Note 17 – 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, 2016 and 2015 , 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 $326 million and $222 million , 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 $326 million and $222 million , representing the principal amount that would be payable to the securitization vehicles if the Corporation was to exercise the repurchase option, at September 30, 2016 and December 31, 2015 . (4) Principal balance outstanding includes loans the Corporation transferred with which it has continuing involvement, which may include servicing the loans. (5) Balance at September 30, 2016 includes $655 million from consolidated collateralized financing entities (CFE) that were measured using the fair value of the financial liabilities of those entities as the measurement basis. |
Other Variable Interest Entities | |
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, 2016 and December 31, 2015 . Other VIEs September 30, 2016 December 31, 2015 (Dollars in millions) Consolidated Unconsolidated Total Consolidated Unconsolidated Total Maximum loss exposure $ 6,904 $ 17,058 $ 23,962 $ 6,295 $ 12,916 $ 19,211 On-balance sheet assets Trading account assets $ 3,063 $ 438 $ 3,501 $ 2,300 $ 366 $ 2,666 Debt securities carried at fair value — 84 84 — 126 126 Loans and leases 3,474 3,522 6,996 3,317 3,389 6,706 Allowance for loan and lease losses (9 ) (29 ) (38 ) (9 ) (23 ) (32 ) Loans held-for-sale 209 921 1,130 284 1,025 1,309 All other assets 664 11,250 11,914 664 6,925 7,589 Total $ 7,401 $ 16,186 $ 23,587 $ 6,556 $ 11,808 $ 18,364 On-balance sheet liabilities Long-term debt (1) $ 1,172 $ — $ 1,172 $ 3,025 $ — $ 3,025 All other liabilities 3 2,746 2,749 5 2,697 2,702 Total $ 1,175 $ 2,746 $ 3,921 $ 3,030 $ 2,697 $ 5,727 Total assets of VIEs $ 7,401 $ 62,353 $ 69,754 $ 6,556 $ 49,190 $ 55,746 (1) Includes $678 million and $2.8 billion of long-term debt at September 30, 2016 and December 31, 2015 issued by other consolidated VIEs, which has recourse to the general credit of the Corporation. |
Representations and Warrantie32
Representations and Warranties Obligations and Corporate Guarantees (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Representations and Warranties Obligations and Corporate Guarantees [Abstract] | |
Outstanding Claims By Category And Product | The table below presents unresolved repurchase claims at September 30, 2016 and December 31, 2015 . The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has the contractual right to submit claims. The unresolved repurchase claims predominantly relate to subprime and pay option first-lien loans, and home equity loans. For additional information, see Private-label Securitizations and Whole-loan Sales Experience in this Note and Note 12 – Commitments and Contingencies to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Unresolved Repurchase Claims by Counterparty, net of duplicate claims (Dollars in millions) September 30 December 31 By counterparty Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other (1) $ 16,713 $ 16,748 Monolines 1,590 1,599 GSEs 9 17 Total unresolved repurchase claims by counterparty, net of duplicate claims $ 18,312 $ 18,364 (1) Includes $11.9 billion of claims based on individual file reviews and $4.8 billion of claims submitted without individual file reviews at both September 30, 2016 and December 31, 2015 . |
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) 2016 2015 2016 2015 Liability for representations and warranties and corporate guarantees, beginning of period $ 2,723 $ 11,556 $ 11,326 $ 12,081 Additions for new sales 1 2 3 5 Net reductions (23 ) (174 ) (8,687 ) (581 ) Provision (benefit) 99 75 158 (46 ) Liability for representations and warranties and corporate guarantees, September 30 (1) $ 2,800 $ 11,459 $ 2,800 $ 11,459 (1) In February 2016, the Corporation made an $8.5 billion cash payment as part of the settlement with BNY Mellon. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | The table below presents goodwill balances by business segment and All Other at September 30, 2016 and December 31, 2015 . The reporting units utilized for goodwill impairment testing are the operating segments or one level below. For more information, see Note 8 – Goodwill and Intangible Assets to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Goodwill (Dollars in millions) September 30 December 31 Consumer Banking $ 30,123 $ 30,123 Global Wealth & Investment Management 9,681 9,698 Global Banking 23,923 23,923 Global Markets 5,197 5,197 All Other 820 820 Total goodwill $ 69,744 $ 69,761 |
Intangible Assets | The table below presents the gross and net carrying values and accumulated amortization for intangible assets at September 30, 2016 and December 31, 2015 . Intangible Assets (1, 2) September 30, 2016 December 31, 2015 (Dollars in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Purchased credit card and affinity relationships $ 6,876 $ 6,213 $ 663 $ 7,006 $ 6,111 $ 895 Core deposit and other intangibles (3) 3,837 2,023 1,814 3,922 1,986 1,936 Customer relationships 3,887 3,196 691 3,927 2,990 937 Total intangible assets $ 14,600 $ 11,432 $ 3,168 $ 14,855 $ 11,087 $ 3,768 (1) Excludes fully amortized intangible assets. (2) At September 30, 2016 and December 31, 2015 , none of the intangible assets were impaired. (3) Includes intangible assets of $1.6 billion at both September 30, 2016 and December 31, 2015 associated with trade names that have an indefinite life and, accordingly, are not amortized. |
Federal Funds Sold or Purchas34
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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. The Corporation elects to account for certain securities financing agreements and short-term borrowings under the fair value option. For more information on the election of the fair value option, see Note 15 – Fair Value Option . Three Months Ended September 30 Nine Months Ended September 30 Amount Rate Amount Rate (Dollars in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Average during period Federal funds sold and securities borrowed or purchased under agreements to resell $ 214,254 $ 210,127 0.50 % 0.52 % $ 215,476 $ 212,781 0.50 % 0.49 % Federal funds purchased and securities loaned or sold under agreements to repurchase $ 177,883 $ 219,613 0.93 % 0.83 % $ 184,500 $ 218,112 1.00 % 0.92 % Short-term borrowings 29,751 37,710 2.02 1.44 30,631 33,119 1.85 1.47 Total $ 207,634 $ 257,323 1.09 0.92 $ 215,131 $ 251,231 1.12 0.99 Maximum month-end balance during period Federal funds sold and securities borrowed or purchased under agreements to resell $ 222,489 $ 217,701 $ 225,015 $ 226,502 Federal funds purchased and securities loaned or sold under agreements to repurchase $ 192,536 $ 235,232 $ 196,631 $ 235,232 Short-term borrowings 31,935 40,110 33,051 40,110 |
Offsetting Assets [Line Items] | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings | The tables below present securities sold under agreements to repurchase and securities loaned by remaining contractual term to maturity and class of collateral pledged. Included in "Other" are transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged as collateral or sold. Certain agreements contain a right to substitute collateral and/or terminate the agreement prior to maturity at the option of the Corporation or the counterparty. Such agreements are included in the table below based on the remaining contractual term to maturity. At September 30, 2016 and December 31, 2015 , the Corporation had no outstanding repurchase-to-maturity transactions. Remaining Contractual Maturity September 30, 2016 (Dollars in millions) Overnight and Continuous 30 Days or Less After 30 Days Through 90 Days Greater than 90 Days (1) Total Securities sold under agreements to repurchase $ 143,277 $ 72,784 $ 43,945 $ 40,385 $ 300,391 Securities loaned 15,372 1,458 1,804 1,822 20,456 Other 15,588 — — — 15,588 Total $ 174,237 $ 74,242 $ 45,749 $ 42,207 $ 336,435 December 31, 2015 Securities sold under agreements to repurchase $ 126,694 $ 86,879 $ 43,216 $ 27,514 $ 284,303 Securities loaned 39,772 363 2,352 2,288 44,775 Other 13,235 — — — 13,235 Total $ 179,701 $ 87,242 $ 45,568 $ 29,802 $ 342,313 (1) No agreements have maturities greater than three years . Class of Collateral Pledged September 30, 2016 (Dollars in millions) Securities Sold Under Agreements to Repurchase Securities Loaned Other Total U.S. government and agency securities $ 177,348 $ — $ 137 $ 177,485 Corporate securities, trading loans and other 8,724 1,475 326 10,525 Equity securities 20,517 11,261 15,089 46,867 Non-U.S. sovereign debt 85,885 7,720 36 93,641 Mortgage trading loans and ABS 7,917 — — 7,917 Total $ 300,391 $ 20,456 $ 15,588 $ 336,435 December 31, 2015 U.S. government and agency securities $ 142,572 $ — $ 27 $ 142,599 Corporate securities, trading loans and other 11,767 265 278 12,310 Equity securities 32,323 13,350 12,929 58,602 Non-U.S. sovereign debt 87,849 31,160 1 119,010 Mortgage trading loans and ABS 9,792 — — 9,792 Total $ 284,303 $ 44,775 $ 13,235 $ 342,313 |
Securities Borrowed and Securities Purchased Under Agreements to Resell | |
Offsetting Assets [Line Items] | |
Offsetting Assets | The Securities Financing Agreements table 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, 2016 and December 31, 2015 . 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 2 – Derivatives . The "Other" amount in the table, which is included on the Consolidated Balance Sheet in accrued expenses and other liabilities, relates to transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged as collateral or sold. In these transactions, the Corporation recognizes an asset at fair value, representing the securities received, and a liability, representing the obligation to return those securities. Gross assets and liabilities in the table 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. The column titled "Financial Instruments" in the table 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 this 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. Securities Financing Agreements September 30, 2016 (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 (1) $ 361,474 $ (142,664 ) $ 218,810 $ (168,580 ) $ 50,230 Securities loaned or sold under agreements to repurchase $ 320,847 $ (142,664 ) $ 178,183 $ (148,316 ) $ 29,867 Other 15,588 — 15,588 (15,588 ) — Total $ 336,435 $ (142,664 ) $ 193,771 $ (163,904 ) $ 29,867 December 31, 2015 Securities borrowed or purchased under agreements to resell (1) $ 347,281 $ (154,799 ) $ 192,482 $ (144,332 ) $ 48,150 Securities loaned or sold under agreements to repurchase $ 329,078 $ (154,799 ) $ 174,279 $ (135,737 ) $ 38,542 Other 13,235 — 13,235 (13,235 ) — Total $ 342,313 $ (154,799 ) $ 187,514 $ (148,972 ) $ 38,542 (1) Excludes repurchase activity of $11.3 billion and $9.3 billion reported in loans and leases on the Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 . |
Securities Loaned and Financial Assets Sold Under Agreements to Repurchase | |
Offsetting Liabilities [Line Items] | |
Offsetting Liabilities | The Securities Financing Agreements table 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, 2016 and December 31, 2015 . 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 2 – Derivatives . The "Other" amount in the table, which is included on the Consolidated Balance Sheet in accrued expenses and other liabilities, relates to transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged as collateral or sold. In these transactions, the Corporation recognizes an asset at fair value, representing the securities received, and a liability, representing the obligation to return those securities. Gross assets and liabilities in the table 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. The column titled "Financial Instruments" in the table 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 this 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. Securities Financing Agreements September 30, 2016 (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 (1) $ 361,474 $ (142,664 ) $ 218,810 $ (168,580 ) $ 50,230 Securities loaned or sold under agreements to repurchase $ 320,847 $ (142,664 ) $ 178,183 $ (148,316 ) $ 29,867 Other 15,588 — 15,588 (15,588 ) — Total $ 336,435 $ (142,664 ) $ 193,771 $ (163,904 ) $ 29,867 December 31, 2015 Securities borrowed or purchased under agreements to resell (1) $ 347,281 $ (154,799 ) $ 192,482 $ (144,332 ) $ 48,150 Securities loaned or sold under agreements to repurchase $ 329,078 $ (154,799 ) $ 174,279 $ (135,737 ) $ 38,542 Other 13,235 — 13,235 (13,235 ) — Total $ 342,313 $ (154,799 ) $ 187,514 $ (148,972 ) $ 38,542 (1) Excludes repurchase activity of $11.3 billion and $9.3 billion reported in loans and leases on the Consolidated Balance Sheet at September 30, 2016 and December 31, 2015 . |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Credit Extension Commitment Expirations | The table below also includes the notional amount of commitments of $7.7 billion and $10.9 billion at September 30, 2016 and December 31, 2015 that are accounted for under the fair value option. However, the table below excludes cumulative net fair value of $216 million and $658 million on these commitments, which is 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 15 – Fair Value Option . Credit Extension Commitments September 30, 2016 (Dollars in millions) Expire in One Year or Less Expire After One Year Through Expire After Three Years Through Expire After Five Years Total Notional amount of credit extension commitments Loan commitments $ 83,122 $ 133,262 $ 155,783 $ 21,500 $ 393,667 Home equity lines of credit 8,349 12,779 2,871 23,713 47,712 Standby letters of credit and financial guarantees (1) 19,198 10,820 3,347 1,355 34,720 Letters of credit 1,460 95 174 78 1,807 Legally binding commitments 112,129 156,956 162,175 46,646 477,906 Credit card lines (2) 379,956 — — — 379,956 Total credit extension commitments $ 492,085 $ 156,956 $ 162,175 $ 46,646 $ 857,862 December 31, 2015 Notional amount of credit extension commitments Loan commitments $ 84,884 $ 119,272 $ 158,920 $ 37,112 $ 400,188 Home equity lines of credit 7,074 18,438 5,126 19,697 50,335 Standby letters of credit and financial guarantees (1) 19,584 9,903 3,385 1,218 34,090 Letters of credit 1,650 165 258 54 2,127 Legally binding commitments 113,192 147,778 167,689 58,081 486,740 Credit card lines (2) 370,127 — — — 370,127 Total credit extension commitments $ 483,319 $ 147,778 $ 167,689 $ 58,081 $ 856,867 (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 $26.3 billion and $8.3 billion at September 30, 2016 , and $25.5 billion and $8.4 billion at December 31, 2015 . Amounts in the table include consumer SBLCs of $129 million and $164 million at September 30, 2016 and December 31, 2015 . (2) Includes business card unused lines of credit. |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Schedule of Dividends | The table below presents the declared quarterly cash dividends on common stock in 2016 and through November 1, 2016 . Declaration Date Record Date Payment Date Dividend Per Share October 27, 2016 December 2, 2016 December 30, 2016 $0.075 July 27, 2016 September 2, 2016 September 23, 2016 0.075 April 27, 2016 June 3, 2016 June 24, 2016 0.05 January 21, 2016 March 4, 2016 March 25, 2016 0.05 |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated OCI | The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2016 and 2015 . (Dollars in millions) Debt Securities Available-for-sale Marketable Equity Securities Debit Valuation Adjustments Derivatives Employee Benefit Plans Foreign Currency (1) Total Balance, December 31, 2014 $ 1,641 $ 17 n/a $ (1,661 ) $ (3,350 ) $ (669 ) $ (4,022 ) Cumulative adjustment for accounting change — — $ (1,226 ) — — — (1,226 ) Net change 169 (2 ) 633 416 77 (84 ) 1,209 Balance, September 30, 2015 $ 1,810 $ 15 $ (593 ) $ (1,245 ) $ (3,273 ) $ (753 ) $ (4,039 ) Balance, December 31, 2015 $ 16 $ 62 $ (611 ) $ (1,077 ) $ (2,956 ) $ (792 ) $ (5,358 ) Net change 3,362 (43 ) 49 277 29 (17 ) 3,657 Balance, September 30, 2016 $ 3,378 $ 19 $ (562 ) $ (800 ) $ (2,927 ) $ (809 ) $ (1,701 ) (1) The 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. n/a = not applicable |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The table below presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI before- and after-tax for the nine months ended September 30, 2016 and 2015 . Changes in OCI Components Before- and After-tax Nine Months Ended September 30 2016 2015 (Dollars in millions) Before-tax Tax effect After-tax Before-tax Tax effect After-tax Debt securities: Net change in unrealized gains $ 5,896 $ (2,239 ) $ 3,657 $ 1,089 $ (418 ) $ 671 Net realized gains reclassified into earnings (476 ) 181 (295 ) (809 ) 307 (502 ) Net change 5,420 (2,058 ) 3,362 280 (111 ) 169 Available-for-sale marketable equity securities: Net decrease in fair value (70 ) 27 (43 ) (3 ) 1 (2 ) Net change (70 ) 27 (43 ) (3 ) 1 (2 ) Debit valuation adjustments: Net increase in fair value 61 (23 ) 38 475 (181 ) 294 Net realized losses reclassified into earnings 18 (7 ) 11 545 (206 ) 339 Net change 79 (30 ) 49 1,020 (387 ) 633 Derivatives: Net decrease in fair value (64 ) 23 (41 ) (42 ) 14 (28 ) Net realized losses reclassified into earnings 508 (190 ) 318 711 (267 ) 444 Net change 444 (167 ) 277 669 (253 ) 416 Employee benefit plans: Net realized losses reclassified into earnings 64 (25 ) 39 128 (49 ) 79 Settlements, curtailments and other — (10 ) (10 ) (2 ) — (2 ) Net change 64 (35 ) 29 126 (49 ) 77 Foreign currency: Net decrease in fair value 123 (140 ) (17 ) 482 (566 ) (84 ) Net realized gains reclassified into earnings — — — (29 ) 29 — Net change 123 (140 ) (17 ) 453 (537 ) (84 ) Total other comprehensive income $ 6,060 $ (2,403 ) $ 3,657 $ 2,545 $ (1,336 ) $ 1,209 |
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, 2016 and 2015 . There were no amounts reclassified out of AFS marketable equity securities and foreign currency for the nine months ended September 30, 2016 and 2015 . Reclassifications Out of Accumulated OCI (Dollars in millions) Nine Months Ended September 30 Accumulated OCI Components Income Statement Line Item Impacted 2016 2015 Debt securities: Gains on sales of debt securities $ 490 $ 886 Other loss (14 ) (77 ) Income before income taxes 476 809 Income tax expense 181 307 Reclassification to net income 295 502 Debit valuation adjustments: Other loss (18 ) (545 ) Loss before income taxes (18 ) (545 ) Income tax benefit (7 ) (206 ) Reclassification to net income (11 ) (339 ) Derivatives: Interest rate contracts Net interest income (447 ) (768 ) Equity compensation contracts Personnel (61 ) 57 Loss before income taxes (508 ) (711 ) Income tax benefit (190 ) (267 ) Reclassification to net income (318 ) (444 ) Employee benefit plans: Net actuarial losses and prior service costs Personnel (64 ) (128 ) Loss before income taxes (64 ) (128 ) Income tax benefit (25 ) (49 ) Reclassification to net income (39 ) (79 ) Total reclassification adjustments $ (73 ) $ (360 ) |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015 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 2015 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) 2016 2015 2016 2015 Earnings per common share Net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 Preferred stock dividends (503 ) (441 ) (1,321 ) (1,153 ) Net income applicable to common shareholders $ 4,452 $ 4,178 $ 11,889 $ 11,399 Average common shares issued and outstanding 10,250,124 10,444,291 10,312,878 10,483,466 Earnings per common share $ 0.43 $ 0.40 $ 1.15 $ 1.09 Diluted earnings per common share Net income applicable to common shareholders $ 4,452 $ 4,178 $ 11,889 $ 11,399 Add preferred stock dividends due to assumed conversions 75 75 225 225 Net income allocated to common shareholders $ 4,527 $ 4,253 $ 12,114 $ 11,624 Average common shares issued and outstanding 10,250,124 10,444,291 10,312,878 10,483,466 Dilutive potential common shares (1) 750,349 752,912 733,929 750,659 Total diluted average common shares issued and outstanding 11,000,473 11,197,203 11,046,807 11,234,125 Diluted earnings per common share $ 0.41 $ 0.38 $ 1.10 $ 1.03 (1) Includes incremental dilutive shares from restricted stock units, restricted stock, stock options and warrants. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Carried at Fair Value on a Recurring Basis | Assets and liabilities carried at fair value on a recurring basis at September 30, 2016 and December 31, 2015 , including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables. September 30, 2016 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Federal funds sold and securities borrowed or purchased under agreements to resell $ — $ 51,638 $ — $ — $ 51,638 Trading account assets: U.S. government and agency securities (2) 38,950 18,404 — — 57,354 Corporate securities, trading loans and other 168 27,702 2,562 — 30,432 Equity securities 37,641 22,858 366 — 60,865 Non-U.S. sovereign debt 14,931 13,956 639 — 29,526 Mortgage trading loans and ABS — 8,506 1,166 — 9,672 Total trading account assets (3) 91,690 91,426 4,733 — 187,849 Derivative assets (4) 7,515 775,954 4,867 (740,440 ) 47,896 AFS debt securities: U.S. Treasury and agency securities 43,798 1,486 — — 45,284 Mortgage-backed securities: Agency — 201,051 — — 201,051 Agency-collateralized mortgage obligations — 9,081 — — 9,081 Non-agency residential — 1,391 227 — 1,618 Commercial — 12,936 — — 12,936 Non-U.S. securities 2,689 3,321 — — 6,010 Other taxable securities — 8,729 687 — 9,416 Tax-exempt securities — 15,413 571 — 15,984 Total AFS debt securities 46,487 253,408 1,485 — 301,380 Other debt securities carried at fair value: Mortgage-backed securities: Agency-collateralized mortgage obligations — 6 — — 6 Non-agency residential — 3,167 26 — 3,193 Non-U.S. securities 16,212 1,468 — — 17,680 Other taxable securities — 246 — — 246 Total other debt securities carried at fair value 16,212 4,887 26 — 21,125 Loans and leases (5) — 6,753 1,355 — 8,108 Mortgage servicing rights — — 2,477 — 2,477 Loans held-for-sale — 4,065 587 — 4,652 Other assets 11,488 2,040 363 — 13,891 Total assets $ 173,392 $ 1,190,171 $ 15,893 $ (740,440 ) $ 639,016 Liabilities Interest-bearing deposits in U.S. offices $ — $ 913 $ — $ — $ 913 Federal funds purchased and securities loaned or sold under agreements to repurchase — 31,530 338 — 31,868 Trading account liabilities: U.S. government and agency securities 9,515 273 — — 9,788 Equity securities 42,193 3,344 — — 45,537 Non-U.S. sovereign debt 13,131 2,234 — — 15,365 Corporate securities and other 115 6,167 26 — 6,308 Total trading account liabilities 64,954 12,018 26 — 76,998 Derivative liabilities (4) 7,555 769,162 5,854 (739,087 ) 43,484 Short-term borrowings — 1,055 — — 1,055 Accrued expenses and other liabilities 13,752 2,052 9 — 15,813 Long-term debt — 30,685 1,934 — 32,619 Total liabilities $ 86,261 $ 847,415 $ 8,161 $ (739,087 ) $ 202,750 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $18.4 billion of GSE obligations. (3) Includes securities with a fair value of $11.2 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. (4) During the nine months ended September 30, 2016 , $1.4 billion of derivative assets and $1.5 billion of derivative liabilities were transferred from Level 1 to Level 2 and $1.6 billion of derivative assets and $1.5 billion of derivative liabilities were transferred from Level 2 to Level 1 based on the inputs used to measure fair value. For further disaggregation of derivative assets and liabilities, see Note 2 – Derivatives . (5) Includes $655 million from CFEs that were measured using the fair value of the financial liabilities of those entities as the measurement basis. December 31, 2015 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Federal funds sold and securities borrowed or purchased under agreements to resell $ — $ 55,143 $ — $ — $ 55,143 Trading account assets: U.S. government and agency securities (2) 33,034 15,501 — — 48,535 Corporate securities, trading loans and other 325 22,738 2,838 — 25,901 Equity securities 41,735 20,887 407 — 63,029 Non-U.S. sovereign debt 15,651 12,915 521 — 29,087 Mortgage trading loans and ABS — 8,107 1,868 — 9,975 Total trading account assets (3) 90,745 80,148 5,634 — 176,527 Derivative assets (4) 5,149 678,355 5,134 (638,648 ) 49,990 AFS debt securities: U.S. Treasury and agency securities 23,374 1,903 — — 25,277 Mortgage-backed securities: Agency — 228,947 — — 228,947 Agency-collateralized mortgage obligations — 10,985 — — 10,985 Non-agency residential — 3,073 106 — 3,179 Commercial — 7,165 — — 7,165 Non-U.S. securities 2,768 2,999 — — 5,767 Other taxable securities — 9,688 757 — 10,445 Tax-exempt securities — 13,439 569 — 14,008 Total AFS debt securities 26,142 278,199 1,432 — 305,773 Other debt securities carried at fair value: Mortgage-backed securities: Agency-collateralized mortgage obligations — 7 — — 7 Non-agency residential — 3,460 30 — 3,490 Non-U.S. securities 11,691 1,152 — — 12,843 Other taxable securities — 267 — — 267 Total other debt securities carried at fair value 11,691 4,886 30 — 16,607 Loans and leases — 5,318 1,620 — 6,938 Mortgage servicing rights — — 3,087 — 3,087 Loans held-for-sale — 4,031 787 — 4,818 Other assets (5) 11,923 2,023 374 — 14,320 Total assets $ 145,650 $ 1,108,103 $ 18,098 $ (638,648 ) $ 633,203 Liabilities Interest-bearing deposits in U.S. offices $ — $ 1,116 $ — $ — $ 1,116 Federal funds purchased and securities loaned or sold under agreements to repurchase — 24,239 335 — 24,574 Trading account liabilities: U.S. government and agency securities 14,803 169 — — 14,972 Equity securities 27,898 2,392 — — 30,290 Non-U.S. sovereign debt 13,589 1,951 — — 15,540 Corporate securities and other 193 5,947 21 — 6,161 Total trading account liabilities 56,483 10,459 21 — 66,963 Derivative liabilities (4) 4,941 670,600 5,575 (642,666 ) 38,450 Short-term borrowings — 1,295 30 — 1,325 Accrued expenses and other liabilities 11,656 2,234 9 — 13,899 Long-term debt — 28,584 1,513 — 30,097 Total liabilities $ 73,080 $ 738,527 $ 7,483 $ (642,666 ) $ 176,424 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $14.8 billion of GSE obligations. (3) Includes securities with a fair value of $16.4 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. (4) During 2015 , $6.6 billion of derivative assets and $6.7 billion of derivative liabilities were transferred from Level 1 to Level 2 based on inputs used to measure fair value. Additionally, $6.4 billion of derivative assets and $6.2 billion of derivative liabilities were transferred from Level 2 to Level 1 due to additional information related to certain options. For further disaggregation of derivative assets and liabilities, see Note 2 – Derivatives . (5) During 2015 , approximately $327 million of assets were transferred from Level 2 to Level 1 due to a restriction that was lifted for an equity investment. |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | 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, 2016 and 2015 , including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2016 Gross (Dollars in millions) Balance July 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,654 $ 57 $ — $ 226 $ (245 ) $ — $ (134 ) $ 202 $ (198 ) $ 2,562 Equity securities 455 11 — 10 (98 ) — — 27 (39 ) 366 Non-U.S. sovereign debt 630 20 (7 ) — — — (4 ) — — 639 Mortgage trading loans and ABS 1,286 102 — 331 (441 ) — (103 ) 15 (24 ) 1,166 Total trading account assets 5,025 190 (7 ) 567 (784 ) — (241 ) 244 (261 ) 4,733 Net derivative assets (3) (648 ) (131 ) — 114 (346 ) — 118 (53 ) (41 ) (987 ) AFS debt securities: Non-agency residential MBS 134 — — 189 — — (102 ) 6 — 227 Other taxable securities 717 1 (1 ) — — — (30 ) — — 687 Tax-exempt securities 559 — 2 — — — — 10 — 571 Total AFS debt securities 1,410 1 1 189 — — (132 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 28 (2 ) — — — — — — — 26 Loans and leases (4, 5) 1,459 (9 ) — — — — (54 ) — (41 ) 1,355 Mortgage servicing rights (5) 2,269 313 — — — 101 (206 ) — — 2,477 Loans held-for-sale (4) 690 13 (4 ) — (56 ) — (25 ) 4 (35 ) 587 Other assets 348 11 — 4 — — — — — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (313 ) (17 ) — — — — 10 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (26 ) 2 — — (2 ) — — — — (26 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,156 ) (22 ) (23 ) 15 — (3 ) 363 (206 ) 98 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2015 Gross (Dollars in millions) Balance July 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,326 $ (6 ) $ (11 ) $ 553 $ (681 ) $ — $ (295 ) $ 238 $ (225 ) $ 2,899 Equity securities 386 (1 ) — 32 — — (6 ) 2 (3 ) 410 Non-U.S. sovereign debt 468 12 (102 ) 7 (1 ) — — — — 384 Mortgage trading loans and ABS 2,159 (7 ) — 293 (264 ) — (157 ) 2 (21 ) 2,005 Total trading account assets 6,339 (2 ) (113 ) 885 (946 ) — (458 ) 242 (249 ) 5,698 Net derivative assets (3) (351 ) 1,042 (5 ) 80 (290 ) — (115 ) (20 ) 56 397 AFS debt securities: Non-agency residential MBS 234 — (2 ) 41 — — (47 ) — (37 ) 189 Non-U.S. securities 9 — — — — — (6 ) — — 3 Other taxable securities 677 — (2 ) — — — (88 ) — (6 ) 581 Tax-exempt securities 584 — — — — — (15 ) — — 569 Total AFS debt securities 1,504 — (4 ) 41 — — (156 ) — (43 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS 34 (3 ) — — — — — — — 31 Loans and leases (4, 5) 1,970 17 — — (1 ) 57 (59 ) 7 (7 ) 1,984 Mortgage servicing rights (5) 3,521 (363 ) — — (87 ) 185 (213 ) — — 3,043 Loans held-for-sale (4) 660 — — 2 (79 ) 3 (6 ) 7 (28 ) 559 Other assets 756 (42 ) — 3 (11 ) — (17 ) — (15 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (368 ) — — — — (5 ) 208 (32 ) 1 (196 ) Trading account liabilities – Corporate securities and other (57 ) — — — 19 — — — — (38 ) Short-term borrowings (4) — 4 — — — (3 ) — (19 ) — (18 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,716 ) 252 — 139 — (40 ) 59 (264 ) 660 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2016 Gross (Dollars in millions) Balance January 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,838 $ 118 $ 2 $ 925 $ (638 ) $ — $ (479 ) $ 432 $ (636 ) $ 2,562 Equity securities 407 93 — 53 (135 ) — (72 ) 60 (40 ) 366 Non-U.S. sovereign debt 521 112 91 3 (1 ) — (87 ) — — 639 Mortgage trading loans and ABS 1,868 197 (2 ) 681 (1,264 ) — (270 ) 91 (135 ) 1,166 Total trading account assets 5,634 520 91 1,662 (2,038 ) — (908 ) 583 (811 ) 4,733 Net derivative assets (3) (441 ) 356 — 313 (965 ) — 7 (177 ) (80 ) (987 ) AFS debt securities: Non-agency residential MBS 106 — 3 385 (92 ) — (181 ) 6 — 227 Other taxable securities 757 3 (7 ) — — — (66 ) — — 687 Tax-exempt securities 569 — (8 ) 1 — — (1 ) 10 — 571 Total AFS debt securities 1,432 3 (12 ) 386 (92 ) — (248 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 30 (4 ) — — — — — — — 26 Loans and leases (4, 5) 1,620 (13 ) — 69 — 50 (143 ) 6 (234 ) 1,355 Mortgage servicing rights (5) 3,087 (295 ) — — — 307 (622 ) — — 2,477 Loans held-for-sale (4) 787 97 51 20 (236 ) — (77 ) 43 (98 ) 587 Other assets 374 (27 ) — 38 — — (24 ) 2 — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (335 ) 12 — — — (14 ) 17 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (21 ) 4 — 1 (10 ) — — — — (26 ) Short-term borrowings (4) (30 ) 1 — — — — 29 — — — Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (1,513 ) (192 ) (41 ) 44 — (326 ) 496 (751 ) 349 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2015 Gross (Dollars in millions) Balance January 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,270 $ 28 $ (11 ) $ 1,030 $ (1,119 ) $ — $ (944 ) $ 1,221 $ (576 ) $ 2,899 Equity securities 352 13 — 48 (3 ) — (11 ) 33 (22 ) 410 Non-U.S. sovereign debt 574 94 (180 ) 34 (1 ) — (110 ) — (27 ) 384 Mortgage trading loans and ABS 2,063 154 — 1,102 (891 ) — (401 ) 12 (34 ) 2,005 Total trading account assets 6,259 289 (191 ) 2,214 (2,014 ) — (1,466 ) 1,266 (659 ) 5,698 Net derivative assets (3) (920 ) 1,608 (5 ) 193 (683 ) — 106 (80 ) 178 397 AFS debt securities: Non-agency residential MBS 279 (12 ) 5 103 — — (281 ) 132 (37 ) 189 Non-U.S. securities 10 — — — — — (7 ) — — 3 Other taxable securities 1,667 — (2 ) 6 — — (151 ) — (939 ) 581 Tax-exempt securities 599 — (1 ) — — — (29 ) — — 569 Total AFS debt securities 2,555 (12 ) 2 109 — — (468 ) 132 (976 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS — (2 ) — 33 — — — — — 31 Loans and leases (4, 5) 1,983 22 — — (3 ) 57 (179 ) 125 (21 ) 1,984 Mortgage servicing rights (5) 3,530 10 — — (399 ) 568 (666 ) — — 3,043 Loans held-for-sale (4) 173 (48 ) — 493 (174 ) 36 (12 ) 184 (93 ) 559 Other assets 911 (46 ) — 12 (129 ) — (32 ) 8 (50 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) — (14 ) — — — (33 ) 208 (358 ) 1 (196 ) Trading account liabilities – Corporate securities and other (36 ) 3 — 33 (38 ) — — — — (38 ) Short-term borrowings (4) — 9 — — — (24 ) 1 (23 ) 19 (18 ) Accrued expenses and other liabilities (10 ) 1 — — — — — — — (9 ) Long-term debt (4) (2,362 ) 322 — 316 — (179 ) 219 (1,380 ) 1,154 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2015 Gross (Dollars in millions) Balance January 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,270 $ 28 $ (11 ) $ 1,030 $ (1,119 ) $ — $ (944 ) $ 1,221 $ (576 ) $ 2,899 Equity securities 352 13 — 48 (3 ) — (11 ) 33 (22 ) 410 Non-U.S. sovereign debt 574 94 (180 ) 34 (1 ) — (110 ) — (27 ) 384 Mortgage trading loans and ABS 2,063 154 — 1,102 (891 ) — (401 ) 12 (34 ) 2,005 Total trading account assets 6,259 289 (191 ) 2,214 (2,014 ) — (1,466 ) 1,266 (659 ) 5,698 Net derivative assets (3) (920 ) 1,608 (5 ) 193 (683 ) — 106 (80 ) 178 397 AFS debt securities: Non-agency residential MBS 279 (12 ) 5 103 — — (281 ) 132 (37 ) 189 Non-U.S. securities 10 — — — — — (7 ) — — 3 Other taxable securities 1,667 — (2 ) 6 — — (151 ) — (939 ) 581 Tax-exempt securities 599 — (1 ) — — — (29 ) — — 569 Total AFS debt securities 2,555 (12 ) 2 109 — — (468 ) 132 (976 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS — (2 ) — 33 — — — — — 31 Loans and leases (4, 5) 1,983 22 — — (3 ) 57 (179 ) 125 (21 ) 1,984 Mortgage servicing rights (5) 3,530 10 — — (399 ) 568 (666 ) — — 3,043 Loans held-for-sale (4) 173 (48 ) — 493 (174 ) 36 (12 ) 184 (93 ) 559 Other assets 911 (46 ) — 12 (129 ) — (32 ) 8 (50 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) — (14 ) — — — (33 ) 208 (358 ) 1 (196 ) Trading account liabilities – Corporate securities and other (36 ) 3 — 33 (38 ) — — — — (38 ) Short-term borrowings (4) — 9 — — — (24 ) 1 (23 ) 19 (18 ) Accrued expenses and other liabilities (10 ) 1 — — — — — — — (9 ) Long-term debt (4) (2,362 ) 322 — 316 — (179 ) 219 (1,380 ) 1,154 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. 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, 2016 and 2015 , including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2016 Gross (Dollars in millions) Balance July 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,654 $ 57 $ — $ 226 $ (245 ) $ — $ (134 ) $ 202 $ (198 ) $ 2,562 Equity securities 455 11 — 10 (98 ) — — 27 (39 ) 366 Non-U.S. sovereign debt 630 20 (7 ) — — — (4 ) — — 639 Mortgage trading loans and ABS 1,286 102 — 331 (441 ) — (103 ) 15 (24 ) 1,166 Total trading account assets 5,025 190 (7 ) 567 (784 ) — (241 ) 244 (261 ) 4,733 Net derivative assets (3) (648 ) (131 ) — 114 (346 ) — 118 (53 ) (41 ) (987 ) AFS debt securities: Non-agency residential MBS 134 — — 189 — — (102 ) 6 — 227 Other taxable securities 717 1 (1 ) — — — (30 ) — — 687 Tax-exempt securities 559 — 2 — — — — 10 — 571 Total AFS debt securities 1,410 1 1 189 — — (132 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 28 (2 ) — — — — — — — 26 Loans and leases (4, 5) 1,459 (9 ) — — — — (54 ) — (41 ) 1,355 Mortgage servicing rights (5) 2,269 313 — — — 101 (206 ) — — 2,477 Loans held-for-sale (4) 690 13 (4 ) — (56 ) — (25 ) 4 (35 ) 587 Other assets 348 11 — 4 — — — — — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (313 ) (17 ) — — — — 10 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (26 ) 2 — — (2 ) — — — — (26 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,156 ) (22 ) (23 ) 15 — (3 ) 363 (206 ) 98 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Level 3 – Fair Value Measurements (1) Three Months Ended September 30, 2015 Gross (Dollars in millions) Balance July 1 2015 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 3,326 $ (6 ) $ (11 ) $ 553 $ (681 ) $ — $ (295 ) $ 238 $ (225 ) $ 2,899 Equity securities 386 (1 ) — 32 — — (6 ) 2 (3 ) 410 Non-U.S. sovereign debt 468 12 (102 ) 7 (1 ) — — — — 384 Mortgage trading loans and ABS 2,159 (7 ) — 293 (264 ) — (157 ) 2 (21 ) 2,005 Total trading account assets 6,339 (2 ) (113 ) 885 (946 ) — (458 ) 242 (249 ) 5,698 Net derivative assets (3) (351 ) 1,042 (5 ) 80 (290 ) — (115 ) (20 ) 56 397 AFS debt securities: Non-agency residential MBS 234 — (2 ) 41 — — (47 ) — (37 ) 189 Non-U.S. securities 9 — — — — — (6 ) — — 3 Other taxable securities 677 — (2 ) — — — (88 ) — (6 ) 581 Tax-exempt securities 584 — — — — — (15 ) — — 569 Total AFS debt securities 1,504 — (4 ) 41 — — (156 ) — (43 ) 1,342 Other debt securities carried at fair value – Non-agency residential MBS 34 (3 ) — — — — — — — 31 Loans and leases (4, 5) 1,970 17 — — (1 ) 57 (59 ) 7 (7 ) 1,984 Mortgage servicing rights (5) 3,521 (363 ) — — (87 ) 185 (213 ) — — 3,043 Loans held-for-sale (4) 660 — — 2 (79 ) 3 (6 ) 7 (28 ) 559 Other assets 756 (42 ) — 3 (11 ) — (17 ) — (15 ) 674 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (368 ) — — — — (5 ) 208 (32 ) 1 (196 ) Trading account liabilities – Corporate securities and other (57 ) — — — 19 — — — — (38 ) Short-term borrowings (4) — 4 — — — (3 ) — (19 ) — (18 ) Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (2,716 ) 252 — 139 — (40 ) 59 (264 ) 660 (1,910 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $6.0 billion and derivative liabilities of $5.6 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. Level 3 – Fair Value Measurements (1) Nine Months Ended September 30, 2016 Gross (Dollars in millions) Balance January 1 2016 Gains (Losses) in Earnings Gains (Losses) in OCI (2) Purchases Sales Issuances Settlements Gross Transfers into Level 3 Gross Transfers out of Level 3 Balance September 30 Trading account assets: Corporate securities, trading loans and other $ 2,838 $ 118 $ 2 $ 925 $ (638 ) $ — $ (479 ) $ 432 $ (636 ) $ 2,562 Equity securities 407 93 — 53 (135 ) — (72 ) 60 (40 ) 366 Non-U.S. sovereign debt 521 112 91 3 (1 ) — (87 ) — — 639 Mortgage trading loans and ABS 1,868 197 (2 ) 681 (1,264 ) — (270 ) 91 (135 ) 1,166 Total trading account assets 5,634 520 91 1,662 (2,038 ) — (908 ) 583 (811 ) 4,733 Net derivative assets (3) (441 ) 356 — 313 (965 ) — 7 (177 ) (80 ) (987 ) AFS debt securities: Non-agency residential MBS 106 — 3 385 (92 ) — (181 ) 6 — 227 Other taxable securities 757 3 (7 ) — — — (66 ) — — 687 Tax-exempt securities 569 — (8 ) 1 — — (1 ) 10 — 571 Total AFS debt securities 1,432 3 (12 ) 386 (92 ) — (248 ) 16 — 1,485 Other debt securities carried at fair value – Non-agency residential MBS 30 (4 ) — — — — — — — 26 Loans and leases (4, 5) 1,620 (13 ) — 69 — 50 (143 ) 6 (234 ) 1,355 Mortgage servicing rights (5) 3,087 (295 ) — — — 307 (622 ) — — 2,477 Loans held-for-sale (4) 787 97 51 20 (236 ) — (77 ) 43 (98 ) 587 Other assets 374 (27 ) — 38 — — (24 ) 2 — 363 Federal funds purchased and securities loaned or sold under agreements to repurchase (4) (335 ) 12 — — — (14 ) 17 (19 ) 1 (338 ) Trading account liabilities – Corporate securities and other (21 ) 4 — 1 (10 ) — — — — (26 ) Short-term borrowings (4) (30 ) 1 — — — — 29 — — — Accrued expenses and other liabilities (9 ) — — — — — — — — (9 ) Long-term debt (4) (1,513 ) (192 ) (41 ) 44 — (326 ) 496 (751 ) 349 (1,934 ) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes unrealized gains (losses) on AFS debt securities, foreign currency translation adjustments and the impact on structured liabilities of changes in the Corporation's credit spreads. For additional information, see Note 1 – Summary of Significant Accounting Principles . (3) Net derivatives include derivative assets of $4.9 billion and derivative liabilities of $5.9 billion . (4) Amounts represent instruments that are accounted for under the fair value option. (5) Issuances represent loan originations and MSRs retained following securitizations or whole-loan sales. |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | 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, 2016 and 2015 . These amounts include gains (losses) on financial instruments 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 57 $ — $ — $ 57 Equity securities 11 — — 11 Non-U.S. sovereign debt 20 — — 20 Mortgage trading loans and ABS 102 — — 102 Total trading account assets 190 — — 190 Net derivative assets (325 ) 185 9 (131 ) AFS debt securities – Other taxable securities — — 1 1 Other debt securities carried at fair value – Non-agency residential MBS — — (2 ) (2 ) Loans and leases (2) — — (9 ) (9 ) Mortgage servicing rights (22 ) 335 — 313 Loans held-for-sale (2) — — 13 13 Other assets — (4 ) 15 11 Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (17 ) — — (17 ) Trading account liabilities – Corporate securities and other 2 — — 2 Long-term debt (2) (22 ) — — (22 ) Total $ (194 ) $ 516 $ 27 $ 349 Three Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (6 ) $ — $ — $ (6 ) Equity securities (1 ) — — (1 ) Non-U.S. sovereign debt 12 — — 12 Mortgage trading loans and ABS (7 ) — — (7 ) Total trading account assets (2 ) — — (2 ) Net derivative assets 837 184 21 1,042 Other debt securities carried at fair value – Non-agency residential MBS — — (3 ) (3 ) Loans and leases (2) 1 — 16 17 Mortgage servicing rights 13 (376 ) — (363 ) Loans held-for-sale (2) (4 ) — 4 — Other assets — (32 ) (10 ) (42 ) Short-term borrowings (2) 4 — — 4 Long-term debt (2) 251 — 1 252 Total $ 1,100 $ (224 ) $ 29 $ 905 (1) Mortgage banking income (loss) 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 118 $ — $ — $ 118 Equity securities 93 — — 93 Non-U.S. sovereign debt 112 — — 112 Mortgage trading loans and ABS 197 — — 197 Total trading account assets 520 — — 520 Net derivative assets (142 ) 513 (15 ) 356 AFS debt securities – Other taxable securities — — 3 3 Other debt securities carried at fair value – Non-agency residential MBS — — (4 ) (4 ) Loans and leases (2) 8 — (21 ) (13 ) Mortgage servicing rights 7 (302 ) — (295 ) Loans held-for-sale (2) 11 — 86 97 Other assets — (41 ) 14 (27 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) 12 — — 12 Trading account liabilities – Corporate securities and other 4 — — 4 Short-term borrowings (2) 1 — — 1 Long-term debt (2) (193 ) — 1 (192 ) Total $ 228 $ 170 $ 64 $ 462 Nine Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ 28 $ — $ — $ 28 Equity securities 13 — — 13 Non-U.S. sovereign debt 94 — — 94 Mortgage trading loans and ABS 154 — — 154 Total trading account assets 289 — — 289 Net derivative assets 902 662 44 1,608 AFS debt securities – Non-agency residential MBS — — (12 ) (12 ) Other debt securities carried at fair value – Non-agency residential MBS — — (2 ) (2 ) Loans and leases (2) (5 ) — 27 22 Mortgage servicing rights 2 8 — 10 Loans held-for-sale (2) (58 ) — 10 (48 ) Other assets — (56 ) 10 (46 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (14 ) — — (14 ) Trading account liabilities – Corporate securities and other 3 — — 3 Short-term borrowings (2) 9 — — 9 Accrued expenses and other liabilities — — 1 1 Long-term debt (2) 350 — (28 ) 322 Total $ 1,478 $ 614 $ 50 $ 2,142 (1) Mortgage banking income (loss) 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 | The following tables summarize changes in unrealized gains (losses) recorded in earnings during the three and nine months ended September 30, 2016 and 2015 for Level 3 assets and liabilities that were still held at September 30, 2016 and 2015 . These amounts include changes in fair value on financial 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 Three Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 20 $ — $ — $ 20 Equity securities 5 — — 5 Non-U.S. sovereign debt 19 — — 19 Mortgage trading loans and ABS 62 — — 62 Total trading account assets 106 — — 106 Net derivative assets (281 ) 74 9 (198 ) Loans and leases (2) — — (8 ) (8 ) Mortgage servicing rights (22 ) 284 — 262 Loans held-for-sale (2) — — 10 10 Other assets — 2 15 17 Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (17 ) — — (17 ) Trading account liabilities – Corporate securities and other 1 — — 1 Long-term debt (2) (24 ) — — (24 ) Total $ (237 ) $ 360 $ 26 $ 149 Three Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (34 ) $ — $ — $ (34 ) Equity securities (1 ) — — (1 ) Non-U.S. sovereign debt 12 — — 12 Mortgage trading loans and ABS (34 ) — — (34 ) Total trading account assets (57 ) — — (57 ) Net derivative assets 735 58 21 814 Loans and leases (2) 1 — 26 27 Mortgage servicing rights 13 (413 ) — (400 ) Other assets — (26 ) (12 ) (38 ) Trading account liabilities – Corporate securities and other 1 — — 1 Short-term borrowings (2) 4 — — 4 Long-term debt (2) 250 — — 250 Total $ 947 $ (381 ) $ 35 $ 601 (1) Mortgage banking income (loss) 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, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) (1) Other Total Trading account assets: Corporate securities, trading loans and other $ 11 $ — $ — $ 11 Equity securities (19 ) — — (19 ) Non-U.S. sovereign debt 110 — — 110 Mortgage trading loans and ABS 110 — — 110 Total trading account assets 212 — — 212 Net derivative assets (168 ) 75 (15 ) (108 ) Loans and leases (2) — — (3 ) (3 ) Mortgage servicing rights 7 (464 ) — (457 ) Loans held-for-sale (2) — — 76 76 Other assets — (25 ) 10 (15 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (21 ) — — (21 ) Trading account liabilities – Corporate securities and other 3 — — 3 Long-term debt (2) (208 ) — — (208 ) Total $ (175 ) $ (414 ) $ 68 $ (521 ) Nine Months Ended September 30, 2015 Trading account assets: Corporate securities, trading loans and other $ (102 ) $ — $ — $ (102 ) Equity securities 7 — — 7 Non-U.S. sovereign debt 81 — — 81 Mortgage trading loans and ABS (28 ) — — (28 ) Total trading account assets (42 ) — — (42 ) Net derivative assets 1,037 59 44 1,140 Loans and leases (2) — — 50 50 Mortgage servicing rights 2 (213 ) — (211 ) Loans held-for-sale (2) (1 ) — (30 ) (31 ) Other assets — (38 ) (8 ) (46 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (3 ) — — (3 ) Trading account liabilities – Corporate securities and other 1 — — 1 Short-term borrowings (2) 4 — — 4 Accrued expenses and other liabilities — — 1 1 Long-term debt (2) 308 — 1 309 Total $ 1,306 $ (192 ) $ 58 $ 1,172 (1) Mortgage banking income (loss) 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, 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, 2016 and December 31, 2015 . Quantitative Information about Level 3 Fair Value Measurements at September 30, 2016 (Dollars in millions) Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1) Instruments backed by residential real estate assets $ 1,688 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 324 Prepayment speed 0% to 37% CPR 14 % Loans and leases 1,353 Default rate 0% to 10% CDR 3 % Loans held-for-sale 11 Loss severity 0% to 100% 45 % Instruments backed by commercial real estate assets $ 295 Discounted cash flow, Market comparables Yield 0% to 25% 12 % Trading account assets – Corporate securities, trading loans and other 219 Price $0 to $100 $69 Trading account assets – Mortgage trading loans and ABS 62 Loans held-for-sale 14 Commercial loans, debt securities and other $ 4,397 Discounted cash flow, Market comparables Yield 0% to 46% 18 % Trading account assets – Corporate securities, trading loans and other 2,304 Prepayment speed 5% to 20% 14 % Trading account assets – Non-U.S. sovereign debt 639 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans and ABS 780 Loss severity 35% to 50% 38 % AFS debt securities – Other taxable securities 110 Duration 0 to 5 years 3 years Loans and leases 2 Price $0 to $205 $70 Loans held-for-sale 562 Auction rate securities $ 1,187 Discounted cash flow, Market comparables Price $10 to $100 $93 Trading account assets – Corporate securities, trading loans and other 39 AFS debt securities – Other taxable securities 577 AFS debt securities – Tax-exempt securities 571 Structured liabilities Long-term debt $ (1,934 ) Discounted cash flow, Market comparables, Industry standard derivative pricing (2) Equity correlation 19% to 100% 68 % Long-dated equity volatilities 4% to 101% 26 % Yield 9% to 46% 18 % Duration 0 to 5 years 2 years Price $0 to $100 $79 Net derivative assets Credit derivatives $ (45 ) Discounted cash flow, Stochastic recovery correlation model Yield 1% to 25% 16 % Upfront points 1 point to 100 points 74 points Credit spreads 18 bps to 924 bps 287 bps Credit correlation 11% to 93% 37 % Prepayment speed 7% to 20% CPR 18 % Default rate 0% to 4% CDR 3 % Loss severity 35 % n/a Equity derivatives $ (1,298 ) Industry standard derivative pricing (2) Equity correlation 19% to 100% 68 % Long-dated equity volatilities 4% to 101% 26 % Commodity derivatives $ 7 Discounted cash flow, Industry standard derivative pricing (2) Natural gas forward price $2/MMBtu to $7/MMBtu $4/MMBtu Correlation 66% to 93% 86 % Volatilities 23% to 71% 36 % Interest rate derivatives $ 349 Industry standard derivative pricing (3) Correlation (IR/IR) 15% to 99% 60 % Correlation (FX/IR) -2% to 40% 3 % Illiquid IR and long-dated inflation rates -12% to 38% 5 % Long-dated inflation volatilities 0% to 2% 1 % Total net derivative assets $ (987 ) (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 163 : Trading account assets – Corporate securities, trading loans and other of $2.6 billion , Trading account assets – Non-U.S. sovereign debt of $639 million , Trading account assets – Mortgage trading loans and ABS of $1.2 billion , AFS debt securities – Other taxable securities of $687 million , AFS debt securities – Tax-exempt securities of $571 million , Loans and leases of $1.4 billion and LHFS of $587 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 = Constant Prepayment Rate CDR = Constant Default Rate MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange n/a = not applicable Quantitative Information about Level 3 Fair Value Measurements at December 31, 2015 (Dollars in millions) Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1) Instruments backed by residential real estate assets $ 2,017 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 400 Prepayment speed 0% to 27% CPR 11 % Loans and leases 1,520 Default rate 0% to 10% CDR 4 % Loans held-for-sale 97 Loss severity 0% to 90% 40 % Instruments backed by commercial real estate assets $ 852 Discounted cash flow, Market comparables Yield 0% to 25% 8 % Trading account assets – Mortgage trading loans and ABS 162 Price $0 to $100 $73 Loans held-for-sale 690 Commercial loans, debt securities and other $ 4,558 Discounted cash flow, Market comparables Yield 0% to 37% 13 % Trading account assets – Corporate securities, trading loans and other 2,503 Prepayment speed 5% to 20% 16 % Trading account assets – Non-U.S. sovereign debt 521 Default rate 2% to 5% 4 % Trading account assets – Mortgage trading loans and ABS 1,306 Loss severity 25% to 50% 37 % AFS debt securities – Other taxable securities 128 Duration 0 to 5 years 3 years Loans and leases 100 Price $0 to $258 $64 Auction rate securities $ 1,533 Discounted cash flow, Market comparables Price $10 to $100 $94 Trading account assets – Corporate securities, trading loans and other 335 AFS debt securities – Other taxable securities 629 AFS debt securities – Tax-exempt securities 569 Structured liabilities Long-term debt $ (1,513 ) Industry standard derivative pricing (2, 3) Equity correlation 25% to 100% 67 % Long-dated equity volatilities 4% to 101% 28 % Net derivative assets Credit derivatives $ (75 ) Discounted cash flow, Stochastic recovery correlation model Yield 6% to 25% 16 % Upfront points 0 to 100 points 60 points Credit spreads 0 bps to 447 bps 111 bps Credit correlation 31% to 99% 38 % Prepayment speed 10% to 20% CPR 19 % Default rate 1% to 4% CDR 3 % Loss severity 35% to 40% 35 % Equity derivatives $ (1,037 ) Industry standard derivative pricing (2) Equity correlation 25% to 100% 67 % Long-dated equity volatilities 4% to 101% 28 % Commodity derivatives $ 169 Discounted cash flow, Industry standard derivative pricing (2) Natural gas forward price $1/MMBtu to $6/MMBtu $4/MMBtu Propane forward price $0/Gallon to $1/Gallon $1/Gallon Correlation 66% to 93% 84 % Volatilities 18% to 125% 39 % Interest rate derivatives $ 502 Industry standard derivative pricing (3) Correlation (IR/IR) 17% to 99% 48 % Correlation (FX/IR) -15% to 40% -9 % Long-dated inflation rates 0% to 7% 3 % Long-dated inflation volatilities 0% to 2% 1 % Total net derivative assets $ (441 ) (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 164 : Trading account assets – Corporate securities, trading loans and other of $2.8 billion , Trading account assets – Non-U.S. sovereign debt of $521 million , Trading account assets – Mortgage trading loans and ABS of $1.9 billion , AFS debt securities – Other taxable securities of $757 million , AFS debt securities – Tax-exempt securities of $569 million , Loans and leases of $1.6 billion and LHFS of $787 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 = Constant Prepayment Rate CDR = Constant Default Rate MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange |
Fair Value Inputs, 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, 2016 and December 31, 2015 . Quantitative Information about Level 3 Fair Value Measurements at September 30, 2016 (Dollars in millions) Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1) Instruments backed by residential real estate assets $ 1,688 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 324 Prepayment speed 0% to 37% CPR 14 % Loans and leases 1,353 Default rate 0% to 10% CDR 3 % Loans held-for-sale 11 Loss severity 0% to 100% 45 % Instruments backed by commercial real estate assets $ 295 Discounted cash flow, Market comparables Yield 0% to 25% 12 % Trading account assets – Corporate securities, trading loans and other 219 Price $0 to $100 $69 Trading account assets – Mortgage trading loans and ABS 62 Loans held-for-sale 14 Commercial loans, debt securities and other $ 4,397 Discounted cash flow, Market comparables Yield 0% to 46% 18 % Trading account assets – Corporate securities, trading loans and other 2,304 Prepayment speed 5% to 20% 14 % Trading account assets – Non-U.S. sovereign debt 639 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans and ABS 780 Loss severity 35% to 50% 38 % AFS debt securities – Other taxable securities 110 Duration 0 to 5 years 3 years Loans and leases 2 Price $0 to $205 $70 Loans held-for-sale 562 Auction rate securities $ 1,187 Discounted cash flow, Market comparables Price $10 to $100 $93 Trading account assets – Corporate securities, trading loans and other 39 AFS debt securities – Other taxable securities 577 AFS debt securities – Tax-exempt securities 571 Structured liabilities Long-term debt $ (1,934 ) Discounted cash flow, Market comparables, Industry standard derivative pricing (2) Equity correlation 19% to 100% 68 % Long-dated equity volatilities 4% to 101% 26 % Yield 9% to 46% 18 % Duration 0 to 5 years 2 years Price $0 to $100 $79 Net derivative assets Credit derivatives $ (45 ) Discounted cash flow, Stochastic recovery correlation model Yield 1% to 25% 16 % Upfront points 1 point to 100 points 74 points Credit spreads 18 bps to 924 bps 287 bps Credit correlation 11% to 93% 37 % Prepayment speed 7% to 20% CPR 18 % Default rate 0% to 4% CDR 3 % Loss severity 35 % n/a Equity derivatives $ (1,298 ) Industry standard derivative pricing (2) Equity correlation 19% to 100% 68 % Long-dated equity volatilities 4% to 101% 26 % Commodity derivatives $ 7 Discounted cash flow, Industry standard derivative pricing (2) Natural gas forward price $2/MMBtu to $7/MMBtu $4/MMBtu Correlation 66% to 93% 86 % Volatilities 23% to 71% 36 % Interest rate derivatives $ 349 Industry standard derivative pricing (3) Correlation (IR/IR) 15% to 99% 60 % Correlation (FX/IR) -2% to 40% 3 % Illiquid IR and long-dated inflation rates -12% to 38% 5 % Long-dated inflation volatilities 0% to 2% 1 % Total net derivative assets $ (987 ) (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 163 : Trading account assets – Corporate securities, trading loans and other of $2.6 billion , Trading account assets – Non-U.S. sovereign debt of $639 million , Trading account assets – Mortgage trading loans and ABS of $1.2 billion , AFS debt securities – Other taxable securities of $687 million , AFS debt securities – Tax-exempt securities of $571 million , Loans and leases of $1.4 billion and LHFS of $587 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 = Constant Prepayment Rate CDR = Constant Default Rate MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange n/a = not applicable Quantitative Information about Level 3 Fair Value Measurements at December 31, 2015 (Dollars in millions) Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1) Instruments backed by residential real estate assets $ 2,017 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 400 Prepayment speed 0% to 27% CPR 11 % Loans and leases 1,520 Default rate 0% to 10% CDR 4 % Loans held-for-sale 97 Loss severity 0% to 90% 40 % Instruments backed by commercial real estate assets $ 852 Discounted cash flow, Market comparables Yield 0% to 25% 8 % Trading account assets – Mortgage trading loans and ABS 162 Price $0 to $100 $73 Loans held-for-sale 690 Commercial loans, debt securities and other $ 4,558 Discounted cash flow, Market comparables Yield 0% to 37% 13 % Trading account assets – Corporate securities, trading loans and other 2,503 Prepayment speed 5% to 20% 16 % Trading account assets – Non-U.S. sovereign debt 521 Default rate 2% to 5% 4 % Trading account assets – Mortgage trading loans and ABS 1,306 Loss severity 25% to 50% 37 % AFS debt securities – Other taxable securities 128 Duration 0 to 5 years 3 years Loans and leases 100 Price $0 to $258 $64 Auction rate securities $ 1,533 Discounted cash flow, Market comparables Price $10 to $100 $94 Trading account assets – Corporate securities, trading loans and other 335 AFS debt securities – Other taxable securities 629 AFS debt securities – Tax-exempt securities 569 Structured liabilities Long-term debt $ (1,513 ) Industry standard derivative pricing (2, 3) Equity correlation 25% to 100% 67 % Long-dated equity volatilities 4% to 101% 28 % Net derivative assets Credit derivatives $ (75 ) Discounted cash flow, Stochastic recovery correlation model Yield 6% to 25% 16 % Upfront points 0 to 100 points 60 points Credit spreads 0 bps to 447 bps 111 bps Credit correlation 31% to 99% 38 % Prepayment speed 10% to 20% CPR 19 % Default rate 1% to 4% CDR 3 % Loss severity 35% to 40% 35 % Equity derivatives $ (1,037 ) Industry standard derivative pricing (2) Equity correlation 25% to 100% 67 % Long-dated equity volatilities 4% to 101% 28 % Commodity derivatives $ 169 Discounted cash flow, Industry standard derivative pricing (2) Natural gas forward price $1/MMBtu to $6/MMBtu $4/MMBtu Propane forward price $0/Gallon to $1/Gallon $1/Gallon Correlation 66% to 93% 84 % Volatilities 18% to 125% 39 % Interest rate derivatives $ 502 Industry standard derivative pricing (3) Correlation (IR/IR) 17% to 99% 48 % Correlation (FX/IR) -15% to 40% -9 % Long-dated inflation rates 0% to 7% 3 % Long-dated inflation volatilities 0% to 2% 1 % Total net derivative assets $ (441 ) (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 164 : Trading account assets – Corporate securities, trading loans and other of $2.8 billion , Trading account assets – Non-U.S. sovereign debt of $521 million , Trading account assets – Mortgage trading loans and ABS of $1.9 billion , AFS debt securities – Other taxable securities of $757 million , AFS debt securities – Tax-exempt securities of $569 million , Loans and leases of $1.6 billion and LHFS of $787 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 = Constant Prepayment Rate CDR = Constant Default Rate MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange |
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The amounts below represent assets still held as of the reporting date for which a nonrecurring fair value adjustment was recorded during the three and nine months ended September 30, 2016 and 2015 . Assets Measured at Fair Value on a Nonrecurring Basis September 30, 2016 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 (Dollars in millions) Level 2 Level 3 Gains (Losses) Assets Loans held-for-sale $ 191 $ 48 $ (1 ) $ (44 ) Loans and leases (1) — 1,333 (143 ) (399 ) Foreclosed properties (2, 3) — 113 (23 ) (41 ) Other assets 173 — (18 ) (44 ) September 30, 2015 Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Assets Loans held-for-sale $ 10 $ 34 $ — $ (7 ) Loans and leases (1) 67 2,363 (228 ) (811 ) Foreclosed properties (2, 3) — 149 (36 ) (58 ) Other assets 39 — (4 ) (8 ) (1) Includes $48 million and $112 million of losses on loans that were written down to a collateral value of zero during the three and nine months ended September 30, 2016 compared to losses of $72 million and $146 million for the same periods in 2015 . (2) Amounts are included in other assets on the Consolidated Balance Sheet and represent the carrying value of foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. Losses on foreclosed properties include losses taken during the first 90 days after transfer of a loan to foreclosed properties. (3) Excludes $1.3 billion of properties acquired upon foreclosure of certain government-guaranteed loans (principally FHA-insured loans) at both September 30, 2016 and 2015 . |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The table below presents information about significant unobservable inputs related to the Corporation's nonrecurring Level 3 financial assets and liabilities at September 30, 2016 and December 31, 2015 . 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. Quantitative Information about Nonrecurring Level 3 Fair Value Measurements September 30, 2016 (Dollars in millions) Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and leases backed by residential real estate assets $ 1,333 Market comparables OREO discount 8% to 56% 21 % Cost to sell 8% to 45% 10 % December 31, 2015 Loans and leases backed by residential real estate assets $ 2,739 Market comparables OREO discount 7% to 55% 20 % Cost to sell 8% to 45% 10 % |
Fair Value Option (Tables)
Fair Value Option (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Option [Abstract] | |
Schedule of 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, 2016 and December 31, 2015 . Fair Value Option Elections September 30, 2016 December 31, 2015 (Dollars in millions) Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Federal funds sold and securities borrowed or purchased under agreements to resell $ 51,638 $ 51,516 $ 122 $ 55,143 $ 54,999 $ 144 Loans reported as trading account assets (1) 5,653 11,134 (5,481 ) 4,995 9,214 (4,219 ) Trading inventory – other 8,701 n/a n/a 8,149 n/a n/a Consumer and commercial loans 8,108 8,132 (24 ) 6,938 7,293 (355 ) Loans held-for-sale 4,652 5,979 (1,327 ) 4,818 6,157 (1,339 ) Other assets 314 250 64 275 270 5 Long-term deposits 913 782 131 1,116 1,021 95 Federal funds purchased and securities loaned or sold under agreements to repurchase 31,868 32,031 (163 ) 24,574 24,718 (144 ) Short-term borrowings 1,055 1,055 — 1,325 1,325 — Unfunded loan commitments 216 n/a n/a 658 n/a n/a Long-term debt (2) 32,619 32,650 (31 ) 30,097 30,593 (496 ) (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) Includes structured liabilities with a fair value of $31.6 billion and $29.0 billion , and contractual principal outstanding of $31.5 billion and $29.4 billion at September 30, 2016 compared to December 31, 2015 . n/a = not applicable The following tables provide 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, 2016 and 2015 . Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Three Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) Other Income (Loss) Total Federal funds sold and securities borrowed or purchased under agreements to resell $ (25 ) $ — $ — $ (25 ) Loans reported as trading account assets 125 — — 125 Trading inventory – other (1) 907 — — 907 Consumer and commercial loans (8 ) — 13 5 Loans held-for-sale (2) 5 132 2 139 Other assets — — 23 23 Long-term deposits 4 — 4 8 Federal funds purchased and securities loaned or sold under agreements to repurchase (3 ) — — (3 ) Unfunded loan commitments — — 133 133 Long-term debt (3, 4) (138 ) — (24 ) (162 ) Total $ 867 $ 132 $ 151 $ 1,150 Three Months Ended September 30, 2015 Federal funds sold and securities borrowed or purchased under agreements to resell $ 7 $ — $ — $ 7 Loans reported as trading account assets (30 ) — — (30 ) Trading inventory – other (1) 273 — — 273 Consumer and commercial loans 11 — (129 ) (118 ) Loans held-for-sale (2) (4 ) 155 11 162 Other assets — — (3 ) (3 ) Long-term deposits (4 ) — (16 ) (20 ) Federal funds purchased and securities loaned or sold under agreements to repurchase (23 ) — — (23 ) Unfunded loan commitments — — (201 ) (201 ) Short-term borrowings 1 — — 1 Long-term debt (3, 4) 1,297 — (54 ) 1,243 Total $ 1,528 $ 155 $ (392 ) $ 1,291 (1) The gains (losses) in trading account profits (losses) are primarily offset by gains (losses) on trading liabilities that hedge these assets. (2) Includes the value of IRLCs on funded loans, including those sold during the period. (3) The majority of the net gains (losses) in trading account profits relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. For more information on the adoption of new accounting guidance relating to DVA on structured liabilities, see Note 1 – Summary of Significant Accounting Principles . (4) For the cumulative impact of changes in the Corporation's own credit spreads and the amount recognized in OCI, see Note 12 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation's own credit spread is determined, see Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Nine Months Ended September 30, 2016 (Dollars in millions) Trading Account Profits (Losses) Mortgage Banking Income (Loss) Other Income (Loss) Total Federal funds sold and securities borrowed or purchased under agreements to resell $ (26 ) $ — $ — $ (26 ) Loans reported as trading account assets 251 — — 251 Trading inventory – other (1) 551 — — 551 Consumer and commercial loans 26 — (8 ) 18 Loans held-for-sale (2) 10 493 57 560 Other assets — — 20 20 Long-term deposits (7 ) — (26 ) (33 ) Unfunded loan commitments — — 444 444 Long-term debt (3, 4) (718 ) — (77 ) (795 ) Total $ 87 $ 493 $ 410 $ 990 Nine Months Ended September 30, 2015 Federal funds sold and securities borrowed or purchased under agreements to resell $ (81 ) $ — $ — $ (81 ) Loans reported as trading account assets (98 ) — — (98 ) Trading inventory – other (1) 447 — — 447 Consumer and commercial loans 40 — (196 ) (156 ) Loans held-for-sale (2) (25 ) 567 99 641 Other assets — — 4 4 Long-term deposits (4 ) — 5 1 Federal funds purchased and securities loaned or sold under agreements to repurchase 25 — — 25 Unfunded loan commitments — — (146 ) (146 ) Long-term debt (3, 4) 1,887 — (604 ) 1,283 Total $ 2,191 $ 567 $ (838 ) $ 1,920 (1) The gains (losses) in trading account profits (losses) are primarily offset by gains (losses) on trading liabilities that hedge these assets. (2) Includes the value of IRLCs on funded loans, including those sold during the period. (3) The majority of the net gains (losses) in trading account profits relate to the embedded derivative in structured liabilities and are offset by gains (losses) on derivatives and securities that hedge these liabilities. For more information on the adoption of new accounting guidance relating to DVA on structured liabilities, see Note 1 – Summary of Significant Accounting Principles . (4) For the cumulative impact of changes in the Corporation's own credit spreads and the amount recognized in OCI, see Note 12 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation's own credit spread is determined, see Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation's 2015 Annual Report on Form 10-K . Gains (Losses) Related to Borrower-specific Credit Risk for Assets Accounted for Under the Fair Value Option Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2016 2015 2016 2015 Loans reported as trading account assets $ — $ 14 $ 5 $ 44 Consumer and commercial loans 14 (88 ) (25 ) (100 ) Loans held-for-sale (10 ) 8 (6 ) 58 |
Fair Value of Financial Instr41
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Carrying and 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, 2016 and December 31, 2015 are presented in the table below. Fair Value of Financial Instruments September 30, 2016 December 31, 2015 Fair Value Fair Value (Dollars in millions) Carrying Value Level 2 Level 3 Total Carrying Value Level 2 Level 3 Total Financial assets Loans $ 872,148 $ 74,098 $ 817,756 $ 891,854 $ 863,561 $ 70,223 $ 805,371 $ 875,594 Loans held-for-sale 10,586 9,627 959 10,586 7,453 5,347 2,106 7,453 Financial liabilities Deposits $ 1,232,895 $ 1,233,110 $ — $ 1,233,110 $ 1,197,259 $ 1,197,577 $ — $ 1,197,577 Long-term debt 225,136 227,794 1,934 229,728 236,764 239,596 1,513 241,109 |
Mortgage Servicing Rights (Tabl
Mortgage Servicing Rights (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Transfers and Servicing [Abstract] | |
Activity for Residential First Mortgage MSRs | The table below presents activity for residential mortgage and home equity MSRs for the three and nine months ended September 30, 2016 and 2015 . Rollforward of Mortgage Servicing Rights Three Months Ended Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Balance, beginning of period $ 2,269 $ 3,521 $ 3,087 $ 3,530 Additions 101 185 307 568 Sales — (87 ) — (399 ) Amortization of expected cash flows (1) (206 ) (213 ) (622 ) (666 ) Changes in fair value due to changes in inputs and assumptions (2) 313 (363 ) (295 ) 10 Balance, September 30 (3) $ 2,477 $ 3,043 $ 2,477 $ 3,043 Mortgage loans serviced for investors (in billions) $ 355 $ 408 $ 355 $ 408 (1) Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. (2) These amounts reflect the changes in modeled MSR fair value due to observed changes in interest rates, volatility, spreads, and the shape of the forward swap curve; periodic adjustments to valuation based on third-party price discovery; and periodic adjustments to the valuation model and other cash flow assumptions. (3) At September 30, 2016 , includes the $1.8 billion core MSR portfolio held in Consumer Banking , the $226 million non-core MSR portfolio held in All Other and the $466 million non-U.S. MSR portfolio held in Global Markets compared to $2.3 billion , $418 million and $344 million at September 30, 2015, respectively. |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The table below presents net income (loss) and the components thereto (with net interest income on an FTE basis) for the three and nine months ended September 30, 2016 and 2015 , and total assets at September 30, 2016 and 2015 for each business segment, as well as All Other . Results of Business Segments and All Other At and for the Three Months Ended September 30 Total Corporation (1) Consumer Banking (Dollars in millions) 2016 2015 2016 2015 Net interest income (FTE basis) $ 10,429 $ 10,127 $ 5,290 $ 5,093 Noninterest income 11,434 11,092 2,678 2,888 Total revenue, net of interest expense (FTE basis) 21,863 21,219 7,968 7,981 Provision for credit losses 850 806 698 523 Noninterest expense 13,481 13,939 4,371 4,711 Income before income taxes (FTE basis) 7,532 6,474 2,899 2,747 Income tax expense (FTE basis) 2,577 1,855 1,086 990 Net income $ 4,955 $ 4,619 $ 1,813 $ 1,757 Period-end total assets $ 2,195,314 $ 2,152,962 $ 687,247 $ 625,158 Global Wealth & Investment Management Global Banking 2016 2015 2016 2015 Net interest income (FTE basis) $ 1,394 $ 1,360 $ 2,470 $ 2,315 Noninterest income 2,985 3,093 2,278 2,021 Total revenue, net of interest expense (FTE basis) 4,379 4,453 4,748 4,336 Provision for credit losses 7 (2 ) 118 181 Noninterest expense 3,257 3,470 2,151 2,161 Income before income taxes (FTE basis) 1,115 985 2,479 1,994 Income tax expense (FTE basis) 418 353 926 716 Net income $ 697 $ 632 $ 1,553 $ 1,278 Period-end total assets $ 289,795 $ 279,237 $ 397,795 $ 376,379 Global Markets All Other 2016 2015 2016 2015 Net interest income (FTE basis) $ 1,119 $ 1,094 $ 156 $ 265 Noninterest income 3,240 2,656 253 434 Total revenue, net of interest expense (FTE basis) 4,359 3,750 409 699 Provision for credit losses 19 42 8 62 Noninterest expense 2,658 2,697 1,044 900 Income (loss) before income taxes (FTE basis) 1,682 1,011 (643 ) (263 ) Income tax expense (benefit) (FTE basis) 608 211 (461 ) (415 ) Net income (loss) $ 1,074 $ 800 $ (182 ) $ 152 Period-end total assets $ 595,165 $ 576,461 $ 225,312 $ 295,727 (1) There were no material intersegment revenues. Results of Business Segments and All Other At and for the Nine Months Ended September 30 Total Corporation (1) Consumer Banking (Dollars in millions) 2016 2015 2016 2015 Net interest income (FTE basis) $ 31,470 $ 29,936 $ 15,825 $ 15,199 Noninterest income 32,907 34,111 7,795 8,314 Total revenue, net of interest expense (FTE basis) 64,377 64,047 23,620 23,513 Provision for credit losses 2,823 2,351 1,955 1,662 Noninterest expense 41,790 43,724 13,324 14,079 Income before income taxes (FTE basis) 19,764 17,972 8,341 7,772 Income tax expense (FTE basis) 6,554 5,420 3,088 2,859 Net income $ 13,210 $ 12,552 $ 5,253 $ 4,913 Period-end total assets $ 2,195,314 $ 2,152,962 $ 687,247 $ 625,158 Global Wealth & Global Banking 2016 2015 2016 2015 Net interest income (FTE basis) $ 4,310 $ 4,081 $ 7,439 $ 6,788 Noninterest income 8,963 9,475 6,457 6,272 Total revenue, net of interest expense (FTE basis) 13,273 13,556 13,896 13,060 Provision for credit losses 46 36 870 454 Noninterest expense 9,822 10,446 6,449 6,396 Income before income taxes (FTE basis) 3,405 3,074 6,577 6,210 Income tax expense (FTE basis) 1,267 1,130 2,435 2,286 Net income $ 2,138 $ 1,944 $ 4,142 $ 3,924 Period-end total assets $ 289,795 $ 279,237 $ 397,795 $ 376,379 Global Markets All Other 2016 2015 2016 2015 Net interest income (FTE basis) $ 3,391 $ 3,059 $ 505 $ 809 Noninterest income 9,227 8,837 465 1,213 Total revenue, net of interest expense (FTE basis) 12,618 11,896 970 2,022 Provision for credit losses 23 69 (71 ) 130 Noninterest expense 7,690 8,606 4,505 4,197 Income (loss) before income taxes (FTE basis) 4,905 3,221 (3,464 ) (2,305 ) Income tax expense (benefit) (FTE basis) 1,746 968 (1,982 ) (1,823 ) Net income (loss) $ 3,159 $ 2,253 $ (1,482 ) $ (482 ) Period-end total assets $ 595,165 $ 576,461 $ 225,312 $ 295,727 (1) There were no material intersegment revenues. |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The table below presents a reconciliation of the four business segments' total revenue, net of interest expense, on an 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) 2016 2015 2016 2015 Segments' total revenue, net of interest expense (FTE basis) $ 21,454 $ 20,520 $ 63,407 $ 62,025 Adjustments: ALM activities (46 ) 336 (20 ) 453 Liquidating businesses and other 455 363 990 1,569 FTE basis adjustment (228 ) (227 ) (666 ) (664 ) Consolidated revenue, net of interest expense $ 21,635 $ 20,992 $ 63,711 $ 63,383 Segments' total net income $ 5,137 $ 4,467 $ 14,692 $ 13,034 Adjustments, net-of-taxes: ALM activities (138 ) 71 (349 ) (140 ) Liquidating businesses and other (44 ) 81 (1,133 ) (342 ) Consolidated net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 September 30 2016 2015 Segments' total assets $ 1,970,002 $ 1,857,235 Adjustments: ALM activities, including securities portfolio 616,804 610,525 Liquidating businesses and other 116,989 147,140 Elimination of segment asset allocations to match liabilities (508,481 ) (461,938 ) Consolidated total assets $ 2,195,314 $ 2,152,962 |
Reconciliation of Revenue from Segments to Consolidated | The table below presents a reconciliation of the four business segments' total revenue, net of interest expense, on an 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) 2016 2015 2016 2015 Segments' total revenue, net of interest expense (FTE basis) $ 21,454 $ 20,520 $ 63,407 $ 62,025 Adjustments: ALM activities (46 ) 336 (20 ) 453 Liquidating businesses and other 455 363 990 1,569 FTE basis adjustment (228 ) (227 ) (666 ) (664 ) Consolidated revenue, net of interest expense $ 21,635 $ 20,992 $ 63,711 $ 63,383 Segments' total net income $ 5,137 $ 4,467 $ 14,692 $ 13,034 Adjustments, net-of-taxes: ALM activities (138 ) 71 (349 ) (140 ) Liquidating businesses and other (44 ) 81 (1,133 ) (342 ) Consolidated net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 September 30 2016 2015 Segments' total assets $ 1,970,002 $ 1,857,235 Adjustments: ALM activities, including securities portfolio 616,804 610,525 Liquidating businesses and other 116,989 147,140 Elimination of segment asset allocations to match liabilities (508,481 ) (461,938 ) Consolidated total assets $ 2,195,314 $ 2,152,962 |
Reconciliation of Assets from Segment to Consolidated | The table below presents a reconciliation of the four business segments' total revenue, net of interest expense, on an 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) 2016 2015 2016 2015 Segments' total revenue, net of interest expense (FTE basis) $ 21,454 $ 20,520 $ 63,407 $ 62,025 Adjustments: ALM activities (46 ) 336 (20 ) 453 Liquidating businesses and other 455 363 990 1,569 FTE basis adjustment (228 ) (227 ) (666 ) (664 ) Consolidated revenue, net of interest expense $ 21,635 $ 20,992 $ 63,711 $ 63,383 Segments' total net income $ 5,137 $ 4,467 $ 14,692 $ 13,034 Adjustments, net-of-taxes: ALM activities (138 ) 71 (349 ) (140 ) Liquidating businesses and other (44 ) 81 (1,133 ) (342 ) Consolidated net income $ 4,955 $ 4,619 $ 13,210 $ 12,552 September 30 2016 2015 Segments' total assets $ 1,970,002 $ 1,857,235 Adjustments: ALM activities, including securities portfolio 616,804 610,525 Liquidating businesses and other 116,989 147,140 Elimination of segment asset allocations to match liabilities (508,481 ) (461,938 ) Consolidated total assets $ 2,195,314 $ 2,152,962 |
Summary of Significant Accoun44
Summary of Significant Accounting Principles (Details) - Nonrefundable Fees and Other Costs, Prepayment Method - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2014 | |
Change in Accounting Estimate [Line Items] | |||||
Increase (decrease) in net interest income | $ 905 | $ 429 | $ 2,200 | $ (71) | |
Increase (decrease) in gains on sales of debt securities | 18 | 52 | 54 | 65 | |
Increase (decrease) in net income | $ 551 | $ 298 | $ 1,300 | $ 0 | |
Increase (decrease) in earnings per diluted share | $ 0.05 | $ 0.03 | $ 0.13 | $ 0 | |
Cumulative effect of change on retained earnings | $ (293) |
Derivatives - Derivative Balanc
Derivatives - Derivative Balances (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | $ 788,400 | $ 688,600 |
Less: Legally enforceable master netting agreements | (694,000) | (596,700) |
Less: Cash collateral received/paid | (46,500) | (41,900) |
Derivative assets | 47,896 | 49,990 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 782,600 | 681,100 |
Less: Legally enforceable master netting agreements | (694,000) | (596,700) |
Less: Cash collateral received/paid | (45,100) | (45,900) |
Derivative liabilities | 43,484 | 38,450 |
Interest Rate Swap | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 17,341,700 | 21,706,800 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 558,500 | 447,000 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 548,800 | 442,000 |
Interest Rate Future and Forward | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 6,196,400 | 6,237,600 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,300 | 1,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,300 | 1,300 |
Interest Rate Option | Written options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 1,287,700 | 1,313,800 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 73,400 | 57,600 |
Interest Rate Option | Purchased options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 1,343,300 | 1,393,300 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 73,500 | 58,900 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Foreign Exchange Swap | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 1,949,900 | 2,149,900 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 42,600 | 50,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 47,200 | 55,000 |
Foreign Exchange Spot Future And Forward | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 4,191,700 | 4,104,300 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 42,600 | 47,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 41,900 | 46,100 |
Foreign Exchange Option | Written options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 376,200 | 467,200 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 8,000 | 10,600 |
Foreign Exchange Option | Purchased options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 355,000 | 439,900 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 7,600 | 10,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Equity Swap | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 194,400 | 201,200 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 3,100 | 3,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 3,500 | 3,800 |
Equity Future and Forward | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 79,700 | 72,800 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,600 | 2,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,100 | 1,200 |
Equity Option | Written options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 463,200 | 347,600 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 25,700 | 21,100 |
Equity Option | Purchased options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 417,900 | 320,300 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 24,900 | 23,800 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Commodity Swap | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 48,900 | 47,000 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 2,800 | 4,700 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 5,300 | 7,100 |
Commodity Future and Forward | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 50,500 | 45,600 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 3,500 | 3,800 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 400 | 700 |
Commodity Option | Written options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 36,000 | 36,600 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 2,600 | 4,400 |
Commodity Option | Purchased options | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 35,700 | 37,400 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 2,500 | 4,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Credit Default Swaps | Purchased credit derivatives | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 811,800 | 928,300 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 9,100 | 14,400 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 13,100 | 14,800 |
Credit Default Swaps | Written credit derivatives | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 803,211 | 924,143 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 13,400 | 15,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 8,199 | 13,124 |
Total Return Swaps/Other | Purchased credit derivatives | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 31,500 | 26,400 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 200 | 200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,700 | 1,900 |
Total Return Swaps/Other | Written credit derivatives | ||
Notional Amount of Derivatives, [Abstract] | ||
Contract/Notional | 43,228 | 39,658 |
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,200 | 2,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 350 | 422 |
Trading and Other Risk Management Derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 775,700 | 679,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 778,100 | 676,800 |
Trading and Other Risk Management Derivatives | Interest Rate Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 548,500 | 439,600 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 548,000 | 440,800 |
Trading and Other Risk Management Derivatives | Interest Rate Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,300 | 1,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,300 | 1,300 |
Trading and Other Risk Management Derivatives | Interest Rate Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 73,400 | 57,600 |
Trading and Other Risk Management Derivatives | Interest Rate Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 73,500 | 58,900 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Trading and Other Risk Management Derivatives | Foreign Exchange Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 41,400 | 49,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 44,300 | 52,200 |
Trading and Other Risk Management Derivatives | Foreign Exchange Spot Future And Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 41,100 | 46,000 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 41,100 | 45,800 |
Trading and Other Risk Management Derivatives | Foreign Exchange Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 8,000 | 10,600 |
Trading and Other Risk Management Derivatives | Foreign Exchange Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 7,600 | 10,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Trading and Other Risk Management Derivatives | Equity Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 3,100 | 3,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 3,500 | 3,800 |
Trading and Other Risk Management Derivatives | Equity Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,600 | 2,100 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,100 | 1,200 |
Trading and Other Risk Management Derivatives | Equity Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 25,700 | 21,100 |
Trading and Other Risk Management Derivatives | Equity Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 24,900 | 23,800 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Trading and Other Risk Management Derivatives | Commodity Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 2,800 | 4,700 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 5,300 | 7,100 |
Trading and Other Risk Management Derivatives | Commodity Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 3,500 | 3,800 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 400 | 700 |
Trading and Other Risk Management Derivatives | Commodity Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 2,600 | 4,400 |
Trading and Other Risk Management Derivatives | Commodity Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 2,500 | 4,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Trading and Other Risk Management Derivatives | Credit Default Swaps | Purchased credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 9,100 | 14,400 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 13,100 | 14,800 |
Trading and Other Risk Management Derivatives | Credit Default Swaps | Written credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 13,400 | 15,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 8,200 | 13,100 |
Trading and Other Risk Management Derivatives | Total Return Swaps/Other | Purchased credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 200 | 200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 1,700 | 1,900 |
Trading and Other Risk Management Derivatives | Total Return Swaps/Other | Written credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,200 | 2,300 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 400 | 400 |
Qualifying Accounting Hedges | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 12,700 | 9,500 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 4,500 | 4,300 |
Qualifying Accounting Hedges | Interest Rate Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 10,000 | 7,400 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 800 | 1,200 |
Qualifying Accounting Hedges | Interest Rate Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Interest Rate Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Interest Rate Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Foreign Exchange Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,200 | 900 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 2,900 | 2,800 |
Qualifying Accounting Hedges | Foreign Exchange Spot Future And Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 1,500 | 1,200 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 800 | 300 |
Qualifying Accounting Hedges | Foreign Exchange Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Foreign Exchange Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Equity Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Equity Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Equity Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Equity Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Commodity Swap | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Commodity Future and Forward | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Commodity Option | Written options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Commodity Option | Purchased options | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Credit Default Swaps | Purchased credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Credit Default Swaps | Written credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Total Return Swaps/Other | Purchased credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | 0 | 0 |
Qualifying Accounting Hedges | Total Return Swaps/Other | Written credit derivatives | ||
Derivative Assets [Abstract] | ||
Gross Derivative Assets | 0 | 0 |
Derivative Liabilities [Abstract] | ||
Gross Derivative Liabilities | $ 0 | $ 0 |
Derivatives - Offsetting Assets
Derivatives - Offsetting Assets (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Derivative assets, after netting | $ 34,000 | $ 37,900 |
Other gross derivative assets | 13,900 | 12,100 |
Derivative assets | 47,896 | 49,990 |
Less: Financial instruments collateral | (14,600) | (13,900) |
Total net derivative assets | 33,300 | 36,100 |
Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 496,800 | 461,000 |
Less: Legally enforceable master netting agreements and cash collateral received | (466,400) | (426,600) |
Exchange-traded | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 12,900 | 11,800 |
Less: Legally enforceable master netting agreements and cash collateral received | (9,700) | (8,700) |
Over-the-counter cleared | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 264,800 | 203,700 |
Less: Legally enforceable master netting agreements and cash collateral received | (264,400) | (203,300) |
Interest rate contracts | Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 370,800 | 309,300 |
Interest rate contracts | Over-the-counter cleared | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 258,500 | 197,000 |
Foreign exchange contracts | Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 89,500 | 103,200 |
Foreign exchange contracts | Over-the-counter cleared | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 400 | 100 |
Equity contracts | Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 15,100 | 16,600 |
Equity contracts | Exchange-traded | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 11,600 | 10,000 |
Commodity contracts | Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 4,100 | 7,300 |
Commodity contracts | Exchange-traded | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 1,300 | 1,800 |
Commodity contracts | Over-the-counter cleared | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 0 | 100 |
Credit derivatives | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 28 | 24 |
Credit derivatives | Over-the-counter | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | 17,300 | 24,600 |
Credit derivatives | Over-the-counter cleared | ||
Offsetting Assets [Line Items] | ||
Total gross derivative assets, before netting | $ 5,900 | $ 6,500 |
Derivatives - Offsetting Liabil
Derivatives - Offsetting Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Derivative liabilities, after netting | $ 31,500 | $ 27,200 |
Other gross derivative liabilities | 12,000 | 11,300 |
Derivative liabilities | 43,484 | 38,450 |
Less: Financial instruments collateral | (14,100) | (6,500) |
Total net derivative liabilities | 29,400 | 32,000 |
Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 489,000 | 450,500 |
Less: Legally enforceable master netting agreements and cash collateral paid | (463,600) | (425,700) |
Exchange-traded | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 15,700 | 11,000 |
Less: Legally enforceable master netting agreements and cash collateral paid | (9,700) | (8,700) |
Over-the-counter cleared | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 265,900 | 208,300 |
Less: Legally enforceable master netting agreements and cash collateral paid | (265,800) | (208,200) |
Interest rate contracts | Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 359,100 | 297,200 |
Interest rate contracts | Over-the-counter cleared | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 259,800 | 201,700 |
Foreign exchange contracts | Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 94,000 | 107,500 |
Foreign exchange contracts | Over-the-counter cleared | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 300 | 100 |
Equity contracts | Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 13,500 | 14,000 |
Equity contracts | Exchange-traded | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 14,300 | 9,200 |
Commodity contracts | Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 5,400 | 8,900 |
Commodity contracts | Exchange-traded | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 1,400 | 1,800 |
Commodity contracts | Over-the-counter cleared | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 0 | 100 |
Credit derivatives | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 30 | 29 |
Credit derivatives | Over-the-counter | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | 17,000 | 22,900 |
Credit derivatives | Over-the-counter cleared | ||
Offsetting Liabilities [Line Items] | ||
Total gross derivative liabilities, before netting | $ 5,800 | $ 6,400 |
Derivatives - Derivatives Desig
Derivatives - Derivatives Designated as Accounting Hedges - Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Derivative | $ (501) | $ 1,779 | $ 3,395 | $ (616) |
Hedged Item | 314 | (1,989) | (3,943) | (111) |
Hedge Ineffectiveness | (187) | (210) | (548) | (727) |
Interest rate risk on long-term debt | Interest expense | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Derivative | (758) | 1,921 | 3,166 | 724 |
Hedged Item | 580 | (2,111) | (3,654) | (1,362) |
Hedge Ineffectiveness | (178) | (190) | (488) | (638) |
Interest rate and foreign currency risk on long-term debt | Interest expense | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Derivative | 16 | (138) | 360 | (1,394) |
Hedged Item | (10) | 125 | (369) | 1,311 |
Hedge Ineffectiveness | 6 | (13) | (9) | (83) |
Interest rate risk on AFS securities | Interest income | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Derivative | 235 | (6) | (131) | 39 |
Hedged Item | (250) | (1) | 80 | (49) |
Hedge Ineffectiveness | (15) | (7) | (51) | (10) |
Price risk on commodity inventory | Trading gain (loss) | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Derivative | 6 | 2 | 0 | 15 |
Hedged Item | (6) | (2) | 0 | (11) |
Hedge Ineffectiveness | $ 0 | $ 0 | $ 0 | $ 4 |
Derivatives - Derivatives Des49
Derivatives - Derivatives Designated as Accounting Hedges - Cash Flow and Net Investment Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flow hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (Losses) Recognized in Accumulated OCI on Derivatives | $ 77 | $ (18) | $ (64) | $ (42) |
Gains (Losses) in Income Reclassified from Accumulated OCI | (127) | (224) | (508) | (711) |
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | (4) | 4 | 2 | 3 |
Interest rate risk on variable-rate portfolios | Cash flow hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (Losses) Recognized in Accumulated OCI on Derivatives | (8) | 94 | 50 | 99 |
Gains (Losses) in Income Reclassified from Accumulated OCI | (119) | (254) | (447) | (768) |
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | (4) | 4 | 2 | 3 |
Price risk on restricted stock awards | Cash flow hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (Losses) Recognized in Accumulated OCI on Derivatives | 85 | (112) | (114) | (141) |
Gains (Losses) in Income Reclassified from Accumulated OCI | (8) | 30 | (61) | 57 |
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | 0 | 0 | 0 | 0 |
Foreign exchange risk | Net investment hedges | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (Losses) Recognized in Accumulated OCI on Derivatives | 214 | 1,407 | 173 | 2,397 |
Gains (Losses) in Income Reclassified from Accumulated OCI | 2 | 14 | 3 | 98 |
Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing | $ (68) | $ (98) | $ (234) | $ (185) |
Derivatives - Economic Hedges (
Derivatives - Economic Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Other | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | $ 0 | $ 22 | $ 40 | $ 15 |
Interest rate lock commitments | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | 185 | 184 | 514 | 611 |
Mortgage banking income | Interest rate risk on mortgage banking income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | 57 | 474 | 882 | 380 |
Other income | Credit risk on loans | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | (7) | 24 | (103) | (34) |
Other income | Interest rate and foreign currency risk on ALM activities | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | (262) | (527) | (1,970) | (202) |
Personnel expense | Price risk on restricted stock awards | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives not designated as hedging | $ 199 | $ (229) | $ (569) | $ (473) |
Derivatives - Sales and Trading
Derivatives - Sales and Trading Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | $ 2,141 | $ 1,616 | $ 5,821 | $ 5,510 |
Brokerage commissions and asset management fee revenue | Global Markets | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 485 | 568 | 1,600 | 1,700 |
Trading Securities | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 3,553 | 3,112 | 10,444 | 9,628 |
Trading Securities | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 1,934 | 1,471 | 5,401 | 5,312 |
Trading Securities | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 976 | 957 | 2,958 | 2,647 |
Trading Securities | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 643 | 684 | 2,085 | 1,669 |
Trading Securities | Interest rate risk | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 900 | 788 | 2,708 | 1,866 |
Trading Securities | Interest rate risk | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 514 | 405 | 1,438 | 1,269 |
Trading Securities | Interest rate risk | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 304 | 333 | 1,063 | 924 |
Trading Securities | Interest rate risk | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 82 | 50 | 207 | (327) |
Trading Securities | Foreign exchange risk | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 276 | 270 | 885 | 947 |
Trading Securities | Foreign exchange risk | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 319 | 310 | 1,003 | 1,052 |
Trading Securities | Foreign exchange risk | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | (4) | (4) | (7) | (6) |
Trading Securities | Foreign exchange risk | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | (39) | (36) | (111) | (99) |
Trading Securities | Equity risk | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 958 | 1,143 | 3,063 | 3,448 |
Trading Securities | Equity risk | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 461 | 558 | 1,478 | 1,795 |
Trading Securities | Equity risk | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 30 | 38 | 11 | 15 |
Trading Securities | Equity risk | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 467 | 547 | 1,574 | 1,638 |
Trading Securities | Credit risk | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 1,359 | 797 | 3,508 | 3,007 |
Trading Securities | Credit risk | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 597 | 84 | 1,218 | 825 |
Trading Securities | Credit risk | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 639 | 614 | 1,910 | 1,776 |
Trading Securities | Credit risk | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 123 | 99 | 380 | 406 |
Trading Securities | Other risk | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 60 | 114 | 280 | 360 |
Trading Securities | Other risk | Trading Account Profits | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 43 | 114 | 264 | 371 |
Trading Securities | Other risk | Net Interest Income | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | 7 | (24) | (19) | (62) |
Trading Securities | Other risk | Other | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Sales and trading revenue | $ 10 | $ 24 | $ 35 | $ 51 |
Derivatives - Credit Derivative
Derivatives - Credit Derivatives (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Carrying Value of Derivatives [Abstract] | ||
Total | $ 782,600 | $ 681,100 |
Carrying Value of Credit-Related Notes [Abstract] | ||
Less than One Year | 56 | 328 |
One to Three Years | 115 | 175 |
Three to Five Years | 674 | 561 |
Over Five Years | 2,690 | 3,467 |
Total | 3,535 | 4,531 |
Credit derivatives | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 801 | 932 |
One to Three Years | 1,327 | 3,752 |
Three to Five Years | 1,703 | 4,597 |
Over Five Years | 4,718 | 4,265 |
Total | 8,549 | 13,546 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 280,047 | 261,448 |
One to Three Years | 314,041 | 423,497 |
Three to Five Years | 196,623 | 233,660 |
Over Five Years | 55,728 | 45,196 |
Total | 846,439 | 963,801 |
Credit Default Swaps | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 483 | 756 |
One to Three Years | 1,300 | 3,516 |
Three to Five Years | 1,701 | 4,589 |
Over Five Years | 4,715 | 4,263 |
Total | 8,199 | 13,124 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 243,125 | 230,773 |
One to Three Years | 308,556 | 416,508 |
Three to Five Years | 196,032 | 232,289 |
Over Five Years | 55,498 | 44,573 |
Total | 803,211 | 924,143 |
Total return swaps/other | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 318 | 176 |
One to Three Years | 27 | 236 |
Three to Five Years | 2 | 8 |
Over Five Years | 3 | 2 |
Total | 350 | 422 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 36,922 | 30,675 |
One to Three Years | 5,485 | 6,989 |
Three to Five Years | 591 | 1,371 |
Over Five Years | 230 | 623 |
Total | 43,228 | 39,658 |
Investment grade | ||
Carrying Value of Credit-Related Notes [Abstract] | ||
Less than One Year | 1 | 267 |
One to Three Years | 57 | 57 |
Three to Five Years | 589 | 444 |
Over Five Years | 1,486 | 2,203 |
Total | 2,133 | 2,971 |
Investment grade | Credit Default Swaps | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 22 | 84 |
One to Three Years | 59 | 481 |
Three to Five Years | 526 | 2,203 |
Over Five Years | 918 | 680 |
Total | 1,525 | 3,448 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 156,227 | 149,177 |
One to Three Years | 210,797 | 280,658 |
Three to Five Years | 142,483 | 178,990 |
Over Five Years | 33,151 | 26,352 |
Total | 542,658 | 635,177 |
Investment grade | Total return swaps/other | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 13 | 5 |
One to Three Years | 0 | 0 |
Three to Five Years | 0 | 0 |
Over Five Years | 0 | 0 |
Total | 13 | 5 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 12,623 | 9,758 |
One to Three Years | 0 | 0 |
Three to Five Years | 0 | 0 |
Over Five Years | 0 | 0 |
Total | 12,623 | 9,758 |
Non-investment grade | ||
Carrying Value of Credit-Related Notes [Abstract] | ||
Less than One Year | 55 | 61 |
One to Three Years | 58 | 118 |
Three to Five Years | 85 | 117 |
Over Five Years | 1,204 | 1,264 |
Total | 1,402 | 1,560 |
Non-investment grade | Credit Default Swaps | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 461 | 672 |
One to Three Years | 1,241 | 3,035 |
Three to Five Years | 1,175 | 2,386 |
Over Five Years | 3,797 | 3,583 |
Total | 6,674 | 9,676 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 86,898 | 81,596 |
One to Three Years | 97,759 | 135,850 |
Three to Five Years | 53,549 | 53,299 |
Over Five Years | 22,347 | 18,221 |
Total | 260,553 | 288,966 |
Non-investment grade | Total return swaps/other | Written credit derivatives | ||
Carrying Value of Derivatives [Abstract] | ||
Less than One Year | 305 | 171 |
One to Three Years | 27 | 236 |
Three to Five Years | 2 | 8 |
Over Five Years | 3 | 2 |
Total | 337 | 417 |
Notional Amount of Derivatives, [Abstract] | ||
Less than One Year | 24,299 | 20,917 |
One to Three Years | 5,485 | 6,989 |
Three to Five Years | 591 | 1,371 |
Over Five Years | 230 | 623 |
Total | $ 30,605 | $ 29,900 |
Derivatives - Credit-related Co
Derivatives - Credit-related Contingent Features and Collateral (Details) $ in Millions | Sep. 30, 2016USD ($) |
Derivative [Line Items] | |
Additional collateral required to be posted upon downgrade, one incremental notch | $ 792 |
Additional collateral required to be posted upon downgrade, second incremental notch | 2,506 |
Credit derivatives | |
Derivative [Line Items] | |
Derivative liability subject to unilateral termination upon downgrade, one incremental notch | 1,014 |
Derivative liability subject to unilateral termination upon downgrade, second incremental notch | 3,935 |
Collateral posted subject to unilateral termination upon downgrade, one incremental notch | 703 |
Collateral posted subject to unilateral termination upon downgrade, second incremental notch | 3,649 |
Bank of America, N.A. | |
Derivative [Line Items] | |
Additional collateral required to be posted upon downgrade, one incremental notch | 611 |
Additional collateral required to be posted upon downgrade, second incremental notch | $ 2,045 |
Derivatives - Derivative Valuat
Derivatives - Derivative Valuation Adjustments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
Valuation adjustments on derivative assets, gross | $ 280 | $ (138) | $ 45 | $ 85 | |
Funding valuation adjustment on derivative assets/liabilities, gross | 42 | (48) | 9 | 17 | |
Valuation adjustments on derivative liabilities, gross | (125) | 132 | 106 | 141 | |
Valuation adjustments on derivative assets, net | 66 | 67 | 151 | 174 | |
Funding valuation adjustment on derivative assets/liabilities, net | 51 | (48) | 20 | 17 | |
Valuation adjustments on derivative liabilities, net | (103) | $ 66 | (60) | $ 16 | |
Cumulative credit valuation adjustment | 1,300 | 1,300 | $ 1,400 | ||
Cumulative funding valuation adjustment | 472 | 472 | 481 | ||
Cumulative debit valuation adjustment | $ 856 | $ 856 | $ 750 |
Derivatives - Narrative (Detail
Derivatives - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||||
After-tax net loss on derivatives in AOCI | $ (270,083) | $ (256,176) | $ (255,861) | $ (243,476) |
Net losses in AOCI expected to be reclassified to earnings, after tax | 245 | |||
Net losses in AOCI expected to be reclassified to earnings, before tax | $ 392 | |||
Terminated cash flow hedges, forecasted transaction hedging period | 7 years | |||
Funding valuation adjustment on derivative liabilities, net | 20 years | |||
Credit derivatives | ||||
Derivative [Line Items] | ||||
Fair value of derivative | $ 6,700 | 7,200 | ||
Derivative assets | 28 | 24 | ||
Total gross derivative liabilities, before netting | 30 | 29 | ||
Cash and securities held as collateral | 86,100 | 78,900 | ||
Cash and securities collateral posted | 70,600 | 62,700 | ||
Collateral not yet posted | 2,500 | |||
Aggregate fair value of derivative liability | 44 | |||
Credit derivatives | Bank of America, N.A. | ||||
Derivative [Line Items] | ||||
Collateral not yet posted | 1,600 | |||
Credit derivatives | Purchased credit derivatives | ||||
Derivative [Line Items] | ||||
Carrying value of written credit derivatives | 4,900 | 8,200 | ||
Notional amount of written credit derivatives | 623,000 | 706,000 | ||
Foreign Mortgage-backed Securities and Foreign Securities | ||||
Derivative [Line Items] | ||||
Marketable securities transferred | 6,900 | 7,900 | ||
Proceeds from sale of securities | 6,900 | 7,900 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | ||||
Derivative [Line Items] | ||||
After-tax net loss on derivatives in AOCI | 800 | $ 1,077 | $ 1,245 | $ 1,661 |
Net unrealized loss on AFS debt securities, before tax | $ 1,300 |
Securities - Amortized Cost, Ga
Securities - Amortized Cost, Gains and Losses, and Fair Value Available-for-sale (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale debt securities | ||||
Amortized Cost | $ 295,913 | $ 305,750 | ||
Gross Unrealized Gains | 5,624 | 1,813 | ||
Gross Unrealized Losses | (157) | (1,790) | ||
Fair Value | 301,380 | 305,773 | ||
Other debt securities carried at fair value | ||||
Amortized Cost | 21,222 | 16,678 | ||
Gross Unrealized Gains | 114 | 103 | ||
Gross Unrealized Losses | (211) | (174) | ||
Fair Value | 21,125 | 16,607 | ||
Total debt securities carried at fair value | ||||
Amortized Cost | 317,135 | 322,428 | ||
Gross Unrealized Gains | 5,738 | 1,916 | ||
Gross Unrealized Losses | 368 | 1,964 | ||
Debt securities carried at fair value | 322,505 | 322,380 | ||
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities | ||||
Amortized Cost | 112,409 | 84,508 | ||
Gross Unrealized Gains | 1,647 | 330 | ||
Gross Unrealized Losses | (91) | (792) | ||
Held-to-maturity, fair value | 113,965 | 84,046 | ||
Total debt securities | ||||
Amortized Cost | 429,544 | 406,936 | ||
Gross Unrealized Gains | 7,385 | 2,246 | ||
Gross Unrealized Losses | 459 | 2,756 | ||
Fair Value | 436,470 | 406,426 | ||
Available-for-sale marketable equity securities | ||||
Net unrealized gain on AFS debt securities | 270,083 | 256,176 | $ 255,861 | $ 243,476 |
Nonperforming Financing Receivable | ||||
Available-for-sale debt securities | ||||
Fair Value | 125 | 188 | ||
FNMA Insured Loans | ||||
Total debt securities carried at fair value | ||||
Amortized Cost | 154,700 | 145,800 | ||
Debt securities carried at fair value | 158,000 | 145,500 | ||
FHLMC Insured Loans | ||||
Total debt securities carried at fair value | ||||
Amortized Cost | 51,100 | 53,300 | ||
Debt securities carried at fair value | 52,400 | 53,200 | ||
Securities financing agreements | ||||
Available-for-sale marketable equity securities | ||||
Amortized Cost | 325 | 326 | ||
Gross Unrealized Gains | 57 | 99 | ||
Gross Unrealized Losses | (28) | 0 | ||
Fair Value | 354 | 425 | ||
Agency | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 196,808 | 229,356 | ||
Gross Unrealized Gains | 4,266 | 1,061 | ||
Gross Unrealized Losses | (23) | (1,470) | ||
Fair Value | 201,051 | 228,947 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 201,051 | |||
Agency-collateralized mortgage obligations | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 8,862 | 10,892 | ||
Gross Unrealized Gains | 243 | 148 | ||
Gross Unrealized Losses | (24) | (55) | ||
Fair Value | 9,081 | 10,985 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 9,087 | |||
Commercial | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 12,555 | 7,200 | ||
Gross Unrealized Gains | 383 | 30 | ||
Gross Unrealized Losses | (2) | (65) | ||
Fair Value | 12,936 | 7,165 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 12,936 | |||
Non-agency residential | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 1,476 | 3,031 | ||
Gross Unrealized Gains | 180 | 219 | ||
Gross Unrealized Losses | (38) | (71) | ||
Fair Value | 1,618 | $ 3,179 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | $ 4,811 | |||
Non-agency residential | Prime | ||||
Available-for-sale marketable equity securities | ||||
Available-for-sale securities, percent held by rating | 57.00% | 71.00% | ||
Non-agency residential | Alt-A Loan | ||||
Available-for-sale marketable equity securities | ||||
Available-for-sale securities, percent held by rating | 25.00% | 15.00% | ||
Non-agency residential | Subprime | ||||
Available-for-sale marketable equity securities | ||||
Available-for-sale securities, percent held by rating | 18.00% | 14.00% | ||
Total mortgage-backed securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | $ 219,701 | $ 250,479 | ||
Gross Unrealized Gains | 5,072 | 1,458 | ||
Gross Unrealized Losses | (87) | (1,661) | ||
Fair Value | 224,686 | 250,276 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 227,885 | |||
U.S. Treasury and agency securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 44,925 | 25,075 | ||
Gross Unrealized Gains | 363 | 211 | ||
Gross Unrealized Losses | (4) | (9) | ||
Fair Value | 45,284 | 25,277 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 45,284 | |||
Non-U.S. securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 5,995 | 5,743 | ||
Gross Unrealized Gains | 19 | 27 | ||
Gross Unrealized Losses | (4) | (3) | ||
Fair Value | 6,010 | 5,767 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 23,690 | |||
Other taxable securities, substantially all asset-backed securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 9,375 | 10,475 | ||
Gross Unrealized Gains | 73 | 54 | ||
Gross Unrealized Losses | (32) | (84) | ||
Fair Value | 9,416 | 10,445 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 9,662 | |||
Total taxable securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 279,996 | 291,772 | ||
Gross Unrealized Gains | 5,527 | 1,750 | ||
Gross Unrealized Losses | (127) | (1,757) | ||
Fair Value | 285,396 | 291,765 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 306,521 | |||
Tax-exempt securities | ||||
Available-for-sale debt securities | ||||
Amortized Cost | 15,917 | 13,978 | ||
Gross Unrealized Gains | 97 | 63 | ||
Gross Unrealized Losses | (30) | (33) | ||
Fair Value | 15,984 | 14,008 | ||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 15,984 | |||
Debt securities | ||||
Total debt securities carried at fair value | ||||
Debt securities carried at fair value | 322,505 | |||
Available-for-sale marketable equity securities | ||||
Accumulated other comprehensive income tax expense | 2,100 | |||
Debt securities | Available-for-sale debt securities | ||||
Available-for-sale marketable equity securities | ||||
Net unrealized gain on AFS debt securities | $ 3,378 | $ 16 | $ 1,810 | $ 1,641 |
Securities - Other Debt Securit
Securities - Other Debt Securities Carried at Fair Value (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | $ 21,125 | $ 21,125 | $ 16,607 | ||
Other income | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Unrealized mark-to-market net gains (losses) | 47 | $ 212 | (25) | $ 57 | |
Realized net gains (losses) | (28) | $ (147) | (65) | $ (168) | |
Other debt securities carried at fair value | 21,125 | 21,125 | 16,607 | ||
Other income | Agency-collateralized mortgage obligations | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | 6 | 6 | 7 | ||
Other income | Non-agency residential | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | 3,193 | 3,193 | 3,490 | ||
Other income | Total mortgage-backed securities | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | 3,199 | 3,199 | 3,497 | ||
Other income | Non-U.S. securities | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | 17,680 | 17,680 | 12,843 | ||
Other income | Other taxable securities, substantially all asset-backed securities | |||||
Other Debt Securities Carried at Fair Value [Line Items] | |||||
Other debt securities carried at fair value | $ 246 | $ 246 | $ 267 |
Securities - Realized Gains and
Securities - Realized Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ||||
Net gains on sales of AFS debt securities | $ 490 | $ 886 | ||
Debt securities | ||||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ||||
Gross gains | $ 57 | $ 441 | 513 | 899 |
Gross losses | (6) | (4) | (23) | (13) |
Net gains on sales of AFS debt securities | 51 | 437 | 490 | 886 |
Income tax expense attributable to realized net gains on sales of AFS debt securities | $ 19 | $ 166 | $ 186 | $ 337 |
Securities - Gross Unrealized L
Securities - Gross Unrealized Losses (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Debt securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | $ 11,873 | $ 134,167 |
Less than Twelve Months, Gross Unrealized Losses | (32) | (1,274) |
Twelve Months or Longer, Fair Value | 8,520 | 18,186 |
Twelve Months or Longer, Gross Unrealized Losses | (125) | (516) |
Total, Fair Value | 20,393 | 152,353 |
Total, Gross Unrealized Losses | (157) | (1,790) |
Temporarily impaired AFS debt securities | Debt securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 11,852 | 133,686 |
Less than Twelve Months, Gross Unrealized Losses | (31) | (1,255) |
Twelve Months or Longer, Fair Value | 8,133 | 18,088 |
Twelve Months or Longer, Gross Unrealized Losses | (104) | (502) |
Total, Fair Value | 19,985 | 151,774 |
Total, Gross Unrealized Losses | (135) | (1,757) |
Temporarily impaired AFS debt securities | Agency | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 1,591 | 115,502 |
Less than Twelve Months, Gross Unrealized Losses | (2) | (1,082) |
Twelve Months or Longer, Fair Value | 4,105 | 13,083 |
Twelve Months or Longer, Gross Unrealized Losses | (21) | (388) |
Total, Fair Value | 5,696 | 128,585 |
Total, Gross Unrealized Losses | (23) | (1,470) |
Temporarily impaired AFS debt securities | Agency-collateralized mortgage obligations | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 604 | 2,536 |
Less than Twelve Months, Gross Unrealized Losses | (3) | (19) |
Twelve Months or Longer, Fair Value | 1,133 | 1,212 |
Twelve Months or Longer, Gross Unrealized Losses | (21) | (36) |
Total, Fair Value | 1,737 | 3,748 |
Total, Gross Unrealized Losses | (24) | (55) |
Temporarily impaired AFS debt securities | Commercial | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 941 | 4,587 |
Less than Twelve Months, Gross Unrealized Losses | (2) | (65) |
Twelve Months or Longer, Fair Value | 0 | 0 |
Twelve Months or Longer, Gross Unrealized Losses | 0 | 0 |
Total, Fair Value | 941 | 4,587 |
Total, Gross Unrealized Losses | (2) | (65) |
Temporarily impaired AFS debt securities | Non-agency residential | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 0 | 553 |
Less than Twelve Months, Gross Unrealized Losses | 0 | (5) |
Twelve Months or Longer, Fair Value | 237 | 723 |
Twelve Months or Longer, Gross Unrealized Losses | (16) | (33) |
Total, Fair Value | 237 | 1,276 |
Total, Gross Unrealized Losses | (16) | (38) |
Temporarily impaired AFS debt securities | Total mortgage-backed securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 3,136 | 123,178 |
Less than Twelve Months, Gross Unrealized Losses | (7) | (1,171) |
Twelve Months or Longer, Fair Value | 5,475 | 15,018 |
Twelve Months or Longer, Gross Unrealized Losses | (58) | (457) |
Total, Fair Value | 8,611 | 138,196 |
Total, Gross Unrealized Losses | (65) | (1,628) |
Temporarily impaired AFS debt securities | U.S. Treasury and agency securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 2,213 | 1,172 |
Less than Twelve Months, Gross Unrealized Losses | (4) | (5) |
Twelve Months or Longer, Fair Value | 0 | 190 |
Twelve Months or Longer, Gross Unrealized Losses | 0 | (4) |
Total, Fair Value | 2,213 | 1,362 |
Total, Gross Unrealized Losses | (4) | (9) |
Temporarily impaired AFS debt securities | Non-U.S. securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 273 | 0 |
Less than Twelve Months, Gross Unrealized Losses | (1) | 0 |
Twelve Months or Longer, Fair Value | 133 | 134 |
Twelve Months or Longer, Gross Unrealized Losses | (3) | (3) |
Total, Fair Value | 406 | 134 |
Total, Gross Unrealized Losses | (4) | (3) |
Temporarily impaired AFS debt securities | Other taxable securities, substantially all asset-backed securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 3,499 | 4,936 |
Less than Twelve Months, Gross Unrealized Losses | (8) | (67) |
Twelve Months or Longer, Fair Value | 1,448 | 869 |
Twelve Months or Longer, Gross Unrealized Losses | (24) | (17) |
Total, Fair Value | 4,947 | 5,805 |
Total, Gross Unrealized Losses | (32) | (84) |
Temporarily impaired AFS debt securities | Total taxable securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 9,121 | 129,286 |
Less than Twelve Months, Gross Unrealized Losses | (20) | (1,243) |
Twelve Months or Longer, Fair Value | 7,056 | 16,211 |
Twelve Months or Longer, Gross Unrealized Losses | (85) | (481) |
Total, Fair Value | 16,177 | 145,497 |
Total, Gross Unrealized Losses | (105) | (1,724) |
Temporarily impaired AFS debt securities | Tax-exempt securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 2,731 | 4,400 |
Less than Twelve Months, Gross Unrealized Losses | (11) | (12) |
Twelve Months or Longer, Fair Value | 1,077 | 1,877 |
Twelve Months or Longer, Gross Unrealized Losses | (19) | (21) |
Total, Fair Value | 3,808 | 6,277 |
Total, Gross Unrealized Losses | (30) | (33) |
Other-than-temporarily impaired AFS debt securities | Non-agency residential | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 21 | 481 |
Less than Twelve Months, Gross Unrealized Losses | (1) | (19) |
Twelve Months or Longer, Fair Value | 387 | 98 |
Twelve Months or Longer, Gross Unrealized Losses | (21) | (14) |
Total, Fair Value | 408 | 579 |
Total, Gross Unrealized Losses | $ (22) | $ (33) |
Securities - Asset Impairment L
Securities - Asset Impairment Losses Recognized in Earnings (Details) - Non-agency residential - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Total OTTI losses | $ (6) | $ (5) | $ (27) | $ (87) |
Less: non-credit portion of total OTTI losses recognized in OCI | 4 | 3 | 13 | 10 |
Net credit-related impairment losses recognized in earnings | $ (2) | $ (2) | $ (14) | $ (77) |
Securities - Rollforward of Cre
Securities - Rollforward of Credit Losses Recognized (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Rollforward of Credit Losses Recognized: | ||||
Balance, beginning of period | $ 246 | $ 261 | $ 266 | $ 200 |
Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses | 0 | 1 | 2 | 50 |
Additions for credit losses recognized on AFS debt securities that had previously incurred impairment losses | 2 | 0 | 12 | 26 |
Reductions for AFS debt securities matured, sold or intended to be sold | 0 | 0 | (32) | (14) |
September 30, 2016 | $ 248 | $ 262 | $ 248 | $ 262 |
Securities - OTTI Significant A
Securities - OTTI Significant Assumptions (Details) - Non-agency residential | Sep. 30, 2016 |
Weighted Average | |
Significant Assumptions: | |
Annual prepayment speed | 14.20% |
Loss severity | 20.10% |
Life default rate | 20.60% |
Weighted Average | Prime | |
Significant Assumptions: | |
Loss severity | 17.30% |
Life default rate | 14.20% |
Weighted Average | Alt-A Loan | |
Significant Assumptions: | |
Loss severity | 18.80% |
Life default rate | 21.80% |
Weighted Average | Subprime | |
Significant Assumptions: | |
Loss severity | 30.60% |
Life default rate | 21.50% |
10th Percentile | |
Significant Assumptions: | |
Annual prepayment speed | 4.90% |
Loss severity | 8.70% |
Life default rate | 0.70% |
90th Percentile | |
Significant Assumptions: | |
Annual prepayment speed | 28.00% |
Loss severity | 36.80% |
Life default rate | 78.20% |
Securities - Expected Maturity
Securities - Expected Maturity (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Amortized cost of HTM debt securities | ||
Due in One Year or Less, Amount | $ 0 | |
Due in One Year or Less, Yield | 0.00% | |
Due after One Year through Five Years, Amount | $ 16 | |
Due after One Year through Five Years, Yield | 3.54% | |
Due after Five Years through Ten Years, Amount | $ 904 | |
Due after Five Years though Ten Years, Yield | 2.40% | |
Due after Ten Years, Amount | $ 111,489 | |
Due after Ten Years, Yield | 3.06% | |
Amortized Cost | $ 112,409 | $ 84,508 |
Total, Yield | 3.06% | |
Debt securities carried at fair value | ||
Debt securities carried at fair value | $ 322,505 | 322,380 |
Fair value of HTM debt securities | ||
Due in One Year or Less, Amount | 0 | |
Due after One Year through Five Years, Amount | 16 | |
Due after Five Years though Ten Years, Amount | 921 | |
Due after Ten Years, Amount | 113,028 | |
Total, Amount | 113,965 | $ 84,046 |
Agency | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 2 | |
Due in One Year or Less, Yield | 5.24% | |
Due after One Year through Five Years, Amount | $ 79 | |
Due after One Year through Five Years, Yield | 2.99% | |
Due after Five Years though Ten Years, Amount | $ 405 | |
Due after Five Years though Ten Years, Yield | 2.58% | |
Due after Ten Years, Amount | $ 196,322 | |
Due after Ten Years, Yield | 3.26% | |
Total, Amount | $ 196,808 | |
Total, Yield | 3.25% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 2 | |
Due after One Year through Five Years, Amount | 54 | |
Due after Five Years though Ten Years, Amount | 414 | |
Due after Ten Years, Amount | 200,581 | |
Debt securities carried at fair value | 201,051 | |
Agency-collateralized mortgage obligations | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 0 | |
Due in One Year or Less, Yield | 0.00% | |
Due after One Year through Five Years, Amount | $ 0 | |
Due after One Year through Five Years, Yield | 0.00% | |
Due after Five Years though Ten Years, Amount | $ 0 | |
Due after Five Years though Ten Years, Yield | 0.00% | |
Due after Ten Years, Amount | $ 8,867 | |
Due after Ten Years, Yield | 3.19% | |
Total, Amount | $ 8,867 | |
Total, Yield | 3.19% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 0 | |
Due after One Year through Five Years, Amount | 0 | |
Due after Five Years though Ten Years, Amount | 0 | |
Due after Ten Years, Amount | 9,087 | |
Debt securities carried at fair value | 9,087 | |
Commercial | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 48 | |
Due in One Year or Less, Yield | 8.56% | |
Due after One Year through Five Years, Amount | $ 499 | |
Due after One Year through Five Years, Yield | 1.89% | |
Due after Five Years though Ten Years, Amount | $ 10,891 | |
Due after Five Years though Ten Years, Yield | 2.46% | |
Due after Ten Years, Amount | $ 1,117 | |
Due after Ten Years, Yield | 2.22% | |
Total, Amount | $ 12,555 | |
Total, Yield | 2.44% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 48 | |
Due after One Year through Five Years, Amount | 506 | |
Due after Five Years though Ten Years, Amount | 11,257 | |
Due after Ten Years, Amount | 1,125 | |
Debt securities carried at fair value | 12,936 | |
Non-agency residential | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 0 | |
Due in One Year or Less, Yield | 0.00% | |
Due after One Year through Five Years, Amount | $ 0 | |
Due after One Year through Five Years, Yield | 0.00% | |
Due after Five Years though Ten Years, Amount | $ 0 | |
Due after Five Years though Ten Years, Yield | 0.00% | |
Due after Ten Years, Amount | $ 4,767 | |
Due after Ten Years, Yield | 8.15% | |
Total, Amount | $ 4,767 | |
Total, Yield | 8.15% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 0 | |
Due after One Year through Five Years, Amount | 0 | |
Due after Five Years though Ten Years, Amount | 0 | |
Due after Ten Years, Amount | 4,811 | |
Debt securities carried at fair value | 4,811 | |
Total mortgage-backed securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 50 | |
Due in One Year or Less, Yield | 8.43% | |
Due after One Year through Five Years, Amount | $ 578 | |
Due after One Year through Five Years, Yield | 2.04% | |
Due after Five Years though Ten Years, Amount | $ 11,296 | |
Due after Five Years though Ten Years, Yield | 2.46% | |
Due after Ten Years, Amount | $ 211,073 | |
Due after Ten Years, Yield | 3.36% | |
Total, Amount | $ 222,997 | |
Total, Yield | 3.31% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 50 | |
Due after One Year through Five Years, Amount | 560 | |
Due after Five Years though Ten Years, Amount | 11,671 | |
Due after Ten Years, Amount | 215,604 | |
Debt securities carried at fair value | 227,885 | |
U.S. Treasury and agency securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 534 | |
Due in One Year or Less, Yield | 0.31% | |
Due after One Year through Five Years, Amount | $ 30,312 | |
Due after One Year through Five Years, Yield | 1.30% | |
Due after Five Years though Ten Years, Amount | $ 13,862 | |
Due after Five Years though Ten Years, Yield | 1.51% | |
Due after Ten Years, Amount | $ 217 | |
Due after Ten Years, Yield | 5.46% | |
Total, Amount | $ 44,925 | |
Total, Yield | 1.37% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 535 | |
Due after One Year through Five Years, Amount | 30,565 | |
Due after Five Years though Ten Years, Amount | 13,947 | |
Due after Ten Years, Amount | 237 | |
Debt securities carried at fair value | 45,284 | |
Non-U.S. securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 22,106 | |
Due in One Year or Less, Yield | 0.64% | |
Due after One Year through Five Years, Amount | $ 1,035 | |
Due after One Year through Five Years, Yield | 1.89% | |
Due after Five Years though Ten Years, Amount | $ 262 | |
Due after Five Years though Ten Years, Yield | 1.43% | |
Due after Ten Years, Amount | $ 264 | |
Due after Ten Years, Yield | 6.56% | |
Total, Amount | $ 23,667 | |
Total, Yield | 0.77% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 22,113 | |
Due after One Year through Five Years, Amount | 1,040 | |
Due after Five Years though Ten Years, Amount | 264 | |
Due after Ten Years, Amount | 273 | |
Debt securities carried at fair value | 23,690 | |
Other taxable securities, substantially all asset-backed securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 1,818 | |
Due in One Year or Less, Yield | 1.40% | |
Due after One Year through Five Years, Amount | $ 4,021 | |
Due after One Year through Five Years, Yield | 1.65% | |
Due after Five Years though Ten Years, Amount | $ 2,447 | |
Due after Five Years though Ten Years, Yield | 2.77% | |
Due after Ten Years, Amount | $ 1,343 | |
Due after Ten Years, Yield | 3.30% | |
Total, Amount | $ 9,629 | |
Total, Yield | 2.12% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 1,816 | |
Due after One Year through Five Years, Amount | 3,982 | |
Due after Five Years though Ten Years, Amount | 2,496 | |
Due after Ten Years, Amount | 1,368 | |
Debt securities carried at fair value | 9,662 | |
Total taxable securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 24,508 | |
Due in One Year or Less, Yield | 0.71% | |
Due after One Year through Five Years, Amount | $ 35,946 | |
Due after One Year through Five Years, Yield | 1.37% | |
Due after Five Years though Ten Years, Amount | $ 27,867 | |
Due after Five Years though Ten Years, Yield | 2.01% | |
Due after Ten Years, Amount | $ 212,897 | |
Due after Ten Years, Yield | 3.37% | |
Total, Amount | $ 301,218 | |
Total, Yield | 2.78% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 24,514 | |
Due after One Year through Five Years, Amount | 36,147 | |
Due after Five Years though Ten Years, Amount | 28,378 | |
Due after Ten Years, Amount | 217,482 | |
Debt securities carried at fair value | 306,521 | |
Tax-exempt securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 1,569 | |
Due in One Year or Less, Yield | 0.99% | |
Due after One Year through Five Years, Amount | $ 6,025 | |
Due after One Year through Five Years, Yield | 1.25% | |
Due after Five Years though Ten Years, Amount | $ 6,402 | |
Due after Five Years though Ten Years, Yield | 1.43% | |
Due after Ten Years, Amount | $ 1,921 | |
Due after Ten Years, Yield | 1.35% | |
Total, Amount | $ 15,917 | |
Total, Yield | 1.31% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 1,570 | |
Due after One Year through Five Years, Amount | 6,033 | |
Due after Five Years though Ten Years, Amount | 6,473 | |
Due after Ten Years, Amount | 1,908 | |
Debt securities carried at fair value | 15,984 | |
Debt securities | ||
Amortized cost of debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 26,077 | |
Due in One Year or Less, Yield | 0.73% | |
Due after One Year through Five Years, Amount | $ 41,971 | |
Due after One Year through Five Years, Yield | 1.35% | |
Due after Five Years though Ten Years, Amount | $ 34,269 | |
Due after Five Years though Ten Years, Yield | 1.90% | |
Due after Ten Years, Amount | $ 214,818 | |
Due after Ten Years, Yield | 3.35% | |
Total, Amount | $ 317,135 | |
Total, Yield | 2.71% | |
Debt securities carried at fair value | ||
Due in One Year or Less, Amount | $ 26,084 | |
Due after One Year through Five Years, Amount | 42,180 | |
Due after Five Years though Ten Years, Amount | 34,851 | |
Due after Ten Years, Amount | 219,390 | |
Debt securities carried at fair value | $ 322,505 |
Outstanding Loans and Leases -
Outstanding Loans and Leases - Past Due (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | $ 8,108 | $ 6,938 |
Total Outstandings | $ 905,008 | $ 896,983 |
Percentage outstanding, purchase credit-impaired | 1.60% | 1.86% |
Percentage outstanding, loans accounted for under the fair value option | 0.90% | 0.77% |
Percentage outstanding, total outstanding | 100.00% | 100.00% |
Loans pledged to secure borrowings | $ 146,100 | $ 149,400 |
Federal National Mortgage Association Certificates and Obligations (FNMA) and Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) | Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid principal balance of loans covered by protection agreement | 6,000 | 3,700 |
Other Loans | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 1,100 | |
Nonperforming Financing Receivable | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonperforming loans | 25 | 21 |
Purchased Credit - impaired | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit - impaired | 14,468 | 16,685 |
30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 4,132 | $ 5,251 |
Percentage of outstandings | 0.46% | 0.59% |
60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 1,967 | $ 2,460 |
Percentage of outstandings | 0.22% | 0.27% |
90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 9,638 | $ 13,020 |
Percentage of outstandings | 1.06% | 1.45% |
Total Past Due 30 Days or Greater | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 15,737 | $ 20,731 |
Percentage of outstandings | 1.74% | 2.31% |
Total Current or Less Than 30 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 866,695 | $ 852,629 |
Percentage of outstandings | 95.76% | 95.06% |
Consumer Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | $ 1,768 | $ 1,871 |
Total Outstandings | 452,463 | 456,169 |
Consumer Portfolio Segment | Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 1,400 | 1,600 |
Consumer Portfolio Segment | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 340 | 250 |
Consumer Portfolio Segment | Carrying Value | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 450,695 | 454,298 |
Consumer Portfolio Segment | Estimate of Fair Value Measurement | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 1,768 | 1,871 |
Consumer Portfolio Segment | Purchased Credit - impaired | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit - impaired | 14,468 | 16,685 |
Consumer Portfolio Segment | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 3,738 | 4,532 |
Consumer Portfolio Segment | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,708 | 2,230 |
Consumer Portfolio Segment | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 9,176 | 12,513 |
Consumer Portfolio Segment | Total Past Due 30 Days or Greater | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 14,622 | 19,275 |
Consumer Portfolio Segment | Total Current or Less Than 30 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 421,605 | 418,338 |
Consumer Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 1,800 | 1,900 |
Consumer Real Estate | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 150,491 | 141,795 |
Consumer Real Estate | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 50,924 | 54,917 |
Consumer Real Estate | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 26,863 | 34,050 |
Consumer Real Estate | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 14,219 | 16,412 |
Consumer Real Estate | Pay option | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 1,900 | 2,300 |
Consumer Real Estate | Fully Insured Loans | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 21,866 | 25,096 |
Consumer Real Estate | Fully Insured Loans | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 0 | 0 |
Consumer Real Estate | Fully Insured Loans | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 8,194 | 11,981 |
Consumer Real Estate | Fully Insured Loans | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 0 | 0 |
Consumer Real Estate | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonperforming loans | 2,500 | 3,000 |
Consumer Real Estate | Carrying Value | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 150,491 | 141,795 |
Consumer Real Estate | Carrying Value | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 50,924 | 54,917 |
Consumer Real Estate | Carrying Value | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 37,477 | 46,116 |
Consumer Real Estate | Carrying Value | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 18,073 | 21,031 |
Consumer Real Estate | Purchased Credit - impaired | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit - impaired | 14,468 | 16,685 |
Consumer Real Estate | Purchased Credit - impaired | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit - impaired | 10,614 | 12,066 |
Consumer Real Estate | Purchased Credit - impaired | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Purchased Credit - impaired | 3,854 | 4,619 |
Consumer Real Estate | 30 to 59 Days Past Due | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,100 | 1,214 |
Consumer Real Estate | 30 to 59 Days Past Due | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 222 | 200 |
Consumer Real Estate | 30 to 59 Days Past Due | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,402 | 2,045 |
Consumer Real Estate | 30 to 59 Days Past Due | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 291 | 335 |
Consumer Real Estate | 30 to 59 Days Past Due | Fully Insured Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,100 | 1,700 |
Consumer Real Estate | 30 to 59 Days Past Due | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 306 | 379 |
Consumer Real Estate | 60 to 89 Days Past Due | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 337 | 368 |
Consumer Real Estate | 60 to 89 Days Past Due | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 107 | 93 |
Consumer Real Estate | 60 to 89 Days Past Due | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 717 | 1,167 |
Consumer Real Estate | 60 to 89 Days Past Due | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 137 | 174 |
Consumer Real Estate | 60 to 89 Days Past Due | Fully Insured Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 603 | 1,000 |
Consumer Real Estate | 60 to 89 Days Past Due | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 233 | 297 |
Consumer Real Estate | 90 Days or More Past Due | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,244 | 1,414 |
Consumer Real Estate | 90 Days or More Past Due | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 464 | 579 |
Consumer Real Estate | 90 Days or More Past Due | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 5,803 | 8,439 |
Consumer Real Estate | 90 Days or More Past Due | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 865 | 1,170 |
Consumer Real Estate | 90 Days or More Past Due | Fully Insured Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 5,100 | 7,200 |
Consumer Real Estate | Total Past Due 30 Days or Greater | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 2,681 | 2,996 |
Consumer Real Estate | Total Past Due 30 Days or Greater | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 793 | 872 |
Consumer Real Estate | Total Past Due 30 Days or Greater | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 7,922 | 11,651 |
Consumer Real Estate | Total Past Due 30 Days or Greater | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,293 | 1,679 |
Consumer Real Estate | Total Current or Less Than 30 Days Past Due | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 147,810 | 138,799 |
Consumer Real Estate | Total Current or Less Than 30 Days Past Due | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 50,131 | 54,045 |
Consumer Real Estate | Total Current or Less Than 30 Days Past Due | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 18,941 | 22,399 |
Consumer Real Estate | Total Current or Less Than 30 Days Past Due | Non-core Home Equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 12,926 | 14,733 |
Credit card and other consumer | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 88,789 | 89,602 |
Credit card and other consumer | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 9,258 | 9,975 |
Credit card and other consumer | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 93,294 | 88,795 |
Credit card and other consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 2,389 | 2,067 |
Credit card and other consumer | Dealer Financial Services Loans | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 47,800 | 42,600 |
Credit card and other consumer | Unsecured Consumed Lending Loans | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 630 | 886 |
Credit card and other consumer | Securities Based Lending Loans | Direct/Indirect Consumer | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 40,100 | 39,800 |
Credit card and other consumer | Securities Based Lending Loans | Direct/Indirect Consumer | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 3,100 | 3,900 |
Credit card and other consumer | Student Loans | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 514 | 564 |
Credit card and other consumer | Other Loans | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 1,000 | |
Credit card and other consumer | Consumer Finance Loans | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 489 | 564 |
Credit card and other consumer | Consumer Leases | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 1,700 | 1,400 |
Credit card and other consumer | Consumer Overdrafts | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 151 | 146 |
Credit card and other consumer | Carrying Value | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 88,789 | 89,602 |
Credit card and other consumer | Carrying Value | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 9,258 | 9,975 |
Credit card and other consumer | Carrying Value | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 93,294 | 88,795 |
Credit card and other consumer | Carrying Value | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 2,389 | 2,067 |
Credit card and other consumer | 30 to 59 Days Past Due | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 443 | 454 |
Credit card and other consumer | 30 to 59 Days Past Due | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 32 | 39 |
Credit card and other consumer | 30 to 59 Days Past Due | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 223 | 227 |
Credit card and other consumer | 30 to 59 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 25 | 18 |
Credit card and other consumer | 60 to 89 Days Past Due | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 314 | 332 |
Credit card and other consumer | 60 to 89 Days Past Due | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 28 | 31 |
Credit card and other consumer | 60 to 89 Days Past Due | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 62 | 62 |
Credit card and other consumer | 60 to 89 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 6 | 3 |
Credit card and other consumer | 90 Days or More Past Due | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 702 | 789 |
Credit card and other consumer | 90 Days or More Past Due | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 65 | 76 |
Credit card and other consumer | 90 Days or More Past Due | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 29 | 42 |
Credit card and other consumer | 90 Days or More Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 4 | 4 |
Credit card and other consumer | Total Past Due 30 Days or Greater | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,459 | 1,575 |
Credit card and other consumer | Total Past Due 30 Days or Greater | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 125 | 146 |
Credit card and other consumer | Total Past Due 30 Days or Greater | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 314 | 331 |
Credit card and other consumer | Total Past Due 30 Days or Greater | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 35 | 25 |
Credit card and other consumer | Total Current or Less Than 30 Days Past Due | Credit Card Receivable | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 87,330 | 88,027 |
Credit card and other consumer | Total Current or Less Than 30 Days Past Due | Credit Card Receivable | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 9,133 | 9,829 |
Credit card and other consumer | Total Current or Less Than 30 Days Past Due | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 92,980 | 88,464 |
Credit card and other consumer | Total Current or Less Than 30 Days Past Due | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 2,354 | 2,042 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 6,340 | 5,067 |
Total Outstandings | 452,545 | 440,814 |
Commercial | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 2,600 | 2,300 |
Total Outstandings | 267,019 | 252,771 |
Commercial | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Accounted for Under the Fair Value Option | 3,700 | 2,800 |
Total Outstandings | 87,497 | 91,549 |
Commercial | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 57,303 | 57,199 |
Commercial | Commercial Real Estate | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 53,900 | 53,600 |
Commercial | Commercial Real Estate | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 3,400 | 3,500 |
Commercial | Small Business Commercial | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 13,077 | 12,876 |
Commercial | Carrying Value | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 446,205 | 435,747 |
Commercial | Carrying Value | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 267,019 | 252,771 |
Commercial | Carrying Value | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 87,497 | 91,549 |
Commercial | Carrying Value | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 57,303 | 57,199 |
Commercial | Carrying Value | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 21,309 | 21,352 |
Commercial | Carrying Value | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 13,077 | 12,876 |
Commercial | Estimate of Fair Value Measurement | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Outstandings | 6,340 | 5,067 |
Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 394 | 719 |
Commercial | 30 to 59 Days Past Due | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 260 | 444 |
Commercial | 30 to 59 Days Past Due | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1 | 6 |
Commercial | 30 to 59 Days Past Due | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 19 | 36 |
Commercial | 30 to 59 Days Past Due | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 63 | 150 |
Commercial | 30 to 59 Days Past Due | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 51 | 83 |
Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 259 | 230 |
Commercial | 60 to 89 Days Past Due | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 142 | 148 |
Commercial | 60 to 89 Days Past Due | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 18 | 1 |
Commercial | 60 to 89 Days Past Due | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 19 | 11 |
Commercial | 60 to 89 Days Past Due | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 39 | 29 |
Commercial | 60 to 89 Days Past Due | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 41 | 41 |
Commercial | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 462 | 507 |
Commercial | 90 Days or More Past Due | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 310 | 332 |
Commercial | 90 Days or More Past Due | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 3 | 1 |
Commercial | 90 Days or More Past Due | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 38 | 82 |
Commercial | 90 Days or More Past Due | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 32 | 20 |
Commercial | 90 Days or More Past Due | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 79 | 72 |
Commercial | Total Past Due 30 Days or Greater | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 1,115 | 1,456 |
Commercial | Total Past Due 30 Days or Greater | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 712 | 924 |
Commercial | Total Past Due 30 Days or Greater | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 22 | 8 |
Commercial | Total Past Due 30 Days or Greater | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 76 | 129 |
Commercial | Total Past Due 30 Days or Greater | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 134 | 199 |
Commercial | Total Past Due 30 Days or Greater | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 171 | 196 |
Commercial | Total Current or Less Than 30 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 445,090 | 434,291 |
Commercial | Total Current or Less Than 30 Days Past Due | United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 266,307 | 251,847 |
Commercial | Total Current or Less Than 30 Days Past Due | Non United States | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 87,475 | 91,541 |
Commercial | Total Current or Less Than 30 Days Past Due | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 57,227 | 57,070 |
Commercial | Total Current or Less Than 30 Days Past Due | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | 21,175 | 21,153 |
Commercial | Total Current or Less Than 30 Days Past Due | Small Business Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans and leases | $ 12,906 | $ 12,680 |
Outstanding Loans and Leases 65
Outstanding Loans and Leases - Nonperforming (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Threshold period past due for nonperforming status of financing receivables | 90 days | 90 days | |||
Loans and leases | $ 905,008 | $ 905,008 | $ 896,983 | ||
Proceeds from sales | 14,870 | $ 20,399 | |||
Purchased credit impaired loans sold | 111 | $ 220 | 435 | 1,200 | |
Nonperforming loans and leases | 8,349 | 8,349 | 9,377 | ||
Accruing past due 90 days or more | 6,050 | 6,050 | 8,250 | ||
Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Accruing past due 90 days or more | 1,800 | 1,800 | 2,900 | ||
Federal Housing Administration | Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Nonperforming loans and leases | 3,300 | 3,300 | 4,300 | ||
Nonperforming Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Proceeds from sales | 360 | 742 | 1,800 | 2,700 | |
Recoveries related to sales | 6 | 58 | 125 | ||
Write-offs related to sales | 39 | ||||
Nonperforming Financing Receivable | Junior Lien Home Equity Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 432 | 432 | 484 | ||
Consumer Portfolio Segment | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 452,463 | 452,463 | 456,169 | ||
Nonperforming loans and leases | 6,350 | 6,350 | 8,165 | ||
Accruing past due 90 days or more | 5,916 | $ 5,916 | 8,057 | ||
Consumer Real Estate | Junior Lien Home Equity Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Threshold period past due for nonperforming status of financing receivables | 90 days | ||||
Consumer Real Estate | Core Portfolio Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 150,491 | $ 150,491 | 141,795 | ||
Nonperforming loans and leases | 1,394 | 1,394 | 1,825 | ||
Accruing past due 90 days or more | 452 | 452 | 382 | ||
Consumer Real Estate | Core Portfolio Home Equity | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 50,924 | 50,924 | 54,917 | ||
Nonperforming loans and leases | 956 | 956 | 974 | ||
Accruing past due 90 days or more | 0 | 0 | 0 | ||
Consumer Real Estate | Non-core Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 26,863 | 26,863 | 34,050 | ||
Nonperforming loans and leases | 1,947 | 1,947 | 2,978 | ||
Accruing past due 90 days or more | 4,665 | 4,665 | 6,768 | ||
Consumer Real Estate | Non-core Home Equity | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 14,219 | 14,219 | 16,412 | ||
Nonperforming loans and leases | 2,026 | 2,026 | 2,363 | ||
Accruing past due 90 days or more | 0 | 0 | 0 | ||
Credit card and other consumer | Credit Card Receivable | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 88,789 | 88,789 | 89,602 | ||
Accruing past due 90 days or more | 702 | 702 | 789 | ||
Credit card and other consumer | Credit Card Receivable | Non United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 9,258 | 9,258 | 9,975 | ||
Accruing past due 90 days or more | 65 | 65 | 76 | ||
Credit card and other consumer | Direct/Indirect Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 93,294 | 93,294 | 88,795 | ||
Nonperforming loans and leases | 26 | 26 | 24 | ||
Accruing past due 90 days or more | 29 | 29 | 39 | ||
Credit card and other consumer | Other consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 2,389 | 2,389 | 2,067 | ||
Nonperforming loans and leases | 1 | 1 | 1 | ||
Accruing past due 90 days or more | 3 | $ 3 | 3 | ||
Commercial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Threshold period past due for nonperforming status of financing receivables | 90 days | ||||
Loans and leases | 452,545 | $ 452,545 | 440,814 | ||
Nonperforming loans and leases | 1,999 | 1,999 | 1,212 | ||
Accruing past due 90 days or more | 134 | 134 | 193 | ||
Commercial | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 267,019 | 267,019 | 252,771 | ||
Nonperforming loans and leases | 1,439 | 1,439 | 867 | ||
Accruing past due 90 days or more | 40 | 40 | 113 | ||
Commercial | Non United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 87,497 | 87,497 | 91,549 | ||
Nonperforming loans and leases | 400 | 400 | 158 | ||
Accruing past due 90 days or more | 3 | 3 | 1 | ||
Commercial | Commercial Real Estate | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 57,303 | 57,303 | 57,199 | ||
Nonperforming loans and leases | 60 | 60 | 93 | ||
Accruing past due 90 days or more | 0 | 0 | 3 | ||
Commercial | Commercial Real Estate | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 53,900 | 53,900 | 53,600 | ||
Commercial | Commercial Real Estate | Non United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 3,400 | 3,400 | 3,500 | ||
Commercial | Commercial Lease Financing | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 21,309 | 21,309 | 21,352 | ||
Nonperforming loans and leases | 35 | 35 | 12 | ||
Accruing past due 90 days or more | 28 | 28 | 15 | ||
Commercial | Small Business Commercial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Nonperforming loans and leases | 65 | 65 | 82 | ||
Accruing past due 90 days or more | 63 | 63 | 61 | ||
Commercial | Small Business Commercial | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 13,077 | 13,077 | 12,876 | ||
Chapter Seven Bankruptcy | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 1,500 | 1,500 | |||
Chapter Seven Bankruptcy | Nonperforming Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans and leases | 616 | 616 | |||
Non-performing troubled debt with no change in repayment terms at time of discharge, current with contractual payments | $ 370 | $ 370 | |||
Nonperforming loans discharged more than twelve months prior (more than) | 81.00% | 81.00% | |||
Nonperforming loans discharged more than twenty four months prior | 68.00% | 68.00% | |||
Noninterest income | Nonperforming Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Gain (loss) on sale | $ 19 | $ 67 | $ 63 | $ 142 | |
90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 9,638 | 9,638 | 13,020 | ||
90 Days or More Past Due | Consumer Portfolio Segment | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 9,176 | 9,176 | 12,513 | ||
90 Days or More Past Due | Consumer Real Estate | Core Portfolio Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 1,244 | 1,244 | 1,414 | ||
90 Days or More Past Due | Consumer Real Estate | Core Portfolio Home Equity | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 464 | 464 | 579 | ||
90 Days or More Past Due | Consumer Real Estate | Non-core Residential Mortgage | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 5,803 | 5,803 | 8,439 | ||
90 Days or More Past Due | Consumer Real Estate | Non-core Home Equity | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 865 | 865 | 1,170 | ||
90 Days or More Past Due | Credit card and other consumer | Credit Card Receivable | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 702 | 702 | 789 | ||
90 Days or More Past Due | Credit card and other consumer | Credit Card Receivable | Non United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 65 | 65 | 76 | ||
90 Days or More Past Due | Credit card and other consumer | Direct/Indirect Consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 29 | 29 | 42 | ||
90 Days or More Past Due | Credit card and other consumer | Other consumer | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 4 | 4 | 4 | ||
90 Days or More Past Due | Commercial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 462 | 462 | 507 | ||
90 Days or More Past Due | Commercial | United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 310 | 310 | 332 | ||
90 Days or More Past Due | Commercial | Non United States | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 3 | 3 | 1 | ||
90 Days or More Past Due | Commercial | Commercial Real Estate | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 38 | 38 | 82 | ||
90 Days or More Past Due | Commercial | Small Business Commercial | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | 79 | 79 | $ 72 | ||
90 Days or More Past Due | Chapter Seven Bankruptcy | Nonperforming Financing Receivable | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-performing troubled debt with no change in repayment terms at time of discharge, 90 days or more past due | $ 212 | $ 212 |
Outstanding Loans and Leases 66
Outstanding Loans and Leases - Consumer Real Estate - Credit Quality Indicators (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 905,008 | $ 896,983 |
Loans and leases, measured at fair value | 8,108 | 6,938 |
Consumer Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases, measured at fair value | 1,800 | 1,900 |
Consumer Real Estate | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 150,491 | 141,795 |
Consumer Real Estate | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 26,863 | 34,050 |
Consumer Real Estate | Non-core Residential Mortgage | Pay option | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,900 | 2,300 |
Consumer Real Estate | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 10,614 | 12,066 |
Consumer Real Estate | Residential Mortgage PCI | Pay option | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,700 | 2,000 |
Consumer Real Estate | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 50,924 | 54,917 |
Consumer Real Estate | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 14,219 | 16,412 |
Consumer Real Estate | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,854 | 4,619 |
Consumer Real Estate | Less than 620 | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,679 | 3,129 |
Consumer Real Estate | Less than 620 | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,442 | 4,749 |
Consumer Real Estate | Less than 620 | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,948 | 3,798 |
Consumer Real Estate | Less than 620 | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,279 | 1,322 |
Consumer Real Estate | Less than 620 | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,875 | 3,490 |
Consumer Real Estate | Less than 620 | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 587 | 729 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 5,250 | 5,472 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,956 | 3,762 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,337 | 2,586 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,933 | 3,295 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,280 | 3,862 |
Consumer Real Estate | Greater than or equal to 620 and less than 680 | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 683 | 825 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 22,095 | 22,486 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 4,789 | 5,138 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,015 | 3,187 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 10,537 | 12,180 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,265 | 3,451 |
Consumer Real Estate | Greater than or equal to 680 and less than 740 | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,133 | 1,356 |
Consumer Real Estate | Greater than or equal to 740 | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 98,601 | 85,612 |
Consumer Real Estate | Greater than or equal to 740 | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 7,482 | 8,420 |
Consumer Real Estate | Greater than or equal to 740 | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,314 | 2,495 |
Consumer Real Estate | Greater than or equal to 740 | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 36,175 | 38,120 |
Consumer Real Estate | Greater than or equal to 740 | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 4,799 | 5,609 |
Consumer Real Estate | Greater than or equal to 740 | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,451 | 1,709 |
Consumer Real Estate | Less than or equal to 90 percent | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 122,783 | 110,023 |
Consumer Real Estate | Less than or equal to 90 percent | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 14,696 | 16,481 |
Consumer Real Estate | Less than or equal to 90 percent | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 7,972 | 8,655 |
Consumer Real Estate | Less than or equal to 90 percent | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 48,256 | 51,262 |
Consumer Real Estate | Less than or equal to 90 percent | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 8,363 | 8,347 |
Consumer Real Estate | Less than or equal to 90 percent | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,860 | 2,003 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,808 | 4,038 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,638 | 2,224 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,106 | 1,403 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,283 | 1,858 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,864 | 2,190 |
Consumer Real Estate | Greater than 90 percent but less than or equal to 100 percent | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 686 | 852 |
Consumer Real Estate | Greater than 100 percent | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,034 | 2,638 |
Consumer Real Estate | Greater than 100 percent | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 2,335 | 3,364 |
Consumer Real Estate | Greater than 100 percent | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,536 | 2,008 |
Consumer Real Estate | Greater than 100 percent | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,385 | 1,797 |
Consumer Real Estate | Greater than 100 percent | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,992 | 5,875 |
Consumer Real Estate | Greater than 100 percent | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,308 | 1,764 |
Consumer Real Estate | Fully Insured Loans | Core Portfolio Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 21,866 | 25,096 |
Consumer Real Estate | Fully Insured Loans | Non-core Residential Mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 8,194 | 11,981 |
Consumer Real Estate | Fully Insured Loans | Residential Mortgage PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Consumer Real Estate | Fully Insured Loans | Core Portfolio Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Consumer Real Estate | Fully Insured Loans | Non-core Home Equity | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Consumer Real Estate | Fully Insured Loans | Home Equity PCI | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 0 | $ 0 |
Outstanding Loans and Leases 67
Outstanding Loans and Leases - Credit Card and Other Consumer - Credit Quality Indicators (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 905,008 | $ 896,983 |
Credit card and other consumer | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 93,294 | 88,795 |
Securities based lending overcollateralized | 43,300 | 43,700 |
Loans no longer originated by corporation | 516 | 567 |
Credit card and other consumer | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 2,389 | $ 2,067 |
Percentage from exited businesses | 20.00% | 27.00% |
Credit card and other consumer | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 88,789 | $ 89,602 |
Credit card and other consumer | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 9,258 | $ 9,975 |
Percentage outstanding, current or less than 30 days past due | 98.00% | 98.00% |
Percentage outstanding, 30-89 days past due | 1.00% | 1.00% |
Percentage outstanding, equal to greater than 90 days past due | 1.00% | 1.00% |
Credit card and other consumer | Less than 620 | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 1,297 | $ 1,244 |
Credit card and other consumer | Less than 620 | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 193 | 217 |
Credit card and other consumer | Less than 620 | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 4,136 | 4,196 |
Credit card and other consumer | Less than 620 | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Credit card and other consumer | Greater than or equal to 620 and less than 680 | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,887 | 1,698 |
Credit card and other consumer | Greater than or equal to 620 and less than 680 | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 219 | 214 |
Credit card and other consumer | Greater than or equal to 620 and less than 680 | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 11,887 | 11,857 |
Credit card and other consumer | Greater than or equal to 620 and less than 680 | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Credit card and other consumer | Greater than or equal to 680 and less than 740 | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 12,132 | 10,955 |
Credit card and other consumer | Greater than or equal to 680 and less than 740 | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 395 | 337 |
Credit card and other consumer | Greater than or equal to 680 and less than 740 | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 34,065 | 34,270 |
Credit card and other consumer | Greater than or equal to 680 and less than 740 | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Credit card and other consumer | Greater than or equal to 740 | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 33,139 | 29,581 |
Credit card and other consumer | Greater than or equal to 740 | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,428 | 1,149 |
Credit card and other consumer | Greater than or equal to 740 | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 38,701 | 39,279 |
Credit card and other consumer | Greater than or equal to 740 | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Credit card and other consumer | Other internal credit metrics | Direct/Indirect Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 44,839 | 45,317 |
Credit card and other consumer | Other internal credit metrics | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 154 | 150 |
Credit card and other consumer | Other internal credit metrics | United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 0 | 0 |
Credit card and other consumer | Other internal credit metrics | Non United States | Credit Card Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 9,258 | $ 9,975 |
Outstanding Loans and Leases 68
Outstanding Loans and Leases - Commercial - Credit Quality Indicators (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 905,008 | $ 896,983 |
Loans and leases, measured at fair value | 8,108 | 6,938 |
Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 452,545 | 440,814 |
Loans and leases, measured at fair value | 6,340 | 5,067 |
Commercial | Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 57,303 | 57,199 |
Commercial | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 21,309 | 21,352 |
Commercial | Pass rated | Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 57,003 | 56,688 |
Commercial | Pass rated | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 20,531 | 20,644 |
Commercial | Reservable criticized | Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 300 | 511 |
Commercial | Reservable criticized | Commercial Lease Financing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 778 | 708 |
Commercial | United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 267,019 | 252,771 |
Loans and leases, measured at fair value | 2,600 | 2,300 |
Commercial | United States | Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 53,900 | 53,600 |
Commercial | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 13,077 | 12,876 |
Commercial | United States | Pass rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 257,169 | 243,922 |
Commercial | United States | Pass rated | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 464 | 571 |
Commercial | United States | Reservable criticized | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 9,850 | 8,849 |
Commercial | United States | Reservable criticized | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 74 | $ 96 |
Commercial | United States | Internal Credit Metrics | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage outstanding, current or less than 30 days past due | 99.00% | 98.00% |
Commercial | United States | Business Card and Small Business Loan | Refreshed FICO or Internal Credit Metric | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 731 | $ 670 |
Commercial | Non United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 87,497 | 91,549 |
Loans and leases, measured at fair value | 3,700 | 2,800 |
Commercial | Non United States | Commercial Real Estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,400 | 3,500 |
Commercial | Non United States | Pass rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 83,765 | 87,905 |
Commercial | Non United States | Reservable criticized | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,732 | 3,644 |
Commercial | Less than 620 | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 195 | 184 |
Commercial | Greater than or equal to 620 and less than 680 | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 578 | 543 |
Commercial | Greater than or equal to 680 and less than 740 | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 1,743 | 1,627 |
Commercial | Greater than or equal to 740 | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | 3,349 | 3,027 |
Commercial | Other internal credit metrics | United States | Small Business Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and leases | $ 6,674 | $ 6,828 |
Outstanding Loans and Leases 69
Outstanding Loans and Leases - Consumer Real Estate - Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Loans and leases | $ 905,008 | $ 905,008 | $ 896,983 | ||
Chapter Seven Bankruptcy | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans and leases | 1,500 | 1,500 | |||
Nonperforming Financing Receivable | Chapter Seven Bankruptcy | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans and leases | 616 | 616 | |||
Federal Housing Administration | Fully Insured Loans | Chapter Seven Bankruptcy | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans and leases | 603 | $ 603 | |||
Consumer Real Estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Minimum period for modified payments under trial modification | 3 months | ||||
Maximum period for modified payments under trial modification | 4 months | ||||
Real estate acquired through foreclosure | 372 | $ 372 | 444 | ||
Loans with formal foreclosure proceeding in process | 4,900 | 4,900 | |||
Real estate loans reclassified to foreclosed properties or other assets | 326 | $ 499 | 1,100 | $ 1,600 | |
Consumer Real Estate | Residential Mortgage | |||||
Unpaid Principal Balance | |||||
With no recorded allowance | 11,948 | 11,948 | 14,888 | ||
With an allowance recorded | 4,452 | 4,452 | 6,624 | ||
Total | 16,400 | 16,400 | 21,512 | ||
Carrying Value | |||||
With no recorded allowance | 9,369 | 9,369 | 11,901 | ||
With an allowance recorded | 4,335 | 4,335 | 6,471 | ||
Total | 13,704 | 13,704 | 18,372 | ||
Related Allowance | 242 | 242 | 399 | ||
Average Carrying Value | |||||
With no recorded allowance | 9,673 | 13,202 | 10,523 | 14,332 | |
With an allowance recorded | 4,676 | 7,398 | 5,371 | 7,563 | |
Total | 14,349 | 20,600 | 15,894 | 21,895 | |
Interest Income Recognized | |||||
With no recorded allowance | 83 | 97 | 277 | 310 | |
With an allowance recorded | 36 | 61 | 133 | 186 | |
Total | 119 | 158 | $ 410 | 496 | |
Consumer Real Estate | Home equity | |||||
Financing Receivable, Impaired [Line Items] | |||||
Threshold period past due for write-off of financing receivable | 180 days | ||||
Unpaid Principal Balance | |||||
With no recorded allowance | 3,734 | $ 3,734 | 3,545 | ||
With an allowance recorded | 940 | 940 | 1,047 | ||
Total | 4,674 | 4,674 | 4,592 | ||
Carrying Value | |||||
With no recorded allowance | 1,959 | 1,959 | 1,775 | ||
With an allowance recorded | 844 | 844 | 911 | ||
Total | 2,803 | 2,803 | 2,686 | ||
Related Allowance | 142 | 142 | $ 235 | ||
Average Carrying Value | |||||
With no recorded allowance | 1,964 | 1,835 | 1,883 | 1,777 | |
With an allowance recorded | 822 | 809 | 863 | 756 | |
Total | 2,786 | 2,644 | 2,746 | 2,533 | |
Interest Income Recognized | |||||
With no recorded allowance | 37 | 23 | 67 | 68 | |
With an allowance recorded | 7 | 6 | 18 | 18 | |
Total | $ 44 | $ 29 | $ 85 | $ 86 |
Outstanding Loans and Leases 70
Outstanding Loans and Leases - Consumer Real Estate - TDRs Entered into During the Period (Details) - Consumer Real Estate - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | $ 779 | $ 1,465 | $ 1,757 | $ 3,876 |
Carrying Value | $ 668 | $ 1,273 | $ 1,494 | $ 3,344 |
Pre-Modification Interest Rate | 4.87% | 4.60% | 4.47% | 4.69% |
Post-Modification Interest Rate | 4.10% | 4.42% | 3.71% | 4.20% |
Net Charge-offs | $ 21 | $ 53 | $ 52 | $ 125 |
Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | 487 | 1,163 | 1,039 | 3,052 |
Carrying Value | $ 445 | $ 1,030 | $ 942 | $ 2,707 |
Pre-Modification Interest Rate | 4.83% | 4.91% | 4.77% | 4.99% |
Post-Modification Interest Rate | 4.51% | 4.71% | 4.29% | 4.47% |
Net Charge-offs | $ 4 | $ 28 | $ 9 | $ 70 |
Principal forgiveness | 1 | 48 | 12 | 371 |
Home equity | ||||
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | 292 | 302 | 718 | 824 |
Carrying Value | $ 223 | $ 243 | $ 552 | $ 637 |
Pre-Modification Interest Rate | 4.95% | 3.41% | 4.03% | 3.55% |
Post-Modification Interest Rate | 3.41% | 3.34% | 2.87% | 3.20% |
Net Charge-offs | $ 17 | $ 25 | $ 43 | $ 55 |
Outstanding Loans and Leases Ou
Outstanding Loans and Leases Outstanding Loans and Leases - Consumer Real Estate - Modification Programs (Details) - Consumer Real Estate - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | $ 668 | $ 1,273 | $ 1,494 | $ 3,344 |
Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 23 | 77 | 153 | 517 |
Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 71 | 73 | 289 | 477 |
Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 490 | 1,003 | 853 | 2,011 |
Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 84 | 120 | 199 | 339 |
Contractual interest rate reduction | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 18 | 69 | 121 | 471 |
Contractual interest rate reduction | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 20 | 46 | 143 | 197 |
Capitalization of past due amounts | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 4 | 16 | 27 | 73 |
Principal and/or interest forbearance | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 2 | 1 | 11 | 11 |
Principal and/or interest forbearance | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 2 | 5 | 47 | 133 |
Other modifications | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 3 | 7 | 21 | 35 |
Other modifications | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 45 | 6 | 72 | 74 |
Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 445 | 1,030 | 942 | 2,707 |
Residential Mortgage | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 15 | 74 | 118 | 492 |
Residential Mortgage | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 26 | 71 | 90 | 369 |
Residential Mortgage | Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 343 | 793 | 593 | 1,609 |
Residential Mortgage | Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 61 | 92 | 141 | 237 |
Residential Mortgage | Contractual interest rate reduction | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 12 | 67 | 96 | 453 |
Residential Mortgage | Contractual interest rate reduction | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 19 | 46 | 58 | 179 |
Residential Mortgage | Capitalization of past due amounts | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 4 | 16 | 20 | 67 |
Residential Mortgage | Principal and/or interest forbearance | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 2 | 4 |
Residential Mortgage | Principal and/or interest forbearance | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 2 | 4 | 9 | 101 |
Residential Mortgage | Other modifications | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 3 | 7 | 20 | 35 |
Residential Mortgage | Other modifications | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 1 | 5 | 3 | 22 |
Home equity | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 223 | 243 | 552 | 637 |
Home equity | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 8 | 3 | 35 | 25 |
Home equity | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 45 | 2 | 199 | 108 |
Home equity | Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 147 | 210 | 260 | 402 |
Home equity | Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 23 | 28 | 58 | 102 |
Home equity | Contractual interest rate reduction | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 6 | 2 | 25 | 18 |
Home equity | Contractual interest rate reduction | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 1 | 0 | 85 | 18 |
Home equity | Capitalization of past due amounts | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 7 | 6 |
Home equity | Principal and/or interest forbearance | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 2 | 1 | 9 | 7 |
Home equity | Principal and/or interest forbearance | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 1 | 38 | 32 |
Home equity | Other modifications | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 1 | 0 |
Home equity | Other modifications | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | $ 44 | $ 1 | $ 69 | $ 52 |
Outstanding Loans and Leases 72
Outstanding Loans and Leases - Consumer Real Estate - TDRs Entering Payment Default That Were Modified During the Preceding 12 Months (Details) - Consumer Real Estate $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)payment | Sep. 30, 2015USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | $ 294 | $ 670 | $ 1,147 | $ 3,413 |
Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 51 | 119 | 230 | 327 |
Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 40 | 98 | 145 | 194 |
Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 42 | 77 | 124 | 229 |
Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 161 | 376 | $ 648 | 2,663 |
Loans in which customer did not response with payment to Department of Justice mailings | 59 | 1,600 | ||
Residential Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of missing payments causing default | payment | 3 | |||
Threshold period past due after modification of financing receivable | 90 days | |||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 253 | 598 | $ 1,001 | 3,250 |
Residential Mortgage | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 50 | 117 | 228 | 323 |
Residential Mortgage | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 29 | 97 | 107 | 175 |
Residential Mortgage | Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 36 | 57 | 107 | 189 |
Residential Mortgage | Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 138 | 327 | 559 | 2,563 |
Home equity | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 41 | 72 | 146 | 163 |
Home equity | Modifications under government programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 1 | 2 | 2 | 4 |
Home equity | Modifications under proprietary programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 11 | 1 | 38 | 19 |
Home equity | Loans discharged in Chapter 7 bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 6 | 20 | 17 | 40 |
Home equity | Trial modifications | ||||
Financing Receivable, Modifications [Line Items] | ||||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | $ 23 | $ 49 | $ 89 | $ 100 |
Outstanding Loans and Leases 73
Outstanding Loans and Leases - Credit Card and Other Consumer - Impaired Loans (Details) - Credit card and other consumer - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Fixed payment plan period for loans modified | 60 months | ||||
Threshold period past due for write-off of financing receivable | 180 days | ||||
Threshold period past due for write-off of financing receivable after placed on fixed payment plan | 120 days | ||||
Direct/Indirect Consumer | |||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | |||||
With no recorded allowance | $ 47 | $ 47 | $ 50 | ||
With an allowance recorded | 5 | 5 | 17 | ||
Total | 52 | 52 | 67 | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | |||||
With no recorded allowance | 20 | 20 | 21 | ||
With an allowance recorded | 6 | 6 | 21 | ||
Total | 26 | 26 | 42 | ||
Related Allowance | 1 | 1 | 4 | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||||
With no recorded allowance | 21 | $ 22 | 21 | $ 23 | |
With an allowance recorded | 7 | 40 | 12 | 60 | |
Total | 28 | 62 | 33 | 83 | |
Impaired Financing Receivable, Interest Income, Accrual and Cash Basis Method [Abstract] | |||||
With no recorded allowance | 0 | 0 | 0 | 0 | |
With an allowance recorded | 0 | 1 | 0 | 3 | |
Total | 0 | 1 | 0 | 3 | |
United States | Credit Card Receivable | |||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | |||||
With an allowance recorded | 500 | 500 | 598 | ||
Total | 500 | 500 | 598 | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | |||||
With an allowance recorded | 507 | 507 | 611 | ||
Total | 507 | 507 | 611 | ||
Related Allowance | 123 | 123 | 176 | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||||
With an allowance recorded | 539 | 714 | 571 | 779 | |
Total | 539 | 714 | 571 | 779 | |
Impaired Financing Receivable, Interest Income, Accrual and Cash Basis Method [Abstract] | |||||
With an allowance recorded | 7 | 10 | 24 | 34 | |
Total | 7 | 10 | 24 | 34 | |
Non United States | Credit Card Receivable | |||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | |||||
With an allowance recorded | 91 | 91 | 109 | ||
Total | 91 | 91 | 109 | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | |||||
With an allowance recorded | 104 | 104 | 126 | ||
Total | 104 | 104 | 126 | ||
Related Allowance | 62 | 62 | $ 70 | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | |||||
With an allowance recorded | 107 | 142 | 115 | 150 | |
Total | 107 | 142 | 115 | 150 | |
Impaired Financing Receivable, Interest Income, Accrual and Cash Basis Method [Abstract] | |||||
With an allowance recorded | 0 | 1 | 2 | 3 | |
Total | $ 0 | $ 1 | $ 2 | $ 3 |
Outstanding Loans and Leases 74
Outstanding Loans and Leases - Credit Card and Other Consumer - Renegotiated TDRs by Program Type (Details) - Credit card and other consumer - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 637 | $ 779 |
Percent of balances current or less than 30 days past due | 81.65% | 81.55% |
Internal Programs | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 252 | $ 345 |
External Programs | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 279 | 313 |
Other | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 106 | 121 |
Credit Card Receivable | United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 507 | $ 611 |
Percent of balances current or less than 30 days past due | 89.08% | 88.74% |
Credit Card Receivable | Non United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 104 | $ 126 |
Percent of balances current or less than 30 days past due | 42.84% | 44.25% |
Credit Card Receivable | Internal Programs | United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 237 | $ 313 |
Credit Card Receivable | Internal Programs | Non United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 12 | 21 |
Credit Card Receivable | External Programs | United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 269 | 296 |
Credit Card Receivable | External Programs | Non United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 8 | 10 |
Credit Card Receivable | Other | United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 1 | 2 |
Credit Card Receivable | Other | Non United States | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 84 | 95 |
Direct/Indirect Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 26 | $ 42 |
Percent of balances current or less than 30 days past due | 91.75% | 89.12% |
Direct/Indirect Consumer | Internal Programs | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 3 | $ 11 |
Direct/Indirect Consumer | External Programs | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | 2 | 7 |
Direct/Indirect Consumer | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Renegotiated TDRs | $ 21 | $ 24 |
Outstanding Loans and Leases 75
Outstanding Loans and Leases - Credit Card and Other Consumer - Renegotiated TDRs Entered into During the Period (Details) - Credit card and other consumer - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | $ 85 | $ 98 | $ 205 | $ 260 |
Carrying Value | $ 90 | $ 107 | $ 216 | $ 278 |
Pre-Modification Interest Rate | 19.55% | 19.12% | 19.05% | 18.72% |
Post-Modification Interest Rate | 3.27% | 3.37% | 3.72% | 3.65% |
Net Charge-offs | $ 26 | $ 33 | $ 43 | $ 58 |
Direct/Indirect Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | 7 | 7 | 16 | 16 |
Carrying Value | $ 4 | $ 4 | $ 9 | $ 10 |
Pre-Modification Interest Rate | 4.13% | 5.58% | 4.50% | 6.28% |
Post-Modification Interest Rate | 4.08% | 5.10% | 4.33% | 5.29% |
Net Charge-offs | $ 2 | $ 2 | $ 7 | $ 7 |
United States | Credit Card Receivable | ||||
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | 46 | 59 | 126 | 172 |
Carrying Value | $ 50 | $ 65 | $ 134 | $ 184 |
Pre-Modification Interest Rate | 17.48% | 17.10% | 17.42% | 16.98% |
Post-Modification Interest Rate | 5.33% | 4.97% | 5.45% | 5.02% |
Net Charge-offs | $ 4 | $ 8 | $ 8 | $ 16 |
Non United States | Credit Card Receivable | ||||
Financing Receivable, Modifications [Line Items] | ||||
Unpaid Principal Balance | 32 | 32 | 63 | 72 |
Carrying Value | $ 36 | $ 38 | $ 73 | $ 84 |
Pre-Modification Interest Rate | 24.11% | 24.04% | 23.93% | 24.01% |
Post-Modification Interest Rate | 0.38% | 0.43% | 0.44% | 0.45% |
Net Charge-offs | $ 20 | $ 23 | $ 28 | $ 35 |
Outstanding Loans and Leases 76
Outstanding Loans and Leases - Credit Card and Other Consumer - Renegotiated TDRs Entered into During the Period by Program Type (Details) - Credit card and other consumer - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | $ 90 | $ 107 | $ 216 | $ 278 |
Internal Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 28 | 42 | 73 | 122 |
External Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 24 | 25 | 66 | 69 |
Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 38 | 40 | 77 | 87 |
Direct/Indirect Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 4 | 4 | $ 9 | 10 |
Percent expected to be in payment default within 12 months after modification | 14.00% | |||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 0 | 1 | $ 2 | 3 |
Direct/Indirect Consumer | Internal Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 0 | 1 |
Direct/Indirect Consumer | External Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 0 | 0 |
Direct/Indirect Consumer | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 4 | 4 | 9 | 9 |
United States | Credit Card Receivable | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 50 | 65 | $ 134 | 184 |
Percent expected to be in payment default within 12 months after modification | 14.00% | |||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 7 | 11 | $ 23 | 33 |
United States | Credit Card Receivable | Internal Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 27 | 41 | 71 | 118 |
United States | Credit Card Receivable | External Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 23 | 24 | 63 | 66 |
United States | Credit Card Receivable | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 0 | 0 | 0 | 0 |
Non United States | Credit Card Receivable | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 36 | 38 | $ 73 | 84 |
Percent expected to be in payment default within 12 months after modification | 90.00% | |||
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 31 | 37 | $ 95 | 117 |
Non United States | Credit Card Receivable | Internal Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 1 | 1 | 2 | 3 |
Non United States | Credit Card Receivable | External Programs | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | 1 | 1 | 3 | 3 |
Non United States | Credit Card Receivable | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Carrying Value | $ 34 | $ 36 | $ 68 | $ 78 |
Outstanding Loans and Leases 77
Outstanding Loans and Leases - Commercial Loans - Impaired Loans (Details) - Commercial - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Modified loans receivable, commitments to lend additional funds | $ 487 | $ 487 | $ 187 | ||
Real estate acquired through foreclosure | 16 | 16 | 15 | ||
Commercial Real Estate | |||||
Unpaid Principal Balance | |||||
With no recorded allowance | 72 | 72 | 82 | ||
With an allowance recorded | 233 | 233 | 328 | ||
Total | 305 | 305 | 410 | ||
Carrying Value | |||||
With no recorded allowance | 65 | 65 | 77 | ||
With an allowance recorded | 70 | 70 | 107 | ||
Total | 135 | 135 | 184 | ||
Related Allowance | 7 | 7 | 11 | ||
Average Carrying Value | |||||
With no recorded allowance | 59 | $ 73 | 67 | $ 75 | |
With an allowance recorded | 87 | 179 | 95 | 248 | |
Total | 146 | 252 | 162 | 323 | |
Interest Income Recognized | |||||
With no recorded allowance | 0 | 0 | 0 | 1 | |
With an allowance recorded | 1 | 1 | 3 | 6 | |
Total | 1 | 1 | 3 | 7 | |
Commercial Lease Financing | |||||
Unpaid Principal Balance | |||||
With an allowance recorded | 7 | 7 | 0 | ||
Total | 7 | 7 | 0 | ||
Carrying Value | |||||
With an allowance recorded | 4 | 4 | 0 | ||
Total | 4 | 4 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Carrying Value | |||||
With an allowance recorded | 4 | 0 | 2 | 0 | |
Total | 4 | 0 | 2 | 0 | |
Interest Income Recognized | |||||
With an allowance recorded | 0 | 0 | 0 | 0 | |
Total | 0 | 0 | 0 | 0 | |
Small Business Commercial | |||||
Unpaid Principal Balance | |||||
With an allowance recorded | 92 | 92 | 105 | ||
Total | 92 | 92 | 105 | ||
Carrying Value | |||||
With an allowance recorded | 79 | 79 | 101 | ||
Total | 79 | 79 | 101 | ||
Related Allowance | 30 | 30 | 35 | ||
Average Carrying Value | |||||
With an allowance recorded | 81 | 110 | 91 | 112 | |
Total | 81 | 110 | 91 | 112 | |
Interest Income Recognized | |||||
With an allowance recorded | 1 | 0 | 1 | 0 | |
Total | 1 | 0 | 1 | 0 | |
United States | |||||
Unpaid Principal Balance | |||||
With no recorded allowance | 1,146 | 1,146 | 566 | ||
With an allowance recorded | 1,970 | 1,970 | 1,350 | ||
Total | 3,116 | 3,116 | 1,916 | ||
Carrying Value | |||||
With no recorded allowance | 1,109 | 1,109 | 541 | ||
With an allowance recorded | 1,553 | 1,553 | 1,157 | ||
Total | 2,662 | 2,662 | 1,698 | ||
Related Allowance | 149 | 149 | 115 | ||
Average Carrying Value | |||||
With no recorded allowance | 940 | 776 | 726 | 704 | |
With an allowance recorded | 1,624 | 981 | 1,570 | 902 | |
Total | 2,564 | 1,757 | 2,296 | 1,606 | |
Interest Income Recognized | |||||
With no recorded allowance | 5 | 4 | 10 | 12 | |
With an allowance recorded | 16 | 11 | 46 | 36 | |
Total | 21 | 15 | 56 | 48 | |
Non United States | |||||
Unpaid Principal Balance | |||||
With no recorded allowance | 35 | 35 | 4 | ||
With an allowance recorded | 715 | 715 | 531 | ||
Total | 750 | 750 | 535 | ||
Carrying Value | |||||
With no recorded allowance | 35 | 35 | 4 | ||
With an allowance recorded | 575 | 575 | 381 | ||
Total | 610 | 610 | 385 | ||
Related Allowance | 72 | 72 | $ 56 | ||
Average Carrying Value | |||||
With no recorded allowance | 32 | 53 | 18 | 30 | |
With an allowance recorded | 397 | 102 | 372 | 96 | |
Total | 429 | 155 | 390 | 126 | |
Interest Income Recognized | |||||
With no recorded allowance | 0 | 0 | 0 | 1 | |
With an allowance recorded | 5 | 1 | 11 | 2 | |
Total | $ 5 | $ 1 | $ 11 | $ 3 |
Outstanding Loans and Leases 78
Outstanding Loans and Leases - Commercial Loans TDRs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | |||||
Threshold period past due for nonperforming status of financing receivables | 90 days | 90 days | |||
Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | $ 817,000,000 | $ 376,000,000 | $ 1,770,000,000 | $ 1,074,000,000 | |
Carrying Value | 792,000,000 | 353,000,000 | 1,667,000,000 | 997,000,000 | |
Net Charge-offs | 14,000,000 | 12,000,000 | $ 94,000,000 | 18,000,000 | |
Threshold period past due for nonperforming status of financing receivables | 90 days | ||||
Commercial | Commercial Real Estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | 4,000,000 | 17,000,000 | $ 11,000,000 | 47,000,000 | |
Carrying Value | 4,000,000 | 17,000,000 | 11,000,000 | 47,000,000 | |
Net Charge-offs | 0 | 0 | 1,000,000 | 0 | |
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 17,000,000 | 26,000,000 | |||
Commercial | Commercial Lease Financing | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | 2,000,000 | 7,000,000 | |||
Carrying Value | 2,000,000 | 4,000,000 | |||
Net Charge-offs | 0 | 2,000,000 | |||
Commercial | Small Business Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | 1,000,000 | 2,000,000 | 4,000,000 | 5,000,000 | |
Carrying Value | 1,000,000 | 2,000,000 | 4,000,000 | 5,000,000 | |
Net Charge-offs | 0 | 0 | 0 | 0 | |
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 2,000,000 | 0 | |||
United States | Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | 793,000,000 | 347,000,000 | 1,483,000,000 | 977,000,000 | |
Carrying Value | 768,000,000 | 324,000,000 | 1,447,000,000 | 900,000,000 | |
Net Charge-offs | 14,000,000 | 12,000,000 | 43,000,000 | 18,000,000 | |
Trouble debt restructurings entered payment default that were modified during the preceding twelve months | 123,000,000 | 85,000,000 | |||
Non United States | Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Unpaid Principal Balance | 17,000,000 | 10,000,000 | 265,000,000 | 45,000,000 | |
Carrying Value | 17,000,000 | 10,000,000 | 201,000,000 | 45,000,000 | |
Net Charge-offs | $ 0 | $ 0 | $ 48,000,000 | $ 0 |
Outstanding Loans and Leases 79
Outstanding Loans and Leases - Purchased Credit-Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Accretable yield, beginning of period | $ 4,042 | $ 4,569 | ||
Accretion | (176) | (553) | ||
Disposals/transfers | (129) | (364) | ||
Reclassifications from nonaccretable difference | 34 | 119 | ||
Accretable yield, end of period | 3,771 | 3,771 | ||
Purchased credit impaired loans sold | 111 | $ 220 | 435 | $ 1,200 |
Purchased Credit - impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing receivable allowance sold | $ 11 | $ 38 | $ 50 | $ 213 |
Outstanding Loans and Leases 80
Outstanding Loans and Leases - Loans Held-for-Sale (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Receivables [Abstract] | |||
Loans held-for-sale | $ 10,586 | $ 7,453 | |
Proceeds including cash and securities from sales securitizations and paydowns of loans held for sale | 22,100 | $ 31,700 | |
Originations and purchases | $ 24,154 | $ 29,731 |
Allowance for Credit Losses - C
Allowance for Credit Losses - Changes in Allowance by Portfolio Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning balance | $ 11,837 | $ 13,068 | $ 12,234 | $ 14,419 |
Loans and leases charged off | (1,277) | (1,375) | (4,151) | (4,573) |
Recoveries of loans and leases previously charged off | 389 | 443 | 1,210 | 1,379 |
Net charge-offs | (888) | (932) | (2,941) | (3,194) |
Provision for loan and lease losses | 834 | 733 | 2,802 | 2,218 |
Other | (8) | (64) | (133) | (60) |
Allowance for loan and lease losses, ending balance | 11,692 | 12,657 | 11,692 | 12,657 |
Provision for unfunded lending commitments | 850 | 806 | 2,823 | 2,351 |
Reserve for unfunded lending commitments, ending balance | 12,459 | 13,318 | 12,459 | 13,318 |
Unfunded loan commitments | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Other | 1 | 100 | ||
Reserve for unfunded lending commitments, beginning balance | 750 | 588 | 646 | 528 |
Provision for unfunded lending commitments | 16 | 73 | 21 | 133 |
Reserve for unfunded lending commitments, ending balance | 767 | 661 | 767 | 661 |
Purchased Credit - impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Loans and leases charged off | (83) | (148) | (270) | (726) |
Provision for loan and lease losses | 8 | (68) | (81) | (40) |
Reserve for unfunded lending commitments, beginning balance | 804 | |||
Reserve for unfunded lending commitments, ending balance | 453 | 453 | ||
Consumer Real Estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning balance | 3,209 | 4,741 | 3,914 | 5,935 |
Loans and leases charged off | (246) | (345) | (928) | (1,430) |
Recoveries of loans and leases previously charged off | 145 | 199 | 464 | 587 |
Net charge-offs | (101) | (146) | (464) | (843) |
Provision for loan and lease losses | (36) | (12) | (191) | 68 |
Other | 0 | (35) | 0 | (34) |
Allowance for loan and lease losses, ending balance | 2,989 | 4,400 | 2,989 | 4,400 |
Reserve for unfunded lending commitments, ending balance | 2,989 | 4,400 | 2,989 | 4,400 |
Consumer Real Estate | Unfunded loan commitments | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Other | 0 | 0 | ||
Reserve for unfunded lending commitments, beginning balance | 0 | 0 | 0 | 0 |
Provision for unfunded lending commitments | 0 | 0 | 0 | 0 |
Reserve for unfunded lending commitments, ending balance | 0 | 0 | 0 | 0 |
Consumer Real Estate | Purchased Credit - impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Loans and leases charged off | (83) | (148) | (270) | (726) |
Reserve for unfunded lending commitments, beginning balance | 804 | |||
Reserve for unfunded lending commitments, ending balance | 453 | 453 | ||
Credit Card and Other Consumer | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning balance | 3,334 | 3,702 | 3,471 | 4,047 |
Loans and leases charged off | (868) | (873) | (2,664) | (2,733) |
Recoveries of loans and leases previously charged off | 191 | 198 | 584 | 618 |
Net charge-offs | (677) | (675) | (2,080) | (2,115) |
Provision for loan and lease losses | 741 | 554 | 2,031 | 1,646 |
Other | (8) | (29) | (32) | (26) |
Allowance for loan and lease losses, ending balance | 3,390 | 3,552 | 3,390 | 3,552 |
Reserve for unfunded lending commitments, ending balance | 3,390 | 3,552 | 3,390 | 3,552 |
Credit Card and Other Consumer | Unfunded loan commitments | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Other | 0 | 0 | ||
Reserve for unfunded lending commitments, beginning balance | 0 | 0 | 0 | 0 |
Provision for unfunded lending commitments | 0 | 0 | 0 | 0 |
Reserve for unfunded lending commitments, ending balance | 0 | 0 | 0 | 0 |
Credit Card and Other Consumer | Purchased Credit - impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Loans and leases charged off | 0 | 0 | 0 | 0 |
Commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance for loan and lease losses, beginning balance | 5,294 | 4,625 | 4,849 | 4,437 |
Loans and leases charged off | (163) | (157) | (559) | (410) |
Recoveries of loans and leases previously charged off | 53 | 46 | 162 | 174 |
Net charge-offs | (110) | (111) | (397) | (236) |
Provision for loan and lease losses | 129 | 191 | 962 | 504 |
Other | 0 | 0 | (101) | 0 |
Allowance for loan and lease losses, ending balance | 5,313 | 4,705 | 5,313 | 4,705 |
Reserve for unfunded lending commitments, ending balance | 6,080 | 5,366 | 6,080 | 5,366 |
Commercial | Unfunded loan commitments | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Other | 1 | 100 | ||
Reserve for unfunded lending commitments, beginning balance | 750 | 588 | 646 | 528 |
Provision for unfunded lending commitments | 16 | 73 | 21 | 133 |
Reserve for unfunded lending commitments, ending balance | 767 | 661 | 767 | 661 |
Commercial | Purchased Credit - impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Loans and leases charged off | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance for Credit Losses - A
Allowance for Credit Losses - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (benefit) for loan and lease losses | $ 834 | $ 733 | $ 2,802 | $ 2,218 | |
Loans and leases charged off | 1,277 | 1,375 | 4,151 | 4,573 | |
Allowance for credit losses | 12,459 | 13,318 | 12,459 | 13,318 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (benefit) for loan and lease losses | 8 | (68) | (81) | (40) | |
Loans and leases charged off | 83 | 148 | 270 | 726 | |
Financing receivable allowance sold | 11 | $ 38 | 50 | $ 213 | |
Allowance for credit losses | $ 453 | $ 453 | $ 804 |
Allowance for Credit Losses -83
Allowance for Credit Losses - Allowance and Carrying Value by Portfolio Segment (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Impaired loans and troubled debt restructurings | ||||||
Allowance for loan and lease losses | $ 828 | $ 1,101 | ||||
Carrying value | $ 20,634 | $ 24,205 | ||||
Allowance as a percentage of carrying value | 4.01% | 4.55% | ||||
Loans collectively evaluated for impairment | ||||||
Allowance for loan and lease losses | $ 10,411 | $ 10,329 | ||||
Carrying value | $ 861,798 | $ 849,155 | ||||
Allowance as a percentage of carrying value | 1.21% | 1.22% | ||||
Purchased credit-impaired loans | ||||||
Valuation allowance | $ 12,459 | $ 13,318 | ||||
Valuation allowance as a percentage of carrying value | 3.13% | 4.82% | ||||
Total | ||||||
Allowance for loan and lease losses | $ 11,692 | $ 11,837 | $ 12,234 | 12,657 | $ 13,068 | $ 14,419 |
Carrying value | $ 896,900 | $ 890,045 | ||||
Allowance as a percentage of carrying value | 1.30% | 1.37% | ||||
Loans and leases, measured at fair value | $ 8,108 | $ 6,938 | ||||
Small Business Commercial Loan | United States | ||||||
Total | ||||||
Allowance for loan and lease losses | 30 | 35 | ||||
Purchased Credit - impaired | ||||||
Purchased credit-impaired loans | ||||||
Valuation allowance | 453 | 804 | ||||
Carrying value gross of valuation allowance | 14,468 | 16,685 | ||||
Consumer Real Estate | ||||||
Impaired loans and troubled debt restructurings | ||||||
Allowance for loan and lease losses | 384 | 634 | ||||
Carrying value | $ 16,507 | $ 21,058 | ||||
Allowance as a percentage of carrying value | 2.33% | 3.01% | ||||
Loans collectively evaluated for impairment | ||||||
Allowance for loan and lease losses | $ 2,152 | $ 2,476 | ||||
Carrying value | $ 225,990 | $ 226,116 | ||||
Allowance as a percentage of carrying value | 0.95% | 1.10% | ||||
Purchased credit-impaired loans | ||||||
Valuation allowance | $ 2,989 | 4,400 | ||||
Valuation allowance as a percentage of carrying value | 3.13% | 4.82% | ||||
Total | ||||||
Allowance for loan and lease losses | $ 2,989 | 3,209 | $ 3,914 | 4,400 | 4,741 | 5,935 |
Carrying value | $ 256,965 | $ 263,859 | ||||
Allowance as a percentage of carrying value | 1.16% | 1.48% | ||||
Loans and leases, measured at fair value | $ 1,800 | $ 1,900 | ||||
Consumer Real Estate | Purchased Credit - impaired | ||||||
Purchased credit-impaired loans | ||||||
Valuation allowance | 453 | 804 | ||||
Carrying value gross of valuation allowance | 14,468 | 16,685 | ||||
Credit Card and Other Consumer | ||||||
Impaired loans and troubled debt restructurings | ||||||
Allowance for loan and lease losses | 186 | 250 | ||||
Carrying value | $ 637 | $ 779 | ||||
Allowance as a percentage of carrying value | 29.20% | 32.09% | ||||
Loans collectively evaluated for impairment | ||||||
Allowance for loan and lease losses | $ 3,204 | $ 3,221 | ||||
Carrying value | $ 193,093 | $ 189,660 | ||||
Allowance as a percentage of carrying value | 1.66% | 1.70% | ||||
Purchased credit-impaired loans | ||||||
Valuation allowance | $ 3,390 | 3,552 | ||||
Total | ||||||
Allowance for loan and lease losses | 3,390 | 3,334 | $ 3,471 | 3,552 | 3,702 | 4,047 |
Carrying value | $ 193,730 | $ 190,439 | ||||
Allowance as a percentage of carrying value | 1.75% | 1.82% | ||||
Commercial | ||||||
Impaired loans and troubled debt restructurings | ||||||
Allowance for loan and lease losses | $ 258 | $ 217 | ||||
Carrying value | $ 3,490 | $ 2,368 | ||||
Allowance as a percentage of carrying value | 7.39% | 9.16% | ||||
Loans collectively evaluated for impairment | ||||||
Allowance for loan and lease losses | $ 5,055 | $ 4,632 | ||||
Carrying value | $ 442,715 | $ 433,379 | ||||
Allowance as a percentage of carrying value | 1.14% | 1.07% | ||||
Purchased credit-impaired loans | ||||||
Valuation allowance | $ 6,080 | 5,366 | ||||
Total | ||||||
Allowance for loan and lease losses | 5,313 | $ 5,294 | $ 4,849 | $ 4,705 | $ 4,625 | $ 4,437 |
Carrying value | $ 446,205 | $ 435,747 | ||||
Allowance as a percentage of carrying value | 1.19% | 1.11% | ||||
Loans and leases, measured at fair value | $ 6,340 | $ 5,067 | ||||
Commercial | United States | ||||||
Total | ||||||
Loans and leases, measured at fair value | $ 2,600 | $ 2,300 |
Securitizations and Other Var84
Securitizations and Other Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Variable Interest Entity [Line Items] | |||
Consolidated total assets | $ 2,195,314 | $ 2,144,287 | $ 2,152,962 |
Accounting Standards Update 2015-02 | Unconsolidated VIEs | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure | 4,900 | ||
Consolidated total assets | $ 13,400 |
Securitizations and Other Var85
Securitizations and Other Variable Interest Entities - First Lien Mortgage Securitizations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Servicing fees | $ 280 | $ 307 | $ 868 | $ 1,000 | |
First Lien Mortgages | |||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Gain (loss) on loans securitized | 149 | 192 | 349 | 623 | |
Servicing advance | 6,600 | 6,600 | $ 7,800 | ||
Loans repurchased from investors and securitization trusts | 684 | 511 | 2,100 | 2,400 | |
First Lien Mortgages | Level 2 | |||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Transfers of financial assets accounted for as sale initial fair value of assets | 1,200 | 7,000 | 3,100 | 20,000 | |
Agency | |||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Cash proceeds from new securitizations | 7,131 | 7,632 | 18,580 | 22,304 | |
Gain on securitizations | 89 | 118 | 322 | 475 | |
Assets of deconsolidated securitization vehicles | 326 | 3,100 | |||
Gain on sale of securitization vehicles | 11 | 125 | |||
Commercial Mortgage | |||||
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||||
Cash proceeds from new securitizations | 1,052 | 807 | 3,031 | 5,695 | |
Gain on securitizations | $ 27 | $ 14 | $ 18 | $ 46 |
Securitizations and Other Var86
Securitizations and Other Variable Interest Entities - First Lien Mortgage VIEs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
On-balance sheet assets | |||||
Trading account assets | $ 187,849,000,000 | $ 187,849,000,000 | $ 176,527,000,000 | ||
Debt securities carried at fair value | 322,505,000,000 | 322,505,000,000 | 322,380,000,000 | ||
Held-to-maturity securities | 112,409,000,000 | 112,409,000,000 | 84,508,000,000 | ||
Loans and leases | 905,008,000,000 | 905,008,000,000 | 896,983,000,000 | ||
All other assets | 111,365,000,000 | 111,365,000,000 | 114,688,000,000 | ||
Total assets | 2,195,314,000,000 | $ 2,152,962,000,000 | 2,195,314,000,000 | $ 2,152,962,000,000 | 2,144,287,000,000 |
On-balance sheet liabilities | |||||
Long-term debt | 225,136,000,000 | 225,136,000,000 | 236,764,000,000 | ||
Total liabilities | 1,925,231,000,000 | 1,925,231,000,000 | 1,888,111,000,000 | ||
Unpaid principal balance of mortgage loans eligible for repurchase | 326,000,000 | 326,000,000 | 222,000,000 | ||
Principal amount that would be payable to the securitization vehicles | 326,000,000 | 326,000,000 | 222,000,000 | ||
Loans and leases, measured at fair value | 8,108,000,000 | 8,108,000,000 | 6,938,000,000 | ||
Recurring | |||||
On-balance sheet assets | |||||
Trading account assets | 187,849,000,000 | 187,849,000,000 | 176,527,000,000 | ||
On-balance sheet liabilities | |||||
Loans and leases, measured at fair value | 8,108,000,000 | 8,108,000,000 | 6,938,000,000 | ||
Unconsolidated VIEs | First Lien Mortgage Securitization Trusts | Available-for-sale Securities | |||||
On-balance sheet liabilities | |||||
Other than temporary impairment losses recorded on debt securities | 0 | $ 0 | 0 | $ 0 | |
Unconsolidated VIEs | Agency | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 24,492,000,000 | 24,492,000,000 | 28,192,000,000 | ||
On-balance sheet assets | |||||
Residual interests held | 0 | 0 | 0 | ||
All other assets | 13,000,000 | 13,000,000 | 15,000,000 | ||
Total assets | 24,492,000,000 | 24,492,000,000 | 28,192,000,000 | ||
Principal amount outstanding | 284,246,000,000 | 284,246,000,000 | 313,613,000,000 | ||
Unconsolidated VIEs | Agency | Senior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 1,345,000,000 | 1,345,000,000 | 1,297,000,000 | ||
Debt securities carried at fair value | 19,322,000,000 | 19,322,000,000 | 24,369,000,000 | ||
Held-to-maturity securities | 3,812,000,000 | 3,812,000,000 | 2,511,000,000 | ||
Unconsolidated VIEs | Agency | Junior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 0 | 0 | 0 | ||
Debt securities carried at fair value | 0 | 0 | 0 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Prime | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 778,000,000 | 778,000,000 | 1,027,000,000 | ||
On-balance sheet assets | |||||
Residual interests held | 0 | 0 | 0 | ||
All other assets | 29,000,000 | 29,000,000 | 40,000,000 | ||
Total assets | 531,000,000 | 531,000,000 | 708,000,000 | ||
Principal amount outstanding | 13,767,000,000 | 13,767,000,000 | 16,087,000,000 | ||
Unconsolidated VIEs | Non-agency | Prime | Senior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 14,000,000 | 14,000,000 | 42,000,000 | ||
Debt securities carried at fair value | 478,000,000 | 478,000,000 | 613,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Prime | Junior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 1,000,000 | 1,000,000 | 1,000,000 | ||
Debt securities carried at fair value | 9,000,000 | 9,000,000 | 12,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Subprime | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 2,626,000,000 | 2,626,000,000 | 2,905,000,000 | ||
On-balance sheet assets | |||||
Residual interests held | 0 | 0 | 0 | ||
All other assets | 0 | 0 | 0 | ||
Total assets | 2,359,000,000 | 2,359,000,000 | 2,613,000,000 | ||
Principal amount outstanding | 24,396,000,000 | 24,396,000,000 | 27,854,000,000 | ||
Unconsolidated VIEs | Non-agency | Subprime | Senior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 54,000,000 | 54,000,000 | 94,000,000 | ||
Debt securities carried at fair value | 2,274,000,000 | 2,274,000,000 | 2,479,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Subprime | Junior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 29,000,000 | 29,000,000 | 37,000,000 | ||
Debt securities carried at fair value | 2,000,000 | 2,000,000 | 3,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Alt-A Loan | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 539,000,000 | 539,000,000 | 622,000,000 | ||
On-balance sheet assets | |||||
Residual interests held | 0 | 0 | 0 | ||
All other assets | 114,000,000 | 114,000,000 | 153,000,000 | ||
Total assets | 539,000,000 | 539,000,000 | 622,000,000 | ||
Principal amount outstanding | 35,969,000,000 | 35,969,000,000 | 40,848,000,000 | ||
Unconsolidated VIEs | Non-agency | Alt-A Loan | Senior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 84,000,000 | 84,000,000 | 99,000,000 | ||
Debt securities carried at fair value | 315,000,000 | 315,000,000 | 340,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Non-agency | Alt-A Loan | Junior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 1,000,000 | 1,000,000 | 2,000,000 | ||
Debt securities carried at fair value | 25,000,000 | 25,000,000 | 28,000,000 | ||
Held-to-maturity securities | 0 | 0 | 0 | ||
Unconsolidated VIEs | Commercial Mortgage | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 332,000,000 | 332,000,000 | 326,000,000 | ||
On-balance sheet assets | |||||
Residual interests held | 32,000,000 | 32,000,000 | 48,000,000 | ||
All other assets | 0 | 0 | 0 | ||
Total assets | 199,000,000 | 199,000,000 | 233,000,000 | ||
Principal amount outstanding | 21,032,000,000 | 21,032,000,000 | 34,243,000,000 | ||
Unconsolidated VIEs | Commercial Mortgage | Senior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 29,000,000 | 29,000,000 | 59,000,000 | ||
Debt securities carried at fair value | 0 | 0 | 0 | ||
Held-to-maturity securities | 55,000,000 | 55,000,000 | 37,000,000 | ||
Unconsolidated VIEs | Commercial Mortgage | Junior Lien | |||||
On-balance sheet assets | |||||
Trading account assets | 16,000,000 | 16,000,000 | 22,000,000 | ||
Debt securities carried at fair value | 54,000,000 | 54,000,000 | 54,000,000 | ||
Held-to-maturity securities | 13,000,000 | 13,000,000 | 13,000,000 | ||
Consolidated VIEs | Recurring | |||||
On-balance sheet liabilities | |||||
Loans and leases, measured at fair value | 655,000,000 | 655,000,000 | |||
Consolidated VIEs | Agency | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 19,384,000,000 | 19,384,000,000 | 26,878,000,000 | ||
On-balance sheet assets | |||||
Trading account assets | 383,000,000 | 383,000,000 | 1,101,000,000 | ||
Loans and leases | 18,562,000,000 | 18,562,000,000 | 25,328,000,000 | ||
All other assets | 441,000,000 | 441,000,000 | 449,000,000 | ||
Total assets | 19,386,000,000 | 19,386,000,000 | 26,878,000,000 | ||
On-balance sheet liabilities | |||||
Long-term debt | 2,000,000 | 2,000,000 | 0 | ||
All other liabilities | 3,000,000 | 3,000,000 | 1,000,000 | ||
Total liabilities | 5,000,000 | 5,000,000 | 1,000,000 | ||
Consolidated VIEs | Non-agency | Prime | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 52,000,000 | 52,000,000 | 65,000,000 | ||
On-balance sheet assets | |||||
Trading account assets | 0 | 0 | 0 | ||
Loans and leases | 83,000,000 | 83,000,000 | 111,000,000 | ||
All other assets | 3,000,000 | 3,000,000 | 0 | ||
Total assets | 86,000,000 | 86,000,000 | 111,000,000 | ||
On-balance sheet liabilities | |||||
Long-term debt | 34,000,000 | 34,000,000 | 46,000,000 | ||
All other liabilities | 0 | 0 | 0 | ||
Total liabilities | 34,000,000 | 34,000,000 | 46,000,000 | ||
Consolidated VIEs | Non-agency | Subprime | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 153,000,000 | 153,000,000 | 232,000,000 | ||
On-balance sheet assets | |||||
Trading account assets | 0 | 0 | 188,000,000 | ||
Loans and leases | 572,000,000 | 572,000,000 | 675,000,000 | ||
All other assets | 70,000,000 | 70,000,000 | 54,000,000 | ||
Total assets | 642,000,000 | 642,000,000 | 917,000,000 | ||
On-balance sheet liabilities | |||||
Long-term debt | 613,000,000 | 613,000,000 | 840,000,000 | ||
All other liabilities | 0 | 0 | 0 | ||
Total liabilities | 613,000,000 | 613,000,000 | 840,000,000 | ||
Consolidated VIEs | Non-agency | Alt-A Loan | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 0 | 0 | 0 | ||
On-balance sheet assets | |||||
Trading account assets | 0 | 0 | 0 | ||
Loans and leases | 0 | 0 | 0 | ||
All other assets | 0 | 0 | 0 | ||
Total assets | 0 | 0 | 0 | ||
On-balance sheet liabilities | |||||
Long-term debt | 0 | 0 | 0 | ||
All other liabilities | 0 | 0 | 0 | ||
Total liabilities | 0 | 0 | 0 | ||
Consolidated VIEs | Commercial Mortgage | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 0 | 0 | 0 | ||
On-balance sheet assets | |||||
Trading account assets | 0 | 0 | 0 | ||
Loans and leases | 0 | 0 | 0 | ||
All other assets | 0 | 0 | 0 | ||
Total assets | 0 | 0 | 0 | ||
On-balance sheet liabilities | |||||
Long-term debt | 0 | 0 | 0 | ||
All other liabilities | 0 | 0 | 0 | ||
Total liabilities | $ 0 | $ 0 | $ 0 |
Securitizations and Other Var87
Securitizations and Other Variable Interest Entities - Home Equity Loan, Credit Card and Other Asset-backed VIEs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
On-balance sheet assets | ||||||||
Trading account assets | $ 187,849,000,000 | $ 187,849,000,000 | $ 176,527,000,000 | |||||
Debt securities carried at fair value | 322,505,000,000 | 322,505,000,000 | 322,380,000,000 | |||||
Held-to-maturity securities | 112,409,000,000 | 112,409,000,000 | 84,508,000,000 | |||||
Loans and leases | 905,008,000,000 | 905,008,000,000 | 896,983,000,000 | |||||
Allowance for loan and lease losses | (11,692,000,000) | $ (12,657,000,000) | (11,692,000,000) | $ (12,657,000,000) | $ (11,837,000,000) | (12,234,000,000) | $ (13,068,000,000) | $ (14,419,000,000) |
All other assets | 111,365,000,000 | 111,365,000,000 | 114,688,000,000 | |||||
Total assets | 2,195,314,000,000 | 2,152,962,000,000 | 2,195,314,000,000 | 2,152,962,000,000 | 2,144,287,000,000 | |||
On-balance sheet liabilities | ||||||||
Long-term debt | 225,136,000,000 | 225,136,000,000 | 236,764,000,000 | |||||
Total liabilities | 1,925,231,000,000 | 1,925,231,000,000 | 1,888,111,000,000 | |||||
Home Equity Loan, Credit Card and Other Asset-backed Securitization Trusts | Unconsolidated VIEs | Available-for-Sale and Held-to-Maturity Securities | ||||||||
On-balance sheet liabilities | ||||||||
Other than temporary impairment losses recorded on debt securities | 0 | $ 0 | 0 | $ 0 | ||||
Home equity | Unconsolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 3,338,000,000 | 3,338,000,000 | 3,988,000,000 | |||||
On-balance sheet assets | ||||||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 48,000,000 | 48,000,000 | 57,000,000 | |||||
Home equity | Consolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 163,000,000 | 163,000,000 | 231,000,000 | |||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Loans and leases | 263,000,000 | 263,000,000 | 321,000,000 | |||||
Allowance for loan and lease losses | (16,000,000) | (16,000,000) | (18,000,000) | |||||
All other assets | 6,000,000 | 6,000,000 | 20,000,000 | |||||
Total assets | 253,000,000 | 253,000,000 | 323,000,000 | |||||
On-balance sheet liabilities | ||||||||
Short-term borrowings | 0 | 0 | 0 | |||||
Long-term debt | 123,000,000 | 123,000,000 | 183,000,000 | |||||
All other liabilities | 0 | 0 | 0 | |||||
Total liabilities | 123,000,000 | 123,000,000 | 183,000,000 | |||||
Home equity | Senior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 48,000,000 | 48,000,000 | 57,000,000 | |||||
Held-to-maturity securities | 0 | 0 | 0 | |||||
Home equity | Junior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Credit Card Receivable | Unconsolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 0 | 0 | 0 | |||||
On-balance sheet assets | ||||||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 0 | 0 | 0 | |||||
Credit Card Receivable | Consolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 25,101,000,000 | 25,101,000,000 | 32,678,000,000 | |||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Loans and leases | 34,872,000,000 | 34,872,000,000 | 43,194,000,000 | |||||
Allowance for loan and lease losses | (1,060,000,000) | (1,060,000,000) | (1,293,000,000) | |||||
All other assets | 283,000,000 | 283,000,000 | 342,000,000 | |||||
Total assets | 34,095,000,000 | 34,095,000,000 | 42,243,000,000 | |||||
On-balance sheet liabilities | ||||||||
Short-term borrowings | 0 | 0 | 0 | |||||
Long-term debt | 8,977,000,000 | 8,977,000,000 | 9,550,000,000 | |||||
All other liabilities | 17,000,000 | 17,000,000 | 15,000,000 | |||||
Total liabilities | 8,994,000,000 | 8,994,000,000 | 9,565,000,000 | |||||
Credit Card Receivable | Consolidated VIEs | Loans and leases | ||||||||
On-balance sheet liabilities | ||||||||
Residual interests held | 17,300,000,000 | 17,300,000,000 | 24,700,000,000 | |||||
Credit Card Receivable | Senior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Held-to-maturity securities | 0 | 0 | 0 | |||||
Credit Card Receivable | Junior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Resecuritization Trusts | Unconsolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 10,200,000,000 | 10,200,000,000 | 13,046,000,000 | |||||
On-balance sheet assets | ||||||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 10,201,000,000 | 10,201,000,000 | 13,046,000,000 | |||||
Resecuritization Trusts | Consolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 180,000,000 | 180,000,000 | 354,000,000 | |||||
On-balance sheet assets | ||||||||
Trading account assets | 456,000,000 | 456,000,000 | 771,000,000 | |||||
Loans and leases | 0 | 0 | 0 | |||||
Allowance for loan and lease losses | 0 | 0 | 0 | |||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 456,000,000 | 456,000,000 | 771,000,000 | |||||
On-balance sheet liabilities | ||||||||
Short-term borrowings | 0 | 0 | 0 | |||||
Long-term debt | 276,000,000 | 276,000,000 | 417,000,000 | |||||
All other liabilities | 0 | 0 | 0 | |||||
Total liabilities | 276,000,000 | 276,000,000 | 417,000,000 | |||||
Resecuritization Trusts | Senior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 670,000,000 | 670,000,000 | 1,248,000,000 | |||||
Debt securities carried at fair value | 2,585,000,000 | 2,585,000,000 | 4,341,000,000 | |||||
Held-to-maturity securities | 6,820,000,000 | 6,820,000,000 | 7,370,000,000 | |||||
Resecuritization Trusts | Junior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 55,000,000 | 55,000,000 | 17,000,000 | |||||
Debt securities carried at fair value | 71,000,000 | 71,000,000 | 70,000,000 | |||||
Municipal Bond Trusts | Unconsolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 1,760,000,000 | 1,760,000,000 | 1,572,000,000 | |||||
On-balance sheet assets | ||||||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 26,000,000 | 26,000,000 | 2,000,000 | |||||
Municipal Bond Trusts | Consolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 1,770,000,000 | 1,770,000,000 | 1,973,000,000 | |||||
On-balance sheet assets | ||||||||
Trading account assets | 1,797,000,000 | 1,797,000,000 | 1,984,000,000 | |||||
Loans and leases | 0 | 0 | 0 | |||||
Allowance for loan and lease losses | 0 | 0 | 0 | |||||
All other assets | 0 | 0 | 1,000,000 | |||||
Total assets | 1,797,000,000 | 1,797,000,000 | 1,985,000,000 | |||||
On-balance sheet liabilities | ||||||||
Short-term borrowings | 546,000,000 | 546,000,000 | 681,000,000 | |||||
Long-term debt | 12,000,000 | 12,000,000 | 12,000,000 | |||||
All other liabilities | 15,000,000 | 15,000,000 | 0 | |||||
Total liabilities | 573,000,000 | 573,000,000 | 693,000,000 | |||||
Municipal Bond Trusts | Senior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 26,000,000 | 26,000,000 | 2,000,000 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Held-to-maturity securities | 0 | 0 | 0 | |||||
Municipal Bond Trusts | Junior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Automobile and Other Securitization Trusts | Unconsolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 49,000,000 | 49,000,000 | 63,000,000 | |||||
On-balance sheet assets | ||||||||
All other assets | 0 | 0 | 10,000,000 | |||||
Total assets | 49,000,000 | 49,000,000 | 63,000,000 | |||||
Automobile and Other Securitization Trusts | Consolidated VIEs | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Maximum loss exposure | 0 | 0 | 0 | |||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Loans and leases | 0 | 0 | 0 | |||||
Allowance for loan and lease losses | 0 | 0 | 0 | |||||
All other assets | 0 | 0 | 0 | |||||
Total assets | 0 | 0 | 0 | |||||
On-balance sheet liabilities | ||||||||
Short-term borrowings | 0 | 0 | 0 | |||||
Long-term debt | 0 | 0 | 0 | |||||
All other liabilities | 0 | 0 | 0 | |||||
Total liabilities | 0 | 0 | 0 | |||||
Automobile and Other Securitization Trusts | Senior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 49,000,000 | 49,000,000 | 53,000,000 | |||||
Held-to-maturity securities | 0 | 0 | 0 | |||||
Automobile and Other Securitization Trusts | Junior Lien | Unconsolidated VIEs | ||||||||
On-balance sheet assets | ||||||||
Trading account assets | 0 | 0 | 0 | |||||
Debt securities carried at fair value | 0 | 0 | 0 | |||||
Unconsolidated VIEs | Home equity | ||||||||
On-balance sheet assets | ||||||||
Unconsolidated total assets of VIEs | 4,999,000,000 | 4,999,000,000 | 5,883,000,000 | |||||
Unconsolidated VIEs | Credit Card Receivable | ||||||||
On-balance sheet assets | ||||||||
Unconsolidated total assets of VIEs | 0 | 0 | 0 | |||||
Unconsolidated VIEs | Resecuritization Trusts | ||||||||
On-balance sheet assets | ||||||||
Unconsolidated total assets of VIEs | 24,489,000,000 | 24,489,000,000 | 35,362,000,000 | |||||
Unconsolidated VIEs | Municipal Bond Trusts | ||||||||
On-balance sheet assets | ||||||||
Unconsolidated total assets of VIEs | 2,626,000,000 | 2,626,000,000 | 2,518,000,000 | |||||
Unconsolidated VIEs | Automobile and Other Securitization Trusts | ||||||||
On-balance sheet assets | ||||||||
Unconsolidated total assets of VIEs | $ 179,000,000 | $ 179,000,000 | $ 314,000,000 |
Securitizations and Other Var88
Securitizations and Other Variable Interest Entities - Other Asset-backed Securitizations Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Variable Interest Entity [Line Items] | |||||
Home equity lines of credit funded | $ 1,000,000 | $ 6,000,000 | |||
Home equity | |||||
Variable Interest Entity [Line Items] | |||||
Trust certificates outstanding | $ 3,300,000,000 | 3,300,000,000 | $ 4,000,000,000 | ||
Credit Card Receivable | |||||
Variable Interest Entity [Line Items] | |||||
Principal amount outstanding | $ 7,500,000,000 | $ 7,500,000,000 | $ 7,500,000,000 | ||
Transferred financial assets, stated interest rate | 0.00% | 0.00% | 0.00% | ||
Credit Card Receivable | Senior Lien | |||||
Variable Interest Entity [Line Items] | |||||
Transferred financial assets, amount issued | $ 0 | $ 0 | $ 750,000,000 | 2,300,000,000 | |
Credit Card Receivable | Junior Lien | |||||
Variable Interest Entity [Line Items] | |||||
Transferred financial assets, amount issued | 0 | 0 | 121,000,000 | 371,000,000 | |
Resecuritization Trusts | |||||
Variable Interest Entity [Line Items] | |||||
Cash proceeds from new securitizations | 5,600,000,000 | 9,100,000,000 | 20,300,000,000 | 22,100,000,000 | |
Resecuritization Trusts | Available-for-sale Securities | |||||
Variable Interest Entity [Line Items] | |||||
Cash proceeds from new securitizations | 0 | 0 | 0 | 0 | |
Resecuritization Trusts | Debt securities | |||||
Variable Interest Entity [Line Items] | |||||
Cash proceeds from new securitizations | 430,000,000 | 3,500,000,000 | 2,600,000,000 | 5,200,000,000 | |
Resecuritization Trusts | Other Security Investments | |||||
Variable Interest Entity [Line Items] | |||||
Gain on sale of investments | 0 | $ 0 | 0 | $ 0 | |
Municipal Bond Trusts | Unconsolidated VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Liquidity commitments to unconsolidated securitization trusts | 1,700,000,000 | $ 1,700,000,000 | $ 1,600,000,000 | ||
Weighted average remaining life of bonds held in the trusts in years | 6 years 2 months 12 days | ||||
Automobile and Other Securitization Trusts | |||||
Variable Interest Entity [Line Items] | |||||
Principal amount outstanding | 179,000,000 | $ 179,000,000 | 314,000,000 | ||
Other Loan and Receivable | |||||
Variable Interest Entity [Line Items] | |||||
Principal amount outstanding | 179,000,000 | 179,000,000 | 189,000,000 | ||
Automobile Loan | |||||
Variable Interest Entity [Line Items] | |||||
Principal amount outstanding | $ 0 | $ 0 | $ 125,000,000 |
Securitizations and Other Var89
Securitizations and Other Variable Interest Entities - Other Variable Interest Entities (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
On-balance sheet assets | ||||||
Trading account assets | $ 187,849 | $ 176,527 | ||||
Debt securities carried at fair value | 322,505 | 322,380 | ||||
Loans and leases | 905,008 | 896,983 | ||||
Allowance for loan and lease losses | (11,692) | $ (11,837) | (12,234) | $ (12,657) | $ (13,068) | $ (14,419) |
Loans held-for-sale | 10,586 | 7,453 | ||||
All other assets | 111,365 | 114,688 | ||||
Total assets | 2,195,314 | 2,144,287 | $ 2,152,962 | |||
On-balance sheet liabilities | ||||||
Long-term debt | 225,136 | 236,764 | ||||
Total liabilities | 1,925,231 | 1,888,111 | ||||
Other Variable Interest Entities | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum loss exposure | 23,962 | 19,211 | ||||
On-balance sheet assets | ||||||
Trading account assets | 3,501 | 2,666 | ||||
Debt securities carried at fair value | 84 | 126 | ||||
Loans and leases | 6,996 | 6,706 | ||||
Allowance for loan and lease losses | (38) | (32) | ||||
Loans held-for-sale | 1,130 | 1,309 | ||||
All other assets | 11,914 | 7,589 | ||||
Total assets | 23,587 | 18,364 | ||||
On-balance sheet liabilities | ||||||
Long-term debt | 1,172 | 3,025 | ||||
All other liabilities | 2,749 | 2,702 | ||||
Total liabilities | 3,921 | 5,727 | ||||
Other Variable Interest Entities | Consolidated VIEs | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum loss exposure | 6,904 | 6,295 | ||||
On-balance sheet assets | ||||||
Trading account assets | 3,063 | 2,300 | ||||
Debt securities carried at fair value | 0 | 0 | ||||
Loans and leases | 3,474 | 3,317 | ||||
Allowance for loan and lease losses | (9) | (9) | ||||
Loans held-for-sale | 209 | 284 | ||||
All other assets | 664 | 664 | ||||
Total assets | 7,401 | 6,556 | ||||
On-balance sheet liabilities | ||||||
Long-term debt | 1,172 | 3,025 | ||||
All other liabilities | 3 | 5 | ||||
Total liabilities | 1,175 | 3,030 | ||||
Long-term debt with recourse to general corporation credit | 678 | 2,800 | ||||
Other Variable Interest Entities | Unconsolidated VIEs | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum loss exposure | 17,058 | 12,916 | ||||
On-balance sheet assets | ||||||
Trading account assets | 438 | 366 | ||||
Debt securities carried at fair value | 84 | 126 | ||||
Loans and leases | 3,522 | 3,389 | ||||
Allowance for loan and lease losses | (29) | (23) | ||||
Loans held-for-sale | 921 | 1,025 | ||||
All other assets | 11,250 | 6,925 | ||||
Total assets | 16,186 | 11,808 | ||||
On-balance sheet liabilities | ||||||
Long-term debt | 0 | 0 | ||||
All other liabilities | 2,746 | 2,697 | ||||
Total liabilities | 2,746 | 2,697 | ||||
Other Variable Interest Entities | Unconsolidated VIEs | ||||||
On-balance sheet liabilities | ||||||
Consolidated total assets of VIEs | 7,401 | 6,556 | ||||
Unconsolidated total assets of VIEs | 62,353 | 49,190 | ||||
Total assets of VIEs | $ 69,754 | $ 55,746 |
Securitizations and Other Var90
Securitizations and Other Variable Interest Entities - Other Variable Interest Entities, Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Variable Interest Entity [Line Items] | |||||
Consolidated total assets | $ 2,195,314 | $ 2,152,962 | $ 2,195,314 | $ 2,152,962 | $ 2,144,287 |
Customer Vehicles | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 3,700 | 3,700 | 3,900 | ||
Liquidity commitments to unconsolidated securitization trusts | 646 | 646 | 691 | ||
Collateralized Debt Obligations | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 819 | 819 | 543 | ||
Notional amount of liquidity exposure | 175 | 175 | |||
Investment Vehicles | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 5,800 | 5,800 | 5,100 | ||
Investment Vehicles | Consolidated VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Consolidated total assets | 970 | 970 | 397 | ||
Investment Vehicles | Unconsolidated VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure | 150 | 150 | 150 | ||
Consolidated total assets | 19,000 | 19,000 | 14,700 | ||
Consolidated total assets of VIEs | 84 | 84 | 122 | ||
Leveraged Lease Trusts | Consolidated VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Consolidated total assets | 2,700 | 2,700 | 2,800 | ||
Tax Credit Vehicles | |||||
Variable Interest Entity [Line Items] | |||||
Unfunded commitments to provide capital contributions | 2,200 | $ 2,200 | 2,400 | ||
Commitment payment period | 5 years | ||||
Tax credits and other tax benefits from investments | 337 | 239 | $ 819 | 727 | |
Income tax benefit, percentage recognized | 25.00% | ||||
Tax Credit Vehicles | Other Income | |||||
Variable Interest Entity [Line Items] | |||||
Income (loss) from affordable housing projects | 200 | $ 153 | $ 596 | $ 508 | |
Tax Credit Vehicles | Other assets | |||||
Variable Interest Entity [Line Items] | |||||
Affordable housing tax credit investments | 6,800 | 6,800 | 7,100 | ||
Tax Credit Vehicles | Unconsolidated VIEs | |||||
Variable Interest Entity [Line Items] | |||||
Consolidated total assets | $ 10,800 | $ 10,800 | $ 6,500 |
Representations and Warrantie91
Representations and Warranties Obligations and Corporate Guarantees - Settlement Actions (Details) | Sep. 30, 2016monoline_insurer |
Representations and Warranties Obligations and Corporate Guarantees [Abstract] | |
Number of monoline insurers | 4 |
Representations and Warrantie92
Representations and Warranties Obligations and Corporate Guarantees - Unresolved Repurchase Claims (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | |||
Total unresolved repurchase claims by product type, net of duplicate claims | $ 18,312 | $ 18,312 | $ 18,364 |
Outstanding claims with review | 11,900 | 11,900 | 11,900 |
Outstanding claims without review | 4,800 | 4,800 | 4,800 |
New purchase claims | 20 | 614 | |
New purchase claims, deemed time-barred | 0 | 440 | |
Amount of loan repurchase claims resolved | 27 | 666 | |
Loan repurchase claims resolved, deemed time-barred | 0 | 477 | |
Unresolved repurchase claims, repurchase demands amount | 1,300 | 1,300 | 1,400 |
Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | |||
Loss Contingencies [Line Items] | |||
Total unresolved repurchase claims by product type, net of duplicate claims | 16,713 | 16,713 | 16,748 |
Monolines | |||
Loss Contingencies [Line Items] | |||
Total unresolved repurchase claims by product type, net of duplicate claims | 1,590 | 1,590 | 1,599 |
GSEs | |||
Loss Contingencies [Line Items] | |||
Total unresolved repurchase claims by product type, net of duplicate claims | $ 9 | $ 9 | $ 17 |
Representations and Warrantie93
Representations and Warranties Obligations and Corporate Guarantees - Private-label Securitization and Whole-loan Sales Experience (Details) - USD ($) $ in Billions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||
Inactive claims, threshold period of inactivity after denial | 6 months | |
Mortgage Loans Originated between 2004 and 2008 | Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | ||
Loss Contingencies [Line Items] | ||
Notional amount of unresolved repurchase claims | $ 16.7 | $ 16.7 |
Mortgage Loans Originated between 2004 and 2008 | Private-Label Securitization Trustees | ||
Loss Contingencies [Line Items] | ||
Amount in which corporation owns substantially all outstanding bonds in the tranche | $ 3.5 | $ 3.5 |
Representations and Warrantie94
Representations and Warranties Obligations and Corporate Guarantees - Liabilities (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Maximum | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Estimate of possible loss (up to) | $ 1,100 | $ 1,100 | |||
Bank of New York Mellon, As Trustee Settlement | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Litigation settlement | $ 8,500 | ||||
Representations and Warranties Obligations and Corporate Guarantees | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Additions for new sales | 1 | $ 2 | 3 | $ 5 | |
Net reductions | (23) | (174) | (8,687) | (581) | |
Representations and Warranties Exposure | Maximum | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Estimate of possible loss (up to) | 2,000 | 2,000 | |||
Provision for Loan Lease and Other Losses | Representations and Warranties Obligations and Corporate Guarantees | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Provision (benefit) | 99 | 75 | 158 | (46) | |
Accrued Expenses And Other Liabilities | Representations and Warranties Obligations and Corporate Guarantees | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Liability for representations and warranties and corporate guarantees, beginning of period | 2,723 | 11,556 | 11,326 | 12,081 | |
Liability for representations and warranties and corporate guarantees, June 30 | $ 2,800 | $ 11,459 | $ 2,800 | $ 11,459 |
Goodwill and Intangible Asset95
Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Goodwill [Line Items] | ||
Total goodwill | $ 69,744 | $ 69,761 |
Operating Segments | Consumer Banking | ||
Goodwill [Line Items] | ||
Total goodwill | 30,123 | 30,123 |
Operating Segments | Global Wealth & Investment Management | ||
Goodwill [Line Items] | ||
Total goodwill | 9,681 | 9,698 |
Operating Segments | Global Banking | ||
Goodwill [Line Items] | ||
Total goodwill | 23,923 | 23,923 |
Operating Segments | Global Markets | ||
Goodwill [Line Items] | ||
Total goodwill | 5,197 | 5,197 |
All Other | ||
Goodwill [Line Items] | ||
Total goodwill | $ 820 | $ 820 |
Goodwill and Intangible Asset96
Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 14,600 | $ 14,855 |
Accumulated Amortization | 11,432 | 11,087 |
Net Carrying Value | 3,168 | 3,768 |
Trade Names | ||
Schedule of Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets [Line Items] | ||
Net Carrying Value | 1,600 | 1,600 |
Purchased credit card and affinity relationships | ||
Schedule of Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 6,876 | 7,006 |
Accumulated Amortization | 6,213 | 6,111 |
Net Carrying Value | 663 | 895 |
Customer relationships | ||
Schedule of Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 3,887 | 3,927 |
Accumulated Amortization | 3,196 | 2,990 |
Net Carrying Value | 691 | 937 |
Core deposit and other intangibles | ||
Schedule of Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 3,837 | 3,922 |
Accumulated Amortization | 2,023 | 1,986 |
Net Carrying Value | $ 1,814 | $ 1,936 |
Goodwill and Intangible Asset97
Goodwill and Intangible Assets - Additional Information (Details) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of intangibles | $ 181 | $ 207 | $ 554 | $ 632 |
Remainder of 2016 | 179 | 179 | ||
2,017 | 638 | 638 | ||
2,018 | 559 | 559 | ||
2,019 | 118 | 118 | ||
2,020 | 57 | 57 | ||
2,021 | $ 3 | $ 3 |
Federal Funds Sold or Purchas98
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Amount | ||||
Average liability amount during year | $ 207,634 | $ 257,323 | $ 215,131 | $ 251,231 |
Rate | ||||
Average liability rate during year (percent) | 1.09% | 0.92% | 1.12% | 0.99% |
Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Amount | ||||
Average liability amount during year | $ 177,883 | $ 219,613 | $ 184,500 | $ 218,112 |
Maximum month-end liability balance during year | $ 192,536 | $ 235,232 | $ 196,631 | $ 235,232 |
Rate | ||||
Average liability rate during year (percent) | 0.93% | 0.83% | 1.00% | 0.92% |
Short-term borrowings | ||||
Amount | ||||
Average liability amount during year | $ 29,751 | $ 37,710 | $ 30,631 | $ 33,119 |
Maximum month-end liability balance during year | $ 31,935 | $ 40,110 | $ 33,051 | $ 40,110 |
Rate | ||||
Average liability rate during year (percent) | 2.02% | 1.44% | 1.85% | 1.47% |
Federal funds sold and securities borrowed or purchased under agreements to resell | ||||
Amount | ||||
Average asset outstanding amount | $ 214,254 | $ 210,127 | $ 215,476 | $ 212,781 |
Maximum month-end asset outstanding amount | $ 222,489 | $ 217,701 | $ 225,015 | $ 226,502 |
Rate | ||||
Average asset outstanding rate (percent) | 0.50% | 0.52% | 0.50% | 0.49% |
Federal Funds Sold or Purchas99
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Securities borrowed or purchased under agreements to resell: | ||
Gross Assets | $ 361,474 | $ 347,281 |
Amounts Offset | (142,664) | (154,799) |
Net Balance Sheet Amount | 218,810 | 192,482 |
Financial Instruments | (168,580) | (144,332) |
Net Assets | 50,230 | 48,150 |
Securities loaned or sold under agreements to repurchase: | ||
Gross Liabilities | 320,847 | 329,078 |
Amounts Offset | (142,664) | (154,799) |
Net Balance Sheet Amount | 178,183 | 174,279 |
Financial Instruments | (148,316) | (135,737) |
Net Liabilities | 29,867 | 38,542 |
Other: | ||
Gross Liabilities | 15,588 | 13,235 |
Amounts Offset | 0 | 0 |
Net Balance Sheet Amount | 15,588 | 13,235 |
Financial Instruments | (15,588) | (13,235) |
Net Liabilities | 0 | 0 |
Total Securities Financing Agreements Liability: | ||
Gross Liabilities | 336,435 | 342,313 |
Amounts Offset | (142,664) | (154,799) |
Net Balance Sheet Amount | 193,771 | 187,514 |
Financial Instruments | (163,904) | (148,972) |
Net Liabilities | 29,867 | 38,542 |
Loans and leases repurchased | $ 11,300 | $ 9,300 |
Federal Funds Sold or Purcha100
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings - Repurchase Agreements and Securities Loaned Transactions Accounted for as Secured Borrowings (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Remaining Contractual Maturity | ||
Securities sold under agreements to repurchase | $ 300,391 | $ 284,303 |
Securities loaned | 20,456 | 44,775 |
Other | 15,588 | 13,235 |
Total | $ 336,435 | 342,313 |
Maximum agreement maturity period (less than) | 3 years | |
Overnight and Continuous | ||
Remaining Contractual Maturity | ||
Securities sold under agreements to repurchase | $ 143,277 | 126,694 |
Securities loaned | 15,372 | 39,772 |
Other | 15,588 | 13,235 |
Total | 174,237 | 179,701 |
30 Days or Less | ||
Remaining Contractual Maturity | ||
Securities sold under agreements to repurchase | 72,784 | 86,879 |
Securities loaned | 1,458 | 363 |
Other | 0 | 0 |
Total | 74,242 | 87,242 |
After 30 Days Through 90 Days | ||
Remaining Contractual Maturity | ||
Securities sold under agreements to repurchase | 43,945 | 43,216 |
Securities loaned | 1,804 | 2,352 |
Other | 0 | 0 |
Total | 45,749 | 45,568 |
Greater than 90 Days | ||
Remaining Contractual Maturity | ||
Securities sold under agreements to repurchase | 40,385 | 27,514 |
Securities loaned | 1,822 | 2,288 |
Other | 0 | 0 |
Total | $ 42,207 | $ 29,802 |
Federal Funds Sold or Purcha101
Federal Funds Sold or Purchased, Securities Financing Agreements and Short-term Borrowings - Class of Collateral Pledged (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | $ 300,391 | $ 284,303 |
Securities loaned | 20,456 | 44,775 |
Other | 15,588 | 13,235 |
Total | 336,435 | 342,313 |
U.S. government and agency securities | ||
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | 177,348 | 142,572 |
Securities loaned | 0 | 0 |
Other | 137 | 27 |
Total | 177,485 | 142,599 |
Corporate securities, trading loans and other | ||
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | 8,724 | 11,767 |
Securities loaned | 1,475 | 265 |
Other | 326 | 278 |
Total | 10,525 | 12,310 |
Equity securities | ||
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | 20,517 | 32,323 |
Securities loaned | 11,261 | 13,350 |
Other | 15,089 | 12,929 |
Total | 46,867 | 58,602 |
Non-U.S. sovereign debt | ||
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | 85,885 | 87,849 |
Securities loaned | 7,720 | 31,160 |
Other | 36 | 1 |
Total | 93,641 | 119,010 |
Mortgage trading loans and ABS | ||
Class of Collateral Pledged | ||
Securities sold under agreements to repurchase | 7,917 | 9,792 |
Securities loaned | 0 | 0 |
Other | 0 | 0 |
Total | $ 7,917 | $ 9,792 |
Commitments and Contingencies -
Commitments and Contingencies - Credit Extension Commitments Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Other Commitments [Line Items] | ||
Legally binding unfunded commitments syndicated | $ 12,400 | $ 14,300 |
Carrying amount credit extension commitments syndicated | 785 | 664 |
Deferred revenue | 18 | 18 |
Other liabilities reserve for unfunded lending commitments | 767 | 646 |
Notional amount of credit extension commitments under fair value option | 7,700 | 10,900 |
Unfunded loan commitments | ||
Other Commitments [Line Items] | ||
Fair value carrying amount liabilities | $ 216 | $ 658 |
Commitments and Contingencie103
Commitments and Contingencies - Credit Extension Commitments (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Other Commitments [Line Items] | ||
Expire in One Year or Less | $ 492,085 | $ 483,319 |
Expire After One Year Through Three Years | 156,956 | 147,778 |
Expire After Three Years Through Five Years | 162,175 | 167,689 |
Expire After Five Years | 46,646 | 58,081 |
Total | 857,862 | 856,867 |
Loan Commitments | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 83,122 | 84,884 |
Expire After One Year Through Three Years | 133,262 | 119,272 |
Expire After Three Years Through Five Years | 155,783 | 158,920 |
Expire After Five Years | 21,500 | 37,112 |
Total | 393,667 | 400,188 |
Home equity | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 8,349 | 7,074 |
Expire After One Year Through Three Years | 12,779 | 18,438 |
Expire After Three Years Through Five Years | 2,871 | 5,126 |
Expire After Five Years | 23,713 | 19,697 |
Total | 47,712 | 50,335 |
Standby letters of credit and financial guarantees | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 19,198 | 19,584 |
Expire After One Year Through Three Years | 10,820 | 9,903 |
Expire After Three Years Through Five Years | 3,347 | 3,385 |
Expire After Five Years | 1,355 | 1,218 |
Total | 34,720 | 34,090 |
Standby letters of credit and financial guarantees | Consumer Portfolio Segment | ||
Other Commitments [Line Items] | ||
Total | 129 | 164 |
Standby letters of credit and financial guarantees | Investment grade | ||
Other Commitments [Line Items] | ||
Total | 26,300 | 25,500 |
Standby letters of credit and financial guarantees | Non-investment grade | ||
Other Commitments [Line Items] | ||
Total | 8,300 | 8,400 |
Letters of credit | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 1,460 | 1,650 |
Expire After One Year Through Three Years | 95 | 165 |
Expire After Three Years Through Five Years | 174 | 258 |
Expire After Five Years | 78 | 54 |
Total | 1,807 | 2,127 |
Legally binding commitments | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 112,129 | 113,192 |
Expire After One Year Through Three Years | 156,956 | 147,778 |
Expire After Three Years Through Five Years | 162,175 | 167,689 |
Expire After Five Years | 46,646 | 58,081 |
Total | 477,906 | 486,740 |
Credit card lines | ||
Other Commitments [Line Items] | ||
Expire in One Year or Less | 379,956 | 370,127 |
Expire After One Year Through Three Years | 0 | 0 |
Expire After Three Years Through Five Years | 0 | 0 |
Expire After Five Years | 0 | 0 |
Total | $ 379,956 | $ 370,127 |
Commitments and Contingencie104
Commitments and Contingencies - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Remainder of 2016 | $ 604,000,000 | $ 604,000,000 | |||
2,017 | 2,300,000,000 | 2,300,000,000 | |||
2,018 | 2,000,000,000 | 2,000,000,000 | |||
2,019 | 1,700,000,000 | 1,700,000,000 | |||
2,020 | 1,500,000,000 | 1,500,000,000 | |||
Thereafter | 5,400,000,000 | 5,400,000,000 | |||
Deposit insurance increase per quarter | 100,000,000 | ||||
Litigation expense | 250,000,000 | $ 231,000,000 | 908,000,000 | $ 776,000,000 | |
Merchant Processing Servicers, Sponsored Entities | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Transactions processed and settled by sponsored entities | 189,900,000,000 | 168,600,000,000 | 527,700,000,000 | 494,200,000,000 | |
Losses as result of cardholder disputed transactions | 9,000,000 | 6,000,000 | 23,000,000 | 16,000,000 | |
Merchant escrow deposits held as collateral | 175,000,000 | 175,000,000 | $ 181,000,000 | ||
Minimum | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Estimate of possible loss | 0 | 0 | |||
Maximum | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Estimate of possible loss | 1,100,000,000 | 1,100,000,000 | |||
Payment Protection Insurance | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Loss contingency accrual | 165,000,000 | 165,000,000 | 360,000,000 | ||
Provision (benefit) | 0 | $ 13,000,000 | 303,000,000 | $ 319,000,000 | |
Life Insurance Book Value Protection | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Notional amount of derivatives | 13,900,000,000 | 13,900,000,000 | 13,800,000,000 | ||
Maximum potential exposure | 3,200,000,000 | 3,200,000,000 | 3,100,000,000 | ||
Net fair value of bank-owned life insurance book value protection | 6,000,000 | 6,000,000 | 12,000,000 | ||
Merchant Services | Merchant Processing Servicers, Sponsored Entities | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Maximum potential exposure | 302,100,000,000 | 302,100,000,000 | 277,100,000,000 | ||
Other Guarantee | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Maximum potential exposure | 6,500,000,000 | 6,500,000,000 | 6,000,000,000 | ||
Commodities Investment | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | 1,900,000,000 | 1,900,000,000 | 1,900,000,000 | ||
Forward-Dated Resale and Securities Borrowing Agreements | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | 50,000,000,000 | 50,000,000,000 | 88,600,000,000 | ||
Forward-Dated Repurchase and Securities Lending Agreements | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | 28,600,000,000 | 28,600,000,000 | 53,700,000,000 | ||
Retail Automotive Loans | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | 1,800,000,000 | 1,800,000,000 | 1,200,000,000 | ||
Auto Loans and Leases | |||||
Loss Contingencies [Line Items] | |||||
Other commitment due in the remainder of 2016 | 620,000,000 | 620,000,000 | |||
Other commitment due in 2017 | $ 2,400,000,000 | $ 2,400,000,000 | |||
Merchant Servicing Joint Venture | |||||
Operating Leases, Future Minimum Payments Due [Abstract] | |||||
Equity method investment ownership percentage | 49.00% | 49.00% | |||
Residential and Commercial Portfolio Segments | Residential and Commercial Financing Receivable | Loan Commitments | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | $ 902,000,000 | $ 902,000,000 | 729,000,000 | ||
Commercial | Loan Commitments | |||||
Loss Contingencies [Line Items] | |||||
Other commitments | $ 630,000,000 | $ 630,000,000 | $ 874,000,000 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Oct. 27, 2016 | Jul. 27, 2016 | Apr. 27, 2016 | Jan. 21, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2016 | Sep. 30, 2015 |
Common Stock | |||||||||
Common stock dividends declared (in dollars per share) | $ 0.075 | $ 0.05 | $ 0.05 | ||||||
Common stock repurchased | $ 3,782 | $ 1,575 | |||||||
Share-based compensation, number of shares authorized (in shares) | 1,600 | 1,600 | |||||||
Preferred Stock | |||||||||
Preferred stock dividends | $ 503 | $ 361 | $ 457 | $ 1,321 | $ 1,153 | ||||
Warrants Expiring January 16, 2019 | |||||||||
Common Stock | |||||||||
Warrants outstanding (in shares) | 150 | 150 | |||||||
Minimum required dividend rate (in dollars per share) | $ 0.01 | $ 0.01 | |||||||
Exercise price per warrant (in dollars per share) | $ 12.980 | $ 12.980 | |||||||
Warrants Expiring October 28, 2018 | |||||||||
Common Stock | |||||||||
Warrants outstanding (in shares) | 122 | 122 | |||||||
Minimum required dividend rate (in dollars per share) | $ 0.32 | $ 0.32 | |||||||
Common Stock | |||||||||
Common Stock | |||||||||
Stock issued (in shares) | 9 | ||||||||
Shares paid for tax withholding for share based compensation (in shares) | 4 | ||||||||
2016 Capital Plan | |||||||||
Common Stock | |||||||||
Common stock repurchased (in shares) | 93 | ||||||||
Common stock repurchased | $ 1,400 | ||||||||
Subsequent Event | |||||||||
Common Stock | |||||||||
Common stock dividends declared (in dollars per share) | $ 0.075 |
Accumulated Other Comprehens106
Accumulated Other Comprehensive Income (Loss) - Change in Accumulated OCI (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | $ 256,176 | $ 243,476 | |||
Cumulative adjustment for accounting change | $ 0 | ||||
Net change | $ 268 | $ 1,476 | 3,657 | 1,209 | |
Ending Balance | 270,083 | 255,861 | 270,083 | 255,861 | |
Debit Valuation Adjustments | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (611) | ||||
Cumulative adjustment for accounting change | (1,226) | ||||
Net change | 49 | 633 | |||
Ending Balance | (562) | (593) | (562) | (593) | |
Derivatives | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (1,077) | (1,661) | |||
Net change | 277 | 416 | |||
Ending Balance | (800) | (1,245) | (800) | (1,245) | |
Employee Benefit Plans | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (2,956) | (3,350) | |||
Net change | 29 | 77 | |||
Ending Balance | (2,927) | (3,273) | (2,927) | (3,273) | |
Foreign currency | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (792) | (669) | |||
Net change | (17) | (84) | |||
Ending Balance | (809) | (753) | (809) | (753) | |
Total | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | (5,358) | (4,022) | |||
Cumulative adjustment for accounting change | $ (1,226) | ||||
Net change | 3,657 | 1,209 | |||
Ending Balance | (1,701) | (4,039) | (1,701) | (4,039) | |
Debt securities | Available-for-sale debt securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | 16 | 1,641 | |||
Net change | 3,362 | 169 | |||
Ending Balance | 3,378 | 1,810 | 3,378 | 1,810 | |
Equity securities | Available-for-sale debt securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Beginning Balance | 62 | 17 | |||
Net change | (43) | (2) | |||
Ending Balance | $ 19 | $ 15 | $ 19 | $ 15 |
Accumulated Other Comprehens107
Accumulated Other Comprehensive Income (Loss) - Changes in OCI Components Before- and After-tax (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Before-tax | ||
Total other comprehensive income (loss) | $ 6,060 | $ 2,545 |
Tax effect | ||
Total other comprehensive income (loss) | (2,403) | (1,336) |
After-tax | ||
Total other comprehensive income, net of tax | 3,657 | 1,209 |
Available-for-sale debt securities | Debt securities | ||
Before-tax | ||
Net increase (decrease) in fair value | 5,896 | 1,089 |
Net realized (gains) losses reclassified into earnings | (476) | (809) |
Total other comprehensive income (loss) | 5,420 | 280 |
Tax effect | ||
Tax effect of other comprehensive income (loss) before reclassification | (2,239) | (418) |
Net realized (gains) losses reclassified into earnings | 181 | 307 |
Total other comprehensive income (loss) | (2,058) | (111) |
After-tax | ||
Other comprehensive income (loss) before reclassification, net of tax | 3,657 | 671 |
Net realized (gains) losses reclassified into earnings | (295) | (502) |
Total other comprehensive income, net of tax | 3,362 | 169 |
Available-for-sale debt securities | Equity securities | ||
Before-tax | ||
Net increase (decrease) in fair value | (70) | (3) |
Total other comprehensive income (loss) | (70) | (3) |
Tax effect | ||
Tax effect of other comprehensive income (loss) before reclassification | 27 | 1 |
Total other comprehensive income (loss) | 27 | 1 |
After-tax | ||
Other comprehensive income (loss) before reclassification, net of tax | (43) | (2) |
Total other comprehensive income, net of tax | (43) | (2) |
Debit Valuation Adjustments | ||
Before-tax | ||
Net increase (decrease) in fair value | 61 | 475 |
Net realized (gains) losses reclassified into earnings | 18 | 545 |
Total other comprehensive income (loss) | 79 | 1,020 |
Tax effect | ||
Tax effect of other comprehensive income (loss) before reclassification | (23) | (181) |
Net realized (gains) losses reclassified into earnings | (7) | (206) |
Total other comprehensive income (loss) | (30) | (387) |
After-tax | ||
Other comprehensive income (loss) before reclassification, net of tax | 38 | 294 |
Net realized (gains) losses reclassified into earnings | 11 | 339 |
Total other comprehensive income, net of tax | 49 | 633 |
Derivatives | ||
Before-tax | ||
Net increase (decrease) in fair value | (64) | (42) |
Net realized (gains) losses reclassified into earnings | 508 | 711 |
Total other comprehensive income (loss) | 444 | 669 |
Tax effect | ||
Tax effect of other comprehensive income (loss) before reclassification | 23 | 14 |
Net realized (gains) losses reclassified into earnings | (190) | (267) |
Total other comprehensive income (loss) | (167) | (253) |
After-tax | ||
Other comprehensive income (loss) before reclassification, net of tax | (41) | (28) |
Net realized (gains) losses reclassified into earnings | 318 | 444 |
Total other comprehensive income, net of tax | 277 | 416 |
Employee Benefit Plans | ||
Before-tax | ||
Net realized (gains) losses reclassified into earnings | 64 | 128 |
Settlements, curtailments and other | 0 | (2) |
Total other comprehensive income (loss) | 64 | 126 |
Tax effect | ||
Net realized (gains) losses reclassified into earnings | (25) | (49) |
Settlements, curtailments and other | (10) | 0 |
Total other comprehensive income (loss) | (35) | (49) |
After-tax | ||
Net realized (gains) losses reclassified into earnings | 39 | 79 |
Settlements, curtailments and other | (10) | (2) |
Total other comprehensive income, net of tax | 29 | 77 |
Foreign currency | ||
Before-tax | ||
Net increase (decrease) in fair value | 123 | 482 |
Net realized (gains) losses reclassified into earnings | 0 | (29) |
Total other comprehensive income (loss) | 123 | 453 |
Tax effect | ||
Tax effect of other comprehensive income (loss) before reclassification | (140) | (566) |
Net realized (gains) losses reclassified into earnings | 0 | 29 |
Total other comprehensive income (loss) | (140) | (537) |
After-tax | ||
Other comprehensive income (loss) before reclassification, net of tax | (17) | (84) |
Net realized (gains) losses reclassified into earnings | 0 | 0 |
Total other comprehensive income, net of tax | $ (17) | $ (84) |
Accumulated Other Comprehens108
Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of debt securities | $ 51 | $ 437 | $ 490 | $ 886 |
Other loss | 628 | 601 | 1,691 | 1,312 |
Net interest income | 10,201 | 9,900 | 30,804 | 29,272 |
Personnel | (7,704) | (7,829) | (24,278) | (25,333) |
Income before income taxes | 7,304 | 6,247 | 19,098 | 17,308 |
Income tax expense (benefit) | 2,349 | 1,628 | 5,888 | 4,756 |
Net income | $ 4,955 | $ 4,619 | 13,210 | 12,552 |
Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income | (73) | (360) | ||
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Investment Gain (Loss) Attributable to Parent | Debt securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of debt securities | 490 | 886 | ||
Other loss | (14) | (77) | ||
Income before income taxes | 476 | 809 | ||
Income tax expense (benefit) | 181 | 307 | ||
Net income | 295 | 502 | ||
Reclassification out of Accumulated Other Comprehensive Income | Debit Valuation Adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other loss | (18) | (545) | ||
Income before income taxes | (18) | (545) | ||
Income tax expense (benefit) | (7) | (206) | ||
Net income | (11) | (339) | ||
Reclassification out of Accumulated Other Comprehensive Income | Derivatives | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (508) | (711) | ||
Income tax expense (benefit) | (190) | (267) | ||
Net income | (318) | (444) | ||
Reclassification out of Accumulated Other Comprehensive Income | Derivatives | Interest rate contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net interest income | (447) | (768) | ||
Reclassification out of Accumulated Other Comprehensive Income | Derivatives | Equity contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | (61) | 57 | ||
Reclassification out of Accumulated Other Comprehensive Income | Employee Benefit Plans | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Personnel | (64) | (128) | ||
Income before income taxes | (64) | (128) | ||
Income tax expense (benefit) | (25) | (49) | ||
Net income | $ (39) | $ (79) |
Earnings Per Common Share - Bas
Earnings Per Common Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings per common share | ||||
Net income | $ 4,955 | $ 4,619 | $ 13,210 | $ 12,552 |
Preferred stock dividends | (503) | (441) | (1,321) | (1,153) |
Net income applicable to common shareholders | $ 4,452 | $ 4,178 | $ 11,889 | $ 11,399 |
Average common shares issued and outstanding (in shares, in thousands) | 10,250,124 | 10,444,291 | 10,312,878 | 10,483,466 |
Earnings per common share (in dollars per share) | $ 0.43 | $ 0.40 | $ 1.15 | $ 1.09 |
Diluted earnings per common share | ||||
Add preferred stock dividends due to assumed conversions | $ 75 | $ 75 | $ 225 | $ 225 |
Net income allocated to common shareholders | $ 4,527 | $ 4,253 | $ 12,114 | $ 11,624 |
Average common shares issued and outstanding (in shares, in thousands) | 10,250,124 | 10,444,291 | 10,312,878 | 10,483,466 |
Dilutive potential common (shares, in thousands) | 750,349 | 752,912 | 733,929 | 750,659 |
Total diluted average common shares issued and outstanding (in shares, in thousands) | 11,000,473 | 11,197,203 | 11,046,807 | 11,234,125 |
Diluted earnings (loss) per common share (in dollars per share) | $ 0.41 | $ 0.38 | $ 1.10 | $ 1.03 |
Earnings Per Common Share - Ant
Earnings Per Common Share - Antidilutive Securities (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Series L Preferred Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Preferred stock dividend rate | 7.25% | |||
Warrant | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Average options to purchase shares of common stock (in shares) | 122 | 122 | 122 | 122 |
Warrant | Series T Preferred Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Average options to purchase shares of common stock (in shares) | 700 | |||
Convertible Preferred Stock Subject to Mandatory Redemption | Series L Preferred Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Average options to purchase shares of common stock (in shares) | 62 | 62 | 62 | 62 |
Stock Options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Average options to purchase shares of common stock (in shares) | 42 | 64 | 46 | 67 |
Earnings Per Common Share - Dil
Earnings Per Common Share - Dilutive Shares (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Class of Stock [Line Items] | ||||
Incremental common shares attributable to dilutive effect of call options and warrants (in shares) | 150 | 150 | 150 | 150 |
Series T Preferred Stock | ||||
Class of Stock [Line Items] | ||||
Incremental common shares attributable to dilutive effect of conversion of preferred stock (in shares) | 700 | 700 | 700 | 700 |
Fair Value Measurements - Recur
Fair Value Measurements - Recurring Fair Value (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financial assets | ||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | $ 51,638 | $ 55,143 | ||||
Trading account assets | 187,849 | 176,527 | ||||
Gross derivative assets | 788,400 | 688,600 | ||||
Derivative assets | 47,896 | 49,990 | ||||
Total AFS debt securities | 301,380 | 305,773 | ||||
Other debt securities carried at fair value | 21,125 | 16,607 | ||||
Loans and leases, measured at fair value | 8,108 | 6,938 | ||||
Mortgage servicing rights | 2,477 | $ 2,269 | 3,087 | $ 3,043 | $ 3,521 | $ 3,530 |
Loans held-for-sale, measured at fair value | 4,652 | 4,818 | ||||
Other assets | 13,891 | 14,320 | ||||
Liabilities | ||||||
Interest-bearing deposits in U.S. offices | 913 | 1,116 | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 31,868 | 24,574 | ||||
Gross derivative liabilities | 782,600 | 681,100 | ||||
Derivative liabilities | 43,484 | 38,450 | ||||
Short-term borrowings, measured at fair value | 1,055 | 1,325 | ||||
Long-term debt | 32,619 | 30,097 | ||||
Derivative Liabilities | ||||||
Assets and Liabilities, Recurring Basis, Supplemental Information: | ||||||
Liabilities transferred from Level 1 to Level 2 | 1,500 | 6,700 | ||||
Liabilities transferred from Level 2 to Level 1 | 1,500 | 6,200 | ||||
Derivative assets | ||||||
Assets and Liabilities, Recurring Basis, Supplemental Information: | ||||||
Assets transferred from Level 1 to Level 2 | 1,400 | 6,600 | ||||
Assets transferred from Level 2 to Level 1 | 1,600 | 6,400 | ||||
Other assets | ||||||
Assets and Liabilities, Recurring Basis, Supplemental Information: | ||||||
Assets transferred from Level 2 to Level 1 | 327 | |||||
U.S. Treasury and agency securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 45,284 | 25,277 | ||||
Agency | ||||||
Financial assets | ||||||
Total AFS debt securities | 201,051 | 228,947 | ||||
Agency-collateralized mortgage obligations | ||||||
Financial assets | ||||||
Total AFS debt securities | 9,081 | 10,985 | ||||
Non-agency residential | ||||||
Financial assets | ||||||
Total AFS debt securities | 1,618 | 3,179 | ||||
Commercial | ||||||
Financial assets | ||||||
Total AFS debt securities | 12,936 | 7,165 | ||||
Other taxable securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 9,416 | 10,445 | ||||
Tax-exempt securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 15,984 | 14,008 | ||||
US Government-sponsored Enterprises Debt Securities | ||||||
Financial assets | ||||||
Trading account assets | 18,400 | 14,800 | ||||
Recurring | ||||||
Financial assets | ||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 51,638 | 55,143 | ||||
Trading account assets | 187,849 | 176,527 | ||||
Netting adjustments | (740,440) | (638,648) | ||||
Derivative assets | 47,896 | 49,990 | ||||
Total AFS debt securities | 301,380 | 305,773 | ||||
Other debt securities carried at fair value | 21,125 | 16,607 | ||||
Loans and leases, measured at fair value | 8,108 | 6,938 | ||||
Mortgage servicing rights | 2,477 | 3,087 | ||||
Loans held-for-sale, measured at fair value | 4,652 | 4,818 | ||||
Other assets | 13,891 | 14,320 | ||||
Total assets | 639,016 | 633,203 | ||||
Liabilities | ||||||
Interest-bearing deposits in U.S. offices | 913 | 1,116 | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 31,868 | 24,574 | ||||
Total trading account liabilities | 76,998 | 66,963 | ||||
Netting adjustment | (739,087) | (642,666) | ||||
Derivative liabilities | 43,484 | 38,450 | ||||
Short-term borrowings, measured at fair value | 1,055 | 1,325 | ||||
Accrued expenses and other liabilities | 15,813 | 13,899 | ||||
Long-term debt | 32,619 | 30,097 | ||||
Total liabilities | 202,750 | 176,424 | ||||
Recurring | Consolidated VIEs | ||||||
Financial assets | ||||||
Loans and leases, measured at fair value | 655 | |||||
Recurring | Securities Segregated for Compliance or Deposited with Clearing Organizations | ||||||
Financial assets | ||||||
Trading account assets | 11,200 | 16,400 | ||||
Recurring | U.S. government and agency securities | ||||||
Financial assets | ||||||
Trading account assets | 57,354 | 48,535 | ||||
Liabilities | ||||||
Total trading account liabilities | 9,788 | 14,972 | ||||
Recurring | Corporate securities, trading loans and other | ||||||
Financial assets | ||||||
Trading account assets | 30,432 | 25,901 | ||||
Liabilities | ||||||
Total trading account liabilities | 6,308 | 6,161 | ||||
Recurring | Equity securities | ||||||
Financial assets | ||||||
Trading account assets | 60,865 | 63,029 | ||||
Liabilities | ||||||
Total trading account liabilities | 45,537 | 30,290 | ||||
Recurring | Non-U.S. sovereign debt | ||||||
Financial assets | ||||||
Trading account assets | 29,526 | 29,087 | ||||
Liabilities | ||||||
Total trading account liabilities | 15,365 | 15,540 | ||||
Recurring | Mortgage trading loans and ABS | ||||||
Financial assets | ||||||
Trading account assets | 9,672 | 9,975 | ||||
Recurring | U.S. Treasury and agency securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 45,284 | 25,277 | ||||
Recurring | Agency | ||||||
Financial assets | ||||||
Total AFS debt securities | 201,051 | 228,947 | ||||
Recurring | Agency-collateralized mortgage obligations | ||||||
Financial assets | ||||||
Total AFS debt securities | 9,081 | 10,985 | ||||
Other debt securities carried at fair value | 6 | 7 | ||||
Recurring | Non-agency residential | ||||||
Financial assets | ||||||
Total AFS debt securities | 1,618 | 3,179 | ||||
Other debt securities carried at fair value | 3,193 | 3,490 | ||||
Recurring | Commercial | ||||||
Financial assets | ||||||
Total AFS debt securities | 12,936 | 7,165 | ||||
Recurring | Non-U.S. securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 6,010 | 5,767 | ||||
Other debt securities carried at fair value | 17,680 | 12,843 | ||||
Recurring | Other taxable securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 9,416 | 10,445 | ||||
Other debt securities carried at fair value | 246 | 267 | ||||
Recurring | Tax-exempt securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 15,984 | 14,008 | ||||
Recurring | Level 1 | ||||||
Financial assets | ||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 0 | 0 | ||||
Trading account assets | 91,690 | 90,745 | ||||
Gross derivative assets | 7,515 | 5,149 | ||||
Total AFS debt securities | 46,487 | 26,142 | ||||
Other debt securities carried at fair value | 16,212 | 11,691 | ||||
Loans and leases, measured at fair value | 0 | 0 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Loans held-for-sale, measured at fair value | 0 | 0 | ||||
Other assets | 11,488 | 11,923 | ||||
Total assets | 173,392 | 145,650 | ||||
Liabilities | ||||||
Interest-bearing deposits in U.S. offices | 0 | 0 | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 0 | 0 | ||||
Total trading account liabilities | 64,954 | 56,483 | ||||
Gross derivative liabilities | 7,555 | 4,941 | ||||
Short-term borrowings, measured at fair value | 0 | 0 | ||||
Accrued expenses and other liabilities | 13,752 | 11,656 | ||||
Long-term debt | 0 | 0 | ||||
Total liabilities | 86,261 | 73,080 | ||||
Recurring | Level 1 | U.S. government and agency securities | ||||||
Financial assets | ||||||
Trading account assets | 38,950 | 33,034 | ||||
Liabilities | ||||||
Total trading account liabilities | 9,515 | 14,803 | ||||
Recurring | Level 1 | Corporate securities, trading loans and other | ||||||
Financial assets | ||||||
Trading account assets | 168 | 325 | ||||
Liabilities | ||||||
Total trading account liabilities | 115 | 193 | ||||
Recurring | Level 1 | Equity securities | ||||||
Financial assets | ||||||
Trading account assets | 37,641 | 41,735 | ||||
Liabilities | ||||||
Total trading account liabilities | 42,193 | 27,898 | ||||
Recurring | Level 1 | Non-U.S. sovereign debt | ||||||
Financial assets | ||||||
Trading account assets | 14,931 | 15,651 | ||||
Liabilities | ||||||
Total trading account liabilities | 13,131 | 13,589 | ||||
Recurring | Level 1 | Mortgage trading loans and ABS | ||||||
Financial assets | ||||||
Trading account assets | 0 | 0 | ||||
Recurring | Level 1 | U.S. Treasury and agency securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 43,798 | 23,374 | ||||
Recurring | Level 1 | Agency | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 1 | Agency-collateralized mortgage obligations | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Recurring | Level 1 | Non-agency residential | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Recurring | Level 1 | Commercial | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 1 | Non-U.S. securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 2,689 | 2,768 | ||||
Other debt securities carried at fair value | 16,212 | 11,691 | ||||
Recurring | Level 1 | Other taxable securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Recurring | Level 1 | Tax-exempt securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 2 | ||||||
Financial assets | ||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 51,638 | 55,143 | ||||
Trading account assets | 91,426 | 80,148 | ||||
Gross derivative assets | 775,954 | 678,355 | ||||
Total AFS debt securities | 253,408 | 278,199 | ||||
Other debt securities carried at fair value | 4,887 | 4,886 | ||||
Loans and leases, measured at fair value | 6,753 | 5,318 | ||||
Mortgage servicing rights | 0 | 0 | ||||
Loans held-for-sale, measured at fair value | 4,065 | 4,031 | ||||
Other assets | 2,040 | 2,023 | ||||
Total assets | 1,190,171 | 1,108,103 | ||||
Liabilities | ||||||
Interest-bearing deposits in U.S. offices | 913 | 1,116 | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 31,530 | 24,239 | ||||
Total trading account liabilities | 12,018 | 10,459 | ||||
Gross derivative liabilities | 769,162 | 670,600 | ||||
Short-term borrowings, measured at fair value | 1,055 | 1,295 | ||||
Accrued expenses and other liabilities | 2,052 | 2,234 | ||||
Long-term debt | 30,685 | 28,584 | ||||
Total liabilities | 847,415 | 738,527 | ||||
Recurring | Level 2 | U.S. government and agency securities | ||||||
Financial assets | ||||||
Trading account assets | 18,404 | 15,501 | ||||
Liabilities | ||||||
Total trading account liabilities | 273 | 169 | ||||
Recurring | Level 2 | Corporate securities, trading loans and other | ||||||
Financial assets | ||||||
Trading account assets | 27,702 | 22,738 | ||||
Liabilities | ||||||
Total trading account liabilities | 6,167 | 5,947 | ||||
Recurring | Level 2 | Equity securities | ||||||
Financial assets | ||||||
Trading account assets | 22,858 | 20,887 | ||||
Liabilities | ||||||
Total trading account liabilities | 3,344 | 2,392 | ||||
Recurring | Level 2 | Non-U.S. sovereign debt | ||||||
Financial assets | ||||||
Trading account assets | 13,956 | 12,915 | ||||
Liabilities | ||||||
Total trading account liabilities | 2,234 | 1,951 | ||||
Recurring | Level 2 | Mortgage trading loans and ABS | ||||||
Financial assets | ||||||
Trading account assets | 8,506 | 8,107 | ||||
Recurring | Level 2 | U.S. Treasury and agency securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 1,486 | 1,903 | ||||
Recurring | Level 2 | Agency | ||||||
Financial assets | ||||||
Total AFS debt securities | 201,051 | 228,947 | ||||
Recurring | Level 2 | Agency-collateralized mortgage obligations | ||||||
Financial assets | ||||||
Total AFS debt securities | 9,081 | 10,985 | ||||
Other debt securities carried at fair value | 6 | 7 | ||||
Recurring | Level 2 | Non-agency residential | ||||||
Financial assets | ||||||
Total AFS debt securities | 1,391 | 3,073 | ||||
Other debt securities carried at fair value | 3,167 | 3,460 | ||||
Recurring | Level 2 | Commercial | ||||||
Financial assets | ||||||
Total AFS debt securities | 12,936 | 7,165 | ||||
Recurring | Level 2 | Non-U.S. securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 3,321 | 2,999 | ||||
Other debt securities carried at fair value | 1,468 | 1,152 | ||||
Recurring | Level 2 | Other taxable securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 8,729 | 9,688 | ||||
Other debt securities carried at fair value | 246 | 267 | ||||
Recurring | Level 2 | Tax-exempt securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 15,413 | 13,439 | ||||
Recurring | Level 3 | ||||||
Financial assets | ||||||
Federal funds sold and securities borrowed or purchased under agreements to resell | 0 | 0 | ||||
Trading account assets | 4,733 | 5,634 | ||||
Gross derivative assets | 4,867 | 5,134 | 6,000 | |||
Total AFS debt securities | 1,485 | 1,432 | ||||
Other debt securities carried at fair value | 26 | 30 | ||||
Loans and leases, measured at fair value | 1,355 | 1,620 | ||||
Mortgage servicing rights | 2,477 | 3,087 | ||||
Loans held-for-sale, measured at fair value | 587 | 787 | ||||
Other assets | 363 | 374 | ||||
Total assets | 15,893 | 18,098 | ||||
Liabilities | ||||||
Interest-bearing deposits in U.S. offices | 0 | 0 | ||||
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value | 338 | 335 | ||||
Total trading account liabilities | 26 | 21 | ||||
Gross derivative liabilities | 5,854 | 5,575 | $ 5,600 | |||
Short-term borrowings, measured at fair value | 0 | 30 | ||||
Accrued expenses and other liabilities | 9 | 9 | ||||
Long-term debt | 1,934 | 1,513 | ||||
Total liabilities | 8,161 | 7,483 | ||||
Recurring | Level 3 | U.S. government and agency securities | ||||||
Financial assets | ||||||
Trading account assets | 0 | 0 | ||||
Liabilities | ||||||
Total trading account liabilities | 0 | 0 | ||||
Recurring | Level 3 | Corporate securities, trading loans and other | ||||||
Financial assets | ||||||
Trading account assets | 2,562 | 2,838 | ||||
Total assets | 2,600 | 2,800 | ||||
Liabilities | ||||||
Total trading account liabilities | 26 | 21 | ||||
Recurring | Level 3 | Equity securities | ||||||
Financial assets | ||||||
Trading account assets | 366 | 407 | ||||
Liabilities | ||||||
Total trading account liabilities | 0 | 0 | ||||
Recurring | Level 3 | Non-U.S. sovereign debt | ||||||
Financial assets | ||||||
Trading account assets | 639 | 521 | ||||
Total assets | 639 | 521 | ||||
Liabilities | ||||||
Total trading account liabilities | 0 | 0 | ||||
Recurring | Level 3 | Mortgage trading loans and ABS | ||||||
Financial assets | ||||||
Trading account assets | 1,166 | 1,868 | ||||
Total assets | 1,200 | 1,900 | ||||
Recurring | Level 3 | U.S. Treasury and agency securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 3 | Agency | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 3 | Agency-collateralized mortgage obligations | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Recurring | Level 3 | Non-agency residential | ||||||
Financial assets | ||||||
Total AFS debt securities | 227 | 106 | ||||
Other debt securities carried at fair value | 26 | 30 | ||||
Recurring | Level 3 | Commercial | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Recurring | Level 3 | Non-U.S. securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 0 | 0 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Recurring | Level 3 | Other taxable securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 687 | 757 | ||||
Other debt securities carried at fair value | 0 | 0 | ||||
Total assets | 687 | 757 | ||||
Recurring | Level 3 | Tax-exempt securities | ||||||
Financial assets | ||||||
Total AFS debt securities | 571 | 569 | ||||
Total assets | $ 571 | $ 569 |
Fair Value Measurements - Recon
Fair Value Measurements - Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||||
Balance, beginning | $ (648) | $ (351) | $ (441) | $ (920) | |
Gains (Losses) in Earnings | (131) | 1,042 | 356 | 1,608 | |
Gains (Losses) in OCI | 0 | (5) | 0 | (5) | |
Purchases | 114 | 80 | 313 | 193 | |
Sales | (346) | (290) | (965) | (683) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 118 | (115) | 7 | 106 | |
Gross Transfers into Level 3 | (53) | (20) | (177) | (80) | |
Gross Transfers out of Level 3 | (41) | 56 | (80) | 178 | |
Balance, ending | (987) | 397 | (987) | 397 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Gross Derivative Assets | 788,400 | 788,400 | $ 688,600 | ||
Gross Derivative Liabilities | 782,600 | 782,600 | 681,100 | ||
Federal funds purchased and securities loaned or sold under agreements to repurchase | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | (313) | (368) | (335) | 0 | |
Gains (Losses) in Earnings | (17) | 0 | 12 | (14) | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | (5) | (14) | (33) | |
Settlements | 10 | 208 | 17 | 208 | |
Gross Transfers into Level 3 | (19) | (32) | (19) | (358) | |
Gross Transfers out of Level 3 | 1 | 1 | 1 | 1 | |
Balance, ending | (338) | (196) | (338) | (196) | |
Corporate securities, trading loans and other | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | (26) | (57) | (21) | (36) | |
Gains (Losses) in Earnings | 2 | 0 | 4 | 3 | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 1 | 33 | |
Sales | (2) | 19 | (10) | (38) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, ending | (26) | (38) | (26) | (38) | |
Short-term borrowings | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 0 | (30) | 0 | ||
Gains (Losses) in Earnings | 4 | 1 | 9 | ||
Gains (Losses) in OCI | 0 | 0 | 0 | ||
Purchases | 0 | 0 | 0 | ||
Sales | 0 | 0 | 0 | ||
Issuances | (3) | 0 | (24) | ||
Settlements | 0 | 29 | 1 | ||
Gross Transfers into Level 3 | (19) | 0 | (23) | ||
Gross Transfers out of Level 3 | 0 | 0 | 19 | ||
Balance, ending | 0 | (18) | 0 | (18) | |
Accrued expenses and other liabilities | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | (9) | (9) | (9) | (10) | |
Gains (Losses) in Earnings | 0 | 0 | 0 | 1 | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, ending | (9) | (9) | (9) | (9) | |
Long-term debt | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | (2,156) | (2,716) | (1,513) | (2,362) | |
Gains (Losses) in Earnings | (22) | 252 | (192) | 322 | |
Gains (Losses) in OCI | (23) | 0 | (41) | 0 | |
Purchases | 15 | 139 | 44 | 316 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | (3) | (40) | (326) | (179) | |
Settlements | 363 | 59 | 496 | 219 | |
Gross Transfers into Level 3 | (206) | (264) | (751) | (1,380) | |
Gross Transfers out of Level 3 | 98 | 660 | 349 | 1,154 | |
Balance, ending | (1,934) | (1,910) | (1,934) | (1,910) | |
Level 3 | Recurring | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | |||||
Balance, beginning | (441) | ||||
Balance, ending | (987) | (987) | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Gross Derivative Assets | 4,867 | 6,000 | 4,867 | 6,000 | 5,134 |
Gross Derivative Liabilities | 5,854 | 5,600 | 5,854 | 5,600 | $ 5,575 |
Corporate securities, trading loans and other | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 2,654 | 3,326 | 2,838 | 3,270 | |
Gains (Losses) in Earnings | 57 | (6) | 118 | 28 | |
Gains (Losses) in OCI | 0 | (11) | 2 | (11) | |
Purchases | 226 | 553 | 925 | 1,030 | |
Sales | (245) | (681) | (638) | (1,119) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (134) | (295) | (479) | (944) | |
Gross Transfers into Level 3 | 202 | 238 | 432 | 1,221 | |
Gross Transfers out of Level 3 | (198) | (225) | (636) | (576) | |
Balance, ending | 2,562 | 2,899 | 2,562 | 2,899 | |
Equity securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 455 | 386 | 407 | 352 | |
Gains (Losses) in Earnings | 11 | (1) | 93 | 13 | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 10 | 32 | 53 | 48 | |
Sales | (98) | 0 | (135) | (3) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | (6) | (72) | (11) | |
Gross Transfers into Level 3 | 27 | 2 | 60 | 33 | |
Gross Transfers out of Level 3 | (39) | (3) | (40) | (22) | |
Balance, ending | 366 | 410 | 366 | 410 | |
Non-U.S. sovereign debt | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 630 | 468 | 521 | 574 | |
Gains (Losses) in Earnings | 20 | 12 | 112 | 94 | |
Gains (Losses) in OCI | (7) | (102) | 91 | (180) | |
Purchases | 0 | 7 | 3 | 34 | |
Sales | 0 | (1) | (1) | (1) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (4) | 0 | (87) | (110) | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | (27) | |
Balance, ending | 639 | 384 | 639 | 384 | |
Mortgage trading loans and ABS | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 1,286 | 2,159 | 1,868 | 2,063 | |
Gains (Losses) in Earnings | 102 | (7) | 197 | 154 | |
Gains (Losses) in OCI | 0 | 0 | (2) | 0 | |
Purchases | 331 | 293 | 681 | 1,102 | |
Sales | (441) | (264) | (1,264) | (891) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (103) | (157) | (270) | (401) | |
Gross Transfers into Level 3 | 15 | 2 | 91 | 12 | |
Gross Transfers out of Level 3 | (24) | (21) | (135) | (34) | |
Balance, ending | 1,166 | 2,005 | 1,166 | 2,005 | |
Trading Securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 5,025 | 6,339 | 5,634 | 6,259 | |
Gains (Losses) in Earnings | 190 | (2) | 520 | 289 | |
Gains (Losses) in OCI | (7) | (113) | 91 | (191) | |
Purchases | 567 | 885 | 1,662 | 2,214 | |
Sales | (784) | (946) | (2,038) | (2,014) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (241) | (458) | (908) | (1,466) | |
Gross Transfers into Level 3 | 244 | 242 | 583 | 1,266 | |
Gross Transfers out of Level 3 | (261) | (249) | (811) | (659) | |
Balance, ending | 4,733 | 5,698 | 4,733 | 5,698 | |
Non-agency residential MBS | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 134 | 234 | 106 | 279 | |
Gains (Losses) in Earnings | 0 | 0 | 0 | (12) | |
Gains (Losses) in OCI | 0 | (2) | 3 | 5 | |
Purchases | 189 | 41 | 385 | 103 | |
Sales | 0 | 0 | (92) | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (102) | (47) | (181) | (281) | |
Gross Transfers into Level 3 | 6 | 0 | 6 | 132 | |
Gross Transfers out of Level 3 | 0 | (37) | 0 | (37) | |
Balance, ending | 227 | 189 | 227 | 189 | |
Non-U.S. securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 9 | 10 | |||
Gains (Losses) in Earnings | 0 | 0 | |||
Gains (Losses) in OCI | 0 | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 0 | 0 | |||
Settlements | (6) | (7) | |||
Gross Transfers into Level 3 | 0 | 0 | |||
Gross Transfers out of Level 3 | 0 | 0 | |||
Balance, ending | 3 | 3 | |||
Other taxable securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 717 | 677 | 757 | 1,667 | |
Gains (Losses) in Earnings | 1 | 0 | 3 | 0 | |
Gains (Losses) in OCI | (1) | (2) | (7) | (2) | |
Purchases | 0 | 0 | 0 | 6 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (30) | (88) | (66) | (151) | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | (6) | 0 | (939) | |
Balance, ending | 687 | 581 | 687 | 581 | |
Tax-exempt securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 559 | 584 | 569 | 599 | |
Gains (Losses) in Earnings | 0 | 0 | 0 | 0 | |
Gains (Losses) in OCI | 2 | 0 | (8) | (1) | |
Purchases | 0 | 0 | 1 | 0 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | (15) | (1) | (29) | |
Gross Transfers into Level 3 | 10 | 0 | 10 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, ending | 571 | 569 | 571 | 569 | |
Available-for-sale Securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 1,410 | 1,504 | 1,432 | 2,555 | |
Gains (Losses) in Earnings | 1 | 0 | 3 | (12) | |
Gains (Losses) in OCI | 1 | (4) | (12) | 2 | |
Purchases | 189 | 41 | 386 | 109 | |
Sales | 0 | 0 | (92) | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | (132) | (156) | (248) | (468) | |
Gross Transfers into Level 3 | 16 | 0 | 16 | 132 | |
Gross Transfers out of Level 3 | 0 | (43) | 0 | (976) | |
Balance, ending | 1,485 | 1,342 | 1,485 | 1,342 | |
Other debt securities carried at fair value – Non-agency residential MBS | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 28 | 34 | 30 | 0 | |
Gains (Losses) in Earnings | (2) | (3) | (4) | (2) | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 33 | |
Sales | 0 | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, ending | 26 | 31 | 26 | 31 | |
Loans and leases | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 1,459 | 1,970 | 1,620 | 1,983 | |
Gains (Losses) in Earnings | (9) | 17 | (13) | 22 | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 69 | 0 | |
Sales | 0 | (1) | 0 | (3) | |
Issuances | 0 | 57 | 50 | 57 | |
Settlements | (54) | (59) | (143) | (179) | |
Gross Transfers into Level 3 | 0 | 7 | 6 | 125 | |
Gross Transfers out of Level 3 | (41) | (7) | (234) | (21) | |
Balance, ending | 1,355 | 1,984 | 1,355 | 1,984 | |
Mortgage servicing rights | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 2,269 | 3,521 | 3,087 | 3,530 | |
Gains (Losses) in Earnings | 313 | (363) | (295) | 10 | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | 0 | |
Sales | 0 | (87) | 0 | (399) | |
Issuances | 101 | 185 | 307 | 568 | |
Settlements | (206) | (213) | (622) | (666) | |
Gross Transfers into Level 3 | 0 | 0 | 0 | 0 | |
Gross Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Balance, ending | 2,477 | 3,043 | 2,477 | 3,043 | |
Loans held-for-sale | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 690 | 660 | 787 | 173 | |
Gains (Losses) in Earnings | 13 | 0 | 97 | (48) | |
Gains (Losses) in OCI | (4) | 0 | 51 | 0 | |
Purchases | 0 | 2 | 20 | 493 | |
Sales | (56) | (79) | (236) | (174) | |
Issuances | 0 | 3 | 0 | 36 | |
Settlements | (25) | (6) | (77) | (12) | |
Gross Transfers into Level 3 | 4 | 7 | 43 | 184 | |
Gross Transfers out of Level 3 | (35) | (28) | (98) | (93) | |
Balance, ending | 587 | 559 | 587 | 559 | |
Other assets | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Balance, beginning | 348 | 756 | 374 | 911 | |
Gains (Losses) in Earnings | 11 | (42) | (27) | (46) | |
Gains (Losses) in OCI | 0 | 0 | 0 | 0 | |
Purchases | 4 | 3 | 38 | 12 | |
Sales | 0 | (11) | 0 | (129) | |
Issuances | 0 | 0 | 0 | 0 | |
Settlements | 0 | (17) | (24) | (32) | |
Gross Transfers into Level 3 | 0 | 0 | 2 | 8 | |
Gross Transfers out of Level 3 | 0 | (15) | 0 | (50) | |
Balance, ending | $ 363 | $ 674 | $ 363 | $ 674 |
Fair Value Measurements - Gains
Fair Value Measurements - Gains and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Total | $ 349 | $ 905 | $ 462 | $ 2,142 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Total | 149 | 601 | (521) | 1,172 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | (17) | 0 | 12 | (14) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | (17) | (21) | (3) | |
Corporate securities and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 2 | 4 | 3 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 1 | 1 | 3 | 1 |
Short-term borrowings | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 4 | 1 | 9 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 4 | 4 | ||
Accrued expenses and other liabilities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | 1 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 1 | |||
Long-term debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | (22) | 252 | (192) | 322 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | (24) | 250 | (208) | 309 |
Corporate securities, trading loans and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 57 | (6) | 118 | 28 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 20 | (34) | 11 | (102) |
Equity securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 11 | (1) | 93 | 13 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 5 | (1) | (19) | 7 |
Non-U.S. sovereign debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 20 | 12 | 112 | 94 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 19 | 12 | 110 | 81 |
Mortgage trading loans and ABS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 102 | (7) | 197 | 154 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 62 | (34) | 110 | (28) |
Trading Securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 190 | (2) | 520 | 289 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 106 | (57) | 212 | (42) |
Derivative assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (131) | 1,042 | 356 | 1,608 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | (198) | 814 | (108) | 1,140 |
Non-agency residential MBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | (12) |
Other taxable securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 1 | 0 | 3 | 0 |
Other debt securities carried at fair value – Non-agency RMBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (2) | (3) | (4) | (2) |
Loans and leases | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (9) | 17 | (13) | 22 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | (8) | 27 | (3) | 50 |
Mortgage servicing rights | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 313 | (363) | (295) | 10 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 262 | (400) | (457) | (211) |
Loans held-for-sale | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 13 | 0 | 97 | (48) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 10 | 76 | (31) | |
Other assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 11 | (42) | (27) | (46) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 17 | (38) | (15) | (46) |
Trading Account Profits (Losses) | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Total | (194) | 1,100 | 228 | 1,478 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Total | (237) | 947 | (175) | 1,306 |
Trading Account Profits (Losses) | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | (17) | 12 | (14) | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | (17) | (21) | (3) | |
Trading Account Profits (Losses) | Corporate securities and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 2 | 4 | 3 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 1 | 1 | 3 | 1 |
Trading Account Profits (Losses) | Short-term borrowings | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 4 | 1 | 9 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 4 | 4 | ||
Trading Account Profits (Losses) | Accrued expenses and other liabilities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | |||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | |||
Trading Account Profits (Losses) | Long-term debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | (22) | 251 | (193) | 350 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | (24) | 250 | (208) | 308 |
Trading Account Profits (Losses) | Corporate securities, trading loans and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 57 | (6) | 118 | 28 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 20 | (34) | 11 | (102) |
Trading Account Profits (Losses) | Equity securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 11 | (1) | 93 | 13 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 5 | (1) | (19) | 7 |
Trading Account Profits (Losses) | Non-U.S. sovereign debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 20 | 12 | 112 | 94 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 19 | 12 | 110 | 81 |
Trading Account Profits (Losses) | Mortgage trading loans and ABS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 102 | (7) | 197 | 154 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 62 | (34) | 110 | (28) |
Trading Account Profits (Losses) | Trading Securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 190 | (2) | 520 | 289 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 106 | (57) | 212 | (42) |
Trading Account Profits (Losses) | Derivative assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (325) | 837 | (142) | 902 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | (281) | 735 | (168) | 1,037 |
Trading Account Profits (Losses) | Non-agency residential MBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | |||
Trading Account Profits (Losses) | Other taxable securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | ||
Trading Account Profits (Losses) | Other debt securities carried at fair value – Non-agency RMBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Trading Account Profits (Losses) | Loans and leases | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 1 | 8 | (5) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 1 | 0 | 0 |
Trading Account Profits (Losses) | Mortgage servicing rights | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (22) | 13 | 7 | 2 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | (22) | 13 | 7 | 2 |
Trading Account Profits (Losses) | Loans held-for-sale | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | (4) | 11 | (58) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | (1) | |
Trading Account Profits (Losses) | Other assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Total | 516 | (224) | 170 | 614 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Total | 360 | (381) | (414) | (192) |
Mortgage Banking Income (Loss) | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | |
Mortgage Banking Income (Loss) | Corporate securities and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Short-term borrowings | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | ||
Mortgage Banking Income (Loss) | Accrued expenses and other liabilities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | |||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | |||
Mortgage Banking Income (Loss) | Long-term debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Corporate securities, trading loans and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Equity securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Non-U.S. sovereign debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Mortgage trading loans and ABS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Trading Securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Derivative assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 185 | 184 | 513 | 662 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 74 | 58 | 75 | 59 |
Mortgage Banking Income (Loss) | Non-agency residential MBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | |||
Mortgage Banking Income (Loss) | Other taxable securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | ||
Mortgage Banking Income (Loss) | Other debt securities carried at fair value – Non-agency RMBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Loans and leases | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Mortgage servicing rights | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 335 | (376) | (302) | 8 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 284 | (413) | (464) | (213) |
Mortgage Banking Income (Loss) | Loans held-for-sale | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | |
Mortgage Banking Income (Loss) | Other assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (4) | (32) | (41) | (56) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 2 | (26) | (25) | (38) |
Other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Total | 27 | 29 | 64 | 50 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Total | 26 | 35 | 68 | 58 |
Other | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | |
Other | Corporate securities and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | 0 |
Other | Short-term borrowings | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 0 | 0 | |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | ||
Other | Accrued expenses and other liabilities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 1 | |||
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 1 | |||
Other | Long-term debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to liabilities | 0 | 1 | 1 | (28) |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to liabilities still held at reporting date | 0 | 0 | 0 | 1 |
Other | Corporate securities, trading loans and other | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Equity securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Non-U.S. sovereign debt | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Mortgage trading loans and ABS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Trading Securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Derivative assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 9 | 21 | (15) | 44 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 9 | 21 | (15) | 44 |
Other | Non-agency residential MBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (12) | |||
Other | Other taxable securities | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 1 | 3 | ||
Other | Other debt securities carried at fair value – Non-agency RMBS | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (2) | (3) | (4) | (2) |
Other | Loans and leases | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | (9) | 16 | (21) | 27 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | (8) | 26 | (3) | 50 |
Other | Mortgage servicing rights | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 0 | 0 | 0 | 0 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 0 | 0 | 0 | 0 |
Other | Loans held-for-sale | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 13 | 4 | 86 | 10 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | 10 | 76 | (30) | |
Other | Other assets | ||||
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings | ||||
Change in realized gains (losses) included in earnings relating to assets | 15 | (10) | 14 | 10 |
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date | ||||
Change in unrealized gains (losses) relating to assets still held at reporting date | $ 15 | $ (12) | $ 10 | $ (8) |
Fair Value Measurements - Re115
Fair Value Measurements - Recurring Fair Value Inputs (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Long-term debt | $ (32,619,000,000) | $ (30,097,000,000) | ||||
Net derivative asset | (987,000,000) | (441,000,000) | $ (648,000,000) | $ 397,000,000 | $ (351,000,000) | $ (920,000,000) |
Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 639,016,000,000 | 633,203,000,000 | ||||
Long-term debt | (32,619,000,000) | (30,097,000,000) | ||||
Recurring | Level 3 | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 15,893,000,000 | 18,098,000,000 | ||||
Long-term debt | (1,934,000,000) | (1,513,000,000) | ||||
Net derivative asset | $ (987,000,000) | $ (441,000,000) | ||||
Recurring | Level 3 | Minimum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 9.00% | |||||
Duration | 0 years | |||||
Price (in dollars per share) | $ 0 | |||||
Equity correlation | 19.00% | 25.00% | ||||
Long-dated equity volatilities | 4.00% | 4.00% | ||||
Recurring | Level 3 | Maximum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 46.00% | |||||
Duration | 5 years | |||||
Price (in dollars per share) | $ 100 | |||||
Equity correlation | 100.00% | 100.00% | ||||
Long-dated equity volatilities | 101.00% | 101.00% | ||||
Recurring | Level 3 | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 18.00% | |||||
Duration | 2 years | |||||
Price (in dollars per share) | $ 79 | |||||
Equity correlation | 68.00% | |||||
Long-dated equity volatilities | 26.00% | |||||
Recurring | Level 3 | Loans held-for-sale | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 587,000,000 | $ 787,000,000 | ||||
Recurring | Level 3 | Loans and leases | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 1,400,000,000 | 1,600,000,000 | ||||
Recurring | Level 3 | Long-term debt | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Long-term debt | (1,934,000,000) | $ (1,513,000,000) | ||||
Recurring | Level 3 | Long-term debt | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Equity correlation | 67.00% | |||||
Long-dated equity volatilities | 28.00% | |||||
Recurring | Level 3 | Credit derivatives | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Net derivative asset | $ (45,000,000) | $ (75,000,000) | ||||
Recurring | Level 3 | Credit derivatives | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Loss severity | 35.00% | |||||
Recurring | Level 3 | Credit derivatives | Minimum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 1.00% | 6.00% | ||||
Prepayment speed | 7.00% | 10.00% | ||||
Default rate | 0.00% | 1.00% | ||||
Loss severity | 35.00% | |||||
Upfront points | 0.01% | 0.00% | ||||
Credit spreads | 0.18% | 0.00% | ||||
Credit correlation | 11.00% | 31.00% | ||||
Recurring | Level 3 | Credit derivatives | Maximum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 25.00% | 25.00% | ||||
Prepayment speed | 20.00% | 20.00% | ||||
Default rate | 4.00% | 4.00% | ||||
Loss severity | 40.00% | |||||
Upfront points | 1.00% | 1.00% | ||||
Credit spreads | 9.24% | 4.47% | ||||
Credit correlation | 93.00% | 99.00% | ||||
Recurring | Level 3 | Credit derivatives | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 16.00% | 16.00% | ||||
Prepayment speed | 18.00% | 19.00% | ||||
Default rate | 3.00% | 3.00% | ||||
Loss severity | 35.00% | |||||
Upfront points | 0.74% | 0.60% | ||||
Credit spreads | 2.87% | 1.11% | ||||
Credit correlation | 37.00% | 38.00% | ||||
Recurring | Level 3 | Equity derivatives | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Net derivative asset | $ (1,298,000,000) | $ (1,037,000,000) | ||||
Recurring | Level 3 | Equity derivatives | Minimum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Equity correlation | 19.00% | 25.00% | ||||
Long-dated equity volatilities | 4.00% | 4.00% | ||||
Recurring | Level 3 | Equity derivatives | Maximum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Equity correlation | 100.00% | 100.00% | ||||
Long-dated equity volatilities | 101.00% | 101.00% | ||||
Recurring | Level 3 | Equity derivatives | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Equity correlation | 68.00% | 67.00% | ||||
Long-dated equity volatilities | 26.00% | 28.00% | ||||
Recurring | Level 3 | Commodity contracts | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Net derivative asset | $ 7,000,000 | $ 169,000,000 | ||||
Recurring | Level 3 | Commodity contracts | Minimum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated equity volatilities | 23.00% | 18.00% | ||||
Natural gas forward price (in dollars per MMBtu) | $ 2 | $ 1 | ||||
Propane forward price (in dollars per share) | $ 0 | |||||
Correlation | 66.00% | 66.00% | ||||
Recurring | Level 3 | Commodity contracts | Maximum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated equity volatilities | 71.00% | 125.00% | ||||
Natural gas forward price (in dollars per MMBtu) | $ 7 | $ 6 | ||||
Propane forward price (in dollars per share) | $ 1 | |||||
Correlation | 93.00% | 93.00% | ||||
Recurring | Level 3 | Commodity contracts | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated equity volatilities | 36.00% | 39.00% | ||||
Natural gas forward price (in dollars per MMBtu) | $ 4 | $ 4 | ||||
Propane forward price (in dollars per share) | $ 1 | |||||
Correlation | 86.00% | 84.00% | ||||
Recurring | Level 3 | Interest rate derivatives | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Net derivative asset | $ 349,000,000 | $ 502,000,000 | ||||
Recurring | Level 3 | Interest rate derivatives | Minimum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated volatilities (IR) | 0.00% | 0.00% | ||||
Correlation (IR/IR) | 15.00% | 17.00% | ||||
Correlation (FX/IR) | (2.00%) | (15.00%) | ||||
Long-dated inflation rates | (12.00%) | 0.00% | ||||
Recurring | Level 3 | Interest rate derivatives | Maximum | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated volatilities (IR) | 2.00% | 2.00% | ||||
Correlation (IR/IR) | 99.00% | 99.00% | ||||
Correlation (FX/IR) | 40.00% | 40.00% | ||||
Long-dated inflation rates | 38.00% | 7.00% | ||||
Recurring | Level 3 | Interest rate derivatives | Weighted Average | Income Approach Valuation Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Long-dated volatilities (IR) | 1.00% | 1.00% | ||||
Correlation (IR/IR) | 60.00% | 48.00% | ||||
Correlation (FX/IR) | 3.00% | (9.00%) | ||||
Long-dated inflation rates | 5.00% | 3.00% | ||||
Recurring | Level 3 | Mortgage trading loans and ABS | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 1,200,000,000 | $ 1,900,000,000 | ||||
Recurring | Level 3 | Corporate securities, trading loans and other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 2,600,000,000 | 2,800,000,000 | ||||
Recurring | Level 3 | Non-U.S. sovereign debt | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 639,000,000 | 521,000,000 | ||||
Recurring | Level 3 | Other taxable securities, substantially all asset-backed securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 687,000,000 | 757,000,000 | ||||
Recurring | Level 3 | Tax-exempt securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 571,000,000 | 569,000,000 | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 1,688,000,000 | $ 2,017,000,000 | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Minimum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 0.00% | 0.00% | ||||
Prepayment speed | 0.00% | 0.00% | ||||
Default rate | 0.00% | 0.00% | ||||
Loss severity | 0.00% | 0.00% | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Maximum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 25.00% | 25.00% | ||||
Prepayment speed | 37.00% | 27.00% | ||||
Default rate | 10.00% | 10.00% | ||||
Loss severity | 100.00% | 90.00% | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Weighted Average | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 6.00% | 6.00% | ||||
Prepayment speed | 14.00% | 11.00% | ||||
Default rate | 3.00% | 4.00% | ||||
Loss severity | 45.00% | 40.00% | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Loans held-for-sale | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 11,000,000 | $ 97,000,000 | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Loans and leases | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 1,353,000,000 | 1,520,000,000 | ||||
Recurring | Level 3 | Loans and leases backed by residential real estate assets | Mortgage trading loans and ABS | Trading Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 324,000,000 | 400,000,000 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 295,000,000 | $ 852,000,000 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Minimum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 0.00% | 0.00% | ||||
Price (in dollars per share) | $ 0 | $ 0 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Maximum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 25.00% | 25.00% | ||||
Price (in dollars per share) | $ 100 | $ 100 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Weighted Average | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 12.00% | 8.00% | ||||
Price (in dollars per share) | $ 69 | $ 73 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Loans held-for-sale | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 14,000,000 | $ 690,000,000 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Mortgage trading loans and ABS | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 62,000,000 | 162,000,000 | ||||
Recurring | Level 3 | Instruments Backed by Commercial Real Estate Assets | Corporate securities, trading loans and other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 219,000,000 | |||||
Recurring | Level 3 | Commercial loans, debt securities and other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 4,397,000,000 | $ 4,558,000,000 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Minimum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 0.00% | 0.00% | ||||
Prepayment speed | 5.00% | 5.00% | ||||
Default rate | 3.00% | 2.00% | ||||
Loss severity | 35.00% | 25.00% | ||||
Duration | 0 years | 0 years | ||||
Price (in dollars per share) | $ 0 | $ 0 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Maximum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 46.00% | 37.00% | ||||
Prepayment speed | 20.00% | 20.00% | ||||
Default rate | 4.00% | 5.00% | ||||
Loss severity | 50.00% | 50.00% | ||||
Duration | 5 years | 5 years | ||||
Price (in dollars per share) | $ 205 | $ 258 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Weighted Average | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Yield | 18.00% | 13.00% | ||||
Prepayment speed | 14.00% | 16.00% | ||||
Default rate | 4.00% | 4.00% | ||||
Loss severity | 38.00% | 37.00% | ||||
Duration | 3 years | 3 years | ||||
Price (in dollars per share) | $ 70 | $ 64 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Loans held-for-sale | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 562,000,000 | |||||
Recurring | Level 3 | Commercial loans, debt securities and other | Loans and leases | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 2,000,000 | $ 100,000,000 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Mortgage trading loans and ABS | Trading Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 780,000,000 | 1,306,000,000 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Corporate securities, trading loans and other | Trading Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 2,304,000,000 | 2,503,000,000 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Non-U.S. sovereign debt | Trading Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 639,000,000 | 521,000,000 | ||||
Recurring | Level 3 | Commercial loans, debt securities and other | Other taxable securities, substantially all asset-backed securities | Available-for-sale Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 110,000,000 | 128,000,000 | ||||
Recurring | Level 3 | Auction rate securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 1,187,000,000 | $ 1,533,000,000 | ||||
Recurring | Level 3 | Auction rate securities | Minimum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Price (in dollars per share) | $ 10 | $ 10 | ||||
Recurring | Level 3 | Auction rate securities | Maximum | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Price (in dollars per share) | 100 | 100 | ||||
Recurring | Level 3 | Auction rate securities | Weighted Average | Income and Market Approach Technique | ||||||
Fair Value Inputs [Abstract] | ||||||
Price (in dollars per share) | $ 93 | $ 94 | ||||
Recurring | Level 3 | Auction rate securities | Corporate securities, trading loans and other | Trading Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 39,000,000 | $ 335,000,000 | ||||
Recurring | Level 3 | Auction rate securities | Other taxable securities, substantially all asset-backed securities | Available-for-sale Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | 577,000,000 | 629,000,000 | ||||
Recurring | Level 3 | Auction rate securities | Tax-exempt securities | Available-for-sale Securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Assets, fair value | $ 571,000,000 | $ 569,000,000 |
Fair Value Measurements - Nonre
Fair Value Measurements - Nonrecurring Fair Value (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||
Loans held-for-sale, measured at fair value | $ 4,652 | $ 4,652 | $ 4,818 | ||
Loans and leases, measured at fair value | 8,108 | 8,108 | 6,938 | ||
Other assets, measured at fair value | 13,891 | 13,891 | $ 14,320 | ||
Nonrecurring | |||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||
Gains (Losses) on loans held-for-sale | (1) | $ 0 | (44) | $ (7) | |
Gains (Losses) on loans and leases | (143) | (228) | (399) | (811) | |
Gains (Losses) on foreclosed properties | (23) | (36) | (41) | (58) | |
Gains (Losses) on other assets | (18) | (4) | (44) | (8) | |
Nonrecurring | Government Guaranteed Mortgage Loans upon Foreclosure Receivable | |||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||
Foreclosed properties, measured at fair value | 1,300 | 1,300 | 1,300 | 1,300 | |
Nonrecurring | Level 2 | |||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||
Loans held-for-sale, measured at fair value | 191 | 10 | 191 | 10 | |
Loans and leases, measured at fair value | 0 | 67 | 0 | 67 | |
Foreclosed properties, measured at fair value | 0 | 0 | 0 | 0 | |
Other assets, measured at fair value | 173 | 39 | 173 | 39 | |
Loan loss write-offs | 48 | 72 | $ 112 | 146 | |
Period of gain/(loss) after transfer of loan to a foreclosed properties | 90 days | ||||
Nonrecurring | Level 3 | |||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||
Loans held-for-sale, measured at fair value | 48 | 34 | $ 48 | 34 | |
Loans and leases, measured at fair value | 1,333 | 2,363 | 1,333 | 2,363 | |
Foreclosed properties, measured at fair value | 113 | 149 | 113 | 149 | |
Other assets, measured at fair value | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - No117
Fair Value Measurements - Nonrecurring Fair Value Inputs (Details) - Nonrecurring - Level 3 - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Market Comparables | Minimum | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 8.00% | 7.00% |
Cost to sell | 8.00% | 8.00% |
Market Comparables | Maximum | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 56.00% | 55.00% |
Cost to sell | 45.00% | 45.00% |
Loans and leases backed by residential real estate assets | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, fair value | $ 1,333 | $ 2,739 |
Loans and leases backed by residential real estate assets | Market Comparables | Weighted Average | ||
Fair Value Inputs [Abstract] | ||
Discount rate | 21.00% | 20.00% |
Cost to sell | 10.00% | 10.00% |
Fair Value Option - Elections (
Fair Value Option - Elections (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Federal funds sold and securities borrowed or purchased under agreements to resell | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | $ 51,638 | $ 55,143 |
Contractual Principal Outstanding Assets | 51,516 | 54,999 |
Fair Value Carrying Amount Less Unpaid Principal Assets | 122 | 144 |
Loans reported as trading account assets | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | 5,653 | 4,995 |
Contractual Principal Outstanding Assets | 11,134 | 9,214 |
Fair Value Carrying Amount Less Unpaid Principal Assets | (5,481) | (4,219) |
Trading inventory – other | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | 8,701 | 8,149 |
Consumer and commercial loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | 8,108 | 6,938 |
Contractual Principal Outstanding Assets | 8,132 | 7,293 |
Fair Value Carrying Amount Less Unpaid Principal Assets | (24) | (355) |
Loans held-for-sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | 4,652 | 4,818 |
Contractual Principal Outstanding Assets | 5,979 | 6,157 |
Fair Value Carrying Amount Less Unpaid Principal Assets | (1,327) | (1,339) |
Other assets | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Assets | 314 | 275 |
Contractual Principal Outstanding Assets | 250 | 270 |
Fair Value Carrying Amount Less Unpaid Principal Assets | 64 | 5 |
Long-term deposits | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 913 | 1,116 |
Contractual Principal Outstanding Liabilities | 782 | 1,021 |
Fair Value Carrying Amount Less Unpaid Principal Liabilities | 131 | 95 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 31,868 | 24,574 |
Contractual Principal Outstanding Liabilities | 32,031 | 24,718 |
Fair Value Carrying Amount Less Unpaid Principal Liabilities | (163) | (144) |
Short-term borrowings | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 1,055 | 1,325 |
Contractual Principal Outstanding Liabilities | 1,055 | 1,325 |
Fair Value Carrying Amount Less Unpaid Principal Liabilities | 0 | 0 |
Unfunded loan commitments | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 216 | 658 |
Long-term debt | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 32,619 | 30,097 |
Contractual Principal Outstanding Liabilities | 32,650 | 30,593 |
Fair Value Carrying Amount Less Unpaid Principal Liabilities | (31) | (496) |
Structured liabilities | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Fair Value Carrying Amount Liabilities | 31,600 | 29,000 |
Contractual Principal Outstanding Liabilities | $ 31,500 | $ 29,400 |
Fair Value Option - Changes in
Fair Value Option - Changes in FV of Assets and Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | $ 1,150 | $ 1,291 | $ 990 | $ 1,920 |
Federal funds sold and securities borrowed or purchased under agreements to resell | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (25) | 7 | (26) | (81) |
Loans reported as trading account assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 125 | (30) | 251 | (98) |
Trading inventory – other | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 907 | 273 | 551 | 447 |
Consumer and commercial loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 5 | (118) | 18 | (156) |
Loans held-for-sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 139 | 162 | 560 | 641 |
Other assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 23 | (3) | 20 | 4 |
Long-term deposits | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 8 | (20) | (33) | 1 |
Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (3) | (23) | 25 | |
Unfunded loan commitments | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 133 | (201) | 444 | (146) |
Short-term borrowings | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 1 | |||
Long-term debt | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (162) | 1,243 | (795) | 1,283 |
Trading Account Profits (Losses) | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 867 | 1,528 | 87 | 2,191 |
Trading Account Profits (Losses) | Federal funds sold and securities borrowed or purchased under agreements to resell | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (25) | 7 | (26) | (81) |
Trading Account Profits (Losses) | Loans reported as trading account assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 125 | (30) | 251 | (98) |
Trading Account Profits (Losses) | Trading inventory – other | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 907 | 273 | 551 | 447 |
Trading Account Profits (Losses) | Consumer and commercial loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (8) | 11 | 26 | 40 |
Trading Account Profits (Losses) | Loans held-for-sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 5 | (4) | 10 | (25) |
Trading Account Profits (Losses) | Other assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Trading Account Profits (Losses) | Long-term deposits | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 4 | (4) | (7) | (4) |
Trading Account Profits (Losses) | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (3) | (23) | 25 | |
Trading Account Profits (Losses) | Unfunded loan commitments | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Trading Account Profits (Losses) | Short-term borrowings | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 1 | |||
Trading Account Profits (Losses) | Long-term debt | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | (138) | 1,297 | (718) | 1,887 |
Mortgage Banking Income (Loss) | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 132 | 155 | 493 | 567 |
Mortgage Banking Income (Loss) | Federal funds sold and securities borrowed or purchased under agreements to resell | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Loans reported as trading account assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Trading inventory – other | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Consumer and commercial loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Loans held-for-sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 132 | 155 | 493 | 567 |
Mortgage Banking Income (Loss) | Other assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Long-term deposits | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | |
Mortgage Banking Income (Loss) | Unfunded loan commitments | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Mortgage Banking Income (Loss) | Short-term borrowings | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | |||
Mortgage Banking Income (Loss) | Long-term debt | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Other Income (Loss) | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 151 | (392) | 410 | (838) |
Other Income (Loss) | Federal funds sold and securities borrowed or purchased under agreements to resell | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Other Income (Loss) | Loans reported as trading account assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Other Income (Loss) | Trading inventory – other | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | 0 |
Other Income (Loss) | Consumer and commercial loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 13 | (129) | (8) | (196) |
Other Income (Loss) | Loans held-for-sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 2 | 11 | 57 | 99 |
Other Income (Loss) | Other assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 23 | (3) | 20 | 4 |
Other Income (Loss) | Long-term deposits | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 4 | (16) | (26) | 5 |
Other Income (Loss) | Federal funds purchased and securities loaned or sold under agreements to repurchase | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | 0 | 0 | |
Other Income (Loss) | Unfunded loan commitments | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 133 | (201) | 444 | (146) |
Other Income (Loss) | Short-term borrowings | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | 0 | |||
Other Income (Loss) | Long-term debt | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) relating to assets and liabilities accounted for under the fair value option | $ (24) | $ (54) | $ (77) | $ (604) |
Fair Value Option - Gains (Loss
Fair Value Option - Gains (Losses) Related to Borrower-specific Credit Risk (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Loans held-for-sale | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) related to borrower-specific credit risk for assets and liabilities accounted for under the fair value option | $ (10) | $ 8 | $ (6) | $ 58 |
Consumer and commercial loans | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) related to borrower-specific credit risk for assets and liabilities accounted for under the fair value option | 14 | (88) | (25) | (100) |
Loans reported as trading account assets | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains (losses) related to borrower-specific credit risk for assets and liabilities accounted for under the fair value option | $ 0 | $ 14 | $ 5 | $ 44 |
Fair Value of Financial Inst121
Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Financial assets | ||
Loans held-for-sale, measured at fair value | $ 4,652 | $ 4,818 |
Financial liabilities | ||
Long-term debt | 32,619 | 30,097 |
Carrying Value | ||
Financial assets | ||
Loans | 872,148 | 863,561 |
Loans held-for-sale, measured at fair value | 10,586 | 7,453 |
Financial liabilities | ||
Deposits | 1,232,895 | 1,197,259 |
Long-term debt | 225,136 | 236,764 |
Commercial unfunded lending commitments | 985 | 1,300 |
Estimate of Fair Value Measurement | ||
Financial assets | ||
Loans | 891,854 | 875,594 |
Loans held-for-sale, measured at fair value | 10,586 | 7,453 |
Financial liabilities | ||
Deposits | 1,233,110 | 1,197,577 |
Long-term debt | 229,728 | 241,109 |
Commercial unfunded lending commitments | 5,000 | 6,300 |
Level 2 | Estimate of Fair Value Measurement | ||
Financial assets | ||
Loans | 74,098 | 70,223 |
Loans held-for-sale, measured at fair value | 9,627 | 5,347 |
Financial liabilities | ||
Deposits | 1,233,110 | 1,197,577 |
Long-term debt | 227,794 | 239,596 |
Level 3 | Estimate of Fair Value Measurement | ||
Financial assets | ||
Loans | 817,756 | 805,371 |
Loans held-for-sale, measured at fair value | 959 | 2,106 |
Financial liabilities | ||
Deposits | 0 | 0 |
Long-term debt | $ 1,934 | $ 1,513 |
Mortgage Servicing Rights - Rol
Mortgage Servicing Rights - Rollforward of Mortgage Servicing Rights (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Rollforward of Mortgage Servicing Rights | ||||
Balance, beginning of period | $ 2,269 | $ 3,521 | $ 3,087 | $ 3,530 |
Additions | 101 | 185 | 307 | 568 |
Sales | 0 | (87) | 0 | (399) |
Amortization of expected cash flows | (206) | (213) | (622) | (666) |
Impact of changes in interest rates and other market factors | 313 | (363) | (295) | 10 |
Balance, end of period | 2,477 | 3,043 | 2,477 | 3,043 |
Mortgage loans serviced for investors (in billions) | 355,000 | 408,000 | 355,000 | 408,000 |
Operating Segments | Consumer Banking | ||||
Rollforward of Mortgage Servicing Rights | ||||
Balance, end of period | 1,800 | 2,300 | 1,800 | 2,300 |
Operating Segments | Global Markets | ||||
Rollforward of Mortgage Servicing Rights | ||||
Balance, end of period | 466 | 344 | 466 | 344 |
All Other | ||||
Rollforward of Mortgage Servicing Rights | ||||
Balance, end of period | $ 226 | $ 418 | $ 226 | $ 418 |
Mortgage Servicing Rights - Add
Mortgage Servicing Rights - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Transfers and Servicing [Abstract] | |||
Impact of changes in interest rates and other market factors | $ 282 | ||
Prepayment rates | |||
Impact of 10% decrease | 125 | $ 125 | |
Impact of 20% decrease | 262 | 262 | |
Impact of 10% increase | (113) | (113) | |
Impact of 20% increase | (217) | (217) | |
OAS level | |||
Impact of 100 bps decrease | 80 | 80 | |
Impact of 200 bps decrease | 167 | 167 | |
Impact of 100 bps increase | (75) | (75) | |
Impact of 200 bps increase | $ (145) | $ (145) | |
Fixed | |||
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] | |||
Weighted-average OAS | 9.90% | 9.90% | 4.62% |
Weighted-average life, in years | 4 years 8 months 11 days | 4 years 5 months 15 days | |
Adjustable | |||
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] | |||
Weighted-average OAS | 12.29% | 12.29% | 7.61% |
Weighted-average life, in years | 3 years 5 months 7 days | 3 years 5 months 4 days |
Business Segment Information Bu
Business Segment Information Business Segment Information - Narrative (Details) - business_segment | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Segment Reporting [Abstract] | ||
Number of operating segments | 4 | 4 |
Business Segment Information (D
Business Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | $ 10,429 | $ 10,127 | $ 31,470 | $ 29,936 | |
Noninterest income | 11,434 | 11,092 | 32,907 | 34,111 | |
Total revenue, net of interest expense (FTE basis) | 21,863 | 21,219 | 64,377 | 64,047 | |
Provision for credit losses | 850 | 806 | 2,823 | 2,351 | |
Noninterest expense | 13,481 | 13,939 | 41,790 | 43,724 | |
Income before income taxes (FTE basis) | 7,532 | 6,474 | 19,764 | 17,972 | |
Income tax expense (FTE basis) | 2,577 | 1,855 | 6,554 | 5,420 | |
Net income | 4,955 | 4,619 | 13,210 | 12,552 | |
Period-end total assets | 2,195,314 | 2,152,962 | 2,195,314 | 2,152,962 | $ 2,144,287 |
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Total revenue, net of interest expense (FTE basis) | 21,454 | 20,520 | 63,407 | 62,025 | |
Net income | 5,137 | 4,467 | 14,692 | 13,034 | |
Period-end total assets | 1,970,002 | 1,857,235 | 1,970,002 | 1,857,235 | |
Operating Segments | Consumer Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | 5,290 | 5,093 | 15,825 | 15,199 | |
Noninterest income | 2,678 | 2,888 | 7,795 | 8,314 | |
Total revenue, net of interest expense (FTE basis) | 7,968 | 7,981 | 23,620 | 23,513 | |
Provision for credit losses | 698 | 523 | 1,955 | 1,662 | |
Noninterest expense | 4,371 | 4,711 | 13,324 | 14,079 | |
Income before income taxes (FTE basis) | 2,899 | 2,747 | 8,341 | 7,772 | |
Income tax expense (FTE basis) | 1,086 | 990 | 3,088 | 2,859 | |
Net income | 1,813 | 1,757 | 5,253 | 4,913 | |
Period-end total assets | 687,247 | 625,158 | 687,247 | 625,158 | |
Operating Segments | Global Wealth & Investment Management | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | 1,394 | 1,360 | 4,310 | 4,081 | |
Noninterest income | 2,985 | 3,093 | 8,963 | 9,475 | |
Total revenue, net of interest expense (FTE basis) | 4,379 | 4,453 | 13,273 | 13,556 | |
Provision for credit losses | 7 | (2) | 46 | 36 | |
Noninterest expense | 3,257 | 3,470 | 9,822 | 10,446 | |
Income before income taxes (FTE basis) | 1,115 | 985 | 3,405 | 3,074 | |
Income tax expense (FTE basis) | 418 | 353 | 1,267 | 1,130 | |
Net income | 697 | 632 | 2,138 | 1,944 | |
Period-end total assets | 289,795 | 279,237 | 289,795 | 279,237 | |
Operating Segments | Global Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | 2,470 | 2,315 | 7,439 | 6,788 | |
Noninterest income | 2,278 | 2,021 | 6,457 | 6,272 | |
Total revenue, net of interest expense (FTE basis) | 4,748 | 4,336 | 13,896 | 13,060 | |
Provision for credit losses | 118 | 181 | 870 | 454 | |
Noninterest expense | 2,151 | 2,161 | 6,449 | 6,396 | |
Income before income taxes (FTE basis) | 2,479 | 1,994 | 6,577 | 6,210 | |
Income tax expense (FTE basis) | 926 | 716 | 2,435 | 2,286 | |
Net income | 1,553 | 1,278 | 4,142 | 3,924 | |
Period-end total assets | 397,795 | 376,379 | 397,795 | 376,379 | |
Operating Segments | Global Markets | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | 1,119 | 1,094 | 3,391 | 3,059 | |
Noninterest income | 3,240 | 2,656 | 9,227 | 8,837 | |
Total revenue, net of interest expense (FTE basis) | 4,359 | 3,750 | 12,618 | 11,896 | |
Provision for credit losses | 19 | 42 | 23 | 69 | |
Noninterest expense | 2,658 | 2,697 | 7,690 | 8,606 | |
Income before income taxes (FTE basis) | 1,682 | 1,011 | 4,905 | 3,221 | |
Income tax expense (FTE basis) | 608 | 211 | 1,746 | 968 | |
Net income | 1,074 | 800 | 3,159 | 2,253 | |
Period-end total assets | 595,165 | 576,461 | 595,165 | 576,461 | |
All Other | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income (FTE basis) | 156 | 265 | 505 | 809 | |
Noninterest income | 253 | 434 | 465 | 1,213 | |
Total revenue, net of interest expense (FTE basis) | 409 | 699 | 970 | 2,022 | |
Provision for credit losses | 8 | 62 | (71) | 130 | |
Noninterest expense | 1,044 | 900 | 4,505 | 4,197 | |
Income before income taxes (FTE basis) | (643) | (263) | (3,464) | (2,305) | |
Income tax expense (FTE basis) | (461) | (415) | (1,982) | (1,823) | |
Net income | (182) | 152 | (1,482) | (482) | |
Period-end total assets | $ 225,312 | $ 295,727 | $ 225,312 | $ 295,727 |
Business Segment Information -
Business Segment Information - Reconciliation of Revenue and Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
Segments' total revenue, net of interest expense (FTE basis) | $ 21,863 | $ 21,219 | $ 64,377 | $ 64,047 | |
Consolidated revenue, net of interest expense | 21,635 | 20,992 | 63,711 | 63,383 | |
Consolidated net income | 4,955 | 4,619 | 13,210 | 12,552 | |
Consolidated total assets | 2,195,314 | 2,152,962 | 2,195,314 | 2,152,962 | $ 2,144,287 |
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Segments' total revenue, net of interest expense (FTE basis) | 21,454 | 20,520 | 63,407 | 62,025 | |
Consolidated net income | 5,137 | 4,467 | 14,692 | 13,034 | |
Consolidated total assets | 1,970,002 | 1,857,235 | 1,970,002 | 1,857,235 | |
ALM activities | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenue, net of interest expense | (46) | 336 | (20) | 453 | |
Consolidated net income | (138) | 71 | (349) | (140) | |
Consolidated total assets | 616,804 | 610,525 | 616,804 | 610,525 | |
Liquidating businesses and other | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenue, net of interest expense | 455 | 363 | 990 | 1,569 | |
Consolidated net income | (44) | 81 | (1,133) | (342) | |
Consolidated total assets | 116,989 | 147,140 | 116,989 | 147,140 | |
FTE basis adjustment | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated revenue, net of interest expense | (228) | (227) | (666) | (664) | |
Elimination of segment asset allocations to match liabilities | |||||
Segment Reporting Information [Line Items] | |||||
Consolidated total assets | $ (508,481) | $ (461,938) | $ (508,481) | $ (461,938) |