Bank of America (BAC) 10-K 24 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 23, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-6523
Entity Registrant Name	Bank of America Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-0906609
Entity Address, Address Line One	100 N. Tryon Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28255
City Area Code	704
Local Phone Number	386-5681
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 205,771,938,594
Entity Common Stock, Shares Outstanding		8,633,185,862
Documents Incorporated by Reference	Portions of the definitive proxy statement relating to the registrant’s 2021 annual meeting of stockholders are incorporated by reference in this Form 10-K in response to Items 10, 11, 12, 13 and 14 of Part III.
Entity Central Index Key	0000070858
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BAC
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrE
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series EE
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrA
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrB
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, HH
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrK
Security Exchange Name	NYSE
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L
Document Information [Line Items]
Title of 12(b) Security	7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L
Trading Symbol	BAC PrL
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 1
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share
Trading Symbol	BML PrG
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 2
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share
Trading Symbol	BML PrH
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 4
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share
Trading Symbol	BML PrJ
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 5
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share
Trading Symbol	BML PrL
Security Exchange Name	NYSE
Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)
Document Information [Line Items]
Title of 12(b) Security	Floating Rate Preferred Hybrid Income Term Securities of BAC Capital
Trading Symbol	BAC/PF
Security Exchange Name	NYSE
5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)
Document Information [Line Items]
Title of 12(b) Security	5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities
Trading Symbol	BAC/PG
Security Exchange Name	NYSE
Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation
Document Information [Line Items]
Title of 12(b) Security	Income Capital Obligation Notes initially due December 15, 2066 of
Trading Symbol	MER PrK
Security Exchange Name	NYSE
Senior Medium-Term Notes, Series A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the guarantee of the Registrant with respect thereto)
Document Information [Line Items]
Title of 12(b) Security	Senior Medium-Term Notes, Series A, Step Up Callable Notes, due
Trading Symbol	BAC/31B
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrM
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrN
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrO
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share
Trading Symbol	BAC PrP
Security Exchange Name	NYSE

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net interest income
Interest income	$ 51,585	$ 71,236	$ 66,769
Interest expense	8,225	22,345	18,607
Net interest income	43,360	48,891	48,162
Noninterest income
Fees and commissions	34,551	33,015	33,078
Market making and similar activities	8,355	9,034	9,008
Other income	(738)	304	772
Total noninterest income	42,168	42,353	42,858
Total revenue, net of interest expense	85,528	91,244	91,020
Provision for credit losses	11,320	3,590	3,282
Noninterest expense
Compensation and benefits	32,725	31,977	31,880
Occupancy and equipment	7,141	6,588	6,380
Information processing and communications	5,222	4,646	4,555
Product delivery and transaction related	3,433	2,762	2,857
Marketing	1,701	1,934	1,674
Professional fees	1,694	1,597	1,699
Other general operating	3,297	5,396	4,109
Total noninterest expense	55,213	54,900	53,154
Income before income taxes	18,995	32,754	34,584
Income tax expense	1,101	5,324	6,437
Net income	17,894	27,430	28,147
Preferred stock dividends	1,421	1,432	1,451
Net income applicable to common shareholders	$ 16,473	$ 25,998	$ 26,696
Per common share information
Earnings (in dollars per share)	$ 1.88	$ 2.77	$ 2.64
Diluted earnings (in dollars per share)	$ 1.87	$ 2.75	$ 2.61
Average common shares issued and outstanding (in shares)	8,753.2	9,390.5	10,096.5
Average diluted common shares issued and outstanding (in shares)	8,796.9	9,442.9	10,236.9

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 17,894	$ 27,430	$ 28,147
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	4,799	5,875	(3,953)
Net change in debit valuation adjustments	(498)	(963)	749
Net change in derivatives	826	616	(53)
Employee benefit plan adjustments	(98)	136	(405)
Net change in foreign currency translation adjustments	(52)	(86)	(254)
Other comprehensive income (loss)	4,977	5,578	(3,916)
Comprehensive income	$ 22,871	$ 33,008	$ 24,231

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 36,430	$ 30,152
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	344,033	131,408
Cash and cash equivalents	380,463	161,560
Time deposits placed and other short-term investments	6,546	7,107
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $108,856 and $50,364 measured at fair value)	304,058	274,597
Trading account assets (includes $91,510 and $90,946 pledged as collateral)	198,854	229,826
Derivative assets	47,179	40,485
Debt securities:
Carried at fair value	246,601	256,467
Held-to-maturity, at cost (fair value – $448,180 and $219,821)	438,249	215,730
Total debt securities	684,850	472,197
Loans and leases (includes $6,681 and $8,335 measured at fair value)	927,861	983,426
Allowance for loan and lease losses	(18,802)	(9,416)
Loans and leases, net of allowance	909,059	974,010
Premises and equipment, net	11,000	10,561
Goodwill	68,951	68,951
Loans held-for-sale (includes $1,585 and $3,709 measured at fair value)	9,243	9,158
Customer and other receivables	64,221	55,937
Other assets (includes $15,718 and $15,518 measured at fair value)	135,203	129,690
Total assets	2,819,627	2,434,079
Deposits in U.S. offices:
Noninterest-bearing	650,674	403,305
Interest-bearing (includes $481 and $508 measured at fair value)	1,038,341	940,731
Deposits in non-U.S. offices:
Noninterest-bearing	17,698	13,719
Interest-bearing	88,767	77,048
Total deposits	1,795,480	1,434,803
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $135,391 and $16,008 measured at fair value)	170,323	165,109
Trading account liabilities	71,320	83,270
Derivative liabilities	45,526	38,229
Short-term borrowings (includes $5,874 and $3,941 measured at fair value)	19,321	24,204
Accrued expenses and other liabilities (includes $16,311 and $15,434 measured at fair value and $1,878 and $813 of reserve for unfunded lending commitments)	181,799	182,798
Long-term debt (includes $32,200 and $34,975 measured at fair value)	262,934	240,856
Total liabilities	2,546,703	2,169,269
Commitments and contingencies (Note 6 – Securitizations and Other Variable Interest Entities and Note 12 – Commitments and Contingencies)
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,931,440 and 3,887,440 shares	24,510	23,401
Common stock and additional paid-in capital, $0.01  par value; authorized – 12,800,000,000 shares; issued and outstanding – 8,650,814,105 and 8,836,148,954 shares	85,982	91,723
Retained earnings	164,088	156,319
Accumulated other comprehensive income (loss)	(1,656)	(6,633)
Total shareholders’ equity	272,924	264,810
Total liabilities and shareholders’ equity	2,819,627	2,434,079
Consolidated VIEs
Assets
Trading account assets (includes $91,510 and $90,946 pledged as collateral)	5,225	5,811
Debt securities:
Loans and leases (includes $6,681 and $8,335 measured at fair value)	23,636	38,837
Allowance for loan and lease losses	(1,693)	(807)
Loans and leases, net of allowance	21,943	38,030
Other assets (includes $15,718 and $15,518 measured at fair value)	1,387	540
Total assets	28,555	44,381
Deposits in non-U.S. offices:
Short-term borrowings (includes $5,874 and $3,941 measured at fair value)	454	2,175
Long-term debt (includes $32,200 and $34,975 measured at fair value)	7,053	8,718
All other liabilities (includes $16 and $19 of non-recourse liabilities)	16	22
Total liabilities	$ 7,523	$ 10,915

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell measured at fair value	$ 108,856	$ 50,364
Trading account assets, pledged as collateral	91,510	90,946
Debt securities:
Fair Value	448,180	219,821
Loans and leases, measured at fair value	6,681	8,335
Loans held for sale, measured at fair value	1,585	3,709
Other assets, measured at fair value	15,718	15,518
Deposits in U.S. offices:
Interest bearing, measured at fair value	481	508
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value	135,391	16,008
Short-term borrowings, measured at fair value	5,874	3,941
Accrued expenses and other liabilities, measured at fair value	16,311	15,434
Accrued expenses and other liabilities, reserve for unfunded lending commitments	1,878	813
Long-term debt, measured at fair value	$ 32,200	$ 34,975
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)	3,931,440	3,887,440
Preferred stock outstanding (in shares)	3,931,440	3,887,440
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)	8,650,814,105	8,836,148,954
Common stock outstanding (in shares)	8,650,814,105	8,836,148,954
Short-term borrowings | Consolidated VIEs
Shareholders’ equity
Non-recourse debt	$ 22	$ 0
Long-term debt | Consolidated VIEs
Shareholders’ equity
Non-recourse debt	7,053	8,717
Other liabilities | Consolidated VIEs
Shareholders’ equity
Non-recourse debt	$ 16	$ 19

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Preferred Stock	Common Stock and Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ 267,146	$ 22,323	$ 138,089	$ 113,816	$ (7,082)			$ 57
Beginning balance (Accounting Standards Update 2017-12) at Dec. 31, 2017						$ 25	$ (32)	$ 57
Beginning Balance (in shares) at Dec. 31, 2017			10,287.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)	$ 0			1,270	(1,270)
Accounting standards update	us-gaap:AccountingStandardsUpdate201602Member
Net income	$ 28,147			28,147
Net change in debt securities	(3,953)				(3,953)
Net change in debit valuation adjustments	749				749
Net change in derivatives	(53)				(53)
Employee benefit plan adjustments	(405)				(405)
Net change in foreign currency translation adjustments	(254)				(254)
Dividends declared:
Common	(5,424)			(5,424)
Preferred	(1,451)			(1,451)
Issuance of preferred stock	4,515	4,515
Redemption of preferred stock	(4,512)	(4,512)
Common stock issued under employee plans, net, and other	889		$ 901	(12)
Common stock issued under employee plans, net, and other (in shares)			58.2
Common stock repurchased	(20,094)		$ (20,094)
Common stock repurchased (in shares)			(676.2)
Ending balance at Dec. 31, 2018	$ 265,325	22,326	$ 118,896	136,314	(12,211)	165	165
Ending Balance (in shares) at Dec. 31, 2018			9,669.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update	us-gaap:AccountingStandardsUpdate201613Member
Net income	$ 27,430			27,430
Net change in debt securities	5,875				5,875
Net change in debit valuation adjustments	(963)				(963)
Net change in derivatives	616				616
Employee benefit plan adjustments	136				136
Net change in foreign currency translation adjustments	(86)				(86)
Dividends declared:
Common	(6,146)			(6,146)
Preferred	(1,432)			(1,432)
Issuance of preferred stock	3,643	3,643
Redemption of preferred stock	(2,568)	(2,568)
Common stock issued under employee plans, net, and other	959		$ 971	(12)
Common stock issued under employee plans, net, and other (in shares)			123.3
Common stock repurchased	(28,144)		$ (28,144)
Common stock repurchased (in shares)			(956.5)
Ending balance at Dec. 31, 2019	264,810	23,401	$ 91,723	156,319	(6,633)	$ (2,406)	$ (2,406)
Ending Balance (in shares) at Dec. 31, 2019			8,836.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,894			17,894
Net change in debt securities	4,799				4,799
Net change in debit valuation adjustments	(498)				(498)
Net change in derivatives	826				826
Employee benefit plan adjustments	(98)				(98)
Net change in foreign currency translation adjustments	(52)				(52)
Dividends declared:
Common	(6,289)			(6,289)
Preferred	(1,421)			(1,421)
Issuance of preferred stock	2,181	2,181
Redemption of preferred stock	(1,072)	(1,072)
Common stock issued under employee plans, net, and other	1,275		$ 1,284	(9)
Common stock issued under employee plans, net, and other (in shares)			41.7
Common stock repurchased	(7,025)		$ (7,025)
Common stock repurchased (in shares)			(227)
Ending balance at Dec. 31, 2020	$ 272,924	$ 24,510	$ 85,982	$ 164,088	$ (1,656)
Ending Balance (in shares) at Dec. 31, 2020			8,650.8

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 17,894	$ 27,430	$ 28,147
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	11,320	3,590	3,282
Gains on sales of debt securities	(411)	(217)	(154)
Depreciation and amortization	1,843	1,729	2,063
Net amortization of premium/discount on debt securities	4,101	2,066	1,824
Deferred income taxes	(1,737)	2,435	3,041
Stock-based compensation	2,031	1,974	1,729
Impairment of equity method investment	0	2,072	0
Loans held-for-sale:
Originations and purchases	(19,657)	(28,874)	(28,071)
Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities	19,049	30,191	28,972
Net change in:
Trading and derivative assets/liabilities	16,942	7,920	(23,673)
Other assets	(12,883)	(11,113)	11,920
Accrued expenses and other liabilities	(4,385)	16,363	13,010
Other operating activities, net	3,886	6,211	(2,570)
Net cash provided by operating activities	37,993	61,777	39,520
Investing activities
Time deposits placed and other short-term investments	561	387	3,659
Federal funds sold and securities borrowed or purchased under agreements to resell	(29,461)	(13,466)	(48,384)
Debt securities carried at fair value:
Proceeds from sales	77,524	52,006	5,117
Proceeds from paydowns and maturities	91,084	79,114	78,513
Purchases	(194,877)	(152,782)	(76,640)
Held-to-maturity debt securities:
Proceeds from paydowns and maturities	93,835	34,770	18,789
Purchases	(257,535)	(37,115)	(35,980)
Loans and leases:
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities	13,351	12,201	21,365
Purchases	(5,229)	(5,963)	(4,629)
Other changes in loans and leases, net	36,571	(46,808)	(31,292)
Other investing activities, net	(3,489)	(2,974)	(1,986)
Net cash used in investing activities	(177,665)	(80,630)	(71,468)
Financing activities
Deposits	360,677	53,327	71,931
Federal funds purchased and securities loaned or sold under agreements to repurchase	5,214	(21,879)	10,070
Short-term borrowings	(4,893)	4,004	(12,478)
Long-term debt:
Proceeds from issuance	57,013	52,420	64,278
Retirement	(47,948)	(50,794)	(53,046)
Preferred stock:
Proceeds from issuance	2,181	3,643	4,515
Redemption	(1,072)	(2,568)	(4,512)
Common stock repurchased	(7,025)	(28,144)	(20,094)
Cash dividends paid	(7,727)	(5,934)	(6,895)
Other financing activities, net	(601)	(698)	(651)
Net cash provided by financing activities	355,819	3,377	53,118
Effect of exchange rate changes on cash and cash equivalents	2,756	(368)	(1,200)
Net increase (decrease) in cash and cash equivalents	218,903	(15,844)	19,970
Cash and cash equivalents at January 1	161,560	177,404	157,434
Cash and cash equivalents at December 31	380,463	161,560	177,404
Supplemental cash flow disclosures
Interest paid	8,662	22,196	19,087
Income taxes paid, net	$ 2,894	$ 4,359	$ 2,470

Summary of Significant Accounti

Summary of Significant Accounting Principles	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Principles	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 requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could materially differ from those estimates and assumptions. Certain prior-period amounts have been reclassified to conform to current period presentation. New Accounting Standards Accounting for Financial Instruments -- Credit Losses On January 1, 2020, the Corporation adopted the new accounting standard that requires the measurement of the allowance for credit losses to be based on management’s best estimate of lifetime expected credit losses (ECL) inherent in the Corporation’s relevant financial assets. Upon adoption of the standard on January 1, 2020, the Corporation recorded a $3.3 billion, or 32 percent, increase to the allowance for credit losses. After adjusting for deferred taxes and other adoption effects, a $2.4 billion decrease was recorded in retained earnings through a cumulative-effect adjustment. Prior to January 1, 2020, the allowance for credit losses was determined based on management’s estimate of probable incurred losses. Reference Rate Reform The Financial Accounting Standards Board (FASB) issued a new accounting standard in March 2020, which was subsequently amended in January 2021, related to contracts or hedging relationships that reference London Interbank Offered Rate (LIBOR) or other reference rates that are expected to be discontinued due to reference rate reform. The new standard provides for optional expedients and other guidance regarding the accounting related to modifications of contracts, hedging relationships and other transactions affected by reference rate reform. The Corporation has elected to retrospectively adopt the new standard as of January 1, 2020. The adoption did not have a material accounting impact on the Corporation’s consolidated financial position or results of operations; however, it did ease the administrative burden in accounting for certain effects of reference rate reform. Significant Accounting Principles Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in the process of collection, cash segregated under federal and other brokerage regulations, and amounts due from correspondent banks, the Federal Reserve Bank and certain non-U.S. central banks. Certain cash balances are restricted as to withdrawal or usage by legally binding contractual agreements or regulatory requirements. Securities Financing Agreements Securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase (securities financing agreements) are treated as collateralized financing transactions except in instances where the transaction is required to be accounted for as individual sale and purchase transactions. Generally, these agreements are recorded at acquisition or sale price plus accrued interest, except for securities financing agreements that the Corporation accounts for under the fair value option. Changes in the fair value of securities financing agreements that are accounted for under the fair value option are recorded in market making and similar activities in the Consolidated Statement of Income. The Corporation’s policy is to monitor the market value of the principal amount loaned under resale agreements and obtain collateral from or return collateral pledged to counterparties when appropriate. Securities financing agreements do not create material credit risk due to these collateral provisions; therefore, an allowance for loan losses is not necessary. In transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged or sold as collateral, it recognizes an asset on the Consolidated Balance Sheet at fair value, representing the securities received, and a liability, representing the obligation to return those securities. Collateral The Corporation accepts securities and loans as collateral that it is permitted by contract or practice to sell or repledge. At December 31, 2020 and 2019, the fair value of this collateral was $812.4 billion and $693.0 billion, of which $758.5 billion and $593.8 billion were sold or repledged. The primary source of this collateral is securities borrowed or purchased under agreements to resell. The Corporation also pledges company-owned securities and loans as collateral in transactions that include repurchase agreements, securities loaned, public and trust deposits, U.S. Treasury tax and loan notes, and short-term borrowings. This collateral, which in some cases can be sold or repledged by the counterparties to the transactions, is parenthetically disclosed on the Consolidated Balance Sheet. In certain cases, the Corporation has transferred assets to consolidated VIEs where those restricted assets serve as collateral for the interests issued by the VIEs. These assets are included on the Consolidated Balance Sheet in Assets of Consolidated VIEs. In addition, the Corporation obtains collateral in connection with its derivative contracts. Required collateral levels vary depending on the credit risk rating and the type of counterparty. Generally, the Corporation accepts collateral in the form of cash, U.S. Treasury securities and other marketable securities. Based on provisions contained in master netting agreements, the Corporation nets cash collateral received against derivative assets. The Corporation also pledges collateral on its own derivative positions which can be applied against derivative liabilities. Trading Instruments Financial instruments utilized in trading activities are carried at fair value. Fair value is generally based on quoted market prices for the same or similar assets and liabilities. If these market prices are not available, fair values are estimated based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques where the determination of fair value may require significant management judgment or estimation. Realized gains and losses are recorded on a trade-date basis. Realized and unrealized gains and losses are recognized in market making and similar activities. Derivatives and Hedging Activities 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 are both designated in qualifying accounting hedge relationships and derivatives used to hedge market risks in relationships that are not designated in qualifying accounting hedge relationships (referred to as other risk management activities). The Corporation manages interest rate and foreign currency exchange rate sensitivity predominantly through the use of derivatives. Derivatives utilized by the Corporation include swaps, futures and forward settlement contracts, and option contracts. All derivatives are recorded on the Consolidated Balance Sheet at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow the Corporation to settle positive and negative positions and offset cash collateral held with the same counterparty on a net basis. For exchange-traded contracts, fair value is based on quoted market prices in active or inactive markets or is derived from observable market-based pricing parameters, similar to those applied to over-the-counter (OTC) derivatives. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies or similar techniques for which the determination of fair value may require significant management judgment or estimation. Valuations of derivative assets and liabilities reflect the value of the instrument including counterparty credit risk. These values also take into account the Corporation’s own credit standing. Trading Derivatives and Other Risk Management Activities Derivatives held for trading purposes are included in derivative assets or derivative liabilities on the Consolidated Balance Sheet with changes in fair value included in market making and similar activities. Derivatives used for other risk management activities are included in derivative assets or derivative liabilities. Derivatives used in other risk management activities have not been designated in qualifying accounting hedge relationships because they did not qualify or the risk that is being mitigated pertains to an item that is reported at fair value through earnings so that the effect of measuring the derivative instrument and the asset or liability to which the risk exposure pertains will offset in the Consolidated Statement of Income to the extent effective. The changes in the fair value of derivatives that serve to mitigate certain risks associated with mortgage servicing rights (MSRs), interest rate lock commitments (IRLCs) and first-lien mortgage loans held-for-sale (LHFS) that are originated by the Corporation are recorded in other income. Changes in the fair value of derivatives that serve to mitigate interest rate risk and foreign currency risk are included in market making and similar activities. Credit derivatives are also used by the Corporation to mitigate the risk associated with various credit exposures. The changes in the fair value of these derivatives are included in market making and similar activities and other income. Derivatives Used For Hedge Accounting Purposes (Accounting Hedges) For accounting hedges, the Corporation formally documents at inception all relationships between hedging instruments and hedged items, as well as the risk management objectives and strategies for undertaking various accounting hedges. Additionally, the Corporation primarily uses regression analysis at the inception of a hedge and for each reporting period thereafter to assess whether the derivative used in an accounting hedge transaction is expected to be and has been highly effective in offsetting changes in the fair value or cash flows of a hedged item or forecasted transaction. The Corporation discontinues hedge accounting when it is determined that a derivative is not expected to be or has ceased to be highly effective as a hedge, and then reflects changes in fair value of the derivative in earnings after termination of the hedge relationship. Fair value hedges are used to protect against changes in the fair value of the Corporation’s assets and liabilities that are attributable to interest rate or foreign exchange volatility. Changes in the fair value of derivatives designated as fair value hedges are recorded in earnings, together and in the same income statement line item with changes in the fair value of the related hedged item. If a derivative instrument in a fair value hedge is terminated or the hedge designation removed, the previous adjustments to the carrying value of the hedged asset or liability are subsequently accounted for in the same manner as other components of the carrying value of that asset or liability. For interest-earning assets and interest-bearing liabilities, such adjustments are amortized to earnings over the remaining life of the respective asset or liability. Cash flow hedges are used primarily to minimize the variability in cash flows of assets and liabilities or forecasted transactions caused by interest rate or foreign exchange rate fluctuations. The Corporation also uses cash flow hedges to hedge the price risk associated with deferred compensation. Changes in the fair value of derivatives used in cash flow hedges are recorded in accumulated other comprehensive income (OCI) and are reclassified into the line item in the income statement in which the hedged item is recorded in the same period the hedged item affects earnings. Components of a derivative that are excluded in assessing hedge effectiveness are recorded in the same income statement line item as the hedged item. Net investment hedges are used to manage the foreign exchange rate sensitivity arising from a net investment in a foreign operation. Changes in the spot prices of derivatives that are designated as net investment hedges of foreign operations are recorded as a component of accumulated OCI. The remaining components of these derivatives are excluded in assessing hedge effectiveness and are recorded in market making and similar activities. Securities Debt securities are reported on the Consolidated Balance Sheet at their trade date. Their classification is dependent on the purpose for which the securities were acquired. Debt securities purchased for use in the Corporation’s trading activities are reported in trading account assets at fair value with unrealized gains and losses included in market making and similar activities. Substantially all other debt securities purchased are used in the Corporation’s asset and liability management (ALM) activities and are reported on the Consolidated Balance Sheet as either debt securities carried at fair value or as held-to-maturity (HTM) debt securities. Debt securities carried at fair value are either available-for-sale (AFS) securities with unrealized gains and losses net-of-tax included in accumulated OCI or carried at fair value with unrealized gains and losses reported in market making and similar activities. HTM debt securities are debt securities that management has the intent and ability to hold to maturity and are reported at amortized cost. The Corporation evaluates each AFS security where the value has declined below amortized cost. If the Corporation intends to sell or believes it is more likely than not that it will be required to sell the debt security, it is written down to fair value through earnings. For AFS debt securities the Corporation intends to hold, the Corporation evaluates the debt securities for ECL except for debt securities that are guaranteed by the U.S. Treasury, U.S. government agencies or sovereign entities of high credit quality where the Corporation applies a zero credit loss assumption. For the remaining AFS debt securities, the Corporation considers qualitative parameters such as internal and external credit ratings and the value of underlying collateral. If an AFS debt security fails any of the qualitative parameters, a discounted cash flow analysis is used by the Corporation to determine if a portion of the unrealized loss is a result of an expected credit loss. The Corporation will then recognize either credit loss expense or a reversal of credit loss expense in other income for the amount necessary to adjust the debt securities valuation allowance to its current estimate of excepted credit losses. Cash flows expected to be collected are estimated using all relevant information available such as remaining payment terms, prepayment speeds, the financial condition of the issuer, expected defaults and the value of the underlying collateral. If any of the decline in fair value is related to market factors, that amount is recognized in accumulated OCI. In certain instances, the credit loss may exceed the total decline in fair value, in which case, the allowance recorded is limited to the difference between the amortized cost and the fair value of the asset. The Corporation separately evaluates its HTM debt securities for any credit losses, of which substantially all qualify for the zero loss assumption. For the remaining securities, the Corporation performs a discounted cash flow analysis to estimate any credit losses which are then recognized as part of the allowance for credit losses. Interest on debt securities, including amortization of premiums and accretion of discounts, is included in interest income. Premiums and discounts are amortized or accreted to interest income at a constant effective yield over the contractual lives of the securities. Realized gains and losses from the sales of debt securities are determined using the specific identification method. Equity securities with readily determinable fair values that are not held for trading purposes are carried at fair value with unrealized gains and losses included in other income. Equity securities that do not have readily determinable fair values are recorded at cost less impairment, if any, plus or minus qualifying observable price changes. These securities are reported in other assets. Loans and Leases Loans, with the exception of loans accounted for under the fair value option, are measured at historical cost and reported at their outstanding principal balances net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans, and for purchased loans, net of any unamortized premiums or discounts. Loan origination fees and certain direct origination costs are deferred and recognized as adjustments to interest income over the lives of the related loans. Unearned income, discounts and premiums are amortized to interest income using a level yield methodology. The Corporation elects to account for certain consumer and commercial loans under the fair value option with interest reported in interest income and changes in fair value reported in market making and similar activities or other income. Under applicable accounting guidance, for reporting purposes, the loan and lease portfolio is categorized by portfolio segment and, within each portfolio segment, by class of financing receivables. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine the allowance for credit losses, and a class of financing receivables is defined as the level of disaggregation of portfolio segments based on the initial measurement attribute, risk characteristics and methods for assessing risk. The Corporation’s three portfolio segments are Consumer Real Estate, Credit Card and Other Consumer, and Commercial. The classes within the Consumer Real Estate portfolio segment are residential mortgage and home equity . The classes within the Credit Card and Other Consumer portfolio segment are credit card, direct/indirect consumer and other consumer. The classes within the Commercial portfolio segment are U.S. commercial, non-U.S. commercial, commercial real estate, commercial lease financing and U.S. small business commercial. Leases The Corporation provides equipment financing to its customers through a variety of lessor arrangements. Direct financing leases and sales-type leases are carried at the aggregate of lease payments receivable plus the estimated residual value of the leased property less unearned income, which is accreted to interest income over the lease terms using methods that approximate the interest method. Operating lease income is recognized on a straight-line basis. The Corporation's lease arrangements generally do not contain non-lease components. Allowance for Credit Losses The allowance for credit losses includes both the allowance for loan and lease losses and the reserve for unfunded lending commitments and represents management’s estimate of the ECL in the Corporation’s loan and lease portfolio, excluding loans and unfunded lending commitments accounted for under the fair value option. The ECL on funded consumer and commercial loans and leases is referred to as the allowance for loan and lease losses and is reported separately as a contra-asset to loans and leases on the Consolidated Balance Sheet. The ECL for unfunded lending commitments, including home equity lines of credit (HELOCs), standby letters of credit (SBLCs) and binding unfunded loan commitments is reported on the Consolidated Balance Sheet in accrued expenses and other liabilities. The provision for credit losses related to the loan and lease portfolio and unfunded lending commitments is reported in the Consolidated Statement of Income. For loans and leases, the ECL is typically estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio as well as an economic outlook over the life of the loan. The life of the loan for closed-ended products is based on the contractual maturity of the loan adjusted for any expected prepayments. The contractual maturity includes any extension options that are at the sole discretion of the borrower. For open-ended products (e.g., lines of credit), the ECL is determined based on the maximum repayment term associated with future draws from credit lines unless those lines of credit are unconditionally cancellable (e.g., credit cards) in which case the Corporation does not record any allowance. In its loss forecasting framework, the Corporation incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, unemployment rates, real estate prices, gross domestic product levels and corporate bond spreads. As any one economic outlook is inherently uncertain, the Corporation leverages multiple scenarios. The scenarios that are chosen each quarter and the weighting given to each scenario depend on a variety of factors including recent economic events, leading economic indicators, views of internal and third-party economists and industry trends. The estimate of credit losses includes expected recoveries of amounts previously charged off (i.e., negative allowance). If a loan has been charged off, the expected cash flows on the loan are not limited by the current amortized cost balance. Instead, expected cash flows can be assumed up to the unpaid principal balance immediately prior to the charge-off. The allowance for loan and lease losses for troubled debt restructurings (TDR) is measured based on the present value of projected future lifetime principal and interest cash flows discounted at the loan’s original effective interest rate, or in cases where foreclosure is probable or the loan is collateral dependent, at the loan’s collateral value or its observable market price, if available. The measurement of ECL for the renegotiated consumer credit card TDR portfolio is based on the present value of projected cash flows discounted using the average TDR portfolio contractual interest rate, excluding promotionally priced loans, in effect prior to restructuring. Projected cash flows for TDRs use the same economic outlook as discussed above. For purposes of computing this specific loss component of the allowance, larger impaired loans are evaluated individually and smaller impaired loans are evaluated as a pool. Also included in the allowance for loan and lease losses are qualitative reserves to cover losses that are expected but, in the Corporation's assessment, may not be adequately reflected in the quantitative methods or the economic assumptions described above. For example, factors that the Corporation considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and nonaccrual loans, the effect of external factors such as competition, and legal and regulatory requirements, among others. Further, the Corporation considers the inherent uncertainty in quantitative models that are built on historical data. With the exception of the Corporation's credit card portfolio, the Corporation does not include reserves for interest receivable in the measurement of the allowance for credit losses as the Corporation generally classifies consumer loans as nonperforming at 90 days past due and reverses interest income for these loans at that time. For credit card loans, the Corporation reserves for interest and fees as part of the allowance for loan and lease losses. Upon charge-off of a credit card loan, the Corporation reverses the interest and fee income against the income statement line item where it was originally recorded. The Corporation has identified the following three portfolio segments and measures the allowance for credit losses using the following methods. Consumer Real Estate To estimate ECL for consumer loans secured by residential real estate, the Corporation estimates the number of loans that will default over the life of the existing portfolio, after factoring in estimated prepayments, using quantitative modeling methodologies. The attributes that are most significant in estimating the Corporation’s ECL include refreshed loan-to-value (LTV) or, in the case of a subordinated lien, refreshed combined LTV (CLTV), borrower credit score, months since origination and geography, all of which are further broken down by present collection status (whether the loan is current, delinquent, in default, or in bankruptcy). The estimates are based on the Corporation’s historical experience with the loan portfolio, adjusted to reflect the economic outlook. The outlook on the unemployment rate and consumer real estate prices are key factors that impact the frequency and severity of loss estimates. The Corporation does not reserve for credit losses on the unpaid principal balance of loans insured by the Federal Housing Administration (FHA) and long-term standby loans, as these loans are fully insured. The Corporation records a reserve for unfunded lending commitments for the ECL associated with the undrawn portion of the Corporation’s HELOCs, which can only be canceled by the Corporation if certain criteria are met. The ECL associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. For loans that are more than 180 days past due and collateral-dependent TDRs, the Corporation bases the allowance on the estimated fair value of the underlying collateral as of the reporting date less costs to sell. The fair value of the collateral securing these loans is generally determined using an automated valuation model (AVM) that estimates the value of a property by reference to market data including sales of comparable properties and price trends specific to the Metropolitan Statistical Area in which the property being valued is located. In the event that an AVM value is not available, the Corporation utilizes publicized indices or if these methods provide less reliable valuations, the Corporation uses appraisals or broker price opinions to estimate the fair value of the collateral. While there is inherent imprecision in these valuations, the Corporation believes that they are representative of this portfolio in the aggregate. For loans that are more than 180 days past due and collateral-dependent TDRs, with the exception of the Corporation’s fully insured portfolio, the outstanding balance of loans that is in excess of the estimated property value after adjusting for costs to sell is charged off. If the estimated property value decreases in periods subsequent to the initial charge-off, the Corporation will record an additional charge-off; however, if the value increases in periods subsequent to the charge-off, the Corporation will adjust the allowance to account for the increase but not to a level above the cumulative charge-off amount. Credit Cards and Other Consumer Credit cards are revolving lines of credit without a defined maturity date. The estimated life of a credit card receivable is determined by estimating the amount and timing of expected future payments (e.g., borrowers making full payments, minimum payments or somewhere in between) that it will take for a receivable balance to pay off. The ECL on the future payments incorporates the spending behavior of a borrower through time using key borrower-specific factors and the economic outlook described above. The Corporation applies all expected payments in accordance with the Credit Card Accountability Responsibility and Disclosure Act of 2009 (i.e., paying down the highest interest rate bucket first). Then forecasted future payments are prioritized to pay off the oldest balance until it is brought to zero or an expected charge-off amount. Unemployment rate outlook, borrower credit score, delinquency status and historical payment behavior are all key inputs into the credit card receivable loss forecasting model. Future draws on the credit card lines are excluded from the ECL as they are unconditionally cancellable. The ECL for the consumer vehicle lending portfolio is also determined using quantitative methods supplemented with qualitative analysis. The quantitative model estimates ECL giving consideration to key borrower and loan characteristics such as delinquency status, borrower credit score, LTV ratio, underlying collateral type and collateral value. Commercial The ECL on commercial loans is forecasted using models that estimate credit losses over the loan’s contractual life at an individual loan level. The models use the contractual terms to forecast future principal cash flows while also considering expected prepayments. For open-ended commitments such as revolving lines of credit, changes in funded balance are captured by forecasting a borrower’s draw and payment behavior over the remaining life of the commitment. For loans collateralized with commercial real estate and for which the underlying asset is the primary source of repayment, the loss forecasting models consider key loan and customer attributes such as LTV ratio, net operating income and debt service coverage, and captures variations in behavior according to property type and region. The outlook on the unemployment rate, gross domestic product, and forecasted real estate prices are utilized to determine indicators such as rent levels and vacancy rates, which impact the ECL estimate. For all other commercial loans and leases, the loss forecasting model determines the probabilities of transition to different credit risk ratings or default at each point over the life of the asset based on the borrower’s current credit risk rating, industry sector, size of the exposure and the geographic market. The severity of loss is determined based on the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook, and the model considers key economic variables such as unemployment rate, gross domestic product, corporate bond spreads, real estate and other asset prices and equity market returns. In addition to the allowance for loan and lease losses, the Corporation also estimates ECL related to unfunded lending commitments such as letters of credit, financial guarantees, unfunded bankers acceptances and binding loan commitments, excluding commitments accounted for under the fair value option. Reserves are estimated for the unfunded exposure using the same models and methodologies as the funded exposure and are reported as reserves for unfunded lending commitments. Nonperforming Loans and Leases, Charge-offs and Delinquencies Nonperforming

Net Interest Income and Noninte

Net Interest Income and Noninterest Income	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Net Interest Income and Noninterest Income	Net Interest Income and Noninterest Income The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2020, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other , see Note 23 – Business Segment Information . (Dollars in millions) 2020 2019 2018 Net interest income Interest income Loans and leases $ 34,029 $ 43,086 $ 40,811 Debt securities 9,790 11,806 11,724 Federal funds sold and securities borrowed or purchased under agreements to resell 903 4,843 3,176 Trading account assets 4,128 5,196 4,811 Other interest income 2,735 6,305 6,247 Total interest income 51,585 71,236 66,769 Interest expense Deposits 1,943 7,188 4,495 Short-term borrowings 987 7,208 5,839 Trading account liabilities 974 1,249 1,358 Long-term debt 4,321 6,700 6,915 Total interest expense 8,225 22,345 18,607 Net interest income $ 43,360 $ 48,891 $ 48,162 Noninterest income Fees and commissions Card income Interchange fees (1) $ 3,954 $ 3,834 $ 3,866 Other card income 1,702 1,963 1,958 Total card income 5,656 5,797 5,824 Service charges Deposit-related fees 5,991 6,588 6,667 Lending-related fees 1,150 1,086 1,100 Total service charges 7,141 7,674 7,767 Investment and brokerage services Asset management fees 10,708 10,241 10,189 Brokerage fees 3,866 3,661 3,971 Total investment and brokerage services 14,574 13,902 14,160 Investment banking fees Underwriting income 4,698 2,998 2,722 Syndication fees 861 1,184 1,347 Financial advisory services 1,621 1,460 1,258 Total investment banking fees 7,180 5,642 5,327 Total fees and commissions 34,551 33,015 33,078 Market making and similar activities 8,355 9,034 9,008 Other income (loss) (738) 304 772 Total noninterest income $ 42,168 $ 42,353 $ 42,858 (1) Gross interchange fees were $9.2 billion, $10.0 billion and $9.5 billion for 2020, 2019 and 2018, respectively, and are presented net of $5.5 billion, $6.2 billion and $5.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	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. The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at December 31, 2020 and 2019. 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 cash collateral received or paid. December 31, 2020 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Total Trading and Other Risk Management Derivatives Qualifying Total Interest rate contracts Swaps $ 13,242.8 $ 199.9 $ 10.9 $ 210.8 $ 209.3 $ 1.3 $ 210.6 Futures and forwards 3,222.2 3.5 0.1 3.6 3.6 — 3.6 Written options 1,530.5 — — — 40.5 — 40.5 Purchased options 1,545.8 45.3 — 45.3 — — — Foreign exchange contracts Swaps 1,475.8 37.1 0.3 37.4 39.7 0.6 40.3 Spot, futures and forwards 3,710.7 53.4 — 53.4 54.5 0.5 55.0 Written options 289.6 — — — 4.8 — 4.8 Purchased options 279.3 5.0 — 5.0 — — — Equity contracts Swaps 320.2 13.3 — 13.3 14.5 — 14.5 Futures and forwards 106.2 0.3 — 0.3 1.4 — 1.4 Written options 599.1 — — — 48.8 — 48.8 Purchased options 541.2 52.6 — 52.6 — — — Commodity contracts Swaps 36.4 1.9 — 1.9 4.4 — 4.4 Futures and forwards 63.6 2.0 — 2.0 1.0 — 1.0 Written options 24.6 — — — 1.4 — 1.4 Purchased options 24.7 1.5 — 1.5 — — — Credit derivatives (2) Purchased credit derivatives: Credit default swaps 322.7 2.3 — 2.3 4.4 — 4.4 Total return swaps/options 63.6 0.2 — 0.2 1.0 — 1.0 Written credit derivatives: Credit default swaps 301.5 4.4 — 4.4 1.9 — 1.9 Total return swaps/options 68.6 0.6 — 0.6 0.4 — 0.4 Gross derivative assets/liabilities $ 423.3 $ 11.3 $ 434.6 $ 431.6 $ 2.4 $ 434.0 Less: Legally enforceable master netting agreements (344.9) (344.9) Less: Cash collateral received/paid (42.5) (43.6) Total derivative assets/liabilities $ 47.2 $ 45.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The net derivative asset (liability) and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names were $2.2 billion and $269.8 billion at December 31, 2020. December 31, 2019 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Total Trading and Other Risk Management Derivatives Qualifying Total Interest rate contracts Swaps $ 15,074.4 $ 162.0 $ 9.7 $ 171.7 $ 168.5 $ 0.4 $ 168.9 Futures and forwards 3,279.8 1.0 — 1.0 1.0 — 1.0 Written options 1,767.7 — — — 32.5 — 32.5 Purchased options 1,673.6 37.4 — 37.4 — — — Foreign exchange contracts Swaps 1,657.7 30.3 0.7 31.0 31.7 0.9 32.6 Spot, futures and forwards 3,792.7 35.9 0.1 36.0 38.7 0.3 39.0 Written options 274.3 — — — 3.8 — 3.8 Purchased options 261.6 4.0 — 4.0 — — — Equity contracts Swaps 315.0 6.5 — 6.5 8.1 — 8.1 Futures and forwards 125.1 0.3 — 0.3 1.1 — 1.1 Written options 731.1 — — — 34.6 — 34.6 Purchased options 668.6 42.4 — 42.4 — — — Commodity contracts Swaps 42.0 2.1 — 2.1 4.4 — 4.4 Futures and forwards 61.3 1.7 — 1.7 0.4 — 0.4 Written options 33.2 — — — 1.4 — 1.4 Purchased options 37.9 1.4 — 1.4 — — — Credit derivatives (2) Purchased credit derivatives: Credit default swaps 321.6 2.7 — 2.7 5.6 — 5.6 Total return swaps/options 86.6 0.4 — 0.4 1.3 — 1.3 Written credit derivatives: Credit default swaps 300.2 5.4 — 5.4 2.0 — 2.0 Total return swaps/options 86.2 0.8 — 0.8 0.4 — 0.4 Gross derivative assets/liabilities $ 334.3 $ 10.5 $ 344.8 $ 335.5 $ 1.6 $ 337.1 Less: Legally enforceable master netting agreements (270.4) (270.4) Less: Cash collateral received/paid (33.9) (28.5) Total derivative assets/liabilities $ 40.5 $ 38.2 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The net derivative asset (liability) and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names were $2.8 billion and $309.7 billion at December 31, 2019. 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 following table presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at December 31, 2020 and 2019 by primary risk (e.g., interest rate risk) and the platform, where applicable, on which these derivatives are transacted. 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 include reducing the balance for counterparty netting and cash collateral received or paid. For more information on offsetting of securities financing agreements, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash . Offsetting of Derivatives (1) Derivative Derivative Liabilities Derivative Derivative Liabilities (Dollars in billions) December 31, 2020 December 31, 2019 Interest rate contracts Over-the-counter $ 247.7 $ 243.5 $ 203.1 $ 196.6 Exchange-traded — — 0.1 0.1 Over-the-counter cleared 10.2 9.1 6.0 5.3 Foreign exchange contracts Over-the-counter 92.2 96.5 69.2 73.1 Over-the-counter cleared 1.4 1.3 0.5 0.5 Equity contracts Over-the-counter 31.3 28.3 21.3 17.8 Exchange-traded 32.3 31.0 26.4 22.8 Commodity contracts Over-the-counter 3.5 5.0 2.8 4.2 Exchange-traded 0.7 0.7 0.8 0.8 Over-the-counter cleared — — — 0.1 Credit derivatives Over-the-counter 5.2 5.6 6.4 6.6 Over-the-counter cleared 2.2 1.9 2.5 2.2 Total gross derivative assets/liabilities, before netting Over-the-counter 379.9 378.9 302.8 298.3 Exchange-traded 33.0 31.7 27.3 23.7 Over-the-counter cleared 13.8 12.3 9.0 8.1 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (345.7) (347.2) (274.7) (269.3) Exchange-traded (29.5) (29.5) (21.5) (21.5) Over-the-counter cleared (12.2) (11.8) (8.1) (8.1) Derivative assets/liabilities, after netting 39.3 34.4 34.8 31.2 Other gross derivative assets/liabilities (2) 7.9 11.1 5.7 7.0 Total derivative assets/liabilities 47.2 45.5 40.5 38.2 Less: Financial instruments collateral (3) (16.1) (16.6) (14.6) (16.1) Total net derivative assets/liabilities $ 31.1 $ 28.9 $ 25.9 $ 22.1 (1) 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. Exchange-traded derivatives include listed options transacted on an exchange. (2) Consists of derivatives entered into under master netting agreements where the enforceability of these agreements is uncertain under bankruptcy laws in some countries or industries. (3) Amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged. Financial instruments collateral includes securities collateral received or pledged and cash securities held and posted at third-party custodians that are not offset on the Consolidated Balance Sheet but shown as a reduction to derive net derivative assets and liabilities. 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 in the mortgage business 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 MSRs. 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. Exposure to loss on these contracts will increase or decrease over their respective lives as currency exchange and interest rates fluctuate. 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 and foreign exchange derivative contracts to protect against changes in the fair value of its assets and liabilities due to fluctuations in interest rates and exchange rates (fair value hedges). The Corporation also uses these types of contracts 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 following table summarizes information related to fair value hedges for 2020, 2019 and 2018. Gains and Losses on Derivatives Designated as Fair Value Hedges Derivative Hedged Item (Dollars in millions) 2020 2019 2018 2020 2019 2018 Interest rate risk on long-term debt (1) $ 7,091 $ 6,113 $ (1,538) $ (7,220) $ (6,110) $ 1,429 Interest rate and foreign currency risk on long-term debt (2) 783 119 (1,187) (783) (101) 1,079 Interest rate risk on available-for-sale securities (3) (44) (102) (52) 49 98 50 Total $ 7,830 $ 6,130 $ (2,777) $ (7,954) $ (6,113) $ 2,558 (1) Amounts are recorded in interest expense in the Consolidated Statement of Income. (2) In 2020, 2019 and 2018, the derivative amount includes gains (losses) of $701 million, $73 million and $(116) million in interest expense, $73 million, $28 million and $(992) million in market making and similar activities, and $9 million, $18 million and $(79) million in accumulated OCI, respectively. Line item totals are in the Consolidated Statement of Income and on the Consolidated Balance Sheet. (3) Amounts are recorded in interest income in the Consolidated Statement of Income. The table below summarizes the carrying value of hedged assets and liabilities that are designated and qualifying in fair value hedging relationships along with the cumulative amount of fair value hedging adjustments included in the carrying value that have been recorded in the current hedging relationships. These fair value hedging adjustments are open basis adjustments that are not subject to amortization as long as the hedging relationship remains designated. Designated Fair Value Hedged Assets (Liabilities) Carrying Value Cumulative Fair Value Adjustments (1) Carrying Value Cumulative Fair Value Adjustments (1) (Dollars in millions) December 31, 2020 December 31, 2019 Long-term debt (2) $ (150,556) $ (8,910) $ (162,389) $ (8,685) Available-for-sale debt securities (2, 3, 4) 116,252 114 1,654 64 Trading account assets (5) 427 15 — — (1) For assets, increase (decrease) to carrying value and for liabilities, (increase) decrease to carrying value. (2) At December 31, 2020 and 2019, the cumulative fair value adjustments remaining on long-term debt and AFS debt securities from discontinued hedging relationships resulted in an (increase) decrease in the related liability of $(3.7) billion and $1.3 billion and an increase (decrease) in the related asset of $(69) million and $8 million, which are being amortized over the remaining contractual life of the de-designated hedged items. (3) These amounts include the amortized cost basis of the prepayable financial assets used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship (i.e. last-of-layer hedging relationship). At December 31, 2020, the amortized cost of the closed portfolios used in these hedging relationships was $34.6 billion, of which $7.0 billion was designated in the last-of-layer hedging relationship. The cumulative basis adjustments associated with these hedging relationships were not significant. (4) Carrying value represents amortized cost. (5) Represents hedging activities related to precious metals inventory. Cash Flow and Net Investment Hedges The following table summarizes certain information related to cash flow hedges and net investment hedges for 2020, 2019 and 2018. Of the $426 million after-tax net gain ($566 million pretax) on derivatives in accumulated OCI at December 31, 2020, gains of $190 million after-tax ($254 million pretax) related to both open and terminated hedges are expected to be reclassified into earnings in the next 12 months. These net gains reclassified into earnings are expected to primarily increase net interest income related to the respective hedged items. For terminated cash flow hedges, the time period over which the majority of the forecasted transactions are hedged is approximately 3 years, with a maximum length of time for certain forecasted transactions of 16 years. Gains and Losses on Derivatives Designated as Cash Flow and Net Investment Hedges Gains (Losses) Recognized in Gains (Losses) in Income (Dollars in millions, amounts pretax) 2020 2019 2018 2020 2019 2018 Cash flow hedges Interest rate risk on variable-rate assets (1) $ 763 $ 671 $ (159) $ (7) $ (104) $ (165) Price risk on forecasted MBS purchases (1) 241 — — 9 — — Price risk on certain compensation plans (2) 85 34 4 12 (2) 27 Total $ 1,089 $ 705 $ (155) $ 14 $ (106) $ (138) Net investment hedges Foreign exchange risk (3) $ (834) $ 22 $ 989 $ 4 $ 366 $ 411 (1) Amounts reclassified from accumulated OCI are recorded in interest income in the Consolidated Statement of Income. (2) Amounts reclassified from accumulated OCI are recorded in compensation and benefits expense in the Consolidated Statement of Income. (3) Amounts reclassified from accumulated OCI are recorded in other income in the Consolidated Statement of Income. Amounts excluded from effectiveness testing and recognized in market making and similar activities were gains (losses) of $(11) million, $154 million and $47 million in 2020, 2019 and 2018, respectively. Other Risk Management Derivatives Other risk management derivatives are used by the Corporation to reduce certain risk exposures by economically hedging various assets and liabilities. The following table presents gains (losses) on these derivatives for 2020, 2019 and 2018. These gains (losses) are largely offset by the income or expense recorded on the hedged item. Gains and Losses on Other Risk Management Derivatives (Dollars in millions) 2020 2019 2018 Interest rate risk on mortgage activities (1, 2) $ 446 $ 315 $ (107) Credit risk on loans (2) (68) (58) 9 Interest rate and foreign currency risk on ALM activities (3) (2,971) 1,112 3,278 Price risk on certain compensation plans (4) 700 943 (495) (1) Primarily related to hedges of interest rate risk on MSRs and IRLCs to originate mortgage loans that will be held for sale. The net gains on IRLCs, which are not included in the table but are considered derivative instruments, were $165 million, $73 million and $47 million in 2020, 2019 and 2018. (2) Gains (losses) on these derivatives are recorded in other income. (3) Gains (losses) on these derivatives are recorded in market making and similar activities. (4) Gains (losses) on these derivatives are recorded in compensation and benefits 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. At both December 31, 2020 and 2019, the Corporation had transferred $5.2 billion of non-U.S. government-guaranteed mortgage-backed securities to a third-party trust and retained economic exposure to the transferred assets through derivative contracts. In connection with these transfers, the Corporation received gross cash proceeds of $5.2 billion as of both transfer dates. At December 31, 2020 and 2019, the fair value of the transferred securities was $5.5 billion and $5.3 billion. 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 market making and similar activities 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 market making and similar activities. For debt securities, revenue, with the exception of interest associated with the debt securities, is typically included in market making and similar activities. 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 market making and similar activities as part of the initial mark to fair value. For derivatives, the majority of revenue is included in market making and similar activities. In transactions where the Corporation acts as agent, which include exchange-traded futures and options, fees are recorded in other income. The following table, 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 2020, 2019 and 2018. This table includes debit valuation adjustment (DVA) and funding valuation adjustment (FVA) gains (losses). Global Markets results in Note 23 – 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 Market making and similar activities Net Interest Other (1) Total (Dollars in millions) 2020 Interest rate risk $ 2,211 $ 2,400 $ 231 $ 4,842 Foreign exchange risk 1,482 (20) 3 1,465 Equity risk 3,656 (77) 1,801 5,380 Credit risk 812 1,638 328 2,778 Other risk 308 4 44 356 Total sales and trading revenue $ 8,469 $ 3,945 $ 2,407 $ 14,821 2019 Interest rate risk $ 1,000 $ 1,817 $ 113 $ 2,930 Foreign exchange risk 1,288 62 57 1,407 Equity risk 3,563 (634) 1,569 4,498 Credit risk 1,091 1,807 519 3,417 Other risk 120 70 53 243 Total sales and trading revenue $ 7,062 $ 3,122 $ 2,311 $ 12,495 2018 Interest rate risk $ 810 $ 1,651 $ 245 $ 2,706 Foreign exchange risk 1,504 31 22 1,557 Equity risk 3,870 (657) 1,643 4,856 Credit risk 1,034 1,886 600 3,520 Other risk 40 197 49 286 Total sales and trading revenue $ 7,258 $ 3,108 $ 2,559 $ 12,925 (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 $1.9 billion, $1.7 billion and $1.7 billion in 2020, 2019 and 2018, respectively. 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 predefined 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 derivatives 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 where the Corporation is the seller of credit protection and their expiration at December 31, 2020 and 2019 are summarized in the following table. Credit Derivative Instruments Less than One to Three to Over Five Total December 31, 2020 (Dollars in millions) Carrying Value Credit default swaps: Investment grade $ — $ 1 $ 35 $ 94 $ 130 Non-investment grade 26 233 364 1,163 1,786 Total 26 234 399 1,257 1,916 Total return swaps/options: Investment grade 21 4 — — 25 Non-investment grade 345 — — — 345 Total 366 4 — — 370 Total credit derivatives $ 392 $ 238 $ 399 $ 1,257 $ 2,286 Credit-related notes: Investment grade $ — $ — $ — $ 572 $ 572 Non-investment grade 64 2 10 947 1,023 Total credit-related notes $ 64 $ 2 $ 10 $ 1,519 $ 1,595 Maximum Payout/Notional Credit default swaps: Investment grade $ 33,474 $ 75,731 $ 87,218 $ 16,822 $ 213,245 Non-investment grade 13,664 28,770 35,978 9,852 88,264 Total 47,138 104,501 123,196 26,674 301,509 Total return swaps/options: Investment grade 30,961 1,061 77 — 32,099 Non-investment grade 36,128 364 27 5 36,524 Total 67,089 1,425 104 5 68,623 Total credit derivatives $ 114,227 $ 105,926 $ 123,300 $ 26,679 $ 370,132 December 31, 2019 Carrying Value Credit default swaps: Investment grade $ — $ 5 $ 60 $ 164 $ 229 Non-investment grade 70 292 561 808 1,731 Total 70 297 621 972 1,960 Total return swaps/options: Investment grade 35 — — — 35 Non-investment grade 344 — — — 344 Total 379 — — — 379 Total credit derivatives $ 449 $ 297 $ 621 $ 972 $ 2,339 Credit-related notes: Investment grade $ — $ 3 $ 1 $ 639 $ 643 Non-investment grade 6 2 1 1,125 1,134 Total credit-related notes $ 6 $ 5 $ 2 $ 1,764 $ 1,777 Maximum Payout/Notional Credit default swaps: Investment grade $ 55,827 $ 67,838 $ 71,320 $ 17,708 $ 212,693 Non-investment grade 19,049 26,521 29,618 12,337 87,525 Total 74,876 94,359 100,938 30,045 300,218 Total return swaps/options: Investment grade 56,488 — 62 76 56,626 Non-investment grade 28,707 657 104 60 29,528 Total 85,195 657 166 136 86,154 Total credit derivatives $ 160,071 $ 95,016 $ 101,104 $ 30,181 $ 386,372 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 so that certain credit risk-related losses occur within acceptable, predefined limits. Credit-related notes in the table above include investments in securities issued by 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 112, the Corporation enters into legally enforceable master netting agreements that reduce risk by permitting closeout and netting of transactions with the same counterparty upon the occurrence of certain events. Certain 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 December 31, 2020 and 2019, the Corporation held cash and securities collateral of $96.5 billion and $84.3 billion and posted cash and securities collateral of $88.6 billion and $69.1 billion in the normal course of business under derivative agreements, excluding 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 additional collateral required depends on the contract and is usually a fixed incremental amount and/or the market value of the exposure. At December 31, 2020, the amount of collateral, calculated based on the terms of the contracts, that the Corporation and certain subsidiaries could be required to post to counterparties but had not yet posted to counterparties was $2.6 billion, including $1.2 billion for Bank of America, National Association (BANA). Some counterparties are currently able to unilaterally terminate certain contracts, or the Corporation or certain subsidiaries may be required to take other action such as find a suitable replacement or obtain a guarantee. At December 31, 2020 and 2019, the liability recorded for these derivative contracts was not significant. The following table presents the amount of additional collateral that would have been contractually required by derivative contracts and other trading agreements at December 31, 2020 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 at December 31, 2020 (Dollars in millions) One Second Bank of America Corporation $ 300 $ 735 Bank of America, N.A. and subsidiaries (1) 61 570 (1) Included in Bank of America Corporation collateral requirements in this table. The following table 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 December 31, 2020 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 at December 31, 2020 (Dollars in millions) One Second Derivative liabilities $ 45 $ 1,035 Collateral posted 23 544 Valuation Adjustments on Derivatives The Corporation records credit risk valuation adjustments on derivatives in order to properly reflect the credit quality of the counterparties and its own credit quality. The Corporation calculates valuation adjustments on derivatives based on a modeled expected exposure that incorporates current market risk factors. The exposure also takes into consideration credit mitigants such as enforceable master netting agreements and collateral. CDS spread data is used to estimate the default probabilities and severities that are applied to the exposures. Where no observable credit default data is avail

Securities

Securities	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Securities	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 and HTM debt securities at December 31, 2020 and 2019. Debt Securities Amortized Gross Gross Fair (Dollars in millions) December 31, 2020 Available-for-sale debt securities Mortgage-backed securities: Agency $ 59,518 $ 2,370 $ (39) $ 61,849 Agency-collateralized mortgage obligations 5,112 161 (13) 5,260 Commercial 15,470 1,025 (4) 16,491 Non-agency residential (1) 899 127 (17) 1,009 Total mortgage-backed securities 80,999 3,683 (73) 84,609 U.S. Treasury and agency securities 114,157 2,236 (13) 116,380 Non-U.S. securities 14,009 15 (7) 14,017 Other taxable securities, substantially all asset-backed securities 2,656 61 (6) 2,711 Total taxable securities 211,821 5,995 (99) 217,717 Tax-exempt securities 16,417 389 (32) 16,774 Total available-for-sale debt securities (3) 228,238 6,384 (131) 234,491 Other debt securities carried at fair value (2) 11,720 429 (39) 12,110 Total debt securities carried at fair value 239,958 6,813 (170) 246,601 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities (3) 438,279 10,095 (194) 448,180 Total debt securities (3,4) $ 678,237 $ 16,908 $ (364) $ 694,781 December 31, 2019 Available-for-sale debt securities Mortgage-backed securities: Agency $ 121,698 $ 1,013 $ (183) $ 122,528 Agency-collateralized mortgage obligations 4,587 78 (24) 4,641 Commercial 14,797 249 (25) 15,021 Non-agency residential (1) 948 138 (9) 1,077 Total mortgage-backed securities 142,030 1,478 (241) 143,267 U.S. Treasury and agency securities 67,700 1,023 (195) 68,528 Non-U.S. securities 11,987 6 (2) 11,991 Other taxable securities, substantially all asset-backed securities 3,874 67 — 3,941 Total taxable securities 225,591 2,574 (438) 227,727 Tax-exempt securities 17,716 202 (6) 17,912 Total available-for-sale debt securities 243,307 2,776 (444) 245,639 Other debt securities carried at fair value (2) 10,596 255 (23) 10,828 Total debt securities carried at fair value 253,903 3,031 (467) 256,467 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 215,730 4,433 (342) 219,821 Total debt securities (3, 4) $ 469,633 $ 7,464 $ (809) $ 476,288 (1) At December 31, 2020 and 2019, the underlying collateral type included approximately 37 percent and 49 percent prime, two percent and six percent Alt-A and 61 percent and 45 percent subprime. (2) Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements. Any changes in value are reported in market making and similar activities. For detail on the components, see Note 20 – Fair Value Measurements . (3) Includes securities pledged as collateral of $65.5 billion and $67.0 billion at December 31, 2020 and 2019. (4) The Corporation held debt securities from FNMA and FHLMC that each exceeded 10 percent of shareholders’ equity, with an amortized cost of $260.1 billion and $118.1 billion, and a fair value of $267.5 billion and $120.7 billion at December 31, 2020, and an amortized cost of $157.2 billion and $54.1 billion, and a fair value of $160.6 billion and $55.1 billion at December 31, 2019. At December 31, 2020, the accumulated net unrealized gain on AFS debt securities, excluding the amount related to debt securities previously transferred to held to maturity, included in accumulated OCI was $4.7 billion, net of the related income tax expense of $1.6 billion. The Corporation had nonperforming AFS debt securities of $20 million and $9 million at December 31, 2020 and 2019. Effective January 1, 2020, the Corporation adopted the new accounting standard for credit losses that requires evaluation of AFS and HTM debt securities for any expected losses with recognition of an allowance for credit losses, when applicable. For more information, see Note 1 – Summary of Significant Accounting Principles . At December 31, 2020, the Corporation had $200.0 billion in AFS debt securities, which were primarily U.S. agency and U.S. Treasury securities that have a zero credit loss assumption. For the remaining $34.5 billion in AFS debt securities, the amount of ECL was insignificant. Substantially all of the Corporation's HTM debt securities are U.S. agency and U.S. Treasury securities and have a zero credit loss assumption. At December 31, 2020 and 2019, the Corporation held equity securities at an aggregate fair value of $769 million and $891 million and other equity securities, as valued under the measurement alternative, at a carrying value of $240 million and $183 million, both of which are included in other assets. At December 31, 2020 and 2019, the Corporation also held money market investments at a fair value of $1.6 billion and $1.0 billion, which are included in time deposits placed and other short-term investments. The gross realized gains and losses on sales of AFS debt securities for 2020, 2019 and 2018 are presented in the table below. Gains and Losses on Sales of AFS Debt Securities (Dollars in millions) 2020 2019 2018 Gross gains $ 423 $ 336 $ 169 Gross losses (12) (119) (15) Net gains on sales of AFS debt securities $ 411 $ 217 $ 154 Income tax expense attributable to realized net gains on sales of AFS debt securities $ 103 $ 54 $ 37 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 December 31, 2020 and 2019. Total AFS Debt Securities in a Continuous Unrealized Loss Position Less than Twelve Months Twelve Months or Longer Total Fair Gross Unrealized Losses Fair Gross Unrealized Losses Fair Gross Unrealized Losses (Dollars in millions) December 31, 2020 Continuously unrealized loss-positioned AFS debt securities Mortgage-backed securities: Agency $ 2,841 $ (39) $ 2 $ — $ 2,843 $ (39) Agency-collateralized mortgage obligations 187 (2) 364 (11) 551 (13) Commercial 566 (4) 9 — 575 (4) Non-agency residential 342 (9) 56 (8) 398 (17) Total mortgage-backed securities 3,936 (54) 431 (19) 4,367 (73) U.S. Treasury and agency securities 8,282 (9) 498 (4) 8,780 (13) Non-U.S. securities 1,861 (6) 135 (1) 1,996 (7) Other taxable securities, substantially all asset-backed securities 576 (2) 396 (4) 972 (6) Total taxable securities 14,655 (71) 1,460 (28) 16,115 (99) Tax-exempt securities 4,108 (29) 617 (3) 4,725 (32) Total AFS debt securities in a continuous $ 18,763 $ (100) $ 2,077 $ (31) $ 20,840 $ (131) December 31, 2019 Continuously unrealized loss-positioned AFS debt securities Mortgage-backed securities: Agency $ 17,641 $ (41) $ 17,238 $ (142) $ 34,879 $ (183) Agency-collateralized mortgage obligations 255 (1) 925 (23) 1,180 (24) Commercial 2,180 (22) 442 (3) 2,622 (25) Non-agency residential 122 (6) 22 (3) 144 (9) Total mortgage-backed securities 20,198 (70) 18,627 (171) 38,825 (241) U.S. Treasury and agency securities 12,836 (71) 18,866 (124) 31,702 (195) Non-U.S. securities 851 — 837 (2) 1,688 (2) Other taxable securities, substantially all asset-backed securities 938 — 222 — 1,160 — Total taxable securities 34,823 (141) 38,552 (297) 73,375 (438) Tax-exempt securities 4,286 (5) 190 (1) 4,476 (6) Total AFS debt securities in a continuous $ 39,109 $ (146) $ 38,742 $ (298) $ 77,851 $ (444) The remaining contractual maturity distribution and yields of the Corporation’s debt securities carried at fair value and HTM debt securities at December 31, 2020 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the mortgages or other ABS are passed through to the Corporation. Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities Due in One Due after One Year Due after Five Years Due after 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 $ — — % $ 7 5.69 % $ 56 4.44 % $ 59,455 3.36 % $ 59,518 3.36 % Agency-collateralized mortgage obligations — — — — 24 2.57 5,088 2.94 5,112 2.94 Commercial 26 3.04 6,669 2.52 7,711 2.32 1,077 2.64 15,483 2.43 Non-agency residential — — — — 1 — 1,620 6.77 1,621 6.77 Total mortgage-backed securities 26 3.04 6,676 2.52 7,792 2.34 67,240 3.40 81,734 3.23 U.S. Treasury and agency securities 10,020 1.26 29,533 1.85 74,665 0.74 32 2.55 114,250 1.07 Non-U.S. securities 22,862 0.31 926 1.81 581 1.09 532 1.79 24,901 0.42 Other taxable securities, substantially all asset-backed securities 699 1.15 1,336 2.46 366 2.26 255 1.60 2,656 2.00 Total taxable securities 33,607 0.61 38,471 1.99 83,404 0.89 68,059 3.38 223,541 1.80 Tax-exempt securities 872 0.87 8,430 1.27 4,397 1.66 2,718 1.41 16,417 1.38 Total amortized cost of debt securities carried at fair value $ 34,479 0.62 $ 46,901 1.86 $ 87,801 0.93 $ 70,777 3.30 $ 239,958 1.77 Amortized cost of HTM debt securities (2) $ 15 3.78 $ 66 2.73 $ 17,133 1.86 $ 421,065 2.40 $ 438,279 2.38 Debt securities carried at fair value Mortgage-backed securities: Agency $ — $ 7 $ 61 $ 61,781 $ 61,849 Agency-collateralized mortgage obligations — — 24 5,236 5,260 Commercial 26 7,077 8,242 1,160 16,505 Non-agency residential — — 7 1,776 1,783 Total mortgage-backed securities 26 7,084 8,334 69,953 85,397 U.S. Treasury and agency securities 10,056 30,873 75,511 33 116,473 Non-U.S. securities 23,187 940 582 534 25,243 Other taxable securities, substantially all asset-backed securities 702 1,369 379 264 2,714 Total taxable securities 33,971 40,266 84,806 70,784 229,827 Tax-exempt securities 874 8,554 4,566 2,780 16,774 Total debt securities carried at fair value $ 34,845 $ 48,820 $ 89,372 $ 73,564 $ 246,601 Fair value of HTM debt securities (2) $ 14 $ 69 $ 17,139 $ 430,958 $ 448,180 (1) The weighted-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 an

Outstanding Loans and Leases and Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Outstanding Loans and Leases and Allowance for Credit Losses	Outstanding Loans and Leases and Allowance for Credit Losses 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 December 31, 2020 and 2019. 30-59 Days Past Due (1) 60-89 Days Past Due (1) 90 Days or Past Due (1) Total Past Total Current or Less Than 30 Days Past Due (1) Loans Accounted for Under the Fair Value Option Total (Dollars in millions) December 31, 2020 Consumer real estate Core portfolio Residential mortgage $ 1,157 $ 175 $ 786 $ 2,118 $ 213,155 $ 215,273 Home equity 126 61 269 456 29,872 30,328 Non-core portfolio Residential mortgage 273 122 913 1,308 6,974 8,282 Home equity 28 17 76 121 3,862 3,983 Credit card and other consumer Credit card 445 341 903 1,689 77,019 78,708 Direct/Indirect consumer (2) 209 67 37 313 91,050 91,363 Other consumer — — — — 124 124 Total consumer 2,238 783 2,984 6,005 422,056 428,061 Consumer loans accounted for under the fair value option (3) $ 735 735 Total consumer loans and leases 2,238 783 2,984 6,005 422,056 735 428,796 Commercial U.S. commercial 561 214 512 1,287 287,441 288,728 Non-U.S. commercial 61 44 11 116 90,344 90,460 Commercial real estate (4) 128 113 226 467 59,897 60,364 Commercial lease financing 86 20 57 163 16,935 17,098 U.S. small business commercial (5) 84 56 123 263 36,206 36,469 Total commercial 920 447 929 2,296 490,823 493,119 Commercial loans accounted for under the fair value option (3) 5,946 5,946 Total commercial loans and leases 920 447 929 2,296 490,823 5,946 499,065 Total loans and leases (6) $ 3,158 $ 1,230 $ 3,913 $ 8,301 $ 912,879 $ 6,681 $ 927,861 Percentage of outstandings 0.34 % 0.13 % 0.42 % 0.89 % 98.39 % 0.72 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $225 million and nonperforming loans of $126 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $103 million and nonperforming loans of $95 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $762 million. Consumer real estate loans current or less than 30 days past due includes $1.2 billion and direct/indirect consumer includes $66 million of nonperforming loans. For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the pandemic, see Note 1 – Summary of Significant Accounting Principles . (2) Total outstandings primarily includes auto and specialty lending loans and leases of $46.4 billion, U.S. securities-based lending loans of $41.1 billion and non-U.S. consumer loans of $3.0 billion. (3) Consumer loans accounted for under the fair value option includes residential mortgage loans of $298 million and home equity loans of $437 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.9 billion and non-U.S. commercial loans of $3.0 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option . (4) Total outstandings includes U.S. commercial real estate loans of $57.2 billion and non-U.S. commercial real estate loans of $3.2 billion. (5) Includes PPP loans. (6) Total outstandings includes loans and leases pledged as collateral of $15.5 billion. The Corporation also pledged $153.1 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank. 30-59 Days (1) 60-89 Days Past Due (1) 90 Days or (1) Total Past Total Current or Less Than 30 Days Past Due (1) Loans Total Outstandings (Dollars in millions) December 31, 2019 Consumer real estate Core portfolio Residential mortgage $ 1,378 $ 261 $ 565 $ 2,204 $ 223,566 $ 225,770 Home equity 135 70 198 403 34,823 35,226 Non-core portfolio Residential mortgage 458 209 1,263 1,930 8,469 10,399 Home equity 34 16 72 122 4,860 4,982 Credit card and other consumer Credit card 564 429 1,042 2,035 95,573 97,608 Direct/Indirect consumer (2) 297 85 35 417 90,581 90,998 Other consumer — — — — 192 192 Total consumer 2,866 1,070 3,175 7,111 458,064 465,175 Consumer loans accounted for under the fair value option (3) $ 594 594 Total consumer loans and leases 2,866 1,070 3,175 7,111 458,064 594 465,769 Commercial U.S. commercial 788 279 371 1,438 305,610 307,048 Non-U.S. commercial 35 23 8 66 104,900 104,966 Commercial real estate (4) 144 19 119 282 62,407 62,689 Commercial lease financing 100 56 39 195 19,685 19,880 U.S. small business commercial 119 56 107 282 15,051 15,333 Total commercial 1,186 433 644 2,263 507,653 509,916 Commercial loans accounted for under the fair value option (3) 7,741 7,741 Total commercial loans and leases 1,186 433 644 2,263 507,653 7,741 517,657 Total loans and leases (5) $ 4,052 $ 1,503 $ 3,819 $ 9,374 $ 965,717 $ 8,335 $ 983,426 Percentage of outstandings 0.41 % 0.15 % 0.39 % 0.95 % 98.20 % 0.85 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $517 million and nonperforming loans of $139 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $206 million and nonperforming loans of $114 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $1.1 billion. Consumer real estate loans current or less than 30 days past due includes $856 million and direct/indirect consumer includes $45 million of nonperforming loans. (2) Total outstandings primarily includes auto and specialty lending loans and leases of $50.4 billion, U.S. securities-based lending loans of $36.7 billion and non-U.S. consumer loans of $2.8 billion. (3) Consumer loans accounted for under the fair value option includes residential mortgage loans of $257 million and home equity loans of $337 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $4.7 billion and non-U.S. commercial loans of $3.1 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option . (4) Total outstandings includes U.S. commercial real estate loans of $59.0 billion and non-U.S. commercial real estate loans of $3.7 billion. (5) Total outstandings includes loans and leases pledged as collateral of $25.9 billion. The Corporation also pledged $168.2 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank. The Corporation categorizes consumer real estate loans as core and non-core based on loan and customer characteristics such as origination date, product type, LTV, Fair Isaac Corporation (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 (GSE) underwriting guidelines, or otherwise met the Corporation’s underwriting guidelines in place in 2015 are characterized as core loans. All other loans are generally characterized as non-core loans and represent runoff portfolios. The Corporation has entered into long-term credit protection agreements with FNMA and FHLMC on loans totaling $9.0 billion and $7.5 billion at December 31, 2020 and 2019, 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 Commercial nonperforming loans increased to $2.2 billion at December 31, 2020 from $1.5 billion at December 31, 2019 with broad-based increases across multiple industries. Consumer nonperforming loans increased to $2.7 billion at December 31, 2020 from $2.1 billion at December 31, 2019 driven by deferral activity, as well as the inclusion of $144 million of certain loans that were previously classified as purchased credit-impaired loans and accounted for under a pool basis. The table below presents the Corporation’s nonperforming loans and leases including nonperforming TDRs, and loans accruing past due 90 days or more at December 31, 2020 and 2019. 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 information on the Corporation's interest accrual policies, delinquency status for loan modifications related to the pandemic and the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles. Credit Quality Nonperforming Loans Accruing Past Due 90 Days or More (1) December 31 (Dollars in millions) 2020 2019 2020 2019 Residential mortgage (2) $ 2,005 $ 1,470 $ 762 $ 1,088 With no related allowance (3) 1,378 n/a — — Home equity (2) 649 536 — — With no related allowance (3) 347 n/a — — Credit Card n/a n/a 903 1,042 Direct/indirect consumer 71 47 33 33 Total consumer 2,725 2,053 1,698 2,163 U.S. commercial 1,243 1,094 228 106 Non-U.S. commercial 418 43 10 8 Commercial real estate 404 280 6 19 Commercial lease financing 87 32 25 20 U.S. small business commercial 75 50 115 97 Total commercial 2,227 1,499 384 250 Total nonperforming loans $ 4,952 $ 3,552 $ 2,082 $ 2,413 Percentage of outstanding loans and leases 0.54 % 0.36 % 0.23 % 0.25 % (1) For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the pandemic, see Note 1 – Summary of Significant Accounting Principles . (2) Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2020 and 2019 residential mortgage includes $537 million and $740 million of loans on which interest had been curtailed by the FHA, and therefore were no longer accruing interest, although principal was still insured, and $225 million and $348 million of loans on which interest was still accruing. (3) Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date. 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 . 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 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 and year of origination for term loan balances at December 31, 2020, including revolving loans that converted to term loans without an additional credit decision after origination or through a TDR. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of December 31, 2020 2020 2019 2018 2017 2016 Prior Total Residential Mortgage Refreshed LTV Less than or equal to 90 percent $ 207,389 $ 68,907 $ 43,771 $ 14,658 $ 21,589 $ 22,967 $ 35,497 Greater than 90 percent but less than or equal to 100 percent 3,138 1,970 684 128 70 96 190 Greater than 100 percent 1,210 702 174 47 39 37 211 Fully-insured loans 11,818 3,826 2,014 370 342 1,970 3,296 Total Residential Mortgage $ 223,555 $ 75,405 $ 46,643 $ 15,203 $ 22,040 $ 25,070 $ 39,194 Total Residential Mortgage Refreshed FICO score Less than 620 $ 2,717 $ 823 $ 177 $ 139 $ 170 $ 150 $ 1,258 Greater than or equal to 620 and less than 680 5,462 1,804 666 468 385 368 1,771 Greater than or equal to 680 and less than 740 25,349 8,533 4,679 1,972 2,427 2,307 5,431 Greater than or equal to 740 178,209 60,419 39,107 12,254 18,716 20,275 27,438 Fully-insured loans 11,818 3,826 2,014 370 342 1,970 3,296 Total Residential Mortgage $ 223,555 $ 75,405 $ 46,643 $ 15,203 $ 22,040 $ 25,070 $ 39,194 Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) December 31, 2020 Total Home Equity Refreshed LTV Less than or equal to 90 percent $ 33,447 $ 1,919 $ 22,639 $ 8,889 Greater than 90 percent but less than or equal to 100 percent 351 126 94 131 Greater than 100 percent 513 172 118 223 Total Home Equity $ 34,311 $ 2,217 $ 22,851 $ 9,243 Total Home Equity Refreshed FICO score Less than 620 $ 1,082 $ 250 $ 244 $ 588 Greater than or equal to 620 and less than 680 1,798 263 568 967 Greater than or equal to 680 and less than 740 5,762 556 2,905 2,301 Greater than or equal to 740 25,669 1,148 19,134 5,387 Total Home Equity $ 34,311 $ 2,217 $ 22,851 $ 9,243 (1) Includes reverse mortgages of $1.3 billion and home equity loans of $885 million which are no longer originated. Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage Direct/Indirect Term Loans by Origination Year Credit Card (Dollars in millions) Total Direct/Indirect as of December 31, 2020 Revolving Loans 2020 2019 2018 2017 2016 Prior Total Credit Card as of December 31, 2020 Revolving Loans Revolving Loans Converted to Term Loans (3) Refreshed FICO score Less than 620 $ 959 $ 19 $ 111 $ 200 $ 175 $ 243 $ 148 $ 63 $ 4,018 $ 3,832 $ 186 Greater than or equal to 620 and less than 680 2,143 20 653 559 329 301 176 105 9,419 9,201 218 Greater than or equal to 680 and less than 740 7,431 80 2,848 2,015 1,033 739 400 316 27,585 27,392 193 Greater than or equal to 740 36,064 120 12,540 10,588 5,869 3,495 1,781 1,671 37,686 37,642 44 Other internal credit metrics (1, 2) 44,766 44,098 74 115 84 67 52 276 — — — Total credit card and other $ 91,363 $ 44,337 $ 16,226 $ 13,477 $ 7,490 $ 4,845 $ 2,557 $ 2,431 $ 78,708 $ 78,067 $ 641 (1) Other internal credit metrics may include delinquency status, geography or other factors. (2) Direct/indirect consumer includes $44.1 billion of securities-based lending which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at December 31, 2020. (3) Represents TDRs that were modified into term loans. Commercial – Credit Quality Indicators By Vintage (1, 2) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans U.S. Commercial Risk ratings Pass rated $ 268,812 $ 33,456 $ 33,305 $ 17,363 $ 14,102 $ 7,420 $ 21,784 $ 141,382 Reservable criticized 19,916 2,524 2,542 2,689 854 698 1,402 9,207 Total U.S. Commercial $ 288,728 $ 35,980 $ 35,847 $ 20,052 $ 14,956 $ 8,118 $ 23,186 $ 150,589 Non-U.S. Commercial Risk ratings Pass rated $ 85,914 $ 16,301 $ 11,396 $ 7,451 $ 5,037 $ 1,674 $ 2,194 $ 41,861 Reservable criticized 4,546 914 572 492 436 138 259 1,735 Total Non-U.S. Commercial $ 90,460 $ 17,215 $ 11,968 $ 7,943 $ 5,473 $ 1,812 $ 2,453 $ 43,596 Commercial Real Estate Risk ratings Pass rated $ 50,260 $ 8,429 $ 14,126 $ 8,228 $ 4,599 $ 3,299 $ 6,542 $ 5,037 Reservable criticized 10,104 933 2,558 2,115 1,582 606 1,436 874 Total Commercial Real Estate $ 60,364 $ 9,362 $ 16,684 $ 10,343 $ 6,181 $ 3,905 $ 7,978 $ 5,911 Commercial Lease Financing Risk ratings Pass rated $ 16,384 $ 3,083 $ 3,242 $ 2,956 $ 2,532 $ 1,703 $ 2,868 $ — Reservable criticized 714 117 117 132 81 88 179 — Total Commercial Lease Financing $ 17,098 $ 3,200 $ 3,359 $ 3,088 $ 2,613 $ 1,791 $ 3,047 $ — U.S. Small Business Commercial (3) Risk ratings Pass rated $ 28,786 $ 24,539 $ 1,121 $ 837 $ 735 $ 527 $ 855 $ 172 Reservable criticized 1,148 76 239 210 175 113 322 13 Total U.S. Small Business Commercial $ 29,934 $ 24,615 $ 1,360 $ 1,047 $ 910 $ 640 $ 1,177 $ 185 Total (1, 2) $ 486,584 $ 90,372 $ 69,218 $ 42,473 $ 30,133 $ 16,266 $ 37,841 $ 200,281 (1) Excludes $5.9 billion of loans accounted for under the fair value option at December 31, 2020. (2) Includes $58 million of loans that converted from revolving to term loans. (3) Excludes U.S. Small Business Card loans of $6.5 billion. Refreshed FICO scores for this portfolio are $265 million for less than 620; $582 million for greater than or equal to 620 and less than 680; $1.7 billion for greater than or equal to 680 and less than 740; and $3.9 billion greater than or equal to 740. Troubled Debt Restructurings The Corporation has been entering into loan modifications with borrowers in response to the pandemic, most of which are not classified as TDRs, and therefore are not included in the discussion below. For more information on the criteria for classifying loans as TDRs, see Note 1 – Summary of Significant Accounting Principles . Consumer Real Estate Modifications of consumer real estate loans are classified as TDRs when the borrower is experiencing financial difficulties and a concession has been granted. 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 of $372 million that have been discharged in Chapter 7 bankruptcy with no change in repayment terms and not reaffirmed by the borrower were included in TDRs at December 31, 2020, of which $102 million were classified as nonperforming and $68 million were loans fully insured. 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. 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 reach 180 days past due prior to modification are charged off to their net realizable value, less costs to sell, before they are modified as TDRs in accordance with established policy. 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. At December 31, 2020 and 2019, remaining commitments to lend additional funds to debtors whose terms have been modified in a consumer real estate TDR were not significant. Consumer real estate foreclosed properties totaled $123 million and $229 million at December 31, 2020 and 2019. The carrying value of consumer real estate loans, including fully-insured loans, for which formal foreclosure proceedings were in process at December 31, 2020 was $1.2 billion. Although the Corporation has paused formal loan foreclosure proceedings and foreclosure sales for occupied properties, during 2020, the Corporation reclassified $182 million of consumer real estate loans completed or which were in process prior to the pause in foreclosures, to foreclosed properties or, for properties acquired upon foreclosure of certain government-guaranteed loans (principally FHA-insured loans), to other assets. The reclassifications represent non-cash investing activities and, accordingly, are not reflected in the Consolidated Statement of Cash Flows. The table below presents the December 31, 2020, 2019 and 2018 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during 2020, 2019 and 2018. 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 2020, 2019 and 2018 (1) Unpaid Principal Balance Carrying Pre-Modification Interest Rate Post-Modification Interest Rate (2) (Dollars in millions) December 31, 2020 Residential mortgage $ 732 $ 646 3.66 % 3.59 % Home equity 87 69 3.67 3.61 Total $ 819 $ 715 3.66 3.59 December 31, 2019 Residential mortgage $ 464 $ 377 4.19 % 4.13 % Home equity 141 101 5.04 4.31 Total $ 605 $ 478 4.39 4.17 December 31, 2018 Residential mortgage $ 774 $ 641 4.33 % 4.21 % Home equity 489 358 4.46 3.74 Total $ 1,263 $ 999 4.38 4.03 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles. (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. The table below presents the December 31, 2020, 2019 and 2018 carrying value for consumer real estate loans that were modified in a TDR during 2020, 2019 and 2018, by type of modification. Consumer Real Estate – Modification Programs (1) TDRs Entered into During (Dollars in millions) 2020 2019 2018 Modifications under government programs $ 13 $ 35 $ 61 Modifications under proprietary programs 570 174 523 Loans discharged in Chapter 7 bankruptcy (2) 53 68 130 Trial modifications 79 201 285 Total modifications $ 715 $ 478 $ 999 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles . (2) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. The table below presents the carrying value of consumer real estate loans that entered into payment default during 2020, 2019 and 2018 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. Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months (1) (Dollars in millions) 2020 2019 2018 Modifications under government programs $ 16 $ 26 $ 39 Modifications under proprietary programs 51 88 158 Loans discharged in Chapter 7 bankruptcy (2) 19 30 64 Trial modifications (3) 54 57 107 Total modifications $ 140 $ 201 $ 368 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles . (2) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. (3) Includes trial modification offers to which the customer did not respond. Credit Card and Other Consumer The Corporation seeks to assist customers that are experiencing financial difficulty by modifying loans while ensuring compliance with federal and local laws and guidelines. Credit card and other consumer loan modifications generally involve reducing the interest rate on the account, placing the customer on a fixed payment plan not exceeding 60 months and canceling the customer’s available line of credit, all of which are considered TDRs. The Corporation makes loan modifications directly with borrowers for debt held only by the Corporation (internal programs). Additionally, the Corporation makes loan modifications for borrowers working with third-party renegotiation agencies that provide solutions to customers’ entire unsecured debt structures (external programs). The Corporation classifies other secured consumer loans that have been discharged in Chapter 7 bankruptcy as TDRs, which are written down to collateral value and placed on nonaccrual status no later than the time of discharge. The table below provides information on the Corporation’s Credit Card and Other Consumer TDR portfolio including the December 31, 2020, 2019 and 2018 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during 2020, 2019 and 2018. Credit Card and Other Consumer – TDRs Entered into During 2020, 2019 and 2018 (1) Unpaid Principal Balance Carrying (2) Pre-Modification Interest Rate Post-Modification Interest Rate (Dollars in millions) December 31, 2020 Credit card $ 269 $ 277 18.16 % 5.63 % Direct/Indirect consumer 52 37 5.83 5.83 Total $ 321 $ 314 16.70 5.65 December 31, 2019 Credit card $ 340 $ 355 19.18 % 5.35 % Direct/Indirect consumer 40 21 5.23 5.21 Total $ 380 $ 376 18.42 5.34 December 31, 2018 Credit card $ 278 $ 292 19.49 % 5.24 % Direct/Indirect consumer 42 23 5.10 4.95 Total $ 320 $ 315 18.45 5.22 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles. (2) Includes accrued interest and fees. The table below presents the December 31, 2020, 2019 and 2018 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during 2020, 2019 and 2018, by program type. Credit Card and Other Consumer – TDRs by Program Type at December 31 (1) (Dollars in millions) 2020 2019 2018 Internal programs $ 225 $ 247 $ 199 External programs 73 108 93 Other 16 21 23 Total $ 314 $ 376 $ 315 (1) Includes accrued interest and fees. For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles. Commercial Loans Modifications of loans to commercial borrowers that are experiencing financial difficulty are designed to reduce the Corporation’s loss exposure while providing the borrower with an opportunity to work through financial difficulties, often to avoid foreclosure or bankruptcy. Each modification is unique and reflects the individual circumstances of the borrower. Modifications that result in a TDR may include extensions of maturity at a concessionary (below market) rate of interest, payment forbearances or other actions designed to benefit the borrower while mitigating the Corporation’s risk exposure. Reductions in interest rates are rare. Instead, the interest rates are typically increased, although the increased rate may not represent a market rate of interest. Infrequently, concessions may also include principal forgiveness in connection with foreclosure, short sale or other settlement agreements leading to termination or sale of the loan. At the time of restructuring, the loans are remeasured to reflect the impact, if any, on projected cash flows resulting from the modified terms. If a portion of the loan is deemed to be uncollectible, a charge-off may be recorded at the time of restructuring. Alternatively, a charge-off may have already been recorded in a previous period such that no charge-off is required at the time of modification. For more information on modifications for the U.S. small business commercial portfolio, see Credit Card and Other Consumer in this Note. At December 31, 2020 and 2019, the Corporation had $1.7 billion and $2.2 billion of commercial TDRs with remaining commitments to lend additional funds to debtors of $402 million and $445 million. The balance of commercial TDRs in payment default was $218 million and $207 million at December 31, 2020 and 2019. Loans Held-for-sale The Corporation had LHFS of $9.2 billion at both December 31, 2020 and 2019. Cash and non-cash proceeds from sales and paydowns of loans originally classified as LHFS were $20.1 billion, $30.6 billion and $29.2 billion for 2020, 2019 and 2018, respectively. Cash used for originations and purchases of LHFS totaled approximately $19.7 billion, $28.9 billion and $28.1 billion for 2020, 2019 and 2018, respectively. Accrued Interest Receivable Accrued interest receivable for loans and leases and loans held-for-sale at December 31, 2020 and 2019 was $2.4 billion and $2.6 billion and is reported in customer and other receivables on the Consolidated Balance Sheet. Outstanding credit card loan balances include unpaid principal, interest and fees. Credit card loans are not classified as nonperforming but are charged off no later than the end of the month in which the account becomes 180 days past due, within 60 days after receipt of notification of death or bankruptcy, or upon confirmation of fraud . During 2020, the Corporation reversed $512 million of interest and fee income against the income statement line item in which it was originally recorded upon charge-off of the principal balance of the loan . For the outstanding residential mortgage, home equity, direct/indirect consumer and commercial loan balances classified as nonperforming during 2020, the Corporation reversed $44 million of interest and fee income at the time the loans were classified as nonperforming against the income statement line item in which it was originally recorded. For more information on the Corporation's nonperforming loan policies, see Note 1 – Summary of Significant Accounting Principles . Allowance for Credit Losses On January 1, 2020, the Corporation adopted the new accounting standard that requires the measurement of the allowance for credit losses to be based on management’s best estimate of lifetime ECL inherent in the Corporation’s relevant financial assets. Upon adoption of the new accounting standard, the Corporation recorded a $3.3 billion, or 32 percent, increase in the allowance for credit losses on January 1, 2020, which was comprised of a net increase of $2.9 billion in the allowance for loan and lease losses and a $310 million increase in the reserve for unfunded lending commitments. The net increase in the allowance for loan and lease losses was primarily driven by a $3.1 billion increase in credit card as the Corporation now reserves for the life of these

Securitizations and Other Varia

Securitizations and Other Variable Interest Entities	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Securitizations and Other Variable Interest Entities	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 use of VIEs, see Note 1 – Summary of Significant Accounting Principles. The tables in this Note present the assets and liabilities of consolidated and unconsolidated VIEs at December 31, 2020 and 2019 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 December 31, 2020 and 2019 resulting from its involvement with consolidated VIEs and unconsolidated VIEs in which the Corporation holds a variable interest. The Corporation’s maximum loss exposure is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments, such as unfunded liquidity commitments and other contractual arrangements. The Corporation’s maximum loss exposure does not include losses previously recognized through write-downs of assets. The Corporation invests in 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, for example to hold collateral. These securities and loans are included in Note 4 – Securities or Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses. In addition, the Corporation has used VIEs in connection with its funding activities. The Corporation did not provide financial support to consolidated or unconsolidated VIEs during 2020, 2019 and 2018 that it was not previously contractually required to provide, nor does it intend to do so. The Corporation had liquidity commitments, including written put options and collateral value guarantees, with certain unconsolidated VIEs of $929 million and $1.1 billion at December 31, 2020 and 2019. First-lien Mortgage Securitizations 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 residential mortgage-backed securities (RMBS) guaranteed by government-sponsored enterprises, FNMA and FHLMC (collectively the GSEs), or the 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 in Note 12 – Commitments and Contingencies , 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 2020, 2019 and 2018. First-lien Mortgage Securitizations Residential Mortgage - Agency Commercial Mortgage (Dollars in millions) 2020 2019 2018 2020 2019 2018 Proceeds from loan sales (1) $ 15,823 $ 6,858 $ 5,801 $ 5,084 $ 8,661 $ 6,991 Gains on securitizations (2) 728 27 62 61 103 101 Repurchases from securitization trusts (3) 436 881 1,485 — — — (1) The Corporation transfers residential mortgage loans to securitizations sponsored primarily by the GSEs or GNMA in the normal course of business and primarily receives RMBS in exchange. Substantially all of these securities are classified as Level 2 within the fair value hierarchy and are typically sold shortly after receipt. (2) A majority of the first-lien residential 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 $160 million, $64 million and $71 million net of hedges, during 2020, 2019 and 2018, respectively, are not included in the table above. (3) 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. The Corporation may also repurchase loans from securitization trusts to perform modifications. Repurchased loans include FHA-insured mortgages collateralizing GNMA securities. The Corporation recognizes consumer MSRs from the sale or securitization of consumer real estate loans. The unpaid principal balance of loans serviced for investors, including residential mortgage and home equity loans, totaled $160.4 billion and $192.1 billion at December 31, 2020 and 2019. Servicing fee and ancillary fee income on serviced loans was $474 million, $585 million and $710 million during 2020, 2019 and 2018, respectively. Servicing advances on serviced loans, including loans serviced for others and loans held for investment, were $2.2 billion and $2.4 billion at December 31, 2020 and 2019. For more information on MSRs, see Note 20 – Fair Value Measurements . During 2020, the Corporation completed the sale of $9.3 billion of consumer real estate loans through GNMA loan securitizations. As part of the securitizations, the Corporation retained $8.4 billion of MBS, which are classified as debt securities carried at fair value on the Consolidated Balance Sheet. Total gains on loan sales of $704 million were recorded in other income in the Consolidated Statement of Income. The following table summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at December 31, 2020 and 2019. First-lien Mortgage VIEs Residential Mortgage Non-agency Agency Prime Subprime Alt-A Commercial Mortgage December 31 (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Unconsolidated VIEs Maximum loss exposure (1) $ 13,477 $ 12,554 $ 250 $ 340 $ 1,031 $ 1,622 $ 46 $ 98 $ 1,169 $ 1,036 On-balance sheet assets Senior securities: Trading account assets $ 152 $ 627 $ 2 $ 5 $ 8 $ 54 $ 12 $ 24 $ 60 $ 65 Debt securities carried at fair value 7,588 6,392 103 193 676 1,178 33 72 — — Held-to-maturity securities 5,737 5,535 — — — — — — 925 809 All other assets — — 6 2 26 49 1 2 50 38 Total retained positions $ 13,477 $ 12,554 $ 111 $ 200 $ 710 $ 1,281 $ 46 $ 98 $ 1,035 $ 912 Principal balance outstanding (2) $ 133,497 $ 160,226 $ 6,081 $ 7,268 $ 6,691 $ 8,594 $ 16,554 $ 19,878 $ 59,268 $ 60,129 Consolidated VIEs Maximum loss exposure (1) $ 1,328 $ 10,857 $ 66 $ 5 $ 53 $ 44 $ — $ — $ — $ — On-balance sheet assets Trading account assets $ 1,328 $ 780 $ 350 $ 116 $ 260 $ 149 $ — $ — $ — $ — Loans and leases, net — 9,917 — — — — — — — — All other assets — 161 — — — — — — — — Total assets $ 1,328 $ 10,858 $ 350 $ 116 $ 260 $ 149 $ — $ — $ — $ — Total liabilities $ — $ 4 $ 284 $ 111 $ 207 $ 105 $ — $ — $ — $ — (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 reserve for representations and warranties obligations and corporate guarantees and also excludes servicing advances and other servicing rights and obligations. For more information, see Note 12 – Commitments and Contingencies and Note 20 – Fair Value Measurements . (2) Principal balance outstanding includes loans where the Corporation was the transferor to securitization VIEs with which it has continuing involvement, which may include servicing the loans. Other Asset-backed Securitizations The following table summarizes select information related to home equity, credit card and other asset-backed VIEs in which the Corporation held a variable interest at December 31, 2020 and 2019. Home Equity Loan, Credit Card and Other Asset-backed VIEs Home Equity (1) Credit Card (2) Resecuritization Trusts Municipal Bond Trusts December 31 (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Unconsolidated VIEs Maximum loss exposure $ 206 $ 412 $ — $ — $ 8,543 $ 7,526 $ 3,507 $ 3,701 On-balance sheet assets Securities (3) : Trading account assets $ — $ — $ — $ — $ 948 $ 2,188 $ — $ — Debt securities carried at fair value 2 11 — — 2,727 1,126 — — Held-to-maturity securities — — — — 4,868 4,212 — — Total retained positions $ 2 $ 11 $ — $ — $ 8,543 $ 7,526 $ — $ — Total assets of VIEs $ 609 $ 1,023 $ — $ — $ 17,250 $ 21,234 $ 4,042 $ 4,395 Consolidated VIEs Maximum loss exposure $ 58 $ 64 $ 14,606 $ 17,915 $ 217 $ 54 $ 1,030 $ 2,656 On-balance sheet assets Trading account assets $ — $ — $ — $ — $ 217 $ 73 $ 990 $ 2,480 Loans and leases 218 122 21,310 26,985 — — — — Allowance for loan and lease losses 14 (2) (1,704) (800) — — — — All other assets 4 3 1,289 119 — — 40 176 Total assets $ 236 $ 123 $ 20,895 $ 26,304 $ 217 $ 73 $ 1,030 $ 2,656 On-balance sheet liabilities Short-term borrowings $ — $ — $ — $ — $ — $ — $ 432 $ 2,175 Long-term debt 178 64 6,273 8,372 — 19 — — All other liabilities — — 16 17 — — — — Total liabilities $ 178 $ 64 $ 6,289 $ 8,389 $ — $ 19 $ 432 $ 2,175 (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 reserve for representations and warranties obligations and corporate guarantees. For more information, see Note 12 – Commitments and Contingencies . (2) At December 31, 2020 and 2019, loans and leases in the consolidated credit card trust included $7.6 billion and $10.5 billion of seller’s interest. (3) The retained senior securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). Home Equity Loans The Corporation retains interests, primarily senior securities, in home equity securitization trusts to which it transferred home equity loans. In addition, the Corporation may be obligated to provide subordinate funding to the trusts during a rapid amortization event. This obligation is included in the maximum loss exposure in the table above. The charges that will ultimately be recorded as a result of the rapid amortization events depend on the undrawn portion of the HELOCs, performance of the loans, the amount of subsequent draws and the timing of related cash flows. 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 subordinate interests in accrued interest and fees on the securitized receivables and cash reserve accounts. During 2020, 2019 and 2018, the Corporation issued new senior debt securities to third-party investors from the credit card securitization trust of $1.0 billion, $1.3 billion and $4.0 billion, respectively. At December 31, 2020 and 2019, the Corporation held subordinate securities issued by the credit card securitization trust with a notional principal amount of $6.8 billion and $7.4 billion. These securities serve as a form of credit enhancement to the senior debt securities and have a stated interest rate of zero percent. During 2020, 2019 and 2018, the credit card securitization trust issued $161 million, $202 million and $650 million, respectively, of these subordinate securities. Resecuritization Trusts The Corporation transfers securities, typically MBS, into resecuritization VIEs generally at the request of customers seeking securities with specific characteristics. 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 $39.0 billion, $24.4 billion and $22.8 billion of securities during 2020, 2019 and 2018, respectively. Securities transferred into resecuritization VIEs were measured at fair value with changes in fair value recorded in market making and similar activities prior to the resecuritization and, accordingly, no gain or loss on sale was recorded. Securities received from the resecuritization VIEs were recognized at their fair value of $6.1 billion, $5.2 billion and $4.1 billion during 2020, 2019 and 2018, respectively. In 2019 and 2018, substantially all of the securities were classified as trading account assets. All of the securities received as resecuritization proceeds during 2020 were classified as trading account assets. Of the securities received as resecuritizations proceeds during 2020, $2.4 billion, $2.1 billion and $1.7 billion were classified as trading account assets, debt securities carried at fair value and HTM securities, respectively. Substantially all of the trading account securities and debt securities carried at fair value were categorized 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’s liquidity commitments to unconsolidated municipal bond trusts, including those for which the Corporation was transferor, totaled $3.5 billion and $3.7 billion at December 31, 2020 and 2019. The weighted-average remaining life of bonds held in the trusts at December 31, 2020 was 6.8 years. There were no significant write-downs or downgrades of assets or issuers during 2020, 2019 and 2018. Other Variable Interest Entities The table below summarizes select information related to other VIEs in which the Corporation held a variable interest at December 31, 2020 and 2019. Other VIEs Consolidated Unconsolidated Total Consolidated Unconsolidated Total (Dollars in millions) December 31, 2020 December 31, 2019 Maximum loss exposure (1) $ 4,106 $ 23,870 $ 27,976 $ 4,055 $ 21,069 $ 25,124 On-balance sheet assets Trading account assets (1) $ 2,080 $ 623 $ 2,703 $ 2,213 $ 549 $ 2,762 Debt securities carried at fair value (1) — 9 9 — 10 10 Loans and leases (1) 2,108 184 2,292 1,810 533 2,343 Allowance for loan and lease losses (1) (3) (3) (6) (2) — (2) All other assets (1) 54 22,553 22,607 81 19,354 19,435 Total (1) $ 4,239 $ 23,366 $ 27,605 $ 4,102 $ 20,446 $ 24,548 On-balance sheet liabilities Short-term borrowings $ 22 $ — $ 22 $ — $ — $ — Long-term debt 111 — 111 46 — 46 All other liabilities (1) — 5,658 5,658 2 4,896 4,898 Total (1) $ 133 $ 5,658 $ 5,791 $ 48 $ 4,896 $ 4,944 Total assets of VIEs (1) $ 4,239 $ 77,984 $ 82,223 $ 4,102 $ 70,120 $ 74,222 (1) Prior-period amounts have been revised to remove certain entities that are no longer considered VIEs. Customer VIEs Customer VIEs include credit-linked, equity-linked and commodity-linked note VIEs, repackaging VIEs and asset acquisition VIEs, 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’s maximum loss exposure to consolidated and unconsolidated customer VIEs totaled $2.3 billion and $2.2 billion at December 31, 2020 and 2019, 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 VIEs. Collateralized Debt Obligation VIEs The Corporation receives fees for structuring CDO VIEs, which hold diversified pools of fixed-income securities, typically corporate debt or ABS, which the CDO VIEs fund by issuing multiple tranches of debt and equity securities. CDOs are generally 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. The Corporation’s maximum loss exposure to consolidated and unconsolidated CDOs totaled $298 million and $304 million at December 31, 2020 and 2019. Investment VIEs The Corporation sponsors, invests in or provides financing, which may be in connection with the sale of assets, to a variety of investment VIEs 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 December 31, 2020 and 2019, the Corporation’s consolidated investment VIEs had total assets of $494 million and $104 million. The Corporation also held investments in unconsolidated VIEs with total assets of $5.4 billion and $5.1 billion at December 31, 2020 and 2019. The Corporation’s maximum loss exposure associated with both consolidated and unconsolidated investment VIEs totaled $1.5 billion and $1.6 billion at December 31, 2020 and 2019 comprised primarily of on-balance sheet assets less non-recourse liabilities. Leveraged Lease Trusts The Corporation’s net investment in consolidated leveraged lease trusts totaled $1.7 billion at both December 31, 2020 and 2019. 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 VIEs 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 VIE. 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 $22.0 billion and $18.9 billion at December 31, 2020 and 2019. 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 $11.2 billion and $10.0 billion, including unfunded commitments to provide capital contributions of $5.0 billion and $4.3 billion at December 31, 2020 and 2019. The unfunded commitments are expected to be paid over the next five years. During 2020, 2019 and 2018, the Corporation recognized tax credits and other tax

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The table below presents goodwill balances by business segment and All Other at December 31, 2020 and 2019. The reporting units utilized for goodwill impairment testing are the operating segments or one level below . Goodwill December 31 (Dollars in millions) December 31 December 31 Consumer Banking $ 30,123 $ 30,123 Global Wealth & Investment Management 9,677 9,677 Global Banking 23,923 23,923 Global Markets 5,182 5,182 All Other 46 46 Total goodwill $ 68,951 $ 68,951 During 2020, the Corporation completed its annual goodwill impairment test as of June 30, 2020 using a quantitative assessment for all applicable reporting units. Based on the results of the annual goodwill impairment test, the Corporation determined there was no impairment. For more information on the use of quantitative assessments, see Note 1 – Summary of Significant Accounting Principles. Intangible Assets At December 31, 2020 and 2019, the net carrying value of intangible assets was $2.2 billion and $1.7 billion. During 2020, the Corporation recognized a $585 million intangible asset, which is being amortized over a 10-year life, related to the merchant contracts that were distributed to the Corporation from its merchant servicing joint venture. For more information, see Note 12 – Commitments and Contingencies . At both December 31, 2020 and 2019, intangible assets included $1.6 billion of intangible assets associated with trade names, substantially all of which had an indefinite life and, accordingly, are not being amortized. Amortization of intangibles expense was $95 million, $112 million and $538 million for 2020, 2019 and 2018.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses . Lessor Arrangements The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The following table presents the net investment in sales-type and direct financing leases at December 31, 2020 and 2019. Net Investment (1) December 31 (Dollars in millions) 2020 2019 Lease receivables $ 17,627 $ 19,312 Unguaranteed residuals 2,303 2,550 Total net investment in sales-type and direct $ 19,930 $ 21,862 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.9 billion and $5.8 billion at December 31, 2020 and 2019. The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688 Lessee Arrangements The Corporation's lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation's financing leases are not significant. Lease terms may contain renewal and extension options and early termination features. Generally, these options do not impact the lease term because the Corporation is not reasonably certain that it will exercise the options. The following table provides information on the right-of-use assets, lease liabilities and weighted-average discount rates and lease terms at December 31, 2020 and 2019. Lessee Arrangements December 31 (Dollars in millions) 2020 2019 Right-of-use asset $ 10,000 $ 9,735 Lease liabilities 10,474 10,093 Weighted-average discount rate used to calculate present value of future minimum lease payments 3.38 % 3.68 % Weighted-average lease term (in years) 8.4 8.2 Lease Cost and Supplemental Information: Operating lease cost $ 2,149 $ 2,085 Variable lease cost (1) 474 498 Total lease cost (2) $ 2,623 $ 2,583 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 851 $ 931 Operating cash flows from operating leases (4) 2,039 2,009 (1) Primarily consists of payments for common area maintenance and property taxes. (2) Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. (3) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. (4) Represents cash paid for amounts included in the measurements of lease liabilities. Maturity Analysis The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
Leases	Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses . Lessor Arrangements The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The following table presents the net investment in sales-type and direct financing leases at December 31, 2020 and 2019. Net Investment (1) December 31 (Dollars in millions) 2020 2019 Lease receivables $ 17,627 $ 19,312 Unguaranteed residuals 2,303 2,550 Total net investment in sales-type and direct $ 19,930 $ 21,862 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.9 billion and $5.8 billion at December 31, 2020 and 2019. The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688 Lessee Arrangements The Corporation's lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation's financing leases are not significant. Lease terms may contain renewal and extension options and early termination features. Generally, these options do not impact the lease term because the Corporation is not reasonably certain that it will exercise the options. The following table provides information on the right-of-use assets, lease liabilities and weighted-average discount rates and lease terms at December 31, 2020 and 2019. Lessee Arrangements December 31 (Dollars in millions) 2020 2019 Right-of-use asset $ 10,000 $ 9,735 Lease liabilities 10,474 10,093 Weighted-average discount rate used to calculate present value of future minimum lease payments 3.38 % 3.68 % Weighted-average lease term (in years) 8.4 8.2 Lease Cost and Supplemental Information: Operating lease cost $ 2,149 $ 2,085 Variable lease cost (1) 474 498 Total lease cost (2) $ 2,623 $ 2,583 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 851 $ 931 Operating cash flows from operating leases (4) 2,039 2,009 (1) Primarily consists of payments for common area maintenance and property taxes. (2) Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. (3) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. (4) Represents cash paid for amounts included in the measurements of lease liabilities. Maturity Analysis The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
Leases	Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses . Lessor Arrangements The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The following table presents the net investment in sales-type and direct financing leases at December 31, 2020 and 2019. Net Investment (1) December 31 (Dollars in millions) 2020 2019 Lease receivables $ 17,627 $ 19,312 Unguaranteed residuals 2,303 2,550 Total net investment in sales-type and direct $ 19,930 $ 21,862 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.9 billion and $5.8 billion at December 31, 2020 and 2019. The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688 Lessee Arrangements The Corporation's lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation's financing leases are not significant. Lease terms may contain renewal and extension options and early termination features. Generally, these options do not impact the lease term because the Corporation is not reasonably certain that it will exercise the options. The following table provides information on the right-of-use assets, lease liabilities and weighted-average discount rates and lease terms at December 31, 2020 and 2019. Lessee Arrangements December 31 (Dollars in millions) 2020 2019 Right-of-use asset $ 10,000 $ 9,735 Lease liabilities 10,474 10,093 Weighted-average discount rate used to calculate present value of future minimum lease payments 3.38 % 3.68 % Weighted-average lease term (in years) 8.4 8.2 Lease Cost and Supplemental Information: Operating lease cost $ 2,149 $ 2,085 Variable lease cost (1) 474 498 Total lease cost (2) $ 2,623 $ 2,583 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 851 $ 931 Operating cash flows from operating leases (4) 2,039 2,009 (1) Primarily consists of payments for common area maintenance and property taxes. (2) Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. (3) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. (4) Represents cash paid for amounts included in the measurements of lease liabilities. Maturity Analysis The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
Leases	Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses . Lessor Arrangements The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The following table presents the net investment in sales-type and direct financing leases at December 31, 2020 and 2019. Net Investment (1) December 31 (Dollars in millions) 2020 2019 Lease receivables $ 17,627 $ 19,312 Unguaranteed residuals 2,303 2,550 Total net investment in sales-type and direct $ 19,930 $ 21,862 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.9 billion and $5.8 billion at December 31, 2020 and 2019. The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688 Lessee Arrangements The Corporation's lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation's financing leases are not significant. Lease terms may contain renewal and extension options and early termination features. Generally, these options do not impact the lease term because the Corporation is not reasonably certain that it will exercise the options. The following table provides information on the right-of-use assets, lease liabilities and weighted-average discount rates and lease terms at December 31, 2020 and 2019. Lessee Arrangements December 31 (Dollars in millions) 2020 2019 Right-of-use asset $ 10,000 $ 9,735 Lease liabilities 10,474 10,093 Weighted-average discount rate used to calculate present value of future minimum lease payments 3.38 % 3.68 % Weighted-average lease term (in years) 8.4 8.2 Lease Cost and Supplemental Information: Operating lease cost $ 2,149 $ 2,085 Variable lease cost (1) 474 498 Total lease cost (2) $ 2,623 $ 2,583 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 851 $ 931 Operating cash flows from operating leases (4) 2,039 2,009 (1) Primarily consists of payments for common area maintenance and property taxes. (2) Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. (3) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. (4) Represents cash paid for amounts included in the measurements of lease liabilities. Maturity Analysis The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Deposits	Deposits The table below presents information about the Corporation’s time deposits of $100,000 or more at December 31, 2020 and 2019. The Corporation also had aggregate time deposits of $10.7 billion and $15.8 billion in denominations that met or exceeded the Federal Deposit Insurance Corporation (FDIC) insurance limit at December 31, 2020 and 2019. Time Deposits of $100,000 or More December 31, 2020 December 31 (Dollars in millions) Three Months Over Three Thereafter Total Total U.S. certificates of deposit and other time deposits $ 12,485 $ 10,668 $ 1,445 $ 24,598 $ 39,739 Non-U.S. certificates of deposit and other time deposits 8,568 1,925 1,432 11,925 13,034 The scheduled contractual maturities for total time deposits at December 31, 2020 are presented in the table below. Contractual Maturities of Total Time Deposits (Dollars in millions) U.S. Non-U.S. Total Due in 2021 $ 40,052 $ 10,609 $ 50,661 Due in 2022 2,604 167 2,771 Due in 2023 431 4 435 Due in 2024 222 5 227 Due in 2025 186 13 199 Thereafter 276 1,287 1,563 Total time deposits $ 43,771 $ 12,085 $ 55,856

Federal Funds Sold or Purchased

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash	12 Months Ended
	Dec. 31, 2020
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings [Abstract]
Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash	Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash 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 fair value option, see Note 21 – Fair Value Option . Amount Rate Amount Rate (Dollars in millions) 2020 2019 Federal funds sold and securities borrowed or purchased under agreements to resell Average during year $ 309,945 0.29 % $ 279,610 1.73 % Maximum month-end balance during year 451,179 n/a 281,684 n/a Federal funds purchased and securities loaned or sold under agreements to repurchase Average during year $ 192,479 0.69 % $ 201,797 2.31 % Maximum month-end balance during year 206,493 n/a 203,063 n/a Short-term borrowings Average during year 22,486 0.54 24,301 2.42 Maximum month-end balance during year 30,118 n/a 36,538 n/a n/a = not applicable Bank of America, N.A. maintains a global program to offer up to a maximum of $75.0 billion outstanding at any one time, of bank notes with fixed or floating rates and maturities of at least seven days from the date of issue. Short-term bank notes outstanding under this program totaled $3.9 billion and $11.7 billion at December 31, 2020 and 2019. These short-term bank notes, along with Federal Home Loan Bank advances, U.S. Treasury tax and loan notes, and term federal funds purchased, are included in short-term borrowings on the Consolidated Balance Sheet. Offsetting of Securities Financing Agreements The Corporation enters into securities financing agreements to accommodate customers (also referred to as “matched-book transactions”), obtain securities to cover short positions and finance inventory positions. 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 December 31, 2020 and 2019. Balances are presented on a gross basis, prior to the application of counterparty netting. Gross assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements. For more information on the offsetting of derivatives, see Note 3 – Derivatives . Securities Financing Agreements Gross Assets/Liabilities (1) Amounts Offset Net Balance Sheet Amount Financial Instruments (2) Net Assets/Liabilities (Dollars in millions) December 31, 2020 Securities borrowed or purchased under agreements to resell (3) $ 492,387 $ (188,329) $ 304,058 $ (272,351) $ 31,707 Securities loaned or sold under agreements to repurchase $ 358,652 $ (188,329) $ 170,323 $ (158,867) $ 11,456 Other (4) 16,210 — 16,210 (16,210) — Total $ 374,862 $ (188,329) $ 186,533 $ (175,077) $ 11,456 December 31, 2019 Securities borrowed or purchased under agreements to resell (3) $ 434,257 $ (159,660) $ 274,597 $ (244,486) $ 30,111 Securities loaned or sold under agreements to repurchase $ 324,769 $ (159,660) $ 165,109 $ (141,482) $ 23,627 Other (4) 15,346 — 15,346 (15,346) — Total $ 340,115 $ (159,660) $ 180,455 $ (156,828) $ 23,627 (1) Includes activity where uncertainty exists as to the enforceability of certain master netting agreements under bankruptcy laws in some countries or industries. (2) 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 derive a net asset or liability. Securities collateral received or pledged where the legal enforceability of the master netting agreements is uncertain is excluded from the table. (3) Excludes repurchase activity of $14.7 billion and $12.9 billion reported in loans and leases on the Consolidated Balance Sheet at December 31, 2020 and 2019. (4) Balance is reported in accrued expenses and other liabilities on the Consolidated Balance Sheet and 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. Repurchase Agreements and Securities Loaned Transactions Accounted for as Secured Borrowings The following tables 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. Remaining Contractual Maturity Overnight and Continuous 30 Days or Less After 30 Days Through 90 Days Greater than 90 Days (1) Total (Dollars in millions) December 31, 2020 Securities sold under agreements to repurchase $ 158,400 $ 122,448 $ 32,149 $ 22,684 $ 335,681 Securities loaned 19,140 271 1,029 2,531 22,971 Other 16,210 — — — 16,210 Total $ 193,750 $ 122,719 $ 33,178 $ 25,215 $ 374,862 December 31, 2019 Securities sold under agreements to repurchase $ 129,455 $ 122,685 $ 25,322 $ 21,922 $ 299,384 Securities loaned 18,766 3,329 1,241 2,049 25,385 Other 15,346 — — — 15,346 Total $ 163,567 $ 126,014 $ 26,563 $ 23,971 $ 340,115 (1) No agreements have maturities greater than three years. Class of Collateral Pledged Securities Sold Under Agreements to Repurchase Securities Other Total (Dollars in millions) December 31, 2020 U.S. government and agency securities $ 195,167 $ 5 $ — $ 195,172 Corporate securities, trading loans and other 8,633 1,628 1,217 11,478 Equity securities 14,752 21,125 14,931 50,808 Non-U.S. sovereign debt 113,142 213 62 113,417 Mortgage trading loans and ABS 3,987 — — 3,987 Total $ 335,681 $ 22,971 $ 16,210 $ 374,862 December 31, 2019 U.S. government and agency securities $ 173,533 $ 1 $ — $ 173,534 Corporate securities, trading loans and other 10,467 2,014 258 12,739 Equity securities 14,933 20,026 15,024 49,983 Non-U.S. sovereign debt 96,576 3,344 64 99,984 Mortgage trading loans and ABS 3,875 — — 3,875 Total $ 299,384 $ 25,385 $ 15,346 $ 340,115 funding from a diverse group of counterparties, providing a range of securities collateral and pursuing longer durations, when appropriate. Restricted Cash At December 31, 2020 and 2019, the Corporation held restricted cash included within cash and cash equivalents on the Consolidated Balance Sheet of $7.0 billion and $24.4 billion, predominantly related to cash held on deposit with the Federal Reserve Bank and non-U.S. central banks to meet reserve requirements and cash segregated in compliance with securities regulations.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of borrowings having an original maturity of one year or more. The table below presents the balance of long-term debt at December 31, 2020 and 2019, and the related contractual rates and maturity dates as of December 31, 2020. Weighted-average Rate December 31 (Dollars in millions) Interest Rates Maturity Dates 2020 2019 Notes issued by Bank of America Corporation (1) Senior notes: Fixed 3.05 % 0.25 - 8.05 % 2021 - 2051 $ 174,385 $ 140,265 Floating 0.74 0.09 - 4.96 2021 - 2044 16,788 19,552 Senior structured notes 17,033 16,941 Subordinated notes: Fixed 4.89 2.94 - 8.57 2021 - 2045 23,337 21,632 Floating 1.15 0.88 - 1.41 2022 - 2026 799 782 Junior subordinated notes: Fixed 6.71 6.45 - 8.05 2027 - 2066 738 736 Floating 1.03 1.03 2056 1 1 Total notes issued by Bank of America Corporation 233,081 199,909 Notes issued by Bank of America, N.A. Senior notes: Fixed 3.34 3.34 2023 511 508 Floating 0.33 0.28 - 0.49 2021 - 2041 2,323 6,519 Subordinated notes 6.00 6.00 2036 1,883 1,744 Advances from Federal Home Loan Banks: Fixed 0.99 0.01 - 7.72 2021 - 2034 599 112 Floating — 2,500 Securitizations and other BANA VIEs (2) 6,296 8,373 Other 683 402 Total notes issued by Bank of America, N.A. 12,295 20,158 Other debt Structured liabilities 16,792 20,442 Nonbank VIEs (2) 757 347 Other 9 — Total notes issued by nonbank and other entities 17,558 20,789 Total long-term debt $ 262,934 $ 240,856 (1) Includes total loss-absorbing capacity compliant debt. (2) Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet. During 2020, the Corporation issued $56.9 billion of long-term debt consisting of $43.8 billion of notes issued by Bank of America Corporation, $4.8 billion of notes issued by Bank of America, N.A. and $8.3 billion of other debt. During 2019, the Corporation issued $52.5 billion of long-term debt consisting of $29.3 billion of notes issued by Bank of America Corporation, $10.9 billion of notes issued by Bank of America, N.A. and $12.3 billion of other debt. During 2020, the Corporation had total long-term debt maturities and redemptions in the aggregate of $47.1 billion consisting of $22.6 billion for Bank of America Corporation, $11.5 billion for Bank of America, N.A. and $13.0 billion of other debt. During 2019, the Corporation had total long-term debt maturities and redemptions in the aggregate of $50.6 billion consisting of $21.1 billion for Bank of America Corporation, $19.9 billion for Bank of America, N.A. and $9.6 billion of other debt. Bank of America Corporation and Bank of America, N.A. maintain various U.S. and non-U.S. debt programs to offer both senior and subordinated notes. The notes may be denominated in U.S. dollars or foreign currencies. At December 31, 2020 and 2019, the amount of foreign currency-denominated debt translated into U.S. dollars included in total long-term debt was $54.6 billion and $49.6 billion. Foreign currency contracts may be used to convert certain foreign currency-denominated debt into U.S. dollars. At December 31, 2020, long-term debt of consolidated VIEs in the table above included debt from credit card, residential mortgage, home equity and other VIEs of $6.3 billion, $491 million, $178 million and $111 million, respectively. Long-term debt of VIEs is collateralized by the assets of the VIEs. For more information, see Note 6 – Securitizations and Other Variable Interest Entities. The weighted-average effective interest rates for total long-term debt (excluding senior structured notes), total fixed-rate debt and total floating-rate debt were 3.02 percent, 3.29 percent and 0.71 percent, respectively, at December 31, 2020, and 3.26 percent, 3.55 percent and 1.92 percent, respectively, at December 31, 2019. The Corporation’s ALM activities maintain an overall interest rate risk management strategy that incorporates the use of interest rate contracts to manage fluctuations in earnings caused by interest rate volatility. The Corporation’s goal is to manage interest rate sensitivity so that movements in interest rates do not have a significantly adverse effect on earnings and capital. The weighted-average rates are the contractual interest rates on the debt and do not reflect the impacts of derivative transactions. Debt outstanding of $4.8 billion at December 31, 2020 was issued by BofA Finance LLC, a consolidated finance subsidiary of Bank of America Corporation, the parent company, and is fully and unconditionally guaranteed by the parent company. The table below shows the carrying value for aggregate annual contractual maturities of long-term debt as of December 31, 2020. Included in the table are certain structured notes issued by the Corporation that contain provisions whereby the borrowings are redeemable at the option of the holder (put options) at specified dates prior to maturity. Other structured notes have coupon or repayment terms linked to the performance of debt or equity securities, indices, currencies or commodities, and the maturity may be accelerated based on the value of a referenced index or security. In both cases, the Corporation or a subsidiary may be required to settle the obligation for cash or other securities prior to the contractual maturity date. These borrowings are reflected in the table as maturing at their contractual maturity date. Long-term Debt by Maturity (Dollars in millions) 2021 2022 2023 2024 2025 Thereafter Total Bank of America Corporation Senior notes $ 8,888 $ 15,380 $ 23,872 $ 21,407 $ 15,723 $ 105,903 $ 191,173 Senior structured notes 469 2,034 597 190 549 13,194 17,033 Subordinated notes 371 393 — 3,351 5,537 14,484 24,136 Junior subordinated notes — — — — — 739 739 Total Bank of America Corporation 9,728 17,807 24,469 24,948 21,809 134,320 233,081 Bank of America, N.A. Senior notes 1,340 975 511 — — 8 2,834 Subordinated notes — — — — — 1,883 1,883 Advances from Federal Home Loan Banks 502 3 1 — 18 75 599 Securitizations and other Bank VIEs (1) 4,056 1,241 977 — — 22 6,296 Other 112 16 189 — 279 87 683 Total Bank of America, N.A. 6,010 2,235 1,678 — 297 2,075 12,295 Other debt Structured Liabilities 4,613 2,414 2,221 655 859 6,030 16,792 Nonbank VIEs (1) 1 — — — — 756 757 Other — — — — — 9 9 Total other debt 4,614 2,414 2,221 655 859 6,795 17,558 Total long-term debt $ 20,352 $ 22,456 $ 28,368 $ 25,603 $ 22,965 $ 143,190 $ 262,934 (1) Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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. Credit Extension Commitments The Corporation enters into commitments to extend credit such as loan commitments, SBLCs and commercial letters of credit to meet the financing needs of its customers. The following table includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (i.e., syndicated or participated) to other financial institutions. The distributed amounts were $10.5 billion and $10.6 billion at December 31, 2020 and 2019. The carrying value of these commitments at December 31, 2020 and 2019, excluding commitments accounted for under the fair value option, was $1.9 billion and $829 million, which primarily related to the reserve for unfunded lending commitments. The carrying value of these commitments is classified in accrued expenses and other liabilities on the Consolidated Balance Sheet. 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. The table below includes the notional amount of commitments of $4.0 billion and $4.4 billion at December 31, 2020 and 2019 that are accounted for under the fair value option. However, the table excludes cumulative net fair value of $99 million and $90 million at December 31, 2020 and 2019 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 21 – Fair Value Option. Credit Extension Commitments Expire in One Expire After One Expire After Three Years Through Expire After Total (Dollars in millions) December 31, 2020 Notional amount of credit extension commitments Loan commitments (1) $ 109,406 $ 171,887 $ 139,508 $ 16,091 $ 436,892 Home equity lines of credit 710 2,992 8,738 29,892 42,332 Standby letters of credit and financial guarantees (2) 19,962 12,038 2,397 1,257 35,654 Letters of credit (3) 886 197 25 27 1,135 Legally binding commitments 130,964 187,114 150,668 47,267 516,013 Credit card lines (4) 384,955 — — — 384,955 Total credit extension commitments $ 515,919 $ 187,114 $ 150,668 $ 47,267 $ 900,968 December 31, 2019 Notional amount of credit extension commitments Loan commitments (1) $ 97,454 $ 148,000 $ 173,699 $ 24,487 $ 443,640 Home equity lines of credit 1,137 1,948 6,351 34,134 43,570 Standby letters of credit and financial guarantees (2) 21,311 11,512 3,712 408 36,943 Letters of credit (3) 1,156 254 65 25 1,500 Legally binding commitments 121,058 161,714 183,827 59,054 525,653 Credit card lines (4) 376,067 — — — 376,067 Total credit extension commitments $ 497,125 $ 161,714 $ 183,827 $ 59,054 $ 901,720 (1) At December 31, 2020 and 2019, $4.8 billion and $5.1 billion of these loan commitments were held in the form of a security. (2) 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 $25.0 billion and $10.2 billion at December 31, 2020, and $27.9 billion and $8.6 billion at December 31, 2019. Amounts in the table include consumer SBLCs of $500 million and $413 million at December 31, 2020 and 2019. (3) At December 31, 2020 and 2019, included are letters of credit of $1.8 billion and $1.4 billion related to certain liquidity commitments of VIEs. For more information, see Note 6 – Securitizations and Other Variable Interest Entities . (4) Includes business card unused lines of credit. Other Commitments At December 31, 2020 and 2019, the Corporation had commitments to purchase loans (e.g., residential mortgage and commercial real estate) of $93 million and $86 million, which upon settlement will be included in trading account assets, loans or LHFS, and commitments to purchase commercial loans of $645 million and $1.1 billion, which upon settlement will be included in trading account assets. At December 31, 2020 and 2019, the Corporation had commitments to purchase commodities, primarily liquefied natural gas, of $582 million and $830 million, which upon settlement will be included in trading account assets. At December 31, 2020 and 2019, the Corporation had commitments to enter into resale and forward-dated resale and securities borrowing agreements of $66.5 billion and $97.2 billion, and commitments to enter into forward-dated repurchase and securities lending agreements of $32.1 billion and $24.9 billion. These commitments generally expire within the next 12 months. At December 31, 2020 and 2019, the Corporation had a commitment to originate or purchase up to $3.9 billion and $3.3 billion on a rolling 12-month basis, of auto loans and leases from a strategic partner. This commitment extends through November 2022 and can be terminated with 12 months prior notice. 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. At December 31, 2020 and 2019, the notional amount of these guarantees totaled $7.1 billion and $7.3 billion. At both December 31, 2020 and 2019, the Corporation’s maximum exposure related to these guarantees totaled $1.1 billion, with estimated maturity dates between 2033 and 2039. Indemnifications In the ordinary course of business, the Corporation enters into various agreements that contain indemnifications, such as tax indemnifications, whereupon payment may become due if certain external events occur, such as a change in tax law. The indemnification clauses are often standard contractual terms and were entered into in the normal course of business based on an assessment that the risk of loss would be remote. These agreements typically contain an early termination clause that permits the Corporation to exit the agreement upon these events. The maximum potential future payment under indemnification agreements is difficult to assess for several reasons, including the occurrence of an external event, the inability to predict future changes in tax and other laws, the difficulty in determining how such laws would apply to parties in contracts, the absence of exposure limits contained in standard contract language and the timing of any early termination clauses. Historically, any payments made under these guarantees have been de minimis. The Corporation has assessed the probability of making such payments in the future as remote. Merchant Services Prior to July 1, 2020, a significant portion of the Corporation's merchant processing activity was performed by a joint venture in which the Corporation held a 49 percent ownership interest. On July 29, 2019, the Corporation gave notice to the joint venture partner of the termination of the joint venture upon the conclusion of its current term on June 30, 2020. Effective July 1, 2020, the Corporation received its share of the joint venture's merchant contracts and began performing merchant processing services for these merchants. While merchants bear responsibility for any credit or debit card charges properly reversed by the cardholder, the Corporation, in its role as merchant acquirer, may be held liable for any reversed charges that cannot be collected from the merchants due to, among other things, merchant fraud or insolvency. The Corporation, as a card network member bank, also sponsors other merchant acquirers, principally its former joint venture partner with respect to merchant contracts distributed to that partner upon the termination of the joint venture. If charges are properly reversed after a purchase and cannot be collected from either the merchants or merchant acquirers, the Corporation may be held liable for these reversed charges. The ability to reverse a charge is primarily governed by the applicable regulatory and card network rules, which include, but are not limited to, the type of charge, type of payment used and time limits. For the six-months ended December 31, 2020, the Corporation processed an aggregate purchase volume of $339.2 billion. The Corporation’s risk in this area primarily relates to circumstances where a cardholder has purchased goods or services for future delivery. The Corporation mitigates this risk by requiring cash deposits, guarantees, letters of credit or other types of collateral from certain merchants. The Corporation’s reserves for contingent losses and the losses incurred related to the merchant processing activity were not significant. The Corporation continues to monitor its exposure in this area due to the potential economic impacts of COVID-19. Exchange and Clearing House Member Guarantees The Corporation is a member of various securities and derivative exchanges and clearinghouses, both in the U.S. and other countries. As a member, the Corporation may be required to pay a pro-rata share of the losses incurred by some of these organizations as a result of another member default and under other loss scenarios. The Corporation’s potential obligations may be limited to its membership interests in such exchanges and clearinghouses, to the amount (or multiple) of the Corporation’s contribution to the guarantee fund or, in limited instances, to the full pro-rata share of the residual losses after applying the guarantee fund. The Corporation’s maximum potential exposure under these membership agreements is difficult to estimate; however, the Corporation has assessed the probability of making any such payments as remote. Prime Brokerage and Securities Clearing Services In connection with its prime brokerage and clearing businesses, the Corporation performs securities clearance and settlement services with other brokerage firms and clearinghouses on behalf of its clients. Under these arrangements, the Corporation stands ready to meet the obligations of its clients with respect to securities transactions. The Corporation’s obligations in this respect are secured by the assets in the clients’ accounts and the accounts of their customers as well as by any proceeds received from the transactions cleared and settled by the Corporation on behalf of clients or their customers. The Corporation’s maximum potential exposure under these arrangements is difficult to estimate; however, the potential for the Corporation to incur material losses pursuant to these arrangements is remote. Fixed Income Clearing Corporation Sponsored Member Repo Program The Corporation acts as a sponsoring member in a repo program whereby the Corporation clears certain eligible resale and repurchase agreements through the Government Securities Division of the Fixed Income Clearing Corporation on behalf of clients that are sponsored members in accordance with the Fixed Income Clearing Corporation’s rules. As part of this program, the Corporation guarantees the payment and performance of its sponsored members to the Fixed Income Clearing Corporation. The Corporation’s guarantee obligation is secured by a security interest in cash or high-quality securities collateral placed by clients with the clearinghouse and therefore, the potential for the Corporation to incur significant losses under this arrangement is remote. The Corporation’s maximum potential exposure, without taking into consideration the related collateral, was $22.5 billion and $9.3 billion at December 31, 2020 and 2019. 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 payments under these agreements are approximately $8.8 billion and $8.7 billion at December 31, 2020 and 2019. The estimated maturity dates of these obligations extend up to 2049. The Corporation has made no material payments under these guarantees. For more information on maximum potential future payments under VIE-related liquidity commitments, see Note 6 – Securitizations and Other Variable Interest Entities . 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. Guarantees of Certain Long-term Debt The Corporation, as the parent company, fully and unconditionally guarantees the securities issued by BofA Finance LLC, a consolidated finance subsidiary of the Corporation, and effectively provides for the full and unconditional guarantee of trust securities issued by certain statutory trust companies that are 100 percent owned finance subsidiaries of the Corporation. Representations and Warranties Obligations and Corporate Guarantees 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 make and have made various representations and warranties. 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 indemnification or other remedies to sponsors, investors, securitization trusts, guarantors, insurers or other parties (collectively, repurchases). 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 or mortgage guarantee payments. The notional amount of unresolved repurchase claims at December 31, 2020 and 2019 was $8.5 billion and $10.7 billion. These balances included $2.9 billion and $3.7 billion at December 31, 2020 and 2019 of claims related to loans in specific private-label securitization groups or tranches where the Corporation owns substantially all of the outstanding securities or will otherwise realize the benefit of any repurchase claims paid. During 2020, the Corporation received $89 million in new repurchase claims that were not time-barred. During 2020, $2.4 billion in claims were resolved, including $168 million of claims that were deemed time-barred. Reserve and Related Provision The reserve for representations and warranties obligations and corporate guarantees was $1.3 billion and $1.8 billion at December 31, 2020 and 2019 and is included in accrued expenses and other liabilities on the Consolidated Balance Sheet and the related provision is included in other income in the Consolidated Statement of Income. The representations and warranties reserve represents the Corporation’s best estimate of probable incurred losses, is based on its experience in previous negotiations, and is subject to judgment, a variety of assumptions, and known or unknown uncertainties. Future representations and warranties losses may occur in excess of the amounts recorded for these exposures; however, the Corporation does not expect such amounts to be material to the Corporation's financial condition and liquidity. See Litigation and Regulatory Matters below for the Corporation's combined range of possible loss in excess of the reserve for representations and warranties and the accrued liability for litigation. Litigation and Regulatory Matters 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 the eventual outcome of the pending matters, timing of the ultimate resolution of these matters, or eventual loss, fines or penalties related to each pending matter. As a matter develops, the Corporation, in conjunction with any outside counsel handling the matter, evaluates whether such matter presents a loss contingency that is probable and estimable, and, for the matters disclosed in this Note, whether a loss in excess of any accrued liability is reasonably possible in future periods. 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 $823 million and $681 million was recognized in 2020 and 2019. For the matters disclosed in this Note for which a loss in future periods is reasonably possible and estimable (whether in excess of an accrued liability or where there is no accrued liability) and for representations and warranties exposures, the Corporation’s estimated range of possible loss is $0 to $1.3 billion in excess of the accrued liability, if any, as of December 31, 2020. The accrued liability and estimated range of possible loss are based upon currently available information and subject to significant judgment, a variety of assumptions and known and unknown uncertainties. The matters underlying the accrued liability and estimated range of possible loss are unpredictable and may change from time to time, and actual losses may vary significantly from the current estimate and accrual. The estimated range of possible loss does not represent the Corporation’s maximum loss exposure. Information is provided below regarding the nature of the litigation and associated claimed damages. Based on current knowledge, and taking into account accrued liabilities, management does not believe that loss contingencies arising from pending matters, including the matters described herein, will have a material adverse effect on the consolidated financial condition or liquidity of the Corporation. However, in light of the significant judgment, variety of assumptions and 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 business or results of operations for any particular reporting period, or cause significant reputational harm. Ambac Bond Insurance Litigation Ambac Assurance Corporation and the Segregated Account of Ambac Assurance Corporation (together, Ambac) have filed four separate lawsuits against the Corporation and its subsidiaries relating to bond insurance policies Ambac provided on certain securitized pools of HELOCs, first-lien subprime home equity loans, fixed-rate second-lien mortgage loans and negative amortization pay option adjustable-rate mortgage loans. Ambac alleges that they have paid or will pay claims as a result of defaults in the underlying loans and asserts that the defendants misrepresented the characteristics of the underlying loans and/or breached certain contractual representations and warranties regarding the underwriting and servicing of the loans. In those actions where the Corporation is named as a defendant, Ambac contends the Corporation is liable on various successor and vicarious liability theories. These actions are at various procedural stages with material developments provided below. Ambac v. Countrywide I The Corporation, and several Countrywide entities are named as defendants in an action filed on September 28, 2010 in New York Supreme Court. Ambac asserts claims for fraudulent inducement as well as breach of contract and seeks damages in excess of $2.2 billion, plus punitive damages. On May 16, 2017, the First Department issued its decisions on the parties' cross-appeals of the trial court's October 22, 2015 summary judgment rulings. Ambac appealed the First Department's rulings requiring Ambac to prove all of the elements of its fraudulent inducement claim, including justifiable reliance and loss causation; restricting Ambac's sole remedy for its breach of contract claims to the repurchase protocol of cure, repurchase or substitution of any materially defective loan; and dismissing Ambac's claim for reimbursements of attorneys' fees. On June 27, 2018, the New York Court of Appeals affirmed the First Department rulings that Ambac appealed. On December 4, 2020, the New York Supreme Court dismissed Ambac’s fraudulent inducement claim. Ambac appealed the dismissal. Ambac v. Countrywide II On December 30, 2014, Ambac filed a complaint in New York Supreme Court against the same defendants, claiming fraudulent inducement against Countrywide, and successor and vicarious liability against the Corporation. Ambac seeks damages in excess of $600 million, plus punitive damages. Ambac v. Countrywide IV On July 21, 2015, Ambac filed an action in New York Supreme Court against Countrywide asserting the same claims for fraudulent inducement that Ambac asserted in the now-dismissed Ambac v. Countrywide III. The complaint seeks damages in excess of $350 million, plus punitive damages. On December 8, 2020, the New York Supreme Court dismissed Ambac’s complaint. Ambac appealed the dismissal. Ambac v. First Franklin On April 16, 2012, Ambac filed an action against BANA, First Franklin and various Merrill Lynch entities, including Merrill Lynch, Pierce, Fenner & Smith Incorporated, in New York Supreme Court relating to guaranty insurance Ambac provided on a First Franklin securitization sponsored by Merrill Lynch. The complaint alleges fraudulent inducement and breach of contract, including breach of contract claims against BANA based upon its servicing of the loans in the securitization. Ambac seeks as damages hundreds of millions of dollars that Ambac alleges it has paid or will pay in claims. Deposit Insurance Assessment On January 9, 2017, the FDIC filed suit against BANA in the U.S. District Court for the District of Columbia alleging failure to pay a December 15, 2016 invoice for additional deposit insurance assessments and interest in the amount of $542 million for the quarters ending June 30, 2013 through December 31, 2014. On April 7, 2017, the FDIC amended its complaint to add a claim for additional deposit insurance and interest in the amount of $583 million for the quarters ending March 31, 2012 through March 31, 2013. The FDIC asserts these claims based on BANA’s alleged underreporting of counterparty exposures that resulted in underpayment of assessments for those quarters and its Enforcement Section is also conducting a parallel investigation related to the same alleged reporting error. BANA disagrees with the FDIC’s interpretation of the regulations as they existed during the relevant time period and is defending itself against the FDIC’s claims. Pending final resolution, BANA has pledged security satisfactory to the FDIC related to the disputed additional assessment amounts. On March 27, 2018, the U.S. District Court for the District of Columbia denied BANA’s partial motion to dismiss certain of the FDIC’s claims. LIBOR, Other Reference Rates, Foreign Exchange (FX) and Bond Trading Matters Government authorities in the U.S. and various international jurisdictions continue to conduct investigations of, to make inquiries of, and to pursue proceedings against, the Corporation and its subsidiaries regarding FX and other reference rates as well as government, sovereign, supranational and agency bonds in connection with conduct and systems and controls. The Corporation is cooperating with these inquiries and investigations, and responding to the proceedings. LIBOR The Corporation, BANA and certain Merrill Lynch entities have been named as defendants along with most of the other LIBOR panel banks in a number of individual and putative class actions by persons alleging they sustained losses on U.S. dollar LIBOR-based financial instruments as a result of collusion or manipulation by defendants regarding the setting of U.S. dollar LIBOR. Plaintiffs assert a variety of claims, including antitrust, Commodity Exchange Act, Racketeer Influenced and Corrupt Organizations (RICO), Securities Exchange Act of 1934, common law fraud and breach of contract claims, and seek compensatory, treble and punitive damages, and injunctive relief. All but one of the cases naming the Corporation and its affiliates relating to U.S. dollar LIBOR are pending in the U.S. District Court for the Southern District of New York. The District Court has dismissed all RICO claims, and dismissed all manipulation claims against Bank of America entities based on alleged trader conduct. The District Court has also substantially limited the scope of antitrust, Commodity Exchange Act and various other claims, including by dismissing in their entirety certain individual and putative class plaintiffs’ antitrust claims for lack of standing and/or personal jurisdiction. Plaintiffs whose antitrust claims were dismissed by the District Court are pursuing appeals in the Second Circuit. Certain individual and putative class actions remain pending against the Corporation, BANA and certain Merrill Lynch entities. On February 28, 2018, the District Court granted certification of a class of persons that purchased OTC swaps and notes that referenced U.S. dollar LIBOR from one of the U.S. dollar LIBOR panel banks, limited to claims under Section 1 of the Sherman Act. The U.S. Court of Appeals for the Second Circuit subsequently denied a petition filed by the defendants for interlocutory appeal of that ruling. U.S. Bank - Harborview and SURF/OWNIT Repurchase Litigation Beginning in 2011, U.S. Bank, National Association (U.S. Bank), as trustee for the HarborView Mortgage Loan Trust 2005-10 and various SURF/OWNIT RMBS trusts filed complaints against the Corporation, Countrywide entities, Merrill Lynch entities and other affiliates in New York Supreme Court alleging breaches of representations and warranties. The defendants and certain certificate-holders in the trusts agreed to settle the respective matters in amounts not material to the Corporation, subject to acceptance by U.S. Bank. The litigations have been stayed pending finalization of the settlements.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Common Stock Declared Quarterly Cash Dividends on Common Stock (1) Declaration Date Record Date Payment Date Dividend Per Share January 19, 2021 March 5, 2021 March 26, 2021 $ 0.18 October 21, 2020 December 4, 2020 December 24, 2020 0.18 July 22, 2020 September 4, 2020 September 25, 2020 0.18 April 22, 2020 June 5, 2020 June 26, 2020 0.18 January 29, 2020 March 6, 2020 March 27, 2020 0.18 (1) In 2020, and through February 24, 2021. The cash dividends paid per share of common stock were $0.72 $0.66 and $0.54 for 2020, 2019 and 2018, respectively. The following table summarizes common stock repurchases during 2020, 2019 and 2018. Common Stock Repurchase Summary (in millions) 2020 2019 2018 Total share repurchases, including CCAR 227 956 676 Purchase price of shares repurchased CCAR capital plan repurchases $ 7,025 $ 25,644 $ 16,754 Other authorized repurchases — 2,500 3,340 Total shares repurchased $ 7,025 $ 28,144 $ 20,094 During 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced that due to economic uncertainty resulting from COVID-19, all large banks would be required to suspend share repurchase programs in the third and fourth quarters of 2020, except for repurchases to offset shares awarded under equity-based compensation plans, and to limit dividends to existing rates that do not exceed the average of the last four quarters’ net income. The Federal Reserve’s directives regarding share repurchases aligned with the Corporation's decision to voluntarily suspend repurchases during the first half of 2020. The suspension of the Corporation's repurchases did not include repurchases to offset shares awarded under its equity-based compensation plans. During 2020, the Corporation repurchased and retired 227 million shares of common stock, which reduced shareholders’ equity by $7.0 billion. During 2020, in connection with employee stock plans, the Corporation issued 66 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 26 million shares of its common stock. At December 31, 2020, the Corporation had reserved 513 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock. Preferred Stock The cash dividends declared on preferred stock were $1.4 billion, $1.4 billion and $1.5 billion for 2020, 2019 and 2018, respectively. On January 24, 2020, the Corporation issued 44,000 shares of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM for $1.1 billion. Dividends are paid semi-annually during the fixed-rate period, then quarterly during the floating-rate period. The Series MM preferred stock has a liquidation preference of $25,000 per share and is subject to certain restrictions in the event the Corporation fails to declare and pay full dividends. On October 29, 2020, the Corporation issued 44,000 shares of 4.375% Non-Cumulative Preferred Stock, Series NN for $1.1 billion, with quarterly dividend payments commencing in February 2021. The Series NN preferred stock has a liquidation preference of $25,000 per share and is subject to certain restrictions in the event the Corporation fails to declare and pay full dividends. On January 28, 2021, the Corporation issued 36,000 shares of 4.125% Non-Cumulative Preferred Stock, Series PP for $915 million, with quarterly dividends commencing in May 2021. The Series PP preferred stock has a liquidation preference of $25,000 per share and is subject to certain restrictions in the event the Corporation fails to declare and pay full dividends. In 2020, the Corporation fully redeemed Series Y preferred stock for $1.1 billion. Additionally, on January 29, 2021, the Corporation fully redeemed Series CC preferred stock for $1.1 billion. All series of preferred stock in the Preferred Stock Summary table have a par value of $0.01 per share, are not subject to the operation of a sinking fund, have no participation rights, and with the exception of the Series L Preferred Stock, are not convertible. The holders of the Series B Preferred Stock and Series 1 through 5 Preferred Stock have general voting rights and vote together with the common stock. The holders of the other series included in the table have no general voting rights. All outstanding series of preferred stock of the Corporation have preference over the Corporation’s common stock with respect to the payment of dividends and distribution of the Corporation’s assets in the event of a liquidation or dissolution. With the exception of the Series B, F, G and T Preferred Stock, if any dividend payable on these series is in arrears for three or more semi-annual or six or more quarterly dividend periods, as applicable (whether consecutive or not), the holders of these series and any other class or series of preferred stock ranking equally as to payment of dividends and upon which equivalent voting rights have been conferred and are exercisable (voting as a single class) will be entitled to vote for the election of two additional directors. These voting rights terminate when the Corporation has paid in full dividends on these series for at least two semi-annual or four quarterly dividend periods, as applicable, following the dividend arrearage. The 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (Series L Preferred Stock) does not have early redemption/call rights. Each share of the Series L Preferred Stock may be converted at any time, at the option of the holder, into 20 shares of the Corporation’s common stock plus cash in lieu of fractional shares. The Corporation may cause some or all of the Series L Preferred Stock, at its option, at any time or from time to time, to be converted into shares of common stock at the then-applicable conversion rate if, for 20 trading days during any period of 30 consecutive trading days, the closing price of common stock exceeds 130 percent of the then-applicable conversion price of the Series L Preferred Stock. If a conversion of Series L Preferred Stock occurs at the option of the holder, subsequent to a dividend record date but prior to the dividend payment date, the Corporation will still pay any accrued dividends payable. The table below presents a summary of perpetual preferred stock outstanding at December 31, 2020. Preferred Stock Summary (Dollars in millions, except as noted) Series Description Initial Total Liquidation Carrying Per Annum Dividend per Share Annual Dividend Redemption Period (1) Series B 7% Cumulative Redeemable June 7,110 $ 100 $ 1 7.00 % $ 7 $ — n/a Series E (2) Floating Rate Non-Cumulative November 12,691 25,000 317 3-mo. LIBOR + 35 bps (3) 1.02 13 On or after Series F Floating Rate Non-Cumulative March 1,409 100,000 141 3-mo. LIBOR + 40 bps (3) 4,066.67 6 On or after Series G Adjustable Rate Non-Cumulative March 4,926 100,000 493 3-mo. LIBOR + 40 bps (3) 4,066.67 20 On or after Series L 7.25% Non-Cumulative Perpetual Convertible January 3,080,182 1,000 3,080 7.25 % 72.50 223 n/a Series T 6% Non-cumulative September 354 100,000 35 6.00 % 6,000.00 2 After May 7, 2019 Series U (4) Fixed-to-Floating Rate Non-Cumulative May 40,000 25,000 1,000 5.2% to, but excluding, 6/1/23; 3-mo. LIBOR + 313.5 bps thereafter 52.00 52 On or after Series X (4) Fixed-to-Floating Rate Non-Cumulative September 80,000 25,000 2,000 6.250% to, but excluding, 9/5/24; 3-mo. LIBOR + 370.5 bps thereafter 62.50 125 On or after Series Z (4) Fixed-to-Floating Rate Non-Cumulative October 56,000 25,000 1,400 6.500% to, but excluding, 10/23/24; 3-mo. LIBOR + 417.4 bps thereafter 65.00 91 On or after Series AA (4) Fixed-to-Floating Rate Non-Cumulative March 76,000 25,000 1,900 6.100% to, but excluding, 3/17/25; 3-mo. LIBOR + 389.8 bps thereafter 61.00 116 On or after Series CC (2) 6.200% Non-Cumulative January 44,000 25,000 1,100 6.200 % 1.55 68 On or after Series DD (4) Fixed-to-Floating Rate Non-Cumulative March 40,000 25,000 1,000 6.300% to, but excluding, 3/10/26; 3-mo. LIBOR + 455.3 bps thereafter 63.00 63 On or after Series EE (2) 6.000% Non-Cumulative April 36,000 25,000 900 6.000 % 1.50 54 On or after Series FF (4) Fixed-to-Floating Rate Non-Cumulative March 94,000 25,000 2,350 5.875% to, but excluding, 3/15/28; 3-mo. LIBOR + 293.1 bps thereafter 58.75 138 On or after Series GG (2) 6.000% Non-Cumulative May 54,000 25,000 1,350 6.000 % 1.50 81 On or after Series HH (2) 5.875% Non-Cumulative July 34,160 25,000 854 5.875 % 1.47 50 On or after Series JJ (4) Fixed-to-Floating Rate Non-Cumulative June 40,000 25,000 1,000 5.125% to, but excluding, 6/20/24; 3-mo. LIBOR + 329.2 bps thereafter 51.25 51 On or after Series KK (2) 5.375% Non-Cumulative June 55,900 25,000 1,398 5.375 % 1.34 75 On or after Series LL (2) 5.000% Non-Cumulative September 52,400 25,000 1,310 5.000 % 1.25 66 On or after Series MM (4) Fixed-to-Floating Rate Non-Cumulative January 44,000 25,000 1,100 4.300 % 43.48 48 On or after Series NN (2) 4.375% Non-Cumulative October 44,000 25,000 1,100 4.375 % 0.29 13 On or after Series 1 (5) Floating Rate Non-Cumulative November 3,275 30,000 98 3-mo. LIBOR + 75 bps (6) 0.75 3 On or after Series 2 (5) Floating Rate Non-Cumulative March 9,967 30,000 299 3-mo. LIBOR + 65 bps (6) 0.76 10 On or after Series 4 (5) Floating Rate Non-Cumulative November 7,010 30,000 210 3-mo. LIBOR + 75 bps (3) 1.02 9 On or after Series 5 (5) Floating Rate Non-Cumulative March 14,056 30,000 422 3-mo. LIBOR + 50 bps (3) 1.02 17 On or after Issuance costs and certain adjustments (348) Total 3,931,440 $ 24,510 (1) The Corporation may redeem series of preferred stock on or after the redemption date, in whole or in part, at its option, at the liquidation preference plus declared and unpaid dividends. Series B and Series L Preferred Stock do not have early redemption/call rights. (2) Ownership is held in the form of depositary shares, each representing a 1/1,000th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared. (3) Subject to 4.00% minimum rate per annum. (4) Ownership is held in the form of depositary shares, each representing a 1/25th interest in a share of preferred stock, paying a semi-annual cash dividend, if and when declared, until the first redemption date at which time, it adjusts to a quarterly cash dividend, if and when declared, thereafter. (5) Ownership is held in the form of depositary shares, each representing a 1/1,200th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared. (6) Subject to 3.00% minimum rate per annum. n/a = not applicable

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The table below presents the changes in accumulated OCI after-tax for 2020, 2019 and 2018. (Dollars in millions) Debt Securities Debit Valuation Adjustments Derivatives Employee Foreign Total Balance, December 31, 2017 $ (1,206) $ (1,060) $ (831) $ (3,192) $ (793) $ (7,082) Accounting change related to certain tax effects (393) (220) (189) (707) 239 (1,270) Cumulative adjustment for hedge accounting change — — 57 — — 57 Net change (3,953) 749 (53) (405) (254) (3,916) Balance, December 31, 2018 $ (5,552) $ (531) $ (1,016) $ (4,304) $ (808) $ (12,211) Net change 5,875 (963) 616 136 (86) 5,578 Balance, December 31, 2019 $ 323 $ (1,494) $ (400) $ (4,168) $ (894) $ (6,633) Net change 4,799 (498) 826 (98) (52) 4,977 Balance, December 31, 2020 $ 5,122 $ (1,992) $ 426 $ (4,266) $ (946) $ (1,656) 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 pre- and after-tax for 2020, 2019 and 2018. Pretax Tax After- Pretax Tax After- Pretax Tax effect After- (Dollars in millions) 2020 2019 2018 Debt securities: Net increase (decrease) in fair value $ 6,819 $ (1,712) $ 5,107 $ 8,020 $ (2,000) $ 6,020 $ (5,189) $ 1,329 $ (3,860) Net realized (gains) reclassified into earnings (1) (411) 103 (308) (193) 48 (145) (123) 30 (93) Net change 6,408 (1,609) 4,799 7,827 (1,952) 5,875 (5,312) 1,359 (3,953) Debit valuation adjustments: Net increase (decrease) in fair value (669) 156 (513) (1,276) 289 (987) 952 (224) 728 Net realized losses reclassified into earnings (1) 19 (4) 15 18 6 24 26 (5) 21 Net change (650) 152 (498) (1,258) 295 (963) 978 (229) 749 Derivatives: Net increase (decrease) in fair value 1,098 (268) 830 692 (156) 536 (232) 74 (158) Reclassifications into earnings: Net interest income 6 (1) 5 104 (26) 78 165 (40) 125 Compensation and benefits expense (12) 3 (9) 2 — 2 (27) 7 (20) Net realized (gains) losses reclassified into earnings (6) 2 (4) 106 (26) 80 138 (33) 105 Net change 1,092 (266) 826 798 (182) 616 (94) 41 (53) Employee benefit plans: Net increase (decrease) in fair value (381) 80 (301) 41 (21) 20 (703) 164 (539) Net actuarial losses and other reclassified into earnings (2) 261 (63) 198 150 (36) 114 171 (46) 125 Settlements, curtailments and other 5 — 5 3 (1) 2 11 (2) 9 Net change (115) 17 (98) 194 (58) 136 (521) 116 (405) Foreign currency: Net (decrease) in fair value (251) 199 (52) (13) (52) (65) (8) (195) (203) Net realized (gains) reclassified into earnings (1) (1) 1 — (110) 89 (21) (149) 98 (51) Net change (252) 200 (52) (123) 37 (86) (157) (97) (254) Total other comprehensive income (loss) $ 6,483 $ (1,506) $ 4,977 $ 7,438 $ (1,860) $ 5,578 $ (5,106) $ 1,190 $ (3,916) (1) Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income. (2) Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The calculation of EPS and diluted EPS for 2020, 2019 and 2018 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles . (In millions, except per share information) 2020 2019 2018 Earnings per common share Net income $ 17,894 $ 27,430 $ 28,147 Preferred stock dividends (1,421) (1,432) (1,451) Net income applicable to common shareholders $ 16,473 $ 25,998 $ 26,696 Average common shares issued and outstanding 8,753.2 9,390.5 10,096.5 Earnings per common share $ 1.88 $ 2.77 $ 2.64 Diluted earnings per common share Net income applicable to common shareholders $ 16,473 $ 25,998 $ 26,696 Average common shares issued and outstanding 8,753.2 9,390.5 10,096.5 Dilutive potential common shares (1) 43.7 52.4 140.4 Total diluted average common shares issued and outstanding 8,796.9 9,442.9 10,236.9 Diluted earnings per common share $ 1.87 $ 2.75 $ 2.61 (1) Includes incremental dilutive shares from RSUs, restricted stock and warrants.

Regulatory Requirements and Res

Regulatory Requirements and Restrictions	12 Months Ended
	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Regulatory Requirements and Restrictions	Regulatory Requirements and Restrictions the Federal Reserve. The Corporation’s banking entity affiliates are subject to capital adequacy rules issued by the OCC. The Corporation and its primary banking entity affiliate, BANA, are Advanced approaches institutions under Basel 3. As Advanced approaches institutions, the Corporation and its banking entity affiliates are required to report regulatory risk-based capital ratios and risk-weighted assets under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy, including under the Prompt Corrective Action (PCA) framework. The Corporation is required to maintain a minimum supplementary leverage ratio (SLR) of 3.0 percent plus a leverage buffer of 2.0 percent in order to avoid certain restrictions on capital distributions and discretionary bonus payments. The Corporation’s insured depository institution subsidiaries are required to maintain a minimum 6.0 percent SLR to be considered well capitalized under the PCA framework. The following table presents capital ratios and related information in accordance with Basel 3 Standardized and Advanced approaches as measured at December 31, 2020 and 2019 for the Corporation and BANA. Regulatory Capital under Basel 3 Bank of America Corporation Bank of America, N.A. Standardized Approach (1, 2) Advanced Approaches (1) Regulatory Minimum (3) Standardized Approach (1, 2) Advanced Approaches (1) Regulatory Minimum (4) (Dollars in millions, except as noted) December 31, 2020 Risk-based capital metrics: Common equity tier 1 capital $ 176,660 $ 176,660 $ 164,593 $ 164,593 Tier 1 capital 200,096 200,096 164,593 164,593 Total capital (5) 237,936 227,685 181,370 170,922 Risk-weighted assets (in billions) 1,480 1,371 1,221 1,014 Common equity tier 1 capital ratio 11.9 % 12.9 % 9.5 % 13.5 % 16.2 % 7.0 % Tier 1 capital ratio 13.5 14.6 11.0 13.5 16.2 8.5 Total capital ratio 16.1 16.6 13.0 14.9 16.9 10.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (6) $ 2,719 $ 2,719 $ 2,143 $ 2,143 Tier 1 leverage ratio 7.4 % 7.4 % 4.0 7.7 % 7.7 % 5.0 Supplementary leverage exposure (in billions) (7) $ 2,786 $ 2,525 Supplementary leverage ratio 7.2 % 5.0 6.5 % 6.0 December 31, 2019 Risk-based capital metrics: Common equity tier 1 capital $ 166,760 $ 166,760 $ 154,626 $ 154,626 Tier 1 capital 188,492 188,492 154,626 154,626 Total capital (5) 221,230 213,098 166,567 158,665 Risk-weighted assets (in billions) 1,493 1,447 1,241 991 Common equity tier 1 capital ratio 11.2 % 11.5 % 9.5 % 12.5 % 15.6 % 7.0 % Tier 1 capital ratio 12.6 13.0 11.0 12.5 15.6 8.5 Total capital ratio 14.8 14.7 13.0 13.4 16.0 10.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (6) $ 2,374 $ 2,374 $ 1,780 $ 1,780 Tier 1 leverage ratio 7.9 % 7.9 % 4.0 8.7 % 8.7 % 5.0 Supplementary leverage exposure (in billions) $ 2,946 $ 2,177 Supplementary leverage ratio 6.4 % 5.0 7.1 % 6.0 (1) As of December 31, 2020, capital ratios are calculated using the regulatory capital rule that allows a five-year transition period related to the adoption of CECL. (2) Derivative exposure amounts are calculated using the standardized approach for measuring counterparty credit risk at December 31, 2020 and the current exposure method at December 31, 2019. (3) The capital conservation buffer and global systemically important bank surcharge were 2.5 percent at both December 31, 2020 and 2019. At December 31, 2020, the Corporation's stress capital buffer of 2.5 percent was applied in place of the capital conservation buffer under the Standardized approach. The countercyclical capital buffer for both periods was zero. The SLR minimum includes a leverage buffer of 2.0 percent. (4) Risk-based capital regulatory minimums at December 31, 2020 and 2019 are the minimum ratios under Basel 3, including a capital conservation buffer of 2.5 percent. The regulatory minimums for the leverage ratios as of both period ends are the percent required to be considered well capitalized under the PCA framework. (5) Total capital under the Advanced approaches differs from the Standardized approach due to differences in the amount permitted in Tier 2 capital related to the qualifying allowance for credit losses. (6) Reflects total average assets adjusted for certain Tier 1 capital deductions. (7) Supplementary leverage exposure for the Corporation at December 31, 2020 reflects the temporary exclusion of U.S. Treasury securities and deposits at Federal Reserve Banks. The capital adequacy rules issued by the U.S. banking regulators require institutions to meet the established minimums outlined in the table above. Failure to meet the minimum requirements can lead to certain mandatory and discretionary actions by regulators that could have a material adverse impact on the Corporation’s financial position. At December 31, 2020 and 2019, the Corporation and its banking entity affiliates were well capitalized. In response to the uncertainty arising from the pandemic, the Federal Reserve required all large banks to suspend share repurchase programs during the second half of 2020, except for repurchases to offset shares awarded under equity-based compensation plans, and to limit common stock dividends to existing rates that did not exceed the average of the last four quarters’ net income. In December 2020, the Federal Reserve announced that beginning in the first quarter of 2021, large banks would be permitted to pay common stock dividends at existing rates and to repurchase shares in an amount that, when combined with dividends paid, does not exceed the average of net income over the last four quarters. For more information, see Note 13 – Shareholders’ Equity . Other Regulatory Matters The Federal Reserve requires the Corporation’s bank subsidiaries to maintain reserve requirements based on a percentage of certain deposit liabilities. The average daily reserve balance requirements, in excess of vault cash, maintained by the Corporation with the Federal Reserve Bank were $3.8 billion for 2020, reflecting the Federal Reserve's reduction of the reserve requirement to zero in the first quarter due to COVID-19, and $14.6 billion for 2019. At December 31, 2020 and 2019, the Corporation had cash and cash equivalents in the amount of $4.9 billion and $6.3 billion, and securities with a fair value of $16.8 billion and $14.7 billion that were segregated in compliance with securities regulations. Cash held on deposit with the Federal Reserve Bank to meet reserve requirements and cash and cash equivalents segregated in compliance with securities regulations are components of restricted cash. For more information, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash . In addition, at December 31, 2020 and 2019, the Corporation had cash deposited with clearing organizations of $10.9 billion and $7.6 billion primarily recorded in other assets on the Consolidated Balance Sheet. Bank Subsidiary Distributions The primary sources of funds for cash distributions by the Corporation to its shareholders are capital distributions received from its bank subsidiaries, BANA and Bank of America California, N.A. In 2020, the Corporation received dividends of $10.3 billion from BANA and $62 million from Bank of America California, N.A. The amount of dividends that a subsidiary bank may declare in a calendar year without OCC approval is the subsidiary bank’s net profits for that year combined with its retained net profits for the preceding two years. Retained net profits, as defined by the OCC, consist of net income less dividends declared during the period. In 2021, BANA can declare and pay dividends of approximately $10.3 billion to the Corporation plus an additional amount equal to its retained net profits for 2021 up to the date

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Pension and Postretirement Plans The Corporation sponsors a qualified noncontributory trusteed pension plan (Qualified Pension Plan), a number of noncontributory nonqualified pension plans, and postretirement health and life plans that cover eligible employees. Non-U.S. pension plans sponsored by the Corporation vary based on the country and local practices. The Qualified Pension Plan has a balance guarantee feature for account balances with participant-selected investments, applied at the time a benefit payment is made from the plan that effectively provides principal protection for participant balances transferred and certain compensation credits. The Corporation is responsible for funding any shortfall on the guarantee feature. Benefits earned under the Qualified Pension Plan have been frozen. Thereafter, the cash balance accounts continue to earn investment credits or interest credits in accordance with the terms of the plan document. The Corporation has an annuity contract that guarantees the payment of benefits vested under a terminated U.S. pension plan (Other Pension Plan). The Corporation, under a supplemental agreement, may be responsible for or benefit from actual experience and investment performance of the annuity assets. The Corporation made no contribution under this agreement in 2020 or 2019. Contributions may be required in the future under this agreement. The Corporation’s noncontributory, nonqualified pension plans are unfunded and provide supplemental defined pension benefits to certain eligible employees. In addition to retirement pension benefits, certain benefits-eligible employees may become eligible to continue participation as retirees in health care and/or life insurance plans sponsored by the Corporation. These plans are referred to as the Postretirement Health and Life Plans. The Pension and Postretirement Plans table summarizes the changes in the fair value of plan assets, changes in the projected benefit obligation (PBO), the funded status of both the accumulated benefit obligation (ABO) and the PBO, and the weighted-average assumptions used to determine benefit obligations for the pension plans and postretirement plans at December 31, 2020 and 2019. The estimate of the Corporation’s PBO associated with these plans considers various actuarial assumptions, including assumptions for mortality rates and discount rates. The discount rate assumptions are derived from a cash flow matching technique that utilizes rates that are based on Aa-rated corporate bonds with cash flows that match estimated benefit payments of each of the plans. The decreases in the weighted-average discount rates in 2020 and 2019 resulted in increases to the PBO of approximately $1.9 billion and $2.2 billion at December 31, 2020 and 2019. Significant gains and losses related to changes in the PBO for 2020 and 2019 primarily resulted from changes in the discount rate. Pension and Postretirement Plans (1) Qualified Non-U.S. Nonqualified and Other Postretirement (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Fair value, January 1 $ 20,275 $ 18,178 $ 2,696 $ 2,461 $ 2,666 $ 2,584 $ 199 $ 252 Actual return on plan assets 2,468 3,187 379 273 285 228 1 5 Company contributions — — 23 20 86 91 6 24 Plan participant contributions — — 1 1 — — 110 103 Settlements and curtailments — — (61) (42) — — — — Benefits paid (967) (1,090) (57) (108) (248) (237) (174) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 97 91 n/a n/a n/a n/a Fair value, December 31 $ 21,776 $ 20,275 $ 3,078 $ 2,696 $ 2,789 $ 2,666 $ 143 $ 199 Change in projected benefit obligation Projected benefit obligation, January 1 $ 15,361 $ 14,144 $ 2,887 $ 2,589 $ 2,919 $ 2,779 $ 989 $ 928 Service cost — — 20 17 1 1 5 5 Interest cost 500 593 49 65 90 113 32 38 Plan participant contributions — — 1 1 — — 110 103 Plan amendments — — 3 2 — — — — Settlements and curtailments — — (61) (42) — — — — Actuarial loss 1,533 1,714 396 288 243 263 43 99 Benefits paid (967) (1,090) (57) (108) (248) (237) (173) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 102 75 n/a n/a — 1 Projected benefit obligation, December 31 $ 16,427 $ 15,361 $ 3,340 $ 2,887 $ 3,005 $ 2,919 $ 1,007 $ 989 Amounts recognized on Consolidated Balance Sheet Other assets $ 5,349 $ 4,914 $ 428 $ 364 $ 812 $ 733 $ — $ — Accrued expenses and other liabilities — — (690) (555) (1,028) (986) (864) (790) Net amount recognized, December 31 $ 5,349 $ 4,914 $ (262) $ (191) $ (216) $ (253) $ (864) $ (790) Funded status, December 31 Accumulated benefit obligation $ 16,427 $ 15,361 $ 3,253 $ 2,841 $ 3,005 $ 2,919 n/a n/a Overfunded (unfunded) status of ABO 5,349 4,914 (175) (145) (216) (253) n/a n/a Provision for future salaries — — 87 46 — — n/a n/a Projected benefit obligation 16,427 15,361 3,340 2,887 3,005 2,919 $ 1,007 $ 989 Weighted-average assumptions, December 31 Discount rate 2.57 % 3.32 % 1.37 % 1.81 % 2.33 % 3.20 % 2.48 % 3.27 % Rate of compensation increase n/a n/a 4.11 4.10 4.00 4.00 n/a n/a Interest-crediting rate 5.02 % 5.06 % 1.58 1.53 4.49 4.52 n/a n/a (1) The measurement date for all of the above plans was December 31 of each year reported. n/a = not applicable The Corporation’s estimate of its contributions to be made to the Non-U.S. Pension Plans, Nonqualified and Other Pension Plans, and Postretirement Health and Life Plans in 2021 is $29 million, $93 million and $14 million, respectively. The Corporation does not expect to make a contribution to the Qualified Pension Plan in 2021. It is the policy of the Corporation to fund no less than the minimum funding amount required by the Employee Retirement Income Security Act of 1974 (ERISA). Pension Plans with ABO and PBO in excess of plan assets as of December 31, 2020 and 2019 are presented in the table below. For these plans, funding strategies vary due to legal requirements and local practices. Plans with ABO and PBO in Excess of Plan Assets Non-U.S. Nonqualified (Dollars in millions) 2020 2019 2020 2019 PBO $ 900 $ 744 $ 1,028 $ 988 ABO 841 720 1,028 988 Fair value of plan assets 211 191 1 1 Components of Net Periodic Benefit Cost Qualified Pension Plan Non-U.S. Pension Plans (Dollars in millions) 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost (income) Service cost $ — $ — $ — $ 20 $ 17 $ 19 Interest cost 500 593 563 49 65 65 Expected return on plan assets (1,154) (1,088) (1,136) (66) (99) (126) Amortization of net actuarial loss 173 135 147 9 6 10 Other — — — 8 4 12 Net periodic benefit cost (income) $ (481) $ (360) $ (426) $ 20 $ (7) $ (20) Weighted-average assumptions used to determine net cost for years ended December 31 Discount rate 3.32 % 4.32 % 3.68 % 1.81 % 2.60 % 2.39 % Expected return on plan assets 6.00 6.00 6.00 2.57 4.13 4.37 Rate of compensation increase n/a n/a n/a 4.10 4.49 4.31 Nonqualified and Postretirement Health (Dollars in millions) 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost (income) Service cost $ 1 $ 1 $ 1 $ 5 $ 5 $ 6 Interest cost 90 113 105 32 38 36 Expected return on plan assets (71) (95) (84) (4) (5) (6) Amortization of net actuarial loss (gain) 50 34 43 29 (24) (27) Other — — — (2) (2) (3) Net periodic benefit cost (income) $ 70 $ 53 $ 65 $ 60 $ 12 $ 6 Weighted-average assumptions used to determine net cost for years ended December 31 Discount rate 3.20 % 4.26 % 3.58 % 3.27 % 4.25 % 3.58 % Expected return on plan assets 2.77 3.73 3.19 2.00 2.00 2.00 Rate of compensation increase 4.00 4.00 4.00 n/a n/a n/a n/a = not applicable The asset valuation method used to calculate the expected return on plan assets component of net periodic benefit cost for the Qualified Pension Plan recognizes 60 percent of the prior year’s market gains or losses at the next measurement date with the remaining 40 percent spread equally over the subsequent four years. Gains and losses for all benefit plans except postretirement health care are recognized in accordance with the standard amortization provisions of the applicable accounting guidance. Net periodic postretirement health and life expense was determined using the “projected unit credit” actuarial method. For the Postretirement Health and Life Plans, 50 percent of the unrecognized gain or loss at the beginning of the year (or at subsequent remeasurement) is recognized on a level basis during the year. Assumed health care cost trend rates affect the postretirement benefit obligation and benefit cost reported for the Postretirement Health and Life Plans. The assumed health care cost trend rate used to measure the expected cost of benefits covered by the Postretirement Health and Life Plans is 6.25 percent for 2021, reducing in steps to 5.00 percent in 2026 and later years. The Corporation’s net periodic benefit cost (income) recognized for the plans is sensitive to the discount rate and expected return on plan assets. For the Qualified Pension Plan, Non-U.S. Pension Plans, Nonqualified and Other Pension Plans, and Postretirement Health and Life Plans, a 25 bp decline in discount rates and expected return on assets would not have had a significant impact on the net periodic benefit cost for 2020. Pretax Amounts included in Accumulated OCI and OCI Qualified Non-U.S. Nonqualified Postretirement Total (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Net actuarial loss (gain) $ 3,912 $ 3,865 $ 628 $ 559 $ 987 $ 1,008 $ 66 $ 48 $ 5,593 $ 5,480 Prior service cost (credits) — — 18 18 — — (4) (6) 14 12 Amounts recognized in accumulated OCI $ 3,912 $ 3,865 $ 646 $ 577 $ 987 $ 1,008 $ 62 $ 42 $ 5,607 $ 5,492 Current year actuarial loss (gain) $ 219 $ (385) $ 79 $ 110 $ 29 $ 130 $ 47 $ 99 $ 374 $ (46) Amortization of actuarial gain (loss) and prior service cost (173) (135) (12) (7) (50) (34) (27) 26 (262) (150) Current year prior service cost (credit) — — 3 2 — — — — 3 2 Amounts recognized in OCI $ 46 $ (520) $ 70 $ 105 $ (21) $ 96 $ 20 $ 125 $ 115 $ (194) Plan Assets The Qualified Pension Plan has been established as a retirement vehicle for participants, and trusts have been established to secure benefits promised under the Qualified Pension Plan. The Corporation’s policy is to invest the trust assets in a prudent manner for the exclusive purpose of providing benefits to participants and defraying reasonable expenses of administration. The Corporation’s investment strategy is designed to provide a total return that, over the long term, increases the ratio of assets to liabilities. The strategy attempts to maximize the investment return on assets at a level of risk deemed appropriate by the Corporation while complying with ERISA and any applicable regulations and laws. The investment strategy utilizes asset allocation as a principal determinant for establishing the risk/return profile of the assets. Asset allocation ranges are established, periodically reviewed and adjusted as funding levels and liability characteristics change. Active and passive investment managers are employed to help enhance the risk/return profile of the assets. An additional aspect of the investment strategy used to minimize risk (part of the asset allocation plan) includes matching the exposure of participant-selected investment measures. The assets of the Non-U.S. Pension Plans are primarily attributable to a U.K. pension plan. This U.K. pension plan’s assets are invested prudently so that the benefits promised to members are provided with consideration given to the nature and the duration of the plans' liabilities. The selected asset allocation strategy is designed to achieve a higher return than the lowest risk strategy. The expected rate of return on plan assets assumption was developed through analysis of historical market returns, historical asset class volatility and correlations, current market conditions, anticipated future asset allocations, the funds’ past experience and expectations on potential future market returns. The expected return on plan assets assumption is determined using the calculated market-related value for the Qualified Pension Plan and the Other Pension Plan and the fair value for the Non-U.S. Pension Plans and Postretirement Health and Life Plans. The expected return on plan assets assumption represents a long-term average view of the performance of the assets in the Qualified Pension Plan, the Non-U.S. Pension Plans, the Other Pension Plan, and Postretirement Health and Life Plans, a return that may or may not be achieved during any one calendar year. The Other Pension Plan is invested solely in an annuity contract, which is primarily invested in fixed-income securities structured such that asset maturities match the duration of the plan’s obligations. The target allocations for 2021 by asset category for the Qualified Pension Plan, Non-U.S. Pension Plans, and Nonqualified and Other Pension Plans are presented in the following table. Equity securities for the Qualified Pension Plan include common stock of the Corporation in the amounts of $274 million (1.26 percent of total plan assets) and $315 million (1.55 percent of total plan assets) at December 31, 2020 and 2019. 2021 Target Allocation Percentage Asset Category Qualified Non-U.S. Nonqualified Equity securities 15 - 50% 0 - 25% 0 - 5% Debt securities 45 - 80% 40 - 70% 95 - 100% Real estate 0 - 10% 0 - 15% 0 - 5% Other 0 - 5% 10 - 40% 0 - 5% Fair Value Measurements For more information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy and the valuation methods employed by the Corporation, see Note 1 – Summary of Significant Accounting Principles and Note 20 – Fair Value Measurements . Combined plan investment assets measured at fair value by level and in total at December 31, 2020 and 2019 are summarized in the Fair Value Measurements table. Fair Value Measurements Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (Dollars in millions) December 31, 2020 December 31, 2019 Cash and short-term investments Money market and interest-bearing cash $ 1,380 $ — $ — $ 1,380 $ 1,426 $ — $ — $ 1,426 Cash and cash equivalent commingled/mutual funds — 383 — 383 — 250 — 250 Fixed income U.S. government and agency securities 4,590 1,238 7 5,835 4,403 890 8 5,301 Corporate debt securities — 5,021 — 5,021 — 3,676 — 3,676 Asset-backed securities — 1,967 — 1,967 — 2,684 — 2,684 Non-U.S. debt securities 1,021 1,122 — 2,143 748 1,015 — 1,763 Fixed income commingled/mutual funds 1,224 1,319 — 2,543 804 1,439 — 2,243 Equity Common and preferred equity securities 4,438 — — 4,438 4,655 — — 4,655 Equity commingled/mutual funds 134 1,542 — 1,676 147 1,355 — 1,502 Public real estate investment trusts 73 — — 73 91 — — 91 Real estate Real estate commingled/mutual funds — 20 943 963 — 18 927 945 Limited partnerships — 184 83 267 — 173 90 263 Other investments (1) 5 401 691 1,097 11 390 636 1,037 Total plan investment assets, at fair value $ 12,865 $ 13,197 $ 1,724 $ 27,786 $ 12,285 $ 11,890 $ 1,661 $ 25,836 (1) Other investments include commodity and balanced funds of $246 million and $233 million, insurance annuity contracts of $664 million and $614 million and other various investments of $187 million and $190 million at December 31, 2020 and 2019. The Level 3 Fair Value Measurements table presents a reconciliation of all plan investment assets measured at fair value using significant unobservable inputs (Level 3) during 2020, 2019 and 2018. Level 3 Fair Value Measurements Balance Actual Return on Purchases, Sales and Settlements Balance (Dollars in millions) 2020 Fixed income U.S. government and agency securities $ 8 $ — $ (1) $ 7 Real estate Real estate commingled/mutual funds 927 (4) 20 943 Limited partnerships 90 2 (9) 83 Other investments 636 6 49 691 Total $ 1,661 $ 4 $ 59 $ 1,724 2019 Fixed income U.S. government and agency securities $ 9 $ — $ (1) $ 8 Real estate Private real estate 5 — (5) — Real estate commingled/mutual funds 885 33 9 927 Limited partnerships 82 — 8 90 Other investments 588 6 42 636 Total $ 1,569 $ 39 $ 53 $ 1,661 2018 Fixed income U.S. government and agency securities $ 9 $ — $ — $ 9 Real estate Private real estate 93 (7) (81) 5 Real estate commingled/mutual funds 831 52 2 885 Limited partnerships 85 (12) 9 82 Other investments 74 — 514 588 Total $ 1,092 $ 33 $ 444 $ 1,569 Projected Benefit Payments Benefit payments projected to be made from the Qualified Pension Plan, Non-U.S. Pension Plans, Nonqualified and Other Pension Plans, and Postretirement Health and Life Plans are presented in the table below. Projected Benefit Payments (Dollars in millions) Qualified Pension Plan (1) Non-U.S. Pension Plans (2) Nonqualified and Other Pension Plans (2) Postretirement Health and Life Plans (3) 2021 $ 856 $ 127 $ 244 $ 79 2022 943 134 245 76 2023 939 143 229 74 2024 943 135 224 70 2025 934 140 221 67 2026 - 2030 4,474 675 977 290 (1) Benefit payments expected to be made from the plan’s assets. (2) Benefit payments expected to be made from a combination of the plans’ and the Corporation’s assets. (3) Benefit payments (net of retiree contributions) expected to be made from a combination of the plans’ and the Corporation’s assets. Defined Contribution Plans The Corporation maintains qualified and non-qualified defined contribution retirement plans. The Corporation recorded expense of $1.2 billion, $1.0 billion and $1.0 billion in 2020, 2019 and 2018 related to the qualified defined contribution plans. At both December 31, 2020 and 2019, 189 million shares of the Corporation’s common stock were held by these plans. Payments to the plans for dividends on common stock were $138 million, $133 million and $115 million in 2020, 2019 and 2018, respectively. Certain non-U.S. employees are covered under defined contribution pension plans that are separately administered in accordance with local laws.

Stock-based Compensation Plans

Stock-based Compensation Plans	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Plans	Stock-based Compensation Plans The Corporation administers a number of equity compensation plans, with awards being granted predominantly from the Bank of America Key Employee Equity Plan (KEEP). Under this plan, 600 million shares of the Corporation’s common stock are authorized to be used for grants of awards. During 2020 and 2019, the Corporation granted 86 million and 94 million RSU awards to certain employees under the KEEP. These RSUs were authorized to settle predominantly in shares of common stock of the Corporation. Certain RSUs will be settled in cash or contain settlement provisions that subject these awards to variable accounting whereby compensation expense is adjusted to fair value based on changes in the share price of the Corporation’s common stock up to the settlement date. Of the RSUs granted in 2020 and 2019, 61 million and 71 million will vest predominantly over three years with most vesting occurring in one-third increments on each of the first three anniversaries of the grant date provided that the employee remains continuously employed with the Corporation during that time, and will be expensed ratably over the vesting period, net of estimated forfeitures, for non-retirement eligible employees based on the grant-date fair value of the shares. For RSUs granted to employees who are retirement eligible, the awards are deemed authorized as of the beginning of the year preceding the grant date when the incentive award plans are generally approved. As a result, the estimated value is expensed ratably over the year preceding the grant date. Additionally, 25 million and 23 million of the RSUs granted in 2020 and 2019 will vest predominantly over four years with most vesting occurring in one-fourth increments on each of the first four anniversaries of the grant date provided that the employee remains continuously employed with the Corporation during that time, and will be expensed ratably over the vesting period, net of estimated forfeitures, based on the grant-date fair value of the shares. The compensation cost for the stock-based plans was $2.1 billion, $2.1 billion and $1.8 billion, and the related income tax benefit was $505 million, $511 million and $433 million for 2020, 2019 and 2018, respectively. At December 31, 2020, there was an estimated $2.0 billion of total unrecognized compensation cost related to certain share-based compensation awards that is expected to be recognized over a period of up to four years, with a weighted-average period of 2.2 years. Restricted Stock and Restricted Stock Units The total fair value of restricted stock and restricted stock units vested in 2020, 2019 and 2018 was $2.3 billion, $2.6 billion and $2.3 billion, respectively. The table below presents the status at December 31, 2020 of the share-settled restricted stock and restricted stock units and changes during 2020. Stock-settled Restricted Stock and Restricted Stock Units Shares/Units Weighted- Outstanding at January 1, 2020 157,909,315 $ 27.93 Granted 83,604,782 33.01 Vested (68,578,284) 27.38 Canceled (4,982,584) 30.88 Outstanding at December 31, 2020 167,953,229 30.60 Cash-settled Restricted Units At December 31, 2020, approximately two million cash-settled restricted units remain outstanding. In 2020, 2019 and 2018, the amount of cash paid to settle the RSUs that vested was $81 million, $84 million and $1.3 billion, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense for 2020, 2019 and 2018 are presented in the table below. Income Tax Expense (Dollars in millions) 2020 2019 2018 Current income tax expense U.S. federal $ 1,092 $ 1,136 $ 816 U.S. state and local 1,076 901 1,377 Non-U.S. 670 852 1,203 Total current expense 2,838 2,889 3,396 Deferred income tax expense U.S. federal (799) 2,001 2,579 U.S. state and local (233) 223 240 Non-U.S. (705) 211 222 Total deferred expense (1,737) 2,435 3,041 Total income tax expense $ 1,101 $ 5,324 $ 6,437 Total income tax expense does not reflect the tax effects of items that are included in OCI each period. For more information, see Note 14 – Accumulated Other Comprehensive Income (Loss) . Other tax effects included in OCI each period resulted in an expense of $1.5 billion and $1.9 billion in 2020 and 2019 and a benefit of $1.2 billion in 2018. Income tax expense for 2020, 2019 and 2018 varied from the amount computed by applying the statutory income tax rate to income before income taxes. The Corporation’s federal statutory tax rate was 21 percent for 2020, 2019 and 2018. A reconciliation of the expected U.S. federal income tax expense, calculated by applying the federal statutory tax rate, to the Corporation’s actual income tax expense, and the effective tax rates for 2020, 2019 and 2018 are presented in the table below. Reconciliation of Income Tax Expense Amount Percent Amount Percent Amount Percent (Dollars in millions) 2020 2019 2018 Expected U.S. federal income tax expense $ 3,989 21.0 % $ 6,878 21.0 % $ 7,263 21.0 % Increase (decrease) in taxes resulting from: State tax expense, net of federal benefit 728 3.8 1,283 3.9 1,367 4.0 Affordable housing/energy/other credits (2,869) (15.1) (2,365) (7.2) (1,888) (5.5) Tax law changes (699) (3.7) — — — — Tax-exempt income, including dividends (346) (1.8) (433) (1.3) (413) (1.2) Share-based compensation (129) (0.7) (225) (0.7) (257) (0.7) Changes in prior-period UTBs, including interest (41) (0.2) (613) (1.9) 144 0.4 Nondeductible expenses 324 1.7 290 0.9 302 0.9 Rate differential on non-U.S. earnings 218 1.1 504 1.5 98 0.3 Other (74) (0.3) 5 0.1 (179) (0.6) Total income tax expense (benefit) $ 1,101 5.8 % $ 5,324 16.3 % $ 6,437 18.6 % The reconciliation of the beginning unrecognized tax benefits (UTB) balance to the ending balance is presented in the following table. Reconciliation of the Change in Unrecognized Tax Benefits (Dollars in millions) 2020 2019 2018 Balance, January 1 $ 1,175 $ 2,197 $ 1,773 Increases related to positions taken during the current year 238 238 395 Increases related to positions taken during prior years (1) 99 401 406 Decreases related to positions taken during prior years (1) (172) (1,102) (371) Settlements — (541) (6) Expiration of statute of limitations — (18) — Balance, December 31 $ 1,340 $ 1,175 $ 2,197 (1) The sum of the positions taken during prior years differs from the $(41) million, $(613) million and $144 million in the Reconciliation of Income Tax Expense table due to temporary items, state items and jurisdictional offsets, as well as the inclusion of interest in the Reconciliation of Income Tax Expense table. At December 31, 2020, 2019 and 2018, the balance of the Corporation’s UTBs which would, if recognized, affect the Corporation’s effective tax rate was $976 million, $814 million and $1.6 billion, respectively. Included in the UTB balance are some items the recognition of which would not affect the effective tax rate, such as the tax effect of certain temporary differences, the portion of gross state UTBs that would be offset by the tax benefit of the associated federal deduction and the portion of gross non-U.S. UTBs that would be offset by tax reductions in other jurisdictions. It is reasonably possible that the UTB balance may decrease by as much as $166 million during the next 12 months, since resolved items will be removed from the balance whether their resolution results in payment or recognition. The Corporation recognized interest expense of $9 million in 2020, an interest benefit of $19 million in 2019 and interest expense of $43 million in 2018. At December 31, 2020 and 2019, the Corporation’s accrual for interest and penalties that related to income taxes, net of taxes and remittances, was $130 million and $147 million. The Corporation files income tax returns in more than 100 state and non-U.S. jurisdictions each year. The IRS and other tax authorities in countries and states in which the Corporation has significant business operations examine tax returns periodically (continuously in some jurisdictions). The following table summarizes the status of examinations by major jurisdiction for the Corporation and various subsidiaries at December 31, 2020. Tax Examination Status Years under Examination (1) Status at December 31 2020 United States 2017-2020 Field Examination California 2012-2017 Field Examination New York 2016-2018 Field Examination United Kingdom (2) 2018 Field Examination (1) All tax years subsequent to the years shown remain subject to examination. (2) Field examination for tax year 2019 to begin in 2021. Significant components of the Corporation’s net deferred tax assets and liabilities at December 31, 2020 and 2019 are presented in the following table. Deferred Tax Assets and Liabilities December 31 (Dollars in millions) 2020 2019 Deferred tax assets Net operating loss carryforwards $ 7,717 $ 7,417 Allowance for credit losses 4,701 2,354 Security, loan and debt valuations 2,571 1,860 Lease liability 2,400 2,321 Employee compensation and retirement benefits 1,582 1,622 Accrued expenses 1,481 1,719 Credit carryforwards 484 183 Other 1,412 1,203 Gross deferred tax assets 22,348 18,679 Valuation allowance (2,346) (1,989) Total deferred tax assets, net of valuation 20,002 16,690 Deferred tax liabilities Equipment lease financing 3,101 2,933 Right-to-use asset 2,296 2,246 Fixed assets 1,957 1,505 ESG-related tax credit investments 1,930 1,577 Available-for-sale securities 1,701 100 Other 1,570 1,885 Gross deferred tax liabilities 12,555 10,246 Net deferred tax assets $ 7,447 $ 6,444 On January 1, 2020, the Corporation adopted the CECL accounting standard. The transition adjustment included a tax benefit of $760 million in retained earnings, which increased deferred tax assets by a corresponding amount. The table below summarizes the deferred tax assets and related valuation allowances recognized for the net operating loss (NOL) and tax credit carryforwards at December 31, 2020. Net Operating Loss and Tax Credit Carryforward Deferred Tax Assets (Dollars in millions) Deferred Valuation Net First Year Net operating losses - U.S. $ 36 $ — $ 36 After 2028 Net operating losses - U.K. (1) 5,896 — 5,896 None Net operating losses - other non-U.S. 506 (441) 65 Various Net operating losses - U.S. states (2) 1,279 (579) 700 Various Foreign tax credits 484 (484) — After 2028 (1) Represents U.K. broker-dealer net operating losses that may be carried forward indefinitely. (2) The net operating losses and related valuation allowances for U.S. states before considering the benefit of federal deductions were $1.6 billion and $733 million. Management concluded that no valuation allowance was necessary to reduce the deferred tax assets related to the U.K. NOL carryforwards and U.S. federal and certain state NOL carryforwards since estimated future taxable income will be sufficient to utilize these assets prior to their expiration. The majority of the Corporation’s U.K. net deferred tax assets, which consist primarily of NOLs, are expected to be realized by certain subsidiaries over an extended number of years. Management’s conclusion is supported by financial results, profit forecasts for the relevant entities and the indefinite period to carry forward NOLs. However, a material change in those estimates could lead management to reassess such valuation allowance conclusions. At December 31, 2020, U.S. federal income taxes had not been provided on approximately $5.0 billion of temporary

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Under applicable accounting standards, 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 under applicable accounting standards that require an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. The Corporation categorizes its financial instruments into three levels based on the established fair value hierarchy and conducts a review of 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 become unobservable or observable in the current marketplace. For more information regarding the fair value hierarchy and how the Corporation measures fair value, see Note 1 – Summary of Significant Accounting Principles . The Corporation accounts for certain financial instruments under the fair value option. For more information, see Note 21 – Fair Value Option . Valuation Techniques The following sections outline the valuation methodologies for the Corporation’s assets and liabilities. 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 2020, there were no significant changes to valuation approaches or techniques that had, or are expected to have, a material impact on the Corporation’s consolidated financial position or results of operations. Trading Account Assets and Liabilities and Debt Securities The fair values of trading account assets and liabilities are primarily based on actively traded markets where prices are based on either direct market quotes or observed transactions. The fair values of debt securities are generally based on quoted market prices or market prices for similar assets. Liquidity is a significant factor in the determination of the fair values of trading account assets and liabilities and debt securities. Market price quotes may not be readily available for some positions such as positions within a market sector where trading activity has slowed significantly or ceased. Some of these instruments are valued using a discounted cash flow model, which estimates the fair value of the securities using internal credit risk, and interest rate and prepayment risk models that incorporate management’s best estimate of current key assumptions such as default rates, loss severity and prepayment rates. Principal and interest cash flows are discounted using an observable discount rate for similar instruments with adjustments that management believes a market participant would consider in determining fair value for the specific security. Other instruments are valued using a net asset value approach which considers the value of the underlying securities. Underlying assets are valued using external pricing services, where available, or matrix pricing based on the vintages and ratings. Situations of illiquidity generally are triggered by the market’s perception of credit uncertainty regarding a single company or a specific market sector. In these instances, fair value is determined based on limited available market information and other factors, principally from reviewing the issuer’s financial statements and changes in credit ratings made by one or more rating agencies. Derivative Assets and Liabilities The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that utilize multiple market inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. When third-party pricing services are used, the methods and assumptions are reviewed by the Corporation. Estimation risk is greater for derivative asset and liability positions that are either option-based or have longer maturity dates where observable market inputs are less readily available, or are unobservable, in which case, quantitative-based extrapolations of rate, price or index scenarios are used in determining fair values. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality and other instrument-specific factors, where appropriate. In addition, the Corporation incorporates within its fair value measurements of OTC derivatives a valuation adjustment to reflect the credit risk associated with the net position. Positions are netted by counterparty, and fair value for net long exposures is adjusted for counterparty credit risk while the fair value for net short exposures is adjusted for the Corporation’s own credit risk. The Corporation also incorporates FVA within its fair value measurements to include funding costs on uncollateralized derivatives and derivatives where the Corporation is not permitted to use the collateral it receives. An estimate of severity of loss is also used in the determination of fair value, primarily based on market data. Loans and Loan Commitments The fair values of loans and loan commitments are based on market prices, where available, or discounted cash flow analyses using market-based credit spreads of comparable debt instruments or credit derivatives of the specific borrower or comparable borrowers. Results of discounted cash flow analyses may be adjusted, as appropriate, to reflect other market conditions or the perceived credit risk of the borrower. Mortgage Servicing Rights The fair values of MSRs are primarily determined using an option-adjusted spread 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. Loans Held-for-sale The fair values of LHFS are based on quoted market prices, where available, or are determined by discounting estimated cash flows using interest rates approximating the Corporation’s current origination rates for similar loans adjusted to reflect the inherent credit risk. The borrower-specific credit risk is embedded within the quoted market prices or is implied by considering loan performance when selecting comparables. Short-term Borrowings and Long-term Debt The Corporation issues structured liabilities that have coupons or repayment terms linked to the performance of debt or equity securities, interest rates, indices, currencies or commodities. The fair values of these structured liabilities are estimated using quantitative models for the combined derivative and debt portions of the notes. These models incorporate observable and, in some instances, unobservable inputs including security prices, interest rate yield curves, option volatility, currency, commodity or equity rates and correlations among these inputs. The Corporation also considers the impact of its own credit spread in determining the discount rate used to value these liabilities. The credit spread is determined by reference to observable spreads in the secondary bond market. Securities Financing Agreements The fair values of certain reverse repurchase agreements, repurchase agreements and securities borrowed transactions are determined using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate continuous yield or pricing curves, and volatility factors. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Deposits The fair values of deposits are determined using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate continuous yield or pricing curves, and volatility factors. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. The Corporation considers the impact of its own credit spread in the valuation of these liabilities. The credit risk is determined by reference to observable credit spreads in the secondary cash market. Asset-backed Secured Financings The fair values of asset-backed secured financings are based on external broker bids, where available, or are determined by discounting estimated cash flows using interest rates approximating the Corporation’s current origination rates for similar loans adjusted to reflect the inherent credit risk. Recurring Fair Value Assets and liabilities carried at fair value on a recurring basis at December 31, 2020 and 2019, including financial instruments that the Corporation accounts for under the fair value option, are summarized in the following tables. December 31, 2020 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Time deposits placed and other short-term investments $ 1,649 $ — $ — $ — $ 1,649 Federal funds sold and securities borrowed or purchased under agreements to resell — 108,856 — — 108,856 Trading account assets: U.S. Treasury and agency securities 45,219 3,051 — — 48,270 Corporate securities, trading loans and other — 22,817 1,359 — 24,176 Equity securities 36,372 31,372 227 — 67,971 Non-U.S. sovereign debt 5,753 20,884 354 — 26,991 Mortgage trading loans, MBS and ABS: U.S. government-sponsored agency guaranteed (2) — 21,566 75 — 21,641 Mortgage trading loans, ABS and other MBS — 8,440 1,365 — 9,805 Total trading account assets (3) 87,344 108,130 3,380 — 198,854 Derivative assets 15,624 416,175 2,751 (387,371) 47,179 AFS debt securities: U.S. Treasury and agency securities 115,266 1,114 — — 116,380 Mortgage-backed securities: Agency — 61,849 — — 61,849 Agency-collateralized mortgage obligations — 5,260 — — 5,260 Non-agency residential — 631 378 — 1,009 Commercial — 16,491 — — 16,491 Non-U.S. securities — 13,999 18 — 14,017 Other taxable securities — 2,640 71 — 2,711 Tax-exempt securities — 16,598 176 — 16,774 Total AFS debt securities 115,266 118,582 643 — 234,491 Other debt securities carried at fair value: U.S. Treasury and agency securities 93 — — — 93 Non-agency residential MBS — 506 267 — 773 Non-U.S. and other securities 2,619 8,625 — — 11,244 Total other debt securities carried at fair value 2,712 9,131 267 — 12,110 Loans and leases — 5,964 717 — 6,681 Loans held-for-sale — 1,349 236 — 1,585 Other assets (4) 9,898 3,850 1,970 — 15,718 Total assets (5) $ 232,493 $ 772,037 $ 9,964 $ (387,371) $ 627,123 Liabilities Interest-bearing deposits in U.S. offices $ — $ 481 $ — $ — $ 481 Federal funds purchased and securities loaned or sold under agreements to repurchase — 135,391 — — 135,391 Trading account liabilities: U.S. Treasury and agency securities 9,425 139 — — 9,564 Equity securities 38,189 4,235 — — 42,424 Non-U.S. sovereign debt 5,853 8,043 — — 13,896 Corporate securities and other — 5,420 16 — 5,436 Total trading account liabilities 53,467 17,837 16 — 71,320 Derivative liabilities 14,907 412,881 6,219 (388,481) 45,526 Short-term borrowings — 5,874 — — 5,874 Accrued expenses and other liabilities 12,297 4,014 — — 16,311 Long-term debt — 31,036 1,164 — 32,200 Total liabilities (5) $ 80,671 $ 607,514 $ 7,399 $ (388,481) $ 307,103 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $22.2 billion of GSE obligations. (3) Includes securities with a fair value of $16.8 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. Trading account assets also includes precious metal inventories of $576 million that are accounted for at the lower of cost or net realizable value, which is the current selling price less any costs to sell. (4) Includes MSRs of $1.0 billion which are classified as Level 3 assets. (5) Total recurring Level 3 assets were 0.35 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.29 percent of total consolidated liabilities. December 31, 2019 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Time deposits placed and other short-term investments $ 1,000 $ — $ — $ — $ 1,000 Federal funds sold and securities borrowed or purchased under agreements to resell — 50,364 — — 50,364 Trading account assets: U.S. Treasury and agency securities 49,517 4,157 — — 53,674 Corporate securities, trading loans and other — 25,226 1,507 — 26,733 Equity securities 53,597 32,619 239 — 86,455 Non-U.S. sovereign debt 3,965 23,854 482 — 28,301 Mortgage trading loans, MBS and ABS: U.S. government-sponsored agency guaranteed (2) — 24,324 — — 24,324 Mortgage trading loans, ABS and other MBS — 8,786 1,553 — 10,339 Total trading account assets (3) 107,079 118,966 3,781 — 229,826 Derivative assets 14,079 328,442 2,226 (304,262) 40,485 AFS debt securities: U.S. Treasury and agency securities 67,332 1,196 — — 68,528 Mortgage-backed securities: Agency — 122,528 — — 122,528 Agency-collateralized mortgage obligations — 4,641 — — 4,641 Non-agency residential — 653 424 — 1,077 Commercial — 15,021 — — 15,021 Non-U.S. securities — 11,989 2 — 11,991 Other taxable securities — 3,876 65 — 3,941 Tax-exempt securities — 17,804 108 — 17,912 Total AFS debt securities 67,332 177,708 599 — 245,639 Other debt securities carried at fair value: U.S. Treasury and agency securities 3 — — — 3 Agency MBS — 3,003 — — 3,003 Non-agency residential MBS — 1,035 299 — 1,334 Non-U.S. and other securities 400 6,088 — — 6,488 Total other debt securities carried at fair value 403 10,126 299 — 10,828 Loans and leases — 7,642 693 — 8,335 Loans held-for-sale — 3,334 375 — 3,709 Other assets (4) 11,782 1,376 2,360 — 15,518 Total assets (5) $ 201,675 $ 697,958 $ 10,333 $ (304,262) $ 605,704 Liabilities Interest-bearing deposits in U.S. offices $ — $ 508 $ — $ — $ 508 Federal funds purchased and securities loaned or sold under agreements to repurchase — 16,008 — — 16,008 Trading account liabilities: U.S. Treasury and agency securities 13,140 282 — — 13,422 Equity securities 38,148 4,144 2 — 42,294 Non-U.S. sovereign debt 10,751 11,310 — — 22,061 Corporate securities and other — 5,478 15 — 5,493 Total trading account liabilities 62,039 21,214 17 — 83,270 Derivative liabilities 11,904 320,479 4,764 (298,918) 38,229 Short-term borrowings — 3,941 — — 3,941 Accrued expenses and other liabilities 13,927 1,507 — — 15,434 Long-term debt — 33,826 1,149 — 34,975 Total liabilities (5) $ 87,870 $ 397,483 $ 5,930 $ (298,918) $ 192,365 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $26.7 billion of GSE obligations. (3) Includes securities with a fair value of $14.7 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) Includes MSRs of $1.5 billion which are classified as Level 3 assets. (5) Total recurring Level 3 assets were 0.42 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.27 percent of total consolidated liabilities. 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 2020, 2019 and 2018, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Transfers into Level 3 occur primarily due to decreased price observability, and transfers out of Level 3 occur primarily due to increased price observability. Transfers occur on a regular basis for 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. Level 3 – Fair Value Measurements (1) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) (Dollars in millions) Purchases Sales Issuances Settlements Year Ended December 31, 2020 Trading account assets: Corporate securities, trading loans and other $ 1,507 $ (138) $ (1) $ 430 $ (242) $ 10 $ (282) $ 639 $ (564) $ 1,359 $ (102) Equity securities 239 (43) — 78 (53) — (3) 58 (49) 227 (31) Non-U.S. sovereign debt 482 45 (46) 76 (61) — (39) 150 (253) 354 47 Mortgage trading loans, ABS and other MBS 1,553 (120) (3) 577 (746) 11 (96) 757 (493) 1,440 (92) Total trading account assets 3,781 (256) (50) 1,161 (1,102) 21 (420) 1,604 (1,359) 3,380 (178) Net derivative assets (liabilities) (4) (2,538) (235) — 120 (646) — (112) (235) 178 (3,468) (953) AFS debt securities: Non-agency residential MBS 424 (2) 3 23 (54) — (44) 158 (130) 378 (2) Non-U.S. securities 2 1 — — (1) — (1) 17 — 18 1 Other taxable securities 65 — — 9 (4) — — 1 — 71 — Tax-exempt securities 108 (21) 3 — — — (169) 265 (10) 176 (20) Total AFS debt securities 599 (22) 6 32 (59) — (214) 441 (140) 643 (21) Other debt securities carried at fair value – Non-agency residential MBS 299 26 — — (180) — (24) 190 (44) 267 3 Loans and leases (5,6) 693 (4) — 145 (76) 22 (161) 98 — 717 9 Loans held-for-sale (5,6) 375 26 (28) — (489) 691 (119) 93 (313) 236 (5) Other assets (6,7) 2,360 (288) 3 178 (4) 224 (506) 5 (2) 1,970 (374) Trading account liabilities – Equity securities (2) 1 — — — — — — 1 — — Trading account liabilities – Corporate securities and other (15) 8 — (7) (3) — 1 — — (16) — Long-term debt (5) (1,149) (46) 2 (104) — (47) 218 (52) 14 (1,164) (5) Year Ended December 31, 2019 Trading account assets: Corporate securities, trading loans and other $ 1,558 $ 105 $ — $ 534 $ (390) $ 18 $ (578) $ 699 $ (439) $ 1,507 $ 29 Equity securities 276 (12) — 38 (87) — (9) 79 (46) 239 (18) Non-U.S. sovereign debt 465 46 (12) 1 — — (51) 39 (6) 482 47 Mortgage trading loans, ABS and other MBS 1,635 99 (2) 662 (899) — (175) 738 (505) 1,553 26 Total trading account assets 3,934 238 (14) 1,235 (1,376) 18 (813) 1,555 (996) 3,781 84 Net derivative assets (liabilities) (4,8) (935) (37) — 298 (837) — (97) 147 (1,077) (2,538) 228 AFS debt securities: Non-agency residential MBS 597 13 64 — (73) — (40) 206 (343) 424 — Non-U.S. securities 2 — — — — — — — — 2 — Other taxable securities 7 2 — — — — (5) 61 — 65 — Tax-exempt securities — — — — — — — 108 — 108 — Total AFS debt securities 606 15 64 — (73) — (45) 375 (343) 599 — Other debt securities carried at fair value – Non-agency residential MBS 172 36 — — — — (17) 155 (47) 299 38 Loans and leases (5,6) 338 — — 230 (35) 217 (57) — — 693 (1) Loans held-for-sale (5,6) 542 48 (6) 12 (71) 36 (245) 59 — 375 22 Other assets (6,7) 2,932 (81) 19 — (10) 179 (683) 5 (1) 2,360 (267) Trading account liabilities – Equity securities — (2) — — — — — — — (2) (2) Trading account liabilities – Corporate securities and other (18) 8 — (1) (3) (1) — — — (15) — Long-term debt (5,8) (817) (59) (64) — — (40) 180 (350) 1 (1,149) (55) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains (losses) reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; AFS debt securities - predominantly other income; Other debt securities carried at fair value - other income; Loans and leases - market making and similar activities and other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized gains (losses) of $(41) million and $3 million related to financial instruments still held at December 31, 2020 and 2019. (4) Net derivative assets (liabilities) include derivative assets of $2.8 billion and $2.2 billion and derivative liabilities of $6.2 billion and $4.8 billion at December 31, 2020 and 2019. (5) Amounts represent instruments that are accounted for under the fair value option. (6) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (7) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. (8) Transfers into long-term debt include a $1.4 billion transfer in of Level 3 derivative assets to reflect the Corporation's change to present bifurcated embedded derivatives with their respective host instruments. Level 3 – Fair Value Measurements (1) (Dollars in millions) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (Losses) in OCI (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) Purchases Sales Issuances Settlements Year Ended December 31, 2018 Trading account assets: Corporate securities, trading loans and other $ 1,864 $ (32) $ (1) $ 436 $ (403) $ 5 $ (568) $ 804 $ (547) $ 1,558 $ (117) Equity securities 235 (17) — 44 (11) — (4) 78 (49) 276 (22) Non-U.S. sovereign debt 556 47 (44) 13 (57) — (30) 117 (137) 465 48 Mortgage trading loans, ABS and other MBS 1,498 148 3 585 (910) — (158) 705 (236) 1,635 97 Total trading account assets 4,153 146 (42) 1,078 (1,381) 5 (760) 1,704 (969) 3,934 6 Net derivative assets (liabilities) (4) (1,714) 106 — 531 (1,179) — 778 39 504 (935) (116) AFS debt securities: Non-agency residential MBS — 27 (33) — (71) — (25) 774 (75) 597 — Non-U.S. securities 25 — (1) — (10) — (15) 3 — 2 — Other taxable securities 509 1 (3) — (23) — (11) 60 (526) 7 — Tax-exempt securities 469 — — — — — (1) 1 (469) — — Total AFS debt securities (5) 1,003 28 (37) — (104) — (52) 838 (1,070) 606 — Other debt securities carried at fair value - Non-agency residential MBS — (18) — — (8) — (34) 365 (133) 172 (18) Loans and leases (6,7) 571 (16) — — (134) — (83) — — 338 (9) Loans held-for-sale (6) 690 44 (26) 71 — 1 (201) 23 (60) 542 31 Other assets (5,7,8) 2,425 414 (38) 2 (69) 96 (792) 929 (35) 2,932 149 Trading account liabilities – Corporate securities and other (24) 11 — 9 (12) (2) — — — (18) (7) Accrued expenses and other liabilities (6) (8) — — — — — 8 — — — — Long-term debt (6) (1,863) 103 4 9 — (141) 486 (262) 847 (817) 95 (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains/losses reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; Other debt securities carried at fair value - other income; Loans and leases - predominantly other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - primarily market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized losses of $105 million related to financial instruments still held at December 31, 2018. (4) Net derivative assets (liabilities) include derivative assets of $3.5 billion and derivative liabilities of $4.4 billion. (5) Transfers out of AFS debt securities and into other assets primarily relate to the reclassifcation of certain securities. (6) Amounts represent instruments that are accounted for under the fair value option. (7) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (8) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. The following tables present information about significant unobservable inputs related to the Corporation’s material categories of Level 3 financial assets and liabilities at December 31, 2020 and 2019. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2020 (Dollars in millions) Inputs Financial Instrument Fair Valuation Significant Unobservable Ranges of Weighted Average (1) Loans and Securities (2) Instruments backed by residential real estate assets $ 1,543 Discounted cash flow, Market comparables Yield (3)% to 25% 6 % Trading account assets – Mortgage trading loans, ABS and other MBS 467 Prepayment speed 1% to 56% CPR 20% CPR Loans and leases 431 Default rate 0% to 3% CDR 1% CDR AFS debt securities – Non-agency residential 378 Price $0 to $168 $110 Other debt securities carried at fair value – Non-agency residential 267 Loss severity 0% to 47% 18 % Instruments backed by commercial real estate assets $ 407 Discounted cash Yield 0% to 25% 4 % Trading account assets – Corporate securities, trading loans and other 262 Price $0 to $100 $52 Trading account assets – Mortgage trading loans, ABS and other MBS 43 AFS debt securities, primarily other taxable securities 89 Loans held-for-sale 13 Commercial loans, debt securities and other $ 3,066 Discounted cash flow, Market comparables Yield 0% to 26% 9 % Trading account assets – Corporate securities, trading loans and other 1,097 Prepayment speed 10% to 20% 14 % Trading account assets – Non-U.S. sovereign debt 354 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans, ABS and other MBS 930 Loss severity 35% to 40% 38 % AFS debt securities – Tax-exempt securities 176 Price $0 to $142 $66 Loans and leases 286 Long-dated equity volatilities 77% n/a Loans held-for-sale 223 Other assets, primarily auction rate securities $ 937 Discounted cash flow, Market comparables Price $10 to $97 $91 Discount rate 8 % n/a MSRs $ 1,033 Discounted cash Weighted-average life, fixed rate (5) 0 to 13 years 4 years Weighted-average life, variable rate (5) 0 to 10 years 3 years Option-adjusted spread, fixed rate 7% to 14% 9 % Option-adjusted spread, variable rate 9% to 15% 12 % Structured liabilities Long-term debt $ (1,164) Discounted cash flow, Market comparables, Industry standard derivative pricing (3) Yield 0% to 11% 9 % Equity correlation 2% to 100% 64 % Long-dated equity volatilities 7% to 64% 32 % Price $0 to $124 $86 Natural gas forward price $1/MMBtu to $4/MMBtu $3 /MMBtu Net derivative assets (liabilities) Credit derivatives $ (112) Discounted cash flow, Stochastic recovery correlation model Yield 5% n/a Upfront points 0 to 100 points 75 points Prepayment speed 15% to 100% CPR 22% CPR Default rate 2% CDR n/a Credit correlation 21% to 64% 57 % Price $0 to $122 $69 Equity derivatives $ (1,904) Industry standard derivative pricing (3) Equity correlation 2% to 100% 64 % Long-dated equity volatilities 7% to 64% 32 % Commodity derivatives $ (1,426) Discounted cash flow, Industry standard derivative pricing (3) Natural gas forward price $1/MMBtu to $4/MMBtu $3 /MMBtu Correlation 39% to 85% 73 % Volatilities 23% to 70% 39 % Interest rate derivatives $ (26) Industry standard derivative pricing (4) Correlation (IR/IR) 15% to 96% 34 % Correlation (FX/IR) 0% to 46% 3 % Long-dated inflation rates (7)% to 84% 14 % Long-dated inflation volatilities 0% to 1% 1 % Interest rate volatilities 0% to 2% 1 % Total net derivative assets (liabilities) $ (3,468) (1) For loans and securities, structured liabilities and net derivative assets (liabilities), the weighted average is calculated based upon the absolute fair value of the instruments. (2) The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 156: Trading account assets – Corporate securities, trading loans and other of $1.4 billion, Trading account assets – Non-U.S. sovereign debt of $354 million, Trading account assets – Mortgage trading loans, ABS and other MBS of $1.4 billion, AFS debt securities of $643 million, Other debt securities carried at fair value - Non-agency residential of $267 million, Other assets, including MSRs, of $2.0 billion, Loans and leases of $717 million and LHFS of $236 million. (3) Includes models such as Monte Carlo simulation and Black-Scholes. (4) Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. (5) The weighted-average life is a product of changes in market rates of interest, prepayment rates and other model and cash flow assumptions. 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, 2019 (Dollars in millions) Inputs Financial Instrument Fair Valuation Significant Unobservable Ranges of Weighted Average (1) Loans and Securities (2) Instruments backed by residential real estate assets $ 1,407 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans, ABS and other MBS 332 Prepayment speed 1% to 27% CPR 17% CPR Loans and leases 281 Default rate 0% to 3% CDR 1% CDR Loans held-for-sale 4 Loss severity 0% to 47% 14 % AFS debt securities, primarily non-agency residential 491 Price $0 to $160 $94 Other debt securities carried at fair value - Non-agency residential 299 Instruments backed by commercial real estate assets $ 303 Discounted cash flow Yield 0% to 30% 14 % Trading account assets – Corporate securities, trading loans and other 201 Price $0 to $100 $55 Trading account assets – Mortgage trading loans, ABS and other MBS 85 Loans held-for-sale 17 Commercial loans, debt securities and other $ 3,798 Discounted cash flow, Market comparables Yield 1% to 20% 6 % Trading account assets – Corporate securities, trading loans and other 1,306 Prepayment speed 10% to 20% 13 % Trading account assets – Non-U.S. sovereign debt 482 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans, ABS and other MBS 1,136 Loss severity 35% to 40% 38 % AFS debt securities – Tax-exempt securities 108 Price $0 to $142 $72 Loans and leases 412 Long-dated equity volatilities 35% n/a Loans held-for-sale 354 Other assets, primarily auction rate securities $ 815 Discounted cash flow, Market comparables Price $10 to $100 $96 MSRs $ 1,545 Discounted cash flow Weighted-average life, fixed rate (5) 0 to 14 years 5 years Weighted-average life, variable rate (5) 0 to 9 years 3 years Option-adjusted spread, fixed rate 7% to 14% 9 % Option-adjusted spread, variable rate 9% to 15% 11 % Structured liabilities Long-term debt $ (1,149) Discounted cash flow, Market comparables, Industry standard derivative pricing (3) Yield 2% to 6% 5 % Equity correlation 9% to 100% 63 % Long-dated equity volatilities 4% to 101% 32 % Price $0 to $116 $74 Natural gas forward price $1/MMBtu to $5/MMBtu $3/MMBtu Net derivative assets (liabilities) Credit derivatives $ 13 Discounted cash flow, Stochastic recovery correlation model Yield 5% n/a Upfront points 0 to 100 points 63 points Prepayment speed 15% to 100% CPR 22% CPR Default rate 1% to 4% CDR 2% CDR Loss severity 35% n/a Price $0 to $104 $73 Equity derivatives $ (1,081) Industry standard derivat

Fair Value Option

Fair Value Option	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Option	Fair Value Option Loans and Loan Commitments The Corporation elects to account for certain loans and loan commitments that exceed the Corporation’s single-name credit risk concentration guidelines under the fair value option. Lending commitments are actively managed and, as appropriate, credit risk for these lending relationships may be mitigated through the use of credit derivatives, with the Corporation’s public side credit view and market perspectives determining the size and timing of the hedging activity. These credit derivatives do not meet the requirements for designation as accounting hedges and therefore are carried at fair value. The fair value option allows the Corporation to carry these loans and loan commitments at fair value, which is more consistent with management’s view of the underlying economics and the manner in which they are managed. In addition, the fair value option allows the Corporation to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at historical cost and the credit derivatives at fair value. Loans Held-for-sale The Corporation elects to account for residential mortgage LHFS, commercial mortgage LHFS and certain other LHFS under the fair value option. These loans are actively managed and monitored and, as appropriate, certain market risks of the loans may be mitigated through the use of derivatives. The Corporation has elected not to designate the derivatives as qualifying accounting hedges, and therefore, they are carried at fair value. The changes in fair value of the loans are largely offset by changes in the fair value of the derivatives. The fair value option allows the Corporation to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value. The Corporation has not elected to account for certain other LHFS under the fair value option primarily because these loans are floating-rate loans that are not hedged using derivative instruments. Loans Reported as Trading Account Assets The Corporation elects to account for certain loans that are held for the purpose of trading and are risk-managed on a fair value basis under the fair value option. Other Assets The Corporation elects to account for certain long-term fixed-rate margin loans that are hedged with derivatives under the fair value option. Election of the fair value option allows the Corporation to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at historical cost and the derivatives at fair value. Securities Financing Agreements The Corporation elects to account for certain securities financing agreements, including resale and repurchase agreements, under the fair value option. These elections include certain agreements collateralized by the U.S. government and its agencies, which are generally short-dated and have minimal interest rate risk. Long-term Deposits The Corporation elects to account for certain long-term fixed-rate and rate-linked deposits that are hedged with derivatives that do not qualify for hedge accounting. Election of the fair value option allows the Corporation to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at historical cost and the derivatives at fair value. The Corporation has not elected to carry other long-term deposits at fair value because they are not hedged using derivatives. Short-term Borrowings The Corporation elects to account for certain short-term borrowings, primarily short-term structured liabilities, under the fair value option because this debt is risk-managed on a fair value basis. The Corporation elects to account for certain asset-backed secured financings, which are also classified in short-term borrowings, under the fair value option. Election of the fair value option allows the Corporation to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the asset-backed secured financings at historical cost and the corresponding mortgage LHFS securing these financings at fair value. Long-term Debt The Corporation elects to account for certain long-term debt, primarily structured liabilities, under the fair value option. This long-term debt is either risk-managed on a fair value basis or the related hedges do not qualify for hedge accounting. Fair Value Option Elections The following tables provide information about the fair value carrying amount and the contractual principal outstanding of assets and liabilities accounted for under the fair value option at December 31, 2020 and 2019, and 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 2020, 2019 and 2018. Fair Value Option Elections December 31, 2020 December 31, 2019 (Dollars in millions) Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Fair Value Contractual Principal Outstanding Fair Value Carrying Federal funds sold and securities borrowed or purchased under agreements to resell $ 108,856 $ 108,811 $ 45 $ 50,364 $ 50,318 $ 46 Loans reported as trading account assets (1) 7,967 17,372 (9,405) 6,989 14,703 (7,714) Trading inventory – other 22,790 n/a n/a 19,574 n/a n/a Consumer and commercial loans 6,681 6,778 (97) 8,335 8,372 (37) Loans held-for-sale (1) 1,585 2,521 (936) 3,709 4,879 (1,170) Other assets 200 n/a n/a 4 n/a n/a Long-term deposits 481 448 33 508 496 12 Federal funds purchased and securities loaned or sold under agreements to repurchase 135,391 135,390 1 16,008 16,029 (21) Short-term borrowings 5,874 5,178 696 3,941 3,930 11 Unfunded loan commitments 99 n/a n/a 90 n/a n/a Long-term debt 32,200 33,470 (1,270) 34,975 35,730 (755) (1) A significant portion of the loans reported as trading account assets and LHFS are distressed loans that were purchased at a deep discount to par, and the remainder are loans with a fair value near contractual principal outstanding. n/a = not applicable Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Market making and similar activities Other Total (Dollars in millions) 2020 Loans reported as trading account assets $ 107 $ — $ 107 Trading inventory – other (1) 3,216 — 3,216 Consumer and commercial loans 22 (3) 19 Loans held-for-sale (2) — 103 103 Short-term borrowings (170) — (170) Unfunded loan commitments — (65) (65) Long-term debt (3) (2,175) (53) (2,228) Other (4) 35 (22) 13 Total $ 1,035 $ (40) $ 995 2019 Loans reported as trading account assets $ 203 $ — $ 203 Trading inventory – other (1) 5,795 — 5,795 Consumer and commercial loans 92 12 104 Loans held-for-sale (2) — 98 98 Short-term borrowings (24) — (24) Unfunded loan commitments — 79 79 Long-term debt (3) (1,098) (78) (1,176) Other (4) 9 (27) (18) Total $ 4,977 $ 84 $ 5,061 2018 Loans reported as trading account assets $ 8 $ — $ 8 Trading inventory – other (1) 1,750 — 1,750 Consumer and commercial loans (422) (53) (475) Loans held-for-sale (2) 1 24 25 Short-term borrowings 2 — 2 Unfunded loan commitments — (49) (49) Long-term debt (3) 2,157 (93) 2,064 Other (4) 6 18 24 Total $ 3,502 $ (153) $ 3,349 (1) The gains in market making and similar activities are primarily offset by 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 net gains (losses) in market making and similar activities relate to the embedded derivatives in structured liabilities and are typically offset by (losses) gains on derivatives and securities that hedge these liabilities. For the cumulative impact of changes in the Corporation’s own credit spreads and the amount recognized in accumulated OCI, see Note 14 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation’s own credit spread is determined, see Note 20 – Fair Value Measurements. (4) Includes gains (losses) on federal funds sold and securities borrowed or purchased under agreements to resell, long-term deposits and federal funds purchased and securities loaned or sold under agreements to repurchase. Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option (Dollars in millions) 2020 2019 2018 Loans reported as trading account assets $ (172) $ 43 $ 6 Consumer and commercial loans (19) 15 (56) Loans held-for-sale (105) 57 (4) Unfunded loan commitments (65) 79 (94)

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial instruments are classified within the fair value hierarchy using the methodologies described in Note 20 – Fair Value Measurements . Certain loans, deposits, long-term debt, unfunded lending commitments and other financial instruments are accounted for under the fair value option. For more information, see Note 21 – Fair Value Option. The following disclosures include financial instruments that are not carried at fair value or only a portion of the ending balance is carried at fair value on the Consolidated Balance Sheet. Short-term Financial Instruments The carrying value of short-term financial instruments, including cash and cash equivalents, certain time deposits placed and other short-term investments, federal funds sold and purchased, certain resale and repurchase agreements and short-term borrowings, approximates the fair value of these instruments. These financial instruments generally expose the Corporation to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The Corporation accounts for certain resale and repurchase agreements under the fair value option. Under the fair value hierarchy, cash and cash equivalents are classified as Level 1. Time deposits placed and other short-term investments, such as U.S. government securities and short-term commercial paper, are classified as Level 1 or Level 2. Federal funds sold and purchased are classified as Level 2. Resale and repurchase agreements are classified as Level 2 because they are generally short-dated and/or variable-rate instruments collateralized by U.S. government or agency securities. Short-term borrowings are classified as Level 2. 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 December 31, 2020 and 2019 are presented in the following table. Fair Value of Financial Instruments Fair Value Carrying Value Level 2 Level 3 Total (Dollars in millions) December 31, 2020 Financial assets Loans $ 887,289 $ 49,372 $ 877,682 $ 927,054 Loans held-for-sale 9,243 7,864 1,379 9,243 Financial liabilities Deposits (1) 1,795,480 1,795,545 — 1,795,545 Long-term debt 262,934 271,315 1,164 272,479 Commercial unfunded lending commitments (2) 1,977 99 5,159 5,258 December 31, 2019 Financial assets Loans $ 950,093 $ 63,633 $ 914,597 $ 978,230 Loans held-for-sale 9,158 8,439 719 9,158 Financial liabilities Deposits (1) 1,434,803 1,434,809 — 1,434,809 Long-term debt 240,856 247,376 1,149 248,525 Commercial unfunded lending commitments (2) 903 90 4,777 4,867 (1) Includes demand deposits of $799.0 billion and $545.5 billion with no stated maturities at December 31, 2020 and 2019. (2) The carrying value of commercial unfunded lending commitments is included in accrued expenses and other liabilities on the Consolidated Balance Sheet. The Corporation does not estimate the fair value 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 12 – Commitments and Contingencies .

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Business Segment Information	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 . Consumer Banking Consumer Banking offers a diversified range of credit, banking and investment products and services to consumers and small businesses. Consumer Banking product offerings include traditional savings accounts, money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans to consumers and small businesses in the U.S. Consumer Banking includes the impact of servicing residential mortgages and home equity loans in the core portfolio. Global Wealth & Investment Management GWIM provides a high-touch client experience through a network of financial advisors focused on clients with over $250,000 in total investable assets, including tailored solutions to meet clients’ needs through a full set of investment management, brokerage, banking and retirement products. GWIM also provides comprehensive wealth management solutions targeted to high net worth and ultra high net worth clients, as well as customized solutions to meet clients’ wealth structuring, investment management, trust and banking needs, including specialty asset management services. Global Banking Global Banking provides a wide range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services through the Corporation’s network of offices and client relationship teams. Global Banking also provides investment banking products to clients. The economics of certain investment banking and underwriting activities are shared primarily between Global Banking and Global Markets under an internal revenue-sharing arrangement. Global Banking clients generally include middle-market companies, commercial real estate firms, not-for-profit companies, large global corporations, financial institutions, leasing clients, and mid-sized U.S.-based businesses requiring customized and integrated financial advice and solutions. Global Markets Global Markets offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity and equity businesses. Global Markets provides market-making, financing, securities clearing, settlement and custody services globally to institutional investor clients in support of their investing and trading activities. Global Markets product coverage includes securities and derivative products in both the primary and secondary markets. Global Markets also works with commercial and corporate clients to provide risk management products. As a result of market-making activities, Global Markets may be required to manage risk in a broad range of financial products. In addition, the economics of certain investment banking and underwriting activities are shared primarily between Global Markets and Global Banking under an internal revenue-sharing arrangement. All Other All Other consists of ALM activities, equity investments, non-core mortgage loans and servicing activities, liquidating businesses and certain expenses not otherwise allocated to business segments. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities. Substantially all of the results of ALM activities are allocated to the business segments. Basis of Presentation The management accounting and reporting process derives segment and business results by utilizing allocation methodologies for revenue and expense. The net income derived for the businesses is dependent upon revenue and cost allocations using an activity-based costing model, funds transfer pricing, and other methodologies and assumptions management believes are appropriate to reflect the results of the business. Total revenue, net of interest expense, includes net interest income on an FTE basis and noninterest income. The adjustment of net interest income to an FTE basis results in a corresponding increase in income tax expense. The segment results also reflect certain revenue and expense methodologies that are utilized to determine net income. The net interest income of the businesses includes the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics. In segments where the total of liabilities and equity exceeds assets, which are generally deposit-taking segments, the Corporation allocates assets to match liabilities. Net interest income of the business segments also includes an allocation of net interest income generated by certain of the Corporation’s ALM activities. The Corporation’s ALM activities include an overall interest rate risk management strategy that incorporates the use of various derivatives and cash instruments to manage fluctuations in earnings and capital that are caused by interest rate volatility. The Corporation’s goal is to manage interest rate sensitivity so that movements in interest rates do not significantly adversely affect earnings and capital. The results of substantially all of the Corporation’s ALM activities are allocated to the business segments and fluctuate based on the performance of the ALM activities. ALM activities include external product pricing decisions including deposit pricing strategies, the effects of the Corporation’s internal funds transfer pricing process and the net effects of other ALM activities. Certain expenses not directly attributable to a specific business segment are allocated to the segments. The costs of certain centralized or shared functions are allocated based on methodologies that reflect utilization. The following table presents net income (loss) and the components thereto (with net interest income on an FTE basis for the business segments, All Other and the total Corporation) for 2020, 2019 and 2018, and total assets at December 31, 2020 and 2019 for each business segment, as well as All Other. Results of Business Segments and All Other At and for the year ended December 31 Total Corporation (1) Consumer Banking (Dollars in millions) 2020 2019 2018 2020 2019 2018 Net interest income $ 43,859 $ 49,486 $ 48,772 $ 24,698 $ 28,158 $ 27,025 Noninterest income 42,168 42,353 42,858 8,564 10,429 10,593 Total revenue, net of interest expense 86,027 91,839 91,630 33,262 38,587 37,618 Provision for credit losses 11,320 3,590 3,282 5,765 3,772 3,664 Noninterest expense 55,213 54,900 53,154 18,878 17,646 17,672 Income before income taxes 19,494 33,349 35,194 8,619 17,169 16,282 Income tax expense 1,600 5,919 7,047 2,112 4,207 4,150 Net income $ 17,894 $ 27,430 $ 28,147 $ 6,507 $ 12,962 $ 12,132 Period-end total assets $ 2,819,627 $ 2,434,079 $ 988,580 $ 804,093 Global Wealth & Investment Management Global Banking 2020 2019 2018 2020 2019 2018 Net interest income $ 5,468 $ 6,504 $ 6,265 $ 9,013 $ 10,675 $ 10,993 Noninterest income 13,116 13,034 13,188 9,974 9,808 9,008 Total revenue, net of interest expense 18,584 19,538 19,453 18,987 20,483 20,001 Provision for credit losses 357 82 86 4,897 414 8 Noninterest expense 14,154 13,825 14,015 9,337 9,011 8,745 Income before income taxes 4,073 5,631 5,352 4,753 11,058 11,248 Income tax expense 998 1,380 1,364 1,283 2,985 2,923 Net income $ 3,075 $ 4,251 $ 3,988 $ 3,470 $ 8,073 $ 8,325 Period-end total assets $ 369,736 $ 299,770 $ 580,561 $ 464,032 Global Markets All Other 2020 2019 2018 2020 2019 2018 Net interest income $ 4,646 $ 3,915 $ 3,857 $ 34 $ 234 $ 632 Noninterest income 14,120 11,699 12,326 (3,606) (2,617) (2,257) Total revenue, net of interest expense 18,766 15,614 16,183 (3,572) (2,383) (1,625) Provision for credit losses 251 (9) — 50 (669) (476) Noninterest expense 11,422 10,728 10,835 1,422 3,690 1,887 Income (loss) before income taxes 7,093 4,895 5,348 (5,044) (5,404) (3,036) Income tax expense (benefit) 1,844 1,395 1,390 (4,637) (4,048) (2,780) Net income (loss) $ 5,249 $ 3,500 $ 3,958 $ (407) $ (1,356) $ (256) Period-end total assets $ 616,609 $ 641,809 $ 264,141 $ 224,375 (1) There were no material intersegment revenues. The table below presents noninterest income and the associated components for 2020, 2019 and 2018 for each business segment, All Other and the total Corporation. For more information, see Note 2 – Net Interest Income and Noninterest Income. Noninterest Income by Business Segment and All Other Total Corporation Consumer Banking Global Wealth & (Dollars in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Fees and commissions: Card income Interchange fees $ 3,954 $ 3,834 $ 3,866 $ 3,027 $ 3,174 $ 3,196 $ 36 $ 59 $ 81 Other card income 1,702 1,963 1,958 1,646 1,910 1,907 42 42 46 Total card income 5,656 5,797 5,824 4,673 5,084 5,103 78 101 127 Service charges Deposit-related fees 5,991 6,588 6,667 3,417 4,218 4,300 67 68 73 Lending-related fees 1,150 1,086 1,100 — — — — — — Total service charges 7,141 7,674 7,767 3,417 4,218 4,300 67 68 73 Investment and brokerage services Asset management fees 10,708 10,241 10,189 146 144 147 10,578 10,130 10,042 Brokerage fees 3,866 3,661 3,971 127 149 172 1,692 1,740 1,917 Total investment and brokerage services 14,574 13,902 14,160 273 293 319 12,270 11,870 11,959 Investment banking fees Underwriting income 4,698 2,998 2,722 — — — 391 401 335 Syndication fees 861 1,184 1,347 — — — — — — Financial advisory services 1,621 1,460 1,258 — — — — — 2 Total investment banking fees 7,180 5,642 5,327 — — — 391 401 337 Total fees and commissions 34,551 33,015 33,078 8,363 9,595 9,722 12,806 12,440 12,496 Market making and similar activities 8,355 9,034 9,008 2 6 8 63 113 112 Other income (loss) (738) 304 772 199 828 863 247 481 580 Total noninterest income $ 42,168 $ 42,353 $ 42,858 $ 8,564 $ 10,429 $ 10,593 $ 13,116 $ 13,034 $ 13,188 Global Banking Global Markets All Other (1) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Fees and commissions: Card income Interchange fees $ 499 $ 519 $ 503 $ 391 $ 81 $ 86 $ 1 $ 1 $ — Other card income 14 13 8 — (1) (2) — (1) (1) Total card income 513 532 511 391 80 84 1 — (1) Service charges Deposit-related fees 2,298 2,121 2,111 177 156 161 32 25 22 Lending-related fees 940 894 916 210 192 184 — — — Total service charges 3,238 3,015 3,027 387 348 345 32 25 22 Investment and brokerage services Asset management fees — — — — — — (16) (33) — Brokerage fees 74 34 94 1,973 1,738 1,780 — — 8 Total investment and brokerage services 74 34 94 1,973 1,738 1,780 (16) (33) 8 Investment banking fees Underwriting income 2,070 1,227 1,090 2,449 1,555 1,495 (212) (185) (198) Syndication fees 482 574 648 379 610 698 — — 1 Financial advisory services 1,458 1,336 1,153 163 123 103 — 1 — Total investment banking fees 4,010 3,137 2,891 2,991 2,288 2,296 (212) (184) (197) Total fees and commissions 7,835 6,718 6,523 5,742 4,454 4,505 (195) (192) (168) Market making and similar activities 103 235 260 8,471 7,065 7,260 (284) 1,615 1,368 Other income (loss) 2,036 2,855 2,225 (93) 180 561 (3,127) (4,040) (3,457) Total noninterest income $ 9,974 $ 9,808 $ 9,008 $ 14,120 $ 11,699 $ 12,326 $ (3,606) $ (2,617) $ (2,257) (1) All Other includes eliminations of intercompany transactions. Business Segment Reconciliations (Dollars in millions) 2020 2019 2018 Segments’ total revenue, net of interest expense $ 89,599 $ 94,222 $ 93,255 Adjustments (1) : ALM activities 375 241 (325) Liquidating businesses, eliminations and other (3,947) (2,624) (1,300) FTE basis adjustment (499) (595) (610) Consolidated revenue, net of interest expense $ 85,528 $ 91,244 $ 91,020 Segments’ total net income 18,301 28,786 28,403 Adjustments, net-of-tax (1) : ALM activities 279 202 (222) Liquidating businesses, eliminations and other (686) (1,558) (34) Consolidated net income $ 17,894 $ 27,430 $ 28,147 December 31 2020 2019 Segments’ total assets $ 2,555,486 $ 2,209,704 Adjustments (1) : ALM activities, including securities portfolio 1,176,071 721,806 Elimination of segment asset allocations to match liabilities (977,685) (565,378) Other 65,755 67,947 Consolidated total assets $ 2,819,627 $ 2,434,079 (1) Adjustments include consolidated income, expense and asset amounts not specifically allocated to individual business segments.

Parent Company Information

Parent Company Information	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Parent Company Information	Parent Company Information The following tables present the Parent Company-only financial information. Condensed Statement of Income (Dollars in millions) 2020 2019 2018 Income Dividends from subsidiaries: Bank holding companies and related subsidiaries $ 10,352 $ 27,820 $ 28,575 Nonbank companies and related subsidiaries — — 91 Interest from subsidiaries 8,825 9,502 8,425 Other income (loss) (138) 74 (1,025) Total income 19,039 37,396 36,066 Expense Interest on borrowed funds from related subsidiaries 136 451 235 Other interest expense 4,119 5,899 6,425 Noninterest expense 1,651 1,641 1,600 Total expense 5,906 7,991 8,260 Income before income taxes and equity in undistributed earnings of subsidiaries 13,133 29,405 27,806 Income tax expense (benefit) 649 341 (281) Income before equity in undistributed earnings of subsidiaries 12,484 29,064 28,087 Equity in undistributed earnings (losses) of subsidiaries: Bank holding companies and related subsidiaries 5,372 (1,717) 306 Nonbank companies and related subsidiaries 38 83 (246) Total equity in undistributed earnings of subsidiaries 5,410 (1,634) 60 Net income $ 17,894 $ 27,430 $ 28,147 Condensed Balance Sheet December 31 (Dollars in millions) 2020 2019 Assets Cash held at bank subsidiaries (1) $ 5,893 $ 5,695 Securities 701 656 Receivables from subsidiaries: Bank holding companies and related subsidiaries 206,566 173,301 Banks and related subsidiaries 213 51 Nonbank companies and related subsidiaries 410 391 Investments in subsidiaries: Bank holding companies and related subsidiaries 305,818 297,465 Nonbank companies and related subsidiaries 3,715 3,663 Other assets 9,850 9,438 Total assets $ 533,166 $ 490,660 Liabilities and shareholders’ equity Accrued expenses and other liabilities $ 15,965 $ 13,381 Payables to subsidiaries: Banks and related subsidiaries 129 458 Nonbank companies and related subsidiaries 11,067 12,102 Long-term debt 233,081 199,909 Total liabilities 260,242 225,850 Shareholders’ equity 272,924 264,810 Total liabilities and shareholders’ equity $ 533,166 $ 490,660 (1) Balance includes third-party cash held of $7 million and $4 million at December 31, 2020 and 2019. Condensed Statement of Cash Flows (Dollars in millions) 2020 2019 2018 Operating activities Net income $ 17,894 $ 27,430 $ 28,147 Reconciliation of net income to net cash provided by (used in) operating activities: Equity in undistributed (earnings) losses of subsidiaries (5,410) 1,634 (60) Other operating activities, net 14,303 16,973 (3,706) Net cash provided by operating activities 26,787 46,037 24,381 Investing activities Net sales (purchases) of securities (4) (17) 51 Net payments to subsidiaries (33,111) (19,121) (2,262) Other investing activities, net (7) 7 48 Net cash used in investing activities (33,122) (19,131) (2,163) Financing activities Net increase (decrease) in other advances (422) (1,625) 3,867 Proceeds from issuance of long-term debt 43,766 29,315 30,708 Retirement of long-term debt (23,168) (21,039) (29,413) Proceeds from issuance of preferred stock 2,181 3,643 4,515 Redemption of preferred stock (1,072) (2,568) (4,512) Common stock repurchased (7,025) (28,144) (20,094) Cash dividends paid (7,727) (5,934) (6,895) Net cash provided by (used in) financing activities 6,533 (26,352) (21,824) Net increase in cash held at bank subsidiaries 198 554 394 Cash held at bank subsidiaries at January 1 5,695 5,141 4,747 Cash held at bank subsidiaries at December 31 $ 5,893 $ 5,695 $ 5,141

Performance by Geographical Are

Performance by Geographical Area	12 Months Ended
	Dec. 31, 2020
Segments, Geographical Areas [Abstract]
Performance by Geographical Area	Performance by Geographical AreaThe Corporation’s operations are highly integrated with operations in both U.S. and non-U.S. markets. The non-U.S. business activities are largely conducted in Europe, the Middle East and Africa and in Asia. The Corporation identifies its geographic performance based on the business unit structure used to manage the capital or expense deployed in the region as applicable. This requires certain judgments related to the allocation of revenue so that revenue can be appropriately matched with the related capital or expense deployed in the region. Certain asset, liability, income and expense amounts have been allocated to arrive at total assets, total revenue, net of interest expense, income before income taxes and net income by geographic area as presented below. (Dollars in millions) Total Assets at Year End (1) Total Revenue, Net of Interest Expense (2) Income Before Income Taxes Net Income U.S. (3) 2020 $ 2,490,247 $ 75,576 $ 18,247 $ 16,692 2019 2,122,734 81,236 30,699 25,937 2018 80,777 31,904 26,407 Asia 2020 99,283 4,232 1,051 788 2019 102,440 3,491 765 570 2018 3,507 865 520 Europe, Middle East and Africa 2020 202,701 4,491 (596) 264 2019 178,889 5,310 921 672 2018 5,632 1,543 1,126 Latin America and the Caribbean 2020 27,396 1,229 293 150 2019 30,016 1,207 369 251 2018 1,104 272 94 Total Non-U.S. 2020 329,380 9,952 748 1,202 2019 311,345 10,008 2,055 1,493 2018 10,243 2,680 1,740 Total Consolidated 2020 $ 2,819,627 $ 85,528 $ 18,995 $ 17,894 2019 2,434,079 91,244 32,754 27,430 2018 91,020 34,584 28,147 (1) Total assets include long-lived assets, which are primarily located in the U.S. (2) There were no material intercompany revenues between geographic regions for any of the periods presented. (3) Substantially reflects the U.S.

Summary of Significant Accoun_2

Summary of Significant Accounting Principles (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	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.
Basis of Presentation	The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could materially differ from those estimates and assumptions. Certain prior-period amounts have been reclassified to conform to current period presentation.
Accounting Standards	New Accounting Standards Accounting for Financial Instruments -- Credit Losses On January 1, 2020, the Corporation adopted the new accounting standard that requires the measurement of the allowance for credit losses to be based on management’s best estimate of lifetime expected credit losses (ECL) inherent in the Corporation’s relevant financial assets. Upon adoption of the standard on January 1, 2020, the Corporation recorded a $3.3 billion, or 32 percent, increase to the allowance for credit losses. After adjusting for deferred taxes and other adoption effects, a $2.4 billion decrease was recorded in retained earnings through a cumulative-effect adjustment. Prior to January 1, 2020, the allowance for credit losses was determined based on management’s estimate of probable incurred losses. Reference Rate Reform The Financial Accounting Standards Board (FASB) issued a new accounting standard in March 2020, which was subsequently amended in January 2021, related to contracts or hedging relationships that reference London Interbank Offered Rate (LIBOR) or other reference rates that are expected to be discontinued due to reference rate reform. The new standard provides for optional expedients and other guidance regarding the accounting related to modifications of contracts, hedging
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash items in the process of collection, cash segregated under federal and other brokerage regulations, and amounts due from correspondent banks, the Federal Reserve Bank and certain non-U.S. central banks. Certain cash balances are restricted as to withdrawal or usage by legally binding contractual agreements or regulatory requirements.
Securities Financing Agreements	Securities Financing Agreements Securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase (securities financing agreements) are treated as collateralized financing transactions except in instances where the transaction is required to be accounted for as individual sale and purchase transactions. Generally, these agreements are recorded at acquisition or sale price plus accrued interest, except for securities financing agreements that the Corporation accounts for under the fair value option. Changes in the fair value of securities financing agreements that are accounted for under the fair value option are recorded in market making and similar activities in the Consolidated Statement of Income. The Corporation’s policy is to monitor the market value of the principal amount loaned under resale agreements and obtain collateral from or return collateral pledged to counterparties when appropriate. Securities financing agreements do not create material credit risk due to these collateral provisions; therefore, an allowance for loan losses is not necessary. In transactions where the Corporation acts as the lender in a securities lending agreement and receives securities that can be pledged or sold as collateral, it recognizes an asset on the Consolidated Balance Sheet at fair value, representing the securities received, and a liability, representing the obligation to return those securities.
Collateral	Collateral The Corporation accepts securities and loans as collateral that it is permitted by contract or practice to sell or repledge. At December 31, 2020 and 2019, the fair value of this collateral was $812.4 billion and $693.0 billion, of which $758.5 billion and $593.8 billion were sold or repledged. The primary source of this collateral is securities borrowed or purchased under agreements to resell. The Corporation also pledges company-owned securities and loans as collateral in transactions that include repurchase agreements, securities loaned, public and trust deposits, U.S. Treasury tax and loan notes, and short-term borrowings. This collateral, which in some cases can be sold or repledged by the counterparties to the transactions, is parenthetically disclosed on the Consolidated Balance Sheet. In certain cases, the Corporation has transferred assets to consolidated VIEs where those restricted assets serve as collateral for the interests issued by the VIEs. These assets are included on the Consolidated Balance Sheet in Assets of Consolidated VIEs.
Trading Instruments	Trading Instruments Financial instruments utilized in trading activities are carried at fair value. Fair value is generally based on quoted market prices for the same or similar assets and liabilities. If these market prices are not available, fair values are estimated based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques where the determination of fair value may require significant management judgment or estimation. Realized gains and losses are recorded on a trade-date basis. Realized and unrealized gains and losses are recognized in market making and similar activities.
Derivatives and Hedging Activities, Trading Derivatives and Other Risk Management Activities, and Derivatives Used for Hedge Accounting Purposes (Accounting Hedges)	Derivatives and Hedging Activities 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 are both designated in qualifying accounting hedge relationships and derivatives used to hedge market risks in relationships that are not designated in qualifying accounting hedge relationships (referred to as other risk management activities). The Corporation manages interest rate and foreign currency exchange rate sensitivity predominantly through the use of derivatives. Derivatives utilized by the Corporation include swaps, futures and forward settlement contracts, and option contracts. All derivatives are recorded on the Consolidated Balance Sheet at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow the Corporation to settle positive and negative positions and offset cash collateral held with the same counterparty on a net basis. For exchange-traded contracts, fair value is based on quoted market prices in active or inactive markets or is derived from observable market-based pricing parameters, similar to those applied to over-the-counter (OTC) derivatives. For non-exchange traded contracts, fair value is based on dealer quotes, pricing models, discounted cash flow methodologies or similar techniques for which the determination of fair value may require significant management judgment or estimation. Valuations of derivative assets and liabilities reflect the value of the instrument including counterparty credit risk. These values also take into account the Corporation’s own credit standing. Trading Derivatives and Other Risk Management Activities Derivatives held for trading purposes are included in derivative assets or derivative liabilities on the Consolidated Balance Sheet with changes in fair value included in market making and similar activities. Derivatives used for other risk management activities are included in derivative assets or derivative liabilities. Derivatives used in other risk management activities have not been designated in qualifying accounting hedge relationships because they did not qualify or the risk that is being mitigated pertains to an item that is reported at fair value through earnings so that the effect of measuring the derivative instrument and the asset or liability to which the risk exposure pertains will offset in the Consolidated Statement of Income to the extent effective. The changes in the fair value of derivatives that serve to mitigate certain risks associated with mortgage servicing rights (MSRs), interest rate lock commitments (IRLCs) and first-lien mortgage loans held-for-sale (LHFS) that are originated by the Corporation are recorded in other income. Changes in the fair value of derivatives that serve to mitigate interest rate risk and foreign currency risk are included in market making and similar activities. Credit derivatives are also used by the Corporation to mitigate the risk associated with various credit exposures. The changes in the fair value of these derivatives are included in market making and similar activities and other income. Derivatives Used For Hedge Accounting Purposes (Accounting Hedges) For accounting hedges, the Corporation formally documents at inception all relationships between hedging instruments and hedged items, as well as the risk management objectives and strategies for undertaking various accounting hedges. Additionally, the Corporation primarily uses regression analysis at the inception of a hedge and for each reporting period thereafter to assess whether the derivative used in an accounting hedge transaction is expected to be and has been highly effective in offsetting changes in the fair value or cash flows of a hedged item or forecasted transaction. The Corporation discontinues hedge accounting when it is determined that a derivative is not expected to be or has ceased to be highly effective as a hedge, and then reflects changes in fair value of the derivative in earnings after termination of the hedge relationship. Fair value hedges are used to protect against changes in the fair value of the Corporation’s assets and liabilities that are attributable to interest rate or foreign exchange volatility. Changes in the fair value of derivatives designated as fair value hedges are recorded in earnings, together and in the same income statement line item with changes in the fair value of the related hedged item. If a derivative instrument in a fair value hedge is terminated or the hedge designation removed, the previous adjustments to the carrying value of the hedged asset or liability are subsequently accounted for in the same manner as other components of the carrying value of that asset or liability. For interest-earning assets and interest-bearing liabilities, such adjustments are amortized to earnings over the remaining life of the respective asset or liability. Cash flow hedges are used primarily to minimize the variability in cash flows of assets and liabilities or forecasted transactions caused by interest rate or foreign exchange rate fluctuations. The Corporation also uses cash flow hedges to hedge the price risk associated with deferred compensation. Changes in the fair value of derivatives used in cash flow hedges are recorded in accumulated other comprehensive income (OCI) and are reclassified into the line item in the income statement in which the hedged item is recorded in the same period the hedged item affects earnings. Components of a derivative that are excluded in assessing hedge effectiveness are recorded in the same income statement line item as the hedged item. Net investment hedges are used to manage the foreign exchange rate sensitivity arising from a net investment in a foreign operation. Changes in the spot prices of derivatives that are designated as net investment hedges of foreign operations are recorded as a component of accumulated OCI. The remaining components of these derivatives are excluded in
Securities	Securities Debt securities are reported on the Consolidated Balance Sheet at their trade date. Their classification is dependent on the purpose for which the securities were acquired. Debt securities purchased for use in the Corporation’s trading activities are reported in trading account assets at fair value with unrealized gains and losses included in market making and similar activities. Substantially all other debt securities purchased are used in the Corporation’s asset and liability management (ALM) activities and are reported on the Consolidated Balance Sheet as either debt securities carried at fair value or as held-to-maturity (HTM) debt securities. Debt securities carried at fair value are either available-for-sale (AFS) securities with unrealized gains and losses net-of-tax included in accumulated OCI or carried at fair value with unrealized gains and losses reported in market making and similar activities. HTM debt securities are debt securities that management has the intent and ability to hold to maturity and are reported at amortized cost. The Corporation evaluates each AFS security where the value has declined below amortized cost. If the Corporation intends to sell or believes it is more likely than not that it will be required to sell the debt security, it is written down to fair value through earnings. For AFS debt securities the Corporation intends to hold, the Corporation evaluates the debt securities for ECL except for debt securities that are guaranteed by the U.S. Treasury, U.S. government agencies or sovereign entities of high credit quality where the Corporation applies a zero credit loss assumption. For the remaining AFS debt securities, the Corporation considers qualitative parameters such as internal and external credit ratings and the value of underlying collateral. If an AFS debt security fails any of the qualitative parameters, a discounted cash flow analysis is used by the Corporation to determine if a portion of the unrealized loss is a result of an expected credit loss. The Corporation will then recognize either credit loss expense or a reversal of credit loss expense in other income for the amount necessary to adjust the debt securities valuation allowance to its current estimate of excepted credit losses. Cash flows expected to be collected are estimated using all relevant information available such as remaining payment terms, prepayment speeds, the financial condition of the issuer, expected defaults and the value of the underlying collateral. If any of the decline in fair value is related to market factors, that amount is recognized in accumulated OCI. In certain instances, the credit loss may exceed the total decline in fair value, in which case, the allowance recorded is limited to the difference between the amortized cost and the fair value of the asset. The Corporation separately evaluates its HTM debt securities for any credit losses, of which substantially all qualify for the zero loss assumption. For the remaining securities, the Corporation performs a discounted cash flow analysis to estimate any credit losses which are then recognized as part of the allowance for credit losses. Interest on debt securities, including amortization of premiums and accretion of discounts, is included in interest income. Premiums and discounts are amortized or accreted to interest income at a constant effective yield over the contractual lives of the securities. Realized gains and losses from the sales of debt securities are determined using the specific identification method.
Loans and Leases	Loans and Leases Loans, with the exception of loans accounted for under the fair value option, are measured at historical cost and reported at their outstanding principal balances net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans, and for purchased loans, net of any unamortized premiums or discounts. Loan origination fees and certain direct origination costs are deferred and recognized as adjustments to interest income over the lives of the related loans. Unearned income, discounts and premiums are amortized to interest income using a level yield methodology. The Corporation elects to account for certain consumer and commercial loans under the fair value option with interest reported in interest income and changes in fair value reported in market making and similar activities or other income. Under applicable accounting guidance, for reporting purposes, the loan and lease portfolio is categorized by portfolio segment and, within each portfolio segment, by class of financing receivables. A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine the allowance for credit losses, and a class of financing receivables is defined as the level of disaggregation of portfolio segments based on the initial measurement attribute, risk characteristics and methods for assessing risk. The Corporation’s three portfolio segments are Consumer Real Estate, Credit Card and Other Consumer, and Commercial. The classes within the Consumer Real Estate portfolio segment are residential mortgage and home equity . The classes within the Credit Card and Other Consumer portfolio segment are credit card, direct/indirect consumer and other consumer. The classes within the Commercial portfolio segment are U.S. commercial, non-U.S. commercial, commercial real estate, commercial lease financing and U.S. small business commercial. Leases The Corporation provides equipment financing to its customers through a variety of lessor arrangements. Direct financing leases and sales-type leases are carried at the aggregate of lease payments receivable plus the estimated residual value of the leased property less unearned income, which is accreted to interest income over the lease terms using methods that approximate the interest method. Operating lease income is recognized on a straight-line basis. The Corporation's lease arrangements generally do not contain non-lease components.
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses includes both the allowance for loan and lease losses and the reserve for unfunded lending commitments and represents management’s estimate of the ECL in the Corporation’s loan and lease portfolio, excluding loans and unfunded lending commitments accounted for under the fair value option. The ECL on funded consumer and commercial loans and leases is referred to as the allowance for loan and lease losses and is reported separately as a contra-asset to loans and leases on the Consolidated Balance Sheet. The ECL for unfunded lending commitments, including home equity lines of credit (HELOCs), standby letters of credit (SBLCs) and binding unfunded loan commitments is reported on the Consolidated Balance Sheet in accrued expenses and other liabilities. The provision for credit losses related to the loan and lease portfolio and unfunded lending commitments is reported in the Consolidated Statement of Income. For loans and leases, the ECL is typically estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio as well as an economic outlook over the life of the loan. The life of the loan for closed-ended products is based on the contractual maturity of the loan adjusted for any expected prepayments. The contractual maturity includes any extension options that are at the sole discretion of the borrower. For open-ended products (e.g., lines of credit), the ECL is determined based on the maximum repayment term associated with future draws from credit lines unless those lines of credit are unconditionally cancellable (e.g., credit cards) in which case the Corporation does not record any allowance. In its loss forecasting framework, the Corporation incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, unemployment rates, real estate prices, gross domestic product levels and corporate bond spreads. As any one economic outlook is inherently uncertain, the Corporation leverages multiple scenarios. The scenarios that are chosen each quarter and the weighting given to each scenario depend on a variety of factors including recent economic events, leading economic indicators, views of internal and third-party economists and industry trends. The estimate of credit losses includes expected recoveries of amounts previously charged off (i.e., negative allowance). If a loan has been charged off, the expected cash flows on the loan are not limited by the current amortized cost balance. Instead, expected cash flows can be assumed up to the unpaid principal balance immediately prior to the charge-off. The allowance for loan and lease losses for troubled debt restructurings (TDR) is measured based on the present value of projected future lifetime principal and interest cash flows discounted at the loan’s original effective interest rate, or in cases where foreclosure is probable or the loan is collateral dependent, at the loan’s collateral value or its observable market price, if available. The measurement of ECL for the renegotiated consumer credit card TDR portfolio is based on the present value of projected cash flows discounted using the average TDR portfolio contractual interest rate, excluding promotionally priced loans, in effect prior to restructuring. Projected cash flows for TDRs use the same economic outlook as discussed above. For purposes of computing this specific loss component of the allowance, larger impaired loans are evaluated individually and smaller impaired loans are evaluated as a pool. Also included in the allowance for loan and lease losses are qualitative reserves to cover losses that are expected but, in the Corporation's assessment, may not be adequately reflected in the quantitative methods or the economic assumptions described above. For example, factors that the Corporation considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and nonaccrual loans, the effect of external factors such as competition, and legal and regulatory requirements, among others. Further, the Corporation considers the inherent uncertainty in quantitative models that are built on historical data. With the exception of the Corporation's credit card portfolio, the Corporation does not include reserves for interest receivable in the measurement of the allowance for credit losses as the Corporation generally classifies consumer loans as nonperforming at 90 days past due and reverses interest income for these loans at that time. For credit card loans, the Corporation reserves for interest and fees as part of the allowance for loan and lease losses. Upon charge-off of a credit card loan, the Corporation reverses the interest and fee income against the income statement line item where it was originally recorded. The Corporation has identified the following three portfolio segments and measures the allowance for credit losses using the following methods. Consumer Real Estate To estimate ECL for consumer loans secured by residential real estate, the Corporation estimates the number of loans that will default over the life of the existing portfolio, after factoring in estimated prepayments, using quantitative modeling methodologies. The attributes that are most significant in estimating the Corporation’s ECL include refreshed loan-to-value (LTV) or, in the case of a subordinated lien, refreshed combined LTV (CLTV), borrower credit score, months since origination and geography, all of which are further broken down by present collection status (whether the loan is current, delinquent, in default, or in bankruptcy). The estimates are based on the Corporation’s historical experience with the loan portfolio, adjusted to reflect the economic outlook. The outlook on the unemployment rate and consumer real estate prices are key factors that impact the frequency and severity of loss estimates. The Corporation does not reserve for credit losses on the unpaid principal balance of loans insured by the Federal Housing Administration (FHA) and long-term standby loans, as these loans are fully insured. The Corporation records a reserve for unfunded lending commitments for the ECL associated with the undrawn portion of the Corporation’s HELOCs, which can only be canceled by the Corporation if certain criteria are met. The ECL associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. For loans that are more than 180 days past due and collateral-dependent TDRs, the Corporation bases the allowance on the estimated fair value of the underlying collateral as of the reporting date less costs to sell. The fair value of the collateral securing these loans is generally determined using an automated valuation model (AVM) that estimates the value of a property by reference to market data including sales of comparable properties and price trends specific to the Metropolitan Statistical Area in which the property being valued is located. In the event that an AVM value is not available, the Corporation utilizes publicized indices or if these methods provide less reliable valuations, the Corporation uses appraisals or broker price opinions to estimate the fair value of the collateral. While there is inherent imprecision in these valuations, the Corporation believes that they are representative of this portfolio in the aggregate. For loans that are more than 180 days past due and collateral-dependent TDRs, with the exception of the Corporation’s fully insured portfolio, the outstanding balance of loans that is in excess of the estimated property value after adjusting for costs to sell is charged off. If the estimated property value decreases in periods subsequent to the initial charge-off, the Corporation will record an additional charge-off; however, if the value increases in periods subsequent to the charge-off, the Corporation will adjust the allowance to account for the increase but not to a level above the cumulative charge-off amount. Credit Cards and Other Consumer Credit cards are revolving lines of credit without a defined maturity date. The estimated life of a credit card receivable is determined by estimating the amount and timing of expected future payments (e.g., borrowers making full payments, minimum payments or somewhere in between) that it will take for a receivable balance to pay off. The ECL on the future payments incorporates the spending behavior of a borrower through time using key borrower-specific factors and the economic outlook described above. The Corporation applies all expected payments in accordance with the Credit Card Accountability Responsibility and Disclosure Act of 2009 (i.e., paying down the highest interest rate bucket first). Then forecasted future payments are prioritized to pay off the oldest balance until it is brought to zero or an expected charge-off amount. Unemployment rate outlook, borrower credit score, delinquency status and historical payment behavior are all key inputs into the credit card receivable loss forecasting model. Future draws on the credit card lines are excluded from the ECL as they are unconditionally cancellable. The ECL for the consumer vehicle lending portfolio is also determined using quantitative methods supplemented with qualitative analysis. The quantitative model estimates ECL giving consideration to key borrower and loan characteristics such as delinquency status, borrower credit score, LTV ratio, underlying collateral type and collateral value. Commercial The ECL on commercial loans is forecasted using models that estimate credit losses over the loan’s contractual life at an individual loan level. The models use the contractual terms to forecast future principal cash flows while also considering expected prepayments. For open-ended commitments such as revolving lines of credit, changes in funded balance are captured by forecasting a borrower’s draw and payment behavior over the remaining life of the commitment. For loans collateralized with commercial real estate and for which the underlying asset is the primary source of repayment, the loss forecasting models consider key loan and customer attributes such as LTV ratio, net operating income and debt service coverage, and captures variations in behavior according to property type and region. The outlook on the unemployment rate, gross domestic product, and forecasted real estate prices are utilized to determine indicators such as rent levels and vacancy rates, which impact the ECL estimate. For all other commercial loans and leases, the loss forecasting model determines the probabilities of transition to different credit risk ratings or default at each point over the life of the asset based on the borrower’s current credit risk rating, industry sector, size of the exposure and the geographic market. The severity of loss is determined based on the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook, and the model considers key economic variables such as unemployment rate, gross domestic product, corporate bond spreads, real estate and other asset prices and equity market returns.
Nonperforming Loans and Leases, Charge-offs and Delinquencies	Nonperforming Loans and Leases, Charge-offs and Delinquencies Nonperforming loans and leases generally include loans and leases that have been placed on nonaccrual status. Loans accounted for under the fair value option and LHFS are not reported as nonperforming. In accordance with the Corporation’s policies, consumer real estate-secured loans, including residential mortgages and home equity loans, are generally placed on nonaccrual status and classified as nonperforming at 90 days past due unless repayment of the loan is insured by the FHA or through individually insured long-term standby agreements with Fannie Mae (FNMA) or Freddie Mac (FHLMC) (the fully-insured portfolio). Residential mortgage loans in the fully-insured portfolio are not placed on nonaccrual status and, therefore, are not reported as nonperforming. Junior-lien home equity loans are placed on nonaccrual status and classified as nonperforming when the underlying first-lien mortgage loan becomes 90 days past due even if the junior-lien loan is current. The outstanding balance of real estate-secured loans that is in excess of the estimated property value less costs to sell is charged off no later than the end of the month in which the loan becomes 180 days past due unless the loan is fully insured, or for loans in bankruptcy, within 60 days of receipt of notification of filing, with the remaining balance classified as nonperforming. Consumer loans secured by personal property, credit card loans and other unsecured consumer loans are not placed on nonaccrual status prior to charge-off and, therefore, are not reported as nonperforming loans, except for certain secured consumer loans, including those that have been modified in a TDR. Personal property-secured loans (including auto loans) are charged off to collateral value no later than the end of the month in which the account becomes 120 days past due, or upon repossession of an auto or, for loans in bankruptcy, within 60 days of receipt of notification of filing. Credit card and other unsecured customer loans are charged off no later than the end of the month in which the account becomes 180 days past due, within 60 days after receipt of notification of death or bankruptcy, or upon confirmation of fraud. Commercial loans and leases, excluding business card loans, that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, including loans that are individually identified as being impaired, are generally placed on nonaccrual status and classified as nonperforming unless well-secured and in the process of collection. Business card loans are charged off in the same manner as consumer credit card loans. Other commercial loans and leases are generally charged off when all or a portion of the principal amount is determined to be uncollectible. The entire balance of a consumer loan or commercial loan or lease is contractually delinquent if the minimum payment is not received by the specified due date on the customer’s billing statement. Interest and fees continue to accrue on past due loans and leases until the date the loan is placed on nonaccrual
Troubled Debt Restructurings	Troubled Debt Restructurings Consumer and commercial loans and leases whose contractual terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties are classified as TDRs. Concessions could include a reduction in the interest rate to a rate that is below market on the loan, payment extensions, forgiveness of principal, forbearance or other actions designed to maximize collections. Loans that are carried at fair value and LHFS are not classified as TDRs. Loans and leases whose contractual terms have been modified in a TDR and are current at the time of restructuring may remain on accrual status if there is demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Otherwise, the loans are placed on nonaccrual status and reported as nonperforming, except for fully-insured consumer real estate loans, until there is sustained repayment performance for a reasonable period, generally six months. If accruing TDRs cease to perform in accordance with their modified contractual terms, they are placed on nonaccrual status and reported as nonperforming TDRs. Secured consumer loans that have been discharged in Chapter 7 bankruptcy and have not been reaffirmed by the borrower are classified as TDRs at the time of discharge. Such loans are placed on nonaccrual status and written down to the estimated collateral value less costs to sell no later than at the time of discharge. If these loans are contractually current, interest collections are generally recorded in interest income on a cash basis. Consumer real estate-secured loans for which a binding offer to restructure has been extended are also classified as TDRs. Credit card and other unsecured consumer loans that have been renegotiated in a TDR generally remain on accrual status until the loan is either paid in full or charged off, which occurs no later than the end of the month in which the loan becomes 180 days past due or, for loans that have been placed on a fixed payment plan, 120 days past due. A loan that had previously been modified in a TDR and is subsequently refinanced under current underwriting standards at a market rate with no concessionary terms is accounted for as a new loan and is no longer reported as a TDR. COVID-19 Programs The Corporation has implemented various consumer and commercial loan modification programs to provide its borrowers relief from the economic impacts of the COVID-19 pandemic (the pandemic). In accordance with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Corporation has elected to not apply TDR classification to eligible COVID-19 related loan modifications that were performed after March 1, 2020 to loans that were current as of December 31, 2019. Accordingly, these restructurings are not classified as TDRs. The availability of this election expires upon the earlier of January 1, 2022 or 60 days after the national emergency related to COVID-19 terminates. In
Loans Held-for-sale	Loans Held-for-sale Loans that the Corporation intends to sell in the foreseeable future, including residential mortgages, loan syndications, and to a lesser degree, commercial real estate, consumer finance and other loans, are reported as LHFS and are carried at the lower of aggregate cost or fair value. The Corporation accounts for certain LHFS, including residential mortgage LHFS, under the fair value option. Loan origination costs for LHFS carried at the lower of cost or fair value are capitalized as part of the carrying value of the loans and, upon the sale of a loan, are recognized as part of the gain or loss in noninterest income. LHFS that are on nonaccrual status and are reported as nonperforming, as defined in the policy herein, are reported separately from nonperforming loans and leases.
Premises and Equipment	Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are recognized using the straight-line method over the estimated useful lives of the assets. Estimated lives range up to 40 years for buildings, up to 12 years for furniture and equipment, and the shorter of lease term or estimated useful life for leasehold improvements.
Other Assets	Other Assets For the Corporation’s financial assets that are measured at amortized cost and are not included in debt securities or loans and leases on the Consolidated Balance Sheet, the Corporation evaluates these assets for ECL using various techniques. For assets that are subject to collateral maintenance provisions, including federal funds sold and securities borrowed or purchased under agreements to resell, where the collateral consists of daily margining of liquid and marketable assets where the margining is expected to be maintained into the foreseeable future, the expected losses are assumed to be zero. For all other assets, the Corporation performs qualitative analyses, including consideration of historical losses and current economic conditions, to estimate any ECL which are then included in a valuation account that is recorded as a contra-asset against the amortized cost basis of the financial asset.
Lessee Arrangements	Lessee Arrangements Substantially all of the Corporation’s lessee arrangements are operating leases. Under these arrangements, the Corporation records right-of-use assets and lease liabilities at lease commencement. Right-of-use assets are reported in other assets on the Consolidated Balance Sheet, and the related lease liabilities are reported in accrued expenses and other liabilities. All leases are recorded on the Consolidated Balance Sheet except leases with an initial term less than 12 months for which the Corporation made the short-term lease election. Lease expense is recognized on a straight-line basis over the lease term and is recorded in occupancy and equipment expense in the Consolidated Statement of Income. The Corporation made an accounting policy election not to separate lease and non-lease components of a contract that is or contains a lease for its real estate and equipment leases. As such, lease payments represent payments on both lease and non-lease components. At lease commencement, lease liabilities are recognized based on the present value of the remaining lease payments and discounted using the Corporation’s incremental borrowing rate. Right-of-use assets initially equal the lease liability, adjusted for any lease payments made prior to lease commencement and for any lease incentives.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill is the purchase premium after adjusting for the fair value of net assets acquired. Goodwill is not amortized but is reviewed for potential impairment on an annual basis, or when events or circumstances indicate a potential impairment, at the reporting unit level. A reporting unit is a business segment or one level below a business segment. The Corporation assesses the fair value of each reporting unit against its carrying value, including goodwill, as measured by allocated equity. For purposes of goodwill impairment testing, the Corporation utilizes allocated equity as a proxy for the carrying value of its reporting units. Allocated equity in the reporting units is comprised of allocated capital plus capital for the portion of goodwill and intangibles specifically assigned to the reporting unit. In performing its goodwill impairment testing, the Corporation first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors include, among other things, macroeconomic conditions, industry and market considerations, financial performance of the respective reporting unit and other relevant entity- and reporting-unit specific considerations. If the Corporation concludes it is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative assessment is performed. The Corporation has an unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test. The Corporation may resume performing the qualitative assessment in any subsequent period. When performing the quantitative assessment, if the fair value of the reporting unit exceeds its carrying value, goodwill of the reporting unit would not be considered impaired. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment loss would be recognized for the amount by which the reporting unit’s allocated equity exceeds its fair value. An impairment loss recognized cannot exceed the amount of goodwill assigned to a reporting unit. An impairment loss establishes a new basis in the goodwill, and subsequent reversals of goodwill impairment losses are not permitted under applicable accounting guidance. For intangible assets subject to amortization, an impairment loss is recognized if the carrying value of the intangible asset is not recoverable and exceeds fair value. The carrying value of the intangible asset is considered not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset. Intangible assets deemed to have indefinite useful lives are not subject to amortization. An impairment loss is recognized if the carrying value of the intangible asset with an indefinite life exceeds its fair value.
Variable Interest Entities	Variable Interest Entities A VIE is an entity that lacks equity investors or whose equity investors do not have a controlling financial interest in the entity through their equity investments. The Corporation consolidates a VIE if it has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. On a quarterly basis, the Corporation reassesses its involvement with the VIE and evaluates the impact of changes in governing documents and its financial interests in the VIE. The consolidation status of the VIEs with which the Corporation is involved may change as a result of such reassessments. The Corporation primarily uses VIEs for its securitization activities, in which the Corporation transfers whole loans or debt securities into a trust or other vehicle. When the Corporation is the servicer of whole loans held in a securitization trust, including non-agency residential mortgages, home equity loans, credit cards, and other loans, the Corporation has the power to direct the most significant activities of the trust. The Corporation generally does not have the power to direct the most significant activities of a residential mortgage agency trust except in certain circumstances in which the Corporation holds substantially all of the issued securities and has the unilateral right to liquidate the trust. The power to direct the most significant activities of a commercial mortgage securitization trust is typically held by the special servicer or by the party holding specific subordinate securities which embody certain controlling rights. The Corporation consolidates a whole-loan securitization trust if it has the power to direct the most significant activities and also holds securities issued by the trust or has other contractual arrangements, other than standard representations and warranties, that could potentially be significant to the trust. The Corporation may also transfer trading account securities and AFS securities into municipal bond or resecuritization trusts. The Corporation consolidates a municipal bond or resecuritization trust if it has control over the ongoing activities of the trust such as the remarketing of the trust’s liabilities or, if there are no ongoing activities, sole discretion over the design of the trust, including the identification of securities to be transferred in and the structure of securities to be issued, and also retains securities or has liquidity or other commitments that could potentially be significant to the trust. The Corporation does not consolidate a municipal bond or resecuritization trust if one or a limited number of third-party investors share responsibility for the design of the trust or have control over the significant activities of the trust through liquidation or other substantive rights. Other VIEs used by the Corporation include collateralized debt obligations (CDOs), investment vehicles created on behalf of customers and other investment vehicles. The Corporation does not routinely serve as collateral manager for CDOs and, therefore, does not typically have the power to direct the activities that most significantly impact the economic performance of a CDO. However, following an event of default, if the Corporation is a majority holder of senior securities issued by a CDO and acquires the power to manage its assets, the Corporation consolidates the CDO. The Corporation consolidates a customer or other investment vehicle if it has control over the initial design of the vehicle or manages the assets in the vehicle and also absorbs potentially significant gains or losses through an investment in the vehicle, derivative contracts or other arrangements. The Corporation does not consolidate an investment vehicle if a single investor controlled the initial design of the vehicle or manages the assets in the vehicles or if the Corporation does not have a variable interest that could potentially be significant to the vehicle. Retained interests in securitized assets are initially recorded at fair value. In addition, the Corporation may invest in debt securities issued by unconsolidated VIEs. Fair values of these debt securities, which are classified as trading account assets, debt securities carried at fair value or HTM securities, are based primarily on quoted market prices in active or inactive markets. Generally, quoted market prices for retained residual interests are not available; therefore, the Corporation estimates fair values based on the present value of the associated expected future cash flows.
Fair Value	Fair Value The Corporation measures the fair values of its assets and liabilities, where applicable, in accordance with accounting guidance that requires an entity to base fair value on exit price. Under this guidance, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs in measuring fair value. Under applicable accounting standards, fair value measurements are categorized into one of three levels based on the inputs to the valuation technique with the highest priority given to unadjusted quoted prices in active markets and the lowest priority given to unobservable inputs. The Corporation categorizes its fair value measurements of financial instruments based on this three-level hierarchy. Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in OTC markets. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts where fair value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes U.S. government and agency mortgage-backed (MBS) and asset-backed securities (ABS), corporate debt securities, derivative contracts, certain loans and LHFS. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the overall
Income Taxes	Income Taxes There are two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. These gross deferred tax assets and liabilities represent decreases or increases in taxes expected to be paid in the future because of future reversals of temporary differences in the bases of assets and liabilities as measured by tax laws and their bases as reported in the financial statements. Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards and tax credit carryforwards. Valuation allowances are recorded to reduce deferred tax assets to the amounts management concludes are more likely than not to be realized. Income tax benefits are recognized and measured based upon a two-step model: first, a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized, and second, the benefit is measured as the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between the benefit recognized and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. The Corporation records income tax-related interest and penalties, if applicable, within income tax expense.
Revenue Recognition	Revenue Recognition The following summarizes the Corporation’s revenue recognition accounting policies for certain noninterest income activities. Card Income Card income includes annual, late and over-limit fees as well as interchange, cash advances and other miscellaneous items from credit and debit card transactions and from processing card transactions for merchants. Card income is presented net of direct costs. Interchange fees are recognized upon settlement of the credit and debit card payment transactions and are generally determined on a percentage basis for credit cards and fixed rates for debit cards based on the corresponding payment network’s rates. Substantially all card fees are recognized at the transaction date, except for certain time-based fees such as annual fees, which are recognized over 12 months. Fees charged to cardholders and merchants that are estimated to be uncollectible are reserved in the allowance for loan and lease losses. Included in direct cost are rewards and credit card partner payments. Rewards paid to cardholders are related to points earned by the cardholder that can be redeemed for a broad range of rewards including cash, travel and gift cards. The points to be redeemed are estimated based on past redemption behavior, card product type, account transaction activity and other historical card performance. The liability is reduced as the points are redeemed. The Corporation also makes payments to credit card partners. The payments are based on revenue-sharing agreements that are generally driven by cardholder transactions and partner sales volumes. As part of the revenue-sharing agreements, the credit card partner provides the Corporation exclusive rights to market to the credit card partner’s members or customers on behalf of the Corporation. Service Charges Service charges include deposit and lending-related fees. Deposit-related fees consist of fees earned on consumer and commercial deposit activities and are generally recognized when the transactions occur or as the service is performed. Consumer fees are earned on consumer deposit accounts for account maintenance and various transaction-based services, such as ATM transactions, wire transfer activities, check and money order processing and insufficient funds/overdraft transactions. Commercial deposit-related fees are from the Corporation’s Global Transaction Services business and consist of commercial deposit and treasury management services, including account maintenance and other services, such as payroll, sweep account and other cash management services. Lending-related fees generally represent transactional fees earned from certain loan commitments, financial guarantees and SBLCs. Investment and Brokerage Services Investment and brokerage services consist of asset management and brokerage fees. Asset management fees are earned from the management of client assets under advisory agreements or the full discretion of the Corporation’s financial advisors (collectively referred to as assets under management (AUM)). Asset management fees are earned as a percentage of the client’s AUM and generally range from 50 basis points (bps) to 150 bps of the AUM. In cases where a third party is used to obtain a client’s investment allocation, the fee remitted to the third party is recorded net and is not reflected in the transaction price, as the Corporation is an agent for those services. Brokerage fees include income earned from transaction-based services that are performed as part of investment management services and are based on a fixed price per unit or as a percentage of the total transaction amount. Brokerage fees also include distribution fees and sales commissions that are primarily in the Global Wealth & Investment Management ( GWIM ) segment and are earned over time. In addition, primarily in the Global Markets segment, brokerage fees are earned when the Corporation fills customer orders to buy or sell various financial products or when it acknowledges, affirms, settles and clears transactions and/or submits trade information to the appropriate clearing broker. Certain customers pay brokerage, clearing and/or exchange fees imposed by relevant regulatory bodies or exchanges in order to execute or clear trades. These fees are recorded net and are not reflected in the transaction price, as the Corporation is an agent for those services. Investment Banking Income Investment banking income includes underwriting income and financial advisory services income. Underwriting consists of fees earned for the placement of a customer’s debt or equity securities. The revenue is generally earned based on a percentage of the fixed number of shares or principal placed. Once the number of shares or notes is determined and the service is completed, the underwriting fees are recognized. The Corporation incurs certain out-of-pocket expenses, such as legal costs, in performing these services. These expenses are recovered through the revenue the Corporation earns from the customer and are included in operating expenses. Syndication fees represent fees earned as the agent or lead lender responsible for structuring, arranging and administering a loan syndication. Financial advisory services consist of fees earned for assisting clients with transactions related to mergers and acquisitions and financial restructurings. Revenue varies depending on the size of the transaction and scope of services performed and is generally contingent on successful completion of the transaction. Revenue is typically recognized once the transaction is completed and all services have been rendered. Additionally, the Corporation may earn a fixed fee in merger and acquisition transactions to provide a fairness opinion, with the fees recognized when the opinion is delivered to the client. Other Revenue Measurement and Recognition Policies The Corporation did not disclose the value of any open performance obligations at December 31, 2020, as its contracts with customers generally have a fixed term that is less than one year, an open term with a cancellation period that is less than one year, or provisions that allow the Corporation to recognize revenue at the amount it has the right to invoice.
Earnings Per Common Share	Earnings Per Common Share Earnings per common share (EPS) is computed by dividing net income allocated to common shareholders by the weighted-average common shares outstanding, excluding unvested common shares subject to repurchase or cancellation. Net income allocated to common shareholders is net income adjusted for preferred stock dividends including dividends declared, accretion of discounts on preferred stock including accelerated accretion when preferred stock is repaid early, and cumulative dividends related to the current dividend period that have not been declared as of period end, less income allocated to participating securities. Diluted EPS is computed by dividing income allocated to common shareholders plus dividends on dilutive convertible preferred stock and preferred stock that can be tendered to exercise warrants, by the weighted-average common shares outstanding plus amounts representing the dilutive effect of stock options outstanding, restricted stock, restricted stock units (RSUs), outstanding warrants and the dilution resulting from the conversion of convertible preferred stock, if applicable.
Foreign Currency Translation	Foreign Currency Translation Assets, liabilities and operations of foreign branches and subsidiaries are recorded based on the functional currency of each entity. When the functional currency of a foreign operation is the local currency, the assets, liabilities and operations are translated, for consolidation purposes, from the local currency to the U.S. dollar reporting currency at period-end rates for assets and liabilities and generally at average rates for results of operations. The resulting unrealized gains and losses are reported as a component of accumulated OCI, net-of-tax. When the foreign entity’s functional currency is the U.S. dollar, the resulting remeasurement gains or losses on foreign currency-denominated assets or liabilities are included in earnings.
Paycheck Protection Program	Paycheck Protection Program The Corporation is participating in the Paycheck Protection Program (PPP), which is a loan program that originated from the CARES Act and was subsequently expanded by the Paycheck Protection Program and Health Care Enhancement Act. The PPP is designed to provide U.S. small businesses with cash-flow assistance through loans fully guaranteed by the Small

Net Interest Income and Nonin_2

Net Interest Income and Noninterest Income (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2020, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other , see Note 23 – Business Segment Information . (Dollars in millions) 2020 2019 2018 Net interest income Interest income Loans and leases $ 34,029 $ 43,086 $ 40,811 Debt securities 9,790 11,806 11,724 Federal funds sold and securities borrowed or purchased under agreements to resell 903 4,843 3,176 Trading account assets 4,128 5,196 4,811 Other interest income 2,735 6,305 6,247 Total interest income 51,585 71,236 66,769 Interest expense Deposits 1,943 7,188 4,495 Short-term borrowings 987 7,208 5,839 Trading account liabilities 974 1,249 1,358 Long-term debt 4,321 6,700 6,915 Total interest expense 8,225 22,345 18,607 Net interest income $ 43,360 $ 48,891 $ 48,162 Noninterest income Fees and commissions Card income Interchange fees (1) $ 3,954 $ 3,834 $ 3,866 Other card income 1,702 1,963 1,958 Total card income 5,656 5,797 5,824 Service charges Deposit-related fees 5,991 6,588 6,667 Lending-related fees 1,150 1,086 1,100 Total service charges 7,141 7,674 7,767 Investment and brokerage services Asset management fees 10,708 10,241 10,189 Brokerage fees 3,866 3,661 3,971 Total investment and brokerage services 14,574 13,902 14,160 Investment banking fees Underwriting income 4,698 2,998 2,722 Syndication fees 861 1,184 1,347 Financial advisory services 1,621 1,460 1,258 Total investment banking fees 7,180 5,642 5,327 Total fees and commissions 34,551 33,015 33,078 Market making and similar activities 8,355 9,034 9,008 Other income (loss) (738) 304 772 Total noninterest income $ 42,168 $ 42,353 $ 42,858 (1) Gross interchange fees were $9.2 billion, $10.0 billion and $9.5 billion for 2020, 2019 and 2018, respectively, and are presented net of $5.5 billion, $6.2 billion and $5.6 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020 and 2019. 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 cash collateral received or paid. December 31, 2020 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Total Trading and Other Risk Management Derivatives Qualifying Total Interest rate contracts Swaps $ 13,242.8 $ 199.9 $ 10.9 $ 210.8 $ 209.3 $ 1.3 $ 210.6 Futures and forwards 3,222.2 3.5 0.1 3.6 3.6 — 3.6 Written options 1,530.5 — — — 40.5 — 40.5 Purchased options 1,545.8 45.3 — 45.3 — — — Foreign exchange contracts Swaps 1,475.8 37.1 0.3 37.4 39.7 0.6 40.3 Spot, futures and forwards 3,710.7 53.4 — 53.4 54.5 0.5 55.0 Written options 289.6 — — — 4.8 — 4.8 Purchased options 279.3 5.0 — 5.0 — — — Equity contracts Swaps 320.2 13.3 — 13.3 14.5 — 14.5 Futures and forwards 106.2 0.3 — 0.3 1.4 — 1.4 Written options 599.1 — — — 48.8 — 48.8 Purchased options 541.2 52.6 — 52.6 — — — Commodity contracts Swaps 36.4 1.9 — 1.9 4.4 — 4.4 Futures and forwards 63.6 2.0 — 2.0 1.0 — 1.0 Written options 24.6 — — — 1.4 — 1.4 Purchased options 24.7 1.5 — 1.5 — — — Credit derivatives (2) Purchased credit derivatives: Credit default swaps 322.7 2.3 — 2.3 4.4 — 4.4 Total return swaps/options 63.6 0.2 — 0.2 1.0 — 1.0 Written credit derivatives: Credit default swaps 301.5 4.4 — 4.4 1.9 — 1.9 Total return swaps/options 68.6 0.6 — 0.6 0.4 — 0.4 Gross derivative assets/liabilities $ 423.3 $ 11.3 $ 434.6 $ 431.6 $ 2.4 $ 434.0 Less: Legally enforceable master netting agreements (344.9) (344.9) Less: Cash collateral received/paid (42.5) (43.6) Total derivative assets/liabilities $ 47.2 $ 45.5 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The net derivative asset (liability) and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names were $2.2 billion and $269.8 billion at December 31, 2020. December 31, 2019 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1) Trading and Other Risk Management Derivatives Qualifying Total Trading and Other Risk Management Derivatives Qualifying Total Interest rate contracts Swaps $ 15,074.4 $ 162.0 $ 9.7 $ 171.7 $ 168.5 $ 0.4 $ 168.9 Futures and forwards 3,279.8 1.0 — 1.0 1.0 — 1.0 Written options 1,767.7 — — — 32.5 — 32.5 Purchased options 1,673.6 37.4 — 37.4 — — — Foreign exchange contracts Swaps 1,657.7 30.3 0.7 31.0 31.7 0.9 32.6 Spot, futures and forwards 3,792.7 35.9 0.1 36.0 38.7 0.3 39.0 Written options 274.3 — — — 3.8 — 3.8 Purchased options 261.6 4.0 — 4.0 — — — Equity contracts Swaps 315.0 6.5 — 6.5 8.1 — 8.1 Futures and forwards 125.1 0.3 — 0.3 1.1 — 1.1 Written options 731.1 — — — 34.6 — 34.6 Purchased options 668.6 42.4 — 42.4 — — — Commodity contracts Swaps 42.0 2.1 — 2.1 4.4 — 4.4 Futures and forwards 61.3 1.7 — 1.7 0.4 — 0.4 Written options 33.2 — — — 1.4 — 1.4 Purchased options 37.9 1.4 — 1.4 — — — Credit derivatives (2) Purchased credit derivatives: Credit default swaps 321.6 2.7 — 2.7 5.6 — 5.6 Total return swaps/options 86.6 0.4 — 0.4 1.3 — 1.3 Written credit derivatives: Credit default swaps 300.2 5.4 — 5.4 2.0 — 2.0 Total return swaps/options 86.2 0.8 — 0.8 0.4 — 0.4 Gross derivative assets/liabilities $ 334.3 $ 10.5 $ 344.8 $ 335.5 $ 1.6 $ 337.1 Less: Legally enforceable master netting agreements (270.4) (270.4) Less: Cash collateral received/paid (33.9) (28.5) Total derivative assets/liabilities $ 40.5 $ 38.2 (1) Represents the total contract/notional amount of derivative assets and liabilities outstanding. (2) The net derivative asset (liability) and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names were $2.8 billion and $309.7 billion at December 31, 2019.
Derivative [Line Items]
Gains and Losses on Derivatives Designated as Fair Value Hedges	The following table summarizes information related to fair value hedges for 2020, 2019 and 2018. Gains and Losses on Derivatives Designated as Fair Value Hedges Derivative Hedged Item (Dollars in millions) 2020 2019 2018 2020 2019 2018 Interest rate risk on long-term debt (1) $ 7,091 $ 6,113 $ (1,538) $ (7,220) $ (6,110) $ 1,429 Interest rate and foreign currency risk on long-term debt (2) 783 119 (1,187) (783) (101) 1,079 Interest rate risk on available-for-sale securities (3) (44) (102) (52) 49 98 50 Total $ 7,830 $ 6,130 $ (2,777) $ (7,954) $ (6,113) $ 2,558 (1) Amounts are recorded in interest expense in the Consolidated Statement of Income. (2) In 2020, 2019 and 2018, the derivative amount includes gains (losses) of $701 million, $73 million and $(116) million in interest expense, $73 million, $28 million and $(992) million in market making and similar activities, and $9 million, $18 million and $(79) million in accumulated OCI, respectively. Line item totals are in the Consolidated Statement of Income and on the Consolidated Balance Sheet. (3) Amounts are recorded in interest income in the Consolidated Statement of Income.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below summarizes the carrying value of hedged assets and liabilities that are designated and qualifying in fair value hedging relationships along with the cumulative amount of fair value hedging adjustments included in the carrying value that have been recorded in the current hedging relationships. These fair value hedging adjustments are open basis adjustments that are not subject to amortization as long as the hedging relationship remains designated. Designated Fair Value Hedged Assets (Liabilities) Carrying Value Cumulative Fair Value Adjustments (1) Carrying Value Cumulative Fair Value Adjustments (1) (Dollars in millions) December 31, 2020 December 31, 2019 Long-term debt (2) $ (150,556) $ (8,910) $ (162,389) $ (8,685) Available-for-sale debt securities (2, 3, 4) 116,252 114 1,654 64 Trading account assets (5) 427 15 — — (1) For assets, increase (decrease) to carrying value and for liabilities, (increase) decrease to carrying value. (2) At December 31, 2020 and 2019, the cumulative fair value adjustments remaining on long-term debt and AFS debt securities from discontinued hedging relationships resulted in an (increase) decrease in the related liability of $(3.7) billion and $1.3 billion and an increase (decrease) in the related asset of $(69) million and $8 million, which are being amortized over the remaining contractual life of the de-designated hedged items. (3) These amounts include the amortized cost basis of the prepayable financial assets used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship (i.e. last-of-layer hedging relationship). At December 31, 2020, the amortized cost of the closed portfolios used in these hedging relationships was $34.6 billion, of which $7.0 billion was designated in the last-of-layer hedging relationship. The cumulative basis adjustments associated with these hedging relationships were not significant. (4) Carrying value represents amortized cost. (5) Represents hedging activities related to precious metals inventory.
Cash Flow and Net Investment Hedges	The following table summarizes certain information related to cash flow hedges and net investment hedges for 2020, 2019 and 2018. Of the $426 million after-tax net gain ($566 million pretax) on derivatives in accumulated OCI at December 31, 2020, gains of $190 million after-tax ($254 million pretax) related to both open and terminated hedges are expected to be reclassified into earnings in the next 12 months. These net gains reclassified into earnings are expected to primarily increase net interest income related to the respective hedged items. For terminated cash flow hedges, the time period over which the majority of the forecasted transactions are hedged is approximately 3 years, with a maximum length of time for certain forecasted transactions of 16 years. Gains and Losses on Derivatives Designated as Cash Flow and Net Investment Hedges Gains (Losses) Recognized in Gains (Losses) in Income (Dollars in millions, amounts pretax) 2020 2019 2018 2020 2019 2018 Cash flow hedges Interest rate risk on variable-rate assets (1) $ 763 $ 671 $ (159) $ (7) $ (104) $ (165) Price risk on forecasted MBS purchases (1) 241 — — 9 — — Price risk on certain compensation plans (2) 85 34 4 12 (2) 27 Total $ 1,089 $ 705 $ (155) $ 14 $ (106) $ (138) Net investment hedges Foreign exchange risk (3) $ (834) $ 22 $ 989 $ 4 $ 366 $ 411 (1) Amounts reclassified from accumulated OCI are recorded in interest income in the Consolidated Statement of Income. (2) Amounts reclassified from accumulated OCI are recorded in compensation and benefits expense in the Consolidated Statement of Income.
Other Risk Management Derivatives	The following table presents gains (losses) on these derivatives for 2020, 2019 and 2018. These gains (losses) are largely offset by the income or expense recorded on the hedged item. Gains and Losses on Other Risk Management Derivatives (Dollars in millions) 2020 2019 2018 Interest rate risk on mortgage activities (1, 2) $ 446 $ 315 $ (107) Credit risk on loans (2) (68) (58) 9 Interest rate and foreign currency risk on ALM activities (3) (2,971) 1,112 3,278 Price risk on certain compensation plans (4) 700 943 (495) (1) Primarily related to hedges of interest rate risk on MSRs and IRLCs to originate mortgage loans that will be held for sale. The net gains on IRLCs, which are not included in the table but are considered derivative instruments, were $165 million, $73 million and $47 million in 2020, 2019 and 2018. (2) Gains (losses) on these derivatives are recorded in other income. (3) Gains (losses) on these derivatives are recorded in market making and similar activities. (4) Gains (losses) on these derivatives are recorded in compensation and benefits expense.
Schedule of Derivative Instruments Included in Trading Activities	This table includes debit valuation adjustment (DVA) and funding valuation adjustment (FVA) gains (losses). Global Markets results in Note 23 – 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 Market making and similar activities Net Interest Other (1) Total (Dollars in millions) 2020 Interest rate risk $ 2,211 $ 2,400 $ 231 $ 4,842 Foreign exchange risk 1,482 (20) 3 1,465 Equity risk 3,656 (77) 1,801 5,380 Credit risk 812 1,638 328 2,778 Other risk 308 4 44 356 Total sales and trading revenue $ 8,469 $ 3,945 $ 2,407 $ 14,821 2019 Interest rate risk $ 1,000 $ 1,817 $ 113 $ 2,930 Foreign exchange risk 1,288 62 57 1,407 Equity risk 3,563 (634) 1,569 4,498 Credit risk 1,091 1,807 519 3,417 Other risk 120 70 53 243 Total sales and trading revenue $ 7,062 $ 3,122 $ 2,311 $ 12,495 2018 Interest rate risk $ 810 $ 1,651 $ 245 $ 2,706 Foreign exchange risk 1,504 31 22 1,557 Equity risk 3,870 (657) 1,643 4,856 Credit risk 1,034 1,886 600 3,520 Other risk 40 197 49 286 Total sales and trading revenue $ 7,258 $ 3,108 $ 2,559 $ 12,925 (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 $1.9 billion, $1.7 billion and $1.7 billion in 2020, 2019 and 2018, respectively.
Disclosure of Credit Derivatives	Credit derivative instruments where the Corporation is the seller of credit protection and their expiration at December 31, 2020 and 2019 are summarized in the following table. Credit Derivative Instruments Less than One to Three to Over Five Total December 31, 2020 (Dollars in millions) Carrying Value Credit default swaps: Investment grade $ — $ 1 $ 35 $ 94 $ 130 Non-investment grade 26 233 364 1,163 1,786 Total 26 234 399 1,257 1,916 Total return swaps/options: Investment grade 21 4 — — 25 Non-investment grade 345 — — — 345 Total 366 4 — — 370 Total credit derivatives $ 392 $ 238 $ 399 $ 1,257 $ 2,286 Credit-related notes: Investment grade $ — $ — $ — $ 572 $ 572 Non-investment grade 64 2 10 947 1,023 Total credit-related notes $ 64 $ 2 $ 10 $ 1,519 $ 1,595 Maximum Payout/Notional Credit default swaps: Investment grade $ 33,474 $ 75,731 $ 87,218 $ 16,822 $ 213,245 Non-investment grade 13,664 28,770 35,978 9,852 88,264 Total 47,138 104,501 123,196 26,674 301,509 Total return swaps/options: Investment grade 30,961 1,061 77 — 32,099 Non-investment grade 36,128 364 27 5 36,524 Total 67,089 1,425 104 5 68,623 Total credit derivatives $ 114,227 $ 105,926 $ 123,300 $ 26,679 $ 370,132 December 31, 2019 Carrying Value Credit default swaps: Investment grade $ — $ 5 $ 60 $ 164 $ 229 Non-investment grade 70 292 561 808 1,731 Total 70 297 621 972 1,960 Total return swaps/options: Investment grade 35 — — — 35 Non-investment grade 344 — — — 344 Total 379 — — — 379 Total credit derivatives $ 449 $ 297 $ 621 $ 972 $ 2,339 Credit-related notes: Investment grade $ — $ 3 $ 1 $ 639 $ 643 Non-investment grade 6 2 1 1,125 1,134 Total credit-related notes $ 6 $ 5 $ 2 $ 1,764 $ 1,777 Maximum Payout/Notional Credit default swaps: Investment grade $ 55,827 $ 67,838 $ 71,320 $ 17,708 $ 212,693 Non-investment grade 19,049 26,521 29,618 12,337 87,525 Total 74,876 94,359 100,938 30,045 300,218 Total return swaps/options: Investment grade 56,488 — 62 76 56,626 Non-investment grade 28,707 657 104 60 29,528 Total 85,195 657 166 136 86,154 Total credit derivatives $ 160,071 $ 95,016 $ 101,104 $ 30,181 $ 386,372
Additional Collateral Required to be Posted Upon Downgrade	The following table presents the amount of additional collateral that would have been contractually required by derivative contracts and other trading agreements at December 31, 2020 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 at December 31, 2020 (Dollars in millions) One Second Bank of America Corporation $ 300 $ 735 Bank of America, N.A. and subsidiaries (1) 61 570 (1) Included in Bank of America Corporation collateral requirements in this table.
Derivative Liability Subject to Unilateral Termination Upon Downgrade	The following table 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 December 31, 2020 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 at December 31, 2020 (Dollars in millions) One Second Derivative liabilities $ 45 $ 1,035 Collateral posted 23 544
Valuation Adjustments on Derivatives	The table below presents credit valuation adjustment (CVA), DVA and FVA gains (losses) on derivatives (excluding the effect of any related hedge activities), which are recorded in market making and similar activities, for 2020, 2019 and 2018. CVA gains reduce the cumulative CVA thereby increasing the derivative assets balance. DVA gains increase the cumulative DVA thereby decreasing the derivative liabilities balance. CVA and DVA losses have the opposite impact. FVA gains related to derivative assets reduce the cumulative FVA thereby increasing the derivative assets balance. FVA gains related to derivative liabilities increase the cumulative FVA thereby decreasing the derivative liabilities balance. FVA losses have the opposite impact. Valuation Adjustments Gains (Losses) on Derivatives (1) (Dollars in millions) 2020 2019 2018 Derivative assets (CVA) $ (118) $ 72 $ 77 Derivative assets/liabilities (FVA) (24) (2) (15) Derivative liabilities (DVA) 24 (147) (19) (1) At December 31, 2020, 2019 and 2018, cumulative CVA reduced the derivative assets balance by $646 million, $528 million and $600 million, cumulative FVA reduced the net derivatives balance by $177 million, $153 million and $151 million, and cumulative DVA reduced the derivative liabilities balance by $309 million, $285 million and $432 million, respectively.
Derivative
Derivative [Line Items]
Offsetting Assets	The following table presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at December 31, 2020 and 2019 by primary risk (e.g., interest rate risk) and the platform, where applicable, on which these derivatives are transacted. 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 include reducing the balance for counterparty netting and cash collateral received or paid. For more information on offsetting of securities financing agreements, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash . Offsetting of Derivatives (1) Derivative Derivative Liabilities Derivative Derivative Liabilities (Dollars in billions) December 31, 2020 December 31, 2019 Interest rate contracts Over-the-counter $ 247.7 $ 243.5 $ 203.1 $ 196.6 Exchange-traded — — 0.1 0.1 Over-the-counter cleared 10.2 9.1 6.0 5.3 Foreign exchange contracts Over-the-counter 92.2 96.5 69.2 73.1 Over-the-counter cleared 1.4 1.3 0.5 0.5 Equity contracts Over-the-counter 31.3 28.3 21.3 17.8 Exchange-traded 32.3 31.0 26.4 22.8 Commodity contracts Over-the-counter 3.5 5.0 2.8 4.2 Exchange-traded 0.7 0.7 0.8 0.8 Over-the-counter cleared — — — 0.1 Credit derivatives Over-the-counter 5.2 5.6 6.4 6.6 Over-the-counter cleared 2.2 1.9 2.5 2.2 Total gross derivative assets/liabilities, before netting Over-the-counter 379.9 378.9 302.8 298.3 Exchange-traded 33.0 31.7 27.3 23.7 Over-the-counter cleared 13.8 12.3 9.0 8.1 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (345.7) (347.2) (274.7) (269.3) Exchange-traded (29.5) (29.5) (21.5) (21.5) Over-the-counter cleared (12.2) (11.8) (8.1) (8.1) Derivative assets/liabilities, after netting 39.3 34.4 34.8 31.2 Other gross derivative assets/liabilities (2) 7.9 11.1 5.7 7.0 Total derivative assets/liabilities 47.2 45.5 40.5 38.2 Less: Financial instruments collateral (3) (16.1) (16.6) (14.6) (16.1) Total net derivative assets/liabilities $ 31.1 $ 28.9 $ 25.9 $ 22.1 (1) 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. Exchange-traded derivatives include listed options transacted on an exchange. (2) Consists of derivatives entered into under master netting agreements where the enforceability of these agreements is uncertain under bankruptcy laws in some countries or industries. (3) Amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged. Financial instruments collateral includes securities collateral received or pledged and cash securities held and posted at third-party custodians that are not offset on the Consolidated Balance Sheet but shown as a reduction to derive net derivative assets and liabilities.
Offsetting Liabilities	The following table presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at December 31, 2020 and 2019 by primary risk (e.g., interest rate risk) and the platform, where applicable, on which these derivatives are transacted. 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 include reducing the balance for counterparty netting and cash collateral received or paid. For more information on offsetting of securities financing agreements, see Note 10 – Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash . Offsetting of Derivatives (1) Derivative Derivative Liabilities Derivative Derivative Liabilities (Dollars in billions) December 31, 2020 December 31, 2019 Interest rate contracts Over-the-counter $ 247.7 $ 243.5 $ 203.1 $ 196.6 Exchange-traded — — 0.1 0.1 Over-the-counter cleared 10.2 9.1 6.0 5.3 Foreign exchange contracts Over-the-counter 92.2 96.5 69.2 73.1 Over-the-counter cleared 1.4 1.3 0.5 0.5 Equity contracts Over-the-counter 31.3 28.3 21.3 17.8 Exchange-traded 32.3 31.0 26.4 22.8 Commodity contracts Over-the-counter 3.5 5.0 2.8 4.2 Exchange-traded 0.7 0.7 0.8 0.8 Over-the-counter cleared — — — 0.1 Credit derivatives Over-the-counter 5.2 5.6 6.4 6.6 Over-the-counter cleared 2.2 1.9 2.5 2.2 Total gross derivative assets/liabilities, before netting Over-the-counter 379.9 378.9 302.8 298.3 Exchange-traded 33.0 31.7 27.3 23.7 Over-the-counter cleared 13.8 12.3 9.0 8.1 Less: Legally enforceable master netting agreements and cash collateral received/paid Over-the-counter (345.7) (347.2) (274.7) (269.3) Exchange-traded (29.5) (29.5) (21.5) (21.5) Over-the-counter cleared (12.2) (11.8) (8.1) (8.1) Derivative assets/liabilities, after netting 39.3 34.4 34.8 31.2 Other gross derivative assets/liabilities (2) 7.9 11.1 5.7 7.0 Total derivative assets/liabilities 47.2 45.5 40.5 38.2 Less: Financial instruments collateral (3) (16.1) (16.6) (14.6) (16.1) Total net derivative assets/liabilities $ 31.1 $ 28.9 $ 25.9 $ 22.1 (1) 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. Exchange-traded derivatives include listed options transacted on an exchange. (2) Consists of derivatives entered into under master netting agreements where the enforceability of these agreements is uncertain under bankruptcy laws in some countries or industries. (3) Amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged. Financial instruments collateral includes securities collateral received or pledged and cash securities held and posted at third-party custodians that are not offset on the Consolidated Balance Sheet but shown as a reduction to derive net derivative assets and liabilities.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2020
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 and HTM debt securities at December 31, 2020 and 2019. Debt Securities Amortized Gross Gross Fair (Dollars in millions) December 31, 2020 Available-for-sale debt securities Mortgage-backed securities: Agency $ 59,518 $ 2,370 $ (39) $ 61,849 Agency-collateralized mortgage obligations 5,112 161 (13) 5,260 Commercial 15,470 1,025 (4) 16,491 Non-agency residential (1) 899 127 (17) 1,009 Total mortgage-backed securities 80,999 3,683 (73) 84,609 U.S. Treasury and agency securities 114,157 2,236 (13) 116,380 Non-U.S. securities 14,009 15 (7) 14,017 Other taxable securities, substantially all asset-backed securities 2,656 61 (6) 2,711 Total taxable securities 211,821 5,995 (99) 217,717 Tax-exempt securities 16,417 389 (32) 16,774 Total available-for-sale debt securities (3) 228,238 6,384 (131) 234,491 Other debt securities carried at fair value (2) 11,720 429 (39) 12,110 Total debt securities carried at fair value 239,958 6,813 (170) 246,601 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities (3) 438,279 10,095 (194) 448,180 Total debt securities (3,4) $ 678,237 $ 16,908 $ (364) $ 694,781 December 31, 2019 Available-for-sale debt securities Mortgage-backed securities: Agency $ 121,698 $ 1,013 $ (183) $ 122,528 Agency-collateralized mortgage obligations 4,587 78 (24) 4,641 Commercial 14,797 249 (25) 15,021 Non-agency residential (1) 948 138 (9) 1,077 Total mortgage-backed securities 142,030 1,478 (241) 143,267 U.S. Treasury and agency securities 67,700 1,023 (195) 68,528 Non-U.S. securities 11,987 6 (2) 11,991 Other taxable securities, substantially all asset-backed securities 3,874 67 — 3,941 Total taxable securities 225,591 2,574 (438) 227,727 Tax-exempt securities 17,716 202 (6) 17,912 Total available-for-sale debt securities 243,307 2,776 (444) 245,639 Other debt securities carried at fair value (2) 10,596 255 (23) 10,828 Total debt securities carried at fair value 253,903 3,031 (467) 256,467 Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities 215,730 4,433 (342) 219,821 Total debt securities (3, 4) $ 469,633 $ 7,464 $ (809) $ 476,288 (1) At December 31, 2020 and 2019, the underlying collateral type included approximately 37 percent and 49 percent prime, two percent and six percent Alt-A and 61 percent and 45 percent subprime. (2) Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements. Any changes in value are reported in market making and similar activities. For detail on the components, see Note 20 – Fair Value Measurements . (3) Includes securities pledged as collateral of $65.5 billion and $67.0 billion at December 31, 2020 and 2019. (4) The Corporation held debt securities from FNMA and FHLMC that each exceeded 10 percent of shareholders’ equity, with an amortized cost of $260.1 billion and $118.1 billion, and a fair value of $267.5 billion and $120.7 billion at December 31, 2020, and an amortized cost of $157.2 billion and $54.1 billion, and a fair value of $160.6 billion and $55.1 billion at December 31, 2019.
Gains and Losses on Sales of AFS Debt Securities	The gross realized gains and losses on sales of AFS debt securities for 2020, 2019 and 2018 are presented in the table below. Gains and Losses on Sales of AFS Debt Securities (Dollars in millions) 2020 2019 2018 Gross gains $ 423 $ 336 $ 169 Gross losses (12) (119) (15) Net gains on sales of AFS debt securities $ 411 $ 217 $ 154 Income tax expense attributable to realized net gains on sales of AFS debt securities $ 103 $ 54 $ 37
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 December 31, 2020 and 2019. Total AFS Debt Securities in a Continuous Unrealized Loss Position Less than Twelve Months Twelve Months or Longer Total Fair Gross Unrealized Losses Fair Gross Unrealized Losses Fair Gross Unrealized Losses (Dollars in millions) December 31, 2020 Continuously unrealized loss-positioned AFS debt securities Mortgage-backed securities: Agency $ 2,841 $ (39) $ 2 $ — $ 2,843 $ (39) Agency-collateralized mortgage obligations 187 (2) 364 (11) 551 (13) Commercial 566 (4) 9 — 575 (4) Non-agency residential 342 (9) 56 (8) 398 (17) Total mortgage-backed securities 3,936 (54) 431 (19) 4,367 (73) U.S. Treasury and agency securities 8,282 (9) 498 (4) 8,780 (13) Non-U.S. securities 1,861 (6) 135 (1) 1,996 (7) Other taxable securities, substantially all asset-backed securities 576 (2) 396 (4) 972 (6) Total taxable securities 14,655 (71) 1,460 (28) 16,115 (99) Tax-exempt securities 4,108 (29) 617 (3) 4,725 (32) Total AFS debt securities in a continuous $ 18,763 $ (100) $ 2,077 $ (31) $ 20,840 $ (131) December 31, 2019 Continuously unrealized loss-positioned AFS debt securities Mortgage-backed securities: Agency $ 17,641 $ (41) $ 17,238 $ (142) $ 34,879 $ (183) Agency-collateralized mortgage obligations 255 (1) 925 (23) 1,180 (24) Commercial 2,180 (22) 442 (3) 2,622 (25) Non-agency residential 122 (6) 22 (3) 144 (9) Total mortgage-backed securities 20,198 (70) 18,627 (171) 38,825 (241) U.S. Treasury and agency securities 12,836 (71) 18,866 (124) 31,702 (195) Non-U.S. securities 851 — 837 (2) 1,688 (2) Other taxable securities, substantially all asset-backed securities 938 — 222 — 1,160 — Total taxable securities 34,823 (141) 38,552 (297) 73,375 (438) Tax-exempt securities 4,286 (5) 190 (1) 4,476 (6) Total AFS debt securities in a continuous $ 39,109 $ (146) $ 38,742 $ (298) $ 77,851 $ (444)
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 December 31, 2020 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the mortgages or other ABS are passed through to the Corporation. Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities Due in One Due after One Year Due after Five Years Due after 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 $ — — % $ 7 5.69 % $ 56 4.44 % $ 59,455 3.36 % $ 59,518 3.36 % Agency-collateralized mortgage obligations — — — — 24 2.57 5,088 2.94 5,112 2.94 Commercial 26 3.04 6,669 2.52 7,711 2.32 1,077 2.64 15,483 2.43 Non-agency residential — — — — 1 — 1,620 6.77 1,621 6.77 Total mortgage-backed securities 26 3.04 6,676 2.52 7,792 2.34 67,240 3.40 81,734 3.23 U.S. Treasury and agency securities 10,020 1.26 29,533 1.85 74,665 0.74 32 2.55 114,250 1.07 Non-U.S. securities 22,862 0.31 926 1.81 581 1.09 532 1.79 24,901 0.42 Other taxable securities, substantially all asset-backed securities 699 1.15 1,336 2.46 366 2.26 255 1.60 2,656 2.00 Total taxable securities 33,607 0.61 38,471 1.99 83,404 0.89 68,059 3.38 223,541 1.80 Tax-exempt securities 872 0.87 8,430 1.27 4,397 1.66 2,718 1.41 16,417 1.38 Total amortized cost of debt securities carried at fair value $ 34,479 0.62 $ 46,901 1.86 $ 87,801 0.93 $ 70,777 3.30 $ 239,958 1.77 Amortized cost of HTM debt securities (2) $ 15 3.78 $ 66 2.73 $ 17,133 1.86 $ 421,065 2.40 $ 438,279 2.38 Debt securities carried at fair value Mortgage-backed securities: Agency $ — $ 7 $ 61 $ 61,781 $ 61,849 Agency-collateralized mortgage obligations — — 24 5,236 5,260 Commercial 26 7,077 8,242 1,160 16,505 Non-agency residential — — 7 1,776 1,783 Total mortgage-backed securities 26 7,084 8,334 69,953 85,397 U.S. Treasury and agency securities 10,056 30,873 75,511 33 116,473 Non-U.S. securities 23,187 940 582 534 25,243 Other taxable securities, substantially all asset-backed securities 702 1,369 379 264 2,714 Total taxable securities 33,971 40,266 84,806 70,784 229,827 Tax-exempt securities 874 8,554 4,566 2,780 16,774 Total debt securities carried at fair value $ 34,845 $ 48,820 $ 89,372 $ 73,564 $ 246,601 Fair value of HTM debt securities (2) $ 14 $ 69 $ 17,139 $ 430,958 $ 448,180 (1) The weighted-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 _2

Outstanding Loans and Leases and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020 and 2019. 30-59 Days Past Due (1) 60-89 Days Past Due (1) 90 Days or Past Due (1) Total Past Total Current or Less Than 30 Days Past Due (1) Loans Accounted for Under the Fair Value Option Total (Dollars in millions) December 31, 2020 Consumer real estate Core portfolio Residential mortgage $ 1,157 $ 175 $ 786 $ 2,118 $ 213,155 $ 215,273 Home equity 126 61 269 456 29,872 30,328 Non-core portfolio Residential mortgage 273 122 913 1,308 6,974 8,282 Home equity 28 17 76 121 3,862 3,983 Credit card and other consumer Credit card 445 341 903 1,689 77,019 78,708 Direct/Indirect consumer (2) 209 67 37 313 91,050 91,363 Other consumer — — — — 124 124 Total consumer 2,238 783 2,984 6,005 422,056 428,061 Consumer loans accounted for under the fair value option (3) $ 735 735 Total consumer loans and leases 2,238 783 2,984 6,005 422,056 735 428,796 Commercial U.S. commercial 561 214 512 1,287 287,441 288,728 Non-U.S. commercial 61 44 11 116 90,344 90,460 Commercial real estate (4) 128 113 226 467 59,897 60,364 Commercial lease financing 86 20 57 163 16,935 17,098 U.S. small business commercial (5) 84 56 123 263 36,206 36,469 Total commercial 920 447 929 2,296 490,823 493,119 Commercial loans accounted for under the fair value option (3) 5,946 5,946 Total commercial loans and leases 920 447 929 2,296 490,823 5,946 499,065 Total loans and leases (6) $ 3,158 $ 1,230 $ 3,913 $ 8,301 $ 912,879 $ 6,681 $ 927,861 Percentage of outstandings 0.34 % 0.13 % 0.42 % 0.89 % 98.39 % 0.72 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $225 million and nonperforming loans of $126 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $103 million and nonperforming loans of $95 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $762 million. Consumer real estate loans current or less than 30 days past due includes $1.2 billion and direct/indirect consumer includes $66 million of nonperforming loans. For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the pandemic, see Note 1 – Summary of Significant Accounting Principles . (2) Total outstandings primarily includes auto and specialty lending loans and leases of $46.4 billion, U.S. securities-based lending loans of $41.1 billion and non-U.S. consumer loans of $3.0 billion. (3) Consumer loans accounted for under the fair value option includes residential mortgage loans of $298 million and home equity loans of $437 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.9 billion and non-U.S. commercial loans of $3.0 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option . (4) Total outstandings includes U.S. commercial real estate loans of $57.2 billion and non-U.S. commercial real estate loans of $3.2 billion. (5) Includes PPP loans. (6) Total outstandings includes loans and leases pledged as collateral of $15.5 billion. The Corporation also pledged $153.1 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank. 30-59 Days (1) 60-89 Days Past Due (1) 90 Days or (1) Total Past Total Current or Less Than 30 Days Past Due (1) Loans Total Outstandings (Dollars in millions) December 31, 2019 Consumer real estate Core portfolio Residential mortgage $ 1,378 $ 261 $ 565 $ 2,204 $ 223,566 $ 225,770 Home equity 135 70 198 403 34,823 35,226 Non-core portfolio Residential mortgage 458 209 1,263 1,930 8,469 10,399 Home equity 34 16 72 122 4,860 4,982 Credit card and other consumer Credit card 564 429 1,042 2,035 95,573 97,608 Direct/Indirect consumer (2) 297 85 35 417 90,581 90,998 Other consumer — — — — 192 192 Total consumer 2,866 1,070 3,175 7,111 458,064 465,175 Consumer loans accounted for under the fair value option (3) $ 594 594 Total consumer loans and leases 2,866 1,070 3,175 7,111 458,064 594 465,769 Commercial U.S. commercial 788 279 371 1,438 305,610 307,048 Non-U.S. commercial 35 23 8 66 104,900 104,966 Commercial real estate (4) 144 19 119 282 62,407 62,689 Commercial lease financing 100 56 39 195 19,685 19,880 U.S. small business commercial 119 56 107 282 15,051 15,333 Total commercial 1,186 433 644 2,263 507,653 509,916 Commercial loans accounted for under the fair value option (3) 7,741 7,741 Total commercial loans and leases 1,186 433 644 2,263 507,653 7,741 517,657 Total loans and leases (5) $ 4,052 $ 1,503 $ 3,819 $ 9,374 $ 965,717 $ 8,335 $ 983,426 Percentage of outstandings 0.41 % 0.15 % 0.39 % 0.95 % 98.20 % 0.85 % 100.00 % (1) Consumer real estate loans 30-59 days past due includes fully-insured loans of $517 million and nonperforming loans of $139 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $206 million and nonperforming loans of $114 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $1.1 billion. Consumer real estate loans current or less than 30 days past due includes $856 million and direct/indirect consumer includes $45 million of nonperforming loans. (2) Total outstandings primarily includes auto and specialty lending loans and leases of $50.4 billion, U.S. securities-based lending loans of $36.7 billion and non-U.S. consumer loans of $2.8 billion. (3) Consumer loans accounted for under the fair value option includes residential mortgage loans of $257 million and home equity loans of $337 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $4.7 billion and non-U.S. commercial loans of $3.1 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option . (4) Total outstandings includes U.S. commercial real estate loans of $59.0 billion and non-U.S. commercial real estate loans of $3.7 billion. (5) Total outstandings includes loans and leases pledged as collateral of $25.9 billion. The Corporation also pledged $168.2 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
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 December 31, 2020 and 2019. 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 information on the Corporation's interest accrual policies, delinquency status for loan modifications related to the pandemic and the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles. Credit Quality Nonperforming Loans Accruing Past Due 90 Days or More (1) December 31 (Dollars in millions) 2020 2019 2020 2019 Residential mortgage (2) $ 2,005 $ 1,470 $ 762 $ 1,088 With no related allowance (3) 1,378 n/a — — Home equity (2) 649 536 — — With no related allowance (3) 347 n/a — — Credit Card n/a n/a 903 1,042 Direct/indirect consumer 71 47 33 33 Total consumer 2,725 2,053 1,698 2,163 U.S. commercial 1,243 1,094 228 106 Non-U.S. commercial 418 43 10 8 Commercial real estate 404 280 6 19 Commercial lease financing 87 32 25 20 U.S. small business commercial 75 50 115 97 Total commercial 2,227 1,499 384 250 Total nonperforming loans $ 4,952 $ 3,552 $ 2,082 $ 2,413 Percentage of outstanding loans and leases 0.54 % 0.36 % 0.23 % 0.25 % (1) For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the pandemic, see Note 1 – Summary of Significant Accounting Principles . (2) Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2020 and 2019 residential mortgage includes $537 million and $740 million of loans on which interest had been curtailed by the FHA, and therefore were no longer accruing interest, although principal was still insured, and $225 million and $348 million of loans on which interest was still accruing. (3) Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date. 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 and year of origination for term loan balances at December 31, 2020, including revolving loans that converted to term loans without an additional credit decision after origination or through a TDR. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of December 31, 2020 2020 2019 2018 2017 2016 Prior Total Residential Mortgage Refreshed LTV Less than or equal to 90 percent $ 207,389 $ 68,907 $ 43,771 $ 14,658 $ 21,589 $ 22,967 $ 35,497 Greater than 90 percent but less than or equal to 100 percent 3,138 1,970 684 128 70 96 190 Greater than 100 percent 1,210 702 174 47 39 37 211 Fully-insured loans 11,818 3,826 2,014 370 342 1,970 3,296 Total Residential Mortgage $ 223,555 $ 75,405 $ 46,643 $ 15,203 $ 22,040 $ 25,070 $ 39,194 Total Residential Mortgage Refreshed FICO score Less than 620 $ 2,717 $ 823 $ 177 $ 139 $ 170 $ 150 $ 1,258 Greater than or equal to 620 and less than 680 5,462 1,804 666 468 385 368 1,771 Greater than or equal to 680 and less than 740 25,349 8,533 4,679 1,972 2,427 2,307 5,431 Greater than or equal to 740 178,209 60,419 39,107 12,254 18,716 20,275 27,438 Fully-insured loans 11,818 3,826 2,014 370 342 1,970 3,296 Total Residential Mortgage $ 223,555 $ 75,405 $ 46,643 $ 15,203 $ 22,040 $ 25,070 $ 39,194 Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) December 31, 2020 Total Home Equity Refreshed LTV Less than or equal to 90 percent $ 33,447 $ 1,919 $ 22,639 $ 8,889 Greater than 90 percent but less than or equal to 100 percent 351 126 94 131 Greater than 100 percent 513 172 118 223 Total Home Equity $ 34,311 $ 2,217 $ 22,851 $ 9,243 Total Home Equity Refreshed FICO score Less than 620 $ 1,082 $ 250 $ 244 $ 588 Greater than or equal to 620 and less than 680 1,798 263 568 967 Greater than or equal to 680 and less than 740 5,762 556 2,905 2,301 Greater than or equal to 740 25,669 1,148 19,134 5,387 Total Home Equity $ 34,311 $ 2,217 $ 22,851 $ 9,243 (1) Includes reverse mortgages of $1.3 billion and home equity loans of $885 million which are no longer originated. Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage Direct/Indirect Term Loans by Origination Year Credit Card (Dollars in millions) Total Direct/Indirect as of December 31, 2020 Revolving Loans 2020 2019 2018 2017 2016 Prior Total Credit Card as of December 31, 2020 Revolving Loans Revolving Loans Converted to Term Loans (3) Refreshed FICO score Less than 620 $ 959 $ 19 $ 111 $ 200 $ 175 $ 243 $ 148 $ 63 $ 4,018 $ 3,832 $ 186 Greater than or equal to 620 and less than 680 2,143 20 653 559 329 301 176 105 9,419 9,201 218 Greater than or equal to 680 and less than 740 7,431 80 2,848 2,015 1,033 739 400 316 27,585 27,392 193 Greater than or equal to 740 36,064 120 12,540 10,588 5,869 3,495 1,781 1,671 37,686 37,642 44 Other internal credit metrics (1, 2) 44,766 44,098 74 115 84 67 52 276 — — — Total credit card and other $ 91,363 $ 44,337 $ 16,226 $ 13,477 $ 7,490 $ 4,845 $ 2,557 $ 2,431 $ 78,708 $ 78,067 $ 641 (1) Other internal credit metrics may include delinquency status, geography or other factors. (2) Direct/indirect consumer includes $44.1 billion of securities-based lending which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at December 31, 2020. (3) Represents TDRs that were modified into term loans. Commercial – Credit Quality Indicators By Vintage (1, 2) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans U.S. Commercial Risk ratings Pass rated $ 268,812 $ 33,456 $ 33,305 $ 17,363 $ 14,102 $ 7,420 $ 21,784 $ 141,382 Reservable criticized 19,916 2,524 2,542 2,689 854 698 1,402 9,207 Total U.S. Commercial $ 288,728 $ 35,980 $ 35,847 $ 20,052 $ 14,956 $ 8,118 $ 23,186 $ 150,589 Non-U.S. Commercial Risk ratings Pass rated $ 85,914 $ 16,301 $ 11,396 $ 7,451 $ 5,037 $ 1,674 $ 2,194 $ 41,861 Reservable criticized 4,546 914 572 492 436 138 259 1,735 Total Non-U.S. Commercial $ 90,460 $ 17,215 $ 11,968 $ 7,943 $ 5,473 $ 1,812 $ 2,453 $ 43,596 Commercial Real Estate Risk ratings Pass rated $ 50,260 $ 8,429 $ 14,126 $ 8,228 $ 4,599 $ 3,299 $ 6,542 $ 5,037 Reservable criticized 10,104 933 2,558 2,115 1,582 606 1,436 874 Total Commercial Real Estate $ 60,364 $ 9,362 $ 16,684 $ 10,343 $ 6,181 $ 3,905 $ 7,978 $ 5,911 Commercial Lease Financing Risk ratings Pass rated $ 16,384 $ 3,083 $ 3,242 $ 2,956 $ 2,532 $ 1,703 $ 2,868 $ — Reservable criticized 714 117 117 132 81 88 179 — Total Commercial Lease Financing $ 17,098 $ 3,200 $ 3,359 $ 3,088 $ 2,613 $ 1,791 $ 3,047 $ — U.S. Small Business Commercial (3) Risk ratings Pass rated $ 28,786 $ 24,539 $ 1,121 $ 837 $ 735 $ 527 $ 855 $ 172 Reservable criticized 1,148 76 239 210 175 113 322 13 Total U.S. Small Business Commercial $ 29,934 $ 24,615 $ 1,360 $ 1,047 $ 910 $ 640 $ 1,177 $ 185 Total (1, 2) $ 486,584 $ 90,372 $ 69,218 $ 42,473 $ 30,133 $ 16,266 $ 37,841 $ 200,281 (1) Excludes $5.9 billion of loans accounted for under the fair value option at December 31, 2020. (2) Includes $58 million of loans that converted from revolving to term loans. (3) Excludes U.S. Small Business Card loans of $6.5 billion. Refreshed FICO scores for this portfolio are $265 million for less than 620; $582 million for greater than or equal to 620 and less than 680; $1.7 billion for greater than or equal to 680 and less than 740; and $3.9 billion greater than or equal to 740.
Troubled Debt Restructurings on Financing Receivables	The table below presents the December 31, 2020, 2019 and 2018 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during 2020, 2019 and 2018. 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 2020, 2019 and 2018 (1) Unpaid Principal Balance Carrying Pre-Modification Interest Rate Post-Modification Interest Rate (2) (Dollars in millions) December 31, 2020 Residential mortgage $ 732 $ 646 3.66 % 3.59 % Home equity 87 69 3.67 3.61 Total $ 819 $ 715 3.66 3.59 December 31, 2019 Residential mortgage $ 464 $ 377 4.19 % 4.13 % Home equity 141 101 5.04 4.31 Total $ 605 $ 478 4.39 4.17 December 31, 2018 Residential mortgage $ 774 $ 641 4.33 % 4.21 % Home equity 489 358 4.46 3.74 Total $ 1,263 $ 999 4.38 4.03 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles. (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. The table below presents the December 31, 2020, 2019 and 2018 carrying value for consumer real estate loans that were modified in a TDR during 2020, 2019 and 2018, by type of modification. Consumer Real Estate – Modification Programs (1) TDRs Entered into During (Dollars in millions) 2020 2019 2018 Modifications under government programs $ 13 $ 35 $ 61 Modifications under proprietary programs 570 174 523 Loans discharged in Chapter 7 bankruptcy (2) 53 68 130 Trial modifications 79 201 285 Total modifications $ 715 $ 478 $ 999 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles . (2) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. The table below presents the carrying value of consumer real estate loans that entered into payment default during 2020, 2019 and 2018 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. Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months (1) (Dollars in millions) 2020 2019 2018 Modifications under government programs $ 16 $ 26 $ 39 Modifications under proprietary programs 51 88 158 Loans discharged in Chapter 7 bankruptcy (2) 19 30 64 Trial modifications (3) 54 57 107 Total modifications $ 140 $ 201 $ 368 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles . (2) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. (3) Includes trial modification offers to which the customer did not respond. Credit Card and Other Consumer – TDRs Entered into During 2020, 2019 and 2018 (1) Unpaid Principal Balance Carrying (2) Pre-Modification Interest Rate Post-Modification Interest Rate (Dollars in millions) December 31, 2020 Credit card $ 269 $ 277 18.16 % 5.63 % Direct/Indirect consumer 52 37 5.83 5.83 Total $ 321 $ 314 16.70 5.65 December 31, 2019 Credit card $ 340 $ 355 19.18 % 5.35 % Direct/Indirect consumer 40 21 5.23 5.21 Total $ 380 $ 376 18.42 5.34 December 31, 2018 Credit card $ 278 $ 292 19.49 % 5.24 % Direct/Indirect consumer 42 23 5.10 4.95 Total $ 320 $ 315 18.45 5.22 (1) For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles. (2) Includes accrued interest and fees. The table below presents the December 31, 2020, 2019 and 2018 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during 2020, 2019 and 2018, by program type. Credit Card and Other Consumer – TDRs by Program Type at December 31 (1) (Dollars in millions) 2020 2019 2018 Internal programs $ 225 $ 247 $ 199 External programs 73 108 93 Other 16 21 23 Total $ 314 $ 376 $ 315 (1) Includes accrued interest and fees. For more information on the Corporation's loan modification programs offered in response to the pandemic, most of which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
Changes in the Allowance for Credit Losses	The changes in the allowance for credit losses, including net charge-offs and provision for loan and lease losses, are detailed in the table below. Consumer Credit Card and Commercial Total (Dollars in millions) 2020 Allowance for loan and lease losses, January 1 $ 440 $ 7,430 $ 4,488 $ 12,358 Loans and leases charged off (98) (3,646) (1,675) (5,419) Recoveries of loans and leases previously charged off 201 891 206 1,298 Net charge-offs 103 (2,755) (1,469) (4,121) Provision for loan and lease losses 307 4,538 5,720 10,565 Other (1) 8 — (8) — Allowance for loan and lease losses, December 31 858 9,213 8,731 18,802 Reserve for unfunded lending commitments, January 1 119 — 1,004 1,123 Provision for unfunded lending commitments 18 — 737 755 Reserve for unfunded lending commitments, December 31 137 — 1,741 1,878 Allowance for credit losses, December 31 $ 995 $ 9,213 $ 10,472 $ 20,680 2019 Allowance for loan and lease losses, January 1 $ 928 $ 3,874 $ 4,799 $ 9,601 Loans and leases charged off (522) (4,302) (822) (5,646) Recoveries of loans and leases previously charged off 927 911 160 1,998 Net charge-offs 405 (3,391) (662) (3,648) Provision for loan and lease losses (680) 3,512 742 3,574 Other (1) (107) 1 (5) (111) Allowance for loan and lease losses, December 31 546 3,996 4,874 9,416 Reserve for unfunded lending commitments, January 1 — — 797 797 Provision for unfunded lending commitments — — 16 16 Reserve for unfunded lending commitments, December 31 — — 813 813 Allowance for credit losses, December 31 $ 546 $ 3,996 $ 5,687 $ 10,229 2018 Allowance for loan and lease losses, January 1 $ 1,720 $ 3,663 $ 5,010 $ 10,393 Loans and leases charged off (690) (4,037) (675) (5,402) Recoveries of loans and leases previously charged off 664 823 152 1,639 Net charge-offs (26) (3,214) (523) (3,763) Provision for loan and lease losses (492) 3,441 313 3,262 Other (1) (274) (16) (1) (291) Allowance for loan and lease losses, December 31 928 3,874 4,799 9,601 Reserve for unfunded lending commitments, January 1 — — 777 777 Provision for unfunded lending commitments — — 20 20 Reserve for unfunded lending commitments, December 31 — — 797 797 Allowance for credit losses, December 31 $ 928 $ 3,874 $ 5,596 $ 10,398 (1) Primarily represents write-offs of purchased credit-impaired loans in 2019, and the net impact of portfolio sales, transfers to held-for-sale and transfers to foreclosed properties.

Securitizations and Other Var_2

Securitizations and Other Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Mortgage Related Securitizations	The table below summarizes select information related to first-lien mortgage securitizations for 2020, 2019 and 2018. First-lien Mortgage Securitizations Residential Mortgage - Agency Commercial Mortgage (Dollars in millions) 2020 2019 2018 2020 2019 2018 Proceeds from loan sales (1) $ 15,823 $ 6,858 $ 5,801 $ 5,084 $ 8,661 $ 6,991 Gains on securitizations (2) 728 27 62 61 103 101 Repurchases from securitization trusts (3) 436 881 1,485 — — — (1) The Corporation transfers residential mortgage loans to securitizations sponsored primarily by the GSEs or GNMA in the normal course of business and primarily receives RMBS in exchange. Substantially all of these securities are classified as Level 2 within the fair value hierarchy and are typically sold shortly after receipt. (2) A majority of the first-lien residential 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 $160 million, $64 million and $71 million net of hedges, during 2020, 2019 and 2018, respectively, are not included in the table above. (3) 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. The Corporation may also repurchase loans from securitization trusts to perform modifications. Repurchased loans include FHA-insured mortgages collateralizing GNMA securities.
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The following table summarizes select information related to home equity, credit card and other asset-backed VIEs in which the Corporation held a variable interest at December 31, 2020 and 2019. Home Equity Loan, Credit Card and Other Asset-backed VIEs Home Equity (1) Credit Card (2) Resecuritization Trusts Municipal Bond Trusts December 31 (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Unconsolidated VIEs Maximum loss exposure $ 206 $ 412 $ — $ — $ 8,543 $ 7,526 $ 3,507 $ 3,701 On-balance sheet assets Securities (3) : Trading account assets $ — $ — $ — $ — $ 948 $ 2,188 $ — $ — Debt securities carried at fair value 2 11 — — 2,727 1,126 — — Held-to-maturity securities — — — — 4,868 4,212 — — Total retained positions $ 2 $ 11 $ — $ — $ 8,543 $ 7,526 $ — $ — Total assets of VIEs $ 609 $ 1,023 $ — $ — $ 17,250 $ 21,234 $ 4,042 $ 4,395 Consolidated VIEs Maximum loss exposure $ 58 $ 64 $ 14,606 $ 17,915 $ 217 $ 54 $ 1,030 $ 2,656 On-balance sheet assets Trading account assets $ — $ — $ — $ — $ 217 $ 73 $ 990 $ 2,480 Loans and leases 218 122 21,310 26,985 — — — — Allowance for loan and lease losses 14 (2) (1,704) (800) — — — — All other assets 4 3 1,289 119 — — 40 176 Total assets $ 236 $ 123 $ 20,895 $ 26,304 $ 217 $ 73 $ 1,030 $ 2,656 On-balance sheet liabilities Short-term borrowings $ — $ — $ — $ — $ — $ — $ 432 $ 2,175 Long-term debt 178 64 6,273 8,372 — 19 — — All other liabilities — — 16 17 — — — — Total liabilities $ 178 $ 64 $ 6,289 $ 8,389 $ — $ 19 $ 432 $ 2,175 (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 reserve for representations and warranties obligations and corporate guarantees. For more information, see Note 12 – Commitments and Contingencies . (2) At December 31, 2020 and 2019, loans and leases in the consolidated credit card trust included $7.6 billion and $10.5 billion of seller’s interest.
First Lien Mortgages
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The following table summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at December 31, 2020 and 2019. First-lien Mortgage VIEs Residential Mortgage Non-agency Agency Prime Subprime Alt-A Commercial Mortgage December 31 (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Unconsolidated VIEs Maximum loss exposure (1) $ 13,477 $ 12,554 $ 250 $ 340 $ 1,031 $ 1,622 $ 46 $ 98 $ 1,169 $ 1,036 On-balance sheet assets Senior securities: Trading account assets $ 152 $ 627 $ 2 $ 5 $ 8 $ 54 $ 12 $ 24 $ 60 $ 65 Debt securities carried at fair value 7,588 6,392 103 193 676 1,178 33 72 — — Held-to-maturity securities 5,737 5,535 — — — — — — 925 809 All other assets — — 6 2 26 49 1 2 50 38 Total retained positions $ 13,477 $ 12,554 $ 111 $ 200 $ 710 $ 1,281 $ 46 $ 98 $ 1,035 $ 912 Principal balance outstanding (2) $ 133,497 $ 160,226 $ 6,081 $ 7,268 $ 6,691 $ 8,594 $ 16,554 $ 19,878 $ 59,268 $ 60,129 Consolidated VIEs Maximum loss exposure (1) $ 1,328 $ 10,857 $ 66 $ 5 $ 53 $ 44 $ — $ — $ — $ — On-balance sheet assets Trading account assets $ 1,328 $ 780 $ 350 $ 116 $ 260 $ 149 $ — $ — $ — $ — Loans and leases, net — 9,917 — — — — — — — — All other assets — 161 — — — — — — — — Total assets $ 1,328 $ 10,858 $ 350 $ 116 $ 260 $ 149 $ — $ — $ — $ — Total liabilities $ — $ 4 $ 284 $ 111 $ 207 $ 105 $ — $ — $ — $ — (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 reserve for representations and warranties obligations and corporate guarantees and also excludes servicing advances and other servicing rights and obligations. For more information, see Note 12 – Commitments and Contingencies and Note 20 – Fair Value Measurements . (2) Principal balance outstanding includes loans where the Corporation was the transferor to securitization VIEs with which it has continuing involvement, which may include servicing the loans.
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 December 31, 2020 and 2019. Other VIEs Consolidated Unconsolidated Total Consolidated Unconsolidated Total (Dollars in millions) December 31, 2020 December 31, 2019 Maximum loss exposure (1) $ 4,106 $ 23,870 $ 27,976 $ 4,055 $ 21,069 $ 25,124 On-balance sheet assets Trading account assets (1) $ 2,080 $ 623 $ 2,703 $ 2,213 $ 549 $ 2,762 Debt securities carried at fair value (1) — 9 9 — 10 10 Loans and leases (1) 2,108 184 2,292 1,810 533 2,343 Allowance for loan and lease losses (1) (3) (3) (6) (2) — (2) All other assets (1) 54 22,553 22,607 81 19,354 19,435 Total (1) $ 4,239 $ 23,366 $ 27,605 $ 4,102 $ 20,446 $ 24,548 On-balance sheet liabilities Short-term borrowings $ 22 $ — $ 22 $ — $ — $ — Long-term debt 111 — 111 46 — 46 All other liabilities (1) — 5,658 5,658 2 4,896 4,898 Total (1) $ 133 $ 5,658 $ 5,791 $ 48 $ 4,896 $ 4,944 Total assets of VIEs (1) $ 4,239 $ 77,984 $ 82,223 $ 4,102 $ 70,120 $ 74,222

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The table below presents goodwill balances by business segment and All Other at December 31, 2020 and 2019. The reporting units utilized for goodwill impairment testing are the operating segments or one level below . Goodwill December 31 (Dollars in millions) December 31 December 31 Consumer Banking $ 30,123 $ 30,123 Global Wealth & Investment Management 9,677 9,677 Global Banking 23,923 23,923 Global Markets 5,182 5,182 All Other 46 46 Total goodwill $ 68,951 $ 68,951

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Net Investment in Sales-type and Direct Financing Leases	The following table presents the net investment in sales-type and direct financing leases at December 31, 2020 and 2019. Net Investment (1) December 31 (Dollars in millions) 2020 2019 Lease receivables $ 17,627 $ 19,312 Unguaranteed residuals 2,303 2,550 Total net investment in sales-type and direct $ 19,930 $ 21,862 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.9 billion and $5.8 billion at December 31, 2020 and 2019.
Sales-type Lease, Lease Income	The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688
Operating Lease, Lease Income	The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688
Direct Financing Lease, Lease Income	The following table presents lease income at December 31, 2020 and 2019. Lease Income December 31 (Dollars in millions) 2020 2019 Sales-type and direct financing leases $ 707 $ 797 Operating leases 931 891 Total lease income $ 1,638 $ 1,688
Lease, Cost	The following table provides information on the right-of-use assets, lease liabilities and weighted-average discount rates and lease terms at December 31, 2020 and 2019. Lessee Arrangements December 31 (Dollars in millions) 2020 2019 Right-of-use asset $ 10,000 $ 9,735 Lease liabilities 10,474 10,093 Weighted-average discount rate used to calculate present value of future minimum lease payments 3.38 % 3.68 % Weighted-average lease term (in years) 8.4 8.2 Lease Cost and Supplemental Information: Operating lease cost $ 2,149 $ 2,085 Variable lease cost (1) 474 498 Total lease cost (2) $ 2,623 $ 2,583 Right-of-use assets obtained in exchange for new operating lease liabilities (3) $ 851 $ 931 Operating cash flows from operating leases (4) 2,039 2,009 (1) Primarily consists of payments for common area maintenance and property taxes. (2) Amounts are recorded in occupancy and equipment expense in the Consolidated Statement of Income. (3) Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows. (4) Represents cash paid for amounts included in the measurements of lease liabilities.
Lessor, Maturities of Operating Lease Payments to be Received	The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
Lessor, Maturity of Lease Receivable of Sales-type of and Direct Financing Lease	The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.
Lessee, Maturity of Operating Lease Liability	The maturities of lessor and lessee arrangements outstanding at December 31, 2020 are presented in the table below based on undiscounted cash flows. Maturities of Lessor and Lessee Arrangements Lessor Lessee (1) Operating Sales-type and Direct Financing Leases (2) Operating (Dollars in millions) December 31, 2020 2021 $ 843 $ 5,424 $ 1,927 2022 748 4,934 1,715 2023 630 3,637 1,454 2024 479 2,089 1,308 2025 339 1,143 1,087 Thereafter 886 1,668 4,609 Total undiscounted cash flows $ 3,925 18,895 12,100 Less: Net present value adjustment 1,268 1,626 Total (3) $ 17,627 $ 10,474 (1) Excludes $885 million in commitments under lessee arrangements that have not yet commenced with lease terms that will begin in 2021. (2) Includes $12.7 billion in commercial lease financing receivables and $4.9 billion in direct/indirect consumer lease financing receivables. (3) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Schedule of Time Deposits	The table below presents information about the Corporation’s time deposits of $100,000 or more at December 31, 2020 and 2019. The Corporation also had aggregate time deposits of $10.7 billion and $15.8 billion in denominations that met or exceeded the Federal Deposit Insurance Corporation (FDIC) insurance limit at December 31, 2020 and 2019. Time Deposits of $100,000 or More December 31, 2020 December 31 (Dollars in millions) Three Months Over Three Thereafter Total Total U.S. certificates of deposit and other time deposits $ 12,485 $ 10,668 $ 1,445 $ 24,598 $ 39,739 Non-U.S. certificates of deposit and other time deposits 8,568 1,925 1,432 11,925 13,034 The scheduled contractual maturities for total time deposits at December 31, 2020 are presented in the table below. Contractual Maturities of Total Time Deposits (Dollars in millions) U.S. Non-U.S. Total Due in 2021 $ 40,052 $ 10,609 $ 50,661 Due in 2022 2,604 167 2,771 Due in 2023 431 4 435 Due in 2024 222 5 227 Due in 2025 186 13 199 Thereafter 276 1,287 1,563 Total time deposits $ 43,771 $ 12,085 $ 55,856

Federal Funds Sold or Purchas_2

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2020
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 fair value option, see Note 21 – Fair Value Option . Amount Rate Amount Rate (Dollars in millions) 2020 2019 Federal funds sold and securities borrowed or purchased under agreements to resell Average during year $ 309,945 0.29 % $ 279,610 1.73 % Maximum month-end balance during year 451,179 n/a 281,684 n/a Federal funds purchased and securities loaned or sold under agreements to repurchase Average during year $ 192,479 0.69 % $ 201,797 2.31 % Maximum month-end balance during year 206,493 n/a 203,063 n/a Short-term borrowings Average during year 22,486 0.54 24,301 2.42 Maximum month-end balance during year 30,118 n/a 36,538 n/a n/a = not applicable
Offsetting Liabilities [Line Items]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	The following tables 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. Remaining Contractual Maturity Overnight and Continuous 30 Days or Less After 30 Days Through 90 Days Greater than 90 Days (1) Total (Dollars in millions) December 31, 2020 Securities sold under agreements to repurchase $ 158,400 $ 122,448 $ 32,149 $ 22,684 $ 335,681 Securities loaned 19,140 271 1,029 2,531 22,971 Other 16,210 — — — 16,210 Total $ 193,750 $ 122,719 $ 33,178 $ 25,215 $ 374,862 December 31, 2019 Securities sold under agreements to repurchase $ 129,455 $ 122,685 $ 25,322 $ 21,922 $ 299,384 Securities loaned 18,766 3,329 1,241 2,049 25,385 Other 15,346 — — — 15,346 Total $ 163,567 $ 126,014 $ 26,563 $ 23,971 $ 340,115 (1) No agreements have maturities greater than three years. Class of Collateral Pledged Securities Sold Under Agreements to Repurchase Securities Other Total (Dollars in millions) December 31, 2020 U.S. government and agency securities $ 195,167 $ 5 $ — $ 195,172 Corporate securities, trading loans and other 8,633 1,628 1,217 11,478 Equity securities 14,752 21,125 14,931 50,808 Non-U.S. sovereign debt 113,142 213 62 113,417 Mortgage trading loans and ABS 3,987 — — 3,987 Total $ 335,681 $ 22,971 $ 16,210 $ 374,862 December 31, 2019 U.S. government and agency securities $ 173,533 $ 1 $ — $ 173,534 Corporate securities, trading loans and other 10,467 2,014 258 12,739 Equity securities 14,933 20,026 15,024 49,983 Non-U.S. sovereign debt 96,576 3,344 64 99,984 Mortgage trading loans and ABS 3,875 — — 3,875 Total $ 299,384 $ 25,385 $ 15,346 $ 340,115
Securities Borrowed And Securities Purchased Under Agreements To Resell
Offsetting Liabilities [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 December 31, 2020 and 2019. Balances are presented on a gross basis, prior to the application of counterparty netting. Gross assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements. For more information on the offsetting of derivatives, see Note 3 – Derivatives . Securities Financing Agreements Gross Assets/Liabilities (1) Amounts Offset Net Balance Sheet Amount Financial Instruments (2) Net Assets/Liabilities (Dollars in millions) December 31, 2020 Securities borrowed or purchased under agreements to resell (3) $ 492,387 $ (188,329) $ 304,058 $ (272,351) $ 31,707 Securities loaned or sold under agreements to repurchase $ 358,652 $ (188,329) $ 170,323 $ (158,867) $ 11,456 Other (4) 16,210 — 16,210 (16,210) — Total $ 374,862 $ (188,329) $ 186,533 $ (175,077) $ 11,456 December 31, 2019 Securities borrowed or purchased under agreements to resell (3) $ 434,257 $ (159,660) $ 274,597 $ (244,486) $ 30,111 Securities loaned or sold under agreements to repurchase $ 324,769 $ (159,660) $ 165,109 $ (141,482) $ 23,627 Other (4) 15,346 — 15,346 (15,346) — Total $ 340,115 $ (159,660) $ 180,455 $ (156,828) $ 23,627 (1) Includes activity where uncertainty exists as to the enforceability of certain master netting agreements under bankruptcy laws in some countries or industries. (2) 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 derive a net asset or liability. Securities collateral received or pledged where the legal enforceability of the master netting agreements is uncertain is excluded from the table. (3) Excludes repurchase activity of $14.7 billion and $12.9 billion reported in loans and leases on the Consolidated Balance Sheet at December 31, 2020 and 2019. (4) Balance is reported in accrued expenses and other liabilities on the Consolidated Balance Sheet and 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.
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 December 31, 2020 and 2019. Balances are presented on a gross basis, prior to the application of counterparty netting. Gross assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements. For more information on the offsetting of derivatives, see Note 3 – Derivatives . Securities Financing Agreements Gross Assets/Liabilities (1) Amounts Offset Net Balance Sheet Amount Financial Instruments (2) Net Assets/Liabilities (Dollars in millions) December 31, 2020 Securities borrowed or purchased under agreements to resell (3) $ 492,387 $ (188,329) $ 304,058 $ (272,351) $ 31,707 Securities loaned or sold under agreements to repurchase $ 358,652 $ (188,329) $ 170,323 $ (158,867) $ 11,456 Other (4) 16,210 — 16,210 (16,210) — Total $ 374,862 $ (188,329) $ 186,533 $ (175,077) $ 11,456 December 31, 2019 Securities borrowed or purchased under agreements to resell (3) $ 434,257 $ (159,660) $ 274,597 $ (244,486) $ 30,111 Securities loaned or sold under agreements to repurchase $ 324,769 $ (159,660) $ 165,109 $ (141,482) $ 23,627 Other (4) 15,346 — 15,346 (15,346) — Total $ 340,115 $ (159,660) $ 180,455 $ (156,828) $ 23,627 (1) Includes activity where uncertainty exists as to the enforceability of certain master netting agreements under bankruptcy laws in some countries or industries. (2) 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 derive a net asset or liability. Securities collateral received or pledged where the legal enforceability of the master netting agreements is uncertain is excluded from the table. (3) Excludes repurchase activity of $14.7 billion and $12.9 billion reported in loans and leases on the Consolidated Balance Sheet at December 31, 2020 and 2019. (4) Balance is reported in accrued expenses and other liabilities on the Consolidated Balance Sheet and 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.

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Balance of Long-term Debt	Long-term debt consists of borrowings having an original maturity of one year or more. The table below presents the balance of long-term debt at December 31, 2020 and 2019, and the related contractual rates and maturity dates as of December 31, 2020. Weighted-average Rate December 31 (Dollars in millions) Interest Rates Maturity Dates 2020 2019 Notes issued by Bank of America Corporation (1) Senior notes: Fixed 3.05 % 0.25 - 8.05 % 2021 - 2051 $ 174,385 $ 140,265 Floating 0.74 0.09 - 4.96 2021 - 2044 16,788 19,552 Senior structured notes 17,033 16,941 Subordinated notes: Fixed 4.89 2.94 - 8.57 2021 - 2045 23,337 21,632 Floating 1.15 0.88 - 1.41 2022 - 2026 799 782 Junior subordinated notes: Fixed 6.71 6.45 - 8.05 2027 - 2066 738 736 Floating 1.03 1.03 2056 1 1 Total notes issued by Bank of America Corporation 233,081 199,909 Notes issued by Bank of America, N.A. Senior notes: Fixed 3.34 3.34 2023 511 508 Floating 0.33 0.28 - 0.49 2021 - 2041 2,323 6,519 Subordinated notes 6.00 6.00 2036 1,883 1,744 Advances from Federal Home Loan Banks: Fixed 0.99 0.01 - 7.72 2021 - 2034 599 112 Floating — 2,500 Securitizations and other BANA VIEs (2) 6,296 8,373 Other 683 402 Total notes issued by Bank of America, N.A. 12,295 20,158 Other debt Structured liabilities 16,792 20,442 Nonbank VIEs (2) 757 347 Other 9 — Total notes issued by nonbank and other entities 17,558 20,789 Total long-term debt $ 262,934 $ 240,856 (1) Includes total loss-absorbing capacity compliant debt. (2) Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.
Schedule of Maturities of Long-term Debt	The table below shows the carrying value for aggregate annual contractual maturities of long-term debt as of December 31, 2020. Included in the table are certain structured notes issued by the Corporation that contain provisions whereby the borrowings are redeemable at the option of the holder (put options) at specified dates prior to maturity. Other structured notes have coupon or repayment terms linked to the performance of debt or equity securities, indices, currencies or commodities, and the maturity may be accelerated based on the value of a referenced index or security. In both cases, the Corporation or a subsidiary may be required to settle the obligation for cash or other securities prior to the contractual maturity date. These borrowings are reflected in the table as maturing at their contractual maturity date. Long-term Debt by Maturity (Dollars in millions) 2021 2022 2023 2024 2025 Thereafter Total Bank of America Corporation Senior notes $ 8,888 $ 15,380 $ 23,872 $ 21,407 $ 15,723 $ 105,903 $ 191,173 Senior structured notes 469 2,034 597 190 549 13,194 17,033 Subordinated notes 371 393 — 3,351 5,537 14,484 24,136 Junior subordinated notes — — — — — 739 739 Total Bank of America Corporation 9,728 17,807 24,469 24,948 21,809 134,320 233,081 Bank of America, N.A. Senior notes 1,340 975 511 — — 8 2,834 Subordinated notes — — — — — 1,883 1,883 Advances from Federal Home Loan Banks 502 3 1 — 18 75 599 Securitizations and other Bank VIEs (1) 4,056 1,241 977 — — 22 6,296 Other 112 16 189 — 279 87 683 Total Bank of America, N.A. 6,010 2,235 1,678 — 297 2,075 12,295 Other debt Structured Liabilities 4,613 2,414 2,221 655 859 6,030 16,792 Nonbank VIEs (1) 1 — — — — 756 757 Other — — — — — 9 9 Total other debt 4,614 2,414 2,221 655 859 6,795 17,558 Total long-term debt $ 20,352 $ 22,456 $ 28,368 $ 25,603 $ 22,965 $ 143,190 $ 262,934 (1) Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit Extension Commitment Expirations	The table below includes the notional amount of commitments of $4.0 billion and $4.4 billion at December 31, 2020 and 2019 that are accounted for under the fair value option. However, the table excludes cumulative net fair value of $99 million and $90 million at December 31, 2020 and 2019 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 21 – Fair Value Option. Credit Extension Commitments Expire in One Expire After One Expire After Three Years Through Expire After Total (Dollars in millions) December 31, 2020 Notional amount of credit extension commitments Loan commitments (1) $ 109,406 $ 171,887 $ 139,508 $ 16,091 $ 436,892 Home equity lines of credit 710 2,992 8,738 29,892 42,332 Standby letters of credit and financial guarantees (2) 19,962 12,038 2,397 1,257 35,654 Letters of credit (3) 886 197 25 27 1,135 Legally binding commitments 130,964 187,114 150,668 47,267 516,013 Credit card lines (4) 384,955 — — — 384,955 Total credit extension commitments $ 515,919 $ 187,114 $ 150,668 $ 47,267 $ 900,968 December 31, 2019 Notional amount of credit extension commitments Loan commitments (1) $ 97,454 $ 148,000 $ 173,699 $ 24,487 $ 443,640 Home equity lines of credit 1,137 1,948 6,351 34,134 43,570 Standby letters of credit and financial guarantees (2) 21,311 11,512 3,712 408 36,943 Letters of credit (3) 1,156 254 65 25 1,500 Legally binding commitments 121,058 161,714 183,827 59,054 525,653 Credit card lines (4) 376,067 — — — 376,067 Total credit extension commitments $ 497,125 $ 161,714 $ 183,827 $ 59,054 $ 901,720 (1) At December 31, 2020 and 2019, $4.8 billion and $5.1 billion of these loan commitments were held in the form of a security. (2) 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 $25.0 billion and $10.2 billion at December 31, 2020, and $27.9 billion and $8.6 billion at December 31, 2019. Amounts in the table include consumer SBLCs of $500 million and $413 million at December 31, 2020 and 2019. (3) At December 31, 2020 and 2019, included are letters of credit of $1.8 billion and $1.4 billion related to certain liquidity commitments of VIEs. For more information, see Note 6 – Securitizations and Other Variable Interest Entities .

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Dividends	Declared Quarterly Cash Dividends on Common Stock (1) Declaration Date Record Date Payment Date Dividend Per Share January 19, 2021 March 5, 2021 March 26, 2021 $ 0.18 October 21, 2020 December 4, 2020 December 24, 2020 0.18 July 22, 2020 September 4, 2020 September 25, 2020 0.18 April 22, 2020 June 5, 2020 June 26, 2020 0.18 January 29, 2020 March 6, 2020 March 27, 2020 0.18 (1) In 2020, and through February 24, 2021.
Schedule of Stockholders Equity	The following table summarizes common stock repurchases during 2020, 2019 and 2018. Common Stock Repurchase Summary (in millions) 2020 2019 2018 Total share repurchases, including CCAR 227 956 676 Purchase price of shares repurchased CCAR capital plan repurchases $ 7,025 $ 25,644 $ 16,754 Other authorized repurchases — 2,500 3,340 Total shares repurchased $ 7,025 $ 28,144 $ 20,094 The table below presents a summary of perpetual preferred stock outstanding at December 31, 2020. Preferred Stock Summary (Dollars in millions, except as noted) Series Description Initial Total Liquidation Carrying Per Annum Dividend per Share Annual Dividend Redemption Period (1) Series B 7% Cumulative Redeemable June 7,110 $ 100 $ 1 7.00 % $ 7 $ — n/a Series E (2) Floating Rate Non-Cumulative November 12,691 25,000 317 3-mo. LIBOR + 35 bps (3) 1.02 13 On or after Series F Floating Rate Non-Cumulative March 1,409 100,000 141 3-mo. LIBOR + 40 bps (3) 4,066.67 6 On or after Series G Adjustable Rate Non-Cumulative March 4,926 100,000 493 3-mo. LIBOR + 40 bps (3) 4,066.67 20 On or after Series L 7.25% Non-Cumulative Perpetual Convertible January 3,080,182 1,000 3,080 7.25 % 72.50 223 n/a Series T 6% Non-cumulative September 354 100,000 35 6.00 % 6,000.00 2 After May 7, 2019 Series U (4) Fixed-to-Floating Rate Non-Cumulative May 40,000 25,000 1,000 5.2% to, but excluding, 6/1/23; 3-mo. LIBOR + 313.5 bps thereafter 52.00 52 On or after Series X (4) Fixed-to-Floating Rate Non-Cumulative September 80,000 25,000 2,000 6.250% to, but excluding, 9/5/24; 3-mo. LIBOR + 370.5 bps thereafter 62.50 125 On or after Series Z (4) Fixed-to-Floating Rate Non-Cumulative October 56,000 25,000 1,400 6.500% to, but excluding, 10/23/24; 3-mo. LIBOR + 417.4 bps thereafter 65.00 91 On or after Series AA (4) Fixed-to-Floating Rate Non-Cumulative March 76,000 25,000 1,900 6.100% to, but excluding, 3/17/25; 3-mo. LIBOR + 389.8 bps thereafter 61.00 116 On or after Series CC (2) 6.200% Non-Cumulative January 44,000 25,000 1,100 6.200 % 1.55 68 On or after Series DD (4) Fixed-to-Floating Rate Non-Cumulative March 40,000 25,000 1,000 6.300% to, but excluding, 3/10/26; 3-mo. LIBOR + 455.3 bps thereafter 63.00 63 On or after Series EE (2) 6.000% Non-Cumulative April 36,000 25,000 900 6.000 % 1.50 54 On or after Series FF (4) Fixed-to-Floating Rate Non-Cumulative March 94,000 25,000 2,350 5.875% to, but excluding, 3/15/28; 3-mo. LIBOR + 293.1 bps thereafter 58.75 138 On or after Series GG (2) 6.000% Non-Cumulative May 54,000 25,000 1,350 6.000 % 1.50 81 On or after Series HH (2) 5.875% Non-Cumulative July 34,160 25,000 854 5.875 % 1.47 50 On or after Series JJ (4) Fixed-to-Floating Rate Non-Cumulative June 40,000 25,000 1,000 5.125% to, but excluding, 6/20/24; 3-mo. LIBOR + 329.2 bps thereafter 51.25 51 On or after Series KK (2) 5.375% Non-Cumulative June 55,900 25,000 1,398 5.375 % 1.34 75 On or after Series LL (2) 5.000% Non-Cumulative September 52,400 25,000 1,310 5.000 % 1.25 66 On or after Series MM (4) Fixed-to-Floating Rate Non-Cumulative January 44,000 25,000 1,100 4.300 % 43.48 48 On or after Series NN (2) 4.375% Non-Cumulative October 44,000 25,000 1,100 4.375 % 0.29 13 On or after Series 1 (5) Floating Rate Non-Cumulative November 3,275 30,000 98 3-mo. LIBOR + 75 bps (6) 0.75 3 On or after Series 2 (5) Floating Rate Non-Cumulative March 9,967 30,000 299 3-mo. LIBOR + 65 bps (6) 0.76 10 On or after Series 4 (5) Floating Rate Non-Cumulative November 7,010 30,000 210 3-mo. LIBOR + 75 bps (3) 1.02 9 On or after Series 5 (5) Floating Rate Non-Cumulative March 14,056 30,000 422 3-mo. LIBOR + 50 bps (3) 1.02 17 On or after Issuance costs and certain adjustments (348) Total 3,931,440 $ 24,510 (1) The Corporation may redeem series of preferred stock on or after the redemption date, in whole or in part, at its option, at the liquidation preference plus declared and unpaid dividends. Series B and Series L Preferred Stock do not have early redemption/call rights. (2) Ownership is held in the form of depositary shares, each representing a 1/1,000th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared. (3) Subject to 4.00% minimum rate per annum. (4) Ownership is held in the form of depositary shares, each representing a 1/25th interest in a share of preferred stock, paying a semi-annual cash dividend, if and when declared, until the first redemption date at which time, it adjusts to a quarterly cash dividend, if and when declared, thereafter. (5) Ownership is held in the form of depositary shares, each representing a 1/1,200th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared. (6) Subject to 3.00% minimum rate per annum. n/a = not applicable

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated OCI	The table below presents the changes in accumulated OCI after-tax for 2020, 2019 and 2018. (Dollars in millions) Debt Securities Debit Valuation Adjustments Derivatives Employee Foreign Total Balance, December 31, 2017 $ (1,206) $ (1,060) $ (831) $ (3,192) $ (793) $ (7,082) Accounting change related to certain tax effects (393) (220) (189) (707) 239 (1,270) Cumulative adjustment for hedge accounting change — — 57 — — 57 Net change (3,953) 749 (53) (405) (254) (3,916) Balance, December 31, 2018 $ (5,552) $ (531) $ (1,016) $ (4,304) $ (808) $ (12,211) Net change 5,875 (963) 616 136 (86) 5,578 Balance, December 31, 2019 $ 323 $ (1,494) $ (400) $ (4,168) $ (894) $ (6,633) Net change 4,799 (498) 826 (98) (52) 4,977 Balance, December 31, 2020 $ 5,122 $ (1,992) $ 426 $ (4,266) $ (946) $ (1,656)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	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 pre- and after-tax for 2020, 2019 and 2018. Pretax Tax After- Pretax Tax After- Pretax Tax effect After- (Dollars in millions) 2020 2019 2018 Debt securities: Net increase (decrease) in fair value $ 6,819 $ (1,712) $ 5,107 $ 8,020 $ (2,000) $ 6,020 $ (5,189) $ 1,329 $ (3,860) Net realized (gains) reclassified into earnings (1) (411) 103 (308) (193) 48 (145) (123) 30 (93) Net change 6,408 (1,609) 4,799 7,827 (1,952) 5,875 (5,312) 1,359 (3,953) Debit valuation adjustments: Net increase (decrease) in fair value (669) 156 (513) (1,276) 289 (987) 952 (224) 728 Net realized losses reclassified into earnings (1) 19 (4) 15 18 6 24 26 (5) 21 Net change (650) 152 (498) (1,258) 295 (963) 978 (229) 749 Derivatives: Net increase (decrease) in fair value 1,098 (268) 830 692 (156) 536 (232) 74 (158) Reclassifications into earnings: Net interest income 6 (1) 5 104 (26) 78 165 (40) 125 Compensation and benefits expense (12) 3 (9) 2 — 2 (27) 7 (20) Net realized (gains) losses reclassified into earnings (6) 2 (4) 106 (26) 80 138 (33) 105 Net change 1,092 (266) 826 798 (182) 616 (94) 41 (53) Employee benefit plans: Net increase (decrease) in fair value (381) 80 (301) 41 (21) 20 (703) 164 (539) Net actuarial losses and other reclassified into earnings (2) 261 (63) 198 150 (36) 114 171 (46) 125 Settlements, curtailments and other 5 — 5 3 (1) 2 11 (2) 9 Net change (115) 17 (98) 194 (58) 136 (521) 116 (405) Foreign currency: Net (decrease) in fair value (251) 199 (52) (13) (52) (65) (8) (195) (203) Net realized (gains) reclassified into earnings (1) (1) 1 — (110) 89 (21) (149) 98 (51) Net change (252) 200 (52) (123) 37 (86) (157) (97) (254) Total other comprehensive income (loss) $ 6,483 $ (1,506) $ 4,977 $ 7,438 $ (1,860) $ 5,578 $ (5,106) $ 1,190 $ (3,916) (1) Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income. (2) Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Calculation of earnings per common share and diluted earnings per common share	The calculation of EPS and diluted EPS for 2020, 2019 and 2018 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles . (In millions, except per share information) 2020 2019 2018 Earnings per common share Net income $ 17,894 $ 27,430 $ 28,147 Preferred stock dividends (1,421) (1,432) (1,451) Net income applicable to common shareholders $ 16,473 $ 25,998 $ 26,696 Average common shares issued and outstanding 8,753.2 9,390.5 10,096.5 Earnings per common share $ 1.88 $ 2.77 $ 2.64 Diluted earnings per common share Net income applicable to common shareholders $ 16,473 $ 25,998 $ 26,696 Average common shares issued and outstanding 8,753.2 9,390.5 10,096.5 Dilutive potential common shares (1) 43.7 52.4 140.4 Total diluted average common shares issued and outstanding 8,796.9 9,442.9 10,236.9 Diluted earnings per common share $ 1.87 $ 2.75 $ 2.61 (1) Includes incremental dilutive shares from RSUs, restricted stock and warrants.

Regulatory Requirements and R_2

Regulatory Requirements and Restrictions (Tables)	12 Months Ended
	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The following table presents capital ratios and related information in accordance with Basel 3 Standardized and Advanced approaches as measured at December 31, 2020 and 2019 for the Corporation and BANA. Regulatory Capital under Basel 3 Bank of America Corporation Bank of America, N.A. Standardized Approach (1, 2) Advanced Approaches (1) Regulatory Minimum (3) Standardized Approach (1, 2) Advanced Approaches (1) Regulatory Minimum (4) (Dollars in millions, except as noted) December 31, 2020 Risk-based capital metrics: Common equity tier 1 capital $ 176,660 $ 176,660 $ 164,593 $ 164,593 Tier 1 capital 200,096 200,096 164,593 164,593 Total capital (5) 237,936 227,685 181,370 170,922 Risk-weighted assets (in billions) 1,480 1,371 1,221 1,014 Common equity tier 1 capital ratio 11.9 % 12.9 % 9.5 % 13.5 % 16.2 % 7.0 % Tier 1 capital ratio 13.5 14.6 11.0 13.5 16.2 8.5 Total capital ratio 16.1 16.6 13.0 14.9 16.9 10.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (6) $ 2,719 $ 2,719 $ 2,143 $ 2,143 Tier 1 leverage ratio 7.4 % 7.4 % 4.0 7.7 % 7.7 % 5.0 Supplementary leverage exposure (in billions) (7) $ 2,786 $ 2,525 Supplementary leverage ratio 7.2 % 5.0 6.5 % 6.0 December 31, 2019 Risk-based capital metrics: Common equity tier 1 capital $ 166,760 $ 166,760 $ 154,626 $ 154,626 Tier 1 capital 188,492 188,492 154,626 154,626 Total capital (5) 221,230 213,098 166,567 158,665 Risk-weighted assets (in billions) 1,493 1,447 1,241 991 Common equity tier 1 capital ratio 11.2 % 11.5 % 9.5 % 12.5 % 15.6 % 7.0 % Tier 1 capital ratio 12.6 13.0 11.0 12.5 15.6 8.5 Total capital ratio 14.8 14.7 13.0 13.4 16.0 10.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (6) $ 2,374 $ 2,374 $ 1,780 $ 1,780 Tier 1 leverage ratio 7.9 % 7.9 % 4.0 8.7 % 8.7 % 5.0 Supplementary leverage exposure (in billions) $ 2,946 $ 2,177 Supplementary leverage ratio 6.4 % 5.0 7.1 % 6.0 (1) As of December 31, 2020, capital ratios are calculated using the regulatory capital rule that allows a five-year transition period related to the adoption of CECL. (2) Derivative exposure amounts are calculated using the standardized approach for measuring counterparty credit risk at December 31, 2020 and the current exposure method at December 31, 2019. (3) The capital conservation buffer and global systemically important bank surcharge were 2.5 percent at both December 31, 2020 and 2019. At December 31, 2020, the Corporation's stress capital buffer of 2.5 percent was applied in place of the capital conservation buffer under the Standardized approach. The countercyclical capital buffer for both periods was zero. The SLR minimum includes a leverage buffer of 2.0 percent. (4) Risk-based capital regulatory minimums at December 31, 2020 and 2019 are the minimum ratios under Basel 3, including a capital conservation buffer of 2.5 percent. The regulatory minimums for the leverage ratios as of both period ends are the percent required to be considered well capitalized under the PCA framework. (5) Total capital under the Advanced approaches differs from the Standardized approach due to differences in the amount permitted in Tier 2 capital related to the qualifying allowance for credit losses. (6) Reflects total average assets adjusted for certain Tier 1 capital deductions. (7) Supplementary leverage exposure for the Corporation at December 31, 2020 reflects the temporary exclusion of U.S. Treasury securities and deposits at Federal Reserve Banks.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The Pension and Postretirement Plans table summarizes the changes in the fair value of plan assets, changes in the projected benefit obligation (PBO), the funded status of both the accumulated benefit obligation (ABO) and the PBO, and the weighted-average assumptions used to determine benefit obligations for the pension plans and postretirement plans at December 31, 2020 and 2019. The estimate of the Corporation’s PBO associated with these plans considers various actuarial assumptions, including assumptions for mortality rates and discount rates. The discount rate assumptions are derived from a cash flow matching technique that utilizes rates that are based on Aa-rated corporate bonds with cash flows that match estimated benefit payments of each of the plans. The decreases in the weighted-average discount rates in 2020 and 2019 resulted in increases to the PBO of approximately $1.9 billion and $2.2 billion at December 31, 2020 and 2019. Significant gains and losses related to changes in the PBO for 2020 and 2019 primarily resulted from changes in the discount rate. Pension and Postretirement Plans (1) Qualified Non-U.S. Nonqualified and Other Postretirement (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Fair value, January 1 $ 20,275 $ 18,178 $ 2,696 $ 2,461 $ 2,666 $ 2,584 $ 199 $ 252 Actual return on plan assets 2,468 3,187 379 273 285 228 1 5 Company contributions — — 23 20 86 91 6 24 Plan participant contributions — — 1 1 — — 110 103 Settlements and curtailments — — (61) (42) — — — — Benefits paid (967) (1,090) (57) (108) (248) (237) (174) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 97 91 n/a n/a n/a n/a Fair value, December 31 $ 21,776 $ 20,275 $ 3,078 $ 2,696 $ 2,789 $ 2,666 $ 143 $ 199 Change in projected benefit obligation Projected benefit obligation, January 1 $ 15,361 $ 14,144 $ 2,887 $ 2,589 $ 2,919 $ 2,779 $ 989 $ 928 Service cost — — 20 17 1 1 5 5 Interest cost 500 593 49 65 90 113 32 38 Plan participant contributions — — 1 1 — — 110 103 Plan amendments — — 3 2 — — — — Settlements and curtailments — — (61) (42) — — — — Actuarial loss 1,533 1,714 396 288 243 263 43 99 Benefits paid (967) (1,090) (57) (108) (248) (237) (173) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 102 75 n/a n/a — 1 Projected benefit obligation, December 31 $ 16,427 $ 15,361 $ 3,340 $ 2,887 $ 3,005 $ 2,919 $ 1,007 $ 989 Amounts recognized on Consolidated Balance Sheet Other assets $ 5,349 $ 4,914 $ 428 $ 364 $ 812 $ 733 $ — $ — Accrued expenses and other liabilities — — (690) (555) (1,028) (986) (864) (790) Net amount recognized, December 31 $ 5,349 $ 4,914 $ (262) $ (191) $ (216) $ (253) $ (864) $ (790) Funded status, December 31 Accumulated benefit obligation $ 16,427 $ 15,361 $ 3,253 $ 2,841 $ 3,005 $ 2,919 n/a n/a Overfunded (unfunded) status of ABO 5,349 4,914 (175) (145) (216) (253) n/a n/a Provision for future salaries — — 87 46 — — n/a n/a Projected benefit obligation 16,427 15,361 3,340 2,887 3,005 2,919 $ 1,007 $ 989 Weighted-average assumptions, December 31 Discount rate 2.57 % 3.32 % 1.37 % 1.81 % 2.33 % 3.20 % 2.48 % 3.27 % Rate of compensation increase n/a n/a 4.11 4.10 4.00 4.00 n/a n/a Interest-crediting rate 5.02 % 5.06 % 1.58 1.53 4.49 4.52 n/a n/a (1) The measurement date for all of the above plans was December 31 of each year reported. n/a = not applicable
Schedule of Amounts Recognized in Balance Sheet	The Pension and Postretirement Plans table summarizes the changes in the fair value of plan assets, changes in the projected benefit obligation (PBO), the funded status of both the accumulated benefit obligation (ABO) and the PBO, and the weighted-average assumptions used to determine benefit obligations for the pension plans and postretirement plans at December 31, 2020 and 2019. The estimate of the Corporation’s PBO associated with these plans considers various actuarial assumptions, including assumptions for mortality rates and discount rates. The discount rate assumptions are derived from a cash flow matching technique that utilizes rates that are based on Aa-rated corporate bonds with cash flows that match estimated benefit payments of each of the plans. The decreases in the weighted-average discount rates in 2020 and 2019 resulted in increases to the PBO of approximately $1.9 billion and $2.2 billion at December 31, 2020 and 2019. Significant gains and losses related to changes in the PBO for 2020 and 2019 primarily resulted from changes in the discount rate. Pension and Postretirement Plans (1) Qualified Non-U.S. Nonqualified and Other Postretirement (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 Fair value, January 1 $ 20,275 $ 18,178 $ 2,696 $ 2,461 $ 2,666 $ 2,584 $ 199 $ 252 Actual return on plan assets 2,468 3,187 379 273 285 228 1 5 Company contributions — — 23 20 86 91 6 24 Plan participant contributions — — 1 1 — — 110 103 Settlements and curtailments — — (61) (42) — — — — Benefits paid (967) (1,090) (57) (108) (248) (237) (174) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 97 91 n/a n/a n/a n/a Fair value, December 31 $ 21,776 $ 20,275 $ 3,078 $ 2,696 $ 2,789 $ 2,666 $ 143 $ 199 Change in projected benefit obligation Projected benefit obligation, January 1 $ 15,361 $ 14,144 $ 2,887 $ 2,589 $ 2,919 $ 2,779 $ 989 $ 928 Service cost — — 20 17 1 1 5 5 Interest cost 500 593 49 65 90 113 32 38 Plan participant contributions — — 1 1 — — 110 103 Plan amendments — — 3 2 — — — — Settlements and curtailments — — (61) (42) — — — — Actuarial loss 1,533 1,714 396 288 243 263 43 99 Benefits paid (967) (1,090) (57) (108) (248) (237) (173) (185) Federal subsidy on benefits paid n/a n/a n/a n/a n/a n/a 1 — Foreign currency exchange rate changes n/a n/a 102 75 n/a n/a — 1 Projected benefit obligation, December 31 $ 16,427 $ 15,361 $ 3,340 $ 2,887 $ 3,005 $ 2,919 $ 1,007 $ 989 Amounts recognized on Consolidated Balance Sheet Other assets $ 5,349 $ 4,914 $ 428 $ 364 $ 812 $ 733 $ — $ — Accrued expenses and other liabilities — — (690) (555) (1,028) (986) (864) (790) Net amount recognized, December 31 $ 5,349 $ 4,914 $ (262) $ (191) $ (216) $ (253) $ (864) $ (790) Funded status, December 31 Accumulated benefit obligation $ 16,427 $ 15,361 $ 3,253 $ 2,841 $ 3,005 $ 2,919 n/a n/a Overfunded (unfunded) status of ABO 5,349 4,914 (175) (145) (216) (253) n/a n/a Provision for future salaries — — 87 46 — — n/a n/a Projected benefit obligation 16,427 15,361 3,340 2,887 3,005 2,919 $ 1,007 $ 989 Weighted-average assumptions, December 31 Discount rate 2.57 % 3.32 % 1.37 % 1.81 % 2.33 % 3.20 % 2.48 % 3.27 % Rate of compensation increase n/a n/a 4.11 4.10 4.00 4.00 n/a n/a Interest-crediting rate 5.02 % 5.06 % 1.58 1.53 4.49 4.52 n/a n/a (1) The measurement date for all of the above plans was December 31 of each year reported. n/a = not applicable
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	Pension Plans with ABO and PBO in excess of plan assets as of December 31, 2020 and 2019 are presented in the table below. For these plans, funding strategies vary due to legal requirements and local practices. Plans with ABO and PBO in Excess of Plan Assets Non-U.S. Nonqualified (Dollars in millions) 2020 2019 2020 2019 PBO $ 900 $ 744 $ 1,028 $ 988 ABO 841 720 1,028 988 Fair value of plan assets 211 191 1 1
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets	Pension Plans with ABO and PBO in excess of plan assets as of December 31, 2020 and 2019 are presented in the table below. For these plans, funding strategies vary due to legal requirements and local practices. Plans with ABO and PBO in Excess of Plan Assets Non-U.S. Nonqualified (Dollars in millions) 2020 2019 2020 2019 PBO $ 900 $ 744 $ 1,028 $ 988 ABO 841 720 1,028 988 Fair value of plan assets 211 191 1 1
Schedule of Net Benefit Costs	Components of Net Periodic Benefit Cost Qualified Pension Plan Non-U.S. Pension Plans (Dollars in millions) 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost (income) Service cost $ — $ — $ — $ 20 $ 17 $ 19 Interest cost 500 593 563 49 65 65 Expected return on plan assets (1,154) (1,088) (1,136) (66) (99) (126) Amortization of net actuarial loss 173 135 147 9 6 10 Other — — — 8 4 12 Net periodic benefit cost (income) $ (481) $ (360) $ (426) $ 20 $ (7) $ (20) Weighted-average assumptions used to determine net cost for years ended December 31 Discount rate 3.32 % 4.32 % 3.68 % 1.81 % 2.60 % 2.39 % Expected return on plan assets 6.00 6.00 6.00 2.57 4.13 4.37 Rate of compensation increase n/a n/a n/a 4.10 4.49 4.31 Nonqualified and Postretirement Health (Dollars in millions) 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost (income) Service cost $ 1 $ 1 $ 1 $ 5 $ 5 $ 6 Interest cost 90 113 105 32 38 36 Expected return on plan assets (71) (95) (84) (4) (5) (6) Amortization of net actuarial loss (gain) 50 34 43 29 (24) (27) Other — — — (2) (2) (3) Net periodic benefit cost (income) $ 70 $ 53 $ 65 $ 60 $ 12 $ 6 Weighted-average assumptions used to determine net cost for years ended December 31 Discount rate 3.20 % 4.26 % 3.58 % 3.27 % 4.25 % 3.58 % Expected return on plan assets 2.77 3.73 3.19 2.00 2.00 2.00 Rate of compensation increase 4.00 4.00 4.00 n/a n/a n/a n/a = not applicable
Schedule of Pretax Amounts Included in Accumulated OCI	Pretax Amounts included in Accumulated OCI and OCI Qualified Non-U.S. Nonqualified Postretirement Total (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Net actuarial loss (gain) $ 3,912 $ 3,865 $ 628 $ 559 $ 987 $ 1,008 $ 66 $ 48 $ 5,593 $ 5,480 Prior service cost (credits) — — 18 18 — — (4) (6) 14 12 Amounts recognized in accumulated OCI $ 3,912 $ 3,865 $ 646 $ 577 $ 987 $ 1,008 $ 62 $ 42 $ 5,607 $ 5,492 Current year actuarial loss (gain) $ 219 $ (385) $ 79 $ 110 $ 29 $ 130 $ 47 $ 99 $ 374 $ (46) Amortization of actuarial gain (loss) and prior service cost (173) (135) (12) (7) (50) (34) (27) 26 (262) (150) Current year prior service cost (credit) — — 3 2 — — — — 3 2 Amounts recognized in OCI $ 46 $ (520) $ 70 $ 105 $ (21) $ 96 $ 20 $ 125 $ 115 $ (194)
Schedule of Pretax Amounts Recognized in OCI	Pretax Amounts included in Accumulated OCI and OCI Qualified Non-U.S. Nonqualified Postretirement Total (Dollars in millions) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Net actuarial loss (gain) $ 3,912 $ 3,865 $ 628 $ 559 $ 987 $ 1,008 $ 66 $ 48 $ 5,593 $ 5,480 Prior service cost (credits) — — 18 18 — — (4) (6) 14 12 Amounts recognized in accumulated OCI $ 3,912 $ 3,865 $ 646 $ 577 $ 987 $ 1,008 $ 62 $ 42 $ 5,607 $ 5,492 Current year actuarial loss (gain) $ 219 $ (385) $ 79 $ 110 $ 29 $ 130 $ 47 $ 99 $ 374 $ (46) Amortization of actuarial gain (loss) and prior service cost (173) (135) (12) (7) (50) (34) (27) 26 (262) (150) Current year prior service cost (credit) — — 3 2 — — — — 3 2 Amounts recognized in OCI $ 46 $ (520) $ 70 $ 105 $ (21) $ 96 $ 20 $ 125 $ 115 $ (194)
Schedule of Allocation of Plan Assets	The target allocations for 2021 by asset category for the Qualified Pension Plan, Non-U.S. Pension Plans, and Nonqualified and Other Pension Plans are presented in the following table. Equity securities for the Qualified Pension Plan include common stock of the Corporation in the amounts of $274 million (1.26 percent of total plan assets) and $315 million (1.55 percent of total plan assets) at December 31, 2020 and 2019. 2021 Target Allocation Percentage Asset Category Qualified Non-U.S. Nonqualified Equity securities 15 - 50% 0 - 25% 0 - 5% Debt securities 45 - 80% 40 - 70% 95 - 100% Real estate 0 - 10% 0 - 15% 0 - 5% Other 0 - 5% 10 - 40% 0 - 5%
Schedule of Changes in Fair Value of Plan Assets	Combined plan investment assets measured at fair value by level and in total at December 31, 2020 and 2019 are summarized in the Fair Value Measurements table. Fair Value Measurements Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (Dollars in millions) December 31, 2020 December 31, 2019 Cash and short-term investments Money market and interest-bearing cash $ 1,380 $ — $ — $ 1,380 $ 1,426 $ — $ — $ 1,426 Cash and cash equivalent commingled/mutual funds — 383 — 383 — 250 — 250 Fixed income U.S. government and agency securities 4,590 1,238 7 5,835 4,403 890 8 5,301 Corporate debt securities — 5,021 — 5,021 — 3,676 — 3,676 Asset-backed securities — 1,967 — 1,967 — 2,684 — 2,684 Non-U.S. debt securities 1,021 1,122 — 2,143 748 1,015 — 1,763 Fixed income commingled/mutual funds 1,224 1,319 — 2,543 804 1,439 — 2,243 Equity Common and preferred equity securities 4,438 — — 4,438 4,655 — — 4,655 Equity commingled/mutual funds 134 1,542 — 1,676 147 1,355 — 1,502 Public real estate investment trusts 73 — — 73 91 — — 91 Real estate Real estate commingled/mutual funds — 20 943 963 — 18 927 945 Limited partnerships — 184 83 267 — 173 90 263 Other investments (1) 5 401 691 1,097 11 390 636 1,037 Total plan investment assets, at fair value $ 12,865 $ 13,197 $ 1,724 $ 27,786 $ 12,285 $ 11,890 $ 1,661 $ 25,836 (1) Other investments include commodity and balanced funds of $246 million and $233 million, insurance annuity contracts of $664 million and $614 million and other various investments of $187 million and $190 million at December 31, 2020 and 2019. The Level 3 Fair Value Measurements table presents a reconciliation of all plan investment assets measured at fair value using significant unobservable inputs (Level 3) during 2020, 2019 and 2018. Level 3 Fair Value Measurements Balance Actual Return on Purchases, Sales and Settlements Balance (Dollars in millions) 2020 Fixed income U.S. government and agency securities $ 8 $ — $ (1) $ 7 Real estate Real estate commingled/mutual funds 927 (4) 20 943 Limited partnerships 90 2 (9) 83 Other investments 636 6 49 691 Total $ 1,661 $ 4 $ 59 $ 1,724 2019 Fixed income U.S. government and agency securities $ 9 $ — $ (1) $ 8 Real estate Private real estate 5 — (5) — Real estate commingled/mutual funds 885 33 9 927 Limited partnerships 82 — 8 90 Other investments 588 6 42 636 Total $ 1,569 $ 39 $ 53 $ 1,661 2018 Fixed income U.S. government and agency securities $ 9 $ — $ — $ 9 Real estate Private real estate 93 (7) (81) 5 Real estate commingled/mutual funds 831 52 2 885 Limited partnerships 85 (12) 9 82 Other investments 74 — 514 588 Total $ 1,092 $ 33 $ 444 $ 1,569
Schedule of Expected Benefit Payments	Benefit payments projected to be made from the Qualified Pension Plan, Non-U.S. Pension Plans, Nonqualified and Other Pension Plans, and Postretirement Health and Life Plans are presented in the table below. Projected Benefit Payments (Dollars in millions) Qualified Pension Plan (1) Non-U.S. Pension Plans (2) Nonqualified and Other Pension Plans (2) Postretirement Health and Life Plans (3) 2021 $ 856 $ 127 $ 244 $ 79 2022 943 134 245 76 2023 939 143 229 74 2024 943 135 224 70 2025 934 140 221 67 2026 - 2030 4,474 675 977 290 (1) Benefit payments expected to be made from the plan’s assets. (2) Benefit payments expected to be made from a combination of the plans’ and the Corporation’s assets. (3) Benefit payments (net of retiree contributions) expected to be made from a combination of the plans’ and the Corporation’s assets.

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Restricted Stock and Restricted Stock Units The total fair value of restricted stock and restricted stock units vested in 2020, 2019 and 2018 was $2.3 billion, $2.6 billion and $2.3 billion, respectively. The table below presents the status at December 31, 2020 of the share-settled restricted stock and restricted stock units and changes during 2020. Stock-settled Restricted Stock and Restricted Stock Units Shares/Units Weighted- Outstanding at January 1, 2020 157,909,315 $ 27.93 Granted 83,604,782 33.01 Vested (68,578,284) 27.38 Canceled (4,982,584) 30.88 Outstanding at December 31, 2020 167,953,229 30.60

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense for 2020, 2019 and 2018 are presented in the table below. Income Tax Expense (Dollars in millions) 2020 2019 2018 Current income tax expense U.S. federal $ 1,092 $ 1,136 $ 816 U.S. state and local 1,076 901 1,377 Non-U.S. 670 852 1,203 Total current expense 2,838 2,889 3,396 Deferred income tax expense U.S. federal (799) 2,001 2,579 U.S. state and local (233) 223 240 Non-U.S. (705) 211 222 Total deferred expense (1,737) 2,435 3,041 Total income tax expense $ 1,101 $ 5,324 $ 6,437
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the expected U.S. federal income tax expense, calculated by applying the federal statutory tax rate, to the Corporation’s actual income tax expense, and the effective tax rates for 2020, 2019 and 2018 are presented in the table below. Reconciliation of Income Tax Expense Amount Percent Amount Percent Amount Percent (Dollars in millions) 2020 2019 2018 Expected U.S. federal income tax expense $ 3,989 21.0 % $ 6,878 21.0 % $ 7,263 21.0 % Increase (decrease) in taxes resulting from: State tax expense, net of federal benefit 728 3.8 1,283 3.9 1,367 4.0 Affordable housing/energy/other credits (2,869) (15.1) (2,365) (7.2) (1,888) (5.5) Tax law changes (699) (3.7) — — — — Tax-exempt income, including dividends (346) (1.8) (433) (1.3) (413) (1.2) Share-based compensation (129) (0.7) (225) (0.7) (257) (0.7) Changes in prior-period UTBs, including interest (41) (0.2) (613) (1.9) 144 0.4 Nondeductible expenses 324 1.7 290 0.9 302 0.9 Rate differential on non-U.S. earnings 218 1.1 504 1.5 98 0.3 Other (74) (0.3) 5 0.1 (179) (0.6) Total income tax expense (benefit) $ 1,101 5.8 % $ 5,324 16.3 % $ 6,437 18.6 %
Reconciliation of Change in Unrecognized Tax Benefits	The reconciliation of the beginning unrecognized tax benefits (UTB) balance to the ending balance is presented in the following table. Reconciliation of the Change in Unrecognized Tax Benefits (Dollars in millions) 2020 2019 2018 Balance, January 1 $ 1,175 $ 2,197 $ 1,773 Increases related to positions taken during the current year 238 238 395 Increases related to positions taken during prior years (1) 99 401 406 Decreases related to positions taken during prior years (1) (172) (1,102) (371) Settlements — (541) (6) Expiration of statute of limitations — (18) — Balance, December 31 $ 1,340 $ 1,175 $ 2,197 (1) The sum of the positions taken during prior years differs from the $(41) million, $(613) million and $144 million in the Reconciliation of Income Tax Expense table due to temporary items, state items and jurisdictional offsets, as well as the inclusion of interest in the Reconciliation of Income Tax Expense table.
Summary of Income Tax Examinations	The following table summarizes the status of examinations by major jurisdiction for the Corporation and various subsidiaries at December 31, 2020. Tax Examination Status Years under Examination (1) Status at December 31 2020 United States 2017-2020 Field Examination California 2012-2017 Field Examination New York 2016-2018 Field Examination United Kingdom (2) 2018 Field Examination (1) All tax years subsequent to the years shown remain subject to examination. (2) Field examination for tax year 2019 to begin in 2021.
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Corporation’s net deferred tax assets and liabilities at December 31, 2020 and 2019 are presented in the following table. Deferred Tax Assets and Liabilities December 31 (Dollars in millions) 2020 2019 Deferred tax assets Net operating loss carryforwards $ 7,717 $ 7,417 Allowance for credit losses 4,701 2,354 Security, loan and debt valuations 2,571 1,860 Lease liability 2,400 2,321 Employee compensation and retirement benefits 1,582 1,622 Accrued expenses 1,481 1,719 Credit carryforwards 484 183 Other 1,412 1,203 Gross deferred tax assets 22,348 18,679 Valuation allowance (2,346) (1,989) Total deferred tax assets, net of valuation 20,002 16,690 Deferred tax liabilities Equipment lease financing 3,101 2,933 Right-to-use asset 2,296 2,246 Fixed assets 1,957 1,505 ESG-related tax credit investments 1,930 1,577 Available-for-sale securities 1,701 100 Other 1,570 1,885 Gross deferred tax liabilities 12,555 10,246 Net deferred tax assets $ 7,447 $ 6,444
Schedule of Operating Loss Carryforwards	The table below summarizes the deferred tax assets and related valuation allowances recognized for the net operating loss (NOL) and tax credit carryforwards at December 31, 2020. Net Operating Loss and Tax Credit Carryforward Deferred Tax Assets (Dollars in millions) Deferred Valuation Net First Year Net operating losses - U.S. $ 36 $ — $ 36 After 2028 Net operating losses - U.K. (1) 5,896 — 5,896 None Net operating losses - other non-U.S. 506 (441) 65 Various Net operating losses - U.S. states (2) 1,279 (579) 700 Various Foreign tax credits 484 (484) — After 2028 (1) Represents U.K. broker-dealer net operating losses that may be carried forward indefinitely. (2) The net operating losses and related valuation allowances for U.S. states before considering the benefit of federal deductions were $1.6 billion and $733 million.
Summary of Tax Credit Carryforwards	The table below summarizes the deferred tax assets and related valuation allowances recognized for the net operating loss (NOL) and tax credit carryforwards at December 31, 2020. Net Operating Loss and Tax Credit Carryforward Deferred Tax Assets (Dollars in millions) Deferred Valuation Net First Year Net operating losses - U.S. $ 36 $ — $ 36 After 2028 Net operating losses - U.K. (1) 5,896 — 5,896 None Net operating losses - other non-U.S. 506 (441) 65 Various Net operating losses - U.S. states (2) 1,279 (579) 700 Various Foreign tax credits 484 (484) — After 2028 (1) Represents U.K. broker-dealer net operating losses that may be carried forward indefinitely. (2) The net operating losses and related valuation allowances for U.S. states before considering the benefit of federal deductions were $1.6 billion and $733 million.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020 and 2019, including financial instruments that the Corporation accounts for under the fair value option, are summarized in the following tables. December 31, 2020 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Time deposits placed and other short-term investments $ 1,649 $ — $ — $ — $ 1,649 Federal funds sold and securities borrowed or purchased under agreements to resell — 108,856 — — 108,856 Trading account assets: U.S. Treasury and agency securities 45,219 3,051 — — 48,270 Corporate securities, trading loans and other — 22,817 1,359 — 24,176 Equity securities 36,372 31,372 227 — 67,971 Non-U.S. sovereign debt 5,753 20,884 354 — 26,991 Mortgage trading loans, MBS and ABS: U.S. government-sponsored agency guaranteed (2) — 21,566 75 — 21,641 Mortgage trading loans, ABS and other MBS — 8,440 1,365 — 9,805 Total trading account assets (3) 87,344 108,130 3,380 — 198,854 Derivative assets 15,624 416,175 2,751 (387,371) 47,179 AFS debt securities: U.S. Treasury and agency securities 115,266 1,114 — — 116,380 Mortgage-backed securities: Agency — 61,849 — — 61,849 Agency-collateralized mortgage obligations — 5,260 — — 5,260 Non-agency residential — 631 378 — 1,009 Commercial — 16,491 — — 16,491 Non-U.S. securities — 13,999 18 — 14,017 Other taxable securities — 2,640 71 — 2,711 Tax-exempt securities — 16,598 176 — 16,774 Total AFS debt securities 115,266 118,582 643 — 234,491 Other debt securities carried at fair value: U.S. Treasury and agency securities 93 — — — 93 Non-agency residential MBS — 506 267 — 773 Non-U.S. and other securities 2,619 8,625 — — 11,244 Total other debt securities carried at fair value 2,712 9,131 267 — 12,110 Loans and leases — 5,964 717 — 6,681 Loans held-for-sale — 1,349 236 — 1,585 Other assets (4) 9,898 3,850 1,970 — 15,718 Total assets (5) $ 232,493 $ 772,037 $ 9,964 $ (387,371) $ 627,123 Liabilities Interest-bearing deposits in U.S. offices $ — $ 481 $ — $ — $ 481 Federal funds purchased and securities loaned or sold under agreements to repurchase — 135,391 — — 135,391 Trading account liabilities: U.S. Treasury and agency securities 9,425 139 — — 9,564 Equity securities 38,189 4,235 — — 42,424 Non-U.S. sovereign debt 5,853 8,043 — — 13,896 Corporate securities and other — 5,420 16 — 5,436 Total trading account liabilities 53,467 17,837 16 — 71,320 Derivative liabilities 14,907 412,881 6,219 (388,481) 45,526 Short-term borrowings — 5,874 — — 5,874 Accrued expenses and other liabilities 12,297 4,014 — — 16,311 Long-term debt — 31,036 1,164 — 32,200 Total liabilities (5) $ 80,671 $ 607,514 $ 7,399 $ (388,481) $ 307,103 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $22.2 billion of GSE obligations. (3) Includes securities with a fair value of $16.8 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. Trading account assets also includes precious metal inventories of $576 million that are accounted for at the lower of cost or net realizable value, which is the current selling price less any costs to sell. (4) Includes MSRs of $1.0 billion which are classified as Level 3 assets. (5) Total recurring Level 3 assets were 0.35 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.29 percent of total consolidated liabilities. December 31, 2019 Fair Value Measurements (Dollars in millions) Level 1 Level 2 Level 3 Netting Adjustments (1) Assets/Liabilities at Fair Value Assets Time deposits placed and other short-term investments $ 1,000 $ — $ — $ — $ 1,000 Federal funds sold and securities borrowed or purchased under agreements to resell — 50,364 — — 50,364 Trading account assets: U.S. Treasury and agency securities 49,517 4,157 — — 53,674 Corporate securities, trading loans and other — 25,226 1,507 — 26,733 Equity securities 53,597 32,619 239 — 86,455 Non-U.S. sovereign debt 3,965 23,854 482 — 28,301 Mortgage trading loans, MBS and ABS: U.S. government-sponsored agency guaranteed (2) — 24,324 — — 24,324 Mortgage trading loans, ABS and other MBS — 8,786 1,553 — 10,339 Total trading account assets (3) 107,079 118,966 3,781 — 229,826 Derivative assets 14,079 328,442 2,226 (304,262) 40,485 AFS debt securities: U.S. Treasury and agency securities 67,332 1,196 — — 68,528 Mortgage-backed securities: Agency — 122,528 — — 122,528 Agency-collateralized mortgage obligations — 4,641 — — 4,641 Non-agency residential — 653 424 — 1,077 Commercial — 15,021 — — 15,021 Non-U.S. securities — 11,989 2 — 11,991 Other taxable securities — 3,876 65 — 3,941 Tax-exempt securities — 17,804 108 — 17,912 Total AFS debt securities 67,332 177,708 599 — 245,639 Other debt securities carried at fair value: U.S. Treasury and agency securities 3 — — — 3 Agency MBS — 3,003 — — 3,003 Non-agency residential MBS — 1,035 299 — 1,334 Non-U.S. and other securities 400 6,088 — — 6,488 Total other debt securities carried at fair value 403 10,126 299 — 10,828 Loans and leases — 7,642 693 — 8,335 Loans held-for-sale — 3,334 375 — 3,709 Other assets (4) 11,782 1,376 2,360 — 15,518 Total assets (5) $ 201,675 $ 697,958 $ 10,333 $ (304,262) $ 605,704 Liabilities Interest-bearing deposits in U.S. offices $ — $ 508 $ — $ — $ 508 Federal funds purchased and securities loaned or sold under agreements to repurchase — 16,008 — — 16,008 Trading account liabilities: U.S. Treasury and agency securities 13,140 282 — — 13,422 Equity securities 38,148 4,144 2 — 42,294 Non-U.S. sovereign debt 10,751 11,310 — — 22,061 Corporate securities and other — 5,478 15 — 5,493 Total trading account liabilities 62,039 21,214 17 — 83,270 Derivative liabilities 11,904 320,479 4,764 (298,918) 38,229 Short-term borrowings — 3,941 — — 3,941 Accrued expenses and other liabilities 13,927 1,507 — — 15,434 Long-term debt — 33,826 1,149 — 34,975 Total liabilities (5) $ 87,870 $ 397,483 $ 5,930 $ (298,918) $ 192,365 (1) Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (2) Includes $26.7 billion of GSE obligations. (3) Includes securities with a fair value of $14.7 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) Includes MSRs of $1.5 billion which are classified as Level 3 assets. (5) Total recurring Level 3 assets were 0.42 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.27 percent of total consolidated liabilities.
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 2020, 2019 and 2018, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Transfers into Level 3 occur primarily due to decreased price observability, and transfers out of Level 3 occur primarily due to increased price observability. Transfers occur on a regular basis for 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. Level 3 – Fair Value Measurements (1) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) (Dollars in millions) Purchases Sales Issuances Settlements Year Ended December 31, 2020 Trading account assets: Corporate securities, trading loans and other $ 1,507 $ (138) $ (1) $ 430 $ (242) $ 10 $ (282) $ 639 $ (564) $ 1,359 $ (102) Equity securities 239 (43) — 78 (53) — (3) 58 (49) 227 (31) Non-U.S. sovereign debt 482 45 (46) 76 (61) — (39) 150 (253) 354 47 Mortgage trading loans, ABS and other MBS 1,553 (120) (3) 577 (746) 11 (96) 757 (493) 1,440 (92) Total trading account assets 3,781 (256) (50) 1,161 (1,102) 21 (420) 1,604 (1,359) 3,380 (178) Net derivative assets (liabilities) (4) (2,538) (235) — 120 (646) — (112) (235) 178 (3,468) (953) AFS debt securities: Non-agency residential MBS 424 (2) 3 23 (54) — (44) 158 (130) 378 (2) Non-U.S. securities 2 1 — — (1) — (1) 17 — 18 1 Other taxable securities 65 — — 9 (4) — — 1 — 71 — Tax-exempt securities 108 (21) 3 — — — (169) 265 (10) 176 (20) Total AFS debt securities 599 (22) 6 32 (59) — (214) 441 (140) 643 (21) Other debt securities carried at fair value – Non-agency residential MBS 299 26 — — (180) — (24) 190 (44) 267 3 Loans and leases (5,6) 693 (4) — 145 (76) 22 (161) 98 — 717 9 Loans held-for-sale (5,6) 375 26 (28) — (489) 691 (119) 93 (313) 236 (5) Other assets (6,7) 2,360 (288) 3 178 (4) 224 (506) 5 (2) 1,970 (374) Trading account liabilities – Equity securities (2) 1 — — — — — — 1 — — Trading account liabilities – Corporate securities and other (15) 8 — (7) (3) — 1 — — (16) — Long-term debt (5) (1,149) (46) 2 (104) — (47) 218 (52) 14 (1,164) (5) Year Ended December 31, 2019 Trading account assets: Corporate securities, trading loans and other $ 1,558 $ 105 $ — $ 534 $ (390) $ 18 $ (578) $ 699 $ (439) $ 1,507 $ 29 Equity securities 276 (12) — 38 (87) — (9) 79 (46) 239 (18) Non-U.S. sovereign debt 465 46 (12) 1 — — (51) 39 (6) 482 47 Mortgage trading loans, ABS and other MBS 1,635 99 (2) 662 (899) — (175) 738 (505) 1,553 26 Total trading account assets 3,934 238 (14) 1,235 (1,376) 18 (813) 1,555 (996) 3,781 84 Net derivative assets (liabilities) (4,8) (935) (37) — 298 (837) — (97) 147 (1,077) (2,538) 228 AFS debt securities: Non-agency residential MBS 597 13 64 — (73) — (40) 206 (343) 424 — Non-U.S. securities 2 — — — — — — — — 2 — Other taxable securities 7 2 — — — — (5) 61 — 65 — Tax-exempt securities — — — — — — — 108 — 108 — Total AFS debt securities 606 15 64 — (73) — (45) 375 (343) 599 — Other debt securities carried at fair value – Non-agency residential MBS 172 36 — — — — (17) 155 (47) 299 38 Loans and leases (5,6) 338 — — 230 (35) 217 (57) — — 693 (1) Loans held-for-sale (5,6) 542 48 (6) 12 (71) 36 (245) 59 — 375 22 Other assets (6,7) 2,932 (81) 19 — (10) 179 (683) 5 (1) 2,360 (267) Trading account liabilities – Equity securities — (2) — — — — — — — (2) (2) Trading account liabilities – Corporate securities and other (18) 8 — (1) (3) (1) — — — (15) — Long-term debt (5,8) (817) (59) (64) — — (40) 180 (350) 1 (1,149) (55) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains (losses) reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; AFS debt securities - predominantly other income; Other debt securities carried at fair value - other income; Loans and leases - market making and similar activities and other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized gains (losses) of $(41) million and $3 million related to financial instruments still held at December 31, 2020 and 2019. (4) Net derivative assets (liabilities) include derivative assets of $2.8 billion and $2.2 billion and derivative liabilities of $6.2 billion and $4.8 billion at December 31, 2020 and 2019. (5) Amounts represent instruments that are accounted for under the fair value option. (6) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (7) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. (8) Transfers into long-term debt include a $1.4 billion transfer in of Level 3 derivative assets to reflect the Corporation's change to present bifurcated embedded derivatives with their respective host instruments. Level 3 – Fair Value Measurements (1) (Dollars in millions) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (Losses) in OCI (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) Purchases Sales Issuances Settlements Year Ended December 31, 2018 Trading account assets: Corporate securities, trading loans and other $ 1,864 $ (32) $ (1) $ 436 $ (403) $ 5 $ (568) $ 804 $ (547) $ 1,558 $ (117) Equity securities 235 (17) — 44 (11) — (4) 78 (49) 276 (22) Non-U.S. sovereign debt 556 47 (44) 13 (57) — (30) 117 (137) 465 48 Mortgage trading loans, ABS and other MBS 1,498 148 3 585 (910) — (158) 705 (236) 1,635 97 Total trading account assets 4,153 146 (42) 1,078 (1,381) 5 (760) 1,704 (969) 3,934 6 Net derivative assets (liabilities) (4) (1,714) 106 — 531 (1,179) — 778 39 504 (935) (116) AFS debt securities: Non-agency residential MBS — 27 (33) — (71) — (25) 774 (75) 597 — Non-U.S. securities 25 — (1) — (10) — (15) 3 — 2 — Other taxable securities 509 1 (3) — (23) — (11) 60 (526) 7 — Tax-exempt securities 469 — — — — — (1) 1 (469) — — Total AFS debt securities (5) 1,003 28 (37) — (104) — (52) 838 (1,070) 606 — Other debt securities carried at fair value - Non-agency residential MBS — (18) — — (8) — (34) 365 (133) 172 (18) Loans and leases (6,7) 571 (16) — — (134) — (83) — — 338 (9) Loans held-for-sale (6) 690 44 (26) 71 — 1 (201) 23 (60) 542 31 Other assets (5,7,8) 2,425 414 (38) 2 (69) 96 (792) 929 (35) 2,932 149 Trading account liabilities – Corporate securities and other (24) 11 — 9 (12) (2) — — — (18) (7) Accrued expenses and other liabilities (6) (8) — — — — — 8 — — — — Long-term debt (6) (1,863) 103 4 9 — (141) 486 (262) 847 (817) 95 (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains/losses reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; Other debt securities carried at fair value - other income; Loans and leases - predominantly other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - primarily market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized losses of $105 million related to financial instruments still held at December 31, 2018. (4) Net derivative assets (liabilities) include derivative assets of $3.5 billion and derivative liabilities of $4.4 billion. (5) Transfers out of AFS debt securities and into other assets primarily relate to the reclassifcation of certain securities. (6) Amounts represent instruments that are accounted for under the fair value option. (7) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (8) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time.
Fair Value, Liabilities 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 2020, 2019 and 2018, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Transfers into Level 3 occur primarily due to decreased price observability, and transfers out of Level 3 occur primarily due to increased price observability. Transfers occur on a regular basis for 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. Level 3 – Fair Value Measurements (1) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) (Dollars in millions) Purchases Sales Issuances Settlements Year Ended December 31, 2020 Trading account assets: Corporate securities, trading loans and other $ 1,507 $ (138) $ (1) $ 430 $ (242) $ 10 $ (282) $ 639 $ (564) $ 1,359 $ (102) Equity securities 239 (43) — 78 (53) — (3) 58 (49) 227 (31) Non-U.S. sovereign debt 482 45 (46) 76 (61) — (39) 150 (253) 354 47 Mortgage trading loans, ABS and other MBS 1,553 (120) (3) 577 (746) 11 (96) 757 (493) 1,440 (92) Total trading account assets 3,781 (256) (50) 1,161 (1,102) 21 (420) 1,604 (1,359) 3,380 (178) Net derivative assets (liabilities) (4) (2,538) (235) — 120 (646) — (112) (235) 178 (3,468) (953) AFS debt securities: Non-agency residential MBS 424 (2) 3 23 (54) — (44) 158 (130) 378 (2) Non-U.S. securities 2 1 — — (1) — (1) 17 — 18 1 Other taxable securities 65 — — 9 (4) — — 1 — 71 — Tax-exempt securities 108 (21) 3 — — — (169) 265 (10) 176 (20) Total AFS debt securities 599 (22) 6 32 (59) — (214) 441 (140) 643 (21) Other debt securities carried at fair value – Non-agency residential MBS 299 26 — — (180) — (24) 190 (44) 267 3 Loans and leases (5,6) 693 (4) — 145 (76) 22 (161) 98 — 717 9 Loans held-for-sale (5,6) 375 26 (28) — (489) 691 (119) 93 (313) 236 (5) Other assets (6,7) 2,360 (288) 3 178 (4) 224 (506) 5 (2) 1,970 (374) Trading account liabilities – Equity securities (2) 1 — — — — — — 1 — — Trading account liabilities – Corporate securities and other (15) 8 — (7) (3) — 1 — — (16) — Long-term debt (5) (1,149) (46) 2 (104) — (47) 218 (52) 14 (1,164) (5) Year Ended December 31, 2019 Trading account assets: Corporate securities, trading loans and other $ 1,558 $ 105 $ — $ 534 $ (390) $ 18 $ (578) $ 699 $ (439) $ 1,507 $ 29 Equity securities 276 (12) — 38 (87) — (9) 79 (46) 239 (18) Non-U.S. sovereign debt 465 46 (12) 1 — — (51) 39 (6) 482 47 Mortgage trading loans, ABS and other MBS 1,635 99 (2) 662 (899) — (175) 738 (505) 1,553 26 Total trading account assets 3,934 238 (14) 1,235 (1,376) 18 (813) 1,555 (996) 3,781 84 Net derivative assets (liabilities) (4,8) (935) (37) — 298 (837) — (97) 147 (1,077) (2,538) 228 AFS debt securities: Non-agency residential MBS 597 13 64 — (73) — (40) 206 (343) 424 — Non-U.S. securities 2 — — — — — — — — 2 — Other taxable securities 7 2 — — — — (5) 61 — 65 — Tax-exempt securities — — — — — — — 108 — 108 — Total AFS debt securities 606 15 64 — (73) — (45) 375 (343) 599 — Other debt securities carried at fair value – Non-agency residential MBS 172 36 — — — — (17) 155 (47) 299 38 Loans and leases (5,6) 338 — — 230 (35) 217 (57) — — 693 (1) Loans held-for-sale (5,6) 542 48 (6) 12 (71) 36 (245) 59 — 375 22 Other assets (6,7) 2,932 (81) 19 — (10) 179 (683) 5 (1) 2,360 (267) Trading account liabilities – Equity securities — (2) — — — — — — — (2) (2) Trading account liabilities – Corporate securities and other (18) 8 — (1) (3) (1) — — — (15) — Long-term debt (5,8) (817) (59) (64) — — (40) 180 (350) 1 (1,149) (55) (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains (losses) reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; AFS debt securities - predominantly other income; Other debt securities carried at fair value - other income; Loans and leases - market making and similar activities and other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized gains (losses) of $(41) million and $3 million related to financial instruments still held at December 31, 2020 and 2019. (4) Net derivative assets (liabilities) include derivative assets of $2.8 billion and $2.2 billion and derivative liabilities of $6.2 billion and $4.8 billion at December 31, 2020 and 2019. (5) Amounts represent instruments that are accounted for under the fair value option. (6) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (7) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time. (8) Transfers into long-term debt include a $1.4 billion transfer in of Level 3 derivative assets to reflect the Corporation's change to present bifurcated embedded derivatives with their respective host instruments. Level 3 – Fair Value Measurements (1) (Dollars in millions) Balance Total Realized/Unrealized Gains (Losses) in Net Income (2) Gains (Losses) in OCI (3) Gross Gross Gross Balance Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2) Purchases Sales Issuances Settlements Year Ended December 31, 2018 Trading account assets: Corporate securities, trading loans and other $ 1,864 $ (32) $ (1) $ 436 $ (403) $ 5 $ (568) $ 804 $ (547) $ 1,558 $ (117) Equity securities 235 (17) — 44 (11) — (4) 78 (49) 276 (22) Non-U.S. sovereign debt 556 47 (44) 13 (57) — (30) 117 (137) 465 48 Mortgage trading loans, ABS and other MBS 1,498 148 3 585 (910) — (158) 705 (236) 1,635 97 Total trading account assets 4,153 146 (42) 1,078 (1,381) 5 (760) 1,704 (969) 3,934 6 Net derivative assets (liabilities) (4) (1,714) 106 — 531 (1,179) — 778 39 504 (935) (116) AFS debt securities: Non-agency residential MBS — 27 (33) — (71) — (25) 774 (75) 597 — Non-U.S. securities 25 — (1) — (10) — (15) 3 — 2 — Other taxable securities 509 1 (3) — (23) — (11) 60 (526) 7 — Tax-exempt securities 469 — — — — — (1) 1 (469) — — Total AFS debt securities (5) 1,003 28 (37) — (104) — (52) 838 (1,070) 606 — Other debt securities carried at fair value - Non-agency residential MBS — (18) — — (8) — (34) 365 (133) 172 (18) Loans and leases (6,7) 571 (16) — — (134) — (83) — — 338 (9) Loans held-for-sale (6) 690 44 (26) 71 — 1 (201) 23 (60) 542 31 Other assets (5,7,8) 2,425 414 (38) 2 (69) 96 (792) 929 (35) 2,932 149 Trading account liabilities – Corporate securities and other (24) 11 — 9 (12) (2) — — — (18) (7) Accrued expenses and other liabilities (6) (8) — — — — — 8 — — — — Long-term debt (6) (1,863) 103 4 9 — (141) 486 (262) 847 (817) 95 (1) Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3. (2) Includes gains/losses reported in earnings in the following income statement line items: Trading account assets/liabilities - predominantly market making and similar activities; Net derivative assets (liabilities) - market making and similar activities and other income; Other debt securities carried at fair value - other income; Loans and leases - predominantly other income; Loans held-for-sale - other income; Other assets - primarily other income related to MSRs; Long-term debt - primarily market making and similar activities. (3) Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized losses of $105 million related to financial instruments still held at December 31, 2018. (4) Net derivative assets (liabilities) include derivative assets of $3.5 billion and derivative liabilities of $4.4 billion. (5) Transfers out of AFS debt securities and into other assets primarily relate to the reclassifcation of certain securities. (6) Amounts represent instruments that are accounted for under the fair value option. (7) Issuances represent loan originations and MSRs recognized following securitizations or whole-loan sales. (8) Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time.
Fair Value Measurement Inputs and Valuation Techniques	The following tables present information about significant unobservable inputs related to the Corporation’s material categories of Level 3 financial assets and liabilities at December 31, 2020 and 2019. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2020 (Dollars in millions) Inputs Financial Instrument Fair Valuation Significant Unobservable Ranges of Weighted Average (1) Loans and Securities (2) Instruments backed by residential real estate assets $ 1,543 Discounted cash flow, Market comparables Yield (3)% to 25% 6 % Trading account assets – Mortgage trading loans, ABS and other MBS 467 Prepayment speed 1% to 56% CPR 20% CPR Loans and leases 431 Default rate 0% to 3% CDR 1% CDR AFS debt securities – Non-agency residential 378 Price $0 to $168 $110 Other debt securities carried at fair value – Non-agency residential 267 Loss severity 0% to 47% 18 % Instruments backed by commercial real estate assets $ 407 Discounted cash Yield 0% to 25% 4 % Trading account assets – Corporate securities, trading loans and other 262 Price $0 to $100 $52 Trading account assets – Mortgage trading loans, ABS and other MBS 43 AFS debt securities, primarily other taxable securities 89 Loans held-for-sale 13 Commercial loans, debt securities and other $ 3,066 Discounted cash flow, Market comparables Yield 0% to 26% 9 % Trading account assets – Corporate securities, trading loans and other 1,097 Prepayment speed 10% to 20% 14 % Trading account assets – Non-U.S. sovereign debt 354 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans, ABS and other MBS 930 Loss severity 35% to 40% 38 % AFS debt securities – Tax-exempt securities 176 Price $0 to $142 $66 Loans and leases 286 Long-dated equity volatilities 77% n/a Loans held-for-sale 223 Other assets, primarily auction rate securities $ 937 Discounted cash flow, Market comparables Price $10 to $97 $91 Discount rate 8 % n/a MSRs $ 1,033 Discounted cash Weighted-average life, fixed rate (5) 0 to 13 years 4 years Weighted-average life, variable rate (5) 0 to 10 years 3 years Option-adjusted spread, fixed rate 7% to 14% 9 % Option-adjusted spread, variable rate 9% to 15% 12 % Structured liabilities Long-term debt $ (1,164) Discounted cash flow, Market comparables, Industry standard derivative pricing (3) Yield 0% to 11% 9 % Equity correlation 2% to 100% 64 % Long-dated equity volatilities 7% to 64% 32 % Price $0 to $124 $86 Natural gas forward price $1/MMBtu to $4/MMBtu $3 /MMBtu Net derivative assets (liabilities) Credit derivatives $ (112) Discounted cash flow, Stochastic recovery correlation model Yield 5% n/a Upfront points 0 to 100 points 75 points Prepayment speed 15% to 100% CPR 22% CPR Default rate 2% CDR n/a Credit correlation 21% to 64% 57 % Price $0 to $122 $69 Equity derivatives $ (1,904) Industry standard derivative pricing (3) Equity correlation 2% to 100% 64 % Long-dated equity volatilities 7% to 64% 32 % Commodity derivatives $ (1,426) Discounted cash flow, Industry standard derivative pricing (3) Natural gas forward price $1/MMBtu to $4/MMBtu $3 /MMBtu Correlation 39% to 85% 73 % Volatilities 23% to 70% 39 % Interest rate derivatives $ (26) Industry standard derivative pricing (4) Correlation (IR/IR) 15% to 96% 34 % Correlation (FX/IR) 0% to 46% 3 % Long-dated inflation rates (7)% to 84% 14 % Long-dated inflation volatilities 0% to 1% 1 % Interest rate volatilities 0% to 2% 1 % Total net derivative assets (liabilities) $ (3,468) (1) For loans and securities, structured liabilities and net derivative assets (liabilities), the weighted average is calculated based upon the absolute fair value of the instruments. (2) The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 156: Trading account assets – Corporate securities, trading loans and other of $1.4 billion, Trading account assets – Non-U.S. sovereign debt of $354 million, Trading account assets – Mortgage trading loans, ABS and other MBS of $1.4 billion, AFS debt securities of $643 million, Other debt securities carried at fair value - Non-agency residential of $267 million, Other assets, including MSRs, of $2.0 billion, Loans and leases of $717 million and LHFS of $236 million. (3) Includes models such as Monte Carlo simulation and Black-Scholes. (4) Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. (5) The weighted-average life is a product of changes in market rates of interest, prepayment rates and other model and cash flow assumptions. 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, 2019 (Dollars in millions) Inputs Financial Instrument Fair Valuation Significant Unobservable Ranges of Weighted Average (1) Loans and Securities (2) Instruments backed by residential real estate assets $ 1,407 Discounted cash flow, Market comparables Yield 0% to 25% 6 % Trading account assets – Mortgage trading loans, ABS and other MBS 332 Prepayment speed 1% to 27% CPR 17% CPR Loans and leases 281 Default rate 0% to 3% CDR 1% CDR Loans held-for-sale 4 Loss severity 0% to 47% 14 % AFS debt securities, primarily non-agency residential 491 Price $0 to $160 $94 Other debt securities carried at fair value - Non-agency residential 299 Instruments backed by commercial real estate assets $ 303 Discounted cash flow Yield 0% to 30% 14 % Trading account assets – Corporate securities, trading loans and other 201 Price $0 to $100 $55 Trading account assets – Mortgage trading loans, ABS and other MBS 85 Loans held-for-sale 17 Commercial loans, debt securities and other $ 3,798 Discounted cash flow, Market comparables Yield 1% to 20% 6 % Trading account assets – Corporate securities, trading loans and other 1,306 Prepayment speed 10% to 20% 13 % Trading account assets – Non-U.S. sovereign debt 482 Default rate 3% to 4% 4 % Trading account assets – Mortgage trading loans, ABS and other MBS 1,136 Loss severity 35% to 40% 38 % AFS debt securities – Tax-exempt securities 108 Price $0 to $142 $72 Loans and leases 412 Long-dated equity volatilities 35% n/a Loans held-for-sale 354 Other assets, primarily auction rate securities $ 815 Discounted cash flow, Market comparables Price $10 to $100 $96 MSRs $ 1,545 Discounted cash flow Weighted-average life, fixed rate (5) 0 to 14 years 5 years Weighted-average life, variable rate (5) 0 to 9 years 3 years Option-adjusted spread, fixed rate 7% to 14% 9 % Option-adjusted spread, variable rate 9% to 15% 11 % Structured liabilities Long-term debt $ (1,149) Discounted cash flow, Market comparables, Industry standard derivative pricing (3) Yield 2% to 6% 5 % Equity correlation 9% to 100% 63 % Long-dated equity volatilities 4% to 101% 32 % Price $0 to $116 $74 Natural gas forward price $1/MMBtu to $5/MMBtu $3/MMBtu Net derivative assets (liabilities) Credit derivatives $ 13 Discounted cash flow, Stochastic recovery correlation model Yield 5% n/a Upfront points 0 to 100 points 63 points Prepayment speed 15% to 100% CPR 22% CPR Default rate 1% to 4% CDR 2% CDR Loss severity 35% n/a Price $0 to $104 $73 Equity derivatives $ (1,081) Industry standard derivative pricing (3) Equity correlation 9% to 100% 63 % Long-dated equity volatilities 4% to 101% 32 % Commodity derivatives $ (1,357) Discounted cash flow, Industry standard derivative pricing (3) Natural gas forward price $1/MMBtu to $5/MMBtu $3/MMBtu Correlation 30% to 69% 68 % Volatilities 14% to 54% 27 % Interest rate derivatives $ (113) Industry standard derivative pricing (4) Correlation (IR/IR) 15% to 94% 52 % Correlation (FX/IR) 0% to 46% 2 % Long-dated inflation rates G (23)% to 56% 16 % Long-dated inflation volatilities 0% to 1% 1 % Total net derivative assets (liabilities) $ (2,538) (1) For loans and securities, structured liabilities and net derivative assets (liabilities), the weighted average is calculated based upon the absolute fair value of the instruments. (2) The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 157: Trading account assets – Corporate securities, trading loans and other of $1.5 billion, Trading account assets – Non-U.S. sovereign debt of $482 million, Trading account assets – Mortgage trading loans, ABS and other MBS of $1.6 billion, AFS debt securities of $599 million, Other debt securities carried at fair value - Non-agency residential of $299 million, Other assets, including MSRs, of $2.4 billion, Loans and leases of $693 million and LHFS of $375 million. (3) Includes models such as Monte Carlo simulation and Black-Scholes. (4) Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. (5) The weighted-average life is a product of changes in market rates of interest, prepayment rates and other model and cash flow assumptions. CPR = Constant Prepayment Rate CDR = Constant Default Rate MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange n/a = not applicable
Fair Value Measurements, Nonrecurring	The amounts below represent assets still held as of the reporting date for which a nonrecurring fair value adjustment was recorded during 2020, 2019 and 2018. Assets Measured at Fair Value on a Nonrecurring Basis December 31, 2020 December 31, 2019 (Dollars in millions) Level 2 Level 3 Level 2 Level 3 Assets Loans held-for-sale $ 1,020 $ 792 $ 53 $ 102 Loans and leases (1) — 301 — 257 Foreclosed properties (2, 3) — 17 — 17 Other assets 323 576 178 646 Gains (Losses) 2020 2019 2018 Assets Loans held-for-sale $ (79) $ (14) $ (18) Loans and leases (1) (73) (81) (202) Foreclosed properties (6) (9) (24) Other assets (98) (2,145) (64) (1) Includes $30 million, $36 million and $83 million of losses on loans that were written down to a collateral value of zero during 2020, 2019 and 2018, respectively. (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 recorded during the first 90 days after transfer of a loan to foreclosed properties. (3) Excludes $119 million and $260 million of properties acquired upon foreclosure of certain government-guaranteed loans (principally FHA-insured loans) at December 31, 2020 and 2019.
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques	The table below presents information about significant unobservable inputs utilized in the Corporation's nonrecurring Level 3 fair value measurements during 2020 and 2019. Quantitative Information about Nonrecurring Level 3 Fair Value Measurements Inputs Financial Instrument Fair Value Valuation Significant Unobservable Ranges of Weighted Average (1) (Dollars in millions) 2020 Loans held-for-sale $ 792 Discounted cash flow Price $8 to $99 $95 Loans and leases (2) 301 Market comparables OREO discount 13% to 59% 24 % Costs to sell 8% to 26% 9 % Other assets (3) 576 Discounted cash flow Revenue attrition 2% to 19% 7 % Discount rate 11% to 14% 12 % 2019 Loans held-for-sale $ 102 Discounted cash flow Price $85 to $97 $88 Loans and leases (2) 257 Market comparables OREO discount 13% to 59% 24 % Costs to sell 8% to 26% 9 % Other assets (4) 640 Discounted cash flow Customer attrition 0% to 19% 5 % Cost to service 11% to 19% 15 % (1) The weighted average is calculated based upon the fair value of the loans. (2) Represents residential mortgages where the loan has been written down to the fair value of the underlying collateral. (3) The fair value of the intangible asset related to the merchant contracts received from the merchant services joint venture was measured using a discounted cash flow method for which the two key assumptions were the revenue attrition rate and the discount rate. For more information, see Note 7 – Goodwill and Intangible Assets.

Fair Value Option (Tables)

Fair Value Option (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value Option Elections	Fair Value Option Elections The following tables provide information about the fair value carrying amount and the contractual principal outstanding of assets and liabilities accounted for under the fair value option at December 31, 2020 and 2019, and 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 2020, 2019 and 2018. Fair Value Option Elections December 31, 2020 December 31, 2019 (Dollars in millions) Fair Value Carrying Amount Contractual Principal Outstanding Fair Value Carrying Amount Less Unpaid Principal Fair Value Contractual Principal Outstanding Fair Value Carrying Federal funds sold and securities borrowed or purchased under agreements to resell $ 108,856 $ 108,811 $ 45 $ 50,364 $ 50,318 $ 46 Loans reported as trading account assets (1) 7,967 17,372 (9,405) 6,989 14,703 (7,714) Trading inventory – other 22,790 n/a n/a 19,574 n/a n/a Consumer and commercial loans 6,681 6,778 (97) 8,335 8,372 (37) Loans held-for-sale (1) 1,585 2,521 (936) 3,709 4,879 (1,170) Other assets 200 n/a n/a 4 n/a n/a Long-term deposits 481 448 33 508 496 12 Federal funds purchased and securities loaned or sold under agreements to repurchase 135,391 135,390 1 16,008 16,029 (21) Short-term borrowings 5,874 5,178 696 3,941 3,930 11 Unfunded loan commitments 99 n/a n/a 90 n/a n/a Long-term debt 32,200 33,470 (1,270) 34,975 35,730 (755) (1) A significant portion of the loans reported as trading account assets and LHFS are distressed loans that were purchased at a deep discount to par, and the remainder are loans with a fair value near contractual principal outstanding. n/a = not applicable Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option Market making and similar activities Other Total (Dollars in millions) 2020 Loans reported as trading account assets $ 107 $ — $ 107 Trading inventory – other (1) 3,216 — 3,216 Consumer and commercial loans 22 (3) 19 Loans held-for-sale (2) — 103 103 Short-term borrowings (170) — (170) Unfunded loan commitments — (65) (65) Long-term debt (3) (2,175) (53) (2,228) Other (4) 35 (22) 13 Total $ 1,035 $ (40) $ 995 2019 Loans reported as trading account assets $ 203 $ — $ 203 Trading inventory – other (1) 5,795 — 5,795 Consumer and commercial loans 92 12 104 Loans held-for-sale (2) — 98 98 Short-term borrowings (24) — (24) Unfunded loan commitments — 79 79 Long-term debt (3) (1,098) (78) (1,176) Other (4) 9 (27) (18) Total $ 4,977 $ 84 $ 5,061 2018 Loans reported as trading account assets $ 8 $ — $ 8 Trading inventory – other (1) 1,750 — 1,750 Consumer and commercial loans (422) (53) (475) Loans held-for-sale (2) 1 24 25 Short-term borrowings 2 — 2 Unfunded loan commitments — (49) (49) Long-term debt (3) 2,157 (93) 2,064 Other (4) 6 18 24 Total $ 3,502 $ (153) $ 3,349 (1) The gains in market making and similar activities are primarily offset by 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 net gains (losses) in market making and similar activities relate to the embedded derivatives in structured liabilities and are typically offset by (losses) gains on derivatives and securities that hedge these liabilities. For the cumulative impact of changes in the Corporation’s own credit spreads and the amount recognized in accumulated OCI, see Note 14 – Accumulated Other Comprehensive Income (Loss) . For more information on how the Corporation’s own credit spread is determined, see Note 20 – Fair Value Measurements. (4) Includes gains (losses) on federal funds sold and securities borrowed or purchased under agreements to resell, long-term deposits and federal funds purchased and securities loaned or sold under agreements to repurchase. Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option (Dollars in millions) 2020 2019 2018 Loans reported as trading account assets $ (172) $ 43 $ 6 Consumer and commercial loans (19) 15 (56) Loans held-for-sale (105) 57 (4) Unfunded loan commitments (65) 79 (94)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020 and 2019 are presented in the following table. Fair Value of Financial Instruments Fair Value Carrying Value Level 2 Level 3 Total (Dollars in millions) December 31, 2020 Financial assets Loans $ 887,289 $ 49,372 $ 877,682 $ 927,054 Loans held-for-sale 9,243 7,864 1,379 9,243 Financial liabilities Deposits (1) 1,795,480 1,795,545 — 1,795,545 Long-term debt 262,934 271,315 1,164 272,479 Commercial unfunded lending commitments (2) 1,977 99 5,159 5,258 December 31, 2019 Financial assets Loans $ 950,093 $ 63,633 $ 914,597 $ 978,230 Loans held-for-sale 9,158 8,439 719 9,158 Financial liabilities Deposits (1) 1,434,803 1,434,809 — 1,434,809 Long-term debt 240,856 247,376 1,149 248,525 Commercial unfunded lending commitments (2) 903 90 4,777 4,867 (1) Includes demand deposits of $799.0 billion and $545.5 billion with no stated maturities at December 31, 2020 and 2019. (2) The carrying value of commercial unfunded lending commitments is included in accrued expenses and other liabilities on the Consolidated Balance Sheet. The Corporation does not estimate the fair value 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 12 – Commitments and Contingencies .

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents net income (loss) and the components thereto (with net interest income on an FTE basis for the business segments, All Other and the total Corporation) for 2020, 2019 and 2018, and total assets at December 31, 2020 and 2019 for each business segment, as well as All Other. Results of Business Segments and All Other At and for the year ended December 31 Total Corporation (1) Consumer Banking (Dollars in millions) 2020 2019 2018 2020 2019 2018 Net interest income $ 43,859 $ 49,486 $ 48,772 $ 24,698 $ 28,158 $ 27,025 Noninterest income 42,168 42,353 42,858 8,564 10,429 10,593 Total revenue, net of interest expense 86,027 91,839 91,630 33,262 38,587 37,618 Provision for credit losses 11,320 3,590 3,282 5,765 3,772 3,664 Noninterest expense 55,213 54,900 53,154 18,878 17,646 17,672 Income before income taxes 19,494 33,349 35,194 8,619 17,169 16,282 Income tax expense 1,600 5,919 7,047 2,112 4,207 4,150 Net income $ 17,894 $ 27,430 $ 28,147 $ 6,507 $ 12,962 $ 12,132 Period-end total assets $ 2,819,627 $ 2,434,079 $ 988,580 $ 804,093 Global Wealth & Investment Management Global Banking 2020 2019 2018 2020 2019 2018 Net interest income $ 5,468 $ 6,504 $ 6,265 $ 9,013 $ 10,675 $ 10,993 Noninterest income 13,116 13,034 13,188 9,974 9,808 9,008 Total revenue, net of interest expense 18,584 19,538 19,453 18,987 20,483 20,001 Provision for credit losses 357 82 86 4,897 414 8 Noninterest expense 14,154 13,825 14,015 9,337 9,011 8,745 Income before income taxes 4,073 5,631 5,352 4,753 11,058 11,248 Income tax expense 998 1,380 1,364 1,283 2,985 2,923 Net income $ 3,075 $ 4,251 $ 3,988 $ 3,470 $ 8,073 $ 8,325 Period-end total assets $ 369,736 $ 299,770 $ 580,561 $ 464,032 Global Markets All Other 2020 2019 2018 2020 2019 2018 Net interest income $ 4,646 $ 3,915 $ 3,857 $ 34 $ 234 $ 632 Noninterest income 14,120 11,699 12,326 (3,606) (2,617) (2,257) Total revenue, net of interest expense 18,766 15,614 16,183 (3,572) (2,383) (1,625) Provision for credit losses 251 (9) — 50 (669) (476) Noninterest expense 11,422 10,728 10,835 1,422 3,690 1,887 Income (loss) before income taxes 7,093 4,895 5,348 (5,044) (5,404) (3,036) Income tax expense (benefit) 1,844 1,395 1,390 (4,637) (4,048) (2,780) Net income (loss) $ 5,249 $ 3,500 $ 3,958 $ (407) $ (1,356) $ (256) Period-end total assets $ 616,609 $ 641,809 $ 264,141 $ 224,375 (1) There were no material intersegment revenues. The table below presents noninterest income and the associated components for 2020, 2019 and 2018 for each business segment, All Other and the total Corporation. For more information, see Note 2 – Net Interest Income and Noninterest Income. Noninterest Income by Business Segment and All Other Total Corporation Consumer Banking Global Wealth & (Dollars in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Fees and commissions: Card income Interchange fees $ 3,954 $ 3,834 $ 3,866 $ 3,027 $ 3,174 $ 3,196 $ 36 $ 59 $ 81 Other card income 1,702 1,963 1,958 1,646 1,910 1,907 42 42 46 Total card income 5,656 5,797 5,824 4,673 5,084 5,103 78 101 127 Service charges Deposit-related fees 5,991 6,588 6,667 3,417 4,218 4,300 67 68 73 Lending-related fees 1,150 1,086 1,100 — — — — — — Total service charges 7,141 7,674 7,767 3,417 4,218 4,300 67 68 73 Investment and brokerage services Asset management fees 10,708 10,241 10,189 146 144 147 10,578 10,130 10,042 Brokerage fees 3,866 3,661 3,971 127 149 172 1,692 1,740 1,917 Total investment and brokerage services 14,574 13,902 14,160 273 293 319 12,270 11,870 11,959 Investment banking fees Underwriting income 4,698 2,998 2,722 — — — 391 401 335 Syndication fees 861 1,184 1,347 — — — — — — Financial advisory services 1,621 1,460 1,258 — — — — — 2 Total investment banking fees 7,180 5,642 5,327 — — — 391 401 337 Total fees and commissions 34,551 33,015 33,078 8,363 9,595 9,722 12,806 12,440 12,496 Market making and similar activities 8,355 9,034 9,008 2 6 8 63 113 112 Other income (loss) (738) 304 772 199 828 863 247 481 580 Total noninterest income $ 42,168 $ 42,353 $ 42,858 $ 8,564 $ 10,429 $ 10,593 $ 13,116 $ 13,034 $ 13,188 Global Banking Global Markets All Other (1) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Fees and commissions: Card income Interchange fees $ 499 $ 519 $ 503 $ 391 $ 81 $ 86 $ 1 $ 1 $ — Other card income 14 13 8 — (1) (2) — (1) (1) Total card income 513 532 511 391 80 84 1 — (1) Service charges Deposit-related fees 2,298 2,121 2,111 177 156 161 32 25 22 Lending-related fees 940 894 916 210 192 184 — — — Total service charges 3,238 3,015 3,027 387 348 345 32 25 22 Investment and brokerage services Asset management fees — — — — — — (16) (33) — Brokerage fees 74 34 94 1,973 1,738 1,780 — — 8 Total investment and brokerage services 74 34 94 1,973 1,738 1,780 (16) (33) 8 Investment banking fees Underwriting income 2,070 1,227 1,090 2,449 1,555 1,495 (212) (185) (198) Syndication fees 482 574 648 379 610 698 — — 1 Financial advisory services 1,458 1,336 1,153 163 123 103 — 1 — Total investment banking fees 4,010 3,137 2,891 2,991 2,288 2,296 (212) (184) (197) Total fees and commissions 7,835 6,718 6,523 5,742 4,454 4,505 (195) (192) (168) Market making and similar activities 103 235 260 8,471 7,065 7,260 (284) 1,615 1,368 Other income (loss) 2,036 2,855 2,225 (93) 180 561 (3,127) (4,040) (3,457) Total noninterest income $ 9,974 $ 9,808 $ 9,008 $ 14,120 $ 11,699 $ 12,326 $ (3,606) $ (2,617) $ (2,257) (1) All Other includes eliminations of intercompany transactions. Business Segment Reconciliations (Dollars in millions) 2020 2019 2018 Segments’ total revenue, net of interest expense $ 89,599 $ 94,222 $ 93,255 Adjustments (1) : ALM activities 375 241 (325) Liquidating businesses, eliminations and other (3,947) (2,624) (1,300) FTE basis adjustment (499) (595) (610) Consolidated revenue, net of interest expense $ 85,528 $ 91,244 $ 91,020 Segments’ total net income 18,301 28,786 28,403 Adjustments, net-of-tax (1) : ALM activities 279 202 (222) Liquidating businesses, eliminations and other (686) (1,558) (34) Consolidated net income $ 17,894 $ 27,430 $ 28,147 December 31 2020 2019 Segments’ total assets $ 2,555,486 $ 2,209,704 Adjustments (1) : ALM activities, including securities portfolio 1,176,071 721,806 Elimination of segment asset allocations to match liabilities (977,685) (565,378) Other 65,755 67,947 Consolidated total assets $ 2,819,627 $ 2,434,079 (1) Adjustments include consolidated income, expense and asset amounts not specifically allocated to individual business segments.

Parent Company Information (Tab

Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Statement of Income	The following tables present the Parent Company-only financial information. Condensed Statement of Income (Dollars in millions) 2020 2019 2018 Income Dividends from subsidiaries: Bank holding companies and related subsidiaries $ 10,352 $ 27,820 $ 28,575 Nonbank companies and related subsidiaries — — 91 Interest from subsidiaries 8,825 9,502 8,425 Other income (loss) (138) 74 (1,025) Total income 19,039 37,396 36,066 Expense Interest on borrowed funds from related subsidiaries 136 451 235 Other interest expense 4,119 5,899 6,425 Noninterest expense 1,651 1,641 1,600 Total expense 5,906 7,991 8,260 Income before income taxes and equity in undistributed earnings of subsidiaries 13,133 29,405 27,806 Income tax expense (benefit) 649 341 (281) Income before equity in undistributed earnings of subsidiaries 12,484 29,064 28,087 Equity in undistributed earnings (losses) of subsidiaries: Bank holding companies and related subsidiaries 5,372 (1,717) 306 Nonbank companies and related subsidiaries 38 83 (246) Total equity in undistributed earnings of subsidiaries 5,410 (1,634) 60 Net income $ 17,894 $ 27,430 $ 28,147
Balance Sheet	Condensed Balance Sheet December 31 (Dollars in millions) 2020 2019 Assets Cash held at bank subsidiaries (1) $ 5,893 $ 5,695 Securities 701 656 Receivables from subsidiaries: Bank holding companies and related subsidiaries 206,566 173,301 Banks and related subsidiaries 213 51 Nonbank companies and related subsidiaries 410 391 Investments in subsidiaries: Bank holding companies and related subsidiaries 305,818 297,465 Nonbank companies and related subsidiaries 3,715 3,663 Other assets 9,850 9,438 Total assets $ 533,166 $ 490,660 Liabilities and shareholders’ equity Accrued expenses and other liabilities $ 15,965 $ 13,381 Payables to subsidiaries: Banks and related subsidiaries 129 458 Nonbank companies and related subsidiaries 11,067 12,102 Long-term debt 233,081 199,909 Total liabilities 260,242 225,850 Shareholders’ equity 272,924 264,810 Total liabilities and shareholders’ equity $ 533,166 $ 490,660 (1) Balance includes third-party cash held of $7 million and $4 million at December 31, 2020 and 2019.
Statement of Cash Flows	Condensed Statement of Cash Flows (Dollars in millions) 2020 2019 2018 Operating activities Net income $ 17,894 $ 27,430 $ 28,147 Reconciliation of net income to net cash provided by (used in) operating activities: Equity in undistributed (earnings) losses of subsidiaries (5,410) 1,634 (60) Other operating activities, net 14,303 16,973 (3,706) Net cash provided by operating activities 26,787 46,037 24,381 Investing activities Net sales (purchases) of securities (4) (17) 51 Net payments to subsidiaries (33,111) (19,121) (2,262) Other investing activities, net (7) 7 48 Net cash used in investing activities (33,122) (19,131) (2,163) Financing activities Net increase (decrease) in other advances (422) (1,625) 3,867 Proceeds from issuance of long-term debt 43,766 29,315 30,708 Retirement of long-term debt (23,168) (21,039) (29,413) Proceeds from issuance of preferred stock 2,181 3,643 4,515 Redemption of preferred stock (1,072) (2,568) (4,512) Common stock repurchased (7,025) (28,144) (20,094) Cash dividends paid (7,727) (5,934) (6,895) Net cash provided by (used in) financing activities 6,533 (26,352) (21,824) Net increase in cash held at bank subsidiaries 198 554 394 Cash held at bank subsidiaries at January 1 5,695 5,141 4,747 Cash held at bank subsidiaries at December 31 $ 5,893 $ 5,695 $ 5,141

Performance by Geographical A_2

Performance by Geographical Area (Tables)	12 Months Ended
	Dec. 31, 2020
Segments, Geographical Areas [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Certain asset, liability, income and expense amounts have been allocated to arrive at total assets, total revenue, net of interest expense, income before income taxes and net income by geographic area as presented below. (Dollars in millions) Total Assets at Year End (1) Total Revenue, Net of Interest Expense (2) Income Before Income Taxes Net Income U.S. (3) 2020 $ 2,490,247 $ 75,576 $ 18,247 $ 16,692 2019 2,122,734 81,236 30,699 25,937 2018 80,777 31,904 26,407 Asia 2020 99,283 4,232 1,051 788 2019 102,440 3,491 765 570 2018 3,507 865 520 Europe, Middle East and Africa 2020 202,701 4,491 (596) 264 2019 178,889 5,310 921 672 2018 5,632 1,543 1,126 Latin America and the Caribbean 2020 27,396 1,229 293 150 2019 30,016 1,207 369 251 2018 1,104 272 94 Total Non-U.S. 2020 329,380 9,952 748 1,202 2019 311,345 10,008 2,055 1,493 2018 10,243 2,680 1,740 Total Consolidated 2020 $ 2,819,627 $ 85,528 $ 18,995 $ 17,894 2019 2,434,079 91,244 32,754 27,430 2018 91,020 34,584 28,147 (1) Total assets include long-lived assets, which are primarily located in the U.S. (2) There were no material intercompany revenues between geographic regions for any of the periods presented. (3) Substantially reflects the U.S.

Summary of Significant Accoun_3

Summary of Significant Accounting Principles - New Accounting Standards (Details) - USD ($) $ in Millions	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment for hedge accounting change		$ 272,924	$ 264,810	$ 265,325	$ 267,146
Allowance for credit losses		20,680	10,229	10,398
Retained earnings		$ (164,088)	(156,319)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment for hedge accounting change			(2,406)	$ 165
Allowance for credit losses	$ 3,300		3,300
Loans and leases receivable, percentage increase in allowance	32.00%
Retained earnings			$ 2,400

Summary of Significant Accoun_4

Summary of Significant Accounting Principles - Significant Accounting Principles: Collateral (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Securities held as collateral, fair value	$ 812.4	$ 693
Securities received as collateral, amount re-pledged and sold	$ 758.5	$ 593.8

Summary of Significant Accoun_5

Summary of Significant Accounting Principles - Significant Accounting Policies: Loans and Leases (Details)	12 Months Ended
	Dec. 31, 2020portfolioSegment
Accounting Policies [Abstract]
Number of portfolio segments	3

Summary of Significant Accoun_6

Summary of Significant Accounting Principles - Significant Accounting Principles: Nonperforming Loans and Leases, Charge-offs and Delinquencies, TDRs (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Threshold period past due for nonperforming status of financing receivables	90 days	90 days
Consumer Portfolio Segment | Personal Property Secured Loans
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	120 days
Consumer Portfolio Segment | Personal Property Secured Loans | Chapter Seven Bankruptcy
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	60 days
Consumer Portfolio Segment | Credit Card and Other Unsecured Consumer Loans
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	180 days
Consumer Portfolio Segment | Credit Card and Other Unsecured Consumer Loans | Death, Bankruptcy or Fraud
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	60 days
Consumer real estate
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	180 days
Consumer real estate | Death, Bankruptcy or Fraud
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	60 days
Consumer real estate | Residential mortgage
Financing Receivable, Past Due [Line Items]
Threshold period past due for nonperforming status of financing receivables	90 days
Consumer real estate | Junior Lien Home Equity Financing Receivable
Financing Receivable, Past Due [Line Items]
Threshold period past due for nonperforming status of financing receivables	90 days
Commercial
Financing Receivable, Past Due [Line Items]
Threshold period past due for nonperforming status of financing receivables	90 days
Credit card and other consumer | Credit Card and Other Unsecured Consumer Loans
Financing Receivable, Past Due [Line Items]
Threshold period past due for write-off of financing receivable	180 days
Threshold period past due for write-off of renegotiated financing receivable placed on a fixed payment plan	120 days

Summary of Significant Accoun_7

Summary of Significant Accounting Principles - Significant Accounting Principles: Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Expected credit losses	$ 0
Building
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful lives	40 years
Furniture and Equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful lives	12 years

Summary of Significant Accoun_8

Summary of Significant Accounting Principles - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2020
Minimum
Disaggregation of Revenue [Line Items]
Fee percentage of assets under management	0.50%
Maximum
Disaggregation of Revenue [Line Items]
Fee percentage of assets under management	1.50%

Summary of Significant Accoun_9

Summary of Significant Accounting Principles - Paycheck Protection Program (Details) $ in Millions	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Number of loans funded under Paycheck Protection Program, CARES Act | loan	332,000
Loans and leases	$ 927,861	$ 983,426
Smalll Business Administration (SBA), CARES Act, Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	$ 22,700

Net Interest Income and Nonin_3

Net Interest Income and Noninterest Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income
Loans and leases	$ 34,029	$ 43,086	$ 40,811
Debt securities	9,790	11,806	11,724
Federal funds sold and securities borrowed or purchased under agreements to resell	903	4,843	3,176
Trading account assets	4,128	5,196	4,811
Other interest income	2,735	6,305	6,247
Total interest income	51,585	71,236	66,769
Interest expense
Deposits	1,943	7,188	4,495
Short-term borrowings	987	7,208	5,839
Trading account liabilities	974	1,249	1,358
Long-term debt	4,321	6,700	6,915
Total interest expense	8,225	22,345	18,607
Net interest income	43,360	48,891	48,162
Noninterest income
Total fees and commissions	34,551	33,015	33,078
Market making and similar activities	8,355	9,034	9,008
Other income	(738)	304	772
Total noninterest income	42,168	42,353	42,858
Rewards, rebates and compensation expense	5,500	6,200	5,600
Card income
Noninterest income
Card income and service charges	5,656	5,797	5,824
Interchange fees
Noninterest income
Card income and service charges	3,954	3,834	3,866
Interchange fees, gross	9,200	10,000	9,500
Other card income
Noninterest income
Card income and service charges	1,702	1,963	1,958
Service charges
Noninterest income
Card income and service charges	7,141	7,674	7,767
Deposit-related fees
Noninterest income
Card income and service charges	5,991	6,588	6,667
Lending-related fees
Noninterest income
Card income and service charges	1,150	1,086	1,100
Investment and brokerage services
Noninterest income
Investment and brokerage services	14,574	13,902	14,160
Asset management fees
Noninterest income
Investment and brokerage services	10,708	10,241	10,189
Brokerage fees
Noninterest income
Investment and brokerage services	3,866	3,661	3,971
Total investment banking fees
Noninterest income
Investment banking fees	7,180	5,642	5,327
Underwriting income
Noninterest income
Investment banking fees	4,698	2,998	2,722
Syndication fees
Noninterest income
Investment banking fees	861	1,184	1,347
Financial advisory services
Noninterest income
Investment banking fees	$ 1,621	$ 1,460	$ 1,258

Derivatives - Derivative Balanc

Derivatives - Derivative Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Gross Derivative Assets
Gross Derivative Assets	$ 434,600	$ 344,800
Less: Legally enforceable master netting agreements	(344,900)	(270,400)
Less: Cash collateral received/paid	(42,500)	(33,900)
Derivative assets	47,179	40,485
Gross Derivative Liabilities
Gross Derivative Liabilities	434,000	337,100
Less: Legally enforceable master netting agreements	(344,900)	(270,400)
Less: Cash collateral received/paid	(43,600)	(28,500)
Derivative liabilities	45,526	38,229
Interest Rate Swap
Maximum Payout/Notional
Contract/Notional	13,242,800	15,074,400
Gross Derivative Assets
Gross Derivative Assets	210,800	171,700
Gross Derivative Liabilities
Gross Derivative Liabilities	210,600	168,900
Interest Rate Futures and Forwards
Maximum Payout/Notional
Contract/Notional	3,222,200	3,279,800
Gross Derivative Assets
Gross Derivative Assets	3,600	1,000
Gross Derivative Liabilities
Gross Derivative Liabilities	3,600	1,000
Interest Rate Options | Written options
Maximum Payout/Notional
Contract/Notional	1,530,500	1,767,700
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	40,500	32,500
Interest Rate Options | Purchased options
Maximum Payout/Notional
Contract/Notional	1,545,800	1,673,600
Gross Derivative Assets
Gross Derivative Assets	45,300	37,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Foreign Exchange Swaps
Maximum Payout/Notional
Contract/Notional	1,475,800	1,657,700
Gross Derivative Assets
Gross Derivative Assets	37,400	31,000
Gross Derivative Liabilities
Gross Derivative Liabilities	40,300	32,600
Foreign Exchange Spot, Futures, and Forwards
Maximum Payout/Notional
Contract/Notional	3,710,700	3,792,700
Gross Derivative Assets
Gross Derivative Assets	53,400	36,000
Gross Derivative Liabilities
Gross Derivative Liabilities	55,000	39,000
Foreign Exchange Options | Written options
Maximum Payout/Notional
Contract/Notional	289,600	274,300
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	4,800	3,800
Foreign Exchange Options | Purchased options
Maximum Payout/Notional
Contract/Notional	279,300	261,600
Gross Derivative Assets
Gross Derivative Assets	5,000	4,000
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Equity Swaps
Maximum Payout/Notional
Contract/Notional	320,200	315,000
Gross Derivative Assets
Gross Derivative Assets	13,300	6,500
Gross Derivative Liabilities
Gross Derivative Liabilities	14,500	8,100
Equity Futures and Forwards
Maximum Payout/Notional
Contract/Notional	106,200	125,100
Gross Derivative Assets
Gross Derivative Assets	300	300
Gross Derivative Liabilities
Gross Derivative Liabilities	1,400	1,100
Equity Options | Written options
Maximum Payout/Notional
Contract/Notional	599,100	731,100
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	48,800	34,600
Equity Options | Purchased options
Maximum Payout/Notional
Contract/Notional	541,200	668,600
Gross Derivative Assets
Gross Derivative Assets	52,600	42,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Commodity Swaps
Maximum Payout/Notional
Contract/Notional	36,400	42,000
Gross Derivative Assets
Gross Derivative Assets	1,900	2,100
Gross Derivative Liabilities
Gross Derivative Liabilities	4,400	4,400
Commodity Futures and Forwards
Maximum Payout/Notional
Contract/Notional	63,600	61,300
Gross Derivative Assets
Gross Derivative Assets	2,000	1,700
Gross Derivative Liabilities
Gross Derivative Liabilities	1,000	400
Commodity Options | Written options
Maximum Payout/Notional
Contract/Notional	24,600	33,200
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	1,400	1,400
Commodity Options | Purchased options
Maximum Payout/Notional
Contract/Notional	24,700	37,900
Gross Derivative Assets
Gross Derivative Assets	1,500	1,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Credit default swaps: | Purchased credit derivatives:
Maximum Payout/Notional
Contract/Notional	322,700	321,600
Gross Derivative Assets
Gross Derivative Assets	2,300	2,700
Gross Derivative Liabilities
Gross Derivative Liabilities	4,400	5,600
Credit default swaps: | Written credit derivatives:
Maximum Payout/Notional
Contract/Notional	301,509	300,218
Gross Derivative Assets
Gross Derivative Assets	4,400	5,400
Gross Derivative Liabilities
Gross Derivative Liabilities	1,916	1,960
Total return swaps/options: | Purchased credit derivatives:
Maximum Payout/Notional
Contract/Notional	63,600	86,600
Gross Derivative Assets
Gross Derivative Assets	200	400
Gross Derivative Liabilities
Gross Derivative Liabilities	1,000	1,300
Total return swaps/options: | Written credit derivatives:
Maximum Payout/Notional
Contract/Notional	68,623	86,154
Gross Derivative Assets
Gross Derivative Assets	600	800
Gross Derivative Liabilities
Gross Derivative Liabilities	370	379
Credit derivatives | Purchased credit derivatives:
Gross Derivative Liabilities
Fair value asset (liability), with identical underlying referenced names and terms	2,200	2,800
Notional amount, with identical underlying referenced names and terms	269,800	309,700
Credit derivatives | Written credit derivatives:
Maximum Payout/Notional
Contract/Notional	370,132	386,372
Gross Derivative Liabilities
Gross Derivative Liabilities	2,286	2,339
Trading and Other Risk Management Derivatives
Gross Derivative Assets
Gross Derivative Assets	423,300	334,300
Gross Derivative Liabilities
Gross Derivative Liabilities	431,600	335,500
Trading and Other Risk Management Derivatives | Interest Rate Swap
Gross Derivative Assets
Gross Derivative Assets	199,900	162,000
Gross Derivative Liabilities
Gross Derivative Liabilities	209,300	168,500
Trading and Other Risk Management Derivatives | Interest Rate Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	3,500	1,000
Gross Derivative Liabilities
Gross Derivative Liabilities	3,600	1,000
Trading and Other Risk Management Derivatives | Interest Rate Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	40,500	32,500
Trading and Other Risk Management Derivatives | Interest Rate Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	45,300	37,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Trading and Other Risk Management Derivatives | Foreign Exchange Swaps
Gross Derivative Assets
Gross Derivative Assets	37,100	30,300
Gross Derivative Liabilities
Gross Derivative Liabilities	39,700	31,700
Trading and Other Risk Management Derivatives | Foreign Exchange Spot, Futures, and Forwards
Gross Derivative Assets
Gross Derivative Assets	53,400	35,900
Gross Derivative Liabilities
Gross Derivative Liabilities	54,500	38,700
Trading and Other Risk Management Derivatives | Foreign Exchange Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	4,800	3,800
Trading and Other Risk Management Derivatives | Foreign Exchange Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	5,000	4,000
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Trading and Other Risk Management Derivatives | Equity Swaps
Gross Derivative Assets
Gross Derivative Assets	13,300	6,500
Gross Derivative Liabilities
Gross Derivative Liabilities	14,500	8,100
Trading and Other Risk Management Derivatives | Equity Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	300	300
Gross Derivative Liabilities
Gross Derivative Liabilities	1,400	1,100
Trading and Other Risk Management Derivatives | Equity Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	48,800	34,600
Trading and Other Risk Management Derivatives | Equity Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	52,600	42,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Trading and Other Risk Management Derivatives | Commodity Swaps
Gross Derivative Assets
Gross Derivative Assets	1,900	2,100
Gross Derivative Liabilities
Gross Derivative Liabilities	4,400	4,400
Trading and Other Risk Management Derivatives | Commodity Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	2,000	1,700
Gross Derivative Liabilities
Gross Derivative Liabilities	1,000	400
Trading and Other Risk Management Derivatives | Commodity Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	1,400	1,400
Trading and Other Risk Management Derivatives | Commodity Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	1,500	1,400
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Trading and Other Risk Management Derivatives | Credit default swaps: | Purchased credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	2,300	2,700
Gross Derivative Liabilities
Gross Derivative Liabilities	4,400	5,600
Trading and Other Risk Management Derivatives | Credit default swaps: | Written credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	4,400	5,400
Gross Derivative Liabilities
Gross Derivative Liabilities	1,900	2,000
Trading and Other Risk Management Derivatives | Total return swaps/options: | Purchased credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	200	400
Gross Derivative Liabilities
Gross Derivative Liabilities	1,000	1,300
Trading and Other Risk Management Derivatives | Total return swaps/options: | Written credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	600	800
Gross Derivative Liabilities
Gross Derivative Liabilities	400	400
Qualifying Accounting Hedges
Gross Derivative Assets
Gross Derivative Assets	11,300	10,500
Gross Derivative Liabilities
Gross Derivative Liabilities	2,400	1,600
Qualifying Accounting Hedges | Interest Rate Swap
Gross Derivative Assets
Gross Derivative Assets	10,900	9,700
Gross Derivative Liabilities
Gross Derivative Liabilities	1,300	400
Qualifying Accounting Hedges | Interest Rate Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	100	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Interest Rate Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Interest Rate Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Foreign Exchange Swaps
Gross Derivative Assets
Gross Derivative Assets	300	700
Gross Derivative Liabilities
Gross Derivative Liabilities	600	900
Qualifying Accounting Hedges | Foreign Exchange Spot, Futures, and Forwards
Gross Derivative Assets
Gross Derivative Assets	0	100
Gross Derivative Liabilities
Gross Derivative Liabilities	500	300
Qualifying Accounting Hedges | Foreign Exchange Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Foreign Exchange Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Equity Swaps
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Equity Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Equity Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Equity Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Commodity Swaps
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Commodity Futures and Forwards
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Commodity Options | Written options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Commodity Options | Purchased options
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Credit default swaps: | Purchased credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Credit default swaps: | Written credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Total return swaps/options: | Purchased credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	0	0
Qualifying Accounting Hedges | Total return swaps/options: | Written credit derivatives:
Gross Derivative Assets
Gross Derivative Assets	0	0
Gross Derivative Liabilities
Gross Derivative Liabilities	$ 0	$ 0

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Offsetting Assets [Line Items]
Derivative assets, after netting	$ 39,300	$ 34,800
Other gross derivative assets	7,900	5,700
Derivative assets	47,179	40,485
Less: Financial instruments collateral	(16,100)	(14,600)
Total net derivative assets	31,100	25,900
Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	379,900	302,800
Less: Legally enforceable master netting agreements and cash collateral received/paid	(345,700)	(274,700)
Exchange-traded
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	33,000	27,300
Less: Legally enforceable master netting agreements and cash collateral received/paid	(29,500)	(21,500)
Over-the-counter cleared
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	13,800	9,000
Less: Legally enforceable master netting agreements and cash collateral received/paid	(12,200)	(8,100)
Interest rate contracts | Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	247,700	203,100
Interest rate contracts | Exchange-traded
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	0	100
Interest rate contracts | Over-the-counter cleared
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	10,200	6,000
Foreign exchange contracts | Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	92,200	69,200
Foreign exchange contracts | Over-the-counter cleared
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	1,400	500
Equity contracts | Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	31,300	21,300
Equity contracts | Exchange-traded
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	32,300	26,400
Commodity contracts | Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	3,500	2,800
Commodity contracts | Exchange-traded
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	700	800
Commodity contracts | Over-the-counter cleared
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	0	0
Credit derivatives | Over-the-counter
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	5,200	6,400
Credit derivatives | Over-the-counter cleared
Offsetting Assets [Line Items]
Total gross derivative assets, before netting	$ 2,200	$ 2,500

Derivatives - Offsetting Liabil

Derivatives - Offsetting Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Offsetting Liabilities [Line Items]
Derivative liabilities, after netting	$ 34,400	$ 31,200
Other gross derivative liabilities	11,100	7,000
Derivative liabilities	45,526	38,229
Less: Financial instruments collateral	(16,600)	(16,100)
Total net derivative liabilities	28,900	22,100
Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	378,900	298,300
Less: Legally enforceable master netting agreements and cash collateral received/paid	(347,200)	(269,300)
Exchange-traded
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	31,700	23,700
Less: Legally enforceable master netting agreements and cash collateral received/paid	(29,500)	(21,500)
Over-the-counter cleared
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	12,300	8,100
Less: Legally enforceable master netting agreements and cash collateral received/paid	(11,800)	(8,100)
Interest rate contracts | Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	243,500	196,600
Interest rate contracts | Exchange-traded
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	0	100
Interest rate contracts | Over-the-counter cleared
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	9,100	5,300
Foreign exchange contracts | Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	96,500	73,100
Foreign exchange contracts | Over-the-counter cleared
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	1,300	500
Equity contracts | Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	28,300	17,800
Equity contracts | Exchange-traded
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	31,000	22,800
Commodity contracts | Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	5,000	4,200
Commodity contracts | Exchange-traded
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	700	800
Commodity contracts | Over-the-counter cleared
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	0	100
Credit derivatives | Over-the-counter
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	5,600	6,600
Credit derivatives | Over-the-counter cleared
Offsetting Liabilities [Line Items]
Total gross derivative liabilities, before netting	$ 1,900	$ 2,200

Derivatives - Gains and Losses

Derivatives - Gains and Losses on Derivatives Designated as Fair Value Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	$ 7,830	$ 6,130	$ (2,777)
Hedged Item	(7,954)	(6,113)	2,558
Interest rate risk on long-term debt | Interest expense
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	7,091	6,113	(1,538)
Hedged Item	(7,220)	(6,110)	1,429
Interest rate and foreign currency risk on long-term debt
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	783	119	(1,187)
Hedged Item	(783)	(101)	1,079
Interest rate and foreign currency risk on long-term debt | Interest expense
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	701	73	(116)
Interest rate and foreign currency risk on long-term debt | Market making and similar activities
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	73	28	(992)
Interest rate risk on AFS securities | Interest Income
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	(44)	(102)	(52)
Hedged Item	49	98	50
Accumulated Other Comprehensive Income (Loss) | Interest rate and foreign currency risk on long-term debt
Effect of Fair Value Hedges on Results of Operations [Abstract]
Derivative	$ 9	$ 18	$ (79)

Derivatives - Designated Fair V

Derivatives - Designated Fair Value Hedged Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Hedged liability, long-term debt, carrying value	$ (150,556)	$ (162,389)
Hedged liability, long-term debt, cumulative fair value adjustments	(8,910)	(8,685)
Amortized cost basis of portfolios used in hedging relationships	34,600
Hedged asset, fair value edge, last-of-layer, amount	7,000
Total AFS debt securities
Derivative [Line Items]
Hedged asset, available-for-sale debt securities, carrying value	116,252	1,654
Hedged asset, available-for-sale debt securities, cumulative fair value adjustments	114	64
Total trading account assets
Derivative [Line Items]
Hedged asset, available-for-sale debt securities, carrying value	427	0
Hedged asset, available-for-sale debt securities, cumulative fair value adjustments	15	0
Interest rate risk on long-term debt
Derivative [Line Items]
(Increase) decrease in liability	(3,700)	1,300
Interest rate risk on AFS securities
Derivative [Line Items]
Available-for-sale securities from discontinued hedging relationships cumulative increase (decrease)	$ (69)	$ 8

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Shareholders’ equity	$ 272,924	$ 264,810	$ 265,325	$ 267,146
Net income (loss) in AOCI expected to be reclassified, after tax	190
Net income (loss) in AOCI expected to be reclassified	$ 254
Terminated cash flow hedges, forecasted transaction hedging period	3 years
Terminated cash flow hedges, maximum forecasted transaction hedging period	16 years
Bank of America, N.A.
Derivative [Line Items]
Collateral not yet posted	$ 1,200
Credit derivatives
Derivative [Line Items]
Cash and securities held as collateral	96,500	84,300
Cash and securities collateral posted	88,600	69,100
Collateral not yet posted	2,600
Foreign Mortgage-backed Securities and Foreign Securities
Derivative [Line Items]
Transfer of mortgage-backed securities to third-party trust	5,200	5,200
Gross cash proceeds from transfer of securities	5,200	5,200
Fair value of derecognized assets	5,500	$ 5,300
Derivatives
Derivative [Line Items]
Shareholders’ equity	426
Pretax income (loss) in accumulated OCI	$ 566

Derivatives - Derivatives Desig

Derivatives - Derivatives Designated as Cash Flow and Net Investment Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flow hedges
Amounts excluded from effectiveness testing and recognized in other income	$ (11)	$ 154	$ 47
Cash flow hedges
Cash flow hedges
Gains (Losses) in Accumulated OCI on Derivatives	1,089	705	(155)
Gains (Losses) in Income Reclassified from Accumulated OCI	14	(106)	(138)
Interest rate risk on variable-rate assets | Cash flow hedges
Cash flow hedges
Gains (Losses) in Accumulated OCI on Derivatives	763	671	(159)
Gains (Losses) in Income Reclassified from Accumulated OCI	(7)	(104)	(165)
Price risk on forecasted MBS purchases | Cash flow hedges
Cash flow hedges
Gains (Losses) in Accumulated OCI on Derivatives	241	0	0
Gains (Losses) in Income Reclassified from Accumulated OCI	9	0	0
Price risk on certain compensation plans | Cash flow hedges
Cash flow hedges
Gains (Losses) in Accumulated OCI on Derivatives	85	34	4
Gains (Losses) in Income Reclassified from Accumulated OCI	12	(2)	27
Foreign exchange contracts | Net investment hedges
Cash flow hedges
Gains (Losses) in Accumulated OCI on Derivatives	(834)	22	989
Gains (Losses) in Income Reclassified from Accumulated OCI	$ 4	$ 366	$ 411

Derivatives - Other Risk Manage

Derivatives - Other Risk Management Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest rate lock commitments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging	$ 165	$ 73	$ 47
Other income | Interest rate risk on mortgage activities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging	446	315	(107)
Other income | Credit risk on loans
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging	(68)	(58)	9
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	(2,971)	1,112	3,278
Other income | Price risk on deferred compensation hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging	$ 700	$ 943	$ (495)

Derivatives - Sales and Trading

Derivatives - Sales and Trading Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	$ 8,355	$ 9,034	$ 9,008
Brokerage commissions and asset management fee revenue | Global Markets
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	1,900	1,700	1,700
Trading Derivatives and Securities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	14,821	12,495	12,925
Trading Derivatives and Securities | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	8,469	7,062	7,258
Trading Derivatives and Securities | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	3,945	3,122	3,108
Trading Derivatives and Securities | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	2,407	2,311	2,559
Trading Derivatives and Securities | Interest rate risk
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	4,842	2,930	2,706
Trading Derivatives and Securities | Interest rate risk | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	2,211	1,000	810
Trading Derivatives and Securities | Interest rate risk | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	2,400	1,817	1,651
Trading Derivatives and Securities | Interest rate risk | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	231	113	245
Trading Derivatives and Securities | Foreign exchange risk
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	1,465	1,407	1,557
Trading Derivatives and Securities | Foreign exchange risk | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	1,482	1,288	1,504
Trading Derivatives and Securities | Foreign exchange risk | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	(20)	62	31
Trading Derivatives and Securities | Foreign exchange risk | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	3	57	22
Trading Derivatives and Securities | Equity risk
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	5,380	4,498	4,856
Trading Derivatives and Securities | Equity risk | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	3,656	3,563	3,870
Trading Derivatives and Securities | Equity risk | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	(77)	(634)	(657)
Trading Derivatives and Securities | Equity risk | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	1,801	1,569	1,643
Trading Derivatives and Securities | Credit risk
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	2,778	3,417	3,520
Trading Derivatives and Securities | Credit risk | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	812	1,091	1,034
Trading Derivatives and Securities | Credit risk | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	1,638	1,807	1,886
Trading Derivatives and Securities | Credit risk | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	328	519	600
Trading Derivatives and Securities | Other risk
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	356	243	286
Trading Derivatives and Securities | Other risk | Market making and similar activities
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	308	120	40
Trading Derivatives and Securities | Other risk | Net Interest Income
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	4	70	197
Trading Derivatives and Securities | Other risk | Other
Trading Activity, Gains and Losses, Net [Line Items]
Sales and trading revenue	$ 44	$ 53	$ 49

Derivatives - Credit Derivative

Derivatives - Credit Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Carrying Value of Credit Derivatives
Total	$ 434,000	$ 337,100
Carrying Value of Credit-related Notes
Less than One Year	64	6
One to Three Years	2	5
Three to Five Years	10	2
Over Five Years	1,519	1,764
Total	1,595	1,777
Credit default swaps: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	26	70
One to Three Years	234	297
Three to Five Years	399	621
Over Five Years	1,257	972
Total	1,916	1,960
Maximum Payout/Notional
Less than One Year	47,138	74,876
One to Three Years	104,501	94,359
Three to Five Years	123,196	100,938
Over Five Years	26,674	30,045
Total	301,509	300,218
Total return swaps/options: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	366	379
One to Three Years	4	0
Three to Five Years	0	0
Over Five Years	0	0
Total	370	379
Maximum Payout/Notional
Less than One Year	67,089	85,195
One to Three Years	1,425	657
Three to Five Years	104	166
Over Five Years	5	136
Total	68,623	86,154
Credit derivatives | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	392	449
One to Three Years	238	297
Three to Five Years	399	621
Over Five Years	1,257	972
Total	2,286	2,339
Maximum Payout/Notional
Less than One Year	114,227	160,071
One to Three Years	105,926	95,016
Three to Five Years	123,300	101,104
Over Five Years	26,679	30,181
Total	370,132	386,372
Investment grade
Carrying Value of Credit-related Notes
Less than One Year	0	0
One to Three Years	0	3
Three to Five Years	0	1
Over Five Years	572	639
Total	572	643
Investment grade | Credit default swaps: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	0	0
One to Three Years	1	5
Three to Five Years	35	60
Over Five Years	94	164
Total	130	229
Maximum Payout/Notional
Less than One Year	33,474	55,827
One to Three Years	75,731	67,838
Three to Five Years	87,218	71,320
Over Five Years	16,822	17,708
Total	213,245	212,693
Investment grade | Total return swaps/options: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	21	35
One to Three Years	4	0
Three to Five Years	0	0
Over Five Years	0	0
Total	25	35
Maximum Payout/Notional
Less than One Year	30,961	56,488
One to Three Years	1,061	0
Three to Five Years	77	62
Over Five Years	0	76
Total	32,099	56,626
Non-investment grade
Carrying Value of Credit-related Notes
Less than One Year	64	6
One to Three Years	2	2
Three to Five Years	10	1
Over Five Years	947	1,125
Total	1,023	1,134
Non-investment grade | Credit default swaps: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	26	70
One to Three Years	233	292
Three to Five Years	364	561
Over Five Years	1,163	808
Total	1,786	1,731
Maximum Payout/Notional
Less than One Year	13,664	19,049
One to Three Years	28,770	26,521
Three to Five Years	35,978	29,618
Over Five Years	9,852	12,337
Total	88,264	87,525
Non-investment grade | Total return swaps/options: | Written credit derivatives:
Carrying Value of Credit Derivatives
Less than One Year	345	344
One to Three Years	0	0
Three to Five Years	0	0
Over Five Years	0	0
Total	345	344
Maximum Payout/Notional
Less than One Year	36,128	28,707
One to Three Years	364	657
Three to Five Years	27	104
Over Five Years	5	60
Total	$ 36,524	$ 29,528

Derivatives - Credit-related Co

Derivatives - Credit-related Contingent Features and Collateral (Details) $ in Millions	Dec. 31, 2020USD ($)
Derivative [Line Items]
Additional collateral required to be posted upon downgrade, one incremental notch	$ 300
Additional collateral required to be posted upon downgrade, second incremental notch	735
Credit derivatives
Derivative [Line Items]
Derivative liability subject to unilateral termination upon downgrade, one incremental notch	45
Derivative liability subject to unilateral termination upon downgrade, second incremental notch	1,035
Collateral posted subject to unilateral termination upon downgrade, one incremental notch	23
Collateral posted subject to unilateral termination upon downgrade, second incremental notch	544
Bank of America, N.A.
Derivative [Line Items]
Additional collateral required to be posted upon downgrade, one incremental notch	61
Additional collateral required to be posted upon downgrade, second incremental notch	$ 570

Derivatives - Valuation Adjustm

Derivatives - Valuation Adjustments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross
Derivative assets (CVA)	$ (118)	$ 72	$ 77
Derivative assets/liabilities (FVA)	(24)	(2)	(15)
Derivative liabilities (DVA)	24	(147)	(19)
Cumulative credit valuation adjustment	646	528	600
Cumulative funding valuation adjustment	177	153	151
Cumulative debit valuation adjustment	$ 309	$ 285	$ 432

Securities - Debt Securities (D

Securities - Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Available-for-sale debt securities
Amortized Cost	$ 228,238	$ 243,307
Gross Unrealized Gains	6,384	2,776
Gross Unrealized Losses	(131)	(444)
Fair Value	234,491	245,639
Other Debt Securities, Carried at Fair Value:
Amortized Cost	11,720	10,596
Gross Unrealized Gains	429	255
Gross Unrealized Losses	(39)	(23)
Fair Value	12,110	10,828
Debt securities carried at fair value:
Amortized Cost	239,958	253,903
Gross Unrealized Gains	6,813	3,031
Gross Unrealized Losses	(170)	(467)
Fair Value	246,601	256,467
Held-to-maturity Securities:
Amortized Cost	438,279	215,730
Gross Unrealized Gains	10,095	4,433
Gross Unrealized Losses	(194)	(342)
Fair Value	448,180	219,821
Debt securities:
Amortized Cost	678,237	469,633
Gross Unrealized Gains	16,908	7,464
Gross Unrealized Losses	(364)	(809)
Fair Value	694,781	476,288
Securities, pledged as collateral	65,500	67,000
FNMA
Debt securities carried at fair value:
Amortized Cost	260,100	157,200
Fair Value	267,500	160,600
FHLMC
Debt securities carried at fair value:
Amortized Cost	118,100	54,100
Fair Value	120,700	55,100
Mortgage-backed securities
Available-for-sale debt securities
Amortized Cost	80,999	142,030
Gross Unrealized Gains	3,683	1,478
Gross Unrealized Losses	(73)	(241)
Fair Value	84,609	143,267
Debt securities carried at fair value:
Fair Value	85,397
Agency
Available-for-sale debt securities
Amortized Cost	59,518	121,698
Gross Unrealized Gains	2,370	1,013
Gross Unrealized Losses	(39)	(183)
Fair Value	61,849	122,528
Debt securities carried at fair value:
Fair Value	61,849
Agency-collateralized mortgage obligations
Available-for-sale debt securities
Amortized Cost	5,112	4,587
Gross Unrealized Gains	161	78
Gross Unrealized Losses	(13)	(24)
Fair Value	5,260	4,641
Debt securities carried at fair value:
Fair Value	5,260
Commercial
Available-for-sale debt securities
Amortized Cost	15,470	14,797
Gross Unrealized Gains	1,025	249
Gross Unrealized Losses	(4)	(25)
Fair Value	16,491	15,021
Debt securities carried at fair value:
Fair Value	16,505
Non-agency residential
Available-for-sale debt securities
Amortized Cost	899	948
Gross Unrealized Gains	127	138
Gross Unrealized Losses	(17)	(9)
Fair Value	1,009	$ 1,077
Debt securities carried at fair value:
Fair Value	$ 1,783
Non-agency residential | Prime
Debt securities:
Available-for-sale securities, percent held by rating	37.00%	49.00%
Non-agency residential | Alt-A
Debt securities:
Available-for-sale securities, percent held by rating	2.00%	6.00%
Non-agency residential | Subprime
Debt securities:
Available-for-sale securities, percent held by rating	61.00%	45.00%
U.S. Treasury and agency securities
Available-for-sale debt securities
Amortized Cost	$ 114,157	$ 67,700
Gross Unrealized Gains	2,236	1,023
Gross Unrealized Losses	(13)	(195)
Fair Value	116,380	68,528
Debt securities carried at fair value:
Fair Value	116,473
Non-U.S. securities
Available-for-sale debt securities
Amortized Cost	14,009	11,987
Gross Unrealized Gains	15	6
Gross Unrealized Losses	(7)	(2)
Fair Value	14,017	11,991
Debt securities carried at fair value:
Fair Value	25,243
Other taxable securities, substantially all asset-backed securities
Available-for-sale debt securities
Amortized Cost	2,656	3,874
Gross Unrealized Gains	61	67
Gross Unrealized Losses	(6)	0
Fair Value	2,711	3,941
Debt securities carried at fair value:
Fair Value	2,714
Total taxable securities
Available-for-sale debt securities
Amortized Cost	211,821	225,591
Gross Unrealized Gains	5,995	2,574
Gross Unrealized Losses	(99)	(438)
Fair Value	217,717	227,727
Debt securities carried at fair value:
Fair Value	229,827
Tax-exempt securities
Available-for-sale debt securities
Amortized Cost	16,417	17,716
Gross Unrealized Gains	389	202
Gross Unrealized Losses	(32)	(6)
Fair Value	16,774	$ 17,912
Debt securities carried at fair value:
Fair Value	$ 16,774

Securities - Narrative (Details

Securities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 234,491	$ 245,639
Other assets
Debt Securities, Available-for-sale [Line Items]
Equity securities, fair value	769	891
Equity securities, cost	240	183
Time Deposits Placed and Other Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Time deposits placed and other short-term investments	1,600	1,000
Nonperforming Loans
Debt Securities, Available-for-sale [Line Items]
Fair Value	20	$ 9
Debt securities
Debt Securities, Available-for-sale [Line Items]
Accumulated net unrealized gain (loss) on AFS debt securities	4,700
Accumulated other comprehensive income tax expense (benefit)	1,600
U.S. Agency And U.S. Treasury Securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	200,000
All Non U.S. Agency And Non U.S. Treasury Securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 34,500

Securities - Gains and Losses o

Securities - Gains and Losses on Sales of AFS Debt Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
Gross gains	$ 423	$ 336	$ 169
Gross losses	(12)	(119)	(15)
Net gains on sales of AFS debt securities	411	217	154
Income tax expense attributable to realized net gains on sales of AFS debt securities	$ 103	$ 54	$ 37

Securities - AFS Debt Securitie

Securities - AFS Debt Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value
Less than Twelve Months	$ 18,763	$ 39,109
Twelve Months or Longer	2,077	38,742
Total	20,840	77,851
Gross Unrealized Losses
Less than Twelve Months	(100)	(146)
Twelve Months or Longer	(31)	(298)
Total	(131)	(444)
Mortgage-backed securities
Fair Value
Less than Twelve Months	3,936	20,198
Twelve Months or Longer	431	18,627
Total	4,367	38,825
Gross Unrealized Losses
Less than Twelve Months	(54)	(70)
Twelve Months or Longer	(19)	(171)
Total	(73)	(241)
Agency
Fair Value
Less than Twelve Months	2,841	17,641
Twelve Months or Longer	2	17,238
Total	2,843	34,879
Gross Unrealized Losses
Less than Twelve Months	(39)	(41)
Twelve Months or Longer	0	(142)
Total	(39)	(183)
Agency-collateralized mortgage obligations
Fair Value
Less than Twelve Months	187	255
Twelve Months or Longer	364	925
Total	551	1,180
Gross Unrealized Losses
Less than Twelve Months	(2)	(1)
Twelve Months or Longer	(11)	(23)
Total	(13)	(24)
Commercial
Fair Value
Less than Twelve Months	566	2,180
Twelve Months or Longer	9	442
Total	575	2,622
Gross Unrealized Losses
Less than Twelve Months	(4)	(22)
Twelve Months or Longer	0	(3)
Total	(4)	(25)
Non-agency residential
Fair Value
Less than Twelve Months	342	122
Twelve Months or Longer	56	22
Total	398	144
Gross Unrealized Losses
Less than Twelve Months	(9)	(6)
Twelve Months or Longer	(8)	(3)
Total	(17)	(9)
U.S. Treasury and agency securities
Fair Value
Less than Twelve Months	8,282	12,836
Twelve Months or Longer	498	18,866
Total	8,780	31,702
Gross Unrealized Losses
Less than Twelve Months	(9)	(71)
Twelve Months or Longer	(4)	(124)
Total	(13)	(195)
Non-U.S. securities
Fair Value
Less than Twelve Months	1,861	851
Twelve Months or Longer	135	837
Total	1,996	1,688
Gross Unrealized Losses
Less than Twelve Months	(6)	0
Twelve Months or Longer	(1)	(2)
Total	(7)	(2)
Other taxable securities, substantially all asset-backed securities
Fair Value
Less than Twelve Months	576	938
Twelve Months or Longer	396	222
Total	972	1,160
Gross Unrealized Losses
Less than Twelve Months	(2)	0
Twelve Months or Longer	(4)	0
Total	(6)	0
Total taxable securities
Fair Value
Less than Twelve Months	14,655	34,823
Twelve Months or Longer	1,460	38,552
Total	16,115	73,375
Gross Unrealized Losses
Less than Twelve Months	(71)	(141)
Twelve Months or Longer	(28)	(297)
Total	(99)	(438)
Tax-exempt securities
Fair Value
Less than Twelve Months	4,108	4,286
Twelve Months or Longer	617	190
Total	4,725	4,476
Gross Unrealized Losses
Less than Twelve Months	(29)	(5)
Twelve Months or Longer	(3)	(1)
Total	$ (32)	$ (6)

Securities - Maturities of Debt

Securities - Maturities of Debt Securities Carried at Fair Value and Held-to-maturity Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Held-to-maturity, Maturity, Amortized Cost, Net [Abstract]
Due in one year or less, amount	$ 15
Due in one year or less, yield	3.78%
Due after one year through five years, amount	$ 66
Due after one year through five years, yield	2.73%
Due after five years through ten years, amount	$ 17,133
Due after five years though ten years, yield	1.86%
Due after ten years, amount	$ 421,065
Due after ten years, yield	2.40%
Amortized cost	$ 438,279	$ 215,730
Total, yield	2.38%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Fair Value	$ 246,601	256,467
Held-to-maturity Securities, Debt Maturities, Fair Value [Abstract]
Due in one year or less, amount	14
Due after one year through five years, amount	69
Due after five years though ten years, amount	17,139
Due after ten years, amount	430,958
Held-to-maturity, fair value	448,180	$ 219,821
Mortgage-backed securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 26
Due in one year or less, yield	3.04%
Due after one year through five years, amount	$ 6,676
Due after one year through five years, yield	2.52%
Due after five years through ten years, amount	$ 7,792
Due after five years through ten years, yield	2.34%
Due after ten years, amount	$ 67,240
Due after ten years, yield	3.40%
Total, amount	$ 81,734
Total, yield	3.23%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 26
Due after one year through five years, amount	7,084
Due after five years though ten years, amount	8,334
Due after ten years, amount	69,953
Fair Value	85,397
Agency
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
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	$ 7
Due after one year through five years, yield	5.69%
Due after five years through ten years, amount	$ 56
Due after five years through ten years, yield	4.44%
Due after ten years, amount	$ 59,455
Due after ten years, yield	3.36%
Total, amount	$ 59,518
Total, yield	3.36%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 0
Due after one year through five years, amount	7
Due after five years though ten years, amount	61
Due after ten years, amount	61,781
Fair Value	61,849
Agency-collateralized mortgage obligations
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
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 through ten years, amount	$ 24
Due after five years through ten years, yield	2.57%
Due after ten years, amount	$ 5,088
Due after ten years, yield	2.94%
Total, amount	$ 5,112
Total, yield	2.94%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
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	24
Due after ten years, amount	5,236
Fair Value	5,260
Commercial
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 26
Due in one year or less, yield	3.04%
Due after one year through five years, amount	$ 6,669
Due after one year through five years, yield	2.52%
Due after five years through ten years, amount	$ 7,711
Due after five years through ten years, yield	2.32%
Due after ten years, amount	$ 1,077
Due after ten years, yield	2.64%
Total, amount	$ 15,483
Total, yield	2.43%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 26
Due after one year through five years, amount	7,077
Due after five years though ten years, amount	8,242
Due after ten years, amount	1,160
Fair Value	16,505
Non-agency residential
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
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 through ten years, amount	$ 1
Due after five years through ten years, yield	0.00%
Due after ten years, amount	$ 1,620
Due after ten years, yield	6.77%
Total, amount	$ 1,621
Total, yield	6.77%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
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	7
Due after ten years, amount	1,776
Fair Value	1,783
U.S. Treasury and agency securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 10,020
Due in one year or less, yield	1.26%
Due after one year through five years, amount	$ 29,533
Due after one year through five years, yield	1.85%
Due after five years through ten years, amount	$ 74,665
Due after five years through ten years, yield	0.74%
Due after ten years, amount	$ 32
Due after ten years, yield	2.55%
Total, amount	$ 114,250
Total, yield	1.07%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 10,056
Due after one year through five years, amount	30,873
Due after five years though ten years, amount	75,511
Due after ten years, amount	33
Fair Value	116,473
Non-U.S. securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 22,862
Due in one year or less, yield	0.31%
Due after one year through five years, amount	$ 926
Due after one year through five years, yield	1.81%
Due after five years through ten years, amount	$ 581
Due after five years through ten years, yield	1.09%
Due after ten years, amount	$ 532
Due after ten years, yield	1.79%
Total, amount	$ 24,901
Total, yield	0.42%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 23,187
Due after one year through five years, amount	940
Due after five years though ten years, amount	582
Due after ten years, amount	534
Fair Value	25,243
Other taxable securities, substantially all asset-backed securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 699
Due in one year or less, yield	1.15%
Due after one year through five years, amount	$ 1,336
Due after one year through five years, yield	2.46%
Due after five years through ten years, amount	$ 366
Due after five years through ten years, yield	2.26%
Due after ten years, amount	$ 255
Due after ten years, yield	1.60%
Total, amount	$ 2,656
Total, yield	2.00%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 702
Due after one year through five years, amount	1,369
Due after five years though ten years, amount	379
Due after ten years, amount	264
Fair Value	2,714
Total taxable securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 33,607
Due in one year or less, yield	0.61%
Due after one year through five years, amount	$ 38,471
Due after one year through five years, yield	1.99%
Due after five years through ten years, amount	$ 83,404
Due after five years through ten years, yield	0.89%
Due after ten years, amount	$ 68,059
Due after ten years, yield	3.38%
Total, amount	$ 223,541
Total, yield	1.80%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 33,971
Due after one year through five years, amount	40,266
Due after five years though ten years, amount	84,806
Due after ten years, amount	70,784
Fair Value	229,827
Tax-exempt securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 872
Due in one year or less, yield	0.87%
Due after one year through five years, amount	$ 8,430
Due after one year through five years, yield	1.27%
Due after five years through ten years, amount	$ 4,397
Due after five years through ten years, yield	1.66%
Due after ten years, amount	$ 2,718
Due after ten years, yield	1.41%
Total, amount	$ 16,417
Total, yield	1.38%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 874
Due after one year through five years, amount	8,554
Due after five years though ten years, amount	4,566
Due after ten years, amount	2,780
Fair Value	16,774
Debt securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 34,479
Due in one year or less, yield	0.62%
Due after one year through five years, amount	$ 46,901
Due after one year through five years, yield	1.86%
Due after five years through ten years, amount	$ 87,801
Due after five years through ten years, yield	0.93%
Due after ten years, amount	$ 70,777
Due after ten years, yield	3.30%
Total, amount	$ 239,958
Total, yield	1.77%
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less, amount	$ 34,845
Due after one year through five years, amount	48,820
Due after five years though ten years, amount	89,372
Due after ten years, amount	73,564
Fair Value	$ 246,601

Outstanding Loans and Leases _3

Outstanding Loans and Leases and Allowance for Credit Losses - Past Due (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 927,861	$ 983,426
Percentage of outstandings, total outstanding	100.00%	100.00%
Loans and leases, measured at fair value	$ 6,681	$ 8,335
Loans and leases, pledged as collateral	15,500	25,900
Loans pledged to secure borrowings	153,100	168,200
Estimate of Fair Value Measurement
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 6,681	$ 8,335
Percentage of outstandings, total outstanding	0.72%	0.85%
Direct/indirect consumer | Nonperforming Loans
Financing Receivable, Past Due [Line Items]
Nonperforming loans	$ 66	$ 45
Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	428,796	465,769
Consumer Portfolio Segment | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	428,061	465,175
Consumer Portfolio Segment | Estimate of Fair Value Measurement
Financing Receivable, Past Due [Line Items]
Loans and leases	735	594
Consumer Portfolio Segment | Residential mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases, measured at fair value	298	257
Consumer Portfolio Segment | Home equity lines of credit
Financing Receivable, Past Due [Line Items]
Loans and leases, measured at fair value	437	337
Consumer real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	34,311
Consumer real estate | Nonperforming Loans
Financing Receivable, Past Due [Line Items]
Nonperforming loans	1,200	856
Consumer real estate | Core Portfolio Residential Mortgage | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	215,273	225,770
Consumer real estate | Core Portfolio Home Equity | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	30,328	35,226
Consumer real estate | Non-core Portfolio Residential Mortgage | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	8,282	10,399
Consumer real estate | Non-core Portfolio Home Equity | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	3,983	4,982
Consumer real estate | Residential mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	223,555
Credit card and other consumer | Credit card | Carrying Value | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	78,708	97,608
Credit card and other consumer | Direct/indirect consumer | Dealer Financial Services Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	46,400	50,400
Credit card and other consumer | Direct/indirect consumer | Securities Based Lending Loans | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	41,100	36,700
Credit card and other consumer | Direct/indirect consumer | Securities Based Lending Loans | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	3,000	2,800
Credit card and other consumer | Direct/indirect consumer | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	91,363	90,998
Credit card and other consumer | Other consumer | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	124	192
Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	499,065	517,657
Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	288,728
Loans and leases, measured at fair value	2,900	4,700
Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	90,460
Loans and leases, measured at fair value	3,000	3,100
Commercial | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	493,119	509,916
Commercial | Carrying Value | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	288,728	307,048
Commercial | Carrying Value | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	90,460	104,966
Commercial | Estimate of Fair Value Measurement
Financing Receivable, Past Due [Line Items]
Loans and leases	5,946	7,741
Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	60,364
Commercial | Commercial real estate | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	57,200	59,000
Commercial | Commercial real estate | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	3,200	3,700
Commercial | Commercial real estate | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	60,364	62,689
Commercial | Commercial lease financing | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	17,098	19,880
Commercial | U.S. small business commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	29,934
Commercial | U.S. small business commercial | Carrying Value
Financing Receivable, Past Due [Line Items]
Loans and leases	36,469	15,333
30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 3,158	$ 4,052
Percentage of outstandings	0.34%	0.41%
30 to 59 Days Past Due | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 2,238	$ 2,866
30 to 59 Days Past Due | Consumer real estate | US Government Agency Insured Loans
Financing Receivable, Past Due [Line Items]
Non-performing troubled debt with no change in repayment terms at time of discharge, past due	225	517
30 to 59 Days Past Due | Consumer real estate | Nonperforming Loans
Financing Receivable, Past Due [Line Items]
Non-performing troubled debt with no change in repayment terms at time of discharge, past due	126	139
30 to 59 Days Past Due | Consumer real estate | Core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	1,157	1,378
30 to 59 Days Past Due | Consumer real estate | Core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	126	135
30 to 59 Days Past Due | Consumer real estate | Non-core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	273	458
30 to 59 Days Past Due | Consumer real estate | Non-core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	28	34
30 to 59 Days Past Due | Credit card and other consumer | Credit card | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	445	564
30 to 59 Days Past Due | Credit card and other consumer | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	209	297
30 to 59 Days Past Due | Credit card and other consumer | Other consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
30 to 59 Days Past Due | Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	920	1,186
30 to 59 Days Past Due | Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	561	788
30 to 59 Days Past Due | Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	61	35
30 to 59 Days Past Due | Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	128	144
30 to 59 Days Past Due | Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Loans and leases	86	100
30 to 59 Days Past Due | Commercial | U.S. small business commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	84	119
60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 1,230	$ 1,503
Percentage of outstandings	0.13%	0.15%
60 to 89 Days Past Due | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 783	$ 1,070
60 to 89 Days Past Due | Consumer real estate | US Government Agency Insured Loans
Financing Receivable, Past Due [Line Items]
Non-performing troubled debt with no change in repayment terms at time of discharge, past due	103	206
60 to 89 Days Past Due | Consumer real estate | Nonperforming Loans
Financing Receivable, Past Due [Line Items]
Non-performing troubled debt with no change in repayment terms at time of discharge, past due	95	114
60 to 89 Days Past Due | Consumer real estate | Core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	175	261
60 to 89 Days Past Due | Consumer real estate | Core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	61	70
60 to 89 Days Past Due | Consumer real estate | Non-core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	122	209
60 to 89 Days Past Due | Consumer real estate | Non-core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	17	16
60 to 89 Days Past Due | Credit card and other consumer | Credit card | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	341	429
60 to 89 Days Past Due | Credit card and other consumer | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	67	85
60 to 89 Days Past Due | Credit card and other consumer | Other consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
60 to 89 Days Past Due | Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	447	433
60 to 89 Days Past Due | Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	214	279
60 to 89 Days Past Due | Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	44	23
60 to 89 Days Past Due | Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	113	19
60 to 89 Days Past Due | Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Loans and leases	20	56
60 to 89 Days Past Due | Commercial | U.S. small business commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	56	56
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 3,913	$ 3,819
Percentage of outstandings	0.42%	0.39%
90 Days or More Past Due | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 2,984	$ 3,175
90 Days or More Past Due | Consumer real estate | US Government Agency Insured Loans
Financing Receivable, Past Due [Line Items]
Non-performing troubled debt with no change in repayment terms at time of discharge, past due	762	1,100
90 Days or More Past Due | Consumer real estate | Core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	786	565
90 Days or More Past Due | Consumer real estate | Core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	269	198
90 Days or More Past Due | Consumer real estate | Non-core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	913	1,263
90 Days or More Past Due | Consumer real estate | Non-core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	76	72
90 Days or More Past Due | Credit card and other consumer | Credit card | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	903	1,042
90 Days or More Past Due | Credit card and other consumer | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	37	35
90 Days or More Past Due | Credit card and other consumer | Other consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
90 Days or More Past Due | Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	929	644
90 Days or More Past Due | Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	512	371
90 Days or More Past Due | Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	11	8
90 Days or More Past Due | Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	226	119
90 Days or More Past Due | Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Loans and leases	57	39
90 Days or More Past Due | Commercial | U.S. small business commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	123	107
Total Past Due 30 Days or More
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 8,301	$ 9,374
Percentage of outstandings	0.89%	0.95%
Total Past Due 30 Days or More | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 6,005	$ 7,111
Total Past Due 30 Days or More | Consumer real estate | Core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	2,118	2,204
Total Past Due 30 Days or More | Consumer real estate | Core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	456	403
Total Past Due 30 Days or More | Consumer real estate | Non-core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	1,308	1,930
Total Past Due 30 Days or More | Consumer real estate | Non-core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	121	122
Total Past Due 30 Days or More | Credit card and other consumer | Credit card | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	1,689	2,035
Total Past Due 30 Days or More | Credit card and other consumer | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	313	417
Total Past Due 30 Days or More | Credit card and other consumer | Other consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
Total Past Due 30 Days or More | Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	2,296	2,263
Total Past Due 30 Days or More | Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	1,287	1,438
Total Past Due 30 Days or More | Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	116	66
Total Past Due 30 Days or More | Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	467	282
Total Past Due 30 Days or More | Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Loans and leases	163	195
Total Past Due 30 Days or More | Commercial | U.S. small business commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	263	282
Total Current or Less Than 30 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 912,879	$ 965,717
Percentage of outstandings, total outstanding	98.39%	98.20%
Total Current or Less Than 30 Days Past Due | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 422,056	$ 458,064
Total Current or Less Than 30 Days Past Due | Consumer real estate | Core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	213,155	223,566
Total Current or Less Than 30 Days Past Due | Consumer real estate | Core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	29,872	34,823
Total Current or Less Than 30 Days Past Due | Consumer real estate | Non-core Portfolio Residential Mortgage
Financing Receivable, Past Due [Line Items]
Loans and leases	6,974	8,469
Total Current or Less Than 30 Days Past Due | Consumer real estate | Non-core Portfolio Home Equity
Financing Receivable, Past Due [Line Items]
Loans and leases	3,862	4,860
Total Current or Less Than 30 Days Past Due | Credit card and other consumer | Credit card | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	77,019	95,573
Total Current or Less Than 30 Days Past Due | Credit card and other consumer | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	91,050	90,581
Total Current or Less Than 30 Days Past Due | Credit card and other consumer | Other consumer
Financing Receivable, Past Due [Line Items]
Loans and leases	124	192
Total Current or Less Than 30 Days Past Due | Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	490,823	507,653
Total Current or Less Than 30 Days Past Due | Commercial | United States
Financing Receivable, Past Due [Line Items]
Loans and leases	287,441	305,610
Total Current or Less Than 30 Days Past Due | Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Loans and leases	90,344	104,900
Total Current or Less Than 30 Days Past Due | Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	59,897	62,407
Total Current or Less Than 30 Days Past Due | Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Loans and leases	16,935	19,685
Total Current or Less Than 30 Days Past Due | Commercial | U.S. small business commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 36,206	$ 15,051

Outstanding Loans and Leases _4

Outstanding Loans and Leases and Allowance for Credit Losses - Nonperforming, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	$ 4,952	$ 3,552
Purchased credit-impaired loans	$ 144
Threshold period past due for nonperforming status of financing receivables	90 days	90 days
Commercial
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	$ 2,227	$ 1,499
Threshold period past due for nonperforming status of financing receivables	90 days
Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	$ 2,725	2,053
Consumer Portfolio Segment | Residential mortgage
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	2,005	1,470
Consumer Portfolio Segment | Residential mortgage | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	127
Consumer Portfolio Segment | Home equity lines of credit
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	649	536
Consumer Portfolio Segment | Home equity lines of credit | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Past Due [Line Items]
Nonperforming loans and leases	17
Federal National Mortgage Association Certificates and Obligations (FNMA) and Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) | Residential mortgage
Financing Receivable, Past Due [Line Items]
Long-term credit protection agreements, amount covered	$ 9,000	$ 7,500

Outstanding Loans and Leases _5

Outstanding Loans and Leases and Allowance for Credit Losses - Nonperforming, Credit Quality (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	$ 4,952	$ 3,552
Accruing past due 90 days or more	$ 2,082	$ 2,413
Nonperforming loans and leases, percent outstanding	0.54%	0.36%
Accruing past due 90 days or more, percent outstanding	0.23%	0.25%
Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	$ 2,725	$ 2,053
Accruing past due 90 days or more	1,698	2,163
Consumer Portfolio Segment | Residential mortgage
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	2,005	1,470
Accruing past due 90 days or more	762	1,088
Consumer Portfolio Segment | Residential Mortgage With Negative Allowance
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	1,378
Accruing past due 90 days or more	0	0
Consumer Portfolio Segment | Home equity lines of credit
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	649	536
Accruing past due 90 days or more	0	0
Consumer Portfolio Segment | Home Equity Line of Credit With Negative Allowance
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	347
Accruing past due 90 days or more	0	0
Consumer Portfolio Segment | Credit card
Financing Receivable, Past Due [Line Items]
Accruing past due 90 days or more	903	1,042
Consumer Portfolio Segment | Direct/indirect consumer
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	71	47
Accruing past due 90 days or more	33	33
Commercial
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	2,227	1,499
Accruing past due 90 days or more	384	250
Commercial | United States
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	1,243	1,094
Accruing past due 90 days or more	228	106
Commercial | Non United States
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	418	43
Accruing past due 90 days or more	10	8
Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	404	280
Accruing past due 90 days or more	6	19
Commercial | Commercial lease financing
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	87	32
Accruing past due 90 days or more	25	20
Commercial | U.S. small business commercial | United States
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	75	50
Accruing past due 90 days or more	115	97
Nonperforming Loans | Residential mortgage
Financing Receivable, Past Due [Line Items]
Nonperforming Loans and Leases	537	740
Accruing past due 90 days or more	$ 225	$ 348

Outstanding Loans and Leases _6

Outstanding Loans and Leases and Allowance for Credit Losses - Residential Mortgage - Credit Quality Indicators (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	$ 927,861	$ 983,426
Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	34,311
Consumer real estate | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	223,555
2020	75,405
2019	46,643
2018	15,203
2017	22,040
2016	25,070
Prior	39,194
Consumer real estate | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	1,082
Consumer real estate | Less than 620 | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	2,717
2020	823
2019	177
2018	139
2017	170
2016	150
Prior	1,258
Consumer real estate | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	1,798
Consumer real estate | Greater than or equal to 620 and less than 680 | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	5,462
2020	1,804
2019	666
2018	468
2017	385
2016	368
Prior	1,771
Consumer real estate | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	5,762
Consumer real estate | Greater than or equal to 680 and less than 740 | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	25,349
2020	8,533
2019	4,679
2018	1,972
2017	2,427
2016	2,307
Prior	5,431
Consumer real estate | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	25,669
Consumer real estate | Greater than or equal to 740 | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	178,209
2020	60,419
2019	39,107
2018	12,254
2017	18,716
2016	20,275
Prior	27,438
Less than or equal to 90 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	33,447
Less than or equal to 90 percent | Consumer real estate | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	207,389
2020	68,907
2019	43,771
2018	14,658
2017	21,589
2016	22,967
Prior	35,497
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	351
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	3,138
2020	1,970
2019	684
2018	128
2017	70
2016	96
Prior	190
Greater than 100 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	513
Greater than 100 percent | Consumer real estate | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	1,210
2020	702
2019	174
2018	47
2017	39
2016	37
Prior	211
Fully-insured loans | Consumer real estate | Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	11,818
2020	3,826
2019	2,014
2018	370
2017	342
2016	1,970
Prior	$ 3,296

Outstanding Loans and Leases _7

Outstanding Loans and Leases and Allowance for Credit Losses - Home Equity - Credit Quality Indicators Including Vintage (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	$ 927,861	$ 983,426
Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	34,311
Consumer real estate | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	1,082
Consumer real estate | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	1,798
Consumer real estate | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	5,762
Consumer real estate | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	25,669
Consumer real estate | Home Equity Loans and Reverse Mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	2,217
Consumer real estate | Home Equity Loans and Reverse Mortgages | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	250
Consumer real estate | Home Equity Loans and Reverse Mortgages | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	263
Consumer real estate | Home Equity Loans and Reverse Mortgages | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	556
Consumer real estate | Home Equity Loans and Reverse Mortgages | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	1,148
Consumer real estate | Reverse Mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	1,300
Consumer real estate | Home Equity Loan no Longer Originated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	885
Consumer real estate | Revolving Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	22,851
Consumer real estate | Revolving Loans | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	244
Consumer real estate | Revolving Loans | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	568
Consumer real estate | Revolving Loans | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	2,905
Consumer real estate | Revolving Loans | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	19,134
Consumer real estate | Revolving Loans Converted to Term Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	9,243
Consumer real estate | Revolving Loans Converted to Term Loans | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	588
Consumer real estate | Revolving Loans Converted to Term Loans | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	967
Consumer real estate | Revolving Loans Converted to Term Loans | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	2,301
Consumer real estate | Revolving Loans Converted to Term Loans | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	5,387
Less than or equal to 90 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	33,447
Less than or equal to 90 percent | Consumer real estate | Home Equity Loans and Reverse Mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	1,919
Less than or equal to 90 percent | Consumer real estate | Revolving Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	22,639
Less than or equal to 90 percent | Consumer real estate | Revolving Loans Converted to Term Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	8,889
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	351
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate | Home Equity Loans and Reverse Mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	126
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate | Revolving Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	94
Greater than 90 percent but less than or equal to 100 percent | Consumer real estate | Revolving Loans Converted to Term Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	131
Greater than 100 percent | Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	513
Greater than 100 percent | Consumer real estate | Home Equity Loans and Reverse Mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	172
Greater than 100 percent | Consumer real estate | Revolving Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	118
Greater than 100 percent | Consumer real estate | Revolving Loans Converted to Term Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	$ 223

Outstanding Loans and Leases _8

Outstanding Loans and Leases and Allowance for Credit Losses - Credit Card and Other Consumer - Credit Quality Indicators (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	$ 927,861	$ 983,426
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	91,363
Revolving Loans	44,337
2020	16,226
2019	13,477
2018	7,490
2017	4,845
2016	2,557
Prior	2,431
Loans and lease receivable, securities based lending	44,100
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	959
Revolving Loans	19
2020	111
2019	200
2018	175
2017	243
2016	148
Prior	63
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	2,143
Revolving Loans	20
2020	653
2019	559
2018	329
2017	301
2016	176
Prior	105
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	7,431
Revolving Loans	80
2020	2,848
2019	2,015
2018	1,033
2017	739
2016	400
Prior	316
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	36,064
Revolving Loans	120
2020	12,540
2019	10,588
2018	5,869
2017	3,495
2016	1,781
Prior	1,671
Credit Card and Direct/ Indirect Consumer | Direct/indirect consumer | Other internal credit metrics
Financing Receivable, Credit Quality Indicator [Line Items]
Total as of December 31, 2020	44,766
Revolving Loans	44,098
2020	74
2019	115
2018	84
2017	67
2016	52
Prior	276
Credit Card and Direct/ Indirect Consumer | Credit card
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	78,067
Total Credit Card as of December 31, 2020	78,708
Revolving Loans Converted to Term Loans	641
Credit Card and Direct/ Indirect Consumer | Credit card | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	3,832
Total Credit Card as of December 31, 2020	4,018
Revolving Loans Converted to Term Loans	186
Credit Card and Direct/ Indirect Consumer | Credit card | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	9,201
Total Credit Card as of December 31, 2020	9,419
Revolving Loans Converted to Term Loans	218
Credit Card and Direct/ Indirect Consumer | Credit card | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	27,392
Total Credit Card as of December 31, 2020	27,585
Revolving Loans Converted to Term Loans	193
Credit Card and Direct/ Indirect Consumer | Credit card | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	37,642
Total Credit Card as of December 31, 2020	37,686
Revolving Loans Converted to Term Loans	44
Credit Card and Direct/ Indirect Consumer | Credit card | Other internal credit metrics
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	0
Total Credit Card as of December 31, 2020	0
Revolving Loans Converted to Term Loans	$ 0

Outstanding Loans and Leases _9

Outstanding Loans and Leases and Allowance for Credit Losses - Commercial - Credit Quality Indicators (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	$ 927,861	$ 983,426
Estimate of Fair Value Measurement
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	6,681	8,335
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	499,065	517,657
Revolving Loans Converted to Term Loans	58
Commercial | Estimate of Fair Value Measurement
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	5,946	7,741
Commercial | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	288,728
2020	35,980
2019	35,847
2018	20,052
2017	14,956
2016	8,118
Prior	23,186
Revolving Loans	150,589
Commercial | United States | Pass rated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	268,812
2020	33,456
2019	33,305
2018	17,363
2017	14,102
2016	7,420
Prior	21,784
Revolving Loans	141,382
Commercial | United States | Reservable criticized
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	19,916
2020	2,524
2019	2,542
2018	2,689
2017	854
2016	698
Prior	1,402
Revolving Loans	9,207
Commercial | Non United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	90,460
2020	17,215
2019	11,968
2018	7,943
2017	5,473
2016	1,812
Prior	2,453
Revolving Loans	43,596
Commercial | Non United States | Pass rated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	85,914
2020	16,301
2019	11,396
2018	7,451
2017	5,037
2016	1,674
Prior	2,194
Revolving Loans	41,861
Commercial | Non United States | Reservable criticized
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	4,546
2020	914
2019	572
2018	492
2017	436
2016	138
Prior	259
Revolving Loans	1,735
Commercial | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	60,364
2020	9,362
2019	16,684
2018	10,343
2017	6,181
2016	3,905
Prior	7,978
Revolving Loans	5,911
Commercial | Commercial real estate | Pass rated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	50,260
2020	8,429
2019	14,126
2018	8,228
2017	4,599
2016	3,299
Prior	6,542
Revolving Loans	5,037
Commercial | Commercial real estate | Reservable criticized
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	10,104
2020	933
2019	2,558
2018	2,115
2017	1,582
2016	606
Prior	1,436
Revolving Loans	874
Commercial | Commercial real estate | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	57,200	59,000
Commercial | Commercial real estate | Non United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	3,200	$ 3,700
Commercial | Commercial Lease Financing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	17,098
2020	3,200
2019	3,359
2018	3,088
2017	2,613
2016	1,791
Prior	3,047
Revolving Loans	0
Commercial | Commercial Lease Financing | Pass rated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	16,384
2020	3,083
2019	3,242
2018	2,956
2017	2,532
2016	1,703
Prior	2,868
Revolving Loans	0
Commercial | Commercial Lease Financing | Reservable criticized
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	714
2020	117
2019	117
2018	132
2017	81
2016	88
Prior	179
Revolving Loans	0
Commercial | U.S. small business commercial | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	29,934
2020	24,615
2019	1,360
2018	1,047
2017	910
2016	640
Prior	1,177
Revolving Loans	185
Commercial | U.S. small business commercial | United States | Pass rated
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	28,786
2020	24,539
2019	1,121
2018	837
2017	735
2016	527
Prior	855
Revolving Loans	172
Commercial | U.S. small business commercial | United States | Reservable criticized
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	1,148
2020	76
2019	239
2018	210
2017	175
2016	113
Prior	322
Revolving Loans	13
Commercial | Small Business Card Loans | Less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	265
Commercial | Small Business Card Loans | Greater than or equal to 620 and less than 680
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	582
Commercial | Small Business Card Loans | Greater than or equal to 680 and less than 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	1,700
Commercial | Small Business Card Loans | Greater than or equal to 740
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	3,900
Commercial | Small Business Card Loans | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	6,500
Commercial | Term Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases (includes $6,681 and $8,335 measured at fair value)	486,584
2020	90,372
2019	69,218
2018	42,473
2017	30,133
2016	16,266
Prior	37,841
Revolving Loans	$ 200,281

Outstanding Loans and Leases_10

Outstanding Loans and Leases and Allowance for Credit Losses - Credit Quality Indicators, Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Commercial reservable criticized utilized exposure, amount	$ 38.7	$ 11.5
Commercial reservable criticized utilized exposure, percent	7.31%	2.09%

Outstanding Loans and Leases_11

Outstanding Loans and Leases and Allowance for Credit Losses - Troubled Debt Restructurings, Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)payment	Dec. 31, 2019USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	$ 927,861	$ 983,426
Consumer real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	34,311
Real estate acquired through foreclosure	123	$ 229
Loans with formal foreclosure proceeding in process	1,200
Reclassified consumer real estate loans	$ 182
Number of missing payments causing default | payment	3
Consumer real estate | Chapter Seven Bankruptcy
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	$ 372
Nonperforming Loans | Consumer real estate | Chapter Seven Bankruptcy | US Government Sponsored-Enterprise Insured Loans | Federal Housing Administration
Financing Receivable, Credit Quality Indicator [Line Items]
Real estate acquired through foreclosure	102
Performing Financial Instruments | Consumer real estate | Chapter Seven Bankruptcy | US Government Sponsored-Enterprise Insured Loans | Federal Housing Administration
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases	$ 68

Outstanding Loans and Leases_12

Outstanding Loans and Leases and Allowance for Credit Losses - Consumer Real Estate - TDRs Entered into During the Period (Details) - Consumer real estate - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 819	$ 605	$ 1,263
Carrying Value	$ 715	$ 478	$ 999
Pre-Modification Interest Rate	3.66%	4.39%	4.38%
Post-Modification Interest Rate	3.59%	4.17%	4.03%
Residential mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 732	$ 464	$ 774
Carrying Value	$ 646	$ 377	$ 641
Pre-Modification Interest Rate	3.66%	4.19%	4.33%
Post-Modification Interest Rate	3.59%	4.13%	4.21%
Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 87	$ 141	$ 489
Carrying Value	$ 69	$ 101	$ 358
Pre-Modification Interest Rate	3.67%	5.04%	4.46%
Post-Modification Interest Rate	3.61%	4.31%	3.74%

Outstanding Loans and Leases_13

Outstanding Loans and Leases and Allowance for Credit Losses - Consumer Real Estate - Modification Programs (Details) - Consumer real estate - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total modifications	$ 715	$ 478	$ 999
Modifications under government programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total modifications	13	35	61
Modifications under proprietary programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total modifications	570	174	523
Loans discharged in Chapter 7 bankruptcy
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total modifications	53	68	130
Trial modifications
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total modifications	$ 79	$ 201	$ 285

Outstanding Loans and Leases_14

Outstanding Loans and Leases and Allowance for Credit Losses - Consumer Real Estate - TDRs Entering Payment Default That Were Modified During the Preceding 12 Months (Details) - Consumer real estate - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings entering payment default that were modified during the preceding twelve months	$ 140	$ 201	$ 368
Modifications under government programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings entering payment default that were modified during the preceding twelve months	16	26	39
Modifications under proprietary programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings entering payment default that were modified during the preceding twelve months	51	88	158
Loans discharged in Chapter 7 bankruptcy
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings entering payment default that were modified during the preceding twelve months	19	30	64
Trial modifications
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings entering payment default that were modified during the preceding twelve months	$ 54	$ 57	$ 107

Outstanding Loans and Leases_15

Outstanding Loans and Leases and Allowance for Credit Losses - Credit Card and Other Consumer - TDRs Entered into During the Period (Details) - Credit card and other consumer - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 321	$ 380	$ 320
Carrying Value	$ 314	$ 376	$ 315
Pre-Modification Interest Rate	16.70%	18.42%	18.45%
Post-Modification Interest Rate	5.65%	5.34%	5.22%
Credit card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 269	$ 340	$ 278
Carrying Value	$ 277	$ 355	$ 292
Pre-Modification Interest Rate	18.16%	19.18%	19.49%
Post-Modification Interest Rate	5.63%	5.35%	5.24%
Direct/indirect consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Unpaid Principal Balance	$ 52	$ 40	$ 42
Carrying Value	$ 37	$ 21	$ 23
Pre-Modification Interest Rate	5.83%	5.23%	5.10%
Post-Modification Interest Rate	5.83%	5.21%	4.95%

Outstanding Loans and Leases_16

Outstanding Loans and Leases and Allowance for Credit Losses - Credit Card and Other Consumer - TDRs Modified by Program Type (Details) - Credit card and other consumer - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying Value	$ 314	$ 376	$ 315
Internal programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying Value	225	247	199
External programs
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying Value	73	108	93
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Carrying Value	$ 16	$ 21	$ 23

Outstanding Loans and Leases_17

Outstanding Loans and Leases and Allowance for Credit Losses - Credit Card and Other Consumer - TDRs Entered into During the Period, Narrative (Details) - Credit card and other consumer	12 Months Ended
	Dec. 31, 2020payment
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of consecutive missed payments	2
Period for payment default after modification	12 months
Credit card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Percent expected to be in payment default within 12 months after modification	13.00%
Direct/indirect consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Percent expected to be in payment default within 12 months after modification	19.00%

Outstanding Loans and Leases_18

Outstanding Loans and Leases and Allowance for Credit Losses - Commercial Loans - Impaired Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
Financing receivable, trouble debt restructuring	$ 1,700	$ 2,200
Loans held-for-sale	9,243	9,158
Proceeds from sales and paydowns of loans originally classified as LHFS	20,100	30,600	$ 29,200
Originations and purchases	19,657	28,874	$ 28,071
Accrued interest receivable	2,400	2,600
Credit card lines
Financing Receivable, Impaired [Line Items]
Interest and fee income reversed	512
Residential mortgage, home equity, direct and indirect consumer and commercial financing receivable | Nonperforming Loans
Financing Receivable, Impaired [Line Items]
Interest and fee income reversed	44
Commercial
Financing Receivable, Impaired [Line Items]
Lending commitments	402	445
Commitments in payment default	$ 218	$ 207

Outstanding Loans and Leases_19

Outstanding Loans and Leases and Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses			$ 20,680	$ 20,680	$ 10,229		$ 10,398
Allowance for loan and lease losses			18,802	18,802	9,416	$ 9,601	9,601	$ 10,393
Reserve for unfunded lending commitments		$ 1,123	1,878	1,878	813	797	797	777
Reserve for unfunded lending commitments, period increase (decrease)				755
Allowance for credit losses, period increase (decrease)				7,200
Loan and leases receivable, allowance, period increase (decrease)				6,400
Outstanding loans and Leases, period increase (decrease), excluding loans accounted for under the fair value option			(53,900)
Scenario, Forecast
Financing Receivable, Allowance for Credit Loss [Line Items]
Unemployment rate, economic outlook	6.50%
Credit card and other consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses			9,213	9,213	3,996		3,874
Allowance for loan and lease losses			9,213	9,213	3,996	3,874	3,874	3,663
Reserve for unfunded lending commitments		0	0	0	0	0	0	0
Loan and leases receivable, allowance, period increase (decrease)				1,800
Consumer real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses			995	995	546		928
Allowance for loan and lease losses			858	858	546	928	928	1,720
Reserve for unfunded lending commitments		119	137	137	0	0	0	0
Loan and leases receivable, allowance, period increase (decrease)				418
Outstanding loans and Leases, period increase (decrease), excluding loans accounted for under the fair value option			(37,100)
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses			10,472	10,472	5,687		5,596
Allowance for loan and lease losses			8,731	8,731	4,874	4,799	4,799	5,010
Reserve for unfunded lending commitments		1,004	$ 1,741	1,741	813	$ 797	$ 797	$ 777
Loan and leases receivable, allowance, period increase (decrease)				$ 4,200
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses		$ 3,300			$ 3,300
Loans and leases receivable, percentage increase in allowance		32.00%
Allowance for loan and lease losses		$ 2,900
Reserve for unfunded lending commitments		310
Cumulative Effect, Period of Adoption, Adjustment | Credit card and other consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan and lease losses		3,100
Cumulative Effect, Period of Adoption, Adjustment | Consumer real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for unfunded lending commitments, period increase (decrease)		119
Cumulative Effect, Period of Adoption, Adjustment | Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for unfunded lending commitments, period increase (decrease)		$ 191

Outstanding Loans and Leases_20

Outstanding Loans and Leases and Allowance for Credit Losses - Allowance by Portfolio Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period		$ 9,601	$ 10,393
Loans and leases charged off	$ (5,419)	(5,646)	(5,402)
Recoveries of loans and leases previously charged off	1,298	1,998	1,639
Net charge-offs	(4,121)	(3,648)	(3,763)
Provision for loan and lease losses	10,565	3,574	3,262
Other	0	(111)	(291)
Allowance for loan and lease losses, end of the period	18,802	9,416	9,601
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Reserve for unfunded lending commitments, beginning balance	1,123	797	777
Provision for unfunded lending commitments	755	16	20
Reserve for unfunded lending commitments, ending balance	1,878	813	797
Allowance for credit losses	20,680	10,229	10,398
Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period		928	1,720
Loans and leases charged off	(98)	(522)	(690)
Recoveries of loans and leases previously charged off	201	927	664
Net charge-offs	103	405	(26)
Provision for loan and lease losses	307	(680)	(492)
Other	8	(107)	(274)
Allowance for loan and lease losses, end of the period	858	546	928
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Reserve for unfunded lending commitments, beginning balance	119	0	0
Provision for unfunded lending commitments	18	0	0
Reserve for unfunded lending commitments, ending balance	137	0	0
Allowance for credit losses	995	546	928
Credit card and other consumer
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period		3,874	3,663
Loans and leases charged off	(3,646)	(4,302)	(4,037)
Recoveries of loans and leases previously charged off	891	911	823
Net charge-offs	(2,755)	(3,391)	(3,214)
Provision for loan and lease losses	4,538	3,512	3,441
Other	0	1	(16)
Allowance for loan and lease losses, end of the period	9,213	3,996	3,874
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Reserve for unfunded lending commitments, beginning balance	0	0	0
Provision for unfunded lending commitments	0	0	0
Reserve for unfunded lending commitments, ending balance	0	0	0
Allowance for credit losses	9,213	3,996	3,874
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period		4,799	5,010
Loans and leases charged off	(1,675)	(822)	(675)
Recoveries of loans and leases previously charged off	206	160	152
Net charge-offs	(1,469)	(662)	(523)
Provision for loan and lease losses	5,720	742	313
Other	(8)	(5)	(1)
Allowance for loan and lease losses, end of the period	8,731	4,874	4,799
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Reserve for unfunded lending commitments, beginning balance	1,004	797	777
Provision for unfunded lending commitments	737	16	20
Reserve for unfunded lending commitments, ending balance	1,741	813	797
Allowance for credit losses	10,472	$ 5,687	$ 5,596
Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period	12,358
Cumulative Effect, Period of Adoption, Adjusted Balance | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period	440
Cumulative Effect, Period of Adoption, Adjusted Balance | Credit card and other consumer
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period	7,430
Cumulative Effect, Period of Adoption, Adjusted Balance | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of the period	$ 4,488

Securitizations and Other Var_3

Securitizations and Other Variable Interest Entities - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Liquidity commitments to unconsolidated securitization trusts	$ 929	$ 1,100

Securitizations and Other Var_4

Securitizations and Other Variable Interest Entities - First Lien Mortgage Securitizations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Mortgage-backed securities, fair value	$ 8,400
Residential Mortgage - Agency
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Proceeds from loan sales	15,823	$ 6,858	$ 5,801
Gains on securitizations	728	27	62
Repurchases from securitization trusts	436	881	1,485
Gain (loss) on loans securitized	160	64	71
Residential Mortgage - Agency | Consumer real estate
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Deconsolidation of securitizations	9,300
Commercial Mortgage
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Proceeds from loan sales	5,084	8,661	6,991
Gains on securitizations	61	103	101
Repurchases from securitization trusts	0	0	0
First Lien Mortgages
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Mortgage loans serviced for investors	160,400	192,100
Servicing fees	474	585	$ 710
Transfers continuing involvement servicing fee advances	2,200	$ 2,400
Other income | Residential Mortgage - Agency
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Gains on securitizations	$ 704

Securitizations and Other Var_5

Securitizations and Other Variable Interest Entities - First Lien Mortgages VIE (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
On-balance sheet assets
Trading account assets	$ 198,854	$ 229,826
Debt securities carried at fair value	246,601	256,467
Held-to-maturity securities	438,279	215,730
Other assets	135,203	129,690
Total assets	2,819,627	2,434,079
Loans and leases	927,861	983,426
Total liabilities	2,546,703	2,169,269
Consolidated VIEs
On-balance sheet assets
Trading account assets	5,225	5,811
Other assets	1,387	540
Total assets	28,555	44,381
Loans and leases	23,636	38,837
Total liabilities	7,523	10,915
Agency | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	13,477	12,554
On-balance sheet assets
Other assets	0	0
Total assets	13,477	12,554
Principal balance outstanding	133,497	160,226
Agency | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	1,328	10,857
On-balance sheet assets
Trading account assets	1,328	780
Other assets	0	161
Total assets	1,328	10,858
Loans and leases	0	9,917
Total liabilities	0	4
Agency | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	152	627
Debt securities carried at fair value	7,588	6,392
Held-to-maturity securities	5,737	5,535
Non-agency | Prime | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	250	340
On-balance sheet assets
Other assets	6	2
Total assets	111	200
Principal balance outstanding	6,081	7,268
Non-agency | Prime | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	66	5
On-balance sheet assets
Trading account assets	350	116
Other assets	0	0
Total assets	350	116
Loans and leases	0	0
Total liabilities	284	111
Non-agency | Prime | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	2	5
Debt securities carried at fair value	103	193
Held-to-maturity securities	0	0
Non-agency | Subprime | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	1,031	1,622
On-balance sheet assets
Other assets	26	49
Total assets	710	1,281
Principal balance outstanding	6,691	8,594
Non-agency | Subprime | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	53	44
On-balance sheet assets
Trading account assets	260	149
Other assets	0	0
Total assets	260	149
Loans and leases	0	0
Total liabilities	207	105
Non-agency | Subprime | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	8	54
Debt securities carried at fair value	676	1,178
Held-to-maturity securities	0	0
Non-agency | Alt-A | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	46	98
On-balance sheet assets
Other assets	1	2
Total assets	46	98
Principal balance outstanding	16,554	19,878
Non-agency | Alt-A | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	0	0
On-balance sheet assets
Trading account assets	0	0
Other assets	0	0
Total assets	0	0
Loans and leases	0	0
Total liabilities	0	0
Non-agency | Alt-A | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	12	24
Debt securities carried at fair value	33	72
Held-to-maturity securities	0	0
Commercial Mortgage
On-balance sheet assets
Debt securities carried at fair value	16,505
Commercial Mortgage | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	1,169	1,036
On-balance sheet assets
Other assets	50	38
Total assets	1,035	912
Principal balance outstanding	59,268	60,129
Commercial Mortgage | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	0	0
On-balance sheet assets
Trading account assets	0	0
Other assets	0	0
Total assets	0	0
Loans and leases	0	0
Total liabilities	0	0
Commercial Mortgage | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	60	65
Debt securities carried at fair value	0	0
Held-to-maturity securities	$ 925	$ 809

Securitizations and Other Var_6

Securitizations and Other Variable Interest Entities - Home Equity Loan, Credit Card and Other Asset-backed VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
On-balance sheet assets
Trading account assets	$ 198,854	$ 229,826
Debt securities carried at fair value	246,601	256,467
Held-to-maturity securities	438,279	215,730
Total assets	2,819,627	2,434,079
Loans and leases	927,861	983,426
Allowance for loan and lease losses (1)	(18,802)	(9,416)	$ (9,601)	$ (9,601)	$ (10,393)
Other assets	135,203	129,690
On-balance sheet liabilities
Long-term debt	262,934	240,856
Total liabilities	2,546,703	2,169,269
Consolidated VIEs
On-balance sheet assets
Trading account assets	5,225	5,811
Total assets	28,555	44,381
Loans and leases	23,636	38,837
Allowance for loan and lease losses (1)	(1,693)	(807)
Other assets	1,387	540
On-balance sheet liabilities
Long-term debt	7,053	8,718
All other liabilities (1)	16	22
Total liabilities	7,523	10,915
Home equity | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	206	412
On-balance sheet assets
Total retained positions	2	11
Total assets	609	1,023
Home equity | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	58	64
On-balance sheet assets
Trading account assets	0	0
Total assets	236	123
Loans and leases	218	122
Allowance for loan and lease losses (1)	14	(2)
Other assets	4	3
On-balance sheet liabilities
Short-term borrowings	0	0
Long-term debt	178	64
All other liabilities (1)	0	0
Total liabilities	178	64
Home equity | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	0	0
Debt securities carried at fair value	2	11
Held-to-maturity securities	0	0
Credit card | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	0	0
On-balance sheet assets
Total retained positions	0	0
Total assets	0	0
Credit card | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	14,606	17,915
On-balance sheet assets
Trading account assets	0	0
Total assets	20,895	26,304
Loans and leases	21,310	26,985
Allowance for loan and lease losses (1)	(1,704)	(800)
Other assets	1,289	119
On-balance sheet liabilities
Short-term borrowings	0	0
Long-term debt	6,273	8,372
All other liabilities (1)	16	17
Total liabilities	6,289	8,389
Residual interests	7,600	10,500
Credit card | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	0	0
Debt securities carried at fair value	0	0
Held-to-maturity securities	0	0
Resecuritization Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	8,543	7,526
On-balance sheet assets
Total retained positions	8,543	7,526
Total assets	17,250	21,234
Resecuritization Trusts | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	217	54
On-balance sheet assets
Trading account assets	217	73
Total assets	217	73
Loans and leases	0	0
Allowance for loan and lease losses (1)	0	0
Other assets	0	0
On-balance sheet liabilities
Short-term borrowings	0	0
Long-term debt	0	19
All other liabilities (1)	0	0
Total liabilities	0	19
Resecuritization Trusts | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	948	2,188
Debt securities carried at fair value	2,727	1,126
Held-to-maturity securities	4,868	4,212
Municipal Bond Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	3,507	3,701
On-balance sheet assets
Total retained positions	0	0
Total assets	4,042	4,395
Municipal Bond Trusts | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	1,030	2,656
On-balance sheet assets
Trading account assets	990	2,480
Total assets	1,030	2,656
Loans and leases	0	0
Allowance for loan and lease losses (1)	0	0
Other assets	40	176
On-balance sheet liabilities
Short-term borrowings	432	2,175
Long-term debt	0	0
All other liabilities (1)	0	0
Total liabilities	432	2,175
Municipal Bond Trusts | Senior securities: | Unconsolidated VIEs
On-balance sheet assets
Trading account assets	0	0
Debt securities carried at fair value	0	0
Held-to-maturity securities	$ 0	$ 0

Securitizations and Other Var_7

Securitizations and Other Variable Interest Entities - Other Asset-backed Securitizations, Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Liquidity commitments to unconsolidated securitization trusts	$ 929	$ 1,100
Held-to-maturity Securities
Variable Interest Entity [Line Items]
Securities received as resecuritization proceeds	1,700
Credit card
Variable Interest Entity [Line Items]
Principal balance outstanding	$ 6,800	$ 7,400
Transferred financial assets, stated interest rate	0.00%	0.00%
Credit card | Senior securities:
Variable Interest Entity [Line Items]
Transferred financial assets, amount	$ 1,000	$ 1,300	$ 4,000
Credit card | Junior Lien
Variable Interest Entity [Line Items]
Transferred financial assets, amount	161	202	650
Resecuritization Trusts
Variable Interest Entity [Line Items]
Cash proceeds from new securitizations	39,000	24,400	22,800
Resecuritization Trusts | Debt securities
Variable Interest Entity [Line Items]
Cash proceeds from new securitizations	6,100	5,200	$ 4,100
Municipal Bond Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Liquidity commitments to unconsolidated securitization trusts	$ 3,500	$ 3,700
Weighted average remaining life of bonds held in the trusts in years	6 years 9 months 18 days
Level 2 | Total trading account assets
Variable Interest Entity [Line Items]
Securities received as resecuritization proceeds	$ 2,400
Level 2 | Debt Securities Carried at Fair Value
Variable Interest Entity [Line Items]
Securities received as resecuritization proceeds	$ 2,100

Securitizations and Other Var_8

Securitizations and Other Variable Interest Entities - Other Variable Interest Entities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
On-balance sheet assets
Trading account assets	$ 198,854	$ 229,826
Debt securities carried at fair value	246,601	256,467
Loans and leases	927,861	983,426
Allowance for loan and lease losses (1)	(18,802)	(9,416)	$ (9,601)	$ (9,601)	$ (10,393)
Other assets	135,203	129,690
Total assets	2,819,627	2,434,079
On-balance sheet liabilities
Long-term debt	262,934	240,856
Total (1)	2,546,703	2,169,269
Consolidated VIEs
On-balance sheet assets
Trading account assets	5,225	5,811
Loans and leases	23,636	38,837
Allowance for loan and lease losses (1)	(1,693)	(807)
Other assets	1,387	540
Total assets	28,555	44,381
On-balance sheet liabilities
Long-term debt	7,053	8,718
All other liabilities (1)	16	22
Total (1)	7,523	10,915
Other Variable Interest Entities
On-balance sheet liabilities
Total assets of VIEs, Unconsolidated	77,984	70,120
Total assets of VIEs	82,223	74,222
Other Variable Interest Entities | Consolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	4,106	4,055
On-balance sheet assets
Trading account assets	2,080	2,213
Debt securities carried at fair value	0	0
Loans and leases	2,108	1,810
Allowance for loan and lease losses (1)	(3)	(2)
Other assets	54	81
Total assets	4,239	4,102
On-balance sheet liabilities
Short-term borrowings	22	0
Long-term debt	111	46
All other liabilities (1)	0	2
Total (1)	133	48
Other Variable Interest Entities | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	23,870	21,069
On-balance sheet assets
Trading account assets	623	549
Debt securities carried at fair value	9	10
Loans and leases	184	533
Allowance for loan and lease losses (1)	(3)	0
Other assets	22,553	19,354
Total assets	23,366	20,446
On-balance sheet liabilities
Short-term borrowings	0	0
Long-term debt	0	0
All other liabilities (1)	5,658	4,896
Total (1)	5,658	4,896
Other Variable Interest Entities | Variable Interest Entity
Variable Interest Entity [Line Items]
Maximum loss exposure	27,976	25,124
On-balance sheet assets
Trading account assets	2,703	2,762
Debt securities carried at fair value	9	10
Loans and leases	2,292	2,343
Allowance for loan and lease losses (1)	(6)	(2)
Other assets	22,607	19,435
Total assets	27,605	24,548
On-balance sheet liabilities
Short-term borrowings	22	0
Long-term debt	111	46
All other liabilities (1)	5,658	4,898
Total (1)	$ 5,791	$ 4,944

Securitizations and Other Var_9

Securitizations and Other Variable Interest Entities - Other Variable Interest Entities, Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Total assets	$ 2,819,627	$ 2,434,079
Consolidated VIEs
Variable Interest Entity [Line Items]
Total assets	28,555	44,381
Customer Vehicles
Variable Interest Entity [Line Items]
Maximum loss exposure	2,300	2,200
Collateralized Debt Obligations
Variable Interest Entity [Line Items]
Maximum loss exposure	298	304
Investment Vehicles
Variable Interest Entity [Line Items]
Maximum loss exposure	1,500	1,600
Investment Vehicles | Consolidated VIEs
Variable Interest Entity [Line Items]
Total assets	494	104
Investment Vehicles | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Total assets	5,400	5,100
Leveraged Lease Trusts | Consolidated VIEs
Variable Interest Entity [Line Items]
Total assets	1,700	1,700
Tax Credit Vehicles
Investments in Affordable Housing Projects [Abstract]
Unfunded commitments	$ 5,000	4,300
Unfunded commitment payment period	5 years
Tax credits and other benefits	$ 1,200	1,000	$ 981
Expected tax benefits recognized, as a percentage	25.00%
Tax Credit Vehicles | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Maximum loss exposure	$ 22,000	18,900
Tax Credit Vehicles | Other income
Investments in Affordable Housing Projects [Abstract]
Pretax losses	1,000	882	$ 798
Tax Credit Vehicles | Other assets
Investments in Affordable Housing Projects [Abstract]
Investments in affordable housing project investments	$ 11,200	$ 10,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Total goodwill	$ 68,951	$ 68,951
Operating Segments | Consumer Banking
Goodwill [Line Items]
Total goodwill	30,123	30,123
Operating Segments | Global Wealth & Investment Management
Goodwill [Line Items]
Total goodwill	9,677	9,677
Operating Segments | Global Banking
Goodwill [Line Items]
Total goodwill	23,923	23,923
Operating Segments | Global Markets
Goodwill [Line Items]
Total goodwill	5,182	5,182
All Other
Goodwill [Line Items]
Total goodwill	$ 46	$ 46

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss	$ 0
Finite-lived intangible assets, net	2,200,000,000	$ 1,700,000,000
Amortization of intangibles	95,000,000	112,000,000	$ 538,000,000
Merchant Contracts
Finite-Lived Intangible Assets [Line Items]
Intangible asset recognition	$ 585,000,000
Amortization period	10 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net (excluding goodwill)	$ 1,600,000,000	$ 1,600,000,000

Leases - Lessor Arrangements (D

Leases - Lessor Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Lease receivables	$ 17,627	$ 19,312
Unguaranteed residuals	2,303	2,550
Total net investment in sales-type and direct financing leases	19,930	21,862
Unguaranteed residual asset with third-party residual value insurance	$ 6,900	$ 5,800

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Sales-type and direct financing leases	$ 707	$ 797
Operating leases	931	891
Total lease income	$ 1,638	$ 1,688

Leases - Lease Cost and Supplem

Leases - Lease Cost and Supplemental Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use asset	$ 10,000	$ 9,735
Lease liabilities	$ 10,474	$ 10,093
Weighted-average discount rate used to calculate present value of future minimum lease payments	3.38%	3.68%
Weighted-average lease term (in years)	8 years 4 months 24 days	8 years 2 months 12 days
Operating lease cost	$ 2,149	$ 2,085
Variable lease cost	474	498
Total lease cost	2,623	2,583
Right-of-use assets obtained in exchange for new operating lease liabilities	851	931
Operating cash flows from operating leases	$ 2,039	$ 2,009
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities	us-gaap:AccruedLiabilitiesAndOtherLiabilities

Leases - Maturity of Lessor and

Leases - Maturity of Lessor and Lessee Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 843
2022	748
2023	630
2024	479
2025	339
Thereafter	886
Total undiscounted cash flows	3,925
Lessor, Lease, Description [Line Items]
Lessee arrangements that have not yet commenced	885
Sales-type and Direct Financing Leases
2021	5,424
2022	4,934
2023	3,637
2024	2,089
2025	1,143
Thereafter	1,668
Total undiscounted cash flows	18,895
Less: Net present value adjustment	1,268
Total	17,627	$ 19,312
Operating Leases
2021	1,927
2022	1,715
2023	1,454
2024	1,308
2025	1,087
Thereafter	4,609
Total undiscounted cash flows	12,100
Less: Net present value adjustment	1,626
Total	10,474	$ 10,093
Commercial
Sales-type and Direct Financing Leases
Total	12,700
Consumer Portfolio Segment
Sales-type and Direct Financing Leases
Total	$ 4,900

Deposits (Details)

Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Time deposits that met or exceeded the FDIC insurance limit	$ 10,700	$ 15,800
U.S.
Time Deposits [Line Items]
Three Months or Less	12,485
Over Three Months to Twelve Months	10,668
Thereafter	1,445
Total	24,598	39,739
Non-U.S.
Time Deposits [Line Items]
Three Months or Less	8,568
Over Three Months to Twelve Months	1,925
Thereafter	1,432
Total	$ 11,925	$ 13,034

Deposits - Contractual Maturiti

Deposits - Contractual Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
Time Deposits [Line Items]
Due in 2021	$ 50,661
Due in 2022	2,771
Due in 2023	435
Due in 2024	227
Due in 2025	199
Thereafter	1,563
Total time deposits	55,856
U.S.
Time Deposits [Line Items]
Due in 2021	40,052
Due in 2022	2,604
Due in 2023	431
Due in 2024	222
Due in 2025	186
Thereafter	276
Total time deposits	43,771
Non-U.S.
Time Deposits [Line Items]
Due in 2021	10,609
Due in 2022	167
Due in 2023	4
Due in 2024	5
Due in 2025	13
Thereafter	1,287
Total time deposits	$ 12,085

Federal Funds Sold or Purchas_3

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Schedule (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Federal funds purchased and securities loaned or sold under agreements to repurchase
Amount
Average during year	$ 192,479	$ 201,797
Maximum month-end balance during year	$ 206,493	$ 203,063
Rate
Average during year	0.69%	2.31%
Short-term borrowings
Amount
Average during year	$ 22,486	$ 24,301
Maximum month-end balance during year	$ 30,118	$ 36,538
Rate
Average during year	0.54%	2.42%
Federal funds sold and securities borrowed or purchased under agreements to resell
Amount
Average during year	$ 309,945	$ 279,610
Maximum month-end balance during year	$ 451,179	$ 281,684
Rate
Average during year	0.29%	1.73%

Federal Funds Sold or Purchas_4

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Additional Information (Details) - Bank of America, N.A. - Subsidiaries - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Registration statement, minimum maturity period	7 days
Registration statement, short-term debt outstanding under program	$ 3.9	$ 11.7
Bank Notes
Debt Instrument [Line Items]
Registration statement, authorized	$ 75

Federal Funds Sold or Purchas_5

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Securities Financing Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Securities borrowed or purchased under agreements to resell
Gross Assets	$ 492,387	$ 434,257
Amounts Offset	(188,329)	(159,660)
Net Balance Sheet Amount	304,058	274,597
Financial Instruments	(272,351)	(244,486)
Net Assets	31,707	30,111
Securities loaned or sold under agreements to repurchase
Gross Liabilities	358,652	324,769
Amounts Offset	(188,329)	(159,660)
Net Balance Sheet Amount	170,323	165,109
Financial Instruments	(158,867)	(141,482)
Net Liabilities	11,456	23,627
Other
Gross Liabilities	16,210	15,346
Amounts Offset	0	0
Net Balance Sheet Amount	16,210	15,346
Financial Instruments	(16,210)	(15,346)
Net Liabilities	0	0
Total Securities Financing Agreements Liability
Gross Liabilities	374,862	340,115
Amounts Offset	(188,329)	(159,660)
Net Balance Sheet Amount	186,533	180,455
Financial Instruments	(175,077)	(156,828)
Net Liabilities	11,456	23,627
Loans and leases repurchase activity	$ 14,700	$ 12,900

Federal Funds Sold or Purchas_6

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Remaining Contractual Maturity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)agreement	Dec. 31, 2019USD ($)agreement
Remaining Contractual Maturity
Securities sold under agreements to repurchase	$ 335,681	$ 299,384
Securities loaned	22,971	25,385
Other	16,210	15,346
Total	$ 374,862	$ 340,115
Number of contractual agreements | agreement	0	0
Maximum agreement maturity period (less than)	3 years	3 years
Overnight and Continuous
Remaining Contractual Maturity
Securities sold under agreements to repurchase	$ 158,400	$ 129,455
Securities loaned	19,140	18,766
Other	16,210	15,346
Total	193,750	163,567
30 Days or Less
Remaining Contractual Maturity
Securities sold under agreements to repurchase	122,448	122,685
Securities loaned	271	3,329
Other	0	0
Total	122,719	126,014
After 30 Days Through 90 Days
Remaining Contractual Maturity
Securities sold under agreements to repurchase	32,149	25,322
Securities loaned	1,029	1,241
Other	0	0
Total	33,178	26,563
Greater than 90 Days
Remaining Contractual Maturity
Securities sold under agreements to repurchase	22,684	21,922
Securities loaned	2,531	2,049
Other	0	0
Total	$ 25,215	$ 23,971

Federal Funds Sold or Purchas_7

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Class of Collateral Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	$ 335,681	$ 299,384
Securities Loaned	22,971	25,385
Other	16,210	15,346
Total	374,862	340,115
U.S. government and agency securities
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	195,167	173,533
Securities Loaned	5	1
Other	0	0
Total	195,172	173,534
Corporate securities, trading loans and other
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	8,633	10,467
Securities Loaned	1,628	2,014
Other	1,217	258
Total	11,478	12,739
Equity securities
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	14,752	14,933
Securities Loaned	21,125	20,026
Other	14,931	15,024
Total	50,808	49,983
Non-U.S. sovereign debt
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	113,142	96,576
Securities Loaned	213	3,344
Other	62	64
Total	113,417	99,984
Mortgage trading loans and ABS
Class of Collateral Pledged
Securities Sold Under Agreements to Repurchase	3,987	3,875
Securities Loaned	0	0
Other	0	0
Total	$ 3,987	$ 3,875

Federal Funds Sold or Purchas_8

Federal Funds Sold or Purchased, Securities Financing Agreements, Short-term Borrowings and Restricted Cash - Restricted Cash (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings [Abstract]
Restricted cash	$ 7	$ 24.4

Long-term Debt - Balances (Deta

Long-term Debt - Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 262,934	$ 240,856
Bank of America Corporation
Debt Instrument [Line Items]
Long-term debt	233,081	199,909
Subsidiaries
Debt Instrument [Line Items]
Long-term debt	17,558	20,789
Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	12,295	20,158
Senior notes: | Bank of America Corporation
Debt Instrument [Line Items]
Long-term debt	$ 191,173
Senior notes: | Bank of America Corporation | Fixed
Debt Instrument [Line Items]
Weighted-average Rate	3.05%
Long-term debt	$ 174,385	140,265
Senior notes: | Bank of America Corporation | Floating
Debt Instrument [Line Items]
Weighted-average Rate	0.74%
Long-term debt	$ 16,788	19,552
Senior notes: | Bank of America Corporation | Minimum | Fixed
Debt Instrument [Line Items]
Interest Rates	0.25%
Senior notes: | Bank of America Corporation | Minimum | Floating
Debt Instrument [Line Items]
Interest Rates	0.09%
Senior notes: | Bank of America Corporation | Maximum | Fixed
Debt Instrument [Line Items]
Interest Rates	8.05%
Senior notes: | Bank of America Corporation | Maximum | Floating
Debt Instrument [Line Items]
Interest Rates	4.96%
Senior notes: | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	$ 2,834
Senior notes: | Subsidiaries | Bank of America, N.A. | Fixed
Debt Instrument [Line Items]
Weighted-average Rate	3.34%
Interest Rates	3.34%
Long-term debt	$ 511	508
Senior notes: | Subsidiaries | Bank of America, N.A. | Floating
Debt Instrument [Line Items]
Weighted-average Rate	0.33%
Long-term debt	$ 2,323	6,519
Senior notes: | Subsidiaries | Bank of America, N.A. | Minimum | Floating
Debt Instrument [Line Items]
Interest Rates	0.28%
Senior notes: | Subsidiaries | Bank of America, N.A. | Maximum | Floating
Debt Instrument [Line Items]
Interest Rates	0.49%
Senior structured notes | Bank of America Corporation
Debt Instrument [Line Items]
Long-term debt	$ 17,033	16,941
Subordinated notes: | Bank of America Corporation
Debt Instrument [Line Items]
Long-term debt	$ 24,136
Subordinated notes: | Bank of America Corporation | Fixed
Debt Instrument [Line Items]
Weighted-average Rate	4.89%
Long-term debt	$ 23,337	21,632
Subordinated notes: | Bank of America Corporation | Floating
Debt Instrument [Line Items]
Weighted-average Rate	1.15%
Long-term debt	$ 799	782
Subordinated notes: | Bank of America Corporation | Minimum | Fixed
Debt Instrument [Line Items]
Interest Rates	2.94%
Subordinated notes: | Bank of America Corporation | Minimum | Floating
Debt Instrument [Line Items]
Interest Rates	0.88%
Subordinated notes: | Bank of America Corporation | Maximum | Fixed
Debt Instrument [Line Items]
Interest Rates	8.57%
Subordinated notes: | Bank of America Corporation | Maximum | Floating
Debt Instrument [Line Items]
Interest Rates	1.41%
Subordinated notes: | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	$ 1,883
Subordinated notes: | Subsidiaries | Bank of America, N.A. | Subordinated notes
Debt Instrument [Line Items]
Weighted-average Rate	6.00%
Interest Rates	6.00%
Long-term debt	$ 1,883	1,744
Junior subordinated notes: | Bank of America Corporation
Debt Instrument [Line Items]
Long-term debt	$ 739
Junior subordinated notes: | Bank of America Corporation | Fixed
Debt Instrument [Line Items]
Weighted-average Rate	6.71%
Long-term debt	$ 738	736
Junior subordinated notes: | Bank of America Corporation | Floating
Debt Instrument [Line Items]
Weighted-average Rate	1.03%
Interest Rates	1.03%
Long-term debt	$ 1	1
Junior subordinated notes: | Bank of America Corporation | Minimum | Fixed
Debt Instrument [Line Items]
Interest Rates	6.45%
Junior subordinated notes: | Bank of America Corporation | Maximum | Fixed
Debt Instrument [Line Items]
Interest Rates	8.05%
Advances from Federal Home Loan Banks: | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	$ 599
Advances from Federal Home Loan Banks: | Subsidiaries | Bank of America, N.A. | Fixed
Debt Instrument [Line Items]
Weighted-average Rate	0.99%
Long-term debt	$ 599	112
Advances from Federal Home Loan Banks: | Subsidiaries | Bank of America, N.A. | Floating
Debt Instrument [Line Items]
Long-term debt	$ 0	2,500
Advances from Federal Home Loan Banks: | Subsidiaries | Bank of America, N.A. | Minimum | Fixed
Debt Instrument [Line Items]
Interest Rates	0.01%
Advances from Federal Home Loan Banks: | Subsidiaries | Bank of America, N.A. | Maximum | Fixed
Debt Instrument [Line Items]
Interest Rates	7.72%
Securitizations and other BANA VIEs | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	$ 6,296	8,373
Other | Subsidiaries
Debt Instrument [Line Items]
Long-term debt	9	0
Other | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Long-term debt	683	402
Structured liabilities | Subsidiaries
Debt Instrument [Line Items]
Long-term debt	16,792	20,442
Nonbank VIEs | Subsidiaries
Debt Instrument [Line Items]
Long-term debt	$ 757	$ 347

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	$ 57,013	$ 52,420	$ 64,278
Repayments of long-term debt, net of adjustments	47,100	50,600
Long-term debt	262,934	240,856
Bank of America Corporation
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	43,766	29,315	$ 30,708
Repayments of long-term debt, net of adjustments	22,600	21,100
Long-term debt	233,081	199,909
Subsidiaries
Debt Instrument [Line Items]
Repayments of long-term debt, net of adjustments	13,000	9,600
Long-term debt	17,558	20,789
Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Repayments of long-term debt, net of adjustments	11,500	19,900
Long-term debt	12,295	20,158
Consolidated VIEs
Debt Instrument [Line Items]
Long-term debt	7,053	$ 8,718
Financial Guarantee
Debt Instrument [Line Items]
Debt outstanding, unconditionally guaranteed	$ 4,800
Long Term Debt, Excluding Senior Structured Notes
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate	3.02%	3.26%
Fixed Rate Debt
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate	3.29%	3.55%
Floating Rate Debt
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate	0.71%	1.92%
Credit card | Consolidated VIEs
Debt Instrument [Line Items]
Long-term debt	$ 6,273	$ 8,372
Residential mortgage | Consolidated VIEs
Debt Instrument [Line Items]
Long-term debt	491
Home equity | Consolidated VIEs
Debt Instrument [Line Items]
Long-term debt	178	64
Other Variable Interest Entities and Resecuritization Trusts | Consolidated VIEs
Debt Instrument [Line Items]
Long-term debt	111
2020 Long-Term Debt Notes
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	56,900
2020 Long-Term Debt Notes | Bank of America Corporation
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	43,800
2020 Long-Term Debt Notes | Subsidiaries
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	8,300
2020 Long-Term Debt Notes | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	4,800
2019 Long-Term Debt Notes
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		52,500
2019 Long-Term Debt Notes | Bank of America Corporation
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		29,300
2019 Long-Term Debt Notes | Subsidiaries
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		12,300
2019 Long-Term Debt Notes | Subsidiaries | Bank of America, N.A.
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		10,900
Foreign Currency - Dominated Debt
Debt Instrument [Line Items]
Long-term debt	$ 54,600	$ 49,600

Long-term Debt - Long-term Debt

Long-term Debt - Long-term Debt by Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	$ 20,352
2022	22,456
2023	28,368
2024	25,603
2025	22,965
Thereafter	143,190
Total	262,934	$ 240,856
Bank of America Corporation
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	9,728
2022	17,807
2023	24,469
2024	24,948
2025	21,809
Thereafter	134,320
Total	233,081	199,909
Bank of America Corporation | Senior notes:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	8,888
2022	15,380
2023	23,872
2024	21,407
2025	15,723
Thereafter	105,903
Total	191,173
Bank of America Corporation | Senior structured notes
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	469
2022	2,034
2023	597
2024	190
2025	549
Thereafter	13,194
Total	17,033	16,941
Bank of America Corporation | Subordinated notes:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	371
2022	393
2023	0
2024	3,351
2025	5,537
Thereafter	14,484
Total	24,136
Bank of America Corporation | Junior subordinated notes:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	739
Total	739
Subsidiaries
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	4,614
2022	2,414
2023	2,221
2024	655
2025	859
Thereafter	6,795
Total	17,558	20,789
Subsidiaries | Other
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	9
Total	9	0
Subsidiaries | Structured liabilities
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	4,613
2022	2,414
2023	2,221
2024	655
2025	859
Thereafter	6,030
Total	16,792	20,442
Subsidiaries | Non-core/non-bank VIEs
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	1
2022	0
2023	0
2024	0
2025	0
Thereafter	756
Total	757
Subsidiaries | Bank of America, N.A.
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	6,010
2022	2,235
2023	1,678
2024	0
2025	297
Thereafter	2,075
Total	12,295	20,158
Subsidiaries | Bank of America, N.A. | Senior notes:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	1,340
2022	975
2023	511
2024	0
2025	0
Thereafter	8
Total	2,834
Subsidiaries | Bank of America, N.A. | Subordinated notes:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	1,883
Total	1,883
Subsidiaries | Bank of America, N.A. | Advances from Federal Home Loan Banks:
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	502
2022	3
2023	1
2024	0
2025	18
Thereafter	75
Total	599
Subsidiaries | Bank of America, N.A. | Securitizations and other BANA VIEs
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	4,056
2022	1,241
2023	977
2024	0
2025	0
Thereafter	22
Total	6,296	8,373
Subsidiaries | Bank of America, N.A. | Other
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	112
2022	16
2023	189
2024	0
2025	279
Thereafter	87
Total	$ 683	$ 402

Commitments and Contingencies -

Commitments and Contingencies - Credit Extension Commitments Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Legally binding unfunded commitments syndicated	$ 10,500	$ 10,600
Carrying amount credit extension commitments syndicated	1,900	829
Notional amount of credit extension commitments under fair value option	4,000	4,400
Unfunded loan commitments
Other Commitments [Line Items]
Fair value carrying amount, liabilities	$ 99	$ 90

Commitments and Contingencies_2

Commitments and Contingencies - Credit Extension Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Expire in One Year or Less	$ 515,919	$ 497,125
Expire After One Year Through Three Years	187,114	161,714
Expire After Three Years Through Five Years	150,668	183,827
Expire After Five Years	47,267	59,054
Total	900,968	901,720
Legally binding commitments
Other Commitments [Line Items]
Expire in One Year or Less	130,964	121,058
Expire After One Year Through Three Years	187,114	161,714
Expire After Three Years Through Five Years	150,668	183,827
Expire After Five Years	47,267	59,054
Total	516,013	525,653
Loan commitments
Other Commitments [Line Items]
Expire in One Year or Less	109,406	97,454
Expire After One Year Through Three Years	171,887	148,000
Expire After Three Years Through Five Years	139,508	173,699
Expire After Five Years	16,091	24,487
Total	436,892	443,640
Unfunded loan commitment, held as a security
Other Commitments [Line Items]
Total	4,800	5,100
Home equity lines of credit
Other Commitments [Line Items]
Expire in One Year or Less	710	1,137
Expire After One Year Through Three Years	2,992	1,948
Expire After Three Years Through Five Years	8,738	6,351
Expire After Five Years	29,892	34,134
Total	42,332	43,570
Standby letters of credit and financial guarantees
Other Commitments [Line Items]
Expire in One Year or Less	19,962	21,311
Expire After One Year Through Three Years	12,038	11,512
Expire After Three Years Through Five Years	2,397	3,712
Expire After Five Years	1,257	408
Total	35,654	36,943
Standby letters of credit and financial guarantees | Credit Card and Other Consumer
Other Commitments [Line Items]
Total	500	413
Standby letters of credit and financial guarantees | Investment grade
Other Commitments [Line Items]
Total	25,000	27,900
Standby letters of credit and financial guarantees | Non-investment grade
Other Commitments [Line Items]
Total	10,200	8,600
Letters of credit
Other Commitments [Line Items]
Expire in One Year or Less	886	1,156
Expire After One Year Through Three Years	197	254
Expire After Three Years Through Five Years	25	65
Expire After Five Years	27	25
Total	1,135	1,500
Letters of credit | Consolidated VIEs
Other Commitments [Line Items]
Total	1,800	1,400
Credit card lines
Other Commitments [Line Items]
Expire in One Year or Less	384,955	376,067
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	$ 384,955	$ 376,067

Commitments and Contingencies_3

Commitments and Contingencies - Other Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Liquefied Natural Gas Commodities
Loss Contingencies [Line Items]
Other commitments	$ 582	$ 830
Resale and Forward-Dated Resale and Securities Borrowing Agreements
Loss Contingencies [Line Items]
Other commitments	66,500	97,200
Forward-Dated Repurchase and Securities Lending Agreements
Loss Contingencies [Line Items]
Other commitments	32,100	24,900
Auto Loans and Leases
Loss Contingencies [Line Items]
Other commitment, due in next twelve months	$ 3,900	3,300
Other commitment, termination prior notice period	12 months
Residential and Commercial Portfolio Segments | Residential and Commercial Financing Receivable | Loan Purchase Commitments
Loss Contingencies [Line Items]
Other commitments	$ 93	86
Commercial | Loan Purchase Commitments
Loss Contingencies [Line Items]
Other commitments	$ 645	$ 1,100

Commitments and Contingencies_4

Commitments and Contingencies - Other Guarantees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Subsidiary, ownership interest, percentage	100.00%
Claims related to loans in specific private-label securitization groups	$ 8,500		$ 10,700
New purchase claims	89
Claims resolved	2,400
Time-barred repurchase claims resolved	168
Private-Label Securitization Trustees
Loss Contingencies [Line Items]
Claims related to loans in specific private-label securitization groups	2,900		3,700
Merchant Servicing Joint Venture
Loss Contingencies [Line Items]
Equity method investment, ownership percentage		49.00%
Merchant Processing Servicers, Sponsored Entities
Loss Contingencies [Line Items]
Transactions processed by sponsored entities	339,200
Life Insurance Book Value Protection
Loss Contingencies [Line Items]
Notional amount of derivatives	7,100		7,300
Maximum potential exposure	1,100		1,100
FICC Repo Program
Loss Contingencies [Line Items]
Maximum potential exposure	22,500		9,300
Other Guarantee
Loss Contingencies [Line Items]
Maximum potential exposure	8,800		8,700
Representations and Warranties Obligations and Corporate Guarantees
Loss Contingencies [Line Items]
Loss contingency accrual	$ 1,300		$ 1,800

Commitments and Contingencies_5

Commitments and Contingencies - Litigation and Regulatory Matters (Details) - USD ($)	Apr. 07, 2017	Jan. 09, 2017	Jul. 21, 2015	Dec. 30, 2014	Sep. 28, 2010	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Litigation settlement expense						$ 823,000,000	$ 681,000,000
Ambac Countrywide Litigation, Claim One
Loss Contingencies [Line Items]
Loss contingency, damages sought					$ 2,200,000,000
Ambac Countrywide Litigation, Claim Two
Loss Contingencies [Line Items]
Loss contingency, damages sought				$ 600,000,000
Ambac Countrywide Litigation, Claim Four
Loss Contingencies [Line Items]
Loss contingency, damages sought			$ 350,000,000
FDIC Deposit Insurance Assessments | Bank of America, N.A.
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 583,000,000	$ 542,000,000
Minimum
Loss Contingencies [Line Items]
Estimated range of possible loss						0
Maximum
Loss Contingencies [Line Items]
Estimated range of possible loss						$ 1,300,000,000

Shareholders' Equity - Declared

Shareholders' Equity - Declared Quarterly Cash Dividends on Common Stock (Details) - $ / shares	Jan. 19, 2021	Oct. 21, 2020	Jul. 22, 2020	Apr. 22, 2020	Jan. 29, 2020
Subsequent Event [Line Items]
Dividends per share (in dollars per share)		$ 0.18	$ 0.18	$ 0.18	$ 0.18
Subsequent Event
Subsequent Event [Line Items]
Dividends per share (in dollars per share)	$ 0.18

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock Repurchase Summary (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Total purchase price of shares repurchased and retired	$ 7,025	$ 28,144	$ 20,094
Common Stock
Class of Stock [Line Items]
Total number of shares repurchased and retired (in shares)	227	956	676
Total purchase price of shares repurchased and retired	$ 7,025	$ 28,144	$ 20,094
Common Stock | CCAR capital plan repurchases
Class of Stock [Line Items]
Total purchase price of shares repurchased and retired	7,025	25,644	16,754
Common Stock | Other authorized repurchases
Class of Stock [Line Items]
Total purchase price of shares repurchased and retired	$ 0	$ 2,500	$ 3,340

Shareholders' Equity - Common_2

Shareholders' Equity - Common Stock Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common Stock
Cash dividends paid per share (in usd per share)	$ 0.72	$ 0.66	$ 0.54
Common stock repurchased	$ 7,025	$ 28,144	$ 20,094
Common Stock
Common Stock
Common stock repurchased (in shares)	227	956	676
Common stock repurchased	$ 7,025	$ 28,144	$ 20,094
Stock issued (in shares)	66
Shares paid for tax withholding for share based compensation (in shares)	26
Share-based compensation, number of shares authorized (in shares)	513
Common Stock | CCAR capital plan repurchases
Common Stock
Common stock repurchased	$ 7,025	$ 25,644	$ 16,754

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock (Details)	Jan. 29, 2021USD ($)	Jan. 28, 2021USD ($)shares	Oct. 29, 2020USD ($)shares	Jan. 24, 2020USD ($)shares	Dec. 31, 2020USD ($)daysemi-annualPeriodquarterlyPerioddirector$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Preferred stock dividends					$ 1,421,000,000	$ 1,432,000,000	$ 1,451,000,000
Issuance of preferred stock					$ 2,181,000,000	$ 3,643,000,000	$ 4,515,000,000
Preferred stock, par value (in dollars per share) | $ / shares					$ 0.01	$ 0.01
Series MM Preferred Stock
Subsequent Event [Line Items]
Preferred stock issued (in shares) | shares				44,000
Issuance of preferred stock				$ 1,100,000,000
Preferred stock, liquidation preference				$ 25,000
Per annum dividend rate					4.30%
Series Y Preferred Stock
Subsequent Event [Line Items]
Redeemed preferred stock					$ 1,100,000,000
Series CC Preferred Stock
Subsequent Event [Line Items]
Per annum dividend rate					6.20%
Series CC Preferred Stock | Subsequent Event
Subsequent Event [Line Items]
Redeemed preferred stock	$ 1,100,000,000
Series NN Preferred Stock
Subsequent Event [Line Items]
Preferred stock issued (in shares) | shares			44,000
Issuance of preferred stock			$ 1,100,000,000
Preferred stock, liquidation preference			$ 25,000
Per annum dividend rate			4.375%		4.375%
Series PP Preferred Stock | Subsequent Event
Subsequent Event [Line Items]
Preferred stock issued (in shares) | shares		36,000
Issuance of preferred stock		$ 915,000,000
Preferred stock, liquidation preference		$ 25,000
Per annum dividend rate		4.125%
Preferred Stock, Excluding Series B, F, G And T Preferred
Subsequent Event [Line Items]
Number of semi annual periods in arrears (or more) | semi-annualPeriod					3
Number of quarterly periods in arrears (or more) | quarterlyPeriod					6
Number of additional directors to be elected | director					2
Number of semi annual periods for termination (or more) | semi-annualPeriod					2
Number of quarterly periods for termination (or more) | quarterlyPeriod					4
Series L Preferred Stock
Subsequent Event [Line Items]
Per annum dividend rate					7.25%
Preferred stock to be convertible into common shares (in shares) | shares					20
Number of trading days | day					20
Period of consecutive trading days | day					30
Threshold percentage of common stock closing price (exceeds)					130.00%

Shareholders' Equity - Prefer_2

Shareholders' Equity - Preferred Stock Summary (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 29, 2020	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		3,931,440	3,887,440
Issuance costs and certain adjustments		$ (348)
Total		$ 24,510
Series B Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		7,110
Liquidation Preference per Share (in dollars per share)		$ 100
Carrying Value		$ 1
Per Annum Dividend Rate		7.00%
Dividend per Share (in dollars per share)		$ 7
Annual Dividend		$ 0
Series E Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		12,691
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 317
Dividend per Share (in dollars per share)		$ 1.02
Annual Dividend		$ 13
Minimum interest rate per annum		4.00%
Ownership interest in a share of preferred stock		0.10%
Series F Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		1,409
Liquidation Preference per Share (in dollars per share)		$ 100,000
Carrying Value		$ 141
Dividend per Share (in dollars per share)		$ 4,066.67
Annual Dividend		$ 6
Minimum interest rate per annum		4.00%
Series G Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		4,926
Liquidation Preference per Share (in dollars per share)		$ 100,000
Carrying Value		$ 493
Dividend per Share (in dollars per share)		$ 4,066.67
Annual Dividend		$ 20
Minimum interest rate per annum		4.00%
Series L Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		3,080,182
Liquidation Preference per Share (in dollars per share)		$ 1,000
Carrying Value		$ 3,080
Per Annum Dividend Rate		7.25%
Dividend per Share (in dollars per share)		$ 72.50
Annual Dividend		$ 223
Series T Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		354
Liquidation Preference per Share (in dollars per share)		$ 100,000
Carrying Value		$ 35
Per Annum Dividend Rate		6.00%
Dividend per Share (in dollars per share)		$ 6,000
Annual Dividend		$ 2
Series U Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		40,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,000
Per Annum Dividend Rate		5.20%
Dividend per Share (in dollars per share)		$ 52
Annual Dividend		$ 52
Ownership interest in a share of preferred stock		4.00%
Series X Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		80,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 2,000
Per Annum Dividend Rate		6.25%
Dividend per Share (in dollars per share)		$ 62.50
Annual Dividend		$ 125
Ownership interest in a share of preferred stock		4.00%
Series Z Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		56,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,400
Per Annum Dividend Rate		6.50%
Dividend per Share (in dollars per share)		$ 65
Annual Dividend		$ 91
Ownership interest in a share of preferred stock		4.00%
Series AA Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		76,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,900
Per Annum Dividend Rate		6.10%
Dividend per Share (in dollars per share)		$ 61
Annual Dividend		$ 116
Ownership interest in a share of preferred stock		4.00%
Series CC Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		44,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,100
Per Annum Dividend Rate		6.20%
Dividend per Share (in dollars per share)		$ 1.55
Annual Dividend		$ 68
Ownership interest in a share of preferred stock		0.10%
Series DD Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		40,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,000
Per Annum Dividend Rate		6.30%
Dividend per Share (in dollars per share)		$ 63
Annual Dividend		$ 63
Ownership interest in a share of preferred stock		4.00%
Series EE Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		36,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 900
Per Annum Dividend Rate		6.00%
Dividend per Share (in dollars per share)		$ 1.50
Annual Dividend		$ 54
Ownership interest in a share of preferred stock		0.10%
Series FF Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		94,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 2,350
Per Annum Dividend Rate		5.875%
Dividend per Share (in dollars per share)		$ 58.75
Annual Dividend		$ 138
Ownership interest in a share of preferred stock		4.00%
Series GG Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		54,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,350
Per Annum Dividend Rate		6.00%
Dividend per Share (in dollars per share)		$ 1.50
Annual Dividend		$ 81
Ownership interest in a share of preferred stock		0.10%
Series HH Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		34,160
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 854
Per Annum Dividend Rate		5.875%
Dividend per Share (in dollars per share)		$ 1.47
Annual Dividend		$ 50
Ownership interest in a share of preferred stock		0.10%
Series JJ Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		40,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,000
Per Annum Dividend Rate		5.125%
Dividend per Share (in dollars per share)		$ 51.25
Annual Dividend		$ 51
Ownership interest in a share of preferred stock		4.00%
Series KK Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		55,900
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,398
Per Annum Dividend Rate		5.375%
Dividend per Share (in dollars per share)		$ 1.34
Annual Dividend		$ 75
Ownership interest in a share of preferred stock		0.10%
Series LL Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		52,400
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,310
Per Annum Dividend Rate		5.00%
Dividend per Share (in dollars per share)		$ 1.25
Annual Dividend		$ 66
Ownership interest in a share of preferred stock		0.10%
Series MM Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		44,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,100
Per Annum Dividend Rate		4.30%
Dividend per Share (in dollars per share)		$ 43.48
Annual Dividend		$ 48
Ownership interest in a share of preferred stock		4.00%
Series NN Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		44,000
Liquidation Preference per Share (in dollars per share)		$ 25,000
Carrying Value		$ 1,100
Per Annum Dividend Rate	4.375%	4.375%
Dividend per Share (in dollars per share)		$ 0.29
Annual Dividend		$ 13
Ownership interest in a share of preferred stock		0.10%
Series 1 Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		3,275
Liquidation Preference per Share (in dollars per share)		$ 30,000
Carrying Value		$ 98
Dividend per Share (in dollars per share)		$ 0.75
Annual Dividend		$ 3
Minimum interest rate per annum		3.00%
Ownership interest in a share of preferred stock		0.08%
Series 2 Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		9,967
Liquidation Preference per Share (in dollars per share)		$ 30,000
Carrying Value		$ 299
Dividend per Share (in dollars per share)		$ 0.76
Annual Dividend		$ 10
Minimum interest rate per annum		3.00%
Ownership interest in a share of preferred stock		0.08%
Series 4 Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		7,010
Liquidation Preference per Share (in dollars per share)		$ 30,000
Carrying Value		$ 210
Dividend per Share (in dollars per share)		$ 1.02
Annual Dividend		$ 9
Minimum interest rate per annum		4.00%
Ownership interest in a share of preferred stock		0.08%
Series 5 Preferred Stock
Class of Stock [Line Items]
Total Shares Outstanding (in shares)		14,056
Liquidation Preference per Share (in dollars per share)		$ 30,000
Carrying Value		$ 422
Dividend per Share (in dollars per share)		$ 1.02
Annual Dividend		$ 17
Minimum interest rate per annum		4.00%
Ownership interest in a share of preferred stock		0.08%
3-Month London Interbank Offered Rate (LIBOR) | Series E Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.35%
3-Month London Interbank Offered Rate (LIBOR) | Series F Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.40%
3-Month London Interbank Offered Rate (LIBOR) | Series G Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.40%
3-Month London Interbank Offered Rate (LIBOR) | Series U Preferred Stock | June 1, 2023
Class of Stock [Line Items]
Minimum interest rate per annum		3.135%
3-Month London Interbank Offered Rate (LIBOR) | Series X Preferred Stock | September 5, 2024
Class of Stock [Line Items]
Minimum interest rate per annum		3.705%
3-Month London Interbank Offered Rate (LIBOR) | Series Z Preferred Stock | October 23, 2024
Class of Stock [Line Items]
Minimum interest rate per annum		4.174%
3-Month London Interbank Offered Rate (LIBOR) | Series AA Preferred Stock | March 17, 2025
Class of Stock [Line Items]
Minimum interest rate per annum		3.898%
3-Month London Interbank Offered Rate (LIBOR) | Series DD Preferred Stock | March 10, 2026
Class of Stock [Line Items]
Minimum interest rate per annum		4.553%
3-Month London Interbank Offered Rate (LIBOR) | Series FF Preferred Stock | March 25, 2028
Class of Stock [Line Items]
Minimum interest rate per annum		2.931%
3-Month London Interbank Offered Rate (LIBOR) | Series JJ Preferred Stock | June 20, 2024
Class of Stock [Line Items]
Minimum interest rate per annum		3.292%
3-Month London Interbank Offered Rate (LIBOR) | Series 1 Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.75%
3-Month London Interbank Offered Rate (LIBOR) | Series 2 Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.65%
3-Month London Interbank Offered Rate (LIBOR) | Series 4 Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.75%
3-Month London Interbank Offered Rate (LIBOR) | Series 5 Preferred Stock
Class of Stock [Line Items]
Minimum interest rate per annum		0.50%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Change in Accumulated OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 264,810	$ 265,325	$ 267,146
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			0
Cumulative adjustment for hedge accounting change	272,924	264,810	265,325
Net change	4,977	5,578	(3,916)
Ending balance	272,924	264,810	265,325
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(2,406)	165
Cumulative adjustment for hedge accounting change	(2,406)	(2,406)	165
Ending balance		(2,406)	165
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(6,633)	(12,211)	(7,082)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			(1,270)
Cumulative adjustment for hedge accounting change	(1,656)	(12,211)	(12,211)
Ending balance	(1,656)	(6,633)	(12,211)
Accumulated Other Comprehensive Income (Loss) | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			57
Cumulative adjustment for hedge accounting change			57
Debt Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	323	(5,552)	(1,206)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			(393)
Cumulative adjustment for hedge accounting change	5,122	323	(5,552)
Net change	4,799	5,875	(3,953)
Ending balance	5,122	323	(5,552)
Debt Securities | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			0
Cumulative adjustment for hedge accounting change			0
Debit Valuation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,494)	(531)	(1,060)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			(220)
Cumulative adjustment for hedge accounting change	(1,992)	(1,494)	(531)
Net change	(498)	(963)	749
Ending balance	(1,992)	(1,494)	(531)
Debit Valuation Adjustments | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			0
Cumulative adjustment for hedge accounting change			0
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(400)	(1,016)	(831)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			(189)
Cumulative adjustment for hedge accounting change	426	(400)	(1,016)
Net change	826	616	(53)
Ending balance	426	(400)	(1,016)
Derivatives | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			57
Cumulative adjustment for hedge accounting change			57
Employee Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(4,168)	(4,304)	(3,192)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			(707)
Cumulative adjustment for hedge accounting change	(4,266)	(4,168)	(4,304)
Net change	(98)	136	(405)
Ending balance	(4,266)	(4,168)	(4,304)
Employee Benefit Plans | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			0
Cumulative adjustment for hedge accounting change			0
Foreign Currency
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(894)	(808)	(793)
Adoption of accounting standard related to certain tax effects stranded in accumulated other comprehensive income (loss)			239
Cumulative adjustment for hedge accounting change	(946)	(894)	(808)
Net change	(52)	(86)	(254)
Ending balance	$ (946)	$ (894)	(808)
Foreign Currency | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			0
Cumulative adjustment for hedge accounting change			$ 0

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Changes in OCI Components Pre- and After-tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
After- tax
Comprehensive income	$ 22,871	$ 33,008	$ 24,231
Total other comprehensive income (loss)
Pretax
Net change	6,483	7,438	(5,106)
Tax effect
Net change	(1,506)	(1,860)	1,190
After- tax
Comprehensive income	4,977	5,578	(3,916)
Debt Securities
Pretax
Net increase (decrease) in fair value	6,819	8,020	(5,189)
Net realized (gains) losses reclassified into earnings	(411)	(193)	(123)
Net change	6,408	7,827	(5,312)
Tax effect
Net increase (decrease) in fair value	(1,712)	(2,000)	1,329
Net realized (gains) losses reclassified into earnings	103	48	30
Net change	(1,609)	(1,952)	1,359
After- tax
Net increase (decrease) in fair value	5,107	6,020	(3,860)
Net realized (gains) losses reclassified into earnings	(308)	(145)	(93)
Comprehensive income	4,799	5,875	(3,953)
Debit Valuation Adjustments
Pretax
Net increase (decrease) in fair value	(669)	(1,276)	952
Net realized (gains) losses reclassified into earnings	19	18	26
Net change	(650)	(1,258)	978
Tax effect
Net increase (decrease) in fair value	156	289	(224)
Net realized (gains) losses reclassified into earnings	(4)	6	(5)
Net change	152	295	(229)
After- tax
Net increase (decrease) in fair value	(513)	(987)	728
Net realized (gains) losses reclassified into earnings	15	24	21
Comprehensive income	(498)	(963)	749
Derivatives
Pretax
Net increase (decrease) in fair value	1,098	692	(232)
Net realized (gains) losses reclassified into earnings	(6)	106	138
Net change	1,092	798	(94)
Tax effect
Net increase (decrease) in fair value	(268)	(156)	74
Net realized (gains) losses reclassified into earnings	2	(26)	(33)
Net change	(266)	(182)	41
After- tax
Net increase (decrease) in fair value	830	536	(158)
Net realized (gains) losses reclassified into earnings	(4)	80	105
Comprehensive income	826	616	(53)
Derivatives | Net interest income
Pretax
Net realized (gains) losses reclassified into earnings	6	104	165
Tax effect
Net realized (gains) losses reclassified into earnings	(1)	(26)	(40)
After- tax
Net realized (gains) losses reclassified into earnings	5	78	125
Derivatives | Compensation and benefits expense
Pretax
Net realized (gains) losses reclassified into earnings	(12)	2	(27)
Tax effect
Net realized (gains) losses reclassified into earnings	3	0	7
After- tax
Net realized (gains) losses reclassified into earnings	(9)	2	(20)
Employee Benefit Plans
Pretax
Net increase (decrease) in fair value	(381)	41	(703)
Net realized (gains) losses reclassified into earnings	261	150	171
Net change	(115)	194	(521)
Tax effect
Net increase (decrease) in fair value	80	(21)	164
Net realized (gains) losses reclassified into earnings	(63)	(36)	(46)
Net change	17	(58)	116
After- tax
Net increase (decrease) in fair value	(301)	20	(539)
Net realized (gains) losses reclassified into earnings	198	114	125
Comprehensive income	(98)	136	(405)
Settlements, curtailments and other, pretax	5	3	11
Settlements, curtailments and other, tax effect	0	(1)	(2)
Settlements, curtailments and other, after tax	5	2	9
Foreign Currency
Pretax
Net increase (decrease) in fair value	(251)	(13)	(8)
Net realized (gains) losses reclassified into earnings	(1)	(110)	(149)
Net change	(252)	(123)	(157)
Tax effect
Net increase (decrease) in fair value	199	(52)	(195)
Net realized (gains) losses reclassified into earnings	1	89	98
Net change	200	37	(97)
After- tax
Net increase (decrease) in fair value	(52)	(65)	(203)
Net realized (gains) losses reclassified into earnings	0	(21)	(51)
Comprehensive income	$ (52)	$ (86)	$ (254)

Earnings Per Common Share - Bas

Earnings Per Common Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings per common share
Net income	$ 17,894	$ 27,430	$ 28,147
Preferred stock dividends	(1,421)	(1,432)	(1,451)
Net income applicable to common shareholders	$ 16,473	$ 25,998	$ 26,696
Average common shares issued and outstanding (in shares)	8,753.2	9,390.5	10,096.5
Earnings per common share (in dollars per share)	$ 1.88	$ 2.77	$ 2.64
Diluted earnings per common share
Net income applicable to common shareholders	$ 16,473	$ 25,998	$ 26,696
Average common shares issued and outstanding (in shares)	8,753.2	9,390.5	10,096.5
Dilutive potential common shares (in shares)	43.7	52.4	140.4
Total diluted average common shares issued and outstanding (in shares)	8,796.9	9,442.9	10,236.9
Diluted earnings per common share (in dollars per share)	$ 1.87	$ 2.75	$ 2.61

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share (in shares)			4,000,000
Warrant | Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Incremental common shares attributable to dilutive effect of call options and warrants (in shares)		3,000,000	136
Series L Preferred Stock | Convertible Preferred Stock Subject to Mandatory Redemption
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share (in shares)	62	62	62

Regulatory Requirements and R_3

Regulatory Requirements and Restrictions - Schedule of Capital Under Basel 3 (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Regulatory Minimum
G-SIB Surcharge	0.025	0.025
Countercyclical capital buffer	0	0
Bank of America Corporation
Regulatory Minimum
Common equity tier 1 capital ratio	0.095	0.095
Tier 1 capital ratio	0.110	0.110
Total capital ratio	0.130	0.130
Regulatory Minimum
Tier 1 leverage ratio	0.040	0.040
Supplementary leverage ratio	0.050	0.050
Subsidiaries | Bank of America, N.A.
Regulatory Minimum
Common equity tier 1 capital ratio	0.070	0.070
Tier 1 capital ratio	0.085	0.085
Total capital ratio	0.105	0.105
Regulatory Minimum
Tier 1 leverage ratio	0.050	0.050
Supplementary leverage ratio	0.060	0.060
Standardized Approach | Bank of America Corporation
Risk-based capital metrics:
Common equity tier 1 capital	$ 176,660	$ 166,760
Tier 1 capital	200,096	188,492
Total capital	237,936	221,230
Risk-weighted assets	$ 1,480,000	$ 1,493,000
Common equity tier 1 capital ratio	0.119	0.112
Tier 1 capital ratio	0.135	0.126
Total capital ratio	0.161	0.148
Leverage-based metrics:
Adjusted quarterly average assets	$ 2,719,000	$ 2,374,000
Tier 1 leverage ratio	0.074	0.079
Standardized Approach | Subsidiaries | Bank of America, N.A.
Risk-based capital metrics:
Common equity tier 1 capital	$ 164,593	$ 154,626
Tier 1 capital	164,593	154,626
Total capital	181,370	166,567
Risk-weighted assets	$ 1,221,000	$ 1,241,000
Common equity tier 1 capital ratio	0.135	0.125
Tier 1 capital ratio	0.135	0.125
Total capital ratio	0.149	0.134
Leverage-based metrics:
Adjusted quarterly average assets	$ 2,143,000	$ 1,780,000
Tier 1 leverage ratio	0.077	0.087
Advanced Approaches | Bank of America Corporation
Risk-based capital metrics:
Common equity tier 1 capital	$ 176,660	$ 166,760
Tier 1 capital	200,096	188,492
Total capital	227,685	213,098
Risk-weighted assets	$ 1,371,000	$ 1,447,000
Common equity tier 1 capital ratio	0.129	0.115
Tier 1 capital ratio	0.146	0.130
Total capital ratio	0.166	0.147
Leverage-based metrics:
Adjusted quarterly average assets	$ 2,719,000	$ 2,374,000
Tier 1 leverage ratio	0.074	0.079
SLR leverage exposure	$ 2,786,000	$ 2,946,000
Supplementary leverage ratio	0.072	0.064
Advanced Approaches | Subsidiaries | Bank of America, N.A.
Risk-based capital metrics:
Common equity tier 1 capital	$ 164,593	$ 154,626
Tier 1 capital	164,593	154,626
Total capital	170,922	158,665
Risk-weighted assets	$ 1,014,000	$ 991,000
Common equity tier 1 capital ratio	0.162	0.156
Tier 1 capital ratio	0.162	0.156
Total capital ratio	0.169	0.160
Leverage-based metrics:
Adjusted quarterly average assets	$ 2,143,000	$ 1,780,000
Tier 1 leverage ratio	0.077	0.087
SLR leverage exposure	$ 2,525,000	$ 2,177,000
Supplementary leverage ratio	0.065	0.071

Regulatory Requirements and R_4

Regulatory Requirements and Restrictions - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Average daily reserve balance requirements, in excess of vault cash, maintained with the Federal Reserve	$ 3,800	$ 14,600
Cash segregated under other regulations	4,900	6,300
Securities segregated under other regulations	16,800	14,700
Deposits with clearing organizations	$ 10,900	$ 7,600
Bank of America, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Preceding period of net profits for dividends	2 years
Cash dividends allowable to be declared and paid by consolidated subsidiaries to the parent company	$ 10,300
Subsidiaries, Bank of America California, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends allowable to be declared and paid by consolidated subsidiaries to the parent company	198
Subsidiaries, Bank of America California, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Proceeds from dividends received	62
Bank of America, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Proceeds from dividends received	$ 10,300

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Increase (decrease) from change in weighted average discount rates	$ 1,900,000,000	$ 2,200,000,000
Cost recognized	$ 1,200,000,000	$ 1,000,000,000	$ 1,000,000,000
Number of common stock shares held in plan (in shares)	189	189
Dividend payments to the plan	$ 138,000,000	$ 133,000,000	$ 115,000,000
U.S. | Pension Plan | Qualified
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 0	0
Percentage of prior years market gains (losses) recognized at next measurement date	60.00%
Percentage of prior years market gains (losses) recognized equally over four year period	40.00%
U.S. | Pension Plan | Qualified | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Amount of employer and related party securities included in plan assets	$ 274,000,000	$ 315,000,000
Actual plan asset allocations	1.26%	1.55%
U.S. | Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 0	$ 0
U.S. | Other Pension Plan | Nonqualified
Defined Benefit Plan Disclosure [Line Items]
Company contributions	86,000,000	91,000,000
Estimated future employer contributions in next fiscal year	93,000,000
U.S. | Postretirement Health and Life Plans
Defined Benefit Plan Disclosure [Line Items]
Company contributions	6,000,000	24,000,000
Estimated future employer contributions in next fiscal year	$ 14,000,000
Percentage of unrecognized gain (loss) recognized during the period	50.00%
Health care cost trend rate assumed for next fiscal year	6.25%
Ultimate health care cost trend rate	5.00%
Non-U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 23,000,000	$ 20,000,000
Estimated future employer contributions in next fiscal year	$ 29,000,000

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension and Postretirement Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Change in fair value of plan assets
Fair value, January 1	$ 25,836,000,000
Fair value, December 31	27,786,000,000	$ 25,836,000,000
U.S. | Other Pension Plan
Change in fair value of plan assets
Company contributions	0	0
U.S. | Postretirement Health and Life Plans
Change in fair value of plan assets
Fair value, January 1	199,000,000	252,000,000
Actual return on plan assets	1,000,000	5,000,000
Company contributions	6,000,000	24,000,000
Plan participant contributions	110,000,000	103,000,000
Settlements and curtailments	0	0
Benefits paid	(174,000,000)	(185,000,000)
Federal subsidy on benefits paid	1,000,000	0
Fair value, December 31	143,000,000	199,000,000	$ 252,000,000
Change in projected benefit obligation
Projected benefit obligation, January 1	989,000,000	928,000,000
Service cost	5,000,000	5,000,000	6,000,000
Interest cost	32,000,000	38,000,000	36,000,000
Plan participant contributions	110,000,000	103,000,000
Plan amendments	0	0
Settlements and curtailments	0	0
Actuarial loss	43,000,000	99,000,000
Benefits paid	(173,000,000)	(185,000,000)
Federal subsidy on benefits paid	1,000,000	0
Foreign currency exchange rate changes	0	1,000,000
Projected benefit obligation, December 31	1,007,000,000	989,000,000	928,000,000
Amounts recognized on Consolidated Balance Sheet
Other assets				$ 0	$ 0
Accrued expenses and other liabilities				(864,000,000)	(790,000,000)
Net amount recognized, December 31				(864,000,000)	(790,000,000)
Funded status, December 31
Projected benefit obligation	989,000,000	989,000,000	928,000,000	$ 1,007,000,000	$ 989,000,000
Weighted-average assumptions, December 31
Discount rate				2.48%	3.27%
U.S. | Qualified | Pension Plan
Change in fair value of plan assets
Fair value, January 1	20,275,000,000	18,178,000,000
Actual return on plan assets	2,468,000,000	3,187,000,000
Company contributions	0	0
Plan participant contributions	0	0
Settlements and curtailments	0	0
Benefits paid	(967,000,000)	(1,090,000,000)
Fair value, December 31	21,776,000,000	20,275,000,000	18,178,000,000
Change in projected benefit obligation
Projected benefit obligation, January 1	15,361,000,000	14,144,000,000
Service cost	0	0	0
Interest cost	500,000,000	593,000,000	563,000,000
Plan participant contributions	0	0
Plan amendments	0	0
Settlements and curtailments	0	0
Actuarial loss	1,533,000,000	1,714,000,000
Benefits paid	(967,000,000)	(1,090,000,000)
Projected benefit obligation, December 31	16,427,000,000	15,361,000,000	14,144,000,000
Amounts recognized on Consolidated Balance Sheet
Other assets				$ 5,349,000,000	$ 4,914,000,000
Accrued expenses and other liabilities				0	0
Net amount recognized, December 31				5,349,000,000	4,914,000,000
Funded status, December 31
Accumulated benefit obligation				16,427,000,000	15,361,000,000
Overfunded (unfunded) status of ABO				5,349,000,000	4,914,000,000
Provision for future salaries				0	0
Projected benefit obligation	15,361,000,000	15,361,000,000	14,144,000,000	$ 16,427,000,000	$ 15,361,000,000
Weighted-average assumptions, December 31
Discount rate				2.57%	3.32%
Interest-crediting rate				5.02%	5.06%
U.S. | Nonqualified | Other Pension Plan
Change in fair value of plan assets
Fair value, January 1	2,666,000,000	2,584,000,000
Actual return on plan assets	285,000,000	228,000,000
Company contributions	86,000,000	91,000,000
Plan participant contributions	0	0
Settlements and curtailments	0	0
Benefits paid	(248,000,000)	(237,000,000)
Fair value, December 31	2,789,000,000	2,666,000,000	2,584,000,000
Change in projected benefit obligation
Projected benefit obligation, January 1	2,919,000,000	2,779,000,000
Service cost	1,000,000	1,000,000	1,000,000
Interest cost	90,000,000	113,000,000	105,000,000
Plan participant contributions	0	0
Plan amendments	0	0
Settlements and curtailments	0	0
Actuarial loss	243,000,000	263,000,000
Benefits paid	(248,000,000)	(237,000,000)
Projected benefit obligation, December 31	3,005,000,000	2,919,000,000	2,779,000,000
Amounts recognized on Consolidated Balance Sheet
Other assets				$ 812,000,000	$ 733,000,000
Accrued expenses and other liabilities				(1,028,000,000)	(986,000,000)
Net amount recognized, December 31				(216,000,000)	(253,000,000)
Funded status, December 31
Accumulated benefit obligation				3,005,000,000	2,919,000,000
Overfunded (unfunded) status of ABO				(216,000,000)	(253,000,000)
Provision for future salaries				0	0
Projected benefit obligation	3,005,000,000	2,779,000,000	2,779,000,000	$ 3,005,000,000	$ 2,919,000,000
Weighted-average assumptions, December 31
Discount rate				2.33%	3.20%
Rate of compensation increase				4.00%	4.00%
Interest-crediting rate				4.49%	4.52%
Non-U.S. | Pension Plan
Change in fair value of plan assets
Fair value, January 1	2,696,000,000	2,461,000,000
Actual return on plan assets	379,000,000	273,000,000
Company contributions	23,000,000	20,000,000
Plan participant contributions	1,000,000	1,000,000
Settlements and curtailments	(61,000,000)	(42,000,000)
Benefits paid	(57,000,000)	(108,000,000)
Foreign currency exchange rate changes	97,000,000	91,000,000
Fair value, December 31	3,078,000,000	2,696,000,000	2,461,000,000
Change in projected benefit obligation
Projected benefit obligation, January 1	2,887,000,000	2,589,000,000
Service cost	20,000,000	17,000,000	19,000,000
Interest cost	49,000,000	65,000,000	65,000,000
Plan participant contributions	1,000,000	1,000,000
Plan amendments	3,000,000	2,000,000
Settlements and curtailments	(61,000,000)	(42,000,000)
Actuarial loss	396,000,000	288,000,000
Benefits paid	(57,000,000)	(108,000,000)
Foreign currency exchange rate changes	102,000,000	75,000,000
Projected benefit obligation, December 31	3,340,000,000	2,887,000,000	2,589,000,000
Amounts recognized on Consolidated Balance Sheet
Other assets				$ 428,000,000	$ 364,000,000
Accrued expenses and other liabilities				(690,000,000)	(555,000,000)
Net amount recognized, December 31				(262,000,000)	(191,000,000)
Funded status, December 31
Accumulated benefit obligation				3,253,000,000	2,841,000,000
Overfunded (unfunded) status of ABO				(175,000,000)	(145,000,000)
Provision for future salaries				87,000,000	46,000,000
Projected benefit obligation	$ 3,340,000,000	$ 2,589,000,000	$ 2,589,000,000	$ 3,340,000,000	$ 2,887,000,000
Weighted-average assumptions, December 31
Discount rate				1.37%	1.81%
Rate of compensation increase				4.11%	4.10%
Interest-crediting rate				1.58%	1.53%

Employee Benefit Plans - ABO an

Employee Benefit Plans - ABO and PBO in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Non-U.S. | Pension Plan
Plans with PBO and ABO in Excess of Plan Assets
PBO	$ 900	$ 744
ABO	841	720
Fair value of plan assets	211	191
U.S. | Nonqualified | Other Pension Plan
Plans with PBO and ABO in Excess of Plan Assets
PBO	1,028	988
ABO	1,028	988
Fair value of plan assets	$ 1	$ 1

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. | Postretirement Health and Life Plans
Components of net periodic benefit cost (income)
Service cost	$ 5	$ 5	$ 6
Interest cost	32	38	36
Expected return on plan assets	(4)	(5)	(6)
Amortization of net actuarial loss	29	(24)	(27)
Other	(2)	(2)	(3)
Net periodic benefit cost (income)	$ 60	$ 12	$ 6
Weighted-average assumptions used to determine net cost for years ended December 31
Discount rate	3.27%	4.25%	3.58%
Expected return on plan assets	2.00%	2.00%	2.00%
U.S. | Qualified | Pension Plan
Components of net periodic benefit cost (income)
Service cost	$ 0	$ 0	$ 0
Interest cost	500	593	563
Expected return on plan assets	(1,154)	(1,088)	(1,136)
Amortization of net actuarial loss	173	135	147
Other	0	0	0
Net periodic benefit cost (income)	$ (481)	$ (360)	$ (426)
Weighted-average assumptions used to determine net cost for years ended December 31
Discount rate	3.32%	4.32%	3.68%
Expected return on plan assets	6.00%	6.00%	6.00%
U.S. | Nonqualified | Other Pension Plan
Components of net periodic benefit cost (income)
Service cost	$ 1	$ 1	$ 1
Interest cost	90	113	105
Expected return on plan assets	(71)	(95)	(84)
Amortization of net actuarial loss	50	34	43
Other	0	0	0
Net periodic benefit cost (income)	$ 70	$ 53	$ 65
Weighted-average assumptions used to determine net cost for years ended December 31
Discount rate	3.20%	4.26%	3.58%
Expected return on plan assets	2.77%	3.73%	3.19%
Rate of compensation increase	4.00%	4.00%	4.00%
Non-U.S. | Pension Plan
Components of net periodic benefit cost (income)
Service cost	$ 20	$ 17	$ 19
Interest cost	49	65	65
Expected return on plan assets	(66)	(99)	(126)
Amortization of net actuarial loss	9	6	10
Other	8	4	12
Net periodic benefit cost (income)	$ 20	$ (7)	$ (20)
Weighted-average assumptions used to determine net cost for years ended December 31
Discount rate	1.81%	2.60%	2.39%
Expected return on plan assets	2.57%	4.13%	4.37%
Rate of compensation increase	4.10%	4.49%	4.31%

Employee Benefit Plans - Pretax

Employee Benefit Plans - Pretax Amounts Included in Accumulated OCI (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 5,593	$ 5,480
Prior service cost (credits)	14	12
Amounts recognized in accumulated OCI	5,607	5,492
U.S. | Postretirement Health and Life Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	66	48
Prior service cost (credits)	(4)	(6)
Amounts recognized in accumulated OCI	62	42
Non-U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	628	559
Prior service cost (credits)	18	18
Amounts recognized in accumulated OCI	646	577
Qualified | U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	3,912	3,865
Prior service cost (credits)	0	0
Amounts recognized in accumulated OCI	3,912	3,865
Nonqualified | U.S. | Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	987	1,008
Prior service cost (credits)	0	0
Amounts recognized in accumulated OCI	$ 987	$ 1,008

Employee Benefit Plans - Pret_2

Employee Benefit Plans - Pretax Amounts Recognized in OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax [Abstract]
Current year actuarial loss (gain)	$ 374	$ (46)
Amortization of actuarial gain (loss) and prior service cost	(262)	(150)
Current year prior service cost (credit)	3	2
Amounts recognized in OCI	115	(194)
U.S. | Postretirement Health and Life Plans
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax [Abstract]
Current year actuarial loss (gain)	47	99
Amortization of actuarial gain (loss) and prior service cost	(27)	26
Current year prior service cost (credit)	0	0
Amounts recognized in OCI	20	125
Non-U.S. | Pension Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax [Abstract]
Current year actuarial loss (gain)	79	110
Amortization of actuarial gain (loss) and prior service cost	(12)	(7)
Current year prior service cost (credit)	3	2
Amounts recognized in OCI	70	105
Qualified | U.S. | Pension Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax [Abstract]
Current year actuarial loss (gain)	219	(385)
Amortization of actuarial gain (loss) and prior service cost	(173)	(135)
Current year prior service cost (credit)	0	0
Amounts recognized in OCI	46	(520)
Nonqualified | U.S. | Other Pension Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax [Abstract]
Current year actuarial loss (gain)	29	130
Amortization of actuarial gain (loss) and prior service cost	(50)	(34)
Current year prior service cost (credit)	0	0
Amounts recognized in OCI	$ (21)	$ 96

Employee Benefit Plans - Target

Employee Benefit Plans - Target Allocation (Details)	Dec. 31, 2020
U.S. | Qualified | Minimum | Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	15.00%
U.S. | Qualified | Minimum | Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	45.00%
U.S. | Qualified | Minimum | Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
U.S. | Qualified | Minimum | Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
U.S. | Qualified | Maximum | Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	50.00%
U.S. | Qualified | Maximum | Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	80.00%
U.S. | Qualified | Maximum | Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	10.00%
U.S. | Qualified | Maximum | Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	5.00%
U.S. | Nonqualified | Minimum | Other Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
U.S. | Nonqualified | Minimum | Other Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	95.00%
U.S. | Nonqualified | Minimum | Other Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
U.S. | Nonqualified | Minimum | Other Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
U.S. | Nonqualified | Maximum | Other Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	5.00%
U.S. | Nonqualified | Maximum | Other Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	100.00%
U.S. | Nonqualified | Maximum | Other Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	5.00%
U.S. | Nonqualified | Maximum | Other Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	5.00%
Non-U.S. | Minimum | Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
Non-U.S. | Minimum | Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	40.00%
Non-U.S. | Minimum | Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	0.00%
Non-U.S. | Minimum | Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	10.00%
Non-U.S. | Maximum | Pension Plan | Equity securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	25.00%
Non-U.S. | Maximum | Pension Plan | Debt securities
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	70.00%
Non-U.S. | Maximum | Pension Plan | Real estate
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	15.00%
Non-U.S. | Maximum | Pension Plan | Other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Target allocation, percentage	40.00%

Employee Benefit Plans - Fair V

Employee Benefit Plans - Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 27,786	$ 25,836
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12,865	12,285
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13,197	11,890
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,724	1,661	$ 1,569	$ 1,092
Money market and interest-bearing cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,380	1,426
Money market and interest-bearing cash | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,380	1,426
Money market and interest-bearing cash | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Money market and interest-bearing cash | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalent commingled/mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	383	250
Cash and cash equivalent commingled/mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalent commingled/mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	383	250
Cash and cash equivalent commingled/mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.S. government and agency securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,835	5,301
U.S. government and agency securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,590	4,403
U.S. government and agency securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,238	890
U.S. government and agency securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7	8	9	9
Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,021	3,676
Corporate debt securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate debt securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,021	3,676
Corporate debt securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Asset-backed securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,967	2,684
Asset-backed securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Asset-backed securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,967	2,684
Asset-backed securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-U.S. debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,143	1,763
Non-U.S. debt securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,021	748
Non-U.S. debt securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,122	1,015
Non-U.S. debt securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income commingled/mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,543	2,243
Fixed income commingled/mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,224	804
Fixed income commingled/mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,319	1,439
Fixed income commingled/mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common and preferred equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,438	4,655
Common and preferred equity securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,438	4,655
Common and preferred equity securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Common and preferred equity securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity commingled/mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,676	1,502
Equity commingled/mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	134	147
Equity commingled/mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,542	1,355
Equity commingled/mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Public real estate investment trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	73	91
Public real estate investment trusts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	73	91
Public real estate investment trusts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Public real estate investment trusts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Private real estate | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	5	93
Real estate commingled/mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	963	945
Real estate commingled/mutual funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Real estate commingled/mutual funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	18
Real estate commingled/mutual funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	943	927	885	831
Limited partnerships
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	267	263
Limited partnerships | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Limited partnerships | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	184	173
Limited partnerships | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	83	90	82	85
Other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,097	1,037
Other investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5	11
Other investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	401	390
Other investments | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	691	636	$ 588	$ 74
Commodity and Balanced Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	246	233
Insurance Annuity Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	664	614
Other Various Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 187	$ 190

Employee Benefit Plans - Level

Employee Benefit Plans - Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in fair value of plan assets
Fair value, January 1	$ 25,836
Fair value, December 31	27,786	$ 25,836
U.S. government and agency securities
Change in fair value of plan assets
Fair value, January 1	5,301
Fair value, December 31	5,835	5,301
Real estate commingled/mutual funds
Change in fair value of plan assets
Fair value, January 1	945
Fair value, December 31	963	945
Limited partnerships
Change in fair value of plan assets
Fair value, January 1	263
Fair value, December 31	267	263
Other investments
Change in fair value of plan assets
Fair value, January 1	1,037
Fair value, December 31	1,097	1,037
Level 3
Change in fair value of plan assets
Fair value, January 1	1,661	1,569	$ 1,092
Actual Return on Plan Assets Still Held at the Reporting Date	4	39	33
Purchases, Sales and Settlements	59	53	444
Fair value, December 31	1,724	1,661	1,569
Level 3 | U.S. government and agency securities
Change in fair value of plan assets
Fair value, January 1	8	9	9
Actual Return on Plan Assets Still Held at the Reporting Date	0	0	0
Purchases, Sales and Settlements	(1)	(1)	0
Fair value, December 31	7	8	9
Level 3 | Private real estate
Change in fair value of plan assets
Fair value, January 1	0	5	93
Actual Return on Plan Assets Still Held at the Reporting Date		0	(7)
Purchases, Sales and Settlements		(5)	(81)
Fair value, December 31		0	5
Level 3 | Real estate commingled/mutual funds
Change in fair value of plan assets
Fair value, January 1	927	885	831
Actual Return on Plan Assets Still Held at the Reporting Date	(4)	33	52
Purchases, Sales and Settlements	20	9	2
Fair value, December 31	943	927	885
Level 3 | Limited partnerships
Change in fair value of plan assets
Fair value, January 1	90	82	85
Actual Return on Plan Assets Still Held at the Reporting Date	2	0	(12)
Purchases, Sales and Settlements	(9)	8	9
Fair value, December 31	83	90	82
Level 3 | Other investments
Change in fair value of plan assets
Fair value, January 1	636	588	74
Actual Return on Plan Assets Still Held at the Reporting Date	6	6	0
Purchases, Sales and Settlements	49	42	514
Fair value, December 31	$ 691	$ 636	$ 588

Employee Benefit Plans - Projec

Employee Benefit Plans - Projected Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
U.S. | Postretirement Health and Life Plans
Projected Benefit Payments
2021	$ 79
2022	76
2023	74
2024	70
2025	67
2026 - 2030	290
U.S. | Qualified | Pension Plan
Projected Benefit Payments
2021	856
2022	943
2023	939
2024	943
2025	934
2026 - 2030	4,474
U.S. | Nonqualified | Other Pension Plan
Projected Benefit Payments
2021	244
2022	245
2023	229
2024	224
2025	221
2026 - 2030	977
Non-U.S. | Pension Plan
Projected Benefit Payments
2021	127
2022	134
2023	143
2024	135
2025	140
2026 - 2030	$ 675

Stock-based Compensation Plan_2

Stock-based Compensation Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 2,100	$ 2,100	$ 1,800
Tax benefit from compensation expense	505	511	433
Cash used to settle awards	81	84	1,300
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 2,000
Expected period of total unrecognized compensation cost	4 years
Total unrecognized compensation cost, period for recognition	2 years 2 months 12 days
Fair value of vested in period	$ 2,300	$ 2,600	$ 2,300
Cash-settled Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash-settled RSUs outstanding (in shares)	2,000,000
Key Employee Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	600,000,000
Key Employee Equity Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted in period (in shares)	86,000,000	94,000,000
Key Employee Equity Plan, Vesting In One-Third Increments | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted in period (in shares)	61,000,000	71,000,000
Number of vesting installments	3 years
Key Employee Equity Plan, Vesting In One-Third Increments | Restricted Stock Units (RSUs) | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Key Employee Equity Plan, Vesting In One-Third Increments | Restricted Stock Units (RSUs) | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Key Employee Equity Plan, Vesting In One-Third Increments | Restricted Stock Units (RSUs) | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Key Employee Equity Plan, Vesting In One-Fourth Increments | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted in period (in shares)	25,000,000	23,000,000
Number of vesting installments	4 years
Key Employee Equity Plan, Vesting In One-Fourth Increments | Restricted Stock Units (RSUs) | Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Key Employee Equity Plan, Vesting In One-Fourth Increments | Restricted Stock Units (RSUs) | Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Key Employee Equity Plan, Vesting In One-Fourth Increments | Restricted Stock Units (RSUs) | Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Key Employee Equity Plan, Vesting In One-Fourth Increments | Restricted Stock Units (RSUs) | Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%

Stock-based Compensation Plan_3

Stock-based Compensation Plans - Restricted Stock Units (Details) - Stock-settled Restricted Stock and Restricted Stock Units	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares/Units
Outstanding at beginning of period (in shares) | shares	157,909,315
Granted (in shares) | shares	83,604,782
Vested (in shares) | shares	(68,578,284)
Canceled (in shares) | shares	(4,982,584)
Outstanding at end of period (in shares) | shares	167,953,229
Weighted-average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 27.93
Granted (in dollars per share) | $ / shares	33.01
Vested (in dollars per share) | $ / shares	27.38
Canceled (in dollars per share) | $ / shares	30.88
Outstanding at end of period (in dollars per share) | $ / shares	$ 30.60

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current income tax expense
U.S. federal	$ 1,092	$ 1,136	$ 816
U.S. state and local	1,076	901	1,377
Non-U.S.	670	852	1,203
Total current expense	2,838	2,889	3,396
Deferred income tax expense
U.S. federal	(799)	2,001	2,579
U.S. state and local	(233)	223	240
Non-U.S.	(705)	211	222
Total deferred expense	(1,737)	2,435	3,041
Total income tax expense (benefit)	$ 1,101	$ 5,324	$ 6,437

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Jurisdiction	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Tax Disclosure [Line Items]
Unrecognized tax benefits that would impact effective rate	$ 976,000,000	$ 814,000,000	$ 1,600,000,000
Decrease in unrecognized tax benefits, reasonably possible	166,000,000
Penalties and interest expense (benefit)	9,000,000	(19,000,000)	43,000,000
Penalties and interest accrued	$ 130,000,000	147,000,000
Number of jurisdictions for filing income tax returns (more than) | Jurisdiction	100
Retained earnings	$ 22,348,000,000	18,679,000,000
Temporary differences with investments in Non-US subsidiaries	5,000,000,000
Deferred tax liability, temporary differences with investments in Non-US subsidiaries	1,000,000,000
Cumulative Effect, Period of Adoption, Adjustment
Income Tax Disclosure [Line Items]
Retained earnings		760,000,000
Accumulated Other Comprehensive Income (Loss)
Income Tax Disclosure [Line Items]
Other comprehensive income (loss), tax expense (benefit)	1,506,000,000	$ 1,860,000,000	$ (1,190,000,000)
Net operating losses – non-U.S.
Income Tax Disclosure [Line Items]
Valuation Allowance	(441,000,000)
United Kingdom | Net operating losses – non-U.S.
Income Tax Disclosure [Line Items]
Valuation Allowance	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amount
Expected U.S. federal income tax expense	$ 3,989	$ 6,878	$ 7,263
Increase (decrease) in taxes resulting from:
State tax expense, net of federal benefit	728	1,283	1,367
Affordable housing/energy/other credits	(2,869)	(2,365)	(1,888)
Tax law changes	(699)	0	0
Tax-exempt income, including dividends	(346)	(433)	(413)
Share-based compensation	(129)	(225)	(257)
Changes in prior-period UTBs, including interest	(41)	(613)	144
Nondeductible expenses	324	290	302
Rate differential on non-U.S. earnings	218	504	98
Other	(74)	5	(179)
Total income tax expense (benefit)	$ 1,101	$ 5,324	$ 6,437
Percent
Expected U.S. federal income tax expense	21.00%	21.00%	21.00%
Increase (decrease) in taxes resulting from:
State tax expense, net of federal benefit	3.80%	3.90%	4.00%
Affordable housing/energy/other credits	(15.10%)	(7.20%)	(5.50%)
Tax law changes	(3.70%)	0.00%	0.00%
Tax-exempt income, including dividends	(1.80%)	(1.30%)	(1.20%)
Share-based compensation	(0.70%)	(0.70%)	(0.70%)
Changes in prior-period UTBs, including interest	(0.20%)	(1.90%)	0.40%
Nondeductible expenses	1.70%	0.90%	0.90%
Rate differential on non-U.S. earnings	1.10%	1.50%	0.30%
Other	(0.30%)	0.10%	(0.60%)
Total income tax expense (benefit)	5.80%	16.30%	18.60%

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of the Change in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, January 1	$ 1,175	$ 2,197	$ 1,773
Increases related to positions taken during the current year	238	238	395
Increases related to positions taken during prior years	99	401	406
Decreases related to positions taken during prior years	(172)	(1,102)	(371)
Settlements	0	(541)	(6)
Expiration of statute of limitations	0	(18)	0
Balance, December 31	$ 1,340	$ 1,175	$ 2,197

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Net operating loss carryforwards	$ 7,717	$ 7,417
Allowance for credit losses	4,701	2,354
Security, loan and debt valuations	2,571	1,860
Lease liability	2,400	2,321
Employee compensation and retirement benefits	1,582	1,622
Accrued expenses	1,481	1,719
Credit carryforwards	484	183
Other	1,412	1,203
Gross deferred tax assets	22,348	18,679
Valuation allowance	(2,346)	(1,989)
Total deferred tax assets, net of valuation allowance	20,002	16,690
Deferred tax liabilities
Equipment lease financing	3,101	2,933
Right-to-use asset	2,296	2,246
Fixed assets	1,957	1,505
ESG-related tax credit investments	1,930	1,577
Available-for-sale securities	1,701	100
Other	1,570	1,885
Gross deferred tax liabilities	12,555	10,246
Net deferred tax assets	$ 7,447	$ 6,444

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss and Tax Credit Carryforwards (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	$ 7,717,000,000	$ 7,417,000,000
Deferred Tax Asset	484,000,000	$ 183,000,000
Net operating losses before benefit of federal deductions	1,600,000,000
Valuation allowance before considering benefit of federal deductions	733,000,000
Foreign tax credits
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	484,000,000
Valuation Allowance	(484,000,000)
Net Deferred Tax Asset	0
Net operating losses - U.S.
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	36,000,000
Valuation Allowance	0
Net Deferred Tax Asset	36,000,000
Net operating losses – non-U.S.
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	506,000,000
Valuation Allowance	(441,000,000)
Net Deferred Tax Asset	65,000,000
Net operating losses – non-U.S. | United Kingdom
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	5,896,000,000
Valuation Allowance	0
Net Deferred Tax Asset	5,896,000,000
Net operating losses – U.S. states
Tax Credit Carryforward [Line Items]
Deferred Tax Asset	1,279,000,000
Valuation Allowance	(579,000,000)
Net Deferred Tax Asset	$ 700,000,000

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell	$ 108,856	$ 50,364
Trading account assets	198,854	229,826
Derivative assets, gross	434,600	344,800
Derivative assets	47,179	40,485
Total available-for-sale debt securities	234,491	245,639
Other debt securities carried at fair value	12,110	10,828
Loans and leases	6,681	8,335
Loans held-for-sale	1,585	3,709
Other assets	15,718	15,518
Liabilities
Interest-bearing deposits in U.S. offices	481	508
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value	135,391	16,008
Derivative liabilities, gross	434,000	337,100
Derivative liabilities	45,526	38,229
Short-term borrowings	5,874	3,941
Long-term debt	32,200	34,975
U.S. Treasury and agency securities
Assets
Total available-for-sale debt securities	116,380	68,528
Agency
Assets
Total available-for-sale debt securities	61,849	122,528
Agency-collateralized mortgage obligations
Assets
Total available-for-sale debt securities	5,260	4,641
Non-agency residential
Assets
Total available-for-sale debt securities	1,009	1,077
Commercial
Assets
Total available-for-sale debt securities	16,491	15,021
Other taxable securities
Assets
Total available-for-sale debt securities	2,711	3,941
Tax-exempt securities
Assets
Total available-for-sale debt securities	16,774	17,912
Recurring
Assets
Time deposits placed and other short-term investments	1,649	1,000
Federal funds sold and securities borrowed or purchased under agreements to resell	108,856	50,364
Trading account assets	198,854	229,826
Netting adjustments	(387,371)	(304,262)
Derivative assets	47,179	40,485
Total available-for-sale debt securities	234,491	245,639
Other debt securities carried at fair value	12,110	10,828
Loans and leases	6,681	8,335
Loans held-for-sale	1,585	3,709
Other assets	15,718	15,518
Total assets	627,123	605,704
Liabilities
Interest-bearing deposits in U.S. offices	481	508
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value	135,391	16,008
Total trading account liabilities	71,320	83,270
Netting adjustment	(388,481)	(298,918)
Derivative liabilities	45,526	38,229
Short-term borrowings	5,874	3,941
Accrued expenses and other liabilities	16,311	15,434
Long-term debt	32,200	34,975
Total liabilities	307,103	192,365
Mortgage servicing rights	$ 1,000	$ 1,500
Level 3 recurring assets, as a percent of total assets	0.35%	0.42%
Level 3 recurring liabilities, as a percent of total liabilities	0.29%	0.27%
Recurring | U.S. Treasury and agency securities
Assets
Trading account assets	$ 48,270	$ 53,674
Liabilities
Total trading account liabilities	9,564	13,422
Recurring | Corporate securities, trading loans and other
Assets
Trading account assets	24,176	26,733
Liabilities
Total trading account liabilities	5,436	5,493
Recurring | Equity securities
Assets
Trading account assets	67,971	86,455
Liabilities
Total trading account liabilities	42,424	42,294
Recurring | Non-U.S. sovereign debt
Assets
Trading account assets	26,991	28,301
Liabilities
Total trading account liabilities	13,896	22,061
Recurring | U.S. government-sponsored agency guaranteed
Assets
Trading account assets	21,641	24,324
Recurring | Mortgage trading loans, ABS and other MBS
Assets
Trading account assets	9,805	10,339
Recurring | U.S. Treasury and agency securities
Assets
Total available-for-sale debt securities	116,380	68,528
Other debt securities carried at fair value	93	3
Recurring | Agency
Assets
Total available-for-sale debt securities	61,849	122,528
Other debt securities carried at fair value		3,003
Recurring | Agency-collateralized mortgage obligations
Assets
Total available-for-sale debt securities	5,260	4,641
Recurring | Non-agency residential
Assets
Total available-for-sale debt securities	1,009	1,077
Other debt securities carried at fair value	773	1,334
Recurring | Commercial
Assets
Total available-for-sale debt securities	16,491	15,021
Recurring | Non-U.S. securities
Assets
Total available-for-sale debt securities	14,017	11,991
Recurring | Other taxable securities
Assets
Total available-for-sale debt securities	2,711	3,941
Recurring | Tax-exempt securities
Assets
Total available-for-sale debt securities	16,774	17,912
Recurring | Non-U.S. and other securities
Assets
Other debt securities carried at fair value	11,244	6,488
Recurring | US Government-sponsored enterprises debt securities
Assets
Trading account assets	22,200	26,700
Recurring | Securities gegregated for compliance or deposited with clearing organizations
Assets
Trading account assets	16,800	14,700
Recurring | Commodities Investment
Assets
Trading account assets	576
Recurring | Level 1
Assets
Time deposits placed and other short-term investments	1,649	1,000
Federal funds sold and securities borrowed or purchased under agreements to resell	0	0
Trading account assets	87,344	107,079
Derivative assets, gross	15,624	14,079
Total available-for-sale debt securities	115,266	67,332
Other debt securities carried at fair value	2,712	403
Loans and leases	0	0
Loans held-for-sale	0	0
Other assets	9,898	11,782
Total assets	232,493	201,675
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	53,467	62,039
Derivative liabilities, gross	14,907	11,904
Short-term borrowings	0	0
Accrued expenses and other liabilities	12,297	13,927
Long-term debt	0	0
Total liabilities	80,671	87,870
Recurring | Level 1 | U.S. Treasury and agency securities
Assets
Trading account assets	45,219	49,517
Liabilities
Total trading account liabilities	9,425	13,140
Recurring | Level 1 | Corporate securities, trading loans and other
Assets
Trading account assets	0	0
Liabilities
Total trading account liabilities	0	0
Recurring | Level 1 | Equity securities
Assets
Trading account assets	36,372	53,597
Liabilities
Total trading account liabilities	38,189	38,148
Recurring | Level 1 | Non-U.S. sovereign debt
Assets
Trading account assets	5,753	3,965
Liabilities
Total trading account liabilities	5,853	10,751
Recurring | Level 1 | U.S. government-sponsored agency guaranteed
Assets
Trading account assets	0	0
Recurring | Level 1 | Mortgage trading loans, ABS and other MBS
Assets
Trading account assets	0	0
Recurring | Level 1 | U.S. Treasury and agency securities
Assets
Total available-for-sale debt securities	115,266	67,332
Other debt securities carried at fair value	93	3
Recurring | Level 1 | Agency
Assets
Total available-for-sale debt securities	0	0
Other debt securities carried at fair value		0
Recurring | Level 1 | Agency-collateralized mortgage obligations
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 1 | Non-agency residential
Assets
Total available-for-sale debt securities	0	0
Other debt securities carried at fair value	0	0
Recurring | Level 1 | Commercial
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 1 | Non-U.S. securities
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 1 | Other taxable securities
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 1 | Tax-exempt securities
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 1 | Non-U.S. and other securities
Assets
Other debt securities carried at fair value	2,619	400
Recurring | Level 2
Assets
Time deposits placed and other short-term investments	0	0
Federal funds sold and securities borrowed or purchased under agreements to resell	108,856	50,364
Trading account assets	108,130	118,966
Derivative assets, gross	416,175	328,442
Total available-for-sale debt securities	118,582	177,708
Other debt securities carried at fair value	9,131	10,126
Loans and leases	5,964	7,642
Loans held-for-sale	1,349	3,334
Other assets	3,850	1,376
Total assets	772,037	697,958
Liabilities
Interest-bearing deposits in U.S. offices	481	508
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value	135,391	16,008
Total trading account liabilities	17,837	21,214
Derivative liabilities, gross	412,881	320,479
Short-term borrowings	5,874	3,941
Accrued expenses and other liabilities	4,014	1,507
Long-term debt	31,036	33,826
Total liabilities	607,514	397,483
Recurring | Level 2 | U.S. Treasury and agency securities
Assets
Trading account assets	3,051	4,157
Liabilities
Total trading account liabilities	139	282
Recurring | Level 2 | Corporate securities, trading loans and other
Assets
Trading account assets	22,817	25,226
Liabilities
Total trading account liabilities	5,420	5,478
Recurring | Level 2 | Equity securities
Assets
Trading account assets	31,372	32,619
Liabilities
Total trading account liabilities	4,235	4,144
Recurring | Level 2 | Non-U.S. sovereign debt
Assets
Trading account assets	20,884	23,854
Liabilities
Total trading account liabilities	8,043	11,310
Recurring | Level 2 | U.S. government-sponsored agency guaranteed
Assets
Trading account assets	21,566	24,324
Recurring | Level 2 | Mortgage trading loans, ABS and other MBS
Assets
Trading account assets	8,440	8,786
Recurring | Level 2 | U.S. Treasury and agency securities
Assets
Total available-for-sale debt securities	1,114	1,196
Other debt securities carried at fair value	0	0
Recurring | Level 2 | Agency
Assets
Total available-for-sale debt securities	61,849	122,528
Other debt securities carried at fair value		3,003
Recurring | Level 2 | Agency-collateralized mortgage obligations
Assets
Total available-for-sale debt securities	5,260	4,641
Recurring | Level 2 | Non-agency residential
Assets
Total available-for-sale debt securities	631	653
Other debt securities carried at fair value	506	1,035
Recurring | Level 2 | Commercial
Assets
Total available-for-sale debt securities	16,491	15,021
Recurring | Level 2 | Non-U.S. securities
Assets
Total available-for-sale debt securities	13,999	11,989
Recurring | Level 2 | Other taxable securities
Assets
Total available-for-sale debt securities	2,640	3,876
Recurring | Level 2 | Tax-exempt securities
Assets
Total available-for-sale debt securities	16,598	17,804
Recurring | Level 2 | Non-U.S. and other securities
Assets
Other debt securities carried at fair value	8,625	6,088
Recurring | Level 3
Assets
Time deposits placed and other short-term investments	0	0
Federal funds sold and securities borrowed or purchased under agreements to resell	0	0
Trading account assets	3,380	3,781
Derivative assets, gross	2,751	2,226	$ 3,500
Total available-for-sale debt securities	643	599
Other debt securities carried at fair value	267	299
Loans and leases	717	693
Loans held-for-sale	236	375
Other assets	1,970	2,360
Total assets	9,964	10,333
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	16	17
Derivative liabilities, gross	6,219	4,764	$ 4,400
Short-term borrowings	0	0
Accrued expenses and other liabilities	0	0
Long-term debt	1,164	1,149
Total liabilities	7,399	5,930
Mortgage servicing rights	1,033	1,545
Recurring | Level 3 | U.S. Treasury and agency securities
Assets
Trading account assets	0	0
Liabilities
Total trading account liabilities	0	0
Recurring | Level 3 | Corporate securities, trading loans and other
Assets
Trading account assets	1,359	1,507
Liabilities
Total trading account liabilities	16	15
Recurring | Level 3 | Equity securities
Assets
Trading account assets	227	239
Liabilities
Total trading account liabilities	0	2
Recurring | Level 3 | Non-U.S. sovereign debt
Assets
Trading account assets	354	482
Liabilities
Total trading account liabilities	0	0
Recurring | Level 3 | U.S. government-sponsored agency guaranteed
Assets
Trading account assets	75	0
Recurring | Level 3 | Mortgage trading loans, ABS and other MBS
Assets
Trading account assets	1,365	1,553
Recurring | Level 3 | U.S. Treasury and agency securities
Assets
Total available-for-sale debt securities	0	0
Other debt securities carried at fair value	0	0
Recurring | Level 3 | Agency
Assets
Total available-for-sale debt securities	0	0
Other debt securities carried at fair value		0
Recurring | Level 3 | Agency-collateralized mortgage obligations
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 3 | Non-agency residential
Assets
Total available-for-sale debt securities	378	424
Other debt securities carried at fair value	267	299
Recurring | Level 3 | Commercial
Assets
Total available-for-sale debt securities	0	0
Recurring | Level 3 | Non-U.S. securities
Assets
Total available-for-sale debt securities	18	2
Recurring | Level 3 | Other taxable securities
Assets
Total available-for-sale debt securities	71	65
Recurring | Level 3 | Tax-exempt securities
Assets
Total available-for-sale debt securities	176	108
Recurring | Level 3 | Non-U.S. and other securities
Assets
Other debt securities carried at fair value	$ 0	$ 0

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	$ (41)	$ 3	$ (105)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning	(2,538)	(935)	(1,714)
Total realized and unrealized gains (losses) included in Net Income	(235)	(37)	106
Gains (losses) in OCI	0	0	0
Purchases	120	298	531
Sales	(646)	(837)	(1,179)
Issuances	0	0	0
Settlements	(112)	(97)	778
Gross Transfers into Level 3	(235)	147	39
Gross Transfers out of Level 3	178	(1,077)	504
Balance, ending	(3,468)	(2,538)	(935)
Change in unrealized gains/(losses) In net income related to financial instruments still held	(953)	228	(116)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Derivative assets, gross	434,600	344,800
Derivative liabilities, gross	434,000	337,100
Gains (losses) in OCI	(41)	3	(105)
Level 3 | Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Derivative assets, gross	2,751	2,226	3,500
Derivative liabilities, gross	6,219	4,764	4,400
Trading account liabilities – Equity securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized gains/(losses) In net income related to financial instruments still held	0	(2)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	(2)	0
Total realized and unrealized gains (losses) included in Net Income	1	(2)
Gains (losses) in OCI	0	0
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Gross Transfers into Level 3	0	0
Gross Transfers out of Level 3	1	0
Balance, ending	0	(2)	0
Trading account liabilities – Corporate securities and other
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized gains/(losses) In net income related to financial instruments still held	0	0	(7)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	(15)	(18)	(24)
Total realized and unrealized gains (losses) included in Net Income	8	8	11
Gains (losses) in OCI	0	0	0
Purchases	(7)	(1)	9
Sales	(3)	(3)	(12)
Issuances	0	(1)	(2)
Settlements	1	0	0
Gross Transfers into Level 3	0	0	0
Gross Transfers out of Level 3	0	0	0
Balance, ending	(16)	(15)	(18)
Accrued expenses and other liabilities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized gains/(losses) In net income related to financial instruments still held			0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		0	(8)
Total realized and unrealized gains (losses) included in Net Income			0
Gains (losses) in OCI			0
Purchases			0
Sales			0
Issuances			0
Settlements			8
Gross Transfers into Level 3			0
Gross Transfers out of Level 3			0
Balance, ending			0
Long-term debt
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Change in unrealized gains/(losses) In net income related to financial instruments still held	(5)	(55)	95
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	(1,149)	(817)	(1,863)
Total realized and unrealized gains (losses) included in Net Income	(46)	(59)	103
Gains (losses) in OCI	2	(64)	4
Purchases	(104)	0	9
Sales	0	0	0
Issuances	(47)	(40)	(141)
Settlements	218	180	486
Gross Transfers into Level 3	(52)	(350)	(262)
Gross Transfers out of Level 3	14	1	847
Balance, ending	(1,164)	(1,149)	(817)
Transfers into long term debt	1,400
Corporate securities, trading loans and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	1,507	1,558	1,864
Total realized and unrealized gains (losses) included in Net Income	(138)	105	(32)
Gains (losses) in OCI	(1)	0	(1)
Purchases	430	534	436
Sales	(242)	(390)	(403)
Issuances	10	18	5
Settlements	(282)	(578)	(568)
Gross Transfers into Level 3	639	699	804
Gross Transfers out of Level 3	(564)	(439)	(547)
Balance, ending	1,359	1,507	1,558
Change in unrealized gains/(losses) In net income related to financial instruments still held	(102)	29	(117)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	(1)	0	(1)
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	239	276	235
Total realized and unrealized gains (losses) included in Net Income	(43)	(12)	(17)
Gains (losses) in OCI	0	0	0
Purchases	78	38	44
Sales	(53)	(87)	(11)
Issuances	0	0	0
Settlements	(3)	(9)	(4)
Gross Transfers into Level 3	58	79	78
Gross Transfers out of Level 3	(49)	(46)	(49)
Balance, ending	227	239	276
Change in unrealized gains/(losses) In net income related to financial instruments still held	(31)	(18)	(22)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	0	0	0
Non-U.S. sovereign debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	482	465	556
Total realized and unrealized gains (losses) included in Net Income	45	46	47
Gains (losses) in OCI	(46)	(12)	(44)
Purchases	76	1	13
Sales	(61)	0	(57)
Issuances	0	0	0
Settlements	(39)	(51)	(30)
Gross Transfers into Level 3	150	39	117
Gross Transfers out of Level 3	(253)	(6)	(137)
Balance, ending	354	482	465
Change in unrealized gains/(losses) In net income related to financial instruments still held	47	47	48
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	(46)	(12)	(44)
Mortgage trading loans, ABS and other MBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	1,553	1,635	1,498
Total realized and unrealized gains (losses) included in Net Income	(120)	99	148
Gains (losses) in OCI	(3)	(2)	3
Purchases	577	662	585
Sales	(746)	(899)	(910)
Issuances	11	0	0
Settlements	(96)	(175)	(158)
Gross Transfers into Level 3	757	738	705
Gross Transfers out of Level 3	(493)	(505)	(236)
Balance, ending	1,440	1,553	1,635
Change in unrealized gains/(losses) In net income related to financial instruments still held	(92)	26	97
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	(3)	(2)	3
Total trading account assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	3,781	3,934	4,153
Total realized and unrealized gains (losses) included in Net Income	(256)	238	146
Gains (losses) in OCI	(50)	(14)	(42)
Purchases	1,161	1,235	1,078
Sales	(1,102)	(1,376)	(1,381)
Issuances	21	18	5
Settlements	(420)	(813)	(760)
Gross Transfers into Level 3	1,604	1,555	1,704
Gross Transfers out of Level 3	(1,359)	(996)	(969)
Balance, ending	3,380	3,781	3,934
Change in unrealized gains/(losses) In net income related to financial instruments still held	(178)	84	6
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	(50)	(14)	(42)
Non-agency residential MBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	424	597	0
Total realized and unrealized gains (losses) included in Net Income	(2)	13	27
Gains (losses) in OCI	3	64	(33)
Purchases	23	0	0
Sales	(54)	(73)	(71)
Issuances	0	0	0
Settlements	(44)	(40)	(25)
Gross Transfers into Level 3	158	206	774
Gross Transfers out of Level 3	(130)	(343)	(75)
Balance, ending	378	424	597
Change in unrealized gains/(losses) In net income related to financial instruments still held	(2)	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	3	64	(33)
Non-U.S. securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	2	2	25
Total realized and unrealized gains (losses) included in Net Income	1	0	0
Gains (losses) in OCI	0	0	(1)
Purchases	0	0	0
Sales	(1)	0	(10)
Issuances	0	0	0
Settlements	(1)	0	(15)
Gross Transfers into Level 3	17	0	3
Gross Transfers out of Level 3	0	0	0
Balance, ending	18	2	2
Change in unrealized gains/(losses) In net income related to financial instruments still held	1	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	0	0	(1)
Other taxable securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	65	7	509
Total realized and unrealized gains (losses) included in Net Income	0	2	1
Gains (losses) in OCI	0	0	(3)
Purchases	9	0	0
Sales	(4)	0	(23)
Issuances	0	0	0
Settlements	0	(5)	(11)
Gross Transfers into Level 3	1	61	60
Gross Transfers out of Level 3	0	0	(526)
Balance, ending	71	65	7
Change in unrealized gains/(losses) In net income related to financial instruments still held	0	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	0	0	(3)
Tax-exempt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	108	0	469
Total realized and unrealized gains (losses) included in Net Income	(21)	0	0
Gains (losses) in OCI	3	0	0
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	(169)	0	(1)
Gross Transfers into Level 3	265	108	1
Gross Transfers out of Level 3	(10)	0	(469)
Balance, ending	176	108	0
Change in unrealized gains/(losses) In net income related to financial instruments still held	(20)	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	3	0	0
Total AFS debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	599	606	1,003
Total realized and unrealized gains (losses) included in Net Income	(22)	15	28
Gains (losses) in OCI	6	64	(37)
Purchases	32	0	0
Sales	(59)	(73)	(104)
Issuances	0	0	0
Settlements	(214)	(45)	(52)
Gross Transfers into Level 3	441	375	838
Gross Transfers out of Level 3	(140)	(343)	(1,070)
Balance, ending	643	599	606
Change in unrealized gains/(losses) In net income related to financial instruments still held	(21)	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	6	64	(37)
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	299	172	0
Total realized and unrealized gains (losses) included in Net Income	26	36	(18)
Gains (losses) in OCI	0	0	0
Purchases	0	0	0
Sales	(180)	0	(8)
Issuances	0	0	0
Settlements	(24)	(17)	(34)
Gross Transfers into Level 3	190	155	365
Gross Transfers out of Level 3	(44)	(47)	(133)
Balance, ending	267	299	172
Change in unrealized gains/(losses) In net income related to financial instruments still held	3	38	(18)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	0	0	0
Loans and leases
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	693	338	571
Total realized and unrealized gains (losses) included in Net Income	(4)	0	(16)
Gains (losses) in OCI	0	0	0
Purchases	145	230	0
Sales	(76)	(35)	(134)
Issuances	22	217	0
Settlements	(161)	(57)	(83)
Gross Transfers into Level 3	98	0	0
Gross Transfers out of Level 3	0	0	0
Balance, ending	717	693	338
Change in unrealized gains/(losses) In net income related to financial instruments still held	9	(1)	(9)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	0	0	0
Loans held-for-sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	375	542	690
Total realized and unrealized gains (losses) included in Net Income	26	48	44
Gains (losses) in OCI	(28)	(6)	(26)
Purchases	0	12	71
Sales	(489)	(71)	0
Issuances	691	36	1
Settlements	(119)	(245)	(201)
Gross Transfers into Level 3	93	59	23
Gross Transfers out of Level 3	(313)	0	(60)
Balance, ending	236	375	542
Change in unrealized gains/(losses) In net income related to financial instruments still held	(5)	22	31
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	(28)	(6)	(26)
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	2,360	2,932	2,425
Total realized and unrealized gains (losses) included in Net Income	(288)	(81)	414
Gains (losses) in OCI	3	19	(38)
Purchases	178	0	2
Sales	(4)	(10)	(69)
Issuances	224	179	96
Settlements	(506)	(683)	(792)
Gross Transfers into Level 3	5	5	929
Gross Transfers out of Level 3	(2)	(1)	(35)
Balance, ending	1,970	2,360	2,932
Change in unrealized gains/(losses) In net income related to financial instruments still held	(374)	(267)	149
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (losses) in OCI	$ 3	$ 19	$ (38)

Fair Value Measurements - Rec_2

Fair Value Measurements - Recurring Fair Value Inputs (Details)	12 Months Ended
	Dec. 31, 2020USD ($)$ / security$ / MMBTU	Dec. 31, 2019USD ($)$ / security$ / MMBTU
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, primarily auction rate securities	$ 15,718,000,000	$ 15,518,000,000
Long-term debt	(32,200,000,000)	(34,975,000,000)
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, primarily auction rate securities	15,718,000,000	15,518,000,000
MSRs	1,000,000,000	1,500,000,000
Long-term debt	(32,200,000,000)	(34,975,000,000)
Recurring | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets	1,543,000,000	1,407,000,000
Instruments backed by commercial real estate assets	407,000,000	303,000,000
Commercial loans, debt securities and other	3,066,000,000	3,798,000,000
Other assets, primarily auction rate securities	1,970,000,000	2,360,000,000
MSRs	1,033,000,000	1,545,000,000
Long-term debt	(1,164,000,000)	(1,149,000,000)
Net derivative asset (liability)	$ (3,468,000,000)	$ (2,538,000,000)
Recurring | Level 3 | Yield | Minimum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	(0.03)	0
Commercial loans, debt securities and other	0	0.01
Recurring | Level 3 | Yield | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets	0	0
Recurring | Level 3 | Yield | Minimum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0	0.02
Recurring | Level 3 | Yield | Maximum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.25	0.25
Commercial loans, debt securities and other	0.26	0.20
Recurring | Level 3 | Yield | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets	0.25	0.30
Recurring | Level 3 | Yield | Maximum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.11	0.06
Recurring | Level 3 | Yield | Weighted Average | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.06	0.06
Commercial loans, debt securities and other	0.09	0.06
Recurring | Level 3 | Yield | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets	0.04	0.14
Recurring | Level 3 | Yield | Weighted Average | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.09	0.05
Recurring | Level 3 | Prepayment speed | Minimum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.01	0.01
Commercial loans, debt securities and other	0.10	0.10
Recurring | Level 3 | Prepayment speed | Maximum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.56	0.27
Commercial loans, debt securities and other	0.20	0.20
Recurring | Level 3 | Prepayment speed | Weighted Average | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.20	0.17
Commercial loans, debt securities and other	0.14	0.13
Recurring | Level 3 | Default rate | Minimum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0	0
Commercial loans, debt securities and other	0.03	0.03
Recurring | Level 3 | Default rate | Maximum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.03	0.03
Commercial loans, debt securities and other	0.04	0.04
Recurring | Level 3 | Default rate | Weighted Average | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.01	0.01
Commercial loans, debt securities and other	0.04	0.04
Recurring | Level 3 | Loss severity | Minimum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0	0
Commercial loans, debt securities and other	0.35	0.35
Recurring | Level 3 | Loss severity | Maximum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.47	0.47
Commercial loans, debt securities and other	0.40	0.40
Recurring | Level 3 | Loss severity | Weighted Average | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets	0.18	0.14
Commercial loans, debt securities and other	0.38	0.38
Recurring | Level 3 | Price | Minimum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets | $ / security	0	0
Commercial loans, debt securities and other	0	0
Other assets, primarily auction rate securities | $ / security	10	10
Recurring | Level 3 | Price | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets | $ / security	0	0
Recurring | Level 3 | Price | Minimum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / security	0	0
Recurring | Level 3 | Price | Maximum | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets | $ / security	168	160
Commercial loans, debt securities and other	142	142
Other assets, primarily auction rate securities | $ / security	97	100
Recurring | Level 3 | Price | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets | $ / security	100	100
Recurring | Level 3 | Price | Maximum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / security	124	116
Recurring | Level 3 | Price | Weighted Average | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Instruments backed by residential real estate assets | $ / security	110	94
Commercial loans, debt securities and other | $ / security	66	72
Other assets, primarily auction rate securities | $ / security	91	96
Recurring | Level 3 | Price | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
Instruments backed by commercial real estate assets | $ / security	52	55
Recurring | Level 3 | Price | Weighted Average | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / security	86	74
Recurring | Level 3 | Discount rate | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Other assets, primarily auction rate securities	0.08
Recurring | Level 3 | Weighted-average life, fixed rate | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0 years	0 years
Recurring | Level 3 | Weighted-average life, fixed rate | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	13 years	14 years
Recurring | Level 3 | Weighted-average life, fixed rate | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	4 years	5 years
Recurring | Level 3 | Weighted-average life, variable rate | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0 years	0 years
Recurring | Level 3 | Weighted-average life, variable rate | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	10 years	9 years
Recurring | Level 3 | Weighted-average life, variable rate | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	3 years	3 years
Recurring | Level 3 | Option-adjusted spread, fixed rate | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.07	0.07
Recurring | Level 3 | Option-adjusted spread, fixed rate | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.14	0.14
Recurring | Level 3 | Option-adjusted spread, fixed rate | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.09	0.09
Recurring | Level 3 | Option-adjusted spread, variable rate | Minimum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.09	0.09
Recurring | Level 3 | Option-adjusted spread, variable rate | Maximum | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.15	0.15
Recurring | Level 3 | Option-adjusted spread, variable rate | Weighted Average | Discounted cash flow
Fair Value Inputs [Abstract]
MSRs	0.12	0.11
Recurring | Level 3 | Equity correlation | Minimum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.02	0.09
Recurring | Level 3 | Equity correlation | Maximum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	1	1
Recurring | Level 3 | Equity correlation | Weighted Average | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.64	0.63
Recurring | Level 3 | Long-dated equity volatilities | Discounted cash flow, Market comparables
Fair Value Inputs [Abstract]
Commercial loans, debt securities and other	0.77	0.35
Recurring | Level 3 | Long-dated equity volatilities | Minimum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.07	0.04
Recurring | Level 3 | Long-dated equity volatilities | Maximum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.64	1.01
Recurring | Level 3 | Long-dated equity volatilities | Weighted Average | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt	0.32	0.32
Recurring | Level 3 | Natural gas forward price | Minimum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / MMBTU	1	1
Recurring | Level 3 | Natural gas forward price | Maximum | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / MMBTU	4	5
Recurring | Level 3 | Natural gas forward price | Weighted Average | Discounted cash flow, Market comparables, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Long-term debt | $ / MMBTU	3	3
Recurring | Level 3 | Credit derivatives
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net derivative asset (liability)	$ (112,000,000)	$ 13,000,000
Recurring | Level 3 | Credit derivatives | Yield | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.05	0.05
Recurring | Level 3 | Credit derivatives | Prepayment speed | Minimum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.15	0.15
Recurring | Level 3 | Credit derivatives | Prepayment speed | Maximum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	1	1
Recurring | Level 3 | Credit derivatives | Prepayment speed | Weighted Average | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.22	0.22
Recurring | Level 3 | Credit derivatives | Default rate | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.02
Recurring | Level 3 | Credit derivatives | Default rate | Minimum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)		0.01
Recurring | Level 3 | Credit derivatives | Default rate | Maximum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)		0.04
Recurring | Level 3 | Credit derivatives | Default rate | Weighted Average | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)		0.02
Recurring | Level 3 | Credit derivatives | Loss severity | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)		0.35
Recurring | Level 3 | Credit derivatives | Price | Minimum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities) | $ / security	0	0
Recurring | Level 3 | Credit derivatives | Price | Maximum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities) | $ / security	122	104
Recurring | Level 3 | Credit derivatives | Price | Weighted Average | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities) | $ / security	69	73
Recurring | Level 3 | Credit derivatives | Upfront points | Minimum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0	0
Recurring | Level 3 | Credit derivatives | Upfront points | Maximum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.0100	0.0100
Recurring | Level 3 | Credit derivatives | Upfront points | Weighted Average | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.0075	0.0063
Recurring | Level 3 | Credit derivatives | Credit correlation | Minimum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.21
Recurring | Level 3 | Credit derivatives | Credit correlation | Maximum | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.64
Recurring | Level 3 | Credit derivatives | Credit correlation | Weighted Average | Discounted cash flow, Stochastic recovery correlation model
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.57
Recurring | Level 3 | Equity contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net derivative asset (liability)	$ (1,904,000,000)	$ (1,081,000,000)
Recurring | Level 3 | Equity contracts | Equity correlation | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.02	0.09
Recurring | Level 3 | Equity contracts | Equity correlation | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	1	1
Recurring | Level 3 | Equity contracts | Equity correlation | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.64	0.63
Recurring | Level 3 | Equity contracts | Long-dated equity volatilities | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.07	0.04
Recurring | Level 3 | Equity contracts | Long-dated equity volatilities | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.64	1.01
Recurring | Level 3 | Equity contracts | Long-dated equity volatilities | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.32	0.32
Recurring | Level 3 | Commodity contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net derivative asset (liability)	$ (1,426,000,000)	$ (1,357,000,000)
Recurring | Level 3 | Commodity contracts | Natural gas forward price | Minimum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	1	1
Recurring | Level 3 | Commodity contracts | Natural gas forward price | Maximum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	4	5
Recurring | Level 3 | Commodity contracts | Natural gas forward price | Weighted Average | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	3	3
Recurring | Level 3 | Commodity contracts | Correlation | Minimum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.39	0.30
Recurring | Level 3 | Commodity contracts | Correlation | Maximum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.85	0.69
Recurring | Level 3 | Commodity contracts | Correlation | Weighted Average | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.73	0.68
Recurring | Level 3 | Commodity contracts | Volatilities | Minimum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.23	0.14
Recurring | Level 3 | Commodity contracts | Volatilities | Maximum | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.70	0.54
Recurring | Level 3 | Commodity contracts | Volatilities | Weighted Average | Discounted cash flow, Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.39	0.27
Recurring | Level 3 | Interest rate contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net derivative asset (liability)	$ (26,000,000)	$ (113,000,000)
Recurring | Level 3 | Interest rate contracts | Correlation (IR/IR) | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.15	0.15
Recurring | Level 3 | Interest rate contracts | Correlation (IR/IR) | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.96	0.94
Recurring | Level 3 | Interest rate contracts | Correlation (IR/IR) | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.34	0.52
Recurring | Level 3 | Interest rate contracts | Correlation (FX/IR) | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0	0
Recurring | Level 3 | Interest rate contracts | Correlation (FX/IR) | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.46	0.46
Recurring | Level 3 | Interest rate contracts | Correlation (FX/IR) | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.03	0.02
Recurring | Level 3 | Interest rate contracts | Long-dated inflation rates | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	(0.07)	(0.23)
Recurring | Level 3 | Interest rate contracts | Long-dated inflation rates | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.84	0.56
Recurring | Level 3 | Interest rate contracts | Long-dated inflation rates | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.14	0.16
Recurring | Level 3 | Interest rate contracts | Long-dated inflation volatilities | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0	0
Recurring | Level 3 | Interest rate contracts | Long-dated inflation volatilities | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.01	0.01
Recurring | Level 3 | Interest rate contracts | Long-dated inflation volatilities | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.01	0.01
Recurring | Level 3 | Interest rate contracts | Interest rate volatilities | Minimum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0
Recurring | Level 3 | Interest rate contracts | Interest rate volatilities | Maximum | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.02
Recurring | Level 3 | Interest rate contracts | Interest rate volatilities | Weighted Average | Industry standard derivative pricing
Fair Value Inputs [Abstract]
Net derivative assets (liabilities)	0.01
Recurring | Level 3 | Mortgage trading loans, ABS and other MBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets	$ 467,000,000	$ 332,000,000
Instruments backed by commercial real estate assets	43,000,000	85,000,000
Commercial loans, debt securities and other	930,000,000	1,136,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	1,400,000,000	1,600,000,000
Recurring | Level 3 | Loans and leases
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets	431,000,000	281,000,000
Commercial loans, debt securities and other	286,000,000	412,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	717,000,000	693,000,000
Recurring | Level 3 | AFS debt securities – Non-agency residential
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets	378,000,000	491,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	643,000,000	599,000,000
Recurring | Level 3 | Other debt securities carried at fair value – Non-agency residential
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets	267,000,000	299,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	267,000,000	299,000,000
Recurring | Level 3 | Corporate securities, trading loans and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by commercial real estate assets	262,000,000	201,000,000
Commercial loans, debt securities and other	1,097,000,000	1,306,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	1,400,000,000	1,500,000,000
Recurring | Level 3 | AFS debt securities, primarily other taxable securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by commercial real estate assets	89,000,000
Recurring | Level 3 | Loans held-for-sale
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Instruments backed by residential real estate assets		4,000,000
Instruments backed by commercial real estate assets	13,000,000	17,000,000
Commercial loans, debt securities and other	223,000,000	354,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	236,000,000	375,000,000
Recurring | Level 3 | Non-U.S. sovereign debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Commercial loans, debt securities and other	354,000,000	482,000,000
Fair Value Inputs [Abstract]
Loans and securities, fair value	354,000,000	482,000,000
Recurring | Level 3 | Tax-exempt securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Commercial loans, debt securities and other	176,000,000	108,000,000
Recurring | Level 3 | Other assets, primarily auction rate securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, primarily auction rate securities	937,000,000	815,000,000
Recurring | Level 3 | Other Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, primarily auction rate securities	$ 2,000,000,000	$ 2,400,000,000

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring Fair Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Loans held-for-sale	$ 1,585	$ 3,709
Loans and leases	6,681	8,335
Other assets	15,718	15,518
Nonrecurring
Gains (Losses)
Loans held-for-sale	(79)	(14)	$ (18)
Loans and leases	(73)	(81)	(202)
Foreclosed properties	(6)	(9)	(24)
Other assets	(98)	(2,145)	(64)
Loss on loans and leases written down to zero	30	36	$ 83
Nonrecurring | Government Guaranteed Mortgage Loans upon Foreclosure Receivable
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Foreclosed properties	119	260
Nonrecurring | Level 2
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Loans held-for-sale	1,020	53
Loans and leases	0	0
Foreclosed properties	0	0
Other assets	323	178
Nonrecurring | Level 3
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Loans held-for-sale	792	102
Loans and leases	301	257
Foreclosed properties	17	17
Other assets	$ 576	$ 646

Fair Value Measurements - Non_2

Fair Value Measurements - Nonrecurring Fair Value Inputs (Details) $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)$ / security
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measured at fair value	$ 1,585	$ 3,709
Loans and leases, measured at fair value	6,681	8,335
Other assets, measured at fair value	15,718	15,518
Nonrecurring | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measured at fair value	792	102
Loans and leases, measured at fair value	301	257
Other assets, measured at fair value	576	$ 646
Nonrecurring | Level 3 | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measured at fair value	$ 640
Price | Nonrecurring | Level 3 | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	8	85
Price | Nonrecurring | Level 3 | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	99	97
Price | Nonrecurring | Level 3 | Discounted cash flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	95	88
Discount rate | Nonrecurring | Level 3 | Market comparables | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.13	0.13
Discount rate | Nonrecurring | Level 3 | Market comparables | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.59	0.59
Discount rate | Nonrecurring | Level 3 | Market comparables | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.24	0.24
Discount rate | Nonrecurring | Level 3 | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.11
Discount rate | Nonrecurring | Level 3 | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.14
Discount rate | Nonrecurring | Level 3 | Discounted cash flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.12
Costs to sell | Nonrecurring | Level 3 | Market comparables | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.08	0.08
Costs to sell | Nonrecurring | Level 3 | Market comparables | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.26	0.26
Costs to sell | Nonrecurring | Level 3 | Market comparables | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and leases, measurement input	0.09	0.09
Revenue attrition | Nonrecurring | Level 3 | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.02
Revenue attrition | Nonrecurring | Level 3 | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.19
Revenue attrition | Nonrecurring | Level 3 | Discounted cash flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input	0.07
Customer attrition | Nonrecurring | Level 3 | Discounted cash flow | Minimum | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0
Customer attrition | Nonrecurring | Level 3 | Discounted cash flow | Maximum | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0.19
Customer attrition | Nonrecurring | Level 3 | Discounted cash flow | Weighted Average | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0.05
Cost to service | Nonrecurring | Level 3 | Discounted cash flow | Minimum | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0.11
Cost to service | Nonrecurring | Level 3 | Discounted cash flow | Maximum | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0.19
Cost to service | Nonrecurring | Level 3 | Discounted cash flow | Weighted Average | Merchant Servicing Joint Venture
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other assets, measurement input		0.15

Fair Value Option - Elections (

Fair Value Option - Elections (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Federal funds sold and securities borrowed or purchased under agreements to resell
Fair Value Carrying Amount
Assets	$ 108,856	$ 50,364
Contractual Principal Outstanding
Assets	108,811	50,318
Fair Value Carrying Amount Less Unpaid Principal
Assets	45	46
Loans reported as trading account assets
Fair Value Carrying Amount
Assets	7,967	6,989
Contractual Principal Outstanding
Assets	17,372	14,703
Fair Value Carrying Amount Less Unpaid Principal
Assets	(9,405)	(7,714)
Trading inventory – other
Fair Value Carrying Amount
Assets	22,790	19,574
Consumer and commercial loans
Fair Value Carrying Amount
Assets	6,681	8,335
Contractual Principal Outstanding
Assets	6,778	8,372
Fair Value Carrying Amount Less Unpaid Principal
Assets	(97)	(37)
Loans held-for-sale
Fair Value Carrying Amount
Assets	1,585	3,709
Contractual Principal Outstanding
Assets	2,521	4,879
Fair Value Carrying Amount Less Unpaid Principal
Assets	(936)	(1,170)
Other assets
Fair Value Carrying Amount
Assets	200	4
Long-term deposits
Fair Value Carrying Amount
Liabilities	481	508
Contractual Principal Outstanding
Liabilities	448	496
Fair Value Carrying Amount Less Unpaid Principal
Liabilities	33	12
Federal funds purchased and securities loaned or sold under agreements to repurchase
Fair Value Carrying Amount
Liabilities	135,391	16,008
Contractual Principal Outstanding
Liabilities	135,390	16,029
Fair Value Carrying Amount Less Unpaid Principal
Liabilities	1	(21)
Short-term borrowings
Fair Value Carrying Amount
Liabilities	5,874	3,941
Contractual Principal Outstanding
Liabilities	5,178	3,930
Fair Value Carrying Amount Less Unpaid Principal
Liabilities	696	11
Unfunded loan commitments
Fair Value Carrying Amount
Liabilities	99	90
Long-term debt
Fair Value Carrying Amount
Liabilities	32,200	34,975
Contractual Principal Outstanding
Liabilities	33,470	35,730
Fair Value Carrying Amount Less Unpaid Principal
Liabilities	$ (1,270)	$ (755)

Fair Value Option - Gains (Loss

Fair Value Option - Gains (Losses) Relating to Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	$ 995	$ 5,061	$ 3,349
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	107	203	8
Trading inventory – other
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	3,216	5,795	1,750
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	19	104	(475)
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	103	98	25
Short-term borrowings
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(170)	(24)	2
Unfunded loan commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(65)	79	(49)
Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(2,228)	(1,176)	2,064
Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	13	(18)	24
Market making and similar activities
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	1,035	4,977	3,502
Market making and similar activities | 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	107	203	8
Market making and similar activities | Trading inventory – other
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	3,216	5,795	1,750
Market making and similar activities | 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	22	92	(422)
Market making and similar activities | 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	0	0	1
Market making and similar activities | Short-term borrowings
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(170)	(24)	2
Market making and similar activities | 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
Market making and similar activities | Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(2,175)	(1,098)	2,157
Market making and similar activities | Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	35	9	6
Other Income
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(40)	84	(153)
Other Income | 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
Other Income | 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
Other Income | 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	(3)	12	(53)
Other Income | 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	103	98	24
Other Income | 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	0	0
Other Income | Unfunded loan commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(65)	79	(49)
Other Income | Long-term debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	(53)	(78)	(93)
Other Income | Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Gains (Losses) Relating to Assets and Liabilities Accounted for Under the Fair Value Option	$ (22)	$ (27)	$ 18

Fair Value Option - Gains (Lo_2

Fair Value Option - Gains (Losses) Related to Borrower-specific Credit Risk for Assets Accounted for Under the Fair Value Option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans reported as trading account assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option	$ (172)	$ 43	$ 6
Consumer and commercial loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option	(19)	15	(56)
Loans held-for-sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option	(105)	57	(4)
Unfunded loan commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gains (Losses) Related to Borrower-specific Credit Risk for Assets and Liabilities Accounted for Under the Fair Value Option	$ (65)	$ 79	$ (94)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financial assets
Loans held-for-sale	$ 1,585	$ 3,709
Financial liabilities
Long-term debt	32,200	34,975
Demand deposits	799,000	545,500
Carrying Value
Financial assets
Loans	887,289	950,093
Loans held-for-sale	9,243	9,158
Financial liabilities
Deposits	1,795,480	1,434,803
Long-term debt	262,934	240,856
Commercial unfunded lending commitments	1,977	903
Estimate of Fair Value Measurement
Financial assets
Loans	927,054	978,230
Loans held-for-sale	9,243	9,158
Financial liabilities
Deposits	1,795,545	1,434,809
Long-term debt	272,479	248,525
Commercial unfunded lending commitments	5,258	4,867
Estimate of Fair Value Measurement | Level 2
Financial assets
Loans	49,372	63,633
Loans held-for-sale	7,864	8,439
Financial liabilities
Deposits	1,795,545	1,434,809
Long-term debt	271,315	247,376
Commercial unfunded lending commitments	99	90
Estimate of Fair Value Measurement | Level 3
Financial assets
Loans	877,682	914,597
Loans held-for-sale	1,379	719
Financial liabilities
Deposits	0	0
Long-term debt	1,164	1,149
Commercial unfunded lending commitments	$ 5,159	$ 4,777

Business Segment Information -

Business Segment Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2020businessSegment
Segment Reporting [Abstract]
Number of operating segments	4

Business Segment Information _2

Business Segment Information - Results of Business Segments and All Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net interest income	$ 43,859	$ 49,486	$ 48,772
Noninterest income	42,168	42,353	42,858
Total revenue, net of interest expense	86,027	91,839	91,630
Provision for credit losses	11,320	3,590	3,282
Noninterest expense	55,213	54,900	53,154
Income before income taxes	19,494	33,349	35,194
Income tax expense	1,600	5,919	7,047
Net income	17,894	27,430	28,147
Period-end total assets	2,819,627	2,434,079
Operating Segments
Segment Reporting Information [Line Items]
Total revenue, net of interest expense	89,599	94,222	93,255
Net income	18,301	28,786	28,403
Period-end total assets	2,555,486	2,209,704
Operating Segments | Consumer Banking
Segment Reporting Information [Line Items]
Net interest income	24,698	28,158	27,025
Noninterest income	8,564	10,429	10,593
Total revenue, net of interest expense	33,262	38,587	37,618
Provision for credit losses	5,765	3,772	3,664
Noninterest expense	18,878	17,646	17,672
Income before income taxes	8,619	17,169	16,282
Income tax expense	2,112	4,207	4,150
Net income	6,507	12,962	12,132
Period-end total assets	988,580	804,093
Operating Segments | Global Wealth & Investment Management
Segment Reporting Information [Line Items]
Net interest income	5,468	6,504	6,265
Noninterest income	13,116	13,034	13,188
Total revenue, net of interest expense	18,584	19,538	19,453
Provision for credit losses	357	82	86
Noninterest expense	14,154	13,825	14,015
Income before income taxes	4,073	5,631	5,352
Income tax expense	998	1,380	1,364
Net income	3,075	4,251	3,988
Period-end total assets	369,736	299,770
Operating Segments | Global Banking
Segment Reporting Information [Line Items]
Net interest income	9,013	10,675	10,993
Noninterest income	9,974	9,808	9,008
Total revenue, net of interest expense	18,987	20,483	20,001
Provision for credit losses	4,897	414	8
Noninterest expense	9,337	9,011	8,745
Income before income taxes	4,753	11,058	11,248
Income tax expense	1,283	2,985	2,923
Net income	3,470	8,073	8,325
Period-end total assets	580,561	464,032
Operating Segments | Global Markets
Segment Reporting Information [Line Items]
Net interest income	4,646	3,915	3,857
Noninterest income	14,120	11,699	12,326
Total revenue, net of interest expense	18,766	15,614	16,183
Provision for credit losses	251	(9)	0
Noninterest expense	11,422	10,728	10,835
Income before income taxes	7,093	4,895	5,348
Income tax expense	1,844	1,395	1,390
Net income	5,249	3,500	3,958
Period-end total assets	616,609	641,809
All Other
Segment Reporting Information [Line Items]
Net interest income	34	234	632
Noninterest income	(3,606)	(2,617)	(2,257)
Total revenue, net of interest expense	(3,572)	(2,383)	(1,625)
Provision for credit losses	50	(669)	(476)
Noninterest expense	1,422	3,690	1,887
Income before income taxes	(5,044)	(5,404)	(3,036)
Income tax expense	(4,637)	(4,048)	(2,780)
Net income	(407)	(1,356)	$ (256)
Period-end total assets	$ 264,141	$ 224,375

Business Segment Information _3

Business Segment Information - Noninterest Income by Business Segment and All Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total fees and commissions	$ 34,551	$ 33,015	$ 33,078
Market making and similar activities	8,355	9,034	9,008
Other income (loss)	(738)	304	772
Total noninterest income	42,168	42,353	42,858
Card income
Segment Reporting Information [Line Items]
Card income and service charges	5,656	5,797	5,824
Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	3,954	3,834	3,866
Other card income
Segment Reporting Information [Line Items]
Card income and service charges	1,702	1,963	1,958
Service charges
Segment Reporting Information [Line Items]
Card income and service charges	7,141	7,674	7,767
Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	5,991	6,588	6,667
Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	1,150	1,086	1,100
Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	14,574	13,902	14,160
Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	10,708	10,241	10,189
Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	3,866	3,661	3,971
Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	7,180	5,642	5,327
Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	4,698	2,998	2,722
Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	861	1,184	1,347
Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	1,621	1,460	1,258
Operating Segments | Consumer Banking
Segment Reporting Information [Line Items]
Total fees and commissions	8,363	9,595	9,722
Market making and similar activities	2	6	8
Other income (loss)	199	828	863
Total noninterest income	8,564	10,429	10,593
Operating Segments | Consumer Banking | Card income
Segment Reporting Information [Line Items]
Card income and service charges	4,673	5,084	5,103
Operating Segments | Consumer Banking | Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	3,027	3,174	3,196
Operating Segments | Consumer Banking | Other card income
Segment Reporting Information [Line Items]
Card income and service charges	1,646	1,910	1,907
Operating Segments | Consumer Banking | Service charges
Segment Reporting Information [Line Items]
Card income and service charges	3,417	4,218	4,300
Operating Segments | Consumer Banking | Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	3,417	4,218	4,300
Operating Segments | Consumer Banking | Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	0	0	0
Operating Segments | Consumer Banking | Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	273	293	319
Operating Segments | Consumer Banking | Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	146	144	147
Operating Segments | Consumer Banking | Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	127	149	172
Operating Segments | Consumer Banking | Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	0	0	0
Operating Segments | Consumer Banking | Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	0	0	0
Operating Segments | Consumer Banking | Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	0	0	0
Operating Segments | Consumer Banking | Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	0	0	0
Operating Segments | Global Wealth & Investment Management
Segment Reporting Information [Line Items]
Total fees and commissions	12,806	12,440	12,496
Market making and similar activities	63	113	112
Other income (loss)	247	481	580
Total noninterest income	13,116	13,034	13,188
Operating Segments | Global Wealth & Investment Management | Card income
Segment Reporting Information [Line Items]
Card income and service charges	78	101	127
Operating Segments | Global Wealth & Investment Management | Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	36	59	81
Operating Segments | Global Wealth & Investment Management | Other card income
Segment Reporting Information [Line Items]
Card income and service charges	42	42	46
Operating Segments | Global Wealth & Investment Management | Service charges
Segment Reporting Information [Line Items]
Card income and service charges	67	68	73
Operating Segments | Global Wealth & Investment Management | Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	67	68	73
Operating Segments | Global Wealth & Investment Management | Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	0	0	0
Operating Segments | Global Wealth & Investment Management | Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	12,270	11,870	11,959
Operating Segments | Global Wealth & Investment Management | Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	10,578	10,130	10,042
Operating Segments | Global Wealth & Investment Management | Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	1,692	1,740	1,917
Operating Segments | Global Wealth & Investment Management | Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	391	401	337
Operating Segments | Global Wealth & Investment Management | Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	391	401	335
Operating Segments | Global Wealth & Investment Management | Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	0	0	0
Operating Segments | Global Wealth & Investment Management | Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	0	0	2
Operating Segments | Global Banking
Segment Reporting Information [Line Items]
Total fees and commissions	7,835	6,718	6,523
Market making and similar activities	103	235	260
Other income (loss)	2,036	2,855	2,225
Total noninterest income	9,974	9,808	9,008
Operating Segments | Global Banking | Card income
Segment Reporting Information [Line Items]
Card income and service charges	513	532	511
Operating Segments | Global Banking | Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	499	519	503
Operating Segments | Global Banking | Other card income
Segment Reporting Information [Line Items]
Card income and service charges	14	13	8
Operating Segments | Global Banking | Service charges
Segment Reporting Information [Line Items]
Card income and service charges	3,238	3,015	3,027
Operating Segments | Global Banking | Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	2,298	2,121	2,111
Operating Segments | Global Banking | Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	940	894	916
Operating Segments | Global Banking | Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	74	34	94
Operating Segments | Global Banking | Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	0	0	0
Operating Segments | Global Banking | Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	74	34	94
Operating Segments | Global Banking | Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	4,010	3,137	2,891
Operating Segments | Global Banking | Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	2,070	1,227	1,090
Operating Segments | Global Banking | Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	482	574	648
Operating Segments | Global Banking | Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	1,458	1,336	1,153
Operating Segments | Global Markets
Segment Reporting Information [Line Items]
Total fees and commissions	5,742	4,454	4,505
Market making and similar activities	8,471	7,065	7,260
Other income (loss)	(93)	180	561
Total noninterest income	14,120	11,699	12,326
Operating Segments | Global Markets | Card income
Segment Reporting Information [Line Items]
Card income and service charges	391	80	84
Operating Segments | Global Markets | Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	391	81	86
Operating Segments | Global Markets | Other card income
Segment Reporting Information [Line Items]
Card income and service charges	0	(1)	(2)
Operating Segments | Global Markets | Service charges
Segment Reporting Information [Line Items]
Card income and service charges	387	348	345
Operating Segments | Global Markets | Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	177	156	161
Operating Segments | Global Markets | Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	210	192	184
Operating Segments | Global Markets | Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	1,973	1,738	1,780
Operating Segments | Global Markets | Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	0	0	0
Operating Segments | Global Markets | Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	1,973	1,738	1,780
Operating Segments | Global Markets | Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	2,991	2,288	2,296
Operating Segments | Global Markets | Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	2,449	1,555	1,495
Operating Segments | Global Markets | Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	379	610	698
Operating Segments | Global Markets | Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	163	123	103
All Other
Segment Reporting Information [Line Items]
Total fees and commissions	(195)	(192)	(168)
Market making and similar activities	(284)	1,615	1,368
Other income (loss)	(3,127)	(4,040)	(3,457)
Total noninterest income	(3,606)	(2,617)	(2,257)
All Other | Card income
Segment Reporting Information [Line Items]
Card income and service charges	1	0	(1)
All Other | Interchange fees
Segment Reporting Information [Line Items]
Card income and service charges	1	1	0
All Other | Other card income
Segment Reporting Information [Line Items]
Card income and service charges	0	(1)	(1)
All Other | Service charges
Segment Reporting Information [Line Items]
Card income and service charges	32	25	22
All Other | Deposit-related fees
Segment Reporting Information [Line Items]
Card income and service charges	32	25	22
All Other | Lending-related fees
Segment Reporting Information [Line Items]
Card income and service charges	0	0	0
All Other | Investment and brokerage services
Segment Reporting Information [Line Items]
Investment and brokerage services	(16)	(33)	8
All Other | Asset management fees
Segment Reporting Information [Line Items]
Investment and brokerage services	(16)	(33)	0
All Other | Brokerage fees
Segment Reporting Information [Line Items]
Investment and brokerage services	0	0	8
All Other | Total investment banking fees
Segment Reporting Information [Line Items]
Investment banking fees	(212)	(184)	(197)
All Other | Underwriting income
Segment Reporting Information [Line Items]
Investment banking fees	(212)	(185)	(198)
All Other | Syndication fees
Segment Reporting Information [Line Items]
Investment banking fees	0	0	1
All Other | Financial advisory services
Segment Reporting Information [Line Items]
Investment banking fees	$ 0	$ 1	$ 0

Business Segment Information _4

Business Segment Information - Business Segment Reconciliations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segments’ total revenue, net of interest expense (FTE basis)
Segments’ total revenue, net of interest expense	$ 86,027	$ 91,839	$ 91,630
Total revenue, net of interest expense	85,528	91,244	91,020
Net income	17,894	27,430	28,147
Operating Segments
Segments’ total revenue, net of interest expense (FTE basis)
Segments’ total revenue, net of interest expense	89,599	94,222	93,255
Net income	18,301	28,786	28,403
ALM activities
Segments’ total revenue, net of interest expense (FTE basis)
Total revenue, net of interest expense	375	241	(325)
Net income	279	202	(222)
Liquidating businesses, eliminations and other
Segments’ total revenue, net of interest expense (FTE basis)
Total revenue, net of interest expense	(3,947)	(2,624)	(1,300)
Net income	(686)	(1,558)	(34)
FTE basis adjustment
Segments’ total revenue, net of interest expense (FTE basis)
Total revenue, net of interest expense	$ (499)	$ (595)	$ (610)

Business Segment Information _5

Business Segment Information - Segments' Total Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Segments’ total assets
Total assets	$ 2,819,627	$ 2,434,079
Operating Segments
Segments’ total assets
Total assets	2,555,486	2,209,704
ALM activities
Segments’ total assets
Total assets	1,176,071	721,806
Other
Segments’ total assets
Total assets	65,755	67,947
Elimination of segment asset allocations to match liabilities
Segments’ total assets
Total assets	$ (977,685)	$ (565,378)

Parent Company Information - In

Parent Company Information - Income Statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Income Statements, Captions [Line Items]
Other income	$ (738)	$ 304	$ 772
Total income	85,528	91,244	91,020
Noninterest expense	55,213	54,900	53,154
Income tax expense (benefit)	1,101	5,324	6,437
Net income	17,894	27,430	28,147
Bank of America Corporation
Condensed Income Statements, Captions [Line Items]
Interest from subsidiaries	8,825	9,502	8,425
Other income	(138)	74	(1,025)
Total income	19,039	37,396	36,066
Interest on borrowed funds from related subsidiaries	136	451	235
Other interest expense	4,119	5,899	6,425
Noninterest expense	1,651	1,641	1,600
Total expense	5,906	7,991	8,260
Income before income taxes and equity in undistributed earnings of subsidiaries	13,133	29,405	27,806
Income tax expense (benefit)	649	341	(281)
Income before equity in undistributed earnings of subsidiaries	12,484	29,064	28,087
Equity in undistributed earnings (losses) of subsidiaries:	5,410	(1,634)	60
Net income	17,894	27,430	28,147
Bank holding companies and related subsidiaries | Bank of America Corporation
Condensed Income Statements, Captions [Line Items]
Dividends from subsidiaries:	10,352	27,820	28,575
Equity in undistributed earnings (losses) of subsidiaries:	5,372	(1,717)	306
Nonbank companies and related subsidiaries | Bank of America Corporation
Condensed Income Statements, Captions [Line Items]
Dividends from subsidiaries:	0	0	91
Equity in undistributed earnings (losses) of subsidiaries:	$ 38	$ 83	$ (246)

Parent Company Information - Ba

Parent Company Information - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Securities	$ 684,850	$ 472,197
Other assets	135,203	129,690
Total assets	2,819,627	2,434,079
Liabilities and shareholders’ equity
Accrued expenses and other liabilities	181,799	182,798
Total liabilities	2,546,703	2,169,269
Shareholders’ equity	272,924	264,810	$ 265,325	$ 267,146
Total liabilities and shareholders’ equity	2,819,627	2,434,079
Third party cash held	7	4
Bank of America Corporation
Assets
Cash held at bank subsidiaries	5,893	5,695
Securities	701	656
Other assets	9,850	9,438
Total assets	533,166	490,660
Liabilities and shareholders’ equity
Accrued expenses and other liabilities	15,965	13,381
Long-term debt	233,081	199,909
Total liabilities	260,242	225,850
Shareholders’ equity	272,924	264,810
Total liabilities and shareholders’ equity	533,166	490,660
Bank of America Corporation | Bank holding companies and related subsidiaries
Assets
Receivables from subsidiaries:	206,566	173,301
Investments in subsidiaries:	305,818	297,465
Bank of America Corporation | Banks and related subsidiaries
Assets
Receivables from subsidiaries:	213	51
Liabilities and shareholders’ equity
Payables to subsidiaries:	129	458
Bank of America Corporation | Nonbank companies and related subsidiaries
Assets
Receivables from subsidiaries:	410	391
Investments in subsidiaries:	3,715	3,663
Liabilities and shareholders’ equity
Payables to subsidiaries:	$ 11,067	$ 12,102

Parent Company Information - St

Parent Company Information - Statement of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net income	$ 17,894	$ 27,430	$ 28,147
Operating activities
Other operating activities, net	3,886	6,211	(2,570)
Net cash provided by operating activities	37,993	61,777	39,520
Investing activities
Other investing activities, net	(3,489)	(2,974)	(1,986)
Net cash used in investing activities	(177,665)	(80,630)	(71,468)
Financing activities
Proceeds from issuance of long-term debt	57,013	52,420	64,278
Retirement	(47,948)	(50,794)	(53,046)
Proceeds from issuance of preferred stock	2,181	3,643	4,515
Common stock repurchased	(7,025)	(28,144)	(20,094)
Cash dividends paid	(7,727)	(5,934)	(6,895)
Net cash provided by financing activities	355,819	3,377	53,118
Net increase (decrease) in cash and cash equivalents	218,903	(15,844)	19,970
Cash and cash equivalents at January 1	161,560	177,404	157,434
Cash and cash equivalents at December 31	380,463	161,560	177,404
Bank of America Corporation
Condensed Cash Flow Statements, Captions [Line Items]
Net income	17,894	27,430	28,147
Operating activities
Equity in undistributed (earnings) losses of subsidiaries	(5,410)	1,634	(60)
Other operating activities, net	14,303	16,973	(3,706)
Net cash provided by operating activities	26,787	46,037	24,381
Investing activities
Net sales (purchases) of securities	(4)	(17)	51
Net payments to subsidiaries	(33,111)	(19,121)	(2,262)
Other investing activities, net	(7)	7	48
Net cash used in investing activities	(33,122)	(19,131)	(2,163)
Financing activities
Net increase (decrease) in other advances	(422)	(1,625)	3,867
Proceeds from issuance of long-term debt	43,766	29,315	30,708
Retirement	(23,168)	(21,039)	(29,413)
Proceeds from issuance of preferred stock	2,181	3,643	4,515
Redemption of preferred stock	(1,072)	(2,568)	(4,512)
Common stock repurchased	(7,025)	(28,144)	(20,094)
Cash dividends paid	(7,727)	(5,934)	(6,895)
Net cash provided by financing activities	6,533	(26,352)	(21,824)
Net increase (decrease) in cash and cash equivalents	198	554	394
Cash and cash equivalents at January 1	5,695	5,141	4,747
Cash and cash equivalents at December 31	$ 5,893	$ 5,695	$ 5,141

Performance by Geographical A_3

Performance by Geographical Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ 2,819,627	$ 2,434,079
Total revenue, net of interest expense	85,528	91,244	$ 91,020
Income Before Income Taxes	18,995	32,754	34,584
Net income	17,894	27,430	28,147
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	2,490,247	2,122,734
Total revenue, net of interest expense	75,576	81,236	80,777
Income Before Income Taxes	18,247	30,699	31,904
Net income	16,692	25,937	26,407
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	99,283	102,440
Total revenue, net of interest expense	4,232	3,491	3,507
Income Before Income Taxes	1,051	765	865
Net income	788	570	520
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	202,701	178,889
Total revenue, net of interest expense	4,491	5,310	5,632
Income Before Income Taxes	(596)	921	1,543
Net income	264	672	1,126
Latin America and the Caribbean
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	27,396	30,016
Total revenue, net of interest expense	1,229	1,207	1,104
Income Before Income Taxes	293	369	272
Net income	150	251	94
Non-U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	329,380	311,345
Total revenue, net of interest expense	9,952	10,008	10,243
Income Before Income Taxes	748	2,055	2,680
Net income	$ 1,202	$ 1,493	$ 1,740

Uncategorized Items - bac-20201

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2017-12 [Member]